Non-binding Memorandum of Understanding in Relation to a Proposed Partnership for the Commercialization and Manufacture of Covid-19 Vaccine

The Board of Directors of PT Pyridam FarmaTbk (the “Company”) wishes to announce that the Company has on October 12, 2020 entered into a non-binding memorandum of understanding (“MOU”) with Vaxine Pty Ltd (“Vaxine”) to explore the commercialization and manufacture of Vaxine’s Covid-19 Vaccine candidate Covax-19™ in Indonesia (the “Proposed Partnership”). Covax-19™ is currently undergoing phase 1 trials in Australia.

The MOU is subject to the Company and Vaxine (together, the “Parties”) entering into a definitive Commercial Agreement and a definitive Manufacturing Agreement (the “Definitive Agreements”).

Jakarta, October 14, 2020
PT Pyridam Farma Tbk.
Corporate Secretary