Senwes Integrated Reports Senwes 2018/2019 Integrated Report (b) | Page 2

A NEW PERSPECTIVE THEME INTEGRATED REPORT 2019 Providing solutions in this environment The theme of the 2019 report indicates Senwes’ approach to agri­ culture. Even though many aspects remain the same year after year, fresh and innovative thinking is needed to change, adapt and improve what we offer, what we do and how we serve. To rede- fine the way in which we approach solutions and generate value for our stakeholders, to change challenges into opportunities with long-term benefits and to do away with traditional thoughts and processes, embracing a new perspective on agriculture. A SEASON OF EXTREMES The 2018/2019 season was characterised by the hottest summer in 30 years, with average temperatures in the Senwes area of operation increasing by at least 3°C compared to the previous 30 summers. With below average rainfall in the latter part of 2018 and successive heat waves which kept average temperatures above the 30°C mark for up to a week at a time, the planting season for maize, late October to mid-December, was closing at a rapid pace. Heavy rains in late December and in parts of January gave farmers hope, as the soil was damp enough to plant. Last year, the rains came similarly late in December and farmers managed to plant their entire crop in just a week. Those crops fully deve­ loped before having to face frost and the 2018 harvest yielded a crop of 12,5 million tonnes, resulting in carry-over stock levels of close to 2,7 million tonnes. This year, however, was different due to the fact that temperatures stayed higher for longer, which placed unrelenting pressure on crops. Late plantings also left farmers exposed to sudden drops in temperature during autumn, when they had to face the risk of frost damaging the crops. On top of the severe climate conditions farmers had to endure, they were also struck by an outbreak of foot-and-mouth disease, which led to a ban on SA beef in key export markets. This resulted in meat prices, which account for more than a third of the food inflation basket, being under pressure and an oversupply of domestic meat. However, the financial year ended with the highest average rainfall for April (188,7 mm) in the Senwes area of operation in the last 104 years. This meant that tempera- tures stayed high, which kept frost at bay and gave the planted crops enough time to grow to full size. ON THE COVER This photo taken early February 2019 on the farm of one of Senwes’ clients near Viljoenskroon in the Free State, creates a backdrop for the 2018/2019 financial year and emphasises that being a farmer in South Africa, requires a certain set of skills that cannot be obtained overnight. Farmers have to be financial planners, weather experts, risk managers, agronomists, technology managers, mechanical experts, market analysts, marketers and logistical managers, all in one. With that comes the added responsibility of providing food for the nation, which sometimes means working from dawn till dusk to plant or harvest the food that South Africans need every day. SENWES INTEGRATED REPORT 2019 1