General Announcement::Update to Noteholders

THIS NOTICE CONTAINS IMPORTANT INFORMATION THAT IS OF INTEREST TO THE REGISTERED AND BENEFICIAL OWNERS OF THE SUBJECT SECURITIES. IF APPLICABLE, ALL DEPOSITORIES, CUSTODIANS AND OTHER INTERMEDIARIES RECEIVING THIS NOTICE ARE REQUESTED TO EXPEDITE THE TRANSMITTAL TO BENEFICIAL OWNERS OF THE SECURITIES IN A TIMELY MANNER.

NOTICE TO NOTEHOLDERS

PT Sri Rejeki Isman Tbk

US$150,000,000 6.875% Senior Notes due 2024 issued by Golden Legacy Pte Ltd and

unconditionally and irrevocably guaranteed by PT Sri Rejeki Isman Tbk

CUSIP Number: 38109KAC9 / Y2749KAC4

ISIN: US38109KAC99 / USY2749KAC46

Common Code: 157922092 / 157922718

(the "2024 Notes")

US$225,000,000 7.25% Senior Notes due 2025 issued by PT Sri Rejeki Isman Tbk

CUSIP Number: 69408LAB2 / Y714AGAB8

ISIN: US69408LAB27 / USY714AGAB82

Common Code: 206596945 / 206597208

(the "2025 Notes" and collectively with the 2024 Notes, the "Notes")

Dear Holders:

We write in relation to the 2024 Notes and the 2025 Notes. Unless otherwise defined, capitalized terms used in this letter shall have the meaning given to them in our previous notices.

Voting Deadline for PKPU Composition Plan remains 30 November 2021; No extension is being sought

It has come to the attention of the Sritex Group that a purported ad hoc group of the holders of the Notes has suggested that there is a possibility in which the PKPU Proceeding may be further extended as an alternative to voting on the PKPU Composition Plan. These rumors are false.

For the avoidance of doubt, such an extension is not being sought.Only PT Sri Rejeki Isman Tbk and its subsidiaries in the PKPU Proceeding may seek an extension of the PKPU Proceeding.

The PKPU Composition Plan is to be voted on by the holders of the Notes by the Voting Deadline, being 5:00 pm (New York City time) on 30 November 2021.

Therefore, holders of the Notes only have the option to cast their vote in favor or against the PKPU Composition Plan through the Voting Process on or prior to the Voting Deadline.

In the event holders of the Notes vote against the PKPU Composition Plan, it is likely that the PKPU Composition Plan will not be successful and the liquidation of the Sritex Group may be imminent.

Details of the consequences of a liquidation scenario are set out below.

Comparison between returns under the PKPU Composition Plan and liquidation

In order for the PKPU Composition Plan to be effective, it must be (among others) approved by a majority in number representing at least 662/3 in value of each class of creditors casting their votes in the PKPU Proceeding (the "Voting Threshold").

Set out below is: (i) Option A which assumes that the vote for the PKPU Composition Plan is successful and holders of the Notes will receive (among others) new secured noteson a dollar-for-dollar basis (the "Exchange Offer"); and (ii) Option B which outlines the expected return in a liquidation which may be imminent in the event the PKPU Composition Plan is unsuccessful.

If you consider the Exchange Offer contemplated under the PKPU Composition Plan to be your preferred option (i.e. Option A), you are strongly urged to vote. If the Voting Threshold is not met, PT Sri Rejeki Isman Tbk and its subsidiaries in Indonesia may be forced into liquidation (i.e. Option B). Please do not assume that Option A will be approved in the PKPU Proceeding without your vote.

• OPTION A: Return to Noteholders in PKPU Composition Plan
  The PKPU Composition Plan contemplates an exchange offer in which holders of the 2024 Notes and the 2025 Notes will receive (among others) new secured notes on a dollar-for-dollarbasis. For example, a holder of US$10,000 in principal amount of the Notes will receive US$5,000 of the Tranche A Secured Notes and US$5,000 of the Tranche B Convertible Notes (which may be further exchanged for Tranche B Long Term Notes on a dollar-for-dollar basis).

Existing Notes	•	US$150,000,000 6.875% Senior Notes due 2024 issued by Golden Legacy Pte Ltd and
		guaranteed by PT Sri Rejeki Isman Tbk.
	• US$225,000,000 7.25% Senior Notes due 2025 issued by PT Sri Rejeki Isman Tbk.
New Notes	•	US$187,500,000 Tranche A Secured Notesto be issued by PT Sri Rejeki Isman Tbk.
	•	US$187,500,000 Tranche B Convertible Notesto be issued by PT Sri Rejeki Isman
		Tbk. An exchange offer will be made in which holders of the Tranche B Convertible
		Notes may elect to exchangetheir holdings for Tranche B Long Term Notesto be
		issued by PT Sri Rejeki Isman Tbk on a dollar-for-dollar basis.
Tranche A Secured	•	First-rankingsecurityover fixed assets, inventory and receivables with an indicative
Notes		security coverage ratio of approximately 97%.
	• Single balloon payment on the 9th year, with a periodic early redemption on an annual
		basis through a Reverse Dutch Auction.
	•	Step-upinterest rateas set out below. Cash interest payable on a quarterly basis and
		PIK interest payable at the final maturity date.
		% per annum	Year 1		Year 2	Year 3	Year 4 to 9
		Cash interest	0.375		0.875	1.375	2.00
		PIK interest	1.625		1.125	0.625	0.00
		Total interest	2.00		2.00	2.00	2.00
Tranche B	•	Mandatory conversion into ordinary shares of PT Sri Rejeki Isman Tbk on the 5th year
Convertible Notes		based on the fair and reasonable value.
If elected, Tranche B	•	Final maturity date on the 12th year for all amounts unpaid. Yearly amortization of
Long Term Notes		principal pari passu with the Unsecured Term Loan, with an additional periodic early
		redemption on an annual basis through Reverse Dutch Auction from the 10th year
		onwards pari passu with the Unsecured Term Loan from the Excess Cash from the Cash
		Waterfall Mechanism. For the avoidance of doubt, following queries from holders of the
		Notes, repayment of the Tranche B Long Term Notes shall be amortized in the same
		manner as the Unsecured Term Loan.
	• Step up interest rate of 0.10% p.a. (from the 1st to the 9th year) and 2.00% p.a. (thereafter).

• OPTION B: Return to Noteholders in Liquidation
  Holders of the Notes are expected to receive up to approximately 8 cents on the dollarin the event that the PKPU Composition Plan is not approved and PT Sri Rejeki Isman Tbk and its subsidiaries in Indonesia enter into an uncertain, time-consumingand value-destructiveliquidation process in Indonesia. Such liquidation may invariably take some years before any payment (if any) is made to creditors.

2

Summary timetable

Expected Date	Event
Wednesday, 17 November 2021	Commencement of the voting period and announcement
	in relation thereto distributed through the relevant clearing
	systems.
Monday, 29 November 2021	Date on which Notes must be held by Noteholders to vote
	on the PKPU Composition Plan.
5:00 pm, New York City time	Deadlinefor Noteholders to submit their voting
Tuesday, 30 November 2021	instructions in accordance with the procedure set out in
	the consent solicitation memorandum. This is subject to
	any earlier deadlines that may be set by brokers, dealers,
	commercial banks, trust companies or other nominees in
	relation to the Notes.
Thursday, 2 December 2021	Meeting of the creditors in the PKPU Proceeding in
	which the voting instructions of the holders of the 2024
	Notes and the 2025 Notes will be presented to PT Sri
	Rejeki Isman Tbk and its subsidiaries, the Trustee and the
	PKPU Administrators.

Additional information

This notice highlights only certain aspects of particular provisions of the PKPU Composition Plan and is qualified in its entirety by reference to the more detailed information contained in the PKPU Composition Plan. This summary does not purport to be complete and may not contain all information needed by you in deciding on the PKPU Composition Plan. None of the Sritex Group and its advisors make any recommendation as to the PKPU Composition Plan.

The Sritex Group will provide a further update when there are relevant developments and/or other matters contemplated by this announcement.

If you have questions regarding voting procedures, please contact the Information and Tabulation Agent at the contact details set out below.

	Morrow Sodali Ltd
In Hong Kong:	In Stamford:	In London:
Unit 23-016,	470 West Ave.,	103 Wigmore Street
LKF Tower,	Suite 3000, Stamford,	London
33 Wyndham Street, Central	CT 06902	W1U 1QS
Hong Kong	United States	United Kingdom
Telephone: [phone]	Telephone: [phone]	Telephone: [phone]

Email:[e-mail]

Website:https://bonds.morrowsodali.com/sritex

Jakarta

25 November 2021

3