20260602_EMAS_Tanggapan atas Permintaan Penjelasan Bursa_32096409_lamp1.pdf

PT Merdeka Gold Resources Tbk

Treasury Tower Lt 67,

strict 8, SCBD Lot

Jalan Jenderai Sudirman Kav 5: T (162) 21 30525585

Senayan Kebi Bar 18 3952

Jakarta Sela KI Jakarta 1219 www merdekagoldresourc n
LAMPIRAN/ APPENDIX

Sehubungan dengan Permohonan Pencatatan kepada
Hong Kong Exchanges and Clearing Limited (HKEX)
yang telah disampaikan Perseroan pada tanggal 20
Maret 2026, berikut penjelasan Perseroan:

ala

Berapa jumlah maksimum Hong Kong Depositary
Receipts (HDR) yang dapat diterbitkan oleh
Perseroan, baik secara absolut maupun dalam
persentase terhadap total saham yang beredar?
Mohon dijelaskan pula apakah terdapat mekanisme
yang membatasi penambahan jumlah HDR di luar
rencana awal, termasuk melalui mekanisme

Jungibility.
Tanggapan:

Saat ini Perseroan belum dapat menyampaikan
secara spesifik jumlah maksimum Hong Kong
Depositary Receipts (“HDR”) yang dapat
diterbitkan, baik dalam jumlah absolut terhadap
total saham beredar.

Selain itu, saat ini Perseroan juga belum dapat
menyampaikan mekanisme pembatasan
penambahan jumlah HDR di luar rencana awal,
termasuk melalui mekanisme fungibility.

Untuk detail informasi yang dapat disampaikan saat
ini oleh Perseroan mohon dapat merujuk pada
Application Proof dan Laporan Informasi atau Fakta
Material Perseroan No. 041/EMAS-
IKT/CORSEC/III/2026 tanggal 25 Maret 2026 pada
tautan-tautan berikut:

2026/1

Apakah terdapat pembatasan perdagangan atau
kepemilikan saham Perseroan yang dialokasikan
untuk pemenuhan kebutuhan HDR?

Tanggapan:
Perseroan menyampaikan bahwa saat ini Perseroan

belum dapat menyampaikan secara spesifik
pembatasan perdagangan maupun kepemilikan

In connection with the Listing Application on Hong
Kong Exchanges and Clearing Limited (HKEX)
submitted by the Company on 20 March 2026, the
Company provides the following explanation:

1

2

What is the maximum number of Hong Kong
Depositary Receipts (HDRs) that the Company
may issue, both in absolute terms and as a
percentage of the total outstanding shares?
Please also explain whether there are any
mechanisms that limitincreases in the number of
HDRs beyond the initial issuance plan, including
through any fungibility mechanism.

Response:

At this stage, the Company is not yet in a position
to provide specific details regarding the
maximum number of Hong Kong Depositary
Receipts ("HDRs”) that may be issued, whether in
absolute terms or as a percentage of the total
issued shares.

In addition, the Company is not yet in a position
to provide details regarding any mechanism that
may limit an increase in the number of HDRS
beyond the initial plan, including through any
fungibility mechanism,

For further information that is currently
available for disclosure by the Company, please
refer to the Application Proof and the Company's
Material Information or Facts Report No.
041/EMAS-JKT/CORSEC/!11/2026 — dated 25
March 2026 at the following links:

nnouncement/ANNOUNCEMENTSTOCK/Fro
m EREP/202603/24ba40f09a ah0c8ee23e.p
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Are there any restrictions on the trading or
ownership of the Company's shares allocated for
the purpose of satisfying HDRS reguirements?

Response:
The Company advises that, at this stage, the

Company is not yet in a position to provide
specific details regarding any trading restrictions

PT Merdeka Gold Resources Tbk

Jakarta

reasury

ena

Ad

MERDEKA

Omer Lt 87, Dist Lot 28
ara! Sudirman Kav 21 30525
Kebayoran Baru F (462) 21 395251 GOLD
atan, DKI Jakarta 12 www merdekagoldresources.com pesounczs
saham Perseroan yang dialokasikan untuk or ownership limitations relating to the
pemenuhan kebutuhan HDR. Company's shares allocated for the purpose of
supporting the HDR arrangement.

Untuk detail informasi yang dapat disampaikan saat For further information that is currently
ini oleh Perseroan mohon dapat merujuk pada available for disclosure by the Company, please
Application Proof dan Laporan Informasi atau Fakta refer to the Application Proof and the Company's
Material Perseroan No. 041/EMAS- Material Information or Facts Report No.
IKT/CORSEC/III/2026 tanggal 25 Maret 2026 pada 041/EMASJKT/CORSEC/II1/2026 — dated 25
tautan-tautan berikut: March 2026 at the following links:
E ://wwwh ws.hk/app/sehk/2026/1 - hi www.hkexnews.hk/app/sehk/202:

8321/documents/sehk26032002117.pdf 108321/documents/sehk26032002117.pdf
- https://www.idx.co.id/StaticData/NewsAndAnno - https://www.idx.co.id/StaticData/NewsAndA

uncement/ANNOUNCEMENTSTOCK/From EREP nnouncement/ANNOUNCEMENTSTOCK/Fro

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Pihak-pihak pemegang saham yang akan melepas 3. The shareholders who will dispose of their shares
sahamnya untuk dikonversi menjadi HDR, beserta fer conversion into HDRS, together with the size
besaran kepemilikan masing-masing dan hubungan Of their respective shareholdings and their
afiliasi (jika ada) dengan Perseroan. affiliated relationship (if any) with the Company.
Tanggapan: Response:
Perseroan menyampaikan bahwa pihak-pihak The Company advises that the shareholders who
pemegang saham yang akan melepas sahamnya will dispose of their shares for conversion into
untuk dikonversi menjadi HDR, termasuk besaran HDRs, including their respective sharehaldings
kepemilikan masing-masing dan hubungan and affiliations with the Company, are still
afiliasinya dengan Perseroan, masih dalam proses subject to commercial finalization and may
finalisasi komersial dan dapat berubah sesuai change depending on the progress of the
dengan perkembangan proses pelaksanaan transaction process.
transaksi,
Untuk detail informasi yang dapat disampaikan saat For further information that is currently
ini oleh Perseroan mohon dapat merujuk pada available for disclosure by the Company, please
Application Proof dan Laporan Informasi atau Fakta refer to the Application Proof and the Company's
Material Perseroan No. 041/EMAS- Material Information or Facts Report No.
JKT/CORSEC/111/2026 tanggal 25 Maret 2026 pada 041/EMAS-JKT/CORSEC/IN1/2026 — dated 25
tautan-tautan berikut: March 2026 at the following links:

.8821/dncaments/seh626032002117pg! ocu f 1108321/documents/sehk26032002117.pdf

sid StaticData/N N . 3 idx.coid/StaticData/)
' ncement/ANNOUNCEMENTSTOCK/From EREP mnouncement/ANNOUNCEMENTSTOCK/Fro
1202603/24ba40f09a ah0c8ee23e.ndf mM EREP/202603/24ha40f09a abOcBee23ep
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Ye

PT Merdeka Gold Resoui
Treasury Tower Lt 6

alan Jenderal Sudirman Kav 52 T (462) 21 39525 MERDEKA
an. Kebayoran Bar. (462) 21 3952558F GOLD
rta Selatan, DKI Jakarta 1219 wawan me olaresources com mesouners

4. Manfaat yang diharapkan dari penerbitan HDR 4 Theexpected benefits ofthe HDRs issuancetothe

terhadap pasar modal Indonesia.

Tanggapan:

Perseroan menyampaikan bahwa pencatatan HDR

diharapkan dapat:

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/III/2026 tanggal 25 Maret 2026 pada
tautan berikut:

https://www.idx.co.id/StaticData/NewsAndAnnou
ncement/ANNOUNCEMENTSTOCK/From EREP/2
92603/24ba40f09a ab0c8ee23e.pdf

Potensi dampak negatif yang dapat timbul dari
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 menyampaikan bahwa faktor risiko yang
dapat mempengaruhi perdagangan saham
Perseroan dan/atau HDR antara lain meliputi
fluktuasi harga saham dan/atau HDR akibat
pergerakan pasar saham domestik maupun
internasional, kondisi ekonomi, nilai tukar mata
uang asing, dan suku bunga, perbedaan regulasi dan
kewajiban pelaporan antara IDX dan HKEX, serta
perbedaan waktu perdagangan dan hari libur antara

Indonesian capital market.
Response:

The Company hereby informs that the HDR listing

is expected to:

1 strengthen the Company's capital markets
platform and enhance the Company's
international profile

2, diversify and expand the shareholder base
through international institutional investors:

3. enhance liguidity through access to broader
global capital markets,

4 strengthen corporate governance and
reporting standards through compliance with
international regulatory frameworks, and

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

In addition, the HDR listing is expected toimprove
the Company's accessibilitp 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/!11/2026 dated 25 March 2026,
which is available at the following link:

. . id/StaticData/N
nouncement/ANNOUNCEMENTSTOCK/From
EREP/202603/24ba40f09a abOcBee23e.pdf

5. The potential adverse impacts arising from the
HDRs issuance on the Indonesian capital market,
including but not limited to the risk of liguidity
migration to the Hong Kong market and its
impact an share price formation on the
Exchange.

Response:

The Company advises that the risk factors that
may affect the trading of the Company's shares
and/or HDRS include fluctuations in the price of
the Companys shares and/or HDRs due to
movements in domestic and international stock
markets, economic conditions, foreign exchange
rates, and interest rates, differences in
regulatory and reporting reguirements between
IDK and HKEX, as well us differences in trading

PT Merdeka Gold Resources Tbk

asury Tower Lt 67, District 8, SCBD Lot 28
Jenders: Sudir 3 2) 21 39525585
yan bay 4 F 6: 39525588
Jakarta Selatan, DKI J www merdekagol
Indonesia dan Hong Kong yang dapat

mempengaruhi aktivitas perdagangan investor,

Untuk detail informasi yang dapat disampaikan saat
ini oleh Perseroan mohon dapat merujuk pada
Application Proof dan Laporan Informasi atau Fakta
Material Perseroan No. 041/EMAS-
JKT/CORSEC/II1/2026 tanggal 25 Maret 2026 pada
tautan-tautan berikut:

- https://www1.hkexnews.hk/app/sehk/2026/10
8321/documents/sehk26032002117.pdf
uncement/ANNOUNCEMENTSTOCK/From EREP
1202603/24ba40f09a ahOrBee23e.pdf

Langkah-langkah konkret yang akan ditempuh 6.

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 menyampaikan bahwa Perseroan akan
tunduk pada ketentuan OJK, BEI, dan HKEX
termasuk kewajiban keterbukaan informasi dan tata
kelola perusahaan sesuai dengan peraturan
perundang-undangan yang berlaku.

Sehubungan dengan hal tersebut, Perseroan saat ini
masih melakukan pembahasan dan koordinasi
dengan para pihak terkait, termasuk konsultan
hukum, sponsor, dan pihak profesional lainnya,
untuk merumuskan mekanisme yang tepat guna
memastikan bahwa HDR dimiliki oleh investor
publik dan bukan oleh pihak terafiliasi, pengendali,
maupun manajemen Perseroan, sepanjang
diwajibkan berdasarkan ketentuan peraturan
perundang-undangan dan peraturan yang berlaku

Penjelasan mengenai skema penerbitan HDR,
mencakup struktur hukum, pihak-pihak yang
terlibat (antara lain depository bank, kustodian, dan
arranger), serta proses konversi saham menjadi
HDR dan sebaliknya.

esources com

MERDEKA
GOLD

pesouaers

hours and public holidays between Indonesia and
Hong Kong, which may affect investors' trading
activities.

For further information that is currently
available for disclosure by the Company, please
refer to the Application Proof and the Company's
Material Information or Facts Report No.
041/EMAS-JKT/CORSEC/I11/2026 — dated 25
March 2026 at the following links:

- https://www1.hkexnews.hk/app/sehk/2026
/108321/documents/sehk26032002117.pdf
nnouncement/ANNOUNCEMENTSTOCK/Fro
m EREP/202603/24ba40f09a ab0r8ee23e.p
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The concrete measures to be undertaken to
ensure that the HDRs is held by public investors
and not by affiliated parties, controlling
sharehoiders, or the Company's management.
This includes the mechanisms for monitoring,
reporting, and periodic enforcement of the
relevant provisions.

Response:

The Company advises that it will comply with the
regulations of OJK, IDX, and HKEX, including
disclosure obligations and corporate governance
reguirements in accordance with the applicable
laws and regulations.

In this regard, the Company is currently engaging
In discussions and coordination with the relevant
parties, including legal advisers, sponsors, and
other professional advisers, to develop an
appropriate mechanism to ensure that HDRs are
held by public investors and not by the Company's
@affiiates, — controlling — sharehoiders, — or
management, to the extent reguired under the
applicable laws, regulations, and listing
reguirements.

An explanation of the HDRs issuance scheme,
including the legal structure, the parties involved
(including, among others, the depository bank,
custodian, and arranger), as well as the process
for conversion ofshares into HDRSs and vice versa.

PT Merdeka Gold Resources Tbk

Treasury Tower
Ja

Jakarta Sela

Istrict 8, SCBD Lot 28
an Jenders' Sudirman Kav 52-53

ayan. Kebayoran Baru

4 Jakarta 12190

F (462)
Www.merdekag

Tanggapan:

Saat ini Perseroan belum dapat menyampaikan
skema penerbitan HDR, mencakup struktur hukum,
pihak-pihak yang terlibat (antara lain depository
bank, kustodian, dan arranger), serta proses
konversi saham menjadi HDR dan sebaliknya.

Untuk detail informasi yang dapat disampaikan saat
ini oleh Perseroan mohon dapat merujuk pada
Application Proof dan Laporan Informasi atau Fakta
Material Perseroan No. 041/EMAS-
JKT/CORSEC/III/2026 tanggal 25 Maret 2026 pada
tautan-tautan berikut:

- https://www1.hkexnews.hk/app/sehk/2026/10
8321/documents/sehk26032002117.pdf

- :/ /www.idx.co.id ii 'NewsAnd,
1202603/24ha40f09a abOxBee23e.pdf

Mekanisme fungibility antara saham yang tercatat di
IDX dan HDR yang tercatat di HKEX, termasuk tata
cara konversi, pihak yang berwenang memfasilitasi
konversi, batas waktu penyelesaian transaksi,
potensi peningkatan likuiditas saham Perseroan di
Bursa Efek Indonesia serta implikasinya terhadap
jumlah saham yang beredar di masing-masing
bursa,

Tanggapan:

Perseroan menyampaikan bahwa HDR dapat
ditukar menjadi saham Perseroan yang
diperdagangkan di BEI dan sebaliknya. Akan tetapi
Perseroan belum dapat menyampaikan perincian
lebih lanjut mengenai tata cara konversi, pihak yang
berwenang memfasilitasi konversi, batas waktu
penyelesaian transaksi, potensi peningkatan
likuiditas saham Perseroan di Bursa Efek Indonesia
serta implikasinya terhadap jumlah saham yang
beredar di masing-masing bursa.

Untuk detail informasi yang dapat disampaikan saat
ini oleh Perseroan mohon dapat merujuk pada
Application Proof dan Laporan Informasi atau Fakta
Material Perseroan No. 041/EMAS-
IKT/CORSEC/III/2026 tanggal 25 Maret 2026 pada
tautan-tautan berikut:

T (462) 21 3052558
395255

V/

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MERDEKA

GOLD

mEsouacas

Response:

At this stage, the Company is not yet in a position
to provide details regarding the HDR issuance
structure, including the legal structure, the
parties Involved (including the depositary bank,
custodian, and arranger), as well as the process
for the conversion of shares into HDRS and vice
versa.

For further information that is currently
available for disclosure hy the Company, please
refer to the Application Proof and the Company's
Material Information or Facts Report No.
O41/EMAS-JKT/CORSEC/I11/2026 dated 25
March 2026 at the following links:

/108321/documents/sehk26032002117.pdf
bi H -idx.co.id/StaticData/NewsAnt
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The fungibility mechanism between the shares
listed on the IDX and the HDRs listed on the
HKEX, including the conversion procedures, the
parties guthorized to facilitate such conversion,
the transaction settlement timeframe, the
potential increase in the liguidity of the
Company's shares on the Indonesia Stock
Exchange, and the implications thereof on the
number of shares outstanding on each exchange.

Response:

The Company advises that HDRs may be
converted into the Company's shares listed on the
IDX and vice versa. However, the Company is not
yet in a position to provide further details
regarding the conversion procedures, the parties
authorized to facilitate such conversions,
settlement timelines, the potential impact on the
liguidity of the Company's shares listed on the
Indonesia Stock Exchange, and the implications
for the number of shares traded on each
exchange,

For further information that is currentiy
available for disclosure by the Company, please
refer to the Application Proof and the Company's
Material Information or Facts Report No.
O41/EMAS-JKT/CORSEC/N1/2026 — dated 25
March 2026 at the following links:

PT Merdeka Gold Resources Tbk

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Informasi, fakta material atau kejadian penting
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 belum 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 tambahan, harap diperhatikan bahwa draft
Application Proof yang disamarkan tersebut merupakan
dokumen awal yang disampaikan sebagai bagian dari
Permohonan Pencatatan, dan dimaksudkan untuk
memberikan gambaran menyeluruh mengenai kegiatan
usaha, operasional, informasi keuangan, serta faktor
risiko Perseroan. Perlu diperhatikan bahwa draft
Application Proof atas dokumen pencatatan yang
disamarkan tersebut belum merupakan dokumen final,
masih tunduk pada proses penelaahan dan revisi oleh
regulator, serta tidak dapat dijadikan sebagai dasar
dalam pengambilan keputusan investasi. Para
pemegang saham dan calon investor disarankan untuk
berhati-hati dalam melakukan transaksi atas efek
Perseroan.

9. Other important information/events that are
material and could affect the company's 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.

In addition, kindly be noted that the current, redacted
draft Application Proof constitutes a draft listing
document submitted as part of the Listing
Application and is intended to provide a detailed
overview of the Company's business, operations,
financial information, and risk factors. It should be
noted that the redacted draft Application Proof ofthe
listing document is not in final form, remains subject
to regulatory review and revision, and should not be
relied upon as the basis for any investment decision.
Sharehoiders and potential investors are advised to
exercise caution when dealing in the securities of the
Company.

MERDEKA