20240226_INCO_Laporan Informasi dan Fakta Material_31581003_lamp2.pdf

              MIND ID, VCL & SMM signed a share sale and purchase agreement
                 in the context of the Divestment of PT Vale Indonesia Tbk


Jakarta, February 26th, 2024 - PT Mineral Industri Indonesia (Persero) (“MIND ID”), together with
Vale Canada Limited (“VCL”) and Sumitomo Metal Mining Co., Ltd. (“SMM”) in Jakarta today,
Monday, February 26th, 2024, signed a share sale and purchase agreement for the divestment of
PT Vale Indonesia Tbk (“PT Vale” or the “Company”, IDX Ticker: INCO). This agreement is a
continuation of the Heads of Agreement signed on November 17 th, 2023. MIND ID together with
VCL and SMM have agreed to acquire PT Vale shares by MIND ID, amounting to 14% (fourteen
percent) of the total share ownership of PT Vale.

The agreement signing is a crucial step for PT Vale to fulfill its divestment obligations, as required
by the Mineral and Coal Mining Law. This is a necessary prerequisite for extending PT Vale's
Contract of Work through a Special Mining Business License (“IUPK”). Once the divestment is
completed, as stated after the signing of the Heads of Agreement, MIND ID and VCL will collaborate
to support PT Vale's business activities. With two committed shareholders, who have a strong
commitment to supporting the Company's success, PT Vale is expected to develop further
strategies to generate added value for all shareholders and stakeholders. This partnership will also
support Indonesia’s nickel industry downstream program, launched by the Government of Republic
of Indonesia.

The signing of this agreement was conducted by Hendi Prio Santoso, President Director of MIND
ID, Deshnee Naidoo from VCL, and Yusuke Niwa from SMM. The signing was directly witnessed
by Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Panjaitan, Minister of
State-Owned Enterprises Erick Thohir, Minister of Investment Bahlil Lahadalia, Deputy Minister of
State-Owned Enterprises Kartika Wirjoatmodjo, along with other high-ranking state officials.

“This is a historic moment for the Company. By signing the share sale and purchase agreement as
part of our divestment plan, we are one step closer to obtaining the extension of the Contract of
Work in the form of the IUPK. This will give us legal certainty for future business activities and
development. We are also pleased to have the support of our main shareholders, MIND ID and
VCL, in achieving our goals,” said PT Vale’s President Director and CEO, Febriany Eddy.

The parties involved are committed to completing the divestment transaction as per the brief
agreement while still complying with all applicable laws and regulations. Any further updates on the
divestment process or its completion will be provided in the future in accordance with applicable
legal provisions. In parallel, the process of extending the Contract of Work in the form of an IUPK
is currently underway and is expected to be completed soon.




PT Vale Indonesia Tbk
Jakarta: Sequis Tower, 20th Floor, Unit 6 & 7, Jl. Jend. Sudirman Kav. 71, Jakarta 12190, Indonesia. T (62) 21 524 9000 F.(62) 21 524 9020
Makassar: Jl. Somba Opu No. 281, Makassar 90113, Indonesia. T.(62) 411 366 9000 F.(62) 411 366 9020
Sorowako: Main Office Plant Site Sorowako, Luwu Timur 92984, Indonesia. T.(62) 475 332 9100 F.(62) 475 332 9575
www.vale.com/indonesia