A2 Milk Company Limited · NZX:ATM

A2 Milk — The a2 Milk Company — Shareholder Meeting (November 2018)

10 slides from A2 Milk's shareholder meeting presentation, Nov 20, 2018

  1. Slide 1: Annual Meeting 2018

    Annual Meeting 2018 Melbourne, Australia | 20 November 2018

  2. Slide 2: Strong growth track record

    Strong growth track record! Group revenue (NZ$ million) 922.7 549.5 352.8 155.1 FYIS FYI6 FYI7 FY18 +40% — +127% += +56% 468% @H1 wH2 Group EBITDA? (NZ$ million) 283.0 48 FY15 FY16 FY17 FY18 435% +1035% +159% +101% @H1 BH2 Basic Earnings Per Share (cents) 27.0 4.4 FY16 1 The Company‘s financial year

  3. Slide 3: Strong growth continues in first 4 months to October 2018

    Strong growth continues in first 4 months to October 2018 NZ$ million 4M 19! 4M18 chenge Revenue 368.4 262.2 +40.5% EBITDA 124.2 78.4 +58.5% PBT 124.9 78.0 +60.0% NPAT 86.0 52.3 +64.5% 'Unaudited management results, 4 months to October 2018 = 4M19 ?Kantar Infant Formula market tracking of Tier 1 and

  4. Slide 4: FY19 Outlook

    FY19 Outlook * Expect strong revenue growth to continue but at a slightly more moderate rate than in the first four months * Expect EBITDA to sales ratio broadly consistent with FY18 reflecting a higher gross margin percentage; offset by: — Increased marketing expenditure as a percentage of sales gi

  5. Slide 5: Macro consumer trends

    Macro consumer trends Growing consumer Food safety, naturalness Growing middle demand for health and and provenance class in Asia wellness products

  6. Slide 6: For personal use only

    For personal use only

  7. Slide 7: For personal use only

    For personal use only • • • • • • • • •

  8. Slide 8: Reconciliation of non-GAAP measures

    Reconciliation of non-GAAP measures NZ$ million FY18 FY17 Australia & New Zealand segment EBITDA 262.2 155.3 China & other Asia segment EBITDA 81.3 32.7 UK & USA segment EBITDA! (27.6) (22.5) Corporate EBITDA (32.8) (24.4) EBITDA? 283.0 141.2 Depreciation/amortisation (2.2) (2.7) EBIT? 280.9 138.5 N

  9. Slide 9: For personal use only

    thea2milkcompany.com

  10. Slide 10: Disclaimer

    Disclaimer This presentation dated 20 November 2018 provides additional comment on the Annual Report for the twelve months ended 30 June 2018 of The a2 Milk Company Limited (the “Company” or “a2MC") and accompanying information released to the market on 22 August 2018. As such, it should be read in

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