KER OPERATIONS UPDATE – IMPACT OF THE RUSSIAN WAR AGAINST UKRAINE

Kernel Holding S.A. (the “Company”) reports that combined Russian missile and drone attacks on the nights of 10–11 July and 11–12 July 2026 caused significant damage to the Company’s port infrastructure in Chornomorsk and disrupted operations. These were among the most severe attacks on the Company’s port assets in recent years, compounding the damage caused by previous Russian strikes in May and June 2026.
Direct and indirect strikes damaged grain, sunflower oil, and meal storage and transshipment infrastructure. Fortunately, no casualties among the Company’s employees were reported. The attacks resulted in the full suspension of transshipment operations at the Company’s affected port facilities. The timing for restoring operations remains uncertain and will depend on the completion of cleanup works and a full technical assessment of the required repairs. The assessment of the damage, related losses, and required capital expenditure is ongoing.