Deal #2236 Version #57367

Awala Plantation

Olam Palm Gabon has entered into a sale of long term lease rights of land and a sale and lease-back of plantation and milling assets, comprising 20,030 hectares of total land area in Awala, Gabon for a cash consideration of US$130.0 million with YCAP Asset Management (“YCAP”). Under this agreement, YCAP holds the rights to the long term leases on the land. The agreement is valid for a period of 18 years, extendable for another three years at the request of either party. OPG retains the right to operate the palm plantation and mill in Awala and will therefore continue to participate in the production economics of the palm plantation without the asset intensity - see more at: http://olamgroup.com/news/olam-palm-gabon-enters-sale-long-term-lease-rights-land-sale-lease-back-plantation-milling-assets-awala-us130m/#sthash.QATp3sg6.dpuf This transaction was not completed according to a circular dated 5 May 2020 (https://links.sgx.com/FileOpen/Olam%202020%20Update%20-%20Offering%20Circular%20dated%205%20May%202020.ashx?App=Prospectus&FileID=43142)