investors presentation...2 investors presentation june, 2017 disclaimer some of the statements...

June, 2017INVESTORS PRESENTATION1

INVESTORS PRESENTATION

JUNE 2017


DISCLAIMER

Some of the statements contained in this document may be forward-looking statements concerning Vilmorin & Cie SA's financial position,results, businesses, strategy or projects.

Vilmorin & Cie SA considers that such statements are based onreasonable assumptions but cannot and does not give any assurancethat the Group's future performance will be consistent with thosestatements.

Actual results could differ from those currently anticipated in suchstatements due to a certain number of inherent risks and uncertainties,most of which are beyond Vilmorin & Cie SA's control, such as thosedescribed in the documents filed or to be filed by Vilmorin & Cie SA withthe French securities regulator (Autorité des marchés financiers) andmade available for downloading from the Company's website:www.vilmorincie.com


AGENDA

VILMORIN & CIE AT A GLANCE s. 04

VILMORIN & CIE GROWTH STRATEGY s. 11

HIGHLIGHTS AT THE END OF THE 3RD QUARTER 2016-2017 s. 22

SALES AT THE END OF THE 3RD QUARTER 2016-2017 s. 26

OUTLOOK 2016-2017 AND MID-TERM AMBITIONS s. 35

VILMORIN & CIE ON THE STOCK EXCHANGE s. 43

SCHEDULE AND CONTACTS s. 46

APPENDICES s. 49


4

VILMORIN & CIE AT A GLANCE


VILMORIN & CIE, 4TH LARGEST SEEDS COMPANY IN THE WORLD

Fourth largest seeds company in the world with leading positions on its core activities

Pure player built up on historical expertise in botany since 1743and on the basis of real proximity with the agricultural world

A long-term vision of the development, strengthened by the consistent support of its reference shareholder, Limagrain, an international agricultural cooperative group


N°2worldwide

for vegetable

seeds

N°1in Europe

for straw

cereals (1)

N°3in North

America for

corn seeds

N°4in Europe

for corn

seeds

(1) Wheat and barley


A FULL CONTROL OF ALL STAGES IN SEEDS BUSINESS


ANALYZING

NEEDS

CREATING

NEW SEEDS

COLLECTING

GENETIC

RESOURCES

PRODUCING

SEEDS

DISTRIBUTING AND

SELLING SEEDS

AROUND 300 VARIETIES LAUNCHED PER YEAR

A 7 TO 10 YEARS CYCLE


A SOLID TRACK RECORD


In M€

Integration of European

and US field seeds

Brasmilho Sementes Guerra / Brazil

Bisco Bio Sciences / IndiaBSF/Genesis/Trigen/

Trio Research / USA Century Seeds / India

Link Seed / South Africa

Eureka Seed / USA

Seed Co / Africa (*)

Seed Asia / Thailand

Field seeds acquisition

Hengji Limagrain Seeds / China (JV)

Golden Acres / USA

43.8

54.8

44.353.0 54.1

91

80.6

99.4

84.1

72.9

59.3494

939 8971 002

1 064

1 192

1 338

1 472 1 500 1 5311 627

1 2691 325

0

20

40

60

80

100

120

140

0

200

400

600

800

1000

1200

1400

1600

1800

2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16

Vegetable seeds acquisition

Tropdicorp/Vietnam

Shamrock / USA and Mexico

Canterra Seeds / Canada(*)

Genica Research / USA

Su Tarim / Turkey

Meza Maize / USA

61.7

29.3


A BUSINESS ORGANIZATION CLOSE TO THE MARKETS : KEY FOR SUCCESS


VEGETABLE SEEDS

VEGETABLE GROWERS

3 BUSINESS UNITS

Key leading brands:

FIELD SEEDS

FARMERS

6 BUSINESS UNITS

Key leading brands:

GARDEN PRODUCTS

MARKET GARDENERS

1 BUSINESS UNIT

Key leading brand:


Investors

(of which ~53%

internationally

based: USA, UK,

Singapore,

Belgium…)

A LONG TERM REFERENCE SHAREHOLDER

Groupe Limagrain:

An international agricultural cooperative group, founded and managed by French farmers

A seed group involved in the development of

integrated agricultural chains

Vegetable seeds and field seeds

Cereal products

(cereal ingredients and bakery products)

BREAKDOWN OF THE CAPITAL

ON JANUARY 31th 2017

6.60%

19.60%

73.80%

Groupe Limagrain*

Individual shareholders

* of which BPI France as a strategic shareholder of Limagrain

Sources: Euroclear and Euronext

TOTAL NUMBER OF SHARES:

20 833 902



Moving agriculture forward to meet food challenges

A LONG TERM REFERENCE SHAREHOLDER

Groupe Limagrain, a reference shareholder guaranteeing:

Stable corporate governance

Long term strategy

A perfect knowledge of agriculture, customers and theirs needs

LIMAGRAIN IN BRIEF

MISSION

* Figures for the overall scope of activity worldwide, taking into account data from the

companies AgReliant, AGT, Genective, Seed Co and Soltis.


STRATEGY

KEY FIGURES

To provide farmers throughout the world with sustainable solutions to improve their farms' profitability

Nearly 2,000 farmer membersClose to 2.5 billion Euros in salesMore than 10,000 employees


11

VILMORIN & CIE GROWTH STRATEGY


1/ PROMISING WORLD SEEDS MARKETS


POWERFUL GROWTH FACTORS:

Increase in seeds demand

Growth in the world population (10 bn in 2050)

Improvement in the standards of living

Increase in the use of commercial seeds

Ever greater use of genetically modified

(“GM”) seeds worldwide

Vegetable seeds

(Conventional seeds)

WORLD MARKET

FOR COMMERCIAL SEEDS (2015)

(CAGR between 2010 and 2015)

Field Seeds –

Conventional seeds

Field Seeds –

GM seeds

13,9 %

32,9 %

53,2 %

MARKET VALUE 2015:

$37.2 BN. GLOBAL CAGR: +3,8% / YEAR

Sources: Phillips McDougall 2016 and ISAAA 2016


1/ MARKET FOR SEEDS: SLIGHT SLOWDOWN FOR GMO IN 2015


WORLD MARKET ACREAGE

179.7 million hectares (around 10% of arable land), -1% / 2014,

grown by 18 million farmers in 28 countries

Sources: ISAAA 2016. Phillips McDougall 2016

WORLD MARKET VALUE

$20 billion in 2015 (i.e. 53 % of the world market for seeds), -6% / 2014

0

20

40

60

80

100

120

140

160

180

1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Others

China

India

Canada

Argentina

Brazil

USA

million ha180

125134

148

160

170175

182GMO :

ACREAGE PER COUNTRY


1/ MARKET FOR SEEDS: HIGH BARRIERS TO ENTRY


A concentrated competitive environment

High barriers to entry:

Width and depth of the genetic resources

R&D investment (conventional breeding and biotechnologies)

International coverage

WORLDWIDE COMPETITIVE ENVIRONMENT FOR SEEDS

Seeds companies – Sales* in millions of euros – 2016(KWS, Monsanto and Vilmorin & Cie : 2015-2016 data). Vilmorin & Cie : excluding Garden products.

Sources: Company publications and internal. 2016

0 1 000 2 000 3 000 4 000 5 000 6 000 7 000 8 000 9 000 10 000

Sakata

Rijk Zwaan

DLF

Bayer

KWS

Dow

Vilmorin & Cie

Syngenta

Dupont Pioneer

Monsanto

Semences potagères Semences de grandes cultures

388

270

Bayer/ Monsanto

+ ChemChina

9 080

6 019

2 415

1 573Dow Dupont

1 409

1 357

1 356

480

27%

18%

8%5%4%

4%4%

30%

Dupont Pioneer

Syngenta

KWS

Bayer

Vilmorin & Cie

Monsanto

Others

Dow

*Without IFRS 11 impact

Vilmorin & Cie

Vegetable seeds

Field seeds


2/ A STRATEGY OF WINNING MARKET SHARES


3 strategic priorities

3 strategic foundations

INNOVATION TARGETED POLICY OF

EXTERNAL GROWTHINTERNATIONALIZATION

Vegetable seeds: reinforce world leadership

Corn seeds: become a global actor

Wheat seeds : become the world reference


34%

32%

17%

17%

3 / VEGETABLE SEEDS. DIVISION PROFILE


Tomato

Sweet and hot pepper

Carrot

Melon

BeanSquashOnion

Others

SALES OF VEGETABLE SEEDSPER CROP. 2015-2016

SALES OF VEGETABLE SEEDSPER GEOGRAPHICAL AREA. 2015-2016

Europe

Americas

Africa / Middle East

Asia / Oceania

KEY FIGURES 2015-2016

31689

15.9%

COUNTRIES

WITH

LOCATIONS

M€

SALES

OPERATING

MARGIN

Current operating margin : 16.2%

1

3

1

1

21

1,2,3: worldwide competitive positions

N°2In the

World

- A very strong competitive position addressing worldwide vegetable growers and food processors

- An extremely diversified product line-up with more than 30 species (tomato, carrot, melon, pepper, bean, etc.)


3 / VEGETABLE SEEDS. STRATEGY


Reinforce world leadership

Make full use of the virtuous circle of innovation and proximity to continue to win market shares

Close targeted operations for acquisitions or partnerships to strengthen positions on certain crops and/or certain geographical zones (particularly in Asia)

CAMPBELLS’ SEEDSSeptember 2012

Tomato and pepper

United States

Sales: more than 5 M$

CENTURY SEEDSOctober 2012

10 local crops

India

Sales: 4 M€

TROPDICORP March 2015

Bitter gourd, pumpkin,

wax gourd

Vietnam

Sales: 6 M$

GENICA RESEARCHFebruary 2016

Sweet and hot peppers,

cucumber, summer squash

United States

Sales: more than 25 M$

Recent acquisitions:

http://www.campbellseeds.com/default.aspx

http://www.campbellseeds.com/default.aspx


54%40%

4% 2%

4 / FIELD SEEDS. DIVISION PROFILE


SALES OF FIELD SEEDS*PER GEOGRAPHICAL AREA. 2015-2016

Europe

Americas

Asia / Oceania

KEY FIGURES 2015-2016

33

582

1.8%

COUNTRIES

WITH

LOCATIONS*

M€

SALES

OPERATING

MARGIN

Current operating margin : 2.8%

(884 M€)*

N°1In Europe

for straw

cereals

N°3In North

America

And N°4In Europe

for corn seeds

- One of the top players in strategic crops targeting farmers

- 2 worldwide strategic crops: corn and wheat

- And regional strategic crops: sunflower, rapeseed and barley in Europe, rice in India, and soybean, which Vilmorin & Cie distributes in North and South America

10%

3%

4%

14%

69%

SALES OF FIELD SEEDS*PER CROP. 2015-2016

Cereals (corn,

wheat, barley)

Other field seeds

Rapeseed

Feed grains

Sunflower

(1) Wheat and barley


* Without the application of the standard IFRS 11 (“Joint arrangements”) resulting in certain

activities being consolidated using the “Equity method” since 2014-2015 (in particular AgReliant.

North America. Field seeds)

(1)


4 / CORN SEEDS. STRATEGY


CORN SEEDS: BECOME A GLOBAL ACTOR

SEED COMinority stake. 2014

#1 African seeds company

Sales: 96 M$

5 factories & 6 research stations in south

east Africa

SEED ASIAMarch 2014

Hybrid tropical corn

Thailand

Sales: 9 M$

HENGJI LIMAGRAIN SEEDSJV. September 2015

Corn

China

Production and distribution

Technological strategic partnership between Vilmorin & Cie and KWS

*Source: ISAAA 2016

Internationalize activitiesfurther afield from European and North American activities on the largest world seed market in terms of value

(about $15 bn in 2015*)

GM corn traits licensing agreements with Syngenta (October 2015)

Develop a proprietary portfolio of GM seeds

Recent acquisitions:


4 / WHEAT SEEDS. STRATEGY


WHEAT SEEDS: BECOME THE WORLD REFERENCE

*Source: ISAAA 2016

Consolidate position of leader in Europe and become the world reference of the first worldwide crop in terms of cultivated surface areas (≈ 222 million hectares in 2015*)

Develop more efficient seeds and contributeto converting the market to high yield seeds

Gradually extend the positions to other major wheat markets and develop strong partnerships internationally

NORTH AMERICA

United States

Canada

AUSTRALIA

Australian Grain Technologies

OTHER ZONES

South America

Asia


5/ R&D: INNOVATE TO INSURE TOMORROW’S GROWTH


2015-2016

*of which €225 million research investments without integrating partnerships

€300 MILLION

RESEARCH INVESTMENT

INTEGRATING PARTNERSHIPS*

MORE THAN

14%INVESTED IN BIOTECHNOLOGIES

Maintain regular investment in research (breeding and biotechnologies) and broaden the partnerships

1,036 1,086 1,120 1,180

255 242261

302

183 194 211 225

14.2% 14.6% 15.3% 15.2%

17.4% 17.4%18.9% 19.1%

0

200

400

600

800

1 000

1 200

1 400

1 6002012-2013 2013-2014 2014-2015 2015-2016

Effort de recherche

Chiffre d'affaires semences AgReliant (à 50%)

Chiffre d'affaires semences

Effort de recherche/chiffre d'affaires semences (yc AgReliant 50%)

Effort de recherche/chiffre d'affaires semences (IFRS 11)

Investment in research

AgReliant’ sales of seeds (50%)

Sales of seeds

Investment in research/Sales of seeds (incl. 50% AgReliant)

Investment in research/Sales of seeds (IFRS 11)


22

HIGHLIGHTS AT THE END OF THE 3RD

QUARTER 2016-2017


KEY POINTS

Significant increase in sales for the 3rd quarter 2016-2017: +5.7%*

Strong growth in aggregate sales (9 months): +8.1%*

Fine performance of the Vegetable seeds activity: +5.1%*

Confirmed upturn in business for the Field seeds activity, in a market context that remains difficult: +11.7%*

Outlook for 2016-2017

Confirmation of the global objective for business growth

Upward adjustment of the current operating margin

* On a like-for-like basis


VEGETABLE SEEDS. AFRICA. MARCH 2017

VILMORIN & CIE LATEST NEWS

Context:

Minority stake of Vilmorin & Cie, since 2013-2014, in Seed Co (30.4%), the largest seed company in Africa

Entry of Seed Co, already solidly established in South East Africa (mainly in corn), into the vegetable seed market in 2015: acquisition of Prime Seed in Zimbabwe

Objective:Take up position, as a result of the numerous synergies between the twocompanies, on a vegetable seed market with enormous potential fordevelopment in Sub-Saharan Africa.

Creation of a joint venture in Vegetable seeds “Prime Seed Co”

between Vilmorin & Cie and Seed Co in Africa*

* Joint venture set up operationally between Seed Co (holding 51% of the capital stock) and the Vegetable seeds Business Unit HM.CLAUSE


WHEAT SEEDS. UNITED STATES. MARCH 2017

VILMORIN & CIE LATEST NEWS

Reminder:

Minority stake of 35% held by Arcadia Biosciences, since 2010, in Limagrain Cereal Seeds, the Vilmorin & Cie Business Unit devoted to the development of wheat seed in North America

Minority stake held by Vilmorin & Cie (< 4%) in Arcadia Biosciences, listed on the NASDAQ since May 2015

Renegotiation of the partnership with Arcadia Biosciences (United States. Wheat)

Vilmorin & Cie and Arcadia Biosciences, an American biotechnologycompany, terminate (end of March 2017) their system of crossshareholdings set up in 2010.

The two companies envisage pursuing their scientific partnership, particularly with

regard to research in wheat.


26

SALES AT THE END OF THE 3RD QUARTER 2016-2017


REFERENCES


average close

2016 2017 2016 2017

$ 1.10 1.09 1.14 1.07

¥ 132 118 128 120

£ 0.74 0.86 0.79 0.86

TRY 3.20 3.60 3.21 3.89

ILS 4.28 4.12 4.30 3.89

BRL 4.15 3.51 4.12 3.38

INR 73 73 75 69

MXN 18.84 21.31 19.59 20.02

UAH 26 28 30 29

RUB 75 68 76 60

Accounting reference

IFRS on March 31, 2017

Rates of the main currencies on March 31, 2017 (and March 31, 2016)


CONSOLIDATED SALES*

AT THE END OF THE THIRD QUARTER

THIRD QUARTER

* Revenue from ordinary activities

* of which:

Vegetable seeds: 212

Field seeds: 330


In M€

533

567*3

31

mar.-16 Impactdevises

Activité mar.-17

+6.4%

+5.7%

990

1 070

0.5

80


Activité mar.-17

+8.1%

+8.1%

March 16 Mars 17 Mars 16 Mars 17March 16March 17 March 17Currency

impact

Currency

impact

Activity Activity


SALES* OF VEGETABLE SEEDS

THIRD QUARTER



471

4994

24


Activité mar.-17

+5.9%

+5.1%

200

212

210


Activité mar.-17

+6.3%

+5.0%

In M€


Mars 16 Mars 17Mars 16 Mars 17

March 16March 16March 17

March 17Currency

impactCurrency

impact

Activity Activity


SALES OF VEGETABLE SEEDS


37%

30%

18%

15%

Context of a dynamic market, which is however less buoyant at

the moment in certain territories (Italy, Spain, Mexico)

Very good level of sales, bearing in mind the high reference

base of fiscal year 2015-2016

Significant business growth of the three Business Units in all

the geographical zones

Increase in sales once again very strong at the end of the

quarter, demonstrating that the European market is picking up

and in North America business is extremely dynamic

Great success for certain strategic crops: carrot, hot and sweet

pepper and summer squash in particular

Programmed run-down of the agricultural supplies and

equipment activity of the Business Unit Vilmorin-MKS pursued

in Japan

Europe


Asia / Oceania

Americas

ANALYSIS OF SALES*

OF VEGETABLE SEEDS PER GEOGRAPHICAL ZONE

A quarter with solid growth

* Sales of products


SALES* OF FIELD SEEDS


THIRD QUARTER


after application of IFRS 11 (i.e. excluding AgReliant)


479

532

56

-3


Activité mar.-17

+11.0%

+11.7%

308

330

1

21


Activité mar.-17

+7.0%

+6.7%

In M€

Mars 16 Mars 17Mars 16 Mars 17

March 16March 16

March 17March 17

Currency

impact Currency

impact

ActivityActivity


SALES OF FIELD SEEDS


447234

84

Corn and sunflower. Europe

Growing business, in a context marked again this year by considerable

pressure on prices

Further drop in the sales of corn seeds:Direct consequence of the predicted decrease in cultivated acreage, mainly

in Western Europe (especially in France)

In spite of a commendable increase in business in Eastern Europe, where

market shares gains were achieved

Very strong increase in the sales of sunflower seeds, mainly in key markets:

Ukraine and Russia

Corn. South America

Extremely powerful business growth for the second sales campaign in Brazil

(Safrinha), resulting in market share gains

Corn. North America (AgReliant)

Drop in volumes of corn seeds brought to market, proportionately to the

lower acreage predicted for this crop

Corn. Africa (Seed Co)

Strong increase in sales of corn seed

Europe

North

America

(AgReliant)

Other zones

ANALYSIS

PER GEOGRAPHICAL ZONE(evolution on a like-for-like basis,

before application of IFRS 11)

(+5.6%)

(-6.1%)

(+61.4%)

TOTAL SALES

(including AgReliant): €765 M

Confirmed upturn in business in an environment that remains difficult

In M€


CONSOLIDATED SALES* PER GEOGRAPHICAL ZONE


Americas

€226 M. +24.1%**

Africa/Middle East €107 M. +2.9% **

Europe

€595 M. +3.7%**

Asia/Oceania

€107 M. +10.8%**

60 %

10 %

58%

22%

10%

10%Africa/

Middle East

Americas

Asia / Oceania

Europe

* Sales of products

** With current data compared with 2015-2016


CONSOLIDATED SALES* PER QUARTER



8 8 6 625 25 1513 22 15 3719 25

11

66 63 77

79

289305

92

122138

149

149

200

212

218

Q1 15-16 Q1 16-17 Q2 15-16 Q2 16-17 Q3 15-16 Q3 16-17 Q4 15-16 Q4 16-17

In M€

210

247

533

335

232

Vegetable seeds

Field seeds Europe

Field seeds other zones

Garden products and Holdings

SALES*

PER QUARTER

Dis

clo

su

re o

n J

uly

31

, 2

01

7

271

___

567


OUTLOOK 2016-2017AND MID-TERM AMBITIONS


VEGETABLE SEEDS

OUTLOOK FOR THE END OF FISCAL YEAR 2016-2017

Outlook for the end of the fiscal year:

Objective for Vegetable seeds sales readjusted slightly lower

Challenges for the end of the fiscal year:

Market share gains and confirmation of the strong growth of the

Vegetable seeds activity over the fourth quarter, with a high

reference base for 2015-2016

Objective

Sales = +6%*

* On a like-for-like basis.


FIELD SEEDS


Definitive evolution of corn and sunflower acreage

Resistance to the persistent pressure on prices

Final impact of the exchange rates between different currencies

Challenges for the end of the fiscal year:

Outlook for the end of the fiscal year:

Objective for Field seeds sales raised

Objective

Sales > +5%*



CONFIRMATION OF THE GLOBAL SALES OBJECTIVE


OBJECTIVE PRESENTED IN FEBRUARY 2017* (following disclosure of the results for the first semester)

Sales

of which:

Vegetable seeds

Field seeds

+5%

> 7%

> 2%


Sales objective for 2016-2017 :

Achieve significant growth in business,

in market conditions that remain tense for field seeds

and characterized by consolidation operations in the agrochemical sector

OBJECTIVE PRESENTED AT THE END OF THE 3RD QUARTER*

Sales

of which:

Vegetable seeds

Field seeds

> 5%

+6%

> 5%


UPWARD ADJUSTMENT OF THE CURRENT OPERATING MARGIN


OBJECTIVE PRESENTED IN FEBRUARY 2017 (following disclosure of the results for the first semester)

Current operating

margin

~ 8.4%

(which is the same level as in

2015-2016) including a research

investment of more than €240 M

Current operating margin objective for 2016-2017:

REVISED OBJECTIVE (at the end of the 3rd quarter)

Current operating

margin

9.0%

including a research investment

of more than €240 M

The fruit, in particular, of the implementation,

as of April 2016,

of the operational action plan

Aim for a contribution from the companies it consolidates under the equity method, at least equivalent to 2015-2016

While continuing to deploy the strategy of development and innovation, in a long-term vision,

and relying on the complementarity of the two strategic activities


REMINDER OF THE STRATEGIC AMBITIONS FOR 2020

MID-TERM AMBITIONS

Accelerate development to reach business growth higher than market trends and increase operating margins, both in Vegetable Seeds and Field Seeds

Consolidate the financial profile, both in terms of leverage (aiming a level of between 1.5 and 2) and indebtedness (with gearing lower than 40%), making sure in particular to increase cash generation

Materialize the 3 strategic priorities:

VEGETABLE SEEDS

REINFORCE WORLD LEADERSHIP

CORN SEEDS

BECOME A GLOBAL PLAYER

WHEAT SEEDS

ULTIMATELY BECOME THE WORLD REFERENCE


REMINDER OF AMBITIONS FOR 2020. VEGETABLE SEEDS

MID-TERM AMBITIONS

Pursue the strategy of combining organic and external growth

Regular renewal and optimization of the product portfolio

Even greater proximity to markets

Targeted external growth operations

Continue to increase value in emerging markets

AVERAGE SALES GROWTH

OF MORE THAN 5% PER YEAR

REACH AN ANNUAL OPERATING MARGIN LEVEL OF 18%

AMBITION FOR 2020


REMINDER OF AMBITIONS FOR 2020. FIELD SEEDS

MID-TERM AMBITIONS

Continue the strategy of innovation and internationalization

Quality of the products pipeline

International deployment

Development of a proprietary range of genetically modified varieties

REACH SALES

OF AROUND 1 BILLION EUROS

AND AN ANNUAL OPERATING MARGIN LEVEL OF 10%

(INCLUDING AGRELIANT AT 50%)

AMBITION FOR 2020


VILMORIN & CIEON THE STOCK EXCHANGE


(Source: Euronext.com)

€72.42SHARE PRICE

ON JUNE 23RD, 2017

VILMORIN & CIE ON THE STOCK EXCHANGE

EVOLUTION OF THE SHARE PRICE

Vilmorin & Cie :

Vilmorin & Cie

CAC 40MARKET CAPITALIZATION

ON JUNE 23RD, 2017

€1.5 BN.

+ 20% 10 years + 14.5% 5 years + 25% 1 year


VILMORIN & CIE ON THE STOCK EXCHANGE

DIVIDENDS (1)

* Capital gain from the disposal of a minority stake in China.

(1) Data restated for the allotment of free shares of January 2013 and January 2015.

28.4%Pay-out 35.3% 31.4% 37.2% 44.8% 38.6%

4.37

3.87

4.77

4.04

3.50

2.85

1.24 1.36 1.50 1.50 1.571.10

2011 2012 2013 2014 2015 2016

Profit (group share) per share Dividend

1.40*


SCHEDULE AND CONTACTS


MONDAY JULY 31, 2017, AFTER TRADING

Disclosure of sales for fiscal year 2016-2017 (on June 30, 2017)

WEDNESDAY OCTOBER 18, 2017, AFTER TRADING

Disclosure of results for fiscal year 2016-2017 (on June 30, 2017)

MONDAY NOVEMBER 6, 2017, AFTER TRADING

Disclosure of sales at the end of the first quarter 2017-2018 (on September 30, 2017)

SCHEDULE


Daniel JACQUEMOND

Chief Financial Officer

[email protected]

FOR ANY FURTHER INFORMATION:

CONTACTS

Clémence DATURI

Financial Communication Officer

and Individual Shareholders Relations

[email protected]

Valérie MONSERAT

Head of Financial Communication

and Investor Relations

[email protected]

All our financial information on

www.vilmorincie.com

Vilmorin & Cie

Head Office: 4 quai de la Mégisserie – F-75001 PARIS

Postal address: CS 20001 Saint-Beauzire – F-63360 GERZAT

Tel: +33 (0)473 634 485


APPENDICESMarket contextKey financial data for fiscal year 2015-2016Organization chart


APPENDICESMarket context


50

100

150

200

250

300

aoû

t-1

2o

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-12

déc.-

12

févr.

-13

avr.

-13

juin

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-13

déc.-

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-16

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déc.-

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Blé rendu Rouen Maïs rendu Bordeaux

FIELD SEEDS TRENDS

Price levels for agricultural production

MARKET CONTEXT

Price of corn. Bordeaux: 166 €/tn.

Price of wheat. Rouen: 166 €/tn.

February 2017

Corn, soybean and wheat prices. Chicago

Corn: 146 $/t

Soybean: 389 $/t

Wheat: 159 $/t

February 2017

50

150

250

350

450

550

650

aoû

t-1

2o

ct.

-12

déc.-

12

févr.

-13

avr.

-13

juin

-13

aoû

t-1

3o

ct.

-13

déc.-

13

févr.

-14

avr.

-14

juin

-14

aoû

t-1

4o

ct.

-14

déc.-

14

févr.

-15

avr.

-15

juin

-15

aoû

t-1

5o

ct.

-15

déc.-

15

févr.

-16

avr.

-16

juin

-16

aoû

t-1

6o

ct.

-16

déc.-

16

Blé US Chicago Maïs US Chicago Soja Chicago

Sources: Cereals market - FranceAgriMer, IGC, La dépêche. November 2016


FIELD SEEDS TRENDS

MARKET CONTEXT

Sources: internal estimates

Corn

Sunflower

United States

↘ Acreage

Europe 28

↘ Acreage

Greater Europe

↘ Acreage

Brazil

↗ Safra acreage

↗ Safrinha acreage

Europe 28

↗ Acreage

Greater Europe

↗ Acreage

Low level of prices for agricultural raw materials

Trends in the evolution of acreage

A market context that remains difficult for field seeds


APPENDICESKey financial data for fiscal year 2015-2016


INCOME STATEMENT FOR FISCAL YEAR 2015-2016 (CLOSING JUNE)

VILMORIN & CIE KEY FINANCIALS

(1) The current operating margin is defined as the operating margin in the accounts restated for impairments, reorganization costs and certain items

of an extraordinary nature(additional procurement costs and partial allocation of goodwill in 2015-2016).

In M€ 2014-2015 2015-2016 Variation

Sales 1 269.4 1 325.1 +4.4%

Sales margin 603.3 632.2 +28.9 M€

Sales margin rate 47.5% 47.7% +0.2 pt

Operating income 100.2 100.3 +0.1 M€

Operating margin rate 7.9% 7.6% -0.3 pt

Current operating margin rate(1) 8.0% 8.4% +0.4 pt

Financial income -39.2 -36.5 -(2.7) M€

Income from associated companies 29.4 30.8 +1.4 M€

Income taxes -14.5 -33.8 +(19.3) M€

Net income 75.9 60.8 -15.1 M€

Net income Group share 72.9 59.3 -13.6 M€


KEY FIGURES CONTRIBUTED TO CONSOLIDATED SALES PER DIVISION FOR FISCAL YEAR 2015-2016



In M€ Sales* Operating income Net income

2014-15 2015-16 2014-15 2015-16 2014-15 2015-16

Vegetable seeds 614.6 688.7 95.8 109.3 63.9 71.6

Field seeds 595.3 581.7 20.9 10.6 20.7 17.3

Garden products 58.4 53.6 -0.7 -4.6 -1.3 -4.6

Holdings 1.1 1.1 -15.8 -15.0 -7.4 -23.5

Consolidated 1,269.4 1,325.1 100.2 100.3 75.9 60.8


FREE CASH FLOW


(1) EBITDA is defined as follows: Operating income + Net depreciation & amortization + Net impairment

In M€ 2014-2015 2015-2016

Net indebtedness at the beginning of the FY 515 660

EBITDA(1) 263 278

Variation of working capital needs (44) 20

Other operating items (41) (28)

Net industrial investments (62) (46)

Activated development costs (148) (157)

Operating cash-flow (32) 68

Net financial investments (62) (116)

Capital and other equity contributions - (1)

Dividends (21) (10)

Net financial charges (28) (23)

Free cash-flow (142) (83)

Other restatements (IFRS/ Currency, etc.) (4) 1

Net indebtedness at the end of FY 660 742


BALANCE SHEET STRUCTURE


660 742

63 646989

1,2721,264

30.06.2015 30.06.2016

Total balance sheet 2,064

* of which cash 373 207

In M€

Gearing 59%

Leverage 2.72,159

501 468

1,563 1,691

30.06.2015 30.06.2016

Assets

Net fixed assets

Net working capital needs

Liabilities

Equity

Provisions

Net deferred taxes

Net indebtedness


APPENDICESVILMORIN & CIE ORGANIZATION CHART


FIELD SEEDS

Limagrain Europe

AgReliant (corn, soybean)

Limagrain Asia

Limagrain Cereal Seeds (wheat)

Limagrain South America

Limagrain Africa

ORGANIZATION CHART

VEGETABLE SEEDS

HM.CLAUSE

Hazera

Vilmorin-MKS

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THANK YOUVILMORIN & CIE

Head Office : 4 Quai de la Mégisserie – F - 75001 PARIS

Postal address : CS 20001 Saint-Beauzire - 63360 GERZAT

Tel. + 33 (0)4 73 63 44 85

www.vilmorincie.com

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