NZ Rural Land Management Earnings Contribution Update

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

2 August 2021

announce@nzx.com


New Zealand Rural Land Management Partnership Earnings Contribution
Update

Allied Farmers Limited (“Allied Farmers” NZX: ALF) is pleased to note the
announcement today from New Zealand Rural Land Company Limited (NZL.NZX)
that, subject to audit completion, a performance fee of $1.183 million has been
calculated as payable to its manager, New Zealand Rural Land Management Limited
Partnership (NZRLM) for the period ending 30 June 2021. In accordance with the
management agreement the performance fee is to be satisfied in NZL shares at the
30 June 2021 - Net Asset Value (NAV) of $1.3351 per share.
Allied Farmers confirms that, that the attributable earnings (including the
performance fee) from NZRLM for FY21 will be approximately $1.1 million.
The above figures are all subject to any final audit adjustments.

Richard Perry
Chair