FirstFarms — Interim / Quarterly Report 2016

Nov 29, 2016

Interim financial report for 1 January - 30 September 2016 for FirstFarms A/S

Interim financial report for 1 January - 30 September 2016 for FirstFarms A/S

Summary - FirstFarms maintains the announced expectations

The Board of Directors and Management of FirstFarms A/S have today reviewed and adopted the un-audited interim financial accounts for the period 1 January - 30 September 2016.

• FirstFarms maintains the announced expectations of an EBIT result in the level of DKK 0. FirstFarms A/S' negotiations with AP Pension regarding land and buildings in Romania are still in a positive dialogue, and it is expected, that the final agreement can be ready before the end of the year. The agreement with AP Pension about sale of land is not expected to have result effect in 2016.

• In the first 9 months, the milk price has been significantly lower than expected, but the milk prices have started to increase. The milk production per unit has been a little higher than expected.

• The sales prices on grain have been lower than expected, whereas the prices on oil seed have been a little higher than expected. In total, there has been a negative influence on the result from the crop prices.

• The yields have been better than expected for both autumn and spring crops.

• FirstFarms has in the accounting period realised a turnover of DKK 89.8 million, an EBIT result of DKK 1.4 million and a pre-tax result of DKK -5.4 million.

Best regards

FirstFarms A/S

For further information:

Please visit our website www.firstfarms.com or

contact CEO Anders H. Nørgaard on telephone +45 75 86 87 87.

Attachments:

• (13) Q3-2016 (UK)