EXEL Industries // 2020 Universal registration document

Presentation of the Group 2

Business overview of the EXEL Industries group

Business overview of the EXEL Industries group

2.3

The Group has four businesses:

2.3.1 Group businesses and products

protection products (plant health products) or fertilizers they need. The optimized use of the products applied, including herbicides (to fi ght against weeds), insecticides (to protect against attack by insects), fungicides (to protect against fungal and mildew attack), liquid fertilizers, and other products requires ever more accurate and e ffi cient application so that only the plant is protected and any dispersion of sprayed products is prevented. The EXEL Industries group’s agricultural sprayers are used by farmers working in the market gardening, mixed farming, large-scale crops, industrial crops, arboriculture and viticulture segments. Spraying equipment may be motorized (self-propelled), carried or trailed by a tractor. It costs between €2,000 and €400,000 depending on the size, performance and degree of sophistication. The diversity of our customers’ operating pro fi les requires a verywide range of products (spray boomwidth, working height, tank size, etc.), as well as numerous options using the most advanced technologies (GPS guidance, regulation of spraying according to speed, electronic control of the opening of the nozzles, cameras, ground monitoring, etc.). There are different techniques for spraying fertilizers and plant protection products. For example:  air blast sprayer : droplets are created by pressurization of the liquid (2 to 5 bars);  aero-convection or carried jets : the droplets generated by the pressure of the liquid are transported by a stream of air created by a ventilator. It is often used in arboriculture to ensure the droplets reach deep into the foliage;  pneumatic : this form of spraying is produced by the high air speed (several hundred km per hour) generated by a centrifugal ventilator which also sprays the liquid arriving at the center of the air jet. This technique is used in vineyards or crops needing a strong penetration at a highly localized position;  centrifugal : the liquid is directed without pressure to the center of a disc carried at high speed by an electric motor and is sprayed on its periphery. The size of the drops is directly related to the speed of the disc which provides a highly homogeneous spectrum of droplets. This technique is used to applymuch more concentrated products (with ten times less water transported), for example to treat cotton in Africa by using wind drift. A wide range of sprayers is o ff ered by each of the Group’s major brands, AGRIFAC, APACHE, BERTHOUD, EVRARD, HARDI, MATROT, NICOLAS and TECNOMA, to cover all market requirements.

Group pro fi le EXEL Industries designs, manufactures and sells agricultural and industrial sprayers. Efficient spraying consists of protecting and improving performance and optimizing the products being sprayed. The Group also competes in the gardenwatering products and sugar beet harvester markets. In 2020, the Group had sales of €754.4 million and devoted almost 4% of its sales to Research and Development. EXEL Industries employs 3,392 permanent employees spread over 27 countries and 20 production sites. Group strategy EXEL Industries, created in 1946 by Vincent BALLU, is a family group listed on Euronext Paris and diversi fi ed into three business sectors. Bringing together several highly autonomous SMEs, the holding company is a governance body that provides them with the means to fi nance their development, allowing them to rely on a portfolio of brands and patents, and a common set of values. Its B2B activities aim to help its customers achieve their economic and environmental performance targets. Its B2C activity provides consumerswith gardening products that allow them to be in harmony with nature. As a Group with a human focus, EXEL provides its employees with the means to express their talents, with a short and agile decision- making circuit, close to customers and products. With a geographic and sector growth strategy based on great capacity for innovation, recognized expertise and an ability to integrate its acquisitions, EXEL has always created value for its shareholders and fi nancial partners.

2.3.1.1 Agricultural spraying Sales: €332.1 million, or 44.0% of total Group sales Number of employees: 1,665 (permanent contracts) Production sites: 11

Description Agricultural Spraying involves protecting and enabling crop yields to be improved by accurately delivering the right amount of plant

10 EXEL Industries group I 2020 Universal Registration Document