Half Year Results Announcement

PGG Wrightson announces solid first half performance and
increase in full year net profit after tax forecast.

PGG Wrightson Ltd* (PGW) has announced today that at the half-year it remains on track to deliver its full-
year result in line with earlier guidance.

For the six-months ended 31 December 2016, PGW achieved Operating EBTIDA** of $26.0 million, down $5.0
million from the strong result in the corresponding period last year. Net profit after tax for the period was $16.0
million, broadly in line with the corresponding period last year.




PGW Chairman Alan Lai said, “The Board and I are pleased PGW is meeting its budgets through these
challenging trading conditions. As we foreshadowed, the lower confidence seen in the dairy sector through
calendar 2015 and the first half of 2016 has impacted earnings. In that context this is a very pleasing result
for the period given the market conditions.”

PGW’s Board declared an interim dividend of 1.75 cents per share, which will be paid to shareholders
registered at the record date of 10 March 2017. The dividend will be fully imputed and paid to shareholders
on 4 April 2017.

PGW Chief Executive Mark Dewdney said, “We expected the tougher trading environment would mean a dip
in earnings for the first half of the year. While there are some key trading months still ahead of us we remain
on track to deliver a full year Operating EBITDA in the $62 million to $68 million range as signalled in October
last year. In addition, we now expect full year net profit after tax to be higher than last year - in the range of
$46 million to $51 million. This increase is due to several non-operating gains we expect to realise in the
second half of the year, such as gains on property we plan to sell.

“We continue to operate well in New Zealand and across our other markets. This first half result was affected
by the continued caution of dairy farm spending across the New Zealand market - this caution has slowed
irrigation development which impacts our Water business. However we look toward the second half of the
financial year, which is traditionally the strongest trading period for us, with some optimism that we will see the
impact of improving sentiment in the dairy sector. In particular, the early signals are positive for re-grassing
and seed demand to pick up in the autumn.”

Commenting on the results, Mark Dewdney explained, “Low dairy prices, reduced production of both dairy and
red meat, tough wool trading conditions, and a wet start to spring led to cautious spending from New Zealand’s
farming customers during the six months to 31 December 2016. These trading conditions led to a 2% decline
in revenue. Despite this, net profit after tax remained broadly unchanged against the prior corresponding
period.




$
26.0 M
$
16.0 M
1.75 ¢
¢¢¢¢¢¢¢
“...the really pleasing thing is that PGW has continued to perform
consistently through these demanding conditions. It is a credit to our people
and a positive indicator that reflects well on the value that we deliver to our
customers, whatever the market conditions.” MARK DEWDNEY, CEO

“We benefit from our diversified business portfolio. This half year our Water and Wool businesses had softer
earnings versus the corresponding period last year. Our New Zealand Seeds business was also back slightly,
but our other business units all performed at or better than the previous corresponding period.

“Retail increased Operating EBITDA by $2.0 million compared to the previous year. Margins also showed an
increase year-on-year. Despite some challenges with weather and competitor activity all three business areas:
Rural Supplies, Fruitfed and Agritrade contributed to the strong Retail result.

“Our Livestock business maintained last year’s Operating EBITDA for the first half despite tallies for all stock
and sales channels being down 1% on last year. This drop in activity is in line with the year-on-year drop in
national lamb and mutton kill.

“Seed and Grain’s Operating EBITDA was back on the same period last year by $1.7 million. While the South
American business had a promising start to the year and the Australian business delivered a steady
performance for the first six months, this was offset by a number of factors in the New Zealand market,
including a more cautious spend from our dairy and dairy-related clients.

“Our continued focus on cash flow means our balance sheet remains strong, with lower levels of working
capital and lower net interest bearing debt of $156.2m compared with our net interest bearing debt at
December 2015 of $167.4m.”

Looking ahead, Mark Dewdney said, “PGW is maintaining its 2017 full year Operating EBITDA guidance.
Overall, confidence in commodity markets is generally higher compared with recent years. As referenced
earlier, dairy prices have staged a welcome recovery over the last five months. Beef prices show some signs
of stabilising at good levels – down on the peaks of 2014 and 2015, admittedly, but still good by historic
standards. Sheep meat prices also seem to be stabilising. Horticulture continues to go from strength to
strength – as recently as December the Ministry for Primary Industries forecast that horticulture will maintain
around 5% export revenue growth per annum into the foreseeable future. We are also seeing encouraging
signs of recovery in Uruguay as they look to put the floods of 2016 behind them.

“On the other side of the ledger, international wool prices have fallen approximately 50% over the past six
months, with the consequence that we are seeing a reduction in bales sold.

“Overall, we expect trading conditions will improve for us for the remainder of this financial year. The really
pleasing thing is that PGW has continued to perform consistently through the demanding conditions. It is a
credit to our people and a positive indicator that reflects well on the value that we deliver to our customers,
whatever the market conditions. It’s been a while since we’ve felt the wind at our backs, and the early
indications for our 2018 financial year are looking encouraging. Our 2016 earnings were outstanding – I’m
confident that 2018 can be even better.”


Further information:
Mark Dewdney
Chief Executive Officer
027 248 3151

*All references to PGG Wrightson Limited or the Group refer to the Company, its subsidiaries and interests in associates and
jointly controlled entities.
**Disclosure Statement: Non-GAAP profit reporting measures:
PGW’s standard profit measure prepared under New Zealand GAAP is “Net profit after tax”. PGW has used non-GAAP profit
measures when discussing financial performance in this document. The directors and management believe that these measures
provide useful information as they are used internally to evaluate performance of business units, to establish operational goals and
to allocate resources. They also represent some of the performance measures required by PGW’s debt providers. For a more
comprehensive discussion on the use of non-GAAP profit measures, please refer to the policy “Non-GAAP Accounting Information”
available on our website (www.pggwrightson.co.nz).
Non-GAAP profit measures are not prepared in accordance with NZ IFRS and are not uniformly defined, therefore the non-GAAP
profit measures reported in this document may not be comparable with those that other companies report and should not be viewed
in isolation or considered as a substitute for measures reported by PGW in accordance with NZ IFRS.

PGW’s definition of non-GAAP profit measures used in this document:
Operating EBITDA: Earnings before net interest and finance costs, income tax, depreciation, amortisation, the results from
discontinued operations, fair value adjustments and non-operating items.

GAAP to non-GAAP reconciliation:
($m) Dec
2016
Jun
2016
Dec
2015
Net Profit after Tax (GAAP) 16.0 39.6 16.1
Add (Profit)/loss from discontinued operations (net of income
tax)
(0.0) 0.2 (0.1)
Add Income tax expense 5.0 8.8 6.6
Add Net interest and finance costs 1.5 10.5 3.5
Add Depreciation and amortisation expense 5.2 9.2 4.1
Add Fair value adjustments expense / (income) 0.3 0.2 (0.4)
Add Non-operating items expense / (income) (1.9) 1.7 1.2
Operating EBITDA 26.0 70.2 30.9

---

PGG WRIGHTSON LIMITED HALF YEAR REPORT DECEMBER 2016
1
Key Financial Disclosures
FOR THE SIX MONTHS ENDED 31 DECEMBER 2016
The financial statements contained on pages 2– 21 have been approved by
the Board of Directors on 20 February 2017.
Alan Lai Bruce Irvine
Chairman Director and Audit Committee Chairman

PGG WRIGHTSON LIMITED HALF YEAR REPORT DECEMBER 2016
2
KEY FINANCIAL DISCLOSURES
UNAUDITED AUDITED UNAUDITED
DEC 2016 JUN 2016 DEC 2015
NOTE $000 $000 $000
Continuing operations
Operating revenue 607,771 1,181,624 623,066
Cost of sales (450,308) (854,871) (461,669)
Gross profit 157,463 326,753 161,397
Other income 30 725 388
Employee benefits expense (79,969) (156,148) (79,175)
Research and development (2,650) (4,515) (2,850)
Other operating expenses (49,215) (96,390) (48,579)
Equity accounted earnings of investees 323 (244) (245)
(131,481) (256,572) (130,461)
Operating EBITDA 25,982 70,181 30,936
Non-operating items 1,932 (1,684) (1,157)
Fair value adjustments 1 (283) (232) 400
Depreciation and amortisation expense (5,188) (9,170) (4,111)
EBIT 22,443 59,095 26,068
Net interest and finance costs 2 (1,511) (10,474) (3,520)
Profit from continuing operations before income taxes 20,932 48,621 22,548
Income tax expense (4,955) (8,832) (6,558)
Profit from continuing operations 15,977 39,789 15,990
Discontinued operations
Profit from discontinued operations (net of income taxes) 12 (211) 76
Net profit after tax 15,989 39,578 16,066
Net profit after tax attributable to:
Shareholders of the Company 15,998 38,823 15,947
Non-controlling interest (9) 755 119
Net profit after tax 15,989 39,578 16,066
Earnings per share
Basic earnings per share (New Zealand Dollars) 3 0.021 0.052 0.021
Continuing operations
Basic earnings per share (New Zealand Dollars) 3 0.021 0.053 0.021
The accompanying notes form an integral part of these financial statements.
PGG WRIGHTSON LIMITED
INTERIM STATEMENT OF PROFIT OR LOSS
For the six months ended 31 December 2016

PGG WRIGHTSON LIMITED HALF YEAR REPORT DECEMBER 2016
3
PGG WRIGHTSON LIMITED
INTERIM STATEMENT OF OTHER COMPREHENSIVE INCOME
For the six months ended 31 December 2016
UNAUDITED AUDITED UNAUDITED
DEC 2016 JUN 2016 DEC 2015
$000 $000 $000
Net profit after tax 15,989 39,578 16,066
Other comprehensive income/(loss) for the period
Items that will never be reclassified to profit or loss
Changes in fair value of equity instruments 504 5,433 4,856
Remeasurements of defined benefit liability 3,343 (4,831) 1,554
Deferred tax on remeasurements and change of defined benefit liability (2,564) 1,353 (435)
1,283 1,955 5,975
Items that are or may be reclassified to profit or loss
Foreign currency translation differences for foreign operations 942 (8,513) (3,924)
Effective portion of changes in fair value of cash flow hedges (2,039) 3,888 2,811
Deferred tax on changes in fair value of cash flow hedges 571 (1,088) (787)
(526) (5,713) (1,900)
Other comprehensive income/(loss) for the period, net of income tax 757 (3,758) 4,075
Total comprehensive income for the period 16,746 35,820 20,141
Total comprehensive income/(loss) attributable to:
Shareholders of the Company 16,773 35,098 20,055
Non-controlling interest (27) 722 86
Total comprehensive income for the period 16,746 35,820 20,141
The accompanying notes form an integral part of these financial statements.

PGG WRIGHTSON LIMITED HALF YEAR REPORT DECEMBER 2016
4
PGG WRIGHTSON LIMITED HALF YEAR REPORT DECEMBER 2016
5
KEY FINANCIAL DISCLOSURES
(a) Operating Segments
The Group has two primary operating divisions: Rural Services and Seed & Grain. Rural Services operates within New Zealand. Seed & Grain
primarily operates within New Zealand with additional operations in Australia and South America.
Rural Services is further separated into three reportable segments, as described below, which are that segment’s strategic business units. The
strategic business units offer different products and services, and are managed separately because they require different skills, technology and
marketing strategies. Within each segment, further business unit analysis may be provided to management where there are significant differences
in the nature of activities. The Chief Executive Officer or Chairman of the Board reviews internal management reports on each strategic business
unit on at least a monthly basis.
– Retail. Includes the Rural Supplies and Fruitfed retail operations, AgNZ (Consulting), Agritrade and ancillary sales support, supply chain and
marketing functions.
– Livestock. Includes rural Livestock trading activities and Export Livestock.
– Other Rural Services. Includes Insurance, Real Estate, Wool, PGG Wrightson Water, AgNZ (Training), Regional Admin, Finance Commission
and other related activities. PGG Wrightson Water will be included as part of the Retail segment for the 30 June 2017 financial statements.
(b) Operating Segment Information
TOTA L RURAL SERVICES SEED & GRAIN TOTAL OPERATING SEGMENTS OTHER TOTAL
UNAUDITED AUDITED UNAUDITED UNAUDITED AUDITED UNAUDITED UNAUDITED AUDITED UNAUDITED UNAUDITED AUDITED UNAUDITED UNAUDITED AUDITED UNAUDITED
DEC 2016 JUN 2016 DEC 2015 DEC 2016 JUN 2016 DEC 2015 DEC 2016 JUN 2016 DEC 2015 DEC 2016 JUN 2016 DEC 2015 DEC 2016 JUN 2016 DEC 2015
$000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000
Total segment revenue 436,848 771,647 449,815 203,521 453,168 201,419 640,369 1,224,815 651,234 3,821 8,729 5,761 644,190 1,233,544 656,995
Intersegment revenue – – – (36,419) (51,920) (33,929) (36,419) (51,920) (33,929) – – – (36,419) (51,920) (33,929)
Total external operating revenues 436,848 771,647 449,815 167,102 401,248 167,490 603,950 1,172,895 617,305 3,821 8,729 5,761 607,771 1,181,624 623,066
Operating EBITDA 29,376 52,979 32,770 9,982 44,621 11,697 39,358 97,600 44,467 (13,376) (27,419) (13,531) 25,982 70,181 30,936
Non–operating items 829 (3,147) (3,248) (118) (418) (397) 711 (3,565) (3,645) 1,221 1,881 2,488 1,932 (1,684) (1,157)
Fair value adjustments 17 458 400 (300) (19) – (283) 439 400 – (671) – (283) (232) 400
Depreciation and amortisation expense (1,452) (2,771) (1,390) (2,658) (4,397) (1,735) (4,110) (7,168) (3,125) (1,078) (2,002) (986) (5,188) (9,170) (4,111)
EBIT 28,770 47,519 28,532 6,906 39,787 9,565 35,676 87,306 38,097 (13,233) (28,211) (12,029) 22,443 59,095 26,068
Net interest and finance costs 1,726 (1,699) (1,189) (1,437) (3,845) (218) 289 (5,544) (1,407) (1,800) (4,930) (2,113) (1,511) (10,474) (3,520)
Profit/(loss) from continuing operations
before income taxes 30,496 45,820 27,343 5,469 35,942 9,347 35,965 81,762 36,690 (15,033) (33,141) (14,142) 20,932 48,621 22,548
Income tax (expense) / income (8,868) (12,982) (7,508) (2,831) (10,262) (5,649) (11,699) (23,244) (13,157) 6,744 14,412 6,599 (4,955) (8,832) (6,558)
Profit/(loss) from continuing operations 21,628 32,838 19,835 2,638 25,680 3,698 24,266 58,518 23,533 (8,289) (18,729) (7,543) 15,977 39,789 15,990
Discontinued operations – – – – – – – – – 12 (211) 76 12 (211) 76
Net profit after tax 21,628 32,838 19,835 2,638 25,680 3,698 24,266 58,518 23,533 (8,277) (18,940) (7,467) 15,989 39,578 16,066
Segment assets 347,081 252,629 341,908 338,758 360,602 322,448 670,892 613,231 664,356 32,964 50,372 71,177 718,803 663,603 735,533
Investment in equity accounted investees – – – 21,107 17,890 16,947 21,107 17,890 16,947 78 110 91 21,185 18,000 17,038
Assets held for sale 352 819 – 5,497 – – 5,849 819 – 2,311 4,794 1,557 8,160 5,613 1,557
Total segment assets 347,433 253,448 341,908 365,362 378,492 339,395 697,848 631,940 681,303 35,353 55,276 72,825 748,148 687,216 754,128
Segment liabilities (176,807) (133,193) (184,003) (160,073) (183,293) (154,775) (336,880) (316,486) (338,778) (135,383) (96,431) (143,388) (472,263) (412,917) (482,166)
The accompanying notes form an integral part of these financial statements.
PGG WRIGHTSON LIMITED
INTERIM SEGMENT REPORT
For the six months ended / as at 31 December 2016
Seed & Grain. Includes Australasia Seed (New Zealand and Australian manufacturing and distribution of forage seed and turf ), Grain (sale
of cereal seed and grain trading), South America (various related activities in the developing seeds markets including the sale of pasture and
crop seed and farm inputs, together with operations in the areas of livestock, real estate and irrigation), and other Seed & Grain (research
and development, international, production and corporate seeds).
Other. Other non-segmented amounts relate to certain Corporate activities including Finance, Treasury, HR and other support services
including corporate property services and include adjustments for discontinued operations (PGW Rural Capital Limited) and consolidation
adjustments.
The profit/(loss) for each business unit combines to form total profit/(loss) for the Rural Services and Seed & Grain segments. Certain other
revenues and expenses are held at the Corporate level for the Corporate functions noted above.
Assets allocated to each business unit combine to form total assets for the Rural Services and Seed & Grain business segments. Certain other
assets are held at a Corporate level including those for the Corporate functions noted above.

PGG WRIGHTSON LIMITED HALF YEAR REPORT DECEMBER 2016
6
PGG WRIGHTSON LIMITED HALF YEAR REPORT DECEMBER 2016
7
KEY FINANCIAL DISCLOSURES
PGG WRIGHTSON LIMITED
INTERIM SEGMENT REPORT (CONTINUED)
For the six months ended / as at 31 December 2016
(b) Operating Segment Information continued
RURAL SERVICES RURAL SERVICES
RETAIL LIVESTOCK OTHER RURAL SERVICES TOTAL RURAL SERVICES
UNAUDITED AUDITED UNAUDITED UNAUDITED AUDITED UNAUDITED UNAUDITED AUDITED UNAUDITED UNAUDITED AUDITED UNAUDITED
DEC 2016 JUN 2016 DEC 2015 DEC 2016 JUN 2016 DEC 2015 DEC 2016 JUN 2016 DEC 2015 DEC 2016 JUN 2016 DEC 2015
$000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000
Total segment revenue 318,904 479,772 306,631 27,429 73,111 30,265 90,515 218,764 112,919 436,848 771,647 449,815
Intersegment revenue – – – – – – – – – – – –
Total external operating revenues 318,904 479,772 306,631 27,429 73,111 30,265 90,515 218,764 112,919 436,848 771,647 449,815
Operating EBITDA 26,843 29,154 24,799 2,565 15,234 2,592 (32) 8,591 5,379 29,376 52,979 32,770
Non–operating items 203 390 12 746 (3,177) (3,243) (120) (360) (17) 829 (3,147) (3,248)
Fair value adjustments – – – 17 458 400 – – – 17 458 400
Depreciation and amortisation (744) (1,239) (617) (330) (635) (305) (378) (897) (468) (1,452) (2,771) (1,390)
EBIT 26,302 28,305 24,194 2,998 11,880 (556) (530) 7,334 4,894 28,770 47,519 28,532
Net interest and finance costs 380 (660) (403) (114) (269) (103) 1,460 (770) (683) 1,726 (1,699) (1,189)
Profit/(loss) from continuing operations before income taxes 26,682 27,645 23,791 2,884 11,611 (659) 930 6,564 4,211 30,496 45,820 27,343
Income tax (expense) / income (7,686) (7,892) (6,662) (930) (3,251) 337 (252) (1,839) (1,183) (8,868) (12,982) (7,508)
Profit/(loss) from continuing operations 18,996 19,753 17,129 1,954 8,360 (322) 678 4,725 3,028 21,628 32,838 19,835
Discontinued operations – – – – – – – – – – – –
Net profit after tax 18,996 19,753 17,129 1,954 8,360 (322) 678 4,725 3,028 21,628 32,838 19,835
Segment assets 213,736 101,630 211,018 73,365 78,816 58,876 59,980 72,183 72,014 347,081 252,629 341,908
Investment in equity accounted investees – – – – – – – – – – – –
Assets held for sale 264 763 – 88 56 – – – – 352 819 –
Total segment assets 214,000 102,393 211,018 73,453 78,872 58,876 59,980 72,183 72,014 347,433 253,448 341,908
Segment liabilities (131,726) (51,854) (130,444) (27,778) (49,656) (24,760) (17,303) (31,683) (28,799) (176,807) (133,193) (184,003)
The accompanying notes form an integral part of these financial statements.

PGG WRIGHTSON LIMITED HALF YEAR REPORT DECEMBER 2016
8
KEY FINANCIAL DISCLOSURES
PGG WRIGHTSON LIMITED
INTERIM STATEMENT OF CASH FLOWS
For the six months ended 31 December 2016
UNAUDITED AUDITED UNAUDITED
DEC 2016 JUN 2016 DEC 2015
NOTE $000 $000 $000
Cash flows from operating activities
Cash was provided from:
Receipts from customers 566,771 1,242,386 567,162
Dividends received 1 6 2
Interest received 1,282 2,038 919
568,054 1,244,430 568,083
Cash was applied to:
Payments to suppliers and employees (567,335) (1,188,736) (566,114)
Contributions to defined benefit plans (6,030) – –
Interest paid (3,417) (6,579) (3,723)
Income tax paid (7,465) (13,903) (10,420)
(584,247) (1,209,218) (580,257)
Net cash flow from operating activities (16,193) 35,212 (12,174)
Cash flows from investing activities
Cash was provided from:
Proceeds from sale of property, plant and equipment and assets held for sale 8,673 19,898 12,758
Net decrease in finance receivables 22 1,079 –
Net proceeds from sale of investments 4,424 9,692 159
13,119 30,669 12,917
Cash was applied to:
Purchase of property, plant and equipment (6,950) (30,750) (22,454)
Purchase of intangibles (933) (2,176) (722)
Net increase in finance receivables – – (26)
Net cash paid for purchase of investments (2,975) (10,895) (9,533)
(10,858) (43,821) (32,735)
Net cash flow from investing activities 2,261 (13,152) (19,818)
Cash flows from financing activities
Cash was provided from:
Increase in external borrowings and bank overdraft 32,144 7,035 57,115
32,144 7,035 57,115
Cash was applied to:
Dividends paid to shareholders (15,252) (28,602) (15,260)
Dividends paid to minority interests (289) (205) (287)
Repayment of loans to related parties (163) – (10)
(15,704) (28,807) (15,557)
Net cash flow from financing activities 16,440 (21,772) 41,558
Net increase/(decrease) in cash held 2,508 288 9,566
Opening cash 7,561 7,273 7,273
Cash and cash equivalents 4 10,069 7,561 16,839
The accompanying notes form an integral part of these financial statements.

PGG WRIGHTSON LIMITED HALF YEAR REPORT DECEMBER 2016
9
PGG WRIGHTSON LIMITED
RECONCILIATION OF PROFIT AFTER TAX
WITH NET CASH FLOW FROM OPERATING ACTIVITIES
For the six months ended 31 December 2016
UNAUDITED AUDITED UNAUDITED
DEC 2016 JUN 2016 DEC 2015
$000 $000 $000
Profit after taxation 15,989 39,578 16,066
Add/(deduct) non–cash/non operating items:
Depreciation, amortisation and impairment 5,188 9,170 4,111
Fair value adjustments 283 232 (400)
Net (profit)/loss on sale of assets/investments (1,636) (5,321) (2,819)
Bad debts written off (net) 494 1,483 505
Change in deferred taxation (8,453) (2,001) 111
Earnings of equity accounted investees (323) 244 245
Discontinued operations (12) 211 (76)
Effect of foreign exchange movements (307) (6,131) (2,520)
Other non–cash/non–operating items (3,244) 10,246 4,785
7,979 47,711 20,008
Add/(deduct) movement in working capital items:
Movement in working capital due to sale/purchase of businesses (3,433) (583) (541)
Change in inventories and biological assets 29,739 3,990 37,855
Change in accounts receivable and prepayments (83,702) (15,290) (100,292)
Change in trade creditors, provisions and accruals 27,337 10,620 36,821
Change in income tax payable/receivable 8,433 (2,604) (2,203)
Change in other current assets/liabilities (2,546) (8,632) (3,822)
(24,172) (12,499) (32,182)
Net cash flow from operating activities (16,193) 35,212 (12,174)
The accompanying notes form an integral part of these financial statements.

PGG WRIGHTSON LIMITED HALF YEAR REPORT DECEMBER 2016
10
KEY FINANCIAL DISCLOSURES
PGG WRIGHTSON LIMITED
INTERIM STATEMENT OF FINANCIAL POSITION
As at 31 December 2016
UNAUDITED AUDITED UNAUDITED
DEC 2016 JUN 2016 DEC 2015
NOTE $000 $000 $000
ASSETS
Current
Cash and cash equivalents 4 10,069 7,561 16,839
Short–term derivative assets 2,595 3,743 2,917
Trade and other receivables 335,314 250,486 335,497
Finance receivables – – 784
Assets classified as held for sale 8,160 5,613 1,557
Biological assets 927 843 1,888
Inventories 214,251 244,074 209,163
Other investments 6 3,822 6,691 –
Total current assets 575,138 519,011 568,645
Non–current
Long–term derivative assets 2,412 1,516 380
Biological assets 61 108 107
Deferred tax asset 22,787 14,334 12,222
Investments in equity accounted investees 5 21,185 18,000 17,038
Other investments 6 1,925 2,165 17,345
Intangible assets 6,655 7,079 6,832
Property, plant and equipment 7 117,985 125,003 131,559
Total non–current assets 173,010 168,205 185,483
Total assets 748,148 687,216 754,128
LIABILITIES
Current
Debt due within one year 4 70,034 36,623 82,640
Short–term derivative liabilities 748 1,438 1,362
Accounts payable and accruals 269,426 239,696 269,542
Income tax payable 10,555 2,392 1,706
Defined benefit liability 9 1,117 2,642 –
Total current liabilities 351,880 282,791 355,250
Non–current
Long–term debt 4 96,283 97,511 101,595
Long–term derivative liabilities 762 940 445
Other long–term liabilities 9,138 8,588 8,402
Defined benefit liability 9 14,200 23,087 16,474
Total non–current liabilities 120,383 130,126 126,916
Total liabilities 472,263 412,917 482,166
EQUITY
Share capital 606,324 606,324 606,324
Reserves 5,231 2,033 8,876
Retained earnings (337,778) (336,101) (345,847)
Total equity attributable to shareholders of the Company 273,777 272,256 269,353
Non–controlling interest 2,108 2,043 2,609
Total equity 275,885 274,299 271,962
Total liabilities and equity 748,148 687,216 754,128
The accompanying notes form an integral part of these financial statements.

PGG WRIGHTSON LIMITED HALF YEAR REPORT DECEMBER 2016
11
PGG WRIGHTSON LIMITED
INTERIM STATEMENT OF FINANCIAL POSITION
As at 31 December 2016
Additional Financial Disclosures
including Notes to the Financial
Statements
FOR THE SIX MONTHS ENDED 31 DECEMBER 2016

PGG WRIGHTSON LIMITED HALF YEAR REPORT DECEMBER 2016
12
ADDITIONAL FINANCIAL DISCLOSURES
PGG WRIGHTSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the six months ended 31 December 2016
1 FAIR VALUE ADJUSTMENTS
UNAUDITED AUDITED UNAUDITED
DEC 2016 JUN 2016 DEC 2015
$000 $000 $000
Assets held for sale – (670) –
Biological assets 10 552 400
Investments (293) (114) –
(283) (232) 400
2 NET INTEREST AND FINANCE COSTS
UNAUDITED AUDITED UNAUDITED
DEC 2016 JUN 2016 DEC 2015
$000 $000 $000
Finance income contains the following items:
Other interest income 80 73 82
Finance income 80 73 82
Interest funding contains the following items:
Interest on loans and overdrafts (2,722) (6,304) (3,383)
Net interest on interest rate derivatives (173) (282) (77)
Fair value change on interest rate derivatives 585 (846) (122)
Effective interest on expected earnout payments (558) (809) –
Effective interest on expected defined benefit pension ESCT payments (229) – –
Other interest expense (506) (3) (146)
Bank facility fees (417) (845) (477)
Interest funding expense (4,020) (9,089) (4,205)
Foreign exchange contains the following items:
Net gain/(loss) on foreign denominated items 120 (3,717) (1,061)
Fair value change on foreign exchange derivatives 2,309 2,259 1,664
Foreign exchange income/(expense) 2,429 (1,458) 603
Net interest and finance costs (1,511) (10,474) (3,520)

PGG WRIGHTSON LIMITED HALF YEAR REPORT DECEMBER 2016
13
PGG WRIGHTSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the six months ended 31 December 2016
3 EARNINGS PER SHARE AND NET TANGIBLE ASSETS
UNAUDITED AUDITED UNAUDITED
DEC 2016 JUN 2016 DEC 2015
000 000 000
Number of shares
Weighted average number of ordinary shares 754,849 754,849 754,849
Number of ordinary shares 754,849 754,849 754,849
UNAUDITED AUDITED UNAUDITED
DEC 2016 JUN 2016 DEC 2015
$000 $000 $000
Net Tangible Assets
Total assets 748,147 687,216 754,128
Total liabilities (472,263) (412,917) (482,166)
less intangible assets (6,654) (7,079) (6,832)
less deferred tax (22,787) (14,334) (12,222)
246,443 252,886 252,908
UNAUDITED AUDITED UNAUDITED
DEC 2016 JUN 2016 DEC 2015
$ $ $
Net tangible assets per share 0.326 0.335 0.335
Earnings per share 0.021 0.052 0.021

PGG WRIGHTSON LIMITED HALF YEAR REPORT DECEMBER 2016
14
PGG WRIGHTSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
(CONTINUED)
For the six months ended 31 December 2016
ADDITIONAL FINANCIAL DISCLOSURES
4 CASH AND FINANCING FACILITIES
UNAUDITED AUDITED UNAUDITED
DEC 2016 JUN 2016 DEC 2015
$000 $000 $000
Cash and cash equivalents 10,069 7,561 16,839
Current financing facilities (70,034) (36,623) (82,640)
Term financing facilities (96,283) (97,511) (101,595)
(156,248) (126,573) (167,396)
The Company has a syndicated facility agreement which provides bank facilities of up to $176.00 million. The agreement contains various financial
covenants and restrictions that are standard for facilities of this nature, including maximum permissible ratios for debt leverage and operating
leverage. The Company has granted a general security deed and mortgage over all its wholly-owned New Zealand and Australian assets to a
security trust. These assets include the shares held in South American subsidiaries and equity accounted investees. ANZ Bank New Zealand Limited
acts as security trustee for the banking syndicate (ANZ Bank New Zealand Limited, Bank of New Zealand and Westpac New Zealand Limited).
The Company’s bank syndicate facilities provide:
– A term debt facility of $116.00 million maturing on 1 August 2018.
– A working capital facility of up to $60.00 million maturing on 1 August 2018.
The syndicated facility agreement also allows the Group, subject to certain conditions, to enter into additional facilities outside of the Company
syndicated facility. The additional facilities are guaranteed by the security trust. These facilities amounted to $19.41 million as at 31 December 2016
providing:
– Overdraft facilities of $9.54 million.
– Guarantee and trade finance facilities of $6.53 million.
– Finance lease facilities of $3.34 million.
In addition, the bank financing of the Group’s South American operations is provided by Uruguayan-authorised banks. Two of the Group’s wholly-
owned Uruguayan subsidiaries (Wrightson Pas S.A. and Agrosan S.A.) are jointly and severally financed by a club structure. The club facilities
contain various financial covenants and restrictions that are standard for facilities of this nature. The club facilities are denominated in USD, secured
by a mortgage over the new Uruguay logistics centre and provide:
– An amortising logistics centre facility of $14.37 million (USD 10 million) maturing on 17 September 2022.
– A committed facility of $17.24 million (USD 12 million) maturing on 17 September 2018.
Separate to the club facility, the Group’s South American operations have various unsecured financing facilities that amounted to $20.13 million
(USD 14.00 million) as at 31 December 2016.
5 ACQUISITION OF EQUITY ACCOUNTED INVESTEE
Agri Optics New Zealand Limited
On 11 October 2016 the Group acquired a 51% investment in Agri Optics New Zealand Limited. This jointly controlled entity is accounted for
using the equity method and is included in the Group’s Seed & Grain business segment. The acquisition involved an upfront payment and an
earn out component determined over the next two years based on the financial performance of the business. The initial investment recorded
for the investee was $0.80 million which includes management’s estimate of the fair value of the earn out. Agri Optics New Zealand Limited is a
Canterbury-based precision agriculture business.

PGG WRIGHTSON LIMITED HALF YEAR REPORT DECEMBER 2016
15
PGG WRIGHTSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
(CONTINUED)
For the six months ended 31 December 2016
6 OTHER INVESTMENTS
UNAUDITEDAUDITEDUNAUDITED
DEC 2016 JUN 2016 DEC 2015
NOTE$000$000$000
Current investments
BioPacificVentures 10 230 3,170 –
Advances to equity accounted investees 3,592 3,521 –
3,822 6,691 –
Non-current investments
BioPacificVentures10–– 12,040
Sundry other investments including saleyards 1,925 2,165 1,650
Advances to equity accounted investees – – 3,655
1,9252,16517,345
Investment in BioPacificVentures
In 2005 the Group committed $14.00 million to an international fund established for investment in food and agriculture life sciences. The
investment in BioPacificVentures has an anticipated total lifespan of 12 years. At 31 December 2016 $13.95 million has been drawn on the
committed level of investment (30 June 2016: $13.95 million, 31 December 2015: $13.95 million). A fair value gain of $0.50 million was recorded in
the Statement of Other Comprehensive Income for the BioPacifi
cVentures investment in the period to 31 December 2016 (30 June 2016: fair value
gain of $5.43 million, 31 December 2015: fair value gain of $4.86 million). In addition the Group received a capital return of $3.52 million from its
BioPacificVentures investment in the period to 31 December 2016 (30 June 2016: $9.68 million, 31 December 2015: $0.08 million).
Advances to equity accounted investees
This advance is a loan to the South American investee entity Fertimas S. A. Interest is payable on the balance and no provision for doubtful debts
was recorded against the loan as at 31 December 2016 (30 June 2016: nil, 31 December 2015: nil).
Sundry other investments including saleyards
Saleyard investments, which do not have a market price in an active market and whose fair value can not be reliably determined, are carried
at cost.
7
PROPERTY, PLANT AND EQUIPMENT
Acquisitions and disposals
During the period to 31 December 2016, the Group acquired assets with a cost of $4.26 million (30 June 2016: $30.75 million, 31 December 2015:
$22.41 million), together with assets acquired through business combinations of nil (30 June 2016: $0.23 million, 31 December 2015: $0.23 million).
Assets with a net book value of $10.08 million were disposed during the period to 31 December 2016 (30 June 2016: $19.88 million, 31 December
2015: $11.93 million), resulting in a gain on disposal of $1.10 million (30 June 2016 Gain: $4.99 million, 31 December 2015 Gain: $2.99 million).
8 SEASONALITY OF OPERATIONS
The Group is subject to significant seasonal fluctuations. The Retail business is weighted towards the first half of the financial year as demand for
New Zealand farming inputs are generally weighted towards the Spring season. Livestock and Seed & Grain activities are significantly weighted to
the second half of the financial year. Seed & Grain revenues reflect the fact the Group operates in geographical zones that suit Autumn harvesting
and sowing. New Zealand generally has spring calving and lambing and so Livestock trading is weighted towards the second half of the financial
year in order for farmers to maximize their incomes. Other business units have similar but less material cycles. The Group recognises that this
seasonality is the nature of the industry and plans and manages its business accordingly.

PGG WRIGHTSON LIMITED HALF YEAR REPORT DECEMBER 2016
16
PGG WRIGHTSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
(CONTINUED)
For the six months ended 31 December 2016
ADDITIONAL FINANCIAL DISCLOSURES
9 DEFINED BENEFIT ASSET / LIABILITY
During the period the Group made lump sum contributions to the two defined benefit plans amounting to $6.03 million. In addition the assets
and liabilities of the Wrightson Retirement Plan were transferred to the PGG Wrightson Employee Benefits Plan during the period. This resulted in
the Wrightson Retirement Plan having no liability as at 31 December 2016.
10 COMMITMENTS
UNAUDITED AUDITED UNAUDITED
DEC 2016 JUN 2016 DEC 2015
NOTE $000 $000 $000
There are commitments with respect to:
Capital expenditure not provided for 2,365 1,427 7,786
Investment in BioPacificVentures 6 51 51 51
Contributions to Primary Growth Partnership 1,167 1,429 1,952
3,583 2,907 9,789
Primary Growth Partnership – seed and nutritional technology development
The Group announced on 18 February 2013 that it had completed the contracting process for the Primary Growth Partnership (PGP) programme
with the Ministry of Primary Industries. The PGP programme is a Seed and Nutritional Technology Development Programme that aims to deliver
innovative forages for New Zealand farms. As a result of entering into the partnership the Group is committed to contributions to the partnership
of $3.61 million over the six year life of the programme which ends on 31 December 2018. As at 31 December 2016 total contributions of $2.44
million (30 June 2016: $2.18 million, 31 December 2015: $2.00 million) have been made to the programme.
Forward purchase commitments
The Group as part of its ordinary course of business enters into forward purchase agreements with seed and wool growers. These commitments
extend for periods of up to 3 years. These commitments are at varying stage of execution, therefore there remains uncertainty associated with
yield, quality and market price. The Group is unable to sufficiently quantify the value of these commitments.
11 CONTINGENT LIABILITIES
PGG Wrightson Max Rewards loyalty programme
PGG Wrightson operates the Max Rewards loyalty programme. A provision is retained for the expected level of points redemption. A contingent
liability of $0.12 million represents the balance of unexpired points that do not form part of the provision (30 June 2016: $0.13 million, 31
December 2015: $0.13 million). Losses are not expected to arise from this contingent liability.
12 RELATED PARTIES
Parent and ultimate controlling party
The immediate parent of the Group is Agria (Singapore) Pte Limited and the ultimate controlling party of the Group is Agria Corporation.
Transactions with key management personnel
UNAUDITED AUDITED UNAUDITED
DEC 2016 JUN 2016 DEC 2015
$000 $000 $000
Key management personnel compensation comprised:
Short-term employee benefits 3,622 5,798 3,300
Post-employment benefits 64 205 189
Termination benefits – – –
3,686 6,003 3,489

PGG WRIGHTSON LIMITED HALF YEAR REPORT DECEMBER 2016
17
PGG WRIGHTSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
(CONTINUED)
For the six months ended 31 December 2016
13 EVENTS SUBSEQUENT TO END OF INTERIM PERIOD
Assets held for sale
Subsequent to 31 December 2016 an unconditional sale agreement was entered into for one of the assets classified as held for sale. The sale is
expected to settle in February 2017 and will result in the disposal of property with a book value of $5.50 million. The Group expects to realise a
gain of approximately $5.00 million on the disposal of this asset.
Dividend
On 20 February 2017 the Directors of PGG Wrightson Limited resolved to pay an interim dividend of 1.75 cents per share on 4 April 2017 to
shareholders on the Company’s share register as at 5.00pm on 10 March 2017. This dividend will be fully imputed.
14 REPORTING ENTITY
PGG Wrightson Limited (the “Company”) is a company domiciled in New Zealand, registered under the Companies Act 1993 and listed on the New
Zealand Stock Exchange. The Company is an FMC Entity in terms of the Financial Markets Conduct Act 2013.
The interim financial statements of PGG Wrightson Limited for the six months ended 31 December 2016 comprise the Company and its
subsidiaries (together referred to as the “Group”) and the Group’s interest in associates and jointly controlled entities. Financial statements have
been prepared in accordance with the requirements of the Financial Markets Conduct Act 2013 and the Financial Reporting Act 2013.
The Group is primarily involved in the provision of goods and services within the agricultural sector.
15 BASIS OF PREPARATION
Statement of Compliance
The interim financial statements have been prepared in accordance with New Zealand Generally Accepted Accounting Practice (“NZ GAAP”). They
comply with the New Zealand equivalents to International Financial Reporting Standards (“NZ IFRS”) and other applicable Financial Reporting
Standards as applicable for profit oriented entities, and in particular NZ IAS 34. The interim financial statements comply with International Financial
Reporting Standards as issued by the International Accounting Standards Board, as applicable for profit oriented entities.
The interim financial statements do not include all of the information required for full annual financial statements. The same accounting policies
and methods of computation are followed in the interim financial statements as applied in the Group’s latest annual audited financial statements.
These statements were approved by the Board of Directors on 20 February 2017.
Standards and Interpretations That Have Been Issued or Amended But Are Not Yet Effective
A number of new standards and interpretations are not yet effective for the period ended 31 December 2016 and have not been applied in
preparing these interim financial statements. None of these standards are expected to have a significant impact on these financial statements
except for:
– IFRS 9 (2014) Financial Instruments has been issued. The final component of IFRS 9 (2014) introduces a new expected credit loss model for
calculating impairment. IFRS 9 (2014) is effective for annual periods beginning on or after 1 January 2018. The Group does not plan to adopt
IFRS 9 (2014) early and the extent of the impact has not yet been determined. The Group early adopted IFRS 9 (2013) from 1 January 2015. IFRS
9 (2013) provides amended general hedge accounting requirements.
– IFRS 15 Revenue from Contracts with Customers has been issued. This standard introduced a new revenue recognition model for contracts
with customers. The standard is effective for annual periods beginning on or after 1 January 2018. The Group does not plan to adopt IFRS 15
early and the extent of the impact has not yet been determined.
– IFRS 16 Leases has been issued. This standard eliminates the classification of leases as either operating leases or finance leases. The standard
uses a single lessee model which requires a lessee to recognise on the Statement of Financial Position assets and liabilities for all leases with a
term of more than 12 months. The standard is effective for annual periods beginning on or after 1 January 2019. The Group does not plan to
adopt IFRS 16 early and the extent of the impact has not yet been determined.
– A variety of minor improvements to standards have been made in order to clarify various treatments of specific transactions. These are not
expected to have an impact on the Group’s financial results.

PGG WRIGHTSON LIMITED HALF YEAR REPORT DECEMBER 2016
18
PGG WRIGHTSON LIMITED HALF YEAR REPORT DECEMBER 2016
19
ADDITIONAL FINANCIAL DISCLOSURES
PGG WRIGHTSON LIMITED
INTERIM STATEMENT OF CHANGES IN EQUITY
For the six months ended 31 December 2016
FOREIGN CURRENCY REALISED CAPITAL
SHARE TRANSLATION AND OTHER REVALUATION HEDGING DEFINED BENEFIT FAIR VALUE RETAINED NON–CONTROLLING TOTAL
CAPITAL RESERVE RESERVES RESERVE RESERVE PLAN RESERVE RESERVE EARNINGS INTEREST EQUITY
$000 $000 $000 $000 $000 $000 $000 $000 $000 $000
Balance at 1 July 2015 606,324 (269) 23,443 556 (1,332) (14,609) (3,021) (346,534) 2,810 267,368
Total comprehensive income for the period
Profit or loss – – – – – – – 15,947 119 16,066
Other comprehensive income
Foreign currency translation differences – (3,891) – – – – – – (33) (3,924)
Effective portion of changes in fair value of equity instruments, net of tax – – – – – – 4,856 – – 4,856
Effective portion of changes in fair value of cash flow hedges, net of tax – – – – 2,024 – – – – 2,024
Defined benefit plan actuarial gains and losses, net of tax – – – – – 1,119 – – – 1,119
Total other comprehensive income – (3,891) – – 2,024 1,119 4,856 – (33) 4,075
Total comprehensive income for the period – (3,891) – – 2,024 1,119 4,856 15,947 86 20,141
Transactions with shareholders, recorded directly in equity
Contributions by and distributions to shareholders
Dividends to shareholders – – – – – – – (15,260) (287) (15,547)
Total contributions by and distributions to shareholders – – – – – – – (15,260) (287) (15,547)
Balance at 31 December 2015 606,324 (4,160) 23,443 556 692 (13,490) 1,835 (345,847) 2,609 271,962
Balance at 1 January 2016 606,324 (4,160) 23,443 556 692 (13,490) 1,835 (345,847) 2,609 271,962
Total comprehensive income for the period
Profit or loss – – – – – – – 22,876 636 23,512
Other comprehensive income
Foreign currency translation differences – (4,589) – – – – – – – (4,589)
Effective portion of changes in fair value of equity instruments, net of tax – – – – – – 577 – – 577
Effective portion of changes in fair value of cash flow hedges, net of tax – – – – 776 – – – – 776
Defined benefit plan actuarial gains and losses, net of tax – – – – – (4,597) – – – (4,597)
Total other comprehensive income – (4,589) – – 776 (4,597) 577 – – (7,833)
Total comprehensive income for the period – (4,589) – – 776 (4,597) 577 22,876 636 15,679
Transactions with shareholders, recorded directly in equity
Contributions by and distributions to shareholders
Dividends to shareholders – – – – – – – (13,424) 82 (13,342)
Total contributions by and distributions to shareholders – – – – – – – (13,424) 82 (13,342)
Transfer to retained earnings – – – – – 990 – 294 (1,284) –
Balance at 30 June 2016 606,324 (8,749) 23,443 556 1,468 (17,097) 2,412 (336,101) 2,043 274,299

PGG WRIGHTSON LIMITED HALF YEAR REPORT DECEMBER 2016
20
PGG WRIGHTSON LIMITED HALF YEAR REPORT DECEMBER 2016
21
PGG WRIGHTSON LIMITED
INTERIM STATEMENT OF CHANGES IN EQUITY
(CONTINUED)
For the six months ended 31 December 2016
ADDITIONAL FINANCIAL DISCLOSURES
FOREIGN CURRENCY REALISED CAPITAL
SHARE TRANSLATION AND OTHER REVALUATION HEDGING DEFINED BENEFIT FAIR VALUE RETAINED NON–CONTROLLING TOTAL
CAPITAL RESERVE RESERVES RESERVE RESERVE PLAN RESERVE RESERVE EARNINGS INTEREST EQUITY
$000 $000 $000 $000 $000 $000 $000 $000 $000 $000
Balance at 1 July 2016 606,324 (8,749) 23,443 556 1,468 (17,097) 2,412 (336,101) 2,043 274,299
Total comprehensive income for the period
Profit or loss – – – – – – – 15,998 (9) 16,341
Other comprehensive income
Foreign currency translation differences – 960 – – – – – – (18) 1,087
Effective portion of changes in fair value of equity instruments, net of tax – – – – – – 504 – – 504
Effective portion of changes in fair value of cash flow hedges, net of tax – – – – (1,468) – – – – (1,468)
Defined benefit plan actuarial gains and losses, net of tax – – – – – 779 – – – 427
Total other comprehensive income – 960 – – (1,468) 779 504 – (18) 550
Total comprehensive income for the period – 960 – – (1,468) 779 504 15,998 (27) 16,891
Transactions with shareholders, recorded directly in equity
Contributions by and distributions to shareholders
Investment in minority interest – – – – – – – – 381 381
Dividends to shareholders – – – – – – – (15,252) (289) (15,686)
Total contributions by and distributions to shareholders – – – – – – – (15,252) 92 (15,305)
Transfer to retained earnings – 1,491 (875) – – 1,807 – (2,423) – –
Balance at 31 December 2016 606,324 (6,298) 22,568 556 – (14,511) 2,916 (337,778) 2,108 275,885

---

PGG Wrightson Limited
Results for announcement to the market
Reporting PeriodSix Months ended 31 December 2016
Previous Reporting PeriodSix Months ended 31 December 2015
Amount (000s)Percentage change
Revenue from ordinary activities
$NZ 607,771- 2.5%
Profit (loss) from ordinary activities after
tax attributable to security holder.
$NZ 15,998- 0.3%
Net profit (loss) attributable to security
holders.
$NZ 15,998
- 0.3%
Interim/Final DividendAmount per securityImputed amount per security
Interim0.0175$ 0.006806$
Record Date
10 March 2017
Dividend Payment Date
4 April 2017
CommentsRefer to results release and financial statements.
Net Tangible Assets per security: 31 December 2016 $0.326,
30 June 2016 $0.335, 31 December 2015 $0.335
Profit (loss) from ordinary activities after tax attributable to
security holders calculated as Profit attributable to Shareholders of
the Company as disclosed in the Interim Statement of Profit or
Loss.
Net profit (loss) attributable to security holders calculated as Profit
attributable to Shareholders of the Company as disclosed in the
Interim Statement of Profit or Loss.

---

APPENDIX 7 – NZSX Listing Rules
Number of pages including this one
(Please provide any other relevant
NZSX Listing Rule 7.12.2. For rights, NZSX Listing Rules 7.10.9 and 7.10.10. details on additional pages)
For change to allotment, NZSX Listing Rule 7.12.1, a separate advice is required.
Full name
of Issuer
Name of officer authorised to
Authority for event,
make this notice
e.g. Directors' resolution
Contact phone
Contact fax
numbernumber
Date
Nature of event
Bonus
If ticked,
Rights Issue
Tick as appropriate
Issue
state whether:
Taxable
/ Non TaxableConversionInterestRenouncable
Rights IssueCapitalCall
Dividend
If ticked, stateFull
non-renouncable
change
x
whether:
Interim
X
YearSpecialDRP Applies
EXISTING securities affected by this
If more than one security is affected by the event, use a separate form.
Description of theISIN
class of securities
If unknown, contact NZX
Details of securities issued pursuant to this eventIf more than one class of security is to be issued, use a separate form for each class.
Description of theISIN
class of securities
If unknown, contact NZX
Number of Securities toMinimum
Ratio, e.g
be issued following eventEntitlement
1 for 2 for
Conversion, Maturity, Call
Treatment of Fractions
Payable or Exercise Date
Tick if
provide an
pari passu
ORexplanation
Strike price per security for any issue in lieu or date
of the
Strike Price available.
ranking
Monies Associated with Event
Dividend payable, Call payable, Exercise price, Conversion price, Redemption price, Application money.
Source of
Amount per security
Payment
(does not include any excluded income)
Excluded income per security
(only applicable to listed PIEs)
Supplementary
Amount per security
Currencydividendin dollars and cents
details -
NZSX Listing Rule 7.12.7
Total monies (estimated)
TaxationAmount per Security in Dollars and cents to six decimal places
In the case of a taxable bonusResident
Imputation Credits
issue state strike priceWithholding Tax(Give details)
Foreign
FDP Credits
Withholding Tax(Give details)
Timing
(Refer Appendix 8 in the NZSX Listing Rules)
Record Date 5pmApplication Date
For calculation of entitlements -Also, Call Payable, Dividend /
Interest Payable, Exercise Date,
Conversion Date. In the case
of applications this must be the
last business day of the week.
Notice DateAllotment Date9
Entitlement letters, call notices,For the issue of new securities.
conversion notices mailedMust be within 5 business days
of application closing date.
OFFICE USE ONLY
Ex Date:
Commence Quoting Rights:Security Code:
Cease Quoting Rights 5pm:
Commence Quoting New Securities:Security Code:
Cease Quoting Old Security 5pm:
EMAIL: announce@nzx.com
Notice of event affecting securities
1
PGG Wrightson Limited
Julian DalyDirectors Resolution
027 5533373 03 349 617620022017
Ordinary sharesNZREIE0001S4
In dollars and cents
Retained earnings
$0.0175
Enter N/A if not
applicable
$$0.001215$0.006806
$
NZD$0.003088
$13,209,854
Date Payable
4 April, 2017
10 March, 20174/4/2017