AGM 2011

24 November 2011

==> picture [781 x 271] intentionally omitted <==

JAMES STRONG Chairman

==> picture [781 x 136] intentionally omitted <==

==> picture [179 x 12] intentionally omitted <==

DIVIDENDS PER SHARE ‐ UP 6.1%

==> picture [781 x 406] intentionally omitted <==

----- Start of picture text -----

Cents
Dividend pay‐out
�6 . 1% ratio of 70% is
�10.6% in line with the
previous year
�13.0%
Final
�24.3%
Dividend 2011: 65¢
�25.4% Interim
7 8 9 0 1 Dividend 2011: 57¢
0 0 0 1 1
FY FY FY FY FY
----- End of picture text -----

==> picture [179 x 12] intentionally omitted <==

EARNINGS PER SHARE ‐ UP 6.5%

Cents

==> picture [781 x 338] intentionally omitted <==

----- Start of picture text -----

190.0
174 6.
170.0 164.0 �6.5%
�8.8%
150.7
150.0
134.9 �11.7%
130.0 �24.0%
108.8
110 0.
�19.7%
90.0
70.0
07 08 09 10 11
Y Y Y Y Y
F F F F F
----- End of picture text -----

==> picture [179 x 12] intentionally omitted <==

==> picture [781 x 271] intentionally omitted <==

JAMES STRONG Chairman

==> picture [781 x 136] intentionally omitted <==

==> picture [179 x 12] intentionally omitted <==

==> picture [781 x 271] intentionally omitted <==

GRANT O’BRIEN Chief Executive Officer

==> picture [781 x 136] intentionally omitted <==

==> picture [179 x 12] intentionally omitted <==

HIGHLIGHTS — FINANCIAL YEAR 2011

Positive overall result given challenging macro economic conditions and devastating natural disasters
Increase in NPAT of 5.1% or 6.4% excluding natural disaster costs
Increase in market share, sales and profits whilst investing significantly in reducing rices for customers
p
Increased focus on meeting customers’ needs through improved ranges, new formats, lower prices and multi‐channel shopping
S trong a ance s b l h eet, generat ng g i hi h er cas h ows an fl d return ng more cap ta to i i l shareholders through increased dividends and a share buyback
Solid financial position, cash flow and credit rating strength positions us well for continued investment, capital management and growth
Sustainable long‐term profitable growth to deliver superior value to customers and shareholders through all economic cycles

==> picture [781 x 68] intentionally omitted <==

==> picture [179 x 12] intentionally omitted <==

PROFIT AFTER TAX — UP 5.1% (6.4% EXCL NATURAL DISASTER COSTS)

$ million

==> picture [781 x 271] intentionally omitted <==

----- Start of picture text -----

1
1 ↑12.8%
7 8 8 9 9 0 1
FY0 FY0 Stat FY0 FY0 Stat FY0 FY1 FY1
----- End of picture text -----

==> picture [179 x 12] intentionally omitted <==

Reflects growth normalised to remove the impact of the 53rd week in FY08

EBIT — UP 6.3% (7.5% EXCL NATURAL DISASTER COSTS)

$ million

==> picture [781 x 338] intentionally omitted <==

----- Start of picture text -----

EBIT growth T ota l
Group EBIT
underpinned
Australian
�7.5%
by solid �12.9% F oo d an d
Liquor EBIT
�15.1% �17.4%
growth in
�19.8% �17.5%
Australian
�24 . 2%
Food and
Liquor
FY07 FY08 Stat FY08 FY09 Stat FY09 FY10 FY11
----- End of picture text -----

Reflects growth normalised to remove the impact of the 53rd week in FY08

==> picture [179 x 12] intentionally omitted <==

CODB / SALES

Percentage

==> picture [781 x 68] intentionally omitted <==

==> picture [781 x 271] intentionally omitted <==

----- Start of picture text -----

In a
deflationary
environment
CODB was
well
controlled
Y07 Y08 Y09 Y10 Y11
F F F F F
----- End of picture text -----

==> picture [179 x 12] intentionally omitted <==

GROSS PROFIT MARGIN

Gross margins for the G h roup ave increased 12bps reflecting the benefits of global buying, the use of distribution centres in liquor , improved shrinkage rates, higher sales of exclusive brand products and the success of new store formats whilst delivering lower prices to customers

Percentage

Total GP Margin GP Margin ex Hotels

==> picture [179 x 12] intentionally omitted <==

SHAREHOLDER PAYOUTS

Estimated franking credits available for distribution (after final dividend) = $1,228m

==> picture [781 x 378] intentionally omitted <==

----- Start of picture text -----

$ million
Dividend
Buy‐Back
2,191
Profit growth,
coupled with
1,749 704 good
balance sheet
325
management,
1,487
1,424 will have
1,280
delivered over
941
1,121
$10.3 billion
894
534 604 payout to
141 693 shareholders
538
346
407 463 since July 2001
FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11
----- End of picture text -----

==> picture [179 x 12] intentionally omitted <==

CORPORATE RESPONSIBILITY REVIEW

==> picture [781 x 406] intentionally omitted <==

==> picture [179 x 12] intentionally omitted <==

CORPORATE RESPONSIBILITY REVIEW

CO2 REDUCTION ON TRACK

==> picture [223 x 57] intentionally omitted <==

37 ENERGY SAVING INITIATIVES IN 2011

==> picture [228 x 57] intentionally omitted <==

GOOD PROGRESS IN ETHICAL SOURCING

==> picture [223 x 57] intentionally omitted <==

==> picture [781 x 271] intentionally omitted <==

==> picture [215 x 16] intentionally omitted <==

==> picture [221 x 16] intentionally omitted <==

==> picture [216 x 16] intentionally omitted <==

==> picture [179 x 12] intentionally omitted <==

CORPORATE RESPONSIBILITY REVIEW

$62.3m COMMUNITY INVESTMENT

RECONCILIATION 30% REDUCTION ACTION PLAN LAUNCH IN LTIFR

==> picture [781 x 338] intentionally omitted <==

==> picture [222 x 16] intentionally omitted <==

==> picture [235 x 16] intentionally omitted <==

==> picture [234 x 16] intentionally omitted <==

==> picture [179 x 12] intentionally omitted <==

MY STRATEGIC PRIORITIES

EXTEND AND DEFEND 1 LEADERSHIP IN FOOD AND LIQUOR

2

ACT ON OUR PORTFOLIO TO MAXIMISE SHAREHOLDER VALUE

==> picture [781 x 68] intentionally omitted <==

MAINTAIN OUR TRACK RECORD OF BUILDING 3 NEW GROWTH BUSINESSES

PUT IN PLACE THE 4 ENABLERS FOR A NEW ERA OF GROWTH

==> picture [179 x 12] intentionally omitted <==

UNLOCK SALES GROWTH

==> picture [279 x 38] intentionally omitted <==

ACCELERATE FRESH LEADERSHIP

==> picture [283 x 38] intentionally omitted <==

==> picture [781 x 136] intentionally omitted <==

==> picture [279 x 12] intentionally omitted <==

EXTEND AND DEFEND LEADERSHIP BECOME #1 IN FOOD AND LIQUOR IN NEW ZEALAND

EXTEND LIQUOR LEADERSHIP

==> picture [281 x 9] intentionally omitted <==

==> picture [282 x 9] intentionally omitted <==

==> picture [781 x 136] intentionally omitted <==

==> picture [281 x 35] intentionally omitted <==

==> picture [282 x 40] intentionally omitted <==

==> picture [179 x 12] intentionally omitted <==

ALIGN OFFER TO NEW CUSTOMER REALITY

==> picture [305 x 18] intentionally omitted <==

==> picture [305 x 69] intentionally omitted <==

==> picture [305 x 68] intentionally omitted <==

ACT ON PORTFOLIO TO MAXIMISE SHAREHOLDER VALUE

==> picture [781 x 69] intentionally omitted <==

==> picture [301 x 13] intentionally omitted <==

MOST RESPONSIBLE PUB OPERATOR

==> picture [302 x 14] intentionally omitted <==

==> picture [293 x 39] intentionally omitted <==

==> picture [302 x 14] intentionally omitted <==

==> picture [301 x 4] intentionally omitted <==

==> picture [781 x 136] intentionally omitted <==

==> picture [293 x 21] intentionally omitted <==

==> picture [39 x 7] intentionally omitted <==

REVIEW OF DICK SMITH

==> picture [179 x 12] intentionally omitted <==

SCALE‐UP HOME IMPROVEMENT

LEADER IN

==> picture [279 x 25] intentionally omitted <==

MULTI‐CHANNEL RETAILING

==> picture [279 x 69] intentionally omitted <==

==> picture [191 x 52] intentionally omitted <==

==> picture [781 x 68] intentionally omitted <==

MAINTAIN TRACK RECORD OF BUILDING NEW BUSINESSES

==> picture [191 x 69] intentionally omitted <==

==> picture [191 x 68] intentionally omitted <==

==> picture [781 x 136] intentionally omitted <==

==> picture [222 x 11] intentionally omitted <==

==> picture [282 x 8] intentionally omitted <==

==> picture [221 x 14] intentionally omitted <==

CONSIDER INTERNATIONAL GROWTH

==> picture [220 x 14] intentionally omitted <==

==> picture [117 x 13] intentionally omitted <==

==> picture [179 x 12] intentionally omitted <==

NEXT STEP‐CHANGE IN SUPPLY CHAIN

CONTINUED COST REDUCTION

==> picture [781 x 69] intentionally omitted <==

LEVERAGING CUSTOMER DATA

==> picture [76 x 107] intentionally omitted <==

PUT IN PLACE FOR ENABLERS A NEW ERA OF GROWTH

==> picture [288 x 15] intentionally omitted <==

STRONG CAPITAL INVESTMENT

BEST RETAIL TALENT

==> picture [781 x 68] intentionally omitted <==

==> picture [288 x 47] intentionally omitted <==

==> picture [179 x 12] intentionally omitted <==

MY STRATEGIC PRIORITIES

EXTEND AND DEFEND 1 LEADERSHIP IN FOOD AND LIQUOR

2

ACT ON OUR PORTFOLIO TO MAXIMISE SHAREHOLDER VALUE

==> picture [781 x 68] intentionally omitted <==

MAINTAIN OUR TRACK RECORD OF BUILDING 3 NEW GROWTH BUSINESSES

PUT IN PLACE THE 4 ENABLERS FOR A NEW ERA OF GROWTH

==> picture [179 x 12] intentionally omitted <==

==> picture [781 x 271] intentionally omitted <==

JAMES STRONG Chairman

==> picture [781 x 136] intentionally omitted <==

==> picture [179 x 12] intentionally omitted <==

HOW TO VOTE

==> picture [130 x 5] intentionally omitted <==

The smartcard should have been inserted into your handset when you registered for the AGM

If the smartcard is not inserted into your handset l d p ease o so now

Make sure the arrows at the bottom of the smartcard are inserted and facing you

==> picture [205 x 7] intentionally omitted <==

==> picture [206 x 7] intentionally omitted <==

==> picture [206 x 6] intentionally omitted <==

==> picture [206 x 5] intentionally omitted <==

==> picture [205 x 5] intentionally omitted <==

==> picture [203 x 5] intentionally omitted <==

==> picture [781 x 136] intentionally omitted <==

==> picture [179 x 12] intentionally omitted <==

HOW TO VOTE

Insert the smartcard up to the red line. A welcome message will appear when the card is inserted correctly

==> picture [144 x 5] intentionally omitted <==

==> picture [208 x 7] intentionally omitted <==

==> picture [209 x 5] intentionally omitted <==

==> picture [781 x 203] intentionally omitted <==

==> picture [179 x 12] intentionally omitted <==

HOW TO VOTE

==> picture [159 x 5] intentionally omitted <==

When the poll opens , the handset will display the voting options being

==> picture [159 x 4] intentionally omitted <==

==> picture [160 x 4] intentionally omitted <==

==> picture [159 x 4] intentionally omitted <==

==> picture [159 x 5] intentionally omitted <==

==> picture [160 x 5] intentionally omitted <==

==> picture [160 x 4] intentionally omitted <==

1 to vote FOR the resolution 2 to vote AGAINST the resolution 3 to ABSTAIN or WITHHOLD your vote

==> picture [159 x 5] intentionally omitted <==

==> picture [160 x 4] intentionally omitted <==

==> picture [159 x 4] intentionally omitted <==

==> picture [205 x 7] intentionally omitted <==

==> picture [159 x 4] intentionally omitted <==

==> picture [206 x 8] intentionally omitted <==

==> picture [206 x 6] intentionally omitted <==

==> picture [206 x 5] intentionally omitted <==

Press the appropriate button on the handset to register your intentions

==> picture [205 x 5] intentionally omitted <==

==> picture [204 x 5] intentionally omitted <==

==> picture [159 x 4] intentionally omitted <==

==> picture [203 x 5] intentionally omitted <==

==> picture [781 x 136] intentionally omitted <==

==> picture [179 x 12] intentionally omitted <==

HOW TO VOTE

Your voting instruction will appear on the handset

“ Received ” will appear on your handset to indicate your vote has counted

==> picture [206 x 7] intentionally omitted <==

If you w s i h to c h ange your m n i d , s mp y i l enter your new choice

==> picture [207 x 7] intentionally omitted <==

==> picture [207 x 6] intentionally omitted <==

==> picture [207 x 5] intentionally omitted <==

==> picture [206 x 5] intentionally omitted <==

==> picture [205 x 5] intentionally omitted <==

==> picture [203 x 5] intentionally omitted <==

==> picture [202 x 5] intentionally omitted <==

==> picture [781 x 136] intentionally omitted <==

==> picture [179 x 12] intentionally omitted <==

HOW TO VOTE

==> picture [148 x 5] intentionally omitted <==

If you accidentally dislodge the smartcard a warning will appear on your screen and you may need to push the smartcard back into the handset

==> picture [147 x 4] intentionally omitted <==

==> picture [146 x 5] intentionally omitted <==

==> picture [146 x 4] intentionally omitted <==

==> picture [147 x 5] intentionally omitted <==

==> picture [146 x 4] intentionally omitted <==

==> picture [146 x 5] intentionally omitted <==

==> picture [146 x 4] intentionally omitted <==

==> picture [198 x 6] intentionally omitted <==

==> picture [199 x 8] intentionally omitted <==

==> picture [781 x 203] intentionally omitted <==

==> picture [179 x 12] intentionally omitted <==

HOW TO VOTE

When the poll opens , the handset will display the voting options being

1 to vote FOR the resolution 2 to vote AGAINST the resolution 3 to ABSTAIN or WITHHOLD your vote

==> picture [201 x 7] intentionally omitted <==

==> picture [202 x 6] intentionally omitted <==

==> picture [201 x 5] intentionally omitted <==

This will vote your open votes only, directed votes will go through automatically when you select one of the 3 options

==> picture [200 x 5] intentionally omitted <==

==> picture [201 x 5] intentionally omitted <==

==> picture [199 x 5] intentionally omitted <==

==> picture [198 x 4] intentionally omitted <==

==> picture [198 x 5] intentionally omitted <==

==> picture [197 x 6] intentionally omitted <==

==> picture [197 x 5] intentionally omitted <==

==> picture [197 x 7] intentionally omitted <==

==> picture [197 x 5] intentionally omitted <==

==> picture [197 x 6] intentionally omitted <==

Press the blue button if y our votes were split at registration

==> picture [197 x 6] intentionally omitted <==

==> picture [198 x 6] intentionally omitted <==

==> picture [198 x 5] intentionally omitted <==

==> picture [199 x 7] intentionally omitted <==

==> picture [199 x 6] intentionally omitted <==

==> picture [200 x 5] intentionally omitted <==

==> picture [200 x 7] intentionally omitted <==

==> picture [201 x 6] intentionally omitted <==

==> picture [179 x 12] intentionally omitted <==

HOW TO VOTE

==> picture [781 x 69] intentionally omitted <==

Please leave the handset and smartcard on your seat or hand them to a member of staff as you leave the room The handset has a built in alarm that will sound if you inadvertently leave the building w ith ou re urn ng t t i th e an h d se an t d smar car t d

==> picture [149 x 4] intentionally omitted <==

==> picture [148 x 4] intentionally omitted <==

==> picture [149 x 4] intentionally omitted <==

==> picture [148 x 5] intentionally omitted <==

==> picture [149 x 4] intentionally omitted <==

==> picture [207 x 7] intentionally omitted <==

==> picture [149 x 5] intentionally omitted <==

==> picture [148 x 4] intentionally omitted <==

==> picture [209 x 5] intentionally omitted <==

==> picture [209 x 6] intentionally omitted <==

==> picture [208 x 5] intentionally omitted <==

==> picture [207 x 5] intentionally omitted <==

==> picture [149 x 4] intentionally omitted <==

==> picture [205 x 5] intentionally omitted <==

==> picture [206 x 4] intentionally omitted <==

==> picture [781 x 136] intentionally omitted <==

==> picture [179 x 12] intentionally omitted <==

HOW TO VOTE

==> picture [781 x 69] intentionally omitted <==

If you have any questions or issues in using the handset please raise your hand and one of the attendants in the auditorium will be able to assist you Thank you for your attention

==> picture [149 x 4] intentionally omitted <==

==> picture [148 x 4] intentionally omitted <==

==> picture [149 x 4] intentionally omitted <==

==> picture [208 x 7] intentionally omitted <==

==> picture [149 x 4] intentionally omitted <==

==> picture [210 x 8] intentionally omitted <==

==> picture [781 x 203] intentionally omitted <==

==> picture [179 x 12] intentionally omitted <==

==> picture [781 x 271] intentionally omitted <==

SHAREHOLDER QUESTIONS

==> picture [781 x 136] intentionally omitted <==

==> picture [179 x 12] intentionally omitted <==

==> picture [781 x 271] intentionally omitted <==

1. FINANCIAL STATEMENTS

==> picture [781 x 136] intentionally omitted <==

==> picture [179 x 12] intentionally omitted <==

==> picture [781 x 271] intentionally omitted <==

2. REMUNERATION REPORT

==> picture [781 x 136] intentionally omitted <==

==> picture [179 x 12] intentionally omitted <==

RESOLUTION 2 – REMUNERATION REPORT

==> picture [781 x 69] intentionally omitted <==

For Against O pen

398,303,362 81,565,597 18,897,891

79.86% 16.35% 3.79%

==> picture [179 x 12] intentionally omitted <==

==> picture [781 x 271] intentionally omitted <==

3. ELECTION OF DIRECTORS

==> picture [781 x 136] intentionally omitted <==

==> picture [179 x 12] intentionally omitted <==

RODERICK DEANE

==> picture [781 x 406] intentionally omitted <==

==> picture [402 x 69] intentionally omitted <==

==> picture [179 x 12] intentionally omitted <==

RESOLUTION 3(A) – ELECTION OF DIRECTORS RODERICK DEANE

For 94.47% 487,746,217 Against 1.69% 8,711,542 O pen 3.84% 19,814,324

==> picture [179 x 12] intentionally omitted <==

JILLIAN BROADBENT

==> picture [781 x 406] intentionally omitted <==

==> picture [349 x 69] intentionally omitted <==

==> picture [179 x 12] intentionally omitted <==

RESOLUTION 3(B) – ELECTION OF DIRECTORS JILLIAN BROADBENT

For Against O pen

95.66% 493,808,506 0.51% 2,607,092 19,807,428 3.84%

==> picture [179 x 12] intentionally omitted <==

RALPH WATERS

==> picture [358 x 40] intentionally omitted <==

==> picture [781 x 406] intentionally omitted <==

==> picture [358 x 69] intentionally omitted <==

==> picture [179 x 12] intentionally omitted <==

RESOLUTION 3(C) – ELECTION OF DIRECTORS RALPH WATERS

For 95.48% 492,770,129 Against 0.66% 3,405,300 O pen 3.86% 19,914,605

==> picture [179 x 12] intentionally omitted <==

==> picture [781 x 271] intentionally omitted <==

4. LONG TERM INCENTIVE PLAN

==> picture [781 x 136] intentionally omitted <==

==> picture [179 x 12] intentionally omitted <==

RESOLUTION 4 – LONG TERM INCENTIVE PLAN

==> picture [781 x 69] intentionally omitted <==

For 87.11% 448,627,705 Against 9.24% 47,602,830 O pen 3.65% 18,773,517

==> picture [179 x 12] intentionally omitted <==

AGM 2011

24 November 2011

AI assistant

WOOLWORTHS GROUP LIMITED — AGM Information 2011

66075_rns_2011-11-23_0322b4a1-d4a3-4004-9c74-66afa280b455.pdf

JAMES STRONG Chairman

DIVIDENDS PER SHARE ‐ UP 6.1%

EARNINGS PER SHARE ‐ UP 6.5%

Cents

JAMES STRONG Chairman

GRANT O’BRIEN Chief Executive Officer

HIGHLIGHTS — FINANCIAL YEAR 2011

PROFIT AFTER TAX — UP 5.1% (6.4% EXCL NATURAL DISASTER COSTS)

$ million

EBIT — UP 6.3% (7.5% EXCL NATURAL DISASTER COSTS)

$ million

CODB / SALES

Percentage

GROSS PROFIT MARGIN

SHAREHOLDER PAYOUTS

Estimated franking credits available for distribution (after final dividend) = $1,228m

CORPORATE RESPONSIBILITY REVIEW

CORPORATE RESPONSIBILITY REVIEW

CORPORATE RESPONSIBILITY REVIEW

MY STRATEGIC PRIORITIES

2

UNLOCK SALES GROWTH

ACCELERATE FRESH LEADERSHIP

ALIGN OFFER TO NEW CUSTOMER REALITY

ACT ON PORTFOLIO TO MAXIMISE SHAREHOLDER VALUE

MOST RESPONSIBLE PUB OPERATOR

REVIEW OF DICK SMITH

LEADER IN

MULTI‐CHANNEL RETAILING

MAINTAIN TRACK RECORD OF BUILDING NEW BUSINESSES

NEXT STEP‐CHANGE IN SUPPLY CHAIN

CONTINUED COST REDUCTION

LEVERAGING CUSTOMER DATA

MY STRATEGIC PRIORITIES

2

JAMES STRONG Chairman

HOW TO VOTE

HOW TO VOTE

HOW TO VOTE

HOW TO VOTE

HOW TO VOTE

HOW TO VOTE

HOW TO VOTE

HOW TO VOTE

SHAREHOLDER QUESTIONS

1. FINANCIAL STATEMENTS

2. REMUNERATION REPORT

RESOLUTION 2 – REMUNERATION REPORT

3. ELECTION OF DIRECTORS

RODERICK DEANE

RESOLUTION 3(A) – ELECTION OF DIRECTORS RODERICK DEANE

JILLIAN BROADBENT

RESOLUTION 3(B) – ELECTION OF DIRECTORS JILLIAN BROADBENT

RALPH WATERS

RESOLUTION 3(C) – ELECTION OF DIRECTORS RALPH WATERS

4. LONG TERM INCENTIVE PLAN

RESOLUTION 4 – LONG TERM INCENTIVE PLAN

More from WOOLWORTHS GROUP LIMITED

WOOLWORTHS GROUP LIMITED AGM Information 2011