Certain Ordinary Shares of PT Paperocks Indonesia Tbk are subject to a Lock-Up Agreement Ending on 1-APR-2024. These Ordinary Shares will be under lockup for 241 days starting from 4-AUG-2023 to 1-APR-2024.

Details:
Based on POJK No. 25 of 2017, all parties who acquire Company shares at an exercise price below the Initial Public Offering price within 6 (six) months prior to submission of registration to the OJK are prohibited from transferring part or all of the Company's shares owned up to 8 (eight) months after the registration statement in connection with the Initial Public Offering becomes effective.

Based on the Statement Letter dated July 17, 2023, Philip Sumali as the controlling shareholder stated that he would not transfer his ownership shares within 12 (twelve) months after the Registration Statement became Effective.