Management's Response Regarding GoTo Executive Earning Billions from Bulk Stock Option Purchase

Jakarta – Management of PT GoTo Gojek Tokopedia Tbk (GOTO) has responded to reports that Catherine Hindra Sutjahyo, the company’s Vice President Director, earned billions of rupiah from purchasing shares. In a disclosure to the Indonesia Stock Exchange, the company’s management explained that the purchase of 515,896,598 shares by Catherine Hindra Sutjahyo stemmed from the implementation of the employee and consultant stock option programme (ESOP) managed by the GoTo Peopleverse Fund (GPF). This purchase took place on 16 March 2026. According to the management of this ride-hailing operator, Catherine’s sale of millions of GOTO shares underwent a consultation process. This purchase action required Catherine to spend Rp 1,031,793,196 for the transaction. “She exercised the stock options as part of the employee and consultant option programme (ESOP Programme) administered by GPF and sold the shares obtained from exercising those stock options,” stated GOTO management, as quoted on Wednesday, 29 April 2026. This ESOP programme is provided to employees, consultants, and even directors and commissioners, including Catherine Hindra Sutjahyo. On the same day, she also sold 265,896,597 shares at Rp 52 per unit. From this sale, one of GOTO’s top executives pocketed around Rp 26.82 billion. The purpose of the share sale transaction was for personal interests. “The purpose of the share sale transaction is for personal and family needs,” the statement continued. Regarding the stock option exercise price that had drawn attention, the company stated that the value was set in accordance with the provisions in the prospectus. “In the Prospectus, the stock option exercise price ranges from Rp 2 to Rp 202 per share, depending on each stock option agreement between GPF and the Participant. The granting of these stock options, including the exercise price, has been approved by the decision of the Nomination and Remuneration Committee and the Board of Commissioners in accordance with applicable laws and regulations,” explained GOTO management. Based on the agreement between GPF and Catherine, the stock options executed on 16 March 2026 had an exercise price of Rp 2 per share. Meanwhile, the share sale price followed the market price on 16–17 March 2026, in the range of Rp 52 per unit.