Interim report
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IOI CORPORATION BERHAD 196901000607 (9027-W) (Incorporated in Malaysia) Interim Report For The Financial Period Ended 31 December 2025
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IOI CORPORATION BERHAD 196901000607 (9027-W) (Incorporated in Malaysia) Interim Report For The Financial Period Ended 31 December 2025 (The figures have not been audited) (The condensed consolidated statement of profit or loss should be read in conjunction with the audited financial statements for the financial year ended 30 June 2025 and the accompanying explanatory notes attached to this interim financial report.) - Page 1 - Condensed Consolidated Statement of Profit or Loss CURRENT YEAR QUARTERPRECEDING YEAR CORRESPONDINCURRENT YEAR TO DATEPRECEDING YEAR CORRESPONDIN31/12/2025 31/12/2024 Changes 31/12/2025 31/12/2024 ChangesRM Million RM Million (%) RM Million RM Million (%)Revenue3,010.1 2,965.8 1%6,061.9 5,639.0 7%Operating profit 433.1 347.0 25%846.9 694.1 22%119.5 107.7 11%218.6 214.4 2%1.7 1.2 42%1.2 1.7 -29%554.3 455.9 22%1,066.7 910.2 17%Interest income6.8 8.6 -21%13.5 17.9 -25%Finance costs(33.3) (33.7) -1%(66.5) (72.5) -8%122.4 (210.0) nm123.5 173.8 -29%650.2 220.8 194%1,137.2 1,029.4 10%Tax expense(113.7) (105.6) 8%(225.7) (194.9) 16%536.5 115.2 366%911.5 834.5 9%Owners of the parent528.5 111.1 376%897.9 821.8 9%Non-controlling interests8.0 4.1 95%13.6 12.7 7%536.5 115.2 366%911.5 834.5 9%Basic8.46 1.79 373%14.42 13.25 9%Diluted8.46 1.79 373%14.42 13.25 9%*nm = not meaningful CUMULATIVE QUARTER (6 Mths) Earnings per share for profit attributable to owners of the parent (sen)Profit for the periodProfit before taxProfit attributable to:Share of results of associatesShare of results of joint venturesProfit before interest and taxNet foreign currency translation gain/(loss) on foreign currency denominated borrowingsINDIVIDUAL QUARTER (Q2)
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IOI CORPORATION BERHAD 196901000607 (9027-W) (Incorporated in Malaysia) Interim Report For The Financial Period Ended 31 December 2025 (The figures have not been audited) (The condensed consolidated statement of other comprehensive income should be read in conjunction with the audited financial statements for the financial year ended 30 June 2025 and the accompanying explanatory notes attached to this interim financial report.) - Page 2 - Condensed Consolidated Statement of Other Comprehensive Income CURRE NT YE AR QUARTE RPRE CE DING YE AR CORRE SPONDING QUARTE R CURRE NT YE AR TO DATEPRE CE DING YE AR CORRE SPONDING PE RIOD 31/12/2025 31/12/2024 Changes 31/12/2025 31/12/2024 ChangesRM Million RM Million (% ) RM Million RM Million (% )Profit for the period 536.5 115.2 366%911.5 834.5 9% (0.7) (0.7) 0% (0.7) (0.7) 0% (0.7) (0.7) 0% (0.7) (0.7) 0% (152.3) 48.8 nm (211.7) (215.8) -2% 6.3 30.2 -79% 3.6 35.5 -90% (0.6) (0.6) 0% (1.2) (1.2) 0% (146.6) 78.4 nm (209.3) (181.5) 15% (147.3)77.7 nm (210.0) (182.2) 15%389.2 192.9 102%701.5 652.3 8%Owners of the parent381.2 188.8 102%687.9 639.6 8%Non-controlling interests8.0 4.1 95%13.6 12.7 7%389.2 192.9 102%701.5 652.3 8%Total comprehensive income attributable to:Total comprehensive income for the periodExchange differences on translation of foreign operationsShare of other comprehensive income of associatesReclassified to profit or lossHedge of interest rate risk on issuance of Guaranteed Notes due 2031Other comprehensive (loss)/income for the period, net of tax CUMULATIVE QUARTE R (6 Mths)Other comprehensive (loss)/income that will be reclassified subsequently to profit or loss when specific conditions are metOther comprehensive income that will not be reclassified subsequently to profit or lossShare of other comprehensive loss of associatesINDIVIDUAL QUARTE R (Q2)
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IOI CORPORATION BERHAD 196901000607 (9027-W) (Incorporated in Malaysia) Interim Report For The Financial Period Ended 31 December 2025 (The figures have not been audited) (The condensed consolidated statement of financial position should be read in conjunction with the audited financial statements for the financial year ended 30 June 2025 and the accompanying explanatory notes attached to this interim financial report.) - Page 3 - Condensed Consolidated Statement of Financial Position AS AT END OF CURRENT QUARTERAS AT PRECEDING FINANCIAL YEAR END31/12/2025 30/06/2025RM Million RM MillionASSETSNon-current assetsProperty, plant and equipment9,597.0 9,432.6 Intangible assets406.5 406.1 Investments in associates3,235.7 3,245.8 Derivative assets13.3 32.7 Deferred tax assets30.6 23.2 Other non-current assets227.2 199.9 13,510.3 13,340.3 Current assetsInventories1,542.6 1,419.8 Receivables1,319.9 1,393.3 Amounts due from associates104.5 102.7 Derivative assets34.3 57.6 Other current assets191.9 211.4 Cash and cash equivalents2,085.1 1,578.4 5,278.3 4,763.2 Assets classified as held for sale- 27.2 TOTAL ASSETS 18,788.6 18,130.7
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IOI CORPORATION BERHAD 196901000607 (9027-W) (Incorporated in Malaysia) Interim Report For The Financial Period Ended 31 December 2025 (The figures have not been audited) (The condensed consolidated statement of financial position should be read in conjunction with the audited financial statements for the financial year ended 30 June 2025 and the accompanying explanatory notes attached to this interim financial report.) - Page 4 - Condensed Consolidated Statement of Financial Position (Continued) AS AT END OF CURRENT QUARTERAS AT PRECEDING FINANCIAL YEAR END31/12/2025 30/06/2025RM Million RM MillionEQUITY AND LIABILITIESEquity attributable to owners of the parentShare capital814.9 791.1 Treasury shares- (309.8) Other reserves(377.0) (167.7) Retained earnings12,536.4 11,980.4 12,974.3 12,294.0 Non-controlling interests 345.3 338.8 Total equity 13,319.6 12,632.8 Non-current liabilitiesLong term borrowings2,334.7 2,474.5 Long term lease liabilities37.8 40.0 Derivative liabilities18.3 1.4 Deferred tax liabilities1,282.6 1,257.0 Other non-current liabilities71.6 74.4 3,745.0 3,847.3 Current liabilitiesShort term borrowings843.6 740.1 Payables765.6 821.9 Derivative liabilities12.6 10.6 Other current liabilities102.2 74.6 1,724.0 1,647.2 Liabilities classified as held for sale- 3.4 Total liabilities 5,469.0 5,497.9 TOTAL EQUITY AND LIABILITIES 18,788.6 18,130.7 Net assets per share attributable to owners of the parent (RM) 2.06 1.98
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IOI CORPORATION BERHAD 196901000607 (9027-W) (Incorporated in Malaysia) Interim Report For The Financial Period Ended 31 December 2025 (The figures have not been audited) (The condensed consolidated statement of cash flows should be read in conjunction with the audited financial statements for the financial year ended 30 June 2025 and the accompanying explanatory notes attached to this interim financial report.) - Page 5 - Condensed Consolidated Statement of Cash Flows 6 Months Ended 6 Months Ended31/12/2025 31/12/2024RM MillionRM MillionOperating ActivitiesProfit before tax1,137.2 1,029.4 Adjustments for:Depreciation and amortisation208.9 202.1 Other non-cash items(255.2) (296.1) Operating profit before working capital changes1,090.9 935.4 (Decrease)/Increase in payables and other liabilites(62.7) 109.6 Increase in inventories(122.4) (211.6) Decrease/(Increase) in receivables and other assets29.6 (35.6) Cash generated from operations935.4 797.8 Retirement benefits paid(1.1) (1.2) Net taxes paid(156.8) (154.7) Net cash from operating activities 777.5 641.9 Investing ActivitiesDividends received98.5 26.3 Interest received13.4 17.9 Proceeds from disposal of property, plant and equipment5.3 2.3 Return of capital contribution from other investment- 9.1 Additions to property, plant and equipment(377.9) (351.8) Additions to other investments(5.6) (1.3) Additions to other intangible assets(1.3) (2.2) Additions to biological assets(0.4) (1.7) Acquisitions of subsidiaries(25.8) (38.9) Additional investment in a joint venture(23.1) - Repayment from a joint venture3.6 1.2 Net repayment from plasma receivables17.4 22.9 Net cash used in investing activities (295.9) (316.2) Financing ActivitiesNet proceeds from sale of treasury shares of the Company333.6 - Dividends paid(341.2) (310.2) Dividends paid to non-controlling interests(7.1) (2.9) Drawdown of Islamic financing facilities224.0 - Repayment of Islamic financing facilities(224.0) (136.9) Repayment of term loans- (4.7) Net drawdowns/(repayments) of short term borrowings124.0 (278.8) Net settlement of hedging instrument arising from repayments of borrowings(1.1) - Payments of lease liabilities(6.7) (7.7) Finance costs paid(65.5) (72.1) Net cash from/(used in) financing activities 36.0 (813.3) Net increase/(decrease) in cash and cash equivalents 517.6 (487.6) Cash and cash equivalents at beginning of financial year 1,578.4 2,181.7 Effect of exchange rate changes (10.9) (4.8) Cash and cash equivalents at end of period 2,085.1 1,689.3
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IOI CORPORATION BERHAD 196901000607 (9027-W) (Incorporated in Malaysia) Interim Report For The Financial Period Ended 31 December 2025 (The figures have not been audited) (The condensed consolidated statement of changes in equity should be read in conjunction with the audited financial statements for the financial year ended 30 June 2025 and the accompanying explanatory notes attached to this interim financial report.) - Page 6 - Condensed Consolidated Statement of Changes In Equity Distributable (RM Million)Share capitalTreasury sharesCapital reserveForeign currency translation reserveHedging reserveOther reserve Retained earnings Total attributable to owners of the parent Non-controlling interests Total equityAs at 1 July 2025 791.1 (309.8) 7.7 (182.2) 15.0 (8.2) 11,980.4 12,294.0 338.8 12,632.8 Total comprehensive (loss)/income - - - (206.0) (1.2) (2.1) 897.2 687.9 13.6 701.5 Transactions with ownersDividends paid in respect of previous financial year- - - - - - (341.2) (341.2) - (341.2) Net proceeds from sale of treasury shares of the Company23.8 309.8 - - - - - 333.6 - 333.6 Dividends paid to non-controlling interests- - - - - - - - (7.1) (7.1) As at 31 December 2025814.9 - 7.7 (388.2) 13.8 (10.3) 12,536.4 12,974.3 345.3 13,319.6 As at 1 July 2024791.1 (309.8) 7.7 95.6 17.6 (5.3) 11,081.7 11,678.6 331.1 12,009.7 Total comprehensive (loss)/income- - - (178.2) (1.2) (2.1) 821.1 639.6 12.7 652.3 Transactions with ownersDividends paid in respect of previous financial year - - - - - - (310.2) (310.2) - (310.2) Dividends paid to non-controlling interests - - - - - - - - (2.9) (2.9) As at 31 December 2024791.1 (309.8) 7.7 (82.6) 16.4 (7.4) 11,592.6 12,008.0 340.9 12,348.9 Non-distributable
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IOI CORPORATION BERHAD 196901000607 (9027-W) (Incorporated in Malaysia) Interim Report For The Financial Period Ended 31 December 2025 (The figures have not been audited) - Page 7 - a) Accounting Policies The interim financial report is unaudited and has been prepared in accordance with Malaysian Financial Reporting Standard (“MFRS”) 134 Interim Financial Reporting, IAS 34 Interim Financial Reporting, provision of the Companies Act 2016 in Malaysia and paragraph 9.22 of the Listing Requirements of Bursa Malaysia Securities Berhad. The report should be read in conjunction with the audited financial statements of the Group for the financial year ended 30 June 2025. The explanatory notes attached to this interim financial report provide an explanation of events and transactions that are significant to an understanding of the changes in the financial position and performance of the Group since the financial year ended 30 June 2025. The accounting policies and methods of computation adopted by the Group in this interim financial report are consistent with those adopted in the annual financial statements for the financial year ended June 2025 except for the adoption of the following amendments to MFRSs: Title Effective Date Amendments to MFRS 121 Lack of Exchangeability 1 January 2025 The adoption of the above Amendments to MFRSs do not have any significant financial impact on the results and the financial position of the Group for the current quarter. b) Seasonal or Cyclical Factors There were no significant seasonal or cyclical factors that affect the business of the Group for the quarter under review. c) Unusual Items There are no unusual items affecting assets, liabilities, equity, net income, and cash flows for the period under review.
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IOI CORPORATION BERHAD 196901000607 (9027-W) (Incorporated in Malaysia) Interim Report For The Financial Period Ended 31 December 2025 (The figures have not been audited) - Page 8 - d) Material Changes in Estimates of Amounts Reported There are no changes in estimates of amounts reported in prior interim periods or financial years that have a material effect in the current financial period. e) Details of Changes in Debt and Equity Securities During the current financial period-to-date, the Company resold all its accumulated 81,501,700 treasury shares at open market. The average price at which the treasury shares were sold was RM4.10 per ordinary share. f) Dividends Paid CURRENT YEAR TO DATE PRECEDING YEAR CORRESPONDING PERIOD RM Million RM Million Second interim single tier dividend in respect of financial year ended 30 June 2025 - 5.5 sen per ordinary share 341.2 - Second interim single tier dividend in respect of financial year ended 30 June 2024 - 5.0 sen per ordinary share - 310.2 341.2 310.2
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IOI CORPORATION BERHAD 196901000607 (9027-W) (Incorporated in Malaysia) Interim Report For The Financial Period Ended 31 December 2025 (The figures have not been audited) - Page 9 - g) Segment Revenue & Results (RM Million)Refinery Oleochemical OthersTotal RBM6 Months Ended 31/12/25REVENUEExternal Sales298.2 3,530.6 2,225.4 0.3 5,756.3 7.4 - 6,061.9 Inter-segment sales1,405.4 - - - - - (1,405.4) - Total Revenue1,703.6 3,530.6 2,225.4 0.3 5,756.3 7.4 (1,405.4) 6,061.9 RESULTOperating profit/(loss)776.7 41.1 69.7 (7.2) 103.6 (4.8) - 875.5 Share of results of associates125.5 - 7.5 85.6 93.1 - - 218.6 Share of results of joint ventures- - - 1.2 1.2 - - 1.2 Segment results before fair value adjustments902.2 41.1 77.2 79.6 197.9 (4.8) - 1,095.3 Fair value gain/(loss) on:Biological assets5.4 - - - - - - 5.4 Derivative financial instruments0.7 (26.1) 1.2 - (24.9) - - (24.2) Segment results908.3 15.0 78.4 79.6 173.0 (4.8) - 1,076.5 Plantation Resource-based Manufacturing ("RBM")Other OperationsEliminationTotal
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IOI CORPORATION BERHAD 196901000607 (9027-W) (Incorporated in Malaysia) Interim Report For The Financial Period Ended 31 December 2025 (The figures have not been audited) - Page 10 - g) Segment Revenue & Results (Continued) (RM Million)Refinery Oleochemical OthersTotal RBM6 Months Ended 31/12/24REVENUEExternal Sales222.7 3,337.1 2,068.9 0.2 5,406.2 10.1 - 5,639.0 Inter-segment sales1,399.6 - - - - - (1,399.6) - Total Revenue1,622.3 3,337.1 2,068.9 0.2 5,406.2 10.1 (1,399.6) 5,639.0 RESULTOperating profit/(loss)720.4 (45.0) 41.6 (9.0) (12.4) 0.6 - 708.6 Share of results of associates131.7 - 11.0 71.7 82.7 - - 214.4 Share of results of joint ventures- - - 1.7 1.7 - - 1.7 Segment results before fair value adjustments 852.1 (45.0) 52.6 64.4 72.0 0.6 - 924.7 Fair value gain/(loss) on:Biological assets16.1 - - - - - - 16.1 Derivative financial instruments(0.1) (18.4) (5.4) - (23.8) - - (23.9) Segment results868.1 (63.4) 47.2 64.4 48.2 0.6 - 916.9 Plantation Resource-based Manufacturing ("RBM")Other OperationsE liminationTotal
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IOI CORPORATION BERHAD 196901000607 (9027-W) (Incorporated in Malaysia) Interim Report For The Financial Period Ended 31 December 2025 (The figures have not been audited) - Page 11 - g) Segment Revenue & Results (Continued) The reconciliations of the total reportable segment results are as follows: 6 Months Ended 6 Months Ended31/12/2025 31/12/2024RM MillionRM MillionTotal segment results1,076.5 916.9 Unallocated corporate net expense(9.8) (6.7) Profit before interest and tax1,066.7 910.2 Interest income13.5 17.9 Finance costs(66.5) (72.5) Net foreign currency translation gain on foreign currency denominated borrowings123.5 173.8 Profit before tax1,137.2 1,029.4 Tax expense(225.7) (194.9) Profit for the period911.5 834.5 There were no material changes in segment assets and segment liabilities from the amount disclosed in the last audited annual financial statements. h) Material Events Subsequent to the End of Financial Period There were no material events subsequent to 31 December 2025 that have not been reflected in the financial statements. i) Changes in the Composition of the Group There were no material changes in the composition of the Group during the financial period ended 31 December 2025. j) Contingent Liabilities There were no significant changes in contingent liabilities since the last annual reporting date.
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IOI CORPORATION BERHAD 196901000607 (9027-W) (Incorporated in Malaysia) Interim Report For The Financial Period Ended 31 December 2025 (The figures have not been audited) Additional Information As Required By Appendix 9b Of Bursa Malaysia Listing Requirements - Page 12 - 1) Detailed Analysis of the Performance of All Operating Segments of the Group a) Q2 FY2026 vs. Q2 FY2025 For Q2 FY2026, the Group reported a profit before tax (“PBT”) of RM650.2 million as compared to RM220.8 million reported for Q2 FY2025. Excluding the non-underlying items as tabulated below, the underlying PBT of RM538.4 million for Q2 FY2026 was 7% higher than the underlying PBT of RM504.6 million for Q2 FY2025, due mainly to higher contribution from resource-based manufacturing segment and marginally higher contribution from plantation segment: RM MillionRM MillionProfit before tax650.2 220.8 Exclude non-underlying items:(112.1) 189.5 Net fair value loss on biological assets 15.7 0.8 Net fair value (gain)/loss on derivative financial instruments (15.4) 93.5 (111.8) 283.8 Underlying profit before tax538.4 504.6 Net foreign currency translation (gain)/loss on foreign currency denominated borrowings and deposits Plantation The plantation segment profit for Q2 FY2026 of RM485.0 million was 3% lower than the profit for Q2 FY2025 of RM498.1 million. Excluding the fair value loss on biological assets and derivative financial instruments of RM15.6 million (Q2 FY2025 – RM0.9 million), the segment reported an underlying profit of RM500.6 million for Q2 FY2026 which was 0.3% higher than the underlying profit of RM499.0 million for Q2 FY2025 due mainly to higher FFB production, partially offset by higher CPO stock level, lower CPO and PK prices realised as well as higher cost of production. The key plantation performance statistics are as follow: Q2 FY2026 Q2 FY2025Average selling price realised (RM/MT)Crude palm oil (“CPO”) 4,224 4,470 Palm kernel (“PK”)3,449 3,461 Fresh Fruit Bunches (“FFB”) production ('000 MT)874 768
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IOI CORPORATION BERHAD 196901000607 (9027-W) (Incorporated in Malaysia) Interim Report For The Financial Period Ended 31 December 2025 (The figures have not been audited) Additional Information As Required By Appendix 9b Of Bursa Malaysia Listing Requirements - Page 13 - 1) Detailed Analysis of the Performance of All Operating Segments of the Group (Continued) a) Q2 FY2026 vs. Q2 FY2025 (Continued) Resource-based Manufacturing The resource-based manufacturing segment profit for Q2 FY2026 was RM83.5 million as compared to the loss of RM59.7 million for Q2 FY2025. Excluding the fair value gain on derivative financial instruments of RM16.8 million (Q2 FY2025 – loss of RM94.1 million), the segment reported an underlying profit of RM66.7 million for Q2 FY2026 which was 94% higher than the underlying profit of RM34.4 million for Q2 FY2025 due mainly to higher margin from refinery sub-segment as well as higher share of associates results. Bunge Loders Croklaan’s profit increased significantly due to good margin from cocoa butter equivalents resulting in better performance for the Asian operations, as well as strong performance for the American operations. The analysis of contribution by segment is as follow: CURRENT YEAR QUARTERPRECEDING YEAR CORRESPONDING QUARTER DIFFERENCERM Million RM Million RM Million500.6 499.0 1.6 Fair value loss on biological assets(15.7) (0.8) (14.9) Fair value gain/(loss) on derivative financial instruments0.1 (0.1) 0.2 Plantation485.0 498.1 (13.1) Refinery15.5 (18.4) 33.9 Oleochemical7.8 27.4 (19.6) Associates45.0 28.3 16.7 Others(1.6) (2.9) 1.3 66.7 34.4 32.3 16.8 (94.1) 110.9 Resource-based manufacturing83.5 (59.7) 143.2 Other operations(3.6) 0.3 (3.9) Segment results564.9 438.7 126.2 (10.6) 17.2 (27.8) Profit before interest and tax554.3 455.9 98.4 Interest income6.8 8.6 (1.8) Finance costs(33.3) (33.7) 0.4 122.4 (210.0) 332.4 Profit before tax650.2 220.8 429.4 Net foreign currency translation gain/(loss) on foreign currency denominated borrowingsPlantation before fair value adjustmentsResource-based manufacturing before fair value adjustmentsFair value gain/(loss) on derivative financial instrumentsUnallocated corporate net (expenses)/income
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IOI CORPORATION BERHAD 196901000607 (9027-W) (Incorporated in Malaysia) Interim Report For The Financial Period Ended 31 December 2025 (The figures have not been audited) Additional Information As Required By Appendix 9b Of Bursa Malaysia Listing Requirements - Page 14 - 1) Detailed Analysis of the Performance of All Operating Segments of the Group (Continued) b) Q2 YTD FY2026 vs. Q2 YTD FY2025 For Q2 YTD FY2026, the Group reported a PBT of RM1,137.2 million as compared to RM1,029.4 million reported for Q2 YTD FY2025. Excluding the non-underlying items as tabulated below, the underlying PBT of RM1,047.6 million for Q2 YTD FY2026 was 21% higher than the underlying PBT of RM863.7 million for Q2 YTD FY2025, due mainly to higher contribution from resource-based manufacturing and plantation segments: RM MillionRM MillionProfit before tax1,137.2 1,029.4 Exclude non-underlying items:(110.7) (176.4) (5.4) (16.1) 26.5 26.8 (89.6) (165.7) Underlying profit before tax1,047.6 863.7 Net foreign currency translation gain on foreign currency denominated borrowings and depositsNet fair value gain on biological assets Net fair value loss on derivative financial instruments Plantation The plantation segment profit for Q2 YTD FY2026 of RM908.3 million was 5% higher than the profit for Q2 YTD FY2025 of RM868.1 million. Excluding the fair value gain on biological assets and derivative financial instruments of RM6.1 million (Q2 YTD FY2025 – RM16.0 million), the segment reported an underlying profit of RM902.2 million for Q2 YTD FY2026 which was 6% higher than the underlying profit of RM852.1 million for Q2 YTD FY2025 due mainly to higher FFB production, partially offset by higher CPO stock level and cost of production. The key plantation performance statistics are as follow: Q2 YTD FY2026 Q2 YTD FY2025Average selling price realised (RM/MT)CPO 4,198 4,271 PK 3,485 3,097 FFB production ('000 MT)1,651 1,528
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IOI CORPORATION BERHAD 196901000607 (9027-W) (Incorporated in Malaysia) Interim Report For The Financial Period Ended 31 December 2025 (The figures have not been audited) Additional Information As Required By Appendix 9b Of Bursa Malaysia Listing Requirements - Page 15 - 1) Detailed Analysis of the Performance of All Operating Segments of the Group (Continued) b) Q2 YTD FY2026 vs. Q2 YTD FY2025 (Continued) Resource-based Manufacturing The resource-based manufacturing segment profit for Q2 YTD FY2026 was RM173.0 million as compared to the profit of RM48.2 million for Q2 YTD FY2025. Excluding the fair value loss on derivative financial instruments of RM24.9 million (Q2 YTD FY2025 – RM23.8 million), the segment reported an underlying profit of RM197.9 million for Q2 YTD FY2026 which was 175% higher than the underlying profit of RM72.0 million for Q2 YTD FY2025 due mainly to higher contribution from refining and oleochemical sub-segments with higher margin. 2) Material Change in Profit Before Tax for the Current Quarter as Compared with the Immediate Preceding Quarter The Group reported a PBT of RM650.2 million for Q2 FY2026 as compared to PBT of RM487.0 million reported for Q1 FY2026. Excluding the non-underlying items as tabulated below, the underlying PBT of RM538.4 million for Q2 FY2026 was 6% higher than the underlying PBT of RM509.2 million for Q1 FY2026, due mainly to higher contribution from plantation segment, partially offset by lower contribution from resource- based manufacturing segment: RM MillionRM MillionProfit before tax650.2 487.0 Exclude non-underlying items:(112.1) 1.4 15.7 (21.1) (15.4) 41.9 (111.8) 22.2 Underlying profit before tax538.4 509.2 Net foreign currency translation (gain)/loss on foreign currency denominated borrowings and depositsNet fair value loss/(gain) on biological assets Net fair value (gain)/loss on derivative financial instruments
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IOI CORPORATION BERHAD 196901000607 (9027-W) (Incorporated in Malaysia) Interim Report For The Financial Period Ended 31 December 2025 (The figures have not been audited) Additional Information As Required By Appendix 9b Of Bursa Malaysia Listing Requirements - Page 16 - 2) Material Change in Profit Before Tax for the Current Quarter as Compared with the Immediate Preceding Quarter (Continued) Details of the segmental results were as follows: Plantation The plantation segment profit for Q2 FY2026 of RM485.0 million was 15% higher than the profit for Q1 FY2026 of RM423.3 million. Excluding the fair value loss on biological assets and derivative financial instruments of RM15.6 million (Q1 FY2026 – gain of RM21.7 million), the segment reported an underlying profit of RM500.6 million for Q2 FY2026 which was 25% higher than the underlying profit of RM401.6 million for Q1 FY2026 due mainly to higher FFB production, OER and share of associates results, partially offset by higher cost of production. The key plantation performance statistics are as follow: Q2 FY2026 Q1 FY2026Average selling price realised (RM/MT)CPO 4,224 4,169 PK 3,449 3,529 FFB production ('000 MT)874 777 Oil Ex traction Rate (“OER”) (%)22.11 21.34 Resource-based Manufacturing The resource-based manufacturing segment profit for Q2 FY2026 was RM83.5 million as compared to the profit of RM89.5 million for Q1 FY2026. Excluding the fair value gain on derivative financial instruments of RM16.8 million (Q1 FY2026 – loss of RM41.7 million), the segment reported an underlying profit of RM66.7 million for Q2 FY2026 which was 49% lower than the underlying profit of RM131.2 million for Q1 FY2026 due mainly to lower contribution from oleochemical sub-segment with lower margin.
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IOI CORPORATION BERHAD 196901000607 (9027-W) (Incorporated in Malaysia) Interim Report For The Financial Period Ended 31 December 2025 (The figures have not been audited) Additional Information As Required By Appendix 9b Of Bursa Malaysia Listing Requirements - Page 17 - 2) Material Change in Profit Before Tax for the Current Quarter as Compared with the Immediate Preceding Quarter (Continued) The analysis of contribution by segment is as follows: CURRENT QUARTERPRECEDING QUARTER DIFFERENCERM Million RM Million RM MillionPlantation before fair value adjustments500.6 401.6 99.0 Fair value (loss)/gain on biological assets(15.7) 21.1 (36.8) Fair value gain on derivative financial instruments0.1 0.6 (0.5) Plantation485.0 423.3 61.7 Refinery15.5 25.6 (10.1) Oleochemical7.8 61.9 (54.1) Associates45.0 48.1 (3.1) Others(1.6) (4.4) 2.8 66.7 131.2 (64.5) Fair value gain/(loss) on derivative financial instruments16.8 (41.7) 58.5 Resource-based manufacturing83.5 89.5 (6.0) Other operations(3.6) (1.2) (2.4) Segment results564.9 511.6 53.3 Unallocated corporate net (expenses)/income(10.6) 0.8 (11.4) Profit before interest and tax554.3 512.4 41.9 Interest income6.8 6.7 0.1 Finance costs(33.3) (33.2) (0.1) 122.4 1.1 121.3 Profit before tax 650.2 487.0 163.2 Net foreign currency translation gain on foreign currency denominated borrowingsResource-based manufacturing before fair value adjustments
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IOI CORPORATION BERHAD 196901000607 (9027-W) (Incorporated in Malaysia) Interim Report For The Financial Period Ended 31 December 2025 (The figures have not been audited) Additional Information As Required By Appendix 9b Of Bursa Malaysia Listing Requirements - Page 18 - 3) Prospects Crude palm oil (“CPO”) price has shown resilience since the beginning of the year, rising from around RM4,000 per metric ton (“MT”) to a peak of approximately RM4,300 per MT before moderating to about RM4,100 per MT recently. Looking ahead, CPO price is expected to be supported by seasonal decline in Fresh Fruit Bunch (“FFB”) production and firmer demand in the lead up to the upcoming major festival period. In addition, soybean oil price, which is currently trading at a large premium to CPO, should continue to lend support to CPO demand and price. However, the upside potential may be constrained by a stronger Malaysian Ringgit, the postponement of Indonesia’s B50 biodiesel mandate, and relatively high Malaysian palm oil inventory levels. On balance, while near term volatility may persist, we expect CPO price to remain supported above RM4,000 per MT over the next three months. For our plantation segment, FFB production is projected to trend higher, driven by a larger proportion of oil palms reaching prime age, despite the ongoing accelerated replanting in Sabah. Continued enhancements in estate management practices, increased mechanisation and the rollout of digital initiatives are expected to further enhance our productivity. We remain positive on the outlook of the plantation segment and expect it to deliver resilient financial performance in FY2026. The outlook for the refinery and commodity marketing sub-segment continues to be challenging. Sales margins are expected to remain under pressure due to elevated inventory levels and intense competition from Indonesian producers. While festive-driven demand may help mitigate the near-term headwinds, our expertise in producing low-contaminant oils, together with ongoing operational efficiency initiatives, will be key to sustaining acceptable financial performance. The operating environment for the oleochemical sub-segment is expected to remain challenging, with subdued customer sentiment amid global trade policy uncertainties and geopolitical tensions. Competition, including from Indonesian producers, is expected to continue to place pressure on sales margins and volume. Nevertheless, initiatives to strengthen our long-term customer relationships and expand into higher-value applications are expected to mitigate the margin pressures. Overall, we expect the sub-segment’s financial performance to be satisfactory over the coming quarters. For the specialty fats sub-segment, represented by our associate company Bunge Loders Croklaan, the good sales margin for cocoa butter equivalents is expected to underpin the better performance of the Asian operations while the completion of the expansion of the New Orleans plant in Q4 FY2026 will further strengthen the performance of the American operations. Overall, despite ongoing market challenges, the Group expects its operating and financial performance for the remaining quarters of FY2026 to be resilient and satisfactory.
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IOI CORPORATION BERHAD 196901000607 (9027-W) (Incorporated in Malaysia) Interim Report For The Financial Period Ended 31 December 2025 (The figures have not been audited) Additional Information As Required By Appendix 9b Of Bursa Malaysia Listing Requirements - Page 19 - 4) Achievability of Forecast Results Not applicable. 5) Variance of Actual Profit from Forecast Results or Profit Guarantee Not applicable. 6) Tax expense CURRE NT YE AR Q UART E RPRE CEDING YE AR CO RRE SPO NDING Q UART ERCURRE NT YE AR TO DATEPRE CE DING YEAR CO RRESPO NDING PERIO DRM MillionRM MillionRM MillionRM MillionThe tax expense comprises the following:Current tax- Current year 114.5 107.5 214.6 193.3 - Prior years0.1 - 0.1 (0.1) Deferred tax- Current year(1.1) (2.0) 10.8 2.1 - Prior years0.2 0.1 0.2 (0.4) 113.7 105.6 225.7 194.9 INDIVIDUAL Q UARTE R (Q 2) CUMULATIVE Q UART ER (6 Mths) The effective tax rates of the Group for Q2 FY2026 and Q2 YTD FY2026 are lower than the statutory tax rate due principally to the share of results of associates, net of tax and non-taxable net foreign currency translation gain on foreign currency denominated borrowings offset against non-deductible expenses. 7) Corporate Proposal There was no corporate proposal announced by the Group but not completed as at 17 February 2026 (being a date not earlier than 7 days from the date of issue of the quarterly report).
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IOI CORPORATION BERHAD 196901000607 (9027-W) (Incorporated in Malaysia) Interim Report For The Financial Period Ended 31 December 2025 (The figures have not been audited) Additional Information As Required By Appendix 9b Of Bursa Malaysia Listing Requirements - Page 20 - 8) Group Borrowings and Debts Securities Foreign currency(Million)RM E quiv alent(Million)Foreign currency(Million)RM Equiv alent(Million)Foreign currency(Million)RM E quivalent(Million)UnsecuredDenominated in USDNotes297.7 1,206.4 - - 297.7 1,206.4 Islamic financing facilities75.0 303.9 85.0 344.4 160.0 648.3 Islamic revolving credit financing facilities45.0 182.4 - - 45.0 182.4 Revolving credit- - 15.5 62.8 15.5 62.8 Trade financing- - 17.4 70.6 17.4 70.6 Denominated in JPYTerm loans21,000.0 544.0 - - 21,000.0 544.0 Denominated in E URIslamic revolving credit financing facilities18.0 85.6 - - 18.0 85.6 Finance lease obligation2.6 12.4 0.1 0.3 2.7 12.7 Denominated in RMTrade financing- - - 365.5 - 365.5 Total 2,334.7 843.6 3,178.3 Foreign currency(Million)RM E quiv alent(Million)Foreign currency(Million)RM Equiv alent(Million)Foreign currency(Million)RM E quivalent(Million)UnsecuredDenominated in USDNotes 297.4 1,325.8 - - 297.4 1,325.8 Islamic financing facilities 105.0 468.2 55.0 245.2 160.0 713.4 Islamic revolving credit financing facilities 45.0 200.6 5.0 22.3 50.0 222.9 Revolving Credit - - 10.5 46.8 10.5 46.8 Trade financing - - 8.9 39.7 8.9 39.7 - - Denominated in JPYTerm loans 21,000.0 597.5 - - 21,000.0 597.5 - - Denominated in E URFinance lease obligation 1.8 8.3 - 0.2 1.8 8.5 - - Denominated in RMTrade financing - - - 147.0 - 147.0 Total2,600.4 501.2 3,101.6 E xchange rates appliedAs at 31 December 2025 As at 31 December 2024USD/RM 4.0523 4.4585 JPY100/RM 2.5904 2.8453 E UR/RM 4.7598 4.6404 As at 31 December 2025Long term Short term Total borrowings As at 31 December 2024Long term Short term Total borrowings
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IOI CORPORATION BERHAD 196901000607 (9027-W) (Incorporated in Malaysia) Interim Report For The Financial Period Ended 31 December 2025 (The figures have not been audited) Additional Information As Required By Appendix 9b Of Bursa Malaysia Listing Requirements - Page 21 - 9) Derivative Financial Instruments a) The outstanding forward foreign exchange contracts as at 31 December 2025 are as follows: Base Currency<1 year1 year to 3 yearsMore than 3 yearsTotal <1 year1 year to 3 yearsMore than 3 yearsTotalVanilla ContractsUSD/RMUSD(326.4) - - (326.4) 23.5 - - 23.5 EUR/RME UR(13.8) - - (13.8) 0.6 - - 0.6 JPY/RMJPY(808.6) - - (808.6) 0.9 - - 0.9 GBP/RMGBP(0.8) - - (0.8) 0.1 - - 0.1 CNY/RMCNY(8.7) - - (8.7) 0.1 - - 0.1 25.2 - - 25.2 Contract/Notional Value (Million) Fair Value – assetsNet short (RM Million) The above contracts were entered into as hedges for sales and purchases denominated in foreign currencies and to limit the exposure to potential changes in foreign exchange rates with respect to the Group’s foreign currencies denominated financial assets and liabilities. There is minimal credit risk as the contracts were entered into with reputable banks. b) The outstanding commodity contracts as at 31 December 2025 are as follows: Base Currency <1 year1 year to 3 yearsMore than 3 yearsTotal <1 year1 year to 3 yearsMore than 3 yearsTotalForward Contracts USD(43.0) - - (43.0)4.7 - - 4.7 RM(30.5) - - (30.5)0.7 - - 0.7 5.4 - - 5.4 Futures RM31.3 - - 31.3(8.6) - - (8.6) (8.6) - - (8.6) Contract/Notional Value (Million)Net (short)/long (RM Million)Fair Value – assets/(liabilities) The above commodity contracts were entered into with the objective of managing and hedging the respective exposure of the Group’s plantation segment and resource-based manufacturing segment to adverse price movements in vegetable oil commodities. The associated credit risk is minimal as these contracts were entered into with licensed brokers of commodity exchanges.
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IOI CORPORATION BERHAD 196901000607 (9027-W) (Incorporated in Malaysia) Interim Report For The Financial Period Ended 31 December 2025 (The figures have not been audited) Additional Information As Required By Appendix 9b Of Bursa Malaysia Listing Requirements - Page 22 - 9) Derivative Financial Instruments (Continued) c) The outstanding cross currency swap contracts as at 31 December 2025 are as follows: Base Currency<1 year1 year to 3 yearsMore than 3 yearsTotal <1 year1 year to 3 yearsMore than 3 yearsTotalJPY liability to USD liability 1JPY- - 15,000.0 15,000.0 - - (1.8) (1.8) JPY liability to USD liability 2JPY- - 6,000.0 6,000.0- - (1.7) (1.7) Floating rate USD liability to floating rate EUR liability 3USD- - 27.5 27.5 - - (1.5) (1.5) Floating rate USD liability to fix ed rate EUR liability 4USD27.5 - - 27.5(1.4) - - (1.4) (RM Million)Contract/Notional Value (Million)Fair Value – liabilities 1 The contracts effectively swapped the Group’s JPY15.0 billion 30-year Fixed Rate Term Loan due 2037 into USD128 million liability and serve as a cashflow hedge for the Group’s principal repayment for the JPY loan obtained. 2 The contracts effectively swapped the Group’s JPY6.0 billion 30-year Fixed Rate Term Loan due 2038 into USD55 million liability and serve as a cashflow hedge for the Group’s principal repayment for the JPY loan obtained. 3 The contracts effectively swapped the Group’s USD27.5 million floating rate Foreign Currency Term Financing-i (FC TERM-i) due 2032 into floating rate EUR liability and serve as a net investments hedge against the Group’s Euro denominated assets. 4 The contracts effectively swapped the Group’s USD27.5 million floating rate Foreign Currency Term Financing-i (FC TERM-i) due 2026 into fixed rate EUR liability and serve as a net investments hedge against the Group’s Euro denominated assets. There is minimal credit risk as the swaps were entered into with reputable banks. d) The outstanding interest rate swap contract as at 31 December 2025 is as follows: Base Currency<1 year1 year to 3 yearsMore than 3 yearsTotal <1 year1 year to 3 yearsMore than 3 yearsTotalInterest Rate Swap 1USD25.0 - - 25.01.1 - - 1.1 Contract/Notional Value (Million)Fair Value – assets (RM Million) 1 The contract effectively swapped the Group’s floating interest rate to fixed interest rate to hedge against interest rate fluctuations. There is minimal credit risk as the swap was entered into with reputable bank.
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IOI CORPORATION BERHAD 196901000607 (9027-W) (Incorporated in Malaysia) Interim Report For The Financial Period Ended 31 December 2025 (The figures have not been audited) Additional Information As Required By Appendix 9b Of Bursa Malaysia Listing Requirements - Page 23 - 9) Derivative Financial Instruments (Continued) All the above derivatives were initially recognised at fair value on the date the derivative contracts were entered into. The derivatives were subsequently remeasured at fair value and the changes in fair value were recognised as follows: i. Derivatives recognised in the other comprehensive income pursuant to MFRS 9 Financial Instruments Cross currency swap contract which swapped a floating rate USD27.5 million liability to a floating rate EUR23.6 million liability. Cross currency swap contract which swapped a floating rate USD27.5 million liability to a fixed rate EUR24.3 million liability. ii. Derivatives recognised in the profit or loss All other derivatives other than those mentioned in (i) above. 10) Fair Value Changes of Financial Liabilities Forward foreign exchange contractsCommodity futures Commodity forward contractsCross currency swap contractsThe prices for the respective commodity futures have moved favourably for/ (unfavourably against) the Group from the last measurement dateThe prices for the respective commodity forward contracts have moved favourably for/ (unfavourably against) the Group from the last measurement dateThe forward andinterest rate termstructure for therespective currencieshave movedunfavourably against for theGroup from the lastmeasurement date(15.3) (16.9) Based on spot,forward and interestrate term structure forthe respectivecurrencies(0.3)(1.1)The difference between the contracted prices rate and forward prices1.3 14.8 The difference between the contracted prices rate and forward pricesType of Financial LiabilityRM MillionBasis of Fair Value MeasurementThe ex change rates have moved unfavourably against the Group from the last measurement dateCurrent Year To DateReason for (loss)/gainFair Value (loss)/gainCurrent QuarterRM Million(0.6)(0.5) The difference between the contracted rates and the market forward rates
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IOI CORPORATION BERHAD 196901000607 (9027-W) (Incorporated in Malaysia) Interim Report For The Financial Period Ended 31 December 2025 (The figures have not been audited) Additional Information As Required By Appendix 9b Of Bursa Malaysia Listing Requirements - Page 24 - 11) Notes to the Condensed Consolidated Statement of Comprehensive Income Profit for the period has been arrived after (crediting)/charging: CURRENT YEAR QUARTERCURRENT YEAR TO DATE31/12/25 31/12/25RM Million RM MillionInterest income(6.8) (13.5) Other income including investment income- Dividend income(0.3) (0.8) Finance costs33.3 66.5 Depreciation and amortisation105.6 208.9 Impairment loss/(Reversal of impairment loss) on receivables0.6 (0.2) Net inventories written down6.5 0.1 Net foreign currency translation gain on foreign currency denominated borrowings(122.4) (123.5) Net foreign currency exchange loss/(gain)16.0 (6.8) Net fair value gain on other investments(0.6) (1.7) Net fair value (gain)/loss on derivative financial instruments(15.4) 26.5 Net fair value loss/(gain) on biological assets15.7 (5.4) Other than as per disclosed above, the group does not have other material items that recognised as profit/loss in the statement of profit or loss and statement of other comprehensive income. 12) Material Litigation There is no pending material litigation as at the date of this announcement.
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IOI CORPORATION BERHAD 196901000607 (9027-W) (Incorporated in Malaysia) Interim Report For The Financial Period Ended 31 December 2025 (The figures have not been audited) Additional Information As Required By Appendix 9b Of Bursa Malaysia Listing Requirements - Page 25 - 13) Dividend The Board has on 24 February 2026 declared a first interim single tier dividend of 5.5 sen (31 December 2024: 5.0 sen) per ordinary share in respect of the financial year ending 30 June 2026 which is not taxable in the hands of the shareholders pursuant to paragraph 12B of Schedule 6 of the Income Tax Act 1967. The dividend will be payable on 24 March 2026 to shareholders whose names appear in the Record of Depositors and Register of Members of the Company at the close of business on 11 March 2026. A Depositor shall qualify for entitlement only in respect of: a. Shares transferred into the Depositor’s Securities Account before 4.30 p.m. on 11 March 2026 in respect of transfers; and b. Shares deposited into the Depositor’s Securities Account before 12.30 p.m. on 6 March 2026 (in respect of shares which are exempted from mandatory deposit); and c. Shares bought on Bursa Malaysia Securities Berhad on a cum entitlement basis according to the Rules of Bursa Malaysia Securities Berhad. The total cash dividend declared to date for the current financial period is a single tier dividend of 5.5 sen (31 December 2024: 5.0 sen) per ordinary share.
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IOI CORPORATION BERHAD 196901000607 (9027-W) (Incorporated in Malaysia) Interim Report For The Financial Period Ended 31 December 2025 (The figures have not been audited) Additional Information As Required By Appendix 9b Of Bursa Malaysia Listing Requirements - Page 26 - 14) Earnings per Share CURRENT YE AR QUARTE RPRE CE DING Y E AR CORRE SPONDING QUARTE RCURRE NT YEAR TO DATEPRE CE DING YEAR CORRESPONDING PE RIODRM Million RM Million RM Million RM Milliona)Basic earnings for the periodProfit for the period attributable to owners of the parent 528.5 111.1 897.9 821.8 Weighted average number of ordinary shares in issue ('Million) 6,247.7 6,203.7 6,225.7 6,203.7 Basic (sen) 8.46 1.79 14.42 13.25 INDIVIDUAL QUARTE R (Q2) CUMULATIVE QUARTE R (6 Mths) b) Diluted earnings for the period The Group has no dilution in its earnings per ordinary share for the financial period under review as there are no dilutive potential ordinary shares. 15) Audit Qualification The audit report on the Group's preceding year’s financial statements is not qualified. By Order of the Board Tan Choong Khiang Company Secretary Putrajaya 24 February 2026
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IOI CORPORATION BERHAD 196901000607 (9027-W) (Incorporated in Malaysia) Interim Report For The Financial Period Ended 31 December 2025 (The figures have not been audited) Additional Information As Required By Appendix 9b Of Bursa Malaysia Listing Requirements - Page 27 - PLANTATION As At As At31/12/2025 31/12/2024Planted AreaOil palmMature(hectares)133,168 142,070 Total planted(hectares)167,798 171,660 RubberMature(hectares)148 447 Total planted(hectares)148 447 CoconutMature(hectares)614 280 Total planted(hectares)4,105 3,563 Total Titled Area(hectares)206,201 205,072 Plantation performance statistics a) Q2 YTD FY2026 vs. Q2 YTD FY2025 Q2 YTD FY2026 Q2 YTD FY2025Average Mature Area HarvestedOil Palm(hectares)134,641 140,281 ProductionOil PalmFFB production(tonnes)1,650,754 1,528,143 Yield per mature hectare(tonnes)12.26 10.89 FFB processed(tonnes)1,680,861 1,558,472 Crude palm oil production(tonnes)365,478 333,988 Palm kernel production(tonnes)62,908 58,255 Crude palm oil extraction rate(%)21.74%21.43%Palm kernel extraction rate(%)3.74%3.74%Average Selling Price RealisedOil palmCrude palm oil(RM/tonne)4,198 4,271 Palm kernel(RM/tonne)3,485 3,097 (RM/tonne)1,894 1,889 Cost of sales(RM/tonne)2,396 2,469 Net cost of sales(RM/tonne)1,791 1,924 CPO Cost of production (Excluded depreciation and amortisation, windfall profit levy and Sabah sales tax)
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IOI CORPORATION BERHAD 196901000607 (9027-W) (Incorporated in Malaysia) Interim Report For The Financial Period Ended 31 December 2025 (The figures have not been audited) Additional Information As Required By Appendix 9b Of Bursa Malaysia Listing Requirements - Page 28 - PLANTATION (Continued) Plantation performance statistics (Continued) b) Q2 FY2026 vs. Q2 FY2025 vs. Q1 FY2026 Q2 FY2026 Q2 FY2025 Q1 FY2026Av erage Mature Area HarvestedOil Palm(hectares)133,797 139,032 135,485 ProductionOil PalmFFB production(tonnes)873,562 768,067 777,192 Crude palm oil production(tonnes)196,124 167,831 169,354 Palm kernel production(tonnes)34,262 28,922 28,646 Crude palm oil ex traction rate(%)22.11%21.51% 21.34%Palm kernel ex traction rate(%)3.86%3.71% 3.61%Av erage Selling Price RealisedOil palmCrude palm oil(RM/tonne)4,224 4,470 4,169 Palm kernel(RM/tonne)3,449 3,461 3,529 (RM/tonne)1,876 1,877 1,916 Cost of sales(RM/tonne)2,361 2,536 2,437 Net cost of sales(RM/tonne)1,754 1,932 1,833 CPO Cost of production (Excluded depreciation and amortisation, windfall profit levy and Sabah sales tax )