Slide 1: Nufarm HY25 results presentation
© 2025 Nufarm Limited 21 May 2025 ASX Release – Company Announcement Nufarm HY25 results presentation Attached is Nufarm Limited’s (ASX: NUF) (Nufarm) HY25 results presentation which will be delivered by Nufarm Executives today at 10:00am AEST. CEO, Greg Hunt, CFO, Brendan Ryan, Rico Christensen, Gr
Slide 2: Half Year Results
a obs Nufarr 1 FY25” Half jear Results oe
Slide 3: General
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 21 May 2025 . The information contained in this presentation is not investment or financial product advice & is not
Slide 4: Seed Technologies
Slide 5: Seed Technologies: hybrid seeds, omega-3, bioenergy
• hybrid seeds omega-3 / • nutritional bioenergy • new & emerging technologies •
Slide 6: 1H25 Results Overview & Greg Hunt
ya: 1H25 Results Overview & Greg Hunt
Slide 7: Strong recovery in Crop Protection. Actions to improve returns and free cash flow
Strong recovery in Crop Protection. Actions to improve returns and free cash flow • • • • • • • • • • • 6
Slide 8: Strong performances on multiple fronts
Strong performances on multiple fronts. • Crop Protection • • • Seed Technologies • • • Balance sheet • • New and emerging • 7
Slide 9: Crop protection benefiting from normalising market conditions and improved cost of goods position
Crop protection benefiting from normalising market conditions and improved cost of goods position • • • • • • • • • • • •
Slide 10: Seed Technologies results including omega 3 net realisable value adjustment
1. Includes a $28m impact from a net realisable value adjustment associated with omega 3 • • • • • • • • • • •
Slide 11: Clear actions to improve profitability, deliver higher returns and de-leverage the balance sheet
Clear actions to improve profitability, deliver higher returns and de-leverage the balance sheet • • • • • • • •
Slide 12: Financial Performance
Financial Performance | Brendan Ryan a. MT) Ass eee — = -— oe > = . ~ _—
Slide 13: Revenue +3% y/y. aNWC to Sales 39%. Leverage at 4.5x
Revenue +3% y/y. aNWC to Sales 39%. Leverage at 4.5x impacted by lower omega 3 earnings and FX translation Refer to Appendix 1 for non-IFRS definitions and disclosures 12 1. uEBITDA and uEBIT for 1H24 restated to exclude Share of net profits/(losses) of equity accounted investees
Slide 14: Net Leverage
Net debt increased 12% YoY. Primarily driven by omega 3 funding, timing on Capex spend and FX translation. Net leverage 4.5x. Excluding omega 3 impacts and weaker AUD, leverage at 1H25 ~3.8x • Net Leverage • • Net debt $m The ABL is secured against Receivables and Inventory and accommodates seasonal
Slide 15: Actions underway to reduce net debt and leverage
Actions underway to reduce net debt and leverage Illustrative path to de-leveraging CONCEPTUAL BUILDING BLOCKS (not to scale) Structural Seasonal • • • Structural • • •
Slide 16: Strong Crop Protection volume growth and positive mix impact
Strong Crop Protection volume growth and positive mix impact • +53M +3% 36 • 99 1,811 1,758 (75) (7) • Seed Seed Tech. 249 Tech. 256 • • CP 1,502 CP 1,562 • • 1H24 CP - Volume CP -Mix CP - Price Seed Tech. 1H25
Slide 17: Operating cash flow reflects the seasonal working capital build
Operating cash flow reflects the seasonal working capital build, with Net working capital down ~$100m YoY • • 16
Slide 18: Net working capital improved ~$100m year on year
Net working capital improved ~$100m year on year. Average net working capital to sales of 39% Trade & Other Receivables Inventories Trade & Other Payables 1,707 1,662 1,560 1,140 1,185 • 863 1,363 1,318 1,323 550 952 1,246 671 668 1,788 1,602 1,464 1,422 1,343 • 1,182 1,166 (772) • (882) (1,077) (1,
Slide 19: Inventory days
Half on half inventory days1 improvement of 22 Days. On target for 25 Year on Year inventory days reduction2 Change in Inventory Days (22) 217 • 195 • Inventory days 170 • • • 1H24 FY24 1H25
Slide 20: Significant lift in Capex from FY22 to support Seed Technologies
Significant lift in Capex from FY22 to support Seed Technologies, plant HSE and growth opportunities. Requirements expected to moderate from 2H FY25 and further into FY26 148 8 110 68 54 72 56 HY24 HY25 PP&E Intangibles Other Investments • • •
Slide 21: Omega-3 update
Omega-3 update Brent Zacharias
Slide 22: Omega-3 update (company estimate)
-15% -15% 1. company estimate • • • • •
Slide 23: Outlook
>) Outlook Greg Hunt
Slide 24: Well positioned, but several uncertainties could impact the second half
Well positioned, but several uncertainties could impact the second half • • • • • • • • • • 1. For forward looking statements refer to the disclaimer on page 2 of this presentation.
Slide 25: Outlook (forward looking statements)
• • • • • • • • • • • 1. For forward looking statements refer to the disclaimer on page 2 of this presentation.
Slide 26: Q&A
Slide 27: Appendices
Appendices 28 “nufarm
Slide 28: Non-IFRS measures
1. Non-IFRS measures have not been subject to audit or review. Refer to the disclaimer on page 2 of this presentation .
Slide 29: Underlying revenue, EBITDA and EBIT by segment
6 months ended 6 months ended Revenue - Underlying 31 Mar 2025 31 Mar 2024 Change Change ($000s) $000 $000 $000 % Crop protection APAC 462,059 458,873 3,186 1% North America 624,156 636,643 (12,487) (2%) Europe 475,443 406,468 68,975 17% Total Crop protection 1,561,658 1,501,984 59,674 4% Seed Techn
Slide 30: Continuing operations: underlying, material items and total
Continuing Operations 6 months ending 31 Mar 2025 6 months ending 31 Mar 2024 Underlying Material items Total Underlying Material items Total $000 $000 $000 $000 $000 $000 Revenue 1,810,881 - 1,810,881 1,758,042 - 1,758,042 Cost of sales (1,278,605) (7,648) (1,286,253) (1,249,903) (26,680) (1,276,58
Slide 31: Material items by category
6 months ended 6 months ended 6 months ended 6 months ended 31 March 2025 31 March 2025 31 March 2024 31 March 2024 $000 $000 $000 $000 pre-tax after-tax pre-tax after-tax Material items by category: Asset rationalisation and restructuring (10,764) (8,714) - - Idle plant capacity - - (26,680) (19,41
Slide 32: Cash flows: underlying, material items and total
Underlying Material items Total group 6 months ended 31 March 2025 $000 $000 $000 Cash flows from operating activities Net operating cash flows (456,695) (2,340) (459,035) Cash flows from investing activities Net investing cash flows (148,073) - (148,073) Cash flows from financing activities Net fin
Slide 33: NWC outflow driven by seasonality
NWC outflow driven by seasonality & first half build than the pcp
Slide 34: Mar 2025 Reported A$ million and exchange rates
6 months ended Mar 2025 Mar 2025 Mar 2024 Constant Reported Constant1 Reported currency A$ million currency % Change Revenue 1,810.9 1,807.5 1,758.0 3% Underlying EBITDA 205.9 206.7 218.6 -5% Underlying EBIT 102.7 104.7 120.6 -13% Average exchange rates HY25 v HY24 A$1 = HY25 HY24 % change USD 0.644
Slide 35: Our Crop Protection pipeline crops, segments and geographies
Our Crop Protection pipeline crops, segments and geographies – selected products 1. The estimated launch year indicated is for the first country. For products launched in more than one country, the estimated launch date may fall in different years 2. This is selected products only and not the comple
Slide 36: Sources
Sources: Prof B Hankamer - Institute for Molecular Bioscience (IMB) UQ | Food & Agricultural Organisation of The United Nations; 35 United Nations Department of Economic & Social Affairs, Population Division: The World Population Prospects (2019), Phillips M