Company Announcements

M.P. EVANS GROUP PLC

("the Group" or "M.P.Evans")

INDONESIAN GOVERNMENT ANNOUNCES REVISIONS TO EXPORT LEVY

M.P.Evans Group PLC, a producer of sustainable Indonesian palm oil, notes the announcement by the Indonesian government regarding changes to its palm-oil export tax bands, which are effective immediately. Previously, export tax became payable in increasing amounts based on US$50 price bands starting at CPO reference prices above US$750 per tonne. The export tax continues to be payable based on US$50 price bands, but this now starts at CPO reference prices above US$680 per tonne. The effect is to increase the export tax by up to US$74 per tonne depending on the CPO reference price. The CPO export levy, which has been temporarily cancelled until the start of September, remains unchanged from that announced by the Company on 19 July 2022, at which point it had decreased by up to US$90 per tonne from the previous arrangement, depending on the CPO reference price. Further details are shown in the tables in the annex to this announcement.

Management will continue to monitor the situation closely as the new arrangements come into force.

11 August 2022

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ANNEX

Table 1 - updated structure from 9 August 2022 to 31 August 2022

Table 2 - updated structure from 1 September 2022