Recognisingyour next strategic driversPresentation to NZ Wood Manufacturing ConferenceToni BrendishChief Executive Officer, Westland Milk ProductsApril 2019

Agenda

1. Who is Westland Milk Products?2. Strategic drivers or challenges?

• Food regulatory changes in China• Protecting NZ water ways • Commoditisation• Consumer preferences

Who is Westland?

China tightened its Food Safety Law in 2015

Making regulations work in our favour

The Sustainable Dairying: Water

Accord introduced

De-risking and getting ahead of the game

• Friend of the water accord

• Development of FarmEx• Be ahead of the next regulations

• Helping farmers, not policing• Environmental stewardship

More commoditisedmarkets

Looking at things differently

90% commodities

80% Commodities

10%Valueadd

20%Valueadd

$$

Consumer preferencesare changing dramatically

West Coast LocationFertile soils/high rainfall &

sunshine hours

Farming ExcellenceEthical Framing Practices

Generational IP

NZ Inc. Brand StoryEnvironmental stewardship, trusted

regulatory framework

Our SizeEnables innovation & agility that

larger players cannot

BioavailableProtein ContentFunctional Fat

ResponsibleAccountablePlant-Based

No AllergensControversy Free

Back-To-Basics

Grass-Fed | A2Traceability | Non-GMO

Environmental Stewardship

Functional Environmental Free From Claim Provision

Key

Tren

ds

Our Strategy Differentiated products that leverage our heritage and location

Our Purpose Nourishment made beautifully for generations

On-trend adaptability

Recognising opportunities to differentiate

1. Micro segmentation required2. Macro learning opportunities3. IP that can be shared4. Don’t force it

Thank you.