FGV : 2Q FY2022 Quarterly Results Briefing

FGV HOLDINGS BERHAD

Financial Results Briefing 2nd Quarter FY2022

30 Aug 2022

DISCLAIMER

These materials have been prepared by FGV Holdings Berhad ("FGV" or the "Company") solely for informational purposes, and are strictly confidential and may not be taken away, reproduced or redistributed to any other person. By attending this presentation, participants agree not to remove this document from the conference room where such documents are provided without express written consent from the Company. Participants agree further not to photograph, copy or otherwise reproduce these materials at any point of time during the presentation or while in your possession. By attending this presentation, you are agreeing to be bound by the foregoing restrictions. Any failure to comply with these restrictions may result in a violation of applicable laws and commencement of legal proceedings against you.

It is not the Company's intention to provide, and you may not rely on these materials as providing, a complete or comprehensive analysis of the Company's financial position or prospects. The information contained in these materials has not been independently verified and is subject to verification, completion and change without notice. The information contained in these materials is current as of the date hereof and are subject to change without notice, and its accuracy is not guaranteed. The Company is not under any obligation to update or keep current the information contained in these materials subsequent to the date hereof. Accordingly, no representation or warranty, express or implied, is made or given by or on behalf of the Company, or any of its directors and affiliates or any other person, as to, and no reliance should be placed for any purposes whatsoever on, the fairness, accuracy, completeness or correctness of, or any errors or omissions in, the information contained in these materials. Neither the Company, its directors, officers or employees nor any other person accepts any liability whatsoever for any loss howsoever arising from any use of these materials or their contents or otherwise arising in connection therewith.

These materials contain historical information of the Company which should not be regarded as an indication of future performance or results. These materials may also contain forward-looking statements that are, by their nature, subject to significant risks and uncertainties. These forward-looking statements reflect the Company's current views with respect to future events and are not a guarantee of future performance or results. Actual results, performance or achievements of the Company may differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future, and must be read together with such assumptions. Predictions, projections or forecasts of the economy or economic trends of the markets are not necessarily indicative of the future or likely performance of the Company, and the forecast financial performance of the Company is not guaranteed. No reliance should be placed on these forward-looking statements, if any.

2

TODAY'S AGENDA

Pg. Executive Summary 3

Pg.	2Q FY2022 Results
5

Pg.	Business Updates
17

3

EXECUTIVE SUMMARY

Malaysia's GDP is targeted to continue its recovery momentum in FY2022, with a projected growth of 5.3% to 6.3% (BNM report, 12 August 2022) amid concerns over a slower global economic growth rate of 3.2% this year.

The country's total CPO production is expected to improve slightly to 18.5 mn MT in FY2022 despite the 1H FY2022's production being 1% lower than 1H FY2021 due to seasonal factors, as well as assumptions on the increase in matured planted areas and favourable weather conditions.

The prolonged Russia-Ukraine conflict and low supply of substitute edible oils globally are expected to support the year's CPO forecast price range from RM4,500/MT to RM5,000/MT despite the recent sharp decrease in prices caused by Indonesia's policy shift.

As of July, FGV estate workers' coverage stands at 62%. In addressing the labour shortage issue, the Group actively recruits workers from host countries, such as Indonesia and India, and has recently received 647 foreign workers from India.

On the sustainability front, according to the recent FLA report, no non-compliances were identified based on the FLA forced labour benchmark as FGV is making significant progress in its business operations. The RSPO Complaints Panel has also lifted the suspension of certification for FGV's Serting Mill and its supply bases in July 2022.

Overall, FGV recorded a PATAMI of RM374 mn in the 2Q FY2022, an increase of 10% from RM339 mn reported last year. The Group's PATAMI for the 1H FY2022 increased significantly to RM743 mn, on the back of RM13,281 mn in revenue.

The Board has approved an interim dividend payment of 4.0 sen per share, for a total dividend payout of RM146 mn.

4

TODAY'S AGENDA

Pg. Executive Summary 3

Pg.	2Q FY2022 Results
5

Pg.	Business Updates
17

5