• 2025 crop size estimate of 24,700MT
• 2025 average crop price of A$10.14/kg - A$10.20/kg
• Net debt reduced to $80m and continued management of costs
• Positive outlook for bloom in 2026

Select Harvests Limited (the 'Company') today provides a business update. The 2025 crop has now been processed through the Company's Carina West Processing Facility, with an estimated final crop size of 24,700MT, which is within the forecast range but below the midpoint. Global almond prices have improved since the July USDA 2025 California Almond Objective Measurement Report, with the Company concluding inshell sales and strategically selling the remainder of the 2025 crop at an expected average price of A$10.14/kg - A$10.20/kg, approximately 1.5% below the mid-year forecast. The Company has delivered net debt of $80m and gearing at 15%, representing a 50% reduction in debt compared to the prior year. Operational cost control remains a key priority, with production costs held flat for the year. The Company's 2026 crop bloom is now complete, with overall tree health positive despite industry challenges with bee shortages and cross-border movement restrictions. While too early to provide a forecast, bloom strength was generally strong across the Company's portfolio, with improvements seen in some previously weaker areas.

The Company expects the 2025 average crop price to be in the range of A$10.14/kg - A$10.20/kg.

The Company remains committed to growing, processing and selling as efficiently as possible for the benefit of its shareholders. The macro-economic environment for almonds is expected to remain positive and continue in the coming years.