KER OPERATIONS UPDATE – IMPACT OF THE RUSSIAN WAR AGAINST UKRAINE

Kernel Holding S.A. (the “Company”) reports that its assets in Chornomorsk were damaged as a result of a Russian drone attack targeting port infrastructure in the Odesa region during the night of 24–25 December.
As a result of the attack, a vegetable oil storage tank and part of the production facilities were damaged, causing a fire and oil leakage. Fortunately, no casualties were reported. The Company is currently assessing the extent of the damage and the related losses.