SUSTAINABILITY 
REPORT 
2022

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SUSTAINABILITY REPORT 2022 
 
C o n t e n t s  
Chairman’s Statement ....................................................................................................................... 3 
Astarta’s History ................................................................................................................................. 5 
Company’s Mission ............................................................................................................................ 6 
Business Model .................................................................................................................................. 8 
Value Creation .................................................................................................................................... 9 
Innovation and R&D ......................................................................................................................... 10 
Key Developments ........................................................................................................................... 11 
Engagement with Stakeholders ...................................................................................................... 13 
Identifying and Selecting Stakeholders .......................................................................................... 14 
Approach to Stakeholder Engagement ........................................................................................... 15 
Organisational and Content Related Reporting Boundaries ......................................................... 16 
Key Topics and Concerns Raised .................................................................................................... 17 
Matrix of Material Topics of the Company ...................................................................................... 17 
Task Force on Climate-related Financial Disclosures .................................................................... 18 
EU Taxonomy Disclosure .................................................................................................................. 39 
russian Invasion Impact ................................................................................................................... 40 
ENVIROMENTAL ................................................................................................................................ 43 
Energy ............................................................................................................................................ 43 
Water and Effluents ...................................................................................................................... 44 
Land Use and Biodiversity ............................................................................................................ 45 
Emissions and Responding to Climate Change .......................................................................... 47 
Waste ............................................................................................................................................. 53 
Animal Welfare .............................................................................................................................. 54 
Sustainable Procurement ............................................................................................................ 55 
SOCIAL ............................................................................................................................................... 57 
Human Capital .............................................................................................................................. 57 
Minimum Notice Periods Regarding Operational Changes ....................................................... 60 
Occupational Health and Safety .................................................................................................. 60 
Training .......................................................................................................................................... 62 
Diversity and Equal Opportunities ............................................................................................... 65 
Freedom of Association and Collective Bargaining .................................................................... 67 
Human Rights ............................................................................................................................... 67 
Certification and Sustainable Products and Services ................................................................ 68 
Local Communities ....................................................................................................................... 71 
GOVERNANCE ................................................................................................................................... 74 
Board Management Structure ..................................................................................................... 74 
Business Ethics ............................................................................................................................. 78 
Anti-corruption............................................................................................................................... 79 
Shareholders and Share Price Performance .............................................................................. 80 
GRI content index ............................................................................................................................. 82

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SUSTAINABILITY REPORT 2022 
 
CHAIRMAN’S STATEMENT 
identified the key elements which contribute to soil health such as diversified crop rotation, 
reduced tillage, organic fertilisers and precision farming. 
Precision agriculture is closely related to continued development of the Company’s proprietary 
digital framework Agrichain. In 2022, despite the war, Agrichain launched development of two 
new modules: AgriChain Machinery - a system for management of machinery and equipment 
and AgriChain Logistics - a unified system for planning and controlling transportation of all 
types of inputs and products by all modes of transport.   
Our aim is to upscale these practices in the years to come for the benefit of local communities 
of Ukraine and international customers world-wide. 
Sustainability of Astarta’s business is underpinned by the diversification of its product range, 
markets and growing self-sufficiency in the energy use. This would allow the Company to 
strengthen own energy independence and support the Ukrainian energy system which became 
the target of brutal missile attacks by Russia. 
Another area which draws our attention from a long-term strategic perspective is climate 
change. The post-war economic recovery of Ukraine will be closely aligned with EU policies such 
as Green Deal. We see our role, as a European public company with operations in Ukraine, in 
leading the decarbonisation agenda in close co-operation with local peers in each industry 
where we are present: primary agriculture, food processing and livestock.  
Every year since our first report under GRI standards for the year 2017, we have enhanced 
disclosure of key ESG metrics, including GHG emissions covering Scope 1, 2 and 3. Separately, 
Howard Dahl 
Chairman of the Board of Directors 
Last 
year 
brought 
unprecedented 
challenges to Ukraine and its society. 
No other country managed to keep its 
economy running amid a massive military 
assault. But the Ukrainian people and its 
businesses did. Astarta was one of those 
companies which continued operations, took 
care of the safety of its employees and family 
members, and managed to supply its 
agricultural 
products 
domestically 
and 
overseas. 
At Astarta we see our task in continuing 
business 
despite 
continued 
military 
aggression, and in the way which supports 
sustainable development of the Ukrainian 
state and society while integrating the 
country into the European markets and 
contributing to the global food security and 
climate change agenda. 
Last year Astarta was encouraged by its 
international business partners to investigate 
regenerative agriculture which has become a 
key trend in global food and agriculture 
industry. As soon as spring crop planting was 
completed under new war-time conditions, 
we reviewed our agricultural practices and

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SUSTAINABILITY REPORT 2022 
 
we have contributed Astarta’s data to CDP, the global climate change platform covering 
18,500 corporations, from 2021. We have already started to disclose in accordance with TCFD 
which is becoming an international standard and plan further improvements on this. 
Last year we started cooperation with EY, a global consultancy firm, on developing a long-term 
climate corporate governance strategy based on the analysis of risks and opportunities 
presented by climate change, and the climate action plan tailored to our business model and 
technological solutions known to-date. We look forward publishing the key pillars of our climate 
change strategy for the attention of our stakeholders once the project is complete.

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SUSTAINABILITY REPORT 2022 
 
ASTARTA’S HISTORY 
GRI 102-2 
 
Astarta is one of the largest vertically integrated agro-industrial holdings in Ukraine. The 
Company’s main activities include grain and oilseeds production, sugar production from sugar 
beets and raw cane sugar processing, soybean crushing, milk production, as well as grain and 
oilseeds storage and handling services. 
For over 30 years, since 1993, the Company has proven to be a reliable and trustworthy 
partner and supplier, committed to the best international standards in terms of quality, 
innovation, and sustainability. Integrity, transparency, and strengths of its human capital has 
also been among Astarta’s key priorities. The Company maintains a nation-wide presence with 
around 6.5 thousand employees based at its production and storage facilities in seven regions. 
Their dedication and expertise determine Astarta’s success. 
The Company established stable long-term business relationships with leaders of the Ukrainian 
food processing, confectionary and retail industries. A growing part of its production has was 
exported through international agricultural traders to 41 countries during 2022.

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SUSTAINABILITY REPORT 2022 
 
COMPANY’S MISSION 
We, Astarta, are a vertically integrated agro-industrial holding in Ukraine, a public European 
company, running a socially responsible business and producing food commodities with a 
focus on global markets. 
We are building a high-tech innovative company in Ukraine with a globally identifiable brand 
and impeccable reputation, attractive for shareholders and partners, creating products of the 
highest quality for the most demanding consumers, and providing an opportunity for 
development for each of the Company’s employees.  
Our mission is to build strong Ukraine and strengthen its credibility in the world, unlocking and 
multiplying the potential of the Ukrainian land and its people and inspiring the society with 
exemplary business conduct, based on the principles of fair partnership, ethics, and 
development.  
While undertaking our mission, we rely on the following strengths:  
• Stellar reputation of a responsible and reliable partner,  
• Consistent quality of products made,  
• Significant diversification and vertical integration of the business, 
• Strong employer brand.  
While strengthening approach to doing business with a focus on global markets, 
we: 
• Build marketing relations with the end users,  
• Cultivate mutually beneficial partnerships with our stakeholders and customers,  
• Create fruitful relationships with global peers, 
• Develop business partnerships in Ukraine to promote national interests and improve the 
country’s competitiveness in global markets,  
• Develop the business towards more value-added products,  
• Continue expanding organic production, and  
• Build up commodity trading business.  
Taking into consideration rapid development of innovative technologies in the 
industry, we  
• Are fully engaged in building infrastructure and developing agriculture start-ups,  
• Promptly adopt advanced industry solutions to the Company's business processes, and  
• Evolve R&D and business capabilities.  
By developing the Company's staff and shaping the business culture and principles 
of respect for dignity and professionalism, we 
• Upgrade personnel training and development systems,  
• Apply a more efficient approach to recruitment and engagement of employees, working 
continuously to raise their loyalty and create decent living and working conditions in the 
regions, and

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SUSTAINABILITY REPORT 2022 
 
• Develop external and internal talent pools.  
To enhance efficiency, we embrace culture of lean manufacturing and energy-efficiency.  
While being proactive in shaping our business environment and the society we 
• Subscribe to the principles of sustainable development,  
• Build the public-private partnership,  
• Participate in industry and professional associations, trade unions and local 
government authorities,  
• Promote vocational education and applied research in the country. 
We carry out our Mission with full commitment to the values of impeccable business 
reputation, social responsibility, respect for human dignity, and results-oriented partnerships.  
We get away from conformism and fear of change, wasteful attitude to the resources of the 
Company and the prevalence of individual interests over the team’s ones.  
We nurture values of entrepreneurship, personal efficiency and the pursuit of the impossible to 
achieve the maximum.

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SUSTAINABILITY REPORT 2022 
 
BUSINESS MODEL 
 
 
Agriculture 
Sugar Production 
Soybean 
Processing 
Cattle Farming 
c. 220kha under 
management. 
Key 
crops: corn, wheat, 
sunseeds, 
sugar 
beets, 
soybeans, 
rapeseeds. 
In-house storage & 
handling 
facilities 
with 
capacity 
of 
562kt. 
Modern agriculture 
machinery fleet. 
A 
proprietary 
integrated 
multi-
module IT solution 
for 
agribusiness 
management. 
Certified 
producer 
of high-quality sugar  
Five operating sugar 
production plants. 
One of the biggest 
sugar producers in 
Ukraine with 21% 
market share. 
Self-sufficient in raw 
materials with more 
than 80% of sugar 
beets 
grown 
in-
house. 
Partnerships 
with 
local 
farmers 
to 
secure sugar beets 
supply. 
One of the biggest 
soybean processors 
in Ukraine. 
41% of supply from 
in-house high quality 
soybeans. 
Partnerships 
with 
local 
farmers 
to 
secure 
soybeans 
supply. 
Biggest 
industrial 
dairy 
farmer 
supplying 
premium 
quality 
milk 
in 
Ukraine. 
23k heads of cattle. 
102kt 
of 
milk 
produced. 
Own feed centre and 
inputs.

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SUSTAINABILITY REPORT 2022 
 
VALUE CREATION 
 
For people 
People are the most 
vulnerable 
and 
valuable capital of the 
business. 
The 
Company pays a lot of 
attention 
to 
the 
development 
of 
its 
employees, works hard 
towards retention of 
talent and adheres to a 
collaborative approach 
in relations with the 
workforce. 
In 
2022 
Astarta 
employed 
6,591 people 93% of whom were 
employed 
in 
the 
rural 
area. 
Total 
contribution by the Company in the form of 
salary, wages and additional financial 
incentives was EUR57m in 2022. 
For shareholders and creditors 
Astarta proved to be a reliable and trusted 
partner for top local and international 
financial institutions enjoying stable access 
to financing sources. In 2022 Astarta paid 
EUR7m in loan interest. 
For local communities  
As a land operator, Astarta actively interacts 
with local communities which, among 
others, include landowners who lease out 
land to the Company. Astarta operates c. 
220k ha of land leased from almost 57k 
individual landowners. Payments under 
land lease liabilities totalled EUR27m in 
2022. 
Support of communities is a key focus for 
the Company which became of vital 
importance since the start of the russian 
aggression in Ukraine. In 2022 Astarta co-
founded a large-scale humanitarian project 
Common Help UA to help those who 
suffered 
from 
military 
hostilities. As of the end 
of 
2022, 
estimated 
monetary 
value 
of 
donations 
and 
humanitarian 
supplies 
under Common Help UA 
project 
reached 
USD18m. 
For 
suppliers 
and 
clients 
The 
Company 
makes 
best efforts to improve 
its assets and produce 
high quality products to 
meet the highest requirements of clients. In 
2022 Astarta sold 226k t of sugar, 664k t 
of grains and oilseeds, 190k t of soybean 
products and 98k t of milk bringing 
EUR510m of total revenues. 
The Company deals with significant number 
of suppliers. In 2022 it procured from 17k 
suppliers with the total spend of EUR297m. 
For farmers 
Astarta 
closely 
cooperates 
with 
local 
farmers on supply of sugar beets to its 
sugar plants as well as to procuring grains 
and oilseeds for trading. In 2022 Astarta 
procured over 350kt of sugar beet and 
210kt of grains and oilseeds through the 
Partnership Centre. 
For the economy 
One of the key direct contributions to the 
Ukrainian economy is taxes paid by the 
Company. In 2022 Astarta paid UAH1.6bn 
(EUR48m) in taxes and duties in Ukraine 
including UAH629m (EUR19m) into the 
State budget of Ukraine and UAH972m 
(EUR31m) into the local budgets of the 
regions of Astarta’s presence.

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SUSTAINABILITY REPORT 2022 
 
INNOVATION AND R&D 
Today, innovation is the key tool for success 
and especially important under war conditions. 
The Ukrainian military is fighting with computer 
tablets 
in 
their 
hands, 
using 
modern 
technologies of warfare: troop management, 
logistics, communications, and specific military 
operations. This saves hundreds of thousands 
of lives - military and civilians. 
Similarly, the development of the agro-
industrial sector is impossible without modern 
IT technologies, which radically change how 
the business is done. Innovations are an 
important element of Astarta’s business model to ensure better operational results and 
enhance the sustainability aspect of its activities. The Company has a proprietary integrated 
multi-module IT software, called AgriChain, for agribusiness management. 
In 2022, despite the war, Agrichain continued upgrading existing modules and developing new 
ones, streamlining the complexity of agribusiness management practices. 
Among the new modules that the Agrichain started to develop are AgriChain Machinery 
(machinery and equipment management) and AgriChain Logistics (logistics, inventory and 
product management). 
 
AgriChainMachinery - is a system for 
management of machinery and equipment 
which stores and accumulates telemetry 
data, integrates it with third-party systems, 
calculates the cultivated area and vehicle 
mileage 
 
AgriChain Logistics - is an integral system for 
planning and controlling transportation of all 
types of inputs and products by all modes of 
transport. The purpose of the module is to 
introduce 
a 
single 
automated 
system 
covering the entire "field-to-customer" route 
and raise efficiency through optimization, 
automation 
and 
regulation 
of 
logistics 
processes. 
 
 
 
The Company also worked on setting up an internal system based on artificial intelligence 
studying the data that had been accumulated for 30 years of business. The data is analysed 
using algorithms, and the results are used to guide management decisions in logistics.

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SUSTAINABILITY REPORT 2022 
 
A new feature aimed at automated soil sampling for further analysis in the laboratory was 
added to AgriChain Scout module. The soil sampling crew drives to a selected field under the 
app guidance to take samples from specific segments. 
AgriChain also started cooperation with the US “Planet Labs”, specialising in Earth observation 
from space. The application was integrated into AgriChain Scout to record condition of crops 
such as stage of vegetation and the quality of seedling with the help of satellites with a high-
resolution telescope. 
AgriChain also completed testing of the electronic management of transport consignment 
notes. The development of the system was led by the Ministry of Infrastructure of Ukraine to 
simplify and speed up logistics by replacing the paper transport consignment notes with 
electronic ones for transparency in freight transportation. 
KEY DEVELOPMENTS 
After the full scale russian aggression started in February 2022 the Company’s attention 
turned to the social aspect of sustainability.  Help to temporally displaced people who suffered 
from military hostilities became one of the top priorities in 2022.  
At the start of the war, Astarta co-founded a large-scale humanitarian project Common Help UA. 
The project grew through other businesses, international organizations, local communities and 
temporarily displaced civilians joining in to help those in need, nurture local entrepreneurship, 
create jobs for displaced people, support domestic 
producers and the economy as a whole. By the end of the 
2022, estimated monetary value of donations and 
humanitarian supplies to Common Help UA project reached 
USD18m. The project was involved in delivering 28kt of 
humanitarian supplies to circa 716k displaced civilians.  
Astarta continues to put every effort to maintain its development in key areas of the 
sustainability during war time.    
In 2022 Astarta continued development of the Climate Action Plan in partnership with the 
European Bank for Reconstruction and Development and, at the beginning of 2023, finalised 
the analysis of climate change risks and opportunities, mitigation actions and relevant 
improvement in corporate governance practices. As a result, enhanced disclosure of GHG 
emissions and climate governance under TCFD recommendations was included in this report. 
Astarta also joined the project with Agreena - a soil carbon platform for farmers aimed at 
scaling regenerative agriculture practices through finance and technology. Agreena’s platform 
will be used to conduct assessment, monitoring and verification of greenhouse gas emission 
reductions resulting from change in farming practices on the assigned land area.  
The Company’s crop growing subsidiary called List-Ruchki had its status of an organic producer 
reconfirmed and successfully passed the certification by the Organic Standard and Bio Suisse. 
It also passed the inspection for the European/Danube soy certification. 
During the UN Global Compact Leaders’ Summit in New York Mr. Viktor Ivanchyk, Astarta’s 
CEO, representing Ukraine, was named a 2022 SDG Pioneer for Sustainable Business Strategy 
for achievements in promoting the Sustainable Development Goals.

12 
SUSTAINABILITY REPORT 2022 
 
In 2022 Forbes Ukraine ranked Astarta among 15 the most resilient Ukrainian companies. The 
ranking was prepared based on assessment of resilience of Ukrainian businesses under the 
war-time conditions. 
Astarta won the All-Ukrainian HR-Brand 
Award 2022 in the Partners’ Choice 
nomination 
with 
HR 
strategy 
case 
“Towards a global agricultural ecosystem: 
people 
are 
at 
the 
centre 
of 
transformation”. The key topics of this 
year’s competition were human-centricity 
in talent management, transformation of 
the HR function in the new reality, 
supporting the resilience and productivity 
of teams, transformation of corporate 
culture and how the company’s cultural 
code helps to survive in war; the use of 
digital technologies and automation of HR 
processes, new approach to online training 
and employee development, and attracting 
talented youth. 
 
Financial and operational performance 
Key Financial Highlights 
Key Operation Highlights 
• Revenue – EUR510m (up by 4% y-o-y)  
• EBITDA – EUR155m (down by 23% y-o-y) 
• EBITDA margin - 30% (down 11pp y-o-y) 
• Net Profit – EUR65m (down by 47% y-o-y),  
• Market Capitalisation – EUR109m (down 
by 53% y-o-y) 
• EV – EUR261m (down by 32% y-o-y) 
• Grains and oilseeds – 839kt (down by 14% 
y-o-y) 
• Sugar produced– 282kt (down by 17% y-o-y) 
• Soybean meal – 138kt (up by 23% y-o-y) 
• Soybean oil – 40kt (up by 24% y-o-y) 
• Milk – 102kt (up by 6% y-o-y) 
Astarta’s social and environmental Impact  
Social impact 
Environmental impact 
• 6,591 people employed 
• Gender structure: male – 68%, female – 
32% 
• 101% female to male remuneration ratio 
• LTIFR* – 0.9 
• Large scale humanitarian project with 
estimated monetary value of charitable 
contributions and humanitarian aid at 
USD18m 
• Four separate social projects in rural area 
• Energy consumption – 3,352kGJ (down by 
9% y-o-y) 
• Energy 
consumption 
from 
renewable 
sources – 346kGJ (2.5x y-o-y increase) 
• Total emissions – 1,079kt of CO2eq (up by 
4% y-o-y) 
• Share of biogenic emissions in total 
emissions – 29% or 311kt of CO2eq  
* Lost Time Injury Frequency Rate

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SUSTAINABILITY REPORT 2022 
 
ENGAGEMENT WITH STAKEHOLDERS 
The information in this report is presented under the GRI Standards: Core Option. Commitment 
to transparency and accountability remain the key basic principles for the preparation of the 
report. For better understanding of Astarta’s overall performance it is recommended to read it 
in conjunction with the Annual report 2022 published on the website of the Company 
(www.astartaholding.com). 
The Company is engaging with stakeholders on a regular basis according to Stakeholder 
Engagement Plan (the “SEP”). The document specifies stakeholder’s engagement depending 
on the operational profile of a unit. 
The purpose of Astarta’s SEP is to provide a framework for consultation and participation 
strategy which: 
• Defines the applicable legal requirements concerning disclosure and consultation. 
• Identifies stakeholder groups that could be affected or may have an interest in the 
Company’s services. 
• Ensures that such stakeholders are appropriately engaged through a process of 
information disclosure and meaningful consultation on issues that could potentially 
affect them. 
• Maintains a constructive relationship with stakeholders on an ongoing basis through 
meaningful engagement. 
• Provides a grievance mechanism to allow users and other stakeholders to register 
complaints, queries or comments that are addressed in a timely manner by the 
Company. 
• Plans for stakeholder engagement which is free of manipulation, interference, coercion 
or intimidation and is conducted based on timely, relevant, understandable, and 
accessible information in a culturally appropriate format. 
The Company keeps track of stakeholders’ attitudes and expectations and continuously 
improves communication with them. All stakeholders are eligible to register suggestions and 
complaints addressed to Astarta via a special form defined in the SEP.

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SUSTAINABILITY REPORT 2022 
 
IDENTIFYING AND SELECTING STAKEHOLDERS 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Astarta’s management team evaluated the importance and applicability of key sustainability 
issues for its business and focused on those aspects that are material to the organisation and 
its key stakeholders, namely, issues that could result in a significant economic, social or 
environmental impact, or those that significantly concern stakeholders’ perceptions and 
decisions. Lower priority issues are subject to monitoring and review. 
The Company defines the following group of stakeholders based on the business model of 
Astarta: shareholders and investors, employees, creditors, consumers, local communities, 
suppliers, media, local farmers, authorities, landowners and clients. The Company engages 
with all of stakeholders and considers all of them to be essential for its business.

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SUSTAINABILITY REPORT 2022 
 
APPROACH TO STAKEHOLDER ENGAGEMENT 
Stakeholder 
group 
Engagement 
Shareholders/ 
Investors 
The Company is committed to maintaining an open dialogue with 
shareholders and investors and have an engagement with them 
throughout the year. Feedback from the investment community is 
reported to the Directors regularly. 
Form of engagement: annual and interim reports, press releases, 
meetings, 
presentations, 
corporate 
website, 
participation 
in 
conferences, publications in media and social networks, official 
correspondence. 
Employees 
Every employee of the Company contributes to its success. Wide 
ranging channels of internal communication are used to keep an open 
dialogue with this group of stakeholders. 
Form of engagement: meetings, thematic seminars, corporate events, 
corporate 
publications, 
questionnaires, 
collective 
agreements, 
corporate ethics code, training sessions, consultations, the Company’s 
whistleblowing line, social networks, official correspondence. The 
Company has an online information portal for all employees. Also, social 
networks and messenger channels are used to regularly inform 
employees about the Company’s events. 
Creditors 
The Company commits to transparency of its performance to secure 
stable long-term business relationships with international development 
financial institutions and local banks. 
Form of engagement: annual and interim reports, meetings, 
presentations, 
corporate 
website, 
participation 
in 
conferences, 
publications in media and social networks, official correspondence. 
Consumers/Clients 
The Company serves a wide range of customers locally and globally and 
strives to maintain stable relationships with them. 
Form of engagement: corporate website, questionnaires, presentations, 
annual and interim reports, consultations, negotiations, interviews, 
corporate website, social networks, the Company’s whistleblowing line, 
official correspondence. 
Local 
Communities/ 
Landowners 
Astarta has a remarkable history of community involvement because of 
open and transparent communication with local communities and 
landowners. It remains one of the key priorities for its business. 
Form of engagement: conferences, round tables, social and charitable 
programmes, publications in media, printed materials (posters, 
booklets), corporate website, social networks and messenger channels, 
regular meetings with local communities. 
Suppliers 
Astarta builds relationships with suppliers to better understand the 
markets where it is present. The procurement team engages with the 
suppliers on a regular basis. 
Form of engagement: corporate website, questionnaires, presentations, 
annual and periodical reports, consultations, negotiations, interviews,

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SUSTAINABILITY REPORT 2022 
 
social 
networks, 
the 
Company’s 
whistleblowing 
line, 
official 
correspondence. 
Media  
Astarta maintains a regular dialogue with media in a number of ways 
from face-to-face interactions to those via social media and is 
committed to maintain an open dialogue. 
Form of engagement: annual and periodical reports, meetings, 
presentations, 
corporate 
website, 
participation 
in 
conferences, 
publications in media and social networks, official correspondence. 
Authorities 
Astarta interacts with a wide range of authorities at national and 
regional level as they influence how the Company does business. It is 
also a member of major associations in the key markets. 
Form of engagement: consultations and meetings, seminars, official 
correspondence, joint projects on local infrastructure development, 
official correspondence. 
Local farmers 
Astarta promotes cooperation with farmers creating more value-added 
opportunities for both sides (between a farmer and a processor). The 
Company established the Centre for Partnership with independent 
farmers to offer comprehensive cooperation through a "single window" 
concept. The CFP unites all supply and procurement-related services 
and products offered to local farmers for their business needs. Astarta’s 
experience, size, scale of production and storage capabilities allow it to 
make attractive offers to business partners. 
Form of engagement: conferences, round tables, social and charitable 
programmes, publications in media, printed materials (posters, 
booklets), corporate website, regular meetings with local farmers. 
 
ORGANISATIONAL AND CONTENT RELATED REPORTING 
BOUNDARIES  
The information presented in this report includes data as of the end of fiscal year ending 31 
December 2022 in comparison with 2021 and is applied to ASTARTA HOLDING PLC with its 
subsidiaries and associates. Astarta evaluated the importance and applicability of key 
sustainability issues to its business and focused on those aspects that are material to the 
organisation and its key stakeholders, namely, issues that could result in a significant 
economic, social, or environmental impact, or those that significantly influence stakeholders’ 
perceptions and decisions. Lower priority issues are subject to monitoring and review. 
Considering increased global focus on sustainability issues the European Parliament 
recognised and formalised non-financial information disclosure by certain large companies 
through the Directive 2014/95/EU. EU Taxonomy regulation requires undertakings which is 
under obligation to publish non-financial information pursuant to Article 19a or Article 29a of 
Directive 2013/34/EU to disclose information on how and to what extent the undertaking’s 
activities are associated with economic activities that qualify as environmentally sustainable.  
Therefore, this report also contains aspects of non-financial information that are mandatory 
under required regulations and WSE ESG reporting guidance.

17 
SUSTAINABILITY REPORT 2022 
 
To enhance reporting on climate-related information such as impact of climate change on its 
business as well as related risks and opportunities the Company also disclose information 
based on the recommendations of Task Force on Climate-related Financial Disclosure (TCFD). 
KEY TOPICS AND CONCERNS RAISED 
Throughout the year interviews were conducted by key executives from each business segment 
with the respective group of stakeholders to compile a list of material topics. Management 
board anonymously conducts ranking of these topics on a scale of 1-10, where 10 was scored 
as the most important issue, and 0 — a question of minimal importance. Based on ranking, the 
materiality matrix was prepared, pointing out the aspects that Astarta and its stakeholders 
consider to be material for its business activity. 
In 2022 the Company reviewed the list of the material topics and grouped the questions under 
respective ESG topic. As a result, the following topics were evaluated for further assessment of 
their  materiality: Ecological – energy consumption, waste management, water consumption, 
certification and sustainable products, responding to climate change, emissions, animal 
welfare, land use and biodiversity, responsible procurement; Social – cooperation with local 
communities, human capital, human rights, diversity, occupational safety, russian invasion 
impact; Governance – Board management structure, business ethics. 
MATRIX OF MATERIAL TOPICS OF THE COMPANY

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SUSTAINABILITY REPORT 2022 
 
TASK FORCE ON CLIMATE-RELATED FINANCIAL DISCLOSURES 
Although TCFD recommendations remain voluntary they are recognised as a reliable guidance 
for reporting of climate-related information and are embedded into the EU legislation. 
The statements in this section, which Astarta believes are consistent with disclosure 
recommendations of TCFD, provides analysis of the risks and opportunities arising from 
climate change, their impact on the company’s business and possible actions to mitigate those 
risks. Additional information on climate-related issues including disclosure on GHG emissions 
is also disclosed with this Report.  
Governance 
The Board of Directors is responsible for overseeing the climate-related issues. With this 
purpose the Sustainability and Corporate Responsibility (SCR) Committee was established in 
2020 and consists of members of the Board. It assists the Board of Directors in fulfilling its 
responsibility for oversight of relevant sustainability and corporate social responsibility policies, 
strategy and development projects of the Company. 
There is also an Environmental Social and Governance (ESG) committee at the executive 
management level which is responsible for implementing sustainability strategy. The ESG 
committee consists of the key members of executive management including the CFO, heads of 
upstream and downstream operations and is chaired by the CEO. The committee sets and 
reviews key ESG performance indicators together with other issues including risks, strategy and 
implementation of sustainability projects by the Company. 
Sustainability issues are also considered by the Investment Committee when reviewing new 
development projects to identify potential risks, benefits and overall ESG-related impact. 
From 2021 the Director for Sustainable Business Development and Investor Relations leads 
the sustainability function on behalf of the executive management board. The scope of 
responsibilities covers sustainability strategy, monitoring of implementation of sustainable 
practices, overseeing compliance with local and international standards and requirements in 
the sphere of sustainable development, as well as reporting to stakeholders. 
The Director for Sustainable Business Development and Investor Relations prepares a 
dedicated presentation on key sustainability matters including climate-related issues for 
consideration by the ESG committee and the SCR Committee on a quarterly basis. The 
Company’s Audit Committee also reviews and discusses the Annual Report which, among other 
topics, includes the sustainability section. 
Astarta was assisted by its advisor, EY, under the project Climate Corporate Governance 
Improvement and Climate Action Plan EY and conducted a comprehensive analysis of current 
climate corporate governance framework. As a result, several key areas, namely: the board’s 
oversight of climate related risks and responsibilities and management’s role in assessing and 
managing climate-related risks and opportunities were identified as those that can be 
potentially improved through:

19 
SUSTAINABILITY REPORT 2022 
 
Board oversight of climate related risks 
and responsibilities 
Management’s role in assessing and 
managing climate-related risks and 
opportunities 
1. Enhancement of the process by which the 
Board is informed about climate related 
issues  
2. Audit committee to oversee material 
climate-related risks  
3. Clearly state the commitment to the 
climate strategy, climate risk management, 
performance setting and investment  
4. Improve the governance mechanism by 
further 
integration 
of 
climate 
considerations 
into 
risk 
management, 
strategy setting/oversight and performance 
monitoring  
5. Setting emission and non-emission related 
targets with further monitoring of progress 
against these targets  
6. Implementation of system of climate 
related KPI and corresponding monetary 
incentives for the Board 
1. Enhancement of the process by which 
Management 
is 
informed 
about 
climate related issues  
2. Clear definition of climate roles and 
responsibilities in senior managerial 
positions and those forming the ESG 
committee  
3. Cascade 
down 
climate 
oversight 
functions from the Board’s SCR 
Committee to the ESG committee of 
executive management  
4. Update the current system of KPI and 
related incentives with KPIs and 
incentives tied to climate related 
targets  
In 2023 Astarta plans to review its corporate governance framework to implement the 
recommendations. 
Strategy and risk management 
Within the Climate Action Plan Astarta, together with EY, conducted a comprehensive analysis 
of climate-related risks, opportunities and financial impacts based on TCFD recommendations. 
The climate-related risks were grouped into two groups, accordingly: physical and transition.  
Physical risks and opportunities 
According to TCFD physical risks are the risks that emanate from climate change and relate to 
event-driven (acute) risk such as increased severity of extreme weather events (e.g., cyclones, 
droughts, floods, and fires) as well as to longer-term shifts (chronic) in precipitation and 
temperature and increased variability in weather patterns (e.g., sea level rise). While a 
potential positive impact can arise from efforts undertaken to mitigate and adapt to climate 
change. 
Analysis of physical risks and opportunities under the 1.5ºС and >3ºС temperature scenarios 
was performed using the Representative Concentration Pathway (RCP) scenarios: Scenario 1 - 
RCP 1.9 (1.5°C equivalent) and Scenario 2 - RCP 8.5 (> 3°C equivalent).  
To estimate the importance of the risks and opportunities for the Company a dedicated scoring 
matrix of prioritisation of risks and opportunities was developed. The scoring approach 
considers the following parameters: 
Likelihood: indicates the probability of the risk and opportunity materialising over the projection 
horizon;

20 
SUSTAINABILITY REPORT 2022 
 
Likelihood Description 
High 
Risk/ opportunity is highly likely to occur with high frequencies of recurrence 
Medium 
Risk/ opportunity is occasional in nature with moderate frequency of recurrence 
Low 
Risk/ opportunity is less likely to occur with low frequency of recurrence 
Impact: indicates the severity and duration of financial /operational impact, should the risk and 
opportunity materialise. 
Impact 
Description 
Strongly positive 
Opportunity is expected to create high monetary benefits for business/ 
operations and persist for a long duration 
Positive 
Opportunity is expected to create moderate monetary  
benefits for business/ operations and persist for long to medium duration 
Neutral  
Risk/opportunity is expected to have minimal positive/negative impact on 
business/ operations and persist for medium to short duration 
Negative 
Risk 
is 
expected 
to 
have 
moderate 
financial 
impact 
on 
business/operations and persist for long to medium duration 
Strongly negative Risk is expected to have high financial impact on business/ operations 
and persists for a long duration 
Based on the level of likelihood and impact a score from 0 (a risk with the low level of 
likelihood and neutral impact) to -12 (a risk with the high level of likelihood and strongly 
negative impact) was assigned to each risk identified. A score from 0 (an opportunity with the 
low level of likelihood and neutral impact) to 12 (an opportunity with the high level of likelihood 
and strongly positive impact) was assigned to each opportunity identified. 
The physical risks analysis covers a projection horizon from 2020 to 2050 and focuses on the 
most significant (by the size of leased farmland) regions of Astarta`s operations in the Centre 
and West of Ukraine as well as key business segments of the Company. 
Physical risks and opportunities identified and analysed are presented in the tables below.

21 
SUSTAINABILITY REPORT 2022 
 
Material risks. 
Risk 
Description 
Category Score 
Financial 
implication 
Possible adaptation measures 
P1 
P2 
P1 
P2 
R1 
Increase in labour 
costs 
due 
to 
change 
in 
production/ 
efficiency/ 
productivity/ 
hiring arising from 
extreme heat 
As 
climate 
change 
increases the severity and 
frequency of extreme heat 
events, workers may be 
more at risk from being 
impacted by extreme heat. 
This 
may 
reduce 
time 
spent in the farms, impact 
the health and well-being 
of vulnerable employees, 
reduce 
production, 
and 
may result in increased 
costs to protect workers or 
decrease in revenue due 
to production losses 
Acute 
-6 
-6 
Below 
materiality 
level 
Below 
materiality 
level 
Improvement and implementation of 
engineering 
controls 
such 
as 
reflective or heat-absorbing shielding/ 
barriers, appropriate air conditioning 
to manage heat stress and keep the 
working areas cooler 
Enhance 
labour 
management 
practices to manage heat stress such 
as limiting time in heat, effective 
rotation of employees, monitoring of 
labour, increasing the number of 
workers per task, providing adequate 
amounts of cool, potable water near 
the work area, permitting rest periods, 
etc 
Training programs on heat stress for 
employees

22 
SUSTAINABILITY REPORT 2022 
 
R2 
Increase in mean 
temperature 
could cause heat 
stress 
to 
farm 
animals/ cows 
Increase 
in 
mean 
temperature could cause 
heat 
stress 
to 
farm 
animals/ cows resulting in 
lower production volumes 
impacting revenue growth. 
Therefore, 
Astarta 
may 
have to invest more on 
animal housing conditions 
such as ventilation, etc to 
overcome such conditions 
which 
may 
result 
in 
additional costs. 
Acute 
-6 
-6 
Annual 
value 
of 
milk 
production 
lost up to 
1.1% 
Annual 
value 
of 
milk 
production 
lost up to 
1.5% 
Appropriate shade and improvement 
of ventilation to protect cattle from 
heat 
stress 
through 
creation 
of 
integrated shelter beds and effective 
barn ventilation 
Cooling with water to help the cattle 
manage their body heat through the 
use of sprinklers & misters 
Hydration through water intake and 
feeding habits to regulate body 
temperature during heat stress 
P1 – 1.5°C equivalent pathway (Scenario 1: RCP 1.9); P2 – > 3°C equivalent pathway (Scenario 2: RCP 8.5)

23 
SUSTAINABILITY REPORT 2022 
 
Risk 
Description 
Category Score 
Financial 
implication 
Possible adaptation measures 
P1 
P2 
P1 
P2 
R3 
Increase in severity 
of 
acute 
weather 
events like drought 
may result in supply 
chain 
disruptions 
leading to decline in 
production volumes 
Increase in severity of acute 
weather events like drought 
may potentially impact the 
availability of water which 
can 
decrease 
yields 
especially of water intense 
crops such as wheat and soy 
resulting in supply chain 
disruptions leading to lower 
annual production volumes  
Acute 
-2 
-8 
Yields 
decrease 
can result in supply 
chain 
disruptions 
leading to lower 
annual production 
volumes impacting 
revenue  
Diversification of supplier base to 
spread the risks and reduce their 
impact 
Strengthening of risk management 
over the supply chain 
Promotion of agroforestry practices 
among framers in the supply chain to 
increase 
the 
moisture 
absorptive 
capacity 
of 
soil 
and 
reduce 
evapotranspiration, alongside reducing 
soil temperature for crops planted 
underneath 
and 
decrease 
runoff 
velocity and soil erosion from heavy 
rainfall 
Promotion of use of climate smart 
technologies among framers in the 
supply 
chain 
to 
increase 
yields, 
maximize field productivity, control the 
influence of weather on crops, detect 
problems on fields, and support the 
fertility of the soil 
Help with crop selection and promotion 
of scientific based crop rotation among 
the farmers in the supply chain in 
drought prone or water scarce regions

24 
SUSTAINABILITY REPORT 2022 
 
Promotion 
of 
enhancement 
of 
precision and regenerative farming 
practices such as reduced tillage or no-
tillage, leaving as much residue on the 
surface as possible, building soil 
organic 
matter 
with 
manures 
or 
composts etc. 
P1 – 1.5°C equivalent pathway (Scenario 1: RCP 1.9); P2 – > 3°C equivalent pathway (Scenario 2: RCP 8.5) 
Risk 
Description 
Category Score 
Financial 
implication 
Possible adaptation measures 
P1 
P2 
P1 
P2 
R4 
Increase 
in 
severity of acute 
weather 
events 
like drought may 
lead to decline in 
harvest volumes 
Increase in severity of 
acute weather events like 
drought 
may 
potentially 
decrease yields resulting in 
lower annual production 
volumes  
Acute 
-2 
-8 
Yields decrease can 
result in lower annual 
production 
volumes 
impacting revenue 
Implementation 
of 
agroforestry 
practices to increase the moisture 
absorptive capacity of soil and reduce 
evapotranspiration, alongside reducing 
soil temperature for crops planted 
underneath 
and 
decrease 
runoff 
velocity and soil erosion from heavy 
rainfall 
Geographical diversification to northern 
regions of Ukraine especially the north-
western 
region 
may 
significantly 
increase the yields of water intensive 
crops 
Higher 
use 
of 
climate 
smart 
technologies 
to 
increase 
yields,

25 
SUSTAINABILITY REPORT 2022 
 
maximize field productivity, control the 
influence of weather on crops, detect 
problems on fields, and support the 
fertility of the soil 
Crop selection in favour of drought 
resistant in drought prone or water 
scarce regions 
Irrigation and improvement of its 
efficiency 
Wider use of precision and regenerative 
farming practices such as differentiated 
fertilizers 
and 
seeds 
applications, 
reduced tillage or no-tillage, leaving as 
much residue on the surface as 
possible, building soil organic matter 
with manures or composts etc. 
P1 – 1.5°C equivalent pathway (Scenario 1: RCP 1.9); P2 – > 3°C equivalent pathway (Scenario 2: RCP 8.5)

26 
SUSTAINABILITY REPORT 2022 
 
Other non-material risks. 
 
Risk 
Description 
Category 
Score 
P1 
P2 
R5 
Decline in corn yields resulting in 
lower harvest 
Increase in mean temperatures and seasonal precipitation changes 
coupled with increased CO2 concentration would result in decrease 
in corn yields impacting revenues from corn sales 
Chronic 
0 
-2 
R6 
Decline 
in 
sugar 
beet 
yields 
impacting sugar production 
Increase in mean temperatures and seasonal precipitation changes 
coupled with increased CO2 concentration would result in decrease 
in sugar beet yields leading to lower sugar production and revenues 
Chronic 
0 
-2 
R7 
Increase 
in 
severity 
of 
acute 
weather events such as heatwaves, 
river floods, wild fires etc may lead 
to decline in production volumes 
Increase in severity of acute weather events such as heatwaves, 
river floods, wildfires etc may potentially destroy crops resulting in 
lower production volumes impacting revenue  
Acute 
0 
0 
R8 
Loss of physical assets as a result 
of acute weather events  
Increase in severity of acute weather events may result in loss of 
physical assets such as agricultural machinery, storage facilities, 
etc which may result in production losses and additional 
maintenance and replacement costs for the damaged assets 
Acute 
0 
0 
R9 
Increase in severity of rainfall, 
floods and changes in wind speed 
etc may lead to soil erosion and 
subsequent decline in production 
volumes 
Increase in severity of rainfall, floods and changes in wind speed 
etc may cause soil erosion potentially resulting in lower production 
volumes and revenue  
Acute 
0 
0 
R10 
Decline in corn yields leading to 
lower output by suppliers and 
Company’s sales 
Corn yields across Ukraine are expected to decrease due to 
increase in mean temperatures and seasonal precipitation changes 
coupled with increased CO2 concentration leading to lower output 
by suppliers and Company’s sales 
Chronic 
0 
-2

27 
SUSTAINABILITY REPORT 2022 
 
R11 
Decline in sugar beet yields leading 
to lower output by suppliers and 
sugar production 
Sugar beet yields across Ukraine are expected to decrease due to 
increase in mean temperatures and seasonal precipitation changes 
coupled with increased CO2 concentration leading to lower output 
by suppliers and sugar production 
Chronic 
0 
-2 
R12 
Increase 
in 
severity 
of 
acute 
weather events may result in 
supply chain disruptions leading to 
decline in production volumes 
Increase in severity of acute weather events may potentially destroy 
crops resulting in supply chain disruptions leading to lower 
production   
Acute 
0 
0 
R13 
Loss of physical assets as a result 
of acute weather events leading to 
supply chain disruptions 
Increase in severity of acute weather events may result in supply 
chain disruptions due to loss of physical assets such as agricultural 
machinery, storage facilities, etc which may impact revenues 
Acute 
0 
0 
R14 
Increase in insurance premiums as 
a result of acute weather events  
Increase in severity of acute weather events may result in crop 
damage, loss of physical assets potentially increasing the frequency 
of average insurance claims, therefore increasing the insurance 
premium rates during renewal cycles 
Acute 
0 
0 
P1 – 1.5°C equivalent pathway (Scenario 1: RCP 1.9); P2 – > 3°C equivalent pathway (Scenario 2: RCP 8.5) 
Opportunities 
 
Opportunity 
Description 
Category 
Score 
Financial implication 
P1 
P2 
P1 
P2 
O1 
Increase in soy yields 
leading 
to 
higher 
soybean 
processing 
volumes 
Soy yields across Ukraine are expected at higher 
mean temperatures and annual precipitation 
levels, leading to higher soybean processing 
volumes and revenue 
Resilience 
12 
6 
Below 
materiality 
level 
Increase 
in 
revenues 
up 
to 
EUR0.9m 
O2 
Increase in wheat yields 
leading to higher output 
Higher mean temperatures, precipitation levels 
and CO2 concentration, lower number of frost 
nights in Ukraine will result in higher wheat yields 
Resilience 
12 
12 
Increase 
in 
revenues up 
to EUR1.5m 
Increase 
in 
revenues 
up 
to 
EUR2.1m

28 
SUSTAINABILITY REPORT 2022 
 
and, along with bigger share of winter crops in the 
crop rotation cycle, may lead to higher revenue 
O3 
Increase in soy yields 
leading to higher output 
by 
suppliers 
and 
soybean 
processing 
volumes 
Soy yields across Ukraine are expected to increase 
at 
higher 
mean 
temperatures 
and 
annual 
precipitation levels, leading to higher output by 
suppliers and soybean processing volumes  
Resilience 
12 
6 
Below 
materiality 
level 
Increase 
in 
revenues 
up 
to 
EUR0.6m 
O4 
Increase in wheat yields 
leading to higher output 
by suppliers and sales 
volume 
Increase in mean temperatures, precipitation 
levels and CO2 concentration, lower number of 
frost nights in Ukraine will result in higher wheat 
yields and, along with bigger share of winter crops 
may lead to higher output by suppliers and sales 
volume 
Resilience 
12 
12 
Below 
materiality 
level 
Below 
materiality 
level 
P1 – 1.5°C equivalent pathway (Scenario 1: RCP 1.9); P2 – > 3°C equivalent pathway (Scenario 2: RCP 8.5)

29 
SUSTAINABILITY REPORT 2022 
 
Physical risks and opportunities summary scoring matrix. 
 
Pathway 1 
 
Likelihood 
Low 
Medium 
High 
Impact 
Strongly 
Positive 
 
 
O1; O2; O3; O4 
Positive 
 
 
 
Neutral 
R5; R6; R7; R8; 
R9; R10; R11; 
R12; R13; R14 
 
 
Negative 
R3; R4; 
 
R1; R2; 
Strongly 
Negative 
 
 
 
 
Pathway 2 
Likelihood 
Low 
Medium 
High 
Impact 
Strongly 
Positive 
 
 
O2; O4 
Positive 
 
 
O1; O3 
Neutral 
R7; R8; R9; R12; 
R13; R14 
 
 
Negative 
R5; R6; R10; 
R11;  
 
R1; R2; 
Strongly 
Negative 
 
R3; R4; 
 
 
The matrix ranks prioritization of the physical risks and opportunities based on the level of 
likelihood and impact under two pathways: 1.5°C equivalent pathway (Scenario RCP 1.9) and 
>3°C equivalent pathway (Scenario 2 - RCP 8.5). Most of the physical risks are concentrated in 
the middle left area – risks with low level of likelihood and neutral or negative impact which 
suggest a low level of overall influence on the Company. At the same time risks in the bottom 
right area are the risks related to acute events such as drought and heat wave resulting in 
episodic decrease in production efficiency, crops and milk yields. Such risks require particular 
attention and implementation of measures by the Company’s management to reduce possible 
impact. The potential adaptation measures for material risks R1 – R4 are indicated in the 
tables on the pages 21-24.

30 
SUSTAINABILITY REPORT 2022 
 
At the same time both pathways lead to opportunities arising from expected gradual increase 
in mean temperature, annual precipitation levels and decrease in the number of frost nights in 
Ukraine resulting in higher yields in the long run. 
Transition risks and opportunities 
According to TCFD transition risks are the risks that show non-physical potential impacts of 
climate change on the organization and can be associated with the transition to a lower-carbon 
global economy, the most common of which relate to policy and legal actions, technology 
changes, market responses, and reputational considerations. 
Analysis of transitional risks and opportunities was performed based on the scenarios 
developed by International Energy Agency (IEA); Network for Greening the Financial System 
(NGFS); Principles for Responsible Investment network (PRI). The following scenarios were 
chosen to identify and analyse risks and opportunities under the 1.5ºС and >3ºС pathways: 
Scenarios under 1.5ºС pathway:  IEA Net Zero Emissions by 2050, NGFS Net Zero 2050, PRI 
IPR 1.5°C Required Policy Scenario, which mostly correspond to each other. 
Scenarios under >3ºС pathway: IEA Stated Policies, NGFS Current Policies Scenario, which 
mostly correspond to each other. 
Key assumptions under chosen scenarios. 
Scenarios 
Key assumptions 
Scenarios under 1.5ºС pathway 
IEA 
Net 
Zero 
Emissions by 2050 
- 
significant strengthening of climate and energy policy 
requirements; 
- 
the rapid growth of the share of non-fossil fuel energy sources; 
- 
long-term development of wind and solar energy; 
- 
considerable growth of biofuel production and direct air 
capture; 
- 
launching and further development of hydrogen production; 
- 
substantial growth of electricity consumption and decrease of 
heat consumption; 
- 
almost all heavy-duty trucks sold in 2050 will be partially or 
fully electric; 
- 
carbon price will grow dramatically and in 2050 reach USD200 
per t CO2; 
- 
investment in clean energy will be extremely high since 2030. 
NGFS Net Zero 2050 
- 
Global agricultural demand growth on back of increase in world 
population will lead to agricultural output growth by 94% to 
10.9bt in 2050 compared to 2020; 
- 
The volume of CO2 emissions from the Agriculture, Forestry and 
Other Land Use (AFOLU) sector is expected to decrease 7-fold 
to 726mt CO2 in 2050 compared to 2020; 
- 
Gradual increase in the price of agricultural products in the 
short and long-term; 
- 
Long-term interest rates are expected to increase by 2030 and 
go down from 2030 to 2050; 
- 
In Ukraine, carbon tax is expected to grow up to USD79 per t 
CO2 by 2025 (from less than USD1 per t currently), by 2030 - 
up to USD109 per t CO2 and by 2050 - up to USD455 per t CO2; 
- 
The price for electricity in Ukraine is expected to increase 
sharply by 180% to 35 real 2010 US Dollars per gigajoule

31 
SUSTAINABILITY REPORT 2022 
 
(USD2010/GJ) in 2030 compared to 2020 and gradually go 
down by 35% to 23 USD2010/GJ in 2050 compared to 2030; 
- 
The price for gas and liquid fuel in Ukraine is expected to 
gradually grow at CAGR of 6% and 4% correspondingly; 
- 
Development of fossil Carbon Capture and Storage (CCS) and 
Bioenergy Carbon Capture and Storage (BECCS) technologies 
for use after 2025. 
PRI IPR 1.5°C 
Required Policy 
- 
A rapid end to deforestation across the entire globe, ideally by 
2025 and before 2030. If not, the energy system has to absorb 
greater reductions, potentially through BECC; 
- 
Unabated coal fully decommissioned in most advanced 
economies including China by 2035; 
- 
Phase out new fossil cars in almost all markets by 2040 and 
transition to 100% clean power globally by 2045;  
- 
Strict political containment of emissions and full transition to 
clean energy sources; 
- 
Highly interventionist regulation, approval of cellular agriculture 
globally; 
- 
Development of the alternative meat market and cellular 
agriculture; 
- 
Achieving negative CO2 emissions from the land use sector in 
2043. 
• Scenarios under >3ºС pathways 
IEA Stated Policies 
- 
Smooth growth of the share of renewable energy sources in the 
world energy supply with a gradual decline in the use of coal; 
- 
Growth of electricity consumption; 
- 
Development of biofuel production. 
NGFS Current Policies 
Scenario 
- 
Global agricultural demand growth on back of increasing world 
population leading to agricultural output growth of 47% by 
2050; 
- 
Gradual reduction of CO2 emissions from the AFOLU sector until 
2035 (by 29%) compared to 2020 and growth in the 
subsequent period by 11% in 2050 compared to 2035; 
- 
Declining prices for agricultural products;  
- 
In Ukraine carbon tax is expected to remain almost unchanged 
by 2035 with increase by 2050 up to USD2.65 per t CO2; 
- 
The price for electricity in Ukraine is expected to increase 
sharply by 250% to 23 USD2010/GJ in 2035 compared with 
2020 and then gradually go down by 10% to 20 USD2010/GJ 
in 2050 compared to 2035; 
- 
The price for gas and liquid fuel in Ukraine is expected to 
increase gradually at CAGR of 3% and 2% correspondingly. 
Transition risks and opportunities analysis was conducted using similar approach to those of 
physical risks and opportunities scoring that enables prioritisation of risks and opportunities. 
The scoring matrix considers the following parameters:

32 
SUSTAINABILITY REPORT 2022 
 
Likelihood: indicates the probability of the risk and opportunity materialising over the projection 
horizon; 
Likelihood Description 
High 
Risk/ opportunity is highly likely to occur with high frequencies of recurrence 
Medium 
Risk/ opportunity is occasional in nature with moderate frequency of recurrence 
Low 
Risk/ opportunity is less likely to occur with low frequency of recurrence 
 
Impact: indicates the severity and duration of financial /operational impact, should the risk and 
opportunity materialise. 
Impact 
Description 
Strongly positive 
Opportunity is expected to create high monetary benefits for business/ 
operations and persist for a long duration 
Positive 
Opportunity is expected to create moderate monetary benefits for 
business/ operations and persist for long to medium duration 
Neutral  
Risk/opportunity is expected to have minimal positive/negative impact on 
business/ operations and persist for medium to low duration 
Negative 
Risk 
is 
expected 
to 
have 
moderate 
financial 
impact 
on 
business/operations and persist for long to medium duration 
Strongly negative Risk is expected to have high financial impact on business/ operations 
and persist for a long duration 
Based on the level of likelihood and impact a score from 0 (a risk with the low level of 
likelihood and neutral impact) to -12 (a risk with the high level of likelihood and strongly 
negative impact) was assigned to each risk identified. A score from 0 (an opportunity with the 
low level of likelihood and/or neutral impact) to 12 (an opportunity with the high level of 
likelihood and strongly positive impact) was assigned to each opportunity identified. 
The transition risks analysis covers short-term (2022-2025), medium-term (2025-2030) and 
long-term (2030-2050).

33 
SUSTAINABILITY REPORT 2022 
 
Key transition risks and opportunities identified and analysed 
 
Risk 
Description 
Time 
period 
Categor
y 
Score 
Financial implication 
Possible 
adaptation 
measures 
P1 
P2 
P1 
P2 
R1 
Carbon tax 
 
As part of environmental tax in 
Ukraine the company is charged 
for emissions from stationary 
GHG sources. Increasing carbon 
tax rates will lead to a significant 
increase in Astarta's costs 
Short- 
and 
long-
term 
Policy 
and 
legal 
-12 
-4 
Increased 
costs 
≈USD5.2
m 
annually 
Below 
materiality 
level 
Investments in low-
carbon technologies 
R2 
Requirements 
of 
the 
Emissions 
Trading System and 
Carbon 
Border 
Adjustment 
Mechanism 
Introduction of emissions trading 
system in Ukraine under which 
the company will have to receive 
emission 
allowances 
or 
application of EU import-related 
requirements 
for 
Ukrainian 
exporters into the EU such as 
Carbon 
Border 
Adjustment 
Mechanism can lead to higher 
costs  
Short- 
and 
medium-
term 
Policy 
and 
legal 
-12 
-4 
Increased 
costs 
≈ 
USD10.9
m 
annually 
Below 
materiality 
level 
Investments in low-
carbon technologies 
R3 
Loss 
of 
some 
suppliers over their 
significant 
carbon 
footprint 
Growing climatic 
requirements 
can 
lead 
to 
the 
need 
for 
identifying and cooperating with 
greener suppliers, i.e. with lower 
carbon footprint 
Short-
term 
Market 
-2 
n/a 
Products 
from 
new 
suppliers with a smaller 
carbon footprint could cost 
more, 
which 
would 
negatively 
affect 
production costs 
Loss of some raw material 
suppliers 
could 
affect 
production volumes and 
Close 
cooperation 
with 
existing 
suppliers on climate-
related issues

34 
SUSTAINABILITY REPORT 2022 
 
productivity, which would 
have a negative impact on 
revenue 
R4 
Increase in energy 
prices 
Strengthening 
of 
climate 
regulation can result in higher 
energy prices, especially for fossil 
fuels, 
leading 
to 
increased 
production costs 
Short-
term 
Market 
-12 
-8 
Increased 
costs 
≈USD209
m 
annually 
Increased 
costs 
≈USD52m 
annually 
Investments 
in 
bioenergy 
projects 
and energy efficiency 
technologies 
to 
reduce 
energy 
intensity 
R5 
Increase in interest 
rates 
Increased tax rates on GHG 
emissions 
and 
other 
requirements for business can 
lead 
to 
significant 
increase 
product prices. Increase in the 
demand for capital due to the 
need to make significant capital 
investments. 
All of this will lead to an increase 
in policy and bank interest rates 
Short-
term 
Market 
-6 
n/a 
Below 
materialit
y level 
n/a 
n/a 
R6 
Increased 
stakeholders’ 
concerns 
or 
negative 
stakeholders’ 
feedback 
Failure 
to 
comply 
with 
new 
national and European standards 
on climate or delay in providing 
climate-related information could 
lead 
increased 
stakeholders’ 
concerns 
or 
negative 
stakeholders’ feedback 
Short- 
and 
medium-
term 
Reputati
on 
-4 
-2 
Increased 
concerns 
of 
shareholders, landowners, 
creditors, employees may 
affect the cost of land 
leases and capital 
Increased focus on 
compliance with all 
applicable 
national 
and 
European 
requirements 
on 
climate-related 
issues

35 
SUSTAINABILITY REPORT 2022 
 
R7 
Mandatory shifting 
of 
energy 
use 
towards 
lower 
emission sources 
Astarta may be forced to change 
energy suppliers or ensure own 
production of clean energy due to 
regulatory requirements 
Medium- 
and 
long-
term 
Policy 
and 
legal 
-12 
-4 
Total 
capital 
investmen
ts 
≈USD129
m  
Total 
capital 
investments: 
≈USD64m 
Timely 
investments 
into lower emission 
energy sources 
R8 
Mandatory adoption 
of energy-efficiency 
solutions 
Mandatory adoption of energy-
efficiency solutions can require 
replacement 
of 
outdated 
equipment and implementation of 
energy efficient measures leading 
to additional investments and 
costs   
Medium-
term 
Policy 
and 
legal 
-6 
n/a 
Not 
estimated 
n/a 
Timely 
investments 
into energy-efficiency 
solutions 
R9 
Costs 
to 
urgent 
transition to lower 
emissions 
technology 
Medium- 
and 
long-
term 
Technolo
gy 
-8 
-2 
R10 
Implementation 
of 
CCS technologies 
The ambitious emission reduction 
targets include implementation 
not 
only 
emission 
reduction 
technologies, but also carbon 
capture 
storage 
technologies 
leading 
to 
additional 
capital 
investments 
Medium-
term 
Technolo
gy 
-4 
n/a 
Increased 
costs 
≈USD22m 
annually 
n/a 
Monitoring of CO2 
capture technologies 
Study of available 
technologies 
for 
practical 
implementation 
R11 
Increased cost of 
raw materials 
Tightening requirements for the 
selection of suppliers, climate 
regulation and growing carbon tax 
can result in higher prices for key 
inputs 
and, 
consequently, 
to 
higher production costs 
Medium-
term 
Market 
-6 
n/a 
Increased 
costs: 
≈ 
USD3.6m 
annually 
n/a 
n/a

36 
SUSTAINABILITY REPORT 2022 
 
R12 
Switch to electric 
heavy trucks 
 
New policies can be adopted to 
support low-emission solutions for 
transport 
including 
electric 
agricultural 
machinery. 
There 
might be restrictions on use of 
heavy fossil fuel-run trucks in the 
future.  Vehicle replacement may 
require 
additional 
capital 
expenditures. 
Long-
term 
Policy 
and 
legal 
-4 
n/a 
Increased 
costs: 
≈USD0.7
m 
annually 
n/a 
n/a 
R13 
Shifts in consumer 
preferences 
to 
more low carbon 
products 
Increased customers attention to 
carbon 
footprint 
of 
products, 
growing awareness of the impact 
of agriculture on climate change, 
rising obesity and health issues 
can change consumer behaviour 
and preferences.  
Short- 
and 
long-
term 
Market 
0 
-4 
Additional investment to 
reduce carbon footprint 
can 
affect 
cost 
of 
production. Decrease in 
sales 
of 
traditional 
products can lead to lower 
revenues 
Investments into low 
carbon technologies; 
Further expansion of 
regenerative farming 
practices  
R14 
Mandates 
on 
regulation of water 
resources 
management (due 
to physical climate 
risks) 
New rules and requirements for 
water use affect the cost of water 
supply and drainage. Restrictions 
may 
also 
put 
in 
force 
the 
reduction of water consumption 
volumes 
for 
business. 
New 
technologies 
can 
also 
be 
implemented to reduce water 
consumption 
which 
may 
be 
accompanied 
by 
significant 
capital investment. 
Long-
term 
Policy 
and 
legal 
n/a 
-4 
n/a 
n/a 
P1 – Pathway 1: 1.5°C equivalent; P2 – Pathway 2:  >3°C equivalent

37 
SUSTAINABILITY REPORT 2022 
 
Opportunities 
 
Opportunity 
Description 
Time 
period 
Category Score 
Financial implication 
S1 
S2 
S1 
S2 
O1 
The emergence of new 
low-carbon technologies 
and solutions 
Astarta 
can 
benefit 
from 
the 
implementation of new technologies 
to improve its production process 
Short-
term 
Resilience 6 
n/a 
n/a 
n/a 
O2 
Development 
of 
low-
carbon/organic 
production 
Low-carbon and organic production 
can 
create 
new 
markets 
and 
customers 
Medium-
term 
Markets 
12 
4 
n/a 
n/a 
O3 
Improving 
production 
efficiency 
Low-carbon technologies can lead not 
only to reduced emissions but higher 
efficiency via reducing resources and 
energy consumption per unit of 
produced product 
Medium-
term 
Resource 
Efficiency 
4 
n/a 
Reduced operating costs (e.g., through 
efficiency gains and cost reductions) 
O4 
Increasing 
scale 
biomass 
processing 
(incl. biogas) to reduce 
energy costs  
Scaling 
up 
existing 
and 
implementation 
of 
new 
carbon 
neutral projects  
Medium-
term 
Resource 
Efficiency 
12 
8 
Average savings on 
the natural gas up 
to 
≈USD27m 
annually 
Average savings on 
the natural gas up 
to 
≈USD14m 
annually 
O5 
Participation 
in 
the 
voluntary carbon credit 
markets 
Measures taken to reduce GHG 
emissions can create possibility to 
participate in voluntary carbon credit 
markets and sell carbon credits 
Medium- 
and long-
term 
Products/ 
service 
Markets 
4 
2 
Below 
materiality 
level 
Below 
materiality 
level 
O6 
Strengthening 
competitiveness in the 
domestic 
and 
global 
sugar markets 
Expected reputational benefits from 
meeting the new requirements within 
the sustainability pathway 
Long-
term 
Markets 
4 
n/a 
n/a 
n/a

Transition risks and opportunities summary scoring matrix. 
Pathway 1 
Likelihood 
Low 
Medium 
High 
Impact 
Strongly Positive 
  
  
O2; O4 
Positive 
  
O3; O5; O6 
O1 
Neutral 
 
R13;  
O6 
Negative 
 R3; 
R6; R12 
R5; R8; R11 
Strongly Negative 
R10 
R9 
R1; R2; R4; 
R7 
 
Pathway 2 
Likelihood 
Low 
Medium 
High 
Impact 
Strongly Positive 
  
O4 
  
Positive 
O5 
O2 
  
Neutral 
 
 
  
Negative 
R9; R6 
R1; R2; R7; 
R13; R14 
 
Strongly Negative 
  
R4 
  
This Matrix illustrates the prioritization where each item is assessed by value. The most critical 
risks are located in the lower right red corner and the most beneficial opportunities - in the 
upper right green one. Middle yellow zone comprises the lower impact risks and opportunities. 
1.5°C pathway 
The 1.5°C pathway, assumes implementation of strict climate policy and legislative 
requirements, technology, and innovation, leading to significant risks and opportunities. 
Several risks are assessed to have a neutral impact despite medium to high likelihood. The 
remaining risks are expected to have negative and strongly negative impact with medium to 
high likelihood, to which the Company needs to pay special attention. Six out of eight transition 
climate opportunities are assessed to have a positive and strongly positive impact on Astarta, 
and two of them - neutral. The likelihood of all opportunities vary from medium to high. 
Opportunities with the highest impact and likelihood can help improve business processes, find 
new consumers and markets and, eventually lead to a positive effect on operational activities 
and/or profitability.

39 
SUSTAINABILITY REPORT 2022 
>3ºС pathway 
Scenarios within this pathway consider all existing and announced policy and legislative 
changes related to climate change as of 2022. There are no additional regulatory requirements 
for this scenario. However, an increase in the average temperature globally is projected at 
>3ºC. This will bring significant physical climate risks. Accordingly, transition climate risks will 
be significantly lower compared to the 1.5°C scenario. 
The impact of ten out of eleven transition climate risks on Astarta have mainly negative impact 
with likelihood from low to high which requires special attention from the management of the 
Company. A tangible positive impact is observed in three out of five opportunities with low and 
medium likelihood. The rest of the opportunities suggest neutral impact. 
Climate-related risks identification and assessment is part of the general approach to principal 
risk management. For more information on risk management please refer to the Risk 
Management section of this report. 
EU TAXONOMY DISCLOSURE 
According to the EU Taxonomy regulation an undertaking which is under obligation to publish 
non-financial information pursuant to Article 19a or Article 29a of Directive 2013/34/EU shall 
include in its annual report information on how and to what extent the undertaking’s activities 
are associated with economic activities that qualify as environmentally sustainable. The report 
needs to single out the proportion of business activities that are considered as eligible and 
aligned with the Taxonomy in their turnover, capital expenditure and operational expenditure. 
To identify eligible and aligned activities Astarta conducted screening of its activities with 
respect to their eligibility and alignment with the Taxonomy. As a result, the Company has not 
identified any activities that meet the scope of the Taxonomy. 
Therefore, 100% of the Company’s revenues (EUR510m), capital expenditures (EUR17m) and 
operational expenditure (EUR4.4m) were derived from non-eligible activities. As a result, the 
Company has no activities aligned with the Taxonomy. 
For this disclosure:  
• Total revenues – revenues from external customers; 
• Capital expenditure - additions to tangible and intangible assets considered before 
depreciation, amortisation and re-measurements, including those resulting from 
revaluations, impairments, excluding fair value changes, and additions to tangible and 
intangible assets resulting from business combinations; 
• Operational expenditure - R&D costs, building renovation costs, short term leases, 
maintenance and repair costs, all other direct costs necessary to operate the asset. 
At the same time Astarta has activities which it believes to be environmentally sustainable. 
Among these activities are:  
1. Anaerobic digestion of organic material with the resulting production of biogas. The 
Company operates a biogas facility which uses sugar beet pulp, a by-product of sugar 
beet processing, for production of biogas. The biogas is supplied to other production 
subsidiaries of the Company. Therefore, the revenues from this supply are recognised 
as intercompany revenues;  
2. Organic farming. The organic farming methods utilised by Astarta improve soil health 
and contribute to removal of CO2 from the atmosphere. One of the Company’s

40 
SUSTAINABILITY REPORT 2022 
subsidiaries obtained the status of an organic producer and uses 1.8kha of farmland 
for its operations. In 2022 revenues from sale of organic produce to external 
customers were EUR2.1m. 
RUSSIAN INVASION IMPACT 
The war created extremely difficult challenges for Ukraine which one could hardly imagine in 
the 21st century. Millions of Ukrainians had lost their security, housing, workplaces and some - 
their relatives and friends. Persistent military strikes on cities and towns by russian missiles, 
shelling and mining of vast areas is a colossal tragedy for people and a massive environmental 
disaster. 
Ukrainian businesses also faced unprecedented challenges. According to International Rescue 
Committee (IRC) 90% of enterprises suffered from reduced demand and 71% faced difficulties 
due to disruptions in supply chains. There is no sector in Ukraine that was not affected, as the 
war brought challenges to production processes, transportation of goods including for exports, 
human capital, etc. On top of that Ukraine is now among the world's most mine-contaminated 
countries which will be a significant issue for the next decades. 
Many businesses suffered physical damage to their assets including those from the agricultural 
sector. The most significant damage was done to farms in close proximity to military hostilities. 
According to IRC 25% of small farmers stopped or reduced agricultural production due to the 
war, while rising costs of production were felt across the country. According to the Ministry of 
Agriculture the total direct and indirect damage to the agriculture sector was estimated at 
USD41bn, adding to the Ukrainian economy contraction. 
In 2022 according to the National Bank of Ukraine 
the domestic economy contracted by 30%, 
inflation rose to 27%, unemployment reached 26% 
eroding livelihoods across the country. Persistent 
military shelling led to a huge number of casualties 
at the scale of humanitarian catastrophe. This lead 
to the Ukrainian population movement to the tune 
of 7.8m refugees across Europe – the largest 
displacement crisis in decades. In 2022 the UN 
Human Rights Office of the High Commissioner 
(OHCHR) recorded 17,994 civilian casualties of 
which 6,919 people were killed, including 429 
children. The OHCHR believed that the actual 
figures were considerably higher, as information from some locations where intense hostilities 
had been ongoing was delayed and many reports were still pending corroboration. 
Along with unimaginable social impact the Ukrainian environment also suffered from military 
hostilities. As of the end of 2022, according to the Ministry of Environmental Protection and 
Natural Resources of Ukraine, the total damage to the environment was estimated at more 
than EUR50bn, including:  
• Air pollution. Around 33mt of CO2 eq. were emitted in 2022 due to military hostilities, 
movement of internally displaced people and fires. It was also estimated that 49mt of 
CO2 eq. would be emitted in the process of the post-war recovery and reconstruction. 
Streets of Velyka Dymerka after russian invasion, the
Kyiv region

41 
SUSTAINABILITY REPORT 2022 
• Forest destruction. Along with CO2 emissions Ukraine suffered from significant damage 
to forests with over 340kha of woods damaged by fires and cut down to build tranches. 
• Groundwater and soil contamination. The war caused severe damage to the farmland 
and water resources as the soil and water reservoirs in military hostilities areas were 
polluted by chemicals and fuels from exploded rockets and artillery shells. Additionally, 
significant land area was damaged during the construction of defence lines leading to 
degradation of vegetation, wind and water erosion. 
• Habitat destruction. As a result of russian invasion around one third of the biodiversity 
was affected and 200 areas of the Emerald Network appeared to be close to extinction. 
The total war impact is hard to estimate as the destruction continues daily. But it became clear 
that consequences of the war brought by russia to Ukraine are felt all around the world. 
Impact on Astarta 
From the beginning of the full-scale war the Company’s top priority was health and safety of its 
employees and their families, as well as continuity of operations under the warfare conditions. 
Office-based personnel worked remotely from home and shelters while production-based 
employees performed their duties when it was safe to do so. Many employees had to relocate 
from homes to other Ukrainian regions, as well as send their families abroad. Some workers 
had been called into the military service and their colleagues were filling the gaps in the 
workplace. 
To support its employees the Company introduced special programme covering physical safety 
of employees, financial and psychological support, including for those drafted into the Armed 
Forces and their families. Over 300 of Astarta’s employees joined the army and 16 employees 
were killed in combat as of the date of this report. The Company provided aid to families of 
those who gave their lives for the country’s independence. 
In 2022 more than 300 employees were provided financial and non-financial assistance under 
such programme. War-related additional financial payments to employees totalled EUR0.15m 
on top of EUR1.6m of regular wages that the Company continued to pay to the employees who 
had been called to the Armed Forces of Ukraine. 
Astarta did not suffer material impact from physical damage of assets during the war with an 
exception of c.4kha under Astarta’s management in the Chernihiv region that were under 
temporary occupation until the beginning of April 2022. Later in the same month the land was 
cleared of mines, unexploded shells, and sizeable metal fragments. The land did not require 
massive reclamation and the Company returned to farming operations there. 
In May 2022 one of Astarta’s employees - a 
civilian tractor driver working in the field - 
died from missile fired at the vehicle from a 
russian military aircraft away from the 
battlefield. 
As a result of the mentioned russian military 
aircraft attack the tractor was destroyed. The 
estimated value of the machinery was 
EUR0.1m.  
During 2022 the Company provided 133 
units of motor transport of different types for 
A guided missile fired from a russian plane hit Astarta’s tractor 
working in the field

42 
SUSTAINABILITY REPORT 2022 
the needs of the Armed Forces of Ukraine with the total estimated value of EUR0.5m. 
The Company was also forced to reconsider its logistics modality. Before the full-scale war, 
Astarta’s entire agricultural produce was exported by sea. Due to the blockade of seaports in 
March-July 2022, coupled with insufficient capacity of the European railway infrastructure and 
inspection delays in the operations of the Odessa-based grain corridor by russian inspectors, 
Astarta explored alternative overland export routes. This, together with increased prices for 
overland logistics, led to growth of S&D expenses from 6% of revenues in 2021 to 13% of 
revenues in 2022. 
Due to high risks at the beginning of the war the operation of the soybean crushing plant was 
suspended for two weeks. In mid-March 2022 the Globynsky Processing Plant resumed 
operations and reached planned production capacity (for more information please refer to the 
Soybean Processing section of the Astarta’s Annual Report 2022). 
Due to the constant power outages caused by the russian missile attacks the Company 
purchased electricity generators to secure continuity of production processes. The cost of 
generators purchased in 2022 was EUR0.3m. 
Since the start of the war domestic government institutions and businesses faced constant 
cyber-attacks from russia. Well organized technical infrastructure and professional team of 
Astarta’s IT Department and proprietary IT software AgriChain successfully repelled these 
attacks. There was no damage to the IT systems of the Company recorded. 
In 2022 direct charitable and social contribution of the Company totalled EUR3.5m. Total 
contribution from a dedicated humanitarian project set up by Astarta in collaboration with other 
parties reached USD18m. Astarta co-founded a large-scale humanitarian project Common Help 
UA in March 2022. The project grew through membership of other businesses, international 
organizations, local communities which united to help people in need, nurture local 
entrepreneurship, create jobs for internally displaced people, support domestic producers and 
the economy as a whole. By the end of 2022, Astarta provided 28kt of humanitarian supplies, 
including 39k of food rations, to c. 716k internally displaced civilians.

43 
SUSTAINABILITY REPORT 2022 
ENVIROMENTAL 
Energy 
GRI-302; SDG-12 
The nature of Astarta’s business implies use of different energy resources like natural gas 
which is mainly used by the Sugar Production and Soybean Processing segments and liquid 
fuels mostly consumed in the Agriculture segment. 
In 2022 key production sites in the Sugar Productions and Soybean Processing successfully 
confirmed certification according to the international standard ISO 50001 “Energy 
management”. 
Sugar production is one of the most energy intensive processes in the food industry. Overall 
energy consumption in the Sugar Production decreased by 10% to 2,077kGJ due to lower 
production volumes. The natural gas consumption declined by 22% y-o-y to 38.6mm3 and 
biogas consumption increased 6x y-o-y to 7.4mm3. The share of the Sugar Production in the 
total energy consumption was 62%. 
The Agriculture segment is the main consumer of diesel used by agricultural machinery. In 
2022 diesel consumption per ha reduced by 10% y-o-y to 64kg/ha as some field operations 
were completed in 2023 whereas in 2021 these filed operations were performed before the 
year end. Overall energy consumption in the Agriculture reduced by 16% to 871kGJ 
representing a 26% share in total energy consumption. 
Energy consumption in the Soybean Processing increased by 22% y-o-y to 270kGJ due to 
higher soybean processing volumes in 2022. Biogas consumption in the Soybean processing 
segment increased 7x y-o-y to 6.2mm3 replacing the natural gas consumption needs by up to 
50% (or 3.5mm3). The share of the segment in the total energy consumption was 8%. 
The Cattle Farming energy consumption increased by 2% y-o-y to 117kGJ due to the growth in 
diesel consumption by 10% y-o-y to 1.7kt used for generators during blackouts. 
Responding to climate change Astarta seeks ways to reduce its negative impact through the 
use of sustainable energy sources like granulated beet pulp and biogas produced by an in-
house bioenergy facility which allows to partially replace natural gas at several production sites. 
Total energy consumption from renewable energy sources more than doubled y-o-y to 346kGJ 
representing 10% of the Company’s total energy balance. 
Astarta further enhanced the methodology of energy calculation by switching to use of the main 
source of specific indicators for the calculation of energy consumption is Ukraine’s Greenhouse 
Gas Inventory 1990-2020 (Annual National Inventory Report for Submission under the United 
Nations Framework Convention on Climate Change and the Kyoto Protocol, Kyiv 2022) and 
internal technical documentation. 
Based on the new calculation methodology the company restated energy consumption for the 
previous reporting period. The updated data is presented below.

44 
SUSTAINABILITY REPORT 2022 
Energy consumption by segments  
kGJ 
2020 
2021* 
2022 
Sugar Production 
2 088 
2 309 
2 077 
Agriculture  
1 050 
1 036 
871 
Soybean Processing 
271 
222 
270 
Cattle Farming 
108 
115 
117 
Total 
3 533 
3 689 
3 352 
*restated 
Energy consumption per source of energy 
kGJ 
2020 
2021* 
2022 
Non-renewable sources 
3 429 
3 549 
3 006 
Natural gas 
2 171 
2 121 
1 624 
Liquid fuels (diesel, petrol, LPG) 
842 
847 
757 
Coal 
253 
441 
496 
Electricity purchased 
164 
140 
128 
Renewable sources 
103 
140 
346 
Biogas 
73 
42 
255 
Other 
31 
98 
91 
Total 
3 533 
3 689 
3 352 
*restated 
Energy intensity per unit of production 
kGJ 
2020 
2021* 
2022 
Energy used per tonne of sugar produced  
7.2 
6.3 
7.1 
Energy used per tonne of crop grown 
0.3 
0.3 
0.3 
Energy used per tonne of soybean processed 
1.3 
1.3 
1.3 
Energy used per tonne of milk produced 
1.2 
1.2 
1.1 
*restated 
 
Water and Effluents 
GRI-303; SDG-6 
Water is the most widespread resource on the planet but only 2.5% of reserves is suitable for 
human consumption. According to FAO agriculture is the largest water user, accounting for 70% 
of total freshwater withdrawals. Ukraine is among the countries with insufficient access to 
freshwater resources which is especially noticeable in its southern regions in need for 
irrigation. 
Astarta’s business operations are in the central and western regions with higher levels of 
precipitation and availability of water resources. According to the Aqueduct Water Risk Atlas 
the Company withdraws water in high, medium-high, and low-medium areas of water risk. Yet, 
responsible consumption of water is among key priorities for the Company. 
Astarta withdraws fresh water from surface and underground sources according to limits and 
permits from local authorities.

45 
SUSTAINABILITY REPORT 2022 
In the Agriculture segment water is mainly used in irrigation and application of plant protection 
products, and general household needs. The discharged water is mainly wastewater collected 
in special reservoirs for further discharging and treatment by specialist organisations. 
In the Sugar Production water is used for washing sugar beets and for cooling power stations at 
sugar mills. Sugar plants have different categories of water used in sugar beet processing. The 
First category of water is technical water from a water reservoir, the Second category of water 
is clean water used for sugar beets washing and their transportation along the conveyor belt. 
The Third category of water is wastewater that contains sludge from the technological process. 
The latter category of water is not returned to the production cycle but discharged to the 
absorption fields next to the sugar plants for natural biological treatment of wastewater. 
The Soybean Processing segment withdraws relatively small amount of water for processing 
operations. Like in sugar operations wastewater is discharged to the absorption fields. 
Cattle Farming operations withdraw water mainly for watering the animals and washing milking 
equipment. The wastewater is discharged to special reservoirs for further discharging and 
treatment by specialist organisations. 
To control the quality of intake water and discharged wastewater Astarta performs a 
specialized analysis under internal annual monitoring plan. 
The Company initiated development of automated system for data collection for water and 
effluents. Thus, the data on water withdrawal, discharge and consumption will be presented 
after implementation of this system. 
Land Use and Biodiversity 
GRI-304; SDG-15 
Since the full scale russian invasion Ukrainian environment suffered significant damage 
caused by the military hostilities. As of the end of 2022 according to the Ministry of Ecology the 
total damage to the environment is estimated at UAH1.7 trillion (EUR50 billion). It includes 
damage from air pollution from burning of oil products; forests devasted by fires and cut down 
to build tranches; groundwater and soil got contaminated with heavy metals and toxic 
chemicals; wildlife killed or pushed out of their habitats etc. 
According to national experts Ukraine is home to more than 70k animals and plants species 
which represents 35% of the estimated European biodiversity. As a result of russian invasion 
around one third of the biodiversity was affected and 200 areas of the Emerald Network 
appeared to be close to extinction. 
The war also caused severe damage to the farmland which is a key asset for agriculture sector 
in Ukraine. The land around military hostilities was polluted by chemicals and fuels from 
exploded rockets and artillery shells affecting the local ecosystem. 
By way of example, below are the satellite images of the same field in the Kharkiv oblast 
published by the Ukrainian Nature Conversion Group (UNGC).

46 
SUSTAINABILITY REPORT 2022 
 
 
According to UNGC there are 480 craters from 82-millimeter shells, 547 craters from 120-
millimeter shells, and 1,025 craters from 152-millimeter shells on this image. As a result, 
around 50 tonnes of iron, 1 tonne of sulphur compounds, and 2.4 tonnes of copper was 
released into the soil within one square kilometre. 
Land under management of Astarta was not heavily affected except for c.4kha in the Chernihiv 
region which were under temporary occupation until the beginning of April 2022. The latter 
were cleared from mines, unexploded shells, and sizeable metal fragments. Considering that 
the land was not significantly affected and did not require reclamation Astarta returned to 
farming operations there. At the same time nearby forests are still not cleared of mines, 
unexploded shells, metal fragments and chemicals. 
Understanding the importance of preserving the biodiversity and land resources in farming 
operations Astarta is engaged in regenerative practices and aims to further tilt its farming 
practices towards higher positive impact on biodiversity and land. One of the key elements of 
regenerative farming is reduced tillage approach as the depth of tillage is linked to the soil 
degradation and change in biodiversity. In 2022 the Company applied reduced tillage to 
106kha. 
Another important element of regenerative farming is use of cover crops and reduction in use 
of synthetic fertilizers by applying nitrification inhibitors and organic fertilizers. These protects 
soil from erosion, therefore improving its health. In 2022 Astarta used cover crops, nitrification 
inhibitors and organic fertilizers on the area of 11kha. 
Astarta actively uses digital solutions for land management such as proprietary IT software 
called AgriChain developed by its in-house agritech subsidiary. The AgriChain Land module 
allows to monitor and control location of land plots operated by the Company in relation to the 
nature reserve areas. Astarta can make a fast verification whether a land plot which is 
considered for potential lease belongs to such areas. 
There are also other elements of digitalisation and precision farming employed such as 
differentiated sowing, fertilisers and crop protection application to improve productivity while 
mitigating negative impact on soil. 
Raw materials such as soybeans and sugar beets supplied to the Company’s processing plants 
are grown in-house or by local farmers. Neither Astarta’s agricultural subsidiaries engaged in 
crop and milk production, nor local farmers use any deforested land or involved in any kind of 
deforestation activities. 
Astarta’s approach to land use and biodiversity is based on the corresponding policies and 
standards developed according to national and international requirements.

47 
SUSTAINABILITY REPORT 2022 
Astarta implemented the following key standards, policies and procedures in the sphere of land 
use and biodiversity: the Sustainability Policy, the Environmental Policy, the Sustainable 
Agriculture Policy, the Deforestation Policy, the Biodiversity Corporate Standard. 
Based on the above-mentioned documents management of the Company is committed to: 
• assesses the potential effects, cumulative, direct and indirect impacts of any new or 
reconstruction project on biodiversity; 
• use the components of biological diversity in such a way and at a speed that does not 
lead to its long-term reduction  
• abide by the principle of avoiding the impact on biodiversity and minimization of 
potential impact; 
• keep the Company’s operating activities out of protected areas, such as nature 
reserves; 
• introduce modern regenerative farming practices; 
• use species that are naturally adapted to local and regional ecosystem for higher 
resistance to pests and diseases; 
• implement best practices for sustainable management. 
Emissions and Responding to Climate Change 
GRI-305; SDG-3, SDG-12, SDG-13, SDG-15 
GHG and other emissions  
Among emissions generated by Astarta’s business activities are greenhouse gas emissions: 
carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), and other emissions such as 
particulate matters (PM), nitrogen oxides (NOX), sulfur dioxide and compounds (SOX). 
The Company performs annual environmental monitoring under national law to control: 
• air emissions from stationary, mobile sources, and at the borders of the sanitary 
protection zones; 
• efficiency of dust and gas capture; 
Under the project Climate Action Plan Astarta updated its inventory of GHG emissions sources 
for all business segments following GHG Protocol Standards, IPCC Guidelines and Ukraine’s 
Greenhouse Gas Inventory 1990-2020. As a result, the Company enhanced disclosure of 
Scope 1, 2, 3 and added disclosure on biogenic emissions to this report. The global warming 
potential used in the calculations is based on the IPCC’s Sixth Assessment Report, 2022 (AR6). 
GHG emissions from land management, wastewater, and refrigerants were added to the 2022 
and 2021 Scope 1 emissions resulting in restatement of Scope 1 emissions for 2021. 
Scope 1 emissions  
Under an updated methodology, the Agriculture is the biggest emitter of direct GHG emissions 
(Scope 1) with 54% share of total. In 2022 the segment generated 261kt of CO2eq (down by 
15% y-o-y) with the most significant share of emissions coming from land management (78% of 
total). GHG emissions from land management decreased by 15% y-o-y to 204kt of CO2eq due to 
lower amount of nitrogen applied to soil. 
Direct GHG emissions in the Sugar Production (27% share in total Scope 1 emissions) 
decreased by 26% y-o-y to 128kt of CO2eq due to lower production volumes.

48 
SUSTAINABILITY REPORT 2022 
Direct GHG emissions from the Soybean Processing operations increased by 20% y-o-y to 13kt 
of CO2eq due to the increase in soybeans crushing volumes by 23%. Share in the total Scope 1 
emissions was 3%. 
Scope 1 emissions in Cattle Farming (stationary and mobile sources, manure management, 
enteric fermentation, refrigerants, and wastewater) were calculated according to Tier 2 
approach of IPPC Guidelines. Total direct emissions grew by 7% y-o-y to 74kt of CO2eq due to 
the increase of average annual herd. Share in the total Scope 1 emissions was 16%. 
Direct GHG emissions from the biogas production and head office are insignificant with 1% 
share in total Scope 1 emissions. 
Total Scope 1 emissions amounted 480kt of CO2eq, (down by 14% y-o-y) representing 63% 
within the scopes. 
Scope 2 emissions 
Scope 2 emissions are derived from consumption of purchased electricity. 
The Agriculture segment consumes purchased electricity mainly during the process of cleaning 
and drying grains and oilseeds. In 2022 the segment emissions were reduced by 28% y-o-y to 
4kt of CO2eq or 28% of total Scope 2 emissions, due to the lower volumes of grain and oilseeds 
handling. 
The Sugar Production segment uses electricity mainly during the plant maintenance period. Its 
share in total Scope 2 emissions is 17% or 3kt of CO2eq, down by 14% y-o-y reflecting lower 
volume of maintenance works. 
The Soybean Processing segment was the biggest consumer of purchased electricity and 
emitted 4kt of CO2eq (up by 9%) or 28% of total Scope 2 emissions. 
The Cattle Farming consumes purchased electricity to ensure the operation of refrigeration and 
milking equipment. Share in total Scope 2 emissions was 24% or 4kt of CO2eq in 2022. 
Total Scope 2 emissions amounted to 15kt of CO2eq (down by 8% y-o-y) with 2% within scopes. 
Scope 2 emissions calculation is based on the CO2e grid emissions factors from the 
Harmonized IFI Default Grid Factors 2021 v3.1. 
Scope 3 emissions 
In 2022 the Company calculated downstream and upstream emissions under GHG Protocol 
Corporate Value Chain (Scope 3) Accounting and Reporting Standard. Scope 3 emissions 
calculation was performed following CO2eq emission factors of GHG Protocol “Scope 3 
Evaluator”, Department for Environment, Food and Rural Affairs of UK, UK and England's 
carbon footprint to 2019, and United States Environmental Protection Agency, GHG Emission 
Factors Hub. 
According to GHG protocol Scope 3 emissions are divided into 15 distinct reporting categories. 
The Company evaluated all 15 categories and identified the following most applicable 
categories of Scope 3 emissions:  
-  Category 1 emissions from purchased goods and services are the most significant in the total 
Scope 3 emissions with 40% share or 109kt of CO2eq (up by 3% y-o-y).

49 
SUSTAINABILITY REPORT 2022 
- Category 3 emissions from fuel- and energy-related emissions decreased 16% y-o-y to 41kt of 
CO2eq due to lower fuel and electricity consumption. The category share in the total Scope 3 
emissions was 15%. 
- Category 4 emissions from upstream transportation and distribution increased by 30% to 
21kt of CO2eq due to longer delivery distances of input materials or 7% from the total Scope 3 
emissions. 
- Category 9 emissions from downstream transportation and distribution represent 25% share 
in the total Scope 3 emissions. In 2022 emissions in this category increased 3.5x to 67kt of 
CO2eq due to the change in products delivery terms towards longer delivery distances.  
Total Scope 3 emissions increased by 21% y-o-y to 271kt of CO2eq. corresponding to 35% share 
in total direct and indirect emissions. 
Biogenic emissions  
Biogenic CO2 emissions are defined as emissions from biological sources or materials derived 
from biological matter. Biogenic material is a material derived from biomass, which includes 
organic material (both living and dead), e.g. trees, crops, grasses, tree litter, algae, animals, 
manure and waste of biological origin. All sources of biogenic emissions are associated with 
carbon of biomass origin, which has been previously accumulated from atmosphere during 
biomass growth period. This defines separate approach for accounting of GHGs emissions 
compared to other anthropogenic emissions. 
In 2022 the Company calculated biogenic emissions for the first time. For comparison purpose 
Astarta also calculated biogenic emissions for 2021. The main sources of the Company’s 
biogenic emissions are soil organic carbon loss, biogas, and biomass combustion (dry 
granulated beet pulp and woodfire). 
Emissions from soil carbon loss increased by 27% to 286kt of CO2eq (92% share of total 
biogenic emissions) due to 41% lower amount of nitrogen application to the soil in 2022 at 
13kt. Lower nitrogen application rate leads to a rise in the share of carbon losses from soil. 
6x increase in biogenic emissions from biogas combustion to 14kt of CO2eq reflects higher 
biogas production volumes in 2022 versus the previous year. 
Summary data on Emissions  
kt of CO2eq 
2021 
2022 
Total emissions, including: 
1 040 
1 079 
Scope 1 
561 
480 
Scope 2 
17 
15 
Scope 3 
224 
273 
Biogenic emissions 
238 
311 
Scope 1 
 
 
By key gas type, kt  
СО2 
249 
199 
CH4 
2 
2 
N2O 
1 
1 
by segment, kt of CO2eq 
 
 
Agriculture 
308 
261 
Sugar Production 
172 
128 
Cattle Farming 
70 
74 
Soybean Processing 
11 
13

50 
SUSTAINABILITY REPORT 2022 
by source, kt of CO2eq 
 
 
Fuel combustion 
256 
207 
Land management  
240 
204 
Enteric fermentation 
51 
53 
Manure management 
11 
13 
Scope 2 
 
 
by segment, kt of CO2eq 
Agriculture 
6 
4 
Soybean Processing 
4 
4 
Cattle Farming 
4 
4 
Sugar Production 
3 
3 
Scope 3 
 
 
by key GHG protocol category, kt of CO2eq 
 
 
Category 1: Purchased goods and services  
106 
109 
Category 9: Downstream Transportation and Distribution 
19 
67 
Category 3: Fuel- and energy-related activities 
49 
41 
Category 2: Purchased capital goods  
35 
35 
Category 4: Upstream transportation and distribution 
15 
21 
Biogenic emissions 
 
 
by sources, kt of CO2eq 
Biogenic emissions from soil organic carbon loss (CO2 
emissions) 
226 
286 
Biogenic emissions from biogas combustion 
2 
14 
Emissions from biomass combustion 
10 
10 
As a business that operates in a land-intensive sector Astarta will consider joining the Science 
Based Targets initiative (SBTi) Forest, Land and Agriculture (FLAG). With this in mind, the 
Company also started to calculate emissions with the breakdown on FLAG and non-FLAG 
emissions. 
kt of CO2eq 
2021 
2022 
FLAG emissions, including: 
528 
556 
Soils 
466 
490 
Livestock 
62 
66 
Non-FLAG emissions, kt of CO2eq 
 
 
Non-FLAG emissions, including: 
288 
250 
Fossil fuels combustion 
256 
207 
Electricity purchased 
17 
15 
Biogas combustion 
2 
14 
Biomass combustion 
10 
10 
Other 
3 
4 
The FLAG emissions increased by 5% to 556kt of CO2eq with 69% share of all emissions due to 
the higher volumes of GHG emissions from land management. The non-FLAG emissions 
decreased by 13% to 250kt of CO2eq due to lower fossil fuel and purchased electricity 
consumption. 
Acting on Climate Change 
The russian invasion of Ukraine led to the significant damage to the environment with the 
impact spreading well beyond Ukrainian borders. It threatens the ambition of global efforts

51 
SUSTAINABILITY REPORT 2022 
towards curbing the climate change as the military hostilities cause large-scale emissions of 
greenhouse gases and contamination of the environment with harmful munition-related 
substances. According to the Ukrainian Ministry of Environment the war-related hostilities 
caused nearly 33mt of CO2eq. emissions, numerous fires and mass migration of the Ukrainian 
population. Post-war recovery and reconstruction would add an estimated 49mt of CO2eq. 
At the same time, Ukraine has a well developed agriculture which has a significant potential for 
removing CO2 from the atmosphere and storing it in soil and thus can play an important role in 
climate change mitigation. 
Land use and land use change is the largest component of climate mitigation after energy and 
industry. It is estimated that 25-30% of total human-related emissions come from agriculture, 
forestry and other land use (AFOLU). Agriculture occupies c.40% of global ice-free land, uses 
75-84% of global consumption of water and, among others, causes the biodiversity loss at the 
highest rate in history. Conventional agricultural methods also mean that up to 50% of 
synthetic fertilisers are not delivered to plants but sunk into the surface and groundwater or 
emitted into atmosphere contributing to the temperature rise. 
Scientists call for taking out 10-30% of land out of agricultural production for ecological 
conservation and, if done via reforestation, the decarbonisation would be an additional benefit. 
Water and fertilizer use can be reduced via precise application and soil analysis, and recycling 
of at least 50% of nutrients (manure, sewage, food processing waste). 
There is need to increase efficiency of water use by drip irrigation, recirculation in greenhouses 
on top of buffering of water resources in lakes and aquifers, and in soil through increasing 
organic matter content. Farmers need to change crop rotation by switching to crops with lower 
water needs in water scarce regions and develop circular farming business model. 
Agriculture has large potential to sequester carbon in plant biomass and in the soil. Worldwide 
soil contains 2,000-2,500Gt of carbon, which is 3X as much as all plants and 2X the amount of 
carbon in atmosphere. Agricultural soils have potential to sequester up to 2.5Gt of CO2 per 
annum and achieve more than 60% of CO2 sequestration targets for the Net Zero target 
according to IPPC. 
There are two main ways for increasing soil organic carbon (SOC) in soils and its storage: 
• increase carbon-reach inputs (crop residues, compost, manure) 
• reduce decomposition rate of organic matter and soil carbon losses due to erosion 
(reduced tillage, crop diversity, erosion management). 
It is estimated that agricultural soils lost 30-75% of original SOC due to conventional farming 
practices. The process of reaching a new SOC stock takes 10-50 years. Agricultural practices 
for sequestering carbon in the soil and biomass is called “carbon farming”. The main additional 
benefit of these practices is enhanced soil health and plant resilience to withstand different 
weather patterns. 
As one of the largest agricultural producers in Ukraine, Astarta is actively studying and utilising 
the elements of carbon and regenerative farming across its farmlands such as cover cropping, 
diversified crop rotation, crop residue covering, reduced tillage, organic fertilisers etc. The 
Company also has an in-house soil analysis laboratory and a unique database with a tight grid 
covering most of the fields under operational management. All key soil nutrients are regularly 
collected and monitored, and this information is used for adjusting the key soil fertility 
parameters.

52 
SUSTAINABILITY REPORT 2022 
By way of example, Differentiated Sowing and S-Control Monopile techniques tailor the amount 
of planting material to the specific land plot and allow increasing productivity of crops while 
saving on seeds. Astarta also actively uses other solutions such as AgriChain Scout - one of the 
key modules of AgriChain, Astarta’s proprietary IT software system. It allows for remote 
monitoring of the crop growth process on its fields. In 2022 a new module was added to 
AgriChain Scout to include automated soil sampling for further analysis in the laboratory. The 
soil sampling crew drives to a selected field under the app guidance to take samples from 
specific segments.  
Additionally, an application from the US “Planet Labs”, specialising in Earth observation from 
space, was integrated into AgriChain Scout, to monitor condition of crops such as the level of 
vegetation, and the quality of seedlings in the fields by satellites equipped with a high-
resolution telescope.  
The increase in the average annual temperature and lower precipitation levels in Ukraine 
command a gradual change of crop mix towards a higher share of winter crops such as wheat 
and rapeseeds. Astarta’s total acreage under winter crops increased from 54kha in 2021 to 
62kha in 2022. The is also an increased focus on drought resistant varieties of spring crops, 
applying reduced tillage to preserve moisture in the ground, tailoring density of sowing and 
fertiliser application to specific soil conditions. 
Another possible area of expansion for Astarta under changing climate conditions is irrigation. 
Currently, 500ha of its land is under irrigation and there is significant potential for expansion in 
the future. 
Agricultural science links climate risk mitigation to sequestration of carbon in soil and, at the 
same time, improving its health and productivity. The Company continued to follow a set of 
recommendations on regenerative practices developed within a project with Syngenta LLC 
(Ukraine). To measure the impact from change in farming practices Astarta developed a 
Baseline report for 2020 and monitors the carbon sequestration results on an annual basis 
through the Cool Farm Tool. 
Decarbonisation of the industrial processes of Astarta’s business has been long established via 
reduction of natural gas consumption at the sugar mills under the energy efficiency programme 
of BAT (best available technology) and introduction of the bioenergy pellets as an alternative 
source of energy for beet pulp drying instead of natural gas. 
Also in Sugar Production and Soybean Processing Astarta uses biogas from an inhouse biogas 
facility to replace natural gas consumption. This biogas facility uses sugar beet pulp, a residue 
from sugar production, as a primary raw material for biogas production. In 2022 replacement 
of natural gas with biogas reached 10% out of total gas consumption in the Sugar Production 
segment versus 2% in 2021, and in the Soybean Processing segment biogas substituted 50% 
of total gas needs versus negligible amount in 2021. 
In 2022 Astarta continued reporting under the Carbon Disclosure Project (CDP) on its activities 
aimed at climate change adaptation and mitigation. 
In 2022 Astarta entered into a tri-party agreement with the EBRD and EY to develop a 
comprehensive system of climate corporate governance. Under the project the Company 
enhanced its GHG calculation for Scope 1-3, was provided with a climate scenario analysis for 
1.5-4ºС growth in global temperature, identified physical and transitional climate risks, 
analysed existing and prospective decarbonisation initiatives.

53 
SUSTAINABILITY REPORT 2022 
Waste 
GRI-306; SDG-3, SDG-6, SDG-12 
As a big agroindustrial holding Astarta generates hazardous and non-hazardous waste in the 
process of its daily operating activities. The separate waste collection and temporary storage 
comply with domestic legislation and internal standards. Before disposing of hazardous and 
non-hazardous waste, it is temporary stored in special yards with marked boxes for waste 
sorting. To dispose the hazardous and non-hazardous waste, Astarta cooperates with 
companies that are reputable and licensed by relevant authorities to handle such waste. Within 
waste recovery operations these companies can obtain valuable components or incinerate 
waste for energy generation. 
The waste generated by the Company is determined by the level of hazard: 1st, 2nd, 3rd and 4th 
categories in line with national requirements. The share of hazardous waste is negligible and 
mainly comes from fluorescent lamps, battery packs, used oils, used packaging of pesticides, 
fertilizers, other chemical materials etc. 
Non-hazardous waste generated by the Company mainly includes residue from the production 
process such as paper, plastic, waste from packaging materials, used tires etc.  
Solid household waste generated within the Company’s activity is disposed at landfills. 
In the process of sugar beets processing Astarta produces sugar and generates by-products 
such as sugar beet pulp and molasses. Sugar is sold mainly in 25kg, 50kg and 1000kg 
polypropylene bags as well as in bulk. Bags for sugar packaging are supplied by third parties. 
Customers who buy sugar in bags can either dispose of or reuse these bags. Molasses is sold 
as is while sugar beet pulp is partially baked into a granulated product and partially used as a 
feed for livestock. 
The Sugar Production segment also generates filtration sludge in the technological process. 
This type of waste has two fractions: dry and wet. The wet fraction is disposed to the absorption 
fields. The dry fraction is used for absorption fields maintenance. Other waste generated by the 
segment comes from input materials such as technological inputs, batteries, materials for 
laboratory and transport maintenance which are sent on for further disposal by third parties. 
The key products produced by the Agricultural segment are grains and oilseeds as well as 
sugar beets. Grains and oilseeds are sold in bulk mainly for exports and sugar beets are 
processed internally by the Sugar Production segment. The Agricultural segment generates 
organic residue after harvesting row crops. Some of the residue are left in the fields to preserve 
soil and some are used in cattle farming as bedding for cows. 
There is also some plant-based residue generated in silo handling of grains and oilseeds which 
are partially disposed to landfills and partially sold. The residue which is sold can be processed 
into pellets, feeds, and animal bedding. The Agriculture segment also generates waste from 
operating and maintenance of machinery and transport as well as packaging from pesticides 
and fertilisers which are further utilized by relevant companies. 
Soybean meal and oil are the key products in soybean crushing which are sold in bulk. The by-
product of the crushing process is husk which is sold to third parties. The Soybean Processing 
segment also generates waste during the process of cleaning equipment, wastewater 
treatment, and replacement of filters in dust and gas treatment installations.

54 
SUSTAINABILITY REPORT 2022 
Milk is the key product of the Cattle Farming segment. The milk is sold in bulk without 
packaging. Manure generated on the cattle farms is applied as fertilizer on the fields in the 
Agricultural segment. The Cattle Farming generates waste from use of veterinary inputs and 
medicines derived from animal healthcare. 
The Company initiated development of automated system for data collection for waste. Thus, 
the data on waste generated, diverted from disposal and directed to disposal will be presented 
after implementation of this system. 
Animal Welfare 
The war, provoked by russia, created unprecedented challenges for Ukrainian farmers and 
animals in the areas directly and indirectly affected by military hostilities. Livestock suffered 
immensely from abuse, injury, or death in such areas. Thus, the issue of animal welfare is one 
of the key concerns in Ukraine. 
Astarta's dairy farms didn't suffer losses but prioritized the importance of humane treatment 
and animal health and welfare. Thus, amidst the occupation of the Northern Ukrainian 
territories, Astarta provided temporary shelter at its dairy farms for more than one thousand 
rescued and relocated cows from the Kharkiv region. 
The Company strongly believes that animals should be treated well; thus, actions to improve 
herd welfare are constantly in focus. In 2022 improvements included: the reconstruction of 
premises for loose keeping equipment for 770 stalls with special comfortable bedding, and 
improved insect management by installing electric insect killers on farms.  
Astarta ensures good animal living conditions in the cowshed and during outdoor grazing. In 
the cowshed cows have thick mattresses, sufficient room to move and walk around, massage 
brushes, constant access to clean drinking water, and balanced and timely feed. At times of 
power outages, generators were installed to meet 
the farm's needs. 
The Company believes that a healthy cow produces 
more milk, of better quality, and for longer. 
Moreover, a healthy and more productive herd helps 
to 
reduce 
environmental 
impact 
by 
lower 
greenhouse gas intensity per litre of milk produced. 
This is why the Company focuses on animal welfare, 
nutrition, health, and productivity. 
Astarta constantly monitors the somatic cell count (SCC) by analyzing milk each time it is 
collected from the farm. An elevated level of somatic cells in milk can indicate inflammation or 
mastitis, which causes pain and stress to the animal and lowers milk quality. At Astarta, the 
somatic cell count in milk is always kept within the range of 200-300k cells/ml, while the state 
standard requires that extra-grade milk has up to 400k somatic cells/ml. Apart from SCC 
control of milk at dairy farms, individual cow monitoring for subclinical mastitis infection is 
carried out twice per month to effectively prevent and control inflammations, thus creating 
more efficient and sustainable dairy systems. 
Astarta regularly adjusts feed mix that enhances balanced nutrition, improve feed conversion 
ratio, and promote animal welfare and health. In 2022, the Company conducted extensive 
research on animal feed to maximize efficiency when calculating rations. Both raw (green 
mass) and finished feed components (haylage, silage) were examined. Based on these

55 
SUSTAINABILITY REPORT 2022 
findings, feed rations at Astarta’s Feed Centre were adjusted to better satisfy animals' needs 
for nutrients and minerals. This allowed for the daily unit milk yield to increase from 22.6 to 
23.6kg. 
The Company's digital automated ProFeed animal feeding system was operational at nine 
farms out of 35, unchanged from the previous year. Due to constant power outages and 
internet disruptions caused by russian missile attacks, the IT team developed offline backup 
version to ensure the integrity of the system. 
In 2022 Astarta continued the implementation of the HACCP (Hazard Analysis and Critical 
Control Points) activities plan at all dairy farms. The Company's livestock personnel seek 
practices that enhance animal well-being and productivity, especially those that reduce stress 
and increase yields. 
In 2022 Astarta's dairy farms were included into the Raw Milk Control Programme run by the 
State Food and Consumer Service within the Quality FOOD Trade Programme framework. Its 
main objective is to increase the added value in domestic trade from the dairy sector for 
sustainable growth in Ukraine. 
Basic animal welfare pillars 
 
Sustainable Procurement 
The Company developed and implemented the Standard on sustainable procurement which is 
a part of the Company’s Integrated Corporate Management system. This standard determines 
ESG evaluation process of suppliers at all stages. Part of the standard is the sustainable 
agreement as an addendum to the main contract with the supplier, as well as sustainability 
questionnaire, which the supplier is required to fill in. The sustainable agreement stipulates key 
requirements in the social and ecological spheres to the suppliers that work with the Company. 
Among these requirements are: 
• Prohibition of child and forced labour; 
• Refuse from any type of discrimination; 
• Freedom of associations 
• Rationale natural resources use

56 
SUSTAINABILITY REPORT 2022 
• Ensure minimisation of use of packaging materials and work towards its recyclability 
• Consider climate change issues in the business  
Also, the employees are required to give feedback about their experience with the suppliers. 
This information is collected, analysed and used by the procurement department to form a 
register of qualified suppliers. 
According to the Standard on sustainable procurement the Company conducts 
permanent monitoring of its suppliers in respect of the following issues: 
Administrative 
Management 
Constant improvement in procurement and supply of products and 
services, development of decision-making procedure on supplier 
relationship. 
 
Human Rights 
The selection process of suppliers includes due diligence on human 
rights. 
Contract 
termination 
with 
supplier 
if 
employees’ 
discrimination is detected. Requiring suppliers to respect political, 
economic, social rights and freedoms as part of the contract. 
 
Personnel 
Management 
Requirement and verification of compliance with appropriate 
working conditions by the supplier, including ongoing performance 
audit by the Company as a customer. Monitoring of social protection 
granted by the supplier for its employees, the level of competence 
and training for employees. 
 
Environment 
Verification and enforcement of contractors with due diligence on 
environmental issues, conservation of natural resources, pursuit of 
activities considering the impact on climate change and prevention 
of these risks, prevention of negative impact on biodiversity and 
waste management. 
 
Transparent Business 
Activities  
Anti-corruption management both within the Company and in 
interactions with suppliers. The Company adheres to the principles 
of fair competition and requires this from its suppliers. 
 
User Compatibility 
The Company adheres to the principles of ethical marketing, the 
duty of honest contractual performance, providing truthful and 
complete information about products and compliance with these 
principles by suppliers. The Company focuses on suppliers who 
provide customer support, guarantee consumer rights protection 
and product safety. The Company records all complaints and 
resolves disputes as per contractual arrangements with suppliers 
 
Compatibility with 
Local Communities 
The Company pursues active policy in local community engagement, 
involving them in educational, scientific development and other 
social programmes. 
 
Contribution to 
Cascading of Taxes 
By extending principles of sustainable procurement to suppliers the 
Company achieves a positive cascading effect within its supply 
chain through cooperation with socially responsible suppliers of 
products and services. 
Total number of engaged suppliers – 16,995, out of which 4,275 were recognised as a winning 
bidder.

57 
SUSTAINABILITY REPORT 2022 
SOCIAL 
Human Capital 
GRI-401; SDG-8 
Astarta believes that people are its most vulnerable and valuable capital. Thus, since the start 
of the full-scale russian invasion of Ukraine safety of the employees and their families became 
the utmost priority for the Company. Office-based personnel worked remotely from home and 
shelters while production-based employees performed their duties when it is safe to do so. 
Many employees had to relocate from homes to other Ukrainian regions, as well as send their 
families abroad. Some workers had been called into the military reserve and their colleagues 
were filling the gaps in the workplace. 
To support its employees the Company introduced special programme covering physical safety 
of employees, financial and psychological support, including for those drafted into the Army 
and their families. More than 300 employees were provided financial and non-financial 
assistance under such programme. 
Despite the war Astarta continued creating conditions, opportunities and incentives through 
different projects to stimulate engagement and professional development of its employees.  
• The Operational Improvement System of Astarta (OISA). This is a management system 
designed for improving business processes and the involvement of each employee in the 
process of continuous improvement. In 2022 1,173 employees participated in the 
programme with 1,158 improvement ideas submitted. The economic benefits from such 
ideas totalled UAH11m in 2022. 
• Successors Development. The programme is aimed at career development and training of 
personnel for key management positions. Potential candidates undergo the training 
programme for 1-3-year before being promoted to key management positions. 
• Staff Reserve. The project aims to identify talented employees with potential leadership 
skills. Having selected such employees, the Company conducts special training to create a 
talent pool for potential senior positions. 
• Think Tank. The project’s goal is to collect ideas on efficiency improvements from the 
company’s employees. This allows to identify creative and motivated individuals who are 
ready to take leadership role in transformation processes within the business and, at the 
same time, stimulate engagement of other employees. 
• School of Internal Experts. The key purpose of the project is to share knowledge and 
successful experience within the Company by providing opportunities for self-realisation of 
employees. 
Employment 
Astarta conducts its business nationwide, thus hiring people in different regions of Ukraine. 
As of the end of 2022 the total number of employees was 6,591, up by 37% y-o-y as the 
Company had to reserve seasonal personnel during the martial law. Correspondingly the share 
of seasonal employees increased from 16% in 2021 to 37% in 2022. The breakdown of 
employees by age remained almost unchanged while the breakdown of employees by gender 
and professional level slightly changed reflecting an increase in seasonal employees.

58 
SUSTAINABILITY REPORT 2022 
 Number of employees as of YE 
2020 
2021 
2022 
  Age   
5 027 
4 820 
6 591 
  up to 30 y.o.   
710 
618 
803 
  
14% 
13% 
12% 
  30-50 y.o.   
2 760 
2 696 
3 711 
  
55% 
56% 
56% 
  over 50 y.o   
1 557 
1 506 
2 077 
  
31% 
31% 
32% 
  Gender   
5 027 
4 820 
6 591 
  male   
3 211 
3 077 
4 495 
  
64% 
64% 
68% 
  female   
1 816 
1 743 
2 096 
  
36% 
36% 
32% 
  Level   
5 027 
4 820 
6 591 
  managers   
667 
641 
664 
  
13% 
13% 
10% 
  specialists   
1 248 
1 272 
1 401 
  
25% 
26% 
21% 
  workers   
2 967 
2 769 
4378 
  
59% 
58% 
66% 
  other employees   
145 
138 
148 
  
3% 
3% 
3% 
  Segment   
5 027 
4 820 
6 591 
  sugar production 
711 
729 
1 453 
  
14% 
15% 
22% 
 agriculture   
2 515 
2 214 
3 103 
  
50% 
46% 
47% 
  soybean processing   
202 
195 
210 
  
4% 
4% 
3% 
  cattle farming 
1 177 
1 191 
1 220 
  
24% 
25% 
19% 
  other    
422 
491 
605 
  
8% 
10% 
9% 
  Type   
5 027 
4 820 
6 591 
  permanent   
4 250 
4 046 
4 163 
  
85% 
84% 
63% 
  seasonal   
777 
774 
2 426 
  
15% 
16% 
37% 
The gender gap is present due to the nature of agricultural operations. 
The level of staff turnover cannot be measured precisely due to the specifics of the business – 
i.e. each business segment has different start and end dates, as well as different use of 
seasonal workforce.

59 
SUSTAINABILITY REPORT 2022 
Benefits Provided to Employees 
The Company adopted a dedicated Social Policy which regulates benefits for the employees. To 
create comfortable working conditions and stimuli a, the Company provides the following 
benefits: 
• Financial incentives. One-time financial assistance, Reimbursable financial assistance 
(loans); 
• Medical insurance and services. Preventative medical examination for the employees 
working under harmful conditions, voluntary medical insurance or wellness 
programmes; measures against COVID-19; 
• Working and living conditions. Assistance in improving housing conditions for the key 
employees, professional development and training; transportation services including 
personal cars for key employees, mobile telephony; 
• Other. Additional paid leave, nomination of the best employees for corporate and state 
awards. 
After the full-scale russian invasion of Ukraine the Company introduced dedicated programmes 
to support employees through difficult times via: 
• assistance in the relocation of employees and their families from the places of active 
military hostilities; 
• financial support for the reconstruction of destroyed/damaged housing; 
• psychological support - online psychological sessions, support groups for wives of 
mobilized employees, network of emergency psychological assistance agents; 
• remote working conditions for the period of martial law; 
• establishing emergency channels of communication with employees (monitoring of 
health and whereabouts of employees); 
• Financial assistance in case of loss of next of kin;  
• Financial assistance to employees who were injured as a result of military hostilities; 
• Financial assistance to the families of deceased employees.  
For employees that were mobilized to the military and territorial defence forces: 
• One-time financial assistance during mobilization; 
• Preservation of wages; 
• Provision of uniforms. 
Parental Leave 
Astarta respects the right of the employees to parental leave which is secured in corresponding 
legislation and internal policies of the Company. In 2022 195 employees were entitled to 
parental leave, out of which female employees – 139, and male employees – 56. Significant 
increase in the number of male employees under parental leave related to changes in the 
Ukrainian legislation which introduced equal gender rights such leave. 137 employees (all 
female) exercised their right of parental leave. 34 employees discontinued parental leave, of 
which 18 returned to work, out of which 16 were female. Return to-work and retention ratios 
were 53% and 82% correspondingly.

60 
SUSTAINABILITY REPORT 2022 
Number of employees 
2020 
2021 
2022 
Right to parental leave 
202 
196 
195 
Female 
200 
194 
139 
Male 
2 
2 
56 
Exercised the right to parental leave, incl. 
202 
165 
137 
Female 
199 
163 
137 
Male 
3 
2 
- 
Discontinued parental leave, incl. 
59 
53 
34 
Female 
58 
53 
32 
Male 
1 
- 
2 
Returned to work 
18 
17 
18 
Female 
17 
17 
16 
Male 
1 
- 
2 
Still employed 12 months after return to 
work 
n/a 
16 
14 
Female 
n/a 
15 
14 
Male 
n/a 
1 
- 
Return to work rate, % 
0 
0 
53% 
Female 
29% 
32% 
50% 
Male 
2% 
- 
100% 
Retention rate, % 
n/a 
89% 
82% 
Female 
n/a 
88% 
82% 
Male 
n/a 
100% 
- 
Minimum Notice Periods Regarding Operational Changes 
GRI-402 
Astarta abides by the requirements of corresponding national legislation in relation to minimum 
notice periods prior to operational changes. 
In case the Company plans operational changes that can impact labour conditions of 
employees, it notifies the affected individuals or their representative two months before the 
planned changes. If an employee works for a subsidiary of the Company which is connected to 
a trade union, the notification is made three months before the planned changes. 
There is also a minimum notice period set by the collective agreements. According to a 
standard agreement the minimum notice period is two months before the planned changes. 
Occupational Health and Safety 
GRI 403, SDG-3 
In 2022 Astarta’s occupational and health safety system faced the unprecedented challenges 
as a result of the military hostilities from by full-scale russian invasion of Ukraine. No 
occupational and health safety system, unfortunately, could fully protect people in the country 
which was attacked by russia.

61 
SUSTAINABILITY REPORT 2022 
One of Astarta’s employee - a civilian tractor driver working in the field - died from being hit by a 
guided missile fired from a russian military aircraft far away from the battlefield. 
Nevertheless, Astarta continued putting best efforts into the area of occupation health and 
safety as a top priority even under the war-related circumstances. 
Prevention of injuries, professional ailments, car accidents, emergency situations, and fatalities 
are all prioritized areas. The Company identifies risks related to the occupational health and 
safety performing an analysis of the technological processes, parameters, and technical 
characteristics of the equipment (substances) used. The Company controls parameters of 
working conditions to prevent near misses, first aid and lost time incidents, professional 
diseases. Under Operational Improvement System of Astarta employees create ideas for 
improving working conditions, among others. In 2022 employees generated 615 health and 
safety-related initiatives. 
During the reporting period the Company worked towards mitigating the impact of hazardous 
factors in the high-risk workplaces in the Sugar segment. To minimize noise and high 
temperature at the certain workplaces, Astarta installed noise-insulation and air conditioning in 
the operator's room. Additionally, ventilation and aspiration equipment were installed for 
cooling and catching air contaminants. 
According to the Ukrainian labour legislation employees involved in high-risk works receive 
additional benefits which are provided by the Company. 
In line with engineering and technical measures to minimize the negative impact of hazards in 
the workplace, Astarta provides employees with high-quality personal protective equipment for 
respiratory, visual, hearing, and skin protection. 
The Company is continuing to implement a 5S system for efficient, effective, and safe work 
performance in sugar production, soybean processing, agriculture and biogas production. This 
system aims organising the workspaces in a way that will provide maximum safety and 
productivity for an employee. 
The Company makes every effort to ensure the safety of contractors performing work. The 
contractors must provide Astarta with work permits, licenses, and other health and safety-
specific documents. The Company decides to engage a contractor based on an assessment. 
The Company allows to perform work only for those contractors that meets the established 
requirements. Its occupational health and safety specialists carry out supervision during the 
contractors' performance. They monitor compliance with laws and other regulations on labour 
protection and conduct health and safety induction training course. 
Astarta constantly conducts training and knowledge testing on health and safety issues under 
the internal Standard “Education and Expertise”. In 2022 4,610 participants (one employee 
can participate in several trainings) took part in the training on health and safety including 
following key topics: fire safety, electrical safety, road traffic safety, hazardous chemicals, 
incidents investigation, first aid, high-risk works, and high-risk equipment operation. 
There are small medical surgeries at some production facilities where employees can get first 
medical aid and some basic health care procedures. 
All Astarta’s key production assets such as sugar plants, soybean crusher and grain silos 
confirmed compliance with requirements of ISO 45001 – the Occupational health and safety 
management systems.

62 
SUSTAINABILITY REPORT 2022 
Work-related injuries data 
  
2019 
2020 
2021 
2022 
Fatal Injury Frequency Rate (FIFR) 
0.1 
0.1 
- 
0.1 
Lost Time Injury Frequency Rate (LTIFR) 
0.4 
0.2 
0.5 
0.9 
Lost Day Rate (LDR) 
 55.3 
6.0 
18.3 
33.5 
Training  
GRI-404; SDG-4 
Management approach to training is based on the internal documents that define common 
rules and requirements. 
Each employee has a right to improve professional skills via training and can apply for such 
under internal procedures. 
The Company identifies the following types and forms of training: long-term and short-term, 
external and internal. 
• Long-term training is provided on the basis of higher education institutions to obtain 
tertiary qualification or in lyceums to master a new trade; 
• Short-term training is targeted at an in-depth study of a particular area of activity, 
including modernization, reorganisation or restructuring of business units, significant 
changes in the regulatory framework governing its activities, training on best available 
technologies; 
• Internal training is conducted by in-house personnel; 
• External training is conducted by third-party service providers. 
Development of corporate skills is carried out through trainings, master classes, seminars, 
conferences, forums, business games, etc. 
After the training the Human Resources Department conducts appraisal of the level of acquired 
knowledge and skills as well as overall quality of the training. 
Astarta focuses on the professional development of its employees and implements various 
projects that help to reveal and realize their potential. To this end, the Company implemented 
different programmes such as: mentoring targeted at building an effective team, programme 
for development of internal mentors, “school of internal experts”. 
In 2022 Astarta launched another course for internal trainers.  30 employees completed the 
course “training for trainers” focused on the implementation of Operational Improvement 
System of Astarta tool – 5S. The focus of such training was to implement lean production 
approaches, creating and maintaining order at production sites and managing stocks at the 
Company's sugar plants and agricultural subsidiaries. As a result, more than 250 employees 
were trained by internal trainers. 
Considering the positive result and feedback on the programme the Company launched 
similar course for local employees in the production assets.

63 
SUSTAINABILITY REPORT 2022 
Annual weighted average number of training hours per employee in 2022 was 6.9 hours, 
including: 
1. By level: 
• managers – 6.0 hours; 
• specialists – 3.8 hours; 
• workers – 10.3 hours. 
2. By gender: 
• male – 8.2 hours; 
• female – 4.8 hours. 
Training included educational courses in the Head Office, subsidiaries, and dedicated 
educational centres. Employees also took part in specialised conferences, forums, trade 
shows. Key training topics included: 
• professional training (training for the new employees, additional training in the 
employee’s specialty); 
• development of personal and managerial skills; 
• occupational health and safety, fire safety etc; 
• environmental issues and product quality. 
Total spending on training was EUR0.1m in 2022 vs EUR0.2m in 2021. 
 
Personnel Assessment 
The Company implemented two types of personnel assessment: annual performance 
assessment and professional assessment. 
Annual performance assessment 
Personnel performance assessment is a set of the appraisal activities which involve all 
employees of the Head Office as well as directors and managers of the subsidiaries. The 
assessment includes four key components: 
 
Performance assessment (KPI) 
Skill level assesment
Development plans
Identification of objectives for the next year

64 
SUSTAINABILITY REPORT 2022 
The assessment is based on annual appraisal of the employee according to previously set KPIs 
and professional skills development. Such assessment is a good stimulus for the employees. It 
allows to focus on efficiency improvement and development of personal professional skills to 
meet the required targets. 
The process of assessment consists of four stages: 
 
Self-assessment 
–
employees 
assess 
individual results for 
the year according 
to 
previously 
set 
KPIs by themselves, 
prepare plan for the 
next year and create 
professional 
development plan 
Assessment 
interviews 
–
managers conduct 
interview with their 
team members to 
assess results for 
the year, level of 
professional 
development, adjust 
the plans for the 
following years 
Assessment 
approval 
– 
the 
results 
of 
the 
assessment 
are 
approved by the 
top managers 
Assessment 
finalisation 
– 
the 
assessment 
results 
and plans for the 
next 
year 
are 
incorporated 
into 
corresponding 
documents 
aligned 
with the company’s 
values and targets 
610 employees from head and regional offices (10% from the average annual number) are to 
take part in the 2022 annual assessment including: 
1. By level: 
• managers – 347 employees;  
• specialists – 263 employees;  
2. By gender: 
• male - 344 employees; 
• female – 266 employees. 
 
Professional assessment 
The Company has implemented a system of annual professional assessment of key employees. 
The purpose of the system is to identify and develop potential of the employees. The 
assessment involves key employees with the highest impact on the business such as 
employees of the Head Office, directors, and managers of the subsidiaries.  
 
 
 
Self-
assessment
Assessment 
interviews 
Assessment 
approval
Assessment 
finalisation

65 
SUSTAINABILITY REPORT 2022 
The process of assessment consists of four stages: 
 
Testing – testing 
to 
assess 
professional 
knowledge. 
It 
consists 
of 
different 
tests 
such 
as 
case 
study 
and 
analytical 
skills 
test 
Assessment 
interviews 
– 
а 
dedicated 
qualification 
commission 
conducts 
interviews 
to 
assess the level of 
professional 
expertise 
in 
performing 
employee duty 
Assessment 
analysis – the sum 
up of the results 
and 
its 
communication to 
the head of the 
function 
Action plan – based 
on the results of the 
assessment 
a 
dedicated 
action 
plan is developed. 
The 
action 
plan 
includes 
management 
decisions 
(i.e. 
transferring 
employees between 
positions) 
and 
professional 
development 
courses 
 
During 2022, 622 (10% from the average annual number) employees involved in crop 
production, engineering, logistics, sugar production, land management, occupational safety 
and ecology were assessed including: 
1. By level: 
• managers – 58 employees or 9% of the average number of managers;  
• specialists – 286 employees or 20% of the average number of specialists;  
• workers – 278 employees or 6% of the average of workers.  
2. By gender: 
• male - 468 employees or 10% of the total number of male employees; 
• female – 154 employees or 7% of the total number of female employees. 
 
Diversity and Equal Opportunities  
GRI-405; SDG-5 
Astarta treats people with dignity and respect, provides necessary conditions and creates 
working environment where human rights are respected. Astarta is not involved in any activities 
that directly or indirectly violate human rights. The Company does not tolerate contempt or 
inappropriate destructive behaviour, revenge, unfair treatment. 
Astarta values diversity of its employees and is committed to providing equal opportunities and 
does not accept any form of discrimination or harassment. The Company does the utmost to 
ensure that its workplaces are free from discrimination or harassment on the grounds of race, 
Testing
Assessment 
interviews 
Assessment 
analysis
Action plan

66 
SUSTAINABILITY REPORT 2022 
gender, skin colour, national, ethnic or social origin, religion, age, special needs, sexual 
orientation, political views or any other status protected by law and internal policies. 
The basis for the selection of candidates for employment, recruitment, employment, training, 
remuneration and career growth in the Company is qualification, skills and experience. 
The Company does not have a formal Diversity Policy. However, in 2007 it has adopted the 
Rules of the Board of Directors, which include the Profile of the Board of Directors, Resignation 
schedule for the members of the Board and other documents regulating the Board’s 
composition, decision-making process, working mode, allocation of powers and general 
functioning. 
The Board of Directors of Astarta consists only of men. Effective corporate governance is very 
much dependent on the skills and experience of members of the Board, Executive and Non-
Executive Directors as members of the Board are selected only based on qualifications, 
abilities (including reputation and integrity) but not gender. When there is a vacancy at the 
Board of Directors, the Company will strive to promote gender diversity by inviting women to 
join the Board of Directors. 
Breakdown of employees by diversity categories: 
1. By gender: 
• male - 68%; 
• female – 32%. 
2. By age: 
• up to 30 y.o. – 12%; 
• 30-50 y.o. – 56%; 
• over 50 y.o. – 32%. 
 
Ratio of basic salary and remuneration of women to men 
 
2020 
2021 
2022 
Total, including: 
97% 
97% 
101% 
managers 
69% 
75% 
76% 
specialists   
109% 
98% 
98% 
workers 
93% 
91% 
98% 
other employees 
76% 
82% 
82%

67 
SUSTAINABILITY REPORT 2022 
Freedom of Association and Collective Bargaining 
GRI-407; SDG-5, SDG-8, SDG-16 
The Company’s approach to the freedom of associations and collective bargaining is based on 
the national legislation. Astarta’s collective agreement clearly states prevention of any direct or 
indirect limitation of any rights, no direct or indirect privileges related to the membership in 
trade unions or any other association of people. The agreement also includes guarantees for 
freedom of association, functioning of primary trade union organisation, civic organisation. In 
addition, the Company is committed to: 
• during non-working hours to provide space for employees for general meetings 
(conferences) of employees including necessary equipment, communications, heating, 
lighting, cleaning, transport, security; 
• provide the trade union committee an opportunity to visit and inspect workplaces; 
• provide the trade union committee an opportunity to access relevant documentation, 
information and explanations concerning the conditions and remuneration, the 
implementation of collective agreements, compliance with labour legislation and socio-
economic rights of workers; 
• provide an opportunity to directly address the employer and top management of the 
Company on the issues that are the subject of the collective agreement; 
• provide an opportunity to inspect the social infrastructure facilities owned by the 
Company; 
• provide the opportunity to publish information by employees in agreed upon places; 
• transfer 0.3% of the payroll to the fund of the primary trade union organisation to 
promote cultural and health-related activities; 
• abstain from actions that can interfere with work of the primary trade union 
organisation. 
In 2022 there were no disputes between the Company and the trade unions. 
As of the end of 2022 99% of Astarta’s employees were part of the collective agreement. 
Human Rights 
GRI-412; SDG-10 
Astarta is guided by an internal Human Rights Policy based on best international practices 
defined in the Global Declaration of Human Rights and UN Global Compact. The policy is 
available and promoted at all production facilities of the Company via information boards and 
HR departments. Top management of the Company is responsible for Policy implementation 
while the CEO is responsible for controlling the implementation.  
Code of Corporate Ethics also defines the basic principles of the Company’s culture: openness, 
tolerance, respect. 
Astarta respects human rights and does not discriminate on political, religious, ethnical, 
gender, sexual or other grounds. The Company provides equal opportunities in employment, 
professional and personal growth to all employees.

68 
SUSTAINABILITY REPORT 2022 
The Company guarantees safety at workplace. There is a Corporate Integrated Management 
System in place, the mandatory component of which is employee’s health and occupational 
safety. All production facilities were assessed internally for occupational health and safety 
risks. 
The Ukrainian law prohibits the use of child and forced labour. No person under the age of 18 
works at the production facilities and there were no cases of forced labour at Astarta. The 
Company treats these issues as a matter of principle and strictly adheres to the rule of the law. 
When making economic decisions, the Company always considers and assesses potential risks 
to human rights. Potential cases of human rights violations can be reported to the local 
management team via a dedicated hotline. The procedure for handling complaints and appeals 
is described in the Stakeholder Engagement Plan. 
Astarta performs a regular internal audit to verify compliance with the Human Rights Policy. All 
of the Companies subsidiaries are covered by the audits. The internal audit confirmed that 
there were no violations of human rights at the Company’s business units in 2022. 
The policy is also shared by contractors and subcontractors, who work with the Company. 
Monitoring of potential use of forced and child labour is also included into the Sustainable 
Development Questionnaire for suppliers, which is filled out by them and submitted as part of 
procurement tenders by Astarta. 
As a result of full scale russian invasion of Ukraine, many people faced violence and abuse by 
the russian military. Many Ukrainians were forced to leave their homes and to move to other 
regions of the country as internally displaced persons (IDP). 
In 2022, to help IDP, Astarta launched the project on protection of the rights and interests of 
Ukrainian citizens during the martial law. The project consisted of dedicated training in 3 
regions of Ukraine involving 90 people. The participants obtained information about state 
guarantees on rights, freedoms and legitimate interests of IDP and local communities acting as 
a host for IDP under the martial law. The training also included information on actions in case 
of sexual and physical violence and destroyed or damaged housing. 
Certification and Sustainable Products and Services 
GRI-416; SDG-12, SDG-16 
Astarta aims to run its production in the most efficient way in terms of economic-soundness 
and sustainability which implies earning profits while minimizing negative environmental 
impact, conserving natural resources and developing communities as well as ensuring high 
product quality and safety. 
In 2022 the Company’s crop growing subsidiary List-Ruchky reconfirmed the status of an 
organic producer and successfully passed the certification of land and warehouses by the 
Organic Standard, BioSuisse, Danube Soya, and Europe Soya. Certification allows the Company 
to sell its organic products to the European Union. In the reporting period Astarta allocated 
1.8kha for organic farming and produced more almost 4kt of organic wheat, corn, soybeans 
and other crops. Astarta also uses some organic fertilisers instead of synthetic. In 2022 
organic fertilisers were used on the area of 7kha. 
The Company’s proprietary IT software AgriChain together with other digital solutions allow 
improving operational processes and add to the overall efficiency of the business in terms of

69 
SUSTAINABILITY REPORT 2022 
economic return and sustainability. These solutions include farmland management, field 
operations, storage, purchase and supply processes, crop monitoring, agrochemical field 
profile, meteorological data and plant vegetation status. As a result, Astarta improves 
productivity while reducing use of inputs such as fertilizers, seeds, fuel etc. 
The Company continued to follow a set of recommendations on regenerative practices 
developed in cooperation with Syngenta LLC (Ukraine). To measure the impact from change in 
farming practices Astarta developed a Baseline report for 2020 and monitors the carbon 
sequestration results on an annual basis through the Cool Farm Tool. 
Astarta plans to scale up different elements of carbon farming, for example reduced tillage, 
cover crops, nitrification inhibitors, organic fertilisers. In 2022 the Company performed reduced 
tillage on 106kha and cover crops, nitrification inhibitors, organic fertilisers on 11kha. 
Within the regenerative farming framework, the Company also entered into the project with 
Agreena - a soil carbon platform for farmers aimed at scaling regenerative agriculture practices 
through finance and technology. The project aims to conduct assessment, monitoring and 
verification of greenhouse gas emission reductions resulting from change in farming practices 
on the assigned land area. Generation of Voluntary Carbon Credits for sale is also part of the 
project design. 
In Sugar Production and Soybean Processing Astarta uses biogas from an inhouse biogas 
facility to replace natural gas consumption. This biogas facility uses sugar beet pulp, a residue 
from sugar production, as a primary input. Therefore, use of biogas not only adds to the 
sustainability aspect to the business but reduces costs amid high energy prices. 
One of the key sustainability elements of the Company’s business is the quality of its products 
which correspond to international standards. Astarta’s key production assets are certified in 
accordance with FSSC, ISO 22000, GMP+, ISCC and HACCP standards. To ensure high quality 
and safety of products, the Company constantly controls raw materials and other inputs. The 
main criteria for quality and safety of raw materials are defined by national and international 
regulatory and technological documents (TU, DSTU, Council of Europe Directives, etc.), and 
include GMO content, microbiological indicators, pesticides, radionuclides, among others. 
In 2022 Astarta’s soybean processing plant received the ISCC EU certification indicating 
sustainable nature of the products and allowing the Company to attract new clients. 
Astarta puts special emphasis on the quality and safety of its milk production. The quality is 
determined by fat, protein and water content, as well as density and freezing point. Food safety 
control includes an assessment of antibiotics’ use, cow health, the quality and safety of the 
feed, the sanitary and hygienic requirements and the temperature of the milk cooler tanks. 
To strengthen the food safety system, the Company also monitors risks related to malicious 
spoilage of food products and vulnerabilities to falsified food. 
In 2022 there were no cases of non-compliance with regulations on health and safety of 
products identified.

70 
SUSTAINABILITY REPORT 2022 
Completed audits 
Facility  
ISO 
9001 
ISO/FSSC 
22000 
ISO 
14001 
ISO 
45001 
ISO 
50001 
GMP+ 
ISSC 
Organic 
certificati
on 
Narkevytsky sugar 
plant 
 
 
 
 
----- 
----- 
----- 
----- 
Zhdanivsky sugar 
plant 
 
 
 
 
----- 
----- 
 
----- 
Yareskivsky sugar 
plant 
 
 
 
 
 
----- 
 
 
----- 
Globynsky sugar 
plant 
 
 
 
 
 
----- 
----- 
----- 
Novoorzhytsky 
sugar plant 
 
 
 
 
 
----- 
----- 
----- 
Globynsky 
processing plant 
 
 
 
 
 
 
 
----- 
Viytovetsky grain 
silo 
 
 
 
 
----- 
----- 
----- 
----- 
Khmilnytsky grain 
silo 
 
 
 
 
----- 
----- 
----- 
----- 
Krasylivsky grain 
silo 
 
 
 
 
----- 
----- 
----- 
----- 
Lutovynisky grain 
silo 
 
 
 
 
----- 
----- 
----- 
----- 
Semenivsky grain 
silo 
 
 
 
 
----- 
----- 
----- 
----- 
Skorokhodivsky 
grain silo 
 
 
 
 
----- 
----- 
----- 
----- 
Yareskivsky grain 
silo 
 
 
 
 
----- 
----- 
----- 
----- 
Agriculture firm 
named after 
Dovzhenka 
----- 
----- 
----- 
----- 
----- 
----- 
 
----- 
LLC “Khmilnitsky” 
----- 
----- 
----- 
----- 
----- 
----- 
 
----- 
LLC “Lysk-Ruchky” 
----- 
----- 
----- 
----- 
----- 
----- 
-----

71 
SUSTAINABILITY REPORT 2022 
Local Communities 
GRI-413; SDG-12, SDG-16 
Since its foundation, Astarta has been following international standards and norms of 
corporate social responsibility and sustainable development. Creating positive changes in 
society is also a challenge for the Company’s business as its growth is interconnected with the 
development of the related communities. Astarta maintains relationships of mutual respect, 
responsibility and cooperation in all areas where it operates. The Company’s partnership with 
the communities engages workers, promotes environmental protection and maintains 
sustainable supply chains. 
Astarta proactively interacts with local communities through dedicated engagement plans to 
maximize involvement and create productive partnerships. 
At the management level, the responsibility for engagement of local communities is assigned to 
the Director of HR, while Corporate Partnership and Communications Department is 
responsible for coordination. In the regions of operations the responsibility for interaction with 
local communities is assigned to the directors of regional production sites and relevant 
employees. 
Astarta also has a grievance mechanism for handling complaints and appeals received from 
local communities. Information on the exact procedure is published on the Company's website 
and displayed on the information stands at production sites. 
If there is a new development project/extension or reconstruction of existing facilities Astarta 
conducts an assessment of potential environmental and socio-economic impact on local 
communities which is required by national legislation and at request of international 
development institutions. 
On a permanent basis the Company also identifies priority areas for local development and 
sponsors relevant programmes through a dedicated advisory council. 
Key development programmes. 
My Future in Agro. 
Astarta started the programme in 2018 to introduce students 
to modern agriculture and related professions. Currently 26 
schools from different Ukrainian regions take part in the 
programme. 
The programme includes training courses which consist of 
theoretical and practical parts. 
The participating schools have dedicated greenhouses, 
where 
students 
grow 
plants 
independently, 
explore 
application of plant protective agents, perform experiments 
and write research.  
Key results of the programme: 
• 1,130 students completed training;  
• 51 students took part in a scientific contest;  
• 48 projects were created.

72 
SUSTAINABILITY REPORT 2022 
IT Education 
In 2017 Astarta, in partnership with BrainBasket Foundation and Miratex company, initiated an 
ambitious educational programme “IT Education in Rural Areas” to promote IT skills to children 
and adults. The programme has become a unique opportunity for free learning in rural areas. 
The adult course is designed for people over the age of 40 and is aimed at developing basic IT 
skills. 
The course for children is designed for students aged 9 to 15 years. It is based on visual 
programming language SCRATCH (developed by the Massachusetts Institute of Technology). 
Key results of the programme 
• 1,473 children completed training in SCRATCH and ROBOTOTECH; 
• 703 adults completed training on basic IT skills; 
• 400 children took part in IT contests; 
• 55 IT projects were created. 
Wings 
The project started in 2020 with joint efforts from 
Pact Ukraine, Light of Hope, Astarta and the 
Government of Canada. It is directed at women to 
stimulate their professional development and 
promote welfare. 
Key results of the programme 
• 700 women took part; 
• 5 local communities involved;  
• 60 ideas supported. 
Course set for independence 
In 2022 Astarta under the support of German 
Development Bank DEG (KFW Group) and in 
partnership 
with 
Charitable 
Foundation 
“Believe in Yourself”, Charitable Foundation 
“Light 
of 
Hope” 
and 
Local 
Economic 
Development 
Agency 
(LEDA) 
started 
a 
programme to support internally displaced 
persons (IDP). Its goal to provide communities 
which hosted IDP with food by encouraging 
local people to create small-scale production.  
Key results of the programme: 
• 220 participants took part; 
• six regions of Ukraine; 
• 93 participants developed and submitted business plans; 
• 60 received grants to develop their own production.

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SUSTAINABILITY REPORT 2022 
The Braves 
In 2022 Astarta under the support of Raiffeisen 
Bank (Ukraine) and in partnership with Charitable 
Foundation 
“Believe 
in 
Yourself”, 
Charitable 
Foundation “Light of Hope” started a project to 
support development of local small-scale business. 
It aims at e xpanding existing business and creating 
the new one related to production of canned food to 
support IDP.  
Key results of the project: 
• 66 participants took part; 
• 37 participants developed and submitted business plans; 
• 25 received grants to develop start and expand business.  
Common Help UA  
In March 2022, Charitable Foundation “Believe in Yourself” and Astarta co-founded a 
humanitarian project called Common Help UA 
aiming at helping Ukrainians who suffered from 
the military aggression. The project involved 
different Ukrainian and foreign donor partners. 
As a result, by the end of 2022 more 28kt of 
humanitarian supplies (food, medicine, personal 
hygiene products, clothing) were delivered, the 
estimated 
monetary 
value 
of 
charitable 
contributions and humanitarian aid totalled USD18m, over 716k evacuated civilians and 407 
social and medical institutions received humanitarian aid.

74 
SUSTAINABILITY REPORT 2022 
GOVERNANCE 
Board Management Structure 
The Company has a one-tier system of management that means that managing and 
supervisory duties are joined in the Board of Directors. Appointment and/or dismissal and/or 
suspension of the members of the Board of Directors is the prerogative power of the General 
Meeting of Shareholders. The General Meeting of Shareholders is authorized to determine the 
number of Directors.  
The Board of Directors of the Company consists of six members: three Executive Directors and 
three Non-Executive Directors.  
Executive Directors perform management duties, and they are responsible for operational 
activity of the Company when the Non-Executive Directors have the supervisory obligations and 
shall bring specific expertise, constructive challenge on activity of Executive Directors and 
strategic guidance. Besides that, two Non-Executive Directors – Mr. Dahl and Mr. Mettetal, are 
independent from the Company, shareholders of the Company and the other Directors within 
the meaning of Annex II of the European Commission Recommendation No. 2005/162/WE of 
15 February 2005 
One of the Directors of the Board acts as a Chairman of the Board and is responsible for the 
proper and efficient functioning of the Board, determines the agenda for the Board of 
Directors’ meetings, chairs the meetings and monitors the proper functioning of the Board of 
Directors and its committees. 
The Board of Directors is assisted by the corporate secretary responsible for ensuring that 
accurate and sufficient documentation exists to meet legal requirements, and to enable 
authorized persons to determine when, how, and by whom the business of the Board of 
Directors was conducted. 
Astarta promotes a balanced composition of the Board. The Company makes every effort for 
Board members to be selected exclusively based on their qualification and abilities (including 
reputation and integrity), regardless of age, gender, or any other personal characteristics. 
Currently Astarta has a one-tier Board consisting of male members only. When the Company 
has a vacancy at the Board, it will endeavour to engage female professionals to join the Board 
to promote gender diversity. 
Composition of the Board of Directors 
Age strucutre 
Nationalities 
 
 
< 50 y.o.; 1
51-60 y.o.; 1
61-70 y.o.; 3
> 70 y.o.; 1
Ukrainian; 2
Cyprus; 1
French; 1
Canadian; 1
US; 1

75 
SUSTAINABILITY REPORT 2022 
Profile of the Directors of the Board 
 
VIKTOR IVANCHYK (born in 1956) 
Executive Director, Chief Executive Officer, Ukrainian national 
Mr. Viktor Ivanchyk serves as an Executive Director with the Company and as the Chief 
Executive Officer since the Company’s incorporation. 
Prior to founding Astarta-Kyiv in 1993, he worked for the Kyiv Aviation Industrial Association 
(KiAPO) and then served at the State service. In 1993 he founded Astarta-Kyiv, which he has 
been the General Director of since then. 
In 2005 he became a Deputy Chairman of the Counsel of the National Association of Sugar 
Producers of Ukraine "Ukrsugar" and, in 2007, a member of the Presidium of Ukrainian 
Agrarian Confederation. 
He graduated from the Kharkiv Aviation Institute named after N. E. Zhukovsky (1979) and from 
the French Business School in Toulouse (1994). In 2007 he completed a Senior Executive MBA 
Programme from the International Management Institute (IMI Kyiv). 
Shares owned in the Company (as at 31 December 2022): 5,000,000 (20.00%) (Ivanchyk 
Family: 10,000,000 (40.00%)) shares in the Company held through a Cypriot holding company 
named Albacon Ventures Ltd 
 
HOWARD DAHL (born in 1949) 
Non-Executive Director, Chairman of the Board of Directors, Independent Director, US 
citizen 
Mr. Howard Dahl was appointed as a Non-Executive Director with the Company and the 
Chairman of the Board of Directors on 17 March 2017.  
From 1987 till 2016 Mr. Howard Dahl was the member of Board for several organizations, 
such as, North Dakota Council for the Arts, University of North Dakota Foundation, North 
Dakota Trade Office, Federal Reserve Bank of Minneapolis, Trinity International University. At 
present time Mr. Howard Dahl serves the positions in the Amity Technology LLC, Ethics and 
Public Policy Center and, The Trinity Forum, Washington DC, Stoneridge Software, LongWater 
Opportunities, and the Center for Innovation Foundation (University of North Dakota).   
Mr. Howard Dahl graduated from the University of North Dakota B.S., University of Florida and 
Trinity Evangelical Divinity School M.A. 
Shares owned in the Company (as at 31 December 2022): 6,717 (0.03%). 
 
VIKTOR GLADKY (born in 1963) 
Executive Director, Chief Financial Officer, Ukrainian national 
Mr. Viktor Gladky joined Astarta in 2012 and has been serving as an Executive Director with 
the Company since 2014.

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SUSTAINABILITY REPORT 2022 
Prior to joining Astarta, Mr. Gladky worked at the National Bank of Ukraine (NBU) and was the 
Member of the Board of several state and commercial banks, including the State Export-Import 
Bank of Ukraine and Citi (Ukraine). 
In 1985 Viktor Gladky graduated from the Kyiv State Shevchenko University with a degree in 
international economics. 
Shares owned in the Company (as of 31 December 2022):  13,109 (0.05%). 
 
SAVVAS SOTIRI PERIKLEOUS (born in 1960)  
Executive Director, Cyprus national  
Savvas Sotiri Perikleous has served as Executive Director with the Company since October 
2022.  
Mr. Perikleous previously held the position of Head Representative Office at Hellenic Bank in 
Kyiv. 
Additionally, he has many years of experience in banking, having spent the previous 35 years 
at Hellenic Bank in Cyprus, where he was instrumental in handling large international corporate 
accounts. At the same time, Mr Perikleous played a key role in the bank’s International 
Business Centre by being head of the Accounts Department, Swift Payment and Incoming 
Payment Departments, and Operation Manager. 
Shares owned in the Company: 0 
 
GILLES METTETAL (born in 1961) 
Non-Executive Director, Independent Director, French national 
Mr. Gilles Mettetal has more than 30 years of international experience in financing agriculture, 
agribusiness and real estate corporate sectors. He has led and managed more than 600 
transactions with EUR7bn of financing, and conducted key transactions with corporates, banks, 
investment funds and government and public institutions in over 40 countries. 
Until June 2017 Mr. Mettetal was Director of the Agribusiness and Property and Tourism teams 
at the European Bank for Reconstruction and Development and also the Managing Director 
(interim) for the Corporate Sector. He has held various positions as a non-executive director 
both for multinational and local enterprises, such as Danone Industrial, Lu Polska, Kraft 
Bolchevik, Bonduelle Kuban, Agrokor and Axereal PEC. Today, he is also a member of the 
Supervisory Board of Nibulon and Chairman of the Investment Committee of Diligent Capital 
Partners. He also serves as a senior agribusiness expert for the United Nations Food and 
Agriculture Organization, the African and the Asian Development Banks. He has knowledge of 
English, French and Spanish languages. 
In 1983, Gilles Mettetal graduated from the Ecole Nationale Supérieure Agronomique de 
Montpellier: Diplôme d'Ingénieur Agronome. 
Shares owned in the Company: 0.

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SUSTAINABILITY REPORT 2022 
MARKIYAN MARKEVYCH (born in 1986)  
Non-Executive Director, Canadian citizen 
Markiyan Markevych has served as Executive Director of the Company since October 2022. 
Mr. Markevych was appointed after resignation of Mr. Huseyin Arslan, a Non-Executive Director 
of the Board. On October 26, 2022, Mr. Arslan notified the Company of his intention to retire 
from the Company's Board of Directors for personal reasons, effective as of October 26, 2022. 
Mr. Huseyin Arslan did not advise the Company of any disagreement with the Company on any 
matter relating to its operations, policies or practices. 
Mr. Markevych is a Principal and President of Crossways MK Consulting, a full-service 
investment consulting company focused on Eastern Europe, which since 2014 has been 
responsible for M&A, along with direct investment in Ukraine for more than USD400m in 
transaction value in various sectors. 
Before that, Markiyan spent extensive time in the Structured Finance area with the Bank of 
Montreal. Markiyan holds an MBA from Queens University and a Master of International 
Relations from the Ivan Franko National University of Lviv.  
Shares owned in the Company: 0. 
Board Committees  
The Board of Directors formed three committees to aid compliance with applicable corporate 
governance requirements with a view to financial transparency: the Audit committee, the 
Remuneration committee and the Sustainability and Corporate Responsibility Committee. The 
powers and responsibilities of each Committee shall be established in corresponding 
Regulations that are currently in the process of adaptation in accordance with the laws of 
Cyprus after a cross-border migration from Netherlands to the Republic of Cyprus and will be 
available on the Company website (www.astartaholding.com). 
The Audit Committee is responsible for reviewing annually and reassessing the adequacy of the 
rules governing the committee as established by the Board of Directors. The Audit Committee 
is charged with advising on and monitoring the activities of the Board of Directors with respect 
to inter alia, the integrity of the financial statements, the financing and finance related 
strategies and tax planning. In accordance with the restated Regulation on the Audit 
Committee, it will also be authorized to consider the material climate risks. The Regulation on 
the Audit Committee is in the process of adaptation in accordance with the laws of Cyprus after 
a cross-border migration from Netherlands to the Republic of Cyprus and will be available on 
the Company website (www.astartaholding.com). The Audit Committee consists of three 
members. The majority are independent directors.  
The Remuneration Committee proposes to the Board, and the Board submits to the General 
Meeting’s approval, the remuneration policies for Executive Directors and other Directors and 
the individual remuneration package of each Director. The Regulation on the Remuneration 
Committee is in the process of adaptation in accordance with the laws of Cyprus after a cross-
border migration from Netherlands to the Republic of Cyprus and will be available on the 
Company website (www.astartaholding.com). The Remuneration Committee consists of two 
members who are independent directors.  
The Sustainability and Corporate Responsibility Committee assists the Board of Directors in 
fulfilling its responsibility for oversight of relevant sustainability and corporate social

78 
SUSTAINABILITY REPORT 2022 
responsibility policies, strategies and programmes of the Company. The Regulation on the 
Sustainability and Corporate Responsibility Committee is in the process of adaptation in 
accordance with the laws of Cyprus after a cross-border migration from Netherlands to the 
Republic of Cyprus and will be available on the Company website (www.astartaholding.com). 
The restated Regulation will authorize the Sustainability and Corporate Responsibility 
Committee to report to the Board of Directors regarding the climate strategy, monitor the 
climate related KPIs’ and targets, among others. The Sustainability and Corporate 
Responsibility Committee consists of three members. The majority are independent directors. 
Business Ethics 
Business ethics is a set of principles and moral standards that guides the Company while 
interacting with its stakeholders. Through its history Astarta developed own values which lay 
behind its success providing benefits to the Company’s internal and external stakeholders. 
The corporate values of the Company are presented on the Company’s website and in the Code 
of Conduct that is currently in the process of adaptation in accordance with the laws of Cyprus 
after the migration and will be available on the Company website (www.astartaholding.com). 
Among them are as follows: impeccable business reputation, social responsibility, respect for 
partners, high quality of goods and services, conscientious performance of official duties, 
respect for colleagues and management team of the Company. 
Key Company’s values are delivered by the management through open communication with 
employees on regular basis, day-to-day work, and personal behaviour. Management is open to 
ideas from the employees and takes them on board on regular basis. Any documents related to 
Company’s values are usually reviewed and approved by the Compliance Committee. 
Below are the ways how the corporate values are incorporated into the Company’s business 
practices. 
a) Impeccable business reputation 
Each team member performs daily tasks while taking care of impeccable business reputation 
of the Company. The Company prevents any violations of the law by its team members and 
partners, defends the principles of justice and integrity. 
b) Social responsibility 
The Company bears responsibility for the quality of goods and production processes at all of its 
affiliated enterprises towards consumers, employees and partners. The Company performs an 
active role in the society by harmonious coexistence, interaction and ongoing dialogue within 
society, participation in resolving acute social issues. By setting social responsibility goals the 
Company promotes sustainable development, including health and well-being of society, and 
considers expectations of all parties concerned. The social responsibility value is integrated 
into the activities of all structural subdivisions of the Company. 
c) Respect for partners 
When building cooperation, the Company considers not only its own interests, but also the 
interests of its partners, strives for cooperation on mutually beneficial terms and makes every 
effort to protect the rights and interests of third parties when implementing the Company's 
business strategy. The Company gains loyalty and trust of the partners by doing business fairly 
and with high integrity.

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SUSTAINABILITY REPORT 2022 
d) Quality of goods and services 
The Company is constantly working on important innovations, tailored solutions, and 
implementation of industry-wide quality and compliance systems to constantly upgrade quality 
of its goods and services. Certification of manufacturing processes and of its highly qualified 
specialists is the Company's standard practice. 
e) Conscientious performance of official duties 
The Company supports responsible work of each employee. Correcting mistakes and learning, 
constantly improving, and performing better are the principles of each employee and the 
Company itself. 
f) Respect for colleagues and management team of the Company 
The Company promotes friendly working environment based on respect for each individual and 
creating possibilities for professional development. All employees and management of the 
Company focus on working together towards common results. 
Key Company’s values are delivered by the management through open communication with 
employees on a regular basis, day-to-day work, and personal behaviour. Management is open 
to ideas from the employees and takes them on board on a regular basis. 
Anti-corruption 
Compliance with relevant anti-corruption laws are important elements of the Company’s 
business activity. 
In dealing with customers and suppliers, including the government bodies, the Company 
expects its management staff and employees neither to give, nor to receive bribes or anything 
of value to obtain any business or financial benefits. The employees of the Company are 
informed that any demand for or offer of such bribe or anything of value must be immediately 
rejected. The Company is currently working on the Anti-corruption Policy that will be placed on 
the Company’s website. 
Accepting and granting business reasonable gifts and business hospitality is not forbidden in 
the Company subject to compliance with the applicable anti-corruption law. The Regulation on 
Business Gifts and Hospitality is presented on the Company’s website. 
The Company is not engaged in politics or makes payments to political parties or to the 
funds/entities that promote any party’s political interests. 
When dealing with the government or state agencies the Company is encouraged to promote 
and defend its legitimate commercial objectives through industry associations in which it 
participates. 
The Company promptly responds to requests from the government and other agencies for 
legitimate and relevant information, observations, or opinions on issues relevant to its 
business and to invitations to participate in the development of the proposed legislation in 
areas that may have an effect on its commercial interests. 
As a preventive and precautionary measure, the compliance officer and the security 
department perform explanatory work with employees regarding the relevant anti-corruption 
laws and internal regulations. Any person may report of any known or suspected violation either 
personally to the compliance officer, or unanimously through the Whistleblowing line.

80 
SUSTAINABILITY REPORT 2022 
The Whistleblowing line is an effective mechanism of tracking information regarding existing or 
potential violations, including anti-corruption ones, within the Company. All potential business 
counterparties are also subject to security checks for compliance with anti-corruption laws. 
The Company does not participate in charitable and sponsorship projects with the direct or 
indirect purpose to influence decisions of government bodies or similar related parties, that 
eventually may influence its business activity. Information on all expenses of the Company in 
relation to charitable and sponsorship activity is publicly available. 
For more information on Corporate Governance please refer to the Company’s Annual Report 
2022. 
 
Shareholders and Share Price Performance 
Astarta is a public company with shares listed on the main market of the Warsaw Stock 
Exchange since 2006. The Сompany is part of WIG, WIG140, sWIG80 and WIG–Ukraine 
indices. As of December 31, 2022, the issued capital of ASTARTA HOLDING PLC consisted of 
25,000,000 ordinary shares with equal voting rights (December 31, 2021 - same). 
During 2022 the Сompany completed migration from the Netherlands to the Republic of 
Cyprus, and since September 16, 2022, Astarta is incorporated in Cyprus, with the registered 
office in Nicosia, Lampousas Str., 1. ASTARTA HOLDING PLC shares remained listed on the 
Warsaw Stock Exchange and are registered in the securities deposit under the same ISIN code 
NL0000686509 and ticker AST. 
As of the end of 2022, there were two major shareholders: the family of Mr.Viktor Ivanchyk (the 
Founder and CEO), who owned 40.0% or 10,000,000 of total voting shares outstanding 
through Albacon Ventures Limited, and Fairfax Financial Holdings Ltd which owned 29.9% or 
7,477,676 voting shares through its subsidiaries. The rest of Astarta’s shares are in free float 
owned by US and EU financial institutions, save for three per cent held as treasury shares. 
Shareholder structure at 31 December, 2022 
(25,000,000 shares) 
 
*Treasury shares – shares held by ASTARTA HOLDING PLC, repurchased via buy-back programme 
Source: Сompany’s data

81 
SUSTAINABILITY REPORT 2022 
In June 2022 the Annual General Meeting of shareholders resolved not to distribute dividends 
for the 2021 financial year, since the primary focus for the Сompany was supporting the 
resilience of the business under the war conditions and continuity of the operational 
processes. 
Global stock markets sustained significant losses during 2022 amid the russian invasion of 
Ukraine, growing risk of inflation and tightening monetary policy. Astarta’s share price was 
deeply affected by increased volatility and military hostilities overwhelming the economy and 
Ukrainian listed companies. In January 2022 the news of possible invasion put pressure on the 
share price and, after the start of war, it reached its annual low of PLN14.2. The average share 
price plunged by 54% y-o-y in Polish Zloty to PLN24.5 during the reporting period. Astarta daily 
trading volume climbed to nearly 0.4m trades on February 24, 2022, on the day of full-scale 
invasion. Trading volumes soared to new record highs in March, reaching 3.4m trades monthly. 
Over time, when the military situation on the ground improved and the Ukrainian army 
conducted successful counteroffensives and liberated some occupied territories the share 
price started to recover. 
Seaborne grain exports which restarted in August 2022 had a positive impact on shares of the 
Ukrainian listed companies, since the deal had a potential to increase agricultural producers’ 
monthly grain exports. However, numerous execution risks and Russia’s attempts to disrupt the 
Grain Deal continue to weigh on the stocks’ volatility. 
Key figures for the ASTARTA HOLDING PLC shares: 
Data/Year 
2018 
2019 
2020 
2021 
2022 
Opening price (PLN per share) 
52 
24 
16 
29 
42 
Highest trading price (PLN per share) 
58 
33 
27 
57 
43 
Lowest trading price (PLN per share) 
23 
15 
10 
28 
14 
Closing price (PLN per share) 
23 
16 
26 
42 
20 
Closing price (EUR per share) 
5 
4 
6 
9 
4 
Market 
capitalisation 
as 
of 
31 
December (PLNk) 
575 000 
400 000 
655 000 1 060 000 510 000 
Market 
capitalisation 
as 
of 
31 
December (EURk) 
133 721 
94 025 
143 121 
230 963 108 993 
Dividend* (EUR per share) 
nil 
nil 
nil 
0.5 
nil 
Dividend yield (%) 
nil 
nil 
nil 
4.3 
nil 
*Dividends were first distributed in 2021

82 
SUSTAINABILITY REPORT 2022 
GRI CONTENT INDEX 
GRI 
Standard  
 Disclosure  
 Description/reference  
 102-1  
Name of the organisation  
ASTARTA HOLDING PLC 
 102-2  
Activities, brands, products, and services  
Astarta is one of the largest Ukrainian agriproducers by land bank and production. 
Key activities of the organisation include: agriculture, sugar and soybeans 
processing, cattle farming, storage and handling, transport logistics  
Please also refer to the section Business Model and Value Creation on the page 7-8 
 102-3  
Location of headquarters  
Registered 
office: 
Lampousas, 
1, 
1095, 
Nicosia, 
Cyprus. 
Organisation’s 
administrative centre: str. Yaroslavska 58, Kyiv, Ukraine, 04070  
 102-4  
Location of operations  
Astarta operates in Ukraine  
 102-5  
Ownership and legal form  
ASTARTA HOLDING PLC is a public limited company. Please also refer to the section 
Shareholders and Share Price Performance on the page 80 
 102-6  
Markets served  
The Company’s production assets are located in Ukraine. Markets served: sugar and 
sugar by-products, grains and oilseeds, soybean crushing products, cattle farming; 
grains and oilseeds storage services. Products are offered locally and internationally 
to industrial food processing companies, traders, individual consumers, etc 
Please also refer to the section Business Model and Value Creation on the page 8-9 
 102-7  
Scale of the organisation  
Please refer to the section Business Model and Value Creation on the page 8-9, 
section Employment on the page 57-58, section Shareholders and Share Price 
Performance on the page 80 
 102-8  
Information 
on 
employees 
and 
other 
workers  
Please refer to the section Human Capital on the page 57

83 
SUSTAINABILITY REPORT 2022 
 102-9  
Supply chain  
Th Company deals with different types of suppliers. Inputs suppliers (fertilisers, 
means of plant protections seeds, fuel), Independent farmers which are suppliers of 
grains, oilseeds and sugar beet, Suppliers of services such as transportation 
services. 
Please refer to the page to the section Business Model and Value Creation on the 
page 8-9 
 102-10  
Significant changes to the organisation and 
its supply chain  
On 06 April 2022 the Board of Directors of Astarta Holding N.V. adopted a resolution 
on the approval of the proposal of the Board to convert Astarta Holding N.V., a 
limited liability company (naamloze vennootschap) governed by Dutch law, into 
ASTARTA HOLDING PLC, a public limited liability company governed by Cyprus law, 
i.e. by way of a cross-border migration of the registered office of the Company 
without its dissolution or liquidation followed by its subsequent reregistration in 
accordance with Cyprus law.  
Please also refer to the section Note Basis Of Preparation on the page 138 of the 
Annual Report 2022 published on Astarta’s website www.astartaholding.com 
 102-11  
Precautionary Principle or approach  
Ukrainian legislation provides for the need for environmental impact assessment 
(EIA) in the process of construction, reconstruction, or expansion of production 
assets. This procedure identifies risks and impacts on the environment and the 
social sphere. A mandatory component of the EIA is to hold public hearings. 
Astarta implemented a number of internal corporate standards in order to assess 
the related risks. 
 102-12  
 External initiatives  
Astarta endorses the following initiatives:  
• UN Global Compact; 
• A Statement from Business Leaders for Renewed Global Cooperation; 
• WBCSD and Human Rights. CEO Guide to Human Rights; 
• Carbon Disclosure Project (CDP); 
• Task Force on Climate-Related Financial Disclosures (TCFD); 
• Global Reporting Initiative (GRI).

84 
SUSTAINABILITY REPORT 2022 
 102-13  
 Membership in associations  
Astarta is actively involved in business life and is an active member of the following 
organisations: 
1. Ukrsugar - National Association of Sugar Producers of Ukraine 
2. Ukrainian Agrarian Confederation (UAC) 
3. The Federation of Employers of Ukraine (FEU) 
4. European Business Association (incl. Grain and Oilseed Committee) 
5. Ukrainian Agribusiness Club (UCAB)  
6. American Chamber of Commerce (ACC) 
7. Donau Soja 
8. International Chamber of Commerce (ICC Ukraine) 
 102-14  
Statement from senior decision-maker 
Please refer the section Chairman’s Statement on the page 3 
 102-16  
Values, principles, standards, and norms of 
behaviour 
Please refer the section Business Ethics on the page 78 
 102-18  
Governance structure  
Please refer to the section Governance on the pages 74-77 of the report. The 
Company has a one-tier system of management that means that managing and 
supervisory duties are joined in the Board of Directors. There are Audit, 
Remuneration and SCR committees. 
 102-40  
List of stakeholder groups  
Please refer to the section Approach to Stakeholder Engagement on the page 15 
 102-41  
Collective bargaining agreements  
99% of employees are covered by a collective bargaining agreement. Please also 
Freedom of Association and Collective Bargaining on the page 67 
 102-42  
Identifying and selecting stakeholders  
Please refer to the section Identifying and selecting stakeholders on the 14 
 102-43  
Approach to stakeholder engagement  
Please refer section Approach to Stakeholder Engagement on the page 15 
 102-44  
Key topics and concerns raised  
Please refer section Key topics and concerns raised on the page 17

85 
SUSTAINABILITY REPORT 2022 
 102-45  
Entities 
included 
in 
the 
consolidated 
financial statements  
Please also refer to the section Note Basis Of Preparation on the page 141 of the 
Annual Report 2022 published on Astarta’s website www.astartaholding.com 
 102-46  
Defining 
report 
content 
and 
topic 
Boundaries  
Please refer to the section Organisational and Content Related Reporting 
Boundaries on the page 16 
 102-47  
List of material topics  
Please refer to the section Matrix of Material Topics of the Company on the page 17 
 102-48  
Restatements of information 
Astarta further enhanced the methodology of energy calculation, please refer to the 
section Energy on the 44. 
Astarta updated its inventory of GHG emissions sources for all business segments, 
please refer to the section Emissions and Responding to Climate Change on the 
page 47 
 102-49  
Changes in reporting  
Please refer section Key topics and concerns raised on the page 17 
 102-50  
Reporting period  
12 months period ending 31 December 2022 
 102-51  
Date of most recent report  
The most recent publication was on April 8th, 2022 
 102-52  
Reporting cycle  
Annual  
 102-53  
Contact point for questions regarding the 
report  
IR@astarta.ua  
 102-54  
Claims of reporting in accordance with the 
GRI Standards  
This report has been prepared in accordance with the GRI Standards: Core option  
 102-55  
GRI content index  
Please refer to the section GRI content index on the page 82 
Material topics  
 ENERGY  
GRI 103: Management Approach 
103-1 
Explanation of the material topic and its boundary 
Please refer to the sections Key Topics and Concerns

86 
SUSTAINABILITY REPORT 2022 
103-2 
The management approach and its components  
Raised and Matrix of Material Topics of the Company on 
the page 17 and section Energy on the 43 
103-3 
Evaluation of the management approach 
GRI 302: Energy 2016 
302-1 
Energy consumption within the organisation 
Please refer to the section Energy on the 43 
302-3 
Energy intensity 
WATER AND EFFLUENTS 
GRI 103: Management Approach 
103-1 
Explanation of the material topic and its boundary  
Please refer to the sections Key Topics and Concerns 
Raised and Matrix of Material Topics of the Company on 
the page 17 and section Land Use and Biodiversity on 
the page 45 
103-2 
The management approach and its components  
103-3 
Evaluation of the management approach  
BIODEVERSITY 
GRI 103: Management Approach 
103-1 
Explanation of the material topic and its boundary  
Please refer to the sections Key Topics and Concerns 
Raised and Matrix of Material Topics of the Company on 
the page 17 and section Land Use and Biodiversity on 
the page 45 
103-2 
The management approach and its components  
103-3 
Evaluation of the management approach  
GRI 304: Biodiversity 2016 
304-1 
Operational sites owned, leased, managed in, or adjacent to, protected 
areas and areas of high biodiversity value outside protected areas 
Please refer to the section Land Use and Biodiversity on 
the page 45 
 EMISSIONS  
GRI 103: Management Approach 
103-1 
Explanation of the material topic and its boundary 
Please refer to the sections Key Topics and Concerns 
Raised and Matrix of Material Topics of the Company on 
the page 17 and section Responding to Climate Change 
103-2 
The management approach and its components

87 
SUSTAINABILITY REPORT 2022 
103-3 
Evaluation of the management approach 
on the page 47 
GRI 305: Emissions 2016 
305-1 
Direct (Scope 1) GHG emissions 
Please refer to the section Responding to Climate 
Change on the page 47 
305-2 
Energy indirect (Scope 2) GHG emissions 
305-3 
Other indirect (Scope 3) GHG emissions 
WASTE 
GRI 103: Management Approach 
103-1 
Explanation of the material topic and its boundary  
Please refer to the sections Key Topics and Concerns 
Raised and Matrix of Material Topics of the Company on 
the page 17 and section Land Use and Biodiversity on 
the page 45 
103-2 
The management approach and its components  
103-3 
Evaluation of the management approach  
 EMPLOYMENT 
GRI 103: Management Approach 
103-1 
Explanation of the material topic and its boundary 
Please refer to the sections Key Topics and Concerns 
Raised and Matrix of Material Topics of the Company on 
the page 17 and section Employment on the page 57 
103-2 
The management approach and its components 
103-3 
Evaluation of the management approach 
GRI 401: Employment 2016 
401-1 
New employee hires and employee turnover 
Please refer to the section Employment on the page 57 
401-2 
Benefits provided to full-time employees that are not provided to 
temporary or part-time employees 
401-3 
Parental leave 
OCCUPATIONAL HEALTH AND SAFETY 
GRI 103: Management Approach

88 
SUSTAINABILITY REPORT 2022 
103-1 
Explanation of the material topic and its boundary 
Please refer to the sections Key Topics and Concerns 
Raised and Matrix of Material Topics of the Company on 
the page 17 and section Occupational Health and Safety 
on the page 60 
103-2 
The management approach and its components 
103-3 
Evaluation of the management approach 
GRI 403: Occupational health and safety 2018 
403-1 
Occupational health and safety management system 
Please refer to the section Occupational Health and 
Safety on the page 60 
403-2 
Hazard identification, risk assessment, and incident investigation 
403-5 
Worker training on occupational health and safety 
403-9 
Work-related injuries 
DIVERSITY AND EQUAL OPPORTUNITY 
103-1 
Explanation of the material topic and its boundary 
Please refer to the sections Key Topics and Concerns 
Raised and Matrix of Material Topics of the Company on 
the page 17 and 
section 
Diversity and 
Equal 
Opportunities on the page 65 
103-2 
The management approach and its components 
103-3 
Evaluation of the management approach 
GRI 405: Diversity and equal opportunity 
405-1 
Diversity of governance bodies and employees 
Please refer to the section Diversity and Equal 
Opportunities on the page 65 
405-2 
Ratio of basic salary and remuneration of women to men 
 HUMAN RIGHTS 
GRI 103: Management Approach 
103-1 
Explanation of the material topic and its boundary  
Please refer to the sections Key Topics and Concerns 
Raised and Matrix of Material Topics of the Company on 
the page 17 and section Human Rights on the page 67 
103-2 
The management approach and its components  
103-3 
Evaluation of the management approach  
GRI 412: Human Rights 2016

89 
SUSTAINABILITY REPORT 2022 
412-1 
Operations that have been subject to human rights reviews or impact 
assessments 
Please refer to the section Human Rights on the page 67 
412-2 
Employee training on human rights policies or procedures 
 LOCAL COMMUNITIES 
GRI 103: Management Approach 
103-1 
Explanation of the material topic and its boundary  
Please refer to the sections Key Topics and Concerns 
Raised and Matrix of Material Topics of the Company on 
the page 17 and section Local Communities on the page 
71 
103-2 
The management approach and its components  
103-3 
Evaluation of the management approach  
GRI 413: Local communities 2016 
413-1 
Operations with local community engagement, impact assessments, 
and development programmes 
Please refer to the section Local Communities on the 
page 71 
 CUSTOMER HEALTH AND SAFETY 
GRI 416: Management Approach 
103-1 
Explanation of the material topic and its boundary  
Please refer to the sections Key Topics and Concerns 
Raised and Matrix of Material Topics of the Company on 
the page 17 and section Certification and Sustainable 
Products and Service on the page 68 
103-2 
The management approach and its components  
103-3 
Evaluation of the management approach  
GRI 416: Customer Health and Safety 2016 
416-1 
Assessment of the health and safety impacts of product and service 
categories 
Please refer to the section Certification and Sustainable 
Products and Service on the page 68 
OTHER MATERIAL TOPICS  
 
Impact of the Company in 2022 
Please refer to the section Business Model and Value Creation on the page 8-9 
 
Information under TCFD 
Please refer to the section Task Force on Climate-related Financial Disclosures on 
the page 18

90 
SUSTAINABILITY REPORT 2022 
 
Information under EU Taxonomy  
Please refer to the section EU Taxonomy Disclosure on the page 39 
 
Responsible procurement 
Please refer to the section Sustainable Procurement on the page 55 
 
russian Invasion Impact 
Please refer to the section russian Invasion Impact on the page 40 
Board Management Structure 
Please refer to the section Board Management Structure on the page 74 
 
Business Ethics 
Please refer to the section Business Ethics on the page 78 
 
Anti-corruption 
Please refer to the section Anti-corruption on the page 79 
 
Shareholders and Share Price Performance 
Please refer to the section Shareholders and Share Price Performance on the page 
80