Integrated reporting Sophie Heighway Nia Evans - Sanford Alison Howard - / #ProjectNZ

Three Questions: Where have we come from? Who's reporting and why? Where are we / #ProjectNZ

Where have we come from? Data > M ateriality > Value More story telling From dumping to engaging

@sustbusiness / #ProjectNZ Who's reporting and why?

Where are we heading? Concise and focussed Stakeholder participation Story telling Technology / #ProjectNZ

OUR RECIPE FOR BEAUTIFUL -NEW ZEALAND – / #ProjectNZ Sanford Limited Nia Evans 03 September 2015

@sustbusiness / #ProjectNZ We are a food company – serving beautiful New Zealand seafood to thousands around the world everyday

@sustbusiness / #ProjectNZ Financial Non-financial Our First Integrated Report

@sustbusiness / #ProjectNZ 14 years of reporting (at the time, 1 for me…) Big Shoes to Fill… New standards: Global Reporting Initiative (GRI) G4 Integrated Reporting Our Reporting Story

@sustbusiness / #ProjectNZ

Stage 1 – Sharing the Vision Leading the wayA tougher crowd

@sustbusiness / #ProjectNZ Stage 2 – What is our desired state? Current State Desired State

@sustbusiness / #ProjectNZ Stage 3 - Identifying our Capitals Capitals Financial capital Shareholder investments through Economic performance Manufactured capital Efficient Farms, Vessels, Factories and Freight Intellectual capital Quota Management, R&D Capability Human capital Strong Governance, Management structure, Our people Social and relationship capital Consumer relations, Market access Natural capital Healthy ecosystems, sustainable raw materials

@sustbusiness / #ProjectNZ Stage 4 – Our process of creating value

@sustbusiness / #ProjectNZ The Challenge 15 Reference material: Framework – The materiality determination process 3.18 – Page 18 BUSINESS MODEL VALUE CREATION THE STORY INTEGRATED REPORTING RISK MANAGEMENT STAKEHOLDERENGAGEMENT

@sustbusiness / #ProjectNZ Stage 5 – Identifying the report structure Option 1) STRATEGY DRIVENOption 2) ENABLER DRIVEN 1.Strategy 1 2.What is ‘material’ that affects the strategy: 3.Which enablers support this element of our strategy 1.Enabler 1 2.What is ‘material’ that affects the enabler: 3.How does the results affect our strategic goal? Problem: All enablers linked to the strategy All material topics had a potential risk to the strategy Problem: Visually showing the connection to the strategy Some material topics cross various enablers

@sustbusiness / #ProjectNZ Stage 6: The outcome

@sustbusiness / #ProjectNZ With a few simple steps Step 1: Staff Engagement, who needs to be involved Step 2: Our current state to our desired state (1 report to 2) Step 3: Identifying our Capitals Step 4: Identifying our value creation process using our business model Step 5: Identify the report structure Step 6: Tell the story Step 7: Assurance

@sustbusiness / #ProjectNZ “Faith is taking the first step even when you don't see the whole staircase” - Martin Luther King, Jr. Taking the leap of faith “If the fire is in your belly, you can achieve anything” – Volker Kuntzsch, Sanford CEO