BTN to Hold EGM Today to Restructure Management and Update Articles of Association

Key Agenda Items for Today's EGM

PT Bank Tabungan Negara (Persero) Tbk (BBTN) is set to hold an Extraordinary General Meeting of Shareholders (EGM) today at 2 PM WIB. The meeting, which will be conducted both physically and virtually, has three main agenda items:

1. Changes to the Company's Articles of Association: The amendments are necessary to comply with the newly enacted State-Owned Enterprises Law No. 16/2025. Additionally, changes are required following the spin-off of the company's Sharia Business Unit to PT Bank Syariah Nasional, as approved in the previous EGM on November 18, 2025.

2. Delegation of Authority for Approving 2026 Work Plan and Budget: According to the Company Law and State-Owned Enterprises Law, the Work Plan and Budget (RKAP) must be approved by the GMS. The Ministry of State-Owned Enterprises (BP BUMN), as the holder of Series A Dwiwarna shares, has proposed delegating this authority to enhance decision-making efficiency.

3. Changes to the Company's Management Structure: The proposed changes to the company's leadership structure have been put forward by the BP BUMN through a letter dated December 16, 2025. The EGM will be asked to approve these changes, which include the appointment and dismissal of members of the Board of Directors and/or Board of Commissioners.

Background and Implications

The EGM has been rescheduled from its original time of 10 AM WIB to 2 PM WIB on the same day. The change in timing was announced through a public disclosure to the Indonesia Stock Exchange. The meeting's agenda remains unchanged from what was previously communicated.

These changes reflect BTN's efforts to adapt to new regulatory requirements and optimize its corporate governance structure. The updates to the Articles of Association are particularly significant as they align the company's operations with the latest legal framework governing state-owned enterprises in Indonesia.