AEP Plantations (AEP) Trading Update summary

Trading update and audit status

• Audit of 2024 financial statements is ongoing and will not be completed by 30 April 2025 due to additional time required by new auditor Forvis Mazars; no significant audit issues reported so far.

• Shares will be temporarily suspended from 1 May 2025 until audited results and annual report are published.

• Commitment to restoring timely financial reporting in future periods.

Financial and operational performance

• 2024 revenue expected at $372.6 million; profit after tax around $67.6 million, up 20% from 2023, driven by higher CPO prices and lower expenses.

• Earnings per share projected to rise 37% to 171 cents, reflecting full acquisition of Indonesian subsidiaries.

• FFB and CPO production declined by 7% and 12% respectively, due to replanting and adverse weather, especially in H1 2024.

Dividend proposal

• Board proposes a final dividend of 51 cents per share, up from 30 cents in 2023, representing about 30% of indicative retained profits.

• Dividend subject to shareholder approval at AGM expected in June 2025; payment scheduled for 18 July 2025, with ex-dividend date 19 June 2025 and record date 20 June 2025.