Graha STH Jl. Mandala Raya No. 20, Jakarta 11440 Tel : 021 – 563 7373 (Hunting) Fax : 021 – 563 6404 Email :
[email protected] [email protected] Izin Usaha KJPP : No. 2.08.0007 Bidang Jasa : Penilaian Properti & Bisnis Wilayah Kerja : Indonesia FAIRNESS OPINION ON THE PROPOSED TRANSACTION TO ACQUIRE PT ALLIANCE INDONESIA PER 31 DESEMBER 2020 Professional Services in Valuation and Financial Consultancy Graha STH Jl. Mandala Raya No. 20, Jakarta 11440 Tel : 021 – 563 7373 (Hunting) Fax : 021 – 563 6404 Email :
[email protected] [email protected] Izin Usaha KJPP : No. 2.08.0007 Bidang Jasa : Penilaian Properti & Bisnis Jakarta, June 8th 2021 Wilayah Kerja : Indonesia Directors, Commissioners and Shareholders PT MANDOM INDONESIA TBK Wisma 46 Kota BNI Suite 7.01, 7th Floor Jl. Jend. Sudirman Kav 1 Jakarta 10220 Dear Sirs, Ref : File No. 00045/2.0007-00/BS/04/0027/1/VI/2021 Fairness Opinion on the Proposed Transaction to acquire PT Alliance Indonesia In compliance with the agreement to our proposal No. STH-040/PR.013/SG/I/2021, we as a registered Public Valuation Firm based on Public Valuation Firm License No. 2.08.0007 and Public Valuer’s License No. PB-1.08.00027 from the Ministry of Finance of the Republic of Indonesia and the Registered Letter of Stock Exchange Supporting Profession No. STTD.PPB-38/PM.223/2019 from the Financial Services Authorities (Otoritas Jasa Keuangan), have conducted a revision on our fairness opinion report on the proposed transaction of PT Mandom Indonesia Tbk. to acquire the shares of PT Alliance Cosmetics with File No.