This is the Decision of the General Meeting of Mandiri Asset Backed Securities Holders GIAA01

PT Mandiri Manajemen Investasi (Mandiri Investasi) has held the Mandiri Asset Backed Securities Holders General Meeting (RUPEBA) GIAA01 on Monday (13/6/2022). The RUPEBA held a quorum, attended by 93.41% of the total holders of Mandiri Asset Backed Securities GIAA01 – Securities with Rights to Ticket Sales (KIK EBA GIAA01).

The implementation of the RUPEBA is carried out as a form of Mandiri Investasi's commitment as the investment manager of KIK EBA GIAA01, in protecting the interests of EBA holders to obtain their rights in accordance with applicable regulations. "Considering that KIK EBA GIAA01 is not a creditor of PT Garuda Indonesia Tbk (GIAA) and Garuda Indonesia from the beginning has made a transfer of revenue from ticket sales for routes to Jeddah and Medina," explained Mandiri Investasi in a written statement, Tuesday (14/6/2022) .

The RUPEBA agenda discussed the proposal for settlement of the obligation to pay off the principal investment and yield of KIK EBA GIAA01 of Rp 1.23 trillion submitted by Garuda Indonesia. In its proposal, Garuda Indonesia proposes the following:

- The schedule for payment of gradual repayment of the principal investment and yield of KIK EBA GIAA01 is carried out for 10 years, starting after the RUPEBA decision becomes effective.

- The first payment of principal investment and yield of KIK EBA GIAA01 will be made in 2024.

Based on the proposal, as many as 92.5% of RUPEBA participants agreed on the following decisions:

Give approval to the investment manager to be able to agree on the terms and conditions related to the adjustment of the schedule for the submission of ticket sales revenue with Garuda Indonesia as referred to in the Garuda Letter dated June 10, 2022; and authorize investment managers and custodian banks to:

- Take the necessary actions in order to adjust the terms and conditions related to the adjustment of the schedule for the submission of ticket sales revenue with Garuda Indonesia, including stating the results of the adjustment agreement in the relevant documents.

- Make adjustments to the KIK EBA and Mandiri GIAA01 EBA Prospectus as necessary in connection with the adjustment of the schedule for the submission of ticket sales revenue with Garuda Indonesia.

The RUPEBA decision has taken into account Garuda Indonesia's ability to carry out its obligations. As is well known, Garuda Indonesia is currently in the process of settling the Postponed Debt Payment Obligation (PKPU) to settle its obligations to creditors.

Mandiri Investasi as the investment manager for KIK EBA GIAA01, since Garuda Indonesia requested a postponement of the implementation of its obligations in July 2021, has made optimal efforts to fight for and protect the interests of KIK EBA GIAA01 holders. "Management of Mandiri Investasi has carried out intensive communication and direct negotiations with the management of Garuda Indonesia. Negotiation efforts are also carried out with stakeholders ," said Mandiri Investasi.

For that, Mandiri Investasi would like to thank all parties, especially EBA holders who have agreed on the results of the RUPEBA, so that KIK EBA GIAA01 holders can get certainty for their principal returns and investment returns.