ofi expands its innovation capabilities with a new Customer Solutions Center in Singapore

Solving customer challenges

A team of culinary and pastry chefs, food scientists, quality, regulatory and category experts will help ofi’s customers develop new products and applications using ingredients from ofi’s portfolio of cocoa, coffee, dairy, nuts and spices. These ingredients are highly complementary and can be combined into recipes and formats that meet consumer trends for exciting new flavors, health benefits, convenience, and plant-based solutions. Food quality and safety are at the heart of the CSC with its six laboratories, along with pilot facilities which can test whether a new concept can be produced in a large-scale manufacturing environment.

The Singapore CSC will be well integrated with ofi's:

• Global network of 15 innovation centers and its Customer Solution Centers in Chicago, Amsterdam and Bangalore.
• On-the-ground sourcing and buying teams in major and specialty growing regions.
• Extensive sustainability programs with partners that support farmers, reduce environmental impact and provide traceability.

Helping to commercialize regional trends

The APAC region was recently named the largest segment of the $6.4B USD global food and beverage industry.¹ At the inauguration, the ofi CSC team showcased concepts that can contribute to general wellbeing benefits and meet top consumer trends for the following:

• Plant-forward products – such as the Tomyum snack bar. The concept utilizes honey as a sugar substitute, and the ofi nut butter can support recipes looking for protein and other nutritional benefits found in nuts.
• Amplified sensory experiences – such as Pandan Snow, inspired by a well-known Taiwanese snack known as snow crepe flakes. They are filled with crunchy ofi nuts such as pistachio, cashew and almond.
• Cleaner label formulations – such as Chiz Leleh, a type of gelato that combines filled milk powder, instant coffee and cocoa powder, ingredients easily recognized by consumers.

¹ Research and Markets, $6.3 Billion Worldwide Food and Beverages Industry to 2031 - Asia Pacific was the Largest Region in 2021, https://www.globenewswire.com/news-release/2022/08/25/2504314/28124/en/6-3-Billion-Worldwide-Food-and-Beverages-Industry-to-2031-Asia-Pacific-was-the-Largest-Region-in-2021.html

Notes to Editors:

About ofi

olam food ingredients (“ofi”) is a new operating group born out of Olam. ofi offers sustainable, natural, value-added food products and ingredients so that consumers can enjoy the healthy and indulgent products they love. It consists of industry-leading businesses of cocoa, coffee, dairy, nuts, and spices. ofi has built a unique global value chain presence including its own farming operations, farm-gate origination, and manufacturing facilities. ofi partners with customers, leveraging its complementary and differentiated portfolio of ‘on-trend’ food products, to co-create solutions that anticipate and meet changing consumer preferences as demand increases for healthier food that’s traceable and sustainable.

To subscribe to the ofi newsroom and for more information on ofi please visit www.ofi.com

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About Olam Group

Olam Group is a leading food and agri-business supplying food, ingredients, feed and fibre to 20,900 customers worldwide. Its value chain spans over 60 countries and includes farming, processing and distribution operations, as well as a global network of farmers. By re-imagining global agriculture and food systems, Olam Group aims to address the many challenges involved in meeting the needs of a growing global population, while achieving a positive impact for farming communities, our planet and all our stakeholders.

Headquartered and listed in Singapore, Olam currently ranks among the top 30 largest primary listed companies in terms of market capitalisation on SGX-ST.

Since June 2020, Olam Group has been included in the FTSE4Good Index Series, a global sustainable investment index series developed by FTSE Russell, following a rigorous assessment of Olam’s supply chain activities, impact on the environment and governance transparency. The FTSE4Good Index Series identifies companies that demonstrate strong Environmental, Social and Governance (ESG) practices and is used by a variety of market participants to create and assess responsible investment funds.

More information on Olam can be found at www.olamgroup.com

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This announcement does not constitute or form part of an offer for sale or solicitation of an offer to purchase or subscribe for securities in the United States, Canada, Australia, South Africa, Japan or any other jurisdiction and the securities referred to herein have not been registered under the securities laws of any such jurisdiction. The ordinary shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold, directly or indirectly, in the United States, absent registration under or an exemption from, or transaction not subject to, the registration requirements of, the Securities Act. No public offering of securities is being made in the United States or in any other jurisdiction.