A2 Milk Company Limited · NZX:ATM

A2 Milk — The a2 Milk Company — H1 FY2019 Earnings Presentation

17 slides from A2 Milk's earnings presentation, Feb 20, 2019

  1. Slide 1: Half year interim results FY19

    Half year interim results FY19 Jayne Hrdlicka| Managing Director & CEO] 20 February 2019 Siw ' © 22 Migs, a2/Platinum™ and The a2 Milk Company™ are trad =! of Thess

  2. Slide 2: For personal use only

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  3. Slide 3: Key financial charts - continuing strong momentum

    Key financial charts’ - continuing strong momentum Group revenue (NZ$ million) 922.7 FY16 FYI7 FY18 1H19 @©H1 wH2 Group EBITDA? (NZ$ million) 283.0 FY17 FY18 ©H1 BH2 Basic Earnings Per Share (cents) 27.0 20.9 12.7 FY16 FYI7 FY18 1H19 @Full Year mHalf Year 1 The Company’s financial year ends 30 June;

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  5. Slide 5: Cash position - strong balance sheet

    Cash position - strong balance sheet Group cash movement: 1H19 (NZ$ million) 340.5 (47.3) (2.4) 46.9 40.1 287.9 (162.3) Cash on hand Group NPAT — Working capital Investments in Investment in Depreciation, FX and other Cash on hand (Jun-18) PPE & intangibles Synlait amortisation & (Dec-18) other non-

  6. Slide 6: Geographic and product segment performance

    Geographic and product segment performance Geographic segment revenue & EBITDA Product segment revenue an Australia & China & Total Liquid Infant NZ§ million New Zealand _ other Asia UK & USA Corporate Group milk nutrition Other Revenue 418.4 171.7 23.0 = 613.1 83.4 495.5 34.2 1H19 EBITDA’ 192.0 68.

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  10. Slide 10: FY19 outlook

    FY19 outlook’ + In the first half the Company has invested strongly in both internal and external capability to better understand our Chinese consumers, channel dynamics and ways of improving brand awareness + Following a very strong first half performance, and encouraged by growing market share in

  11. Slide 11: For personal use only

    thea2milkcompany.com

  12. Slide 12: For personal use only

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  13. Slide 13: Reconciliation of non-GAAP measures

    Reconciliation of non-GAAP measures NZ$ million 1H19 1H18 Australia & New Zealand segment EBITDA 192.0 116.4 China & other Asia segment EBITDA 68.4 48.3 UK & USA segment EBITDA! (14.6) (8.4) Corporate EBITDA (27.4) (13.4) EBITDA' 218.4 143.0 Depreciation/amortisation (1.0) (1.1) EBIT! 217.4 141.9 Ne

  14. Slide 14: Geographic and product segment performance

    Geographic and product segment performance NZ$ millon New Zealand __other Asia USA Group Liquid milk 67.1 11 15.2 83.4 Infant nutrition 321.6 166.1 7.8 495.5 mo Other 29.7 45 - 34.2 TOTAL 418.4 171.7 23.0 613.1 Liquid milk 61.1 0.8 7.5 69.4 Infant nutrition 221.5 111.0 8.5 341.0 mis Other 21.7 2.6 -

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  16. Slide 16: Disclaimer

    Disclaimer This presentation dated 20 February 2019 provides additional comment on the Interim Report for the six months ended 31 December 2018 of The a2 Milk Company Limited (the “Company” or “a2MC") and accompanying information released to the market on the same date. As such, it should be read in

  17. Slide 17: For personal use only

    thea2milkcompany.com

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