20240223_CGAS_Laporan Informasi dan Fakta Material_31580665_lamp1.pdf

                                PRESS RELEASE
CGAS collaborates with GT Ladang Teknik and GreenFir to build LNG station,
aiming to reach a revenue of IDR 658 billion in 2024.

JAKARTA, PT Citra Nusantara Gemilang Tbk (CGAS), a company involved in trading and
distribution of natural gas, has announced its collaboration with PT GT Ladang Teknik and
Jianyang Greenfir New Energy Equipment Co Ltd (GreenFir) for the construction of an LNG
Station. The station will have a capacity of 1.5 million standard cubic feet per day (MMSCFD)
with an investment value of IDR 161.5 billion.

CGAS plans to commence the construction of a Liquefied Natural Gas (LNG) Station in the
Tambun Field Excavation Zone 7 Regional 2 in Pakis, Karawang, West Java, in the first quarter
of 2024. According to Andika Purwonugroho, the President Director of CGAS, the
groundbreaking ceremony will be held during this time.

Andika announced that CGAS will collaborate with GT Ladang Teknik and GreenFir, a Chinese
manufacturing company, for the construction of the LNG Station. The investment value for this
project is IDR 161.5 billion, and have a capacity of 1.5 MMSCFD. Andika announced this on
Friday (23/2) at the Sultan Hotel - Jakarta.

Andika predicts that the Company's sales value after the LNG Station starts operating in the
first year will be around USD 8.7 million (equivalent to IDR 135 billion per year). He estimates
that CGAS's revenue will increase by 76.4 percent (year-on-year) to approximately IDR 658
billion this year, with a projected net profit rise of 200.8 percent (y-o-y) to around IDR 36.7
billion.

It is estimated that the sales volume for this year will reach 82,000,711 standard cubic meters
(Sm3), which is an increase of 81.3 percent compared to the sales volume in 2023. Andika
mentioned that this year, CGAS performance improvement is also attributed to several CNG
Station projects in Grobogan-Central Java, Manyar-East Java, and Majalengka-West Java.

According to Andika, there is great potential for CGAS - a company that trades and distributes
natural gas - to increase its performance, which would result in added benefits for its
shareholders in the form of dividends. The company has forecasted an estimated profit growth
of IDR 12.2 billion by 2023 and intends to distribute dividends to shareholders equivalent to
30% of the net profit.

 The estimate for CGAS net profit achievement in 2023 is supported by projected revenue of
IDR 373 billion, with an estimated sales volume of 45 million Sm3. We are optimistic that
financial and operational performance this year will experience positive growth, said Andika.