1

WILMAR INTERNATIONAL LIMITEDCORPORATE PRESENTATION 14 DECEMBER 2006

2

Presentation Overview

• Introduction• Proposed merger with Kuok Group’s plantation,

edible oils, grains and related businesses• Proposed acquisition of the edible oils, grains and

related businesses of Wilmar Holdings Pte Ltd (“WHPL”), including interests held by ADM group (“ADM”)

• Rationale for the proposed acquisitions• Questions & answers

3

Introduction

4

Creation of one of the largest listed companies in Singapore by market capitalisation

• Proposed merger with Kuok Group’s plantation, edible oils, grains and related businesses (“KG Merger”)– Voluntary general offer of Bursa Malaysia-listed PPB Oil

Palms Berhad (“PPBOP”) – 65.8% stake in PGEO Group Sdn Bhd (“PGEO”)– 100.0% stake in Kuok Oils & Grains Pte Ltd (“KOG”)

• Proposed acquisition of the edible oils, grains and related businesses owned by WHPL, including interests held by ADM (“IPT Acquisitions”)

• Proposed KG Merger and IPT Acquisitions will create one of the Asia’s leading agribusiness group and one of the largest listed companies on SGX-ST by market capitalisation

5

Proposed US$2.7b KG Merger

6

• Listed on Bursa Malaysia with a market capitalisation of approx RM4.0b as at 13 Dec 06

• Principally engaged in oil palm cultivation and milling

• Owns a 34.2% stake in PGEO

US$364.1mUS$339.5mNTAUS$30.9mUS$36.9mNet profit

9M06FY05PPBOP

Proposed US$1.1b voluntary general offer for PPBOPBackground Information

7

• Landbank in East Malaysia (Sabah and Sarawak) and Indonesia

Proposed US$1.1b voluntary general offer for PPBOPBackground Information

67,475Mature area harvested (ha)

Mill production

1,081,309FFB production (MT)

300,063Crude palm oil (MT)

61,360Palm kernel (MT)

As at 30 Sep 2006Plantation statistics

96,114

363,405Landbank (ha)

Total planted area (ha)

8

• Voluntary general offer (“VGO”) for all the issued shares in PPBOP– Share exchange ratio of 2.3 new Wilmar shares for every 1 PPBOP

share– 55.6% held by PPBG

• Exploring with CIMB Group for possible arrangement to allow PPBOP shareholders to receive cash at a price to be determined

• VGO is subject to, inter alia, Wilmar shareholders’ approval

Proposed US$1.1b voluntary general offer for PPBOPPurchase Consideration & Approval

1,024.5mNo. of new shares to be issuedUS$1.1bConsideration

Based on 100% acceptance of the VGO

9

• Flagship company responsible for the processing and trading of oils & grains products under the Kuok Group of companies

• Processing facilities located in China, Malaysia, Indonesia, Vietnam, New Zealand, the Netherlands and Germany

Proposed US$1.2b acquisition of a 100% stake in KOGBackground Information

US$293.3mUS$205.2mNTAUS$62.6mUS$15.1mNet profit

9M06FY05KOG

10

• 3 key areas of KOG’s business in China– Consumer packs oil

• Leading consumer packs manufacturer and distributor where its “Arawana” brand is the No. 1 brand in China

• Sales volume in excess of 1m tonne in 2005• Official cooking oil supplier to Beijing Olympics 2008

– Specialty fats• Leading producer and supplier of specialty fats in China• Distribution network that covers 150 cities in China• Sales volume of 240,000MT in 2005 (accounting for a substantial

share in China’s specialty fats market)– Oleochemicals

• One of the largest oleochemical manufacturers in China• Other operations include flour and feed milling, oilseeds crushing

and refining

Proposed US$1.2b acquisition of a 100% stake in KOGBackground Information

11

• Consideration for the proposed acquisition to be satisfied by issue of approx 1,091.6m new Wilmar shares at an issue price of S$1.71 per Wilmar share

• Proposed acquisition is subject to, inter alia, Wilmarshareholders’ approval

• Expected to complete in Q2 2007

Proposed US$1.2b acquisition of a 100% stake in KOGPurchase Consideration & Approval

12

• Major palm and lauric oils refiner and exporter in Malaysia• Operates six refineries with a combined production capacity

close to 4.7m MT p.a.

• Approx 90% of production is exported to China, EU countries, India, Korea, Japan, USA, Middle East and Russia whilst the balance is sold locally in Malaysia

Proposed US$320m acquisition of a 65.8% stake in PGEOBackground Information

US$171.1mUS$146.2mNTAUS$24.8mUS$24.8mNet profit

9M06FY05PGEO

13

• Offer for 65.8% stake as 34.2% is held by PPBOP• Consideration for the proposed acquisition to be satisfied by

issue of 287.1m new Wilmar shares at an issue price of S$1.71 per Wilmar share

• Conditional upon VGO of PPBOP having become unconditional• Subject to, inter alia, Wilmar shareholders’ approval

Proposed US$320m acquisition of a 65.8% stake in PGEOPurchase Consideration & Approval

FFM Berhad

PGEO65.8% 34.2%

55.6%100%

14

Financial effects of the KG Merger

As at 30 Sep 06

25.1918.69NTA per share (US cents)

1,243,332473,374NTA (US$’000)

3.612.70Earnings per share (US cents)

178,07268,263Earnings (US$’000)

0.371.19Net gearing (times)

0.441.34Gross gearing (times)

After the KG Merger (assuming 100%

acceptance of VGO)

Before the KG Merger

For 9 months ended 30 Sep 06

15

Proposed US$1.6b IPT Acquisitions

16

Proposed US$1.6b IPT Acquisitions Background Information

• Principally engaged in the origination, processing, branding and distribution of edible oils, oilseeds and grains

• Principal operations located in China, India, Africa and Ukraine– Largest processor of oilseeds and edible oils in China– One of the largest edible oils refiners in India (through joint

venture)– One of the leading consumer pack edible oils brands in China

and India– One of the largest oleochemical manufacturers in China– One of the leading exporters of edible oils to East and South

Africa– Largest processor of edible oils in Ukraine

17

Proposed US$1.6b IPT AcquisitionsBackground Information

US$814.8mUS$721.5mNTAUS$116.6mUS$11.1mNet profit

9M06FY05

• Other operations include specialty fats, flour and rice milling,and grain merchandising

18

Proposed US$1.6b IPT AcquisitionsWHPL – Production capacities

957,000 957,000 -India - Refining

231,000 231,000 -India - Crushing

165,000 165,000 -Uganda - Refining

40,000 40,000 -Africa/ Ghana - Crushing

90,750 -90,750 Sri Lanka Refining

495,000 -495,000 Ukraine - Refining

Rest of the world

742,500 247,500 495,000 Flour milling

396,000 99,000297,000 Rice milling

2,363,790 1,257,300 1,106,490 Consumer oil packaging

207,900 -207,900 Oleo-chemical

66,000 -66,000 Specialty Fats

4,488,000 1,881,000 2,607,000 Refining

15,965,400 7,896,900 8,068,500 Crushing

China

(MT p.a.)(MT p.a.)As at 30 Nov 06

TotalAssociatesSubsidiaries

19

Proposed US$1.6b IPT AcquisitionsPurchase Consideration

• Restructuring exercise to inject all of WHPL’s oils, oilseeds, grains and related businesses into Wilmar for US$1.1b

• Letter of offer to ADM to acquire ADM’s interests in the companies engaging in the oils, oilseeds, grains and related businesses where they hold shares together with WHPL (“IPT Assets”) into Wilmar for US$476m

• Consideration for the IPT Acquisitions to be satisfied by the issue of 1,449.7m new Wilmar shares

20

Proposed US$1.6b IPT Acquisitions Financial Effects

As at 30 Sep 06

32.7018.69NTA per share (US cents)

1,302,116473,374NTA (US$’000)

4.682.70Earnings per share (US cents)

186,41668,263Earnings (US$’000)

0.821.19Net gearing (times)

1.061.34Gross gearing (times)

After the IPT AcquisitionsBefore the IPT Acquisitions

For 9 months ended 30 Sep 06

21

Proposed US$1.6b IPT AcquisitionsApproval and Timing

• Approval from Wilmar shareholders will be required for the IPT Acquisitions– WHPL will not be voting on the resolution to approve the IPT

Acquisitions at an EGM to be convened

• The IPT Acquisitions are estimated to be completed in Q2 2007

22

Pro forma shareholding structure

23

Proforma shareholding structure

*Assuming all vendors accept the offer and all PPBOP shareholders accept the share offer** ADM will have an effective interest of 16.2% in Wilmar after the transactions

• Depending on acceptance of the VGO, the resulting public shareholding may range from 7.2 to 13.8% (Wilmar will undertake a compliance placement to satisfy the requisite free float requirements)

• Kuok Group will seek a waiver from the Securities Industry Council for any mandatory take-over offer for Wilmar

PGEOKOG

WHPL

100%65.8% 100%

PublicADM

Existing Business

6.7%

100%

48.5% 13.8%31.0%

IPT Assets

19.6%Kuok Group(include PPBG)

34.2%PPBOP

24

Rationale for the Transactions

25

World’s Leading Merchandiser and Processor of Palm Oil

• Leading palm and lauricoils refiner in the world

• Total refining capacity for palm and laurics oil will increase from 5.3m MT p.a. to 9.6m MT p.a.

• Leading merchandiser of palm and lauric oils in most of the major markets in the world (China, India, Africa, E. Europe and Middle East)

• One of the largest palm biodiesel manufacturers

26

Significant increase in production capacities in Indonesia & Malaysia

1

1

14

15

No. of plants

PGEO

100,000

150,480

1,237,500

4,719,000

Capacity (MT p.a.)

1,050,000

166,320

1,564,200

5,339,400

Capacity (MT p.a.)

Capacity (MT p.a.)

No. of plants

No. of plants

As at 30 Sep 2006

316,80043Specialty fats

1,150,00043Biodiesel(All plants under construction)

29

33

15

18

Wilmar

2,801,700

10,058,400

Combined Group

Refinery – palm & laurics

Palm kernel & Copra crushing

Activities

27

Significant oil palm plantation owner• Creation of a plantation group with 573,405 ha of landbank and 160,786 ha of

total planted area• With the additional expertise of PPBOP, Wilmar will be able to expand its oil

palm acreage more aggressively, to become one of the largest plantation owners in 10 years

1,823,9411,081,309742,632FFB production (tonne)

Mill production

122,31967,475* 54,844Mature area harvested (ha)

8,965,0002,275,0006,690,000Palm oil milling capacity (MT p.a.)

906,625300,063606,562Crude palm oil (tonne)

204,55661,360143,196Palm kernel (tonne)

96,114

363,405

PPBOP

160,786

573,405

Combined Group

WilmarPlantation statisticsAs at 30 September 2006

* 64,672

210,000Landbank (ha)

Total planted area (ha)

* Including acquisitions announced on 21 September 2006.

28

Location of Indonesian & Malaysian operations

29

Dominant Processor and Merchandiser of Agricultural Products in China

Largest oilseed crusher, edible oils refiner, specialty fats andoleochemical manufacturer and merchandiser of consumer pack

edible oils

KOG• Leading merchandiser of consumer

pack edible oils • One of the largest manufacturers

of oleochemicals• Manufacturing facilities in flour

and feed milling, specialty fats, oil seeds crushing and refining

WHPL & ADM• Largest oilseed crusher and edible

oils refiner• Leading merchandiser of consumer

pack edible oils• One of the largest manufacturers of

oleochemicals• Manufacturing facilities in flour and

rice milling and specialty fats

30

WHPL – Manufacturing plants & trading companies in China

31

KOG’s presence in China

32

Significant production capacities in China

4,956,500282,399,000112,557,50017Refinery

8,111,50014802,00037,309,50011Soya bean and oilseeds crushing

236,0002116,0001120,0001Oleochemical

396,0004330,000366,0001Specialty fats

10

No. of plants

KOG

2,983,200

Capacity (MT p.a.)

1,106,490

Capacity (MT p.a.)

Capacity (MT p.a.)

No. of plants

No. of plants

As at 30 Sep 2006

4,089,6902111Consumer oil packaging

WHPL Combined GroupActivities

33

The Leading Agribusiness Group in Asia

• Leading merchandiser and processor of palm and lauric oils in the world

• Leading merchandiser and processor of edible oils and oilseeds in the China

• Sizeable plantation owner in Indonesia and Malaysia

• Dominant processor and merchandiser of agricultural products in China

• One of the Top 15 largest listed company on SGX-ST by market capitalisation (approx US$7.0b) based on market price of S$1.71 as at 13 Dec 06

• Estimated combined turnover of approx US$10.0b and profits of approx US$300m for 9M06

34

Questions & Answers

35

IMPORTANT NOTICE

Information in this presentation may contain projections and forward looking statements that reflect the Company’s current views with respect to future events and financial performance. These views are based on current assumptions which are subject to various risks and which may change over time. No assurance can be given that future events will occur, that projections will be achieved, or that the Company’s assumptions are correct. Actual results may differ materially from those projected.

This presentation does not constitute or form part of any opinion on any advice to sell, or any solicitation of any offer to purchase or subscribe for, any shares nor shall it or any part of it nor the fact of its presentation form the basis of, or be relied upon in connection with, any contract or investment decision.