PT. Garuda Indonesia (Persero) Tbk has announced its corporate action plan to repay part of its notes and sukuk through a tender offer scheme to notes and sukuk holders who are Garuda Indonesia's creditors in the Suspension of Debt Payment Obligation (PKPU) process. As announced on 1 December 2023 through the Disclosure of Information in the Singapore Exchange ("SGX") website, the participation period in the tender offer will last until 15 December 2023, and partial repayment is planned to take place on 21 December 2023. In the plan to partially repay the Bonds and Sukuk, Garuda Indonesia has allocated a maximum of $50,000,000 for the principal value. The amount does not include any outstanding interest
payments or payments of outstanding periodic distribution amounts whose value will be determined later. The allocation of funds is sourced from the Company's internal cash, in line with the Company's cash management policy, one of which is prioritized for the settlement of the Company's obligations to creditors. This corporate action is also a representation of the Company's sustainable goodwill in ensuring that the process of settling obligations to creditors can become more agile and prudent. This partial repayment has also taken into account the current market volatility including increased interest rates in the US dollar currency market.