Annual financial and audit reports - IMC S.A.

Annual report For the year ended 31 December 2025

CONTENTS

Consolidated management report

Group overview 3

Financial and operational results 7

Alternative performance measures 15

Selected Financial Data 16

Risk management report 17

Sustainability report

General disclosures 22

Environment 34

Own Workforce 48

Business conduct 65

Affected Communities 69

Corporate governance statement 74

Consolidated financial statements

Management responsibility statement 79

Report of the réviseur d'entreprises agréé 80

Consolidated statement of comprehensive income 86

Consolidated statement of financial position 87

Consolidated statement of changes in equity 88

Consolidated statement of cash flows 89

Notes to the Consolidated financial statements 91

Separate financial statements 140

CONSOLIDATED MANAGEMENT REPORT Group overview Who we are

IMC is an integrated agricultural business operating in Ukraine. In May 2011 IMC conducted IPO on Warsaw Stock Exchange. The main areas of IMC's activities are:

• cultivation of grain & oilseeds crops

• storage of grain & oilseeds crops

  IMC is among Ukraine's top-10 agricultural companies.

  Land bank location and infrastructure

  
  
  

• 115 ths hectares in prime fertile farming regions of Ukraine.

• High concentration of land plots within the clusters (average distance between fields up to 20 km).

• Developed and self-sufficient farming infrastructure:

  • own storage capacities for grain and oilseeds

  • logistic infrastructure

  • own machinery park

IMC's

Key facts 2025

Business model

Existence of branches

The Company has no branches.

Strong export orientation in sales

Corn Wheat

Asia

EU

Northern Africa Middle East

EXPORT DESTINATIONS

Key performance indicators Revenue, mln. USD

211,3

181,7

190,5

139,5

114,0

75,9

Net profit, mln. USD

67,5

54,6

-1,1

2021 2022 2023 2024 2025

-21,0

2021 2022 2023 2024 2025

107,5

EBITDA, mln. USD

Debt, mln. USD

45,7

86,2

95,8

36,2

3,2

38,4

32,8

23,3

17,9

2021 2022 2023 2024 2025 2021 2022 2023 2024 2025

Strategic and forward-looking

Group strategy

IMC SMART GREEN STRATEGY 2023-2033

Strategic directions:

• Operational efficiency improvement

• Fossil fuel consumption decrease

• Greenhouse Gas emission reduction

• Preservation of Soil fertility & health

• Investments in the acquisition of agricultural land in Ukraine

• Personnel development

• Local communities support

  Further likely development

  Further likely development of the Group in 2026 will depend on the dynamics and scale of the war against Ukraine. As of the time of issuing this report, we focus on the following tasks:

  • Focusing on three crops - corn, sunflower and wheat. Area under these crops is planned as 58%, 23% and 19% of the total crop mix in 2026 (59%, 22% and 19% in 2025 respectively);

  • Focusing on business efficiency - we expect that implementation of our Research & Development department results will optimize production efficiency in 2026;

  • Debt maintenance at the level of USD 10,7 million at the end of 2026 (USD 17,9 million at the end of 2025);

  • Compliance with safety rules and retention of IMC personnel;

  • Focusing on export sales through sea ports and maintaining a constant share of shipments by rail;

  • Using certified seeds, crop protection products and fertilizers from leading world manufacturers.

  Financial and operational results World economy
  
  

  WHEAT

  According to USDA report "Grain: World Markets and Trade", January 2026, in 2025/2026 MY:

• Ukraine ranks # 7 in the ranking of the world's largest wheat exporters with a share of 6,4% of global wheat exports

  in ths tonnes

  Wheat	2024/25	2025/26	Y-o-Y,%
  World Production	800 807	842 167	5,2%
  World Consumption	810 858	823 910	1,6%
  World Trade (export/import)	204 434	219 713	7,5%
  World Ending Stocks	259 995	278 252	7,0%

  Source: USDA report "Grain: World Markets and Trade", January 2026. In ths tonnes.

  
  
  

  CORN

  According to USDA report "Grain: World Markets and Trade", January 2026, in 2025/2026 MY:

• Ukraine ranks #4 in the ranking of the world's largest corn exporters with a share of 11.6% in global corn exports

  in ths tonnes

  Corn	2024/25	2025/26	Y-o-Y,%
  World Production	1 230 863	1 296 014	5,3%
  World Consumption	1 251 590	1 299 801	3,9%
  World Trade (export/import)	190 993	197 922	3,6%
  World Ending Stocks	294 696	290 909	-1,3%

  Source: USDA report "Grain: World Markets and Trade", January 2026

  
  
  Ukrainian economy

  2025 GDP and Inflation

  In 2025, inflation in Ukraine slowed to 8.0% compared to 12.0% in 2024, reported State Statistics Service of Ukraine.

  According to preliminary estimates by the Ministry of Economy, Environment, and Agriculture of Ukraine, Ukraine's real GDP grew by 2.2% in 2025.

  In 2025, Ukraine's economy continued to operate amid attacks on energy infrastructure, complex logistics, and high security risks. Nevertheless, Ukraine's economy showed growth close to the forecast, supported by positive dynamics, particularly in the following key sectors:

• domestic (primarily retail) trade;

• construction;

• manufacturing, in particular, the increase in the production of defense products, pharmaceuticals, metallurgical products, building materials, and other products.

  In turn, the following factors contributed to the slowdown:

• massive Russian missile attacks on power generation facilities and, for the first time in years of full-scale war, on gas extraction infrastructure;

• lower yields of certain crops due to unfavorable weather conditions (in particular, according to the Ministry of Economy, Environment, and Agriculture of Ukraine, the largest decrease was in oilseeds: soybeans -26.9%, sunflower seeds -15.8%, rapeseed -7.6%; sugar beet -13.9%; at the same time, the grain harvest was up by more than 3%);

• logistical difficulties, the cessation of natural gas transit by pipeline, and a decline in demand, particularly from agriculture.

2025 Grain, Leguminous and Oilseeds harvest in Ukraine

According to the Ministry of Economy, Environment, and Agriculture of Ukraine in 2025 despite full-scale war and difficult weather conditions, Ukrainian farmers harvested 57.6 million tonnes of grain and 17.3 million tonnes of oilseeds. After the corn harvest is completed (part of the 2025 corn crop will be harvested in early 2026), total grain production is expected to reach about 60 million tonnes.

These figures are particularly significant in the context of Ukraine's European integration course. In terms of grain production, Ukraine already ranks second among European Union countries, after France (63.1 million tonnes), ahead of Germany (45.2 million tonnes) and Poland (36.5 million tonnes), - highlighted Taras Vysotskyi, Deputy Minister of Economy, Environment and Agriculture of Ukraine.

2025 Export of agricultural products from Ukraine

According to data from the State Customs Service of Ukraine, in 2025 Ukraine exported agricultural products worth US$22.71 billion. This is 9% less than in 2024 (US$24.84 billion). The decline in exports was caused by a reduction in exports to the European Union (US$10.8 billion in 2025 vs. US$13.0 billion in 2024), mainly due to frequent changes in trade conditions with the EU and a lag in the pace of harvesting 2025 crop.

According to estimates by scientists at National Scientific Center "Institute of Agrarian Economics", the main regional markets for Ukrainian agricultural products remained unchanged in 2025. However, last year, the value of exports to the European Union and Asia decreased, while supplies to African countries increased.

Export of agricultural products from Ukraine by regions in 2025:

Source: State Customs Service of Ukraine, National Scientific Center "Institute of Agrarian Economics"

TOP 10 importers of agricultural products from Ukraine in 2025

Source: State Customs Service of Ukraine, National Scientific Center "Institute of Agrarian Economics"

Financial and operational results

The following table sets forth the Company's results of operations derived from the Consolidated financial statements:

(in thousand USD) For the year ended

31 December 2025

For the year ended 31 December 2024

Changes, %

CONTINUING OPERATIONS

Revenue 190 482 211 288 -10%

The increase in normalised EBITDA in Y2025, as well as the increase in net profit for the period, is due to increase in grain and oilseeds prices during the period.

Revenue

The Company's revenue from sales of finished products decreased by 10% in Y2025 in comparison with previous period. The following table sets forth the Company's sales revenue by products indicated:

The most significant portion of the Company's revenue comes from selling corn, which represented 58,2% in Y2025 and 51,1% in Y2024 of total revenue.

The following table sets forth the volume of the Company's main crops and revenues generated from the sales of such crops:

For the year ended For the year ended

31 December 2025 31 December 2024

Cost of sales

The Company's cost of sales changed to USD 179,8 million in current period from USD 178,0 million in previous period. The following table sets forth the principal components of the Company's cost of sales for the periods indicated:

Foreign currency exchange, net

As at 31 December 2025 Ukrainian Hryvnia devaluated against the USD compared 31 December 2024 by 0,8% (9,6% of devaluation as at 31 December 2024 compared 31 December 2023), 3,7% of devaluation for the average rate 2025/2024 in comparison with 8,9% of devaluation for the average rate 2024/2023. During the 2025 the Group recognised net foreign exchange gain in the amount of USD 490 thousand and USD 4 501 thousand of net loss for the 2024 (relates mostly to the revaluation of loans) in the Consolidated statement of comprehensive income.

Cash flows

The following table sets out a summary of the Company's cash flows for the periods indicated:

The Company's net cash inflow from operating activities decreased to USD 72,2 million in current year from USD 91,6 million in previous year. The decrease in Y2025 was primarily attributable to decrease in sales volume.

The Company's net cash outflow from investing activities decreased to USD 11,0 million in Y2025 from USD 22,5 million in Y2024 which is in line with the Group's CAPEX program.

Net cash outflow from financing activities increased to USD 60,3 million in current year from USD 37,4 million in previous year, and was attributed to the payment of dividends.

Acquisitions of own shares

No own shares were acquired during the year.

Innovative technologies and R&D

Precision Farming department and Research and development department implemented the following technologies in operating activities:

• Autopiloting systems with RTK accuracy - allows to increase the efficiency of any field operations by 6-8% and the corresponding fuel economy. Currently, IMC has 100+ autopilots.

• Section control systems on sowing and spraying - a technology that allows to switch off sections at overlaps and save significantly on chemicals, seed and fertilizers.

• Row Sense system and Row Vision system on spraying machines - technology that avoids trampling plants when spraying industrial crops.

• The Raven VSN&RADAR system on the Tecnoma sprayer is a technology that avoids trampling on industrial crops during spraying.

• Use of Amazone ZG-TS 10001 smart fertilizer spreaders with load cell system, hydraulic drive, sectional control, automatic online calibration and VRA technology.

• Equipping the fertilizer spreader with the Argus Twin system - the system constantly measures and adjusts the spreading direction to optimize lateral distribution and Constant Flow Control - is a constant monitoring and correction of the application rate proportional to speed (kg/ha). CFC fixes the torques of the spreading disc drives and uses them to calculate the metering slide position regardless of the spreading direction.

• Monitoring the quality of field operations - each seeder and sprayer machine has a controller, which records the actual work done.

• JD Operations Center integration for receiving, transmitting, accumulating and analyzing big data from field equipment.

• Integration of Crop Wise Operation to conduct high-quality field agronomic scouting.

• Wialon GPS monitoring system - a software product that is used to organize the traffic control of machines, control fuel and record of work done.

• Satellite monitoring - periodically, during the year, satellite monitoring of all crops in the fields of the IMC is carried out to identify deviations in the growing of crops.

• Carrying aerial photography by drones - each of our enterprises is equipped with drones, which provides detailed aerial survey of fields, allowing quick identification of the nature of heterogeneity and react to any deviations in the vegetation of plants.

• Yield sensors systems on each combine for yield mapping of each field.

• Implementation of Precision Planting equipment into sowing process - extremely increases quality of sowing.

• NFC field data transmission between trucks & weighing system on each grain cart - to control grain movement from field to storage.

• Agrogeoportal - PreAgri - it acts as the only platform for collecting, storing, processing and visualizing all geospatial data from fields.

• Meteo stations network within our fields.

• Permanent field rout optimization and boundaries actualization with digital GIS tools.

• Implementation of systematic control of soil compaction, control of the depth of basic tillage, and annual control of the tillage line. High soil hardness impedes the normal growth of the plant root system, moisture accumulation, air exchange, nutrient absorption, etc. Using a handheld penetrometer, you can identify problem areas at different depths with reference to GPS coordinates.

• Implementation of ultra-low-volume application of desiccant and insecticide by agro-drones for our crops in the outsourcing format.

• We bought mounted sprayers with controllers and sectional control for qualitative testing of plant protection products and herbicides on our trial fields (Agropolygons).

• Installation of mobile weather stations on self-propelled sprayers to track and control the performance of technological operations within the recommended and permissible values of temperature, wind and humidity.

• Wireless data transfer integration for Trimble equipment for fast data synchronization between the office and the equipment. Exclusively for mineral fertilizer spreaders.

The elements of precision farming are tested and introduced by the R&D department: systems for GPS-monitoring of the machinery, auto-piloting, satellite monitoring, variable rate for seeding and fertilization. Main types of experiments are connected with hybrids and varieties (seeding materials), plant protection products, plant fertilizer systems, precision farming systems, soil tillage systems, testing of agricultural equipment (drillers, planters, sprayers etc.).

The results of the work of the R&D department:

• Testing of optimal seeding rate (different from the recommendations of the seed manufacturer) and selecting of optimal protection products was carried out. The results of the experiments were applied in practice, which allows saving materials while maintaining the qualitative and quantitative characteristics of the future crop.

• Precision planting equipment was tested and introduced to large-scale production.

• R&D department created separate trial fields (Agropolygons) with small plots in all clusters of IMC. This approach helps us to concentrate a large amount of trials in one location and to analyze the results of trials in equal conditions in a more scientific way than previously.

• R&D department has successfully implemented the new approach to accounting trials using GIS technologies (joint project with OneSoil and ClimateFieldview), as a result-creation of small plot trials.

  There were no development costs capitalized in the accounts, the research is done internally and is consequently captured mainly in the costs of personnel and amounted USD 170 thousand for Y2025 (USD 172 thousand for Y2024).

  
  
  

  Alternative performance measures

  Certain measures were included in this report but they are not measures of performance under IFRS - Alternative performance measures (APM). Management believe that these APMs assist in providing additional useful information on the underlying trends, performance and position of the Group. APMs are used for performance analysis, planning, reporting.

  Alternative performance measures are:

  • Normalised EBITDA

  • Debt

  • Net Borrowings

  • Current ratio

  • Interest coverage

  • Segment's results

Normalised EBITDA

Earnings before interest, taxes, depreciation and amortisation (EBITDA) is calculated as revenue less expenses, the latter excluding tax, interest, depreciation and amortisation. Being a proxy to the operating cash flow before working capital changes, EBITDA is widely used as an indicator of a company's ability to generate cash flows, as well as its ability to service debt. Consequently, the normalised EBITDA serves as a measure to estimate financial stability of the Company. Besides, excluding the effect of depreciation and amortisation along with cost of capital and taxation provides external users other measures comparable to similar companies regardless of varying tax environments, capital structures or accounting policies regarding depreciation and amortization.

The Company calculates Normalised EBITDA by adjusting Net profit for the expense items that are deemed to be substantially beyond the control of management, as well as items believed to be non-recurring. The Normalised EBITDA for the periods presented is calculated based on historical information derived from the Consolidated financial statements.

The reconciliation to Normalised EBITDA for the period (from continuing operations) is presented as follows:

(in thousand USD) For the year ended

31 December 2025

For the year ended 31 December 2024

Changes, %

The Group believes that these measures better reflect the Group core operating activities and provide both management and investors with information regarding operating performance, which is more useful for evaluating the financial position of the Group than traditional measures, to the exclusion of external factors unrelated to their performance.

Debt

Debt is defined as bank borrowings. The Group believes that Debt is commonly used by securities analysts, investors and other interested parties in the evaluation of a company's leverage.

Net Borrowings

Net borrowings is defined as bank borrowings (Debt) less cash and cash equivalents. The Group believes that Net borrowings is usually used in conjunction with Debt when assessing a company's leverage.

Current ratio

The current ratio is a liquidity ratio that measures a company's ability to pay short-term obligations. The ratio considers the weight of total current assets versus total current liabilities. It indicates the financial health of a company and how it can maximize the liquidity of its current assets to settle debt and payables.

Interest coverage

The interest coverage ratio measures the ability of a company to pay the interest on its outstanding debt. This measurement is used by creditors, lenders, and investors to determine the risk of lending funds to a company. The interest coverage ratio is calculated by dividing a company's earnings before interest and taxes (EBIT) by its interest expense during a given period.

Segment's results

The Group uses as a key measures of segment operating performance Gross income of the segment. Expenses and incomes that are not included in gross income are not allocated to each segment and are presented separately as unallocated. Accordingly, the segment's operating income, profit before tax and net profit are equal to the segment's gross income.

Selected Financial Data

Risk management report

Risk management at IMC

Risk management is the process of reducing the possibility of adverse consequences either by reducing the likelihood of an event or its impact or taking advantage of the upside risk. The goal of the risk management at IMC is to provide a reasonable assurance that Group's business objectives will be achieved. This process encompasses such stages as risk identification, risk assessment, risk response and risk mitigation, monitoring.

Risk identification. Managers of every department are responsible for tracking of potential risks concerning their functions. Risks must obviously be identified before they can be managed.

Risk assessment. List of risks should be prioritised according to the likelihood of occurrence and impact on the organization (department) goals. The most essential risks need urgent attention.

Risk response and risk mitigation. Management has to construct effective plan to deal with each significant risk identified. Tools aiming to mitigate risks are established at internal documents (instructions, rules, methods, etc.).

Monitoring. Risks are monitored on an ongoing basis. Where risks change or new risks are identified then those risks are added to the risk assessment for appropriate categorisation and action. Internal audit process is the main tool for risk monitoring.

IMC's management is responsible for day-to-day monitoring, identification, assessment and planning mitigation activities concerning operational risks in the course of its ordinary performance. Internal controls at IMC are the main tools of operational risks mitigation process. Established internal policies and internal regulatory documents are the primary mediums of internal controls implementation.

The Board of Directors currently maintains responsibility for overseeing enterprise risk management process and strategic risks. Major risk exposures are regularly discussed at the board meetings.

IMC's accounting-related risk management system

IMC's control system relies on daily resource planning analyses which are detailed by cost center and cost article, department, thus providing all the necessary information for controlling inventories and products.

IMC established internal controlling instruments to secure proper accounting in compliance with legal requirements.

IMC's accounting procedures are governed by standardized guidelines and rules as well as a clearly defined course of action in different situations. Therefore, standard account parameters and booking directions for various production operations were established. Another control tool is the clear allocation of functions regarding various accounting processes. For Group consolidation and accounting purposes all bookkeeping data of the consolidated companies may be accessed automatically.

The internal control system of IMC is based on the accounting database thus integrating all controlling processes. Accounting processes are carried out on a high-level basis and are monitored and adjusted by specialists.

IMC's accounting-related risk management system is set up in a way that the risk of misrepresentation could mainly ensue from new business processes or amendments to legal provisions. Risks are contained by transferring decisions on accounting-relevant data resulting from new business processes to the management level. Ongoing continuation training regarding the applicable accounting provisions from time to time is provided to the management.

The Group's internal control and risk management system in relation to the process for preparing consolidated financial statements is closely related to control mechanisms of accounting procedures. Consolidated financial statements are prepared on the basis of verified and approved accounting system data. Consolidated financial statements are carried out by specialists, the level of which is maintained annually by training. Consolidated financial statements are verified by the management by comparing of control points with management reports.

The Internal Control and Risk Management Department

The Internal Control and Risk Management Department was established as the separate unit in a corporate governance structure of the Group.

The Department is created with the aim of the regular independent monitoring and estimation of effectiveness of the IMC corporate governance, efficiency of separate business processes at the level of group and separate structural subdivisions, assessing

of adequacy of the risk management process, providing with recommendations and participation during an improvement process. The Department participates in improvement of internal control, risk management and governance processes.

The Department regularly provides the management of IMC and the Audit Committee with independent and objective valuations and consultations. This involves an objective analysis of actual data with the aim of estimation and expression of an opinion on reliability of systems, processes, operations.

IMC Corporate Misconduct Hotline

Corporate hotline was launched at IMC to prevent and inform possible breaches of internal regulations, such as cases of discrimination, dishonest conduct, harassment, thefts, any type of corruption and bribery, etc. The hotline encompasses several anonymous channels for whistleblowers - call-center, email box, web-interface. IMC guarantees anonymity and protection for all informants, if this does not contradict the current legislation. All reasonable messages via hotline are processed and feedback is sent to whistleblowers. More information concerning the hotline for stakeholders is available via web-link https://imc.ethicontrol.com/web/en/pages/about.

Anti-corruption and bribery matters

It is the policy of the Group not to engage in bribery or corruption and comply with applicable anti-corruption laws. We adhere to the UN Global Compact principles of bribery and anti-corruption:

• We shall work against corruption in all its forms, including extortion and bribery.

• Making, promising or offering any payments, gifts or inducements with the purpose of influencing someone (incl. government officials, suppliers, clients, etc.) to act improperly is strictly forbidden; the same applies to accepting payments, gifts or inducements.

• All payments should be reasonable and fall within the acceptable commercial practice.

• All such expenses have to be properly recorded in the accounts.

• We do not tolerate so-called facilitating payments (for example small unofficial payments to officials in order to speed up processes).

• The Group does not make political contributions.

• When engaging in business relationships the Group chooses its partners with the same zero tolerance approach to corruption and bribery.

• The Group appreciates the risk of corruption and bribery in the countries it operates and continues to take measures to minimize this risk.

• All funds received and paid by the Group and its subsidiaries during the course of business are strictly accounted and handled via bank transfers exclusively to minimize the possibilities of cash being taken in or out for the purposes of bribery. In 2025, the Group continued to ensure its adherence to such cash management.

Key risks faced by the Group

Risks relating to the Industry

• Grains prices volatility

  Changes in market prices for grains can adversely influence on IMC's earnings and financial results.

  To decrease an influence of this risk the Group, on permanent basis, researches the international and Ukrainian agricultural markets, monitoring price fluctuations and factors affecting these fluctuations (stocks, production, consumption, export, import, forecasts). Based on an analysis of the above-mentioned information, the management of the Group makes decisions regarding crop rotation structure and production plans.

  Sound control over the grains production costs at IMC allows the Group to ensure sufficient level of marginality regardless of price fluctuations. The Group cooperates with large grain traders, which allows to sell large quantities of grain at the most favorable prices of the export market.

  Operational risks

• Adverse weather conditions

  Poor and unexpected weather conditions may disrupt the Group's production of crops.

  The land cultivated by the Group is spread between different climate zones of Ukraine. This allows to reduce the possible negative impact of adverse weather conditions. Additionally, to mitigate an influence of this risk IMC uses the following practices:

  • On the fields of IMC the system of different depth soil cultivation is applied: deep ripping, ploughing, disking, and cultivation. Rotation of these cultivation methods allows creating the optimal conditions for growth and development of agricultural crops;

  • Cultivation of share of winter crops up to 20% in the general crop rotation structure enables to decrease the risk of disruption of a general production of crops during unfavorable winter conditions.

• Increase of input costs

  The Group's operating costs could increase and adversely affect IMC's financial performance. The risk of the Group's operating costs increase is basically connected to a possible price growth for fuel, seeds, fertilizers and crop protection materials.

  To reduce the risks mentioned above the Group:

  • has implemented the fuel consumption and machinery usage controlling systems using GPS-trackers;

  • follows the land bank development strategy based on principle of fields' close proximity to each other that allows to reduce fuel consumption;

  • is focused on limited number of crops that allows to use and purchase seeds, fertilizers and crop protection materials more efficiently;

  • has built long-term and mutually benefitted relationships with suppliers of seeds, fertilizers and crop protection materials.

• Customer concentration risk

  Focusing on large wholesale world traders, the Group has a small pool of customers and could be influenced by customer concentration risk. But the work of the Group with a small number of customers is not due to the lack of other customers or the impossibility of entering new markets, but to the selected sales strategy - the best conditions for selling are ensured by relations with large traders. To control the risk before each sale, a tender is held among buyers to determine the best conditions of the transaction. Making a choice in the direction of the buyer, management understand the level of supply and demand for the products on the market with other participants and Group's capabilities in the event of a change of buyer.

• Credit risk

  Counterparties involved in transactions with IMC may fail to make scheduled payments, resulting in financial losses to IMC.

  To decrease an influence of this risk the Group has implemented credit policy and monitoring practices. Policies and operating guidelines include limits in respect of counterparties to ensure that there is no significant concentration of credit risk. Credit risks are managed by legal activities which include security paragraphs into agreements with customers. Also the financial department of the Group constantly carries out monitoring over payment terms deadlines according to goods selling contracts.

• Risk of key personnel shortage

  A lack of key personnel can threaten the overall performance of IMC.

  The Group conducts series of activities to mitigate this risk. IMC offers competitive working conditions for potential employees. Performance related remuneration scheme exists to motivate and retain key staff. IMC cooperates with a number of Ukrainian educational institutions for selection and hiring talented students. Educational and professional trainings are regularly held for personnel at IMC.

• Risk of land loss

  Land is a key resourse in agricultural production and termination of essential number of land lease agreements can cause significant damage for the Group.

  To mitigate this risk, the Group holds a number of social events for the local communities to make IMC's presence beneficial for Company's land lessors. The terms of land lease agreements have been revised and re-signed in the best interest of counterparties. As at 31 December 2025, 90% of land lease agreements are valid for a period over 5 years and 81% of contracts are valid for a period of more than 10 years (as at 31 December 2024 - 94% and 81% correspondingly).

• Risk of cybersecurity incidents

  IMC's corporate information system can be corrupted by virus attack or external intrusion.

  Operations of the Group are highly dependent on corporate IT system in all aspects. In 2017, companies of the Group have experienced a cybersecurity attack which has not had a material impact on our business. To prevent and mitigate this risk a series of actions have been done. The infrastructure of IMC's intranet has been improved in order to mitigate the risk of unauthorized external intrusion. A backup process was reconstructed to ensure a maximum possible safety of corporate business data. The riskiest points of unauthorized external intrusion have been isolated outside IMC's intranet.

  Financial risks

• Risk of capital deficiency

  Failure to generate or raise sufficient capital may restrict the Group's development strategy

  To decrease an influence of this risk the Group works on several sources of financing: bank crediting, financing by international financial organizations.

• Risk of liquidity

  It exists the risk of inability to meet financial obligations of the Group in due time.

  To minimize such risk IMC maintains efficient budgeting and cash management processes to ensure that adequate funds are available to meet business requirements. IMC adopts a flexible CAPEX program enabling capital projects to be deferred if necessary.

• Risk of interest rate volatility

  Fluctuations of interest rates influence on the cost of IMC's borrowings.

  The Group utilizes balancing strategy to mitigate interest rate risk and, whenever possible, always strives to obtain loans with a fix interest rate. The portfolio of IMC's borrowings consists of 35% of variable rate debt and 65% of fixed rate debt as at 31 December 2025 (38% of variable rate debt and 62% of fixed rate debt as at 31 December 2024).

  IMC's creditors are well-known banks with a foreign capital or international financial institutions. As result, the cost of IMC's financial resources is lower than the market average.

• Fluctuation in currency exchange rates

  Unfavorable movements of currency exchange rates can lead to deteriorating of company's financial results.

  The main functional currencies for IMC are Ukrainian hryvnia and US dollar. Since the Group is export oriented, most of regular financial planning cash inflows are matched in US dollar, when outflows are matched both in US dollar and Ukrainian hryvnia. Stable revenue in US dollar limits the risk resulting from national currency devaluation. In 2025, the Ukrainian hryvnia devaluated against the US dollar from the beginning to the end of the year, which was reflected in a decrease in the Group's net assets at the end of the year in US dollar terms.

  Legal and regulatory risks

• Risk of non-compliance

  The Group's business is influenced by regulatory rules of each country where IMC operates. A breach of these rules can cause legal proceedings and additional costs for the Company.

  The monitoring of legislation changes is constantly conducted by the Legal Department at IMC. Employees regularly visit specialized events on legal issues. Group's business operations are conducted in accordance with current legislation taking into account possible future regulatory development.

  War-related risks

• Logistics risk

  Blocking seaports or not extending the Grain agreement will lead to a decrease in sales volume.

  To reduce the impact of this risk, the Group is developing additional shipping routes - there are contracts for shipment by rail across the western borders of Ukraine, as well as across the Danube. A project is being worked out to attract trucks to further increase sales across the western borders.

• Infrastructure missile attack risk

  In order to minimize possible loss of assets from the destruction of infrastructure, the group's assets are distributed and diversified in different regions and locations. Additional fire and medical assistance measures have been organized on the ground.

• Risk of electricity shortage

  Reduction of electricity consumption across the entire IMC supply chain. Diesel generators were purchased both for domestic use (to ensure the operation of offices and warehouses) and industrial use (to maintain the operation of elevators). A project to re-equip the elevator for alternative energy sources has been developed. To meet the demand for natural gas for grain drying, contracts for its purchase are concluded before the start of the drying season.

• Loss of inventory risk

  To reduce the risk of loss of stocks from destruction due to missile attacks, stocks are placed in different regions and different locations. To reduce the risk of damage of stocks from long-term storage, alternative shipping routes are being developed to prevent the accumulation of stocks in warehouses, and plastic sleeves are used for storing crops in order to ensure the most correct storage conditions outside the elevator.

• Disruption in the supply chain

  The company continues to work with the largest suppliers of certified agricultural materials, which ensures the availability of the necessary materials, the possibility of their purchase in advance, and reduces logistics costs due to large quantities. The company has enough storage facilities to provide itself with the necessary stocks of agricultural materials.

• Employee-related risks

  Mitigations to ensure that employee welfare is protected and strengthened include: evacuating employees deemed most at risk from dangerous areas; ensuring no concentration of critical employees in one location, with back-up critical functions organised; training employees on defensive measures on how to behave and to protect themselves in the War.

• Risk of insufficient funding

  Negotiations with banks in case of necessary short-term financing to cover the cash gap. Working with large buyers to ensure the timeliness and completeness of payments, as well as asking of deferred payments from suppliers.

• Counterparty risk

  To reduce the risk of non-payment, the Group works with large grain traders and buyers. To minimize disruption of the supply chain, large suppliers are selected.

• IT risk

To minimize the risk of possible attacks by Russian hackers, the data storage was moved to a more secure server. Regular training and testing of employees for knowledge and compliance with information security rules.

SUSTAINABILITY REPORT

General disclosures

About this report

BP-1 General basis for preparation of sustainability statements Consolidated basis of reporting

This Sustainability Statement has been prepared on a consolidated basis, in alignment with the consolidated financial statements of IMC S.A. Unless explicitly stated otherwise, the scope of consolidation follows the same perimeter applied in the Company's financial reporting and includes all operational entities of the IMC in Ukraine. This approach is consistent with prior reporting periods and ensures full comparability of sustainability disclosures across reporting cycles.

In preparing the IMC Sustainability Report, IMC follows the general principles of completeness, materiality and stakeholder engagement. This Sustainability Statement provides non-financial information for IMC for the fiscal year ending on 31 December 2025. The data presented in this section is consolidated with IMC's financial statements for the same period.

Unless otherwise specified in the relevant chapters of this report, the scope covers IMC as a whole, including its Ukrainian operating companies, with sustainability policies, procedures and governance structures applicable across all operational units and, where relevant, along the upstream and downstream value chain.

IMC provides comprehensive information on the ESRS requirements relevant to general disclosures and material topics.

IMC has conducted a double materiality assessment to identify key sustainability topics that are critical to its business and stakeholders. The assessment focuses on areas that may have a significant economic, environmental or social impact, or may influence stakeholder decision-making. Priority topics are addressed in detail in the thematic sections of this report, while lower-priority issues are monitored and periodically reviewed.

All production activities and operations of IMC are based in Ukraine. The governing bodies, policies and procedures described in this report primarily relate to operations in Ukraine and to the holding company structure in Luxembourg where applicable.

BP-2 Disclosures in relation to specific circumstances

In the fiscal year 2025, IMC completed a greenhouse gas (GHG) inventory covering Scope 1, Scope 2, Scope 3 emissions in methodological alignment with IPCC guidance and GHG protocol.

IMC's GHG inventory has been prepared in accordance with the GHG Protocol using an operational control approach.

Where primary activity data was unavailable, IMC applied estimation techniques based on recognized international databases and internal modelling tools.

For FLAG emissions (Forest, Land and Agriculture), IMC uses IPCC-aligned models based on field-level agronomic data. In cases where historical soil carbon measurements or residue data are missing, estimates are derived using crop type, tillage practice, soil characteristics and IPCC default coefficients.

For several Scope 3 categories-including certain purchased goods and services, upstream transportation, business travel, and employee commuting-emissions are calculated using spend-based emission factors from NAICS/EPA, DEFRA, carbonsaver.org and other internationally recognised databases. Employee commuting data is partially based on internal survey results and extrapolated to the full workforce.

All approximations follow the hierarchy and rules defined in recognised GHG accounting standards (GHG Protocol), ensuring a transparent, consistent and methodologically reliable approach to sustainability reporting.

Where material deviations occur, IMC provides explanatory notes to ensure transparency, clarity and comparability for stakeholders monitoring changes in the Company's sustainability performance.

Sustainability standards and reporting frameworks

IMC's sustainability reporting for 2025 has been prepared in accordance with the European Sustainability Reporting Standards (ESRS), reflecting the Company's commitment to transparency and responsible business practices. This report explains how IMC conducts its business responsibly and how it manages its impacts on society and the environment.

IMC incorporates internationally recognised sustainability principles through selected external standards relevant to the agricultural sector. The Company maintains ISCC EU certification, which ensures compliance with sustainability criteria related to greenhouse gas emissions, traceability, land use, biodiversity protection and responsible sourcing. In addition, IMC operates internal management systems that are aligned with the principles of ISO 14001 (environmental management), ISO 45001 (occupational health and safety) and ISO 39001 (road traffic safety), although the Company does not hold formal certifications under these standards.

The Company maintains compliance with relevant Ukrainian environmental legislation and uses internationally recognised methodologies for GHG accounting. IMC's greenhouse gas emissions are calculated based on the GHG Protocol, IPCC methodologies and internal agronomic-data-driven models for FLAG emissions.

IMC also follows best practices used across the agricultural sector, including principles of sustainable soil management, safe use of agrochemicals and responsible land relations. The Company maintains occupational health and safety processes aligned with recognised international approaches and national regulatory requirements.

Additional information on IMC's business model, strategy, policies and performance, including the Sustainability section and published corporate policies such as the Code of Business Conduct and the Code of Responsible Suppliers, is available on the corporate website: https://www.imcagro.com.ua and specifically in the section "Сталий розвиток / Sustainability".

Governance

GOV-1

The role of the administrative, management and supervisory bodies

IMC's administrative, management and supervisory bodies play a pivotal role in guiding the Company's operations, ensuring alignment with regulatory frameworks, ethical standards, and sustainability objectives.

Corporate structure and governance system

IMC is incorporated as a société anonyme in Luxembourg and listed on the Warsaw Stock Exchange (WSE). It operates with a one-tier board system consisting of both executive and non-executive directors.

IMC has six executive directors on its Board:

• Oleksandr Petrov, Executive Director, Founder

• Alex Lissitsa, Executive Director, Chairman

• Oleksandr Verzhykhovskyi, Executive Director, CEO

• Dmytro Martyniuk, Executive Director, CFO

• Olena Krysenko, Executive Director, Commercial Director

• Sergii Klimishyn, Executive Director, Legal Director Non-executive Members of the board:

• Andrzej Szurek, Non-executive Director, Head of Remuneration Committee

  In 2024, Andrzej Szurek was assigned the role of Sustainability Board Champion, overseeing sustainability responsibilities on the Board.

• Alfons Balman, Non-executive Director, Head of Audit Committee

  IMC is working to enhance diversity, especially in terms of gender and skills related to sustainability, in line with best practices in corporate governance.

  Embedding sustainability into governance

  IMC has opted for a Sustainability Board Champion model, with Andrzej Szurek, Board member, Non-executive Director taking on the role of ensuring sustainability oversight. His responsibilities are integrated into IMC's Corporate Governance Charter. Future plans of the Company include the establishment of a dedicated Sustainability Committee chaired by a non-executive director with expertise in ESG matters.

  In 2025 IMC strengthened its sustainability governance through the implementation of new corporate documents, including the Code of Business Conduct, the Responsible Procurement Instruction, the Code of Responsible Suppliers, and the Group Risk Management Procedure. These documents formalise the responsibilities of internal control, procurement, HR, legal, HSE and sustainability functions within IMC's governance system.

  IMC has established a Management Sustainability Committee, chaired by the CEO, to ensure coordinated oversight of the Company's sustainability strategy and ESG performance. The Committee comprises executive directors and senior managers from key functions-including Production, Commercial, HSE, Land Relations & Social Policy Development, HR, Finance, Investor Relations and Legal-ensuring that sustainability considerations are embedded into Company-wide decision-making.

  In 2025, the Committee held five formal meetings. These meetings provided structured oversight of key sustainability matters such as the approval of new sustainability policies, monitoring progress on ESG KPIs, reviewing GHG calculation methodologies, supervising ESRS report preparation and coordinating ISCC EU certification requirements.

  The Deputy CEO for Sustainability serves as the coordinating lead, consolidating sustainability information and reporting directly to the CEO and the Sustainability Board Champion. This governance structure ensures clear allocation of responsibilities and effective integration of sustainability into IMC's management processes.

  At the department level, sustainability responsibilities are distributed across various functions. The Commercial Department handles sustainability elements in supplier contracts, while the HR Department ensures fair work conditions and diversity. The Production Department focuses on reducing GHG emissions in agricultural operations.

  Overview of the relevant responsibilities is provided in table 1 below:

  Table 1 Overview of roles and responsibilities related to ESG within IMC departments

  Department	Relevant responsibilities
  Health Safety Environment (HSE) Department	environmental, health and safety matters
  Production Department	implementation
  Commercial Department
  Land Relations and Social Policy Department
  HR Department
  Economic and Financial Service	- Preparation of feasibility studies and budgeting for all ESG initiatives and projects
  Legal Department	- Legal support for litigation and any ESG-related issues (if any)
  Department for Economic Security	- Participation in the review of complaints from stakeholders

  • Environmental policy development and implementation regarding

  • Compliance control with national environmental protection requirements

  • GHG emissions calculation

  • GHG Emission reduction production technologies and projects

  • Implementation of policies ensuring production with minimal negative impacts on the environment

  • Guiding the certification process under ISCC EU

  • Procurement of production inputs meeting high technological demands while ensuring environmental and health protection

  • Handling relations with landowners

  • Implementation of social programs

  • Processing of complaints and requests from landowners and local communities

  • Checking and improving work conditions

  • Ensuring equal treatment and opportunities for all

  While the current Board does not have a dedicated sustainability committee, the Sustainability Board Champion ensures that the board is equipped to manage sustainability issues.

  Since October 2024, Yuliia Logvynenko has acted as the Deputy CEO for Sustainability, reporting to the Sustainability Board Champion and the Chief Executive Officer. The Deputy CEO for Sustainability acts as a key subject matter expert on sustainability related to IMC's operations and value chain where together with a Committee team responsible for development, coordination and implementation of the Company's sustainability strategy, targets, plans and programs.

  Employee representation and governance framework

  IMC ensures employee representation in line with Ukrainian labour legislation and its internal HR policies. Employees engage with management through regular communication with HR teams, interactions with line managers and participation in established health and safety committees across IMC sites. The Company guarantees freedom of association and equal treatment for all workers.

  IMC provides several channels for raising concerns, including internal grievance mechanism and the confidential IMC Corporate Misconduct Hotline (Ethicontrol), which enables reporting of labour, safety, ethical or behavioural concerns. All reasonable submissions are reviewed and investigated, and employees are protected from retaliation. These mechanisms ensure structured social dialogue and support IMC's commitment to fair and transparent workforce relations.

  GOV-2

  Information provided to and sustainability matters addressed by the undertaking's administrative, management and supervisory bodies

  The administrative, management, and supervisory bodies of IMC actively engage in sustainability matters. The key departments, as outlined in Table 1, were directly involved in material topics risk assessment, climate risk evaluation, GHG inventory preparation, and addressing environmental, social, and governance (ESG) challenges across the value chain. Their collaborative efforts support IMC's sustainability objectives and compliance with the EU's ESG reporting requirements.

  IMC has established a governance structure that ensures regular and systematic reporting of sustainability matters to its administrative, management and supervisory bodies. Sustainability topics are integrated into IMC's operational and strategic decision-making through formal reporting channels and cross-functional coordination mechanisms.

  The Management Sustainability Committee, chaired by the CEO, serves as the central platform for reviewing sustainability progress, risks, impacts and opportunities. The Committee met five times in 2025 and reviewed key matters including policy implementation, ESG KPI progress, climate-related disclosures, GHG methodology, environmental and social initiatives and ISCC EU compliance. The Deputy CEO for Sustainability consolidates information from all departments and reports findings to the CEO and the Sustainability Board Champion, ensuring that relevant insights reach the supervisory bodies in a timely manner.

  Sustainability matters addressed by IMC's administrative and management bodies

  As per the sustainability governance structure, the following departments play a crucial role in identifying and managing sustainability-related risks and opportunities:

• Health, Safety, and Environment (HSE) Department: Responsible for GHG emissions calculation, environmental policy development, and ensuring compliance with national environmental regulations.

• Production Department: Focuses on implementing sustainable production technologies and processes

• Commercial Department: Ensures procurement aligns with sustainability standards, especially related to environmental and health protection, while overseeing the certification process under ISCC EU.

• Land Relations and Social Policy Development Department: Manages social programs, addresses the needs of local communities, and handles relations with landowners, mitigating potential social risks.

• HR Department: Addresses working conditions, equal treatment, and workplace safety, ensuring that human capital management aligns with sustainability goals.

• Economic and Financial Service: Prepares feasibility studies and manages budgeting for ESG-related initiatives and projects.

  Reporting structures and information flow

  Relevant departments regularly provide sustainability-related information to the Committee and senior leadership. This includes updates on environmental compliance, workplace safety, social initiatives, land relations, procurement risks, climate impacts, and GHG emissions. The structured reporting process ensures that the CEO, executive directors and the Board's Sustainability Champion are informed about:

• progress on sustainability goals and KPIs,

• material impacts, risks and opportunities identified across the value chain,

• results of due-diligence processes, internal audits and incident reports,

• updates on internal sustainability policies and control systems,

• ESRS reporting status and compliance requirements.

  Consideration of sustainability-related impacts, risks and opportunities

  The involvement of these departments ensures that the following sustainability matters are systematically addressed and overseen by the administrative, management, and supervisory bodies:

• Climate Risk Assessment and Opportunities: Evaluation of the physical and transitional risks related to climate change and the identification of opportunities to reduce the company's carbon footprint and enhance resilience.

• Negative Impact Assessments: Regular assessments of the company's operations to minimize environmental and social risks, particularly concerning agricultural practices and land use.

• GHG Inventory Preparation: Multiple departments, particularly the HSE and Production Departments, participated in the preparation of the GHG inventory for Scope 1, 2, and 3 emissions, including FLAG emissions. This comprehensive GHG inventory allows for the identification of emission reduction opportunities.

• Monitoring and coordination of ESG KPIs defined in the Company's 2025 Sustainability Goals, oversight of IMC's sustainability policies implemented in 2025.

  To ensure adequate expertise, IMC's administrative and management bodies have access to external sustainability experts and internal specialists from key departments. These resources allow them to effectively address and integrate sustainability matters into the Company's broader business strategy.

  Monitoring and performance mechanisms

  Sustainability performance is continuously monitored through:

• regular Committee meetings and documented protocols,

• cross-functional data review and validation,

• monitoring ESG KPIs,

• departmental reporting cycles,

• external expertise used for climate and GHG methodology alignment (IPCC, ISCC EU),

• internal management systems aligned with ISO 14001 and ISO 45001 principles.

  This governance structure ensures that IMC's supervisory and management bodies receive timely, accurate and relevant sustainability information, enabling informed decision-making and effective oversight of sustainability impacts, risks and opportunities.

  GOV-3

  Integration of sustainability-related performance in incentive schemes

  IMC is in the process of progressively integrating sustainability considerations into its performance management and remuneration framework. While a comprehensive ESG-linked incentive model has not yet been fully adopted, the Company has taken concrete steps to embed sustainability-related responsibilities into the performance expectations of executive directors and senior managers.

  Key prerequisites for the accrual of the annual bonus for key management personnel are:

• the profitability of the Company, confirmed by the audited annual financial statements published on the Company's website and on the Warsaw Stock Exchange;

• the successful and timely preparation and publication of the IMC Sustainability Report.

  These prerequisites reinforce the link between remuneration, financial discipline, and the quality and reliability of IMC's sustainability reporting in line with ESRS requirements. They ensure that management accountability covers both financial performance and transparent non-financial disclosures.

  GOV-4

  Statement on due diligence

  This Sustainability Report has been prepared on a voluntary basis. At the date of publication, there is no legal requirement applicable to the Company to obtain external assurance over sustainability disclosures.

  The information presented in this report has not been subject to independent external audit or third-party assurance. All data has been compiled using internal reporting systems, methodologies aligned with applicable ESRS requirements, and oversight from responsible departments, including the Management Sustainability Committee.

  GOV-5

  Risk management and internal controls over sustainability reporting

  IMC has established an internal control system to ensure the accuracy, reliability and completeness of sustainability information prepared in accordance with ESRS. In 2025 the Company strengthened its governance framework with several new policies and procedures, including the IMC Code of Business Conduct, the IMC Responsible Procurement Instruction, the IMC Code of Responsible Suppliers, the Instruction "Risk Management in IMC Group Companies", the IMC Stakeholder Engagement Plans, and the Human Resources Policy. These documents expanded IMC's internal control environment by introducing unified standards for ESG risk identification, assessment, mitigation and reporting throughout the organisation.

  In addition, IMC formalised its enterprise-wide risk management approach through the Instruction "Risk Management in IMC Group Companies". This Instruction sets out unified principles, roles and processes for identifying, assessing, responding to and monitoring risks across the organisation. ESG-related risks - including environmental compliance, climate risks, social impacts, responsible procurement, occupational safety and business conduct - are fully integrated into this system and reported through the established governance structure to the Management Sustainability Committee.

  IMC applies multiple internal controls to ensure the quality and integrity of sustainability reporting, including:

• Automated grievance and incident reporting via Ethicontrol, providing a structured, auditable channel for environmental, social and business conduct concerns.

• Digital operational systems - IMC e-Portal, PreAgri Geoportal, CropWise, Wialon GPS monitoring and Panorama - which ensure traceable, centralised and reliable data for environmental, land, agronomic and operational indicators.

• Procedural procurement controls introduced through the Responsible Procurement Instruction, including mandatory supplier ESG screening, compliance documentation checks, sanctions verification and sustainability-related contract provisions.

• Supplier compliance controls through the Code of Responsible Suppliers, which require adherence to responsible business conduct, environmental standards, labour rights and enable IMC to perform supplier audits and corrective action plans.

• Internal audits and cross-functional reviews, ensuring alignment between operational, financial and sustainability data.

• Defined ESG KPIs for 2025, which provide a structured and traceable approach to monitoring progress towards IMC's sustainability goals.

In addition, in 2025 IMC developed a FLAG emissions calculation program based on field-level agronomic, land-use and soil data within the Company's internal Business Automation Framework (BAF). This program enhances the accuracy, traceability and consistency of IMC's climate-related disclosures directly into IMC's GHG accounting model.

Together, these systems and formalised procedures ensure that IMC's sustainability reporting is robust, consistent, reliable and compliant with ESRS requirements, while supporting continuous improvement of data governance and risk management processes across the organisation.

Market position, strategy, business model and value chain

SBM-1

IMC operates within the agricultural sector of Ukraine (among top-10 agricultural companies), focusing on sustainable and efficient farming practices. The Company is committed to enhancing its market position through innovative strategies that prioritize environmental responsibility while ensuring operational excellence.

Business segments' contribution and value chain

The Company's value chain encompasses crop cultivation, production logistics and grain storage. This integrated approach ensures efficient management from production to market delivery.

IMC's value chain encompasses a comprehensive sequence of activities that ensure efficient agricultural production and market access while integrating sustainability and innovation. The upstream segment begins with input supply, involving the procurement of essential agro-inputs such as seeds, fertilizers, and pesticides, alongside machinery acquisition and supplier contracting. Moving to on-farm activities, the land preparation and cultivation phase focuses on soil preparation, planting strategies, plant protection, and crop monitoring using agri-tech solutions. As crops mature, the harvesting and primary processing stage involves harvesting, post-harvest handling (such as sorting and drying), and initial storage in on-farm silos.

The sales and market access phase targets both domestic and international markets.

Strategic Directions

IMC's Smart Green Strategy outlines a comprehensive approach to achieving sustainability across its operations. The strategic directions include:

1. Operational Efficiency Improvement: IMC continuously seeks to optimize its farming practices and resource management, aiming to enhance productivity while minimizing waste and energy consumption.

2. Fossil Fuel Consumption Decrease: The Company is actively working to reduce its reliance on fossil fuels by exploring alternative energy sources and more efficient machinery.

3. Greenhouse Gas Emission Reduction: IMC is committed to decreasing its GHG emissions through various initiatives, including the implementation of precision agriculture technologies and sustainable farming practices.

4. Preservation of Soil Fertility & Health: The Company recognizes the importance of maintaining soil health for longterm agricultural productivity. IMC implements practices that promote soil conservation and fertility, ensuring sustainable yields.

5. Investments in the Acquisition of Agricultural Land in Ukraine: IMC aims to strengthen its landholdings in Ukraine to enhance its operational capacity and support sustainable agricultural practices.

6. Personnel Development: The Company invests in training and development programs for its employees, ensuring that they are equipped with the necessary skills and knowledge to implement sustainable practices effectively.

7. Local Communities Support: IMC is dedicated to supporting the communities in which it operates. This includes initiatives aimed at fostering local economic development and improving the quality of life for community members.

Sustainability-related goals

IMC integrates sustainability into its core business strategy, focusing on climate action, sustainable land management, responsible sourcing and workforce development. The Company's sustainability goals are approved at Board level and monitored by the Management Sustainability Committee.

Climate and Environment

IMC aims to reduce its environmental impact and strengthen climate resilience. The Company has set a long-term target to reduce absolute GHG emissions by 10,000 t CO₂e by 2030 (baseline: 2020).

Soil Health and Sustainable Agriculture

IMC promotes sustainable farming practices by expanding precision technologies (42,499 ha under VRA in 2024), improving soil structure through strip-till, deep loosening, cover crops and fertiliser optimisation, and implementing land decarbonisation measures.

People and Workforce

IMC is committed to building a safe, diverse and skilled workforce. Key goals include:

• Zero fatalities and continuous LTIF reduction toward 2030

• 30% women in top management by 2030 (25% achieved in 2025)

• Ongoing development of training, career growth and occupational safety systems aligned with ISO 45001 and ISO 39001 principles.

Responsible Business and Supply Chain

IMC aims to advance responsible procurement by integrating ESG criteria into purchasing processes. The long-term goal is to ensure that 67% of key suppliers (covering 80% of supply-chain emissions) are engaged in the supplier sustainability programme by 2030. In 2025 IMC introduced the Code of Responsible Suppliers, Responsible Procurement Instruction and ESG evaluation processes for key suppliers.

Interests and views of stakeholders

SBM-2

IMC operates in a dynamic environment characterized by diverse stakeholder groups with varying demands and expectations. IMC monitors stakeholders' expectations, continuously improving communication channels. All stakeholders are encouraged to submit feedback or complaints through dedicated channels.

Identified Stakeholder Groups and engagement methods

IMC engages with its stakeholders through various channels to ensure transparent communication and maintain strong relationships. The annual report serves as a comprehensive resource for shareholders, investors, and creditors, offering detailed insights into the Company's performance and strategy. The corporate website provides up-to-date information and serves as a primary platform for communicating with clients, consumers, and the public. Additionally, IMC has established a grievance mechanism to allow stakeholders, including employees, local communities, and suppliers, to submit feedback, complaints, or suggestions, ensuring these concerns are addressed promptly and transparently. This multi-channel approach fosters an open dialogue and builds trust with all key stakeholder groups.

Integration of stakeholder interests into strategy and business model

IMC maintains continuous dialogue with its key stakeholders. Engagement with landowners, local communities and regional authorities helps shape IMC's social programmes, land management practices and community investment priorities. Feedback from employees supports improvements in working conditions, safety culture, training and inclusion initiatives. Investor expectations reinforce IMC's focus on transparency, responsible business conduct and long-term sustainability commitments, while interactions with suppliers influence the development of IMC's responsible procurement policies and ESG requirements.

These perspectives are reviewed by the Management Sustainability Committee and incorporated into strategic planning to ensure that IMC's business model remains aligned with stakeholder interests. During the reporting period, stakeholder feedback indicated strong alignment between IMC's strategic direction and stakeholder expectations; therefore, no material changes to the business model were required. IMC ensures ongoing alignment through structured mechanisms such as community engagement channels, the Corporate Misconduct Hotline, supplier consultations, board-level sustainability oversight and regular internal communications across the Company.

Material impacts, risks and opportunities and their interaction with strategy and business model

SBM-3

The Company acknowledges that ESG-related risks, including climate-related physical and transition risks, may significantly influence its operations and long-term sustainability. The risk assessment process involved close engagement with key stakeholders to ensure that IMC's business strategy aligns with evolving sustainability challenges and opportunities.

IMC conducted a risk assessment for environmental, social, and governance (ESG) risks using the double materiality principle. This assessment focused on identifying material impacts, risks, and opportunities that affect IMC's strategy and business model.

IRO-1 Description of the processes to identify and assess material impacts, risks and opportunities

IMC applies a structured double materiality assessment methodology to identify and evaluate material impacts, risks and opportunities (IROs) across its operations and value chain, in accordance with ESRS requirements. The process integrates stakeholder insights, value-chain mapping, internal risk management practices and expert evaluation to determine which sustainability matters are material for the Company.

Identification of relevant IROs

The assessment begins with a review of IMC's entire value chain - from agricultural inputs and production activities to grain storage, logistics and downstream distribution. Based on this mapping, IMC identifies potential environmental, social and governance impacts associated with its operations. Stakeholder relevance is considered by analysing expectations and concerns raised through IMC's engagement channels with employees, landowners, local communities, suppliers, customers, investors and regulators.

Additional sources informing the identification of IROs include IMC's internal governance documents (e.g., the Code of Business Conduct, Responsible Procurement Instruction, HR Policy), insights from the Company's grievance mechanisms, results of internal control and risk management processes, benchmarking with peer agricultural companies and sector-specific sustainability frameworks (such as ISCC EU criteria).

Impact materiality assessment

IMC evaluates potential and actual impacts across three categories - environmental, social and governance - using a structured Impact Materiality Scoring Methodology. Topic experts assess each impact based on:

• Scale: severity of the impact at the local, regional or broader level

• Scope: how widespread the effect may be within or beyond IMC's operations

• Irremediability: the degree to which the impact can be reversed

• Likelihood: the probability of occurrence for potential impacts

Each dimension is evaluated on a multi-level severity scale. Environmental assessments consider soil degradation, GHG emissions, resource use and pollutant risks. Social assessments address workforce health and safety, community impacts and equal treatment. Governance assessments include ethics, compliance and corruption-related risks.

Financial materiality assessment

In parallel, IMC evaluates sustainability-related risks and opportunities using its internal financial materiality scoring system. Topic experts assess potential effects on financial performance, including impacts on EBITDA, CAPEX, operational continuity, regulatory compliance costs and corporate reputation (e.g., adverse media exposure, stakeholder confidence).

Financial risks and opportunities are rated based on magnitude and probability, using predefined internal thresholds. The combination of these two parameters determines whether a risk or opportunity is material. This ensures that sustainability-related risks are evaluated consistently with IMC's broader enterprise risk management approach.

Consolidation of results and threshold application

The results of the impact materiality and financial materiality assessments are compiled and compared against defined thresholds to determine the final set of material sustainability topics. Impacts or risks with medium-level scores are reassessed to ensure that no important issues are omitted. The assessment also considers short-, medium- and long-term time horizons.

Validation and approval of material topics

The preliminary results are reviewed by IMC's Management Sustainability Committee, which includes the CEO, executive directors and senior managers from key departments. The Committee validates the prioritisation, confirms consistency with IMC's strategic objectives and governance framework, and ensures alignment with regulatory expectations. Following this review, the final list of material topics is approved and used to guide strategic decision-making, risk management and reporting.

This multi-step, iterative process ensures that IMC's double materiality assessment captures all relevant impacts, risks and opportunities across the Company's value chain and supports informed decision-making at the administrative and management levels.

IRO-2 Disclosure requirements in ESRS covered by the undertaking's sustainability statement

An overview of the ESRS disclosure requirements addressed in this Sustainability Statement is provided in the ESRS Index. The determination of which disclosure requirements are included is based on IMC's double materiality assessment (see section IRO-1 Description of the processes to identify and assess material impacts, risks and opportunities), conducted in accordance with ESRS 1.

Information is considered material when it relates to IMC's identified material impacts, risks or opportunities and provides relevant, decision-useful insights for report users. Based on the assessment, IMC has identified the following material sustainability topics, which form the basis for the disclosures presented in this report:

1. Own Workforce

2. Supplier and Customer Engagement

3. Affected Communities Support

4. Health and Safety

5. Soil Pollution and Degradation

6. Climate Change

7. Substances of High Concern

8. Business Conduct

These topics are reflected throughout the report in the corresponding ESRS topical disclosures and guide IMC's sustainability strategy, governance and risk management processes.

Environment Climate change

E1.SBM-3 - Material climate-related impacts, risks and opportunities and their interaction with strategy and business model

Based on the double materiality assessment and the climate-specific Impact, Risk and Opportunity (IRO) analysis, IMC has identified material climate-related impacts, risks and opportunities that directly affect its agricultural business model and longterm value creation.

Material climate-related impacts

IMC's principal actual negative climate-related impact is the generation of GHG emissions across its value chain, including:

• FLAG emissions from agricultural activities such as soil management, fertilizer application and land use;

• Non-FLAG emissions related to energy use, grain drying, storage operations and logistics.

  Additional actual negative impacts include soil degradation processes-such as reduced soil moisture retention, erosion, intensified humus decomposition and declining groundwater recharge-exacerbated by changing climatic conditions and extreme weather events. These impacts occur primarily in own operations, with contributions from upstream inputs and downstream transportation.

  Climate-related risks

  IMC has identified material physical and transition climate risks.

  Physical risks include acute events (droughts, heatwaves, storms) causing crop losses and infrastructure disruptions, as well as chronic risks such as rising temperatures, reduced snow cover affecting winter crops, soil moisture loss and long-term yield volatility. These risks may result in revenue volatility, increased operating costs and higher adaptation investment needs.

  Transition risks include rising input and energy costs driven by carbon pricing and regulatory changes, increased CAPEX for low-carbon technologies and energy-efficient equipment, and potential short-term yield impacts during the transition to climate-aligned agricultural practices.

  Climate-related opportunities

  Material opportunities identified include:

• Deployment of regenerative and climate-smart agriculture (reduced tillage, cover crops, soil restoration) supporting carbon sequestration and soil resilience;

• Energy transition opportunities, including substitution of fossil fuels with biomass, waste grains, biomethane and other renewable sources;

• Cost reduction opportunities through resource and energy efficiency;

• New revenue streams from carbon farming, voluntary carbon markets, sustainable finance;

• Business diversification opportunities enabled by changing climatic conditions. Interaction with strategy and business model

  Climate-related impacts, risks and opportunities are directly integrated into IMC's Smart Green Strategy and Decarbonisation Action Plan, which aim to reduce emissions, enhance climate resilience and leverage climate-related opportunities to support long-term productivity, operational efficiency and financial stability.

  IMC has conducted a climate resilience analysis aligned with TCFD recommendations, applying NGFS transition scenarios (NDC and Net Zero 2050), confirming climate change as a material driver of IMC's strategic and operational decisions.

  Transition plan for climate change mitigation

  E 1-1, 4

  IMC has established a transition plan for climate change mitigation as part of its Smart Green Strategy and corporate-wide Decarbonisation Action Plan. The plan focuses on reducing greenhouse gas (GHG) emissions from agricultural activities and related operations, while improving soil health, resource efficiency, and long-term resilience of production systems.

  The transition plan covers both FLAG (Forest, Land and Agriculture) and non-FLAG emissions and is designed to be implemented progressively between 2024 and 2030, taking into account agronomic feasibility, climatic conditions, and operational constraints.

  Objectives and targets

  IMC's long-term climate objective is to achieve a total reduction of 10,000 tonnes of GHG emissions by 2030 compared to the 2020 baseline, including emission reductions, sequestration, and removals. This objective is disclosed in the 2024 Sustainability Report and remains valid for the 2025 reporting cycle.

  The Company has outlined a progressive implementation schedule (2024-2030) for agro-related activities, including:

• Deep Loosening: Expanding from 14,000 ha in 2024 to 35,000 ha by 2030.

• Cover Crops: Scaling from 100 ha in 2024 to 2,000 ha by 2030.

• Strip-Tillage: Introducing 100 ha in 2025, increasing to 2,000 ha by 2030.

• Nitrification Inhibitors: Growing from 100 ha in 2025 to 10,000 ha by 2030.

• Green Ammonia Use: Starting at 100 ha in 2025 and expanding to 10,000 ha by 2030.

  For 2025, IMC has defined operational ESG KPIs supporting the transition plan, including:

• Implementation of agro-related decarbonisation measures across defined areas (hectares);

• Monitoring of environmental indicators;

• 2% absolute reduction in GHG emissions compared to the previous year, reflecting a conservative, implementation-driven approach.

IMC has not adopted science-based targets under the SBTi framework, and the transition plan is not positioned as a Paris-aligned

1.5°C pathway at this stage.

Decarbonisation approach FLAG mitigation measures

The core of IMC's transition plan consists of changes in agricultural practices aimed at reducing emissions and enhancing soil carbon sequestration. Key measures include:

• Deep loosening, improving soil structure and carbon retention;

• Cover crops, enhancing soil organic matter and moisture retention;

• Strip-tillage, reducing soil disturbance and fuel use;

• Nitrification inhibitors, reducing nitrogen-related emissions;

• Green ammonia, intended to reduce fertilizer-related emissions over time.

  Implementation progress (plan vs. actual)

  IMC monitors implementation of the transition plan on an annual basis. For 2024-2025, the following progress was recorded:

  Measure	2024 plan (ha)	2024 fact (ha)	2025 plan (ha)	2025 fact (ha)
  Deep loosening	14,000	14,250	17,500	17,827
  Cover crops	100	76	500	220.83
  Strip-till	0	0	100	41.5
  Nitrification inhibitors	0	0	100	497
  Green ammonia	0	0	100	0

  Implementation results demonstrate partial achievement of planned measures, reflecting agronomic conditions, availability of inputs, and pilot-stage deployment for certain technologies (e.g. green ammonia).

  Non-FLAG mitigation measures

  Non-FLAG actions focus on energy efficiency and fuel substitution, including:

• Reduction of fossil fuel consumption in grain drying and storage;

• Increased use of biomass and waste grain as alternative fuels;

• Incremental modernization of equipment and logistics to reduce diesel consumption.

  Locked-in emissions and flexibility

  IMC has not identified significant locked-in emissions requiring large-scale asset replacement. The transition plan relies primarily on practice-based changes rather than irreversible capital-intensive infrastructure investments, allowing flexibility to adjust implementation pathways as technologies mature and economic conditions evolve.

  During the reporting period, IMC did not undertake significant capital expenditures related to coal, oil or gas expansion.

  EU Taxonomy alignment

  IMC has assessed its activities against the EU Taxonomy Regulation and concluded that its core agricultural activities do not meet the technical screening criteria for climate change mitigation or adaptation. Accordingly, the transition plan is not linked to Taxonomy-eligible or aligned activities.

  Limitations and next steps

  The transition plan reflects IMC's current level of climate governance maturity and data availability. While long-term objectives and mitigation measures are defined, further development is required to:

• Refine interim milestones beyond area-based KPIs;

• Improve quantification of annual emissions reductions attributable to specific measures;

• Strengthen integration of climate targets into financial and investment decision-making.

  IMCs Smart Green Strategy is an integral part of its commitment to responsible environmental stewardship and sustainable development. This strategy focuses on enhancing operational efficiency, minimizing fossil fuel consumption, and reducing greenhouse gas (GHG) emissions, all aimed at addressing climate change while preserving natural resources. By investing in soil fertility and health, IMC ensures that agricultural practices contribute to long-term sustainability.

  IMC has implemented a corporate-wide Decarbonization Action Plan to achieve targeted reductions in greenhouse gas (GHG) emissions by 2030. The plan integrates specific measures for both FLAG (Forest, Land, and Agriculture) and Non-FLAG activities, reflecting the Company's commitment to sustainable agriculture and alignment with international climate goals.

  IMC aims to achieve a total reduction of 10 000 tonnes GHG emissions by 2030 relative to the 2020 baseline, including sequestration and removals. This includes:

  • Reduction of FLAG emissions: Focused on crop management practices.

  • Reduction of Non-FLAG emissions: Addressing emissions in processing, transportation, and energy use. The Company has outlined a progressive implementation schedule (2024-2030) for agro-related activities, including:

• Deep Loosening: Expanding from 14,000 ha in 2024 to 35,000 ha by 2030.

• Cover Crops: Scaling from 100 ha in 2024 to 2,000 ha by 2030.

• Strip-Tillage: Introducing 100 ha in 2025, increasing to 2,000 ha by 2030.

• Nitrification Inhibitors: Growing from 100 ha in 2025 to 10,000 ha by 2030.

• Green Ammonia Use: Starting at 100 ha in 2025 and expanding to 10,000 ha by 2030.

  IMC's measures are strategically allocated to reduce emissions across its major crop activities, ensuring optimization of FLAG and non-FLAG sectors.

  The governance structure ensures alignment of decarbonization efforts with long-term business strategies and compliance with global sustainability standards.

  This transition plan highlights IMC's dedication to implementing practical and scalable solutions to mitigate climate impacts while improving agricultural resilience and operational efficiency.

  Policies related to climate change mitigation and adaptation

  E 1-2

  IMC's approach to climate change mitigation and adaptation is governed by its Policy on Occupational Health, Safety and Environmental Protection, approved by the CEO and applicable across IMC's headquarters and all regional enterprises.

  The policy establishes high-level principles for managing environmental and climate-related impacts alongside occupational health and safety and applies to IMC's own operations, including agricultural production, storage and processing.

  Within the policy framework, IMC commits to:

  • Reducing environmental and climate-related impacts through efficient use of energy and raw materials and preventive environmental management;

  • Implementing risk-based and preventive approaches to environmental protection;

  • Continuously improving environmental performance beyond minimum legal requirements;

  • Enhancing operational resilience through systematic risk identification, land and resource management and adaptive planning.

    The policy also addresses protection of air, water and soil, pollution prevention, emergency preparedness and responsible use of natural resources, including measures to reduce environmental incidents.

    The policy sets high-level principles, while operational implementation is carried out at field, regional and business-unit level through procedures, agronomic practices and management controls. Responsibility for implementation lies with operational management.

    IMC's policy framework ensures compliance with applicable Ukrainian legislation on occupational safety, health and environmental protection and supports continuous improvement of environmental standards.

    Climate change actions

    E1-3

    IMC is implementing a set of climate change mitigation and adaptation actions aimed at reducing greenhouse gas (GHG) emissions from agricultural activities, improving resource efficiency, and strengthening the resilience of its operations to physical climate risks. The actions are aligned with IMC's Policy on Occupational Health, Safety and Environmental Protection, the Smart Green Strategy, and the Decarbonisation Action Plan.

    IMC's climate actions focus on own operations, with primary emphasis on FLAG-related mitigation measures and selected non-FLAG actions related to energy efficiency and fuel use. Actions are implemented at field, regional and business-unit level and are monitored through environmental and operational KPIs.

    The actions address:

  • Reduction of GHG emissions from agricultural practices;

  • Enhancement of soil carbon retention and soil resilience;

  • Reduction of energy and fuel consumption;

  • Adaptation to changing climatic conditions and extreme weather risks. Actions taken and progress achieved

    During 2024-2025, IMC implemented and scaled the following key climate actions:

  • Reduced tillage (deep loosening) to improve soil structure and reduce emissions from conventional ploughing;

  • Cover crops to enhance soil organic matter and moisture retention;

  • Strip-tillage as a pilot practice to reduce soil disturbance and fuel use;

  • Nitrification inhibitors to reduce nitrogen-related emissions;

  • Energy and fuel optimisation, including the use of biomass and waste grain as alternative fuels where feasible. Planned actions

    IMC plans to continue and expand climate actions over the 2024-2030 period, including:

  • Further scaling of reduced tillage, cover crops and strip-till practices;

  • Gradual introduction of green ammonia as a pilot solution when technically feasible;

  • Continued optimisation of fuel and energy use in storage, drying and logistics;

  • Strengthening monitoring of environmental indicators (e.g. nutrient efficiency, water use, soil indicators). Adaptation actions

    Climate change adaptation is addressed through:

  • Improved soil management practices;

  • Adaptive agronomic planning to address yield variability and extreme weather risks;

  • Ongoing assessment of physical climate risks based on climate scenario analysis.

    The majority of climate actions are implemented on a short- to medium-term horizon (2024-2026) and contribute to IMC's longterm decarbonisation objective to 2030.

    Financial and resource allocation

    Climate actions are primarily implemented through operational and agronomic practice changes, rather than large capital-intensive investments. IMC has not reported dedicated climate-specific CapEx or OpEx figures for these actions, as investments are integrated into routine operational and agricultural budgets.

    E1-4 - Targets related to climate change mitigation and adaptation

    IMC has established climate-related targets aligned with its Policy on Occupational Health, Safety and Environmental Protection, the Smart Green Strategy, and the Decarbonisation Action Plan. Targets focus on reducing greenhouse gas (GHG) emissions from agricultural activities, improving resource efficiency, and strengthening the resilience of operations to climate-related risks.

    Progress against targets is monitored through environmental and operational KPIs.

    The year 2020 has been selected as the baseline for IMC's climate targets, as it represents the first year with consistent and complete data coverage for agricultural activities and related emissions. The baseline aligns with IMC's internal climate strategy and emissions accounting methodology.

    IMC's climate actions cover:

• Own operations (Scope 1 and 2), with a primary focus on FLAG-related mitigation measures in agricultural production;

• Material Scope 3 categories, in particular upstream fertiliser supply and key input suppliers, which represent the largest share of IMC's Scope 3 emissions.

  Actions are implemented at field, regional and business-unit level and are monitored through environmental, agronomic and GHG-related KPIs.

  Long-term targets

  Scope 1-2	IMC aims to achieve a total reduction of 10,000 tonnes of GHG emissions by 2030 compared to the 2020 baseline, including emission reductions, sequestration and removals. The target covers both FLAG and non-FLAG emissions from IMC's own operations.
  Scope 3	As part of its supplier engagement approach, IMC aims to ensure that 67% of key suppliers, representing approximately 80% of IMC's Scope 3 GHG emissions, are covered by a supplier engagement programme.

  Interim and operational targets

  To support the long-term objective, IMC has defined the following interim and operational targets:

• 2025 absolute GHG emissions reduction target:

  2% reduction in total GHG emissions compared to the previous year.

• Agro-related decarbonisation targets (area-based KPIs) for 2025:

  • Deep loosening: 17,500 ha

  • Cover crops: 500 ha

  • Strip-till: 100 ha

  • Nitrification inhibitors: 100 ha

  • Green ammonia: 100 ha (pilot)

These targets are designed to support FLAG emissions reduction and soil carbon enhancement while maintaining agronomic feasibility.

• Quantified GHG reduction in 2025 relates only to reduced tillage (deep loosening), as this practice has an approved and verified emission factor.

• Other agro-related measures are tracked on an area basis; their GHG impact has not yet been quantified using approved methodologies.

• Deviations from planned areas reflect agronomic conditions, availability of inputs and pilot-stage implementation for selected practices (e.g. green ammonia).

  Supply chain (Scope 3) actions

  IMC has identified fertilisers as the dominant source of Scope 3 emissions, accounting for a significant share of total Scope 3 emissions. Accordingly, IMC's Scope 3 climate actions focus on both demand-side optimisation and supplier engagement.

  Key actions include:

• Reduction of mineral fertiliser use, particularly NPK and urea, through optimisation of application rates based on soil nutrient content and crop needs;

• Precision farming (VRA) to reduce over-application of fertilisers;

• Cover crops and organic inputs to lower dependency on synthetic nitrogen fertilisers;

• Integration of ESG criteria into fertiliser supplier selection, prioritising suppliers offering lower-carbon fertiliser products.

  As part of its supplier engagement approach, IMC aims to ensure that 67% of key suppliers, representing approximately 80% of IMC's Scope 3 GHG emissions, are covered by a supplier engagement programme. The programme focuses on data transparency, fertiliser-related emissions reduction levers, and gradual improvement of suppliers' environmental performance.

  Over the 2024-2030 period, IMC plans to:

• Further scale reduced tillage, cover crops, strip-till and nutrient efficiency measures;

• Pilot and gradually introduce green ammonia when technically and economically feasible;

• Expand and formalise supplier engagement for Scope 3 emissions, with priority given to fertiliser suppliers contributing most to IMC's upstream emissions;

• Improve quantification of Scope 3 emission reductions linked to fertiliser optimisation and supplier selection.