Profit Overview

The Maryborough Sugar Factory Limited (MSF)• GPG investment since 2004 – currently 27.1% shareholder• Only listed pure sugar company in Australia• Current stock market value of $45m set to increase by $40m via capital raising supported by GPG• Operates one sugar mill, owns significant agricultural land and water assets and is now a large shareholder inSugar Terminals Ltd (see below)• Under GPG influence MSF is seen as an “agent for change” in the sugar industry. MSF is in the process ofacquiring additional agricultural land, bidding for other sugar mills and sugar-related assetsSugar Terminals (STL)• STL operates seven bulk storage and handling port facilities up the Queensland coast usedexclusively to export 95% of Australia’s sugar crop• GPG became an “Active Grower” (a requirement for owning Sugar Terminals shares) in 2004via the purchase of a sugar cane farm• It is now the largest “Grower” shareholder with 19.1m shares (5.3%)• STL attempted to limit GPG voting rights to 5% - but GPG defeated this at AGM• It is currently planned to consolidate this shareholding into Maryborough Sugar15