ALLSEEDS GROUPJanuar y 2016

www.a l l s eeds. com

Agenda

EXECUTIVE SUMMARY

COMPANY, STRUCTURE, MANAGEMENT

TRADING

TERMINAL AND MULTICRUSHER

TARGETED MARKETS AND COMPETITORS IN UKRAINE

GROUP FINANCIALS

2

Group OverviewALLSEEDS GROUP is engaged in vegetable oil transshipment and trade, sunflower seeds, rapeseeds, soybean crushing.

Main assets of the Group, Multiseed Crusher with processing capacity: 2 400 MT/day of sunflower (760 KT per year); 1 800 MT/day of rapeseed (570 KT per year); 1 440 MT/day of soybean (460 KT per year), and Terminal, is located in port Yuzhny. Port Yuzhny is the most deep sea port in Ukraine – 17 m depth with possible deepening up to 21 m.

The future development of the Group consists of:

Construction of Second Line: 2 400 MT/day of sunflower; 1 800 MT/day of rapeseed;

1 440MT/day of soybean (760 KT, 570 KT, 460 KT respectively per year)

Third Soybean Crushing Line: 5 000 MT/day of soybean (1.600 KT per year)

Construction of Grain Terminal with total transshipment 8 000 000 MT grain per year

Construction of 2 berths

Construction of the own railway station

Increasing of Group trading of grain and oil trade up to 9 mn ton

3

4

Picture of Oil Terminal and First Line of Multicrusher – September 2015

Agenda

EXECUTIVE SUMMARY

COMPANY, STRUCTURE, MANAGEMENT

TRADING

TERMINAL AND MULTICRUSHER

TARGETED MARKETS AND COMPETITORS IN UKRAINE

GROUP FINANCIALS

5

Management

Viacheslav Petryshche - CEO/Strategy/Investments

More than 25 years of experience in agricultural sector. Previous places of work: Euromill Ukraine, Ilta Trade,

Allseeds Group LLC

Kees Vrins - Trading/Logistics/Operations Rest of the World

More than 20 years of experience in oil trade and logistic. Previous places of work: Sanofi SA, Dratec SA, Allseeds Group LLC

Vladymyr Slabovsky – COO/Trading & Logistic in Ukraine

More than 20 years of experience in grain trade and logistic. Previous place of work: TIS Holding

Igor Frantskevych – CFO/Legal/IT/Operations in Ukraine

More than 18 years of banking experience. Previous place of work: Raiffeisenbank Ukraine, Index Bank.

6

Group Commitment

Holding with transparent Legal, Tax & Finance structure “IPO-able”

Independent audit from a top-audit firm – Baker Tilly

Organization, operations & corporate governance in accordance with the world standards

Environmental awareness and social responsibility

Mission Statement

Independent trading, logistics and processing company with the focus on bringing Ukrainianagricultural products to the world markets

7

Building Up Success

2010-2011 Establishing trading company with strong market presenceTrading volumes of 250,000MT, the largest independent sunflower oil trader in Ukraine in first year of operations.

2011-2012 Processing under tolling agreements Crushing operations under tolling agreements with independent producers in Ukraine.

2012-2013 Construction of own port logisticsCompleted construction of Oil Transshipment Terminal and railway connection in Port Yuzhny. Transshipment of 300,000MT of oil during first three quarters since the start of Terminal operations.

2013-2015 Construction of multiseed crushing plantObtained bank financing for the construction of the plant. Construction in progress according to schedule. Operations started on mid July 2015.

8

Legal Structure – Group ConsolidatedAllseeds S.A.

(Luxemburg)/ Holding

100%

Allseeds Ukraine LLCManagement

100%

Al Petri Ltd (BVI)Freight/Chartering

Allseeds Industrial SA(Luxemburg)/Industrial

Allseeds Switzerland SATrading/Logistics

Allseeds Group Ukraine LLCDormant

Allseeds Invest Ukraine LLCInvestments / Real Estate

Grand Terra LLCExport/ Tolling

100%

Hangar18 LLCLand Ownership

Allseeds Black Sea LLCTerminal, Factory Construction

Project Pivdennyi LLCLand Ownership

Allseeds Grain Terminal LLCGrain Terminal Construction

Allseeds Trans Balk LLCTrans Balk Construction

Allseeds Energy LLCCogeneration Plant Construction

Allseeds Logistic LLC

Logistic Projects

9

100%

Branch “LLC

“Allseeds Black

Sea” Vegetable

Oil Terminal”

Oil transshipment

Branch “LLC “Allseeds

Black Sea” Oil-

extracting factory”

Tolling

100%

0,343%

89%

1%

1%

1%

99,653%

0,004%

1%

10%

1%

100%99%

99%

99%

99%

99%99%

1%

Agenda

EXECUTIVE SUMMARY

COMPANY, STRUCTURE, MANAGEMENT

TRADING

TERMINAL AND MULTICRUSHER

TARGETED MARKETS AND COMPETITORS IN UKRAINE

GROUP FINANCIALS

10

Sunflower Oil ShipmentShipment Volumes, thousands MT 2010-2014 Trading Overview

Start of operations: 2010

Shipments volumes increased from 124 KT in 2010 to 392 KT in 2014

CPT Purchases increased from 65 KT to 121 KT in 2014 compared to 2013

FOB Purchases increased from 112 KT to 280 KT in 2014 compared to 2013

11

Major Clients for Sunflower OilThe Major Clients for Sunflower Oil are Alfa Group/Wilmar, Kaluseewari, Glencore, Bunge, Tampieri, Noble, Lipidos

Distribution of Turnover per major Clients for Oil

2010 2011 2012 2013 2014

10 Major Clients 73% 70% 48% 89% 84%

5 Major Clients 52% 51% 48% 67% 62%

Total Nbr Clients 22 34 35 17 23

Total Tonnage, MT 123 972 263 608 278 779 176 327 391 800

12

Agenda

EXECUTIVE SUMMARY

COMPANY, STRUCTURE, MANAGEMENT

TRADING

TERMINAL AND MULTICRUSHER

TARGETED MARKETS AND COMPETITORS IN UKRAINE

GROUP FINANCIALS

13

Location: Ukraine-Odessa-Yuzhny

Odessa

14

Port Yuzhny as the Best Option

Sea Ports Advantages Disadvantages

Yuzhny – the most

deep water port in

Ukraine

Located outside of the city

Good logistics access

Access for vessels up to 100k, draft 15m

Comparatively longer transport distance for

seeds

Odessa / Illychovsk Access for large vessels up to 50k, draft

12,5m

Too busy port

Located in city center

Nikolaev More centrally located in growing region No ring road : Access via town only

Shortage of land plots with easy access to existing

berths

Channel depth limits vessel access to 20k

Kherson /

Mariupol /

Berdyansk

Access limited to vessels of 6 – 7k

Located in city centre

15

Oil Transshipment Terminal

Start of operations: June 2013

Transshipment capacity: 700 000 MT/year

Connection to berth: own pipeline, with option for multiple pipes

Independent laboratory & Surveyor: Nofalab / Dr Buschmeyer

16

Terminal Technical Characteristics

Storage tanks 4 tanks – 5 000 m3

8 tanks – 3 000 m3

3 tanks – 300 m3

Discharging capacityTrucks – up to 4 000 MT/day

Weight bridge – 2 bridges of 21 meters/80 MT

Railcars – up to 4 000 MT/day

Shipment capacitySpeed of loading – 800 MT/hour

Berth draft – 14.6m

Vessel length – 250 m

Vessel size – up to 100 000 MT

17

Terminal Operational Activity

Transshipment Volumes, MT (Vessel loading)

2013/2014 MY 1H 2014/2015 MY

the Group 121 405 24 020

3d Parties 176 094 117 713

TOTAL 297 499 141 733

18

Multiseed Crushing Plant – Line I (1)Start of Construction: Q1 2014

Start of operations: July 2015

Forecasted processing capacity: 2 400 MT/day of sunflower; 1 800 MT/day of rapeseed; 1 440 MT/day of soybean

Silo storage capacity: 50 000 MT of SFS seeds

19

Multiseed Crushing Plant – Line I (2)

Supplier of production line: Andreotti Impianti (Italy), Buhler (Germany), Westfalia (Germany), Harburg Freudenberger (Germany)

Supplier of boiler equipment: Vyncke (Belgium), Bosch (Germany)

Supplier of silo equipment: Muyang (China)

Construction surveyor: Tebodin (Netherlands)

20

Multiseed Crushing Plant – Line II & III (3)

Processing capacity for Line II: 2 400 MT/day of sunflower; 1 800 MT/day of rapeseed; 1 440 MT/day of soybean

Processing capacity for Line III: 5 000MT/day of soybean

Silo storage capacity: 120 000MT

Supplier of production line: Andreotti Impianti (Italy), Buhler (Germany), Westfalia (Germany), Harburg Freudenberger (Germany)

Supplier of boiler equipment: Vyncke (Belgium))

Supplier of silo equipment: To be appointed

Technical consulting: Tebodin (Netherlands)

21

Railway & Trucks Delivery

Total length of 980m

Three branches with planned expansion to nine branches

Own station at the territory of the plant built in 2013

Annual capacity limits agreed with Ukrzaliznytsa: 10 000 000 MT

Railway and station built from own funds

Convenient access roads for trucks

22

Pipeline to Berth

Existing pipeline

Multiseed

crusher

Railway

Pipeline passes to Berth

through the territory of

TIS

The length of pipeline is

3,7 km

Transaction and Lease

Agreement with TIS for

pipeline transit is signed

for 49 years

23

Agenda

EXECUTIVE SUMMARY

COMPANY, STRUCTURE, MANAGEMENT

TRADING

TERMINAL AND MULTICRUSHER

TARGETED MARKETS AND COMPETITORS IN UKRAINE

GROUP FINANCIALS

24

Sunflower Seed Harvest: 2013/2014

5,9

7,27,7

9,4 9,0

11,5

08\09MY 09\10MY 10\11MY 11\12MY 12\13MY 13\14MY

Sunflower Seed Harvest, M tons Sunflower Seed Area, M ha

4,44,5

4,95,2

5,4

5,9

08\09MY 09\10MY 10\11MY 11\12MY 12\13MY 13\14MY

Sunflower Seed Yield, tons per ha

1,4

1,6 1,6

1,81,7

2,0

08\09MY 09\10MY 10\11MY 11\12MY 12\13MY 13\14MY

Sunflower Seed Key Growing Area, M ha

3,1

3,0

1,9

4,9

0,6

0,8 1,9 0,6

2008

2013

East Center South North West

25

Sunflower Seed Crushing: 2013/2014Sunflower Seed Balance, M tons

11,50,1

11,1

0,3

Harvest Export Crushing Ending stocks

Sunflower Seed Crushing Capacities, M tons

2,5

1,1

1,0

0,80,70,7

5,5

Kernel

Creative

Cargill

MHP

Vioil

Privat

Others

Sunflower Seed Crushing Results, M tons

4,7

4,2

42,3%

37,7%

15,0%

20,0%

25,0%

30,0%

35,0%

40,0%

45,0%

1,9

2,4

2,9

3,4

3,9

4,4

4,9

5,4

Sunflower oil Sunflower meal

Output Crushing Ratio

Share of Top-6 crushers, %

45% 48% 52% 57% 60% 65%

55% 52% 48% 43% 40% 35%

2008 2009 2010 2011 2012 2013

Top 6 Others

26

Sunflower Oil Performance: 2013/2014Sunflower Oil Balance, M tons

4,7 0,5

4,2

Oil produced Consumed within Ukraine Exported

Key Export Destinations, %

37%

15%12%

7%

5%

3%

21%India

EU

China

Egypt

MENA

Turkey

Others

4,2m tons

Sunflower Oil Export Dynamics, M tons

2,0

2,32,5

3,23,0

4,2

08\09MY 09\10MY 10\11MY 11\12MY 12\13MY 13\14MY

Export to China, K tons

40

196

504

11\12MY 12\13MY 13\14MY

27

Ukrainian Companies Dominate Global Sunflower Oil Trade MarketOver last 7 years Ukrainian companies increased share in global sunflower oil trade. Ukraine now is

undisputable market leader with 56% global market share

Top Ukrainian Sunflower Oil Exports, K tons

484

28

433

76

1296

Kernel

Creative

Cargill

MHP

Others

844

148

375

176

1600

Kernel

Creative

Cargill

MHP

Others

1077

432

423217

2051

Kernel

Creative

Cargill

MHP

Others

Top-5 Ukrainian sunflower seed crushers held 30% of global sunflower oil export supply in 2013/2014

market year

2006/2007 2010/2011 2013/2014

2.3 M tons 3.1 M tons 4.2 M tons

28

Sunflower Seed Supply/Demand Balance in 2014/2015MYCrushing Capacities, M tons

12,3

1,3

11,0

Crushingcapacities,13/14MY

Capacitiesreduction, Donbas

conflict

Crushingcapacities,14/15MY

Sunflower Seed Supply, M tons

11,5 11,1

0,3

10,0 10,3

13/14MYharvest

13/14MYcrushing

13/14 MYresiduals

14/15harvest

14/15 totalsupply

29

Sunflower Seed Balance in the Crushing Industry: 2014/2015 MY

10,3

6,8

3,0

1,2

11,0

Sunflower seed supply Companies with financing Companies without financing Old press plants Total crushing capacities

VS.

Crushing Capacity by Type vs Sunflower Seed Supply, M tons

30

Soybean Market

Soybean Harvest, Crushing & Export, K tons Soybean Seeds Balance 2014/2015 vs 2015/2016, K tons

31

Soybean Oil & Meal MarketSoybean Oil, K tons Soybean Meal, K tons

142

29

115

14

174

31

140

17

Crushing Consumption Export Ending Stock

2013/2014

2014/2015

703650

86 81

880

750

13083

Crushing Consumption Export Ending Stock

2013/2014

2014/2015

Top Soybean Producers 2014/2015 MY, %

27%

21%

6%5%

5%

36%

Globyno Crushing Plant Protein production Tegra Ukraine LLC

Dnyprovsky Olyjar Other32

The Largest Grain Terminals inSea Ports of Ukraine

The cost of grain handling in ports of Ukraine varies from $15 to $20 per 1 ton.

33

№ Company Port Owner Capacity, kt Transshipment

2013/2014, kt

Storage, kt

1 TIS-Grain Yuzhnyi Private 6 500 6 293 370

2 Nibulon Mykolayiv Private 5 000 4 541 627

3 Olympex Coupe Odesa Private 3 200 2 670 255

4 Illichivskyi Grain Terminal Illichivsk Glencore 4 000 2 540 220

5 Ukrelevatorprom Odesa Alfred C. Toepfer (ADM) 2 500 2 347 210

6 Nika Tera Mykolayiv Private 3 000 2 210 210

7 Greentour-Ex Mykolayiv Bunge 4 000 2 171 134

8 Transbulkterminal Illichivsk Kernel 4 000 2 169 190

9 Borivage Yuzhnyi Privat Group 2 000 1 970 126

10 Odesa Port Silo Odesa State Food Grain Corp 1 380 1 000 98

11 Mykolayiv Port Silo Mykolayiv State Food Grain Corp 1 000 795 69

12 Brooklyn-Kiev Odesa Private 1 000 700 66

TOP 12 37 580 29 406 2575

Others 8 394

Total 37 800

Source: transhipment - Ukrainian Agrarian Confederation

Agenda

EXECUTIVE SUMMARY

COMPANY, STRUCTURE, MANAGEMENT

TRADING

TERMINAL AND MULTICRUSHER

TARGETED MARKETS AND COMPETITORS IN UKRAINE

GROUP FINANCIALS

34

Group Financials (1)(*) Major portion of foreign

currency revaluation loss

resulting from timing gap

between accrual of VAT

receivable and VAT refund

of amounts nominated in

UAH and related to

construction activities.

EBITDA disclosure shows positive

cash flow from operational activity.

35

In USD30 June 2013 30 June 2014

31 March 2015

(9 months)

Sales 164 304 000 241 203 000 220 489 333

Gross Sales Margin 6 642 000 15 723 000 12 516 092

EBIT 1 072 000 3 523 000 2 009 729

Other financial income (expenses), net 122 000- 1 109 000- 3 065 138-

Foreign currency reveluatiohn related to Operating activities 134 000 481 000- 576 527-

Foreign currency reveluatiohn related to Construction(*) - - 2 488 611-

Profit before taxes 950 000 2 414 000 1 733 738-

Profit/(Loss) for the period 1 043 000 2 045 000 1 845 958-

EBITDA disclosure

In USD30 June 2013 30 June 2014

01/07/2014 -

31/03/2015

EBITDA disclosure

NET Profit 1 043 000 2 045 000 1 845 958-

Tax expenses/(benefits) 93 000- 369 000 112 220

Depreciation&Amortization 46 000 783 000 577 595

Finance costs/(income) 122 000 1 109 000 3 588 947

EBITDA 578 000- 3 902 000 2 587 324

Group Financials (2)

36

ALLSEEDS S.A.

Consolidated Balance Sheet as at 31 March 2015 (9 months)

In USD 2 015 2 014

ASSETS

Current Assets, total 23 510 926 35 488 963

Fixed Assets 31 897 207 25 323 199

Construction in progress 48 963 947 2 920 999

Prepayment for PPE 2 821 311 679 707

Long-term loans 655 500 1 388 401

Non-Current Assets, total 83 297 208 34 271 448

TOTAL ASSETS 106 808 134 69 760 411

LIABILITIES & EQUITY

Short Term Liabilities, total 12 626 284 24 933 206

Long-term loans from banks 56 246 165 8 218 233

Long-term subordinated loans (related parties) 15 000 000 15 000 000

Long Term Liabilities, total 72 996 912 23 632 118

Total Equity 21 184 939 21 195 087

Total Capital Basis (Equity plus Subordinated Loan) 36 184 939 36 195 087

TOTAL LIABILITIES AND EQUITY 106 808 134 69 760 411