Viterra Announces Acceptance for Purchase of C$175,793,000 Aggregate Principal Amount of its C$200 Million 6.406% Senior Unsecured Notes Due 2021

REGINA, SASKATCHEWAN--(Marketwired - May 27, 2014) - Viterra Inc. ("Viterra" or the "Company") announced today that it has accepted for purchase C$175,793,000 aggregate principal amount of its outstanding 6.406% Senior Unsecured Notes due 2021 ("Notes"). As previously disclosed, Viterra, Glencore plc ("Glencore"), Glencore International AG, Glencore (Schweiz) AG and the Trustee have entered into a supplemental indenture (the "Supplemental Indenture") implementing the previously announced Proposed Amendments. The Supplemental Indenture is now operative and is binding on the holders of Notes not purchased by Viterra under its pending Offer to Purchase Notes dated May 5, 2014 ("Offer").

As previously disclosed, upon the Proposed Amendments becoming operative they have a number of effects which include, if Viterra obtains the relief being sought under a relief application to the Financial and Consumer Affairs Authority of Saskatchewan and the Ontario Securities Commission, that Viterra will satisfy its Canadian public disclosure requirements by filing on the System for Electronic Document Analysis and Retrieval (SEDAR) Glencore's consolidated financial statements, among other of Glencore's UK public disclosure requirements, rather than Viterra's consolidated financial statements.

The Offer will expire at 5:00 p.m., Toronto time, on June 5, 2014, unless extended or earlier terminated (as extended or earlier terminated, the "Expiration Time"). Holders who validly tender their Notes after 10:00 am (Toronto time) on May 21, 2014, but prior to the Expiration Time, will: (a) be eligible to receive the Tender Offer Consideration of C$1,110 per C$1,000 principal amount of Notes; and (b) not be eligible to receive the Consent Payment of C$30 per C$1,000 principal amount of Notes.

Viterra currently intends to redeem all Notes that remain outstanding following the expiration of the Offer at a redemption price of C$1,110 per C$1,000 principal amount of Notes plus accrued and unpaid interest as permitted by the Proposed Special Amendments which became operative upon the Supplemental Indenture becoming operative, as previously disclosed.

The Offer is described in the news releases issued on May 5, May 22 and May 23, 2014, the Offer to Purchase and Consent Solicitation Statement dated May 5, 2014 (the "Statement"), the notice of Noteholder Meeting, Letter of Transmittal and Consent, Proxy Form and Meeting Matters Document. Capitalized terms used but not otherwise defined in this press release have the respective meanings in the Statement.