Scales Corp. Ltd. · NZX:SCL
Scales — Shareholder Meeting (April 2026)
36 slides from Scales's shareholder meeting presentation, Apr 14, 2026
Slide 1: Bringing Nutrition to the World
Scales Corporation Limited Bringing Nutrition to the World 2026 Annual Shareholders’ Meeting 14 April 2026
Slide 2: Agenda
Agenda 01. Welcome and Chair’s Review 02. Managing Director’s Review Review of 2025 M&A Summary and Outlook 03. Ordinary Resolutions 04. Voting and Questions DazzleTM apples in Clive orchard 2 Scales Corporation Limited – 2026 ASM
Slide 3: How to Participate in Virtual / Hybrid Meetings and ask a Question
How to Participate in Virtual / Hybrid Meetings and ask a Question Shareholder & Proxyholder Q&A Participation Online Questions If you have a question to submit during the live meeting, please select the Q&A tab on the right half of your screen at anytime Type your question into the field and press
Slide 4: How to Participate in Virtual / Hybrid Meetings and Vote
How to Participate in Virtual / Hybrid Meetings and Vote Shareholder & Proxyholder Voting Shareholder & Proxyholder Voting Once the voting has been opened, the resolutions and voting options will allow voting To vote, simply click on the Vote tab and select your voting direction from the options sho
Slide 5: Welcome and Chair's Review
01. Welcome and Chair’s Mr Apple exhibition, Vietnam Review
Slide 6: Welcome and Chair's Review
Welcome and Chair’s Review Delighted to welcome all shareholders and stakeholders to the meeting, both in person and online Record Group result: Strong performance across all divisions Includes positive impact from increased shareholdings in joint venture businesses Underlying1 EBITDA growth across
Slide 7: Welcome and Chair's Review (cont.)
Welcome and Chair’s Review (cont.) Delighted to increase our investments in Global Proteins’ joint venture businesses, further progressing our growth strategy: Shelby investment increased from 60% to 67.5% Meateor Australia investment increased from 50% to 100% Fayman International investment increa
Slide 8: Governance
Governance Refreshing our Director and Senior Management Team Would like to recognise the significant contribution and support of Alan Isaac who retired in October 2025: Alan served on the Board for over 11 years, appointed just prior to Scales’ listing Brought broad and deep accounting and financia
Slide 9: Our People and Teams
Our People and Teams Health, safety and wellbeing remained a core focus with continued integration into our businesses during FY25: 637 Independent health and safety assessments completed across key businesses Permanent staff members Strong emphasis placed on leadership engagement and training 49 ye
Slide 10: Managing Director's Review
02. Managing Director’s Profruit’s processing facility Review
Slide 11: Review of 2025
Scales Logistics’ Auckland warehouse and chiller facility Review of 2025 Shelby’s new in-plant collection and cooling system
Slide 12: By the Numbers
By the Numbers $899.9m $137.6m $84.1m 15.0 cents revenue Underlying EBITDA net debt dividends per share paid (2024: $584.6m) (2024 (Restated): $91.7m) (2024: $12.5m net cash) (2024: 8.5 cents) 165,760 MT 31,468 3,681,000 14.6% petfood ingredients sold1 TEU2 equivalents managed TCEs of own-grown ROCE
Slide 13: Trends in Group Financial Performance
Trends in Group Financial Performance Underlying NPAT Underlying EBITDA Revenue Attributable to Shareholders 13 Scales Corporation Limited – 2026 ASM
Slide 14: Group Financial Performance
Group Financial Performance Group growth strategies are delivering exceptional results NPAT Attributable to Shareholders NPAT EBITDA Revenue 2024 2024 2024 $m 2025 % chg. 1 2025 % chg. 1 2025 % chg. 1 2025 2024 % chg. 1 (Restated) (Restated) (Restated) Underlying (excluding NZ IFRS 16) 63.5 34.6 84%
Slide 15: Trends in Divisional Underlying EBITDA Performance
Trends in Divisional Underlying EBITDA Performance Global Proteins Horticulture Logistics 15 Scales Corporation Limited – 2026 ASM
Slide 16: Global Proteins – Performance
Global Proteins – Performance Delivering earnings and volume growth Volumes Sold (MT 000s) Increases in both petfood ingredients and edible proteins sales volumes of 9% and 10% respectively Realised benefits of increased investments in joint venture businesses: Shelby had a solid performance, whilst
Slide 17: Horticulture – Performance
Horticulture – Performance Long-term strategy bearing fruit Increased apple export volumes and average prices, enhanced by the FY24 Bostock acquisition Grower returns positively impacted by an increased proportion of Premium variety volumes such as DazzleTM and PosyTM Our strategically important Asi
Slide 18: Horticulture – Forecast Volumes
Horticulture – Forecast Volumes Continued focus on Premium varieties Currently projected that Premium varieties will account for ~80% of export volumes by 2027 as a result of: The integration of the Bostock orchards Mr Apple’s ongoing orchard redevelopment programme Development of new Premium apple
Slide 19: Logistics – Performance
Logistics – Performance Record Logistics result Significant increase in volumes: Ocean freight up 5%, airfreight up 81% Continued growth in the dairy sector Benefited from good growing seasons for both apples and cherries 19 Scales Corporation Limited – 2026 ASM
Slide 20: Financial Position
Financial Position Overall financial position and net debt reflects investments made during FY25 in Global Proteins’ joint venture businesses Financial position allows for further investment opportunities Summary Financial Position ($m) Net Cash / (Debt) Reconciliation ($m) 2024 $m 2025 (Restated) N
Slide 21: Sustainability Update
Sustainability Update Materiality Completed a refreshed double materiality assessment (second since 2020) recognising the evolution of our business and the importance of understanding stakeholder priorities Environment Voluntarily completed our third Climate Statement, which will be published this m
Slide 22: M&A Summary and Outlook
M&A Summary and Outlook -—— - _
Slide 23: FY25 M&A Summary
FY25 M&A Summary Global Proteins – increasing joint venture ownership April 2025 Increased investment in Shelby from 60% to 67.5% Inside the Meateor Australia processing plant Investment cost of USD24.4m September 2025 Increased investment in: Meateor Australia from 50% to 100% Fayman International
Slide 24: FY26 Outlook
FY26 Outlook Group Global Proteins Directors re-confirm the previously advised Guidance range of The division is expected to perform strongly and continue to realise the Underlying Net Profit after Tax Attributable to Shareholders of benefits of its increased investments between $50.0 million and $5
Slide 25: Ordinary Resolutions
03. Ordinary Inside Shelby’s Cherokee processing facility Resolutions
Slide 26: Resolution 1
Resolution 1 That the Board is authorised to fix the auditor’s remuneration for the coming year 26 Scales Corporation Limited – 2026 ASM
Slide 27: Resolution 2
Resolution 2 Having been appointed during the year by the Board and holding office only until the Annual Meeting, Paul Munro be elected as a Director of Scales Paul’s current external roles include: Director of Blis Technologies Limited Director of New Zealand King Salmon Investments Limited and var
Slide 28: Resolution 3
Resolution 3 That Miranda Burton, who retires and is eligible for election, be re-elected as a Director of Scales Miranda’s current external roles include: Executive Chair of Cyprus Enterprises Limited Director of Food Nation Limited Chair of Meadow Mushrooms Limited 28 Scales Corporation Limited –
Slide 29: Resolution 4
Resolution 4 That Nick Harris, who retires and is eligible for election, be re-elected as a Director of Scales Nick’s current external roles include: Managing Director of Glenturret Farm Limited Managing Director of Harris Farms Limited Shareholder and Director of a number of other private companies
Slide 30: Resolution 5
Resolution 5 That Mike Petersen, who retires and is eligible for election, be re-elected as a Director of Scales Mike’s current external roles include: Director of ANZCO Foods Limited Director of Kelso Genetics Limited Chair of the Tukituki Water Security Project Advisory roles with a number of othe
Slide 31: Resolution 6
Resolution 6 That the total annual remuneration available to be paid to Directors for their services as Directors be increased by $130,000 (being the equivalent of AUD110,000, which reflects the increase needed to include fees paid to the Directors of Scales’ new Australian subsidiaries within the t
Slide 32: Voting and Questions
04. Voting and Scales Logistics’ Auckland warehouse and chiller facility Questions
Slide 33: How to Participate in Virtual / Hybrid Meetings and Vote
How to Participate in Virtual / Hybrid Meetings and Vote Shareholder & Proxyholder Voting Shareholder & Proxyholder Voting Once the voting has been opened, the resolutions and voting options will allow voting To vote, simply click on the Vote tab and select your voting direction from the options sho
Slide 34: How to Participate in Virtual / Hybrid Meetings and ask a Question
How to Participate in Virtual / Hybrid Meetings and ask a Question Shareholder & Proxyholder Q&A Participation Online Questions If you have a question to submit during the live meeting, please select the Q&A tab on the right half of your screen at anytime Type your question into the field and press
Slide 35: Scales Corporation Limited 2026 Annual Shareholders' Meeting
Scales Corporation Limited 2026 Annual Shareholders’ Meeting
Slide 36: Disclaimer
Disclaimer The information in this presentation has been prepared by Scales Corporation Limited with due care and attention. However, neither Scales Corporation Limited nor any of its directors, employees, shareholders nor any other person shall have any liability whatsoever to any person for any lo