WINGARA AG LTD — Investor Presentation 2019

Jun 12, 2019

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Financial Year 2019 Investor Presentation

June 2019

Wingara Ag Limited - Overview

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Wingara AG Ltd (WNR.ASX) owns and operates value-add, mid-stream assets specialising in the processing, storage and marketing of high-quality Australian agricultural produce for export markets through two business divisions; JC Tanloden and AustCo Polar

Wingara’s growth strategy is to build a sustainable platform for processing and marketing agricultural produce with a focus on products for the dairy and meat sectors. We differentiate ourselves through a reputation for highquality service for both our primary producer suppliers and Asian importer end-customers

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Business Model: Fodder processor and marketer for fodder products including oaten, wheaten, barley, canola hay and straw

Assets: Two sites; Epsom & Raywood VIC providing a combined 110,000t processing capability and 30,000t storage capacity

Markets: Selling to domestic and export markets including China, Taiwan, Japan and Korea

FY19 Revenue $16.8m, EBITDA $2.7m (excl. corporate costs)

Initial operational focus on Victoria

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Business Model: Value-add and logistic services for red meat export including blast freezing and cold storage

Assets: Laverton, VIC across 1 Hectare. Blast freezing throughput of 40,000 packs per week plus storage capacity of 10,000 standard size pallets

Markets: Export accredited to key destinations including China, Japan, Korea, EU, USA, Middle East (including Halal certification)

FY19 Revenue $12.36m, EBITDA $3.36m (excl. corporate costs)

Page 2

Wingara AG – Trading History

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Wingara AG was listed on the ASX through the reverse takeover of Biron Apparel Ltd, raising $4.8m to fund the expansion of the Company’s production facilities at Epsom, VIC. Wingara raised an additional $6.7m via a Placement in March 2018 to fund the acquisition of AustCo Polar

Top Shareholders

Capital Structure Summary

Rank	Shareholder	Shares	% of SOI
1	NAOS Asset Management	25,496,663	24.3%
2 3	Richard Gazal Kellie Barker	14,681,691 10,097,727	14.0% 9.6%
4	Gavin Xing	10,000,000	9.5%
5	Prime Value Asset Management	3,896,691	3.7%
6 7	Jane Superannuation Pty Ltd F & L Diamante Pty Ltd	2,857,143 2,056,187	2.7% 2.0%
8	Eric Jiang	2,000,000	1.9%
9 10	Avzath Pty Ltd Ausnom Pty Ltd	1,780,249 1,655,937	1.7% 1.6%

*Computershare - at market close 5 June 2019

Share price	A$	0.240
Shares on issue	M	105.11
Market Capitalisation	A$m	25.23
Cash & STI	A$m	0.66
Debt	A$m	27.24
Net Debt	A$	26.58
Enterprise Value	A$m	52.46
Unlisted options	m	3.00

• *As at market close 11 June 2019

Share Price Performance

5 Year Group Financial Performance

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A$
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2.50mm
0.41
2.00mm
0.36
1.50mm
0.31
1.00mm
0.26 .50mm
0.21 0
Wingara AG Limited (ASX:WNR) - Volume Wingara AG Limited (ASX:WNR) - Share Pricing
Volume
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A$M
35.0
30.0
25.0
20.0
15.0
10.0
5.0
0
FY2015 FY2016 FY2017 FY2018 FY2019
Revenue Gross Profit EBITDA
FY15 and FY16 30 June Year End. FY17 and FY19 reclassified to 31 March 2018
Year End consistent with current balance date
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Page 3

Business Model

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Wingara’s business model is focussed on controlling the bottlenecks linking producers of agricultural product and key domestic & export markets. High barriers to entry with export accreditation

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Risk Management, Corporate Governance, Finance, Legal & Regulatory Oversight

Suppliers

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Customers

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Hay & Fodder Processing & Marketing

• Export accredited with limited competition

• Blending to customer specification

• Product processing and trading

• Fodder storage and supply chain management

• Sourcing and accumulation

Domestic – farmers and other primary producers

International – trading houses (as well as direct end users) in China, Korea, Japan & Taiwan; demand cannot be met by current supply

Farmer/ Primary Producer

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Meat Processers & Abattoirs

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Blast Freezing & Cold Storage

• Blast-freezing cut meat for longevity

• Cold storage

• Logistics and export management

Domestic – supermarkets, butchers, food service providers

International – trading houses in China, Korea, Japan & Taiwan

*AustCo’s suppliers negotiate the purchase. Wingara does not take risk on sales of meat products

Page 4

FY19 Financial Results Summary

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Record revenue & EBITDA as asset base continues to grow

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Revenue [1] EBITDA [2] Total assets
(Actual) FY19 $29.0m $4.8m $47.0m
166% 336% 101%
(Actual) FY18 $10.9m $1.1m $23.3m
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FY19 Operational Highlights:

• Completed the acquisition of AustCo Polar substantially diversifying our product, customer and supplier base into red meat products

• Undertook capital works program at AustCo with throughput capacity >100K tonnes pa and storage capacity of >10K pallets

• Completed Phase 1 developed of the Raywood facility, 20km north of Bendigo; achieved this within 12 months of purchase

• Raywood facility received export approval from China; one of only three processing facilities to receive a license in the past 3 years

• Continued assessment of energy efficiency programs with installation of 275kw of solar panels at our Epsom facility and planned solar generation installation at Raywood and AustCo Polar

• Refinancing of senior bank debt facility on improved commercial terms with Westpac

1. FY18A and FY19A are the 12 months to 31 March in each respective year 2. Excluding transaction costs

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Division Overview - JC Tanloden

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Why Oaten Hay?

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Australian oaten hay is a prime source of digestible fibre for dairy and beef cattle

Oaten Hay Overview

• Oaten hay is the primary fodder product that Australian producers export

• High demand from the global market as a reliable, high quality fodder that meets stringent animal production requirements

• As lucerne (or alfalfa) is the most widely exported fodder commodity worldwide, exporting oaten hay provides a point of differentiation for Wingara

• Oaten hay improves milk production, particularly in cold and humid environments

• Demand from China has accelerated in the past 5 years and cannot be met. The market demand is 1.5 – 2.0m MT*

Oaten Hay Export Demand

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|||||
|---|---|---|---|
|Competitive Landscape|
|Company|Locations|Products|
|•|Epsom & Raywood VIC|•|Oaten & wheaten hay|
|•|Undeveloped site in|•|Barley|
|Horsham, VIC|•|Canola|
|•|New Norcia, York & Wagin|•|Hay & straw|
|WA|•|stock feed pellets|
|•|Balaklava SA|
|•|Goornong & St Arnaud VIC|
|•|Northam, WA|•|Oaten & wheaten hay|
|•|Straw|
|•|Oaten & wheaten hay|
|•|Balaklava, SA|•|Straw|
|•|Brookton, WA|•|Pack products|
|•|Kapunda, SA|•|Oaten hay|
|•|Horsham, VIC|•|Straw|
|•|Stock feed pellets|
|•|Yerecoin, WA|•|Oaten & wheaten hay|
|•|Bridgewater, VIC|•|Straw|
|•|Bedding straw|

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Source: Company websites, WNR management estimates, Australian Fodder Industry Association Page 7

Overview of JC Tanloden

Established in 1985, JC Tanloden has the largest fodder production capacity on the east coast of Australia. We purchase, process and transport our high quality produce to our domestic and global customers

Services

Revenue Model

Hay Accumulation

• Supply sourced from >2,000 farmers over 100,000km[2 ] throughout Victoria

• Purchase typically occur during November - January

• Average payment term of 45 days to farmers

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Customers
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• Longstanding relationships with customers; many over multiple generations

• Cash and letters of credit at sight of product

• Regional south eastern Australian supplier base

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Processing

• Quality control testing on new hay deliveries via NATS

• Storage capability of up to 3 years

• Blend and cut bales to reduce size by 50% for logistical efficiencies

• Repackaging and fumigation

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Logistics
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• Domestic and interstate markets

• Offshore freight to key markets including China, Taiwan, South Korea and Japan

• New state of the art facility at Raywood

• Site improvements at Epsom continuing

• Based on a tolling model

• Fees charged vary dependent on the grade of hay; usually consistent in terms of margin based on cost-plus structure

• Upside potential from trading of oaten hay, wheat, grain and other products in domestic market while its playing a service role to the growers.

Division Financial Performance FY16 – FY19

A$M

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20.0
15.0
10.0
5.0
0.0
FY2016 FY2017 FY2018 FY2019
-5.0
Revenue EBITDA NPAT
FY16 and FY17 30 June Year End. FY18 and FY19 31 March Year End
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Page 8

Existing Assets & Capacity

Wingara has invested significantly into expanding the combined throughput capacity of Raywood, VIC to 150K MT per annum within four years with another site at Horsham, VIC, to bring capacity to 250K MT

• Raywood represents a milestone in Wingara’s development as a multi-product, multi-region and multi-currency platform for Australian primary producers to expand their export potential

• Significant upside exists from the expansion of Epsom and development of Horsham as Wingara responds to increasing demand

Hay throughput capacity

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MT
300,000 Significant growth in capacity
250,000
250,000
200,000
200,000
150,000
100,000
70,000
50,000
50,000 33,000 33,000 33,000 33,000 33,000 37,000
0 0
0
FY17A FY18A FY19 3 Yr Target
Epsom Raywood Total Epsom Raywood Total Epsom Raywood Total Epsom Raywood Total
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Current locations and catchment area

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SOUTH NEW SOUTH WALES
AUSTRALIA
Griffith
Horsham Raywood VICTORIA
Epsom
Melbourne
Geelong
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Division Overview – AustCo Polar

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Overview - Austco Polar Cold Storage

Established in 1987, Austco Polar Cold Storage owns and operates a cold storage facility which specialises in temperature controlled facilities, blast freezing, storage and distribution for domestic and international clients

Services

Financial Performance – FY16 – FY19

• Storage & Handling Blast Freezing Tenancy

• • Receive containers • Blast freeze product; • Chillers and and store frozen extends shelf life freezers occupied

• products (red meat, from 12 weeks to up by various food

• seafood, duck – no to 3 years in chilled suppliers on long

• pork) conditions term contracts

• Complete exporters • Gets meat to -12[o] C documentation and • Process capacity of product selection 20K packs per week

• Average tenure of clients of 5 years

• Load domestic and • Key clients account export containers for more than 30% with frozen product of VIC meat production

Revenue Model

• Service oriented to • Tolling based on volume cover fixed costs to key exporters

• Tolling based on volume • Rent revenue charged to key exporters monthly based on

• • Cost plus arrangement freezer space

• Underpinned by export • Cost plus arrangement freezer space demand and blast • Seeing steady growth in • Mitigates revenue profile freezing demand and meets fixed cost in winter periods

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A$M
14.0
12.0
10.0
8.0
6.0
4.0
2.0
0.0
FY2016 FY2017 FY2018 FY2019
-2.0
Revenue EBITDA NPAT
1. FY 16, FY17 & FY18 years all 30 June balance date
2. FY19 12 months to 31 March 2019
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• FY19 Revenue: 25% • FY19 Revenue: 50 - • FY19 Revenue: 1555% 20%

Page 11

Synergies between AustCo Polar & JC Tanloden

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Austco is a strategic asset for Wingara on our journey to becoming a diversified provider of agricultural products:

• Existing export accreditation provides ability to export new products to existing key Asian export markets

• Provides access to new end customers and markets

• Further develop relationships with existing supplier network of JC Tanloden by being able to offer additional services beyond purchasing their hay produce

• Significant barriers to entry with replacement cost estimated at $30m - 35m. New facilities must operate domestically for one years prior to applying for export accreditation into key Asian export markets. Currently there are 7 cold storage players in VIC which have received certification and accreditation from the Administration of the Peoples Republic of China

• Unique natural hedge against drought conditions in the JC Tanloden business highlighted on the graph below. Increased feed costs driven by drought conditions typically result in increased demand for Austco’s services due to higher slaughter rates

Austco is a natural hedge for our hay business

VIC Red Meat Production vs. Rainfall

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900 1000
900
850
800
700
800
600
750 500
400
700
300
200
650
100
600 0
1998 2001 2004 2007 2010 2013 2016
VIC Red Meat VIC Rainfall
Rainfall (mm)
Red Meat Produced (t) (,000)
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Current location & catchment area

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NEW SOUTH
SOUTH
WALES
AUSTRALIA
Griffith
Bordertown
VICTORIA
Austco Melbourne
Geelong
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Data source: Australian Bureau of Statistics & Bureau of Meteorology

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FY2019 Results & Outlook
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Page 13

FY19 Financial Results

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Profit & Loss

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||||
|---|---|---|
|FY2019|FY2018|
|A$M|A$M|
|Revenue|
|Hay Sales|16.76|10.76|
|Cold Storage & Blast Freezing|12.36|-|
|Total Revenue|29.12|10.76|
|Cost of sales|(13.65)|(5.30)|
|Gross Profit|15.47|5.47|
|Other income|0.14|0.17|
|Administration expenses|(8.84)|(2.75)|
|Freight expenses|(1.69)|(1.60)|
|Occupancy expenses|(0.33)|(0.19)|
|EBITDA|4.75|1.09|
|Depreciation|(2.12)|(0.60)|
|Finance costs|(1.81)|(0.38)|
|Transaction expenses|(0.88)|(0.86)|
|Gain on bargain purchase|0.99|-|
|NPBT|0.95|(0.75)|
|Income tax|(0.46)|0.32|
|NPAT|0.91|(0.43)|

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Commentary

• Transformational year in FY2019, with a significant acceleration in revenue, EBITDA and asset base with only part of the Raywood facility coming online

• Raywood was commissioned in Jan 2019 and Austco Polar has 11 months of operations included for FY2019

• AustCo Polar capital improvements works were completed in November 2018 and we anticipate seeing further revenue and EBITDA growth through FY2020

• Administration expenses including operating expenses increased as the JC Tanloden division expanded capacity

• Maintained freight expenses through FY2019 through route improvement and cost negotiation with key suppliers

• CAPEX program has continued throughout the past two years and Wingara is beginning to see the benefits of continued investment in processing and storage capacity

1. AustCo Polar purchased in April 2018. FY2019 reflects full year of AustCo Polar ownership 2. Excluding transaction costs

Page 14

FY19 Financial Results

Cash Flow

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||||
|---|---|---|
|FY2019|FY2018|
|A$M|A$M|
|Cash flows from operations|
|Receipts from customers|28.23|11.02|
|Payments to suppliers, employees|(26.26)|(10.64)|
|Interest received|0.02|0.05|
|Interest paid & finance costs|(1.81)|(0.38)|
|-|
|Income taxes received/ (paid)|(0.06)|
|Net cash from operating|0.18|(0.00)|
|Cash flows from investing|
|Purchase of PPE|(25.34)|(5.43)|
|-|
|Payments for other non-current assets|(1.78)|
|Proceeds from termination of term deposit|-|0.08|
|Payments from business acquisition/|
|related deposits|(2.74)|(0.34)|
|Net cash from investing|28.08|(7.46)|
|Cash flows from financing|
|Proceeds from issue of shares|0.05|6.74|
|Transaction costs for issue of shares|-|(0.45)|
|Proceeds from borrowings|40.39|7.62|
|Repayment of borrowings|(21.16)|(4.55)|
|Net cash for financing|19.29|9.36|
|Net increase (decrease) in cash|(8.61)|1.89|
|Cash & equivalents at the beginning of the|
|financial year|8.70|6.81|
|Cash and equivalents at the end of|
|financial year|0.91|8.70|

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Balance Sheet

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||||
|---|---|---|
|FY2019|FY2018|
|A$M|A$M|
|ASSETS|
|Cash & equivalents|0.66|8.70|
|Trade & other receivables|1.46|0.40|
|Inventories|5.36|1.22|
|Current tax receivables|-|0.12|
|Other current assets|0.12|0.37|
|Total Current Assets|7.61|10.81|
|Property, Plant & Equipment|37.65|8.28|
|Deferred tax assets|0.29|0.33|
|Intangible assets|1.82|1.82|
|Other non-current assets|0.03|2.12|
|Total Non-Current Assets|39.79|12.55|
|TOTAL ASSETS|47.40|23.36|
|LIABILITIES|
|Trade & other payables|3.81|1.87|
|Borrowings|8.30|4.81|
|Employee benefit obligations|0.43|0.12|
|Total Current Liabilities|12.54|6.79|
|Borrowings|19.21|4.48|
|Employee benefit obligations|0.52|-|
|Total Non-Current Liabilities|19.73|4.48|
|TOTAL ASSETS|32.26|11.27|
|NET ASSETS|15.14|12.09|
|EQUITY|
|Contributed equity|19.98|17.98|
|Other reserves|0.17|0.00|
|Accumulated losses|(5.00)|(5.91)|
|TOTAL EQUITY|15.14|12.09|

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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 logistics, 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 We will continue to assess strategic acquisition opportunities complimentary to Wingara’s current capabilities with a particular focus on opportunities in the protein supply chain Focus on opportunities to leverage Wingara’s strong customer base, trading and logistics expertise We regularly assess a number of opportunities against our strict acquisition criteria 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 Expand JC Tanloden 03 Diversify product range 04 Undertake strategic acquisitions 02 Improve AustCo operations

Page 16

FY2020 Outlook

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We see continued strong growth in fodder markets with demand from key export customers growing along with leveraging facility expansion at AustCo

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|||||
|---|---|---|---|
|Division|Focus Areas|Commentary|
|•|We are continuing to see strong product demand for oaten hay as|
|•|
|Respond to strong demand|
|drought conditions are experienced throughout much of eastern|
|conditions|Australia|
|•|•|We anticipate strong prices with Australian east-coast demand|
|Raywood capacity|
|~$440 MT|
|expansion|•|
|Demand from key export markets remains strong from dairy growth|
|•|in Asian markets|
|Energy efficiency|
|•|Storage capacity at Raywood remains a key bottleneck and Phase|
|•|
|Assess Horsham site as|
|2 and Phase 3 of Raywood will alleviate this with shed construction|
|•|
|required|Installation of solar panels at Raywood and Epsom sites will lower|
|operating costs|
|•|FY2020 will be first full year of ownership and operation following|
|integration with Wingara business|
|•|Leverage capacity|•|Already achieved revenue uplift at $12.3m in FY2019 – up from|
|historical operating revenue of $10.0m - $11.0m p.a.|
|expansion|
|•|Will focus on leveraging improved capacity in both blast freezing|
|•|
|Capital allocation|and cold storage to respond to increased export market demand for|
|•|meat products|
|Improve energy efficiency|•|We will continuously assess the energy mix at AustCo to ensure|
|•|
|Assess site expansion|cost and environmental efficiency|

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• Laverton site is located near key export gateway at the Port of Melbourne and subsequently we continue to assess highest and best use of excess land capacity

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Appendix
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Page 18

Key People

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The board and senior management team have solidified a proven track record to date having successfully executed Wingara AG’s strategic expansion and diversification plan to date

Directors & Key Management

Gavin Xing – Executive Chairman

• Over 17 years’ experience in investment banking, infrastructure projects development, commodities and financing

• Previously held roles in sales, origination and structuring with the Global Marketing Division at Deutsche Bank AG Asia

• Significant experience and relationships with Asian trading customers

Mark Hardgrave – Non-Executive Director

• Over 35 years’ experience having held previous positions in corporate finance, funds management and various C-suite roles

• Currently Non-Executive Director of Nimble Finance Ltd and Director of Reclink Australia

• Former co-founder and joint Managing Director of M&A Partners

Zane Banson – Executive Director & CFO

• Experienced corporate advisor who joined Wingara in 2015

• Previously worked at KPMG and has advised a wide range of emerging, growth-stage listed companies

• Chartered Accountant specialising in board advisory, corporate governance and accounting for small cap listed entities

• Roger Prezens – Director Investor Relations and Investment

• Over 20 years experience in funds management and financial markets.

• Previously worked at UBS in Institutional BDM and also at Morgan Stanley as Executive Director, Institutional BDM covering Domestic and Global Equities, Infrastructure, Emerging Markets and Credit.

Page 19

Wingara – A history of sustainable growth

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September 2017

JC Tanloden throughput reached 30,000MT p.a. Executed contract to acquire the land at Epsom facility

February 2016 acquire the land at September / October 2018 IPO on the ASX raising $4.9m to fund Epsom facility Complete 1[[st]] Epsom production expansion (via Raywood Processing and Storage Facility in reverse takeover of Biron Apparel Ltd) 8 months with throughput capacity of 35,000 MT p.a. (1[[st]] May 2017 March 2018 Acquired 20Ha property in Dooen, 1985 Victoria to develop processing and Raised $6.74 million via private distribution facility. placement to acquire Austco Polar JC Tanloden’s was established as an (9km north-west of Horsham) Cold Storage (“APCS”) exporter of oaten hay 1985 2015 2016 2017 2018 2019 July 2017 April 2018 October 2016 Acquired 30Ha site in Taken over APCS operation Raywood, Victoria (20km JC Tanloden throughput reached 25,000MT p.a. north of the Epsom facility in Bendigo)

September / October 2018

Complete 1[[st]] Phase development of Raywood Processing and Storage Facility in 8 months with throughput capacity of 35,000 MT p.a. (1[[st]] phase) ,

February 2015

January 2019

December 2017

Acquired JC Tanloden’s operating assets at Epsom facility located in Bendigo, Victoria (throughput 16,000MT p.a.)

Raywood facility receives China export accreditation

Secured permit to commence the development of its Raywood site

Page 20

Wingara Vision

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Wingara is building out an integrated platform of mid-stream agricultural assets focussed on unlocking value in the global protein supply chain

• Maintain strong relationships with our grower base to access high quality agricultural produce at the farm gate

• Supporting our primary producers is vital; we support through the agricultural 1 Supplier First • cycle Oaten hay is our initial contact with primary producers; provides opportunity to further leverage the grower relationship for other products • We see significant unrealised value in mid-market agricultural assets • We seek to apply our financial capabilities, market access, engineering and energy Unlock Asset know-how along with our strong Asian customer relationships to unlock value in 2 Value processing, marketing and trading assets over time • As we build out our asset base we will leverage further efficiencies through scale and cross-sell • Wingara maintains long-term relationships with key trading houses in China, Korea, Japan and Taiwan along with domestic demand Export Focused • We are attuned to increasing demand global for a broad range of agricultural produce from our customer base and are able to quickly respond 3 • Wingara will seek to actively broaden our product base through organic and inorganic opportunities to best serve international and domestic buyers • We maintain strict risk management overlays for trading fodder produce, calling on Risk significant experience in agricultural operations and soft commodity trading • We understand the regulatory environment for dealing with south-east Asian Management export markets and our facilities are export accredited with all relevant 4 quarantine approvals & Governance

• Supporting our primary producers is vital; we support through the agricultural cycle

• Oaten hay is our initial contact with primary producers; provides opportunity to further leverage the grower relationship for other products

• We seek to apply our financial capabilities, market access, engineering and energy know-how along with our strong Asian customer relationships to unlock value in processing, marketing and trading assets over time

• Wingara maintains long-term relationships with key trading houses in China, Korea, Japan and Taiwan along with domestic demand

• We are attuned to increasing demand global for a broad range of agricultural produce from our customer base and are able to quickly respond

• Wingara will seek to actively broaden our product base through organic and inorganic opportunities to best serve international and domestic buyers

• Maintain a long track record of safely and efficiently servicing key export markets is critical to exporting product into south-east Asian destinations

Page 21

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

• Demand from China has accelerated in the past 5 years and cannot be met. The market demand is 1.5 – 2.0m MT*

Growth drivers from overseas markets

Total Australian hay exports

(1990–2019 YTD)

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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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*WNR management estimated based on Japan average consumption

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1,400,000
1,200,000
1,000,000
800,000
600,000
400,000
200,000
0
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*2019 YTD volume to 28 February 2019 Source: Australia Fodder Industry Association (‘AFIA’) – Export statistics

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Raywood Facility

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Start of the art storage and processing facility that will provide the foundations for Wingara’s next phase of high growth in Oaten hay and green product varieties.

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AustCo Polar Facility

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Substantial blast freezing and cold storage facilities strategically located close to Port of Melbourne for easy access to export markets. Recent energy saving initiatives will drive further operational gains

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