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

POLISH FINANCIAL SUPERVISION AUTHORITY

UNI - EN REPORT No

/

2026

Date of issue:

2026-06-25

Short name of the issuer

KERNEL HOLDING S.A.

Subject

UPDATE ON THE MANDATORY SELL-OUT PROCEEDING

Official market - legal basis

Art. 17 ust. 1 MAR

Unofficial market - legal basis

Contents of the report:

Kernel Holding S.A., a Luxembourg-registered company (the “Company”), hereby informs that the second valuation report prepared in connection with the sell-out procedure in respect of the Company’s shares has been issued by Grant Thornton, acting as the independent expert appointed by the Commission de Surveillance du Secteur Financier (the “CSSF”).

The report was prepared following oppositions lodged by certain minority shareholders against the sell-out price proposed by Namsen Limited, the majority shareholder of the Company, as disclosed in Current report No. 12/2025 dated 29 July 2025.

The second valuation report is available on the Company’s website under the following link: https://www.kernel.ua/wp-content/uploads/2026/06/Second-Statutory-Valuation-Report-Kernel-Holding-S.A..pdf.

In accordance with Article 5, paragraph 6, sub-paragraph 3 of the Luxembourg Law of 21 July 2012, the CSSF shall decide on the price to be paid by the majority shareholder within three months following receipt of this second report.

Annexes

File

Description

Current-report-16-2026 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