Ravensdown Shipping Services Pty Ltd Melbourne Contact The

Ravensdown Shipping Services Pty Ltd Melbourne

Contact “The Shed”, 144 Ferrars street, South Melbourne, Victoria 3205, Australia Tel +61. 3. 96821259 Email: chartering@rdnss. com. au operations@rdnss. com. au www. rdnss. com. au

Ravensdown Limited • Created by farmers in 1977 in Dunedin focusing on fertiliser manufacture and sales in the south island • 1997 expand into NZ north island • Three manufacturing plants • Lime quarries, store networks, ground & air spreading, on-farm silo storage

Fertiliser Sales Fertiliser sales (thousand tonnes) NZ tonnes AUS tonnes 1, 800 1, 500 1, 200 900 600 300 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Revenue

Total Equity ($ million) 500 400 300 200 100 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 (including inventory reclassified as "Assets held for sale" for 2013 and 2014 years)

Superphosphate Plants Awatoto Hornby Ravensbourne

Store Network

Aero Work

Ground Spreading Northland (4) Spreading Waikato (1) Spreading FBT (10) Spreading Sandford (12) Rural Bulk Spreading (6) Rae Brothers (3) Spreading Canterbury (9) Spreading Southland (3) North Otago Ground Spreading (2) Advanced Spreading (5)

RSS History and Background • Core group worked together for up to four decades. • For thirty five years we have been involved with Ravensdown. • Post GFC a new shipping strategy is devised. • RSS incorporated February, 2011

RSS Primary Trades • Primary trade in-house fertiliser cargoes to New Zealand sourced from worldwide origins, as well as other import cargoes to New Zealand such as coal & grains, followed typically by logs, scrap, or coal from New Zealand various export commodities from Australia, grain, scrap, steel, concentrates, alumina, salt, coal, iron ore, sugar, gypsum etc. .

Cargoes carried from 2011 – 2018 2. 77 M 2. 18 M 1. 99 M 2. 26 M 3, 000 2, 500, 000 2. 19 M 2, 000 1. 57 M 1. 53 M 1, 500, 000 1, 000 500, 000 0. 19 M Fertilizers in MT Logs in JAS Others in MT Total 2011 100, 000 90, 000 190, 000 2012 775, 000 550, 000 200, 000 1, 525, 000 2013 863, 562 814, 926 308, 258 1, 986, 746 2014 792, 530 646, 444 133, 544 1, 572, 518 Data basis financial year from 1 st June to next 31 st May 2015 961, 771 734, 051 486, 553 2, 182, 375 2016 873, 119 595, 866 791, 090 2, 260, 075 2017 957, 338 757, 437 475, 004 2, 189, 779 2018 1, 168, 262 972, 176 633, 343 2, 773, 781 -

RSS Annual Turnovers 152 165 130 122 105 115 67 AUD Million 19 2011 2012 2013 2014 2015 2016 2017 2018

Bunker Suppliers/Brokers • Norwegian Oil Trading AS • Cockett Marine Oil • Interg 8 Fuels We have credit facilities with all major bunker suppliers.

P and I Club • Full entry with Gard

Safeguarding the Product and the Client. Unpriced added value. • Client (RL) is paramount. • Cheapest not always the best. • Vessel/cargo – supply safety. • Vessel cleanliness. • Operational commercial and practical sharing and application of knowledge. • Top class, fuel efficient tonnage is vital.

RSS Growth and Future • Our core/longer term fleet is growing, with currently 8 on charter. • Continually seeking best quality, longer term tonnage. • Third party business growth. • Bunker hedges and freight futures enabling faster, longer term pricing. • Through solid regular performance, extending our NZ log activities to other log origins.