For the Year Ended 31 December 2020

2020 ANNUAL REPORT for the year ended 31 December 2020 CONTENT Letter to Shareholders 4 SUSTAINABILITY 26 ASTARTA’S History 5 Corporate Social Responsibility 26 ASTARTA’S Map of Operations 6 Human Rights 31 Value Chain 7 Anti-corruption Policy 32 Key Operational Results 8 Whistleblowing 32 Key Financial Results 10 Personnel 33 Selected Financial Data 11 Training 35 Occupational Safety 36 REPORT ON OPERATIONS 14 Energy 37 Agriculture 16 Emissions and Acting on Climate Change 38 Sugar 18 Water Withdrawal and Discharge 39 Soybean Processing 20 Waste 40 Cattle Farming 22 Animal Welfare 41 Managing Covid-19 Related Risks 24 Material Risks and Mitigation 42 Shareholders and Share Price Performance 25 Outlook and Key Challenges 46 CORPORATE GOVERNANCE REPORT 48 CONSOLIDATED FINANCIAL STATEMENTS 78 COMPANY FINANCIAL STATEMENTS 152 INDEPENDENT AUDITOR’S REPORT 166 3 ASTARTA ANNUAL REPORT 2020 LETTER TO SHAREHOLDERS Dear Shareholders, At the time of writing this letter the world is hopeful that the humanity is winning its long fight against the global pandemic thanks to unprecedented co-operation between scientists, doctors, governments, businesses, and ordinary people. 2020 was the year for everyone to contribute to the common goal of saving lives, jobs, and stability for communities in extremely uncertain environment. ASTARTA had to rise to the challenge at the height of the pandemic as global and national lockdowns coincided with sowing of crops in spring 2020. While reporting our interim results, we re-iterated “business as usual” to our stakeholders, but few could glimpse the massive transformation we went through to preserve stability of our operations: • Our top agenda of health and wellbeing of employees was extended to cover their family members and wider communities in the regions of our operations. ASTARTA’s financial resources and procurement capabilities were promptly used to purchase and deliver medical equipment, and other necessary supplies to local hospitals. • Our office staff were provided with hard- and software to enable working remotely, while plant and machinery operating personnel were provided with necessary training, sanitising and social distancing measures to ensure safe working conditions. • Amid high uncertainty we continued investing into modern agricultural machinery and secured timely procurement of all key inputs for crop production. We deepened relationships with business partners which grow and supply us with sugar beets and soybeans, among other crops, for processing at our plants. • We completed optimisation of the sugar producing assets by concentrating production at core sugar mills and divesting non-core assets to free up internal resources to better manage our production and logistics costs at the main sugar plants. • Our balance sheet was strengthened by paying down majority of bank debt to regain flexibility on the direction of future capital allocation. I cannot underline enough the importance of industry-wide co-operation which was crucial for sustainability of agricultural activities during one of the most difficult years. The unfolding pandemic coincided with the extreme farming weather conditions not seen in the Ukraine for decades. Ukraine-wide harvest was severely hit for every major crop last year. My sincere gratitude goes to all our employees, clients, suppliers, and off-takers with whom we have successfully navigated those challenges in 2020. Now, we back at spring – the time of hope and nature awakening. Our team is out sowing the seeds for the new harvest, using the most advanced machinery purchased within our five-year modernisation programme. We are determined to make the new 2021/22 agricultural season a success for ASTARTA, our stakeholders and Ukraine. Yours sincerely, Viktor Ivanchyk Founder and CEO 4 ASTARTA’S HISTORY 2015-2019 2020 Building the grain Partnership Centre for co-operation and oilseeds silo network with independent farmers 2014 2007 Launch of the soybean Active farmland processing plant expansion 2003-2013 2006 Expansion of ASTARTA’s shares listed on the sugar business the Warsaw Stock Exchange 1993 1999 1997 Foundation Acquisition of Start of of the Company the first sugar the agricultural plant business ASTARTA is one of the largest vertically integrated agro-industrial Integrity, transparency, and strengths of its human capital has holdings in Ukraine. ASTARTA’s main activities include grain and also been among ASTARTA’s key priorities. The Company has oilseeds production, sugar production from sugar beets, soybean established stable long-term business relationships with leaders crushing, milk production, as well as grain and oilseeds storage of the Ukrainian food processing and confectionary industry. and handling services. A growing part of its production is also being exported through international agricultural traders to more than 30 countries. Since 1993, the Company has proven to be a reliable and trustworthy partner and supplier, committed to best international standards in terms of quality, innovation, and sustainability. 5 ASTARTA ANNUAL REPORT 2020 ASTARTA’S MAP OF OPERATIONS Chernihiv region Zhytomyr region 4kha leased land 12kha leased land Khmelnytskyi region Kharkiv region 1 sugar plant 4kha leased land 43kha leased land 3.3k heads 2 grain silos Kyiv Ternopil region 7kha leased land Poltava region Vinnytsya region 4 sugar plants 1 sugar plant Soybean processing plant 18kha leased land Bioenergy plant 1.5k heads 130kha leased land 1 grain silo 17.3k heads 4 grain silos Note 1: Data as of the end of March 2021 Note 2: Hereinafter differences between totals and sums of the parts are possible due to rounding 6 VALUE CHAIN Production Sales Corn: 418kt Corn: 630kt Wheat: 230kt Wheat: 265kt Organic produce: 4kt Sunseeds: 89kt Sunseeds: 83kt Soybeans: 63kt Kharkiv region Sugar beets: 1 483kt Processing Sugar beets: 1 559kt 4kha leased land Network of 7 grain and oilseeds silos with capacity of up to 550kt Agriculture Production Sales Sugar: 226kt Sugar: 329kt Sugar by–products: 89kt Sugar by–products: 91kt Processing Soybean: 208kt Sugar Land bank Sugarbeet pulp Production Sales Gas Soybean processign Soybean c. 220kha Soybean oil: 40kt Soybean oil: 40kt Soybean meal: 152kt Soybean meal: 142kt Bioenergy plant with capacity up to 75k m3 equivalent of Soybean husk: 12kt Soybean husk: 11kt Cattle farming natural gas per day Headcount 22k heads Production Sales Milk: 93kt Milk: 90kt Gas 7 ASTARTA ANNUAL REPORT 2020 KEY OPERATIONAL RESULTS GRAIN AND OILSEEDS PRODUCTION, kt 910 786 1 065 1 014 811 2016 2017 2018 2019 2020 SOYBEAN MEAL AND OIL PRODUCTION, kt 158 153 158 169 152 39 39 40 44 40 2016 2017 2018 2019 2020 Soybean meal Soybean oil 8 SUGAR PRODUCTION, kt 505 463 352 302 226 2016 2017 2018 2019 2020 MILK PRODUCTION, kt 107 110 106 96 93 2016 2017 2018 2019 2020 9 ASTARTA ANNUAL REPORT 2020 KEY FINANCIAL RESULTS REVENUES, EURm EBITDA, EURm* 369 459 372 448 416 152 120 68 78 113 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 NET DEBT, EURm, NET DEBT TO EBITDA, X* NET PROFIT, EURm 4.8 3.5 1.0 1.1 1.1 146 130 324 276 129 83 62 2 9 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 (18) Net Debt Net Debt/EBITDA * 2016-2017 data is before IFRS16 10 SELECTED FINANCIAL DATA SUMMARY P&L EURk 2019 2020 Revenues, including 448 006 415 630 Agriculture 205 712 175 137 Sugar production 116 893 126 973 Soybean processing 82 718 75 157 Cattle farming 34 603 33 167 Cost of sales, including (399 751) (348 182) Effect of FV remeasurement of AP (55 283) (43 314) Changes in FV of BA and AP* 43 208 54 084 Gross profit 91 463 121 532 Gross profit margin 20% 29% EBIT 14 796 56 278 Depreciation & Amortisation 62 571 55 510 EBITDA, including 77 923 113 421 Agriculture 53 335 80 190 Sugar production 2 314 21 522 Soybean processing 7 385 7 446 Cattle farming 15 610 8 748 EBITDA margin 17% 27% Interest expense on lease liability (22 635) (22 162) Other finance costs (16 639) (10 421) Forex gain/loss 24 899 (17 134) Net profit 1 691 8 611 Net profit margin 0.4% 2% *FV – Fair Value, BA – Biological Assets, AP – Agricultural Produce ASTARTA’s consolidated revenues amounted to EUR416m in 2020, Exports contributed EUR209m, or half of the consolidated revenues. 7% down y-o-y, on lower sales volumes of grains and soybean products. Gross profit increased by 33% y-o-y to EUR122m as Cost of sales reduction by 13% y-o-y to EUR348m offset the revenue decline. Revenues in the Agricultural segment declined by 15% to EUR175m, 42% of the total consolidated revenues. Revenues in the Sugar Accordingly, EBITDA grew by 46% y-o-y to EUR113m. segment increased by 9% y-o-y to EUR127m. The Soybean Processing and the Cattle Farming segments generated EUR75m and EUR33m of revenues, correspondingly, vis- à-vis EUR83m and EUR35m in 2019. 11 ASTARTA ANNUAL REPORT 2020 SUMMARY BALANCE SHEET EURk 2019 2020 Right-of-use asset (mainly land) 142 035 94 178 Biological assets (non-current) 30 011 23 917 PP&E and other 300 193 199 053 Inventories, including RMI* 193 681 107 482 Biological assets (current) 16 109 21 452 AR and other 64 206 42 826 Cash and equivalents 13 033 22 448 Total assets 759 268 511 356 Equity 438 755 337 326 Long-term loans 591 35 078 Lease liability (mainly land) 103 391 72 600 Other 10 930 5 935 Non-current liabilities 114 912 113 613 Short-term debt and similar 148 811 18 008 Current lease liability (mainly land) 36 073 25 864 Other 20 717 16 545 Current liabilities 205 601 60 417 Total equity and liabilities 759 268 511 356 EBITDA LTM 77 923 113 421 Lease liability (mainly land) 139 464 98 464 RMI* 142 500 74 074 Net debt total 275 833 129 102 ND total/EBITDA (x) 3.5 1.1 Adjusted net debt = (ND-RMI) 133 333 55 028 Adj ND/EBITDA (x) 1.7 0.5 Solvency ratio** 0.6 0.7 *RMI = Finished Goods ** Solvency ratio = Total equity/Total assets Net debt reduced from EUR276m to EUR129m on back of repayment of bank debt and land lease liabilities corresponding to Net debt/EBITDA of 1.1x at the end of 2020.

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