Announcement PDF Appendix4D HalfYearReport Ricegrowers Limited (ASX – SGLLV) ABN: 55 007 481 156 Financial Half-Year Ended: 31 October 2025 Lodgement Date: 18 December 2025 Lodged with the ASX under Listing Rule 4.2A. This information should be read in conjunction with the Annual Report for the year ended 30 April 2025 and any public announcements made by Ricegrowers Limited (“SunRice” or “Group”) since the start of the current financial year, in accordance with the continuous disclosure requirements of the Listing Rules of the Australian Securities Exchange. About SunRice’s structure The structure of Ricegrowers Limited (SunRice) contains non-standard elements, including its dual class share structure comprising A Class Shares and B Class Shares. A Class Shares confer on their holders the right to vote at general meetings but no right to dividends. A Class Shares are not quoted on the ASX and may only be held by rice growers who meet the production quotas prescribed by the SunRice constitution. No person may hold more than 5 A Class Shares. In practical terms the voting rights held by A Class Shareholders give those shareholders the right to control the election of directors and any changes to SunRice’s constitution. B Class Shares are quoted on the ASX and confer on their holders the right to receive dividends, as determined by the directors from time to time. Holders of B Class Shares do not generally have the right to vote at general meetings of SunRice. This means B Class Shareholders have no right to vote on the election of directors of SunRice. No person may hold more than 10% of the total number of B Class Shares on issue. For more details of the non-standard elements of SunRice’s structure see investors.sunrice.com.au. Reporting Period and Reported Information The current reporting period is the half-year ended 31 October 2025 (1H FY26) and the previous corresponding reporting period is the half-year ended 31 October 2024 (1H FY25). Results for Announcement to the Market Revenue from ordinary activities Down 3.1% to 884,238 Profit after tax Up 14.5% to 36,553 Profit after tax attributable to B Class shareholders Up 15.0% to 35,948 Current period Previous corresponding period Net tangible assets backing per B Class Share ($) 8.11 7.72 Basic earnings per B Class Share (cents) 53.4 47.2 Diluted earnings per B Class Share (cents) 53.3 46.6 Interim dividend Amount per security (cents per B Class Share) 20.0 15.0 Franked amount per security (100% franking rate applicable) (cents per B Class Share) 20.0 15.0 Date the dividend is payable Record date to determine entitlements to the dividend 23 January 2026 24 December 2025 Ricegrowers Limited’s Dividend Reinvestment Plan (DRP) is in operation for the interim dividend. Commentary on Results for The Period The SunRice Group delivered a solid performance in the first half of FY26 (1H FY26), achieving higher earnings than in the prior corresponding period (1H FY25) and continuing its plans for strategic growth, despite some pressures on the top line. Revenue was $884 million, slightly down from $912 million in 1H FY25, but Earnings Before Interest, Tax, Depreciation, Amortisation and Impairment (EBITDA) reached $71.3 million and Net Profit After Tax (NPAT) rose to $36.6 million - an increase of 5% and 14% respectively compared to 1H FY25. Top line growth in key strategic areas offset by challenges in Pacific markets and lower tender volumes Strong brand equity, product innovation and expanded distribution supported key strategic growth areas during 1H FY26, notably in the Middle East and US, and via the Toscano and SavourLife brands in Australia. Combined, revenue in these areas grew by ~$25 million compared to the prior corresponding period. These gains were offset by challenges in the Pacific markets (where the Group is now rebasing some of its business to improve profitability going forward); evolving consumer spending habits in certain product categories in ANZ; and a reduction in lower priority tender volumes (as the Group generally focuses on its higher value branded markets). Combined, the Pacific and tender market sales alone declined by close to $50 million compared to the prior corresponding period. Improving Group profit margin Overall profitability improved in 1H FY26, with the Group’s EBITDA margin growing from 7.4% in the prior corresponding period to 8.1%. This improvement was due to a range of factors, including the lower cost of US rice and a normalisation of global rice prices more broadly; a recovery in global government tender pricing; cost and operational efficiencies; and a more favourable business mix. Building on the positive momentum established in FY25, the 1H FY26 results were achieved despite the several headwinds previously identified in the Group’s FY26 Outlook, including foreign exchange pressures and intensified competition. Some up-front costs associated with executing the 2030 Growth Strategy were also incurred in the period, including increased spend in brand building and talent acquisition. In line with this investment, the SunRice Group advanced key strategic initiatives aimed at positioning the business for future growth. As in prior years, the first half results are not expected to reflect the proportional full year results of the Group, because the second half of the year is generally more positively influenced by seasonal factors and consumption habits during festive periods. Further details of the results of the Group for the period ended 31 October 2025 are included in the attached Interim Financial Report. Details of associates The SunRice Group has the following associates: Name of associate Rice Breeding Australia Limited (incorporated in Australia). Principal activity: Research into the delivery of new and improved rice varieties Reporting entity percentage holding Rice Breeding Australia Limited: 33.33% (31 October 2024: 33.33%) During the half-year, the Group disposed of its 30.44% interest in Pagini Transport (31 October 2024: 30.44%). Controlled Entities During the half-year, the Group established the SavourLife Foundation, with SavourLife IP Pty Ltd acting as trustee, to support animal welfare initiatives. There have been no other changes in controlled entities in the six months period to 31 October 2025. Other Information Required Please refer to the attached Interim Financial Report and the 2025 Annual Report for other information required. Interim Financial Report FOR THE HALF YEAR ENDED 31 OCTOBER 2025 2 0 2 5 I N T E R I M F I N A N C I A L R E P O R T – S U N R I C E G R O U P 2 Interim Financial Report For The Half Year Ended 31 October 2025 Ricegrowers Limited & Controlled Entities ABN 55 007 481 156 This interim financial report covers the consolidated entity consisting of Ricegrowers Limited and its controlled entities. The interim financial report is presented in Australian dollars. Ricegrowers Limited is a company limited by shares, incorporated and domiciled in Australia. Its registered office and principal place of business is: Ricegrowers Limited 57 Yanco Avenue LEETON NSW 2705 Its shares are listed on the Australian Securities Exchange (code SGLLV). CONTENTS Directors’ Report 3 Auditor’s Independence Declaration 10 Consolidated Interim Financial Report Consolidated Income Statement 11 Consolidated Statement of Comprehensive Income 11 Consolidated Balance Sheet 12 Consolidated Statement of Changes in Equity 13 Consolidated Cash Flow Statement 14 Notes to the Consolidated Financial Statements 15 Directors’ Declaration 23 Independent Auditor’s Review Report 24 2 0 2 5 I N T E R I M F I N A N C I A L R E P O R T – S U N R I C E G R O U P 3 Directors’ Report Your Directors present their report on the consolidated entity consisting of Ricegrowers Limited and the entities it controlled at the end of, or during the half year ended 31 October 2025. 1. Directors The following persons were Directors of Ricegrowers Limited during the financial period and up to the date of this report: J Bradford (appointed as Chairman on 4 September 2025) P Serra (Chief Executive Officer) L Catanzaro A Crane M De Bortoli I Glasson I Mason J Zanatta R Kelly (appointed on 4 September 2025) L Arthur (retired on 4 September 2025) 2. Company Secretary K Cooper * Revenue attributable to the Australian Rice Pool Business is derived from the sale of Australian sourced rice directly out of the Australian Rice Pool Business to either domestic or international customers. This revenue contributes to the Paddy Price paid to Riverina rice growers (A Class Shareholders). Revenue attributable to the Profit Businesses is derived from all other sources. 3. Review of operations The SunRice Group overview The SunRice Group delivered a solid performance in the first half of FY26 (1H FY26), achieving higher earnings than in the prior corresponding period (1H FY25) and continuing its plans for strategic growth, despite some pressures on the top line. Revenue was $884 million, slightly down from $912 million in 1H FY25, but Earnings Before Interest, Tax, Depreciation, Amortisation and Impairment (EBITDA1 ) reached $71.3 million and Net Profit After Tax (NPAT) rose to $36.6 million - an increase of 5% and 14% respectively compared to 1H FY25. Total Shareholder Return (TSR2 ) for 1H FY26 stood at 63.3%, compared with the ASX 300 Accumulation Index TSR of 11.4%. SunRice was also selected for inclusion in the ASX 300 Index by S&P Dow Jones in 1H FY26, marking a significant milestone since the company’s ASX listing. Top line growth in key strategic areas offset by challenges in Pacific markets and lower tender volumes Strong brand equity, product innovation and expanded distribution supported key strategic growth areas during 1H FY26, notably in the Middle East and US, and via the Toscano and SavourLife brands in Australia. Combined, revenue in these areas grew by ~$25 million compared to the prior corresponding period. 1 EBITDA includes $14,331,000 (1H FY25: $13,551,000) of brand and asset financing charges earned from the Australian Rice Pool Business 2 Investment period COB 30 April to COB 31 October 2025, TSR considers movement in B Class Share price and dividends paid, and assumes all dividends are reinvested on the dividend payment date. Group Group October 2025 October 2024 $000's $000's Revenue attributable to the Australian Rice Pool Business* 236,007 223,503 6% Revenue attributable to Profit Businesses* 646,335 687,168 -6% Other revenue 1,896 1,797 6% Total Group Revenue 884,238 912,468 -3% EBITDA 71,284 67,883 5% EBITDA Margin 8.1% 7.4% 62bps NPAT 36,553 31,925 14% Movement 2 0 2 5 I N T E R I M F I N A N C I A L R E P O R T – S U N R I C E G R O U P 4 These gains were offset by challenges in the Pacific markets (where the Group is now rebasing some of its business to improve profitability going forward); evolving consumer spending habits in certain product categories in ANZ; and a reduction in lower priority tender volumes (as the Group generally focuses on its higher value branded markets). Combined, the Pacific and tender market sales alone declined by close to $50 million compared to the prior corresponding period. Improving Group profit margin Overall profitability improved in 1H FY26, with the Group’s EBITDA margin growing from 7.4% in the prior corresponding period to 8.1%. This improvement was due to a range of factors, including the lower cost of US rice and a normalisation of global rice prices more broadly; a recovery in global government tender pricing; cost and operational efficiencies; and a more favourable business mix. Building on the positive momentum established in FY25, the 1H FY26 results were achieved despite the several headwinds previously identified in the Group’s FY26 Outlook, including foreign exchange pressures and intensified competition. Some up-front costs associated with executing the 2030 Growth Strategy were also incurred in the period, including increased spend in brand building and talent acquisition. In line with this investment, the SunRice Group advanced key strategic initiatives aimed at positioning the business for future growth. Interim dividend and updated Paddy Price range The Group announced an interim dividend of 20 cents per B Class Share and also updated the CY25 Paddy Price range for Riverina rice growers from $380–$450 to $385–$420 per tonne for medium grain rice. Segment performance drivers Effective 1 May 2025, the Group transitioned to a new divisional structure and reshaped its Corporate Management Team to align with strategic priorities and market proximity. As a result of this internal change, the reportable segments have been reviewed and updated. A description of each of the new segment’s activities is included in Note 2a of this interim financial report. Consumer Packaged Goods International Revenue growth in the International Consumer Packaged Goods segment was delivered in key strategic areas in 1H FY26 and while revenue and EBITDA were down overall on the prior corresponding period (primarily due to challenges in the Pacific), the segment was still able to maintain strong profit margins. Key favourable factors contributing to the overall results included: • Investment in the Middle East via the successful introduction of a premium Sunwhite Basmati range driving sales, and the appointment of new distributors to increase go-to-market capabilities; • Category share gains in the US, with expanded distribution of Hinode branded Microwave Cups and Core Rice on the West Coast and Hawaii; • The lower cost of US rice and the broader normalisation of global rice prices following the lifting of the Indian Government’s export ban on non-Basmati varieties mid last year; and • Freight, supply chain and other cost and efficiency improvements. The International Consumer Packaged Goods segment’s results were however hampered by a number of factors, such as: • Temporary impacts to PNG volumes due to a legislative change in the application of GST, which caused significant disruption in the local rice market at the outset of 1H FY26. Sales have since progressively been recovering across the first half but will likely take the full year to completely rebalance; • Intensified competition across Pacific markets, resulting in lower activity and additional discounting more broadly to maintain competitiveness given consumer price sensitivity in these markets. In this highly competitive environment, the Group is currently in the process of rebasing some of its Pacific business to a more profitable base in the future; • Foreign exchange pressures, including the ongoing devaluation of the PGK against the USD, which continued to impact the cost of imported products into PNG; and • The impact of some up-front costs associated with executing the 2030 Growth Strategy, in particular increased advertising and promotional investment in the Middle East and an expanded employee base to support the Group’s growth ambitions in this region. Half Year Half Year October 2025 October 2024 $000's $000's Europe, Middle East and Africa 122,285 113,658 8% Pacific & Asia 186,723 225,225 -17% North America 46,120 42,090 10% Total Revenue 355,128 380,973 -7% EBITDA 36,477 40,582 -10% EBITDA Margin 10.3% 10.7% -38bps NPBT 27,267 31,434 -13% Movement 2 0 2 5 I N T E R I M F I N A N C I A L R E P O R T – S U N R I C E G R O U P 5 Consumer Packaged Goods Australia & New Zealand While slightly down at the bottom line compared to the previous comparative period, the ANZ Consumer Packaged Goods segment delivered a solid performance in 1H FY26, as it focused on flagship brands and restructured to better position for future growth. Key factors contributing favourably to overall results included: • Continued growth in ANZ bakery, driven by strong performance of the Toscano brand, supported by a range expansion in Italian flatbreads, seasoned brioche burger buns and desserts and various marketing initiatives growing consumer awareness; and • Brand strength of SavourLife, with its mission and product offering continuing to resonate with consumers, and which contributed its first full six months in 1H FY26, following its acquisition in August 2024. The ANZ Consumer Packaged Goods segment however faced a number of challenges during 1H FY26, which included: • Intensified competition across some categories, fuelled by evolving spending habits as consumers shift towards lower priced offering in areas such as Rice, Microwave Rice and Condiments. The broader Pet sector also displayed early indications of a slowdown in 1H FY26; • Temporary supply constraints as new packing equipment was commissioned at the beginning of the year in our Leeton manufacturing operations, and operational challenges (which have since largely been addressed) were faced in our equine feed manufacturing plant; • Continued foreign exchange pressures, with the ongoing weakness of the AUD against the USD and EUR continuing to elevate the cost of imported products in Australia. While cost savings and pricing initiatives are being implemented to help offset these impacts where possible, their benefits are not expected to be fully realised until the end of the financial year; and • Upfront costs associated with the execution of the 2030 Growth Strategy. Notably, the ‘SunRice Baby!’ marketing campaign was launched to stimulate rice consumption across all categories in ANZ, further positioning SunRice as a premium offering distinct from lower-priced alternatives. The Group also launched the ‘Together, We Eat’ campaign designed to reinforce Toscano’s growing position in the bakery category and ramped up investment across our various commercial and enabling strategies, with a focus on talent acquisition. Bulk Rice and Animal Feed The Bulk Rice and Animal Feed segment achieved a marked improvement in profitability in 1H FY26. This was primarily supported by: • Growth in Animal Feed through the onboarding of new customers and increased demand for supplementary feed in Australia and New Zealand; • A progressive recovery in global rice tender prices; and • The lower cost of US rice coupled with a more favourable rice sourcing mix. Significantly, this segment’s gains were delivered despite an overall reduction in global rice tender volume. Although this was partly due to the timing of tenders and in some cases the lower mill out rates of the Australian crop restricting the ability to trade as planned, it also reflects the Group’s focus on driving sales in higher margin branded activities in line with the 2030 Growth Strategy. Corporate The Corporate segment’s improved performance in 1H FY26 was primarily due to one-off proceeds from the divestment of the Group’s equity-accounted investment and the timing of some of the corporate costs incurred in both periods. October 2025 October 2024 $000's $000's Rice 116,918 119,454 -2% Rice Foods & Ingredients 61,377 62,560 -2% Bakery 47,058 41,856 12% Condiments 32,775 33,345 -2% Pet & Equine 76,317 75,248 1% Other categories 40,160 42,087 -5% Total Revenue 374,605 374,550 0% EBITDA 32,092 33,101 -3% EBITDA Margin 8.6% 8.8% -27bps NPBT 22,712 23,818 -5% Movement October 2025 October 2024 $000's $000's Rice 94,606 103,995 -9% Animal Feed 58,003 51,153 13% Total Revenue 152,609 155,148 -2% EBITDA 8,427 2,764 205% EBITDA Margin 5.5% 1.8% 374bps NPBT 5,362 (130) - Movement Half Year Half Year October 2025 October 2024 $000's $000's EBITDA (5,712) (8,564) -33% NPBT (8,168) (10,691) -24% Movement 2 0 2 5 I N T E R I M F I N A N C I A L R E P O R T – S U N R I C E G R O U P 6 Other operating income and expenses Other notable changes in the Group’s consolidated income statement for 1H FY26 include: • An increase in employee benefits expenses driven by a combination of factors including, additional investment in people aligned with the Group’s 2030 Growth Strategy and newly launched divisional structure; additional costs associated with the challenging mill out rates of the CY24 and CY25 Australian crops requiring the mills to slow down and run on extended shift structures; and increased production at the Deniliquin Mill during the commissioning phase of the recently completed ~$15 million upgrade of the Group’s Leeton manufacturing operations; • An increase in advertising and promotional expenditure as the Group invests heavily in brand building in key markets to drive awareness and increase consumption; • An increase in freight and distribution costs despite generally lower international shipping rates than in the prior corresponding period, due to adjustments to production and logistics plans associated with the lower mill out rates of the Australian crop and the upgrade of our Leeton manufacturing operations. Effective tax rate The Group’s effective tax rate for 1H FY26 was 23%, compared with 28% for 1H FY25. This rate continues to reflect the blended nature of the Group’s local and international operations and was influenced in the current period by the favourable impact the recent increase in the B Class Share price had on the tax deduction mechanisms available under the Employee Share Plan in Australia. Operating, investing and financing cash flows The Group continued to exercise financial discipline during 1H FY26 and to proactively manage its net working capital requirements. Operating cash inflows of $80.2 million in 1H FY26 (1H FY25: $96.4 million) were largely driven by the strong EBITDA generated during the period and a reduction in the Net Working Capital balance compared with 30 April 2025. The lower inflows in 1H FY26 were primarily driven by a lower reduction in net working capital in the six month period to 31 October 2025 compared to the six month period to 31 October 2024. 3 Net Debt equals current plus non-current borrowings less cash and cash equivalents. 4 Gearing equals net debt divided by net debt plus equity. 5 Net Working Capital equals receivables plus inventories less current payables less amounts payable to Riverina rice growers less current tax liabilities (net of current tax receivables) less current provisions. Investing cash outflows in 1H FY26 were $14.1 million (1H FY25: $37.4 million) and were largely driven by a mix of capital expenditure to maintain core assets and strategic capital expenditure to upgrade the Group’s Leeton manufacturing operations. The lower amount than in 1H FY25 was due partly to the offsetting proceeds received through the divestment of the Group’s equity accounted investment in the current period and amounts paid as part of the acquisitions of Simply Delish and SavourLife in the prior corresponding period. Financing cash outflows were $94.1 million in 1H FY26 compared to $49.4 million in 1H FY25. The higher amount in the current period is primarily due to cash generated during the year (and saved as part of the FY25 final dividend DRP underwriting process) being directed to debt repayment, while the prior period included borrowings drawn down to finance the acquisitions of Simply Delish and SavourLife. Balance sheet items Net Debt3 of $169.0 million and gearing4 of 20% as at 31 October 2025 both decreased from $218.2 million and 26% respectively as at 30 April 2025. This improvement reflects the strong EBITDA generated during 1H FY26 and the decrease in Net Working Capital5 from $452.4 million as at 30 April 2025 to $420.2 million as at 31 October 2025. This decrease in Net Working Capital has been largely driven by a general improvement in the timing of cash collection across the Group’s largest markets during 1H FY26. The Group’s leverage ratio6 and Return on Capital Employed7 (ROCE) were 1.1x and 14.4% as at 31 October 2025 respectively, compared to 1.5x and 13.6% as at 30 April 2025. The improvement in these metrics also aligns with the strong EBITDA generated during 1H FY26 and the reduction in Net Debt. As at 31 October 2025, all remaining debt drawn down on the Group’s Seasonal facility related to Net Working Capital funding, with this Net Working Capital being primarily made up of near-term marketable inventory for our captured markets. Notably, no amounts were drawn down on the Group’s Core facility as at 31 October 2025. Other notable changes in the Group’s consolidated balance sheet as at 31 October 2025 include: • Corresponding decreases in inventories and amounts payable to Riverina rice growers, which align with the business’ seasonality, whereby these balances peak at harvest time around April each year; and 6 Leverage ratio equals net debt divided by EBITDA over the last 12 months. 7 Return on Capital Employed (ROCE) equals EBIT divided by Capital Employed where EBIT is Earnings Before Interest and Tax over the last 12 months and Capital Employed is total assets (less cash) less total liabilities (less current and non-current borrowings). 2 0 2 5 I N T E R I M F I N A N C I A L R E P O R T – S U N R I C E G R O U P 7 • A decrease in receivables balances largely driven by the aforementioned improvement in the timing of cash collection across the Group’s largest markets during 1H FY26. Banking facilities and covenants Core and seasonal debt facilities remained unchanged during 1H FY26. The Group maintains sufficient headroom to meet the covenants on its existing borrowings, and sufficient working capital and undrawn financing facilities to service its planned operating activities and fund some potential acquisition activity. Capital management and interim dividend The Group continues to maintain a responsible approach to its investment, divestment, and corporate development strategy to acquire value-accretive businesses and monetise non-core assets (which in 1H FY26 delivered ~$1.5 million in incremental Group profit). The SunRice Group continues to explore a well-developed pipeline of potential strategic merger and acquisition opportunities. Delivering consistency and quality of earnings and value to shareholders remains a focus, and the Group declared a fully franked interim dividend of 20 cents per B Class Share on 18 December 2025. Seasonality As in prior years, the first half results are not expected to reflect the proportional full year results of the Group, because the second half of the year is generally more positively influenced by seasonal factors and consumption habits during festive periods. Risk management The Group continued to review and monitor its exposure to the various risks detailed in the FY25 Annual Report. As at 31 October 2025, no new or significant changes to existing risks that could impact the financial performance or position of the Group were identified. Progress against Strategy The 2030 Growth Strategy continued to guide the Group’s actions in 1H FY26, as initiatives were progressed to help transform the company and deliver its long-term ambitions. Progress for the half in the Group’s Core Rice Commercial Strategies included: • Meaningfully grow our ANZ rice business: o Launch of new products, including rice noodles and “one pan” risotto; o Significant investment in advertising and promotional activities with the launch of the ‘SunRice Baby’ campaign to drive rice consumption; and o Continued innovation in proprietary food technology to bring to market differentiated offering in segments particularly challenged by competition. • Significantly expand our Middle East business: o Continued growth following the successful launch of the premium Sunwhite Basmati range; o New distributor agreements and investment in talent to support growth ambitions; and o Exploration of inorganic growth opportunities through strategic partnerships and acquisitions. • Deepen our position in the US: o Development of innovative products in the ready to heat rice category set for launch in 2026, alongside further innovations aimed at driving growth across this key region; and o Exploration of corporate development opportunities. • Maintain a long-term viable Australian rice industry: o Introduction of new contract pricing for Riverina rice growers, offering flexibility and new terms following the end of rice vesting in NSW; o Aligned pricing for CY26 (FY27) to quality scores to help secure high quality supply; and o Secured $1.8 million through the Climate-Smart Agriculture Program – Round 2 to help strengthen the long-term sustainability and productivity of the Australian rice industry. The funding will support increased awareness, knowledge and skills of rice growers in the Murray-Darling Basin on climate-smart sustainable agriculture, strengthening efforts to improve water efficiency, build soil health and support natural capital and biodiversity. Progress for the half in the Group’s Adjacent Portfolio Commercial Strategies included: • Drive our non-rice portfolio to its potential: o Range expansion in ANZ bakery through Toscano, including new product development in Italian flatbreads, seasoned brioche burger buns and desserts; o Significant investment in advertising and promotional activities, with the launch of Toscano’s ‘Together, We Eat’ campaign, including partnerships with major retailers to drive brand awareness and support sales growth; 2 0 2 5 I N T E R I M F I N A N C I A L R E P O R T – S U N R I C E G R O U P 8 o Launch of the new “Adopt-A-Cat” website during the first half as the Group looks to expand the SavourLife brand into the Cat food market in the near future; and o Cost savings to offset inflation from foreign exchange pressures. Progress for the first half in the Group’s Enabling Strategies included: • Unleash our talent potential: o Divisional restructure, and expansion of the Group’s teams to support the execution of the 2030 Growth Strategy and position the company for growth. • Unlock operational efficiencies: o Commissioning of the ~$15 million upgrade of our Leeton manufacturing facilities, paving the path for productivity gains. • Invest for the future: o Ongoing exploration of partnership arrangements and other merger and acquisition opportunities aligned to the Gro