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FOOD INDUSTRY IN HUNGARY HUNGARY SMART. AMBITIOUS. COMPETITIVE. Food Industry in Hungary FOOD INDUSTRY 4 CONTENT 6 ABOUT HUNGARY 14 FOOD INDUSTRY IN HUNGARY 26 LABOUR FORCE 32 LOCATION 42 HUNGARIAN INVESTMENT PROMOTION AGENCY (HIPA) 5 Published by the Hungarian Investment Promotion Agency, HIPA All rights reserved HIPA, 2018 www.hipahu Food Industry in Hungary 7 ABOUT HUNGARY MAIN FIGURES FORM OF GOVERNMENT PARLIAMENTARY REPUBLIC AREA 93,023 m 2 CURRENCY FORINT (HUF) GDP (PPS) EUR 192,855 MILLION GDP GROWTH 4.0% (2017, HCSO) (2016, HCSO) TIME ZONE GMT + 1 HOUR INFLATION 2.4% (2017, HCSO) HUNGARY OTHER MAJOR CITIES POPULATION POPULATION 9,797,561 (2017, HCSO) CAPITAL BUDAPEST POPULATION 1,752,704 (2017, HCSO) Debrecen (201,981) Szeged (161,137) Miskolc (157,177) Pécs (144,675) Győr (129,301) CLIMATE TEMPERATE (similar to the rest of the continental zone) MEMBERSHIP IN INTERNATIONAL ORGANISATIONS EU, UN, OECD, WTO, NATO, IMF, EC EU member

since 2004 RISK OF NATURAL DISASTERS VERY LOW (Source: HCSO = Hungarian Central Statistical Office) Food Industry in Hungary ABOUT HUNGARY 9 H FDI IN FOCUS ungary is an open economy where particular emphasis is placed on encouraging foreign direct investment (FDI). Partnership with potential investors is a national priority; special attention is paid to the needs of companies already settled in Hungary, and to the further improvement of the business climate. YOU CAN COUNT ON THE GOVERNMENT’S COMMITMENT TO FURTHER IMPROVE THE BUSINESS CLIMATE 66% 62% 51% 40% HUNGARY CZECH REPUBLIC SLOVAKIA POLAND 32% SLOVENIA Inward FDI stock amounted to 66% of the GDP (2016) the highest ratio in the region. Source: wiiw FDI Database Food Industry in Hungary ABOUT HUNGARY .has modified its taxation and incentive system related to R&D activities to make Hungary the innovation hub of CEE. BUSINESS ENVIRONMENT INVESTMENTS IN FOCUS 11 .offers companies a strategic

partnership, and provides them with fast access to the Government. is committed to further reduce taxes on employment. IN ORDER TO IMPROVE THE BUSINESS CLIMATE THE HUNGARIAN GOVERNMENT. .is helping companies to function reliably by providing a clear agenda on economic development and FDI strategy. .further improved the practice-based dual education system built on industry needs. .has introduced a new incentive scheme supporting technology intensive investments. .has created the most competitive CIT in the EU with 9% flat rate. .has introduced its unique economic development plan based on Industry 4.0 requirements. Food Industry in Hungary ABOUT HUNGARY QUALITY OF LIFE HUNGARIAN PARLIAMENT BUILDING ranked 10th in worlds top 10 landmarks for 2018 by TripAdvisor 13 EXPLORE THE COUNTRYSIDE Hungary’s diverse countryside offers a wide range of outdoor activities: 11,000 kilometres of hiking routes; more than 4,000 kilometres of cycle paths; 14 golf courses; 10 national

parks; and many protected nature reserves for those in love with fresh air. The protected Pusztaregion, the Great Plain, the romantic Danube Bend with its historic sites, and pretty baroque towns, such as Eger, attract visitors all over the year. Lake Balaton, the largest fresh water lake in Central Europe, is a perfect holiday resort. HUNGARY ranked among the 5 TOP COUNTRIES in the BOCUSE DOR competition in 2017 INTERNATIONAL SCHOOLS Expatriates looking to stick with the curricula of their home countries can choose from a range of private international schools for their children. There are also many English, German or French public and private preschools for children aged from three to six. The school year starts in September and ends in June, and school buses are usually available at private schools. There are many opportunities to study in a foreign language at universities too. GASTRO STORY The dining scene in Budapest is livelier than ever, practically you can find the

cuisines of every culture in the capital, from high-end Michelin-star restaurants to no-frill eateries, small bistros and must-try food trucks. EXPATS LIKE HUNGARY Budapest is a city full of surprises and wonders, with its lively centre, pretty parks, majestic river, tall church spires, and lavish spas. One of the most exciting cities in the world, Budapest is full of secrets, hidden spots to explore, and old favourites to revisit. This is the city where being bored is not an option. Did you know that the kindergarten and the elementary school division of the International School of Debrecen will start to operate in September 2019 and its upper school education starts running from September 2020? Food Industry in Hungary FOOD INDUSTRY IN HUNGARY 100% GMO-FREE INGREDIENTS Keeping Hungarian agriculture GMO-free is a matter of extremely high strategic importance. The total abolition of the utilization of GMO in the country’s agriculture represents an ever-increasing competitive

advantage for Hungary. The ban on GMO is laid down in the country’s Constitution and in the corresponding legislation. All parliamentary parties have worked together to formulate Hungary’s GMO-free strategy and the process of implementation aimed at its realisation in complete agreement. Johann Marihart CEO, AGRANA "AGRANA has substantial and successful affiliated companies in Hungary, since 1990 at Hungrana, since 1991 at the sugar factory Magyar Cukor in Kaposvar, and since 2002 at four apple juice concentrate plants. All of our investments are characterized by considerable growth over the years. Due to the strategic importance of this region AGRANA stood and stands clear to its investments in Hungary and does not intend to change that.” 15 Food Industry in Hungary FOOD INDUSTRY IN HUNGARY HUNGARY QUALITY INGREDIENTS ARE AVAILABLE ON A LARGE SCALE is a major producer of numerous agricultural products in Europe – especially compared to the country’s size.

GRAIN MAIZE AND CORN-COB-MIX (total production, thousand tons) 14,498 1700 1116 533 SLOVAKIA CZECH REPUBLIC 2076 CROATIA 2450 AUSTRIA Among the TOP3 crop producers of the CEE region WHEAT AND SPELT (total production, thousand tons) 116 51 46 5 Source: EUROSTAT, 2017 233 0 POLAND 679 CZECH REPUBLIC SLOVAKIA CZECH REPUBLIC HUNGARY BULGARIA 0 1000 AUSTRIA 1443 1860 SLOVAKIA 1831 ROMANIA 1 870 2000 BULGARIA 5000 5 237 4649 ROMANIA 5801 CROATIA 3000 CROATIA 10,000 3180 9785 AUSTRIA 11,568 SUNFLOWER SEED (total production, thousand tons) HUNGARY HUNGARY ROMANIA 0 POLAND 3943 5000 BULGARIA 6 757 POLAND Eurostat, 2017 (As of Eurostat data available on 21 March 2018 / 31 January 2018) http://ec.europaeu/eurostat/tgm/refreshTableActiondo?tab=table&plugin=1&pcode=tag00047&language=en Source: EUROSTAT, 2017 10,000 17 Food Industry in Hungary YOU CAN FOOD INDUSTRY T COUNT ON HIGH QUALITY RAW MATERIALS FRUIT PRODUCTION

(thousand tons) 2013 2014 2015 2016 592 70 48 44 21 190 22 780 92 45 39 23 219 12 511 77 46 37 20 196 16 497 74 48 40 24 185 20 1500 1000 1040 778 755 2015 2016 500 2013 VEGETABLE PRODUCTION (thousand tons) Potato Tomato Sweet pepper Green peas Carrot Onion White cabbage Sugarbeet* 850 Source: HCSO Apple Sour cherry Plum and greengage Peach Apricot Watermelon* Honeydew melon* ALL GATHERED FRUITS (thousand tons) 2014 ALL GATHERED VEGETABLES (thousand tons) 2013 2014 2015 2016 478 136 77 68 67 60 67 991 567 153 84 88 84 62 60 1067 452 200 116 95 78 60 65 911 429 173 137 111 91 62 53 1121 2000 1500 1441 1514 1601 1626 2015 2016 Source: HCSO *Note that watermelon and honeydew melon are listed as vegetables in the statistical tables of HCSO. Therefore they are not counted in the „All gathered fruits” diagram, but the „All gathered vegetables” diagram. *Note that sugarbeet is excluded from the fruits and vegetables tables of HCSO therefore it

is not counted in the „All gathered fruits” nor in the „All gathered vegetables” diagram. IN HUNGARY he natural characteristics of the CARPATHIAN BASIN – climatic conditions and soil – establish the large scale production of high quality raw materials for the food industry. 1000 500 2013 2014 19 Food Industry in Hungary 21 FOOD INDUSTRY IN HUNGARY T he geographical fragmentation and wide range of climatic conditions within the country constitute a source of diversity of production and establish a rich choice for processing. RAW COW MILK PRODUCTION (million liter) 2000 1726 1826 1890 1868 2014 2015 2016 1500 Source: HCSO 1000 2013 POULTRY STOCK (thousand pieces) 37,900 38,599 40,334 40,185 2013 2014 2015 2016 Source: HCSO 50,000 30,000 15,000 YOU CAN FOOD INDUSTRY MOST RELEVANT SEGMENTS OF THE HUNGARIAN FOOD INDUSTRY 1 2 * Please note that due to lack of available data on beverages sector in the UK and the Czech Republic, the graph

incorporates only the food segment for this two countries. Source: HCSO FATS Statistics, Manufacture of food products and beverages 2015 mineral water, soft drinks, alcoholic and other beverages 3 4 pet food and feed production milk processing, dairy products 23 COUNT ON THE HUNGARIAN FOOD INDUSTRYS EXPERIENCE IN HUNGARY meat processing and preserving Food Industry in Hungary 5 sweets, snacks, convenience and other foods 6 fruit and vegetable processing and preserving DISTRIBUTION OF THE PRODUCTION VALUE OF FOREIGN AFFILIATES IN THE HUNGARIAN FOOD SECTOR BY CONTROLLING COUNTRY, 2015 3 7 3 % Belgium 2 % UK* 3 % Other countries 22 % Czech Republic* % Switzerland % Italy Regina Kuzmina Managing Director Unilever Hungary Ltd. 7 % Netherlands 8 % France 18 % USA 9 % Germany 17 % Austria “The country’s superb geographical location, skilled workforce and qualified professionals all contribute to the prosperous operation of the Budapest HQ and the

three factories creating 1,550 workplaces. Our company considers Hungary to be one of its strategic production centres, and throughout the past 27 years, we carried out significant investments in the country.” Food Industry in Hungary MAJOR FOOD INDUSTRY COMPANIES BY LOCATION IN THE MOST IMPORTANT BRANCHES Sopron HEINEKEN Szikszó HELL ENERGY Érsekvadkert AGRANA Pilisvörösvár SZAMOS Dunakeszi SCITEC NUTRITION Szerencs NESTLÉ Eger EGERTEJ HESI DETKI Bicske SPAR Bük NESTLÉ Beverages Pet food and feed Dunaharaszti COCA-COLA Székesfehérvár SzalkszentALFÖLDI TEJ márton MONDELEZ AGROFEED Zalaszentgrót SzabadCOCA-COLA egyháza Siófok AGRANA SIÓ-ECKES Foktő Dombóvár Szekszárd GLENCORE PARTNER IN TOLNATEJ Marcali PET FOOD Csávoly SOLE-MIZO MOGYI Alsómocsolád PICK Kaposvár Baja AGRANA Mohács PICK KOMÉTA MCS CARGILL Pécs BAT Bőcs MOLSONCOORS Tiszafüred LACTALIS Albertirsa MIRELITE MIRSA Pápa Sárvár Veszprém PÁPAI HÚS SÁGA FOODS HARIBO

UNILEVER Meat processing Kőröstetétlen KŐRÖSTEJ Nagykőrös BONDUELLE Fruit, vegetable and grain processing Tobacco Bácsbokod SOLE-MIZO Kiskunfélegyháza PINI GROUP KUNSAGI EDEN Röszke UNILEVER Kiskunhalas HUNENT Szeged PICK SOLE-MIZO Nyírszőlős BONDUELLE Makó GIVAUDAN Mátészalka FRIESLAND CAMPINA Nyírmada RAUCH Nyírlugos AGROSPRINT Hajdúsámson AGRANA Debrecen TRANZIT-FOOD ALFÖLDI TEJ POPZ Karcag CARGILL AGROSPRINT Martfű BUNGE Szarvas Csongrád GALLICOOP Kecskemét MARS UNIVER GALLFOOD Szentes FORNETTI HUNGERIT Milk processing Sweets, snacks and convenience food Vásárosnamény AGRANA Miskolc NESTLÉ Győr HAAS INTERSNACK MONDELEZ Csorna SOLE-MIZO Kisvárda MASTER GOOD Gyál EISBERG Budapest DREHER RAUCH ZWACK Jánossomorja HAAS DR. OETKER Sátoraljaújhely CONTINENTAL 25 Békéscsaba BONDUELLE Food Industry in Hungary YOU CAN LABOUR FORCE PRODUCTIVITY RELY ON GLOBALLY ACKNOWLEDGED HUMAN CAPITAL AT A COMPETITIVE COST AVERAGE

GROSS EARNINGS IN 2016 (EUR/MONTH/PERSON*) 1944 Manufacturing and mining manager 842 Food industry technician 1175 Food industry engineer 594 Butcher 594 Baker, confectioner 1352 Chemical engineer 717 Food and beverage products machine operator Source: National Labour Office - HUF/EUR=309.9 *The wages are dependent on the region, on the skills and on the experience of the employees. 1381 Chemist 674 Packaging, bottling, and labelling machine operator Minas Agelidis General Manager Coca-Cola HBC Hungary “Excellent people in an excellent business destination this is what Hungary means to our company. We are committed to Hungary since 1968 having invested more than HUF 120 billion only in the last two decades in our production capabilities. The production, transportation and sales of our drinks – including our employees– provide jobs for nearly 13,000 people and two-thirds of the raw materials used for the production of beverages are provided by local suppliers. We

export products to 25 countries so Hungary has become a major regional hub in the CocaCola Hellenic group. And we are determined to go even further" 27 Food Industry in Hungary 29 LABOUR FORCE EDUCATION 10 INSTITUTIONS OF HIGHER EDUCATION are engaged in food industry related programs. Several additional universities provide agriculture, biology, chemistry and health related BSc, MSc courses and higher-level vocational trainings as well. EDUCATION MOSONMAGYARÓVÁR Széchenyi István University Hungary has a strong and highly differentiated system to develop skills and competencies required by the food industry. There is a traditionally strong institutional system for agricultural training, education and research. GÖDÖLLŐ Szent István University GYÖNGYÖS Eszterházy Károly University NYÍREGYHÁZA University of Nyíregyháza DEBRECEN University of Debrecen KESZTHELY University of Pannonia Classical trades and crafts (such as butchers, bakers, machine

operators, etc.) are taught in the framework of secondary vocational training, while the system of training technicians, managers, and other mid-level professionals can only be entered by students having completed secondary vocational or grammar schools. SZEGED University of Szeged PÉCS University of Pécs KECSKEMÉT John von Neumann University *As of February 2018 BUDAPEST Semmelweis University Food Industry in Hungary LABOUR FORCE 31 H EDUCATION ungarian basic research is internationally recognized, and applied research has produced a number of new products and technologies. The main focus of agriculture related scientific studies is on developing climate-proof, yet GMO free crops (grains, soy and sorghum). S RESEARCH imilarly to education research activities, Hungary’s agriculture and food industry has a long history. Seed breeding has an important status in agricultultural research and is an integral part of each organizations on the next page. MARTONVÁSÁR

Centre for Agricultural Research (Hungarian Academy of Sciences) KESZTHELY Potato Research Center Bioinnovation Research and Service Center (University of Pannonia) GÖDÖLLŐ National Agricultural Research and Innovation Centre (Vegetable Crop Research Department, Food Science Research Institute, Research Institute for Animal Breeding, Nutrition and Meat Science, Research Institute for Fisheries, and Aquaculture) NYÍREGYHÁZA Agricultural Research Institute and Educational Farm (University of Debrecen) *As of February 2018 KARCAG Agricultural Research Institute and Educational Farm (University of Debrecen) José Matthijsse General Manager HEINEKEN Hungária Sörgyárak Zrt. "Innovation is of key importance in the Hungarian added value. Finding the Hungarian small and medium sized entrepreneurs who contribute to the innovation of our technologies and products has brought real benefits for our company. Together with the high quality Hungarian agricultural raw materials, this

provides our products a sustainable business growth.” KAPOSVÁR SZEGED Feed Crops Research Institute Cereal Research (Kaposvár University) Non-Profit Ltd. Western Transdanubia Central Transdanubia Southern Transdanubia Southern Great Plan Northern Great Plan Central Hungary Northern Hungary Food Industry in Hungary LOCATION A pproximately 47 percent of the country’s total area is covered by arable land. It is geographically significant that approximately two-thirds of Hungary’s territory is flat and lie lower than 200 metres above sea level. GEOGRAPHICAL CONDITIONS EXCELLENT GEOGRAPHICAL CONDITIONS 47% ARABLE LAND* 66% FLAT TERRITORY (Source: HCSO, 2017) Péter Noszek Market Head Nestlé Hungária Ltd. “Thanks to its three factories, market presence and significant innovation opportunities, Nestlé Hungária plays an important regional role in Nestlé’s global life. Having been present for 27 years in the country, Nestlé invested more than 100 billion

HUF. In 2017, we completed a 20 billion HUF expansion in our Bük pet food factory. Nestlé continues to plan ahead for long term presence that brings stability and new opportunities to the almost 2000 domestic suppliers of our company.” 33 Food Industry in Hungary EXCELLENT TRANSPORT NETWORK LOCATION TRANSPORT NETWORK 3 TEN-T CORE CORRIDORS CROSSING HUNGARY MEDITERRANEAN • ORIENT / EAST - MED • RHINE - DANUBE European Commission, REGULATION (EU) No 1316/2013 O.J L348 - 20/12/2013 35 AT THE CROSSROADS OF THREE TEN-T CORRIDORS HIGHLY DEVELOPED LOGISTICS & TELECOMMUNICATIONS INFRASTRUCTURE EXTENSIVE ROAD & RAILWAY TRANSPORTATION NETWORK COMMERCIAL CORRIDORS & INFRASTRUCTURE UKRAINE Záhony SLOVAKIA Vienna M30 Beregdaróc Bratislava M15 AUSTRIA M3 M2 M1 M3 M25 M49 M3 M10 M35 M0 M86 Vásárosnamény BudapestM0 M4 M8 M4 M8 M9 M44 SLOVENIA M7 M9 Mihály Karkas Head of Operations Givaudan Hungary Ltd. M60 Zagreb “Hungary, and

Makó was selected as the site for Givaudan’s biggest green field investment because of the rich heritage of food production in the region and new infrastructure which provides easy to access the fast growing markets of Central and Eastern Europe as well as Western Europe. The excellent food industry education at University of Szeged, ensures a pool of highly skilled local employees that has been driving the site to became the flagship of Flavour Division by the end of its first five years of operation in Makó.” M5 CROATIA MOTORWAYS IN HUNGARY M1: Budapest – AUT M3: Budapest – RO/UKR/SK ROMANIA M9 M6 M9 M43 SERBIA M5: Budapest – SRB M6: Budapest – Pécs M7: Budapest – SLO LEGEND existing planned Food Industry in Hungary 37 LOCATION TRANSPORT NETWORK Bremerhaven Hamburg Rotterdam Moscow Duisburg Munich Linz Vienna Salzburg Trieste H Budapest Ploiesti Arad Koper Rijeka ungary has direct connection to all significant harbours and terminals in

Europe. Several main train lines connect Hungary with the main ports of Western Europe (e.g Hamburg, Bremerhaven, Rotterdam), the Adriatic (Koper, Rijeka, Trieste), the Mediterranean (Piraeus) and the Black Sea (Constanta) with regular block train services. Chortomlyk Belgrade Constanta Piraeus RAILWAYS Scheduled block trains Nonscheduled Planned train projects Scheduled barge service Food Industry in Hungary 39 THE HUNGARIAN RAILWAY NETWORK LOCATION TRANSPORT NETWORK RFC lines in Hungary 2016 7,712 km km HUNGARY HIGHLY DEVELOPED NATIONAL RAILWAY NETWORK T LEGEND Stations RFC 11: Amber RFC main line RFC 6: Mediterranean RFC diversionary line main line RFC7: Orient/East-Med RFC diversionary line main line he railway network spans the entire country and is an integral part of the international railway network, thus providing easy access by international express trains from the neighbouring regions and numerous other European countries. The total length of the

Hungarian railway system is 7,712 km, of which 1,224 km (15.9%) is double-track, whilst the electrified railway network has a total length of 3,083 km (40%). HUNGARY IS RANKED Nr. 6 BY RAILWAY LINE DENSITY IN EUROPE *Source: Eurostat Food Industry in Hungary H IPA operates an internal database of industrial parks, investment sites, and industrial halls in Hungary. The Investment Sites Database is one of the most comprehensive resources of its kind, the HIPA database is part of the information package for potential investors. LOCATION INVESTMENT SITES MORE THAN 120 INDUSTRIAL PARKS 250 OFFICES ARE WAITING FOR YOUR INVESTMENT 800 GREEN- AND BROWNFIELD SITES LOOKING FOR INVESTMENT SITE? HIPA WILL SUPPORT YOU! Zoltán Tárkány-Szűcs Deputy Factory Director Nissin Foods Ltd. “Nissin instant noodle factory based in Kecskemét is serving customer in all Europe from 2004. By delivering our brands (CUP NOODLE, SOBA, SMACK) in great quality with engaged team we could grow

our business year on year. To sustain this grow we made a greenfield investment by creating two times bigger capacity factory in 2017 with over EUR 30 million investment. Nissin is confident Hungary has all human and material resources and has a good geography location for our business. ” The Investment Sites Database lists more than 1150 green- and brownfield sites, industrial parks and offices throughout Hungary. It simplifies the task of matching investors’ needs to potential locations. Searchable by size, location, available infrastructure and incentives, the database is an excellent starting point for any prospective investor. 41 Food Industry in Hungary 43 HIPA OUR SERVICES HOW DO WE SUPPORT YOUR FOOD INDUSTRY PROJECT? BEFORE YOU MAKE A DECISION WE OFFER YOU. .one-stop-shop management consultancy services to address your business needs. .tailor-made incentive offers and information packages on the business environment, labour market, tax regulations, etc.

.meetings with HR & real estate agencies, law firms and other consultants based on your needs. .reference visits at companies that are already established in Hungary. AFTER YOU HAVE CHOSEN HUNGARY . location search & evaluation + site visits. We are open to your feedback and offer mediation between government and business based on your inputs. We support your further expansion and plans. PLEASE CONTACT US .assistance with your incentive application. Address: 1055 Budapest, Honvéd utca 20. Customer service: investment@hipa.hu Telephone: +36 1 872 6520 Web: www.hipahu Food Industry in Hungary HIPA INCENTIVES OVERVIEW Regional grants are the most typical forms of incentives for greenfield / brownfield investments or reinvestments. The maximum amount of regional incentive is shown on the regional aid intensity map. The map above illustrates that regional aid available for investment for a large enterprise may be up to 50% of the eligible costs of the investment,

depending on the region. For investments not exceeding EUR 50 million, the maximum intensity ratio can be increased by 10 percent for mediumsized and by 20 percent for small enterprises. GOVERNMENT INCENTIVES A s a member of the European Union, Hungary’s regulations on incentive opportunities are in accordance with the EU rules. One of Hungary’s competitive advantages over other countries in the region is the Government’s strong commitment to increase the competitiveness of SMEs and large enterprises in Hungary. Alongside the regulatory tools that contribute to the competitive business environment of local companies, Hungary offers wide-ranging incentives to facilitate foreign direct investments and reinvestments by local enterprises. In addition to the "Made in Hungary" type investments, increasing emphasis is being put on "Invented in Hungary" type of projects with the aim of supporting the implementation of Industry 4.0 solutions and the strengthening of

Hungary as an innovation hub of Europe. From the beginning of 2017, favorable changes have been introduced in the non-refundable VIP cash grant system supporting R&D projects and technologyintensive investments. 0 / 20 / 35% 35% 25% Győr Debrecen NORTHERN GREAT PLAIN CENTRAL TRANSDANUBIA WESTERN TRANSDANUBIA LOW-INTEREST LOANS Székesfehérvár SOUTHERN TRANSDANUBIA TRAINING SUBSIDIES Miskolc NORTHERN HUNGARY 50% SOUTHERN GREAT PLAIN Szeged THESE INCENTIVES INCLUDE, BUT ARE NOT LIMITED TO TAX INCENTIVES reduction of corporate tax, social tax, or for encouraging R&D activities VIP CASH SUBSIDY FOR AN EVEN WIDER RANGE OF AGRICULTURAL PROCESSING ACTIVITIES CENTRAL HUNGARY, Budapest Pécs CASH SUBSIDIES for investments, training, job creation and R&D 45 The maximum available aid intensity decreases if the investment is a large investment (exceeding EUR 50 million): 50% of the maximum aid intensity determined in the regional aid map is available for

investment between EUR 50 and EUR 100 million, with 34% of the maximum aid intensity for investment over EUR 100 million. For information on up-to-date and individual incentive packages please contact HIPA directly. Different preferential terms for eligibility