Livestock Investment Opportunities Global AgInvesting Conference Singapore 24 th - 25 th September 2014 David Sackett Managing Director, Growth Farms

Meat and milk are growing in both value and market share Source: ABARES, 2012

Meat and dairy offer the biggest opportunities……. Source: ABARES

White meat dominates volume but red meat commands a premium Source: FAOSTAT, 2013

Key players in global red meat exports Source: USDA 2013Source: FAOSTAT, 2011

Increasing demand from China is under way…..

Agriculture contributes to greenhouse gases Source: IPCC, 2007

Greenhouse gas per kg of protein Source: Gerber, 2013

Grain or grass to grow beef? Source: MLA, 2013

Must be a low cost producer

Key issues to consider Greenhouse gas emission Welfare Grain or grass to produce meat? Animal identification (electronic) Beef compulsory in Aust Sheep optional

Lamb has seen a large price increase

Good management is essential Source: AgInsights 2013

Opportunities Sheep meat offers some great advantages Countries with competitive advantages Beef in Sth America, Australia Sheep in Aust, NZ Premium product producers Low – moderate correlation with grains Aggregation of subscale farms Buy and manage well

Introduction to Growth Farms Australia Specialist Managers in Australian Agriculture Sep 2014

Established in 1999 with an appropriate blend of farm management, commercial, legal and accounting experience Has over $380m under management, over $200m since 2008 Specialises in portfolio strategy, acquisition and management of Australian broad-acre agricultural investments Works with a diverse client base including high net worth individuals, corporate and institutional investors from Australia, Asia and Europe Has recently had first close of a Fund with a UK insurance company as the seed investor Has a proven track record of value acquisitions and top quartile operating returns Employs highly qualified operational management who are all experienced agricultural specialists covering a wide range of sectors Growth Farms is an established agricultural asset management company:

Assets under management are substantial and across diverse agricultural sectors: $380m and a total area of 105,000 hectares - 150,000 sheep - 14,000 cattle - 21,000 ha winter crop -cereal, oilseed, other - 4,000 ha summer crop -cotton, sugar, other

Thirty farms under management, most in the higher rainfall areas of eastern Australia: Climate Zones Source: Growth Farms Australia, Australian Bureau of Meteorology -

Growth Farms operating yield track record (EBITDA as % asset value)

For further information: David Sackett Managing Director +61 (0)