Volume 8 - October 2022

PT. Triputra Agro Persada Tbk (TAPG) is an oil palm, rubber, and processing industries company, with 23 oil palm
plantation estates, 1 rubber plantation, 18 palm oil mills and 1 Ribbed Smoked Sheet factory located in Jambi,
Central Kalimantan and East Kalimantan (including the presence of associate company). In developing its business,
TAPG upholds its sustainability commitment by adopting the global recognized standards and deployment of state-
of-the-art technology in all of its operational activities.
• Revenue ▲51.5% due to the contribution of an • Net Profit ▲228,8%, driven by high growth in
increase in production, especially in Q2-Q3 2022 production with controllable cost & high selling price
and supported by a high in selling price for both
• Core Income excludes forex loss and tax implications
CPO & Palm Kernel. The favorable climate with
for currency translation.
good agronomy practices and productive age are
the key factors. • Forex Loss in 9M 2022 was Rp 153.15 bill and Forex
Loss in 6M 2021 was Rp 40.69 bill (▲276%).
• Cost of Goods Sold ▲16.4% mainly from the
external FFB purchased that recorded ▲33%,
increased production cost, especially in fertilizer
▲26%. Production cost is still controllable offset
by surging in nucleus production. The increase in
productivity offsets higher production cost.

Descriptions 3Q ’22 3Q ’21 % 9M ’22 9M ’21 %

Revenue 2,131,435 1,596,335 33.5% 6,746,488 4,452,740 51.5%
Cost of Goods Sold -1,312,384 -1,217,065 7.8% -3,965,823 -3,407,582 16.4%
Gross Profit 819,051 379,270 116.0% 2,780,665 1,045,158 166.1%
Margin 38.4% 23.8% 41.2% 23.5%
Profit After Tax 577,102 319,508 80.6% 2,420,859 736,300 228.8%
Margin 27.1% 20.0% 35.9% 16.5%
Core Income 612,239 286,510 113.7% 2,541,945 768,039 231.0%
Margin 28.7% 17.9% 37.7% 17.2%
EBITDA 933,113 553,188 68.7% 3,506,246 1,372,046 155.5%
Margin 43.8% 34.7% 52.0% 30.8%
Descriptions 9M ’22 9M ‘21 %
Total Assets 13,995,303 12,003,466 16.6% Age Profile Sept 2022
Including associate company
Total Liabilities 4,274,747 4,695,904 -9.0%
Total : 160,529 Ha
Total Equity 9,720,556 7,307,562 33.0%
(In IDR Mio) Old Mature (> 20 Immature (0-3
Years); 8% Years); 7%
High Production Offset Production Costs With High Prices Continue
to Drive Profits Young Mature
(4-6 Years); 7%
During the 9M 2022, TAPG booked a net profit Rp 2,420.9 billion▲228.8%
significantly higher than last year’s figure. Better delivery with a high
average selling price and controllable production cost is the main factor
Average Age
that increased net profit.
12.2 Year
CPO production in Q3 2022 was up ▲ 36% YoY, slightly below ▼3%
compared to last quarter’s figure due to the seasonal cycle. TAPG age
profile (average 12.2 years) is one of the main factors in production growth
Prime Mature (7-
and potential for higher growth in FY2022. 20 Years); 78%
 Q3 ’22 Q3 ’21 YoY% Q2 ‘22 Last Q% 9M ’22 9M ’21 YoY%

FFB Production (Tons)

FFB Nucleus 854,371 609,876 40.1% 892,084 -4.2% 2,450,247 2,057,445 19.1%

FFB Plasma 101,341 75,473 34.3% 94,804 6.9% 265,275 232,531 14.1%

Mill Performance (Tons)

FFB Processed 1,169,296 857,828 36.3% 1,218,699 -4.1% 3,352,762 2,845,939 17.8%

CPO Production 265,843 196,103 35.6% -2.6% 758,713 654,740 15.9%

272,815
PK Production
PK Production 55,962 41,329 35.4% 57,493 -2.7% 160,169 132.418 21.0%
*
OER (%) 22.7% 22.9% -0.2 ppts 22.8% -0.1 ppts 22.6% 23,0% -0,4 ppts

KER (%) 4.8% 4.8% -0.03 ppts* 4.8% -0,05 ppts 4.8% 4.7% 0,1 ppts
Including associate company * In percentage points

Average Age Planted Area (‘000 Ha)

Additional Information
(Yrs) Mature Total

Nucleus 12.1 131 138 As of Sept 2022, total planted area including nucleus
and plasma reached 160k hectares and Mature 151k
Plasma 12.5 20 22 hectares.
This including planted area for associate company 58k
Total 12.2 151 160
hectares.

Rubber Segment
Rubber segment income in Q3 2022 increased by ▲23% YoY and ▲10% compared last quarter. Production in 9M
2022 is better ▲36% due to favorable climate, but selling price in Q3 decreased due to softening of demand
Q3 ‘22 Q3 ‘21 YoY% Q2 ‘22 Last Q% 9M ‘22 9M ‘21 YoY%
Rubber Sales (Tons)
Slab 214 151 41.7% 233 -8.3% 741 314 136.1%
RSS 93 98 -4.8% 46 101.5% 197 376 -47.7%

Production was increased compared to last year due to favorable climate and most plants are in the productive
period,. Nevertheless, compared to last quarter’s production, there was a slight decrease due to seasonal cycle.
TAPG was benefited from high commodity prices especially in palm oil segment. Production from the rubber sector
has also improved because due to the ability to recover from fungus attacks and better climate.

In 2022, we continue to implement health protocols during the COVID-19 pandemic. TAPG estate operation, mill
processing, and delivery are operated under strictly COVID 19 protocol. We understand that the safety and the
health of our employees is our priority. By doing that we can ensure that the Company is able to uphold its operations
and achieve higher standard to be the best in the class. The COVID-19 pandemic is not over yet, we therefore must
keep the same pace to be able to carry out sustainable and inclusive growth.
TECHNOLOGY : RECORDING AND MONITORING FINDINGS VIA TAPG MOBILE
INSPECTION
As stated in the previous edition, the function of Mobile Inspection for Field Assistants is as a partner to help out
their daily activities. One of the Field Assistant’s activities is to maintain the
block’s condition to remain ideal for the growth and development of palm trees.
Therefore, any conditions that are not ideal and need improvement will be
recorded as noteworthy findings in the app.

The keyword of the Field Assistant’s activities is “recorded” not remembered,

and that is the reason why this feature was made. The app isn’t just used to list
any problematic findings. It can also be used to record any improvements that
need to be made. It also can be used to record how much progress is being
made in terms of improvements.

So how to use this feature? It should be used any time a Field Assistant finds
anything that needs fixing or improving. Starting from taking photos of the
object that is in need of repairs and explain the findings, including taking the
corrective steps by looking at the conditions in the field at that time.The app
also allows you to categorize each problem and provide their locations. A Field
Assistant can then determine the level of priority for correcting any specific
finding.

With this device, any Field Assistant can simply open up the Mobile Inspection’s
history of findings so that they can make daily and monthly work plans without
needing to remember what needs to be done. The data stores what needs to
be done and what kind of support is needed.

The findings registered in the app can also be used as data for discussions
with Senior Assistant Manager (Kepala Kebun), Estate Managers or any other
relevant parties. The data also allows management to help in supervising
plantations. Senior Assistant Manager or Estate Managers can do their own
direct supervision by carrying out sudden inspections any registered problems that they feel may have a major
impact on productivity in the area. Any information on problems in the app can also alert teams to take immediate
action to resolve those problems.

If everything seems to be going well, you obviously don’t know what’s going on
-Edward Murphy-
PROPER-LY SUSTAINABLE
As part of our endeavors to be–and always stay–environmentally “green” and compliant with the globally standardized
and well-recognized Sustainable Development Goals set by the United Nation, we at PT Triputra Agro Persada Tbk.
acknowledge the need to act in accordance with our government’s legislation.

Company Performance Rating Program in Environmental Management (PROPER) is a national-level mandatory

compliance assessment, which subsequently contributes to the Indonesian Sustainable Palm Oil (ISPO) and the
Roundtable on Sustainable Palm Oil (RSPO) certifications. PROPER is a part of government policy in accordance
with the Minister of Environment and Forestry Regulations (Permen LHK) No 1 of 2021, to improve the company’s
environmental management performance in accordance with the legislation. Furthermore, PROPER is also a
manifestation of transparency and democratization in environmental management in Indonesia. The application of
this instrument is an effort by the State Ministry of the Environment to implement Good Governance (transparency,
fairness, accountability, and community involvement) in environmental management.

There are 5 final PROPER results a company can get. Black is the least compliant. If a company were to get 2 Black
PROPER in a row, that business would get the chance of being terminated. Red PROPER comes above Black, and
then Blue is the standard level of compliance. Beyond Blue is “beyond compliance”; Green and Gold, with Gold
being the highest degree of compliance.

This year, TAPG is eyeing to get 11 National Blue PROPER, 1 Regional Blue PROPER, and 6 Regional Green
PROPER. We do not stop there, as we aim for higher goals of achieving all Green and even Gold PROPER within
the next few years, alongside the RSPO certification for all our estates and mills.

11 National 1 Regional 6 Regional

All Green All Gold
Blue Blue Green
PROPER PROPER
PROPER PROPER PROPER

DISCLAIMER: The views expressed here contain information derived from publicly available source that have not been independently verified. No representation
or warranty is made as to the accuracy, completeness, or reliability of the information. Any forward-looking information in this presentation has been prepared
based on several assumptions which may prove to incorrect. This presentation should not be relied upon as a recommendation or forecast by PT Triputra Agro
Persada Tbk. Nothing in this release should be construed as either an offer to buy or sell or a solicitation of an offer to buy or sell shares in any jurisdiction.

TAPG Investor Newsletter – For further information, contact corporate secretary (TAP.corsec@tap-agri.com)
PT Triputra Agro Persada Tbk
The East Building, Lantai 23
Jl. DR Ide Anak Agung Gde Agung, Kav E3-2, No.1
Jakarta 12950 - Indonesia

tap.agri tap_agri Tap.agri Triputra Agro Persada www.tap-agri.com