E Exhibit 2 Bega Cheese Balance Sheet, 2012-2016 (A\$ millions) Source: Adapted from data in the S\&P Capital IQ Database, accessed April 7, 2017. Exhibit 3 Bega Cheese Segment Financial Data, 2011-2106 (A\$ millions) Exhibit 8A Mondelz ANZ Grocery Business -Financial Projections, FY2018FY2022 (A\$ millions) Exhibit 8B Mondelz ANZ Grocery Business - Valuation by Multiples (A\$ millions) How much is the ANZ grocery business worth? How much should Bega offer Mondelz for the business? What is the maximum amount Bega should offer? E Exhibit 2 Bega Cheese Balance Sheet, 2012-2016 (A\$ millions) Source: Adapted from data in the S\&P Capital IQ Database, accessed April 7, 2017. Exhibit 3 Bega Cheese Segment Financial Data, 2011-2106 (A\$ millions) Exhibit 8A Mondelz ANZ Grocery Business -Financial Projections, FY2018FY2022 (A\$ millions) Exhibit 8B Mondelz ANZ Grocery Business - Valuation by Multiples (A\$ millions) How much is the ANZ grocery business worth? How much should Bega offer Mondelz for the business? What is the maximum amount Bega should offer