Indonesian Export Levy Update

About this update from M.p. Evans Group Plc

M.P. EVANS GROUP PLC ("Company", "Group" or "M.P. Evans")   INDONESIAN GOVERNMENT ANNOUNCES REDUCTION IN 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 export levy for crude palm oil ("CPO"), which are effective immediately. Previously, the levy was charged at graduated amounts, increasing in US$50 per tonne bands. This approach is being replaced with a lower 7.5% export levy. As before, the levy is set monthly based on a reference price connected to the global CPO commodity price. There is no change to the separate export tax which continues to be charged in increasing amounts at each US$50 per tonne price band.   The combined effect of the export tax and levy prior to the change is shown in table 1 in the Annex, with table 2 showing the position after the amendment, including the levy as a result of the new approach. At all prices shown in the table, the amendment leads to a reduction in the export levy charged by the Indonesian government.   As reported in the Company's 2024 interim report, published on 16 September 2024, the Group continues to receive higher mill-gate prices than the US$771 per tonne average in the first half of the year, with current pricing well in excess of US$800 per tonne.   Whilst not expecting a material impact from the changes to the export levy, management will continue to monitor the pricing environment in the coming months as the new arrangements are introduced.   Enquiries:   M.P. Evans Group PLC Telephone: +44 (0) 1892 516333 Peter Hadsley-Chaplin, chairman Matthew Coulson, chief executive Luke Shaw, chief financial officer Cavendish Capital Markets (Nomad and broker) Telephone: +44 (0) 20 7220 0500 Matt Goode, George Lawson (Corporate finance) Tim Redfern, Harriet Ward (ECM) Hudson Sandler (Financial PR) Telephone: +44 (0) 20 7796 4133 Charlie Jack, Francis Kerrigan, Francesca Rosser       ANNEX Table 1 - combined export tax and levy prior to change (US$ per tonne) Reference price       Net price at top of From To  Levy Tax  Total band 0 680 55 55 625 681 730 65 3 68 662 731 780 75 18 93 687 781 830 85 33 118 712 831 880 90 52 142 738 881 930 95 74 169 761 931 980 100 124 224 756 981 1,030 105 148 253 777 1,031 1,080 110 178 288 792 1,081 1,130 115 201 316 814 1,131 1,180 120 220 340 840 1,181 1,230 140 240 380 850 1,231 1,280 160 250 410 870 1,281 1,330 180 260 440 890 1,331 1,380 200 270 470 910 1,381 1,430 220 280 500 930 1,431 and above 240 288 528   Table 2 - new combined export tax and levy (US$ per tonne) Reference price       Net price at top of Saving to prior From To  Levy Tax  Total band structure 0 680 51 51 629 4 681 730 55 3 58 672 10 731 780 59 18 77 703 16 781 830 62 33 95 735 23 831 880 66 52 118 762 24 881 930 70 74 144 786 25 931 980 74 124 198 782 26 981 1,030 77 148 225 805 28 1,031 1,080 81 178 259 821 29 1,081 1,130 85 201 286 844 30 1,131 1,180 89 220 309 871 31 1,181 1,230 92 240 332 898 48 1,231 1,280 96 250 346 934 64 1,281 1,330 100 260 360 970 80 1,331 1,380 104 270 374 1,006 96 1,381 1,430 107 280 387 1,043 113 1,431 and above 288      

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