- As of the end of August 2026, AgroGeneration completed the harvesting of early crops across approximately 11,500 hectares, with a preliminary total harvested net volume of approximately 46.8 thousand tons.
- The Group's 2026 performance will depend, among other factors, on the outcome of the late crop harvest and developments in agricultural commodity prices during the second half of the year. As of the date of this announcement, domestic prices remain under significant pressure due to constrained opportunities for the sale and export of agricultural products amid the ongoing hostilities in Ukraine.
- The sowing campaign for winter crops for the 2027 harvest has begun.
- War-related risks remain significant in the regions where the Group's main production assets are located and continue to have an impact on the Group's operations.
Paris, September 14, 2026
AgroGeneration, a Ukrainian producer of grain and oilseed crops, provides an update on the Company's current operating performance.
2026 Harvesting Campaign Progress
AgroGeneration completed the harvesting campaign for early crops at the end of August 2026. Winter wheat, winter barley, winter rapeseed, as well as peas, chickpeas and flax were harvested across a total area of approximately 11,500 hectares. As of the reporting date, the Group's companies harvested approximately 46,800 tons of crops.
As of the end of August, the Group's farms harvested approximately 8,700 hectares of winter wheat, achieving an average net yield of approximately 4.6 tons per hectare, more than 50% higher than the previous year's figure of approximately 3.0 tons per hectare in 2025. Based on preliminary estimates, the total net wheat harvest amounted to approximately 39,800 tons.
The significant increase in yield compared with the previous year was primarily attributable to generally favorable weather conditions throughout the growing season, particularly during the grain formation and filling stages. Adequate and evenly distributed moisture availability enabled a significant portion of the crops' yield potential to be effective.
At the same time, the quality of the winter wheat harvested in 2026 declined compared with the previous year: approximately 16% of the harvest was classified as food-grade, compared with approximately 40% in 2025. The main reason for the deterioration in quality was significant rainfall and increased moisture levels during the pre-harvest period. Prolonged excessive moisture shortly before harvesting negatively affected grain quality, in particular contributing to lower protein and, consequently, gluten content. As a result, a significant portion of the harvest was classified as feed-grade based on its quality characteristics.
In 2026, the Group also experimentally reintroduced winter barley and winter rapeseed into its winter crop portfolio for the first time in recent years. The total area planted with these crops amounted to 361 hectares, comprising 268 hectares of winter barley and 93 hectares of winter rapeseed. The preliminary actual net yield of winter barley was 4.3 tons per hectare, exceeding the budgeted target. The net yield of winter rapeseed was 2.3 tons per hectare. The total harvested net volume of winter barley amounted to approximately 1,150 tons, while winter rapeseed amounted to approximately 211 tons.
In addition, as of the date of this announcement, the Group's farms had harvested approximately 4,500 tons of peas, with an average yield of 2.7 tons per hectare, significantly exceeding the 2025 figure of 1.8 tons per hectare. The actual net yield of peas exceeded both budgeted and prior-year levels, supported by a favorable combination of early sowing dates and weather conditions throughout the growing season. Early sowing enabled more efficient use of available soil moisture, while sufficient and timely moisture during the critical stages of crop development created favorable conditions for achieving a high yield.
By the end of August 2026, the Group had also completed the harvesting of chickpeas and flax. Given the relatively successful results achieved from growing these crops following their introduction into the Group's crop rotation in 2025, the Group decided to increase their share in the crop rotation. In 2026, the area planted with flax increased to 497 hectares, compared with 95 hectares in 2025, while the area planted with chickpeas increased to 276 hectares, compared with 80 hectares a year earlier. Both crops demonstrated year-on-year improvements in yield. The average flax yield was 1.3 tons per hectare, compared with 1.1 tons per hectare in 2025, while the chickpea yield increased to 1.9 tons per hectare, compared with 1.5 tons per hectare a year earlier. The improvement in yields was primarily driven by favorable and sufficient moisture availability throughout the growing season. Total flax and chickpea production in 2026 exceeded 1,150 tons. For the 2027 production season, the Company plans to increase the area allocated to flax, reflecting the crop's consistent production performance and attractive economic efficiency, including favorable selling price levels. In addition to the above, flax, together with peas, will be used as an intermediate crop in the rotation between wheat and sunflower, helping to diversify the crop rotation, improve the efficiency of soil moisture utilization and create more favorable conditions for the subsequent crop
AgroGeneration. Preliminary harvesting results (as of August 28th, 2026):
| Crop | 2025 Actual | 2026 Estimate | ||||
| Harvested area, ha | Net weight, t | Net yield, t/ha | Harvested area, ha | Net weight, t | Net yield, t/ha | |
| W Wheat (1) | 8,723 | 26,528 | 3.0 | 8,696 | 39,803 | 4.6 |
| Peas (1) | 549 | 993 | 1.8 | 1,679 | 4,494 | 2.7 |
| Flax (1) | 95 | 104 | 1.1 | 497 | 622 | 1.3 |
| Chickpea | 80 | 118 | 1.5 | 276 | 534 | 1.9 |
| W Barley | - | - | - | 268 | 1,148 | 4.3 |
| W Rapeseed | - | - | - | 93 | 211 | 2.3 |
(1) In 2025, including the production results of the divested Podolivska farm, which had a negative impact on the overall average crop yields
In early September, the Group's companies commenced the harvesting of late crops, in particular soy and sunflower. The harvesting of corn has not yet commenced. The overall condition of the late crops and weather conditions during the growing season currently support expectations of yields broadly in line with budgeted targets. The Group plans to complete the harvesting of late-season crops and the 2026 production season by the end of October.
Crop Sales
As of the date of this press release, AgroGeneration has not yet begun the sale of its 2026 harvest. At the same time, the Group's companies have not yet completed the sale of the remaining inventories of the 2025 harvest: approximately 4,600 tons, primarily wheat, remain in storage. The remaining carry-over inventories, totaling approximately 24,500 tons, mainly sunflower, corn and soybeans, were sold between January and May 2026 under favorable market conditions.
As a result of the ongoing hostilities and significant constraints affecting Ukraine's port infrastructure observed since summer 2026, export opportunities remain substantially limited. This, in turn, has led to a significant decline in domestic purchase prices for grain, by approximately one-third. Against a backdrop of limited demand and substantial supply of the new harvest, selling large volumes of crops immediately after harvesting is currently economically unattractive.
Under these circumstances, the Company does not currently plan to sell significant volumes of the harvest during the period of depressed market conditions. Instead, sales are expected to be carried out gradually, taking into account market developments. Part of the harvest may be stored until the end of the calendar year in anticipation of potentially improved export opportunities and a recovery in prices in 2027.
Future sales volumes and timing will be determined depending on price dynamics, the availability of export channels and the Group's working capital requirements.
Status of the 2027 Winter Crop Sowing Campaign
As of the date of this press release, the Group has begun the sowing campaign for winter crops for the 2027 harvest. The sowing of winter rapeseed has been completed across an area of 1,067 hectares. The decision to increase the area allocated to this crop was driven not only by its positive production performance in the current season, but also by its economic attractiveness and important agronomic role within the crop rotation.
The sowing of winter wheat is planned to start immediately after the sunflower harvest. Accordingly, the timing of the sowing campaign will largely depend on the pace of the sunflower harvest and weather conditions during this period.
Overall, the area allocated to winter crops is expected to amount to approximately 8,400 hectares. The winter crop sowing campaign is expected to be completed within the normal agronomic timeframes for these crops.
Current Operating Challenges Related to the Ongoing War in Ukraine
The ongoing full-scale war in Ukraine continues to have a significant impact on the Group's operations, creating additional risks for agricultural production, logistics and the sale of agricultural products. Throughout 2026, against the backdrop of intensified hostilities and increased attacks on transport and port infrastructure, particularly in July and August, the conditions for exporting Ukrainian agricultural products have deteriorated significantly. Disruptions to the operation of seaports and constraints on the capacity of export routes have reduced the number of available sales channels and increased pressure on the domestic market.
For the Group, this means, among other things, the need to adapt the timing and volumes of product sales to the prevailing market and logistical conditions. Reduced export opportunities have contributed to an oversupply in the domestic market and, consequently, to a significant decline in purchase prices for major agricultural commodities. At the same time, rising fuel and logistics costs are leading to additional pressure on the cost of production and transportation.
The main risks currently affecting the operations of the Group's companies include:
- Limited opportunities for the sale of agricultural products. Disruptions to the operation of maritime grain corridors and port infrastructure limit access to traditional export channels, create additional pressure on domestic prices and may result in delays in product sales and cash receipts. This, in turn, increases the risks associated with the timely financing of ongoing production needs.
- Volatility in agricultural commodity prices. Limited export opportunities and significant product supply in the domestic market are causing substantial fluctuations in purchase prices. Future price developments will depend to a large extent on the recovery of export opportunities, conditions on international markets and the availability of logistical routes.
- Increasing and volatile fuel and logistics costs. War-related risks, supply disruptions and increased demand for fuel are resulting in significant fluctuations in fuel prices. Changes in fuel prices directly affect the cost of agricultural operations, transportation and the overall cost of agricultural production.
- Limited availability of labour. The availability of employees remains a risk factor for the timely performance of agricultural operations, particularly during peak periods of sowing and harvesting campaigns.
- Direct war-related risks. Hostilities and related threats may affect access to certain agricultural land plots, employee safety, the condition of production and transport infrastructure, logistics and the ability to carry out agricultural operations in a timely manner. The risk of damage to assets and production facilities also remains relevant.
The Group continues to adapt its production, logistics and commercial decisions to the prevailing conditions, with particular focus on cost control, working capital management and optimization of product sales timing, taking into account available sales channels and market conditions.
About AGROGENERATION
Founded in 2007, AgroGeneration is a large-scale producer of grain and oilseed crops. The Company's core business is the cultivation of commercial grain and oilseed crops, using approximately 21,000 hectares of high-quality agricultural land in eastern Ukraine.
All information about AgroGeneration is available on the Company's website : www.AgroGeneration.com
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| AgroGeneration +33 1 55 27 38 40 investisseurs@AgroGeneration.com www.AgroGeneration.com | Actus Finance Anne-Pauline Petureaux, Investor Relations +33 (0)1 53 67 36 72 |