Noumi Limited · ASX:NOU
Noumi — Shareholder Meeting (January 2021)
40 slides from Noumi's shareholder meeting presentation, Jan 29, 2021
Slide 1: Annual General Meeting Presentation and Addresses
Freedom Foods Group Limited ABN 41 002 814 235 80 Box Road Taren Point NSW 2229 T: +61 2 9526 2555 www.ffgl.com.au /FreedomFoodsGroup 29th January 2021 Company Announcements Office ASX Limited Level 4, 20 Bridge Street Sydney NSW 2000 Freedom Foods Group Limited (ASX: FNP) Annual General Meeting Pre
Slide 2: Chair's address: Perry Gunner
Perry Gunner Chair It is no understatement to say that this has been difficult year for your company. The full-year accounts we released at the end of last year were confronting for all of us – not the least for you, our shareholders. They were the result of a number of factors going back several ye
Slide 3: Chair's address: recapitalisation and governance
Unfortunately, the potential investor, the Company and our banks were not able to agree acceptable terms. Following detailed and in-depth negotiations over several months, this was both unexpected and disappointing. However, as you can see from our announcement this morning, I am pleased to say that
Slide 4: Chair's address: board changes
You will have the opportunity to hear a little more about Tim and Tony when considering their election and re-election, respectively. At the conclusion of the AGM, Ron Perich will retire from the Board. On behalf of the Board, I would like to thank Ron for more than 17 years of invaluable service an
Slide 5: Chair's address: operational review and Cereal and Snacks sale
And we have worked with Michael and his team to improve internal management processes and business intelligence, such as inventory controls and delegations of authority, while providing a clearer focus on operational KPIs and reporting. Turning to our operational performance of the business, Michael
Slide 6: Interim CEO's address: Michael Perich
Notwithstanding the deep disappointment of the past year, it has been a privilege to have worked with the Freedom team and fellow Board members. I am confident that I will be leaving Freedom in the very capable and committed hands of a new Board, a new Chair and a new executive team. I wish the Comp
Slide 7: Interim CEO's address: simplifying the business
The most obvious change to address this complexity has been the decision to the sell Cereal and Snacks, which Perry touched on earlier. Our Specialty Seafood division is also under review and a decision on whether to retain or divest this business is expected to be made at the appropriate time. The
Slide 8: Interim CEO's address: product formulations and culture
We are also addressing our product formulations and ingredients, particularly to ensure that product specifications match their price point and we continue to deliver quality brands for our consumers. Naturally, we would never compromise the quality of our products. But selling a higher- protein pro
Slide 9: Interim CEO's address: trading update and outlook
At the full-year results in November, I indicated that, year-to-date, the business had returned to a small profit on an unaudited adjusted EBITDA basis, before restructuring and one-off costs. I am pleased to say that this positive trend has continued. We will provide a more comprehensive update on
Slide 10: Director's address: recapitalisation background
This support has allowed the Company to put in place a standstill agreement with our banks, and the Perich family guaranteed the interim liquidity needs of the business, which has given us the time to work through the audit and the best options to recapitalise the business. Working with our advisors
Slide 11: Director's address: convertible notes participation
capital and a stable capital structure to enable the Company to continue it financial and operational turnaround. Importantly, the structure provides an opportunity for all eligible Freedom Foods shareholders to participate in the recapitalisation by opting to subscribe for Convertible Notes on the
Slide 12: Freedom Foods Group Limited January 2021
freed GROUP ing food better FREEDOM FOODS GROUP LIMITED AGM PRESENTATION 29 JANUARY 2021 MAKING FOOD BETTER
Slide 13: Disclaimer
The following disclaimer applies to this presentation and any information provided in this presentation (Information) This presentation has been prepared on information available at the time of its preparation. The Information is in summary form and does not purport to be complete Except as required
Slide 14: Perry Gunner, Chairman
Perry Gunner CHAIRMAN freedQmn cour
Slide 15: Presenters and AGM resolutions
• Presented by Perry Gunner • Presented by Michael Perich • Presented by Genevieve Gregor • AGM Resolutions
Slide 16: Chair's Address
CHAIR'S Perry Gunner CHAIRMAN _ ADDRESS freedQmn cour
Slide 17: Interim CEO's Address
= — INTERIM ¥ CEO'S Michael Perich INTERIM CEO ADDRESS freedQua, crou
Slide 18: FY20 Key Highlights
FY20 Key Highlights Our dairy and nutritional business processed over 300 million litres of UHT milk Export sales up 28.7% to $109.8 million 858 freedom, GROUP Nutritionals Produced 13.1 tonnes of Lactoferrin with part year production MILKLAB 4] Growth in MILKLAB™, sales increase of 73% and distribu
Slide 19: MILKLAB Plant-Based Barista Milk for Coffee
▪ MILKLAB™ ▪ Plant-Based Barista Milk for Coffee (Source: Café Pulse, Café Culture International) ▪ MILKLAB™ 5th Birthday celebrated nationally with baristas and consumers ▪ Brand advertising communications ▪ segments ▪ focus
Slide 20: Brand Highlights - Australia's Own
Brand Highlights - Australia’s Own = #1 Plant brand associated with Australian made "Barista Range accelerates market share +2pts + Se. cs om Oo ORGANIC ORGANIC ORGANIC SOY ALMOND | ALMOND ‘COCONUT RICE (SEY; 0): wey WE BELIEVE Coming Soon...... PURE AND = Brand advertising communications pMPLETS AE
Slide 21: Brand Highlights - Crankt
Brand Highlights - Crankt = Crankt Brand growth +5% (NSV YTD V YA) = Protein Bars +34% v YA driven by Crankt Max launch = Highest brand uniqueness scores in sports and diet category Coming Soon...... = New Native Protein Bar innovation June’21 = Petrol and Convenience distribution and point-of- sale
Slide 22: Brand Highlights - Vital Strength
Brand Highlights - Vital Strength VITAL STRENGTH RIPPED Sports performance portfolio benefits from global wellness trends as Sports Performance becomes mainstream. Core retail channels experience positive share of market growth, with double digit % dollar growth vs. last year. Re-investing in brand
Slide 23: Brand Highlights - PUREnFERRIN
Brand Highlights - PUREnFERRIN Drug repurposing potential for COVID-19 Prof. Nathan Bartlett - Head of Viral Immunology and Respiratory Disease - Faculty of Medicine. Researchers looking into lactoferrin ‘pink gold’ as potential COVID-19 treatment ByAysia Thomas Sam|2 months ago AUSTRALIAN, Ny} ie J
Slide 24: Focus on segments with greatest growth opportunity
Focus will be on segments with the greatest opportunity for further growth. MILKLAB Plant-Based * Continue to focus on strong | | AY Ay /\ | Wf esl @ fess] 6s tI] Beverages, Dairy performance of key brands and product and Nutritionals lines such as MILKLAB and Lactoferrin * Investment into key brand
Slide 25: Capital Raise
Zz 4 \/ | CAPITAL Genevieve Gregor INDEPENDENT NON- RAISE EXECUTIVE DIRECTOR freedQmn cour
Slide 26: Official AGM Resolutions
OFFICIAL AGM RESOLUTIONS BUSINESS freedQmn cour
Slide 27: Financial Reports
Financial Reports Receipt and consideration of the Financial Report for the Financial year ended 30 June 2020
Slide 28: Resolution: Adopt Remuneration Report
Resolution 1 Non-Binding Resolution to adopt Remuneration Report “That the Remuneration Report as set out in the Annual Report for the year ended 30 June 2020 be adopted.” 1
Slide 29: Proxy votes: Remuneration Report
Proxy For Against Abstain Discretion Votes by 45,330,048 386,036 23,803,955 685,922 Proxy 65% 1% 34% 1%
Slide 30: Resolution: Re-election of Anthony Perich
Resolution 2 — Re-election of Anthony Perich as a Director "That, Anthony (Tony) Perich, who retires in accordance with clause 74(3] of the Company’s Constitution and having offered himself for re-election and being eligible, be re-elected as a Director of the Company.”
Slide 31: Proxy votes: Anthony Perich
Proxy For Against Abstain Discretion Votes by 191,773,027 192,910 25,016,729 225,595 Proxy 88% 0.1% 12% 0.1%
Slide 32: Resolution: Election of Genevieve Gregor
Resolution 3 — Election of Genevieve Gregor as a Director "That, Genevieve Gregor, having been appointed as a Director of the Company since the last annual general meeting, and who retires from the office of Director in accordance with clause 74(3] of the Company's Constitution and ASX Listing Rule
Slide 33: Proxy votes: Genevieve Gregor
Proxy For Against Abstain Discretion Votes by 208,002,336 249,336 8,722,819 233,770 Proxy 96% 0.1% 4% 0.1%
Slide 34: Resolution: Election of Jane McKellar
Resolution 4 — Election of Jane McKellar as a Director “That, Jane McKellar, having been appointed as a Director of the Company since the last annual general meeting, and who retires from the office of Director in accordance with clause 74(3] of the Company's Constitution and ASX Listing Rule 14.4,
Slide 35: Proxy votes: Jane McKellar
Proxy For Against Abstain Discretion Votes by 206,215,961 250,436 10,507,847 234,017 Proxy 95% 0.1% 5% 0.1%
Slide 36: Resolution: Election of Timothy Bryan
Resolution 5 — Election of Timothy Bryan as a Director "That, Timothy Bryan, having been appointed as an Alternate Director of the Company and has been nominated by the Directors for election at the Annual General Meeting in accordance with clause 74(4] of the Company's Constitution and ASX Listing
Slide 37: Proxy votes: Timothy Bryan
Proxy For Against Abstain Discretion Votes by 201,175,095 253,436 15,536,229 243,501 Proxy 95% 0.1% 5% 0.1%
Slide 38: Resolution: Freedom Foods Equity Incentive Plan
Resolution 6 — Freedom Foods Equity Incentive Plan "That, for the purpose of ASX Listing Rule 7.2, exception 13 and all other purposes, the Freedom Foods Equity Incentive Plan (EIP], as described in the Explanatory Memorandum accompanying the Notice of Meeting be approved for the issue of securities
Slide 39: Proxy votes: Equity Incentive Plan
Proxy For Against Abstain Discretion Votes by 198,724,145 365,534 17,163,687 954,895 Proxy 91% 0.2% 8% 0.4%
Slide 40: Making Food Better
MAKING FOOD BETTER