SELECT HARVESTS LIMITED — Capital/Financing Update 2024

Appendix 3B - Proposed issue of securities

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Update Summary Entity name SELECT HARVESTS LIMITED Announcement Type Update to previous announcement Date of this announcement 20/9/2024 Reason for update to a previous announcement Retail Entitlement Offer issue date corrected Refer to next page for full details of the announcement

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Appendix 3B - Proposed issue of securities

Part 1 - Entity and announcement details

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1.1 Name of +Entity

SELECT HARVESTS LIMITED

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).

1.2 Registered Number Type

ABN

Registration Number

87000721380

1.3 ASX issuer code

SHV

1.4 The announcement is

Update/amendment to previous announcement

1.4a Reason for update to a previous announcement

Retail Entitlement Offer issue date corrected

1.4b Date of previous announcement to this update

20/9/2024

1.5 Date of this announcement

20/9/2024

1.6 The Proposed issue is:

An accelerated offer A placement or other type of issue

1.6b The proposed accelerated offer is

Accelerated non-renounceable entitlement offer (commonly known as a JUMBO or ANREO)

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Appendix 3B - Proposed issue of securities

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Part 3 - Details of proposed entitlement offer issue

Part 3A - Conditions

3A.1 Do any external approvals need to be obtained or other conditions satisfied before the entitlement offer can proceed on an unconditional basis? No

Part 3B - Offer details

+Class or classes of +securities that will participate in the proposed issue and +class or classes of +securities proposed to be issued

ASX +security code and description

SHV : ORDINARY FULLY PAID

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? Existing class

Will the proposed issue of this If the entity has quoted company +security include an offer of options, do the terms entitle option attaching +securities? holders to participate on exercise? No No

Details of +securities proposed to be issued

ASX +security code and description

SHV : ORDINARY FULLY PAID

ISIN Code (if Issuer is a foreign company and +securities do not have +CDIs issued over them)

ISIN Code for the entitlement or right to participate in the offer (if Issuer is foreign company and +securities do not have +CDIs issued over them)

Offer ratio (ratio to existing holdings at which the proposed +securities will be issued) Has the offer ratio been determined? Yes

The quantity of additional +securities For a given quantity of +securities to be issued held 5 46 What will be done with fractional Maximum number of +securities entitlements? proposed to be issued (subject to

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rounding)

Fractions rounded down to the nearest 13,158,551 whole number or fractions disregarded

Offer price details for retail security holders

Has the offer price for the retail offer been determined?

Yes

In what currency will the offer be What is the offer price per +security made? for the retail offer? AUD - Australian Dollar AUD 3.80000

Offer price details for institutional security holders

Has the offer price for the institutional offer been determined?

Yes

In what currency will the offer be made?

What is the offer price per +security for the institutional offer? AUD 3.80000

AUD - Australian Dollar

Oversubscription & Scale back details

Will individual +security holders be permitted to apply for more than their entitlement (i.e. to over-subscribe)?

Yes

Describe the limits on over-subscription

Eligible retail shareholders who take up their full Entitlement will be invited to apply for additional shares in the Retail Entitlement Offer from a pool of those not taken up by other eligible retail shareholders up to a maximum of 50% of their Entitlement at the issue price in a 'top-up facility'. Further details on oversubscription will be set out in the Retail Entitlement Offer information booklet.

Will a scale back be applied if the offer is over-subscribed?

Yes

Describe the scale back arrangements

If there are oversubscriptions by eligible retail shareholders, SHV reserves the right to scale back applications for additional new shares on a pro rata basis.

Further details on the scale back arrangements will be set out in the Retail Entitlement Offer information booklet.

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Part 3D - Timetable

3D.1a First day of trading halt

20/9/2024

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3D.1b Announcement date of accelerated offer

20/9/2024

3D.2 Trading resumes on an ex-entitlement basis (ex date)

23/9/2024

3D.5 Date offer will be made to eligible institutional +security holders

20/9/2024

3D.6 Application closing date for institutional +security holders

20/9/2024

3D.8 Announcement of results of institutional offer

(The announcement should be made before the resumption of trading following the trading halt)

23/9/2024

3D.9 +Record date

24/9/2024

3D.10a Settlement date of new +securities issued under institutional entitlement offer

26/9/2024

3D.10b +Issue date for institutional +security holders

27/9/2024

3D.10c Normal trading of new +securities issued under institutional entitlement offer

27/9/2024

3D.11 Date on which offer documents will be sent to retail +security holders entitled to participate in the +pro rata issue

26/9/2024

3D.12 Offer closing date for retail +security holders

10/10/2024

3D.13 Last day to extend retail offer close date

7/10/2024

3D.19 +Issue date for retail +security holders and last day for entity to announce results of retail offer

17/10/2024

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Part 3E - Fees and expenses

3E.1 Will there be a lead manager or broker to the proposed offer? Yes

3E.1a Who is the lead manager/broker?

Bell Potter Securities Limited ACN 006 390 772

Barrenjoey Markets Pty Limited ACN 636 976 059

3E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?

The lead managers are entitled to an offer management fee of 1% of the offer proceeds (less the proceeds provided by directors and senior management).

3E.2 Is the proposed offer to be underwritten?

Yes

3E.2a Who are the underwriter(s)?

Bell Potter Securities Limited ACN 006 390 772 Barrenjoey Markets Pty Limited ACN 636 976 059

3E.2b What is the extent of the underwriting (ie the amount or proportion of the offer that is underwritten)?

The Placement and Entitlement Offer is fully underwritten

3E.2c What fees, commissions or other consideration are payable to them for acting as underwriter(s)?

The underwriters are entitled to an underwriting fee of 2% of the offer proceeds (less the proceeds provided by directors and senior management).

3E.2d Please provide a summary of the significant events that could lead to the underwriting being terminated

A summary of the significant events that could lead to the underwriting being terminated is provided the summary of the Underwriting Agreement terms in the Investor Presentation announced to the ASX on Friday, 20 September 2024.

3E.2e Is a party referred to in listing rule 10.11 underwriting or sub-underwriting the proposed offer? No

3E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a handling fee or commission? No

3E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed offer

The details of any other material fees or costs to be incurred by the entity in connection with the proposed issue are provided in the Investor Presentation announced to the ASX on Friday, 20 September 2024.

Part 3F - Further Information

3F.1 The purpose(s) for which the entity intends to use the cash raised by the proposed issue

Primarily repay debt and provide balance sheet flexibility, increase capital investment to increase capacity at a processing facility and fund the capital raising transaction costs.

3F.2 Will holdings on different registers or subregisters be aggregated for the purposes of determining entitlements to the issue?

No

3F.3 Will the entity be changing its dividend/distribution policy if the proposed issue is successful? No

3F.4 Countries in which the entity has +security holders who will not be eligible to participate in the proposed issue

SHV shareholders in any country other than Australia, New Zealand, Singapore, Hong Kong, Norway and United Kingdom.

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3F.5 Will the offer be made to eligible beneficiaries on whose behalf eligible nominees or custodians hold existing +securities No 3F.6 URL on the entity's website where investors can download information about the proposed issue

https://selectharvests.com.au/investing-in-select-harvests/

3F.7 Any other information the entity wishes to provide about the proposed issue

No

3F.8 Will the offer of rights under the rights issue be made under a +disclosure document or product disclosure statement under Chapter 6D or Part 7.9 of the Corporations Act (as applicable)? No

3F.9 Any on-sale of the +securities proposed to be issued within 12 months of their date of issue will comply with the secondary sale provisions in sections 707(3) and 1012C(6) of the Corporations Act by virtue of: The publication of a cleansing notice under section 708A(5), 708AA(2)(f), 1012DA(5) or 1012DAA(2)(f)

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Appendix 3B - Proposed issue of securities

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Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

7A.1 Do any external approvals need to be obtained or other conditions satisfied before the placement or other type of issue can proceed on an unconditional basis? No

Part 7B - Issue details

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? Existing class

Will the proposed issue of this +security include an offer of attaching +securities? No

Details of +securities proposed to be issued

ASX +security code and description

SHV : ORDINARY FULLY PAID

Number of +securities proposed to be issued

7,894,737

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration? Yes

In what currency is the cash What is the issue price per consideration being paid? +security? AUD - Australian Dollar AUD 3.80000

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

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Part 7C - Timetable

7C.1 Proposed +issue date

27/9/2024

Part 7D - Listing Rule requirements

7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? No

7D.1b Are any of the +securities proposed to be issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes

7D.1b ( i ) How many +securities are proposed to be issued without security holder approval using the entity's 15% placement capacity under listing rule 7.1?

7,894,737 shares under the Placement

7D.1c Are any of the +securities proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? No

7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? No

7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? No

7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? No

Part 7E - Fees and expenses

7E.1 Will there be a lead manager or broker to the proposed issue? Yes

7E.1a Who is the lead manager/broker?

Bell Potter Securities Limited ACN 006 390 772 Barrenjoey Markets Pty Limited ACN 636 976 059

7E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?

The lead managers are entitled to an offer management fee of 1.00% of the offer proceeds (less the proceeds provided by directors and senior management).

7E.2 Is the proposed issue to be underwritten? Yes

7E.2a Who are the underwriter(s)?

Bell Potter Securities Limited ACN 006 390 772 Barrenjoey Markets Pty Limited ACN 636 976 059

7E.2b What is the extent of the underwriting (ie the amount or proportion of the proposed issue that is underwritten)?

The Placement is fully underwritten

7E.2c What fee, commission or other consideration is payable to them for acting as underwriter(s)?

The underwriters are entitled to an underwriting fee of 2.00% of the offer proceeds (less the proceeds provided by directors and senior management).

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7E.2d Please provide a summary of the significant events that could lead to the underwriting being terminated.

A summary of the significant events that could lead to the underwriting being terminated is provided the summary of the Underwriting Agreement terms in the Investor Presentation announced to the ASX on Friday, 20 September 2024.

7E.3 Is a party referred to in listing rule 10.11 underwriting or sub-underwriting the proposed issue? No

7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue

The details of any other material fees or costs to be incurred by the entity in connection with the proposed issue are provided in the Investor Presentation announced to the ASX on Friday, 20 September 2024.

Part 7F - Further Information

7F.01 The purpose(s) for which the entity is issuing the securities

Primarily repay debt and provide balance sheet flexibility, increase capital investment to increase capacity at a processing facility and fund the capital raising transaction costs.

7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? No

7F.2 Any other information the entity wishes to provide about the proposed issue

No

7F.3 Any on-sale of the +securities proposed to be issued within 12 months of their date of issue will comply with the secondary sale provisions in sections 707(3) and 1012C(6) of the Corporations Act by virtue of: The publication of a cleansing notice under section 708A(5), 708AA(2)(f), 1012DA(5) or 1012DAA(2)(f)

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