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KETERBUKAAN INFORMASI KEPADA PEMEGANG INFORMATION DISCLOSURE TO SHAREHOLDERS
SAHAM TERKAIT TRANSAKSI MATERIAL RELATED TO MATERIAL TRANSACTION
PT MERDEKA GOLD RESOURCES TBK PT MERDEKA GOLD RESOURCES TBK
(“PERSEROAN”) (THE “COMPANY”)
Keterbukaan Informasi ini disampaikan kepada para This Information Disclosure is provided to the
Pemegang Saham dan publik dalam rangka memberikan Shareholders and the public in order to provide an
penjelasan mengenai Perjanjian Jual Beli Bersyarat atas explanation in relation to the Conditional Sale and
Peralatan dan Perjanjian Layanan Konsultasi Penunjang Purchase Agreement of Equipment and the
antara PT Pani Industri Nusantara dan Vision Green Supplementary Consultancy Services Agreement between
Energy (Beijing) Tech, Co., Ltd. (“Transaksi”). PT Pani Industri Nusantara and Vision Green Energy
(Beijing) Tech, Co., Ltd. (the “Transaction”).
INFORMASI SEBAGAIMANA TERCANTUM DALAM INFORMATION AS STATED IN THIS INFORMATION
KETERBUKAAN INFORMASI INI PENTING UNTUK DISCLOSURE IS IMPORTANT TO BE READ AND
DIBACA DAN DIPERHATIKAN OLEH PEMEGANG CONSIDERED BY THE COMPANY'S SHAREHOLDERS. IF
SAHAM PERSEROAN. JIKA ANDA MENGALAMI YOU HAVE DIFFICULTIES TO UNDERSTAND THE
KESULITAN UNTUK MEMAHAMI INFORMASI INFORMATION AS SET FORTH IN THIS INFORMATION
SEBAGAIMANA TERCANTUM DALAM KETERBUKAAN DISCLOSURE YOU SHOULD CONSULT WITH A LEGAL
INFORMASI INI SEBAIKNYA ANDA BERKONSULTASI COUNSEL, A PUBLIC ACCOUNTANT, A FINANCIAL
DENGAN PENASIHAT HUKUM, AKUNTAN PUBLIK, ADVISOR OR ANY OTHER PROFESSIONAL.
PENASIHAT KEUANGAN ATAU PROFESIONAL
LAINNYA.
PT MERDEKA GOLD RESOURCES TBK
Kegiatan Usaha Business Activities
Perusahaan induk atas grup usaha yang bergerak di The holding company of a business group engaged in
bidang pertambangan emas dan mineral pengikutnya, gold mining and associated minerals, processing and
pengolahan dan kegiatan usaha terkait lainnya yang other business activities that are vertically integrated.
terintegrasi secara vertikal.
Berkedudukan di Jakarta Selatan, Indonesia/ Domiciled in South Jakarta, Indonesia
Kantor Pusat/ Headquarter Office
Treasury Tower, Lantai/ Floor 67, District 8, SCBD Lot 28
Jl. Jend. Sudirman Kav. 52-53, Senayan, Kebayoran Baru, Jakarta Selatan/ South Jakarta 12190, Indonesia
Telepon/ Telephone: +62 21 3952 5585; Faksimile/ Facsimile: +62 21 3952 5588
Surat Elektronik/ E-mail: corsec@merdekagoldresources.com
Situs Web/ Website: www.merdekagoldresources.com
Keterbukaan Informasi ini This Information Disclosure
diterbitkan di Jakarta pada tanggal 24 Agustus 2026 is issued in Jakarta on 24 August 2026
Keterbukaan Informasi PT Merdeka Gold Resources Tbk/ Information Disclosure of PT Merdeka Gold Resources Tbk
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DEFINISI DAN SINGKATAN DEFINITIONS AND ABBREVIATIONS
“Afiliasi”: Pihak-pihak sebagaimana dimaksud dalam “Affiliate”: Parties referred to UUP2SK, namely:
UUP2SK, yaitu:
a. hubungan keluarga karena perkawinan sampai a. family relationship due to marriage up to the second
dengan derajat kedua, baik secara horizontal degree, both horizontally and vertically, namely the
maupun vertikal, yaitu hubungan seseorang dengan: relationship of a person with:
1. suami atau istri; 1. husband or wife;
2. orang tua dari suami atau istri dan suami atau 2. parents of the husband or wife and the husband or
istri dari anak; wife of the children;
3. kakek dan nenek dari suami atau istri dan suami 3. grandparents of the husband or wife and the
atau istri dari cucu; husband or wife of the grandchildren;
4. saudara dari suami atau istri beserta suami atau 4. siblings of the husband or wife along with their
istrinya dari saudara yang bersangkutan; atau respective spouse; or
5. suami atau istri dari saudara orang yang 5. the husband or wife of the sibling of the person
bersangkutan. concerned.
b. hubungan keluarga karena keturunan sampai b. family relationship due to descent up to the second
dengan derajat kedua, baik secara horizontal degree, both horizontally or vertically, namely the
maupun vertikal, yaitu hubungan seseorang dengan: relationship of a person with:
1. orang tua dan anak; 1. parents and children;
2. kakek dan nenek serta cucu; atau 2. grandparents and grandchildren; or
3. saudara dari orang yang bersangkutan. 3. siblings of the person concerned.
c. hubungan antara pihak dengan karyawan, direktur, c. relationship between a party and employees,
atau komisaris dari pihak tersebut; directors, or commissioners of the party;
d. hubungan antara 2 (dua) atau lebih perusahaan di d. relationship between 2 (two) or more companies in
mana terdapat 1 (satu) atau lebih anggota direksi, which there are 1 (one) or more members of the board
pengurus, dewan komisaris, atau pengawas yang of directors, management, board of commissioners, or
sama; supervisors who are the same;
e. hubungan antara perusahaan dan pihak, baik e. relationship between a company and a party, whether
langsung maupun tidak langsung, dengan cara apa direct or indirect, by any means, controlling or
pun, mengendalikan atau dikendalikan oleh controlled by the company or that party in
perusahaan atau pihak tersebut dalam menentukan determining the management and/or policies of the
pengelolaan dan/atau kebijakan perusahaan atau company or the concerned party;
pihak dimaksud;
f. hubungan antara 2 (dua) atau lebih perusahaan yang f. relationship between 2 (two) or more companies
dikendalikan, baik langsung maupun tidak langsung, controlled, whether direct or indirect, by any means,
dengan cara apa pun, dalam menentukan in determining the management and/or policies of the
pengelolaan dan/atau kebijakan perusahaan oleh company by the same party; or
pihak yang sama; atau
g. hubungan antara perusahaan dan pemegang saham g. relationship between a company and a major
utama, yaitu pihak yang secara langsung maupun shareholder, that is a party that directly or indirectly
tidak langsung memiliki paling kurang 20% (dua owns at least 20% (twenty percent) of the shares with
puluh persen) saham yang mempunyai hak suara voting rights of the company.
dari perusahaan tersebut.
“Benturan Kepentingan”: Perbedaan antara “Conflict of Interest”: The difference between the
kepentingan ekonomis perusahaan terbuka dengan economic interest of a public company and the personal
kepentingan ekonomis pribadi anggota direksi, anggota economic interest of members of the board of directors,
dewan komisaris, pemegang saham utama, atau members of the board of commissioners, major
pengendali yang dapat merugikan perusahaan terbuka shareholders, or controllers that may be harmful to the
dimaksud. public company concerned.
Keterbukaan Informasi PT Merdeka Gold Resources Tbk/ Information Disclosure of PT Merdeka Gold Resources Tbk
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“Bursa Efek Indonesia”: PT Bursa Efek Indonesia. “Indonesia Stock Exchange”: PT Bursa Efek Indonesia.
“Menkum”: Menteri Hukum Republik Indonesia, yang “MOL”: Minister of Law of the Republic of Indonesia,
sebelumnya dikenal sebagai Menteri Hukum dan Hak previously known as Minister of Law and Human Rights of
Asasi Manusia Republik Indonesia. the Republic of Indonesia.
“Otoritas Jasa Keuangan” atau “OJK”: Lembaga negara “Financial Services Authority” or “OJK”: An independent
yang independen, yang mempunyai fungsi, tugas, dan state institution, which has the functions, duties, and
wewenang pengaturan, pengawasan, pemeriksaan, dan authorities to regulate, supervise, examine, and investigate
penyidikan sebagaimana dimaksud dalam Undang- as referred to in Law No. 21 of 2011 on the Financial
Undang No. 21 Tahun 2011 tentang Otoritas Jasa Services Authority, as amended by UUP2SK.
Keuangan, sebagaimana diubah dengan UUP2SK.
“Pemegang Saham”: Pihak-pihak yang tercatat dalam “Shareholders”: Parties who are registered in the
Daftar Pemegang Saham Perseroan yang Shareholders Register of the Company which is
diadministrasikan oleh Biro Administrasi Efek yang administered by the Securities Administration Bureau
ditunjuk Perseroan. appointed by the Company.
“Penilai Independen” atau “KJPP”: Kantor Jasa Penilai “Independent Appraiser” or “KJPP”: Public Appraisal
Publik Iskandar & Rekan, penilai independen yang Services Office of Iskandar & Rekan, independent
terdaftar di OJK yang telah ditunjuk Perseroan untuk appraisers registered with the OJK who have been
melakukan penilaian atas nilai wajar atas dan/atau appointed by the Company to conduct an assessment of the
kewajaran terhadap Transaksi. fair value and/or fairness of the Transaction.
“Perjanjian”: Perjanjian Jual Beli Bersyarat atas “Agreement”: Conditional Sale and Purchase Agreement
Peralatan dan Perjanjian Layanan Konsultasi Penunjang of Equipment and Supplementary Consultancy Services
antara PIN dan VGE beserta setiap perubahan- Agreement between PIN and VGE together with any
perubahan, tambahan-tambahan, dan pengganti- amendments, additions, and substitutes, which may be
pengganti, yang mungkin akan dibuat kemudian. subsequently made.
“Perseroan”: PT Merdeka Gold Resources Tbk, “Company”: PT Merdeka Gold Resources Tbk, domiciled in
berkedudukan di Jakarta Selatan, suatu perseroan South Jakarta, is a publicly listed company whose shares
terbuka yang sahamnya tercatat pada Bursa Efek are listed on the Indonesia Stock Exchange and which has
Indonesia serta memiliki Hong Kong Depositary Receipts Hong Kong Depositary Receipts through a secondary
melalui Secondary Listing yang tercatat pada Main Board listing on the Main Board of the Stock Exchange of Hong
of the Stock Exchange of Hong Kong Limited, dan didirikan Kong Limited, which is established and operated under the
serta dijalankan berdasarkan hukum negara Republik laws of the Republic of Indonesia.
Indonesia.
“PIN”: PT Pani Industri Nusantara, suatu perseroan “PIN”: PT Pani Industri Nusantara, a limited liability
terbatas yang didirikan dan tunduk pada hukum negara company duly organized and existing under the laws of the
Republik Indonesia, beralamat di Jalan Trans Sulawesi – Republic of Indonesia, having its address at Jalan Trans
Akses Bypass Road KM.0 Pani Gold Project RT. 000 RW. Sulawesi – Akses Bypass Road KM.0 Pani Gold Project RT.
000, Teratai, Marisa, Pohuwato, Gorontalo, Indonesia. 000 RW. 000, Teratai, Marisa, Pohuwato, Gorontalo,
Indonesia.
“POJK 17/2020”: Peraturan OJK No. 17/POJK.04/2020, “POJK 17/2020”: OJK Regulation No. 17/POJK.04/2020,
ditetapkan tanggal 20 April 2020 tentang Transaksi enacted on 20 April 2020 regarding Material Transaction
Material dan Perubahan Kegiatan Usaha. and Changes in Business Activities.
“POJK 42/2020”: Peraturan OJK No. 42/POJK.04/2020, “POJK 42/2020”: OJK Regulation No. 42/POJK.04/2020,
ditetapkan tanggal 1 Juli 2020 tentang Transaksi Afiliasi enacted on 1 July 2020 regarding Affiliated Transaction
dan Transaksi Benturan Kepentingan. and Conflict of Interest Transaction.
“RMB”: Rujukan ke Renminbi yang merupakan mata “RMB”: Reference to Renminbi, which is the legal currency
uang sah dari Republik Rakyat Tiongkok. of the People's Republic of China.
“Transaksi Afiliasi”: Setiap aktivitas dan/atau transaksi “Affiliated Transaction”: Any activity and/or transaction
yang dilakukan oleh perusahaan terbuka atau conducted by a public company or a controlled company
perusahaan terkendali dengan Afiliasi dari perusahaan with an Affiliate of a public company or an Affiliate of a
terbuka atau Afiliasi dari anggota direksi, anggota dewan member of the board of directors, a member of the board
komisaris, pemegang saham utama, atau pengendali, of commissioners, the major shareholders, or the
termasuk setiap aktivitas dan/atau transaksi yang controller, including any activity and/or transaction
dilakukan oleh perusahaan terbuka atau perusahaan conducted by a public company or controlled company for
Keterbukaan Informasi PT Merdeka Gold Resources Tbk/ Information Disclosure of PT Merdeka Gold Resources Tbk
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terkendali untuk kepentingan Afiliasi dari perusahaan the benefit of an Affiliate of a public company or an
terbuka atau Afiliasi dari anggota direksi, anggota dewan Affiliate of a member of the board of directors, member of
komisaris, pemegang saham utama, atau pengendali. the board of commissioners, major shareholders or the
controller.
“Transaksi Benturan Kepentingan”: Transaksi yang “Conflict of Interest Transaction”: Transaction that is
dilakukan oleh perusahaan terbuka atau perusahaan carried out by public company or controlled company with
terkendali dengan setiap pihak, baik dengan Afiliasi any party, whether an Affiliate or party other than an
maupun pihak selain Afiliasi yang mengandung Benturan Affiliate that contain a Conflict of Interest.
Kepentingan.
“Transaksi Material”: Setiap transaksi yang dilakukan “Material Transaction”: Any transaction conducted by a
oleh perusahaan terbuka atau perusahaan terkendali public company or a controlled company that fulfills the
yang memenuhi batasan nilai sebagaimana diatur dalam value limit as stipulated in POJK 17/2020.
POJK 17/2020.
“UUP2SK”: Undang-Undang No. 4 Tahun 2023 tertanggal “UUP2SK”: Law No. 4 of 2023 dated 12 January 2023 on
12 Januari 2023 tentang Pengembangan dan Penguatan Financial Sector Development and Strengthening, State
Sektor Keuangan, Lembaran Negara Republik Indonesia Gazette of the Republic of Indonesia No. 4 of 2023, along
No. 4 Tahun 2023, beserta perubahannya. with its amendment.
“VGE”: Vision Green Energy (Beijing) Tech, Co., Ltd., “VGE”: Vision Green Energy (Beijing) Tech, Co., Ltd., a
suatu perusahaan yang didirikan dan tunduk pada company duly organized and existing under the laws of the
hukum negara Republik Rakyat Tiongkok. People’s Republic of China.
PENDAHULUAN INTRODUCTION
Dalam rangka memenuhi ketentuan-ketentuan POJK In order to comply with the provisions of POJK 17/2020,
17/2020, Direksi Perseroan mengumumkan the Board of Directors of the Company announces
Keterbukaan Informasi untuk memberikan informasi Information Disclosure to provide information to the
kepada para Pemegang Saham Perseroan, bahwa PIN dan Shareholders of the Company, that PIN and VGE had signed
VGE telah menandatangani Perjanjian yang telah berlaku an Agreement that become effective on 21 August 2026,
efektif pada tanggal 21 Agustus 2026, dengan rincian with detail as described in the Transaction summary
sebagaimana diuraikan dalam ringkasan Transaksi di below.
bawah ini.
Sesuai dengan ketentuan Pasal 6 ayat (1) huruf a POJK According to Article 6 paragraph (1) letter a POJK
17/2020, Transaksi ini dikategorikan sebagai Transaksi 17/2020, this Transaction is categorized as a Material
Material yang wajib menggunakan penilai, namun tidak Transaction that is required to use an appraiser, but does
memerlukan persetujuan Rapat Umum Pemegang Saham not require the approval of the General Meeting of
sebagaimana dimaksud dalam Pasal 6 ayat (1) huruf d Shareholders as referred to in Article 6 paragraph (1)
POJK 17/2020 karena nilai Transaksi tidak melebihi 50% letter d POJK 17/2020, because the Transaction does not
(lima puluh persen) dari nilai ekuitas Perseroan. exceed 50% (fifty percent) of the Company’s equity value.
Sehubungan dengan pelaksanaan Transaksi, Perjanjian In connection with the implementation of the Transaction,
memuat pengaturan tertentu yang berkaitan dengan the Agreement contains certain provisions relating to an
Transaksi Afiliasi sebagaimana dimaksud dalam POJK Affiliated Transaction as referred to in POJK 42/2020,
42/2020, yang apabila direalisasikan akan dilakukan which, if implemented, will be carried out in accordance
sesuai dengan ketentuan Perjanjian. Namun demikian, with the provisions of the Agreement. However, the
Transaksi ini bukan merupakan Transaksi Benturan Transaction does not constitute a Conflict of Interest
Kepentingan sebagaimana dimaksud dalam POJK Transaction as referred to in POJK 42/2020.
42/2020.
Adapun Perseroan telah mendapatkan opini kewajaran The Company has received the fairness opinion for this
terhadap Transaksi ini berdasarkan Laporan Penilai No. Transaction based on the Appraiser’s Report No.
00103/2.0118-00/BS/02/0520/1/VIII/2026 tertanggal 00103/2.0118-00/BS/02/0520/1/VIII/2026 dated 19
19 Agustus 2026 dari KJPP Iskandar & Rekan perihal August 2026 from KJPP Iskandar & Rekan on the Fairness
Laporan Pendapat Kewajaran Rencana Transaksi Opinion Report on the Proposed Transaction of
Penyediaan Mesin dan Peralatan Serta Layanan Procurement of Machinery and Equipment and Supporting
Konsultasi Penunjang Dalam Rangka Pembangunan Consultancy Services for the Construction of PIN's Carbon-
Fasilitas Pengolahan Carbon-in-Leach (“CIL”) Milik PIN in-Leach (“CIL”) Processing Facility (a Controlled
(Perusahaan Terkendali Perseroan) oleh VGE Company of the Company) by VGE (“Appraiser’s Report”).
(“Laporan Penilai”).
Selanjutnya, sesuai dengan ketentuan Pasal 6 ayat (3) Furthermore, pursuant to the provision of Article 6
huruf a POJK 17/2020, Perseroan wajib mengumumkan paragraph (3) letter a POJK 17/2020, the Company is
Keterbukaan Informasi PT Merdeka Gold Resources Tbk/ Information Disclosure of PT Merdeka Gold Resources Tbk
Page 5
Keterbukaan Informasi kepada masyarakat dan required to announce the Information Disclosure to the
menyampaikan Laporan Penilai serta dokumen public and submit the Appraiser’s Report along with other
pendukung lainnya kepada OJK paling lambat 2 (dua) supporting documents to OJK no later than 2 (two)
hari kerja setelah tanggal Transaksi. working days after the date of the Transaction.
URAIAN MENGENAI TRANSAKSI DESCRIPTION OF THE TRANSACTION
A. Keterangan Mengenai Pihak-Pihak Yang A. Information Regarding the Parties Conducting
Melakukan Transaksi the Transaction
1. PIN 1. PIN
PIN didirikan berdasarkan Akta Pendirian PIN No. 38 PIN was established pursuant to Deed of Establishment
tertanggal 24 Januari 2025, yang dibuat di hadapan of PIN No. 38 dated 24 January 2025, made before
Darmawan Tjoa, S.H., S.E., Notaris di Jakarta, yang Darmawan Tjoa, S.H., S.E., Notary in Jakarta, which has
telah memperoleh pengesahan dari Menkum been ratified by MOL based on Decree on Ratification
berdasarkan Keputusan tentang Pengesahan of Legal Entity Incorporation of Limited Liability
Pendirian Badan Hukum Perseroan Terbatas No. Company No. AHU-0003534.AH.01.01.TAHUN 2025
AHU-0003534.AH.01.01.TAHUN 2025 tertanggal 29 dated 29 January 2025 ("Deed of Establishment of
Januari 2025 (“Akta Pendirian PIN”). PIN”).
Anggaran Dasar PIN telah mengalami perubahan PIN’s Articles of Association have been amended
sebagaimana diubah berdasarkan Akta Pernyataan pursuant to Deed of Statement of Circular Resolutions
Keputusan Sirkuler Sebagai Pengganti Rapat Umum in Lieu of the 2026 Annual General Meeting of
Pemegang Saham Tahunan 2026 PIN No. 48 Shareholders of PIN No. 48 dated 9 July 2026, made
tertanggal 9 Juli 2026, yang dibuat di hadapan before Darmawan Tjoa, S.H., S.E., Notary in Jakarta,
Darmawan Tjoa, S.H., S.E., Notaris di Jakarta, yang which amongst other, has been approved by the MOL
diantaranya, telah mendapat persetujuan dari based on Decree concerning the Approval of
Menkum berdasarkan Keputusan tentang Amendments to the Articles of Association of a Limited
Persetujuan Perubahan Anggaran Dasar Perseroan Liability Company No. AHU-0056325.AH.01.02 TAHUN
Terbatas No. AHU-0056325.AH.01.02 TAHUN 2026 2026 dated 20 July 2026.
tertanggal 20 Juli 2026.
Berdasarkan Pasal 3 Anggaran Dasar PIN, maksud Based on Article 3 of Articles of Association of PIN, the
dan tujuan PIN adalah untuk menjalankan usaha di purpose and objective of PIN is to operate in the
bidang industri logam dasar mulia. industry of precious basic metal.
Untuk mencapai maksud dan tujuan tersebut di atas, To achieve the abovementioned purpose and objective,
PIN dapat melaksanakan kegiatan usaha Industri PIN may carry out business activities in the Industry of
Logam Dasar Mulia (KBLI 24201), yaitu mencakup Precious Basic Metal (KBLI 24201), namely the
pembuatan, pemurnian, peleburan, serta pemaduan, manufacturing, refining, smelting, also alloying, and
dan penuangan logam mulia dalam bentuk dasar casting precious metals in basic forms (ingot, billet,
(ingot, bilet, slab, batang, pellet, block, sheet, pig, slab, rod, pellet, block, sheet, pig, alloy, and powder)
paduan, dan bubuk) seperti ingot perak, ingot emas, such as silver ingot, gold ingot, and platinum pellet.
dan pellet platina.
Struktur Permodalan dan Susunan Pemegang Capital Structure and Shareholders’ Composition
Saham PIN of PIN
Berdasarkan Akta Pendirian PIN, struktur Based on the Deed of Establishment of PIN, the capital
permodalan dan susunan pemegang saham PIN structure and shareholders’ composition of PIN are as
adalah sebagai berikut: follows:
Nilai Nominal Rp1.000.000 per saham/
Nominal Value of IDR1,000,000 per share
No. Keterangan/ Description Jumlah Saham/
Nilai Nominal (Rp)/
Number of %
Nominal Value (IDR)
Shares
A. Modal Dasar/ Authorized Capital 30,000 30,000,000,000
B. Modal Ditempatkan dan Disetor Penuh/ Issued and Fully Paid-up Capital
1. PT Puncak Emas Tani Sejahtera 5,500 5,500,000,000 55.00
2. PT Gorontalo Sejahtera Mining 4,500 4,500,000,000 45.00
Jumlah Modal Ditempatkan dan Disetor Penuh/
10,000 10,000,000,000 100.00
Total of Issued and Fully Paid-up Capital
C. Saham dalam Portepel/ Unissued Shares 20,000 20,000,000,000 -
Keterbukaan Informasi PT Merdeka Gold Resources Tbk/ Information Disclosure of PT Merdeka Gold Resources Tbk
Page 6
Susunan Direksi dan Dewan Komisaris PIN Composition of the Board of Director and Board of
Commissioner of PIN
Berdasarkan Akta Pendirian PIN, susunan Direksi Based on the Deed of Establishment of PIN, the
dan Dewan Komisaris PIN adalah sebagai berikut: composition of the Board of Director and Board of
Commissioner of PIN are as follows:
Dewan Komisaris/ Board of Commissioner
Komisaris/ Commissioner : Cahyono Seto
Direksi/ Board of Director
Direktur/ Director : Boyke Poerbaya Abidin
2. VGE 2. VGE
VGE adalah suatu perusahaan yang didirikan dan VGE is a company established and existing under the
tunduk pada hukum negara Republik Rakyat laws of the People’s Republic of China, having its
Tiongkok, beralamat di Room 1005A, Lantai 10, Unit address at Room 1005A, 10th Floor, Unit 101, 2nd to
101, Lantai 2 sampai dengan Lantai 16, Building 124, 16th Floors, Building 124, No. 42 Liangmaqiao Road,
No. 42 Liangmaqiao Road, Chaoyang District, Beijing, Chaoyang District, Beijing, People’s Republic of China.
Republik Rakyat Tiongkok.
B. Nilai Transaksi dan Ruang Lingkup Perjanjian B. Transaction Value and the Scope of the
Agreement
Berdasarkan Perjanjian, PIN sebagai pembeli dan Based on the Agreement, PIN as a buyer and VGE as a
VGE sebagai penjual sepakat untuk melakukan jual seller agreed to enter into a conditional sale and
beli peralatan dan mesin serta layanan konsultasi purchase of equipment and machinery, and the
penunjang. Peralatan, mesin dan layanan konsultasi supplementary consultancy services. The equipment,
penunjang tersebut akan digunakan untuk the machinery and the supplementary consultancy
keperluan pembangunan fasilitas pengolahan CIL. services will be used for the construction of a CIL
processing plant.
Selain mengatur ketentuan mengenai jual beli In addition to the provisions regarding the sale and
peralatan dan mesin serta layanan konsultasi purchase of equipment and machinery, and the
penunjang, Perjanjian juga memuat pengaturan supplementary consultancy services, the Agreement
tertentu terkait mekanisme pemenuhan kewajiban also contains specific provisions relating to
berdasarkan Perjanjian, yang dalam kondisi tertentu mechanism for the fulfillment of obligations under
dapat diberikan oleh PIN dan/atau pihak the Agreement, which, under certain circumstances,
terafiliasinya sesuai dengan ketentuan Perjanjian. may be provided by the PIN and/or its affiliates in
accordance with the terms of the Agreement.
Adapun estimasi nilai Transaksi adalah sebesar The estimated Transaction value is
RMB1.024.202.348 (satu miliar dua puluh empat RMB1.024.202.348 (one billion twenty-four million
juta dua ratus dua ribu tiga ratus empat puluh two hundred two thousand three hundred forty-eight
delapan renminbi) berdasarkan kurs tengah Bank renminbi), based on the Bank Indonesia middle
Indonesia per 31 Maret 2026. exchange rate as of 31 March 2026.
Selanjutnya, nilai Transaksi tersebut merupakan Furthermore, the value of the Transaction is 40.26%
40,26% (empat puluh koma dua enam persen) dari (forty-point two six percent) of the Company's equity
nilai ekuitas Perseroan berdasarkan Laporan value based on the Company's Interim Consolidated
Keuangan Konsolidasian Interim Perseroan dan Financial Statements and its subsidiaries for the three
entitas anak untuk periode tiga bulan yang berakhir months periods ended 31 March 2026, audited by
pada tanggal 31 Maret 2026 yang diaudit oleh Tanubrata Sutanto Fahmi Bambang & Rekan Public
Kantor Akuntan Publik Tanubrata Sutanto Fahmi Accounting Firm. Accordingly, the Transaction
Bambang & Rekan. Dengan demikian, Transaksi constitutes a Material Transaction, where the value
merupakan Transaksi Material, di mana nilai dari of the Transaction exceeds 20% (twenty percent) of
Transaksi melebihi 20% (dua puluh persen) dari the Company's equity value.
nilai ekuitas Perseroan.
RINGKASAN LAPORAN PENILAI SUMMARY OF APPRAISER’S REPORT
KJPP yang telah ditunjuk oleh Direksi Perseroan sebagai KJPP who has been appointed by the Company’s Board of
penilai independen sesuai dengan surat Directors as the independent appraiser in accordance
proposal/kontrak perjanjian kerja No. with the proposal letter/contract work agreement No.
Keterbukaan Informasi PT Merdeka Gold Resources Tbk/ Information Disclosure of PT Merdeka Gold Resources Tbk
Page 7
085.2/IDR/DO.2/Pr-FO/VI/2026 tertanggal 29 Juni 085.2/IDR/DO.2/Pr-FO/VI/2026 dated 29 June 2026,
2026, telah diminta untuk memberikan penilaian atas have been requested to provide an assessment of and
dan memberikan pendapat atas kewajaran Transaksi. provide an opinion of the fairness of the Transaction.
Laporan Pendapat Kewajaran atas Transaksi Fairness Opinion Report on Transaction
a. Pihak-Pihak yang Bertransaksi a. The Transacting Parties
Pihak-pihak yang bertransaksi adalah PIN sebagai The transacting parties are PIN as the buyer and user
pembeli serta pengguna jasa dan VGE sebagai of the services, and VGE as the seller of machinery and
penjual mesin dan peralatan serta penyedia layanan equipment and provider of supporting consulting
konsultasi penunjang dalam rangka pembangunan services in connection with the development of the CIL
fasilitas pengolahan CIL. processing facility.
b. Objek Penilaian b. Appraisal Object
Objek penilaian adalah penyediaan mesin dan Appraisal object is the supply of machinery and
peralatan serta layanan konsultasi penunjang dalam equipment and the provision of supplementary
rangka pembangunan fasilitas pengolahan CIL milik consultancy services by VGE for the construction of
PIN oleh VGE. PIN's CIL processing facility.
c. Maksud dan Tujuan Penilaian c. Purpose and Objective of the Appraisal
Maksud penilaian adalah untuk memberikan The purpose of the appraisal is to provide an
penilaian independen atas pendapat kewajaran independent appraisal of the fairness opinion on the
(fairness opinion) atas rencana Transaksi dengan proposed Transaction for the purpose of its
tujuan pelaksanaan transaksi. implementation.
d. Asumsi-Asumsi dan Kondisi Pembatas d. Principal Limiting Assumptions and Condition
1. Laporan Penilai bersifat non-disclaimer opinion. 1. The Appraiser’s Report is a non-disclaimer
opinion.
2. Penilai melakukan pemeriksaan atas status 2. The appraiser reviews the legal status of the
hukum dokumen-dokumen yang digunakan documents used in the appraisal process.
dalam proses penilaian.
3. Data dan informasi berasal dari sumber yang 3. The data and information come from sources
dapat dipercaya keakuratannya. whose accuracy can be trusted.
4. Proyeksi keuangan yang digunakan adalah 4. The financial projection used is a financial
proyeksi keuangan yang telah disesuaikan yang projection that have been adjusted to reflect the
mencerminkan kewajaran proyeksi keuangan fairness of the financial projections made by
yang dibuat oleh manajemen dengan management with their ability to achieve
kemampuan pencapaiannya (fiduciary duty), jika (fiduciary duty), if the assessment uses financial
penilaian menggunakan proyeksi keuangan. projections.
5. Penilai bertanggung jawab atas pelaksanaan 5. The appraiser is responsible for the
penilaian dan kewajaran proyeksi keuangan. implementation of assessments and the fairness of
financial projections.
6. Laporan Penilai terbuka untuk publik kecuali 6. The Appraiser’s Report may be disclosed to the
informasi yang bersifat rahasia, yang dapat public, except for confidential information that
mempengaruhi operasional perusahaan. may affect the Company’s operations.
7. Penilai bertanggung jawab atas Laporan Penilai 7. The appraiser is responsible for the Appraiser’s
dan kesimpulan nilai akhir. Report and the conclusion of the final appraisal.
8. Penilai memperoleh informasi atas status hukum 8. The appraiser has obtained information on the
objek penilaian dari Perseroan. legal status of the appraisal object from the
Company.
9. Asumsi-asumsi dan kondisi pembatas lainnya 9. Assumptions and other limiting conditions are
diungkapkan dalam laporan KJPP. disclosed in the KJPP report.
Keterbukaan Informasi PT Merdeka Gold Resources Tbk/ Information Disclosure of PT Merdeka Gold Resources Tbk
Page 8
e. Pendekatan dan Metode e. Approach and Method
Sesuai dengan ruang lingkup penilaian, pendekatan, In accordance with the scope of the appraisal,
dan metode yang digunakan adalah: approaches, and methods used are:
1. melakukan analisis Transaksi; 1. conduct Transaction analysis;
2. melakukan analisis kualitatif atas rencana 2. conduct qualitative analysis of the proposed
Transaksi; Transaction;
3. melakukan analisis kuantitatif atas rencana 3. conduct quantitative analysis of the proposed
Transaksi; Transaction;
4. melakukan analisis kewajaran nilai Transaksi; 4. conduct a fairness analysis of the proposed
dan Transaction value; and
5. melakukan analisis atas faktor lain yang relevan. 5. conduct analysis of other relevant factors.
f. Kesimpulan f. Conclusion
Objek transaksi adalah penyediaan mesin dan The object of the transaction is the supply of
peralatan serta layanan konsultasi penunjang dalam machinery and equipment and the provision of
rangka pembangunan fasilitas pengolahan CIL milik supporting consulting services by VGE in connection
PIN oleh VGE. Dikarenakan objek transaksi tersebut with the construction of PIN's CIL processing facility.
perlu dilakukan penyediaan dengan spesifikasi yang Since the object of the transaction needs to be supplied
sesuai dengan kebutuhan PIN yang pada saat ini with specifications that are suitable for PIN's
belum ada wujudnya, maka penilaian objek requirements and does not currently exist in physical
transaksi atau penilaian aset tidak dapat dilakukan. form, the transaction object valuation or asset
Kewajaran nilai objek transaksi dihitung valuation cannot be performed. The fairness of the
berdasarkan analisis kelayakan investasi value of the transaction object is calculated based on
penyediaan mesin dan peralatan serta layanan an investment feasibility analysis of the supply of
konsultasi penunjang dalam rangka pembangunan machinery and equipment and the provision of
fasilitas pengolahan CIL milik PIN oleh VGE. Dengan supporting consulting services in connection with the
demikian hasil penilaian objek transaksi tidak ada. construction of PIN's CIL processing facility by VGE.
Accordingly, there is no valuation result for the object
of the transaction.
Hasil analisis atas nilai dari objek yang The results of the analysis of the value of the
ditransaksikan dengan menghitung kewajaran nilai transaction object by calculating the fairness of the
objek transaksi berdasarkan analisis kelayakan transaction object value based on the investment
investasi perolehan penyediaan mesin dan peralatan feasibility analysis of the acquisition and provision of
serta layanan konsultasi penunjang dalam rangka machinery and equipment and supporting consulting
pembangunan fasilitas pengolahan CIL oleh services in connection with the construction of the CIL
Perseroan secara konsolidasi. Berdasarkan analisis processing facility by Company on a consolidated
kelayakan investasi objek transaksi menghasilkan basis. Based on the investment feasibility analysis, the
IRR lebih besar dari tingkat diskonto WACC dan NPV transaction object resulted in an IRR greater than the
lebih besar dari nol. Dengan demikian memberikan WACC discount rate and an NPV greater than zero.
kesimpulan bahwa rencana nilai transaksi adalah Accordingly, it is concluded that the proposed
wajar. transaction value is fair.
Hasil analisis atas dampak keuangan dari Transaksi The results of the analysis of the financial impact of
yang akan dilakukan terhadap kepentingan the proposed Transaction on the interests of the
pemegang saham memberikan kesimpulan bahwa shareholders concludes that the Transaction will
dengan dilakukannya Transaksi akan meningkatkan increase revenue and profitability, thereby creating
pendapatan dan laba yang dapat memberikan nilai added value for the Company in line with the interests
tambah bagi Perseroan sejalan dengan kepentingan of its shareholders.
pemegang saham.
Hasil analisis atas pertimbangan bisnis dari The results of the management’s business analysis
manajemen terkait dengan Transaksi terhadap regarding the Transaction and its impact on the
kepentingan pemegang saham adalah rencana interests of the shareholders concludes that proposed
transaksi merupakan bagian dari strategi Perseroan transactions forms part of the Company's strategy,
melalui PIN untuk meningkatkan kapasitas through PIN, to increase the processing capacity of the
pengolahan tambang emas Pani sebesar 12 juta ton Pani gold mine to 12 million tonnes of ore per annum,
in line with the interests of its shareholders.
Keterbukaan Informasi PT Merdeka Gold Resources Tbk/ Information Disclosure of PT Merdeka Gold Resources Tbk
Page 9
bijih per tahun sejalan dengan kepentingan
pemegang saham.
Berdasarkan kesimpulan dari hasil analisis tersebut Based on the conclusions from the results of the
di atas, maka KJPP berpendapat bahwa rencana analysis above, KJPP is of the opinion that the
Transaksi adalah wajar. proposed Transaction is fair.
PENJELASAN, PERTIMBANGAN, DAN ALASAN EXPLANATION, CONSIDERATIONS, AND REASONS
DILAKUKANNYA TRANSAKSI MATERIAL SERTA FOR ENTERING INTO THE MATERIAL
PENGARUH TRANSAKSI MATERIAL TERHADAP TRANSACTION AND ITS IMPACT ON THE
KONDISI KEUANGAN PERSEROAN COMPANY’S FINANCIAL CONDITION
Dengan dilaksanakannya Transaksi, diharapkan By carrying out the Transaction, it is expected to optimally
kelancaran operasional tambang emas Pani dapat support the efficient operation of the Pani gold mine
semakin ditingkatkan melalui pengadaan fasilitas CIL. through the procurement of the CIL facility. This
Pengadaan fasilitas tersebut merupakan bagian dari procurement of such facility forms part of the Company's
strategi Perseroan untuk meningkatkan kapasitas strategy to increase processing capacity, support the
pengolahan, mendukung keberlanjutan kegiatan sustainability of its mining operations, and support the
operasional pertambangan, serta mendukung achievement of the Company's production targets.
pencapaian target produksi Perseroan.
Transaksi ini tidak menimbulkan dampak material This transaction does not have a material impact on the
terhadap kondisi keuangan Perseroan dan diharapkan Company’s financial position and is expected to add value
memberikan nilai tambah bagi Perseroan melalui to the Company through improved operational efficiency
peningkatan efisiensi operasional serta pengembangan and the expansion of its business activities
kegiatan usaha.
PERNYATAAN DEWAN KOMISARIS DAN DIREKSI STATEMENT OF THE BOARD OF COMMISSIONERS AND
PERSEROAN BOARD OF DIRECTORS OF THE COMPANY
Dewan Komisaris dan Direksi Perseroan baik secara The Board of Commissioners and Board of Directors of the
sendiri-sendiri maupun bersama-sama menyatakan Company, either individually or jointly, state that all
seluruh informasi material sehubungan dengan material information related to the Transaction has been
Transaksi telah diungkapkan dan informasi tersebut disclosed and the information is not misleading, and the
tidak menyesatkan, dan Transaksi bukan merupakan Transaction is not considered Conflict of Interest
Transaksi Benturan Kepentingan sebagaimana Transaction as referred to POJK 42/2020.
dimaksud dalam POJK 42/2020.
Direksi Perseroan menyatakan bahwa Perjanjian juga The Board of Directors of the Company stated that the
memuat pengaturan tertentu yang berkaitan dengan Agreement also contains certain provisions relating to an
Transaksi Afiliasi sebagaimana dimaksud dalam POJK Affiliated Transaction as referred to in POJK 42/2020, the
42/2020, yang pelaksanaannya bergantung pada implementation of which is subject to the provisions of the
ketentuan Perjanjian. Agreement.
Keterbukaan Informasi PT Merdeka Gold Resources Tbk/ Information Disclosure of PT Merdeka Gold Resources Tbk
Page 10
INFORMASI TAMBAHAN ADDITIONAL INFORMATION
Apabila memerlukan informasi lebih lanjut dapat For further information, you can contact the Company at
menghubungi Perseroan dengan alamat: the following address:
PT Merdeka Gold Resources Tbk
Sekretaris Perusahaan/ Corporate Secretary
Treasury Tower, Lantai/ Floor 67, District 8, SCBD Lot 28
Jl. Jend. Sudirman Kav. 52-53, Senayan, Kebayoran Baru, Jakarta Selatan/ South Jakarta 12190, Indonesia
Telepon/ Phone: +62 21 3952 5585
Faksimile/ Facsimile: +62 21 3952 5588
Surat Elektronik/ E-mail: corsec@merdekagoldresources.com
Situs Web/ Website: www.merdekagoldresources.com
Keterbukaan Informasi PT Merdeka Gold Resources Tbk/ Information Disclosure of PT Merdeka Gold Resources Tbk
Names mentioned 25 people and organisations named in the text · linked when the evidence is strong
unresolved
org
PT Pani Industri Nusantara
p.1 ×4
unresolved
org
Indonesia Stock Exchange
p.3 ×2
unresolved
org
Menteri Hukum Republik Indonesia
p.3
unresolved
org
Minister of Law
p.3
unresolved
org
Menteri Hukum dan Hak
p.3
unresolved
org
Minister of Law and Human Rights
p.3
unresolved
org
Financial Services Authority
p.3
unresolved
org
Public Appraisal Publik Iskandar & Rekan
p.3
unresolved
org
Iskandar & Rekan
p.3 ×3
unresolved
org
Hong Kong Limited
p.3
unresolved
org
Kong Limited
p.3
unresolved
person
Darmawan Tjoa
· Notaris
p.5 ×5
unresolved
org
Terbatas
p.5
unresolved
org
PT Puncak Emas Tani Sejahtera
p.5
unresolved
org
PT Gorontalo Sejahtera Mining
p.5
unresolved
org
Bank Indonesia
p.6
unresolved
org
Tanubrata Sutanto Fahmi Bambang & Rekan
p.6
unresolved
org
Kantor Akuntan Publik Tanubrata Sutanto Fahmi
p.6
unresolved
org
Transaction Bambang & Rekan
p.6
Extraction attempts how the parser did, and what it refused
Nothing structured was extracted from this document — the attempts below say why.
Rule parser
Needs review
confidence 0.455
2817 ms
12 Sep 2026 21:41
Raw output
{'appraiser_exempt': None,
'appraiser_name': '',
'assets': [{'area_sqm': None,
'category': 'MACHINERY',
'description': 'adalah penyediaan mesin dan The object of the '
'transaction is the supply of'}],
'currency': None,
'fact_type': '',
'issuer_name': '',
'kind': 'MATERIAL',
'kjpp_name': '',
'letter_number': '',
'object_text': 'adalah penyediaan mesin dan The object of the transaction is '
'the supply of',
'object_truncated': True,
'parties': [],
'pct_of_equity': None,
'reference_period': '',
'requires_rups': False,
'rups_date': None,
'ticker': '',
'transaction_date': None,
'valuation_date': None,
'value': '50'}