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CEO’s Report

I am very proud of the way the business has delivered in another year impacted by macro challenges. Pleasingly, we have achieved growth and transformation through disciplined execution and are now well positioned for accelerated growth.

The Food business is now a materially larger and better-quality business. Its strong performance in the year is evidence of its increased resilience,
further strengthened through the acquisition of Superior Foods. Likewise, Liquor is a high-quality, well managed business and the delivery of material market share gains for the third consecutive year is evidence of this. It has been a challenging few years in the Hardware sector due to residential construction activity being at subdued levels. However, I am proud of the way our Hardware business and network of member partners have managed, and I am encouraged by some early signs of improvement seen in the final quarter of FY25.

Importantly, our independent network partners in all pillars remain healthy, strong and confident, supported by the competitiveness of their differentiated offers.

Doug Jones, Chief Executive Officer