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13 June 2022
Corporate Secretary

PT Matahari Department Store Tbk ("Matahari" or "Company"; stock code: "LPPF") is expanding its business by planning to open a new store in August this year. It will be located at Tang City Mall, Jenderal Sudirman Street No. 1, Cikokol, Tangerang, Banten. This store is the the third store to be opened this year and the 30th store in Greater Jakarta.

The opening is in line with Matahari’s plan to accelerate expansion and a further 7 openings are slated for this year, subject to prevailing conditions.

Matahari shines brighter than ever by opening its new store in Tang City Mall, Tangerang after previously opening two new stores in Taman Anggrek Mall Jakarta and Plaza Ambarrukmo Yogyakarta. There will be many promotions in every opening, with well-known brands, and a variety of best fashion collections that will excite urban customers in their shopping experience.

With the new concept of a fresh and modern shopping atmosphere, Matahari believes its presence in the area presents differentiated shopping choices than before especially for customers in Tangerang. More spacious store arrangements with approximately 5,400m2 and high service standards make the presence of the latest Matahari store able to provide a pleasant shopping experience for its surrounding community. Matahari will use 100% environmentally friendly LED lighting systems, and supports the local community by having majority of local employees in the store.

"We are excited to launch new store in Tang City Mall sooner. The presence of this new Matahari store is part of our striving to get closer to our communities and strengthen market share in Greater Jakarta. We are committed to serve our metropolitan customers with a wide range of high-quality products and exclusive brands that delight them with aspirational yet affordable fashion that looks good & feels good. Moreover, we believe this mall location is aligned with the future of Matahari store ambience and the aspirations of our customers” said Terry O’Connor, CEO of Matahari.

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