NEWS RELEASE

31 March 2017

Allied Mills sale completes

GrainCorp confirms the completion of the sale of its investment in Allied Mills Australia Pty Ltd ("Allied Mills") to funds advised by Pacific Equity Partners "PEP" following regulatory approvals.

Proceeds from the transaction are expected to be $190 million (pre-tax and transaction costs). As outlined in our announcement of 31 January 2017, in addition to the consideration, GrainCorp is also receiving the benefit of $35 million of franking credits.

"GrainCorp wishes PEP/Pinnacle the best for the future and we thank the team at Allied Mills for their years of hard work and innovation. We look forward to maintaining our close working relationship with them for many years into the future," GrainCorp Managing Director & CEO Mark Palmquist said.

FURTHER INFORMATION

Media:

Angus Trigg

Director, Government & Media Relations

+61 2 9325 9132

+61 413 946 708

atrigg@graincorp.com.au

Investors:

Luke Thrum

Investor Relations Manager

+61 2 9266 9217

+61 447 894 834

luke.thrum@graincorp.com.au

Luke O'Donnell

Corporate Communications Manager

+61 2 9266 9465

+61 447 660 804

luke.odonnell@graincorp.com.au

GrainCorp Limited (ASX:GNC)

Level 28, 175 Liverpool Street

Sydney NSW 2000

T 02 9325 9100

F 02 9325 9180

ABN 60 057 186 035 graincorp.com.au

Graincorp Limited published this content on 31 March 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 31 March 2017 01:54:10 UTC.

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