NOUMI LIMITED — Capital/Financing Update 2012

Apr 29, 2012

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Freedom Foods Group Limited ABN 41 002 814 235 80 Box Road Taren Point NSW 2229

30[th] April 2012

Company Announcements Office ASX Limited Level 4, 20 Bridge Street Sydney NSW 2000

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Pactum Australia – Expansion of UHT Dairy Capacity

Freedom Foods Group Limited (ASX:FNP) is pleased to announce today that its wholly owned business unit, Pactum Australia (Pactum) is planning to build a state-of-the-art UHT processing plant in South East Australia to meet demand for high quality dairy milk in export and domestic markets.

The primary market focus of the new capacity will be on supply of high quality UHT dairy milk for export markets to proprietary and private label customers in South East Asia, including China. With rising incomes and improving diets, these markets will continue to experience strong, long term demand for high quality safe dairy products originating from low cost production bases such as Australia. Australian dairy milk is well regarded in Asian markets for its consistent high quality.

Pactum has experienced significant growth (34% in volume) over the past few years, and the new production capacity (the first Australian greenfields expansion in UHT in last 10 years) will enable it to meet growing demand for UHT dairy milk, while providing additional capacity for value added beverages at its Sydney facility. Pactum is currently expanding its capabilities at the Sydney facility to provide portion pack (200ml – 330ml) configuration for value added beverage products.

The location of the new plant in South East Australia will provide for long term access to the most sustainable and economic source of dairy milk. Pactum has strong links into the Australian dairy industry and will expand its long term arrangements with Australian dairy farmers for supply of high quality dairy milk. The new facility will provide additional growth opportunities for Australian dairy milk supply, in a form that is value added and sustainable for long term export market development.

The initial capabilities of the proposed plant will be 250ml portion pack and 1 Litre UHT configuration. Initial capacity will be up to 100m litres, with capability to significantly increase this capacity in the longer term. The facility will be built on state of the art processing and packaging capability, with a focus on cost efficiency. It will incorporate a smaller carbon footprint, use considerably less water, and be more energy-efficient than equivalent UHT facilities in Australia and SE Asia.

Subject to final feasibility and site selection, Pactum expects site preparation to begin from October 2012 with commissioning by mid-2013.

Pactum expects final feasibility and site selection to be completed by June 2012.

About Pactum Australia

Pactum is an independent low cost manufacturer of a broad range of UHT products for private label and proprietary customers. Pactum currently manufactures a range of UHT beverages in 1 Litre format including dairy alternative beverages (Soy, Rice and Almond Milk), Cooking Stocks, Dairy Milk, Lactose Free Milk and other non-dairy beverages. Pactum is expanding its packaging capability at its southern Sydney site to provide portion pack UHT (200-330ml configuration) for value added beverages. The expansion at a total investment cost of approximately $7 million is scheduled to be completed by September 2012 and will provide portion pack capacity of up to 40m packs per annum.

Asian Dairy Demand

China and South East Asia have only begun to consumer increased quantities of milk. Currently China’s per capita dairy consumption at 12.3kg / capita is 86% below US per capita consumption, with Indonesia at 1.4kg / capita and Vietnam at 2.0kg / capita*. Overall demand for dairy in the region is being driven by increasing population, rising gross domestic product, higher disposable incomes and increased urbanisation. These factors are leading to change in diets and increased consumption of dairy products. Local supply in Asian markets to meet this demand will be challenged due to increased cost of production and quality of product, with increasing requirements on surplus producing countries such as Australia and New Zealand.

Source: USDA

For further information, please contact:

Rory J F Macleod Group Executive Director

Freedom Foods Group Limited

Tel: +61 2 9526 2555

Appendix – Chinese Language Version

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Freedom Foods Group Limited ABN 41 002 814 235 80 Box Road Taren Point NSW 2229

2012 年 4 月 30 日

公司发布办公司 澳大利亚证券交易所 Level 4, 20 Bridge Street Sydney NSW 2000

自由食品集团 澳大利亚帕克特姆公司 -UHT 乳制品产能扩展

自由食品集团 ( 澳大利亚证交所编号 :FNP) 今天隆重宣布，集团下全资子公司澳大利亚帕克特姆 公司（帕克特姆）为适应出口和国内市场对高品质牛奶的需求，正在计划在澳大利亚东南部建 立一间全新的高水准 UHT 生产厂。

这间新厂的市场关注点将主要集中在为包括中国在内的东南亚独立客户和自有品牌客户供应高 品质的 UHT 牛奶。

随着消费人群的收入增长和营养的提高，这些市场对低成本国家如澳大利亚所生产的高品质， 安全的乳制品需求将保持长期强劲地增长。在亚洲市场，人们对来自澳大利亚的高品质牛奶十 分认可。

派克特姆公司在过去的几年中发展强劲（产量上升 34% ）。新增的产能（过去十年中澳大利亚第 一个绿地 UHT 工厂）在为悉尼的工厂提供额外附加值乳品生产能力的同时，也将迎合市场对 UHT 牛奶不断增长的需求。派克特姆目前正在为其悉尼工厂进行产能增容，添加小包装（ 200330 毫升）增值乳品的生产线。

在澳大利亚东南部的新厂可以长期接触到最经济和最可持续发展的牛奶。派克特姆公司与澳大 利亚乳业有着很强的联系，这种联系将使公司与澳大利亚乳农建立长期的高品质牛奶供应关系 成为可能。新厂将为澳大利亚牛奶供应提供增值的成长机遇，并开发长期可持续发展的出口市 场。

新厂的最初将设 250 毫升的小包装和一升装的 UHT 生产线。

最初产能将达１亿升 , 同时确保今后有大幅增产的空间。新厂将采用最新的处理和包装设备， 以高效率 , 低成本为主要关注点。同时新厂将加入减少碳足迹的设计，极大地节约用水，从而 使其比澳大利亚和东南亚任何一座同等规模的 UHT 工厂更加能够有效率地利用能源。

取决于最后的可行性研究和厂址的选择，派克特姆工厂建设预计在 2012 年 10 月开工， 2013 年中 期试运行。

派克特姆公司期望可行性报告和选址在 2012 年 6 月结束。

澳大利亚派克特姆公司介绍

派克特姆是澳大利亚东海岸一间独立的，为自有品牌和私有品牌生产 UHT 产品的低成本制造

商。派克特姆目前生产一系列一升装的 UHT 饮品包括牛奶替代饮品（豆奶，米奶和杏仁奶）

，液体调味料，乳奶，无乳糖牛奶和其他非乳饮品。帕克特姆目前正在为其悉尼南部的工厂进 行产能增容，添加小包装 UHT （ 200-

330 毫升）增值饮品的生产线。这部分扩展投资额近７００万澳币计划在２０１２年９月份完 工，届时小包装产品生产能力将达每年４千万包。

亚洲市场对乳制品的需求

中国和东南亚消费者的牛奶需求刚刚起步。

目前中国的人均乳制品消费量在 12.3 公斤 / 每人。比美国要少 86% 。

印度尼西亚人均消费量是 1.4 公斤 / 每人，越南是 2.0 公斤 / 每人。 人口增加，经济增长， 收入的提高和城市化进程是这个地区对乳制品需求增加的主要驱动因素。这些因素导致饮食结 构变化和对乳制品摄入的增加。亚洲本地乳品供应由于生产成本的增加和产品质量很难迎合这 个需求，进而转向澳大利亚，新西兰等乳业生产有盈余的国家。

来源： USDA

如需进一步信息，请联络：

罗瑞 · J F 麦克劳德 集团总裁

自由食品集团

电话 : +61 2 9526 2555