CFO Appointment

Allied Farmers Ltd
201 Broadway, Stratford, 4332
PO Box 304, Stratford 4352

Web: http://www.alliedfarmers.co.nz
Email: headoffice@alliedfarmers.co.nz


21 October 2025

announce@nzx.com


CFO APPOINTMENT

Allied Farmers Limited (NZX: ALF) is pleased to announce the appointment of Stephen Reid
as Chief Financial Officer, effective 17 November 2025.

Stephen is a highly experienced finance professional with extensive commercial and
leadership experience. His appointment is in anticipation of the conditional sale of Allied
Farmer’s subsidiary, New Zealand Farmers Livestock Limited, to Rural Livestock Limited.

Allied’s current Chief Financial Officer, Brian Lee, who is employed by NZ Farmers Livestock
but has provided Chief Financial Officer support to Allied Farmers, will remain with New
Zealand Farmers Livestock as its Chief Financial Officer.

Allied’s Managing Director, Richard Milsom, said: “Brian has made a valuable contribution to
Allied Farmers over many years, and been instrumental in strengthening the Group’s financial
management. We wish him every success as he continues his role with New Zealand Farmers
Livestock.”

Stephen will work closely with Brian to ensure a smooth transition of responsibilities.

Stephen Reid Biography

Stephen Reid, a Chartered Accountant, is a highly experienced finance and accounting
executive with more than 20 years’ experience within the property and investment
management industries. His experience crosses both NZX Listed and privately owned
businesses and he is currently the Chief Financial Officer with The Icon Group, a privately
owned commercial real estate investment business. He brings considerable prior experience
within the Listed Property Sector having spent the early part of the his career in accounting,
analytical and Investor Relation roles, including covering the sector as a sell-side analyst for
First NZ Capital (now Jarden).


Shelley Ruha
Chair

For more information:
Richard Milson richard@nzrlm.co.nz
ph. 021 274 2476