2023 Ricegrowers Limited Annual General Meeting and B Class Meeting

Chairman’s Letter

At 10.00am (AEST) on Wednesday 23 August 2023 Ricegrowers Limited (ABN 55 007 481 156) will hold its 2023 Annual General Meeting (“Annual General Meeting”, “AGM”), with registration commencing at 9.00am. A separate meeting of B Class Shareholders (“B Class Meeting”) will be held immediately following the Annual General Meeting (together, "Meetings").

It is currently intended that the Annual General Meeting and B Class Meeting will be held at and webcast from the Leeton Soldiers Club, Cnr Acacia and Yanco Avenue, Leeton New South Wales. Shareholders who are unable to attend the Meeting will also be able to watch the Meeting by viewing the webcast by visiting https://meetings.linkgroup.com/SGL2023 .

Shareholders will have the opportunity to vote on a number of resolutions at the Meetings. Further details of the resolutions to be considered at both Meetings is set out below and in the Notices of Meeting.

Laurie Arthur
Chairman
SunRice

2023 Ricegrowers Limited Annual General Meeting and B Class Meeting
10.00am (AEST) Wednesday 23 August 2023 for the Annual General Meeting, with the separate B Class Meeting to be held at 11.30am (AEST) or immediately following the Annual General Meeting (whichever time is later) Leeton Soldiers Club, Cnr Acacia and Yanco Avenue, Leeton New South Wales

Resolutions for the 2023 Annual General Meeting and B Class Meeting

The Board is proposing a number of resolutions at this year’s Annual General Meeting and the separate B Class Meeting. In addition to the standard items of business that are considered at the Annual General Meeting every year (i.e. consideration of the Annual Financial Report, Directors’ Report and Independent Audit Report for the year ended 30 April 2023, and the adoption of the Remuneration Report for the year ended 30 April 2023), the additional resolutions are outlined below.

Re-election of Ian Glasson (only A Class Shareholders are entitled to vote on this resolution at the Annual General Meeting)

At the 2020 Annual General Meeting, Ian Glasson was re-elected to the Board for a three-year term.

Accordingly, Ian Glasson will be standing for re-election at the 2023 Annual General Meeting, seeking the support of A Class Shareholders for a further term of three years. More detail regarding his biography and experience is included in the Notice of Annual General Meeting.

Equity Awards for the new CEO (note only B Class Shareholders are entitled to vote on this resolution at the B Class Meeting)

As announced on 27 April 2023, the Board has appointed Paul Serra as Chief Executive Officer and Managing Director of the Company. Accordingly, the Board has invited Mr Serra to participate in the Company's Long-Term Incentive Plan ("LTI Plan") and Retention Plan.

The Board will be seeking separate approval for the granting of B Class Share Rights to Mr Serra under the LTI Plan and the Retention Plan at the B Class Meeting.

Attending the Meeting and voting

Shareholders should monitor our website and ASX announcements where updates will be provided if it becomes necessary or appropriate to make alternative arrangements for the holding or conduct of the Meeting, including how to participate online if that becomes appropriate. We will also contact shareholders who have provided their email address to us via email.

The health of our shareholders, employees and other meeting attendees is of paramount importance. We ask that you do not attend the Meeting if you feel unwell. Restrictions and other precautionary measures may be imposed on attendance if necessary, including limiting entry to the Meeting. Therefore, you are encouraged to lodge a directed proxy or direct vote and to submit written questions (if you have any) using the Question Form accompanying this Notice in advance of the Meeting, even if you plan to attend the Meeting. Please note that individual responses to pre-submitted questions will not be sent to shareholders.

To lodge your direct vote or appoint a proxy, please follow the instructions in the attached ‘Voting Information Schedule’. Direct votes and proxy appointments must be received by 10:00am (AEST) on Monday 21 August 2023. The Question Form must be received by no later than 5:00pm (AEST) on Wednesday 16 August 2023.

Proxy Forms and Question Forms can be submitted in the following ways:

Online
www.linkmarketservices.com.au

By Mail
Ricegrowers Limited
C/- Link Market Services Limited
Locked Bag A14, Sydney South NSW 1235; or

By Fax
+61 2 9287 0309

Questions and voting at the Meetings

Please note that only A Class Shareholders are entitled to vote on the resolutions before the Annual General Meeting and only B Class Shareholders are entitled to vote on the resolution before the B Class Meeting. The ‘Voting Information Schedule’ contains instructions for both A Class Shareholders and B Class Shareholders on submitting questions in advance of the Meetings and appointing a proxy or casting a direct vote before the Meetings. The Chairman of the Meetings intends ot vote any undirected proxies in favour of each item of business.

Notice of Annual General Meeting

The Notice of Annual General Meeting of Ricegrowers Limited, to be held on Wednesday 23 August 2023, can be found here.

Notice of B Class Meeting

The Notice of B Class Meeting of Ricegrowers Limited, to be held immediately following the Annual General Meeting on 23 August 2023, can be found here.

2023 Ricegrowers Limited Annual General Meeting and B Class Meeting