Wesfarmers : 2022 Half-year Report incorporating Appendix 4D

For personal use only

16 February 2022

The Manager

Company Announcements Office

Australia Securities Exchange

Dear Manager,

HALF-YEAR REPORT TO 31 DECEMBER 2021

In accordance with ASX Listing Rule 4.2A, attached is the 2022 Half-year Report (incorporating Appendix 4D).

It is recommended that the report be read in conjunction with the Annual Financial Report of Wesfarmers Limited for the period ended 30 June 2021, together with any public announcements made by Wesfarmers Limited in accordance with its continuous disclosure obligations arising under the Corporations Act 2001.

An analyst briefing will be held at 10:00am AWST / 1:00pm AEDT on Thursday 17 February 2022. This briefing will be webcast and is accessible via our website at www.wesfarmers.com.au.

Yours faithfully,

Vicki Robinson

Executive General Manager

Company Secretariat

This announcement was authorised to be given to the ASX by the Wesfarmers Limited Board.

For personal use only

Half-year Report 2022

INCORPORATING APPENDIX 4D

For the six months ended 31 December 2021

It is recommended that the 2022 Half-year Report is read in conjunction with the annual financial report of Wesfarmers Limited as at 30 June 2021, together with any public announcements made by Wesfarmers Limited and its controlled entities during the half-year ended 31 December 2021 in accordance with the continuous disclosure obligations arising under the Corporations Act 2001.

Wesfarmers Limited ABN 28 008 984 049

For personal use only

The primary objective of Wesfarmers is to provide a satisfactory return to shareholders.

We believe it is only possible to achieve this over the long term by:

	anticipating the needs of				looking after our team				engaging fairly with our
	our customers and				members and providing				suppliers, and sourcing
	delivering competitive				a safe, fulfilling work				ethically and sustainably
	goods and services				environment

	supporting the				taking care of the				acting with integrity and
	communities in which we				environment				honesty in all of our
	operate								dealings

About Wesfarmers

From its origins in 1914 as a Western Australian farmers' cooperative, Wesfarmers has grown into one of Australia's largest listed companies. With headquarters in Perth, Wesfarmers' diverse business operations cover: home improvement, outdoor living and building materials; general merchandise and apparel; office and technology products; manufacturing and distribution of chemicals and fertilisers; industrial and safety product distribution; and gas processing and distribution. Wesfarmers is one of Australia's largest private sector employers with approximately 122,000 team members (including more than 3,750 Indigenous team members) and is owned by more than 494,000 shareholders.

About this report

This Half-year Report is a summary of Wesfarmers' and its subsidiary companies' operations and financial positions as at 31 December 2021 and performance for the half-year ended on that date.

In this report references to 'Wesfarmers', 'the company', 'the Group', 'we', 'us' and 'our' refer to Wesfarmers Limited (ABN 28 008 984 049) unless otherwise stated.

References in this report to 'the half' or 'half-year' are to the financial period 1 July 2021 to 31 December 2021 unless otherwise stated. The prior corresponding period (pcp) is the half-year ended 31 December 2020.

All dollar figures are expressed in Australian dollars (AUD) unless otherwise stated.

References to AASB refer to the Australian Accounting Standards Board and IFRS refers to the International Financial Reporting Standards. There are references to IFRS and non-IFRS financial information in this report. Non-IFRS financial measures are financial measures other than those defined or specified under any relevant accounting standard and may not be directly comparable with other companies' information. Non-IFRS financial measures are used to enhance the comparability of information between reporting periods. Non-IFRS financial information should be considered in addition to, and is not intended to be a substitute for, IFRS financial information and measures. Non-IFRS financial measures are not subject to audit or review.

Wesfarmers Limited 2022 Half-year Report

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For personal use only

Table of contents

1. Appendix 4D
2. Directors' Report
3. - Review of results and operations

14	- Divisional performance overview

1. - Auditor's independence declaration
2. Financial Statements

1. Directors' Declaration
2. Independent auditor's review report to the members of Wesfarmers Limited

47 Additional Disclosures

47	- 2022 Half-year retail sales results

1. - Store network
2. - Five-year history - financial performance and key metrics

1. - Glossary of terms
2. Corporate directory

Appendix 4D

For the half-year ended 31 December 2021

Results for announcement to the market

Revenue from ordinary activities		down 0.1% to $17,758 million
Net profit for the period attributable to members		down 12.7% to $1,213 million
Interim dividend (fully-franked) per share		80 cents (2020: 88 cents)
Record date for determining entitlements to the interim dividend		5:00pm (AWST) 23 February 2022
Payment date for interim dividend		30 March 2022
Net tangible assets per ordinary share1		$3.35 (2020: $5.08)
Operating cash flow per share		$1.37 (2020: $1.96)

1 The calculation of net tangible assets per ordinary share includes right-of-use assets and lease liabilities.

Dividend Investment Plan

The company operates a Dividend Investment Plan (the Plan) which allows eligible shareholders to elect to invest dividends in ordinary shares which rank equally with Wesfarmers ordinary shares. The allocation price for shares under the Plan will be calculated as the average of the daily volume weighted average price of Wesfarmers ordinary shares on each of the 15 consecutive trading days from and including the third trading day after the record date of 23 February 2022 for participation in the Plan, being 28 February 2022 to 18 March 2022.

The latest time date for receipt of applications to participate in or to cease or vary participation in the Plan is by 5:00pm (AWST) on 24 February 2022. The Directors have determined that no discount will apply to the allocation price and the Plan will not be underwritten. It is the Company's expectation that shares to be allocated under the Plan will be acquired on-market and transferred to participants on 30 March 2022. A broker will be engaged to assist in this process.

Further information

Further information to assist in the understanding of the above is provided throughout this Half-year Report.

Wesfarmers Limited 2022 Half-year Report

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Directors' Report

The directors of Wesfarmers Limited submit their report for the half-year ended 31 December 2021.

For personal use only

Directors

Except as otherwise stated below, the names of the directors in office during the half-year reporting period 1 July 2021 to 31 December 2021 and as at the date of this report are shown below.

M A Chaney AO	(Non-Executive Chairman)
R G Scott	(Group Managing Director)
W G Osborn	(Non-Executive Director - retired 21 October 2021)
V M Wallace	(Non-Executive Director)
J A Westacott AO	(Non-Executive Director)
S W English KNZM	(Non-Executive Director)
M Roche	(Non-Executive Director)
S L Warburton	(Non-Executive Director)
A Sabharwal	(Non-Executive Director)
A M Watkins AM	(Non-Executive Director - from 1 September 2021)
A J Cransberg	(Non-Executive Director - from 1 October 2021)

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