Share Buyback Programme

6 July 2026

AEP Plantations Plc

("AEP" or the "Company")

Share Buyback Programme

AEP Plantations plc, which owns, operates and develops palm plantations in Indonesia and Malaysia, is pleased to announce that it will commence a new share buyback programme (the "Programme") with effect on 6 July 2026. This follows the completion of the share buyback programme on 15 June 2026 that was previously announced on 6 January 2026.

The Programme will have a quantum of up to £8 million (in aggregate) to be used to buy back AEP's ordinary shares of 2.5 pence each ("Shares") in the market over the course of the period from the date of this announcement until 30 June 2027 or, if earlier, on the date of the Company's 2027 annual general meeting ("AGM") ("Expiry Date").

The Board continues to believe that the Shares are undervalued relative to AEP and its subsidiaries' ("Group") strong fundamentals and growth potential. By repurchasing Shares, AEP aims to enhance earnings per share and deliver greater value to remaining shareholders.

In order to implement the Programme, and consistent with the terms of the previous share buyback programme, AEP has entered into an agreement with Cavendish Capital Markets Limited ("Cavendish") on the following basis:

· Cavendish will manage the purchases on a discretionary basis, purchasing Shares within certain pre-set parameters and making its trading decisions independently of, and uninfluenced by the Group. Purchases may therefore continue during any closed periods of the Group.

· The Programme will operate under the authority granted to the Group by its shareholders at the Group's most recent AGM, held on 15 June 2026.

· Any Shares purchased will be held as treasury shares.

· The Group has authorised the Programme to commence with immediate effect and will continue whilst it retains the authority from its shareholders to repurchase Shares until the Expiry Date.

· AEP's shareholders should be aware that the Programme may on any given trading day represent a significant portion of the daily traded volume in AEP's Shares on the London Stock Exchange, and the Company expects daily volumes may exceed 25% of the average daily traded volume on the London Stock Exchange. Accordingly, the Group may not benefit from the exemption contained in Article 5(1) of Market Abuse Regulation ("MAR").

· Outside of the above, the Programme will be conducted in accordance with the other safe harbour parameters as prescribed by MAR.

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