Investor Presentaiton

#3 International growth projects underway African Blue has been a highly successful investment for Costa African Blue - Morocco JV case study ☐ ☐ ☐ ☐ ☐ ☐ ☐ African Blue was formed in Morocco in 2007, with the intention to plant Costa blueberry varieties in a similar climate to Corindi in NSW, for supply into the European market JV has four shareholders; Costa is the largest (49%) Costa receives royalties for the use of its varieties and a fee for agronomic support At the end of FY2015, African Blue has 182 hectares of protected blueberry tunnel production at its five farms, including 24 hectares planted during FY2015. A further 90 hectares is expected to be planted by FY2017, with the land for this expansion already secured Third party growers are also being licensed to grow Costa varieties (approximately 51 hectares) which are marketed by the JV All of the African Blue JV 's growth initiatives are expected to be funded on the African Blue balance sheet out of operating cash flow FY2015 operating EBITDA in line with prospectus forecast although NPAT down $0.3m due to higher depreciation and tax charges. costa fresh is our passion Established plantings at the African Blue JV in Morocco New plantings at the African Blue JV in Morocco 18

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