Esa Mäki, CEO: "The operating result for the first half of the year was better than that of the comparison period. Both businesses have improved their operating result. We continue to maintain our profit guidance, according to which the Group’s operating profit is estimated to be at the same level as in the comparison period. The outlook for the harvest season is currently fairly good, but the possible realisation of risks related to harvesting will only be seen during the autumn. Net sales in the first half of the year declined, mainly due to lower market prices for oilseed products than in the comparison period. Apetit’s operating result for the second quarter of the year declined from the comparison period. In Oilseed Products, operating result clearly decreased in the second quarter of the year from the strong profits in the comparison period. The result was weakened by the fluctuation in sales volumes between comparison periods. In Food Solutions, operating result was at the same level as last year. The Group’s net sales decreased from the comparison period in the second quarter. The decrease was mainly due to the fall in the market prices of oilseed plants compared to the comparison period, sales volumes also decreased. There were normal fluctuations between comparison periods in the decline in the sales volumes, and no significant change can be seen in this year's production and sales amounts. In Food Solutions, the net sales were almost on a par with the comparison period. Sales volumes decreased from the comparison period. The decline in volumes was impacted by export sales of frozen peas that occurred at different times during the comparison period. The work on the new bottling line for the Kantvik vegetable oil milling plant is progressing. The construction work related to the property is in the final phase and the installation of equipment has started. The investment of approximately EUR 4.5 million is expected to be completed according to the original schedule in the second half of the year. The harvest season of Finnish field vegetables has progressed largely as planned. The hot and dry spring posed challenges for the growth of spinach and the first-sown peas, but the harvest outlook is mostly within expectations. The harvest outlook for root vegetables is also good before the harvest season. For the current harvest season, we increased the frozen pea cultivation area to 1,800 hectares. Domestic frozen peas play a central role in our strategy. By increasing pea cultivation, we want to meet the growing demand for exports. The cultivation areas for Finnish turnip rape and rapeseed increased from last year. The beginning of the harvest season was strained by drought, which caused uneven seedling emergence and pest pressure. After Midsummer, the weather has been more favourable for oilseed plants, and we believe that the harvest outlook in Finland is average. Our goal is to further increase the use of Finnish turnip rape and rapeseed at our vegetable oil milling plant. Domestic origin is a significant differentiating factor in vegetable oils. Work on Finnish cultivation development has continued at both the Räpi experimental farm and the RypsiRapsi forum’s cultivation tests. The focus of the RypsiRapsi forum’s trial activities during the current harvest season is on variety tests carried out as strip and square tests. In April, a multi-year project co-funded by the European Union was launched with the aim of increasing the cultivation reliability and volume of turnip rape and rapeseed in Finland. The project is a concrete demonstration of the desire to increase the cultivation of Finnish oilseed plants. The Räpi experimental farm has focused particularly on further research into pea varieties. The aim of the experiments is to find varieties that can withstand Finland’s changing cultivation conditions. In recent years, we have seen even greater variations in conditions, from heavy rain to heat and drought. Increasing pressures from diseases and pests are also taken into account in the variety tests. At Räpi, variety tests are carried out on carrots and swedes, for example, with the aim of finding new varieties for use by contract growers. We will continue to work on the focus areas in line with the strategy. For the BlackGrain rapeseed powder, the work has focused on developing the production process on a commercial scale. The pea protein project has continued small-scale testing to produce pea protein from Finnish raw ingredients. With both projects, we are increasing the opportunities for raising the added value of Finnish raw ingredients. The important ERP project has progressed according to schedule. The first phase of production implementation is scheduled to take place in the second half of the year. Some of Apetit’s operations have already implemented the new ERP system at the end of last year. Food inflation has slowed and turned negative in June. There are still major differences between product categories, and no significant change in consumer behaviour has been observed. Affordability is still an important criterion in purchase decisions. Apetit’s product range is well suited to the current situation. In the summer, we brought new vegetable oils to the shops. The Salad Oil and Pizza and Pasta Oil from Apetit’s Neito product family are high-quality new products that are suitable for a wide range of cooking and seasoning. The launches of new products will continue this year."

Esa Mäki, CEO: “Apetit’s operating profit improved clearly from the comparison period, especially in Oilseed Products. In Food Solutions, operating profit also grew year-on-year. In Oilseed Products, international crush margins have remained at a good level. In Food Solutions, operational efficiency has had a positive impact on profit performance. As expected, the Group’s net sales decreased from the comparison period. The decline in net sales was due to the clearly lower market prices of oilseed products. In Food Solutions, net sales grew slightly from the comparison period and sales volumes were almost at the level of comparison year. In addition to high-quality daily operations that reflect on our profit development, we are making progress in our strategic focus areas. We are promoting the commercialisation of the BlackGrain rapeseed powder and continuing the project to produce Finnish pea protein. The pea protein project has started small-scale testing using Finnish peas as the raw material. Common factors in these projects are Apetit’s strong commitment to Finnish primary production and raw materials as well as the goal of increasing the degree of processing and developing added-value products. In the coming harvest season, we will significantly increase the area used for contract farming of field vegetables. Especially pea, potato and carrot cultivation areas will be increased. Our aim for the harvest season is to get more than 35 million kilos of Finnish vegetables from our contract growers’ fields. In recent years, we have invested in improving harvest-time production efficiency at the Säkylä frozen foods plant, for instance by modernising the frozen pea intake end. In the coming harvest season, we will also start using a new pea harvester. Experimentation at the Räpi farm will continue, with a particular focus on further research into pea varieties. Räpi will carry out variety tests with carrots, swedes and spring rapeseed in the coming harvest season. Domestic rapeseed cultivation area is expected to increase in the Finnish Cereal Committee VYR’s* 2024 cultivation area survey. According to the survey, the cultivation area of spring turnip rape is expected to grow by 38 per cent and that of spring rapeseed by 16 per cent. Growing the cultivation area and harvest levels of domestic oilseed plants is important to Apetit. We want to secure the supply of domestic raw materials and use as much domestic rapeseed as possible. We are therefore cooperating with the domestic oilseed plant sector to develop the industry through the RypsiRapsi-foorumi development group, established in 2023. The work on the new bottling line for the Kantvik vegetable oil milling plant has proceeded on schedule. According to the estimate, the new line is expected to be operational in the second half of 2024. With this approximately EUR 4.5 million investment, we take the supply chain into our own hands. For instance, the need for logistics will be significantly reduced with the new bottling line. The strategically important ERP project has progressed according to schedule. The first deployment phase at the end of last year was very successful. We are currently preparing production deployment. We have started a survey to set climate emission reduction targets for the entire Apetit value chain. In Apetit’s value chain, the main sources of emissions are primary production, packaging and logistics. As part of Apetit’s preparations for the requirements of the Corporate Sustainability Reporting Directive (CSRD), we have conducted a double materiality analysis. Based on the results, we will improve management and reporting of our sustainability data. During the spring we launched new products in several different product groups. The new product launches included new Superior frozen pizza varieties, new cauliflower wings flavours as well as affordably priced salmon balls and a versatile tomato-based frozen vegetable mix, ideal for the current consumption circumstances. In the spring we will also launch new flavoured vegetable oils. Investments in product development and new product launches play an important role in strengthening Apetit’s market position even further.”   *The Finnish Cereal Committee (VYR), Kylvöalakysely 2/2024

Esa Mäki, CEO: “Operating profit from Apetit’s continuing operations clearly improved year-on-year. In Oilseed Products, profit improvement was significant and raw material sourcing was successful throughout the year. International crush margins were at an exceptionally elevated level during the entire calendar year. In Food Solutions, the sales developed favourably. The impact of inflation, which has weakened profit development, was successfully moderated. Throughout the year, price increases were made in Food Solutions. Long-term work in product development and product portfolio management had positive impacts on Apetit’s result. The Group’s full-year net sales decreased from the comparison year due to the fact that market prices decreased in oilseed products. In Food Solutions, net sales increased year-on-year in all sales channels. Sales volumes grew in the Food service sector and exports and remained at the comparison year’s level in retail trade and industrial sales. We took significant strategic steps in 2023. In October, we announced an approximately EUR 4.5 million investment in a new bottling line to be built at the Kantvik vegetable oil milling plant. It is our goal, that the new line will become operational during the second half of 2024. The investment follows Apetit’s strategy of speeding up growth. It enables us to take the vegetable oil supply chain more firmly into our own hands and develop products with a higher degree of processing. The ongoing ERP project has progressed according to the planned schedule. The first implementation phase of the project between November and December was successful. A large and important project demands a lot from the personnel. Strategically significant ERP system is carried out in project groups that cross the group's organizational boundaries. We established sales organisation in Sweden to boost food exports. Apetit’s foothold in Sweden has strengthened as our products have expanded into new retailer groups. The share of food exports in net sales increased in 2023. Net sales from exports to Sweden increased slightly year-on-year. The commercialisation of the rapeseed protein ingredient BlackGrain progresses. In 2023, we took important steps in production process development towards starting commercial scale production. We will tell more about our long-term plans on BlackGrain in the second half of 2024. We also launched a project to produce Finnish pea protein. The pea is one of the most used plant proteins worldwide, but thus far there has been no pea protein production in Finland. Apetit’s expertise in plant-based raw materials and strong cooperation with Finnish primary production lay a solid foundation for the project. “More domestic plant proteins” is one of Apetit’s strategic focus areas. Apetit was the driving force in the establishment of the new domestic oilseed plant production development group, RypsiRapsi-foorumi. Domestic rapeseed harvest has been worryingly low in recent years. With the forum we want to produce practical information and efficient rapeseed cultivation methods. The goal is to promote the cultivation of domestic rapeseed and its profitability. We have reduced CO2 emissions caused by our use of energy by 68 per cent compared to 2019. Apetit’s production facilities have gone through a major energy transition in recent years and 74 per cent of the energy we used in 2023 was from renewable sources. The Säkylä frozen foods plant’s new energy solution that is based on heat recovery and enables the use of biogas was deployed in summer 2023. Strong cost inflation influenced the past operating year and consumer purchasing behaviour. Affordable price plays an increasingly important role in purchasing decisions. Apetit’s product range is an excellent match to consumer demand. In addition to the price, important factors influencing purchase decisions are long-term trends, such as healthiness and sustainability. In early 2023, we conducted a survey on Finnish consumers’ perceptions concerning frozen vegetables. Approximately one in three Finns say that they buy frozen vegetables almost every time they go grocery shopping and about nine out of ten consider frozen vegetables to be excellent help in making everyday life easier and increasing the use of vegetables. Approximately 85 per cent of Finns consider frozen vegetables to be a sustainable choice. Apetit focuses on domestic and plant-based raw materials as well as products that promote well-being and sustainable consumption. We continue our efforts to seek growth from diverse plant-based food solutions and added-value products. The past year indicates that Apetit is on the right track. I would like to warmly thank all Apetit employees and for their cooperation the owners, customers, contract growers and other partners for the year 2023.”