Results of Annual Shareholder Meeting

23 June 2021


T&G Global holds 100
th
Annual Shareholder Meeting

T&G Global held its 100
th
Annual Shareholder Meeting today, reviewing the 2020 financial
year and providing insight into the economic outlook for the next six months, as well as
celebrating the service of its outgoing Chairman and welcoming his successor.

Financial highlights included the fact the Company delivered a strong profit result, despite
uncertainty and challenges due to COVID-19. T&G reported an increased overall revenue of
$1.4 billion, from $1.2 billion in 2019, as well as an increase in profit after tax to $16.6 million,
from $6.6 million in the year prior.

T&G’s outgoing Chairman, Professor Klaus Josef Lutz, says the results were pleasing at a
time of international uncertainty and volatility in global markets.

Professor Lutz leaves his role as T&G Chairman after nine years at the helm, and today
reflected on the Company’s position now and into the future.

“The strategic programme of work that T&G has undertaken over the past nine years has
been immense. Enabling the selling of non-core assets allowed reinvestment into growth
activities, contributing to the development of new plant varieties and world class genetics,
redevelopment of orchards and the introduction of state-of-the-art technology and
automation.

“This strategic growth continues, and with its focused business strategy, strong leadership
and continual improvements, T&G is primed to harness opportunities into the future. I’m
proud of the incredible transformation the business has made in the past nine years,” says
Professor Lutz.

Incoming Chairman, Benedikt Mangold, leads BayWa’s Global Produce division and has
previously worked at T&G. He says he is honoured to be appointed Chairman.

“There is unabated demand internationally for high quality fresh produce, and this creates an
incredible opportunity for both T&G and BayWa’s Global Produce business. I have a deep
understanding and passion for T&G’s business following three years working within the
Company in New Zealand. A lot of work has gone into creating a strong foundation,
positioning T&G well for future growth, and I look forward to harnessing my knowledge and
experience and working alongside our strong Board and talented leadership team to further
strengthen the business,” said Benedikt Mangold.

T&G Chief Executive, Gareth Edgecombe, reflected on a challenging but strong year.

“The pleasing financial results from FY2020 are a result of excellent teamwork and an
ongoing transformation to improve our underlying performance. Our focus on ensuring we
have an inspiring purpose and clear strategic direction that is supported by our entire team,
has played a big part in delivering these positive results.”

Gareth also commented on the outlook for the 2021 financial year.

“While we thought 2020 was a difficult year, 2021 is shaping up to be even more of a
challenge.

“It was a tough start to the season for our Apples business, with adverse weather in Nelson
impacting a significant portion of our own crop, and that of our growers.

“At the same time, the impact of COVID-19 continues to present a number of challenges,
including a shortage of seasonal workers and disruptions throughout the global logistics
system.

“Our team did a phenomenal job hiring over 950 New Zealanders throughout the season to
work alongside a reduced number of Recognised Seasonal Employer team members.
However, at the peak of the season we were still short around 300 people per day, which
meant we had to leave some produce unpicked, including export apples.

“Like many exporters, supply chain congestion and a shortage of containers is impacting how
we get our fresh produce to global markets. Our team is working tirelessly to source charter
ships and partner with other businesses and industries, to ensure we can meet customer
demand.

“Furthermore, our T&G Fresh domestic business has been operating in a difficult
environment and the team is well progressed in addressing these challenges, as well as
delivering increased synergies from our 2020 acquisition of Freshmax NZ Limited.

“While many of the challenges we’re facing are industry wide, I’m confident T&G has the right
strategy, the best people and the fortitude to get through them. We’re doing everything we
can to build on the underlying financial strength in our business and I know we’ll be able to
meet these challenges head on,” said Gareth Edgecombe.



For further information, please contact:

Adrienne Sharp
Head of Corporate Affairs
Adrienne.sharp@tandg.global
+64 27 801 5534

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Template
Meeting Results Announcement
Updated as at 26 September 2019
Page 1 of 2
23 June 2021

Results of T&G Global Limited Annual Shareholder Meeting

At T&G Global Limited’s Annual Shareholder Meeting, held via a virtual meeting on Wednesday
23 June 2021, shareholders were asked to vote on four resolutions, which were supported by
the Board.

As required by NZX Listing Rule 6.1, all voting was conducted by a poll.


The resolutions passed by shareholders were:

• Election of Directors
• Appointment and Remuneration of Auditor



Detail of the total number of votes cast in person or by a proxy holder are:

Resolution For Against Abstain
1. Election of Director
To vote upon the election of Directors of
the Company who are retiring by
rotation in accordance with the
Constitution and the NZX Listing Rules
and, being eligible, offer themselves for
re-election:
“That Mr Andreas Helber be reappointed
as a Director of T&G Global Limited”
118,735,556
100.00%
4,901
0.00%
353
0.00%
2. Election of Director
To vote upon the election of Directors of
the Company who are retiring by
rotation in accordance with the
Constitution and the NZX Listing Rules
and, being eligible, offer themselves for
re-election:
“That Mr Ralf Tobias Priske be
reappointed as a Director of T&G Global
Limited”
118,735,556
100.00%
4,901
0.00%
353
0.00%
3. Election of Director
To vote upon the election of Directors of
the Company who are retiring by
rotation in accordance with the
Constitution and the NZX Listing Rules
and, being eligible, offer themselves for
re-election:
“That Mr Marcus Poellinger be
reappointed as a Director of T&G Global
Limited”
118,735,556
100.00%
4,901
0.00%
353
0.00%

Page 2 of 2
4. Appointment and Remuneration
of Auditor
“That under Section 207T(1) of the
Companies Act 1993 the reappointment
of Deloitte be confirmed; and that the
Directors be authorized to fix the fees
and expenses of the auditor for the
ensuing year.”
118,740,300
100.00%
0
0.00%
520
0.00%

Authority for this announcement
Name of person authorised to make this
announcement
Douglas Bygrave
Contact person for this announcement Douglas Bygrave
Contact phone number 09 573 8899
Contact email address Doug.Bygrave@tandg.global
Date of release through MAP 23 June 2021