Sanwil Holding S.A. — Capital/Financing Update 2021

Jul 7, 2021

Current report no 11/2021

dated 7 July 2021

AMENDMENT OF THE CAPITAL EXPENSE PLAN FOR THE NEW OILSEED PROCESSING PLANT IN WESTERN UKRAINE

Kernel Holding S.A. informs that the management expectation of the capital expense related to the construction of the oilseed processing plant in western Ukraine has increased from initial US\$ 180 million to US\$ 279 million.

Incremental expenditure is a result of on-going changes made to the initial plant design expanding sunflower seeds in-take and storage capacity, improving capabilities of on-site truck and railway logistics along with elevated costs of construction materials reflecting global pricing trends and labor inflation.

Upon commission scheduled for spring 2022, the oilseed processing plant will have the capacity to process one million tons of sunflower seeds per year. Co-generation heat and power facility adjacent to the plant will have the electricity generation capacity of 22.5 MW to produce the renewable energy from biomass.

Legal grounds: Art. 17 of REGULATION (EU) No 596/2014 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC.

Signatures of individuals authorized to represent the Company:

Yuriy Kovalchuk

Anastasiia Usachova