Important Information

This Information Memorandum is issued by Circular Head Farms Advisory Pty Ltd ACN 680 654 175 (Arranger) . The Arranger is a corporate authorised representative (No. 001311828) of Bardin Capital Pty Ltd AFSL 247858 (Licensee). This Information Memorandum (IM) is provided to potential Investors on a personal and private basis. It is indicative only and may be subject to change by the directors of the Trustee.

Circular Head Farming Group Pty Ltd ACN 167 323 104 (Trustee and Issuer) is the Trustee of the Circular Head Farming Trust (Trust) and is a corporate authorised representative (No. 001280452) of Bardin Capital Pty Ltd AFSL 247858 (Licensee). Units in the Trust are issued pursuant to an intermediary authorisation between the Trustee and the Licensee for the purposes of section 911A(2)(b) of the Corporations Act.

The Trust, at the date of this Information Memorandum, is not required to be, and is not, registered as a managed investment scheme pursuant to section 601ED of the Corporations Act. This IM is not a product disclosure statement for the purposes of Part 7.9 of the Corporations Act. The Offer in this IM is only available for acceptance by Investors in relation to which the Offer is excluded from the requirement to provide a product disclosure statement for the purposes of Part 7.9 of the Corporations Act.

Units will only be issued on receipt of a validly completed Application Form issued together with this IM, and the receipt of cleared funds. The Offer or invitation to subscribe for Units is subject to the terms and conditions described in this IM.

The distribution of this IM and the Offer is restricted to Australian resident Investors. Investment from non-Australian resident Investors will not be accepted.

This IM does not purport to contain all the information that a prospective Investor may require in evaluating a possible investment in the Trust.

The Trustee reserves the right to evaluate any applications and to reject any or all applications submitted, without giving reasons for rejection. The Trust and the Trustee are not liable to compensate the recipient of this IM for any costs or expenses incurred in reviewing, investigating or analysing any information in relation to the Trust, in submitting an application or otherwise.

No cooling off applies to the issue of Units.

This IM must be read in conjunction with the Trust Deed. Prospective Investors should review the Trust Deed for further information regarding the rights and obligations of Investors of the Trust. To the extent there are any inconsistencies between the Trust Deed and this IM, the Trust Deed will prevail.

In providing this IM, the Trustee has not taken into account the recipient’s objectives, financial situation or needs and accordingly the information contained in this Information Memorandum does not constitute personal advice for the purposes of section 766B(3) (“personal advice”) of the Corporations Act. None of the Trustee, or its related parties, officers, employees, consultants, advisers or agents warrant that an investment in the Units is a suitable investment for the recipient.

None of the Trustee or its related parties, officers, employees, consultants, advisers or agents have carried out an independent audit or independently verified any of the information contained in this IM, nor do they give any warranty as to the accuracy, reliability, currency or completeness of the information or assumptions contained in this IM, nor do any of them, to the maximum extent permitted by law, accept any liability whatsoever however caused to any person relating in any way to reliance on information contained in this IM or any other communication or the issue of Units.

The Trustee strongly recommends that potential Investors read this IM in its entirety and seek independent professional advice as to the financial, taxation and other implications of investing in the Trust and the information contained in this IM.

None of the Trustee or its related parties, officers, employees, consultants, advisers or agents, guarantee the repayment of capital invested in the Trust, the payment of income from the Trust or the performance of the Trust or an investment in the Trust generally. As with any investment, there are inherent risks in investing in the Trust and the Trustee, including the risk that an investment is speculative, that the investment may result in a reduction in, or total loss of, the capital value of the investment, loss of income and returns that are less than expected or delays in repayment of capital.

See Section 8 (Risks of Investing) for further information about the risks involved in making an investment in the Units.

The contents of this IM are:

1 not intended to be disclosed to any person other than the person to whom this IM has been provided to by the Trustee;

2 strictly confidential; and

3 not to be reproduced, either in whole or in any part or parts, without the Trustee’s prior written consent and, if such written consent is given, only in accordance with that consent.

It is important that potential Investors read the entire IM before making any decision to invest in the Trust. In particular, it is important that potential Investors consider the risks outlined in Section 8 (Risks of Investing) that could affect the performance of an investment.

Neither the Arranger nor the Trustee have authorised any person to give any information or make any representations in connection with the Trust which are not in this IM and if given or made such information or representations must not be relied upon as having been authorised by the Arranger or Trustee. Any other parties distributing this product to Investors are not the Arranger’s or the Trustee’s agent or representative and are doing so on their own behalf. The Trust, the Arranger and the Trustee are not responsible for any advice or information given, or not given, to potential Investors by any party distributing this product and, to the maximum extent permitted by law, accept no liability whatsoever for any loss or damage arising from potential Investors relying on any information that is not in this IM when investing.

The primary language of this document is English. This document may be translated into different languages. Any translations provided are for reference purposes only. If there is any inconsistency or conflict between the English version of this IM and versions of this IM in any other language, the English version prevails.

All references to $ amounts are references to Australian Dollars.

A glossary of terms used in this IM is included in Section 11 (Glossary).

The information in this IM is general information only and does not take into account your financial situation, objectives or needs. The information can change, and may be updated or replaced from time to time. The Trustee may not always update or replace this IM to reflect the changed information and is under no responsibility to do so. Updated information can be obtained by contacting the Arranger or your adviser. You should check if there is any updating information before you invest.