Indonesian commodity exporting

M.P. Evans, a producer of sustainable palm oil, notes today's announcement by the President of Indonesia, Prabowo Subianto, regarding proposed changes to the export of crude palm oil and other commodities. At this stage, the detailed implementing regulations have not yet been published, and the Group is monitoring developments closely with its local management team, advisers and industry partners.

The Group's operations are fully compliant with Indonesian laws and regulations, and it has longstanding relationships with local stakeholders and government authorities. All the Group's output is sold locally in Indonesia, and a significant part of Indonesian production is consumed domestically. Any changes to export mechanisms will not have a direct impact on the Group. There may be some indirect impact as prices available for the Group's output adjust to take account of new arrangements.

The Board remains confident in the long-term fundamentals of the Indonesian palm oil sector and in the resilience and efficiency of the Group's operations. The Board will provide further updates should it be necessary to do so.