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Investor Presentaiton

Forest Degradation due to logging Scenario 25 23 Sustainable Logging -BAU 21 -Miti-1 19 -Miti-2 17 15 22222 43 Rate of logging (Mm3/yr) 13 11 9 7 5 2007-2009 2010-2011 2012-2015 2016-2020 Assumption: Historically, amount of illegal logging is the same as legal logging ☐ Rate of from illegal logging decrease linearly with the establishment of FMU ■ BAU: Amount of logged wood decrease slightly following the FMU establishment 2021-2025 ■ Mitigation: Depend on the successfulness of establishing FMU, Human resources and fund Miti1: same as BAU but FMUS function effectively, Miti2: All FMUs established

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