First Resources Ltd. (singapore) · SGX:EB5

First Resources Ltd. (singapore) — First Resources — Shareholder Meeting (April 2011)

17 slides from First Resources Ltd. (singapore)'s shareholder meeting presentation, Apr 28, 2011

1. Slide 1: First Resources Limited Annual General Meeting

   First Resources Limited Annual General Meeting 28 April 2011 Delivering Growth and Returns

2. Slide 2: Table of Contents

   Table of Contents Group Overview 3 2010 Financial and Operational Highlights 8 Group Updates 12 Appendix - Supplemental Information 14 2

3. Slide 3: Group Overview

   Group Overview RESOURCES

4. Slide 4: A Fast-Growing Oil Palm Plantation Group

   A Fast-Growing Oil Palm Plantation Group Assets Locations Operations are located in the Riau and West Kalimantan provinces of Indonesia  120,830 ha of plantations  Nucleus: 107,664 ha  Plasma: 13,166 ha  8 palm oil mills  3 more mills under construction  Midstream processing facilities Data as

5. Slide 5: Consistent and Disciplined Expansion

   Consistent and Disciplined Expansion Consistent Growth in Asset Base to Expand Production Potential Planted Area (ha) 140,000 120,000  Disciplined approach to new planting a key driver to 100,000 sustainable production growth. 80,000  Committed to expanding 60,000 plantation size and expanding 40,

6. Slide 6: Strong Growth Profile

   Strong Growth Profile Strong growth expected from existing plantation assets due to young age profile Young Plantation Profile Expected Growth from Existing Asset Base Old CPO Production 1% (‘000 tonnes) Prime Immature 800 44% 35% 700 Estimated production potential 600 Young 20% 500 400 368.6 376.9

7. Slide 7: 5-Year Strategy: Focused on our Core Expertise

   5-Year Strategy: Focused on our Core Expertise Expand  To continue a disciplined and diligent planting programme – key to Plantation ensuring sustainable production growth Footprint  Long-term target of producing one million tonnes of CPO per annum  To maintain our low-cost structure through best

8. Slide 8: 2010 Financial and Operational Highlights

   2010 Financial and Operational Highlights

9. Slide 9: Income Statement Highlights

   Income Statement Highlights US$ million FY2010 FY2009 Change Sales 329.9 218.9 50.7% Gross profit 212.2 130.5 62.6% Gains arising from changes in fair value of biological 49.5 44.3 11.8% assets Profit from operations 237.0 156.4 51.5% EBITDA(1) 203.7 121.9 67.2% Net profit(2) 143.1 112.5 27.2% Under

10. Slide 10: Balance Sheet Highlights

    Balance Sheet Highlights US$ million 31 Dec 2010 31 Dec 2009 Total Assets 1,235.1 1,012.6 Cash and bank balances 209.0 179.6 Total Liabilities 490.2 419.8 Interest Bearing Debts(1) 305.7 285.3 Total Equity 744.9 592.8 Net Debt(2)/Total Equity 0.13x 0.18 x Net Debt(2)/EBITDA 0.47x 0.85 x EBITDA/Inter

11. Slide 11: Production Highlights

    Production Highlights FY2010 FY2009 Change Production FFB Total (tonnes) 1,584,910 1,544,332 2.6% FFB Nucleus 1,447,595 1,393,384 3.9% FFB Plasma 137,315 150,948 (9.0%) CPO (tonnes) 376,922 368,631 2.2% PK (tonnes) 85,650 84,393 1.5% Efficiency FFB Yield (tonnes/ha) 20.2 21.5 CPO Yield (tonnes/ha) 4

12. Slide 12: Group Updates

    Group Updates RESOURCES

13. Slide 13: Planned Capital Investments in FY2011

    Planned Capital Investments in FY2011  New plantings  Target new plantings of 15,000 ha  Maintenance of immature plantations  New CPO Mills  Kernel Crushing Plant  Jetty and Bulking Facility  Completion of landbank acquisition in East Kalimantan  Additional landbank to support future plantin

14. Slide 14: Appendix – Supplemental Information

    Appendix – Supplemental Information

15. Slide 15: Plantation Area

    Plantation Area Investing for growth – added 11,913 ha in 2010 As at 31 Dec 2010 As at 31 Dec 2009 Change Area (ha) % of Total Area (ha) Area (ha) Planted Nucleus 107,664 89% 96,858 10,806 - Mature 69,404 57% 63,684 5,720 - Immature 38,260 32% 33,174 5,086 Planted Plasma 13,166 11% 12,059 1,107 - Ma

16. Slide 16: Age Profile

    Age Profile As at 31 Dec 2010 Age Profile Old Age Area (Ha) % of Total 1% 0-3 years (Immature) 42,203 35% Prime Immature 44% 35% 4-7 years (Young) 23,754 20% 8-17 years (Prime) 53,375 44% ≥ 18 years (Old) 1,498 1% Young 20% Total 120,830 100% Weighted average age of ~ 8 years 16

17. Slide 17: Disclaimer

    Disclaimer This presentation has been prepared by First Resources Limited (“Company”) for informational purposes, and may contain projections and forward-looking statements that reflect the Company’s current views with respect to future events and financial performance. These views are based on curr

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