Valinor Public Limited - Dom Maklerski BZ WBK SA

Maintain focus on crop production: Maintaining a focus on the production of cereals andoilseeds for which there is high demand on both the local and international commoditymarkets. In addition, the Group intends to reconstruct and improve existing but nonoperationalirrigation systems to enable the production of water intensive crops, such aspotatoes, and to expand its production of soya bean or other water intensive vegetables.Improve efficiency of operations: Ensuring that all its land operates at optimal productionpotential. In addition, Valinor intends to continue to consolidate farms to concentrate itsresources and generate operating efficiencies. Furthermore, the Group intends to continue toreduce its levels of unskilled staff, staff costs and increase employee productivity.Planned expansion of the Group’s land under control: Investing in the acquisition of highlyfertile agricultural land located in close proximity to its existing land in order to achieveoptimal levels of production. In 2011, Management expects that up to an additionalapproximately 70,000 hectares, comprising up to 40,000 hectares in Russia and up to 30,000hectares in Ukraine, will be acquired. In the period from 2012 to 2014, depending upon theprice and availability of suitable land and prevailing market conditions, Management expectsto be able to acquire and integrate at least 70,000 hectares of new land per annum.Board of DirectorsThe following table sets out the current Directors of the Company:NameKirill PodolskiyEdward KurochkinAlexandr LavrinenkoMarina BarbarashMikhail CherkasovGalina IgnatovaAndriy VolkovAndrey SizovElena CleridesAlexey PonomarenkoPosition/FunctionChairman of the Board of Directors, chief executive officerDirector and chief operating officer and general manager forRussiaDirector and general manager for UkraineDirector and chief financial officerDirector and chief executive officer for investor relationsDirector and deputy chief executive officer for legal andpropertyNon-executive independent DirectorNon-executive independent DirectorNon-executive DirectorNon-executive DirectorOther Members of ManagementThe Board of Directors is supported by the following key members of Management:NameSergey SemenchkoNatalya ChernetskayaNickolay SharganovGennady DoroshenkoAnatoliy KosovanPosition/FunctionFinancial director, RussiaFinancial director, UkraineChief operating officer, RussiaHead of legal department, RussiaHead of legal department, Ukraine- 4 -