20260406_RATU_Rencana Transaksi Material Dengan Persetujuan RUPS_32067857_lamp3.pdf

DEFINITIONS AND TERMS

“Affiliate”

“Conflict of Interest”

“Indonesia Stock
Exchange” or “IDX”

“Board of
Commissioners”

“Board of Directors”

“Guarantee to
Creditors”

“Corporate Guarantee
to Seller”

“Disclosure of
Information”

Means:

a. a familial relationship by marriage or descent up to the
second degree, ecither horizontally or vertically,

b. relationship between a party and its employees, directors,
or commissioners,

Cc. arclationship between two companies having one or more
members of the same board of directors or board of
commissioners,

d. a relationship between a company and a party that
directly or indirectly controls or is controlled by such
company,

Cc. a relationship between two companies that are directly or
indirectly controlled by the same party, or

Ia relationship between a company and its major
shareholders.

A situation where there is a divergence between the economic
interests of a public company and the personal economic
interests of members of the Board of Directors, members of
the Board of Commissioners, major shareholders, or
controlling parties, which may be detrimental to the public
company.

A stock exchange as referred toin Law No. 80f 1995 on Capital
Markcts (as amended), in this case operated by PT Bursa Efek
Indonesia domiciled in Jakarta.

The corporate organ responsible for general and/or specific
supervision in accordance with the articles of association and
for providing advice to the Board of Directors.

The corporate organ vested with fall authority and
responsibility for managing the company for the benefit of the
company in accordance with its purposes and objectives, as
well as representing the company both within and outside the
court in accordance with the articles of association.

A corporate guarantee and cash deficit guarantee provided by
the Company to secure the obligations of PT REM in
connection with the planned financing facility for the
Acguisition Transaction by PT REM.

A corporate guarantee provided by the Company to secure the
obligations of PT REM in connection with the Acguisition
Transaction by PT REM as stipulated under the Share Sale
and Purchase Agreement.

This disclosure of information provided to the Company's
shareholders for the purpose of complying with POJK No.
17/2020.

“KJPP FDI&R”

“Company's
Consolidated Financial
Statements”

“Fairness Opinion
Report dated 30 March
2026”

“MOL”

“Financial Services

Authority”, “FSA” or
“OJK?

“Shareholders”

“Controller”

“Appraiser”

“Novation Agreement”

Ferdinand, Danar, Ichsan & Rekan Public Appraisal Services
Office (FDI&R), acting as an Appraiser duly licensed based on
the Decree of the Minister of Finance No. 2.22.0176 KMK
460/KM.1/2022 dated 21 April 2022 and registered as a
capital market supporting professional services firm with the
OJK pursuant to the Certificate of Registration of Capital
Market Supporting Professionals No. STTD.PB-47/PJ-
1/PM.021/2024.

The Company's Interim Consolidated Financial Statements
for the period ended 30 November 2025, which have been
audited by Public Accounting Firm Paul Hadiwinata, Hidajat,
Arsono, Retno, Palilingan & Rekan as set forth in Report No.
PHHARP-AL/039/RD/AD/2026 dated 16 March 2026, with
an ungualified opinion in all material respects.

Fairness Opinion Report No. 00063/2.0176-
00/BS/02/0213/ 1/111/2026 dated 30 March 2026, issued by
KJPP FDI&R to provide an opinion on the fairness of the
Acguisition Transaction Series and the provision of Guarantee
to Creditors, for the purpose of complying with POJK No.
17/2020.

The Minister of Law of the Republic of Indonesia, formerly
known as the Minister of Law and Human Rights of the
Republic of Indonesia. (MOLHR?).

An independent authority whose functions, duties, and
powers include regulation, supervision, examination, and
investigation in the capital markets, insurance, pension
funds, financing institutions, and other financial services
sectors, as referred to in Law No. 21 of 2011 on the Financial
Services Authority, as amended.

Parties that hold beneficial interests in the Company's shares,
whether in scrip form or in collective custody, which are
deposited and administered in securities accounts with the
Indonesian Central Securities Depository, and are recorded in
the Company's Register of Sharcholders maintained by the
Share Registrar appointed by the Company.

A party that, directly or indirectly:

a. Owns more than 504 (fifty percent) of the total issued and
fully paid-up shares with voting rights in a company: or

b. has the ability to determine, directly or indirectly and by
any means, the management and/or policies of a
company.

An individual who, by virtue of their expertise, carries out
valuation activities in the capital market.

The Novation Agreement dated 24 December 2025, entered
into and executed by and among PT REM as the New Lender,
SMS Offshore Overseas Limited as the Original Lender, SMS
Development Limited as the Borrower, and Cosimo Borrelli of
Kroll HK Limited as the receiver of SMS Offshore Overseas
Limited (each as defined in the Novation Agreement), the
execution of which has been disclosed by the Company to its

“Company”

“Controlled Company”

“POJK No. 15/2020”

“POJK No. 17/2020”

“POJK No. 42/2020”

“Share Sale and
Purchase Agreement”
or “SSPA”

“PT REI”

“PT REM”

“Rp” or “Rupiah”

“GMS”

Shareholders through a disclosure of material information
dated 24 December 2025.

This Novation Agreement was entered into in connection with
the transfer (novation) of all rights, interests, and obligations
of SMS Offshore Overseas Limited to PT REM, under a
shareholder loan agreement dated 24 December 2025 between
SMS Offshore Overseas Limited and SMS Development
Limited.

PT Raharja Energi Cepu Tbk, a public company domiciled in
South Jakarta, whose shares are listed on the Indonesia Stock.
Exchange, and established under the laws of the Republic of
Indonesia.

A company that is directly or indirectly controlled by a public
company as defined under POJK No. 42/2020.

OJK Regulation No. 15/POJK.04/2020 on the Planning and
Implementation of General Meetings of Shareholders of Public
Companies.

OJK Regulation No. 17/POJK.04/2020 on Material
Transactions and Changes in Business Activities.

OJK Regulation No. 42/POJK.04/2020 on Affiliated
Transactions and Conflict of Interest Transactions.

The Share Sale and Purchase Agreement dated 25 December
2025, entered into and executed by and among SMS Offshore
Overseas Limited as the Seller, Cosimo Borrelli of Kroll HK
Limited as the Sales Agent, PT REM as the Purchaser, the
Company as the Purchaser's Guarantor, and OCP Asia Fund
IV and OCP Asia Fund V as the New Lenders (each as defined
in the SSPA), the execution of which has been disclosed by the
Company to its Shareholders through a disclosure of material
information dated 25 December 2025.

The SSPA was entered into in connection with the acguisition
of 100 (one hundred percent) of the shares in SMS
Development Limited by PT REM.

PT Raharja Energi Indonesia, a limited liability company
domiciled in Central Jakarta, established under the laws of
the Republic of Indonesia, of which 99 (ninety-nine percent)
of its shares are owned by the Company. Accordingly, PT REI
isa Controlled Company of the Company.

PT Raharja Energi Madura, a limited liability company
domiciled in South Jakarta, established under the laws of the
Republic of Indonesia, of which 514 (fifty-one percent) of its
shares are owned by PT REI. Accordingly, PT REM is an

indirectly Controlled Company of the Company through PT
REI.

Indonesian Rupiah, being the lawful currency of the Republic
of Indonesia.

General Meeting of Shareholders of the Company.

4

“EGMS” : EExtraordinary General Meeting of Shareholders of the
Company.

“Affiliated Transaction” : Any activity and /or transaction conducted by a public
company or its controlled company with an Affiliate of such
public company or an Affiliate of members of the Board of
Directors, Board of Commissioners, major shareholders, or
controllers, including any activity and/or transaction
conducted by a public company or its controlled company for
the benefit of such Affiliates.

“Acguisition 1 The acguisition of 100Y6 (one hundred percent) of the shares
Transaction by PT in SMS Development Limited by PT REM, carried out through
REM” fi) the Novation Agreement and (ii) the Share Sale and

Purchase Agreement.

“Material Transaction” 1 Any transaction carried out by a public company or its
controlled company that mects the value threshold as
stipulated under POJK No. 17/2020.

“Company Law” 1 Law No. 40 of 2007 concerning Limited Liability Companies,
as amended.

“USD” 2 United States Dollar, being the lawful currency of the United
States of America.

PENDAHULUAN

The information set out in this Disclosure of Information has been prepared to comply with
POJK No. 17/2020 in connection with several Material Transactions to be carried out by (i)
PT REM, a Controlled Company of the Company, and (ii) the Company.

The Material Transaction to be undertaken by PT REM is the Acguisition Transaction by
PT REM, while the Material Transactions to be undertaken by the Company consist of
() the provision of a Corporate Guarantee to the Seller: and (ii) the provision of a
Guarantee to Creditors.

The Acguisition Transaction by PT REM and the provision of the Corporate Guarantee to the
Seller are hereinafter collectively referred to as the “Acguisition Transaction Series.”

The Board of Directors and the Board of Commissioners of the Company, individually and
jointly, state that the Acguisition Transaction Series and the provision of the Guarantee to
Creditors constitute Material Transactions, as the value of such transactions exceeds 204,
(twenty percent) of the Company's eguity as of 30 November 2025, as reflected in the
Company's Consolidated Financial Statements.

Considering the relationship between the Company and PT REM as a Controlled Company,
the Material Transactions in the form of the provision of the Corporate Guarantee to the Seller
and the Guarantee to Creditors constitute Affiliated Transactions as defined under POJK No.
42/2020. However, such transactions do not constitute Conflict of Interest Transactions.
Furthermore, pursuant to Article 33 letter (a) of POJK No. 17/2020 and Article 24 paragraph
(1) of POJK No. 42/2020, where a Material Transaction also constitutes an Affiliated
Transaction, the Company is only reguired to comply with POJK No. 17/2020. Accordingly,
this Disclosure of Information is provided in compliance with POJK No. 17/2020.

Pursuant to Article 11 letter (e) of POJK No. 17/2020, the Material Transaction in the form

f the provision of the Guarantee to Creditors is exempt from the reguirement to appoint an
Appraiser and to obtain prior approval from the Shareholders. Nevertheless, as part of the
implementation of good Corporate governance, compliance with Article 12 paragraph (8) of
the Articles of Association of the Company, and taking into account Article 102 of the
Company Law, the Company has obtained a fairness opinion in respect of such transaction
based on the Fairness Opinion Report dated 30 March 2026, and such transaction will still
be submitted for approval by the Shareholders at the EGMS to be held on 7 May 2026 (EGMS
7 May 2026”).

letters (a) and (d) of POJK No. 17/2020, the Company has obtained a fairness opinion and
approval for such transactions will be sought at the EGMS 7 May 2026.

In connection with the EGMS 7 May 2026, the Company has announced the plan to convene
the EGMS on 31 March 2026 through the Company's website, the PT Kustodian Sentral Efek
Indonesia's website (CASY.KSEI), and the IDX website, in accordance with POJK No. 15/2020.

In compliance with POJK No. 17/2020, this Disclosure of Information is made available
through the Company's website and the IDX website.

DESCRIPTION OF MATERIAL TRANSACTIONS

A. OBJECT AND VALUE OF MATERIAL TRANSACTIONS

a. Novation Agreement

('Parties to the 21. PT REM as the Now Lender, TI

Transaction 2. SMS Offshore Overseas Limited as the

Original Lender,

3. SMS Development Limited as the Borrower:
and

4. Cosimo Borrelli of Kroll HK Limited as
receiver of SMS Offshore Overseas Limited,

(each as defined in the Novation Agreement).

Value and Object of : | The object of the novation is a shareholder loan
Novation agreement amounting to USD 59,208,570 (the
“Loan Agreement”).

Such loan was previously granted by SMS
Offshore Overscas Limited to SMS Development
Limited.

The amount represents the transfer price payable
by the new lender to the original lender.

Novation Mechanism ? | The novation mechanism is as follows:
1. PT REM shall pay USD 59,208,570 to SMS
Offshore Overseas Limited no later than two

6

business days after the fulfillment of the
conditions precedent under the SSPA, and

Upon such payment, all rights, interests, and
obligations of SMS Offshore Overscas Limited
as creditor under the Loan Agreement shall be
transferred to PT REM (the “Effective Time”).

Scope of Agreement

The Novation Agreement governs the transfer
(novation) of all rights, interests, and obligations
of SMS Offshore Overseas Limited under the Loan
Agreement to PT REM, effective as of the Effective
Time.

Key terms of the Loan Agreement include:

a. Principal Amount
USD 59,208,570

b. Maturity
The loan does not have a fixed term and shall
become due upon demand for payment by the
lender.

Cc. Interest Rate
The loan bears interest at a rate of OX (zero
percent) per annum or such other interest rate
as may be determined by the lender.

d. Repayment Schedule
Repayment of the loan shall be made upon
written demand by the lender, in accordance
with the payment mechanism as stipulated in
the Loan Agreement, including but not limited
to cash payment or other mechanisms as may
be agrecd by the parties.

Governing Law English Law

Dispute Resolution

Any dispute shall be resolved through arbitration
at the Singapore International Arbitration Centre
(SIAC), with the seat of arbitration in Singapore
and conducted in the English language.

SSPA

(Parties to the
Transaction

SMS Offshore Overseas Limited as the Seller,

Cosimo Borrelli of Kroll HK Limited as the
Sales Agent,

PT REM as the Purchaser:

the Company as the Purchaser's Guarantor,
and

OCP Asia Fund IV and OCP Asia Fund V, cach
as the New Lenders,

(each as defined in the SSPA)

Scope of the Agreement

The SSPA governs the acguisition of 10046 (one
hundred percent) of the shares held by SMS
Offshore Overseas Limited in SMS Development
Limited by PT REM, including the transfer of all
rights and interests attached to such shares to PT
REM.

SMS Development Limited is an investment
company holding shares in Husky-CNOOC
Madura Limited “HCML”), which engages in the
exploration and production of crude oil and
natural gas in the Madura Strait, Indonesia,
pursuant to a production sharing contract (PSC)
between HCML and SKK Migas (hereinafter
referred to as the “Madura Strait PSO).

In addition, the SSPA also provides for the
granting of a corporate guarantee by the Company
in respect of PT REM' obligations in connection
with the implementation of the transaction in
accordance with the provisions of the SSPA.

Transaction Value and
Payment Mechanism

The transaction value consists of:

a) Base transaction price
USD 62,510,594

b) Initial deposit

PT REM is reguired to pay a deposit of USD
12,500,000 upon the execution of the SSPA on
25 December 2025.

c) Contingent payment
SMS Development Limited may receive
additional payments of:

# USD 16.5 million, if the Madura Strait PSC
extension is obtained, and

8 an additional USD 3 million if the Madura
Strait PSC extension is obtained before 30
June 2027.

Conditions Precedent

The transaction may only be completed upon the
fulfillment of, among others, the following
conditions:

1. approval of the Companys GMS on the
Material Transaction in accordance with OJK
regulations,

2. settlement of certain loans held by SMS
Development Limited:

3. SMS Offshore Overseas Limited no longer
having the status of creditor of SMS
Development Limited: and

4. where reguired, approval from independent
sharcholders in accordance with OJK
regulations on Affiliated Transactions.

If such conditions are not fulfiled within a
maximum period of six months from the date of
execution, the SSPA may be terminated.

Governing Law 1 | English Law

Dispute Resolution : | Any dispute shall be resolved through arbitration
at the Singapore International Arbitration Centre
(SIAC), with the seat of arbitration in Singapore
and conducted in the English language. ng

c. Supplemental letter dated 17 March 2026

Parties to the :| 1. the Company, and
Transaction .
2. PT Petro Indo Pasifik (“PT PIP”).

Scope of the Agreement : | The supplemental letter dated 17 March 2026 sets
out the agreement between the Company and PT
PIP in relation to the proposed acguisition of a
bank financing facility for the Acguisition
Transaction, whereby the obligations arising from
the Guarantee to Creditors in respect of such
facility shall be borne proportionally, with 5146
(fifty-one percent) by the Company and 4994 (forty-
nine percent) by PT PIP.

If either party makes payment in respect of any
creditor claim arising from the default of PT REM,
the other party shall reimburse such payment in
accordance with its respective proportion on an
unconditional and irrevocable basis no later than
3 (three) business days prior to the due date of
such claim, and such obligation shall remain fully
effective and shall not be reduced or discharged
under any circumstances, including any right of
the paying party to claim reimbursement for
penalties or additional interest arising from the
other party's delay in payment.

(Governing Law —— Ii | Laws of the Republic of Indonesia

B. PIHAK YANG MELAKUKAN TRANSAKSI MATERIAL

1. PT REM

Brief History

PT REM is a limited liability company established and governed under the laws of the
Republic of Indonesia based on Deed No. 9 dated 5 December 2025, made before
Muhammad Hanafi, S.H., Notary in Jakarta. The deed of establishment has been
approved by the MOL pursuant to Decree No. AHU-0107173.AH.01.01.TAHUN 2025
dated 12 December 2025 (the “Deed No. 9/2025” or the “Articles Of Association of
PT REM).

Based on the Articles of Association of PT REM, the purposes and objectives of PT

REM are to engage in holding company activities and other management consulting
activities.

Capital Structure and Shareholding Composition

Based on Deed No. 9/2025, the shareholding structure of PT REM is as follows:

Number of Par Value per Total Nominal Value 'og
Dessuption Siiares) Share (Rp) (Rp) 2
Authorized Capital
500,000 1,000,000 | 500,000,000,000
Issued and Paid-up Capital
PT REI 127,500 127,500,000,000 5146
1,000,000

PTPIP 122,500 122,500,000,000 49 Ya
Total 250,000 '250,000,000,000 10096

Management and Supervision
Based on Deed No. 9/2025, the composition of the Board of Commissioners and the
Board of Directors of PT REM is as follows:

Board of Commissioners
Commissioner : Sumantri

Board of Directors
Director : Adrian Hartadi

Perseroan

Brief History

The Company is a public limited liability company established and governed under
the laws of the Republic of Indonesia based on Deed No. 7 dated 16 October 2006,
made before Ny. Indah Setyaningsih, S.H., Notary in Jakarta. The deed of
establishment was approved by the MOLHR pursuant to Decree No. W7-
06263.HT.O1.01.TH 2007 dated 7 June 2007.

The Company' Articles of Association have been amended from time to time, with the
latest amendment set forth in Deed No. 18 dated 20 September 2024, made before
Rini Yulianti, S.H., Notary in East Jakarta. Such amendment has been approved by
the MOLHR pursuant to Decree No. AHU-0059751.AH.01.02.TAHUN 2024 dated 20
September 2024 and has been duly notificd as evidenced by Receipt of Notification of
Amendment to the Articles of Association No. AHU-AH.01.03-0193996 dated 20
September 2024 and Receipt of Notification of Amendment to Company Data No. AHU-
AH.01.09-0254185 dated 20 September 2024.

(collectively referred to as the “Articles of Association of the Company”).

Based on Article 3 of the Articles of Association of the Company, the purposes and
objectives of the Company are to engage in holding company activities, mining, other
management consulting activities, crude oil mining, and natural gas mining.

To achieve such purposes and objectives, the Company may conduct the following
business activities:

1. Main business activities
i. Holding company activities (KBLI 64200)
ii. Other management consulting activities (KBLI 70209)

2. Supporting business activities
i. Crude oil mining (KBLI 06100)
ii. Natural gas mining (KBLI 06201)

Capital Structure and Shareholding Composition

Based on the Company's Register of Shareholders prepared by the Share Registrar,
PT Ficomindo Buana Registrar, the shareholding structure of the Company as of 27
February 2026 is as follows:

Pena Waamber or PE Total Ka Vatus 2

Authorized Capital
10,000,000,000 10 100,000,000,000 |

Issued and Paid-up Capital
Pa Rukun Raharja | 1 965,121,000 18,671,210,000 68.771
Kej AHA Sinta 50,000 10 500,000 0.001
Adrian Hartadi 3,600 36,000 0.004
Public 847,879,200 8,478,792,000 31.2996
Total 2,715,053,800 27,150,538,000 10076 |

Management and Supervision

Based on the Deed of Statementof Resolutions of the Company's Meeting No. 35 dated
30 April 2025, made before Rini Yulianti, S.H., Notary in East Jakarta, which has
been duly notified to the MOL through the Receipt of Notification of Amendment to
Company Data No. AHU-AH.01.09-0221474 dated 5 May 2025 and registered in the
Company Register No. AHU-0097145.AH.O1.11.Tahun 2025 dated 5 May 2025, the
composition of the Board of Commissioners and the Board of Directors of the
Company is as follows:

Board of Commissioners
Board of Commissioners

President Commissioner : Orias Petrus Moedak
Commissioner : Merly
Independent Commissioner : Taufik Ahmad

Board of Directors

President Director : Sumantri
Director : Alexandra Sinta Wahjudewanti
Director : Adrian Hartadi

RATIONALE, CONSIDERATIONS, AND PURPOSE OF THE MATERIAL TRANSACTIONS
AND THEIR IMPACT ON THE COMPANY'S FINANCIAL CONDITION

The implementation of the Acguisition Transaction Series and the provision of the Guarantee
to Creditors have been undertaken after taking into account the potential economic benefits

The implementation of the Acguisition Transaction Series and the provision of the Guarantee
to Creditors do not result in any material adverse impact on the Company's financial
condition. These transactions are expected to strengthen the Company's business position
and support the sustainable growth of the Company's business activities in the future.

SUMMARY OF THE APPRAISER'S REPORT ON THE FAIRNESS
OF THE TRANSACTION

A. Identity of the Appraiser

KJPP FDI&R has been appointed by the Company pursuant to engagement letter No.
019/FDI/SPK/REC/III/2026 dated 26 March 2026 to provide a fairness opinion on the
Acguisition Transaction Series and the provision of the Guarantee to Creditors.

B. Summary of the Fairness Opinion Report

The following is a summary of the Fairness Opinion Report dated 30 March 2026.

aa

Object of the Valuation

'The object of the valuation is the Acguisition Transaction Series and the provision of
the Guarantee to Creditors.

Purpose of the Valuation

The purpose of the preparation of the Fairness Opinion Report is to provide an opinion
on the fairness of the Acguisition Transaction Series and the provision of the
Guarantee to Creditors in order to comply with POJK No. 17/2020.

- Assumptions and Limiting Conditions

In conducting its analysis and as a basis for providing its fairness opinion on the
Acguisition Transaction Series and the provision of the Guarantee to Creditors, KJPP
FDI&R has relied on information and data provided by the management of the
Company and has assumed that such information and data are true, complete, and
reliable. KJPP FDI&R has also assumed that the Company will continue to operate on
a going concern basis and that there will be no material changes in the economic,
market, or operational conditions of the Company from the date of the report up to
the date of the fairness opinion.

KJPP FDI&R has not conducted any audit or detailed verification of the information
and data received, whether in oral or written form. Accordingly, KJPP FDI&R does not
provide any assurance and shall not be held responsible if, at any time, the
information and data provided by the management of the Company are found to be
incomplete, inaccurate, or misleading.

KJPP FDI&R has not conducted any review of legal aspects or due diligence on
financial aspects. Accordingly, KJPP FDI&R assumes that the object being valued is
free from any legal issues, and that its ownership rights are valid and marketable.
KJPP FDI&R also assumes that the object presented is indeed the object referred to
in the fairness opinion. Furthermore, KJPP FDI&R assumes that all relevant parties
have complied and will comply with all applicable laws and regulations in connection
with the implementation of the transaction.

The Fairness Opinion Report dated 30 March 2026 must be used in its entirety and
cannot be separated, and its use is limited solely for the purpose of this fairness
opinion. Accordingly, KJPP FDI&R shall be released from any claims and liabilities
arising from the use of the Fairness Opinion Report dated 30 March 2026 for purposes
other than those intended in the preparation of this fairness opinion.

Valuation Approaches and Methods

In providing its fairness opinion on the Acguisition Transaction Series and the
provision of the Guarantee to Creditors, KJPP FDI&R has conducted a fairness
analysis through the following:

a. transaction analysis,
b. gualitative and guantitative analysis, and
c. fairness analysis of the transaction.

- Fairness Opinion on the Material Transaction

Based on the information and data obtained from the management of the Company
and used in its analysis, KJPP FDI&R is of the opinion that the Acguisition
Transaction Series and the provision of the Guarantee to Creditors are fair.

STATEMENT OF THE BOARD OF COMMISSIONERS AND THE BOARD OF
DIRECTORS OF THE COMPANY

The Board of Directors of the Company states that the Material Transactions in the form of
the provision of the Corporate Guarantee to the Seller and the Guarantee to Creditors in
support of the Acguisition Transaction by PT REM constitute an Affiliated Transaction as
referred to in POJK No. 42/2020. Referring to Article 33 letter (a) of POJK No. 17/2020 and
Article 24 paragraph (1) of POJK No. 42/2020, where a Material Transaction also constitutes
an Affiliated Transaction, the Company is only reguired to comply with the provisions set out
in POJK No. 17/2020.

The Board of Commissioners and the Board of Directors of the Company, individually and
jointly, state that:

1. the Acguisition Transaction Series and the provision of the Guarantee to Creditors do
not constitute a Conflict of Interest Transaction as referred to in POJK No. 42/2020, and
2. all material information relating to the Acguisition Transaction Series and the provision
of the Guarantee to Creditors has been disclosed and such information is not misleading.

ADDITIONAL INFORMATION

Shareholders of the Company who reguire further information regarding this Disclosure of
Information may contact the Company during business days and hours at:

Head Office:
Office Park Thamrin Residences A01-05
Jl. Thamrin Boulevard, Kebon Melati, Tanah Abang
Central Jakarta, DKI Jakarta, 10220
Indonesia

Telephone: (021) 23579812
Facsimile: (021) 23579812
Email: corsecrec.co.id
Website: www.rec.co.id

PT Raharja Energi Cepu Tbk

SEULH RIAU RUPAH

President Director