M P Evans Regulatory News (MPE)

M.P. EVANS GROUP PLC

("the Group" or "M.P.Evans")

INDONESIAN GOVERNMENT ANNOUNCES REVISIONS TO EXPORT LEVY

M.P.Evans Group PLC, a producer of sustainable Indonesian palm oil, notes the recent announcement by the Indonesian government regarding changes to its palm-oil export levy, which are effective immediately. The first revision, effective until 31 August 2022, eliminates the export levy completely, leaving only the export tax, as shown in table 1 in the Annex. This results in a reduced tax burden of between US$55 and US$240 per tonne depending on the date and reference price used. The Indonesian government will continue to charge the US$200 per tonne export tariff until 31 July 2022.

From 1 September 2022, the Indonesian government has published a new levy structure, as shown in table 2 in the Annex. The updated levy varies with the CPO price, reducing from the previously published structure by up to US$90 per tonne when the CPO reference price is between US$1,201 and US$1,250 per tonne.

Management will continue to monitor the situation closely as the new arrangements come into force.

19 July 2022

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ANNEX

Table 1 - updated structure to 31 August 2022

Table 2 - updated structure from 1 September 2022

*Based on the prior structure effective to the end of July 2022.