Subject Company 2012

Kernel Holding S.A. is a leading diversified agri-business value chain management company operating in Ukraine. With an extensive asset base spanning the production, processing, storage, transshipment and export of agricultural commodities, the company is a major supplier to the international market of grain, sunflower oil and meal produced in Ukraine and Russia; the largest supplier of bottled oil to the Ukrainian market; a key provider of grain silo services to the farmer;and provider of services for the transshipment and export of grain, oil and meal from Black Sea ports.

Kernel is Ukraine's largest agri-business company, with extensive operations across the agribusiness value chain: We operate in farming, origination, handling and international marketing of grain, and in the production, refining, bottling and marketing of bulk and bottled vegetable oil both on the international market and domestically. We are the largest private provider of silo services in Ukraine and a major terminal owner and operator for the handling and export of grain, oil and sunflower meal through the Black Sea. Our business model is supported by leading positions in all our segments, and by the diversity of products we offer and markets we operate in. Our 16 000 employees are key to our success and contribute significantly to the increasing presence of Ukraine in the international trade of agricultural commodities.