Retail Entitlement Offer - Documents Mailed to ... - AWB Limited

FY10 guidanceManagement estimate a FY10 range for continuing businesses PBT (presignificant items) of $95-115m 1 prior to equity raising benefits – expectedannualised interest benefit from equity raising of $20-25m• Commodities Management – Australia– Marginally lower result than FY09– 22Mt harvest size and regional distribution in line with historical averages (positive for GrainFlow,MPT and railfreight)– AWB pool volumes of 3.0Mt (2.6Mt in 2008/09)– Lower grain marketing and chartering profits after strong FY09 performance and reduced workingcapital• Commodities Management – Geneva– Marginally lower result than FY09– Lower chartering revenues following a strong FY09 not being fully offset by developing Black Seaorigination• Landmark– Realisation of >$25m reduction in fixed costs over 2009 base-line– A return to normalised purchasing patterns in crop chemicals will be partially offset by pricereduction due to strengthening A$ and continued oversupply– Improvements in LFS earnings across insurance and lending (the latter largely due to the increasedequity base relative to FY09 average)– Hi-Fert accounted for separately as held for sale1. Excluding significant items which are expected to be approximately $15-20m including ongoing costs associated with class actions and costs associated with wind-down of India and Brazil.Not for distribution or release in the United States or to U.S. persons24 23 September 20096. Debt refinancing1. OverviewNot for distribution or release in the United States or to U.S. persons2523 September 200937