NZ Rural Land Management Earnings Contribution Update

2 August 2021 announce@nzx.com New Zealand Rural Land Management Partnership Earnings Contribution Update Allied Farmers Limited ("Allied Farmers" NZX: ALF) is pleased to note the announcement today from New Zealand Rural Land Company Limited (NZL.NZX) that, subject to audit completion, a performance fee of $1.183 million has been calculated as payable to its manager, New Zealand Rural Land Management Limited Partnership (NZRLM) for the period ending 30 June 2021. In accordance with the management agreement the performance fee is to be satisfied in NZL shares at the 30 June 2021 - Net Asset Value (NAV) of $1.3351 per share. Allied Farmers confirms that, that the attributable earnings (including the performance fee) from NZRLM for FY21 will be approximately $1.1 million. The above figures are all subject to any final audit adjustments. Richard Perry Chair End CA:00376562 For:ALF Type:MKTUPDTE Time:2021-08-02 12:22:14