The Company is owned by the privately-held Samator Group (the “Sponsor”) of Indonesia. Mr. Arief Harsono founded the Samator Group, which focuses on industrial gases, in 1975 with the establishment of a small acetylene plant in Surabaya, East Java under PT Samator. The Sponsor took over full ownership of Aneka Gas in 2004, and has significantly expanded the Company which now has 44 gas plants and more than 80 filling stations nationwide, serving far flung areas of Indonesia and employing over 2,500 people.
The Company is currently wholly-owned by Mr. Arief Harsono and his family through the Indonesian companies PT Samator (37.0%) and PT Aneka Mega Energi (57.0%), and individually by Mr. Arief Harsono (4.4%), his brothers Mr. Heyzer Harsono (0.2%) and Mr. Rasid Harsono (0.2%), and his son Mr. Rachmat Harsono (1.2%). Upon completion of Aneka Gas’ IPO, the Sponsor’s ownership in the Company is expected to decrease to approximately 70%.

The total Project cost is estimated at US$64 million, of which 40% is for capital expenditure, 40% for debt repayment, and 20% for additional working capital requirements.

The Project is to be funded by estimated proceeds from the Company’s IPO of US$64 million.
The proposed IFC investment is approximately US$11 million in equity shares of the Company in conjunction with its IPO.

11.04 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	11.04

* These investment figures are indicative

The Company’s industrial gas plants and distribution operations extend across Java, Sumatra, Kalimantan, Sulawesi, Bali and West Nusa Tenggara in Indonesia.

Supporting key economic sectors: IFC''s investment in Aneka Gas will support the growth of the Company''s clients in key sectors including healthcare, agribusiness, consumer goods, manufacturing and infrastructure.

Frontier regions: By supporting the largest industrial gas company in Indonesia, and the only one with a nationwide distribution network, IFC''s investment will also support economic development in the frontier regions that Aneka Gas serves, including the islands of Sumatra, Kalimantan, Sulawesi and West Nusa Tenggara.

Capital markets development: As an investor in the Company''s IPO, IFC will support the Government of Indonesia''s efforts to expand the country''s public equity market.

Job creation: The expansion of Aneka Gas'' production capacity and distribution network will directly create new employment opportunities. Additional indirect jobs will also be generated through the growth of the Company''s associated supply chain.

Adoption of IFC Performance Standards: Aneka Gas will be required to formally reference IFC''s Performance Standards in their EHS policy document and align their activities with the associated requirements. As a result, it is anticapted that other industry players in the broader sector will also raise standards. This will send a signal to the market that this can be achieved on a commercially sustainable basis and thus serve as a catalyst for other firms to make improvements in areas such as labor conditions, safety, efficient use of resources and environmental sustainability.

ADDITIONALITY
Positive signal to the market: IFC''s participation in the Company''s IPO will provide the credibility of an internationally recognized and well-respected investor. It is expected to send a positive signal to the market and support Aneka Gas in attracting other high-quality investors as long-term shareholders in the Company.

Long Term Capital: IFC will provide patient equity financing, to help Aneka Gas'' expansion plans. The equity infusion will also help strengthen the Company''s balance sheet.

Global Knowledge and Industry Relationships: The Company will benefit from IFC''s global chemicals sector experience and network, as it seeks to increase its range of product offerings.

Environmental and Social Performance Standards: Alignment with IFC''s Environmental and Social (E&S) standards will ensure the Company''s associated practices are enhanced to align with recognized and accepted best practices in this sector.

Corporate governance: Engagement with IFC will assist the Company in elevating corporate governance standards to a level above local requirements.

This is a Category B project in accordance with IFC’s Policy on Environmental and Social Sustainability because a limited number of specific environmental and social impacts may result from project activities that can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria. Key issues associated with the project include: i) ongoing review of future projects to ensure alignment with IFC’s environmental and social (“E&S”) requirements including good international industry practices (“GIIP”); ii) ensuring sustained support to environmental, health and safety (“EHS”) / risk management systems taking into account that the company is seeking to increase the number of filling stations and extending the supply of gas to remote areas in the country; and iii) ensuring adequate mitigation measures are installed at potentially high risks facilities such as the hydrogen production and storage facilities. Measures are defined in the project ESAP to address these and include a focus on occupational health and safety (“OHS”) of the employees and potential risks to the nearby communities from the production and transportation activities.

Please refer to the related Environmental and Social Review Summary (ESRS) document for this project.

Please refer to the Environmental and Social Action Plan (ESAP) tab in the related Environmental and Social Review Summary (ESRS) document for this project.