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Page 1 OCR 0.917
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Jakarta, 9 Agustus 2023

Nomor: 023/APLN-CM/VIII.2023

Kepada

Otoritas Jasa Keuangan

Gedung Soemitro Djojohadikusumo
Jln. Lapangan Banteng Timur 2-4
Jakarta 10710

U.p. Yth. Kepala Eksekutif Pengawas Pasar Modal

Jakarta, August 9, 2023

Number: 023/APLN-CM/VIII.2023

To

Financial Services Authority (“OJK”)
Soemitro Djojohadikusumo Building

Jin.

Lapangan Banteng Timur 2-4

Jakarta 10710
Attn: Chief Executive of the Capital Market Supervisor

Perihal: Informasi terkait Peringkat Obligasi Senior — Suhject: Information in Regard with the Rating of USD
USD APL Realty Holdings Pte. Ltd. Senior Notes of APL Realty Holdings Pte. Ltd.

Dengan hormat, Dear Sir,

Merujuk pada surat kami sebelumnya No. 019/APLN-  Referring to our previous letter No. 019/APLN-

CM/VII.2023 tanggal 28 Juli 2023 perihal: Informasi
terkait Peringkat Obligasi Senior USD APL Realty
Holdings Pte. Ltd. 1 kami informasikan mengenai
tindakan pemeringkatan yang dilakukan kembali oleh
Fitch Ratings (“Fitch”).

Sebelumnya kami jelaskan terlebih dahulu sebagai
berikut:

«  APL Realty Holdings Pte. Ltd. (“APL Realty”) adalah
suatu perseroan terbatas yang didirikan di Republik
Singapura, dan merupakan entitas anak Perseroan
yang seluruh sahamnya dimiliki oleh Perseroan.

e Pada tanggal 2 Juni 2017, APL Realty menerbitkan
Obligasi Senior dengan nilai pokok USD 300.000.000
(tiga ratus juta Dolar Amerika Serikat), dengan
jangka waktu 7 tahun, dan kupon 5,959 (lima koma
sembilan lima persen) per tahun (“Senior Notes”)
berdasarkan indenture tanggal 2 Juni 2017
(“Indenture”), yang dicatatkan dan diperdagangkan
di Bursa Efek Singapura (“SGX”).

« Pada tanggal 11 Juli 2023, APL Realty melakukan
pengumuman pada SGX perihal dimulainya
penawaran tender atas Senior Notes yang
diterbitkan oleh APL Realty (“Tender Offer”) dan

CM/VII.2023 dated July 28, 2023 regarding: Information
in Regard with the Rating of USD Senior Notes of APL
Realty Holdings Pte. Ltd. ' we would like to inform you
about the rating action taken again by Fitch Ratings
(“Fitch”).

Firstly, let us explain as follows:

APL Realty Holdings Pte. Ltd. (“APL Realty”) is ad
limited liability company incorporated in the Republic
of Singapore, and is a@ subsidiary of the Company
whose shares are wholly owned by the Company.

On June 2, 2017, APL Realty issued a Senior Notes with
principal amount of USD 300,000,000 (three hundred
million US Dollar), with 7 years tenor, and coupon of
5.9525 (five point nine five percent) per annum
(“Senior Notes”) based on the indenture dated June 2,
2017 (“Indenture”), which are listed and traded on the
Singapore Stock Exchange (“SGX”).

On July 11, 2023, APL Realty made an announcement
at SGX regarding the commencement of tender offer
of Senior Notes issued by APL Realty (“Tender Offer”)

1 Disampaikan melalui SPE-IDXnet dengan nomor surat 039/APLN/VII/2023 tanggal 28 Juli 2023 perihal: Laporan Informasi atau Fakta
Material - Informasi terkait Peringkat Obligasi Senior USD APL Realty Holdings Pte. Ltd.
Submitted through SPE-IDXnet with letter number 039/APLN/VII/2023 dated 28 July 2023 regarding: Report on Material Information or Facts
- Information related to USD Senior Bond Rating APL Realty Holdings Pte. Ltd.

1

PT AGUNG PODOMORO LAND, Tbk. | APL Tower 43rd - 46th floor, Podomoro City | Jl. Let. Jend. S. Parman Kav. 28, Jakarta 11470, Indonesia
T. 462 21 290 34567 1F. 462 21 290 34550 - 51 | Web. www.agungpodomoroland.com
Page 2 OCR 0.904
AGUNG

PODOMORO

LAND
permohonan persetujuan untuk mengubah and soliciting consents for an amendment of certain
beberapa ketentuan tertentu dari Indenture provisions of the Indenture (“Consent Solicitation”).2

(“Consent Solicitation”).2

« Tender Offer dan Consent Solicitation, serta  « The Tender Offer and Consent Solicitation, as well as
pembayaran atas Tender Offer selesai dilaksanakan payment for the Tender Offer, were completed on 2
pada tanggal 2 Agustus 2023.” August 2023.3

Dengan telah selesainya proses Tender Offer dan By the completion of the Tender Offer and Consent
Consent Solicitation tersebut, maka Fitch kembali Solicitation processes, Fitch has taken another rating

melakukan tindakan pemeringkatan: action:

» Diumumkan melalui siaran pers Fitch tanggal 8 » Announced in Fitch's press release on August 8, 2023.
Agustus 2023.

»  Fitch telah menurunkan peringkat jangka panjang »  Fitch has downgraded PT Agung Podomoro Land Tbk.

Issuer Default Rating (“IDR”) PT Agung Podomoro (the “Company”)'s long-term Issuer Default Rating
Land Tbk. (“Perseroan”) menjadi “RD' (Restricted (“IDR”) to 'RD' (Restricted Default) from 'C'. To Fitch,
Default) dari 'C. Bagi Fitch ini merupakan default this represents a restricted default under Fitch's
terbatas sesuai definisi distressed debt exchange distressed debt exchange (DDE) definition.

(DDE) menurut Fitch.

Selanjutnya Fitch telah meningkatkan IDR Jangka Subseguently Fitch has upgraded APLN's Long-Term
Panjang Perseroan menjadi 'CCC-'— untuk IDR to 'CCC-' to reflect the company's liguidity
mencerminkan prospek likuiditas perusahaan prospects following the tender offer.

setelah penawaran tender.

Fitch juga telah meningkatkan peringkat Senior Fitch has also upgraded the rating of Senior Notes,
Notes, yang diterbitkan oleh APL Realty, menjadi issued by APL Realty, to 'CCC-, from 'C' with a@
'CCC-', dari 'C', dengan Peringkat Pemulihan 'RR4'. Recovery Rating of 'RR4'.

Demikian kami sampaikan. Atas perhatiannya, kami Thank you for your kind attention.
mengucapkan terima kasih.

? Mohon merujuk pula pada surat Perseroan No. 015/APLN-CM/VII.2023 tanggal 11 Juli 2023 perihal: Laporan Informasi atau Fakta Material,
dan No. 017/APLN-CM/VII.2023 tanggal 17 Juli 2023 perihal: Tanggapan atas Permintaan Penjelasan Bursa, yang disampaikan Perseroan
melalui SPE-IDXnet dengan nomor surat: 035/APLN/VII/2023 tanggal 11 Juli 2023, dan 037/APLN/VII/2023 tanggal 17 Juli 2023.

Please also refer to the Company's letter No. 015/APLN-CM/VII.2023 dated July 11, 2023 regarding: Report on Material Information or Facts,
and No. 017/APLN-CM/VII.2023 dated July 17, 2023 regarding: Response to IDX Reguest for Explanation, submitted by the Company through
SPE-IDXnet with letter number: 035/APLNY/VII/2023 dated July 11, 2023, and 037/APLN/VIM2023 dated July 17, 2023.

? Mohon merujuk pada surat Perseroan No. 021/APLN-CM/VIII.2023 tanggal 3 Agustus 2023 perihal: Laporan Informasi atau Fakta Material,
yang disampaikan melalui SPE-IDXnet dengan nomor surat 041/APLN/VIII/2023 tanggal 3 Agustus 2023 perihal: Laporan Informasi atau Fakta
Material - Penyelesaian dan pelaksanaan pembayaran atas Tender Offer Senior Notes APL Realty.

Please refer to the Company letter No. 021/APLN-CM/VIII.2023 dated August 3, 2023 regarding Report on Material Information or Facts,
which was submitted through SPE-IDXnet with letter number 041/APLN/VIII/2023 dated August 3, 2023 regarding: Report on Material
Information or Facts - Completion and implementation of payment for the Tender Offer of APL Realty Senior Notes.

2

PT AGUNG PODOMORO LAND, Tbk. | APL Tower 43rd - 46th floor, Podomoro City I Jl. Let. Jend. 5. Parman Kav. 28, Jakarta 11470, Indonesia
T. 162 21 290 34567 | F. 62 21 290 34550 - 51 | Web. www.agungpadomoroland.com

——
Page 3 OCR 0.902
@YAGunG
N PODOMORO

Hormat kami, Respectfully,

PT Agung Podomoro Land Tbk.

RO LAND, Tbk.

F. Justini Omas
Sekretaris Perusahaan | Corporote Secretary

Tembusan: CC:
PT Bursa Efek Indonesia — Divisi Penilaian Perusahaan PT Bursa Efek Indonesia — Division of Issuer Evaluation
Group 2 Group 2

3

PT AGUNG PODOMORO LAND, Tbk. | APL Tower 43rd - 46th floor, Podomoro City I Jl. Let. Jend. S. Parman Kav. 28, Jakarta 11470, Indonesia
T. 462 21 290 34567 |F. «62 21 290 34550 - 51 | Web. www.agungpodomoroland.com

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