September 15, 2021 the rating committee of RA “Expert-Rating” made decision to update a long-
term credit rating of KSG Agro S.A. at the level uaА+ according to the national scale. (The rating
according to the international scale is at the level ВВВ.) The borrower or the particular debt
instrument with rating uaА is characterized by a high creditworthiness compared to other Ukrainian
borrowers or debt instruments. The level of creditworthiness is susceptible to the impact of adverse
commercial, financial and economic conditions. The Agency updated the credit rating after the
analysis of data of the consolidated statements of KSG Agro S.A for the first half of 2021.

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