Annual Meeting Presentation

EBOS Group Limited. NZBN 9429031998840
108 Wrights Road, Addington, Christchurch, New Zealand, 8024
Level 7, 737 Bourke Street, Docklands, Victoria, Australia, 3008
Phone: +61 3 9918 5555, Fax: +61 3 9918 5588.
www.ebosgroup.com



23 October 2024
NZX/ASX Code: EBO


EBOS GROUP LIMITED 2024 ANNUAL MEETING
Please see attached the Chair's speech, CEO's speech and presentation materials for the Annual
Meeting of shareholders to be held today.

Authorised for lodgement with NZX and ASX by the Board of EBOS Group Limited
For further information, please contact:
Martin Krauskopf
Executive General Manager, Strategy and M&A
EBOS Group Limited +61 3 9918 5555

Chair’s address to shareholders

I am pleased to report on another strong result for EBOS for the 2024 financial year which saw
us adapt positively to the changing market dynamics and capitalise on opportunities to drive
future growth.

This result continues our long-term growth trajectory in delivering value for our shareholders
with our success underpinned by the extraordinary efforts of our more than 5,200 employees
who continue to serve, with unwavering commitment, to our communities across New Zealand,
Australia and Southeast Asia.
We operate in what continues to be an uncertain macroeconomic and political environment
both domestically and internationally. The defensive and diversified nature of our portfolio of
businesses continues to provide us with both growth and stability notwithstanding the impact
of cost-of-living pressures across the economy.
Over the past 10 years we have continued to diversify and grow our business with over 20
acquisitions across medical technology, retail pharmacy, medical consumables and animal
care. Consistent with this strategy of investing for growth, FY24 has been another period of
active investment.
We completed the acquisition of New Zealand’s Superior Pet Food Company in July 2023, and
we also acquired four small bolt-on businesses in the Medical Technology and Medical
Consumables sectors across ANZ and Southeast Asia. We also increased our shareholding in
Transmedic, our leading independent medical devices distributor in Southeast Asia, to 90% and
entered into arrangements that will facilitate us moving to 100% ownership in FY26.

We have continued to invest in our supply chain capabilities and operations. Over the past 12
months, we have either completed or initiated a number of major projects in both New Zealand
and Australia.

Most notably, our Healthcare Logistics business in Australia opened a new purpose built, state-
of-the-art pharmaceutical grade Contract Logistics facility in Sydney, New South Wales. As part
of our commitment to sustainability, this world class site is equipped with many features
including a 4,000-panel roof-mounted solar array, a 165,000-litre underground rainwater
storage tank, smart lighting, a waste recycling system, and 10 electric vehicle charging stations.
We are working towards having this facility certified as a 6-Star Green Star Building by the Green
Building Council of Australia.

Our consistent growth track record is underpinned by several diverse strategies across the
Group which are summarised on this slide.

These include the continued growth of our TWC network; growth of our Medical Technology
business across Australia, New Zealand and Southeast Asia; continuing to grow our contract

logistics share in Australia; and in our Animal Care segment, continuing to bring to market
strong new product and brand initiatives.

EBOS’s purpose, ‘advance opportunities to enrich lives’ applies not only to customers, patients
and the communities we serve but also to our over 5,200 employees.

As part of our integrity training schedule, and our commitment to fostering safe, inclusive, and
respectful workplaces, we have provided mandatory training on our Code of Ethics,
Whistleblower Reporting, Rights and Protections, and Anti-bullying and Anti-harassment.
Furthermore, we have updated our policy on Workplace Discrimination, Harassment & Bullying
to reflect best practice.

To develop our leaders of tomorrow, our senior leadership program, Catalyst, connects EBOS’
leaders of today with our emerging talent to build the capability, courage and confidence of all
participants through learning, coaching, and networking opportunities.

The welfare and safety of employees continues to be a major focus and the Group’s Work
Health & Safety management system focuses on strong leadership and accountability for
workplace safety policies and practices.

The Group Safety Committee, chaired by the CEO, oversees relevant policies and initiatives,
including training, critical risk management and advancing the use of technology to mitigate
risks. Operating divisions report monthly performance data to senior management and the
Board receives monthly and annual reports on key metrics and other key initiatives being
undertaken by our safety teams.

Our Environmental, Social and Governance or ESG program supports our purpose to advance
opportunities to enrich lives with a number of initiatives and projects across our businesses.
In FY24, we continued to develop our Carbon Reduction Plan, which sets out the Group’s
strategy for responding to climate-related risks and opportunities as we transition to a low-
carbon economy.

As part of our commitment to achieve zero reported scope 1 and 2 emissions after offsets in
FY27, we are constructing a solar array at our pet food manufacturing facility in Parkes, NSW. In
FY24, the first phase of our solar array project was completed with the electrification of the new
500-kilowatt roof-mounted solar array. Our focus has now turned to the installation of a
significant ground-mounted array in Parkes that is expected to generate approximately 5
megawatts of clean energy.

Our grocery brands are also on track to commence their transition to more sustainable
packaging in 2025 by eliminating hard to recycle plastics to meet industry expectations and
anticipated government regulations.

Another important area of our ESG program is the enhancement of safeguards to protect
against social risks. We commenced embedding proactive risk management measures in

relation to modern slavery and other social risks as part of our ethical sourcing framework. In
addition, we continue to have the appropriate focus and work programs to protect our data and
systems to emerging and dynamic threats.

Together with other aspects of our corporate strategy, the Board oversees the development and
implementation of our ESG Program as part of its commitment to sound corporate governance.
Business ethics are central to leadership and decision making at EBOS, as outlined in our
Corporate Governance Code which was most recently updated in October 2023.

We encourage shareholders to read further information on our ESG Program which is contained
in our 2024 Sustainability Report.

Consistent with EBOS’ Board renewal process, independent director Peter Williams will retire
with effect from the conclusion of today’s meeting. We will be acknowledging Peter’s service
later in today’s proceedings.

Peter’s retirement is part of a carefully considered succession process that includes the
appointments of Mark Bloom and Julie Tay as independent directors during the last two years
and today’s resolution for the election of Matt Muscio as a director.

We are also in the final stages of appointing an additional non-executive Australian resident
director in the near term as part of the overall Board renewal process.

The Directors announced a final dividend of NZ 61.5 cents per share. In combination with the
interim dividend, this brings total dividends declared for FY24 to NZ 118.5 cents per share
representing an increase of 7.7% on the previous year.

To all our shareholders, thank you for your ongoing support and trust in the Board, executives
and employees of EBOS.
I again acknowledge the contribution of all our employees across New Zealand, Australia and
Southeast Asia.

To John and his executive team, thank you for your extraordinary commitment to our company
and your energy in continually looking for ways to drive EBOS forward.

I will now hand over to John for a more in-depth review of the operational performance of the
business.

Thank you.

CEO’s Address to Shareholders

Kia Ora and thank you Liz.

May I also extend a warm welcome to everyone attending today’s Annual Meeting here in
Auckland, as well as to those joining us online.

Today, I’m pleased to provide a review of the company’s performance for the 2024 financial
year, as well as some insights into current trading conditions.

Before doing so I would like to show a video that captures our key highlights and activities from
the past 12 months.

(A copy of the video will be made available on the EBOS website)

As you can see it’s been another year of high activity across EBOS and should you wish to learn
more about our business then I encourage you to read both our 2024 Annual and Sustainability
Reports which are available online.

The Group once again generated strong performances in both our Healthcare and Animal Care
segments driven by continued organic growth as well as several strategic investments.

Key highlights included:

• Strong earnings growth, with Underlying EBITDA increasing by 7.3% on the prior year;
• The TerryWhite Chemmart (TWC) network continued to grow, reaching 600 stores
across Australia;
• New products were launched across our Black Hawk and VitaPet brands;
• Return on capital employed was in line with our target and historical norms; and
• We increased dividends to shareholders by just under 8%.
In FY24, the Group’s revenue exceeded $13 billion for the first time, up 7.8% on the prior year.
This was driven by growth in both our Healthcare and Animal Care segments, including strong
performances from our Community Pharmacy, Institutional Healthcare and Animal Care
divisions.

EBOS recorded Underlying EBITDA of $624.3 million, representing 7.3% growth, and Underlying
NPAT of $303.4 million, representing 7.7% growth.

As Liz referenced earlier, our FY24 performance continues EBOS’ long term track record of
delivering strong and consistent results. Over the last 10 years, we have grown both earnings
and dividends per share on a compound annual growth rate of more than 10%.

Our Healthcare segment delivered a solid performance with Revenue and Underlying EBITDA
growth of 8% and 6% respectively. The strong performance was driven by organic growth
across each of our Community Pharmacy, TWC and Institutional Healthcare businesses.

In terms of our geographic regions, our Australian Healthcare business grew Revenue and
Underlying EBITDA by 8% and 9.4% respectively.

The Community Pharmacy business continued its strong performance, recording revenue
growth of just under $500 million (or 6.8%) and GOR growth of $31.8 million (up 4.9%).

Approximately 12 months have passed since the commencement of the Australian
Government’s policy allowing pharmacists to dispense 60 days’ supply of PBS medicines,
compared to previous limits of 30 days’ supply. The impact to our Community Pharmacy
business was broadly offset in FY24 by the government providing a corresponding increase to
the Community Service Obligation or CSO funding pool.

The current CSO deed by which our Australian business operates has recently been extended
whilst we finalise discussions with the Government on arrangements for the first Pharmacy
Wholesaler Agreement. This Agreement, when concluded, will ensure that every Australian
continues to have timely, reliable and safe access to their PBS medicines and vaccines across
the nation. We remain confident that the upcoming agreement will fully reflect the value our
Symbion wholesale business provides in supplying essential medicines to the Australian
community.

Moving to other components of our Healthcare operations I am pleased to report that our
Institutional Healthcare business’ solid performance was driven by growth in both our Symbion
Hospitals and Medical Technology businesses.

Symbion Hospitals recorded strong revenue growth driven by both gains in market share and
sales of high value specialty medicines, whilst our Medical Technology business’ growth was
driven by our spine, implant, aesthetics and allograft channels.

Our Contract Logistics business in Australia continues to generate growth through new and
existing principals, whilst in New Zealand, the business was impacted by the fall in demand for
the storage and servicing of COVID-19 related products.

Despite cost pressures during the year, Healthcare’s Underlying EBITDA margin remained
broadly in-line with the prior year, with the business benefitting from operational efficiencies.

Our TWC business continued its impressive growth, further strengthening its position as
Australia’s largest health advice community pharmacy network, recently opening its 600th
store. The opening of the 600th store in July this year highlights the continued success of the
TWC brand under our ownership, and further demonstrates the strength and momentum of the
franchise amongst professional community pharmacists.

Turning now to our Animal Care segment.

Animal Care generated double digit EBITDA growth of $13 million (up 13.2%) driven by the
strong performance of our branded businesses.

The branded business was supported by ongoing resilience in the pet food category, the
contribution of the Superior acquisition, which has performed strongly during its first year under
our ownership, and new product development launches.

This growth was partially offset by softness in discretionary categories such as accessories and
the wholesale business.

In line with our Animal Care growth strategy, several new product launches occurred in FY24.
Our new product development strategy is designed to leverage the strength of our brands,
manufacturing capabilities and retailer relationships, to expand into new product categories
where we see growth potential.

In September 2023, we launched Black Hawk’s new Healthy Benefits dry dog food range –
developed by animal nutritionists and vets to address common health concerns in dogs.

VitaPet’s new dry dog food range was launched during the year into major supermarkets in both
Australia and New Zealand, and tapping into the humanisation of pet food trends, several new
treats were also launched under the VitaPet brand.

In another major development, Black Hawk launched a new and improved range of Black Hawk
dry and wet cat food meals. Available in pet specialty channels and vet clinics, the products
feature premium ingredients, supported by comprehensive consumer research.

Earlier the Chair referred to our ESG Program and the range of initiatives in place. In addition to
these initiatives, EBOS has strived to ‘help out’ by providing support to various healthcare,
animal care and community focussed charities. Across New Zealand and Australia, we proudly
continue to support the work of Ovarian Cancer Australia, Back Track, LandSAR, Fight MND, the
Cerebral Palsy Alliance, the Australian Prostate Centre and Guide Dogs Australia.

We also extend support to employees who raise funds for registered health and animal welfare
charities, via the EBOS Match Funding policy.

Before I conclude I would like to share an update on several near-term strategic initiatives
which are providing us with momentum in FY25.

First, the Group has demonstrated over a long period of time its capability in generating organic
growth and we expect that dynamic to continue as we benefit from the diversified nature of our
operations.

Second, in light of the changed dynamics in the Australian community pharmacy industry, we
are targeting $300m in new pharmacy revenues, and thirdly, we continue to make solid
progress with our cost efficiency exercise that has identified between $25 to $50 million of cost
savings over FY25 and FY26.

Finally, we will continue to pursue strategic acquisitions and we see many opportunities across
our Healthcare and Animal care segments to further broaden the Group’s scale.

In closing, I would now like to provide a brief commentary on our year-to-date trading
performance, and we have had a solid start to the year with Underlying EBITDA growth recorded
for the three months to 30 September of approximately 7.5% when compared to the prior
corresponding period, adjusted to exclude the earnings from the Chemist Warehouse Australia
contract.

We reiterate our earnings guidance for FY25 that the Group expects to generate Underlying
EBITDA of between $575m-$600m.

I would like to thank the members of my executive team and our 5,200 employees across New
Zealand, Australia and Southeast Asia for their continued dedication in delivering the diverse
range of products and services to the communities we serve.

Finally, as we heard from Liz, Peter Williams will retire as a director at the conclusion of today’s
meeting. May I take this opportunity to personally thank you Peter for your support during my
time with the Group – particularly in my role as CEO.

Thank you for your attention ladies and gentlemen, and for your ongoing support as
shareholders. I’ll now hand back to Liz to continue with the formal matters of this meeting.

Thank you.

ANNUAL
MEETING
23 October,2024

DISCLAIMER
The information in this presentation was prepared by EBOS Group Limited (“EBOS” or the “Group”) with due care and attention. However, the information is
supplied in summary form and is therefore not necessarily complete, and, to the extent permitted by law, no representation ismade as to the accuracy,
completeness or reliability of the information. In addition, neither EBOS nor any of its subsidiaries, directors, employees, shareholders nor any other person
shall have liability whatsoever to any person for any loss (including, without limitation, arising from any fault or negligence)arising from this presentation or
any information supplied in connection with it.
This presentation may contain forward-looking statements and projections. These reflect EBOS’ current expectations, based on what it thinks are reasonable
assumptions. To the extent permitted by law, EBOS gives no warranty or representation as to its future financial performance or any future matter. Except as
required by law or NZX or ASX listing rules, EBOS is not obliged to update this presentation after its release, even if things change materially. This
presentation does not constitute financial advice. Further, this presentation is not and should not be construed as an offer to sell or a solicitation of an offer to
buy EBOS securities and may not be relied upon in connection with any purchase of EBOS securities.
This presentation contains a number of non-GAAP financial measures, including Gross Profit, Gross Operating Revenue, EBITDA, EBITA, EBIT, NPAT, Underlying
EBITDA, Underlying EBIT, Underlying NPAT, Underlying Earnings per Share, Free Cash Flow, Underlying Cash from Operating Activities, Underlying Free Cash
Flow, Net Debt, Net Debt : EBITDA and Return on Capital Employed. Because they are not defined by GAAP or IFRS, EBOS’ calculation of these measures may
differ from similarly titled measures presented by other companies and they should not be considered in isolation from, or construed as an alternative to,
other financial measures determined in accordance with GAAP. Although EBOS believes they provide useful information in measuringthe financial
performance and condition of EBOS' business, readers are cautioned not to place undue reliance on these non-GAAP financial measures.
The information contained in this presentation should be considered in conjunction with the consolidated financial statementsfor the full year ended 30 June
2024. All currency amounts are in Australian dollars unless stated otherwise. All amounts are presented inclusive of IFRS16 Leases, except for periods FY19
and prior, unless stated otherwise. Underlying results exclude the impact of one-off items, including the amortisation (non-cash) expense attributable to the
LifeHealthcare acquisition purchase price accounting of finite life intangible assets.
2

WELCOME
2024 Annual Meeting
3

HOW TO PARTICIPATE IN VIRTUAL MEETING
4
Shareholder and Proxyholder Q&A participation
If you have a question to submit during the live
meeting, please select the Q&A tab on the right
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Written questions
The Q&A tab can also be used for immediate
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Help

HOW TO PARTICIPATE IN VIRTUAL MEETING
5
Online voting
Once the voting tab has been opened, the
resolutions and voting options will allow voting.
To vote, simply click on the Vote tab, and select
your voting direction from the options shown
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once or by each resolution.
Your vote has been cast when the tick appears.
To change your vote, select ‘Change your vote’.
Shareholder and Proxyholder voting

INTRODUCING
Our Board
6

BOARD OF DIRECTORS
Elizabeth Coutts
7
Dr Tracey Batten
Introducing our Board
Mark Bloom
Stuart McLauchlanJulie Tay
Peter Williams
Independent
Chair of the
Board. Joined
2003. Appointed
Chair 2019.
Independent
Director. Joined
2021.
Independent
Director. Joined
2022.
Independent
Director. Joined
2019.
Independent
Director. Joined
2023.
Independent
Director. Joined
2013.

01
Presentation: Elizabeth Coutts, Chair
02
Presentation: John Cullity, CEO
03
Business of meeting
04
Conclusion
AGENDA
8

Elizabeth Coutts
Chair
PRESENTATION
9

INVESTING FOR GROWTH
Acquisitions
10
1
Three acquisitions completed throughout FY24 and 1 acquisition completed in July 2024.
Operational infrastructure investments
Consistent with our strategy of investing for growth, EBOS made multiple acquisitions and investments in FY24 to support
future growth.
TargetBusiness UnitRegion
Previously announced
Transmedic (39%)Medical TechnologySoutheast Asia
SuperiorAnimal CareNew Zealand
Four small bolt-on
acquisitions
1
Medical Technology and
Medical consumables
distribution
ANZ and Southeast Asia
InvestmentLocationCompletion timing
Contract logistics DCsAuckland, SydneyFY24
Medical consumables DC’s
Sydney, Melbourne,
Auckland
FY24, FY25, FY25
Pharmaceutical wholesale DCAucklandFY25
New Contract Logistics DC, Sydney.

Community PharmacyInstitutional HealthcareContract LogisticsAnimal Care
Strategic
priorities
✓Continued growth of
TWC network
✓Win newwholesale
customers
✓Operational
efficiencies
✓Increased exposure to
specialist medicines
✓Medical Technology
growth in ANZ
andSoutheast Asia
✓Increased presence of
own-brand
consumables
✓Grow share in
Australia
✓Drive utilisationin
new facilities
✓Maintain a leading
position in NZ
✓Continue to build and
develop strong
brands
✓Strong NPD pipeline
✓Leverage in-house
manufacturing
Success factors
to drive
growth
✓Best-in class network
✓High service levels
✓Working capital
management
✓Strength and tenure
of customer and
supplier relationships
✓Broad product
offering
✓High service levels
✓Healthcare focused
3PL/4PL provider
✓High quality
accredited facilities
✓Trusted brands
✓Scale in attractive
segments
✓Partner of choice for
vet clinics
DIVERSE AND WELL-ESTABLISHED GROWTH STRATEGIES
11
EBOS has multiple organic and inorganic growth drivers across the Group that are well established.

OUR PEOPLE AND SAFETY
12
We strive to build an engaged, diverse and talented workforce at EBOS.
•EBOS Group Workplace Discrimination,
Harassment & Bullying policy updated.
•Catalyst and Talent Council
•Safety in the workplace continues to be a
major focus for EBOS and was further
strengthened by the support of the Group
Safety Committee.
•Almost 60% of eligible employees now
participate in our employee share plan.
Highlights

SUSTAINABILITY AND COMMUNITY
13
•Environmental Stewardship
•Reducing building related Scope 1 and 2 Greenhouse Gas (GHG) emissions.
•First phase of solar array project complete with electrification of new 500kW roof-
mounted solar array at Parkes, NSW.
•Ethical Sourcing
•Published 2023 Modern Slavery Statement in August 2023, with 2024 statement to be
released shortly.
•Sustainable Packaging
•Grocery brands on track to commence transition to more sustainable packaging.
•Climate Statement
•First Climate Statement will be released by the end of October 2024.
•Our People
•Commenced First Nations Pilot Employment Program in partnership with a labour hire
partner.
•Updated our anti-discrimination, harassment and bullying policy.
Our key initiatives

BOARD RENEWAL
•Under the Board renewal process, Peter Williams will retire as a director at the conclusion of today’s
meeting.
•Carefully considered succession with appointments of Julie Tay and Mark Bloom.
•Matthew Muscio will today seek election as a director of the Company with effect from 1 January 2025.
•Final stages of appointing an additional non-executive Australian resident director in the near term.
14

DIVIDEND
•EBOS’ Directors announced a final FY24 dividend of NZ 61.5 cents per share.
•The final dividend was fully franked for Australian taxation purposes and imputed to 25%
for New Zealand taxation purposes.
Final dividend
15
The New Zealand company tax rate is 28%. Therefore, a dividend that is partially imputed with 25% of the maximum allowable imputation credits implies an 8.86% imputation
percentage in relation to the gross taxable amount of the dividend.
•Taking the full-year dividend to NZ 118.5 cents per share, an increase of 7.7% on the prior
year.
Full year

John Cullity
Chief Executive Officer
PRESENTATION
16

VIDEO
17

•Strong organic earnings growth.
•Continued strong earnings in Healthcare and Animal Care.
•TWC franchise network continued expansion reaching 600 stores across Australia.
•New products successfully launched under Black Hawk and VitaPet brands.
•ROCE in line with target.
•Increased dividends to shareholders.
•Focus on cost management – reduction in operating expenses as a percentage of revenue.
18
Revenue
$13.2b
+7.8%
FY24 financials
EBITDA
1
$624.3m
+7.3%
NPAT
1
$303.4m
+7.7%
Note 1: Represents underlying results.
EPS (cents)
1
157.9
+6.8%
FY24 GROUP HIGHLIGHTS
EBOS records another year of strong growth as we adapt to the changing market dynamics and capitalise on opportunities
to drive future growth.

FY24 GROUP SUMMARY RESULTS
19
$mUnderlyingVarStatutoryVar
Revenue13,189.1

7.8%13,189.1

7.8%
EBITDA624.3

7.3%605.6

6.5%
EBIT521.7

7.7%476.7

7.4%
Net Profit After Tax303.4

7.7%271.5

7.2%
Earnings Per Share (cents)157.9c

6.8%141.3c

6.3%
Total Dividends (NZ cents)118.5c

7.7%

LONG TERM TRACK RECORD
20
Return on capital employed (%)
Underlying EBITDA
1
($m)
Summary
✓Double-digit earnings growth.
✓Dividend growth and stable payout ratio.
✓Disciplined focus on working capital
management and cash flow generation.
✓ROCE in-line with target.
✓Strong balance sheet; gearing within target
range.
DPS (NZ$ cents per share)
Net Debt : EBITDA
3
Underlying EPS
1
(cents per share)
EBOS has delivered consistent financial performance over the long term
14.7% CAGR
2
10.8% CAGR
2
In-line with15% target
Strong balance sheet
Notes:
1.Underlying EBITDA and Underlying EPS are presented inclusive of IFRS 16 Leases except for periods FY19 and prior.
2.CAGR calculation is inclusive of FY15-FY24.
3.Net Debt : EBITDA is calculated in accordance with banking covenants and excludes IFRS 16 lease impacts.
10.3% CAGR
2
1 2
2
22
25
262
6
6
4
5 2
624
FY
15
FY
16
FY
1
FY
1
FY
1
FY
2
FY
21
FY
22
FY
2
FY
24
66

6

4
1 1
115
1
14
15
FY
15
FY
16
FY
1
FY
1
FY
1
FY
2
FY
21
FY
22
FY
2
FY
24
14.6
16.
1 .1
16.
15.
1 .1
1 .
1 .6
15.1
15.
FY15FY16FY1 FY1 FY1 FY2 FY21FY22FY2 FY24
1.5 x
1.1 x
1. x
1. 4x
1.41x
1.11x
. 5x
1. 4x
1.52x
1. x
FY15FY16FY1 FY1 FY1 FY2 FY21FY22FY2 FY24
4
5
6
6
2


6
11
11
FY
15
FY
16
FY
1
FY
1
FY
1
FY
2
FY
21
FY
22
FY
2
FY
24

FY24 HEALTHCARE PERFORMANCE
21
$mFY24FY23VarVar%
Revenue12,610.011.676.6933.58.0%
Underlying EBITDA548.0517.031.06.0%
Underlying EBITDA%4.35%4.43%-8bp
•Healthcare’s strong performance was driven by organic growth.
•Solid performances across our Community Pharmacy, TWC and
Institutional Healthcare businesses.
•Our Australian Healthcare business grew Underlying EBITDA by
9.4%.
•Despite cost pressures, Underlying EBITDA margins remained
broadly in-line, with the business benefitting from operational
efficiencies.
•New Zealand performance was impacted by a decline in non-
recurring COVID-19 activity within our Contract Logistics business.
The Healthcare segment delivered solid revenue and earnings growth despite the current macroeconomic environment.
Underlying EBITDA ($m and %)

TERRYWHITE CHEMMART
•Australia’s largest health-advice
oriented community pharmacy
store network.
•600
th
store opening in July.
•Named ‘Inside Retail Retailer of
the Year’.
1
•Maintained position as
Australia's largest provider of
pharmacy administered
vaccinations.
Highlights
22Note1 – Medium to large business category.
Continued strong growth of the TerryWhite Chemmart network.

FY24 ANIMAL CARE PERFORMANCE
23
$mFY24FY23VarVar%
Revenue579.0560.818.23.2%
-Branded Revenue
321.7292.429.310.0%
-Wholesale Revenue
257.4268.5(11.1)(4.1%)
Underlying EBITDA112.299.113.013.2%
Underlying EBITDA%19.4%17.7%170bp
•Animal Care revenue increased by $18.2m (3.2%) and
Underlying EBITDA increased by $13.0m (13.2%) due
to strong performance from our branded business.
•The branded business delivered double-digit revenue
growth driven by ongoing resilience in the food
category, the contribution of the Superior acquisition
and new product development launches, partially
offset by softer demand in discretionary categories
such as accessories.
•The recently acquired Superior business has
performed strongly in its first year under EBOS
ownership.
•Underlying EBITDA margin improved again reflecting
relative performance of higher margin businesses, Pet
Care Kitchen production efficiencies and the successful
mitigation of cost inflation.
The Animal Care segment delivered double-digit Underlying EBITDA growth driven by the performance of higher margin
businesses and the contribution from the Superior acquisition.
Underlying EBITDA ($m and %)
5 .
6 .4
.
.1
112.2
1 .6
1 .
14.
1 .
1 .4
FY2 FY21FY22FY2 FY24
Underlying EBITDAUnderlying EBITDA

NEW PRODUCT DEVELOPMENT UPDATE
Existing core branded portfolio
24
Consistent with our Animal Care growth strategy, several new product development launches occurred in FY24 diversifying
our product offering and complementing our strong existing core products.
Recent new products brought to market and category expansion
Dry adult dog food
Dog treats
Black Hawk Healthy Benefits
VitaPet food – grocery
Black Hawk cat food extension
Superior dog rolls and treats

SUPPORTING OUR COMMUNITIES
EBOS is proud to support the following organisations:
25
Black Hawk officially partnered with Guide Dogs Australia
For many years, EBOS has strived to ‘help out’ by providing support to various healthcare, animal care and community
focussed charities.

NEAR-TERM GROWTH STRATEGY
Illustrative FY24 to FY25 underlying EBITDA
26
We are making solid progress on the key focus areas of our near-term strategy to increase earnings.
Growth sourcesDescription
Base business growth
•TheGroup is expected tocontinue to record positive
organic growth, excludingthe CWA contract
New Community
Pharmacy revenue
opportunities
•We are targeting ~$300m+ new pharmacy wholesale
revenue in light of changed industry dynamics
Cost reduction
initiatives
•EBOS is undertaking a cost reduction program to
optimise the Group’s cost base
•~$25-50m of costs savings identified over the next 1-2
years, which will assist offsetting an increasing cost base
to support business growth
M&A
•M&A remains a strategic focus, targeting acquisitions
that further strengthen our core business and diversify
and grow our earnings
1
2
3
4
FY24 Underlying
EBITDA
Non-renewal of
CWA contract
FY25
EBITDA growth
FY25 Underlying
EBITDA
1
2
3

TRADING UPDATE
27
•EBOS has had a pleasing start to the FY25 financial year with Underlying EBITDA
1
growth recorded for the
three months to 30 September 2024 of 7.4% compared to the prior corresponding period (excluding the
CWA contract).
2
•EBOS reiterates its guidance for FY25 that the Group expects to generate Underlying EBITDA
1
of between
$575m to $600m.
Notes:
1.Underlying EBITDA excludes amounts that are considered one off or non-recuring items.
2.FY25 Year to date results are for the three months ended 30 September 2024 and are unaudited.

BUSINESS
OF
MEETING
2024 Annual Meeting
28

ITEM 1
Annual Report and Financial Statements
To consider and receive the annual report and the financial statements for the year
ended 30 June 2024 and the audit report thereon.
29

ITEM 2
Resolution 1 – Election of Director
It is resolved that Matthew Muscio be elected as a director of the Company, with
effect from 1 January 2025.
Mr Muscio agreed to be put forward for election by shareholders as a non-executive
director of EBOS, with effect from 1 January 2025.
Mr Muscio has significant skills and experience, particularly in the healthcare sectors
in Australia, New Zealand and Southeast Asia.
Mr Muscio was appointed as Managing Director & Chief Executive Officer of
LifeHealthcare in August 2015 which was then listed on the ASX. He remained as
Chief Executive Officer and continued to successfully lead the business following its
acquisition by private equity in 2018 and subsequent acquisition by EBOS in May
2022. Prior to this, he worked for 13 years at Johnson & Johnson in its orthopaedics
business. Mr Muscio is a former director of the Medical Technology Association of
Australia and a number of EBOS subsidiaries.
Mr Muscio holds a Bachelor of Business (International Business) from the Queensland
University of Technology and a post graduate degree in management from the
Melbourne Business School.
30

ITEM 3
Resolution 2 – Re-election of Director
It is resolved that Tracey Batten be re-elected as a director of the Company.
Dr Batten (MBBS, MHA, FRACMA, MBA, FAICD) was appointed as a director on 1 July
2021. She is a member of the Remuneration Committee.
Dr Batten is currently chair of the Accident Compensation Corporation, and is a non-
executive director of Medibank Private Limited and Nanosonics Limited. She was
previously a non-executive director of National Institute of Water and Atmospheric
Research, Abano Healthcare Group Limited and various other healthcare related
research institutes, charities and industry and government bodies.
During her executive career Dr Batten was Group CEO of Imperial College Healthcare
NHS Trust in the United Kingdom, Group CEO of St Vincent’s Health Australia, CEO of
Eastern Health and CEO of Dental Health Services Victoria.
31

ITEM 4
Resolution 3 – Re-election of Director
It is resolved that Elizabeth Coutts be re-elected as a director of the Company.
Ms Coutts (ONZM, BMS, FCA) was appointed as a director on 3 July 2003. She is
Chair of the Remuneration Committee and a member of the Audit and Risk
Committee.
Ms Coutts is also currently Chair of Oceania Healthcare Limited and 2degrees Group
Limited, Director of EBOS Group subsidiaries in New Zealand and Member, Marsh
New Zealand Advisory Board.
She is also a former Chair of Skellerup Holdings Limited, Ports of Auckland Limited,
Meritec Group, Industrial Research, Life Pharmacy Limited, former director of Air New
Zealand Limited, the Health Funding Authority, Sanford Limited, the Yellow Group of
Companies and Tennis Auckland Region Incorporated, former Deputy Chairman of
Public Trust, former board member of Sport NZ, former member of the
Pharmaceutical Management Agency (Pharmac), former Commissioner for both the
Commerce and Earthquake Commissions, former external monetary policy adviser to
the Governor of the Reserve Bank of New Zealand, a former president of the Institute
of Directors Inc and former Chief Executive of the Caxton Group of Companies.
32

ITEM 5
It is resolved that, pursuant to NZX Listing Rule 2.11.1 and ASX Listing Rule 10.17, the total remuneration for non-executive directors be
increased by $166,750 from $1,643,250 per annum to $1,810,000 per annum with effect from 1 July 2024.
Resolution 4 – Non-executive director remuneration
The table below sets out the director and Committee fees and other elements of the proposed fee pool expressed on a per annum basis as at 30June 2024,
the expected fee allocations should the increase in the fee pool be approved, and the amount of the increase proposed.
All amounts expressed in New Zealand dollars.
The amounts are inclusive of superannuation contributions (if applicable).
33
OfficerCurrentXPost Shareholder
Approval
Amount of
proposed increase
Chair$352,800$380,000$27,200
Director (other than Chair)$176,400$185,000$8,600
Chair of Audit & Risk Committee$42,000$43,000$1,000
Chair of Remuneration Committee$34,650$39,000$4,350
Member of Audit & Risk Committee $21,000$21,500$500
Member of Remuneration Committee$17,325$19,500$2,175
Special Exertion fee pool$78,750$78,750$Nil
UnallocatedN/A$77,250$77,250

ITEM 6
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Resolution 5 – Auditor’s remuneration
•Deloitte is automatically reappointed as the auditor of the Company under section 207T of the Companies Act 1993.
It is resolved that the directors of the Company be authorised to fix the fees and expenses of Deloitte as auditor of the Company.

ITEM 7
To consider any other business that can be properly brought before the meeting.
35

36
FAREWELL AND THANK YOU
Peter Williams
•Independent Director
•Joined 2013

37
CONCLUSION
2024 Annual Meeting

THANK YOU FOR JOINING US
www.ebosgroup.com