New Zealand

Investor Presentation London, October 2015

Statement to explain the Business

• Bidvest New Zealand is the market leading wholesale distributor of food and associated products to the Foodservice Industry

• The business is organised into three divisions: Foodservice, Fresh and Processing

2015 Result

Sales 11%

Trading Profit 13%

Economic Overview

Statistics

• GDP 3% • Unemployment 5.7% • Inflation 0.4% • Interest rate 2.75%

Trends

• Population growth

• Tourism strong

• Government in surplus

Outlook: OVERALL POSITIVE

Our Business

Customer

Culture

Commercial

Suppliers

• Simplify our customers lives • Make it easy to buy

• Lead time • Product range • Frequency • Technology

Our Business

Customer

Culture

Commercial

Suppliers • Respect them – they are our allies

• Find the most competitive source • Importing and terms • Customer support • Marketing • Technology

Our Business

Customer

Culture

Commercial

Suppliers

• Efficiency

• Accuracy

• Service

Our Business

Customer

Culture

Commercial

Suppliers

• Single most valuable asset • Care • Work hard for each other • Connected • Our colleagues are our friends

Bidvest in New Zealand

• Large market share • 3m + Transactions /p.a • Inventory days 23 • Receivable days 28 • Payable days 50 • Cash generated $32m/p.a

• 30 Businesses • 60 000 Square meters of DC • 370 Trucks • 1,500 Staff • 20,000 Products • 17,000 Customers • 1,000 Suppliers

15 Year Performance

Sales EBIT

Market Segmentation

Customer Segmentation Restaurant & Cafes

QSR

Institutions

Retail & Oil

Caterers

Hotels

Aged Care

Bakeries

Export

Other

Clubs

Manufacturers

Restaurant & Cafes

QSR Institutions

Market Segmentation

• Customer Examples

Hotels Caterers Institutions QSR Oil Aged Care

Accor Compass Hospitals Subways BP Bupa

Hilton Spotless Corrections Dominos Caltex

LSG Defence

Market Segmentation

Product Segmentation Meat

Fruit and Vegetables

Dairy

Other

Seafood

Bread & Bakery

Beverages

Non Food

Baking Supplies

Sauces Condiments Dressing

Desserts

Oils & Fats

Meat

Fruit & Vegetables

Dairy

Areas of development

• Culture of continual improvement

• Technology

Areas of development

• Imports

• Own Brand

Areas of development

• Category Development

– Specialists

Meat Fruit and Vege Packaging Seafood

Areas of development

• Category Development

– Specialists

– Vertical Integration

Areas of development

Looking Forward

Trends are Positive

• Foodservice growing

• Tourism strong

• NZ perfectly located

• Good business momentum

Looking Forward

0%

5%

10%

15%

20%

25%

30%

35%

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Sales Growth %

Year

Looking Forward

Trends are Positive

• Foodservice growing

• Tourism strong

• NZ perfectly located

• Good business momentum

• Strong 2015/16 Start

Thank you