WINGARA AG LTD — Investor Presentation 2018

Aug 8, 2018

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Investor Presentation

August 2018

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Wingara – Partnering primary producers to expand global product reach

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August/September 2018

Complete 1[st] Phase development of Raywood Processing and Storage Facility in 8 months with throughput capacity of 150,000MT p.a. ,

March 2018

April 2018 Taken over APCS operation 2018

Raised $6.735 million via private placement to acquire Austco Polar Cold Storage (“APCS”)

December 2017 September 2017 Secured permit to commence the JC Tanloden throughput reached development of its Raywood site 30,000MT p.a. Executed contract to acquire the land at July 2017 Epsom facility

July 2017 Epsom facility Acquired 30Ha site in Raywood, Victoria (20km north of the Epsom May 2017 facility in Bendigo) 2017

• Acquired 20Ha property in Dooen, Victoria to develop processing and distribution facility.

• (9km north-west of Horsham)

October 2016 JC Tanloden throughput reached 25,000MT p.a. February 2016 Raised $4.9 million to expand Epsom’s production capacity and lists on the ASX 2016 February 2015 Acquired JC Tanloden’s operating 2015 assets at Epsom facility located in Bendigo, Victoria (throughput 1985 16,000MT p.a.) JC Tanloden’s was established as an 1985 exporter of oaten hay

Raised $4.9 million to expand Epsom’s production capacity and lists on the ASX

• We adopt an alternative investment approach to “Australia is the food bowl of Asia” thematic:

• Diversification: strategic focus on multiple product areas with high international demand (oaten hay and red meat)

• Barrier to Entry : developing and investing in assets that are critical to participate in the global trade based on FTAs’ requirement and stringent bilateral quarantine practice

• Partnership: utilising direct accumulation strategy at farm gate to build robust platform to meet demand from international client base

• Growth: preferred gateway for producers to market a suite of products, including pulses and grains

• We are leaders in key export markets with proven ability to attract and retain significant counterparties

• We will continue to assess acquisition opportunities to strengthen our advantage

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Asian Demand for Quality Australian Produce

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Our high credit worth client base and catchment areas in strategic locations

Current locations Green and Red catchment

Major export destinations

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SOUTH
Japan AUSTRALIA NEW SOUTH WALES
 Good presence in Japan through
strong relationships with key trading Griffith
houses / end users such as (National
Federation of Agricultural Co-op
Associations.
Bordertown
Raywood
VICTORIA
Horsham
Epsom
South Korea
Melbourne
 Top 5 marketers of hay in South
Korea Geelong
Green Products
Taiwan
Green Grower Catchment
 Wingara is one of the largest hay
providers to Southern Taiwan with Red Products
strong market presence Red Products Supplier Catchment
Frozen & Fresh Beef Frozen & Fresh Lamb
143,000T (exported) 115,000T (exported)
China
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• Clients include some of the largest multinational food, agri-businesses and trading companies.

• Grains & Legumes 7.63m mt (produced) 2.98m mt (exported)

Oaten Hay

1.2m mt (produced) 217k mt (exported)

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FY18 financial dashboard

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Solid foundation for Wingara’s next phase of growth after integration of APCS and commencement of operation at Raywood

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Revenue [1] EBITDA [2] Total assets
FY19 $35+m $6+m $43m
(Forecast)
Change +321% +545% 84%
FY18 $10.9m $1.088m $23.3m
(Actual)
25% 80% 71%
FY17 $8.7m $605K $13.6m
(Actual)
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1. FY18A and FY19F figures comprise a full 12 months of operations compared to nine months for FY17 (from 31 March 2016 to 30 June 2017) 2. Excluding transaction costs

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Wingara’s growth strategy

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Wingara is strongly positioned to capitalise from growing customer demand in the next 2–5 years

Combined throughput capacity of up to 200,000 MT p.a. across Bendigo, Raywood and Horsham Storage capacity in excess of 80,000 MT Strengthen market share in key export destinations Leverage strong logistic, trading and exporting capabilities and expand product range Infrastructure to facilitate pulse, grain and red products based on demand Differentiated by offering flexibility in relation to packaging, delivery schedule and quality Strategic acquisition opportunities complimentary to Wingara’s current capabilities Focus on opportunities to leverage Wingara’s strong customer base, trading and logistics expertise Blast freezing and logistic throughput to exceed 50,000 MT p.a. with accreditation for export to EU, US, China, Japan and is Halal certified Strong relationships with key long term customers (15+) to expand and increase existing earnings Innovation and cost management to improve efficiency 01 Develop hay business 03 Diversify product range 04 Undertake strategic acquisitions 02 Improve cold storage business

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Appendix

Australian Meat Exports

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Positive outlook on demand for high-quality Australian beef in key regions including the US and Asia

• Many developing markets are marked for significant improvements in household wealth, which generally flows to an increase in protein consumption

• Combined with natural population growth, beef consumption on a global level is expected to continue to increase

• The uplift in volumes going to Japan and China is helping to offset a drop in volumes to Korea and Indonesia

• The US and China are forecast to be the two growth countries for beef consumption globally

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Australian beef and veal export market
Japan US South Korea Greater China Other Fore castsscasts
1,400
1,200
1,000
800
600
400
200
0
1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018f 2019f 2020f 2021f 2022f
Tonnes swt (‘000)
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Source: DAWR, MLA forecasts
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Australian Hay Exports

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Rising demand for quality beef and milk among a growing Asian middle class is projected to boost the demand for quality Australian hay feed

• Exports as a share of overall hay production have increased materially over the last decade

• Stable hay quality and lack of contamination underpin the favourable reputation of Australian hay in export markets

• Oaten hay has been proven to increase milk production of dairy herds

• Under the Free Trade Agreement with China, only oaten hay from Australia is allowed to be imported

• China demand has increased by by 4 folds in the past 5 years

Growth drivers from overseas markets

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Insufficient land
to produce enough
quality feed to
meet demand
Governments that
Large populations wish to increase
with growing the level of self
disposable income sufficiency in dairy
and meat production
Demand for
Australian
hay
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Total Australian hay exports (1990–2018 YTD)

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1,400
1,200
1,000
800
600
400
200
-
1990 1994 1998 2002 2006 2010 2014 2018 YTD
Kt
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*2018 YTD volume to 30 June 2018 Source: Australia Fodder Industry Association (‘AFIA’) – Export statistics

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