PT Medco Daya Abadi Lestari (“Medco Daya”), a shareholder of PT Medco Energi Internasional Tbk (“MedcoEnergi” or “the Company”) has advised the Company that effective since 28 March 2018, it has consolidated the Panigoro family shareholding in MedcoEnergi under its own name and now Medco Daya holds over 50% equity interest in MedcoEnergi.

The consolidation was effected through a crossing of 7,523.96 million shares of MedcoEnergi collectively from Encore Energy Pte. Ltd. and Clio Capital Ventures Ltd. to Medco Daya. The shares have been crossed on the Indonesia Stock Exchange through a negotiated market settlement with an average price of IDR 1,357 per share and the current crossing of shares has not resulted in any change in control over MedcoEnergi.

Medco Daya is wholly owned by members of The Panigoro Family controlled by Bapak Arifin Panigoro.