ANJ APPOINTED A NEW DIRECTOR AND AGREED TO DISTRIBUTE DIVIDEND

Jakarta, June 7, 2023 - PT Austindo Nusantara Jaya Tbk. ("ANJ"; IDX: ANJT) held its 2023 Annual General Meeting of Shareholders (AGMS) on Wednesday, 7 June 2023. At the AGM, ANJ's shareholders agreed, among other things, to changes in the composition of the Board of Commissioners and Directors, as well as the distribution of dividends to shareholders.

The President Director of ANJ, Lucas Kurniawan, stated that the 2023 AGMS had approved the resignation of Istama Tatang Siddharta as Commissioner, which became effective as of the closing date of the AGMS. The AGMS also approved changes to the composition of ANJ's Board of Directors following the appointment of Mohammad Fitriyansyah as Director of ANJ, which became effective as of the closing date of the AGMS. Fitriyansyah has been with ANJ since 2017. Currently, he holds the position of President Director in several ANJ subsidiaries, including PT Austindo Nusantara Jaya Agri, PT Permata Putera Mandiri, PT Putera Manunggal Perkasa, as well as Director in several other ANJ subsidiaries. Fitriyansyah brings over 31 years of experience in Engineering, Procurement, and Construction Management in infrastructure projects such as roads and bridges, power plants, power distribution, and oil and gas plants.

The composition of ANJ's Board of Commissioners and Board of Directors after the 2023 AGMS is as follows:

Board of Commissioners:

1. President Commissioner (Independent): Adrianto Machribie
2. Commissioner: George Santosa Tahija
3. Commissioner: Sjakon George Tahija
4. Commissioner: Anastasius Wahyuhadi
5. Independent Commissioner: J. Kristiadi
6. Independent Commissioner: Darwin Cyril Noerhadi
7. Commissioner: Istini Tatiek Siddharta

Directors:

1. President Director: Lucas Kurniawan
2. Vice President Director: Geetha Govindan
3. Director: Naga Waskita
4. Director: Aloysius D'Cruz
5. Director: Nopri Pitoy
6. Director: Mohammad Fitriyansyah

"In addition to the changes in the composition of the Board of Commissioners and Directors, the AGMS also discussed the distribution of dividends for the financial year ending December 31, 2022. The amount of dividends to be distributed is Rp. 27.8 per share," explained Lucas.

ANJ Performance and Strategy for 2023

On the same day, ANJ held a Public Expose to present the company's performance and achievements. In the first quarter of 2023, ANJ recorded revenue of US$ 50.88 million, a decrease of 32.7% compared to last year.

ANJ's Director of Finance, Nopri Pitoy, explained that ANJ's revenue mainly came from CPO, amounting to US$ 50.08 million. "Although the current CPO price has corrected due to nearing production peak, we believe the long-term CPO price trend is still bullish. Factors influencing CPO's selling price include supply disruptions, the energy crisis resulting from prolonged political tensions between Ukraine and Russia, and the escalation of the conflict between China and Taiwan. Additionally, the potential for El Nino may disrupt global supply and palm oil production."

Nopri also elaborated on the company's strategy for the year, which involves replanting old and unproductive plantations to maintain a balanced age profile. This approach aims to accelerate future growth while ensuring profitability and cash flow.

"Until the first quarter of 2023, 45% of our oil palm trees were in prime condition, aged between 8 and 20 years. The next 24% of our oil palm trees are young, and 14% are considered old. This condition is the result of replanting efforts carried out by the company since 2015. As of the first quarter of 2023, 9,586 hectares of land have been replanted, including 370 hectares replanted in the first quarter of 2023," added Nopri.

Other strategies to increase productivity include agronomic innovation, technology adoption, and digital transformation using GIS and EPMS (Electronic Plantation Mobile Solution). Various innovations will also be implemented to mitigate the impact of extreme weather conditions caused by climate change, such as composting, drip fertigation, and water management.

"We aim to increase productivity in the long term and maintain future growth by implementing a strategy to balance the age of our plants through the replanting program. We will continue practicing sustainable farming through agronomic innovation, technology adoption, and digital transformation while pursuing our ESG ambitions," concluded Nopri.

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