Associated British Foods Results Presentation Deck

Capital structure and returns Cash, cash equivalents and overdrafts Net cash before lease liabilities Total net debt Leverage ratio 11 2023 £m 1,388 895 2022 ■ £m 0.96 1,999 1,488 (2,265) (1,764) 0.78 I I Completed £500m share buyback post year end Capital allocation policy of 1.0 to 1.5 times leverage Additional £500m share buyback announced Total dividend of 60.0p per share, including final dividend of 33.1p and special dividend of 12.7p Associated British Foods plc

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