Wesfarmers Limited · ASX:WES
Wesfarmers — Investor Day (May 2025)
106 slides from Wesfarmers's investor day presentation, May 22, 2025
Slide 1: 2025 Strategy Briefing Day Presentation (ASX announcement)
22 May 2025 The Manager Market Announcements Office Australian Securities Exchange Dear Manager 2025 STRATEGY BRIEFING DAY PRESENTATION Following is a presentation that will be given today, Thursday 22 May 2025, at a Strategy Briefing Day in Sydney which is scheduled to commence at 6:30am AWST / 8:3
Slide 2: Wesfarmers 2025 Strategy Briefing Day Presentation
We Wesfarmers 2025 STRATEGY 2025 STRATEGY BRIEFING BRIEFING DAY PRESENTATION DAY PRESENTATION wTo mKo)h be ol=mat=) (0 on held eal22 May \V [- \Wa-A0 202540)
Slide 3: Agenda
Agenda Time (AEST) Topic Presenter Slide 8:00am – 8:30am Registration 8:30am – 8:55am Introduction and Group overview Rob Scott 3 8:55am – 9:25am Panel Q&A – Wesfarmers Rob Scott, Anthony Gianotti and Naomi Flutter 17 9:25am – 9:45am Break 1 9:45am – 10:00am Bunnings Group Michael Schneider 18 10:00
Slide 4: Introduction and Group Overview
INTRODUCTION AND INTRODUCTION AND GROUP OVERVIEW GROUP OVERVIEW ROB SCOTT Managing Director Wesfarmers Limited 4 Wesfarmers
Slide 5: Wesfarmers Way
Wesfarmers Way Wesfarmers’ primary objective is to Anticipating the needs of our Looking after our team deliver a satisfactory return to customers and delivering members and providing a safe, shareholders. competitive goods and services fulfilling work environment We believe it is only possible to a
Slide 6: Focus on long-term value creation
Focus on PEOPLE 1H25 long-term value creation, 9.9 total recordable injury consistent with frequency rate (TRIFR), compared to 10.9 in 1H24 our objective 3.9% Indigenous employment2, CLIMATE AND maintaining employment parity COMMUNITIES AND ENVIRONMENT SUPPLIERS 1H25 1H25 50% women in Board and 2.5%
Slide 7: Consistent focus on shareholder returns over time
Consistent focus on shareholder returns over time Wesfarmers’ TSR Index1 – November 1984 to April 2025 long-term total Wesfarmers and All Ordinaries Accumulation Index shareholder returns in excess of the broader market SINCE LISTING WES +19.4% pa Index +10.4% pa LAST 10 YEARS WES +15.0% pa Index +7
Slide 8: Wesfarmers Way focuses on delivery of the Group's objective
Wesfarmers Way focuses on delivery of the Group’s objective Wesfarmers’ objective is to provide a satisfactory return to shareholders Strengthen existing Secure growth Renew the portfolio Ensure sustainability Value-creating strategies businesses opportunities through value-adding through responsibl
Slide 9: Strong financial discipline and capital management
Strong financial discipline and capital management Opportunities to deploy and reallocate capital … … while maintaining a strong and flexible balance sheet Existing portfolio Significant headroom to key credit metrics Investing to improve customer value propositions and drive returns Investment grad
Slide 10: Portfolio has grown and strengthened over time
Portfolio has grown and strengthened over time 2015 2025 Return on equity: 9.8% Return on equity: 31.2% 5-year TSR: 11.5% (Index: 9.4%)1 5-year TSR: 20.6% (Index: 12.4%)1 Supporting data and digital assets and capabilities 3 2 New earnings streams, Note: graphics reflect relative divisional earnings
Slide 11: Consistent execution of value-creating strategies
Consistent execution of value-creating strategies Strengthened existing Secured growth Renewed the Ensured businesses opportunities portfolio sustainability • Improved value, service and • Expanded addressable markets • Demerged Coles and executed • Consistent focus on team member convenience for cu
Slide 12: Portfolio is well positioned to deliver returns through the cycle
Portfolio is well positioned to deliver returns through the cycle Retailers with strong value Strategic manufacturing Exposure to growing credentials and broad capabilities in critical demand via future customer appeal industries earnings streams Supporting a broad base of customers Globally competi
Slide 13: Pipeline of attractive, long-term growth opportunities
Pipeline of attractive, long-term growth opportunities Growing and expanding Driving space growth and WesCEF expansion Leveraging data and digital to addressable markets testing new store formats opportunities unlock omnichannel growth Bunnings evolving the range and offer Network renewal and expans
Slide 14: Pipeline of productivity and efficiency initiatives
Pipeline of productivity and efficiency initiatives Driving space productivity in Deploying data-driven demand Bunnings through new and forecasting tools to optimise expanded ranges, layouts and inventory and increase availability in formats, better localisation and Bunnings, Kmart Group and commerc
Slide 15: Investments in data and digital strengthened omnichannel businesses
Investments in data and digital have strengthened the Group’s omnichannel retail businesses In recent years, investments in data and digital have been made to: Improve the omnichannel Increase productivity and efficiency Uplift data and customer value proposition through technology and digitisation
Slide 16: Omnichannel assets and capabilities as competitive advantage
The Group’s omnichannel assets and capabilities now provide a source of competitive advantage, with significant growth upside Large scale, trusted Extensive physical Leading fulfilment Complementary loyalty Deep customer insights retail and health network and digital assets and and membership throug
Slide 17: Key messages
Key messages Portfolio of high-quality, Strong pipeline of Optionality to deploy resilient businesses attractive, long-term and reallocate capital, growth and efficiency supported by strong opportunities financial discipline Wesfarmers 2025 Strategy Briefing Day | 16
Slide 18: Panel Q&A
PANEL Q&A Wesfarmers ROB SCOTT ANTHONY GIANOTTI Managing Director, Chief Financial Officer, Wesfarmers Limited Wesfarmers Limited NAOMI FLUTTER Executive General Manager, Corporate Affairs, Wesfarmers Limited
Slide 19: Bunnings Group
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Slide 20: A track record of expanding our addressable market
A track A track record record of of expanding expanding our our addressable addressable market market BUNNINGS GROUP ———_ Home, Living, 2025 2025 BUNNINGS BUNNINGS ZapECS Resuwont Ties TK Bec, BUNNincs TRADE FRAME & TRUSS BUNNINGS hammer Marketplace M&CC. 1994 1994 BUNNINGS BUNININ GS Tra me... Pn W
Slide 21: Our addressable market is fragmented and highly competitive
Our addressable market is fragmented and highly competitive DÉCOR & HOME BUILDERS & TIMBER HARDWARE & FIXINGS GARDENING PLUMBING & BATHROOM FURNISHINGS OUTDOOR LIVING ELECTRICAL TOOLS KITCHEN PETS Wesfarmers 2025 Strategy Briefing Day | 20
Slide 22: Strong fundamentals underpin long-term growth
Strong fundamentals underpin long-term growth Population Housing availability, Housing alterations, Lifestyle and Innovation and growth churn and additions, repairs and demographic trends technology commencements maintenance Sustained population Structural housing Resilient and growing Ageing popula
Slide 23: The Bunnings model delivers value for all stakeholders
The Bunnings model delivers value for all stakeholders Customers Team members Suppliers Community Shareholders +5m c.54,000 +2,000 $61m 71.5% Transactions per week Team members Suppliers in community Return on capital support in FY24 in 1H25 (R12)1 Price, range, Focused on providing a safe, Long-ter
Slide 24: Our strategic pillars
Our strategic pillars Lowest Prices Widest Range Best Experience • Relentless focus on everyday • Expansive ranging for consumers • Connected and personalised lowest prices and commercial customers customer experience • Enabled by warehouse format, • Diverse offer underpins resilient • Expert advice
Slide 25: Enabled by the best team and connection to community
Enabled by the best team and connection to community Unique, empowered and high-performance culture Local, meaningful and sustainable • Safe and inclusive work environment • Supported over 79,000 local community activities in FY24 • Industry-leading benefits and development • Helped raise over $61 m
Slide 26: Our model drives long-term value creation
Our model drives long-term value creation 20 2,500 18 16 2,000 14 Revenue ($b) 12 1,500 EBT ($m) 10 8 1,000 6 4 500 2 0 0 FY94 FY99 FY04 FY09 FY14 FY19 FY24 Revenue EBT Wesfarmers 2025 Strategy Briefing Day | 25
Slide 27: Our strategic growth plan
Our strategic growth plan Bunnings has a significant opportunity to drive sustainable sales and earnings growth over the long term Expand and Grow and Drive Accelerate digital, Enhance innovate our offer optimise our retail commercial data and retail productivity through space growth media our entir
Slide 28: Continually expanding and innovating our offer
Continually expanding and innovating our offer Continuing to expand and innovate consumer and commercial ranges, with leading brands complemented by own brands Smart home Automotive Cleaning Rural Renewable energy EV charging Assisted living Pets Accelerated by embedded space planning capabilities W
Slide 29: Growing and optimising our retail space
Growing and optimising our retail space Track record of growing space and return on space Tangible space optimisation opportunity ahead Sales and space growth1 (FY15-24) Sales density2 ($/m2, indexed to Bunnings) 98.9% 2.1x 1.5x 1.0x 26.8% Sales growth Space growth Bunnings US Peer A US Peer B (FY15
Slide 30: Material opportunity to drive commercial growth
Material opportunity to drive commercial growth The commercial segment (c.38% of sales in 1H25) operates in a large, growing and fragmented market. Bunnings’ diverse commercial customer base provides resilience through the cycle Whole of Build Equip the Trades Business and Organisations Scope Buildi
Slide 31: Improving our digitally-enabled customer experience
Continually improving our digitally-enabled customer experience Leveraging our omnichannel … and our rich customer data … to drive a seamless and model … (together with Gen AI) … personalised experience 3511 stores Over 6 million known and Over 80% of all direct contactable customers communications
Slide 32: Scaling our marketplace
Scaling our marketplace More range and sellers New and expanded categories Commercial offers • Over 180,000 marketplace SKUs • Recently introduced Automotive and • Commercially-focused ranges (e.g., across 500+ sellers Assisted Living categories kitchenware, appliances and storage) • 800%+ growth in
Slide 33: Retail media at Bunnings
Retail media at Bunnings: Instore Onsite Offsite Creating measurable value for advertisers Initial campaign partnerships delivering strong engagement and returns for both endemic and non-endemic advertisers Wesfarmers 2025 Strategy Briefing Day | 32
Slide 34: Enhancing productivity through investment in technology
Enhancing productivity through investment in technology Better team applications Improved systems Generative AI Store technology • Consolidating and updating • Better demand planning • Team-facing chatbot • Leveraging physical legacy store applications and order management capability since 2024 tech
Slide 35: Productivity and customer experience through supply chain
More productivity and better customer experience through our supply chain • Fewer, fuller trucks to stores Better store • Simpler, faster and more efficient shelf replenishment replenishment • To deliver improved safety, customer experience and inventory efficiency • 400+ fulfilment locations Improv
Slide 36: Key messages
Key messages • Our model and addressable market continues to support growth and resilience through the cycle • Key strategies to drive sales and earnings growth over the long term: − Expand and innovate our offer to unlock incremental sales and earnings − Grow and optimise our retail space, includin
Slide 37: Kmart Group
NOW/TAN GROUP KMART ©1540) 6] x ALEKSANDRA SPASESKA ALEKSANDRA SPASESKA Managing Managing Director Director - fe) COroe e t ) Mnitelamelcolele) Kmart Group 5
Slide 38: Positioned for sustainable growth in sales and earnings
Positioned for sustainable growth in sales and earnings Where we are today Focus of future strategy Demonstrated long-term growth in sales and earnings Strengthening and growing the core Product Retail brands with strong customer engagement Stores Cost structure Uniquely differentiated product brand
Slide 39: Unique competitive advantages
Unique competitive advantages Anko brand Low price positioning Store network Digital engagement • Trusted market-leading product • Significant sourcing advantage • >650m web sessions p.a. • 84% of Australians live within brand underpinned by long-term 10km of Kmart or Target • Engaged and growing ap
Slide 40: Strategic alignment with evolving customer expectations
Strategic alignment with evolving customer expectations Changing demographics Growing importance of younger customers, with strongest growth in retail spend contributed by Gen Z and Alpha Importance of value Value is an enduring trend across all customer segments Wesfarmers 2025 Strategy Briefing Da
Slide 41: Purpose and strategic pillars
Purpose and strategic pillars Making Everyday Living Brighter Vision Where families come first for the Where quality comes first, lowest prices on everyday items at low prices Low-cost leadership Better products at Stores that customers Profitable global through operational Winning online offer even
Slide 42: Better products at even lower prices
Better products at even lower prices Large and growing addressable market with significant opportunity to grow share of wallet … Apparel (share c.8%) GM, Active & Beauty (share c.9%) Home & Living (share c.10%) Total Australian market c.$47b Total Australian market c.$33b Total Australian market c.$
Slide 43: Better products at even lower prices
Better products at even lower prices Leveraging technology to extend market leadership in product development Benefits Higher sales, More efficient product Increased speed to lower markdowns development market Digital supplier Digitisation of ranging, AI-powered market Capabilities Multi-speed model
Slide 44: Stores that customers and team members love
Stores that customers and team members love Store format Customer experience Engaged team • Successful new store format trial, • Improved on-shelf availability through • Digitisation of store replenishment Progress based on optimising return on space apparel RFID1 processes and improving shopping ex
Slide 45: Low-cost leadership through operational excellence
Low-cost leadership through operational excellence Supply chain modernisation Inventory optimisation Digitising store operations • Centralisation of home delivery orders • Lead time reduction through data-driven • Commenced digitisation of store through two new automated CFCs1 for forecasting, order
Slide 46: Low-cost leadership: Next Gen fulfilment centre
Low-cost leadership through operational excellence: Next Gen Next Gen investment Driving benefits across… Customer availability Store congestion Variable costs of fulfilment • c.100,000 sqm purpose-built omnichannel facility servicing stores and online Team member safety Home delivery speed Environm
Slide 47: Winning online offer
Winning online offer Leveraging data and insights for a seamless, convenient and personalised online experience Product discovery Growing app Enhanced online Greater rewards and social commerce engagement fulfilment • Expansion of social • >1.3m monthly app users1, • Central fulfilment improving • G
Slide 48: Winning online offer: curated marketplace
Winning online offer: greater choice through a new, curated marketplace Leveraging Kmart’s scale, brand strength and digital engagement to launch a curated online marketplace and satisfy more customer missions Marketplace based on … Customer-centric offer – curated and relevant Integrated digital ex
Slide 49: Profitable global growth
Profitable global growth Anko is well placed to leverage strong value credentials and hard to replicate capabilities Value increasingly important to Anko products are resonating with customers Anko leverages unique capabilities customers globally • Globally, consumers are increasingly value- • Signi
Slide 50: Profitable global growth: partnerships and stores
Profitable global growth Leveraging Anko’s world-class capabilities to expand into new markets Partnerships Stores Distributing Anko products to business partners for sale Anko branded stores in markets with to customers in new markets high growth in middle-income households Partner examples: Mattel
Slide 51: Key messages
Key messages • Consistent focus on execution of strategies to strengthen and grow the core while scaling new growth platforms will allow Kmart Group to grow its addressable market and share of customer wallet • Focus on further strengthening and growing the core through: − Continued improvements in
Slide 52: Officeworks
OFFICEWORKS OFFICEWORKS SARAH HUNTER SARAH HUNTER Managing Director Managing Director Officeworks Officeworks officeworks officeworks geeks2u @ Box of Books » Porot offic ks for business ewer
Slide 53: Our focus is on delivering profitable growth
Our focus is on delivering profitable growth Strategic framework Growth strategies Strengthen the omnichannel customer experience Transform the technology offer and experience Scale B2B Modernise and simplify the business Wesfarmers 2025 Strategy Briefing Day | 52
Slide 54: Strong value credentials resonate with customers
Officeworks’ strong value credentials resonate with customers Low Prices Widest Range Best Experience • Trusted pricing credentials • Broad product range appealing to both • Connected and personalised business (B2B) and personal shoppers omnichannel experience enabled by • Enabled by ongoing product
Slide 55: Strengthening the omnichannel customer experience
Strengthening the omnichannel customer experience to drive growth Stores Online and digital Delivery Customer loyalty • Expand network by 10 new stores • Improve B2B digital experience • Expanding 2-hour, same-day • Scale Officeworks for Business in FY26, with 6 net new stores and next-day delivery
Slide 56: Benefiting from investments in loyalty and data
Benefiting from investments in loyalty and data Unique data assets and capabilities supporting growth and returns 12.5m+ More relevant and personalised 1 in 2 product Unique customers in recommendations on the customer offers website are personalised the Shared Data Asset Customer ~6m Known and Offi
Slide 57: Transforming the technology offer and experience
Transforming the technology offer and experience Evolve and innovate the Expand technology Strengthen the instore Renew the store network technology range services customer experience • Increase core technology • Scale pre-paid and post-paid • Increase team member • Improve technology offer range te
Slide 58: Expanding technology products and services
Expanding technology products and services AI-enabled PCs Televisions and premium displays Pre-paid and post-paid telco Expanding range of premium and Evolving and expanding digital display offer Ongoing trials to provide a complete customer AI-enabled laptops and PCs to including monitors, digital
Slide 59: Scaling the B2B offer across all customer segments
Scaling the B2B offer across all customer segments Strong track record of B2B sales growth Priorities to drive further growth Scale government and large corporate contracts +10% CAGR Evolve the SME loyalty program to provide more value to customers Scale complete Education offer enabled by Box of Bo
Slide 60: Expanding product range and services for B2B customers
Expanding product range and services for B2B customers Learning resources Televisions & premium Office facilitiesdisplays Technology for SME customers Complete the education offer enabled by Expand cleaning, catering and hygiene Introduce new technology products and Box of Books to create a one-stop
Slide 61: Investing to modernise and simplify the business
Investing to modernise and simplify the business New automated Realise benefits from demand and ERP upgrade omnichannel supply chain replenishment transformation facility in Queensland • Technology system successfully deployed • Upgrade of core operating technology • Strengthen service capabilities
Slide 62: Key messages
Key messages • Delivering profitable growth by meeting the changing needs of personal and B2B customers as they work, learn, create and connect • Continuing to invest in Low Prices, Widest Range and Best Experience across every channel • Expect to rollout 10 new stores in FY26, of which 6 are net ne
Slide 63: OneDigital
O) NI SDICINANE ONEDIGITAL NICOLE IN @X@)i SS)SHEFFIELD | tt) | od nD) Toe a Se aeteta OneData OnePass OneReach Managing M ing Director Di Wesfarmers OneDigital
Slide 64: Driving incremental value for customers and divisions
Driving incremental value for customers and the retail and health divisions Manages the Group’s shared data Membership program with compelling New retail media network opportunity, asset, and enables deeper customer omnichannel benefits, driving customer monetising the Group’s scale, digital insight
Slide 65: OneData operates our Group-wide data insights engine
OneData operates our Group-wide data insights engine OneData operates the Three priorities to support value creation Shared Data Asset Drive incremental sales in the retail and health divisions 12.5m+ unique identifiable customers Enrich the customer dataset to build high-value audiences and create
Slide 66: OnePass provides compelling omnichannel benefits
OnePass provides members with compelling omnichannel benefits Benefits across a Highly complementary Compelling instore and Low-cost membership unique, broad range of with Flybuys online benefits program partners and Sister Club OnePass supports Flybuys and Sister Free Delivery $4 per month Club by
Slide 67: OnePass members are our most engaged customers
OnePass members are our most engaged customers OnePass members: Drive cross-shop activity Spend more than non-members Support divisional sales across the Group Shop A sales uplift of Members cross-shop 3.3x +20% c.2x more than for members after more than non-members at non-members per annum they joi
Slide 68: OnePass continues to improve customer experience and value
OnePass continues to improve the customer experience and deliver value Driving cross-shop and greater Improving the omnichannel Maximising the value of personalisation customer experience strategic partnerships • Increasing personalisation supports • Seamless customer experience to • Maximising Flyb
Slide 69: OneReach positioned to unlock a significant earnings opportunity
OneReach is uniquely positioned to unlock a significant earnings opportunity The market opportunity OneReach competitive advantage Growth in the Australian retail media market Unmatched audience reach Supported by OneData (12.5m+ unique customers) and the is accelerating Group’s extensive physical a
Slide 70: The retail media network value chain
The retail media network value chain OneReach provides dedicated product, data, technology and sales capabilities, and connects Group-wide audiences and insights with advertisers. The Group’s ‘category specialists’ (e.g., Hammer Media) will leverage OneReach’s capabilities and work with divisional-s
Slide 71: Key messages
Key messages • Operates a unique data asset of • Members receive compelling • OneReach has a significant scale omnichannel benefits opportunity to unlock incremental • Driving incremental spend in the • Continuing to drive cross-shop profits for the divisions and Group retail and health divisions, a
Slide 72: Panel Q&A
PANEL Q&A Bunnings Group, Kmart Group, Officeworks and OneDigital MICHAEL SCHNEIDER ALEKSANDRA SPASESKA Managing Director, Managing Director, Bunnings Group Kmart Group SARAH HUNTER NICOLE SHEFFIELD Managing Director, Managing Director, Officeworks Wesfarmers OneDigital
Slide 73: WesCEF
WESCEF WESCEF INNONE HOOD AARON Tele) AIG covalent Kleenheat Managing Director Managing Director CSBP Wesfarmers Wesfarmers Chemicals, Chemicals, Energy and Energy and Fertilisers Fertilisers IRD Australian Vinyls Q\NIP| {]monwoop
Slide 74: WesCEF overview
WesCEF overview Vision: To grow a portfolio of leading, sustainable businesses Safe person, Foster a culture that recognises Enhance our reputation and Evolve through continuous Safe process, diversity and focuses on achieve net zero by 2050 improvement and investment Safe place customers With busin
Slide 75: WesCEF strategic focus areas
WesCEF strategic focus areas Lithium delivery Operational excellence Customer focus Major growth projects Commissioning of the lithium Continued strong plant Strengthening capabilities Capacity expansions supported hydroxide refinery and continuing performance and productivity as a reliable and trus
Slide 76: Lithium – market
Lithium – market Lithium demand is expected to remain strong over the medium to long term Lithium demand by end use1 CAGR (CY24-30) • Growth expected from strong demand for electric 3,000 2,687 vehicles and battery energy storage systems 4.0% 2,500 10.5% kt LCE2 2,000 15.7% − Global electric vehicle
Slide 77: Lithium – Mt Holland mine and concentrator update
Lithium – Mt Holland mine and concentrator update Ramping up spodumene concentrate production and improving recovery rates Mt Holland production and recovery3 • Continuing the ramp up of spodumene concentrate production kt % 40,000 90 January production − For FY25, WesCEF’s 50% share of production i
Slide 78: Lithium – Covalent lithium project update
Lithium – Covalent lithium project update A globally competitive, unique Construction and commissioning FY26 will be a transitional year integrated asset of the refinery progressing well • Mine asset is well positioned on the global • Construction largely complete • Higher unit costs as the refinery
Slide 79: Operational excellence and customer focus
Operational excellence and customer focus WesCEF continues to focus on improving production Strengthening capabilities as a reliable and trusted outcomes and driving a cost-conscious culture business partner • Improved production rates from focused operational management, Energy transition and disci
Slide 80: Major growth projects
Major growth projects WesCEF continues to make significant progress on existing capacity expansion projects Nitric Acid Ammonium Nitrate Sodium Cyanide Covalent lithium project (NAAN) debottlenecking expansion expansion • Work on the planned debottlenecking of the • FID4 made in 1H25, with capacity
Slide 81: Decarbonisation
Decarbonisation Ongoing work to achieve WesCEF’s interim 2030 target, as part of the Net Zero Roadmap 40% reduction Completed Implementation Feasibility Unidentified already achieved ktCO2e1 1,810 Further 30% reduction to meet 2030 target 955 (855) 669 0 FY20 unabated FY20 abatement FY20 baseline Op
Slide 82: Key messages
Key messages Continue to execute opportunities within strategic focus areas: • Covalent lithium project entering an important phase as the refinery moves from commissioning into production, with first product expected mid-CY25 – FY26 is a transitional year as the refinery ramps up ▪ At current subdu
Slide 83: Industrial and Safety
INDUSTRIAL & INDUSTRIAL AND SAFETY SAFETY TIM BULT Managing Director Managing Director Wesfarmers Wesfarmers Industrial & Industrial and Safety Safety
Slide 84: Strategic agenda
Strategic agenda Three distinct businesses operating in the industrial segments Market position #1 Australia, #1 NZ #1 uniforms and industrial workwear #3 challenger Competitive Well-established position with broad Strong market position, Expertise, reliable supply and advantage distribution and sto
Slide 85: Historical earnings and safety performance
Historical earnings and safety performance WIS earnings performance (excluding Coregas)1 WIS TRIFR (R12)2 EBT, $m TRIFR (R12) 80 2H 10 70 1H 8 60 50 6 40 30 4 20 2 10 - 0 (10) FY20 FY21 FY22 FY23 FY24 1H25 FY20 FY21 FY22 FY23 FY24 1H25 • Focused on long-term earnings and return on capital improvemen
Slide 86: Blackwoods – actions delivering improved operational performance
Blackwoods – actions delivering improved operational performance Recent actions to reset the operating model and enhance customer service have improved operational performance and are expected to support long-term earnings growth • Reset of the cost base enabled by ongoing investments in systems, in
Slide 87: Blackwoods – opportunity to drive long-term sales and earnings growth
Blackwoods – opportunity to drive long-term sales and earnings growth Opportunity to drive sales and earnings following the Driving customer-led Executing productivity and growth efficiency initiatives reset of the operating model • Build a market-leading • Investing in digital process customer prop
Slide 88: Workwear Group – current priorities
Workwear Group – current priorities A leading manufacturer Continuing to deliver and supplier of workwear Strengthening the position Strengthening the uniform initiatives to support growth of key brands proposition solutions with three clear and efficiency priorities for growth • Strong market posit
Slide 89: Coregas – resilient performance with multiple avenues for growth
Coregas – resilient performance with multiple avenues for growth Growth supported by agility, technical innovation, reliability of supply and operations capability • Industrial gas is an essential input for a diverse range of industries • Expected to benefit from continued strong demand in the healt
Slide 90: Key messages
Key messages • Trading conditions continue to be challenging • The reset of the operating model and cost base in Blackwoods and Workwear Group is expected to mitigate cost pressures and support sustainable earnings growth • At Blackwoods, recent actions have enhanced customer service and experience
Slide 91: Wesfarmers Health
WESFARMERS WESFARMERS HEALTH HEALTH EMILY AMOS EMILY AMOS I Felareve item Director Managing BY c=tes vole Wesfarmers Health Wesfarmers Health
Slide 92: Our mission
Our mission Our mission is to make Australians’ health, beauty and wellness experiences: Simpler More affordable Easier to access Wesfarmers 2025 Strategy Briefing Day | 91
Slide 93: Growing addressable market of c.$65 billion
Growing addressable market of c.$65 billion with strong fundamentals Ageing population, More health conscious, digitally Growing demand for increase in chronic disease literate consumers consumer-led health and beauty Wesfarmers 2025 Strategy Briefing Day | 92
Slide 94: A consumer-focused business enabled by vertically integrated Wholesale
A consumer-focused business enabled by a vertically integrated Wholesale segment Consumer Retail Pharmacy, Beauty and Wellness Digital Health MediAesthetics Accelerating earnings in the higher-margin and less-capital intensive Consumer segment Wholesale Improving performance in the vertically integr
Slide 95: Good progress executing the transformation program
Good progress executing the transformation program over the last year Consumer Retail Pharmacy, Beauty and Wellness Digital Health MediAesthetics Accelerating earnings • 23 new stores1 • Maintained market • Completed SILK in the higher-margin leadership and integration and less-capital • Price reduc
Slide 96: Focused on transformation and growth
Focused on transformation and growth to improve earnings and returns Priorities to transform the business and deliver earnings growth include: Investing in and Improving performance in Growing share and scale leveraging unique loyalty, Wholesale and reducing in Consumer data and digital assets costs
Slide 97: Priceline Pharmacy differentiated offering
Priceline Pharmacy is a full-service pharmacy with a differentiated health, beauty and service offering Strong franchisee and customer proposition One of Australia’s Differentiated by Market-leading health Australia’s largest Great brands and most loved retail service in health services, through hea
Slide 98: Accelerating Priceline Pharmacy growth
Accelerating Priceline Pharmacy growth Expand exclusive Strengthen the Provide even better Drive network growth brands and private Grow health services omnichannel value for customers label customer proposition A skincare and beauty Lower prices on key value Rollout stores to high Leverage investmen
Slide 99: Exploring two new trial formats
Exploring two new trial formats to expand the addressable market Leveraging our health and beauty capabilities across two new trial formats An accessible and aspirational A small format community pharmacy, beauty and wellness destination focused on convenience and health services Wesfarmers 2025 Str
Slide 100: Investing in unique loyalty, data and digital assets
Investing in and leveraging unique loyalty, data and digital assets Transform loyalty program New Priceline app Enhance online platforms Scale retail media Launching in 1H26, new app to be Leveraging OneReach and Initiatives underway to strengthen Accelerate online growth by integrated across loyalt
Slide 101: Digital Health and MediAesthetics well-positioned for growth
Digital Health and MediAesthetics are market-leading and well-positioned for profitable growth Digital Health MediAesthetics Simplifying InstantScripts’ InstantScripts providing Shared ownership model Driving growth in product consumer offer access to new customer in SILK continues to attract sales
Slide 102: Wholesale is an enabler of the Consumer business
Wholesale is an enabler of the Consumer business and supports our retail network and other pharmacies Focused on improving the customer proposition by providing: Compelling service Competitive pricing Quality private label independent pharmacies Wesfarmers 2025 Strategy Briefing Day | 101
Slide 103: Improving Wholesale performance and reducing costs
Improving performance in Wholesale and reducing costs across the business Wholesale Reducing operating costs • Reducing supply chain costs through increased automation • Outsourcing partnership to lower the cost of core processes and support growth • New distribution centre in Cairns expected to be
Slide 104: Key messages
Key messages • Significant opportunity to improve earnings and returns • Operating in large and growing markets with compelling fundamentals • Accelerating earnings in the growing, higher-margin and less capital-intensive Consumer segment, and improving performance in Wholesale • Priorities to trans
Slide 105: Panel Q&A
PANEL Q&A WesCEF, Industrial and Safety, and Wesfarmers Health AARON HOOD TIM BULT Managing Director, Wesfarmers Managing Director, Chemicals, Energy and Fertilisers Wesfarmers Industrial and Safety EMILY AMOS Managing Director, Wesfarmers Health
Slide 106: Wesfarmers
NY, Wesfarmers TIM BULT EMILY AMOS Managing Director, Managing Director, Wesfarmers Industrial Wesfarmers Health and Safety