Calculations of Market-Index Pricing for Oil Fuels Updated

The Minister of Energy and Mineral Resources (“ Minister ”) has issued Decree on Market-Index Pricing for Oil Fuels (“ Decree 1980/2018 ”), which serves as an implementation of Article 15 (1) of Regulation of the President onAvailability, Distribution and Retail Sales Pricing for Oil Fuels,as well as Articles 18 (1) and 18 (1a) of Regulation of the President on the Collection and Utilization of Palm Oil Plantation Funds, as amended twice previously, most recently through the issuance of Regulation of the President . [1] Prior to the issuance of Decree 1980/2018, matters pertaining to market-index pricing for oil fuels were regulated under Decree No. 2371 K/12/MEM/2017 (“ Decree 2371/2017 ”), which addressed the same matters, as well as under Decree on Market-Index Pricing for General Oil Fuel and Gas Oil for the Purpose of the Calculation of Discrepancies between Market-Index Pricing for Gas Oil and Market-Index Pricing for Biodiesel (“ Decree 1939/2018 ”).In essence, Decree 1980/2018 sets out guidelines for calculations of market-index prices for oil fuels (Harga Indeks Pasar Bahan Bakar Minyak– “ HIP BBM ”), as elaborated upon in the following table: