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PUBLIC STATEMENT

Official Statement on the Legal Dispute Involving Kenertec Power System

February 28, 2023

The legal dispute between Korindo Group subsidiary PT Kenertec Power System and Mighty Earth’s fiscal sponsors Rainforest Rescue (Rettet den Regenwald e.V.) and the Center for International Policy, Inc. has been settled.

In the previous hearing at the Regional Court of Hamburg, PT Kenertec Power System (Korindo Group) has defended itself against unfounded allegations made to its customers and potential customers.

Each party has mutually accepted the settlement proposed by the Court and ended the case without prejudice to each party and their legal standing.

As of now, Korindo Group has ceased operations of its oil palm plantations.

Signed,

Management of Korindo Group

The legal dispute between one of Korindo Group’s business units, namely PT Kenertec Power System, and Mighty Earth’s funders, namely Rainforest Rescue (Rettet den Regenwald e.V.) and the Center for International Policy, Inc., has been resolved.

Through the previous trial process at the Regional Court of Hamburg in Germany, PT Kenertec Power System (Korindo Group) has defended against an unfounded accusation letter addressed to customers of PT Kenertec Power System (Korindo Group). Each party has mutually accepted the settlement proposed by the court and ended the case without prejudice to each party or their legal standing.

As of now, Korindo Group is no longer doing business in the oil palm plantation sector.