Ekosem-Agrar AG: Deferral of interest payment due on 7 December 2024 and progress in bond restructuring

Ekosem-Agrar AG: Deferral of interest payment due on 7 December 2024 and progress in bond restructuring

• Deferral of interest payment due on 7 December 2024 to the noteholders of the Ekosem-Agrar bond 2012/2027
• Advanced and constructive talks on the sale of company holdings to Russia

Walldorf, 7 November 2024 – Ekosem-Agrar AG, the German holding company of Russian milk producer EkoNiva Group, has decided, after consultation with e.Anleihe GmbH, the joint representative of the two bonds issued by the company, and the members of the company's noteholders' advisory committee, to defer the payment of the interest claims of the noteholders of the Ekosem-Agrar bond 2012/2027 (ISIN: DE000A1R0RZ5) due on 7 December 2024. Accordingly, the noteholders' interest claims of 2.5% p.a. for the interest period 2023/2024 will be deferred by one year and for the interest periods 2022/2023 and 2021/2022 by a further year in each case.

The interest deferral is in line with the bond restructuring agreed at the noteholders' meeting on 3 June 2024. Accordingly, no interest payments are planned to the noteholders beyond the purchase price.

Progress in implementing the restructuring

Ekosem-Agrar AG also reports on the current status of the restructuring: With regard to the sale of the company's holdings to Russia, the company is in advanced and constructive talks with the financing banks, whose consent is required as a key condition for the restructuring. Management currently expects to be able to conclude and complete the transaction until the end of 2024.

At the same time, preparations are underway for the implementation of the bond restructuring agreed by the noteholders in June, specifically for the sale of the 2012/2027 bond (ISIN: DE000A1R 0RZ5) and 2019/2029 bond (ISIN: DE000A2YNR08) to an SPV at a purchase price of EUR 300.00 per bond. A significant uncertainty regarding a specific date for this implementation still exists in respect to the transfer of cash from the sale to Germany. However, the company has also made progress here in recent days. As soon as further clarity regarding the sale of the holdings and the implementation of the restructuring is provided, the company will report this.

About Ekosem-Agrar

Ekosem-Agrar AG, Walldorf, is the German holding company of the Ekoniva Group, one of Russia's largest agricultural companies. With a herd of more than 245,000 cattle (including over 115,000 dairy cows) and a milk output of 3,700 tons of raw milk per day, the company is the country's largest milk producer. The group controls an agricultural area of around 630,000 hectares and is also one of Russia's leading seed producers. The founder and CEO of the company is Stefan Dürr, who has been active in Russian agriculture since the late 1980s and has played a decisive role in its modernization over the last three decades. He was awarded the Order of Merit of the Federal Republic of Germany in 2009 for his services to the German-Russian agricultural dialog. The Group has around 14,500 employees in nine administrative regions in Russia. Ekosem-Agrar generated total output of EUR 1,152.0 million and EBITDA of EUR 396 million in the financial year 2022.

Ekosem-Agrar Contact

Irina Makey // Ekosem-Agrar AG // Johann-Jakob-Astor-Str. 49 // 69190 Walldorf // T: +49 (0) 6227 3585 919 // E: irina.makey@ekosem-agrar.de

Press / Investor Relations

Fabian Kirchmann, Jonas Schneider // IR.on AG // T: +49 (0) 221 9140 970 // E: presse@ekosem-agrar.de