Company Presentation

June 2010

Disclaimer

This document and its contents are confidential and should not be copied, reproduced, distributed or passed on, directly or indirectly, to any other persons orpublished in whole or in part for any purpose. The presentation and any further confidential information made available to you is being supplied to you byEquatorial Palm Oil plc (the “Company”) solely for your information and may not be reproduced, forwarded to any other person or published, in whole or in part,for any other purpose. This document and its contents have not been approved by an authorised person within the meaning of the Financial Services andMarkets Act 2000 and do not conform to the rules and regulations of the U.S. Securities and Exchange Commission and other regulatory bodies in the UnitedStates. The securities mentioned herein have not been and will not be, registered under the Securities Act or under any U.S. State securities laws, and maynot be offered or sold in the United States unless they are registered under the Securities Act or pursuant to an exemption from or in a transaction not subjectto the registration requirements of the Securities Act.

This presentation is being distributed on request in or from the United Kingdom and the United States (as such term is defined in Regulation S under the U.S.Securities Act of 1933, as amended (the “Securities Act”)) only to and are directed at (1) (a) persons who have professional experience in matters relating toinvestments being investment professionals as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the“FPO”), (b) high net worth companies as defined in Article 49(2) of the FPO, (c) certified sophisticated investors as defined in Article 50(1) of the FPO or (d)persons to whom it may otherwise lawfully be communicated (together “Relevant Persons”) and (2) persons within the United States who are “accreditedinvestors” as defined in Rule 501(a) of Regulation D under the Securities Act who are also “qualified institutional buyers” (“QIBs”) as defined in Rule 144Aunder the Securities Act. In order to qualify as a certified sophisticated investor you must have a current certificate signed by a person authorised by theFinancial Services Authority to the effect that you are sufficiently knowledgeable to understand the risks associated with this particular type of investment andyou must have signed within the last 12 months a statement in the terms set out in Article 50(1)(b) of the FPO. The ordinary shares are available only to, and

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Financial Services Authority to the effect that you are sufficiently knowledgeable to understand the risks associated with this particular type of investment andyou must have signed within the last 12 months a statement in the terms set out in Article 50(1)(b) of the FPO. The ordinary shares are available only to, andany invitation, offer or agreement to subscribe, purchase or otherwise acquire the ordinary shares will be engaged in only with, Relevant Persons or AccreditedInvestors. Any person who is not a Relevant Person or an Accredited Investor should not rely on this document nor take any action upon it, but should return itimmediately to the Company.

We urge you to review the carefully before making any investment decision. This presentation shall not constitute an offer to sell, or the solicitations of an offerto buy, nor shall there be any sale of the securities mentioned herein in any State in which such offer, solicitation, or sale would be unlawful under the securitieslaws of any such State. Neither the Securities and Exchange Commission, nor any state regulatory authority endorses this offering. This presentation must beread in conjunction with the Admission Document and it contains only a synopsis of more detailed information to be made available in relation to the mattersdescribed in this document and accordingly no reliance may be placed for any purpose whatsoever on the sufficiency or completeness of such information andto do so could potentially expose you to a significant risk of losing all of the property invested by you. The proposals in the presentation are preliminary and aresubject to updating, completion, revision, amendment and verification, which may result in material changes. No reliance should be placed on any of theinformation and no representation or warranty, express or implied, is given by the Company as to the accuracy of the information or opinions contained in thisdocument and, save in respect of fraud, no liability is accepted by the Company or any of its directors, members, officers, employees, agents or advisers forany such information or opinions.

This presentation contains certain forward-looking information about the Company which are statements, beliefs, opinions or projections that are not historicalfacts. By their nature, forward looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differmaterially from those expressed or implied by the forward looking statements. Words such as “expect(s)”, “believe(s)”, “may”, “anticipate(s)”, “project(s)”,“forecast” and similar expressions are intended to identify forward-looking statements. Forward looking statements contained in this document regarding pasttrends or activities should not be taken as a representation that such trends or activities will continue in the future. Accordingly, results could differ from thoseprojected as a result of, among other factors, changes in economic and market conditions, changes in the regulatory environment and other business andoperational risks.

By attending the presentation and/or retaining these presentation materials you agree to be bound by the foregoing restrictions.

Mission Statement

“Equatorial Palm Oil Plc aims to be a sustainable, low-cost producer of crude palm oil in Africa through the reactivation and development of its existing

plantations and agricultural land position in Liberia”

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plantations and agricultural land position in Liberia”

Equatorial Palm Oil (EPIC: PAL)

Key Data

Share Price 13.25p

Market AIM

Ticker PAL

Market Capitalisation £10.86m

Ordinary Shares in issue 114.75m

Nominated Advisor & Joint Broker

Shore Capital & Corporate Ltd

Joint Broker Mirabaud Securities LLP

4

Significant Shareholders

BioPalm Energy Ltd

Chase NomineesLimited

Joseph Jaoudi

Michael Frayne

Harewood NomineesLimited

Investment Overview

• Land position of c.169,000 hectares with proven suitability for sustainable cultivationof oil palms for the production of crude palm oil (‘CPO’)

• 10 year target of at least 50,000 hectares of oil palm planted & CPO production of250,000 tpa

• Active development strategy focussed on early stage cash flow to deliver value toshareholders - project offers short-term cash flow with high longer term capital growth

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shareholders - project offers short-term cash flow with high longer term capital growth

• Liberia is a newly politically stable country and a fast growing investment destinationfor multi-national corporations (Arcelor Mittal, Sime Darby)

• Highly favourable valuation compared to listed peer group

• Recently secured £5 million from investment by Indian conglomerate The Siva Group

• Highly experienced management team with proven track record of managing growthand in particular, palm oil developments

Palm oil is the most widely produced edible oil in the world, with demand increasing

Board & Senior Management

Michael FrayneExecutive Chairman

15 years of experience in the resources sector, successfully establishing several UK and Australianlisted companies - founding director of Asia Energy plc

Peter BaylissManaging Director

Over 20 years of experience in the oil palm sector, including 8 years in PNG with New Britain Palm OilDevelopment Ltd. Significant experience in large scale plantation development, particularly inIndonesia with SA SIPEF NV

Geoff BrownPlantations Director

Former Chairman of New Britain Palm Oil & Plantations Director of Harrisons & Crosfield plc. Over 40years of experience in plantation management, including 10+ in Malaysia and 20+ in Indonesia asManaging Director of P.T. London Sumatra Indonesia

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Joseph JaoudiNon Executive Director

A qualified engineer who owned and operated the Palm Bay plantation in Liberia for over 10 years. Healso managed other significant businesses in Liberia and USA including biomass power generation

Anthony SamahaNon Executive Director

Chartered accountant ex Ernst & Young, experience in due diligence, capital raising, valuations, andmergers and acquisitions. Anthony is a director of AIM listed, Altona Energy plc

Tim DanielChief Financial Officer

Qualified Chartered Accountant ex KPMG. Tim subsequently worked as an investment analyst with aLondon-based hedge fund, focusing on the high yield bond market

Alan YancyManager Corporate Affairs

30 years extensive experience of Liberian business and politics and held senior positions in theLiberian Sugar Corporation for 7 years

David ParkerManager of Small Holder Affairs

Five years in Liberia with one of his key roles advising the European Commission on the developmentof rubber and oil palm plantations

Market Dynamics

• Growth facilitated by strong domestic and global demand for CPO:• Import of CPO into West Africa is currently over 800,000 tonnes per annum• Increasing population and improved standards of living – primary drivers in India and China• Diet and preference - US has seen 30% annualised growth in demand in the last 7 years due to positive

health findings• Additional industrial demand underpinned by crude mineral oil price

• Oil palm is indigenous to West Africa and with the application of SE Asian techniques and the

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latest seed genetics, Africa should again become a key player in world CPO market

• Significant under-investment in West African oil palm industry compared to Malaysia andIndonesia due to historical reasons

• Provides a comparably lower cost entry point for palm oil development and investment

• High demand from large companies, including Sainsbury’s and Unilever, which are now looking todevelop sustainable palm oil

“CPO demand is projected to grow at 5-6% p.a. until 2015, driven by demand in Africa, India, China & the US, in addition to renewable energy demand”

Crude Palm Oil Price

Price of CPO expected to remain robust in the short and medium term

1000

1200

1400

1600

CP

O R

otte

rdam

(U

S$/

tonn

e)

Source: www.palmoilhq.com

0

200

400

600

800

Jan-

07

Apr

-07

Jul-0

7

Oct

-07

Jan-

08

Apr

-08

Jul-0

8

Oct

-08

Jan-

09

Apr

-09

Jul-0

9

Oct

-09

Jan-

10

Apr

-10

CP

O R

otte

rdam

(U

S$/

tonn

e)

Source: Bloomberg

8

Palm Oil Products

Brand Manufacturer Sales (£m)

Warburtons Warburtons 709

Hovis Premier Foods 405

Cadbury Dairy Milk Cadbury 374

Kingsmill ABF 363

Persil Unilever 210

Flora Spreads Unilever 200

Galaxy Mars 185

Top Selling Products Containing Palm Oil

Galaxy Mars 185

Young’s Frozen Fish Young’s 184

Kit Kat Nestle 183

Mr Kipling Cakes Premier Foods 174

Wrigley’s Extra Wrigley 170

Birds Eye Poultry Birds Eye 130

Maltesers Mars 130

Mars Mars 123

Kellogg’s Special K Kellogg’s 122

Ginsters Ginsters 114

McVitie’s Digestive United Biscuits 106

Comfort Unilever 106

Goodfella’s Pizza Northern Foods 101 9

Project Locations

Plantations have excellent access to infrastructure and ports

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Land Position – Ideally Situated

• Substantial land position of 169,000 hectares highly suitable for development of oilpalm plantations

• 50 year lease ratified by the Government of Liberia

• Three separate plantations of varying stages of development

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• Brownfield sites qualify production for ‘Sustainable Palm Oil’ status for internationalexport markets

• Geographically well placed with established infrastructure, in close vicinity to deepwater ports and suitable labour availability

• Developed in tandem with active out growers programme; generating local support

“It is increasingly difficult to acquire arable plantation land in Asia and thus it is imperative that new frontiers be sought to meet increasing demand.”

Ahmad Zubir Murshid, Chief Executive of Sime Darby

Opportunity in Liberia

• New stable political regime under Ellen Johnson Sirleaf (US backed)

• Highly encouraging economic outlook with international investment legislation

• Significant private direct investments over the past 24 months include:• Arcelor Mittal – US$1.5bn iron ore mine development• Firestone Rubber – renewal of rubber estate concessions with expansion investment

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• Firestone Rubber – renewal of rubber estate concessions with expansion investment• China Union – 25 year US$2.6bn mineral development agreement• Sime Darby – 63 year oil palm/rubber agreement with development plan for 220,000ha

• 2010 GDP forecasted to grow at 11.2%; large agricultural sector

• Political risk remains but international initiatives in place to mitigate

“...China and the United States are investing in Liberia in a big way... We cannot wait until everything is perfect and then decide to invest. By then it will be too late.”

Ahmad Zubir Murshid, Chief Executive of Sime Darby (November 2009)

Achievements Since Listing

• Commenced reactivation of 3,000 hectares of existing oil palm plantations at PalmBay with a view to quickly establishing CPO production and generating early stagecash flow

• Confirmed the initial order of 220,000 oil palm seeds with Unipalm – the seeds havebeen specifically cultivated for the West African palm

• Commenced land preparation at Palm Bay and Butaw nurseries

• Shipment of 5tph palm oil mill in transit for the Palm Bay Plantation – deliveryexpected by end of July

• Embarked upon an active recruitment programme – workforce of circa. 200 people toimplement strategy

• £5 million finance from The Siva Group secured to accelerate developmentprogramme

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Palm Oil Processing Mill

• First palm oil processing mill in transit from Modipalm Engineering in Malaysia• Expected to be delivered to Liberia by the end of July• Mill will then be transported by road to Palm Bay Plantation

• Production of CPO will provide early cash flow• Produced from fruit from reactivation of 3,000 hectares at Palm Bay

• Throughput of five tonnes of fresh fruit bunches per hour• Throughput of five tonnes of fresh fruit bunches per hour

• Modipalm has more than 30 years experience manufacturing plant and machinery,equipment and parts for palm oil mills

Development Milestones

Initial 12 Months

• Ship first 5 tph palm oil mill from Malaysia• Increase local workforce to advance

development

• Reactivate 3,000 hectares at Palm Bay

• Establish nurseries at Palm Bay and Butaw

12-24 Months

• Field plant first oil palms out of nurseries

• Expand nurseries

• Commence operations at River Cess, the third plantation site

• Further land preparation for field planting

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• Prepare first 1,200 hectares of land for planting - 600 ha each at Palm Bay & Butaw

• Commission palm oil mill

• Sales of CPO

• Continual harvesting from reactivation

• Further develop associated & downstream infrastructure

• Detailed surveys of expansion areas

• Commence out growers program

Strategic targets: 50,000 hectares of oil palm planted within 10 years & CPO production of 250,000 tpa increasing to 100,000 ha planted - (current palm oil price $US790 CIF Rotterdam)

Sustainability

• Committed to developing projects in a sustainable manner and is a member ofRoundtable on Sustainable Palm Oil

• Existing plantations are based on previously logged land so will not causedegradation to primary forested areas in Liberia.

• Currently there are only 21 companies certified by RSPO - estimated that just 3% ofthe world’s palm oil production is sustainable

• Several large companies, including Sainsbury’s and Unilever, are now looking todevelop sustainable palm oil and are active with RSPO

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Peer Comparisons

Market Principal plantation

Land

Position Planted* Production Production FFB Yield CPO yield Other assets

Name Ticker

Cap

(GBP) location(s) (ha) (ha) (FFB, tonnes) (CPO, tonnes) (tonnes/ha) (tonnes/ha)

New Britain Palm OilNBPO

LN763.8 Papua New Guinea 85,000 48,907 1,039,826 335,528 21.3 6.7

Sugar cane,

pasture

Anglo-Eastern

Plantations

AEP

LN184.7 Indonesia & Malaysia 100,000 45,000 617,582 213,159 13.7 4.7

Rubber

plantationsPlantations LN plantations

MP Evans GroupMPE

LN176.3 Indonesia 70,466 25,700 562,800 106,400 21.9 4.1

Beef cattle,

Australia; real

estate, Malaysia

REA HoldingsRE/

LN169.6 Indonesia 114,818 26,907 490,178 118,357 18.2 4.4

Emerging coal

business

Asian PlantationsPALM

LN33.1 Malaysia 10,660 2,500 - - - -

Equatorial Palm OilPAL

LN10.0 Liberia 168,947 3,000 - - - -

Market data at close, 17 May

*Total planted area; may include both mature and immature land.

Contacts

Michael FrayneChairman

Equatorial Palm Oil Plc94 Jermyn Street

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London SW1Y 6JETel: +44 (0)20 7766 7500Fax: +44 (0)20 7766 7599

Mobile: +44 (0)7788 724 010mjf@epoil.co.uk

APPENDIX

Recent Press

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Recent Press

21

Recent Press

22

Recent Press

23Source: Starbiz - 10 November 2009

Recent Press

“As US deadlines for the banning of restaurant use of cooking oils containing trans-fats approaches, palm oil producers' confidence is rising that 2010 will deliver higherprices. Major grower IOI Corp Palm last week announced plantation expansions.Palm has been steady around US$715 a tonne for the past month or so, a stabilitywhich is attracting strong Pakistan and Middle East buying.”

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which is attracting strong Pakistan and Middle East buying.”

Source: Agriprods Nov 2009

Why Agriculture? Why Palm Oil?

• Import of CPO into West Africa is currentlyover 800,000 tonnes per annum anddemand continues to grow

• Palm oil has recently overtaken soya as themost produced edible vegetable oilworldwide

• In 2007, for the first time in history the globalurban population exceeded the ruralpopulation

0

0.1

0.2

0.3

0.4

0.5

0.6

Per Capita Arable Land for AgricultureSource: FAO, PotashcorpHa Arable Land per Person

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• If the same amount of food were to beproduced today, with the yields of 1961,then the world would require an additional970 million ha, or more than the total landarea of the United States

• In the last 40 years, the area of globalagricultural land has grown by 10%

• “It is increasingly difficult to acquire arableplantation land in Asia and thus it isimperative that new frontiers be sought tomeet increasing demand” - Ahmad ZubirMurshid, Chief Executive of Sime Darby

0

1950 1960 1970 1980 1990 2000 2010F 2020F

Palm Oil

• Extracted from the reddish palm fruit which is harvested and pressed into crude palmoil (‘CPO’)

• A healthy alternative to hydrogenated oils such as soya and sunflower oil

• Used in foods – margarine, instant noodles, chocolate and processed foods

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• 43 of top 100 food brands in UK contain palm oil

• Soap, detergents, cosmetics & pharmaceuticals

15 Year Old Plantation Fresh Fruit Bunch (FFB)

Individual Palm Fruit

World Palm Oil Demand

10%

11%

12%

13%

14%

15%

16%

17%

18%

40,000

45,000

50,000

55,000

60,000

65,000

70,000

75,000

80,000

An

nu

al G

row

th R

ate

, %

Co

nsu

mp

tio

n, m

T(0

00

's)World Palm Oil Demand

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2%

3%

4%

5%

6%

7%

8%

9%

10%

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

An

nu

al G

row

th R

ate

, %

Co

nsu

mp

tio

n, m

T(0

00

's)

Developed Economy Food Demand, mT (000s) Industrial & Residual Demand, mT (000s)

Developing Economy Food Demand, mT (000s) Annual Growth Rates Source: USDA, First Capitol Risk Management

Source: First Capitol Risk Management, LLC October 28, 2009

Palm Oil Demand in Africa 1996-08

3,000

3,500

4,000

4,500

5,000m

T (

10

00

's)

Palm Oil Demand in Africa 1996-2008

28

0

500

1,000

1,500

2,000

2,500

1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008

mT

(1

00

0's

)

Food Use Consumption Industrial ConsumptionSource: USDA FAS

Source: First Capitol Risk Management, LLC October 28, 2009

Stocks to Use & Price Forecast

$525

$600

$675

$750

$825

$900

$975

7%

8%

9%

10%

11%

12%

13%

Pri

ce, U

SD

/mT

Sto

cks

to U

se, %

29

$0

$75

$150

$225

$300

$375

$450

$525

0%

1%

2%

3%

4%

5%

6%

7%

Pri

ce, U

SD

/mT

Sto

cks

to U

se, %

Stocks to Use Ratio, % Low Price, USD/mT Base Price, USD/mT High Price, USD/mTSource: USDA, First Capitol Risk Management

Source: First Capitol Risk Management, LLC October 28, 2009

A Low Cost Producer

EPO expects to be among the lowest cost producers of edible oils in the worldin terms of USD per tonnes

240

460

M alaysianP alm Oil

USA So y Oil

30

Source: ASI Global, Oil World

230

240

165Indo nesiaP alm Oil

EP O InternalEst .

B razil So y Oil

P alm Oil

Out-grower Programme

A successful out-grower programme will significantly expand production in addition to company owned estates…

Company• Increases rates of land under production • Additional feedstock to complement company owned estates• Low relative capex & opex to company owned estates

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Dev Banks/Agencies

Liberia

• Access to alternate sources of funding via development banks• Technical support & lobbying also available

• Provides additional benefits to local communities• Increases project momentum & support (Gov & local community)• Broadens tax base & participation