WOOLWORTHS GROUP LIMITED — Investor Presentation 2021

Feb 23, 2021

==> picture [248 x 45] intentionally omitted <==

24 February 2021

ASX Market Announcements Office Australian Securities Exchange 20 Bridge Street Sydney NSW 2000

Half-Year Results Presentation

Attached for release to the market is the Half-Year Results Presentation for the period ended 3 January 2021.

Authorised by: Michelle Hall, Company Secretary

For further information contact:

Media: Woolworths Group Press Office: +61 2 8885 1033 media@woolworths.com.au Investors and Analysts: Paul van Meurs, Head of Investor Relations: +61 407 521 651

Woolworths Group Limited ABN 88 000 014 675 1 Woolworths Way, Bella Vista NSW 2153

COMPANY RESULTS 1 HALF-YEAR 2021

==> picture [192 x 34] intentionally omitted <==

==> picture [313 x 84] intentionally omitted <==

==> picture [720 x 6] intentionally omitted <==

Woolworths Group Purpose

==> picture [720 x 463] intentionally omitted <==

Contents

H1 F21 Group Summary & Progress 4 Brad Banducci Group Financial Results & 10 Capital Management Stephen Harrison Business Performance Update 21 Outlook 50 Brad Banducci

==> picture [376 x 492] intentionally omitted <==

==> picture [720 x 6] intentionally omitted <==

==> picture [107 x 33] intentionally omitted <==

50

H1 F21 summary

4

COMPANY RESULTS HALF-YEAR 2021

Strong Group customer, brand and reputation metrics

Increased in-home consumption in H1 delivering double-digit Group sales and EBIT growth

Scaling up of Digital and eCom capacity and services delivering strong sales growth

Material profit improvement for BIG W

Improvements in team safety in H1 and successful execution of a COVIDSafe Christmas

==> picture [720 x 6] intentionally omitted <==

COMPANY RESULTS 5 HALF-YEAR 2021

Woolworths Group F21 priorities

Maintain trust with our customers, team and communities

Deliver store and eStore propositions that meet changing customer needs

Futureproof our E2E operating model

==> picture [427 x 332] intentionally omitted <==

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

Better Together for a Better Tomorrow
for our customers, teams and communities
Accelerate Digital, eCom and convenience
for connected customers
Differentiate our Stand up Evolve our Portfolio
food customer Endeavour Group & build adjacencies
propositions
Keep our business COVIDSafe and futureproof
our E2E operating model
----- End of picture text -----

We create better experiences together for a better tomorrow

==> picture [134 x 40] intentionally omitted <==

==> picture [720 x 6] intentionally omitted <==

COMPANY RESULTS 6 HALF-YEAR 2021

Progress against key priorities (i)

==> picture [10 x 11] intentionally omitted <==

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

==> picture [10 x 12] intentionally omitted <==

1 Better Together for a Better Tomorrow for our Customers, Teams, and Communities

• December VOC NPS improved across all businesses supported by customer Care metrics

• Woolworths named Australia’s most valuable brand (Brand Finance) and most trusted brand (Roy Morgan)

• Committed to 100% green energy by 2025; 6.7 million meals donated in H1 via OzHarvest

• Further progress on salaried team member remediation with $228m paid in H1

• More to do to maintain momentum in brand advocacy

==> picture [10 x 10] intentionally omitted <==

==> picture [51 x 33] intentionally omitted <==

2 Accelerate Digital, eCom and Convenience for our increasingly Connected Customers

• Record digital traffic and eCom sales

• Material increases in eCom capacity and range of services across X businesses

• New CFCs opened in Notting Hill and Lidcombe as well as Wellington, NZ; commissioned first eStore with Takeoff in Carrum Downs

• Continued growth in loyalty members, scan rates and app usage

• More to do to accelerate digital, improve eCom customer experience and operating efficiency

==> picture [35 x 26] intentionally omitted <==

3 Differentiateour Food Customer Propositions

• Tailored customer store propositions launched at Crows Nest, Park Sydney and Cabramatta

• 13 new stores and 45 Renewals completed in H1 in Australia and New Zealand

• Strong sell-through of seasonal product reflecting Own Brand resonance; retained title of healthiest supermarket Own Brand (The George Institute)

• Launched a new online Healthier Options tool for customers

• More to do to adapt our store and deliver personalised value for our customers

==> picture [720 x 6] intentionally omitted <==

COMPANY RESULTS HALF-YEAR 2021

7

Progress against key priorities (ii)

• Strong trading momentum in H1 in Drinks and progress in online and digital

==> picture [16 x 26] intentionally omitted <==

4 Stand-up Endeavour Group

• Hotels more resilient than expected despite operating restrictions

• Progress on operating model to build more effective shared capabilities across Endeavour Group

• Continued preparation for separation of Endeavour Group; targeting June demerger

• More to do to maintain momentum and successfully execute demerger

• Material profit improvement for BIG W in H1

• Announced acquisition of PFD in August; ACCC decision expected in April

==> picture [10 x 15] intentionally omitted <==

5 Evolve our Portfolio & Build Strong Adjacencies

• Progress in scaling up Cartology, Woolworths International and Woolworths@Work during the half

• Supply Chain rebranded to Primary Connect as it evolves to become an end-to-end logistics service provider

• More to do to build out the Woolworths Group ecosystem

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

• Continued improvements in team safety with a reduction in TRIFR of 16% in H1 despite challenges of COVID

• Successfully executed a COVIDSafe Christmas across operations for customers and team

Keep our Business 6 COVIDSafe and Future Proof our E2E Operating Model

• Solid progress on scaling MSRDC, now consistently over 2 million cases per week

• New Melbourne Fresh DC opened early and successful Townsville and Adelaide expansions

• More to do to progress supply chain transformation

==> picture [720 x 6] intentionally omitted <==

COMPANY RESULTS HALF-YEAR 2021

8

Woolworths Group Food and Everyday Needs Ecosystem

Providing additional services and points of presence for customers so they can shop when, where & how they want

Leveraging our Food business for B2B customers and foodservice adjacencies both, domestic and international

Enabling our Woolworths businesses with strong digital platforms (e.g. Digital & Media, Loyalty & Fintech)

Extending choice for our customers to meet their everyday needs (via our businesses and partners)

==> picture [720 x 6] intentionally omitted <==

COMPANY RESULTS 9 HALF-YEAR 2021

Working together to create a better tomorrow

01 02 We act like a We care for, leader and speak and unlock the up on issues potential of, that matter our people

03 We have a positive impact on the planet

04 05 We apply We embrace circular thinking the power of in everything partnerships to we do create change

PEOPLE

• Be a truly inclusive workplace

• Invest in the holistic wellbeing of our team

• Create meaningful retail careers in the workplace of the future

• Activate ethical and mutually beneficial partnerships through the whole value chain

• Have a positive impact on our customers and communities

PLANET

• 100% green electricity by 2025

• Zero food waste to landfill by 2025

• Reduce carbon emissions by 63% by 2030 compared to a 2015 baseline

• Net positive carbon emissions by 2050

• Practise responsible stewardship of natural resources

PRODUCT

• Materially increase healthier choices in our customers’ baskets

• 100% of Own Brand packaging is sustainable by 2025

• 100% of Own Brand sourcing is sustainable by 2025

• Lead the future of protein

• Lead the responsible service and consumption of alcohol and gaming

==> picture [720 x 6] intentionally omitted <==

Contents

H1 F21 Group Summary & Progress Brad Banducci

Group Financial Results & Capital Management Stephen Harrison

Group financial results Key balance sheet metrics Capital management framework Cash flow summary Capital expenditure Capital management

Business Performance Update

Outlook

Brad Banducci

4

10

==> picture [374 x 492] intentionally omitted <==

==> picture [720 x 6] intentionally omitted <==

==> picture [107 x 33] intentionally omitted <==

21

50

Financial Results and Capital Management

==> picture [168 x 16] intentionally omitted <==

H1 F21 results summary

COMPANY RESULTS HALF-YEAR 2021

12

	H21	H20
$ MILLION	(27 WEEKS)	(27 WEEKS)	CHANGE
Before significant items
Sales	35,845	32,410	10.6%
EBIT	2,092	1,893	10.5%
NPAT attributable to equity holders of the parent entity	1,135	979	15.9%
Basic EPS – cents	90.5	77.9	16.1%
After significant items
EBIT	2,092	1,762	18.7%
NPAT attributable to equity holders of the parent entity	1,135	887	28.0%
Basic EPS – cents	90.5	70.6	28.1%
Dividend per share – cents	53	46	15.2%

==> picture [720 x 6] intentionally omitted <==

COMPANY RESULTS 13 HALF-YEAR 2021

Strong improvement in Group EBIT despite Hotels decline

	H21	H20
$ MILLION	(27 WEEKS)	(27 WEEKS)	CHANGE
Before significant items
Australian Food	1,329	1,177	13.0%
New Zealand Food	181	175	3.0%
New Zealand Food (NZD)	194	186	4.4%
BIG W	133	50	165.7%
Endeavour Drinks	419	338	24.1%
Hotels	122	224	(45.4)%
Central overheads	(92)	(71)	29.9%
EBIT before significant items	2,092	1,893	10.5%
Significant items	-	(131)	n.m.
Group EBIT	2,092	1,762	18.7%
EBIT before significant items excluding Hotels	1,970	1,669	18.0%

==> picture [720 x 6] intentionally omitted <==

COMPANY RESULTS 14 HALF-YEAR 2021

Group COVID costs continue to moderate

$ MILLION	H1 F21	Q2’21 (13 WEEKS)	Q1’21 (14 WEEKS)	H2 F20	Q4’20 (12 WEEKS)	Q3’20 (13 WEEKS)
Cleaning and PPE	91	32	59	105	74	31
Contractors and security 13 5 8 54 39 15 Team costs1 60 21 39 117 86 31 Supply chain 61 20 41 49 29 20
COVID costs before discretionary payments 225 78 147 325 228 97 Team discounts, incentives & recognition payments2 47 22 25 67 49 18
Donations3	5	1	4	12	11	1
Total COVID costs	277	101	176	404	288	116
COVID costs as a % of sales	0.8%	0.6%	1.0%	2.0%4	2.0%	2.1%5

1 Represents incremental team members and roles, to support COVID crisis management and customer and team safety (and excludes any incremental variable cost driven by higher sales)

2 Only includes incremental recognition payments above portion funded by reduction in awards to STI eligible team members in F20. Cost of team discounts netted off against sales 3 FareShare, OzHarvest, Foodbank Australia and Basics Box donations

4 Calculated based on sales from March to June 2020

5 Calculated based on sales for March 2020 only

Note: Excludes costs of closure of stores and hotels in Victoria

==> picture [720 x 6] intentionally omitted <==

COMPANY RESULTS HALF-YEAR 2021

15

Reduction in Group inventory days due to strong sales growth; ROFE up 74 bps on F20, down 25 bps on H1 F20 due to Hotels

Average inventory days

Days

Normalised ROFE

Percentage

==> picture [302 x 241] intentionally omitted <==

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

Continuing operations
Group
41.3
40.5
40.3
39.3
38.9
38.3
37.3
37.1
35.8 35.8
H17 H18 H19 H20 H21
----- End of picture text -----

Average inventory days from continuing operations declined by 3.1 days on the prior year due to strong sales growth driving faster inventory turns, despite higher closing inventory levels

Continuing operations

==> picture [308 x 261] intentionally omitted <==

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

14.6
14.4
13.7
H20 F20 H21
----- End of picture text -----

Group ROFE declined by 25 bps compared to H1 F20 due to a reduction in Hotels EBIT. ROFE increased by 74 bps compared to June 2020

All numbers exclude significant items in F19 and F20

==> picture [720 x 6] intentionally omitted <==

COMPANY RESULTS HALF-YEAR 2021

16

Capital management framework

		Strong operating cash flow generation tal cash generated by
	To o	tal cash generated by
		perating activities up 39.7% at $2.9b					53 cps interim dividend up 15.2%
		Sustaining capital Typically 70–75% dividend payout (fully franked)
		Free cash flow sh realisation ratio of
	Ca	sh realisation ratio of
		115%

==> picture [720 x 6] intentionally omitted <==

COMPANY RESULTS 17 HALF-YEAR 2021

Strong free cash flow and cash realisation

$ MILLION	H21 (27 WEEKS)	H20 (27 WEEKS)	CHANGE
EBITDA 3,415 3,141 8.7% Significant items - (131) n.m.
Group EBITDA 3,415 3,010 13.4% Working capital and non-cash movements 358 (59) n.m.
Operating activities before interest & tax 3,773 2,951 27.9% Interest paid – leases (407) (414) (1.6)% Net interest paid – non-leases (67) (91) (26.1)% Tax paid (419) (385) 8.8%
Operating activities 2,880 2,061 39.7% Investing activities (710) (761) (6.6)%
Free cash flow before lease payments, dividends and share issues 2,170 1,300 66.9% Repayment of lease liabilities (618) (602) 2.7% Dividends and share payments (525) (649) (19.1)%
Free cash flow after lease payments, dividends and share issues 1,027 49 n.m.
Cash realisation ratio (CRR) 115% 95%

==> picture [720 x 6] intentionally omitted <==

COMPANY RESULTS HALF-YEAR 2021

18

Operating capex increase due to Renewals, IT and Digital spend

Operating capex

Operating capex
$ MILLION	H21	H20
Sustaining capex	568	428
Growth capex	267	255
Operating capex	835	683
Property development1	174	222
Gross capex	1,009	905
Property sales	(225)	(174)
Group net capex	784	731
Lease asset additions	405	291

Sustaining capex

	Sustaining capex
	$ MILLION H21 H20
	SIB 129 111 Renewals 191 156 Supply chain 58 42 IT 115 67 Productivity 75 52 $ MILLION H21 H20 Growth capex
	New stores 74 66 eCom / Digital 103 65 Other growth 90 124

F21 operating capex expected to be $1.8-1.9 billion, driven by investment in eCom, digital and supply chain

1 Property acquisitions now included in property development, previously in operating capex. The comparative has been re-presented on the same basis

==> picture [720 x 6] intentionally omitted <==

COMPANY RESULTS HALF-YEAR 2021

19

Primary Connect (Supply Chain) update

Melbourne South RDC (Ambient)

==> picture [171 x 92] intentionally omitted <==

• Carton throughput increasing

• Plans to transition volumes from other VIC sites in H2

Melbourne Fresh DC

==> picture [171 x 95] intentionally omitted <==

• Opened ahead of schedule and operating well

• Transition from existing 3PL providers to be completed in Q4

Adelaide RDC (Ambient, Liquor, TC)

==> picture [171 x 94] intentionally omitted <==

• Expansion completed in June’20

• Supported VIC during COVID

Townsville RDC (Ambient, Liquor))

==> picture [171 x 95] intentionally omitted <==

• Expansion completed in May’20

• Sustained service levels during recent flooding

Heathwood DC QLD (Frozen and Chilled)

==> picture [170 x 93] intentionally omitted <==

• Completion on track for Oct’21

• Expected to go live in Feb’22

Moorebank NSW RDC and NDC

==> picture [171 x 97] intentionally omitted <==

• Progressing to plan

• Full DA approval received

==> picture [720 x 6] intentionally omitted <==

COMPANY RESULTS HALF-YEAR 2021

20

Dividends and funding

53 cps interim dividend up 15.2%

Sources of funding and liquidity remain strong

==> picture [105 x 9] intentionally omitted <==

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

Dividends (cents per share)
----- End of picture text -----

==> picture [288 x 164] intentionally omitted <==

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

102 10 8
94
57
48
8
45 46 53
-2
F19 1 F20 F21
Non-recurring
Final Interim Interim payout ratio [2]
53rd week & Petrol
----- End of picture text -----

==> picture [267 x 172] intentionally omitted <==

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

Debt maturity profile ($m)
2,000
1,500
1,000
500
-
2021 2022 2023 2024 2025 Beyond
Bank debt [4] Capital markets debt
----- End of picture text -----

• Fully franked interim dividend of 53 cps, up 15.2% with dividend growth on the prior year broadly in line with NPAT of 15.9%[2] ; and

• DRP via share issuance, no discount

Committed to solid investment-grade credit ratings

S&P: BBB (stable outlook)[3] Moody’s: Baa2 (stable outlook)[3]

Credit metrics have significant headroom above thresholds for current ratings

• In September 2020, the US$617 million US Senior Notes matured and in November 2020 the JPY20 billion European Medium Term Notes also matured. These were refinanced with the Australian Medium Term Notes issued in May 2020

• In April 2021, the US$438 million US Senior Notes are due to mature. The Group intends to refinance this maturity

• Net debt[5] of $447 million (H1 F20: $1,543m)

• 1 Includes discontinued operations (Petrol) and 53rd trading week

• 2 Based on Group NPAT attributable to equity holders of the parent entity before significant items

• 3 Credit ratings issued by a credit rating agency which holds an Australian Financial Services Licence authorised to issue credit ratings to wholesale clients only and are published for the benefit of the Group’s debt providers 4 Total committed facilities (drawn and undrawn)

• 5 Excluding lease liabilities

==> picture [720 x 6] intentionally omitted <==

4

10

Contents

H1 F21 Group Summary & Progress Brad Banducci

Group Financial Results & Capital Management Stephen Harrison

Business Performance Update

Outlook Brad Banducci

==> picture [374 x 492] intentionally omitted <==

==> picture [720 x 6] intentionally omitted <==

==> picture [107 x 33] intentionally omitted <==

21

50

==> picture [720 x 540] intentionally omitted <==

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

COMPANY RESULTS
22
HALF-YEAR 2021
----- End of picture text -----

COMPANY RESULTS HALF-YEAR 2021

Australian Food

23

==> picture [93 x 34] intentionally omitted <==

	H21 H20 CHANGE Sales ($m) 23,449 21,200 10.6% EBITDA ($m) 2,128 1,929 10.3% EBIT ($m) 1,329 1,177 13.0% Gross margin (%) 29.2 29.1 11 bps CODB (%) 23.6 23.6 (1) bps EBIT to sales (%) 5.7 5.6 12 bps Sales per square metre ($) 18,538 17,236 7.6% ROFE before significant items (%) 25.9 25.2 78 bps

COMPANY RESULTS HALF-YEAR 2021

24

Customer metrics strong reflecting well executed Christmas plan and COVIDSafe focus

==> picture [93 x 34] intentionally omitted <==

VOC NPS - Store & Online[1]

% promoters - % detractors

Store-controllable VOC[2]

% customers satisfied, 6 & 7 out of 7

==> picture [598 x 263] intentionally omitted <==

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

+1 +1
53
52
51
50
80 82 80 81
44
n.m0 [3]
Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21
----- End of picture text -----

2 In F20, Store-controllable VOC was re-weighted from seven metrics to five

3 A comparable Store-controllable VOC was not available in Q3 F20 given the suspension of in-store Pick up and material impact on availability due to COVID

==> picture [720 x 15] intentionally omitted <==

1 VOC NPS - Store & Online weighted 70% Store and 30% Online

COMPANY RESULTS HALF-YEAR 2021

25

Strong sales growth in H1 with COVID driving less frequent shops and bigger baskets

==> picture [93 x 34] intentionally omitted <==

==> picture [644 x 319] intentionally omitted <==

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

Total sales (% year on year) Comp transactions (% year on year)
0.7 0.5
12.9
11.3
9.3
8.3
-9.3 -9.0
-11.0
Q2'20 Q3'20 Q4'20 1 Q1'21 Q2'21
4.9
Comp items per basket (% year on year)
15.4 15.8
1
Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 13.0
6.2
Comp sales growth (% year on year)
----- End of picture text -----

==> picture [304 x 141] intentionally omitted <==

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

15.4 15.8
13.0
6.2
0.9
1
Q2'20 Q3'20 Q4'20 Q1'21 Q2'21
----- End of picture text -----

==> picture [298 x 52] intentionally omitted <==

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

Q2’20 Q3’20 Q4’20 [1] Q1’21 Q2’21
3.8 10.3 8.9 11.5 7.1
----- End of picture text -----

==> picture [720 x 15] intentionally omitted <==

1 Normalised for the impact of the 53rd week in F19

COMPANY RESULTS HALF-YEAR 2021

26

Living our core value of ‘We Care Deeply’

==> picture [93 x 34] intentionally omitted <==

COVID response

OzHarvest

WIRES

==> picture [242 x 129] intentionally omitted <==

PPE including disposable face masks and sanitiser available for all team members. Perspex screens at checkouts and extra cleaning of high touch surfaces

$168 million

COVID costs to support hygiene, safety and social distancing across store and supply chain network

Support for our team through paid special leave, mental health support and additional staff discount

Woolworths’ 6th annual OzHarvest Christmas Appeal raised a record $3.4 million to fund 6.7 million meals for Australians in need

==> picture [80 x 53] intentionally omitted <==

==> picture [121 x 64] intentionally omitted <==

Feed Appeal

Rounding up sales transactions to the nearest dollar has enabled Woolworths to award 52 grants to urban, rural, and regional food relief organisations

S.T.A.N.D

Customers continued to support S.T.A.N.D (Supporting Through Australian Natural Disasters) with $2.3 million donated to charity partners

==> picture [98 x 43] intentionally omitted <==

==> picture [114 x 37] intentionally omitted <==

A year after the devastating bushfires across Australia, Woolworths continues to support WIRES, including donating 10 cents from every pack of Reindeer Carrots sold over Christmas raising $334,000

==> picture [120 x 121] intentionally omitted <==

Growing grassroots

We raised a record-breaking $1.1 million in our Halloween Appeal, in support of our long standing partnerships with children's charities

We extended our partnership with Netball Australia, supporting >715,000 participants and continued our relationship with Cricket Australia

==> picture [720 x 15] intentionally omitted <==

Australian Food F21 strategy

COMPANY RESULTS 27 HALF-YEAR 2021

==> picture [93 x 34] intentionally omitted <==

Better customer and team experience for a better tomorrow

We bring a little good to everyone, everyday Accelerate Digital and eCom for our connected customers

Deliver core propositions to meet changing customer needs

Futureproof our E2E operating model

Personalise Value Safe, Fast & Friendly Lead in Fresh & & Localised Range Experiences Make Health Easier Keep our business COVIDSafe and futureproof our E2E operating model

==> picture [352 x 19] intentionally omitted <==

==> picture [125 x 46] intentionally omitted <==

==> picture [720 x 15] intentionally omitted <==

COMPANY RESULTS 28 HALF-YEAR 2021

Progress against F21 priorities

==> picture [93 x 34] intentionally omitted <==

Better customer and team experience for a better tomorrow

SHARING THE SPIRIT OF CHRISTMAS

24 Days of Good Acts in stores recognising team, and caring for our customers and communities

REWARDS ENGAGEMENT

ACCELERATED ECOM

12.8 m 1.5 m 91.8% 627 stores with Total Everyday Members H1 eCommerce Rewards participated in glass Sales Growth Direct to boot Members containers offer 7.7% sales penetration service

Deliver core propositions to meet changing customer needs

HEALTHY AND DIFFERENTED RANGE

Recognised as the Healthiest Own Brand for the second year BBQ range launched for summer, Gold Christmas range celebrated native Australian ingredients

SAFE, FAST AND FRIEDLY TAILORED FORMATS EXPERIENCE

UP range trialled in Crows Nest and Metro Park Sydney Expanded ethnic range trialled in Cabramatta

Care metrics materially lifted in December Trialling Scan & Go

Futureproof our E2E operating model

SIMPLER FOR STORES

Rollout of technology based tool (Shout) to support better availability in long-life

E2E STOCK LOSS

Embed good processes including waste and markdown tool in fresh. Welcome gates now in 786 stores

SUPPLY CHAIN NETWORK

Opened Melbourne Fresh DC ; increased volumes through Melbourne South RDC

==> picture [720 x 15] intentionally omitted <==

Format and network highlights

COMPANY RESULTS 29 HALF-YEAR 2021

==> picture [93 x 34] intentionally omitted <==

==> picture [106 x 81] intentionally omitted <==

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

13
----- End of picture text -----

Opened 13 (net) new stores and completed 35 Renewals in Woolworths Supermarkets and Metro Food Stores in H1 F21 bringing the total store network to 1,064 stores

==> picture [138 x 232] intentionally omitted <==

Progressed against sustainability targets with an additional 41 solar PV systems (including largest to date at Adelaide RDC)

Total emission reduction of over 55,000tCO2e from our energy initiatives

==> picture [239 x 129] intentionally omitted <==

Expanded Pick up with 377 new Direct to boot enabled stores and trial of first temperature controlled self-service locker

==> picture [236 x 118] intentionally omitted <==

Launched first eStore at Carrum Downs (VIC) in partnership with Takeoff, and two new dedicated eCommerce fulfilment centres (Lidcombe, NSW and Notting Hill, VIC)

==> picture [239 x 134] intentionally omitted <==

Cartology screens deployed in 985 stores across Woolworths Supermarkets

==> picture [236 x 135] intentionally omitted <==

Launched Metro Park Sydney flagship store, offering local, premium neighbourhood shopping experience as well as Smart Store 3.0 in Loganholme, QLD with 50+ technology solutions being tested

COMPANY RESULTS 30 HALF-YEAR 2021

WooliesX highlights

==> picture [93 x 34] intentionally omitted <==

Digital & Media

Front door to Woolies

eCom & Fulfilment

Easy shopping when & where you want it

Loyalty & FinTech Seamless experiences to enjoy a little more, every day

12.4m

==> picture [105 x 55] intentionally omitted <==

+69.8% vs Q2’20

Weekly visits across web & app in Q2’21

==> picture [55 x 73] intentionally omitted <==

Woolworths app enhancements; aisle navigation, smarter lists, and Scan & Go integration >3.4m total downloads

==> picture [59 x 79] intentionally omitted <==

Everyday Rewards app with push notifications and real-time e-receipts >3.9m total downloads

Launched more inspiration and ideas

• Fresh Ideas for You

==> picture [120 x 30] intentionally omitted <==

• Healthier Options

• Christmas Hub

==> picture [210 x 61] intentionally omitted <==

Expanded convenience offering

==> picture [42 x 40] intentionally omitted <==

• 209 Delivery Now stores (102 new in H1)

• 429 Same Day Delivery stores with 1-hr delivery window

• 627 Direct to boot (377 new in H1)

eCom sales H1 Penetration

b $1.8

7.7%

+91.8% vs H20

Total eCom customers

Online VOC NPS

58

1.5m

(3) pts vs Q2’20 +74% vs H20

New platform launched to better serve childcare and healthcare clients

Delivery Unlimited Subscription

2.7x

==> picture [73 x 22] intentionally omitted <==

YOY growth in paid subscribers

==> picture [72 x 74] intentionally omitted <==

12.8m

+730,000 +6.0% vs Q2’20

Everyday Rewards members with improvement in scan rates across all banners

Scan & Go expanded

• 14 Supermarkets and 8 Metro Food Stores

==> picture [64 x 48] intentionally omitted <==

==> picture [50 x 36] intentionally omitted <==

==> picture [64 x 37] intentionally omitted <==

Strong member engagement with Rewards exclusive collectables and Bank for Christmas

Rebranded loyalty across all channels, banners and partners

==> picture [71 x 31] intentionally omitted <==

Sustainability-focused partnership with Origin Energy launched offering members $60-100+ in points per year

Launched earn points on Caltex StarCard

==> picture [720 x 15] intentionally omitted <==

COMPANY RESULTS HALF-YEAR 2021

Australian Food H2 F21 focus

31

==> picture [93 x 34] intentionally omitted <==

Accelerate Digital and eCom

==> picture [230 x 139] intentionally omitted <==

Tailor our Stores

==> picture [228 x 141] intentionally omitted <==

Fresh, Health and Sustainability

==> picture [236 x 146] intentionally omitted <==

==> picture [322 x 203] intentionally omitted <==

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

Evolve Simpler
----- End of picture text -----

==> picture [720 x 15] intentionally omitted <==

32

COMPANY RESULTS HALF-YEAR 2021

==> picture [720 x 90] intentionally omitted <==

New Zealand Food

COMPANY RESULTS HALF-YEAR 2021

33

==> picture [104 x 32] intentionally omitted <==

==> picture [64 x 18] intentionally omitted <==

==> picture [67 x 23] intentionally omitted <==

	NZD H21 H20 CHANGE Sales ($m) 3,717 3,564 4.3% EBITDA ($m) 333 316 5.3% EBIT ($m) 194 186 4.4% Gross margin (%) 25.0 24.7 31 bps CODB (%) 19.8 19.5 31 bps EBIT to sales (%) 5.2 5.2 - Sales per square metre ($) 17,863 16,704 6.9% ROFE (%) 8.9 8.1 79 bps

New Zealand Food highlights

COMPANY RESULTS 34 HALF-YEAR 2021

==> picture [104 x 32] intentionally omitted <==

==> picture [64 x 18] intentionally omitted <==

==> picture [67 x 23] intentionally omitted <==

H1 F21 highlights

Customer 1st Team 1st

VOC NPS: 50

(+3 vs Q2’20)

Store-controllable VOC: 83% (+2 vs Q2’20)

TEAM

COVID safety and wellbeing, Voice of Team, Voice of Supplier, Cared metrics

Innovative and Convenient

47.7% H1 eCom sales growth vs last year

eCom sales 11.6% penetration H1

3 eStores now open, Onecard rewards program relaunched, transactional mobile app

Great Prices and Good Acts

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

4,000 products on Great Price program

Launched 2025 commitments

==> picture [145 x 37] intentionally omitted <==

Strong Foundations

New Palmerston North Regional DC, North Island Fresh DC, Hilton meat plant under construction

10 H1 Renewals completed

Simpler For Stores productivity, stock loss, Availability VOC

H2 F21 focus

Customer 1st, Team 1st, Wellbeing & Safety

==> picture [138 x 94] intentionally omitted <==

Value For Money and Rewards

==> picture [138 x 96] intentionally omitted <==

Digital Experience and Online Growth

==> picture [116 x 96] intentionally omitted <==

End to End Process Excellence

==> picture [132 x 93] intentionally omitted <==

==> picture [720 x 13] intentionally omitted <==

New Zealand Food F21 priorities

COMPANY RESULTS HALF-YEAR 2021

35

==> picture [104 x 32] intentionally omitted <==

==> picture [64 x 18] intentionally omitted <==

==> picture [67 x 23] intentionally omitted <==

==> picture [720 x 453] intentionally omitted <==

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

Customer 1st Team 1st
Innovate to create a
great brand to work
Innovative, Convenient and Helpful Ways to Shop
for and shop
Differentiate our core
Prices I Trust, Good For Me - Good for My
customer proposition
Rewards I Value, with a Focus on Community and
Exclusive Range NZ Fresh, Health the Planet
& Wellness
Futureproof our E2E
Simpler End-to-End Processes and
operating model
Capabilities for the Future
----- End of picture text -----

COMPANY RESULTS 36 HALF-YEAR 2021

==> picture [720 x 90] intentionally omitted <==

COMPANY RESULTS HALF-YEAR 2021

37

BIG W

	H21 H20 CHANGE Sales ($m) 2,581 2,149 20.1% EBITDA ($m) 224 138 61.7% EBIT ($m) 133 50 165.7% Gross margin (%) 33.7 32.6 118 bps CODB (%) 28.6 30.2 (165) bps EBIT to sales (%) 5.1 2.3 282 bps Sales per square metre ($) 4,430 3,609 22.7% ROFE before significant items (%) 11.9 0.0 12.0 pts

COMPANY RESULTS HALF-YEAR 2021

38

BIG W highlights

Good progress against key priorities during H1 F21

Demonstrated real care in our communities with 2.4 million ‘free books for kids’ distributed, 1,000 filled backpacks donated for back to school, ‘community bear’ campaign launched and 360,000 items donated to local charities through Good360

==> picture [26 x 20] intentionally omitted <==

Continued simplification of our customer offer to align with shopping missions with a focus on essential items for home and family, range curation to make it easier to shop and inspiring special family moments/big days at home

==> picture [26 x 21] intentionally omitted <==

Embedded and scaled up our digital services with hub stores and contactless Drive up efficiency, Direct to boot launched across 75 locations and Same Day Delivery rolled out

==> picture [26 x 19] intentionally omitted <==

Putting our customers and team first by listening deeply and responding through VOC and VOT, caring for our teams through sustaining employment through the extended VIC lockdown, and continuing to connect with our partners resulting in 11 consecutive quarters of improving VOS

==> picture [26 x 19] intentionally omitted <==

Continued to invest in our team and store network with new BIG W X team co-located with WooliesX, 22 stores with new fixtures and layouts in apparel, baby and home categories

==> picture [26 x 20] intentionally omitted <==

Our H2 F21 priorities

Continue to simplify our business and establish our capabilities to be data-led

1

Remain competitive on price whilst amplifying real value for our customers

2

Provide curated ranges and distinctive solutions that meet customers’ everyday needs and inspire shopping missions across key destination areas

3

• Offer a connected, and digitally

• 4 enabled experience for our customers and teams

Continue to demonstrate real care for

• 5 our customers, teams and wider communities

==> picture [676 x 32] intentionally omitted <==

==> picture [720 x 15] intentionally omitted <==

BIG W F21 priorities

COMPANY RESULTS 39 HALF-YEAR 2021

==> picture [720 x 453] intentionally omitted <==

40

COMPANY RESULTS HALF-YEAR 2021

==> picture [720 x 90] intentionally omitted <==

Endeavour Drinks

COMPANY RESULTS 41 HALF-YEAR 2021

==> picture [97 x 27] intentionally omitted <==

	H21 H20 CHANGE Sales ($m) 5,683 4,775 19.0% EBITDA ($m) 564 465 21.6% EBIT ($m) 419 338 24.1% Gross margin (%) 24.0 23.2 76 bps CODB (%) 16.6 16.2 46 bps EBIT to sales (%) 7.4 7.1 30 bps Sales per square metre ($) 21,251 18,487 14.9% ROFE (%) 18.0 14.7 333 bps

COMPANY RESULTS HALF-YEAR 2021

42

Dan Murphy’s highlights

==> picture [97 x 27] intentionally omitted <==

H1 F21 highlights

==> picture [81 x 68] intentionally omitted <==

==> picture [86 x 28] intentionally omitted <==

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

5
----- End of picture text -----

==> picture [75 x 36] intentionally omitted <==

==> picture [133 x 72] intentionally omitted <==

==> picture [77 x 71] intentionally omitted <==

==> picture [139 x 85] intentionally omitted <==

Continued strong customer scores with more customers proactively offered service (VOC NPS 76, +3 v Q2’20)

Five new stores opened, including second new urban format store in Benowa

Strong innovation in Record eCom sales Pinnacle through products supported by a positive such as seltzers, led to customer response to record sales of Pinnacle Direct to boot and express products delivery services

My Dan's growing 26% vs Q2’20 reaching 5.1 million members, making it the biggest drinks-specific loyalty program in Australia

H2 F21 focus

==> picture [121 x 81] intentionally omitted <==

==> picture [106 x 81] intentionally omitted <==

==> picture [144 x 81] intentionally omitted <==

==> picture [133 x 83] intentionally omitted <==

==> picture [123 x 85] intentionally omitted <==

Further stores to open during H2 along with the trial of a new store renewal format

Continued focus on customer 1st ranging, focusing on local products

Ongoing development of Continued growth of wine digital platform to merchant network along with improve customer team member customer experience experience training

Enhance the personalised offering to My Dan's customers to discover more products tailored to their preferences

==> picture [720 x 15] intentionally omitted <==

43

BWS highlights

==> picture [95 x 37] intentionally omitted <==

COMPANY RESULTS HALF-YEAR 2021

H1 F21 highlights

==> picture [81 x 68] intentionally omitted <==

Achieved record brand NPS with VOC continuing strong at 71 (+2 vs Q2’20)

==> picture [104 x 104] intentionally omitted <==

==> picture [89 x 28] intentionally omitted <==

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

15
----- End of picture text -----

==> picture [76 x 36] intentionally omitted <==

Grew store network Supported local suppliers with 15 net new stores and expanded our range, and 27 renewals launching Local Luvvas completed in H1 campaign, and seltzers

==> picture [104 x 105] intentionally omitted <==

==> picture [77 x 71] intentionally omitted <==

Strong eCom sales and Team safety focus with high number of app 15% reduction in injuries downloads, supported by v H1 F20 and >50% innovative enhancements reduction in lost hours

H2 F21 focus

==> picture [104 x 105] intentionally omitted <==

==> picture [105 x 104] intentionally omitted <==

==> picture [104 x 105] intentionally omitted <==

==> picture [105 x 104] intentionally omitted <==

==> picture [104 x 105] intentionally omitted <==

Continue renewal Grow delivery program and rollout of awareness and contactless offerings continue to develop digital offering

Celebrate key events, build our curated range and grow customer advocacy

Provide our team with Deliver greater training and digital tools personalised value to to enhance the customer Everyday Rewards service experience members

==> picture [720 x 15] intentionally omitted <==

Endeavour Drinks F21 priorities

COMPANY RESULTS HALF-YEAR 2021

44

==> picture [97 x 27] intentionally omitted <==

Innovate our customer and team experience

Customer 1[st] Brand, Team and Culture Deliver increasingly effortless, personal and inspiring experiences

Differentiate our core customer offer

Regain trend leadership and offer the right range

Offer trusted value Deliver consistent, and prices engaging & responsible customer service

Redesign our E2E operating model

Build effective shared capabilities powered by end-to-end processes and data

To connect everyone with a drinks experience they’ll love

==> picture [119 x 33] intentionally omitted <==

==> picture [720 x 15] intentionally omitted <==

COMPANY RESULTS 45 HALF-YEAR 2021

==> picture [360 x 453] intentionally omitted <==

==> picture [720 x 90] intentionally omitted <==

COMPANY RESULTS HALF-YEAR 2021

46

Hotels

==> picture [91 x 51] intentionally omitted <==

	H21	H20	CHANGE
Sales ($m)	667	919	(27.5)%
EBITDA ($m)	244	342	(28.5)%
EBIT ($m)	122	224	(45.4)%
Gross margin (%)	84.8	83.7	112 bps
CODB (%)	66.4	59.2	717 bps
EBIT to sales (%)	18.4	24.4	(606) bps
ROFE (%)	1.7	9.0	(731) bps

• Continued impact from COVID operating restrictions on Hotels, with sales down 27.5% on prior year

• Improving sales and EBIT trends over the half as restrictions eased

• Return to profit in H1 with EBIT of $122 million compared to a loss of $52 million in H2 F20

• Priorities for H2 F21:

• Provide best COVIDSafe and responsible customer experience

• Continue to improve trading performance

==> picture [720 x 15] intentionally omitted <==

COMPANY RESULTS HALF-YEAR 2021

47

Operations have recommenced in all states and territories, however, some restrictions remain in place*

==> picture [85 x 47] intentionally omitted <==

==> picture [551 x 350] intentionally omitted <==

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

4 Hotels
F&B: OPEN
128 Hotels
EGMs: 100%
No patron cap F&B: OPEN
1.5m social EGMs: 100%
distancing
28 Hotels F&B: OPEN No patron cap
1 person /2 sqm
No patron cap
1 person /2 sqm
33 Hotels
54 Hotels
F&B: OPEN
EGMs: 66% F&B: OPEN
EGMs: 95%
No patron cap
1 person / 2 sqm No patron cap
1 person / 2 sqm
80 Hotels
F&B: OPEN
5 Hotels
EGMs: 100% F&B: OPEN
EGMs: 70%
No patron cap
1 person / 2 sqm
1 person /2 sqm
1 person / 4 sqm gaming
----- End of picture text -----

==> picture [720 x 15] intentionally omitted <==

*As at 22 February 2021

COMPANY RESULTS HALF-YEAR 2021

48

Well progressed for the Endeavour Group’s transformation

==> picture [720 x 97] intentionally omitted <==

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

Stage 1 Stage 2 Stage 3
Restructure ALH Merger Separation
----- End of picture text -----

			Stage 1 Restructure			Stage 2 ALH Merger			Stage 3 Separation
		•	Internal reorganisation of		•	Endeavour to acquire BMG’s		•	Separation of Endeavour
Activity			Woolworths Group to create a distinct legal entity, known as			interest in ALH in exchange for issuing BMG with a 14.6%			Group from Woolworths Group via demerger or other
			Endeavour Group			shareholding in Endeavour Group			value accretive alternative
	•		To simplify Woolworths Group’s corporate structure		•	To integrate the operations of the Woolworths’ drinks		•	To create simpler, more
Purpose	• •		To create a distinct legal entity To facilitate the ALH Merger and potential separation		•	business and ALH Group To facilitate potential separation			focused, independent businesses ready for future growth
Timing	• •		Shareholders approved on 16 December 2019 Implemented 2 February 2020		•	Completed 4 February 2020		•	Expected to be completed in June 2021
			Completed

COMPANY RESULTS HALF-YEAR 2021

49

Endeavour Group demerger update

==> picture [109 x 35] intentionally omitted <==

Intention to complete the separation of Endeavour Group by June 2021 via a demerger or valueaccretive alternative. A dedicated internal team and advisor group continues to progress transaction execution and operational separation

The separation will enable simplicity and growth in both groups with the benefits of partnership retained through ongoing service agreements

Peter Hearl appointed as Chairman-elect. Steve Donohue appointed as CEO-elect. These positions will take effect in the event of a separation

A separation would be subject to final Board approval, third party consents, regulatory and shareholder approvals

Further information will be provided on timing and process for the separation at the appropriate time

==> picture [720 x 15] intentionally omitted <==

Contents

H1 F21 Group Summary & Progress 4 Brad Banducci Group Financial Results & 10

Group Financial Results & Capital Management Stephen Harrison Business Performance Update

21

Outlook Brad Banducci

==> picture [374 x 492] intentionally omitted <==

==> picture [720 x 6] intentionally omitted <==

==> picture [107 x 33] intentionally omitted <==

50

COMPANY RESULTS 51 HALF-YEAR 2021

Current trading and outlook

Current trading – first seven weeks of H2 F21

Outlook

• Group sales for the first seven weeks of H2 F21 remained strong; however, growth rates have moderated relative to H1 in line with the market. COVID costs continued to moderate

• Australian Food total sales increased by ~8%

• Sales for all Group businesses (except Hotels) are expected to decline in March to June compared to the prior year as we cycle COVID sales surge

• H2 F21 COVID costs expected to be materially below the prior year, subject to no prolonged lockdowns

• New Zealand Food total sales growth remains subdued at ~1%

• BIG W (~18%) and Endeavour Drinks’ (~14%) total sales growth remains strong but slowed modestly relative to Q2 F21

• Hotels’ H2 F21 EBIT is expected to be well above H2 F20, assuming venues can continue to trade without further restrictions

• Continue to accelerate digital and eCom. As we cycle peak COVID-demand, opportunity to optimise eCom at scale to drive further efficiency

• Hotels total sales declined ~12% but with a lower rate of decline than Q2 F21

• H2 F21 focus on improving end-to-end process efficiency (including COVID costs)

==> picture [720 x 6] intentionally omitted <==

COMPANY RESULTS 52 HALF-YEAR 2021

H2 F21 sales growth expected to be impacted by cycling material COVID-driven sales uplift in H2 F20

==> picture [305 x 204] intentionally omitted <==

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

Australian Food
H2 F20 sales growth
Q3’20: 11.3% Q4’20: 9.3%
40
20
0
February March April May June
YoY growth % Total sales growth %
----- End of picture text -----

==> picture [305 x 203] intentionally omitted <==

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

BIG W
H2 F20 sales growth
Q3’20: 9.5% Q4’20: 30.8%
40
20
0
February March April May June
YoY growth % Total sales growth %
----- End of picture text -----

==> picture [305 x 419] intentionally omitted <==

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

New Zealand Food
H2 F20 sales growth (NZD)
Q3’20: 13.7% Q4’20: 13.9%
40
20
0
February March April May June
YoY growth % Total sales growth %
Endeavour Drinks
H2 F20 sales growth
Q3’20: 9.5% Q4’20: 23.2%
40
20
0
February March April May June
YoY growth % Total sales growth %
----- End of picture text -----

==> picture [720 x 6] intentionally omitted <==

COMPANY RESULTS 53 HALF-YEAR 2021

Thank you

==> picture [186 x 34] intentionally omitted <==

==> picture [720 x 6] intentionally omitted <==

Glossary

COMPANY RESULTS HALF-YEAR 2021

54

ACCC

Cash realisation ratio

Australian Competition and Consumer Commission

Operating cash flow as a percentage of Group net profit after tax before depreciation and amortisation

Comparable sales

Measure of sales excluding stores that have been opened or closed in the last 12 months and existing stores where there has been a demonstrable impact from store disruption because of store refurbishment or new store openings/closures

Cost of doing business (CODB) Expenses relating to the operation of the business Customer fulfilment centre (CFC) Dedicated online distribution centre

DC

Distribution centre

Direct to boot

Where a customer places an order online and drives to a dedicated area where a team member places the order directly in the customer’s boot

eStore

Dedicated store for the fulfilment of online orders sometimes incorporating automation

Cash flow generated by Woolworths Group after equity related financing activities including dividends Free cash flow and repayment of lease liabilities Funds employed Net assets employed, excluding net tax balances MFC Micro-fulfilment centre MSRDC Melbourne South Regional Distribution Centre NDC National Distribution Centre Net assets employed Net assets excluding net debt and other financial assets and liabilities A loyalty measure based on a single question where a customer rates a business on a scale of zero to Net Promoter Score (NPS) 10. The score is the net result of the percentage of customers providing a score of nine or 10 (promoters) less the percentage of customers providing a score of zero to six (detractors) n.m. Not meaningful

==> picture [720 x 6] intentionally omitted <==

COMPANY RESULTS HALF-YEAR 2021

55

Glossary (cont.)

On-demand/express delivery An express or scheduled delivery service providing online orders at the customer's convenience

Pick up A service which enables collection of online shopping orders in store or at selected locations

RDC Regional Distribution Centre A total store transformation focused on the overall store environment, team, range and process efficiency Renewal (including digital) Return on Funds Employed Calculated as EBIT before significant items for the previous 12 months as a percentage of average (opening, mid (ROFE) and closing) funds employed including significant items provisions RTDs Ready-to-drink

Sales per square metre Total sales for the previous 12 months by business divided by average trading area Simpler for Stores Simplification of end-to-end processes for store teams, improving customer experience and productivity Smart Store A store that employs technology to improve process efficiency for customers and team members Total net debt Borrowings less cash balances including debt hedging derivatives and lease liabilities

TRIFR Total Recordable Injury Frequency Rate

The value of stock written off, wasted, stolen, cleared, marked down or adjusted from all stores nationally Stock loss (sometimes expressed as a percentage of sales)

Externally facilitated survey of a sample of Woolworths Group customers where customers rate Woolworths Voice of Customer (VOC) Group businesses on several criteria. Expressed as the percentage of customers providing a rating of six or seven on a seven-point scale

VOC NPS is based on feedback from Everyday Rewards members. VOC NPS is the number of promoters (score of VOC NPS nine or 10) less the number of detractors (score of six or below)

Voice of Supplier (VOS)

A survey of a broad spectrum of suppliers facilitated by an external provider. The survey is used to provide an ongoing measure of the effectiveness of business relationships with the supplier community. VOS is the average of the suppliers’ rating across various attributes, scored as a percentage of suppliers that provided a rating of six or seven on a seven-point scale

Survey measuring sustainable engagement of our team members as well as their advocacy of Woolworths as a Voice of Team (VOT) place to work and shop. The survey consists of nine sustainable engagement questions, three key driver questions and two advocacy questions

==> picture [720 x 6] intentionally omitted <==

COMPANY RESULTS HALF-YEAR 2021

56

Glossary (cont.)

Other non-IFRS measures used in describing the business performanceinclude:

• Earnings before interest, tax, depreciation and amortisation (EBITDA)

• Cash flow from operating activities before interest and tax

• Significant items

• Fixed assets and investments

• Net investment in inventory

• Free cash flow after equity related financing activities excluding dividends

• Net assets held for sale

• Net tax balances

• Closing inventory days

• Closing trade payable days

• Average inventory days

• Change in average prices

• Trading area

• Margins including gross profit, CODB and EBIT

• Volume productivity metrics including transaction growth, items per basket and item growth

==> picture [720 x 6] intentionally omitted <==

COMPANY RESULTS HALF-YEAR 2021

57

Disclaimer

This presentation contains summary information about Woolworths Group Limited (Woolworths Group) and its activities current as at the date of this presentation. It is sourced from and should be read in conjunction with Woolworths’ other periodic and continuous disclosure announcements filed with the Australian Securities Exchange, available at www.asx.com.au. Information about Woolworths Group's financial performance is current as at the last announcement provided to the Australian Securities Exchange.

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

This presentation contains certain non-IFRS measures that Woolworths Group believes are relevant and appropriate to understanding its business. Refer to the Half-Year Results and Dividend Announcement for further details.

This presentation is for information purposes only and is not a prospectus or product disclosure statement, financial product or investment advice or a recommendation to acquire Woolworths Group shares or other securities. It has been prepared without taking into account the objectives, financial situation or needs of individuals. Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and seek legal and taxation advice appropriate to their jurisdiction. Past performance is no guarantee of future performance.

No representation or 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 Woolworths 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.

This presentation may contain forward-looking statements including statements regarding our intent, belief or current expectations with respect to Woolworths Group’s business and operations, market conditions, results of operations and financial condition, specific provisions and risk management practices. When used in this presentation, the words ‘plan’, ‘will’, ‘anticipate’, ‘expect’, ‘may’, ‘should’ and similar expressions, as they relate to Woolworths Group and its management, are intended to identify forward-looking statements.

Forward looking statements involve known and unknown risks, uncertainties and assumptions and other important factors that could cause the actual results, performances or achievements of Woolworths Group to be materially different from future results, performances or achievements expressed or implied by such statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date thereof.

==> picture [720 x 6] intentionally omitted <==