Pure Foods Tasmania : Trading Update

P u r e

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F o o d s T a s m a n i a L i m i t e d ( A S X : P F T )

Y T D S A L E S T O J A N 3 1

F Y 2 2 U P D A T E

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Financial YTD sales to January 31, 2022 up 72%

from $3.88M in FY21 to $6.68M in FY22

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PFT FY22 YTD HIGHLIGHTS - JANUARY 31

PURE FOODS TASMANIA LTD (ASX:PFT) ('PFT' OR 'THE COMPANY') IS PLEASED TO PROVIDE AN UPDATE ON ITS RECENT TRADING ACTIVITIES.

HIGHLIGHTS

Financial YTD sales to January 31, 2022 up 72% from $3.88M in FY21 to $6.68M in FY22.

The Daly Potato Company Potato & Gravy's first orders have exceeded all expectations with sales forecast ex factory annualised to be $2.5m for Queensland & Tasmanian sales. We will be expanding our distribution to other states in due course.

The Daly Potato Company's base business has experienced a large sales growth of 83% YTD to January 31, 2022 v PCP (from $0.92M to $1.69M).

Tasmanian Pate also continues to perform well with YTD sales to January 31, 2022 up 21% versus same period in FY21 (from $2.13M to $2.58M). This is driven by the continued success of Homestead Premium Pate.

Strong demand for Woodbridge Smokehouse products continues with YTD sales to January 31, 2022 up 156% versus same period in FY21 (from $0.76M to $1.96M).

The Cashew Creamery is experiencing robust growth with products now available in Woolworths Metro stores. YTD sales to January 31, 2022 are up 125% versus the same period in FY21 (from $101,135 - under prior ownership - to $227,139).

Distribution of our premium Tasmanian product to our network of over 2,900 active stockists is proceeding at normal operational levels. This allows the Company to continue to meet growing customer demand.

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"We are exceptionally pleased to continue to deliver revenue growth and momentum within our business. Our expanded manufacturing facilities continue to operate at full capacity to meet customer demand and importantly, I am exceptionally pleased that our Potato and Gravy product is now available to consumers. The process to get to this point has not been without challenges, but we now have a high-quality product and a significant market opportunity before us. We look forward to updating the market as we expand this product interstate and across platforms and major retailers."

Michael Cooper, Managing Director and CEO

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This announcement has been authorised and approved by the Board of PFT.

For further information, please contact: Corporate

Michael Cooper Managing Director [e-mail][phone]