20230707_GOOD_Laporan Informasi dan Fakta Material_31338890_lamp3.pdf

GPPJ intends to seek shareholder approval GPPJ for additional business activities PT Simarniaga Sejahtera i.e,
Controlled Company of PT Garudafood Putra Putri Jaya Tbk (“Change of Business Activities”) with an
estimated time schedule as follows:

No | Activities Dated

1 | Announcement of the Extraordinary General Meeting of Shareholders (“EGMS”) | 27 June 2023
at Indonesia Stock Exchange (“IDX”) website, to the Financial Services Authority
CoJK)

2 Announcement of the EGMS to the shareholders of GPPJ at IDX website, | 7 July 2023
CASY.KSEI website, and GPPJ website www.garudafood.com.

3 Announcement of Disclosure of Information as well as the provision of data | 7 July 2023
regarding Changes in Business Activities through the Exchange website and GPPJ
website akndafood.com.

4 | EGMS Invitation to the Shareholders of the Company at IDX website, eASY. KSEI | 24 July 2023
website, and the Company's website www.garudafood.com.

The EGMS 15 August 2023

6 | Announcement of the summary of the EGMS at IDX website and GPPJ website | 18 August 2023
Kww.garndafood.com.

THE EGMS

In accordance with the prevailing laws and regulations, the plan to change business activities as described in
this Disclosure of Information will seek shareholder approval GPPJ in EGMS on the date of 15 August 2023.
Announcement of the EGMS announced by eASY,KSEI in the link https://akses.ksei.co.id, at Indonesia Stock
Exchange, and website GPPJ www.garudafood.com on the date of 24 July 2023. The shareholders entitled to
attend or be represented at the Meeting are the sharcholders whose names are registered in the Register of
Shareholders GPPJ and/or owner of the balance of shares GPPJ on the securities sub-account in the Collective
Custody PT Kustodian Sentral Efek Indonesia (KSEI) at the close of stock trading on the Indonesia Stock
Exchange on the date of 21 July 2023. For shareholders unable to attend EGMS, may authorise his/her power of
attorney to another party in accordance with the provisions set out in the summons EGMS GPPJ at the latest 7
(seven) working days before EGMS organised.

The agenda of the EGMS to be held on 15 August 2023 is as follows:

-  Approval of the additional of business activities of GPPJ Controlled Company, PT Sinarniaga Sejahtera, in
accordance with the Financial Services Authority Regulation No.17/POJK.04/2020 on Material
'Transactions and Changes in Business Activities,

Explanation of ihe Meeting agenda:
-  Approval on the additional business activities of the Controlled Company, namely PT Sinarniaga Sejahtera

in accordance with the Financial Services Authority Regulation No.t7/POJK.04/2020 on Material
Trangactions and Changes in Business Activities,

Attendance guorum and resolution guorum of the EGMS
- GMS may be held if attended by shareholders holding shares representing at least more than 1/2 (one-half)

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of the total number of shares with valid voting rights issued by GPPJ, and approved by shareholders holding
shares representing more than 1/2 (one-half) of the total number of valid voting rights present at the GMS.

- TH the attendance guorum as deseribed in point a above is not met, then the second GMS can be held if
attended by shareholders who own shares representing at least 1/3 (one-third) of the total number of shares
with valid voting rights issued by GPPJ, and approved by shareholders who own shares representing more
than 1/2 (one-half) of the total valid voting rights present at the GMS.

- Ifthe attendance guorum as described in point b above is not met, then the third GMS may be held provided
that the third GMS is valid and entitled to adopt resolutions if attended by shareholders of shares with valid
voting rights within the attendance guorum and resolution guorum determined by OJK at the reguesi of the
Company GMS will be determined by OJK.

|. GENERAL

A. GPPJ

a. General Description of GPPJ
PT Garudafood Putra Putri Jaya Tbk, domiciled in South Jakarta, was established under the name of PT
Garuda Putra Putri Jaya based on Deed of Establishment No, 21 dated 24 August 1994 made before
Dokteranda Selawati Halim, S.H., Notary in Pati, which has been approved by the Minister of Law and
Human Rights of the Republic of Indonesia ("Menkumham") based on Decree No. C2-
15.820.HT.01,TH.94 dated 20 October 1994, has been registered in the register book at the Registrar of
Pati District Court under No. 51/1994/AN/K/PT dated 11 November 1994, and has been announced in
the State Gazette of the Republic of Indonesia ("Berita Negara Republik Rakyat") dated 20 October
1994. .01.TH.94 dated 20 October 1994, has been registered in the register book at the Registrar of Pati
District Court under No. 51/1994/AN/K/PT dated 11 November 1994, and has been announced in the
State Gazette of the Republic of Indonesia No. 14 dated 17 February 1995, Supplement No. 1555,
The Articles of Association have been amended several times and most recently based on Deed of
Meeting Resolution No. 13 dated 14 April 2023, made before Liestiani Wang, S.H., M,Kn., Notary in
South Jakarta, which has obtained Approval of Amendments to the Articles of Association of GPPJ
Limited from the MOLHR No. AHU-0022704.AH.01.02.TAHUN 2023 dated 15 April 2023
("MOLHR"). :
GPPJ's head office is located at Wisma GarudaFood, Jl. Bintaro Raya No. 104, Jakarta 12240 with
telephone number (o21) 729 ot1o, facsimile number (o21) 729 0112 and email
corporat id,
Based on Article 9 of GPPJ's Articles of Association, GPPJ is engaged in Industry, Trade, Agriculture
and Services,

b. Capital and Shareholder Composition GPPJ
Based on the Deed of Meeting Resolution No. 30 dated 21 December 2018, made before Liestiani Wang,
SH, MKn, Notary in South Jakarta, which has been notified to the MOLHR as evident in the Letter of
Acceptance of Notification of Amendment of Articles of Association No. AITU-AH.01.03-0282011 Year
2019 dated 3 January 2019 and registered in the GPPJ Register at the MOLHR under No. AHU-
0179644.AHI.01.11.Year 2018 dated 3 January 2019 the capital structure of GPPJ is as follows:

Authorized Capital : IDR2.000.000.000.000
Issued Capital :IDR787.958.029,100
Paid-up Capital : IDR737.958.029.100

The Authorised Capital of GPPJ is divided into 100,000,000,000 shares with a nominal value per
share of Rp20.

The Issued and Paid-up Capital of GPPJ is 36,897,901,455 shares or IDR737,958,029,100.

c.

Based on the GPPJ Shareholders Register as at 31 May 2023, issued by PT Datindo Entrycom as the
Company's Securities Administration Bureau, the shareholders of GPPJ are as follows:

Description Nominal Value IDR20 per share
Number of Shares | Total Nominal Value 0)
(in shares) (in IDR)
Base Capital 100.000.060.000 | 2,000.000.000.000
Issued and Fully Paid-up
Capital
HSBC CMB S/A Hormel Food 11.133.317.364 222.666.347.280 20,17
PT Tudung Putra Putri Jaya 7.216.282.600 144.325.652.000 19,56
Kusumo Dewiningrum Sunjoto 2.738.296.600 54.765.932.000 742
Pangayoman Adi Soenjoto 2.637.417.200 52.748.344.000 7315
Sudhamek Agoeng Waspodo S, 2.601.926.150 52.038.523.000 705
Rahajoe Dewiningroem S, Dra 1.939.160.200 38.783.204.000 5,26
Untung Rahardjo 1.496.961.300 29.939.226.000 4,06
Eka Susanto W Sunarso, Drs 569.079.500 11.381.590.000 1,54
Hartono Atmadja 467.803.500 9.356.070.000 127
PT Dharma Agung Wijaya 332.372.041 6.647.440.820 0,90
Hardianto Atmadja 310.997.800 6.219.956.000 0,84
Public") 5.433.654.400 108.673.088.000 14,73
Treasury stock 5.159.800 103.196.000 0,01
Saat Issued and. Paid-up 36.897.901.455 787.958.029.100 (100,00
Shares in Portepel 63.102.098.545 1.262.041.970.900

“) there are no shareholders of the Public who hold shares above 596.

Business Activities of GPPJ

Based on the Deed of Mecting Resolution of Amendment of Articles of Association No. 38 dated 24
June 2021, made before Liestiani Wang, SH, MKn, Notary in South Jakarta, which has obtained
Approval of Amendment of Articles of Association of Limited Liability Companies from the MOLHR
No. AHU-0036504.AH.01.02.TAHUN 2021 dated 25 June 2021, has been notified to the MOLHR as
evident in the Letter of Acceptance of Notification of Amendment of Articles of Association No. AHU-
AH.o1, ,03-0399894 dated 25 July 2021 and registered in the Register of Companies at the Ministry of
Law and Human Rights under No. AHU-o112561.AH.o1.11.TAHUN 2021 dated 25 June 2021 and
Letter of Acceptance of Notification of Changes in Company Data No. AHU-AH.01.03-0399904 dated
25 June 2021, the purpose and ebjective of the Company is to carry out business in the fields of
industry, trade and agriculture.

To achieve the above purposes and objectives, the Company may cariy out the following business
activities:
a. Main Business Activities
1 Engaged in the business of milk processing industry including pasteurised, sterilised,
homogenised and/or ultra heating (UHT) and cream processing industry from fresh,
pasteurised, sterilised and homogenised liguid milk, in liguid or semi-liguid form and other
similar products (KBLI 10510),
ii. Engaged in the industry of milk powder or condensed milk with swectener or not and the

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iv.

“vii,

Ea

xi.

xii

industry of managing milk or cream in solid form and other similar products (KBLI 10520),
Engage in the business of processing other dairy products such as butter, yoghurt, cheese and
curd, casein or lactose (sweetened milk), ice cream powder premixes (ice cream powder), liguid
ice cream premixes, fermented milk, whey, and other similar dairy products (KBLI 10590),
Engage in the manufacture of various kinds of breads and cakes and other bakery products,
such as the fresh bread and cadet bread industry, the cake, pie, tart, biscuit and other dry
bakery products industry: the pastry and cake preservation industry, the sweet or savoury
snack products (cookies, crakers, pastries) industry, the tortillas industry, and the frozen
bakery products industry, such as pancakes, waffles and cadet bread (KBLI 10710),

Engaged in the business of manufacturing all kinds of chocolate-based foods such as chocolate,
compound chocolate, couverture chocolate, imitation chocolate, white chocolate, confectionery
from chocolate spread and cocoa-based fillings. Includes the chocolate beverage industry in
powder or liguid form (KBLI 10732):

Engaged in the manufacture of confectionery including all hard confectionery, soft
confectionery, rubber confectionery, caramel, cachous, nougat, foundat and marzipan, the main
ingredient of which is not chocolate (KBLI 10734),

Engage in the business of manufacturing food from soybeans/other legumes other than soy
sauce and tempeh, such as chips/cheese from beans, synthetic meat, capri beans, salted
peanuts, egg beans, sucro beans, bogor beans, atomic beans, cashews and dumplings. Includes
Soy protein products and texturised vegetable protein (KBLI 10793):

i. Engaged in the business of the industry of various kinds of crackers, chips, peyek and the like,

such as sbrimp crackers, fish crackers and starch crackers (kerupuk terung). And the business
of making various kinds of food similar to crackers, such as various kinds of emping,
kecimpring, karak, gendar, opak, keripik paru, keripik bekicot dan keripik kulit, peyek teri,
peyek udang (KBLI 10794):

Engaged in the beverage industry that does not contain alcohol, except beer and wine without
alcohol. Includes the industry of flavoured soft drinks without alcohol and or sweetness, such as
lemonade, orangeade, cola, fruit drinks, tonic water, lemonade, soda water, cream soda and
wine water, carbonated or non-carbonated drinks, and drinks containing concentrates and
powdered drinks (KBLI 11040):

Engaged in the business of industrial processing of various traditional medicinal products
whose ingredients come from planis, animal ingredients, mineral ingredients, galenic
preparations, or a mixture of these materials in the form of powders, knives, pills, dodol / jelly,
pastilles, tablets, capsules, liguids, solutions, emulsions and suspensions, ointments, creams
and gels, suppositories: Including the herbal drinks industry and health supplements/food not
pharmaceutical products (KBLI 21022)

Engaged in the business of fruits and vegetables drying industry, including the business of
preserving fruits and vegetables by drying, whether or not in packaged form, such as raisins
(grapes), shallots, garlic, dried chillies, dried bamboo shoots and dried mushrooms, Includes
chips industry from fruits and vegetables (KBLI 10313)

to engage in the business of real estate services, whether owned or rented, including the
purchase, sale, rental and operation of real estate, whetber owned or rented, such as apartment
buildings, residential buildings and non-residential buildings (such as storage/warehouse
facilities, malls, shopping centres, etc.) and the provision of houses and flats or apartments with
or without furniture for permanent use, whether on a monthly or annual basis. Including land
sales, development of self-operated buildings (for the rental of spaces in such buildings),
division of self-operated real estate (for the rental of spaces in such buildings), division of real
estate (KBLI68111).

Supporting Business Activities that support the Company's main business activities are:
1

Engage in wholesale trading of food, beverages and other agricultural products, such as herbs
and spices (KBLI 46319):

Engaged in the wholesale trade of milk and milk products (KBLI 46326),

Engaged in the wholesale trade of sugar, chocolate, confectionery and sweetening preparations

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iv.

viii,

(KBLI 46331):

Engage in business in the field of wholesale trade of bakery products, cakes and other bakeries
(KBLI 46332),

Engage in wholesale trading of non-alcoholic beverages such as fruit juice, juice, soft drinks,
mineral water, bottled water, and other similar products (KBLI 46334):

Engage in the wholesale trade of other food and beverages such as rice flour, premixed flour,
bakery, caramel, processed honey, shrimp crackers and others, including food for special
nutritional purposes (for infants, children, and adults), food additives, processing aids, other
snack foods, unprocessed and processed cereals and cereal-based products, soy beverages,
ready-to-eat foods, and wholesale trade of food for pets and animal feed (KBLI 46339),

i. conducting business in the field of peanut farming starting from the activities of land

cultivation, planting, maintenance, and also harvesting and post-harvest if it becomes a unity of
mung bean crop activities. Including mung bean nursery and seeding activities (KBLI 01114):
conducting business in the field of maize farming starting from land cultivation, planting,
maintenance, as well as harvesting and post-harvesting activities if it becomes a unity of maize
cereal crop activities. Including maize nursery and seeding activities (KBLI 01111).

GPPJ main business activities that are actually carried out by GPPJ are producing, selling, marketing

and distributing food and beverage products.

d. Composition of the Board of Commissioners and Directors of GPPJ
The composition of the Board of Commissioners and Board of Directors based on the Meeting
Resolution notarised in accordance with Notarial Deed No. 2 dated 1 February 2023 of Liestiani Wang

S.H., M.Kn. is as follows:

Board of Commissioners

President Commissioner

Sudhamek Agoeng Waspodo Soenjoto

Commissioner Pangayoman Adi Soenjoto
Commissioner Hartono Atmadja
Commissioner Soeharto Sunjoto
Commissioner Swen Neufeldt
Commissioner Donald Reginald Gadsden
Commissioner Dorodjatun Kuntjoro Jakti
Independent

Commissioner Fitra Dewata Teramihardja
Independent

Commissioner Andi Chandra

Independent

Board of Directors

President Director Hardianto Atmadja
Director Robert Chandrakelana Adjie
Director Johannes Setiadharma
Director Paulus Tedjosutikno
Director Fransiskus Johny Soegiarto
Director Rudi Eko Hartono

B. PT SINARNIAGA SEJAHTERA (“the Company” or “SNS” or “Assignor”)

a.

General Description of SNS

PT Sinarniaga Sejahtera, domiciled in Bekasi City, was established pursuant to Deed of Establishment
No. 353 dated 30 July 1994 made before Drs Sutjahjo Srudji, S.H., C.N., Suceessor Notary of Nyonya
Pudji Redjeki Irawati, S,H., Notary in Jakarta, which has been approved by the Minister of Law and
Human Rights of the Republic of Indonesia ("Menkumham") based on Decree No. C2-
4540.HT.01.01.Th.98 dated 1 May 1998, and has been announced in the State Gazette of the Republic of
Indonesia No. 57 dated 18 July 2000, Supplement No. 3780.

The artides of association have been amended several times and most recently based on the Deed of
Statement of Circular Resolution of the Shareholders of SNS No. 67 dated 27 October 2021, made before
Wiwik Condro, S.H., Notary in West Jakarta, which has obtained Approval of Amendments to the
Articdies of Association of Limited Tliability Companies from the MOLHR No. AHU-
0061536.AH.01.02.TAHUN 2021 dated 03 November 2021. .02.TAHUN 2021 dated 03 November 2021
("MOLHR") as mentioned in the Jetter of Acceptance of Notification of Changes in Company Data No.
AHU-AH.01.03-0468692 dated 03 November 2021 and has been registered in the Company Register No,
AHU-0191897.AH.01.11,TAHUN 2021 dated 03 November 2021.

SNS head office is located at Jl. Wahab Affan No. 135, Medansatria Village, Medansatria District, Bekasi
City, West Java with telephone number (o21) 8843210, and email address (021) 8843210.
legal.sns@garudafood.co.id.
Pursuant to Article 3 of the Articles of Association of SNS, SNS is engaged in Wholesale Trading and
Transport, Warehousing and Storage.

Capitalisation and Shareholder Cemposition of SNS

Based on the Deed of Meeting Resolution No, 2 dated 03 May 2012, made before Vera, SH, MH, MKn,
Notary in Bekasi, which has been notified to the MOLHR as evident in the Approval of Amendments to
the Articles of Association of Limited Liability Companies from the MOLHR No. AHU-AH.o1,10-18210
dated 22 May 2012 and registered in the Register of Companies at the MOLHR under No. AHU-
0045417.AH.01.09 of 2012 dated 22 May 2012, the capital structure of SNS is as follows:

Authorised Capital :IDR300.000.060.000
Issued Capital :IDR 102.500.060.000
Paid-up Capital :IDR 102.500.000.000

'The Authorised Capital of the Company is divided into 3,000,000,000 shares with a nominal value
per share of IDR100.

The Issued and Paid-up Capital of ihe Company is 1,025,000,060 shares or IDR102,500,000,000.

Based on the Deed of Circular Resolution No. 2 dated 8 May 2018, made before Dr. H. Dhody A.R
Widjajaatmadja, SH, Notary in Bekasi, which has obtained approval from the MOLHR No. AHU-
0025885.AH.01.02 and registered in the Register of Companies at the MOLHR under No. AHU- AH.
01,03-0247772.Tahun 2019 dated 08 May 2019, the SNS Shareholders Register is as follows:

Description Nominal Value Rp100 per share

Number of Shares | Total Nominal Value C9
(in shares) (in IDR)

Base Capital 3.000.000.000 300.000.000.000

Issued and Fully Paid-up Capital

Shareholders above 596:

PT Garudafood Putra Putri Jaya Tbk 563.207.795 54.95

Greatwall Capital Private Limited 348.500.000 34,00

Pemegang saham di bawah 556”) 113.292.205 11.05

Total Issued ” and  Paid-up

Capital 1.025.900.000 102.500.000.000 (100,00

Shares in Portepel 1.975.000.000 197.500.000.000

#) Represents the aggregate of 20 members of the Minority Shareholders as defined in the articles of
association of SNS whose shareholding is below 596.

. Business Activities of SNS

Based on the Deed of Circular Resolution of Shareholders of PT Sinarniaga Sejahtera No. 67 dated 27
October 2021, made before Wiwik Condro, SH, Notary in West Jakarta, which has obtained Approval of
Amendments to the Articles of Association of Limited Liability Companies from the MOLHR No. AHU-
0061536.AH.o1, .02.TAHUN 2021 dated 3 November 2021, has been notified to the MOLHR as evident
in the Letter of Acceptance of Notification of Changes in Company Data No. AHU-AH.01.03-0468692
dated 3 November 2021 and registered in the Register of Companies at the MOLHR under No. AHU-
0191897.AH..01,11.TAHUN 2021 dated 3 November 2021, the purpose and objective of SNS is to conduct
business in the field of Wholesale Trade and Transportation, Warehousing and Storage.

To achieve the aforementioned purposes and objectives, SNS may carry out the following business
activities:
a. Wholesale Trade
- Wholesale trading in rice (KBLI 46311):
To carry out wholesale trading of rice for use as final consumption.

- Wholesale trading in oils and vegetable fats (KBLI 46315),
To carry out a wholesale trading of vegetable oils and fats, including margarine and products made
from vegetable fats such as non-dairy cream, and other similar products.

- Wholesale trading in food-and beverages ingredients produced by other agricultural products
(KBLI 46319),
To carry out wholesale trading of other agricultural products, such as spices and herbs.

- Wholesale trading in milk and milk products (KBLI 46326),
To carry out wholesale trading of milk and dairy products.

- Wholesale trading in sugar, chocolate and confectionery (KBLI 46331):
To carry out wholesale trading of sugar, chocolate, confectionery and sweetener preparations.

- Wholesale trading in bakery products (KBLI 46332),
To carry out wholesale trading of bakery products, cakes and other bakery products.

- Wholesale trading in non-alcoholic beverages instead of milk (KBLI 46334):

'To carry out wholesale trading of non-alcoholic beverages, such as fruit juices, juices, soft drinks,
mineral water, bottled water, and other similar products.

- Wholesale trading in other foods and beverages (KBLI 46339),
'To carry out wholesale trading of other foods and beverages, such as rice flour, tapioca flour, bakery
premix, caramel, processed honey, prawn crackers and others. Including food for special nutritional
needs (for infants, children, and adults), food additives, processing aids, other snacks, cereals and
cereal based products that have not been processed or processed, soy product drinks, ready to eat
food, and wholesale trade in pet food and fodder.

- Wholesale trading in game tools and childrens toys (KBLI 46495):
'To carry out wholesale trading of various game tools and children's toys, both traditional and

modern games such as board games.

- Wholesale trading in Laboratory, Pharmaceutical and Medical Eguipment for Human (KBLI 46691):
To carry out wholesale trading business in Laboratory, Pharmaceutical and Medical Eguipment for
Human.

- Wholesale trading in Cosmetics for Humans (KBLI 46443):
To carry out wholesale trading in cosmetics, for humans such as perfume, soap, powder and others.

- Wholesale trading in Household Appliances Eguipment (KBLI 46491):
To carry out wholesale trading of household appliances eguipment, such as furniture, kitchen and
cooking eguipment, lighting and eguipment, consumer electronics such as radios, televisions, CD
and DVD recorders and players, stereo eguipment, video game consoles, lighting tools, various
porcelain and glass drinking utensils, utensils for spoons, knives, forks, wooden utensils, articles
made of wicker and articles made of cork, carpets and etc,

- Wholesale trading in household Appliances and Eguipment which is not included in the other

(KBLI 46499),
To carry out wholesale trading of various other household goods and supplies, such as leather goods,

luggage, cleaning tools and s0 on. Includes sound and video recordings on cassettes, CDs and DVDs,
household chemicals (detergents, floor cleaners, etc.), and educational aids.

b. Transportation, Warehousing and Storage:
- Motorized Transportation for General Goods (KBLI 49431),
To carry out an operational of transporting goods using motorized vehicles and can transport more
than one type of goods, such as transportation by truck, pick-up, open pickup and closed box.

- Warehousing and Storage (KBLI 52101),
To carry out a business that conducts temporary storage of goods before the goods are sent to their
final destination, for commercial purposes.

- Multimodal Transportation (KBLI 52295):
To carry out a business of transporting goods by using at least 2 (two) different modes of
transportation on the basis of 1 (one) contract as a multimodal transportation document from one
place where goods are received by a multimodal transportation business entity to a place
determined for delivery of goods to a multimodal freight consignee. Multimodal transportation
business entitics not only provide goods transportation services from the place of origin to the
destination, but also provide additional services in the form of freight forwarding, warehonsing
services, cargo consolidation services, provision of cargo space, and customs clearance for
multimodal transportation Multimodal transportation business entities not only provide goods
transportation services from the place of origin to the destination, but also provide additional
services in the form of freight forwarding, warehousing services, cargo consolidation services,

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provision of cargo space, and customs clearance for multimodal transportation abroad and into the
country.

- Courier Activities (KBLI 53201):
To carry out a commercial delivery service business other than universal postal delivery activities.
Its activities include collection/pick-up, sorting/ processing, transportation and delivery of letters,
documents, parcels, goods and packages, both domestic and international, through companies using
One or more types of transportation and their activities can use private or public transportation. This
activity includes all postal service activities whose types and rates of service are determined by the
postal operator based on a cost-based caleulation formula as stipulated by the government.

The main business activities of the Company that are actually carried out by the Company are in the field
of Wholesale Trade and Transportation, Warehousing and Storage.

d. Composition of the Board of Commissioners and Directors of SNS
The composition of the Board of Commissioners and Board of Directors based on the Meeting Resolution
notarised in accordance. with Notarial Deed. No. 2 dated 12 April 2023 of Dr. H. Dhody AR
Widjajaatmadja, SH is as follows:

Board.of Commissioners

President.Commissioner |: | Hardianto Atmadja
Commissioner 20 | Fransiskus Johny Soegiarto
Commissioner :. | Johannes Setiadharma
Commissioner £ | Neeraj Kumar Goyal
Commissioner » | Gary Thomas Fischbein

Board of Directors

President Director 2 | Ruli Setiawan S.L. Tobing
Director 1. | Aries Soelistyo

Director : Nanang Febrianto
Director 1 | Sunil Maheshwar Behere

IL INFORMATION ON CHANGES IN BUSINESS ACTIVITIES SNS

For the avoidance of doubt, this Information Disclosure in relation to the plan to add SNS business activities asa
controlled company of GPPJ is to fulfil the provisions of Article 32 of the Financial Services Authority Regulation
No.17/POJK.04/2020, namely:

"In the event that the change of Business Activities is carried out by a Controlled Company which is not a Public

Listed Company and whose financial statements are consolidated with the Public Listed Company, the Public

Listed Company shall be obliged to fulfil the provisions as stipulated in this Financial Services Authority

Regulation to the extent that the revenue contribution of the Controlled Company is 208 (twenty per cent) or

more of the revenue of the Public Listed Company based:

a. the annual consolidated financial statements of the Public Listed Company, if the financial statements of the
Controlled Company have been consolidated: or

b. pro forma consolidated financial information of the Public Listed Company reviewed by an Accountant if the
financial statements of the Controlled Company have not been consolidated in the annual financial statements
of the Public Listed Company."

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'Therefore, although the plan to increase business activities is not carried out by the Company but by SNS as a
controlled company of the Company, the Company is obliged to fulfil the provisions in the Financial Services
Authority Regulation No.17/POJK.04/2020 ("POJK 17/2020”).

And as stipulated in the Financial Services Authority Regulation No.17/POJK.o4 /2020, to conduct a feasibility
study on the Change of Business Activities to be carried out by the Company, SNS has appointed an Independent
Appraiser, namely the Public Appraisal Services Office of KJPP Asrori Dan Rekan ("KJPP"), to provide a
feasibility study report, in accordance with the Agreement for the Preparation of Feasibility Study for the addition
of PT Sinarniaga Sejahtera's Business Field No. 0t1/KJPP-AS/SNS-1KBLI/FS/V/2023 dated 15 May 2023 which
has been approved, as an official appraiser and registered as a capital market supporting professional services
office in OJK with a Registered Certificate of Capital Market Supporting Profession from OJK No. SITD.PBB-
24/PM.2 /2018 as a Business Appraiser.

KJPP used SNS's audited Financial Statements for the previous 5 (five) years period, namely:

« Period 2018 - The Financial Statements have been audited by Public Accounting Firm Purwantono, Sungkoro
& Surja (Member of Ernst & Young Firm) as stated in its report number: 01597/2.1032/AU.1/05/1561-
1/1/VI/2019 dated 27 June 2019 with a fair opinion in all material respects,

« Period 2019 - The Financial Statements have been audited by Public Accounting Firm Purwantono, Sungkoro &
Surja (Member of Ernst & Young Firm) as stated in its report number: 00980/2.1032/AU.1/05/0692-
1/1/V/2020 dated 8 May 2020 with a fair opinion in all material respects,

# Period 2020 - 'The Financial Statements have been audited hy Public Accounting Firm Purwantono, Sungkoro
& Surja (Member of Ernst & Young Firm) as stated in its report number: 01517/2.1032/AU.1/05/0692-
2/1/VI/2021 dated 11 June 2021 with a fair opinion in all material respects,

« 2021 Period - The Financial Statemenis have been audited by the Public Accounting Firm: Tanudiredja,
Wibisana, Rintis & Rekan (Member Firm of PWC Global Network) as stated in its report number:
00346/2.1025/AU.1/04/1737-1/1/111/2022 dated 17 March 2022 with a fair opinion in all material
respects, and

» Period 2022 - The Financial Statements have been audited by Public-Accounting Firm Tanudiredja, Wibisana,
Rintis & Rekan (Member Firm of PWC Global Network) as stated in its report number:
00301/2.1025/AU.1/04/1737-2/1/111/2023 dated 15 March 2023 with a fair opinion in all material
respects.

With Financial Ratios, as follows:

Current ratio"

2022 2021 2020 2019 2018
1048 0,893 0,895 1,053 1,030

“) (unit - times)

Solvability ratio (DAR)
2022 2021 2020 2019 2018
0,724 0,768 0,772 — 0,720 0,723

4) (unit - times)

Gearing ratio (DER)
2022 20621 2020 2019 2018
2,622 3,306 3.385 2,565 2,616

“) (unit - times)

Other current Financial Ratios can be found in the SNS Annual Report for the financial year 2022.

The following is an explanation of the (additional) Changes in Business Activities:

Wholesale Trade in Traditional Medicines for Human -KBLI 46442

Summary of Feasibility Study Report on the Plan to Add Business Activities of Wholesale Trade in
Traditional Medicines for Humans (KBLI 46442) PT Sinarniaga Sejahtera, Report No.
09095/2.0126-00/FS/05/0338/1/V1I/2023 on Business Feasihility Study Report on the Addition of
Business Fields dated 26 June 2023:

(cut Off date per date 31 December 2022)

Purpose and Objectives

'The purpose of the preparation of this Business Feasibility Study is to prepare a Feasibility Study document to
provide an opinion on the Business Feasibility of Addition of Business Field or Indonesian Standard Industrial
Classification (KBLI) 46442, a group that includes the business of wholesale trade in traditional medicine or
herbal medicine and health supplements for humans, from various aspects of feasibility, with the aim of the
interests of OJK and the Capital Market, primarily for Information Disclosure including the fulfilment of POJK
17/2020. This assignument is not to be used outside the context or purpose of the assignment.

Object of Feasibility Study

"The object of the Business Feasibility Study is SNS in connection with the addition of business fields, with an office
address at Jl. Wahab Affan No. 135, RT / RW oo2 / 002, Medan Satria Village, Medan Satria District, Bekasi City,
West Jaya Province, 17132, Telephone No.: (021) 8843210, Fax No.: -, email address: legal.sns@earudafood.co.id.

Assumptions and Limiting Conditions

a. The Feasibility Study Report is the result of KJPP Asrori & Rekan's (ASR) analysis of SNS's plan which is also
intended to be used as a fulfilment of the Indonesian Appraisal Code of Ethics ("KEPI") as well as the
Indonesian Valuation Standards ("SPI") Edition VII Year 2018, POJK 17/2020 and Circular Letter of the
Financial Services Authority of the Republic of Indonesia Number 17 /Seojk.04/2020 concerning Guidelines
for the Assessment and Presentation of Business Valuation Reports in the Capital Market ("SEOJK 17"):

b. The preparation of this Business Feasibility Study report is our interpretation of the data and information
obtained and available that we consider correct at the time of the preparation of this report. The assumptions
used may no longer be valid if there are appropriate or certain conditions that affect the accuracy of these
assumptions, such as the enactment of new government regulations or important changes in management,
political, teclmological, social and economic fields,

&. We shall not be liable for any loss as a result of an incorrect opiriion or conclusion arising from SNS data or
information that is relevant and significant to our opinion or conclusion, which we have not and/or have not
received from SNS,

d. We assume that SNS complies with all regulations set by the Government, particularly those related to the
company's operations, both in the past and in the future,

e. We did not-conduct a check on the legality of assets owned by SNS. We assume that there are no legality
issues with respect to SNS's assets, either in the past or in the future,

f. We assume that SNS has and will fulfil its obligations with respect to taxation, levies and/or other obligations
in accordance with applicable regulations,

8. We have reviewed the documents used in the process of preparing this Business Feasibility Study,

h. We fully rely on data and information from the management, as for the company's financial statements that
have been audited by the Public Accountant, we obtained from the management of the company or the
Assignor:

i. Data and information are obtained from reliable sources and data:

j. We use adjusted financial projections that reflect the reasonableness of financial projections made by
management with the ability to achieve (fiduciary duty):

k. We are responsible for the implementation of the preparation of the Feasibility study and the reasonableness
of the Financial projections,

l We declare that in the preparation of this Business Feasibility Study, we have acted objectively and
independently without any conflict and are not affiliated with the parties giving the Assignment and the

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Object of Assessment. We have no present or future interest or profit in relation to this assignment. The
compensation we receive is in no way influenced by the results of the opinions concluded in this Business
Feasibility Study.

We declare that the calculations and analyses in this Business Feasibility Study have been carried out
correctly,

We are not consultants with competence in environmental matters, and therefore are not responsible for any
actual or potential liabilities related to environmental matters,

This Feasibility Study Report is a non disclaimer opinion,

The appraiser is responsible for this Business Feasibility Study report and the final conclusion of this report.

Summary
A. Feasibility. Analysis Market Aspects

a.

The Central Bureau of Statistics recorded Indonesia's economic growth in 2022 at 5.3196 (yoy), in 2021 at
3.695 (yoy), while economic growth in 2020 contracted by minus 2.079 year on year (yoy), Meanwhile,
Indonesia's inflation in 2022 was 5.51596, in 2021 it was 1.869 or an increase compared to 2020 inilation of
1.689 yoy, This figure is lower than inflationin 2019 of 2.7296 yoy.
In addition to Indonesia's economic conditions, other factors that affect the Indonesian food, beverage and
traditional medicine market are technological factors, government policies/political factors, socio-cultural
forces, and environmental forces (natural environment).
Food and beverage processing is one of the most mature industries in Indonesia, with a large number of
businesses competing for sales. Most are small or micro enterprises, although a small number of large
companies dominate the market, such as PT Indofood CBP Sukses Makmur Tbk (ICBP), Wings Group,
and PT Garudafood Putra Putri Jaya Tbk, a subsidiary of Tudung Group.
Share of food expenditure by area of residence, The share of food expenditure in urban and rural areas has
a different pattern. Most of the expenditure of the population in rural areas is for food, while in urban
areas it is for non-food, The share of food expenditure in March 2021 was 49.25 per cent, a slight increase
compared to March 2020 of 49.22.per cent. This share of expenditure was influenced by the-share of food
expenditure in rural areas, which also increased compared to the previous year. The pattern of increasing
expenditure on food indicates poor food security because it reflects lower purchasing power or access to
food and declining welfare levels. The Covid-19 pandemic in March 2021 is still felt in rural areas. Unlike
in urban areas, the share of expenditure fell compared to the previous year, meaning that there was a
change. Slightly different from the pattern of the share of food expenditure from 2017-2019, according to
the area of residence, it can be seen that the share of food expenditure has always decreased both in urban
and rural areas.
PT Sinarniaga Sejahtera (PT SNS) which is a subsidiary of GPPJ, SNS distributes all products produced by
GPPJ throughout Indonesia. In addition to the products of GPPJ, the products distributed by SNS are
products produced by the principle of affiliated companies such as PT Tudung Putra Putri Jaya (parent
company), PT Suntory Garuda Beverage, PT Hormel Garudafood Jaya, PT Mulia Boga Raya, Tbk. and PT
Garuda Elang Nusantara.
Based on the sales performance of SNS from 2018 to 2022, it can be seen that the sales value has
experienced growth that tends to increase, except for 2020 when sales have decreased. This indicates that
the sales strategy/marketing implemented by the company is guite good and successful. In addition,
the strategy that will be carried out by the company to add new business fields in business lines that are
related and almost the same as the existing business, is a diversification strategy by adding new
customers, namely PT Jaya Mitra Kemilau ("PT JMK") and PT SOHO Global Health ("PT SOHO").
In Indonesia at present, there are several distribution companies of processed food and beverages as well
as traditional food and beverages such as herbal medicine, etc., which are competitors of SNS, including
PT Angsana Dwitunggal, distributor of Alanabi, PT Multiverse Anugerah Chemindo, PT Bina Mitra Jaya
Bersama, PT Subur Anugerah Indonesia, PT Hinsa Sejahtera Indonesia, CV Wisnu JKW, PT Moringa
Organik Lombok, and CV Vitorio Jaya.
h. Along with the prospects for the Indonesian economy which is predicted to grow higher in 2029 than in
previous years, taking into account the conditions of opportunities and challenges in the company's
external environment and taking into account the strengihs and weaknesses of SNS's internal

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environment, the performance of the Food and Beverage Industry including traditional medicine is
projected to continue to increase. Improved household consumption and investment levels are
important factors in driving the growth of the Food and Beverage Industry and traditional medicine, s0
that SNS's business sustainability is maintained.

Related to the plan to add new business ficids, it is the company's business development strategy
through diversification into related businesses. The strategy of diversification into related businesses
by adding new business fields involves the company around businesses where there is a good strategic
fit across the corresponding value chain activities. A strategic fit exisis whenever one or more activities
forming different business value chains are similar enough to present opportunities for cross-business
sharing or transfer of resources and enabling capabilities in the activities, that is, it implies the
existence of competitively important cross-husiness similarities between the existing business and the
addition of new business lines.

In addition, the company already has personnel for purchasing merchandise, managing storage, selling
merchandise, shipping and distributing merchandise to customers. Other resources that support value
chain activities related to cross-business are the name of distributors who have experience and
credibility that have had a good relationship between the principle and marketing agent, SNS, which is
a subsidiary of GPPJ.

B. Peasibility Analysis Technical Aspects

a.

PT Sinarniaga Sejahtera (SNS) as the authorised distributor of PT Garudafood Putra Putri Jaya, Tbk's

(GPPJ) products, is responsible for distributing GPPJ's products to all distribution areas exclusively in

accordance with the provisions, terms of business, sales and trade, namely: (1) SNS shall not have the

right to distribute similar products owned by competitors, (2) shall establish a modern market

department organisational structure along with its own separate Warehouse and/or Depot in certain

distribution areas based on the agreement between GPPJ and SNS.

Depot is an office of SNS which functions as a storage place for GPPJ's products and as a sales office of

SNS complete with its sales team for the coverage area determined by SNS.

GPPJ as a merchandise manufacturer, is responsible for delivering PT SNS's ordered products to

SNS's Depots, Sub Distributors (companies or people appointed by PT SNS to assist in the sale and

distribution of products, have a sales team, fleet, and warehouse and have a coverage area determined

by SNS), Star Outlet (SO) (a group of wholesalers registered with SNS who receive special treatment

from SNS, because these wholesalers have the potential to buy GPPJ products in large guantities, have

a good payment history, have many customers who are evenly distributed in one or more regions,

have a fleet, and have an unspecified coverage area).

The procedure for handling products is carried out based on the "door to door" system, where if thc

delivery of products has been carried out by GPPJ to and has been received by SNS at the Depot, Sub

Distributor and SO, then the responsibility for the product passes from GPPJ to SNS.

SNS as a distributor shall continuously ensure the smooth distribution and sale of products evenly and

on time to the distribution points determined by SNS and GPPJ.

SNS and GPPJ are two companies that are under one holding company, namely the Tudung Group.

SNS plays an important role in determining the development of GPPJ products in terms of bringing

products to the hands of consumers in Indonesia. Products that have been marketed by GPPJ include

nuts, biscuits, drinks, and so on.

To be able to meet the demands and market demand for GPPJ products to remote areas throughout

Indonesia, SNS has several Regions such as the DKI Region, West Java Region, Bali & Nusa Tenggara

Region and several other Regions.

Each Region oversees a number of Depots in charge of serving hundreds of thousands of customer

outlets throughout Indonesia. SNS distribution network is supported by integrated technology

infrastructure from warehouse, Jabour, ordering, delivery to billing.

SNS as a distributor company to support its operations is eguipped with resources in the form of

physical and non-physical facilities spread across Indonesia in the form of:

a) Head office of SNS at Jalan Wahab Affan, No. 135, Medan Satria Village, Medan Satria Sub-
district, Bekasi City, West Java Province, 17132, Telephone No.: (o21) 8843210, Fax No.: (021)
8843210, email address: : -, email address: legal.sns@garudafood.co.id.

14

b) Warehousing facilities as many as 115 Warehouses (Depots) spread throughout Indonesia which
are divided into 4 Areas, namely (1) Area-1 South Sumatra (South Sumatra, Lampung, Bengkulu),
Central Sumatra (Jambi, Riau, West Sumatra) & North Sumatra (North Sumatra): (2) Area-2
West Java, Banten & West Kalimantan, (3) Area-3 Bali, Nusa Tenggara, Central Java & East Jaya,
and (4) Area-4 Central Kalimantan, East Kalimantan, South Kalimantan, South Sulawesi, Central
Sulawesi, North Sulawesi & Gorontalo.

C) Vehicles spread across Areas and Regions throughout Indonesia are small vehicles owned by SNS
totalling 401 units, large vehicles (CDD & CDE) 543 units owned by SNS, and forklifts with rental
status of 49 units.

d) Human Resources (HR) currentiy available at SNS consists of a permanent workforce
(permanent) of 3,774 people, daily casual labour of 77 people, outsourced labour of 77 people.

Currently SNS has more than 125 Depots and 160 Sub-Distributors and Agents, and currently SNS has
more than 280,000 active customers (as of January 2023). The products distributed by SNS are the
existing business products of GPPJ and additional business products to be produced by PT JMK and
PT SOHO, where the two types of products produced by the two companies and distributed by SNS
are different products.

C. Feasibility Analysis Business Pattern Aspect

a

A company's business pattern sets out the logic of how its strategy will make/create value for the
company or customers generating sufficient revenue to cover costs and realise profits. The business
pattern run by PT Sinarniaga Sejahtera (SNS) is a distributor business, As a distributor, SNS does not
need to produce raw materials into finished goods, but SNS needs to cooperate with finished goods
suppliers or manufacturing companies as the principle that produces merchandise to be distributed to
consumers.

Until now, SNS as a distributor has cooperated by making a Cooperation Agreement between SNS as a
distributor and GPPJ / PT Mulia Boga Raya Tbk. as a principle that sells its products to be marketed
to consumers.

'The competitive advantage that has been achieved by SNS over the past 5 years can be seen from the
financial performance of NS, especially the company's profit and loss statement in the last 5 years
where the company has made profits which have tended to increase every year, except for the year
2020.

'The competitive advantage that has been achieved by SNS over the past 5 years can be seen from the
financial performance of SNS, especially the company's profit and loss statement in the last 5 years
where the company has made profits which have tended to increase every year, except for 2020.

D. Feasibility Analysis of Management Model Aspects

a

SNS is a closely held company with Foreign Direct Investment (PMA) status, which is a subsidiary of
PT Garudafood Putra Putri Jaya Tbk (GPPJ), which is a public company (Tbk), with 54.959 share
ownership, while the other share ownership is Greatwall Capital Pte. Ltd. 34.005, and others (with
ownership below 596) amounting to 11.054.

"The Commissioners and Directors of SNS are experienced in the general trading business, which is
very helpful in carrying out the continuity of the implementation of SNS's Business Field Additions,
The current workforce of SNS consists of 3,777 permanent workers, 77 casual workers and 760
outsourced workers, With the plan to expand the business ficld, there will be no addition of new
workers, the workforce that has been available in the existing business will be further optimized and
will increase its competence through education and training.

Based on data and information from SNS, until now SNS has owned Registered Trademarks as
intellectual property, namely (1) Trademark: SNS, Registration Number: IDM000341667, Class: 29
(based on Nice Classification gth edition) and (2) Trademark: SNS, Registration Number:
IDMo00302934, Class: 35 (based on Nice Classification gth edition).

In the business operations of SNS distributors, there are several risks that need to be controfled and
minimised according to the type of risk, including (1) the risk of fluctuations in the Rupiah exchange
rate against foreign currencies, (2) the risk of interest rates on bank loans, (3) the risk of smooth

15

payment of credit principal: and (4) the operational risks of SNS distributor business, including the
credibility and fairness of the business plan, the risk of cash and cash eguivalents balance, the risk of
old aecounis receivable, the company's liguidity risk, the risk of the company's capital structure, the
risk of the reliability of SNS distribution infrastructure and production facilitics.

E. Feasibility Analysis of Financial Aspect

a. The addition of SNS's new business field in the Indonesian Standard Industrial Classification (KBLI)
46442, a group that includes wholesale trade in traditional medicine or herbal medicine and healih
supplements for humans, there is no plan to increase the capital expenditure (capex) budget, but
additional net working capital is reguired.

b. With the addition of a new line of business, it will increase the profit or profit of SNS, which is
reflected in the Present Value of Free Cash Flow (accumulated Net Profit from the addition of a line of
business 4 depreciation & amortisation #/- change. in net working capital) after 5 years, reaching a
present value of IDR80,580,930,000.

c. “The results of the feasibility analysis of SNS's business with the addition of a new business field
resulted in an Internal Rate of Retum (IRR) of 29.8548 or an increase compared to if there was no
addition of a business field with an IRR of 19.85556.

d. The results of the break even point (BEP) analysis of SNS's business with the addition of a new
business field resulted in a BEP of Rp233,495,927,000 (78.4286) or an increase compared to the
absence of additional business fields with a BEP of Rp231,396,525,000 (78.901).

e. The results of the Return on Investment (ROI) analysis of SNS's business with the addition of a new
business field resulted in an ROI with an average over 5 years of 8.844 or an increase compared to if
there is no additional business field with an ROI of 8.6256.

£ The results of the Return on Eguity (ROE) analysis of PT SNS's business with the addition of a new
line of business resulted in an ROE with an average over 5 years of 16.599 or an increase compared to
1 there was no additional line of business with an ROE ot 16.2096.

Business Feasibility Opinion

Based on the results of the business feasibility analysis on market aspects, technical aspects, business pattern
aspects, management model aspects, and financial aspects as described in the Business Feasibility Study
Report, we are of the opinion that the plan to add KBLI 46442 PT SNS is feasible.

Availability of Expertise

In connection with the plan to increase the business activities of the Wholesale Trade in Traditional
Medicines for Humans, there is no increase in the number of new workers, the workforce that has been
available in the existing business will be further optimized and will increase its competence through
education and training.

Considerations and Reasons for (additional) Changes in Business Activities

Based on the company's sales performance from 2018 to 2022, the growth tends to increase, except for 2020
when the sales have decreased, indicating that the sales strategy carried out by the company is guite good and
successful. In addition, in order to improve the Company's performance in the future, the Company as a
company engaged in Wholesale Trade and Transportation, Warehousing and Storage, sees a business
opportunity in the business of Wholesale Trade in Traditional Medicines for Humans, where the business
Opportunity is a business activity that was not previously one of the Company's business fields and types of
business activities,

If the Change in Business Activities related to the Wholesale Trade of Traditional Medicines for Humans is
carried out properly, with reasonable supervision, the company will get an increasing profit which in turn the
value of the company, especially the eguity value, will also increase.

'Therefore, the Company plans to change its business activities as follows:

16

The Company declares that in relation to the Wholesale Trade of Traditional Medicines for Humans (KBLI-

46442), The Company:

« will immediately carry out the processing of the necessary licenses, either all licenses through OS$ (Online
Single Submission) or other Jicenses reguired to fulfill the reguirements in carrying out the Wholesale Trade
in Traditional Medicines for Humans including the Traditional Medicines Wholesale Trade (PBOT) license
after obtaining approval from OJK and GPPJ EGMS and/or other preliminary reguirements (if any).

« Currentiy, there are no agreements made in the context of the Change of Business Activities in the field of
Wholesale Trading of Traditional Medicines for Humans considering that the Company is still waiting to
obtain prior approval from OJK, EGMS and other licenses including the license for Wholesale Trading of
Traditional Medicines (PBOT) except for initial discussions with new customer candidates related to the
Change of Business Activities.

Effect of (additional) Changes in Business Activities on Financial Condition
'The effect of changes in business activities on the Company' financial condition as explained above that it is
expected that with the plan to add business fields, it can be concluded that the plan for the Change of

Business Activities is financially feasible and profitable.

11. ADDITIONAL INFORMATION

. The Company plans to immediately carry out (additional) changes in business activities, namely Wholesale
Trading of Traditional Medicines for Humans (KBLI- 46442) after ohtaining approval from OJK, GPPJ EGMS
and after taking care of induding the Traditional Medicines Wholesale Trading (PBOT) license and all other
Ticenses (if any).
. There is no need for approval / consent from the Company's creditors regarding the Company's plan to change
its business activities, only notification to creditors after the EGMS is completed for changes to the Coimpany's
articles of association.
| Currentiy, the Company is not involved in any material case either in Court or out of Court disputes that may
negatively affect the Company's business continuity and Business Activity Change Plan.
. The Company ensures to always fulfill from time to time all applicable regulations in the Republic of Indonesia
as well as the provisions of the restrictions that apply and are applied to the Company in the existing agreement
so as not to conflict with the existing rules and agreements that may harm the interesis of any party including
the interests of public shareholders.
. Information related to Public Accounting Firm and Public Accountant
- Public Accountant Firm
KAP Tanudiredja, Wibisana, Rintis & Rekan Member Firm of PwC Global Network, WTC 3 Building, Jl. Jend.
Sudirman, Kav. 29-31 Jakarta 12920, Indonesia, Tel: “62 21 50992901 / 31192901

- Public Accountant
Ms. Ely No.AP.1737

| This Disclosure of Information is made in Indonesian and English, where the English version is intended for
reference only. Therefore, in the event of any difference in meaning or interpretation, the Indonesian version
shall prevail and be binding.

. For further information regarding the above matters, please contact GPPJ during working hours at the
address:

17

Paulus Tedjosutikno

PT Garudafood Putra Putri Jaya Tbk

Corporate Secretary
Head Office:
Wisma GarudaFood
Jl. Bintaro Raya No. 10A, Jakarta 12240
Phone (021) 729 0110, Fax. (021) 729 o112
Website: www.garudafood.co
Email: corporate.secretary@garudafood.co.id

Sincerely yours,

Dani s0agt4n77

Director Director

Robert Chandrakelana Adjie

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