20240701_ISSP_Ringkasan Risalah//Risalah RUPS_31677470_lamp3.pdf

   7. Approval of the Amendment to Article 3 of the Company's Articles of Association
      Regarding the Company's Objectives and Purposes as well as Business Activities, related
      to the formulation and reorganization of supporting business activities.
   8. Approval to guarantee more than 1/2 or the entire wealth of the Company in the context of
      credit facilities that the Company will obtain from Banks and/or Financial Institutions,
      including for the issuance of Bonds and/or Sukuk in the Capital Market
    (Hereinafter referred to as the Meeting)
For the benefit of the Company, a deed of Minutes of the Annual General Meeting of Shareholders
of the Company, dated 28 June 2024, numbered 40


The Attendance of the Members of the Board of Directors and Board of Commissioners:
Members of the Board of Directors present at the Meeting::
President Director                : Mr. IBNU SUSANTO
Vice President Director : Mr. TEDJA SUKMANA HUDIANTO
Director                          : Mr THE, HANNY PURNOMO *)
*) participate in the meeting through the KSEI Zoom Webinar application
The Board of Commissioners did not attend the Meeting

Chairman of Meeting:
The meeting was chaired by Mr. TEDJA SUKMANA HUDIANTO, as the Vice President Director
of the Company.


Shareholders Attendance:
  - The meeting was attended by the shareholders and their proxies representing 6,045,708,040
     shares or 85.57% of 7,065,340,735 shares which are all shares with valid voting rights that
     have been issued by the Company (after deducting the number of shares issued) repurchased
     by the Company).


Submission of Questions and/or Opinions:
  - Shareholders and their proxies are given the opportunity to ask questions and/or opinions for
    each agenda item of the Meeting
  - First Agenda Item       : 1 person asking
  - Seventh Agenda Item : 1 person asking
  - Second to sixth Agenda Item and eighth Agenda Item : no one asked questions and/or
    opinions.

Decision Making Mechanism
   - Decision-making on all agenda items is conducted based on deliberation to reach
       consensus. In the event that consensus cannot be reached, decisions are made by voting.

Voting Results:
- The first agenda:
    -Number of blank votes (abstained)     : 7,742,954 votes.
    -Number of disapproving votes          : -- votes.
    -Number of approve votes               : 6,037,965,086 votes.
    -The total of approve votes            : 6,045,708,040 votes, or 100%, or more than 1/2
                                             part of the total number of votes legally cast in the
                                             Meeting.

 - Second, fifth, and sixth agenda item:
    -Number of blank votes (abstained)      :   1,005,400 votes
    -Number of disapproving votes           :   -- votes
    -Number of approve votes                :   6,044,702,640 votes.
    -So that the total of approve votes     :   6,045,708,040 votes, or 100%, or more than
                                                1/2 part of the total number of votes legally
                                                cast in the Meeting.

 - Third agenda item:
    -Number of blank votes (abstained)      :   160,071,500 votes.
    -Number of disapproving votes           :   4,880,783 votes.
    -Number of approve votes                :   5,880,755,757 votes.
    -So that the total of approve votes     :   6,040,827,257 votes, or 99.92%, or more than
                                                1/2 part of the total number of votes legally
                                                cast in the Meeting.

 - Fourth agenda item:
    -Number of blank votes (abstained)      :   160,071,500 votes.
    -Number of disapproving votes           :   4,890,783 votes.
    -Number of approve votes                :   5,880,745,757 votes.
    -So that the total of approve votes     :   6,040,817,257 votes, or 99,92%, or more than
                                                1/2 part of the total number of votes legally
                                                cast in the Meeting.

 - Seventh agenda item:
    -Number of blank votes (abstained)      :   1,005,400 votes.
    -Number of disapproving votes           :   44,478,880 votes.
    -Number of approve votes                :   6,000,223,760 votes.
    -So that the total of approve votes     :   6,001,229,160 votes, or 99,26%, or more than
                                                2/3 part of the total number of votes legally
                                                cast in the Meeting..

 - Eighth agenda item:
    -Number of blank votes (abstained)      :   1,005,400 votes.
    -Number of disapproving votes           :   49,372,163 votes.
    -Number of approve votes                :   5,995,330,477 votes

    -So that the total of approve votes       :   5,996,335,877 votes, or 99,18%, or more than
                                                  1/2 part of the total number of votes legally
                                                  cast in the Meeting

Meeting Resolutions:

First agenda decision:
  - Approved and ratified the Company's Annual Report for the 2023 financial year including
       the Company's Activity Report, the Supervisory Report of the Board of Commissioners and
       the 2023 Financial Report, as well as providing full settlement and discharge of
       responsibilities (acquit et de charge) to the Board of Directors and the Board of
       Commissioners of the Company for the management and supervisory actions they carried
       out in the 2023 financial year as long as these actions are reflected in the Annual Report.


Second agenda decision:
   a. Approving the use of the Company's net profit for the fiscal year 2023, as follows:
      i. Amounting to Rp105,980,111,025.00 (one hundred five billion nine hundred eighty
           million one hundred eleven thousand twenty-five rupiahs) or Rp15.00 (fifteen rupiahs)
           per share, to be distributed as cash dividends to the Company's shareholders, in
           compliance with applicable tax regulations;
      ii. Amounting to Rp10,000,000,000.00 (ten billion rupiahs) to be set aside and recorded
           as a reserve fund;
      iii. The remainder to be retained and recorded as retained earnings, to increase the
           Company's working capital.
   b. Granting power and authority to the Company's Board of Directors to undertake any and
      all necessary actions related to the above decisions, in accordance with applicable laws and
      regulations.

Third agenda decision:
 - Granted authority and power to the Board of Commissioners of the Company, to appoint a
      Public Accountant and/or Public Accountant Firm, with independent criteria and registered
      with the Financial Services Authority, which will audit the Company's financial statements
      for the financial year 2024, because it is being considered and evaluated for appointment
      Further Public Accountants and/or Public Accounting Firms, as well as to determine the
      honorarium of the said Public Accountants and/or Public Accounting Firms, and to
      determine the conditions relating to the appointment and dismissal of the said Public
      Accountants and/or Public Accounting Firms, as well as the appointment of a replacement
      Public Accountant. in the event that there is a replacement of the Public Accountant
      concerned.

Fourth agenda decision:

     a. Determining the remuneration along with other facilities and allowances for members of the
        Company's Board of Commissioners as a whole for the fiscal year 2024, with a maximum
        amount equal to that of the fiscal year 2023, or if there is an increase, the increase shall not
        exceed 10% (ten percent) of the fiscal year 2023, and granting authority to the President
        Commissioner to determine the allocation;
     b. Granting authority to the Company's Board of Commissioners to determine the remuneration
        along with other facilities and allowances for members of the Company's Board of Directors.


Fifth agenda decision:

a.      Accepting the resignation of Mr. Tikman Utomo as the Company's Director and Mrs. Endang
        Fifi Susanto as the Company's Commissioner, with gratitude for their services and
        contributions to the Company;
b.      Appointing Mr. Nico Gunawan as Director, and Mr. Entario Widjaja Susanto as
        Commissioner, effective from the close of this Meeting;
c.      Establishing the composition of the Company's Board of Directors and Board of
        Commissioners effective from the close of this Meeting until the close of the Company's
        Annual General Meeting of Shareholders in 2027, as follows:

        Board of Directors:
        President Director: Mr. Ibnu Susanto
        Vice President Director: Mr. Tedja Sukmana Hudianto
        Director: Mr. Soediarto Soerjoprahono
        Director: Mr. The Hanny Purnomo
        Director: Mr. Nico Gunawan
        Board of Commissioners:

        President Commissioner (Independent Commissioner): Mr. Makmur Widjaja
        Commissioner: Mr. Entario Widjaja Susanto
        Independent Commissioner: Mr. Bing Hartono Poernomosidi
        Independent Commissioner: Mrs. Welly Tantono

      a. Granting authority and power to the Board of Directors of the Company and/or Mr. IBNU
         SUSANTO, both collectively and individually, with the right of substitution, to
         express/declare the decision regarding the composition of the members of the Board of
         Directors and the Board of Commissioners of the Company in a deed made before a Notary,
         and to subsequently notify the competent authorities, and carry out all and any necessary
         actions in connection with the decision in accordance with the applicable laws and
         regulations.

Sixth agenda decision:

   -   Received reports on the realization of the use of proceeds from the Public Offering of
       Spindo Phase II Bonds II 2023 and Spindo's Sukuk Ijarah II Phase II Year 2023, which
       have been fully used.

Seventh agenda decision:
  a. Approving the amendment of Article 3 of the Company's Articles of Association concerning
      the Purpose and Objectives as well as the Business Activities of the Company in relation to
      the reformulation and reorganization of supporting business activities in accordance with
      the Regulation of the Capital Market and Financial Institution Supervisory Agency Number
      IX.J.1 on the Principles of the Articles of Association of Companies Conducting Public
      Offerings of Equity Securities and Public Companies, using the 2020 Indonesian Standard
      Industrial Classification (KBLI 2020) including any amendments or updates thereto or other
      wording as determined by the competent authorities, as presented at the Meeting.
  b. Granting authority and power to the Company's Board of Directors and/or Mr. Ibnu Susanto,
      either jointly or individually, with the right of substitution, to take all necessary actions in
      relation to the above decision, including but not limited to declaring/recording the decision
      in deeds made before a Notary, to amend, adjust, and/or reorganize the provisions of Article
      3 of the Company's Articles of Association in the future in accordance with the 2020
      Indonesian Standard Industrial Classification (KBLI 2020) including any amendments or
      updates thereto (if any) and other wording as determined by the competent authorities, as
      required by and in accordance with applicable laws and regulations, and to subsequently
      submit applications for approval and/or notifications of this Meeting's decision and/or
      amendments to the Company's Articles of Association in this Meeting's decision to the
      competent authorities, as well as to take all necessary actions, in accordance with applicable
      laws and regulations.

Eighth agenda decision:
   - Approving to pledge the Company's assets, amounting to more than 1/2 or the entirety of
       the Company's assets, as collateral for loan facilities that the Company will obtain from
       Banks and/or other Financial Institutions, including for the issuance of Bonds and/or Sukuk
       in the Capital Market.

                                         Surabaya, 28 June 2024
                               PT Steel Pipe Industry of Indonesia Tbk
                                       The Board of Directors