1. INTRODUCTION

The Board of Directors (“Board”) of GPP wishes to announce that Profina Plywood Sdn. Bhd. (a wholly-owned subsidiary of GPP) (“PPSB”) had, on 5 October 2022, received the forestry licence for sawmill (Class A) and forestry licence for plywood mill, which were issued by Jabatan Perhutanan Negeri Johor (“JPNJ”) pursuant to the Wood-Based Industries Enactment 1986 on 15 September 2022, for PPSB’s oil palm trunk plywood manufacturing business at plywood mill located at Lot 8028, Batu 4, Jalan Mengkibol, 86000 Kluang, Johor.

The abovementioned forestry licences were registered under previous owner who operated a sawmill and a plywood mill at the same location. PPSB now becomes the registered holder of these forestry licences.

2. VALIDITY OF FORESTRY LICENCES

The forestry licences are valid for one year and subject to annual renewal.

3. SALIENT TERMS OF THE FORESTRY LICENCES

3.1     PPSB may not transfer the forestry licences;

3.2     PPSB may not rent, lease, lend, pledge, or sell the entire or any parts of the plywood mill, any equipment or any parts of any equipment located at the plywood mill; or

3.3     PPSB may not have any changes in the equity ownership of the plywood mill or any parts of plywood mill;

without written approval from JPNJ.

The forestry licences must be displayed in the premise of the mill.

This announcement is dated 7 October 2022.