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Sun RICE Group ASX ANNOUNCEMENT 16 December 2021 SunRice Group FY2022 Half Year Financial Results : Strong earnings recovery despite global supply chain challenges Strong improvement in earnings , with EBITDA of $ 36.9 million and NPAT of $ 16.7 million , up 32 % and 38 % respectively on the prior corresponding period , underpinned by 11 % growth in revenue ■ The return of rice in the Riverina , a progressive turnaround in the performance of key Pacific markets and the accretive contribution of recent acquisition KJ & Co Brands were the key contributors to this rebound in financial performance ■ ■ ■ Group anticipates that in 2H FY2022 there should be an acceleration in the recovery commenced in 1H FY2022 , however there are ongoing global supply chain challenges With improved Group performance coupled with a favourable outlook , SunRice today declared an interim dividend of 10 cents per B Class Share Estimated range for 2021 ( CY21 ) pool currently being processed and marketed has been updated to $ 405 to $ 435 per tonne for medium grain Reiziq Based on plantings , next Riverina rice crop ( to be harvested from March 2022 ) is expected to be in excess of 600,000 paddy tonnes SunRice made further progress on executing its Sustainability Strategy in 1H FY2022 , including climate scenario planning as part of commitment to adoption of Taskforce on Climate - related Financial Disclosures recommendations ■ Investor Conference Call to be held at 9.30am AEDT on Friday 17 December ( details below ) SunRice today released its Financial Results for the period ended 31 October 2021 ( 1H FY2022 ) with Group CEO , Mr Rob Gordon , commenting : " After successfully navigating one of the most difficult periods in our history , with the dual challenges of COVID - 19 and two consecutive years of extremely low Riverina production , I am pleased that we are now seeing a strong recovery in financial performance . " Despite the challenges of the past two years , we have continued to make investments in strategic and organic growth initiatives , and a number of these are now realising benefits . " We expect our recovery to accelerate throughout the remainder of FY2022 , but we continue to face a number of challenges - including unprecedented escalation in freight rates and shipping disruption due to COVID - 19 , and operational challenges in CopRice which could impact the scale of this recovery . " The 1H FY2022 Financial Results were driven by a range of factors : • • Sydney Office Recovery of the Australian Rice Pool Business , which is once again able to absorb its share of overhead costs as a consequence of the increased crop of 417,000 paddy tonnes harvested earlier in 2021. The larger rice crop underpinned the return of larger volumes of Australian rice to premium export markets across the Middle East and Asia in 1H FY2022 , in contrast with the past two years . Continued positive performance of the International Rice segment , reflecting the SunRice Group's multi - origin strategy and deep understanding of consumer preferences , enabling the Group to offer high - quality products for each of its brands at multiple price points . This Level 17 , Governor Macquarie Tower , 1 Farrer Place , Sydney | NSW 2000 PO Box Q166 QVB Post Shop | NSW 1230 T +61 ( 0 ) 2 9268 2000 | F +61 ( 0 ) 2 8916 8360 Registered Office 57 Yanco Avenue Leeton | NSW 2705 Locked Bag 2 Leeton | NSW 2705 T +61 ( 0 ) 2 6953 0411 | F +61 ( 0 ) 2 8916 8350 www.sunrice.com.au Ricegrowers Limited ABN 55 007 481 156 trading as SunRice