Olam Group Limited · SGX:VC2
Olam — Investor Presentation (September 2026)
46 slides from Olam's investor presentation, September 2026
Slide 1: From Vision to Value
Olam Group Limited From Vision to Value Subtitle and Date Investor Presentation, September 2026
Slide 2: Cautionary note on forward-looking statements
Cautionary note on forward-looking statements This presentation entitled “Olam Group Limited: From Vision to Value” may contain statements regarding the business of Olam Group Limited and its subsidiaries (“the Group”) that are of a forward-looking nature and are therefore based on management’s assu
Slide 3: Contents
CONTENTS 01 Unlocking value 02 Overview of operating groups 03 Group H1 2026 financial highlights 04 Governance 3 Olam Group Limited Investor Presentation | August 2026
Slide 4: Unlocking value
01. | Unlocking value
Slide 5: Re-organisation of Olam
Re-organisation of Olam We created 3 distinct operating groups OGH Differentiated global food, feed, and fibre agribusiness, (Olam Global Holdco) focused on high growth end consumption markets Value - added ingredients & Responsibly divest and solutions serving high growth Divested majority ownershi
Slide 6: Re-organisation Plan: Core building blocks
Re-organisation Plan Core building blocks 1. Create sharper focus by simplifying the portfolio: Separation of Olam Group into three distinct operating entities – ofi (Olam Food Ingredients), Olam Agri and OGH. 2. Attract the right, natural, long-term owners for each operating entity, who are fully a
Slide 7: Unlocking value for future growth
Unlocking value for future growth ofi to drive value by Successful divestment of A less complex, more focused and integration at-scale Olam Agri and Mindsprint financially stronger Focus on simplifying the portfolio, Continued focus on executing 2025 Re- Olam Group strengthening core businesses and
Slide 8: Overview of operating groups
02 Overview of operating groups 8
Slide 9: About ofi
ati woke i real About ofi
Slide 10: What brings ofi together
What brings ofi together Confectionery Integrated platforms d & Beverage Solutio combining a strong oo ts & S n en olutio redi Culinary Global Sourcing network F s Beverages ns n g and delivering value- I Spice Cocoa added Ingredients & s al Sourcin Solutions to customers Bakery lob Snacking G g Cat
Slide 11: What we do
What we do We source, process and deliver food ingredients & solutions to our customers globally….. that are good for consumers, farmers and the world around us….. F&B Cocoa Coffee Nuts Spices Dairy solutions Source Process Deliver Trace* Innovate Integration at Scale Global Sourcing Ingredients Sol
Slide 12: Who we serve
Who we serve We serve large, attractive and growing end-use categories… Bakery Beverages Chocolate & Dairy & Desserts Savory & Culinary Snacking Confectionery ..across a deep and diversified customer base. Consumer Food service / Private label E-commerce / packaged goods quick service small & medium
Slide 13: Where we do it
Where we do it We are present around the world …..and around the corner…… We’re renowned for 1 1 leveraging our global network and 22 21 3 4 local knowledge – in both producing 3 3 countries & Processing 1 5 1 19 2 1 1 3 9 1 2 1 1 destination markets, Sourcing 2 3 1 6 4 to offer a secure supply of t
Slide 14: OGH overview
AA Olam OGH overview
Slide 15: OGH overview
OGH overview Key assets Assets and Businesses already exited Largest fully RSPO certified palm Olam Palm Gabon Enterprise technology and digital 1 (OPG: 60%) plantation in Africa, with 63,000 Ha planted area, three mills and Mindsprint 100% business services arm. Completed sale to Wipro in May 2026.
Slide 16: Group H1 2026 highlights
03 Group H1 2026 highlights 16
Slide 17: Key highlights
Key highlights S$1.75 B S$1.9 B PATMI Total gains from two major Improved operating performance 7 cents milestones of the 2025 Re- Total dividend per share and stronger balance sheet organisation Plan Olam Agri Continuing businesses (ofi and OGH) 1 cent interim ordinary dividend Tranche 1 of the sal
Slide 18: Re-organisation update: changes to presentation of financial highlights
Re-organisation update | changes to the presentation of financial highlights Olam Agri: Following completion of the sale of a 44.58% stake to SALIC on April 27, 2026, Olam Agri ceased to be a subsidiary and is now held as an 18.19%¹ interest classified as held for sale. The transaction generated a o
Slide 19: Continuing operations at a glance
Continuing operations at a glance | H1 2026 vs H1 2025 Re-presented Volume & Revenue PATMI EBIT¹ 2.0 M MT S$12.5 B S$55.6 M S$455.0 M -9.6% -18.3% -66.1% -34.2% Free Cash Flow to Equity Operational PATMI¹ Gearing +S$1.7 B S$64.4 M From 2.09x to +S$2.6 B -61.5% 0.93x Note: 1. Excludes exceptional ite
Slide 20: Consolidated H1 2026 Results: Profit & Loss
Consolidated H1 2026 Results | Profit & Loss H1 2025 S$ million H1 2026 Change (%) Re-presented Highlights Volume ('000 MT) 2,006.2 2,218.4 (9.6) • Significant increase in PATMI due to total one- off gain of S$1.75 billion comprising gains Revenue 12,466.1 15,253.4 (18.3) from the disposal of 44.58%
Slide 21: Sales volume down 9.6% mainly on Jiva closure
Continuing operations H1 2026 results | Sales volume down 9.6% mainly on Jiva closure Volume growth by operating group ('000 MT) -9.6% 2,218 -34 2,006 -178 H1 2025 ofi OGH H1 2026 21 Olam Group Limited Investor Presentation | September 2026
Slide 22: Core operating profit declined 10% after adjusting for one-off forex gain
Continuing operations H1 2026 results | Core operating profit declined 10% after adjusting for one-off forex gain in H1 2025 EBIT¹ by operating group (S$ million) -34.2% 692 -26 -24 455 -187 H1 2025 Re- ofi OGH recurring OGH non-recurring H1 2026 presented Note. 1. EBIT excludes exceptional items. O
Slide 23: Operational PATMI at S$64.4 million
Continuing operations H1 2026 results | Operational PATMI at S$64.4 million, an increase of S$84.7 million over H1 2025 after adjusting for one-off forex gain Operational PATMI from continuing operations (S$ million) -61.5% 167 -50 136 12 64 -14 -187 H1 2025 Re- EBIT Recurring^ EBIT non- Net Finance
Slide 24: Net gearing at 0.93x
Consolidated H1 2026 results | Net gearing at 0.93x Invested capital decreased 14.5% or S$2.8 billion Invested Capital (IC, S$ million) Gearing (times) Net gearing -14.5% Adjusted net gearing 19,539 2.09 16,705 1.87 Working Capital Fixed Capital 11,221 8,324 0.92 0.93 0.55 8,318 8,381 0.12 Jun-25 Re
Slide 25: Balance sheet
Balance sheet S$ million Jun-2026 Jun-2025 Change Fixed Capital 7,614.5 7,600.6 13.9 Right-of-use assets 766.9 717.5 49.4 Working Capital 8,381.1 11,567.9 (3,186.8) Uses of Cash 2,277.9 1,566.9 711.0 Capital Others (62.6) (121.8) 59.2 Net Assets Held for Sale 1,115.8 1,993.4 (877.6) Total 20,093.6 2
Slide 26: Free cash flow: Strong, positive FCFE at S$1.7 billion
Free cash flow | Strong, positive FCFE at S$1.7 billion Free Cash Flow to Equity (FCFE) (S$ million) +2,610 226 1,665 785 2,237 72 -945 -710 H1 2025 Operating Changes in Tax Paid Net Capex / Net Interest H1 2026 Cash Flow Working Investments / Paid (before Capital Divestments Interest & Tax) Net Ope
Slide 27: Cash flow statement
Cash flow statement S$ million H1 2026 H1 2025 Change Operating Cash flow (before Interest & Tax) 883.6 1,593.1 (709.5) Changes in Working Capital 920.0 (1,317.1) 2,237.1 Net Operating Cash Flow 1,803.6 276.0 1,527.6 Net interest paid (572.4) (797.9) 225.5 Tax paid (71.7) (144.0) 72.3 Cash from dive
Slide 28: Sufficient liquidity with diversified pools of capital
Sufficient liquidity with diversified pools of capital Total borrowings and available liquidity (S$ million) as at June 30, 2026 Short-Term Long-Term 6,753 16,734 +5,575 11,159 7,345 358 6,163 2,278 4,996 Cash and RMI Secured Unutilised Available Total Short-term Receivables Bank Lines Liquidity Bor
Slide 29: ofi H1 2026 results
H1 2026 results ofi
Slide 30: A look-back at the last 5 years
A look-back at the last 5 years… Unprecedented, compounding events that fundamentally reshaped the sector... Covid-19 & Russia/Ukraine Rapid Inflation Volatile Geopolitics & trade barriers have Recovery War & Energy & Interest Rate commodity reshaped global supply & demand Price Hike Hikes Markets d
Slide 31: 2022 - 2025: ofi performance
2022 - 2025: ofi performance Adj EBIT Invested Capital S$ Million (Earnings Before Interest and Tax, adjusted for one-off costs) S$ Million Ingredients & Solutions Global Sourcing Working Capital Fixed Capital +12.7% CAGR +10.7% CAGR 1,071 1,070 17,361 15,645 829 747 11,546 11,754 758 736 11,492 9,8
Slide 32: H1 2026 context
H1 2026 context Volatility remained elevated across commodity price, rates, energy and geopolitics; ofi remained focused on capital efficiency, disciplined growth and supply chain resilience Cocoa, Coffee Middle East shock Rates remain Energy & inflation EUDR / traceability markets rebalance, & frei
Slide 33: ofi H1 2026 results
ofi H1 2026 results S$ Million S$ Million EBIT Invested Capital -4.9% Global Sourcing 536 510 Ingredients & Solutions -18.3% 33% 37% 16,968 13,861 36% 31% 67% 63% 64% 69% H1 2025 H1 2026 Jun-25 Jun-26 EBIT/MT (S$) 326 317 -4.9% Adjusted EBIT (S$) 555 528 • Invested capital reduced by 18.3% year-on-y
Slide 34: ofi: Global Sourcing
ofi: Global Sourcing S$ Million S$ Million EBIT +7.2% Invested Capital -28.2% Working Capital 190 6,031 178 Fixed Capital 4,330 4,204 2,590 1,827 1,740 H1 2025 H1 2026 Jun-25 Jun-26 EBIT/MT (S$) 133 169 +6.9% Adjusted EBIT (S$) 178 190 • Global Sourcing segment prioritized risk-adjusted returns and
Slide 35: ofi: Ingredients & Solutions
ofi: Ingredients & Solutions S$ Million S$ Million EBIT Invested Capital -10.8% Working Capital -12.8% 358 Fixed Capital 10,937 320 9,531 6,887 5,301 4,050 4,230 H1 2025 H1 2026 Jun-25 Jun-26 EBIT/MT (S$) 539 453 -10.5% Adjusted EBIT (S$) 377 337 • EBIT declined 10.8% against a strong H1 2025 compar
Slide 36: Key takeaways
Key takeaways Growing earnings & returns while navigating near term volatility 01 A resilient H1 2026 performance: stable EBIT and EBIT margins, despite substantially lower input prices and capital deployment 02 Improved capital efficiency, strong cash generation and higher net earnings Expect uncer
Slide 37: Looking ahead: Resilience, focus and agility matter more than ever
Looking ahead: Resilience, focus and agility matter more than ever Macro, consumer and technology trends are reshaping supply chains and customer needs Volatility & geopolitics ofi’s approach Commodity price volatility, trade barriers and geopolitical ✓ Simplify and focus the portfolio with uncertai
Slide 38: OGH H1 2026 results
OGH H1 2026 results S$ Million S$ Million EBIT Invested Capital 156 Working Capital +10.6% Fixed Capital 2,844 2,572 130 433 2,442 2,411 -55 H1 2025 H1 2026 Jun-25 Restated Jun-26 • Adjusting for the H1 2025 foreign exchange gain, OGH’s EBIT was • IC was up 10.6% or S$272.6 million year-on-year to S
Slide 39: Governance
O4 | Governance 39
Slide 40: Our shareholders
Our shareholders First listed on the Singapore Exchange in 2005, we are now listed as Olam Group Limited since March 16, 2022, supported by a diversified shareholder group with long-term investment horizon. Temasek Mitsubishi Kewalram Directors Other Institutional Holdings Corporation Chanrai and Pu
Slide 41: Governance: Board of directors
Governance Board of directors Olam Group Limited Investor Presentation | September 2026 41
Slide 42: Governance: Board and management structure
Governance Board and management structure Board of Directors Yap Chee Keong Chairman Dr Joerg Wolle Board Exco Lead Independent Director Dr Ajai Puri Tran Phuoc Simon Cooper Christian Chin Amanda Dinesh Yasuaki Yoshinori Shekhar Independent (Lucas) Independent Independent Sourry Khanna Matsuo Nagata
Slide 43: Board and four Board Committees oversee risk management
Governance Board and four Board Committees oversee risk management Olam Group Limited Investor Presentation | September 2026 43
Slide 44: Governance: Sustainability framework (1/2)
Governance: Sustainability framework (1/2) Olam Group Limited Investor Presentation | September 2026 44
Slide 45: Governance: Sustainability framework (2/2)
Governance: Sustainability framework (2/2) Olam Group Limited Investor Presentation | September 2026 45
Slide 46: Olam Group Limited Investor Presentation | September 2026
Olam Group Limited Investor Presentation | September 2026 olamgroup.com/investors.html ir@olamnet.com 46