PGG Wrightson (PGW) investor relations material

Opening remarks and agenda

• The 175th annual shareholders’ meeting was held in person and online; a quorum was confirmed, and shareholders could participate, ask questions, and vote.

• Formal business comprised ordinary resolutions on John Nichol’s election, Mark Allison’s election, and authority for the board to set auditor remuneration.

Financial performance review

• FY26 revenue was NZD 1.1bn, up 10% YoY; operating EBITDA NZD 64.3m, up 15%; NPAT NZD 15.6m, up 46%; operating cash flow NZD 52.6m, up NZD 40.2m.

• Retail & Water revenue reached a record NZD 851.2m, up 10% YoY, with EBITDA of NZD 44.5m, up 6%; Agency revenue was NZD 221.5m, up 10%, with EBITDA of NZD 29m, up 23%.

• Three-year normalized EBITDA growth was 91.4%; average ROCE was 8.1% versus a 10% target; FY26 EPS was 20.6 cents versus a 15.7-cent target.

• FY26 TRIFR fell 3.5% YoY; group NPS rose 111.1% YoY.

• FY27 operating EBITDA guidance is ~NZD 70m; first-quarter trading was encouraging, especially in Retail & Water, with guidance to be reassessed after the key second-quarter trading months.

Board and executive committee updates

• John Nichol rejoined the board as an independent director on 14 October 2025 and became chair on 16 October, after shareholders voted against the prior chair’s and independent chair’s re-election at the 2025 AGM.

• Mark Allison joined the board as a non-independent director on 1 July 2026; the board cited his agribusiness experience and association with substantial security holders.

• CFO Peter Scott was due to leave at the end of October after more than 11 years; Brian Harrison was appointed CFO from 1 November, and Angela Huntley will join the executive team in November as GM Business Services & Technology.