TasFoods : Notice of 2022 Annual General Meeting

54 Tamar St, Launceston.

PO Box 425, Launceston, TAS, 7250. [phone]

ABN 53 084 800 902 ACN 084 800 902

28 April 2022

Dear Shareholders

2022 Annual General Meeting

It is my pleasure to invite you to attend the 2022 Annual General Meeting (Meeting) of TasFoods Limited (TasFoods).

The Meeting will be held at Hotel Grand Chancellor Launceston, 29 Cameron St, Launceston, Tasmania on Monday, 30 May 2022, commencing at 11.00am (AEST). Registration will be available from 10.30am (AEST).

Shareholders who plan to attend the Meeting should take heed of government warnings and advice and monitor TasFoods website for any updates about the Meeting, including the format and location of the meeting. Any changes will be announced on the Tasfoods website and to the ASX.

TasFoods will not be sending physical copies of the Notice of Meeting and Explanatory Memorandum (Notice Material) unless a Shareholder has requested a hard copy. Instead, the Notice Material is being made available to shareholders electronically. This means that:

• • A copy of the Notice Material can be viewed and downloaded at the Company's website atwww.tasfoods.com.au/document_category/meetings/#investor_nav

• • A copy of the Notice Material will also be available on the Company's ASX Market announcement page atwww.asx.com.au under the Company's ticker code TFL

• • If you have provided an email address and have elected to receive electronic communications from the Company, you will receive an email to your nominated email address with a link to an electronic copy of the Notice Material

• • If you have requested a hard copy of the Notice Material, you will receive a hard copy which will be sent to your address as set out in the TasFoods register of members.

The Meeting is an opportunity for shareholders to share their views directly with the Board and Executive team, and to hear from Board members about this years' performance, as well as plans for the future.

The Board recognise the importance of ensuring that all shareholders are provided with an opportunity to vote on resolutions, and are given a voice proportionate to their ownership. Voting will be conducted by way of a poll for all resolutions, to reflect the wishes of shareholders who attend the Meeting as well as those voting by proxy. Further details of the polling procedure will be explained at the Meeting.

A voting/proxy form is included with this letter. The voting/proxy form contains a barcode to assist with the registration process at the Meeting. If you attend the Meeting, please bring this

barcoded voting/proxy form with you. If you are not attending the Meeting, the voting/proxy form allows you to either lodge your vote directly or appoint a proxy to vote on your behalf.

Please refer to the Notice Material for more information.

If you are unable to attend the Meeting, you can view a webcast live on-line or a recording after the conclusion of the Meeting on our website atwww.tasfoods.com.au.

If you cannot attend the Meeting, but would like to submit questions to the Company or the auditor, on any shareholder matters that may be relevant to the Meeting, you can do so by email [e-mail]

While time may not permit me to address all the questions submitted, I will try, during the course of the Meeting, to address the more frequently raised shareholder matters.

The Board and Executive team invite shareholders to join them in enjoying some of TasFoods' premium products which will be served at the conclusion of the Meeting.

Yours sincerely,

Craig Treasure

Chairman

TasFoods Limited

Notice of Annual General Meeting

Notice is hereby given that the Annual General Meeting of the shareholders of TasFoods Limited (ACN 084 800 902) (Company) will be held at:

Time:	11.00am AEST
Date:	Monday, 30 May 2022
Place:	29 Cameron St, Launceston, Tasmania (Hotel Grand Chancellor Launceston)

IMPORTANT NOTES

• 1. Registration will commence at 10.30am AEST.

• 2. Discussion will take place on all items of business set out below.

• 3. The Explanatory Memorandum provides further information relating to the items of business.

• 4. As explained in the 'voting exclusion statement' on pages 9 to 16, certain shareholders are excluded from voting in relation to particular resolutions and TasFoods must disregard any votes cast by those shareholders. Please do not vote if your vote must be disregarded.

AGENDA

Financial Reports

To receive and consider the accounts of the Company, the Financial Report, the Directors' Report and the Auditor's Report prepared in accordance with the requirements of the Corporations Act 2001 (Cth) (Corporations Act) for the year ended 31 December 2021.

ORDINARY BUSINESS

Resolution 1: Adoption of Remuneration Report

To consider and, if thought fit, pass the following resolution as an advisory resolution:

"That the Remuneration Report for the Company and its controlled entities for the year ended 31 December 2021 be approved and adopted."

A voting exclusion statement applies to this Resolution as set out in this Notice of Meeting.

Please Note - The vote on this resolution is advisory only and does not bind the Directors or the Company. TasFoods values shareholder feedback and the Board and the Board Nomination and Remuneration Committee will take the outcome of the vote into account whenconsidering future remuneration policies

Resolution 2: Election of Director - Mr John O'Hara

To consider and, if thought fit, pass the following resolution as an ordinary resolution:

"That Mr John O'Hara, who was appointed as Director by the Board on 23 June 2021 and retires in accordance with Clause 7.1(e) of the Company's Constitution, and being eligible, be elected as a Director of the Company."

Details of Mr O'Hara are set out in the Explanatory Memorandum to this Notice of Meeting.

Resolution 3: Election of Director - Mr John Murphy

To consider and, if thought fit, pass the following resolution as an ordinary resolution:

"That Mr John Murphy, who was appointed as Director by the Board on 23 June 2021 and retires in accordance with Clause 7.1(e) of the Company's Constitution, and being eligible, be elected as a Director of the Company."

Details of Mr Murphy are set out in the Explanatory Memorandum to this Notice of Meeting.

Resolution 4: Approval of the TasFoods Limited Rights Plan (TLRP)

To consider and, if thought fit, pass the following resolution as an ordinary resolution:

"That approval is given for the purposes of ASX Listing Rule 7.2 Exception 13, the Corporations Act section 260C(4) and for all other purposes, the TasFoods Limited Rights Plan (the TLRP or Plan) and any grants of Rights (as defined in the Plan) and Shares (ordinary shares in the Company) or Restricted Shares (Shares subject to disposal restrictions) that result from the exercising of Rights under the TLRP, as well as any potential financial assistance resulting from the operation of the TLRP issued under the Plan, be approved."

Given their potential interest in Resolution 4, Directors make no recommendation to shareholders with respect to this resolution.

A voting exclusion statement applies to this Resolution as set out in this Notice of Meeting.

Resolution 5(a) - Approval for the Granting of Share Appreciation Rights to a Director - Craig Treasure, Non-executive Director

To consider and, if thought fit, to pass the following Resolution as an ordinary resolution:

"That approval is given for the purposes of ASX Listing Rule 10.14 and all other purposes, for the issue of 2,365,801 Share Appreciation Rights to Craig Treasure, Non-executive Director of the Company under the Tasfoods Limited Rights Plan. The proposed grant is to be made in respectof an exchange of future cash fees for a future grant of Share Appreciation Rights, on the terms and conditions described in the Explanatory Notes to this Notice of Meeting."

A voting exclusion statement applies to this Resolution as set out in this Notice of Meeting.

Resolution 5(b) - Approval for the Granting of Share Appreciation Rights to a Director - John Murphy, Non-executive Director

To consider and, if thought fit, to pass the following Resolution as an ordinary resolution:

"That approval is given for the purposes of ASX Listing Rule 10.14 and all other purposes, for the issue of 2,106,061 Share Appreciation Rights to John Murphy, Non-executive Director of the Company under the Tasfoods Limited Rights Plan. The proposed grant is to be made in respect of an exchange of future cash fees for a future grant of Share Appreciation Rights, on the terms and conditions described in the Explanatory Notes to this Notice of Meeting."

A voting exclusion statement applies to this Resolution as set out in this Notice of Meeting

Resolution 5(c) - Approval for the Granting of Share Appreciation Rights to a Director - John O'Hara, Non-executive Director

To consider and, if thought fit, to pass the following Resolution as an ordinary resolution:

"That approval is given for the purposes of ASX Listing Rule 10.14 and all other purposes, for the issue of 2,106,061 Share Appreciation Rights to John O'Hara, Non-executive Director of the Company under the Tasfoods Limited Rights Plan. The proposed grant is to be made in respect of an exchange of future cash fees for a future grant of Share Appreciation Rights, on the terms and conditions described in the Explanatory Notes to this Notice of Meeting."

A voting exclusion statement applies to this Resolution as set out in this Notice of Meeting.

Resolution 5(d) - Approval for the Granting of Share Appreciation Rights to a Director - Ben Swain, Non-executive Director

To consider and, if thought fit, to pass the following Resolution as an ordinary resolution:

"That approval is given for the purposes of ASX Listing Rule 10.14 and all other purposes, for the issue of 2,106,061 Share Appreciation Rights to Ben Swain, Non-executive Director of the Company under the Tasfoods Limited Rights Plan. The proposed grant is to be made in respect of an exchange of future cash fees for a future grant of Share Appreciation Rights, on the terms and conditions described in the Explanatory Notes to this Notice of Meeting."

A voting exclusion statement applies to this Resolution as set out in this Notice of Meeting.