onlyuse B e l l P o t t e r H o m e G r o w n C o n f e r e n c e

ersonalM a r k R y a n , M D & C E O 9 J u n e 2 0 2 2

Disc laim er

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This presentation has been prepared by Tassal Group Limited for

professional investors. The information contained in this presentation

is for information purposes only and does not constitute an offer to

issue, or arrange to issue, securities or other financial products. The

information contained in this presentation is not investment or

financial product advice and is not intended to be used as the basis for

use

making an investment decision. The presentation has been prepared

without taking into account the investment objectives, financial

situation or particular need of any particular person.

No representation or warranty, express or implied, is made as to the

fairness, accuracy, completeness or correctness of the information,

ersonal

opinions and conclusions contained in the presentation. To the

maximum extent permitted by law, none of Tassal Group Limited, its

directors, employees or agents, nor any other person accepts any

liability, including, without limitation, any liability arising out of fault.

In particular, no representation or warranty, express or implied is given as to the accuracy, completeness or correctness, likelihood of achievement or reasonableness of any forecasts, prospects or returns contained in this presentation nor is any obligation assumed to update such information. Such forecasts, prospects or returns are by their nature subject to significant uncertainties and contingencies.

Before making an investment decision, you should consider, with or without the assistance of a financial adviser, whether an investment is appropriate in light of your particular investment needs, objectives and financial circumstances. Past performance is no guarantee of future performance.

The distribution of this document in jurisdictions outside Australia may be restricted by law. Any recipient of this document outside Australia must seek advice on and observe such restrictions.

TASSAL GROUP | PAGE 2

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SUMMARY

Tassal is uniquely positioned to leverage the attractive industry dynamics and global supply-demand fundamentals that underpin the salmon and prawn markets.

Investments in our infrastructure have delivered scale in salmon and growing scale in prawns, which together with pricing and mix optimisation, will drive growth in cashflows and shareholder returns.

Tassal is focused on achieving the right balance between minimising our environmental impact and maximising our shareholder value, to ensure growth is optimised and sustainable.

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TASSAL'S JOURNEY

G e n e r a t i n g s t r o n g c a s h f l o w f o l l o w i n g i n v e s t m e n t p h a s e

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I n v e s t m e n t P h a s e

•

Significant capex programme - ~$420m invested over

FY18-21

• Invested in growing salmon biomass to achieve scale

and drive greater efficiency

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•

Commenced prawn farming operations in order to

pursue an attractive growth opportunity and achieve

greater diversification

• Investment phase coincided with COVID-19, which

impacted demand and freight costs

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To d a y

F u t u r e

•

Salmon growth program completed, with biomass

•

Salmon price re-rating to drive stronger margins

build-up achieved

•

Deliver strong cashflow and shareholder returns with

•

Delivering c40,000 hog tonnes of salmon production

top quartile Free Cashflow growth and conversion

annually

targeted

•

Prawn operations are now well-established, with

•

Optimise prawn operations, with further growth self-

significant uplift in harvest volumes

funded and only when market conditions dictate

•

Salmon pricing has re-rated

•

Material reduction in capital expenditure

‒ Favourable supply and demand fundamentals

•

Evolve and expand Tassal as a Blue AgTech leader

globally

  • Attractive industry dynamics domestically

9 J u n e 2 0 2 2 | H O M E G R O W N C O N F E R E N C E | PAGE 5

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Tassal Group Limited published this content on 08 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 June 2022 06:31:08 UTC.