Beston Global Food : 2021 AGM Chairman's Address

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CHAIRMAN'S ADDRESS AT

THE ANNUAL GENERAL MEETING OF

BESTON GLOBAL FOOD COMPANY LIMITED

Held on-line

on Friday, 26 November 2021

commencing at 10.30am (Adelaide time)

INTRODUCTION

Good morning Ladies and Gentlemen.

Welcome to this 2021 Annual General Meeting of the Beston Global Food Company.

I am Roger Sexton, the Chairman of the Company and will be chairing today's proceedings.

This year's AGM is being held in virtual format because of the circumstances arising from the COVID-19 pandemic, including government restrictions on travel and gatherings.

This meeting will deal with the items set out in the Notice of Meeting dated 25 October that was distributed to all Shareholders. The Company provided an Operational Update yesterday, and the presentation has been lodged with the ASX.

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Shareholders are able to participate in this meeting on-line via the Online Platform provided by Link Market Services by entering the URL shown in the Notice of Meeting, into your computer browser https://meetings.linkgroup.com/BFC21.

Participating in the meeting by this method will enable our shareholders to view the meeting, ask questions and cast votes in real time poll during the meeting.

We apologise that we are not able to provide the opportunity for our shareholders to physically attend the meeting in the 'normal' manner. However, in planning for the AGM we followed the health advice of the Australian Government and took the appropriate steps to convene this year's AGM as a virtual meeting in the interests of the health and safety of our shareholders, employees and the broader community.

We certainly hope that this is the last occasion on which we need to meet in a virtual format.

We have always enjoyed the opportunity to meet with our shareholders at our Annual General Meeting each year and to provide the opportunity for shareholders to sample some of the Company's food and beverage products following the Meeting.

We look forward to getting back to that format at our AGM next year.

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With that background, I would now like to introduce the Directors of the Board of the Beston Global Food Company who are in attendance today:

• Ms Joanna Andrew
• Ms Petrina Coventry
• Mr Stephen Gerlach AM
• Mr Neil Longstaff
• Mr Ian McPhee AO
• Ms Cheryl Hayman who is based in Sydney and unfortunately could not be here in person but is attending the meeting online.

Some of our Directors, including myself, come up for re-election today and I will address these re-elections later in the meeting.

I would note that online we have Brad Pollock, representing our Auditors, Ernst & Young, and our legal counsel, Andrew Corletto from Minter Ellison. We also have a number of guests on-line, including _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ representing our Company's bankers, National Australia Bank.

I thank our auditors, advisors and bankers, along with all of our shareholders for making the effort to join us in this on-line format.

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In the Explanatory Memorandum which accompanied the Notice for this meeting, we discussed the changes which had been made to facilitate an orderly refreshment of the Board.

Three new Independent Non-Executive Directors were appointed to the Board over the last twelve months: Mr Neil Longstaff, Ms Joanna Andrew and Ms Cheryl Hayman.

Given that these Directors filled casual vacancies on the Board, they will come up for formal election later in this meeting.

The Board has been advised by Mr Ian McPhee AO and Ms Petrina Coventry that they wish to retire from the Board, effective at the end of January next year.

After spending more time at his holiday unit on the Sunshine Coast during the COVID-19 lockdown, Ian has decided that he would like to do a lot more of that and step back from a number of his commitments which have resulted in him working full time after retiring a few years back as the Commonwealth Auditor General.

Petrina has been asked to take on an executive role to assist a leading not-for-profit organisation as well as joining the Board of the Australian Health Practitioner Regulatory Authority which requires her to retire from our Board, but I know that she does so with a heavy heart.

The Board has expressed its appreciation to Mr McPhee and Ms Coventry for their service to the Company and will do so more