Closure of Tauranga Fish Processing Plant

17 August 2020 NZX Continuous Disclosure Sanford Confirms Closure of Tauranga Fish Processing Plant with the loss of 66 Jobs New Zealand seafood company Sanford Limited (NZX: SAN) has confirmed the closure of its Tauranga fish processing plant with the loss of 66 jobs. The company has confirmed the decision after reviewing feedback from those affected. The closure has been driven largely by two factors, firstly the impact of COVID-19 has meant Sanford is processing less fish caught by other companies, which has seen processing volumes for its North Island sites reduce, and secondly the buildings at the plant do not meet new seismic strength requirements. Chief Operating Officer Clement Chia reiterated that even if processing volumes eventually return to pre-COVID levels, the seismic issues with the buildings and surrounding area mean it is not viable to continue at the Tauranga site. "We are very sorry to impact our staff and their families at such a difficult time, particularly when we have seen the re-emergence of community transmission of COVID-19 in New Zealand with all the uncertainty this brings. This has been a very difficult decision for us to make, but one we feel is best to secure our future operations in the North Island. We will ensure that those affected by this change will have the best support to find alternative employment elsewhere in the Sanford business and we will be working with local businesses to find local opportunities also." Sanford Chief Executive Volker Kuntzsch says Sanford has confirmed that some operations in Tauranga will continue. "Landing and unloading will continue at the Tauranga site. We are pleased to still have a presence in Tauranga, which has been an important base for us. However, we are sorry to say goodbye to many of our team, including several who have worked for Sanford for three or more decades. We do have a great team to support them find other opportunities as soon as possible." For more information please contact: Katherine Turner Chief Financial Officer, Sanford kturner@sanford.co.nz 021 470 436 End CA:00358086 For:SAN Type:GENERAL Time:2020-08-17 11:05:39