Annual Report 2025

ANNU AL REPORT 2025

OVERCOMING

ADVERSITY

WHO WE ARE

ANNUAL REPORT 2025 1

EXCELLENCE

We strive for excellent performance in everything we do.

TEAMWORK

We work as one team to achieve our corporate goals.

CONTENTS

1 Who We Are

2 Chairman's Message

6 Overcoming Adversity

16 Our Global Operations

PERFORMANCE

17 Performance Overview

18 Financial Highlights

20 What We Do

22 Operations Review

27 Investor Relations

GOVERNANCE

48 Board of Directors

56 Supplemental Information on Directors Seeking Re-Election

60 Key Management Team

61 Corporate Information

62 Risk Management

64 Corporate Governance

FINANCIAL STATEMENTS

102 Financial Statements

PASSION

We are passionate about growing our business globally.

OUR CORE VALUES

In our commitment to excellence, we are guided by a set of values that defines who we are and the way we work.

INNOVATION

We value innovative efforts, ideas and methods to continually improve our business processes.

30 Human Capital Management

31 Information Technology

32 Awards & Accolades

36 Sustainability

SAFETY

We pay careful consideration to the health and safety of our employees at the workplace.

INTEGRITY

We value honesty, trustworthiness and high ethical standards.

Wilmar International Limited, founded in 1991 and headquartered in Singapore, is today Asia's leading agribusiness group. Wilmar is ranked amongst the largest listed companies by market capitalisation on the Singapore Exchange.

At the core of Wilmar's strategy is an integrated agribusiness model that encompasses the entire value chain of the agricultural commodity business, from origination, to processing, branding, merchandising and distribution of a wide range of edible food and industrial products. The Group's business activities include oil palm cultivation, oilseed crushing, edible oils refining, flour and rice milling, sugar milling and refining, manufacturing of consumer

products, ready-to-eat meals, central kitchen products, specialty fats, oleochemicals, biodiesel and fertilisers as well as food park operations. It has over 1,000 manufacturing plants and an extensive distribution network covering China, India, Indonesia and some 50 other countries and regions. Through scale, integration and the logistical advantages of its business model, Wilmar is able to extract margins at every step of the value chain, thereby reaping operational synergies and cost efficiencies.

Supported by a multinational workforce of about 100,000 people, Wilmar embraces sustainability in its global operations, supply chain and communities.

2 WILMAR INTERNATIONAL LIMITED ANNUAL REPORT 2025 3

CHAIRMAN'S MESSAGE

FY2025 IN REVIEW

2025 was a challenging year for the Group, as we operated in a complex global environment facing headwinds across several markets. Among these were allegations of misconduct, which we categorically refute. The Group has consistently complied with all applicable laws and regulations and maintains rigorous governance standards across its operations. We would not jeopardise the significant investments and strong reputation carefully built over decades for any unlawful gain.

Operating globally with a manufacturing presence in over 36 countries and regions, we recognise the importance of embedding the highest ethical principles throughout our Group. This is essential to safeguard trust and ensure sustainable growth.

Navigating Global Challenges

Geopolitical tensions, trade tariffs and evolving regulatory landscapes have required us to adapt our supply chain and business model. Leveraging our global manufacturing and distribution network, supported by a dedicated and resilient workforce, we responded effectively to these challenges. While these developments tested our resilience, they also reaffirmed our ability to overcome adversity and emerge stronger.

Strategic Partnerships

During the year, two of our long-standing partners - Adani Group in our Adani Wilmar (now known as AWL Agri Business Limited) joint venture in India and PZ Cussons in our PZ Wilmar joint venture in Nigeria - divested their shareholdings for internal reasons. We deeply appreciate their contributions to the respective joint ventures over the years, which were instrumental in building successful ventures.

Financial Performance

The Group recorded US$1.28 billion core net profit and US$70.42 billion revenue in FY2025, with diluted earnings per share of 22.6 US cents. On the back of a stronger performance in 2H2025, core net profit increased by 10% while revenue increased by 5%. The Group's balance sheet remains strong, with total assets standing at US$65.64 billion (FY2024: US$59.57 billion) while shareholders' funds increased to US$21.87 billion (FY2024: US$19.86 billion).

The Food Products segment reported a decline in pre-tax profit to US$449.7 million (FY2024: US$502.1 million) mainly due to the absence of a gain from the share swap exercise

of the Group's China associates and joint venture (Luhua) that was recognised in 2024. Excluding this prior year gain, underlying profit for the segment improved due to better performance from the flour and rice businesses and higher overall sales volume, which grew by 5% to 34.7 million MT in FY2025 (FY2024: 33.0 million MT).

The Feed and Industrial Products segment saw an increase in pre-tax profit to US$861.0 million (FY2024: US$829.5 million). Despite challenging operating conditions for the tropical oils business, this performance was supported by higher crushing margins and improved contributions from sugar merchandising activities, especially in the second half of the year. Overall sales volume decreased slightly to 68.0 million MT in FY2025 (FY2024: 68.7 million MT).

The Plantation and Sugar Milling segment posted a higher profit of US$356.5 million (FY2024: US$269.1 million), driven by higher palm oil prices and stronger sales volume for sugar in the first half of the year. This improvement was partially offset as palm oil prices weakened towards the end of the year, alongside lower production of fresh fruit bunches due to unfavourable weather conditions in Indonesia.

Contributions from the Group's associates and joint ventures surged 54% to US$339.4 million (FY2024: US$219.9 million) mainly due to positive results from our investments in Asia, especially in the first half of the year.

2025 HIGHLIGHTS

In 2025, we adopted a disciplined capital allocation strategy, concentrating on optimising our existing businesses and improving operational efficiency.

China

On the back of China's accelerating demand for health products, we expanded our Health and Wellness portfolio with the launch of nearly 50 new products and variants across multiple categories. These offerings were introduced across physical retail and major e-commerce platforms, supported by a multi-channel marketing approach that broadened consumer reach. We remain confident in the long-term growth potential of this segment as healthier diets become an increasingly important driver of consumer demand.

At the same time, we continued to invest in building high-quality food infrastructure to support safer, more efficient and affordable food production. In 2025, three new food parks in Huai'an, Kunshan and Guangzhou began partial operations, bringing our network to nine food parks nationwide.

Our Food Park in Kunshan, China.

Sustainability remains firmly embedded in our growth strategy. We continued to expand the use of clean energy, promote circular-economy practices, improve product packaging and work with upstream and downstream partners to build a more resilient and sustainable industry chain, while maintaining high standards of product quality and food safety. Beyond our operations, we remained engaged in social initiatives spanning rural revitalisation, education and community development.

As we pursue long-term growth in China, we remain equally committed to the highest standards of corporate governance, integrity and accountability. In relation to

Tops products from India.

the allegations of wrongdoing involving our subsidiary and a state-owned enterprise, we maintain that they are entirely unfounded and the Group will vigorously defend its position through appropriate legal channels.

India

In 2025, we completed the acquisition of shares in Adani Wilmar Limited held by our former joint venture partner, Adani Commodities LLP. With this development, Adani Wilmar Limited became a subsidiary of Wilmar and was renamed AWL Agri Business (AWL), reflecting its position as a fully integrated agri-food company.

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CHAIRMAN'S MESSAGE

Over the course of the year, we strengthened our leadership in India's consumer food market, maintaining leading positions in edible oils, wheat flour and basmati rice. We continued to expand our distribution network, reaching over 123 million households and 58,000 rural towns - an elevenfold increase for the latter since 2022. Fortune, which is AWL's leading consumer food brand, marked its 25thyear in India, a milestone that reflects the trust the brand has earned as a familiar presence in Indian kitchens.

We also expanded AWL's brand portfolio with the acquisition of G.D. Foods Manufacturing (India) Private Limited (GD Foods), the owner of the Tops brand, a well-established food processing brand in India, extending our presence beyond core staples into a broader range of food segments such as sauces, instant mixes and noodles.

India's food consumption market continues to evolve, with consumers placing greater emphasis on quality, health, affordability and convenience in staple and everyday food products. With quality brands and extensive reach, we believe AWL is well positioned to capture long-term growth opportunities in this market.

Vietnam

We successfully completed the expansion of our joint venture's soybean crushing plant, making it the largest soybean crushing plant in Southeast Asia. We are also preparing to increase production capacities for bouillon granules and mayonnaise at our sauces and condiments plant, as well as homecare products at our oils and fats complexes.

Our joint venture's soybean crushing plant in Bà Ria-

Vũng Tàu, Vietnam.

Our new refinery and fractionation plant in South Africa.

Africa

Africa continues to demonstrate strong long-term potential, reflected in the steady growth in demand for our food and other consumer products across the African continent. To capture this rising demand, we are expanding our production capabilities and entering new product categories.

During the year, we completed or advanced several new facilities, including the commissioning of our specialty fats plant in Morocco, a refinery and fractionation plant in South Africa, and new condiment production lines in Zimbabwe. We also expanded our shea fractionation plant in Ghana and deepened our distribution footprint by introducing new categories-rice, sunflower oil, and yeast in Ethiopia.

In Nigeria, we remain bullish on the long-term potential of the palm oil sector and have acquired our joint-venture partner, PZ Cussons' 50% equity stake in PZ Wilmar, while also securing additional land in Cross River State to support the expansion of palm plantations.

SUSTAINABILITY

Sustainability remains integral to how Wilmar creates longterm value, particularly in an operating environment that continues to evolve in terms of regulation, stakeholder expectations and supply chain complexity. We are committed to embedding responsible practices across our operations and supply chains, underpinned by strong governance and a forward-looking approach.

In 2025, we continued to receive external recognition for the consistency of our sustainability performance. Wilmar maintained its inclusion in the Dow Jones Best-in-Class Asia Pacific and World Index, FTSE4Good Index Series and retained its 'AA' rating in the Morgan Stanley Capital International (MSCI) ESG Rating Report.

With both our near- and long-term emissions reduction targets validated by the Science Based Target initiative (SBTi), our focus in 2025 shifted decisively towards execution. We advanced targeted initiatives to reduce emissions across our operations, including increasing the use of renewable energy and biomass fuels, improving energy efficiency in our manufacturing facilities, and advancing nature-based solutions in our upstream businesses. At the same time, we continued to engage suppliers through traceability, monitoring and capacity-building programmes to support emissions reduction efforts across our wider value chain.

Alongside our environmental priorities, we continued to strengthen outcomes for people and communities. Across our plantation operations, we invested in education, healthcare and living conditions, providing free, quality education to more than 12,000 children and supporting access to essential services for employees and their families. Protecting children's rights remains integral to how we operate, and in 2025, we further improved child protection measures through expanded assessments, training and closer engagement with suppliers. We also continued to conduct assessments to ensure that all employees and contractors across our operations receive a local living wage.

The pace and direction of corporate sustainability continues to evolve, with many companies recalibrating their ambitions amid shifting regulatory and economic priorities. Against this backdrop, we remain committed to staying the course. We believe that embedding sustainability into how we operate has strengthened our resilience as a business. This positions the Group well to adapt to future regulatory developments and competitive pressures, while maintaining our focus on long-term value creation.

PROSPECTS

We expect operating conditions to remain challenging in 2026. Nevertheless, we are confident that our robust global manufacturing and distribution infrastructure, supported by our dedicated workforce, will enable us to navigate future challenges, maintain our market leading positions and deliver sustainable growth. Barring unforeseen circumstances, we anticipate the Group's performance for FY2026 to be satisfactory.

DIVIDENDS

The Board has proposed a final dividend of S$0.10 per share, which, if approved by shareholders at the forthcoming Annual General Meeting, will be paid on 14 May 2026. Including the interim dividend of S$0.04 per share paid in August 2025, the total dividend for FY2025 is S$0.14 per share (FY2024: S$0.16 per share).

APPRECIATION

I would like to express my deepest appreciation to all our employees for their unwavering loyalty, resilience and dedication in a year marked by significant challenges and uncertainty. Your commitment and perseverance have been instrumental in helping the Group navigate adversity and continue delivering for our stakeholders. I also extend my sincere thanks to our customers, shareholders, partners and bankers for their continued trust, confidence and steadfast support throughout the year.

Kuok Khoon Hong

Chairman and Chief Executive Officer 18 March 2026

6 WILMAR INTERNATIONAL LIMITED ANNUAL REPORT 2025 7

OVERCOMING ADVERSITY

The past year has tested our resilience greatly. We operated against a backdrop of shifting geopolitical dynamics, regulatory regimes, partnerships and even heightened scrutiny in several markets. These pressures were significant, but they also reinforced the strength and value of an integrated business model that can withstand external shocks.

Through each challenge, our teams stayed focused on the fundamentals: running efficient operations, meeting customer needs and maintaining business continuity across our global network. Whether addressing allegations, navigating more complex operating conditions or managing changes in longstanding partnerships, we approached every issue with the same mindset

- to respond with integrity, safeguard our long-term interests and emerge stronger. These efforts ultimately support our mission to provide safe, high-quality and affordable products to our customers.

Workers harvesting Fresh Fruit Bunches in Indonesia.

8 WILMAR INTERNATIONAL LIMITED ANNUAL REPORT 2025 9

UPHOLDING OPERATIONAL EXCELLENCE AND PRODUCT QUALITY

In 2025, we faced unjustified allegations in Indonesia and China that generated scrutiny. We firmly deny these allegations and continue to maintain our innocence.

Throughout this period of uncertainty, we kept our operations running smoothly and maintained consistent product quality. Production, fulfilment and service levels remained stable across our major markets, and customers continued to receive the same reliability they expect from us. These efforts supported

steady sales volume growth in both our consumer and industrial product lines.

We also continued to uphold rigorous quality standards across our manufacturing network and strengthened key processes in areas

such as safety and technology. These measures helped ensure that our products remained reliable and met consumer expectations. Our proven standards in food quality, taste and safety have also led authorities and schools

in China and Singapore to partner with our central kitchens on their respective school meal programmes.

Our Food Park in Hangzhou, China.

10 WILMAR INTERNATIONAL LIMITED ANNUAL REPORT 2025 11

NAVIGATING COMPLEX OPERATING ENVIRONMENTS

Globally, geopolitical tensions, new tariff regimes and changing regulatory requirements added complexity for international trade and raised the operational demands on several of our markets. These shifts affected how goods moved across borders, increased

compliance requirements, and introduced new considerations for cost and timing.

Managing these developments required close coordination across our global operations. Nevertheless, we drew on the breadth of our extensive distribution network spread across China, India,

Indonesia and some 50 other countries and regions, as well as our own fleet of liquid and dry bulk carriers to redirect volumes, adjust routes when needed and maintain steady supply to customers.

12 WILMAR INTERNATIONAL LIMITED ANNUAL REPORT 2025 13

REPOSITIONING LONGSTANDING PARTNERSHIPS

The year also marked a notable change in our joint venture in India. In 2025, the Adani Group divested its stake in Adani Wilmar (now AWL Agri Business).

This departure will conclude a longstanding partnership under which we built a strong consumer products business anchored by trusted brands such as Fortune, Kohinoor and King's. Together, we established leading market positions and grew a competitive, consumer-focused business with a nationwide presence.

With a larger stake in the business, we are now better positioned to drive its next phase of growth, supported by faster decision making and clearer long-term strategic alignment. Our infrastructure, brands, extensive distribution network and experienced local team remain firmly established in India, providing a solid foundation to sustain and strengthen our market leadership.

India's largest integrated food complex at Gohana, operated by AWL Agri Business.

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HELPING OUR COMMUNITIES

In a year defined by overcoming adversity, we also worked to extend resilience into the communities around us. Across our operations, we support local needs through initiatives that respond directly to the challenges they face.

Our schools in China, Malaysia and Indonesia provide free, quality education to more than 29,000 children of school-going age in rural and plantation areas where access is limited, while in Nigeria, we upgraded local schools and built accommodation for teachers within school campuses to improve learning and living conditions in underserved communities.

We also supported rice farmers in Indonesia who often face income instability due to fluctuating yields and prices by providing quality seeds, guidance on good agricultural practices, and acting as guaranteed buyers.

In India, where malnutrition among women and children remains a persistent challenge, we engaged with local communities to strengthen nutritional awareness through targeted initiatives and practical guidance on healthier dietary practices. These are some of the many community-building programmes we continue to run as part

of our broader contribution to the places where we operate.

Pupils at Qingtang Yihai Primary School, operated by YKA, China.

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OUR GLOBAL OPERATIONS PERFORMANCE OVERVIEW

Wilmar is a global leader in processing and merchandising of edible oils, oilseed crushing, sugar merchandising, milling and refining, production of oleochemicals, specialty fats, palm biodiesel, flour milling, rice milling and consumer pack oils.

Net Profit

US$1.41B

Core Net Profit

VIETNAM

• Largest edible oils refiner, specialty fats manufacturer and oilseed crusher

• Leading flour miller and grains value-added processor

• Leading producer of branded consumer pack oils, rice, flour, sauces and condiments

#1 PLAYER IN CHINA

• Largest edible oils refiner and specialty fats and oleochemicals manufacturer

• Leading oilseed crusher, producer of branded consumer pack oils, rice and flour

• One of the largest flour and rice millers

US$1.28B

Revenue

US$70.42B

⏺Russia

EBITDA

US$4.27B

United Kingdom

⏺

Netherlands⏺

⏺Poland

⏺Germany ⏺Ukraine

⏺China

United States of America

⏺

⏺Mexico

Spain⏺ Morocco⏺

⏺Senegal

⏺Switzerland

⏺Italy

United Arab Emirates⏺

Saudi Arabia⏺

⏺Pakistan

⏺Bangladesh

⏺Myanmar

⏺Japan

Total Assets

US$65.64B

Guatemala⏺

Ivory Coast⏺

⏺Nigeria

India⏺Thailand⏺ ⏺Laos

Cambodia⏺⏺Vietnam

⏺ ⏺Ghana

Liberia

Uganda⏺

⏺Ethiopia

⏺Philippines

⏺Sri Lanka⏺Malaysia

Singapore⏺

Diluted Earnings

Per Share

⏺Brazil

⏺Kenya Zambia⏺ ⏺Tanzania

⏺Mozambique

⏺Zimbabwe

Indonesia⏺

⏺Papua New Guinea

Fiji⏺

22.6 US CENTS

⏺South Africa

INDONESIA & MALAYSIA

• One of the largest oil palm plantation owners and the largest palm oil refiner, palm kernel and copra crusher, flour miller, specialty fats, oleochemicals and biodiesel manufacturer

• Largest producer of branded consumer pack oils and third largest rice miller in Indonesia

⏺Australia

⏺

New Caledonia

New Zealand

⏺

Dividend Per Share

S$0.140

Net Asset Per Share

US$3.50

AUSTRALIA

• Largest raw sugar producer and refiner

• Leading consumer brands in sugar and sweetener market

• Top 10 global raw sugar producer

* Including subsidiaries, joint ventures and associates

Over 1,000 manufacturing plants in 36 countries and regions*

Extensive distribution

network in China, India, Indonesia and some 50 other

countries and regions

Multinational

workforce of about 100,000 staff globally

18 WILMAR INTERNATIONAL LIMITED ANNUAL REPORT 2025 19

FINANCIAL HIGHLIGHTS

REVENUE (US$ MILLION)

73,399

70,416

NET PROFIT (US$ MILLION)

2,402

DILUTED EARNINGS PER SHARE (US CENTS)

38.3

CASH FLOW (US$ million)

65,794

67,155 67,379

1,890

1,525

1,170

1,411

29.9

24.4

18.7

22.6

FY2021 FY2022 FY2023 FY2024 FY2025

FY2021 FY2022 FY2023 FY2024 FY2025

FY2021 FY2022 FY2023 FY2024 FY2025

BALANCE SHEET (US$ million)

RETURN ON AVERAGE EQUITY (%) DIVIDEND PAYOUT RATIO ON NET PROFIT# (%)

9.7

12.0

7.6

5.8

64

52

49

6.8 38

33

FY2021 FY2022 FY2023 FY2024 FY2025 FY2021 FY2022 FY2023 FY2024 FY2025

PROFIT BEFORE TAX BY BUSINESS SEGMENT

16%

23%

Food Products 23%

-2%

12%

29%

Food Products 29%

SALES VOLUME BY BUSINESS SEGMENT ('000 MT)

3% 3% 4%

33% 31% 32%

1%

18%

FY2025

Feed and Industrial

42%

Feed and Industrial

47%

FY2023

Note:

42%

Total 100%

47%

Total 100%

Food Products 34,700 Feed and Industrial Products 67,975 Sugar Milling 3,113

Food Products 33,000 Feed and Industrial Products 68,700 Sugar Milling 3,090

Food Products 30,682 Feed and Industrial Products 61,269 Sugar Milling 3,565

Segmental breakdown calculation excludes unallocated segment, changes in fair value of biological assets and impairment of property, plant and equipment. # FY2025 dividend payout ratio on net profit is estimated based on number of shares outstanding as at 31 January 2026.

20 WILMAR INTERNATIONAL LIMITED ANNUAL REPORT 2025 21

WHAT WE DO

VERTICALLY INTEGRATED BUSINESS MODEL

Wilmar's strategy is to build an integrated model encompassing the entire value chain of the agricultural commodity business, from origination to processing, trading, merchandising branded products and distribution.

ORIGINATION PROCESSING

PRODUCTS

TRADING, MERCHANDISING & DISTRIBUTION

CUSTOMERS

PLANTATION AND SUGAR MILLING

FEED AND INDUSTRIAL PRODUCTS

FOOD PRODUCTS

LOGISTICS

Oil palm plantation and sugar milling activities, which include the cultivation and milling of palm

Processing, merchandising and distribution of products, which include animal feeds, non-

Processing, branding and distribution of a wide range of edible food products, which include vegetable oils, sugar, flour, rice, noodles, specialty fats, snacks, bakery and dairy products, ready-to-

46 18*

Liquid Bulk Vessels Dry Bulk Vessels

oil and sugarcane.

edible palm and lauric products, agricultural

commodities, oleochemicals, gas oil and biodiesel.

eat meals and central kitchen products. These

food products are sold in either consumer and medium packaging or in bulk, depending on consumer requirements.

PORTS / JETTIES

9 16+

OIL PALM PLANTATION

Fresh Fruit Bunches

4.0m MT

SUGAR MILLING

Volume

3.1m MT

TROPICAL OILS

Volume

26.4m MT

OILSEEDS & GRAINS

Volume

30.0m MT

SUGAR

Volume

11.5m MT

CONSUMER PRODUCTS

Volume

8.8m MT

MEDIUM PACK AND BULK

Volume

25.9m MT

in Indonesia

1

in Myanmar

1

in China

2

in Europe

1

Revenue

US$3.52b

Results

US$356.5m

Revenue

US$42.87b

Results

US$861.0m

Revenue

US$30.89b

Results

US$449.7m

in Vietnam

* includes owned and controlled vessels

includes subsidiaries and joint ventures

+

in Australia

22 WILMAR INTERNATIONAL LIMITED ANNUAL REPORT 2025

23

OPERATIONS REVIEW

A GLOBAL INTEGRATED AGRIBUSINESS

Wilmar's strategy is built on a resilient business model that spans the entire agricultural commodity value chain

- from origination and processing to merchandising and manufacturing a wide range of branded consumer products. This integrated approach has enabled us to navigate global uncertainties and overcome adversity with agility and strength.

Over the years, we have made significant investments in creating an integrated agri and food business, which provides us with economies of scale, operational efficiencies and geographical diversity, making us one of the most efficient producers in the industry. Additionally, we own a fleet of liquid and dry bulk carriers to support our shipping needs. As of 31 December 2025, the Group owned and controlled tankers and dry bulk vessels with a total tonnage of about

2.5 million MT.

Our business operations are further bolstered by our research and development (R&D) capabilities, which focus on improving manufacturing processes, ensuring product quality and consistency, and developing innovative new products. Our R&D teams collaborate across borders and with external organisations to share knowledge and resources, enhancing our collective innovation efforts.

At the heart of our resilience are our people. We believe we have some of the most dedicated and experienced professionals in the industry, many of whom have been with us for years and have played a pivotal role in building the Group. Our business partners are equally vital, contributing to our success across diverse markets and helping us weather challenges together.

COMPANY DEVELOPMENTS

Throughout the year, we focused on consolidating past investments while exercising disciplined capital management and driving efficiency improvements. In FY2025, we reduced capital expenditure to US$1.08 billion, down from US$1.57 billion in FY2024. Despite a challenging environment, we successfully completed key projects, selectively expanded our operational footprint and undertook strategic acquisitions.

In China, our food parks in Kunshan and Huai'an commenced partial operations in mid-2025. By year-end, construction of three out of five buildings at our ninth food park in Guangzhou was completed, with final regulatory procedures underway and tenant onboarding in progress. Meanwhile, two additional sites in Haikou and Bazhou are under construction for completion in 2026/27, reflecting ongoing growth even as we prudently phase our capital projects.

2025 also marked significant progress in strengthening our control over key joint ventures. In India, the Adani Group exited the AWL Agri Business Limited (AWL) joint venture (formerly Adani Wilmar Limited) due to internal strategic considerations, divesting its 44% stake progressively over the year. This process included Wilmar's acquisition of an additional 13% stake in AWL from the Adani Group, increasing our ownership to approximately 57%, resulting in AWL becoming a subsidiary of Wilmar. This strategic consolidation enhances our agility in decision-making and ensures stronger alignment with Wilmar's long-term objectives in the Indian market.

As AWL's flagship brand, Fortune, celebrated its 25thyear in India, it reinforced its leadership in the country's consumer food market, maintaining strong positions in edible oils, wheat flour and basmati rice. In April 2025, AWL further expanded its Foods and FMCG portfolio through the acquisition of G.D. Foods Manufacturing (India) Private Limited (GD Foods). GD Foods' flagship brand, Tops, is a trusted culinary brand with a 40-year heritage. This acquisition added more than 80 complementary products to AWL's range, including sauces and condiments, pickles, noodles, breakfast cereals, instant mixes and cooking aids.

In Nigeria, we acquired PZ Cussons plc's 50% stake in the PZ Wilmar joint venture, securing full ownership of one of the country's largest edible oil businesses.

FOOD PRODUCTS

This segment comprises the processing, branding and distribution of a wide range of edible food products including vegetable oils, sugar, flour, rice, noodles, ready-to-eat meals, central kitchen products, specialty fats, snacks, bakery, eggs, poultry and dairy products. These food products are sold in either consumer and medium packaging or in bulk.

We are the largest producer of consumer pack edible oils and a leading producer of consumer pack flour and rice in the world, with leading positions in China, India, Indonesia, Vietnam, Bangladesh, Sri Lanka and several African countries. Our sugar brands are market leaders in Australia, New Zealand, India and Saudi Arabia. We also have growing sales of noodles and condiments. Our range of high-quality essential food products has enabled us to build extensive sales and distribution networks in many countries. Our consumer brands are well-established and renowned for their quality, having won numerous product awards (https:// www.wilmar-international.com/about-us/awards) in their respective markets.

Market Trends

In 2025, China's consumer segment remained stable with modest growth in food staples and strong volume gains in condiments and household products, while the bulk segment benefited from a shift towards branded offerings due to food safety regulations. India saw robust growth in edible oils, pulses, soya nuggets and sugar, driven by economic recovery, urbanisation and rising consumer demand for premium and functional foods. E-commerce and quick commerce continue to drive ongoing shifts in consumption patterns.

Our Performance

In FY2025, pre-tax profit for the Food Products segment declined by 10% to US$449.7 million, mainly due to the absence of a pre-tax gain from the share swap exercise of our China associates and joint venture, Luhua, which was recognised in FY2024. Excluding the prior year's pre-tax gain, profit was higher than in 2024, as improved profitability in the flour and rice businesses was partially offset by weaker results in the sugar business. Overall sales volume grew by 5% to 34.7 million MT, supported by volume growth from existing businesses as well as the consolidation of one month of AWL's results in fourth quarter of FY2025.

Medium Pack and Bulk 25,858 24,668 5%

Total Food Products 34,700 33,000 5%

Outlook & Strategy

Looking ahead to 2026, our strategic focus is on premiumisation, operational efficiency and deeper market penetration. In China, efforts will centre on expanding higher-margin products such as functional health foods and enhancing foodservice offerings. India's AWL aims to consolidate its leadership in edible oils while accelerating growth in food staples such as wheat flour, rice, pulses and soya nuggets, supported by rural expansion and exploring opportunities in the HORECA, institutional and export segments.

AWL's flagship brand, Fortune, celebrated its 25thyear in India.

Across all regions, the emphasis remains on leveraging cross-segment synergies, enhancing local manufacturing capabilities and aligning with regulatory trends to sustain growth. We will also continue to expand our distribution networks and leverage our existing network to introduce new complementary products.

Our food park in Kunshan, China.

24 WILMAR INTERNATIONAL LIMITED ANNUAL REPORT 2025 25

world's largest oilseeds crushers and we crush a wide range of oilseeds including soybeans, rapeseed, groundnut, sunflower seed, sesame seed and cotton seed. We are also one of the world's largest copra and palm kernels crushers as well as the world's largest producer of palm biodiesel and oleochemicals, offering a wide range of products from basic oleochemicals, derivatives to biofuels.

We also operate an integrated sugar business with milling, refining, ethanol production and merchandising. We are one of the world's largest sugar traders with offices in Singapore, Dubai, Geneva, Sao-Paulo, and Mexico, and trade about 12 million MT of raw and white sugar globally on an annual basis.

Oilseeds & Grains - Crushing

In 2025, soybean prices were subdued, reflecting favourable weather conditions in South America and Brazil's record soybean production.

Meanwhile, demand for soybean meal from the hog industry in China remained resilient, supported by relatively lower raw material prices which led to higher inclusion rates in feed formulations.

Tropical Oils

Crude palm oil (CPO) prices remained elevated in 2025, averaging slightly above 2024 levels. Prices opened around RM 4,819 and briefly traded at a premium to soybean oil in the first quarter of the year. CPO prices were supported by Indonesia's B40 biodiesel mandate, seasonally weaker output and festive restocking ahead of Ramadan and Lunar New Year. With Indonesia's shift from B35 to B40 blending, biodiesel production increased by 12% from 12.1 million MT in 2024 to approximately 13.6 million MT in 2025.

By mid-year, CPO prices eased as palm oil production picked up seasonally and supply of competing vegetable oils became more abundant. However, prices rebounded in the third quarter of 2025, due to revived demand as palm regained its price competitiveness against soybean oil, as well as Indonesia's announcement of a B50 biodiesel plan for

Integrated manufacturing complex in Xingping, Shaanxi, China.

2026 and India's mid-year cut in import duty on crude edible oils. Towards the end of the year, CPO prices moderated, as production in Malaysia increased, closing at around RM 3,933, down 18% from the beginning of the year.

Sugar

In early 2025, sugar prices rose on the back of a tight Brazilian off-season between harvests (known as "intersafra"), reflecting the weak 2024 Centre-South production. Prices then reversed sharply after India unexpectedly authorised a one million MT sugar export quota. The price decline accelerated with the start of the new Centre-South Brazil harvest, pushing sugar prices down to around 14 US cents per pound by the end of the year, the lowest level since 2020 and a decline of over 30% from the peak in February 2025.

At the same time, Brazilian ethanol prices collapsed due to abundant supply of corn-based ethanol, further pressuring the sugar complex. On the demand side, global sugar consumption weakened, driven by the rapid expansion of GLP-1 receptor agonist drugs-reducing caloric and sugar intake in several markets-as well as stricter anti-sugar policies, including the introduction or increase of sugar taxes in multiple countries.

Our Performance

The Feed and Industrial Products segment recorded a 4% increase in pre-tax profit to US$861.0 million on the back of higher crushing margins and improved contributions from sugar merchandising activities, despite lower sugar sales volume. Overall segment performance was, however, impacted by compressed margins in the tropical oils business. Sales volume for the segment decreased marginally by 1% to 68.0 million MT in FY2025.

Outlook & Strategy

The supply of soybeans from South America is expected to remain robust in 2026 which should keep raw material costs stable and help support demand.

For tropical oils, Indonesia is expected to keep its biodiesel mandate at B40 in 2026, while any shift to B50 remains uncertain due to funding and technical considerations. If the mandate stays at B40, it would remove the previously anticipated increase in domestic palm oil demand. Meanwhile, demand from major importers such as China and India remains highly dependent on the relative pricing of palm oil versus other competing vegetable oils.

For the sugar market, good sugar crops are expected in most producing regions. In Brazil, corn ethanol production is expected to expand further and could represent an estimated additional 2.5 million MT of sugar-equivalent output, intensifying competition with cane ethanol.

Meanwhile, sugar consumption will require close monitoring, as the use of GLP-1 drugs is expected to expand further worldwide, posing a structural downside risk to global sugar demand.

Against an evolving geopolitical backdrop, we will continue to closely monitor regulatory developments, trade policies, and other external factors affecting the commodities we handle, to ensure our strategies remain responsive and well-adapted.

26

WILMAR INTERNATIONAL LIMITED ANNUAL REPORT 2025 27

OPERATIONS REVIEW INVESTOR RELATIONS

PLANTATION & SUGAR MILLING

This segment comprises oil palm plantation and sugar milling activities, which include the cultivation and milling of palm oil and sugarcane, as well as the production of compound fertilisers.

As at 31 December 2025, our total planted area for oil palm stands at 234,334 hectares (ha). Through joint ventures, we own plantations in Uganda and West Africa totalling approximately 58,000 ha. Wilmar also directly manages 36,597 ha under smallholder schemes in Indonesia and Africa, and another 189,806 ha under smallholder schemes through associates in Africa.

In recent years, we stepped up our re-planting programme and thus maintaining the average age of our plantations at around 14 years. This will support the medium to longterm growth of our plantation operations. Around 47% of the plantations are at the prime production age of 7 to 18 years and 20% are at age 6 years and below.

We operate sugar cane and sugar beet mills in Australia, India, Myanmar and China. We are Australia's largest raw sugar producer accounting for more than half of Australia's raw sugar. Each year we crush about 14 million MT of sugarcane to make around two million MT of raw sugar. About 80% of the raw sugar we produce is shipped to overseas markets.

We own 62.5% of Shree Renuka Sugars Limited (SRSL), the leading sugar company in India. SRSL has a cane crushing capacity of 9.2 million MT per annum and ethanol distillery capacity of 1,250 kilolitres per day. In Myanmar, we have a total sugar production capacity of 1.4 million MT and a bioethanol plant. In China, we process sugar beet in Inner Mongolia.

Our Performance

For sugar, we have accelerated our big data and Artificial Intelligence (AI) capabilities across market research and operations, with our subsidiary, GeoWatch Labs, now delivering AI crop monitoring. We have also begun deploying satellite-based micro-farming management at our sugar mills.

Outlook & Strategy

In 2026, global oil palm production is expected to be broadly flat, reflecting a high base in 2025 as well as the impact of ageing trees and weather-related variability. We will continue to monitor potential production impact arising from ongoing oil palm plantation land seizures in Indonesia. In the long term, oil palm production is expected to plateau as new plantings slow due to tighter sustainability requirements

We are committed to transparent, two-way communication with the investment community. Throughout the year, we have continued to nurture our relationships with stakeholders - including shareholders, analysts and media - by providing timely and accurate updates on the Group's strategy, operations and financial performance across multiple channels. This proactive engagement was especially crucial in a challenging year, ensuring stakeholders remained informed and confident in the Group's direction despite a turbulent environment.

FOSTERING SHAREHOLDER RELATIONS

In the face of uncertainty, open engagement with investors was a top priority. In 2025, the Investor Relations (IR) team - together with senior management - connected with institutional investors through a mix of in-person meetings, analyst briefings and investor conferences, while continuing to offer video calls, teleconferences and hybrid events to ensure global accessibility. Investors across Asia, Europe and the US had regular access to senior management to discuss the Group's performance, strategy and outlook - which was especially valuable amid FY2025's volatile market conditions.

While the Singapore Exchange (SGX) regulations mandate half-yearly financial reporting, we voluntarily provide quarterly financial updates to keep investors informed. We also host quarterly analyst briefings, with senior management delivering updates on recent performance and industry developments, while providing analysts and investors with direct opportunities for in-depth enquiries and insights into the Group's strategy and outlook. Any additional investor inquiries are promptly addressed via one-on-one calls or emails by the IR team.

IR CALENDAR

Our Annual General Meeting (AGM) held on 22 April 2025 in Singapore adopted a hybrid format for the fourth year. Shareholders could attend in person at our headquarters or participate via a secure online webcast. This inclusive setup enabled shareholders globally to ask questions and vote in real time. Shareholders were also invited to submit questions ahead of the meeting via the AGM portal, to which management provided publicly accessible responses prior to the meeting. During the meeting, our Chief Financial Officer presented the Group's financial performance and key developments of the past year, and the Board of Directors along with senior management addressed live queries from shareholders. By leveraging technology and careful planning, we ensured robust shareholder participation and transparency at the AGM, underscoring our commitment to good corporate governance and fair communication. Beyond the AGM, shareholders are encouraged to engage with the company through regular updates and dedicated communication channels such as through e-mails and/or calls with the IR team.

We also continued to support the retail shareholder community and uphold best practices in investor communications. We remain a longstanding sponsor of the Securities Investors Association (Singapore) (SIAS) and its annual Corporate Governance Week and Statement of Support, reflecting our commitment to minority shareholders and governance advocacy.

Additionally, we maintain strong relationships with the sell-side analyst community, with about 12 equity research analysts providing regular coverage of Wilmar currently.

For FY2025, pre-tax profit for the Plantation and Sugar Milling segment rose 32% to US$356.5 million, driven mainly by a strong first-half performance supported by higher palm oil prices, despite weaker results in the second-half due to lower palm oil and sugar prices. Palm oil prices ended lower at the end of FY2025, resulting in losses arising from changes in fair value of biological assets recognised in second half of the year, while the sugar milling business was similarly impacted by softer sugar prices.

In oil palm plantations, unfavourable weather conditions in Indonesia led to a 2% decline in fresh fruit bunch (FFB) production to 4.0 million MT.

and limited land availability. Our focus will remain on enhancing FFB yields through operational and agronomic improvements, rather than land expansion.

For sugar milling, we expect a larger sugarcane crop in 2026, which should support higher sugar production, subject to weather-dependent growing conditions. The outlook for global sugar prices, however, remains uncertain and will depend on how market conditions evolve over the year. We will continue to emphasise disciplined cost management, supported by stay-in-business capital investment and site-level productivity and improvement initiatives.

First Quarter

• Second Half and FY2024 Results Announcement and Analyst Briefing

• Publication of Annual Report 2024

  Second Quarter

• Annual General Meeting

• First Quarter FY2025 Results Announcement and Analyst Briefing

• Sell-side Analysts Trip to China

• Final Dividend (for FY2024) Payment Date

• Morgan Stanley Virtual ASEAN Conference

  Third Quarter

• First Half FY2025 Results Announcement and Analyst Briefing

• Interim Dividend (FY2025) Payment Date

  Fourth Quarter

• Third Quarter FY2025 Results Announcement and Analyst Briefing

• CGS International 4th Regional Consumer and Financial Virtual Conference 2025

28 WILMAR INTERNATIONAL LIMITED ANNUAL REPORT 2025 29

INVESTOR RELATIONS

In May, we organised an analyst trip to China to visit the Shanghai headquarters of our Chinese subsidiary, Yihai Kerry Arawana (YKA), as well as site tours of key facilities such as the Shanghai Gaodong complex (with its R&D centre), and the integrated manufacturing complexes, featuring a food park and central kitchen, in Hangzhou and Kunshan. These visits gave the analysts from Singapore, Malaysia and Indonesia an opportunity to engage directly with our China management team and witness first-hand the scale, efficiency and innovative capacity of our operations. By touring production lines, R&D laboratories and new product development facilities, we aimed to provide a deeper understanding of our integrated business model and growth strategy.

Connecting analysts with YKA senior management, YKA IR and Wilmar IR during China visit.

IR ENGAGEMENT IN CHINA AND INDIA

Our listed subsidiaries in China and India - YKA and AWL Agri Business Limited (AWL) - also undertook significant investor relations efforts in 2025 to complement the Group's overall outreach:

• China (YKA): The YKA IR team actively engages the investment community through on-site visits, complementing traditional roadshows and strategy meetings. These visits showcase our integrated manufacturing facilities, where multiple product and production lines operate within a single complex, offering stakeholders a comprehensive view of our manufacturing processes, business models and growth strategies.

  In 2025, the team organised more than 18 investor events, hosting approximately 500 participants. Notably, in September, China-based investors and analysts visited the Chongqing and Hangzhou business clusters for in-depth research and factory tours. The programme included presentations on business operations and discussions with management on progress of the food park and its customer portfolio, as well as the Chongqing egg-laying hen project. Compared with conventional roadshows, these immersive visits provided a more tangible understanding of YKA's strategic direction.

• India (AWL): In 2025, Wilmar increased its stake in AWL from 44% to approximately 57%. The transaction was completed in November, making AWL a majority-owned subsidiary. Earlier in the year, the company rebranded from Adani Wilmar Limited to AWL Agri Business Limited, signalling its new identity.

  Investor engagement remained a key priority, with over 50 meetings held, reflecting heightened institutional interest following the increase in AWL's minimum public free float and Wilmar's stake. AWL's senior management and IR team drove these efforts through non-deal roadshows, investor conferences, and one-on-one meetings, complemented by regular IR activities such as quarterly earnings calls and presentations. On the analyst front, Jefferies initiated coverage on AWL during the year, bringing the total to five leading sell-side institutions actively covering the company: ICICI Securities, Nuvama, JP Morgan, Investec, and Jefferies.

  ACCESS TO IR INFORMATION

  To facilitate broad and fair access to information, we continually enhance our digital IR resources. The IR website serves as a one-stop platform for corporate disclosures (including the Company's constitution and corporate policies), stock and financial data, significant business developments, annual reports and press releases. All disclosures filed with the SGX are promptly posted on our Investors & Media webpage (http://ir-media.wilmar-international.com) for easy access. We also offer an email alert service for the investment community to subscribe and receive real-time notifications of our results announcements and news. By leveraging these online tools, we ensure that all stakeholders can easily access the latest information, thereby upholding our high standards of transparency.

  STRENGTHENING RESPONSIBLE PRACTICES

  The IR team works closely with our Sustainability team to keep investors apprised of the Group's Environmental, Social and Governance (ESG) activities and to address their queries on these matters. In 2025, we conducted numerous ESG-focused engagements - including dedicated meetings, conference calls and email updates - with institutional investors and ESG analysts, covering topics such as climate change, biodiversity, human rights and corporate governance.

  Our ESG efforts have received external recognition. Notably, we retained a "AA" rating from Morgan Stanley Capital International (MSCI)'s 2024 assessment, reflecting robust management of ESG issues relative to global peers. We maintained inclusion in key sustainability indices such as the FTSE4Good Index Series and the Dow Jones Best-in-Class World and Asia Pacific Indices. Even as we navigated macroeconomic uncertainties, we did not waver in advancing our ESG commitments.

  We also engaged with proxy advisory firms and ESG rating agencies to ensure our disclosures meet their expectations and to understand their concerns. This active dialogue around ESG issues is now an integral part of our investor relations strategy, as we recognise that sustainable growth is essential to overcoming the global challenges we face.

  DELIVERING VALUE THROUGH PERFORMANCE

  Despite the year's challenges, we delivered resilient business results in FY2025, translating into continued value for our shareholders. The diversified nature of our portfolio -spanning Food Products, Feed & Industrial Products and Plantations - once again proved its worth in volatile times. Many of our core business segments achieved solid operating performances, which helped to offset temporary headwinds in other areas. The net effect was that we remained profitable, demonstrating the underlying strength of our integrated model and prudent risk management.

  We also continued to invest in strategic initiatives to drive future growth, while remaining mindful of near-term uncertainties. During FY2025, we focused on boosting operational efficiencies and reaping benefits from past expansion projects, which have started contributing to volume growth and productivity gains. We leveraged these investments to capture rising demand in key markets, particularly for high-quality, branded food products. We also sharpened our portfolio for long-term value: by assuming greater control in ventures like AWL in India, we positioned ourselves to accelerate decision-making and growth going forward.

  Crucially, we upheld our approach to rewarding shareholders, even as we navigated economic headwinds. The Board maintained a consistent dividend policy aimed at providing sustainable dividends while balancing reinvestment needs. For FY2025, the Board has declared an interim dividend of 4.0 Singapore cents per share and will recommend a final dividend of 10.0 Singapore cents per share, subject to shareholder approval at the upcoming AGM. This would bring total dividends for FY2025 to 14.0 Singapore cents per share, representing a payout of approximately 49% of net profit. We intend these payouts to reflect our confidence in the Group's financial strength and prospects, while remaining prudent given the year's challenges. Our ongoing ability to maintain relatively steady dividends even during trying times underscores our determination to deliver value to shareholders in a sustainable manner.

  Beyond dividends, our commitment to preserving shareholder value has been reflected in the market's recognition of our resilience. Despite the volatility experienced during 2025, Wilmar continued to rank among the largest companies by market capitalisation on the SGX. Analysts have also observed that the underlying value of our strategic assets may not always be fully reflected in prevailing market valuations, particularly over shorter time horizons. This underscores the importance of evaluating the Group's performance and prospects over the long term. As such, we remain focused on enhancing intrinsic value through disciplined operational execution, strategic initiatives and a prudent approach to capital management, with the objective of delivering sustainable long-term returns to shareholders.

  
  
  

  30

  WILMAR INTERNATIONAL LIMITED ANNUAL REPORT 2025 31
  
  HUMAN CAPITAL MANAGEMENT INFORMATION TECHNOLOGY

  At Wilmar, our commitment to investing in people drives every aspect of our Human Capital strategy. In 2025, we focused on two strategic pillars of employee development: building a future-ready workforce, and developing leaders.

  BUILDING A FUTURE-READY WORKFORCE

  At Shree Renuka Sugars Limited (SRSL), we run programmes such as "My Work, My Pride" and "Collaborate to Innovate"

  LEADERSHIP DEVELOPMENT

  At Wilmar, we believe that developing strong leaders is essential to building a resilient, high-performing organisation. By investing in programmes that enhance skills, foster accountability, and promote inclusive leadership, we equip leaders with the ability to guide teams, drive growth, and uphold our values in an ever-changing business environment.

  In today's volatile and demanding business environment, technological adversity is no longer an exception-it is the norm. At Wilmar, we have chosen to see these challenges as opportunities to innovate, adapt, and redefine the way we work. Our strategic focus on Business Process Automation (BPA) has been central to this transformation - beyond process optimisation and continuous improvement, we continue to modernise software development with Artificial Intelligence (AI)-powered tools, build scalable digital platforms and safeguard our digital assets to create a future-ready foundation for growth. This reflects Wilmar's determination to overcome adversity, embrace innovation, and position us for sustainable success in an evolving business landscape.

  to improve accountability, teamwork, and creative problem-solving among employees, enabling them to transform challenges into opportunities through ownership and innovation. These workshops encourage participants to identify real workplace issues, use empathy maps to understand stakeholders, and simulate customer interactions through case studies and roleplay for deeper insights. These initiatives are complemented by comprehensive safety training, including Food Safety, Good Manufacturing Practices and Physical Hazard Management programmes to strengthen operational excellence and workplace safety for both new and existing employees.

  
  
  

  Food Safety Training Week at SRSL.

  We expanded the number of internships and graduate roles with leading universities to strengthen our student-talent pipeline, especially in Engineering and Poultry Husbandry. In Fiji, collaborations with University of the South Pacific (USP) and Fiji National University (FNU) introduced curriculum co-creation, job shadowing, and plant tours of our engineering operations, bridging academic learning with real-world practice. These programmes also establish structured pathways for high-potential students to access industrial attachments, apprenticeships, and graduate trainee positions with Goodman Fielder Fiji.

  In Australia, we launched the Front-Line Leadership Programme to better support employees who lead teams in operational roles at our factories and production sites. These employees, who have mostly stepped into supervisory positions through experience, received additional training in coaching, communication, and change management. By the end of 2025, nearly 300 leaders have received more than 4,400 training hours, strengthening performance, engagement, and communication across our sites.

  Similarly in Europe, we guided leaders through focused sessions on openness, accountability and dialogue as part of our Safe Place to Work & Grow Leadership Journey.

  
  
  

  Operation leaders in Europe undergoing the Safe Place to Work & Grow sessions.

  In Myanmar, our Capability Building & Reskilling roadmap introduced leadership development programmes, reskilling initiatives, and cross-regional summits to equip managers and supervisors with the tools to navigate and lead effectively in a rapidly changing business landscape.

  Together, these initiatives reflect Wilmar's dedication to future-proofing our workforce-empowering employees at every level to rise above challenges and shape a stronger, more resilient tomorrow.

  REDEFINING WORK THROUGH BPA

  We embarked on a strategic BPA programme across the Group to ensure we stay agile, productive, efficient and competitive. An iterative approach allowed us to continuously refine our business workflows and processes, identify opportunities to digitise and apply AI and automation to simplify operations and free up teams to focus on high-value priorities. The rapid pace of change in AI requires us to constantly prepare, engage and equip our workforce with the necessary knowledge, skills and tools to keep up with adoption - moving from AI-powered digital assistants or Copilots to customised AI solutions to bring innovations, improvements and business value to Wilmar.

  TRANSFORMING OUR SOFTWARE DEVELOPMENT JOURNEY

  The Software Development Lifecycle (SDLC) is a structured process of planning, building, testing, deploying and maintaining software. To address requirements for faster delivery, consistent quality, and cost optimisation across our SLDC, we are introducing AI-driven automation throughout our development cycles. This shift is intended to streamline processes, support smaller teams in working efficiently and enhance agility. By utilising generative AI for code creation, automated testing and intelligent documentation, we aim to improve delivery timelines and quality, manage costs, and support successful project outcomes. This approach helps our teams remain adaptable and responsive, supporting continued value delivery and innovation in today's dynamic landscape.

  BUILDING A SCALABLE DIGITAL FOUNDATION THROUGH AUTOMATION

  We continue to modernise our digital platforms to enhance agility, scalability, and resilience. By moving from traditional systems to flexible, modular designs and automated processes, we accelerate delivery, reduce costs, and improve reliability. These advancements strengthen integration with emerging technologies and support our broader digital transformation, positioning Wilmar with a secure, resilient and future-ready foundation to meet evolving market demands.

  STRENGTHENING CYBER RESILIENCE WITH A SECURITY MODEL OF "ZERO TRUST" AND AI

  We advanced our strategic transformation towards a Zero Trust security model to safeguard our digital assets in an increasingly complex landscape of threats. A Zero Trust security model is a framework that assumes no user or device is trusted by default and requires continuous verification for every access request. This journey is not just a technological shift but a cultural one, requiring collaboration across IT, business units and leadership to embed security into every process and decision. To complement our Zero Trust strategy, Wilmar has invested in a next-generation security event management platform powered by AI. The integration of AI into this platform positions us to defend against ever evolving sophisticated cyber threats. These initiatives strengthen our resilience, support agile business operations and ensure that our digital platforms are equipped to meet evolving market demands with confidence.

  
  
  

  32 WILMAR INTERNATIONAL LIMITED ANNUAL REPORT 2025 33

  AWARDS & ACCOLADES

  CORPORATE AWARDS

  Wilmar International Limited Fortune Global 500, ranked 200th Fortune

  Fortune Southeast Asia 500, ranked 4th

  Fortune

  World's Most Admired Companies, ranked 1stin Food Production Industry

  Fortune

  Forbes Global 2000: The World's Biggest Public Companies, ranked 533rd

  Forbes

  Top 100 Singapore Brands, ranked 19th

  BrandFinance®

  Ranked 59thout of 467 companies on the Singapore Governance and Transparency Index

  The Business Times and the Centre for Governance, Institutions and Organisations

  CHINA

  益海嘉里金龙鱼食品集团 股份有限公司 Yihai Kerry Arawana Holdings Co., Ltd.

  • 2025上海企业100强第15位

    上海市企业联合会、上海市企业 家协会、上海市经济团体联合会

  • 2025上海制造业企业100强第5位

    上海市企业联合会、上海市企业 家协会、上海市经济团体联合会

  • 2025年度环球首发: 胡润中国食品行 业百强榜

    胡润百富

  • 中国上市公司品牌价值榜总榜TOP100

    每日经济新闻

  • 中国领军粮油企业、粮安中国杰出 贡献奖

    粮油市场报

  • 2025年度金曙光投资者关系奖

    证券市场周刊

    益海嘉里（开封）食品工业有限公司

    Yihai Kerry (Kaifeng) Food Industry Co., Ltd.

  • 国家粮食应急保障企业

    国家粮食和物资储备局

  • 河南省智能工厂

河南省工业和信息化厅

益海（广汉）粮油饲料有限公司

Yihai (Guanghan) Grain, Oil & Feed Co., Ltd.

• 2025年度四川省民营100强企业位列第81 位

  四川省工商业联合会

• 2025年四川省民营制造业100强企业位 列第59位

  四川省工商业联合会

• 2025年度德阳市非公企业50强

  德阳市工商业联合会

  益海嘉里（哈尔滨）粮油食品工业有 限公司

  Yihai Kerry (Harbin) Grain & Oil Food Industry Co., Ltd.

• 2025黑龙江民营企业100强榜单第20位

  黑龙江省企业联合会

• 2025黑龙江大豆油脂企业10强榜单第2 位

  黑龙江省企业联合会

• 2025黑龙江制造业企业100强榜单第39位

  黑龙江省企业联合会

  丰益（上海）生物技术研发中心有限 公司

  Wilmar (Shanghai) Biotechnology R&D Center Co., Ltd.

• 江西省科学技术进步奖二等奖

  江西省人民政府

• 第九届中国营养学会科学技术奖 一等奖

  中国营养学会

  泉州福海粮油工业有限公司

  Quanzhou Fuhai Grain & Oil Industry Co., Ltd.

• 2025年泉州民营企业100强第6位

  泉州市招商办、泉州市工商联、泉 州市企联

• 2025年福建省民营企业100强第41位

  福建省工商业联合会

• 2025年福建省制造业民营企业100强第27 位

  福建省工商业联合会

  BANGLADESH

  Bangladesh Edible Oil Limited

  • Great Place to Work Certification in 2025-2026

    Great Place to Work Institute

    INDIA

    AWL Agri Business Limited

  • Most Versatile Brand of the Year

    India Influence Conclave 2025

  • Excellence in Business Continuity Through Security Planning

    IFSEC India Awards

    GHANA

    Wilmar Africa Limited

  • Manufacturing Company of the Year Responsible Business and Leadership Excellence Awards 2025

  • Fair Trade Excellence Award

    Responsible Business and Leadership Excellence Awards 2025

  • Manufacturing Food Products Company of the Year

    Ghana National Chamber of Commerce and Industry

    NIGERIA

    PZ Wilmar Limited

  • Pacesetter Recognition Award as a pioneer company to adopt the Digital Fortification Quality Traceability Plus Initiative

    Millers for Nutrition

    UGANDA

    Bidco Uganda Ltd

  • 2025 Best Visionary Manufacturing Company of the Year

    Visionaries of Uganda Awards

  • Leading Manufacturer of Fast-Moving Consumer Goods (FMCG) in East Africa

East Africa Brand Quality Awards

VIETNAM

Calofic Corporation

• Golden Dragon Award

  Vietnam Economic Journal

• Top 10 Reputable Companies in Food & Beverage 2025

  Vietnam Report

  Wilmar CLV Group

• Most Chosen Fast-Moving Consumer Goods Brand in Rural Areas

  Kantar's Brand Footprint Report 2025

  Nam Duong International Foodstuff Corporation

• Vietnamese High-quality Goods Award

  Business Research Centers and Business Support

• Top 10 Reputable Companies in Food & Beverage 2025

  Vietnam Report

  Vinh Flour Mills Limited

• Vietnamese High-quality Goods Award

  Business Research Centers and Business Support

  Vinh Phat Wilmar Rice Corporation

• Vietnamese High-quality Goods Award

  Business Research Centers and Business Support

  
  
  

  34 WILMAR INTERNATIONAL LIMITED ANNUAL REPORT 2025 35

  AWARDS & ACCOLADES

  SUSTAINABILITY AWARDS

  SINGAPORE

  • Ranked 1stand recognised as a ''Leader'' in the Children's Rights Benchmark

    Global Child Forum

  • Maintained inclusion in the Dow Jones Best-in-Class World and Asia Pacific Index

  • Retained inclusion in the FTSE4Good Index Series

  • Received an 'AA' rating in the Morgan Stanley Capital International (MSCI) ESG Rating Report

  • 2025 GeoInnovation Award for visionary Geographic Information System solutions

Esri Indonesia

CHINA

益海嘉里金龙鱼食品集团 股份有限公司 Yihai Kerry Arawana Holdings Co., Ltd.

• 2025年度ESG社会责任实践领先企业

  广东时代传媒集 团

• 2025 ESG先锋企业

  财联社

• 入选标普"全球版"《可持续发展年鉴 2025》

  S&P Global

• 行业最佳进步 企业

  S&P Global

• 上市公司韧性发展奖

  金融界

  益海（广汉）粮油饲料有限公司

  Yihai (Guanghan) Grain, Oil & Feed Co., Ltd.

• 助力乡村振兴奖

  四川省侨联、四川省侨商会

  益海嘉里（郑州）食品工业有限公司

  Yihai Kerry (Zhengzhou) Food Industry Co., Ltd.

• 河南省绿色工厂

  河南省工业和信息化厅

• 郑州市绿色工厂

郑州市工业和信息化局

益海嘉里（合肥）粮油工业有限公司

Yihai Kerry (Hefei) Grain & Oil Industry Co., Ltd.

• 安徽省绿色工厂

  安徽省工业和信 息化厅

• 合肥市重点产业 链企业

  合肥市农业农村局

  内蒙古荷丰农业股份有限公司

  Inner Mongolia Hefeng Agriculture Co., Ltd.

• 内蒙古自治区绿色工厂

  内蒙古自治区工业和信息化厅

• 2025年度内蒙古自治区节水型企业

内蒙古自治区工业和信息化厅与 水利厅

INDIA

AWL Agri Business Limited

• Fortune SuPoshan - Exceed Award 2025 for Best Efforts in Nourishing the Nation's Youngest Hearts Sustainable Development Foundation

• Fortune SuPoshan - E4M Indian Content Marketing Awards for Social Impact

  exchange4media Impact Influencer Marketing Conference 2025

  INDONESIA

  PT Multimas Nabati Asahan

• Earned Proper Blue rating for environmentally sustainable practices

  Ministry of Environment and Forestry

  PT Multimas Nabati Gresik

• CSR Award 2025 for Most Committed Corporate to Infrastructure and Environment, Health, Education, Social and Religious Affairs

  The Environmental Agency of Gresik Regency

  CONSUMER PRODUCT AWARDS

  BANGLADESH

Rupchanda

Superbrands Bangladesh

金龙鱼

• 2025年C-BPI食用油、大米、面粉品牌 力榜首

  中国北京-品牌评级机构Chnbrand

• 上榜2025年C-CSI中国顾客满意度指数 行业TOP1品牌榜

  （食用油行业）

  中国北京-品牌评级机构Chnbrand

• 上榜2025年度亚洲品牌500强

  世界品牌实验室(World Brand Lab)

• 上榜2025年度中国500最具价值品牌 排行榜

  世界品牌实验室(World Brand Lab)

• 中国粮油领军品牌

  粮油市场报

  金龙鱼丰益堂

• 2025年度食品饮料行业创新案例 - 产 品创新案例

每日经济新闻

Fortune

• ET Brand Disruption Award 2025

  INDONESIA

The Economic Times

Sania

• Superbrands Indonesia 2025 (Cooking Oil, Flour and Rice Categories)

  Superbrands in collaboration with Grandindo Konsultama and Nielsen

• Top Brand Award 2025 in Recognition of Outstanding Achievement in Building the Top Brand (Cooking Oil and Rice Categories)

  NIGERIA

Frontier Consulting Group and Majalah Marketing

Devon King's

• Golden Brand Award (Cooking Oil)

Marketing Edge

Mamador

• 2025 Micronutrient Fortification Index Top Five Excellence Award

  Millers for Nutrition

  UGANDA

White Star

• Best Laundry Soap

  People's Choice Quality Awards 2025

• Best Manufacturer of Laundry Soap in East Africa

  East Africa Brand Quality Awards 2025

• Best Manufacturer of Washing Detergent in East Africa

  East Africa Brand Quality Awards 2025

  Magic Detergent

• Best Detergent

  People's Choice Quality Awards 2025

  Fortune Butto

• Best Oil

  People's Choice Quality Awards 2025

• Most Preferred Edible Vegetable Oil in East Africa

  East Africa Brand Quality Awards 2025

  Fortune Tambi

• Best Manufacturer of Pasta/Spaghetti in East Africa

  East Africa Brand Quality Awards 2025

  VIETNAM

Simply

• Most Chosen Brands in Vietnam Award - Top 20

  Kantar's Brand Footprint Report 2025

  Meizan

• Most Chosen Brands in Vietnam Award - Top 20

  Kantar's Brand Footprint Report 2025

  ZIMBABWE

Buttercup Margarine

• Winner (FMCG Spreads Sector) Superbrand of the Year 2025

  Marketers Association of Zimbabwe (MAZ)

  Puredrop

• 1stRunner-up (FMCG Cooking Oil Sector) Superbrand of the Year 2025

  Marketers Association of Zimbabwe (MAZ)

  Jade

• Winner - Leading Soap Brands Award

Buy Zimbabwe

36 WILMAR INTERNATIONAL LIMITED ANNUAL REPORT 2025 37

SUSTAINABILITY

OUR APPROACH TO SUSTAINABILITY

As a global leader in the agrifood industry, Wilmar is well-positioned to leverage our resources, networks and expertise to create lasting positive impacts across our commodity supply chains. We are dedicated to producing food, animal feeds and agri-products responsibly and ethically. Our sustainability approach is anchored on four key areas that guide performance across all business segments:

• Protecting the Environment

• Looking After People and Communities

• Transforming Our Supply Chain

• Delivering Product Excellence

Our commitment to responsible sourcing and supply chain transformation is underpinned by our No Deforestation, No Peat, No Exploitation (NDPE) Policy introduced in 2013 and our No Deforestation, No People Exploitation (NDPE) Sugar Policy introduced in 2021. Our global operations are guided by these two core policies, together with our broader frameworks on environmental stewardship, human and labour rights, health and safety, diversity and inclusion, child protection, food safety, and responsible business conduct.

Visit our Sustainability Dashboard (www.wilmar-international.com/sustainability) to learn more about our suite of sustainability policies and the latest updates on our sustainability work.

PROTECTING THE ENVIRONMENT

Wilmar was among the early adopters of the High Conservation Value (HCV) approach, identifying areas of high ecological importance and designating them as protected zones. This reflects our strong commitment to environmental stewardship and our role in setting a positive industry benchmark.

BIODIVERSITY AND CONSERVATION

Protecting Biodiversity

In August 2025, we renewed our partnership with Universiti Malaysia Sarawak (UNIMAS), providing their conservation biologists with continued access to our Sarawak oil palm estates for comprehensive biodiversity surveys.

We safeguard biodiversity across our operations and supply chains in line with our comprehensive NDPE Policy. We strive to achieve two key objectives:

• Manage and sustain biodiversity and ecological functions within Wilmar-owned conservation areas and the broader landscapes in which we operate; and

• Provide technical support and guidance to our stakeholders, including suppliers, to integrate biodiversity conservation into plantation management.

  Guided by our No Deforestation and No Peat commitments, we maintain over 32,000 hectares of conservation areas across the Group. All identified HCV and High Conservation Stock (HCS) areas are monitored and maintained as conservation areas based on evaluations done to date for our palm oil operations. This crucial evaluation work is carried out by a dedicated team of qualified High Carbon Stock Approach (HCSA) practitioners, along with licensed

  The Gibbon Rehabilitation and Reintroduction Programme, Riparian Rehabilitation Project and the Sekar Imej Conservation Area Project are among our flagship conservation initiatives. We continuously engage with local communities, civil society organisations, governments and suppliers to effectively conserve biodiversity within Wilmar's operations and surrounding regions.

  We apply similar principles to our sugar operations. New sugarcane farms are required to demonstrate they do not operate in HCV areas or protected regions.

  Protecting Peatlands

  Our NDPE Policy prohibits new development on peatlands, as drained or dry peatlands pose high fire risks and carbon release potential. We adhere to best management practices established by peatland experts and the Roundtable on Sustainable Palm Oil (RSPO) in our oil palm plantations classified as peat developed prior to the introduction of our NDPE Policy. Maintenance of optimal water levels to reduce peat subsidence and mitigating greenhouse gas (GHG) emissions are examples of such best management practices.

  Recognising the extraordinary capacity of peatlands as carbon sinks, we partner with experts and local communities to explore restoration strategies. We also actively participate in knowledge-sharing platforms and multi-stakeholder initiatives such as the Fire Free Alliance. Beyond complying with local regulations on peat rehabilitation and restoration, we support peatland conservation targets set by the Ministry of Environment and Forestry of Indonesia.

  Fire Prevention, Monitoring and Suppression

  We have implemented an integrated fire monitoring platform to oversee our plantation operations since 2020, enabling our field managers in Indonesia, Ghana and Nigeria to directly receive hotspot data via a web-based messaging app. This platform was developed by our in-house geographic information system and information technology teams. Meanwhile in Malaysia, we continue to leverage NASA's fire monitoring data to enhance our fire prevention efforts.

  On top of our internal monitoring, we collaborate closely with the RSPO to share fire-related data and verify hotspot alerts through the RSPO Hotspot Monitoring Programme.

  Once a fire incident is confirmed, we promptly deploy our response teams to manage and extinguish the fire.

  CLIMATE CHANGE

  In early 2025, Wilmar achieved a major milestone by becoming the only Singapore-listed agriculture company to have both our near- and long-term emissions reduction targets validated by the Science-Based Target initiative (SBTi). The approved targets were validated under the SBTi Corporate Net-Zero Standard and the SBTi Forest, Land, and Agriculture (FLAG) Guidance.

  Near-term targets:

• 50.4% reduction in Scope 1 and 2 emissions and 30.0% reduction in Scope 3 (selected categories*) emissions by 2032 from a 2022 baseline.

• 36.4% reduction in FLAG Scope 1 and 3 emissions by 2032 from a 2022 baseline.

  Net-zero targets:

• 90.0% reduction in Scope 1, 2 and 3 emissions (selected categories*) by 2050 from a 2022 baseline.

• 72.0% reduction in FLAG Scope 1 and 3 emissions by 2050 from a 2022 baseline.

  We will progressively reduce GHG emissions across our operations and are implementing targeted initiatives throughout material business segments. Emissions reduction roadmaps have been modelled for key regions with several main initiatives, such as exploring power purchase agreements for renewable electricity, increasing the use of biomass fuel and solar energy to replace fossil fuels, pursuing nature-based solutions for land-based emissions and encouraging our suppliers to embark on the same journey.

  In 2024, we conducted a quantitative scenario assessment to evaluate potential financial impacts under selected hypothetical climate-related scenarios published by the Network for Greening the Financial System and the Intergovernmental Panel on Climate Change. The assessment identified key climate risks and opportunities for the Group as well as their potential financial impacts on our business over varying timeframes. These outcomes provided us with an understanding of the potential financial implications of climate change on the Company and supported better integration of climate risks and opportunities into the

  HCV-HCSA assessors.

  * Purchased goods and services, fuel- and energy-related activities, upstream transportation and distribution, distribution and processing of sold products

  for near-term target. The net-zero target also includes downstream transportation and distribution.

  
  
  

  38 WILMAR INTERNATIONAL LIMITED ANNUAL REPORT 2025 39

  SUSTAINABILITY

  Company's enterprise risk management to ensure business resilience in the long run.

  Together, these complementary initiatives form a robust framework that strengthens our efforts to reduce our carbon footprint and mitigate climate-related impacts on our operations.

  ENVIRONMENTAL FOOTPRINT OF OUR OPERATIONS

  Wilmar actively promotes and implements efficient resource management measures, including for energy, water and waste. Our steadfast commitment to controlling the environmental impact of our operations is detailed in our Environmental Policy.

  We prioritise the reuse, recovery and recycling of waste materials while ensuring the responsible management of waste, effluents and chemicals. Across our global operations, we maintain full compliance with local environmental laws and regulations, upholding the highest standards of environmental stewardship.

  Biomass is the primary source of renewable energy in our upstream operations. The principal fuel that powers our boilers includes empty fruit bunches (EFB), palm kernel shells and palm mesocarp fibre in our palm oil mills across Asia and Africa, as well as cane bagasse in our sugar mills in Australia and India.

  In our factories, we deploy a variety of technologies to reduce energy consumption, improve energy efficiency and reduce reliance on fossil fuels. These technologies include high-efficiency boilers, cogeneration, steam condensate recovery, waste heat recovery, biogas capture and rooftop solar systems, among others. Collectively, these initiatives lower our operational emissions.

  We have executed water conservation measures such as reusing cooling tower blowdown water, reusing reverse osmosis reject water for non-food applications, recycling wastewater, and implementing Group-wide water-saving campaigns. These initiatives underscore our dedication to sustainable resource management and environmental stewardship.

  We adopt a holistic approach to managing water use in our oil palm operations. To reduce treated water consumption, we harvest rainwater and recycle wash water to meet high-demand areas such as nursery irrigation and household needs. Such measures also deliver long-term cost efficiencies.

  From investing in state-of-the-art wastewater treatment technology to continuous monitoring of discharge quality, we have implemented comprehensive measures to protect the quality of our discharged water. We adhere strictly to all local discharge limits set by regulators in the countries we operate in.

  We are committed to the principles of a circular economy, focusing on minimising waste generation. In our upstream palm operations, all waste is recovered and reused. Organic materials such as EFB, palm mesocarp fibre and palm kernel shells are repurposed as fuel or organic fertiliser. Similarly, in our sugar milling operations, by-products like press mud, ash, sludge and yeast sludge are applied to enhance soil quality.

  In our factory operations, we adhere to the waste management hierarchy, striving to minimise landfill waste. Wherever possible, we optimise production processes to maximise waste recovery and further reduce the waste sent to landfills.

  SUSTAINABLE PACKAGING

  We continuously optimise our production processes to minimise packaging material use, source packaging materials that are recyclable, reusable or compostable, and improve sourcing criteria to ensure our packaging materials come from sustainable sources.

  Our packaging team adopts a data-driven approach to managing packaging consumption and waste through an annual Global Packaging Data Questionnaire initiated in 2020.

  We tailor our packaging solutions and strategies to align with local regulations and customer expectations. Each region actively drives our sustainable packaging agenda through dedicated committees and regular progress reviews.

  Our subsidiaries, specifically Yihai Kerry Arawana in China and Goodman Fielder in Oceania, have redesigned their product packaging and shipping boxes to incorporate recycled plastics or paper as well as reduce packaging weight without compromising on strength, durability and quality.

  LOOKING AFTER PEOPLE AND COMMUNITIES

  Wilmar is committed to upholding human rights and labour standards across all regions where we operate. We recognise and respect the inherent dignity of each individual and embrace the cultural diversity of local communities.

  HUMAN RIGHTS AND LABOUR STANDARDS

  Our approach to human rights and labour is guided by international norms, specifically:

  • Universal Declaration of Human Rights

  • International Labour Organisation Core Conventions

  • United Nations (UN) Guiding Principles on Business and Human Rights

    We ensure every aspect of our operations and value chain upholds human rights principles and best practices.

    HUMAN RIGHTS FRAMEWORK AND POLICIES

    In 2019, the Group introduced a comprehensive Human Rights Framework grounded in the UN Guiding Principles on Business and Human Rights. This framework encompasses our NDPE Policy, Human Rights Policy, Whistleblowing Policy and Grievance Procedure, providing structured guidance for operationalising human rights principles. It includes rigorous due diligence processes to identify, prevent, mitigate and address potential human rights impacts.

    To strengthen this framework, we engaged human rights experts and civil society organisations to help assess our progress and fine-tune our approach, which culminated in the development of our Human Rights Defender Policy.

    Our collaboration with Dignity in Work for All, an independent non-profit specialising in labour advocacy, has empowered us to address systemic labour and human rights challenges, especially the root causes of child labour and other emerging labour issues.

    We remain committed to maintaining safe, fair and respectful workplaces and communities. Across our global operations, we comply with local, national and ratified international human rights and labour laws. Where legislation is absent or limited, our policies align with international best practices to ensure consistent protection of rights.

    LIVING WAGE

    We conduct comprehensive assessments to ensure that our employees and contractors across our palm oil operations receive at least the minimum wage in line with local regulations or the local living wage. In addition, we assess our suppliers using the Supplier Reporting Tool (SRT) against criteria such as the provision of food, water, accommodation, healthcare, transport, education and childcare.

    Wilmar contributes to the development of living wage benchmarks for regions covered by the RSPO. From 2021 to 2023, we co-chaired the RSPO Living Wage Task Force and remain an active and committed member today. While the RSPO Guidance for Implementing a Living Wage is still being finalised, Wilmar has contributed technical input -particularly on prevailing wage calculations - which has been incorporated into RSPO's working drafts and benchmarking discussions.

    In countries where a living wage benchmark has yet to be formally established, our estate employees are paid at least the minimum wage. Beyond wages, our oil palm plantations provide a range of amenities, including housing, childcare, healthcare and education facilities, transport services and access to utilities, to safeguard the well-being of workers and their families.

    RECRUITMENT OF WORKERS

    Wilmar adopts a responsible recruitment approach across our oil palm operations, engaging workers through direct hiring or ethically recruiting from their home countries. We are committed to safeguarding against risks of human trafficking, forced labour and other exploitative practices, including contract misrepresentation and debt bondage arising from high recruitment fees charged by agents.

    In Malaysia and Indonesia, where recruitment agencies are involved, their responsibilities are confined to logistical support and legalisation processes. All recruitment-related expenses are borne by Wilmar, and designated personnel oversee the process to ensure full transparency, legal compliance and the prevention of any human rights violations.

    Similarly, in Ghana and Nigeria, our contracted agents handle only logistical and administrative tasks, while Wilmar manages all aspects of salary and remuneration directly to minimise exploitation risks.

    
    
    

    40 WILMAR INTERNATIONAL LIMITED ANNUAL REPORT 2025 41

    SUSTAINABILITY

    PROTECTING CHILDREN'S RIGHTS

    Wilmar is firmly committed to protecting children's rights and ensuring their well-being across all our operations. We uphold a strict zero-tolerance policy for child labour, exploitation and any form of abuse. Recognising that risks are more pronounced in our upstream operations, we prioritise our focus on these areas to ensure that safeguarding children remains integral to our practices and day-to-day operations.

    Underpinning Wilmar's holistic approach to child protection across our plantations and supply chain is our Child Protection Policy, supported by industry-specific resources such as the Child Protection Implementation Manuals in Malaysia and Indonesia, which go beyond child labour prevention.

    The Group's approach to child protection focuses on three core areas:

  • Embed protection in operations

  • Empower children through education and awareness

  • Extend child protection measures into the supply chain

    Across our operations in Asia and Africa, the Group provides nurseries, schools or community learning centres, clinics, housing and access to utilities to ensure that the children of our employees thrive in a safe and nurturing environment. Our Women's Working Groups (WoW) partner with plantation

    clinics to review health records to gain insights into the well-being of mothers, infants and children to identify areas of concern.

    We have conducted child safety assessments in our upstream palm operations in Malaysia and Indonesia since 2018, and expanded these assessments to our African operations in 2020. Child safety remains a core element of our Child Protection Policy, with all child-related incidents required to be reported immediately, investigated and addressed in line with established procedures. Continuous monitoring by our teams ensures risks are identified and mitigated at all times. An internal team, independent of the plantation's reporting structure, conducts assessments to objectively identify risks, address ongoing issues, and document existing interventions aimed at enhancing child safety.

    In 2025, we emerged once again as the only company among over 1,800 companies across eight sectors and 33 industries with a combined revenue of US$40 trillion, to achieve a perfect score in The State of Children's Rights & Business Benchmark by the Global Child Forum and Boston Consulting Group. This marks our fourth consecutive year of achieving a 10/10 score. Headquartered in Stockholm, the Global Child Forum is a non-profit founded in 2009 by the Swedish royal family to advance children's rights in support of the United Nations Convention on the Rights of the Child.

    EMPLOYEE HEALTH, SAFETY AND WELL-BEING

    From plantations and factories to offices and distribution networks across Asia, Africa, Europe, the Americas and Oceania, safety is more than a priority - it is a shared responsibility and a core value that shapes how we lead, work and care for one another at Wilmar.

    Building on the success of our occupational health and safety campaign last year, we kicked off a second global "Lead Safety, Live Safety" campaign in 2025. This year's campaign was anchored on four key pillars to foster a strong, safety-first culture:

  • Visible Leadership - Leaders set the tone by actively championing health and safety.

  • Empowerment & Accountability - Encourage teams to make safe decisions and support one another.

  • Strengthening Safety Culture - Make safety a shared value, not just a checklist.

  • Proactive Risk Management - Identify risks early, act quickly and lead from the ground up.

    By embedding these four pillars into our everyday work, we are creating safer, more resilient workplaces for all.

    The campaign kicked off with a leadership video message that reinforced our top management's personal commitment to safety and the role every employee plays in maintaining safe workplaces. Core activities included a 14-day safety leadership challenge, peer-to-peer spot audits on life-saving rules, a safety climate survey, a continuous improvement challenge, reward and recognition, as well as fire safety programmes. Leaders engaged teams in meaningful daily safety interactions, while the improvement challenge empowered teams to identify practical opportunities to make sites safer, driving innovation and collaboration across operations.

    Key Initiatives and Achievements in 2025:

• Reducing Serious Injuries: Over 98% of our sites maintained zero fatalities.

• Safety Leadership Development: Our Group Safety Leadership Programme trained a total of 2,052 employees, including 1,638 graduates across 18 countries. Site managers continue to lead committees and Environmental, Health and Safety (EHS) walkabouts.

• Fire Safety and Life-Saving Rules: We fully deployed our global fire safety action plan and life-saving rules across all manufacturing and construction sites. With oversight from a dedicated Steering Committee, employees completed fire safety training through our Learning Management System (LMS), and ongoing risk assessments have bolstered fire safety and emergency preparedness.

  In May and June 2025, we conducted two trainings on child sexual abuse and exploitation in Sabah, Malaysia, involving representatives from 16 supplier companies.

  In 2025, Wilmar's second global "Lead Safety, Live Safety" campaign saw enthusiastic participation from our subsidiaries worldwide, reinforcing our commitment to workplace safety.

  
  
  

  42 WILMAR INTERNATIONAL LIMITED ANNUAL REPORT 2025 43

  SUSTAINABILITY

  • Proactive Risk Management: Continuous audits and safety leadership training have strengthened hazard identification and mitigation. Our High-Risk Work Gap Assessment remained strong at 85%.

  • Transparent Reporting Culture and SIF Intervention: Through the Enablon platform, we achieved a 99% closure rate for reported Hazards and Near Miss events. Our approach reinforces reporting and intervention in Serious Injury and Fatality potential risks.

  • Integrated EHS Management Systems: More than 24% of Wilmar's facilities are certified to EHS management systems such as ISO 14001:2015 and ISO 45001:2018. In 2025, 21 sites completed our Global EHS Audit Programme, receiving "Good" or "Moderate" ratings, while major oleochemical sites underwent third-party Process Safety Management audits.

  • Digital Safety Tools Expansion: The upgraded Enablon platform streamlines reporting and compliance tracking, and one new course (Safety Moments) was added to the LMS for over 300 new users, bringing the total number of users to 4,525.

  • EHS Awareness and Competency Building: Over 20,000 employees successfully completed EHS courses through the LMS. A total of 26 EHS courses and 68 learning modules are available to our employees across 20 countries and regions, including specialised training for plantation workers in harvesting, motorcycle competency and tractor safety. In addition, selected Country EHS Leads are registered members of the Institution of Occupational Safety and Health and are undergoing competency assessments.

We continue to foster a safety culture that goes beyond compliance and is rooted in a collective commitment to employee well-being. Our progress reflects a dedication to reducing injuries, strengthening leadership, promoting transparent reporting and advancing EHS competencies. By prioritising safety, we are creating a healthier and more productive environment for all employees.

DIVERSITY AND INCLUSION

At Wilmar, we are committed to fostering a diverse and inclusive work environment that provides equal opportunities for all. We believe diversity enriches our workforce with fresh perspectives, enabling us to better serve our broad customer base.

To build an inclusive organisation, we have established policies, such as our Equal Opportunity Policy and our Board Diversity Policy. Country and Business Heads are responsible for ensuring these principles are consistently upheld across the workplace.

In Australia, Goodman Fielder is a proud member of Diversity Council Australia, an independent organisation at the forefront of supporting businesses towards equitable diversity and inclusion in the workplace. This partnership has enabled us to better understand and apply diversity, equity and inclusion (DEI) insights and trends in our corporate strategy.

In 2025, over 95% of Goodman Fielder Australia's employees participated in an optional annual culture and engagement survey, which collected anonymised demographic data, including caregiving status, gender, age range, cultural identity, languages spoken and gender and sexual identity. Employees were also asked if they would benefit from workplace adjustments to accommodate a disability, illness or condition.

Using insights from the survey, we launched an evidence-based DEI strategy in Australia, focusing on gender equity and reconciliation. Our gender equity working group is identifying measurable indicators and suitable baseline quantitative and qualitative data to objectively evaluate the impact of our gender initiatives on access to careers, rewards and a safe working environment. Another highlight was engaging employees on the impact of menopause for women in the workplace as part of our International Women's Day learning sessions in March.

As part of our contribution to the reconciliation between First Nations people and non-Indigenous Australians, we delivered our first Reconciliation Action Plan and established an enduring Reconciliation Strategy in 2025.

We continued our integrated internship programme with CareerSeekers, an organisation that supports refugees and asylum seekers who are either studying at universities or restarting their professional careers. Through this collaboration, Goodman Fielder is attracting diverse talent, providing them with long-term career opportunities and job security while fostering cultural exchange across our workforce.

In 2019, we launched our Women's Charter to strengthen gender equality and support women's well-being across all Wilmar operations - from plantations and factories to corporate offices. Reinforced by policies on sexual harassment, violence and abuse, and reproductive rights, the Charter focuses on five key areas:

1. Protection and care of female health

2. Care of family life and welfare

3. Protection from sexual harassment and violence

4. Non-discriminatory, fair and equal opportunities at work and in worker representation

5. Continuous education for personal and family life improvement

Women's committees were first established in our oil palm plantations in 2007, and in 2019, we formed the Women's Committee Steering Group to ensure alignment with the five focus areas across our operations. Today, we have WoW or Gender Committees in all our oil palm plantations in

Indonesia, Malaysia, Ghana and Nigeria, promoting women's health through training on reproductive rights, birth control and cancer screenings, as well as equal access to healthcare.

We also educate parents on childhood nutrition and collaborate with local health authorities on vaccination campaigns. To ensure children's safety, we provide crèches on plantations which maintain records for attendance and immunisation. WoW and Gender Committees further serve as channels for the investigation of sexual harassment allegations and provision of training on gender-based violence.

TALENT MANAGEMENT

With a global workforce of about 100,000 people across 40 countries and regions, our employees are central to Wilmar's success. We prioritise attracting and retaining the right talent while fostering an engaging and inclusive workplace aligned with the highest standards of human and labour rights across our business and supply chain.

We recognise the value of local talent, knowledge and networks, emphasising the employment of locals across our global operations. In our upstream sugar operations, where sugarcane is a seasonal crop, we employ temporary workers to meet harvest demands, perform time-bound tasks and fulfil specialised roles.

We are committed to employee development through diverse courses available on our e-platform. We are building a robust training framework to enhance both soft skills and technical knowledge in support of career growth. Entry-level courses are made available via Litmos, a global corporate learning management platform, while advanced programmes focus on technical expertise and leadership, encouraging collaboration and knowledge sharing among Wilmar employees worldwide.

We piloted a gender-based violence prevention programme at PT Mustika Sembuluh in Central Kalimantan, Indonesia, equipping participants with practical tools and confidence to address GBV-related concerns.

44 WILMAR INTERNATIONAL LIMITED ANNUAL REPORT 2025 45

SUSTAINABILITY

Our Good Agricultural Practices training in Aceh Singkil, Indonesia, brought together 60 independent smallholders in August 2025 for practical sessions on oil palm health, leaf and soil sampling, and strategies to boost productivity sustainably.

ECONOMIC AND COMMUNITY CONTRIBUTIONS

At Wilmar, we recognise that our long-term success is closely linked to the well-being and empowerment of the communities surrounding our operations.

The establishment of our oil palm estates has driven infrastructure development in remote rural areas, including roads, electricity and access to safe drinking water. We further contribute by creating stable employment, building schools and enhancing road networks to improve accessibility within and around our plantations.

Our independent smallholder programmes are tailored to address region-specific challenges. In Malaysia, we prioritise fertiliser provision and application, while in Africa and Indonesia, we focus on best agronomic practices and the inclusion of smallholders in our supply chain. These programmes help farmers achieve relevant certifications and build expertise to ensure compliance with our NDPE Policy.

We empower each subsidiary to manage community contributions in ways that meet local needs, which may include donations, employee volunteering and in-kind support. This approach allows us to create meaningful and locally relevant impacts across all regions where we operate.

TRANSFORMING OUR SUPPLY CHAIN

Responsible sourcing and supply chain transformation have long been strategic priorities for Wilmar. We recognise that our ability to influence our supply chain carries significant environmental and social impact. To drive meaningful change, we actively engage and collaborate with suppliers to advance sustainable agriculture and food production.

Our approach includes traceability and transparency initiatives, continuous monitoring and capacity-building programmes to ensure our suppliers in the palm oil and cane sugar supply chains adhere to Wilmar's sustainability commitments.

From just 10 members in 2006, our GIS team in Indonesia has expanded to 50 specialists across Yogyakarta and Kalimantan, driving traceability and reinforcing our sustainability goals.

Suppliers are required to comply with our rigorous standards covering product quality and safety, environmental protection, labour and human rights, business integrity and legal compliance. A detailed and transparent overview of our sustainability progress in the palm oil supply chain is available in our NDPE report, published alongside our annual Sustainability Report since 2021.

RESPONSIBLE SOURCING IN OUR PALM OIL SUPPLY CHAIN

Since mid-2013, we have maintained an extensive traceability programme to support the implementation of our NDPE Policy, especially as a significant portion of our impact is associated with third-party suppliers. Through our Supplier Group Compliance Programme, we deploy satellite technology to monitor supply chains, and we use the SRT to actively track suppliers' compliance and progress towards meeting our NDPE commitments.

To uphold transparency, we publish comprehensive supplier information in the Traceability section of our Sustainability Dashboard. This includes parent company, mill/refinery/ trader/bulker name, location, levels of traceability to the mill and plantation, as well as information on progress related to sustainability.

ETHICAL SOURCING IN OUR SUGAR AND COCONUT SUPPLY CHAINS

Since the launch of Wilmar's NDPE Sugar Policy in 2021, we have collaborated with our network of suppliers and buyers to promote and encourage its adoption. Using the SRT as the primary platform for engagement and monitoring of mill suppliers, we are able to identify areas for improvement, strengthen partnerships through awareness initiatives and capacity-building programmes, and advance sustainability across the industry.

Our Coconut Responsible Sourcing Policy, introduced in 2023, sets out core principles and approaches to cultivate strong partnerships and drive positive change within the coconut sector. We aim to establish a transparent, ethical and responsible coconut supply chain that supports rural communities and resilient livelihoods. Consistent with our traceability and transparency efforts in palm oil and cane sugar, we are implementing similar measures to advance traceability in our coconut supply chain.

Wilmar remains committed to leading the way in sustainable and ethical sourcing across all agricultural commodities we trade. Through comprehensive initiatives and collaborations, we aim to create a lasting positive social and environmental impact across our diverse supply chains as a responsible global agribusiness.

Wilmar signed a memorandum of understanding with the Siak Pelalawan Landscape Programme in August 2025, committing to support ISPO certification for smallholders, deliver farmer training and engage in multi-stakeholder initiatives to advance landscape-level sustainability.

46 WILMAR INTERNATIONAL LIMITED ANNUAL REPORT 2025 47

SUSTAINABILITY

DELIVERING PRODUCT EXCELLENCE

We are dedicated to developing products that promote the health and well-being of our consumers. Our commitment to product excellence is reflected through continuous innovation, rigorous research and development (R&D), and transparent marketing and labelling practices, all of which ensure we meet the highest standards of quality and safety.

RESEARCH AND DEVELOPMENT

Our strategic focus remains firmly on adopting innovative and advanced technologies to drive progress. To strengthen our R&D initiatives, we partner with renowned experts, academic institutions and research centres across Australia, China, New Zealand and Singapore, among others. These collaborations provide access to a global talent pool and strengthen our research and innovation capabilities.

YKA R&D Centre's research on "Key Technological Innovation and Industrialisation of Soy Protein and Phytosterols Based on Nutritional Health Needs" bagged the Science and Technology Award from the Chinese Nutrition Society in 2025.

In 2025, the YKA R&D Centre's research on "Key Technological Innovation and Industrialisation of Soy Protein and Phytosterols Based on Nutritional Health Needs" bagged the Science and Technology Award from the Chinese Nutrition Society. Its collaborative research on "Innovation and Industrialisation of Key Technologies for the Precise Nutrition Design and Green Bio-Manufacturing of Human Milk Fat Substitutes" also won the Science and Technology Award (First Class Prize) from the Chinese Cereals and Oils Association. These achievements demonstrate our progress in advancing the development of efficient manufacturing processes and nutritional, healthy products for our consumers.

Improving Yields and Reducing Pressure on Land Use

Wilmar's ongoing oil palm cloning programme, which identifies high-performing varieties based on criteria such as yield potential, is expected to boost harvests by up to 30% without expanding land use. Our clonal labs in Central Kalimantan and West Java, Indonesia, are scaling up their annual production capacity to 500,000 clonal palms by 2026.

Our R&D team is working directly with plantations in Indonesia to implement a genome-wide association study to further advance our palm breeding programme.

In our sugar operations, Wilmar Sugar Australia has been applying genomic selection technologies since 2021 to develop better parents for sugarcane plant breeding. The top 30 parents, carefully chosen from crosses made between 2022 and 2023, have shown significant improvements in their mean genomic estimated breeding value. As newer variants replace older ones, the average age of the top 30 parents has declined from 14 years to six, accelerating breeding cycles and improving genetic performance.

Improving Nutrition

Wilmar is in the third year of our second five-year joint research programme on enzyme development and biotransformation processes conducted with the National University of Singapore and the National Research Foundation, Singapore.

In 2024, Goodman Fielder launched its Nutrition Policy in New Zealand, demonstrating its commitment to improving the nutritional value of its products. A key component of the policy is the Health Star Rating (HSR), a national front-of-pack labelling system that rates packaged foods from half to five stars. Currently, 83% of Goodman Fielder's intended retail products display the HSR, thereby exceeding the goal to reach 70% by the end of 2025. Overall, 67% of Goodman Fielder New Zealand's retail portfolio has a rating of 3.5 stars or higher.

This year, YKA introduced the Arawana Feng Yi Tang health food brand, featuring functional nutrition products such as diacylglycerol cooking oil and soy milk fortified with phytosterol esters to support weight management and regulate blood lipid levels. Our in-house health officers have evaluated and affirmed the efficacy of these products in reducing the risks of chronic diseases when incorporated into daily diets.

PRODUCT QUALITY AND SAFETY

Wilmar upholds the highest standards of food quality and safety through a comprehensive framework of policies, including our Food Safety Policy, Food Fraud Policy and Food Defence Policy.

To ensure our products meet rigorous food quality and safety standards, the majority of our production facilities are certified by food safety schemes accredited by the Global Food Safety Initiative, including:

• Food Safety System Certification 22000 Scheme

• United Kingdom: British Retail Consortium Global Standard for Food Safety

• United States: Safe Quality Food

RESPONSIBLE MARKETING AND LABELLING

Wilmar adheres to ethical standards and all applicable regulations in product marketing and labelling across our operations. The Group's Code of Conduct specifically prohibits marketing communications directed at children from promoting unhealthy or excessive eating or drinking habits. All marketing claims made by our subsidiaries must be substantiated and deliver on their promises. Products and services must be described truthfully, accurately and transparently. In addition, we design our marketing activities to be culturally, socially and religiously sensitive and respectful to our target audiences.

CONSUMER HEALTH AND WELL-BEING

From vegetable oils, sugar, flour, rice, noodles, specialty fats, snacks, bakery items to dairy products and more, our brands in Asia and Oceania are well-known for their quality and variety of offerings.

We are committed to meeting consumer needs while balancing evolving consumer preferences with nutritional considerations to deliver superior product quality and customer satisfaction.

Our subsidiaries stay attuned to consumer demands and the latest innovations in nutrition and food science to ensure we manufacture nutritious, healthy and affordable products for the diverse populations we serve.

RESPONSIBLE BUSINESS PRACTICES

At Wilmar, we foster a culture of ethical and responsible business practices that underpin our reputation and longterm success. To build trust and maintain stakeholder confidence, all employees are expected to comply with local laws and regulations as well as Wilmar's internal policies.

Business Ethics and Compliance

Wilmar recognises the pivotal role of business ethics in shaping our reputation and achieving enduring success. Our commitment to the highest standards of integrity and regulatory compliance guides decision-making and employee conduct throughout our global operations.

To reinforce this commitment, Wilmar has established comprehensive corporate policies that set clear principles for ethical conduct, ensuring alignment among employees and stakeholders. Directors and employees receive regular training and briefings to promote transparency and effectiveness.

These policies are periodically reviewed for relevance and approved by our Board of Directors or the relevant Board Committees. They are published on the Group's intranet and, where applicable, on our website, making them accessible to employees and the public. The following key policies are available on Wilmar's website (ir-media.wilmar-international. com/corporate-policies):

• Investor Relations Policy

• Group Privacy Policy

• Whistleblowing Policy

• Anti-Fraud Policy

• Code of Conduct

• Code of Ethics

• Board Diversity Policy

• Group Tax Policy

• Anti-Bribery and Corruption Policy

  The Group Privacy Policy outlines how Wilmar collects, uses, shares, and protects personal data. It details the types of information collected, its usage, who it is shared with, and how users can manage their data and rights.

  For details on the Investor Relations Policy, please refer to the Investor Relations section of this Annual Report. Information on the Whistleblowing Policy and Board Diversity Policy is available in the Corporate Governance Report section of this Annual Report. Details on the Anti-Fraud Policy, Code of Conduct, Code of Ethics, Group Tax Policy, and Anti-Bribery and Corruption Policy will be provided in Wilmar's Sustainability Report for FY2025.

  
  
  

  48 WILMAR INTERNATIONAL LIMITED ANNUAL REPORT 2025 49

  BOARD OF DIRECTORS

  PUA SECK GUAN, 62

  Chief Operating Officer Executive and Non-Independent Director

  TEO LA-MEI, 66

  Group Legal Counsel and Company Secretary

  Executive and Non-Independent Director

  Date of first appointment as Director

  1 January 2016

  Date of last re-election as Director

  19 April 2024

  Date of first appointment as Director

  21 February 2019

  Date of last re-election as Director

  19 April 2024

  From left:

  Juan Ricardo Luciano, Gary Thomas McGuigan, Lee Huay Leng, Soh Gim Teik, Kuok Khoon Ean, Teo La-Mei, Lim Siong Guan, Kuok Khoon Hong, Pua Seck Guan, Kuok Khoon Hua, Chong Yoke Sin, Cheung Chi Yan Louis, Jessica Cheam, George Yong-Boon Yeo and Tong Shao Ming.

  KUOK KHOON HONG, 76

  Chairman and Chief Executive Officer Executive and Non-Independent Director

  Length of service as Director

  10 years 2 months

  Board Committee(s) Membership

  • Executive Committee - Member

  • Share Purchase Committee - Member

    Present directorship(s) in other listed company(ies)

  • Yihai Kerry Arawana Holdings Co., Ltd - Director

    Present principal commitment(s)

  • Perennial Holdings Private Limited - Executive Chairman and Chief Executive Officer

  • Wilmar International Limited - Chief Operating Officer

    Other commitment(s)

  • Perennial Group Private Limited - Director

  • Gardens by the Bay - Director

    Length of service as Director

    7 years

    Present directorship(s) in other listed company(ies)

  • Nil

    Present principal commitment(s)

  • Wilmar International Limited - Group Legal Counsel and Company Secretary

    Other commitment(s)

  • Perennial Holdings Private Limited - Director

  • Perennial Group Private Limited - Director

  • Corporate Governance & Regulatory Interest Group of the Singapore International Chamber of Commerce - Member

    Past principal commitment(s) including directorship(s) held over the preceding five years

    Date of first appointment as Director

    24 March 2006

    Date of appointment as Chairman

    14 July 2006

    Date of last re-election as Director

    19 April 2024

    Length of service as Director

    19 years 11 months

    Board Committee(s) Membership

  • Executive Committee - Chairman

  • Share Purchase Committee - Chairman

  • Nominating Committee - Member

    Present directorship(s) in other listed company(ies)

  • Yihai Kerry Arawana Holdings Co., Ltd - Chairman and Director

  • Shree Renuka Sugars Limited - Non-Executive and Non-Independent Director

  • AWL Agri Business Limited - Non-Executive and Non-Independent Director

    Notes:

    Present principal commitment(s)

  • Wilmar International Limited - Chairman and Chief Executive Officer

    Other commitment(s)

  • Perennial Holdings Private Limited - Director

  • Perennial Group Private Limited - Director

    Past principal commitments(s) including directorship(s) held over the preceding five years

  • Nil

    Working and professional experience

  • Extensive experience in the agribusiness industry and has been involved in the grains, edible oils and oilseeds businesses since 1973

    Academic and professional qualification(s)

  • Bachelor of Business Administration, University of Singapore

  • Singapore-China Business Council of Singapore Business Federation - Member

  • Singapore-Guangdong Collaboration Council - Member

  • Singapore-Sichuan Trade and Investment Committee -Member

  • Singapore-Tianjin Economic and Trade Council - Member

  • Singapore-Zhejiang Economic and Trade Council - Member

    Past principal commitment(s) including directorship(s) held over the preceding five years

  • Nil

    Working and professional experience

  • Extensive experience in real estate as well as integrated healthcare and real estate business

    Academic and professional qualification(s)

  • Bachelor of Science in Building (First Class Honours), National University of Singapore

  • Master of Science in Civil Engineering, Massachusetts Institute of Technology, USA

  • Director, Company Secretary and Legal Counsel for the Shangri-La Hotel Limited group of companies

    Working and professional experience

  • Extensive experience in legal and corporate secretarial matters

    Academic and professional qualification(s)

  • Bachelor of Laws (Honours), National University of Singapore

    1 "Principal commitment" has the same meaning as defined in the Code of Corporate Governance 2018.

    2 Board of Directors' information is updated as of 3 March 2026

    
    
    

    50 WILMAR INTERNATIONAL LIMITED ANNUAL REPORT 2025 51

    BOARD OF DIRECTORS

    KUOK KHOON EAN, 70

    Non-Executive and

    Non-Independent Director

    KUOK KHOON HUA, 47

    Non-Executive and

    Non-Independent Director

    GARY THOMAS MCGUIGAN, 54

    Non-Executive and

    Non-Independent Director

    LIM SIONG GUAN, 78

    Non-Executive and

    Lead Independent Director

    Date of first appointment as Director

    2 July 2007

    Date of last re-election as Director

    22 April 2025

    Length of service as Director

    18 years 8 months

    Present directorship(s) in other listed company(ies)

  • Nil

    Present principal commitment(s)

  • Kuok (Singapore) Limited - Chairman

  • Kerry Group Limited - Vice Chairman

  • Kuok Brothers Sdn Berhad - Vice Chairman

  • Kerry Holdings Limited - Director

    Past principal commitment(s) including directorship(s) held over the preceding five years

  • Nil

    Working and professional experience

  • Extensive experience in investment, shipping and real estate businesses

    Academic and professional qualification(s)

  • Bachelor of Economics, Nottingham University, UK

    Date of first appointment as Director

    1 July 2016

    Date of last re-election as Director

    20 April 2023

    Length of service as Director

    9 years 8 months

    Present directorship(s) in other listed company(ies)

  • Kerry Properties Limited - Chairman and Chief Executive Officer

  • KLN Logistics Group Limited - Vice Chairman and Non-Executive Director

  • Sea Limited - Independent Director

    Present principal commitment(s)

  • Kerry Group Limited - Director

  • Kerry Holdings Limited - Chairman

  • Kuok (Singapore) Limited - Director

    Other commitment(s)

  • DBS Bank (Hong Kong) Limited - Independent Non-Executive Director

  • The University of Hong Kong - Council Member

    Past principal commitment(s) including directorship(s) held over the preceding five years

  • Nil

    Working and professional experience

  • Extensive experience in investment, logistics and property businesses

    Academic and professional qualification(s)

  • Bachelor of Economics, Harvard University, USA

    Date of first appointment as Director

    21 August 2024

    Date of last re-election as Director

    22 April 2025

    Length of service as Director

    1 year 6 months

    Present directorship(s) in other listed company(ies)

  • Nil

    Present principal commitment(s)

  • Archer Daniels Midland Company - SVP, President, North America Ag Services & Oilseeds and Global Trade

    Past principal commitment(s) including directorship(s) held over the preceding five years

  • Nil

    Working and professional experience

  • Extensive management experience in agribusiness industry

    Academic and professional qualification(s)

  • Bachelor of Science (Hons) in Banking and International Finance, City University London

    Date of first appointment as Director

    1 January 2018

    Date of appointment as Lead Independent Director

    24 April 2019

    Date of last re-election as Director

    20 April 2023

    Length of service as Director

    8 years 2 months

    Board Committee(s) Membership

  • Risk Management Committee - Chairman

  • Nominating Committee - Chairman

  • Remuneration Committee - Chairman

  • Audit Committee - Member

  • Board Sustainability Committee - Member

    Present directorship(s) in other listed company(ies)

  • Nil

    Present principal commitment(s)

  • Nil

    Past principal commitment(s) including directorship(s) held over the preceding five years

  • Swiss Re Asia Pte. Ltd. - Chairman

  • Lee Kuan Yew School of Public Policy, National University of Singapore - Professor

  • Honour (Singapore) Ltd. - Chairman

    Working and professional experience

  • Extensive experience in investment, public policies and organisational leadership

    Academic and professional qualification(s)

  • Bachelor of Engineering in Mechanical Engineering (First Class Honours), University of Adelaide, Australia

  • Post Graduate Diploma in Business Administration, University of Singapore

    Notes:

    1 "Principal commitment" has the same meaning as defined in the Code of Corporate Governance 2018.

    2 Board of Directors' information is updated as of 3 March 2026

    
    
    

    52 WILMAR INTERNATIONAL LIMITED ANNUAL REPORT 2025 53

    BOARD OF DIRECTORS

    SOH GIM TEIK, 71

    Non-Executive and Independent Director

    DR CHONG YOKE SIN, 69

    Non-Executive and Independent Director

    DR CHEUNG CHI YAN LOUIS, 62

    Non-Executive and Independent Director

    JESSICA CHEAM, 42

    Non-Executive and Independent Director

    Date of first appointment as Director

    1 December 2019

    Date of last re-election as Director

    22 April 2025

    Length of service as Director

    6 years 3 months

    Board Committee(s) Membership

  • Audit Committee - Chairman

  • Risk Management Committee - Member

  • Nominating Committee - Member

  • Remuneration Committee - Member

  • Board Sustainability Committee - Member

    Present directorship(s) in other listed company(ies)

  • NoonTalk Media Limited - Lead Independent Director

    Present principal commitment(s)

  • Finix Corporate Advisory LLP - Partner

  • The Farrer Park Company Pte Ltd - Independent Director

  • Farrer Park Hospital Pte Ltd - Independent Director

  • Singapore Exchange Limited - Disciplinary Committee Member

  • Rafflesians Community Fund Limited - Director

  • Agency for Science, Technology and Research (A*Star) -Independent Director

  • Consortium for Clinical Research and Innovation Singapore Pte Ltd - Independent Director

  • National Healthcare Group Fund - Chairman/ Independent Director

  • The Institute of Singapore Chartered Accountants (ISCA) - Investigation and Disciplinary Panel Member

  • Barker Road Methodist Church - Finance Committee member

  • Old Rafflesians' Association - Governing Council

    Past principal commitment(s) including directorship(s) held over the preceding five years

  • BBR Holdings (S) Ltd - Independent Director

  • Singapore Science Centre - Independent Director

  • EDBI Pte Ltd - Independent Director

  • Advisory Committee on Accounting Standards for Statutory Boards - Member

  • ISCA - Audit and Assurance Committee member

  • SDAX Exchange Pte Ltd - Independent Director

  • Olive Tree Estates Limited - Independent Director

  • MOH Holdings Pte Ltd - Non-Executive Director

    Working and professional experience

  • Extensive experience in corporate advisory

    Academic and professional qualification(s)

  • Bachelor of Accountancy, University of Singapore

    Date of first appointment as Director

    7 May 2021

    Date of last re-election as Director

    22 April 2025

    Length of service as Director

    4 years 9 months

    Board Committee(s) Membership

  • Audit Committee - Member

  • Nominating Committee - Member

  • Remuneration Committee - Member

    Present directorship(s) in other listed company(ies)

  • Great Eastern Holdings Limited - Director

    Present principal commitment(s)

  • Urban Redevelopment Authority of Singapore - Director

  • Mount Alvernia Hospital, Director

  • A*Star - Chairman of the Advisory Portfolio Management Committee

  • Singapore Management University, School of Computer and Information Science Advisory Council - Chairman

  • Singapore Institute of Directors -Council Member

    Past principal commitment(s) including directorship(s) held over the preceding five years

  • Singapore Land Authority - Board member

  • iGlobe Partners - Managing Partner

  • Anacle Systems Ltd - Director

    Working and professional experience

  • Extensive experience in leading transformation of people and systems, artificial intelligence, Internet of Things (IoT), cybersecurity forensics advisory, systems integration and monitoring, and digital platform business

    Academic and professional qualification(s)

  • Doctor of Philosophy (PhD) in Chemistry, National University of Singapore

  • Fellow, Singapore Computer Society

  • Fellow, Health Information Management Systems Society

  • Certified Information Technology Project Manager (Senior)

  • Certified Healthcare Chief Information Officer (CHCIO) (CHIME-US Certified Healthcare Information Management Executives)

    Date of first appointment as Director

    20 April 2023

    Date of last re-election as Director

    19 April 2024

    Length of service as Director

    2 year 10 months

    Present directorship(s) in other listed company(ies)

  • Nil

    Present principal commitment(s)

  • Boyu Capital - Managing Partner

    Past principal commitment(s) including directorship(s) held over the preceding five years

  • Nil

    Working and professional experience

  • Extensive experience in investment, insurance, banking, finance and technology

    Academic and Professional qualification(s)

  • Research fellowship, Doctor of Philosophy (PhD) in Business Information Systems and Bachelor of Arts in Engineering

    - University of Cambridge

    Date of first appointment as Director

    20 April 2023

    Date of last re-election as Director

    19 April 2024

    Length of service as Director

    2 year 10 months

    Board Committee(s) Membership

  • Board Sustainability Committee - Chairman

    Present directorship(s) in other listed company(ies)

  • ComfortDelGro Corporation Limited - Independent Director

    Present principal commitment(s)

  • ComfortDelGro Corporation Limited - Independent Director

  • Eco-Business Pte Ltd - Chief Executive Officer

  • EB Impact Limited - Chair

  • Singapore International Foundation - Member of the Board of Governors

  • Temasek Polytechnic - Member of the Board of Governors

    Past principal commitment(s) including directorship(s) held over the preceding five years

  • Nil

    Working and professional experience

  • Extensive experience in media, corporate governance, sustainable development and environmental, social and governance (ESG) issues

    Academic and Professional qualification(s)

  • Bachelor of Arts in Film and Literature, University of Warwick

  • Master of Arts in Journalism, University of London, Goldsmiths College

  • Executive programme on Data and Business Analytics, Cambridge University, Judge Business School

  • International Directors Programme, INSEAD

  • CFA Institute Certificate in ESG Investing

    Notes:

    1 "Principal commitment" has the same meaning as defined in the Code of Corporate Governance 2018.

    2 Board of Directors' information is updated as of 3 March 2026

    
    
    

    54 WILMAR INTERNATIONAL LIMITED ANNUAL REPORT 2025 55

    BOARD OF DIRECTORS

    GEORGE YONG-BOON YEO, 71

    Non-Executive and Independent Director

    LEE HUAY LENG, 55

    Non-Executive and Independent Director

    JUAN RICARDO LUCIANO, 64

    Alternate Director to Gary Thomas McGuigan

    TONG SHAO MING, 50

    Alternate Director to Kuok Khoon Hua

    Date of first appointment as Director

    19 April 2024*

    Date of last re-election as Director

    22 April 2025

    Length of service as Director

    4 years 11 months*

    Board Committee(s) Membership

  • Risk Management Committee - Member

    Present directorship(s) in other listed company(ies)

  • AIA Group Limited - Independent Director

  • Pinduoduo Inc. - Independent Director

    Present principal commitment(s)

  • Lee Kuan Yew School, Public Policy of National University of Singapore - Visiting Scholar

    Past principal commitment(s) including directorship(s) held over the preceding five years

  • Kuok Group, Senior Adviser

  • Creative Technology Ltd - Independent Director

    Working and professional experience

  • Extensive experience in the public sector and international business affairs

    Academic and professional qualification(s)

  • Bachelor of Arts in Engineering, Cambridge University

  • Master of Business Administration, Harvard University

    Date of first appointment as Director

    22 April 2025

    Date of last re-election as Director

    Not Applicable

    Length of service as Director

    10 months

    Present directorship(s) in other listed company(ies)

  • Nil

    Present principal commitment(s)

  • Editor-in-Chief, Chinese Media Group, SPH Media

    Past principal commitment(s) including directorship(s) held over the preceding five years

  • Head of Chinese Media Group, Singapore Press Holding

    Working and professional experience

  • Extensive experience in media leadership & strategy, digital transformation and China affairs

    Academic and professional qualification(s)

  • Bachelor of Arts in Chinese Studies (Honours), National University of Singapore

  • Master of Arts in Southeast Asian Studies, School of Oriental and African Studies, University of London

    Date of first appointment as Alternate Director

    21 August 2024

    Date of last re-election as Alternate Director

    Same as Principal Director

    Length of service as Alternate Director

    1 year 6 months

    Present directorship(s) in other listed company(ies)

  • Archer Daniels Midland Company - Chair of the Board, President and Chief Executive Officer

  • Eli Lilly and Company - Lead Director and Chairman of Directors and Corporate Governance Committee

    Present principal commitment(s)

  • Intersect IIIinois - Director

  • Economic Club of Chicago and the Commercial Club of Chicago - Member

  • RUSH University System Board - Member

  • Business Roundtable - Member

    Past principal commitment(s) including directorship(s) held over the preceding five years

  • The US-China Business Council - Director

  • Global Advisory Board of Kellogg Business School at Northwestern University - Member

    Working and professional experience

  • Extensive experience in agricultural processors and food ingredients

    Academic and professional qualification(s)

  • Bachelor of Science in Industrial Engineering, Buenos Aires Institute of Technology, Argentina

    Date of first appointment as Alternate Director

    27 October 2022

    Date of last re-election as Alternate Director

    Same as Principal Director

    Length of service as Alternate Director

    3 year 4 months

    Present directorship(s) in other listed company(ies)

  • Yihai Kerry Arawana Holdings Co., Ltd - Director

  • Kerry TJ Logistics Company Ltd - Director

  • Kerry Properties Limited - Director

    Present principal commitment(s)

  • Kerry Holdings Limited - Deputy Chief Financial Officer, Investment Director

    Past principal commitment(s) including directorship(s) held over the preceding five years

  • KLN Logistics Group Limited - Director

    Working and professional experience

  • Extensive experience in investments, capital markets and corporate finance transactions

    Academic and Professional qualification(s)

  • Bachelor's degree in Jurisprudence, Oxford University

Notes:

1. "Principal commitment" has the same meaning as defined in the Code of Corporate Governance 2018.

2. Board of Directors' information is updated as of 3 March 2026

* Mr Yeo was formerly a Non-Executive and Non-Independent Director of Wilmar from 1 November 2014 to 31 December 2017.

56 WILMAR INTERNATIONAL LIMITED ANNUAL REPORT 2025 57

SUPPLEMENTAL INFORMATION

ON DIRECTORS SEEKING RE-ELECTION

The information required under Rule 720(6) and Appendix 7.4.1 of SGX-ST Listing Manual in respect of Directors of Wilmar International Limited ("Wilmar") seeking re-election at the Annual General Meeting on 23 April 2026 is set out below.

Shareholding interest in the listed issuer and its subsidiaries

Information can be found in the "Directors' Statement" section of the Annual Report 2025. Information can be found in the "Directors' Statement" section of the Annual Report 2025.