RURAL FUNDS GROUP — Interim / Quarterly Report 2021

Aug 24, 2021

APPENDIX 4E

Financial report

Name of entity: Rural Funds Group

ARSN: Rural Funds Group comprising Rural Funds Trust (ARSN 112 951 578) RF Active (ARSN 168 740 805)

For the year ended: 30 June 2021

Corresponding period: 30 June 2020

Results for announcement to the market

Results for announcement to the market	Results for announcement to the market
		$’000	Up/Down	% movement
Revenues from ordinary activities from continuingoperations		67,166	Up	1%
Net profit after income tax from continuing operations		119,634	Up	152%
Total comprehensive income attributable to unitholdersfrom continuing operations		123,917	Up	105%
		Amount persecurity(cents)	Frankedamount persecurity	Tax rate forfrankingcredit
June 2020 distribution per security(record date 30 June 2020, paid 31 July 2020)		2.7118	Nil	N/A
September 2020 distribution per security(record date 30 September 2020, paid 30 October2020)		2.8203	Nil	N/A
December 2020 distribution per security(record date 31 December 2020, paid 29 January2021)		2.8203	Nil	N/A
March 2021 distribution per security(record date 31 March 2020, paid 30 April 2020)		2.8203	Nil	N/A
June 2021 distribution per security(record date 30 June 2020, paid 30 July 2021)		2.8203	Nil	N/A
Record date for determining entitlements for theJune 2021 distribution		30 June 2021

No amounts of foreign sourced dividends or distributions are included in the above distributions.

Net tangible assets per security

Net tangible assets per security
	30 June 2021	30 June 2020
Net tangible assets per unit ($)	1.58	1.30

Adjusted Net asset value per security

	30 June 2021	30 June 2020
Adjusted Net asset value perunit including water entitlementsheld at fair value ($)	2.17	1.94

Additional Appendix 4E disclosure requirements can be found in the Directors’ Report and the 30 June 2021 Consolidated Financial Statements and accompanying notes.

Dividend Reinvestment Plan

Rural Funds Group operates a distribution reinvestment plan in which all unitholder residents in Australia and New Zealand are eligible to participate at their election. The number of units received from a distribution is based on dividing the distribution (after deduction of taxes or any other payment or levy applicable) by the average of the daily volume weighted average price of units sold on the ASX during the 20 trading days before the record date less a discount of 1.5% on the calculated price.

Unitholders may change their participation in the plan at any time. However, in order to be valid and effective for a distribution payable, the election form to change participation must be submitted to the unit registry by the day after the nominated record date for that distribution.

Audit

This report is based on the Consolidated Financial Statements which have been audited by PricewaterhouseCoopers. There are no items of dispute with the auditor and the audit is not subject to qualification.