My Food Bag confirms dividend and releases HY results

18 November 2022
NZX/ASX Code: MFB

My Food Bag confirms interim dividend and releases H1FY23 results

My Food Bag Group Limited (NZX / ASX: MFB) reports its financial performance for the six months to 30
September 2022 (H1FY23).

Key points include:
• Net profit after tax (NPAT) of $5.9 million, versus $9.4 million in H1FY22
• EBITDA
1
of $11.5 million, versus $15.8 million in H1FY22
• Revenue of $94.4 million, $4.0 million less than H1FY22
• Gross margin of 49.3%, up on 48.1% during H1FY22
• Contribution margin of 25.3%, compared to 26.3% in H1FY22
• 69,091 active customers
2
at end of H1FY23, up from 61,731 at the end of FY22
• Investment in assembly pick technology underway to unlock future growth
• Fully imputed interim dividend of 3.0 cents per share declared, payable on 15 December 2022.

Tony Carter, Chairman of My Food Bag, says: “My Food Bag saw a slower start to trading in FY23 than
expected, as the business navigated a challenging external environment. The volatility of the current economic
environment and inflationary pressures present challenges, however the Board and I remain confident about
the opportunities ahead for My Food Bag.
“During the first half of the financial year, My Food Bag made 732,000 deliveries across its portfolio of brands,
with an average order value of $129.00. This compares to 808,000 deliveries in H1FY22, with a lower average
order value of $121.80.
“As signalled at the Annual Shareholder Meeting in August, the Board is pleased to declare an interim dividend
of 3.0 per share. This interim dividend represents confidence in the business, with the asset light operating
model allowing growth to be funded internally,” says Carter.
My Food Bag CEO, Mark Winter, says, “Across the whole meal kit category, discounts have played a heavy role
in attracting new customers during the first half of the year. However, we’ve experienced higher than average
churn from customers starting with us via discount deals. We have taken the learnings from this to optimise
how we roll out discounts in this current economic environment.

“This change in customer behaviour is one of the drivers behind active customer numbers bouncing around
during the half year. On the last weekend of September, active customer numbers were at 69,091. Whilst this
is up on the last quarter of FY22 (61,731), it’s down on Q2FY22 and down on active customer numbers at the
end of July 2022 (73,145),” says Winter.

Outlook
Recent trading reflects a continuation of trends seen in the first half year of the financial year. Full year
earnings will be lower than last year, and as a consequence the Board anticipates the final dividend will also be
lower than the prior year.
“Action is being taken to improve trading performance with a priority on growing active customer numbers
and retention, and cost pressures continue to be managed and mitigated, where possible.

1
EBITDA (earnings before interest, tax, depreciation and amortisation) is a non-GAAP measure. A reconciliation from GAAP NPBT to non-GAAP EBITDA can be
found in the notes to the interim financial statements.
2
Active customers are customers that have taken at least one delivery in the 13 weeks prior.

“Alongside these priorities, we also continue to invest in initiatives that set the foundation for future growth.
We are excited about our investment in supply chain improvements that will capture cost efficiencies and
unlock growth in FY24,” says Winter.

My Food Bag is installing assembly pick technology as part of its investment in supply chain improvements to
capture cost efficiencies and unlock growth. The business has engaged a European vendor with extensive
experience implementing ingredient level pick technology in the global meal kit industry.

“The investment will allow us to significantly simplify our operating processes, reducing our dependence on
temporary labour and making the job of picking easier, thereby reducing errors.

“This assembly pick technology will also give us the ability to vastly extend recipe choice, as well as offer
greater personalisation and customisation benefits to customers. We expect the gains of this technology
investment to start being realised from FY24,” says Winter.

End

Authorised by:
Board of Directors of My Food Bag Group Limited

For investor or analyst queries, please contact: For media queries, please contact:
Mark Winter Louisa Kraitzick
+64 9 886 9840 021 299 2628
ir@myfoodbag.co.nz louisa.kraitzick@pead.co.nz


This release should be read in conjunction with the unaudited interim financial statements accompanying this
release and the NZX results announcement form and NZX distribution notice.

---

Results Announcement

Results for announcement to the market
Name of issuer My Food Bag Group Limited (MFB)
Reporting Period 6 months to 30 September 2022
Previous Reporting Period 6 months to 30 September 2021
Currency NZD
Amount (000s) Percentage change
Revenue from continuing
operations
$94,410 -4.09%
Total Revenue $94,410 -4.09%
Net profit/(loss) from
continuing operations
$5,878 -37.70%
Total net profit/(loss) $5,878 -37.70%
Interim Dividend
Amount per Quoted Equity
Security
$0.03000000
Imputed amount per Quoted
Equity Security
$0.01166667
Record Date 30 November 2022
Dividend Payment Date 15 December 2022
Current period Prior comparable period
Net tangible assets per Quoted
Equity Security
-0.0908

-0.0873
A brief explanation of any of
the figures above necessary to
enable the figures to be
understood
This results announcement should be read in conjunction with the
accompanying unaudited consolidated financial statements for the six
months ended 30 September 2022.

Authority for this announcement
Name of person authorised to
make this announcement
Mark Winter, Chief Executive Officer
Contact person for this
announcement
Mark Winter, Chief Executive Officer
Contact phone number +64 9 886 9840
Contact email address ir@myfoodbag.co.nz
Date of release through MAP 18 November 2022

Unaudited financial statements accompany this announcement.

---

Distribution Notice

Section 1: Issuer information
Name of issuer My Food Bag Group Limited
Financial product name/description Ordinary shares
NZX ticker code MFB
ISIN (If unknown, check on NZX website) NZMFBE0004S1
Type of distribution
(Please mark with an X in the
relevant box/es)
Full Year Quarterly
Half Year X Special
DRP applies No
Record date 30 November 2022
Ex-Date (one business day before the Record Date) 29 November 2022
Payment date (and allotment date for DRP) 15 December 2022
Total monies associated with the distribution $7,273,125.72
(242,437,524 shares at $0.03 per share)
Source of distribution (for example, retained
earnings)
Retained earnings
Currency NZD
Section 2: Distribution amounts per financial product
Gross distribution
1
$0.04166667
Gross taxable amount
2
$0.04166667
Total cash distribution
3
$0.03000000
Excluded amount (applicable to listed PIEs) N/A (not a listed PIE)
Supplementary distribution amount $0.00529412
Section 3: Imputation credits and Resident Withholding Tax
4

Is the distribution imputed Fully imputed
If fully or partially imputed, please state imputation
rate as % applied
5

28%
Imputation tax credits per financial product $0.01166667
Resident Withholding Tax per financial product $0.00208333

1
“Gross distribution” is the total cash distribution plus the amount of imputation credits, per financial product, before the deduction of Resident
Withholding Tax (RWT).
2
“Gross taxable amount” is the gross distribution minus any excluded income.
3
“Total cash distribution” is the cash distribution excluding imputation credits, per financial product, before the deduction of RWT. This should
include any excluded amounts, where applicable to listed PIEs.
4
The imputation credits plus the RWT amount is 33% of the gross taxable amount for the purposes of this form. If the distribution is fully imputed
the imputation credits will be 28% of the gross taxable amount with remaining 5% being RWT. This does not constitute advice as to whether
or not RWT needs to be withheld.
5
Calculated as (imputation credits/gross taxable amount) x 100. Fully imputed dividends will be 28% as a % rate applied.

Section 5: Authority for this announcement
Name of person authorised to make this
announcement
Mark Winter, Chief Executive Officer
Contact person for this announcement Mark Winter, Chief Executive Officer
Contact phone number +64 9 886 9840
Contact email address ir@myfoodbag.co.nz
Date of release through MAP 18 November 2022

---

INTERIM FINANCIAL REPORT
For the six months ended 30 September 2022

Letter from our Chair 3
Letter from our CEO 5
Directory 8
Interim Financial Statements 10
Review Report 22
CONTENTS
MY FOOD BAG GROUP LIMITED INTERIM REPORT 2023

Letter
from our
Whilst the current volatile economic
environment and inflationary pressures
present challenges, the Board and I remain
confident about the opportunities ahead for
My Food Bag.
We operate in a small but growing part of the $37 billion
New Zealand retail food sector, with considerable scope
for expansion.
However, My Food Bag saw a slower start to trading in FY23
than expected, as the business navigated a challenging
external environment.
Action is being taken to improve trading performance with a
priority on growing active customer numbers and retention.
Cost pressures continue to be managed and mitigated
where possible.
We are also investing in supply chain improvements that
will capture cost efficiencies and unlock growth in FY24
and beyond.
As signalled at the Annual Shareholder Meeting in August,
however, the Board is pleased to declare an interim dividend.
We have declared a fully imputed interim dividend of 3.0
cents per share, payable on 15 December 2022.
With recent trading reflecting a continuation of the trends
seen in the first half year, full year earnings will be lower than
last year. As a result, we anticipate the final dividend will be
lower than last year.
This interim dividend represents
confidence in the business, with our
asset light operating model allowing
growth to be funded internally.
Chair
MY FOOD BAG GROUP LIMITED INTERIM REPORT 2023
3

In August we farewelled Chris Marshall from the Board
of My Food Bag and welcomed Cecilia Robinson back
to the Board.
We knew Cecilia’s entrepreneurial background and innovative
drive would complement the existing skills on the Board well
and also welcomed having someone with extensive institutional
knowledge about the business.
We also increased the number of Board members with the
appointment of Mark Powell in October this year.
Mark has diverse experience working in a number of different
industries in New Zealand and overseas as part of his
executive and governance career, including retail, property,
logistics, food, financial services, agriculture and education.
On behalf of the Board, I would like to thank Chris again for his
considerable contribution to My Food Bag and I look forward
to working further with Mark and Cecilia.
Looking ahead, the Board and management remain focussed
on executing the business’s strategy, as well as the performance
of the business.
With this in mind, the Board has established a Marketing
Committee, which will support the development and execution
of plans to drive sustainable growth.
We are mindful of our share price to date and I’d like to
acknowledge again those who participated in the IPO.
In the long run, we remain confident about the opportunities
for My Food Bag and would like to thank our shareholders
for their support.
Tony Carter
Chair
MY FOOD BAG GROUP LIMITED INTERIM REPORT 2023
CEO AND GOVERNANCE UPDATE
Following Kevin Bowler’s resignation, the Board and I were
delighted to announce Mark Winter’s appointment as CEO
of My Food Bag in November this year.
Mark has been integral to My Food Bag’s success since he
joined in 2019 as CFO. He was crucial in helping drive a
significant period of growth for the business, navigating the
challenges posed by the pandemic and transitioning the
business to a listed company.
After careful consideration of the needs of the role and the
desired attributes of our next CEO, the directors unanimously
agreed that Mark was the ideal candidate.
Mark is passionate about My Food Bag, has in-depth
knowledge about the business and continues to show his
impressive leadership and commercial skills. Mark is excellent
at getting the best out of those around him and has earned the
respect of the Board, employees and other stakeholders.
Alongside CEO changes, we have also had
governance changes.
4

My Food Bag had a slower start
to trading in FY23. We have initiatives
underway to grow active customers
and retention, while optimising business
operations to unlock future growth
in FY24 and beyond.
But as signalled to the market, the Board and management
expect FY23 earnings to be below FY22 earnings.
For the first half of FY23 revenue was $94.4 million,
$4.0 million down on H1FY22. EBITDA
1
for H1FY23 was
$11.5 million, versus $15.8 million for the same period
in FY22.
This has resulted in net profit after tax (NPAT) dropping to
$5.9 million, versus $9.4 million in H1FY22.
FINANCIAL PERFORMANCE
Omicron had a marked effect on our supply-side confidence
in Q4 FY22 as we, along with our suppliers, encountered
difficulties accessing staff and dealing with the flow-on
problems of incomplete and late deliveries.
We responded to these challenges at the time by further
simplifying our product offering and reducing marketing
activity, which had the effect of a slower start to FY23.
During H1FY23 as we sought to rebuild active customers
3

we did see lower levels of retention from some of our
marketing activity, which impacted deliveries. Recognising
this we refocused our approach and we now have initiatives
underway to grow demand.
During the first half we made 732,000 deliveries, with an
average order value of $129.0. This compares to 808,000
deliveries in H1FY22, with a lower average order value
o f $121. 8 .
In the context of high inflation we have taken proactive steps
to protect our gross margin
4
, while being careful to limit price
increases for our customers.
Gross margin percentage increased to 49.3%, versus 48.1% in
H1FY22. As a result, contribution margin
4
remained relatively
stable at 25.3%, compared to 26.3% for H1FY22.
Active customer numbers have bounced around during the
half year. On the last weekend of September active customer
numbers were at 69,091.
Whilst this is up on the last quarter of FY22 (61,731), it’s down
on Q2FY22 and down on active customer numbers at the end
of July 2022 (73,145).
High value customers
2
have dropped by a smaller margin than
overall active customer numbers.
BUSINESS UPDATE
INVESTING IN SUSTAINABLE CUSTOMER GROWTH
Each of our four consumer brands – My Food Bag, Bargain
Box, Fresh Start and Made – hold a clear segment in the
category and during the first half of the year we have worked
to differentiate these brands further and strengthen each one.
Across the whole meal kit category discounts played
a heavy role in attracting new customers during the first half
1.
A reconciliation from GAAP net profit before tax to non-GAAP earnings before interest, tax, depreciation and amortisation (EBITDA) is shown in the notes to the Interim Financial Statements.
2.
High value customers are customers that have taken at least 20 deliveries in the past 12 months.
3.
Active customers are customers that have taken at least one delivery in the13 weeks prior.
4.
Gross margin and contribution margin are non-GAAP performance measures. A reconciliation to NPAT is included in the Appendices to the FY23 H1 results presentation
at www.investors.myfoodbag.co.nz
Letter
from our
CEO
MY FOOD BAG GROUP LIMITED INTERIM REPORT 2023
5

of the year. However, we’ve experienced higher than average
churn from customers starting with us via discount deals. We
have taken the learnings from this to optimise how we roll out
discounts in this current economic environment.
We have also invested in our brands via renewed marketing
efforts. We are back marketing My Food Bag on television
via a new brand campaign, Taste Adventures, and via our
sponsorship of Nadia’s Farm.
Outside of My Food Bag, Bargain Box is proving a valuable
product for us. Bargain Box deliveries were up 2.1% year-on-
year and our high value customers are also up for this brand.
Bargain Box is New Zealand’s affordable meal kit and has
an average meal rating of 4.04 out of five. We have plans
underway to leverage this brand further as we live through
this current economic cycle.
THE KITCHEN
In mid-2021, we launched the My Food Bag Kitchen to
tempt customers to purchase more of their weekly shop from
My Food Bag. It has been one of the drivers behind the uplift
in overall average order value during FY23, compared
to FY22.
We now offer 150 SKUs per week and during H1 we sold
more than 50 thousand breakfasts, 100 thousand lunches and
70 thousand desserts via the Kitchen range.
OPERATIONAL TRANSFORMATION
Critical to the expansion of the Kitchen range is our investment
in assembly pick technology.
We have engaged a European vendor with extensive
experience implementing ingredient level pick technology
in the global meal kit industry.
Detailed work is well underway and will further unlock growth
across the business.
The investment will allow us to significantly simplify our
operating processes, reducing our dependence on temporary
labour and making the job of picking easier, thereby
reducing errors.
As well as delivering improved operational productivity
and quality outcomes, this technology will give us the ability
to vastly extend recipe choice, as well as offer greater
personalisation and customisation benefits to customers.
We expect the gains of this technology investment to start being
realised from FY24.
We are also still actively investigating bolt-on M&A
opportunities for vertical integration, but we will only progress
those that provide margin and value accretion.
PEOPLE AND CULTURE
Alongside our investment in operations, investing in our
company culture and leadership capabilities was also a focus.
So far this year we have launched our staff share scheme,
started our first leadership development programme, and have
revitalised our company values after a business-wide initiative.
COMMUNITY AND ENVIRONMENTAL IMPACT
Following extensive testing, we launched the Coola Box
to replace the wool insulation systems wrapped in soft plastic.
The Coola Box keeps our ingredients cool and fresh, without
the need for soft plastic. It is made with FSC Certified
cardboard that’s 70% recycled.
It’s all part of our plastic reduction journey, and across FY23
we expect this change to save 15 tonnes of soft plastic.
We have also moved our seasonal customer magazine from
print to online and have saved 1.3 million pages in printing
so far.
Beyond packaging reduction, we’re also proud to work with
Garden to Table and donations so far this year are up 25%
on the same time last year.
MY FOOD BAG GROUP LIMITED INTERIM REPORT 2023
6

My focus with the whole My Food Bag team is growing active
customer numbers and retention, and maintaining gross margin
levels though close management of ingredient costs.
We are focused on active customers
and retention, while investing in
people, core capabilities and supply
chain improvements to unlock growth
in FY24 and beyond.
Looking ahead, recent trading reflects a continuation of the
trends seen in the first half of the year. Our focus is on active
customer numbers and retention, while closely managing and
mitigating cost pressures.
We continue to invest in initiatives that set the foundation for
future growth. This includes our investment in supply chain
improvements and core capabilities to capture cost efficiencies
and unlock growth in FY24.
As signalled at the ASM in August, the Board has declared a
fully imputed interim dividend of 3.0 cents per share, payable
on 15 December 2022. With earnings expected to be down
on last year, we anticipate the final dividend will be lower than
last year.
Mark Winter
CEO
OUTLOOK AND SUMMARY
When I took on the permanent role of CEO of My Food Bag
this month, I said that despite there being a number of
challenges ahead in the current economic and inflationary
environment, My Food Bag remains an exceptional business
with a clear purpose to inspire Kiwis to be happier and
healthier, one meal at a time.
I’m looking forward to leading My Food Bag through its next
phase and delivering the initiatives already underway that
will optimise our business operations to unlock growth in
FY24 and beyond.
I would also like to take this opportunity to thank all the
My Food Bag team and our community of suppliers for
their work during the first half of this year and beyond.
MY FOOD BAG GROUP LIMITED INTERIM REPORT 2023
7

Directory
BOARD OF DIRECTORS
Tony Carter (Chair)
Jen Bunbury
Sarah Hindle
Jon Macdonald
Cecilia Robinson (Appointed 19 August 2022)
Mark Powell (Appointed 1 November 2022)
SENIOR LEADERSHIP TEAM
Mark Winter
Chief Executive Officer
Jeremy Edmonds
Interim Chief Financial Officer
Paul Kelly
Chief Supply Chain Officer
Jo Mitchell
Chief Customer Officer
Polly Brodie
Head of Development Kitchen
Craig Jordan
Chief Digital Officer
Trish Whitwell
Head of Innovation
Cassie Ormand
Head of People & Culture
REGISTERED OFFICE
Level 3, 56 Parnell Road
Parnell
Auckland 1052
New Zealand
Ph: 0800 469 366
Website: www.myfoodbag.co.nz
For enquiries about My Food Bag’s operating
and financial performance, contact investor relations:
Ph: +64 9 8869840
Email: ir@myfoodbag.co.nz
AUDITOR
Ernst & Young, Auckland
SOLICITORS
Russell McVeagh
BANKERS
ASB Bank
SHARE REGISTRY
My Food Bag’s share register is maintained by Link Market
Services Limited. Link is your first point of contact for any
queries regarding your investment in My Food Bag.
You can view your investment, indicate your preference for
electronic communications, access and update your details
and view information relating to dividends and transaction
history at any time by visiting the Link Investor Centre at
investorcentre.linkmarketservices.co.nz (for New Zealand
shareholders) and investorcentre.linkmarketservices.com.au
(for Australian shareholders).
NEW ZEALAND REGISTRY
Link Market Services Limited
Level 30 PwC Tower
15 Customs Street West
Auckland 1010
New Zealand
Ph: +64 9 375 5998
Email: myfoodbag@linkmarketservices.co.nz
www.linkmarketservices.co.nz
AUSTRALIAN REGISTRY
Link Market Services Limited
Level 12, 680 George Street
Sydney NSW 2000
Australia
Ph: +61 1300 554 474
Email: myfoodbag@linkmarketservices.co.nz
www.linkmarketservices.com.au
My Food Bag Group Limited
N Z C N 6113 6 0 7
ARBN 646 807 301
MY FOOD BAG GROUP LIMITED INTERIM REPORT 2023
8

MY FOOD BAG GROUP LIMITED INTERIM REPORT 2023
9

Statement of
Financial Position
11
Statement of
Comprehensive Income
12
Statement of
Changes in Equity
13
Statement of
Cash Flows
14
Notes to the
Financial Statements
15
Review Report 22
Interim Financial Statements
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2022
10
MY FOOD BAG GROUP LIMITED
INTERIM REPORT 2023

Statement of Financial Position
AS AT 30 SEPTEMBER 2022
NZ$000Note
Unaudited
30 September
2022
Audited
31 March
2022
ASSETS
Current
Cash and cash equivalents13 45 , 913
Trade and other receivables475570
Inventories2,7732,608
Prepayments1,9331,799
Total current assets5,31510,890
Non-current
Property, plant and equipment4,4793,372
Intangible assets
5
8 5 ,19 784,889
Right-of-use assets11,2886,269
Other receivables214248
Total non-current assets101,17 894,778
Total assets106,493105,668
LIABILITIES
Current
Bank overdraft
7
3,567-
Trade and other payables13,44513,000
Deferred revenue3,4414,004
Lease liabilities2,2952,022
Other current liabilities1, 7221,089
Tax liability1 , 4 214,850
Total current liabilities25,89124,965
Non-current
Lease liabilities 10,3485, 576
Borrowings
7
2,4343 , 4 11
Deferred tax liability4,3954,556
Provisions250250
Total non-current liabilities17,42713,793
Total liabilities43,31838,758
Net assets6 3 ,17566,910
EQUITY
Share capital59,33659,336
Retained earnings3 , 7127, 5 74
Share-based payment reserve12 7-
Total equity6 3 ,17566,910
For and on behalf of the Board of Directors who authorised the issue of the financial statements on 17 November 2022.
Tony Carter
Chair
17 November 2022
Jen Bunbury
Director
17 November 2022
MY FOOD BAG GROUP LIMITED INTERIM REPORT 2023
11

12
NZ$000Note
Unaudited
6 months ended
30 September
2022
Unaudited
6 months ended
30 September
2021
Income
1
94,41098,441
Cost of sales(70,557)(72,598)
Gross profit23,85325,843
Marketing expenses(3,432)(2,883)
Financing expenses(648)(847)
Indirect expenses(11,653)(9,370)
Other income
1
6086
Net profit before tax8,18012,829
Income tax expense(2,302)(3,394)
Net profit after tax5,8789,435
Total comprehensive income5,8789,435
NZ$NZ$
Earnings per share
Basic and diluted earnings per share
3
0.020.04
Statement of Comprehensive Income
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2022
12
MY FOOD BAG GROUP LIMITED INTERIM REPORT 2023

Note
Share
capital
Retained
earnings
Share-based
payment
reserve
Total
equity NZ$000
At 1 April 202259,3367, 5 74-66,910
Net profit for the period-5,878-5,878
Total comprehensive income for the period-5,878-5,878
Dividend
4
-(9,740)-(9,740)
Share-based payments--12 712 7
At 30 September 2022 (Unaudited)59,3363,71212 76 3 ,175
At 1 April 202159,336(5,138)-5 4 ,19 8
Net profit for the period-9,435-9,435
Total comprehensive income for the period-9,435-9,435
At 30 September 2021 (Unaudited)59,3364,297-63,633
Statement of Changes in Equity
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2022
MY FOOD BAG GROUP LIMITED INTERIM REPORT 2023
13

Statement of Cash Flows
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2022
NZ$000Note
Unaudited
6 months ended
30 September
2022
Unaudited
6 months ended
30 September
2021
OPERATING ACTIVITIES
Cash was provided from:
Receipts from customers93,848100,017
Tax refund213-
Interest received447
Cash was applied to:
Payments to suppliers(81,899)(84,249)
Interest paid(624)(1,003)
Tax paid(6,101)(2,284)
Net cash flows from operating activities5,48112,488
INVESTING ACTIVITIES
Cash was provided from:
Proceeds from the sale of property, plant and equipment310
Cash was applied to:
Purchase of property, plant and equipment(1,484)(369)
Payments for development of software(1,327)(896)
Net cash flows from investing activities(2,808)(1,255)
FINANCING ACTIVITIES
Cash was provided from:
Proceeds from borrowings6,0003,000
Cash was applied to:
Principal payments on leases(1,279)(988)
Dividends paid
4
(9,740)-
Repayment of borrowings(7,000)(13,000)
Net cash flows from financing activities(12,019)(10,988)
Net increase / (decrease) in cash(9,346)245
Cash and cash equivalents at the beginning of the period5 , 9131,599
Net (bank overdraft) / cash and cash equivalents at the end of the period(3,433)1,844
Represented by:
Cash and cash equivalents13 41,844
Bank overdraft(3,567)-
Net (bank overdraft) / cash and cash equivalents at the end of the period(3,433)1,844
14
MY FOOD BAG GROUP LIMITED INTERIM REPORT 2023

Notes to the Financial Statements
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2022
General Information
Reporting Entity
My Food Bag Group Limited is a profit-orientated company incorporated and domiciled in New Zealand. My Food Bag Group
Limited is registered under the Companies Act 1993 and is an FMC reporting entity under the Financial Markets Conduct Act 2013.
My Food Bag Group Limited is listed on the NZX Main Board and as a Foreign Exempt Listing on the Australian Securities
Exchange (ASX).
The interim financial statements presented are for My Food Bag Group Limited and its wholly owned subsidiary My Food Bag Limited
(together referred to as “the Group”).
Basis of Preparation
STATEMENT OF COMPLIANCE
These interim financial statements have been prepared in accordance with IAS 34 Interim Financial Reporting and NZ IAS 34 Interim
Financial Reporting. They have also been prepared in accordance with Generally Accepted Accounting Practice (GAAP) applicable
to for-profit entities.
These interim financial statements do not include all the information and disclosures required in annual financial statements and
should be read in conjunction with the Group’s annual financial statements for the year ended 31 March 2022.
These interim financial statements are presented in New Zealand dollars (NZ$), which is Group’s functional currency, and rounded
to the nearest thousand dollars (NZ$000) unless otherwise stated.
ACCOUNTING POLICIES
The accounting policies applied in the preparation of these interim financial statements were consistent with those applied in the
Group’s annual financial statements for the year ended 31 March 2022.
KEY SOURCES OF ESTIMATION UNCERTAINTY AND KEY JUDGMENTS
In preparing these interim financial statements, the significant judgements made in applying the Group’s accounting policies and
the key sources of estimation uncertainty were consistent with those applied to the Group’s annual financial statements for the year
ended 31 March 2022.
SEGMENT REPORTING
The Group operates in one reportable segment being online meal kit and food delivery. This consists of creating and delivering meal
kits, pre-prepared ready-to-heat meals and grocery items to New Zealand consumers.
MY FOOD BAG GROUP LIMITED INTERIM REPORT 2023
15

Financial Information
1. Income
NZ$000
Unaudited
6 months ended
30 September
2022
Unaudited
6 months ended
30 September
2021
Contracts with customers94,41098,441
Total income94,41098,441
Interest income447
Other income1380
Gain / (Loss) on disposal of property, plant and equipment3(1)
Total other income6086
2. Expenses
Net profit before income tax has been arrived at after charging/(crediting) the following items:
NZ$000
Unaudited
6 months ended
30 September
2022
Unaudited
6 months ended
30 September
2021
Staff expenses
Salaries and wages8,2506,421
Defined contribution 2 21215
Share-based payment expense12 7-
Interest expense343568
Interest on leases305442
Fair value of derivatives-(179)
IT expenses1, 4281,13 9
Amortisation of intangible assets1, 019960
Depreciation of property, plant and equipment378256
Depreciation of right-of-use assets1,338979
3. Earnings per Share
Unaudited
6 months ended
30 September
2022
Unaudited
6 months ended
30 September
2021
Basic and diluted earnings per share
Net profit attributable to equity holders (NZ$000)5,8789,435
Weighted average number of shares on issue (000)242,438242,438
Basic and diluted earnings per share (NZ$)0.020.04
16
Notes to the Financial Statements (continued)
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2022
MY FOOD BAG GROUP LIMITED INTERIM REPORT 2023

4. Dividends
NZ$000
Unaudited
6 months ended
30 September
2022
Unaudited
6 months ended
30 September
2021
Final dividend for 2022 – 4.0 cents per share9,740-
DIVIDEND DECLARED AFTER THE REPORTING PERIOD
On 17 November 2022, the Board declared a fully imputed final dividend of 3.0 cents per share, to be paid on 15 December 2022
to shareholders on the company’s register on 30 November 2022.
5. Intangible Assets
NZ$000GoodwillBrandsSoftware
Software work
in progressTotal
Net book value at 30 September 2022 (Unaudited)63,63118,3572,76644385,197
Net book value at 31 March 2022 (Audited)63,63118,3572,62927284,889
IMPAIRMENT INDICATORS
The Group performs a detailed impairment assessment annually and considers indicators of impairment at each reporting date.
At 30 September 2022 no impairment indicators were identified.
6. Leases
The lease of the Group’s new assembly and distribution site in Christchurch commenced in April 2022. At the lease commencement
date the Group recognised a right-of-use asset and a corresponding lease liability of NZ$6,113,000.
MY FOOD BAG GROUP LIMITED INTERIM REPORT 2023
17
Notes to the Financial Statements (continued)
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2022

7. Borrowings
The Group’s net debt position is shown below.
NZ$000
Unaudited
30 September
2022
Audited
31 March
2022
Bank loan – non-current2,4343 , 4 11
Total borrowings2,4343,411
Less: cash and cash equivalents(134)(5,913)
Add: bank overdraft3,567-
Net debt /(cash)5,867(2,502)
FUNDING ARRANGEMENTS
The Group’s funding arrangements are shown below.
NZ$000
Unaudited
30 September
2022
Audited
31 March
2022
Revolving credit facility35,00035,000
Drawndown2,5003,500
Revolving credit facility – undrawn32,50031,500
Bank overdraft facility5,0005,000
Drawndown3,567-
Bank overdraft facility - undrawn1,4335,000
Total undrawn facilities33,93336,500
18
Notes to the Financial Statements (continued)
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2022
MY FOOD BAG GROUP LIMITED INTERIM REPORT 2023

8. Share-based Payments
Equity-settled share-based payments
The cost of equity-settled share-based payments is determined based on the grant date fair value of the award. The fair value
is estimated using a valuation model appropriate to the terms and conditions of the award.
The cost is recognised in Staff expenses, together with a corresponding increase in equity (Share-based payment reserve),
over the period in which the service condition and, where applicable, the performance measures are fulfilled.
At each reporting date the likelihood of the service condition, and where applicable, the Earnings per Share (EPS) performance
measure being met is reassessed. The cumulative expense through profit or loss and equity is adjusted to reflect the best estimate
of the number of share rights and performance share rights that will ultimately vest.
Therefore, on a cumulative basis, no expense is recognised for awards that do not ultimately vest because the service condition
or EPS hurdle have not been met. As the Total Shareholder Return (TSR) performance measure is reflected in the grant date fair
value, these awards are treated as vested, and the expense is recognised, irrespective of whether the TSR hurdle is achieved
(provided the service condition is met).
During the period, the Board approved an Employee Share Ownership Scheme (ESOS) and a Long-Term Incentive scheme (LTI)
for the year ending 31 March 2023. The key features of the schemes are as follows:
ESOS
Permanent employees working at least 30 hours per week are eligible to participate in the ESOS. Under the scheme,
participants are awarded restricted share rights of $3,000. The share rights vest after two years, subject to participants’ continued
employment with the Group. After 2 years, each share right converts to one ordinary share, at no cost to the employee. The ESOS is
an equity-settled share-based payment scheme.
LTI
The Senior Leadership Team and certain Key Operational Leaders are eligible to participate in the LTI. Under the scheme,
participants are awarded performance share rights based on a percentage of their base salary. Each performance share
right converts to one ordinary share, at no cost to the employee. The awards lapse if the performance hurdles are not met
or if the participant ceases to be an employee of the Group. The LTI is an equity-settled share-based payment scheme.
For the FY23 scheme the performance share rights vest after two years, subject to achievement of the following
performance measures:
• 50% of the rights vest based on continued employment with the Group (retention tranche),
• 50% of the rights vest based on continued employment with the Group and the relative Total Shareholder Return (TSR)
compared to the companies included the NZX 50 (TSR tranche).
The CEO is awarded performance share rights under the FY23 LTI (CEO’s award). The performance share rights awarded to the
CEO vest after two years, subject to achievement of the following performance measures:
• 50% of the rights vest based on continued employment with the Group and the earnings per share target achieved for the year
ending 31 March 2024 (EPS tranche),
• 50% of the rights vest based on continued employment with the Group and the relative TSR compared to the companies included
in the NZX 50 (TSR tranche).
MY FOOD BAG GROUP LIMITED INTERIM REPORT 2023
19
Notes to the Financial Statements (continued)
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2022

In September 2022 the CEO resigned from the Group and the performance share rights granted under CEO’s award were forfeited.
Number of rights outstandingESOSLTI
At 1 April 2022--
Granted385,5481,820,518
Forfeited(16,910)(624,013)
At 30 September 2022368,6381,196,505
VALUATION APPROACH
ESOS
The fair value of the restricted share rights is estimated based on the grant date share price less the present value of
expected dividends.
LTI
The fair value of performance share rights is estimated for each performance measure separately:
• The fair value of the TSR tranche of the performance share rights is estimated at the grant date using the Monte Carlo
simulation approach, taking into account the terms and conditions of the award.
• The fair value of the Retention tranche of the performance share rights, and the EPS tranche of the CEO’s award,
is estimated based on the grant date share price less the present value of expected dividends.
Key inputs in determining the fair values
Number of rights outstanding
Grant at
June 2022
Share price at grant date$0.83
Risk-free interest rate3.36%
Expected cash dividend yield8.6%
Expected share price volatility36.7%
Vesting period2 years
The expected share price volatility is based on historic data and the expected dividend yield is based on external market
expectations at grant date.
The grant date fair values of are shown below.
ESOSLTI
Grant date fair value$0.69$0.50
20
Notes to the Financial Statements (continued)
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2022
MY FOOD BAG GROUP LIMITED INTERIM REPORT 2023

9. Related Party Transactions
Key management personnel remuneration
Key management personnel comprise members of the Board and members of the Senior Leadership Team (SLT). In the period the
Board comprised five members (2021: five members) and the SLT comprised eight members (2021: eight members).
NZ$000
Unaudited
6 months ended
30 September
2022
Unaudited
6 months ended
30 September
2021
Short-term employee benefits1,6451, 429
Share-based payment transactions44-
Directors’ remuneration2402 11
Key management personnel remuneration1,9291,640
10. Contingent Liabilities
The Group has no contingent liabilities (31 March 2022: Nil).
11. Capital Commitments
In August 2022, the Group entered into a contract for the implementation of pick technology. The total contractual commitment
was EUR1,439,000 (NZ$2,467,000). Of this amount EUR432,000 (NZ$693,000) was paid in the six months ended
30 September 2022 and is included in property, plant and equipment. The remaining amount committed of EUR1,007,000
(NZ$1,726,000 based on the foreign exchange rate at 30 September 2022) is payable on the achievement of certain project
milestones that are expected to be completed within 12 months.
The Group has no other capital commitments (31 March 2022: Nil).
12. Non-GAAP financial information
The reconciliation of net profit before tax to earnings before interest, tax, depreciation and amortisation (EBITDA) is shown below.
NZ$000
Unaudited
6 months ended
30 September
2022
Unaudited
6 months ended
30 September
2021
Net profit before tax8,18012,829
Add: Depreciation and amortisation2,7352 ,19 5
Add: Net financing costs604824
EBITDA11 , 5 1 915,848
MY FOOD BAG GROUP LIMITED INTERIM REPORT 2023
21
Notes to the Financial Statements (continued)
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2022

Independent Auditor’s Review Report
To the Shareholders of My Food Bag Group Limited
CONCLUSION
We have reviewed the interim financial statements of My Food Bag Group Limited (“the Company”) and its subsidiaries
(together “the Group”) which comprise the statement of financial position as at 30 September 2022, and the statement
of comprehensive income, statement of changes in equity and statement of cash flows for the period ended on that date,
and a summary of significant accounting policies and other explanatory information. Based on our review, nothing has come
to our attention that causes us to believe that the accompanying interim financial statements of the Group do not present fairly,
in all material respects the financial position of the Group as at 30 September 2022, and its financial performance and its
cash flows for the period ended on that date, in accordance with New Zealand Equivalent to International Accounting Standard 34:
Interim Financial Reporting.
This report is made solely to the Company’s shareholders, as a body. Our review has been undertaken so that we might state to
the Company’s shareholders those matters we are required to state to them in a review report and for no other purpose. To the
fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company’s
shareholders as a body, for our review procedures, for this report, or for the conclusion we have formed.
BASIS FOR OPINION
We conducted our review in accordance with NZ SRE 2410 (Revised) Review of Financial Statements Performed by the Independent
Auditor of the Entity. Our responsibilities are further described in the Auditor’s Responsibilities for the Review of the Financial Statements
section of our report. We are independent of the Group in accordance with the relevant ethical requirements in New Zealand
relating to the audit of the annual financial statements, and we have fulfilled our other ethical responsibilities in accordance with
these ethical requirements.
Other than in our capacity as auditor we have no relationship with, or interest in, the Company the Group. Partners and employees of
our firm may deal with the the Group on normal terms within the ordinary course of trading activities of the business of the the Group.
DIRECTORS’ RESPONSIBILITY FOR THE INTERIM FINANCIAL STATEMENTS
The Directors are responsible, on behalf of the entity, for the preparation and fair presentation of the interim financial statements in
accordance with New Zealand Equivalent to International Accounting Standard 34: Interim Financial Reporting and for such internal
control as the Directors determine is necessary to enable the preparation and fair presentation of the interim financial statements that
are free from material misstatement, whether due to fraud or error.
A member firm of Ernst & Young Global Limited


Information other than the financial statements and auditor’s report
Those charged with governance are responsible for the Annual Report, which includes information other
than the financial statements and auditor’s report which is expected to be made available to us after the
date of this auditor’s report.
Our opinion on the financial statements does not cover the other information and we do not express any
form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other
information and, in doing so, consider whether the other information is materially inconsistent with the
financial statements or our knowledge obtained during the audit, or otherwise appears to be materially
misstated.
When we read the Annual Report, if we conclude that there is a material misstatement therein, we are
required to communicate the matter to those charged with governance and, if uncorrected, to take
appropriate action to bring the matter to the attention of users for whom our auditor’s report was
prepared.
Those charged with governance responsibilities for the financial statements
Those charged with Governance are responsible, on behalf of the entity, for the preparation and fair
presentation of the financial statements in accordance with Public Benefit Entity Standards Reduced
Disclosure Regime, and for such internal control as those charged with governance determine is
necessary to enable the preparation of financial statements that are free from material misstatement,
whether due to fraud or error.
In preparing the financial statements, those charged with governance are responsible for assessing on
behalf of the entity the Foundation’s ability to continue as a going concern, disclosing, as applicable,
matters related to going concern and using the going concern basis of accounting unless those charged
with governance either intend to liquidate the Foundation or cease operations, or have no realistic
alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that
includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an
audit conducted in accordance with International Standards on Auditing (New Zealand) will always detect
a material misstatement when it exists. Misstatements can arise from fraud or error and are considered
material if, individually or in the aggregate, they could reasonably be expected to influence the economic
decisions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the financial statements is located at the
External Reporting Board website: https://www.xrb.govt.nz/standards-for-assurance-
practitioners/auditors-responsibilities/audit-report-8/. This description forms part of our auditor’s report.


Chartered Accountants
Auckland
27 September 2019
22
MY FOOD BAG GROUP LIMITED INTERIM REPORT 2023

EY Sig.pdf 1 19/05/21 2:22 PM
A member firm of Ernst & Young Global Limited


Information other than the financial statements and auditor’s report
Those charged with governance are responsible for the Annual Report, which includes information other
than the financial statements and auditor’s report which is expected to be made available to us after the
date of this auditor’s report.
Our opinion on the financial statements does not cover the other information and we do not express any
form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other
information and, in doing so, consider whether the other information is materially inconsistent with the
financial statements or our knowledge obtained during the audit, or otherwise appears to be materially
misstated.
When we read the Annual Report, if we conclude that there is a material misstatement therein, we are
required to communicate the matter to those charged with governance and, if uncorrected, to take
appropriate action to bring the matter to the attention of users for whom our auditor’s report was
prepared.
Those charged with governance responsibilities for the financial statements
Those charged with Governance are responsible, on behalf of the entity, for the preparation and fair
presentation of the financial statements in accordance with Public Benefit Entity Standards Reduced
Disclosure Regime, and for such internal control as those charged with governance determine is
necessary to enable the preparation of financial statements that are free from material misstatement,
whether due to fraud or error.
In preparing the financial statements, those charged with governance are responsible for assessing on
behalf of the entity the Foundation’s ability to continue as a going concern, disclosing, as applicable,
matters related to going concern and using the going concern basis of accounting unless those charged
with governance either intend to liquidate the Foundation or cease operations, or have no realistic
alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that
includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an
audit conducted in accordance with International Standards on Auditing (New Zealand) will always detect
a material misstatement when it exists. Misstatements can arise from fraud or error and are considered
material if, individually or in the aggregate, they could reasonably be expected to influence the economic
decisions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the financial statements is located at the
External Reporting Board website: https://www.xrb.govt.nz/standards-for-assurance-
practitioners/auditors-responsibilities/audit-report-8/. This description forms part of our auditor’s report.


Chartered Accountants
Auckland
27 September 2019
AUDITOR’S RESPONSIBILITIES FOR THE REVIEW OF THE INTERIM FINANCIAL STATEMENTS
Our responsibility is to express a conclusion on the interim financial statements based on our review. NZ SRE 2410 (Revised)
requires us to conclude whether anything has come to our attention that causes us to believe that the interim financial statements,
taken as a whole, are not prepared in all material respects, in accordance with New Zealand Equivalent to International Accounting
Standard 34: Interim Financial Reporting.
A review of interim financial statements in accordance with NZ SRE 2410 (Revised) is a limited assurance engagement. We perform
procedures, consisting of making enquiries, primarily of persons responsible for financial and accounting matters, and applying
analytical and other review procedures. The procedures performed in a review are substantially less than those performed in an
audit conducted in accordance with International Standards on Auditing (New Zealand) and consequently do not enable us to
obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do
not express an audit opinion on those interim financial statements.
The engagement partner on the review resulting in this independent auditor’s review report is Brent Penrose.
Chartered Accountants
Auckland
17 November 2022
Independent Auditor’s Review Report (continued)
MY FOOD BAG GROUP LIMITED INTERIM REPORT 2023
23

myfoodbag.co.nz
MY FOOD BAG GROUP LIMITED INTERIM REPORT 2023

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2
Chief Executive Officer
My Food Bag Group Limited FY23 Half Year Result
Chief Financial Officer (Interim)

My Food Bag Group Limited FY23 Half Year Result4

My Food Bag Group Limited FY23 Half Year Result
*EBITDA is a non-GAAP measure. A reconciliation from GAAP NPBT to non-GAAP EBITDA can be found in the appendices.
REVENUE
$
94.4m
EBITDA
$
11.5m
NPAT
$
5.9m
49.3%
5
AOV
$
129.0
INTERIM DIVIDEND
3.0cps
GROSS MARGIN %

My Food Bag Group Limited FY23 Half Year Result6
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My Food Bag Group Limited FY23 Half Year Result
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My Food Bag Group Limited FY23 Half Year Result13
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*EBITDA is a non-GAAP measure. A reconciliation from GAAP NPBT to non-GAAP EBITDA can be found in the appendices.

My Food Bag Group Limited FY23 Half Year Result18
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My Food Bag Group Limited FY23 Half Year Result19
* Highvalueactivecustomersare definedascustomerswhohavetakenatleast20 deliveriesintheprevious12 months

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MyFoodBagGroupLimitedFY23 HalfYearResult*Gross margin is a non-GAAP measure defined as revenue less cost of goods sold (including free marketing goods)21
FPIMFB Group
Improved
relative
affordability
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**MFB group increase reflects weighted average price movement. FPI (Food Price index) taken from stats NZ Food price index: October 2022 | Stats NZ
**

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My Food Bag Group Limited FY23 Half Year Result*Contribution margin is a non-GAAP measure defined as revenue less cost of goods sold (including free marketing goods) less direct costs (assembly and distribution expenses).22

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My Food Bag Group Limited FY23 Half Year Result23
eNPS
17.46

*EBITDA is a non-GAAP measure. A reconciliation from GAAP NPBT to non-GAAP EBITDA can be found in the appendices.
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My Food Bag Group Limited FY23 Half Year Result
*EBITDA is a non-GAAP measure. A reconciliation from GAAP NPBT to non-GAAP EBITDA can be found in the appendices.
26

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My Food Bag Group Limited FY23 Half Year Result28
FY23 Trading conditions and outlook

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My Food Bag Group Limited FY23 Half Year Result32

My Food Bag Group Limited FY23 Half Year Result33

This presentation has been prepared by My Food Bag Group Limited (the “Company” and, together with My Food Bag
Limited, "My Food Bag") and is dated 18 November 2022. Receipt of this document and/or attendance at the corresponding
presentation given on behalf of the Company constitutes acceptance of the terms of this disclaimer.
Information
This presentation contains summary information about My Food Bag and its activities, which is current as at the date of this
presentation. The information in this presentation is of a general nature and does not purport to be complete nor does it
contain all the information which an investor may require when evaluating an investment in the Company. This presentation
has been prepared to provide additional commentary on the half year financial statements of the Company for the period
ending 30 September 2022. It should be read in conjunction with those financial statements and the Company's other periodic
and continuous disclosure announcements, available on the NZX and ASX or My Food Bag's investor website.
Forward looking information
This presentation may include certain “forward-looking statements” about My Food Bag and the environment in which My
Food Bag operates. These forward-looking statements may be identified by words such as ‘forecast’, 'projections', ‘anticipate’,
‘believe’, ‘estimate’, ‘expect’, ‘will’, ‘plan’, ‘may’, ‘could’ and similar expressions.
Forward-looking information is inherently uncertain and subject to contingencies, known and unknown risks and uncertainties
and other factors, many of which are outside of My Food Bag's control, and may involve elements of subjective judgement and
assumptions as to future events which may or may not be correct. A number of important factors could cause actual results or
performance to differ materially from the forward-looking statements.No assurance can be given that actual outcomes or
performance will not materially differ from the forward-looking statements.The forward-looking statements are based on
information available to My Food Bag as at the date of this presentation. Except as required by law or regulation (including the
Listing Rules), the Company is under no obligation to update this presentation whether as a result of new information, future
events or otherwise.
No liability
The information contained in this presentation has been prepared in good faith by My Food Bag. No representation or
warranty, expressed or implied, is made as to the accuracy, adequacy or reliability of any statements, estimates or opinions or
other information contained in this presentation, any of which may change without notice.
To the maximum extent permitted by law, My Food Bag, its directors, officers, employees and agents disclaim all liability and
responsibility (including any liability arising from fault or negligence on the part of My Food Bag, its directors, officers,
employees and agents) for any direct or indirect loss or damage which may be suffered by any person through the use of or
reliance on anything contained in, or omitted from, this presentation. This presentation is not a product disclosure statement,
prospectus, investment statement or disclosure document, or an offer of shares for subscription, or sale, in any jurisdiction.
Not financial product advice
This presentation is for information purposes only and is not financial or investment advice or a recommendation to acquire the
Company’s securities. Before making an investment decision, you should consider the appropriateness of the information
having regard to your own objectives, financial situation and needs and consult a financial adviser, solicitor, accountant or
other professional adviser, if necessary.
Past performance
Any past performance information given in this presentation should not be relied upon as (and is not) an indication of future
performance. No representations or warranties are made as to the accuracy or completeness of such information.
Non-GAAP financial information
This presentation includes non-GAAP financial information, includingEBITDA, which is a non-GAAP financial measure. A
reconciliation from GAAP NPBT to non-GAAP EBITDA can be found in the appendix to this presentation. Non-GAAP financial
information have not been separately audited but have been derived by management from My Food Bag’s reviewed half year
financial statements for the period ended 30 September 2022. EBITDA is a measure used extensively by the Board and
management as an indication of underlying profitability, however, as a non-GAAP measure it is provided for illustrative
purposes only and caution should be taken as other companies may calculate this measure differently.
Distribution of presentation
This presentation must not be distributed in any jurisdiction to the extent that its distribution in that jurisdiction is restricted or
prohibited by law or would constitute a breach by the Company of any law. The distribution of this presentation in other
jurisdictions outside New Zealand or Australia may be restricted by law, and persons into whose possession this presentation
comes should observe any such restrictions.
All currency amounts are in New Zealand dollars unless otherwise stated.
This presentation has been authorisedfor release by the Company’s Board.
My Food Bag Group Limited FY23 Half Year Result34