James StrongChairman

Chairman's Address

164.0↑8.8%

90.9↑14.8%

108.8↑19.7%

134.9↑24.0%

150.7↑11.7%

Earnings per share – up 8.8%

06 07 08 09 10

CentsCents

Reflects strengthening of

our balance sheet during a period

of major acquisitions,

integration and business change

Dividends per share: 2010

115↑10.6%

59↑15.7%

74↑25.4%

92↑24.3%

104↑13.0%

CentsCents06 07 08 09 10

Fully franked dividend

pay-out ratio of 70.4% is slightly up on last year

Final62¢

Interim53¢

Michael LuscombeManaging Director &Chief Executive Officer

Lower prices

Consumers continue to trust Woolworths to deliver the best value for their

shopping dollar

Everyday Rewards

5.1 million registered members

2.7 million customers

linked

Financial Results

Sales of $51.7b – up 4.2%- excluding Petrol – up 4.8%

$m FY09 FY10StatutoryIncrease

Full Year Comp Sales

Australian Food and Liquor1 32,978 34,675 5.1% 3.3%New Zealand Supermarkets (NZD) 4,957 5,185 4.6% 4.0%New Zealand Supermarkets 4,034 4,131 2.4%Petrol (dollars) 5,482 5,481 (0.0)% (1.7)%Petrol (litres) 4,673 4,792 2.5% 0.7%Supermarkets Division 42,494 44,287 4.2%BIG W 4,267 4,193 (1.7)% (3.2)%Consumer Electronics - Aust / NZ 1,537 1,530 (0.5)% (0.9)%Consumer Electronics - India 187 252 34.8%Consumer Electronics - Total 1,724 1,782 3.4%General Merchandise - Total 5,991 5,975 (0.3)%Hotels 1,110 1,102 (0.7)% (3.0)%Home Improvement - 330 N/MFull Year Sales 49,595 51,694 4.2%Full Year Sales excl Petrol 44,113 46,213 4.8%

1. Includes Wholesale division previously reported separately

20.73%

19.95%

PercentagePercentage

05 10

Over $400m

reductionOur targeted CODB reduction

of 20 basis points was

achieved when the distorting

impact of Petrol, Hotels and other significant items

are excluded

21 bpsreduction

CODB / Sales

Excludes Petrol and Hotels and in 2009 the release of a provision

09 1009 10

19.98%

20.89%

19.95%

20.68%

Gross Profit Margin (excluding Hotels)

24.68%

24.34%

23.92%23.89%23.70%

25.91%25.66%

25.32% 25.30%

25.03%

PercentagePercentage

06 07 08 09 10

As expected Gross Profit Margin has

improved reflecting improved buying,

reduced shrinkage, the success of our

exclusive brand offering, the change in sales mix and offset by

significant price reinvestment activity

GP Margin ex Hotels

Total GP Margin

↑12.9%↑17.4%↑15.1%

↑17.5%↑19.8%

↑24.2%

↑17.8%

3,082.4↑9.5%2,815.5

↑13.4%2,815.5↑11.3%

2,483.1↑17.6%

2,528.8↑19.8%

2,111.3↑22.6%

1,722.2↑32.3%

10

EBIT – up 9.5%

EBIT growth underpinned

by strong growth in Australian Food and

Liquor

$ million$ million

06Australian Food and

Liquor EBIT

Total Group EBIT

07 08 Stat

081

09 Stat

091

1. Reflects growth normalised to remove the impact of the 53rd week in FY08

Profit after tax – up 10.1%

$ million$ million

1. Includes Progressive (NZ) business and 20 Australian ex-FAL store results from 2 November 2005, BMG from 1 July 2005, Taverner Hotel Group from 6 February 2006, and ALH and MGW results for the 52 weeks

2. Includes Progressive and Taverner Hotel businesses for the full 52 weeks3. Reflects growth normalised to remove the impact of the 53rd week in FY08

1,835.7↑14.9%

1,835.7↑12.8%

1,598.0↑23.5%

1,626.8↑25.7%

1,294.02

↑27.5%

1,014.61

↑24.3%

2,020.8↑10.1%

1006 07 08 Stat

083

09 Stat

093

Shareholder Payouts

$ million$ million

346407 463

538693

894

1,121

1,2801425

141

325

941

604

1,749

534

1002 03 04 05 06 07 08 09

Profit growth, coupled with balance sheet management,

will have delivered $8,166 million payout

to shareholders over last 9 years

1. Excludes off-market share buy-back of $700 million

Franking credits available for distribution (after the final dividend) = $1,327m

Buy-BackDividend

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Jun-

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TSR CAGR Jun 2000 – Jun 2010TSR CAGR Jun 2000 – Jun 2010

Share Price Performance

Source: Bloomberg Note: Woolworths TSR assumes net dividends are reinvested in Woolworths shares at ex-dividend date at that days closing price; All Ords TSR based on Bloomberg compiled Accumulation index, which takes dividends into consideration

WOW 19.7%

All Ords 6.9%

First Quarter Sales of $13.9 billion

1. Includes Wholesale division previously reported separately

$m

FY09Statutory

(14 weeks)

FY10 Statutory

(14 weeks) Increase Comp SalesAustralian Food and Liquor1 9,001 9,292 3.2% 2.0%New Zealand Supermarkets (NZD) 1,316 1,378 4.7% 4.5%New Zealand Supermarkets (AUD) 1,065 1,095 2.8%Petrol (dollars) 1,440 1,488 3.3% 0.9%Petrol (litres) 1,279 1,297 1.4% (0.9%)Supermarkets Division 11,506 11,875 3.2%BIG W 1,096 1,066 (2.7%) (3.9%)Consumer Electronics - Aust / NZ 399 400 0.3% 2.0%Consumer Electronics - India 63 81 28.6%Consumer Electronics - Total 462 481 4.1%General Merchandise - Total 1,558 1,547 (0.7%)Hotels 303 311 2.6% 1.8%Home Improvement - 177 -Total First Quarter Sales 13,367 13,910 4.1%Total First Quarter Sales (excluding Petrol) 11,927 12,422 4.2%

Up 4.2% excluding Petrol sales, up 4.1% including Petrol sales

FY11 Guidance

Net Profit After Tax is expected to grow in the

range of 8% to 11%

Quantum Project

• Quantum will deliver reduced costs and improve efficiencies across all Woolworths businesses over the next 5 years

• This project will focus on all aspects of our business including– End to End supply chain — move to the next level– Procurement (not for resale) — lowering our costs– Operational work practices — improving efficiency and lowering costs– Global direct sourcing — enhancing capability and lowering costs– Support structures — significantly improving efficiency

• Several key initiatives have commenced• The Quantum project follows in the tradition of Project Refresh• Benefits emerging in both Gross Margin and CODB over next 5 years, which

will be shared between customers and shareholders

Leadership in corporate responsibility

Invested into supporting our communities

$36.3million

Leadership in corporate responsibility

Green stores up and running

53

Lost time injury frequency rate for the full year reduced by

34%

2015 new store format

Online

Home improvement

COMING SOON

Home improvement

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Thank you for your attention

1. Financial Statements and Reports

2. Remuneration Report

3. Election of Directors

Carla (Jayne) Hrdlicka

Stephen Mayne

Ian Macfarlane AC

4. Woolworths Long-Term Incentive Plan

5. Alterations to the Constitution

6. Fees Payable to Non-Executive Directors