Appointment of New Directors, PT Kilang Pertamina Internasional Focuses on Increasing Company Profitability  

Jakarta, March 15, 2022 – Shareholders of PT Kilang Pertamina Internasional (PT KPI)’s shareholders, Subholding of PT Pertamina (Persero), which operates in the refinery and petrochemical sector, officially changed the formation of PT KPI five director positions on Tuesday, March 15, 2022, in Jakarta. The change of directors of PT KPI was motivated by the Circular Decision of the Shareholders of PT KPI’s dated March 15, 2022, concerning the Dismissal, Transfer of Duties, and Appointment of Members of the Board of Directors and confirmed through the Handover of Position procession at PT KPI's Head Office in Jakarta. The five positions of directors that got changed included the President Director, Director of Infrastructure Projects, Director of Business Planning & Development, Director of Operations, and Director of Human Resources & Business Support.

Corporate Secretary of PT KPI, Ifki Sukarya, explained that Taufik Adityawarman, who previously served as Director of Development & Production of PT Pertamina Hulu Energi, was officially appointed as President Director of PT KPI to replace Djoko Priyono. Djoko Priyono had served as the President Director of PT KPI starting from February 2021 based on the Circular Shareholders' Decision of PT Kilang Pertamina Internasional.

Ifki Sukarya emphasized that the change in the position of directors, which is part of the dynamics of the organization, is carried out following the corporate governance and is oriented towards achieving performance. The change of directors refers to the Circular Decision of the Shareholders of PT KPI dated March 15, 2022, concerning Dismissal, Transfer of Duties and Appointment of Members of the Board of Directors in which one of the authorities of the shareholders is to determine the composition of the new directors of PT KPI through the GMS (General Meeting of Shareholders).

“As we all know, the leadership of Mr. Djoko Priyono and the previous directors of PT KPI have achieved milestones and maintained business profitability amidst the dynamics of the restructuring of the Pertamina Subholding. In fact, in facing the challenge of subholding restructuring, PT PKI's financial performance increased from negative to positive," explained Ifki Sukarya.

He added that the impact of restructuring or the Legal End State in 2021 is a shift in the petrochemical refinery business, which was initially a cost-centered entity, now has the mandate to become a profit-centered entity or a profit maker. Thus, a transformation is needed, both in terms of business processes and mindset, with the spirit of increasing the company's commercial value in addition to carrying out the mandate to maintain the country's energy security.

"In this condition of business transformation, apart from managing reliable financial performance, PT KPI has also succeeded in accelerating the mandated National Strategic Project (PSN)," said Ifki.

"Representing all levels of PT KPI, we express our highest appreciation to all leaders in the KPI environment. Hopefully, the new leaders can continue to maintain and even improve the performance of PT KPI, which is strengthening its business transformation," said Ifki Sukarya.

As for the replacement of the President Director, the composition of the new directors of PT KPI based on the Circular Decision of the Shareholders of PT KPI dated March 15, 2022, concerning the Dismissal, Transfer of Duties, and Appointment of Members of the Board of Directors is as follows:

• Director of the Infrastructure Project of PT KPI is occupied by Kadek Ambara Jaya, replacing Suwahyanto. Kadek Ambara Jaya was previously the President Director of Pertamina Rosneft Processing and Petrochemical
• The Director of Business Planning and Development of PT KPI is occupied by Johan N.B. Nababan replacing Joko Widi Wijayanto. Johan N.B Nababan previously served as Director of Human Resources & Business Support at PT KPI.
• Director of Operations of PT KPI is occupied by Didik Bahagia, replacing Yulian Dekri. Didik Bahagia previously served as VP Production and Facilities at PT KPI.
• Director of Human Resources & Business Support of PT KPI is occupied by Isnanto Nugroho replacing Johan N.B. Nababan. Isnanto Nugroho previously served as VP Joint Terminal Service Operation at PT Pertamina Patra Niaga.

Meanwhile, the two existing positions of the Board of Directors of PT KPI have not changed. Namely, the Director of Finance occupied by Fransetya Hasudungan Hutabarat, and the Director of Feedstock & Product Optimization, occupied by Yoki Firnandi.

PT Kilang Pertamina Internasional (PT KPI) was established as a Subholding of PT Pertamina (Persero) to become a strategic holding company in Pertamina's investment and business ventures related to the refinery and petrochemical mega project business, especially in carrying out cooperation schemes and for project funding strategies.

In addition to managing six existing refineries in Indonesia, PT KPI legally manages two subsidiaries, which are PT Pertamina Rosneft Processing and Petrokimia (PT PRPP) and PT Kilang Pertamina Balikpapan (PT KPB). Following the restructuring of the Legal End State within PT Pertamina (Persero), PT KPI entered a transition period as Subholding Refining & Petrochemical, which is responsible for managing the end-to-end business processes of oil refineries and petrochemicals starting from the procurement of crude oil (feedstock), processing and product management including infrastructure development.**