Jakarta, 15 November 2018 - PT Medco Energi Internasional Tbk ("MedcoEnergi" or the "Company") held an Extraordinary General Meeting of Shareholders today and obtained shareholder approval for a Capital Increase Without Pre-emptive Rights for up to 10% (ten percent) of the Company’s issued and paid-up capital.

The issuance expected to be completed within two years period for a new minimum price of Rp 868 per share, being the average closing price for the previous 25 trading days prior to the announcement. The proceeds from the issue will be used for general corporate purposes.

Hilmi Panigoro, President Director said, “In response to the continuing unstable world commodity and equity markets, the Company considers that it is prudent and conservative to maintain options to manage its capital structure”.