Appendix 4D and Half Year Financial Report

• Statutory profit of $1.629 million, up 276.68% from prior year
• EBITDA of $7.053 million, up 92.4% from prior year
• Completed $6.165 million capital raise and reduced borrowings

Farm Pride Foods Ltd reported a statutory profit of $1.629 million for the half-year ended 31 December 2024, a significant improvement from the prior year loss of $0.922 million. Earnings before interest, tax, depreciation, and amortization (EBITDA) was $7.053 million, up 92.4% from $3.669 million in the prior year. The company's focus during the first half of FY25 was on the recovery of its farms affected by the H7N3 strain of Avian Influenza (AI), including implementing biosecurity upgrades, overhead reductions, and operational efficiency improvements. The company also completed a $6.165 million capital raise, converted $1.035 million of director loans to equity, and repaid $4.137 million of borrowings. An independent valuation also resulted in a $15.652 million increase in the value of the company's plant and equipment. While the company's net revenue from customers decreased 10.3% to $43.178 million, the operational and financial turnaround has continued, and it is the first half-yearly profit since H1 FY18. The company continues to face challenges with cost and labor pressures, as well as the need for further investments in biosecurity and efficiency enhancements.

The company has not provided any high-importance, price-sensitive forward-looking financial metrics.

The company continues to face a challenging environment with cost and labor availability pressures and the requirement for continued further investments in biosecurity protection and efficiency enhancements.