Slide 1: Nufarm FY2025 Full Year Results
Nufarm FY2025 Full Year Results Evolving Ag
Slide 2: Disclaimer
Disclaimer General This presentation has been prepared by Nufarm Limited. The information contained in this presentation is for informational purposes only as at the date of this presentation on 19 November 2025. The information contained in this presentation is not investment or financial product a
Slide 3: FY25 Results Overview
FY25 Results Overview Greg Hunt 3
Slide 4: Key messages
Key messages We delivered on profitability and seasonal debt unwind in FY25 1 Result in line with the August update Revenue uNPAT • uEBITDA $302m, Net Debt $824m, Leverage 2.7 Loss $3.4b 2 Statutory loss of $165m +3% y/y $22.9m • Includes $142m mainly non-cash material items from Seed Technology rev
Slide 5: Highlights in FY25
Highlights in FY25 CROP PROTECTION SEED TECHNOLOGIES A year of strong growth Reprioritised strategy • Growth in profitability in all regions • Lowered costs and capital requirements across the business • uEBITDA margin +141bp on pcp • Hybrid seeds performed well with increased revenue and profitabil
Slide 6: Reprioritised Seed Technologies strategy
Reprioritised Seed Technologies strategy Review involved thorough assessment of strategy, benefit of capital partner and/or sale Concluded that a reprioritised strategy expected to deliver the best value for shareholders Four Priority Actions 1 Reduce cash costs and capital requirements across the b
Slide 7: Strong growth in crop protection
Strong growth in crop protection Underlying EBITDA +18% on pcp with growth in all regions Crop Protection uEBITDA ($m) • Profitable growth from all regions • Prices firming • Positive mix benefit • Focused on profitable growth in a flat volume environment • Reduction in inventory days • Benefits fro
Slide 8: Crop Protection regional performance
Crop Protection regional performance Disciplined execution drove improved performance from all regions $m FY25 FY24 Change y/y APAC APAC • Strong result considering impact of dry weather in Australia Revenue 866 867 (0%) • Record revenue and profitability in Asia uEBITDA 98 89 10% • Margin uplift dr
Slide 9: Seed Technologies
Seed Technologies Robust hybrid seeds results. Clear pathway to reposition Omega-3 Hybrid Seeds $m FY25 FY24 Change % • Overall result impacted by dry weather in Australia. Good growth in South America Revenue 336 348 (4%) • South America sorghum and sunflower ahead of prior year Underlying EBITDA •
Slide 10: Financial Performance
Financial Performance Brendan Ryan 10
Slide 11: Profit and loss summary
Profit and loss summary Strong improvement in Crop Protection. Statutory result impacted by material items and Emerging platforms $m FY25 FY24 Change % Revenue 3,443 3,346 3% Gross profit 900 840 7% Gross profit margin 26.1% 25.1% 1.0 ppts EBIT (74) 65 Large Net financing costs (101) (108) (6%) Stat
Slide 12: Material items
Material items Material items relate to Seed Technologies review and performance improvement program • Primarily non-cash with a FY25 cash impact of approximately $30m • Restructuring, including redundancy and contract exit costs • Impairments of Sunflower and Canola intellectual property • Write-do
Slide 13: Margin and cost performance
Margin and cost performance Improvement in underlying gross margin. R&D expenditure maintained in line with inflation. Cost savings program addressing increase in SG&A • Underlying gross margin +80bp driven by cost $m FY25 FY24 Change % of goods and mix Underlying gross profit 950.1 895.0 6% • Under
Slide 14: Net working capital management
Net working capital management Average Net Working Capital reduced by 4.4ppts, driven by inventory days reduction of 16 days • Average NWC % Sales within 35-40% range. Further improvement is targeted • Reduction in inventory from all crop protection regions • Achieved 16-day reduction in average inv
Slide 15: Capital expenditure
Capital expenditure Capital investment similar to prior year Capital Expenditure ($m) • Investment in PP&E focused on Health, Safety Environment and plant reliability 300 • Crop protection intangibles capex. Delivering value through product pipeline 254 246 16 8 • Investment in Seed Technologies gro
Slide 16: Free cash flow bridge
Free cash flow bridge Actions taken to generate positive free cash flow in FY26 Actions for FY26 FY25 Cash movements ($m) 2 1 Expect EBITDA growth y/y 3 1 2 Targeting NWC reduction in FY26 4 3 Lower funding of Omega-3 4 Targeting capex less than $200m 16
Slide 17: Net debt bridge
Net debt bridge Seasonal reduction in debt as expected in 2H25. Unfavourable FX movement and Omega-3 inventory contributed to increase in debt FY25 Net Debt Bridge ($m) • $538m seasonal unwind in net debt in 2H25 94 14 1,362 • $109m to fund Omega-3 163 458 • $47m unfavourable FX movement over the ye
Slide 18: Diversified funding and maturity profile
Diversified funding and maturity profile Diversified and flexible debt facilities underpinned by a covenant-lite financing structure Access to undrawn funding that is consistent with the prior period Staggered debt maturity profile with refinancing of short-term Omega-3 trade facility completed Prin
Slide 19: CFO summary
CFO summary1 Actions to reduce debt and leverage continuing and expected to deliver further benefits in FY26 1 The group has a solid base level of profitability 4 Positive cash flow expected Crop Protection profitability improved across all Actions to reduce NWC regions and hybrid seeds generating s
Slide 20: Outlook
Outlook Rico Christensen 20
Slide 21: Strong foundations
Strong foundations Nufarm has leading positions in crop protection and seeds, with opportunity to build1 #5 CROP PROTECTION CANADA #3 CEREAL PGR GLOBAL PHENOXY EUROPE FRANCHISE #3 TURF & ORNAMENTAL # 1 CEREAL PHENOXIES NORTH AMERICA # 2 COPPER #3 BURNDOWN SEGMENT # 2 ACETAMIPRID NORTH AMERICA #3 SOR
Slide 22: FY26 priorities
FY26 priorities1 Focus on profitable growth, disciplined capital allocation and free cash flow generation 1 Cost and capital discipline • Prioritise free cash flow generation, debt and leverage reduction • Embed culture of cost and capital deployment discipline Drive profitable growth in crop protec
Slide 23: FY26 outlook
FY26 outlook1 1 Expecting strong growth in uEBITDA in FY26 assuming normal seasonal and market conditions 2 In Crop Protection, continuing growth in uEBITDA, moderating on 18% growth in FY25 3 For Seed Technologies, growth in uEBITDA from hybrid seeds. Targeting a $30m improvement in uEBITDA from Em
Slide 24: Q&A
Q&A 24
Slide 25: Appendices
Appendices “nufarm
Slide 26: Appendix 1: Omega-3 deregulation timeline
Appendix 1: Omega-3 deregulation timeline Canada approval for Australia approval for 1st commercial crop aquafeed, livestock feed, US FDA approval as US approval for food, feed & (35k acres) planted and human consumption & a new dietary cultivation cultivation harvested cultivation ingredient CY11 …
Slide 27: Appendix 2: Revenue bridge
Appendix 2: Revenue bridge Revenue ($m) +97M +3% • Overall volumes were slightly down impacted by 147 62 softer conditions in APAC and North America CP 3,443 (12) which more than offset double digit volume growth 3,346 (95) in Europe (3) Seed • Favourable mix across all regions, with shifts into Tec
Slide 28: Appendix 3: Non-IFRS disclosures & definitions
Appendix 3: Non-IFRS disclosures & definitions1 Term Definition Gross profit margin Gross profit as a percentage of revenue Underlying gross profit Gross profit excluding the impact of material items Underlying gross profit margin Underlying gross profit as a percentage of revenue Underlying SG&A Sa
Slide 29: Appendix 4: Segment information and reconciliation
Appendix 4: Segment information and reconciliation Restated Revenue - Underlying 2025 2024 Change Change ($000s) $000 $000 $000 % Crop protection APAC 865,725 866,540 (815) (0%) North America 1,320,049 1,300,823 19,226 1% Europe 921,554 830,068 91,486 11% Total Crop protection 3,107,328 2,997,431 10
Slide 30: Appendix 5: Seed Treatment reclassification
Appendix 5: Seed Treatment reclassification As Reported Adjustment Restated Revenue - Underlying 2025 2024 2024 2024 Change Change ($000s) $000 $000 $000 $000 $000 % Crop protection APAC 865,725 864,600 - 1,940 866,540 (815) (0%) North America 1,320,049 1,266,262 - 34,561 1,300,823 19,226 1% Europe
Slide 31: Appendix 6: Underlying and statutory profit
Appendix 6: Underlying and statutory profit 12 months ending 30 Sep 2025 12 months ending 30 Sep 2024 Underlying Material items Total Underlying Material items Total $000 $000 $000 $000 $000 $000 Revenue 3,443,379 - 3,443,379 3,345,909 - 3,345,909 Cost of sales (2,493,247) (50,145) (2,543,392) (2,45
Slide 32: Appendix 7: Cashflow
Appendix 7: Cashflow Underlying Material items Total group 2025 $000 $000 $000 Cash flows from operating activities Net operating cash flows 192,614 (29,849) 162,765 Cash flows from investing activities Net investing cash flows (245,613) - (245,613) Cash flows from financing activities Net financing
Slide 33: Appendix 8: Constant currency results
Appendix 8: Constant currency results 6 months ended Sep 2025 Sep 2025 Sep 2024 Constant Reported Constant1 Reported currency A$ million currency % Change Revenue 3,443.4 3,389.0 3,345.9 1% Underlying EBITDA 302.5 297.7 312.7 -5% Underlying EBIT 82.0 84.1 107.3 -22% Average exchange rates FY25 v FY2