20250630_INDR_Informasi Transaksi Afiliasi_31909787_lamp1.pdf

                                                                                   PT. Indo-Rama Synthetics Tbk




                           Final Value conclusion.
                      3.   The market value in question reflects the actual value without
                           considering any liability for taxes or fees related to the sale
                           transaction. Shares are valued based on the assumption that they are
                           free from all mortgages and disputes and are freely marketable.
                      4.   The values listed in this report and any other values in the report that
                           are part of the property being appraised are only valid in accordance
                           with the intent and purpose of the appraisal. The values used in this
                           report should not be used for other assessment purposes which could
                           result in errors.
                      5.   The analysis of financial projections from IRS has been adjusted so
                           that it reflects the fairness of the projections with the ability to achieve
                           (fiduciary duty). The appraiser is responsible for the implementation
                           of the assessment and the fairness of the financial projections.
                      6.   UJI will operate its business prudently in accordance with the
                           principles of good management. We also do not predict significant
                           economic changes that could affect UJI, both markets and industries
                           in an unexpected way.
                      7.   There is no hidden information that has the potential to significantly
                           burden UJI in the future which can affect value.
                      8.   This Assessment Report is a non-disclaimer opinion, we have
                           reviewed the documents used in the assessment process, the data and
                           information obtained are from IRS and from other reliable sources.

Approach and method   The assessment is carried out using the most suitable approach, namely:
of Appraisal
                      The Asset Approach with the Cost Approach produces an indication of
                      value using the economic principle, where the buyer will not pay more for
                      an asset than the cost to acquire an asset with the same or equivalent use,
                      at the time of purchase or construction.

                      From the results of the asset approach to achieve market liquidity because
                      UJI is a private company and what is assessed is for majority or 100% of
                      UJI shares, a Discount for Lack of Marketability of 40% is imposed.

Value Conclusion      The market value of 100% of shares of UJI as of 31 March 2025 IDR
                      230,307,000# (Two hundred thirty million three hundred seven thousand
                      Rupiah).

                                                                                  PT. Indo-Rama Synthetics Tbk




Other Information

 Proforma impact of the transaction      The Transaction is not expected to cause any disruption of
 on the financial condition of the       the business continuity of IRS.
 Public Company, in the case of a
 potential transaction resulting in
 disruption of the business continuity
 of the Public Company
 Explanation, consideration, and         This transaction is enabling IRS to make an investment in
 reasons for conducting the Affiliated   the minerals sector as UJI holds 51% shares in PT.
 Transaction, compared to if other       Tigadaya Minergy, a company engaged in the business of
 transactions of the same type are       coal mining.
 made that are not carried out with an
 Affiliated party


BOARD OF COMMISSIONERS AND BOARD OF DIRECTORS DECLARATION

The Board of Directors of the Company hereby declares that the affiliated transactions have gone through
adequate procedures to ensure that the Affiliated Transactions are carried out in accordance with generally
accepted business practices.

The Board of Commissioners and Board of Directors of the Company hereby state that:
(a)     This Affiliated Transaction does not contain a conflict of interest; and
(b)     All material information has been disclosed and the information is not misleading.

Yours faithfully,
PT. Indo-Rama Synthetics Tbk




Vishnu Swaroop Baldwa
President Director

cc: PT Bursa Efek Indonesia