SELECT HARVESTS LIMITED — Capital/Financing Update 2011

Dec 4, 2011

Select Harvests’ positive about outlook for 2012 amid strong almond market fundamentals

5 December 2011

Select Harvests’ is positive about the outlook for the remainder of this year with early estimates supportive of an improved almond crop in 2012.

Select Harvests, Chief Executive, John Bird said : “We started the year with a good blossom, and growing conditions so far have been supportive of a significant increase in crop volumes over the 2011 crop.

“Based on our initial crop estimates the 2012 crop for our Company Orchards will be approximately 75% above the 2011 crop, assuming normal conditions leading up to and during harvesting. Increased volumes are being driven by orchard acquisitions, consistent with our strategy to expand our Company Orchards, as well as from the increased maturity profile of our orchard portfolio and improved yields.”

Mr Bird added, “Fundamentals in the global almond market also remain strong with demand from India and China underpinning a firmer almond price. If maintained the price increase coupled with the softening of the Australian dollar against the US dollar will support Select Harvests’ earnings for the coming year.”

Despite a delayed harvest shipments from the USA, the world’s largest almond producer, increased 8% in the first quarter of FY12 (August to October). The increase was led by China, where demand rose 9% to 34,000 metric tons[1] (FY11 total, 76,200mt). Shipments to India also increased substantially, up 27% to 20,000 metric tons (FY11 total, 48,000mt). Record shipments from California in September and October indicate that Australia can expect an active shipping program of Australian almonds from March onwards when the crop is harvested.

Australia is on track to become the second largest producer of almonds globally by 2015 and benefits from the counter-seasonal timing and premium quality of the Australian almond crop. Around 70% of Australian almonds are exported to overseas markets including India, China, the Middle-East and Europe.

Mr Bird stated “With increased crop potential, strong fundamentals and a lower Australian dollar Select Harvests’ can look forward to 2012 with a fair degree of optimism.”

For further information please contact:

Investors and analysts

John Bird, Managing Director 03 9474 3544 Paul Chambers, Chief Financial Officer 03 9474 3544

Media

nightingale communications 03 9614 6930 Kate Inverarity 0413 163 020 Tim Williamson 0458 680 130

1 Almond Board of California November 2011 Global Update

About Select Harvests

Select Harvests is a leading Australian owner and manager of almond orchards. The Company provides services including orchard establishment, tree supply, farm management, harvesting, processing, and marketing. Select Harvests is also Australia’s leading manufacturer, processor and marketer of a range of nuts and fruit based products to the Australian retail and industrial markets, and exports almonds to several countries in Asia, Sub-Continent, Europe and the Middle East.