Interim Performance Presentation 3Q 2018: nine-month period ended 30 September 2018.

DISCLAIMER

This presentation has been prepared by Golden Agri‐Resources Ltd. ("GAR" or "Company") for informational purposes, and may contain projections and forward looking statements that reflect the Company's current views with respect to future events and financial performance. These views are based on current assumptions which are subject to various risks and which may change over time. No assurance can be given that future events will occur, that projections will be achieved, or that the Company's assumptions are correct. Actual results may differ materially from those projected. A prospective investor must make its own independent decision regarding investment in securities.

Opinions expressed herein reflect the judgement of the Company as of the date of this presentation and may be subject to change without notice if the Company becomes aware of any information, whether specific to the Company, its business, or in general, which may have a material impact on any such opinions.

The information is current only as of its date and shall not, under any circumstances, create any implication that the information contained therein is correct as of any time subsequent to the date thereof or that there has been no change in the financial condition or affairs of GAR since such date. This presentation may be updated from time to time and there is no undertaking by GAR to post any such amendments or supplements on this presentation.

The Company will not be responsible for any consequences resulting from the use of this presentation as well as the reliance upon any opinion or statement contained herein or for any omission.

© Golden Agri‐Resources Ltd. All rights reserved.

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Plantation and palm oil millsPalm and lauric

9M179M182Q183Q18

Oilseeds and

Others

CPO FOB priceUS$536/MT 13%

• • YTD Sep 2018 vs YTD Sep 2017

  Revenue US$5,515 mn 1%

  EBITDA US$370 mn 27%

  Underlying Profit1 US$79 mn 63%

  Palm product output 2.24 mn MT 8%CPO FOB price US$600/MT 13%

Note:

1. Net profit/loss attributable to owners of the Company, excluding net effect of net gain/loss from changes in fair value of biological assets, depreciation of bearer plants and other non‐operating items (foreign exchange loss and deferred tax income or expense).

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