FGV Berhad : 13th Annual General Meeting

Propelling

Ahead.

Realising

Opportunities.

FGV HOLDINGS BERHAD

13th Annual General Meeting

23 June 2021

CONTENTS

2020 Key Highlights

COVID-19: Response &

Actions Taken

Business Plan and

Prospects

In 2020, FGV made a strategic decision

to embark on a journey that would elevate FGV's stature to become a World's Leading

Integrated and Sustainable Agribusiness

2020: Propelling Ahead, Realising Opportunities

• 2020 was an eventful year due to the COVID-19pandemic, which caused a prolonged MCO in Malaysia. This has affected both global and domestic demand for palm oil.
• Despite these challenges, the industry registered an average CPO price of RM2,765 in 2020, i.e. 31% higher than 2019 as a result of the drop in FFB production mainly due to labour shortages which is further aggravated by disruptions in upstream operations due to the MCO.
• FGV recorded a positive PBZT of RM346 mn in FY2020 compared to an LBZT of RM339 mn in FY2019. As such, the Board declared a final dividend of 3 sen per share.
• Also, FGV completed its second year transformation plan known as BP21 that began in 2019 to realise its long-term objective of becoming a World's Leading Integrated and Sustainable Agribusiness.
• In addition to improving operational and financial performance, the Group developed an enhanced Strategic Blueprint to give more emphasis on Consumer Products to realise higher returns, and made progress in its Integrated Farming business.

2020: Propelling Ahead, Realising Opportunities (cont'd)

• Since the COVID-19outbreak, FGV has responded with a comprehensive action plan that is continuously being enhanced and implemented throughout all of its business operations.
• Despite the COVID-19 pandemic, FGV continues to implement its sustainability initiatives which are imperative for FGV's long term success.
• In FY2020, FELDA launched a takeover offer at RM1.30 per share and currently holds an 81% equity interest in FGV together with Persons Acting in Concert (PACs). FGV will continue to work synergistically with FELDA in the best interest of all stakeholders, including FELDA settlers.
• 2021 will be another challenging year due to constraints in labour supply and highly volatile CPO prices for our plantation business. Our sugar business will continue to enhance operational and financial performance.
• We remain on course with our strategy to reposition FGV as a leading agribusiness player with an enhanced focus on growing higher value-addbusinesses under Consumer Products.