AGI Releases 2024 Sustainability Report

WINNIPEG, Manitoba--(BUSINESS WIRE)--Ag Growth International Inc. (TSX: AFN) (“AGI”, the “Company”, “we”, or “our”) today released its 2024 Sustainability Report.

The report highlights AGI’s recent performance and achievements across a range of sustainability-related topics.

“I am pleased to present our 2024 Sustainability Report, which showcases our recent achievements in sustainability, including our unwavering commitment to global food security, record safety performance, and progress in reducing greenhouse gas emissions intensity,” commented Paul Householder, President & CEO of AGI. “I am inspired by the dedication and efforts of our global workforce to advance our sustainability strategy and related goals. Over the past year, we have made measurable progress in reducing our environmental impact, fostering a safe and inclusive culture, and upholding the highest standards of governance and ethics. By driving these initiatives forward, we are enhancing the long-term resilience of our business.”

Highlights from the report include progress on employee safety, greenhouse gas (GHG) emissions, and employee engagement, among others. Key highlights include:

• Details of AGI’s contribution to support global food security
• Significant improvements in safety performance, with a reduction in our Lost Time Incident Rate¹ by 46% and in our Total Recordable Incident Rate² by 49% from 2023 levels
• Reduced our Scope 1 and 2 greenhouse gas (GHG) emissions intensity by 16%, on track to achieve our target of reducing intensity by 25% by 2030
• Achieved 100% compliance on AGI’s annual employee ethics confirmation in 2024
• Over 96% of our global workforce completed training on unconscious bias

The full 2024 Sustainability Report is available on AGI’s website here.

AGI Company Profile

AGI is a provider of the equipment and solutions required to support the efficient storage, transport, and processing of food globally. AGI has manufacturing facilities in Canada, the United States, Brazil, India, France, and Italy and distributes its product worldwide.

Forward-Looking Information:

This document contains certain forward-looking information. More particularly and without limitation, this document contains forward-looking information regarding AGI's target to reduce our Scope 1 and 2 GHG emissions intensity by 25% by 2030, compared to our 2021 baseline. This forward-looking information is based on a number of factors and assumptions which have been used to develop such information including, among other things: our ability to continue to implement and the success of our sustainability programs, the timing thereof and the impact on AGI achieving its goals and targets relating thereto; our ability to improve the energy intensity of our manufacturing operations; our ability to manage and reduce our energy consumption; our ability to reduce GHG emissions and GHG emissions intensity; the availability of the capital, labour and services required to successfully implement our sustainability programs on the timetable anticipated and to achieve our related goals; the cost to implement and maintain our sustainability programs; our ability to successfully partner with third parties to implement our sustainability programs; the availability of renewable energy such as solar in the areas that we operate; our ability to successfully advance and/or implement technology and innovation into our operations; and the sufficiency of budgeted capital expenditures in carrying out planned sustainability activities. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which have been used. Although AGI believes that the factors and assumptions on which the forward-looking information are based are reasonable, undue reliance should not be placed on the forward-looking information because AGI can give no assurance that they will prove to be correct. Since forward-looking information addresses future events and conditions, by its very nature it involves inherent risks and uncertainties, most of which are beyond our control. Actual results could differ materially from those currently anticipated due to a number of risks and uncertainties. These risks and uncertainties include, but are not limited to: the risk that we are unable to implement our sustainability programs in part or in full and/or on the anticipated timetable and/or that they are not successful in accomplishing our sustainability goals; the risk that we are unable to improve the energy intensity of our manufacturing operations materially or at all; the risk that we are unable to reduce our energy consumption materially or at all; the risk that we are unable to reduce GHG emissions and/or GHG emissions intensity materially or at all; the risk that the capital, labour and/or services required to successfully implement our sustainability programs are not available in part or at all and that as a result we are unable to achieve our sustainability goals on the anticipated timetable or at all; the risk that the cost to implement and maintain our sustainability programs is higher than currently anticipated or subsequently increases such that the implementation and/or maintenance of one or more of such sustainability programs becomes uneconomic; the risk that we determine to allocate our financial, managerial and/or operational resources to priorities other than the achievement of our sustainability goals due to factors outside of our control or otherwise; the risk that we may not be able to successfully partner with third parties to implement our sustainability programs; and the risk that suitable sources of renewable energy such as solar may not be available in certain areas in which we operate or at all. Readers are cautioned that the foregoing lists of risks and uncertainties is not exhaustive. This forward-looking information are made as of the date of this document and AGI disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. The forward-looking information contained in this document is expressly qualified by this cautionary statement.

¹ "Lost Time Incident Rate" is calculated in line with U.S. Occupational Safety and Health Administration (OSHA) standards using the formula: ([number of lost time injuries in the reporting period] x 200,000) / (total hours worked in the reporting period); this metric references the number of lost time injuries per 100 employees per year, assuming a 40-hour work week and 50 weeks worked.

² "Total Recordable Incident Rate" is calculated in line with OSHA standards using the formula: (Number of OSHA recordable incidents in the reporting period) x 200,000 / (total number of hours worked in the reporting period); this metric references the number of recordable incidents per 100 full-time employees annually.