Chandra Asri and Krakatau Steel Officially Signed the Deed of Sale and Purchase of Shares

The subsidiary of PT Krakatau Steel (Persero) Tbk, namely PT Krakatau Sarana Infrastruktur ("PT KSI"), has officially closed the transaction on the Conditional Shares and Purchase Agreement ("CSPA") or Conditional Share Sale and Purchase Agreement with PT Chandra Asri Petrochemical Tbk ("Chandra Asri ") through its affiliates on Monday, 27 February 2023. This procession was carried out by signing by Plt. President Director of PT KSI Anton Firdaus and President Director of Chandra Asri Erwin Ciputra witnessed by the President Director of PT Krakatau Steel (Persero) Tbk, Purwono Widodo. After the CSPA points have been fulfilled, the share purchase process proceeds to the Share Purchase Deed signing. The signing was agreed on the transferring 70% of PT KSI's shares in PT Krakatau Daya Listrik ("PT KDL") and 49% of PT KSI's shares in PT Krakatau Tirta Industri ("PT KTI") to Chandra Asri. Therefore Chandra Asri is now officially the shareholder of two subsidiaries of PT KSI. With this collaboration, the synergy between PT KSI and Chandra Asri is hoped to increase the water and energy supply capacity for industrial needs in Cilegon and the surrounding community. This corporate action is also carried out to optimize utilities as support for the operational, technical and financial processes, especially for the future development of Chandra Asri's second global-scaled petrochemical complex (CAP2).