2021 Interim Results Announcement

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20 April 2021

Exceptional delivery in #food; retail strong when stores open

George Weston, Chief Executive of Associated British Foods, said:

“I am proud of how our #people have responded to the many challenges presented by COVID-19. Our #food businesses delivered an exceptional increase in adjusted operating profit of 30% and we have provided safe and nutritious #food under the most demanding of conditions.

With most of the Primark stores closed for more than half the period, the management team demonstrated operational agility in response to the measures employed by governments to tackle the pandemic. Primark sales after store reopenings demonstrate the relevance and appeal of our value-for-money offering. We are excited about welcoming customers back into our stores as the lockdowns ease and are delighted with record sales in England and Wales in the week after reopening on 12 April. With our success in a number of new markets, as wide-ranging as Poland and Florida, we are as convinced as we have ever been in the long-term growth prospects for Primark.

Looking ahead, with stores reopening and Primark once again becoming cash generative, our confidence is reflected in our decisions to repay the job retention scheme monies in respect of this financial year and to declare an interim dividend."

^{The group has defined, and outlined the purpose of, its Alternative #performance Measures in note 12. These measures are used within the Financial headlines and in this Interim Results Announcement.}