20231205_PTRO_Ringkasan Risalah//Risalah RUPS_31545842_lamp3.pdf

Elaboration of the Meeting’s Code of Conduct and Current General Condition of the Company

The Meeting’s code of conduct has been read prior to discussing the Meeting's agenda, and the Company’s President
Director has also conveyed the latest general conditions of the Company and provided information regarding the decision-
making mechanism as well as procedures for exercising shareholder rights to submit questions and opinions.

Opportunity for Questions and Answers during the Meeting

For each Meeting agenda, the Chairman of the Meeting gave an opportunity to the Company’s shareholders and/or their
proxy who attended in person to raise a question and/or give an opinion regarding the Meeting’s agenda which was
discussed.

The questions, which were raised by the shareholders and/or valid proxy during the Meeting and were noted by the Notary
in the Company’s Minutes of the Meeting are as follows:

     Meeting Agenda              Agenda 1         No question was raised
                                 Agenda 2         1 (one) question was raised however the answer was already explained
                                                  during the Meeting
Decision Making Mechanism

All decisions were made based on deliberation to reach consensus and in the event the deliberation did not reach
consensus, the decision was made by voting. The decision was made by voting which was conveyed by the shareholders
through: (i) Electronic General Meeting System KSEI or eASY.KSEI in https://akses.ksei.co.id which was provided by PT
Kustodian Sentral Efek Indonesia; (ii) granting of power of attorney to the Company's Securities Administration Bureau,
namely PT Datindo Entrycom; as well as (iii) those who attended the Meeting in person.
Independent Parties for Vote Counting

The Company appointed independent parties, namely Notary Shanti Indah Lestari, S.H., M.Kn. to create the Meeting's
minutes as well as PT Datindo Entrycom to conduct the counting and/or voting validation.

Meeting Resolutions

I.     First Agenda:

       The approval of adjustments to Article 3 of the Company's Articles of Association, related to the alignment of the
       Company's business activities with the 2020 Standard Classification of Indonesian Business Fields ("KBLI 2020") based
       on Government Regulation of the Republic of Indonesia Number 5 of 2021 regarding the Implementation of Risk-
       Based Business Licensing along with implementing regulations ("PP No. 5 of 2021").

                                            Total Shares Represented at the Meeting
                                                   870,944,819 shares or 100%
                 Disagree                    Abstain                      Agree                  Total Votes That Agreed
         4,281,000 shares or 0.49%   75,000 shares or 0.01%    866,588,819 shares or            866,663,819 shares or
                                                               99.50%                           99.51%

       Resolution of the First Agenda:

       1.   The approved amendment and restatement of provisions in Article 3 of the Company's Articles of Association to
            be adjusted and aligned with Government Regulation of the Republic of Indonesia No. 5 of 2021 regarding
            Implementation of Risk-Based Business Licensing along with its implementing regulations.
       2.   To grant power and authority with rights of substitution to the Company's Directors, with stated matters relating
            to this decision in a deed made before a Notary, and to appear before a Notary and/or authorized official to
            request approval for changes to the Company's Articles of Association at authorized institutions and to carry out
            all necessary actions in accordance with prevailing laws and regulations with no actions excluded.

II.    Second Agenda:

       The approval of changes to the composition of the Company's Board of Commissioners and Board of Directors.

                                            Total Shares Represented at the Meeting
                                                   870,944,819 shares or 100%
                 Disagree                    Abstain                       Agree                 Total Votes That Agreed
         4,281,000 shares or 0.49%   75,000 shares or 0.01%    866,588,819 shares or 99.50%      866,663,819 shares or
                                                                                                 99.51%


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Resolution of the Second Agenda:

1.   To accept the resignation of:

     ●    Haji Romo Nitiyudo Wachjo as President Commissioner
     ●    Hasnul Suhaimi as Independent Commissioner
     ●    Prof. Dr. Supandi, S.H., M.Hum., as Independent Commissioner
     ●    Romi Novan Indrawan as President Director
     ●    Rafael Nitiyudo as Vice President Director
     ●    Aldi Rakhmatillah as Director
     ●    Pankaj Motilal as Director

     Effective as of the closing date of this Meeting and provide acquit et de charge for the Company's Board of
     Commissioners and Directors who have resigned, in connection with the duties of the Company's Board of
     Commissioners in carrying out its supervision duties and the Company's Board of Directors in carrying out its
     management duties until the current year in accordance with prevailing laws and regulations.

     The Company hereby would like to express its thanks and utmost appreciation to the Company’s Board of
     Commissioners and Board of Directors for all the achievements during their tenure.

2.   Agree to accept the appointment of:

     ●    Osman Sitorus as President Commissioner and concurrently as Independent Commissioner
     ●    Erwin Ciputra as Commissioner
     ●    Prof. Ginandjar Kartasasmita as Commissioner
     ●    Michael as President Director
     ●    Kartika Hendrawan as Director
     ●    Meinar Kusumastuti as Director
     ●    Iman Darus Hikhman as Director

     Effective from the closing date of this Meeting with a term of office commencing from the approval of this
     Meeting until the closing of the Company's Annual General Meeting of Shareholders which will be held in 2026,
     without limiting the rights of the General Meeting of Shareholders to dismiss members of the Company's Board
     of Commissioners and Board of Directors at any time.

     Therefore, the composition of the Company's Board of Commissioners and Board of Directors is as follows:

     Board of Commissioners
     President Commissioner and concurrently Independent Commissioner : Osman Sitorus
     Commissioner                                                     : Prof. Ginandjar Kartasasmita
                                                                        Djauhar Maulidi S.E., M.B.A.
                                                                        Erwin Ciputra
                                                                        Jend. Pol (Purn.) Drs. Sutanto
     Independent Commissioner                                         : Setia Untung Arimuladi, S.H., M.Hum.

     Board of Directors
     President Director                                                   : Michael
     Director                                                             : Kartika Hendrawan
                                                                            Ruddy Santoso
                                                                            Meinar Kusumastuti
                                                                            Iman Darus Hikhman


     With term of office for the Company's Board of Commissioners and Board of Directors appointed based on this
     Meeting starting from when the approval of this Meeting is obtained until the closing of the Company's Annual
     General Meeting of Shareholders which will be held in 2026, meanwhile for the Company's Board of
     Commissioners and Board of Directors who have previously served may continue their term of office in
     accordance with the provisions of the Company's Articles of Association, without reducing the rights of the
     General Meeting of Shareholders to dismiss members of the Company's Board of Commissioners and Board of
     Directors at any time.

3.   To grant power and authority with the right of substitution to the Board of Directors of the Company, to state
     matters relating to this decision, in a deed made before a Notary, as well as before a Notary or authorized
     official, and make adjustments or improvements as necessary if required by the authorities, including carrying
     out all necessary actions in connection with the implementation of the decision of the Second Agenda of this
     Meeting in accordance with prevailing laws and regulations with no actions excluded.
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This summary was prepared in Indonesian and English languages. In the event that there is a difference in interpreting the
information notified in the Indonesian and English languages, the Indonesian language version must be used as reference.

                                            South Tangerang, 5 December 2023
                                                    Board of Directors
                                                     PT Petrosea Tbk




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