The Board of Directors of Golden Agri-Resources Ltd. announced that, based on a preliminary review of the financial information currently available to the Company and its subsidiaries, the Group is expected to record a loss from changes in fair value of its financial assets in the Profit and Loss Statement of approximately USD 230 million for the fourth quarter ending 31 December 2022 as a result of changes in the fair value of its investments in 4 Quarter 2022. The resulting fair value of this financial asset is still well above its investment cost. For the 4 Quarter 2022 and for the full year ending 31 December 2022, the Group is still expected to be profitable.

Notwithstanding this fair value loss in Fourth Quarter 2022, the Group's business model remains intact and resilient with record net profit achieved for the nine months ended 30 September 2022 of USD 675 million.