30 January 2018 By: e-lodgement (ASX code SBI)

1 STERLING PLANTATIONS LIMITED (ACN 119 880 492) Suite 1, 437 Roberts Road, subiaco , 6008, Western Australia, Australia PO Box 2138, subiaco , 6904, Western Australia, Australia t + 618 6380 2555 f + 618 9381 1122 30 January 2018 The Manager Company Announcements Office Australian Securities Exchange Exchange Plaza 2 The Esplanade PERTH WA 6000 By: e-lodgement (ASX code SBI) QUARTERLY CASH FLOW REPORT Please find attached Sterling Plantations Limited s quarterly cash flow report for the quarter ended 31 December 2017.

2 Yours sincerely Shaun Menezes Company Secretary Appendix 4 CQuarterly report for entities subject to Listing Rule +See chapter 19 for defined terms1 September2016 Page1+ report for entities subject to Listing Rule 31/03/00 Amended 30/09/01, 24/10/05, 17/12/10,01/09/16 Name of entitySterling Plantations LimitedABNQ uarter ended ( current quarter )ACN 119 880 49231 December2017 Consolidated statement of cash flowsCurrent quarter$A 000 Year to date(6months)$A flows from operating activities4421, from for(a)research and development(b)product manufacturing and operatingcosts(c)advertising and marketing(19)(291)(d)leased assets(land leaseincl.)

3 Mgtfees)(364)(710)(e)staff costs(99)(362)(f)administration and corporate costs(105)(618) received(see note3) and other costs of finance taxes grants and tax (provide detailsif material)-Plantation development expenditure(Incl. staffcost& estate workers cost)-Growers Scheme Income-Insurance-GST Refund / (Paid)(529)1-(18)(894)1-(39) cash from / (used in) operatingactivities(683)(1,880)Appendix 4 CQuarterly report for entities subject to Listing Rule +See chapter 19 for defined terms1 September2016 Page2 Consolidated statement of cash flowsCurrent quarter$A 000 Year to date(6months)$A flows from investing activities(116)(210) to acquire.

4 (a)property, plant and equipment(b)businesses (see item10)(c)investments(d)intellectual property(e)other non-current from disposal of:(a)property, plant and equipment(b)businesses (see item10)(c)investments(d)intellectual property(e)other non-current flows from loans to received (see note3) (provide details if material) cash from / (used in) investingactivities(116)(210) flows from financing from issues of from issue of convertible from exercise of share costs related to issues ofshares, convertible notes or from of borrowings(95)(151) costs related to loans (provide details if material)

5 -Proceeds from sale from grower plots-1, cash from / (used in) financingactivities(95)893 Appendix 4 CQuarterly report for entities subject to Listing Rule +See chapter 19 for defined terms1 September2016 Page3 Consolidated statement of cash flowsCurrent quarter$A 000 Year to date(6months)$A increase / (decrease) in cash andcash equivalents for the period1,6191, and cash equivalents at beginning ofquarter/year to cash from / (used in) operatingactivities ( above)(683)(1,880) cash from / (used in) investing activities( above)(116)(210) cash from / (used in) financing activities( above)(95) of movement in exchange rates oncash and cash equivalents at end of cash and cashequivalentsat the end of the quarter (as shown in theconsolidated statement of cash flows) to therelated items in the accountsCurrent quarter$A 000 Previous quarter$A balances7451, (provide details) and cash equivalents at end ofquarter (should equal above)

6 7451, to directors of the entity and their associatesCurrent quarter$A' amount of payments to these parties included in amount of cash flow from loans to these parties includedin below any explanation necessary to understand the transactions included and 4 CQuarterly report for entities subject to Listing Rule +See chapter 19 for defined terms1 to related entities of the entity and theirassociatesCurrent quarter$A amount of payments to these parties included in amount of cash flow

7 From loans to these parties includedin below any explanation necessary to understand the transactions included and availableAdd notes as necessary for anunderstanding of the positionTotal facility amountat quarter end$A 000 Amount drawn atquarter end$A facilities1,5791, standby (please specify) below a description of each facility above, including the lender, interest rate andwhether it is secured or unsecured. If any additional facilities have been entered into or areproposed to be entered into after quarter end, include details of those facilities as unsecured loan from a founder shareholder is a standby credit line of up to RM5 millionequivalent to$ The loan is repayable on demand and may be drawn down from time totime for working capital purposes.

8 Interest ispayable at the base landing rate of a leading Malaysianfinancial institution of per cash outflows for next quarter$A and manufacturing and operating and costs(100) and corporate costs(150) (provide details if material)-Plantation development expenditure(Incl. staff cost & estate workers cost)(567) estimated cash outflows** Excludesestimates for receipts from customer of$500K(817)Appendix 4 CQuarterly report for entities subject to Listing Rule +See chapter 19 for defined terms1 and disposals ofbusiness entities(items (b) and (b) above)

9 Of of incorporation for acquisition net of businessCompliance statement1 This statement has been prepared in accordance with accounting standards and policies whichcomply with Listing statement gives a true and fair view of the matters here:..Date:30 January 2018 Executive DirectorPrintname:Dhanesh A/L quarterly report provides a basis for informing the market how the entity s activities havebeen financed for the past quarter and the effect on its cash position.

10 An entity that wishes todisclose additional information is encouragedto do so, in a note or notes included in or attachedto this this quarterly report has been prepared in accordance with Australian Accounting Standards,the definitions in, and provisions of,AASB 107: Statement of Cash Flowsapply to this report. Ifthis quarterly report has been prepared in accordance with other accounting standards agreedby ASX pursuant to Listing , the corresponding equivalent standard applies to received may be classified either as cash flows from operating activities or cash flowsfrom investing activities, depending on the accounting policy of the entity.