Acquisition of further hectarage

M.P. Evans, a producer of sustainable Indonesian palm oil, is pleased to announce the acquisition of additional planted and plantable land to further extend its Kota Bangun project in East Kalimantan. On 8 September 2026, the Group's wholly owned subsidiary, PT Evans Indonesia, completed the acquisition of the Indonesian plantation company PT Kalimantan Wahana Berjaya ("KWB") for a total consideration of US$2.0 million.

KWB has 776 hectares planted to oil palm, which require some amount of rehabilitation or replanting. Based on Group estimates, KWB has up to 450 hectares of additional land suitable for planting in accordance with environmental guidelines.

At the same time as acquiring KWB, the Group's wholly owned subsidiary PT Nusantara Agro Sentosa has secured the initial land rights over an adjacent parcel of land of 3,600 hectares, known as Long Nah. Survey work performed in accordance with the Group's approach to responsible development indicates that approximately 2,000 hectares can be developed to oil palm there.

As the Group works to rehabilitate, plant, and bring to maturity, the palms at both KWB and Long Nah, the total planted area at the Group's Kota Bangun project may expand by more than 3,000 hectares. Over time, the total investment in the new areas is expected to be US$20-25 million, representing a cost per planted hectare of approximately US$7-8,000.

M.P. Evans Group PLC chief executive Matthew Coulson commented on the acquisition:

"This new hectarage, close to our existing Kota Bangun project in East Kalimantan, provides a further source of long-term production growth. Its location means that crop from the new areas can be processed through the Group's existing mills, supporting our strategy of processing more of our own crop and making efficient use of our milling capacity."