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October 2018 AgroGeneration Corporate Presentation AgroGeneration SA 3 de la Pompe Str., 75116 Paris, FRANCE Tel.: +33 1 56 43 68 60 Ukraine Agricultural Market Today Ukraine. Agricultural Market Today Ukraine Another Record Year

  1. October 2018 AgroGeneration Corporate Presentation AgroGeneration SA – 3 de la Pompe Str., 75116 Paris, FRANCE – Tel.: +33 1 56 43 68 60

  2. Ukraine Agricultural Market Today

  3. Ukraine. Agricultural Market Today Ukraine – Another Record Year for a Leading Global Producer Ukraine. Main Crops Production & Export Breakdown, M tons 2017 Share in 2017/18 Share in For five consecutive years now (2013-2017) Crop Production Total, % MY Export Total, % Ukraine has been harvesting over 60M tons of Total Grains 61.9 100% 39.4 100% grains and 17M tons of oilseeds on average annually Wheat 26.2 42.3% 17.1 43.4% Barley 8.3 13.4% 4.2 10.7% Ukraine is the largest sunflower oilseeds producer in Corn 24.7 39.9% 17.7 44.9% the world Other grains 2.7 4.4% 0.4 1.0% Total Oilseeds 18.4 100% 4.8 100% Over 65% of produced grains and 22% of Soy 3.9 21.6% 2.7 56.3% oilseeds are exported annually Rapeseed 2.2 12.5% 2.1 43.7% Sunflower 12.2 65.9% 0.1 0.0% Ukraine. Oilseeds Production & Export Ukraine. Grain Production & Export Dynamics Dynamics 19.1 66.0 61.9 18.4 20 70 63.1 63.9 60.1 17.0 16.3 16.1 56.7 60 53.3 15 46.0 46.2 12.5 12.1 50 39.5 43.8 39.4 39.3 38.0 34.3 32.3 34.8 40 10 29.3 24.5 21.2 30 21.7 22.7 4.8 4.4 4.1 3.9 3.6 20 5 12.9 12.4 2.8 2.7 9.5 4.4 10 0 0 2011 2012 2013 2014 2015 2016 2017 05 06 07 08 09 10 11 12 13 14 15 16 17 Grain Production, M tons Grain Export, M tons Oilseeds Production, M tons Oilseeds Export, M tons Sources: State Statistics Committee of Ukraine, USDA 3 Ukrainian agriculture – one of the most powerful sectors in the country today

  4. Ukraine. Agricultural Market Today High Export Potential In 2017/18MY , Ukraine became the 3 rd largest grain exporter after USA and Russia with 11% share in the world’s total grains export volume, in particular: 4 th largest corn exporter 6 th largest wheat exporter Ukraine. Grain 1 Export Breakdown in 2017FY, World. Grain 1 Export Breakdown in by Country-Importer, M tons/% 2017/18MY, % Netherlands Ukraine 11% 9% 11% Italy 7% Spain Turkey South 7% China Tunisia Israel Korea Iran 14% 6% Libya Saudi Egypt India Bangladesh 11% Arabia 24% Philippines 2017 Grain Export 41.8M USA Russia Ukraine EU 11.0M 26% Asia 19.8M 47% Argentina EU Canada Indonesia Africa 10.8M 26% Brazil Australia Others Other Countries 0.2M 1% Over 6% share in total grain export from Ukraine 1 Excl. rice Over 4% to 6% share Over 2% to 4% share Sources: State Statistics Committee, USDA Ukraine is already a key player in the export markets, with over 50% of grain exports 4 going to the Middle East and Africa

  5. Ukraine. Agricultural Market Today Produced Crops Variety & Yields Potential 3-year Average Yield Comparison (2015-2017), tons/ha Commodity crop farming currently Ukraine’s Genetic Crop Ukraine EU US Canada World dominates local agriculture, accounting Potential for up to 60% of total crop output Wheat 4.02 5.69 3.20 3.26 3.37 10-11 Corn 5.85 6.88 10.85 10.11 5.61 12-13 Grains and oilseeds account for Barley 3.21 4.90 3.94 3.74 3.00 10 approximately 54% and 31% of 2.02 2.82 3.35 2.88 2.76 Soy 6 Rapeseed 2.66 3.26 1.83 2.31 2.06 4.3 cultivated land use, respectively Sunflower 2.10 2.02 1.75 1.99 1.81 3.5-5 Ukraine's Cultivated Lands Structure in 2017, % Sources: USDA, FAOSTAT, Ukrstat 7% 0% Despite favorable climate and soil conditions, 9% average crop yields in Ukraine are still lower than in 7% 1% Western Europe and far below its genetic potential 3% Grain and 7% Ukraine still has significant upside to improve Legumes 17% yields and increase margins: 54% 23% Crop yields could rise by 50% on average just 22% 4% through the use of new technologies Many farming companies (incl. AgroGeneration) Sunflower Soy Rapeseed Sugar Beet are consistently achieving (and exceeding) US and Vegetables Feed Crops Other Wheat EU yields at lower costs Barley Corn Other Grains Source: State Statistics Committee of Ukraine 5 Yields and low costs are drivers of growth

  6. Ukraine. Agricultural Market Today Transport Infrastructure Logistics Performance Index* The total transport network includes around 6.0 22k km of railroads, 164k km of auto roads, 2k km of 4.2 4.0 4.0 3.8 3.7 operational river shipping routes with access to the 3.7 3.4 4.0 2.7 2.6 Azov and Black seas 2.6 2.4 1.6 Logistics Performance Index (LPI) 1 in Ukraine 2.0 according to World Bank 2016 report equals to 2.7 0.0 compared to the highest of over 4 in selected European countries, the US, and Japan 1 benchmarking tool developed by the World Bank that measures performance Source: World Bank along the logistics supply chain within a country (compares 160 countries) Ukraine. Map of Rail Roads Ukraine. Map of Auto Routes Ukraine has well-developed infrastructure to support agricultural exports, which still 6 requires quality and efficiency improvements

  7. Ukraine. Agricultural Market Today Grain Storage and Port Infrastructure Ukraine can ship over 40M tons of 480 grains and oilseeds annually through its 1,800 547 2,017 1,427 11 sea ports (terminals) 1,798 433 3,595 1,617 Over 60% of shipping volumes are 2,275 1,320 765 1,814 concentrated in the Odesa region 212 2,714 94 2,177 2,100 (Odesa, Illichivsk, and Yuzhny ports) 231 489 Grain transshipment terminals Existing storage infrastructure of 2,100 3,179 1,472 Storage Capacity in a Region 47M tons allows immediate storage of 1,600 Over 3,000 k tons 70-80% of annual harvest Over 2,000 k tons Over 1,000 k tons An additional 15M tons will be Under 1,000 k tons needed to ensure that 100% of the Source: elevatorist.com currently harvested grains can be Currently, about 832 certified elevator complexes safely stored operate in Ukraine (36M tons capacity) Poltava, Odesa, Vinnitsa, Kharkiv, Silo elevators are 46% of total storage capacities, and Dnipro regions possess the floor-type granaries constitute 54% largest storage volumes in Ukraine, jointly accounting for 38% of total Approx. 20% of total storage capacities are managed storage capacity in volume terms by state-owned operators 7 Grain storage infrastructure growth is needed to support crops

  8. AgroGeneration Company Background

  9. AgroGeneration At a Glance PUBLIC COMPANY FARMLANDS TEAM Listing on NYSE Euronext in Paris 110k ha 1,400 employees run by strong with 35% free float in 5 regions of Ukraine management team Sumy Zhitomyr 10,000 ha 12,000 ha Kharkiv 60,000 ha Kyiv Lviv, Ternopil 29,000 ha PRODUCTION STORAGE MACHINERY FLEET Up to 400k tons Fleet of modern ag machinery , incl. 72 combines, Over 210k tons 270 tractors, 57 sprayers, 255 seeders and headers Grains 77% Oilseeds 23% 9 Excellent assets base for further development and growth

  10. AgroGeneration Milestones of Development – Historical Background 2017- Severe weather conditions impacted Group results two years in a row , thus pushing strongly 2018 towards further cost and operations optimization 2016 Improvement of business processes , continuing to consolidate operational and financial fundamentals of the business 2015 Recovery of the balance sheet from the debt burden through successful completion of the restructuring process 2014 Successful turnaround of the Group. Significant improvement in results despite the challenging economic and political situation in Ukraine 2013 Merger between ex-AgroGeneration and Harmelia, finalized in late 2013 , became a starting point for the agricultural market player’s future development Harmelia (c. 70,000 ha) Ex-AgroGeneration (c. 50,000 ha) Founded by SigmaBleyzer Fund IV (SBF 2010 2010 Listed on NYSE Euronext in Paris IV) under management of SigmaBleyzer 1 (1) SigmaBleyzer – one of the largest and most experienced private equity investors in Eastern 2007 Founded by a pool of French investors Europe, founded in 1993; the majority owner of new AgroGeneration after the merger 10 AgroGeneration: two stories, one future

  11. AgroGeneration Current Shareholders and Investors AgroGeneration Konkur: Shareholder’s Structure as of December 31, 2017* Majority shareholder of AgroGeneration Investment holding company Controlled by SBF IV (run by SigmaBleyzer ) 56.6% 7.1% 1.2% SigmaBleyzer: Over 25 years SigmaBleyzer (SB) and SB’s managed funds have invested over $1 billion in Ukrainian economy in many sectors, including: agriculture, telecom, high-tech, media, food, retail, consumer products, infrastructure 35.1% SB has been a successful private equity investor in Ukraine Konkur Inv. Ltd in spite of the challenges Green Alliance/Gravitation Strong record of creating value , investments in over 100 Cordial Inv. and Consulting Ltd companies , active hands-on management style , value Floating creation at the operational level, not through financial engineering * excl. OSRANE bonds to be fully converted to equity in early 2019 11 Major experience in the field and a unique approach based on the creation of value

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