Slide 1: IMC S.A.
IMC S.A. Listed on the Warsaw Stock Exchange August 2022
Slide 2: Table of contents
Table of contents Company overview 3-28 Appendixes 29-33 2 2
Slide 3: Chapter 1: Company Overview
CHAPTER 1 COMPANY OVERVIEW 3
Slide 4: IMC - integrated agricultural business
IMC - integrated agricultural business IMC operates 120 ths hectares of land located in the prime fertile farming regions of Ukraine (Poltava, Chernihiv, Sumy) Crop farming Major crops: corn, sunflower, wheat Storage - Self sufficiency with storage capacities for own crop farming segment (554 ths to
Slide 5: Business segments' contribution
Business segments’ contribution Revenue breakdown, 2021 Total: USD 181.7 mln Crop farming Dairy 98,6% farming 0,9% Storage service 0,5% Crop farming revenue breakdown, 2021 Total: USD 179.2 mln Sunflower 25% Corn 60% Wheat 15% Other 0% 5
Slide 6: Milestones of development
Milestones of development Establishment & IPO Landbank & Storage Business processes Dividend payment & expansion improvement & KPIs Strategy update 2007-2011 2012-2014 2015-2016 2017-2021 First dividend payment of EUR 1.66 mln 2007-2009 2012-2013 (2% yield) in 2017. And - Establishment of IMC with -
Slide 7: Development track record
Development track record LAND BANK, ths ha REVENUE, mln USD 181,7 137 137 137 137 130 169,6 161,4 121 124 123 120 120 138,3 140,4 131,6 114,8 124,7 126,8 83 60 64 75,2 34 36 36 38 34,8 29,1 24,9 20,2 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 GRAIN & OILSEEDS STORAGE CAPAC
Slide 8: Strong export orientation in sales
Strong export orientation in sales EXPORTED CROPS: corn wheat EXPORT DESTINATIONS Asia EU Northern Africa Middle East IMC: Share of Export Revenue 100% 80% 78% 74% 80% 68% 74% 70% 73% 74% 58% 57% 52% 60% 48% 47% 40% 20% 0% 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 8
Slide 9: Favorable land bank location and infrastructure
Favorable land bank location and infrastructure 1 Kyiv 2 5 3 4 UKRAINE Grain and Land under Azov Sea oilseeds Cattle Black Sea # Cluster management, storage, (01.01.2022) ths ha ths t 1 Chernihiv 28.9 102 1014 2 Nosivka 29.6 115 - 3 Pryluky 18.3 160 - • 120 ths hectares in prime fertile farming regi
Slide 10: High capacity machinery park
High capacity machinery park • Seeders: Horsch • Tractors: John Deere, New Holland, Fendt, Case • Combines: New Holland • Cultivators and harrows: Kuhn, Case, Lemken, Farmet, Salford, Quivogne • Trucks 10
Slide 11: Self-sufficient storage capacities for crop farming segment
Self-sufficient storage capacities for crop farming segment • Strategic location of silos in key farming areas and close to IMC operations • All silos are linked to national railway network and allow grain shipments to ports by railcar • Self-sufficiency in storage capacity allows IMC to control pro
Slide 12: Crop production dynamics
Crop production dynamics Ths tonnes grain & oilseeds potato 856 834 795 777 706 717 674 638 555 301 154 172 127 117 56 0 2 4 6 15 25 21 20 16 21 23 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 12
Slide 13: Crop yields
Crop yields Gross Crop Yields, t/ha 11,1 10,6 9,7 9,3 9,1 9,1 8,1 7,1 7,3 6,7 6,3 5,7 5,5 5,8 5,7 4,9 5,2 5,0 4,8 3,7 3,5 3,5 3,2 2,9 3,5 2,6 2,6 2,8 2013 2014 2015 2016 2017 2018 2019 2020 2021 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2013 2014 2015 2016 2017 2018 2019 2020 2021 Corn Wheat
Slide 14: Spring Sowing Campaign 2022
Spring Sowing Campaign 2022 Fallow; 32,3 Corn; 120 50,2 ths ha Wheat; 18,3 Sunflower; 19,2 *Fallow: • About 32,000 hectares in the Chernihiv region, where active hostilities took place, must be inspected for the presence of explosive devices and remnants of shells. • We plan to return these lands to
Slide 15: Dairy farming
Dairy farming Raw milk production, ths t 23,7 22,5 20,8 19,2 15,6 16,1 18,1 15,0 12,9 5,8 5,0 5,3 4,4 4,2 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Annual Yields per cow, tonnes 6,7 5,4 5,5 5,6 6,0 6,1 6,4 6,1 5,0 5,1 5,2 5,3 5,3 Taking into account low and unstable pro
Slide 16: The constant flow of innovations introduced
The constant flow of innovations introduced Modern IT-solutions are widely used at IMC, that help to have real-time control of: Decision-making process, internal business-processes Operational on-site activities, field & crops conditions Utilization of resources & field operation control Land bank c
Slide 17: IMC e-portal
IMC e-portal all internal documents – transformed into e-form quick approval and response of everyone involved 40% shorter time for resolving internal issues & questions access from everywhere (PC, tablet, phone) 17
Slide 18: MAg – Mobile Agronomist
MAg – Mobile Agronomist operative e-mapping of all field operations real-time distant control of crops quality real-time reporting on agronomists’ work database of field operations & vegetation stages history 18
Slide 19: PreAgri – IMC Geoportal
PreAgri – IMC Geoportal all IMC geodata – at one place with 24/7 access NDVI maps – tracking field conditions weather stations data drones routes, photo & video seeding rate yield maps soil analyses 19
Slide 20: Wialon – GPS monitoring
Wialon – GPS monitoring all machinery & cars tracked speed control (safety; field operations accuracy) precise field works calculations proper logistics & planning 20
Slide 21: Panorama – land bank control
Panorama – land bank control more than 30 000 land plots digitalized proper land management all data on land plots owners at one place unified register of all land lease agreements 21
Slide 22: Precision Agriculture Department
Precision Agriculture Department created in 2017 crops seeded with autopilot own RTK stations installed – high-quality signal for GPS-controlled operations obtained section control on seeders (avoiding overlaps) soil analyses done – differential fertilizers application soil cultivation with autopilo
Slide 23: Innovations implemented in 2020
Innovations implemented in 2020 Drones low-volume spraying Field View software implementation Variable rate seeding on 10% of fields Field route optimization – increase of productivity up to 6% Retrofitting Horsch Maestro with Precision Planting system Updating field boundaries with increased accura
Slide 24: Innovations implemented in 2021
Innovations implemented in 2021 Soil sampling & analysis Lime implementation on acidified fields Carbon footprint management Overall seeding rate decrease Variable rate seeding High-speed seeding Variable rate fertilizers application Spraying with lower water content Soil compaction management Manur
Slide 25: Strategy 2016-2020
Strategy 2016-2020 Operational efficiency improvement Debt reduction Payment of dividends to shareholders No land bank expansion before the introduction of agricultural land market in Ukraine Export-oriented crops growing (with focus on corn) Storage capacity modernization Continuous search and intr
Slide 26: Execution of Strategy 2016-2020
Execution of Strategy 2016-2020 Total Debt, $ mln Total debt maximum, 163,8 1 February, 2014 140,0 129,9 104,3 80,6 83,6 64,5 58,8 47,0 33,2 32,8 22,0 31.12.11 31.12.12 31.12.13 01.02.14 31.12.14 31.12.15 31.12.16 31.12.17 31.12.18 31.12.19 31.12.20 31.12.21 Dividend payment September September Augu
Slide 27: Strategy 2021-2030
Strategy 2021-2030 Cultivation of highly profitable, export-oriented crops Operational efficiency improvement Sustainable development in relation to People Land Environment Annual payment of dividends to shareholders 27
Slide 28: Board of Directors and Shareholder structure
Board of Directors Oleksandr Petrov Chairman of the Board • Alex Lissitsa Shareholder structure Executive Director, CEO • Dmytro Martyniuk IMC S.A. has been listed Executive Director, CFO on the Warsaw Stock Exchange since May 2011 • Oleksandr Verzhykhovskyi Executive Director, COO Free float; • Ole
Slide 29: Chapter 1: Appendixes
CHAPTER 1 APPENDIXES 29
Slide 30: Selected Financials
Selected Financials Income Statement $ mln 2014 2015 2016 2017 2018 2019 2020 2021 6m 2021 6m 2022 1. Financials are Revenue 138,3 140,4 124,7 126,8 131,6 169,6 161,4 181,7 84,8 44,5 audited by Baker Tilly (2010, 2011, Normalised EBITDA 57,4 66,5 59,0 39,1 50,8 39,3 71,8 110,3 91,9 29,0 2012, 2013,
Slide 31: Key Ratios
Key Ratios 6m 2014 2015 2016 2017 2018 2019 2020 2021 2022 Current ratio 1.2 1.2 2.4 2.0 2.1 1.6 2.3 2.8 3.0 Net Borrowings/Equity 4.9 1.8 1.2 0.6 0.5 0.3 0.1 0.0 0.1 Net Borrowings/EBITDA 2.2 1.5 1.3 1.5 1.1 1.1 0.2 0.0 0.7 Interest coverage 2.3 4.0 3.9 5.0 7.7 4.5 24.1 108.8 367.7 Equity/Assets 0.
Slide 32: Fair value methodology for biological assets of crop farming and agriculture produce
Fair value methodology for biological assets of crop farming and agriculture produce Winter Spring crops crops September- Sowing April – October Biological assets are booked at cost May December - Biological transformation June - March - June August Biological assets are booked at fair value Harvest
Slide 33: Contact details
Adr. 119х Lobanovskyi Valerii Avenue, business center “DemievSky”, Kyiv, 03039, Ukraine IR contact Yulia Andrushkina, y.andrushkina@imcagro.com.ua www.imcagro.com.ua 33