Polarcold sale – condition date extension

7 February 2019 Polarcold sale - condition date extension As previously advised to the market, Scales sold its coldstorage businesses (Polarcold Stores Limited and Whakatu Coldstores Limited) to Emergent Cold on 9 May 2018, subject to the sole condition of Overseas Investment Office (OIO) approval. The sale agreement required that this condition be met by 9 February 2019. Given that the process of obtaining OIO approval remains ongoing, Scales and Emergent Cold have agreed to extend the condition date, from 9 February 2019 to 31 May 2019. Contact: Steve Kennelly Chief Financial Officer Scales Corporation Limited +64 3 371 2263 / +64 274 317587 About Scales Corporation Scales Corporation is a diversified agribusiness group. It comprises three operating divisions: Horticulture, Storage & Logistics and Food Ingredients. The company's diverse spread of activities gives Scales broad exposure to New Zealand's agribusiness sector. Scales was founded in 1897 as a shipping business by George Herbert Scales. Today it employs more than 700 staff New Zealand wide. Find out more at www.scalescorporation.co.nz End CA:00330255 For:SCL Type:GENERAL Time:2019-02-07 08:35:39