1. Food Industry Enterprise „PEPEES” JSC „PEPEES” JSC – Short Overview

2. PEPEES JSC – current situation Location Food Industry Enterpise „PEPEES” JSC 121 Poznanska str., 18-402 Lomza, Poland The share capital 4 980 000 PLN, paid The number of issued shares 83 000 000 listed on the Warsaw Stock Exchange Management Board Wojciech Faszczewski – President of the Management Board Krzysztof Homenda – Member of the Management Board– Financial Director Number of employees [in 2011] white- collar workers - 83 blue- collar workers - 108 casual workers - 30 Shareholders holding more than 5% of the total vote at the General Shareholders Meeting Midston Development Limited 10,86% TRADO S.A. 10,36% Richie Holding LTD 7,39% Mazowiecka Korporacja Finansowa Sp. z o.o. 6,50%

3. PEPEES JSC – current situation Capital Group: Currently, PEPEES Capital Group is made of: Zakłady Przemysłu Ziemniaczanego „Lublin” Sp. z o.o. 9 Betonowa str., 20-402 Lublin Sector: Processing and preserving of potatoes Products : potatoes pancakes, potatoes dumplings, starch syrups, potato grits Przedsiębiorstwo Przemysłu Ziemniaczanego „Bronisław” Sp. z o.o. Bronisław, 88-320 Strzelno Sector: Processing and preserving of potatoes Products: potato starch, potato flakes OZEnergy Sp. z o.o. 121 Poznańska str., 18-402 Łomża Sector: Renewable energy Products: Energy from renewable energy sources (biogas) 82,38% ZPZ Lublin Sp. z o.o. 100% OZEnergy Sp. z o.o. 51,06% PPZ Bronisław Sp. z o.o.

4. Main characteristic of PEPEES JSC Main characteristic of PEPEES JSC Company History  1960 established Food Industry Enterprise (Department of starch production and Section of Dextrose production)  1970s estabilished Feed Factory  1978/ ‘79 included Brewery Lomza into Food Industry Enterprise structures  1994 entered into Privatization Programm  1996 bought shares of Brewery Ketrzyn and ZPZ” Lublin”  22.05.1997 shares of „PEPEES” S.A. listed first time on the Warsaw Stock Exchange  1998 Feed Factory sold  1999 shares of Brewery Ketrzyn sold  2007 Brewery Lomza sold  2010 established a subsidiary company OZEnergy Sp. z o.o.  2011 bought shares of PPZ „Bronislaw” Sp. z o.o. Awards and Acknowledgements  Quality of the Year 2010  Quality of the Year 2009  Agrobusiness Eagle award of theYear 2009  National Champion of Agroleague award of the Year 2008  Quality of the Year 2008

5. Company Profile – current scope of operation Company Profile – current scope of operation Production departments 1. Department of Starch Production with Potato Protein Recovery Station 2. Department of Hydrolised Starch Production consisting of:  Section of Syrups Production  Section of Dextrose crystalline Production  Section of Maltodextrins Production  Section of Dextrose anhydrous Production Sale offer  potato starch  potato protein  syrups  dextrose crystalline  maltodextrins  dextrose anhydrous

6. Company Profile Company Profile Chances and Risks CHANCESCHANCESCHANCESCHANCES RISKSRISKS  Products quality  PEPEES – well known company on potato starch market  PEPEES - only one dextrose producer in Poland  Renowned clients  Good knowledge of potato starch market  Wide- ranging assortment of products in comparison with polish competition  Implemented the ERP system  Implemented the Quality Management System  Geographic location – (near eastern market)  Cheap labour  Reduction of production costs  Optimistic sales projections for next 2 years  Growth Strategy  Potatoes- one raw material  Production campaign (3 months)  High impact of climatic conditions on potato starch production  Energy intensity of production  Low level of diversification of products in comparison with EU competitors  High impact of currency movements (export, import)  Low potato starch production quota  Substistutes for potato starch (tapioca starch)  Adverse changes in Common Agricultural Policy of EU

7. Growth Strategy Growth Strategy Long- term Goals Green Energy (electic and heat) from Biogas Production costs- cutting Extending Assortment of Products Diversification of Starch Sources Increasing Values of PEPEES Properties Increasing Value of Company Investment Projects Modernization and development of existing production and technical installations. Modified Starch Plant Wheat Starch Plant Modernization of water and sewage management. Biogas Plant with Biogas- fueled Cogeneration System

8. Growth Strategy Investment Projects Biogas Plant with Biogas- fueled Cogeneration System Range: technological installation for anaerobic treatment of wastewater with simultaneous biogas production and biogas- powered cogeneration system (CHP) to transform biogas into electricity and heat Products: electric power, heat Modified Starch Plant Range: new building with installations to suplply utilities; technological installation for food modified starch production allowed efficiency of 20 metric tons of modified starches food grade per 24 hours Products: E1404, E1412, E1414, E1420, E1422, E1451

9. Prospects Prospects Energy from renewable source (biogas) Energy from renewable source (biogas) Diversification of starch sources and products assortment Diversification of starch sources and products assortment New output markets New output markets Further consolidation in potato starch sector Further consolidation in potato starch sector

10. Food Industry Enterprise „PEPEES” JSC Thank You for Your Attention For more information please contact: Food Industry Enterprise „PEPEES” JSC pepees@pepees.plpepees@pepees.pl, www.pepees.pl 121 Poznanska str., 18- 402 Lomza tel. 048 86 215 58 00, fax: 048 86 218 32 42