SHV - FY2025 Appendix 4E and Annual Report

• Net Profit After Tax of $31.8 million, a $30.9 million improvement on prior year
• Gearing reduced to 15.1% with net debt halved compared to FY2024
• Awarded Regional Exporter of the Year in the Governor of Victoria Export Awards 2025

Select Harvests Limited has announced its financial results for the year ended 30 September 2025. The company recorded a net profit after tax (NPAT) of $31.8 million, marking an improvement of $30.9 million on the prior year. This profit result was driven by the company's focus on its key strategic pillars: substantially greater almond volumes, leadership in processing scale and efficiency, and maximizing the return from the crop. The company's balance sheet has also significantly improved, with net debt halving (compared to FY2024) to $79.1 million, resulting in a gearing level of 15.1%. This financial strength will support the business to be resilient to the inevitable cycles in agriculture. The company was also awarded the Regional Exporter of the Year in the Governor of Victoria Export Awards 2025, reflecting the substantial progress made in all aspects of the business and increased service levels to customers around the world. While the company's horticulture operations were impacted by weather variability, leading to a lower crop in 2025, the company continues to invest in improving yield and quality. The Carina West Processing Facility has performed well, with the next phase of capacity expansion nearing completion. The company's sales program has also been successfully delivered, maximizing the price captured for its almond products.

The company delivered an almond crop of 24,903MT in FY2025, with value-add sales of 5,952MT. Almond production costs were $7.82/kg, and the average Select Harvest almond price was $10.18/kg. The company generated operating cash flow of $118.6 million.