SIPEF

Investor Presentation • Aug 14, 2019

Group production - (in tonnes)

June 2019

			2019					2018			YoY Variation
Fresh fruit bunches produced	Q1	Q2	Q3	Q4	YTD	Q1	Q2	Q3	Q4	YTD	Q2	YTD
Own
Tolan Tiga Group	68 659	70 923			139 582	73 557	71 301			144 858	-0,53%	-3,64%
Umbul Mas Wisesa Group	48 282	48 018			96 300	46 742	50 651			97 393	-5,20%	-1,12%
Agro Muko Group	74 717	76 870			151 587	84 280	90 635			174 915	-15,19%	-13,34%
South Sumatra Group	13 160	14 535			27 695	6 548	8 761			15 309	65,90%	80,91%
Hargy Oil Palms	76 041	82 388			158 429	84 071	93 506			177 577	-11,89%	-10,78%
Total own	280 858	292 735	0	0	573 593	295 198	314 854	0	0	610 052	-7,03%	-5,98%
Outgrowers
Tolan Tiga Group	0	48			48	0	0			0	-	-
Umbul Mas Wisesa Group	132	132			264	0	18			18	635,26%	1366,67%
Agro Muko Group	3 328	4 918			8 246	3 441	3 501			6 942	40,49%	18,78%
South Sumatra Group	931	1 062			1 993	517	644			1 161	64,89%	71,66%
Hargy Oil Palms	48 242	54 737			102 979	46 628	64 674			111 302	-15,36%	-7,48%
Total outgrowers	52 632	60 898	0	0	113 530	50 586	68 837	0	0	119 423	-11,53%	-4,93%
Total FFB produced	333 490	353 633	0	0	687 123	345 784	383 691	0	0	729 475	-7,83%	-5,81%
Fresh fruit bunches sold	Q1	Q2	Q3	Q4	YTD	Q1	Q2	Q3	Q4	YTD	Q2	YTD
Tolan Tiga Group	0	0			0	0	0			0	-	-
Umbul Mas Wisesa Group	9 024	10 067			19 091	7 674	7 710			15 384	30,57%	24,10%
Agro Muko Group	0	1 370			1 370	0	0			0	-	-
South Sumatra Group	0	0			0	1 191	2 614			1 191	-100,00%	-100,00%
Total FFB sold	9 024	11 437	0	0	20 461	8 865	10 324	0	0	16 575	10,78%	23,44%
Fresh fruit bunches processed	Q1	Q2	Q3	Q4	YTD	Q1	Q2	Q3	Q4	YTD	Q2	YTD
Tolan Tiga Group	68 659	70 971 38 084	0	0 0	139 630	73 557 39 068	71 301 42 959	0	0 0	144 858	-0,46% -11,35%	-3,61% -5,55%
Umbul Mas Wisesa Group	39 389 78 044	80 419	0	0	77 473	87 721	94 136	0	0	82 027	-14,57%	-12,86%
Agro Muko Group	14 091	15 597	0	0	158 463	5 874	6 791	0	0	181 857	129,67%	134,41%
South Sumatra Group Hargy Oil Palms	124 283	137 125	0 0	0	29 688 261 408	130 699	158 180	0 0	0	12 665 288 879	-13,31%	-9,51%
Total FFB processed	324 465	342 197	0	0	666 662	336 919	373 367	0	0	710 286	-8,35%	-6,14%
PO extraction rate	Q1	Q2	Q3	Q4	YTD	Q1	Q2	Q3	Q4	YTD	Q2	YTD
Tolan Tiga Group	22,4%	22,6%			22,5%	22,7%	22,5%			22,6%	0,17%	-0,45%
Umbul Mas Wisesa Group	24,2%	23,1%			23,7%	24,5%	23,9%			24,1%	-3,17%	-1,58%
Agro Muko Group	23,5%	23,4%			23,5%	23,2%	22,8%			23,0%	2,67%	2,15%
South Sumatra Group	19,8%	20,2%			20,0%	15,1%	19,7%			17,6%	2,27%	13,88%
Hargy Oil Palms	22,2%	24,2%			23,2%	23,5%	24,6%			24,1%	-1,51%	-3,51%
Total PO extraction rate	22,7%	23,4%			23,1%	23,2%	23,6%			23,4%	-0,82%	-1,47%
Palm Oil	Q1	Q2	Q3	Q4	YTD	Q1	Q2	Q3	Q4	YTD	Q2	YTD
Own
Tolan Tiga Group	15 413	16 025			31 438	16 689	16 072			32 761	-0,29%	-4,04%
Umbul Mas Wisesa Group	9 519	8 781			18 300	9 572	10 259			19 831	-14,41%	-7,72%
Agro Muko Group	17 642	18 081			35 723	19 576	20 737			40 313	-12,81%	-11,39%
South Sumatra Group	2 687	2 861			5 548	821	1 158			1 979	147,06%	180,34%
Hargy Oil Palms	16 949	20 120			37 069	19 851	23 077			42 928	-12,81%	-13,65%
Total own	62 210	65 868	0	0	128 078	66 509	71 303	0	0	137 812	-7,62%	-7,06%
Outgrowers
Tolan Tiga Group	0	0			0	0	0			0	-	-
Umbul Mas Wisesa Group	32	29			61	0	4			4	625,00%	1425,00%
Agro Muko Group	730	766			1 496	750	750			1 500	2,13%	-0,27%
South Sumatra Group	105	284			389	64	181			245	56,91%	58,78%
Hargy Oil Palms	10 615	13 057			23 672	10 862	15 779			26 641	-17,25%	-11,14%
Total outgrowers	11 482	14 136	0	0	25 618	11 676	16 714	0	0	28 390	-15,42%	-9,76%
Total Palm Oil	73 692	80 004	0	0	153 696	78 185	88 017	0	0	166 202	-9,10%	-7,52%

Palm Kernels	Q1	Q2	Q3	Q4	YTD	Q1	Q2	Q3	Q4	YTD	Q2	YTD
Own
Tolan Tiga Group	3 855	3 576			7 431	4 118	3 927			8 045	-8,94%	-7,63%
Umbul Mas Wisesa Group	1 444	1 305			2 749	1 576	1 642			3 218	-20,52%	-14,57%
Agro Muko Group	3 561	3 602			7 163	4 310	4 369			8 679	-17,56%	-17,47%
South Sumatra Group	543	563			1 106	213	265			478	112,45%	131,38%
Total own	9 403	9 046	0	0	18 449	10 217	10 203	0	0	20 420	-11,34%	-9,65%
Outgrowers
Tolan Tiga Group	0	0			0	0	0			0	-	-
Umbul Mas Wisesa Group	4	5			9	0	1			1	400,00%	800,00%
Agro Muko Group	145	149			294	152	149			301	0,00%	-2,33%
South Sumatra Group	21	55			76	16	40			56	37,50%	35,71%
Total outgrowers	170	209	0	0	379	168	190	0	0	358	10,00%	5,87%
Total Palm Kernels	9 573	9 255	0	0	18 828	10 385	10 393	0	0	20 778	-10,95%	-9,38%
Palm Kernel Oil	Q1	Q2	Q3	Q4	YTD	Q1	Q2	Q3	Q4	YTD	Q2	YTD
Hargy Oil Palms Own	1 526	1 570			3 096	1 616	1 921			3 537	-18,27%	-12,47%
Hargy Oil Palms Outgrowers	986	1 219			2 205	926	1 377			2 303	-11,47%	-4,26%
Total Palm Kernel Oil	2 512	2 789	0	0	5 301	2 542	3 298	0	0	5 840	-15,43%	-9,23%
Rubber	Q1	Q2	Q3	Q4	YTD	Q1	Q2	Q3	Q4	YTD	Q2	YTD
Own
Tolan Tiga Group*	259	125			384	363	200			563	-37,50%	-31,79%
Melania	963	654			1 617	965	885			1 850	-26,10%	-12,59%
Agro Muko	600	467			1 067	686	622			1 308	-24,92%	-18,43%
Total own	1 822	1 246	0	0	3 068	2 014	1 707	0	0	3 721	-27,01%	-17,55%
Outgrowers
Tolan Tiga Group*	227	69			296	280	124			404	-44,35%	-26,73%
Total Rubber	2 049	1 315	0	0	3 364	2 294	1 831	0	0	4 125	-28,18%	-18,45%
Tea	Q1	Q2	Q3	Q4	YTD	Q1	Q2	Q3	Q4	YTD	Q2	YTD
Melania	738	574			1 312	595	590			1 185	-2,71%	10,72%
Total Tea	738	574	0	0	1 312	595	590	0	0	1 185	-2,71%	10,72%
Bananas	Q1	Q2	Q3	Q4	YTD	Q1	Q2	Q3	Q4	YTD	Q2	YTD
Azaguie 1	1 440	1 065			2 505	1 345	755			2 100	41,06%	19,29%
Azaguie 2	2 497	1 814			4 311	2 395	1 932			4 327	-6,11%	-0,37%
Agboville	2 349	2 455			4 804	2 038	1 872			3 910	31,14%	22,86%
Motobe	2 466	2 642			5 108	1 538	1 426			2 964	85,27%	72,33%
Total Bananas	8 752	7 976	0	0	16 728	7 316	5 985	0	0	13 301	33,27%	25,76%

*Tolan Tiga Group rubber production have been split into own and outgrower production. The outgrower production consists of production from PT Timbang Deli. The figures of prior year have been restated.

Commodity Price Data

June 2019

Average market prices
		YTD	YTD	YTD
Product		Q2/2019	Q2/2018	Q4/2018
CPO (CIF Rotterdam)*	in \$/mt	528	663	598
CPKO (CIF Rotterdam)*	in \$/mt	651	1 039	921
RSS3 (FOB Singapore)**	in \$/mt	1 730	1 698	1 565
Tea (avg auct Mombasa)**	in \$/mt	2 232	2 766	2 579
Bananas (CFR Europe)***	in €/mt	681	695	647

* Oil World price data

** World bank commodity price data - updated database

*** CIRAD price data (in EUR)

Bananas CFR Europe in €/mt