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Excerpt from Broker report.

• Report Summary
• First Resources Ltd. is expected to benefit from seasonal production increases and policy tailwinds, driving higher palm oil volumes and supporting resilient earnings.
• Strong financial performance in 1H25, with net profit up 43.6% and sales up 47.4% year-on-year, supported by higher selling prices, increased volumes, and cost efficiency gains.
• Indonesia’s biodiesel mandate and strategic export demand from China and India are set to boost domestic and global palm oil consumption, enhancing revenue visibility for First Resources.

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