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We Bring a Little Good to Everyone, Every Day

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We Bring a Little Good to Everyone, Every Day 2016 ANNUAL REPORT We bring a little good to everyone, every day. Woolworths Limited ABN 88 000 014 675 "There are some real around and we come night after cricket "Range is good. and I can find what gems here. I’ll line up from 20 mins training." VIC Even on things I need, no problem." up specifically foraway to buy it here." "I love the bread roll like stationery and QLD "Just the CONTENTS the good ones. They QLD "Always well selection; great for beauty." NSW "I atmosphere in store smile all the time laid out. Like the veg lunches." ACT "The like that things is so friendly; it’s a SECTION 1 and are just really here. A good choice." meat in this store is on sale are put at great ambience!" PERFORMANCE nice, well trained SA "Brilliant service very, very good. Lots the front and have ACT "You can HIGHLIGHTS 8 19 people." QLD "The by this lady (Uma). of choice and lots of prices big and easy always get specials 2016 at a glance 8 checkout staff She's exceptional. well priced items." to see." VIC "Great here — they are Chairman's Report 10 2016 AT A NEW ZEALAND are just amazing Efficient and WA "The ladies on for everything you really clear." Managing Director's GLANCE FOOD Report 12 on the whole and friendly. We will line the Deli and the guy need. The store WA "Sale items The Results in Brief 14 a real credit to up for her or Alan. in Seafood are all is reliable." SA displayed look great the store; they’re They're the best." lovely. You can have "You can see lots and are easy to SECTION 2 friendly, chatty and NSW "Love the a laugh with them of speciaIs in the find." VIC "Love the BUSINESS REVIEW efficient!" ACT introduction of the too which is great." store. Lots of good healthfood section." Australian Food "Why would I go Odd Bunches — we QLD "Bakery area ones." SA "Love SA "You can always and Petrol 16 anywhere else? I can need more of them — is good — like the The Odd Bunch: find specials Endeavour Drinks Group 18 10 16 park at the door and greater range." WA range of bread rolls. low cost and quality available here to New Zealand Food 19 CHAIRMAN'S AUSTRALIAN FOOD in two steps I’ve got "The range and Always consistent isn't that bad" buy." QLD "Good Portfolio Business REPORT AND PETROL my trolley and am presentation of the quality." VIC VIC "Always get selection (of fruit — BIGW 20 shopping. It’s great." and vegetables). Portfolio Business — Hotels 21 QLD "This lady is Can always find Discontinued Operations one of the great what I need." WA — Home Improvement 22 packers — soft fruit "The counters Overheads, Cash Flow never bruised, meat with specials are and Balance Sheet 23 kept separately, etc really well‑marked, Capital Management 24 — however others, We bring so it’s easy to find New store rollout plans 24 Outlook – Material mainly teenagers, the bargains!" ACT Business Risks 25 would benefit from "Service is excellent. a little to more training." good They're always SECTION 3 20 WA "That is a very everyone, every day. really friendly." DIRECTORS’ REPORT good price. I like my QLD "You can find Board of Directors 26 PORTFOLIO BUSINESS half‑price deals. Why what you want — Group Executive — BIGW pay more?" QLD helpful staff!" WA Committee 28 "The staff on the "Staff take pride in Directors’ floormake the presentation — it Statutory Report 29 experience for me; looks good." VIC Remuneration Report 33 they’re very friendly apples is amazing." "The staff are allbargains here. Good "They widened the and really helpful, ACT "Although locals here, they work Woolworths." entrance recently SECTION 4 always helping you pricey we will are brilliant. You VIC "Love this sushi and it’s so much FINANCIAL REPORT to find the unusual splurge on wagyu couldn’t meet a section. Adds a better now!" ACT Auditor's Independence 12 Declaration 54 items!" ACT "I think occasionally. It's nicer lot." SA "The cosmopolitan feel "The specials Financial Report 55 MANAGING there has been an beautiful and shelves and displays to the store." WA freezer is great. I Directors’ Declaration 115 DIRECTOR'S REPORT improvement in tender. The meat are always well‑filled "I come in to browse always come here." Independent the fresh fruit and from this display is and products are their half price QLD "Customer Auditor’s Report 116 veg lately. Probably consistently good. brought to the front specials. They're service staff are 18 changed in the lead You'll pay more but of the shelves." ACT great." QLD "Yeah, always friendly and SECTION 5 up to Christmas." it's worth it. Best of "Meat prices are of course I have my helpful." VIC "Love OTHER INFORMATION ENDEAVOUR NSW "I see the all it’s grass fed..." competitive with favourites! I would the yellow reduced Five Year Summary 118 DRINKS GROUP manager often NSW "This shop is the butcher." NSW rather wait longer price tags. Easy Shareholder Information helping. I saw him always really well "Fresh produce. to be served by to see specials." and Corporate Governance Statement 125 fixing the hot cross stocked and the Lettuce is always them!" ACT "Love VIC "Nice and wide Company Directory 128 buns. Shows me aisles are always crisp. No complaints. the price per kg or aisles; they just look he cares about his clean and tidy." WA They are the Fresh per item on yellow so clean all the time!" 21 shop." VIC "I love "Fresh Fruit for Kids Food People!" QLD tags. Great for easy ACT "The specials how it's all fresh promotes healthy "The sushi bar is price comparison." grab me. They're PORTFOLIO BUSINESS not frozen. Makes eating for kids and absolutely fantastic! VIC "They make it competitive." QLD "It — HOTELS me want to look and is regularly stocked I just wish they could look really nice. It just has all the fresh buy!! Best seafood — even at 8pm at do even more!" ACT all looks very fresh stuff I need." ACT good FOOD We can help everyone eat well within their means – whether it’s eating more fresh food, more local food or more food that is just right for them. There are more than 3,400 products on our local sourcing program, which have increased by over 450 product lines since September 2014. 96% of our fruit and veg is Aussie grown. Our Australian first sourcing policy means we only import to provide customers with more variety during our off-season. All our fresh beef, lamb, pork and poultry are Australian grown. All Woolworths branded beef is MSA (Meat Standards Australia) graded so it’s tender and juicy. OVERALL CUSTOMER SATISFACTION % of customers satisfied FY16 75% Q4 – FY16 75 74 73 72 71 % 70 69 68 67 66 65 Q1–FY16 Q2–FY16 Q3–FY16 Q4–FY16 Overall customer satisfaction good PRICES We are always competitive on price because we believe that good prices help ensure everyone can eat and live well. Our Low Price Always promise means that customers can always get low prices on hundreds of products they always buy. Between April and June 2016, Woolworths has added an additional 183 products to the Price Dropped and Low Price Always programs, contributing to our overall price investment of over $500 million in FY16. We’ve been dropping shelf prices across the store so customers' regular shopping costs less. This year we invested approximately $45 million into the meat category so that we could provide family favourite items, such as our Australian Lamb Leg Roast, at an affordable price. PRICE REDUCTION t 2.7% Change in average prices % FY16 Q4 – FY16 0 -1 % -2 -3 Q1–FY16 Q2–FY16 Q3–FY16 Q4–FY16 Price reduction (Australian Food and Liquor) good ACTS It can be something as small and personal as a warm smile or a thank you, or something big like our commitment to minimising food waste. Nationally, Woolworths partners with and fundraises on behalf of our food rescue partners, OzHarvest and Foodbank. We also fundraise on behalf of the Australian Salvation Army and for the Paralympics, helping to raise the $7 million needed to send the team to Rio in 2016. Our Free Fruit for Kids initiative was developed to encourage healthy eating amongst kids and assist parents as they shop. Woolworths makes 250,000 pieces or 50,000 kgs of fruit available for kids to eat in local stores. We also sell odd-shaped fresh fruit and veg through The Odd Bunch to save customers money, help farmers and reduce waste. With over 25 products in The Odd Bunch range, over 30 million kgs have been sold. THE ODD BUNCH Sales through The Odd Bunch initiative (million kgs) 8 6 5 4 8 3 6 million kgs 2 million kgs million kilograms 1 2.5 2.5 million kgs million kgs 0 Apples Tomatoes Potatoes Carrots 8 9 ANNUAL REPORT 2016 REPORT ANNUAL GROUP WOOLWORTHS 2016 GROUP FINANCIAL at a glance TEAM NET PROFIT ATTRIBUTABLE TO SHAREHOLDERS OF SHAREHOLDERS WOOLWORTHS FROM SALES EMPLOYEES CONTINUING OPERATIONS BEFORE SIGNIFICANT ITEMS 2 CUSTOMER COMMUNITY HIGHLIGHTS 1PERFORMANCE 205,000+ SALES FROM CONTINUING FULL YEAR FULLY FRANKED $1,558M OPERATIONS DIVIDEND PER SHARE t39.2% from 2015 CUSTOMERS SERVED VALUE OF EMPLOYEE TIME PER WEEK DEVOTED TO COMMUNITY INVESTMENT WOMEN IN MANAGEMENT REVIEW 2 BUSINESS POSITIONS 77¢ TOTAL GROUP NET LOSS ATTRIBUTABLE TO SHAREHOLDERS M t 44.6% from 2015 29.6 $7.4 M OF WOOLWORTHS $58B 38.9% OVERALL CUSTOMER $ M SATISFACTION AS AT 1,235 MATERIAL RECYCLED OR JUNE 2016* DIVERTED FROM LANDFILL t 1.2% from 2015 REPORT 3 DIRECTORS' (TONNES) t 157.5% from 2015 INDIGENOUS EMPLOYEES ORDINARY EARNINGS PER SHARE FROM CONTINUING OPERATIONS BEFORE 75% 274,930t SIGNIFICANT ITEMS 2 2,200+ EARNINGS BEFORE AUSTRALIAN FOOD AND PETROL INTEREST AND TAX FROM CONTINUING OPERATIONS 2 ¢ BEFORE SIGNIFICANT ITEMS 4REPORT FINANCIAL 123.3 $39,410M VOICE OF THE CUSTOMER FOOD SAVED FOR MEALS t % from 2015 SCORE FOR TEAM ATTITUDE* (MILLION MEALS) 39.5 ALL NEW SUPPORT STAFF EMPLOYEES $2,564M ENDEAVOUR DRINKS GROUP SPEND A WEEK IN STORE 85% 6.4M t 35.5% from 2015 $7,589M Woolies 5INFORMATION OTHER TOTAL DIVIDEND PAYOUT OPERATING CAPITAL NEW ZEALAND FOOD Welcome IN RELATION TO FY16 EXPENDITURE INVESTMENT IN LOWER SOLAR POWER GENERATION PRICES IN FY16 * $5,592M $1.0B $1,484M YOUNG EMPLOYEES 1,560Mwh BIGW $500M+ t 44.2% from 2015 u 2.8% from 2015 79,000+ $3,820M WOOLWORTHS RENEWAL WOOLWORTHS OWN STORES OPENED IN JUNE BRAND PRODUCTS WITH HOTELS THE HEALTH STAR RATING $1,512M 6 1,300 * Represents Australian Food only.
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