1. www.acornequity.com PARTNERING WITH MANAGEMENT TEAMS TO CREATE VALUE

2. www.acornequity.com ACORN PRIVATE EQUITY Founded in 2009 Specialise in SME private equity investing & advisory Passionate about making a difference Acorn Fund 1 fully invested with IRR of 28% Acorn SME Fund 2 KEY EXECUTIVES Pierre Malan Eugene Jansen Carl Neethling Gerhard Visagie THE TEAM 8 individuals > 45 years experience Proven track record Complementary blend of experience & expertise SME specialists Strong experience in agriculture sector WHO WE ARE – IMPACT INVESTORS

3. www.acornequity.com WHAT WE DO Private Equity Investing Focused on : SME investing In family-owned/ managed businesses In defensive sectors (incl. agriculture) Corporate Advisory Advisory services Deal structuring & execution

4. www.acornequity.com PRIVATE EQUITY INVESTING ACORN SME FUND 2 Geographic Focus Focus on RSA companies with SSA growth ambitions & opportunities Focus on Investments that will benefit from the African Growth Story Preference: Defensive sectors (agriculture & food, water, education, healthcare ) Target Established & Profitable SMEs Preference: Owner-managed and family-owned Minimum Profit of R10m Stage Focus on growth & expansion capital opportunities Ability to make impact Growth extracted over 5 to 7 years Minority Interests Focus on acquiring minority stakes & support management to grow business Maximum equity investment of R100 m INVESTMENT PHILOSOPHY

5. www.acornequity.com ENABLE SMEs TO ACHIEVE THEIR FULL POTENTIAL Focus on key growth drivers Appoint Acorn shadow manager for CEO. He will assist CEO for first 6 months Drive the strategic plan through active participation ACORN TEAM ACTIVE INVOLVEMENT Strategic repositioning Growth strategies Efficiency and financial restructuring Financial oversight Superior corporate governance & risk management ESG compliance Provide support like accounting and legal services PRIVATE EQUITY INVESTING Partnering with Management

6. www.acornequity.com CORPORATE ADVISORY Strong networks in agriculture Vast experience in agriculture deal structure & execution Lead advisor in R920m Overberg Agri/ MKB merger

7. www.acornequity.com WHY PARTNER WITH ACORN? Strong background in: Agriculture SMEs Family businesses Proven track record of growing investee companies Acorn’s solid values

8. www.acornequity.com QUESTIONS?

9. THANK YOU