ANNOUNCEMENT FOR PLAN FOR IMPLEMENTATION OF 2018 CAPITAL INCREASE PT SARIMELATI KENCANA Tbk (the “Company”)

The Company hereby announces the Plan for Implementation of Capital Increase under the Management and Employee Stock Ownership Plan, which had been ratified under the General Meeting of Shareholders dated 9th of March 2018. For the purpose of Capital Increase Without Pre-emptive Rights, the Company intends to issue shares (A) for the Phase I in the cumulative amount of 9,065,625 (nine million sixty five thousand six hundred twenty five) shares, and (B) for the Phase II in the cumulative amount of 9,065,625 (nine million sixty five thousand six hundred twenty five) shares, with nominal value of Rp.100 (one hundred Rupiah) per new shares. The schedule for implementation of Capital Increase Without Pre-emptive Rights shall be, as follows:

Capital Increase Without Pre-emptive Rights: 26th of May 2020
Announcement of Implementation Result: 8th of July 2020

Capital Increase Without Pre-emptive Rights shall be implemented at the exercise price in the amount of Rp.1,112 (one thousand one hundred twelve Rupiah).

Jakarta, 15th of June 2020

Board of Directors