IMC S.A. (19/2022) OPERATIONS UPDATE

Podstawa prawna: art. 56. 1. 2 of Act on Public Offering.

At the end of October - beginning of November, IMC S.A. (the Company) agricultural enterprises in Ukraine completed the sowing of winter wheat and the sunflower harvesting.

The winter wheat was sown on an area of almost 33,000 hectares, which is 80% more than the traditional area under winter crops at the Company in previous years.

The war forced IMC to review the crop mix in 2022. The area under corn was reduced in favor of winter wheat, since corn requires more gas and electricity to dry the grain. Also, in the fall of 2022, winter wheat was sown on the areas where the spring sowing campaign was not carried out, due to the need for demining and examination of these areas for the presence of remnants of shells.

The Company has positive outlook on increase of the area under winter wheat. First, it is the contribution of IMC to the food security of Ukraine. Secondly, in Ukraine in 2022, the area under winter wheat has been significantly decreased, which will potentially negatively affect the supply of wheat on the world market and lead to a growth of wheat prices.

Sunflower was harvested from an area of 19.2 thousand hectares, the yield is about 3.4 tonnes per hectare (-3% compared to 2021). Taking into account the difficult military conditions in which this season is taking place, the obtained sunflower yield is a good result - on a par with previous record years.

In September 2022, IMC exported 40.3 thousand tonnes of wheat and corn. In October 2022, wheat and corn export of the Company amounted to 56.7 thousand tonnes.

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