KER OPERATIONS UPDATE – IMPACT OF THE RUSSIAN WAR AGAINST UKRAINE

Kernel Holding S.A. (the “Company”) reports that its vegetable oil terminal in the Odesa region was damaged as a result of another Russian drone attack during the morning of 14 July 2026.
The attack caused a fire and severely damaged most of the terminal’s sunflower oil storage capacity and transshipment infrastructure. A significant volume of sunflower oil stored at the terminal, including sunflower oil owned by third parties, was lost as a result of the attack; however, due to the extended duration of the fire and prolonged firefighting efforts, the precise volume of such losses cannot be determined at this stage. As a result of the Company’s safety measures and emergency response procedures, no casualties were reported among the Company’s employees. The Company is conducting cleanup works and assessing the extent of the damage and related losses. The full operational and financial impact of the attack remains under assessment.