Slide 1: Annual Shareholders' Meeting 2018
—_——. PGG Wrightson Christchurch, Canterbury Annual Shareholders’ Meeting 2018 Helping grow the country
Slide 2: Introductions and apologies
> Introductions and apologies Opening formalities Business of the Meeting Item I Addresses by the Deputy Chair and the Chief Executive Officer Item II Ordinary Resolution: Consider the re-election of Kean Seng U as Director Item III Ordinary Resolution: Consider the re-election of Lim Siang (Ronald)
Slide 3: Board of Directors
Guanglin (Alan) Lai Trevor Burt Bruce Irvine Chair Deputy Chair Independent Director Joo Hai Lee John Nichol Lim Siang (Ronald) Seah Kean Seng U Independent Director Independent Director
Slide 4: Chair, Deputy Chair and executive team
Alan Lai Trevor Burt Chair Deputy Chair Ian Glasson Peter Scott Julian Daly Chief Executive Officer Chief Financial Officer GM Strategy and Corporate Affairs
Slide 5: General managers
Grant Edwards Stephen Guerin John McKenzie GM Wool GGM Retail and Water GGM Seed and Grain Peter Newbold Rachel Shearer Peter Moore GM Real Estate GM Human Resources GM Livestock
Slide 6: Opening formalities
Introductions and apologies > Opening formalities • Notice of meeting • Minutes • Annual Report 2018 Business of the Meeting Item I Addresses by the Deputy Chair and the Chief Executive Officer Item II Ordinary Resolution: Consider the re-election of Kean Seng U as Director Item III Ordinary Resolut
Slide 7: Business of the Meeting Item I
Business of the Meeting > Item I Deputy Chair introduction Chief Executive Officer’s address Deputy Chair address continues Item II Ordinary Resolution: Consider the re-election of Kean Seng U as Director Item III Ordinary Resolution: Consider the re-election of Lim Siang (Ronald) Seah as Independen
Slide 8: Alan Lai, Chair
Alan Lai Chair Helping grow the country
Slide 9: Helping grow the country
Helping grow the country
Slide 10: Financial Performance Highlights
FINANCIAL PERFORMANCE 1IGHLIGHTS — — Operating EBITDA Net Profit after tax $70.2m | 218.9 m Earnings per share (EPS) of 2.5¢ per share, Fully imputed dividends of 3.00 ¢ per share for the year _ Helping grow the country
Slide 11: Helping grow the country
Helping grow the country
Slide 12: Financial Performance Highlights
FINANCIAL PERFORMANCE 1IGHLIGHTS — — Operating EBITDA Net Profit after tax $70.2m | 218.9 m Earnings per share (EPS) of 2.5¢ per share, Fully imputed dividends of 3.00 ¢ per share for the year _ Helping grow the country
Slide 13: 2018 Highlights
2018 HIGHLIGHTS In August 2018 PGW announced the Seed and Grain launched several exciting new conditional sale of cultivars to market this year in both New Zealand and PGW Seeds to DLF Australia. All products were Seeds. well received by growers. In March 2018 the Real Estate team sold a kiwifruit o
Slide 14: Helping grow the country
Helping grow the country
Slide 15: Group Operating EBITDA
Group Operating EBITDA (June year end) 70.2 $ million • Operating EBITDA of $70.2 60 million equals record result. • Since 2013 PGW has grown Operating EBITDA 40 by 48 percent (10% CAGR). 20 - 2013 2014 2015 2016 2017 2018
Slide 16: Group Net Profit After Tax
Group Net Profit After Tax (June year end) • 2018 includes Holidays $ million Act remediation costs. 40 • The 2016 and 2017 financial years benefited from non-operating items 18.9 including gains on sale of 20 property assets. - 2013 * 2014 2015 2016 2017 2018 * Excluding goodwill impairment, refer
Slide 17: Agency Operating EBITDA
Agency Operating EBITDA (June year end) • Record result for Agency. $ million 60 • Wool volumes picked up. • Go livestock products continue to grow. 40 20.1 20 - 2013 2014 2015 2016 2017 2018
Slide 18: Retail and Water Operating EBITDA
Retail and Water Operating EBITDA (June year end) • Record result for Retail $ million and Water. 60 • Rural Supplies, Fruitfed Supplies (horticulture) 40 and Agritrade all grew. • Water improved its 23.8 operating performance 20 despite challenging environment. - 2013 2014 2015 2016 2017 2018
Slide 19: Seed and Grain Operating EBITDA
Seed and Grain Operating EBITDA (June year end) $ million • New Zealand strength 60 offset by weakness in Australia and South America. 40 35.6 • Exciting new products launched: – Pallaton Raphno ® 20 – Ecotain® - 2013 2014 2015 2016 2017 2018
Slide 20: Group Operating EBITDA and FY2019 Forecast
Group Operating EBITDA and FY2019 Forecast (June year end) 80 • FY19 Operating EBITDA forecast approx. $70 million. $ million • New Zealand agriculture 60 remains strong with Rural Services forecast of $33 million has some 40 upside potential. • Seed and Grain forecast of 20 $36 million has some dow
Slide 21: PGG Wrightson Strategic
PGG Wrightson Strategic : 9%, ie oer 2° 8 ae. Helping grow the country
Slide 22: Questions and discussions
Questions and discussions Please wait for the microphone before addressing the room. Helping grow the country
Slide 23: Business of the Meeting - Resolutions
Introductions and apologies Opening formalities > Business of the Meeting - Resolutions Item I Addresses by the Deputy Chair and the Chief Executive Officer Item II Ordinary Resolution: Consider the re-election of Kean Seng U as Director Item III Ordinary Resolution: Consider the re-election of Lim
Slide 24: Business of the Meeting
> Business of the Meeting Item I Addresses by the Deputy Chair and the Chief Executive Officer Item II Ordinary Resolution: Consider the re-election of Kean Seng U as Director Item III Ordinary Resolution: Consider the re-election of Lim Siang (Ronald) Seah as Independent Director Item IV Ordinary R
Slide 25: Resolution 1: Kean Seng U Director
Resolution 1: Kean Seng U Director Kean Seng U is a current Director of PGG Wrightson Limited and joined the PGG Wrightson Board on 4 December 2012. Kean Seng retires by rotation in accordance with the Company’s Constitution, and being eligible, offers himself for re-election. Kean Seng is Head of C
Slide 26: Business of the Meeting
> Business of the Meeting Item I Addresses by the Deputy Chair and the Chief Executive Officer Item II Ordinary Resolution: Consider the re-election of Kean Seng U as Director Item III Ordinary Resolution: Consider the re-election of Lim Siang (Ronald) Seah as Independent Director Item IV Ordinary R
Slide 27: Resolution 2: Lim Siang (Ronald) Seah
Resolution 2: Lim Siang (Ronald) Seah Independent Director Lim Siang (Ronald) Seah is a current Director of PGG Wrightson Limited. He was appointed to the PGG Wrightson Limited Board on 4 December 2012. Ronald retires by rotation in accordance with the Company’s Constitution and being eligible, offe
Slide 28: Business of the Meeting
> Business of the Meeting Item I Addresses by the Chair and the Chief Executive Officer Item II Ordinary resolution: Consider the re-election of Kean Seng U as Director Item III Ordinary resolution: Consider the re-election of Lim Siang (Ronald) Seah as Independent Director Item IV Ordinary resoluti
Slide 29: Resolution 3: Auditor's remuneration
Resolution 3: Auditor’s remuneration Noting the automatic reappointment of KPMG as the Company’s auditor under section 207T of the Companies Act 1993, the proposed ordinary Resolution is to authorise the Directors to fix the auditor’s remuneration for the following year for the purposes of section 2
Slide 30: Business of the Meeting
> Business of the Meeting Item II Ordinary Resolution: Consider the re-election of Kean Seng U as Director Item III Ordinary Resolution: Consider the re-election of Lim Siang (Ronald) Seah as Independent Director Item IV Ordinary Resolution: Note the reappointment of KPMG as auditor and authorise th
Slide 31: Business of the Meeting – Move resolutions
> Business of the Meeting – Move resolutions Item II Ordinary Resolution: Consider the re-election of Kean Seng U as Director Item III Ordinary Resolution: Consider the re-election of Lim Siang (Ronald) Seah as Independent Director Item IV Ordinary Resolution: Note the reappointment of KPMG as audit
Slide 32: Business of the Meeting
> Business of the Meeting Item VI General Business
Slide 33: Thank You
Thank Yo Helping grow the country
Slide 34: PGG Wrightson
——— PGG Wrightson Helping grow the country