Jakarta, 2 November 2021 – PT TBS Energi Utama Tbk (“TBS”) is committed to achieving net zero emissions by 2030. This Net Zero Emission target is much earlier than the 2060 target set by the Indonesian Government. Such above target was disclosed by TBS management in its latest Management Discussion and Analysis report (MD&A) published on the Indonesia Stock Exchange website and the Company’s website.

TBS’ concrete steps on its commitment to achieving Net Zero Emission by 2030 TBS is evident in 2021 through the Company’s recent divestment of its 5% stake in PT Paiton Energy, the largest Independent Power Producer (IPP) company in Indonesia with a capacity of 2,045 MW. TBS owned PT Paiton Energy through PT Karya Baru TBS (formerly named PT Batu Hitam Perkasa). In addition, TBS has recently joined as participant in the United Nations (UN) Global Compact, a non-binding UN pact with a set of strategic initiatives to encourage businesses to adopt principles in the areas of human rights, employment, environment, and anti-corruption, as well as their conduct of regular reporting. TBS also has changed its company’s website into www.tbsenergi.com in line with its initiative and commitment related to the sustainability.

Meanwhile, Pandu Sjahrir, Vice President Director of TBS, said that "Our participation in the UN Global Compact is an important step for us as part of our corporate transformation towards sustainable businesses. This participation also complements our commitment to implementing the Sustainability Development Goals (SDG), which we have already started to implement much earlier.”

TBS' commitment to achieving Net Zero Emission by 2030 is also reflected in the TBS business development road map until 2030. "Our commitment to achieving Net Zero Emission by 2030 is expected to be realized through our business plan until 2030. During the period of 2021 until 2025, we have planned to fully reinvest proceeds from our existing fossil fuel-based business activities into the clean energy-related sectors, such as renewable energy and electric vehicles (EV). Furthermore, from 2026 until 2030 will be a period of phasing out our fossil fuel-based business activities” said Pandu. Pandu then said that in terms of capital expenditure, TBS has committed to investing up to US$ 500 million in the next 5 years in the renewable and clean energy sector. TBS is currently identifying business opportunities and investments, in particular, in the areas of hydroelectricity, biomass, wind, and EV (including batteries).

Finally, as part of the Company's commitment and as a form of its support for the Indonesian Government's efforts related to sustainability, TBS will participate in the Climate Change Conference (COP26) in Glasgow. In this event, President Joko Widodo is expected to become a speaker; while TBS is one of several listed companies from the private sector that has been invited to speak, and to be represented by Mr. Bambang Brodjonegoro, TBS Independent Commissioner, and Mr. Dicky Yordan, TBS President Director.

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