PT Merdeka Gold Resources Tbk (abbreviated “Merdeka Gold”) has finalised the terms of its Hong Kong Depositary Receipt (HDR) debut, confirming a final offer price of HK$26.60 per HDR. Dealings are scheduled to commence on 26 June 2026 under the stock short name “MERDEKAGOLD-DRS”.

Key Offering Terms • Total HDRs offered: 89.67 million (before any over-allotment) • Hong Kong public tranche: 8.97 million HDRs (10 % of total) • International tranche: 80.70 million HDRs (90 % of total) • Over-allotment: 13.45 million HDRs already over-allocated, giving the stabilising manager discretion to cover through market purchases or by exercising the option. • Gross proceeds: HK$2.39 billion; net proceeds to the selling shareholders: HK$2.27 billion, after estimated expenses of HK$116.47 million. The company will not receive any proceeds.

Subscription Results • Hong Kong public offering was 4.42 times subscribed on 22,329 valid applications; no claw-back was triggered. • International offering was 7.67 times subscribed across 98 placees.

Investor Mix and Concentration • Eleven cornerstone investors took 44.78 million HDRs, representing 49.94 % of the total offer. Largest participants include Ping An Asset Management (9.86 % of offer HDRs), Wanguo Gold Group, Glencore, Mercuria, and Trafigura (each 6.57 %). • Post-listing, the top 10 shareholders will control 78.56 % of issued capital, while the top 25 will hold 87.54 %. • The three largest public HDR holders will collectively own less than 50 % of public float, meeting Hong Kong Listing Rule requirements. At least 300 public holders are expected at listing.

Lock-up Commitments • Controlling shareholder PT Merdeka Copper Gold Tbk (63.33 % stake) is subject to a 12-month lock-up (ending 25 June 2027). • Selling shareholders, collectively holding 12.67 % of issued shares, are locked up for 180 days post-listing (until 23 December 2026). • Cornerstone investors are restricted from disposing of subscribed HDRs for six months (until 25 December 2026).

Trading Details • Trading lot size: 100 HDRs. • Stock code: 06228. • HDR certificates become valid at 8:00 a.m. on 26 June 2026, subject to the offering becoming unconditional.

The stabilising period will run for 30 days after the close of the Hong Kong public offer, during which CLSA Limited may undertake market operations to support the HDR price, subject to regulatory limits.