AGRANA Beteiligungs : Annual Financial Report 2023|24

ANNUAL FINANCIAL REPORT 2023|24

Contents

35 Consolidated financial statements

and Group management report 2023|24

AGRANA Group under IFRS

1. Group management report 2023|24
2. Organisational structure

38	Non-financial information statement
66	Financial results
74	Fruit segment
81	Starch segment
87	Sugar segment
94	Research and development
97	AGRANA's people
104	Risk management

1. Capital, shares, voting rights and rights of control
2. Outlook

1. Consolidated financial statements 2023|24
2. Consolidated income statement
3. Consolidated statement of comprehensive income
4. Consolidated cash flow statement
5. Consolidated balance sheet
6. Consolidated statement of changes in equity

128	Notes to the consolidated financial statements

1. List of members of AGRANA's boards
2. Statement by the members of the Management Board
3. Independent auditor's report

206 Parent company: financial statements and management report 2023|24

AGRANA Beteiligungs-AG under Austrian Commercial Code (UGB)

1. Parent company financial statements 2023|24
2. Parent company income statement
3. Parent company balance sheet
4. Notes to the parent company financial statements (in German only)

229 Parent company management report 2023|24 (in German only)

1. Statement by the members of the Management Board
2. Independent auditor's report

261	Proposal for the appropriation of profit

ANNUAL FINANCIAL REPORT

OF AGRANA BETEILIGUNGS-AG

FOR THE YEAR ENDED 29 FEBRUARY 2024

Group management report 2023|24

36 Organisational structure

1. Business segments and procurement models
2. Corporate governance
3. Non-financial

information statements

38 The sustainable AGRANA value chain

1. AGRANA's understanding of sustainability
2. Material non-financial matters/ sustainability topics

1. Integration of sustainability responsibilities in AGRANA's organisational structure, and boundaries of this report
2. Management approaches for material non-financial matters

66 Financial results

1. Changes in the scope of consolidation

1. Revenue and earnings

1. Investment
2. Cash flow

1. Financial position

1. Segment financial results

1. Events after the balance sheet date

74 Fruit segment

1. Revenue and earnings
2. Market environment
3. Raw materials and production

1. Investment

81 Starch segment

1. Revenue and earnings
2. Market environment
3. Raw materials and production

1. Investment

87 Sugar segment

1. Revenue and earnings
   88 Market environment
   89 Raw materials and production

1. Investment

1. Research and development

1. Fruit segment
2. Starch segment
3. Sugar segment
4. AGRANA's people

97 Human resources management

99 Staff development and training

1. Workplace health and safety

1. Balancing work and family

1. Risk management

1. Risk policy
2. Significant risks and uncertainties

1. Operational risks

1. Regulatory risks

1. Legal risks

1. Financial risks

1. Climate change and other ESG risks
2. Aggregate risk
3. System of internal control and of risk management

1. Capital, shares, voting rights and rights of control
2. Outlook
3. Sustainability outlook for 2024|25

35

Organisational structure

AGRANA is a globally operating processor of agricultural raw materials, with its Fruit, Starch and Sugar segments manufacturing high-quality foods and many intermediate products for the downstream food industry as well

as for non-food applications. With about 8,900 employees (in FTE)1 at 55 production sites on six continents, the Group generated revenue of about € 3.8 billion in the 2023|24 financial year. AGRANA was established in 1988 and has been quoted on the Vienna Stock Exchange since 1991.

AGRANA Beteiligungs-AG

55 production sites

8,876 employees1

€ 3,786.9 million in revenue

Fruit segment

AGRANA Internationale Verwaltungs- und Asset-Management GmbH

40 production sites

5,720 employees1

€ 1,566.9 million in revenue

Starch segment

AGRANA Stärke GmbH

5 production sites

1,170 employees1

€ 1,148.7 million in revenue

Sugar segment

AGRANA Sales & Marketing GmbH

10 production sites

1,986 employees1

€ 1,071.3 million in revenue

Business segments and procurement models

The Fruit segment custom-designs and produces fruit preparations (fruit ingredients) and fruit juice concentrates. AGRANA is the world's leading manufacturer of fruit preparations for the dairy, bakery, ice cream and food service industries. The fruit used in the fruit preparations is sourced largely from primary processors, in frozen or aseptic form. In some countries, AGRANA also operates its own primary processing plants where fresh fruit (in some cases from contract growers) is received and readied for processing into fruit preparations. In the fruit juice concentrate business, at production sites located mainly in Europe, AGRANA produces apple and berry juice concentrates, not-from- concentrate juices, fruit wines, beverage bases and aromas. AGRANA seeks to achieve the most sustainable and complete utilisation of raw materials possible. While fruit preparations production generates very little residue, the press cake from apple juice production, known as apple pomace, is utilised by the pectin industry and as a feedstuff.

36 1 Average number of full-time equivalents in the financial year.

Organisational structure

In the Starch segment, AGRANA processes and refines raw materials grown by contract farmers or purchased in the open market - mainly corn (maize), wheat and potatoes - into premium starch products. These products are sold into the food and beverage industry as well as the paper, textile, cosmetics and building materials sectors and other non-food industries. The starch operations additionally produce fertilisers and high-quality animal feeds. The production of climate-friendly bio- ethanol for blending with petrol is also part of the Starch segment's activities.

AGRANA's Sugar segment processes sugar beet from contract growers and also refines raw cane sugar purchased worldwide. The products are sold to customers in downstream industries for use in, for example, sweets, non-alcoholic beverages and pharmaceutical applica- tions. Under country-specific sugar consumer brands, AGRANA also markets a wide range of granulated sugars and of sugar specialty products to consumers through food retailers. Additionally, in the interest of the

most complete possible utilisation of its agricultural raw materials, AGRANA produces a large number of fertilisers and animal feedstuffs. These not only help the economic bottom line but also ecologically close the material cycle by returning minerals and other nutrients to the land and the food chain.

Corporate governance

Information on corporate governance is provided in AGRANA's corporate governance report

within this annual report, and on the Group's website at www.agrana.com/en/ir/corporate-governance.

37

Non-financial information statement 1

The sustainable AGRANA value chain in 2023|24

Procurement of agricultural raw materials

SEGMENT
FRUIT	Primary
	processing
		Fruit
		growers

Fruit growers

Primary

processing

1 85% of raw material volume	2 42% of raw material volume
assessed using social criteria	assessed using social
(SEDEX)	and environmental criteria
	(SAI FSA)

AGRANA processing: Adding value

1

	Fruit
Primary	preparations
plants
processing
2	Fruit juice
	concentrate
	plants
Fruit preparations:		Fruit juice concentrates:
• Total energy consumption2: 2.10 GJ/t	• Total energy consumption2: 3.07 GJ/t
• Total emissions2: 127 kg of CO2/t	• Total emissions2: 176 kg of CO2/t
• Water withdrawal2: 4.81 m³/t		• Water withdrawal2: 3.77 m³/t
• Water consumption2: 0.79 m³/t	• Water consumption2: -0.35 m³/t
• Social criteria assessed		• Social criteria assessed
(SEDEX) and externally audited	(SEDEX) and externally audited
at 58% of sites3		at 54% of sites3

STARCH SEGMENT

Grain

growers

Potato growers

Grain

growers

Grain trading

3

				Bee	conservation	project
				at	all Austrian	sites
			4
				Starch factories

3 100% of Austrian potato	4 79% of raw material volume
growers assessed using social	assessed using social
and environmental criteria	and environmental criteria
(SAI FSA)	(SAI FSA or FSA benchmarking
	system)

•	Total energy consumption2:	•	Energy management system
	4.13 GJ/t		at 75% of sites3 is certified
•	Total emissions2:		to ISO 50001
	163 kg of CO2/t	•	Social criteria assessed
•	Water withdrawal2: 4.40 m³/t
	(SEDEX) and externally audited
•	Water consumption2: 0.57 m³/t
	at 75% of sites3

SUGAR SEGMENT

Sugar cane

growers

Raw sugar production

Sugar beet 5 growers

Raw sugar

trading

Sugar

factories, sugar refineries

5 100% of sugar beet volume	• Total energy consumption2: 2.59 GJ/t
assessed using social	• Total emissions2: 151 kg of CO2/t
and environmental criteria	•	Water withdrawal2: 2.12 m³/t
(SAI FSA)	•	Water consumption2: -0.88 m³/t

	1 This non-financial information statement under section 267a Austrian Commercial Code
	has been prepared in accordance with the Global Reporting Initiative (GRI) Standards.
38	2 Per tonne of product output.

• Energy management system at 100% of sites3 is certified to ISO 50001
• Social criteria assessed (SEDEX) and externally audited at 78% of sites3

Customers and consumers
Downstream	Resellers and
processing industries:	consumers
food and non-food

Clean label products

Certified organic and GMO-free "Wiener Zucker" sugar

Potato fibre	as
low-calorie	dietary
fibre ingredient
for foods

Bioplastics from thermoplastic starch replace regular plastic

Agriculture

(fertiliser and animal feedstuffs)

Per 1 tonne of core product, AGRANA produces about 1 tonne of premium GMO-free feeds and fertilisers

Non-financial information statement

Sustainability targets of the AGRANA Group

By 2050 at the latest: Net-zero emissions

(Scope 1, 2 and 3) across the entire value chain of the AGRANA Group

• SBTi targets by 2030|31 (verified): Reduction of emissions from the Group's own production operations (Scope 1 and 2) by 50% and from
  the upstream and downstream value chain (Scope 3) by 30%, compared to the base year 2019|20

Eco-efficiency of AGRANA's production activities

• 2040: Net-zero emissions from the AGRANA Group's production operations (Scope 1 and 2)

Additional targets for the Fruit segment

Fruit segment

Fruit preparations business

Targets by 2024|25:

• No landfilling of waste
• 50% renewable share of electricity

Targets by 2025|26:

• 26% of processed fruit to achieve FSA Silver equivalent
• Water withdrawal2 of 4.24 cubic metres/t4
• 100% of production sites to have a recognised social audit

Fruit juice concentrate business

Target by 2025|26:

• At least 50% sustainable sourcing as defined by the Sustainable Juice Covenant (see page 77)

Target by 2030|31:

• 100% sustainable sourcing as defined by the Sustainable Juice Covenant (see page 77)

Workplace safety targets of the AGRANA segments:

• Targets by 2026|27: see "AGRANA's People", from page 100

Learn more about the

AGRANA value chain at

wsk-mini.agrana.com/index-en.html

The thickness of lines marking the business relationships represents the relative volume of flows within the respective business segment.

• Contract farming
• Direct business relationship
• No direct business relationship for AGRANA

1. Within the GRI reporting boundaries.
2. The target applies to the fruit preparations plants within the 2018|19 GRI reporting boundaries

(excluding primary processing plants).

39

Group management report

AGRANA reports non-financial sustainability matters (i.e., topics) that are material to its business activities by integrating them in the Group management report, with the relevant pages visually marked by a green footprint (for a description of the business model, see the section "Organisational structure" from page 36). This non-financial information statement provides an overview of AGRANA's understanding of sustainability, presents sustainability- related governance structures, and describes the AGRANA materiality matrix, the management approaches for

the key non-financial matters/topics, the organisational and content boundaries of the sustainability reporting, and relevant Group-level performance indicators. Details on relevant actions taken, performance indicators as well

as goals in the individual areas are presented in the business segment reports, the section "AGRANA's people" and the corporate governance report.

AGRANA's understanding of sustainability

To AGRANA as an industrial value-added processor of agricultural raw materials, sustainability means a harmonious balance between environmental, economic and social performance in its business activities. The following three guiding principles serve management and all employees as a practical and intuitive guide to daily sustainable action and sum up AGRANA's understanding of sustainability:

• Utilisation of almost 100% of the raw materials employed, and use of low-emission technologies to reduce or avoid impacts on the environment
• Respect for all stakeholders and the communities where the Group operates, directly or indirectly
• Collaboration with suppliers and customers in long-term partnerships to jointly foster business models resilient to climate change

AGRANA has developed its understanding of sustainability through regular interaction with its stakeholders:

Formats of AGRANA's engagement with stakeholders in 2023|24

Key stakeholder groups	Formats of dialogue
Raw material suppliers	Regular advisory meetings; field visits, field days and
	trial tours; contracting events in the Starch and Sugar
	segments, both physical and as webinars; special webinars
	for new beet growers, contracting meetings and technical
	exchanges; intensive communication through social
	media (notably Facebook).
Industrial customers	In 2023|24 AGRANA conducted a customer satisfaction
	survey and again presented its broad product portfolio at
	the most important international food and beverage fairs.
	Especially the focus on plant-based concepts such as
	yoghurt alternatives, vegan ice cream and meat substitutes
	attracted very satisfactory visitor numbers. The highlights
	of the trade fair circuit in 2023 were GULFOOD Manufactur-
	ing in Dubai, UAE; IFT in Chicago, Illinois, USA; and Food
	Ingredients Europe in Frankfurt, Germany. The largest trade
	fair for organic food in Europe - Biofach in Nuremberg -
	was held in February 2024. AGRANA and AUSTRIA JUICE
	successfully presented new products and innovations at all
	four trade fairs.
Local communities	Contacts by telephone and in writing as part of local
	community relations
Investors and the public	Ongoing investor relations and public relations work;
	digital and physical road shows for institutional investors;
	press conferences and physical annual general meeting.
Our employees	Information via intranet (AGRAnet) and social media; town
	hall meetings once per quarter; global employee survey

40