7 questions asked at the 2021 Metcash AGM

September 20, 2021

These 7 questions were all read out at the 2021 Metcash AGM.

1. Could you please advise if there have been any protest votes above 10% on the proxies and if so, what was the issue of concern and which of the proxy advisers recommended a vote against.

2. Metcash doesn't appear to provide access to a full video archive of past AGMs under the "events and presentations" section on its website. Only the formal addresses are provided. Could you please provide a full archive this year and go one better in 2021 by publishing a full transcript of today's proceedings, similar to the best practice adopted by the likes of Woolworths and Transurban in recent years.

3. Does the demerger of Endeavour Group out of Woolworths makes Woolworths a weaker competitor in both the supermarket and liquor space because it now has reduced market power? Is this demerger something that Metcash welcomes? Have you noticed any changes in market practices by either Woolworths or Endeavour since the demerger took effect on July 1?

4. Is the 5 kilometre limit for residents during the current Melbourne lockdowns good for Metcash because it forces more residents to become familiar with shopping at their local IGA, rather than bigger Coles and Woolworths formats further afield?

5. With the benefit of hindsight, was it a mistake to rush in with a $300 million selective placement at $2.80 in May last year, particularly given that we have now just completed a $200 million buyback. With the stock now at $4, does the chair agree that this placement needlessly diluted retail shareholders, particularly given that the accompanying SPP only raised $13.6 million from retail investors? What is the current split between retail and institutional holders?

6. When did the directors last receive an actual fee increase and what is the board intending to do with board fees once the fee increase is approved at today's AGM?

7. When disclosing the outcome of the NED fee increase poll and all other resolutions today, could you please advise the ASX how many shareholders voted for and against, similar to what happens with a scheme of arrangement? This will provide a better gauge of retail shareholders sentiment on all resolutions.