6. Employee early retirement expenses: Provision for early retirement plan 
      of employees at the Company's Israeli manufacturing sites. 
   7. Provisions in tax expenses related to prior years' activities: Provisions 
      in respect of tax expenses related to activities of prior years. 
   8. Capital gain recognized on acquisition of control of an equity investee: 
      On 1 July 2020, the Company acquired the remaining 51% stake in Alfa 
      Agricultural Supplies, S.A., and in so doing, gained control over the 
      company which previously was accounted for as an equity investee. As a 
      result of the change of consolidation scope, the Company recognized a 
      one-time, non-cash, capital gain. 
   9. Non-core assets impairment: One-time, non-cash charge due to closure or 
      impairment of peripheral, non-material assets 
  10. Revaluation of non-cash adjustment related to non-controlling interest: 
      Relates to put options issued to non-controlling interests as part of 
      historical business combinations which took place before January 1, 2010. 
      The put options are presented as a liability at the present value of the 
      future exercise price. The revaluation of these put options in Solutions 
      is recognized under IFRS to Goodwill, but due to the acquisition of 
      Solutions by the Company in 2017, which is treated from an accounting 
      perspective as a "Business Combination Under Common Control", such 
      revaluation is recorded as a profit or loss item in the financial reports 
      of the Company. The revaluations of such put options have no bearing on 
      the ongoing performance of the Company and are therefore removed from the 
      Adjusted performance figures. 

Exchange Rate Data for the Company's Principal Functional Currencies

          Sept 30                  Q3 Average               9M Average 
          2021    2020    Change   2021    2020    Change   2021    2020    Change 
EUR/USD   1.157   1.170   -1.11%   1.179   1.169   0.91%    1.198   1.123   6.74% 
USD/BRL   5.439   5.641   3.57%    5.229   5.380   2.81%    5.323   5.076   -4.87% 
USD/PLN   3.993   3.866   -3.28%   3.873   3.802   -1.86%   3.793   3.939   3.73% 
USD/ZAR   15.060  16.920  10.99%   14.628  16.914  13.51%   14.460  16.747  13.66% 
AUD/USD   0.719   0.712   1.08%    0.735   0.655   12.26%   0.761   0.675   12.84% 
GBP/USD   1.344   1.282   4.84%    1.379   1.241   11.13%   1.388   1.270   9.27% 
USD/ILS   3.229   3.441   6.16%    3.234   3.418   5.39%    3.259   3.477   6.28% 
USD 
 LIBOR 
 3M       0.13%   0.23%   -44.38%  0.13%   0.25%   -50.12%  0.16%   0.80%   -79.79% 
          Sept 30               Q3 Average            9M Average 
          2021   2020   Change  2021   2020   Change  2021   2020   Change 
USD/RMB   6.485  6.810  -4.77%  6.470  6.919  -6.49%  6.470  6.993  -7.47% 
EUR/RMB   7.504  7.967  -5.82%  7.630  8.086  -5.64%  7.749  7.850  -1.28% 
RMB/BRL   0.839  0.828  -1.26%  0.808  0.778  -3.94%  0.824  0.726  -13.55% 
RMB/PLN   0.616  0.568  -8.45%  0.599  0.549  -8.93%  0.586  0.563  -4.10% 
RMB/ZAR   2.322  2.485  6.54%   2.261  2.444  7.51%   2.236  2.395  6.64% 
AUD/RMB   4.664  4.845  -3.74%  4.755  4.948  -3.90%  4.909  4.718  4.05% 
GBP/RMB   8.716  8.729  -0.16%  8.921  8.935  -0.16%  8.976  8.883  1.06% 
RMB/ILS   0.498  0.492  -1.14%  0.500  0.494  -1.18%  0.504  0.497  -1.34% 
RMB 
 LIBOR 
 3M       2.43%  2.69%  -9.66%  2.39%  2.53%  -5.87%  2.54%  2.22%  14.14% 

[1] For an analysis of the differences between the adjusted income statement items and the income statement items as reported in the financial statements, see below "Analysis of Gaps between Adjusted Income Statement and Income Statement in Financial Statements".

([2]) The number of shares used to calculate both basic and diluted earnings per share in Q3 and 9M 2020 is 2,378.3 million shares and 2,423.8 million shares, respectively. The number of shares used to calculate both basic and diluted earnings per share in Q3 and 9M 2021 is 2,329.8 million shares, reflecting the repurchase and cancellation of 102.4 million shares from CNAC in July 2020 and repurchase and cancellation of 14.3 million B shares during the second half of 2020.

[3] For an analysis of the differences between the adjusted income statement items and the income statement items as reported in the financial statements, see below "Analysis of Gaps between Adjusted Income Statement and Income Statement in Financial Statements".

([4]) The number of shares used to calculate both basic and diluted earnings per share in Q3 and 9M 2020 is 2,378.3 million shares and 2,423.8 million shares, respectively. The number of shares used to calculate both basic and diluted earnings per share in Q3 and 9M 2021 is 2,329.8 million shares, reflecting the repurchase and cancellation of 102.4 million shares from CNAC in July 2020 and repurchase and cancellation of 14.3 million B shares during the second half of 2020.

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SOURCE ADAMA Ltd.

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