Woolworths : Appendix 4D and Half-Year Financial Report

24 February 2021

ASX Market Announcements Office Australian Securities Exchange

20 Bridge Street

Sydney NSW 2000

Appendix 4D and Half-Year Financial Report

Attached for release to the market are the ASX Appendix 4D and the F21 Half-Year Financial Report for the period ended 3 January 2021.

Authorised by: M​ ichelle Hall, Company Secretary

For further information contact:

Media: W​ oolworths Group Press Office: [phone] m​[e-mail] Investors and Analysts: P​ aul van Meurs, Head of Investor Relations: [phone]

Woolworths​ Group Limited A​ BN​ 88 000 014 675

1 Woolworths Way, Bella Vista NSW 2153

Current reporting period

Prior corresponding period

RESULTS FOR ANNOUNCEMENT TO THE MARKET

Key information

% CHANGE	$M
Total revenue from continuing operations	10.6	to	35,845
Profit from continuing operations after tax attributable to equity holders of the parent entity	28.0	to	1,135
Profit attributable to equity holders of the parent entity	28.0	to	1,135
Details relating to dividends 1
CENTS PER SHARE	$M
2020 final dividend paid 6 October 2020	48	606
2021 interim dividend declared on 24 February 2021 2,3	53	671 4

• 1 All dividends are fully franked at a 30% tax rate.

• 2 Record date for determining entitlement to the 2021 interim dividend is 5 March 2021.

• 3 The 2021 interim dividend is payable on or around 14 April 2021, and is not provided for at 3 January 2021.

• 4 Represents the anticipated dividend based on the shares on issue at the date of this report. This value will change if there are any shares issued between the date of this report and the ex-dividend date.

The Dividend Reinvestment Plan (DRP) remains active. Eligible shareholders may participate in the DRP in respect of all or part of their shareholding. There is currently no DRP discount applied to the dividend and no limit on the number of shares that can participate in the DRP.

Shares will be allocated to shareholders under the DRP for the 2021 interim dividend at an amount equal to the average of the daily volume weighted average market price of ordinary shares of Woolworths Group Limited traded on the Australian Securities Exchange (ASX) over the period of 10 trading days commencing on 9 March 2021. The last date for receipt of election notices for the DRP is 8 March 2021. The Company intends to issue new shares to satisfy its obligations under the DRP.

NET TANGIBLE ASSETS PER SHARE

AS AT

3 JANUARY 2021	RESTATED 1 28 JUNE 2020 5 JANUARY 2020
Net tangible assets per share	127.5	81.0 103.9

1

Restated for the re-presentation of software from property, plant and equipment to intangible assets.

DETAILS OF SUBSIDIARIES, ASSOCIATES, AND JOINT VENTURES

Entities where control was gained or lost

During the half-year ended 3 January 2021, the following entities were incorporated: W23 Incubator Pty Limited (3 August 2020), Macro Wholefoods Company Pty Limited (1 September 2020), Woolworths Group Payments Pty Limited (10 December 2020), WPay Pty Limited (11 December 2020), Point Gate Developments Pty Limited (24 December 2020), and Point Gate Properties Pty Limited (24 December 2020).

Details of associates and joint ventures

OWNERSHIP INTEREST AS AT

The Quantium Group Holdings Pty Limited

SouthTrade International Pty Ltd

B & J City Kitchen Pty Ltd Sherpa Pty Ltd

3 JANUARY 2021	28 JUNE 2020 5 JANUARY 2020
Pet Culture Group Pty Limited 1	60.0%	- -
173 Burke Rd JV Pty Ltd 1	50.1%	- -
The Quantium Group Holdings Pty Limited	47.2%	47.2% 47.3%
SouthTrade International Pty Ltd 2	-	- 25.0%
B & J City Kitchen Pty Ltd	23.0%	23.0% 23.0%
Sherpa Pty Ltd 3	20.8%	20.4% 20.4%
FutureFeed Pty Ltd	20.4%	- -

• 1 The Group does not exercise control over this entity notwithstanding that its ownership interest is greater than 50%.

• 2 On 26 May 2020, Woolworths Group Limited disposed of its 25% ownership in SouthTrade International Pty Ltd.

• 3 In previous reporting periods, the Group accounted for its investment in this entity as an equity investment as it did not exercise significant influence over this entity. In H1 F21, the Group increased its shareholding in this entity, which triggered a reassessment of the Group's ability to exercise significant influence, resulting in a change in classification of this entity from an equity investment to an investment in associate.

OTHER

Additional Appendix 4D disclosure requirements and further information, including commentary on significant features of the operating performance, results of segments, trends in performance, and other factors affecting the results for the current period, are contained in the Half-Year Financial Report 2021, and Press Release (2021 Half-Year Results Announcement).

The Consolidated Financial Statements contained within the Half-Year Financial Report 2021, upon which this report is based, have been reviewed by Deloitte Touche Tohmatsu.

Woolworths Group Limited ABN 88 000 014 675

HALF-YEAR FINANCIAL REPORT 2021