Sugar Terminals : Working for You – 18 September 2023

Welcome to the latest edition of STL's 'Working For You' newsletter. This newsletter is issued fortnightly to keep the Sugar Industry updated about STL's activities and reinforces our commitment to your assets and servicing our customers. Please encourage your family, friends and neighbours to subscribe by simply clicking the button below. We look forward to any feedback you may have or stories you would like covered - we can be reached directly [e-mail]

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FNQ MEETING WITH GROWERS & SHAREHOLDERS G Class Director Stephen Calcagno accompanied by STL's CEO, David Quinn have recently undertaken further meetings with Shareholders and Growers in the Tully Region. These sessions provide an ideal opportunity for STL to talk about our operational and financial performance and importantly upcoming capital investment that is planned across the Bulk Sugar Terminals all of which is funded by STL. During our most recent visits we took the opportunity to meet with local Canegrower Representatives and Tully Sugar Mill. We look forward to continuing to engage across the State so look out for an upcoming briefing in your Region. Pictured below is one of the briefings held in Tully.

MACKAY REGION UPDATE FROM STL DIRECTOR

Tony Bartolo, one of STL's two Grower Directors advises that despite local showers in the Central Region over the past week, CCS levels are still on the rise and most growers are either in the final stages of or recently completed planting. Harvesting continues at pace and the image is the view taken from the Haulout being driven by Tony which evidences the 3.30am starts in order to improve bin utilisation for the Mill. We hope the weather continues to trend favourably across all regions.

FIRE SYSTEM UPGRADES

The storage sheds at STL's bulk sugar terminals provide the Queensland sugar industry with a competitive advantage in the world market, allowing sugar to be stored and sold in the off-season at premium prices. Across our six terminals, the sheds have a combined capacity of almost 2.5 million tonnes of sugar. With such significant stock holdings STL takes this responsibility very seriously, making every effort to safeguard that stock from loss. A shed fire would be a disaster, so STL ensures that the fire protection systems are well maintained. This year, STL has budgeted $1.8 million to maintain and upgrade the fire systems at all terminals. This includes upgrading the fire indicator panels to current technology at every terminal, reconfiguring the deluge valves in Townsville Shed 3 to improve their maintainability and general system improvements to keep up with current fire standards. STL's insurers, FM Global, also audit every terminal every year and provide expert fire engineering advice to provide a high level of assurance that the systems are in good working order. Pictured is the main fire pump at Bundaberg and the existing fire indicator panel at the Mackay terminal.

STL BRIEFS DEFENCE ON IMPORTANCE OF CAIRNS TERMINAL

STL's CEO David Quinn, recently had the opportunity to brief senior representatives from the Department of Defence (Navy & Army) along with senior State Government Officials from the Department of State Development (DSD). The focus of the briefing was to detail the importance of the Cairns Bulk Sugar Terminal and the critical role it plays in supporting the local sugar industry and our ability to efficiently store and export raw sugar to our international customers. During these meetings, STL reinforced the investment that has been made in the Terminal, most recently the replacement of the Shiploader Cabin, a capital upgrade funded by STL. Pictured are Defence and DSD Representatives undertaking a Port tour along with a subsequent meeting at the DSD Offices in Cairns

PROFIT ANNOUNCEMENT & ANNUAL REPORT

On the 6thof September 2023 the STL Board released the financial results for the year ending on 30 June 2023 announcing a 4.6% improvement in net profit after tax to $29.2 million. The STL Chair Mark Gray, noted that "STL's strong performance in FY23 is the result of a consistent and carefully considered strategy aimed at delivering sustainable, globally competitive storage and handling solutions that continue to benefit our customers and shareholders over the long term. The Board is very conscious of the vital role STL plays in the Queensland sugar industry and the need to provide stability, reliability and efficiency for all industry participants" Full details including a copy of the STL Annual Report can be downloaded by clicking the image or by accessing:www.sugarterminals.com.au