INGHAMS GROUP LIMITED — AGM Information 2020

Nov 4, 2020

5 November 2020

Inghams Group Limited (ASX: ING, Ingham’s)

AGM 2020 Presentation

Attached is the Ingham’s 2020 AGM Presentation accompanying the addresses by the Chairman and CEO.

This announcement has been approved by the Chairman of Ingham’s Group Limited.

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David Matthews

Company Secretary

Investor Enquiries Media Enquiries Carrie Barrack Sue Cato carrie@catoandclive.com / +61 422 464 028 cato@catoandclive.com / +61 419 282 319

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INGHAMS GROUP LIMITED

2020 Annual General Meeting 5 November 2020

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Welcome and Chairman’s Address

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Inghams Group Limited Board of Directors

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Peter Bush	Jim Leighton	Michael Ihlein	Jackie McArthur	Helen Nash	Linda Bardo	Rob Gordon	Andrew Reeves
Chairman,	Managing	Non-Executive	Non-Executive	Non-Executive	Nicholls AO	Non-Executive	Non-Executive
and Chair	Director	Director	Director	Director	Non-Executive	Director	Director
of the	and Chief	Chair of the	Chair of the Risk	Chair of the	Director	Member of the	Member of
Nominations	Executive	Finance and	and Sustainability	People and	Member of the	Finance and	the Finance
Committee	Officer	Audit	Committee,	Remuneration	Finance and Audit	Audit	and Audit
		Committee,	Member of the	Committee,	Committee,	Committee	Committee, and
		Member of the	People and	Member of the	People and		Risk and
		People and	Remuneration	Nominations	Remuneration		Sustainability
		Remuneration	Committee	Committee	Committee, and		Committee
		Committee			Risk and
					Sustainability
					Committee		3

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Chairman’s Address

• Resilient results made possible by our five-year plan, robust organisational model and high-performing people.

• Paid a total fully franked dividend of 14 cents per share for the full year, despite COVID-19 volatility and disruptions.

The Board has approved an increased dividend payout ratio range – from 60 to 80 per cent of underlying NPAT inclusive of AASB16 – to give flexibility to continue to provide, other things being equal, cash dividends similar to historic payouts.

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Chairman’s Address

Welcome

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Mike Ihlein

−Complements our Board skills with his experience at ASX-listed companies including Brambles and Coca-Cola Amatil

• −Chairman of our Finance and Audit Committee

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Gary Mallett

−More than 30 years of experience, including at Origin Energy and Senex Energy

• −Continuing to lead focus on prudent financial management

Non-Executive Director

Chief Financial Officer

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Chairman’s Address

• I commend our Business Sustainability report and Corporate Governance Statements to you to better understand our commitments to safety, animal welfare, water and climate change, and ethical procurement. - Our leadership team, business model and five-year plan are focused on delivering more consistent, predictable and reliable returns for all our stakeholders.

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Managing Director and Chief Executive Officer’s Address

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Clearly articulated and well-understood five-year plan

−Five-year plan developed in October 2019.

• −Year one execution delivered resilient financial results.

• −Our Purpose is to Nourish our World, including our People, Products, Partners, Planet and Profit.

• −Strategic Pillars focus on optimising the core, transforming for tomorrow and creating the new.

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Safety leadership

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• Keeping COVID-safe – physical distancing, increased cleaning of common areas, leave benefits, separated shifts, communications.

• We reduced our Lost Time Injury Frequency Rate down by 45% to 3.8 and Total Recordable Injury Frequency Rate down by 63% to 8.1.

• Sadly, one of our team members suffered a serious incident at Tahmoor in February and, thankfully, he is recovering.

• We are investing in engaging our people and building our culture to empower our people to deliver our five-year plan.

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Trusted partners

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−We worked with our customers and suppliers to deliver our products through the challenges presented to us this year – around the bushfires and during the pandemic.

• −We have ambitious growth plans for our new products with our partners.

• −Driving quality, innovation and a robust supply chain.

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First quarter FY21 trading update

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−Core poultry volume sold in Q1 FY21 of 110.9 kt was an increase of 6.2% on PCP and 7.5% on the prior quarter.

Core Poultry Volume

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120.0
110.0
16.5 16.5
100.0 16.1
15.9 13.8
90.0
80.0
95.1 93.4 94.4
70.0 88.5 89.4
60.0
50.0
Q1-20 Q2-20 Q3-20 Q4-20 Q1-21
Australia New Zealand
kt
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• −Strengthening demand across customers with trading now at near pre COVID-19 levels.

• −Solid progress in the reduction of poultry inventory levels resulting from COVID-19 impacts in FY20 – inventory down $16m in first 17 weeks of FY21.

−Increase in feed costs observed in Q1 FY21. However, feed prices anticipated to reduce significantly in 2H FY21 – expect to fully flow to cost of sales by Q4 FY21.

• −Since re-opening of Thomastown further processing facility on 3 August, all operations fully maintained across Australia and New Zealand.

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