Announcement PDF Corporate Governance Statement 2026 SunRice FY26 governance highlights During FY26, the Board’s governance activities included: • Successfully transitioning Board leadership, following the retirement of the prior Chair and the appointment of John Bradford as the new Chair with effect from 4 September 2025; • Commencing an internal Board Review and overseeing the progression of actions arising from the FY25 externally facilitated Board Review, including those relating to succession planning; • Overseeing the review of the Board’s Skills Matrix; • Reviewing and updating a number of key governance policies, including the Speak Up Policy, the Anti-Bribery and Corruption Policy, the Conflict of Interest Policy, the Rice Marketing Act Policy and the Diversity, Equity and Inclusion Policy; • Overseeing the SunRice Group’s progress towards incoming mandatory climate-related reporting requirements and completing reviews of the Board Charter, the Safety, Health and Sustainability Committee Charter and the Finance, Risk and Audit Committee Charter to refine climate-related roles and responsibilities; • As disclosed in last year’s Annual Report, continuing to conduct, as part of the broader strategic review, a review of the Non- Standard Elements of the company’s share capital structure; • Approving new Diversity Equity and Inclusion targets; • Board education sessions on human rights, competition law, directors’ duties, climate, safety and wellbeing and sustainability and climate reporting; and • Arranging Director visits to potential supply sources in South America, our Trukai (PNG) rice processing facility and research farm, our SunFoods operations in California, our Ricegrowers Vietnam operations, our manufacturing facilities located at Gunnedah, Heidelberg and Wangaratta, our Rice Research farm in the Riverina, and operational sites and Grower meetings in the Riverina. Our purpose, vision and values Corporate governance is of vital importance to the company and is undertaken with due regard to the company’s stakeholders. We are committed to providing our stakeholders with credible, transparent and timely information as we seek to create and sustain value in all we do. This is supported by the SunRice Group’s values, which inform our decisions from the top down and underpin our corporate culture. Our Values are set out below: Integrity We do what is right Collaboration We deliver together Innovation We strive to be better every day Community We show enduring care Corporate Governance at SunRice This Corporate Governance Statement summarises Ricegrowers Limited’s (“we”, “SunRice” or “the company”) main corporate governance policies and outlines the extent to which the company’s corporate governance policies and practices are consistent with the fourth edition of the Corporate Governance Principles and Recommendations published by the ASX Corporate Governance Council (ASX Recommendations). Consistent with prior years, the Board does not consider that all of the ASX Recommendations are appropriate for the company given the related provisions in our Constitution regarding Board composition and shareholding requirements. SunRice has followed all of the ASX Recommendations during the financial year ended 30 April 2026 (reporting period), unless stated otherwise. Copies of policies referred to in this Corporate Governance Statement and Board and Committee charters are available in the Corporate Governance section of the company’s website at investors.sunrice.com.au/corporate-governance. This Corporate Governance Statement is current as at 30 April 2026 and has been approved by the Board. 2 SunRice Group Corporate Governance 2026 The SunRice Board is committed to ensuring the Group’s corporate governance frameworks, policies and practices are of the highest standard. This commitment is delivered through continuous improvement and ensuring the Board has a sound understanding of current governance requirements and practices, as well as keeping abreast of emerging trends and changing stakeholder expectations. A) The Board and Corporate Management Team The Board is responsible for the governance of the company and oversees its operational and financial performance. The Board retains ultimate responsibility for the strategy, risk appetite and performance of the Group and has delegated responsibility for day-to-day management and implementation of the Board approved strategy and risk management policies to the CEO, supported by the Corporate Management Team. B) The Board SunRice’s current Directors are set out on page 6. The names, qualifications, tenure and experience of all Board and Committee members and their attendance at Board and Committee meetings are included in the 2026 Annual Report on page 64. The Board composition requirements in the Constitution mean that a majority of the Board is not independent as recommended by ASX Recommendation 2.4. The Board is comprised of Grower Directors (non-independent), Non-executive Directors (independent) and the Managing Director (the CEO) who together discharge the Board’s oversight role. Director independence is discussed on page 8. SunRice has written agreements with all Directors setting out the key terms of their appointment. The Board has adopted formal written charters detailing the roles and responsibilities of the Board (including the matters expressly reserved to the Board) and each Committee, and management (through the CEO), to ensure these roles are clearly defined, separated and enable an effective process of evaluation. Leadership and Oversight C) Standing Board Committees The Board has established six Committees and has delegated to each Committee duties to assist the Board in exercising its responsibilities and discharging its duties. The Finance, Risk and Audit Committee is chaired by an independent Director and is comprised of a majority of independent Directors. The Nomination Committee did not comply with ASX Recommendation 2.1 for part of the reporting period, as the committee did not comprise a majority of independent directors. Following a change to the composition of the committee in September 2025, the Committee now comprises a majority of independent directors. Recommendation 2.1 also recommends that a nomination committee is chaired by an independent director. The Board believes that having a Grower Director Chair of this committee is appropriate given the overall Board composition, and that the Chair is discharging his role effectively and brings valuable experience to that role. Similarly, the People and Remuneration Committee did not comply with ASX Recommendation 8.1 for part of the reporting period, as the committee did not comprise a majority of independent directors. Following a change to the composition of the committee in September 2025, the Committee now comprises a majority of independent directors and is compliant with the recommendation. The Independent Committee is comprised of the Independent Non- Grower Directors and the CEO. It meets as required to address matters impacting A Class Shareholders where Grower Directors may be conflicted, including all A Class Share applications and redemptions. Each Committee regularly reports to the Board on all matters relevant to the Committee’s roles and responsibilities and to ensure cross- committee information sharing. Board members also have access to the minutes of Committee meetings. The number of times each Committee met during FY26 is set out on page 64 of the 2026 Annual Report. The members of each committee (Composition of Board Committees) and the role of each Committee is set out on the following pages. Each Committee has a separate charter that sets out the conduct, objectives and proceedings of that Committee, as well as the membership and any other requirements for the running of the Committee. More information about the Committees can be found in their charters. An overview of the roles and responsibilities of the Committees is set out on page 5. Board: The Board has formally delegated certain functions to Board Committees and to management via Board and Committee charters. CEO: The Board has delegated running the day-to-day affairs of the company and implementing the policies and strategy set by the Board to the CEO. The CEO has delegated certain responsibilities to the Corporate Management Team. Delegation Delegation Accountability Accountability Finance, Risk and Audit Committee Nomination Committee People and Remuneration Committee Safety, Health and Sustainability Committee Grower Services Committee Independent Committee Delegation Board Delegation and Accountability 3 SunRice Group Corporate Governance 2026 Composition of Board Committees as at 30 April 2026 Director Status Finance, Risk and Audit Committee People and Remuneration Committee Nomination Committee Safety, Health and Sustainability Committee Grower Services Committee Independent Committee1 John Bradford Chair and Non-executive Grower2 • Chair Paul Serra Chief Executive Officer and Managing Director • Luisa Catanzaro Non-executive Non-Grower Chair • • • Dr Andrew Crane Non-executive Non-Grower • • • Chair • Melissa De Bortoli Non-executive Grower • • • Ian Glasson Non-executive Non-Grower • Chair • Rachel Kelly Non-executive Grower • • • Ian Mason Non-executive Grower • • Julian Zanatta Non-executive Grower • • Chair Leadership and Oversight D) The Chair The Chair of the Board, Mr John Bradford, is a Non-executive Director and a resident Australian citizen. The Chair is responsible for leading the Board and managing the Board’s functions and performance in accordance with the Board Charter. The Chair’s responsibilities are set out in more detail in the Board Charter. While the Chair is a Grower and not an independent Director as recommended by ASX Recommendation 2.5, the Board considers that the Chair is discharging his role effectively and provides valuable expertise and experience as Chair.2 E) The CEO The CEO, Mr Paul Serra, is responsible for the day-to-day management and implementation of Board approved strategy and risk management policies. The CEO, through delegations of authority and effective reporting to the Board, is accountable to the Board. Further details on the role of the CEO are provided in the Board Charter. F) Corporate Management Team Members of the Corporate Management Team support the CEO in managing the company through delegations of authority from the CEO. The company undertakes appropriate background checks before appointing a person as a member of the Corporate Management Team. G) Company Secretary The Company Secretary is appointed and removed by the Board and reports to and is accountable to the Board, through the Chair, on all matters to do with the proper functioning of the Board and Board Committees. Further details on the Company Secretary are provided on pages 62 and 65 of our 2026 Annual Report. 1. The Chair of this Committee rotates each meeting. 2. Mr John Bradford was appointed as the new Chair of the Board with effect from 4 September 2025. 4 SunRice Group Corporate Governance 2026 Finance, Risk and Audit Committee • Monitoring the Group’s Risk Appetite, risk management framework (including the Group tax risk management framework) and any material exposures regarding environmental, climate change and social risks and how those risks are, or will be, managed. • Monitoring the adequacy of the processes in place to verify the integrity of any periodic report that is released on ASX and not audited or reviewed by the external auditor. • Receiving regular updates from management about compliance matters that may have a material impact on the company. • Reviewing the Annual Operating and Capital Budgets (including key assumptions) and providing recommendations to the Board. • Monitoring, making recommendations to, and reporting to the Board on, material new and emerging financial and non- financial risks relevant to SunRice (including climate-related risks), including consideration of emerging trends and the controls and mitigation measures in place. People and Remuneration Committee • Reviewing and recommending to the Board for approval the Group’s remuneration strategy and framework and remuneration policies for Non-executive Directors (NEDs), the CEO and senior executives. • Reviewing and monitoring people policy and key people metrics across the Group, including organisational culture, employee engagement, talent management and diversity and inclusion strategies (including progress against measurable diversity objectives). • Overseeing and reviewing the succession plan for the CEO and the CEO’s direct reports. Committee Roles and Responsibilities Nomination Committee • Developing and applying the selection and performance criteria to election and re-election of NEDs having regard to the mix of skills, experience, diversity and other attributes of (other) existing NEDs and how the candidate balances and complements existing NEDs. • Overseeing the process for evaluation of the Board, Board Committees and individual NEDs, including the Board’s and Committees’ performance relative to its charter. • Reviewing and recommending to the Board matters relating to Board and Committee composition and succession planning (including the Board Skills Matrix), and overseeing NED induction, education and development, independence and Board diversity. Safety, Health and Sustainability Committee • Providing oversight and guidance to Management on, and monitoring, the SunRice Group’s Sustainability Strategy, including its effectiveness in addressing material topics identified by stakeholders and delivering on the Group Sustainability Policy and Board-approved targets. • Ensuring that the Board exercises due diligence in supporting the commitment of SunRice Group to meet its obligations under all applicable work, health and safety and environmental legislation. • Reviewing the effectiveness of SunRice’s policies, programs and initiatives designed to ensure compliance with environmental reporting requirements and other applicable legislative and regulatory obligations, environmental sustainability and the minimisation of the company’s impact on the environment. • Monitoring SunRice’s activities to ensure they are directed towards developing a diversified and resilient supply chain and increasing traceability within Australian and international supply chains. • Monitoring sustainability governance and the systems and processes supporting compliance with sustainability reporting requirements (other than those overseen by the Finance, Risk and Audit Committee), and providing oversight and guidance on sustainability disclosures and reporting, including input to the Finance, Risk and Audit Committee on mandatory sustainability reporting. • Overseeing and reporting to the Board on the Group’s climate- related opportunities and progress against sustainability targets, commitments and transition plans. • Overseeing the Group’s HWSE management system and culture, including WHS compliance, psychosocial risks and HWSE performance (lead/lag indicators) and the effectiveness of risk management and improvement initiatives. Grower Services Committee • Ensuring the development, implementation and continuous improvement of policies and procedures that relate to on-farm production of rice, harvest management and provision of payments and services to growers. Independent Committee • Providing independent oversight and advice to assist the Board in managing actual or perceived material conflicts of interest involving Grower Directors, including by considering and making recommendations on matters where such conflicts may arise. • Making recommendations to the Board on key grower related commercial settings and related decisions where Grower Director conflicts may arise, including the approach to paddy pricing and payment options and any related arrangements impacting grower outcomes. • Undertaking annual reviews and making recommendations to the Board on the issue, redemption or deferral of redemption of A Class Shares in accordance with applicable criteria and policies. 5 SunRice Group Corporate Governance 2026 SunRice Directors John Bradford Chair, Non-executive Director, Grower Appointed in 2015 Status: Non-independent Paul Serra Group Chief Executive Officer and Managing Director, Non-Grower Appointed in 2023 Status: Non-independent (Executive) Luisa Catanzaro Non-executive Director, Non-Grower Appointed in 2018 Status: Independent Dr Andrew Crane Non-executive Director, Non-Grower Appointed in 2018 Status: Independent Melissa De Bortoli Non-executive Director, Grower Appointed in 2023 Status: Non-Independent Ian Glasson Non-executive Director, Non-Grower Appointed in 2016 Status: Independent Rachel Kelly Non-executive Director, Grower Appointed in 2025 Status: Non-independent Ian Mason Non-executive Director, Grower Appointed in 2018 Status: Non-independent Julian Zanatta Non-executive Director, Grower Appointed in 2019 Status: Non-independent Kate Cooper Company Secretary Appointed in 2020 The names of the persons who have been Directors, or appointed as Directors, during the financial period and up to the date of the 2026 Annual Report are outlined as follows together with their tenure. For more information about SunRice Directors, including their directorships and previous appointments, please visit the Group’s website or see page 62 of the 2026 Annual Report. 6 SunRice Group Corporate Governance 2026 A) Succession Planning and Appointment Process Board composition requirements are set out in the company’s Constitution. The Board is comprised of nine Directors including five Grower Directors, three Non-Grower (Independent) Directors, and one Executive Director (the Chief Executive Officer). The procedure for the selection and appointment of new Directors and the re-election of incumbent Directors, and the Board’s policy for the nomination and appointment of Directors, is set out in the Nomination Committee Charter and the Constitution. Prior to the election or re-election of any Director candidate, the company provides shareholders with all material information in the company’s possession that is required to support an informed decision by shareholders. The company undertakes appropriate background checks before appointing a person, or putting forward to shareholders a candidate for election or re-election, as a Director. B) Board Skills Matrix Within the constraints of the company’s Constitution, the company aims to achieve a mix of agricultural industry knowledge, finance and risk management, FMCG experience and other business skills among the Directors to lead and monitor the company and its performance, as well as protect the interests of A Class and B Class Shareholders. The table on the right sets out the range of skills identified as important for the Board and the current number of Directors that have been assessed as having that skill. The skills matrix is refreshed regularly by the Board. Board governance and performance Corporate Leadership: Experience in senior executive leadership and operations in large, complex, or listed companies. Leading businesses in dynamic, growth environments. Agribusiness: Experience in rice or agribusiness, and related international markets experience across the food industry value chain, commissioning and managing research and development for commercial and competitive purposes. People and Culture: Experience in C-suite performance management and remuneration, remuneration frameworks, succession planning, organisational development and transformation, organisational culture, Health, Safety and Wellbeing (HSW) management and reporting. Strategic Planning: Experience in corporate strategic planning and development to create long-term shareholder value, including deriving value from mergers, acquisitions, and joint ventures. Experience in deal execution and integration. Risk and Compliance: Experience in balancing commercial imperatives and risk, identification, monitoring and management of material financial and non-financial risks, legal acumen, knowledge of risk management and compliance systems for ASX- listed and regulated companies. Technology, Data and Digital: Knowledge of technology and digital systems, experience in developing IT strategy, managing digital transformation and system delivery, IT governance and risk management. Awareness of latest AI trends and innovations, and their potential impact on the business. Understanding of the digital expectations of customers and consumers. Corporate Finance: Proficiency in finance and accounting for ASX-listed companies, financial acumen and literacy, mergers and acquisitions and capital raising expertise, knowledge of financial governance systems and monitoring. Consumer Products, Marketing and Innovation: Experience in complex multinational FMCG organisations, knowledge of international markets, consumer marketing, product and brand development and segmentation, product innovation and data analysis. Supply Chain and operational resilience: Experience in global or regional sourcing and procurement, exposure to commodity-based or agricultural supply chains, supply continuity and disruption management, regulatory, trade and sustainability considerations impacting supply chains. Sustainability: Experience in sustainability governance, including overall strategy, risk and oversight mechanisms, organisational climate risk and resilience, climate reporting, human rights and modern slavery, community and social responsibility, impact of operations on environment. Stakeholder Management: Experienced in stakeholder management, engagement, and advocacy, investor communications, narrative and positioning, key government relationships, proxy advisor engagement, communication of policy positions. Corporate Governance: Chair and Committee leadership experience (5+ years), ASX-listed board or large complex corporate or government body board experience (5+ years), knowledge of contemporary governance standards and practices. The Board Skills Matrix as at 30 April 2026 Expert Advanced General 7 SunRice Group Corporate Governance 2026 C) Board, Committee and Director Performance Evaluation SunRice has an established practice of regular performance reviews, covering the Board as a whole, Committees and individual Director contributions. During the reporting period, the company facilitated an internal Board and individual Director performance review, to consider the current skills on the Board and update the Skills Matrix, and to assist with director development and succession planning. Board Committees were not subject to a formal performance evaluation in this reporting period, however a committee review is scheduled for FY27. All Non-executive Directors have completed the Company Directors Course run by the Australian Institute of Company Directors. Programs are in place to ensure Directors are provided with updates on corporate governance, sustainability and climate reporting requirements, directors’ duties, cyber risk, workplace health and safety (including psychosocial risk), human rights and other relevant legal and regulatory requirements. Directors are satisfied with the role and performance of the Board, and with the program for ongoing development. D) Director Independence The Constitution requires that the Board be comprised of up to five Directors who are A Class Shareholders or the representative of a body corporate that holds A Class Shares. Currently, five out of nine Directors are A Class Shareholders.. The company’s three independent Directors are Luisa Catanzaro, Dr Andrew Crane and Ian Glasson. The remaining six Directors, including the Chair of the Board, are not considered independent. The Board considers a Director to be independent only where they are free of any interest, position or relationship that might influence, or reasonably be perceived to influence in a material respect, his or her capacity to bring an independent judgement to bear on issues before the Board and to act in the best interests of the company and its shareholders generally as a whole, rather than in the interest of an individual shareholder or other party. The Board regularly reviews the independence of each Non- executive Director. Each Non-executive Director is required to provide to the Board all information that may be relevant to this assessment. All Directors are required to disclose to the Board any conflict of interest or duty and any material personal interest in any matter that relates to the affairs of the company. As noted on page 7 (under A) Succession Planning and Appointment Process), the Constitution requires that the Board be comprised of up to five Directors who are A Class Shareholders or the representative of a body corporate that holds A Class Shares. Currently, five out of nine Directors are A Class Shareholders. Directors who are A Class Shareholders (or “Growers”) supply rice to the company on the same terms as other rice suppliers. The Board recognises that there may be a perception that the rice supply relationship between the company and these Directors may influence their decision-making, so they are not characterised as independent. However, the company’s procedures and systems (including the role of the Independent Committee) ensure that the paddy price is set according to the commercial interests and needs of the company and the Board considers that Grower Directors are, in practice, able to bring an independent judgment to bear on Board decisions. The CEO is an executive employee and is therefore not characterised as independent. Board governance and performance E) Education and Training The company has a program in place for inducting new Directors and providing appropriate professional development opportunities for Directors to develop and maintain the skills and knowledge needed to perform their role as Directors effectively. Directors have access to Management and external and internal audit to seek explanations and information, if required. Directors can also seek independent professional advice they consider necessary to fulfil their responsibilities and to exercise independent judgement when making decisions. If the Chair of the Board consents, the Group will pay a Director’s costs of seeking such advice. That consent may not be unreasonably withheld or delayed. Copies of the advice must be made available to, and for the benefit of, all Board members, unless the Chair agrees otherwise. 8 SunRice Group Corporate Governance 2026 SunRice Group is committed to fostering a diverse, equitable and inclusive workplace and to building a Board and leadership team that benefits from a broad range of skills, perspectives and backgrounds. The Board approves the Group’s Diversity, Equity and Inclusion (DEI) Policy and monitors progress against DEI objectives through reporting to the People and Remuneration Committee, including against measurable gender diversity objectives across senior executive, senior management and the broader workforce. The SunRice Group’s commitment to achieving greater Diversity, Equity and Inclusion consists of the following guiding principles and actions: Our Principles Actions We Are Taking We role model inclusive and respectful workplace behaviours always Raising Awareness We offer development programs to raise awareness of the importance of Diversity, Equity and Inclusion so that everyone is treated fairly and with respect. We want our workforce to reflect the communities in which we operate Making a Difference in our Local Communities We aim to make a difference in our local communities by investing in and recruiting local talent. We set our people up so they can successfully manage the demands of work, life and family Developing Hybrid Work Practices We maximise our productivity and create an environment for our people to thrive by adopting hybrid work practices. We believe there should be equal representation in leadership roles More Women in Leadership Roles We aim to continue to increase the number of women in leadership roles and ensure our leaders reflect the diversity of our communities. The Board continues to give active consideration to diversity in the Board’s composition and across the organisation more broadly, including through contributing to the Ricegrowers’ Association of Australia’s Established Leaders Program to support women in the rice industry to pursue leadership roles including board roles, as well as participating in regional networking opportunities such as the AgriFutures Australia Rural Women’s Award, the Australian Rice Conference (including sponsoring the Women in Rice breakfast), and sponsoring the Women in Ag and Tech X Factor Breakfast, which was part of evokeAG 2026. The Board has adopted a measurable objective for FY27 that is not less than 30% of its directors will be of each gender. Progress against this objective will be reported in SunRice’s FY27 Corporate Governance Statement. Measurable Objectives The Board has adopted a Diversity Equity and Inclusion Policy that outlines the process of setting, evaluating and reporting on diversity objectives. During the reporting period, the Board approved new measurable objectives. The following table summarises SunRice’s achievements against measurable objectives in FY26. Objective FY26 Outcomes Increase proportion of women in Senior Executive positions in the Group to 50% 43% of our Senior Executive roles are held by women (FY25: 38%) Increase the proportion of women in Senior Management1 positions to 40% 39% of Senior Management roles are held by women (FY25: 36%) Increase proportion of women employed across the Group to 40% 27% of our employees across the Group are women (FY25: 27%) Diversity, equity and inclusion at SunRice Gender Equity Snapshot Proportion of women on the Board FY26 FY25 % of Women 33 22 % of Men