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Annual Report 2018

ROS AGRО PLC has announced completion of the harvesting campaign

13.12.19

Rusagro has completed the harvesting campaign in Belgorod, Tambov, Kursk, Orel, Voronezh and Saratov Regions and Primorsky Krai. Gross yields of grains and oil crops in 2019 increased by 20 thousand tonnes (+1%) in comparison to 2018 and reached 1,391 thousand tonnes . Yield per hectare decrease of 8% was partially compensated by the growth of cultivated land area by 44 thousand hectares (+11%).

Gross yields of grains declined to 1,010 thousand tonnes (-3%) as the result of all regions average yield per hectare drop of 4%. Only yield per hectare of the wheat rose by 1%.

Gross yields of oil crops rose to 381 thousand tonnes (+17%) due to an increase of cultivated land area to 212 thousand hectares (+26%), which was partially compensated by yield per hectare drop of 7%.

Change of cultivated land area was triggered by the exclusion of low-efficient lands and the review of crop rotation plan. Cultivating the land in Saratov Region this year (Rusagro does not plan to continue cultivating these lands) led to cultivated land area growth, but decreased average yield per hectare results for sunflower seeds and wheat. Yield per hectare of the crops was also influenced by weather conditions. Soybeans yield per hectare drop (-8%) was caused by Spring-Summer soil and air drought in Tambov Region during all critical phases of crop development, while yields per hectare of corn decreased (-17%) due to the typhoon in August in Primorsky Krai.

Detailed results of the harvest campaign of 2019 are shown below:

2019

Crop

Area,

ths ha

Yields,

t/ha

Gross yield,

ths t

Wheat

176

4.1

717

Barley

56

3.4

189

Corn

20

5.2

104

Soybean

175

1.7

292

Sunflower seeds

38

2.3

89

Other*

3

12.5

36

Total

468

3.1

1,427

*including: peas, mustard seeds, lupine, buckwheat, fodder crops

Comparison of the results of harvest campaign of 2019 and 2018 are shown below:

Changes in comparison to 2018

Crop

Area,

ths ha

Yields,

t/ha

Gross yield, ths t

Wheat

5%

1%

7%

Barley

-1%

-5%

-6%

Corn

-27%

-17%

-40%

Soybean

20%

-8%

10%

Sunflower seeds

62%

-10%

46%

Other*

-88%

312%

-49%

Total

5%

-6%

-1%

*including: peas, mustard seeds, lupine, buckwheat, fodder crops