PT Perusahaan Gas Negara Tbk announced the expiration and results of its previously announced tender offer to purchase for cash any and all of its outstanding 5.125% Senior Notes due 2024 . The Tender Offer was made pursuant to a Tender Offer Memorandum, dated May 18, 2023 which is available on the tender website at https://deals.is.kroll.com/pgn. Capitalized terms used but not defined herein have the meanings assigned to them in the Tender Offer Memorandum.

The Tender Offer expired at 5:00 p.m., New York time, on May 25, 2023 ("Expiration Time"). As at the Expiration Time, the Company received valid tenders under the Tender Offer, which had not been withdrawn in respect of the Notes, of an aggregate principal amount of US$499,851,000 of Notes, representing approximately 52.62% of the total principal amount outstanding of the Notes. No Notes was tendered pursuant to the Guaranteed Delivery Procedures.

Subject to the satisfaction or waiver of the conditions set forth in the Tender Offer Memorandum, the Company has decided to accept for purchase all of the Notes validly tendered. The Tender Offer Consideration is US$1,006 per US$1,000 principal amount of the Notes. The aggregate consideration expected to be paid by the Company on the Payment Date to the holders of the Notes tendered and accepted for purchase is US$502,850,106, plus Accrued Interest Payment.