FY26 Trading Update

• Leadership and organisational restructure implemented to remove layers, strengthen accountability and reduce cost
• Market conditions supportive with volume, pricing and revenue broadly in line with August 2025 outlook; wholesale pricing materially improved
• Higher operational costs in Australia across farming and processing operations expected to impact 1H26 earnings

Inghams Group Limited (ASX: ING) has provided a trading update for the first 18 weeks of FY26. Key points include a leadership and organisational restructure implemented to remove layers, strengthen accountability and reduce cost, with market conditions being supportive with volume, pricing and revenue broadly in line with August 2025 outlook and wholesale pricing materially improved. However, the company has experienced higher than expected operational costs in Australia across farming and processing operations, which are expected to impact 1H26 earnings. Inghams is taking decisive corrective actions, and the early results are encouraging. The company has reaffirmed its FY26 guidance for Underlying EBITDA pre AASB 16 between $215.0 million and $230.0 million, and provided guidance for 1H26 Underlying EBITDA pre AASB 16 of approximately $80.0 million.

Inghams Group reaffirms FY26 Underlying EBITDA pre AASB 16 guidance of between $215.0 million and $230.0 million. 1H26 Underlying EBITDA pre AASB 16 is expected to be approximately $80.0 million.

The company remains confident in delivering a significantly improved second-half performance that will set it up for long-term sustainable growth.