Company Ephraim Resources Limited

Ephraim Resources Limited is engaged in the business of agricultural biogenetics research and experimentation, licensing and consultancy. The Company focuses on nipah palm breeding, tissue culture, cultivation and plantation, and the conversion of sap from the nipah palm to sugar and ethanol. The Company operates through two segments: Australia and Indonesia. It has developed a methodology to develop nipah palm fit for cropping on an industrial scale and optimize the use of degraded land for nipah palm plantations in Indonesia, and to produce sugar. The Company, through its subsidiary, PT First Flower (PTFF), has completed plantation trials and has rights over 11,800 hectares of land for nipah palm cultivation. PTFF has land use rights in the Meranti District, Riau province for over 8,000 hectares for non-wood products; in the Tanah Laut District, South Kalimantan province for over 1,200 hectares, and in the Kota Baru District, South Kalimantan province for over 2,600 hectares.