## 1. REPORTING ENTITY: 

 Rogers Sugar Inc. (“Rogers” or the “Company”) is a company domiciled in Canada, incorporated under the Canada Business Corporations Act . The head office of Rogers is located at 123 Rogers Street, Vancouver, British Columbia, V6B 3V2.The consolidated financial statements of Rogers as at September 28, 2013 and September 29, 2012 comprise Rogers and its subsidiary, Lantic Inc. (together referred to as the “Company”). The principal business activity of the Company is the refining, packaging and marketing of sugar products. 

 The Company’s fiscal quarters end on the Saturday closest to the end of December, March, June and September. All references to 2013 and 2012 represent the years ended September 28, 2013 and September 29, 2012. 

## 2. BASIS OF PRESENTATION AND STATEMENT OF COMPLIANCE: 

(a) Statement of compliance: 

 These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”). 

 These consolidated financial statements were authorized for issue by the Board of Directors on November 14, 2013. 

(b) Basis of measurement: 

 These consolidated financial statements have been prepared on the historical cost basis except for the following material items in the consolidated statements of financial position: 

(i) financial instruments at fair value through profit or loss are measured at fair value; and 

(ii) the defined benefit pension plan liability is recognized as the net total of the present value of the defined benefit obligation less the total of the fair value of the plan assets and the unrecognized past service costs. 

(c) Functional and presentation currency: 

 These consolidated financial statements are presented in Canadian dollars, which is the Company’s functional currency. All financial information presented in Canadian dollars has been rounded to the nearest thousands, except as noted and per share amounts. 

(d) Use of estimates and judgements: 

 The preparation of these consolidated financial statements in conformity with IFRS requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. 

 Significant areas requiring the use of management judgements and estimates relate to the valuation of goodwill, the rates for depreciation and amortization of property, plant and equipment and intangible assets, the recoverability of deferred income tax assets and the assumptions used for the determination of employee future benefit obligations. 

