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National coverage. Contents

Introduction 4

Key 2016 Highlights 6

Managing Director and

Chairman's Report 8

Sustainability Report 20

Divisional Overview 28

Leadership Profiles 42

Financial Statements 46

Independent Auditor's Report 80

Corporate Governance 84

Remuneration Report 88

Director Disclosures 92

Glossary 98

Directory 99

2 Scales Corporation Limited

Global presence.

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Annual Report- Year Ended 31 December 2016

INTRODUCTION

Growing your diversified agribusiness.

We like to think that New Zealand is the best place in the world for growing and producing the highest quality food and ingredients.

At Scales we take immense pride in helping to grow New Zealand's agribusiness sector in a manner that is sustainable. We do this through our vertically integrated Horticulture division, by providing critical cold chain and logistics services to key food exporters in our Storage & Logistics division, and by converting agricultural by-products into

high quality ingredients in our Food Ingredients division.

In our 105th year Scales achieved and delivered on a number of key developmental milestones. These are discussed in the pages that follow, but include new heights of financial performance, organic and acquisition growth, and improved access and networks into the significant China market.

4 Scales Corporation Limited

Scales Corporation Limited published this content on 29 March 2017 and is solely responsible for the information contained herein.
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