06 August 2024

EGMS Approves ROTI Share Buyback at a Maximum Price of Rp1,700

Jakarta, August 6, 2024 – PT Nippon Indosari Corpindo Tbk (stock code: ROTI), the first and largest mass bread producer in Indonesia with the brands “Sari Roti”, “Sari Kue”, and “Sari Choco”, held an Extraordinary General Meeting of Shareholders (EGMS) this morning at Hotel Mulia Jakarta.

Today's meeting discussed a single agenda item, namely the Company's Share Buyback Plan, which aims to stabilize and maintain the Company's stock price at a favorable level.

Shareholders have approved the Company to proceed with the buyback of up to 88 million shares at a maximum price of Rp1,700 per share. This is a positive catalyst for ROTI's stock trading, which closed at Rp1,000 per share on Monday (5/8).

The Share Buyback will be funded using the Company's internal funds. According to the Financial Statements as of June 30, 2024, Net Cash from Operating Activities amounted to Rp214.1 billion, exceeding the allocation needed for the Share Buyback of Rp149.6 billion.

The implementation of the Share Buyback is also expected to provide flexibility in long-term capital management through the sale of the repurchased shares at an optimal value in the future.

PT Nippon Indosari Corpindo Tbk

Wisma GKBI Lt. 12 Suite 1217

Jl. Jend. Sudirman No.28

Central Jakarta

About the Company:

PT Nippon Indosari Corpindo Tbk. (ticker code: ROTI), the first and largest mass-produced bread company in Indonesia with its brands “Sari Roti”, “Sari Kue” and “Sari Choco” currently operates 14 plants strategically located across Indonesia. The Company is committed to implement the standards of Food Safety Management System and Quality Management System. Establishing a network of modern and traditional channels to distribute a variety of halal, high quality and affordable products to all Indonesian Families. Visit www.sariroti.com for more details about the Company.