• Total olive oil production of 752,600 litres, up from 551,500 litres in 2024
• Quality of oil produced this year much improved over last year
• Extra virgin olive oil to be sold to Cobram Estate Limited under supply agreement

Australian Agricultural Projects Limited (ASX: AAP) has announced the results of its 2025 harvest, reporting a total olive oil production of 752,600 litres, up from 551,500 litres in 2024. This result is within the range of management's expectations, noting that a frost event in September last year had impacted overall production. The final result is comparable to the previous 'on-year' in 2023. Importantly, with the continued strong prices for locally produced extra virgin olive oil, this is likely to be the most valuable harvest in the history of the orchard. The total harvest is summarised across the Company's three projects: VOOP I (2002), VOOP II (2003), and Peppercorn (2006). Initial testing has indicated that the quality of the oil produced this year is much improved over last year, with the volume of oil not making the extra virgin olive oil (EVOO) standard noticeably reduced. Management will await the final test results of all oil before any sales are finalised. As with past years, the extra virgin olive oil produced will be sold to Cobram Estate Limited (ASX:CBO) under an olive oil supply agreement in support of the Redisland and Cobram Estate retail olive oil brands which are leading brands marketed in Australian supermarkets. Any non-EVOO oil produced will be separately marketed. The Company records its appreciation for the dedication and focus of the operations crew over what has been an extended harvest period.