20240129_CPRO_Laporan Informasi dan Fakta Material_31572242_lamp2.pdf

              PT Central Proteina Prima Tbk Paid Off Tranche A Debt

29 January 2024, Jakarta – PT Central Proteina Prima Tbk (IDX: CPRO/Perseroan/CP Prima) is pleased
to announce that the Company has completely paid off the Senior Facility Agreement (“SFA”) Tranche
A debt from the 2021 bond restructuring on 15 December 2023. Madison Pacific, the bondholders'
trustee, confirmed the settlement based on the letter sent to the Company on 17 January 2024. This
debt repayment was two years earlier than the debt maturity period, due to the improvement of the
Company's operating matrix from strong support from aquaculture farmers to growth in seafood
consumption, and the development of pet lover communities.

From January to September 2023, the Company managed to increase net profit by 12.5% to IDR
321.43 billion compared to the same period in the previous year. The Company's revenue rose by
9.5% year-on-year (YoY) to IDR 6.76 trillion driven by increased sales from the feed business and food
segment. Even though the Company's cost of goods sold increased by 11.8% to IDR 5.49 trillion, the
Company was able to record gross profit growth of 0.7% YoY to IDR 1.27 trillion.

However, several costs rose resulting from the Company's increased sales and continued expansion
in the processed food segment. The Company's selling expenses increased by 17.0% to IDR 315.57
billion and general and administrative expenses also increased slightly by 0.9% to IDR 347.29 billion
YoY. Based on YoY achievements, the Company is optimistic that 2023 sales growth target of around
IDR 9 trillion could be achieved.

After the repayment of SFA Tranche A, SFA Tranche B debt remains around US$16 million or the
equivalent of about IDR 250 billion with a maturity date in 2026.

In 2024, the Company remains focused on bolstering sales in the Company's two main business
segments, the processed seafood product, and the feed business, which the later includes
aquaculture feed and pet food. The disbursement of the Company's capex plan within the two main
business lines is the key to the Company's growth due to existing bottlenecks in the production
capacity. Early repayment of SFA debt reduces the Company's financial obligation, thus improving
cashflow to fund expansion capex to increase capacity in seafood processing and feed production.

Extraodinary General Meeting of Shareholders

The Company plans to hold an Extraordinary General Meeting of Shareholders ("EGMS") to seek
shareholders approval to accept the resignation of the Company's Commissioner, Mr. Michael
Nacson and Mr. Tobias Damek. The Commissioners were previously appointed at the EGMS in 2018
to carry out specific duties to oversee the Company's debt service after bond restructuring. After full
payment of SFA Tranche A, the Company respects the wishes of Mr. Nacson and Mr. Damek and plans
to hold the EGMS to obtain shareholder approval in accordance with applicable capital market
regulations regarding changes to the Company's management.



                                                      Board of Directors
                                                 PT Central Proteina Prima Tbk

This article is a translation from the original Indonesian version. In the event of different interpretation between the Indonesian version and
                      the English version (or any other foreign language version), the original Indonesian version prevails.