Investor Presentaiton

JICA Backup Cashew processing Cashew nut value chain: International trading players active in the market, while local processing is led by Olam Small scale farmers 761,000 tons produced in 2018 ~330,000 farmers Source: Asoko Insight; BCG Analysis Cooperatives/Middlemen Local processors 9% Key Processors processed locally Nord SOBERY Cajou Cajou assou Olam Some locally AFRICAJOU AFRICA FMA processed cashew exported 91% exported raw Accredited exporter / Cooperatives and trading companies Key traders ETG$ Olam ECOM Main export markets for raw cashew nuts -56% -28% 1% Non-exhaustive Local retailers / Supermarkets 90 90

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