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Investor Presentaiton

BALANCE SHEET HIGHER FEED COSTS AND AVERAGE SELLING PRICES INCREASING WORKING CAPITAL INGHAM'S Always Good Inventories: Increased $12.0M due largely to an increase in Biological assets during the period, reflecting higher cost of feed $M Dec-22 Jun-22 Variance Inventories/Biologicals¹ 396.0 384.0 12.0 Feed inventories declined marginally due to reduction in physical purchases, offset by cost increases Receivables: Increased $51.0M due to higher seasonal sales, higher ASP and annual insurance prepayment Payables: Trade payables increased largely due to an increase in the inventory procurement payable as a result of an increase in the underlying cost of feed Right-of-use Assets: Declined $57.1M, mainly attributable to a reduction in Contract Growers, due to amortisation offset by additions, CPI increases and lease extensions. Lease Liabilities: Decreased $61.6M due to lease payments offset by additions, CPI increases and lease extensions Net Debt: Increased by $26.9M mainly due to higher working capital Tax balance: Increased mainly due to deferred tax asset relating to the timing differences arising from the movements in provisions, employee benefits and inventories Working Capital Provisions Other Assets Lease Liabilities Receivables1 274.6 223.6 51.0 Payables (465.2) (455.5) (9.7) 205.4 152.1 53.3 (146.2) (138.3) (7.9) Working Capital & Provisions 59.2 13.8 45.4 Property, Plant & Equipment Right-of-use Assets 476.2 477.3 (1.1) 1,262.3 1,319.4 (57.1) 3.0 13.3 (10.3) (1,342.0) (1,403.6) 61.6 Capital employed 458.7 420.2 38.5 Net Debt (294.2) (267.3) (26.9) Net Tax balances 10.0 5.3 4.7 Net Assets 174.5 158.2 16.3 1. Provisions within Inventories and Trade Receivables have been reclassed to 'Provisions' 14
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