OLAM INTERNATIONAL ANNOUNCES A THREE-TRANCHE EQUITY FUND

1. Fully underwritten Equity Fund Raising
2. Tranche One: Successful placement of New Shares to over 100 institutional and other investors raising approximately S$245.46 million gross proceeds demonstrates broad-based and continued investor support for Olam’s growth plans and prospects.
3. Tranche Two: Preferential Offering to entitled shareholders at an issue price of S$2.56 per Preferential Offering Share to raise gross proceeds of approximately S$249.07 million
4. Guaranteed take-up of no less than 39.84% of the Preferential Offering by Kewalram Singapore Limited, Breedens Investments Pte. Ltd. (“Breedens”) and Aranda Investments Pte. Ltd., both indirect wholly owned subsidiaries of Temasek Holdings (Private) Limited and Sunny George Verghese, Group MD & CEO of Olam.
5. Tranche Three: Proposed Subscription of 94,408,000 Subscription Shares by Breedens to raise gross proceeds of approximately S$245.46 million, subject to the approval of shareholders at an EGM to be convened. The Proposed Subscription by Breedens, a key shareholder, demonstrates strong support for Olam’s differentiated strategy.
6. Subject to and upon the terms of the Subscription Agreement, the Company proposes to raise gross proceeds of approximately S$245.46 million through theProposed Subscription by issuing an aggregate of 94,408,000 new ordinary shares in the capital of the Company ("Subscription Shares") at an issue price of S$2.60 per Subscription Share which shall be equal to the final Private Placement issue price of S$2.60 per Placement Share.