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Appendix: Crop production schedule Crop schedule, based on 2012 harvesting year

Crop

Sowing time

Harvesting time

Common selling time

Winter wheat

August – October 2011

June – August 2012

July 2012 – June 2013

Winter barley

August – October 2011

June – August 2012

July 2012 – June 2013

Rapeseed

August – October 2011

June – August 2012

July 2012 – August 2012

Spring wheat

March – April 2012

July – August 2012

July 2012 – June 2013

Spring barley

March – April 2012

July – August 2012

July 2012 – June 2013

Corn

March – April 2012

September 2012 – December 2012*

September 2012 – July 2013

Sunflower

March – April 2012

September – November 2012

September 2012 – July 2013

Soybean

March – April 2012

September – November 2012

September 2012 – December 2012

Sugar beets

March – April 2012

September – November 2012

September 2012 – December 2012

Potatoes

March – May 2012

July – August 2012

July 2012 – December 2012

(low price),

January 2013 – June 2013

(high price, storage required)

* Could be harvested up to next sowing. Source: Concorde Capital

Appendix

Arable land, net of fallow

Corn

Source: State Statistics Committee of Ukraine

Wheat

Source: State Statistics Committee of Ukraine

Barley

Source: State Statistics Committee of Ukraine

Sunflower

Source: State Statistics Committee of Ukraine

Soybean

Source: State Statistics Committee of Ukraine

Rapeseed

Source: State Statistics Committee of Ukraine

Sugar beets

Source: State Statistics Committee of Ukraine

Analyst certification

I, Yegor Samusenko, hereby certify that the views expressed in this research report accurately reflect my personal views about the subject securities and issuers. I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed in this research report.

Company: Rating history

Date

12M target price, USD

Market price, USD

Rating

Action

Date

Xxxxxxxxxxx

xx.x

xx.x

xx.x

xx.x

xx.x

Xx xxxx xxx

xx.x

xx.x

xx.x

xx.x

xx.x

Xxxxxxxxxxxx

xx.x

xx.x

xx.x

xx.x

xx.x

Source: Concorde Capital

Company: Target price vs. share performance, USD per share

Covered by Vitaly Gorovoy since April 2011

Source: Bloomberg, Concorde Capital

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