WOOLWORTHS GROUP LIMITED — Annual Report 2014

Nov 26, 2014

RALPH WATERS

Chairman

Financial Results 2014

NET PROFIT AFTER TAX S2.45b

CONTINUING OPERATIONS BEFORE SIGNIFICANT ITEMS1

14.2% or 16.1%²

TOTAL GROUP 5%

1. Refer to the 2014 Annual Report for further information on the significant items 2. Excluding the impact of the 53^rd week in FY13. For financial reporting, FY14 represented 52 weeks and FY13 represented 53 weeks

Shareholder Returns

FY14 DIVIDENDS

$1374$ PER
SHARE

FY13 DIVIDENDS 133¢ PER
SHARE

Shareholder Returns

EARNINGS PER SHARE

CONTINUING OPERATIONS BEFORE SIGNIFICANT ITEMS1 3% OR 5.2 TOTAL FY14 DIVIDENDS b 70% OF
OUR PROFIT

1. Refer to the 2014 Annual Report for further information on the significant items

2. Excluding the impact of the 53^rd week in FY13. For financial reporting, FY14 represented 52 weeks and FY13 represented 53 weeks

GRANT O'BRIEN Managing Director and Chief Executive Officer

Highlights for FY14

CONTINUING OPERATIONS NET PROFIT AFTER TAX BEFORE SIGNIFICANT ITEMS1 \$2.456 14.2% 6.1%

SALES

CONTINUING OPERATIONS

\$60.8b

13.9% 5.9%

1. Refer to the 2014 Annual Report for further information on the significant items 2. Excluding the impact of the 53^rd week in FY13. For financial reporting, FY14 represented 52 weeks and FY13 represented 53 weeks

#1 Extend our leadership in Food and Liquor

PROGRESS DURING FY14 INCLUDED

• Increased comparable sales and EBIT growth over the past three years
• Continued to provide our customers with best offers, best value and best access
• Each week served an average of 21.1m Australian Food and Liquor customers
• Australia's 'First Choice for Fresh' and strong support for local producers
• Provided greater access for our customers with 34 (net) new Australian Supermarkets and 11 Dan Murphy's
• New Zealand Supermarkets continue to deliver pleasing results
• Further reinforced our position as Australia's premier liquor destination with market leading store and online formats

Wool worths Limited

#2 Maintain our track record of building new growth businesses

Customer Service

ADAM

PROGRESS DURING FY14 INCLUDED

• Extending our leadership as Australasia's largest domestic online retailer, online sales of more than \$1.2b
• Liquor division highlights our ability to build and deliver world class multichannel retail offers
• Home Improvement has established a solid foundation and we remain confident it will be a material profit contributor to the Woolworths Group in the years to come

#3 Put in place the enablers for a new era of growth

PROGRESS DURING FY14 INCLUDED

• Commenced Mercury II to strengthen our supply chain and drive next generation capability
• 7.9 million Everyday Rewards members in Australia and 1.9 million Onecard loyalty club members in New Zealand
• Used data analytics to better understand our customers' needs
• Assembling a world class leadership team that blends the best local and international talent

#4 Act on our portfolio to maximise shareholder value

BIGW

IGW DANIEL

O)

• Continue to manage our balance sheet with the divestment of a \$600 million portfolio of freehold Hotel sites
• Driving the BIG W growth strategy whilst also bringing a strong focus on execution and operational excellence
• Continued our ambition to run Australia's best and most responsible hotels with our industry leading hotel and gaming charter and commenced the roll out of voluntary pre-commitment functionality

Total Shareholder Returns: 2004 to 2014

Source: Bloomberg Finance LP Indexed Total Shareholder Returns (TSR) for period ending 21st November 2014

We employ more than 198,000 employees

Inserting your smartcard

• . Insert your personal smartcard into the top of the handset
• The chip should be facing you and at the bottom of the card

How To Use Your Handset

• A welcome message will briefly appear on screen when your card has been inserted
• . You will then be returned to the holding screen where your name will now appear at the top of the display

Casting Your Vote

• Press 1 to vote FOR
• Press 2 to vote AGAINST
• Press 3 if you wish to ABSTAIN

Vote Confirmation

• Your selection will now be indicated on your handset screen
• To change your vote, press 1,2,3 or X to cancel

SHAREHOLDER QUESTIONS

1. FINANCIAL STATEMENTS

2. ELECTION OF DIRECTORS

JILLIAN ROSEMARY BROADBENT

Resolution 2 - Election of Directors Jillian Rosemary Broadbent

FOR AGAINST OPEN 547,134,920 4,372,580 18,111,499

96.05%

$0.77\%$

3.18%

SCOTT REDVERS PERKINS

Resolution 2 - Election of Directors Scott Redvers Perkins

FOR	AGAINST	OPEN
543,638,391	4,583,965	21,061,819

95.50%

0.80%

3.70%

STEPHEN MAYNE

Resolution 2 - Election of Directors Stephen Mayne

FOR AGAINST OPEN 22,961,789 528,057,791 17,510,159

92.89% 3.08% 4.03%

RALPH GRAHAM WATERS

RALPH GRAHAM WATERS

Resolution 2 - Election of Directors Ralph Graham Waters

FOR	AGAINST	OPEN
544,179,124	6,903,966	18,287,236

95.57% 1.22% 3,21%

3. LONG TERM INCENTIVE PLAN

Resolution 3 - Long Term Incentive Plan

AGAINST FOR OPEN 17,957,726 532,867,432 17,554,334

93.75%

3.09%

3.16%

4. ADOPTION OF REMUNERATION REPORT

Resolution 4 - Adoption of Remuneration Report

AGAINST FOR OPEN 534,464,283 14,127,052 18,063,728

2.49% 3.19% 94.32%