20260622_EMAS_Tanggapan atas Permintaan Penjelasan Bursa_32102824_lamp1.pdf

PT Merdeka Gold Resources Tbk

V/

(Cd

Treasury Tower Lt 67, District 8. SCBD Lot 28

Jalan Sudirman Kav 52-53 T. (462) 2139525585 MERDEKA

Senayan Kebayoran Baru £ (462) 21 39525588 GOLD

Jakarta Selatan, DKI Jakarta 12190 www merdekagolaresources com sesounces
LAMPIRAN/ APPENDIX

Sehubungan dengan pertanyaan yang disampaikan
terkait rencana pencatatan Hong Kong Depositary
Receipts (“HDR”) Perseroan pada Hong Kong Exchanges
and Clearing Limited (“HKEX”), yaitu Dokumen Hong
Kong Underwriting Agreement tertanggal 16 Juni 2026
dan Surat Perseroan nomor 088/EMAS-
JKT/CORSEC/VI/2026 tertanggal 17 Juni 2026 perihal
Laporan Informasi atau Fakta Material, Perseroan
dengan ini menyampaikan tanggapan sebagaimana
diuraikan di bawah ini.

Tanggapan Perseroan disusun dengan mengacu pada
Prospektus Registrasi HDR Perseroan tertanggal 17 Juni
2026 yang telah dipublikasikan dan tersedia pada situs
resmi Hong Kong Exchanges and Clearing Limited
melalui tautan berikut:

s://www1.hkexnews.hk/liste

serta informasi dan keterbukaan informasi lainnya yang
telah disampaikan Perseroan kepada publik sesuai
dengan ketentuan peraturan perundang-undangan
yang berlaku. Untuk memudahkan penelaahan,
Perseroan mencantumkan referensi bagian dan/atau
halaman Prospektus Registrasi HDR yang relevan pada
masing-masing tanggapan.

1. Tujuan Perseroan menerbitkan HDR
Tanggapan:

Penerbitan dan pencatatan HDR di HKEX bertujuan
untuk memperluas akses investor internasional
terhadap Perseroan, meningkatkan visibilitas dan
profil Perseroan di pasar modal global, serta
memperluas basis investor yang dapat berpartisipasi
dalam investasi pada Perseroan. Selain itu,
pencatatan HDR di HKEX diharapkan dapat
memperkuat posisi Perseroan di pasar modal
internasional dan mendukung pengembangan usaha
Perseroan ke depan. (Lihat Prospektus Registrasi
HDR, bagian History and Corporate Structure,
halaman 161).

In response to the inguiry regarding the Company's
proposed listing of Hong Kong Depositary Receipts
CHDRs”) on Hong Kong Exchanges and Clearing
Limited (“HKEX”), namely the Document of Hong
Kong Underwriting Agreement dated 16 June 2026
and the Companys Letter No. 088/EMAS-
JKT/CORSEC/VI/2026 dated 17 June 2026, regarding
the Report on Material Information or Facts, the
Company hereby provides its response as set out
below,

The Company's responses has been prepared with
reference to the Company's HDRs Registration
Prospectus dated 17 June 2026, which has been
published and is available on the Hong Kong
Exchanges and Clearing Limited's official website
through the following link:

as well as other information and disclosure of
information that the Company has provided to the
public in accordance with the provisions of the
applicable laws and regulations. To facilitate review,
the Company has included references to the releyant
sections and/or pages of the HDRs Registration
Prospectus in each response.

1. The Company purpose in issuing HDRS

Response:

The issuance and listing of HDRs on HKEX are
intended to broaden international investor
access to the Company, enhance the Company's
visibility and profile in the global capital
markets, and expand the investor base that may
participate in investments in the Company. In
addition, the listing of HDRS on HKEX is expected
to strengthen the Company's position in the
international capital markets and support the
Company's future business development. (Refer
to the HDR Registration Prospectus, History and
Corporate Structure sections, page 161).

PT Merdeka Gold Resources Tbk

Treasury Tower Lt 87, Distnet

Jalan

Senayan, Kebayaran Baru 162) 2
Jakarta Setatar Karta 1219

2.

. Dampak penerbitan

SCBD Lot 28

3! Sudwman Kav. 52-53

162) 21 39525585
39525586
www merdekagolare

Gs
MERDEKA

GOLD

urce Resounces

Jumlah maksimal HDR yang dapat diterbitkan 2. The maximum number of HDRs shares that the

Perseroan setelah pencatatan HDR HKEX.

Tanggapan:

Berdasarkan Prospektus Registrasi HDR, Perseroan
menawarkan sebanyak 89.668.600 HDR dalam
Global Offering dengan kemungkinan penambahan
melalui pelaksanaan Opsi Penjatahan Lebih sesuai
ketentuan yang berlaku. jumlah HDR yang beredar
dapat berubah dari waktu ke waktu sehubungan
dengan mekanisme konversi saham menjadi HDR
maupun HDR menjadi saham sesuai ketentuan yang
berlaku. (Lihat Prospektus Registrasi HDR, halaman
sampul dan bagian Structure of the Global Offering,
halaman 339-346).

HDR
kepemilikan saham di Bursa.

terhadap

Tanggapan:

Penerbitan HDR dilakukan berdasarkan saham yang
menjadi underlying shares HDR dan tidak dilakukan
melalui penerbitan saham baru oleh Perseroan. Oleh
karena itu, transaksi HDR tidak mengakibatkan dilusi
terhadap pemegang saham Perseroan yang ada.
Seluruh HDR yang ditawarkan merupakan Sale HDR
yang berasal dari saham milik selling shareholders
dan Perseroan tidak menerima hasil penjualan HDR
tersebut. Struktur kepemilikan saham Perseroan
akan tetap mengikuti jumlah saham yang telah
diterbitkan oleh Perseroan, sedangkan HDR
merupakan instrumen yang merepresentasikan
kepentingan atas saham yang menjadi underlying
shares tersebut. (Lihat Prospektus Registrasi HDR,
bagian Summary, Substantial Shareholders, dan
Structure of the Global Offering, halaman 1, 282, dan
339-346).

Manfaat yang diharapkan dari penerbitan HDR 4.

terhadap pasar modal Indonesia.
Tanggapan:

Perseroan menyampaikan bahwa pencatatan HDR
diharapkan dapat:

struktur 3.

Company may issue following the listing of the
HDR shares on HKEX,

Response:

Pursuant to the HDR Registration Prospectus, the
Company is offering 89,668,600 HDRs in the
Global Offering, with the possibility of an
additional allocation through the exercise of the
Over-allotment Option in accordance with
applicable regulations. The number of HDRSs in
circulation may change from time to time in
connection with the mechanism for converting
shares into HDRs or HDRs into shares in
accordance with applicable regulations. (Refer to
the HDR Registration Prospectus, cover page and
the section entitled 'Structure of the Global
Offering', pages 339-346).

The impact of HDR issuance on the shareholding
Structure on the Stock Exchange.

Response:

The issuance of HDRS is based on the shares that
constitute the underlying shares of the HDRs and
does not involve theissuance of new shares by the
Company. Therefore, HDR transactions do not
result in dilution for the Company's existing
shareholders. All HDRs offered are Sale HDRS
derived from shares held by selling shareholders,
and the Company does not receive any proceeds
from the sale of these HDRs. The Company's
Shareholding structure will continue to reflectthe
number of shares already issued by the Company,
whilst HDRs are instruments representing an
interest in the underlying shares. (Refer to the
HDR Registration — Prospectus, — sections
Summary, 'Substantial Shareholders' and
“Structure af the Global Offering', pages 1, 282
and 339-346).

The expected benefits of the HDRS issuance to the
Indonesian capital market,

Response:

The Company hereby informs that the HDR listing
Is expected to:

PT Mei

Treasury Towe

rdeka Gold Resources Tbk

V/

(ed

Lt 67, Dist BD Lot 28

Jalan Jenderai Sudirman K. T (162) 21 39525585 MERDEKA
an Kebayoran Baru (462) 21 39525502 GOLD
ae KI Jakarta 12180 wwwmerdekagolaresources.com nesovacis

Jakort

1. memperkuat platform pasar modal Perseroan

dan meningkatkan profil internasional
Perseroan,
2. mendiversifikasi dan memperluas basis

pemegang saham melalui investor institusi
internasional,

3. meningkatkan likuiditas melalui akses ke pasar
modal global yang lebih luas:

4. memperkuat tata kelola perusahaan dan
standar pelaporan melalui kepatuhan terhadap
kerangka regulasi internasional, dan

5, meningkatkan fleksibilitas pendanaan untuk
pengembangan proyek — dan inisiatif
pertumbuhan Perseroan:

Selain itu, pencatatan HDR diharapkan dapat
meningkatkan aksesibilitas Perseroan bagi investor
internasional yang mencari eksposur pada sektor
emas Indonesia.

Hal ini sejalan dengan Laporan Informasi atau Fakta
Material Perseroan No. 041/EMAS-
JKT/CORSEC/II1/2026 tertanggal 25 Maret 2026
pada tautan berikut:

1. strengthen the Company's capital markets
platform and enhance the Companys
international profiles

2. diversify and expand the shareholder base
through international Institutional investors:

3. enhance liguidity through access to broader

@iobal capital markets:

strengthen corporate governance and

reporting standards through compliance with

international regulatory frameworks, and

5. enhance funding flexibility for the
development of the Company's projects and
growth initiatives.

4

Furthermore, the HDR listing is expected to
improve the Companys accessibility to
international investors seeking exposure to the
Indonesian gold sector.

This is consistent with the Company's Material
Information or Facts Report No, 041/EMAS-
JKT/CORSEC/II1/2026 dated 25 March 2026,
which is available at the following link:

ement/A| NCEMENTSTOCK,
03/24ha40f09a ab0cBee23e.pdf

Potensi dampak negatif yang dapat timbul dari 5. The potential adverse impacts arising from the

penerbitan HDR terhadap pasar modal Indonesia,
termasuk namun tidak terbatas pada risiko migrasi
likuiditas ke pasar Hong Kong dan dampaknya
terhadap pembentukan harga saham di Bursa.

Tanggapan:

Perseroan memahami bahwa pencatatan HDR dapat
menimbulkan risiko tertentu, termasuk potensi
pergeseran sebagian aktivitas perdagangan antara
Bursa Efek Indonesia dan HKEX, serta potensi
perbedaan harga sementara antara saham
Perseroan dan HDR yang diperdagangkan pada
masing-masing pasar. Namun demikian, Perseroan
mencatat bahwa terdapat mekanisme konversi
antara saham dan HDR yang diharapkan dapat
menjaga keterkaitan ekonomi antara kedua
instrumen tersebut. Risiko-risiko yang relevan
sehubungan dengan pencatatan HDR telah
diungkapkan dalam Prospektus Registrasi HDR.
(Lihat Prospektus Registrasi HDR, bagian Risk
Factors, halaman 62, 66-68: Listing, Terms of
Depositary Receipts and the Deposit Agreement,
halaman 309-328, dan Structure of the Global
Offering, halaman 339-346).

HDRSs issuance on the Indonesian capital market,
including but not limited to the risk of liguidity
migration to the Hong Kong market and its
Impacton share price formation on the Exchange,

Response:

The Company recognises that the listing of HDRS
may give rise to certain risks, including the
potential for @ shift in some trading activity
between the Indonesia Stock Exchange and
HKEX, as well as potential temporary price
discrepancies between the Company's shares and
the HDRs traded on each market. However, the
Company notes that there is a conversion
mechanism between the shares and the HDRS
which is expected to maintain the economic link
between the two Instruments. The relevant risks
@associated with the listing of the HDRs have been
disclosed in the HDR Registration Prospectus.
(Refer to the HDR Registration Prospectus,
section 'Risk Factors', pages 62, 66-68: Listing,
Terms of Depositary Receipts and the Deposit
Agreement, pages 309-328: and Structure ofthe
Global Offering', pages 339-346).

PT Merdeka Gold Resources Tbk

Treasury Tower Lt 67, District 8, t 28
Jalan Jenderai Sudirman Kav 5: 162) 21 39525565
Senayan Kebayoran Baru F (462) 21 39525588

Jakorta Selatar, DKI

karta 1216

untuk memastikan bahwa HDR dimiliki oleh
investor publik dan bukan oleh pihak terafiliasi,
pengendali, maupun manajemen Perseroan.
Termasuk di dalamnya mekanisme pemantauan,
pelaporan, dan penegakan ketentuan dimaksud
secara berkala.

Tanggapan:

Perseroan akan melaksanakan proses penawaran
dan distribusi HDR sesuai dengan ketentuan HKEX,
OJK, BEI dan peraturan pasar modal lainnya yang
berlaku. Selain itu, Perseroan akan memenuhi
kewajiban keterbukaan informasi dan pelaporan
sebagaimana dipersyaratkan oleh regulator yang
berwenang. Setelah HDR tercatat dan
diperdagangkan, kepemilikan HDR dapat berubah
sesuai mekanisme pasar yang berlaku. (Lihat
Prospektus Registrasi HDR, bagian Cornerstone
Investors, halaman 283-289: Structure of the Global
Offering, halaman 339-346: dan Listing, Terms of
Depositary Receipts and the Deposit Agreement,
halaman 320).

Penjelasan mengenai skema penerbitan HDR serta
proses konversi saham menjadi HDR dan
sebaliknya.

Tanggapan:

HDR diterbitkan berdasarkan saham Perseroan
yang menjadi underlying shares dan disimpan oleh
pihak yang ditunjuk sesuai mekanisme yang diatur
dalam Deposit Agreement. Pemegang saham dapat
melakukan konversi saham menjadi HDR,
sedangkan pemegang HDR dapat melakukan
pembatalan (cancellation) HDR untuk memperoleh
saham yang mendasarinya sesuai prosedur yang
berlaku. Mekanisme tersebut dimaksudkan untuk
memungkinkan pergerakan antara kedua instrumen
sesuai kebutuhan investor. (Lihat Prospektus
Registrasi HDR, bagian Listing, Terms of Depositary
Receipts and the Deposit Agreement, Registration,
Dealings and Settlement, halaman 309-328,
khususnya bagian Conversion of Shares to HDRs dan
Cancellation of HDRs and Conversion of HDRs to
Shares, halaman 328).

www merdekagaldresources com

7.

4,

MERDEKA
GOLD

Resources

6. Langkah-langkah konkret yang akan ditempuh 6. The concrete measures to be undertaken to

ensure that the HDRs is held by public investors
and not by affiliated parties, controlling
Shareholders, or the Company's management.
This includes the mechanisms for monitoring,
reporting, and periodic enforcement of the
relevant provisions.

Response:

The Company will conduct the offering and
distribution of HDRs in accordance with the
regulations of the HKEX, the OJK, the IDX and
other applicable capital market regulations.
Furthermore, the Company will fulfil its
disclosure and reporting obligations as reguired
by the relevant regulators. Once the HDRs are
listed and traded, ownership of the HDRs may
change in accordance with prevailing market
mechanisms. (Refer to the HDR Registration
Prospectus, sections 'Cornerstone Investors',
pages 283-289, Structure of the Global Offering',
pages 339-346, and “Listing, Terms of Depositary
Receipts and the Deposit Agreement' page 320).

An explanation of the HDRSs issuance scheme, as
well as the process for conversion of shares into
HDRs and vice versa.

Response:

HDRS are issued on the basis of the Company's
Shares, which serve as the underlying shares, and
are held by a designated party in accordance with
the mechanisms set out in the Deposit Agreement.
Shareholders may convert their shares into HDRS,
whilst HDR holders may cancel their HDRs ta
obtain the underlying shares in accordance with
the applicable procedures. This mechanism Is
intended to allow for the conversion between the
two instruments as reguired by investors. (See the
HDR Registration Prospectus, sections on Listing,
Terms of Depositary Receipts und the Deposit
Agreement, Registration, — Dealings — and
Settlement, pages 309-328, in particular the
sections on “Conversion of Shares to HDRs' and
“Cancellation of HDRs and Conversion of HDRSs ta
Shares', page 328).

PT Mara

loka Gold Resources Tbk

Cd

reasury Tower Lt 67, D 8. SCBD Lot 28
alan Jenderai Sudirman Kav 52-53 1 2139525585 MERDEKA
xyan Kebayoran Bar F (462) 21 30525588 GOLD
Jakarta Selatan, DKI ta 1219 www merdekagoldresource pesouRees
8. Informasi, fakta material atau kejadian penting &. Other important information/events that are

lainnya yang material dan dapat mempengaruhi
kelangsungan usaha perusahaan serta dapat
mempengaruhi harga saham perusahaan.

Tanggapan:

Perseroan menyampaikan bahwa sampai dengan
tanggal penyampaian tanggapan ini tidak terdapat
informasi, fakta material, atau kejadian penting
lainnya yang material yang belum diungkapkan
kepada publik selain sebagaimana telah
disampaikan oleh Perseroan sesuai dengan
ketentuan peraturan perundang-undangan yang
berlaku.

Sebagai bagian dari keterbukaan informasi kepada
publik sehubungan dengan rencana pencatatan HDR
di HKEX, Perseroan telah mengunggah dokumen-
dokumen terkait pencatatan, termasuk Prospektus
Registrasi HDR, pada situs web Perseroan.
Dokumen-dokumen tersebut memuat informasi
mengenai kegiatan usaha, operasional, informasi
keuangan, faktor risiko, serta informasi lainnya
terkait Perseroan dan rencana pencatatan HDR.
Oleh karena itu, pemegang saham dan calon investor

diharapkan untuk membaca dan
mempertimbangkan seluruh informasi yang
tersedia dalam dokumen-dokumen tersebut

sebelum mengambil keputusan investasi.

material and could affect the company '$ survival
and could affect the company's share price.

Response:

The Company advises that, as of the date of this
response, there have not been any other material
information, material facts, or significant events
that have not been disclosed to the public other
than those already disclosed by the Company in
accordance with the prevailing laws and
regulations.

As part of its commitment to transparency
towards the public regarding the planned listing
Of HDRs on the HKEX, the Company has uploaded
documents relating to the listing, including the
HDR Registration Prospectus, to the Company's
website, These documents contain information
regarding the Company's business activities,
operations, financial information, risk factors,
and other information relating to the Company
and the HDR listing plans. Shareholders and
prospective investors are therefore advised to
read and consider all the information available in
these documents before making any investment
decisions.