✓ ✓ Wheat Barley Corn Sunflower Soybean Rapeseed July 2023 October 2024 January 2024 April 2024 300 250 200 ✓ 150 ✓ 100 50 0 France Elevators Ports France Elevators Ports USA Elevators Ports Wheat Barley Corn ✓ July 2023 October 2023 January 2024 April 2024 ✓ 600 500 400 300 200 100 0 France Elevators Ports Brazil Elevators Ports France Elevators Ports Sunflower Soyabean Rapeseed July 2023 October 2023 January 2024 April 2024 ✓ ✓ Odessa Constanta Gdansk/Gdynya July 2023 October 2023 January 2024 April 2024 Wheat Corn Soybean Rapeseed January January January January 2024 April 2024 2024 April 2024 2024 April 2024 2024 April 2024 Odessa Constanta Gdansk/Gdynya ✓ ✓ Ammonium nitrate Urea Wheat NPK 16:16:16 Ammonium nitrate Barley NPK 16:16:16 2021 Urea Corn 2022 NPK 16:16:16 2023 Urea 2024 Sunflower NPK 10:26:26 Ammonium nitrate Ammonium sulfate Rapeseed NPK 16:16:16 NPK 16:16:16 Soybean ✓ ✓ ✓ ✓ ✓ Wheat Barley Corn Sunflower Soybean Rapeseed 2021 2022 2023 Costs, $/ha 2021 2022 2023 January 2024 April 2024 2024 (F) Seed 37 46 37 37 34 36 Fertilizers 218 269 145 145 126 122 CPP 66 74 59 59 50 51 Fuel and lubricants 43 73 50 50 46 48 Wages (production staff) 24 20 24 24 23 24 Taxes on wages 13 10 12 12 12 12 Repair of fixed assets 47 55 50 50 50 50 Depreciation of fixed assets 72 72 72 72 72 72 Administrative expenses 72 65 70 70 67 70 Land rent 148 111 119 119 117 122 Unified tax of group 4 (agriculture) 10 6 6 6 6 6 Contractor services 28 34 29 29 27 27 Total costs, $/ha 777 835 672 672 629 639 Yield (gross), t/ha 5,4 5,3 5,4 5,4 5,2 5,0 Elevator services, $/t 10 10 16 16 14 15 Yield (net), t/ha 5,2 5,1 5,1 5,1 4,9 4,7 Total costs, $/t 159 174 147 147 143 150 Price at an elevator (center of Ukraine), $/t without VAT 240 137 129 138 137 151 Profit/loss, $/t 81 -37 -18 -9 -6 2 Option 1. To the ports of Odessa Logistics to the port, $/t 26 48 32 28 23 28 Price at the port (CPT), $/t 270 197 167 172 163 182 Profit/loss, $/t 85 -25 -12 -4 -2 4 Option 2. To the port of Constanta Logistics to the port, $/t 141 84 80 57 77 Price at the port (CPT), $/t 289 218 205 190 205 Profit/loss, $/t -26 -14 -23 -10 -22 Option 3. To the ports of Gdansk/Gdynia Logistics to the port, $/t 140 81 81 79 Price at the port (CPT), $/t 287 215 201 201 Profit/loss, $/t -27 -14 -27 -27 Costs, $/ha 2021 2022 2023 January 2024 April 2024 2024 (f) Seed 27 34 32 32 30 31 Fertilizers 192 211 116 116 92 90 CPP 50 56 44 44 43 43 Fuel and lubricants 41 70 48 48 44 46 Wages (production staff) 23 19 23 23 22 23 Taxes on wages 12 10 12 12 11 12 Repair of fixed assets 47 55 50 50 50 50 Depreciation of fixed assets 72 72 72 72 72 72 Administrative expenses 72 65 70 70 67 70 Land rent 148 111 119 119 117 122 Unified tax of group 4 (agriculture) 10 6 6 6 6 6 Contractor services 27 32 27 27 25 26 Total costs, $/ha 720 740 618 618 578 589 Yield (gross), t/ha 4,7 4,6 4,5 4,5 4,5 4,3 Elevator services, $/t 10 10 12,4 12 11 12 Yield (net), t/ha 4,5 4,4 4,3 4,3 4,3 4,1 Total costs, $/t 169 178 157 157 146 157 Price at an elevator (center of Ukraine), $/t without VAT 214 120 100 105 115 126 Profit/loss, $/t 45 -58 -57 -52 -31 -30 Option 1. To the ports of Odessa Logistics to the port, $/t 26 48 32 28 23 28 Price at the port (CPT), $/t 248 182 136 136 142 156 Profit/loss, $/t 53 -44 -53 -49 -27 -29 Option 2. To the port of Constanta Logistics to the port, $/t 141 84 80 57 77 Price at the port (CPT), $/t 274 187 176 172 176 Profit/loss, $/t -45 -54 -61 -31 -58 Option 3. To the ports of Gdansk/Gdynia Logistics to the port, $/t 140 81 81 79 Price at the port (CPT), $/t 272 185 174 174 Profit/loss, $/t -46 -53 -64 -61 Costs, $/ha 2021 2022 2023 January 2024 April 2024 2024 (f) Seed 123 143 124 124 124 124 Fertilizers 250 327 173 173 131 130 CPP 84 98 81 81 81 81 Fuel and lubricants 60 102 70 70 65 68 Wages (production staff) 22 18 21 21 20 21 Taxes on wages 11 9 11 11 10 11 Repair of fixed assets 47 55 50 50 50 50 Depreciation of fixed assets 72 72 72 72 72 72 Administrative expenses 72 65 70 70 67 70 Land rent 148 111 119 119 117 122 Unified tax of group 4 (agriculture) 10 6 6 6 6 6 Contractor services 75 87 76 76 70 73 Total costs, $/ha 972 1094 873 873 813 827 Yield (gross), t/ha 9,8 9,7 9,5 9,5 9,5 9,0 Elevator services, $/t 43 51 41 41 37 39 Yield (net), t/ha 8,6 8,5 8,3 8,3 8,3 7,9 Total costs, $/t 157 180 146 146 136 144 Price at an elevator (center of Ukraine), $/t without VAT 224 132 123 113 120 137 Profit/loss, $/t 67 -48 -24 -33 -16 -8 Option 1. To the ports of Odessa Logistics to the port, $/t 26 48 32 28 23 28 Price at the port (CPT), $/t 256 187 164 148 152 167 Profit/loss, $/t 73 -41 -14 -27 -6 -6 Option 2. To the port of Constanta Logistics to the port, $/t 141 84 80 57 77 Price at the port (CPT), $/t 278 221 195 185 195 Profit/loss, $/t -43 -9 -32 -8 -26 Option 3. To the ports of Gdansk/Gdynia Logistics to the port, $/t 140 81 81 79 Price at the port (CPT), $/t 276 216 193 193 Profit/loss, $/t -44 -11 -34 -30 Costs, $/ha 2021 2022 2023 January 2024 April 2024 2024 (п) Seed 75 85 75 75 75 75 Fertilizers 188 246 87 87 65 66 CPP 103 107 91 91 91 91 Fuel and lubricants 44 76 52 52 48 50 Wages (production staff) 26 21 26 26 24 25 Taxes on wages 13 11 13 13 12 13 Repair of fixed assets 47 55 50 50 50 50 Depreciation of fixed assets 72 72 72 72 72 72 Administrative expenses 72 65 70 70 67 70 Land rent 148 111 119 119 117 122 Unified tax of group 4 (agriculture) 10 6 6 6 6 6 Contractor services 20 23 20 20 18 19 Total costs, $/ha 818 879 679 679 646 659 Yield (gross), t/ha 2,9 2,8 2,6 2,6 2,6 2,5 Elevator services, $/t 26 28 25 25 22 23 Yield (net), t/ha 2,6 2,6 2,4 2,4 2,4 2,3 Total costs, $/t 335 373 307 307 295 316 Price at an elevator (center of Ukraine), $/t without VAT 657 348 303 327 330 361 Profit/loss, $/t 322 -25 -4 20 36 45 Option 1. To the ports of Odessa Logistics to the port, $/t 36 69 36 31 25 31 Price at the port (CPT), $/t 680 425 336 335 327 380 Profit/loss, $/t 309 -17 -6 -2 7 33 Option 2. To the port of Constanta Logistics to the port, $/t 191 97 91 88 Price at the port (CPT), $/t 540 412 378 405 Profit/loss, $/t -24 8 -20 1 Option 3. To the ports of Gdansk/Gdynia Logistics to the port, $/t 196 98 94 88 Price at the port (CPT), $/t 535 410 376 403 Profit/loss, $/t -34 5 -24 -1 Costs, $/ha 2021 2022 2023 January 2024 April 2024 2024 (f) Seed 69 58 49 49 45 47 Fertilizers 128 144 82 82 63 63 CPP 86 102 86 86 86 86 Fuel and lubricants 60 102 70 70 65 68 Wages (production staff) 30 24 29 29 28 29 Taxes on wages 15 13 15 15 14 15 Repair of fixed assets 47 55 50 50 50 50 Depreciation of fixed assets 72 72 72 72 72 72 Administrative expenses 72 65 70 70 67 70 Land rent 148 111 119 119 117 122 Unified tax of group 4 (agriculture) 10 6 6 6 6 6 Contractor services 24 27 24 24 22 23 Total costs, $/ha 760 778 671 671 633 649 Yield (gross), t/ha 2,6 2,5 2,4 2,4 2,4 2,3 Elevator services, $/t 17 19 17 17 15 16 Yield (net), t/ha 2,4 2,4 2,3 2,3 2,3 2,1 Total costs, $/t 328 350 313 313 296 319 Price at an elevator (center of Ukraine), $/t without VAT 602 336 381 385 378 401 Profit/loss, $/t 274 -14 69 73 82 83 Option 1. To the ports of Odessa Logistics to the port, $/t 26 48 32 28 23 28 Price at the port (CPT), $/t 635 420 415 420 398 433 Profit/loss, $/t 281 22 71 79 80 86 Option 2. To the port of Constanta Logistics to the port, $/t 138 84 80 77 Price at the port (CPT), $/t 520 482 445 445 Profit/loss, $/t 32 85 52 49 Option 3. To the ports of Gdansk/Gdynia Logistics to the port, $/t 140 81 81 79 Price at the port (CPT), $/t 530 478 443 443 Profit/loss, $/t 40 84 49 45 Costs, $/ha 2021 2022 2023 January 2024 April 2024 2024 (f) Seed 51 57 51 51 48 50 Fertilizers 262 325 172 172 166 160 CPP 106 124 104 104 87 90 Fuel and lubricants 54 92 64 64 59 62 Wages (production staff) 32 26 31 31 30 31 Taxes on wages 16 13 16 16 15 16 Repair of fixed assets 47 55 50 50 50 50 Depreciation of fixed assets 72 72 72 72 72 72 Administrative expenses 72 65 70 70 67 70 Land rent 148 111 119 119 117 122 Unified tax of group 4 (agriculture) 10 6 6 6 6 6 Contractor services 25 29 27 27 24 25 Total costs, $/ha 895 976 782 782 740 754 Yield (gross), t/ha 2,9 2,9 3,2 3,2 3,0 2,9 Elevator services, $/t 19 21 25 25 23 24 Yield (net), t/ha 2,7 2,7 2,9 2,9 2,8 2,7 Total costs, $/t 350 382 297 297 287 302 Price at an elevator (center of Ukraine), $/t without VAT 675 360 302 306 301 336 Profit/loss, $/t 325 -22 5 10 13 34 Option 1. To the ports of Odessa Logistics to the port, $/t 26 48 32 28 23 28 Price at the port (CPT), $/t 705 440 341 345 346 369 Profit/loss, $/t 329 10 13 20 36 39 Option 2. To the port of Constanta Logistics to the port, $/t 138 84 80 77 Price at the port (CPT), $/t 532 422 389 400 Profit/loss, $/t 12 41 12 21 Option 3. To the ports of Gdansk/Gdynia Logistics to the port, $/t 140 81 81 79 Price at the port (CPT), $/t 530 418 387 387 Profit/loss, $/t 40 40 9 6 ✓ ✓ ✓ Milk Cattle Pigs Broilers 2023 January 2024 April 2024 2024 (f) 2023 January 2024 April 2024 2024 (f) Costs, Costs, Costs, Costs, Costs, $/kg sold Costs, $/kg sold Costs, $/kg sold Costs, $/kg sold Cost items $/kg of cattle $/kg of cattle $/kg of cattle $/kg of cattle sold milk live sold milk live sold milk live sold milk live weight weight weight weight Feed 0,19 1,40 0,18 1,36 0,19 1,44 0,18 1,38 Staff wages (net) 0,02 0,17 0,02 0,18 0,02 0,17 0,02 0,17 Taxes on wages (PIT, MC, USC) 0,01 0,09 0,01 0,09 0,01 0,09 0,01 0,09 Veterinary drugs 0,01 0,06 0,01 0,07 0,01 0,07 0,01 0,07 Insemination 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 Fuel 0,01 0,09 0,01 0,09 0,01 0,09 0,01 0,09 Electricity 0,02 0,13 0,02 0,11 0,02 0,14 0,02 0,10 Depreciation of buildings and equipment 0,01 0,09 0,01 0,09 0,01 0,08 0,01 0,08 Repair of buildings and equipment 0,00 0,02 0,00 0,02 0,00 0,02 0,00 0,02 Other general production costs 0,00 0,02 0,00 0,02 0,00 0,02 0,00 0,02 Administrative expenses 0,00 0,03 0,00 0,03 0,00 0,03 0,00 0,03 Total expenses 0,28 2,09 0,27 2,04 0,28 2,15 0,27 2,03 Price of base milk, ($)/kg without VAT 0,34 0,35 0,32 0,34 Price of sold milk, ($)/kg without VAT 0,38 0,39 0,36 0,38 Average price of sold cattle for slaughter, ($)/kg without VAT 1,69 1,45 1,51 1,45 Profit/loss, ($/kg) 0,10 -0,41 0,12 -0,59 0,08 -0,64 0,11 -0,59 2023 January 2024 April 2024 2024 (F) Cost items Costs, $/kg of Costs, $/kg of Costs, $/kg of Costs, $/kg of pigs for sale pigs for sale pigs for sale pigs for sale Feed 0,80 0,78 0,77 0,80 Veterinary drugs 0,06 0,05 0,05 0,05 Electricity 0,03 0,04 0,04 0,04 Staff wages (net) 0,08 0,08 0,08 0,07 Taxes on wages (PIT, MC, USC) 0,04 0,04 0,04 0,04 Depreciation of buildings and equipment 0,03 0,03 0,03 0,03 Repair of buildings and equipment 0,01 0,01 0,01 0,01 Other general production costs 0,01 0,01 0,01 0,01 Administrative expenses 0,01 0,01 0,01 0,01 Total expenses, $ 1,07 1,06 1,03 1,05 Price of live weight of pigs for sale, ($/kg) without VAT 1,70 1,46 1,35 1,41 Profit/loss, ($/kg) 0,62 0,40 0,32 0,35 2023 January 2024 April 2024 2024 (f) Costs, $/kg of Costs, $/kg Cost items Costs, $/kg of Costs, $/kg of broilers for of broilers broilers for sale broilers for sale sale for sale Cost of day-old chickens (Cobb 500) 0,16 0,15 0,15 0,14 Feed 0,41 0,39 0,39 0,39 Veterinary expenses 0,04 0,04 0,04 0,04 Electricity 0,01 0,01 0,01 0,01 Heating costs 0,02 0,02 0,02 0,02 Staff wages (net) 0,04 0,04 0,04 0,04 Taxes on wages (PIT, MC, USC) 0,02 0,02 0,02 0,02 Depreciation of buildings and equipment 0,02 0,02 0,02 0,02 Repair of buildings and equipment 0,01 0,01 0,01 0,01 Other general production costs 0,01 0,01 0,01 0,01 Administrative expenses 0,01 0,01 0,01 0,01 Total expenses, UAH 0,75 0,72 0,71 0,71 Price of live weight of broilers for sale, UAH/kg 1,08 1,10 1,11 1,07 ($/kg) without VAT Profit/loss, UAH/kg ($/kg) 0,33 0,37 0,41 0,36