Annual Shareholders Meeting Presentation and Results

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PGG WRIGHTSON LIMITED
ANNUAL SHAREHOLDERS’ MEETING – HYBRID
9.30am, Tuesday, 15 October 2024

Slide 1 – Meeting Opening Slide



Slide 2 – Welcome – Introduction



Slide 3 – How to participate in the Hybrid Meeting (Q&A)

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Slide 4 – How to participate in the Hybrid Meeting (Voting)



Slide 5 – Board of Directors


The PGW Board had one change to its membership during the year.

U Kean Seng relinquished the role as Acting Chair, and Garry Moore assumed the role
of Chair on the 16
th
of February 2024.

We also have:
• Deputy Chair, Sarah Brown.
• Independent Director, Meng Foon, and
• Director, U Kean Seng
• Independent Director, Dr Charlotte Severne is an apology for today’s meeting.

Slide 6 – Executive Team

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Slide 7 – In Memoriam



Before we start the formalities of the meeting, I would like to recognise the loss PGW
experienced in April this year with the passing of Grant Edwards, General Manager
Wool. Grant dedicated 40 years to the business and his leadership will leave a lasting
influence. As a stalwart of wool, his passion for the industry was unwavering. Highly
regarded by his peers, Grant was a member and chair of various industry bodies.
Grant’s strength was navigating industry politics to ensure outcomes were good for
growers, the wool industry, and the business.

I also want to acknowledge the very sad passing of Victor Schikker, a valued member
of our livestock team, who passed away in August, having given nearly 50 years of
quality service to the business and our clients. Victor was a company man who
progressed through the ranks to become a specialist dairy rep. As the Mid Canterbury
IHC Calf Scheme Coordinator, Victor put countless hours in canvassing, tagging,
scanning, selling calves and helping to raise hundreds of thousands of dollars for Mid
Canterbury and the IHC.

Slide 8 – Opening Formalities



Apologies

Notice of Meeting

Minutes

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Annual Report & Sustainability Report 2024

The financial statements and the reports of the directors and auditors, for the year
ending 30
th
of June 2024 are set out in the company’s annual report.

On the 17
th
of September 2024, the annual report was posted on PGW’s website and
our NZX page, and a copy of the report has been sent to shareholders who had
requested one.

We also released our Sustainability Report for the year ending 30 June 2024 which
provides our stakeholders with a view of our sustainability performance and activities
over the past financial year, including our climate related disclosures. Reporting on
sustainability is a crucial component of our commitment to transparency. This is the
third year that PGW has formally reported on sustainability as part of our annual
reporting processes, and it is the first year of mandatory reporting under the New
Zealand climate-related disclosures legislation. The Sustainability Report is available on
our website.

This year was the first occasion for the release of a standalone Sustainability Report
publication alongside our Annual Report.

GAAP and non-GAAP Performance Measures

We will refer to both GAAP and non-GAAP performance measures. We use Operating
Earnings Before Interest, Tax, Depreciation and Amortisation or ‘Operating EBITDA’ as
a key measure of performance and I encourage you to refer to our full accounts for
details of how this relates to GAAP measures.

Proxies and Postal Votes

856 shareholders have appointed proxies for the purposes of this meeting in respect of
approximately 41 million shares.

Slide 9 – Business of the Meeting – Chair’s Address

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Slide 10 – Chair’s Address



Firstly, I would like to briefly address the corporate governance issues that arose earlier
this year, as I consider those events require some comment. You may recall that Agria
served a requisition notice in February, requesting that a special shareholders meeting
be convened to consider resolutions seeking a number of board changes. The
requisition followed several days of discussion between the Independent Directors and
Agria, and as we noted at the time, the Independent Directors were disappointed that a
formal and public process was initiated given that we did not consider that was in the
best interests of PGW, nor PGW’s shareholders as a whole.

It is well understood that the agricultural sector has been going through a difficult period
of cycle with many farmers and growers facing challenges. Accordingly, the timing of
the formal requisition during this period was unfortunate and disruptive from a market
perception perspective. We saw this reflected in the media reporting of the matter and
in our share price, as these events eroded confidence in the stability of PGW’s
governance and ownership.

I do not consider that there is benefit in going into the detail today regarding the
background and discussions that took place at the time. However, I will say that Agria’s
withdrawal of the requisition notice on 22 March was welcomed, together with the
confirmation that the current composition, and the majority of the membership of the
Board, continue to have an appropriate balance of expertise, skills, and independence
to lead the company positively.

Slide 11 – FY24 Financial Year Performance Results & Sustainability Highlights

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I will now comment on our financial performance and sustainability initiatives.

Financial year performance for the financial year ended 30 June 2024:

I note that it was a challenging year for the sector and PGW:

• Operating revenue of $915.9 million was down $59.7 million or minus 6.1 per cent
on the prior year.

• Gross profit of $235.7 million was down $17.1 million or minus 6.8 per cent on the
prior year.

• Our Operating EBITDA of $44.2 million, down $17.0 million or minus 27.8 per cent
on the prior year.

• Net profit after tax of $3.1 million, down $14.5 million or minus 82.5 per cent on the
prior year.

• Net Cash Flow from Operating Activities of $57.7 million was better by $32.2 million
or up 126 per cent on the prior year.

Sustainability highlights for the financial year ended 30 June 2024:

• A 16 per cent reduction in greenhouse gas emissions since FY21.

• 100 per cent of PGW sites are supplied by renewable electricity.

• Two thirds of PGW’s vehicle fleet renewal options are hybrid, and we expect to see
a proportional increase of hybrid vehicles in our fleet as leases renew over time.

The agricultural sector continues to navigate challenging market conditions, and this
cyclical volatility is reflected in PGW’s financial results.

This is largely a product of the economic environment and is being felt across the
agricultural sector. We often say that PGW prospers when our farmer and grower
clients do well. Our clients have faced difficult conditions over the past year and
consequently this is shared in our results.

PGW has done well to continue to maintain share in the markets in which we operate,
however, we have seen farmers and growers cutting back where they can and deferring
discretionary spending.

We continue to strive to support our clients with all their essential production
requirements, but the sector is in the grips of a period of austerity, where non-essential
and discretionary spend have been paused in many cases. Despite the challenging
environment our receivables have held up well, and gross margins have also largely
remained steady across the business.

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While most of the agricultural sector has been impacted, some subsectors have been
hit very hard. Sheep farmers experienced soft export demand and weaker commodity
pricing, and the rural real estate market has gone through a particularly quiet period.

No dividends were declared in FY24, as the result of the difficult trading conditions
impacting the primary sector and wider economy. In that context we sought a prudent
approach of maintaining working cashflow.

Slide 12 – Group Operating EBITDA



PGW’s Operating EBITDA of $44.2 million was down $17 million on the prior year’s
result, which was back on the strong results of recent years.

Retail & Water experienced a drop in demand as farmers and growers reduced their
spend due to the challenging economic conditions.

Livestock was also impacted by subdued market conditions, including significantly lower
sheep prices.

It was a stable year for wool business with solid pricing, although there is significant
scope for much needed value growth in wool.

The rural Real Estate market experienced a particularly challenging year with a
subdued market and farm sales significantly down on recent years.

Our operating expenditure investment in our company-wide Business Improvement
Programme continued.

The results are largely a product of the economic environment which are being felt
keenly across the agricultural sector.

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Slide 13 – Group Revenue



Revenue of $915.9 million was down $59.7 million from the prior year.

This six per cent decline in revenue represents the first drop in PGW’s revenue since
the sale of the PGG Wrightson Seeds business in 2019.

The Retail & Water businesses accounted for the majority of this revenue decline.

There also remains a carry-over effect from the devastation caused by Cyclone
Gabrielle last year, with some areas not yet replanted.

Slide 14 – Group Net Profit After Tax



The NPAT of $3.1 million was down $14.5 million from FY23. This included the negative
impact of a one-off non-cash $0.9 million deferred tax expense, due to the change in
legislation for tax depreciation on long-life commercial buildings.

Margins were broadly in line with the prior year.

I’ll now ask Stephen Guerin, our Chief Executive Officer, to provide an operational
overview.

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Slide 15 - 16 – Chief Executive Officer’s Review





Thank you, Garry, ata mārie, and good morning, everyone. I am delighted to be here
with you today.

PGW recorded operating cash flows during the year of $57.7 million, which was $32.2
million higher than the prior year. The key drivers of the higher operating cashflows
were a reduced GO-STOCK balance from that recorded in June 2023, and lower
income tax payments.

Cash was also preserved with no dividend declared in FY24. There has been increased
focus within PGW on cost control.

Capital expenditure of $22.8 million was $5.7 million higher than the prior comparative
period. This spend included the continued investment in our IT System Business
Improvement Programme, and the acquisition of our co-owner's half-share of the
Frankton saleyards in Waikato.

Our net interest-bearing debt was $59.2 million as at 30 June 2024, a reduction of $6.1
million from the prior comparative period. Excluding our Go-STOCK Receivables, our
net interest-bearing debt was $6.7 million.

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PGW renewed and extended its syndicated bank facilities during the year through to
February 2026. These facilities provide extended term and working capital limits, and
allow for potential growth in our GO-STOCK book.

At 30 June 2024, PGW had 1,565 permanent and temporary employees, and 334
casual and commission agents, totalling 1,899 people.

We recognise that our people are our greatest asset, and we are focused on driving a
culture of excellence and safety, ensuring employees are supported, engaged, and able
to perform at their best.

We refreshed our People and Safety Strategy to prioritise future workforce needs,
aimed at attracting and retaining talent.

We maintain our commitment to developing our workforce, through targeted investment
in competency-based, and technical skills training. Our core leadership programme has
continued, and this year we launched new Management Skills training.

In the past year, our commitment to enhancing our safety culture has continued to be a
priority. To strengthen our foundation in workplace safety, we partnered with Impac
Training to deliver a programme focusing on Health, Safety, and Wellbeing
Fundamentals. We also created Safety Induction training, Mental Fitness at Work, and
online modules to address critical risk controls.

Management of critical risks is a priority, and significant progress has been made in
defining safe practice expectations. While it is important for our people to understand
the impact of decisions they make, we have worked closely with the business to create
a ‘no blame’ culture, and feedback from this year’s Safety and Wellbeing Survey shows
real improvement in this area.

Slides 17 – Sustainability Progress



Sustainability at PGW is a space that has matured significantly in recent times. As a
business, we have deliberately put in place structures to achieve progress across the
Environment, Social, and Governance aspects of our operations.

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Climate change influences PGW through impacts on our clients and impacts on our
day-to-day operations. We recognise that climate change will continue to impact the
business and likely intensify going forward.

We will continue to prepare for and manage these impacts on our business in order to
support our clients, and the wider agricultural and horticultural industries, with climate
change challenges.

PGW is pleased to have released its first standalone Sustainability Report this year
which includes reporting under the New Zealand climate-related disclosures legislation.
Our report expands our business transparency and furthers our understanding of
climate related risks and opportunities.

Proactively addressing these risks and opportunities will enhance the resilience of our
business, and ensure we are prepared for a changing future. This also provides further
transparency to our stakeholders, and greater visibility to the climate-related aspects of
our sustainability journey.

I will now discuss our technical highlights.

Slide 18 – 2024 Group Technical Highlights



Technical expertise and innovation are woven into the fabric of our business. Our
Customer Focused Innovation strategic pillar focuses on identifying opportunities to
offer innovative solutions through science and systems.

Some of the technical highlights achieved over the year include the following:

• We launched SkyCount™, our cutting-edge solution for efficient and accurate
livestock auditing. I will comment further on SkyCount™ a little later in my
presentation.

• A summer R&D Internship Programme was established where university students
undertake research and perform field trials providing us with beneficial information
while the students learn about PGW and the agricultural sector.

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• Through partnering with A Lighter Touch, PGW supports the sector to move away
from agrichemicals and towards an agro-ecological approach which provides
sustainable crop protection.

• FY24 was the first year of our Crowd / Staff Sourcing programme where staff pitch
issues their clients are facing to the R&D Team and the Team devises trial
programmes to develop tangible solutions.

Slides 19 – Business Unit Financial Results



Turning now to the performance of our two operating groups, Retail & Water and
Agency.

Slides 20 to 21 – Retail & Water

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The Retail & Water business incorporates Rural Supplies, Fruitfed Supplies, Water, and
Agritrade. Retail & Water’s Operating EBITDA was a $41.0 million, down $13.1 million
on the prior year. Revenue was $733.6 million, back $51.7 million from the prior year.

Our Retail & Water business, along with many others in the agricultural sector had a
challenging financial year, and experienced a drop in demand with farmers and growers
alike reducing their spend levels in response to market conditions. This is due to
multiple influences impacting the market such as adverse weather conditions,
aggressive competitor pricing, low farmer confidence levels, and economic uncertainty
with interest rates, farmgate returns, inflationary pressures, and subdued commodity
prices.

Despite the more challenging market conditions, our retail business continued to
consolidate market share in most categories. Even in these difficult times, client
feedback and market research indicators support the view that PGW is on the right
track, and compares favourably in the market with regard to our professionalism,
technical knowledge, and service.

When budgets are tight, we understand the heightened need for our clients to optimise
value from their spend. In that context, our focus on providing the best technical advice
and expertise along with leading innovation becomes even more important and
differentiates our client proposition.

Over the course of the year the Retail & Water business refreshed its five-year strategy.
Underpinning our strategy is the strength of our offering and core competency in
agronomy categories, along with our sustainability credentials.

A reduction in sheep and beef numbers has created a tighter market. High farm input
costs and lower sheep returns affected farmer profitability, which impacted our sales.

We currently have a strong footprint in horticultural R&D, and we are moving to extend
this capability into the rural servicing parts of our business with product focused R&D.
This initiative fits well with our strategy of delivering technical know-how and value add
to our customers, who increasingly look to PGW to fulfil this role of facilitating leading
innovation. Initial R&D trials have been selected and work has begun in this area.

In January 2024, our Takaka store suffered significant damage as a result of a fire in
the neighbouring building. PGW is a key part of the town and local community, and we
are pleased to have recently made progress partially reopening the site after working
from temporary premises, with full remediation work awaiting council approval.

We continue to invest in our store network, with the opening of the new Timaru Retail
and Water stores, and a new bulk store extension in Geraldine. These new
developments provide improved working environments that benefit both our people and
our clients.

These developments further demonstrate our commitment to support farmers and
growers throughout regional New Zealand.

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Even in the trading conditions we have experienced in recent times, our Fruitfed
Supplies network has continued to set the standard in the market. The business
achieved its best performance in Crop Monitoring Services, and our Ag-Chem category
recorded its second highest sales year.

The impacts of Cyclone Gabrielle continue to be felt. A number of our clients in the
Gisborne and Hastings areas lost large portions of their crops in 2023, therefore less
inputs were required in the new season. Some clients lost their entire season’s crop last
year, impacting their cash flows and income.

Returns for some crops have been softer over the past year. The apple, avocado and
kiwifruit industries have experienced reduced returns. The drop in returns resulted in
reduced spending in some product lines. Despite a good harvest, yields for wine
growers were lower with this year’s harvest back 21 per cent on last year’s tonnage.

Economic pressures constrained spend on irrigation system upgrades. With less
transactional activity the Water team took the opportunity to engage with clients. Our
Service team spent time fostering relationships through on-farm conversations and
advising on irrigation audits.

Agritrade, our wholesale business division, experienced a solid financial year. There
has been a strong focus on improving our operations within the business, through
optimising the logistics function, encouraging bulk ordering, and inventory reduction to
concentrate on preferred product lines.

Due to lower incidence in facial eczema in livestock over the past season, there were
fewer sales of our proprietary Time Capsule bolus treatment, which impacted our
Agritrade performance.

Slides 22 to 23 – Agency

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Our Agency group incorporates the Livestock, Wool and Real Estate businesses.
Operating EBITDA was $12.3 million and was down $3.8 million on the prior year’s
strong result. Revenue was $180.7 million, which was broadly in line with the prior year.

Our Livestock business was impacted by the tougher macro-economic conditions.
Elevated inflationary pressures and input costs led to more conservative purchasing
from farmers and a reduction in bull sales. Sheep prices were back significantly due to
subdued export demand from China and increased supply from Australia. These factors
combined to reduce commission revenue.

Lower stock volumes were traded in the North Island, as feed surplus throughout much
of the year led to farmers holding stock for longer. Whereas cattle trading was robust in
the South Island, with tallies up slightly compared to the prior fiscal year as drier
conditions led to increased stock turnover.

Whilst pressure on sheep pricing is anticipated to continue into the current financial
year, there is an expectation we will see robust trading across the major stock types as
farmer confidence improves.

We saw continued growth in our meat processor partnerships with increased volumes
and terms negotiated across all our key procurement arrangements.

Innovation
I’d like to comment briefly on several areas of innovation where PGW has been leading
the way in developing new options and solutions in the farming sector.

GO-STOCK
The first of this is our GO-STOCK grazing programme that we have offered for several
years now, and which is continuing to see positive demand. GO-STOCK frees up
capital for farmers allowing them to invest in other areas of their businesses. Robust
returns were generated from GO-STOCK and the programme continues to prove
popular with sheep, beef, dairy and deer farmers.

bidr®
Another business offering is bidr®, our leading online platform for livestock trading. Our
bidr® database of buyers continued to show steady development. This growth is driven
by continued demand for online bidding and livestreaming of cattle sales at saleyards
and on-farm auctions, with especially strong demand in livestock genetics markets.

We have regular livestreaming from 13 saleyards around the country and a growing
number of on-farm auctions with over 950 auctions streamed during the year. Our bidr®
business strategy was also reviewed and refreshed over the course of the year. New
markets and user functionality will be explored in the next year to underscore the
benefits that bidr can bring to agricultural markets and to extend our auction footprint
further.

SkyCount™
Lastly, SkyCount™ is another exciting new offering that has been under development
and has just recently been launched at National Fieldays at Mystery Creek. SkyCount™
is our cutting-edge solution for fast and accurate livestock auditing. Utilising advanced
drone technology and sophisticated AI, SkyCount™ offers precise livestock counts

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without impacting on farm operations, enhancing efficiency, reducing workload for staff,
and minimising stress on animals, while ensuring reliable results.

SkyCount™ integrates aerial imagery and AI software to conduct livestock audits at a
new level of speed, accuracy, and efficiency. This is an exciting new application for the
technology that PGW is proud to be leading and which we believe will over time
transform the manner in which on-farm livestock audits are undertaken. Please watch
the following brief video clip profiling SkyCount™.

Slides 24 – SkyCount™ Video

[play video]

Slides 25 – Agency


Returning to our operational summary, I note that the season delivered a degree of
stability for growers with prices for some wool types approaching three-year highs,
although significant scope for value growth for wool remains an industry priority. Merino
wool met steady competition from fine wool buyers with solid prices. Crossbred wools
finished the season with some positive signs.

Our wool exporting subsidiary, Bloch & Behrens Wool (NZ) Limited, saw increased
interest in their flagship Wool Integrity NZ™ brand offering, including some well-known
local brands coming onboard.

A review of the leadership and operating structure of our PGW Wool business was
initiated during the year. The leadership team has now been realigned with a view to
implementing a refreshed and future focused strategy for the Wool business.

It has been a particularly challenging year for the rural real estate market. Momentum in
this market remains subdued, with farm sales significantly down on the prior year. The
economic climate has impacted farm and agricultural land prices and produced a
mismatch between vendor and purchaser expectations.

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Sheep and beef property sales were slower due to low farmgate returns. The dairy
sector saw some momentum with increased interest in the dairy properties listed
following the uplift in the forecast farmgate milk price.

Macroeconomic conditions have also impacted the lifestyle market. This has been
keenly felt in the North Island, however the South Island held up reasonably well.

Our share of the real estate market has held up despite the challenging conditions that
have been felt across the industry.

Slides 26 to 27 – First Quarter FY2025





The winter period was generally milder with good soil moisture levels across the
country. Cold and wet snaps plagued the provinces through September and into early
October, when several spring storms blew through. In particular, Otago and Southland
experienced flooding, having already received a period of sustained wet conditions
leading up to this event.
These conditions have required farmers to off load some stock to maintain pasture and
assist spring grass growth. There have been reports of widespread and significant
lamb losses with morale negatively impacted. PGW is playing its part in supporting
clients through the various initiatives led by Rural Support Trust and other industry
bodies.

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Soil moisture levels have started to see some drier conditions in eastern areas in the
North Island, as we headed into the critical planting windows.

We are beginning to see some indicators of green shoots of recovery in some sectors,
which are coming through activity in the business. We have seen solid trading over the
first quarter of the financial year, though I should note that we are just now entering the
crucial spring selling window for our retail business, so it remains early days.

There is ongoing focus and efforts in controlling our costs.

I will now hand you back to Garry to discuss the outlook.

Slides 28 to 29 – Outlook



I will now provide an update on our current outlook.

Looking ahead, the rural servicing market in New Zealand remains relatively
challenged. Geopolitical tensions are contributing to cautiousness in the market and a
slower than expected recovery in New Zealand’s key export market, China continues to
dampen commodity prices.

Sheep farmers are facing challenging market conditions with soft returns. Sheep
numbers are estimated to have reduced by 4.3 per cent, down to 23.3 million, with
breeding ewe and trading sheep stock numbers falling. The lamb processing season
has got underway in recent days with all eyes are on export returns given the focus on
the pre-Christmas processing for northern hemisphere markets for Christmas and the
Chinese New Year. The difficulties faced in the sheep meat market were brought home
in the recent announcement of proposed job losses and closure of Alliance’s Smithfield
freezing works in Timaru.

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There are however a few positive indicators that I would note that suggest we are
perhaps starting to see the start of a turnaround:

• Confidence has been returning to the dairy sector with Fonterra lifting their forecast
milk payout range in September.

• This confidence is seeing increased enquiry and activity in our Real Estate business
for dairy and dairy support properties, in particular.

• Beef prices are strong with export demand supporting a positive outlook. We are also
seeing a greater number of calves being reared as farmers look to meet this
demand.

• Horticultural crops saw good quality yields in the past season with Kiwifruit seeing
some 50 million more trays than the previous year. While grape crop yields were
back, they were of exceptional quality. These factors bode well for confidence
returning to the horticulture sector as growers receipt payment from their export
markets.

Given these mixed signals, and the fact that we remain very early in the key spring
growing season, we remain cautious about the financial year ahead. Currently we are
forecasting an Operating EBITDA for the year to 30 June 2025 of around $51 million.
However, we will be in a better position to reassess our forecast again after the spring
trading period.

Slides 30 to 31 – Questions and Discussion

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Time for questions.

Slide 32 – Business of the Meeting – Resolution



We now come to the formal business of the meeting being ordinary resolutions in
relation to the election of two directors and authorising the Board of Directors to fix the
remuneration of our auditors.

The resolutions and accompanying explanatory notes are set out in the Notice of
Meeting. As usual we offered shareholders the option to cast their votes on meeting
business by mail, email, online, and in person today. The proposed resolutions will be
determined by a poll that will be undertaken by our share registrar, Computershare.

Slides 33 to 34 – Ordinary Resolution One: Re-election of Dr Charlotte Severne

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The first resolution relates to the re-election of Dr Charlotte Severne as an independent
director. Charlotte’s biographical notes are set out in the Notice of Meeting.

Charlotte joined the PGW Board on the 18
th
of June 2021.

Dr Charlotte Severne being eligible, offers herself for re-election.

Unfortunately, Charlotte couldn’t be with us today. However, she has sent me the
following note:

“Tēnā koutou katoa, sorry I can’t be there with you today, but I wanted to say a few
words. I am very honoured to be standing again for PGG Wrightson. The company has
managed to perform well with challenging headwinds in the agri-sector. I am excited by
the innovative products and opportunities that are being progressed across multiple
business units in the organisation. I believe I have more to contribute to this wonderful
company and its people. Thank you for your support and hope I get to represent you all
again for another term.”

The Company’s Directors wish to note the specific expertise and experience that
Charlotte brings to the Board as noted in her biographical notes in the Notice of Meeting
and recommend shareholders vote in favour of Charlotte’s re-election.

Slides 35 to 36 – Ordinary Resolution Two: Re-election of U Kean Seng

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The second resolution relates to the re-election of U Kean Seng as a director. U Kean’s
biographical notes are set out in the Notice of Meeting.

U Kean Seng is a current Director and joined the PGW Board on the 4
th
of December
2012.

U Kean Seng being eligible, offers himself for re-election.

The Company’s Directors wish to note the specific expertise and experience that U
Kean Seng brings to the Board as noted in his biographical notes in the Notice of
Meeting and recommend shareholders vote in favour of U Kean Seng’s re-election.

Slides 37 to 38 – Ordinary Resolution Three: Auditor’s Remuneration




The third ordinary resolution is to authorise the Board of Directors of PGW to fix the
auditors' remuneration for the financial year for the purposes of section 207S of the
Companies Act 1993. As is usual with audit fees it is impractical to fix the remuneration
at the beginning of the year.

Accordingly, the Board of Directors is seeking authority from the shareholders of the
company to fix the audit fees at the appropriate time.

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Slide 39 – Move Resolution


Thank you.

I will now move that the Resolutions 1, 2, and 3 as set out in the Notice of Meeting by
way of three separate motions as ordinary resolutions.

A poll will be conducted in respect of the resolutions.

The results of the voting on the resolution will be released on NZX later today.

Slide 40 – General Business



The meeting is now open for general business. Are there any further matters for
discussion or questions?

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Slide 41 – Disclaimer & Closing



[Closing]


Slide 41 –Thank You

---

PGG Wrightson Ltd | NZX Announcement
15 OCTOBER 2024
Annual Shareholders’ Meeting Results
At PGG Wrightson Limited’s
1
hybrid 2024 Annual Shareholders’ Meeting held today, shareholders were
asked to vote on three resolutions, which were all supported by the Board.

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

All resolutions passed with majorities and details of the total number of votes cast were as follows:

Resolution For Against Abstained
1. To consider and, if thought fit, to re-elect as an
Independent Director, Dr Charlotte Severne.
50,520,141
(99.72%)
140,332
(0.28%)
14,073
2. To consider and, if thought fit, to re-elect as a
Director, U Kean Seng.
44,040,253
(87.16%)
6,485,147
(12.84%)
149,146
3. To note the reappointment of Ernst & Young
as the Company’s auditor and authorise the
Directors to set the auditor’s remuneration.
50,359,394
(99.43%)
• 289,026
(0.57%)
26,126

Authority for this announcement
Name of person authorised to make this
announcement

Julian Daly
General Manager Corporate Affairs /
Company Secretary
Contact person for this announcement Julian Daly
Contact phone number 0800 10 22 76 / +64 3 477 4520
Contact email address jdaly@pggwrightson.co.nz
Date of release through MAP 15/10/2024

For media enquiries contact Registered Office
Julian Daly
General Manager Corporate Affairs /
Company Secretary
PGG Wrightson Limited
Phone: 0800 10 22 76 / +64 3 477 4520
Email: companysecretary@pggwrightson.co.nz
PGG Wrightson Limited
1 Robin Mann Place, Christchurch Airport
Christchurch 8053, New Zealand
Phone: 0800 10 22 76 / +64 3 477 4520
Website: pggwrightson.co.nz



1
All references to PGG Wrightson Limited refer to the company, its subsidiaries and interests in associates and
jointly controlled entities.