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                                PT Japfa Comfeed Indonesia Tbk
                                       Berkedudukan di Jakarta Selatan/
                                          Domiciled in South Jakarta
                                        (“Perseroan”/the “Company”)


                                                                          Unofficial English Translation

      KETERBUKAAN INFORMASI                             THE DISCLOSURE OF INFORMATION
TENTANG PERSETUJUAN (MANDAT) UNTUK                     ON MANDATE FOR SHARES BUYBACK
     PEMBELIAN KEMBALI SAHAM
Keterbukaan Informasi ini diterbitkan pada        This Disclosure of Information is announced on
tanggal 26 Pebruari 2024.                         February 26, 2024.

A. Pendahuluan                                    A. Introduction

Perseroan bermaksud mendapatkan mandat            The Company intends to seek a mandate from the
(persetujuan) dari pemegang saham, berkaitan      shareholders to conduct buyback of the
dengan rencana Perseroan untuk melakukan          Company’s shares which have been issued and
pembelian kembali atas saham-saham yang telah     listed on PT Bursa Efek Indonesia (Indonesia
dikeluarkan oleh Perseroan dan tercatat pada PT   Stock Exchange “IDX”) (“Buyback”).
Bursa Efek Indonesia (“Bursa”) (“Buyback”).


Meskipun mandat Buyback akan memberi              Although the Buyback mandate would authorize
wewenang kepada Perseroan untuk membeli           the Company to purchase or acquire up to a
kembali hingga persentase tertentu dari saham     specified percentage of the Company’s issued
yang      diterbitkan  Perseroan,     sebelum     shares, given that the Company will always
melaksanakan Buyback, Perseroan tetap akan        consider the internal as well as external condition,
memperhatikan baik keadaan internal maupun        there is no certainty that the Company will
eksternal, sehingga belum ada kepastian bagi      purchase any or all of the shares permitted to be
Perseroan untuk melakukan pembelian satu atau     acquired by it under the Buyback.
semua saham yang diizinkan berdasarkan
Buyback.

Buyback akan dilaksanakan dengan mengacu          Buyback shall be performed in compliance with the
kepada ketentuan yang diatur dalam Peraturan      Indonesian Financial Services Authority (OJK)
Otoritas Jasa Keuangan (OJK) Nomor 29 Tahun       Regulation Number 29 Year 2023               dated
2023 tanggal 29 Desember 2023 tentang             December 29, 2023 concerning Shares Buyback
Pembelian Kembali Saham yang dikeluarkan oleh     by Public Company (“POJK 29/2023”). POJK
Perusahaan Terbuka (“POJK 29/2023”). POJK         29/2023 has just been issued and has replaced the
29/2023 baru saja diterbitkan dan menggantikan    old buy back regulation. The main difference is on
peraturan pembelian kembali yang lama.            prohibition for carrying out shares buyback should
Perbedaan utama terletak pada larangan untuk      old buy back (treasury) shares have not been fully
melakukan pembelian kembali saham selama          utilized by the Company.
semua hasil pembelian kembali sebelumnya
Page 2
(saham treasury) belum digunakan seluruhnya
oleh Perseroan.

B. Perkiraan Jadwal, Biaya dan Jumlah Nilai B. Estimated Schedule, Cost and Total Nominal
   Nominal                                     Value

Jumlah mandat Buyback yang akan dimintakan                                                          The Buyback mandate sought is a maximum 1.5%
persetujuan dari pemegang saham adalah                                                              of all Company’s issued shares subject to a
maksimum 1,5% dari seluruh saham yang telah                                                         maximum aggregate purchase consideration of
ditempatkan Perseroan dengan maksimum dana                                                          Rp350,000,000,000 (three hundred fifty billions
sebesar Rp350.000.000.000 (tiga ratus lima puluh                                                    Rupiah).
milyar rupiah).

Modal Dasar, Modal ditempatkan/disetor                                                              The Company’s Authorized, Paid-up Capital and
Perseroan serta kepemilikan saham sebelum                                                           shareholding before and after Buyback (as of
dan sesudah Buyback (per 31 Desember 2023)                                                          December 31, 2023), as illustration, if the
sebagai ilustrasi, bila Perseroan memutuskan                                                        Company decides to exercise it's Buyback
untuk melaksanakan mandat Buyback secara                                                            mandate in full, will be as follows:
penuh, sebagai berikut:

                                                                                                            Capital                         Number of Shares                    Nominal Value (Rp.)
       Modal                        Jumlah Saham                       Nilai Nominal (Rp.)


                                                                                                           Authorized Capital
       Modal Dasar                                                                                         Seri A Share                                   15,000,000,000               3,000,000,000,000
       Saham Seri A                              15.000.000.000              3.000.000.000.000             Seri B Share                                   85,000,000,000               3,400,000,000,000
       Saham Seri B                              85.000.000.000              3.400.000.000.000             Total                                         100,000,000,000               6,400,000,000,000
       Total                                    100.000.000.000              6.400.000.000.000             Subscribed and Paid-up Capital
       Modal Ditempatkan/disetor Penuh                                                                     Seri A Share                                    8,814,985,201               1,762,997,040,200
       Saham Seri A                               8.814.985.201              1.762.997.040.200             Seri B Share                                    2,911,590,000                 116,463,600,000
       Saham Seri B                               2.911.590.000                116.463.600.000             Total                                          11,726,575,201               1,879,460,640,200
       Total                                     11.726.575.201              1.879.460.640.200


                                                                                                                                    Shareholding Before Buyback            Shareholding After Buyback
                                                                                                     No.       Shareholder
                              Sebelum Pembelian Kembali           Sesudah Pembelian Kembali                                         Number of Shares             %         Number of Shares        %
 No.    Pemegang Saham
                              Jumlah Saham         %              Jumlah Saham         %             1     Japfa Ltd                   6,500,176,516             55.43        6,500,176,516       55.43
  1    Japfa Ltd                6.500.176.516     55,43             6.500.176.516      55,43               Public (each
       Masyarakat (Masing-                                                                           2     Ownership <5%)              5,127,493,385             43.73        4,951,594,757       42.23
  2    masing Kepemilikan       5.127.493.385          43,73        4.951.594.757        42,23
       <5%)                                                                                          3     Buyback shares                   98.905.300            0.84          274,803,928           2.34
       Saham yang dibeli
  3    Kembali
                                   98.905.300           0,84          274.803.928            2,34
                                                                                                           Total                      11,726,575,201           100.00        11,726,575,201      100.00
       Total                   11.726.575.201         100,00       11.726.575.201       100,00




Jika      Perseroan     memutuskan        untuk                                                     If the Company decides to utilize the Buyback
memanfaatkan mandat Buyback, Direksi akan                                                           mandate, the Board of Directors will consider all
mempertimbangkan semua faktor keuangan dan                                                          relevant financial and non-financial factors (for
non-keuangan yang relevan (misalnya kondisi                                                         example, share market conditions and the
pasar saham dan kinerja saham) serta                                                                performance of shares) as well as the availability
ketersediaan sumber internal dan/atau eksternal.                                                    of internal and/or external resources. The Board of
Direksi tidak akan melaksanakan Buyback                                                             Directors does not propose to exercise Buyback in
apabila hal tersebut, sedemikian rupa dapat                                                         a manner and to such extend that the Company’s
menyebabkan likuiditas dan kondisi operasional                                                      liquidity and operation would be materially
Perseroan akan terpengaruh secara material.                                                         affected.

Harga saham Buyback akan ditentukan                                                                 The share price of Buyback shall be determined in
berdasarkan ketentuan yang diatur dalam POJK                                                        accordance with POJK 29/2023.
29/2023.
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Merujuk pada ketentuan pasal 19 POJK 29/2023        With reference to article 19 POJK 29/2023 as
sebagaimana tersebut diatas, Perseroan hanya        mention above, the Company may only exercise its
dapat melaksanakan Mandate Buyback setelah          Buyback mandate only after all the old buy back
semua pembelian saham sebelumnya (saham             (treasury) shares have been fully utilized by the
treasury) telah digunakan seluruhnya oleh           Company. On the date of this announcement, old
Perseroan. Pada tanggal pengumuman ini,             buy back shares kept in treasury are 98,905,300
jumlah saham hasil pembelian kembali lama yang      shares.
disimpan dalam treasury adalah 98.905.300
saham.

Periode Buyback akan dimulai setelah semua          Buyback period shall be started after all the old
pembelian saham sebelumnya (saham treasury)         buy back (treasury) shares have been fully utilized
telah digunakan seluruhnya oleh Perseroan           by the Company until April 3, 2025 (one year since
sampai tanggal 3 April 2025 (satu tahun sejak       the approval from the shareholders in general
Perseroan memperoleh persetujuan dari               meeting of shareholders).
pemegang saham dalam Rapat Umum
Pemegang Saham Luar Biasa Perseroan).

Buyback akan dilakukan baik melalui Bursa           Buyback will be exercised either through IDX or
maupun di luar Bursa. Dalam hal Buyback akan        off-market. If the Buyback is to be utilized through
dilaksanakan melalui Bursa, Perseroan akan          on-market purchases, the Company shall appoint a
menunjuk perantara pedagang efek yang               registered stockbroker in IDX.
terdaftar di Bursa.

C. Pertimbangan dan Alasan                          C. Consideration and Background

Alasan untuk Perseroan melakukan Buyback            The rationale for the Company to undertake the
adalah sebagai berikut:                             Buyback is as follows:

1. Dalam mengelola        usaha   Perseroan,        1. In managing the business of the Company,
   manajemen      selalu   berupaya    untuk           management will strive to increase
   meningkatkan nilai Pemegang Saham, antara           Shareholders’ value by improving, inter alia,
   lain dengan meningkatkan ROE Perseroan.             the ROE of the Company. In addition to growth
   Selain pertumbuhan dan perluasan usaha,             and expansion of the business, Buyback may
   Buyback dapat dianggap sebagai salah satu           be considered as one of the ways through
   cara, melalui mana ROE Perseroan dapat              which the ROE of the Company may be
   ditingkatkan;                                       enhanced;

2. Mandat untuk melaksanakan Buyback akan           2. The Buyback mandate will provide the
   memberikan fleksibilitas yang lebih besar bagi      Company with greater flexibility in managing its
   Perseroan dalam mengelola modal dan                 capital and maximizing returns to its
   memaksimalkan       pengembalian       kepada       Shareholders. To the extent that the Company
   Pemegang Saham. Sepanjang Perseroan                 has capital and surplus funds which are in
   memiliki modal dan dana lebih, dibanding            excess of its financial needs, taking into
   kebutuhan keuangan Perseroan, dan dengan            account its growth and expansion plans, the
   mempertimbangkan pertumbuhan             serta      Buyback mandate will facilitate the return of
   rencana ekspansi, mandat Buyback akan               excess cash and surplus funds to
   memfasilitasi pengembalian kelebihan kas            Shareholders in an expedient, effective and
   dan dana bagi Pemegang Saham dengan                 cost-efficient manner;
   cara menguntungkan, efektif dan efisien;
Page 4
3. Mandat Buyback akan memberi Perseroan          3. The Buyback mandate will provide the
   fleksibilitas untuk melakukan Buyback setiap      Company the flexibility to undertake share
   saat, tergantung pada kondisi pasar, selama       repurchases at any time, subject to market
   periode Mandat Buyback; dan                       conditions, during the period when the
                                                     Buyback Mandate is in force; and

4. Saham yang dibeli kembali oleh Perseroan       4. Shares which are purchased by the Company
   berdasarkan mandat Buyback dan disimpan           pursuant to the Buyback mandate and held in
   dalam treasury dapat digunakan, sepanjang         treasury (“Buyback Shares”) may, inter alia,
   diizinkan oleh hukum yang berlaku, antara         to the extent permitted by applicable law, be
   lain, dialihkan untuk tujuan atau sesuai          transferred for the purposes of or pursuant to
   dengan skema saham yang dilaksanakan oleh         share schemes implemented by the Company,
   Perseroan, termasuk PT Japfa Performance          including the “PT Japfa Performance Share
   Share Plan. Penggunaan saham treasury             Plan”. The use Buyback Shares in lieu of
   sebagai pengganti penerbitan saham baru,          issuing new shares would, inter alia, mitigate
   antara lain akan mengurangi dampak dilusi         the dilution impact of share grants under the
   terhadap Pemegang Saham yang ada atas             PT Japfa Performance Share Plan on existing
   penghargaan saham berdasarkan PT Japfa            shareholders.
   Performance Share Plan tersebut.


Sesuai ketentuan yang berlaku, Perseroan dapat    Subject to the prevailing regulations, the Company
menggunakan saham Buyback tersebut untuk          may use such Buyback Shares for the following
tujuan berikut, termasuk namun tidak terbatas     purposes, including but not limited to:
pada:

a. penjualan kembali atau dijual diluar pasar     a. selling back (refloat) the shares by on-market
   kepada investor atau pemegang saham               sale or by off-market sale to investors and/or
   Perseroan;                                        existing shareholders;
b. pembiayaan hutang yang bersifat ekuitas        b. debt to equity financing, such as exchangeable
   seperti obligasi yang dapat ditukarkan;           bonds;
c. ESOP termasuk namun tidak terbatas PT          c. ESOP including without limitation the PT Japfa
   Japfa Performance Share Plan;                     Performance Share Plan;
d. pengurangan modal, atau.                       d. reduce capital, or
e. keperluan lainnya sepanjang diijinkan oleh     e. any other purpose permitted under prevailing
   ketentuan yang berlaku.                           regulations.

Metode yang digunakan untuk Buyback adalah        The Company will use the cost method accounting
metode pencatatan akuntansi biaya untuk saham     for Buyback.
Buyback.


D. Dampak Pembelian Kembali Terhadap              D. Impact of Buyback on Financial Statement
   Laporan Keuangan dan Pendapatan                    and the Company’s Income
   Perseroan

Apabila mendapatkan persetujuan pemegang          In the event the Company obtains approval from
saham, dan Perseroan melaksanakan mandat          the shareholders and will exercise its mandate,
Page 5
Buyback, Buyback akan mengurangi aset dan           Buyback will reduce the asset and equity of the
ekuitas Perseroan, namun demikian Perseroan         Company, however, the Company convinced that
tetap berkeyakinan bahwa pelaksanaan Buyback        the exercise of Buyback shall not materially impact
tersebut    tidak    akan   secara      material    the Company’s business or financial position.
mempengaruhi kondisi usaha atau kondisi             Further that, the Buyback will not cause the net
keuangan Perseroan. Lebih dari pada itu,            assets of the Company to become less than the
Buyback tidak akan menyebabkan kekayaan             subscribed capital plus the mandatory reserve
bersih Perseroan menjadi lebih kecil dari modal     already set aside as required by article 37 (1) (a)
yang ditempatkan ditambah cadangan wajib yang       Company Law No 40 Year 2007.
sudah disisihkan sebagaimana dipersyaratkan
oleh pasal 37 (1) (a) Undang-Undang No 40
Tahun 2007;

Analisa Keuangan                                    Financial Analysis

Ilustrasi dampak maksimal pada pendapatan,          The illustrative maximum impact on earnings
total aset dan ekuitas serta proforma dari Return   balance and on total asset and equity as well as
on Equity (“ROE”), Return on Asset (“ROA”) dan      the proforma of Return on Equity (“ROE”), Return
Earning Per Share (“EPS”), dihitung berdasarkan     on Asset (“ROA”) and Earning Per Share (“EPS”)
Laporan Keuangan Konsolidasi pada 31                calculated based on the Consolidated Financial
Desember 2023 akan diumumkan pada saat atau         Statement as of December 31, 2023 will only be
setelah pengumuman Laporan Keuangan                 announced on or after the announcement of the
Konsolidasi Perseroan tahun 2023 dan                Company’s consolidated full-year results and will
merupakan informasi tambahan atas Keterbukaan       be as additional information to this Disclosure of
Informasi ini.                                      Information.


E. PELAKSANAAN RAPAT UMUM PEMEGANG                  E. EXTRAORDINARY GENERAL MEETING
   SAHAM LUAR BIASA                                    OF SHAREHOLDERS

Untuk mendapatkan persetujuan dari pemegang         In order to obtain the approval from the
saham, Perseroan akan melaksanakan Rapat            shareholders, the Company will convene an
Umum Pemegang Saham Luar Biasa pada hari            EGMS on Wednesday, April 3, 2024.
Rabu, tanggal 3 April 2024.

           Jakarta, 26 Februari 2024                          Jakarta, February 26, 2024
              Direksi Perseroan                           Board of Directors of the Company

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Names mentioned 17 people and organisations named in the text · linked when the evidence is strong

linked org Japfa Comfeed Indonesia Tbk p.1 ×2
possible org PT Bursa Efek Indonesia p.1 ×2
possible org Otoritas Jasa Keuangan p.1
possible org Japfa Ltd p.2 ×3
unresolved org Financial Services Authority p.1
unresolved org relevant financial and non-financial factors (for p.2
unresolved — example, share market conditions p.2
unresolved org and/or external resources. p.2
unresolved — does not propose to exercise Buyback in p.2
unresolved — a manner and to such extend that p.2
unresolved — liquidity and operation would be materially p.2
unresolved — affected. p.2
unresolved — accordance with POJK 29/2023. p.2
unresolved org PT Japfa Performance p.4
unresolved org PT Japfa Performance Share Share Plan. Penggunaan p.4
unresolved org PT Japfa Performance Share Plan p.4
unresolved org PT Japfa Japfa Performance Share Plan p.4

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