PT HAILIANG NOVA MATERIAL INDONESIA signs Binding Land Sale and Purchase Agreement for building Copper Foil Production Factory in JIIPE SEZ

JAKARTA, 30 March 2023

This announcement is made by the Board of Directors of PT AKR Corporindo Tbk on a voluntary basis relating to the signing of Binding Sale Purchase Agreement by PT HAILIANG NOVA MATERIAL INDONESIA (Hailiang) with PT Berkah Manyar Sejahtera (BKMS), a Joint Venture company between PT AKR Corporindo Tbk and PELINDO, for acquisition of land for the Copper Foil production plant in JIIPE, Gresik, Indonesia.

On 29^th March 2023, a Binding Sale and Purchase Agreement was entered into between Hailiang and BKMS. Pursuant to the Agreement, BKMS has agreed to sell, and Hailiang has agreed to purchase a large lot of industrial land for the construction of Hailiang’s copper foil production plant in JIIPE Special Economic Zone (SEZ JIIPE).

Zheijang Hailiang Co., Ltd - Listed at Shenzhen Stock Exchange (stock code: 002203) in January 2008, Zhejiang Hailiang Co., Ltd. is devoted to the R&D, manufacture, sales and services of high-end copper products (copper pipes, rods, pipe connectors, new conductor materials and copper processing equipment, etc.). It has currently become one of the largest and most competitive copper processing enterprises in the world, the largest exporter for copper pipes and their connectors in China, and one of benchmark enterprises of refined management in copper processing. Meanwhile, long-term cooperation has been established between Hailiang and more than 800 clients in 188 countries and regions around the world. The Company operates 22 manufacturing sites across USA, Europe, Southeast Asia and China.

Hailiang also signed agreements with BKMS for cooperation to provide various utilities including electricity, water, natural gas, sewage treatment, telecommunication and internet facilities and other infrastructure and facilities to support the construction and operation of Hailiang Copper processing facilities in SEZ JIIPE.

Mr. Bambang Soetiono, President Director of BKMS, and Representative of Zheijang Hailiang Signing a Sale Purchase Binding Agreement and Land Handover Minute

Welcoming Hailiang, Mr Bambang Soetiono, President Director of BKMS said “We are extremely happy to sign the Land Sale and Purchase Agreements with PT HAILIANG NOVA MATERIAL INDONESIA for the Copper production facilities in JIIPE.  Hailiang is a prestigious foreign investor who will bring significant benefits including much needed foreign investment and also world class products which would be required by various industries in Indonesia. JIIPE Special Economic Zone will provide all required facilities and assistance to Hailiang to construct and commission the Copper Foil production facilities and provide world class utilities and facilities for Hailiang’s production activities in JIIPE Special Economic Zone. With addition of Hailiang as our tenant, we are confident that JIIPE may become downstream and EV ecosystem which will benefit Indonesia.

“We thank our shareholders PT AKR Corporindo Tbk and Pelindo for all the support and guidance given to us to develop JIIPE SEZ and provide world class facilities to our customers” added Mr Bambang.

Corporate Secretary

PT AKR Corporindo Tbk

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