Disclosure Policy

PT Lippo Karawaci Tbk

Disclosure Policy

Disclosure of information has been an important element of Good Corporate Governance. The Board of Directors of PT Lippo Karawaci Tbk (“LPKR”) has regulated the Disclosure Policy that applies to shareholders, investors, public, and other stakeholders. The disclosure is to ensure that the disclosed information is legitimate, accurate, correct, and clear.

Information of LPKR in various method such as in writing, verbal, by telephone, internet, press releases to journalists or investors (press conference), teleconference, or any other kinds of method used by government agencies or other persons to give information to the general public are all covered in this Disclosure Policy.

The standard of Disclosure

a) Disclosure of material information that has not yet been released by the Company to the public must be informed correctly, accurately, carefully, and completely. The disclosure is so that investors and shareholders receive complete information easily, adequately, and conveniently. The information should be provided in LPKR’s website and the timing must be prudent as well.

b) Disclosure of information that is ‘Forward-looking’ or anticipated regarding on the direction of the business and the forecast of the Company’s future operations should be made cautiously.

c) Disclosure of material information that has been disclosed to the public (Material Public Information) should be made clearly and accurately to avoid any confusion. Subsequent information regarding Material Public Information should be clear and consistent to avoid any confusion or miscommunication of the previously disclosed information.

d) Disclosure of other material (Non-material) should be made truthfully without any intention to mislead others from the actual financial status, stock prices, or operational performance. Disclosure of information should not lead into assumptions that the stock price will rise or fall.

e) Disclosure of information that might have an impact of the business should be undertaken with such care.

The regulation of Financial Service Authority (OJK) No. 31/POJK.04/2015 dated 16 December 2015: Disclosure of Information or Material Fact of the Company or Public Company, states that every Public Company that has been registered and become effective, must inform Otoritas Jasa Keuangan (“OJK”) and disclose to the public as soon as possible, no later than 2 (two) days after the decision or changes in Information or Material Facts that will affect the share value of the Company or Investor’s decision.

The Material Information

Events, information or material facts, that may reasonably effect the price of securities or investors' decisions may, among other things, consist of:

1) A merger, separation of business, consolidation or establishment of a joint venture;

2) An offer to purchase Securities of another Company;

3) A purchase or sale of shares of companies whose value material;

4) A stock split or merger;

5) A distribution of interim dividend;

6) A removal of the registration and re-registration of shares on the Stock Exchange;

7) An income in the form of dividends which is extraordiniary;

8) An acquitision or loss of significant contract;

9) A new product which adds value to the Company;

10) A sale of additional securities to the public or restricted material amount;

11) Any important litigation against the Company and/or the Company’s Directors or Commissioners;

12) A change in control both directly or indirectly toward the Company or Public Company;

13) A change in members of the Board of Director and/or the Board of Commissioner;

14) A buyback or payment of Debt Securities and/or obligations;

15) A purchase or sale of assets which are important;

16) The Employee disputes which disrupt the operational of the Company;

17) The replacement of the Accountant who audits the Company;

18) The replacement of the Company's Trustee;

19) The replacement of the Share Registrar;

20) The change in the Company's fiscal year;

21) The change of currency use in the Financial Statements;

22) A company or Public Company is under certain supervision of related regulators which may affect the business continuity of Public Company;

23) The restriction on the business activities of the company or Public Company by the relevant regulator;

24) A change or unattainable the financial projections have been published, materially;

25) An event which will add the financial obligations or decrease the revenue of Public Company materially;

26) The debt restructuring.

Authorized Person to Disclose Material Information

LPKR has regulated that the following persons are authorized to respond to inquiries or provide Material Information:

1. The CEO of LPKR;

2. The President Director of LPKR;

3. The Director in charge of Investor Relations; or

4. Persons designated by 1, 2 or 3.

The Timing of Disclosure of Material Information

LPKR is very strict and careful in keeping material information or other related information so that it will not be released before the designated date, especially during the two-week period prior to the disclosure date.

No employee is allowed to disclose any information at any time unless designated by the CEO, and the President Director of LPKR.