Pure Foods Tasmania : Market update

For personal use only

FY22 MARKET UPDATE

Authorised by the Board.

For personal use only

FINANCIAL HIGHLIGHTS FY22*

Pure Food Tasmania's FY22 revenue up 34% from $7.7 million to $10.4 million.

Tasmanian Pate increased sales to $4 million in FY22. New flavours of Homestead were launched in FY22 including Chicken & Cheddar and Chicken & Chilli. Homestead continues to become a dominant brand in the Australian pate category.

Daly Potato continued strong sales revenue up 37% in FY22 vs FY21 with $2.55 million in sales. This result was supported by increased distribution along with marketing support focusing on Tasmanian-farmed potatoes. Potato & Gravy relaunch is now the focus for Daly in FY23 with the initial launch in Feb 22 exceeding all forecasts.

Woodbridge Smokehouse revenue up 84% from $1.6 million to $2.96 million in FY22 driven by strong IGA and export demand.

The Cashew Creamery plant-basedice cream delivered the largest revenue growth with an increase of 1044% vs FY21, with $467k in revenue. The new distribution arrangements with Woolworths Metro and increased distribution into IGAs have underpinned this large increase in revenue.

Lauds Plant-Based Foods' revenue was up 92% in FY22 vs FY21, with sales revenue of $296k. It continues to invest in new product development with a recent launch of a cashew cream cheese range which has shown strong acceptance in the route market. Other channels including export and

food service continue to be the focus.

+

Pure Foods Tasmania's strong customer base continues to increase with a further 38% increase in active customers in FY22.

*All amounts are unaudited.

*Revenue from Daly, Lauds and Cashew Creamery are PFT ownership.

For personal use only

PURE FOODS TASMANIA OVERVIEW

PFT was formed in 2015 to acquire, grow and develop premium food businesses in Tasmania with a highly experienced board and management team.

Since establishment, PFT has become a Tasmanian hub of premium foods. The company has developed a number of its own brands both organically and through acquisition.

PFT has created broader distribution domestically and via export, including e-commerce in Asia, with strategic partnerships.

CURRENT BRAND PORTFOLIO

For personal use only

PFT'S CUSTOMER BASE CONTINUES TO GROW ACROSS ALL CHANNELS

For personal use only