Corporate Profile

2

Our Story

In the early 1970’s, Herby Whyte was one of New Zealand’s most progressive farmers. Passionate about improving productivity and making farming a more profitable business, he knew that machinery was a critical part of this but was frustrated about available quality at that time and the lack of back up service and support. He decided to do something about it.

Over forty years later, Landpower is staying true to Herby’s vision - working hard, doing honest business with good people, sourcing the best farm machinery in the world, fronting up if there is an issue, and always looking to keep one step ahead. Landpower is now a significant family owned business operating across New Zealand and Australia.

Our business will continue to grow and develop and our people will always be the key to our success. Our knowledge of farming and machinery, building strong relationships and really caring about the job we do continues to set us apart.

1975 Herby Whyte founds Farmrite Industries Ltd.

1978 Farmrite acquires the Grimme potato harvester franchise.

1982 Farmrite Australia Pty Ltd is formed, and the Grimme potato harvester franchise for Australia is acquired.

1987 Farmrite secures the CLAAS franchise.

1994 Farmrite becomes JCB Agricultural distributor in NZ.

1995Farmrite re-branded to Landpower Group. Formation of franchise dealer network in six key retail areas of New Zealand.

1997Landpower acquires the CLAAS franchise for Australia. Landpower secures the Deutz-Fahr tractor franchise in New Zealand.

1998Landpower secures the AMAZONE franchise for New Zealand.

2001Landpower secures the Deutz Fahr and AMAZONE franchises for Australia. Landpower Credit is established.

2003Landpower Management Services is established to centralise common functions for greater efficiency.

2005 Landpower extends CLAAS range of product to include tractors.

2006 Landpower extends CLAAS product offering to include LEXION combines in Australia.

2008 Landpower opens new facilities in Melbourne, Australia.

2009 Landpower rebrands 20 dealerships to CLAAS Harvest Centres.

2010 Landpower introduces CLAAS Financial Services to Australia and New Zealand.

2011 A new ERP system, Pronto, is developed to improve dealer management.

2012 Landpower opens its new New Zealand Headquarters in Christchurch

2013CLAAS Harvest Centres open in Geraldton, Warrnambool, Wanaka and Hastings.

Landpower launches iDEAL (CRM System)

2014Landpower acquires distribution rights for Fliegl in New Zealand and Australia

Legal AdvisorsLane Neave PricewaterhouseCoopers Centre 137 Victoria Street CHRISTCHURCH 8013 Tel. 64 3 379 3720 Fax. 64 3 379 8370

AuditorsPricewaterhouseCoopers 5 Sir Gil Simpson DriveCanterbury Technology Park CHRISTCHURCH 8053 Tel. 64 3 374 3000 Fax. 64 3 374 3001

BankersBank of New Zealand

Group Turnover June 2014 : NZ$ 199m

Personnel 170

Financial Year End 30 June

Herby & Pam Whyte at the CLAAS 100 Year Celebration, September 2013

3

Group StructureWHYTE FAMILY TRUST

(Shareholder)

LANDPOWER HOLDINGS LIMITED (Holding Company)

LANDPOWER PROPERTIES LIMITED

(Property Owner)

LANDPOWER CORPORATION HOLDINGS LIMITED

(Holding Company)

LANDPOWER AUSTRALIA PTY LIMITED

(Australia Wholesale)

LANDPOWER CREDIT LIMITED

(Group Funding)

LANDPOWER NEWZEALAND LIMITED

(NZ Wholesale Trading)

LANDPOWER MANAGEMENT

SERVICES LIMITED(Management, IT, Treasury)

LANDPOWER CREDIT AUSTRALIA

PTY LIMITED (Aus HC Funding)

HARVEST CENTRENEW ZEALAND

LIMITED(Retail)

LANDPOWER SOUTHERN

LIMITED (Retail)

HARVEST CENTRE DALBY

PTY LIMITED(Retail)

4

Herby Whyte (Chairman)Herby Whyte is a qualified engineer who has been in business since 1965. He was involved in the potato industry for 30 years and was formerly a major New Zealand deer farmer. He started importing farm machinery into New Zealand in the early seventies.

Herby was a founding director of the New Zealand Game Industry Board, and also founding director of a listed public company formed in 1987.

Merv George (Director)Merv George has a strong background in agricultural machinery and extensive international business experience.

Merv was Sales Manager for AM Bisley in New Zealand but left the country in 1980 to work for CLAAS Australia. In 1986, he moved to the UK to take on the role of Sales Director for CLAAS UK.

Merv is now based near Melbourne.

Trevor Burt (Director)Trevor Burt is an independent company director based in Christchurch. He returned to New Zealand after a career as a senior executive with global industrial company, BOC PLC, where he spent time in Asia, the USA and Europe. His roles with BOC included Managing Director in China, President of the BOC Group in the USA and Executive Director of Linde based in Munich, following Linde’s acquisition of the BOC Group.

Trevor is currently Chairman of Ngai Tahu Holdings and Lyttelton Port Company and a director of Mainpower NZ, PGG Wrightson and Silver Fern Farms and is a member of the New Zealand Institute of Directors. Trevor became a director of Landpower in June 2009.

Group Board

From left to right: Richard Wilson, CEO; Herby Whyte, Chairman; Trevor Burt, Director and Merv George, Director.

Sam Hetherington (Director)Sam Hetherington has been a partner in the Christchurch law firm Rhodes & Co since 1999. He specialises in business law, providing advice on a wide range of corporate, commercial and transactional issues to businesses in diverse industries.

Sam joined the Landpower Board in October 2013. He is also a director of several other privately owned companies.

Sam Hetherington has been a board member since October 2013

5

Executive Management TeamGroup Chief Executive Officer Richard Wilson

Chief Financial Officer Jonathan Owens

General Manager – Group Operations Paul Barry

Group Manager – People & Brand Lee Gardiner

Group Financial Controller Rob Murphy

Commercial Manager, Australia Cathy Hodgson

Sales Manager, New Zealand Roger Nehoff

Sales Manager, Australia Tim Needham

Group Directory

6

Group Franchises

CLAAS is Europe’s market leader in combine harvesters, self-propelled forage harvesters, balers, and greenline equipment.

This privately owned family company is based in Harsewinkel, Germany, and operates production, sales and service sites around the world.

CLAAS is the largest manufacturer of self-propelled forage harvesters in the world, enjoying a 50% share of the global market, with annual sales turnover of €3.8 billion.

Landpower is the exclusive supplier of CLAAS machinery and equipment in New Zealand and Australia.

AMAZONE is a family owned company based near Osnabrück, Germany. The company leads Europe with its range of fertiliser spreading equipment, rotary power harrows, sprayers and cultivation and seeding equipment.

7

JCB is a highly successful machinery manufacturer based in the United Kingdom. The company produces top quality agricultural tractors, telescopic loaders, and industrial and construction equipment. (NZ only)

Trioliet is a leading Dutch company with over 50 years’ experience in developing machinery and systems for feeding cattle. (NZ only)

Fliegl is a family owned company operating from southern Germany and is a world leader in liquid manure technology, trailer and transport solutions. Fliegl was established by Josef Fliegl in 1975 and now employs 900 people internationally.

Grégoire Besson is a 200 year old french, family-owned manufacturing company specialising in world class ground-engaging passive cultivation equipment. The company employs approximately 350 employees in 5 manufacturing facilities worldwide.

Grimme is the most successful manufacturer of specialist potato harvesting machinery in the world. Based in Damme, Germany, Grimme provides a full range of potato harvesters, from single row diggers to sophisticated computer-controlled self-propelled machines.

Seed Hawk is a Canadian company founded by the Beaujot brothers from the Saskatchewan region in 1986. Seed Hawk specialise in air seeders in the zero-till industry. The company has been in partnership with Swedish company Väderstad since 2006. (AU only)

8

The Landpower Group recognises that future growth depends upon its ability to provide accurate and timely information to customers, dealers and suppliers. As a result, the company has invested with care in highly efficient network and information systems.

Pronto Enterprise ManagementThe company runs Pronto, an enterprise management system developed and supported by Pronto Software Australia. This system incorporates all aspects of the company’s business including ordering, invoicing, warehousing, shipping, machines and parts. Pronto was upgraded in August 2011 and is continuously being improved as core functionality is enhanced to include mobility solutions.

Landpower IntranetThe Landpower Intranet is a critical communication tool and is a front portal to business applications, reports, policies, procedures, forms and other organisational information.

The Landpower Intranet is our primary communication tool and any relevant updates including organisational announcements, staff announcements and product updates can be found here.

Online Dealer ServicesPartslink, the CLAAS online parts ordering system enables CLAAS Harvest Centres to enquire easily on parts orders and inventory. CLAAS Service Online is a supplier portal for dealerships to improve their visibility and access warranty, technical support and machine information.

Information Systems

The Landpower NetworkLandpower has planned the growth of its information systems with care and has a solid IT infrastructure for systems delivery.

iDEALIn 2013, Landpower implemented an integrated CRM and online machine configuration/quoting tool called iDEAL intending to streamline the prospect management, quoting, and machine ordering functions within the business.

Our Knowledge FarmOur Knowledge Farm is an online documentation portal which outlines policies and procedures for all aspects of our business. It is a critical training tool for newly inducted employees with daily, weekly and monthly tasks being described for each retail role.

CLAAS Harvest Centre iHubCLAAS Harvest Centre iHub has been developed for our retail sales team and is an online portal providing access to a multitude of resources including product animations, online brochures, competitor information and iDEAL . Available on iPAD, iHub is intended to be a portable sales toolkit with centrally managed and up-to-date content.

9

Our Growing Retail NetworkThe CLAAS Harvest Centre brand has been introduced over the past 6 years across the retail network which distributes a range of the world’s best farm machinery to the agricultural market in New Zealand and Australia.

CLAAS Harvest Centres are exclusive, dedicated, owned and franchised dealerships, all with large economic zones. Our dealership footprint has been carefully mapped and currently includes 14 locations in Australia owned by 10 dealers. New Zealand consists of 13 locations owned by 5 dealers, including Landpower.

CLAAS Harvest Centres Our success lies in our people and our structure. We are able to successfully leverage our local ‘on-farm’ expert knowledge, our global partnerships and experience and our supportive centralised infrastructure to deliver a better understanding of our customer’s business. This leads to improved relationships with our customers and the creation of efficiencies and returns that are demanded by today’s agricultural sector.

We understand how to run a family business. Like our supplier companies, and our network of dealers, we are family owned. This common bond has a governing influence on the way we behave and act and guarantees like-minded and value oriented partnerships across the business.

10

Retail Finance

CLAAS Financial ServicesCLAAS Financial Services is a vendor finance partnership between Landpower and De Lage Landen. De Lage Landen is a global provider of leasing and vendor finance options for many well-known manufacturers and distributors within the global agriculture sector. With its coveted AAA finance rating, our customers are assured of stability, tailored finance packages and extremely competitive rates.

CLAAS Financial Services provides highly customized and seamless financial programs for customers, backed by excellent customer service.

11

Where We Are

NEW ZEALAND

AUSTRALIA

Hokitika

Invercargill

TimaruWanaka

Hawera

Hamilton

Rotorua

Whangarei

Hastings

Templeton

Ashburton

Dunedin

Feilding

Narrabri

Latrobe

Dalby

Wagga Wagga

Warrnambool

Lake Bolac

Esperance Leongatha

Warragul

EchucaKatanning

Geraldton

Colac

Moree

AUSTRALIA 31-33 Marshall CourtAltona, VIC 3018, Australia Ph: +61 3 9369 1188 Fax: +61 3 9369 1944 www.landpower.com.au

NEW ZEALAND (Group Head Office)45 Ron Guthrey RoadHarewood, Christchurch 8053, New ZealandPh: +64 3 357 6000 Fax : +64 3 357 6001www.landpower.co.nz

09/14