Governance Principles

Transparency
Transparency, namely openness in carrying out the decision-making process and openness in disclosing material and relevant information about the Company to stakeholders. To that end, the Company:

disclose information in a timely, adequate, clear, accurate and comparable manner and can be accessed by interested parties (stakeholders) in accordance with their rights;

disclose information including but not limited to vision, mission, business objectives, strategy, financial condition, composition and compensation of the management, shareholders, executive officers, risk management, internal supervision and control system, compliance status, system and implementation of Good Corporate Governance as well as information and material facts that may affect the decision of the stakeholders;

in implementing the principle of openness, still pay attention to the provisions of official secrets and personal rights in accordance with applicable laws and regulations;

make in writing and communicate the Company's policies to stakeholders and parties who are entitled to obtain information about the policy.

Accountability
Accountability, namely the clarity of functions, implementation and accountability of organs so that the management of the Company is carried out effectively, among others:

The Company establishes clear responsibilities of each organ of the Company in line with the vision, mission, business objectives and strategy of the Company and assigns competencies to these organs according to their respective responsibilities.

The Company has performance measures (KPI) of all levels based on agreed measures consistent with the Company's Corporate Values, business objectives and strategies and has a rewards and punishment system.

The Company believes that all organs of the Company have competencies in accordance with their responsibilities and understand their role in the implementation of Good Corporate Governance.

Responsibility
Responsibility, namely conformity in the management of the Company to the prevailing laws and regulations and sound corporate principles, among others:

The Company ensures compliance with applicable regulations.

The Company cares about the environment and carries out social responsibility reasonably.

Independence
Independency, which is a condition in which the Company is managed professionally without conflict of interest and influence/pressure from any party that is not in accordance with the prevailing laws and regulations and sound corporate principles, among others:

The Company avoids unreasonable domination by any stakeholder and is not affected by unilateral interests and is free from conflicts of interest.

The Company makes decisions objectively and free from any pressure by any party.

Fairness
Fairness, which is justice and equality in fulfilling the rights of stakeholders arising based on agreements and applicable laws and regulations, namely:

The Company pays attention to the interests of all stakeholders based on the principles of equality (equal treatment) and fairness.

The Company provides opportunities for all stakeholders to access information in accordance with the principle of openness.