SIPEF

Earnings Release • Apr 21, 2022

Group production - (in tonnes)

March 2022

	Q1	Q2	2022 Q3	Q4			Q2	2021 Q3	Q4	YTD	YoY Variation Q1
Fresh fruit bunches produced Own					YTD	Q1						YTD
Tolan Tiga Group	62 011				62 011	66 639				66 639	-6,94%	-6,94%
Umbul Mas Wisesa Group	47 252				47 252	53 244				53 244	-11,25%	-11,25%
Agro Muko Group	75 100				75 100	95 628				95 628	-21,47%	-21,47%
South Sumatra Group	31 274				31 274	23 352				23 352	33,92%	33,92%
Hargy Oil Palms	93 239				93 239	90 303				90 303	3,25%	3,25%
Total own	308 876	0	0	0	308 876	329 167	0	0	0	329 167	-6,16%	-6,16%
Outgrowers
Tolan Tiga Group	3 339				3 339	1 199				1 199	178,49%	178,49%
Umbul Mas Wisesa Group	168				168	159				159	5,44%	5,44%
Agro Muko Group	3 887				3 887	4 427				4 427	-12,19%	-12,19%
South Sumatra Group	5 118				5 118	2 666				2 666	91,95%	91,95%
Hargy Oil Palms	55 239				55 239	58 191				58 191	-5,07%	-5,07%
Total outgrowers	67 752	0	0	0	67 752	66 642	0	0	0	66 642	1,66%	1,66%
Total FFB produced	376 628	0	0	0	376 628	395 809	0	0	0	395 809	-4,85%	-4,85%
Fresh fruit bunches sold	Q1	Q2	Q3	Q4	YTD	Q1	Q2	Q3	Q4	YTD	Q1	YTD
Tolan Tiga Group	2 154				2 154	318				318	577,39%	577,39%
Umbul Mas Wisesa Group	9 973				9 973	9 941				9 941	0,32%	0,32%
Agro Muko Group	1 163				1 163	917				917	26,83%	26,83%
South Sumatra Group	8 497				8 497	584				584	1355,02%	1355,02%
Total FFB sold	21 787	0	0	0	21 787	11 760	0	0	0	11 760	85,27%	85,27%
Fresh fruit bunches processed	Q1	Q2	Q3	Q4	YTD	Q1	Q2	Q3	Q4	YTD	Q1	YTD
Tolan Tiga Group	63 196				63 196	67 520				67 520	-6,40%	-6,40%
Umbul Mas Wisesa Group	37 446				37 446	43 462				43 462	-13,84%	-13,84%
Agro Muko Group	77 825				77 825	99 139				99 139	-21,50%	-21,50%
South Sumatra Group	27 895				27 895	25 434				25 434	9,67%	9,67%
Hargy Oil Palms	148 478				148 478	148 494				148 494	-0,01%	-0,01%
Total FFB processed	354 841	0	0	0	354 841	384 050	0	0	0	384 050	-7,61%	-7,61%
PO extraction rate	Q1	Q2	Q3	Q4	YTD	Q1	Q2	Q3	Q4	YTD	Q1	YTD
Tolan Tiga Group	22,6%				22,6%	22,5%				22,5%	0,23%	0,23%
Umbul Mas Wisesa Group	23,7%				23,7%	23,7%				23,7%	-0,28%	-0,28%
Agro Muko Group	23,2%				23,2%	23,2%				23,2%	0,15%	0,15%
South Sumatra Group	23,1%				23,1%	21,4%				21,4%	7,55%	7,55%
Hargy Oil Palms	25,3%				25,3%	25,4%				25,4%	-0,21%	-0,21%
Total PO extraction rate	24,0%	0,0%	0,0%	0,0%	24,0%	23,9%	0,0%	0,0%	0,0%	23,9%	0,66%	0,66%
Palm Oil	Q1	Q2	Q3	Q4	YTD	Q1	Q2	Q3	Q4	YTD	Q1	YTD
Own
Tolan Tiga Group	13 988				13 988	15 004				15 004	-6,77%	-6,77%
Umbul Mas Wisesa Group	8 828				8 828	10 301				10 301	-14,30%	-14,30%
Agro Muko Group	17 199				17 199	21 968				21 968	-21,71%	-21,71%
South Sumatra Group	5 277				5 277	4 904				4 904	7,60%	7,60%
Hargy Oil Palms	23 736				23 736	23 045				23 045	3,00%	3,00%
Total own	69 027	0	0	0	69 027	75 222	0	0	0	75 222	-8,23%	-8,23%
Outgrowers
Tolan Tiga Group	274				274	199				199	37,96%	37,96%
Umbul Mas Wisesa Group	35				35	15				15	133,55%	133,55%
Agro Muko Group	846				846	984				984	-14,07%	-14,07%
South Sumatra Group	1 156				1 156	549				549	110,49%	110,49%
Hargy Oil Palms	13 889				13 889	14 664				14 664	-5,29%	-5,29%
Total outgrowers	16 199	0	0	0	16 199	16 411	0	0	0	16 411	-1,29%	-1,29%
Total Palm Oil	85 226	0	0	0	85 226	91 632	83 835	0	0	91 632	-6,99%	-6,99%

Palm Kernels	Q1	Q2	Q3	Q4	YTD	Q1	Q2	Q3	Q4	YTD	Q1	YTD
Own
Tolan Tiga Group	3 271				3 271	3 665				3 665	-10,76%	-10,76%
Umbul Mas Wisesa Group	1 480				1 480	1 754				1 754	-15,60%	-15,60%
Agro Muko Group	3 256				3 256	4 342				4 342	-25,01%	-25,01%
South Sumatra Group	751				751	902				902	-16,72%	-16,72%
Total own	8 758	0	0	0	8 758	10 663	0	0	0	10 663	-17,86%	-17,86%
Outgrowers
Tolan Tiga Group	55				55	41				41	34,73%	34,73%
Umbul Mas Wisesa Group	6				6	3				3	89,67%	89,67%
Agro Muko Group	167				167	193				193	-13,54%	-13,54%
South Sumatra Group	156				156	98				98	59,25%	59,25%
Total outgrowers	384	0	0	0	384	335	0	0	0	335	14,58%	14,58%
Total Palm Kernels	9 142	0	0	0	9 142	10 998	0	0	0	10 998	-16,88%	-16,88%
Palm Kernel Oil	Q1	Q2	Q3	Q4	YTD	Q1	Q2	Q3	Q4	YTD	Q1	YTD
Hargy Oil Palms Own	1 869				1 869	1 809				1 809	3,29%	3,29%
Hargy Oil Palms Outgrowers	1 125				1 125	1 188				1 188	-5,29%	-5,29%
Total Palm Kernel Oil	2 994	0	0	0	2 994	2 997	0	0	0	2 997	-0,11%	-0,11%
Rubber	Q1	Q2	Q3	Q4	YTD	Q1	Q2	Q3	Q4	YTD	Q1	YTD
Own
Tolan Tiga Group	87				87	187				187	-53,48%	-53,48%
Agro Muko	234				234	399				399	-41,41%	-41,41%
Total own	321	0	0	0	321	586	0	0	0	586	-45,26%	-45,26%
Outgrowers
Tolan Tiga Group	159				159	152				152	4,61%	4,61%
Total Rubber	480	0	0	0	480	738	0	0	0	738	-34,99%	-34,99%
Bananas	Q1	Q2	Q3	Q4	YTD	Q1	Q2	Q3	Q4	YTD	Q1	YTD
Azaguie 1	1 360				1 360	1 637				1 637	-16,92%	-16,92%
Azaguie 2	1 379				1 379	1 971				1 971	-30,07%	-30,07%
Lumen	0				0	0				0	-	-
Agboville	2 464				2 464	2 971				2 971	-17,07%	-17,07%
Motobe	2 313				2 313	2 870				2 870	-19,42%	-19,42%
Total Bananas	7 515	0	0	0	7 515	9 449	0	0	0	9 449	-20,47%	-20,47%

Commodity Price Data

March 2022

Average market prices
Product		YTD Q1/2022	YTD Q1/2021	YTD Q4/2021
CPO (CIF Rotterdam)*	in \$/mt	1 564	1 081	1 195
CPKO (CIF Rotterdam)*	in \$/mt	2 325	1 395	1 517
RSS3 (FOB Singapore)**	in \$/mt	2 069	2 337	2 071
Bananas (CFR Europe)***	in €/mt	756	659	616

* Oil World price data

** World bank commodity price data - updated database

*** CIRAD price data (in EUR)

SIPEF - Kasteel Calesberg - 2900 Schoten RPR Antwerpen / VAT BE 0404 491 285 p. 3 of 3

Bananas CFR Europe in €/mt