Rights Issue Oversubscribed

Allied Farmers Ltd
201 Broadway, Stratford, 4332
PO Box 304, Stratford 4352

Phone: 06 765 6199
Web: http://www.alliedfarmers.co.nz
Email: headoffice@alliedfarmers.co.nz
22 December 2020

announce@nzx.com

RIGHTS ISSUE OVERSUBSCRIBED

Allied Farmers Limited (“Allied Farmers”; NZX: ALF) is delighted with the demand for its $3
million 1 for 3 renounceable rights offer (the Offer) which closed oversubscribed on 18
December 2020.

Shareholders and investors that exercised their entitlements will receive their full allocation.
Those that applied for shares in the over-subscription facility will be scaled on a pro-rated
63.6% acceptance basis*. As a result, Allied Farmers has raised $3 million in the Offer.

Allied Farmers Chair, Richard Perry, said: “We are very encouraged by this strong show of
support. A significant proportion of the capital was raised in the couple of days after we
announced that the NZ Rural Land Management Agreement was unconditional, and that we
had agreed to invest an additional $750,000 in the New Zealand Rural Land Company IPO.

This tells us that shareholders endorse this investment, and want to participate in our strategy
to invest in businesses that complement our existing core activities and that provide solutions
to the issues facing the agricultural sector”.

The new shares will be allotted, and shareholders will be advised of the their final allocations,
on Thursday 24 December 2020.

Richard Perry

Chairman

*Applicants will not be scaled for the first 1,000 shares that they applied for in the
oversubscription facility.