Annual Meeting Presentation

EBOS Group Limited NZBN 9429031998840
Level 7, 737 Bourke Street, Docklands, Victoria 3008, Australia
PO Box 7300, Melbourne, Victoria 8004, Australia
Phone: +61 3 9918 5555, Fax: +61 3 9918 5599
www.ebosgroup.com





13 October 2020
NZX/ASX Code: EBO




EBOS ANNUAL MEETING 2020


Please see attached the Chair's speech, CEO's speech and presentation materials for the Annual
Meeting of shareholders to be held today.





Authorised for lodgement with NZX and ASX by the Board




For further information, please contact:
Martin Krauskopf
General Manager, M&A and Investor Relations
EBOS Group Limited
+61 402 026 060

1

EBOS Group Limited
Chair’s Address to the Annual Meeting
13
th
October 2020
I have pleasure in reporting on the 2020 financial year at this the 98
th
Annual Meeting of
EBOS Group Limited and providing an update on the latest developments occurring within
EBOS.
The past nine months have been dominated by the COVID-19 pandemic, the effects of which
will continue to be felt for some time to come. This global health crisis has had significant
economic consequences for many countries and communities and in these unprecedented
times EBOS is fortunate to be an industry leader of scale, operating in markets where the
majority of our products and services are essential items.
Our businesses, despite these challenges, have been able to continue to operate largely
unimpeded during the pandemic reflecting the strength of our business model and the
commitment we have to serve our customers and communities, while at the same time
generating strong growth.
EBOS has for many years, including 2020, operated under a disciplined strategy of:
1. Investing for growth – both organic and acquisitions through disciplined investments
in Healthcare and Animal care;
2. Continuing to protect, build or acquire leading market positions in a range of
Healthcare and Animal care sectors so as to maximise revenue growth; and
3. Focusing on generating strong operating cash flows to allow further investment and
improved returns to shareholders.
The strategic direction of EBOS is both proven and sound. It has driven significant returns for
shareholders over many years and we are confident that the business will continue to deliver
future growth.
Throughout this COVID-19 pandemic the safety, employment and well-being of our
employees has been our priority and in the emerging stages of this crisis, EBOS formed a
Pandemic Response Team (PRT) consisting of the CEO and key executives. The PRT has the
structures in place to rapidly identify and evaluate issues, the authority to make decisions to
minimise the risks related to COVID-19 and provide guidance and support to all our
employees.
Following the advice and direction of the local health authorities the PRT has, and will
continue to implement, all required measures in response to developing situations. To date
these measures have included the introduction of strict travel restrictions for all employees,
banning external visitors to EBOS offices, locking down all critical warehouse sites with only
employees and essential contractors allowed on site, and the introduction of additional
hygiene, social distancing, health monitoring and cleaning practices across all sites and
offices.
Specific protocols were also developed for the management of a confirmed case of COVID-19
at a site or office, and back-up plans were developed should a senior executive of EBOS be
unable to work due to COVID-19. Regular internal communications for all employees updating

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them on developments, issuing personal safety and protection messages and providing advice
around mental health and wellbeing for both employees and their families were also
implemented.
With the introduction of working from home, EBOS ensured all those impacted had the
resources and equipment required for their home office. In addition, support was provided
to employees on how to manage their daily working life as best as possible.
In New Zealand and Australia, many businesses have been faced with very challenging
decisions regarding their workforce. We have been fortunate that we have not had to
implement workforce reductions in either country.
As the largest healthcare and animal care company in New Zealand and Australia, EBOS
acknowledges that we have significant responsibilities as a leading corporate citizen to
manage our business in a manner that reflects the expectations of our communities. During
the year EBOS commenced the implementation of a formal Environmental, Social and
Governance (ESG) program to set out EBOS’ standards for responsible corporate practice and
formalise the measures we have that ensure we will maintain our social licence to operate.
More so than at any time in the past, corporate organisations need to be acutely aware of the
responsibilities they have to the community. Equally, there is a growing expectation that
organisations will adopt a formal approach to delivering and managing these responsibilities.
EBOS already undertakes a wide variety of initiatives that fall within the ESG framework;
however, the purpose of undertaking a formal, structured ESG program is to ensure all of this
activity is consolidated and can be accurately reported on. This will help ensure our approach
remains aligned to the objectives set out in the framework and that we continue to meet the
expectations of all our stakeholders in being responsible corporate citizens.
Under the ESG framework, the Board sets out three key areas of focus being:
- Environment - EBOS’ performance as a steward of nature;
- Social – Management of relationships with stakeholders and the community; and
- Governance - How EBOS is governed.
The ESG framework will be guided by an ESG Steering Committee, which will work to identify
and assess our current performance across these areas and set out recommended targets
that are measurable and achievable.
Specific to our Australian operations, EBOS’ has also recently launched its first Reconciliation
Action Plan (RAP) as we seek to embed greater organisational understanding and awareness
of Australia’s First Peoples. John will cover this important initiative in his presentation.
In our most recent Employee Engagement Survey, we were particularly pleased to see strong
results in the areas of safety in the workplace, care for the wellbeing of employees and pride
in working for EBOS. This year we also asked for more specific feedback on the senior
leadership team and the direction of the business with 78% (which is 17% above benchmark)
of our employees having a high degree of confidence in the leadership and direction of EBOS.
It is rewarding to have this endorsement in the direction we are taking and in our leadership
team.
Acting on feedback from our employees, in February this year EBOS invited employees to
participate in an Employee Share Plan. Over 1,650, or 52%, of eligible employees accepted

3

the invitation to become EBOS shareholders and benefit from the success of our company.
We will continue to offer this initiative to all existing and future employees.
The challenges of 2020 have brought out the very best in our employees and the Board could
not be prouder of the unwavering commitment displayed in the face of exceptional
circumstances and often restrictive conditions. Importantly, the work of our employees over
the past 12 months has further highlighted the critical role we play as an integral part of the
healthcare systems in both New Zealand and Australia.
We are fortunate to have a very strong leadership team and I would like to thank John and
his executive team for the outstanding leadership they have shown throughout this most
extraordinary year. To each and every one of our employees, on behalf of the Board I would
like to convey our sincere appreciation for their commitment and drive to achieve our
operational and financial goals and showcase the strength of this great company.
We continued to maintain a very stable and diverse Board and during the year the Board
appointed Nick Dowling as a new independent non-executive director. Nick’s appointment
took effect from 1 February 2020 and he is seeking re-election by shareholders today. This
continued the Board’s renewal process and we had intended to make further progress by
adding another independent director during the year however, the outbreak of COVID-19
made this task very difficult. We are anticipating that as the situation stabilises we will be in
a position to continue with this Board renewal process. We acknowledge that many of our
directors, including myself, have significant periods of tenure as directors of the company. In
our view it is this stability of the Board that has been a significant factor in the company’s
successful growth over many years.
In relation to gender diversity, the EBOS Board consists of 33.3% female representation
including myself as Chair. The current EBOS Executive Leadership Team also has 33.3% female
representation whilst across the wider organisation females make up 58% of total employees.
We are pleased with our record financial performance in 2020 and, in line with our strategy,
we will continue to look for investment opportunities that will contribute to our ongoing
growth and expansion.
The Directors announced a final dividend of NZ 40.0 cents per share, which takes full-year
dividends to NZ 77.5 cents per share, an increase of 8.4% on the prior year.
While I acknowledge that there will be ongoing uncertainty in the world for some time to
come we do have confidence that our robust business model and appetite for growth will
allow us to continue to take sensible commercial risks in line with our stated strategies and
provide continued improved returns for shareholders.
We look forward to the challenges of the future and thank all of our shareholders for their
ongoing support and trust in the Board, executive and employees of EBOS.
I will now hand over to John for a more in depth review of the operational performance of
the business.

Thank you.

1

EBOS Group Limited
CEO’s Address to the Annual Meeting
13
th
October 2020

Thank you Chair and good afternoon ladies and gentleman.
Whilst it is disappointing that I cannot be with you in Christchurch its very pleasing to be able
to report to you on the performance of our company for the 2020 financial year as well as
update you on current trading conditions.
The strong results recorded by EBOS in FY20 are particularly pleasing in that as a provider of
essential healthcare and consumer products and part of the region’s critical medical supply
chain, we have remained operational throughout the COVID-19 pandemic and have
continued to serve our customers and provide continued employment to our employees.
Looking at the financial results, EBOS’ revenue increased to $8.8 billion, up 26.5% on the prior
year, benefiting from growth across both of our primary segments. Underlying Earnings
Before Net Finance Costs, Tax, Depreciation and Amortisation (EBITDA) of $296.6 million grew
by $34.9 million representing an increase of 13.4%. Reported EBITDA of $333.6 million was
significantly higher than last year by $83.2 million, although this increase included a $39.6
million benefit from the introduction of the new accounting standard for leases.
Underlying Net Profit After Tax (NPAT) attributable to shareholders increased by 16.5% to
$168.3 million. Reported NPAT increased by $24.8 million or 18.0% from the prior year to
$162.5 million.
Each business contributed to the substantial growth in revenue which again reinforces the
strength of our diverse portfolio of businesses. We hold market leading positions in stable,
defensive industries and have a very strong balance sheet. These attributes have held us in
very good stead during these unpredictable times.
Our Community Pharmacy business recorded a very strong performance reflecting the
benefits from increased scale as we successfully commenced wholesale distribution of
medicines to the Chemist Warehouse group of stores. Our Healthcare business was supported
by strong performances in our Institutional Healthcare and Contract Logistics businesses. The
Animal Care business also delivered another year of strong performance.
We were pleased to see the growth achieved within our TerryWhite Chemmart (TWC)
network and we are confident we can build upon this growth in the current financial year.
The TWC business has now re-established itself as the leading brand within the premium
channel for community pharmacy health services..
I am also pleased to report that TWC has accelerated its network growth with an additional
16 pharmacies signed in just the first 3 months of this financial year.
What is also pleasing to note is the number of unprompted requests we are receiving to join
the TWC network as its broad range of customer and value initiatives are being recognised
by pharmacy owners.

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EBOS’ Healthcare business experienced unprecedented demand during March 2020, in
response to COVID-19 developments. To put this in some context, during this time, our
Australian wholesaling business Symbion, along with the other members of the National
Pharmaceutical Services Association (NPSA), distributed more than 70 million PBS medicines
across Australia which was up by 70% when compared with the same time last year.
EBOS’ significant investment over recent years in its Australian wholesale distribution
network positioned us very well to meet this increased demand. During this same period, the
Animal Care business also continued to make a strong contribution to our financial
performance.
Following this surge in demand, our businesses generally experienced lower levels of trading
activity during the final quarter of 2020, as a consequence of government COVID-19 control
measures. However, given the essential nature of our product offering, our sales volumes
remained relatively resilient and trading conditions generally returned to normal levels in
June.
Overall, the net financial impact from COVID-19 was broadly neutral to EBOS in FY20.
I would now like to provide you with a closer look at the financial performance of both our
Healthcare and Animal Care businesses.
The Healthcare business reported a 27.4% increase in revenue above last year which
contributed to a 14.8% increase in underlying EBITDA.
In Australia, Healthcare revenues increased by $1.7 billion (+33.1%) and underlying EBITDA
increased 19.6%, underpinned by the performances of our Community Pharmacy,
Institutional Healthcare and Contract Logistics businesses.
New Zealand’s Healthcare revenue grew by 8.5%, however, underlying EBITDA was affected
by cost increases in labour and freight and softer overseas demand for our consumer products
portfolio which was negatively impacted by regulatory changes related to the daigou export
channel.
Looking at Animal Care, the business recorded an increase of 8.3% in underlying EBITDA for
the year, continuing its momentum of solid growth.
Animal Care revenue of $425.1 million, representing an increase of $43.1 million (+11.3%),
was attributable to sales growth from our branded products and higher sales volumes within
our Australian veterinary wholesale business. Lyppard’s sales growth was due to both
customer growth and gains in market share.
The strong increase in sales of our key brands, Black Hawk, 12.3%, and Vitapet, 15.1%, was
achieved on the back of continued investment in brand awareness across both Australia and
New Zealand.
In line with EBOS’ strategy of generating strong cash flows, we have again been able to
continue investing for growth whilst also increasing dividends to shareholders.

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The benefits of our capital expenditure initiatives were also reinforced with our Contract
Logistics business continuing to grow and attract new customers thanks to recently opened
facilities in both Sydney and Auckland.
In 2020, we continued with our acquisition strategy and in October 2019, we announced the
acquisition of LMT/National Surgical Group for $34.0 million. This acquisition represented a
beachhead investment into the $8 billion Australia and New Zealand medical devices sector.
In its first year operating within EBOS, LMT contributed to our strong performance despite
the temporary cessation of elective surgeries from late March as a result of COVID-19.
We are very confident of building our devices business into a market leader in the years to
come and today we are announcing a further addition to this business unit with our
agreement to acquire Cryomed Aesthetics for an initial purchase price of a $14.1 million.
Cryomed is the leading independent distributor of aesthetic device and consumable products
in Australia and it is a market that has high growth rates. The acquisition is expected to be
completed by the end of October and will add another important product category to our
growing devices business.
Shareholders can expect to see EBOS undertake further acquisitions in the devices market as
we target those therapeutic areas we believe will provide the best returns for our investment.
Due to prudent capital management and our focus on generating operating cash flow, EBOS
has a very strong balance sheet with significant gearing headroom of approximately $400–
$450 million. EBOS intends to continue to pursue value accretive acquisitions and investments
aligned to our growth strategy as we continue to build upon our Healthcare and Animal Care
businesses.
As I stated at last year’s Annual Meeting, we operate in highly competitive and regulated
markets, therefore it was pleasing that in June 2020, the 7th Australian Community Pharmacy
Agreement was finalised. The agreement provides regulatory certainty for our Healthcare
business in Australia with additional investment in the Community Service Obligation (CSO)
Funding Pool and a restructured wholesale mark-up for Pharmaceutical Benefits Scheme
(PBS) medicines. We are pleased that, through this agreement, the Australian Government
has recognised both the vital role of retail pharmacy in meeting the community’s health needs
as well as the critical role CSO wholesalers play in ensuring the timely distribution of
medicines across Australia.
As Australia’s leading pharmaceutical wholesaler, we are very grateful to the Australian
Federal Minister for Health, The Hon. Greg Hunt MP, and his Department for their recognition
of the importance of our industry to Australia’s medicine supply chain and their careful
consideration of the many issues leading to this agreement.
EBOS is committed to ensuring its behaviour and actions have a positive impact on the
communities where it operates. With the significant challenges facing New Zealand and
Australia, EBOS has been active in supporting communities locally and abroad as they dealt
with major crises.
In December 2019, the volcanic island Whakaari (White Island) erupted, tragically claiming
the lives of 21 people and injuring 26 others.

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As a key partner in the New Zealand healthcare supply chain, EBOS’ hospital distribution
business Onelink, had a critical role to play in responding to this disaster. Onelink worked in
conjunction with local health authorities to provide emergency specialised burns dressings
and theatre supplies required to treat the injured.
Just a few months prior to the Whakaari eruption, EBOS was called on to support the fight
against a measles outbreak in New Zealand that also affected communities in Samoa.
In New Zealand, EBOS played a key role in assisting the Ministry of Health with the supply of
measles vaccinations to help combat the outbreak; with our Healthcare Logistics and
ProPharma businesses distributing more than 114,000 doses of the measles vaccine.
EBOS International also assisted the Samoan medical authorities in managing that country’s
measles outbreak.
In late 2019, and through the first two months of this year, Australia had to deal with a major
bushfire emergency that significantly impacted almost every state and territory. Throughout
the crisis, EBOS played a critical role in supporting communities as they battled these fires.
Our teams coordinated with federal, state and local authorities to provide vital medicines and
emergency healthcare products to the worst impacted areas.
EBOS also provided significant financial assistance for recovery efforts in addition to donating
products for those in need. The financial aid included donations to BlazeAid, which focuses
on replacing burnt fencing; injured wildlife care organisation WIRES; and support for
independent pharmacies impacted by the fires. Further, TerryWhite Chemmart, together with
its network partners and EBOS, made a significant donation to the Australian Red Cross
Bushfire Appeal.
Our Animal Care business also had a key role to play to support the care of wildlife injured in
the bushfires. Working with support agencies, including the RSPCA and Animal Aid, EBOS
coordinated the delivery of many items including pet food and veterinary products into fire-
affected communities. In addition, EBOS donated more than $100,000 worth of goods to
support animals and pet owners impacted by the fires.
The support EBOS was able to provide communities would not have been possible without
the dedication of our teams across Australia, who worked as one in response to ever changing
conditions and challenges to support our customers during this time.
Following the Chair’s comments earlier regarding EBOS’ increased focus on Environment,
Social and Governance matters, I am pleased to report that through our continued association
with Greenfleet, we were again able to offset 100%, or over 11,200 tonnes, of carbon
emissions associated with our contracted fleet of vehicles across both New Zealand and
Australia.
Furthermore, we increased our investment in solar panel systems with our most recent
installation at Symbion’s South Australian warehouse offsetting approximately 60% of the
site’s daytime energy usage. In the last 18 months we have installed over 7,000sqm of solar
panel systems.
We have continued, where possible, the annual activities under our ECHO program. Many of
the activities such as our ‘Be Well at Work Day’ were adapted to be presented virtually
allowing our employees working from home to participate. Programmes included sessions on

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mental health and well-being, physical exercise and delivery of ‘wellness packages’ to
employees in prolonged lockdown. Our match funding programme also continued
throughout the year with EBOS matching the donations and funds raised by employees for
many charity based events and activities.
As also raised earlier by the Chair, EBOS has recently implemented its first Reconciliation
Action Plan, or RAP, as an initiative designed to understand and embrace reconciliation at
EBOS and develop a greater understanding of Australia’s Aboriginal and Torres Strait Islander
peoples and their cultures.
Whilst the RAP is specific to Australia its does underline EBOS’ growing commitment to
building a more diverse and inclusive culture across EBOS’ New Zealand and Australian
businesses, progress on which will be reported on in future annual reports to shareholders.
In closing, I would like to provide some brief commentary on our current trading
performance. Trading for the first quarter of FY21 has seen the Group continue to record
impressive growth; with group revenue for the first quarter above last year by 6.5%.
Growth in underlying EBITDA and NPAT for the first quarter is above last year by 9% and
15% respectively.
We are very aware of the unpredictable environment we are all experiencing so it’s pleasing
that our first quarter results are positive and exceeded our internal expectations, however,
there can be no certainty that growth will continue at these levels for the remainder of the
year. It is also too early in the year to provide forward guidance in this environment.
The Group though has significant scale and leading market positions as well as a strong
balance sheet so we are well placed to respond to any challenges that may emerge. We again
reiterate our policy of declaring dividends of not less than 60% of Net Profit after Tax.
Finally, I would like to sincerely thank my executive team and all of our employees who have
shown incredible dedication, strength and resilience in managing all that has been put before
them during these unprecedented times. I would also like to thank our Chair and Directors
for their guidance and support during the last 12 months.
Thank you for your attention ladies and gentleman and for your ongoing support as
shareholders.
I’ll now hand back to Liz to continue with the formal matters of this meeting.

Thank you.

98
TH
ANNUAL
MEETING
13 October 2020

DISCLAIMER
The information in this presentation was prepared by EBOS Group Limited (EBOS) with due care and attention. However, the information is supplied in
summary form and is therefore not necessarily complete, and, to the extent permitted by law, no representation is made as to theaccuracy, completeness or
reliability of the information. In addition, neither EBOS nor any of its subsidiaries, directors, employees, shareholders norany other person shall have liability
whatsoever to any person for any loss (including, without limitation, arising from any fault or negligence) arising from thispresentation or any information
supplied in connection with it.
This presentation may contain forward-looking statements and projections. These reflect EBOS’ current expectations, based on what it thinks are reasonable
assumptions. To the extent permitted by law, EBOS gives no warranty or representation as to its future financial performance or any future matter. Except as
required by law or NZX or ASX listing rules, EBOS is not obliged to update this presentation after its release, even if things change materially. This
presentation does not constitute financial advice. Further, this presentation is not and should not be construed as an offer to sell or a solicitation of an offer to
buy EBOS securities and may not be relied upon in connection with any purchase of EBOS securities.
This presentation contains a number of non-GAAP financial measures, including Gross Profit, Gross Operating Revenue, EBIT, EBITA, EBITDA, Underlying
EBITDA, NPAT, Underlying NPAT, Underlying Earnings per Share, Free Cash Flow, Interest cover, Net Debt and Return on Capital Employed. Because they are
not defined by GAAP or IFRS, EBOS’ calculation of these measures may differ from similarly titled measures presented by othercompanies and they should
not be considered in isolation from, or construed as an alternative to, other financial measures determined in accordance with GAAP. Although EBOS believes
they provide useful information in measuring the financial performance and condition of EBOS' business, readers are cautionednot to place undue reliance
on these non-GAAP financial measures.
The information contained in this presentation should be considered in conjunction with the consolidated financial statementsfor the period ended 30 June
2020.
All currency amounts are in Australian dollars unless stated otherwise.

2020 Annual Meeting
3
WELCOME

4
INTRODUCING OUR
BOARD
2020 Annual Meeting

BOARD OF DIRECTORS
5
Sarah Ottrey
Independent Director
Joined 2006
Elizabeth Coutts
Independent Chair of the Board
Joined 2003
Appointed Chair 2019
Peter Williams
Non-executive Director
Joined 2013
Stuart McGregor
Non-executive Director
Joined 2013
Stuart McLauchlan
Independent Director
Joined 2019
Nick Dowling
Independent Director
Joined 2020

01
Welcome
02
Introducing our Board
03
Presentation: Elizabeth Coutts, Chair
04
Presentation: John Cullity, CEO
05
Business of Meeting
06
Conclusion
AGENDA

PRESENTATION
ELIZABETH COUTTS
CHAIR
2020 Annual Meeting
7

We continue to deliver for our customers and serve the communities
where we operate, while also generating strong growth and
shareholder returns. We remain focussedon our strategy of:
•Investing for growth –both organic and acquisitions through disciplined investments
in Healthcare and Animal care;
•Continuing to protect, build or acquire leading market positions in a range of
healthcare and animal care sectors so as to maximise revenue growth; and
•Focusing on generating strong operating cash flows to allow further investment and
improved returns to shareholders.
The strategic direction of EBOS is both proven and sound. It has driven significant
returns for shareholders over many years and we are confident that the business will
continue to deliver future growth.
OUR STRATEGY
8

9
•locking down all critical warehouse sites with only employees
and essential contractors allowed on site;
•Personal Protective Equipment (PPE) was issued to all
employees;
•all persons entering the site to comply with the health
disclosure statement prior to entry; and
•thermal cameras installed at specific sites to monitor body
temperature of all personnel prior to entering the workplace.
Critical sites and distribution centres
COVID-19 HEALTH AND SAFETY
•immediate introduction of strict travel restrictions for all employees;
•banning external visitors to all EBOS offices and critical warehouse sites;
•introduction of additional hygiene, health monitoring, social distancing,
temperature checking and cleaning practices across all sites and offices;
•specific protocols were developed for each business unit for the management of a
confirmed case of COVID-19 at a site or office; and
•personal safety and protection messages and advice on mental health and
wellbeing for both employees and their families were also implemented.
General
Working from home (WFH) and returning to office
•all employees provided resources and equipment required for their home office;
•support to employees on how to manage their daily working life at home;
•mental health and wellbeing and engagement activities via online internal wellness portal;
•risk assessment of all sites conducted prior to employees returning to the workplace; and
•maintaining teams WFH where possible, especially in high-risk areas.

As the largest healthcare and animal care company in New Zealand and Australia, EBOS acknowledges that we
have significant responsibilities as a leading corporate citizen to manage our business in a manner that reflects
the expectations of our stakeholders.
ENVIRONMENT
EBOS’ performance as a steward of nature.
•Furthering our relationship with Greenfleet
to offset EBOS’ carbon footprint; and
•Development of a Climate Statement;
oIncreasing the use of renewable energy
oLowering our carbon footprint
oImproving waste management
oMore efficient water usage
ENVIRONMENT, SOCIAL, GOVERNANCE (ESG)
10
SOCIAL
Manage relationships with stakeholders and
the community.
•Promoting health and wellbeing among our
employees;
•Furthering our commitment to gender
equality and employee diversity;
•Fostering positive culture and engagement
among our employees;
•Implementation of our Australian
Reconciliation Action Plan (RAP);
•Supporting community and selected
charitable causes; and
•Growing customer relationships.
GOVERNANCE
How our company is governed.
•Executive and non-executive employee
remuneration;
•Fostering diversity on the Board;
•Operating a profitable business;
•Responsible procurement strategies and
processes;
•Maintaining adherence to modern slavery
and ethical trade laws;
•Reporting integrity; and
•Ensuring legal compliance.

EMPLOYEE SURVEY
11
Highlights
78% (which is 17% above benchmark*) of our employees having a high degree of confidence in the
leadership and direction of EBOS.
* Australian industry employee survey data. Source: Qualtrics

DIVERSITY
12
Board
The EBOS Board consists of 33.3% female representation including the
Chair.
Executive Leadership Team
The EBOS ELT also has a 33.3% female representation whilst across the
wider organisation females make up 58% of total employees.

DIVIDEND
13
Final Dividend
EBOS’ Director’s announced a final dividend of NZ 40.0 cents per share.
Full Year
Taking the full-year dividend to NZ 77.5 cents per share, an increase of
8.4%on the prior year.

PRESENTATION
JOHN CULLITY
CEO
2020 Annual Meeting
14

FY20 SUMMARY RESULTS
15Note 1: Underlying results exclude the impact of IFRS 16 Leases and net one-off costs.
A$mFY20FY19Var$Var%FY20FY19Var$Var%
Revenue8,765.5 6,930.4 1,835.2 26.5%8,765.5 6,930.4 1,835.2 26.5%
EBITDA296.6 261.6 34.9 13.4%333.6 250.4 83.2 33.2%
Net Profit After Tax168.3 144.4 23.9 16.5%162.5 137.7 24.8 18.0%
Earnings per Share (cents)104.2c94.2c10.0c10.6%100.6c89.8c10.8c12.0%
Total Dividends (NZ cents)77.5c71.5c6.0c8.4%
StatutoryUnderlying
1

KEY HIGHLIGHTS
16
FY20 was a record year for EBOS with all businesses contributing to significant revenue
growth of $1.8b or 26.5%
•Revenue exceeded $8b for the first time.
•Continued commitment to working capital management produced an excellent operating cash flow result of
$229.2m.
•Both our Healthcare and Animal Care businesses contributed to revenue growth, highlighting the strength of EBOS’
diverse portfolio of businesses.
•Community Pharmacy was a key driver of our performance, with a significant increase in revenue and GOR:
oCompleted successful first year of Chemist Warehouse wholesale contract.
oPrevious investments in our automated distribution network positioned us well to meet record customer
demand during March 2020, which was related to COVID-19.
oTerryWhiteChemmartadded 26 new trading stores and continued strong like-for-like sales growth.
oRecent finalisation of the 7th CPA provides long term regulatory certainty needed to continue to support our
customers and the community.
•The Healthcare business also benefitted from strong performances from our Institutional Healthcare and Contract
Logistics businesses as well as our initial entry into medical device distribution.
•The Animal Care business delivered another strong performance, with our Vitapet, Blackhawk and Lyppard
businesses all growing revenue and earnings.
•Completed the acquisition of LMT / National Surgical in the medical devices sector and continue to explore a
strong pipeline of further opportunities.
5 year Earnings Per Share (EPS)
(underlying –cents per share)

TERRYWHITECHEMMART
Continued network growth
17
4.1% network sales growth
Continued growth in one of Australia’s leading community pharmacy networks
that’s real chemistry
In the last 12 months, our national
network increased by 26 pharmacies.
With prescription sales growth of 6.0%
on a like-for-like basis.
Customers are connecting with TWC’s
real chemistry campaign, and increased
investment is leading to stronger brand
awareness and promotional
effectiveness.
COVID-19 response
Personalised care for vulnerable patients,
eCommercewith home delivery, local GP
collaboration and telehealth. Business
continuity plan and daily guidance for
pharmacy teams.
#1 customer satisfaction
Roy Morgan research puts TWC in the
number one position for pharmacy
customer satisfaction.
Over half-a-million flu vaccinations
#1 for pharmacist administered
vaccinations.
Private Label GP$ growth
Strong growth in private label driving
profitability for TWC Network Partners.
Partnerships that improve our business
operations, and grow reach and
connection to new customers.

COVID-19 FINANCIAL IMPACTS
18
Government measures implemented in response to COVID-19 had various financial impacts on EBOS’ businesses in FY20. The
net overall financial impact was broadly neutral and trading conditions improved towards the end of the financial year.
During COVID-19 market conditions, EBOS benefitted from its industry leading distribution network, the defensive nature of
our products and services, our scale and diversity and a strong balance sheet.
Positive impactsNegative impacts
•Community Pharmacy benefitted from unprecedented demand
during March as consumersstockpiled ethical and OTC products.
•Institutional Healthcare benefitted from elevated demand from
hospital customers in preparedness for COVID-19 patients
(medicines and PPE).
•Lower foottraffic during April and May, as well as a reduced
cough and cold season impacted sales in Community Pharmacy
and Consumer Products.
•Institutional Healthcare sales were impacted by reduced GP
visitations.
•Additional costs of implementing initiatives such as work-from-
home, social distancing and extra security and cleaning measures
to protect our employees.
•Black Hawk and Vitapet products benefitted marginally from
increased consumer spending on pets.
•Lyppard benefitted from growth in consumer demand.
•Animates’ physical retail stores in New Zealand were closed
during parts of April and May resulting in lower sales, partially
offset by higher onlinesales.
Healthcare
Animal
Care

A$mFY20FY19Var$Var%
Revenue8,340.46,548.31,792.127.4%
Underlying EBITDA
1
260.0226.633.514.8%
Underlying EBITDA%3.12%3.46%
FY20 SEGMENT PERFORMANCE
19Note 1: Underlying results exclude the impact of IFRS 16 Leases and net one-off costs.
•Healthcare’s growth in Revenue of 27.4% and
Underlying EBITDA of 14.8% was driven by the
performances of our Community Pharmacy, TWC,
Institutional Healthcare and Contract Logistics
businesses.
•Australia recorded growth in Revenue and
Underlying EBITDA of 33.1% and 19.6%
respectively.
Healthcare
Underlying EBITDA (A$m) and Underlying EBITDA %

A$mFY20FY19Var$Var%
Revenue425.1382.043.111.3%
Underlying EBITDA
1
52.348.34.08.3%
Underlying EBITDA%12.3%12.6%
FY20 SEGMENT PERFORMANCE
20Note 1: Underlying results exclude the impact of IFRS 16 Leases.
Animal Care
Underlying EBITDA (A$m) and Underlying EBITDA %
•Revenue growth of $43.1m, or 11.3%, due to the
continued excellent performance of our branded
products portfolio and higher vet wholesale
volumes.
•Our key brands Black Hawk and Vitapetrecorded
strong uplifts in revenue with both continuing to
grow within their market segments.
•Lyppardstrengthened its market position during
the period with revenue increasing by 12.0% due
to customer growth and the recently acquired
Theraponbusiness.

STRATEGIC INVESTMENTS ARE DRIVING SHAREHOLDER RETURNS
21
$600m invested over the last five years

•We are pleased to announce EBOS’ continuing investment in the medical device
sector, with the strategic acquisition of Cryomed Australia (“Cryomed”) for a
purchase price of $14.1 million. The acquisition is expected to be completed by
the end of October 2020.
•Cyromedwas established in 2013 and markets and distributes devices and
consumables used in aesthetic procedures in Australia and New Zealand.
•The acquisition will be funded from existing facilities and is expected to be
immediately EPS accretive to EBOS shareholders.
•Consistent with our proven strategy, we will continue to pursue growth in this
sector through further bolt-on acquisitions. As a truly independent partner we
can provide long term growth opportunities to both existing and new Original
Equipment Manufacturers (OEM) as we bring our experienced management,
capital resources and strong hospital relationships to the Australian and NZ
markets.
22
FURTHER ACQUISITION IN THE MEDICAL DEVICES MARKET IN FY21

7
TH
COMMUNITY PHARMACY AGREEMENT
•Symbion, together with members of the National Pharmaceutical Services Association (NPSA) was actively engaged in
negotiations with the Australian Department of Health and the Federal Health Minister in respect of a successful outcome.
•In June 2020, the CPA was finalised, providing regulatory certainty for our Healthcare business in Australia with additional
investment in the Community Service Obligation (CSO) Funding Pool and a restructured wholesale mark-up for
Pharmaceutical Benefits Scheme (PBS) medicines.
•The new CPA, which runs until July 2025, provides EBOS’ wholesale business with additional certainty due to a $92 million
increase in CSO funding.
23
June 2020 also marked a significant milestone for EBOS’ Australian wholesale distribution business, Symbion,
with the finalisation of the 7th Community Pharmacy Agreement (CPA).

DISASTER RELIEF
24
EBOS’ businesses and employees have contributed to community disaster relief efforts in FY20 through our integral role in the
region’s medical supply chain
COVID-19•EBOS’wholesale,distributionandretailhealthcarebusinessesareessentialservicesandplayanintegralroleinmaintaining
stablesupplyofmedicinestocommunitiesacrossAustraliaandNewZealand.
•DuringMarchSymbion,alongwiththeothermembersoftheNPSA,distributedmorethan70millionPBSmedicines(up70%)
acrossAustralia.
New Zealand
Volcanic
Eruption and
Measles
Outbreak
•EBOS’hospitaldistributionbusiness,Onelink,workedwithitscustomersandlocalhealthauthoritiestomeetthesurgein
demandforburnsdressingsandtheatresuppliestotreattheinjuredfromtheWhiteIslanderuption.
•InNewZealand,HealthcareLogisticsandProPharmaprocessedmorethan114,000dosesofthemeaslesvaccine
coordinatingthesupplyofthevaccinationdailyinconjunctionwiththeNationalHealthCrisiscentre.
Australian
bushfires
•EBOSplayedanintegralroleinsupportingcommunitiesacrossAustraliaastheybattledbushfiresinlate2019andearly2020
coordinatingwithfederal,stateandlocalauthoritiestoprovideemergencysuppliesanddonationstotheworstimpactedareas.
•EBOSalsoprovidedfinancialassistanceforrecoveryeffortsinadditiontodonatingproductsincludinghydrationtablets,
masks,eyedrops,icebricks,eskiesandsanitationproductsforthoseinneed.

‘ECHO’ PROGRAM (ENVIRONMENT, COMMUNITY, HELPING OTHERS)
25
EBOS is committed to employee and social responsibility across New Zealand and Australia
Employee
Assistance
Program
(EAP).
EMPLOYEES
Employee
engagement
survey.
ECHO Program.
11,274
tonnesof
carbon
offset.
42,052 trees
planted
through
Greenfleet.
4,800 sqm
of solar
panels
installed.
MALPA Young
Doctors Project
–6
th
year
EBOS Group
Reconciliation
Action Plan.
LandSAR–
NZ Search
+ Rescue.
Health,
safety and
wellbeing.
ENVIRONMENT
COMMUNITY

RECONCILIATION ACTION PLAN
26
•In 2020, EBOS was pleased to launch its first RAP as
part of our commitment to reconciliation between
Aboriginal and Torres Strait Islander peoples and the
broader Australian population.
•For EBOS, reconciliation is a journey –one of
understanding and embracing Aboriginal and Torres
Strait Islander peoples and their cultures and forging
deeper connections between Indigenous and non-
Indigenous Australians.
•In developing and implementing the RAP, EBOS
consulted closely with Reconciliation Australia, to
develop our own unique principals and vision for
reconciliation.
Our RAP
Artwork by Australian Rules Football star and celebrated Indigenous artist,
Gavin Wanganeen. Born in Mount Gambier, South Australia, Gavin is a proud
descendent of the KokathaMulapeople of the Western Desert in South
Australia.

•Growth in EBOS’ revenue, EBITDA and NPAT for the first quarter of FY21 on the prior corresponding period was as follows:
•It is pleasing that the first quarter result exceeded our internal expectations.
•Given COVID-19, the broader economic outlook and unpredictability of the market, there is no certainty the growth will continue
at these levels for the remainder of the year. It is considered too early in the year to provide forward guidance in this environment.
•However EBOS’ scale and market leading positions in stable industries, as well as our strong balance sheet, we are well placed to
respond to challenges that may emerge.
•EBOS reiterates its policy of declaring dividends of not less than 60% of NPAT. EBOS has a history of paying dividends that are 25%
imputed for NZ investors and 100% franked for Australian investors.
27
Note 1: Q1 FY21 represents the three month period from July to September 2020. This period has the same number of trading days as the prior corresponding period.
Note 2: EBITDA and NPAT includes the impacts of IFRS16 Leases. These financial results are unaudited.
FY21 TRADING UPDATE
Q1 FY21 vs. Q1 FY20
1
HealthcareAnimal CareGroup
Revenue growth+6.1%+14.1%+6.5%
EBITDA growth
2
+9.2%+18.7%+9.0%
NPAT growth
2
+15.0%

BUSINESS OF
MEETING
2020 Annual Meeting
28

ITEM 1
29
Annual Report and Financial Statements
To consider and receive the annual report and
the financial statements for the year ended 30
June 2020 and the audit report thereon.

ITEM 2
30
It is hereby resolved that Nicholas Dowling be re-elected as a director of the Company
Resolution 1: Re-election of Director –Nicholas Dowling
INDEPENDENT DIRECTOR
BCA (Hons); BA
Nick was appointed to the EBOS Group Limited Board in February 2020. Nick is currently the Chief Operating
Officer at Balmoral Australia, a family office engaged in the tourism, wine, maritime services and investment
sectors. Prior to Balmoral Australia, Mr Dowling was Managing Director and CEO, Australia and New Zealand
at New Hope Group Co. Ltd, a private Beijing based corporation engaged in agribusiness and food, real estate
and infrastructure, chemicals, finance and investment. He has also held senior roles at UBS, Goldman Sachs, JP
Morgan and Morgan Stanley. He currently sits on the Advisory Board of AEH Group and is a director of a
number of Balmoral Australia companies.
The Board considers Nicholas Dowling is an Independent Director as referred in the NZX Listing Rules.
Pursuant to NZX Listing Rule 2.7.1 and ASX Listing Rule 14.4, a director appointed by the Board must not hold
office (without re-election) past the next annual meeting following the Director’s appointment.
Mr Dowling retires in accordance with NZX Listing Rule 2.7.1 and ASX Listing Rule 14.4, and offers himself for
re-election.

ITEM 3
31
It is hereby resolved that Sarah Ottreybe re-elected as a director of the Company
Resolution 2: Re-election of Director –Sarah Ottrey
INDEPENDENT DIRECTOR
BCOM
Sarah was appointed to the EBOS Group Limited Board in September 2006. She is a member of the
Remuneration Committee. Sarah is Chair of Whitestone Cheese Limited and a director of Skyline Enterprises
Limited and subsidiaries, Mount Cook Alpine Salmon Limited, Christchurch International Airport Ltd and Sarah
Ottrey Marketing Limited. She is a past board member of the Public Trust and the Smiths City Group. Sarah
has held senior marketing management positions with Unilever and Heineken.
The Board considers Sarah Ottreyis an Independent Director as referred in the NZX Listing Rules.
Pursuant to NZX Listing Rule 2.7.1 and ASX Listing Rule 14.4, a director must not hold office without re-
election past the third annual meeting following the director’s appointment, or 3 years, whichever is longer.
Ms Ottreyretires in accordance with NZX Listing Rule 2.7.1 and ASX Listing Rule 14.4, and offers herself for re-
election.

ITEM 4
32
Resolution 3: Re-election of Director –Stuart McGregor
Resolution 3: Re-election of Director –Stuart McGregor
STUART MCGREGOR
BCOM, LLB, MBA
Stuart was appointed to the EBOS Group Limited Board in July 2013. He is a member of the Audit and Risk
Committee. Stuart was educated at the University of Melbourne and the London School of Business
Administration, gaining degrees in Commerce and Law. He also completed a Master of Business Administration
at the University of Melbourne.
Currently, Stuart is a director of SymbionPty Ltd and other EBOS Group subsidiaries.
Over the last 30 years, Stuart has been Company Secretary of Carlton United Breweries, Managing Director of
Cascade Brewery Company Limited in Tasmania and Managing Director of San Miguel Brewery Hong Kong
Limited. In the public sector, he served as Chief of Staff to a Minister for Industry and Commerce in the Federal
Government and as Chief Executive of the Tasmanian Government’s Economic Development Agency. He was
formerly a director of PrimelifeLimited and DonacoInternational Limited.
The Board considers Stuart McGregor is not an Independent Director as referred in the NZX Listing Rules.
Pursuant to NZX Listing Rule 2.7.1 and ASX Listing Rule 14.4, a director must not hold office without re-election
past the third annual meeting following the director’s appointment, or 3 years, whichever is longer.
Mr McGregor retires in accordance with Listing Rule 2.7.1 and ASX Listing Rule 14.4, and offers himself for re-
election.

ITEM 5
33
It is hereby resolved that the directors of the Company be authorised to fix the fees and expenses of Deloitte as
auditor of the Company
Resolution 4: Auditor’s remuneration
Deloitte is automatically reappointed as the auditor of the Company under section 207T of the Companies Act 1993. Pursuant to
section 207S of the Companies Act 1993, this resolution authorises the directors to fix the fees and expenses of the auditor.

ITEM 6
34
To consider any other business that can be properly brought before
the meeting.

35
CONCLUSION
2020 Annual Meeting

Thank you for joining us.
www.ebosgroup.com