ASX AUCKLAND CONFERENCE 29 NOVEMBER 2019 SunR nRice ice (ASX:SGL/SGLLV) 1
IMPORTANT NOTICE AND DISCLAIMER This presentation is for information purposes only. Any person who receives this presentation must seek This presentation should be read in conjunction with This information is given in summary form and does advice on and observe any such restrictions. other publicly available material. Further information not purport to be complete. It should be read in including historical results and a description of the conjunction with the most recent financial report and activities of SunRice is available on our website: To the maximum extent permitted by law, SunRice, its the Information Memorandum. The content of this https://investors.sunrice.com.au/investors/. related corporations, directors, officers, employees or presentation is provided as at the date of this agents disclaim a liability (including, without presentation (unless otherwise stated). Reliance limitation, any liability arising from fault, negligence About SunRice’s structure should not be placed on information or opinions or negligent misstatement and whether that liability The structure of SunRice contains non-standard contained in this presentation as advice to investors is direct, indirect or consequential) for any loss elements including its dual class share structure or potential investors and, subject to any legal arising from this presentation or reliance on anything comprising A Class Shares and B Class Shares. obligation to do so Ricegrowers Limited (trading as contained in or omitted from it or otherwise arising in SunRice ) does not have any obligation to correct or connection with this (whether foreseeable or not). A Class Shares confer on their holders the right to update content. vote at general meetings but no right to dividends. A All amounts are in Australian Dollars, unless Class Shares are not quoted on ASX and may only be This presentation does not purport to contain all otherwise stated. Certain statements in this held by Active Growers. The right to vote is based on information necessary to an investment decision, is presentation (including those that contain terms such one member, one vote and no person may hold more not intended as investment or financial advice, is not as "believe", "estimate", "plan", "project", than 5 A Class Shares. In practical terms the voting a recommendation, offer or invitation by any person "target”, "anticipate", "expect", "intend", "likely", rights held by A Class Shareholders give those or to any person to sell or purchase securities in "may", "will", "could" or "should") relate to the shareholders the right to control the election of SunRice in any jurisdiction, and must not be relied future, including forward looking statements relating directors and any changes to SunRice’s constitution. upon as such. Any decision to buy or sell securities or to SunRice’s financial position and strategy. Whilst other products should be made only after seeking the forward-looking statements are based on current B Class Shares are quoted on ASX and confer on their appropriate financial advice. views, expectations and beliefs as at the date they holders the right to receive dividends, as determined are expressed, these forward looking statements by the directors from time to time. Holders of B Class This presentation is of a general nature and does not involve known and unknown risks, uncertainties, Shares do not have the right to vote at general take into consideration the investment objectives, assumptions and other important factors that could meetings of SunRice and may only vote on proposals financial situation or particular needs of any cause the actual results, performance or involving a variation to their class rights or if required particular investor. achievements of SunRice to be materially different for the purposes of the ASX Listing Rules. This means from the future results, performance or achievements B Class Shareholders have no right to vote on the expressed or implied by such statements. No Any investment decision should be made solely on election of directors of SunRice. No person may hold representation or warranty, express or implied, is the basis of your own enquiries. Before making an more than 10% of the total number of B Class Shares made as to the fairness, accuracy, reliability, investment in SunRice, you should consider whether on issue. completeness or correctness of information such an investment is appropriate to your particular contained in this presentation, including the investment objectives, financial situation or needs For more details of the non-standard elements of accuracy, likelihood of achievement or and obtain independent advice from a qualified SunRice’s structure see: reasonableness, fairness, accuracy, reliability, financial adviser. https://corporate.sunrice.com.au/investors/. completeness or correctness of any forward-looking statements. There can be no assurance or guarantee The distribution of this presentation including in that these forward-looking statements will be jurisdictions outside Australia, may be restricted realised. by law. 2
A GLOBAL FOOD GROUP WITH DIVERSE PRODUCTS AND MARKETS 1.2billion revenue. 2200 employees. 50 countries. 30 brands. 700 products. 11 businesses. More than 700 products from table rice, snacks and ready-to-go meals, to rice flour and livestock and companion animal products 3
UNIQUE GLOBAL PRESENCE WITH EXPOSURE TO GROWTH Our global offices Countries we supply SunRice places branded Operational presence in eight Building secure, high quality Important role in supporting products in around 50 countries: Australia, USA, supply chain from Asia to growers and communities in countries, with significant Singapore, Dubai, Solomon complement the Australian those countries and markets markets in the Pacific and the Islands, Jordan, Vietnam and and USA rice crops in which we operate, Middle East, and expanding PNG including PNG and Vietnam markets across Asia 4
UNIQUE AND COMPLEMENTARY CORPORATE STRUCTURE Australian International Rice Riviana CopRice Corporate Rice Rice Food Foods Paddy price paid to growers Dividends (A Class shareholders) (B Class shareholders) SunRice ‘A Class Shares’ remain held by SunRice ‘B Class Shares’ listed on the ASX provide investors with Active Growers who retain control of the exposure to the Group’s ‘Profit Businesses’ which produce more Company, and receive payments for their rice than 700 products including: crops via the Group’s Rice Pool Business. Table Rice A Class and B Class Shares are Snacks complementary and work together to Ready-to-go Meals minimise risk across the Group, producing Rice Flours returns for both growers and investors. Livestock and Companion animal food 5
RIVERINA SUPPLY VS. DEMAND '000 Paddy Tonnes 1,400 1,161 1,200 1,038 963 1,000 800 829 800 800 690 623 600 Drough ght t Drough ght t 400 perio iod perio iod 244 205 167 200 66 ?* ?* 54 19 *Current outlook for C20 crop 0 subdued due to drought and current water pricing - SunRice now expects CY06 CY07 CY08 CY09 CY10 CY11 CY12 CY13 CY14 CY15 CY16 CY17 CY18 CY19 CY20 the C20 rice crop will be lower again than the C19 crop Riverina Crop Demand for SunRice Product 6 Source: SunRice
C19 RICE - Already ady secure red d - SOURCING Total Rice Demand 1,100,000 AND DEMAND AU Specific Market Demand 65,000 (PADDY TONNES Korea & Taiwan Tenders Demand 100,000 EQUIVALENT) Japan SBS Demand 70,000 Japan MA Demand 60,000 Supply Country 6 394,000 - Incre crement mental al Riverina 308,000 oppor portu tunit nitie ies to be Supply Country 5 189,000 fulfil illed d - Supply Country 4 157,000 Supply Country 3 32,000 Supply Country 2 20,000 Supply Country 1 5,000 - 200,000 400,000 600,000 800,000 1,000,000 1,200,000 1,400,000 Source: SunRice 7
PROFIT BUSINESSES (B CLASS HOLDER) INTERNATIONAL Business Overview t u a u a k i RICE Primarily purchases, processes and markets rice to supply international branded markets, tender STRONG SUPPLY markets or other processors International rice is also sold in Australia when CAPABILITIES varieties cannot be grown Segment includes locally branded businesses: Trukai (PNG), SolRice (Solomon Islands) and SunFoods (US) Sourcing capabilities in Asia and the US PROFIT BUSINESSES (B CLASS HOLDER) RICE FOOD Business Overview DIVERSIFIED FMCG Manufacturing, marketing and distribution of value-added rice-based products OFFERING Rice cakes, snacks, rice flour, microwave rice and ready-to-go meals Active product innovation and development programme 8
PROFIT BUSINESSES (B CLASS HOLDER) RIVIANA Business Overview GROWTH THROUGH Specialty gourmet food distributor of both imported and locally manufactured goods to retail NEW CATEGORIES customers and food service channels AND CHANNELS High provenance products aligned with food trends Flagship brands Riviana and Always Fresh Recent acquisition of Roza’s Gourmet PROFIT BUSINESSES (B CLASS HOLDER) COPRICE Business Overview QUALITY ANIMAL Manufacture, distribution and sales of stockfeed and companion animal products FEED SOLUTIONS Value-add usage of by-products from rice processing Draws on nutritional expertise 9
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