INSTITUTIONAL-GRADE CITRUS ORCHARD + 2,717ML*

LAWD is pleased to present for sale Nericon Citrus, one of Australia's largest and most strategically positioned citrus orchards, underpinned by first-class irrigation infrastructure, secure water entitlements and a strong production outlook at maturity (~23,600 tonnes by 2030). KEY INVESTMENT HIGHLIGHTS INCLUDE: A highly productive citrus orchard comprising 557* hectares in total, of which 468* hectares has been developed to citrus varieties including Navel Oranges (314* hectares) and Red Flesh Navel Oranges (84* hectares), Afourer Mandarins (51* hectares) and Seedless Lemons (18* hectares). Extensive capital expenditure projects have repositioned the orchard into a premium fresh-citrus operation, delivering high-yield varietals and an extended May-September harvest window, maximising operational efficiencies, unlocking broad, higher-value market access. The orchard benefits from 89* hectares of protective netting and 29 automated frost fans delivering robust climate resilience and supporting superior yield performance. Production is set to scale rapidly, with yields forecast to increase from ~6,150 tonnes in 2025 to ~23,600 tonnes by 2030 as the orchard reaches full maturity, underpinning a projected FY30 EBITDA of approximately $13.04 million. First-class irrigation infrastructure (double-drip system) is underpinned by secure access to the Murrumbidgee Irrigation Area (MIA) network, supported by 2,717* megalitres of High Security water entitlements and 5,775* Delivery Entitlements. Excellent fit-for-purpose infrastructure includes five machinery sheds, two workshops, a chemical shed, a fertiliser shed, 29 automated frost fans, an office and a residence, supporting efficient and scalable operations. Productivity of the landholding is enhanced by well-drained red sandy loam soil types, a temperate climate and first-class irrigation and fertigation systems. Future development upside includes additional protective netting across three planned phases (89* hectares in Phase Two, 120* hectares in Phase Three and 122* hectares in Phase Four), along with targeted upgrades to machinery, plant and equipment to further enhance operational efficiencies. Current processing facilities at Griffith (10* linear kilometres), Leeton (47* linear kilometres), Shepparton (250* linear kilometres), Mildura (360* linear kilometres) Melbourne (412* linear kilometres) and Brisbane (998* linear kilometres). Strategically located in the renowned Riverina region of southern New South Wales, one of the most productive horticulture regions of Australia, 10* linear kilometres north of Griffith, 40* linear kilometres north of Darlington Point, 75* linear kilometres north-west of Narrandera, 115* linear kilometres north-east of Hay, 155* linear kilometres north-west of Wagga Wagga, 412* linear kilometres north of the Melbourne CBD and 475* linear kilometres west of Sydney CBD. A highly experienced management team has developed and managed the asset for the last seven years and brings an on-farm team with 50+ years of collective operational farm management experience, providing investors with the option of a seamless turn-key investment opportunity. For Sale by Expression of Interest *approximately