Interim Management Statement

1 November 2012

Origo Partners PLC

Interim Management Statement for the three month period from

July 1, 2012 to September 30, 2012

This Interim Management Statement by Origo Partners Plc ("Origo" or "the Company") and its subsidiaries ("the Group") relates to the three month period from July 1, 2012 to September 30, 2012 ("the Period").

Highlights from the Period:

·; Unaudited net asset value of US$201.7 million compared to US$204.2 million for the period ending June 30, 2012

·; Unaudited net asset value per share of US$0.57 at the end of the Period compared to US$0.58 per share for the period ending June 30, 2012

·; Total investments of US$6.0 million

·; Net cash position of US$25.8 million

Chris Rynning, Origo's CEO, said:

"During Q3 we maintained our cautious stance on realisations and investments as asset prices remain constrained and concentrated on actively managing our portfolio, which continues to perform well. Reflecting the high quality nature of our investments, a number of our investee companies including Aqualyng, Halosource, RMWAH and Kincora Copper successfully raised capital in, or shortly after, the Period principally to fund the expansion or further development of their operations.

In the context of our current focus on prudent management of the existing portfolio and cash reserves we initiated a share buyback programme to repurchase shares at a discount to NAV within a limited time frame, which we believe will benefit shareholders.

We also significantly strengthened our Board by appointing a new Non-Executive Director, a Senior Independent Director and a Non-Executive Vice Chairman. The expertise and knowledge gained from these appointments will be instrumental in the future development of the business.

China reported a series of positive economic data in October 2012 which seems to indicate that the Chinese economy is rebounding from several quarters of slowing growth. I am optimistic that a recovery in China and stability in Mongolia will provide positive momentum to commodity prices and prove helpful drivers for Origo during the remainder of the year and going into 2013."

1. Resources and Commitments

At September 30, 2012, Origo had cash and cash equivalents of US$28.2 million. Payables to debtors and other liabilities equaled US$2.4 million (excluding USR fair value movements and provisions for performance incentives) leaving the Group with a net cash position of US$25.8 million.

After the Period end, Origo announced a share buyback programme of up to US$1.5 million. Ordinary shares in the Company will be repurchased at prices below the estimated Net Asset Value per share. The buyback programme is limited to a time frame of three months from the date of authorisation.

2. Unaudited Net Asset Value

No revaluation of the portfolio took place during the Period as per Origo's policy to reassess the value of the Company's assets on a bi-annual basis. However, adjusting to reflect the purchase and sale of investments, currency movements and market values in respect of quoted investments, the Company estimates unaudited net asset value at the end of the Period was US$201.7 million (US$0.57 per share). The equivalent NAV per share translated into British Sterling at the prevailing exchange rate at the end of the Period was 35 pence compared to 37 pence for the period ending June 30, 2012. The decrease in NAV was primarily due to the movement of fair market value of quoted investments (US$3.5 million) which is partially offset by favorable currency movements (US$2.3 million) and non-cash based charges relating to interest accrued (US$1.1 million) to the zero-dividend preferred shares.

3. Portfolio composition

In line with the Group's strategy, investments are made predominately in privately held companies across various sectors of China's economy, and in companies and assets with exposure to the Chinese market, with the objective of providing shareholders with above market returns, primarily through capital appreciation. Currently, the Group focuses on the following sectors: metals & mining, agriculture and cleantech.

As at September 30, 2012, the portfolio was carried at the aggregate value (excluding revaluations of unquoted portfolios) of US$233.8 million compared to US$229.7 million for the period ending June 30, 2012. The top ten investments represented 90 per cent of the fair value of the portfolio, with the top five investments accounting for 70 per cent.

Table 1: Top 10 Investments (US$ million)

* Legal & beneficial interests, excluding impact of outstanding options/warrants and any outstanding convertible instruments

** A private equity fund focusing on China's cleantech sectors, jointly formed and co-managed by the Group and Ecofin Limited

Reflecting the Group's strategy of investing in privately held companies, 94 per cent of the portfolio (in terms of fair value) at the end of the Period was invested in unquoted portfolio companies.

The Company's direct holdings in listed companies comprised stakes in HaloSource Inc. (LSE: HAL), Kincora Copper Limited (TSXV: KCC), Voyager Resources Ltd (ASX: VOR), SPT Energy Group Inc (HKE: SPT) and Hilong Holding Ltd (HKE: HILONG).

The Group also has indirect interests in other quoted investments through its investments in two funds managed by the Group - the China Commodities Absolute Return Ltd ("CCF") and the Mongolia Stock Exchange ("MSE") Liquidity Fund.

The weighted average holding period for the portfolio was 2.5 years, with 80 per cent of the Portfolio having been held for less than 3 years; 20 per cent having been held for 3 years or longer.

In terms of sectors, the composition of the portfolio at the end of Period comprised:

Metals & Mining (54 per cent)

Agriculture (25 per cent)

Cleantech (17 per cent)

Consumer, Technology and Media (4 per cent).

4. Investments

The Group invested a total of US$6.0 million to existing investee companies during the period, of which US$2.6 million were invested in the listed equities directly and US$0.1 million through CCF.

In July 2012, Origo participated in a private placement offering in Kincora subscribing for up to CAD2.5 million of a three year convertible note (the "Convertible Note"). The Convertible Note is due and payable three years from the date of issuance, and has a 8.7 per cent per annum interest rate, calculated and paid annually by the issuance of Kincora common shares; these being priced at the time of issuance in accordance with the policies of the TSX Venture Exchange.

In September 2012, the Company advanced the remaining initial commitment with the amount of US$2.5 million to China Cleantech Partners, L.P.

5. Portfolio Updates

Aqualyng Holdings AS successfully raised US$31.4 million in a fundraising from both existing and new investors, including the International Finance Corporation. Aqualyng Holdings AS intends to use the funds raised to further strengthen its position as one of the most dynamic players in the growing desalination markets in China and other Asian countries.

RMWAH raised AUD7.0 million from existing investors to provide greater financial flexibility and expand its export operations.

Kincora Copper released further drilling results which continue to confirm the large potential of the Bronze Fox copper deposit. After the Period end Kincora announced a capital raise of up to CAD6.0 million in a round led by Origo but supported by significant new investors to fund further exploration at its assets in Mongolia.

Halsource raised US$25.0 million from both new and existing shareholders in a deal led by Invesco Perpetual to fund a planned expansion of its Drinking Water and Environmental Water business segments.

ENDS