General Announcement::Update to Noteholders

THIS NOTICE CONTAINS IMPORTANT INFORMATION THAT IS OF INTEREST

TO THE REGISTERED AND BENEFICIAL OWNERS OF THE SUBJECT SECURITIES. IF APPLICABLE, ALL DEPOSITORIES, CUSTODIANS AND OTHER INTERMEDIARIES RECEIVING THIS NOTICE ARE REQUESTED TO EXPEDITE THE TRANSMITTAL TO BENEFICIAL OWNERS OF THE SECURITIES IN A TIMELY MANNER.

NOTICE TO NOTEHOLDERS

PT Sri Rejeki Isman Tbk

(the "Company")

US$225,000,000 7.25% Senior Notes due 2025 issued by PT Sri Rejeki Isman Tbk

CUSIP Number: 69408L AB2 / Y714AG AB8

ISIN: US69408LAB27 / USY714AGAB82

Common Code: 206596945 / 206597208

(the "Sritex Notes")

US$150,000,000 6.875% Senior Notes due 2024 issued by Golden Legacy Pte Ltd and

unconditionally and irrevocably guaranteed by PT Sri Rejeki Isman Tbk

CUSIP Number: 38109KAC9 / Y2749KAC4

ISIN: US38109KAC99 / USY2749KAC46

Common Code: 157922092 / 157922718

(the "Golden Legacy Notes")

Dear Holders:

We write in relation to the Sritex Notes and the Golden Legacy Notes. We write to provide an update with respect to the restructuring efforts of the Company and its subsidiaries (the "Sritex Group"). Unless otherwise defined, capitalized terms used in this letter shall have the meaning given to them in our previous notices.

Extension of Moratorium in Singapore

As previously stated, on 21 April 2021, the Company's subsidiaries in Singapore, Golden Legacy Pte Ltd and Golden Mountain Textile and Trading Pte Ltd (the "Singapore Subsidiaries") made applications in the General Division of the High Court of the Republic of Singapore (the "Singapore Court") for a moratorium under section 64 of the Insolvency, Restructuring and Dissolution Act (Act No 40 of 2018, Singapore) in case numbers HC/OS 388/2021 and HC/OS 389/2021 (the "Singapore Moratorium Applications").

The Singapore Moratorium Applications are intended to provide the Sritex Group and its creditors with the space and time to complete the ongoing restructuring discussions. The Singapore Moratorium Applications were approved by the Singapore Court on 21 May 2021 and a moratorium was granted in respect of each of the Singapore Subsidiaries for an initial 3- month period until 21 August 2021.

In advance of the previous end date of the moratorium, the Singapore Subsidiaries made applications in the Singapore for a 6-month extension of the moratorium (the "Singapore Moratorium Extension Applications"). The Singapore Moratorium Extension Applications have been sought in order to align the restructuring proceedings in Singapore with the Sritex Group's restructuring proceedings in Indonesia which have been extended by the Indonesian Court.

The Sritex Group is pleased to announce that the Singapore Court has approved the Singapore Moratorium Extension Applications and granted a six-month extension of the moratorium to protect the Singapore Subsidiaries while the PKPU Proceeding remains ongoing.

The Sritex Group is encouraged by the Singapore Court's approval of the Singapore Moratorium Extension Applications and will continue its good faith efforts to achieve a successful restructuring that is in the best interests of all creditors of the Sritex Group.

Business Plan and Financial Forecast Presentation

In addition, further to our announcement on 30 July 2021, the Sritex Group is also pleased to announce that the Sritex Group will present its business plan and financial forecast (the "Business Plan and Financial Forecast Presentation") to the creditors in the PKPU Proceeding on 19 August 2021.

Details on the Business Plan and Financial Forecast Presentation and the registration procedures set out by the independent administrators in the PKPU Proceeding are set out in the enclosed announcement dated 16 August 2021 issued by the independent administrators in the PKPU Proceeding (the "16 August Announcement").

Holders of the Sritex Notes and Golden Legacy Notes are welcome to attend the Business Plan Financial Forecast Presentation and should follow the procedures set out in the enclosed 16 August Announcement.

Additional information

The Sritex Group will provide a further update when there are relevant developments and/or other matters contemplated by this announcement. Holders of the Golden Legacy Notes and the Sritex Notes should direct any queries to the Sritex Group's international restructuring advisor and international legal counsel at the contact details provided below:

PT AJCapital Advisory

International Restructuring Advisor

Geoffrey D. Simms, CEO and Partner ([e-mail])

Fransiscus Alip, Partner ([e-mail])

Gibson, Dunn & Crutcher LLP

International Legal Counsel

Troy Doyle, Partner, Co-Chair - Restructuring ([e-mail])

Jakarta / Singapore

17 August 2021

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