Indofood Agri Resources Ltd. - Sustainability Report 2023

CONTENTS 01 CEO Statement 02 2023 at a Glance 03 Our Approach to Sustainability 12 Business Overview 15 Protecting Our Environment 34 Responsible Sourcing 41 Our People 48 Community Relations 54 Product Integrity 59 Appendix Indofood Agri Resources Ltd | Sustainability Report 2023 ii

ABOUT INDOAGRI, OUR VISION, MISSION AND VALUES OUR POLICY Indofood Agri Resources Ltd (IndoAgri) is listed on the Singapore Exchange (SGX) and headquartered in Singapore. IndoAgri and its subsidiaries operate plantation and processing facilities to produce palm oil, rubber, sugar, cocoa, and tea. The group also performs research & development (R&D), seed breeding, manufacturing and marketing of award-winning edible oil brands. Our Vision is to become a leading integrated agribusiness and a world-class agricultural research and seed breeding company. Our Mission drives us: to be a high-yield, low-cost producer that continuously improves its people, processes and technology to deliver at the highest standards of quality. Our Values guide our work: with discipline as the basis of our way of life, we conduct our business with integrity, we treat our stakeholders with respect, and together we unite to strive for excellence and continuous innovation. Our Sustainable Agriculture Policy (Policy) is approved and signed at Board level and guides all our sustainability programmes. It is available on our website and applies to all our operations, including our plasma smallholders and other third-party suppliers from whom we purchase for our factories. Key policy commitments to deliver sustainably produced products are: No deforestation; conservation of High Conservation Value (HCV) and High Carbon Stock (HCS) areas No planting on peat regardless of depth No burning Respect for Labour and Human Rights, including Freedom of Association and non-discrimination Free Prior and Informed Consent (FPIC) Read more online (GRI 2-1) (GRI 2-1) Indofood Agri Resources Ltd | Sustainability Report 2023 iii

OUR SUSTAINABILITY REPORT IndoAgri is proud to present its 12th annual Sustainability Report for the financial year 2023. This report has been prepared in accordance with the Global Reporting Initiative (GRI) 2021 Standards and complies with the rules 711A and 711B of the Singapore Exchange Securities Trading (SGX-ST) Listing Manual and is in line with the SGX-ST Listing Rules Practice Note 7.6 Sustainability Reporting Guide. We have chosen the GRI reporting standards and principles to ensure stakeholder inclusiveness, accuracy, clarity, reliability, and comparability of the information presented in this report. We are also disclosing in line with the Task Force on Climate-related Financial Disclosures (TCFD) framework. Please see page 27 for more details. This report communicates our performance and progress against our Policy commitments and targets relating to our material topics for the financial year 2023. This report should be read alongside our Annual Report and website. Relevant links are provided in the report. IndoAgri has obtained third-party assurance for this report. The scope of the work performed is indicated in the external assurance report on the next page. We welcome your feedback or questions at The GRI Content Index and previous reports are available online. Reporting Scope The scope of this report covers our most dominant crop, oil palm, which occupies 83% of our total planted area, and our rubber operations, which occupy 5% of our total planted area. There are no significant changes to the size, structure or ownership of our company compared to the previous report. Our financial, employee, community and health & safety data constitute the whole Group (all operations in the scope of this report). Our responsible sourcing and product data include only our downstream refinery operations. Our environmental data includes the following sites in our palm oil and rubber operations: Monitoring fauna in one of our plantations in Pengadan Estate, Kutai Timur, East Kalimantan 63 out of 83 sites ISPO-certified/audited Oil palm plantations 27 out of 27 Palm oil mills, all of which are either ISPO or PROPER certified/ audited 5 out of 5 PROPER-certified/ audited refineries (GRI 2-3, 2-6) 3 out of 3 sites Rubber factories 7 out of 7 sites Rubber plantations Indofood Agri Resources Ltd | Sustainability Report 2023 iv

EXTERNAL ASSURANCE REPORT (GRI 2-5) PT. Moores Rowland Indonesia Jl. Sisingamangaraja No. 26 – Jakarta Selatan 12110 - Indonesia Tel: +62 21 720 2605 - Fax: +62 21 720 2606 - Independent Assurance Statement Report No. 0424/BD/0026/JK To the Management of Indofood Agri Resources Ltd., We were engaged by Indofood Agri Resources Ltd. (‘IndoAgri’) to provide assurance in respect to its Sustainability Report 2023 (‘the Report’). The assurance engagement was conducted by a multidisciplinary team with relevant experience in sustainability reporting. Independence We carried out all our assurance undertakings with independence and autonomy having not been involved in the preparation of any key part of the Report, nor did we provide any services to IndoAgri during 2023 that could conflict with the independence of the assurance engagement. Assurance Standards Our work was carried out in accordance with ISAE3000 ‘Assurance Engagements other than Audits or Reviews of Historical Financial Information’ issued by the International Auditing and Assurance Standards Board. This standard requires that we comply with ethical requirements and plan and perform the assurance engagement to obtain limited assurance. Level of Assurance By designing our evidence-gathering procedures to obtain a limited level of assurance based on ISAE3000, readers of the report can be confident that all risks or errors have been reduced to a very low level, although not necessarily to zero. Scope of Assurance The scope of our work was restricted to the following selected information: • Product Safety, Quality, and Halal • Climate Change and GHG Emissions • Energy Management • Water Management • Employee Health & Safety and Well-being Responsibility IndoAgri is responsible for the preparation of the Report and all information and claims therein, which include established sustainability management targets, performance management, data collection, etc. In performing this engagement our responsibility to the management of IndoAgri was solely for the purpose of verifying the statements it has made in relation to its sustainability performance, specifically as described in the selected information, and expressing our opinion on the conclusions reached. Methodology In order to assess the veracity of certain assertions and specified data sets included within the report, as well as the systems and processes used to manage and report them, the following methods were employed during the engagement process: • Review the report, internal policies, documentation, management and information systems PT. Moores Rowland Indonesia Jl. Sisingamangaraja No. 26 – Jakarta Selatan 12110 - Indonesia Tel: +62 21 720 2605 - Fax: +62 21 720 2606 - • Interview relevant staff involved in sustainability-related management and reporting • Follow data trails to the initial aggregated source, in order to check samples of data to a greater depth. Limitations Our scope of work was limited to a review of the accuracy and reliability of selected sustainability performance-related information. It was not designed to detect all weaknesses in the internal controls over the preparation and presentation of the Report, as the engagement was not performed continuously throughout the preparation period, and the procedures performed were undertaken on a test basis. Conclusions Based on the procedures performed and the evidence obtained, nothing has come to our attention that causes us to believe that the Report has not been properly prepared and presented, in all material respects. All key assurance findings are included herein, while detailed observations and follow-up recommendations have been submitted to IndoAgri management in a separate report. Jakarta, April 5, 2024 James Kallman Chief Executive Officer Moores Rowland is an international organization specializing in auditing, accounting and outsourcing, tax, legal and advisory, business and human rights services. Moores Rowland is a member of Praxity AISBL, the world's largest Alliance of independent and unaffiliated audit and consultancy companies. With more than 65,000 professionals operating in 120 countries across the globe, each sharing the same values and sense of responsibility, Praxity is served by Moores Rowland in Indonesia, one of the leading sustainability assurance providers. Indofood Agri Resources Ltd | Sustainability Report 2023 v

CEO STATEMENT Dear Stakeholders, In an environment of inflationary pressures and continuing global tensions, IndoAgri has remained committed to its sustainability goals. Furthermore, in a year when the top three long-term risks identified by the World Economic Forum have all related to climate change, we have dedicated additional resources to comprehensively understand the risks and opportunities such changes may have on our business. The nature of our agribusiness operations means we are particularly exposed to the effects of a heating climate, and while we have included related risks in our enterprise risk management (ERM) processes for many years, in 2023, we incorporated additional climate-related physical and transitions risks into our detailed ERM framework. Using climate forecasts up to 2051 and other sources of data, we assessed key physical risks relating to flooding, water deficit, and fire, and took additional steps to more precisely quantify potential financial impacts to our business, using the results to ultimately inform our business strategy. Our inflexible commitment to No Deforestation, No Peat, No Exploitation remains, and continues to guide our judgement and activities. We prioritise responsible production of palm oil and edible oils, seeking a sustainable balance between economic benefits, environmental protection, and social well-being for all stakeholders. Minimising greenhouse gas emissions is important to us and our position as a vertically integrated agribusiness allows us to optimise resource use from plantation to product, reducing our overall footprint. 99% of the energy consumed at our palm oil mills comes from renewable sources such as palm shell and fibre, and we are extending the use of renewables across our operations. Already, two rubber factories, two sugar factories, one tea factory, and one cocoa factory benefit from renewable energy generated from palm shells and sugarcane bagasse. We are committed to further expanding these sustainable practices across our operations. In September, we watched the launch of Indonesia’s Carbon Trade Exchange (IDX Carbon) with interest. While we are currently concentrating on reducing our own carbon emissions, we may contemplate the use of highquality offsets in the future. We are on track to achieve our goals of ISPO certification for all nucleus estates and mills by the end of 2024. Currently, 89% of our estates are ISPO certified, along with 21 of 27 mills and 85% of nucleus CPO production. With regards our efforts to ensure transparency and traceability across our supply chain, all fresh fruit bunches (FFB) and palm kernels processed in our mills are traceable to their source estate, and 100% of processed CPO can be traced to the respective mills. Ensuring high product quality and safety standards is critical to our business, and our efforts are validated by certifications to local and international food safety standards, including both the Indonesia National Standard (SNI) and ISO 9001 for our refineries. In November 2023, we completed the process of obtaining additional Halal certifications for all our palm oil products. Beyond our core business, we are committed to supporting the communities where we operate. Our Posyandu healthcare facilities provide vital services such as educational programs for expectant mothers and medical screenings for children and are accessible to all community members. Furthermore, our Rumpin educational centres empowered over 10,000 individuals in 2023 with tutoring and training opportunities. Sadly we experienced two fatalities in 2023: one at our sugar plantations during repair work and another at our oil palm plantations. We have extended our deepest condolences and have worked to support the employees’ families. We have reviewed the circumstances and have taken remedial action to prevent similar incidents from happening again. The safety of our employees is our top priority, and we reiterate our unwavering commitment to creating a safe and secure work environment for all. I recognise and appreciate the support and engagement of all IndoAgri employees in our ongoing pursuit of our sustainability goals. In 2023, the combined resilience, determination, and innovative spirit of our staff led to tangible progress towards our objectives. I look forward to continued collaborative efforts yielding benefits for IndoAgri, our stakeholders, and the communities and environments with which we interact. Mark Julian Wakeford Chief Executive Officer and Executive Director Our 12th annual sustainability report on our Environmental, Social and Governance (ESG) performance is guided by a formal materiality process and has been approved by the IndoAgri Board. (GRI 2-22) Indofood Agri Resources Ltd | Sustainability Report 2023 01 CEO Statement At a Glance Our Approach Our Business Environment Sourcing People Community Product Appendix

2023 AT A GLANCE BUSINESS AND PEOPLE ENVIRONMENT COMMUNITY SOURCING AND PRODUCT Vertically integrated agribusiness hectares of nucleus planted area under oil palm other crops mills refineries rubber processing plants sugar factories 293,429 83% 17% 27 5 5 2 Labour conditions and safety elimination of Paraquat (since Mar 2018) SMK3 management system sites sites with SMK3 gold rating 100% 100% 60 Workforce representation of our permanent operational employees are registered with a union covered by Company Regulations 68% 32% Child labour registered worker <18 years old No Zero 24,936 100% Preventing deforestation clearance of primary forest, degradation of HCV areas, new planting on peat regardless of depth, or burning hectares of HCV areas identified of sites have HCV Management and Rehabilitation plans 4% 24% 2% 27% 99% 100% Energy and water consumption reduction in energy intensity in mills (2020 baseline) increase of energy intensity in refineries (2020 baseline) reduction of water intensity in mills (2020 baseline) increase of water intensity in refineries (2020 baseline) of fuel used in mills from renewable sources of milling waste reused by estates and mills 1% Climate change & GHG emissions reduction in GHG emissions from estate and palm oil mill operations Health facilities clinics Posyandu doctors midwives/nurses ambulances 189 168 60 160 34 Education facilities day care centres day care centre visitors schools teachers students Rumah Pintar Rumah Pintar vistors 124 1,482 150 733 13,377 15 14,307 Quality refineries completed annual audits on quality assurance 100% ISPO-certification of all estates’ hectarage ISPO-certified of nucleus CPO production ISPO-certified 89% 85% Supply chain traceability and transparency of FFB processed in mills traceable to estates of CPO processed in refineries traceable to mills of PK processed in kernel crushers traceable to estates 100% 100% 100% Food Safety/Quality Management System certified with ISO 9001/ FSSC 22000 of non-raw material suppliers (packaging and ingredients) – completed food safety audit of products and refineries are Halal-certified 100% 100% 100% Indofood Agri Resources Ltd | Sustainability Report 2023 02 At a Glance Our Approach Our Business Environment Sourcing People Community Product CEO Statement Appendix

OUR APPROACH TO SUSTAINABILITY 04 Governance and Management 04 Sustainability Governance Board Statement Whistleblowing Policy and Grievance Mechanism Risk Management, Business Continuity and Supply Chain Resilience 06 Material Topics and Management 09 Our Approach on Key Sustainability Focus Areas Environmental Protection Responsible Sourcing People Community Relations Product Integrity An employee recording oil palm seedlings at the SAIN nursery, Pekanbaru, Riau Indofood Agri Resources Ltd | Sustainability Report 2023 03 Our Approach At a Glance Our Business Environment Sourcing People Community Product CEO Statement Appendix

GOVERNANCE AND MANAGEMENT (GRI 2-3, 2-6) We employ a comprehensive framework of policies, targets, certifications, standards, and programmes to shape our sustainability approach and effectively address the risks and opportunities associated with our material topics. Adhering to ISPO certification requirements for oil palm, and the specifications outlined in the Indonesian Government’s PROPER environmental standard, contributes to our ability to uphold our pledge of good governance. This includes our NDPE commitments of no deforestation, no planting on peatland regardless of depth, no exploitation, and also includes avoidance of burning practices while supporting smallholders, and safeguarding land rights and human rights. We ensure that our partners align with our standards and understand the significance of involving both internal and external stakeholders in implementing our plans. The data pertaining to our sustainability efforts is recorded in an SAP enterprise resource planning system, enabling us to monitor our advancement against set targets. Our management approach undergoes scrutiny through a combination of internal and external audits, analysis of performance trends, and the review of feedback from stakeholders. Our routine internal audits, monitoring processes, and assessments adhere to various auditing frameworks and standards, including ISPO, ISO 14001 Environmental Management System, and the ISO 9001 Quality Management System. Our audits comprehensively cover all our operations, including our environmental controls, and by adhering to these standards we also meet relevant Government environmental regulations. SUSTAINABILITY GOVERNANCE (GRI 2-9, 2-12, 2-14) Material topics Goal/target Updates for 2023 Responsible Business Conduct (RBC) Zero cases of bribery and corruption Zero confirmed incidents of bribery and corruption in our operations in 2023 SUSTAINABILITY MANAGEMENT Board Statement The Board assumes overall responsibility for the governance of sustainability at IndoAgri, including the assessment and management of climate-related risks. It incorporates sustainability and climate considerations into the formulation of our business strategy and supervises the management and monitoring of our ESG impacts and material topics, including the annual validation and approval of these material topics. The Board receives support in monitoring and managing sustainability issues from the management level Sustainability Think Tank (STT), led by our CEO. During quarterly Board meetings, the STT provides reports on sustainability performance, updates on recent sustainability developments, and communicates decisions made in response to these developments. At these meetings, the STT also provides updates on climate-related risks and opportunities, including progress against goals and targets for addressing climate-related issues. The Board considers the information presented at these meetings when making strategic choices or other significant decisions. The validation and approval of material topics occurs during a Board meeting where the STT presents reporting recommendations for consideration. The Board is tasked with reviewing and approving the annual sustainability report before its publication. Commitment Action Assess to Improve Reporting • Indicators • Targets • R&D • Management systems • Certifications • Mission • Policies • Annual report • Sustainability report • Evaluation through audit • Materiality review • Stakeholder engagement • Internal collaboration • Training • Code of Conduct • Values • Website Planning • Government policy • Corporate business systems • Sustainability programmes Indofood Agri Resources Ltd | Sustainability Report 2023 04 Our Approach At a Glance Our Business Environment Sourcing People Community Product CEO Statement Appendix

on our whistleblowing policy can be found in our Annual Report. In order to ensure employees and community members have access to the grievance process, we have implemented both internal and external mechanisms. The procedure for internal grievances is routinely communicated to our employees via email and during morning briefings. The external complaints procedure is shared with village heads and communities in the areas where we operate. Our internal audit teams periodically assess the input and output of our grievance mechanisms to ensure their effectiveness. Our Board is kept up to date of all grievances received by the respective company representatives during the quarterly Board meetings. Details of our programmes, certifications, management systems, R&D innovation, sustainability governance structure, and stakeholder engagement can be found online We are dedicated to avoiding adverse effects on the environment, the economy, and the communities in which we operate, including any potential impacts on human rights. The precautionary principle guides our approach to managing material ESG topics. Our Board remains informed about our sustainability performance through updates provided by our STT. These updates include information relating to climaterelated issues. Chaired by our CEO, the STT consists of Executive Directors, Chief Operating Officers, the ERM unit, the R&D team, and sustainability representatives from each business unit. Additionally, our Audit and Risk Management Committee (AC & RMC) receives quarterly updates on material sustainability risks and associated concerns. Both the ERM and AC & RMC assist the Board in overseeing and reviewing emerging and priority group risks, including climate-related risks, risk management, and internal controls. To encourage sustainable practices, executives’ compensation is linked to the achievement of specific sustainability targets and performance indicators that are relevant to their areas of responsibility. The STT is responsible for executing the strategy in relation to climate change matters, in accordance with their delegated authority, as well as being accountable for a range of metrics, including climate-related performance metrics. The STT also assists the Board with overseeing climate-related performance including risk identification, monitoring and management, implementation of the Group’s strategy, policies, targets and goals, and process in relation to climate-related matters, health and safety, and community matters. The STT reviews relevant frameworks for identification, management, and reporting of climate risks, and recommends climate-related key performance metrics for performance evaluation of the CEO and other Directors. Whistleblowing Policy and Grievance Mechanism (GRI 2-16, 2-25, 2-26, 3-3, 205-1, 205-2) We are dedicated to upholding ethical conduct and maintain a strict stance against any type of corruption. These expectations also extend to our suppliers. All new employees undergo induction training relating to our Code of Conduct, which explicitly prohibits bribery, gratification, and corruption of any form. We also ensure that all our employees remain familiar with our anti-corruption policy through annual anti-corruption training held on our online platform. In addition, our whistleblowing policy empowers employees to report concerns without the fear of reprisal by ensuring confidentiality for those who report. The whistleblowing procedures we have implemented are available in Indonesia’s national language. In 2023, we received twelve whistleblowing reports. Three of these reports were fully investigated, with one case related to misconduct and the other two reports were closed as unproven cases. The other nine reports are still under investigation. Additional details Signboard prohibiting extortion at Belani Elok POM, Musi Rawas Regency, South Sumatra Indofood Agri Resources Ltd | Sustainability Report 2023 05 Our Approach At a Glance Our Business Environment Sourcing People Community Product CEO Statement Appendix

GRIEVANCE MECHANISM Risk Management, Business Continuity and Supply Chain Resilience We work closely with our suppliers to proactively anticipate and plan for potential supply disruptions. Monitoring government regulations and other restrictions is integral to minimising any interruptions in the delivery of our products to customers. Furthermore, we maintain ample stock of our products on e-commerce platforms, ensuring their continual availability. The ERM team collaborates across departments to mitigate the impact of a spectrum of risks. The ERM team is responsible for maintaining the ERM framework and system, which, along with robust corporate governance practices and welldefined internal controls, serve as additional layers of defense against overarching risks and uncertainties. The ERM team collaborates with risk owners, managers, and the internal audit department to conduct quarterly risk assessments, evaluating the overall effectiveness of risk control measures. These risk assessments evaluate corruption risk at all our operations. Management has identified corruption as one of the risks facing our business. Consequently, the company has implemented various mitigation controls to manage this risk. We have communicated the Code of Conduct which comprises two policies on Company Business Ethics and Working Ethics of Employees to all employees. Any violation shall be considered a breach of employment contract which may result in disciplinary action. If staff have witnessed or suspect bribery, our policies indicate that it should be reported via the company’s established whistleblowing channels. We also conduct due diligence on all third-parties vendor and suppliers. The AC & RMC convenes quarterly meetings with the ERM team, providing quarterly reports to the Board. These reports encompass findings on significant impacts and recommendations for risk mitigation measures. We continue to update our business continuity scenarios to address changing global events and concerns, such as an increased focus on climate-related risks, and inclusion of more comprehensive scenarios for possible future pandemics. 1. Verification and follow up by management 2. Mediation and resolution of complaints Submission of Complaints Reception of Complaints Handling of Complaints Company Representatives (Unit Manager, Head Administration, Head Assistant) For Gender related complaints Gender Committee Complaints from Internal Employees related to Employment Matters Complaints related to Gender: Discrimination, sexual harassment, violation of women rights Submission of Written Complaints + Supporting documents/ proof (if any) to: Complaints from Employees Complaints related to Operational Matters Price determination, land compensation, etc Complaints related to Social and Environmental Matters Complaints from External Parties Community, NGOs, etc Indofood Agri Resources Ltd | Sustainability Report 2023 06 Our Approach At a Glance Our Business Environment Sourcing People Community Product CEO Statement Appendix

MATERIAL TOPICS AND MANAGEMENT (GRI 3-1, 3-2) Our Sustainability Think Tank (STT) oversees the monitoring of our material topics, and our Board conducts an annual review of these key issues. This process guarantees that the topics stay pertinent and are in harmony with both business and stakeholder expectations. To determine our material topics we undertook a thorough three-stage review in collaboration with an independent consultant: IDENTIFICATION OF MATERIAL TOPICS We conducted benchmarking against peers and industry-specific ESG topics using desktop research, comparing the results with previously identified material topics. This process allowed us to pinpoint potential emerging topics while taking into account our sustainability context and referencing ESG ratings such as SPOTT, Sustainalytics, and MSCI. STAKEHOLDER ENGAGEMENT AND REVIEW A stakeholder engagement exercise was performed during initial identification of our material topics. ‘Pandemic Resilience’ was removed from our FY2023 Sustainability Report, leaving a total of 14 material topics. These topics were reviewed and validated by the STT. VALIDATION After a presentation by the STT at a Board meeting, the Board validated the final list of 14 material topics. 3. 1. 2. Smallholders meeting in Musi Rawas, South Sumatra Indofood Agri Resources Ltd | Sustainability Report 2023 07 Our Approach At a Glance Our Business Environment Sourcing People Community Product CEO Statement Appendix

All our material topics are managed under a set of six Sustainability Programmes, which conduct activities in compliance with our Policy. Through our Programmes, we contribute towards 16 UN Sustainable Development Goals (SDGs). Sustainability Programmes Corresponding SDGs Material topics governed by or indirectly influenced by the programme GROWING RESPONSIBLY Sets the policy framework for high standards of corporate governance and professional integrity. Responsible Business Conduct (RBC) Product Quality and Safety Climate Change and GHG Emissions Water, Waste and Effluents Use of Fertilisers, Pesticides and Chemicals SUSTAINABLE AGRICULTURE AND PRODUCTS Drives the adoption of sustainable practices in crop cultivation and the operation of refineries and mills. Protection of Forests, Peatland and Biodiversity Fire Control and Haze Prevention Climate Change and GHG Emissions Water, Waste and Effluents Use of Fertilisers, Pesticides and Chemicals Occupational Health and Safety (OHS) Yield Resilience and Innovation SAFE AND TRACEABLE PRODUCTS Aims to ensure that all our CPO-derived products are traceable, safe, and beneficial for human consumption. Supply Chain Traceability and Transparency Sustainability Certification Product Quality and Safety Yield Resilience and Innovation SMALLHOLDERS Covers our efforts with the plasma and ex-plasma farmers, and supports the Indonesian government’s Nucleus-Plasma scheme through the development of inclusive supply chains. Smallholder Engagement and Livelihoods Community Rights and Relations Water, Waste and Effluents Use of Fertilisers, Pesticides and Chemicals Yield Resilience and Innovation WORK AND ESTATE LIVING Covers aspects relating to safety, health and well-being of our workers and their families, and to human rights. Human, Child and Labour Rights Community Rights and Relations Occupational Health and Safety (OHS) Yield Resilience and Innovation Protection of Forests, Peatland and Biodiversity Fire Control and Haze Prevention Climate Change and GHG Emissions Water, Waste and Effluents Use of Fertilisers, Pesticides and Chemicals SOLIDARITY Seeks to improve the quality of life in the estates through capacity building, education and financial support. Smallholder Engagement and Livelihoods Protection of Forests, Peatland and Biodiversity Fire Control and Haze Prevention Climate Change and GHG Emissions Water, Waste and Effluents Use of Fertilisers, Pesticides and Chemicals Community Rights and Relations Occupational Health and Safety (OHS) Yield Resilience and Innovation Human, Child and Labour Rights Details on our Programmes can be found online Indofood Agri Resources Ltd | Sustainability Report 2023 08 Our Approach At a Glance Our Business Environment Sourcing People Community Product CEO Statement Appendix

OUR APPROACH TO KEY SUSTAINABILITY FOCUS AREAS Environmental Protection (GRI 3-3) Our commitment to environmental conservation is outlined in our Sustainable Agriculture Policy, which is approved by the Board. The policy includes documentation of our goal to certify all refineries and factories to ISO 14001. Recognising our responsibility towards minimising adverse impacts on the environment, we strive to act prudently in managing our resource consumption. In our efforts to safeguard forests, peatland, and biodiversity, we consistently assess environmental risks and actively preserve areas designated as High Conservation Value (HCV) and High Carbon Stock (HCS). We are committed to providing updates, through our annual sustainability reports, on how we are managing our impact upon the environment. On a monthly basis we also submit an online report relating to our environmental impacts to the Ministry of Environment (KLHK). Our commitment to report regularly on our environmental impacts is documented in our SAP. The detrimental effects of forest fires and haze on local and global ecosystems and communities are a focal point. We adopt a decisive approach by closely monitoring hotspots and engage stakeholders in fire prevention initiatives. Our approach to resource consumption and waste disposal is responsible, adhering to Indonesian government laws and regulations governing water-related activities. Additionally, we repurpose 100% of our milling waste, using it as organic fertiliser and as an energy source for our boilers. We continuously explore innovative ways to replace synthetic chemicals with natural, environmentally friendly alternatives, aiming to reduce the use of fertilisers, pesticides, and other chemicals in cultivating oil palm sustainably. Environmental protection is bolstered through cooperation and collaboration across the value chain. There is an expectation that all of our suppliers adhere to our sustainability standards as outlined in our Sustainable Agriculture Policy, with this being a legal requirement for all of our larger suppliers and all of our commodity suppliers, including smallholders. Our ERM framework and whistle-blowing mechanisms play a crucial role in ensuring compliance with relevant environmental regulations and mitigating associated risks. Acknowledging the climate crisis as both a risk and an opportunity, we understand its impact on the ecosystems of our plantations, the communities in which we operate, and the stakeholders throughout our agribusiness value chain. To address risks relating to climate change such as water scarcity and unpredictable weather patterns, we engage in both mitigation and adaptation actions. Our efforts include an increase in the use of renewable energy, enhancements in energy efficiency, and the reduction of greenhouse gas (GHG) emissions. Additionally, we invest in R&D to produce seeds more resistant to extreme weather conditions. Our analysis of our exposure to climate risk aligns with the framework established by the TCFD, with further details provided in the Climate Change and GHG Emissions section on page 22. Stork-billed Kingfisher (Pelargopsis capensis), one of the bird species found around our plantation in East Kalimantan Indofood Agri Resources Ltd | Sustainability Report 2023 09 Our Approach At a Glance Our Business Environment Sourcing People Community Product CEO Statement Appendix

FFB sorting process in Begerpang POM, Deli Serdang, North Sumatra Responsible Sourcing (GRI 3-3) Our customers expect our supply chains to be transparent and for us to engage in responsible sourcing practices. The trust our customers place in our products and in knowing the origin of raw materials is integral to our commercial success. We actively promote best practice among our suppliers, urging them to maintain transparency throughout their supply chains and to operate responsibly. Regular assessments and audits of our suppliers are conducted to ensure compliance with standards. Additionally, we engage in collaborative efforts with smallholders, assisting them in building capacity and enhancing the quantity and quality of their yields. To establish the traceability of each tonne of palm oil, we record the following: • Name, parent company, address • GeoCoordinates of plantation1 and mill • Nucleus or plasma KUD/group farmers profile and data • Refinery dispatch number • Certification status Within the agribusiness sector, adherence to third-party sustainability certifications is crucial for implementing best practices and providing assurance to our stakeholders. The ISPO certification, established and mandated by the Indonesian Government, is an essential element in fulfilling our policy and commitments. As a demonstration of our dedication to responsible sourcing, we aim to achieve 100% ISPO certification for all our mills and nucleus estates by the end of 2024. Smallholders are pivotal contributors to the palm oil industry, constituting over 40% of all oil palm cultivation in Indonesia. Recognising the significant role played by this group, we actively support and engage with our smallholders through diverse capacity-building and training programmes. Additionally, we help the smallholders with whom we collaborate in their efforts to achieve ISPO certification. In order to alleviate the need to convert new land and sustain ongoing commercial success, our R&D efforts are concentrated on refining agronomy techniques and elevating seed yield and quality. The outcomes of these initiatives enhance the resilience of our crops to withstand the impacts of a warming climate. People (GRI 3-3) The holistic welfare of our employees is integral to our achievements. Our commitment to uphold and safeguard the rights of our workers, in compliance with Indonesian law, the UN Universal Declaration on Human Rights, and the codes of practice endorsed by the International Labour Organization (ILO) as ratified by the Republic of Indonesia2, is outlined in our Sustainable Agriculture Policy and Labour Policy. We endeavour to offer our workers stable incomes, secure working environments, and enhanced job prospects. Stringent measures are implemented across all our sites to prevent forced labor or child labor. All IndoAgri employees receive salaries exceeding the legal minimum wage mandated in their respective regions. This considers sector variations, the cost of living in each province, and any collective labor agreements in place. To ensure a decent living wage, we offer additional benefits such as housing, healthcare, and education to all permanent employees and their families. We support our employees’ rights to collective bargaining, and they are free to register with their preferred labor union. Safety is paramount in our workplaces, and we provide secure environments for our employees. Our robust Occupational Health and Safety (OHS) management system is designed to minimise adverse health impacts and prevent accidents. All our sites are equipped with SMK3 (Indonesian OHS standard) management systems and all workers undergo annual refresher training to ensure operational compliance. Additionally, workers are briefed and receive training on safety standards and operating procedures before commencing work each morning. Our Training and Development programmes offer professional development and career progression opportunities for our employees, helping to address our need for skilled and capable human resources. 1 This includes batch barcodes for FFB from our South Sumatra plasma estates. 2 The nine “core” ILO Conventions ratified by Indonesia are: i. Forced Labour Convention, 1930 (No. 29); ii. Freedom of Association and Protection of the Right to Organise Convention, 1948 (No. 87); iii. Right to Organise and Collective Bargaining Convention, 1949 (No. 98); iv. Equal Remuneration Convention, 1951 (No. 100); v. Abolition of Forced Labour Convention, 1957 (No. 105); vi. Discrimination (Employment and Occupation) Convention, 1958 (No. 111); vii. Minimum Age Convention, 1973 (No. 138); viii. Worst Forms of Child Labour Convention, 1999 (No. 182); ix. Promotional Framework for Occupational Safety and Health Convention, 2006 (No. 187) Indofood Agri Resources Ltd | Sustainability Report 2023 10 Our Approach At a Glance Our Business Environment Sourcing People Community Product CEO Statement Appendix

Community Relations (GRI 3-3) As a prominent palm oil company, we acknowledge our capacity to bring about positive impacts on the lives of those residing in and around the areas where we operate. We uphold the rights of our communities, including the FPIC rights of indigenous people affected by our operations. Building and maintaining robust relations with these stakeholders is a deliberate effort, and we strive to address their needs. Our commitment extends to compliance with Indonesian law, the UN Universal Declaration on Human Rights, and the codes of practice endorsed by the ILO and ratified by the Republic of Indonesia. We are dedicated to empowering local communities and enhancing socio-economic well-being. Through our Work and Estate Living Programme, we actively support communities and collaborate with local governments to promote economic development. Additionally, we facilitate access to healthcare and education. Product Integrity (GRI 3-3) Ensuring product quality and safety is paramount to our business success. Given the widespread use of palm oil in both edible and non-edible products, maintaining elevated standards of product quality and process safety is imperative. We achieve this through food safety management systems and quality assurance implemented at our refineries, as outlined in our Quality Policy and Sustainable Agriculture Policy. Our commitment to these standards is validated by certifications to local and international food safety standards, including Indonesia National Standard (SNI) for 5 refineries, ISO 9001 for 5 refineries, and FSSC 22000 for 1 refinery. We conducted our routine internal audit trainings for all 5 refineries in 2023, including the Bitung plant that went through its first ISO 9001 audit and obtained the certification during the year. The ISO 9001 audits did not raise any significant issues. Meeting the expectations of our customers for full product traceability and fulfilling regulatory requirements for comprehensive information on ingredients and nutritional content are key priorities. We diligently comply with all regulations concerning food safety, consumer protection, quality, nutrition, labeling, and advertising. Our batch coding system allows us to trace all supplied CPO back to their source milling sites. Furthermore, our products and refineries receive certifications from approved Halal certification systems such as LPPOM MUI, The Assessment Institute for Foods, Drugs, and Cosmetics, and the Indonesian Council of Ulama. In November 2023, we completed the process of obtaining Halal certifications for all our palm oil products. Learning activities in our high school facility in Sungai Dua Estate, Rokan Hilir, Riau Indofood Agri Resources Ltd | Sustainability Report 2023 11 Our Approach At a Glance Our Business Environment Sourcing People Community Product CEO Statement Appendix

BUSINESS OVERVIEW INTRODUCTION We operate as a diversified and vertically integrated agribusiness, covering the entire value chain from plantation management and crop production to the processing, refining, branding, and marketing of edible oil products. We run processing facilities dedicated to producing palm oil, rubber, sugar, cocoa, and tea. In Indonesia, our oil palm estates are predominantly situated in rural Sumatra and Kalimantan, while our refineries are primarily located in major cities including Jakarta, Medan, Surabaya, and Bitung. FFB harvesting process in Cipta Graha Estate, Kutai Timur, East Kalimantan Indofood Agri Resources Ltd | Sustainability Report 2023 12 Our Business At a Glance Our Approach Environment Sourcing People Community Product CEO Statement Appendix

CAPTURING VALUE ACROSS OUR OPERATIONS IN INDONESIA (GRI 2-6) At our R&D centres, we engineer more efficient, resilient seeds and planting materials. Our EOF products are used by consumers for daily living and by customers as input for their products. At our refineries, we refine CPO into higher value edible oil and fat (EOF) products. SEED BREEDING REFINERIES CUSTOMERS & CONSUMERS 2 R&D centres >54,000 plasma smallholders seeds In nucleus and smallholders’ plantations, we grow oil palm, sugar cane, rubber, cocoa and tea in a responsible manner. PLANTATIONS 244,337 oil palm 13,384 sugar cane 293,429 nucleus area covering all crops 16,238 rubber 19,470 other crops 90,867 plasma partnership for oil palm and rubber 83% of EOF products serve domestic consumers All our consumer cooking oil brands are fortified with Vitamin A At our mills, we process FFB into CPO and CPKO, latex into crumb and sheet rubber, and sugar cane into sugar. FFB processing capacity Rubber processing capacity Partnership CPO processing capacity Cane crushing capacity MILLS 27 palm oil mills 3.4M tonnes of FFB from our nucleus estates, plasma, and third parties milled into 708,000 tonnes of CPO and 175,000 tonnes of PK in 2023 743,000 tonnes of CPO sold: 75% to IndoAgri refineries, 25% to external parties 7.2M tonnes of FFB per year 5 (3 crumb and 2 sheet) rubber facilities 2 sugar cane mills 33,000 tonnes of crumb and sheet rubber per year 2.2M tonnes of sugar per year 5 refineries 1.7M tonnes of CPO per year Planted area (hectares) Indofood Agri Resources Ltd | Sustainability Report 2023 13 Our Business At a Glance Our Approach Environment Sourcing People Community Product CEO Statement Appendix

WORKFORCE PROFILE (GRI 2-7, 2-8) 48,043 WORKFORCE 32,733 permanent employees 7,476 seasonal contract workers 95% based in field and processing sites 7,834 short-term employees 17% female 83% male 90% based in Sumatra and Kalimantan 5% based in head and regional offices 10% based in Java and Sulawesi Additional employee statistics are provided in the Appendix. Oil Palm: Our Principal Crop Our Agribusiness Group addresses the evolving needs of our customers and stakeholders through our two seed breeding R&D centres: PT Sumatra Bioscience (Sumbio) in North Sumatra and PT Sarana Inti Pratama (SAIN) in Pekanbaru. The oil palm seeds developed at these centres utilise renowned breeding populations from Southeast Asia and Africa, resulting in high-yielding seed material that is free of genetically modified organisms. As of December 31, 2023, 10% of our total planted oil palm estate areas, covering 244,337 hectares, were categorised as immature estates. The average age of our oil palm trees is 19 years, with 13% being under seven years old, a crucial indicator for predicting our future CPO production. Rubber Our rubber operations are spread across North and South Sumatra, East Kalimantan, and Sulawesi. In the year 2023, we achieved a rubber production of 4,700 tonnes in the form of sheet and cup lump rubber. Of the total rubber product, including sheet rubber and crumb rubber, 47% was sold within the domestic market, while the remaining portion was exported. Our Other Crops In Indonesia, our agricultural endeavours extend to other crops such as sugar, cocoa, and tea. In Brazil, our involvement in sugar operations is facilitated through a 36.21% joint venture known as CMAA. In the year 2023, CMAA achieved notable production figures, crushing a record 9.5 million tonnes of sugar cane and producing 703,000 tonnes of raw sugar, 352,000 m3 of ethanol, and 426,000 MWh of electricity, catering to both export and domestic markets. Furthermore, CMAA successfully obtained Bonsucro certification for 3.5 million tonnes of sugarcane, accounting for 73% of its total cane produced by CMAA. Our Edible Oil Products Over 83% of our Edible Oils and Fats (EOF) are distributed within the Indonesian market, with the remaining portion allocated for export. In the Indonesian market, our cooking oils are available under renowned brands such as Bimoli, Bimoli Spesial, and Happy. Additionally, our consumer margarine and shortening products are marketed under the Amanda, Palmia, and Royal Palmia brands. The industrial counterparts of these products are branded Amanda, Delima, Malinda, Palmia, and Simas. Our edible oil products Indofood Agri Resources Ltd | Sustainability Report 2023 14 Our Business At a Glance Our Approach Environment Sourcing People Community Product CEO Statement Appendix

PROTECTING OUR ENVIRONMENT Simpai (Presbytis melalophos), one of the protected animals in our conservation area at Musi Rawas, South Sumatra INTRODUCTION The Indonesian Archipelago stands out as one of the most biodiverse regions globally. However, the environment and society face challenges from the growing impact of extreme weather patterns and other consequences of climate change. IndoAgri is dedicated to functioning as a responsible agribusiness, safeguarding our ecosystems, and fostering resilience and longterm sustainability. This section details our commitments and advancements in environmental protection, covering aspects such as fire control, climate change mitigation and adaptation, resource efficiency, waste management, and chemical usage. Aligned with SDGs Material topics and focus areas: Protection of forests, peatland and biodiversity Fire control and haze prevention Climate change and GHG emissions Water, waste and effluents Use of fertilisers, pesticides and chemicals Scope of section Palm oil and rubber operations Indofood Agri Resources Ltd | Sustainability Report 2023 15 Environment At a Glance Our Approach Our Business Sourcing People Community Product CEO Statement Appendix

primary forest clearance on our sites degradation of HCV areas new planting on peatland since 2013 healthy water levels Protection of forests, peatland and biodiversity Fire control and haze prevention Climate change and GHG emissions burning for land clearing and replanting fire control team in every estate reduction in GHG emissions from estate and palm oil mill operations of fuel used in palm oil mills is from renewable products 1% 99% reduction of water intensity in mills compared to 2020 baseline increase of water intensity in refineries compared to 2020 baseline hazardous waste disposed by an accredited 3rd party of non-hazardous waste sent for recycling of milling waste reused by estates and mills Water, waste and effluents In this section UPDATES FOR 2023 No No No Maintained Zero Trained 2% 27% 100% 65% 100% PROTECTING OUR ENVIRONMENT Material topics Goal/target Updates for 2023 Climate Change and GHG Emissions 3% Energy intensity reduction by 2025 based on 2020 baseline across all oil palm operations 4% reduction in energy consumption intensity per tonne of FFB processed in mills compared to 2020 baseline 2% Energy intensity reduction by 2025 based on 2020 baseline across all refinery operations 24% increase in energy consumption intensity per tonne of material produced at our refineries compared to 2020 baseline* Reduce GHG emissions per tonne of palm product 1% reduction in Total GHG emissions from mills and estate operations Water, Waste and Effluents 3.5 % Intensity reduction across all oil palm operations and refineries (per tonne of FFB processed in mills or material produced in refineries) by 2025, based on 2020 baseline 2% reduction of water intensity in mills compared to 2020 baseline 27% increase of water intensity in refineries compared to 2020 baseline* Maintain effluent levels to be within local regulation thresholds All effluent levels within regulation thresholds Fire Control and Haze Prevention Continue to strengthen fire mitigation procedures Completed 27 fire control training days in 35 estates in 2023 Continue to engage local communities and villages on fire-fighting and prevention Engaged 108 villages on fire prevention since 2016 * 2023 energy and water intensity per tonne of material produced at our refineries increased against 2020 baseline. This was mainly due to lower processed material volumes and fluctuations in the quality of raw materials. In terms of 2023 absolute consumption, it recorded a reduction against 2020 baseline. Indofood Agri Resources Ltd | Sustainability Report 2023 16 Environment At a Glance Our Approach Our Business Sourcing People Community Product CEO Statement Appendix