2021 Annual Report Delay and Waiver

NZX Release 1 July 2021 2021 Annual Report Delay and Waiver Cooks Global Foods Limited (CGF) advises that it has applied for, and been granted, a waiver from NZX Listing Rule 3.6.1. The effect of the waiver is to give CGF until Monday, 2 August 2021 to file its annual report which would have otherwise been due on 30 June 2021. The principal operations of CGF are based in the United Kingdom, including Triple Two Holdings Limited (Triple Two) which CGF acquired in June 2020 and now comprises a significant part of the group's operations. The United Kingdom has continued to have restrictions applied due to the COVID-19 pandemic. Those restrictions have caused CGF to be unable to complete its audit in respect of Triple Two. The inefficiencies caused by COVID restrictions have meant that the significant work needing to be completed on Triple Two's audited accounts has not been able to be completed by the reporting deadline. In the United Kingdom, listed companies continue to have certain class relief from periodic reporting deadlines in recognition of the challenges that the COVID 19 pandemic presents to completing reporting requirements. NZ RegCo has granted this waiver on the conditions that: o CGF otherwise complies with NZX Listing Rule 3.6.1 on or before Monday, 2 August 2021. o CGF makes a market announcement containing the information set out in this announcement. o CGF releases an announcement to the market if the financial information in the CGF full year 2021 preliminary announcement is likely to be materially adjusted as a result of audit completion for Triple Two. o CGF advises the market of its expected date for releasing its annual report and keeps the market informed of any expected change in that date. CGF anticipates releasing its annual report on Friday, 23 July 2021. Audit Adjustments CGF anticipates that in its final audited financial statements there will be material adjustments to the preliminary announcement financial statements released on 31 May 2021: o Revenue recognition for Triple Two. IFRS 15 regulates the timing of when revenue is recognised in the statement of profit or loss. IFRS 15 is being applied to Triple Two for the first time and it is expected that revenue will reduce following the final application of IFRS 15 requirements. This is a non-cash adjustment. o Reclassification and presentation of the financial statements relating to business combination accounting for the acquisition of Triple Two. These are non-cash adjustments that are expected to be made to the statement of financial position to account for the Triple Two acquisition. Contact: Keith Jackson Executive Chairman Tel: +64 9 304 0567 ext. 714. Email: keith.jackson@cooksglobalfoods.com End CA:00374904 For:CGF Type:ANNREP Time:2021-07-01 10:21:07