QSL Update Burdekin Information Session 22 August 2014 Disclaimer - - PowerPoint PPT Presentation

QSL Update

Burdekin Information Session 22 August 2014

Disclaimer

The information provided in this presentation is designed to provide a summary update of QSL's current position and intentions and does not constitute a financial product, investment advice or a recommendation to enter or not enter any particular transaction with QSL. QSL has made every effort to accurately summarise the relevant arrangements and its plans, but this presentation cannot cover every aspect of the relevant circumstances. Information about QSL's past performance should not be relied upon and is not an indication of future performance. Where estimates are given of future pool performance figures, those figures are indicative only as pool performance figures only become final

• n or after 30 June in any year. Where indications are given of QSL's future plans, those indications

reflect QSL's current thinking, which may change over time (as its assessment of what it is in the best interests of the industry may change).

2014 season estimated pool returns

Note: These are estimates only and are current as of 8 August 2014

Pool Net $A per mt IPS QSL Harvest Pool $412 QSL Discretionary Pool $424 QSL Actively Managed Pool $428 QSL Guaranteed Floor Pool $425 QSL Growth Pool $428 QSL Forward Season Pool (2014) $420 QSL US Quota Pool $489

Sugar market update

(Current as of 18 August 2014):

• Bearish sentiment in the market
• October 14 contract closed the fortnight at 15.92 c/lb while the March and May

closed at 17.77 and 18.05 c/lb.

• More than 1 million tonnes of Thai raw sugar still to find a home
• Brazil production slightly down on 2013 around 40-45 million tonnes
• QSL anticipates prices will increase however not likely until early next year
• For now, we expect to see prices trending at the lower-end of the range.

4

Currency market update

(Current as of 11 August 2014):

• The Australian dollar is relatively stable against the Greenback
• Geo-political issues continue to weigh on risk appetite
• $A has remained relatively stable trading between 93.70 US cents

and 92.40 US cents

• QSL expects to see the Australian dollar come off later this year
• The quantitative easing program in the US is scheduled to wind-up

before the end of 2014 and following this, QSL sees potential for US rate hikes as we move into 2015.

5

THANK YOU

Questions?