20241004_NETV_Perubahan dan//atau Tambahan Keterbukaan Informasi terkait Aksi Korporasi_31732607_lamp2.pdf

                                                                               Unofficial Translation




 THE COMPANY, THE REVERSE STOCK SPLIT AND NPR WILL ALLEVIATE THE PRESSING
 INSOLVENCY CONDITIONS AND MAY LEAD TO THE PROCESS OF SUSPENSION OF DEBT
 PAYMENT OBLIGATIONS OR BANKRUPTCY, SO THE PLAN FOR REVERSE STOCK AND
 NPR WILL NOT CAUSE LOSS TO THE COMPANY. THERFORE, THE COMPANY IS NOT
 SUBJECT TO ARTICLE 44C OF POJK 14/2019.
 THIS INFORMATION DISCLOSURE IS IMPORTANT TO BE CONSIDERED BY THE
 COMPANY'S SHAREHOLDERS IN ORDER TO MAKE A DECISION AT THE COMPANY'S
 GENERAL MEETING OF SHAREHOLDERS IN CONNECTION WITH THE COMPANY'S PLAN
 TO CARRY OUT A REVERSE STOCK SPLIT AND NPR .
       This Amendment and/or Additional Information to the Information Disclosure is
      published on 4 October 2024 and is an integral part of the Information Disclosure
                               published on 28 August 2024

                                      I.      INTRODUCTION


Based on the Company's consolidated financial statements for the four-month period that ended on
30 April 2024, the Company has accumulated losses and capital deficiency of Rp.3,523,570,216,575
(three trillion five hundred twenty-three billion five hundred seventy million two hundred sixteen
thousand five hundred seventy-five Rupiah) and Rp.596,585,361,857 (five hundred ninety-six billion
five hundred eighty-five million three hundred sixty-one thousand eight hundred fifty-seven Rupiah),
respectively as of 30 April 2024 which were mainly triggered by the negative operating and financial
performance in recent years of the Company engaged in the media industry. Furthermore, as of 30
April 2024, the Company has a total current liabilities position that exceeded its total current assets
by Rp.705,497,798,913 (seven hundred five billion four hundred ninety-seven million seven hundred
ninety-eight thousand nine hundred thirteen Rupiah).

This challenging situation is related to the high level of debt with a significant portion being short­
term liabilities, resulting in a substantial financial burden. The limited working capital has also
strained the Company's ability to be able to produce competitive programs and broadcasting
content, leading to a decline in operational performance. Overall, this situation poses a risk of
uncertainty regarding the Company's going concern.

To address these challenges, the Company has taken several steps to improve its operational and
financial conditions, including (1) enhancing the efficiency of routine operating costs; (2) expanding
the target market by reaching out to television audiences in the middle and upper-middle economic
classes, and television segments of women, families and children; (3) optimizing revenue sources
through additional advertising sales on television platforms, digital platforms and other services for
advertisers; and (4) making efforts to improve the Company's financial condition, including seeking
funding and strategic partners.
In its efforts to improve the Company's financial condition, the Company seeks strategic investors
within the media and entertainment industry ecosystem who are believed to have financial
capabilities and offer beneficial operational synergies. Cooperation with such strategic investors is
expected to provide strategic advantages, including expertise in producing program and broadcast
contents.

To improve solvency, the Company has also sought to restructure loans that will soon mature,
through the following steps:

        On 5 April 2024, the Company signed a loan agreement with Newton Capital Ltd. ("NCL")
        amounting to Rp.882.6 billion to be used as an advance capital deposit in PT Net Mediatama
        Televisi ("NMT") in order to repay NMT's loan to NCL as disclosed in the Disclosure of




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