20230703_KKGI_Informasi Transaksi Afiliasi_31335982_lamp2.pdf

  ▪   Penilai telah melakukan penelaahan atas dokumen-dokumen yang
      digunakan dalam proses penilaian.
  ▪   Data dan informasi yang diperoleh berasal dari sumber yang dapat
      dipercaya keakuratannya.
  ▪   Penilai usaha bertanggung jawab atas pelaksanaan penilaian dan
      kewajaran proyeksi keuangan.
  ▪   Laporan penilaian usaha bersifat terbuka untuk publik kecuali
      terdapat informasi yang bersifat rahasia yang dapat mempengaruhi
      operasional perusahaan.
  ▪   Penilai usaha bertanggung jawab atas laporan pendapat kewajaran.
  ▪   Kami telah memperoleh informasi bahwa tidak terdapat masalah
      hukum atas objek penilaian.
  ▪   Laporan pendapat kewajaran yang menyatakan hasil analisis,
      pendapat dan kesimpulan ini, dibuat berdasarkan pada Standar
      Penilaian Indonesia (SPI) Edisi VII-2018 dan POJK No. 35/POJK.04/2020
      tentang Penilaian dan Penyajian Laporan Penilaian Bisnis di Pasar
      Modal.
  ▪   Laporan keuangan proforma Perseroan per 31 Desember 2022 disusun
      oleh Manajemen Perseroan dan PTS.
  ▪   Menggunakan proyeksi keuangan yang telah disesuaikan yang
      mencerminkan kewajaran proyeksi keuangan yang dibuat oleh
      Manajemen dengan kemampuan pencapaiannya (fiduciary duty).
  ▪   Data proyeksi laporan keuangan sebelum dan setelah Rencana
      Transaksi serta dampak keuangan dari Rencana Transaksi kami
      peroleh dari Manajemen Perseroan.

e. Metodologi Penilaian

  Dalam menyusun Pendapat Kewajaran atas Rencana Transaksi ini, Penilai
  telah melakukan analisis sebagai berikut :
  - Analisis Transaksi
  - Analisis Kualitatif
  - Analisi Kuantitatif
  - Analisis Kewajaran Transaksi

f. Kesimpulan
   Berdasarkan analisis transaksi, analisis kualitatif, analisis kuantitatif dan
   analisis kewajaran transaksi, kami berpendapat bahwa rencana transaksi
   afiliasi melalui transaksi penyewaan ruang kantor beserta furnitur dan
   perlengkapannya yang dilakukan PT Resource Alam Indonesia, Tbk adalah
   wajar.

SUMMARY OF THE FAIRNESS OPINION



  I.       Appraiser Identity

        Public Appraisal Service Consultant (KJPP) Budi, Edy, Saptono and Partners is a
        legal entity in the form of an association that already has a Business License
        from the Minister of Finance Number: 2.09.0033 through the Decree of the
        Minister of Finance Number: 402/KM.1/2009, dated April 22, 2009 appointed by
        the Company based on Proposal for Compilation of Fairness Income Services
        No. 004/bs-BEST/RAIN-FO/I/23, dated 18 January 2023.



  II.      Appraisal Summary
           a. Purpose and Objective

              The purpose of preparing a fairness opinion is to provide a fairness
              description of the Company's plan to lease office space and its furniture
              and equipment.

              The purpose of preparing the fairness opinion is to comply with POJK No.
              42/POJK.04/2020 Concerning Affiliated Transactions and Conflicts of
              Interest Transactions.

           b. Transaction Plan Object

              The object of the Proposed Transaction in preparing this fairness opinion
              is the proposed transaction for renting office space and its furniture and
              equipment.

           c. Appraiser Date

              The effective date of the valuation is December 31, 2022, where the
              limit is taken on the basis of consideration of the interests and
              objectives of the valuation.

           d. Assumptions and Limiting Conditions

                  •   Business appraisal report is a non-disclaimer opinion.
                  •   We have prepared this fairness opinion report to fulfill the
                      requirements, especially in supporting the Company to obtain a
                      fair view from an independent opinion related to the Proposed
                      Transaction for renting office space and its furniture and
                      equipment, where this fairness opinion will be addressed to
                      shareholders, but not intended for anything other than that. If
                      there are other parties who use this report for other purposes, we
                      declare that this report cannot be used, including as a reference
                      or shown to other parties, unless ordered by a court or the
                      authorities, without written permission from us. KJPP BEST is not

            responsible for the use of the contents of this report to other
            parties outside the Company.
        •   In carrying out professional assignments, appraisers have carried
            out independent assessments.
        •   Appraiser has conducted a review of the documents used in the
            appraisal process.
        •   Data and information obtained comes from sources that can be
            trusted for accuracy.
        •   The business appraiser is responsible for the implementation of the
            appraisal and the fairness of the financial projections.
        •   Business appraisal reports are open to the public unless there is
            confidential information that may affect the company's
            operations.
        •   The business appraiser is responsible for the fairness opinion
            report.
        •   We have received information that there is no legal issue
            regarding the object of the valuation.
        •   The fairness opinion report stating the results of this analysis,
            opinion and conclusion, was prepared based on the Indonesian
            Assessment Standards (SPI) Edition VII-2018 and POJK No.
            35/POJK.04/2020 concerning Assessment and Presentation of
            Business Valuation Reports in the Capital Market.
        •   The Company's pro forma financial statements as of December
            31, 2022 were prepared by the Company's Management and
            PTS.
        •   Use adjusted financial projections that reflect the fairness of
            financial projections made by Management with their fiduciary
            duty.
        •   Data on the projected financial statements before and after the
            Transaction Plan and the financial impact of the Transaction Plan
            we obtain from the Company's Management.

e. Assessment Approach and Methodology

     In compiling the Fairness Opinion on the Transaction Plan, KJPP BEST has
     carried out the following analysis:
     - Transaction Analysis
     - Qualitative Analysis
     - Quantitative Analysis
     - Transaction Fairness Analysis

f.   Conclusion
     Based on the transaction analysis, qualitative analysis, quantitative
     analysis and analysis of the fairness of the transaction, the appraiser is of
     the opinion that the plan for affiliated transactions through transactions
     involving the leasing of office space and its furniture and equipment by
     the Company is reasonable.