• Sale of 6,020 hectares and 48 megalitres of water entitlements
• Remaining 423 hectares and 1,463 megalitres of water to be retained
• Funds to be used for new investment opportunities, debt reduction, and shareholder distributions

Duxton Farms Ltd ('Duxton Farms' / 'Company') has announced the sale of the majority of its 'Kentucky' property to Alkira Farms Inc. on a vacant possession basis for AU$38 million. The transaction includes 6,020 hectares and 48 megalitres' worth of stock and domestic water entitlements, with the remaining 423 hectares and 1,463 megalitres of Jemalong Irrigation General Security surface water to be retained within the portfolio. The contract for sale has been successfully executed, and settlement is due to occur in the next two weeks. The Board believes this is a significant result for shareholders and demonstrates another step by the Company to pursue its stated investment strategy. Further information about the intended use of funds arising from the sale will be provided to the market in due course and may include investment in new and existing opportunities to further the Company's investment strategy, debt reduction, and payment of distributions to shareholders. The Board's strategic objective in respect of the Company's New South Wales aggregation is to increase the proportion of irrigable land and to provide a greater degree of control over its productive output, while allowing the Company to redeploy capital into diversification opportunities elsewhere and refining the activities of the Operations Team in New South Wales.

The Board believes this divestment is a significant milestone for Duxton Farms as it continues to execute on its strategy of reorienting the focus of the Company's investment strategy away from dryland cropping and towards a diversified mix of new development opportunities in Australian agriculture to build significant value by elevating and stabilising the Company's earnings profile in the long-term.