Consolidation of Holdings-Indonesian Subsidiaries

4 October 2024

Anglo-Eastern Plantations Plc

("AEP", "Group" or "Company")

Consolidation of AEP's Holdings in its Indonesian Subsidiaries

Anglo-Eastern Plantations Plc, which owns, operates and develops plantations in Indonesia and Malaysia, is pleased to announce the completion of the acquisition of the remaining minority interests in the following Indonesian subsidiaries from PT Malindo Plantation Management Services for a total consideration of US$400,000.

·    5% of the issued share capital of PT Bangka Malindo Lestari ("BML")

·    0.5% of the issued share capital of PT Kahayan Agro Plantation ("KAP")

Following these transactions, the Company owns 100% of the issued share capital of all its subsidiaries in Indonesia and has fulfilled the Group's objective of consolidating AEP's holding in its Indonesian subsidiaries with the Group's cash resources.

For further enquiry, contact:

Anglo-Eastern Plantations Plc          +44 (0)20 7216 4621

Dato' John Lim Ewe Chuan                             Executive Director

Marcus Chan Jau Chwen                    Executive Director (Corporate Affairs)

Kevin Wong Tack Wee                                     Group Chief Executive Officer

Panmure Liberum                                  +44 (0)20 3100 2000

Amrit Mahbubani

Freddie Wooding