Seeka Provides Special Meeting Presentation

Special Meeting of Shareholders and
Stakeholder Meeting
15 October 2026

Agenda
2
Questions and General Business
Resolution
Chief Executive’s report
Chair’s introduction
Introduction to meeting
1
2
3
5
4

Proxies
3
Chair of the Meeting13,010,082
New Zealand Shareholders Association1,272,950
Cecilia Tarrant124,741
Michael Franks11,427
Total14,419,200

Chair’s Introduction
Hayley Gourley

Seeka Board
➢Hayley Gourley stepped into the Seeka Chair role
➢Mark Dewdney has resigned as a Director
➢Effective 15
th
October 2026
5

Our business
6
Connecting sustainable produce to the world
Seeka grows, processes, supplies, and markets produce
to domestic and international consumers
Orcharding service
Delivering a valuable service to growers and securing sustainable volumes to post harvest
Post harvest service
Core business providing an essential infrastructure service to growers
Supplying Zespri, SeekaFresh, Freshmax, and other marketers
Primarily kiwifruit with a range of other varieties
Australian produce business
Fully integrated orchard to market
Our growing produce basket
Kiwifruit, avocado, kiwiberry, nashi, pears, jujube, plums, citrus, Kiwi Crush, LUVO oils, bananas, papaya, pineapples
1
2
3
4
5

Record half year profit
7
$62.6m net profit before tax – up 5%
Automation and innovation enabled efficiency gains
3 new Reemoon solutions | Post harvest EBIT up 7% on 4% less kiwifruit
$1.07 earnings per share – up 19%
$11m reduction of net bank debt since Jun 2025
$51m reduction since June 2024 | 1.22x net leverage ratio – down from 1.60x
Achieved sustainability milestones
30% reduction in GHG category 1 and 2 emissions from 2022 base | 50% reduction by 2030 on track
1
2
3
4
5

New Capacity Investment in Gisborne Region Announced
8
➢Adjacent packhouse to existing packhouse to be refurbished.
➢New Reemoon packing machine ordered, highly automated.
➢Total investment estimated at $15.5m.
➢Alleviates risk posed by fragile Waioweka gorge.
➢Aligns with local port infrastructure investment.
➢Gisborne region set for kiwifruit expansion.
➢Aligns with strategy of having an array of highly automated fruit handling capacity adjacent to where
the fruit is grown.
➢Capital case exceeds investment thresholds.

FY26 full year operational guidance
Forecasting full year net profit before tax between
$41.0m and $45.0m
Below $47.5m achieved in FY25
−Due to record industry yields in FY25
9
Seeka reconfirms FY 2026 guidance range
FY26FY26FY25
GuidanceGuidanceFull year
Lower rangeUpper rangeActuals
Net profit before tax
$ 41.0 m$ 45.0 m$ 47.5 m

Chief Executive’s Report
Michael Franks

Automation delivers efficiency gains and lifts margins
11
NZ kiwifruit crop down following exceptional growing year in 2025
45.4m Class 1 trays packed | Lower volumes for Orcharding and Post harvest | Australia also down
Delivered excellent operational performance
Excellent quality from growers | Efficient harvest management | Quality produce to markets
Efficiency gains from new Reemoon packlines
First year of operations | Packing kiwifruit and citrus | Lifted Post harvest earnings
Positive contribution from all operating segments
Orcharding | Post harvest | SeekaFresh Retail Services | Australian Operations
Additional earnings from other produce varieties
Citrus | Avocados | Persimmons | Kiwiberry
1
2
3
4
5

Increased earnings in spite of lower crop
$305.5m Revenue, down 1% on June 2025 ( 1H25 )
−NZ kiwifruit crop down 4%
$86.3m EBITDA, up 3%
−Automation efficiencies enable improved earnings
−Tight cost management
$62.6m Net profit before tax, up 5%
−Lower finance costs and lower debt
Capital management strategy in place
12
NZ kiwifruit crop down 4%, earnings up 3% from efficiency gains
1H261H25
$ millions
UnauditedUnauditedChange
Revenue305.5307.9
( 1%)
Cost of sales184.6188.2
( 2%)
Change in fair value of biological assets - crop( 21.9)( 22.8)
( 4%)
Gross profit99.096.8
2%
EBITDA86.383.5
3%
EBIT69.767.3
4%
Net profit before tax62.659.4
5%
Net profit after tax45.437.8
20%

Balance sheet
$591.9m capital employed
−Up 5% on 1H25
$418.7m PP&E, up 8%
−Investments in post harvest automation
−Australia seasonal-worker accommodation
−A stronger AUD increased the NZD carrying value of
Australian assets
−Revaluations at December 2025
$1.0m of assets held for sale
−Completed in August 2026
Capital employed at 30 June
13
1H261H25
$ millionsUnauditedUnauditedChange
Current assets - excludes cash
Trade and other receivables116.7121.8
( 4%)
Biological assets - crop2.62.4
8%
Assets held for sale1.0-
-
Inventories31.228.5
10%
151.5152.7
( 1%)
Current liabilities - excludes debt
Trade and other payables( 62.2)( 68.6)
( 9%)
Tax liability( 26.3)( 16.6)
59%
( 88.5)( 85.2)
4%
Net working capital62.967.5
( 7%)
Non-current assets
Property, plant and equipment418.7387.5
8%
Lease assets67.466.3
2%
Investments in associates and Joint
Arrangements
7.98.0
( 2%)
Derivatives (liability)( 1.0)( 1.0)
-
Financial assets1.41.3
11%
Deferred tax assets6.84.2
60%
Intangibles and receivables27.728.9
( 4%)
528.9495.2
7%
Capital employed591.9562.7
5%

Balance sheet
$119.8m net bank debt at June 2026
−$10.8m decrease on June 2025
−$51.1m decrease on June 2024
$184.0m facility from banking syndicate
−Continued support from the banking syndicate
−Seeka elected to reduce the facility by $20m
1.22x net leverage ratio
−Net bank debt / EBITDA measure
−Down from 1.60x at June 2025
14
Net bank debt at 30 June
1H261H25
$ millions
UnauditedUnauditedChange
Non-current liabilities - excludes debt
Lease liabilities
(current and non current )
83.480.7
3%
Deferred tax liability
50.949.2
3%
134.3129.9
3%
Cash
( 3.4)( 5.8)
( 42%)
Borrowings
123.2136.4
( 10%)
Net bank debt
119.8130.6
( 8%)
Total equity
337.8302.1
12%
Net leverage ratio
1.22 x1.60 x

1H261H25FY25
UnauditedUnauditedChangeAudited
Net profit$ 45.4 m $ 37.8 m 20%$ 32.0 m
Weighted shares on issue42.5 m 42.1 m 1%41.9
Earnings per share$ 1.07 $ 0.90 19%$ 0.76
Dividends per share$ 0.25$ 0.05$ 0.30
Paid 15 October 2026$ 0.20
Net tangible assets (NTA)$ 318 m $ 282 m
Shares at period end44.6 m 43.8 m
Net tangible assets per share$ 7.12 $ 6.44 11%
As required by NZ IAS 33, 1.73m shares held by Seeka Share Trustee Limited for the Grower Loyalty and Employee Share Schemes are excluded from EPS calculations. If included, the weighted average EPS would be $1.02 (1H25: $0.86)
Earnings per share and dividends
$1.07 Earnings per share
1

−Up 19% from $0.90
Dividends paid
−$0.50 paid out over the 12 months to June 2026
$0.20 Dividend paid today
$7.12 Net tangible assets per share
−Up 11% from $6.44
15

Orchard operations
Supplied 39% of Seeka’s post harvest business in 2026
Focus on growing high-quality crops generating high
returns for orchard owners and supply to post harvest
$63.6m Revenue – down 8% on pcp
$8.1m EBITDA – down 16% on pcp
$6.3m EBIT – down 20% on pcp
Yields down in key varieties
−SunGold down 7%, Hayward down 18%
−Follows excellent harvest season 2025
Co-investing with iwi and Kānoa
−70 hectares of kiwifruit in Raukokore, East Cape
−Progressively entering production
16
Growing kiwifruit, avocado, and kiwiberry in New Zealand
1H261H25FY25
$ millionsUnauditedUnaudited
Change
Audited
Revenue63.6 69.4
( 8%)
117.3
EBITDA8.1 9.7
( 16%)
10.3
EBIT6.3 7.9
( 20%)
5.6
Segment assets95.5 104.2
( 8%)
76.4
EBITDA pre NZ IFRS 16
6.7 8.2
( 18%)
7.5
Kiwifruit grown - class 1 trays (millions)
Total kiwifruit trays grown17.5 19.1
( 8%)
SunGold trays (millions)9.9 9.8
1%
SunGold yields - average per hectare13,383 14,436
( 7%)
Hayward trays (millions)7.2 8.9
( 19%)
Hayward yields - average per hectare10,05512,332
( 18%)
Organic and RubyRed0.4 0.4
( 2%)

Post harvest operations
Generated 68% of Seeka’s revenues 1H26
Focus on supplying quality service and produce
$206.6m Revenue – up 1% on pcp
$83.2m EBITDA – up 6% on pcp
$73.3m EBIT – up 7% on pcp
Automation increases earnings on lower volumes
−New Reemoon kiwifruit packlines at Kerikeri & Huka Pak
−New Reemoon infeed on Orangewood citrus packline
Post harvest includes $450.4m of assets
−Representing 66% of total Seeka assets
17
Packing, coolstoring, and shipping kiwifruit and avocado for New Zealand orchard owners
1H261H25FY25
$ millionsUnauditedUnaudited
Change
Audited
Revenue206.6 204.6
1%
276.6
EBITDA83.2 78.5
6%
105.0
EBIT73.3 68.6
7%
85.5
Segment assets450.4 422.3
7%
397.4
EBITDA pre NZ IFRS 1678.3 74.1
6%
95.8
Kiwifruit trays packed
SunGold
30.4 29.9
2%
Hayward and other varieties
15.0 17.2
( 13%)
Total class 1
45.4 47.1
( 4%)
Class 2
1.4 1.9
( 28%)
Total packed
46.8 49.0
( 4%)

SeekaFresh retail services operations – market facing business
Connecting Seeka to the market
Creating new revenue streams
$12.7m Revenue – up 13% on pcp
$2.0m EBITDA – up 28% on pcp
$1.4m EBIT – up 39% on pcp
SeekaFresh continues to grow in a challenging market
LUVO avocado oil production and marketing
−Launched 2025, starting to achieve market momentum
Marketing Class 2 kiwifruit and avocado, packing kiwiberry, selling imported fruit, and Kiwi Crush production
18
1H261H25FY25
$ millionsUnauditedUnaudited
Change
Audited
Revenue12.7 11.2
13%
22.7
EBITDA2.0 1.5
28%
3.2
EBIT1.4 1.0
39%
2.1
Segment assets13.5 15.0
( 10%)
12.6
EBITDA pre NZ IFRS 161.5 1.0
46%
2.2

Australian operations
Integrated orchard-to-market business
$22.2m Revenue – same as pcp
$4.5m EBITDA – down 29%
$2.9m EBIT – down 40%
Volumes down 16% due to hot and dry summer
−4,760 tonnes of fruit harvested
2,226 tonnes of kiwifruit grown and marketed
−Production from new developments offset lower yields
Harder year in Australia
19
Growing, packing, and retailing kiwifruit and other Australian produce on owned and leased orchards
1H261H25FY25
NZD $ millionsUnauditedUnaudited
Change
Audited
Revenue22.2 22.2
0%
21.6
EBITDA4.5 6.4
( 29%)
4.7
EBIT2.9 4.8
( 40%)
1.4
Segment assets86.7 70.3
23%
78.0
EBITDA pre NZ IFRS 163.3 5.3
( 38%)
2.2
Fruit grown - (tonnes)
Kiwifruit2,226 2,222
0%
Nashi953 1,275
( 25%)
Pears1,326 1,985
( 33%)
Plums195 149
31%
Jujube61 54
13%
Total tonnes grown4,760 5,685
( 16%)

Focus for 2027
20
Deliver operational excellence and financial results
1
2
3
Drive efficiencies from the automated packlines
Capacity increases to meet demand for Seeka’s services
Renew capacity and automation plans
4
Capital management strategy in place
5

Resolution
Hayley Gourley
21

Resolution. Approval of Financial Assistance and Share Issue for
Grower Loyalty Share Scheme
22
Scheme Overview
1.5m maximum shares issued
−44.6m shares currently issued
−3.33% increase in Seeka’s issued capital
−Growers have to pay cash for shares at market value
$9.0m maximum loan value
−The maximum loan is $9.0m, irrespective of the share price
Limited loss in value
−Shares purchased at current market price
−No discount applied
Scheme Purpose
The scheme encourages and rewards loyalty to the
company and secures supply and earnings
−Issues shares at market price to growers and vests if
100% of crop is supplied for 3 harvest seasons
−In 3 years’ time the grower pays the outstanding loan,
less dividends
Incentivises growers to provide a longer-term supply
commitment
−Grower loyalty schemes first introduced in 2019
−Post harvest sector is very competitive
−Aids decision making on longer-term capital
expenditure

Resolution. Approval of Financial Assistance and Share Issue
for Grower Loyalty Share Scheme
“That Seeka:
a)issue up to 1,500,000 new ordinary shares in Seeka, at the issue price
described in the explanatory notes, pursuant to the Grower Loyalty Share
Scheme described in the explanatory notes; and
b)make loans of up to a maximum aggregate amount of $9,000,000, as
described under the heading “Loan” in the explanatory notes, to fund the
issue price of the shares referred to in (a).”
To consider, and if thought fit, pass the following as an ordinary resolution:
23
If you vote in favour of the Resolution, you will be ineligible to participate in the Scheme

Meeting process
24
Online voting and asking questions
The voting boxQuestion box

QUESTIONS
AND GENERAL BUSINESS
25

seeka.co.nz
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