Dear Sir / Madam,

PrimeAg Australia Limited

Attached for the market’s information is the announcement for the appointment of the General Manager Operations – PrimeAg Agricultural Fund.

Samantha Macansh
Company Secretary

GENERAL MANAGER, OPERATIONS APPOINTED TO THE PRIMEAG AGRICULTURAL FUND

PrimeAg Australia Limited (PAG) today announced the appointment of Michael Blakeney as General Manager, Operations for the PrimeAg Agricultural Fund. Mr Blakeney was until recently the Managing Director of the Warakirri Agricultural Trusts (‘Warakirri’).

PAG CEO and Managing Director, Peter Corish, said: “Michael’s appointment is an important step in the establishment of the new fund.

“The PrimeAg Agricultural Fund is targeting $600 million in assets under management to invest in prime Australian cropping properties and water entitlements, and we are delighted to have someone of Michael’s calibre and skill set joining our team.

“Michael will be responsible for the evaluation of potential new acquisitions for the fund and establishing operations for the fund assets as acquired. Michael’s considerable funds management and agricultural property management experience, developed with Warakirri, will be relevant to the structure of the PrimeAg Agricultural Fund. 

“Michael is a successful commercial agribusiness manager with production and management experience across a range of agricultural enterprises and associated service industries.”

Mr Blakeney said: “The Australian agricultural cropping property and water entitlement market provides value opportunities. It’s an exciting time for agriculture and an exciting time for PrimeAg.

“I look forward to working to build and operationalise the Fund, deliver value for shareholders and join the existing highly experienced PrimeAg Management team.”

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