KERNEL HOLDING S.A.: UPDATE ON THE MANDATORY SELL-OUT PROCEEDING

POLISH FINANCIAL SUPERVISION AUTHORITY

UNI - EN REPORT No

/

2025

Date of issue:

2025-10-28

Short name of the issuer

KERNEL HOLDING S.A.

Subject

UPDATE ON THE MANDATORY SELL-OUT PROCEEDING

Official market - legal basis

art. 17. 1 MAR.

Unofficial market - legal basis

Contents of the report:

Kernel Holding S.A., a Luxembourg-registered company (the "Company"), hereby informs that, in the context of the mandatory sell-out proceeding (disclosed in current report no. 12/2025 dated 29 July 2025), the Company has received a letter from the Commission de Surveillance du Secteur Financier (the "CSSF").

The CSSF's letter follows oppositions lodged by shareholders against the proposed sell-out price.

In its communication, the CSSF has requested the Company to propose five independent experts who fulfill the conditions set forth in Article 5, paragraph 4, sub-paragraph 2 of the Luxembourg Law of 21 July 2012. This request is for the purpose of the CSSF appointing an expert to submit a valuation report on the Company’s shares.

The Company is taking the necessary steps to comply with the CSSF's request.

Annexes

File

Description

Current-report-18-2025 eng.pdf

KERNEL HOLDING S.A.

(fullname of the issuer)

KERNEL HOLDING S.A.

Spożywczy (spo)

(short name of the issuer)

(sector according to clasification

of the WSE in Warsow)

L-1840

Luxembourg

(post code)

(city)

BOULEVARD JOSEPH II

8A

(street)

(number)

(phone number)

(fax)

ir@kernel.lu

www.kernel.ua

(e-mail)

(web site)

(NIP)

(REGON)

SIGNATURE OF PERSONS REPRESENTING THE COMPANY