Trigon Agri A/S convenes meeting of its bondholders to extend the maturity of its SEK 350 million bond

Trigon Agri A/S (the ‘Company’) has reached an understanding with bondholders
representing 38% of its SEK 350 million bonds regarding the terms for an
extension of the bonds, currently maturing on June 29, 2015. Based on this, the
Company has called for a meeting of the bondholders to be held on February 26,
2015 in Stockholm to put forward the amended terms and conditions for approval
by the bondholders. As an alternative to attend and vote at the meeting,
bondholders can vote by submitting a written resolution voting form in a written
procedure.

Trigon Agri has been actively working on carrying out its divestment strategy
which includes full disposal of its Russian and Estonian assets. The aim of the
divestment program is to generate proceeds in order to repay the outstanding
Bonds. Over the last couple of quarters this work has been slowed down by the
political and military situation in Ukraine and by extension Russia. Whilst this
has not caused any physical disruptions to the Company’s activities it has
inevitably made it harder to dispose non-core assets in the current environment.
The political uncertainty has also made it impossible to refinance the
outstanding bond with new borrowings. Therefore, the Company requests an
extension of the current bond in order to have more time to carry out its
divestment plan.

The new proposed terms and conditions include the extension of the bond maturity
to August 31, 2017. The interest rate will be kept unchanged at the current
level of 11 % per annum. As part of the new proposed terms and conditions the
Company agrees to post security for the bonds in the form of share pledges over
the shares of its material subsidiary companies, and undertakes that the same
subsidiaries provide agreed upon guarantees to the bondholders. Furthermore, the
Company has agreed to a step-up in the redemption payments to bondholders
depending upon the date of repayment (accordingly, the redemption payment will
be 101 % of the nominal amount if the redemption occurs during the period from
30 June 2015 to 31 December 2015; 104 % of the nominal amount if the redemption
occurs during the period from 1 January 2016 to 31 December 2016; 106 % of the
nominal amount if the redemption occurs during the period from January 2017 to
the final redemption date). The Company further undertakes to implement cost
saving measures by internalising certain management and advisory functions. The
Company undertakes to take all reasonable steps to divest its activities in
Estonia and Russia as soon as reasonably possible, given market conditions, and
to apply the proceeds from cost savings and disposals towards a full or partial
early redemption of the bonds (subject to further conditions and limited
exemptions). The Company agrees to new covenants restricting its ability to
declare dividends to its shareholders, carry out additional investments and take
on new borrowings unless approved by the committee to be set up to represent the
bondholders. Net capital expenditure on group level will be capped at EUR 6
million during the period from 1 January 2015 until the final redemption date.
Financial indebtedness on group level (excluding the bond itself) will be capped
at EUR 45 million. Detailed information on the proceedings and the new proposed
terms and conditions can be found on the following web-link: www.corpnordic.com.

In order to become effective the amendments to the terms and conditions of the
bonds need an approval by bondholders representing 75% of the bonds voting in
the bondholder meeting and the written procedure. The proceedings will have a
quorum and legal rights to execute such a decision, provided that bondholders
representing at least 20% of the bonds participate in the proceedings.

Trigon Agri Chairman of the Board Joakim Helenius comments: ‘Reaching an
agreement with the main bondholders on the extension of our outstanding bonds is
an important achievement for us and shows commitment from our stakeholders to
support our strategy in the current unpredictable and volatile environment. We
remain committed to restructuring our balance sheet by repaying our borrowings
using proceeds from the divestments of non-core assets. The extension provides
us additional time to carry this out in an efficient and proceeds optimising
manner for Trigon Agri.’.

For further information please contact:

Mr. Ülo Adamson, President and CEO of Trigon Agri A/S, Tel: +372 66 79200, E
-mail: mail@trigonagri.com

About Trigon Agri

Trigon Agri is a leading integrated soft commodities production, storage and
trading company with operations in Ukraine, Russia and Estonia. Trigon Agri’s
shares are traded on the main market of NASDAQ OMX Stockholm. Trigon Agri is
managed under a management agreement by Trigon Capital, a leading Central and
Eastern European operational management firm with around USD 1 billion of assets
under management.

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