JAKARTA – PT Lippo Karawaci Tbk (“LPKR” or “the Company”) today announced that it has participated in the voluntary tender offer of PT Siloam International Hospitals Tbk (“SILO”) shares, and as a result have sold 18.57% of its ownership in SILO, reducing its ownership to 29.09%. This strategic transaction will allow the Company to reduce leverage, strengthen its focus on its core real estate business, while continuing to maintain a strategic interest in Indonesia’s leading healthcare provider.

Since the establishment of its first hospital in Lippo Village in 1992, LPKR has built SILO into a premier healthcare network with 41 hospitals and over 70 clinics across Indonesia. The decision to reduce its stake comes as part of LPKR’s broader strategy to concentrate on its fully integrated estate operations, which include land banking, township development, housing, industrial land, hospitality, lifestyle malls, and cemetery parks.

The Company received Rp 6.9 trillion in cash proceeds from this transaction, net of taxes, of which approximately Rp 3.9 trillion will be used towards paying down debt, which may include the Company’s USD bonds and other loans, and the balance for further investments, completion of projects, working capital and other corporate purposes.

Following this initiative, LPKR’s net debt is projected to decrease to Rp 4.3 trillion.

Commenting on the transaction, Marlo Budiman, President Director of LPKR, stated, “This transaction marks a step forward in the Company’s strategic realignment towards our core real estate business. While we reduce our stake in Siloam, we remain committed to supporting its continued growth and success as a strategic shareholder.”

The Company remains cautiously optimistic about the Company’s business, confident that this move will enhance its financial flexibility and strengthen its position in the market.

About Lippo Karawaci (“LPKR”) (www.lippokarawaci.co.id)

Listed on the Indonesia Stock Exchange, PT Lippo Karawaci Tbk is Indonesia’s largest real estate company by total assets and revenue. With a diversified business portfolio, Lippo Karawaci is involved in urban development, healthcare, hospitality, and property management. The Company is committed to delivering sustainable value to its shareholders and customers through innovation and excellence in all its operations.

As a leading real estate developer and township operator with 1,386 ha of landbank ready for development, LPKR develops and manages urban development primarily in Java and Sulawesi, including at our flagship township Lippo Village in Tangerang. Through LPKR’s two publicly listed subsidiaries, PT Lippo Cikarang Tbk and PT Gowa Makassar Tourism Development Tbk, of which we own 83.99% and 62.69% respectively, we also develop and manage the townships of Lippo Cikarang in Bekasi and Tanjung Bunga in Makassar.

In addition, LPKR owns 29.09% of PT Siloam International Hospitals Tbk, Indonesia’s leading private hospital network, with 41 hospitals and 72 clinics in 23 provinces nationwide. Aside from healthcare, we manage 59 malls across Indonesia, and hold a 47.29% stake in Lippo Malls Indonesia Retail Trust, a Singapore-listed REIT with SGD 1.5 billion of assets under management as of 31 December 2023. We also operate 10 hotels under the Aryaduta brand, and a country club and golf course.

For more information, please contact:

Investor Relations:
Dr. Randi Bayu Prathama

Head of Investor Relations

Randi.Prathama@lippokarawaci.co.id

Mobile: +62811225873

Corporate Communications:
Nuke Prabandari
Head of Corporate Communications

Nuke.Prabandari@lippokarawaci.co.id

Office: +622125569000

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This press release has been prepared by PT Lippo Karawaci Tbk (“LPKR”) and is circulated for the purpose of general information only. All opinions and estimations included in this release constitute our judgment as of this date and are subject to change without prior notice. LPKR disclaims any responsibility or liability whatsoever arising which may be brought against or suffered by any person as a result of reliance upon the whole or any part of the contents of this press release and neither LPKR nor any of its affiliated companies and their respective employees and agents accepts liability for any errors, omissions, negligent or otherwise, in this press release and any inaccuracy herein or omission here from which might otherwise arise.

Forward-Looking Statements

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