PT Indika Energy Tbk : EMITS Signed Contract with Sampoerna Kayoe Group to Develop a Power Plant with Capacity of 12MWp Solar and 3MWh Battery

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9 March 2022

EMITS SIGNED CONTRACT WITH SAMPOERNA KAYOE GROUP TO DEVELOP A POWER PLANT WITH CAPACITY OF 12 MWp SOLAR PV AND 3MWh BATTERY

Through EMITS, Indika Energy Will Build a Hybrid Solar Power Plant Supported by Largest Battery

Capacity in Indonesia

JAKARTA - On 7 March 2022, PT Empat Mitra Indika Tenaga Surya ("EMITS"), a joint venture company between PT Indika Energy Tbk ("Indika") and Forth Partner Energy Pte Ltd ("4PEL"), signed a contract to build and operate a solar power plant with capacity of 12 MWp and 3 MWh battery system with PT Mangole Timber Producer ("Mangole"), a member of Sampoerna Kayoe Group, for a 20-year period. The solar PV will be installed on ground mounted in their new plywood factory complex, which located in Falabisahaya Mangole, North Maluku, Indonesia. The project is expected to have 12 months constuction period and to commence the operation in June 2023. The signing ceremony was attended by Arsjad Rasjid, President Director of Indika Energy, and Michael Sampoerna, President Commisioner of PT Sumber Graha Sejahtera, parent company of Mangole.

"This cooperation is very strategic for Indika Energy and Sampoerna Kayoe, through which we will build a hybrid solar power plant with capacity of 12 MWp and supported by battery energy storage system with capacity of 3MWh, which currently is the largest battery capacity in Indonesia. Going forward, we also plan to develop other solar power plants projects for Sampoerna Kayoe Group across Indonesia," said Arsjad Rasjid.

"Sampoerna Kayoe is pleased to cooperate with Indika Energy to build an environmental friendly solar power plant. This is in line with Sampoerna Kayoe's mission to reduce carbon emission and to integrate sustainability aspects into our operation in Mangole, North Maluku. We also believe the capacity and compentency of Indika Energy as a well-known national energy company," said Michael Sampoerna.

For Indika Energy, the development of solar power as one of the renewable energy sources is part of Indika Energy's commitments in diversifying business portfolio to achive target revenue of 50% from non-coal, improving Environment, Social, Governance (ESG) performance, and also supporting the government in achieving renewable energy mix target of 23% by 2025. EMITS aims to install 500MWp solar power by 2025.

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PT Indika Energy Tbk. ("Indika Energy") is Indonesia's leading integrated energy company through its strategic investments in the areas of Energy Resources - coal production (PT Kideco Jaya Agung, PT Multi Tambangjaya Utama); coal trading (Indika Capital Investment Pte. Ltd.); Energy Services - EPC - oil & gas (PT Tripatra Multi Energi, PT Tripatra Engineers & Constructors, PT Tripatra Engineering); EPC - contract mining (PT Petrosea Tbk. (IDX: PTRO).); Energy Infrastructure -PT Sea Bridge Shipping, PT Cotrans Asia, PT Indika Logistic & Support Services, PT Kuala Pelabuhan Indonesia); fuel storage (PT Kariangau Gapura Terminal Energi); coal -fired power plant (PT Cirebon Electric Power and PT Prasarana Energi Cirebon); Other Portfolios - gold production (Nusantara Resources Limited, PT Masmindo Dwi Area), IT enterprise (PT Xapiens Teknologi Indonesia), digital technology services (PT Zebra Cross Teknologi), green businesses (PT Indika Multi Properti, PT Empat Mitra Indika Tenaga Surya and PT Electra Mobilitas Indonesia).

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Ricardo Silaen, CFA - Head of Investor Relations

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