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PRESS KIT - 5 November 2015

Agrial and Eurial: An ambitious dairy cooperative group is born.

The merger between the milk processing and marketing activities of

Eurial and Agrial became effective on 4 November. The new entity, named Eurial, becomes the Dairy Division of Agrial.

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Contents Press release page 3 Key figures for Eurial page 4 6 strategic business sectors page 5 24 production sites and a single coherent collection area page 7 An organisational structure consistent with strategy page 8 Agrial... a multi-specialist cooperative group page 10

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PRESS RELEASE - 5 November 2015

Agrial and Eurial: An ambitious dairy cooperative group is born.

The merger between the milk processing and marketing activities of Eurial and Agrial became effective on 4 November. The new entity, named Eurial, becomes the Dairy Division of Agrial.

This new entity has been born out of a vision shared jointly by Eurial and Agrial. In the post-quota era, while the two groups are united by the same cooperative values, the task of the new Eurial is to add value to the milk produced by the members of the cooperatives as the basis for ensuring the future of their dairy farms. In doing so, it will focus on maximising the added value and growth opportunities presented by fast-growing international markets by putting innovation at the heart of its strategy. The achievement of this ambition will be fund by major programme of investment implemented to cover the period from now to 2018. An organisational structure consistent with growth and good for customers With more than 6,450 milk producers covering a vast area (in the Basse-Normandie, Pays de la Loire, Brittany, Poitou-Charentes, Centre and Rhône-Alpes regions), €2.3 billion in turnover, 24 processing and production sites and 4,000 employees, Eurial now operates in six dairy markets: goat cheese, ultra-fresh products, butter and cream, UHT milk, ingredient cheeses and dry ingredients, as well as organic products. It has put in place an organisational structure appropriate to its markets and ambitions, and from 1January 2016 onwards, it will be structured around two core businesses:

A Retail core business dedicated to major retailers A Food Service & Industry core business focused on Catering and Food Processing customers

The Agrial Dairy Division (Eurial) also remains a shareholder in Savencia subsidiary CLE, and continues to supply it, as well as Sodiaal cooperative group, with a proportion of its collected milk. The new Eurial is headed up by Olivier Athimon (previously CEO of Eurial), with Patrick Lepelleux (previously EVP of the Agrial Dairy Division) as Chief Operating Officer. The administrative head office will be located in Nantes. This initial stage will be followed in June next year by the merger of the Eurial shareholding cooperatives with the Agrial cooperative, to be voted by the members during the general meetings in June 2016. The Agrial Dairy Division Eurial thus constituted remains open to other cooperatives sharing the same values and vision of the future.

Press contact:

Alphacoms - Virginie Seince - +33 2 40 71 07 90 – v.seince@alphacoms.fr

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Eurial: France’s second largest dairy cooperative group

Eurial represents:

6,450 milk producers

2.8 billion litres of dairy resources: o 2.6 billion litres of cow milk o 220 million litres of goat milk o 62 million litres of organic milk

4,000 employees

€2.3 billion in turnover

24 production sites, including 3 outside France

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Eurial... six strategic dairy business sectors and strong brands Eurial is now a multi-specialist dairy cooperative serving major retailers and the catering and food processing industries with a very strong presence in cheese and ultra-fresh products and market-leading dominance of the goat milk market. It boasts strong, high added value brands across all six of its business sectors. Goat cheese With its Soignon Brand, which holds more than 27% of the major retail goat cheese market, Eurial has been the unchallenged leader in this market for more than 10 years. Its range of goat cheese products is wide and includes traditional cheeses, those used as cooking ingredients, ultra-fresh products, speciality cheeses and IQF cheeses for the catering market. Its goat cheeses are also marketed for export via the Merci Chef brand. Ultra-fresh dairy products Senegral, France's fourth-largest operator and retailer brand market leader, gives Eurial a strong presence in all ultra-fresh milk product segments, including natural and flavoured yoghurts, speciality products, low-fat products, custards, mousses, bifidus-enriched yoghurts and fromage frais. Ingredient cheeses Eurial is France's leading producer of mozzarella (pasta filata, grated or block), which it markets in Europe and worldwide. The result is a very strong position in the pizza market. UHT milk The new entity operates in the UHT milk market with the regional Agrilait brand, which is very successful, despite a market in structural decline. Dry ingredients Eurial is well positioned in this sector through its Délicelait subsidiary, which specialises in supplying food processing companies. Butter and cream Eurial occupies a strong position in speciality butters, as the fourth-largest player in the major retailers market. It owns the Grand Fermage brand, which includes the speciality sea salt butter and Charente-Poitou butter, both of which lead their segment in the major retailers market.

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Eurial : 24 production sites and a broader, more coherent, collection area

With 6,450 milk producers, Eurial covers an vast and coherent collection area in the Basse-Normandie, Pays de la Loire, Brittany, Poitou-Charentes, Centre and Rhône-Alpes regions of France. It operates 24 production sites (3 outside France) and 5 marketing companies.

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Eurial... a new organisational structure consistent with strategy Given its size, whether in terms of its geography or its financial, industrial or even managerial resources, and given its ambitious targets for growth and expansion, the new Eurial has chosen an organisational structure capable of delivering its strategy and maximising customer service. From 1 January 2016 onwards, it will be structured into two core businesses, each with its own production resources, marketing operations and dedicated teams:

A Retail core business dedicated to major retailers This core business has 18 production plants and an annual turnover of €800 million.

A Food Service & Industry core business focused on Catering and Food Processing customers

This core business has 6 production plants and an annual turnover of €1.300 billion.

The new Eurial is headed up by Olivier Athimon, who was previously CEO of Eurial, with Patrick Lepelleux (previously EVP of the Agrial Dairy Division) as Chief Operating Officer.

The 3 international production sites

(Belgium, USA and Spain) and marketing

companies.

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Agrial... a multi-specialist cooperative group Agrial was founded in 2000 and is an agricultural and food processing cooperative group with its origins in Normandy, and a strong presence in Basse Normandie, Pays de la Loire, Brittany and the Centre regions of France. Agrial is a multi-specialist group with an involvement in agricultural production through the 12,000 farmer members within its cooperative area, and in food processing, with processing facilities in France, Europe and the US: fresh vegetables (with the Florette, Priméale and Créaline brands), ciders and apple juices (the Loïc Raison, Ecusson and Danao brands), ultra-fresh dairy products and dairy ingredients, poultry and meat. The Agrial Group reported turnover of €4.2 billion in 2014. It employs 12,000 people. It is structured into four agricultural divisions: Upstream, Seeds, Rural Distribution and Machinery. And four food processing divisions: Beverage, Dairy (Eurial), Vegetable and Poultry & Meat. The Agrial Group flagship brands 2015 :