NEWS

Ceres Global Ag Reports Financial Results for q3 FY2017 Volumes up 72% and EBITDA of $1.6 million

Minneapolis, MN, (May 11, 2017) – Ceres Global Ag Corp. (TSX: CRP) (“Ceres” or the “Corporation”) today announced its financial and operational results for the three- and nine-month periods ended March 31, 2017. All amounts are in U.S. currency unless otherwise noted.

CEO Commentary

“Despite seasonal weather limiting the number of bushels handled through our network of facilities as a result of freezing in the Great Lakes and Mississippi River, we continued to improve across key financial and operational metrics in Q3 vs. a year ago,” said Robert Day, President and CEO of Ceres “Most notably, we achieved gross profits of $3.0 million, EBITDA of $1.6 million and we increased the total number of bushels handled and merchandized by 72%, putting us on track to meet our target of 110 million bushels for the year. It is also worth noting that the comparative quarter from a year ago included a one-time commission from the prior sale of an asset of $1.5 million that was not part of the day to day operations. Removing that, our gross profit more than doubled vs. the same quarter a year ago.”

Mr. Day added, “Consistent with our strategy to optimize our network of facilities, we recorded an asset impairment charge of $7.7 million forthe idled Buffalo and Duluth-Lakeport facilities, negatively impacting our bottom-line performance. This will lower costs on a go forward basis by approximately $1.2 million per annum, which strengthens our competitive positioning.”

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