SEED TECHNOLOGIES

Investor Day

28 May 2013

Melbourne, Australia

INTRODUCTION &

SEED TECHNOLOGIES REVIEW

Robert Reis

Group Executive, Corporate Strategy & External Affairs

Agenda

Introduction & Seed Technologies Review 10:00 am

Nuseed Global Overview 10:10 am

Innovation 11:00 am

R&D Model & Capabilities 11:45 pm

Omega 3 12:15 pm

Lunch 1:00 pm

Nuseed Regional Business Overview 1:30 pm

Seed Treatment 3:00 pm

Summary & Close 3:30 pm

Seed Technologies Platform

• Seed

• Traits

• Seed treatment

Seed Technologies increasingly

relevant to Nufarm’s future

• 15% of group EBIT in 2012

• Ambition: double contribution in next 3-4 year period

• Strong platforms for organic growth

• Highly targeted acquisition opportunities

5

Segment

Sales (A$)

$10 m Sales

$-2M EBIT

$121 m sales

53% GM

$30.6M EBIT

2004 2008

2012

NUSEED GLOBAL OVERVIEW

Brent Zacharias

General Manager, Nuseed Group

Global Company

Global Management Team

Brent Zacharias

General Manager, Nuseed Group

Andy Thomas

President, Americas & Emerging Markets

Keith Wehri

Global Supply Chain Leader

Ernst Topitschnig

General Manager, Europe

Bill Swann

General Manager, New Technologies &

Emerging Markets

Travis Rankin

General Manager, Australia

Daniel Hinderliter

General Manager, South America

Carlito Los

General Manager, Brazil

Brent Whittaker

Global Market Development Manager

Errol Corsan

R&D Director, Canola & Sorghum

James Gerdes

R&D Director, Sunflower & Trait

Development

Malcolm Devine

Innovation Lead

Gary Barber

Global Financial Controller

Danielle Moore

Corporate Communications

Manager

With us today… Brent Zacharias

General Manager, Nuseed Group

Brent provides strong visionary leadership for Nuseed’s global strategy

and overall business success. From global headquarters in Chicago he is

responsible for the direction, management and growth of Nufarm’s seed

business, giving guidance and focus to the Leadership Team.

Andy Thomas

President, Americas & Emerging Markets

Andy leads our US, Mexico and China businesses, from our Chicago

head office. He also provides strategic direction for our European

operations and emerging markets to ensure alignment and full leverage

of our pipeline and capabilities.

Errol Corsan

R&D Director, Global Canola & Sorghum

Errol leads Nuseed’s global research and development activities for our

sorghum and canola crops. Based in Brisbane, he is responsible for

relevant trait advancement strategies, breeding and development teams,

breeding sites and the Horsham Innovation Centre, Victoria.

Dr James Gerdes, PhD

R&D Director, Global Sunflower & Trait Development

Jim is responsible for leading the breeding and development teams at

each of the global sunflower breeding sites, development of the

sunflower trait advancement strategy, and providing leadership to the

Woodland Innovation Centre in California.

Brent Whittaker

Global Market Development Manager

Brent leads Nuseed’s market development strategies and activities for all

our crops across the globe. Based in Toowoomba, he is responsible for

strategic acquisition, business development and seamless integration

leveraging his strong relationships and networks.

Danielle Moore

Corporate Communications Manager

Danielle leads Nuseed’s corporate communication and brand strategies.

Based in Melbourne, she is responsible for the development and

execution of corporate level communication activities and provides

direction and support to each region.

Gary Barber

Global Financial Controller

Gary provides global leadership and support to regional Nuseed finance

teams, ensuring a consistent and coordinated approach across all

financial activities. Based in Chicago, he is also responsible for

facilitating seed-specific process improvement initiatives.

Daniel Hinderliter

General Manager, South America

Daniel is responsible for Nuseed’s business strategies and operations in

Argentina, Brazil and across South America. His focus is to create and

further develop a growth platform for the company and lead development

of the business across the region. He is based in Argentina.

Travis Rankin

General Manager, Australia

Travis leads Nuseed’s Australian operations from our Melbourne office.

He leads the region’s strategic direction and the development of

downstream growth in the healthy oils platform, including Monola and

Omega 3 projects.

Bill Swann

General Manager, New Technologies & Emerging Markets

Based in Melbourne, Bill provides leadership across the business to drive

success of key pipeline technologies that deliver value beyond yield, including

the expansion of key products across all geographies. He also focuses on

developing emerging markets in Africa, Middle East and West Asia.

Terry Hughes

Global Commercial Manager, Seed Treatment

Terry is responsible for Nufarm’s global seed treatment strategy across

various units and geographies, with the aim to expand our seed

treatment product portfolio. Based in Chicago, he provides a strong focus

to further enhance the company's seed treatment knowledge base.

Different thinking

FROM A NEW KIND

of seed company…

Committed to enhancing

THE VALUE OF CROPS THROUGH

seeds with greater purpose.

Innovations in canola,

sorghum, sunflowers

• More than yield

• Use seed technology

to solve problems

• New ways to add value

through the entire process

Worldwide resources.

Local knowledge.

• Worldwide resources

• Regional knowledge

• Anticipate consumer demand and

the opportunity it creates for farmers

and processors

• Concentrate on select core crops

with exceptional potential

• Deliver innovations that make a difference

Advancing invention

to market innovation

• Changing rural lives in China

• Green bio-energy

• High quality gluten-free

sorghum flour

• Productivity step change

in Africa

• Healthy oil alternatives

• Land produced DHA-rich

Omega 3 oils

• More beef, pork, chicken

and milk

• Saving water

• Healthful sunflower snack

foods

Commitment, focus, capabilities

• Our commitment

– Global scale, local impact

– Apply the highest levels of innovation,

science and investment to ensure results

• Our focus

– Deliver top yielding hybrids stacked with leading disease,

stress, herbicide and productivity traits

– Enhance crops beyond yield with targeted output trait

research and development

– Invest to deliver local crop adaptation, productivity

and quality

World leading sunflowers

• Critical role in healthful food alternatives

• Deliver solutions that enhance production

and benefit both the grower and end-use

consumer

• Lead global product and market

development in new segments

• $1,500M market in seed and treatment

• Strong seed and end use market growth

Revolutionary sorghum

• Recognize the incredible potential of sorghum

• Apply modern breeding techniques to the

worlds 6th largest crop

• Hybrids with high energy availability

for feed and fuel applications

• Creating a premium food use product category

• $400M existing global seed market value

• Exceptional growth potential with introduction

of hybrid technology, agronomic traits, and

beyond yield concepts

• Long term approach – key role in global

agri-food

Canola on the cutting edge

• Impressive range of products

• Key role in innovating Monola®

• Development of DHA-rich

omega 3 oil in canola plants

• $1B global seed-trait-treatment market

• Opportunity to significantly lift

market value in target countries

Growing opportunity

• Unique focus and passion

to go beyond yield

• Tremendous depth of

knowledge and experience

in core crops

• Innovative thinking that is

impacting the industry today

• Looking ahead to add value

in the future

International reach. Local impact.

• Locations around the world > 250 dedicated staff

• Product testing and sales in >35 countries

• Regional operating units delivering hybrids, traits, production

techniques and seed treatments tailored to individual climates,

soil types and markets

Four pillars of growth

M&A history

Canola:

2004 AgSeed Research

2006 Nutrihealth

2006 Dovuro Seeds

2006 Monsanto Assets

Strategic asset:

• Canola breeding

• Specialty canola traits

• Production & sales infrastructure

• Canola breeding program & RR trait

Sunflowers and sorghum:

2008 Lefroy Seeds

2009 MMR Genetics

2009 Richardson Seeds

2010 Druetto Argentina

2010 Flower Genetics USA

2011 Super Seeds Europe

2011 Seeds 2000 – USA / SA

2012 Atlantica Brazil JV

Strategic asset:

• Sunflower and sorghum germplasm

• Forage sorghum breeding and genetics

• Sorghum production and sales

• Forage and grain sorghum

• Confectionery and oilseed sunflower

• Sunflower germplasm

• Confectionery and oilseed sunflower

• Brazil infrastructure and market access

Nuseed life cycle

Phase I: Emergence

- Nearing completion

- Global footprint

- Proprietary R&D pipeline

Phase II: Growth

- Realization of R&D and M&A investment returns

- Seed treatment synergy

- New trait & hybrid launches

- Crop expansion

Phase III: Evolution

- Delivery of novel traits

- Downstream engagement

- Redefining key crop value

Summary

• Nuseed is a distinct seed and traits company

• Successful track record, profitable growth

• Strong leadership team

• Considerable growth ambition

• Innovation focused – sharing the rewards in partnership

INNOVATION PIPELINE

Brent Zacharias

General Manager, Nuseed Group

Andy Thomas

President, Americas & Emerging Markets

• Invention to market innovation

• Beyond yield impact

• See yield differently

• Market introduction and value capture

Innovation defined

Innovation sources

Native traits from

proprietary germplasm

& molecular discovery

(in house & partnerships)

Unique gene

& trait stacks

(public, licensed, proprietary)

Alternate plant

species gene discovery

(GMO, in partnerships)

Advantages of native traits

• Speed

• Development costs

• Significantly lower regulatory costs

• Higher ROI, lower hurdle rates

Nuseed innovation stages

Discovery & Proof of Concept

Trait Development

Trait Introgression

Hybrid Advancement

Launch

INNOVATION PIPELINE STATUS

Discovery & proof of concept

• Omega 3

– Land based DHA rich oil from elite canola plant source

– Just advanced to trait development in 2013

• Novel input trait 1: sorghum

– Increase in yield and adaptable area

• Novel ‘beyond yield’ trait 1: sunflower

– Unique downstream user attribute

Discovery & Proof of Concept

Trait development

Trait Introgression

Hybrid advancement

Launch

Trait development

• Novel input trait 2: sorghum

– Increase in adaptable area and yield

• Input trait 2 with ‘beyond yield’ stack: sorghum

– Increase in yield and adaptable area with ‘beyond yield’ trait

• Novel ‘beyond yield’ trait 2: sunflower

– Unique downstream user attribute

Discovery & proof of concept

Trait Development

Trait Introgression

Hybrid advancement

Launch

Discovery & proof of concept

Trait development

Trait Introgression

Hybrid advancement

Launch

Trait introgression

• Roundup Ready (second generation): canola – Collaboration with Monsanto

• Input trait stack: oilseed sunflower – Multiple disease resistance, HT, orobanche stack

• Novel input & beyond yield trait stack: confection sunflower – Increase in adaptable area and yield

• Sorghum herbicide tolerance

– Collaboration with third party

– Increase in grower convenience, yield, adaptable area

Discovery & proof of concept

Trait development

Trait Introgression

Hybrid Advancement

Launch

Hybrid advancement and launch

• High brix sorghum hybrids

– Alternative crop for sugarcane ethanol producers

• RR canola hybrids (Australia)

– First year launch, second generation in prelaunch

• Canola and Monola hybrids (Global)

– Hybrids extending to global markets for testing

• Long seeded confection sunflower with unique disease traits (China)

• Wholis sorghum (Global)

– Second generation hybrids testing in multiple global locations

INNOVATION PROJECTS IN

COMMERCIAL RAMP UP STAGE

Monola

The seed:

• Trait enhanced – modified oil

• Australia adapted – drought, herbicide, disease

• Identity preserved production system

The oil:

• Low saturated fat (<7%), trans fat free (<0.1%)

• High oleic (>68%), high stability (2x canola)

• Heart Foundation approved

The opportunity:

• Supply large multinational restaurants

• Healthier, highly functional oil

High energy sorghum

The seed:

• Brown mid rib trait in forage and grain sorghum combined with inherent

high water use efficiency

The feed:

• Low lignin, high palatability, more digestible for improved feed conversion...

more milk, more meat

The opportunity:

• Change the way animals are fed in a water limited environment

Nuseed announces new category

Wholis

The seed:

• Adapted sorghum from a ‘feed grain’ to a premium ‘food grain’

• Maintains sorghum's inherent gluten free quality and ability to produce in

water-limited environments around the world

The food:

• Designed for milling fine white food-grade flour (gluten free)

The opportunity:

• New category of premium food grade, gluten free flour and whole grain

solution for food companies in developed markets

• Significant advancement in food quality and yield within emerging markets

where sorghum is a major domestic crop and staple food

Wholis advancement

Milling quality improvement and testing

Baking tests

Adaption from feed to food seed types

Broad germplasm base

Confection sunflower

The seed:

• Breeding program develops hybrids that demonstrate desired consumer

characteristics (size, color, texture) and agronomics (yield). Yield has

doubled in last five years in China

The food:

• Harvested grain is processed and sold as snack food in global markets

The opportunity:

• Number 1 snack food in China (>1kg / person pa)

• Significant markets in Europe and America

• Stack new input traits to raise yield potential further

Sorghum

Sunflower

Canola

Summary

1. Exciting commercial & future pipeline of “beyond yield traits”

2. Strong yield and input trait pipeline

3. Efficient innovation model – highly targeted investment

Discovery & Proof of Concept

Trait Development

Trait Introgression

Hybrid Advancement

Launch

Input trait 1

Beyond Yield

trait 1

Input trait 2

Input trait 2 with

Beyond Yield stack

Beyond Yield

trait 2

Land based DHA

Sorghum HT

Input trait stack

(disease, HT,

orobanche)

Novel Input &

Beyond Yield

trait stack

RR2 input trait

High Brix hybrids

Wholis second

generation hybrids

Long seeded with

new disease traits

Oilseed EU & LAS

RR second

generation canola

hybrids

Monola hybrids

High Energy

Wholis

Confection (global)

High Oleic

RR hybrids

Monola

RESEARCH & DEVELOPMENT

DESIGN AND CAPABILITIES

Errol Corsan

R&D Director, Canola & Sorghum

Jim Gerdes

R&D Director, Sunflower & Trait Development

Shift in R&D sophistication and scale

2009 2013

2 field stations 11 field stations

2 Innovation Centers

10 research staff > 50 research staff

Traditional plant breeding Genetic mapping

Molecular marker assisted breeding

Double haploid breeding

GM trait development

Mutation breeding

Accelerated trait introgression

Pathology screening

Advanced trials in 2 countries Advanced trials in 30+ countries

R&D components

Using tools and technology

to reduce pipeline time, numbers and cost

1-2 Commercial

<10

Tens

Hundreds

Thousands

F1-F2

F3-F5

F6- F8

PARENTS breeding years 1-3 HYBRIDS testing years 4-8

Generate hybrids for testing

Hybrid advancement model

Global numbers

Outcome:

• Continuous pipeline of improved products

• Rapid recycling and conversion of elite lines

• 10-20 new hybrid product releases per year per crop targeting stacked traits

Target # of

experimental hybrids

8,000-10,000

1,000

500

100

10-20 per annum

T0 • Breeder observation

T1 • Yield trials local

T2 • Multi environment regional

T3 • Multi environment national

T4 • Registration completion and launch

Innovation Centre: California

• Molecular biology lab

• Pathology lab

• Quality analysis lab

• Greenhouse capacity

• Global sorghum and sunflower trait development

and advancement

Innovation Centre: Horsham

• Global centre for canola innovation

• Pathology

• GM (PC2 certified) glasshouse and lab

• GM trait transformation

• Growth chambers

• Trait advancement and introgression

Sunflower field stations

Venado Tuerto, Santa Fe, Argentina

Toowoomba, Queensland,

Australia

Rio Verde, Goias, Brazil

Woodland, California,

United States

Breckenridge, Minnesota,

United States

Novisad, Serbia, Europe

China

Sorghum field stations

Vega, Texas,

United States

Novisad, Serbia, Europe

Venado Tuerto, Santa Fe, Argentina

Toowoomba, Queensland,

Australia

Rio Verde, Goias, Brazil

Canola field stations

Horsham, Victoria, Australia

Venado Tuerto, Santa Fe, Argentina

Breckenridge, Minnesota,

United States

Dahlen site 20 hectares

Brimpaen trials Crossing tent

Summary

• Completing scale up for leading research and development

platform in our core crops

• Significant step change in sophistication, investment, and

trait capability

• Continuous pipeline to deliver leading genetics with

leading traits

OMEGA 3 PROJECT REVIEW

Mike Pointon

Group Executive, Innovation & Development

Dr James Petrie, PhD

CSIRO Food Futures Flagship

EPA/DHA science developments

• 1980’s Scientific data of benefits of EPA/DHA for CVD

• 1990’s Supplements launched for CVD and general health

• 1990’s Evidence – benefits for embryo and infants

• 2000’s Science explosion – new evidence in clinical trials, pharma

Impact:

• Demand spike - humans ingredients, aquaculture feed, nutraceutical

• Increasing pressure on ocean supply & regulation, new source

discovery

1000

mg /

day

250

mg /

day

400

mg /

day

Fish oil use by sector

Data Source: IFFO

0

200

400

600

800

1000

1200

1400

1600

1800

1970 1975 1980 1985 1990 1995 2000 2005 2010

Nutraceutical

Industrial

Aquaculture

0

200

400

600

800

1000

1200

1400

1600

1800

2000

2200

2400

2600

2800

3000

Dec-03 Dec-04 Dec-05 Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13

Soy oil - CIF Rott.

Rapeseed oil - cif Rott.

PalmOil - fob Malay

FishBulk - fob Peru

Fish oil price appreciation

Price $/tonne

Data Source: Hammersmith Marketing/USDA, GOED

DHA canola: progress update James Petrie | CSIRO Food Futures Flagship

A partnership between CSIRO, Nuseed and GRDC.

Why DHA?

The particular importance of long-chain omega-3

– Marine: long-chain EPA and DHA

• Strong health benefits

• Microalgal primary production

– Plants: short-chain ALA and SDA

• Limited health benefits

• Low conversion to DHA

Why DHA?

– Marine: long-chain EPA and DHA

• Strong health benefits

• Microalgal primary production

– Plants: short-chain ALA and SDA

• Limited health benefits

• Low conversion to DHA

The particular importance of long-chain omega-3

Why DHA?

Microalgae

(DHA primary producers)

Canola

GENES

The particular importance of long-chain omega-3

DHA biosynthesis was a challenge

History of DHA biosynthesis attempts

Au

stra

lian N

atio

nal A

lga

e C

ultu

re C

olle

ctio

n

History of DHA biosynthesis attempts

History of DHA biosynthesis attempts

1 Ha of canola >12% is the

DHA yield from 10,000 fish

Summary

• High value project, with significant intellectual property

• Leading science, proof of concept in canola complete

• Moving to full developmental and field trial stage

NUSEED USA

Andy Thomas

President, Americas & Emerging Markets

Nuseed Americas overview

Crop focus

• Sorghum: forage and grain

• Sunflower: oilseed and confection

• Seed treatment: insect and disease protection in wheat, cotton and soybean

The market size

• Sorghum: grain 3m ha (26000 MT), forage 0.7m ha (5000MT) $150M

• Sunflower: oilseed 0.7m ha (3500MT), confection 120 k ha (600 MT) $80M

• Seed treatment: 1.4B market in USA growing at 13% CAGR

Our position

• Strong third party supplier position in sorghum with deep pipeline

• Strong branded position in sunflower

• One of two global confection focused breeding businesses

• Complete product portfolio for focus crops in seed treatment

Operations and infrastructure

• USA operations key supply source for global business.

• Operations supply chain capacity for ~25,000MT of seed

• Integration of acquisitions on plan with synergies across operations

• Co-located R&D, operations and sales in California, Texas and Minnesota

• Increased flexibility , responsive to opportunities, working capital efficiency

• Alsip site (Chicago) investment delivers a new service and custom product system

Strategic growth focus

• Product differentiation

– Beyond yield

• Sunflower: new confection types, high oleic oil

• Sorghum: high value feed, Wholis food grade sorghum

• Seed treatment: custom products and service

– Agronomic

• Water use efficiency through genetics

• New rotations and crop expansion

• Stacked disease traits, herbicide tolerance, new traits

• Partnering

– Strong relationships with technology providers, distributors and downstream

partners

• Brand

– Continued development in North American seed market

NUSEED CHINA

Andy Thomas

President, Americas & Emerging Markets

Nuseed China overview

Crop focus

• Sunflower: confection and oilseed

The market size

• Sunflower: confection 400 000 ha $100M

• Oilseed: 170 000 ha $18M

Our position

• Leading share of Chinese confection market with high value differentiated products

• Strong pipeline of new products with in country testing and strong distribution

relationships

Strategic growth focus

• Expanded in-country presence

– Focus on confection pipeline management, new and differentiated product type

and agronomic fit

– Facilitate market growth by addressing agronomic restraints on sunflower

plantings

– Growing current small oilseed sunflower position

– Introduction of quality sorghum to expanding Chinese dairy sector

• Strong relationships with key distributors with long business histories aligned with

Nuseed position

NUSEED EUROPE

Andy Thomas

President, Americas & Emerging Markets

Nuseed Europe overview

Crop focus

• Sunflower (confection and oilseed)

• Grain sorghum

• Canola

The market size

• Sunflowers: 15m ha ~$1,200M

• Sorghum: 0.5m ha $10M

• Canola: 1.5m ha $50M

Our position

• Nascent oilseed sunflower position

• Broad oilseed product pipeline and pending registrations

• Strong confection/specialty position in expanding market

• High genetic share in sorghum market through key points of access

• Testing canola products for EU fit to market

Strategic growth focus

• Products

– Sunflower with improved disease and drought tolerance for key

Eastern European market

– Confection sunflower development: new specialty products

– Sorghum expansion around the Black Sea

– Accelerated European breeding, testing and registration

• Partners

– Strong channel partners in traditional distribution and downstream processing

giving flexibility to value capture

NUSEED EMERGING MARKETS

Bill Swann

General Manager, New Technologies & Emerging Markets

Nuseed emerging markets overview

Crop focus

• Core crops

– Grain sorghum, forage, sunflower and canola

• Emerging geographies

– Southern Africa, Northern Africa and Middle East, Western Asia, India,

South East Asia, West Africa

• Emerging technology

– Energy agriculture: global opportunities

Our position

• Adapted products in core crops

• Product evaluation and market development underway

• Range of distribution options available and variously engaged

World grain sorghum production

20% 16%

10% 12%

4%

6%

3%

3%

2%

All others combine for 20%

3%

Source: USDA, Grains: World Markets and Trade November 2010

Country

Production ‘000

MT and

% of African total

production

Nigeria 7,081 (33.8%)

Sudan 4,470 (21.4%)

Ethiopia 1,538 (7.3%)

West Africa 4,000 (20%)

East/Southern

Africa 1,920 (9.5%)

Egypt 862 (4.1%)

Sorghum production in Africa

Source: International Crops Research Institute for the Semi-Arid

Tropics and Food and Agriculture Organization of the United

Nations. The World Sorghum and Millet Economies, ICRISAT,

Patancheru, India and FAO, Rome (1996).

Strategic growth focus

• Wholis and hybrid expansion in Africa and Asia

• Sunflower market development with high oleic demand rising

• Rise of industrial agricultural projects in developing world (Africa) –

higher value seed inputs

• Key market share expansion in Africa and Asia

• Increased penetration through focus on market development and

downstream partnerships

• Energy agriculture

– Capitalize on high brix sorghum synergies in sugar cane ethanol systems

– Other energy developments in dry stalk and cellulosic digestion

NUSEED SOUTH AMERICA

Daniel Hinderliter

General Manager, South America

South America overview

Crop focus

• Sorghum, sunflower, and canola

• Opportunistic crops – various forages and corn

The market size – focus crops $350M

• Argentina: $105M

• Brazil: $100M

• Uruguay: $50M

• Bolivia: $40M

• Paraguay: $45M

Our position

• Established in Argentina and Brazil, moving into Uruguay

• Sorghum: strong portfolio and pipeline, moving to traits,

15% ms volume

• Sunflower: strong portfolio, licensing moving to branded, 3% ms volume

• Canola: good products, moving to hybrids, 15% ms

• Have reached critical mass, attracting partnerships

Operations and infrastructure

• New organization

– 3 years sorghum/canola,1 year sunflower in Argentina

– 0.5 year in Brazil sorghum, sunflower, others

• Established and successful breeding programs

– Sorghum in Sunchales, Argentina

– Sunflower in Venado Tuerto, Argentina

• Seed processing by Nuseed in Argentina, third party Brazil

• 84 employees (46 Argentina, 38 Brazil)

• Sales

– Argentina: third party and branded sales

– Brazil: competitive brands, moving to Nuseed and starting third party

– Others: third party (Nuseed brand by third party in Uruguay)

Strategic growth focus

• Launch in new geographies

– Brazil, Uruguay, Bolivia and Paraguay - replace current portfolios

– Evaluate, register, produce, position, provide cropping solutions

• Strengthen sales and marketing in Argentina

– Move toward more branded sales, maintain third party

• Launch traits

– BMR millet, Monola brand canola, healthy oils, herbicide resistant sorghums,

disease resistance, energy and ethanol sorghums, food grade sorghums

• Pipeline optimization

– Dominate in grain sorghum, high value segments

– Utilize excellent worldwide breeding materials

– Expand screening locations to Brazil, Uruguay, Bolivia and Paraguay

• South American production optimization

– Excellence in import/export

– Production best practices

NUSEED AUSTRALIA

Travis Rankin

General Manager, Australia

Nuseed Australia overview

Crop focus

• Canola – hybrid & Monola

• Sorghum – grain

• Sunflower

The market size

• Canola: 2.3m ha $100M

• Sorghum: 700k ha $35M

Our position

• Canola market leader >30% market share (volume)

• Monola – enabling healthy oil conversion with key food companies

• Grain sorghum – pre-commercial with strong pipeline

• Sunflower – 80% market share high oleic (small volume)

Operations and infrastructure

Employees (number in state)

Innovation Centres

Summer hybrid testing

Winter hybrid testing

2

28

1

7

2

Strategic growth focus

• Rich pipeline: high value portfolio introductions

– Conversion of current canola base to hybrids

– Step changes in Australian canola productivity and value

• Grow Monola position with domestic and export customers

• Launch sorghum hybrid pipeline

• Develop and release new beyond yield traits in sorghum and canola

(Wholis, Omega 3, others)

SEED TREATMENT

Terry Hughes

Global Commercial Manager, Seed Treatment

Global Seed Treatment overview

• Global seed treatment market ~$3.1bn

• Market share for main players:

– Bayer 40%

– BASF 10%

– Syngenta 35%

– Other 14%

– Nufarm (~43M) 1.0%

• Market is dominated by neonicitinoids insecticides – imidacloprid and clothianidin and thiamethoxam. Value at 70%

• Market is growing to cater for protection of high value GM crop seed. NA/LA

• Strategic involvement in ST by some seed companies, ie Monsanto and vice versa.

29%

28%

20%

5%

5%

4% 3% 2%

2%

Global Seed Treatment value x Crop. Total Market $3.10bn USD

Cereals

Corn

Soybeans

Potatoes

Cotton

Oilseeds

Beets

Rice

Peas/beans

33%

25%

23%

8%

5%

6%

Global Seed Treatment Value x Region ($M USD)

North America

South America

West Europe

Asia

East Europe

Former-USSR

29%

28%

20%

5%

5%

4% 3%

2% 2%

Global Seed Treatment value x Crop. Total Market $3.10bn USD

Cereals

Corn

Soybeans

Potatoes

Cotton

Oilseeds

Beets

Rice

Peas/beans

Sunflower

Small Grains

33%

25%

23%

8% 5%

6%

Global Seed Treatment Value x Region ($M USD)*

North America

South America

West Europe

Asia

East Europe

Former-USSR

* Source: GfK Kynetec IMap

Global Seed Treatment overview

Global top 10 actives

Top 10 AI’s

Company Molecule $M US

Syngenta Thiamethoxam☺ 573

Bayer Imidacloprid☺ 464

Bayer Clothianidin☻ 408

Syngenta Fludioxonil☺ 226

BASF Fipronil☺☻ 177

Bayer Tebuconazole☺ 103

Bayer Thiodicarb☺ 82

FMC Carbofuran 77

Syngenta Mefenoxam☻

metalaxyl☺

73

22

Chemtura Carboxin☻ 68

25%

21%

18%

10%

8%

5%

4%

3% 3% 3%

Top 10 Global Seed treatment AI's ~ $2.2bn

Total Market $3.1bn

Thiamethoxam

Imidacloprid

Clothianidin

Fludioxonil

Fipronil

Tebuconazole

Thiodicarb

Carbofuran

Metalaxyl-M

Carboxin

☺Basic ☻Third party supply

Source: AMIS Global Agrochem Data,

Harvest Year 2010 with AI Sales.xls”

Top 15 countries by crop value

Top 15 countries equates to 92% of the total value.

Top 10 countries equates to 85% of the total value. Source: GfK Kynetec IMAP

COUNTRY

Product value

(000 US$) Corn Soybean Cereals Cotton Potatos

Small

Grains Beet Rice

Ground

Nuts

Peas &

Beans OSR Sunflower Vegetables

U S A [2009] 853 437 232 52 69 38 8 15 2

Brazil [2009] 551 177 303 27 19 15 1 9

France [2009] 337 48 235 8 34 1 12

Germany [2009] 210 8 129 24 25 24

China [2009] 162 67 30 30 20 6 1 2 1 2

Canada [2009] 154 2 7 55 17 22 51

Argentina [2009] 125 39 46 18 2 2 2 1 1 2 8

Russian Fed. [2009] 90 79 7 1 2

U K [2009] 87 1 63 4 8 3 9

Ukraine [2008] 60 1 44 10 1 2 2 1

Poland [2009] 56 9 29 9 1 9

Mexico [2009] 51 39 4 1 4 2

India [2009] 45 2

Japan [2009] 35 3 2 1 27 1

Romania [2009] 30 8 15 2 4

TOTAL Top 15 2,847 836 621 783 111 121 14 84 48 5 42 109 16 3

Top 15 Countries Sales x Crop ($M USD)

• Protection of high value GM crop seed.

• Reduced operator and environmental exposure to pesticides.

• Protection of early sown seed aimed at higher yields = higher

disease risk.

• Adoption of reduced tillage sowing encourages increased

pressure from some insects/diseases.

• Reduce the need for early in crop fungicide/insecticide applications.

• Improve plant stands and uniformity => yields.

Key drivers

Nufarm Global Seed

Treatment position

Why and how we see success in ST at Nufarm

Vision

• Position Nufarm as the, premium second tier supplier in key

geographies of NA/WE and LA

• Bring innovation and differentiation to the market via formulations,

mixtures, partnerships and select new technologies.

• Non aligned proprietary allows for flexibility and diversity

• Develop NA/WE and LA with priority and spill to other Regional

markets such as Asia

• Increase value capture from current and future Nufarm seed

companies via seed treatment

Statement of intent

Seed treatment is a strategic plank in Nufarm's strategy and

we will continue investment in data to achieve expansive growth.

• Imidacloprid

– Significant investment in data (EU/USA) to support global registrations

• Tebuconazole

– Investment in base data to support European registrations & TDMG

• Myclobutanil

– Triazole Taskforce investment needed for USA- support all triazoles

• Fludioxonil

– Data compensation investment for the US

• Wild Birds & Mammals Task Force & Seed TROPEX

• Nufarm is investing in our portfolio

Nufarm data investment

Source : Philips Mc Dougal

Distribution rights

Ai purchase/formulation and sale

Future Development Target

Top 10 seed treatments and Nufarm

Global Seed Treatment 2013 = 75 Registrations

Registered

Pending

15

4

3 6

16

32

1

Global Seed Treatment 2016 = ~122 Registrations

14

6

5 7

19

69

1

1

Registered

Pending

Nufarm formulation investment

107

Raleigh

Calgary

Lytton

Auckland

Laverton

Fortaleza

France – Gaillon / Paris

Manufacturing seed treatments in 5 countries

Marketing operations in more than 25 countries

Manufacturing

Formulation Development

Chicago

• Building formulations

• Formulation site capability

• Registration skills

• Regulatory management

• Knowledge of gene technologies {Nuseed influence}

• Seed laboratories {seed safety and efficacy/ compatibility}

• The nurturing culture of seed genetics and hybrids

• Selection and development of staff with core competencies

Utilisation of resources

Manufacturing: Chicago, Illinois

• Focus for seed treatment

• Custom blending

• State of the Art milling

facilities

• Designed with flexibility in

mind

– Support SC & EC

fungicides/insecticides

Nuseed alignment with core crops

• Customised crop solutions

through unique molecule

stacks and formulation

– Imidacloprid

– Thiram

– Fluquinconazole

– Metalaxyl

– Fludioxonil

– Azoxystrobin

– Fluxofenim

Core competencies in Seed Treatment

• A specialist organisation intent on creating value

• Strong product development capability

• Access to new technologies and biological treatments

• Country based experience with seed treatment

• Formulation development and manufacture... unique formulations

• Investment in data, facilities and people ahead of competitors

• Diverse portfolio not easily available to other participants

NUFARM SEED TREATMENTS | GET SEEDS OFF TO A STRONG START

SUMMARY & CLOSING REMARKS