Reference is made to FGV Holdings Berhad’s ("FGV" or the "Company") announcement made on 15 August 2021 pertaining to the MOC between FGV Integrated Farming Holdings Sdn Bhd (FGVIF), a wholly-owned subsidiary of FGV, FELCRA Berhad (FELCRA) and Baladna Food Industries Co. W.L.L (BALADNA) (collectively, referred to as “Parties”) to carry out a comprehensive feasibility and technical study on an opportunity to potentially co-invest in an integrated dairy farm business in Chuping, Perlis (the “Project”).

The Board of Directors (Board) of FGV wishes to announce that FELCRA’s Board has decided to withdraw FELCRA’s participation in the Project via its letter to FGV received on 27 April 2022. FGV and BALADNA are continuing with the comprehensive feasibility and technical study of the project. The Company shall make further announcement as and when there is further material development in relation to the MOC.

This announcement is dated 28 April 2022.