AGRANA Beteiligungs : Austrian Small and Midcap Day (04 November 2025)

AGRANA Group

Austrian Small and Midcap Day

Vienna, 4 November 2025 AGRANA Interim Statement H1 2025|26: https://www.agrana.com/en/ir/publications

AGRANA GROUP

Contents

1

2

3

Introduction & business overview

Strategy

"NEXT LEVEL"

Focus on ESG

4

5

6

Financials H1 2025|26

Financial outlook 2025|26

Segment overview

AGR ANA | Austrian Small and M idcap Day | 4 November 2 0 2 5 2

1. Introduction & business overview

   About us

   • We refine agricultural raw materials into a variety of industrial

     products for the processing industry

   • We supply local producers and large international corporations, especially in the food processing industry

   • In the sugar segment, we are also represented on the end

     consumer market with the "Wiener Zucker" brand family

     
     
     9,000
     
     

     employees

     50 production sites € 3.5 bn

     revenue

     WORLD MARKET LEADER in the

     production of fruit preparations

     Major manufacturer

     of CUSTOMER-SPECIFIC starch products

     LEADING sugar producer in Central, Eastern & South-Eastern Europe

We all consume AGRANA (products)

At the beginning there is

always agriculture…

AGRANA refines agricultural raw

materials...

We all consume AGRANA every day...

AGRANA supplies the Big Names...

Segmentation by segment

24 fruit preparation plants and

13 fruit concentrate plants

5 starch plants

(incl. 2 bioethanol plants)

5 sugar beet plants

2 raw sugar refineries & 1 Instantina plant

Countries with production sites Countries with production sites Main markets

Starch plants



Bioethanol plants

Countries with plants Other markets

Beet sugar plants Raw sugar refinery Distribution centre

* Also with refining activities

Agricultural raw materials processed: 9.9 million tonnes

2%

7%

24%

66%

Beet

Raw sugar

Grain

Potato

Fruits

• 2024 apple harvest was significantly poorer than in

HIGHLIGHTS FBS:

the previous year

6.5 million tonnes

0.1 million tonnes

2.4 million tonnes

0.2 million tonnes

0.7 million tonnes

1%

ACS - Starch:

• Dramatic flood damage in Austria in autumn 2024

  ACS - Sugar:

• Expansion of sugar beet planting in the EU (negative impact on earnings)

REVENUE BY PRODUCT GROUP (2024|25)

FOCUS on Food

FBS ACS - STARCH ACS - SUGAR

€ 1,630.4 m € 1,014.0 m € 869.6 m

AGRANA GROUP

Our History

50% ACQUISITION

In the Hungarian corn starch

DEVELOPMENT

of the third business segment, Fruit, with the areas of fruit preparations

EXPANSION

of the company's presence in the area of fruit preparations in the Middle East and Africa with plants in Cairo|Egypt and Johannesburg|South

OPENING

of the wheat

OPENING

EXPANSION

of the company's presence of fruit preparations in Algeria by acquiring Elafruits

ACQUISITION

of the American organic distribution company Marroquin

Organic International

OPENING

of the Betaine plant in Tulln|Austria

FOUNDING

of AGRANA

Beteiligungs-AG

und Isoglucose mill HUNGRANA

and fruit juice

concentrates

Africa

starch plant in Pischelsdorf| Austria

of packaging stock and logistics hub in Kaposvár|HU

SPA

ACQUISITION of AUSTRIA JUICE C

Mercator-Emba

1988 1989 1990 1991

2003

2008

2010 - 2011

2012 2013

2014

2015

2016 2017 2018

2019

2020 - 2025

PARTNERSHIP

with

Germany's Südzucker AG

INITIAL PUBLIC OFFERING (IPO)

of AGRANA Beteiligungs-AG

1990-2008

OPENING

Of the bioethanol facility in Pischelsdorf| Austria

MERGER

of AGRANA Juice Holding GmbH and Ybbstaler Juice Austria GmbH and the launch of the new brand AUSTRIA JUICE

EXPANSION

OPENING

of the new AGRANA

Research C Innovation Center (ARIC) in Tulln|Austria

OPENING

of a second fruit preparation plant in Changzhou|China

EXPANSION

of the wheat starch

EXPANSION

of market position in Asia through the acquisition of the japanese fruit processing of TAIYO Kagaku Co. Ltd.

EXPANSION of the sugar and starch segments through acquisitions in Bosnia-Herzegovina, Bulgaria, Romania, Slovakia, the Czech Republic and Hungary

of the company's presence in the area of fruit preparations with a fourth US-

plant in Lysander|USA

EXPANSION

of market position in South America through the acquisition of 100% of the share in Main Process S.A., a

producer of fruit preparations in Argentina

plant in

Pischelsdorf|Austria

AGRANA NEXT LEVEL

Strategy Decision on strategic realignment of the Group

Shareholder structure

Rübenproduzenten Beteiligungs-GmbH

~30%

~10%

Südzucker

Raiffeisen-Holding NÖ-Wien

~70%

~50%

~2.7%1

	ZBG

~78.4%

~50%

	AGRANA Zucker, Stärke und Frucht Holding AG

~18.9%

Total:

62,488,976 shares

1 directly held by Südzucker

Management Board

CEO Stephan Büttner

• Strategy & Transformation incl. Mergers & Acquisitions

• Finance

• Commercial Excellence

• Information Technology

• Corporate Communications &

  Corporate Secretariat

• Human Resources

• Business Development

• Compliance & Corporate Governance

• Legal

• Investor Relations

  COO Franz Ennser

• Agricultural Raw Materials

• Operational Excellence incl. Occupational Safety and Investment

• Purchasing/Logistics/Supply Chain

  CTO Norbert Harringer

• Sustainability

• Research & Development

• Quality Management

  CAO Stephan Meeder

  • Internal Audit

1. Strategy "NEXT LEVEL"

   
   
   

   BACKGROUND "NEXT LEVEL"

   Challenges necessitate a new strategy
   
   

   Increase in turnover mainly due to rising prices

   Low growth

   Lack of strategic direction

   Unsatisfactory

   profitability

   Concentration in (Central) Europe with low market growth Customer focus in the food industry and trade with low growth High commodity component*: Vulnerability to agricultural cycles and market developments

   Focus on divisional strategies, no clear Group strategy

   Rigid organisational structure, lack of integration and use of synergies between segments

   Above-average administrative costs

   Low EBIT margin and low ROCE

   
   
   
   
   
   
   

   * Large part of the business (sugar, starch) additionally in a highly geopolitically influenced environment

   Objectives of AGRANA NEXT LEVEL

   • Increase efficiency and reduce costs

   • Harmonisation of structures and leveraging of

     synergies

   • Working capital optimisation:

     • Improvement in liquidity

     • Debt reduction to free up capital for future growth initiatives

   • Sustainability:

     • Net zero emissions by 2040 (Scope 1+2) and 2050 (Scope 3).

     • Investment of approx. € 540 million in

       sustainable technologies

       The changes affect both the holding company and the segments

       
       
       Organisational analysis across two horizons

       OBJECTIVE: Reducing costs and improving collaboration

       Horizon I project

       AGRANA HOLDING

       Cooperation

       ADMIN

HORIZON I:

(Cooperation between holding

company & segments)

• Optimisation of costs within the holding company and in collaboration with the segments

  Horizon II project (starch & sugar)

  Starch

  ADMIN

  Sugar

  ADMIN

  Synergies

  Fruit

  ADMIN JUICE

HORIZON II:

ADMIN FRUIT PREP

(Cooperation between holding company & segments)

• Reduction of structural costs in all overhead functions

• Identification of complexity and

  cost drivers

• Checking for potential synergies

AGRANA - NEXT LEVEL

Creating value with nature

Strategic holding company

Strategic development and control

vertical synergies

Innovation impulses

Commodity-focused/ processing expertise

Regional footprint -

proximity to raw materials

Agricultural Commodities & Specialities

Food & Beverage Solutions

Customer-focused/ formulation expertise

Global footprint -

proximity to the customer

Specialised standard products &

Specialities

R&D focus Raw material, process

Cost optimisation and special products

High-margin growth and innovation excellence

Tailored Food & Beverage Solutions

Product innovation/

and technology optimisation development

Specialities

AGR ANA | Austrian Small and M idcap Day | 4 November 2 0 2 5 16

Current holding company becomes strategic "light" holding company

Transition to a streamlined, efficient "light" holding company

• Current challenges: High administrative costs, lengthy decision-making processesand frequent duplications of effort

• Objective: Faster and more agile response to market changes

  Change of responsibilities in the Board of

  Directors

• Switch from individual board members having segment responsibility toboard members having joint responsibility for segments

• Reorganisation of reporting lines according to the departmental principle

• Focus on value-adding key roles

• Bundling of operational services : effective management through consolidation

• Clear governance structures : elimination of redundant processes

• Clear areas of responsibility : elimination

  of delays

• The Board of Director's focus : focus on strategic management

• Direct lines of control : new lines for central departments (HR, IT, Finance, Purchasing) to accelerate decision-making processes

  RESULT → reduction of complexity in all areas

  
  
  Three segments for two business areas Transformation from a strict divisional structure to a functional, permeable model with two main business areas
  
  

  Agricultural Commodities & Specialities

  Starch, Sugar, Fruit juice concentrate

  Food & Beverage Solutions

  Fruit-, Brown Flavor- & spicy preparations,

  flavors, syrups, sauces

  RESULT → synergy potential through interaction between the business areas to improve our market position and customer benefits

  
  
  Commodities segment with core competencies in raw materials management and in the first transformation

  Agricultural Commodities and Specialities Target Operating Model

  Raw materials

  Core competencies along the value chain

  Products / Specialities

  Apple and red fruit

  Potatoes Corn Wheat Sugar beet

  Raw materials management

  First transformation/ R&D

  Second transformation/ innovation

  Sales and distribution

  Commodity products: Starch, sugar and concentrates, and specialities developed from them: e.g. modified starches, betaine, aqueous phase

  • Strategic and

    operational sourcing

    • Production excellence

    • Special products

      • Sales excellence

        (Product Push)

        Specialities

        • Specified products based

          • Supply Chain Mgmt.

            
            
            

          • R&D expertise (process optimisation)

        AGR ANA | Austrian Small and M idcap Day | 4 November 2 0 2 5

    • Quality leadership and customer service

      on commodities

    • Smaller quantities

    • In-depth expertise

    • Singular product

    • Application-specific, not

      customer-specific

    • Pricing power

    • Share of segment sales

      <10% 19

      
      
      Customer-centric solutions segment with a focus on product development

      Food and beverage solutions target operating model

      Customer groups

      Core competencies along the value chain

      Solutions

      Food

      industry Food

      Service Beverage

      Raw materials management

      First transformation/ R&D

      Second transformation/ innovation

      • Recipes (formulation and

        Customer consulting and sales

    • Global and local market

      Fruit prep (dairy/non-dairy), non-fruit-prep, juice compounds, natural and FTNF flavors, etc.

      • Strategic raw

        management)

        presence

        New markets

        Higher value creation

        material mgmt.

        • Co-creation /

          customer access

          • Process innovations and innovation management

          • Sales Excellence

            (Product Pull)

            Markets

            New capabilities

            Capabilities

            Dairy fruit preparation

            Core market

            Beyond Growth markets

            Product development Fruit Product development Juice

            Flavor expertise/ compounds AJ

Flavors

Innovations together with

customers (SERVICE)

New solutions for existing/new customers

Food Service | Ice Cream Bakery | non-Dairy

Tex-

tures Product development

Sweeteners

Our strategic priorities

Sales Excellence / Customer Focus

GROUP-WIDE

Operational Excellence

People & Culture

Food & Beverage Solutions (FBS)

Agricultural Commodities & Specialities (ACS)

Strategic Holding

Footprint

• Optimisation & Consolidation

• Roll-Out

FBS strategy

• Integration of AUSTRIA JUICE

• Growth in core segments

• Leverage flavours (roll-out)

• Reduce "overheads"

  Target Costing Sugar

  Beyond Starch

  Horizont II (costs)

  ACS strategy

  • Site optimisation

  • Decarbonisation

    Securing financial flexibility

• Implementation of financing strategy to manage net financial debt

• Further working capital optimisation measures (e.g. inventory)

Branding

Horizont I (costs)

Shared Services

Structural cost savings of €100 million p.a. to be achieved by the end of FY 2027|28 Horizon I & II In-year effects of measures (net), in € million

65

52

100

Initial target

€ 76 million*

100

2244%

76%

76%

Target

Horizont I & II

Target FY 25|26

Target FY 26|27

Target FY 27|28

Staff costs Material and

other operating costs

*The original target of € 76 million was raised to €100 million in June 2025

5 22

AGR ANA | Austrian Small and M idcap Day | 4 November 2 0 2

AGR ANA | Austrian Small and M idcap Day | 4 November 2 0 2 5 22

Overview of current status of measures to achieve target Horizon I & II In-year effects of measures (net), in € million

	10-20	Further measures are to be identified
	29	Measures evaluated and prepared for implementation
	61	Measures under implementation / already implemented

100

30%

Central support functions Global IT/HR/FI/ PU

10%

in development

60%

Business area ACS; operational areas

Annual target

Status measures

AGR ANA | Austrian Small and M idcap Day | 4 November 2 0 2 5 23

Financial goals 2030+

• Greater efficiency at lower fixed costs

• A new role for the holding and the segments

  24

• Focus on value-added products, co-creative development of customised solutions with customers

  EBITDA margin

  > 10%

  ROCE

  > 10%

  
  
  
  
  NEW Segment Reporting (1)

  OLD: NEW:

  Fruit segment

  Food & Beverage Solutions (FBS) segment

  Starch segment

  ACS - Starch segment

  • Starting with this reporting period, the segment reporting is based on a new structure more closely aligned with the strategic core activities and value chains of AGRANA NEXT LEVEL

    Sugar segment

    ACS - Sugar segment

    For a reconciliation "OLD vs NEW" pls also refer to the Appendix slides 75 and 76!

    Holding Co. &

    Other (HCO)

    Reporting ar no segment

  • Aim of this change in reporting is to present the financial performance of our business areas and segments even more transparently and meaningfully and to better reflect the growing integration and the operational focus of individual units

ea, but

NEW Segment Reporting (2)

AGRANA

Business areas

Agricultural Commodities & Specialities (ACS)

Food & Berverage Solutions (FBS)

Segments

ACS - STARCH ACS - SUGAR

FBS

HCO

1. Focus on ESG

AGRANA's climate strategy is on track

2030 (starting from the base year 2019|20)

SBTi NEAR-TERM TARGET 2030

SCOPE 1 SCOPE 2 SCOPE 3

50% abs. reduction in GHG emissions

30% abs. reduction in GHG emissions

2024|25 financial year

Compared to the previous year 2023|24:

• 8.4% reduction in total emissions

• 1.7% reduction in Scope 1

• 10.7% reduction in Scope 3

  AGRANA Group CCF

  Scope 1;

  16%

  Scope 2;

  4%

  Scope 3;

  80%

  ESG-Ratings

  
  
  

  CDP Climate B

  CDP Water B new

  CDP Forest C new

  
  
  

  Ecovadis Sugar Platin

  Ecovadis Starch Committed

  
  
  
  
  

  Ecovadis Austria Juice Gold

  
  
  

  VÖNIX Listed

  Scope 1 Scope 2 Scope 3
  
  Sustainability at AGRANA - core action areas
  
  Sustainability is important to AGRANA, which is why sustainability aspects were integrated into the Group strategy in order to harmonise ecological, economic and social goals The focus of our activities lies in the following areas:

  • Emission reduction & energy efficiency,

  • Full utilization of raw materials and sustainable agriculture,

  • Labour and product safety,

  • Gender equality,

  • Human Rights and value-oriented corporate governance

CLIMATE CHANGE MITIGATION AND RESOURCE EFFICIENCY

Sustainability targets of the AGRANA Group

Areas of action	Targets and KPI	FY 2024|25
Reduction of GHG emissions| SBTi-verified climate targets	50% absolute reduction of Scope 1 and 2 GHG emissions by 2030 and net-zero emissions by 2040	On track
	Approx. 30% reduction of Scope 3 emissions by 2030 and net-zero emissions by 2050	On track
Sustainable sourcing of raw materials	Fruit juice concentrate business: 100% sustainable sourcing by 2030|31 as defined under the Sustainable Juice Covenant	42%
	Fruit preparations business: 26% of processed raw material volume to be FSA- or equivalent-validated by 2026|27	26%
	Starch and Sugar segments: maintenance of the 100% FSA or equivalent coverage rate for contract farmers	100%
	Development of awareness-raising measures for regenerative agriculture by the end of 2026|27	New target
Responsible use of water	Reduction of relative water consumption by 2% by 2030, and reduction of absolute water withdrawal in areas with water scarcity risks	New targets
Optimisation of waste recovery	90% waste recovery rate (excluding construction waste) by 2026|27	New target