The controlling shareholders of PT Tiga Pilar Sejahtera Food Tbk (“TPSF” or the “Company”) have signed a definitive agreement (subject to certain conditions for closing) with KKR, a leading global investment firm with more than US$78 billion in assets under management, under which the controlling shareholders would sell approximately 9.5 % stake in TPSF to certain funds advised by KKR Asset Management LLC. Terms of the transaction were not disclosed. “With a strong, long-term partner in KKR, we have a shareholder who not only has deep expertise in the food and retail industry but a partner who shares our vision and will be able to help us grow TPSF as a leading company in foods and food-related businesses,” said Joko Mogoginta, CEO of Tiga Pilar Sejahtera (“TPS”) Group. TPSF is controlled by TPS Group which was founded over five decades ago in Central Java. The Company is a major player in the food business in Indonesia; its products include well-known Indonesian brands Taro Snack, Mie Kremezz, Ayam Dua Telor, Superior, Tanam Jagung, Gulas Candy, and Ayam Jago Rice. TPSF also has a joint venture in its subsidiaries engaging in the palm oil plantation business with Bunge Agribusiness, a global player in agriculture commodities. Ridha Wirakusumah, Director, KKR Asia added: “Indonesia’s economic trajectory places it on pace to become a top-10 economy by 2030 and its consumer economy could become the third largest by 2050, trailing only China and India. This is a large and attractive growth market, and we have been looking to back a consumer-related company like TPSF for quite some time. We recognize that this is a great company with ambitions to grow, and we are pleased to partner with a skilled management team to help fuel that growth in an important market.” Upon closing of the transaction, which is expected to occur in August, KKR will be the Company’s second largest shareholder after TPS. KKR will also have the right to nominate a member of the Board of Commissioners, which includes Anton Apriyantono (former Minister of Agriculture), Kang Hongkie Widjaja (founder of PT Asia Inti Selera), Haryadi (Professor of Agriculture University of Gadjah Mada), Bondan Haryo Winarno (Indonesia’s prominent culinary expert) and Hengky Koestanto (former TPSF director).