AEP Plantations (AEP) Trading update summary

Operational performance

• Own fresh fruit bunch (FFB) production rose 6% to 1,080.6k mt, driven by improved output in Bengkulu and Kalimantan.

• External FFB purchased increased 18% to 1,170.1k mt, aided by new third-party crop intake at HPP Mill and Bengkulu.

• Crude palm oil (CPO) production grew 7% to 425.8k mt, and palm kernel (PK) production rose 13% to 105.9k mt.

• Average CPO price increased 7% to $853/mt, while PK price surged 44% to $731/mt, with strong pricing continuing into January 2026.

Development and projects

• Planted 221 hectares and replanted 2,440 hectares in 2025, progressing toward a five-year 10,000-hectare target.

• Construction of the eighth mill at KAP Estate is on schedule for December 2026, with key works underway and equipment delivery set for June 2026.

• Flooding in North Sumatra in late 2025 had no material impact on overall production or financial performance.

Strategic initiatives and outlook

• Progress continues on the proposed acquisition of Admiral Potential Sdn Bhd for approximately $9 million, pending due diligence.

• Focus remains on sustainable yield improvement through agronomic practices and enhanced monitoring systems.

• Strong pricing environment has supported cash flow and provides a solid base for future growth and shareholder value.