Press Release

Singapore

Global food and agri-business Olam International Limited (“Olam”) announced that it has priced a benchmark S$400 million issuance of senior notes due February 2026 (the “Notes”) under its US$5,000,000,000 Euro Medium Term Note Programme.

The Notes were issued at par and priced at a fixed coupon of 4.00% following an intraday book-building exercise.

N Muthukumar, Managing Director and Group CFO of Olam, said: “This issuance marks Olam’s first return to the public capital markets since 2017. The issuance tenor of 5 years and 6 months helped extend our debt maturity into 2026, while still pricing within our secondary trading levels. The issue was well subscribed on the back of strong investor demand and is Olam’s lowest ever coupon for a S$ benchmark size transaction.”

The joint lead managers for the transaction were Australia and New Zealand Banking Group Limited, Credit Suisse (Singapore) Limited, DBS Bank Ltd., The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch and Standard Chartered Bank (Singapore) Limited.

Proceeds from the issuance will be used by Olam for debt refinancing and general corporate purposes.

Note: This release should be read and understood only in conjunction with the full text of Olam International Limited’s announcement lodged on SGXNET on August 18, 2020 on the same subject.

Important Notice

NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES

This press release is not an offer of securities for sale in the United States or elsewhere. The Notes (as defined above) issued under the EMTN Programme have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act") or with any securities regulatory authority of any state or other jurisdiction of the United States. The Notes may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. Accordingly, the Notes are being offered and sold only in offshore transactions as defined in and in reliance on Regulation S under the Securities Act.

This announcement is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for or a sale of Notes in the United States or any other jurisdiction.

The Notes to be issued have not been, and will not be registered under the Securities Act and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. Neither this notice nor any portion hereof may be sent or transmitted into the United States or any jurisdiction where to do so is unlawful. Any failure to comply with these restrictions may constitute a violation of the United States securities law or the securities laws of any such other jurisdiction.