Nigeria Aflasafe™ Pilot ChallengeImplementer Invitation to Participate

I. Executive Summary

The AgResults Nigeria AflasafeTM Pilot Project announces a Challenge to encourage maize aggregators in Nigeria to work with (and to provide incentives to) their smallholder maize farmers to adopt AflasafeTM, a technology shown to reduce Aflatoxin contamination of maize by 99% and to lead to premium per unit prices. Subject to the terms of the Challenge Rules, premium payments will be made to aggregators for AflasafeTM maize collected from the smallholder farmers and confirmed by the AgResults Verifiers to have at least 70% AflasafeTM

prevalence.

II. Premium Payments

During the Challenge period, selected eligible aggregators will be paid by the AgResults Trustee a premium amount of $18.75 (USD) for every metric ton (MT) of high-AflasafeTM treated maize with at least 70% AflasafeTM prevalence as confirmed by the AgResults Verifier after testing and verification as described further below. The maize must be collected by the aggregator from smallholder maize farmers (defined as farmers cultivating less than five hectares of maize) within the aggregator’s network in the Territory. Aggregators are expected and required to share the premium with the smallholder farmers; however the manner that the premium is shared will be determined individually by each aggregator. Aggregators are required to specify in their Challenge Applications the manner in which they will share the premium with the smallholder maize farmers. AgResults reserves the right to corroborate these sharing arrangements between the aggregators and smallholder farmers during the verification process.

The AgResults Verifier(s) will test samples from the farmer’ batches for Aflasafe presence as specified in the verification protocol in Appendix 3. The samples will be collected at predetermined aggregation points, defined as warehouses to be agreed between the AgResults Pilot Manager and the aggregators, where AflasafeTM treated maize is stored by the aggregators for verification, storage and eventual resale.

Aggregators must inform the AgResults Pilot Manager (PM) via telephone call or text message (receipt confirmed by PM) two days in advance of their farmers’ shipping maize to the aggregation points so that Verifier’s availability can be confirmed by the Pilot Manager and

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Prevalence of AflasafeTM in sample Premium paid out

70–100% prevalence USD$18.75 for every MT<70% prevalence Zero

sampling can take place. Sampling date(s) are to be agreed between the Pilot Manager and the aggregator. The Pilot Manager is:Adebowale (Debo) AkandePilot Manager, Nigeria AflasafeTM Pilot+234 703 221 3797

The AgResultsTrustee will make payments upon request made by the AgResults Secretariat and approved by the AgResults Steering Committee. The request will be made by the Secretariat upon AgResults Verifier’s confirmation that the collected samples indicate a 70% or more presence of AflasafeTM in the tested maize. Payments are subject to the aggregator’s eligibility and compliance with the Challenge Rules. Payments will be made monthly and there is no limit or cap on the amount of payments an aggregator can achieve during the Challenge Period.

III. Verification Process

Representative samples of 5 kg of the maize will be collected at the aggregation points for analysis by the Verifier to ascertain the presence of AflasafeTM in the harvested and collected maize. Sampling for verification purposes will be available to aggregators every two weeks during a 90-day period after the harvest begins and within this frequency of verification visits, Verifiers can be called to aggregation points by means of the Pilot Manager once quantities greater than 30 MT tons of AflasafeTM treated maize are accumulated in each aggregation point. One sample will be taken by the Verifier from each 30 MT of AflasafeTM treated maize. Participants must inform the Pilot Manager at least two days in advance when their farmers are shipping maize to the aggregation points so that sampling can take place. Sampling date(s) are to be agreed between the Pilot Manager and the aggregator. Once the dates are agreed, the Pilot Manager will instruct the Verifier to facilitate the inspection and verification of the maize. The Verifier will also account for the amount of the treated maize collected from each farmer so that the payment can be made for the applicable maize amount collected once the required AflasafeTM presence is confirmed in the sample(s) from the farmer’s batch.

While bagging harvested and threshed AflasafeTM treated maize, farmers and aggregators must clearly mark the bags with identifying features specified by AgResults. The bags’ tags or markings shall specify farmer’s name, aggregator’s name, batch number, harvest date, and other identifiers as specified in Appendix 3 attached hereto or as may be further specified by the Pilot Manager. Correct marking of the bags is important and will ensure, among other things that Verifier can confirm the amount of harvested AflasafeTM treated maize and can properly collect the samples for testing and verification. For verification purposes the aggregators will be expected to store the AflasafeTM treated maize separately from other stocks of maize in their warehouses until sampling is performed by the AgResults Verifier. After the Verifier collects the samples and confirms the amounts of the collected treated maize, the aggregators can sell the maize at will.

After the samples are collected they will be sent to the Verifier’s laboratory for testing. The verification process in the lab will take approximately four weeks from the time each sample is taken. If the presence of at least 70% of AflasafeTM is confirmed in a representative sample by the Verifier, then the PM will notify the aggregator. The PM will also notify the AgResults Secretariat who will then initiate a payment request from the AgResults Trust Fund (administered by the World Bank) to the aggregator for the amount of the collected maize from which the qualifying sample was taken, as confirmed by the Verifier during the verification process. If the sampled maize does not meet the minimum AflasafeTM level to qualify for

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premium payments hereunder, the aggregator will be notified and no premium will be paid.

Preliminary findings indicate that if applied appropriately, rural smallholder farmers can expect to achieve numbers in excess of 90% presence of AflasafeTM in their harvested maize.

In addition to the Pilot Manager and the Verifier, an Independent Evaluator appointed by the AgResults Steering Committee will conduct a baseline, midterm and final evaluation to assess the overall impacts of the Pilot on the maize market, population health, smallholder incomes, overall economic benefits, and success of the Pilot model. Aggregators shall assist the Evaluator when they are collecting sample data during these exercises.

IV. Participant Eligibility and Participation Requirements

Aggregators must meet, on an ongoing basis, eligibility criteria as set forth in the Challenge Rules. In addition, selected aggregators must meet the following criteria:

Aggregation: Demonstrate ability to work with or intention to work with at least 300 smallholder

farmers and have an established or proposed business model of sourcing maize from smallholder farmers and provide assistance to their smaller holder members.

Have the ability and capacity to organize and coordinate smallholder farmers through pre-planting, planting and post-harvest handling of maize that has been treated with AflasafeTM.

Have the capacity to train and monitor farmer groups on the environmental application of AflasafeTM, post-harvest management and the safe transfer and storage of this maize.

Be capable of providing support to smallholder farmers’ maize productivity through extension and access to farm inputs. This could include having systems in place to add value to production of maize or link farmers to a package of yield-enhancing inputs, i.e. fertilizers, storage facility, finance, etc.

Provide business references including from farmers; references should cover technical support and fairness of market price offerings.

Be capable of facilitating or coordinating the purchase of AflasafeTM on behalf of the farmer groups as required.

Have the willingness and capacity to label all maize bags produced by farmer groups in keeping with AgResults requirements.

Verification: Be able to organize a system of aggregation points and storage to support AflasafeTM

verification procedures and sale to end-customers. Demonstrate an ability to meet verification procedures, including delivery of high-

AflasafeTM treated maize to designated collection points. Agree to work with AgResults evaluators to develop lessons learned from the

implementation. Agree to disclose Challenge relevant business practices on a confidential basis to

AgResults evaluators at various stages during project implementation, including description and documentation of efforts to support farmers in their application of AflasafeTM.

Reporting:

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Have the capacity to provide data as required by the PM. Data will include, but not limited to, the date and application rates for AflasafeTM application, area planted, harvest dates and yield, among others.

Demonstrate commitment to maximizing transparency, disclosing records, and document sharing of the premium payment or other benefits for high- AflasafeTM treated maize to their participating smallholders.

Coordinate and cooperate with the PM and the AgResults Secretariat in the collection of data during the baseline and end of Pilot evaluation to assess the overall impact of the activity on the maize market, population health, and smallholder incomes and overall economic benefits.

Branding and marketing: Have downstream market linkages to efficiently aggregate and sell treated AflasafeTM

maize at a premium.

Aggregators interested in participating in the Challenge are asked to complete and submit the accompanying Application. The Application will be reviewed by the AgResults Pilot Manager, in consultation with Pilot Advisory Council and the AgResults Secretariat. Eligible aggregators interested in the Challenge participation will be selected at the discretion of AgResults and notified in writing.

Participation in the Challenge is subject to the aggregator’s compliance with the Challenge Rules, attached hereto as Appendix 4. By submitting the Application or participating in the Challenge the aggregator confirms its compliance with the Challenge Rules.

We look forward to working with your company on this opportunity. Should you have any questions or comments please direct them to Mr. Adebowale (Debo) Akande, the Pilot Manager.

If you are an aggregator interested in applying for the Nigeria AflasafeTM Pilot, please complete the accompanying Application and transmit it to:

Adebowale (Debo) AkandePilot Manager, Nigeria AflasafeTM Pilot+234 703 221 3797info@agresults.org

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Appendix 1AgResults Background

AgResults initiative (“AgResults”) is a US$118 million multilateral-initiative financed jointly by the governments of Australia, Canada, the United Kingdom, the United States, the Bill & Melinda Gates Foundation and other contributor(s) (each, a “Contributor”). AgResults seeks to increase private sector investment in food security and agriculture globally. AgResults establishes “pull mechanisms” - ex-post economic incentives that are provided to businesses or organizations in areas where private sector investment is virtually absent due to market uncertainties. In doing so, AgResults goes beyond traditional aid “push mechanisms” that provide grants, technical assistance, or other inputs with the hope of creating development impacts. Instead, AgResults-financed pull mechanisms define a development problem and pay only for development outcomes that are achieved. Innovation prizes – such as XPRIZE – are one form of pull mechanism, and AgResults will support a range of different prizes and other pull mechanisms. AgResults will also evaluate the effectiveness and efficiency of pull financing in comparison with traditional “push” development approaches to the promotion and uptake of innovative agricultural technologies.

Several different bodies are involved in implementing the AgResults initiative:

A Steering Committee is comprised of donor organization representatives makes strategic decisions and appoints other organizations participating in the AgResults initiative.

The IBRD/World Bank serves as Financial Trustee for the AgResults initiative, manages donor contributions in a trust fund, and contracts with the AgResults Secretariat and the monitoring and evaluation consultants for the AgResults initiative.

The AgResults Secretariat is responsible for designing new pilot projects; overall management and coordination of individual pilot projects.

A Pilot Manager - manages overall implementation of the pilot project has been contracted by AgResults Secretariat to perform the role of the Pilot Manager (“PM”) of the Nigeria AflasafeTM Pilot Project.

A Verifier who will determine and certify whether participants who claim to have achieved the results required for en ex-post payment have in fact been met.

Implementers - organizations that participate in the pilot program and receive an award payment if the pilot objective is achieved and verified.

The Steering Committee has contracted with Abt Associates to serve as an Independent Evaluator, to measure AgResults impacts and compare them to traditional, “push mechanism” development approaches.

The relationship among these parties is illustrated below:

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The Nigeria AflasafeTM Pilot specifically aims to significantly reduce Aflatoxin contamination in maize by helping to create a market in which farmers produce and consumers demand Aflatoxin-free maize. The pilot will accomplish this by increasing the adoption of a bio control product called AflasafeTM that is applied to the soil by smallholder farmers (cultivating less than five hectares). AflasafeTM was adapted for Nigeria by the International Institute of Tropical Agriculture (IITA) and other partners. It has been approved by national authorities and is registered with the National Agency for Food and Drug Administration and Control (NAFDAC).

The Nigeria AflasafeTM Pilot supports the emergence of a long-term market for Aflatoxin-free maize. The Pilot will accomplish this by:

1) Raising awareness of the risks of Aflatoxin contamination and the fact that solutions exist;

2) Demonstrating to farmers, processers and other players in the market that AflasafeTM is economical to use; and

3) Generating a critical mass of high- AflasafeTM treated maize that regulators can use to define and enforce standards.

The following summarizes the planned results of the pilot: Short-term: Increased treatment of crops with AflasafeTM and increased smallholder

maize yields Mid-term: Increased availability of quality maize and increased sales of maize by

smallholders and in downstream markets Long-term: Increased consumption of quality maize and improved returns to players

along the supply chain

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Appendix 2Understanding the Aflatoxin Challenge

Aflatoxin has serious health as well as economic impacts – its prevalence currently limits demand for grain exports from African production areas that are at risk, such as Nigeria. In Nigeria, where smallholders produce over 70% of maize, IITA estimates that up to 60% of the maize is aflatoxin-contaminated. A number of different technologies exist to address aflatoxin contamination, including sorting, drying, and post-harvest storage techniques; treatments for processed grains; and bio controls. Bio controls, including AflasafeTM, are effective because they address the problem at the source, crowding out aflatoxin-producing fungus species with other native fungi. Field tests of AflasafeTM in Nigeria have shown an average of an 80% reduction in aflatoxin levels in treated crops. For each of these solutions, barriers in the grain market have prevented widespread adoption. These include limited awareness of the aflatoxin problem on the part of producers and consumers; absence of premium pricing for aflatoxin controlled-maize; and a lack of regulation or enforcement of limits on contamination.

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Appendix 3Verification protocol

Sampling will be done at the aggregation points, agreed between the aggregator and the Pilot Manager, where maize is collected and stored from smallholders. Participants must inform the Nigeria AflasafeTM Pilot Manager (PM) appointed by AgResults at least two days in advance when their farmers are shipping maize to the aggregation point so that sampling can take place. Sampling date(s) are to be agreed between the Pilot Manager and the aggregator. The Pilot Manager is:

Adebowale (Debo) Akande+234 703 221 3797info@agresults.org

Representative samples of 5 kg of the maize will be collected at the aggregation points for analysis by the Verifier to ascertain the presence of AflasafeTM in the harvested and collected maize. Sampling for verification purposes will be available to aggregators every two weeks during a 90-day period after the harvest begins and within this frequency of verification visits, Verifiers can be called to aggregation points by means of the Pilot Manager once quantities greater than 30 MT tons of AflasafeTM treated maize are accumulated in each aggregation point. One sample will be taken by the Verifier from each 30 MT of AflasafeTM treated maize. Participants must inform the Pilot Manager at least two days in advance when their farmers are shipping maize to the aggregation points so that sampling can take place. Sampling date(s) are to be agreed between the Pilot Manager and the aggregator. Once the dates are agreed, the Pilot Manager will instruct the Verifier to facilitate the inspection and verification of the maize. The Verifier will also account for the amount of the treated maize collected from each farmer so that the payment can be made for the applicable maize amount collected once the required AflasafeTM presence is confirmed in the sample(s) from the farmer’s batch.

While bagging harvested and threshed AflasafeTM treated maize, farmers and aggregators must clearly mark the bags with identifying features specified by AgResults. The bags’ tags or markings shall specify farmer’s name, aggregator’s name, batch number, harvest date, and other identifiers as may be further specified by the Pilot Manager. Correct marking of the bags is important and will ensure, among other things that Verifier can confirm the amount of harvested AflasafeTM treated maize and can properly collect the samples for testing and verification. For verification purposes the aggregators will be expected to store the AflasafeTM treated maize separately from other stocks of maize in their warehouses until sampling is performed by the AgResults Verifier.

After the Verifier collects the samples and confirms the amounts of the collected treated maize, the aggregators can sell the maize at will.

After the samples are collected they will be sent to the Verifier’s laboratory for testing. The verification process in the lab will take approximately four weeks from the time each sample is taken. If the presence of at least 70% of AflasafeTM is confirmed in a representative sample by the Verifier then the PM will notify the aggregator and will initiate a payment request from the AgResults Trust Fund (administered by the World Bank) to the aggregator for the amount of the collected maize from which the qualifying sample was taken, as confirmed by the Verifier during the verification process. If the sampled maize does not meet the minimum AflasafeTM level to qualify for premium payments hereunder, the aggregator will be notified and no premium will be

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paid.

Preliminary findings indicate that if applied appropriately, rural smallholder farmers can expect to achieve numbers in excess of 90% presence of AflasafeTM in their harvested maize.

In addition to the Pilot Manager and the Verifier, an Independent Evaluator appointed by the AgResults Steering Committee will conduct a baseline, midterm and final evaluation to assess the overall impacts of the Pilot on the maize market, population health, smallholder incomes, overall economic benefits, and success of the Pilot model. Aggregators shall assist the Evaluator when they are collecting sample data during these exercises.

Sampling collection at Aggregation point for verification

The aggregator, as the one who would be receiving the premium payment for qualifying maize, has the incentive and the responsibility to ensure that the smallholder farmers are also incentivized to deliver their AflasafeTM maize in a timely manner. Information in this regard has been shared with various aggregators during the training and information sessions.

To enable effective verification for purposes of premium payments, the maize must be stored at designated aggregation points, where the samples will be collected and quantity of the maize will be verified.

The protocol for verification is as follows.

90 days from the beginning of the harvest period are set aside for the verification exercise at the designated aggregation points

For each lot of 300 bags (a truckload), the Verifier will sample 100 bags.

This equates to a 90% confidence level that the sample is representative of the truck with a margin of error of +/- 7%

The Verifier will use random start numbers to avoid bias The Verifier will take a 50g sample from each sample bag (every 3 bags in the truck). Total weight of the representative sample from each truck is 50g *100 bags = 5 kg The Verifier will transport the 5 kg sample to verification centres, will grind the complete

5 kg sample into a fine powder and put in a polyethylene bag.

Verification Process From the 5kg sample, the Verifier will take a 50 g sample for aflatoxin analysis, and

whatever is required for VCG and pyrosequencing. Aflatoxin and Aflasafe tests will be conducted on 100% of samples collected

Premium payments will be determined by truck sampled:– Pay 100% of the premium if 70% or more Aflasafe prevalence on a given truck– Pay 0% of the premium if less than 70% of Aflasafe prevalence on a given truck

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During the lessons learned phase, the different business models for aggregation working with small holders adopted by the various aggregators will determine what models are more effective.

Aggregators may be encouraged in the future to organize their members into manageable groups since this will facilitate any training, provision of extension services and improved inputs that they may provide as well as the sampling and verification process. Aggregators are expected to specify which support services they plan to provide to their growers as part of the application process.

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Appendix 4Challenge Rules

Nigeria Aflasafe™ Pilot Project

Challenge Period: April 1, 2017 until September 1, 2018

Challenge Organizer: AgResults Initiative, acting through AgResults Secretariat

Participants: Maize aggregators in Nigeria who meet the eligibility requirements and are interested in participating in the Challenge and selected by AgResults based on their Application may participate in the Challenge. No purchase necessary. VOID WHERE PROHIBITED BY LAW.

In the event of discrepancy between these rules for the Challenge (the 'Challenge Rules') and the other Invitation to Participate documents, the Challenge Rules prevail. By submitting your application to participate in the Challenge, or joining the Challenge, you are agreeing to be bound by these Challenge Rules which constitute a binding agreement between you and the Challenge Organizer. Eligibility and Application The Challenge is only open to maize aggregators in Nigeria who purchase maize from smallholder maize farmers. Organizations and individuals engaged as the AgResults Secretariat, Pilot Manager(s), Pilot Verifier(s), Pilot Advisory Council, or Independent Evaluator(s) for the Nigeria Aflasafe Pilot Project and their respective affiliates and immediate family members, respectively, (collectively, the "Challenge Entities") are not eligible to participate in the Challenge without prior written approval of the AgResults Steering Committee. Participants shall immediately disclose to the Pilot Manager in writing any potential conflict of interests in connection with their participation in the Challenge.

Participants must ensure to follow Nigeria laws concerning the policies and practices of the Convention on the Rights of the Child (“Convention”), including Child Right’s Act of 2003, and may not use AgResults funds in any practice inconsistent with the benefits set forth in the Convention or the Act. Participants may not engage in any corrupt or collusive practices in connection with the Challenge and must ensure that funds received from AgResults are not used, directly or indirectly, to provide support to individuals or entities associated with terrorism.

In addition, Participants must meet the following eligibility criteria to apply and participate in the Challenge:

Aggregation: Demonstrate ability to work with or intention to work with at least 300 small holder

farmers and have an established or proposed business model of sourcing maize from smallholder farmers and provide assistance to their smaller holder members.

Have the ability and capacity to organize and coordinate smallholder farmers through pre-planting, planting and post-harvest handling of maize that has been treated with AflasafeTM.

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Have the capacity to train and monitor farmer groups on the environmental application of AflasafeTM, post-harvest management and the safe transfer and storage of this maize.

Be capable of providing support to smallholder farmers’ maize productivity through extension and access to farm inputs. This could include having systems in place to add value to production of maize or link farmers to a package of yield-enhancing inputs, i.e. fertilizers, storage facility, finance, etc.

Provide business references including from farmers; references should cover technical support and fairness of market price offerings.

Be capable of facilitating or coordinating the purchase of AflasafeTM on behalf of the farmer groups as required.

Have the willingness and capacity to label all maize bags produced by farmer groups in keeping with AgResults requirements.

Verification: Be able to organize a system of aggregation points and storage to support AflasafeTM

verification procedures and sale to end-customers. Demonstrate an ability to meet verification procedures, including delivery of high-

AflasafeTM treated maize to designated collection points. Agree to work with AgResults evaluators to develop lessons learned from the

implementation. Agree to disclose Challenge relevant business practices on a confidential basis to

AgResults evaluators at various stages during project implementation, including description and documentation of efforts to support farmers in their application of AflasafeTM.

Reporting: Have the capacity to provide data as required by the PM. Data will include, but not

limited to, the date and application rates for AflasafeTM application, area planted, harvest dates and yield, among others.

Demonstrate commitment to maximizing transparency, disclosing records, and document sharing of the premium payment or other benefits for high- AflasafeTM treated maize to their participating smallholders.

Coordinate and cooperate with the PM and the AgResults Secretariat in the collection of data during the baseline and end of Pilot evaluation to assess the overall impact of the activity on the maize market, population health, and smallholder incomes and overall economic benefits.

Branding and marketing: Have downstream market linkages to efficiently aggregate and sell treated AflasafeTM maize at a premium.

If your organization meets the eligibility requirements and would like to participate, please complete the attached application and send it to:

Adebowale (Debo) AkandeAgResults Pilot Managerinfo@agresults.org

Applications must be received by Friday January 13, 2017 at 5PM EST. Late applications may

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be excluded from the selection.

BY SUBMITTING THE APPLICATION FOR THE CHALLENGE YOU ACCEPT THE CONDITIONS STATED IN THESE RULES, AGREE TO BE BOUND BY THE DECISIONS OF AGRESULTS SECRETARIAT AND PILOT MANAGER ABOUT YOUR ELIGIBILITY TO PARTICIPATE, AND WARRANT YOUR COMPLIANCE WITH THE CHALLENGE RULES. IF YOU DO NOT ACCEPT ALL OF THESE RULES, THEN PLEASE DO NOT APPLY FOR THE CHALLENGE. WE RECOMMEND THAT YOU PRINT OUT A COPY OF THESE RULES AND THE INVITATION DOCUMENT FOR YOUR FUTURE REFERENCE. Your Challenge Application will be reviewed by the AgResults Pilot Manager, in consultation with Pilot Advisory Council and the AgResults Secretariat, and you will be notified in writing if you are selected to participate in the Challenge. Only selected aggregators who comply with the Challenge Rules are eligible for the premium payable in accordance with the Challenge Rules.

AGRESULTS SECRETARIAT RESERVES THE RIGHT TO EXCLUDE ANY PARTICIPANT FROM THE CHALLENGE AT ANY TIME IF IT DEEMS, AT ITS SOLE DISCRETION, THE PARTICIPANT NOT ELIGIBLE OR COMPLIANT WITH THE CHALLENGE RULES.

Challenge Premium Payments During the Challenge period, selected eligible aggregators will be paid by the AgResults Trustee a premium amount of $18.75 (USD) for every metric ton (MT) of high-AflasafeTM treated maize with at least 70% AflasafeTM prevalence as confirmed by the AgResults Verifier after testing and verification as described further below. The maize must be collected by the aggregator from smallholder maize farmers (defined as farmers cultivating less than five hectares of maize) within the aggregator’s network in the Territory. Aggregators are expected and required to share the premium with the smallholder farmers; however the manner that the premium is shared will be determined individually by each aggregator. Aggregators are required to specify in their Challenge Applications the manner in which they will share the premium with the smallholder maize farmers. AgResults reserves the right to corroborate these sharing arrangements between the aggregators and smallholder farmers during the verification process.

The AgResults Verifier(s) will test samples from the farmers’ batches for Aflasafe presence as specified in the verification protocol specified below attached as Appendix 3 of the Implementer Invitation to Participate (also available at www.agresults.org). The samples will be collected at predetermined aggregation points, defined as warehouses to be agreed between the AgResults Pilot Manager and the aggregators, where AflasafeTM treated maize is stored by the aggregators for verification, storage and eventual resale.

Aggregators must inform the AgResults Pilot Manager (PM) via telephone call or text message (receipt confirmed by PM) two days in advance of their farmers’ shipping maize to the aggregation points so that Verifier’s availability can be confirmed by the Pilot Manager and

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Prevalence of AflasafeTM in sample Premium paid out

70–100% prevalence USD$18.75 for every MT<70% prevalence Zero

sampling can take place. Sampling date(s) are to be agreed between the Pilot Manager and the aggregator.

The Pilot Manager is:Adebowale (Debo) AkandeAgResults Pilot Manager+234 703 221 3797

The AgResults Trustee will make payments upon request made by the AgResults Secretariat and approved by the AgResults Steering Committee. The request will be made by the Secretariat upon AgResults Verifier’s confirmation that the collected samples indicate a 70% or more presence of AflasafeTM in the tested maize. Payments are subject to the aggregator’s eligibility and compliance with the Challenge Rules. Payments will be made monthly and there is no limit or cap on the amount of payments an aggregator can achieve during the Challenge Period.

Participants are responsible to pay any and all taxes and similar fees due in connection with the premium payments under applicable laws. Participant Representations By submitting an Application to participate in the Challenge and/or by participating in the Challenge, each Participant represents that it is eligible to submit the Application and participate in the Challenge in accordance with these Rules, and that it will comply with the Challenge Rules during the Challenge term. Equipment and Costs of Participation Each Participant is solely responsible for all equipment and materials necessary to participate in the Challenge. The risks and liabilities that Participant may individually incur in fulfilling its responsibilities and obligations in connection with the Challenge shall be the sole responsibility of the Participant. Selection and Verification Results Selection of Participants is at the sole discretion of the Organizer. The Organizer reserves the right to terminate participation of any Participant if, in its sole discretion, the Organizer determines that the Participant (i) does not meet the eligibility criteria; (ii) has been involved in any activity that could affect the integrity of this Challenge; or (iii) has been non-compliant with the Challenge Rules. The Organizer is not responsible for accuracy of the sampling or of the laboratory tests for AflasafeTM prevalence and results obtained from Verifier(s). Reservation of Rights Organizer reserves the right to correct clerical or typographical errors in Challenge materials. Organizer reserves the right to amend these Challenge Rules, including any appendices, during the Challenge Period. By continuing participation in the Challenge, a Participant is deemed to have accepted any such amendment. If a participant does not wish to continue to participate in the Challenge pursuant to the Challenge Rules, as amended, such Participant may terminate its

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participation in the Challenge. Participants are urged to consult the Pilot Website www.agresults.org regularly during the Challenge Period. Organizer reserves the right to cancel, modify or suspend the Challenge should any causes beyond a reasonable control of the Organizer delay or adversely affect the administration, management or proper completion of the Challenge. Organizer also reserves the right, in its sole discretion, to cancel, modify or suspend the Challenge at any time and for any reason, or for no reason. Organizer reserves the right, in its sole discretion, to disqualify any Participant from this Challenge if any Participant’s activity or conduct, including any alleged corrupt, fraudulent or obstructive practice or similar misconduct, may affect the integrity of this Challenge. General Release By entering the Challenge, Participant releases and discharges the Challenge Entities from any liability whatsoever in connection with the Challenge or with the acceptance, possession, use or misuse of any prize including, without limitation, legal claims, costs, injuries, losses or damages, demands or actions of any kind (including, without limitation: personal injuries; death; damage to, loss or destruction of property; rights of publicity or privacy; and defamation or portrayal in a false light). The Organizer will not be responsible for typographical, printing or other inadvertent errors in these Challenge Rules or in other materials relating to the Challenge. Additionally, Participant hereby agrees to indemnify the Challenge Entities from any and all losses, damages, costs, expenses, rights, claims, demands and actions (including attorney's fees and expenses for litigation and settlement), which may be brought against any one or more of them by anyone claiming to have suffered loss or damage as a result of your participation in the Challenge. Limitations of Liability By participating in the Challenge, each Participant agrees that: (1) any and all disputes, claims, and causes of action arising out of or in connection with the Challenge, or any premium payments rights in connection with the Challenge, shall be resolved individually without resort to any form of class action; (2) any claims, judgments and awards shall be limited to actual out-of-pocket costs incurred, including costs associated with entering the Challenge, but in no event attorney's fees; and (3) under no circumstances will a participant be permitted to obtain any award for, and each participant hereby waives all rights to claim, indirect, punitive, incidental or consequential damages and any and all rights to have damages multiplied or otherwise increased and any other damages, other than damages for actual out-of-pocket expenses directly and proximately incurred. Construction Organizer shall be the sole interpreter of these Challenge Rules. All issues and questions concerning the construction, validity, interpretation and enforceability of these Challenge Rules, or the rights and obligations of any participant vis-à-vis the Organizer, shall be governed by, and construed in accordance with applicable laws. The laws of New York State, USA, will govern any questions concerning the construction, validity, interpretation and enforceability of the following clauses: Reservation of Rights, General Release, Limitations of Liability and Construction specified in these Challenge Rules. The invalidity or unenforceability of any

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provision of these Challenge Rules shall not affect the validity or enforceability of any other provision. In the event that any provision is determined to be invalid or otherwise unenforceable or illegal, these Challenge Rules shall otherwise remain in effect and be construed in accordance with their terms as if the invalid or illegal provision was not contained herein.

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