ESTABLISHED PRODUCER

Australian Cane Farms (ACF) established in 2005

ACF has operated for over 13 years with a strong track record

• Scale:  Owns and operates more than 2,250 hectares (5,550 acres) of highly productive sugar cane farms in the Burdekin Valley

• Prime agricultural real estate:  Total assets of $57 million, 90% of which comprises farm land and crops

• Low cost producer: production costs of ~ US8¢/lb raw sugar equivalent

premier location

Burdekin River Irrigation Region in tropical north Queensland

The Burdekin is a high yield and low cost sugar producing area, one of the best places in the world to grow sugar cane

• Water:  100% irrigated from Burdekin Dam

• Climate:  Ideal for photosynthesis - average 300 days sunshine pa and 75% of average rainfall concentrated in 4 months

• Infrastructure:  Open access to world-class production, logistics and export marketing infrastructure

• Geography:  Located away from cyclone prone coast with ideal soil, agronomic and climate conditions

Burdekin location map

Industry structure

Attractive Australian industry dynamics

The "Australian model" is an open, contestable industry structure with a direct link to world sugar prices

• Grower Sugar:  In return for delivering sugar cane to their mill, Australian sugar cane growers receive “Grower Economic Interest Sugar” (known as “GEI” sugar) in return 

• Choice:  Growers select an export agent for their GEI sugar  

• Pricing:  Growers can price their GEI sugar up to 4 years forward based on the New York futures market

export driven

market facing, open industry structure

Australia is the world's third largest exporter of raw sugar

• History: Australian "Brand 1" sugar is prized for on-time, in-spec delivery of high quality raw sugar

• Market position:  Long standing producer seller relationships with north-Asian markets

• Scale:  Largest exporter into the rapidly growing Asian market and generates over $1.5 billion in annual export revenues

• Competitive:  The Australian sugar industry operates without tariff protection

Strategy for growth

Proven strategy for continued earnings growth

Opportunities for acquisitions and organic growth

• Track record:  ACF has a strong track record of making and integrating acquisitions

• Opportunity:  Highly fragmented sector with around 900 farmers operating 90,000 hectares of sugar cane farms in the Burdekin

• Persistence:  Organic growth via operating efficiencies across ACF's existing operations

team

Highly experienced board and management

ACF’s management team has operated since inception

• Experienced:  ACF's Board and management are deeply experienced in the sugar industry.

• Knowledgable:  Advisory Board comprising senior professionals and consultants with extensive knowledge and networks in the global sugar industry.

• Aligned:  All Board and Advisory Board members are significant shareholders in ACF.