28 April 2015 By: e-lodgement (ASX code SBI) …

1 STERLING PLANTATIONS LIMITED(ACN 119 880 492)Suite 1,437 Roberts Road,Subiaco, 6008,Western Australia, AustraliaPO Box2138,Subiaco, 6904, Western Australia, Australiat + 6186380 2555f + 6189381 ManagerCompany Announcements OfficeAustralian Securities ExchangeExchange Plaza2 The EsplanadePERTH WA 6000By: e-lodgement (ASX code SBI)QUARTERLY CASHFLOW REPORT31 sincerelyShaun MenezesCompany SecretaryAppendix 4C Quarterly report for entities admitted on the basis of commitments + See chapter 19 for defined terms. 28/04/2015 Appendix 4C Page 1 Rule Appendix 4C Quarterly report for entities admitted on the basis of commitments Introduced 31/3/2000. Amended 30/9/2001, 24/10/2005. Name of entity Sterling Plantations Limited ABN Quarter ended ( current quarter ) ACN 119 880 492 31 March 2015 Consolidated statement of cash flows Cash flows related to operating activities Current quarter $A 000 Year to date $A 000 Receipts from (a) customers (b) other 69 - 291 166 Payments for (a) staff costs (b) advertising and marketing (c) research and development (d) leased assets (e) other working capital (417) (227) (1,579) (4) (987) Dividends received Interest and other items of a similar nature received 280 695 Interest and other costs of finance paid (4)

2 Income taxes Paid - - Other (provide details if material) - GST paid - Insurance compensation - - Net operating cash flows (295) (1,422) Appendix 4C Quarterly report for entities admitted on the basis of commitments + See chapter 19 for defined terms. Appendix 4C Page 2 28/04/2015 Current quarter $A 000 Year to date $A 000 Net operating cash flows (carried forward) (295) (1,422) Cash flows related to investing activities Payment for acquisition of: (a) businesses (item 5) (b) physical non-current assets (c) other non-current assets (Plantation Dev Expenditure - including staff cost) - (447) (711) - (1,793) (1,953) Proceeds from disposal of.

3 (a) businesses (item 5) (b) physical non-current assets (c) other non-current assets - - - - - - Loans to other entities Loans repaid to other entities Other (provide details if material) - Investment in quoted shares (net) - Other receivables (includes prepayment for investment in properties) (20) - (2,522) (1,023) Net investing cash flows (1,178) (7,291) Total operating and investing cash flows (1,473) (8,713) Cash flows related to financing activities Proceeds from issues of shares, options, etc. - - Proceeds from sale of forfeited shares - - Proceeds from borrowings - - Repayment of borrowings - - Dividends paid - - Other (provide details if material) - Proceeds from sale of grower plots - Net yield payment - - 77 (3,987) Net financing cash flows - (3,910) Net (decrease) increase in cash held (1,473) (12,623) Cash at beginning of quarter/year to date 13,575 23,997 Exchange rate adjustments 145 873 Cash at end of quarter 12,247 12,247 Appendix 4C Quarterly report for entities admitted on the basis of commitments + See chapter 19 for defined terms.

4 28/04/2015 Appendix 4C Page 3 Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities Current quarter $A'000 Aggregate amount of payments to the parties included in item 307 Aggregate amount of loans to the parties included in item - Explanation necessary for an understanding of the transactions None Non-cash financing and investing activities Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows None Details of outlays made by other entities to establish or increase their share in businesses in which the reporting entity has an interest None Financing facilities available Add notes as necessary for an understanding of the position.

5 (See AASB 1026 paragraph ). Amount available+ $A 000 Amount used $A 000 Loan facilities - - Credit standby arrangements - - Appendix 4C Quarterly report for entities admitted on the basis of commitments + See chapter 19 for defined terms. Appendix 4C Page 4 28/04/2015 Reconciliation of cash Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows. Current quarter $A 000 Previous quarter $A 000 Cash on hand and at bank 352 83 Deposits at call 11,895 * 13,492 Bank overdraft - - Other (provide details) - - Total: cash at end of quarter (item ) 12,247 13,575 * includes $9,290,676 pledged deposits held by trustee of Growers Scheme.

6 Acquisitions and disposals of business entities Acquisitions (Item (a)) Disposals (Item (a)) Name of entity - - Place of incorporation or registration - - Consideration for Acquisition or disposal - - Total net assets - - Nature of business - - Compliance statement 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act (except to the extent that information is not required because of note 2) or other standards acceptable to ASX. 2 This statement does give a true and fair view of the matters disclosed. Sign here: .. Date: 28 April 2015 Group Executive Director Print name: Andrew Phang Appendix 4C Quarterly report for entities admitted on the basis of commitments + See chapter 19 for defined terms.

7 28/04/2015 Appendix 4C Page 5 Notes 1. The quarterly report provides a basis for informing the market how the entity s activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report. 2. The definitions in, and provisions of, AASB 1026: Statement of Cash Flows apply to this report except for the paragraphs of the Standard set out below. - reconciliation of cash flows arising from operating activities to operating profit or loss - itemised disclosure relating to acquisitions - itemised disclosure relating to disposals (a) - policy for classification of cash items - disclosure of restrictions on use of cash - comparative information 3.

8 Accounting Standards. ASX will accept, for example, the use of International Accounting Standards for foreign entities . If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.