Commencement of Share Buy Back

• Duxton Farms to commence on-market share buyback program
• Buyback aims to support liquidity and enhance shareholder value
• Current share price trading below long-term prospects

Duxton Farms Limited (the Company) has announced that it will commence an on-market share buyback program. The Company has operated a similar buyback program for most of its history as a listed business. The Board believes the buyback represents a prudent investment, as the current share price is trading well below a level that the Directors believe reflects the Company's long-term economic prospects. The Board considers the buyback program to be in the interests of all existing shareholders. Under the Corporations Act, the Company can buy back up to 10% of its issued capital in any 12-month period without shareholder approval. However, the Board advises that there is no certainty the Company will acquire 100% of the shares available for purchase under the buyback program. Duxton Farms has appointed Shaw and Partners Limited to act as its broker for the buyback. The Board would like to thank shareholders for their continued support.