VILMORIN PRES FINANCIERE

INFORMATIONAL MEETING

APRIL 28, 2016

AGENDA

KEY POINTS

HIGHLIGHTS AT THE END OF THE THIRD QUARTER 2015-2016 SALES AT THE END OF THE THIRD QUARTER 2015-2016 OUTLOOK FOR END OF FISCAL YEAR 2015-2016

SCHEDULE

APPENDICES

2 Informational meeting - April 28, 2016

▌Good level of sales for the 3rd quarter 2015-2016, up by 3.5%*

▌Significant growth in aggregate sales (9 months): +4%*

  • Excellent performance of the Vegetable seeds activity : +9.6%*

  • Stability of the Field seeds activity, in a market context that remains difficult: +0.1%*

▌Objectives for 2015-2016 globally maintained on a like-for-like basis, but results hit by extraordinary charges increasing the cost of procurement for field seeds

*On a like-for-like basis

3 Informational meeting - April 28, 2016

HIGHLIGHTS

AT THE END OF THE 3RD QUARTER 2015-2016

4 Informational meeting - April 28, 2016

A FUNDAMENTALLY POSITIVE SEEDS MARKET

▌Powerful growth factors

Demographic growth

Evolution of food consumption habits

Growth in the use of commercial seeds

Development of industrial applications for agricultural production

WORLD MARKET

FOR COMMERCIAL SEEDS (2015)

Vegetable seeds (conventional) 14%

Recurring progression in the use of genetically modified seeds, despite a slowdown in 2015

  • In acreage: 179.7 million hectares in 2015 (- 1% / 2014), cultivated by 18 million farmers in 28 countries

Field seeds (conventional) 33%

Field seeds (GMO) 53%

• In value: $20 Bn in 2015 (- 6 % / 2014)

  1. Informational meeting - April 28, 2016

    MARKET VALUE 2015: $37.2 Bn

    Sources: Phillips McDougall. 2016 / ISAAA 2016

    MARKET TRENDS. VEGETABLE SEEDS

    ▌Vegetable seeds markets expanding continually for several years: around +5 % in value

    Growth in Vegetable seeds for Vilmorin & Cie: 7.5% (CAGR 2009-2014)

    ▌Particularly positive impetus on the American markets (North America and part of South America)

    ▌High impact of variations in the dollar on market values

    Positive impact on business in North America and partly in the Middle East

    ▌Extreme diversity of crops and markets preserving the global market value

    Vegetable seeds markets well-positioned and promising
  2. Informational meeting - April 28, 2016

    MARKET TRENDS. FIELD SEEDS

    ▌Low level of prices for agricultural production

    ▌Contrasting evolutions in cultivated acreage

    • Market trends for corn

      United States

      ↗ Acreage

      Europe 28

      ↘ Acreage

      Wide Europe

      ↘ Acreage

      Brazil

      ↘ Acreage for Safra

      ↗ Acreage for Safrinha

    • Market trends for sunflower • Market trends for wheat

      Europe 28

      = Acreage

      Wide Europe

      ↗ Acreage

      Europe 28

      ↗ Acreage

      Wide Europe

      ↘ Acreage

      Field seeds markets that remain tense An industry in the process of reorganization
  3. Informational meeting - April 28, 2016

    A COMPETITIVE ENVIRONMENT STILL UNDER PRESSURE

    ▌Latest news of the main competitors

    Monsanto

    January 2016: Disclosure of marked drop for Q1 and the loss of 1,000 extra jobs (making a total of 3,600 jobs / 16% of workforce)

    March 2016: Lowering of guidance for 2016 / Rumors of a possible interest in the purchase of Bayer Crop Science businesses and/or joining forces with BASF

    April 2016: Disclosure of a significant decrease for Q2. Change in approach in terms of M&A (bigger deals no longer considered as the most likely option)

    Dupont Pioneer / Dow

    December 2015: Dupont Pioneer announced downsizing of 10% of its workforce December 2015: Disclosure of the merger between Dupont Pioneer and Dow

    Syngenta

    February 2016: Disclosure of an acquisition project by Chemchina for $43 Bn (after a first rejection by Syngenta, in November 2015, of an initial offer of $42 Bn)

    March 2016: Publication of the prospectus devoted to the project

    April 2016: Disclosure of a decrease in sales for Q1 (stable with constant currency)

    BASF

    February 2016: Loss of half the R&D biotechnology jobs announced

    March 2016: Rumors on possible counter-offer to acquire Dupont (source: Bloomberg)

  4. Informational meeting - April 28, 2016

Vilmorin & Cie SA issued this content on 28 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 28 April 2016 06:54:33 UTC

Original Document: http://www.vilmorin.info/vilmorin/CMS/Files/ENGLISH/Presentation/2016/Presentation_CA_T3_28_04_2016_fr_V03_ang_r.pdf