United Tractors’ Subsidiary Company enters into Subscription Agreement at Supreme Energy Sriwijaya, a geothermal company, as commitment to support green energy business development

Jakarta, 8^th August 2023 – PT Energia Prima Nusantara (EPN) – a company who is owned 51.01% by PT United Tractors Tbk (UT) and 48.99% by PT Pamapersada Nusantara (PAMA) has executed the signing of a Subscription Agreement on Monday, 7th August 2023 to acquire 40.476% new shares issued by PT Supreme Energy Sriwijaya (SES).

SES is one of the shareholders of PT Supreme Energy Rantau Dedap (SERD), a company that owns a Geothermal License with an existing capacity of 2 x 49 MW that has been operating in Lahat Regency, City of Pagar Alam and Muara Enim Regency, South Sumatera Province.

For information, prior to the right issue, SES is owned by PT Supreme Energy (SE). Other than SES, SE also has investments in two other geothermal projects, one in Muara Laboh and another in Rajabasa.

“Investment in PT Supreme Energy Sriwijaya is aligned with the company’s business development strategy and is part of our commitment to continue developing green energy business as part of UT Group’s 2030 Sustainability Aspiration,” commented Frans Kesuma as President Director of UNTR in its press release.

In addition, SERD has the opportunity to increase its capacity to a total of 2 x 110 MW in the future, in accordance with its Power Purchase Agreement (PPA) with PLN.

The Subscription Agreement signing is represented by Chinthya Theresa Am and Boy Gemino Kalauserang as President Director and Director of EPN, as well as Supramu Santosa and Nisriyanto as President Director and Director of SES.

The signing process is witnessed by Frans Kesuma as President Director of UT,Hendra Hutahean as President Director of PAMA, and Aditya Praristama as Commisioner of SE. Completion of the Transaction is conditional on satisfaction of certain conditions precedent by each party.

About PT Energia Prima Nusantara

PT Energia Prima Nusantara (EPN) was established in 2014 and since 2018 has focused its business on the development of renewable energy. Currently EPN has business portfolios in green energy such as the distribution and installation of solar photovoltaic, mini hydro power plant, and is continuing to develop into other energy sectors.

About PT Supreme Energy Sriwijaya

PT Supreme Energy Sriwijaya (SES) is a company established in 2010 and focuses on the development of geothermal energy. SES has the experience and competence in conducting exploration, construction, and operation in generating geothermal energy. SES is one of the sponsors in the geothermal project of PT Supreme Energy Rantau Dedap (SERD) which has achieved Commercial Operation Date on 26^th December 2021.

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