SARAWAK OIL PALMS BERHAD ("SOPB" OR "THE COMPANY") WISHES TO ANNOUNCE THAT IN ACCORDANCE WITH CHAPTER 10.09 OF THE LISTING REQUIREMENTS OF THE BURSA MALAYSIA SECURITIES BERHAD ON RECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE OR TRADING NATURE ("RRPTs"), APPROVAL WILL BE SOUGHT AT THE FORTHCOMING 52ND ANNUAL GENERAL MEETING (“AGM”) OF THE COMPANY SCHEDULED TO BE HELD ON 15 JULY 2020 FOR THE PROPOSED SHAREHOLDERS’ MANDATE FOR SOPB AND ITS SUBSIDIARY COMPANIES (“SOPB GROUP”) TO ENTER INTO RRPTs FOR THE YEAR / PERIOD ENDING 31 DECEMBER 2020 TO 30 JUNE 2021.

AT THE 51ST AGM OF SOPB HELD ON 26 JUNE 2019, SHAREHOLDERS OF THE COMPANY HAD GRANTED A MANDATE FOR THE SOPB GROUP TO ENTER INTO RRPTs, WHICH WILL LAPSE AT THE CONCLUSION OF THE FORTHCOMING 52ND AGM. THE PROPOSED MANDATE WILL TAKE EFFECT FROM THE DATE OF PASSING OF THE RELEVANT RESOLUTION AT THE 52ND AGM TO BE HELD ON 15 JULY 2020 UNTIL THE NEXT AGM IN 2021.