Allied Farmers Limited · NZX:ALF
Allied Farmers — Shareholder Meeting (November 2023)
12 slides from Allied Farmers's shareholder meeting presentation, Nov 23, 2023
Slide 1: Annual Shareholder Meeting 23 November 2023
ANNUAL SHAREHOLDER MEETING 23 November 2023 Allied Farmers Limited 210 Broadway, Stratford 4332, New Zealand alliedfarmers.co.nz Phone +64 6 765 6199
Slide 2: Agenda
Agenda 1. Chair’s Introduction 2. Presentation to Shareholders 3. Shareholder Discussion 4. Resolutions Allied Farmers Limited 210 Broadway, Stratford 4332, New Zealand Phone +64 6 765 6199 alliedfarmers.co.nz 2
Slide 3: FY 2023 Results Commentary and Operational Update
FY 2023 Results Commentary and Operational Update • Allied Farmers reported a Net Profit After Tax (NPAT) of $3.338m (+16.06%) in FY 2023 vs. $2.876m in FY 2022 • The increased FY23 profit was driven by increased returns from NZ Farmers Livestock (NZFL) - largely from meat processing - but offset by
Slide 4: FY 2023 Results Commentary and Operational Update
FY 2023 Results Commentary and Operational Update • NZRLM is the external manager of NZX listed New Zealand Rural Land Company (NZL). NZL currently owns 14,847 hectares of rural land and forest estates, an increase of 3,137 hectares during FY23. • The value of NZL’s portfolio increased +0.94% in FY2
Slide 5: FY 2023 Results Commentary + Operational Update
FY 2023 Results Commentary + Operational Update • Each of the NZ Farmers Livestock business areas – Livestock Agency, Veal and Finance – improved on the prior year to achieve consolidated earnings 41.1% ahead of the prior year. • That said, the performance has been overshadowed by the loss of our li
Slide 6: FY 2023 - Tax Loss Update
FY 2023 - Tax Loss Update • Allied Farmers has a valuable tax loss asset which was the result of legacy investments in the finance sector. During FY23 Allied obtained a Private Ruling from Inland Revenue under s 91E of the Tax Administration Act 1994 that significantly increased these tax losses - u
Slide 7: Group Structure
Group Structure 100.0% 100.0% Allied Farmers Rural Ltd. Manage 67.1% 52.0% 100.0% 100.0% NZ Farmers Redshaw Livestock Farmers Meat Export Livestock Finance Limited (52%) Ltd. Ltd. • Allied Farmers full corporate structure is detailed in appendices in the presentation provided to the NZX this morning
Slide 8: Governance Structure
Governance Structure Philip Luscombe Richard Milsom Shelley Ruha Independent Director Managing Director Independent Chair Philip was appointed a Director of Allied Farmers Limited in Richard was appointed Managing Director of Allied Farmers Shelley was appointed a Director of Allied Farmers Limited
Slide 9: ASM Resolutions
ASM Resolutions Resolutions & Other Business: # 1 Director re-election: That Richard Milsom be re-elected as Managing Director of the Company. # 2. Auditor’s fees: That the re-appointment of RSM Hayes Audit as the auditor of the Company be recorded and the Directors be authorised to fix the auditor’
Slide 10: ASM Proxy Votes
ASM Proxy Votes Allied Farmers Limited 210 Broadway, Stratford 4332, New Zealand Phone +64 6 765 6199 alliedfarmers.co.nz 9
Slide 11: Appendix #1: Allied Farmers Full Corporate Structure - as at 23 November 2023
Appendix #1: Allied Farmers Full Corporate Structure - as at 23 November 2023 - Pre-Amalgamations Allied Farmers (New Allied Farmers Rural Rural Funding ALF Nominees Ltd. Zealand) Ltd. NZ Rural Land Ltd. SolutioNZ Limited Management GP Ltd. (100%) NZ Rural Land Management Limited Partnership (100%)
Slide 12: www.alliedfarmers.co.nz
www.alliedfarmers.co.nz Allied Farmers Limited 210 Broadway, Stratford 4332, New Zealand Phone +64 6 765 6199 alliedfarmers.co.nz 11