INGHAMS GROUP LIMITED — AGM Information 2021

Nov 3, 2021

ASX Release

4 November 2021

Inghams Group 2021 Annual General Meeting

Please find attached the Chairman’s address, the CEO and Managing Director’s address, and presentation for Inghams Group (‘Inghams’ or ‘Group’) 2021 Annual General Meeting which is being held today at 10am (Sydney time).

Participating in the AGM via the online platform

As outlined in the Notice of Meeting released on 5 October,all shareholders have the ability to participate remotely in the AGM via the Lumi online platform. Instructions for participating in the AGM using the Lumi platform are set out in the Notice of Meeting and are also available on the Inghams website:

https://investors.inghams.com.au/Resources/files/NOM%20final%20%2030%20Sep%2021.pdf

The online platform will allow you to view the meeting, vote and ask questions, both written and verbal, in real-time. We recommend logging in to the online platform at least 15 minutes prior to the scheduled start time for the AGM.

Online voting will be open between the commencement of the AGM at 10am (Sydney time) and the time at which the Chairman announces the closure of voting.

The meeting can be viewed by using the following link:

web.lumiagm.com/356220431

ENDS

This announcement has been authorised by the Inghams Group Limited Chairman and the CEO & Managing Director.

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David Matthews

Company Secretary

Investor Enquiries Media Enquiries Brett Ward Sue Cato brett@catoandclive.com / +61 437 994 451 cato@catoandclive.com / +61 419 282 319

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Inghams Group Limited • ACN 162 709 506 • Level 4, 1 Julius Ave North Ryde NSW 2113 Australia • Locked Bag 2039, North Ryde, NSW 1670 Australia

ASX Release

Chairman’s

and CEO and Managing Director’s Addresses

for the

Inghams Group 2021 Annual General Meeting (including presentation)

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Inghams Group Limited • ACN 162 709 506 • Level 4, 1 Julius Ave North Ryde NSW 2113 Australia • Locked Bag 2039, North Ryde, NSW 1670 Australia

ASX Release

Chairman’s Address

I am pleased to be speaking with you today, and to report that your business is in good shape and performing well.

This time last year, I spoke of the significant events that we and the country had faced with the bushfires in late 2019 and the onset of the COVID pandemic early 2020. These events certainly challenged Inghams, and all Australians, and the last 12 months have continued to present COVIDrelated challenges in Australia and New Zealand. Our commitment to the health, safety and wellbeing of our people remains a priority, and is exemplified by the introduction of paid pandemic leave for factory staff to take time off work to isolate or receive vaccinations. I have nothing but admiration for the resilience and unwavering commitment of our people that has enabled Inghams to continue to operate successfully and perform our critical role as an essential services provider despite disruptions associated with the first, second and subsequent waves of COVID.

Against this backdrop, you will have seen in our FY 2021 results in August a year in which the business performed strongly. I would like to commend the entire Ingham’s team for delivering strong financial results in FY21, driven by our disciplined approach to executing our long-term strategy.

Supported by healthy poultry volume growth and the benefits of our efficiency initiatives, Net Profit After Tax increased by 107.7 per cent on the previous year. The stronger results enabled us to deliver shareholders fully franked dividends totaling 16.5 cents per share, an increase of almost eighteen per cent on the previous year and reflecting a payout ratio of 71 per cent of Underlying NPAT. Our balance sheet is also in a healthy state, with net debt declining to $240 million and reducing the leverage ratio to 1.2 times at financial year end.

Inghams is committed to running a sustainable business and we have a very long track record of embedding sustainable practices throughout all our Operations. As Andrew will detail further shortly, the Company has made significant progress over the past year in the delivery of industry leading initiatives and outcomes and more recently in the disclosure of our achievements, plans and targets. Most critically, the board see Sustainability as core to the fabric of our business and as a source of competitive advantage.

You will have seen in the Annual Report I referred to the tragic death of one of our valued workers at our plant in Bolivar, South Australia. I can assure shareholders that we have thoroughly reviewed our procedures and continue the longstanding emphasis on safety in all our operations.

In March of this year, we welcomed Andrew Reeves to the executive team as Ingham’s new CEO.

The position became available following the departure of Jim Leighton, who returned to the United States for family reasons. Jim made a significant contribution to the Company, building a world class executive team, and left the business in a strong position as you can see from the financial results we released in August.

The Board was delighted that Andrew agreed to take up the CEO role, coming into the position very well known to the Board and management team, having been a non-executive Director of Inghams for the two prior years.

We are fortunate to have someone of Andrew’s calibre at the helm. Andrew is an experienced consumer goods executive who has served as CEO and Managing Director of the Australian and New Zealand subsidiaries of large listed Australian and multinational companies. His more than 40 years’ experience in successfully managing complex, commoditised businesses and brands in both the fastmoving consumer goods and agribusiness industries, combined with his deep knowledge of the

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Inghams Group Limited • ACN 162 709 506 • Level 4, 1 Julius Ave North Ryde NSW 2113 Australia • Locked Bag 2039, North Ryde, NSW 1670 Australia

ASX Release

Inghams business, ensured a smooth and seamless leadership transition with no loss of strategic or operational momentum.

With Andrew’s move to an executive role, we have also commenced a search to identify a new NonExecutive Director to join the Board. We will update the market when we finalise this appointment.

At last year’s AGM we a received a first strike on the Remuneration Report. In addition, the resolution on the Transformational Incentive Plan structure was lost.

With this clear message that elements of executive remuneration structure did not align with shareholder expectations, we have addressed these concerns.

Helen Nash, our Chair of the People and Remuneration Committee, and I met with numerous stakeholders to gain a more detailed understanding of the issues that led to these voting outcomes. And three key areas emerged:

• The CEO’s remuneration;

• Our approach to short and long-term incentives; and

• Shareholding requirements for Directors and key management.

As a result, and to ensure that stakeholder concerns were appropriately addressed, we have made a number of important changes to our approach to the setting, assessment and disclosure of executive remuneration.

One of the more immediate changes that was made is in relation to CEO pay. As you will have seen in our remuneration report, Andrew’s fixed remuneration has been set at a level that is 27% lower than his predecessor, and as a Board, we will ensure that CEO compensation meets three requirements:

• set at an appropriate level that reflects the skills, knowledge and experience of the individual;

• ensures that the Company can compete effectively in the market for talented and experienced executives; and

• and is based on comparable market rates.

We believe that we have achieved the right balance between these various requirements.

Another key area of change this year is in relation to the disclosures we make on performance-based compensation. While needing to ensure that we properly manage issues of commercial sensitivity, we are committing to enhanced disclosure of performance targets for both the short-term and longterm programs, including the disclosure of the long-term plan targets at the time of the grant of awards. These enhancements will provide shareholders with the ability to vote on the respective resolution with full transparency of both the grant and the performance measures relating to it at the beginning of the performance period rather than retrospectively.

I should also note that for FY21, short-term incentives were significantly reduced as a result of the significant safety incident that occurred in our Bolivar facility in South Australia which I mentioned previously.

The final change that I wanted to highlight is the introduction of minimum shareholding requirements for the Board and key executives. The minimum holding ranges between 50-100% of board fees or total fixed remuneration, and we have set an appropriate transition period for all relevant individuals to comply with these requirements.

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Inghams Group Limited • ACN 162 709 506 • Level 4, 1 Julius Ave North Ryde NSW 2113 Australia • Locked Bag 2039, North Ryde, NSW 1670 Australia

ASX Release

For those who wish to read more, you will find additional detail on these changes on page 60 of the 2021 Annual Report. The Remuneration Report has been revamped and simplified and I have no doubt shareholders have found this new format much easier to understand.

The Board is committed to ensuring the remuneration strategy reflects good governance, consultation with key stakeholders, and is transparent in its design to support the business strategy and drive sustainable outperformance for shareholders over the short, medium and long ‑ term.

In closing, I can report that the Board is confident that the business is in great shape and well positioned to pursue our strategy going forward.

We have every confidence in the management team we have in place. The team is delivering positive changes across our operations and in the business, resulting in the more predictable results realised over the last financial year-despite the challenges presented by COVID.

During the course of our discussions with stakeholders in the lead-up to this year’s AGM, we were asked us about Sustainability linkages to executive remuneration. Today, achievement of sustainability outcomes are taken into account when assessing the individual performance of each STIP participant where sustainability is part of the participants job plan. Moving forward, we will be linking sustainability to our reward program as we make greater progress in our sustainability and ESG program, targeting to implement FY25.

While the lockdowns in Australia and New Zealand in Q1 of this financial year have required us to continue to adjust our operations to ensure our employees are safe, and we comply with all government regulations while continuing to meet customer demands. The lifting of restrictions is expected to bring improved operating conditions and a normalisation of activity across our business, and I remain optimistic as well positioned as we emerge into the post-Covid world.

I will now handover to your Chief Executive Officer and Managing Director, Andrew Reeves, to take you through further operational highlights and more of the details that underpin our continuing positive performance.

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Inghams Group Limited • ACN 162 709 506 • Level 4, 1 Julius Ave North Ryde NSW 2113 Australia • Locked Bag 2039, North Ryde, NSW 1670 Australia

ASX Release

CEO and Managing Director’s Address

Thank you, Peter, and good morning everyone.

I would like to add my welcome to all those joining us today.

It is my pleasure to be presenting at my first Annual General Meeting since taking over as CEO of Inghams earlier this year, and I look forward to keeping you updated on the progress of the business moving forward.

Starting with the highlights from the 2021 financial year.

Throughout the COVID-19 pandemic, Ingham’s has focused on keeping its people safe. Our high safety standards enabled us to keep operating, effectively manage through operational disruptions and perform our role as an essential service provider. In the last six weeks, we have had a number of cases in our Victorian facilities that have led to disruptions and adjustments to our normal operating practices. This is now behind us and we have returned to stable daily operations. Our ability to respond quickly and effectively to the challenges that COVID continues to throw at us speaks to the resilience and agility of our business and the unwavering commitment of our people to deliver great outcomes for our customers and consumers, as well as profitable growth and returns for our shareholders.

In August of this year the Group reported a strong set of financial results, with EBITDA and Net Profit after Tax both showing solid growth and coming in at the mid-point of our earnings guidance range that was issued in May. This strong growth was supported by volume and revenue growth, combined with continued operational efficiencies, net feed cost benefit and frozen poultry inventory reduction.

The Company paid total dividends of 16.5 cents per share, an increase of 17.9% and reflecting a payout ratio of 71% of Underlying NPAT, in line with our policy target of 60-80% of Underlying NPAT post AASB 16 adjustments.

Importantly, these results were achieved despite the ongoing impact of the pandemic on the operating environment.

Our results were underpinned by resilient demand for poultry and the positive operational outcomes arising from the delivery of our strategic plan. Group core poultry volume grew by 4.2% on the prior corresponding period, with volume growth in New Zealand particularly strong at just over 6%. The growth reflects strong growth in Retail, coverage expansion in Wholesale and a solid recovery in QSR and Foodservice, which were particularly impacted by COVID-19 containment measures.

An important element of our Strategy is our continuous improvement workstream, which we call Optimise the Core. The successful outcomes achieved through this key plank of our strategy contributed strongly to our FY21 results, and the dedicated team we have in place remains focused on continuing its great work in identifying further opportunities for process improvement and waste elimination.

We have made great progress on advancing our Sustainability agenda this year, both through the setting of targets and the implementation of initiatives, as well as elevating our disclosure of these various activities. I will talk in more detail about our sustainability activities a bit later in my presentation.

Moving now to the progress on our strategy.

In late 2019 the business presented its strategic framework which comprised three key pillars – (1) to optimise the core; (2) transform for tomorrow and (3) create the new.

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Inghams Group Limited • ACN 162 709 506 • Level 4, 1 Julius Ave North Ryde NSW 2113 Australia • Locked Bag 2039, North Ryde, NSW 1670 Australia

ASX Release

This framework has been guiding our efforts and plans to help deliver more consistent, predicable and reliable returns to shareholders, with the benefits of the initiatives and actions being taken under this plan clearly seen in our FY21 results.

Optimising the Core is delivering great outcomes, driving lower costs, enhancing yield and reducing waste. Importantly, we are delivering greater asset efficiency and returns for a modest overall capital outlay. The sale of our Hamilton feed mill in New Zealand, which was dedicated to the production of dairy feed solely for external sale, has also released capital that we will be able to deploy into higher value opportunities across the business.

Under our pillar of Transform for Tomorrow, we are making great progress with our two HatchTech hatcheries in Victoria and Western Australia. The installation of HatchCare technology within the new hatcheries is an Australian-first and leads the way with regards to animal welfare standards. HatchCare is an automated system that provides immediate access to light, feed, and water, with a generally more spacious environment for the chicks. In addition to providing improved health and welfare benefits, and operational efficiencies, the hatchery is critical to ensuring that Ingham’s has the capacity to meet future projected demand. We have completed the commissioning of the Victorian hatchery, and we have now commenced the commissioning of the WA facility.

Our Redland Bay research farm is now fully operational with a number of successful calibration trials conducted. Future trials will be supported by our Feed and Farm R&D strategy, focusing on optimising feed and raising the bar on animal welfare standards.

Our third strategic pillar, Create the New, is delivering some great outcomes for our customers and the business through an enhanced focus on the premium market through branded and private label product innovation, as well as the launch of plant-based products. The launch of a new brand in April 2020, The Free Ranger, has been well received and is now stocked in over 477 supermarkets. Product innovation, such as our Supercrunch range of frozen products, has also been very successful with healthy sales volumes and strong customer feedback. And throughout the year we have worked to develop new chicken offerings for our major QSR customers.

Turning now to a review of our sustainability activities.

At Inghams, Sustainability is about doing good for our people, our community, our environment and our business.

For more than 30 years, we have embedded sustainability into our business, and we have become recognised industry leaders in water stewardship, sustainable agriculture, and sustainable food production.

We are also committed to progressing our approach to environmental sustainability. This year we have set meaningful 2030 Planet targets, which include a commitment to Science Based Target setting, which will ensure that we deliver meaningful reductions in GHG emissions, water usage and landfill waste by 2030.

In determining our approach and setting these targets, we work closely with our sites, suppliers and customers to identify environmental and social risks. In collaboration with many of these same stakeholders, we also invest in research which underpins our ability to identify and develop innovative approaches that result in more sustainable practices, high quality and food safety practices, people safety and the highest animal welfare standards.

As many of you will have seen, we have also taken a significant step forward in our reporting on our sustainability achievements and plans through enhanced disclosures in our Annual Report which

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Inghams Group Limited • ACN 162 709 506 • Level 4, 1 Julius Ave North Ryde NSW 2113 Australia • Locked Bag 2039, North Ryde, NSW 1670 Australia

ASX Release

contains our new Sustainability Report. Our reporting will continue to evolve over time, and we look forward to keeping all stakeholders informed of our continuing sustainability achievements through these reports.

As you will have seen in our Annual Report and Sustainability Report this year, we have taken our first steps in reporting against the Task Force on Climate-Related Financial Disclosures (TCFD) recommendations. In these reports, we have also outlined the steps we will take in the future to progress our reporting against the TCFD recommendations.

We have made good progress on a range of sustainability initiatives across the business, including the release of our Modern Slavery Statement and the launch of our 2025 Packaging targets in line with the Australian Packaging Covenant.

I would now like to share some thoughts and observations about the business since taking over as CEO.

Since commencing as CEO at the end of March this year it has been an incredibly busy and rewarding seven months.

During that time, I have immersed myself in the operations of the business, visiting many of our Australian operations. Due to travel restrictions, I have not yet been able to visit our New Zealand operations but that is a priority for me once the travel restrictions are relaxed.

I have also spent considerable time with members of the executive team to review the strategic priorities of the business.

We have a strong business platform and market position, and a key task for us is to identify opportunities to leverage this into growth opportunities. I expect this growth will come from a number of different places, including doing our part to drive growth in the poultry category as well as creating new opportunities for growth, including through product development and differentiation.

In addition to internally driven opportunities, we will continue to assess appropriate external opportunities, aligned to our core business or suitable adjacencies, to expand our existing operations.

Operationally, we are in a strong position and the business is focused on the right things. Our Optimise the Core strategy is performing well and will continue to be a focus for us and we have a significant pipeline of projects for FY22. I see this strategy workstream as continuing to deliver meaningful benefits to the Group. There are good opportunities to further integrate and enhance both our business planning processes and network optimisation initiatives.

As we look toward the evolution of our strategy, we have three active workstreams underway to help underpin long term profitable growth. We are developing options to invest in and grow the contribution to volume and margin from value enhanced, consumer relevant branded propositions. Another workstream is defining a Good, Better, Best product portfolio approach to be implemented across the key channels of Retail, QSR and Food Service so these customers can present offers to their customers to optimise value, choice and preference. And further we are developing specific customer growth roadmaps to elevate our customer focus and bring more of a partnership approach to these key relationships, to create mutually attractive plans to drive poultry category growth. These roadmaps are supported by deep customer engagement, awareness of category drivers and market insights.

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Inghams Group Limited • ACN 162 709 506 • Level 4, 1 Julius Ave North Ryde NSW 2113 Australia • Locked Bag 2039, North Ryde, NSW 1670 Australia

ASX Release

Overall, I believe we have a very capable and engaged team in place. I am very happy with the composition of our senior team, and I believe the skills and experience within both the executive team and across the business more generally leave us well positioned to execute our strategy.

In closing, we delivered a good set of financial results in FY21, underpinned by solid poultry volume growth and recovery in key channels, and the Inghams balance sheet is strong.

The impacts of the extended lockdowns in New South Wales, Victoria and Auckland have been a key feature of early FY22. With restrictions now being eased and removed, we expect to see a recovery in consumer activity take place. Despite the uncertainty that the lockdowns have created, our performance in FY21 has proven the resilience and agility of our business and people to respond quickly and effectively to the challenges that COVID has thrown at us.

Elevating Sustainability across our business activities is a key focus area for us moving forward. While we have delivered good outcomes to date, we have more to do in embedding sustainability practices across the business, including enhancing our reporting of targets and outcomes.

As we move into FY22, we expect poultry volumes to show continued growth, also benefitting from new business across various channels.

Grain markets have continued to rally in the second half of this calendar year. Despite an expected bumper domestic wheat crop, due to northern hemisphere drought and an increase in global demand, international grain prices have stayed high and domestic pricing has increased as a result. The market for soymeal has actually seen a decline in pricing, however this has been largely offset by increased international shipping costs. These sustained input cost pressures have the potential to place upward pressure on market pricing moving forward.

As I noted earlier, our Optimise the Core program will continue to deliver meaningful benefits to the business through the implementation of operational efficiencies, big and small, across the business. We are also investing in our network through larger scale projects, including the WA hatchery, our Auckland further processing plant, the Murarrie red area replacement, a new breeder triangle servicing Queensland and a new waste-water treatment plant at Osborne Park.

On behalf of the management team, I would like to thank you for your continued support and for joining us today.

I will now hand back to the Chairman for the formal business of the meeting.

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Inghams Group Limited • ACN 162 709 506 • Level 4, 1 Julius Ave North Ryde NSW 2113 Australia • Locked Bag 2039, North Ryde, NSW 1670 Australia

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INGHAMS GROUP LIMITED 2021 ANNUAL GENERAL MEETING

4 NOVEMBER 2021

Important notice and disclaimer

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The material in this presentation is general background information about the activities of Inghams Group Limited (Ingham’s) and its subsidiaries (Ingham’s Group), and is current at the date of this presentation, unless otherwise noted.

It is information given in summary form and does not purport to be complete. It should be read in conjunction with the Ingham’s Group other periodic and continuous disclosure announcements lodged with the Australian Stock Exchange, which are available at www.asx.com.au. It is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any particular investor. These should be considered, with or without professional advice when deciding if an investment is appropriate.

This presentation includes non-IFRS information including EBITDA, Underlying and Pre AASB 16 Leases, which Ingham’s considers useful for users of this presentation to reflect the underlying performance of the business. Definitions are included in the Appendix defining the non-IFRS information used. Non-IFRS measures have not been subject to audit. This presentation may contain certain “forward-looking statements” and comments about future events, including Ingham’s expectations about the performance of its businesses. Such forward–looking statements may include forecast financial information about Ingham’s, statements about industry and market trends, statements about future regulatory developments and the progress of current developments and statements about Ingham’s strategies and the likely outcomes of those strategies. Forward-looking statements can be identified by the use of forward-looking terminology, including, without limitation, the terms “believes”, “estimates”, “anticipates” “expects”, “predicts”, “outlook”, “guidance”, “plans”, “intends”, “should”, “could”, “may”, “will”, “would” and other similar expressions. Indications of, and guidance on, future earnings and financial position and performance are also forward-looking statements. Such forward-looking statements are not guarantees of future performance and are provided as a general guide only, should not be relied on as an indication or guarantee of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Ingham’s. Actual results, performance or achievements could be significantly different from those expressed in or implied by any forward-looking statements. There can be no assurance that actual outcomes will not differ materially from forward-looking statements.

This presentation has not been audited in accordance with Australian Auditing Standards.

Nothing contained in this presentation is, or should be relied upon as, a promise, representation, warranty or guarantee as to the past, present or the future performance of Ingham’s. Ingham’s does not undertake any obligation to update or review any forward-looking statements or any other information contained in this presentation. This presentation does not constitute, or form part of, an offer to sell or the solicitation of an offer to subscribe for or buy any securities and nor is it intended to be used for the purpose of or in connection with offers or invitations to sell or subscribe for or buy or otherwise deal in securities.

No representation of warranty, expressed or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none of Ingham’s and its related bodies corporate, or their respective directors, employees or agents, nor any other person accepts liability for any loss arising from the use of this presentation or its contents or otherwise arising in connection with it, including without limitation, any liability from fault or negligence.

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2

CHAIR’S ADDRESS

Peter Bush

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3

FINANCIAL HIGHLIGHTS

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• § Strategy delivering results for all stakeholders

• § Navigating a challenging operating environment with limited disruption

• § Strong FY21 financial results

• § Positive progress on our Sustainability initiatives and reporting

§ Implemented a range of remuneration initiatives to address investor feedback

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4

LEADERSHIP CHANGE

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Introducing Andrew Reeves as Inghams CEO and Managing Director

• § Seamless CEO transition

• Andrew served as a Non-Executive Director since 2019 on the Inghams Group Limited Board

• § Andrew is an experienced consumer goods executive in the food and beverage sector

• § Served as CEO and Managing Director of the Australian and New Zealand subsidiaries of large listed Australian and multinational companies

• § CEO of George Weston Foods in Australia and New Zealand (2011 – 2016)

• § Other senior roles including:

• Managing Director, Lion Dairy & Drinks (formerly National Foods Limited)

• Managing Director, Lion Nathan – Australia

• Managing Director, Australia Coca-Cola Amatil

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• § Andrew has also served as Chair and Deputy Chair of the Australian Food & Grocery Council

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5

REMUNERATION FRAMEWORK

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Inghams has implemented meaningful changes to its approach to executive remuneration following the first strike last year

• § Received feedback across key remuneration elements including:

• CEO compensation

• Short and Long-Term incentive structures and approach

• Minimum shareholding requirements

• § The Board has responded by implementing the following key initiatives:

• Remuneration for the new CEO and MD, Andrew Reeves, is set 27% lower than previous CEO’s TFR

• Enhanced disclosure of performance targets for STIP where these measures are not commercially sensitive

• Amended the FY20 TIP to previously approved structure

• Committed to disclosing the targets for the LTIP at the time of grant from the 2021 AGM

• No one-off bonus awards have been granted in FY21

• Introduced minimum shareholding structure for Directors and KMP

“The Board is committed to ensuring the remuneration strategy reflects good governance, consultation with key stakeholders, and is transparent in its design to support the business strategy and drive sustainable outperformance for shareholders over the short, medium and long-term.”

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CEO & MANAGING DIRECTOR’S ADDRESS

Andrew Reeves

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GROUP FY21 HIGHLIGHTS

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Strong results, delivering on Optimising the Core strategy

Strong financial	§	Statutory EBITDA of $443.9M up 14.5%, Statutory NPAT of $83.3M up 107.7%
results	§	Underlying EBITDA of $448.7M up 9.6%, Underlying NPAT $86.7M up 57.4%
Underpinned by solid poultry volume growth	§ §	Group core poultry volume growth of 4.2% Strengthened demand across most channels and overall trading volumes well ahead of pre COVID-19 levels
Focusing on revenue	§	A dedicated team focused on process improvement and waste elimination, with 320
growth and continuous		improvement project opportunities identified for FY22
improvement benefits	§	Revenue growth of 4.4% in FY21
Advancing our	§	Launching our targets and committing to reducing our impact on the planet
ESG agenda	§	Providing greater transparency on our progress against our ESG commitments
Strategy delivering positive results	§	Delivering operational momentum and underpinning financial results

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8

PROGRESS ON OUR STRATEGY

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Key focus on embedding strong foundations to support future growth opportunities

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• § Continuous improvement culture delivering improved effectiveness and capacity to lower costs, enhance yield, deliver a better product mix and reduce waste

• § Continuing to transform our strong organisational culture into a constructive culture to drive workforce engagement, efficiency and innovation

• § Integrated Business Planning delivering product optimisation and aligning production with customer requirements

• § Sale of non-core Hamilton NZ feed mill and associated NZ dairy feed supply business

• §

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• §

• Construction of HatchTech hatcheries in Victoria and Western Australia to further improve animal welfare and drive lower costs of production. The Victorian facility now operational and Western Australia expected to commence around mid year FY22

• Redland Bay research farm operational, with a focus on optimising feed and raising the bar on animal welfare standards

• § Enhanced focus on the premium market through branded and private label product innovation

• § Free Ranger, launched in April 2020, continues to grow and now in 477 stores

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• § Supercrunch range outperforming expectations, new SKU’s added and excellent consumer feedback

• § Ongoing success of plant-based products introduced into retail and QSR in Australia and NZ

• § Innovation such as the recently launched Hungry Jack’s chicken fillet burger

• § New packaging delivered Ingham's masterbrand into Freezer that has a premium look, has higher appetite appeal and delivers on the brand promise of ‘Always Good’

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9

SUSTAINABILITY

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For more than 30 years, we have embedded sustainability into our business to become recognised industry leaders in water stewardship, sustainable agriculture and food production

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• § Our measures of GHG emissions, water usage and landfill waste generation have all improved year on year

• § This year we set our 2030 Planet targets including our commitment to set Science Based Targets

• § Our 2030 Planet targets include a commitment to set Science Based Targets for Scope 1 and Scope 2 GHG emissions

• § Ingham’s first TCFD (Taskforce on Climate-Related Financial Disclosures) report will be published in the 2021 Company Annual Report, including a disclosure pathway

• § Released our Modern Slavery Statement during the year

• § Launched our 2025 Packaging targets in line with the Australian Packaging Covenant

• § Our plan is to set concrete actions to deliver on our targets, whilst increasing our transparency with improved reporting on progress with our initiatives

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10

UPDATE ON STRATEGY

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Evolving our strategy - elevating our focus on brand, product and customer

• § Undertaking a review of the strategic priorities

• Identify opportunities to leverage and evolve current activities

• Optimise the Core delivering significant benefits with a meaningful pipeline of projects that will benefit FY22 and beyond

• Drive category growth and secure new growth opportunities

• Product differentiation and value add

• § Three key active workstreams have been launched across the business

• Brand architecture program to develop a meaningful, long-term suite of brands that we will support with investment

• Product portfolio program to identify opportunities and pathways to increase our share of branded products, and to develop clear strategies across white label, Ingham’s, and our value-add/specialty brands

• Delivering a Growth roadmap for poultry, supported by strong and deep customer engagement, thought leadership and insights

• § Assess appropriate external opportunities, aligned to core business or adjacencies, to expand existing operations

• § Progressing our ESG agenda, including target setting and enhanced disclosure

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11

SUMMARY

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• § Solid financial results achieved in FY21 and strong balance sheet position

• § Recent extended lockdowns have impacted operations and consumer behaviour in early FY22

• With restrictions now being eased and removed we would expect to see a recovery

• § Embedding sustainability practices across the business focused on enhancing our Sustainability reporting

• § Volumes expected to show continued growth with new business across various channels

• § Focus on securing growth opportunities with existing customers and product innovation

• § Feed costs have increased above Inghams previous expectations due to northern hemisphere drought, an uplift in global demand and higher transport costs. Sustained input cost pressures have the potential to place upward pressure on market pricing moving forward

• § Optimise the Core program will continue to deliver meaningful benefits in excess of inflationary cost increases through operational efficiencies implemented across the business

• § Investing in our network through projects including the WA hatchery, NZ FP plant expansion, Murarrie red area replacement, a new breeder triangle servicing Queensland, a new waste-water treatment plant at Osborne Park and commencing a systems modernisation project

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