FINANCIAL & BUSINESS HIGHLIGHTS<\/b><\/p>\n MANAGEMENT REVIEW<\/b><\/p>\n \nMr. Federico Trucco, Bioceres\u00b4 Chief Executive Officer, commented: \u201cAs we anticipated during our prior earnings call, our growth momentum has been transiently interrupted by unusually severe drought conditions in Argentina, which extended throughout the entire planting window for summer crops. Although we are flat when compared with last year\u2019s revenue for the quarter, we are down by 7% year-over-year for this three-month period on a pro forma basis after including Pro Farm\u2019s operations. This circumstantial decline interrupts a run of seven consecutive quarters of top-line growth and profitability expansion, which we expect to resume in the second half of the fiscal year as weather conditions have turned more favorable in our key commercial regions.\u201d\n<\/p>\n \n\u201cOn a less circumstantial and more permanent front, the severe drought conditions in Argentina have allowed us to put HB4 technology to the test, like never before. The performance of HB4 wheat has been outstanding on all fronts. In environments yielding less than 2 tons per hectare, HB4 wheat has outperformed commercial materials by an average yield improvement of 43%, winning in seven out of every 10 locations and, averaging a win rate of eight out of 10 when aggregating the last three seasons. When confounding effects from background genetics are neutralized \u2012 as is the case for comparisons among isogenic varieties (i.e. varieties that are nearly genetically identical except for the presence of the HB4 gene) \u2012 HB4 win rates increase to above 80%, across all environments, not just those with yields below 2 tons per hectare, ratifying the broad hectare opportunity resulting from the technology.\u201d\n<\/p>\n \n\u201cFrom an HB4 wheat inventories perspective, we can cover up to one-third of next season\u2019s HB4 plantings with second generation materials, allowing us to replace first generation varieties almost fully by FY24, when we expect HB4 wheat to deliver $15-to-$20 million in incremental EBITDA. As a reminder, second-generation materials show a double-digit genetic gain when compared with first-generation materials in high-yielding environments, outperforming top commercial varieties even when yields average more than 4 tons per hectare.\u201d\n<\/p>\n \nMr. Enrique Lopez Lecube, Bioceres\u00b4 Chief Financial Officer, noted, \u201cWhile our fiscal second quarter results were adversely affected by the severe drought in Argentina, we also saw the benefit of strategic actions that drove our positive performance for the first half of 2023 and will benefit our results going forward. Our priorities to diversify our product portfolio, expand our geographic presence and maintain a strong alliance with our grower customers \u2013 all with an eye on managing costs \u2013 will allow us to continue the momentum we saw in the first half of the year, and drive further Adjusted EBITDA improvement. Moving forward, we believe the extreme weather conditions we are seeing around the world highlight the increasing need for our products. While weather may temporarily affect our quarterly results from time to time, our long-term growth trajectory remains robust.\u201d\n<\/p>\n KEY FINANCIAL METRICS Table 1: 2Q23 & 1H23 Key Financial Metrics<\/b><\/p>\n<\/td>\n<\/tr>\n 2Q22 2Q23<\/b><\/p>\n<\/td>\n % Change<\/b><\/p>\n<\/td>\n 1H22 1H23<\/b><\/p>\n<\/td>\n % Change<\/b><\/p>\n<\/td>\n<\/tr>\n Revenue by Segment<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Crop Protection<\/b><\/p>\n<\/td>\n \n56.3\n<\/p>\n<\/td>\n \n53.3\n<\/p>\n<\/td>\n \n(5%)\n<\/p>\n<\/td>\n \n97.3\n<\/p>\n<\/td>\n \n116.3\n<\/p>\n<\/td>\n \n20%\n<\/p>\n<\/td>\n<\/tr>\n Seed and Integrated Products<\/b><\/p>\n<\/td>\n \n15.3\n<\/p>\n<\/td>\n \n16.3\n<\/p>\n<\/td>\n \n7%\n<\/p>\n<\/td>\n \n24.0\n<\/p>\n<\/td>\n \n30.2\n<\/p>\n<\/td>\n \n26%\n<\/p>\n<\/td>\n<\/tr>\n Crop Nutrition<\/b><\/p>\n<\/td>\n \n29.5\n<\/p>\n<\/td>\n \n24.7\n<\/p>\n<\/td>\n \n(16%)\n<\/p>\n<\/td>\n \n54.3\n<\/p>\n<\/td>\n \n75.0\n<\/p>\n<\/td>\n \n38%\n<\/p>\n<\/td>\n<\/tr>\n Total Revenue<\/b><\/p>\n<\/td>\n 101.1<\/b><\/p>\n<\/td>\n 94.4<\/b><\/p>\n<\/td>\n (7%)<\/b><\/p>\n<\/td>\n 175.6<\/b><\/p>\n<\/td>\n 221.5<\/b><\/p>\n<\/td>\n 26%<\/b><\/p>\n<\/td>\n<\/tr>\n \nGross Profit\n<\/p>\n<\/td>\n 48.7<\/b><\/p>\n<\/td>\n 35.3<\/b><\/p>\n<\/td>\n (28%)<\/b><\/p>\n<\/td>\n 82.6<\/b><\/p>\n<\/td>\n 86.7<\/b><\/p>\n<\/td>\n 5%<\/b><\/p>\n<\/td>\n<\/tr>\n Gross Margin<\/i><\/p>\n<\/td>\n 48.1%<\/i><\/p>\n<\/td>\n 37.4%<\/i><\/p>\n<\/td>\n (1,076 bps)<\/i><\/p>\n<\/td>\n 45.5%<\/i><\/p>\n<\/td>\n 40.5%<\/i><\/p>\n<\/td>\n (505 bps)<\/i><\/p>\n<\/td>\n<\/tr>\n<\/table>\n 2Q22 2Q23<\/b><\/p>\n<\/td>\n % Change<\/b><\/p>\n<\/td>\n 1H22 1H23<\/b><\/p>\n<\/td>\n % Change<\/b><\/p>\n<\/td>\n<\/tr>\n Adjusted EBITDA<\/b><\/p>\n<\/td>\n 18.3<\/b><\/p>\n<\/td>\n 10.3<\/b><\/p>\n<\/td>\n (43%)<\/b><\/p>\n<\/td>\n 30.8<\/b><\/p>\n<\/td>\n 34.9<\/b><\/p>\n<\/td>\n 13%<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n1.\n<\/p>\n<\/td>\n \n2Q22 and 1H22 pro forma financials include Pro Farm historical numbers.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Summary:<\/b>Drought in Argentina drove the decline in 2Q23 Crop Protection and Crop Nutrition revenues, partially offset by moderate growth in the Seed and Integrated Products segment, which included first-time HB4 Soy sales. Lower sales in Argentina were partially offset by growth in other Latin American geographies. Additionally, Pro Farm biological products delivered higher sales in North America in the quarter, diversifying the product portfolio internationally and in new product markets. Some 2Q23 sales were realized in 1Q23 as commercial teams in Argentina locked-in early sales to distributors and growers in anticipation of challenging weather conditions. As a result, while revenues for 2Q23 decreased 7%, sales for 1H23 increased 26%. Overall gross profit declined 27% in the quarter, a function of product mix and lower pricing for key products in Argentina, where the commercial strategy focused on increasing farmer proximity and preserving market share. Lower sales and gross margins resulted in a lower Adjusted EBITDA of $10.3 million. For the first half of FY23, gross profit was up 5% and Adjusted EBITDA, at $34.9 million, was 13% higher year-over-year on a pro forma basis.\n<\/p>\n For a full version of Bioceres fiscal second quarter 2023 earnings release, click <\/b>here<\/b><\/a>.<\/b><\/p>\n SECOND QUARTER 2023 EARNINGS CONFERENCE CALL<\/b><\/p>\n \nManagement will host a conference call and question-and-answer session, which will be accompanied by a presentation available during the webcast or accessed via the investor relations section of the company\u2019s website<\/a>.\n<\/p>\n \nTo access the call, please use the following information:\n<\/p>\n \nDate:\n<\/p>\n<\/td>\n \nThursday, February 9, 2023\n<\/p>\n<\/td>\n<\/tr>\n \nTime:\n<\/p>\n<\/td>\n \n8:30 a.m. EST, 5:30 a.m. PST\n<\/p>\n<\/td>\n<\/tr>\n \nToll Free dial-in number:\n<\/p>\n<\/td>\n \n1-844-200-6205\n<\/p>\n<\/td>\n<\/tr>\n \nToll\/International dial-in number:\n<\/p>\n<\/td>\n \n1-929-526-1599\n<\/p>\n<\/td>\n<\/tr>\n \nConference ID:\n<\/p>\n<\/td>\n \n689739\n<\/p>\n<\/td>\n<\/tr>\n \nWebcast:\n<\/p>\n<\/td>\n \nClick here<\/a><\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nPlease dial in 5-10 minutes prior to the start time to register and join.\n<\/p>\n \nThe conference call will be broadcast live and available for replay here<\/a> and via the investor relations section of the company\u2019s website here<\/a>.\n<\/p>\n \nA replay of the call will be available through February 14, 2023, following the conference.\n<\/p>\n \nToll Free Replay Number:\n<\/p>\n<\/td>\n \n1-866-813-9403\n<\/p>\n<\/td>\n<\/tr>\n \nInternational Replay Number:\n<\/p>\n<\/td>\n \n+44 204 525 0658\n<\/p>\n<\/td>\n<\/tr>\n \nReplay ID:\n<\/p>\n<\/td>\n \n195470\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n About Bioceres Crop Solutions Corp.<\/b><\/p>\n \nBioceres Crop Solutions Corp. (NASDAQ: BIOX) is a fully integrated provider of crop productivity technologies designed to enable the transition of agriculture towards carbon neutrality. To do this, Bioceres\u2019 solutions create economic incentives for farmers and other stakeholders to adopt environmentally friendlier production practices. The company has a unique biotech platform with high-impact, patented technologies for seeds and microbial ag-inputs, as well as next generation Crop Nutrition and Protection solutions. Through its HB4\u00ae program, the company is bringing digital solutions to support growers\u2019 decisions and provide end-to-end traceability for production outputs. For more information, visit here<\/a>.\n<\/p>\n Forward-Looking Statements<\/b><\/p>\n \nThis communication includes \u201cforward-looking statements\u201d within the meaning of the \u201csafe harbor\u201d provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as \u201cforecast,\u201d \u201cintend,\u201d \u201cseek,\u201d \u201ctarget,\u201d \u201canticipate,\u201d \u201cbelieve,\u201d \u201cexpect,\u201d \u201cestimate,\u201d \u201cplan,\u201d \u201coutlook,\u201d and \u201cproject\u201d and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements include estimated financial data and, among others, statements related to the expected or potential impact of the novel coronavirus (COVID-19) pandemic, and the related responses by governments, clients and the company, on our business, financial condition, liquidity position and results of operations, and any such forward-looking statements, whether concerning the COVID-19 pandemic or otherwise, involve risks, assumptions and uncertainties. These forward-looking statements include, but are not limited to, whether (i) the health and safety measures implemented to safeguard employees and assure business continuity will be successful, (ii) the uncertainty related to COVID-19 in the farming community will be short lived, and (iii) we will be able to coordinate efforts to ramp up inventories. Such forward-looking statements are based on management\u2019s reasonable current assumptions, expectations, plans and forecasts regarding the company\u2019s current or future results and future business and economic conditions more generally. Such forward-looking statements involve risks, uncertainties and other factors, which may cause the actual results, levels of activity, performance or achievement of the company to be materially different from any future results expressed or implied by such forward-looking statements, and there can be no assurance that actual results will not differ materially from management\u2019s expectations or could affect the company\u2019s ability to achieve its strategic goals, including the uncertainties relating to the impact of COVID-19 on the company\u2019s business, operations, liquidity and financial results and the other factors that are described in the sections entitled \u201cRisk Factors\u201d in the company’s Securities and Exchange Commission filings updated from time to time. The preceding list is not intended to be an exhaustive list of all of our forward-looking statements. Therefore, you should not rely on any of these forward-looking statements as predictions of future events. All forward-looking statements contained in this release are qualified in their entirety by this cautionary statement. Forward-looking statements speak only as of the date they are or were made, and the company does not intend to update or otherwise revise the forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, except as required by law.\n<\/p>\n Unaudited Consolidated Statement of Comprehensive Income<\/b><\/p>\n \n(Figures in U.S. dollars)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n Three-month period Three-month period \nTotal revenue\n<\/p>\n<\/td>\n \n94,410,185\n<\/p>\n<\/td>\n \n92,662,853\n<\/p>\n<\/td>\n<\/tr>\n \nCost of sales\n<\/p>\n<\/td>\n \n(59,138,119)\n<\/p>\n<\/td>\n \n(55,332,989)\n<\/p>\n<\/td>\n<\/tr>\n Gross profit<\/b><\/p>\n<\/td>\n 35,272,066<\/b><\/p>\n<\/td>\n 37,329,864<\/b><\/p>\n<\/td>\n<\/tr>\n % Gross profit<\/i><\/p>\n<\/td>\n 37%<\/i><\/p>\n<\/td>\n 40%<\/i><\/p>\n<\/td>\n<\/tr>\n \nOperating expenses\n<\/p>\n<\/td>\n \n(32,424,008)\n<\/p>\n<\/td>\n \n(20,198,593)\n<\/p>\n<\/td>\n<\/tr>\n \nShare of profit of JV\n<\/p>\n<\/td>\n \n40,048\n<\/p>\n<\/td>\n \n1,141,323\n<\/p>\n<\/td>\n<\/tr>\n \nOther income or expenses, net\n<\/p>\n<\/td>\n \n(669,137)\n<\/p>\n<\/td>\n \n(571,365)\n<\/p>\n<\/td>\n<\/tr>\n Operating profit<\/b><\/p>\n<\/td>\n 2,218,969<\/b><\/p>\n<\/td>\n 17,701,229<\/b><\/p>\n<\/td>\n<\/tr>\n \nFinancial result\n<\/p>\n<\/td>\n \n(9,963,524)\n<\/p>\n<\/td>\n \n(8,221,621)\n<\/p>\n<\/td>\n<\/tr>\n Profit\/(loss) before income tax<\/b><\/p>\n<\/td>\n (7,744,555)<\/b><\/p>\n<\/td>\n 9,479,608<\/b><\/p>\n<\/td>\n<\/tr>\n \nIncome tax\n<\/p>\n<\/td>\n \n(615,529)\n<\/p>\n<\/td>\n \n(4,141,102)\n<\/p>\n<\/td>\n<\/tr>\n Profit\/(loss) for the period<\/b><\/p>\n<\/td>\n (8,360,084)<\/b><\/p>\n<\/td>\n 5,338,506<\/b><\/p>\n<\/td>\n<\/tr>\n \nOther comprehensive profit\/(loss)\n<\/p>\n<\/td>\n \n585,883\n<\/p>\n<\/td>\n \n7,893,351\n<\/p>\n<\/td>\n<\/tr>\n \nTotal comprehensive profit\/(loss)\n<\/p>\n<\/td>\n (7,774,201)<\/b><\/p>\n<\/td>\n 13,231,857<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Profit\/(loss) for the period attributable to:<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nEquity holders of the parent\n<\/p>\n<\/td>\n \n(8,662,197)\n<\/p>\n<\/td>\n \n3,427,093\n<\/p>\n<\/td>\n<\/tr>\n \nNon-controlling interests\n<\/p>\n<\/td>\n \n(550,212)\n<\/p>\n<\/td>\n \n3,427,093\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n(9,212,409)\n<\/p>\n<\/td>\n \n6,854,186\n<\/p>\n<\/td>\n<\/tr>\n Total comprehensive profit\/(loss) attributable to:<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nEquity holders of the parent\n<\/p>\n<\/td>\n \n(8,285,010)\n<\/p>\n<\/td>\n \n3,427,093\n<\/p>\n<\/td>\n<\/tr>\n \nNon-controlling interests\n<\/p>\n<\/td>\n \n(341,516)\n<\/p>\n<\/td>\n \n3,157,855\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n(8,626,526)\n<\/p>\n<\/td>\n \n6,584,948\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Weighted average number of shares<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nBasic\n<\/p>\n<\/td>\n \n62,710,957\n<\/p>\n<\/td>\n \n41,104,331\n<\/p>\n<\/td>\n<\/tr>\n \nDiluted\n<\/p>\n<\/td>\n \n62,710,957\n<\/p>\n<\/td>\n \n42,403,196\n<\/p>\n<\/td>\n<\/tr>\n Unaudited Consolidated Statement of Financial Position<\/b><\/p>\n \n(Figures in U.S. dollars)\n<\/p>\n<\/td>\n<\/tr>\n ASSETS<\/b><\/p>\n<\/td>\n 12\/31\/2022<\/b><\/p>\n<\/td>\n 06\/30\/2022<\/b><\/p>\n<\/td>\n<\/tr>\n CURRENT ASSETS<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nCash and cash equivalents\n<\/p>\n<\/td>\n \n68,550,022\n<\/p>\n<\/td>\n \n33,475,266\n<\/p>\n<\/td>\n<\/tr>\n \nOther financial assets\n<\/p>\n<\/td>\n \n18,882,388\n<\/p>\n<\/td>\n \n5,401,133\n<\/p>\n<\/td>\n<\/tr>\n \nTrade receivables\n<\/p>\n<\/td>\n \n178,230,222\n<\/p>\n<\/td>\n \n111,752,310\n<\/p>\n<\/td>\n<\/tr>\n \nOther receivables\n<\/p>\n<\/td>\n \n25,653,800\n<\/p>\n<\/td>\n \n19,327,584\n<\/p>\n<\/td>\n<\/tr>\n \nIncome and minimum presumed income taxes recoverable\n<\/p>\n<\/td>\n \n1,674,314\n<\/p>\n<\/td>\n \n1,647,398\n<\/p>\n<\/td>\n<\/tr>\n \nInventories\n<\/p>\n<\/td>\n \n157,647,583\n<\/p>\n<\/td>\n \n126,044,122\n<\/p>\n<\/td>\n<\/tr>\n \nBiological assets\n<\/p>\n<\/td>\n \n581,100\n<\/p>\n<\/td>\n \n57,313\n<\/p>\n<\/td>\n<\/tr>\n Total current assets<\/b><\/p>\n<\/td>\n 451,219,429<\/b><\/p>\n<\/td>\n 297,705,126<\/b><\/p>\n<\/td>\n<\/tr>\n NON-CURRENT ASSETS<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nOther financial assets\n<\/p>\n<\/td>\n \n1,104,718\n<\/p>\n<\/td>\n \n619,841\n<\/p>\n<\/td>\n<\/tr>\n \nTrade receivables\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n200,412\n<\/p>\n<\/td>\n<\/tr>\n \nOther receivables\n<\/p>\n<\/td>\n \n3,173,261\n<\/p>\n<\/td>\n \n2,254,199\n<\/p>\n<\/td>\n<\/tr>\n \nIncome and minimum presumed income taxes recoverable\n<\/p>\n<\/td>\n \n18,465\n<\/p>\n<\/td>\n \n44,412\n<\/p>\n<\/td>\n<\/tr>\n \nDeferred tax assets\n<\/p>\n<\/td>\n \n4,619,306\n<\/p>\n<\/td>\n \n4,011,374\n<\/p>\n<\/td>\n<\/tr>\n \nInvestments in joint ventures and associates\n<\/p>\n<\/td>\n \n38,810,692\n<\/p>\n<\/td>\n \n38,554,092\n<\/p>\n<\/td>\n<\/tr>\n \nProperty, plant and equipment\n<\/p>\n<\/td>\n \n63,794,675\n<\/p>\n<\/td>\n \n49,908,325\n<\/p>\n<\/td>\n<\/tr>\n \nIntangible assets\n<\/p>\n<\/td>\n \n174,412,251\n<\/p>\n<\/td>\n \n76,704,869\n<\/p>\n<\/td>\n<\/tr>\n \nGoodwill\n<\/p>\n<\/td>\n \n122,532,487\n<\/p>\n<\/td>\n \n36,073,685\n<\/p>\n<\/td>\n<\/tr>\n \nRight-of-use leased asset\n<\/p>\n<\/td>\n \n13,164,994\n<\/p>\n<\/td>\n \n12,144,026\n<\/p>\n<\/td>\n<\/tr>\n Total non-current assets<\/b><\/p>\n<\/td>\n 421,630,849<\/b><\/p>\n<\/td>\n 220,515,235<\/b><\/p>\n<\/td>\n<\/tr>\n Total assets<\/b><\/p>\n<\/td>\n 872,850,278<\/b><\/p>\n<\/td>\n 518,220,361<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n LIABILITIES<\/b><\/p>\n<\/td>\n 12\/31\/2022<\/b><\/p>\n<\/td>\n 06\/30\/2022<\/b><\/p>\n<\/td>\n<\/tr>\n CURRENT LIABILITIES<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nTrade and other payables\n<\/p>\n<\/td>\n \n160,017,912\n<\/p>\n<\/td>\n \n125,849,620\n<\/p>\n<\/td>\n<\/tr>\n \nBorrowings\n<\/p>\n<\/td>\n \n105,462,623\n<\/p>\n<\/td>\n \n71,301,468\n<\/p>\n<\/td>\n<\/tr>\n \nEmployee benefits and social security\n<\/p>\n<\/td>\n \n9,867,633\n<\/p>\n<\/td>\n \n7,619,121\n<\/p>\n<\/td>\n<\/tr>\n \nDeferred revenue and advances from customers\n<\/p>\n<\/td>\n \n61,233,268\n<\/p>\n<\/td>\n \n5,895,313\n<\/p>\n<\/td>\n<\/tr>\n \nIncome tax payable\n<\/p>\n<\/td>\n \n1,012,347\n<\/p>\n<\/td>\n \n7,538,764\n<\/p>\n<\/td>\n<\/tr>\n \nConsideration for acquisition\n<\/p>\n<\/td>\n \n1,943,216\n<\/p>\n<\/td>\n \n3,048,562\n<\/p>\n<\/td>\n<\/tr>\n \nLease liabilities\n<\/p>\n<\/td>\n \n3,007,806\n<\/p>\n<\/td>\n \n1,412,904\n<\/p>\n<\/td>\n<\/tr>\n Total current liabilities<\/b><\/p>\n<\/td>\n 342,544,805<\/b><\/p>\n<\/td>\n 222,665,752<\/b><\/p>\n<\/td>\n<\/tr>\n NON-CURRENT LIABILITIES<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nTrade and other payables\n<\/p>\n<\/td>\n \n810,921\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n<\/tr>\n \nBorrowings\n<\/p>\n<\/td>\n \n79,109,119\n<\/p>\n<\/td>\n \n74,177,169\n<\/p>\n<\/td>\n<\/tr>\n \nInvestments in joint ventures and associates\n<\/p>\n<\/td>\n \n122,059\n<\/p>\n<\/td>\n \n717,948\n<\/p>\n<\/td>\n<\/tr>\n \nDeferred tax liabilities\n<\/p>\n<\/td>\n \n46,130,828\n<\/p>\n<\/td>\n \n29,005,943\n<\/p>\n<\/td>\n<\/tr>\n \nProvisions\n<\/p>\n<\/td>\n \n5,543,219\n<\/p>\n<\/td>\n \n603,022\n<\/p>\n<\/td>\n<\/tr>\n \nConsideration for acquisitions\n<\/p>\n<\/td>\n \n8,467,428\n<\/p>\n<\/td>\n \n9,854,228\n<\/p>\n<\/td>\n<\/tr>\n \nConvertible notes\n<\/p>\n<\/td>\n \n72,558,213\n<\/p>\n<\/td>\n \n12,559,071\n<\/p>\n<\/td>\n<\/tr>\n \nLease liability\n<\/p>\n<\/td>\n \n10,880,795\n<\/p>\n<\/td>\n \n10,338,380\n<\/p>\n<\/td>\n<\/tr>\n Total non-current liabilities<\/b><\/p>\n<\/td>\n 223,622,582<\/b><\/p>\n<\/td>\n 137,255,761<\/b><\/p>\n<\/td>\n<\/tr>\n Total liabilities<\/b><\/p>\n<\/td>\n 566,167,387<\/b><\/p>\n<\/td>\n 359,921,513<\/b><\/p>\n<\/td>\n<\/tr>\n EQUITY<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \nEquity attributable to owners of the parent\n<\/p>\n<\/td>\n \n272,692,323\n<\/p>\n<\/td>\n \n127,358,573\n<\/p>\n<\/td>\n<\/tr>\n \nNon-controlling interests\n<\/p>\n<\/td>\n \n33,990,568\n<\/p>\n<\/td>\n \n30,940,275\n<\/p>\n<\/td>\n<\/tr>\n Total equity<\/b><\/p>\n<\/td>\n 306,682,891<\/b><\/p>\n<\/td>\n 158,298,848<\/b><\/p>\n<\/td>\n<\/tr>\n Total equity and liabilities<\/b><\/p>\n<\/td>\n 872,850,278<\/b><\/p>\n<\/td>\n 518,220,361<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u00a0\n<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230208006033\/en\/<\/a><\/span><\/p>\n\n
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<\/b>(In millions of U.S. dollars, unless where otherwise stated)\n<\/p>\n\n
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<\/b>Pro forma1<\/sup><\/b><\/p>\n<\/td>\n\n \n \n
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<\/b>Pro forma1<\/sup><\/b><\/p>\n<\/td>\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
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<\/b>Pro forma1<\/sup><\/b><\/p>\n<\/td>\n\n \n \n
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<\/b>Pro forma1<\/sup><\/b><\/p>\n<\/td>\n\n \n \n \n \n \n \n \n \n \n \n
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\n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n
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ended 12\/31\/2022<\/b><\/p>\n<\/td>\n\n
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ended 12\/31\/2021<\/b><\/p>\n<\/td>\n<\/tr>\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n
\n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/p>\n