This trading update provides provisional basic information on the economic environment as well as Nitrogénművek’s key performance indicators for the quarter ended March 31, 2022. The information contained in this trading update may be subject to change and may differ from the final numbers of the quarterly report.

Key performance indicators

Pétfürdő, 9 March 2022 - The war in Ukraine created an extraordinary situation in the European and Hungarian economies. Natural gas prices have more than doubled and the risk of energy supply security has also increased. Government decisions that unpredictably affect market fundamentals of agriculture (eg. grain export restrictions) further increase our market risks, what forced us to halt temporary our ammonia production.

This trading update provides provisional basic information on the economic environment as well as Nitrogénművek’s key performance indicators for the quarter ended December 31, 2021. The information contained in this trading update may be subject to change and may differ from the final numbers of the quarterly report.

Key performance indicators

The Hungarian Ministry of Agriculture was consulting last Friday, Nov 19, with wholesalers and retailers in the Hungarian fertilizer market, “how to keep Hungarian fertilizers at home”. “All possible means must be used to secure the supply of Hungarian farmers with fertilizers” was stated on the portal of Agrokep.hu

Pétfürdő, Friday, 22 October 2021 (OTS) - Nitrogénművek Zrt./Bige Group was informed of the decision of the Hungarian Competition Authority (GVH) on 22 October 2021. The decision is 250 pages long and is still under evaluation. However, it is safe to say that we do not agree with the fundamentals of the decision.