20240723_LPPF_Laporan Informasi dan Fakta Material_31686819_lamp1.pdf

The Company is postponing new store openings for the second half of the year, being
selective about opening in high-quality malls.

The Company remains focused on cost management. Rental negotiation in the first
half resulted in savings, supported by rental rebates and variable rental agreements.
Labor productivity initiatives planned for the second half are also expected to yield
results.

“Our results in the first half reflect the persistent weakness in consumer spending,
particularly for apparel and footwear. However, we remain committed to our
strategic growth initiatives,” stated Monish Mansukhani, CEO of Matahari. “We are
focused on enhancing our operations and expanding our reach to serve our
customers better.”

                                                       ###


About Matahari

Matahari is the largest retail platform in Indonesia, with 148 outlets across 81 cities nationwide.
Additionally, it operates online through matahari.com, the social commerce platform "Shop &
Talk," and third-party marketplaces. With a history spanning over 60 years, Matahari has been
a key provider of quality, fashionable, and affordable clothing, beauty products, and shoes
for the growing middle class in Indonesia. The company employs over 30,000 staff, including
consignment product sales representatives, and collaborates with approximately 600 local
and international suppliers.

The company has garnered several accolades on both national and international levels, such
as the TrenAsia’s ESG Awards 2023, Fashion Retail of The Year 2023 by HIPPINDO, Top 50 Mid
Capitalization Public Listed Company 2023 by IICD, Top 100 Most Valuable Brand by Brand
Finance, Most Improved Investor Relations, and Top 5 Best Senior Management IR Support in
2022 by Alpha Southeast Asia. Other recognitions include being named Top 10 CSR Donor by
the Indonesia Stock Exchange, Best Non-Financial Sector, and Top 10 Mid-Cap Issuers at the
ASEAN Corporate Governance Awards 2022, Top Digital Company & Best Excellent Service
Experience Index Award 2022 by Majalah Marketing, Top 50 Most Valuable Brand Awards 2021
by Brand Finance Indonesia, and Top 500 Retail Asia Pacific by Retail Asia, Euromonitor &
KPMG. Matahari was also recognized as one of the Top 3 Most Powerful Retail Brands in
Indonesia in the Brand Asia 2018 awards by Nikkei BP Consulting, Inc., and received the WoW
Brand Award 2019 – Gold Champion from MarkPlus Inc. Additionally, the company earned the
Stellar Workplace Award 2023 for Employee Commitment and Employee Satisfaction, and the
Indonesia Netizen’s Brand Choice Award 2018 from Warta Ekonomi. These awards collectively
contribute to and reinforce Matahari's reputation as a leading, dynamic, and trustworthy
company in Indonesia.




 Menara Matahari 12th Floor,            T 62 21 547 5228
 Jl. Boulevard Palem Raya No. 7         E corp.comm@matahari.com
 Karawaci, Tangerang 15811, Indonesia   www.matahari.com

For further information, please contact:

Corporate Communications / Investor Relations
Matahari
Tel: (62 21) 547 5228
E-mail: corp.comm@matahari.com, ir@matahari.com




____________________________________________________________________________________________________


This press release has been prepared by Matahari ("LPPF") and is circulated for the purpose of general information only. It is not intended
for any specific person or purpose and does not constitute a recommendation regarding the securities of LPPF. No warranty (expressed
or implied) is made to the accuracy or completeness of the information. All opinions and estimations included in this release constitute
our judgment as of this date and are subject to change without prior notice. LPPF disclaims any responsibility or liability whatsoever
arising which may be brought against or suffered by any person as a result of reliance upon the whole or any part of the contents of
this press release and neither LPPF nor any of its affiliated companies and their respective employees and agents accepts liability for
any errors, omissions, negligent or otherwise, in this press release and any inaccuracy herein or omission here from which might otherwise
arise.

Forward-Looking Statements

Certain statements in this release are or may be forward- looking statements. These statements typically contain words such as "will",
"expects" and "anticipates" and words of similar import. By their nature, forward looking statements involve a number of risks and
uncertainties that could cause actual events or results to differ materially from those described in this release. Factors that could cause
actual results to differ include, but are not limited to, economic, social, health and political conditions in Indonesia; the state of the
retail industry in Indonesia; prevailing market and operating conditions, raw material prices and Import restrictions; competition from
other companies; shifts in customer demands; changes in operation expenses, including employee wages, benefits and training,
governmental and public policy changes; our ability to be and remain competitive; our financial condition, business strategy as well
as the plans and objectives of our management for future operations;. Should one or more of these uncertainties or risks, among others,
materialize, actual results may vary materially from those estimated, anticipated or projected. Although we believe that the
expectations of our management as reflected by such forward-looking statements are reasonable based on information currently
available to us, no assurances can be given that such expectations will prove to have been correct. You should not unduly rely on
such statements. In any event, these statements speak only as of the date hereof, and we undertake no obligation to update or revise
any of them, whether as a result of new information, future events or otherwise.




 Menara Matahari 12th Floor,                      T 62 21 547 5228
 Jl. Boulevard Palem Raya No. 7                   E corp.comm@matahari.com
 Karawaci, Tangerang 15811, Indonesia             www.matahari.com