The Board of Directors of Ranhill is pleased to announce that Ranhill Capital Sdn Bhd (“Ranhill Capital”), a subsidiary of the Company, had on 23 July 2020 executed a MOU and a Consortium Agreement with MAYNILAD WATER SERVICES, INC., METROPAC WATER INVESTMENTS CORPORATION, PT VARSHA ZAMINDO LESTARI AND PERUSAHAAN PERSEROAN PT PEMBANGUNAN PERUMAHAN TBK to cooperate to conduct feasibility studies and thereafter and participate in bidding process to develop drinking water system from Jatiluhur dam and to distribute drinking water into 5 areas in DKI Jakarta, including Bekasi City, Bekasi districts, Karawang districts, Bogor districts, based on the allocation of raw water of 10,000 litre per second from the Jatiluhur dam (“Project”). The consortium partners and Ranhill Capital may be referred to as the “Parties” or the “Consortium” where applicable.

Ranhill was invited to collaborate with the Parties by taking over the role of MAYNILAD WATER SERVICES, INC., and METROPAC WATER INVESTMENTS CORPORATION. On 29 May 2020, the Ministry of Public Works and Public Housing of the Republic of Indonesia issued a 'letter to proceed' to the Parties, authorising the Parties to exclusively conduct feasibility studies on the Project.

Please refer to the attachement for further details.

This announcement is dated 23 July 2020.