AKR Corporindo won the Best Company in the Oil & Gas Category at the 2023 Bisnis Indonesia Award

JAKARTA, 31 May 2023– PT AKR Corporindo (IDX stock code: AKRA.IJ) is proud to receive the Best Issuer award in the Oil & Gas Category at the 2023 Bisnis Indonesia Award which was held offline at the JW Marriot hotel, Jakarta 31 May 2023. The awarding event was titled "Growing in a New Era” This is an appreciation to AKR as a company that has successfully adapted to changes in the business environment and consistently implements the right strategy so that it continues to provide positive performance.

The Bisnis Indonesia Award 2023 is a prestigious event held by Indonesia's leading media, Bisnis Indonesia which has been running since 2002 and as a form of appreciation for corporations that have shown the best performance, especially those whose shares are traded on the Indonesia Stock Exchange. The assessment, which involves various parties, including senior economists, investment management companies and other parties, is based on the company's performance both corporately and on the stock exchange. In the 2023 assessment, the jury also included Environmental, Social and Good Governance (ESG) factors as the main assessment points.

Mr. Mahendra Siregar as Chairman of the Board of Commissioners of the Financial Services Authority (OJK) who was present virtually, in his opening remarks said "We give this award as an appreciation for the performance of companies that continue to grow amidst changing conditions in the world supply chain which are considered full of geopolitical interests that refer to the need for efficiency , competitiveness and comprehensive distribution so that we can report, growth performance and performance improvements across the industry and stability in the first quarter of this year to May can be confirmed to maintain good performance according to the plan.

Representing the Company, Mr. Suresh Vembu as Director and Corporate Secretary stated, "AKR has continued to innovate in developing its business since running the chemical trading business, then becoming a major player in the BBM trading business, until getting the opportunity to develop the JIIPE integrated industrial area and continuing to apply the best ESG practices with efficiency. operational and emission reduction thanks to the support of our IT technology and also the initiation of clean and renewable energy.”

"With the right business model and strategy, AKRA has managed to achieve consistent performance over the past 3 years, despite the volatility of commodity prices and significant supply chain disruptions. In 20222 we managed to record a net profit growth of 116% to IDR 2,403 billion YoY and this performance continued in the first quarter of 2023 where the Company also managed to record a double digit net profit growth of 42% reaching IDR 607 billion YoY, while maintaining cash flow as well as the strength of the balance sheet.” Mr. Suresh Vembu added.

He also expressed his gratitude for the support and appreciation from Bisnis Indonesia and the Company's stakeholders, and expressed his hope that this award would motivate PT AKR Corporindo Tbk to be more agile in facing change and seizing opportunities.

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