SELECT HARVESTS LIMITED — Investor Presentation 2016

Nov 9, 2016

Select Harvests Limited (“ASX:SHV”)

Wilson HTM Investor Meeting

November 2016

Disclaimer & Basis of Preparation

This presentation is provided for information purposes only and has been prepared using information provided by the company. The information contained in this presentation is not intended to be relied upon as advice to investors and does not take into account the investment objectives, financial situation or needs of any particular investor. Investors should consider their own individual investment and financial circumstances in relation to any investment decision.

Certain statements contained in this presentation may constitute forward-looking statements or statements about future matters that are based upon information known and assumptions made as of the date of this presentation. These statements are subject to risks and uncertainties. Actual results may differ materially from any future results or performance expressed, predicted or implied by the statements contained in this presentation.

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FY16 Results in Context

Underlying NPAT (A$ million)

Planted/Bearing Almond Orchards (acres)*

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59.4
27.9
22.9 21.6
9.5
FY12 FY13 FY14 FY15 FY16
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Harvest Volume (MT)

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Planted Acres Bearing Acres
16,521
13,311 13,824
11,943 12,319
10,022
8,804 8,804 9,295 9,443
FY12 FY13 FY14 FY15 FY16
Planted acres as of August End
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Almond Price (A$/kg)

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14,500 14,200
12,000
10,500
5,830
FY12 FY13 FY14 FY15 FY16
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11.45
8.50
8.08
6.38
5.08
FY12 FY13 FY14 FY15 FY16
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FY16 was the second best financial performance in the company’s history

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Market Macro

• Demand remains strong for both Almond and Food division

• Consumers continue to see the benefits of all super foods with new product development remaining buoyant

• Consumers and industry committed to consuming less sugar, preferring Green & Clean alternatives

• Research continues to support increase consumption of almonds and other plant products to:

• Improve heart health

• Combat diabetes

• Improve cognitive function

• Reduce mortality

• Increase fertility

• Assist weight control

• Land and water remain a finite resource

• Asian middle class continues to be a strong driver of future demand

See positive signs with demand increasing

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Almond Market Outlook – US Shipments 2015/16

This Year Last Year (million lbs) (million lbs) US Export Shipm	Growth (%) ents	This Year Last Year Growth This Year Last Year (million lbs) (million lbs) (%) (million lbs) (million lbs) US Domestic Shipments Total US Almond Shi	Growth (%) pments
Last 12 months 1,371.40 1,104.29	24%	615.23 631.26 -3% 1,986.63 1,734.55	15%
Last 9 months 1,102.83 847.99	30%	478.62 477.87 0% 1,581.45 1,325.86	19%
Last 6 months 762.92 531.04	44%	334.86 313.60 7% 1,097.78 844.64	30%
Last 3 months 430.00 276.65	55%	177.11 155.08 14% 607.11 431.73	41%

Source: Almond Board of California Position Report October 2016

Increasing US shipments relative to prior periods are gaining pace

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Select Harvests Update

• The 2017 crop is at nut maturity stage, with growth phase close to complete

• Pollination: strong bloom with good crossover. Record rains have caused operation challenges, but no significant negative impact. Water availability and pricing outlook is positive, temp price now below $100/ML vs $200/ML

• last year

• Crop estimate: excess of 15,000 MT

• Almond price: strengthening as global demand rebounds, but currency having negative impact

• Food Division performance: stable base for growth

• Maintaining focus on cost and productivity

• AGM : 11am Friday November 25[th] ’; RACV, Club Pavilion, Level 2, 501 Bourke Street, Melbourne

SHV FY17 Crop estimated remains in excess of 15,000 tonnes

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Significant Organic Volume Growth

80% of current planted acres are cash generative

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Current plan is fully funded and no additional processing investment required

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Strategy - Planning for Excellence & Growth

1. CONTROL CRITICAL MASS OF ALMONDS

Secure the critical mass of nuts needed to maximize profitability and leverage the global almond opportunity.

2. IMPROVE YIELD & CROP VALUE

Improve yield and overall crop value by perfecting on-farm and farm to factory practices .

3. BE BEST IN CLASS SUPPLY CHAIN

Continuously improve our supply chain, achieving high quality, low cost and optimum capital utilisation.

4. INVEST IN INDUSTRIAL & TRADING DIVISION

Allocate resources to leverage our trading skills and grow sales in the industrial channel .

5. STRENGTHEN PACKAGED FOOD BUSINESS

Commit funds and develop structure to generate domestic and export growth for the packaged food business delivering sustainable returns above the cost of capital .

6. FIX OUR SYSTEMS & PROCESSES

Develop the business systems and processes required to be a global industry leader .

7. NON ORGANIC GROWTH

Acquire businesses in related categories leveraging existing capabilities that are EPS accretive and deliver sustainable returns above our cost of capital.

8. ENGAGE WITH OUR PEOPLE & OUR STAKEHOLDERS

Engage with investors and our industry while developing the team required to be a global industry leader.

We have a clear strategy – execution has delivered growth and productivity

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SHV 2016/7 Business Objectives

1. Zero Harm OH&S strategy

2. Improve average mature tree yield

3. Acquire orchards at the right price

4. Grow and strengthen Food Business

5. Implement Greenfield program

6. Implement Biomass/Cogen plant

7. Implement Parboil

8. Implement 1Select ERP platform

9. Maintain Balance Sheet & Cash Flow strength whilst growing

10. Improve asset productivity & reduce cost

A world class, growing and funded, fully integrated Australian based, export food business – almond orchards, processing, trading, brands, exports

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Thank you

Please direct any queries to:

Paul Thompson	Paul Chambers	Andrew Angus
Managing Director	Chief Financial Officer	Investor Relations
+61 3 9474 3544	+61 3 9474 3544	+61 402 823 757
Please note that background material/data regarding the global almond industry can be found on the		Select Harvests website - www.selectharvests.com.au

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