Inghams Group Ltd. · ASX:ING
Inghams — Investor Presentation (August 2026)
35 slides from Inghams's investor presentation, Aug 21, 2026
Slide 1: FY26 Financial Results
FY26 FINANCIAL RESULTS 21 AUGUST 2026
Slide 2: Disclaimer
Disclaimer IMPORTANT NOTICE The material in this presentation is general this presentation to reflect the underlying background information about the activities of performance Inghams Group Limited (Inghams) and its of the business. Definitions are included in the subsidiaries (Inghams Group), and i
Slide 3: FY26 results webcast details
FY26 results webcast details This presentation accompanies the live webcast, to be hosted by Ed Alexander (CEO & MD) and Andrew Just (Acting CFO), scheduled for 10.00am AEST on 21 August 2026. To register and join the webcast, please use the following link: ➢ https://meetings.lumiconnect.com/300-423
Slide 4: Acknowledgement of Country
Acknowledgement of Country We respectfully acknowledge the traditional owners both past and present, as custodians of this land we are meeting on today. Artist: Tevita Fonua 4
Slide 5: FY26 delivered in line with guidance, with significant progress strengthening the underlying business
FY26 delivered in line with guidance, with significant progress strengthening the underlying business X X X X Core poultry volume Underlying EBITDA Underlying NPAT Net Debt growth pre AASB 16 pre AASB16 +1.9% $186.4M $56.6M $403.3M on FY25 -21.2% on FY25 -40.5% on FY25 -6.3% on FY25 DIVIDENDS PER SH
Slide 6: Stabilised operating platform with return to volume growth
Stabilised operating platform with return to volume growth EARNINGS IMPACTED BY SIGNIFICANT COST PRESSURE WHILE ACTIONS TAKEN STRENGTHENED THE UNDERLYING BUSINESS ➢ Returned to volume growth and diversified customer base • Core poultry volumes +1.9% and revenue +2.4%, with growth across both markets
Slide 7: National footprint provides greater resilience against H5N1 Avian Influenza and other biosecurity disruptions
National footprint provides greater resilience against H5N1 Avian Influenza and other biosecurity disruptions Geographically diversified network Operations across multiple regions reduces reliance on any single production area Greater resilience to biosecurity events Regional separation provides fle
Slide 8: Horizon | Early progress against our strategy
Horizon | Early progress against our strategy BUILDING A STRONGER BUSINESS BY MAXIMIZING THE VALUE OF EVERY BIRD STABILISE OPTIMISE GROW Delivering value Building the next phase of A stronger operating platform creation growth ✓ Returned the group to volume growth ✓ Yield improvement delivering valu
Slide 9: FY26 Underlying EBITDA pre AASB 16 bridge
FY26 Underlying EBITDA pre AASB 16 bridge MATERIAL DRIVERS IDENTIFIED, REFLECTING COMMERCIAL MOMENTUM, COST DISCIPLINE AND EXTERNAL PRESSURES; ACTIONS TAKEN TO ADDRESS EXECUTION AND STABILISE BUSINESS PERFORMANCE Reduced excess Significant progress during inventory from FY25 and 2H26 reflected in lo
Slide 10: Returned to volume growth while diversifying customer portfolio
Returned to volume growth while diversifying customer portfolio CORE POULTRY VOLUME (KT) Group volume performance 461.2 470.1 FY25 FY26 ▪ Group core poultry volumes increased 1.9% versus PCP, reflecting broad-based growth 388.0 395.8 Group channel performance across Australia (+2.0%) and New Zealand
Slide 11: Growth underpinned by pricing discipline while Wholesale pricing softer in late FY26
Growth underpinned by pricing discipline while Wholesale pricing softer in late FY26 GROUP CORE POULTRY NET SELLING PRICES ($/KG) Group core poultry net selling prices increased 1.4% to $6.40/kg $6.43 $6.34 $6.37 ▪ Australian net selling prices increased 2.4%, while New Zealand pricing $6.28 increas
Slide 12: Financial results
Financial results Andrew Just Acting Chief Financial Officer 12
Slide 13: Volume, pricing and cost-out partially offset significant cost pressures
Volume, pricing and cost-out partially offset significant cost pressures ▪ Revenue growth of +2.4% versus PCP driven by: ‒ Higher core poultry revenue (+3.3%) driven by volume growth across both markets, and higher Net Selling Prices in Australia As-Reported ($M)1 FY26 FY25 Variance % ‒ A reduction
Slide 14: Balance sheet strengthened through working capital discipline
Balance sheet strengthened through working capital discipline ($M) Jun-26 Jun-25 Variance Inventories/Biologicals declined $3.7M with improved inventory mix Inventories/Biologicals 415.1 418.8 (3.7) ▪ A reduction in AU processed poultry inventory ($32.4M), driven by inventory 253.6 287.6 (34.0) Rece
Slide 15: Working capital actions supported strong cash conversion
Working capital actions supported strong cash conversion ($M) FY26 FY25 Variance Cash flows from operating activities Receipts from customers 3,343.7 3,223.6 120.1 ▪ Cash Flow from Operations was $313.7M, slightly lower than PCP due to Payments to suppliers & employees (2,998.2) (2,854.2) (144.0) hi
Slide 16: Capital expenditure
Capital expenditure CAPITAL EXPENDITURE IN LINE WITH EXPECTATIONS, FOCUSED ON GROWTH AND STRATEGIC INITIATIVES Sustaining: $28.9M | Protecting the existing asset base FY26 CAPITAL EXPENDITURE: $77.4M • 44% of pre AASB 16 depreciation ($65.6M) Optimising: $6.8M | Improving productivity and returns Su
Slide 17: FY26 feed benefit expected to reverse as input costs increase in FY27
FY26 feed benefit expected to reverse as input costs increase in FY27 LONG TERM WHEAT & SOY EXTERNAL MARKET PRICING1 ($A PER METRIC TONNE) 800 Internal feed cost mostly contains cereal grains, 1 protein meals, vitamins and minerals 700 Wheat ($A) CME Soy ($A) 600 Inghams’ feed cost includes transpor
Slide 18: Australia - volume and revenue growth more than offset by inflation and operating cost pressures
Australia - volume and revenue growth more than offset by inflation and operating cost pressures ▪ Core Poultry volume growth of 2.0% versus PCP As-Reported ($M)1 FY26 FY25 Variance % – Strong growth in QSR (+4.7%) and Food Service (+10.3%), while Core Poultry volume (kt) 395.8 388.0 7.8 2.0 Wholesa
Slide 19: New Zealand - solid underlying performance partially offset by unfavourable currency movement
New Zealand*- solid underlying performance partially offset by unfavourable currency movement NZD ▪ Core Poultry volumes grew 1.5% versus PCP due to growth in Wholesale As-Reported ($M)1 FY26 FY25 Variance % FY26 FY25 % and Export channel volumes Core Poultry volume (kt) 74.3 73.2 1.1 1.5 ▪ External
Slide 20: Operations, growth and FY27 outlook
Operations, growth and FY27 outlook Ed Alexander CEO & Managing Director 20
Slide 21: Horizon roadmap | Progressing from stabilisation to optimisation
Horizon roadmap | Progressing from stabilisation to optimisation HORIZON ROADMAP1 Disciplined execution of our Unlock upside through plan drives higher earnings, value-creating opportunities better returns and long-term • Grow premium propositions shareholder value. • Expand Bostock Brothers Grow th
Slide 22: Targeted investments to improve productivity, capability and returns
Targeted investments to improve productivity, capability and returns 1 2 3 OSBORNE PARK ONE NEW FULLY COOKED AUTOMATED TRAY TOUCH CAPABILITY PACKING Installation of automated cut-up lines Lisarow Further Processing line upgrade Six automated packing lines in SA and QLD Inghams Group Limited | FY26 F
Slide 23: Advanced ingredients facility – converting lower-value ingredients into higher-value earnings
Advanced ingredients facility – converting lower-value ingredients into higher-value earnings Investment return ~$5M incremental EBITDA on $8.5M investment ▪ New facility forms part of the broader Somerville (VIC) primary processing plant ▪ Strategic partnership with pet food manufacturer ▪ Investme
Slide 24: Building higher value growth platforms where we have a right to win
Building higher value growth platforms where we have a right to win PREMIUMISATION NEW VALUE POOLS PLATFORM EXPANSION Waitoa Bone Broth Just Meat Protein Bostock Brothers Australia EXTENDING TRUSTED BRANDS CREATING NEW APPLICATIONS EXTENDING PREMIUM ORGANIC INTO HIGHER-VALUE ADJACENCIES FOR POULTRY
Slide 25: FY27 outlook reflects significant headwinds while execution of our strategy remains focused
FY27 outlook reflects significant headwinds while execution of our strategy remains focused In FY27, moving to Underlying EBIT (post AASB 16) as our key financial performance metric (previously Underlying EBITDA pre AASB 16). Reconciliations will continue to be provided in the appendices. FY27 guida
Slide 26: Appendices
Appendices Inghams Group Limited | FY26 Financial Results Presentation 26
Slide 27: Inghams long-term opportunity
Inghams long-term opportunity A CLEAR PATHWAY TO STRONGER RETURNS FOCUS ON STRONG VALUE FOUNDATION Value per bird and return on National network, leading market capital drive growth – not volume positions and deep customer alone relationships CLEAR RIGHT OPERATIONAL TO WIN IMPROVEMENT FIRST Scale, s
Slide 28: Net debt & leverage
Net debt & leverage NET DEBT REDUCED IN LINE WITH STRATEGY; LEVERAGE ABOVE POLICY RANGE AT YEAR-END DUE TO LOWER FY26 EARNINGS Group Net Debt and Leverage Debt maturity profile ($M) (Underlying; pre AASB 16) 600 2.2x 2.5 2.0x 500 1.7x 1.8x 1.8x 2.0 1.5x 400 1.3x 1.4x 1.2x 1.5 300 200 0.7x 1.0 0.5 10
Slide 29: AASB 16 lease impact
AASB 16 lease impact Balance Sheet: Balance Sheet $M FY26 AU NZ FY25 ▪ Land and Buildings: Inghams has a large leased property portfolio. Land & Buildings 705.0 593.9 111.1 738.2 Average term remaining on the portfolio is 10.5 years Growers 19.2 14.9 4.3 52.1 Equipment 12.7 4.0 8.7 18.7 ▪ Contract G
Slide 30: AASB 16 profile
AASB 16 profile Right-of-use Assets $M Grower Lease Liability $M Grower L&B/Other L&B/Other 501 602 516 487 476 445 462 446 259 59 21 240 52 19 828 972 859 858 830 792 945 928 923 888 855 825 757 718 FY20A FY21A FY22A FY23A FY24A FY25A FY26A FY27F FY28F FY29F FY30F FY31F FY20A FY21A FY22A FY23A FY24
Slide 31: Profit & loss reconciliation
Profit & loss reconciliation Excluded from FY26 AASB 16 FY26 Underlying FY25 Underlying Profit & Loss $M FY26 underlying Underlying Leases (pre AASB 16) (pre AASB 16) Core Poultry volume (kt) 470.1 470.1 470.1 461.2 By-Products volume (kt) 134.1 134.1 134.1 118.8 Total Poultry volume (kt) 604.2 604.
Slide 32: Segment EBITDA reconciliation
Segment EBITDA reconciliation Group Australia New Zealand $M FY26 FY25 Var FY26 FY25 Var FY26 FY25 Var Core Poultry volume (kt) 470.1 461.2 8.9 395.8 388.0 7.8 74.3 73.2 1.1 Total Poultry volume (kt) 604.2 580.0 24.2 497.7 493.9 3.8 106.6 86.2 20.4 Core Poultry Revenue 3,008.7 2,911.1 97.6 2,571.1 2
Slide 33: NPAT reconciliation
NPAT reconciliation $M FY26 FY25 Var % NPAT 34.6 89.8 (55.2) (61.5) Significant items (net of tax): Business acquisition & integration - 0.8 (0.8) NM costs Legal settlement - 2.0 (2.0) NM Restructuring 6.2 4.6 1.6 NM Intercompany loan FX loss1 4.5 - 4.5 NM Tax on inter-entity transaction (FCTR) 2 (4
Slide 34: Return on Invested Capital (ROIC)
Return on Invested Capital (ROIC) ▪ ROIC defined as: $M FY26 FY25 - Underlying Net Operating Profit after Tax pre AASB 16 Return On Invested Capital (ROIC) divided by Average capital invested pre AASB 16 Underlying NPAT pre AASB 16 56.6 95.2 - Underlying interest pre AASB 16 (i.e. net interest on th
Slide 35: Definitions
Definitions NON-IFRS INFORMATION REFERRED TO IN THIS PRESENTATION AND ARE DEFINED BELOW Average Capital Invested: Net assets plus net debt plus tax balance plus net liabilities Underlying Gross Profit pre AASB 16: Underlying Gross Profit excluding AASB 16 of AASB 16; average calculated over two fina