We express our gratitude to the Almighty God for His grace and blessings, hence, PT Wijaya Karya Bangunan Gedung Tbk (WEGE) or the Company is able to encounter various challenges throughout 2024 and maintain good performance. With the right strategy and strong synergy between the Board of Commissioners, Board of Directors, and all stakeholders, the Company is able to grow sustainably and with soundness.

In conformity with the commemoration of our 16th anniversary, the Company has been able to make positive achievements and demonstrate resilience in facing increasingly complex business dynamics. This success is inseparable from the Company’s commitment to implementing good corporate governance and strengthening synergy within the business group.

The Board of Commissioners is aware that 2024 is a period full of challenges, both from internal and external factors. Therefore, we continuously carry out our supervisory function and provide strategic direction to ensure that the Company remains on a sustainable growth path. Taking into account global economic conditions, industry trends, and government policies, the Board of Commissioners continues to support the Company in optimizing performance and creating added value for shareholders and stakeholders.

In carrying out its duties and responsibilities, the Board of Commissioners adheres to the principle of independence and is guided by the Board Manual for the Work Procedures of the Board of Directors and the Board of Commissioners, the Company’s Articles of Association, the Code of Corporate Governance Guidelines, Financial Services Authority regulations, and prevailing laws and regulations.

On this occasion, I, on behalf of the Board of Commissioners, submit a report on the implementation of supervisory duties and providing advice to the Board of Directors for the 2024 Fiscal Year as our accountability to the Shareholders and all Stakeholders. This report includes an assessment of the performance of the Board of Directors, an evaluation of the committees under the Board of Commissioners, views on business prospects, and the implementation of corporate governance.

Throughout 2024, the global economy faces various uncertainties. Geopolitical tensions, fragmentation of world trade patterns, shifts in spatial economic growth patterns that affect interest rates and debt risks, changes in global financial investment flows, and rapid digitalization between countries are the main factors that impact global economic growth. In addition to the global factors, national dynamics, including political issues, presidential elections (Pilpres), and regional head elections (Pilkada), also have an indirect impact on the Company’s business.

Changes in political leadership in various countries also have an impact on the global economy. In 2024, general elections have taken place in more than 60 (sixty) countries, involving around four billion people in the world, and producing new leaders, both in developed and emerging countries. This change in leadership has the potential to bring about changes in policy direction in various sectors. In Indonesia, the general election also resulted in a change in leadership from President Joko Widodo to President-elect, Prabowo Subianto.

With the various challenges that occur, global economic activity tends to weaken with varying performance in each region. In the meantime, the economic performance of developed countries remains to be fairly resilient, although lower than the period before the pandemic. In 2024, the United States economy grew by 2.3% (yoy), while the European region recorded economic growth of 1.1% (yoy), which becomes the fastest growth rate since early 2023. On the other hand, China’s economy shows sign of slowing, while countries in the ASEAN region remain despite facing a decline in global demand.

Amidst various global challenges that are still high, the Indonesian economy was able to grow solidly by 5.03% (yoy) in 2024. Inflation also remains under control within the target range of 2.5% ±1%, with a realization of 2.61% at the end of 2024, reflecting maintained macroeconomic stability.

The democratic celebration, starting from the presidential election (Pilpres) to the regional head elections (Pilkada) in 2024, also has an impact on the Indonesian economy. Changes in economic policy after the general election affect various sectors, including education, health, and infrastructure. For the infrastructure sector, the 2024 general election encourages increased infrastructure development as part of the grand vision of presidential and regional leader candidates, which aims to form a foundation for sustainable economic growth for Indonesia’s future.

Despite of the prospects for the infrastructure sector remain positive, agility is needed in responding to various challenges rapidly and effectively. This sector shall also be able to adapt and adjust strategies to the continuously developing dynamics in order to remain competitive amidst increasingly tight competition.

Board of Directors’ Performance Achievements and Assessment Basis

The Board of Commissioners appreciates the Board of Directors for optimizing strategies and implementing policies that are aligned with the Company’s objectives. The initiatives made by the Board of Directors in formulating strategic steps and implementing them effectively have contributed in achieving positive performance amidst challenging business dynamics.

Financially, the management of the Company by the Board of Directors has been able to survive well despite facing a number of challenges, especially related to the cash flow management. As an entity owned by a BUMN, the Company has a responsibility to ensure operational efficiency, one of which is through controlling the Cost of Goods Sold (COGS) as an indicator in achieving gross profit. The Board of Commissioners periodically performs monitoring so as to the COGS can be managed optimally and remain in line with the targets set in the RKAP.

In addition to the financial aspect, the development of Human Capital (HC) is one of the main challenges for the Company, along with increasingly complex business dynamics. Strengthening HC capabilities is a key factor in increasing competitiveness, which does not only include in improving skills, knowledge, and intellectual insight, but also implementing best practices in the construction industry.

As part of its commitment to sustainable growth, the Board of Commissioners also emphasizes the importance of implementing sustainability aspects in social practices, one of which is through strengthening the principle of diversity. In the construction industry, which has historically been dominated by male workers, the Company seeks to promote the principle of equality by increasing the involvement of female employees in various operational lines, including in leadership positions. The Company believes that inclusivity and equal opportunities for all employees, regardless of gender, will support the strengthening of a more innovative, collaborative, and highly competitive work culture.

In determining the Key Performance Indicator (KPI), the Board of Commissioners considers various aspects of the assessment comprehensively, including efficiency in implementing work plan in accordance with the targets that have been set, percentage of growth and realization of achievements, and customer satisfaction index, both internal and external. In 2024, the Corporate KPI attached to the Board of Directors’ KPI recorded an achievement score of 99.60. This achievement was obtained based on an evaluation of several priority criteria that are the focus of the Board of Commissioners’ assessment of the Board of Directors’ performance, including aspects of Economic and Social Value for Indonesia, Business Model Innovation, Technology Leadership, Investment Increase, and Talent Development.

As part of its commitment to sustainability, the Board of Commissioners also emphasizes the importance of implementing Environmental, Social, and Governance (ESG) aspects, especially in social practices through diversity. In 2024, the Board of Directors continues to encourage the women involvement in the Company’s work environment and leadership. This is reflected in Mrs. Suli Fatimah’s active role as a member of the Board of Commissioners, as well as the increase in the number of female employees reaching 12.00% of the total employees. The Company is committed to continuing to strengthen the principle of gender equality by increasing women role in business and operations. Going forward, the Company will continue to expand diversity initiatives across all business lines to create a more inclusive, innovative, and highly competitive work environment.

The Board of Commissioners also appreciates the Company’s success in implementing business transformation in 2024. This success is reflected in the achievement of positive performance in various aspects, including an increase in net profit reaching Rp67.96 billion, or growing by 46.14% compared to 2023 of Rp46.50 billion. Moreover, the Company demonstrated good liquidity and solvency performance.

The transformation carried out in 2024 is a strategic step for the Company in strengthening competitiveness and improving good corporate governance. This transformation not only has an impact on improving financial performance, but also forms a stronger foundation in facing industry dynamics. As part of a sustainable growth strategy, the Company’s transformation includes adjusting the organizational structure, strengthening AKHLAK culture, accelerating innovation, and changing the Company’s vision and mission to ensure a more adaptive, sustainable growth direction that is oriented towards creating long-term value for all stakeholders.

Supervision of The Implementation of The Company’s Strategy and Providing Advice to The Board of Directors

The Board of Commissioners has a primary role in supervising and providing advice to the Board of Directors regarding the management of the Company, as stipulated in the Company’s Work Guidelines (Board Manual). The supervision carried out comprises the formulation of strategic policies, implementation of business strategies, and evaluation of their implementation. In carrying out this function, the Board of Commissioners actively provides guidance, input, and suggestions that take into account industry dynamics and internal developments of the Company. Supervisory actions are also carried out through intensive coordination and active communication with the Board of Directors, both through reporting mechanisms and discussions in meeting forums that are held periodically.

In order for supervision to run effectively and in accordance with its functions, the Board of Commissioners is supported by the committees below it, namely Audit Committee, Nomination, Remuneration, and GCG Committee, and Integrated Risk and Governance Monitoring Committee, with the support of the Secretary of the Board of Commissioners. The roles and responsibilities of each committee have been regulated in the Board Manual, and the relevant committee charter.

Considering the Company’s positive achievements throughout 2024, the Board of Commissioners assesses that all committees have carried out their duties well and played an optimal role in supporting supervision of the Company’s governance and operations.

Throughout 2024, the Board of Commissioners held 11 (eleven) internal meetings with an average attendance rate of 100%. This meeting frequency has complied with the provisions stipulated in OJK Regulation No.33/POJK.04/2014 concerning the Board of Directors and Board of Commissioners of Issuers or Public Companies, as well as the Company’s Articles of Association which require the Board of Commissioners’ meetings to be held at least once every two months. Each meeting is chaired by the President Commissioner, or by another member of the Board of Commissioners if the President Commissioner is unable to attend.

The implementation of the duties of the Company’s President Commissioner is currently concurrently served by an Independent Commissioner, who is responsible for supervising the Company’s management, providing policy input, and ensuring operational accountability and transparency.

Throughout 2024, the Board of Commissioners held 12 (twelve) meetings with the Board of Directors, with an attendance rate of 100% of the Board of Commissioners members. Decisions made in the coordination meeting between the Board of Commissioners and the Board of Directors are binding on all meeting participants. This joint meeting is an important forum for the Board of Commissioners and the Board of Directors to discuss periodic performance reports, review business conditions and prospects, and evaluate national policies that have the potential to affect the Company’s operations.

The intensity of meetings and active communication between the Board of Commissioners and the Board of Directors plays a crucial role in the strategic decision-making process. The Board of Commissioners, with the experience and competence possessed by each of its members, constantly provides constructive views and input for the development of the Company. Based on the results of supervision throughout 2024, the Board of Commissioners assesses that the implementation of the Company’s strategy has been carried out in accordance with prevailing laws and in line with the interests of all stakeholders.

Mechanism and Frequency of Advice Provision

The Board of Commissioners actively monitors the management of the Company by the Board of Directors through a routine meeting mechanism. Meetings of the Board of Commissioners and the Board of Directors are held regularly to discuss various strategic aspects, including monitoring business performance, organization, risk management, internal control, legal compliance, human resources, technology, and other key aspects that affect the sustainability of the Company’s business.

Throughout 2024, the Board of Commissioners has held 12 (twelve) joint meetings with the Board of Directors. In each meeting, the Board of Commissioners provided direction, advice, and recommendations while remain to prioritizing the principles of Good Corporate Governance (GCG) and considering the current conditions faced by the Company.

In addition to the meeting forums, the Board of Commissioners also provides advice to the Board of Directors through direct discussions and written communication, such as correspondence. This approach is taken to ensure effective communication and encourage synergistic collaboration between the Board of Commissioners and the Board of Directors in implementing the Company’s strategy.

Board of Directors’ View on the Business Prospects and the Basis for its Considerations

The momentum of economic growth at the level of 5.03% has an impact on the prospects of the construction business which is believed to be able to develop better, where the construction services industry in Indonesia continues to show positive developments. This is reflected in the structure of Indonesia’s Gross Domestic Product (GDP), where the construction sector is in the 4th position with the largest contribution in the last three years at 10.09%. This achievement indicates that the sector is an important pillar in the national economy, especially in supporting various development projects that is required to be completed in accordance with the Medium-Term Development Plan and Long-Term Development Plan.

However, with the issuance of Presidential Instruction (Inpres) No. 1 of 2025 concerning Spending Efficiency in the Implementation of the State Budget (APBN) and the 2025 Regional Budget (APBD), there is an adjustment (refocusing) of the infrastructure development budget carried out by the government, it hence will have a significant impact on the growth of the construction industry in the future. With this budget refocusing, there is the potential for a decrease in the allocation of funds for strategic projects, thus slowing down the growth of the construction sector which has been one of the main drivers of national economic growth.

On the other hand, the massive construction projects that will be running throughout 2024 will present new challenges, such as increasingly rapid technological developments, increasing competition, and the availability of increasingly complex construction resources. Furthermore, the aspects of regulatory and institutional governance are factors that are required to be anticipated in ensuring optimal operational continuity. In order to encounter these challenges, the Company continues to strive to create opportunities through various strategies, including strengthening marketing by focusing on the State-Owned Enterprises (BUMN), government, selective private markets, and developing Build-Operate-Transfer (BOT) and Build-Lease-Transfer (BLT) scheme projects in the captive market.

The Company is also committed to continuously innovating through digital transformation, developing new products such as Volumetric Modular, and improving the quality of human resources through numerous Human Capital development programs. In the operational perspective, the main strategy implemented by the Company focuses on increasing profitability, optimal cash flow management, and customer refocusing. For the meantime, in the financial perspective, the Company implements a selective policy in selecting customers by considering adequate funding and ensuring positive cash flow for all Strategic Business Units (SBU), as well as achieving a healthy company rating.

The Board of Commissioners assesses that the strategies set and implementation carried out by the Board of Directors have been carried out systematically and measurably by considering competencies, market opportunities and optimization of existing resources. The Company’s success in maintaining sustainable business growth is inseparable from the strategic steps implemented, including innovation in modular construction technology. This approach is a solution for the Company in increasing project efficiency, both in terms of time and cost, thus providing significant added value in facing increasingly complex industry challenges.

Furthermore, the Board of Commissioners views the Company’s achievements throughout 2024 as the result of a comprehensive business transformation. The strategy formulated is not merely oriented towards financial growth, but also takes into account the sustainability aspects through the application of the Environment, Social, and Governance (ESG) principles. This approach is believed to be able to create long-term value for the Company and its stakeholders. This is proven by the Company’s positive achievements in obtaining new projects throughout 2024, reaching 33 projects with a total value of Rp2.72 trillion. Therefore, the total projects or order book of the Company in 2024 reached Rp9.01 trillion.

Through an evaluation of global and national economic projections, as well as industry dynamics, the Board of Commissioners believes that the strategy formulated in the 2025 Company Work Plan and Budget (RKAP) is in line with the dynamics of the global and national economy by considering a number of risk factors and opportunities. Thus, the Board of Commissioners is optimistic that the Company can achieve the targets that have been set, while remain to prioritizing strong governance and the prudence principle in managing risks.

Going forward, the Board of Commissioners is confident that the Company will continue to maintain its position as a pioneer in modular innovation in the Indonesian construction sector, while strengthening its competitiveness in facing the dynamics of the ever-evolving industry.

Board of Commissioners’ Views on the Implementation of Corporate Governance

The Company runs its business based on the principles of Good Corporate Governance (GCG). Continuous and consistent implementation of GCG is not only aimed at fulfilling regulatory requirements, but has also become part of the quotidian work culture. The Company is committed to continuously developing GCG practices in order to create progressive business growth. As a concrete manifestation of this commitment, the Company has established assessment parameters used to measure the effectiveness of GCG implementation.

The Board of Commissioners is also proud of the Company’s achievements throughout 2024, where the Company has succeeded in improving the quality of GCG implementation as reflected in the results of the ASEAN Corporate Governance Scorecard assessment conducted by the Indonesian Institute for Corporate Directorship (IICD). Based on the assessment conducted by independent assessors, the Company obtained a score of 90.49 with a Very Good or Level 4 predicate, indicating that the Company’s GCG practices have fully adopted international standards.

The Board of Commissioners also continues to carry out its supervisory function by emphasizing the importance of implementing GCG principles in all aspects of the Company’s operations. The Board of Commissioners assesses that the Board of Directors and other Company organs have carried out their duties and responsibilities in accordance with prevailing governance principles. Going forward, the Board of Commissioners is committed to maintaining and improving the implementation of GCG in a sustainable manner.

As part of efforts to strengthen governance, in 2024, the Company changed the company’s vision and mission. The vision and mission have a strategic role in directing the Company’s goals and policies, as well as being a guideline for management and all employees in achieving long-term targets. With the new vision of “Becoming a trusted partner in creating an innovative and sustainable construction ecosystem”, the Company affirms its commitment to providing a positive impact on the construction industry and business sustainability. The changes to the vision and mission, which were ratified on December 30, 2024, are assessed by the Board of Commissioners as a strategic step that is relevant to the dynamics of the construction industry that continues to grow.

In order to strengthen the implementation of GCG, the Company also formed an Integrated Risk and Governance Monitoring Committee under the Board of Commissioners on May 14, 2024, based on the Decree of the Board of Commissioners of PT Wijaya Karya Bangunan Gedung Tbk No. SK.02.01/KOM.0001.WEGE/2024. The establishment of this committee is based on prevailing laws and good governance principles. This committee is expected to provide strategic input related to risk management and governance that is more integrated with the parent entity.

The Board of Commissioners also appreciates the Company’s commitment to implementing the Environmental, Social, and Governance (ESG) principles as part of its business strategy. This endeavour aims to encourage the Company to implement best practices and strengthen the foundation of long-term sustainability.

In an effort to improve and perfect GCG practices, the Company refers to the ASEAN Corporate Governance Scorecard (ACGS) and the General Guidelines for Indonesian Corporate Governance (PUGKI) issued by the National Committee for Governance Policy (KNKG). Based on these two guidelines, the Board of Commissioners assesses that the implementation of GCG in the Company’s environment continues to run effectively and has increased from year to year.

Apropos to these achievements, the Board of Commissioners believes that the governance systems, procedures and mechanisms implemented by the Company have functioned effectively across all lines of the organization. This further strengthens the belief that the Company is on the right track in creating sustainable and responsible business growth.

Board of Commissioners’ View on the Effectiveness of the Internal Control System and Risk Management

The internal control system is a supervisory mechanism that is applied continuously across all lines of the Company. The Board of Commissioners understands that internal control and risk management have a crucial role in ensuring the continuity and effectiveness of the Company’s operations. Therefore, the Board of Commissioners actively plays a role in providing approval for the Internal Control System (SPI) that has been designed and implemented by the Board of Directors.

In carrying out its supervisory function, the Board of Commissioners ensures the effectiveness of the SPI through monitoring carried out by the Audit Committee and the Integrated Risk Monitoring and Governance Committee. These committees play a role in reviewing numerous risks that have the potential to have an impact on the Company, including risk exposure and information technology control and security. The Company has also built an internal control system that functions to secure the company’s assets and interests through the Internal Audit work unit.

The effectiveness of SPI that is implemented allows the achievement of targets that have been set in the Company’s Work Plan and Budget (RKAP) and the Company’s Long-Term Plan (RJPP) efficiently, on time, and in a focused manner. The results of the annual evaluation of the effectiveness of the internal control system show that overall, this system has been running well and is considered adequate. In addition, in order to support market needs and business development, the Company has improved the Internal Control System Guidelines, which were ratified in 2024.

In terms of risk management, the Board of Commissioners plays an active role in overseeing the implementation of risk management carried out by the Board of Directors. Through the Integrated Risk Monitoring and Governance Committee, the Board of Commissioners evaluates the adequacy of the risk management system, ensuring that identification, measurement, monitoring, control, and reporting of risks have been carried out comprehensively and accurately in accordance with periodic studies.

The implementation of effective risk management is expected to be able to create and protect the Company’s value, making it superior and more competitive. By adopting the Three Lines Model concept, which includes operational lines, risk management, and internal audit, the Company seeks to mitigate risks that have the potential to have a significant impact and avoid conflicts of interest in solving problems. The Board of Commissioners assesses that the implementation of the Company’s risk management has met the expectations and interests of stakeholders and supports the achievement of the Company’s vision and mission in a sustainable manner.

View on the Implementation and Management of the Whistleblowing System (WBS)

The Company is committed to improving the quality of the implementation of Good Corporate Governance (GCG) through a policy of reporting violations or Whistleblowing System (WBS). This policy is designed to provide easy access for all stakeholders, including leaders and employees, to report alleged violations in safe and transparent manner. The main objective of the policy is to create a work environment with integrity and encouraging a culture of compliance throughout the Company.

As a concrete manifestation of this commitment, the Company has developed an integrated digital-based WBS channel to handle complaints, including those related to gratification. WBS management is carried out synergistically by the Board of Commissioners, Board of Directors, and the Corporate Governance Compliance Team to ensure that the reporting mechanism runs effectively and credibly.

The Board of Commissioners continues to support the Company’s initiatives to create a work environment free from corruption, collusion, and nepotism. WBS is an important instrument in realizing a transparent, honest, and responsible work culture. In order for its implementation to run optimally, the Company has provided various complaint channels for reporters to report suspected or incidents of fraud.

After the report is received, the person in charge of WBS will conduct an initial verification before forwarding it to the Compliance Team. Furthermore, the Compliance Team will review the report based on the classification of the case, such as violations of the code of conduct, gratification, and alleged bribery in both financial and non-financial aspects. Investigations are carried out independently and professionally to ensure that each report is followed up in accordance with GCG principles.

The Board of Commissioners views that WBS plays a strategic role in strengthening the Company’s governance and increasing employee and stakeholder awareness of anti-fraud measures. Therefore, throughout 2024, the Board of Commissioners will periodically monitor the effectiveness of WBS implementation and provide direction to the Board of Directors so as to the WBS socialization continues to be carried out sustainably.

Overall, the Board of Commissioners assesses that the implementation of WBS in the Company has been running well and effectively in supporting the realization of clean, transparent, and accountable corporate governance.

Board of Commissioners’ Assessment of Committees’ Performance Under the Board of Commissioners

In carrying out its supervisory function over the running of the Company, the Board of Commissioners is assisted by supporting organs including Secretary of the Board of Commissioners, Audit Committee, Nomination, Remuneration, and GCG Committee, and Risk Monitoring and Integrated Governance Committee. The existence of these committees aims to optimize the supervisory function as well as to ensure the effectiveness of the implementation of good governance principles within the Company.

Each committee has a role and responsibility that has been set out in the work guidelines in order to ensure the implementation of duties in a professional, transparent, and accountable manner. Committee members consist of experts in their fields who are in charge in assisting the Board of Commissioners in providing evaluations and recommendations on various aspects of the Company’s operations and governance.

Periodically, the Board of Commissioners evaluates the performance of each committee to ensure the effectiveness of the supervisory function and compliance with prevailing regulations. The structural relationship between the Board of Commissioners and its supporting organs is as follows:

Structure and Relationship of Board Commissioners with its Supporting Organs

The Audit Committee sees service with assisting and being responsible to the Board of Commissioners in carrying out its supervisory function, particularly in ensuring the effectiveness of the internal control system, increasing transparency in financial reporting, and reviewing the scope and appropriateness of external auditor assignments. Throughout 2024, the Audit Committee has held 32 (thirty-two) meetings with the main agenda including evaluating the Company’s financial performance and the effectiveness of the Internal Control System.

Meanwhile, the Nomination, Remuneration and GCG Committee is officiated with assisting and being responsible to the Board of Commissioners in providing recommendations to the Board of Commissioners so as to the supervision and advice regarding the implementation of the nomination, remuneration and GCG implementation mechanisms can be carried out effectively and sustainably. Throughout 2024, the Nomination, Remuneration and GCG Committee has held 13 (thirteen) meetings with the agenda of evaluating the implementation of nomination and remuneration, implementation of GCG principles, and compliance with prevailing regulations and policies.

In order to strengthen the implementation of good corporate governance (GCG) in an integrated manner with the parent entity, the Company established Risk Monitoring and Integrated Governance Committee in 2024 to support the Board of Commissioners in overseeing the implementation of risk management and governance in order to meet the principles of adequacy of procedures and effectiveness of risk management. Throughout 2024, the Integrated Risk and Governance Monitoring Committee has held a joint meeting with all subsidiaries of PT Wijaya Karya (Persero) Tbk (WIKA) as the parent entity on October 17, 2024, with an agenda including direction from the President Commissioner of WIKA as Chair of the Integrated Governance Committee, presentation and discussion of subsidiary performance, and other strategic agendas. In the organizational structure of the Integrated Governance Committee, the President Commissioner of the Company also plays a role as a member together with representatives of other WIKA subsidiaries, to ensure synergy and effective implementation of governance across all entities in the group.

Another supporting organ of the Board of Commissioners is the Secretary of the Board of Commissioners, who is considered to have carried out his duties optimally with good performance in supporting the effectiveness of the supervisory function and the role of the Board of Commissioners. Specifically, the Secretary of the Board of Commissioners plays a role in ensuring the smooth administration of the Company and assisting the Board of Commissioners in supervising the management policies and achievement of the Company’s targets in 2024, thereby contributing to increasing the effectiveness of corporate governance.

Based on the implementation of its duties and responsibilities throughout 2024, the Board of Commissioners assesses that all supporting organs under the Board of Commissioners have carried out their functions well through the opinions and recommendations provided, and have played a role in ensuring the implementation of corporate governance that is aligned with GCG principles.

During 2024, there were alterations in the composition of the Company’s Board of Commissioners. Based on the decision of the Extraordinary General Meeting of Shareholders (EGMS) held on February 29, 2024, Mr. Taufan Gestoro was appointed as Independent Commissioner replacing Mr. Ance, who previously served based on the decision of the EGMS dated January 15, 2021.

Furthermore, the Annual General Meeting of Shareholders (AGMS) for the 2023 Fiscal Year held on May 20, 2024 determined the honorable dismissal of Mr. Sumadi from his position as President Commissioner. He was previously appointed based on the decision of the AGMS dated April 19, 2022 and was subsequently appointed as Director of Risk Management and Legal at PT Wijaya Karya (Persero) Tbk, as stipulated in the AGMS of PT Wijaya Karya (Persero) Tbk for the 2023 Fiscal Year.

As a follow-up, appointed Mr. Joseph Prajogo as Independent Commissioner and Acting President Commissioner based on a Decision Outside the Board of Commissioners Meeting.

The composition and basis for the appointment of members of the Company’s Board of Commissioners can be seen in the following table:

Table of Composition and Basis for Appointment of the Board of Commissioners

The competence, experience and formal educational background of the members of the Board of Commissioners, support and complement each other, they hence may carry out the supervisory and advisory functions to the Board of Directors in terms of managing the company well. The Board of Commissioners is also committed to working hard together in carrying out the Company’s supervisory function so as to be to achieve targets that are in line with the Company’s vision and mission.

On this occasion, the Board of Commissioners would like to express gratitude the Shareholders who have provided sufficiently constructive direction and input for the Company throughout 2024. The Board of Commissioners also expressed our appreciation to the Board of Directors for the cooperation and commitment that has been shown in order to achieve targets and perform positively.

The Board of Commissioners also expressed our appreciation to the entire Board of Directors and all levels of management and employees who have contributed optimally, especially amidst the current challenges of the construction industry. The Board of Commissioners hopes that the journey of 2024 become an important note for all people of PT Wijaya Karya Bangunan Gedung Tbk to be able to synergize and collaborate with the hope that in the coming years, dedication, commitment, and professionalism may continue to be maintained and improved, the Company hence can achieve sustainable growth.

On Behalf of the Board of Commissioners,

Joseph Prajogo

Independent Commissioner and Acting President Commissioner