Barambah Organics Purchases

Organic Yoghurt Company five:am

12.05.2021

MELBOURNE, Australia – Barambah Organics (“Barambah”) is pleased to announce its purchase of

five:am (the “Company”), a leading organic yoghurt business sold across Australia.
Barambah will purchase 100% of the Company from PZ Cussons and will sit five:am alongside their
existing brands. Barambah, based in Queensland, will continue to invest in its premium artisan
position as a true paddock to plate dairy business with the five:am yoghurt acquisition offering
complementary geographies, channels, and brand differentiation.

In October 2020, Tanarra Capital invested in Barambah Organics alongside the founders who
retained a significant shareholding. This follow-on investment in five:am was led by the Barambah
Organics management team Matthew Stanton (CEO) and Mark Richards (CFO), supported by Tom
Forde from Tanarra Capital’s private equity team.

Matthew Stanton said, “We are thrilled to add such a great Australian brand to our portfolio and we
look forward to realising five:am’s full potential. We intend to take the five:am brand back to its roots,
partnering with farmers in sustainable and regenerative practices, investing in product innovation and
being a fun, accessible, organic brand. We will be continuing on with five:am’s operations such that
there is no interruption to customers and intend to invest in brand re-invigoration and growth. We are
wholly committed to continue investing in and growing both five:am and Barambah Organics”

Tom Forde said, “We are very pleased to announce the acquisition of five:am. For Barambah
Organics it also unlocks some great capability and resources to help grow Barambah Organics as the
leading premium organic and sustainable dairy brand. By sitting the Barambah Organics and five:am
brands alongside each other, we are well positioned as the 100% Australian owned, leading organic
dairy business in Australia.”

PZ Cussons acquired five:am from its founder in 2014 and following its recent global strategy review,
the business determined that the yoghurt category would not form part of its forward plans in Australia
and New Zealand (“ANZ”).

Rob Spence, Managing Director, PZ Cussons ANZ said, “Barambah Organics will be an excellent
home for five:am. I am confident the brand, its employees and customers will be in good hands
working alongside Barambah, which has a strong team and the capabilities to drive investment and
growth for five:am in the future.”

About five:am
Founded in 2010, five:am is the leading organic yoghurt brand in Australia with a strong presence
across the major supermarkets. Five:am offers a range of organic flavoured and natural yoghurts
made from 100% natural ingredients and free from pesticides and hormones. The Company runs its
state-of-the-art facility in Carrum Downs, just outside of Melbourne.

About Barambah Organics

Barambah Organics is a multi-award winning, premium organic dairy company. Barambah produced
its first bottle of milk in March 2002 and now its milk, yoghurt, cream, and cheese products are sold in
over 800 stores across Australia and internationally. Barambah is a vertically integrated dairy
business, sourcing its milk from its own farming operations spread across 3 properties in Goondiwindi,
QLD, and Raleigh, in the Bellingen region of NSW. It’s how dairy is meant to be.

About Tanarra
Tanarra is an Australasian alternative asset firm led by a group of experienced investment
professionals. It has funds under management in excess of A$1.7bn across its operations in private
equity, private credit, restructuring debt, venture capital and selected strategic investments in public
companies. The firm has more than 30 staff and offices in Melbourne, Sydney, Perth, Auckland,
Tokyo, and Hong Kong.

Tanarra’s private equity team seeks to actively partner with growing mid-market and larger scale
businesses and invested in Barambah Organics at the end of 2020. Tanarra’s principals have a long
record in growing and exiting successful PE investments including: 2XU, Geotech and Dun &
Bradstreet.

Barambah Organics Company Website:

https://www.barambahorganics.com.au/

Tanarra Company Website:

https://tanarra.com/