AB Akola Group

Consolidated and Company‘s

Financial Statements

For the financial year 2024/2025 ended 30 June 2025

Prepared in accordance with International Financial Reporting Standards as adopted by the European Union, presented together with Independent Auditor's Report

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

Content

Consolidated and Company‘s statements of nancial position

Consolidated and Company’s statements of prot (loss) and other comprehensive income

Consolidated statement of changes in equity

Company‘s statement of changes in equity

Consolidated and Company‘s statements of cash flow

Notes to the nancial statements:

1 General information 18 Lease liabilities

2 Material accounting policies 19 Provisions

3 Group structure and changes within the Group 20 Trade payables and supplier nance arrangements

4 Intangible assets 21

Other non

–

current liabilities, other current liabilities, and contract

liabilities

5 Property, plant and equipment 22 Segment information

6 Right-of-use assets 23 Cost of sales

7 Non-current receivables and prepayments 24 Selling (expenses)

8 Biological assets 25 General and administrative (expenses)

9 Inventories 26 Other income (expenses)

10 Prepayments 27 Income (expenses) from nancing activities

11 Trade receivables 28 Income tax

12 Other current assets and contract assets 29 Basic and diluted earnings per share

13 Other nancial assets and derivative nancial instruments 30 Financial assets and liabilities and risk management

14 Cash and cash equivalents 31 Commitments and contingencies

15 Equity attributable to shareholders of the company 32 Related parties’ transactions

16 Grants and subsidies 33 Partly owned subsidiaries

17 Borrowings 34 Subsequent events

Content

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

Consolidated and Company’s statements of financial position

ASSETS			Group		Company
	Notes	30/06/2025	30/06/2024	30/06/2025	30/06/2024
Non-current assets
Intangible assets	4	11,265	9,280	98	113
Property, plant and equipment	5	241,281	205,593	843	884
Right-of-use assets	6	44,034	37,217	240	276
Investment property		623	742	–	–
Biological assets	8	24,261	16,442	–	–
Investments in subsidiaries	3	–	–	220,770	222,488
Investments in associates and joint venture	3	2,975	1,464	6,059	4,272
Other investments and prepayments for financial assets		20	61	10	10
Non-current financial assets
Non-current receivables	7	7,492	7,054	–	–
Non-current receivables from related parties	7, 32	194	1,450	194	4,400
Prepayments made for financial assets from related parties	32	600	–	600	–
Net investment, related with sublease	7	–	–	12,113	12,593
Total non-current financial assets		8,757	9,332	12,907	16,993
Non-current prepayments	7	471	828	–	–
Deferred income tax asset	28	12,691	8,436	115	76
Total non-current assets		345,907	288,567	241,042	245,112
Current assets
Biological assets	8	33,842	32,042	–	–
Inventories	9	227,425	222,776	–	–
Current prepayments	10	24,402	10,547	59	204
Current accounts receivable
Trade receivables	11	347,638	295,809	–	–
Receivables from related parties	32	8	2,398	26,615	19,350
Income tax receivable		2,049	3,112	–	–
Total current accounts receivable		349,695	301,319	26,615	19,391
Contract assets	12	9,227	5,733	3	–
Other current assets	12	8,548	6,320	929	41
Current net investment, related with sublease	7	–	–	494	314
Derivative financial instruments	13	970	1,593	–	–
Other current financial assets	13	527	1,127	–	–
Cash and cash equivalents	14	13,729	16,037	82	305
Total current assets		668,365	597,494	28,182	20,216
Total assets		1,014,272	886,061	269,224	265,328

The accompanying notes are an integral part of these nancial statements.

Consolidated and

Company‘s

statements of

financial position

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

Consolidated and Company’s statements of financial position / continued

EQUITY AND LIABILTIES			Group		Company
	Notes	30/06/2025	30/06/2024	30/06/2025	30/06/2024
Equity attributable to shareholders of the Company
Share capital	1	48,479	48,479	48,479	48,479
Share premium	1	25,798	25,779	25,798	25,779
Legal and other reserves	15	8,533	4,847	8,511	4,737
Own shares (-)	15	(344)	(411)	(344)	(411)
Foreign currency translation reserve	15	178	96	–	–
Retained earnings		262,073	216,844	131,363	122,464
Total equity attributable to equity holders of the Company		344,717	295,634	213,807	201,048
Non-controlling interest	33	23,514	16,685	–	–
Total equity		368,231	312,319	213,807	201,048
Liabilities
Non-current liabilities
Grants and subsidies	16	11,312	8,415	–	–
Borrowings	17, 32	88,941	60,017	21,200	26,500
Lease liabilities	19	41,861	35,777	11,661	12,027
Non-current trade payables	18	11	1	1	1
Deferred income tax liability	28	1,987	1,399	–	–
Non-current liabilities to related parties	28, 32	1,729	–	–	–
Provisions	19	1,622	1,218	2	17
Other non-current liabilities	21	1,377	1,181	–	–
Total non-current liabilities		148,840	108,008	32,864	38,545
Current liabilities
Borrowings
Current portion of non-current borrowings	17, 32	21,764	18,477	5,300	5,300
Current borrowings	17.32	228,611	188,404	7,711	1,765
Lease liabilities	18	10,673	14,949	569	524
Trade and other payables
Trade payables	20	172,093	185,235	18	55
Payables to related parties	32	384	272	8,115	17,335
Total trade and other payables		172,477	185,507	8,133	17,390
Contract liabilities	21, 32	5,055	3,622	–	–
Income tax payable		2,648	179	–	–
Derivative financial instruments	13	251	161	–	–
Provisions	19	3,359	3,663	5	–
Other current liabilities	21	52,363	50,772	835	756
Total current liabilities		497,201	465,734	22,553	25,735
Total equity and total liabilities		1,014,272	886,061	269,224	265,328

The accompanying notes are an integral part of these nancial statements.

Consolidated and

Company‘s

statements of

financial position

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

Consolidated and Company’s statements of profit (loss) and other comprehensive income

	Notes		Group		Company
		30/06/2025	30/06/2024	30/06/2025	30/06/2024
Revenue from contracts with customers	22	1,580,699	1,506,238	1,633	1,633
Cost of sales	23	(1,386,613)	(1,355,122)	–	–
Gross profit (loss)		194,086	151,116	1,633	1,633
Operating (expenses)
Selling (expenses)	24	(43,260)	(42,700)	–	–
General and administrative (expenses)	25	(72,166)	(65,627)	(3,613)	(3,149)
Total operating (expenses)		(115,426)	(108,327)	(3,613)	(3,149)
(Expenses)/ reversal of impairment of trade receivables, contract assets and other receivables	7,10,11,12	(2,182)	145	–	–
Other income	26	8,365	10,224	708	44,051
Dividend income	26	–	–	21,665	37,310
Other (expenses)	26	(5,927)	(7,062)	(1,620)	(1,349)
Operating profit (loss)		78, 916	46,096	18,773	78,496
Income from financing activities	27	6,445	5,359	1,901	1,554
(Expenses) from financing activities	27	(22,652)	(24,477)	(2,986)	(3,922)
Share of profit (loss) of an associates and a joint ventures		(638)	13	–	–
Profit (loss) before tax		62, 071	26,991	17,688	76,128
Income tax and deferred tax income (expenses)	28	(1,379)	(2,078)	39	(208)
Net profit (loss)		60, 692	24,913	17,727	75,920
Net profit (loss) attributable to:
The shareholders of the Company		54, 270	21,934	17,727	75,920
Non-controlling interest		6, 422	2,979	–	–
		60, 692	24,913	17,727	75,920
Basic earnings per share (EUR)	29	0.36	0.15	–	–
Diluted earnings per share (EUR)	29	0.36	0.15	–	–
Other comprehensive income
Other comprehensive income (loss), to be reclassified to profit (loss) in subsequent periods:
Exchange differences on translation of foreign operations into the Group’s presentation currency		121	350	–	–
Cash flow hedges – effective portion of change in fair value	13	355	400	–	–
Cash flow hedges – reclassified to profit (loss)	13	(453)	(816)	–	–
Total other comprehensive income (loss) to be reclassified to profit (loss) in subsequent periods		23	(66)	–	–
Other comprehensive income (loss) not to be reclassified to profit (loss) in subsequent periods:		–	–	–	–
Total other comprehensive income (loss) not to be reclassified to profit (loss) in subsequent periods		–	–	–	–
Total other comprehensive income (loss), net of tax		23	(66)	–	–
Total comprehensive income, net of tax		60, 715	24,847	17,727	75,920
Total comprehensive income, net of tax attributable to:
The shareholders of the Company		54, 264	21,794	17,727	75,920
Non-controlling interest	33	6,451	3,053	–	–
		60, 715	24,847	17,727	75,920

The accompanying notes are an integral part of these nancial statements.

Consolidated and

Company’s

statements of profit

(loss) and other

comprehensive

income

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

Consolidated statement of changes in equity

							Attributed to the shareholders of the Company
					Cash flow	Legal and	Foreign			Non-
		Share	Own shares	Share	hedge	other	currency	Retained	Subtotal	controlling	Total
		capital		premium	reserve	reserve	translation	earnings		interest
							reserve
Balance as at 1 July 2023		46,715	(426)	23,928	476	8,116	(130)	199,301	277,981	14,157	292,137
Net profit (loss)		–	–	–	–	–	–	21,934	21,934	2,979	24,913
Total other comprehensive income (loss)		–	–	–	(366)	–	226	–	(140)	74	(66)
Total comprehensive income, net of tax		–	–	–	(366)	–	226	21,934	21,794	3,053	24,847
Disposal of own shares	3	–	15	–	–	–	–	(15)	–	–	–
Dividends declared by the Company	15	–	–	–	–	–	–	(4,169)	(4,169)	–	(4,169)
Dividends declared by the subsidiaries		–	–	–	–	–	–	–	–	(1,385)	(1,385)
Share capital increase	1	1,764	–	1,851	–	(3,615)	–	–	–	–	–
Non-controlling interest arising on acquisition of subsidiaries	3	–	–	–	–	–	–	–	–	1,095	1,095
Share-based payments	29	–	–	–	–	56	–	–	56	–	56
Transfer to legal reserve	15	–	–	–	–	153	–	(153)	–	–	–
Reserves made	15	–	–	–	–	27	–	(27)	–	–	–
Disposal of non-controlling interest		–	–	–	–	–	–	–	–	(205)	(205)
Non-controlling interest arising due to changes in ownership	3	–	–	–	–	–	–	(113)	(113)	113	–
Acquisition of non-controlling interest	3	–	–	–	–	–	–	85	85	(143)	(57)
Balance as at 30 June 2024		48,479	(411)	25,779	110	4,737	96	216,844	295,634	16,685	312,319
Balance as at 1 July 2024		48,479	(411)	25,779	110	4,737	96	216,844	295,634	16,685	312,319
Net profit (loss)		–	–	–	–	–	–	54,270	54,270	6,422	60,692
Total other comprehensive income (loss)		–	–	–	(88)	–	82	–	(6)	29	23
Total comprehensive income, net of tax		–	–	–	(88)	–	82	54,270	54,264	6,451	60,715
Disposal of own shares	3	–	67	19	–	(50)	–	(36)	–	–	–
Dividends declared by the Company	15	–	–	–	–	–	–	(4,995)	(4,995)	–	(4,995)
Dividends declared by the subsidiaries		–	–	–	–	–	–	–	–	(396)	(396)
Non-controlling interest arising on acquisition of subsidiaries	3	–	–	–	–	–	–	–	–	568	568
Share-based payments	29	–	–	–	–	27	–	–	27	–	27
Transfer to legal reserve	15	–	–	–	–	3,797	–	(3,797)	–	–	–
Disposal of non-controlling interest		–	–	–	–	–	–	–	–	2	2
Non-controlling interest arising due to changes in ownership	3	–	–	–	–	–	–	(225)	(225)	225	–
Acquisition of non-controlling interest	3	–	–	–	–	–	–	12	12	(21)	(9)
Balance as at 30 June 2025		48,479	(344)	25,798	22	8,511	178	262,073	344,717	23,514	368,231

Notes

The accompanying notes are an integral part of these nancial statements.

Consolidated

statement of

changes in equity

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

Company‘s statement of changes in equity

Notes

Capital

Own

premium

Legal reserve and

other reserves

Retained Earnings

Total

Balance as at 1 July 2023

46,715

(426)

23,928

8,116

50,908

129,241

Net profit (loss)

–

75,920

Total other comprehensive income (loss) – – – – – –

Total comprehensive income, net of tax

–

75,920

Dividends

–

(4,169)

Share-based payments

–

Disposal of own shares

–

(15)

–

Share capital increase

1,764

–

1,851

(3,615)

–

Transfer to legal reserve

–

153

(153)

–

Reserves made

–

(27)

–

Balance as at 30 June 2024

48,479

(411)

25,779

4,737

122,464

201,048

Balance as at 1 July 2024

48,479

(411)

25,779

4,737

122,464

201,048

Net profit (loss)

–

17,727

Total other comprehensive income (loss)

–

Total comprehensive income, net of tax

–

17,727

Dividends

–

(4,995)

Share-based payments

–

Disposal of own shares

–

(50)

(36)

–

Transfer to legal reserve

–

3,797

(3,797)

–

Balance as at 30 June 2025

48,479

(344)

25,798

8,511

131,363

213,807

The accompanying notes are an integral part of these nancial statements

Company‘s

statement of

changes in equity

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

Consolidated and Company’s statements of cash flow

			Group		Company
	Notes	30/06/2025	30/06/2024	30/06/2025	30/06/2024
Cash flow from (to) operating activities
Net profit (loss)		60,692	24,913	17,727	75,920
Adjustments for non-cash items:
Depreciation and amortization	4, 5, 6	29,227	25,660	188	143
Grants amortization	16	(1,026)	(846)	–	–
(Gain)/Loss on disposal of property, plant and equipment	26	(1,304)	(1,372)	–	–
Subsequent measurement of sublease		–	–	(10)	(414)
Change in allowance and write-offs for receivables	10,11,12,32	2,182	(145)	–	–
(Reversal) inventories write down to net realizable value	9	472	(216)	–	–
Change of provision for onerous contracts		–	30	–	–
Goodwill impairment	26	2,249	–	–	–
Change in provisions and accrued expenses		(812)	(1,155)	48	46
Change in fair value of biological assets	8	(7,431)	(3,669)	–	–
Change in accrued share-based payment		27	56	27	56
(Gain)/Loss on disposal of subsidiaries and associates and joint ventures		–	–	(200)	(43,583)
Impairment loss on non-current financial assets and prepayments for financial assets		–	377	1,600	1,320
Change in deferred income tax	28	(3,691)	(126)	(39)	208
Global top-up tax	28	1,729	–	–	–
Current income tax expenses	28	3,341	2,204	–	–
Expenses (income) from change in fair value of financial instruments	13	709	2,448	–	–
Share of profit (loss) of an associate and a joint venture		638	(13)	–	–
Dividend (income)		–	–	(21,665)	(37,310)
Interest (income) and other financial (income)	27	(6,445)	(5,359)	(1,901)	(1,554)
Interest expenses and other financial expenses	27	22,652	24,477	2,986	3,922
		103,209	67,264	(1,239)	(1,246)
Changes in working capital:
(Increase) decrease in biological assets		(1,835)	3,561	–	–
(Increase) decrease in inventories incl. right of return asset		14,153	46,517	–	7
(Increase) decrease in prepayments		(11,074)	(4,893)	146	101
(Increase) decrease in contract assets, trade and other accounts receivable		(38,353)	4,410	489	210
(Increase) decrease in restricted cash	14	472	(170)	–	–
Increase (decrease) in contract liabilities, refund liabilities, trade, and other accounts		(18,135)	(16,794)	(1,071)	(4,830)
payable
Income tax (paid)		(2,106)	(6,160)	–	–
Net cash flow from (to) operating activities		46,331	93,735	(1,675)	(5,758)

The accompanying notes are an integral part of these nancial statements.

Consolidated and

Company‘s

statements of cash

flow

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

Consolidated and Company’s statements of cash flow / continued

			Group		Company
	Notes	30/06/2025	30/06/2024	30/06/2025	30/06/2024
Cash flow from (to) investing activities
(Acquisition) of intangible assets, property, plant and equipment and investment	4, 5, 6	(57,805)	(42,078)	(25)	(104)
property
Proceeds from sale of intangible assets, property, plant and equipment and investment property		6,168	4,527	3	11
(Acquisition) of subsidiaries (less received cash balance in the Group), including	3	(23,128)	(12,667)	–	–
payments for subsidiaries acquired in prior periods
(Acquisition) of associates	3	–	(1,450)	(19)	(1,450)
Disposal of subsidiaries (less disposed cash balance in the Group)	3	354	–	486	–
Decrease (increase) in prepayments for financial assets		(600)	132	(600)	132
Proceeds from disposal of associates and other investments	26	–	333	215	–
Investment in associate via convertible loan		(1,250)	(900)	(1,250)	(900)
Loans (granted)		(1,056)	(23)	(2,702)	(15,203)
Repayment of granted loans		464	249	205	8,700
Interest received	27	6,445	5,359	201	104
Dividends received		–	–	7,526	12,425
Net cash flows from (to) investing activities		(70,408)	(46,518)	4,040	3,715
Cash flows from (to) financing activities
Proceeds from borrowings	17, 30	107,452	68,411	15,050	33,033
(Repayment) of borrowings	17, 30	(50,580)	(73,178)	(10,300)	(23,513)
Lease (payments)	18, 30	(10,944)	(14,352)	(219)	(830)
Subsidies received	16, 30	3,589	3,451	37	–
Interest (paid)	30	(22,286)	(22,899)	(2,161)	(2,287)
Dividends paid to equity holders of the parent		(4,995)	(4,169)	(4,995)	(4,169)
Dividends (paid) to non-controlling interest	33	(396)	(1,385)	–	–
(Acquisition) of non-controlling interest		(9)	(58)	–	–
Net cash flows from (to) financing activities		21,831	(44,179)	(2,588)	2,234
Net (decrease) increase in cash and cash equivalents		(2,246)	3,038	(223)	191
Net foreign exchange difference		(62)	265	–	–
Cash and cash equivalents at the beginning of the year	14	16,037	13,264	305	114
Cash and cash equivalents at the end of the year	14	13,729	16,037	82	305
Non-cash investing activity:
Property, plant and equipment acquisitions financed by lease		–	4,726	–	–
Dividends received (Non-cash)		–	–	14,139	23,713
Acquisition of right-of-use assets		14,350	16,626	82	269

The accompanying notes are an integral part of these financial statements.

Consolidated and

Company‘s

statements of cash

flow

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

Notes to the financial statements

1. General information

AB Akola Group (hereinafter the Company or the Parent) is a public limited liability company registered in the Republic of Lithuania. The

Company was registered on 27 November 1995 with the Register of Legal Entities managed by the public institution the State Enterprise

Centre of Registers.

The Company code 148030011. The Company has been founded for an inde nite period.

The address of the Company's registered of ce is: Subačiaus g. 5, LT-01302 Vilnius, Lithuania.

The nancial statements have been prepared for the year ended 30 June 2025, and include the nancial statements of the parent company

AB Akola Group and the consolidated nancial statements of the Company and its subsidiaries (hereinafter referred to as the “Group”).

The Group's principal activities are described in Note 22.

The Group's and the Company's nancial year begins on 1 July of the calendar year and ends on 30 June of the following calendar year. The

Group separately discloses shareholders who own more than 5% of the shares; all other shareholders, whose ownership is less than 5%, are

classi ed as "Other shareholders (private and institutional investors)."

As at 30 June 2025 and as at 30 June 2024 the Company's shareholders were:

All the shares of the Company are ordinary shares with the par value of EUR 0.29 each as at 30 June 2025 (EUR 0.29 each as at 30 June 2024)

and were fully paid as at 30 June 2025 and as at 30 June 2024.

The Company holds 596,662 of its own shares, percentage 0.36% as at 30 June 2025 (as at 30 June 2024 – 711,972). Subsidiaries and other

related companies did not hold any shares of the Company as at 30 June 2025 and as at 30 June 2024.

All of the Company’s ordinary shares are included in the Of cial list of Nasdaq Vilnius stock exchange (ISIN code LT0000128092). The

Company’s trading ticker in Nasdaq Vilnius stock exchange is AKO1L.

As at 30 June 2025 the number of employees of the Group was 5,374 (as at 30 June 2024 – 4,959).

As at 30 June 2025 the number of employees of the Company was 24 (as at 30 June 2024 – 21).

The Company’s management approved these nancial statements on 10

October 2025. The shareholders of the Company have a statutory

right to approve these nancial statements or not to approve them and to require preparation of a new set of nancial statements.

During the nancial year ending in 30 June 2025 there were no changes in authorized capital of the Company (during the nancial year ending

on 30 June 2024, the authorized capital of the Company had been increased by EUR 1,764 thousand and amounted to EUR 48,479 thousand).

Notes to the

financial

statements

1. General

information

	30/06/2025		30/06/2024
	Number of shares	Ownership	Number of shares	Ownership
	held	%	held	%
Akola ApS (Denmark)	109,909,167	65.75%	109,909,167	65.75%
Darius Zubas	17,049,995	10.20%	17,049,995	10.20%
UAB Artea Asset Management (former UAB SB Asset Management)	8,475,035	5.07%	8,449,906	5.05%
Other shareholders (private and institutional investors)	31,736,284	18.98%	31,761,413	19.00%
Total	167,170,481	100.00%	167,170,481	100.00%

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

2. Material accounting policies

If not stated otherwise, the Company’s separate nancial statements are prepared using the same accounting policies as the ones used by the

Group.

The principal accounting policies adopted in preparing the Group’s nancial statements for the year ended 30 June 2025 are as follows:

2.1. Basis of preparation

These nancial statements have been prepared on the historical cost basis, except for biological assets (Note 2.20), commitments to purchase

agricultural produce (unrecognized rm commitment) (Note 2.12), derivative nancial instruments (Note 2.12), which have been measured at

fair value.

These nancial statements were prepared in accordance with International Financial Reporting Standards (IFRS), as adopted by the European

Union (hereinafter the EU).

These nancial statements comprise the Group’s consolidated nancial statements and the Company’s separate nancial statements. The

Group and Company have prepared the nancial statements on the going concern basis.

In these nancial statements, all amounts are presented in euros and rounded to the nearest thousand, unless otherwise indicated. Considering

that the amounts in the nancial statements are calculated in thousands of euros, there may be discrepancies between the gures in the tables.

Such discrepancies are considered insigni cant in the nancial statements.

IFRSs and their interpretations, announced and adopted by the European Union, effective for the current reporting period.

The accounting policies adopted are consistent with those of the previous nancial year except for the following IFRS and

amendments to IFRS which have been adopted by both the Group and Company as of 1 July 2024:

 IAS 1 Presentation of Financial Statements: Classi cation of Liabilities as Current or Non – current (Amendments);

 IFRS 16 Leases: Lease Liability in a Sale and Leaseback (amendments);

 IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments Disclosure – Supplier Finance Arrangements (Amendments).

These changes were not relevant to the Company and Group, except for the following:

 IAS 1 Presentation of Financial Statements: Classi cation of Liabilities as Current or Non – current (Amendments);

The amendments are effective for annual reporting periods beginning on or after 1 January 2024 and are applied retrospectively. The objective

of the amendments is to clarify the principles in IAS 1 for the classi cation of liabilities as either current or non – current. The amendments

clarify the meaning of a right to defer settlement, the requirement for this right to exist at the end of the reporting period, that management

intent does not affect current or non – current classi cation, that options by the counterparty that could result in settlement by the transfer of

the entity’s own equity instruments do not affect current or non – current classi cation. Also, the amendments specify that only covenants with

which an entity must comply on or before the reporting date will affect a liability’s classi cation. Additional disclosures are also required for

non – current liabilities arising from loan arrangements that are subject to covenants to be complied within twelve months after the reporting

period. The Group's management has estimated the impact of the amendments of the standards and made the additional disclosure in the

Note 17.

 IFRS 16 Leases: Lease Liability in a Sale and Leaseback (amendments);

The amendments are effective for annual reporting periods beginning on or after 1 January 2024. The amendments are intended to improve

the requirements that a seller – lessee uses in measuring the lease liability arising in a sale and leaseback transaction in IFRS 16, while it does

not change the accounting for leases unrelated to sale and leaseback transactions. Under the amendments, the seller – lessee determines

‘lease payments’ or ‘revised lease payments’ in such a way that the seller – lessee would not recognise any amount of the gain or loss that

relates to the right of use it retains. Applying these requirements does not prevent the seller – lessee from recognising, in pro t or loss, any

gain or loss relating to the partial or full termination of a lease. The amendments apply retrospectively to sale and leaseback transactions

entered into after the date of initial application, being the beginning of the annual reporting period in which an entity rst applied IFRS 16. The

amendments had no impact on the nancial statements of the Group, as the amount of such transactions is considered to be immaterial.

2. Material

accounting policies

2.1. Basis of preparation of

the financial statements

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

2. Material accounting policies/continued

2.1. Basis of preparation/continued

 IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments Disclosure – Supplier Finance Arrangements (Amendments).

The amendments are effective for annual reporting periods beginning on or after 1 January 2024. The amendments supplement requirements

already in IFRS and require an entity to disclose the terms and conditions of supplier nance arrangements. Additionally, entities are required

to disclose at the beginning and end of reporting period the carrying amounts of supplier nance arrangement nancial liabilities and the line

items in which those liabilities are presented as well as the carrying amounts of nancial liabilities and line items, for which the nance providers

have already settled the corresponding trade payables. Entities should also disclose the type and effect of non – cash changes in the carrying

amounts of supplier nance arrangement nancial liabilities, which prevent the carrying amounts of the nancial liabilities from being

comparable. Furthermore, the amendments require an entity to disclose at the beginning and end of the reporting period the range of payment

due dates for nancial liabilities owed to the nance providers and for comparable trade payables that are not part of those arrangements. The

amendments had impact on the nancial statements of the Group, as the Group has supplier nance arrangements. The Group's management

has estimated the impact of the amendments of the standards and made the additional disclosure in the Note 20.

Standards issued but not yet effective and not early adopted:

The standards/amendments that are not yet effective, but have been endorsed by the European Union:

 IAS 21 The Effects of Changes in Foreign Exchange Rates: Lack of Exchangeability (Amendments).

The amendments are effective for annual reporting periods beginning on or after 1 January 2025, with earlier application permitted. The

Group’s management has assessed that the amendments will not have a significant impact on the Group’s financial statements, as Group,

while conducting part of its operations in foreign currencies, applies consistent accounting policies, and the nature of its foreign currency

transactions does not fall within the scope of exchangeability restrictions addressed by the amendments.

 IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosures – Classi cation and Measurement of Financial

Instruments (Amendments).

The amendments are effective for annual reporting periods beginning on or after 1 January 2026. Early adoption of amendments related to

the classi cation of nancial assets, and the related disclosures is permitted, with the option to apply the other amendments later. The

amendments clarify that a nancial liability is derecognised on the ‘settlement date’, when the obligation is discharged, cancelled, expired, or

otherwise quali es for derecognition. They introduce an accounting policy option to derecognise liabilities settled via electronic payment

systems before the settlement date, subject to speci c conditions. They also provide guidance on assessing the contractual cash flow

characteristics of nancial assets with environmental, social, and governance (ESG) – linked features or other similar contingent features.

Additionally, they clarify the treatment of non – recourse assets and contractually linked instruments and require additional disclosures under

IFRS 7 for nancial assets and liabilities with contingent event references (including ESG – linked) and equity instruments classi ed at fair value

through other comprehensive income. The Group ‘s management has not yet assessed the impact of the amendment on both Group ‘s and

Company's nancial statements.

 IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosures – Contracts Referencing Nature – dependent Electricity

(Amendments).

The amendments are effective for annual reporting periods beginning on or after 1 January 2026, with earlier application permitted. The

amendments include clarifying the application of the 'own – use' requirements, permitting hedge accounting if contracts in scope of the

amendments are used as hedging instruments, and introduce new disclosure requirements to enable investors to understand the impact of

these contracts on a company's nancial performance and cash flows. The clari cations regarding the 'own use' requirements must be applied

retrospectively, but the guidance permitting hedge accounting have to be applied prospectively to new hedging relationships designated on or

after the date of initial application. The Group ‘s management has not yet assessed the impact of the amendment on both Group ‘s and

Company's nancial statements.

2. Material

accounting policies

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

2. Material accounting policies/continued

2.1. Basis of preparation/continued

 Annual Improvements to IFRS Accounting Standards – Volume 11.

Annual Improvements to IFRS Accounting Standards – Volume 11 The IASB’s annual improvements process deals with non – urgent, but

necessary, clarifications and amendments to IFRS. In July 2024, the IASB issued Annual Improvements to IFRS Accounting Standards —

Volume 11. An entity shall apply those amendments for annual reporting periods beginning on or after 1 January 2026. The Annual

Improvements to IFRS Accounting Standards – Volume 11, includes amendments to IFRS 1, IFRS 7, IFRS 9, IFRS 10, and IAS 7. These

amendments aim to clarify wording, correct minor unintended consequences, oversights, or conflicts between requirements in the standards.

The Group's management will analyse the requirements of this newly issued standard and assess its impact.

The standards/amendments that are not yet effective and have not yet been endorsed by the European Union:

 Amendment in IFRS 10 Consolidated Financial Statements and IAS 28 Investments in Associates and Joint Ventures: Sale or

Contribution of Assets between an Investor and its Associate or Joint Venture.

In December 2015, the IASB postponed the effective date of this amendment indefinitely pending the outcome of its research project on the

equity method of accounting. The Group's management hasn't estimated the possible impact of the standard and still waiting for the results of

the project which has been postponed.

 IFRS 18 Presentation and Disclosure in Financial Statements.

IFRS 18 introduces new requirements on presentation within the statement of profit or loss. It requires an entity to classify all income and

expenses within its statement of profit or loss into one of the five categories: operating; investing; financing; income taxes; and discontinued

operations. These categories are complemented by the requirements to present subtotals and totals for ‘operating profit or loss’, ‘profit or loss

before financing and income taxes’ and ‘profit or loss’. It also requires disclosure of management – defined performance measures and includes

new requirements for aggregation and disaggregation of financial information based on the identified ‘roles’ of the primary financial statements

and the notes. In addition, there are consequential amendments to other accounting standards. IFRS 18 is effective for reporting periods

beginning on or after 1 January 2027, with earlier application permitted. Retrospective application is required in both annual and interim

financial statements. The standard has not yet been endorsed by the EU. The Group's management will analyse the requirements of this newly

issued standard and assess its impact.

 IFRS 19 Subsidiaries without Public Accountability: Disclosures.

In May 2024, the IASB issued the IFRS 19 – Subsidiaries without Public Accountability: Disclosures, and it becomes effective for annual

reporting periods beginning on or after 1 January 2027, with earlier application permitted. Group's management has assessed that standard

is applicable to the Group, however, it does not affect the Group’s consolidated nancial statements. The Group is currently assessing the

potential impact of IFRS 19 on the individual nancial statements of its subsidiaries.

2. Material

accounting policies

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

2. Material accounting policies/continued

2.2. Principles of consolidation

The consolidated nancial statements comprise the nancial statements of the Company and its subsidiaries. The nancial statements of the

subsidiaries are prepared for the same reporting date, using consistent accounting policies.

In preparing the consolidated nancial statements, the results of operations and nancial position of each entity are presented in euros, which

is the functional currency of the Company and the Group, as well as the presentation currency of the consolidated nancial statements.

Business combinations are accounted for using the acquisition method.

2.3. Investments into associates, joint ventures and subsidiaries

The Group accounts associates and joint venture using equity method. Impairment assessment of investments into associates and joint venture

is performed when there is an indication that the asset may be impaired, or the impairment losses recognized in prior years no longer exist.

Investments into associates and joint ventures in the Company’s separate nancial statements are carried at cost less impairment.

In the Company’s separate nancial statements investments into subsidiaries are accounted for using the cost method. The carrying value of

investments is reduced to recognize an impairment loss of the value of the investments, such reduction being determined and made for each

investment individually.

The impairment expenses of the subsidiaries, associates and joint ventures are accounted in statements of the pro t (loss) and other

comprehensive income under the other (expenses).

2.4. Intangible assets and goodwill

Intangible assets are recognized if it is probable that future economic bene ts that are attributable to the asset will flow to the Group and the

Company and the cost of assets can be measured reliably.

The useful lives of intangible assets can be either de nite or inde nite. Intangible assets are accounted for at acquisition cost, less accumulated

amortization and impairment losses. The cost of intangible assets acquired in business combinations is recorded at fair value on the acquisition

date.

Amortization is calculated using the straight – line method, ensuring that the asset’s value is evenly written off over its entire useful life:

The amortization expenses of intangible assets are recognized in the statements of pro t (loss) and other comprehensive income under the

cost of sales, selling (expenses), general and administrative (expenses).

Intangible assets with inde nite lives are not amortized, but are tested for impairment annually, either individually or at the cash – generating

unit level. The assessment of inde nite life is reviewed annually to determine whether inde nite life continues to be supportable. If not, the

change in useful life from inde nite to nite is made on a prospective basis.

Goodwill is initially measured at cost being the excess of the aggregate of the consideration transferred and the amount recognized for non –

controlling interest over the net identi able assets acquired and liabilities assumed. If this consideration is lower than the fair value of the net

assets of the subsidiary acquired, the difference is recognized in the statements of pro t (loss) and other comprehensive income under the

other income.

2. Material

accounting policies

2.2. Principles of

consolidation

2.3. Investments into

associates, joint ventures

and subsidiaries

2.4. Intangible assets and

goodwill

Software	3 – 10 years
Licenses	3 – 20 years
Other intangible assets	4 – 15 years

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

2. Material accounting policies/continued

2.4. Intangible assets and goodwill/continued

After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing, goodwill

acquired in a business combination is, from the acquisition date, allocated to each of the Group’s cash – generating units that are expected to

bene t from the combination, irrespective of whether other assets or liabilities of the acquiree are assigned to those units.

Impairment of goodwill is recognized in the statements of pro t (loss) and other comprehensive income under other (expenses). The

assessment of goodwill impairment is detailed in Note 2.20.

2.5. Property, plant and equipment

Property, plant and equipment are stated at cost less accumulated depreciation and impairment losses.

Subsequent expenditures are added to the carrying amount of the asset or recognized as a separate asset only if it is probable that the

Company and the Group will derive economic bene ts from the asset and the cost of the asset can be reliably measured. All other expenses,

such as repairs and maintenance, incurred after the long – term tangible asset is ready for use according to its intended use, are generally

recognized in the pro t (loss) and other comprehensive income statement in the period in which they are incurred.

Depreciation is computed on a straight – line basis over the following useful lives:

Depreciation expenses for property, plant and equipment are accounted for in the statements of pro t (loss) and other comprehensive income

as part of the cost of sales, selling (expenses), general and administrative (expenses) and other (expenses). Additionally, depreciation expenses

of property, plant and equipment directly related to the biological assets are included in the cost of biological assets, which are subsequently

measured at fair value.

The useful lives, residual values and depreciation method are reviewed periodically to ensure that they are consistent with the expected pattern

of economic bene ts from items in property, plant and equipment.

If the carrying amount of an asset exceeds its recoverable amount, the carrying amount is reduced to the recoverable amount. Impairment of

property, plant and equipment is reviewed each reporting period (Note 2.20). Impairment and impairment reversals of assets during the year

are accounted for in the statements of profit (loss) and other comprehensive income under the general and administrative (expenses) .

An item of property, plant and equipment is derecognized upon disposal or when no future economic bene ts are expected from its use or

disposal. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying

amount of the asset) is included in the statements of pro t (loss) and other comprehensive income under the other income (expenses) in the

year the asset is derecognized.

Construction in progress is stated at cost. This includes the cost of construction, plant and equipment and other directly attributable costs.

Construction in progress is not depreciated until the relevant assets are completed and ready for the intended use .

Borrowing costs that are directly attributable to the acquisition, construction or production of an item of property, plant and equipment where

substantial period of time is necessary to get ready the asset for its intended use, are capitalized as part of cost of the asset. When the period

is shorter than 12 months, borrowing costs are recognized as expenses in the statements of pro t (loss) and other comprehensive income

under the (expenses) from nancial activity .

2. Material

accounting policies

2.5. Property, plant and

equipment

Buildings and structures	5 – 80 years
Machinery and equipment	2 – 25 years
Vehicles	1 – 25 years
Other property, plant and equipment	1 – 99 years

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

2. Material accounting policies/continued

2.6. Financial assets (except for derivative financial instruments designated as hedging instruments)

Financial assets initial recognition and measurement

Financial assets are classi ed, at initial recognition, as subsequently measured at amortized cost, fair value through other comprehensive

income (OCI), and fair value through pro t (loss).

The classi cation of nancial assets at initial recognition depends on the nancial asset’s contractual cash flow characteristics and the both

Company’s and Group’s business model for managing them. Trade receivables that do not contain a signi cant nancing component are

measured at the transaction price determined under IFRS 15.

In order for a nancial asset to be classi ed and measured at amortized cost or fair value through OCI, it needs to give rise to cash flows that

are ‘solely payments of principal and interest (SPPI)’ on the principal amount outstanding. This assessment is referred to as the SPPI test and

is performed at an instrument level.

The both Company’s and Group’s business model for managing nancial assets refers to how the Group and Company manages its nancial

assets in order to generate cash flows. The business model determines whether cash flows will result from collecting contractual cash flows,

selling the nancial assets, or both.

Financial assets subsequent measurement

After initial recognition, the Group measures a nancial asset at:

 Amortized cost (debt instruments).

 Fair value through OCI with recycling of cumulative gains and losses upon derecognition (debt instruments). As at 30 June 2025

the Group had a hedging instruments (commitments to purchase gas and grains). For additional information see Note 13.

 Fair value through OCI with no recycling of cumulative gains and losses upon derecognition (equity instruments).

 Fair value through pro t or loss.

Financial assets at amortized cost are subsequently measured using the effective interest (EIR) method and are subject to impairment. Gains

and losses are recognized in the statements of pro t (loss) and other comprehensive income when the asset is derecognized, modi ed or

impaired.

The Group’s nancial assets at amortized cost includes trade receivables, cash and its equivalents, other current and non – current receivables,

loans granted.

For current trade receivables that do not have a signi cant nancing component, the Group applies a simpli ed approach as required by

IFRS 9 and accounts for impairment losses against lifetime credit losses from the initial recognition of the receivables. The Group management’s

decision regarding individual assessment is made taking into account the availability of information on a speci c borrower’s credit history and

nancial position as of the assessment date, including forward – looking information that would allow identi cation of a signi cant increase in

credit risk of that borrower, thereby enabling management to decide on the recognition of lifetime credit losses in respect of that particular

borrower.

The Group generally considers a trade receivables to be in default when contractual payments are more than 90 days past due. However, in

certain operating segments, based on customary business practices and contractual arrangements with customers, default may be assessed

at a later stage (e.g. 180 days past due), provided that the Group still expects to recover the outstanding amounts. In addition, a nancial asset

is also considered to be in default when there is objective evidence, based on internal or external information, that the Group is unlikely to

receive the outstanding contractual amounts in full, irrespective of the past due status. A nancial asset is written off when there is no reasonable

expectation of recovering the contractual cash flows.

The principles of nancial asset impairment assessment and accounting are presented in Notes 2.20, 7, 11, 12 .

2. Material

accounting policies

2.6. Financial assets

(except for derivative

financial instruments

designated as hedging

instruments)

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

2. Material accounting policies/continued

2.7. Financial liabilities and supplier/customer financing agreements

Financial liabilities initial recognition and measurement

Financial liabilities are classi ed, at initial recognition, as nancial liabilities at fair value through pro t or loss, loans and borrowings and

payables. All nancial liabilities are recognized initially at fair value and, in the case of loans and borrowings and payables, net of directly

attributable transaction costs.

The Company’s and Group’s nancial liabilities include trade and other payables, loans and borrowings including bank overdrafts, derivatives,

and lease liabilities.

Subsequent measurement

The measurement of nancial liabilities depends on their classi cation, as described below:

 Financial liabilities at fair value through pro t or loss

Financial liabilities are classi ed as held for trading if they are incurred for the purpose of repurchasing in the near term. This category also

includes derivative nancial instruments entered by the Group that are not designated as hedging instruments in hedge relationships as de ned

by IFRS 9. Gains or losses on liabilities held for trading are recognized in the statement of comprehensive income. The Group has not

designated any nancial liabilities as at fair value through the statements of pro t (loss) and other comprehensive income during the years

ended 30 June 2024 and 2025.

After initial recognition, loans, borrowings and other payables are subsequently measured at amortized cost using the EIR method. Gains and

losses are recognized in the statements of pro t (loss) and other comprehensive income when the liabilities are derecognized as well as

through the EIR amortization process.

 Financial liabilities at amortized cost

This is the category most relevant to the Group and The Company. Amortized cost is calculated by taking into account any discount or premium

on acquisition and fees or costs that are an integral part of the EIR. The EIR amortization is included as nance costs in the statements of pro t

(loss) and other comprehensive income.

 Supplier Financing Arrangement

The Group presents liabilities that are part of a reverse factoring arrangement as part of trade payables or borrowings when those liabilities

have a similar nature and function to trade payables or borrowings. However, these liabilities are presented separately when the size, nature or

function of those liabilities makes separate presentation relevant to an understanding of the Group’s nancial position. In assessing whether it

is required to present such liabilities separately, the Group considers the amounts, nature and timing of those liabilities. In the separate and

consolidated statement of nancial position, the Group’s liabilities under the supplier nancing arrangements are presented under the trade

payables or borrowings based on the nature. Cash flows related to liabilities arising from supplier nance arrangements that are classi ed in

trade and other payables in the consolidated statement of nancial position are included in operating activities in the consolidated statement

of cash flows whereas cash flows related to liabilities arising from supplier nance arrangements that are classi ed in borrowings in the

consolidated statement of nancial position are included in the consolidated statement of cash flows within nancing activities.

 Customer Financing Arrangement (Factoring)

The Group’s companies alienate rights to receivables due at a future date according to invoices. Factoring transactions of the Group comprise

factoring transactions with and without regress right. The factoring expenses comprise a lump – sum contract fee charged on the conclusion

of the contract, commission fees charged for processing the invoices, and interest expenses depending on the duration on the payment term

set by the debtor. Customer nancing arrangement (factoring) is accounted at amortized cost .

2. Material

accounting policies

2.7. Financial liabilities and

supplier/customer financing

arrangements

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

2. Material accounting policies/continued

2.8. Derecognition of financial assets and liabilities

Financial assets

A nancial asset (or, where applicable a part of a nancial asset or part of a group of similar nancial assets) is derecognized when:

 the rights to receive cash flows from the asset have expired;

 the Group retains the right to receive cash flows from the asset, but has assumed an obligation to pay them in full without material

delay to a third party under a ‘pass through’ arrangement; or

 the Group has transferred its rights to receive cash flows from the asset and either:

(a) has transferred substantially all the risks and rewards of the asset, or

(b) has neither transferred nor retained substantially all the risks and rewards of the asset but has transferred control of

the asset.

When the Group has transferred its rights to receive cash flows from an asset and has neither transferred nor retained substantially all the risks

and rewards of the asset nor transferred control of the asset, the asset is recognized to the extent of the Group’s continuing involvement in the

asset. Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original carrying

amount of the asset and the maximum amount of consideration that the Group could be required to repay.

Financial liabilities

The nancial liability is derecognized when it is settled, extinguished, or reaches its maturity .

2.9. Inventories

Inventories are valued at the lower of cost and net realizable value, after impairment evaluation for obsolete and slow – moving items. Cost of

raw materials that are segregated for speci c projects is determined using speci c identi cation method; cost of other inventory is determined

by the rst – in, rst – out (FIFO) method. The cost of nished goods and work in progress includes the applicable allocation of xed and

variable overhead costs based on a normal operating capacity. Unrealizable inventory has been fully written off.

Under inventories caption the Group also accounts for commitments to purchase agricultural produce (the change in the fair value of the rm

commitment).

2.10. Cash and cash equivalents

Cash includes cash on hand and cash in bank accounts. For the purposes of the cash flows statement, cash and cash equivalents comprise

cash on hand and in current bank accounts as well as deposits in bank with original term of 3 months or less.

Restricted cash held as a deposit for trading in the futures exchange is accounted as other current nancial assets.

2. Material

accounting policies

2.8. Derecognition of

financial assets and liabilities

2.9. Inventories

2.10. Cash and cash

equivalents

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

2. Material accounting policies/continued

2.11. Biological assets

The Group’s biological assets include animals and livestock, poultry, and crops.

Animals and livestock are accounted for at fair value less costs to sell. The fair value of milking cows is measured using discounted cash flows

method (level 3). Other livestock is measured at comparable market prices (level 2).

Poultry is accounted for at fair value less costs to sell. The fair value of poultry is measured based on future value of chickens/meat broilers/eggs

less costs to maintain (level 3).

Crops are accounted for at fair value less costs to sell. The fair value of crops is measured at comparable market prices based on expected

yield (level 3).

Agricultural produce harvested from an entity’s biological assets is measured at its fair value less estimated costs to sell at the point of harvest.

The measured value of the harvested yield is then considered to be the cost of inventories.

As at 30 June 2025 and 30 June 2024, the management of the Group treats all animals and livestock (excluding eggs and broilers) as non –

current assets and all crops, eggs and broilers as current.

All changes in fair value of biological assets were accounted for under cost of sales caption in the statements of pro t (loss) and other

comprehensive income .

2.12. Derivative financial instruments and hedge accounting

The Group engages in derivative nancial instruments transactions, such as futures contracts, to hedge purchase and sale price fluctuation

risk and interest rate swaps to hedge cash flows fluctuation risk. On the agreement date and subsequently derivative nancial instruments are

accounted for at fair value. Fair value is derived from quoted market prices for futures (level 1) and using valuation models for interest rate

swaps (level 2 and 3). The estimated fair values of these contracts are reported in the statement of nancial position as assets for contracts

having a positive fair value and liabilities for contracts with a negative fair value. Gain or losses from changes in the fair value of derivative

nancial instruments are recognized in the statements of pro t (loss) and other comprehensive Income under the costs of sales.

Other derivatives not used for hedge accounting are also accounted for at fair value (level 2 and 3 as described in Note 2.20) with gains or

losses from changes in the fair value recognized in the statements of pro t (loss) and other comprehensive income under the other income

(expenses).

For the purposes of hedge accounting, hedges are classi ed into two categories: (a) fair value hedges which hedge the exposure to changes

in the fair value of a recognized asset or liability or an unrecognized rm commitment; and (b) cash flow hedges which hedge exposure to

variability in cash flows that is either attributable to a particular risk associated with a recognized asset or liability or a forecasted transaction.

The documentation includes identi cation of the hedging instrument, the hedged item, the nature of the risk being hedged and how the Group

will assess whether the hedging relationship meets the hedge effectiveness requirements (including the analysis of sources of hedge

ineffectiveness and how the hedge ratio is determined).

A hedging transactions quali es for hedge accounting, if it meets all the following effectiveness requirements:

 There is “an economic relationship” between the hedged item and the hedging instrument.

 The effect of credit risk does not ‘dominate the value changes’ that result from that economic relationship.

The hedging relationship ratio is the same as that calculated by comparing the amount of insured units with the amount of the hedging

instrument that the Group actually uses to insure the hedged items .

2. Material

accounting policies

2.11. Biological assets

2.12. Derivative financial

instruments and hedge

accounting

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

2. Material accounting policies/continued

2.12. Derivative financial instruments and hedge transactions/continued

Fair value hedges

In relation to fair value hedges, which meet the conditions for hedge accounting, any gains or losses from remeasuring the hedging instrument

to fair value is recognized immediately in the statement of pro t (loss). The hedged item is adjusted for fair value changes relating to the risk

being hedged and the difference is recognized as an asset or liability with a corresponding gain or loss recognized in the statements of pro t

(loss) and other comprehensive income under the cost of sales.

When an unrecognized rm commitment is designated as a hedged item, the subsequent cumulative change in the fair value of the rm

commitment attributable to the hedged risk is recognized as an asset or liability with a corresponding gain or loss recognized in the statements

of pro t (loss) and other comprehensive income under the cost of sales.

Any gains or losses arising from changes in the fair value of the hedging instruments, which do not qualify for hedge accounting, are taken

directly to the statementd of pro t (loss) and other comprehensive income under the other income (expenses).

Hedge accounting is discontinued when the hedging instrument expires or is sold, terminated, or exercised, or no longer quali es for hedge

accounting.

Cash flow hedges

In relation to cash flow hedges, which meet the conditions for hedge accounting, the portion of the gain or loss on the hedging instrument that

is determined to be an effective hedge is recognized initially in other comprehensive income and the ineffective portion is recognized in the

statement of pro t (loss) under other income (expenses). The gains or losses on effective cash flow hedges recognized initially in other

comprehensive income and are transferred to the equity in the period in which the hedged transaction impacts the statements of other

comprehensive income or included in the initial measurement of the cost of the related asset or liability.

For hedges, which do not qualify for hedge accounting, any gains or losses arising from changes in the fair value of the hedging instrument

are taken directly to the statements of pro t (loss).

Hedge accounting is discontinued when the hedging instrument expires or is sold, terminated, or exercised, or no longer quali es for hedge

accounting.

2.13. Right – of – use assets and lease liabilities

The determination of whether an arrangement is or contains a lease is based on the substance of the Group arrangement at inception date of

whether the ful lment of the arrangement is dependent on the use of a speci c asset or assets, or the arrangement conveys a right to use the

asset.

The Group and the Company applies a single recognition and measurement approach for all leases, except for short – term leases and leases

of low – value assets. The Group and the Company recognize lease liabilities to make lease payments and right – of – use assets representing

the right to use the underlying assets.

Right – of – use assets

The commencement date (i.e., the date from which the underlying asset is put into use) is when the Company and the Group recognize the

right – of – use asset. At the commencement date, the Group and the Company measures the right – of – use asset at cost.

After initial recognition under the cost model, the Group and the Company measures a right – of – use asset at cost less any depreciation and

any accumulated impairment losses and adjusted for any remeasurement of the lease liability .

2. Material

accounting policies

2.13. Right – of – use assets

and lease liabilities

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

2. Material accounting policies/continued

2.13. Right – of – assets and lease liabilities/continued

The right – of – use assets are depreciated under the depreciation requirements of IAS 16, Property, Plant and Equipment. If, under the lease

agreement, ownership of the leased asset transfers to the Company and the Group at the end of the lease term or the cost reflects the exercise

of a purchase option, the Group and the Company depreciates the right – of – use asset from the commencement date to the end of the useful

life of the right – of – use asset.

Depreciation expenses for right – of – use assets are accounted for in the statements of pro t (loss) and other comprehensive income as part

of the cost of sales, selling (expenses), general and administrative (expenses) and other (expenses).

Additionally, depreciation expenses of right-of-use assets are included in the carrying amount of biological assets, which are subsequently

measured at fair value.

Lease liabilities

At the commencement date, the Group and the Company measure the lease liabilities at the present value of lease payments that are not paid

at that date. The lease payments are discounted using the interest rate implicit in the lease if that rate can be readily determined. If that rate

cannot be readily determined, the Group and the Company use the incremental borrowing rate.

After the commencement date, a lessee measures the lease liability by increasing the carrying value to reflect interest on the lease liability;

reducing the carrying value to reflect the lease payments made; and remeasuring the carrying value to reflect any reassessment or lease

modi cations, or to reflect revised in – substance xed lease payments.

After the commencement date, the Group and the Company recognize in pro t or loss, unless the costs are included in the carrying value of

another asset applying other applicable Standards: interest on the lease liability; and variable lease payments not included in the measurement

of the lease liability in the period in which the event or condition that triggers those payments occurs.

After the commencement date, the lease liability is remeasured to reflect changes to the lease payments. The Group and the Company

recognize the amount of the remeasurement of the lease liability as an adjustment to the right – of – use asset. However, if the carrying value

of the right – of – use asset is reduced to zero and there is a further reduction in the measurement of the lease liability, a lessee shall recognize

any remaining amount of the remeasurement in pro t or loss.

The Group and the Company reassess the lease liability by discounting the revised lease payments using an updated discount rate if the lease

term changes.

The Group and the Company present lease liabilities separately from other liabilities in the statement of nancial position. Interest expenses

on the lease liability are presented separately from the depreciation charge for the right – of – use asset. Interest expense on the lease liability

is a component of expenses on nancing activities, which is presented in the statements of pro t (loss) and other comprehensive income.

Short – term and low – value lease

The Group and the Company apply the short – term lease recognition exemption to its short – term leases of machinery and equipment (i.e.,

those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). They also apply

low – value asset lease recognition exemption to of ce equipment that are considered to be low value .

2. Material

accounting policies

Land	4 – 99 years
Buildings and structures	5 – 65 years
Machinery and equipment	2 – 25 years
Vehicles	1 – 12 years
Other rights – of – use assets	1 – 30 years

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

2. Material accounting policies/continued

2.13. Right – of – assets and lease liabilities/continued

Group as a lessor

At inception or on modi cation of a contract that contains a lease component, the Group allocates the consideration in the contract to each

lease component on the basis of their relative standalone prices.

When the Group acts as a lessor, it determines at lease inception whether each lease is a nance lease or an operating lease.

When the Group is an intermediate lessor, it accounts for its lease and sublease components separately. It assesses the classi cation of the

sublease based on the right – of – use asset arising from the head lease, rather than the underlying asset. If the head lease is a short – term

lease to which the Group applies the above – mentioned exemption, then it classi es the sublease as an operating lease.

If an arrangement contains lease and non – lease components, then the Group applies IFRS 15 to allocate the consideration in the contract.

Assets leased out under operating leases are included in property, plant and equipment and investment property in the statement of nancial

position. They are depreciated over their expected useful lives on a basis consistent with similar property, plant and equipment of the Group.

Rental income is recognized on a straight – line basis over the lease term .

Sublease accounting

The Group may enter into sublease agreements as an intermediate lessor. Subleases are classi ed with reference to the right-of-use asset

arising from the head lease, rather than with reference to the underlying asset. A sublease is classi ed as a nance lease if it transfers

substantially all the risks and rewards associated with the right-of-use asset; otherwise, it is classi ed as an operating lease. For nance

subleases, a lease receivable is recognised and the right-of-use asset is derecognised. For operating subleases, the right-of-use asset

continues to be depreciated and lease income is recognised on a straight-line basis over the lease term.

2.14. Non – current employee benefits

Share – based payments

Employees of the Group and Company receive remuneration in the form of share – based payments, whereby employees render services as

consideration for equity instruments (equity – settled transactions). As further described in Note 29, employees of the Group are granted share

options.

Equity – settled transactions

The cost of equity – settled transactions is determined by the fair value of the award when the grant is made using an appropriate valuation

model, further details of which are given in Note 29.

That cost is to be recognized in employee bene ts expense, together with a corresponding increase in equity (other capital reserves), over the

period in which the service conditions are ful lled (the vesting period). The cumulative expense recognized for equity – settled transactions at

each reporting date until the vesting date reflects the extent to which the vesting period has expired and the Company’s and Group’s best

estimate of the number of equity instruments that will ultimately vest. The expense or credit in the statements of pro t (loss) and other

comprehensive income for a period represents the movement in cumulative expense recognized as at the beginning and end of that period.

The Group does have only service conditions, that requires the counterparty to complete a speci ed period of service during which services

are provided to the Company. Any service conditions are not reflected in the grant – date fair value of the share – based payment. Instead, an

estimate is made of the number of equity instruments for which the service conditions are expected to be satis ed.

The dilutive effect of outstanding options is reflected as additional share dilution in the computation of diluted earnings per share (Note 29) .

2. Material

accounting policies

2.14. Non – current

employee benefits

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

2. Material accounting policies/continued

2.15. Income tax

The Group companies are taxed individually, irrespective of the overall results of the Group. Income tax charge is based on pro t for the year

and considers deferred taxation. The charge for taxation included in these nancial statements is based on the calculation made by the

management in accordance with tax legislation of the Republic of Lithuania and respective countries, where the Group companies are

registered.

Current tax comprises the expected tax payable or receivable on the taxable income or loss for the year and any adjustment to the tax payable

or receivable in respect of previous years. The amount of current tax payable or receivable is the best estimate of the tax amount expected to

be paid or received that reflects uncertainty related to income taxes, if any. It is measured using tax rates enacted or substantively enacted at

the reporting date.

In the year ended 30 June 2025 and 30 June 2024, the standard income tax rate for the Group companies operating in Lithuania was – 15%.

For companies operating in Lithuania tax losses can be carried forward for inde nite period, except for the losses incurred as a result of

disposal of securities and/or derivative nancial instruments not designated for hedging. The transferable tax loss cannot cover more than 70%

of the taxable pro t of the current year. Such carrying forward is disrupted if the company changes its activities due to which these losses were

incurred except when the company does not continue its activities due to reasons which do not depend on the company itself.

The losses from disposal of securities and/or derivative nancial instruments not designated for hedge (as described in Note 13) can be carried

forward for 5 consecutive years and only be used to reduce the taxable income earned from the transactions of the same nature. For companies

operating in Latvia and Denmark tax losses can be carried forward for inde nite period.

Income tax for the foreign subsidiaries is accounted for according to tax legislation of those foreign countries. The standard income tax rates

in the foreign countries are as follows:

		Financial year ended
	30/06/2025	30/06/2024
Republic of Latvia 1	–	–
Republic of Estonia 2	–	–
Kingdom of Denmark	22%	22%
Ukraine	18%	18%
Republic of Belarus	20%	20%

Deferred taxes are calculated using the balance sheet liability method using 16% tax rate for the Companies which operates in Republic of

Lithuania. Deferred taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for nancial

reporting purposes and the amounts used for income tax purposes.

Deferred tax assets and liabilities are measured using the tax rates expected to apply to taxable income in the years in which those temporary

differences are expected to be recovered or settled, based on tax rates enacted or substantially enacted at the reporting date. In preparing

these nancial statements, the Group considered the impact of changes in tax legislation in the Republic of Lithuania.

From 1 July 2026, the corporate income tax rate applicable to Group companies operating in Lithuania will increase from 16% to 17%. The

Group has assessed the implications of this change on the measurement of deferred tax assets and liabilities. Based on this assessment, the

effect of the change in tax rate was determined to be insigni cant.

In Latvia, effective from 1st January 2018 Under the Corporate Income Tax Law, corporate income tax is payable at the time when profit is distributed. As a result, the taxable base comprises distributed profits

and notional distributed profits. Resident companies are subject to tax at a rate of 20% on the gross taxable amount. The net taxable base (distributed profits and notional distributed profits) is divided by

coefficient of 0.8 when determining the gross taxable base for the tax period.

In Estonia, the taxation of profit of operating subsidiaries is deferred until the profit appropriation moment, i.e. payment of dividends. The dividends paid by the Group’s companies in Estonia are taxed at the

withholding tax rate of 22% as at 30 June 2025 (20% as at 30 June 2024) .

2. Material

accounting policies

2.15. Income tax

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

2. Material accounting policies/continued

2.15 Income – tax/continued

Deferred tax assets have been recognized in the statement of nancial position to the extent the management believes they will be realized in

the foreseeable future, based on taxable pro t forecasts. If it is believed that part of the deferred tax is not going to be realized, this part of the

deferred tax asset is not recognized in the nancial statements .

2.16. Revenue recognition

Revenue from sales of grain, feedstuff, fertilizers, seeds, agricultural production and other food products

Revenue from contracts with customers is recognized at a point in time when control of the goods (grain, feedstuff, fertilizers, seeds, agricultural

production and cattle, milk and poultry food products) is transferred to the customer at an amount that reflects the consideration to which the

Group expects to be entitled in exchange for those goods. The Group has concluded that it is the principal in its revenue arrangements, except

for Neuss/Spyck contracts described in Note 2.20, because:

 The Group controls the goods before transferring them to the customer;

 The Group is primarily responsible for goods supply and bears risk of non – performance;

 The Group has latitude in establishing price either directly or indirectly.

Where the Group has signed master framework agreements with the clients, majority of such contracts are not enforceable on their own without

a speci c purchase order. Every purchase order generally represents a contract with the customer in these cases, and each contract includes

a single performance obligation.

The Group considers whether there are other promises in the contract that are separate performance obligations to which a portion of the

transaction price needs to be allocated (e.g. warranties, transportation, storage). Generally, the Group’s contracts do not include such promises.

If the consideration in a contract includes a variable amount, the Group estimates the amount of consideration to which it will be entitled in

exchange for transferring the goods to the customer. The variable consideration is estimated at contract inception and constrained until it is

highly probable that signi cant revenue reversal will not occur when the associated uncertainty is resolved. Some contracts for the sale of

equipment provide customers with a right of return which gives rise to variable consideration. For goods that are expected to be returned,

instead of revenue, the Group recognizes a refund liability. A right of return asset (and corresponding adjustment to cost of sales) is also

recognized for the right to recover the goods from a customer.

Revenue from sales of machinery and equipment

In some contracts, the Group not only transfers control of an equipment to a customer, but also grants the customer the right to return the

product for various reasons after the use of the term. An asset recognized for the Group's right to recover the equipment from a customer on

settling a refund liability shall initially be measured by reference to the former carrying amount of the equipment less any expected costs to

recover those products (including potential impairment of returned products to the Group). At the end of each reporting period, the Group

updates the measurement of the asset arising from changes in expectations about products to be returned. The Group presents the asset

separately from the refund liability, under captions: Inventories (Note 9) and Other non–current liabilities (Note 21).

2. Material

accounting policies

2.16. Revenue recognition

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

2. Material accounting policies/continued

2.16. Revenue recognition/continued

Revenue from customer long – term project contracts

Performance obligations arising from the project contracts with customers (for example to install grain storage facilities) are ful lled over time

and respectively the revenue is recognized over time if any of the following criteria are met: (a) the customer simultaneously receives and

consumes the bene ts provided by the Group’s performance as the Group performs; (b) the Group’s performance creates or enhances an

asset that the customer controls as the asset is created or enhanced; or (c) the Group’s performance does not create an asset with an alternative

use and the Group has an enforceable right to payment for performance completed to date. If the Group can reasonably measure its progress

towards complete satisfaction of the performance obligation, the Group recognizes revenue and expenses in relation to each contract over

time, based on the progress of performance.

The progress of performance is assessed based on the proportion of the costs incurred in ful lling the contract up to date over to the total

estimated costs of the contract. Group uses an input method in measuring progress because there is a direct relationship between the Group’s

effort (i.e., based on the labour hours incurred, and materials used) and the output produced which provides a faithful depiction. When the

Group is not be able to reasonably measure the outcome of a performance obligation (for example, in the early stages of a contract), but the

Group expects to recover the costs incurred in satisfying the performance obligation, the Group recognizes revenue only to the extent of the

costs incurred until such. When it is determined that the costs of the contract are expected to exceed the revenue, the entire estimated loss

amount is recognized in the statements of pro t (loss) and other comprehensive income.

Contract modi cation (scope or price, or both) is accounted for as a separate contract with customer, if the scope of the contract increases

because of the addition of promised goods or services that are distinct and the price of the contract increases by an amount of consideration

that reflects the Group’s stand – alone selling prices of the additional promised goods or services in the circumstances of the particular

contract. Otherwise, the contract modi cation is accounted as (a) termination of the existing contract and the creation of a new contract, if the

remaining goods or services are distinct from the goods or services transferred on or before the date of the contract modi cation or (b) part

of the existing contract if the remaining goods or services are not distinct and, therefore, form part of a single performance obligation that is

partially satis ed at the date of the contract modi cation.

The effect that the contract modi cation has on the transaction price, and on the Group’s measure of progress towards complete satisfaction

of the performance obligation, is recognized as an adjustment to revenue (either as an increase in or a reduction of revenue) at the date of the

contract modi cation.

Provisions for loss making contracts are recognized when the Group has a present obligation (legal or constructive) to complete the

construction contract for the third party for the price that is lower than the total estimated cost to perform the contract as of the date of the

nancial statements. The difference (loss) between the contract price and the total estimated cost of delivery under the contract is recognized

in the statement pro t (loss) and other comprehensive income.

When ful lling the contracts, the Group can receive short – term prepayments from its customers. Applying the practical expedient, the Group

is not adjusting the price allocation by the nancing component, if at the inception of the contract it is expected that the time period from the

customer payment for goods/services till the delivery of these goods/services will not exceed one year.

In addition, the Group applied the practical expedient and did not disclose the aggregate amount of the transaction price allocated to the

performance obligations that are unsatis ed (or partially unsatis ed) as of the end of the reporting period because each performance obligation

is part of a contract that has an original expected duration of one year or less.

The Company recognizes management fee revenue over the period during which the services are provided, as the customer simultaneously

receives the bene ts of those services. Revenue is recognized based on a measure of progress method towards satisfaction of the performance

obligation, which most reliably reflects the nature of the service provision .

2. Material

accounting policies

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

2. Material accounting policies/continued

2.16. Revenue recognition/continued

Other income

Other occasional revenue from the sale property, plant or equipment is recognized at a point in time, when sold items are delivered to client

and control is transferred.

Dividend income is recognized when the right to receive payment is established.

Under other income caption grants related to income for agricultural activity are recognized. The income – related grants are recognized as

used in parts to the extent of the expenses incurred during the reporting period or unearned income to be compensated by that grant.

In addition, the management considers the effect of other matters to the revenue recognition such as the existence of signi cant nancing

components, non – cash consideration, consideration payable to the customer and warranties. None of these are present in the Group’s

contracts with the customers, except of what is being disclosed further.

The Group’s companies also purchase marketing services from its customers. Based on agreements marketing related services acquired from

customers (retailers) do not represent distinct services related to various advertising and marketing activities provided to the Group’s

Companies, and therefore all such marketing expenses incurred over the nancial period are accounted as revenue reduction in the Group’s

statement of pro t (loss) and other comprehensive income under the revenue from contracts with customers.

Contract assets – accrued revenue

A contract asset is the right to consideration in exchange for goods or services transferred to the customer. If the Group performs by transferring

goods or services to a customer before the customer pays consideration or before payment is due, a contract asset is recognized for the

earned consideration that is conditional.

Trade receivables

A trade receivable represents the Group’s right to an amount of consideration that is unconditional (i.e., only the passage of time is required

before payment of the consideration is due). Refer to accounting policies of nancial assets, Note 2.6.

Contract liabilities

A contract liability is the obligation to transfer goods or services to a customer for which the Group has received consideration (or an amount

of consideration is due) from the customer. If a customer pays consideration before the Group transfers goods or services to the customer, a

contract liability is recognized when the payment is made. Contract liabilities are recognized as revenue when the Group performs under the

contract.

2.17. Impairment of non – financial assets

The Group assesses at each reporting date whether there is an indication that a non – nancial asset may be impaired. If any such indication

exists, or when annual impairment testing for an asset is required (e.g. goodwill), the Group estimates the asset’s recoverable amount. The non

– nancial assets recoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely

independent of those from other assets or groups of assets. Impairment losses are recognized in the statements of pro t (loss) and other

comprehensive income in those expense categories consistent with the function of the impaired asset.

For non – nancial assets excluding goodwill, an assessment is made at each reporting date as to whether there is any indication that previously

recognized impairment losses may no longer exist or may have decreased. If such indication exists, the Group makes an estimate of recoverable

amount. A previously recognized impairment loss is reversed only if there has been a change in the estimates used to determine the asset’s

recoverable amount since the last impairment loss was recognized .

2. Material

accounting policies

2.17. Impairment of non –

financial assets

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

2. Material accounting policies/continued

2.18. Fair value measurement

All assets and liabilities for which fair value is measured or disclosed in the nancial statements are categorized within the fair value hierarchy,

described as follows, based on the lowest level input that is signi cant to the fair value measurement as a whole:

 Level 1 – Quoted (unadjusted) market prices in active markets for identical assets or liabilities.

 Level 2 – Valuation techniques for which the lowest level input that is signi cant to the fair value measurement is directly or indirectly

observable.

 Level 3 – Valuation techniques for which the lowest level input that is signi cant to the fair value measurement is unobservable.

For assets and liabilities that are recognized in the nancial statements on a recurring basis, the Group determine whether transfers have

occurred between levels in the hierarchy by re – assessing categorization (based on the lowest level input that is signi cant to the fair value

measurement as a whole) at the end of each reporting period.

Valuations are performed by the Group’s management at each reporting date. For the purpose of fair value disclosures, the Group and the

Company have determined classes of assets and liabilities based on the nature, characteristics and risks of asset or liability and the level of

the fair value hierarchy as explained above.

2.19. Provisions

A provision is recorded if and only if the Group has a valid obligation (legal or constructive) as a result of a past event, and it is probable that

resources providing economic bene ts will be required to settle it, and the amount of the obligation can be reliably estimated. Provisions are

reviewed each reporting date and adjusted to reflect the most accurate current estimate. More detailed valuation and types of provisions are

disclosed in Note 19.

2.20. Use of significant accounting judgments and estimates in the preparation of financial statements

The preparation of nancial statements in conformity with International Financial Reporting Standards requires management to make

judgments, estimates and assumptions that affect the reported amounts of assets, liabilities, income and expenses and disclosure of

contingencies.

Significant accounting judgments

The signi cant areas of judgment used in the preparation of these nancial statements are described as follows:

Pillar Two taxes judgment

Group’s management exercised judgement in determining whether the top-up tax enacted under the Pillar Two rules meets the de nition of

an income tax under IAS 12. In forming this view, management considered the design and intent of the tax, its basis of calculation, and the

extent to which it is determined by reference to taxable pro ts. Based on this assessment, it was concluded that the top-up tax is within the

scope of IAS 12 and should be accounted for as an income tax. Accordingly, top-up taxes under the OECD/G20 BEPS Pillar Two Model Rules

are recognised as current income tax expense in the period incurred and presented separately in the income tax note (Note 28), with no

deferred taxes recognised in accordance with IAS 12.

Principal versus agent assessment

The Group determined that, as a general it acts as the principal in providing goods and services because:

 controls goods and services before they are delivered to the customer;

 is responsible for the overall execution of the contract with the client and is at risk of default;

 has a choice of price setting.

2. Material

accounting policies

2.18. Fair value measurement

2.19. Provisions

2.20. Use of significant

accounting judgments and

estimates in the preparation

of financial statements

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

2. Material accounting policies/continued

2.20. Use of significant accounting judgments and estimates in the preparation of financial statements/continued

Accounting for trading contracts

Within grains and oilseeds as well as feedstuffs segments, the Group’s activity is an agricultural goods intermediary (buying and selling different

types of grain, oilseeds, rapeseed, etc.). The Group buys and sells agricultural goods at a xed price for a speci ed delivery period in the

future. The terms of the Group’s contracts permit net settlement; however, in practice, contracts result in physical delivery, except for rapeseed

extraction delivered on term FOB Neuss/Spyck. The Group acts as an intermediary by entering into purchase and sales contracts with

producers and users of the agricultural goods, creating links within the value chain for the agricultural goods for a stable customer base, making

pro ts from a distributor margin rather than from fluctuations in price or a broker traders’ margin. As a result, the Group’s purchases and sales

contracts are entered into in accordance with the expected purchase and sale requirements and, therefore, have not been accounted for as

derivatives within the scope of IFRS 9, except for those contracts which are hedged (Note 2.12) and contracts concluded on terms FOB

Neuss/Spyck which are usually net cash settled.

Receivables from agricultural produce growers and payments on agricultural produce growers’ behalf

Within its agricultural inputs segment, the Group is engaged in selling fertilizers and plant protection products to agricultural produce growers

as well as pays on behalf of agricultural produce growers to suppliers of seeds or directly pays to agricultural produce growers (Notes 10

and 11). The balances arising from these transactions are non – interest bearing and are generally settled within 120 – 360 days by delivering

grain to the Group. These transactions constitute common arrangements in the industry, they are entered into between distributors and

agricultural produce growers under similar terms, and usual settlement is by delivery of grain, as opposed to an unconditional right to receive

cash. Trade receivables arising on sales of fertilizers and plant protection products are presented within trade receivables caption in the

statement of nancial position, while payments on behalf of agricultural produce growers, which do not derive from sales transactions, are

presented as prepayments in the statement of nancial position.

Significant accounting estimates

The signi cant areas of estimation used in the preparation of these nancial statements relate to depreciation and amortization (Notes 2.4, 2.5,

4, 5), fair value estimation of biological assets (Notes 2.11 and 8), impairment evaluation (Notes 2.17, 4, 5, 6, 7, 9, 10, 11, 12), estimation of fair

value of assets acquired and liabilities assumed in business combinations (Note 3), assessment of net realizable value of inventories (Note 2.9

and Note 9), assessment of provision for onerous contracts (Note 2.20), assessment of fair value of derivatives (Note 13) and assessment of

fair value of share based payments (Note 29). Future events may occur which will cause the assumptions used in arriving at the estimates to

change. The effect of any changes in estimates will be recorded in the nancial statements, when determinable.

The key assumptions concerning the future, and other key sources of estimation uncertainty at the reporting date, that have a signi cant risk

of causing a material adjustment to the carrying amounts of assets and liabilities within the next nancial year, are discussed further.

Impact of Tariff Risks and Trade Policy Changes on the Group's Operations

During the reporting period, the Group assessed the potential impact of trade policy uncertainty, including possible introduction or increases

of tariffs in various jurisdictions. Management’s assessment indicated that the main exposure arises in segments dependent on imported raw

materials, components, and supply chain stability. In these areas, indirect cost fluctuations were observed, primarily reflecting global market

price volatility and expectations of potential trade restrictions. Such cost increases were managed through indexation mechanisms and pricing

adjustments, thereby avoiding any material impact on pro tability or cash flows.

In segments operating predominantly within Lithuania and the European Union, no direct impact from tariff or trade policy developments was

identi ed. Local supply chains and cost structures remained stable, and contractual terms were not materially affected.

Management concluded that, at present, trade policy and tariff uncertainty has not had a material effect on accounting estimates, assumptions,

or the application of accounting policies related to asset impairment, measurement of contractual obligations, or liquidity risk. The Group

continues to monitor developments in the global trade environment and remains prepared to take appropriate measures to safeguard business

continuity and the reliable preparation of nancial statements in accordance with IFRS requirements.

2. Material

accounting policies

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

2. Material accounting policies/continued

2.20. Use of significant accounting judgments and estimates in the preparation of financial statements / continued

Valuation of biological assets

As at 30 June 2025 and 30 June 2024, the Group did not have an independent appraisal of its biological assets. According to IFRS, such assets

must be recorded at fair value. Biological assets mostly consist of three groups: animals and livestock, poultry and crops which are accounted

for at fair value less costs to sell (Note 2.11).

The fair value of biological assets of the Group is determined on a recurring basis. The management determines key assumptions based on

historical gures and the best estimate as at the reporting date. Applied unobservable assumptions are challenged on a regular basis and

adjusted after back testing is performed. Other observable inputs used are based on publicly available sources (prices in the market). The

management of the Group constantly analyses the changes in fair value and assesses what has the biggest influence on it – quantity produced,

sales prices and etc.

Animals and livestock are valued in two ways: milking cows are valued using discounted cash flows method less costs to sell (level 3) and other

groups of livestock at market prices less cost to sell at the reporting date (level 2). Crops are valued at market prices based on expected yield

less costs to sell at the reporting date (level 3).

Poultry are valued in the following way: hatching chicken are valued based on the future value of the produced eggs less costs to maintain the

chicken until end of its production period, slaughter costs as well as costs to sell at the reporting date (level 3). Meat broilers are valued based

on average age of the chicken and its respective market value between the value range of day one and value at the moment of slaughtering

the chicken (level 3).

• Milking cows

The Group's management estimates the fair value of dairy cows using the discounted cash flow method because there is no active and reliable

market for this type of cattle and this valuation method is the most accurate estimate of the fair value of dairy cows.

As at 30 June 2025, the main assumptions used to determine the fair value of the dairy cows are the expected selling prices of milk over the

useful life of the dairy cow used to calculate the future net revenue streams (for the years ending 30 June 2026 and 30 June 2027: EUR 0.500

and EUR 0.500, respectively), which have been determined on the basis of publicly available mid – market prices and the pre – tax discount

rate before income tax (7.20%).

As at 30 June 2024, the main assumptions used to determine the fair value of the dairy cows are the expected selling prices of milk over the

useful life of the dairy cow used to calculate the future net revenue streams (for the years ending 30 June 2025 and 30 June 2026: EUR 0.427

and EUR 0.427, respectively), which have been determined on the basis of publicly available mid – market prices and the pre – tax discount

rate before income tax (8.96%).

The following table demonstrates the sensitivity of the fair value of milking cows to a reasonably possible change in key assumptions and its

effect on pro t or loss. There is no effect to other comprehensive income.

2. Material

accounting policies

		30/ 0 6/2025		30/ 0 6/2024
	Possible change	Effect on fair value	Possible change	Effect on fair value
Milk price	+ 15%	1,529	+ 15%	969
Milk price	– 15%	(1,529)	– 15%	(969)
Discount rate	+ 1 p.p.	(148)	+ 1 p.p.	(97)
Discount rate	– 1 p.p.	150	– 1 p.p.	99

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

2. Material accounting policies/continued

2.20. Use of significant accounting judgments and estimates in the preparation of financial statements / continued

• Crops

As at 30 June 2025 and 2024, the key assumptions used to determine fair value of crops are the estimated yield ranges depending on the type

of crops (2.40– 10.6 tons/ha for grain cultures and 60 – 65 tons/ha for beet cultures for the year ending 30 June 2025 and 2.48– 10.0 tons/ha

for grain cultures and 60 – 70 tones/ha for beet cultures for the year ending 30 June 2024) and the expected sales price, which was based on

the estimated future grain, oilseeds and beet cultures sales price of the deliveries taking place September – December of the respective year.

The following table demonstrates the sensitivity of the fair value of crops to a reasonably possible change in key assumptions and its effect on

pro t or loss. There is no effect to other comprehensive income.

		30/ 0 6/2025		30/ 0 6/2024
	Possible change	Effect on fair value	Possible change	Effect on fair value
Yield	+ 5 %.	876	+ 5 %.	905
Yield	– 5%.	(876)	– 5%.	(905)
Price	+ 5 %.	691	+ 5 %.	905
Price	– 5%.	(691)	– 5%.	(905)

• Poultry

As at 30 June 2025 and 30 June 2024, the main assumptions used to determine fair value of hatching chicken are the price of the incubation

eggs (EUR 0.35 for the unit; EUR 0.24 – 0.32 for the unit in previous nancial year) which was estimated based on publicly available yearly

average market price and the average number of hatching eggs produced per hatching chicken in the lifetime 170.8 units for nancial year

(179 units – previous nancial year).

The following table demonstrates the sensitivity of the fair value of hatching chickens to a reasonably possible change in key assumptions and

its effect on pro t or loss. There is no effect to other comprehensive income.

		30/ 0 6/2025		30/ 0 6/2024 1
	Possible change	Effect on fair value	Possible change	Effect on fair value
Number of eggs per lifecycle/price	+ 5 %.	558	+ 5 %.	225
of eggs
Number of eggs per lifecycle/price	– 5%.	(558)	– 5%.	(225)
of eggs

As at 30 June 2025, the main assumptions used to determine fair value of broilers are the market price of chickens from EUR 0.416 to EUR

0.42 for 1 day old and EUR 2.04 for 36 days old and EUR 1.09 for 37.7 days and 38.2 days old (from EUR 0.45 to EUR 0.57 for 1 day old and

EUR 1.60 for 36 days old and EUR 1.59 for 38 days old as at 30 June 2024) which was estimated based on actual purchases/sales taking place

close to the 30 June 2025 and broiler weight from 2.45 to 2.48 kg as at 37.7 days old and 38.2 days old respectively (as at 30 June 2024 –

from 2.28 to 2.48 kg as at 36 days old and 38 days old).

Comparative information has been restated to better reflect the model’s sensitivity to changes in key assumptions .

2. Material

accounting policies

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

2. Material accounting policies/continued

2.20. Use of significant accounting judgments and estimates in the preparation of financial statements / continued

The following table demonstrates the sensitivity of the fair value of broilers to a reasonably possible change in key assumptions and its effect

on pro t or loss. There is no effect to other comprehensive income:

		30/ 0 6/2025		30/ 0 6/2024 1
	Possible change	Effect on fair value	Possible change	Effect on fair value
Weight	+ 5 %	(474)	+ 5 %	(374)
Weight	– 5%	471	– 5%	388
Price	+ 5 %	94	+ 5 %	76
Price	– 5%	(94)	– 5%	(100)

Impairment of property, plant and equipment (excluding land)

The Group makes an assessment, at least annually, whether there are any indications that property, plant and equipment have suffered

impairment. If that is the case, the Group makes an impairment test. The recoverable amount of cash – generating units (CGU) is determined

based on value in use calculations that use a discounted cash flow model. The cash flows are derived from the forecast for the next ve years

and do not include restructuring activities that the Group is not yet committed to or signi cant future investments that will enhance the asset

base of the cash – generating unit being tested.

As at 30 June 2025 and 30 June 2024, there were no reasonably possible changes in the key assumptions which would cause the carrying

amount of property, plant and equipment to exceed its recoverable amount, except for the already impaired assets.

Impairment of land (accounted for as property, plant and equipment and investment property)

The Group makes an assessment, at least annually, whether there are any indications that land accounted for as property, plant and equipment

and investment property has suffered impairment. If that is the case, the Group makes an impairment test. The recoverable amount of land is

determined as fair value less cost to sell based on comparable market prices for similar land provided by independent valuators.

As at 30 June 2025 and 30 June 2024, there were no reasonably possible changes in the key assumptions which would cause the carrying

amount of land to exceed its recoverable amount, except for the already impaired assets.

Comparative information has been restated to better reflect the model’s sensitivity to changes in key assumptions.

2. Material

accounting policies

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

2. Material accounting policies/continued

2.20. Use of significant accounting judgments and estimates in the preparation of financial statements / continued

Impairment of the Company’s investments in subsidiaries and loans granted

As at 30 June 2025 and 30 June 2024, the Company has investments in subsidiaries and associates. The Company makes an assessment, at

least annually, whether there are any indications that investments in subsidiaries and associates have suffered impairment.

As at 30 June 2025, the recoverable amount of cash – generating unit (CGU), comprising investments into and loans granted to UAB Dotnuva

Baltic, was determined based on the value in use calculations that use a discounted cash flow model. Carrying amount of the Company’s

investments and loans amounts to EUR 27,618 thousand as at 30 June 2025.

The cash flows are derived from the forecast for the next ve years and a terminal value which was calculated with a terminal growth of 2%.

As at 30 June 2025, the recoverable amount of the investment into subsidiary UAB Dotnuva Baltic is most sensitive to the pre-tax discount rate

of 10,62 % which is used for the discounted cash flow model. As at 30 June 2025, there were no reasonably possible changes in the key

assumptions which would cause the carrying amount of the investment into UAB Dotnuva Baltic to exceed its recoverable amount.

As at 30 June 2024 the recoverable amount of UAB Dotnuva Baltic comprising investments into and loans granted to the subsidiary, was

determined based on the value in use calculations that use a discounted cash flow model. Carrying amount of the Company’s investments and

loans amounts to EUR 25,618 thousand as at 30 June 2024. The cash flows are derived from the forecast for the next ve years and a terminal

value which was calculated with a terminal growth of 2 %. As at 30 June 2024, the recoverable amount of the investment into subsidiary UAB

Dotnuva Baltic is most sensitive to the pre-tax discount rate of 9.62 % which is used for the discounted cash flow model.

The following table demonstrates the sensitivity of the recoverable amount of CGU to a reasonably possible change in key assumptions and

its effect on pro t or loss. There is no effect to other comprehensive income.

		30/06/2025		30/06/2024
	Possible change	Possible impairment	Possible change	Possible impairment
Discount rate	+ 1 p.p.	–	+ 1 p.p.	(2,853)
Terminal growth rate	– 1%	–	– 1%	(1,466)

As at 30 June 2025 the subsidiary AS Kekava Foods did not have any impairment indications, thus impairment test was not performed.

As at 30 June 2024 the recoverable amount of Latvian poultry business cash generating unit (CGU), comprising investments into and loans

granted to AS Kekava Foods, was determined based on the value in use calculations that use a discounted cash flow model. Carrying value of

the Company’s investments and loans amounts to EUR 18,995 thousand as at 30 June 2024. The above-mentioned subsidiary was assessed

as one cash generating unit. Cash generating unit was determined to be all entity operating in poultry business in a speci c geographical

location (Latvia). The cash flows are derived from the forecast for the next ve years and a terminal value which was calculated with a terminal

growth of 2%. As at 30 June 2024, the recoverable amount of the investment into subsidiaries AS Kekava Foods is most sensitive to the pre-

tax discount rate of 8.62 % which is used for the discounted cash flow model. As at 30 June 2024, there were no reasonably possible changes

in the key assumptions which would cause the carrying amount of the investment into AS Kekava Foods to exceed its recoverable amount.

As at 30 June 2025 the subsidiaries AB Vilniaus Paukštynas and AB Kaišiadorių Paukštynas did not have any impairment indications, thus

impairment tests were not performed.

As at 30 June 2024 the recoverable amount of business cash generating unit (CGU), comprising investment into and loans granted to

AB Zelvė was determined based on the value in use calculations that use a discounted cash flow model. The carrying value of these investment

and loans amounts to EUR 363 thousand as at 30 June 2024. Cash flows were calculated using a 5-year forecast and a terminal value, which

was determined using a 2 % growth rate. As at 30 June 2024, the recoverable amount of the investment into subsidiary is most sensitive to the

pre-tax discount rate of 8.42 % which is used for the discounted cash flow model. As at 30 June 2024, there were no reasonably possible

changes in the key assumptions which would cause the carrying amount of the investment into the subsidiary AB Zelve to exceed its

recoverable amount.

2. Material

accounting policies

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

2. Material accounting policies/continued

2.20. Use of significant accounting judgments and estimates in the preparation of financial statements / continued

The recoverable amount of the cash-generating unit (CGU), comprising the investment in the associate UAB OMG Bubble Tea and the loans

granted to it, was determined based on a value-in-use calculation using a discounted cash flow model. The carrying amount of the investment

and loans as at 30 June 2025 was EUR 3,850 thousand.

The cash flows were projected based on a ve-year forecast and a terminal value, which was determined applying a terminal growth rate of

2%. As at 30 June 2025, the recoverable amount of the investment in UAB OMG Bubble Tea was most sensitive to the pre-tax discount rate of

35.96 % applied in the discounted cash flow model.

The following table demonstrates the sensitivity of the recoverable amount of CGU to a reasonably possible change in key assumptions and

its effect on pro t or loss. There is no effect to other comprehensive income.

		30/ 0 6/2025
	Possible change	Possible impairment
Discount rate	+ 5 p.p.	(886)
Revenue growth rate	– 5%	(3,124)

As at 30 June 2025, the Company recognized a EUR 1,600 thousand impairment of its investment in UAB Agro logistic Service based on

identi ed impairment indicators. The liquidation process of UAB Agro logistic Service was initiated in the 2024/2025 nancial year, and

therefore, no asset impairment test was performed. The impairment was fully accounted for the total investment, assessing the net asset value

expected to be recovered upon the completion of the liquidation process.

As at 30 June 2024, the Company recognised an impairment loss of EUR 950 thousand on its investment in UAB Kormoprom Invest, based on

identi ed impairment indicators. During the 2023/2024 nancial year, the liquidation process of UAB Kormoprom Invest was initiated, and

therefore, a recoverable amount test was not performed. The impairment was recognised in full against the carrying amount of the investment,

taking into account the portion of net assets expected to be recovered upon completion of the liquidation process.

There were no indications of impairment of investments in other subsidiaries, except for the ones described above.

2. Material

accounting policies

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

2. Material accounting policies/continued

2.20. Use of significant accounting judgments and estimates in the preparation of financial statements / continued

Impairment of goodwill

As at 20 April 2016 the amount of EUR 1,971 thousand goodwill was recognized upon the acquisition of a company in Partners for farmers

segment. This goodwill was assigned to a cash – generating unit associated with the fertilizer trade in Latvia. As at 30 June 2017 an impairment

of EUR 1,121 thousand was accounted in the statement of pro t (loss) and other comprehensive income (Note 5).

The Group performed its annual impairment test as at 30 June 2025 and 30 June 2024. The tests showed that there is an impairment related

to goodwill arising from acquisition of a company in Partners for farmers segment, which was caused by signi cant changes in market

conditions. As at 30 June 2024 there was no need for additional impairment of goodwill.

As at 30 June 2025, the recoverable amount of cash – generating unit (CGU), comprising assets in use related to the Company in Partners for

farmers segment, was determined based on the value in use calculations using a discounted cash flow model. Carrying amount of the CGU

including goodwill was EUR 10,215 thousand as at 30 June 2025. As at 30 June 2025 Group recognized an additional EUR 850 thousand

goodwill impairment which was accounted in the statement of pro t (loss) and other comprehensive income.

The recoverable amount of mentioned cash – generating unit was determined based on the value in use calculations that use a discounted

cash flow model. The cash flows are derived from the forecast for the next ve years. The impairment test was performed using the following

key assumptions:

The following table demonstrates the sensitivity of the recoverable amount of CGU to a reasonably possible change in key assumptions and

its effect on profit or loss. There is no effect to other comprehensive income.

		30/ 0 6/2025
	Possible change	Possible impairment
Discount rate	+ 1 p.p.	(1,902)
Terminal growth rate	– 1%	(1,677)

As at 21 July 2023 the amount of EUR 3,358 thousand goodwill was recognized upon the acquisition of a Company in Food segment. This

goodwill was assigned to a cash–generating unit associated with food production in Lithuania.

The Group performed its annual impairment test as at 30 June 2025. The test showed that there is an impairment related to goodwill arising

from acquisition of a company in Food segment, which was caused by signi cant changes in market conditions.

As at 30 June 2025, the recoverable amount of cash – generating unit (CGU), comprising assets in use related to a Company in Food segment,

was determined based on the value in use calculations that use a discounted cash flow model. Carrying amount of the CGU including goodwill

was EUR 17,724 thousand as at 30 June 2025. Group recognized an EUR 1,400 thousand goodwill impairment, which were accounted under

the statements of pro t (loss) and other comprehensive income.

2. Material

accounting policies

Partners for farmers assumptions:	30/ 0 6/2025	30/ 0 6/2024
Discount rate	12.54%	10.16%
Terminal growth rate	2%	2%

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

2. Material accounting policies/continued

2.20. Use of significant accounting judgments and estimates in the preparation of financial statements / continued

The recoverable amount of mentioned cash–generating unit was determined based on the value in use calculations that use a discounted cash

flow model. The cash flows are derived from the forecast for the next ve years. The impairment test was performed using the following key

assumptions:

The following table demonstrates the sensitivity of the recoverable amount of CGU to a reasonably possible change in key assumptions and

its effect on profit or loss. There is no effect to other comprehensive income.

		30/ 0 6/2025
	Possible change	Possible impairment
Discount rate	+ 1 p.p.	(2,700)
Terminal growth rate	– 1%	(2,246)

During the current nancial year, the Group acquired two cash-generating units (see Note 3). The newly recognised goodwill was tested for

impairment prior to year-end, and no impairment related to goodwill arising was identi ed. Both cash-generating units generated pro ts, and

the gross pro t margin as well as the EBITDA margin achieved in the subsequent period were consistent with the planned ratios.

Assessment of inventories net realizable value

The management of the Group makes estimates and assumptions in order to value inventories at lower of cost or net realizable value. The

main factors incorporated in management assessment of inventories net realizable value are the follows:

 ageing of inventories,

 subsequent sales prices,

 signed contracts to sell,

 market prices.

Future events may occur which will cause the assumptions to change. The effect of any changes in estimates will be recorded in the nancial

statements, when determinable .

2. Material

accounting policies

Food segment assumptions:	30/06/2025
Discount rate	14.15%
Terminal growth rate	2%

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

2. Material accounting policies/continued

2.20. Use of significant accounting judgments and estimates in the preparation of financial statements/continued

Trade receivables allowance

The determination as to whether a trade receivable is collectable involves management judgment and signi cant estimates. Speci c factors

management considers, when determining if allowance for trade receivable must be accounted for are as follows:

 age of the balance,

 location of customers,

 existence of collateral,

 recent historical payment patterns as well as data on subsequent collections,

 forward looking estimates (expected inflation rate, GDP or etc.).

Future events may occur which will cause the assumptions to change. The effect of any changes in estimates will be recorded in the nancial

statements, when determinable.

2.21. Offsetting and comparative figures

When preparing the nancial statements, assets, and liabilities, as well as revenue and expenses are not set off, except for the cases when

certain IFRS speci cally requires or allows such set – off. Where necessary, comparative gures have been adjusted to reflect the presentation

changes for the current year.

2. Material

accounting policies

2.21. Offsetting and

comparative figures

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

3. Group structure and changes within the Group

As at 30 June 2025 and as at 30 June 2024, the Company held these directly and indirectly controlled subsidiaries (hereinafter the Group):

Investments in Company’s subsidiaries

			Effective ownership interest held	Cost of investment in the
	Place of		by Group, %	Company		Main activities
	registration
	30/06/2025		30/06/2024	30/06/2025	30/06/2024
AB Linas Agro	Lithuania	97.79%	97.78%	109,710	109,709	Wholesale trade of grains and oilseeds, feedstuffs and agricultural inputs
UAB Akola Farming	Lithuania	100.00%	100.00%	9,384	9,384	Management of the subsidiaries engaged in agriculture
UAB Dotnuva Baltic	Lithuania	100.00%	100.00%	10,618	10,618	Trade in agricultural machinery, equipment for grain elevators and farms
UAB Landvesta 1	Lithuania	100.00%	100.00%	1,967	1,967	Rent and management of agricultural purposes land
UAB Landvesta 2	Lithuania	100.00%	100.00%	793	793	Rent and management of agricultural purposes land
UAB Landvesta 3	Lithuania	100.00%	100.00%	636	636	Rent and management of agricultural purposes land
UAB Landvesta 4	Lithuania	100.00%	100.00%	1,136	1,136	Rent and management of agricultural purposes land
UAB Landvesta 5	Lithuania	100.00%	100.00%	1,570	1,570	Rent and management of agricultural purposes land
UAB Landvesta 6	Lithuania	100.00%	100.00%	1,004	1,004	Rent and management of agricultural purposes land
UAB Noreikiškės	Lithuania	100.00%	100.00%	765	765	Rent and management of agricultural purposes land
UAB Lineliai	Lithuania	100.00%	100.00%	714	714	Rent and management of agricultural purposes land
AS Kekava Foods	Latvia	97.67%	97.58%	12,870	12,861	Broiler breeding, slaughtering and sale of products, feedstuffs
UAB Akola Poultry	Lithuania	100.00%	100.00%	19	9	Dormant company
UAB Kormoprom Invest (Liquidated) 1	Lithuania	–	100.00%	–	1,081	Management services
UAB Akola Foods	Lithuania	100.00%	100.00%	62,693	62,693	Management services
AB Vilniaus Paukštynas	Lithuania	85.02%	85.02%	6,775	6,776	Chicken raising for meat and eggs production, production of poultry and its
						products
UAB Agro Logistic Service	Lithuania	100.00%	100.00%	1,716	1,716	Wholesale of feedstuffs for fodder and premixes production
UAB Sunvesta 2	Lithuania	–	100.00%	–	6	Dormant company
	Investment in subsidiaries at acquisition costs			222,370	223,438
	(Less) impairment			(1,600)	(950)
	Investment in subsidiaries			220,770	222,488

As of 30 June 2025, the Group’s borrowings are secured by a pledge of shares in certain subsidiaries and associates. The carrying amount

of the pledged shares amounted to EUR 74,276 thousand (as at 30 June 2024 – EUR 24,527 thousand).

As at 10 December 2024 UAB Kormoprom Invest removed from the Register of Legal Entities after liquidation.

As at 12 August 2024 The Company sold shares of UAB Sunvesta.

3. Group structure

and changes within

the Group

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

3. Group structure and changes within the Group/continued

Investments in Company’s associates and joint ventures

			Effective ownership interest held	Cost of investment in the
	Place of		by Group, %	Company		Main activities
	registration
		30/06/2025	30/06/2024	30/06/2025	30/06/2024
SIA Linas Agro	Latvia	97.27%	97.26%	–	–	Wholesale trade of grains and oilseeds, agricultural inputs
UAB Gerera (Liquidated) 1	Lithuania	–	97.78%	–	–	Dormant company
UAB Linas Agro Grūdų Centrai	Lithuania	97.79%	97.78%	–	–	Preparation and warehousing of grains for trade
UAB Jungtinė Ekspedicija	Lithuania	97.79%	97.78%	–	–	Expedition and ship’s agency services
Linas Agro A/S (Under liquidation)	Denmark	97.79%	97.78%	–	–	Dormant company
LLC LINAS AGRO UKRAINE	Ukraine	97.79%	97.78%	–	–	Representative office
Linas Agro OU	Estonia	97.79%	97.78%	–	–	Supply of products for crop growing
SIA PFK Trader	Latvia	97.67%	97.58%	–	–	Retail trade of food production
Medeikių ŽŪB 2	Lithuania	98.39%	98.39%	–	–	Growing and sale of crops
Lukšių ŽŪB 3	Lithuania	98.82%	98.82%	–	–	Mixed agricultural activities
Aukštadvario ŽŪB 4	Lithuania	99.54%	99.54%	–	–	Mixed agricultural activities
Sidabravo ŽŪB 5	Lithuania	96.25%	96.25%	–	–	Mixed agricultural activities
Labūnavos ŽŪB 6	Lithuania	98.95%	98.95%	–	–	Mixed agricultural activities
UAB Užupė	Lithuania	100.00%	100.00%	–	1	Rent and management of agricultural purposes land
UAB „Paberžėlė“	Lithuania	100.00%	100.00%	–	–	Rent and management of agricultural purposes land
Žibartonių ŽŪB 7	Lithuania	99.90%	99.90%	1	1	Mixed agricultural activities
SIA Dotnuva Baltic	Latvia	100.00%	100.00%	–	–	Trade in agricultural machinery and equipment for grain elevators
AS Dotnuva Baltic	Estonia	100.00%	100.00%	–	–	Trade in agricultural machinery and equipment for grain elevators
SIA Dotnuva Seeds	Latvia	97.79%	97.78%	–	–	Certified seeds production
UAB Dotnuva Seeds	Lithuania	97.79%	97.78%	–	–	Certified seeds production
UAB GeoFace	Lithuania	97.79%	97.78%	–	–	Software development
UAB Dotnuva Rent	Lithuania	100.00%	100.00%	–	–	Rent of agricultural machinery and equipment
SIA Linas Agro Graudu Centrs	Latvia	97.60%	97.78%	–	–	Preparation and warehousing of grains
Nemuno ūkis ŽŪB 8	Lithuania	67.98%	67.98%	–	–	Mixed agricultural activities
UAB Šlaituva 9	Lithuania	89.62%	89.59%	–	–	Production and wholesale of breadcrumbs and breading mixes
UAB Baltic Fumigation Service	Lithuania	89.62%	89.59%	–	–	Disinsection, deratization, fumigation services
UAB KG Mažmena	Lithuania	89.62%	89.59%	–	–	Retail trade
AB Zelvė	Lithuania	67.38%	72.38%	–	363	Broiler breeding
UAB Avocetė (Under liquidation) 10	Lithuania	85.02%	85.02%	–	–	Management services
AB Kauno Grūdai	Lithuania	89.62%	89.59%	–	–	Production and wholesale of flour and flour products, compound feed, extruded
						products, and instant foods; disinsection, disinfection and deratization services

As at 2 July 2024 UAB “Gerera” removed from the Register of Legal Entities after liquidation;

On April 2025 the name of the company has been changed to Medeikių ŽŪB instead of Biržų Rajono Medeikių Žemės Ūkio Bendrovė;

On April 2025 the name of the company has been changed to Lukšių ŽŪB instead of Šakių Rajono Lukšių Žemės Ūkio Bendrovė

On April 2025 the name of the company has been changed to Aukštadvario ŽŪB instead of Panevėžio Rajono Aukštadvario Žemės Ūkio Bendrovė.

On April 2025 the name of the company has been changed to Sidabravo ŽŪB instead of Sidabravo Žemės Ūkio Bendrovė;

On April 2025 the name of the company has been changed to Labūnavos ŽŪB instead of Kėdainių Rajono Labūnavos Žemės Ūkio Bendrovė;

On April 2025 the name of the company has been changed to Žibartonių ŽŪB instead of Panevėžio Rajono Žibartonių Žemės Ūkio Bendrovė;

On April 2025 the name of the company has been changed to Nemuno Ūkis ŽŪB instead of Kėdainių Rajono Žemės Ūkio Bendrovė „Nemunas“

As at 5 February 2025 UAB Šlaituva was converted into AB Šlaituva.

On 30 May 2025 the liquation has been initiated of UAB Avocete

3. Group structure

and changes within

the Group

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

3. Group structure and changes within the Group/continued

Investments in Company’s associates and joint ventures

	Place of		Effective ownership interest held	by Group, %	Cost of investment in the	Company	Main activities
registration
		30/06/2025	30/06/2024		30/06/2025	30/06/2024
UAB Lietbro	Lithuania		85.02%	85.02%	–	–	Broiler breeding
KB Baltoji Plunksnelė (Liquidated) 1	Lithuania		–	83.45%	–	–	Dormant company
AB Kaišiadorių Paukštynas	Lithuania		85.33%	85.31%	2,458	2,458	Chicken raising for meat and eggs production, production of poultry and its
							products
UAB Domantonių Paukštynas	Lithuania		85.06%	89.51%	–	–	Broiler breeding
UAB Kaišiadorių Paukštyno Mažmena	Lithuania		–	85.31%	–	–	Dormant company
(Liquidated) 2
UAB Uogintai (Liquidated) 3	Lithuania		–	85.31%	–	–	Dormant company
UAB Alesninkų Paukštynas	Lithuania		85.33%	85.31%	–	–	Broiler breeding
UAB VP Valda	Lithuania		85.02%	85.02%	–	–	Rent of real estate
UAB KP Valda	Lithuania		85.33%	85.31%	–	–	Rent of real estate
SIA KG Latvija	Latvia		89.62%	89.59%	–	–	Production and wholesale of compound feed, wholesale of feed materials and
							products for crop growing
KG Eesti OÜ	Estonia		89.62%	89.59%	–	–	Dormant company
KG Polska Sp.zo.o.	Polska		89.62%	89.59%	–	–	Wholesale of feed materials
The United
Nordic Agro Investment Limited			89.62%	89.59%	–	–	Management services
	Kingdom
OOO KLM	Belarus		62.73%	62.72%	–	–	Wholesale of products for crop growing veterinary products, premixes, and seeds
							for gardening
SIA KEKAVA BIOENERGY	Latvia		97.67%	97.58%	–	–	Dormant company
AB Grybai LT 4	Lithuania		89.62%	89.59%	–	–	Production of canned vegetables and mushrooms, ready-to-eat soups, and other
							ecological food products
SIA LABIBAS SARGS 5	Latvia		89.62%	–	–	–	Disinsection, deratization, fumigation services
Other investments in associated Companies					3,600	1,652
Investment in associates and joint ventures at acquisition cost					6,059	4,475
(Less) impairment					–	(202)
Investment in associates and joint ventures					6,059	4,273

As at 12 May 2025 KB Baltoji Plunksnelė removed from the Register of Legal Entities after liquidation

As at 21 March 2025 UAB Kaišiadorių Paukštyno Mažmena removed from the Register of Legal Entities after liquidation

As at 17 June 2025 UAB Uogintai removed from the Register of Legal Entities after liquidation;

As at 5 February 2025 UAB Grybai was converted into AB Grybai LT.

As at 20 December 2024 the Group’s company UAB Baltic Fumigation service acquired a subsidiary SIA LABIBAS SARGS.

3. Group structure

and changes within

the Group

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

3. Group structure and changes within the Group/continued

The Group has both associates and joint ventures that are accounted for using the equity method in the consolidated nancial statements and

are not individually material.

As at 30 June 2025 Group had direct and indirect investments in these associates:

 UAB OMG Bubble Tea (Lithuania);

 BRITE DRINKS LTD group (The United Kingdom):

 UAB Productivity House (Lithuania);

 ARJS Holding Ltd (The United Kingdom).

As at 30 June 2024 Group had direct and indirect investments in these associates and joint ventures:

 UAB OMG Bubble Tea (Lithuania)

 BRITE DRINKS LTD group (The United Kingdom):

 UAB Productivity House (Lithuania);

 ARJS Holding Ltd. (The United Kingdom);

 KG Khumex B.V. (The Kingdom of the Netherlands);

 KG Khumex Coldsore B.V. (The Kingdom of the Netherlands).

To determine whether the investment in the company is an associate company, the Group estimates both the effective ownership interest and

other signi cant influence exerted.

If the Group holds less than 20% of effective ownership interest, but determines that the Group exerts a signi cant influence on the company

through the Group's representative's participation in the company's board over the decisions making related to the company’s activities, the

Group considers an investment as an associated company and accounts it by the equity method.

In the nancial year 2024/2025, the Group disposed its investments in the associates and joint venture KG Khumex B.V. and KG Khumex

Coldsore B.V. At the date of disposal, the carrying amount of these investments was EUR 0, as they had been fully impaired in earlier nancial

years by EUR 202 thousand. The Group had accumulated losses of EUR 90 thousand, which were not recognised as the Group had not

assumed any obligations.

The following table contains a summary of the aggregated income statement data and aggregated carrying amounts of the associates and joint

venture accounted for using the equity method:

		Associates		Joint ventures
	30/06/2025	30/06/2024	30/06/2025	30/06/2024
Profit (loss) for the year (continuing operations)	(2,999)	357	–	182
Other comprehensive income	–	–	–	–
Total comprehensive income	(2,999)	357	–	182
Group’s share of profit for the year
Share of total comprehensive income after income taxes	(638)	13	–	90
Carrying amount as of 30 June 2025	2,975	1,464	–	–

As at 30 June 2025 the Group did not recognise any impairment for the associated companies. As at 30 June 2024, the associated and joint

venture companies as KG Khumex B.V. and KG Khumex Coldstore were fully impaired of amount EUR 202 thousand.

The associates and joint ventures had no contingent liabilities, capital commitments or restrictions on ability to transfer funds as at 30 June

2025 and 30 June 2024.

The Group did not have any unrecognised share of pro t or loss of associates in the reporting period (as at 30 June 2024 – unrecognised loss

of EUR 90 thousand). As at 30 June 2025, the Group also did not have any accumulated unrecognised amount (as at 30 June 2024 –

EUR 114 thousand).

3. Group structure

and changes within

the Group

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

3. Group structure and changes within the Group/continued

Changes in the Group and the Company during the financial year ended 30 June 2025

02/07/2024 UAB Gerera was removed from the Register of Legal Entities after reorganization.

2024 July/

September

The Company transferred 50,000 of its own shares to employees of the Group under the Rules for Shares Issue.

01/08/2024 The shares of associates KG Khumex Coldstore B.V. and Khumex Holding B.V. have been sold.

12/08/2024 The Company sold shares of UAB Sunvesta.

2024 November/

December

The Company acquired shares in its subsidiary from non-

controlling shareholders for EUR 9 thousand. The difference of EUR (12)

thousand, between the consideration paid and the adjustment to the carrying amount of the non-controlling interest, was recognize

directly in equity and attributed to the owners of the parent. AB Akola Group increased its ownership in AS Kekava Foods by 0.09%.

19/11/2024

A restructurization of UAB Šlaituva and UAB Grybai LT to AB Šlaituva and AB Grybai LT was initiated.

10/12/2024

UAB Kormoprom Invest removed from the Register of Legal Entities after liquidation.

12/12/2024 The Company transferred 53,000 of its own shares to employees of the Group under the Rules for Shares Issue.

3. Group structure

and changes within

the Group

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

3. Group structure and changes within the Group/continued

Changes in the Group and the Company during the financial year ended 30 June 2025 /cont’d

17/12/2024

The Group acquired the effective share of the stock 9

27% of SIA Elagro Trade. Acquisition value

–

EUR 24,8

0 thousand. The

Group acquired controlling stakes in the company operating in the eld of grain, seed, plant protection and mineral fertiliz

products. The purpose of the company's acquisition is the signi cant synergies between the existing AB Akola Gr

oup companies in

expanding the “Partners for farmers” segment. The business combination is accounted for using the acquisition method. In this

acquisition, the non-controlling interest was valued proportionally to the identi ed net assets of the acquired entity.

At the acquisition of the subsidiary a goodwill of EUR 4,621

thousand has been accounted for. The goodwill appears due to synergies,

which are expected to be derived from vertical expansion of business. As at

30 June 2025, the Group's management had fully

completed the valuation of the acquired net assets.

At the acquisition date, the Group assumed total contractual receivables with a value of EUR 21,830 thousand. Based on the be

estimate, EUR 277 thousand was not expected to be collected. An adjustment related to sales under bill-and-

hold arrangements

amounting to EUR 833 thousand was also made. Accordingly, EUR 20,728 thousand of the fair value of non-

current receivables,

trade receivables and other current receivable amounts were recognised at the acquisition date.

Under the acquisition agreement, the purchase price includes a contingent consideration linked to the collection of acquired

receivables during a two-

year period after the closing. The nominal amount of the contingent consideration was EUR 1,667 thousand

nd was determined in accordance with the agreement, under which a portion of overdue receivables is considered part of the

purchase price only if collected. Payments to the sellers are made in quarterly instalments.

At the acquisition date, the contingent consideration was measured based on management’s assumption that approximately 78% of

the acquired receivables would be collected. This amount was discounted using a rate of 18.2% determined from market data. Th

recalculated present value EUR 1,037 thousand of the contingent consideration was included in the purchase price.

The Group’s consolidated statement of pro t or loss and other comprehensive income for the year ended 30 June 2025 includes

the revenues of the acquired entity since the acquisition date amounting to EUR 33,617 thousand and a net loss of

EUR 839 thousand.

Acquisition-

related costs incurred during the reporting period amounted to EUR 145 thousand and were recognised in the

consolidated statement of pro t or loss and other comprehensive income under general and administrative (expenses).

Purchase price allocation see below:

SIA Elagro Trade			Acquisition date for consolidation purposes 31 December 2024
	EUR‘000		EUR‘000
Fair value		Trade payables	(7,187)
Intangible assets	46	Wages and salaries and related liabilities	(461)
Property, plant and equipment	8,449	Other current liabilities	(558)
Right-of-use asset	618	Total liabilities	(26,608)
Non-current receivables	8	Total identifiable net assets at fair value:	20,807
Inventories	16,780	Non-controlling interest arising on acquisition of the subsidiary	(568)
Trade receivables	20,154	Goodwill arising on acquisition	4,621
Other accounts receivable	566
Cash and cash equivalents	794	Total purchase consideration	24,860
Total assets	47,415	Cash consideration transferred	23,823
Non-current borrowings and financial liabilities	(478)	Contingent consideration	1,037
Lease liability	(524)	Cash acquired	(794)
Provisions	(259)	Total purchase consideration, net of cash acquired	23,029
Current portion of non-current borrowings and current borrowings	(16,860)
Current portion of lease liabilities	(281)

3. Group structure

and changes within

the Group

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

3. Group structure and changes within the Group/continued

Changes in the Group and the Company during the financial year ended 30 June 2025 /cont’d

20/12/2024 The Company transferred 5,000 of its own shares to employees of the Group under the Rules for Shares Issue.

20/12/2024 The Group acquired the effective share of the stock 89.62% of SIA LABIBAS SARGS. Acquisition value –

EUR 100 thousand. The

Group acquired controlling stakes in the company operating in the eld of fumigation, deinsection, desinfection and degassin

services. The purpose of the company’s acquisition is the signi cant synergies between the existing AB Akola Group companies in

expanding the “Other products and services” segment. The business combination is accounted for using the acquisition method.

In this acquisition, the non-controlling interest was valued proportionally to the identi ed net assets of the acquired entity. Acquisition

costs were expensed, including them in the Group's administrative expenses.

At the acquisition of the subsidiary a goodwill of EUR 102 thousand has been accounted for. The goodwill appears due to syner

gies,

which are expected to be derived from vertical expansion of business. As at 30 June 2025 the Group's management had fully

completed the valuation of the acquired net assets.

SIA LABIBAS SARGS		Acquisition date for consolidation purposes 31 December 2024
	EUR‘000	EUR‘000
Fair value		Total identifiable net assets at fair value	(2)
Intangible assets	1	Non-controlling interest arising on acquisition of the subsidiary	–
Inventories	4	Goodwill arising on acquisition	102
Trade receivables	6	Cash consideration transferred	100
Other accounts receivable	2	Net of cash of acquiring the subsidiary
Cash and cash equivalents	1	Cash consideration transferred	100
Total assets	14	Cash acquired	(1)
Wages and salaries and related liabilities	(3)	Total purchase consideration, net of cash acquired	99
Other current liabilities	(13)
Total liabilities	(16)

27/

1/2025

Liquidation of UAB Kaišiadorių Paukštyno Mažmena was initiated.

31/01/2025 Liquidation of KB Baltoji Plunksnelė was initiated.

05/02/2025 UAB Šlaituva was converted into AB Šlaituva.

2/2025

UAB Grybai LT was converted into AB Grybai LT.

3/2025

Reorganization of AB Šlaituva and AB Grybai LT was initiated by merging them to AB Kauno Grūdai.

21/

3/2025

UAB Kaišiadorių Paukštyno Mažmena was deregistered from the Register of Legal Entities after liquidation.

25/

3/2025

Liquidation of UAB Uogintai was initiated.

31/03/2025 Reorganization of SIA Elagro Trade was initiated by merging it to SIA Linas Agro.

02/04/2025 AB Akola Group additionally invested EUR 2,150 thousand by increasing share capital of UAB OMG Bubble Tea.

3. Group structure

and changes within

the Group

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

3. Group structure and changes within the Group/continued

Changes in the Group and the Company during the financial year ended 30 June 2025 /cont’d

April 2025

Names of the companies were changed:

Nemuno Ūkis ŽŪB instead of Kėdainių Rajono Žemės Ūkio Bendrovė „Nemunas“;

Lukšių ŽŪB instead of Šakių Rajono Lukšių Žemės Ūkio Bendrovė;

Medeikių ŽŪB instead of Biržų Rajono Medeikių Žemės Ūkio Bendrovė;

Žibartonių ŽŪB instead of Panevėžio Rajono Žibartonių Žemės Ūkio Bendrovė;

Sidabravo ŽŪB instead of Sidabravo Žemės Ūkio Bendrovė;

Labūnavos ŽŪB instead of Kėdainių Rajono Labūnavos Žemės Ūkio Bendrovė;

Aukštadvario ŽŪB instead of Panevėžio Rajono Aukštadvario Žemės Ūkio Bendrovė.

12/

5/2025

KB Baltoji Plunksnelė was deregistered from the Register of Legal Entities after liquidation.

30/

5/2025

SIA Elagro Trade was merged to SIA Linas Agro.

30/05/2025 Liquidation of UAB Avocetė was initiated.

17/06/2025 UAB Uogintai was deregistered from the Register of Legal Entities after liquidation.

2025 June The Company transferred 7,000 of its own shares to employees of the Group under the Rules for Shares Issue.

2025 June

Agreements on shares of UAB Domantoniu Paukstynas and AB Zelve transfer were concluded inside the Group:

AB Kauno Grūdai transferred 203,689 shares of AB Zelvė to AB Vilniaus Paukštynas;

AB Kauno Grūdai transferred shares of UAB Domantonių Paukštynas respectively: 18,230 shares to AB Vilniaus Paukštynas and

1,860 shares to AB Kaišiadorių Paukštynas;

The Company transferred 41,072 shares of AB Zelvė to AB Vilniaus Paukštynas.

3. Group structure

and changes within

the Group

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

3. Group structure and changes within the Group/continued

Changes in the Group and the Company during the financial year ended 30 June 2024

07/07/2023

The Company transferred 3,000 units of own shares to the employees of the Group in accordance with AB Akola Group (former

AB Linas Agro Group) share allocation policy.

21/07/2023 The Group acquired the effective share of the stock 89.59% of UAB Grybai LT. Acquisition value –

EUR 12,789 thousand. The

Company acquired controlling stakes in the company operating in the eld of production of canned vegetables and mushrooms,

ready-to-e

at soups, and other ecological food products. The business combination is accounted for using the acquisition method.

In this acquisition, the non-controlling interest was valued proportionally to the identied net assets of the acquired entity.

Acquisition costs were expensed, including them in the Group's administrative expenses.

At the acquisition of the subsidiary a goodwill of EUR 3,358 thousand has been accounted for. The goodwill appears due to

synergies, which are expected to be derived from vertical expansion of business. As of 30 June 2024, the Group's management

has fully completed the valuation of the acquired net assets. The Group disclosed amounts of assets and liabilities.

Financial statements at the fair value are presented below.

UAB Grybai LT Acquisition date for consolidation purposes 31 July 2023

EUR‘000 EUR‘000

Fair value Trade payables (723)

Intangible assets 3,260 Prepayments received (13)

Property, plant and equipment 9,467 Wages and salaries and related liabilities (273)

Right-of-use assets 1,122 Total liabilities (7,229)

Inventories 1,542 Total identiable net assets at fair value 10,526

Trade receivables 2,214

Non-controlling interest arising on acquisition of the

subsidiary

(1,095)

Other accounts receivable 27 Goodwill arising on acquisition (Provisional) 3,358

Cash and cash equivalents 123 Cash consideration transferred 12,789

Total assets 17,755 Net of cash of acquiring the subsidiary

Non-current borrowings and nancial liabilities (9) Cash consideration transferred 12,789

Lease liability (352) Cash acquired (123)

Deferred tax liability (1,006) Total purchase consideration, net of cash acquired 12,666

Current borrowing (4,853)

3. Group structure

and changes within

the Group

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

3. Group structure and changes within the Group/continued

Changes in the Group and the Company during the financial year ended 30 June 2024 /cont’d

11/10/2023 UAB Sunvesta UAB is founded, following its separation from UAB Landvesta 1.

11/10/2023

The spin

off of UAB Landvesta 1 is completed and the new version of the Articles of Association of UAB Landvesta 1 is registered,

resulting in a reduction of capital by EUR 5,847.

26/10/2023

AB Akola Group (former AB Linas Agro Group) transferred the shares of UAB Linas Agro Grūdų Centrai, UAB Jungtinė Ekspedicija

and UAB Dotnuva Seeds to joint stock company Linas Agro pursuant to the share subscription agreement of AB Linas Agro.

05/12/2023

The names of the Group companies were changed: UAB Akola Farming instead of UAB Linas Agro Konsultacijos, UAB Akola Foods

instead of UAB TABA Holding and UAB Akola Foods instead of UAB Kekava Foods LT.

5/12/2023

The name of AB Linas Agro Group was changed to AB Akola Group.

5/12/2023

AB Akola Group (former AB Linas Agro Group) has increased the share capital of the Company from EUR 46,714 thousand up

to EUR 48,479 thousand, by issuing 6,084,548 new ordinary registered shares with the par value of EUR 0.29 and both issue pr

ice

of 691

,535 shares equal to EUR 0.705, and issue price of 5,393,013 shares equal to EUR 0,58, issued for the purpose of granting

shares of the Company free of charge to the employees and/or members of the Company’s corporate bodies.

The total issue price of all New Shares equals to EUR 3,615 thousand of which EUR 1,764 thousand shall be the nominal value o

the New Shares and EUR 1,851 thousand. shall be the share premium.

October 2023

–

June 2024

The Company bought subsidiary companies shares from non

controlling shareholders for an amount of EUR 57 thousand, the

difference of EUR (86) thousand, between the amounts transferred and the book value of the purchased part, was recognized in

equity. AB A

kola Group bought 0.39 % of AB Kaišiadorių Paukštynas shares AB Vilniaus Paukštynas shares of 0,09%, and 0,39%

shares of AS Kekava Foods.

11/

1/2024

The Company transferred 23,000 of its own shares to employees of the Group under AB Linas Agro Group Rules for Shares Issue.

26/01/2024 UAB Gastroneta removed from the Register of Legal Entities after liquidation.

01/02/2024 The reorganization in Latvia is nished, SIA Lielzeltini, SIA Cerova and SIA Broileks were merged to AS Kekava Foods (while

changing the name instead of AS Putnu Fabrika Kekava). Accordingly, the share capital of AS Kekava Foods increased by EUR

1,505 thousand.

3. Group structure

and changes within

the Group

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

3. Group structure and changes within the Group/continued

Changes in the Group and the Company during the financial year ended 30 June 2024 /cont’d

06/02/2024 UAB VKP valdymas removed from the Register of Legal Entities after liquidation

2/2024

UAB KG Distribution removed from the Register of Legal Entities after liquidation.

13/02/2024 UAB KG Logistika removed from the Register of Legal Entities after liquidation.

3/2024

UAB Grybai LT was registered, restructured from KB Grybai LT.

25/03/2024

AB Akola Group invested in UAB OMG Bubble Tea, a beverage startup. The investment amount is EUR 1,900 thousand, which

consist of 1,000 thousand of direct investment in start-up shares, and EUR 900 thousand long-

term loan with the option to convert

into shares. AB Akola Group has received the place in the board.

08/04/2024 AB Akola Group invested in BRITE DRINKS LTD a natural functional drinks start-

up. The investment amount is EUR 450 thousand.

AB Akola Group has received the place in the board.

18/06/2024 Liquidation of UAB Kormoprom Invest has been initiated.

21/

6/2024

SIA KEKAVA BIOENERGY has been registered.

28/

6/2024

The reorganization is nished, UAB Gerera was merged to UAB Linas Agro Grūdų Centrai. Accordingly, the share capital of UAB

Linas Agro Grūdų Centrai increased in the amount of EUR 103 thousand.

3. Group structure

and changes within

the Group

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

4. Intangible assets

4. Intangible

assets

Group	Software	Other intangible	Goodwill	Total
		assets
Cost:
Balance as at 30 June 2023	2,582	1,777	1,974	6,333
Additions	53	286	–	339
Acquisition of subsidiaries (Note 3)	–	3,260	3,358	6,618
Reclassification from property, plant and equipment	193	–	–	193
Disposals and write-offs	(27)	(24)	–	(51)
Balance as at 30 June 2024	2,801	5,299	5,332	13,432
Additions	39	227	–	266
Acquisition of subsidiaries (Note 3)	47	–	4,723	4,770
Disposals and write-offs	(342)	(10)	–	(352)
Reclassification from property, plant and equipment	42	34	–	76
Effect of movement in exchange rate	–	(23)	–	(23)
Balance as at 30 June 2025	2,587	5,527	10,055	18,169
Accumulated amortization:
Balance as at 30 June 2023	1,772	415	–	2,187
Charge for the year	316	554	–	870
Disposals and write-offs	(16)	(24)	–	(40)
Reclassification from property, plant and equipment	14	–	–	14
Balance as at 30 June 2024	2,086	945	–	3,031
Charge for the year	240	615	–	855
Disposals and write-offs	(342)	(10)	–	(352)
Balance as at 30 June 2025	1,984	1,550	–	3,534
Impairment losses:
Balance as at 30 June 2023	–	–	1,121	1,121
Balance as at 30 June 2024	–	–	1,121	1,121
Impairment charged for the year (Note 2.20.)	–	–	2,249	2,249
Balance as at 30 June 2025	–	–	3,370	3,370
Net book value as at 30 June 2023	810	1,362	853	3,025
Net book value as at 30 June 2024	715	4,354	4,211	9,280
Net book value as at 30 June 2025	603	3,977	6,685	11,265

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

4. Intangible assets/continued

Due to the acquisition of subsidiaries of SIA Elagro Trade and SIA LABIBAS SARGS on both 17 December 2024 and 20 December 2024,

a goodwill of EUR 4,723 thousand was recognised as at 30 June 2025. (As at 30 June 2024 a goodwill for the amount of EUR 3,358 thousand

was recognized due to the acquisition of AB Grybai LT). (Note 3).

For the goodwill impairment testing and assumptions see the Note 2.20.

As at 30 June 2025, the carrying amount of internally generated intangible assets (within the other intangible assets class) was

EUR 863 thousand (30 June 2024 – EUR 791 thousand) during the nancial year.

Part of the intangible assets of the Group with the acquisition value of EUR 1,507 thousand as at 30 June 2025 was fully amortized

(as at 30 June 2024 – EUR 1,097 thousand), but was still in active use.

As at 30 June 2025, the Group’s intangible assets were pledged with the net book value of EUR 224 thousand (as at 30 June 2024 – EUR 333

thousand) to banks as collateral for the loans (Note 17).

The Group’s amortization charge for the years ended 30 June 2025 and 30 June 2024 was included into the following captions:

4. Intangible

assets

	30/06/2025	30/06/2024
Cost of sales	192	133
Operating (expenses)	663	737
	855	870

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

5. Property, plant and equipment

To ensure comparability, the comparative information for 2023/2024 in the financial statements has been adjusted to reflect certain presentation changes.

5. Property, plant and

equipment

Group	Land	Buildings	Machinery	Vehicles	Other property, plant,	Construction in progress	Total
		and structures	and equipment		and equipment	and prepayments
Cost:
Balance as at 30 June 2023	26,304	149,655	88,632	10,270	10,259	14,031	299,151
Additions	1,071	3,682	6,127	3,507	1,080	31,037	46,504
Acquisition of subsidiaries (Note 3)	47	5,751	3,478	44	147	–	9,467
Disposals and write-offs	(94)	(927)	(3,367)	(1,448)	(379)	(129)	(6,344)
Reclassifications 1	56	6,385	6,738	1,256	335	(14,770)	–
Transfer to investment property	(63)	(214)	–	–	(102)	–	(379)
Transfer to/from inventories	–	394	(63)	130	258	(9)	710
Transfer to intangible assets	–	–	–	–	–	(193)	(193)
Effect of movement in exchange rate	–	(110)	(181)	(2)	–	–	(293)
Balance as at 30 June 2024	27,321	164,616	101,364	13,757	11,598	29,967	348,623
Additions	1,597	3,743	9,270	1,914	1,874	39,533	57,931
Acquisition of subsidiaries (Note 3)	509	5,104	2,289	398	134	15	8,449
Disposals and write-offs	(56)	(480)	(6,581)	(1,401)	(622)	(834)	(9,974)
Reclassifications	325	23,689	22,212	765	491	(47,482)	–
Transfer (to)/from investment property	92	–	–	–	–	–	92
Transfer to/from inventories	4	283	1,877	34	17	1,991	4,206
Transfer (to)/from intangible assets	–	–	–	–	–	(76)	(76)
Transfer (to)/from right-of-use assets	–	–	(6,341)	(2,444)	(134)	–	(8,919)
Effect of movement in exchange rate	–	–	–	(2)	–	–	(2)
Balance as at 30 June 2025	29,792	196,955	124,090	13,021	13,358	23,114	400,330
Accumulated depreciation:
Balance as at 30 June 2023	219	64,128	49,032	4,611	6,039	–	124,029
Charge for the year	34	8,273	9,641	1,480	1,311	–	20,739
Disposals and write-offs	–	(193)	(1,856)	(796)	(343)	(13)	(3,201)
Reclassifications	–	(44)	–	–	44	–	–
Transfer to investment property	–	(12)	–	–	(21)	–	(33)
Transfer from inventories	–	419	–	158	257	–	834
Effect of movement in exchange rate	–	–	–	1	–	–	1
Balance as at 30 June 2024	253	72,571	56,817	5,454	7,287	(13)	142,369
Charge for the year	33	9,308	10,410	1,806	1,396	–	22,953
Disposals and write-offs	–	(209)	(3,221)	(1,073)	(607)	–	(5,110)
Reclassification	–	–	21	–	(21)	–	–
Transfer (to)/from right-of-use assets	–	–	(1,399)	(364)	(73)	–	(1,836)
Effect of movement in exchange rate	1	–	–	(2)	–	13	12
Balance as at 30 June 2025	287	81,670	62,628	5,821	7,982	–	158,388
Impairment losses:
Balance as at 30 June 2023	–	629	–	–	30	–	659
Balance as at 30 June 2024	–	629	–	–	32	–	661
Balance as at 30 June 2025	–	629	–	–	32	–	661
Net book value as at 30 June 2023	26,085	84,898	39,600	5,659	4,190	14,031	174,463
Net book value as at 30 June 2024	27,068	91,416	44,547	8,303	4,279	29,980	205,593
Net book value as at 30 June 2025	29,505	114,656	61,462	7,200	5,344	23,114	241,281

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

5. Property, plant and equipment/ continued

The Group’s depreciation charge for the years ended 30 June 2025 and 30 June 2024 was included into the following captions:

	30/06/2025	30/06/2024
Cost of sales	19,986	17,849
Operating (expenses)	2,471	2,093
Other (expenses)	138	175
	22,595	20,117

As at 30 June 2025, part of Group depreciation in amount EUR 358 thousand was capitalized in cost of biological assets, which are

subsequently measured at fair value (as at 30 June 2024 capitalized EUR 622 thousand).

For the year ended 30 June 2025, the Group’s depreciation charge in the statement of pro t (loss) and other comprehensive income was

decreased by EUR 1,026 thousand (for the year ended 30 June 2024 – EUR 846 thousand) as a result of grants amortization. In addition, the

capitalized depreciation amount in biological assets presented in the statement of nancial position was decreased by EUR 120 thousand for

the year ended 30 June 2025 (for the year ended 30 June 2024 – EUR 105 thousand) (Note 16).

As at 30 June 2025, part of property, plant and equipment of the Group with the net book value of EUR 170,230 thousand

(EUR 144,916 thousands as at 30 June 2024), was pledged to banks as a collateral for the loans (Note 17).

Part of property, plant and equipment with the acquisition cost of EUR 54,836 thousand was fully depreciated as at 30 June 2025

(EUR 50,062 thousand as at 30 June 2024), but was still in active use.

As at 30 June 2025, the Group capitalized interest amounted to EUR 522 thousand (as at 30 June 2024, capitalized interest amounted to

EUR 274 thousand). The rate used to determine the amount of borrowing cost eligible for capitalization was in the range from 4.05 % to 4.89%.

The Group's subsidiaries calculate the capitalization rate individually.

As at 30 June 2025, the Group was committed to acquire property, plant and equipment for a total amount of EUR 20,108 thousand

(as at 30 June 2024 – EUR 30,785 thousand).

5. Property, plant

and equipment

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

6. Right-of-use assets

Group	Land	Buildings and structures	Machinery and equipment	Vehicles	Total
Cost:
Balance as at 30 June 2023	25,664	4,553	5,948	6,686	42,851
Additions	7,499	1,002	4,375	3,750	16,626
Acquisition of subsidiaries (Note 3)	–	1,122	–	–	1,122
Disposals and write-offs	(4,925)	(963)	(989)	(1,475)	(8,352)
Reclassification from/(to) non-current assets held for sale	–	81	–	–	81
Effect of movement in exchange rate	–	(53)	(11)	(4)	(68)
Balance as at 30 June 2024	28,238	5,742	9,323	8,957	52,260
Additions	7,633	2,092	2,304	2,321	14,350
Acquisition of subsidiaries (Note 3)	618	–	–	–	618
Disposals and write-offs	(6,943)	(1,161)	(1,845)	(1,470)	(11,419)
Reclassification from/(to) property, plant and equipment	–	–	6,475	2,444	8,919
Effect of movement in exchange rate	–	(89)	(15)	(5)	(109)
Balance as at 30 June 2025	29,546	6,584	16,242	12,247	64,619
Accumulated depreciation:
Balance as at 30 June 2023	5,219	1,913	2,140	3,043	12,315
Charge for the year	2,815	772	1,715	1,865	7,167
Disposals and write-offs	(1,730)	(614)	(942)	(1,266)	(4,552)
Reclassification from/(to) non-current assets held for sale	–	54	–	–	54
Effect of movement in exchange rate	–	59	1	(1)	59
Balance as at 30 June 2024	6,304	2,184	2,914	3,641	15,043
Charge for the year	2,478	937	2,395	2,401	8,211
Disposals and write-offs	(2,265)	(814)	(199)	(1,221)	(4,499)
Reclassification from/(to) property, plant and equipment	–	–	1,472	364	1,836
Effect of movement in exchange rate	–	(19)	(3)	16	(6)
Balance as at 30 June 2025	6,517	2,288	6,579	5,201	20,585
Net book value as at 30 June 2023	20,445	2,640	3,808	3,643	30,536
Net book value as at 30 June 2024	21,934	3,558	6,409	5,316	37,217
Net book value as at 30 June 2025	23,029	4,296	9,663	7,046	44,034

6. Right-of-use

assets

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

6. Right-of-use assets/ continued

The Group recognised expenses related to lease agreements in the pro t (loss) statement as at both 30 June 2025 and 30 June 2024:

Within the Group, leases relate to real estate, land, vehicles and equipment. In many cases the leases contain extension options. Leases may

also contain index – based lease payments that are linked to the Consumer Price Index.

As at 30 June 2025, part of Group depreciation in amount EUR 2,328 thousand was capitalized in the cost biological assets, which are

subsequently at fair value (as at 30 June 2024 capitalized EUR 2,592 thousand).

Future expenses related to lease agreements

As at 30 June 2025, part of right of use assets of the Group with the net book value of EUR 730 thousand (as at 30 June 2024 –

EUR 259 thousand), was pledged to banks as a collateral for the loans (Note 17).

To ensure comparability, the comparative information for 2023/2024 in the financial statements has been adjusted to reflect certain presentation changes.

6. Right-of-use

assets

	30/06/2025	30/06/2024 1
Depreciation of right-of-use assets
Cost of sales	2,992	2,140
Operating (expenses)	2,744	2,435
Other (expenses)	147	–
Total depreciation of right-of-use assets:	5,883	4,575
Interest expense included in the result of financing activities (Note 27)	1,548	851
Expenses related to short-term leases (included in cost of sales, operating (expenses))	205	223
Expenses related to leases of low-value assets (included in cost of sales, operating	650	619
(expenses))
Expenses related to variable lease payments not included in lease liabilities (included in cost of sales, operating expenses, other expenses)	1,611	1,046
Total amount recognized in profit (loss) statement	12,078	9,906

	30/06/2025	30/06/2024
Future expenses related to short-term and low value leases	270	270
Future variable lease payments	1,611	1,046
Future cash outflow for leases not yet commenced to which the lessee is committed	116	–
	1,997	1,316

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

7. Non-current receivables and prepayments

		Group		Company
	30/06/2025	30/06/2024	30/06/2025	30/06/2024
Non-current receivables
Trade receivables from agricultural produce growers due after one	4,819	6,320	–	–
year
Other trade receivables	3,091	1,617	–	–
Loans receivable from related parties after one year (Note 32)	194	1,450	194	4,400
Loans receivable after one year	480	–	–	–
Net investment, related with sublease	–	–	12,113	12,593
Less: allowance for doubtful non-current receivables	(898)	(883)	–	–
	7,686	8,504	12,307	16,993
Non-current prepayments
Non-current prepayments for services	471	828	–	–
	471	828	–	–

The Group’s subsidiary AB Linas Agro has entered into a long-term cooperation agreement with SIA KS Terminal for the expansion of a grain

terminal. Under the agreement, AB Linas Agro contributes to the nancing of the terminal’s expansion and, in return, obtains the right to utilise

warehouse facilities with a storage capacity of 49 thousand tonnes of grain, as well as access to the terminal’s loading services.

As at 30 June 2025, the balance of prepayments made under this agreement amounted to EUR 771 thousand (As at 30 June 2024 –

EUR 1,028 thousand), of which EUR 471 thousand (as at 30 June 2024 – EUR 828 thousand) was recognised as non-current prepayments and

EUR 300 thousand (as at 30 June 2024 – EUR 200 thousand) as current prepayments.

The following table presents the movement in the impairment of the Group’s non-current receivables and Net investment as at

30 June 2025 and 30 June 2024:

Movements in the allowance for impairment of the Group’s non-current receivables			Net investment as at:
were as follows:
Individually impaired		Company	30/06/2025	30/06/2024
Balance as at 30 June 2023	1,152	Less than 1 year	800	789
Changed for the year	–	1 – 2 years	800	789
Reversed during the year	(269)	2 – 3 years	800	789
Balance as at 30 June 2024	883	3 – 4 years	800	789
Changed for the year	190	4 – 5 years	800	789
Reversed during the year	(175)	More than 5 years	12,805	12,678
Balance as at 30 June 2025	898	Total undiscounted lease receivable	16,805	16,623
		Unearned finance income	(4,198)	(3,716)
		Net investment in the lease	12,607	12,907

As at 30 June 2025, part of non-current receivables of the Group with the net book value of EUR 5,176 thousand (as at 30 June 2024 –

EUR 6,493 thousand) was pledged to banks as a collateral for the loans (Note 17) .

7. Non-current

receivables and

prepayments

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

8. Biological assets

Management determined key assumptions and their sensitivity used in biological assets valuation presented in Note 2.20.

Fair value of the Group’s animals and livestock:

	Milking cows	Heifers	Bulls and	Poultry		Total animals
	(level 3)	(level 2)	fattening cattle	(level 3)	Other	and livestock
			(level 2)
Fair value as at 30 June 2023	6 062	3 318	( 61)	12 347	211	21 877
Acquisition	–	–	3	11,416	37	11,456
Births	–	162	111	694	–	967
Makeweight	313	3,976	962	92,604	–	97,855
Transfers between groups	2,547	(2,790)	243	578	(578)	–
Disposals	–	(612)	(1,406)	(105,756)	–	(107,774)
Write-offs and falls	(208)	(50)	(29)	(694)	–	(981)
Change in fair value of biological assets (Note 23)	2,137	–	(114)	582	–	2,605
Fair value as at 30 June 2024	10,851	4,004	(291)	11,771	(330)	26,005
Acquisition	–	–	3	13,114	–	13,117
Births	–	179	111	1,046	–	1,336
Makeweight	–	4,085	836	110,669	–	115,590
Transfers between groups	3,113	(3,706)	593	(330)	330	–
Disposals	(4,870)	(611)	(993)	(120,206)	–	(126,680)
Write-offs and falls	(242)	(55)	(35)	(791)	–	(1,123)
Change in fair value of biological assets (Note 23)	3,673	–	197	3,453	–	7,323
Fair value as at 30 June 2025	12,525	3,896	421	18,726	–	35,568

As at 30 June 2025, part of poultry amounting to EUR 11,307 thousand is presented as current assets (EUR 9,563 thousand as at

30 June 2024).

Milking cows		Heifers	Bulls and	Poultry	Total animals
Quantity according to biological assets group:	(level 3)	(level 2)	fattening cattle	(level 3)	and livestock
			(level 2)
As at 30 June 2025	3,245	3,695	720	3,579,646	3,587,306
As at 30 June 2024	3,210	3,594	861	3,399,340	3,407,005
Output according to biological assets group for the year ended (t) (unaudited):
As at 30 June 2025	39,637	970	266	150,975	191,847
As at 30 June 2024	39,111	897	229	147,203	187,440

8. Biological

assets

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

8. Biological assets/continued

Fair value of the Group's crops (level 3):

	Winter crops	Summer crops	Rapeseed	Forage crops	Total crops
Fair value as at 30 June 2023	10,286	4,611	5,078	4,234	24,209
Additions	9 176	4 870	5 966	6 030	26 042
Harvested assets	(11 426)	(4 630)	(6 114)	(6 664)	(28 834)
Reclassifications	–	–	(2)	–	(2)
Fair value adjustment on biological assets (Note 23)	822	202	( 94)	134	1 064
Fair value as at 30 June 2024	8 858	5 053	4 834	3 734	22 479
Additions	10 386	5 396	4 845	5 793	26 420
Harvested assets	(9 938)	(4 929)	(5 314)	(6 262)	(26 443)
Reclassifications	(12)	4	(19)	27	–
Write-offs	(13)	(4)	(12)	–	(29)
Fair value adjustment on biological assets (Note 23)	(511)	778	(178)	19	108
Fair value as at 30 June 2025	8 770	6 298	4 156	3 311	22 535

Crops by type:	Winter crops	Summer crops	Rapeseed	Forage crops	Total crops
Total hectares sown as at 30 June 2025	7,039	5,721	3,046	3,232	19,038
Total hectares sown as at 30 June 2024	6,718	5,305	3,247	3,631	18,901

During the years ended 30 June 2025 and 30 June 2024, there were no transfers between the different levels of fair value hierarchy.

As at 30 June 2025, part of animals and livestock of the Group with the carrying value of EUR 5,910 thousand (as at 30 June 2024 –

EUR 4,845 thousand) were pledged to banks as a collateral for the loans (Note 17).

8. Biological

assets

Harvested crops by type (unaudited):	Winter crops	Summer crops	Rapeseed	Forage crops	Total crops
Total harvest for the year ended 30 June 2025 (t)	50,232	64,733	10,933	66,123	192,021
Total harvest for the year ended 30 June 2024 (t)	51,378	22,266	11,941	123,574	209,159

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

9. Inventories

		Group
	30/06/2025	30/06/2024
Purchased goods for resale	119,348	151,134
Raw materials and other inventories	112,517	75,317
Right- of -return assets	1,270	1,037
Commitments to purchase agricultural produce (Note 12)	(1,437)	(461)
Less: net realizable value allowance	(4,273)	(4,251)
Net realizable value	227,425	222,776

The acquisition cost of the Group’s inventories accounted for at net realizable value as at 30 June 2025 amounted to EUR 20,223 thousand

(as at 30 June 2024 – EUR 22,749 thousand).

Inventory allowance and write-downs mainly related to the reduction of goods for resale to their net realisable value, as well as to the allowance

and/or write-off of obsolete and slow-moving items.

Write-downs of the Group’s inventories to net realisable value are recognised in the statement of pro t or loss and other comprehensive income

under the cost of sales. The most signi cant amount of allowance charged of inventories is related to Partners for farmers business segment.

Movement in inventory write-down allowance:

Balance as at 30 June 2023	(4,182)
Allowance charged for the year	(1,834)
Written-off during the year	–
Reversed during the year	1,765
Balance as at 30 June 2024	(4,251)
Allowance charged for the year	(1,909)
Written-off during the year	450
Reversed during the year	1,437
Balance as at 30 June 2025	(4,273)

Inventories recognized as an expense during the period are disaggregated as follows:

		Group
	30/06/2025	30/06/2024
Cost of sales	1,156,617	1,137,300
Operating (expenses)	24,577	25,372
Other (expenses)	767	404
	1,181,961	1,163,076

Operating (expenses) include consumed fuel and materials, and spare parts.

Other (expenses) include cost of re-sold goods and cost of sold raw material and other inventories.

The Group had a part of inventories with the carrying amount of EUR 175,891 thousand as at 30 June 2025 (30 June 2024 –

EUR 180,057 thousand) held at warehouses rented from third parties.

As at 30 June 2025, part of inventories of the Group with the carrying value of EUR 204,837 thousand (as at 30 June 2024 –

EUR 179,833 thousand) were pledged to banks as collateral for the loans (Note 17).

9. Inventories

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

9. Inventories /continued

Readily Marketable Inventories (RMI) – These are inventories of wheat, barley, triticale, oats, rapeseed, corn, oils, soybean meal, rapeseed

meal, sunflower meal, and other products of a similar nature that can be easily converted into cash (within less than 90 days) because:

 their ownership and transfer rights are not restricted in any way;

 their price risk is mitigated through either a forward physical sale or a hedging transaction;

 they are not intended for processing into higher value-added products; and

 their conversion into cash to reduce nancial obligations would not have a materially adverse impact on the business.

10. Prepayments

		Group
	30/06/2025	30/06/2024
Prepayments to agricultural produce growers	5,644	3,090
Prepayments to other suppliers	18,897	7,345
Prepayments for services (Note 7)	–	213
Less: allowance for doubtful prepayments to other suppliers	(139)	(101)
	24,402	10,547

During year ended 30 June 2025 and 30 June 2024, prepayments were made directly to agricultural produce growers of production growers

or other suppliers. These payments are non-interest bearing and are generally collectible from the agricultural produce growers within

120 – 360 days by delivering grain to the Group.

The increase in prepayments to other suppliers as at 30 June 2025 mainly relates to advance payments for fertilizers. The growth reflects the

higher purchase volumes driven by the Group’s expanded market presence and sales capacity, which allows maintaining larger inventory levels

in anticipation of future sales.

As at 30 June 2025, part of prepayments of the Group with the carrying value of EUR 13,638 thousand (as at 30 June 2024 – EUR 7,240

thousand) were pledged to banks as collateral for the loans (Note 17).

9. Inventories

10. Prepayments

		Group
	30/06/2025	30/06/2024
Readily marketable inventories	19,965	17,823
Other inventories	211,733	209,204
Less: Net realizable value allowance	(4,273)	(4,251)
Net realizable value	227,425	222,776

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

11. Trade receivables

		Group
	30/06/2025	30/06/2024
Trade receivables from agricultural produce growers	247,400	199,528
Trade receivables from other customers	110,859	104,733
Less: allowance for expected credit losses	(10,621)	(8,452)
	347,638	295,809

Trade receivables from other customers are non-interest bearing and are generally collectible on 30–90 days term. Trade receivables from

agricultural produce growers are non-interest bearing and are generally settled within 120–360 days by delivering grain to the Group.

IFRS 9 requires the Group and the Company to recognize expected credit losses for all debt instruments that are not measured at fair value

through pro t or loss and for assets arising from contracts with clients.

The Group and the Company uses the expected loss rate (ELR) matrix to calculate expected credit losses (ECL) of trade receivables. Expected

credit loss rates are based on the client’s past history, which is grouped by client type. The ELR matrix is based on the historical information of

the Group and the Company on client default. The Group and the Company adjusts the matrix values to include predictable future information.

For example, if the economy of the next year is likely to deteriorate/slow down according to future forecasts (e.g. GDP level), which may

increase the rate of default, historical expected loss rates will be adjusted to reflect future forecasts. Historical credit loss rates are reviewed in

each reporting period.

When assessing the allowance of trade receivables, individual client debts are grouped according to the past due period.

Below are the expected credit loss rates used to calculate ECL:

				Past due
	Non-overdue
		1 – 30 days	31 – 60 days	61-90 days	91-180 days	More than 180 days
2024	0.03%	0.06%	0.95%	1.20%	3.85%	11.01%
2025	0.13%	0.15%	0.99%	1.35%	2.58%	13.52%

Set out below is the movement in the allowance for expected credit losses of trade receivables:

	Allowance assessed on a collective basis
	and on an individual basis
Balance as at 30 June 2023	7,878
Provision for expected credit losses	1,268
Reversed during the year	(288)
Written-off during the year	(405)
Balance as at 30 June 2024	8,452
Provision for expected credit losses	3,458
Reversed during the year	(1,050)
Written-off during the year	(239)
Balance as at 30 June 2025	10,621

11. Trade

receivables

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

11. Trade receivables/continued

Changes in allowance for trade receivables for the years ended 30 June 2025 and 30 June 2024 were on line Expenses of impairment of trade

receivables, contract assets and other receivables in the statement pro t and loss and other comprehensive income .

The ageing analysis of the Group’s trade receivables as at 30 June 2025 and 30 June 2024 is as follows (less allowance):

	Amounts receivable from customers	Amounts receivable from customers whose payment term has already	passed
	whose payment term has not passed				Total
		less than 90 days	91-180 days	more than 180 days
2024	271,684	19,973	1,148	3,004	295,809
2025	333,560	12,762	678	638	347,638

As at 30 June 2025, the Group transferred rights to part of its trade receivables with the value of EUR 304,823 thousand

(as at 30 June 2024 – EUR 257,872 thousand) to banks as collateral for the loans (Note 17).

Factorized trade receivables in the amount of EUR 18,584 thousand as at 30 June 2025 (as at 30 June 2024 – EUR 24,115 thousand) are

included in aggregate amount of collateral for the loans.

The fair value of the Group’s and the Company’s trade receivables approximate their carrying amount, as it have a high credit rating and short

term maturities.

11. Trade

receivables

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

12. Other current assets and contract assets

		Group
	30/06/2025	30/06/2024
Financial assets
Contract assets	9,227	5,733
National Paying Agency	3,378	3,590
Loans receivable	883	256
Receivable amount from disposal of property, plant and equipment	303	100
Allowance for expected credit losses	(508)	(548)
Other receivables	2,927	1,197
Total financial assets	16,210	10,328
Non-financial assets
VAT receivable	1,400	1,568
Other recoverable taxes	165	157
Total non-financial assets	1,565	1,725
	17,775	12,053

Changes in allowance for other accounts receivables for the years ended 30 June 2025 and 30 June 2024 were included into expenses of

impairment of trade receivables, contract assets and other receivables in the statement of pro t (loss) and other comprehensive income.

Allowance of contract assets is assessed using the expected credit loss (ECL) model, consistent with trade receivables. Refer to Note 11.

The National Paying Agency is a state institution that administers support for agriculture and rural development and sheries, EU common

agricultural policy money.

The fair value of the Group’s and the Company’s other receivables approximate to their carrying amount.

Set out below is the movement in the allowance for expected credit losses of other receivables:

The ageing analysis of the Group’s other receivables (except for non-financial assets) as at 30 June 2025 and 30 June 2024 is as follows:

	Other accounts receivable neither		Past due but not impaired			Total
	past due nor impaired
		less than	91-180	180 -270	more than
		90 days	days	days	271 days
2024	10,328	-	-	-	-	10,328
2025	16,210	–	–	–	–	16,210

12. Other current

assets and contract

assets

	Individually impaired
Balance as at 30 June 2023	667
Written-off during the year	(119)
Balance as at 30 June 2024	548
Reversed during the year	(40)
Balance as at 30 June 2025	508

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

13. Other financial assets and derivative financial instruments

The Group uses the hierarchy described in Note 2.18 for determining and disclosing the fair value of nancial instruments by valuation

technique:

As at 30 June 2025 and 30 June 2024, restricted cash balance mostly consists of cash at bank account, held as a deposit for trading in the

futures exchange and reserved for other purposes.

The Group concludes forward agreements with xed price with Lithuanian and Latvian agricultural production growers for purchase/sale of

agricultural produce. For part of such agreements the Group does not have agreed sales/purchases contracts with xed price.

As at 30 June 2025 and 30 June 2024, to hedge the arising risk of price fluctuations for the total amount of such unutilized purchase or sales

commitments the Group concluded futures contracts that are traded on NYSE Euronext Paris SA exchange.

The Group hedges the risk of rapeseed oil and rapeseed meal price fluctuations by entering into over-the-counter (OTC) contracts traded in

the Rotterdam and Neuss Spyck markets.

There is an economic relationship between the hedged items and the hedging instruments as the terms of the forward agreement match the

terms of the commodity future contract (i.e., notional amount and expected payment date). The Group has established a hedge ratio of 1:1 for

the hedging relationships as the underlying risk of the commodity future contracts are identical to the hedged risk components. To test the

hedge effectiveness, the Group uses the hypothetical derivative method and compares the changes in the fair value of the hedging instruments

against the changes in fair value of the hedged items attributable to the hedged risks.

The hedge ineffectiveness can arise from:

 Differences in the timing of the cash flows of the hedged items and the hedging instruments;

 The counterparties’ credit risk differently impacting the fair value movements of the hedging instruments

 Changes to the forecasted amount of cash flows of hedged items and hedging instruments .

13. Other financial

assets and

derivative financial

instruments

			Group
		30/06/2025	30/06/2024
Derivative financial assets
Derivative financial instruments used to hedge the price risk (current portion) – assets	Level 1	932	1 471
Foreign exchange forward and swap contracts – assets	Level 2	38	122
Total derivative financial instruments assets:		970	1,593
Derivative financial liabilities
Derivative financial instruments used to hedge the interest risk (current portion) –	Level 1	–	(125)
(liabilities)
Foreign exchange forward and swap contracts – (liabilities)	Level 2	(251)	(36)
Total derivative financial instruments liabilities:		(251)	(161)
Other financial assets
Restricted cash		444	916
Other financial assets		83	211
Total other financial assets:		527	1,127

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

13. Other financial assets and derivative financial instruments/continued

The Group has recognised in the statement of nancial position the following derivative nancial instruments:

Group	30/06/2025	30/06/2024
Fair value hedge - Commitments to purchase agricultural produce (hedged item) (Note 9)	(1,437)	(461)
Fair value derivative financial instrument used to hedge the price risk of grains (designated as hedging	901	1,998
instruments)
Cash flow derivative financial instrument used to hedge the price risk of grains (designated as hedging	31	272
instruments)
Cash flow derivative financial instrument used to hedge the price risk of natural gas (designated as hedging instruments)	–	(125)
Cash flow derivative financial instrument used to hedge the foreign exchange rate risk (not designated as hedging instruments)	(213)	87

The result of derivative nancial instruments designated as hedging instruments is recorded in the cost of sales of the statements of pro t

(loss) and other comprehensive income.

The result of derivative nancial instruments not designated as hedging instruments is recorded in other income (expenses) of the statements

of pro t (loss) and other comprehensive income.

The Group is holding the following derivative nancial instruments.

13. Other financial

assets and

derivative financial

instruments

As at 30 June 2025	Less than 1	1 to 3 months	3 to 6 months	6 to 9 months	9 to 12 months	Total
	month
Foreign exchange forward contracts (Highly probable forecast purchase)
Amount EUR thousand	(43)	(295)	125	–	–	(213)
Average hedged price	(0.0351)	(0.4347)	0.0737	–	–	(0.1320)
Commodity future contracts
Amount tons thousand	–	4	123	–	–	127
Amount EUR thousand	–	59	873	–	–	932
Average hedged price	–	14.75	7.0976	–	–	10.9238

As at 30 June 2024	Less than 1	1 to 3 months	3 to 6 months	6 to 9 months	9 to 12 months	Total
	month
Foreign exchange forward contracts (Highly probable forecast purchase)
Amount EUR thousand	39	42	5	–	–	86
Average hedged price	1.0790	1.0866	–	–	–	1.0828
Commodity future contracts
Amount tons thousand	–	6	152	–	(5)	153
Amount EUR thousand	–	(47)	1,351	–	167	1,471
Average hedged price	–	(7.8333)	8.9117	–	37.09	12.7228
Commodity future contracts
Amount Mwh	–	4,542	3,979	–	–	8,521
Amount EUR thousand	–	(72)	(53)	–	–	(125)
Average hedged price	–	(15.9316)	(13.2959)	-	-	(14.6138)

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

14. Cash and cash equivalents

As at 30 June 2025, the Group pledged cash of EUR 5,735 thousand (EUR 4,713 thousand as at 30 June 2024) to banks as collateral for the

loans (Note 17).

As at 30 June 2025 the Group has an amount EUR 444 thousand of restricted cash balances held in the pledged accounts.

(As at 30 June 2024 – EUR 30 thousand.)

Fair value of cash and cash equivalents in 30 June 2025 and 30 June 2024 approximately equal to their residual value. The Group has also

assessed the expected credit losses (ECL) for cash and cash equivalents the overall effect was immaterial.

For the purposes of the consolidated cash flow statement, cash and cash equivalents as of 30 June 2025 and 30 June 2024 amounted to:

		Group		Company
	30/06/2025	30/06/2024	30/06/2025	30/06/2024
Cash at bank	13,180	15,850	82	305
Cash in transit	379	76	–	–
Cash on hand	170	111	–	–
	13,729	16,037	82	305
Overdraft	–	–	–	–
Cash and cash equivalents	13,729	16,037	82	305

14. Cash and cash

equivalents

		Group		Company
	30/06/2025	30/06/2024	30/06/2025	30/06/2024
Cash at bank	13,180	15,850	82	305
Cash in transit	379	76	–	–
Cash on hand	170	111	–	–
	13,729	16,037	82	305

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

15. Equity attributable to shareholders of the company

Dividends

Dividends declared by the parent company during the year:

	Dividends per share, In euro			Amount of dividends declared EUR
				thousand
	30/06/2025	30/06/2024	30/06/2025	30/06/2024
Declared during the year	0.03	0.02		4,995	4,169
	0.03	0.02		4,995	4,169

As of the date these nancial statements were authorized for issue, the Company had not declared or proposed any dividends for the reporting

period 2024/2025.

Legal reserve

A legal reserve is a compulsory reserve under the Lithuanian legislation. Annual transfers of not less than 5% of net pro t, calculated in

accordance with International Financial Reporting Standards, are compulsory until the reserve reaches 10% of the share capital.

As at 30 June 2025, the legal reserve is EUR 8,468 thousand (as at 30 June 2024 – EUR 4,672 thousand). Legal reserve was fully formed as

at 30 June 2025.

Own shares

During the year ended 30 June 2025, the Company disposed of 62,000 own shares.

Additionally, the Company used 53,310 of own shares to settle the exercise of granted share options.

The net result of those transaction is recognized directly to the statement of changes in equity.

During the year ended 30 June 2024, the Company disposed of 26,000 own shares, net result of this transaction is recognized directly to the

statement of changes in equity.

Foreign currency translation reserve

The Foreign Currency Translation Reserve stems from currency exchange rate variances encountered during the consolidation process of

Linas Agro A/S, LLC Linas Agro Ukraine, KG Polska Sp.zo.o., OOO KLM, Nordic Agro Investment Limited.

Share-based payment reserve

As at 30 June 2025, the Group / Company accounted EUR 27 thousand (as at 30 June 2024 – EUR 56 thousand) of expenses related to

employees participating in share options incentive. Additional information is disclosed in Note 29.

15. Equity

attributable to

shareholders of the

company

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

16. Grants and subsidies

Balance as at 30 June 2023	8,565
Received	925
Grants used	(103)
Amortization	(972)
Balance as at 30 June 2024	8,415
Received	4,401
Grants used	(358)
Amortization	(1,146)
Balance as at 30 June 2025	11,312

As at 30 June 2025, the amount is presented in the statement of nancial position as non-current liabilities of EUR 11,312 thousand.

(As at 30 June 2024, EUR 8,415 thousand as non-current liabilities.)

The major part of the Group’s grants consists of the funds received from the European Union and National Paying Agency for the purpose of

an acquisition of machinery and equipment (property, plant and equipment).

The amortization of grants of the Group for the years ended 30 June 2025 and 30 June 2024 was included into the following captions:

		Group
	30/06/2025	30/06/2024
Cost of sales (reducing the depreciation expenses of related assets)	990	810
Operating expenses (reducing the depreciation expenses of related assets)	36	36
Biological assets	120	126
	1,146	972

For the year ended 30 June 2025, the Group received the subsidies for the poultry activities, livestock, related mainly to the compensation for

cost increases for the production resources such as: gas, electricity, fodder raw materials in amount of the EUR 416 thousand (Note 26).

For the year ended 30 June 2024, the Group received the subsidies for the poultry activities, livestock, related mainly to the compensation for

cost increases for the production resources such as: gas, electricity, fodder raw materials in amount of the EUR 235 thousand (Note 26).

16. Grants and

subsidies

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

17. Borrowings

		Group		Company
	30/06/2025	30/06/2024	30/06/2025	30/06/2024 1
Non-current borrowings
Bank borrowings secured by the Group assets	88,941	60,017	21,200	26,500
	88,941	60,017	21,200	26,500
Current borrowings
Current portion of non-current bank borrowings	21,764	18,477	5,300	5,300
Current bank borrowings secured by the Group assets	224,740	188,404	7,711	1,765
Other current related parties’ borrowings (Note 32)	–	–	8,115	17,335
Supplier financing arrangments (Note 20)	3,871	–	–	–
	250,375	206,881	21,126	24,400
	339,316	266,898	42,326	50,900

Interest payable is normally settled monthly throughout the nancial year.

As at 30 June 2025 and 30 June 2024, part of shares, intangible assets, property, plant and equipment, biological assets, non-current

receivables, prepayments, inventories, other accounts receivable and contract assets, trade receivables, cash and cash equivalents were

pledged to banks as a collateral for the loans (Notes 3, 4, 5, 7, 8, 9, 10, 11, 12, 14).

Compliance with the covenants of the borrowing agreements

The Group has loan agreements with nancial institutions. The classi cation of these borrowings as non-current depends on the Group’s

compliance with certain nancial covenants.

As of 30 June 2025, the loan agreements applicable at the consolidated Group level include the following subsequent key nancial covenants,

for which compliance will be tested within the next 12 months:

 RMI adjusted debt level – not higher than 5;

 Net Debt / EBITDA – not higher than 6.5;

 Long-term debt / EBITDA – not higher than 2.5;

 Equity to Total Assets ratio – must exceed 30%.

At 30 June 2025 all Group companies complied with all covenant’s requirements, except those mentioned below:

As at 30 June 2025, the Group companies UAB Dotnuva Baltic, AS Dotnuva Baltic and SIA Dotnuva Baltic were not in full compliance with

certain conditions stipulated in their loan agreements with AS Luminor Bank and AB Luminor Bank. The Group companies have received the

waiver before the end of the nancial year, that no sanctions will be taken for non-ful lment of contractual conditions.

As at 30 June 2025, the Group company Lukšių ŽŪB did not comply with certain conditions under its loan agreement with AB SEB Bank.

The Group Company has received the waiver before the end of the nancial year, that no sanctions will be taken for non-ful lment of

contractual conditions.

Weighted average effective interest rates of borrowings outstanding at the year-end:

		Group		Company
	30/06/2025	30/06/2024	30/06/2025	30/06/2024
Current borrowings	3.85%	5.38%	3.49%	5.68%
Non-current borrowings	4.49%	6.08%	4.86%	6.05%

To ensure comparability, the comparative information for 2023/2024 in the financial statements has been adjusted to reflect certain presentation changes .

17. Borrowings

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

17. Borrowings/continued

Borrowings at the end of the year in functional and foreign currencies (EUR equivalent):

		Group		Company
	30/06/2025	30/06/2024	30/06/2025	30/06/2024
Borrowings denominated in:
Euro	337,351	264,470	42,326	50,900
US Dollar	718	797	–	–
Belarusian rouble	1,247	1,626	–	–
Russian rouble	–	5	–	–
	339,316	266,898	42,326	50,900

As at 30 June 2025, the Group’s not utilized credit lines comprise 173,831 thousand (as at 30 June 2024 – EUR 227,818 thousand).

The fair value of the Group’s and the Company’s borrowings approximate to their carrying amount.

The fair values of the Group’s interest-bearing loans and borrowings are evaluated by the Group based on the level 3 valuation method..

Borrowings repayment terms:

		Group		Company
	30/06/2025	30/06/2024	30/06/2025	30/06/2024
Until 1 year	250,739	206,881	21,126	24,400
from 1 to 2 years	43,665	26,266	21,200	26,500
from 2 to 5 years	37,000	33,683	–	–
more than 5 years	7,912	68	–	–
	339,316	266,898	42,326	50,900

17. Borrowings

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

18. Lease liabilities

The assets leased by the Group under lease contracts consist of land, premises, machinery and equipment, vehicles and other property, plant

and equipment. The terms of lease do not include restrictions on the activities of the Group in connection with the dividends, additional

borrowings or additional lease agreements.

		Group		Company
	30/06/2025	30/06/2024	30/06/2025	30/06/2024
Non-current lease liabilities
Lease liabilities related to right of use assets	41,861	32,463	11,661	12,027
Lease liabilities related to other assets	–	3,314	–	–
	41,861	35,777	11,661	12,027
Current lease liabilities
Lease liabilities related to right of use assets	10,673	9,138	569	524
Lease liabilities related to other assets	–	5,811	–	–
	10,673	14,949	569	524
	52,534	50,726	12,230	12,551

Compliance with the covenants of the lease liabilities:

As at 30 June 2025, the Group companies UAB Dotnuva Baltic and UAB Dotnuva Rent and AS Dotnuva Baltic have not ful lled part of conditions

under agreements UAB Luminor lizingas and AS Luminor Liising. The Group Companies have received the waiver before the end of the

nancial year, that no sanctions will be taken for non-ful lment of contractual conditions.

As at 30 June 2025, the Group companies Aukštadvario ŽŪB, Labūnavos ŽŪB, Lukšių ŽŪB, Sidabravo ŽŪB, Žibartonių ŽŪB, Medeikių ŽŪB,

Nemuno ūkis ŽŪB, UAB Landvesta 1, UAB Dotnuva Rent, UAB Dotnuva Seeds, UAB Akola Farming have not ful lled part of conditions under

agreements AB SEB Bank The Group Companies have received the waiver before the end of the nancial year, that no sanctions will be taken

for non-ful lment of contractual conditions.

Lease liabilities repayment terms:

		Group		Company
	30/06/2025	30/06/2024	30/06/2025	30/06/2024
Until 1 year	10,673	14,949	569	524
from 1 to 2 years	9,495	8,115	548	537
from 2 to 5 years	15,362	13,129	1,730	1,699
more than 5 years	17,004	14,533	9,383	9,791
	52,534	50,726	12,230	12,551

18. Lease liabilities

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

19. Provisions

		Group
	30/06/2025	30/06/2024
Non-current provisions	1,622	1,218
Current provisions	3,359	3,663
	4,981	4,881

The movement of the Group's provisions was as follows:

Group

	Provision for employee	Assurance type	Tax	Other	Total:
	benefits	warranty	risk	provisions
Balance as at 30 June 2023	1,123	923	2,509	239	4,794
Utilised (-)	(47)	(452)	–	(140)	(639)
Additionally formed (+)	278	550	664	–	1,492
Unused amounts reversed (-)	(1)	(76)	(681)	–	(758)
Unwinding of discount and changes in the discount rate	(9)	–	–	–	(9)
Balance as at 30 June 2024	1,345	946	2,492	98	4,881
Utilised (-)	(28)	(268)	–	–	(296)
Additionally formed (+)	508	740	–	388	1,636
Unused amounts reversed (-)	(204)	(85)	(897)	(88)	(1,274)
Unwinding of discount and changes in the discount rate	13	20	–	1	34
Balance as at 30 June 2025	1,634	1,353	1,595	399	4,981
Non-current part	1,019	328	–	275	1,622
Current part	615	1,025	1,595	124	3,359

• Provision for employee bene ts

Provisions for employee bene ts include a statutory retirement bene t payable to the Group’s employees. The period of non-current provision

is calculated according to each employee using actuarial assumptions that include the age of employee, mortality risk, index of staff turnover,

discount rate and the expected salary growth rate. The key assumptions applied in determining the Group's projected bene t obligation for the

employees are as follows:

	30/06/2025	30/06/2024
Discount rate	3.85%	3.72%
Staff turnover rate 1	15.74%	11.00%
Statistical annual salary increase 2	6.28%	4.81%

• Assurance type warranty

The Group recognizes an assurance type warranty for expected warranty claims related to equipment sold during the year, based on past

experience with repairs and returns. It is anticipated that these costs will be incurred in the following nancial year. The assumptions used to

calculate the warranty provision are based on the current sales level and available information regarding returns within the warranty period for

the sold equipment.

In the financial statements, the Group disclosed the average employee turnover rate at the group level because of turnover rates, which vary significantly among our diverse companies.

In the financial statements, the Group disclosed the average Statistical annual salary increase at the group level because of salary growth rates, which vary significantly among our diverse companies.

19. Provisions

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

19. Provisions/continued

• Tax risk

The Group's companies in Latvia utilized packaging services provided by third parties. A potential tax risk was identi ed that these services

could be classi ed as employee hiring, which may result in the obligation to pay social security and personal income tax (PIT). In response to

this risk and in accordance with the precautionary principle, the Group's company established a provision covering 50% of the potential tax

liability.

• Other provisions

The Group company leases land in Latvia where a grain elevator is located. Upon expiry of the lease in 16 years, the Company is obliged to

restore the land plot to its original condition. A provision has been recognized for these environmental restoration obligations.

19. Provisions

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

20. Trade payables and supplier finance arrangements

		Group		Company
	30/06/2025	30/06/2024	30/06/2025	30/06/2024
Trade payables	172,093	185,235	18	55
Payables to related parties	384	272	8 115	17 335
	172,477	185,507	8,133	17,390

Trade payables are non-interest bearing and are normally settled witihin 360-day term. Group trade payables consist of payable amounts for

goods and services.

Supplier financing arrangements

The Group participates in supplier nancing arrangements with external nancial institutions. Under these arrangements, suppliers may obtain

early payment from banks or other nanciers, while the Group settles its obligations with the nanciers in line with the agreed terms.

Participation is at the discretion of the suppliers, and the Group does not provide additional guarantees or collateral to the nanciers.

The purpose of these arrangements is to provide liquidity flexibility to suppliers and to ensure more stable settlement, while enabling the Group

to manage its working capital more ef ciently.

Terms and classi cation of the arrangements

Normal payment terms across the Group’s entities are not uniform and range from 5 to 180 days.

Accordingly, the Group classi es supplier nancing arrangements as follows:

Arrangements classified as trade payables:

Most of the Group’s subsidiaries enter into supplier nancing arrangements that are classi ed as trade payables. Under these arrangements,

suppliers may choose to receive early payment from the nanciers; however, this does not affect the Group’s payment schedule – the Group

continues to settle its obligations under the same terms, which are consistent with its usual commercial practices within the 5 to 180 day range.

Accordingly, these liabilities are presented as trade payables, as their economic substance does not differ from ordinary trade payables.

Arrangements classified as borrowings:

One of the Group’s subsidiaries enters into supplier factoring arrangements that are classi ed as borrowings. The usual settlement term with

this subsidiary’s suppliers is around 30 days; however, under these arrangements, the payment to the nancier may be extended up to

180 days. As a result, the actual settlement period signi cantly deviates from the normal range, and additional interest is charged for the

extension. In view of these terms, the obligations are, in substance, equivalent to borrowings and are therefore presented as borrowings, rather

than as trade payables, in the consolidated nancial statements.

		Group
	30/06/2025	30/06/2024
Presented within trade payables:	8,394	20,373
of which suppliers have received payments:	7,741	19,770
Presented within Borrowings	3,870	–
of which suppliers have received payments:	3,870	–

During 2024/2025 and 2023/2024, there were no signi cant non-cash changes affecting the carrying amounts of these liabilities.

20. Trade payables

and supplier finance

arrangements

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

21. Other non–current liabilities, other current liabilities, and contract liabilities

		Group
	30/06/2025	30/06/2024
Other non-current liabilities
Refund liability	1,377	1,181
Total other non-current liabilities	1,377	1,181
Contract liabilities
Short-term advances for services or goods	4,116	3,422
Short-term advances for services or goods from related parties (Note 32)	196	–
Deferred revenue from contracts with customers	743	200
Total contract liabilities	5,055	3,622
Other current liabilities
Vacation accrual	14,969	13,127
Payroll related liabilities	12,451	11,012
Bonuses to employees	10,250	11,987
VAT payable	7,552	9,277
Accrued expenses	2,149	2,558
Payable amount for property,plant and equipment	1,763	131
Other liabilities	3,229	2,680
Total other current liabilities	52,363	50,772

Contract liabilities consist of advance payments received from customers, primarily related to the sale and servicing of machinery, equipment

installation services, and other products and services provided to farmers, as well as sales of food products.

The contracts with customers do not include any variable consideration. The advance payments are classi ed as current liabilities, as they are

expected to be recognized as revenue within a period of less than one year.

Other current liabilities are non-interest bearing and have an average settlement term of three months.

21. Other non –

current liabilities,

other current

liabilities, and

contract liabilities

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

22. Segment information

The main segments of the Group – “Partners for farmers”, “Farming”, “Food production” and “Other products and services.” The Group

management follows its performance by operating segments that are consistent with the line of business speci ed in the Group’s strategy:

• The “Partners for farmers” segment includes trade of wheat, rapeseed, barley, other grains, oilseeds, suncake and sunmeal, sugar beet

pulp, soymeal, vegetable oil, rapeseed cake, and other feedstuffs, along with offering grain storage and logistics services, and it includes

the sales of fertilizers, seeds, plant protection products, machinery and equipment, grain storage facilities, spare parts, and other

equipment to agricultural produce growers and grain storage companies;

• the “Farming” segment includes growing of grains, rapeseed, and others as well as sales of harvest, breeding of livestock and sales of

milk and livestock. Milk is sold to local dairy companies, other production is partly used internally, partly sold;

• the “Food production” segment includes whole cycle poultry business (incubation of hatching eggs, broiler breeding, production of

poultry and its products, feed manufacturing for self-supply, retail sale of chicken meat and its products), production and wholesale of

flour and flour mixes, instant foods, production of canned vegetables and mushrooms, ready-to-eat soups, and other ecological food

products, production, and wholesale of breadcrumbs and breading mixes;

• the “Other products and services” segment includes trade in pest control and hygiene products, production and sales of extruded

products, pet food, provision of veterinary pharmaceutical services and trade in products, provision of fumigation and sanitation services.

The Group's Chief nancial of cer monitors the operating results of individual business units for the purpose of making informed decisions

regarding resource allocation and performance assessment. Segment performance is evaluated based on pro t or loss, and this assessment

aligns consistently with pro t or loss in the consolidated nancial statement.

Transfer prices between the Group companies are based on market prices in a manner similar to transactions with third parties .

22. Segment

information

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

22. Segment information/ continued

Financial year ended 30 June 2025

Group	Partners for		Food	Other products	Adjustments and
		Farming			1	Total
Revenue from contracts with customers	farmers		production	and services	eliminations
Revenue from contracts with customers
Third parties	1,076,062	40,389	448,790	15,458	–	1,580,699
Intersegment	75,675	7,293	344	5,386	(88,698)	–
Total revenue from contracts with customers	1,151,737	47,682	449,134	20,844	(88,698)	1,580,699
Results
Operating expenses	(61,398)	(5,707)	(43,440)	(4,881)	–	(115,426)
Depreciation and amortization	(9,377)	(3,386)	(14,855)	( 583)	–	(28,201)
Write-off bad debts and change in provisions for doubtful debts	(1,918)	(56)	(203)	(5)	–	(2,182)
Segment operating profit (loss)	28 930	11 260	39 170	(444)	–	78 916
Interest income	6,416	124	478	1,669	(2,242)	6,445
Interest (expenses)	(16,469)	(1,700)	(3,892)	(2,832)	2,241	(22,652)
Income tax and deferred tax (expenses)/income	(3,425)	(146)	601	1,760	(169)	(1,379)
Assets
Investments in non-current assets 2	23,816	12,194	31,753	930	–	68,693
Non-current assets 3	104,923	88,143	132,819	11,604	8,418	345,907
Current assets
Trade receivables (Note 11)	307,600	1,981	37,122	935	–	347,638
Contract assets (Note 12)	9,061	88	86	18	(26)	9,227
Right of return assets (Note 9)	1,271	–	–	–	–	1,271
Other remaining current assets 4	231,690	35,918	72,895	32,415	(62,689)	310,229
Total current assets	549,622	37,987	110,103	33,368	(62,715)	668,365
Total assets	654,545	126,130	242,922	44,972	(54,297)	1,014,272
Liabilities
Non-current liabilities
Refund liabilities (Note 21)	1,377	–	–	–	–	1,377
Other remaining non-current liabilities	56,335	30,104	28,840	31,217	967	147,463
Total non-current liabilities	57,712	30,104	28,840	31,217	967	148,840
Current liabilities
Contract liabilities (Note 21)	4,091	4	881	567	(488)	5,055
Other remaining current liabilities 5	394,348	29,565	102,183	27,709	(61,659)	492,146
Total current liabilities	398,439	29,569	103,064	28,276	(62,147)	497,201
Total liabilities	456,151	59,673	131,904	59,493	(61,180)	646,041

Group	Partners for	Farming	Food production	Other products	Total
	farmers			and services
Performance obligation settled at a specific point in time	1,060,714	40,389	448,790	15,458	1,565,351
Performance obligation settled over time	15,348	–	–	–	15,348
	1,076,062	40,389	448,790	15,458	1,580,699

Intersegment revenue is eliminated on consolidation.

Capital expenditure consists of additions of intangible assets, property, plant and equipment and investment property.

The amount includes not rented investment property, part of property, plant and equipment, other investments, prepayments for financial assets, non-current loans receivable from related parties, non-current

loans receivable from employees and deferred income tax asset. Goodwill is not included.

The amount includes current loans receivable from related parties, part of other accounts receivable (excluding receivable from National Paying Agency), restricted cash, cash and cash equivalents.

As at 30 June 2025 and 30 June 2024, the amount mainly includes income and other taxes payable, current payables to and current loans payable to related parties, and part of borrowings, which are managed

on the Group basis.

22. Segment

information

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

22. Segment information/ continued

Financial year ended 30 June 2024

Group

	Partners for		Food	Other products	Adjustments and
		Farming²			1	Total
Revenue from contracts with customers	farmers²		production	and services	eliminations
Third parties	1,059,063	34,585	398,137	14,453	–	1,506,238
Intersegment	78,682	9,036	549	4,792	(93,059)	–
Total revenue from contracts with customers	1,137,745	43,621	398,686	19,245	(93,059)	1,506,238
Results
Operating expenses 2	(59,558)	(6,018)	(38,358)	(4,393)	–	(108,327)
Depreciation and amortization	(8,113)	(2,792)	(13,414)	(495)	–	(24,814)
Provisions for onerous contracts	(30)	–	–	–	–	(30)
Write-off bad debts and change in provisions for doubtful debts	447	1	(263)	(40)	–	145
Impairment of property plant and equipment	19	(1)	(12)	–	–	6
Segment operating profit (loss)	19,595	6,049	20,450	2	–	46,096
Interest income	4,846	1	446	66	–	5,359
Interest (expenses)	(16,200)	(1,108)	(4,739)	(2,430)	–	(24,477)
Income tax and deferred tax (expenses)/income	(2,046)	222	87	(341)	–	(2,078)
Assets
Investments in non-current assets 3	12,780	6,398	26,917	748	–	46,843
Non-current assets 4	83,733	85,529	110,348	9,284	(327)	288,567
Current assets
Trade receivables (Note 11)	260,143	1,101	33,568	997	–	295,809
Contract assets (Note 12)	5,669	–	29	35	–	5,733
Right of return assets (Note 9)	1,037	–	–	–	–	1,037
Other remaining current assets 5	232,525	37,490	55,282	26,887	(57,269)	294,915
Total current assets	499,374	38,591	88,879	27,919	(57,269)	597,494
Total assets	583,107	124,120	199,227	37,203	(57,596)	886,061
Liabilities
Non-current liabilities
Refund liabilities (Note 21)	1,181	–	–	–	–	1,181
Other remaining non-current liabilities	26,055	24,089	20,304	36,463	(84)	106,827
Total non-current liabilities	27,236	24,089	20,304	36,463	(84)	108,008
Current liabilities
Contract liabilities (Note 21)	3,442	35	162	410	(427)	3,622
Other remaining current liabilities 6	364,489	25,754	107,775	20,678	(56,584)	462,112
Total current liabilities	367,931	25,789	107,937	21,088	(57,011)	465,734
Total liabilities	395,167	49,878	128,241	57,551	(57,095)	573,742

Group	Partners for	Farming	Food production	Other products	Total
	farmers			and services
Performance obligation settled at a specific point in time	1,052,081	34,585	398,137	14,453	1,499,256
Performance obligation settled over time	6,982	–	–	–	6,982
	1,059,063	34,585	398,137	14,453	1,506,238

Intersegment revenue is eliminated on consolidation.

To ensure comparability, the comparative information for 2023/2024 in the financial statements has been adjusted to reflect certain presentation changes.

Capital expenditure consists of additions of intangible assets, property, plant and equipment and investment property.

loans receivable from employees and deferred income tax asset. Goodwill is not included.

The amount includes current loans receivable from related parties, part of other accounts receivable (excluding receivable from National Paying Agency), restricted cash, cash and cash equivalents.

on the Group basis.

22. Segment

information

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

22. Segment information/ continued

The Company's revenue from contracts with customers

		Company
	30/06/2025	30/06/2024
Serivces provided over time	1,633	1,633
	1,633	1,633

Contract balances

Revenue from contracts with customers recognized for the year ended 30 June 2025 and 30 June 2024:

		Group
	30/06/2025	30/06/2024
Amounts included in contract liabilities at the beginning of the year	(3,622)	(3,206)
Performance obligations satisfied in current period	3,622	3,206

Revenue from contracts with customers by their geographical segments

		Group
	30/6/2025	30/6/2024
Lithuania	615,041	599,504
Europe (excluding Scandinavian countries, CIS and Lithuania)	563,545	556,172
Scandinavian countries	152,117	162,739
Africa	181,245	134,859
Asia	7,547	3,917
CIS	57,216	44,661
Other	3,988	4,386
	1,580,699	1,506,238

The revenue from the contract with customers information above is based on the location of the customer.

Revenue from the contract with customers from the largest customer amounted to EUR 54,628 thousand for the year ended 30 June 2025.

Revenue from the contract with customers from the largest customer amounted to EUR 45,714 thousand for the year ended 30 June 2024.

Revenue from the contract with customers from the largest customer was recorded in Partners for farmers business segment for the years

ended 30 June 2025 and 30 June 2024.

For the reporting period ended 30 June 2025, the Group recognized revenue from the contract with customers of EUR 1,580,699 thousand,

which is presented net of sales-related to both marketing expenses (EUR 118 thousand) and volume discounts (EUR 955 thousand). For the

year ended 30 June 2024, the Group recognized revenue from the contract with customers of EUR 1,506,238 thousand, which is presented

net of sales-related to volume discounts (EUR 767 thousand).

22. Segment

information

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

22. Segment information/ continued

Non-current assets

	Non-current assets	Group
	30/06/2025	30/06/2024
Lithuania	214,550	192,063
Latvia	79,962	58,468
Estonia	1,333	1,782
Belarus	1,354	,502
Ukraine	4	17
	297,203	252,832

Non-current assets for this purpose consist of property, plant and equipment, investment property, intangible assets and right of use assets.

23. Cost of sales

		Group
	2024/2025	2023/2024
Cost of inventories recognized as an expense	(1,156,617)	(1,137,300)
Wages, salaries, and social security	(103,209)	(89,038)
Logistics expenses	(72,152)	(74,900)
Utilities expenses	(29,099)	(26,828)
Depreciation (Notes 4,5,6)	(22,180)	(19,670)
Change in fair value of biological assets (Note 8)	7,431	3,668
Change in fair value of financial instruments (Note 13)	(55)	62
Provision of onerous contract	–	(30)
Other	(10,732)	(11,086)
	(1,386,613)	(1,355,122)

24. Selling (expenses)

		Group
	2024/2025	2023/2024
Wages, salaries and social security	(24,061)	(20,718)
Advertisement, marketing, representation	(6,003)	(5,499)
Premises, vehicles, and other equipment lease and maintenance	(4,635)	(5,817)
Depreciation and amortization (Note 4,5,6)	(1,961)	(2,677)
Office supplies and services	(966)	(737)
Logistics expenses	(357)	(710)
Consulting expenses	(316)	(977)
Employees trainings	(139)	(153)
Telecommunication expenses	(78)	(98)
Other	(4,744)	(5,314)
	(43,260)	(42,700)

22. Segment

information

23. Cost of sales

24. Selling

(expenses)

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

25. General and aministrative (expenses)

		Group		Company
	2024/2025	2023/2024	2024/2025	2023/2024
Wages, salaries and social security	(41,725)	(40,533)	(2,215)	(2,017)
Premises, vehicles, and other equipment lease and maintenance	(5,322)	(3,065)	(97)	(112)
Taxes	(4,139)	(2,973)	(64)	(39)
Depreciation and amortization (Note 4,5,6)	(3,767)	(2,291)	(168)	(123)
Consulting expenses	(3,041)	(1,690)	(596)	(267)
Inventories and trade receivables insurance	(1,985)	(2,332)	–	–
Office supplies and services	(1,881)	(1,910)	(18)	(17)
Advertisement, marketing, representation	(1,668)	(2,736)	(55)	(129)
Environmental and waste management costs	(1,581)	(1,702)	–	–
Bank fees	(925)	(681)	(1)	(36)
Employees trainings	(518)	(474)	(15)	(10)
Support	(495)	(449)	(42)	(97)
Telecommunication expenses	(244)	(282)	(8)	(8)
Other	(4,875)	(4,509)	(334)	(294)
	(72,166)	(65,627)	(3,613)	(3,149)

26. Other income (expenses)

		Group		Company
	2024/2025	2023/2024	2024/2025	2023/2024
Other income
Grants received for agriculture activity	3,431	4,085	–	–
Support for poultry activities	416	235	–	–
Rental income from investment property and property, plant and equipment	292	262	7	6
Gain from disposal of investment property and property, plant and equipment	1,304	1,372	–	1
Change in fair value of financial instruments	–	819	–	–
Dividend income	–	–	21,665	37,310
Gain from disposal of subsidiaries, associated and joint venture Companies	245	–	200	43,521
Other income (sales of surplus equipment and inventory, sublease income, legal settlements income and other miscellaneous income)	2,677	3,451	501	523
	8,365	10,224	22,373	81,361
Other (expenses)
Direct operating expenses arising from rented and not rented investment properties	(636)	(269)	(20)	(20)
Loss from disposal of property, plant and equipment	–	–	–	–
Change in fair value of financial instruments	(709)	(3,267)	–	–
Impairment of investments into associates/joint ventures and subsidiaries	–	–	(1,600)	(949)
Loss on disposal of other investments and prepayments for financial assets	–	(47)	–	(380)
Goodwill impairment expenses	(2,249)	–	–	–
Other expenses (sales of surplus equipment and inventory, sublease expenses, legal settlements expenses and other miscellaneous expenses)	(2,333)	(3,479)	–	–
	(5,927)	(7,062)	(1,620)	(1,349)

25. General and

administrative

(expenses)

26. Other income

(expenses)

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

27. Income (expenses) from financing activities

		Group		Company
	2024/2025	2023/2024	2024/2025	2023/2024
Income from financing activities
Interest income	5,427	4,690	1,892	1,545
Gain from foreign exchange rate differences	344	–	9	9
Income from overdue payments	674	669	–	–
	6,445	5,359	1,901	1,554
(Expenses) from financing activities
Interest expenses	(22,382)	(23,858)	(2,986)	(3,922)
Loss from foreign exchange rate differences	–	(330)	–	–
Expenses for overdue payments	(270)	(289)	–	–
	(22,652)	(24,477)	(2,986)	(3,922)

27. Income (expenses)

from financing

activities

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

28. Income tax

		Group
	30/06/2025	30/06/2024
Current income tax (expense) charge	(4,958)	(2,562)
Adjustments in respect of current income tax of previous years	1,617	359
Deferred tax benefit (expense) relating to origination and reversal of temporary differences	3,691	125
Global minimum top-up tax (expense)	(1,729)	–
Income tax (expense) reported in the statement of profit or loss	(1,379)	(2,078)
Deferred tax benefit (expense) recorded in other comprehensive income	(18)	256

		Group
	30/06/2025	30/06/2024 1
Deferred income tax asset
Lease liabilities	5,450	4,228
Property, plant and equipment and investment property (difference between tax and accounting values)	4,267	3,664
Tax loss carry forward (available indefinitely)	2,550	2,038
Accruals	1,778	1,679
Differences in tax base of trade receivables	1,230	1,443
Tax loss carry forward (available to carry forward 5 years)	1,024	883
Allowance for inventories	557	287
Fair value of financial instruments	86	–
Impairment of prepayments	2	2
Fair value of biological assets	–	31
Other	3,355	1,005
Total deferred income tax asset:	20,299	15,260
Deferred income tax liability
Right of use assets	(5,460)	(4,461)
Fair value of biological assets	(1,429)	(98)
Property, plant and equipment and investment property (difference between tax and accounting values)	(971)	(1,003)
Fair value of financial instruments	–	(111)
Other	(1,247)	(1 460)
Total deferred income tax liability:	(9,107)	(7,133)
Deferred tax impairment	(488)	(1,090)
Deferred income tax, net	10,704	7,037
Accounted for as deferred income tax asset in the statement of financial position	12,691	8,436
Accounted for as deferred income tax liability in the statement of financial position	(1,987)	(1,399)

The Group’s deferred income tax asset and liability were set-off to the extent they relate to the same tax administration institution and the same

taxable entity.

To ensure comparability, the comparative information for 2023/2024 in the financial statements has been adjusted to reflect certain presentation changes .

28. Income tax

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

28. Income tax/continued

As at 30 June 2025 and 30 June 2024, the Group has not recognised deferred tax asset for the following temporary differences (temporary

differences basis is provided below before application of income tax rate):

		Group
	30/06/2025	30/06/2024
Tax loss carry forward	3,052	10,796
	3,052	10,796

Deferred tax asset has not been recognized in respect of these losses as they may not be used to offset taxable pro ts elsewhere in the Group

and they have arisen in subsidiaries that have a history of losses.

According to paragraph 39 of IAS 12, the Group shall recognize a deferred tax liability for all taxable temporary differences associated with

investments in subsidiaries, branches and associates except the cases than recognition exception apply. The Group has determined that the

recognition exception in paragraph 39 of IAS 12 does apply to it because it is not probable that the temporary difference will reverse in the

foreseeable future, i.e. no distribution of undistributed pro ts in Estonia and Latvia are planned in the foreseeable future.

The income tax can be reconciled to the theoretical amount, which would be calculated by applying the basic income tax rate to the Group’s

pro t before tax as follows:

Tax incentive includes investment project incentive, support incentive and tax loss incentive.

In December 2021, the Organisation for Economic Co-operation and Development (OECD) introduced the Pillar 2 model rules, aimed at

overhauling international corporate taxation. The primary objective of these regulations is to guarantee that large multinational enterprises,

speci cally those with global revenues surpassing EUR 750,000 thousand, are subject to a minimum effective tax rate of 15%. These rules

need to be incorporated into the national laws of the countries that choose to adopt them.

The Group's effective income tax rate in Lithuania is below the minimum threshold of 15% due to the tax relief on investment project incentive

and other incentives received in Lithuania. In other countries where the Group operates, namely Latvia, Estonia, Poland, Denmark, Ukraine,

Belarus and United Kingdom the Group's effective income tax rate exceeds 15%, or the activities result in a loss or substance-based income

exceeds the pro t before tax for the current year.

Since there are currently no plans to implement the Global Minimum Tax in Lithuania, Latvia or Estonia and only income inclusion rule (IRR)

came into effect on 1 January 2024 in Denmark, Poland and United Kingdom, the Group will be obligated to pay a top-up-tax in Denmark for

the year 2024/2025. For the year 2025/2026, the Group will be obligated to pay a top-up tax in Denmark, Poland and United Kingdom as

undertaxed Pro t Rule (UTPR) comes into effect on 1 January 2025.

To ensure comparability, the comparative information for 2023/2024 in the financial statements has been adjusted to reflect certain presentation changes.

28. Income tax

			Group
		30/06/2025	30/06/2024 1
Profit (loss) before tax		62,071	26,991
At the statutory income tax rate of Lithuania (15%)		9,310	4,049
Effect of different tax rates in Estonia, Latvia, Denmark, Ukraine and Belarus (Note 2.15.)		(888)	1,248
Change in deferred tax resulting from a change in tax rate in Lithuania		(668)	–
Income tax correction for prior periods		38	(359)
Investment inventive		(3,919)	(2,715)
Non-deductible expenses and Non-taxable income for tax purposes		(517)	(145)
Change in deferred tax allowance/	Utilisation of previously unrecognised deferred tax asset	(3,706)	–
Global minimum top-up tax		1,729	–
Income tax expense reported in the statement of comprehensive income		1,379	2,078
Effective income tax rate		2%	8%

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

28. Income tax/continued

For the year ended as at 30 June 2025, the Group has calculated the top-up tax of EUR 1,729 thousand. The aggregated jurisdictional pro t

for Lithuania was calculated by considering mandatory exclusions and optional elections. Based on the jurisdictional net pro t, the jurisdictional

effective tax rate was calculated by incorporating the accounted income tax and assessing deferred taxes related to tax relief. The top-up tax

rate was derived by subtracting the jurisdictional effective tax rate from the minimum effective tax rate of 15%. The top-up tax rate was applied

to the excess pro t, which was calculated by deducting the jurisdictional substance-based income (i.e., salary expenses and average carrying

amount of property, plant, and equipment) from the aggregated jurisdictional pro t. No deferred tax was recognized related to top-up tax.

29. Basic and diluted earnings per share

 Basic earnings per share

Basic earnings per share amounts are calculated by dividing net pro t for the year attributable to the equity holders of the parent by the

weighted average number of ordinary shares outstanding during the year.

The weighted average number of ordinary shares for the years ended 30 June 2025 and 30 June 2024 was as follows:

Calculation of weighted average for the year ended 30 June 2025	Number of shares	Par value (EUR)	Issued/365 (days)	Weighted average
Shares issued as at 30 June 2024	166,458,509	0.29	3	1,368,152
Disposal of own shares as at 3 July 2024	31,000	0.29	1	456,136
Disposal of own shares as at 4 July 2024	5,000	0.29	5	2,280,747
Disposal of own shares as at 9 July 2024	10,000	0.29	16	7,298,828
Disposal of own shares as at 25 July 2024	2,000	0.29	5	2,280,911
Disposal of own sharesas at 30 July 2024	1,000	0.29	6	2,737,110
Disposal of own shares as at 5 August 2024	1,000	0.29	129	58,848,213
Disposal of own shares as at 12 December 2024	53,310	0.29	8	3,650,670
Disposal of own shares as at 20 December 2024	5,000	0.29	179	81,686,193
Disposal of own shares as at 17 June 2025	6,000	0.29	1	456,364
Disposal of own shares as at 18 June 2025	1,000	0.29	12	5,476,400
Shares issued as at 30 June 2025	166,573,819			166,539,724

Calculation of weighted average for the year ended 30 June 2024	Number of shares	Par value (EUR)	Issued/365 (days)	Weighted average 1
Shares issued as at 30 June 2023	160,347,961	0.29	7	3,075,166
Disposal of own shares 7 July 2023	3,000	0.29	151	66,336,973
Shares issued as at 5 December 2023	6,084,548	0.29	37	16,871,545
Disposal of own shares 11 January 2024	23,000	0.29	171	77,984,671
Shares issued as at 30 June 2024	166,458,509			164,268,355

Calculation of the basic earnings per share is presented below:

	30/06/2025	30/06/2024 1
Net profit (loss), attributable to the shareholders of the parent (in EUR thousand)	60,692	24,913
Weighted average number of ordinary shares outstanding for the year	166,539,724	164,268,355
Basic earnings per share (in EUR)	0.36	0.15

In the prior year 2023/2024, the disclosure of the movement in the number of shares has been clarified. This adjustment had no impact on equity or profit.

28. Income tax

29. Basic and diluted

earnings

per share

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

29. Basic and diluted earnings per share/continued

 Share-based payments and diluted earnings per share

On 29 October 2021 AB Akola Group signed an option contract with AB Akola Group’s employees for 106,620 ordinary registered shares of

AB Akola Group. Based on the terms and conditions set forth in the option scheme, in 2024-2026, employees will be able to exercise the right

to receive the above-mentioned number of ordinary nominal shares of Akola Group AB with a nominal value of EUR 0.29, which are granted

to the employees free of charge in accordance with the conditions and provisions set forth in the rules.

50% of all share options vest three years after the grant date, 25% vest after four years, and the remaining 25% vest after ve years. There are

no other vesting conditions except for the requirement that the employee remains in service with the Group during the respective vesting

period, i.e. 50% of the share options will vest if the employee remains employed by the Group for three years from the grant date, 25% will vest

if the employee remains employed for four years from the grant date, and the remaining 25% will vest if the employee remains employed for

ve years from the grant date. The share options become exercisable within two months after the end of each respective vesting period.

The market price of the underlying shares on the date of grant, which was 0.938 EUR for one ordinary nominal share. The contractual term of

the share options is ve years and two months and there are no cash settlement alternatives for the employees. The Group does not have a

past practice of cash settlement for these awards.

During the nancial year ended 30 June 2025, the employees of AB Akola Group exercised their right to 50% of all granted share options, and

53,310 ordinary registered shares with a nominal value of EUR 0.29 each were issued. The remaining 50% (53,310 shares) may vest during

2025/2026 and 2026/2027, subject to the employees meeting the speci ed conditions.

As a result of the exercised share options, the number of issued and outstanding shares did not change, as the Company settled the equity-

settled share-based payment using own shares. The changes has been included in the calculation of earnings per share (basic and diluted).

Expenses related to share options are recognized in the accounts on a pro-rata basis over the vesting period, based on the grant date fair

value, and are accumulated until the awards are fully vested. As at 30 June 2025 the Group and the Company have accounted for EUR 27

thousand (as at 30 June 2024 – EUR 56 thousand) of related expenses corresponding to the given period in these nancial statements.

Movements during the year

The following table illustrates the number and weighted average exercise prices (WAEP) of, and movements in, share options during the year:

	Quantity	WAEP
Balance sheet at 30 June 2023	6,263,966	–
Change in the estimate on the number ultimately expected to be exercised	(72,798)	–
Exercised	(6,084,548)	–
Balance sheet at 30 June 2024	106,620	–
Change in the estimate on the number ultimately expected to be exercised	–	–
Exercised	(53,310)	–
Balance sheet at 30 June 2025	53,310	–

The expected life of the share options is based on options agreements and current expectations and is not necessarily indicative of exercise

patterns that may occur. The expected volatility reflects the assumption that historical volatility over a period similar to the life of the options is

indicative of future trends, which may not necessarily be the actual outcome.

29. Basic and

diluted earnings

per share

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

29. Basic and diluted earnings per share/continued

 Diluted earnings per share

Diluted earnings per share amounts are calculated by dividing net pro t for the year attributable to the equity holders of the parent by the

weighted average number of ordinary shares outstanding during the year plus the weighted average number of ordinary shares that would be

issued on conversion of all diluted potential ordinary shares (options described above) into ordinary shares.

The weighted average number of ordinary and potential diluted shares for the year ended 30 June 2025 and 30 June 2024 was as follows:

Calculation of weighted average for the year ended 30 June 2025	Number of shares	Par value (EUR)	Issued/365 (days)	Weighted average
Shares issued as at 30 June 2024	166,565,129	0.29	3	1,369,028
Disposal of own shares as at 3 July 2024	31,000	0.29	1	456,428
Disposal of own shares as at 4 July 2024	5,000	0.29	5	2,282,207
Disposal of own shares as at 9 July 2024	10,000	0.29	16	7,303,502
Disposal of own shares as at 25 July 2024	2,000	0.29	5	2,282,372
Disposal of own sharesas at 30 July 2024	1,000	0.29	6	2,738,862
Disposal of own shares as at 5 August 2024	1,000	0.29	137	62,537,733
Disposal of own shares as at 20 December 2024	5,000	0.29	179	81,712,337
Disposal of own shares as at 17 June 2025	6,000	0.29	1	456,510
Disposal of own shares as at 18 June 2025	1,000	0.29	12	5,478,152
Shares issued as at 30 June 2025	166,627,129			166,617,131

Calculation of weighted average for the year ended 30 June 2024	Number of shares 1	Par value (EUR)	Issued/365 (days)	Weighted average 1
Shares issued as at 30 June 2023	166,611,927	0.29	7	3,195,297
Disposal of own shares 7 July 2023	3,000	0.29	139	63,450,616
Change in the estimate on the number ultimately expected to be exercised 23 November 2023	(72,798)	0.29	49	22,357,710
Disposal of own shares 11 January 2024	23,000	0.29	171	78,034,622
Shares issued as at 30 June 2024	166,565,129			167,038,245

The calculation of diluted earnings per share is presented below:

	30/06/2025	30/06/2024 1
Net profit (loss), attributable to the shareholders of the parent (in EUR thousand)	60,692	24,913
Weighted average number of ordinary plus potential ordinary shares outstanding for the year	166,617,131	167,038,245
Diluted earnings per share (EUR)	0.36	0.15

In the prior year 2023/2024, the disclosure of the movement in the number of shares has been clarified. This adjustment had no impact on equity or profit.

29. Basic and

diluted earnings

per share

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

30. Financial assets and liabilities and risk management

Credit risk

None of the Group’s customers comprise more than 10% of the Group’s trade receivables. The Group evaluates the concentration of risk with

respect to trade receivables as low, as its customers are located in several jurisdictions and industries and operate in largely independent

markets.

The Group’s procedures are in force to ensure that sales are made to customers with an appropriate credit history and do not exceed an

acceptable credit exposure limit. As at 30 June 2025, part of the Group’s trade receivables were insured with the insurance limit equal to

equivalent of EUR 29,685 thousand (EUR 27,843 thousand – as at 30 June 2024).

The Group keeps stable cash and its equivalents, which reveals the Group's proper and prudent nancial management. As well, the positive

cash flow from operation activities ensures the company's ability to keep cash on hand in the event of economic market changes.

The Group does have a guaranteed obligations of other parties. The Company does have a guaranteed obligation for the Group’s companies

(Note 31).

The maximum exposure to credit risk is represented by the carrying amount of each nancial asset, including derivative nancial instruments,

if any, in the statements of nancial position. Consequently, the Group’s management considers that its maximum exposure is reflected by the

amount of trade, related party and other accounts receivable and cash, net of allowance for doubtful accounts recognized at the reporting

date. Part of the trade and other accounts receivable is secured with pledged assets (Notes 11 and 12).

The risk of counterparties defaulting is managed by entering into transactions with reliable nancial institutions (or subsidiaries of such

institutions) with a long-term credit rating (in foreign currency). The Group’s major part of the transactions with the nancial institutions are not

lower than “A” – according to the rating agency Fitch Ratings (or an equivalent rating of other rating agencies).

Interest rate risk

A major part of the Group’s borrowings is with variable rates, related to EURIBOR which creates an interest rate risk.

The sensitivity analysis of the pre-tax pro t of the Group, considering that all other variables will remain constant, to possible changes in the

interest rates is presented in the table below. There is no direct effect to equity from changes in interest rate.

Liquidity risk

The Group’s policy is to maintain suf cient cash and cash equivalents or have available funding through an adequate amount of committed

credit facilities to meet its commitments at a given date in accordance with its strategic plans. The Group’s liquidity (total current assets / total

current liabilities) and quick ((total current assets – crops, current portion of animals and livestock and inventories) / total current liabilities)

ratios as at 30 June 2025 were 1.34 and 0.82 respectively (as at 30 June 2024, 1.28 and 0.74, respectively).

30. Financial assets

and liabilities and risk

management

		Effect on the profit before income tax for the year ended (in EUR thousand)
	Increase	Increase
	(decrease) of basis		30/06/2025	(decrease) of	30/06/2024
	points	basis points
Euro (EUR)	+150		(5,082)	+150	(3,998)
Euro (EUR)	-30		1,016	-30	800

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

30. Financial assets and liabilities and risk management/continued

The tables below summarize the maturity pro le of the Group’s and the Company’s nancial liabilities based on contractual undiscounted

payments (scheduled payments including interest).

Group	On demand	Less than 3	3 to 12 months	1 to 2 years	2 to 5 years	More than 5	Total
		months				years
Non-current borrowings	1,900	3,257	17,115	28,407	34,850	169	85,698
Lease liabilities	3,413	2,301	8,894	10,512	17,598	18,129	60,847
Current borrowings	21,292	70,554	115,176	-	-	-	207,022
Trade payables	10,410	128,281	46,544	-	-	-	185,235
Payables to related parties	-	272	-	-	-	-	272
Derivative financial instruments	-	161	-	-	-	-	161
Balance as at 30 June 2024	37,015	204,826	187,729	38,919	52,448	18,298	539,235
Non-current borrowings	-	5,186	22,917	57,570	38,370	8,156	132,199
Lease liabilities	1	3,050	9,488	11,167	20,625	19,739	64,070
Non-current payables to related party	-	-	-	1,729	-	-	1,729
Current borrowings	-	135,468	107,355	-	-	-	242,823
Trade payables	3,741	112,655	55,697	-	-	-	172,093
Payables to related parties	-	384	-	-	-	-	384
Derivative financial instruments	-	239	12	-	-	-	251
Balance as at 30 June 2025	3,742	256,982	195,469	70,466	58,995	27,895	613,549

Company	On demand	Less than 3	3 to 12 months	1 to 2 years	2 to 5 years	More than 5	Total
		months				years
Non-current borrowings	-	-	7,052	6,722	21,245	-	35,019
Lease liabilities	-	16	821	835	2,503	11,770	15,945
Current borrowings	1,844	-	-	-	-	-	1,844
Payables to related parties	-	-	17,799	-	-	-	17,799
Trade payables	-	55	-	-	-	-	55
Balance as at 30 June 2024	1,844	71	25,672	7,557	23,748	11,770	70,662
Non-current borrowings	-	329	6,146	21,237	-	-	27,712
Lease liabilities	-	15	855	833	2,496	11,149	15,348
Current borrowings	-	7,952	-	-	-	-	7,952
Payables to related parties	-	5,360	2,755	-	-	-	8,115
Trade payables	-	18	-	-	-	-	18
Balance as at 30 June 2025	–	13,674	9,756	22,070	2,496	11,149	59,145

The Company liquidity (total current assets / total current liabilities) and quick ((total current assets – crops, current portion of animals and

livestock and inventories) / total current liabilities) ratios as at 30 June 2025 were 1.25 and 1.25 respectively (as at 30 June 2024 – 0.79 and

0.79, respectively).

As at 30 June 2025, the Company reported a net current assets position of EUR 5,629 thousand (as at 30 June 2024 – net current liability

position of EUR 5,519 thousand). In addition, the Company is able to ensure timely ful lment of its remaining current liabilities with receivable

dividends from earned and distributable pro t of subsidiaries. No dividends are expected from the subsidiaries from Latvia and Estonia. The

nancial statements have been prepared on a going concern basis.

30. Financial assets

and liabilities and risk

management

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

30. Financial assets and liabilities and risk management/continued

Foreign exchange risk

Major currency risks of the Group occur due to the fact that the Group borrows foreign currency denominated funds as well as is involved in

imports and exports. The Group’s policy is to match cash flows arising from highly probable future sales and purchases in each foreign

currency. When the Group opens a position in USD (i.e., goods are bought in USD and sold in EUR or vice versa), it manages USD exposure

by changing positions in its credit line, i.e., buys or sells USD to close the open position.

The major part of the Group’s monetary assets and liabilities as at both 30 June 2025 and 2024 are denominated in EUR, consequently the

management of the Group believes that foreign exchange risk on EUR is insigni cant. The Group used nancial derivatives to manage the USD

foreign currency exchange risk.

Monetary assets and liabilities stated in various currencies as at 30 June 2025 and 30 June 2024 were as follows (EUR equivalent):

		30/06/2025		30/06/2024
Group
	Assets	Liabilities	Assets	Liabilities
Euro (EUR)	392,567	622,983	340,088	546,787
US Dollar (USD)	4,610	3,954	1,516	12,142
Danish Krone (DKK)	560	27	29	15
Polish zloty (PLN)	644	138	1,002	63
Belarusian ruble (BYN)	2,467	3,117	2,284	2,389
British Pound Sterling (GBP)	–	540	33	73
Other	38	47	29	72
	400,886	630,806	344,981	561,541

The following table demonstrates the sensitivity to a reasonably possible change in respect of currency exchange rate, with all other variables

held constant of the Group’s pro t before tax (due to change in the fair value of monetary assets and liabilities).

	Increase/ decrease		Effect on the profit before income tax
	in exchange rate
			for the year ended (in EUR thousand)
		30/06/2025	30/06/2024
US Dollar (USD)	+15.00%		98	(1,594)
US Dollar (USD)	- 15.00%		(98)	1,594
Polish zloty (PLN)	+15.00%		76	141
Polish zloty (PLN)	- 15.00%		(76)	(141)
Belarusian ruble (BYN)	+15.00%		(97)	(16)
Belarusian ruble (BYN)	- 15.00%		97	16

The sensitivity of the Danish Krone, the British Pound Sterling and the Ukrainian Hryvnia to a reasonable change is not disclosed as it is not

signi cant to the nancial statements.

30. Financial assets

and liabilities and risk

management

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

30. Financial assets and liabilities and risk management/continued

Changes in liabilities arising from financing activities

Strategy for managing financial risks arising from biological assets

The Group is engaged in wholesale trade of milk, therefore, is exposed to risks arising from changes in milk prices. The Group’s wholesale

agreements for milk not related with nancial instruments but represent a signi cant price risk. The Group does not anticipate that milk prices

will be in prolonged decline in the foreseeable future (at current period price increase noted) and, therefore, has not entered into derivative or

other contracts to manage the risk of the decline in milk prices. The Group reviews its outlook for milk prices regularly in considering the need

for active risk management.

The column ‘Other movemements’ includes the recognition of new lease contracts, the accrual of interest payable, the remeasurement of lease liabilities, the effect of exchange rate changes, changes in

supplier factoring, as well as other non-cash movements.

To ensure comparability, the comparative information for 2023/2024 in the financial statements has been adjusted to reflect certain presentation changes.

30. Financial assets

and liabilities and risk

management

Group	01/07/2024	Cash flows to/(from)	Acquisition of subsidiary	New leases	Other movements 1	30/06/2025
		financing activities	(Note 3)
Loans	266,898	56,872	17,338	–	(1 792)	339,316
Grants	8,415	3,589	–	–	(692)	11,312
Interest (paid)	–	(22,286)	–	–	–	–
Dividends	–	(5,391)	–	–	–	–
Lease liabilities	50,726	(10,944)	805	14,575	(2,628)	52,534
	326,039	21,840	18,143	14,575	(5,112)	403,162

		Cash flows to/(from)	Acquisition of subsidiary			12	2
Group	01/07/2024			New leases	Other movements	30/06/2024
		financing activities	(Note 3)
Loans	282,414	(4,767)	–	–	(10,749)		266,898
Grants	9,367	3,451	–	–	(4,403)		8,415
Interest (paid)	–	(22,899)	–	–	–	–
Dividends	–	(4,169)	–	–	–	–
Lease liabilities	45,918	(13,436)	365	21,136	(3,257)		50,726
	337,699	(41,820)	365	21,136	(18,409)		326,039

		Cash flows to/(from)	Acquisition of subsidiary		1
Company	01/07/2024			New leases	Other movements	30/06/2025
		financing activities	(Note 3)
Loans	50,900	4,750	–	–	(13,324)	42,326
Interest (paid)	–	(2,161)	–	–	–	–
Dividends	–	(4,995)	–	–	–	–
Lease liabilities	12,551	(219)	–	221	(323)	12,230
	63,451	(2,625)	–	221	(13,647)	54,556

		Cash flows to/(from)	Acquisition of subsidiary			1 2
Company	01/07/2024			New leases	Other movements	30/06/2024
		financing activities	(Note 3)
Loans	65,630	9,520	–	–	(24,250)	50,900
Interest (paid)	–	(2,287)	–	–	–	–
Dividends	–	(4,169)	–	–	–	–
Lease liabilities	11,346	(830)	–	1,732	303	12,551
	76,976	2,234	–	1,732	(23,947)	63,451

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

30. Financial assets and liabilities and risk management/continued

Strategy for managing financial risks arising from derivative instruments

• Derivatives not designated as hedging instruments

The Group uses foreign exchange forward and swap contracts to manage some of its transaction exposures. The foreign exchange forward

contracts are not designated as cash flow hedges and are entered into for periods consistent with foreign currency exposure of the underlying

transactions, generally from one to 12 months.

• Derivatives designated as hedging instruments

 Fair value hedges

 Commodity price risk

The Group purchases/sells agriculture production on an ongoing basis as some contracts have a xed purchase price. Some of such contracts

are not covered with a xed price. As grains are commodities, the prices of them are largely determined by the market, thus, the Sellers and

the Buyers of grain negotiate and set the sales price close to the market price, however, if the price is set using variable method the Sellers

are responsible for choosing when to x the MATIF price. MATIF a commodity exchanged which provides the floating rates for grain.

To manage the emerging risk of price fluctuations, the Group has entered into MATIF futures contracts, which the Group trades on the stock

exchange NYSE Euronext Paris SA. To hedge the risk of rapeseed oil and rapeseed meal prices, the Group uses over-the-counter transactions,

which traded on the over-the-counter markets of Rotterdam and Neuss Spyck.

These contracts, are expected to reduce the volatility attributable to price fluctuations of grains trade. Hedging the price volatility of forecast

grains purchases/sales is in accordance with the risk management strategy outlined by the Group.

There is an economic relationship between the hedged items and the hedging instruments as the terms of commodity forward contracts match

the terms of the expected highly probable forecast transactions (i.e., notional amount and expected payment date). The Group has established

a hedge ratio of 1:1 for the hedging relationships as the underlying risk of the commodity forward contracts are identical to the hedged risk

components. To test the hedge effectiveness, the Group uses the hypothetical derivative method and compares the changes in the fair value

of the hedging instruments against the changes in fair value of the hedged items attributable to the hedged risks.

Hedging inef ciencies can arise from:

• Different indexes (and accordingly different curves) linked to the hedged risk of the hedged items and hedging instruments;

• Differences in timing of cash flows of the hedged item and hedging instrument;

• The counterparties’ credit risk differently impacting the fair value movements of the hedging instrument and hedged item.

For more information see Note 13.

 Cash flow hedges

 Commodity price risk

The Group purchases grains and gas needed for its manufacturing process of various products: combined feed, flour, poultry and other. In

grain and gas market, when concluding purchase contracts, the prices are not known and change until they are xed . The MATIF values are

used when determining grain prices. To manage the emerging risk of grain price fluctuations, the Group has entered into MATIF futures

contracts. To manage the emerging risk of gas price fluctuations, the Group has entered into gas future contracts. The Group uses a layering

tactic where price xing is done for the planned quantity in parts (in parts, 5% - 10% of the total amount). The insured object is future cash

flows for energy for expenses. As the Group carries out and plans to continue to carry out production activities, it can estimate future energy

needs.

30. Financial assets

and liabilities and risk

management

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

30. Financial assets and liabilities and risk management/continued

These grains and gas future contracts, are expected to reduce the volatility attributable to price fluctuations of grains and gas in Group

manufacturing process. Hedging the price volatility of forecast grains and gas purchases is in accordance with the risk management strategy

outlined by the Group.

There is an economic relationship between the hedged items and the hedging instruments as the terms of commodity forward contracts match

the terms of the expected highly probable forecast transactions (i.e., notional amount and expected payment date). The Group has established

a hedge ratio of 1:1 for the hedging relationships as the underlying risk of the commodity forward contracts are identical to the hedged risk

components. To test the hedge effectiveness, the Group uses the hypothetical derivative method and compares the changes in the fair value

of the hedging instruments against the changes in fair value of the hedged items attributable to the hedged risks.

Hedging inefficiencies can arise from:

• Differences in the timing of the cash flows of the hedged items and the hedging instruments;

• Different indexes (and accordingly different curves) linked to the hedged risk of the hedged items and hedging instruments;

• The counterparties’ credit risk differently impacting the fair value movements of the hedging instruments and hedged items;

• Changes to the forecasted amount of cash flows of hedged items and hedging instruments.

For more information see Note 13.

Market price risk

The Group is exposed to the grain market price risk which is managed with the hedge accounting described in Note 13.

Fair value of financial instruments

The Group’s principal nancial instruments not carried at fair value are trade, related party and other accounts receivable, trade, related party

and other payables, non-current and current borrowings.

Fair value is de ned as disclosed in Note 2.18. Fair values of assets and liabilities are obtained from quoted market prices, discounted cash

flow models and option pricing models as appropriate.

The carrying amounts of the Group’s nancial assets and liabilities (which are not carried at fair value) approximate fair value and are classi ed

as level 3 according to the fair value hierarchy described in the Note 2.18.

The following methods and assumptions are used to estimate the fair value of each class of nancial instruments:

 The carrying amount of trade, related party and other accounts receivable, current trade, related party and other accounts payable

and current borrowings approximates fair value (level 3).

 The fair value of non-current debt is based on discounting future cash flows related to debt using market interest rate and also

considering own credit risk immaterial. The fair value of non-current borrowings with variable and xed interest rates approximates

their carrying amounts (level 3) .

Capital management

For capital management purposes the Group’s capital is equal to total equity in the statement of nancial position amounting to EUR 368,231

as at 30 June 2025 (EUR 312,319 thousand as at 30 June 2024).

The primary objective of the Group’s capital management is to ensure that it maintains a strong creditworthiness and healthy capital ratios in

order to support its business and maximize shareholder value. The Group holds high capital for possible future expansion and further

development of the Group.

The Group manages its capital structure and adjusts it in the light of changes in economic conditions and the risk characteristics of its activities.

To maintain or adjust the capital structure, the Group may adjust the dividend payment to shareholders, return capital to shareholders or issue

new shares. No changes were made in the objectives, policies or processes during the years ended 30 June 2025 and 30 June 2024 .

30. Financial assets

and liabilities and risk

management

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

30. Financial assets and liabilities and risk management/continued

The Company and the Group’s subsidiaries registered in Lithuania and Estonia are obliged to keep its equity at no less than 50% of its share

capital, as imposed by the Laws on Companies of the Republic of Lithuania and the Republic of Estonia. As at 30 June 2025 the both Company

and the Group’s subsidiaries registered in Lithuania and Estonia comply with this requirement, except the subsidiaries KG Esesti OU, Dotnuva

Rent UAB, Dotnuva Baltic AS, Avocete UAB and Linas Agro OU.

As at 30 June 2024 all the subsidiaries registered in the Lithuania and Estonia complied with the requirements, except the subsidiaries

Kaišiadorių paukštyno mažmena UAB, Baltoji Plunksnele KB, Uogintai UAB, KG Esesti OU, Dotnuva Rent UAB, Akola poultry UAB, Linas Agro

OU.

As at 30 June 2025 Group’s subsidiaries registered in the Republic of Latvia are obligated to keep their equity higher than zero, as it is imposed

by the Laws on Companies of the Republic of Latvia. All the subsidiaries, except Dotnuva Baltic SIA and Kekava Bioenergy SIA, complied with

the requirements (as at 30 June 2024 – all the subsidiaries, except SIA PFK Trader, complied with the requirements).

The Group and the Company manages capital using a leverage ratio, which is 1 minus total equity divided by total assets of the Group and the

Company. The Group’s policy is to keep the leverage ratio below 75%.

30. Financial assets

and liabilities and risk

management

		Group		Company
	30/06/2025	30/06/2024	30/06/2025	30/06/2024
Total equity	368,231	312,319	213,807	201,048
Total assets	1,014,272	886,061	269,224	265,328
Total equity / Total assets	36%	35%	79%	76%
Leverage ratio	64%	65%	21%	24%

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

31. Commitments and contingencies

The Group companies have received grants from both the European Union and National Paying Agency (Lithuania and Latvia):

 For acquisition of agricultural equipment and the implementation of other projects. The Group companies are committed not to discontinue

operations related to agricultural and elevators activity during the periods specified below:

 UAB Linas Agro grūdų centrai – until 2028;

 Labūnavos ŽŪB – from 2027 to 2031;

 Sidabravo ŽŪB – until 2028;

 Žibartonių ŽŪB – until 2027;

 Lukšių ŽŪB – from 2027 to 2033;

 Aukštadvario ŽŪB – until 2030.

In case of non-compliance with the requirements the Group companies will have to return funds received to the state of Lithuania amounting

to EUR 6,591 thousand as at 30 June 2025 (as at 30 June 2024 – EUR 2,870 thousand.)

 For poultry farm, feedstuffs production, storages upgrade and the implementation of other projects. The Group companies are committed

not to discontinue operations related to poultry activity until the years specified below:

 AS Kekava foods – from 2025 to 2030;

 AB Vilniaus paukštynas – from 2027 to 2030;

 AB Kaišiadorių paukštynas – from 2025 to 2029;

 UAB Lietbro – from 2028 to 2029;

 UAB Domantonių paukštynas – from 2027 to 2030;

 UAB Alesninkų paukštynas – from 2027 to 2030;

 AB Zelve – until 2030.

In case of non-compliance with the requirements the Group companies will have to return funds received to the state of both Lithuania and

Latvia amounting to EUR 2,697 thousand as at 30 June 2025 (as at 30 June 2024 – EUR 856 thousand).

 For food production equipment, its modernisation, and the implementation of other projects. The Group companies are committed not to

discontinue operations related to food production activity until the years specified below:

 AB Kauno grūdai – until 2029;

 AB Šlaituva – until 2029.

In case of non-compliance with the requirements the Group companies will have to return funds received to the state of both Lithuania

amounting to EUR 1,389 thousand as at 30 June 2025.

The Group has no plans to discontinue the above-mentioned activities.

As at 30 June 2025 the Group has guaranteed EUR 4,530 thousand (as at 30 June 2024 – EUR 2,433 thousand) for the third parties to Banks

for the granted loans.

As at 30 June 2025, the Company has guaranteed EUR 139,807 thousand (30 June 2024 – EUR 169,794 thousand) for the Group’s companies

to Banks for the granted loans.

Almex, former customer, has led an appeal to the Court of Appeal in Serbia regarding the refusal of the Commercial Court to rule in the case

concerning the alleged damages of EUR 1,800 thousand. As at 30 June 2025 and as at 30 June 2024 the Group‘s management is of the

opinion that the appeal has no sound grounds, therefore no provision was recorded in the consolidated accounts regarding this matter.

31. Commitments and

contingencies

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

31. Commitments and contingencies/cont‘d

A contingent liability of the Group company AB Vilniaus paukštynas arises from environmental regulatory requirements related to the emission

source at its Rudamina division. On 17 November 2023, the Environmental Protection Department under the Ministry of Environment issued a

mandatory order to the Group company to cease excessive pollutant emissions at the Rudamina division and, once the emissions are

eliminated, to notify the Department and provide supporting documentation.

By a ruling dated 18 September 2024, the court upheld the Group company’s request for the application of interim measures.

The respondent – the Environmental Protection Department under the Ministry of Environment – did not object to the Group company’s request

for such interim measures. The above-mentioned ruling has entered into legal force.

Accordingly, AB Vilniaus paukštynas has prepared and is implementing an emission reduction action plan agreed with the Environmental

Protection Department under the Ministry of Environment. The purpose of this plan is to eliminate pollution-related risks and ensure that the

company’s operations comply with applicable environmental requirements. The Group company periodically submits implementation reports

to the authorities, providing descriptions of the measures carried out.

The total planned investment amounts to EUR 4,000 thousand. Of this, EUR 2,400 thousand had already been invested by the end of the

reporting period, while the remaining amount (approximately EUR 1,600 thousand) is planned for the following nancial years and will be

nanced from the Group company’s ordinary operating cash flows. All measures are scheduled to be implemented by the end of 2025. The

project is currently being executed in line with the planned schedule, without deviations or material delays. On basis of these long-term

investments the Group company is committed to acquire property, plant and equipment (Note 5).

In the opinion of the Group’s management, no additional signi cant outflow of resources beyond the scope of the already planned investments

is expected, as all measures have been pre-planned and agreed with the authorities.

There is a risk that, if the emission reduction measures are not implemented according to the agreed schedule or if the achieved results do

not meet the requirements set by the authorities, administrative penalties may be imposed. Under the current regulations, the maximum ne

that may be imposed amounts to EUR 3 thousand. Considering the current progress of the project, management of the Group assesses the

likelihood of such a ne being imposed as low.

Permit risk – under adverse circumstances, the Integrated Pollution Prevention and Control (IPPC) permit could be subject to revocation. Such

risk may materialize if the modernisation plan is not implemented as scheduled or if the authorities revise the assessment methodology and

introduce new environmental parameters.However, given that the Group company is implementing the modernisation plan in accordance with

the agreed schedule, that the authorities have acknowledged inaccuracies in the pollution assessment methodology, and that the revocation

process is lengthy and complex, management of the Group considers this risk to be low.

31. Commitments and

contingencies

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

32. Related parties‘ transactions

The parties are considered related when one party has the possibility to control the other or have signi cant influence over the other party in

making nancial and operating decisions. A close member or the family of the key management personnel is considered to be related parties.

The related parties of the Company and the Group as at 30 June 2025 and 30 June 2024 are listed below.

Akola ApS Group companies:

 Akola ApS (Denmark), immediate parent entity;

 UAB Darius Zubas Holding (Lithuania), ultimate parent entity;

 UAB MESTILLA (Lithuania), sister entity.

Key management personnel:

 Key management personnel of the Company and both immediate and ultimate parent entities:

 The Management Board;

 The Supervisory Board;

 The Audit Committee;

 Chief Executive Of cer;

 Deputy Chief Executive Of cer;

 Chief Financial Of cer.

 Members of the Management Board:

 Darius Zubas (Chairman of the Board, ultimate controlling shareholder);

 Arūnas Zubas;

 Andrius Pranckevičius;

 Mažvydas Šileika;

 Jonas Bakšys.

 Members of the Supervisory Board:

 Tomas Tumėnas (Chairman of the Supervisory Board);

 Arūnas Bartusevičius (independent member);

 Carsten Højland (independent member).

 Members of the Audit Committee:

 Lukas Kuraitis (Chairman of the Audit Committee, independent member of the Committee);

 Arūnas Bartusevičius (independent member of the Committee);

 Skaistė Malevskienė (independent member of the Committee).

Subsidiaries, associates and joint ventures: See Note 3 for a list.

Related parties through the Company's key management personnel:

 UAB "Dvi T" - 100 % owned by Jonas Bakšys;

 UAB Vividum is jointly owned by Jonas Bakšys and his spouse;

 UAB "Kirtimų logistikos centras" - 100% of the shares are owned by Skaistė Malevskienė's spouse, who is the nal bene ciary;

 UAB "Kirtimų logistika" - 100% of the shares are owned by Skaistė Malevskienė's spouse, who is the nal bene ciary;

 Urban Properties UAB - 100% of the shares are owned by Skaiste Malevskienė's spouse, who is the nal bene ciary;

 Agmesta UAB - 100% of the shares are owned by Skaiste Malevskienė's spouse, who is the ultimate bene ciary.

 UAB Triangle Group - 100% of the shares belong to Skaistė Malevskienė's spouse, who is the ultimate bene ciary.

32. Related parties’

transactions

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

32. Related parties‘ transactions/continued

The Group's transactions with related parties during the financial years ended 30 June 2025 and 30 June 2024:

• 2024/2025

		Revenue from				Non-current loans
		contracts with	Expenses from	Income from	Current	receivable/ Non-	Contract liabilities to	Payables to
	Purchases	customers/Other	financial activities	financial activities	receivables from	current	related parties	related parties
		income			related parties	prepayments for
						financial assets
Akola ApS group companies	6,158	35,102	–	–	8	–	196	2,113
KG Khumex B.V.	–	–	–	7	–	–	–	–
UAB OMG Bubble Tea	–	–	–	155	–	194	–	–
Brite Drinks Ltd	5	–	–	–	–	600	–	–
	6,163	35,102	–	162	8	794	196	2,113

• 2023/2024

		Revenue from				Non-current loans
		contracts with	Expenses from	Income from	Current	receivable/ Non-	Contract liabilities to	Payables to
	Purchases	customers/Other	financial activities	financial activities	receivables from	current	related parties	related parties
		income			related parties	prepayments for
						financial assets
Akola ApS group companies	3,137	42,097	69	–	268	–	–	272
KG Khumex B.V.	19	22,194	–	–	2,090	–	–	–
KG Khumex Coldstore B.V.	–	–	–	13	–	550	–	–
UAB OMG Bubble Tea	–	–	–	40	40	900	–	–
	3,156	64,291	69	53	2,398	1,450	–	272

The Company's transactions with related parties during the financial years ended 30 June 2025 and 30 June 2024:

• 2024/2025

		Revenue from				Non-current loans
		contracts with	Expenses from	Income from	Current	receivable/ Non-	Contract liabilities to	Payables to
	Purchases	customers/Other	financial activities	financial activities	receivables from	current	related parties	related parties
		income/ Dividend			related parties	prepayments for
		income				financial assets
Akola ApS Group companies	–	3	–	–	4	–	–	–
UAB OMG Bubble Tea	–	–	–	155	–	194	–	–
Brite Drinks Ltd	1	–	–	–	–	600	–	–
Subsidiaries	184	24,118	778	1,393	26,611	–	–	8,115
`	185	24,121	778	1,548	26,615	794	–	8,115

• 2023/2024

		Revenue from				Non-current loans
		contracts with	Expenses from	Income from	Current	receivable/ Non-	Contract liabilities to	Payables to
	Purchases	customers/Other	financial activities	financial activities	receivables from	current	related parties	related parties
		income/ Dividend			related parties	prepayments for
		income				financial assets
Akola ApS Group companies	–	–	69	–	–	–	–	–
UAB OMG Bubble Tea	–	–	–	40	40	900	–	–
Subsidiaries	1	39,701	1,404	1,187	19,310	3,500	–	17,335
`	1	39,701	1,473	1,227	19,350	4,400	–	17,335

32. Related parties’

transactions

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

32. Related parties‘ transactions/continued

As at 30 June 2025, interest rates of the Company for current loans receivable from related parties are 3.25% and 6.5% (as at 30 June 2024 –

3.5% and 6.5%), non-current loans receivables from related parties are 5.5% (as at 30 June 2024 – 6%).

As at 30 June 2025, interest rates of the Company for current loans payable to related parties are 3-month EURIBOR + 2.7% margin, 6.5% and

5%. As at 30 June 2024, interest rates of the Company for current loans payable to related parties are 3-month EURIBOR + 2.2% margin, 6.5%

and 5%, interest rates of non-current loans of the Company payable to related parties are 3.2%.

Receivables and payables from / to related parties will be settled in cash or offset with the payables / receivables from / to respective related

parties.

Terms and conditions of the nancial assets and liabilities:

 Receivables from related parties are non-interest bearing and are normally settled on 30-day terms.

 Payables to related parties are non-interest bearing and are normally settled on 30-90-day terms.

 Interest is applied to loans received from and granted to related parties. Interest payable is normally settled at the end of the loan

term.

On both 30 June 2025 and 30 June 2024 there was no impairment formed for the Group’s receivables from related parties.

The Group’s transactions with key management personnel in 12-month period ended 30 June 2025 and 30 June 2024 were as

follows:

The amounts disclosed in the table are the amounts recognised as an expense during the reporting period related to key management

personnel.

On both 23 November 2023 and 24 November 2023 Key management personnel submitted notice to the Company regarding the exercise of

the options based under the share-option agreements signed on both 29 June 2018 and 28 February 2020. On 8 December 2023 Key

management personnel acquired 3,879,032 shares (EUR 2,285 thousand). The shares are fully paid with the Company’s funds from the share-

based payment reserve established by the Company, through the issuance of new Company shares.

On 29 November 2024 Key management personnel submitted notice to the Company regarding the exercise of the options based under share-

option agreement signed on 29 November 2021. On 2 December 2024 Key management personnel acquired 53,310 shares

(EUR 50 thousand). The shares are fully paid with the Company’s funds from the share-based payment reserve established by the Company,

by granting the Company’s own shares.

In a nancial year 2024/2025 EUR 783 thousand of dividends were paid to the key management personnel of the nancial year ended as at 30

June 2024. (In the nancial year 2023/2024 EUR 590 thousand of dividends had been paid for the nancial year ended 30 June 2023).

32. Related parties’

transactions

	2024/2025	2023/2024
Short-term employee benefits - Wages, salaries and other	1,771	1,853
Payment for work in the Management Board	132	83
Payments for work in Audit Committee	4	2
Payments for work in Supervisory Board	67	67
Post-Employment pension and medical benefits	1	4
Share-based payments transactions	27	56
	2,002	2,065

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

33. Partly owned subsidiaries

Financial information of subsidiaries that have material non-controlling interests is provided below.

Proportion of equity interest held by non-controlling interests:

	Country of				Country of
Company name	incorporation and	30/06/2025	30/06/2024	Company name	incorporation and	30/06/2025	30/06/2024
	operation				operation
AB Kauno Grūdai	Lithuania	10.38%	10.41%	KG Polska Sp.zo.o.	Poland	10.38%	10.41%
UAB Grybai LT	Lithuania	10.38%	10.41%	Nordic Agro Investment Limited	United Kingdom	10.38%	10.41%
UAB Šlaituva	Lithuania	10.38%	10.41%	UAB Dotnuva Seeds	Lithuania	2.21%	2.22%
UAB Baltic Fumigation Service	Lithuania	10.38%	10.41%	OOO KLM	Belarus	37.27%	37.28%
UAB KG Mažmena	Lithuania	10.38%	10.41%	SIA Dotnuva Seeds	Latvia	2.21%	2.22%
AB Zelvė	Lithuania	32.62%	27.62%	Aukštadvario ŽŪB	Lithuania	0.46%	0.46%
UAB Jungtinė ekspedicija	Lithuania	2.21%	2.22%	Labūnavos ŽŪB	Lithuania	1.05%	1.05%
AB Vilniaus Paukštynas	Lithuania	14.98%	14.98%	Lukšių ŽŪB	Lithuania	1.18%	1.18%
UAB Lietbro	Lithuania	14.98%	14.98%	Medeikių ŽŪB	Lithuania	1.61%	1.61%
UAB Avocetė (Under liquidation)	Lithuania	14.98%	14.98%	Sidabravo ŽŪB	Lithuania	3.75%	3.75%
KB Baltoji Plunksnelė (Liquidated)	Lithuania	–	16.55%	Žibartonių ŽŪB	Lithuania	0.10%	0.10%
AB Kaišiadorių Paukštynas	Lithuania	14.67%	14.69%	Nemuno ūkis ŽŪB	Lithuania	32.02%	32.02%
UAB Domantonių Paukštynas	Lithuania	14.94%	10.49%	AS Kekava Foods	Latvia	2.33%	2.42%
UAB Kaišiadorių Paukštyno Mažmena	Lithuania	–	14.69%	SIA PFK Trader	Latvia	2.33%	2.42%
(Liquidated)
UAB Uogintai (Liquidated)	Lithuania	–	14.69%	AB Linas Agro	Lithuania	2.21%	2.22%
SIA Kekava Bioenergy	Latvia	2.33%	2.42%	UAB Linas Agro Grūdų Centrai	Lithuania	2.21%	2.22%
UAB Alesninkų Paukštynas	Lithuania	14.67%	14.69%	SIA Linas Agro	Latvia	2.73%	2.74%
UAB VP Valda	Lithuania	14.98%	14.98%	UAB Gerera (Liquidated)	Lithuania	–	2.22%
UAB KP Valda	Lithuania	14.67%	14.69%	Linas Agro A/S (under liquidation)	Denmark	2.21%	2.22%
SIA KG Latvija	Latvia	10.38%	10.41%	LLC LINAS AGRO UKRAINE	Ukraine	2.21%	2.22%
KG Eesti OÜ	Estonia	10.38%	10.41%	Linas Agro OŰ	Estonia	2.21%	2.22%
SIA LABIBAS SARGS	Latvia	10.38%	0.00%	UAB Geoface	Lithuania	2.21%	2.22%
SIA Linas Agro Graudu Centrs	Lithuania	2.40%	2.22%

33. Partly owned

subsidiaries

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

33. Partly owned subsidiaries/continued

The summarized nancial information of these subsidiaries is provided below. This information is based on amounts before inter-company

eliminations.

Summarized statement of profit (loss) and other comprehensive income

• Financial year ended 30 June 2025

	AB Kauno	AB Vilniaus	AB Kaišiadorių	SIA KG Latvija	Other
	Grūdai	Paukštynas	Paukštynas
Revenue from contracts with customers	361,394	230,921	40,982	26,213	921,189
Net profit (loss)	8,764	22,462	248	86	29,132
Total comprehensive income:	8,764	22,462	248	86	29,132
Attributable to non-controlling interests	910	3,364	36	9	2,103
Dividends paid to non-controlling interests	116	264	–	–	16

• Financial year ended 30 June 2024

	AB Kauno	AB Vilniaus	AB Kaišiadorių	SIA KG Latvija	Other
	Grūdai	Paukštynas	Paukštynas
Revenue from contracts with customers	309,174	199,944	39,574	31,430	926,117
Net profit (loss)	8,271	6,666	85	388	9,503
Total comprehensive income:	8,271	6,666	85	388	9,503
Attributable to non-controlling interests	861	999	12	40	880
Dividends paid to non-controlling interests	1,282	–	–	–	103

Summarized statement of financial position

• Financial year ended 30 June 2025

	AB Kauno	AB Vilniaus	AB Kaišiadorių	SIA KG Latvija	Other
	Grūdai	Paukštynas	Paukštynas
Current assets	132,361	46,907	6,141	8,072	474,884
Non-current assets	127,708	43,599	15,006	1,997	157,597
Current liabilities	(108,567)	(40,394)	(6,979)	(4,717)	(336,544)
Non-current liabilities	(27,667)	(7,170)	(2,726)	(99)	(111,178)
Total equity:	(116,615)	(33,703)	(8,815)	(3,100)	(182,483)
Attributable to non-controlling interests	(7,220)	(9,239)	(2,627)	(2,153)	(2,276)

• Financial year ended 30 June 2024

	AB Kauno	AB Vilniaus	AB Kaišiadorių	SIA KG Latvija	Other
	Grūdai	Paukštynas	Paukštynas
Current assets	104,970	34,875	8,758	8,771	440,121
Non-current assets	113,010	35,684	14,369	2,008	123,496
Current liabilities	(84,234)	(43,313)	(8,482)	(5,475)	(324,231)
Non-current liabilities	(17,457)	(4,470)	(2,955)	(72)	(83,054)
Total equity	(111,478)	(25,751)	(9,420)	(3,088)	(156,332)
Attributable to non-controlling interests	(4,811)	(2,976)	(2,271)	(2 144)	(4,483)

33. Partly owned

subsidiaries

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

33. Partly owned subsidiaries/continued

Summarized cash flow statement

• Financial year ended 30 June 2025

	AB Kauno	AB Vilniaus	AB Kaišiadorių	SIA KG Latvija	Other
	Grūdai	Paukštynas	Paukštynas
Net Cash flows from (to) operating activities	(28,163)	25,316	3,291	379	35,287
Net cash flows from (to) investing activities	(1,209)	(15,290)	(928)	(10)	(50,520)
Net cash flows from (to) financing activities	29,283	(8,876)	(2,372)	(173)	11,636
Net increase/(decrease) in cash and cash equivalents	(89)	1,150	(9)	196	(3,597)

• Financial year ended 30 June 2024

	AB Kauno	AB Vilniaus	AB Kaišiadorių	SIA KG Latvija	Other
	Grūdai	Paukštynas	Paukštynas
Net Cash flows from (to) operating activities	22,958	1,883	(2,109)	(1,335)	(11,553)
Net cash flows from (to) investing activities	(37,086)	2,940	401	1,276	17,942
Net cash flows from (to) financing activities	13,346	(4,717)	1,727	(178)	(16,146)
Net increase/(decrease) in cash and cash equivalents	(782)	106	20	(237)	(9,757)

33. Partly owned

subsidiaries

All amounts in thousands of euros, unless otherwise stated

AB Akola Group Consolidated and Company‘s nancial statements for the nancial year 2024/2025 ended 30 June 2025

34. Subsequent events

34. Subsequent

events

01/07/2025 AB Šlaituva and AB Grybai LT were merged to AB Kauno Grūdai.

10/07/2025

AB Kauno Grūdai increased credit line with AS Luminor Bank by EUR 15,000 thousand.

17/07/2025 AB Linas Agro extended the credit line agreement with AB Swedbank

, OP Corporate Bank plc Lithuanian branch. AB Linas Agro increased

the credit line limit with AB Swedbank to EUR 90,000 thousand. Total credit limit – EUR 140,000 thousand.

01/08/2025 SIA Dotnuva Seeds signed new credit line agreement with AS Swedbank in the amount of EUR 1,000 thousand.

28/08/2025 AS Kekava Foods signed loan agreement with AS Swedbank in the amount of EUR 2,100 thousand.

11/09/2025 AB Akola Farming signed an increase in the credit facility under its existing loan agreement with AS Luminor Bank by EUR 700 thousand.

18/09/2025 The Group has committed to invest EUR 2,750 thousand in Žibartonių ŽŪB and more than EUR 2,538

thousand in Sidabravo ŽŪB for the

modernization and expansion of their dairy farms, of which EUR 936 thousand will be nanced through European Union funding.