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Press Release

The New WSBP Through Vision and Mission Transformation

Jakarta, October 2022. After 8 years of existence, PT Waskita Beton Precast Tbk (Stock Code: WSBP) is back with the spirit of All New Transformation, which is marked by a transformation in the vision and mission of WSBP. Becoming a trusted partner in the integrated, construction and modular concrete industry in Indonesia is the new vision of WSBP.

FX Poerbayu Ratsunu, President Director of WSBP explained that the vision and mission were determined based on the aspirations of the shareholders and stakeholders, taking into account the developments and challenges of the precast concrete industry in Indonesia.

Poerbayu also stated through this vision statement, Management has confirmed its commitment to make WSBP a competitive company by integrating the concrete business from upstream to downstream, by carrying out operations in the fields of quarry, readymix, and precast so as to increase the company's competitive advantage in the market.

"In addition, WSBP also wants to make construction and modular as the company's main business line which is still closely related to the integrated concrete business line as a catalyst for the Company in achieving sustainability," he added. Where in carrying out its operations, WSBP will increase trust in partners in all business lines to be able to advance and grow together in order to provide added value for the company and these partners.

To achieve this big vision, WSBP has a strong mission, including:
• To be a One Stop Solution in the integrated, construction and modular concrete industry as well as supporting equipment according to customer needs.
• Establish good governance by implementing ethics and compliance with all applicable regulations in every business process of the company.
• Growing industrial-based intelligent employee competencies to improve employee performance and welfare.
• Creating healthy profit, growth and business sustainability which is carried out together with business partners.
• Implementing an integrated management system, appropriate technology to foster innovation, effectiveness & efficiency, as well as excellence in quality, safety, security, health and environment towards a green industry.

Through this mission, WSBP wants to meet customer needs in the integrated concrete, construction, modular and supporting equipment industries with governance that meets applicable regulations. This is of course to give confidence to all stakeholders that WSBP will improve operational management that focuses on efficiency, effectiveness and supports green industry. In the future, carrying out this mission will also make an important contribution to improving the competence and welfare of employees at WSBP.

This change in the company's vision and mission departs from the Management's expectation to make fundamental improvements to the WSBP in order to be able to fulfill the commitment to the implementation of the PKPU homologation agreement and rebuild the trust of all stakeholders, be it banks, vendors, bondholders, and others.

Then in the future the company will focus on improving good governance in every business process, and responding to the company's competitive challenges in the future with the principle of collaboration with partners, both employers and vendors who support the company's operations.

"The changes that we make are also motivated by the development of manufacturing industry innovation, so that the development of innovation and company digitalization is needed," he said.

The successful transformation through this new vision and mission will certainly run well with the support of the right strategy. "The strategy that will be carried out in the transformation focuses on increasing the company's internal operations, creating competitiveness and brand intelligence as well as developing technology and digitalization of the company through 3 pillars and 3 enablers," said Poerbayu.

The three main pillars that are key are operational excellence, business nourishment, and technology & digitalization, as well as 3 governance enabler programs, risk & compliance, talent engine, and increasing the implementation of AKHLAK culture.

The implementation of the All New Transformation WSBP program is expected to show positive results which are reflected in the company's performance. WSBP management targets an average revenue growth of 15% – 17% per year for the next 5 years.