Investor Presentaiton

Key Findings from focus group discussion with PMEAs¹ Objectives • Duration Participants • Collect feedback on PMEAs' experience with current machinery Understand their decision- making process 3 hours 6 PMEAs/contractors • 3 to 20 years of experience Dealers of farming and processing machinery (including one who also provides service to farmers) • Located in the North and West of Côte d'Ivoire Rice Farming Machinery While Japanese brands are perceived as durable, the lack of a broad and reliable spare parts supply network and higher purchasing price compared to Chinese machines create a challenge 1 PMEAs/contractors using Japanese machines perceive it as high quality, but find it difficult to acquire spare parts in time and perceive Japanese machines as more expensive 2 3 Most signaled the need to often go to Abidjan to acquire spare parts PMEAs indicated no explicit lower quality perception for Chinese machinery PMEAs highlighted the ease of finding spare parts for Chinese machinery, and the lower initial cost of Chinese machines (relative to Japanese machines) All highlighted challenges in educating farmers for appropriate usage and maintenance Frequent breakdown occur due to inappropriate basic maintenance (e.g., wrong. quantity of oil, maintenance at infrequent intervals) Brands of sold equipment 5 dealers sell Chinese brands 1 dealer sells multiple brands including one Japanese Tractors, threshers, tillers and respective spare parts Farming Equipment Processing Equipment Sheller and miller Imperative for farming machinery suppliers to: • Build an effective spare parts supply network Partner with training facilities and/or local technology companies (e.g., 12T - Ivoirian Institute of Tropical Technology) to provide timely maintenance service 1. PMEA Small and Medium Agricultural Enterprise ― 65 65

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