Investors

The Board of Directors of Axiata wishes to announce that the Company and its 66.48% subsidiary, PT XL Axiata Tbk (“XL”) (XL together with Axiata collectively referred to as the “Purchasers”) had on 30 July 2021 entered into a non-binding term sheet with Asia Link Dewa Pte. Ltd. and PT First Media Tbk (collectively, referred to as the “Sellers”) (“Non-Binding Term Sheet”) to facilitate discussions and negotiations for a potential acquisition of 1,816,735,484 shares representing approximately 66.03% of the entire issued and paid-up capital of PT Link Net Tbk (“Link Net”) owned by the Sellers (“Proposed Transaction”).

Link Net is engaged in telecommunication activities by cable, internet service provider, communication system services, network access point services, other multimedia services, telephony value added services, trading, management consultancy activities and call centre activities. The group currently provides services through a broadband communication network including distribution of television programs and high-speed internet through the Network in Jakarta, Bogor, Tangerang, Bekasi, Surabaya (include Malang and Gresik), Bali, Bandung, Medan, Batam, Solo, Semarang, Serang and Cilegon areas. Link Net is domiciled in Jakarta and started its commercial operations in 2000. All of Link Net’s shares have been listed on the Indonesian Stock Exchange on 2 June 2014.

(Source: Annual Report 2020 of Link Net)

Pursuant to the Non-Binding Term Sheet, the Purchasers and Sellers shall use their best endeavours to negotiate in good faith and execute a definitive agreement, subject to the fulfilment of conditions to signing. If the definitive agreement is signed and subject to the fulfilment of the condition precedent under the definitive agreement, this will result in a change of control in Link Net and following which, Axiata and/or XL will be required to conduct a Mandatory Tender Offer to purchase the remaining shares in Link Net pursuant to Regulation No. 9/POJK.04/2018 on Acquisition of Public Companies issued by the Indonesian Financial Services Authority (Otoritas Jasa Keuangan).

None of the Directors and major shareholders of Axiata and/or persons connected with them have any interest, direct or indirect, in the Proposed Transaction.

The Company will make further announcements if there is any material development to the Proposed Transaction.

This Announcement is dated 30 July 2021.