automotive

PT Vale Indonesia Tbk Announces New Board Of Directors After The 2024 RUPST

PT Vale Indonesia Tbk ("PT Vale" or "the Company", IDX Ticker: INCO) held its Annual General Meeting of Shareholders ("AGM") today. The AGM was conducted in a hybrid manner, where the electronic AGM was facilitated through the eASY.KSEI application provided by PT Kustodian Sentral Efek Indonesia (KSEI) and the physical AGM was held at Soehanna Hall, The Energy Building SCBD Lot 11A, Jl. Jendral Sudirman Kav. 52-53, Jakarta 12190.

During the AGM, shareholders approved the Company's Annual Report for the fiscal year ending on December 31, 2023, including the social and environmental responsibility report contained in the 2023 Sustainability Report, as well as the Board of Commissioners' supervisory report. In addition, shareholders have ratified the audited Financial Statements of the Company for the same period.

With this approval, the members of the Board of Directors and Board of Commissioners are fully released from responsibility and accountability for the management and supervision activities they carried out during the fiscal year, as long as these actions are properly recorded in the Company's records and books and do not involve any criminal acts or violations of applicable laws and regulations.

Considering the capital expenditures for ongoing projects and the Company's working capital in the coming years, shareholders, in line with the recommendations of the Board of Directors and Board of Commissioners, have approved that no dividends will be paid to shareholders for the financial year 2023.

During the shareholders' meeting, the appointment of Mr. Yusron Fauzan and KAP Rintis, Jumadi, Rianto & Rekan (a member of PricewaterhouseCoopers) registered with the Financial Services Authority as the Public Accountant and Independent Public Accountant Office of the Company to audit the Company's Consolidated Financial Statements for the fiscal year ending on December 31, 2024, and audit other financial statements as requested by the Company was also approved.

In addition, the shareholders have approved a change in the members of the Board of Commissioners for the closing period of the 2024 Annual General Meeting until the completion of the Divestment Transaction, as follows:

President Commissioner: Emily Olson

Vice President Commissioner: Muhammad Rachmat Kaimuddin

Commissioner: Fabio Ferraz

Commissioner: Olga Kovalik

Commissioner: Kristina Litzinger

Commissioner: Yusuke Niwa

Commissioner: M. Jasman Panjaitan

Independent Commissioner: Rudiantara

Independent Commissioner: Raden Sukhyar

Independent Commissioner: Marita Alisjahbana

The shareholders also approved a change in the members of the Board of Commissioners for the period after the completion of the Divestment Transaction until the 2027 Annual General Meeting, as follows:

President Commissioner: Muhammad Rachmat Kaimuddin

Vice President Commissioner: Emily Olson

Commissioner: Fabio Ferraz

Commissioner: Kristina Litzinger

Commissioner: M. Jasman Panjaitan

Commissioner: Edi Permadi

Commissioner: Yusuke Niwa

Independent Commissioner: Rudiantara

Independent Commissioner: Raden Sukhyar*

Independent Commissioner: Marita Alisjahbana

Raden Sukhyar's term will be effective from the closing of the 2024 Annual General Meeting until 12 months after the closing of the Shareholders' Meeting.