Project SunRise Oils Business Plan › Section 1 › Executive Summary

1.1 The Opportunity

South Africa is the second-largest sunflower oil consumer on the
African continent, with annual demand of approximately 439,000 tonnes
worth USD 444 million in 2024. Despite this scale, the country remains
structurally short on locally refined edible oil: imported oils —
dominated by palm oil from South-East Asia — still account for around
62% of total plant-oil consumption, exposing the local food chain to
currency, freight and geopolitical risk. Domestic sunflower seed
production averaged 708,300 tonnes in MY 2024/25, and South Africa has
installed crushing capacity that is roughly double the volume of seed
produced locally, creating a clear opportunity for a well-capitalised,
vertically integrated processor to capture margin across the full value
chain.

Project SunRise Oils (Pty) Ltd (“the Company”) is positioned to take
advantage of this gap. The Company is an established South African
agri-processor specialising in the crushing of sunflower seed into crude
oil, the refining and bottling of edible oil for retail and food-service
customers, and the production of high-protein sunflower oilcake for the
country’s rapidly growing animal feed industry. The Plan outlined in
this document covers a 30-month expansion programme that will scale
annual crushing capacity from a current run-rate of 120,000 metric
tonnes to 300,000 metric tonnes, add downstream refining and bottling
capability, and develop a regional export footprint into the Southern
African Development Community (SADC) and the African Continental Free
Trade Area (AfCFTA).

1.2 Strategic Rationale

• Import substitution: more than ZAR 8.5 billion of edible oil is
  imported into South Africa each year, providing a defensible domestic
  market for locally refined sunflower oil priced at or below import
  parity.
• Margin capture across the chain: combining crushing, refining,
  bottling, and oilcake monetisation in one integrated operation captures
  three to four discrete margin pools that are typically split across
  separate operators.
• Anchored in proven supply geography: the Free State and North
  West provinces together account for over 86% of South Africa’s sunflower
  seed production, and the Company’s plant footprint sits within a 200-km
  radius of more than 65% of national crop volume.
• Quality and safety platform: FSSC 22000 certification, full ISO
  9001 alignment, and HACCP-compliant processes create a credible offer
  for global FMCG buyers, retailers, and food-service chains.
• Resilience by design: by-product monetisation through
  high-protein sunflower oilcake provides a counter-cyclical revenue
  stream for the SA livestock and aquaculture feed industries, where
  soybean and sunflower meal together represent ~85% of feed-protein
  usage.

1.3 Investment Thesis

Project SunRise Oils combines hard-asset infrastructure with
proximity to a stable feedstock base, defensible margins, and a
structural import-substitution narrative. The Plan delivers four
reinforcing investment dynamics:

• Demand certainty: per-capita sunflower oil consumption in South
  Africa is 7.1 kg, well above the global average of 1.5 kg, with
  population growth and urbanisation driving consistent volume.
• Cost-curve positioning: by integrating from seed receipt through
  to retail bottle, the Company targets a fully landed cost of refined oil
  that is 8–12% below import parity at steady state.
• Optionality on biofuels and high-oleic premiums: medium-term
  upside from biodiesel mandates (CAGR 7.86% in biodiesel applications
  globally) and from high-oleic sunflower oil grades (CAGR 6.91% to 2030)
  is preserved without being relied upon in the base case.
• Asset-backed structure: a significant share of the capital raise
  is deployed into long-life processing infrastructure (silos, expellers,
  refineries, bottling lines) that supports senior lender comfort and
  equity multiple expansion.

1.4 Headline Financials

The base-case financial model projects revenue rising from ZAR 570
million in Year 1 to ZAR 1,840 million in Year 5, with EBITDA expanding
from ZAR 78 million to ZAR 432 million over the same period. The
expansion is structured to be self-funding from Year 3 onwards, with
operating cash flow comfortably servicing scheduled debt repayments at
an average DSCR of 2.15x.

Year 1–5 Headline Summary (ZAR Million)

Figure 1

1.5 Funding Requirement & Use of Proceeds

The Company is seeking a total capital raise of ZAR 850 million,
structured to balance senior security against equity returns. The
capital is allocated primarily to long-life processing infrastructure,
with a disciplined working-capital line to fund seasonal feedstock
procurement during the harvest window.

Figure 2

Figure 3

1.6 Returns to Investors

Under the base case, the project delivers a project IRR of 22.4% and
an equity IRR of 31.7%, with equity payback in 4.3 years. These returns
compare favourably with the typical South African food-and-beverage
manufacturing benchmark of 15% project IRR and 20% equity IRR observed
across recent comparable transactions.

Figure 4

1.7 Key Risks & Mitigants

Major risks have been identified, scored, and mitigated within an
enterprise-wide risk register. The most material exposures are
seed-supply variability driven by drought, energy supply continuity
(load-shedding), and commodity-price volatility. These are addressed
through farmer offtake contracts with quantity-and-price floor
mechanisms, on-site solar and back-up generation totalling 8 MW, and a
structured hedging programme that locks in seasonal spreads at the
seed-and-oil interface.

1.8 Implementation Timeline

The expansion is delivered through a phased 30-month programme.
Funding close, EIA approval, and equipment procurement are completed
within the first 7 months. Civil works and crushing-line installation
run from Month 4 to Month 14. Refining and bottling are commissioned by
Month 16, with full FSSC 22000 audit completed by Month 19. Commercial
production at full nameplate capacity is achieved by Month 22, and
export-market activation begins from Month 24.

1.9 The Ask

Confidential — this business plan is provided to prospective investors and lenders for evaluation purposes only and may not be reproduced or distributed without the written consent of Project SunRise Oils (Pty) Ltd.