Sanford Limited – Continuous Disclosure

22 February 2017 NZX Announcement Long Term Incentive Plan Sanford has today extended its long term incentive plan (LTI Plan) for its Chief Executive Officer, Mr Volker Kuntzsch. Under the ongoing LTI Plan, Mr Kuntzsch will be granted performance share rights, subject to performance hurdles to be determined by the Board from time to time. Mr Kuntzsch must also remain employed with Sanford for three years. Each performance share right will give Mr Kuntzsch the right to one ordinary share in Sanford on exercise. On exercise, no consideration is payable by Mr Kuntzsch for each share in Sanford allotted to him. Mr Kuntzsch has agreed that following exercise of the performance share rights and for so long as he remains employed by Sanford, he will only sell a number of shares necessary to satisfy his tax obligations on exercise of the performance share rights. The Board has determined to make a grant of 38,525 performance share rights to Mr Kuntzsch for the 2017 year. Paul Norling Chairman End CA:00297219 For:SAN Type:GENERAL Time:2017-02-22 14:11:42