Investors

Christine

Independent Member

She started her career as a Senior Associate Auditor at Public Accountant Ernest & Young-Prasetio, Sarwoko & Sandjaja (November 2002 – August 2004), Senior Manager of Accounting at PT Matahari Putra Prima Tbk (August 2004 – April 2013), and Chief Financial Officer at PT Nadya Putra Investama (April 2013 – October 2021).

She is 43 years old as of December 31, 2024, an Indonesian citizen. She holds a Bachelor of Economics degree majoring in Accounting from Tarumanagara University.

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Marlin

Business Conducts and Ethics

Marlin

Independent Member

She started her career as Staff of Account Payable, General Ledger, and Payroll of PT Matahari Putra Prima Tbk – Medan Branch from 1993 to 1995, then served as Senior Supervisor at PT Matahari Putra Prima Tbk – Jakarta Head Office from 1996 to 1998. Lastly, she served as Senior Project Specialist and Head of the Budget Department at the Company from 1999 to January 2022.

She is 50 years old as of December 31, 2024, an Indonesian citizen. She obtained her Diploma in Information Management from AMIK Jendral Sudirman Medan in 1994 and a Bachelor of Economics majoring in Accounting from STIE Y.A.I Jakarta in 1995.

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Business Conducts and Ethics

Good Corporate Governance

Governance Guidelines

Audit Committee

Nomination & Remuneration

Corporate Secretary

Internal Audit

Disclosures of Affiliations

Articles of Association

Business Conducts and Ethics

Ethics and Integrity

Internal Control System

Code of Conduct

Risk Management

Whistleblowing System

Audit Committee

Audit Committee is a committee under the Board of Commissioners which was established to assist the Board of Commissioners in fulfilling their supervisory duties in terms of methodology and process of financial reporting, risk management, audit and compliance with prevailing laws and regulations. The Audit Committee will carry out its functions, duties and responsibilities according to OJK Regulation No.55/POJK.04/2015 dated December 29, 2015 concerning Establishment and Guidelines for the Implementation of Audit Committee Duty (POJK 55/2015).

AUDIT COMMITTEE CHARTER
The Audit Committee has a Charter or Guidelines that regulates structure, membership requirements, duties and responsibilities, authorities, meeting implementation, reporting, and the term of office of the Audit Committee. The Audit Committee Charter has been uploaded on the Company’s website and is reviewed periodically to comply with prevailing regulations.

The membership, composition, and independence of the Audit Committee members have complied with OJK regulations, namely POJK 55/2015 and the Audit Committee Charter. The Audit Committee Charter stipulates that the term of office of the Audit Committee is the same as the term of office of the Board of Commissioners. The composition of the Company’s Audit Committee currently consists of 1 (one) Chairman who is an Independent Commissioner and 2 (two) members who are not members of the Board of Commissioners and are Independent Parties with competence and qualifications in the financial field.

Based on the Decree of the Company’s Board of Commissioners Number CSS.050-2024 dated May 28, 2024, the composition of the Company’s Audit Committee for the term of office commencing on May 28, 2024 until the closing of the Annual General Meeting of Shareholders for Financial Year 2025 which will be held in 2026, is as follows:

Chairman: Alexander S. Rusli
Members:
- Christine Tanujaya
- Marlin

INDEPENDENCY OF THE AUDIT COMMITTEE
To ensure independence and professionalism in carrying out the duties and responsibilities of the Audit Committee, Independent Commissioner leads the Audit Committee with 2 (two) members from external party of the Company, one of whom is an expert in accounting and finance.

Members of the Audit Committee are not affiliated nor employed by the public accountants, consulting firms, or third parties who provided services to the Company within the last 6 (six) months. Members of the Audit Committee are not people who work or have the authority and responsibility to plan, lead, control or supervise the activities of the Company within the last 6 (six) months, except for Independent Commissioners. The Audit Committee members also do not have any direct or indirect shares ownership in the Company, and not having any family relationships or affiliations with the Board of Commissioners or Board of Directors members, shareholders or controlling parties that may affect their duty performance.

DUTY AND RESPONSIBILITY
As stipulated in the Audit Committee Charter, the Audit Committee has duties and responsibilities to supervise several activities, among others:

Provide oversight including financial, risk management and internal audit activities as well as compliance and legal in the Company.
Provide independent opinion regarding dissenting opinion between management and the Accountants for their services;
Review implementation of audit done by the Internal Auditor and supervise implementation of follow-up actions by the Board of Directors on the internal auditors’ findings;
Examine complaints related to the Company’s accounting and financial reporting processes; and
Review and provide advice to the Board of Commissioners regarding potential conflict of interest within the Company.

AUDIT COMMITTEE MEETING
The Audit Committee is required to arrange a meeting at least 1 (one) time in 3 (three) months. Audit Committee meetings are considered valid and binding if attended by more than ½ (half) of the number of Committee members. Decisions are taken based on deliberation and consensus. The Minutes of Meeting archives and records every discussion and decision, including any dissenting opinion. All of the attending Audit Committee members shall sign the Minutes of Meeting which are further submitted to the Board of Commissioners.

Alexander S. Rusli

Chairman

Alexander S. Rusli

Chairman

Aside as a Chairman of the Nomination and Remuneration Committee, Alexander S. Rusli concurrently serves as the Company’s Independent Commissioner.

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Christine

Christine

Independent Member

She is 43 years old as of December 31, 2024, an Indonesian citizen. She holds a Bachelor of Economics degree majoring in Accounting from Tarumanagara University.

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Marlin

Head of Internal Audit Unit

Marlin

Independent Member

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Audit Committee Charter (EN)

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Audit Committee Charter (ID)

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Corporate Secretary

To enhance transparency, service, and communication with stakeholders, as a crucial implementation of Good Corporate Governance (GCG), the Company is mandated to establish the role of a Corporate Secretary. The Corporate Secretary serves as the intermediary, bridging the interests of the Company with those of shareholders, regulators, and stakeholders.

The appointment of the Corporate Secretary adheres to the guidelines outlined in Financial Services Authority Regulation No.35/POJK.04/2014, dated 8 December 2014, on the function of Corporate Secretary of the Issuer or Public Company.

Duties and Responsibilities

As the primary liaison between the Company and its stakeholders, the Corporate Secretary plays a critical role in ensuring regulatory compliance, information disclosure, and smooth internal and external communication. The duties and responsibilities of the Corporate Secretary include:

Compliance and Reporting: Ensuring the Company’s compliance with capital market regulations and other relevant laws. Facilitating timely reporting to OJK, IDX, and other regulatory bodies while upholding transparency and legal compliance.
Board and Shareholder Communication: Acting as a liaison among the Board of Directors, Board of Commissioners, Audit Committee, and shareholders; organizing meetings for the Board of Commissioners, Board of Directors, Audit Committee, and General Meetings of Shareholders (GMS), as well as preparing agendas, minutes, and resolutions as needed.
Corporate Governance: Supporting the implementation of good corporate governance practices by promoting transparency, accountability, and ethical standards across all business units and ensuring compliance with Government and Regulators’ requirements.
Information Disclosure: Managing the disclosure of information related to corporate actions, financial performance, and other material events to the public, in compliance with information disclosure regulations set by OJK.
Stakeholder Relations: Maintaining effective relationships with stakeholders, including regulators, investors, and the media, to ensure consistent communication aligned with the Company’s objectives and regulatory standards.

Agus Arismunandar

Corporate Secretary

Agus Arismunandar

Corporate Secretary

Agus Arismunandar, age 59, is an Indonesian citizen and resides in Jakarta.

He has an educational background in engineering and business management. He earned his Bachelor of Science (BSc) degree in Electrical Engineering from California State University, Long Beach, USA, in 1988. He then continued his studies and earned a Master of Business Administration (MBA) degree with a specialization in Marketing and IT from the University of California, Davis, USA, in 1991.

He started his career in Lippo Group in 2006 when he joined PT Matahari Department Store Tbk, with his last position as Head of Marketing & Promotion. In 2013, he joined PT Multipolar Tbk as Head of Investor Relations and in 2019 he was appointed as a member of the Board of Directors of PT Multipolar Tbk. In addition, he has also served as Director of PT Star Pacific Tbk from 2022 to May 2025 and President Commissioner of PT Lenox Pasifik Investama Tbk from 2020 to June 2025.

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Internal Audit

The Internal Audit Unit is responsible for evaluating the effectiveness of the Company’s internal control systems and ensuring that operational activities align with established policies and procedures. Under OJK Regulation No. 56/POJK.04/2015 on the Formation and Implementation of Internal Audit Unit, the Internal Audit function is tasked with reviewing risk management practices, identifying weaknesses in controls, and recommending improvements. Thus, Internal Audit ensures that the Company’s operations are efficient, compliant, and secure.

Organization Structure of the Internal Audit Unit

Based on the Financial Services Authority (OJK) Regulation No. 56/POJK.04/2015 and the Company’s Internal Audit Charter, the Internal Audit Unit must consist of at least one Internal Auditor. The Head of the Internal Audit Unit is appointed and dismissed by the President Director with the approval of the Board of Commissioners. The Internal Audit Unit reports directly to the President Director, but functionally, the unit has direct communication access with the Audit Committee to coordinate and provide information related to the implementation and results of the audits conducted.

As of November 1, 2025, the organizational structure of the Company’s Internal Audit Unit consists of a Head of Internal Audit Unit and one member responsible for overseeing the overall implementation of internal audit activities.

Duties and Responsibilities

The Internal Audit Unit is tasked with ensuring the effectiveness of governance and internal controls within the Company. Some of the key responsibilities include:

Annual Work Plan: Creating and implementing the annual audit work plan based on the priorities and needs of the Company.
Evaluating Internal Control: Testing and assessing the internal control systems and risk management practices in accordance with the Company’s policies.
Efficiency and Effectiveness: Conducting audits on the efficiency and effectiveness across various areas, including finance and
Improvement Recommendations: Offering recommendations for improvements based on audit findings to enhance the Company’s performance and management.
Audit Reports: Preparing audit reports and submitting them to the President Director and Board of Commissioners (through the Audit Committee).
Monitoring Follow-up Actions: Tracking and reporting the implementation of corrective actions that have been suggested.
Collaboration with Other Functions: Working closely with the Audit Committee and other governance functions, such as External Audit and Risk Management.
Audit Quality Evaluation: Developing programs to evaluate the quality of internal audit activities to ensure sustained quality.

Internal Audit Charter

The Internal Audit Charter establishes guidelines for conducting the company’s internal audit activities in accordance with applicable regulations. This allows the internal audit unit to function effectively, efficiently, and professionally within the rights, obligations, and responsibilities assigned to it. The Board of Directors established the Internal Audit Charter and the Board of Commissioners approved it on April 25, 2025. To ensure compliance with regulations and effective implementation, the charter will be periodically evaluated.

Key aspects of the Internal Audit Charter include:

Vision and mission
Purposes of Internal Audit Charter
Scope
Structure and capacity
Duties and responsibilities
Authority
Code of Ethics
Membership requirements
Accountability
Independence
Stipulation and Renewal of the Charter

Ernest Alto

Ernest Alto

Head of Internal Audit Unit

Ernest Alto is a 53-year-old Indonesian citizen residing in Jakarta. On November 1, 2025, he was appointed Head of Internal Audit based on the Board of Commissioners’ Circular Letter No. CSS.76-2025 and the Board of Directors’ Letter of Appointment No. CSS.75-2025.

From 1995 to 1999, he began his professional career at the accounting firm Prasetio Utomo and Partners (Arthur Andersen & Co). He then worked as Corporate Controller at Media Indonesia Group (1999–2002) and continued his career at PT Siemens Indonesia, where his last position was Chief Risk Officer (2002–2015). Subsequently, he served as VP Risk, Compliance and Performance Management at PT Telkom Tetranet Aplikasi Solusi (Telkomtelstra) (2015–2017) and Chief Audit Executive at PT Mitra Pinasthika Mustika Tbk (2017–2019), as well as Chief Financial Officer at PT Tiga Pilar Sejahtera Food Tbk. Since 2021, he has also served as the Head of the Internal Audit Unit of PT Lippo Karawaci Tbk.

Ernest Alto obtained a Bachelor of Accounting degree from Padjadjaran University, Bandung, in 1995 with the State Register of Accountants No. D-14281, updated to No. RNA20146. He also holds a Master of Management degree from the Institut Pengembangan Manajemen Indonesia (IPMI) and a Master of Law degree from the University of Indonesia. He is a member of the Indonesian Institute of Accountants and a certified Chartered Accountant (CA), as well as a member of the Institute of Internal Auditors (IIA) and a Certified Internal Auditor (CIA) (CSN 37212) (2002). He is also qualified as a Certified Management Accountant (CMA) (CID-0441) (200) from the Institute of Certified Management Accountants (ICMA) Australia.

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Internal Audit Charter

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Historical Lookup

Stock Information

Historical Lookup

Shareholder Composition

Dividend

Historical Lookup

Stock Highlights

Quarterly Stock Price	Quarter 1	Quarter 2	Quarter 3	Quarter 4
2024
Highest (Rp)	75	65	99	220
Lowest (Rp)	50	50	50	72
Closing (Rp)	51	50	77	95
Volume (Shares)	1,476,523,500	1,955,033,500	5,164,534,200	21,093,305,600
Market Capitalization (Rp)	799,798,523,337	784,116,199,350	1,207,538,946,999	1,489,820,778,765
2023
Highest (Rp)	131	95	109	90
Lowest (Rp)	75	82	82	69
Closing (Rp)	92	86	86	73
Volume (Shares)	1,793,500,000	775,365,900	1,681,336,500	1,159,508,600
Market Capitalization (Rp)	1,442,773,806,804	1,348,679,862,882	1,348,679,862,882	1,144,809,651,051

History of Shares Registration on the Indonesia Stock Exchange

Corporate Action	Registration Date	Total Additional Shares (Shares)	Total Outstanding Shares After Transaction	Nominal Value per share (Rp)
Initial Public Offering	6-Nov-89	3,428,000	3,428,000	1,000
Stock Listing	16-Jul-90	8,000,000	11,428,000	1,000
Bonus Shares (1:2)	9-Nov-92	22,856,000	34,284,000	1,000
Right Issue with Preemptive Rights I (1:3 @Rp1,000)	12-Jul-96	102,852,000	137,136,000	1,000
Stock Split	1-Apr-97	137,136,000	274,272,000	500
Right Issue with Preemptive Rights II (10:55 @Rp500)	14-Jul-97	1,508,496,000	1,782,768,000	500
Limited Rights Issue	27-Jul-00	89,000,000	1,871,768,000	500
Right Issue with Preemptive Rights III (4:5 @Rp125)	24-Jun-05	2,339,710,000 B Class Share	1,871,768,000 A Class Share	A Class @Rp500
Right Issue with Preemptive Rights III (4:5 @Rp125)	24-Jun-05	2,339,710,000 B Class Share	2,339,710,000 B Class Share	B Class @Rp125
Right Issue with Preemptive Rights IV (18:11 @Rp125)	8-Dec-06	2,573,681,000 B Class Share	1,871,768,000 A Class Share	A Class @Rp500
Right Issue with Preemptive Rights IV (18:11 @Rp125)	8-Dec-06	2,573,681,000 B Class Share	4,913,391,000 B Class Share	B Class @Rp125
Reverse Stock (4:1)	12-Apr-10		467,942,000 A Class Share	A Class @Rp2,000
Reverse Stock (4:1)	12-Apr-10		1,228,347,890 B Class Share	B Class @Rp500
Right Issue with Preemptive Rights V (9:32 @Rp125)	14-Apr-10	6,031,252,940 C Class Share	467,942,000 A Class Share	A Class @Rp2,000
			1,228,347,890 B Class Share	B Class @Rp500
			6,031,252,940 C Class Share	C Class @Rp100
Warrant Issue	14-Dec-10 until 12-Apr-13	2,337,204,493 C Class Share	467,942,000 A Class Share	A Class @Rp2,000
			1,228,347,890 B Class Share	B Class @Rp500
			8,368,457,433 C Class Share	C Class @Rp100
Right Issue with Preemptive Rights VI (11:5 @Rp110)	12-Jul-18	4,574,885,147 C Class Share	467,942,000 A Class Share	A Class @Rp2,000
			1,228,347,890 B Class Share	B Class @Rp500
			12,943,342,580 C Class Share	C Class @Rp100
Right Issue with Preemptive Rights VII (51:7 @Rp500)	31-Mar-22	1,042,691,517 C Class Share	467,942,000 A Class Share	A Class @Rp2,000
			1,228,347,890 B Class Share	B Class @Rp500
			13,986,034,097 C Class Share	C Class @Rp100

Dividend

Dividend Policy

Net Profit After Tax	Percentage of Cash Dividend to Net Profit after Tax
Up to Rp100 billion	10-15%
More than Rp100 billion	15-25%

Pursuant to the respective Articles of Association and the laws and regulations in Indonesia, the payment/distribution of dividends is approved by the shareholders through the General Meeting of Shareholders on the Board of Directors’ recommendation. Payment/distribution of dividends take into account the Company and its subsidiaries’ financial position without prejudice to the rights of the Company’s General Meeting of Shareholders.

History of Dividend Payouts

Date Issued	Period (Fiscal Year)	AGMS Date	Dividend (Rp)	Number of Shares	Dividend Amount Paid (Rp)
–	2020	19 Jul 21	–	14,639,632,470	–
–	2021	23 May 22	–	15,682,323,987	–
–	2022	8 May 23	–	15,682,323,987	–

Financial Highlights

Financial Information

Financial Highlights

Annual Report & Sustainability Report

Financial Reports

Financial Highlights

In million Rupiah, unless otherwise stated

Description	2024	2023	2022	2021	2020
Consolidated Statements of Financial Position
Total Assets	13,128,088	13,089,217	13,082,641	14,997,409	15,682,406
Total Liabilities	8,252,978	8,390,166	8,488,639	10,361,176	11,719,043
Total Equity	4,875,110	4,699,051	4,594,002	4,636,233	3,963,363
Consolidated Statements of Profit or Loss and Other Comprehensive Income
Net Sales	11,400,819	10,962,823	10,917,615	10,310,153	10,277,387
Gross Profit	1,975,847	2,088,930	1,933,103	1,854,336	2,027,436
Profit (loss) for the year	153,181	34,647	(60,666)	25,990	(989,536)
Profit (loss) for the year attributable to :
Owners of the Parent	159,191	172,049	151,227	201,258	(793,095)
Non-Controlling Interest	(6,010)	(137,402)	(211,893)	(175,268)	(196,441)
Comprehensive Income (Loss) for the year	251,775	203,153	(344,366)	(149,059)	(981,578)
Total Comprehensive Income (Loss) Attributable to :
Owners of the Parent	253,508	342,836	(138,510)	11,536	(832,440)
Non-Controlling Interest	(1,733)	(139,683)	(205,856)	(160,595)	(149,138)
Basic Earnings (Losses) per Share (in full Rupiah)	10	11	10	14	(54)

Financial Ratio

Description	2024	2023	2022	2021	2020
Return on Assets (%)	1.2	0.3	-0.5	0.2	-6.3
Return on Equity (%)	3.1	0.7	-1.3	0.6	-25.0
Net Profit Margin (%)	1.3	0.3	-0.6	0.3	-9.6
Current Ratio (x)	1.0	1.0	1.0	1.2	0.8
Liabilities on Equity Ratio (x)	1.7	1.8	1.8	2.2	3.0
Liabilities on Assets Ratio (x)	0.6	0.6	0.6	0.7	0.7

Presentation

Investor Materials

Presentation

Prospectus

General Meeting of Shareholders

Presentation

2025

MPC Update FY25

2024

MPC Update FY24

2023

MPC Update FY23

2022

MPC Update FY22

2021

MPC Update FY21

2020

MPC Update FY20

2019

MPC Update FY19

2018

MPC Update FY18

Prospectus

10 March 2022

Abridged Prospectus PUT VII MLPL

10 January 2022

Abridged Prospectus PUT VII MLPL

02 July 2018

Abridged Prospectus PUT VI MLPL (Additional Information)

19 February 2018

Abridged Prospectus PUT VI MLPL

General Meeting of Shareholders

2025

Notification to the Shareholders (AGMS)

AGMS Invitation

Power of Attorney

Agenda & Rules of AGMS

Notification of AGMS Results

2024

Notification to the Shareholders (AGMS)

AGMS Invitation

Power of Attorney

Agenda & Rules of AGMS

CV of BOC Candidate

Notification of AGMS Results

2023

Notification to the Shareholders (AGMS)

AGMS Invitation

Power of Attorney

Agenda & Rules of AGMS

CV of BOC Candidate

Notification of AGMS Results

2022

Notification to the Shareholders (AGMS)

AGMS Invitation

Agenda & Rules of AGMS

Explanation on the Agenda of AGMS

Power of Attorney

Notification of AGMS Results

2021

Notification to the Shareholders (EGMS)

EGMS Invitation

Power of Attorney

Rules of GMS

Notification of EGMS Results

Notification to the Shareholders (AGMS)

Notice of Postponed AGMS

Notification to the Shareholders (GMS)

GMS Invitation

Agenda of GMS

Power of Attorney

CV of BOC Candidate

CV of BOD Candidate

Revision of GMS Invitation

Rules of GMS

Notification of AGMS Results

Notification of EGMS Results

2020

Notification to the Shareholders (AGMS)

AGMS Invitation

Agenda & Rules of AGMS

Power of Attorney

Explanation on the Agenda of AGMS

CV of BOD Candidate

Notification of AGMS Results

2019

Notification to the Shareholders (AGMS)

AGMS Invitation

Explanation on the Agenda of AGMS

CV of the BOD Candidates

Notification of AGMS Results

2018

Notification to the Shareholders (AGMS)

Invitation Annual General Meeting of Shareholders

Explanation on the Agenda of the AGMS

Revision on Invitation of AGMS

CV of the BOC Candidates

CV of the BOD Candidates

Notification of AGMS Results

Invitation Extraordinary General Meeting of Shareholders III

Notification of EGMS III Results

2017

Invitation Extraordinary General Meeting of Shareholders II

Notification of EGMS II Results

Notification to the Shareholders (EGMS)

Invitation Extraordinary General Meeting of Shareholders

Explanation on the Agenda of the EGMS

Notification of EGMS Results

Notification to the Shareholders (AGMS)

Invitation Annual General Meeting of Shareholders

Explanation on the Agenda of the AGMS

Notification of AGMS Results

2016

Notification to the Shareholders

Invitation Annual General Meeting of Shareholders

Explanation on the Agenda of the AGMS

Notification of AGMS Results

2015

Notification to the Shareholders

Invitation Annual General Meeting of Shareholders

Notification of Annual General Meeting Results

Candidate Director of The Company