New Britain Palm Oil (Group)

Robert K. Nilkare

Country Manager, NBPOL Papua New Guinea

President, Business Council of Papua New Guinea

Andy Worrall

Head of EMEA, Sime Darby Plantations Downstream

& Group Commercial Director, NBPOL

2

Disclaimer

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This document, which is personal to the recipient (“Recipient”), has been prepared by New Britain Palm Oil Limited (the “Company”). This document does not constitute or form

part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for any securities, nor shall any part of it nor the fact of its distribution form

part of or be relied on in connection with any contract or investment decision relating thereto, nor does it constitute a recommendation regarding the securities of the Company

or any other entity. Prospective investors are required to make their own independent investigations and appraisals before taking any investment decision. In making this

document available to the Recipient the Company is not agreeing to take or refrain from taking any action in future or to undertake, or cease to undertake, any activity. Any

recipient who is in any doubt about the matters referred to herein should take advice from an authorised person specialising in advising on matters of this kind.

No representation or warranty, express or implied, is given by or on behalf of the Company or any of such persons’ directors, officers or employees or any other person as to the

accuracy, fairness of the presentation, completeness of the information or opinions contained in this document. No liability whatsoever is accepted by the Company or any of

such persons’ members, directors, officers or employees nor any other person for any loss howsoever arising, directly or indirectly, from any use of such information or opinions

or otherwise arising in connection therewith.

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Certain statements, beliefs and opinions in this document are forward-looking, which include all statements other than statements of historical facts, including, without limitation,

any statements preceded by, followed by or including the words “targets,” “believes,” “expects,” “aims,” “intends,” “may,” “anticipates,” “would,” “could” or similar expressions or

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nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed

or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events

described herein. Such forward-looking statements are based on numerous assumptions regarding present and future business strategies. Forward-looking statements

contained in this document regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. The Company does

not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should not place undue

reliance on forward looking statements, which speak only as of the date of this document.

2018

Contents

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1 Overview

2 Introduction

3 Brief History

4 NBPOL Operations

5 Business Model

6 NBPOL Supply Chain

7 Sustainable Agriculture

Overview

Introduction

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Worldwide LocationsNew Britain Palm Oil Limited (NBPOL) is a large scale,

fully vertically integrated, industrial producer of

sustainable palm oil, headquartered in PNG

One of the world’s largest producers of sustainable

palm oil delivering 100% segregated, traceable and

certified sustainable food ingredients direct to our

customer base

▪ c.95%+ of NBPOL’s output is sold to EU

customers

Founding member of the Palm Oil Innovation Group

(POIG) and instrumental in developing the Roundtable

on Sustainable Palm Oil (RSPO)

First palm oil company to include all of its smallholders

in the RSPO certification process

c. 25,000 employees world-wide

NBPOL is now part of the Sime Darby group of

companies

United Kingdom

Papua New Guinea

Solomon Is.

Singapore

Indonesia

Overview

Resource

• 136,268ha Agriculture Land Holding

• 80,000ha Oil Palm Estates

• 42,000ha Oil Palm Smallholders

• 7,700ha Sugar Cane

• 9,300ha Cattle Grazing supporting 20,000 Head of Cattle

People

• NBPOL Group employs 25,000 people.

• NBPOL PNG employs 23,000 people

• 112,500 family members are direct beneficiaries

• 17,394 PNG Smallholder Blocks (plus 216 from Solomon Islands)

• Represents 323,750 smallholder family members as direct beneficiaries

Sustainability

• One of the world’s largest producers of sustainable palm oil delivering 100% segregated, traceable and certified sustainable food ingredients direct to our customer base

• 95% of NBPOL’s output is sold to EU customers

• Instrumental in developing the Roundtable on Sustainable Palm Oil (RSPO) & now becoming Rainforest Alliance certified

• First palm oil company to include all of its smallholders in the RSPO certification process

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IntroductionLocations

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Oil palm nursery, WNB

Oil palm estate, WNB

PAPUA

NEW

GUINEANEW BRITAIN

SOLOMON ISLANDS

NEW IRELANDKPOL, Poliamba

- acquired in April 2010

5,665 hectares oil palm

Main area of

NBPOL operation

36,985 hectares oil palm

GPPOL

- acquired in April 2005

6,283 hectares oil palm

KPOL, Milne Bay

- acquired in April 2010

10,968 hectares oil palm

Orangerie Bay Plantations

- acquired in July 2012

c. 5,350 hectares

KPOL, Higaturu

- acquired in April 2010

9,228 hectares oil palm

RAIL

- acquired in Oct 2008

12,421 hectares oil palm

7,515 hectares sugar cane

8,751 hectares pasture

AUSTRALIA

1995 99-year leases

signed for Mosa

block, WNB

1996 Kulim (Malaysia)

Berhad acquires

90% shareholding

in NBPOL

1999 NBPOL listed on

Port Moresby

Stock Exchange

2004 NBPOL becomes

a founding

member of RSPO

2006 Acquisition of

GPPOL, Solomon

Islands

2007 NBPOL listed on

Main Market of

London Stock

Exchange

2008 West New Britain

and its 7,000

smallholders

achieve RSPO

certification

2008 Acquisition of

RAIL

2009 Ferrero supply

agreement and

construction of

frac plant

2010 Acquisition of

Kula Group

2010 Commissioning

of Liverpool

refinery

2015 Completion of

£1.073 billion

takeover offer for

NBPOL by Sime

Darby Plantation

Sdn Bhd

2015 NBPOL delisted

from London

Stock Exchange

and Port

Moresby Stock

Exchange

2012 Commissioning

of Liverpool

bakery fats

facility

2012 Acquisition of

Vitroplant

Orangerie Bay

Ltd

2012 RSPO

certification of all

Group estates

and smallholders

2013 Partial takeover

offer by Kulim

2013 Joint venture

with SIPEF and

BioSing to

develop F1

hybrids

1960s Land acquisition

by Dept of

Agriculture for

the PNG

Administration

1967 New Britain Palm

Oil Development

Limited

incorporated

(later renamed

NBPOL)

1985 Establishment of

Kapiura estates,

WNB

1990 Establishment of

Numundo

estates, WNB

Brief History

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NBPOL has achieved consistent growth over its 50 year history

NBPOL Operations

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Monthly Revenue

US$30-40million (Avg)

CPO Production FY2017

521k metric tonnes

Total Land Bank

136,268 hectares

PKO Production FY2017

53k metric tonnes

FFB Production FY2017

2.33m metric tonnes

Sugar Production FY2017

31k metric tonnes

Palm Oil Segment

c.80,000 Ha NBPOL

managed estates

c.42,500 Ha smallholders

supplying NBPOL

c.635 MT/Hr total milling

capacity

c.440,000 MTs total refining

capacity

Seeds Segment (and Other)

Dami Seeds - one of the

world’s largest private seed

producers

52% stake in Verdant

Bioscience

Revenue

Contribution

FY2014

Cattle Segment

9,282 hectares of cattle

grazing land

Integrated with palm oil

plantation

>20,000 head of cattle

Sugar Segment

7,718 hectares sugar cane

1 sugar mill

1 ethanol plant

Ramu Sugar retail brand

7%90%

2%1%

Note: Seeds segment includes revenue from the sale of rubber products and ethanol. Figures estimates as at 31 December 2017. 2015

year end c.1,500 Ha of sugar cane has been converted to oil palm.

Fully Integrated Business ModelAcross the palm oil value chain

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Seed breeding

Plantations Processing Origin refiningLogistics, export and

trading

Destination refining

End markets

DownstreamMidstream and RefiningUpstream

Seed

breeding/

cloning

Seed

production

and salesAc

tivit

ies

Op

era

tin

g U

nit

New Britain

Plantation

Services Pte Ltd

c. 80,000 ha

planted oil

palm

c.42,500 ha

smallholder

land supplying

NBPOL mills

Staff housing

12 CPO mills

6 kernel

crushing plants

Total milling

capacity c.635

MT FFB/Hr

2 methane

capture plants

140,000 MT

refinery at

Kumbango,

PNG

Fractionation

plant (Ferrero)

Trucking

transport fleet

Export terminals

80,000 MTs oil

storage

In-house

shipping, trading

and risk mgm’t

300,000 MT

refinery at

Liverpool, UK

Bakery fats

plant at

Liverpool

Significant

market share

in UK and

Ireland

Supplying

major food

brands

NBPOL Supply Chain

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A unique supply chain – fully integrated and low cost…

…delivering 100% segregated, traceable and certified sustainable food ingredients

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Corporate and Product Integrity

RSPO certification and responsible supply chains

Traceability

Transparency and anti-corruption

Report on Social, Labour and Environmental

Performance

Partnerships with Communities

Free, Prior and Informed Consent (FPIC) of

indigenous peoples and local communities

Food security

Effective conflict resolution

Social conditions

Workers’ rights

Support of palm oil smallholders

Environmental Responsibility

Breaking the link between palm oil expansion and

deforestation

Greenhouse gas (GHG) accountability

Protect and conserve wildlife

Pesticides use minimisation and chemical fertiliser

Water accountability

GMOs prohibition

Peat land planting prohibition

NBPOL APPROACH TO SUSTAINABLE AGRICULTURE

Sustainable AgricultureOur Approach: Sustaining People, Planet and Prosperity

Building 100% segregated, traceable and certified sustainable supply chains is core to our business philosophy

Sustainability certification is not a ‘cost of doing business’ – rather a way to differentiate our business in a commoditised industry and

satisfy customer requirements

NBPOL has a long history of industry leadership and innovation in sustainable palm oil

Active engagement with all stakeholder groups: employees, customary landowners, smallholders, community groups,

customers/consumer groups, investors, Governments, NGOs

Committed to achieving tangible objectives, not just policies – a ‘Principle-to-Practice’ approach

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Sustainable AgricultureCarbon Reduction

Methane Capture Plant

Carbon Analysis: Sources of emissions at NBPOL

Land clearing

66%

Planting on peat0.4%

Palm Oil Mill Effluent

26%

Nitrogenous fertiliser

3%

Mature fertiliser transport

3%

Fuel in transport

1% Mill diesel use

0.6%

0%Cambodia0.5%

No burn policy (since 1967) and no planting on peat land

Detailed strategy to reduce the Group’s carbon footprint and achieve

the ‘Zero Net GHG Emissions’ commitment

Active planting on grasslands and scrub (net sequestration)

▪ Oil palm sequesters carbon from the environment and locks it

up in the biomass of trunk, fruit bunches and fronds

▪ Total standing carbon contained in palm trees in West New

Britain is calculated to be 80.31 tonnes of carbon per hectare

at 21 years

▪ On average, oil palms in West New Britain add 4.06 tonnes of

carbon per hectare per year producing a time averaged

sequestration rate of 14.89 t CO2eq /ha/year

Two methane capture projects have been commissioned and further

internal power generation capacity is in preliminary development

stages

NBPOL also operates a 5MW biomass power plant at Kumbango

reducing diesel requirements at this site by ~1 million litres p.a.

Thank you!