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Page 1

          
Page 2
    Sanggahan dan
    Lingkup Tanggung Jawab
    Disclaimer


    Laporan Tahunan ini mencantumkan pernyataan mengenai          This annual report contains statements concerning the
    kondisi keuangan, hasil operasional, proyeksi, rencana,       financial condition, operational results, projections, plans,
    strategi dan tujuan Perseroan, yang bukan merupakan           strategies, policies, and objectives of the Company, all of
    pernyataan fakta historis dan perlu dipahami sebagai          which are categorized as forward-looking statements under
    pernyataan mengenai masa depan, sesuai dengan definisi        the definitions contained in the laws and regulations, save
    yang tercantum dalam ketentuan perundang-undangan             for matters of an historical nature. Such forward-looking
    yang berlaku. Pernyataan mengenai masa depan tergantung       statements are subject to a number of risks and uncertainties,
    pada risiko dan ketidakpastian yang dapat menyebabkan         and actual outcomes may differ materially from what is
    keadaan dan hasil aktual Perseroan di masa depan yang         predicted in the statements the forward-looking statements
    tercantum dalam Laporan Tahunan ini berbeda dari yang         contained in this annual report are based on various
    diharapkan atau diindikasikan, karena didasarkan pada         assumptions regarding current and future conditions affecting
    berbagai asumsi tergantung kondisi saat ini dan masa yang     the Company and the business environment in which the
    akan datang yang berpengaruh pada Perseroan dan               Company operates. The Company cannot give any assurance
    lingkungan bisnis dimana Perseroan melakukan kegiatan         that the actions taken to ensure the validity of this document
    usaha. Tidak ada jaminan bahwa hasil yang diantisipasi oleh   will also result in the achievement of the anticipated outcomes.
    Perseroan atau diindikasikan oleh pernyataan-pernyataan
    mengenai masa depan, akan tercapai.




      Laporan Tahunan & Laporan Keberlanjutan 2023
2     2023 Annual Report & Sustainability Report
      PT ESSA Industries Indonesia Tbk.
Page 3
Latar Belakang Tema
Theme Story




 Sustaining
Operational
 Excellence
PT ESSA Industries Indonesia Tbk. ("Perseroan") telah secara   PT ESSA Industries Indonesia Tbk. ("the Company") has
konsisten memberikan keunggulan yang berkelanjutan             consistently delivered sustained excellence in its operations
dalam operasi dan kinerjanya. Dengan fokus pada inovasi,       and performance. With a focus on innovation, quality and
kualitas, dan inisiatif ramah lingkungan, Perseroan menjadi    environmental friendly initiatives, the Company has been
yang terdepan dalam menerapkan praktik berkelanjutan di        at the forefront of sustainable practices within the industry,
industri, khususnya dalam pengembangan dan pemanfaatan         particularly in the development and utilization of blue
Blue Ammonia. Pendekatan inovatif ini tidak hanya              ammonia. This innovative approach not only showcases
menunjukkan komitmen Perseroan terhadap tanggung               the Company's commitment to environmental and social
jawab lingkungan dan sosial, namun juga menempatkan            responsibility but also positions it as a pioneer in the green
Perseroan sebagai pelopor di sektor energi hijau. Fokus        energy sector. The emphasis on environmental, social, and
utama pada faktor lingkungan, sosial, dan tata kelola telah    governance factors has driven the Company's strategic
mendorong pengambilan keputusan strategis Perseroan,           decision-making, ensuring that its operations align with
memastikan bahwa kegiatan operasional Perseroan selaras        global sustainability goals. The Company's efforts in this
dengan tujuan keberlanjutan global. Upaya Perseroan            area have not only enhanced its reputation but have also
tersebut tidak hanya meningkatkan reputasi Perseroan,          resulted in tangible benefits, including increased investor
namun juga menghasilkan manfaat nyata, termasuk                confidence and long-term resilience. Looking ahead, the
peningkatan kepercayaan investor dan ketahanan jangka          Company remains dedicated to upholding its exceptional
panjang. Ke depan, Perseroan tetap berupaya untuk              standards and continuing to set the benchmark for sustainable
menjunjung tinggi standar tertinggi dan menjadi tolak ukur     and ethical business practices in the industry.
bagi praktik bisnis yang berkelanjutan di industri.



                                                                          Laporan Tahunan & Laporan Keberlanjutan 2023
                                                                               2023 Annual Report & Sustainability Report
                                                                                                                                3
                                                                                      PT ESSA Industries Indonesia Tbk.
Page 4
     Sustaining Operational Excellence



     Daftar Isi
     Table of Content

2     Sanggahan dan Lingkup Tanggung Jawab
      Disclaimer

3     Latar Belakang Tema
      Theme Story




                                                   01
4     Daftar Isi
      Table of Content


Ikhtisar Keuangan
Financial Highlight


8     Ikhtisar Keuangan
      Financial Highlights
10    Informasi Saham                                         46   Daftar Keanggotaan Asosiasi Industri
      Shares Highlights                                            Industrial Association Membership [C.5]
11    Aksi Korporasi dan Perubahan yang Bersifat Signifikan   47   Perubahan Komposisi Anggota
      Corporate Action and Significant Changes [C.6]               Dewan Komisaris dan Direksi
11    Sanksi Perdagangan Saham                                     Changes in The Composition of The Board
                                                                   of Commissioners and Board of Directors




                                                02
      Share Trading Sanction
                                                              48   Profil Dewan Komisaris
                                                                   Board of Commissioners’ Profile
Laporan Manajemen                                             53   Profil Direksi
Management Report                                                  Board of Directors’ Profile
                                                              57   Pernyataan Independensi Komisaris Independen
14    Laporan Dewan Komisaris                                      Independent Statement of Independent Commissioners
      Board of Commissioners’ Report
                                                              57   Sumber Daya Manusia
22    Laporan Direksi                                              Human Resources




                                                03
      Board Of Directors’ Report [GRI 2-22] [OJK D.1]
                                                              69   Komposisi Pemegang Saham
                                                                   Shareholders Composition [C.3]
                                                              72   Struktur Pemegang Saham
Profil Perusahaan                                                  Shareholders Structure
Company Profile
                                                              73   Kronologi Pencatatansaham dan Efek Lainnya
                                                                   Chronology of Share and Other Securities Listing
34    Identitas Perseroan
      Corporate Identity                                      74   Peta Operasional
                                                                   Operational Map [C.3]
35    Identitas Baru Essa
      ESSA’S New Identity                                     75   Entitas Anak
                                                                   Subsidiaries
36    Visi, Misi & Nilai Perusahaan
      Vision, Mission and Corporate Values [C.1]              78   Informasi Akuntan
                                                                   Publik dan Kantor Akuntan Publik
37    Logo ESSA                                                    Information of Public Accountant and Public Accounting Firm
      ESSA’S Logo
                                                              79   Lembaga dan Profesi Penunjang Pasar Modal
38    Riwayat Singkat Perseroan                                    Capital Market Supporting Institutions and Professions
      Brief History of the Company
                                                              79   Penghargaan dan Sertifikasi
40    Jejak Langkah Perseroan




                                                                                                             04
                                                                   Awards and Certificates
      Milestones of the Company
42    Kegiatan Usaha Utama
      Main Business Activities [C.4]
                                                              Analisis & Pembahasan Manajemen
44    Produk Perseroan                                        Management Discussion & Analysis
      Products of the Company [C.4]
45    Struktur Organisasi                                     88   Tinjauan Umum
      Organizational Structure                                     General Overview
46    Perubahan Signifikan Tahun 2023                         89   Tinjauan Operasi dan Keuangan
      Significant Changes in 2023 [C.6]                            Operational and Financial Review




      Laporan Tahunan & Laporan Keberlanjutan 2023
4     2023 Annual Report & Sustainability Report
      PT ESSA Industries Indonesia Tbk.
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              KILAS              LAPORAN           PROFIL       ANALISIS DAN                   TATA KELOLA       LAPORAN              LAPORAN
              KINERJA            MANAJEMEN         PERUSAHAAN   PEMBAHASAN MANAJEMEN           PERUSAHAAN        KEBERLANJUTAN        KEUANGAN
              Performance        Management        Company      Management                     Corporate         Sustainability       Financial
              Overview           Report            Profile      Discussion And Analysis        Governance        Report               Report




Tata Kelola Perusahaan
Corporate Governance


102   Landasan Tata Kelola Perusahaan
                                                    05                     165     Pelaksanaan Rekomendasi Peraturan OJK Nomor 21
                                                                                   POJK.04/2015 Tentang Penerapan Pedoman Tata Kelola
                                                                                   Perusahaan Terbuka dan Surat Edaran OJK Nomor
                                                                                   32/SEOJK.04/2015 Tentang Pedoman Tata Kelola
      Corporate Governance Foundation                                              Perusahaan Terbuka
                                                                                   Implementation of Recommendations to OJK Regulation
107   Struktur GCG                                                                 Number 21/POJK.04/2015 Concerning Implementation of
      GCG Structure [GRI 2-9]                                                      Guidelines for Good Corporate Governance and OJK Circular
                                                                                   Letter Number 32/SEOJK.04/2015 Concerning Guidelines for




                                                                                                                                  06
108   Rapat Umum Pemegang Saham                                                    Good Corporate Governance
      General Meeting of Shareholders [GRI 2-11]
119   Paparan Publik Tahunan
      Annual Public Expose                                                  Tanggung Jawab Sosial Perusahaan
                                                                            Corporate Social & Responsibility
120   Dewan Komisaris
      Board of Commissioners
                                                                           176     Tentang Laporan Ini
128   Direksi                                                                      About This Report
      Board of Directors [GRI 2-11]                                                [GRI 2-2, 2-3, 2-4, 2-5, 2-25, 3-1, 3-2, 3-3][OJK G.1, G.3]

136   Nominasi dan Remunerasi                                              178     Ikhtisar Kinerja Tahun 2023
      Dewan Komisaris dan Direksi                                                  Summary of 2023 Highlights
      Nomination and Remuneration of The Baord of                           181    Pendekatan Keberlanjutan Kami
      Commissioners and Board of Directors [GRI 2-10, 2-19, 2-20, 2-21]            Our Sustainability Approach
138   Komite di Bawah Dewan Komisaris                                      190 Fokus Memimpin Upaya Indonesia Untuk
      Committees Under The Board of Commissioners                              Mewujudkan Industrialisasi Kelas Dunia
148   Sekretaris Perusahaan                                                        Focus on Leading Indonesia’s Drive to World Class Industrialization
      Corporate Secretary                                                  194 Planet: Lingkungan & Keberlanjutan
153   Unit Audit Internal                                                          Environment & Sustainability [OJK F.4]
      Internal Audit Unit                                                  207 People: Aspek Ketenagakerjaan &
157   Audit Eksternal                                                          Pengembangan Masyarakat
      External Audit                                                               Employment & Community Development Aspect

158   Manajemen Risiko                                                     223 Product: Meningkatkan Keunggulan Produk
      Risk Management                                                              Increasing Product Excellence

160   Perkara Hukum                                                        227 Surat Pernyataan Anggota Direksi dan Anggota
      Legal Disputes [GRI 2-27]                                                Dewan Komisaris tentang Tanggung Jawab atas
160   Sanksi Administratif                                                     Laporan Tahunan 2023 PT ESSA Industries Indonesia Tbk.
      Administrative Sanctions [GRI 2-27]                                          Statement of Responsibility from Member of the Board of Directors
                                                                                   and the Board of Commissioners for 2023 Annual Report of
161   Kode Etik                                                                    PT ESSA Industries Indonesia Tbk.




                                                                                                                                    07
      Code of Ethics
161   Kebijakan Benturan Kepentingan
      Conflict of Interest Policy [Gri 2-15]
                                                                              Laporan Keuangan
162   Sistem Pelaporan Pelanggaran                                            Financial Report
      Whistleblowing System [GRI 2-16, 2-26]
162   Transaksi Orang Dalam,
      Anti Korupsi, Dan Anti Kecurangan
      Insider Transactions, Anti-Corruption, and Anti-Fraud [GRI 204-3]
163   Kebijakan Pemberian
      Dana Untuk Kegiatan Politik
      Policy on Funding for Political Activities
163   Kebijakan Pengadaan Barang dan Jasa
      Policy of Procurement of Goods and Services
163   Kebijakan Pemberian Kompensasi Jangka Panjang
      Berbasis Kinerja Kepada Manajemen Dan/Atau Karyawan
      Policy of Providing Long-Term Performance-Based
      Compensation to Management and/or Employees
164   Kebijakan Pengungkapan Informasi Kepemilikan Saham
      Anggota Dewan Komisaris Dan Direksi
      Information Disclosure Policy on Share Ownership by Members
      of The Board of Commissioners and Board of Directors
                                                                                          Laporan Tahunan & Laporan Keberlanjutan 2023
                                                                                               2023 Annual Report & Sustainability Report
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                                                                                                      PT ESSA Industries Indonesia Tbk.
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        01
                                               KILAS KINERJA
                                               PERFORMANCE
                                               HIGHLIGHT
                                               8    Ikhtisar Keuangan      11   Aksi Korporasi dan Perubahan
                                                    Financial Highlights        yang Bersifat Signifikan
                                                                                Corporate Action and
                                               10   Informasi Saham             Significant Changes [C.6]
                                                    Shares Highlights
                                                                           11   Sanksi Perdagangan Saham
                                                                                Share Trading Sanction




    Laporan Tahunan & Laporan Keberlanjutan 2023
6   2023 Annual Report & Sustainability Report
    PT ESSA Industries Indonesia Tbk.
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Laporan Tahunan & Laporan Keberlanjutan 2023
     2023 Annual Report & Sustainability Report
                                                  7
            PT ESSA Industries Indonesia Tbk.
Page 8
    Sustaining Operational Excellence



    Ikhtisar Keuangan
    Financial Highlights

    Ikhtisar Posisi Keuangan                                              Financial Position Highlights
                                                                                                                          (dalam Dolar AS / in US$)

             Uraian                         2021                      2022                           2023                       Description
    Jumlah aset                              809.293.023                 831.295.165                  695.442.247 Total assets
    Jumlah liabilitas                         508.511.713               305.931.065                    197.698.606 Total liabilities
    Jumlah ekuitas                            300.781.310               525.364.100                    497.743.641        Total equity


    Ikhtisar Laba Rugi                                                    Profit or Loss Highlights
                                                                                                                          (dalam Dolar AS / in US$)

                          Uraian                       2021             2022            2023                          Description
    Pendapatan                                      303.437.230      731.490.734     344.961.625      Revenue
    Laba kotor                                       110.289.275     341.162.742     103.176.937      Gross profit
    Laba (rugi) tahun berjalan                        14.354.428     220.790.326      46.723.437      Profit (loss) for the year
    Jumlah penghasilan (rugi) komprehensif             19.113.705    229.966.515     48.924.668 Total comprehensive income (loss)
    Laba per saham                                     0,000938       0,008865         0,002033 Earnings per share
    Modal kerja bersih                               60.223.877      150.735.042       54.237.861     Net working capital
    Laba bersih yang dapat diatribusikan              13.969.192     138.841.074       34.614.652     Profit attributable to the owners of
    kepada pemilik entitas induk                                                                      parent company
    Laba (rugi) bersih yang dapat diatribusikan         385.236       81.949.252       12.108.785 Profit (loss) attributable to non-
    kepada kepentingan nonpengendali                                                              controlling interest
    Jumlah penghasilan (rugi) komprehensif            17.079.279     144.305.901     38.905.959 Total comprehensive income (loss)
    yang dapat diatribusikan kepada pemilik                                                     attributable to the owners of parent
    entitas induk                                                                               company
    Jumlah penghasilan (rugi) komprehensif            2.034.426      85.660.614        10.018.709     Total comprehensive income (loss)
    yang dapat diatribusikan kepada                                                                   attributable to non-controlling interest
    kepentingan nonpengendali


    Rasio Keuangan                                                        Financial Ratio
                          Uraian                       2021            2022             2023                          Description
    Rasio laba bersih terhadap ekuitas (%)                    4,77        42,03              9,39     Net income to equity ratio (%)
    Rasio laba bersih terhadap aset (%)                       1,77        26,56              6,72     Net income to assets (%)
    Rasio laba bersih terhadap pendapatan (%)                 4,73           30,18          13,54     Net income to revenues ratio (%)
    Laba komprehensif terhadap ekuitas (%)                   6,35          43,77             9,83     Comprehensive income to equity (%)
    Laba komprehensif terhadap aset (%)                      2,36         27,66              7,04     Comprehensive income to assets (%)
    Laba komprehensif terhadap                               6,30            31,44           14,18    Comprehensive income to revenues (%)
    pendapatan (%)
    Rasio lancar (x)                                          1,62           2,24            1,44     Current ratio (x)
    Rasio liabilitas terhadap ekuitas (%)                     1,69           0,58            0,40     Liabilities to equity ratio (x)
    Rasio liabilitas terhadap aset (%)                       0,63            0,37            0,28     Liabilities to assets ratio (x)
    Perputaran persediaan (x)                                5,96            13,36           9,73     Inventory turnover (x)
    Hari persediaan (hari)                                  60,36         26,95             37,01     Inventory days (days)
    Perputaran piutang (x)                                  15,27            11,83           9,18     Receivables turnover (x)
    Hari piutang (hari)                                     23,58         30,42            39,23      Receivables day (days)




      Laporan Tahunan & Laporan Keberlanjutan 2023
8     2023 Annual Report & Sustainability Report
      PT ESSA Industries Indonesia Tbk.
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      KILAS             LAPORAN      PROFIL       ANALISIS DAN                   TATA KELOLA      LAPORAN          LAPORAN
      KINERJA           MANAJEMEN    PERUSAHAAN   PEMBAHASAN MANAJEMEN           PERUSAHAAN       KEBERLANJUTAN    KEUANGAN
      Performance       Management   Company      Management                     Corporate        Sustainability   Financial
      Overview          Report       Profile      Discussion And Analysis        Governance       Report           Report




GRAFIK PERTUMBUHAN TAHUNAN                                  ANNUAL GROWTH RATE CHART


             Jumlah Aset (juta US$)                                          Jumlah Liabilitas (juta US$)
            Total Assets (US$ million)                                       Total Liabilities (US$ million)


                                                                                508,5
                           831,3
                809,3
                                                                                          305,9

                                     695,4
                                                                                                          197,7




                2021 2022            2023                                       2021 2022                2023

           Jumlah Ekuitas (juta US$)                                           Pendapatan (juta US$)
            Total Equity (US$ million)                                       Total Revenue (US$ million)

                                                                                              731,5
                           525,4
                                     497,7
                                                                                                          345,0
                300,8                                                           303,4




                2021 2022            2023                                       2021 2022                2023


              Laba Kotor (juta US$)                                         Laba (Rugi) Bersih (juta US$)
             Gross Profit (US$ million)                                     Net Profit (Loss) (US$ million)


                           341,2
                                                                                           220,8


                110,3
                                      103,2
                                                                                                           46,7
                                                                                  14,4



                2021 2022            2023                                       2021 2022                2023



                                                                            Laporan Tahunan & Laporan Keberlanjutan 2023
                                                                                 2023 Annual Report & Sustainability Report
                                                                                                                               9
                                                                                        PT ESSA Industries Indonesia Tbk.
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     Sustaining Operational Excellence



     Informasi Saham
     Shares Highlights

     Grafik Pergerakan Harga Saham ESSA 2023
     ESSA Shares Price Movement Chart in 2023




     Kinerja Saham ESSA
     ESSA Shares Performance

     Tabel Kinerja Saham ESSA tahun 2023
     Table of ESSA Share Performance in 2023
                                 Harga Saham
                                  Share Price                 Jumlah Saham           Volume
         Periode                                                                                      Kapitalisasi Pasar
                                                                 Beredar          Perdagangan
          Period      Terendah    Tertinggi     Penutupan                                            Market Capitalization
                                                            Outstanding Shares   Trading Volume
                        Low         High          Close
     Triwulan 1/ Q1     795         1.070          945          17.226.975.700         42.678.726      16.279.492.036.500
     Triwulan 2/ Q2     488         960            580          17.226.975.700         46.246.692       9.991.645.906.000
     Triwulan 3/ Q3     560          815           795          17.226.975.700          43.707.671      13.695.445.681.500
     Triwulan 4/ Q4     500          770           530          17.226.975.700         22.266.322         9.130.297.121.000

     Tabel Kinerja Saham ESSA tahun 2022
     Table of ESSA Share Performance in 2022
                                 Harga Saham
                                  Share Price                 Jumlah Saham           Volume
        Periode                                                                                       Kapitalisasi Pasar
                                                                 Beredar          Perdagangan
         Period       Terendah    Tertinggi     Penutupan                                            Market Capitalization
                                                            Outstanding Shares   Trading Volume
                        Low         High          Close
     Triwulan 1/ Q1     440         1.215         1.215        15.660.887.000           74.386.411      19.027.977.705.000
     Triwulan 2/ Q2     810         1.515         835          15.660.887.000           92.573.116     13.076.840.645.000
     Triwulan 3/ Q3     720         1.215         995          15.660.887.000           66.117.791     15.582.582.565.000
     Triwulan 4/ Q4     900         1.150          915         15.660.887.000          26.177.522       14.329.711.605.000




      Laporan Tahunan & Laporan Keberlanjutan 2023
10    2023 Annual Report & Sustainability Report
      PT ESSA Industries Indonesia Tbk.
Page 11
           KILAS         LAPORAN       PROFIL       ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
           KINERJA       MANAJEMEN     PERUSAHAAN   PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
           Performance   Management    Company      Management                     Corporate      Sustainability    Financial
           Overview      Report        Profile      Discussion And Analysis        Governance     Report            Report




Aksi Korporasi dan Perubahan
yang Bersifat Signifikan
Corporate Action and Significant Changes [C.6]
Pada tahun 2023, Perseroan membagikan dividen tunai           In 2023, the Company distributed cash dividends for the
untuk tahun buku 2022 sebesar Rp 45 per saham atau total      fiscal year 2022 of Rp45 per share or a total of
sebesar Rp775.213.906.500 (USD51.468.193) atau sekitar        Rp775,213,906,500 (USD51,468,193) or approximately 23.3%
23,3% dari Laba Bersih tahun buku 2022 sesuai dengan          of Net Income for the fiscal year 2022 in accordance with
Keputusan Rapat Umum Pemegang Saham Tahunan (“RUPST”)         the Resolution of the Annual General Meeting of Shareholders
tanggal 15 Maret 2023. Pembayaran dividen tunai telah         ("AGMS") dated 15 March 2023. The cash dividend payment
dilakukan pada tanggal 5 April 2023.                          has been made on 5 April 2023.

Selain aksi korporasi di atas, Perseroan tidak melakukan      Other than the above corporate action, the Company did
aksi korporasi lain yang menyebabkan terjadinya perubahan     not conduct any corporate actions that caused changes in
pada saham, seperti pemecahan saham (stock split),            shares, such as stock splits, reverse stock combinations,
penggabungan saham (reverse stok), saham bonus,               bonus shares, changes in par value of shares, issuance of
perubahan nilai nominal saham, penerbitan efek konversi,      convertible securities, and capital increases and decreases.
serta penambahan dan pengurangan modal.

Pada tahun 2023, Perseroan melakukan perubahan nama           In 2023, the Company changed its name to PT ESSA
menjadi PT ESSA Industries Indonesia Tbk. sesuai dengan       Industries Indonesia Tbk. in accordance with the decision
keputusan Rapat Umum Pemegang Saham Luar Biasa                of the Extraordinary General Meeting of Shareholders dated
tanggal 4 Oktober 2023.                                       4 October 2023.




Sanksi Perdagangan Saham
Share Trading Sanction

Di tahun 2023 Perseroan tidak menerima sanksi berupa          In 2023, the Company did not receive sanctions in the form
penghentian sementara perdagangan atau penghapusan            of temporary suspension of trading or delisting of shares
pencatatan saham dari Bursa Efek Indonesia.                   from the Indonesia Stock Exchange.




                                                                              Laporan Tahunan & Laporan Keberlanjutan 2023
                                                                                   2023 Annual Report & Sustainability Report
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                                                                                          PT ESSA Industries Indonesia Tbk.
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      02
                                                LAPORAN
                                                MANAJEMEN
                                                MANAGEMENT
                                                REPORT
                                                14   Laporan Dewan Komisaris          22   Laporan Direksi
                                                     Board of Commissioners’ Report        Board of Directors’ Report




                                                                                                                        -
                                                                                                                        -




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Laporan Tahunan & Laporan Keberlanjutan 2023
     2023 Annual Report & Sustainability Report
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            PT ESSA Industries Indonesia Tbk.
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     Sustaining Operational Excellence



     Laporan Dewan Komisaris
     Board of Commissioners’ Report




                                                                                Hamid Awaluddin
                                                               Presiden Komisaris dan Komisaris Independen
                                                     President Commissioner and Independent Commissioner




      Laporan Tahunan & Laporan Keberlanjutan 2023
14    2023 Annual Report & Sustainability Report
      PT ESSA Industries Indonesia Tbk.
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           KILAS          LAPORAN       PROFIL       ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
           KINERJA        MANAJEMEN     PERUSAHAAN   PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
           Performance    Management    Company      Management                     Corporate      Sustainability    Financial
           Overview       Report        Profile      Discussion And Analysis        Governance     Report            Report




Para Pemegang Saham dan seluruh Pemangku Kepentingan           Dear all Shareholders and Stakeholders,
yang Terhormat,

Puji syukur kami panjatkan kehadirat Tuhan Yang Maha Esa       We express our gratitude to the presence of God Almighty
atas segala nikmat dan rahmat yang telah dilimpahkan           for all the blessings that have been bestowed upon us, so
kepada kita semua sehingga PT ESSA Industries Indonesia        that PT ESSA Industries Indonesia Tbk. (“Company”) is able
Tbk. (“Perseroan”) dapat mengatasi tantangan dan bertumbuh     to successfully overcome the challenges and grow in 2023.
di Tahun 2023.

Perkenankan Saya, atas nama Dewan Komisaris, ingin             Please allow me, on behalf of the Board of Commissioners,
menyampaikan rasa terima kasih dan penghargaan kepada          to express my gratitude and appreciation to the Board of
Direksi atas kepemimpinan mereka yang efektif dalam            Directors for their effective leadership in implementing
menerapkan strategi sehingga Perseroan memiliki ketahanan      strategies so that the Company has resilience amidst the
di tengah tantangan yang dihadapi dan tetap mempertahankan     challenges faced and continues to maintain positive
kinerja yang positif.                                          performance.

Pengawasan Dewan Komisaris dalam                               Supervision of the Board of Commissioners
Perumusan dan Implementasi Strategi                            in Strategy Formulation and Implementation

Dewan Komisaris senantiasa melaksanakan fungsi                 The Board of Commissioners continues to carry out its
pengawasannya, terutama berkaitan dengan pengawasan            supervisory function, especially concerning the oversight
terhadap penyusunan dan penerapan strategi yang dilakukan      of the formulation and implementation of strategies by the
oleh Direksi. Pengawasan ini dilakukan secara rutin dan        Board of Directors. This supervision is conducted regularly
berkala melalui rapat-rapat antara Dewan Komisaris dan         through meetings between the Board of Commissioners
Direksi, dimana Direksi secara berkala memberikan laporan      and Board of Directors, where the Directors periodically
mengenai rencana dan kemajuan strategi yang tengah             provide reports on the plans and progress of the strategies
dilaksanakan. Interaksi rutin ini memungkinkan Dewan           being implemented. This routine interaction allows the
Komisaris untuk terus memahami dinamika strategis dan          Board of Commissioners to continually understand the
memberikan umpan balik yang konstruktif.                       strategic dynamics and provide constructive feedback.

Selain itu, pengawasan juga dilakukan melalui komite yang      Additionally, supervision is also conducted through
berfungsi sebagai mitra Dewan Komisaris dalam menjalankan      committees that function as partners to the Board of
tugasnya. Komite tersebut membantu dalam mendalami             Commissioners in performing its duties. These committees
aspek-aspek tertentu, seperti Komite Audit yang fokus pada     assist in delving into specific aspects, such as the Audit
aspek keuangan dan audit. Melalui keterlibatan komite ini,     Committee focusing on financial aspects and audits. Through
terbentuklah sistem pengendalian internal yang kokoh,          the involvement of these committees, a robust internal
sehingga pengawasan terhadap strategi dapat dilakukan          control system is established, enhancing the effectiveness
dengan lebih efektif.                                          of the oversight of strategies.

Dengan pendekatan ini, Dewan Komisaris memastikan              With this approach, the Board of Commissioners ensures
adanya transparansi, akuntabilitas, dan kendali yang baik      transparency, accountability, and effective control in the
dalam penyusunan dan pelaksanaan strategi oleh Direksi.        formulation and execution of strategies by the Directors.
Komunikasi terbuka antara Direksi, Dewan Komisaris, dan        Open communication among the Directors, Board of
komite-komite mendukung terbentuknya sistem pengawasan         Commissioners, and the committees supports the
yang holistik dan berkelanjutan di Perseroan.                  establishment of a holistic and sustainable supervisory
                                                               system within the Company.

Pemberian Saran kepada Direksi                                 Providing Advice to the Board of Directors

Dari perspektif Dewan Komisaris, kendala utama Perseroan       From the perspective of the Board of Commissioners, the
di Tahun 2023 adalah penurunan harga komoditas, sebagai        main constraint of the Company in 2023 is the decline in
faktor eksternal di luar kendali Perseroan, namun memiliki     commodity prices compared to 2022, an external factor


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     peluang yang signifikan pula dengan tren kenaikan harga           that is beyond the Company's control. However, there are
     komoditas. Sementara dari sisi internal, Dewan Komisaris          significant opportunities due to the upward trend in commodity
     melihat tidak terdapat kendala yang signifikan, bahkan            prices in Q4, 2023. Meanwhile on the internal front, the
     terdapat peluang besar, terutama dengan proyek                    Board of Commissioners considers that there are no
     pengembangan konversi Blue Ammonia yang dijalankan                significant constraints; in fact, there are substantial
     oleh Direksi.                                                     opportunities, especially with the Blue Ammonia conversion
                                                                       development project led by the Board of Directors.

     Dalam menghadapi peluang dan kendala yang telah                   In addressing the identified opportunities and challenges,
     teridentifikasi, Dewan Komisaris memberikan beberapa              the Board of Commissioners has provided several
     saran kepada Direksi agar Perseroan dapat mencapai                recommendations to the Board of Directors to ensure that
     target-target yang telah ditetapkan. Untuk mengoptimalkan         the Company achieves its set targets. To capitalize on the
     peluang dari tren kenaikan harga komoditas, Dewan Komisaris       opportunities arising from the upward trend in commodity
     menyarankan Direksi untuk meningkatkan efisiensi                  prices, the Board of Commissioners suggests that the Board
     operasional serta memperkuat manajemen risiko terkait             of Directors enhance operational efficiency and strengthen
     fluktuasi harga. Sementara itu, terkait penurunan harga           risk management related to price fluctuations. Meanwhile,
     komoditas, Dewan Komisaris menyarankan agar Direksi               in response to the decline in commodity prices, the Board
     fokus pada strategi pengendalian biaya dan inovasi produk.        of Commissioners recommends that the Board of Directors
                                                                       focus on cost control strategies and product innovation.

     Dari sisi internal, khususnya terkait proyek pengembangan         On the internal front, particularly concerning the Blue
     konversi Blue Ammonia, Dewan Komisaris memberikan                 Ammonia conversion project, the Board of Commissioners
     saran agar Direksi terus memantau dan mengevaluasi proyek         advises the Board of Directors to closely monitor and
     dengan seksama, memastikan pengalokasian sumber daya              evaluate the project, ensuring adequate resource allocation
     yang cukup , serta menjalin kolaborasi yang efektif dengan        and fostering effective collaboration with relevant
     pihak terkait. Dewan Komisaris juga dapat mendorong               stakeholders. The Board of Commissioners also encourages
     Direksi untuk mengintensifkan program pelatihan dan               the Board of Directors to intensify training and development
     pengembangan sumber daya manusia untuk mendukung                  programs for human resources to support the success of
     keberhasilan proyek tersebut. Keseluruhan, saran dari             the project. Overall, the Board of Commissioners'
     Dewan Komisaris diarahkan untuk memastikan bahwa                  recommendations are directed towards ensuring that the
     strategi yang diambil oleh Direksi sesuai dengan kondisi          strategies implemented by the Board of Directors align with
     pasar dan dapat mengoptimalkan peluang serta mengatasi            market conditions and can optimize opportunities while
     kendala yang mungkin muncul.                                      overcoming potential challenges.

     Penilaian terhadap Kinerja Direksi                                Assessment of the Board of Directors’
                                                                       Performance

     Dewan Komisaris menilai kinerja Direksi dan pencapaian            The Board of Commissioners considers that the Board of
     Perseroan secara keseluruhan di Tahun 2023 sangat baik.           Directors' performance and the overall achievements of
     Dasar penilaian ini mencakup beberapa aspek kunci,                the Company in 2023 is excellent. The basis for this
     khususnya dalam menghadapi tekanan, terutama penurunan            assessment encompasses several key aspects, particularly
     harga komoditas. Dewan Komisaris melihat bahwa Direksi            in dealing with pressures, especially the decline in commodity
     telah menunjukkan kinerja yang sangat baik dengan berfokus        prices. The Board of Commissioners observes that the
     pada continuous improvement di dalam kegiatan operasional,        Board of Directors has demonstrated outstanding performance
     meskipun dihadapkan pada tekanan eksternal yang signifikan.       by focusing on continuous improvement in operational
                                                                       activities, despite facing significant external pressures.

     Meskipun terdapat penurunan kinerja keuangan Perseroan            Despite a decline in the Company's financial performance
     akibat turunnya harga komoditas di Tahun 2023, Dewan              due to the decrease in commodity prices in 2023, the Board
     Komisaris memberikan penilaian positif terhadap pencapaian        of Commissioners has given a positive assessment of the
     operasional. Dalam konteks ini, Direksi berhasil mempertahankan   operational achievements. In this context, the Board of
     performa yang sangat baik melalui upaya menjaga operational       Directors successfully maintained excellent performance


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            KILAS          LAPORAN       PROFIL        ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
            KINERJA        MANAJEMEN     PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
            Performance    Management    Company       Management                     Corporate      Sustainability    Financial
            Overview       Report        Profile       Discussion And Analysis        Governance     Report            Report




excellence. Meski pasar menghadapi tantangan eksternal,          by striving to uphold operational excellence. Despite external
manajemen berhasil melaksanakan langkah-langkah strategis        market challenges, the management effectively implemented
yang efektif untuk mengoptimalkan efisiensi operasional dan      strategic measures to optimize operational efficiency and
memastikan kelangsungan bisnis Perseroan.                        ensure the Company's sustainability.

Dewan Komisaris menyoroti bahwa dalam menghadapi                 The Board of Commissioners emphasizes that, in the face
kondisi ekonomi yang tidak pasti, Direksi mampu mengambil        of uncertain economic conditions, the Board of Directors
tindakan proaktif untuk mengatasi ketidakpastian, memastikan     proactively took actions to address uncertainties, ensure
kelancaran operasional, dan memitigasi dampak penurunan          operational smoothness, and mitigate the impact of declining
harga komoditas.                                                 commodity prices.

Dewan Komisaris mengapresiasi fokus Direksi tidak hanya          The Board of Commissioners appreciates the Board of
pada aspek jangka pendek, tetapi juga pada perencanaan           Directors' focus not only on short-term aspects but also on
jangka panjang yang berkelanjutan untuk Perseroan. Ini           sustainable long-term planning for the Company. This
mencerminkan ketangguhan dan ketahanan Direksi dalam             reflects the resilience and robustness of the Board of
mengelola tantangan eksternal dan memberikan keyakinan           Directors in managing external challenges, providing
kepada Dewan Komisaris bahwa langkah-langkah strategis           confidence to the Board of Commissioners that the strategic
yang diambil memiliki visi jangka panjang yang kuat untuk        measures taken have a strong long-term vision to sustain
menjaga keberlanjutan bisnis Perseroan. Keseluruhan,             the Company's business. Overall, this excellent assessment
penilaian yang sangat baik ini mencerminkan pengakuan            signifies the Board of Commissioners' recognition of the
Dewan Komisaris terhadap ketepatan langkah-langkah dan           precision of the steps taken and the Board of Directors'
fokus Direksi dalam menghadapi dinamika pasar yang               focus in navigating the complexities of the market dynamics.
kompleks.

Pandangan atas Aksi Korporasi                                    Overview of Corporate Actions

Di Tahun 2023, Perseroan telah melakukan beberapa aksi           In 2023, the Company has undertaken several significant
korporasi yang signifikan. Pertama, perubahan nama               corporate actions. Firstly, the Company's changed its name
Perseroan sebagai rangkaian terakhir dari proses perubahan       as the final step in the rebranding process initiated since
Brand Identity Perseroan yang telah dilaksanakan sejak           2020. Secondly, the Company successfully executed a
Tahun 2020. Kedua, Perseroan berhasil melaksanakan               Capital Increase Without Pre-emptive Rights (PMTHMETD)
Penambahan Modal Tanpa Hak Memesan Efek Terlebih                 or Private Placement, the proceeds of which were utilized
Dahulu (PMTHMETD) atau Private Placement, yang hasilnya          to increase ownership to 70% in its subsidiary, PT Panca
digunakan untuk meningkatkan kepemilikan menjadi 70%             Amara Utama. These corporate actions are anticipated to
pada entitas anak Perseroan, yaitu PT Panca Amara Utama.         have a positive impact on increasing added value for all
Aksi korporasi ini diharapkan dapat berimbas positif pada        Shareholders.
peningkatan nilai tambah bagi seluruh Pemegang Saham.

Terakhir, di tahun yang sama, Perseroan juga berhasil            Lastly, in the same year, the Company also successfully
mendistribusikan Dividen dengan jumlah tertinggi sepanjang       distributed dividend of Rp 45 per share which is the highest
sejarah Perseroan, yaitu sebesar Rp45 per saham atau total       dividend amount in its history, totalling USD 51.5 million.
USD51,5 Juta. Pandangan Dewan Komisaris terhadap seluruh         The Board of Commissioners' view on all these corporate
aksi korporasi ini sangat positif. Dewan Komisaris melihat       actions is highly positive. The Board of Commissioners
bahwa semua langkah yang diambil oleh Direksi merupakan          perceives that every step taken by the Board of Directors
strategi yang tepat, karena diharapkan memberikan nilai          is a fitting strategy, expected to provide long-term added
tambah dalam jangka panjang, baik bagi para pemegang             value for both shareholders and all stakeholders of the
saham maupun seluruh pemangku kepentingan Perseroan.             Company. The entirety of these corporate actions reflects
Keseluruhan aksi korporasi tersebut mencerminkan komitmen        the Company's commitment to achieving sustainable growth
Perseroan dalam mencapai pertumbuhan berkelanjutan               and delivering maximum benefits to all stakeholders.
dan memberikan keuntungan maksimal bagi seluruh
pemangku kepentingan.



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     Pandangan atas Prospek Usaha                                    Overview of Business Prospect

     Dewan Komisaris memandang Direksi telah menyusun                The Board of Commissioners considers that the Board of
     prospek usaha dengan baik, mengingat prospek bisnis di          Directors has outlined a well-designed business outlook,
     tahun mendatang cukup baik. Pada kuartal akhir Tahun            considering that the business prospects in the coming year
     2023, harga komoditas berangsur membaik dan diperkirakan        are quite promising. In the final quarter of 2023, commodity
     akan tetap stabil di tahun depan, sehingga dapat akan           prices gradually improved and are expected to remain stable
     peningkatan kinerja Perseroan.                                  next year, which will improve the Company's performance.

     Dalam perspektif jangka panjang, Dewan Komisaris menilai        From a long-term perspective, the Board of Commissioners
     bahwa Direksi telah mengantisipasi dan membaca prospek          assesses that the Board of Directors have anticipated and
     dengan cukup baik. Inisiatif proyek pengembangan konversi       read the prospects quite well. The initiative of the project
     fasilitas pabrik Amoniak agar mampu memproduksi Blue            to convert the ammonia plant facilities to be capable of
     Ammonia merupakan langkah yang sangat tepat. Hal ini            producing Blue Ammonia is a very appropriate step. This
     mencerminkan kesiapan Direksi dalam menghadapi tantangan        reflects the readiness of the Board of Directors to face
     dan peluang jangka panjang yang telah diidentifikasi dalam      long-term challenges and opportunities identified in the
     prospek bisnis. Secara keseluruhan, pandangan Dewan             business prospects. Overall, the Board of Commissioners'
     Komisaris mencerminkan keyakinan bahwa strategi yang            view reflects confidence that the strategies adopted by the
     diambil oleh Direksi akan memberikan dampak positif pada        Directors will have a positive impact on the Company's
     pertumbuhan dan keberlanjutan Perseroan dalam waktu             growth and sustainability in the longer term.
     yang lebih panjang.

     Pandangan atas Penerapan GCG                                    Overview of GCG Implementation

     Dewan Komisaris menilai bahwa penerapan Tata Kelola             The Board of Commissioners assesses that the implementation
     Perusahaan yang Baik (Good Corporate Governance/GCG)            of Good Corporate Governance (GCG) by the Company
     yang dijalankan oleh Perseroan telah cukup baik. Namun,         has been quite effective. However, the Board of Commissioners
     Dewan Komisaris menyadari pentingnya melakukan review           recognizes the importance of continuous review and gradual
     secara berkelanjutan dan mengembangkan GCG secara               development of GCG practices.
     bertahap.

     Untuk peningkatan kualitas GCG di Perseroan ke depan,           For GCG quality improvement in the Company, the Board
     Dewan Komisaris memberikan saran dengan menekankan              of Commissioners provides recommendations by emphasizing
     bahwa pengembangan GCG tidak hanya sebatas memenuhi             that GCG development should not merely comply with
     standar atau pedoman umum yang berlaku. Lebih dari itu,         general standards or guidelines. Beyond that, the Board
     Dewan Komisaris menekankan bahwa penerapan GCG                  of Commissioners stresses that the implementation of GCG
     harus disesuaikan dengan tujuan Perseroan sehingga dapat        should be tailored to the specific goals of the Company to
     mendorong kemajuan dan keberlanjutan Perseroan dalam            drive progress and sustainability. With this approach, the
     jangka panjang. Dengan pendekatan ini, Dewan Komisaris          Board of Commissioners aims to ensure that the GCG
     ingin memastikan bahwa GCG yang diterapkan tidak hanya          practices applied are not only in line with general norms
     sesuai dengan norma-norma umum, tetapi juga efektif dalam       but are also effective in supporting the growth and
     mendukung pertumbuhan dan kelangsungan bisnis Perseroan         sustainability of the Company according to its specific
     sesuai dengan konteks dan tujuannya yang spesifik.              context and objectives.

     Dalam menjalankan tugas dan tanggung jawabnya, Dewan            In carrying out its duties and responsibilities, the Board of
     Komisaris dibantu oleh Komite Audit, sementara fungsi           Commissioners is assisted by the Audit Committee, while
     nominasi dan remunerasi dijalankan langsung oleh Dewan          the nomination and remuneration functions are carried out
     Komisaris. Dewan Komisaris menilai bahwa Komite Audit           directly by the Board of Commissioners. The Board of
     telah melaksanakan tugas dengan baik di Tahun 2023              Commissioners considers that the Audit Committee has
     sesuai dengan pedoman internal fungsi Komite Audit              performed its duties well in 2023 in accordance with the
     Perseroan. Komite Audit melakukan rapat secara rutin            Company's internal guidelines for Audit Committee functions.
     dengan tim Internal Perseroan dan Auditor eksternal. Kegiatan   The Audit Committee meets regularly with the Company's


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            KILAS          LAPORAN        PROFIL        ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
            KINERJA        MANAJEMEN      PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
            Performance    Management     Company       Management                     Corporate      Sustainability    Financial
            Overview       Report         Profile       Discussion And Analysis        Governance     Report            Report




tersebut mampu menciptakan komunikasi yang lancar antara          internal team and external auditors. These activities are
Komite Audit, tim Internal Perseroan, dan Auditor eksternal       able to create smooth communication between the Audit
sehingga dapat meningkatkan efektivitas fungsi pengawasan         Committee, the Company's Internal team and the external
Komite Audit.                                                     Auditor so as to increase the effectiveness of the Audit
                                                                  Committee's supervisory function.

Pandangan atas Strategi Keberlanjutan                             Overview of Sustainability Strategies

Dari sudut pandang Dewan Komisaris, implementasi strategi         From the perspective of the Board of Commissioners, the
keberlanjutan dan program CSR Perseroan telah berperan            implementation of the Company's sustainability strategy and
penting dalam menunjukkan komitmen teguh untuk                    CSR programs has been instrumental in showcasing a
mengutamakan aspek lingkungan dan aspek keberlanjutan             steadfast commitment to prioritizing environmental and
dalam semua kegiatan bisnis. Prestasi Perseroan pada              sustainability aspects across all business activities. The
Tahun 2023, khususnya penghargaan "Proper Biru" dari              Company's achievements in 2023, particularly the "Blue
Kementerian Lingkungan Hidup dan Kehutanan selama                 Proper" award from the Ministry of Environment and Forestry
delapan tahun berturut-turut sejak 2015, menyoroti dedikasi       for eight consecutive years since 2015, highlight the Company's
Perseroan terhadap keunggulan dalam praktik lingkungan.           dedication to excellence in environmental practices.

Selain itu, anak usaha Perseroan, PT Panca Amara Utama,           Additionally, the Company's subsidiary, PT Panca Amara
telah diakui dengan sertifikasi "ISO 14001: 2015 Sistem           Utama, has been recognized with the "ISO 14001: 2015
Manajemen Lingkungan" dan penghargaan "Proper Hijau"              Environmental Management System" certification and the
selama dua tahun berturut-turut, lebih lanjut menggarisbawahi     "Green Proper" award for two consecutive years, further
komitmen terhadap keberlanjutan lingkungan.                       underscoring the commitment to environmental sustainability.

Pendekatan Perseroan yang beragam terhadap tanggung               The Company's multifaceted approach to corporate social
jawab sosial perusahaan, sebagaimana diuraikan dalam              responsibility, as detailed in its CSR programs throughout
program CSR dalam Grup, mencerminkan dedikasinya                  the Group, exemplifies its dedication to holistic development,
terhadap pengembangan holistik, keberlanjutan, dan                sustainability, and community well-being. The Agriculture
kesejahteraan masyarakat. Program Pertanian dan Peternakan        and Livestock Program in regions such as Batui, Kintom,
di wilayah seperti Batui, Kintom, Nambo, dan Batui Selatan,       Nambo, and Batui Selatan, Banggai Regency, Central
Kabupaten Banggai, Sulawesi Tengah, menunjukkan inisiatif         Sulawesi, demonstrates the company's initiative to enhance
perusahaan untuk meningkatkan kondisi ekonomi lokal dan           local economic conditions and address challenges in
mengatasi tantangan dalam sektor pertanian dan peternakan.        agriculture and livestock. The focus on health empowerment,
Fokus pada pemberdayaan kesehatan, pendidikan, dan                education, and infrastructure further solidifies ESSA's
infrastruktur lebih lanjut mengokohkan komitmen ESSA              commitment to creating positive impacts across various
untuk menciptakan dampak positif di berbagai sektor dalam         sectors of the community.
komunitas masyarakat.

Meskipun mengakui adanya ruang untuk peningkatan kinerja          While acknowledging the existing room for enhancement
ESG, Dewan Komisaris menekankan komitmen teguh untuk              in ESG performance, the Board of Commissioners emphasizes
meningkatkan standar keberlanjutan. Pendekatan investasi          a steadfast commitment to elevating sustainability standards.
ESG, menilai perusahaan berdasarkan tanggung jawab                The ESG investing approach, evaluating companies based
sosial, kesadaran lingkungan, dan kriteria GCG yang kuat,         on social responsibility, environmental consciousness, and
sejalan dengan visi Perseroan untuk menciptakan kerangka          robust GCG criteria, aligns with the Company's vision for
kerja berkelanjutan.                                              creating a sustainable framework.

Menyadari perlunya peningkatan dalam pengungkapan                 Recognizing the need for improved disclosure in sustainability
program keberlanjutan, Dewan Komisaris mendorong Direksi          programs, the Board of Commissioner pledges the Board
untuk menyajikan gambaran yang lebih komprehensif dalam           of Directors to provide a more comprehensive overview in
laporan mendatang, memberikan wawasan lebih mendalam              the upcoming report, offering a deeper insight into the
tentang inisiatif keberlanjutan holistik ESSA. Komitmen ini       Company's holistic sustainability initiatives. This commitment
mencerminkan dedikasi Perseroan terhadap transparansi,            reflects the company's dedication to transparency,


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     akuntabilitas, dan peningkatan berkelanjutan dalam praktik   accountability, and continual improvement in sustainable
     keberlanjutan.                                               practices.

     Apresiasi dan Penutup                                        Closing Words of Gratitude

     Atas nama Dewan Komisaris, kami menyampaikan apresiasi       On behalf of the Board of Commissioners, we express our
     yang terdalam kepada para Pemegang Saham dan pemangku        deepest appreciation goes to shareholders and stakeholders
     kepentingan atas kepercayaannya, serta kepada Direksi,       for their trust, as well as to the Board of Directors, employees,
     karyawan, dan mitra bisnis atas dukungan yang sangat         and business partners for their immense support. The Board
     besar. Dewan Komisaris meyakini bahwa berkat dukungan        of Commissioners believes that thanks to the support from
     dari seluruh pihak, maka Perseroan dapat terus memberikan    all parties, the Company can continue to provide added
     nilai tambah dan mewujudkan pertumbuhan yang                 value and achieve sustainable growth.
     berkelanjutan.




                                                Atas nama Dewan Komisaris,
                                           On behalf of the Board of Commissioners,




                                                     Hamid Awaluddin
                                        Presiden Komisaris dan Komisaris Independen
                                    President Commissioner and Independent Commissioner




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KILAS         LAPORAN      PROFIL       ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
KINERJA       MANAJEMEN    PERUSAHAAN   PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
Performance   Management   Company      Management                     Corporate      Sustainability    Financial
Overview      Report       Profile      Discussion And Analysis        Governance     Report            Report




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     Sustaining Operational Excellence



     Laporan Direksi
     Board Of Directors’ Report [GRI 2-22][OJK D.1]




                                                       Kanishk Laroya
                                                      Presiden Direktur & CEO
                                                      President Director & CEO




      Laporan Tahunan & Laporan Keberlanjutan 2023
22    2023 Annual Report & Sustainability Report
      PT ESSA Industries Indonesia Tbk.
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           KILAS          LAPORAN       PROFIL        ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
           KINERJA        MANAJEMEN     PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
           Performance    Management    Company       Management                     Corporate      Sustainability    Financial
           Overview       Report        Profile       Discussion And Analysis        Governance     Report            Report




Para Pemegang Saham dan seluruh Pemangku Kepentingan            Dear all Shareholders and Stakeholders,
yang Terhormat,

Atas nama Direksi, izinkan saya menyampaikan Laporan            I am honored to present the Annual Report of PT ESSA
Tahunan PT ESSA Industries Indonesia Tbk. (“Perseroan”)         Industries Indonesia Tbk. (“the Company") for the year 2023
untuk Tahun 2023.                                               on behalf of the Board of Directors.

Puji syukur Perseroan panjatkan kepada Tuhan Yang Maha          First and foremost, we extend our heartfelt gratitude to the
Esa karena atas rahmat dan karunia-Nya Perseroan mampu          Almighty for His grace, enabling the Company to navigate
mempertahankan kinerja yang kuat dan melalui Tahun 2023         the challenges of 2023 and maintain a robust performance.
yang penuh tantangan.

Pada Tahun 2023, sejalan dengan mobilitas masyarakat            In the midst of increased mobility post-pandemic, the national
yang meningkat pasca pandemi, perekonomian nasional             economy demonstrated resilience, recording a commendable
tercatat tetap tumbuh kuat sebesar 4,9% (yoy) pada kuartal      growth of 4.9% (YoY) in the third quarter of 2023. While the
III Tahun 2023, meskipun melambat dibandingkan dengan           pace may have slowed compared to the previous year,
kuartal yang sama di tahun sebelumnya. Resiliensi tersebut      Indonesia's economic performance stands out amidst global
menunjukan kinerja perekonominan Indonesia yang lebih           challenges such as commodity price fluctuations and
baik dibandingkan dengan banyak negara lain di tengah           geopolitical uncertainties.
tantangan moderasi harga komoditas dan krisis geopolitik
berkepanjangan yang terjadi.

Fokus utama Perseroan di Tahun 2023 dalam menghadapi            Throughout 2023, the Company faced substantial external
tekanan eksternal yang signifikan dalah meningkatkan            pressures, prompting a dedicated focus on operational
operational excellence sehingga continuous improvement          excellence. This strategic emphasis aimed at continuous
dapat dilakukan. Dengan demikian, Perseroan mampu               improvement allowed us to not only weather challenges
mempertahankan kinerjanya dan memastikan keberlanjutannya       but also laid the foundation for long-term sustainability.
dalam jangka panjang.

Kendala yang Dihadapi                                           Challenges Faced

Pada Tahun 2023, Perseroan dihadapkan pada tantangan            In 2023, the Company encountered significant challenges
signifikan baik secara eksternal maupun internal yang           both externally and internally that influenced our performance.
mempengaruhi kinerja Perseroan. Secara eksternal, tantangan     Externally, the primary challenge stemmed from the decline
utama yang dihadapi adalah penurunan harga komoditas.           in commodity prices. However, this challenge also brought
Namun, tantangan ini juga membawa peluang, terutama             opportunities, particularly with the improvement in commodity
dengan perbaikan harga komoditas yang terjadi pada kuartal      prices observed in the fourth quarter of 2023. Looking
keempat Tahun 2023. Melihat ke depan, dengan stabilnya          forward, with the expected stability in commodity prices in
harga komoditas yang diprediksi terjadi pada Tahun 2024,        2024, we anticipate a positive impact on our financial
Perseroan meyakini akan memberikan dampak positif pada          performance.
kinerja keuangan Perseroan.

Secara internal, Perseroan tetap memegang teguh komitmennya     Internally, our steadfast commitment to operational excellence
terhadap operational excellence. Perseroan berfokus pada        remained unwavering. We focused on internal efforts,
upaya internal dengan emphasis pada manajemen risiko,           emphasizing risk management, operational efficiency
peningkatan efisiensi operasional, dan pengembangan             enhancement, and personnel development. These initiatives
sumber daya manusia. Langkah-langkah ini bertujuan untuk        were aimed at ensuring our adaptability and maintaining
memastikan fleksibilitas Perseroan dan menjaga posisi           a leading position in the industry. By addressing challenges
terdepan dalam industri. Dengan menghadapi tantangan            head-on and capitalizing on opportunities, we are working
secara langsung dan memanfaatkan peluang yang hadir,            to establish a robust foundation for sustainable growth and
Perseroan berupaya membangun fondasi yang kuat untuk            long-term viability.
pertumbuhan berkelanjutan dan kelangsungan jangka panjang.


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     Strategi Tahun 2023                                             Strategies in 2023

     Pada Tahun 2023, Perseroan menerapkan strategi kunci            In 2023, we implemented key strategies to boost performance
     untuk meningkatkan kinerja dan keberlanjutan. Pertama,          and sustainability. Firstly, we reinforced our commitment
     Perseroan memperkuat komitmen Perseroan dalam                   to adopting new technologies by initiating the SAP system
     mengadopsi teknologi baru dengan memulai proses                 implementation throughout the entire ESSA Group.
     implementasi sistem SAP di seluruh Grup ESSA. Secara            Simultaneously, we explored growth opportunities, specifically
     bersamaan, Perseroan juga mengeksplorasi peluang                in the LPG sector, with a focus on new refinery development
     pertumbuhan, khususnya di sektor LPG, dengan fokus pada         possibilities. In the Ammonia sector, progress continued on
     potensi pengembangan kilang baru. Di sektor Amoniak,            the Blue Ammonia Project, scheduled for completion by
     progres juga terus berlanjut pada Proyek Blue Ammonia,          2027.
     yang dijadwalkan akan rampung pada Tahun 2027 mendatang.

     Selain itu, Perseroan melaksanakan aksi korporasi yang          Additionally, we undertook significant corporate actions,
     signifikan, yang mencerminkan langkah evolusi Perseroan.        reflecting our dedication to evolution. Notably, the Company
     Perseroan resmi melaksanakan perubahan nama dari PT             officially changed its name from PT Surya Esa Perkasa Tbk.
     Surya Esa Perkasa Tbk. menjadi PT ESSA Industries Indonesia     to PT ESSA Industries Indonesia Tbk. effective from 9
     Tbk. Efektif sejak tanggal 9 Oktober 2023, menandai tahap       October 2023, marking the final stage of our Brand Identity
     akhir dari proses perubahan Brand Identity yang dimulai         change process initiated in 2020.
     sejak Tahun 2020.

     Selain itu, Perseroan berhasil melaksanakan Peningkatan         Furthermore, we successfully executed a Capital Increase
     Modal tanpa Hak Memesan Efek Terlebih Dahulu (PMTHMETD),        without Pre-emptive Rights (PMTHMETD), issuing
     menerbitkan 1.566.088.700 saham baru dengan harga               1,566,088,700 new shares at Rp1,025 per share. The
     Rp1.025 per saham. Dana yang diperoleh digunakan untuk          proceeds were utilized to acquire an additional 10% share
     mengakuisisi tambahan 10% saham dari anak perusahaan            of our subsidiary, PT Panca Amara Utama (PAU), increasing
     Perseroan, PT Panca Amara Utama (PAU), sehingga                 our ownership to 70%.
     meningkatkan kepemilikan Perseroan menjadi 70%.

     Perseroan juga mencapai tonggak sejarah baru dengan             In a noteworthy move, we achieved a milestone by declaring
     melaksanakan distribusi dividen tertinggi Perseroan sepanjang   our highest-ever dividend payment in 2023, amounting to
     masa pada Tahun 2023, dengan total USD 51,5 juta atau           USD51.5 million or Rp45 per share, equivalent to approximately
     Rp45 per saham, setara dengan sekitar 23,3% dari Laba           23.3% of Net Income for the fiscal year 2022.
     Bersih untuk tahun fiskal 2022.

     Berbagai inisiatif strategis dan aksi korporasi ini merupakan   These strategic initiatives and corporate actions are a
     bukti komitmen Perseroan terhadap pertumbuhan, evolusi,         testament to our commitment to growth, evolution, and
     dan memberikan nilai kepada seluruh pemangku kepentingan        delivering value to our stakeholders. As we reflect on these
     Perseroan. Melihat kebelakang pencapaian-pencapaian ini,        achievements, we remain grounded and appreciative,
     Perseroan akan terus bergerak dengan rasa rendah hati           understanding that our journey towards excellence is a
     dan apresiatif kepada seluruh pihak yang terlibat, memahami     collective effort.
     bahwa perjalanan Perseroan menuju excellence adalah
     upaya bersama.




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       PT ESSA Industries Indonesia Tbk.
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            KILAS           LAPORAN        PROFIL        ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
            KINERJA         MANAJEMEN      PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
            Performance     Management     Company       Management                     Corporate      Sustainability    Financial
            Overview        Report         Profile       Discussion And Analysis        Governance     Report            Report




Perumusan dan Penerapan Strategi                                   Strategies Formulation and Implementation

Direksi Perseroan telah membentuk berbagai kebijakan               Our Board of Directors shapes strategic policies, guided
strategis, dipandu oleh core values Perseroan: Excellence,         by our core values: Excellence, Perseverance, Integrity,
Perseverance, Integrity, Care, and Humility. Perseroan             Care, and Humility. We prioritize excellence in every
memberikan prioritas pada excellence dalam setiap aspek            operational facet, maintain resilience in overcoming
operasional, mempertahankan resiliensi dalam mengatasi             challenges, uphold integrity in decision-making, attend to
berbagai tantangan, menjunjung tinggi integritas dalam             stakeholder needs, and embrace a humble approach to
pengambilan keputusan, memperhatikan kebutuhan seluruh             leadership and work.
pemangku kepentingan, dan mengadopsi pendekatan yang
rendah hati dalam kepemimpinan dan menjalankan pekerjaan.

Pengimplementasian strategi ini bergantung pada komitmen           The execution of these strategies hinges on our unwavering
teguh Perseroan terhadap nilai-nilai ini. Perseroan memastikan     commitment to these values. We ensure that each action
bahwa setiap tindakan mencerminkan standar excellence,             mirrors the standards of excellence, perseverance, integrity,
perseverance, integrity, care, and humility. Melalui komunikasi    care, and humility. Through transparent communication,
yang transparan, Perseroan membina lingkungan Perseroan            we foster an environment where employees embrace and
di mana seluruh karyawan mengadopsi dan mewujudkan                 embody these values in all aspects of their roles, cultivating
nilai-nilai ini dalam semua aspek peran mereka, membentuk          a robust company culture aligned with our long-term vision.
budaya perusahaan yang kuat dan sejalan dengan visi
jangka panjang Perseroan.

Sebagai kesimpulan, rumusan dan implementasi strategis             In essence, our strategic formulation and implementation
Perseroan mencerminkan tidak hanya dedikasi kami terhadap          reflect not only our dedication to progress but also our
kemajuan tetapi juga segenap kerendahan hati Perseroan             humility in recognizing the importance of values-driven
dalam menyadari pentingnya values-driven leadership.               leadership

Tinjauan Kinerja Perseroan                                         The Company’s Performance Review

Sepanjang Tahun 2023, upaya Perseroan dalam mencapai               In the past year, our Company's pursuit of financial and
target keuangan dan operasional cukup dinamis. Meskipun            operational targets has been dynamic. While our financial
pencapaian keuangan Perseroan mengalami penurunan                  achievements experienced a decline compared to the
dibandingkan tahun sebelumnya, terutama karena faktor              previous year, mainly due to external factors such as
eksternal seperti fluktuasi harga komoditas, namun dapat           fluctuating commodity prices, we witnessed positive trends
dilihat tren positif dalam kinerja operasional Perseroan.          in our operational performance.

Sebagai contoh, pada sektor LPG, produksi mengalami                For instance, in the LPG sector, production saw a notable
peningkatan yang signifikan sebesar 14% dari 63.771 MT             increase of 14% from 63,717MT in 2022 to 72,941 MT in
pada Tahun 2022 menjadi 72.941 MT pada Tahun 2023.                 2023. Similarly, despite a slight decrease in production in
Demikian pula, meskipun terjadi sedikit penurunan produksi         the Ammonia sector due to routine maintenance activities
dalam sektor Amoniak akibat kegiatan pemeliharaan rutin            in the first quarter of 2023, we observed enhanced efficiency
pada kuartal pertama Tahun 2023, namun dapat dilihat               and effectiveness thereafter.
peningkatan efisiensi dan efektivitas setelahnya.

Menjadi catatan, bahwa sektor Amoniak merupakan                    It's worth noting that the Ammonia sector contributed the
kontributor terbesar pendapatan Perseroan, hal ini disebabkan      highest revenue, attributed to its larger production scale
oleh skala produksi dan kapasitasnya yang lebih besar              and capacity compared to the LPG sector.
dibandingkan dengan sektor LPG.

Dalam hal kinerja keuangan, Perseroan mencatat pendapatan          In terms of financial performance, our Company recorded
sebesar US$345,0 juta dan keuntungan sebesar US$46,7 juta          revenue of US$345.0 million and a profit of US$46.7 million
pada Tahun 2023. Meskipun hasil ini di bawah target Perseroan      in 2023. While these results fell below our targets or the


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     atau pencapaian tahun sebelumnya, penurunan tersebut            previous year's figures, we recognize the impact of external
     merupakan dampak dari faktor eksternal, terutama penurunan      factors, particularly the decrease in commodity prices, which
     harga komoditas, yang berada di luar kendali Perseroan.         were beyond our control.

     Dengan berbagai tantangan tersebut, Perseroan tetap             Despite these challenges, we remain committed to enhancing
     berkomitmen untuk meningkatkan pengembangan operasional         operational improvements and efficiency to maintain a
     dan efisiensi guna menjaga keseimbangan antara pencapaian       balance between financial and operational achievements,
     keuangan dan operasional, yang akan mendukung perjalanan        supporting our journey towards sustainable growth.
     Perseroan menuju pertumbuhan yang berkelanjutan.

     Prospek Usaha                                                   Business Prospect

     Direksi memperkirakan adanya peluang bisnis positif bagi        The Board of Directors foresees positive business
     Persroan baik dalam jangka pendek maupun jangka panjang,        opportunities for the Company in both the short and long
     khususnya di sektor LPG dan Amoniak. Optimisme ini              term, particularly in the LPG and Ammonia sectors. This
     didukung oleh peningkatan bertahap harga komoditas yang         optimism is bolstered by the gradual increase in commodity
     terjadi pada kuartal keempat Tahun 2023, dengan proyeksi        prices observed in the fourth quarter of 2023, with anticipated
     stabilitas yang akan terjadi Tahun 2024. Direksi memprediksi    stability projected for 2024. We expect these favorable
     kondisi pasar yang menguntungkan ini akan berdampak             market conditions to positively impact our performance in
     positif pada kinerja Perseroan di tahun mendatang.              the upcoming year.

     Menjelang Tahun 2024, fokus Perseroan tetap pada penguatan      Looking ahead to 2024, our focus remains on strengthening
     operational excellence melalui kemajuan teknologi. Perseroan    operational excellence through technological advancements.
     bertujuan untuk menyelesaikan implementasi sistem SAP di        We aim to complete the implementation of the SAP system
     seluruh Grup ESSA dan memperkenalkan sistem HRIS untuk          across the entire ESSA Group and introduce the HRIS system
     meningkatkan manajemen sumber daya manusia. Selain itu,         to enhance human resources management. Furthermore,
     rencana jangka panjang Perseroan mencakup proyek                our long-term plans include the ongoing development
     pengembangan yang sedang berlangsung untuk mengubah             project to transform existing facilities into proficient Blue
     fasilitas eksisting menjadi fasilitas produsen Blue Ammonia     Ammonia producers, slated for completion by 2027.
     yang efisien, yang dijadwalkan rampung pada Tahun 2027.         Additionally, we continue to explore promising business
     Selain itu, Perseroan terus melakukan eksplorasi peluang        opportunities in the LPG sector.
     bisnis lain yang menjanjikan di sektor LPG.

     Penerapan GCG                                                   GCG Implementation

     Direksi telah mengukuhkan kebijakan terkait penerapan           The Board of Directors has instilled a robust policy for
     Tata Kelola Perusahaan yang Baik (Good Corporate                implementing Good Corporate Governance (GCG) at the
     Governance/GCG) di Perseroan. Menjunjung prinsip-prinsip        Company. Upholding principles of ethical behavior,
     perilaku etis, transparansi, akuntabilitas, dan keberlanjutan   transparency, accountability, and sustainability in decision-
     dalam akan selalu menjadi pijakan dalam setiap pengambilan      making remains paramount. Collaborating closely with the
     keputusan. Bersama dengan Sekretaris Perusahaan, Direksi        Corporate Secretary, we conduct ongoing reviews to ensure
     melakukan tinjauan berkala untuk memastikan penerapan           the steadfast implementation of GCG principles.
     yang baik dari prinsip-prinsip GCG.

     Sepanjang Tahun 2023, Perseroan secara bertahap                 Throughout 2023, we steadily refined internal policies,
     menyempurnakan kebijakan internal, memperkuat mekanisme         bolstered supervision and control mechanisms, and enhanced
     pengawasan dan kontrol, serta meningkatkan transparansi         transparency in financial reporting and operational activities.
     dalam pelaporan keuangan dan aktivitas operasional.             These efforts signify our commitment to continuously elevate
     Upaya-upaya ini menandakan komitmen Perseroan untuk             the quality of GCG within the Company, adopting best
     terus meningkatkan kualitas GCG di Perseroan, mengadopsi        practices and fostering integrity and trust among stakeholders.
     best practice, dan memupuk integritas dan kepercayaan di
     antara para pemangku kepentingan.


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            KILAS           LAPORAN       PROFIL        ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
            KINERJA         MANAJEMEN     PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
            Performance     Management    Company       Management                     Corporate      Sustainability    Financial
            Overview        Report        Profile       Discussion And Analysis        Governance     Report            Report




Pengelolaan SDM                                                   HR Management

Direksi telah menetapkan kebijakan terkait manajemen Sumber       The Board of Directors has instituted a robust policy
Daya Manusia (SDM) di Perseroan. Direksi percaya bahwa            concerning Human Resources (HR) management within the
SDM merupakan salah satu pendorong fundamental kesuksesan         company. Recognizing HR as a fundamental driver of our
Perseroan, oleh karena itu manajemen SDM menjadi prioritas        success, we prioritize HR management in policy formulation.
utama dalam perumusan kebijakan. Pada Tahun 2023, Direksi         In 2023, we continued to emphasize the importance of
terus menekankan pentingnya pengembangan kemampuan                nurturing the capabilities and competencies of our human
dan kompetensi sumber daya manusia Perseroan.                     resources.

Untuk mencapai hal ini, Direksi menerapkan berbagai inisiatif,    To achieve this, we implemented various initiatives, including
termasuk mengikutsertakan karyawan dalam berbagai                 enrolling employees in diverse training programs, courses,
program pelatihan, kursus, dan sertifikasi profesional yang       and professional certifications relevant to their roles. These
relevan dengan peran mereka. Inisiatif-inisiatif ini mencakup     initiatives cover both technical aspects and the development
aspek teknis maupun pengembangan soft skill atau                  of soft skills or personality traits. Detailed information on
karakteristik kepribadian. Informasi rinci tentang pelatihan      the training for each function will be documented in our
untuk setiap fungsi akan didokumentasikan dalam laporan           annual report. This represents a tangible step towards
tahunan Perseroan. Hali ini merupakan langkah nyata menuju        enhancing the quality of our workforce, ensuring they
peningkatan kualitas SDM Perseroan, memastikan bahwa              possess the necessary skills to support our company's
mereka memiliki keterampilan yang diperlukan untuk                growth and sustainability.
mendukung pertumbuhan dan keberlanjutan Perseroan.

Penjelasan Direksi terkait Kinerja                                The Board of Directors Explanation related
Keberlanjutan                                                     to Sustainability Performance

Kebijakan dalam Merespon Tantangan untuk Menerapkan               Policies in Responding Challenges to Implement
Strategi Keberlanjutan                                            Sustainability Strategies

Sebagai respon terhadap tantangan keberlanjutan, Direksi          In response to sustainability challenges, our Board has
telah menerapkan praktik operasional berkelanjutan yang           implemented comprehensive sustainable operational
komprehensif di seluruh Perusahaan, meskipun belum                practices across the Company, though not yet fully
sepenuhnya didokumentasikan. Untuk mengatasi tantangan            documented. To address these challenges, we are developing
ini, Perseroan sedang mengembangkan mekanisme pelaporan           an internal sustainability reporting mechanism to ensure
keberlanjutan internal untuk memastikan dokumentasi yang          thorough documentation of all our sustainable achievements.
komperhensif atas seluruh pencapaian keberlanjutan
Perseroan.

Pada Tahun 2023, upaya keberlanjutan Perseroan diakui             In 2023, our sustainability efforts were recognized with
dengan berbagai penghargaan seperti Green Proper 2021-            awards such as the Green Proper 2021-2023 and an
2023 dan Penghargaan Lingkungan dari Badan Lingkungan             Environmental Award from the Central Sulawesi Provincial
Hidup Provinsi Sulawesi Tengah. Selain itu, Perseroan             Environmental Agency. Additionally, we obtained ISO 14001-
memperoleh sertifikasi ISO 14001-2015 untuk Sistem                2015 certification for Environmental Management Systems,
Manajemen Lingkungan, yang menunjukkan komitmen                   showcasing our commitment to sustainable and
Perseroan terhadap praktik yang berkelanjutan dan ramah           environmentally friendly practices. We remain dedicated
lingkungan. Perseroan tetap berdedikasi untuk meningkatkan        to enhancing reporting and documentation related to
kualitas pelaporan dan dokumentasi terkait keberlanjutan          sustainability as part of our broader strategy.
sebagai bagian dari strategi Perseroan.

Secara eksternal, Perseroan hampir tidak menemui masalah          Externally, we have encountered minimal issues related to
terkait strategi keberlanjutan Perseroan. Namun, Perseroan        our sustainability strategy. However, we continue to monitor
terus memantau dampak yang dihasilkan, serta memastikan           its impact, ensuring alignment with stakeholder needs and
keselarasan dengan kebutuhan dan harapan seluruh pemangku         expectations. Looking ahead, we are committed to staying


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     kepentingan. Melihat ke depan, Perseroan berkomitmen untuk        informed about industry developments, regulatory changes,
     tetap mengikuti perkembangan industri, perubahan regulasi,        and global sustainability trends to adapt proactively and
     dan tren keberlanjutan global untuk beradaptasi secara proaktif   enhance our sustainable practices.
     dan meningkatkan praktik keberlanjutan Perseroan.

     Secara internal, Direksi mengakui tantangan dalam                 Internally, we acknowledge challenges in documenting our
     mendokumentasikan pencapaian keberlanjutan Perseroan              sustainability achievements and are actively addressing
     dan terus aktif mengeliminasi masalah ini. Meskipun demikian,     this issue. Nonetheless, our commitment to aligning
     komitmen Perseroan untuk menyelaraskan keberlanjutan              sustainability with our business strategy remains steadfast.
     dengan strategi bisnis Perseroan tetap teguh. Perseroan           We strive to establish clear goals, overcome resource
     berusaha untuk menetapkan tujuan yang jelas, mengatasi            constraints, and foster a culture of innovation among
     keterbatasan sumber daya, dan memupuk budaya inovasi              employees to drive sustainable practices within the Company.
     di antara karyawan untuk mendorong praktik berkelanjutan          We recognize the importance of employee engagement
     di Perseroan. Direksi mengakui pentingnya keterlibatan            and continuous improvement in our sustainability journey.
     seluruh karyawan dan perbaikan berkelanjutan dalam
     perjalanan keberlanjutan Perseroan.

     Penerapan Strategi Keberlanjutan                                  Sustainability Strategies Implementation

     Komitmen Perseroan terhadap prinsip-prinsip lingkungan            Our commitment to environmental and sustainability principles
     dan keberlanjutan terlihat dalam semua kegiatan bisnis            is evident in all our business activities. In 2023, our efforts
     Perseroan. Pada Tahun 2023, upaya Perseroan diakui                were recognized with the "Blue Proper" award from the
     dengan penghargaan "Blue Proper" dari Kementerian                 Ministry of Environment and Forestry for the 8th consecutive
     Lingkungan Hidup dan Kehutanan untuk ke-8 kalinya secara          year since 2015. Additionally, our subsidiary, PT Panca
     berturut-turut sejak Tahun 2015. Selain itu, anak perusahaan      Amara Utama, obtained the "ISO 14001:2015 Environmental
     Perseroan, PT Panca Amara Utama, memperoleh sertifikasi           Management System" certification and the "Green Proper"
     "ISO 14001:2015 Sistem Manajemen Lingkungan" dan                  award for two consecutive years since 2022.
     penghargaan "Green Proper" selama dua Tahun berturut-
     turut sejak Tahun 2022.

     Sepanjang Tahun 2023, Perseroan mencapai pencapaian               Throughout 2023, we achieved significant milestones in
     signifikan dalam manufacturing excellence, keberlanjutan          manufacturing excellence, environmental sustainability,
     lingkungan, dan adaptasi terhadap dinamika industri. Sebagai      and adapting to industry dynamics. As part of our initiative
     bagian dari inisiatif Perseroan untuk meningkatkan kondisi        to enhance local economic conditions, we implemented
     ekonomi lokal, Perseroan menerapkan Program Pertanian             the Agriculture and Livestock Program in three sub-district
     dan Peternakan di tiga wilayah kecamatan: Batui, Kintom,          regions: Batui, Kintom, and Nambo in Banggai Regency,
     dan Nambo di Kabupaten Banggai, Sulawesi Tengah. Melalui          Central Sulawesi. Through the implementation of kandangisasi
     program kandangisasi (pembangunan kandang ternak                  (construction of communal livestock enclosures), we aim
     komunal), Perseroan bertujuan untuk mencegah hewan                to prevent livestock from wandering onto roads, reducing
     ternak berkeliaran di jalan umum, mengurangi risiko               the risk of traffic accidents, while also protecting farmers'
     kecelakaan lalu lintas, juga melindungi tanaman petani lokal      crops from damage caused by free-roaming animals.
     dari kerusakan yang disebabkan oleh hewan ternak yang
     berkeliaran bebas.

     Di sektor pemberdayaan kesehatan, Perseroan berkolaborasi         In the health empowerment sector, we collaborated with
     dengan Dinas Kesehatan Kabupaten Banggai untuk melatih            the Regional Health Department of Banggai to train Posyandu
     kader Posyandu di sekitar kawasan operasional, dengan             cadres in operational areas, focusing on addressing high
     fokus pada penanggulangan kasus stunting yang tinggi dan          cases of stunting and promoting community health. We
     mempromosikan kesehatan masyarakat. Perseroan juga                also provided Additional Food for Toddlers (PMT) as nutritional
     memberikan Makanan Tambahan untuk Balita (PMT) sebagai            support for toddlers and pregnant women, contributing to
     dukungan gizi untuk balita dan ibu hamil, berkontribusi pada      our efforts in combating stunting.
     upaya Perseroan dalam memerangi stunting.


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            KILAS           LAPORAN       PROFIL        ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
            KINERJA         MANAJEMEN     PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
            Performance     Management    Company       Management                     Corporate      Sustainability    Financial
            Overview        Report        Profile       Discussion And Analysis        Governance     Report            Report




Di bidang pendidikan, Perseroan mendonasikan peralatan            In education, we donated computers and printer devices
komputer dan printer untuk memberikan manfaat bagi                to benefit schools in Banggai Regency and initiated the
berbagai di Kabupaten Banggai dan memulai program                 "Sahabat Mengajar" program to enhance the knowledge
"Sahabat Mengajar" untuk meningkatkan kapasitas                   capacity of junior high school students. Additionally, in
pengetahuan siswa sekolah menengah pertama. Selain itu,           Palembang, we provide scholarship assistance to
di Palembang, Perseroan memberikan bantuan beasiswa               economically disadvantaged students.
kepada siswa yang kurang beruntung secara ekonomi.

Kontribusi infrastruktur Perseroan, seperti sumur bor di          Our infrastructure contributions, such as boreholes in Nambo,
Nambo, telah secara signifikan meningkatkan akses ke air          have significantly improved access to clean water, supporting
bersih, mendukung kehidupan sehari-hari masyarakat.               the daily lives of the community. We also actively participate
Perseroan juga aktif berpartisipasi dalam melestarikan tradisi    in preserving cultural traditions and supporting cultural
budaya dan mendukung praktik-praktik budaya, termasuk             practices, including the conservation of the Maleo bird
konservasi burung Maleo melalui berbagai program, yang            through various programs, which have become cultural
telah menjadi ikon budaya dan objek wisata.                       icons and tourist attractions.

Pendekatan Perseroan yang beragam terhadap tanggung               Our multifaceted approach to corporate social responsibility
jawab sosial perusahaan menegaskan komitmen Perseroan             underscores our dedication to holistic development,
terhadap pembangunan holistik, berkelanjutan, dan                 sustainability, and community well-being. We evaluate
peningkatan kesejahteraan masyarakat. Perseroan terus             companies against criteria encompassing social responsibility,
melakukan evaluasi berdasarkan kriteria yang mencakup             environmental consciousness, and robust corporate
tanggung jawab sosial, kesadaran lingkungan, dan tata             governance to create a sustainable framework.
kelola perusahaan yang kuat untuk menciptakan kerangka
kerja yang berkelanjutan.

Menyadari perlunya pengungkapan yang lebih baik, Perseroan        Recognizing the need for improved disclosure, we strive to
berupaya untuk menyajikan gambaran yang lebih                     present a more comprehensive overview of our sustainability
komprehensif tentang inisiatif keberlanjutan Perseroan            initiatives in this year's report, providing deeper insights
dalam laporan tahun ini, memberikan wawasan yang lebih            into our holistic approach to sustainability.
mendalam tentang pendekatan holistik Perseroan terhadap
keberlanjutan.

Indikator Pencapaian Kinerja Keberlanjutan                        Indicators of Sustainability Performance Achievement

Keberhasilan upaya keberlanjutan Perseroan dapat diukur           The success of our sustainability efforts can be gauged
melalui berbagai faktor. Pertama, kepatuhan Perseroan terhadap    through various factors. Firstly, our adherence to
standar lingkungan seperti ISO 14001:2015 berfungsi sebagai       environmental standards like ISO 14001:2015 serves as a
indikator utama. Penghargaan seperti "Proper Biru"” yang          key indicator. Awards such as the "Blue Proper" received
diterima oleh Perseroan dan "Proper Hijau", yang diterima oleh    by the Company and received by and the "Green Proper,"
anak perusahaan Perseroan PT Panca Amara Utama dari               received by the Company’s Company’s subsidiary PT Panca
Kementerian Lingkungan Hidup dan Kehutanan, secara eksternal      Amara Utama from the Ministry of Environment and Forestry,
mengakui komitmen Perseroan terhadap tanggung jawab               externally acknowledge our commitment to environmental
lingkungan.                                                       responsibility.

Selain itu, efektivitas dan dampak program CSR Perseroan di       Furthermore, the effectiveness and impact of our CSR
bidang sosial, pendidikan, dan agama merupakan tolak ukur         programs in social, educational, and religious fields are
penting. Reputasi Perseroan di kalangan pemangku kepentingan,     crucial benchmarks. Our reputation among stakeholders,
termasuk pelanggan, mitra bisnis, dan masyarakat umum,            including customers, business partners, and the general
mencerminkan kesuksesan Perseroan dalam menerapkan                public, reflects our success in implementing sustainable
praktik bisnis yang berkelanjutan.                                business practices.




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     Selain itu, peningkatan kinerja keuangan yang selaras dengan       In addition, aligning financial performance improvements
     praktik bisnis yang berkelanjutan dianggap sebagai keberhasilan.   with sustainable business practices is deemed a success.
     Dengan mempertimbangkan aspek-aspek ini secara bersama-            By considering these aspects collectively, we can evaluate
     sama, kita dapat mengevaluasi sejauh mana pencapaian               the extent to which our sustainability achievements have
     keberlanjutan Perseroan telah berdampak positif pada berbagai      positively impacted various facets of our operations.
     aspek operasinya.

     Strategi Pencapaian Target                                         Target Achievement Strategies

     Perseroan secara aktif terlibat dalam merumuskan target            The Company is actively involved in crafting sustainability
     kinerja keberlanjutan melalui tinjauan berkala yang dipimpin       performance targets through ongoing reviews led by
     oleh Direksi. Tinjauan ini menghasilkan strategi yang              management. These reviews result in impactful, sustainable
     berdampak dan berkelanjutan. Selain fokus Perseroan pada           strategies. Beyond our focus on CSR activities, our long-
     kegiatan CSR, tujuan jangka panjang Perseroan melibatkan           term goal involves providing sustainable and eco-friendly
     penyediaan produk yang berkelanjutan dan ramah lingkungan.         products. Initiatives are underway to convert existing facilities
     Inisiatif sedang dilakukan untuk mengkonversi fasilitas            for the production of environmentally friendly Blue Ammonia,
     eksisting untuk mampu memproduksi produk Blue Ammonia              aligning with our vision for a more sustainable future.
     yang ramah lingkungan, sejalan dengan visi Perseroan untuk
     masa depan yang lebih berkelanjutan.

     Pada tahun mendatang, target utama Perseroan dalam                 In the upcoming year, our primary target in the sustainability
     strategi keberlanjutan adalah meningkatkan pengungkapan            strategy is to enhance disclosure around ongoing programs.
     seputar program-program yang sedang berlangsung. Hal               This involves a comprehensive and transparent communication
     ini melibatkan pendekatan komunikasi yang komprehensif             approach to keep all stakeholders well-informed about our
     dan transparan untuk menjaga semua pemangku kepentingan            initiatives. By offering detailed insights, we aim to foster a
     tetap terinformasi tentang inisiatif Perseroan. Dengan             deeper understanding among stakeholders, promoting
     menyajikan informasi yang komperhensif, Perseroan bertujuan        transparency and accountability in our sustainability practices.
     untuk memupuk pemahaman yang lebih mendalam kepada
     seluruh pemangku kepentingan, mempromosikan transparansi
     dan akuntabilitas dalam praktik keberlanjutan Perseroan.

     Selain itu, fokus strategis Perseroan berkembang untuk             Furthermore, our strategic focus extends to strengthening
     memperkuat dan memperluas program-program dengan                   and expanding programs with a substantial impact on
     dampak signifikan pada berbagai aspek Sustainable                  various Sustainable Development Goal (SDG) aspects. This
     Development Goals (SDG). Komitmen ini tidak terbataskepada         commitment goes beyond maintaining, aiming to advance
     pemeliharaan, namun bertujuan untuk memajukan kontribusi           our positive contributions to environmental, social, and
     positif Perseroan terhadap dimensi lingkungan, sosial, dan         economic dimensions. Our goal is to create enduring change
     ekonomi. Tujuan Perseroan adalah menciptakan perubahan             in line with sustainability principles, showcasing our dedication
     yang berkelanjutan sesuai dengan prinsip keberlanjutan,            to long-term impact and responsible corporate citizenship
     dan menegaskan dedikasi Perseroan terhadap dampak
     jangka panjang dan responsible corporate citizenship.




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           KILAS          LAPORAN       PROFIL       ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
           KINERJA        MANAJEMEN     PERUSAHAAN   PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
           Performance    Management    Company      Management                     Corporate      Sustainability    Financial
           Overview       Report        Profile      Discussion And Analysis        Governance     Report            Report




Penutup                                                        Closing Remarks

Atas nama Direksi, apresiasi terdalam kami tujukan kepada      On behalf of the Board of Directors, our deepest appreciation
para pemegang saham, pemangku kepentingan, dan mitra           goes to the shareholders, stakeholders and business
bisnis Perseroan atas kepercayaan dan dukungan mereka          partners of the Company for their continued trust and
yang terus menerus. Kami juga ingin mengucapkan terima         support. We would also like to express our special thanks
kasih secara khusus kepada Dewan Komisaris, Komite Audit,      to the Board of Commissioners, Audit Committee, and every
dan setiap karyawan yang tanpa lelah berkontribusi pada        employee who tirelessly contributed to the growth of the
pertumbuhan Perseroan di tengah pandemi ini. Kami juga         Company in the midst of this pandemic. Our appreciation
menyampaikan apresiasi kepada Pemerintah, pihak regulator,     also extends to the Government, regulators, and the public,
dan masyarakat, kami berkomitmen untuk mewujudkan              we are committed to achieve sustainable growth in order
pertumbuhan yang berkelanjutan agar dapat terus                to continue to provide added value to shareholders and
memberikan nilai tambah kepada pemegang saham dan              stakeholders.
pemangku kepentingan.




                                                Atas nama Direksi,
                                         On behalf of the Board of Directors,




                                                   Kanishk Laroya
                                              Presiden Direktur & CEO
                                              President Director & CEO




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      03
                                                PROFIL
                                                PERUSAHAAN
                                                COMPANY
                                                PROFILE
                                        34   Identitas Perseroan                          53   Profil Direksi
                                             Corporate Identity                                Board of Directors’ Profile
                                        35   Identitas Baru Essa                          57   Pernyataan Independensi
                                             ESSA’S New Identity                               Komisaris Independen
                                        36   Visi, Misi & Nilai Perusahaan                     Independent Statement of
                                             Vision, Mission and Corporate                     Independent Commissioners
                                             Values [C.1]                                 57   Sumber Daya Manusia
                                        37   Logo ESSA                                         Human Resources
                                             ESSA’S Logo                                  69   Komposisi Pemegang Saham
                                        38   Riwayat Singkat Perseroan                         Shareholders Composition [C.3]
                                             Brief History of the Company                 72   Struktur Pemegang Saham
                                        40   Jejak Langkah Perseroan                           Shareholders Structure
                                             Milestones of the Company                    73   Kronologi Pencatatansaham
                                        42   Kegiatan Usaha Utama                              dan Efek Lainnya
                                             Main Business Activities [C.4]                    Chronology of Share and Other
                                                                                               Securities Listing
                                        44   Produk Perseroan
                                             Products of the Company [C.4]                74   Peta Operasional
                                                                                               Operational Map [C.3]
                                        45   Struktur Organisasi
                                             Organizational Structure                     75   Entitas Anak
                                                                                               Subsidiaries
                                        46   Perubahan Signifikan Tahun 2023
                                             Significant Changes in 2023 [OJK C.6]        78   Informasi Akuntan
                                                                                               Publik dan Kantor Akuntan Publik
                                        46   Daftar Keanggotaan Asosiasi Industri              Information of Public Accountant and
                                             Industrial Association Membership [C.5]           Public Accounting Firm
                                        47   Perubahan Komposisi Anggota                  79   Lembaga dan Profesi Penunjang
                                             Dewan Komisaris dan Direksi                       Pasar Modal
                                             Changes in The Composition of The Board of        Capital Market Supporting Institutions
                                             Commissioners and Board of Directors              and Professions
                                        48   Profil Dewan Komisaris                       79   Penghargaan dan Sertifikasi
                                             Board of Commissioners’ Profile                   Awards and Certificates




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     Sustaining Operational Excellence



     Identitas Perseroan
     Corporate Identity


             Nama Perseroan                               PT ESSA Industries Indonesia Tbk.
             Company Name                                            (d.h. PT Surya Esa Perkasa Tbk.)

                  Kegiatan Usaha Utama                          Tanggal Pendirian          Jumlah Aset
                      Main Business                            Date of Establishment       Total Assets [C.3]
                                                                                           Per 31 Desember 2023
                                                                                           US$ 695.442.247
                                                                                           As of 31 December 2023
                                                                                           US$ 695,442,247

                                                                                           Jumlah Liabilitas
                      Pengolahan gas
                   bumi dan kimia dasar
                                                         24 Maret 2006                     Total Liabilities [C.3]
                                                                                           Per 31 Desember 2023
                                                                                           US$ 197.698.606
                 Gas refinery and chemicals              24 March 2006                     As of 31 December 2023
                                                                                           US$ 197,698,606

                                                                                           Pemegang Saham Pengendali
               Alamat Kantor Pusat            DBS Bank Tower 18th Floor                    Majority Shareholders
               Head Office [C.2]              Ciputra World 1 Jakarta                      Chander Vinod Laroya
                                              Jl. Prof. Dr. Satrio Kav. 3-5                16,38% (langsung/direct),
                                              Jakarta 12940, Indonesia                     6,30% (tidak langsung/indirect)
               Alamat Kilang LPG              Jl. Raya Palembang – Indralaya Km. 17
               LPG Plant                      Simpang Y Palembang, Dusun II, Desa          Kode Saham
                                              Sungai Rambutan, Kec. Indralaya Utara,       Ticker Code
                                              Kab. Ogan Ilir, Sumatra Selatan, Indonesia
                                                                                           ESSA
               Alamat Kilang Amoniak          Jl. Poros Sulawesi, Desa Uso Kecamatan
               Ammonia Plant                  Batui, Kabupaten Banggai, Sulawesi
                                              Tengah, Indonesia

               Pemilik Manfaat Akhir          Chander Vinod Laroya dan Garibaldi
               Ultimate Beneficial Owner      Thohir
                                                                                           Telepon
               Nomor Induk Berusaha (NIB)     ID 8120217170366                             Phone
               Single Business Number (NIB)
                                                                                           +62 21 2988 5600 / 5700
               Modal Dasar                    22.000.000.000 lembar saham dengan
               Authorized Capital             nilai nominal Rp10 per saham                 Faksimili
                                              22,000,000,000 shares with nominal value     Facsimile
                                              of Rp10 per share
                                                                                           +62 21 2988 5601 / 5701
               Modal Ditempatkan              17.226.975.700 lembar saham
               dan Disetor Penuh              17,226,975,700 shares                        Alamat Surat Elektronik
               Issued and Paid-Up Capital                                                  Email Address
                                                                                           corpsec.eii@essa.id

                                                                                           Alamat Situs
                                                                                           Website
                                                                                           www.essa.id




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           KILAS         LAPORAN      PROFIL       ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
           KINERJA       MANAJEMEN    PERUSAHAAN   PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
           Performance   Management   Company      Management                     Corporate      Sustainability    Financial
           Overview      Report       Profile      Discussion And Analysis        Governance     Report            Report




Identitas Baru Essa
ESSA’S New Identity

Identitas baru Perusahaan secara resmi berubah dari:
The Company’s new identity officially changed from:




                                                   Menjadi
                                                     To


Pada tanggal 9 Oktober 2023, Perseroan resmi berganti        On 9 October 2023, the Company officially changed its
nama dari nama sebelumnya yaitu PT Surya Esa Perkasa         name from its previous name, PT Surya Esa Perkasa Tbk.
Tbk. menjadi PT ESSA Industries Indonesia Tbk. Perubahan     to PT ESSA Industries Indonesia Tbk. This change aligns
ini seiring dengan re-branding grup sebagai “ESSA” pada      with the group re-branding as “ESSA” at the beginning of
awal tahun 2021.                                             2021.

Perubahan nama sesuai dengan persetujuan Anggaran            The name change is in accordance with the approval of
Dasar melalui Surat Keputusan Menteri Hukum dan HAM          the Articles of Association through the Decree of the
RI Nomor AHU- 0061148.AH.01.02.TAHUN 2023. Oleh              Minister of Law and Human Rights of the Republic of
karena itu, efektif sejak tanggal 9 Oktober 2023 seluruh     Indonesia Number AHU- 0061148.AH.01.02.YEAR 2023.
kegiatan Perseroan dilakukan dengan nama PT ESSA             Therefore, effective from 9 October 2023, all activities of
Industries Indonesia Tbk. dengan kode saham emiten yang      the Company are carried out under the name PT ESSA
sama yaitu ESSA dan telah disampaikan kepada OJK dan         Industries Indonesia Tbk. with the same issuer stock code,
IDX pada tanggal 10 Oktober 2023. Perubahan nama ini         namely ESSA and have been submitted to OJK and IDX on
tidak mengubah kode saham dan tidak mengubah hak dan         10 October 2023. This name change does not change the
kewajiban Perseroan yang telah disepakati sebelum            ticker name/stock code and does not change the rights
perubahan nama dilakukan.                                    and obligations of the Company that have been agreed
                                                             before the name change is carried out.




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     Sustaining Operational Excellence



     Visi, Misi & Nilai Perusahaan
     Vision, Mission and Corporate Values [C.1]




     VISI / VISION
      Memimpin upaya Indonesia                                MISI / MISSION
      untuk mewujudkan                                        Memberikan nilai tambah bagi sumber daya
                                                              Indonesia, melalui investasi pada sektor riil,
      industrialisasi kelas dunia.                            pengembangan sumber daya manusia,
      To lead Indonesia’s drive to                            mengurangi ketergantungan negara pada
                                                              impor dan menciptakan peluang untuk
      world class industrialization.                          meningkatkan pertumbuhan.
                                                              Add value to Indonesia’s resources by
                                                              investing in the real sector, developing human
                                                              capital, reducing the country’s dependence
                                                              on imports, and creating opportunities for
                                                              further growth.



     NILAI PERUSAHAAN /
     CORPORATE VALUES




                  Excellence, Perseverance, Integrity, Care


              EXCELLENCE                   PERSEVERANCE               INTEGRITY                  CARE
              KEUNGGULAN                   KETEKUNAN                  INTEGRITAS                 PEDULI

        Kami berkomitmen             Kami memiliki             Kami jujur, profesional,   Kami senantiasa peduli
        untuk menghasilkan           ketekunan dan             dan berlandaskan           terhadap masyarakat
        kinerja yang terbaik.        kegigihan yang kuat       moral dalam semua          sekitar dan lingkungan.
        We are committed to          dalam mencapai tujuan.    kegiatan usaha kami.       We always care about
        provide the best             We have a strong          We are honest,             the local community
        performance.                 perseverance and          professional, and          and the environment.
                                     tenacity in achieving     moral-based in all our
                                     goals.                    business activities.




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             KILAS            LAPORAN         PROFIL       ANALISIS DAN                   TATA KELOLA      LAPORAN           LAPORAN
             KINERJA          MANAJEMEN       PERUSAHAAN   PEMBAHASAN MANAJEMEN           PERUSAHAAN       KEBERLANJUTAN     KEUANGAN
             Performance      Management      Company      Management                     Corporate        Sustainability    Financial
             Overview         Report          Profile      Discussion And Analysis        Governance       Report            Report




Logo ESSA
ESSA’S Logo

Pada tanggal 26 Maret 2021, Perseroan mengumumkan                    On 26 March 2021, the Company announced its new logo
identitas logo barunya dengan menggelar kegiatan                     identity by holding a virtual new identity introduction event.
pengenalan identitas baru secara virtual. Kegiatan ini dihadiri      This virtual event was attended by all employees of both
oleh seluruh karyawan baik Site maupun Pusat beserta                 Site and Head Office as well as members of the Board of
anggota Direksi dan Dewan Komisaris ESSA. Perubahan                  Directors and Board of Commissioners of ESSA. The new
identitas baru ini berlaku untuk semua entitas publik dan            identity applies to all Company’s entities and subsidiaries,
anak perusahaan, termasuk PT Panca Amara Utama (“PAU”).              including PT Panca Amara Utama (“PAU”).




    Warna hijau yang dominan pada logo                  Tetesan biru melambangkan air                  Dan terakhir, penggunaan
    melambangkan semangat hidup, kepedulian             sebagai sumber kehidupan, sesuatu              huruf kecil yang berfungsi
    kita terhadap masa depan yang berkelanjutan,        yang menumbuhkan kepercayaan,                  untuk mengingatkan kita
    serta energi dan semangat untuk terus               stabilitas, kecerdasan, dan kekuatan.          untuk selalu tetap rendah hati
    berkembang. Hijau juga mewakili komitmen            Symbolize water as the source of               dan menanamkannya di
    kami untuk menyediakan lingkungan kerja             life, something that fosters trust,            sekitar kita.
    yang aman bagi Karyawan dan semua pihak             stability, intelligence, and strength.         Serves as reminder to always
    yang bekerja bersama kami.                                                                         remain humble.
    Spirit of life, concern for a sustainable future
    and energy, enthusiasm to continue to grow,
    and commitment to providing a safe work
    environment.




ESSA artinya Satu.                                                   ESSA means One.

Identitas merek baru mencerminkan keinginan kolektif Grup            The new brand identity reflects the Group’s collective desire
untuk bersatu, menjadi yang terbaik dalam apa yang kami              to become unified, be the best at what we do, and always
lakukan dan selalu melakukannya dengan kerendahan hati.              do it with humility. This represents the Group’s desire to
Hal ini mewakili keinginan Grup untuk selalu berkontribusi           always contribute as One for Indonesia.
sebagai satu untuk Indonesia.

Proses perubahan identitas yang dilakukan Perseroan                  The identity change process carried out by the Company
berdasarkan Sertifikat Merek Brand Identity ESSA tanggal             is based on the ESSA Brand Identity Certificate dated 2
2 September 2020 dari Direktorat Jenderal Kekayaan                   September 2020 from the Directorate General of Intellectual
Intelektual, Kementerian Hukum dan Hak Asasi Manusia                 Property, Ministry of Law and Human Rights (Kemenkumham).
(Kemenkumham). Untuk diperhatikan bahwa perubahan                    The change in brand identity has no impact on changing
identitas merek ini tidak berdampak pada perubahan nama              the name of the Company’s legal entity, or on the Company’s
badan hukum Perseroan sebagai entitas, atau pada perjanjian          ongoing agreements and/or commitments with any Party.
dan/atau komitmen Perseroan yang sedang berlangsung
dengan Pihak mana pun.


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                                                                                                 PT ESSA Industries Indonesia Tbk.
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     Sustaining Operational Excellence



     Riwayat Singkat Perseroan
     Brief History of the Company

     PT ESSA Industries Indonesia Tbk. (d.h. PT Surya Esa Perkasa    PT ESSA Industries Indonesia Tbk. (formerly PT Surya Esa
     Tbk.), selanjutnya disebut “Perseroan”, bergerak di bidang      Perkasa Tbk.), hereinafter referred to as the "Company",
     pemurnian dan pengolahan gas bumi. Perseroan berdiri            engages in the purification and processing of natural gas.
     atas dasar Akta Pendirian No.7 tertanggal 24 Maret 2006,        The Company was established based on Deed of
     yang dibuat di hadapan Hasbullah Abdul Rasyid, S.H., MKn.,      Establishment No. 7 dated 24 March 2006 made before
     Notaris di Jakarta yang telah disahkan oleh Menteri Kehakiman   Hasbullah Abdul Rasyid, S.H., MKn., Notary in Jakarta, which
     Republik Indonesia dalam Surat Keputusannya No. C-13339         was approved by the Minister of Justice of the Republic of
     T.01.01.Th.2006 tanggal 9 Mei 2006 serta telah diumumkan        Indonesia in its Decree No. C-13339 T.01.01.Th.2006 dated
     dalam Berita Negara Republik Indonesia No. 76, tanggal 23       May 9, 2006, and has been announced in the State Gazette
     September 2011, Tambahan No. 29332.                             of the Republic of Indonesia No. 76, 23 September 2011,
                                                                     Supplement No. 29332.

     Pada awalnya, Perseroan memiliki misi untuk menjadi             In the beginning, the Company had a mission to be the
     perusahaan terdepan dalam bidang produksi LPG dan               leading company in the field of LPG and condensate
     kondensat di Indonesia dan berpartisipasi dalam misi            production in Indonesia and participate in government
     pemerintah yaitu swasembada LPG, petrokimia, dan nilai          missions namely LPG self-sufficiency, petrochemicals, and
     tambah produk hilir gas. Kini Perseroan telah melakukan         value-added downstream gas products. Now the Company
     transformasi dengan visi misi yaitu memimpin upaya Indonesia    has transformed its vision and mission to lead Indonesia's
     untuk mewujudkan industrialisasi kelas dunia dan memberikan     efforts to realize world-class industrialization and provide
     nilai tambah bagi sumber daya Indonesia, melalui investasi      added value to Indonesia's resources, through investment
     pada sektor riil, pengembangan sumber daya manusia,             in the real sector, human resource development, reducing
     mengurangi ketergantungan negara pada impor dan                 the country's dependence on imports and creating
     menciptakan peluang untuk meningkatkan pertumbuhan.             opportunities to increase growth.

     Perseroan memiliki dan mengoperasikan kilang bahan bakar        The Company owns and operates a Liquified Petroleum
     gas cair (Liquified Petroleum Gas LPG) yang merupakan           Gas (LPG), which is the second-largest privately owned
     kilang terbesar kedua milik swasta di Indonesia dan             refinery in Indonesia and is one of the national vital objects.
     merupakan salah satu objek vital nasional. Kilang LPG           The Company's LPG refinery is located in Palembang,
     Perseroan terletak di Palembang, Indonesia. Menyusul            Indonesia. Following the completion of the LPG refinery
     rampungnya ekspansi kilang LPG, Perseroan telah berhasil        expansion, the Company has succeeded in increasing
     meningkatkan kapasitas produksi hingga 50% pada November        production capacity by 50% in November 2014 to 190 TPD
     2014 menjadi 190 TPD (ton per hari) untuk LPG dan 500           (tons per day) for LPG and 500 BPD (barrels per day) for
     BPD (barel per hari) untuk Kondensat.                           Condensate.

     Transformasi Menjadi Perusahaan Publik                          Transformation to be a Public Company

     Pada 1 Februari 2012, Perseroan resmi menjadi emiten            Since 1 February 2012, the Company officially became a
     setelah suksesnya Penawaran Saham Perdana (IPO) dan             listed company after the success of the Initial Public Offering
     pencatatan sahamnya di Bursa Efek Indonesia (BEI). Perseroan    (IPO) and listed its shares on the Indonesia Stock Exchange
     mencatatkan 250.000.000 (dua ratus lima puluh juta) saham       (IDX). The Company listed 250,000,000 (two hundred and
     dengan nominal Rp100 per lembar saham yang ditawarkan           fifty million) shares with a nominal value of Rp100 per share
     pada harga Rp610 per lembar saham.                              offered for Rp610 per share.

     Seiring dengan kebutuhan ekspansi Perseroan pada 4               In line with the expansion needs of the Company, on 4
     September 2013 Perseroan melakukan Penambahan Modal             September 2013, the Company carried out Capital Increase
     Tanpa Hak Memesan Efek Terlebih Dahulu (PMTHMETD).              without Pre-emptive Rights (PMTHMETD). 100,000,000 (one
     Sebanyak 100.000.000 (seratus juta) saham diterbitkan           hundred million) shares were issued with an exercise price
     dengan harga pelaksanaan Rp3.000 per lembar saham.              of Rp3,000 per share. The shares resulting from PMTHMETD
     Saham hasil PMTHMETD telah dicatatkan di Bursa Efek             were listed on the Indonesia Stock Exchange on 6 September
     Indonesia pada 6 September 2013.                                2013.




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           KILAS          LAPORAN       PROFIL        ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
           KINERJA        MANAJEMEN     PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
           Performance    Management    Company       Management                     Corporate      Sustainability    Financial
           Overview       Report        Profile       Discussion And Analysis        Governance     Report            Report




Selanjutnya pada tahun 2017 untuk memperluas kesempatan         Later in 2017, the Company carried out stock split to expand
bagi investor publik, Perseroan melakukan pemecahan nilai       opportunities for public investors. With a ratio of 1:10, there
nominal saham. Dengan rasio sebanyak 1:10 terjadi perubahan     was a change in the nominal value to Rp10 per share and
nilai nominal menjadi Rp10 per saham dan nominal saham          the new shares were listed on 27 October 2017. The
baru tersebut telah dicatatkan pada tanggal 27 Oktober          Shareholders also agreed to carry out a Limited Public
2017. Pemegang Saham juga kemudian menyetujui                   Offering I (PUT) by offering 3,500,000,000 new shares and
pelaksananan Penawaran Umum Terbatas I (PUT) dengan             Pre-emptive Rights was registered on the Indonesia Stock
menawarkan 3.500.000.000 saham baru dan HMETD (Hak              Exchange on 13 December 2017. Therefore, as of 31 December
Atas Memesan Efek Terlebih Dahulu) telah dicatatkan di          2019, all of the Company's listed shares were 14,300,000,000
Bursa Efek Indonesia pada 13 Desember 2017, sehingga            shares. In 2020 the Company has completed the Issuance
per 31 Desember 2019 seluruh saham Perseroan yang               of Shares without Pre-emptive Rights and has been listed
tercatat menjadi 14.300.000.000 saham. Pada tahun 2020          on the Indonesia Stock Exchange so that as of 31 December
Perseroan telah menyelesaikan Penerbitan Saham Tanpa            2020 all of the Company's listed shares have become
HMETD dan telah dicatatkan di Bursa Efek Indonesia sehingga     15,660,887,000 shares.In 2023, the Company carried out
per 31 Desember 2020 seluruh saham Perseroan yang               a Capital Increase without Pre-emptive Rights (PMTHMETD)
tercatat menjadi 15.660.887.000 saham. Pada tahun 2023,         by issuing 1,566,088,700 new shares, so that as of December
Perseroan melaksanakan Peningkatan Modal tanpa Hak              31, 2023 all of the Company's listed shares have become
Memesan Efek Terlebih Dahulu (PMTHMETD) dengan                  17,226,975 shares.
menerbitkan 1.566.088.700 saham baru, sehingga per 31
Desember 2023 seluruh saham Perseroan yang tercatat
menjadi 17.226.975 lembar.

Ekspansi Usaha                                                  Business Expansion

Sebagai bagian dari upaya diversifikasi bisnis, Perseroan       As part of the business diversification, the Company has
mengambil saham mayoritas dalam proyek amoniak PT               taken a majority share in PT Panca Amara Utama (PAU)’s
Panca Amara Utama (PAU). Diawali pada tahun 2011 Perseroan      ammonia project. Initiated in 2011, the Company acquired
mengakusisi saham PT Panca Amara Utama, dengan total            shares of PT Panca Amara Utama, with total share ownership
kepemilikan saham sebesar 59,98% dan kemudian pada              of 59.98% and then in 2015 the first groundbreaking by the
tahun 2015 pemancangan tiang pertama oleh Presiden              President of the Republic of Indonesia Joko Widodo on 2
Republik Indonesia Joko Widodo pada 2 Agustus 2015.             August 2015. Located in Luwuk, Banggai Regency, Central
Berlokasi di Luwuk, Kabupaten Banggai, Sulawesi Tengah,         Sulawesi, the plant obtained gas supplies from JOB Pertamina
pabrik tersebut memperoleh pasokan gas dari JOB Pertamina       - Medco E&P Tomori Sulawesi. Now the PAU ammonia
- Medco E&P Tomori Sulawesi. Kini kilang amoniak PAU            refinery has succeeded in producing more than 2,000 TPD
telah berhasil memproduksi lebih dari 2.000 TPD (Ton per        (tons per day) of ammonia with the latest and most efficient
hari) amoniak dengan teknologi terkini dan paling efisien.      technology. In 2023, the Company completed the acquisition
Pada Tahun 2023 Perseroan telah menyelesaikan akuisisi          of an additional 10% shares in PT Panca Amara Utama
tambahan 10% saham PT Panca Amara Utama (PAU) sehingga          (PAU), increasing ESSA's total share ownership in PAU from
total kepemilikan saham ESSA di PAU yang sebelumnya             60% to 70%.
60% meningkat menjadi 70%.




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     Sustaining Operational Excellence



     Jejak Langkah Perseroan
     Milestones of the Company




     2006                                               2007                                              2008
     •     Perseroan berdiri dengan nama PT Surya       •   Penandatanganan Perjanjian Jual Beli LPG      •   Kilang LPG Perseroan telah beroperasi
           Esa Perkasa pada 24 Maret 2006.                  dengan PT Pertamina (Persero).                    secara penuh.
           The Company was established under the            Signing of LPG Sale and Purchase                  The Company's LPG refinery is fully
           name of PT Surya Esa Perkasa on March            Agreement with PT Pertamina (Persero).            operational.
           24, 2006.                                    •   Produksi komersial kilang dimulai.
     •     Pembangunan kilang dan instalasi                 Commercial production of refineries begins.
           pengolahan gas bumi di Palembang dimulai.
           Construction of a refinery and natural gas
           processing installation in Palembang
           begins.




     2017                                                                                        2016
     •     Perseroan memperingati 10 tahun kegiatan operasional kilang LPG di Palembang          •    Produksi kilang LPG Perseroan mencapai
           sekaligus 5 tahun pencatatan saham di Bursa Efek Indonesia.                                rata-rata bulanan tertinggi sejak beroperasi
           The Company commemorated 10 years of LPG refinery operational activities in                yaitu mencapai 7.700 MT.
           Palembang as well as 5 years of listing of shares on the Indonesia Stock Exchange.         The Company's LPG refinery production
     •     Perseroan melakukan pemecahan nilai nominal saham (stock split) dengan rasio               achieved the highest monthly average
           1:10 yang efektif dicatatkan pada tanggal 27 Oktober 2017.                                 since operation, reaching 7,700 MT.
           The Company carried out stock split with a ratio of 1:10 which was effectively
           recorded on October 27, 2017.
     •     Pemegang Saham Perseroan menyetujui Penambahan Modal dengan memberikan
           Hak Memesan Efek Terlebih Dahulu (HMETD) dan memulai proses untuk HMETD
           tersebut.
           The Company's Shareholders approved the Capital Increase by granting Pre-
           emptive Rights (HMETD) and started the process for the HMETD.




 2018                                                       2019                                          2020
 •       Pada bulan Februari 2018 Perseroan berhasil •       Tanggal 2 Mei 2019 Perseroan melakukan •         Pemegang Saham Perseroan menyetujui
         menyelesaikan penambahan modal dengan               Grand Launcing VMV (Visi, Misi & Nilai-Nilai     Penambahan Modal Tanpa Memberikan
         HMETD sebesar Rp495 miliar.                         Inti) untuk seluruh Group Perusahaan.            Hak Memesan Efek Terlebih Dahulu
         In February 2018 the Company successfully           On 2 May 2019 the Company held a Grand           (PMTHMETD) sebesar Rp184 miliar.
         completed additional capital with a pre-emptive     Luncing VMV (Vision, Mission & Core              Shareholders of the Company approved
         right of Rp495 billion.                             Values) for the entire Group Company.            the Capital Increase without Pre-emptive
 •       Pabrik Amoniak milik Panca Amara Utama (PAU)                                                         Rights (PMTHMETD) amounting to Rp184
         telah mulai beroperasi secara komersial.                                                             billion.
         Ammonia plant owned by Panca Amara Utama
         (PAU) has started to operate commercially.




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                      KILAS            LAPORAN          PROFIL        ANALISIS DAN                   TATA KELOLA    LAPORAN             LAPORAN
                      KINERJA          MANAJEMEN        PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN       KEUANGAN
                      Performance      Management       Company       Management                     Corporate      Sustainability      Financial
                      Overview         Report           Profile       Discussion And Analysis        Governance     Report              Report




2009                                2010                                    2011                                  2012
•       Produksi kondensat mampu •      Perseroan menjadi fasilitas •            Perubahan status dari •            Pencatatan saham di Bursa Efek
        memenuhi kebutuhan              produksi LPG swasta terbesar di          Perusahaan Tertutup menjadi        Indonesia pada tanggal 1 Februari
        domestik.                       Indonesia dengan kapasitas               Perusahaan Terbuka.                2012, setelah melakukan IPO
        Condensate production was       produksi 37.774 MT LPG dan               Change of status from a            pada harga Rp610 per saham.
        able to meet domestic needs.    149.000 bbl kondensat.                   Private Company to a Public        The listing of shares on the
                                        The Company became the largest           Company.                           Indonesia Stock Exchange on 1
                                        private LPG production facility in                                          February 2012, after conducting
                                        Indonesia with a production                                                 an IPO at the price of Rp610 per
                                        capacity of 37,774 MT of LPG and                                            share.
                                        149,000 bbl of condensate.




    2015                                            2014                                        2013
    •    Presiden Republik Indonesia Joko Widodo    •     Proyek ekspansi kilang LPG            •   Dimulainya pekerjaan konstruksi ekspansi kilang LPG
         meresmikan pemancangan tiang pertama             selesai dilaksanakan dan berhasil         pada tanggal 19 Juni 2013, kapasitas produksi
         pembangunan pabrik amoniak PT Panca              meningkatkan kapasitas produksi           ditingkatkan menjadi 190 TPD.
         Amara Utama, entitas anak Perseroan, di          hingga 50%.                               Commencement of construction work on the expansion
         Kabupaten Banggai Sulawesi Tengah pada           The LPG refinery expansion                of the LPG refinery on 19 June 2013, production
         tanggal 2 Agustus 2015.                          project was completed and                 capacity was increased to to 190 TPD.
         President of the Republic of Indonesia           succeeded in increasing               •   Penerbitan 100 juta saham tanpa Hak Memesan Efek
         Joko Widodo inaugurated the                      production capacity by up to              Terlebih Dahulu pada tanggal 4 September 2013,
         groundbreaking of the PT Panca Amara             50%.                                      dengan nilai nominal Rp100 per saham pada harga
         Utama ammonia factory, a subsidiary of                                                     pelaksanaan Rp3.000 per saham.
         the Company, in Banggai Regency, Central                                                   Issuance of 100 million shares without preemptive
         Sulawesi on 2 August 2015.                                                                 rights on 4 September 2013, with a nominal value of
                                                                                                    Rp100 per share at an exercise price of Rp3,000 per
                                                                                                    share.




                                                                                                          2023
    2021                                            2022                                              •   ESSA membagikan Dividen Tertinggi
                                                                                                          ESSA distributes the Highest Dividend
    •    MoU Produksi Blue Ammonia ditandatangani   •     PAU menandatangani MoU with JGC             •   Meningkatkan 10% Kepemilikan Bisnis Amoniak
         PAU pada 18 Maret 2021                           untuk mengukur GRK di Pabrik                    Increase 10% Ammonia Business Ownership
         Blue Ammonia Production MoU signed by            Amoniaknya di Banggai                       •   Perubahan nama menjadi PT ESSA Industries
         PAU on 18 March 2021                             PAU signs MoU with JGC to measure               Indonesia Tbk.
    •    Pada tanggal 26 Maret 2021, PT Surya Esa         GHG at its Ammonia Plant in Banggai             Name change to PT ESSA Industries Indonesia Tbk.
         Perkasa Tbk. melakukan rebranding grup     •     ESSA telah membagikan Dividen Pertama       •   Melaksanakan Peningkatan Modal tanpa Hak
         dengan logo baru ESSA                            ESSA has distributed the First Dividend         Memesan Efek Terlebih Dahulu (PMTHMETD)
         On 26 March 2021, PT Surya Esa Perkasa                                                           dengan menerbitkan 1.566.088.700 saham baru
         Tbk. rebranding the group with the new                                                           Carried out a Capital Increase without Pre-emptive
         ESSA logo                                                                                        Rights (PMTHMETD) by issuing 1,566,088,700 new
    •    Refinanced Pinjaman IFC $525 MM                                                                  shares
         Refinanced IFC Loans $525 MM


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     Sustaining Operational Excellence



     Kegiatan Usaha Utama
     Main Business Activities [C.4]

     Berdasarkan Anggaran Dasar, bidang usaha utama Perseroan        In pursuant to the Articles of Association, the Company's
     adalah berusaha dalam bidang industri bahan bakar dan           main business fields are to engage in the industry of fuel
     produk dari pemurnian dan pengilangan minyak bumi,              and products from refining and refining petroleum, procuring
     pengadaan gas alam dan buatan, pertambangan minyak              natural and artificial gas, petroleum mining, wholesale
     bumi, perdagangan besar bahan bakar padat, cair, dan gas        trading of solid, liquid, and gas fuels and products related
     dan produk yang berhubungan dengan itu, industri produk         to that, industrial products from petroleum refineries, as
     dari hasil kilang minyak bumi, serta distribusi gas alam dan    well as natural and artificial gas distribution and supporting
     buatan dan aktivitas penunjang pertambangan minyak bumi         activities for petroleum and other natural gas mining.
     dan gas alam lainnya.

     Atas bidang usaha tersebut, kegiatan usaha utama Perseroan      On these business lines, the Company's main business
     antara lain:                                                       activities include:
     1. Pengolahan bahan bakar gas yang dapat dimanfaatkan           1. Processing of natural gas that can be used directly as
        secara langsung sebagai bahan bakar di mana                     fuel where the manufacture is accompanied by efforts
        pembuatannya disertai usaha peningkatan mutu gas,               to improve the quality of gas, such as refining, mixing
        seperti pemurnian, pencampuran dan proses lainnya               and other processes produced from natural gas (including
        yang dihasilkan dari gas alam (termasuk LPG, propana,           LPG, propane, butane, condensate, methanol, dimethyl
        butana, kondensat, metanol, dimetil eter (DME) dan              ether (DME), and others), carbonation and gasification
        lain-lain), karbonasi dan gasifikasi batu bara, atau bahan      of coal, or other hydrocarbon materials;
        hidrokarbon lain;
     2. Pemurnian dan pengilangan minyak bumi yang                   2. Refining and refining petroleum that produces fuels
        menghasilkan bahan bakar seperti Avigas, Avtur, Gasoline,       such as Avigas, Avtur, Gasoline, Kerosene or Kerosene,
        Minyak Tanah atau Kerosin, Minyak Solar, Minyak Diesel,         Diesel Oil, Diesel Oil, Fuel Oil or Gasoline, Solvent,
        Minyak Bakar atau Bensin, Solvent/Pelarut, termasuk             including LPG and condensate from refined petroleum
        LPG dan kondensat dari hasil pengilangan minyak bumi;           products;
     3. Kegiatan pertambangan minyak bumi mentah termasuk            3. The activities of crude oil mining include efforts to search
        usaha pencarian kandungan minyak bumi, pengeboran,              for petroleum content, drilling, mining, separation and
        penambangan, pemisahan serta penampungan, produksi              storage, production of crude condensate crude oil,
        minyak bumi mentah kondensat, pemrosesan untuk                  processing to produce crude oil by collecting, filtering,
        menghasilkan minyak mentah dengan cara penampungan,             drying, stabilizing, and others. The results of petroleum
        penyaringan, pengeringan, stabilisasi dan lain-lain. Hasil      mining include crude oil or crude oil and condensate.
        pertambangan minyak bumi antara lain minyak mentah              This group also includes mining operations for bituminous
        atau crude oil dan kondensat. Kelompok ini juga mencakup        sand or oil shale and asphalt sand. The mining activities
        usaha operasi penambangan pasir bituminous atau oil             include excavation, drilling, crushing, washing, filtering,
        shale (serpihan minyak) dan pasir aspal. Kegiatan               and mixing as well as collecting. Includes the activity
        pertambangan tersebut meliputi penggalian, pengeboran,          of producing crude oil from oil fragments and bituminous
        penghancuran, pencucian, penyaringan dan pencampuran            sand if related to mining;
        serta penampungan. Termasuk kegiatan produksi minyak
        bumi mentah dari serpihan minyak dan pasir bituminous
        jika terkait dengan pertambangannya;
     4. Perdagangan besar bahan bakar gas, cair, dan padat           4. Wholesale trade in gas, liquid and solid fuels and similar
        serta produk sejenisnya, seperti minyak bumi mentah,            products, such as crude oil, crude oil, diesel fuel, gasoline,
        minyak mentah, bahan bakar diesel, gasoline, bahan              oil fuel, kerosene, premium, diesel, kerosene, coal,
        bakar oli, kerosin, premium, solar, minyak tanah, batu          charcoal, coal, coal rock waste, wood fuel, naphtha and
        bara, arang, batu bara, ampas arang batu, bahan bakar           other fuels including gas fuels, such as LPG, butane and
        kayu, nafta dan bahan bakar lainnya termasuk pula               propane gas, methanol, dimethyl ether and polish oil,
        bahan bakar gas, seperti LPG, gas butana dan propana,           lubricating oil, and other refined petroleum products;
        metanol, dimetil eter dan minyak semir, minyak pelumas
        dan produk minyak bumi lainnya yang telah dimurnikan;




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            KILAS           LAPORAN        PROFIL        ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
            KINERJA         MANAJEMEN      PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
            Performance     Management     Company       Management                     Corporate      Sustainability    Financial
            Overview        Report         Profile       Discussion And Analysis        Governance     Report            Report




5. Industri pengolahan aspal/ter, bitumen dan lilin (dapat         5. Asphalt/tar, bitumen, and wax processing industries
   digunakan untuk lapisan jalan, atap, kayu, kertas dan              (can be used for road, roof, wood, paper, etc.) and
   sebagainya) serta Petroleum Coke. Termasuk industri                Petroleum Coke. Including the product industry for the
   produk untuk industry petrokimia, industri bermacam-               petrochemical industry, various product industries, such
   macam produk, seperti white spirit, vaseline, lilin parafin,       as white spirit, vaseline, paraffin wax, petroleum jelly,
   jeli minyak bumi (petroleum jelly), industri briket minyak         petroleum briquette industry and biofuel mixing, such
   bumi dan pencampuran biofuel, seperti pencampuran                  as mixing alcohol with petroleum (eg gasohol).
   alkohol dengan minyak bumi (misalnya gasohol).

Kegiatan usaha penunjang yaitu:                                    Supporting business activities, namely:
1. Penyaluran gas melalui jaringan yang bertekanan ekstra          1. Gas distribution through extra-high-pressure networks
   tinggi (lebih dari 10 bar); yang bertekanan tinggi (antara         (more than 10 bar); high pressure (between 4 bar to 10
   4 bar s.d. 10 bar); dan yang bertekanan menengah ke                bar); and those with low to medium pressure (under 4
   bawah (di bawah 4 bar) baik berasal dari produksi sendiri          bars), both from their production and the production of
   maupun produksi pihak lain sampai ke konsumen atau                 other parties to consumers or customers. These include
   pelanggan. Termasuk penyaluran, distribusi dan                     the distribution, distribution, and procurement of all
   pengadaan semua jenis bahan bakar gas melalui sistim               types of gas fuels through the pipeline system, gas
   saluran, perdagangan gas kepada konsumen melalui                   trading to consumers through channels, the activities
   saluran, kegiatan agen gas yang melakukan perdagangan              of gas agents conducting gas trading through gas
   gas melalui sistim distribusi gas yang dioperasikan oleh           distribution systems operated by other parties, and the
   pihak lain dan pengoperasian pertukaran komoditas                  operation of commodity exchanges and gas fuel transport
   dan kapasitas pengangkutan bahan bakar gas.                        capacity.

2. Kegiatan jasa penunjang yang berkaitan dengan                   2. Supporting service activities related to oil and gas mining
   pertambangan minyak dan gas bumi yang dilakukan                    carried out on a fee or contract basis, such as exploration
   atas dasar balas jasa (fee) atau kontrak, seperti jasa             services for traditionally extracting oil or gas, namely
   eksplorasi pengambilan minyak atau gas dengan cara                 making geological observations, installing drilling tools,
   tradisional yaitu membuat observasi geologi, pemasangan            repairing and dismantling oil wells cementing and gas
   alat pengeboran, perbaikan dan pembongkaran                        wells, manufacture of wells, pumping of production
   penyemenan sumur minyak dan sumur gas, pembuatan                   wells, blockage, and closure of production wells,
   saluran sumur, pemompaan sumur produksi, penyumbatan               production testing, dismantling, liquefaction and
   dan penutupan sumur produksi, pengujian produksi,                  regasification of natural gas for transportation needs
   dismantling, pencairan dan regasifikasi gas alam untuk             at the mining site, experimental drilling in the context
   kebutuhan transportasi di lokasi pertambangan,                     of refining petroleum and natural gas and lading fire
   pengeboran percobaan dalam rangka penyulingan                      extinguishing services petroleum and natural gas.
   minyak bumi dan gas alam dan jasa pemadam kebakaran
   lading minyak bumi dan gas alam.




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     Sustaining Operational Excellence



     Produk Perseroan
     Products of the Company [C.4]

     1.    LPG (liquified petroleum gas) adalah gas minyak bumi        1.   LPG (liquified petroleum gas) is liquefied petroleum gas
           yang dicairkan yang merupakan campuran dari berbagai             which is a mixture of various hydrocarbon elements
           unsur hidrokarbon yang berasal dari gas bumi, dengan             derived from natural gas, with components dominated
           komponen yang didominasi oleh propana (C3) dan                   by propane (C3) and butane (C4). In Indonesia, LPG is
           butana (C4). Di Indonesia, LPG terutama digunakan                mainly used as kitchen appliance fuel (mainly gas stoves)
           sebagai bahan bakar alat dapur (terutama kompor gas)             for homes, shopping centers, and hotels, motor vehicle
           untuk rumah, pusat perbelanjaan dan perhotelan, bahan            fuel, as well as for construction industries such as steel
           bakar kendaraan bermotor, serta untuk industri konstruksi        workshop as welding fuel.
           seperti steelworkshop sebagai bahan bakar las.

     2. Kondensat adalah senyawa alkana berkarbon lima (C5)            2. Condensate is a five-carbon (C5) or higher alkane
        atau lebih, yang merupakan produk sampingan dari hasil            compound, which is a by-product of the distillation of
        penyulingan gas bumi dalam bentuk cairan. Di pasar                natural gas in liquid form. In the domestic market,
        dalam negeri, kondensat terutama digunakan sebagai                condensate is mainly used as raw material for thinner,
        bahan baku thinner, lem, ban kendaraan. Selain itu,               glue, vehicle tires. Besides, it can be used as light
        dapat digunakan sebagai light naphtha yang merupakan              naphtha which is a cracker material for the manufacture
        bahan pengurai (cracker) untuk pembuatan polyethylene.            of polyethylene.

     3. Amoniak adalah senyawa anorganik yang terdiri dari             3. Ammonia is an inorganic compound consisting of
        unsur Nitrogen dan Hidrogen (NH3) hasil turunan                   elements of Nitrogen and Hydrogen (NH3) derived from
        pengolahan gas bumi. Produk amoniak yang diproduksi               natural gas processing. Ammonia products produced
        oleh PAU dalam bentuk cair, disimpan dalam tangki                 by PAU in liquid form are stored in an atmospheric tank
        atmosfer pada suhu -33 derajat Celcius. Secara umum               at -33 degrees Celsius. In general, ammonia is used as
        amoniak digunakan sebagai bahan baku pembuatan                    a raw material for fertilizer production (accounting for
        pupuk (terhitung ~ 80% dari pasar). Amoniak juga dapat            ~ 80% of the market). Ammonia can also be used as
        digunakan sebagai bahan farmasi, makanan & minuman,               pharmaceutical, food & beverage, textile, industrial &
        tekstil, industri & pembersih rumah tangga, pengolahan            household cleaning, water & wastewater treatment,
        air & air limbah, proses metalurgi, pulp & kertas, kulit,         metallurgical processes, pulp & paper, leather, rubber,
        karet dan lain-lain.                                              and others.




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              KILAS                  LAPORAN      PROFIL          ANALISIS DAN                         TATA KELOLA            LAPORAN             LAPORAN
              KINERJA                MANAJEMEN    PERUSAHAAN      PEMBAHASAN MANAJEMEN                 PERUSAHAAN             KEBERLANJUTAN       KEUANGAN
              Performance            Management   Company         Management                           Corporate              Sustainability      Financial
              Overview               Report       Profile         Discussion And Analysis              Governance             Report              Report




Struktur Organisasi
Organizational Structure




 Board of Commissioners

 President Commissioner & Independent Commissioner : Hamid Awaluddin
 Vice President Commissioner                       : Chander Vinod Laroya                       Audit Committee
 Commissioner                                      : Rahul Puri
 Commissioner                                      : Arif Rachmat
 Independent Commissioner                          : Ida Bagus Rahmadi Supancana



 Board of Directors

 President Director & CEO                         : Kanishk Laroya
 Director & COO                                   : Mukesh Agrawal
 Director & CFO                                   : Prakash Chand Bumb
 Director                                         : Isenta


                                                                                                        Corporate Finance Head



                                                                                                        Finance & Accounting Head



                                                                         Director &                                  Taxation Manager
                                                                Chief Financial Officer (CFO)

                                                                 Prakash Chand Bumb                                  Finance Manager



                                                                                                        Commercial Manager




                                                                                                        Business Development & Project Head



                                                                                                        Business Development Head - Gas



                                                                                                        Legal Manager & Corporate Secretary



                                                                                                        Management Audit Head



                                                                                                        Enterprise Systems & ICT Head


                President Director &
                                                                                                                     Enterprise Systems Manager
            Chief Executive Officer (CEO)

                  Kanishk Laroya                                                                                     ICT Manager



                                                                                                         Human Capital Head




                                                                                                        PLP Plant Manager

                                                                      Director &
                                                             Chief Operating Officer (COO)              Sr. Strategy & Planning Manager - LPG

                                                                  Mukesh Agrawal
                                                                                                        BAP Operations & Site Head



                                                                                                        Procurement Manager - Ammonia



                                                                                                        Sr. Strategy & Planning Lead - Ammonia




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     Sustaining Operational Excellence



     Perubahan Signifikan Tahun 2023
     Significant Changes in 2023 [C.6]

     Pada Tahun 2023, terdapat perubahan signifikan yang          In 2023, there were significant changes that occurred,
     terjadi yaitu perubahan nama Perseroan dari PT Surya Esa     namely the change of the Company's name from PT Surya
     Perkasa Tbk. menjadi PT ESSA Indonesia Industries Tbk.       Esa Perkasa Tbk. to PT ESSA Indonesia Industries Tbk. on
     pada tanggal 9 Oktober 2023. Selain itu, komposisi anggota   9 October 2023. In addition, the composition of the Board
     Dewan Komisaris dan Direksi juga mengalami perubahan         of Commissioners and Board of Directors also changed in
     sesuai dengan keputusan Rapat Umum Pemegang Saham            accordance with the decision of the Extraordinary General
     Luar Biasa (RUPS-LB) tanggal 4 Oktober 2023.                 Meeting of Shareholders (EGMS) on 4 October 2023.




     Daftar Keanggotaan Asosiasi Industri
     Industrial Association Membership [C.5]


        1. Asosiasi Emiten Indonesia (AEI)                        2. Indonesia Corporate Secretary Association (ICSA)
           Indonesian Public Listed Companies Association            Indonesia Corporate Secretary Association (ICSA)




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       PT ESSA Industries Indonesia Tbk.
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           KILAS         LAPORAN      PROFIL       ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
           KINERJA       MANAJEMEN    PERUSAHAAN   PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
           Performance   Management   Company      Management                     Corporate      Sustainability    Financial
           Overview      Report       Profile      Discussion And Analysis        Governance     Report            Report




Perubahan Komposisi
Anggota Dewan Komisaris dan Direksi
Changes in The Composition of The Board
of Commissioners and Board of Directors


Pada tahun 2023, terdapat perubahan komposisi anggota        In 2023, there were changes in the composition of the
Dewan Komisaris dan Direksi Perseroan sesuai dengan          Company’s Board of Commissioners and Board of Directors
keputusan Rapat Umum Pemegang Saham Luar Biasa               in accordance to the resolutions of the Extraordinary General
(RUPS-LB) tanggal 4 Oktober 2023 sebagai berikut:            Meeting of Shareholders on 4 October 2023, as follows:

Komposisi per 1 Januari – 4 Oktober 2023                     Composition as of January 1 – October 4, 2023

Presiden Komisaris dan Komisaris Independen: Hamid           President Commissioner and Independent Commissioner:
Awaluddin                                                    Hamid Awaluddin
Komisaris		             : Rahul Puri                         Commissioner		            : Rahul Puri
Komisaris		             : Arif Rachmat                       Commissioner		            : Arif Rachmat
Komisaris Independen    : Ida Bagus Rahmadi Supancana        Independent Commissioner : Ida Bagus Rahmadi Supancana

Komposisi per 4 Oktober – 31 Desember 2023                   Composition as of October 4 – December 31, 2023
Presiden Komisaris dan                                       President Commissioner and
Komisaris Independen     : Hamid Awaluddin                   Independent Commissioner : Hamid Awaluddin
Wakil Presiden Komisaris : Chander Vinod Laroya              Vice President Commissioner : Chander Vinod Laroya
Komisaris		              : Rahul Puri                        Commissioner		              : Rahul Puri
Komisaris		              : Arif Rachmat                      Commissioner 		             : Arif Rachmat
Komisaris Independen     : Ida Bagus Rahmadi Supancana       Independent Commissioner : Ida Bagus Rahmadi
                                                             				                         Supancana

Setelah akhir tahun buku 2023 hingga penerbitan laporan      After the end of the financial year 2023 until the publishment
ini, tidak terdapat perubahan komposisi anggota Dewan        of this report, there were no changes in the composition of
Komisaris dan Direksi Perseroan.                             the Company’s Board of Commissioners and Board of
                                                             Directors.




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                                                                                         PT ESSA Industries Indonesia Tbk.
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     Sustaining Operational Excellence



     Profil Dewan Komisaris
     Board of Commissioners’ Profile




                                            Hamid Awaluddin
                                            Presiden Komisaris dan Komisaris Independen
                                            President Commissioner and Independent Commissioner




     Warga Negara Indonesia, lahir di Pare-Pare, 61 tahun per Desember        Indonesian citizen, born in Pare-Pare, 61 years old as of December
     2023 dan saat ini berdomisili di Jakarta. Beliau meraih gelar Magister   2023 and currently domiciled in Jakarta. He earned a Master of
     Hukum (LL.M) pada tahun 1990, Magister Hubungan Internasional            Laws (LL.M) in 1990, a Masters in International Relations in 1991,
     pada tahun 1991, dan Ph.D. dari American Univeristy, Washington          and a Ph.D. from American Univeristy, Washington D.C. in 1998.
     D.C. pada tahun 1998. Beliau juga menerima pendidikan kemanusiaan        He also received his humanitarian education from Lund University
     dari Lund University Swedia pada tahun 2001.                             Sweden in 2001.

     Jabatan Presiden Komisaris dan Komisaris Independen Perseroan            He has held the position of President Commissioner and Independent
     diemban beliau sejak 29 Mei 2012 berdasarkan Akta Berita Acara           Commissioner of the Company since 29 May 2012 based on the
     RUPS Tahunan Perseroan No. 36 tanggal 29 Mei 2012 yang dibuat            Deed of Minutes of Annual GMS of the Company No. 36 dated 29
     di hadapan Andalia Farida SH., MH., Notaris di Jakarta. Beliau           May 2012 made before Andalia Farida SH., MH., Notary in Jakarta.
     meneruskan jabatan sebagai Presiden Komisaris dan Komisaris              He continued his position as President Commissioner and
     Independen Perseroan berdasarkan Akta Pernyataan Keputusan               Independent Commissioner of the Company based on the Deed
     Rapat pada RUPSLB Perseroan No. 36 tanggal 4 Oktober 2023                of Meeting Resolution at the Company's EGMS No. 36 dated 4
     yang dibuat di hadapan Jimmy Tanal, S.H., M.Kn., Notaris di Jakarta      October 2023 made before Jimmy Tanal, S.H., M.Kn., Notary in
     dan juga diangkat menjadi Ketua Komite Audit untuk periode               Jakarta and also appointed as Chairman of the Audit Committee
     2023-2028 pada tanggal 2 Mei 2023.                                       for the period 2023-2028 on 2 May 2023.

     Jabatan yang pernah diemban antara lain sebagai:                         Positions that have been held include:
     • Ketua Komite Audit PT ESSA Industries Indonesia Tbk. (Mei              • Chairman of Audit Committee of PT ESSA Industries Indonesia
        2023 – saat ini)                                                          Tbk. (May 2023 – present)
     • Komisaris Independen & Ketua Komite Audit PT Archi Indonesia           • Independent Commissioner & Chairman of the Audit Committee
        Tbk (2021 – saat ini)                                                     of PT Archi Indonesia Tbk (2021 – present)
     • Ketua Bidang Hubungan Internasional Palang Merah Indonesia             • Head of International Relations of the Indonesian Red Cross
        (2019 – 2024)                                                             (2019 – 2024)
     • Presiden Direktur PT Kutai Energi (2017 – saat ini)                    • President Director of PT Kutai Energi (2017 – present)
     • Presiden Direktur PT Adimitra Baratama Nusantara (2014 – saat ini)     • President Director of PT Adimitra Baratama Nusantara (2014 – present)
     • Presiden Komisaris (Independen) PT ESSA Industries Indonesia           • President Commissioner (Independent) of PT ESSA Industries
        Tbk. (2012 – saat ini)                                                    Indonesia Tbk. (2012 – present)
     • Duta Besar Republik Indonesia untuk Rusia (2008 – 2011)                • Ambassador of the Republic of Indonesia to Russia (2008 – 2011)
     • Menteri Hukum dan Hak Asasi Manusia Republik Indonesia                 • Minister of Law and Human Rights of the Republic of Indonesia
        (2004 – 2007)                                                             (2004 – 2007)
     • Presiden Komisaris dan Komisaris Independen PT Delta Dunia             • President Commissioner and Independent Commissioner of
        Makmur Tbk (2011 – saat ini)                                              PT Delta Dunia Makmur Tbk (2011 – present)
     • Anggota Komisi Pemilihan Umum Indonesia (2001 – 2004)                  • Member of Indonesian General Election Commission (2001 –
                                                                                  2004)

     Beliau tidak terafiliasi dengan anggota Dewan Direksi, anggota           He is not affiliated with members of the Board of Directors, members
     Dewan Komisaris, maupun Pemegang Saham Pengendali Perseroan.             of the Board of Commissioners, or Controlling Shareholders of the
                                                                              Company.




        Laporan Tahunan & Laporan Keberlanjutan 2023
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        PT ESSA Industries Indonesia Tbk.
Page 49
             KILAS            LAPORAN         PROFIL          ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
             KINERJA          MANAJEMEN       PERUSAHAAN      PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
             Performance      Management      Company         Management                     Corporate      Sustainability    Financial
             Overview         Report          Profile         Discussion And Analysis        Governance     Report            Report




                                           Chander Vinod Laroya
                                           Wakil Presiden Komisaris
                                           Vice President Commissioner




Warga Negara Indonesia, lahir di Philaur, India, 75 tahun per           Indonesian citizen, born in Philaur, India, on 75 years old as of
Desember 2023 dan saat ini berdomisili di Jakarta. Beliau telah         December 2023, and currently lives in Jakarta. He has worked for
berkarier lebih dari 45 tahun di Indonesia, setelah sebelumnya          more than 45 years in Indonesia, having previously earned a
meraih gelar Bachelor of Science dari Punjab University, India,         Bachelor of Science from Punjab University, India, in 1971, and
pada tahun 1971, dan meraih gelar MBA dari Birla Institute of           earned an MBA from the Birla Institute of Technology, India, in
Technology, India, pada tahun 1973. Beliau diangkat menjadi Wakil       1973. He was appointed as Vice President Commissioner of the
Presiden Komisaris Perseroan sejak Oktober 2023 berdasarkan             Company since October 2023 based on the Deed of Minutes at
Akta Berita Acara pada RUPSLB Perseroan No. 36 tanggal 4 Oktober        the Company's EGMS No. 36 dated 4 October 2023 drawn up
2023 yang dibuat di hadapan Jimmy Tanal, S.H., M.Kn., Notaris di        before Jimmy Tanal, S.H., M.Kn., Notary in Jakarta.
Jakarta.

Jabatan yang pernah diemban antara lain sebagai:                        Positions that have been held, among others, include:

•   Wakil Presiden Komisaris PT ESSA Industries Indonesia Tbk.          •   Vice President Commissioner of PT ESSA Industries Indonesia
    (Oktober 2023-saat ini)                                                 Tbk. (October 2023-present)
•   Presiden Komisaris PT Panca Amara Utama (anak perusahaan            •   President Commissioner of PT Panca Amara Utama (October
    Perseroan) (Oktober 2023 –saat ini)                                     2023-present)
•   Presiden Direktur & CEO PT ESSA Industries Indonesia Tbk.           •   President Director &; CEO of PT ESSA Industries Indonesia
    (2020 – Oktober 2023)                                                   Tbk. (2020 – October 2023)
•   Presiden Direktur & CEO PT Panca Amara Utama (anak                  •   President Director & CEO of PT Panca Amara Utama (a subsidiary
    perusahaan Perseroan) (2018 – Oktober 2023)                             of the Company) (2018 – October 2023)
•   Wakil Presiden Direktur PT ESSA Industries Indonesia Tbk.           •   Vice President Director of PT ESSA Industries Indonesia Tbk.
    (2016 – 2020)                                                           (2016 – 2020)
•   Wakil Presiden Direktur PT Panca Amara Utama (anak perusahaan       •   Vice President Director of PT Panca Amara Utama (a subsidiary
    Perseroan) (2015 – 2018)                                                of the Company) (2015 – 2018)
•   Direktur Eksekutif PT ESSA Industries Indonesia Tbk. (2011 –        •   Executive Director of PT ESSA Industries Indonesia Tbk. (2011
    2016)                                                                   – 2016)
•   Direktur PT Trinugraha Akraya Sejahtera (2011 – saat ini)           •   Director of PT Trinugraha Akraya Sejahtera (2011 – present)
•   Komisaris PT Akraya Clean Energy (2010 – saat ini)                  •   Commissioner of PT Akraya Clean Energy (2010 – present)
•   Presiden Direktur PT Makmur Sejahtera Wisesa (anak perusahaan       •   President Director of PT Makmur Sejahtera Wisesa (a subsidiary
    PT Adaro Energy Tbk.) (2008 – 2009)                                     of PT Adaro Energy Tbk.) (2008 – 2009)
•   Pendiri Akraya Group & Presiden Direktur PT Akraya International    •   Founder of Akraya Group & President Director of PT Akraya
    (2004 – saat ini)                                                       International (2004 – present)
•   CEO & Direktur PT Indorama Synthetics Tbk (1978 – 2004)             •   CEO & Director of PT Indorama Synthetics Tbk (1978 – 2004)

Bapak Chander Vinod Laroya juga merupakan Pemegang Saham                Chander Vinod Laroya is also a direct and indirect shareholder of
tidak langsung Perseroan melalui PT Trinugraha Akraya Sejahtera         the Company through PT Trinugraha Akraya Sejahtera as disclosed
sebagaimana diungkapkan dalam Struktur Grup dan Entitas Anak            in the Group Structure. He is affiliated with member of the Board
Perusahaan. Beliau memiliki hubungan afiliasi dengan anggota            of Commissioners, other member of Board of Directors, and is the
Dewan Komisaris, anggota Direksi lainnya, serta merupakan               Controlling Shareholder of the Company.
Pemegang Saham Pengendali Perseroan.



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     Sustaining Operational Excellence




                                              Rahul Puri
                                              Komisaris
                                              Commissioner




     Warga Negara India, lahir di Hyderabad, India, 57 tahun per Desember   Indian citizen, born in Hyderabad, India, 57 years old as of December
     2023 dan saat ini berdomisili di Jakarta. Beliau telah menghabiskan    2023 and currently domiciled in Jakarta. He has spent more than
     lebih dari 23 tahun bekerja di Indonesia. Setelah sebelumnya meraih    23 years working in Indonesia. Having previously earned a Bachelor
     gelar Bachelor of Commerce dari Universitas Bombay, India pada         of Commerce degree from Bombay University, India in 1986 and
     tahun 1986 dan merupakan Chartered Akuntan yang berkualitas            a qualified Chartered Accountant from the Institute of Chartered
     dari Institute of Chartered Accountants India pada tahun 1989.         Accountants India in 1989. He has held his position as Commissioner
     Jabatan sebagai Komisaris Perseroan beliau emban sejak Oktober         of the Company since October 2011 and continues his position as
     2011 dan meneruskan jabatan sebagai Komisaris Perseroan                Commissioner of the Company based on the Deed of Minutes at
     berdasarkan Akta Berita Acara pada RUPSLB Perseroan No. 36             the Company's EGMS No. 36 dated 4 October 2023 drawn up
     tanggal 4 Oktober 2023 yang dibuat di hadapan Jimmy Tanal, S.H.,       before Jimmy Tanal, S.H., M.Kn., Notary in Jakarta..
     M.Kn., Notaris di Jakarta.

     Jabatan yang pernah diemban antara lain sebagai:                       Positions that have been held include:
     • Komisaris PT Panca Amara Utama (Oktober 2023 – saat ini)             • Commissioner of PT Panca Amara Utama (October 2023 - present)
     • Presiden Komisaris PT ESSA Chemicals Indonesia, d.h. PT              • President Commissioner of PT ESSA Chemicals Indonesia,
        Sepchem (Oktober 2023– saat ini)                                        formerly PT Sepchem (October 2023– present)
     • Presiden Komisaris PT Panca Amara Utama (April 2022 –                • President Commissioner of PT Panca Amara Utama (April 2022
        Oktober 2023)                                                           – October 2023)
     • Komisaris PT Panca Amara Utama (2012 – April 2022)                   • Commissioner of PT Panca Amara Utama (2012 – April 2022)
     • Komisaris PT ESSA Industries Indonesia Tbk. (2011 – saat ini)        • Commissioner of PT ESSA Industries Indonesia Tbk. (2011 – present)
     • Komisaris PT ESSA Chemicals Indonesia (2011– Oktober 2023)           • Commissioner of PT ESSA Chemicals Indonesia (2011– October
                                                                                2023)
     •    Direktur PT Akraya Clean Energy (2010 – saat ini)                 • Director of PT Akraya Clean Energy (2010 – present)
     •    Direktur PT Puri Akraya Engineering (2009 – saat ini)             • Director of Puri Akraya Engineering Limited (2009 – present)
     •    Direktur Keuangan PT Makmur Sejahtera Wisesa (anak                • Finance Director of PT Makmur Sejahtera Wisesa (a subsidiary
          perusahaan PT Adaro Energy Tbk.) (2008 – 2009)                        of PT Adaro Energy Tbk.) (2008 – 2009)
     •    Direktur PT Akraya International (2007 – saat ini)                • Director of PT Akraya International (2007 – present)
     •    Business Head Shanfari Readymix & Crusher LLC, Muscat,            • Business Head Shanfari Readymix & Crusher LLC, Muscat,
          Sultanate of Oman (2006 – 2007)                                       Sultanate of Oman (2006 – 2007)
     •    Business Head Spun Yarns di PT Indorama Synthetics Tbk.           • Business Head – Spun Yarns of PT Indorama Synthetics Tbk.
          (2001 – 2006)                                                         (2001 – 2006)
     •    Direktur dan Manajer Umum ISIN Lanka Private Limited, Colombo.    • Director and General Manager of ISIN Lanka Private Limited,
          Sri Lanka (1996 – 2001)                                               Colombo, Sri Lanka (1996 – 2001)
     •    Manajer Senior Pengembangan Bisnis PT Indorama Synthetics         • Senior Manager – Business Development of PT Indorama
          Tbk. (1994 – 1996)                                                    Synthetics Tbk. (1994 – 1996)
     •    Presiden Trambak Rubber Industries Limited, Nashik, India         • President of Trambak Rubber Industries Limited, Nashik, India
          (1991 – 1994)                                                         (1991 – 1994)

     Beliau memiliki hubungan afiliasi dengan Pemegang Saham                He has an affiliation with the Controlling Shareholder of the Company
     Pengendali Perseroan.




         Laporan Tahunan & Laporan Keberlanjutan 2023
50       2023 Annual Report & Sustainability Report
         PT ESSA Industries Indonesia Tbk.
Page 51
              KILAS            LAPORAN          PROFIL          ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
              KINERJA          MANAJEMEN        PERUSAHAAN      PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
              Performance      Management       Company         Management                     Corporate      Sustainability    Financial
              Overview         Report           Profile         Discussion And Analysis        Governance     Report            Report




                                                Arif Rachmat
                                                Komisaris
                                                Commissioner




Warga Negara Indonesia, lahir di Jakarta, 48 tahun per Desember           Indonesian citizen, born in Jakarta, 48 years old as of December
2023 dan saat ini berdomisili di Jakarta. Beliau meraih gelar Bachelor    2023 and currently domiciled in Jakarta. He earned a Bachelor's
dan Magister of Science Riset Operasi dan Teknik Industri di Cornell      degree and a Master of Science in Operations Research and
University, Ithaca, New York pada Tahun 1998. Jabatan sebagai             Industrial Engineering at Cornell University, Ithaca, New York in
Komisaris Perseroan beliau emban sejak Maret 2022 dan meneruskan          1998. He has held his position as Commissioner of the Company
jabatan sebagai Komisaris Perseroan berdasarkan Akta Berita               since March 2022 and continues his position as Commissioner of
Acara pada RUPSLB Perseroan No. 36 tanggal 4 Oktober 2023                 the Company based on Deed of Minutes at the Company's EGMS
yang dibuat di hadapan Jimmy Tanal, S.H., M.Kn., Notaris di Jakarta.      No. 36 dated 4 October 2023 made before Jimmy Tanal, S.H.,
                                                                          M.Kn., Notary in Jakarta.

Jabatan yang pernah diemban antara lain sebagai:                          Positions that have been held include:

•   Komisaris di PT ESSA Industries Indonesia Tbk. (Maret 2022            •   Commissioner of PT ESSA Industries Indonesia Tbk. (March
    – saat ini)                                                               2022 – present)
•   Presiden Komisaris di PT. Autopedia Sukses Lestari Tbk (2021          •   President Commissioner of PT. Autopedia Sukses Lestari Tbk
    – saat ini)                                                               (2021 – present)
•   Presiden Komisaris di PT. Triputra Agro Persada Tbk. (2021 –          •   President Commissioner of PT. Triputra Agro Persada Tbk.
    saat ini)                                                                 (2021 – present)
•   Komisioner di PT. Gema Wahana Jaya (2020 – saat ini)                  •   Commissioner at PT. Gema Wahana Jaya (2020 – present)
•   Komisioner di PT. Triple A Jaya (2020 – saat ini)                     •   Commissioner at PT. Triple A Jaya (2020 – present)
•   Komisioner di PT. Tri Persada Raya (2018 – saat ini)                  •   Commissioner at PT. Tri Persada Raya (2018 – present)
•   Direktur di PT. Dharma Inti Anugerah (2018 – saat ini)                •   Director at PT. Dharma Inti Anugerah (2018 – current ini)
•   Komisaris di PT. Kirana Megatara Tbk (2017 – saat ini)                •   Commissioner of PT. Kirana Megatara Tbk (2017 – present)
•   Komisaris di PT. Dharma Satya Nusantara Tbk (2017 – saat ini)         •   Commissioner of PT. Dharma Satya Nusantara Tbk (2017 – present)
•   Komisioner di PT. Sumber Energi Pangan (2017 – saat ini)              •   Commissioner at PT. Food Energy Sources (2017 – present)
•   Komisioner di PT. Adi Bumi Jaya (2017 – saat ini)                     •   Commissioner at PT. Adi Bumi Jaya (2017 – present)
•   Komisioner di PT. Tridaya Hita Sentosa (2016 – saat ini)              •   Commissioner at PT. Tridaya Hita Sentosa (2016 – present)
•   Direktur di PT. Triputra Permata Nusantara (2016 – saat ini)          •   Director at PT. Triputra Permata Nusantara (2016 – present)
•   Direktur di PT. Trikirana Investindo Prima (2010 – saat ini)          •   Director at PT. Trikirana Investindo Prima (20 10 – present)
•   Direktur di PT. Triputra Investindo Arya (2008 – saat ini)            •   Director at PT. Triputra Investindo Arya (2008 – present)
•   Co-founder dan Direktur, Komisioner, Presiden Direktur, serta         •   Co-founder and Director, Commissioner, President Director, and
    Executive Chairman di PT. Triputra Agro Persada (2008 – 2021)             Executive Chairman of PT. Triputra Agro Persada (2008 – 2021)
•   Presiden Direktur di PT. Triputra Persada Rachmat (2007 – saat        •   President Director at PT. Triputra Persada Rachmat (2007 –
    ini)                                                                      present)
•   Direktur di PT. Triputra Permata Rachmat (2007 – saat ini)            •   Director at PT. Triputra Permata Rachmat (2007 – present)
•   Corporate Audit di General Electric Company (2003 – 2005)             •   Corporate Audit at General Electric Company (2003 – 2005)
•   Manajer Operasi & Fasilitas di Euclid Lamp Plant, General             •   Operations & Facilities Manager at Euclid Lamp Plant, General
    Electric Company (2001 – 2003)                                            Electric Company (2001 – 2003)
•   Six Sigma Black Belt Quality Initiative di General Electric           •   Six Sigma Black Belt Quality Initiative at General Electric
    Company (2000 – 2001)                                                     Company (2000 – 2001)
•   Operation Management Leadership Program (OMLP) di General             •   Operation Management Leadership Program (OMLP) at General
    Electric Company (1998 – 2000)                                            Electric Company (1998 – 2000)



                                                                                          Laporan Tahunan & Laporan Keberlanjutan 2023
                                                                                               2023 Annual Report & Sustainability Report
                                                                                                                                                51
                                                                                                      PT ESSA Industries Indonesia Tbk.
Page 52
     Sustaining Operational Excellence




                                             Prof. Dr. Ida Bagus Rahmadi Supancana
                                             Komisaris Independen
                                             Independent Commissioner




     Warga Negara Indonesia, lahir di Bandung, 65 tahun per Desember         Indonesian citizen, born in Bandung, 65 years old as of December
     2023 dan saat ini berdomisili di Jakarta. Beliau meraih gelar Sarjana   2023 and currently domiciled in Jakarta. He earned his Bachelor
     Hukum dari Universitas Padjadjaran, Bandung pada tahun 1983,            of Laws degree from Padjadjaran University, Bandung in 1983,
     Magister Hukum Universitas Indonesia pada tahun 1990 dan meraih         Master of Law from University of Indonesia in 1990 and earned his
     gelar Doktor Legal Sciences-Air and Space Law dari Leiden               Doctorate in Legal Sciences-Air and Space Law from Leiden
     University, Netherlands pada tahun 1998. Jabatan sebagai Komisaris      University, Netherlands in 1998. He has held his position as
     Independen Perseroan beliau emban sejak Oktober 2011 dan Beliau         Independent Commissioner of the Company since October 2011
     meneruskan jabatan sebagai Komisaris Independen Perseroan               and he continues his position as Independent Commissioner of
     berdasarkan Akta Berita Acara pada RUPSLB Perseroan No. 36              the Company based on Deed of Minutes at the Company's EGMS
     tanggal 4 Oktober 2023 yang dibuat di hadapan Jimmy Tanal, S.H.,        No. 36 dated 4 October 2023 made before Jimmy Tanal, S.H.,
     M.Kn., Notaris di Jakarta.                                              M.Kn., Notary in Jakarta.

     Jabatan yang pernah diemban antara lain sebagai:                        Positions that have been held include:
     • Pendiri Asosiasi Profesional Privasi Data Indonesia (2020 – saat      • Founder of Indonesian Association of Data Privacy Professionals
        ini)                                                                     (2020 – present)
     • Pendiri dan Ketua Dewan Penasehat Bali International Arbitration      • Founder and Chairman of the Advisory Board of Bali International
        and Mediation Center (2017 – saat ini)                                   Arbitration and Mediation Center (2017 – present)
     • Penasehat Senior Schinder Law Firm (2016 – saat ini)                  • Senior Advisor to Schinder Law Firm (2016–present)
     • Ketua Komite Audit PT ESSA Industries Indonesia Tbk. (2012            • Chairman of Audit Committee of PT ESSA Industries Indonesia
        – April 2023)                                                            Tbk. (2012 – October 2023)
     • Komisaris Independen PT ESSA Chemicals Indonesia (2011 –              • Independent Commissioner of PT ESSA Chemicals Indonesia
        saat ini)                                                                (2011 – present)
     • Guru Besar Fakultas Hukum Universitas Atma Jaya, Jakarta              • Professor of Faculty of Law, Atma Jaya University, Jakarta
        (2008 – saat ini)                                                        (2008 – present)
     • Komisaris Utama PT Indo Citra Regulatama (2001 – saat ini)            • President Commissioner of PT Indo Citra Regulatama (2001
                                                                                 – present)
     •    Ketua/Pendiri Center for Regulatory Research (2001 – saat ini)     • Chairman/Founder of the Center for Regulatory Research (2001
                                                                                 – present)
     •    Direktur Utama PT Wahana Baratama Mining (2000 – 2003)             • President Director of PT Wahana Baratama Mining (2000 –
                                                                                 2003)
     •    Komisaris PT Tanjung Alam Jaya (2000 – 2003)                       • Commissioner of PT Tanjung Alam Jaya (2000 – 2003)
     •    Direktur Utama PT Ramatelindo Perdana Consultant (1993 –           • President Director of PT Ramatelindo Perdana Consultant
          2006)                                                                  (1993 – 2006)
     •    Direktur PT Duta Krishna Telebuana (1993 – 1997)                   • Director of PT Duta Krishna Telebuana (1993 – 1997)

     Beliau tidak memiliki hubungan afiliasi dengan dengan Pemegang           He has no affiliation with the Controlling Shareholder of the
     Saham Pengendali Perseroan, serta menyatakan independensi               Company, and declared independence prior to his reappointment
     sebelum pengangkatan kembali sebagai Komisaris Independen               as Independent Commissioner at the GMS.
     dalam RUPS.




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         PT ESSA Industries Indonesia Tbk.
Page 53
             KILAS            LAPORAN        PROFIL         ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
             KINERJA          MANAJEMEN      PERUSAHAAN     PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
             Performance      Management     Company        Management                     Corporate      Sustainability    Financial
             Overview         Report         Profile        Discussion And Analysis        Governance     Report            Report




Profil Direksi
Board of Directors’ Profile




                                          Kanishk Laroya
                                          Presiden Direktur & CEO
                                          President Director & CEO




Warga Negara Indonesia, lahir di Bandung, 36 tahun per Desember       Indonesian citizen, born in Bandung, 36 years old as of December
2023 dan saat ini berdomisili di Jakarta. Beliau memperoleh gelar     2023, and currently lives in Jakarta. He earned his Bachelor of
Bachelor of Science in Finance and Entrepreneurship dari Carnegie     Science in Finance and Entrepreneurship from Carnegie Mellon
Mellon University USA pada Tahun 2008. Beliau diangkat menjadi        University USA in 2008. He was appointed as President Director
Presiden Direktur Perseroan berdasarkan Akta Berita Acara pada        of the Company based on the Deed of Minutes at the Company's
RUPSLB Perseroan No. 36 tanggal 4 Oktober 2023 yang dibuat di         EGMS No. 36 dated 4 October 2023 drawn up before Jimmy Tanal,
hadapan Jimmy Tanal, S.H., M.Kn., Notaris di Jakarta.                 S.H., M.Kn., Notary in Jakarta.

Jabatan yang pernah diemban antara lain sebagai:                      Positions that have been held, among others, include:
• Presiden Direktur & CEO PT ESSA Industries Indonesia Tbk.           • President Director & CEO of PT ESSA Industries Indonesia Tbk.
   (Oktober 2023-saat ini)                                                (October 2023-present)
• Presiden Direktur & CEO PT Panca Amara Utama (Oktober               • President Director & CEO of PT Panca Amara Utama (October
   2023-saat ini)                                                         2023-present)
• Presiden Direktur PT ESSA Chemicals Indonesia (d.h PT Sepchem)      • President Director of PT ESSA Chemicals Indonesia (previously
   (Desember 2022 – saat ini)                                             PT Sepchem) (December 2022 – present)
• Wakil Presiden Direktur & Deputy CEO PT ESSA Industries             • Vice President Director & Deputy CEO of PT ESSA Industries
   Indonesia Tbk. (Maret 2022 – Oktober 2023)                             Indonesia Tbk. (March 2022 – October 2023)
• Wakil Presiden Direktur & Deputy CEO PT Panca Amara Utama           • Vice President Director & Deputy CEO of PT Panca Amara
   (2018 – Oktober 2023)                                                  Utama (2018 – October 2023)
• Direktur & Deputy CEO PT ESSA Industries Indonesia Tbk.             • Director & Deputy CEO of PT ESSA Industries Indonesia Tbk.
   (2020 – Maret 2022)                                                    (2020 – March 2022)
• Vice President Business Development PT ESSA Industries              • Vice President Business Development of PT ESSA Industries
   Indonesia Tbk. (2018 – 2020)                                           Indonesia Tbk. (2018 – 2020)
• Direktur & Chief Project Officer PT Panca Amara Utama (2016         • Director & Chief Project Officer of PT Panca Amara Utama
   – 2018)                                                                (2016 – 2018)
• Direktur PT Ogspiras Basya Pratama (2015 – saat ini)                • Director of PT Ogspiras Basya Pratama (2015 – present)
• Vice President Corporate Affairs & Investor Relations PT ESSA       • Vice President Corporate Affairs & Investor Relations of PT
   Industries Indonesia Tbk. (2014 – 2018)                                ESSA Industries Indonesia Tbk. (2014 – 2018)
• Manajer Umum untuk Pengembangan Bisnis PT Panca Amara               • General Manager for Business Development of PT Panca
   Utama (2014 – 2015)                                                    Amara Utama (2014 – 2015)
• Head of Investor Relations & Corporate Secretary PT ESSA            • Head of Investor Relations & Corporate Secretary of PT ESSA
   Industries Indonesia Tbk. (2012 – 2014)                                Industries Indonesia Tbk. (2012 – 2014)
• Direktur PT Akraya International (2008 – saat ini)                  • Director of PT Akraya International (2008 – present)

Beliau memiliki hubungan afiliasi dengan anggota Dewan Komisaris,      He is affiliated with member of the Board of Commissioners, other
anggota Direksi lainnya, serta dengan Pemegang Saham Pengendali       member of the Board of Directors, as well as with the Controlling
Perseroan. Saat ini beliau juga menjabat sebagai Presiden Direktur    Shareholders of the Company. Currently, he serves as President
& CEO PT Panca Amara Utama, yang merupakan entitas anak               Director & CEO of PT Panca Amara Utama, which is a subsidiary
Perseroan.                                                            of the Company.




                                                                                      Laporan Tahunan & Laporan Keberlanjutan 2023
                                                                                           2023 Annual Report & Sustainability Report
                                                                                                                                          53
                                                                                                  PT ESSA Industries Indonesia Tbk.
Page 54
     Sustaining Operational Excellence




                                                          Mukesh Agrawal
                                                          Direktur & COO
                                                          Director & COO




     Warga Negara India, lahir di Hardwar, India, 54 tahun per Desember       Indian citizen, born in Hardwar, India, 54 years old as of December
     2023 dan saat ini berdomisili di Jakarta. Beliau meraih gelar Magister   2023 and currently domiciled in Jakarta. He earned a Master of
     Science di bidang Fisika dari Indian Institute of Technology, Roorkee,   Science degree in Physics from the Indian Institute of Technology,
     India pada Tahun 1990 dan Magister Teknik Instrumentasi dari             Roorkee, India in 1990 and a Masters in Instrumentation Engineering
     National Institute of Technology, Kurukshetra, India, pada Tahun         from the National Institute of Technology, Kurukshetra, India, in
     1992. Jabatan sebagai Direktur beliau emban sejak Tahun 2011             1992. He has held his position as Director since 2011 and he
     dan Beliau meneruskan jabatan sebagai Direktur Perseroan                 continues his position as Director of the Company based on the
     berdasarkan Akta Berita Acara pada RUPSLB Perseroan No. 36               Deed of Minutes at the Company's EGMS No. 36 dated 4 October
     tanggal 4 Oktober 2023 yang dibuat di hadapan Jimmy Tanal, S.H.,         2023 made before Jimmy Tanal, S.H., M.Kn., Notary in Jakarta.
     M.Kn., Notaris di Jakarta.


     Jabatan yang pernah diemban antara lain sebagai:                         Positions that have been held include:
     • Direktur & Chief Operating Officer PT ESSA Industries Indonesia        • Director & Chief Operating Officer of PT ESSA Industries
        Tbk. (2020 – saat ini)                                                    Indonesia Tbk. (2020 – present)
     • Direktur & Chief Operating Officer PT Panca Amara Utama                • Director & Chief Operating Officer of PT Panca Amara Utama
        (2020 – saat ini)                                                         (2020 – present)
     • Direktur Teknik PT ESSA Industries Indonesia Tbk. (2011 – 2020)        • Technical Director of PT ESSA Industries Indonesia Tbk. (2011 – 2020)
     • Technical Advisor PT ESSA Industries Indonesia Tbk. (2010              • Technical Advisor of PT ESSA Industries Indonesia Tbk. (2010
        – 2011)                                                                   – 2011)
     • General Manager, Engineering & Projects di PT Indorama                 • General Manager, Engineering & Projects at PT Indorama
        Synthetics Tbk. (2002 – 2010)                                             Synthetics Tbk. (2002 – 2010)
     • Chief Engineer di PT Indorama Technology (1997 – 2002)                 • Chief Engineer at PT Indorama Technology (1997 – 2002)
     • Deputy Chief Engineer di Grasim, Gwalior, India (1993 – 1997)          • Deputy Chief Engineer in Grasim, Gwalior, India (1993 – 1997)




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        PT ESSA Industries Indonesia Tbk.
Page 55
             KILAS            LAPORAN          PROFIL         ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
             KINERJA          MANAJEMEN        PERUSAHAAN     PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
             Performance      Management       Company        Management                     Corporate      Sustainability    Financial
             Overview         Report           Profile        Discussion And Analysis        Governance     Report            Report




                                           Prakash Chand Bumb
                                           Direktur & CFO
                                           Director & CFO




Warga Negara India, lahir di Jaipur Rajasthan, India, 60 tahun per      Indian citizen, born in Jaipur Rajasthan, India, 60 years old as of
Desember 2023 dan saat ini berdomisili di Jakarta. Beliau               December 2023 and currently domiciled in Jakarta. He earned
mendapatkan gelar Sarjana Commerce dari University of Rajasthan,        his Bachelor degree in Commerce from the University of Rajasthan,
India pada Tahun 1983, Chartered Accountant dari Institute of           India in 1983, Chartered Accountant from Institute of Chartered
Chartered Accountants of India pada Tahun 1985 serta Cost               Accountants of India in 1985 and Cost Accountant from Institute
Accountant dari Institute of Cost Accountants, India pada Tahun         of Cost Accountants, India in 1986. Appointed as Vice President
1986. Menjabat sebagai Vice President Finance sejak Tahun 2013          Finance since 2013 and appointed as Director of the Company on
dan diangkat menjadi Direktur Perseroan pada tanggal 16 Maret           16 March 2022. He continued his position based on the Deed of
2022. Beliau meneruskan jabatan tersebut berdasarkan Akta Berita        Minutes at the Company's EGMS No. 36 dated 4 October 2023
Acara pada RUPSLB Perseroan No. 36 tanggal 4 Oktober 2023               made before Jimmy Tanal, S.H., M.Kn., Notary in Jakarta.
yang dibuat di hadapan Jimmy Tanal, S.H., M.Kn., Notaris di Jakarta.

Jabatan yang pernah diemban antara lain sebagai:                        Positions that have been held include:
• Komisaris di PT ESSA Chemicals Indonesia (Oktober 2023 –              • Commissioner of PT ESSA Chemicals Indonesia (October 2023
   saat ini)                                                                – present)
• Direktur & CFO PT ESSA Industries Indonesia Tbk. (Maret 2022          • Director & CFO of PT ESSA Industries Indonesia Tbk. (March
   – saat ini)                                                              2022 – present)
• Direktur di PT Panca Amara Utama (2016 – saat ini)                    • Director of PT Panca Amara Utama (2016 – present)
• Vice President Finance di PT ESSA Industries Indonesia Tbk.           • Vice President Finance at PT ESSA Industries Indonesia Tbk.
   (2013 – Maret 2022)                                                      (2013 – March 2022)
• Senior Executive Vice President di Reliance Communications            • Senior Executive Vice President at Reliance Communications
   Ltd., India (2008 – 2013)                                                Ltd., India (2008 – 2013)
• General Manager Commercial di PT Indorama Synthetics Tbk.,            • General Manager Commercial at PT Indorama Synthetics Tbk.,
   Indonesia (1995 – 2008)                                                  Indonesia (1995 – 2008)
• CFO di Mercury Laboratories Ltd., Baroda, India (1992 – 1995)         • CFO at Mercury Laboratories Ltd., Baroda, India (1992 – 1995)
• Finance Controller di Asea Brown Boveri Ltd (ABB), Baroda,            • Finance Controller at Asea Brown Boveri Ltd (ABB), Baroda,
   India (1990 – 1992)                                                      India (1990 – 1992)
• Sr. Accounts Officer di National Engineering Industries Ltd.,         • Sr. Accounts Officer at National Engineering Industries Ltd.,
   Jaipur, India (1986 – 1989)                                              Jaipur, India (1986 – 1989)




                                                                                        Laporan Tahunan & Laporan Keberlanjutan 2023
                                                                                             2023 Annual Report & Sustainability Report
                                                                                                                                              55
                                                                                                    PT ESSA Industries Indonesia Tbk.
Page 56
     Sustaining Operational Excellence




                                                Isenta
                                                Direktur
                                                Director




     Warga Negara Indonesia, lahir di Malang, 53 tahun per Desember           Indonesian citizen, born in Malang, 53 years old as of December
     2023 dan saat ini berdomisili di Jakarta. Beliau meraih gelar Bachelor   2023, and currently lives in Jakarta. He earned his Bachelor of
     of Science dari Oklahoma State University, AS, pada Tahun 1992,          Science degree from Oklahoma State University, USA, in 1992,
     kemudian beliau mendapat gelar MBA dari Oklahoma State University        then he earned an MBA from Oklahoma State University in 1994.
     pada Tahun 1994. Menjabat sebagai Direktur Perseroan sejak Mei           He has served as Director of the Company since May 2006 and
     2006 dan dan meneruskan jabatan tersebut berdasarkan Akta                continue the position based on the Deed of Minutes at the Company's
     Berita Acara pada RUPSLB Perseroan No. 36 tanggal 4 Oktober              EGMS No. 36 dated 4 October 2023 made before Jimmy Tanal,
     2023 yang dibuat di hadapan Jimmy Tanal, S.H., M.Kn., Notaris di         S.H., M.Kn., Notary in Jakarta.
     Jakarta.

     Jabatan yang pernah diemban antara lain sebagai:                         Positions that have been held, among others, include:
     • Presiden Komisaris PT Ogspiras Basya Pratama (Mei 2022 –               • President Commissioner of PT Ogspiras Basya Pratama (May
        saat ini)                                                                 2022 – present)
     • Direktur PT Panca Amara Utama (2012 – saat ini)                        • Director of PT Panca Amara Utama (2012 – present)
     • Direktur PT ESSA Chemicals Indonesia (d.h. PT Sepchem) (2011           • Director of PT ESSA Chemicals Indonesia (formerly PT Sepchem)
        – saat ini)                                                               (2011 – present)
     • Direktur PT ESSA Industries Indonesia Tbk. (2006 – saat ini)           • Director of PT ESSA Industries Indonesia Tbk. (2006 – present)
     • Direktur PT Northstar Pacific Investments (2006 – 2011)                • Director of PT Northstar Pacific Investments (2006 – 2011)
     • Komisaris di PT Northstar Pacific Capital (2003 – saat ini)             • Commissioner at PT Northstar Pacific Capital (2003 – present)
     • Senior Manager Corporate Finance and Investment Banking                • Senior Manager Corporate Finance and Investment Banking
        di PT Pricewaterhouse Coopers Indonesia (2001 – 2004)                     at PT Pricewaterhouse Coopers Indonesia (2001 – 2004)
     • Perbankan Investasi (1996 – 2001)                                      • Investment Banking (1996 – 2001)
     • Associate Director, Investment Banking di PT Bahana Securities         • Associate Director, Investment Banking at PT Bahana Securities
        (1994 – 1996)                                                             (1994 – 1996)
     • Analis di Deutsche Grenfell Morgan Securities (1994)                   • Analyst at Deutsche Grenfell Morgan Securities (1994)




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        PT ESSA Industries Indonesia Tbk.
Page 57
           KILAS           LAPORAN         PROFIL        ANALISIS DAN                   TATA KELOLA      LAPORAN               LAPORAN
           KINERJA         MANAJEMEN       PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN       KEBERLANJUTAN         KEUANGAN
           Performance     Management      Company       Management                     Corporate        Sustainability        Financial
           Overview        Report          Profile       Discussion And Analysis        Governance       Report                Report




Pernyataan Independensi Komisaris Independen
Independent Statement of Independent Commissioners

Sesuai dengan yang disampaikan dalam sub bagian Profil             Following the sub-section of the Board of Commissioners
Dewan Komisaris, para anggota Dewan Komisaris yang                 Profile, members of the Board of Commissioners that fall
masuk dalam kategori Komisaris Independen telah                    into the Independent Commissioner category have declared
menyatakan independensinya.                                        their independence.




Sumber Daya Manusia
Human Resources
Sumber Daya Manusia (SDM) merupakan aset yang berharga             The Company’s Human Resources (HR) is an asset and key
dan merupakan kunci dari pencapaian kinerja keuangan               to achieving the Company's financial and operational
dan operasional Perseroan. Untuk itu Perseroan memandang           performance. As such, the Company views that HR
pengembangan SDM dilakukan secara konsisten melalui                development is carried out consistently through various
berbagai program, di antaranya adalah pengembangan,                programs, including development, education, and training
pendidikan dan pelatihan serta fasilitas kesejahteraan             as well as employee welfare facilities to create professional,
karyawan untuk menciptakan karyawan yang profesional,              reliable, committed, and experienced employees who are
handal, berkomitmen dan berpengalaman untuk siap                   ready to face regional and global competition. The Company
menghadapi persaingan regional maupun global. Perseroan            also supports the aspect of opening job opportunities, so
juga mendukung aspek terbukanya kesempatan kerja,                  that a career development system always promotes equal
sehingga sistem pengembangan karier yang mengedepankan             rights and opportunities for all employees.
persamaan hak dan kesempatan bagi seluruh karyawan.

STRATEGI PENGEMBANGAN SDM                                          HR DEVELOPMENT STRATEGY

Perseroan senantiasa mendorong karyawan agar selalu                The Company has always encouraged employees to always
dalam kondisi terbaik dalam menyelesaikan seluruh tugas            be in the best condition in completing all their duties and
dan tanggung jawabnya. Untuk menjaga kompetensi yang               responsibilities. To maintain sufficient competence in carrying
cukup dalam mengerjakan tugas dan tanggung jawab pada              out the duties and responsibilities of each work unit, training
masing-masing unit kerja, pelatihan dan pengembangan               and development are carried out in a directed and measured
dilakukan secara terarah dan terukur, serta seiring dengan         manner, and in line with the needs of the Company's
kebutuhan kegiatan operasional Perseroan. Pelatihan yang           operational activities. The training carried out in 2023
dilaksanakan pada Tahun 2023 meliputi:                             includes:


                                                                                                                           DURASI WAKTU
                   NAMA                                                                                                    PELAKSANAAN
                PELATIHAN &        KOMPETENSI   PENYELENGGARA                          TEMPAT           TANGGAL                (MENIT)
                                                                      JUMLAH
    NO.       PENGEMBANGAN                                                           PELAKSANAA       PELAKSANAAN           DURATION OF
                                   COMPETENCE        PROVIDER       PARTICIPANT
             NAME OF TRAINING                                                           VENUE             DATE            IMPLEMENTATION
              & DEVELOPMENT                                                                                               TIME (MINUTERS) /
                                                                                                                              (HOURS)

                                   PAU (Panca Amara Utama) & BAP (Banggai Ammonia Plant)

     1      Pembinaan K3           Technical    PT Waterland             15              BAP          31 Jan - 4 Feb         48.00.00
            Tenaga Kerja Pada                   Nusantara
            Ketinggian Tingkat 1
            (TKPK-1) - Batch 1
     2      Pembinaan K3           Technical    PT Waterland             16              BAP          6 Feb - 11 Feb         48.00.00
            Tenaga Kerja Pada                   Nusantara
            Ketinggian Tingkat 1
            (TKPK-1) - Batch 2




                                                                                   Laporan Tahunan & Laporan Keberlanjutan 2023
                                                                                        2023 Annual Report & Sustainability Report
                                                                                                                                              57
                                                                                               PT ESSA Industries Indonesia Tbk.
Page 58
     Sustaining Operational Excellence




                                                                                                               DURASI WAKTU
                      NAMA                                                                                     PELAKSANAAN
                   PELATIHAN &       KOMPETENSI   PENYELENGGARA                     TEMPAT       TANGGAL           (MENIT)
                                                                      JUMLAH
       NO.       PENGEMBANGAN                                                     PELAKSANAA   PELAKSANAAN      DURATION OF
                                     COMPETENCE      PROVIDER       PARTICIPANT
                NAME OF TRAINING                                                     VENUE         DATE       IMPLEMENTATION
                 & DEVELOPMENT                                                                                TIME (MINUTERS) /
                                                                                                                  (HOURS)

        3      Refreshment           Technical    RSO Don Pro            1        BANDUNG       9 Feb - 10       16.00.00
               Sertifikasi Port                                                                    Feb
               Facility Security
               Officer (PFSO)
        4      Scaffolding           Technical    PT Nusantara          15           BAP        23 Jan - 27      40.00.00
               Inspector                          Traisser                                          Jan
        5      Basic Remote Pilot    Technical    PT Lingkar             1         BOGOR       24 Jan - 26       27.00.00
               CASR 107                           Nusa Teknologi                                   Jan
                                                  (NUSADRONE)
        6      Scaffolding           Technical    PT Nusantara          25           BAP        30 Jan - 31      15.00.00
                                                  Traisser                                         Jan
        7      Perhitungan PPH       Technical    Lembaga                1         JAKARTA     22 Feb - 23        13.00.00
               Pasal 21 Terbaru                   Pengembangan                                    Feb
               Terkait Dengan UU                  Kajian Nasional
               HPP
        8      Tingkat Pekerja       Technical    PT Waterland          2            BAP       22 Feb - 28       50.45.00
               Selam Kelas 1                      Nusantara                                        Feb
        9      Training              Technical    PT Benefita           2          ONLINE         12-Apr          8.00.00
               Refreshment                        Indonesia
               Pengelolaan
               Limbah B3 (PLB3)
               - Perpanjangan
               Sertifikasi
        10     Training              Technical    PT Benefita            1         ONLINE        04-May           8.00.00
               Refreshment                        Indonesia
               Penanggung Jawab
               Pengendalian
               Pencemaran Udara
               dari Emisi (PPPU) -
               Perpanjangan
               Sertifikasi
        11     Training              Technical    PT Benefita            1         ONLINE         10-May          8.00.00
               Refreshment                        Indonesia
               Penanggung Jawab
               Pengendalian
               Pencemaran Air
               (PPPA) -
               Perpanjangan
               Sertifikasi
        12     Internal Auditor      Technical    RSO Don Pro            1        BANDUNG       11 May - 12       17.00.00
                                                                                                   May
        13     Human Resources       Technical    PPM                   2          JAKARTA     23 May - 26       34.00.00
               Management                         Manajemen                                       May
        14     Training IMO Oil      Technical    PT OSCT                1           BALI      23 May - 25       24.00.00
               Spill Level 3                      Indonesia                                       May
        15     Ujian Resertifikasi   Technical    PT Benefita           2          JAKARTA       25-May           9.00.00
               Pengelolaan                        Indonesia
               Limbah B3 (PLB3)
        16     Training Balanced     Technical    GML                   4          JAKARTA     29 May - 31       24.00.00
               Score Card                                                                         May




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58    2023 Annual Report & Sustainability Report
      PT ESSA Industries Indonesia Tbk.
Page 59
      KILAS               LAPORAN           PROFIL        ANALISIS DAN                   TATA KELOLA      LAPORAN               LAPORAN
      KINERJA             MANAJEMEN         PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN       KEBERLANJUTAN         KEUANGAN
      Performance         Management        Company       Management                     Corporate        Sustainability        Financial
      Overview            Report            Profile       Discussion And Analysis        Governance       Report                Report




                                                                                                                            DURASI WAKTU
             NAMA                                                                                                           PELAKSANAAN
          PELATIHAN &          KOMPETENSI        PENYELENGGARA                          TEMPAT           TANGGAL                (MENIT)
                                                                       JUMLAH
NO.     PENGEMBANGAN                                                                  PELAKSANAA       PELAKSANAAN           DURATION OF
                               COMPETENCE             PROVIDER       PARTICIPANT
       NAME OF TRAINING                                                                  VENUE             DATE            IMPLEMENTATION
        & DEVELOPMENT                                                                                                      TIME (MINUTERS) /
                                                                                                                               (HOURS)

17    Workshop & Focus         Soft Skill        Ailesh                   10              BAP          4 Jun - 6 Jun          24.00.00
      Group Discussion
      for Green PROPER
      - Batch 1
18    Training Bahasa          Soft Skill        Indonesian With           5             ONLINE        8 Jun - 6 Des          45.00.00
      Indonesia Course                           Restiany
      Basic 1, 2, 3 -
      (Group 1)
19    Training Bahasa          Soft Skill        Indonesian With           5             ONLINE         9 Jun - 30            30.00.00
      Indonesia Course                           Restiany                                                  Nov
      Basic 1, 2 - (Group
      2)
20    Workshop & Focus         Soft Skill        Ailesh                   11              BAP          8 Jun - 10 Jun         24.00.00
      Group Discussion
      for Green PROPER
      - Batch 2
21    Pemahaman Sistem         Technical         PT LabMania               2             BEKASI        7 Jun- 10 Jun          24.00.00
      Manajemen                                  Indonesia Jaya
      Laboratorium
      Sesuai SNI ISO/IEC
      17025:2017
22    Training &               Technical         PT Benefita               2            JAKARTA         12 Jun - 16           37.30.00
      Certification                              Indonesia                                                  Jun
      - Workshop Life
      Cycle Assessment
      - Data Evaluator
23    Basic Remote Pilot       Technical         PT Lingkar                1             BOGOR          12 Jun - 17           54.00.00
      CASR 107                                   Nusa Teknologi                                             Jun
                                                 (NUSADRONE)
24    Training &               Technical         Lembaga                   2            ONLINE          13 Jun - 16           32.00.00
      Sertifikasi Tenaga                         Sertifikasi                                                Jun
      Teknik Bidang                              Kompetensi
      Pembangkit Tenaga                          PPSDM KEBTKE
      Listrik - Batch 1
25    Training Bearing &       Technical         PT SKF                    1            JAKARTA         19 Jun - 22           32.00.00
      Asset Reliability                          Industrial                                                 Jun
      Improvement                                Indonesia
26    Training &               Technical         Patrarijaya              10          YOGYAKARTA        19 Jun - 24           48.00.00
      Sertifikasi K3                             Consultant                                                 Jun
      Operator Boiler
      Kelas 1 - Batch 1
27    Training &               Technical         PT Nusantara              2           SURABAYA         19 Jun - 23           40.00.00
      Certification                              Traisser                                                   Jun
      Scaffolding
      Supervisor
28    Ujian Resertifikasi      Technical         PT Benefita               1            JAKARTA           22-Jun               8.30.00
      Penanggung Jawab                           Indonesia
      Pengendalian
      Pencemaran Udara
      dari Emisi (PPPU)




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                                                                                         2023 Annual Report & Sustainability Report
                                                                                                                                               59
                                                                                                PT ESSA Industries Indonesia Tbk.
Page 60
     Sustaining Operational Excellence




                                                                                                                   DURASI WAKTU
                      NAMA                                                                                         PELAKSANAAN
                   PELATIHAN &         KOMPETENSI   PENYELENGGARA                    TEMPAT       TANGGAL              (MENIT)
                                                                       JUMLAH
       NO.       PENGEMBANGAN                                                      PELAKSANAA   PELAKSANAAN         DURATION OF
                                       COMPETENCE      PROVIDER      PARTICIPANT
                NAME OF TRAINING                                                      VENUE         DATE          IMPLEMENTATION
                 & DEVELOPMENT                                                                                    TIME (MINUTERS) /
                                                                                                                      (HOURS)

       29      Ujian Resertifikasi     Technical    PT Benefita           1         JAKARTA        21-Jun             8.30.00
               Penanggung Jawab                     Indonesia
               Pengendalian
               Pencemaran Air
               (PPPA)
       30      Training &              Technical    Lembaga              2           ONLINE     25 Jun - 28          32.00.00
               Sertifikasi Tenaga                   Sertifikasi                                     Jun
               Teknik Bidang                        Kompetensi
               Pembangkit Tenaga                    PPSDM KEBTKE
               Listrik - Batch 2
        31     Competency Based        Technical    PPM                   1         JAKARTA      26 Jun - 27         16.00.00
               Interview                            Manajemen                                        Jun
       32      3R (Reduce, Reuse,      Technical    PT Benefita          2           ONLINE     26 Jun - 28          22.30.00
               Recycle) Sampah/                     Indonesia                                       Jun
               Limbah Padat
               Non-B3 (Level
               Penanggung
               Jawab)
       33      Training &              Technical    Pusat Studi           1        YOGYAKARTA   3 Jul - 8 Jul        48.00.00
               Sertifikasi                          Lingkungan
               Penanggung Jawab                     Hidup UGM
               Pengelolaan
               Limbah B3
       34      Training &              Technical    Lembaga              3           ONLINE      4 Jul - 7 Jul       32.00.00
               Sertifikasi Tenaga                   Sertifikasi
               Teknik Bidang                        Kompetensi
               Pembangkit Tenaga                    PPSDM KEBTKE
               Listrik - Batch 3
       35      Training &              Technical    PT LabMania          2           BEKASI     6 Jul - 8 Jul         18.00.00
               Sertifikasi Analisis                 Indonesia Jaya
               Gas
               Chromatography
       36      Uji Sertifikasi 3R      Technical    PT Benefita          2           BEKASI         13-Jul            7.30.00
               (Reduce, Reuse,                      Indonesia
               Recycle) Sampah/
               Limbah Padat
               Non-B3 (Level
               Penanggung
               Jawab)
       37      HAZOPs Sertifikasi      Technical    Phitagoras           9         TANGERANG    17 Jul - 21 Jul      37.30.00
               BNSP                                 Training &
                                                    Consulting
       38      Training Interpretasi   Technical    PT Segoro            21           BAP       18 Jul - 21 Jul      32.00.00
               Persyaratan dan                      Intekon (PJK3
               Internal Audit ISO                   Kemenaker RI)
               14001:2015 - Sistem
               Manajemen
               Lingkungan
       39      Canteen Hygiene &       Technical    Patrarijaya          2         YOGYAKARTA    24 Jul - 25         16.00.00
               Management                           Consultant                                       Jul




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60    2023 Annual Report & Sustainability Report
      PT ESSA Industries Indonesia Tbk.
Page 61
      KILAS               LAPORAN      PROFIL        ANALISIS DAN                   TATA KELOLA      LAPORAN               LAPORAN
      KINERJA             MANAJEMEN    PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN       KEBERLANJUTAN         KEUANGAN
      Performance         Management   Company       Management                     Corporate        Sustainability        Financial
      Overview            Report       Profile       Discussion And Analysis        Governance       Report                Report




                                                                                                                       DURASI WAKTU
             NAMA                                                                                                      PELAKSANAAN
          PELATIHAN &          KOMPETENSI   PENYELENGGARA                          TEMPAT           TANGGAL                (MENIT)
                                                                  JUMLAH
NO.     PENGEMBANGAN                                                             PELAKSANAA       PELAKSANAAN           DURATION OF
                               COMPETENCE        PROVIDER       PARTICIPANT
       NAME OF TRAINING                                                             VENUE             DATE            IMPLEMENTATION
        & DEVELOPMENT                                                                                                 TIME (MINUTERS) /
                                                                                                                          (HOURS)

40    Penanggung Jawab         Technical    PT Benefita               1            JAKARTA         24 Jul - 27           30.00.00
      Pengendalian                          Indonesia                                                  Jul
      Pencemaran Air
      (PPPA)
41    Penanggung Jawab         Technical    PT Benefita               1            JAKARTA         24 Jul - 27           30.00.00
      Operasional                           Indonesia                                                  Jul
      Pengolahan Air
      Limbah (POPAL)
42    Auditor Energi           Technical    PT Benefita               1            JAKARTA         24 Jul - 27           30.00.00
                                            Indonesia                                                  Jul
43    Training Auditor Air     Technical    PT Benefita               3            JAKARTA        31 Jul - 4 Aug         37.30.00
      & Workshop                            Indonesia
      Efisiensi Air untuk
      PROPER
44    Refreshment              Technical    Ladwer Institute          2             ONLINE         14 Aug - 16           12.00.00
      Training API 580 -                                                                              Aug
      Risk Based
      Inspection
45    Training IMO Oil         Technical    PT OSCT                   2             BEKASI        22 Aug - 24            27.00.00
      Spill Level 1                         Indonesia                                                Aug
46    Training &               Technical    PT LabMania               1             BEKASI        22 Aug - 26            18.00.00
      Sertifikasi Petugas                   Indonesia Jaya                                           Aug
      Pengambil Contoh
      (PPC) Laboratorium
47    ASNT Magnetic            Technical    PT Sidik Reka             1           BANDUNG          21 Aug - 27           63.00.00
      Particle & Penetrant                  Solusi                                                     Aug
      Test Level 2
48    Training &               Technical    Patrarijaya               5          YOGYAKARTA        21 Aug - 26           48.00.00
      Sertifikasi K3                        Consultant                                                 Aug
      Operator Boiler
      Kelas 1 - Batch 2
49    Workshop                 Technical    PT Benefita               6             BEKASI         30 Aug - 1            24.00.00
      Perlindungan                          Indonesia                                                 Sep
      Keanekaragaman
      Hayati untuk
      PROPER
50    Exam - API 580           Technical    Ladwer Institute          2            JAKARTA           31-Aug               3.30.00

51    Human Resources          Technical    PPM                       1            JAKARTA        5 Sep - 8 Sep          34.00.00
      Management                            Manajemen
52    Training                 Technical    Berdiklat                 2            JAKARTA        6 Sep - 7 Sep           14.00.00
      Manajemen                             Training
      Kearsipan With
      Filing System
53    Sertifikasi Port         Technical    RSO Don Pro               1           BANDUNG         7 Sep - 8 Sep          16.00.00
      Facility Security
      Officer (PFSO)
54    Jetty & Loading          Technical    BKI Academy               2            JAKARTA         11 Sep - 13           24.00.00
      Master                                - PT Biro                                                  Sep
                                            Klasifikasi
                                            Indonesia
                                            (Persero)



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                                                                                    2023 Annual Report & Sustainability Report
                                                                                                                                          61
                                                                                           PT ESSA Industries Indonesia Tbk.
Page 62
     Sustaining Operational Excellence




                                                                                                                  DURASI WAKTU
                      NAMA                                                                                        PELAKSANAAN
                   PELATIHAN &       KOMPETENSI   PENYELENGGARA                      TEMPAT       TANGGAL             (MENIT)
                                                                       JUMLAH
       NO.       PENGEMBANGAN                                                      PELAKSANAA   PELAKSANAAN        DURATION OF
                                     COMPETENCE      PROVIDER        PARTICIPANT
                NAME OF TRAINING                                                      VENUE         DATE         IMPLEMENTATION
                 & DEVELOPMENT                                                                                   TIME (MINUTERS) /
                                                                                                                     (HOURS)

       55      KPI: Aligning         Technical    PPM                     1         JAKARTA      13 Sep - 14        16.00.00
               Organization’s                     Manajemen                                         Sep
               Performance
       56      Training Project      Technical    HRD Spot               2          JAKARTA      14 Sep - 15         14.00.00
               Management With                                                                       Sep
               Microsoft Project
               Application
       57      Diklat Ahli           Technical    PKSPL-IPB               1         JAKARTA      18 Sep - 23        54.00.00
               Kepelabuhanan                                                                         Sep
       58      Training &            Technical    PT Nusantara           12        SURABAYA      18 Sep - 27        90.00.00
               Sertifikasi Petugas                Traisser                                           Sep
               dan Regu Pemadam
               Kebakaran Kelas
               DC - Batch 1
       59      Training              Technical    Ladwer Institute       2          ONLINE       18 Sep - 29         8.00.00
               Refreshment - API                                                                     Sep
               570
       60      Training              Technical    PT LabMania            2           BEKASI      19 Sep - 20         14.00.00
               Ketidakpastian                     Indonesia Jaya                                     Sep
               Pengukuran Pada
               Laboratorium
               Kalibrasi
        61     Training &            Technical    PT Nusantara           12        SURABAYA     8 Oct - 18 Oct      90.00.00
               Sertifikasi Petugas                Traisser
               dan Regu Pemadam
               Kebakaran Kelas
               DC - Batch 2
       62      Training              Technical    PT Yokogawa            3          JAKARTA      23 Oct - 26        28.00.00
               YOKOGAWA                           Indonesia                                         Oct
               PROSAFE-RS
               Engineering &
               Maintenance
               Module
       63      Training AutoCAD      Technical    Patrarijaya            4            BAP       4 Oct - 5 Oct       18.00.00
               Civil 3D                           Consultant
       64      Training Total        Technical    Patrarijaya            4            BAP       6 Oct - 7 Oct       18.00.00
               Station for Survey                 Consultant
               Work
       65      Exam - API 570        Technical    Ladwer Institute       2          JAKARTA        16-Oct            7.30.00

       66      Training Wartsila     Technical    PT Wartsila            2          JAKARTA      16 Oct - 20        45.00.00
               Engine Control                     Indonesia                                          Oct
               System Unic C3 -
               Batch 1
       67      HAZOPs Sertifikasi    Technical    Phitagoras             3          JAKARTA      17 Oct - 20        36.00.00
               BNSP                               Training &                                         Oct
                                                  Consulting
       68      Autumn                Technical    Mitsubishi             3         HIROSHIMA,    6 Nov - 10         40.00.00
               Maintenance                        Corporation                        JAPAN          Nov
               Course




      Laporan Tahunan & Laporan Keberlanjutan 2023
62    2023 Annual Report & Sustainability Report
      PT ESSA Industries Indonesia Tbk.
Page 63
      KILAS           LAPORAN             PROFIL         ANALISIS DAN                   TATA KELOLA      LAPORAN               LAPORAN
      KINERJA         MANAJEMEN           PERUSAHAAN     PEMBAHASAN MANAJEMEN           PERUSAHAAN       KEBERLANJUTAN         KEUANGAN
      Performance     Management          Company        Management                     Corporate        Sustainability        Financial
      Overview        Report              Profile        Discussion And Analysis        Governance       Report                Report




                                                                                                                           DURASI WAKTU
             NAMA                                                                                                          PELAKSANAAN
          PELATIHAN &        KOMPETENSI        PENYELENGGARA                           TEMPAT           TANGGAL                (MENIT)
                                                                      JUMLAH
NO.     PENGEMBANGAN                                                                 PELAKSANAA       PELAKSANAAN           DURATION OF
                             COMPETENCE             PROVIDER        PARTICIPANT
       NAME OF TRAINING                                                                 VENUE             DATE            IMPLEMENTATION
        & DEVELOPMENT                                                                                                     TIME (MINUTERS) /
                                                                                                                              (HOURS)

69    E-filing               Technical         PT Golden                  2            JAKARTA        22 Nov - 23            16.00.00
      Management                               Regency                                                   Nov
      Berbasis ISO 15489                       Consulting
70    Teknisi Deteksi Gas    Technical         PT Nusantara              15              BAP           13 Nov - 14            18.00.00
      - Batch 1                                Traisser                                                   Nov
71    Tenaga Kerja Pada      Technical         PT Nusantara              11              BAP           13 Nov - 17           45.00.00
      Ketinggian Level 1                       Traisser                                                   Nov
      - Batch 1
72    Tenaga Kerja Pada      Technical         PT Nusantara               8              BAP          20 Nov - 24            45.00.00
      Ketinggian Level 2                       Traisser                                                  Nov
      - Batch 1
73    Training &             Technical         PT Nusantara              16              BAP          20 Nov - 24            45.00.00
      Sertifikasi Petugas                      Traisser                                                  Nov
      K3 Ruang Terbatas
      (Level Utama) -
      Batch 1
74    Tenaga Kerja Pada      Technical         PT Nusantara              15              BAP           27 Nov - 1            45.00.00
      Ketinggian Level 1                       Traisser                                                   Dec
      - Batch 2
75    Tenaga Kerja Pada      Technical         PT Nusantara               8              BAP           27 Nov - 1            45.00.00
      Ketinggian Level 2                       Traisser                                                   Dec
      - Batch 2
76    Teknisi Deteksi Gas    Technical         PT Nusantara              15              BAP            4 - 5 Dec             18:00:00
      - Batch 2                                Traisser
77    Petugas P3K            Technical         PT Nusantara              17              BAP            6 - 8 Dec            27:00:00
                                               Traisser
78    Training &             Technical         PT Nusantara              16              BAP           11 - 15 Dec           45:00:00
      Sertifikasi Petugas                      Traisser
      K3 Ruang Terbatas
      (Level Utama) -
      Batch 2
79    Media Handling &       Soft Skill        Transform                  1            Bandung          7 - 8 Dec            16:00:00
      Public Speaking for                      Manpower
      Professional                             Indonesia
80    Training &             Technical         Patrarijaya                2           Yogyakarta       18 - 22 Dec           18:00:00
      Sertifikasi Hazard                       Consultant
      Analysis Critical
      Point (Food
      Hygiene)
81    Training Wartsila      Technical         Wartsila                   2             Jakarta        10 - 11 Dec           18:00:00
      Engine Control                           Indonesia
      System Unic C3
                                                    PLP (Palembang LPG Plant)

 1    Training Sertifikasi   Technical         Mitra Training             1           Cepu, Jawa       15 - 18 Jan           27.00.00
      Petugas Pengambil                        Consulting                              Tengah             2023
      Contoh Gas Bumi
2     Bimbingan Teknis       Technical         Dinas KLH                  2           Palembang       23 - 24 Feb            16.00.00
      Pengelolaan                                                                                        2023
      Limbah B3 dan
      Penilaian Proper
      Hijau


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                                                                                        2023 Annual Report & Sustainability Report
                                                                                                                                              63
                                                                                               PT ESSA Industries Indonesia Tbk.
Page 64
     Sustaining Operational Excellence




                                                                                                                   DURASI WAKTU
                      NAMA                                                                                         PELAKSANAAN
                   PELATIHAN &         KOMPETENSI     PENYELENGGARA                    TEMPAT        TANGGAL           (MENIT)
                                                                         JUMLAH
       NO.       PENGEMBANGAN                                                        PELAKSANAA    PELAKSANAAN      DURATION OF
                                       COMPETENCE        PROVIDER      PARTICIPANT
                NAME OF TRAINING                                                        VENUE          DATE       IMPLEMENTATION
                 & DEVELOPMENT                                                                                    TIME (MINUTERS) /
                                                                                                                      (HOURS)

        3      Strategi                Technical      Kantor Pajak          1         Palembang     16-Mar-23         8.00.00
               Menghadapi                             Palembang
               Pemeriksaan Pajak
               dan Tata Cara
               pengajuan
               Penyelesaian
               Sengketa, Tata
               Cara Perhitungan
               PPN, PPH, PPNBM,
               Penyampaian SPT
               Tahunan WP Orang
               Pribadi & Badan
        4      Fundamentals of         Technical      Markshare             1           Jakarta     20 - 21 Mar      16.00.00
               Project                                People                                          2023
               Management                             Development
               Professional
        5      Empowered               Technical      Dale Carnegie         2         Palembang     23-May-23         4.00.00
               Employees:
               Managing &
               Retaining Them in
               The New and
               Challenging
               Workplace
        6      Sertifikasi - Ijin      Technical      PT. Tujuh             2         Palembang    24 - 27 May       32.00.00
               Lingkungan Proper                      Sriwijaya                                       2023
                                                      Gemilang
        7      Training Aplikasi       Technical      Ailesh                1           Jakarta      6 - 8 Jun       24.00.00
               Software                                                                                2023
               Engineering Base
        8      FGD - Proper Hijau      Soft Skill     Ailesh                1           Jakarta      9 - 11 Jun      24.00.00
                                                                                                       2023
        9      Sertifikasi -           Technical      PT Powerindo          1         Cepu, Jawa    10 - 14 Jun      40.00.00
               Mandatory SKK                          NS                               Tengah         2023
               Migas Operasi
               Angkat Angkut &
               Ikat Beban (Forklift)
        10     Sertifikasi - HAZOP     Technical      Phitagoras            1           Jakarta     17 - 21 Jul      40.00.00
                                                      Training and                                    2023
                                                      Consulting
        11     How To Build Agility    Soft Skill     Dale Carnegie         2         Palembang      18-Jul-23        8.00.00
               In Your
               Organization
        12     Sertifikasi - HR        Technical      Phitagoras            1           Jakarta     18 - 22 Dec      40.00.00
               Manager BNSP                           Training and                                     2023
                                                      Consulting
                                                                                                                    279.00.00

                                               EIIH (ESSA Industries Indonesia Head Office)

        1      Fundamentals of         Technical      Markshare             2           Jakarta     20 - 21 Mar      16.00.00
               Project                                People                                          2023
               Management                             Development
               Professional




      Laporan Tahunan & Laporan Keberlanjutan 2023
64    2023 Annual Report & Sustainability Report
      PT ESSA Industries Indonesia Tbk.
Page 65
            KILAS          LAPORAN       PROFIL        ANALISIS DAN                   TATA KELOLA     LAPORAN               LAPORAN
            KINERJA        MANAJEMEN     PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN      KEBERLANJUTAN         KEUANGAN
            Performance    Management    Company       Management                     Corporate       Sustainability        Financial
            Overview       Report        Profile       Discussion And Analysis        Governance      Report                Report




                                                                                                                        DURASI WAKTU
                   NAMA                                                                                                 PELAKSANAAN
                PELATIHAN &      KOMPETENSI    PENYELENGGARA                         TEMPAT           TANGGAL               (MENIT)
                                                                    JUMLAH
    NO.       PENGEMBANGAN                                                         PELAKSANAA       PELAKSANAAN          DURATION OF
                                 COMPETENCE        PROVIDER       PARTICIPANT
             NAME OF TRAINING                                                         VENUE             DATE           IMPLEMENTATION
              & DEVELOPMENT                                                                                            TIME (MINUTERS) /
                                                                                                                           (HOURS)

     2      Pengantar Business   Technical     Hukumonline              1             Jakarta        15-Aug-23             3.00.00
            Judgement Rule
     3      Workshop Tindak      Technical     ICSA                     1             Jakarta        28-Nov-23             3.30.00
            Pidana Koorporasi
            dalam UU No
            1/2003 tentang
            Kitab Hukum UU
            Pidana
                                                                                                                          22.30.00



Perseroan secara konsisten meningkatkan pengelolaan              The Company consistently strives to improve the management
SDM yang antara lain diwujudkan melalui perencanaan              of its human resources, among other things, through
tenaga kerja yang terintegrasi sesuai dengan arah                integrated workforce planning in accordance with the
pengembangan bisnis dalam jangka panjang. Perseroan              direction of long-term business development. The Company
meyakini bahwa dedikasi dan kerja keras seluruh karyawan         believes that the dedication and hard work of all employees
menjadi pijakan yang kokoh untuk mempertahankan                  will serve as solid foundation to maintain business growth
pertumbuhan bisnisnya dan menciptakan nilai positif bagi         and create positive value for the Company and all other
Perseroan dan seluruh pemangku kepentingan lainnya.              stakeholders.

HUBUNGAN INDUSTRIAL                                              INDUSTRIAL RELATIONS
Keselamatan dan Kesehatan Kerja juga merupakan bagian            Occupational Health and Safety is also an inseparable part
yang tidak terpisahkan dari seluruh karyawan di mana tingkat     of all employees where the Company's very low occupational
kecelakaan kerja Perseroan yang sangat rendah merupakan          accident rate is a manifestation of the Company's commitment
perwujudan komitmen Perseroan untuk terus menciptakan            to continue to create a safe work environment.
lingkungan kerja yang aman.

Selain itu Perseroan juga menjaga kepatuhan terhadap             In addition, the Company also maintains compliance with
Peraturan Ketenagakerjaan dipenuhi Perseroan melalui             Labor Regulations fulfilled by the Company through Company
Peraturan Perusahaan yang dibuat dan diberlakukan di             Regulations created and enforced within the Company to
lingkungan Perseroan untuk mengatur hak dan kewajiban            regulate rights and obligations as well as working relationships
serta hubungan kerja antara Perseroan dan karyawannya.           between the Company and its employees. One form of
Salah satu wujud menjaga hubungan industrial yang baik           maintaining good industrial relations is the fulfilment of a
adalah dengan pemenuhan Upah Minimum Regional (UMR)              Regional Minimum Wage (UMR) in the Company's work
di wilayah kerja Perseroan. Perseroan juga menjaga daya          area. The Company also maintains the competitiveness of
saing karyawannya dengan menyediakan fasilitas                   its employees by providing employee welfare facilities,
kesejahteraan karyawan, antara lain pemenuhan:                   including the fulfilment of:




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     Peraturan Perusahaan yang mengatur hak dan kewajiban                   Company regulations governing rights and obligations, as
     serta hubungan kerja antara Perseroan dan karyawannya,                 well as occupational relationships between the Company
     Peraturan Perusahaan terbaru telah mendapatkan pengesahan              and its employees, the latest Company Regulations, have
     dari instansi yang berwenang berdasarkan Surat Keputusan               been approved by the competent authority based on Decree
     Nomor KEP. 4/HI.00.00/00.0000.211026027/B/XII/2021.                    KEP. 4/HI.00.00/00.0000.211026027/B/XII/2021


                                                                                                      Lokasi
                                           Fasilitas                                                 Location
           No.
                                           Facilities                                 Kantor Pusat               Pabrik / Site
                                                                                      Head Office                 Plant / Site
      1           Tunjangan Hari Raya                                                      √                          √
                  Holiday Allowances
      2           BPJS Kesehatan dan BPJS Ketenagakerjaan (meliputi:                       √                          √
                  Jaminan Hari Tua, Jaminan Kecelakaan Kerja, Jaminan
                  Kematian dan Jaminan Pensiun)
                  BPJS Health and BPJS Employment (including post
                  employment insurance, work accident insurance, death
                  insurance, and pension insurance);
      3           Tunjangan kesehatan (meliputi: Rawat Jalan, Rawat Gigi,                  √                          √
                  Kacamata dan Persalinan) dan medical check-up secara
                  rutin
                  Health benefits (including Outpatient, Dental, Glasses, and
                  Childbirth) and regular medical check-ups
      4           Asuransi kesehatan berupa: Medical Scheme (Inpatient)                    √                          √
                  Health insurance in the form of Medical Scheme (Inpatient)
      5           Car Ownership Program                                                    √                          √
                  Car Ownership Program
      6           Fasilitas kebugaran                                                       -                         √
                  Fitness facilities
      7           Fasilitas makan siang dan malam bagi karyawan                             -                         √
                  Lunch and dinner for employees
      8           Birthday Celebration untuk karyawan yang diadakan setiap                 √                          √
                  bulan
                  Birthday Celebration for employees which is held every
                  month
      9           Fasilitas transportasi berupa bus karyawan                                -                         √
                  Transportation facilities in the form of employee buses
      10          Mess untuk karyawan plant/site                                            -                         √
                  Mess for plant/site employees
      11          Fasilitas komunikasi berupa pemberian telepon genggam                    √                          √
                  dan pulsa untuk jabatan tertentu
                  Communication facilities in the form of the provision of
                  mobile phones and mobile vouchers for certain positions
      12          Rooster                                                                   -                         √
                  Rooster




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                KILAS         LAPORAN          PROFIL          ANALISIS DAN                      TATA KELOLA     LAPORAN          LAPORAN
                KINERJA       MANAJEMEN        PERUSAHAAN      PEMBAHASAN MANAJEMEN              PERUSAHAAN      KEBERLANJUTAN    KEUANGAN
                Performance   Management       Company         Management                        Corporate       Sustainability   Financial
                Overview      Report           Profile         Discussion And Analysis           Governance      Report           Report




KOMPOSISI KARYAWAN [C.3]                                                 EMPLOYEE COMPOSITION [C.3]

Perseroan menetapkan komposisi karyawan yang seimbang                    The Company determines a balanced composition of
dan mendukung pertumbuhan bisnis Perseroan secara                        employees and supports the Company's sustainable business
berkelanjutan. Komposisi karyawan untuk posisi 31 Desember               growth. The employee composition as of 31 December
2023 dan perbandingannya dengan tahun sebelumnya                         2023, and its comparison with the previous year can be
dapat dilihat pada tabel-tabel berikut:                                  seen in the following tables:


 Tabel komposisi karyawan berdasarkan usia
 Table of employee composition based on age
                                 31 Desember 2023                        31 Desember 2022                           31 Desember 2021
             Usia                31 December 2023                        31 December 2022                           31 December 2021
             Age                Jumlah                             Jumlah                                       Jumlah
                                                   %                                         %                                    %
                               Sub Total                          Sub Total                                    Sub Total
 18-25                                     7             2%                  12                       3%                 13               3%

 26-33                                 118               27%               120                       28%               133               33%

 34-41                                154                35%               142                       34%               127               31%

 42-49                                106                24%               104                       25%                94               23%

 50 ke atas/ Above 50                  52                12%                44                       10%                38                9%

 Total                                437              100%               422                       100%              405              100%

 Tabel komposisi karyawan berdasarkan Jabatan
 Table of employee composition based on position
                                 31 Desember 2023                        31 Desember 2022                           31 Desember 2021
     Jenjang Jabatan             31 December 2023                        31 December 2022                           31 December 2021
      Position Level            Jumlah                             Jumlah                                       Jumlah
                                                   %                                        %                                     %
                               Sub Total                          Sub Total                                    Sub Total
 Non Staff                             151               35%               182                       43%               176               43%

 Staf/Officer                         182                42%               157                       37%                60               15%

 Lead/Supervisor                       64                15%                48                        11%              134               33%

 Manager                               22                5%                 35                        8%                35                9%

 Senior Manager                        18                4%

 Total                                437              100%               422                       100%              405              100%




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     Sustaining Operational Excellence




     Tabel komposisi karyawan berdasarkan Pendidikan
     Table of employee composition based on educational level
                                31 Desember 2023                         31 Desember 2022                31 Desember 2021
         Jenjang                31 December 2023                         31 December 2022                31 December 2021
        Pendidikan
     Educational Level        Jumlah                                Jumlah                            Jumlah
                                                    %                                  %                               %
                             Sub Total                             Sub Total                         Sub Total
     SMP                                  7              2%                134               32%                132         33%

     SMA                             122                28%

     Diploma                             64              15%                   68             16%                48          12%

     S1                              217                50%                194               46%                199         49%

     S2                                  26              6%                    25             6%                 25          6%

     S3                                   1              0%                     1             0%                  1          0%

     Total                           437                100%              422                100%               405         100%


     Tabel komposisi karyawan berdasarkan Gender / Jenis Kelamin
     Table of employee composition based on gender
                                     31 Desember 2023                     31 Desember 2022              31 Desember 2021
             Jenis Kelamin           31 December 2023                     31 December 2022              31 December 2021
                Gender             Jumlah                            Jumlah                          Jumlah
                                                        %                              %                              %
                                  Sub Total                         Sub Total                       Sub Total
     Laki - laki                              365           84%            363               86%           349              86%
     Male
     Perempuan                                 72            16%               59             14%           56               14%
     Female
     Total                                    437           100%           422               100%         405               100%


     Tabel komposisi karyawan berdasarkan Status Ketenagakerjaan
     Table of employee composition based on employment status
                                31 Desember 2023                         31 Desember 2022                31 Desember 2021
     Status Karyawan            31 December 2023                         31 December 2022                31 December 2021
       Employment
          Status              Jumlah                                Jumlah                            Jumlah
                                                    %                                  %                               %
                             Sub Total                             Sub Total                         Sub Total

     Permanen                        382                87%                375               89%                365         90%
     Permanent
     Employee
     Kontrak                             55              13%                   47             11%                40          10%
     Contract
     Employee
     Total                           437                100%              422                100%               405         100%




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            KILAS           LAPORAN        PROFIL       ANALISIS DAN                   TATA KELOLA    LAPORAN               LAPORAN
            KINERJA         MANAJEMEN      PERUSAHAAN   PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN         KEUANGAN
            Performance     Management     Company      Management                     Corporate      Sustainability        Financial
            Overview        Report         Profile      Discussion And Analysis        Governance     Report                Report




Komposisi Pemegang Saham
Shareholders Composition [C.3]

Sesuai dengan Daftar Pemegang Saham yang dikeluarkan              According to Shareholders List issued by the Company's
Badan Administrasi Efek Perseroan, susunan Pemegang               Share Registrar, Shareholders composition are as follows:
Saham adalah sebagai berikut:


 Struktur Pemegang Saham Tahun 2023
 Shareholders Structure in 2023
                                         31 Desember 2022                                    31 Desember 2023
                                         31 December 2022                                    31 December 2023
  Nama Pemegang Saham
    Shareholders Name         Jumlah Pemilikan
                                                     Persentase (%)       Jumlah Pemilikan Saham               Persentase (%)
                                  Saham
                                                     Percentage (%)          Number of Shares                  Percentage (%)
                              Number of Shares
 PT Trinugraha Akraya             3.617.900.000               23,10%                    3.402.325.000                  19,75%
 Sejahtera
 Chander Vinod Laroya             2.038.939.327               13,02%                     2.821.983.677                 16,38%
 Garibaldi Thohir                   320.126.684                2,04%                       956.188.134                 5,55%
 Publik Lainnya (<5%)             9.683.920.989               61,84%                    10.046.478.889                 58,32%
 Public (<5%)
 Total                          15.660.887.000              100,00%                    17.226.975.700              100,00%


 Daftar 20 Pemegang Saham Terbesar ESSA (Kepemilikan Langsung)
 List of ESSA’s 20 Majority Shareholders (Direct Ownership
                      Nama Pemegang Saham                  Jumlah Saham              Persentase (%)            Status Investor
  No.
                          Shareholders                    Number of Shares           Percentage (%)            Investor Status
   1     PT TRINUGRAHA AKRAYA SEJAHTERA                        3,402,325,000             19.75%          PERSEROAN TERBATAS
                                                                                                         LIMITED COMPANY
   2     CHANDER VINOD LAROYA                                   2,821,983,677            16.38%          PERORANGAN INDONESIA
                                                                                                         INDONESIAN INDIVIDUAL
   3     GARIBALDI THOHIR                                          956,188,134            5.55%          PERORANGAN INDONESIA
                                                                                                         INDONESIAN INDIVIDUAL
   4     SUGITO WALUJO                                            768,454,216             4.46%          PERORANGAN INDONESIA
                                                                                                         INDONESIAN INDIVIDUAL
   5     BANK JULIUS BAER AND CO LTD SINGAPORE                     715,787,433            4.16%          BADAN USAHA ASING
                                                                                                         FOREIGN COMPANY
   6     BANK OF SINGAPORE LIMITED                                709,139,700             4.12%          BADAN USAHA ASING
                                                                                                         FOREIGN COMPANY
   7     T. PERMADI RACHMAT. IR                                  632,692,956              3.90%          PERORANGAN INDONESIA
                                                                                                         INDONESIAN INDIVIDUAL
   8     JONATHAN CHANG                                           619,016,300             3.59%          PERORANGAN INDONESIA
                                                                                                         INDONESIAN INDIVIDUAL
   9     UOB KAY HIAN PTE LTD                                      415,304,100            2.41%          BADAN USAHA ASING
                                                                                                         FOREIGN COMPANY
   10    GOLDSTAR TRI INVESTMENT LIMITED                         400,455,900              2.32%          BADAN USAHA ASING
                                                                                                         FOREIGN COMPANY
   11    PT TUNGGAL JAYA INVESTAMA                                373,267,200             2.17%          PERSEROAN TERBATAS
                                                                                                         LIMITED COMPANY
   12    MONEYPENNY HOLDINGS LTD.                                 361,953,800             2.10%          BADAN USAHA ASING
                                                                                                         FOREIGN COMPANY
   13    PT DHARMA INTI ANUGERAH                                  318,876,500             1.85%          PERSEROAN TERBATAS
                                                                                                         LIMITED COMPANY



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     Sustaining Operational Excellence




     Daftar 20 Pemegang Saham Terbesar ESSA (Kepemilikan Langsung)
     List of ESSA’s 20 Majority Shareholders (Direct Ownership
                       Nama Pemegang Saham                     Jumlah Saham           Persentase (%)          Status Investor
      No.
                           Shareholders                       Number of Shares        Percentage (%)          Investor Status

       14    PIETER TANURI                                          178,075,000                 1.03%    PERORANGAN INDONESIA
                                                                                                         INDONESIAN INDIVIDUAL
       15    CITIBANK NEW YORK S/A GOVERNMENT OF                    171,933,500                 1.00%    BADAN USAHA ASING
             NORW                                                                                        FOREIGN COMPANY
       16    PT ELANG MAHKOTA TEKNOLOGI                             144,369,000                0.84%     PERSEROAN TERBATAS
                                                                                                         LIMITED COMPANY
       17    JPMCB NA RE-VANGUARD TOTAL                             130,853,955                 0.76%    BADAN USAHA ASING
             INTERNATIONAL                                                                               FOREIGN COMPANY
       18    JPMCB NA RE - VANGUARD EMERGING                        129,663,945                 0.75% BADAN USAHA ASING
             MARKETS                                                                                  FOREIGN COMPANY
       19    PT TERRA KONSUMA INVESTAMA                             107,025,000                0.62%     PERSEROAN TERBATAS
                                                                                                         LIMITED COMPANY
      20     PT WICAKSANA TEKNOLOGI                                 100,250,002                0.58% PERSEROAN TERBATAS
                                                                                                     LIMITED COMPANY

     Kepemilikan Saham Langsung & Tidak Langsung
     oleh Dewan Komisaris dan Direksi per 31 Desember 2023
     Direct & Indirect Share Ownership by the Board of Commissioners
     and Board of Directors as of 31 December 2023
                                                                          1 Januari 2023                   31 Desember 2023
      Kepemilikan Saham oleh Dewan
                                                                          January 1, 2023                  December 31, 2023
     Komisaris dan Direksi 31 Desember
                                                                      Jumlah                              Jumlah
                     2023                      Jabatan                                 Presentase                      Presentase
                                                                    Kepemilikan                         Kepemilikan
      Share Ownership by the Board of          Position                                    (%)                             (%)
                                                                      Saham                               Saham
         Commissioners and Board of                                                    Percentage                      Percentage
                                                                    Total Share                         Total Share
      Directors as of 31 December 2023                                                     (%)                             (%)
                                                                     Ownership                           Ownership
                                                        Dewan Komisaris
                                                     Board of Commissioners
     Hamid Awaluddin                     Presiden Komisaris                       0               0               0                0
                                         dan Komisaris
                                         Independen
                                         President
                                         Commissioner and
                                         Independent
                                         Commissioner
     Chander Vinod Laroya                Wakil Presiden                           0               0 2.821.983.677               16,38
                                         Komisaris
                                         Vice President
                                         Commissioner
     Rahul Puri                          Komisaris                                0               0               0                0
                                         Commissioner
     Arif Rachmat                        Komisaris                       1.979.600             0,01        1.979.600             0,01
                                         Commissioner
     Ida Bagus Rahmadi Supancana         Komisaris Independen                     0               0               0                0
                                         Independent
                                         Commissioner




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             KILAS            LAPORAN        PROFIL          ANALISIS DAN                      TATA KELOLA       LAPORAN               LAPORAN
             KINERJA          MANAJEMEN      PERUSAHAAN      PEMBAHASAN MANAJEMEN              PERUSAHAAN        KEBERLANJUTAN         KEUANGAN
             Performance      Management     Company         Management                        Corporate         Sustainability        Financial
             Overview         Report         Profile         Discussion And Analysis           Governance        Report                Report




Kepemilikan Saham Langsung & Tidak Langsung
oleh Dewan Komisaris dan Direksi per 31 Desember 2023
Direct & Indirect Share Ownership by the Board of Commissioners
and Board of Directors as of 31 December 2023
                                                                              1 Januari 2023                         31 Desember 2023
 Kepemilikan Saham oleh Dewan
                                                                              January 1, 2023                        December 31, 2023
Komisaris dan Direksi 31 Desember
                                                                          Jumlah                                   Jumlah
                2023                            Jabatan                                    Presentase                          Presentase
                                                                        Kepemilikan                              Kepemilikan
 Share Ownership by the Board of                Position                                       (%)                                  (%)
                                                                          Saham                                    Saham
    Commissioners and Board of                                                             Percentage                          Percentage
                                                                        Total Share                              Total Share
 Directors as of 31 December 2023                                                              (%)                                  (%)
                                                                         Ownership                                Ownership
                                                                Direksi
                                                           Board of Directors
Kanishk Laroya                         Presiden Direktur &                               0                  0                     0                0
                                       CEO
                                       President Director &
                                       CEO
Mukesh Agrawal                         Direktur & COO                                    0                  0                     0                0
                                       Director & COO
Prakash Bumb                           Direktur & CFO                                    0                  0                     0                0
                                       Director & CFO
Isenta                                 Direktur                                          0                  0                     0                0
                                       Director

Kepemilikan Saham Dewan Komisaris dan Direksi
Total >5% ( Langsung & Tidak Langsung) per 31 Desember 2023
Share Ownership by the Board of Commissioners and
Board of Directors >5% (Direct & Indirect) as of 31 December 2023
                                                                                 Kepemilikan
                                            Kepemilikan Langsung
                                                                               Tidak Langsung
      Dewan Komisaris & Direksi                 Direct Shares
                                                                                Indirect Shares                        Catatan
    Board of Commissioners & Board
                                                                                 Kepemilikan                           Remark
              of Directors                  Jumlah           Persentase
                                                                                    atas EII
                                            Amount           Percentage
                                                                               Ownership to EII
Chander Vinod Laroya                       2.821.983.677       16,38%              6,30%            Melalui PT Akraya Internasional dan PT
                                                                                                    Trinugraha Akraya Sejahtera
                                                                                                    Through PT Akraya Internasional and
                                                                                                    PT Trinugraha Akraya Sejahtera

Kepemilikan Saham oleh Pemodal Nasional dan Asing per 31 Desember 2023
Share Ownership by Domestic and Foreign Investor as of 31 December 2023
                    Status Pemilik                 Jumlah Investor                             Jumlah Efek                        Persentase (%)
      No
                    Owner Status                  Number of Investor                         Number of Shares                     Percentage (%)
                                                           Pemodal Nasional
                                                           Domestic Investor
1              Perorangan Indonesia                                  19,563                             7,280,748,060                 42.26%
               Indonesian Individual
2              Koperasi                                                    2                                       29,000             0.00%
3              Yayasan                                                     6                                    7,251,500             0.04%
               Foundation
4              Dana Pensiun                                               25                                    61,917,500            0.36%
               Pension Fund
5              Asuransi                                                   47                                201,647,700                1.17%
               Insurance


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     Sustaining Operational Excellence




     Kepemilikan Saham oleh Pemodal Nasional dan Asing per 31 Desember 2023
     Share Ownership by Domestic and Foreign Investor as of 31 December 2023
                        Status Pemilik             Jumlah Investor                Jumlah Efek               Persentase (%)
           No
                        Owner Status              Number of Investor            Number of Shares            Percentage (%)

     6             Perseroan Terbatas                                  79                   5,151,662,167      29.90%
                   Company
     7             Reksa Dana                                          66                   309,379,670         1.80%
                   Mutual Fund
     8             Perorangan Asing                                     21                   56,235,900         0.33%
                   Foreign Individual
     9             Badan Usaha Asing                                   122                  4,158,104,203      24.14%
                   Foreign Company
     Total                                                         19,931                 17,226,975,700      100.00%




     Struktur Pemegang Saham
     Shareholders Structure


           PT Trinugraha Akraya Sejahtera          Chander Vinod Layora       Garibaldi Thohir          Public < 5%


                             19,75%                            16,38%                 5,55%                   58,32%

                                                                   100%
                                                 PT ESSA Industries Indonesia Tbk.


                                        99,99%                                                 99,99%
                    PT Ogspiras Basya Pratama                                 PT ESSA Chemicals Indonesia



                                                                                 70,00%
                                                    PT Panca Amara Utama
          Per 31 Desember 2023
          As of 31 December 2023




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              KILAS         LAPORAN      PROFIL         ANALISIS DAN                   TATA KELOLA    LAPORAN              LAPORAN
              KINERJA       MANAJEMEN    PERUSAHAAN     PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN        KEUANGAN
              Performance   Management   Company        Management                     Corporate      Sustainability       Financial
              Overview      Report       Profile        Discussion And Analysis        Governance     Report               Report




Kronologi Pencatatan Saham dan Efek Lainnya
Chronology of Share and Other Securities Listing

Pencatatan saham Perseroan di Bursa Efek Indonesia dimulai        The listing of the Company's shares on the Indonesia Stock
pada tanggal 1 Februari 2012 dengan kode perdagangan              Exchange (IDX) began on 1 February 2012, with the trading
ESSA. Ringkasan kronologi pencatatan saham dapat dilihat          code ESSA. A summary of the share listing chronology can
pada tabel berikut:                                               be seen in the following table:



                                                                                                      Jumlah Saham
          Aksi Korporasi           Tanggal Pencatatan           Jumlah Saham                           Total Shares
         Corporate Action             Listing Date             Number of Shares                Sebelum              Sesudah
                                                                                                Before                After
 IPO                             1 Februari 2012                        250.000.000             550.000.000              800.000.000
                                 1 February 2012
 Convertible Bonds Conversion    1 Februari 2012                        200.000.000             800.000.000             1.000.000.000
                                 1 February 2012
 Non Pre-emptive Rights Issue    4 September 2013                       100.000.000            1.000.000.000            1.100.000.000
                                 4 September 2013
 Stock Split (1:10)              9 Oktober 2017                       9.900.000.000             1.100.000.000          11.000.000.000
                                 9 October 2017
 Pre-emptive Rights Issue        9 Februari 2018                      3.300.000.000           11.000.000.000           14.300.000.000
                                 9 February 2018
 Non Pre-emptive Rights Issue    8 Desember 2020                       1.360.887.000          14.300.000.000           15.660.887.000
                                 8 December 2020
 Non Pre-emptive Rights Issue    17 Februari 2023                      1.566.088.700          15.660.887.000           17.226.975.700
                                 17 February 2023




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     Sustaining Operational Excellence



     Peta Operasional
     Operational Map [C.3]




                                                                                 Banggai Ammonia
                                                                                 Plant (BAP)




     Palembang LPG
     Plant (PLP)


     Head Office




     Head Office                             Palembang LPG Plant (PLP)                Banggai Ammonia Plant (BAP)
     DBS Tower 18th Floor, Ciputra World 1   Jl. Raya Palembang Indralaya Km. 17      Jl. Poros Sulawesi, Desa Uso Kec. Batui,
     Jl. Prof. Dr. Satrio Kav.3-5, Jakarta   Simpang Y, Palembang Sumatera Selatan,   Kab. Banggai Sulawesi Tengah, Indonesia
     Selatan, DKI Jakarta, Indonesia         Indonesia




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            KILAS           LAPORAN       PROFIL        ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
            KINERJA         MANAJEMEN     PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
            Performance     Management    Company       Management                     Corporate      Sustainability    Financial
            Overview        Report        Profile       Discussion And Analysis        Governance     Report            Report




Entitas Anak
Subsidiaries

PT Panca Amara Utama

PT Panca Amara Utama (PAU) didirikan berdasarkan Akta             PT Panca Amara Utama (PAU) was established based on
Pendirian No. 10 tanggal 15 September 2008 yang telah             Establishment Deed no. 10 15 September 2008, which was
disahkan oleh Menteri Kehakiman Republik Indonesia dalam          approved by the Minister of Justice of the Republic of
Surat Keputusannya No. AHU-93981. AH.01.02.Tahun 2008             Indonesia in his Decree No. AHU-93981. AH.01.02.Tahun
tanggal 5 Desember 2008.                                          2008 dated 5, December 2008.

Susunan kepengurusan PAU per tanggal 31 Desember 2023             The composition of PAU's management as of 31 December
adalah sebagai berikut:                                           2023, is as follows:

Presiden Komisaris : Chander Vinod Laroya                         President Commissioner : Chander Vinod Laroya
Komisaris : Rahul Puri                                            Commissioner : Rahul Puri
Komisaris : Lodewijk F. Paulus                                    Commissioner : Lodewijk F. Paulus
Komisaris : Andre Mirza Hartawan                                  Commissioner : Andre Mirza Hartawan
Komisaris : Himawan Gunadi                                        Commissioner : Himawan Gunadi

Presiden Direktur & CEO      : Kanishk Laroya                     President Director & CEO          : Kanishk Laroya
Direktur & COO 		            : Mukesh Agrawal                     Director & COO 		                 : Mukesh Agrawal
Direktur & CFO 		            : Prakash Chand Bumb                 Director & CFO 		                 : Prakash Chand Bumb
Direktur 			                 : Isenta                             Director 			                      : Isenta

Fasilitas Produksi                                                Production Facilities
Pabrik amoniak memiliki kapasitas produksi Amoniak sebesar        The ammonia plant has production capacity of 700,000
700.000 MT per tahun dan memanfaatkan gas alam dari               MT per year and utilizes natural gas from the Senoro-Toili
lapangan gas Senoro-Toili yang disuplai oleh JOB Pertamina-       gas field supplied by JOB Pertamina-Medco E&P Tomori
Medco E&P Tomori Sulawesi, sampai dengan sebesar 55               Sulawesi, up to 55 MMSCFD, where the natural gas will
MMSCFD, di mana gas alam tersebut kemudian akan diproses          then be processed to produce Ammonia. This production
untuk dapat memproduksi Amoniak. Fasilitas produksi ini           facility has been fully operational since the end of 2018 and
telah beroperasi penuh sejak akhir tahun 2018 dan                 has made a positive contribution to the Company.
memberikan kontribusi positif bagi Perseroan.

Atas proyek ini PAU telah menerima Project Finance                PAU has received the International Finance Project's Asia-
International’s Asia-Pacific Petrochemical Deal of the Year       Pacific Petrochemical Deal of the Year Award (PFI) in 2014
Award (PFI) pada tahun 2014. PFI adalah sumber project            for this project. PFI is the world's leading source of project
financing intelligence terkemuka di dunia dan PAU akan            financing intelligence and PAU will carve a new history in
mengukir sejarah baru di Indonesia, dengan memiliki Pabrik        Indonesia, by having the first Ammonia Factory in Sulawesi
Amoniak pertama di Sulawesi dan merupakan Pabrik Amoniak          and is the first Ammonia Factory in Indonesia sponsored
pertama di Indonesia yang disponsori oleh swasta domestik.        by the domestic private sector.

PAU memiliki Dermaga / Jetty sepanjang 230 meter yang             PAU has a 230-meter Pier/Jetty that handles vessels from
mampu menangani kapal dari 5.000 hingga 44.000 DWT                5,000 to 44,000 DWT and also has a Loading arm with a
serta juga memiliki Loading arm dengan kapasitas 1.000            capacity of 1,000 tons per hour. Plus Jetty PAU has a
ton per jam. Ditambah Jetty PAU memiliki Statement Of             Statement Of Compliance of A Port Facility (SOCPF) of
Compliance of A Port Facility (SOCPF) berstandar International    International Maritime Organization (IMO) standard and
Maritime Organization (IMO) dan Solas 74.                         Solas 74.

Amoniak Biru                                                      Blue Ammonia
ESSA menjadi salah satu produsen amoniak terbesar di              ESSA is one of the largest ammonia producers in Indonesia,
Indonesia yang pertama kali di dunia memanfaatkan teknologi       which is the first in the world to utilize the latest technology,
terbaru, yang dinamakan: ‘KBR Reforming Exchanger System          which is called: 'KBR Reforming Exchanger System and
and Purifier Technology. Sejalan dengan kepedulian yang           Purifier Technology. In line with the increasing concern for


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     meningkat pada keberlanjutan global, Amoniak Biru mulai          global sustainability, Blue Ammonia is starting to emerge
     muncul sebagai alternatif bahan bakar berkarbon rendah.          as an alternative to low carbon fuels. On 18 March 2021,
     Pada tanggal 18 Maret 2021, ESSA (melalui PAU)                   ESSA (through PAU) signed a Memorandum of Understanding
     menandatangani Nota Kesepahaman (MoU) tentang                    (MoU) on Carbon Capture, Utilization and Storage (CCUS)
     Pengumpulan, Pemanfaatan dan Penyimpanan Karbon                  for Blue Ammonia Production in Indonesia in collaboration
     (Carbon Capture, Utilization and Storage/CCUS) untuk             with Japan Oil, Gas and Metals National Corporation
     Produksi Amoniak Biru di Indonesia bekerja sama dengan           (“JOGMEC”), Mitsubishi Corporation (“MC”), and Bandung
     Japan Oil, Gas and Metals National Corporation (“JOGMEC”),       Institute of Technology (“ITB”). Through the commitment of
     Mitsubishi Corporation (“MC”), dan Institut Teknologi Bandung    Blue Ammonia, ESSA paved the way for Indonesia to be at
     (“ITB”). Melalui komitmen Amoniak Biru, ESSA membuka             the forefront of providing the fuel of the future.
     jalan bagi Indonesia untuk menjadi yang terdepan dalam
     menyediakan bahan bakar masa depan.

     PAU juga telah menandatangani Nota Kesepahaman untuk             PAU has also signed a Memorandum of Understanding to
     mengukur Emisi Gas Rumah Kaca (GRK) di Pabrik Amoniak            measure Greenhouse Gas (GHG) Emissions at the PAU
     PAU di Luwuk, Banggai, Sulawesi Tengah, Indonesia. PAU           Ammonia Plant in Luwuk, Banggai, Central Sulawesi,
     akan bekerja sama dengan JGC Corporation (“JGC”) dimana          Indonesia. PAU will cooperate with JGC Corporation ("JGC")
     hal ini akan berkontribusi pada peningkatan pedoman              where this will contribute to the improvement of guidelines
     tentang produksi Clean Ammonia; selangkah lebih dekat            on Clean Ammonia production; one step closer to a better
     menuju dunia yang lebih baik dan lebih bersih.                   and cleaner world.



                                                          MOU



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                                        po                                                op
                                       p                                                     er
                                    Su                                                         ati
                                                                                                  on
                                                   Support for       Measurement
                                              t
                                        p  or     Measurement          Service
                                     Re




                               Cooperation                                            Capital relationship
                                                                                        / Cooperation




             Alamat | Address :
             DBS Bank Tower 18th Floor
             Ciputra World 1 Jakarta
             Jl. Prof. Dr. Satrio Kav. 3-5
             Jakarta 12940, Indonesia
             T +62 21 2988 5600 / 5700
             F +62 21 2988 5601 / 5701
             Website : www.essa.id
             E-mail : corpsec.eii@essa.id



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            KILAS         LAPORAN       PROFIL       ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
            KINERJA       MANAJEMEN     PERUSAHAAN   PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
            Performance   Management    Company      Management                     Corporate      Sustainability    Financial
            Overview      Report        Profile      Discussion And Analysis        Governance     Report            Report




PT ESSA Chemicals Indonesia (d.h. PT Sepchem)

PT ESSA Chemicals Indonesia (ECI) didirikan berdasarkan        PT Sepchem was established based on the Deed of
Akta Pendirian Perseroan Terbatas PT Dinar Investindo          Establishment of a Limited Liability Company PT Dinar
Utama no. 27 tanggal 25 April 2002 yang telah disahkan         Investindo Utama no. 27 dated 25 April 2002, which was
oleh Menteri Kehakiman Republik Indonesia dalam Surat          approved by the Minister of Justice of the Republic of
Keputusannya No. C-10416 HT.01.01.TH.2002 tanggal 12           Indonesia in his Decree No. C-10416 HT.01.01.TH.2002
Juni 2002 serta telah diumumkan dalam Berita Negara            dated 12 June 2002 and has been announced in the State
Republik Indonesia No. 9597, tanggal 30 Agustus 2002,          Gazette of the Republic of Indonesia No. 9597, 30 August
Tambahan No. 70 dengan nama PT Dinar Investindo Utama,         2002, Supplement No. 70 under the name PT Dinar Investindo
lalu berubah nama menjadi PT Luwuk Investindo Utama            Utama, then changed its name to PT Luwuk Investindo
berdasarkan Akta Berita Acara Rapat Umum Pemegang              Utama based on Deed of Minutes of Extraordinary General
Saham Luar Biasa No. 12 tanggal 9 Agustus 2006 yang            Meeting of Shareholders No. 12 dated 9 August 2006 which
telah disahkan oleh Menteri Kehakiman Republik Indonesia       was approved by the Minister of Justice of the Republic of
dalam Surat Keputusannya No. W7-04199 HT.01.04-TH.2006         Indonesia in his Decree No. W7-04199 HT.01.04-TH.2006
tanggal 27 Desember 2006 dan kemudian berdasarkan              dated 10 December 2006, and then based on the Deed of
Akta Pernyataan Keputusan Pemegang Saham PT Luwuk              Declaration of Shareholders of PT Luwuk Investindo Utama
Investindo Utama no. 57 tanggal 10 Mei 2002 yang telah         no. 57 dated 10 May 2002, which was approved by the
disahkan oleh Menteri Kehakiman Republik Indonesia dalam       Minister of Justice of the Republic of Indonesia in his Decree
Surat Keputusannya No. AHU-26987. AH.01.02.Tahun 2012          No. AHU-26987. AH.01.02.In 21 May 2012, changed its
tanggal 21 Mei 2012 berubah nama menjadi PT Sepchem.           name to PT Sepchem.

Setelah itu PT Sepchem berubah nama menjadi PT ESSA            Afterward PT Sepchem changed its name to PT ESSA
Chemicals Indonesia sesuai dengan ketetapan SK                 Chemicals Indonesia in accordance with the provisions of
Kemenkumham Nomor AHU-0063752.AH.01.02.TAHUN                   the Ministry of Law and Human Rights Decree Number
2023 pada tanggal 19 Oktober 2023.                             AHU-0063752. AH.01.02.YEAR 2023 on 19 October 2023.

Susunan kepengurusan PT ESSA Chemicals Indonesia per           The composition of the management of PT ESSA Chemicals
tanggal 31 Desember 2023 adalah sebagai berikut:               Indonesia as of 31 December 2023 is as follows:

Presiden Komisaris         : Rahul Puri                        President Commissioner            : Rahul Puri
Komisaris 		               : Prakash Chand Bumb                Commissioner 		                   : Prakash Chand Bumb
Presiden Direktur 		       : Kanishk Laroya                    President Director                : Kanishk Laroya
Direktu 			                : Isenta                            Director 			                      : Isenta



        Alamat | Address :
        DBS Bank Tower 18th Floor
        Ciputra World 1 Jakarta
        Jl. Prof. Dr. Satrio Kav. 3-5
        Jakarta 12940, Indonesia
        T +62 21 2988 5600 / 5700
        F +62 21 2988 5601 / 5701




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     PT Ogspiras Basya Pratama

     PT Ogspiras Basya Pratama (OBP) didirikan berdasarkan           PT Ogspiras Basya Pratama (OBP) was established based
     Akta Pendirian no. 49 tanggal 29 Juli 1993 yang telah           on the Deed of Establishment no. 49 dated 29 July 1993,
     disahkan oleh Menteri Kehakiman Republik Indonesia dalam        which was approved by the Minister of Justice of the Republic
     Surat Keputusannya No. C2-4087 HT.01.01. Th.95 tanggal          of Indonesia in his Decree No. C2-4087 HT.01.01. Th.95 7
     7 April 1995 serta telah diumumkan dalam Berita Negara          April 1995, and has been announced in the State Gazette
     Republik Indonesia No. 820, tanggal 28 Februari 1997.           of the Republic of Indonesia No. 820, February 28, 1997.
     Perseroan melakukan akuisisi atas kepemilikan saham OBP         The Company acquired OBP share ownership based on
     berdasarkan Akta Pernyataan Keputusan Pemegang Saham            the Shareholders' Decree No. 28 on 26 May 2017, which
     no. 28 tanggal 26 Mei 2017 yang telah disahkan oleh Menteri     was approved by the Minister of Justice of the Republic of
     Kehakiman Republik Indonesia dalam Surat Keputusannya           Indonesia in his Decree No. AHUAH. 01.03-0142343 on 5
     No. AHUAH. 01.03-0142343 tanggal 5 Juni 2017.                   June 2017.

     Susunan kepengurusan OBP per tanggal 31 Desember 2023           The composition of the OBP management as of 31 December
     adalah sebagai berikut:                                         2023 is as follows:

     Presiden Komisaris           : Isenta                           President Commissioner        : Isenta
     Komisaris 		                 : Susanto Darus                    Commissioner 		               : Susanto Darus
     Direktur 			                 : Kanishk Laroya                   Director 			                  : Kanishk Laroya



             Alamat | Address :
             DBS Bank Tower 18th Floor
             Ciputra World 1 Jakarta
             Jl. Prof. Dr. Satrio Kav. 3-5
             Jakarta 12940, Indonesia
             Telp.      : +62 21 2988 5600
             Fax.       : +62 21 2988 5601




     Informasi Akuntan
     Publik dan Kantor Akuntan Publik
     Information of Public Accountant and Public Accounting Firm
         Kantor Akuntan Publik         Gani Sigiro & Handayani
         Public Accounting Firm        Sampoerna Strategic Square Lantai 25,
                                       Jl. Jenderal Sudirman Kav. 45-46,
                                       Jakarta 12930, Indonesia
         Auditor                       Tagor Sidik Sigiro, CPA
         Periode Penugasan             Tahun Buku 2023
         Assignment Period             Financial Year 2023
         Jasa yang Diberikan           Jasa yang diberikan kepada Perseroan selama Tahun 2023 adalah audit atas laporan
         Services Provided             keuangan untuk tahun yang berakhir 31 Desember 2023. Selain audit atas laporan
                                       keuangan, Perseroan tidak menggunakan jasa lain dari KAP.

                                       Services granted to the Company during 2022 were auditing of financial statements for
                                       the year ended on 31 December 2023. In addition of financial statement audit, the
                                       Company does not use other services from the Public Accounting Firm.
         Biaya Jasa                    Rp662.500.000,- (di luar biaya tambahan & PPN)
         Services Fee                  Rp662,500,000,- (out of pocket expenses & VAT)


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            KILAS           LAPORAN       PROFIL        ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
            KINERJA         MANAJEMEN     PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
            Performance     Management    Company       Management                     Corporate      Sustainability    Financial
            Overview        Report        Profile       Discussion And Analysis        Governance     Report            Report




Lembaga dan Profesi Penunjang Pasar Modal
Capital Market Supporting Institutions and Professions

Konsultan Hukum | Legal Consultant
Assegaf, Hamzah & Partners
Capital Place, Level 36-37,
Jl. Jenderal Gatot Subroto Kav. 18,
Jakarta 12710, Indonesia

Notaris | Notary
Notaris Jimmy Tanal S.H., M.Kn
The ‘H’ Tower Lantai 20, Suite A dan G
Jalan H.R. Rasuna Said Kavling C-20, Kuningan
Jakarta 12940, Indonesia

Biro Administrasi Efek | Securities Administration Bureau
PT Datindo Entrycom
Jl. Hayam Wuruk No.28,
Jakarta 10120, Indonesia



Penghargaan dan Sertifikasi
Awards and Certificates

PENGHARGAAN ESSA
ESSA AWARDS

Perseroan untuk kesepuluh kalinya memperoleh penghargaan
Kecelakaan Nihil dari Kementerian Ketenagakerjaan Republik
Indonesia. Pencapaian ini merupakan prestasi atas upaya
Perseroan dalam melaksanakan program Keselamatan dan
Kesehatan Kerja (K3), sehingga mencapai 5.536.824 jam
kerja tanpa kecelakaan kerja periode 1 Juli 2007 – 31
Desember 2022. Penghargaan diterima pada tanggal 09
Juni 2023 yang diserahkan oleh Sekretaris Jenderal
Kementerian Ketenagakerjaan Republik Indonesia.

The Company for the tenth time received the Zero Accident
award from the Ministry of Manpower of the Republic of
Indonesia. It was awarded for the implementation of
Occupational Safety and Health (K3) program which reached
5,536,883 working hours of zero accidents for the period
of 1 July 2007 – 31 December 2022. The award was received
on 09 June 2023, which was submitted by the Secretary
General of the Ministry Manpower of the Republic of Indonesia.




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     Perseroan untuk kedelapan kalinya telah memperoleh
     penghargaan PATRA NIRBHAYA KARYA PRATAMA dari
     Kementerian Energi dan Sumber Daya Mineral Direktorat
     Jenderal Minyak dan Gas Bumi. Pencapaian ini merupakan
     prestasi pencapaian 5.624.883 jam kerja tanpa kehilangan
     hari kerja karena kecelakaan pada periode 1 Juli 2007
     sampai dengan 30 April 2023. Penghargaan diterima pada
     tanggal 15 September 2023 dan diterima oleh Manager
     Kilang Perseroan.

     The Company for the eighth time has received the PATRA
     NIRBHAYA KARYA PRATAMA award from the Ministry of
     Energy and Mineral Resources, Directorate General of Oil
     and Gas. This achievement is an achievement of achievement
     5,624,883 hours of work without loss of working days due
     to accidents in the period 1 July 2007 to 30 April 2023. The
     award was received on 15 September 2023 and received
     by the Manager of the Company’s Refinery.




     Perseroan untuk kedelapan kalinya memperoleh penghargaan
     PROPER “BIRU” dari Kementerian Lingkungan Hidup dan
     Kehutanan Republik Indonesia. Pencapaian ini merupakan
     hasil dari Program Penilaian Peringkat Kerja Perseroan
     dalam Pengelolaan Lingkungan Hidup dengan peringkat
     BIRU untuk periode 2021-2022.

     For the eighth time, the Company received the “BLUE”
     PROPER award from the Ministry of Environment and Forestry
     of the Republic of Indonesia. This achievement is the result
     of the Company’s Work Rating Program in Environmental
     Management with a BIRU rating for the 2021-2022 period.




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           KILAS          LAPORAN       PROFIL        ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
           KINERJA        MANAJEMEN     PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
           Performance    Management    Company       Management                     Corporate      Sustainability    Financial
           Overview       Report        Profile       Discussion And Analysis        Governance     Report            Report




PENGHARGAAN PAU
PAU AWARDS




PT Panca Amara Utama (PAU) telah dianugerahi Penghargaan        PT Panca Amara Utama (PAU) has been awarded the
PROPER HIJAU dari Kementerian Lingkungan Hidup dan              GREEN PROPER Award from the Ministry of Environment
Kehutanan (KLHK) pada tanggal 20 Desember 2023.                 and Forestry (KLHK) on 20 December 2023.

PAU mempertahankan prestasi luar biasa selama dua tahun         PAU maintained its outstanding achievements for two
berturut-turut, memantapkan posisi sebagai salah satu dari      consecutive years, solidifying its position as one of 196
196 penerima Penghargaan GREEN PROPER, dari total 3.694         GREEN PROPER Award recipients, out of a total of 3,694
perusahaan peserta. Penghargaan ini merupakan wujud             participating companies. This award is a manifestation of
dari komitmen luar biasa ESSA terhadap keberlanjutan            ESSA's outstanding commitment to environmental
lingkungan, melampaui standar kepatuhan, dan memberikan         sustainability, exceeding compliance standards, and making
kontribusi yang signifikan terhadap pelestarian sumber daya     significant contributions to natural resource conservation,
alam, konservasi energi, dan pengembangan masyarakat.           energy conservation, and community development.

Bpk. Agus Salim (Manajer HSE PT Panca Amara Utama)              Bpk. Agus Salim (HSE Manager of PT Panca Amara Utama)
mewakili perusahaan, menerima penghargaan PROPER                representing the Company, received the GREEN PROPER
HIJAU yang diserahkan oleh Bpk. Drs. Alue Dohong, M.Sc,         award presented by Bpk. Drs. Alue Dohong, M.Sc, Ph.D
Ph.D (Wakil Menteri Lingkungan Hidup dan Kehutanan              (Vice Minister of Environment and Forestry of the Republic
Republik Indonesia).                                            of Indonesia).



PAU memperoleh penghargaan Kecelakaan Nihil dari
Kementerian Ketenagakerjaan Republik Indonesia. Pencapaian
ini merupakan prestasi atas upaya Perseroan dalam
melaksanakan program Keselamatan dan Kesehatan Kerja
(K3), sehingga mencapai 5.726.256 jam kerja tanpa
kecelakaan kerja periode 1 Desember 2019 – 31 Desember
2022.



PAU received the Zero Accident Award from the Ministry
of Manpower of the Republic of Indonesia. This is an
achievement of the Company's efforts in implementing the
Occupational Safety and Health (OHS) program, by achieving
5,726,256 working hours without work accidents for the
period 1 December 2019 – 31 December 2022.



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     PAU mendapatkan penghargaan sebagai Perusahaan
     Penerima Penghargaan Program Pencegahan dan
     Penanggulangan Covid-19 di Tempat Kerja dengan Kategori
     Platinum dari Kementerian Ketenagakerjaan Republik
     Indonesia.

     PAU was awarded as a Platinum Category Covid-19
     Prevention and Countermeasure Program Award Recipient
     Company from the Ministry of Manpower of the Republic
     of Indonesia.




     Sertifikasi SMK3 Sistem Manajemen Keselamatan dan
     Kesehatan Kerja, mengacu pada peraturan PP No. 50 Tahun
     2012, setelah audit sertifikasi dilakukan pada tanggal 21-23
     September 2022 oleh Surveyor Indonesia, dengan skor
     90,36% (Sangat Baik) yang memenuhi syarat untuk Gold
     Flag dari Kemenakertrans (Menteri) Tenaga Kerja dan
     Transmigrasi Republik Indonesia).

     SMK3 Certification of Occupational Safety and Health
     Management System, referring to the regulation of PP No.
     50 of 2012, after a certification audit conducted on 21-23
     September 2022 by Surveyor Indonesia, with a score of
     90.36% (Very Good) which qualifies for the Gold Flag from
     the Ministry of Manpower and Transmigration of the Republic
     of Indonesia).




     Setelah menerima sertifikat penghargaan pada Tahun 2022,
     Perseroan selalu berkomitmen untuk mengimplementasikan
     “ISO 14001:2015 Sistem Manajemen Lingkungan”, hal ini
     dibuktikan dengan pencapaian hasil Surveillance dari TUV-
     NORD pada 2023 dengan hasil MEMUASKAN tanpa temuan
     besar maupun kecil sebagai bentuk kesadaran karyawan
     terhadap lingkungan di Pabrik.

     After receiving the award certificate in 2022, the Company
     has always been committed to implementing the "ISO
     14001:2015 Environmental Management System", this is
     manifested by the achievement of Surveillance results from
     TUV-NORD in 2023 with SATISFACTORY results without
     significant or minor findings as a form of employee awareness
     of the environment at the Refinery.




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            KILAS          LAPORAN       PROFIL        ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
            KINERJA        MANAJEMEN     PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
            Performance    Management    Company       Management                     Corporate      Sustainability    Financial
            Overview       Report        Profile       Discussion And Analysis        Governance     Report            Report




PT Panca Amara Utama menerima piagam Penghargaan                 PT Panca Amara Utama received a certificate of appreciation
dari Dinas Lingkungan Hidup Provinsi Sulawesi Tengah atas        from the Environmental Agency of Central Sulawesi Province
kontribusi dalam menjaga dan melestarikan Habitat Maleo          for its contribution in maintaining and preserving Maleo
di Kabupaten Banggai.                                            Habitat in Banggai Regency.

Maleo (Macrocephalon maleo) adalah satwa endemik Sulawesi        Maleo (Macrocephalon maleo) is an endemic animal of
dan tidak akan ditemukan di tempat lain di dunia. Burung ini     Sulawesi and will not be found anywhere else in the world.
hanya ada di Pulau Sulawesi dan populasinya makin terancam       This bird only exists on Sulawesi Island and its population
karena maraknya pembukaan lahan di habitatnya berupa             is increasingly threatened due to rampant land clearing in
kawasan pantai berpasir panas atau pegunungan dengan             its habitat in the form of hot sandy beach areas or mountains
sumber air panas atau kondisi geotermal tertentu.                with hot springs or certain geothermal conditions.

Piagam penghargaan tersebut diserahkan langsung oleh             The award certificate was handed over directly by Dr. Yopie
Dr. Yopie M.I Patiro SH., MH Kepala Dinas Lingkungan Hidup       M.I Patiro SH, MH, Head of the Central Sulawesi Provincial
Provinsi Sulawesi Tengah bertepatan dengan peringatan            Environment Agency to coincide with the commemoration
Hari Lingkungan Hidup Sedunia, 5 Juni 2023.                      of World Environment Day, 5 June 2023.




Pertumbuhan ekonomi pada hakekatnya adalah suatu acuan           Economic growth is essentially a reference to measure the
untuk mengukur prestasi dari perkembangan suatu                  achievement of the development of an economy from one
perekonomian dari suatu periode ke periode berikutnya.           period to the next. Therefore, PAU's contribution in terms
Oleh karenanya, kontribusi PAU berkenaan pajak dan               of local taxes and levies supports the development and
retribusi daerah menjadi penopang Pembangunan dan                economic turnover of the region.
perputaran ekonomi wilayah.

Pemerintah Kabupaten Banggai menyerahkan Piagam                  The Banggai Regency Government presented a Charter of
Penghargaan kepada PT Panca Amara Utama sebagai                  Appreciation to PT Panca Amara Utama as a company that
perusahaan yang taat dan berkomitmen membayar pajak              is obedient and committed to paying taxes on time to the
tepat waktu kepada Pemda Kabupaten Banggai.                      Banggai Regency Government.


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     Piagam penghargaan tersebut diserahkan langsung oleh          The award charter was handed over directly by the Regent
     Bupati Banggai, Ir. H. Amiruddin. MM pada moment peringatan   of Banggai, Ir. H. Amiruddin. MM at the commemoration of
     Ulang Tahun Republik Indonesia 17 Agustus 2023 yang           the 78th Anniversary of the Republic of Indonesia on 17
     ke- 78.                                                       August 2023.




     Untuk penanganan kemiskinan di Indonesia, perseroan           To overcome poverty in Indonesia, the company believes
     menyakini diperlukan sinergi oleh semua pihak, pemerintah,    that synergy is needed by all parties, government, community
     masyarakat dan tentunya disektor swasta. Kontribusi           and of course the private sector. The Company's contribution
     Perseroan dalam penanganan kemiskinan, tidak hanya            to poverty alleviation is not only supporting the applicable
     mendukung aturan dan regulasi yang berlaku namun juga         rules and regulations but also social activities and recruiting
     kegiatan sosial dan merekrut tenaga kerja local menjadi       local labor to be part of this change.
     bagian dari perubahan ini.

     Penghargaan Penanggulangan Kemiskinan di kabupaten            The Poverty Reduction Award in Banggai district was
     Banggai diterima oleh PT Panca Amara Utama sebagai            received by PT Panca Amara Utama as an active form of
     bentuk aktif Perseroan dalam pengentasan kemiskinan.          the Company in poverty alleviation.

     Dalam kurun 2 tahun terakhir, angka kemiskinan ekstrim di     In the last 2 years, the extreme poverty rate in Banggai
     Kabupaten Banggai terus menurun, dari 3,24% pada tahun        Regency has continued to decline, from 3.24% in 2020 to
     2020 menjadi 1,81% di tahun 2021 dan 1.44% di tahun 2022.     1.81% in 2021 and 1.44% in 2022.

     Piagam penghargaan tersebut diberikan pada 25 September       The award certificate was given on 25 September 2023
     2023 dan diserahkan langsung oleh Wakil Ketua 1 DPRD          and was handed over directly by the Vice Chairperson I of
     Banggai, Hj. Batia Sisilia Hadjar pada rapat kordinasi        the Banggai DPRD, Hj. Batia Sisilia Hadjar at the regional
     penanggulangan kemiskinan daerah yang dihadiri oleh           poverty reduction coordination meeting attended by the
     Bupati Banggai serta OPD terkait.                             Regent of Banggai and related OPDs.




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           KILAS          LAPORAN       PROFIL        ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
           KINERJA        MANAJEMEN     PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
           Performance    Management    Company       Management                     Corporate      Sustainability    Financial
           Overview       Report        Profile       Discussion And Analysis        Governance     Report            Report




PT Panca Amara Utama menerima penghargaan dari                  PT Panca Amara Utama received an award from the
Pemerintah Kabupaten Banggai Laut atas kegiatan pelestarian     Government of Banggai Laut Regency for its Maleo
dan penangkaran Maleo melalui konservasi Ex Situ.               conservation and breeding activities through Ex Situ
                                                                conservation.

Piagam penghargaan diserahkan langsung oleh Bupati              The award certificate was handed over directly by the
Banggai Laut, Bapak Sofyan Kaepa pada acara puncak              Regent of Banggai Laut, Mr. Sofyan Kaepa at the Malabot
Festival Malabot Tumbe, 4 Desember 2023.                        Tumbe Festival, 4 December 2023.

Piagam penghargaan tersebut diberikan sebagai tanda             The award certificate was given as a token of gratitude
terima kasih Masyarakat Banggai Laut atas upaya PT Panca        from the people of Banggai Laut for the efforts of PT Panca
Amara Utama yang memiliki peran penting sehingga                Amara Utama, which has an important role so that the
pelaksanaan ritual adat baik Mombowa Tumpe di Batui             implementation of traditional rituals both Mombowa Tumpe
maupun Malabot Tumbe di Banggai Laut tetap terlaksana.          in Batui and Malabot Tumbe in Banggai Laut is still carried
                                                                out.




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      04
                                                ANALISIS DAN
                                                PEMBAHASAN
                                                MANAJEMEN
                                                MANAGEMENT
                                                DISCUSSION
                                                AND ANALYSIS
                                                88 Tinjauan Umum      89 Tinjauan Operasi dan Keuangan
                                                   General Overview      Operational and Financial Review




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     Sustaining Operational Excellence



     Tinjauan Umum
     General Overview




     TINJAUAN EKONOMI GOBAL DAN                                      GLOBAL AND NATIONAL ECONOMIC
     NASIONAL                                                        OVERVIEW

     Kondisi perekonomian global masih diliputi ketidakpastian       Global economic conditions remain uncertain until the end
     sampai dengan akhir Tahun 2023. Risiko dan ketidakpastian       of 2023. These global risks and uncertainties are triggered
     global ini dipicu dinamika negara-negara maju seperti inflasi   by the dynamics of developed countries such as high
     yang yang tinggi, peningkatan suku bunga, tekanan fiskal,       inflation, increasing interest rates, fixation pressures, and
     dan lainnya yang berdampak ke perekonomian global.              others that have an impact on the global economy. World
     Pertumbuhan ekonomi dunia Tahun 2023 direvisi turun             economic growth in 2023 was revised down by the
     oleh International Monetary Fund (IMF) menjadi hanya 3%         International Monetary Fund (IMF) to only 3% and by the
     dan oleh Bank Dunia hanya 2,1%.                                 World Bank to only 2.1%.

     Sementara dari sisi perekonomian nasional, data Badan           Meanwhile, in terms of the national economy, data from
     Pusat Statistik (BPS) menunjukkan pertumbuhan ekonomi           the Central Statistics Agency (BPS) showed that Indonesia's
     Indonesia triwulan III 2023 tetap tumbuh kuat sebesar 4,94%     economic growth in the third quarter of 2023 continued to
     (yoy), meskipun sedikit melambat dari pertumbuhan pada          grow strongly at 4.94% (yoy), although it slowed slightly
     triwulan sebelumnya yang sebesar 5,17% (yoy). Konsistensi       from the growth in the previous quarter of 5.17% (yoy). This
     pertumbuhan ini menandakan daya tahan dan kinerja               consistent growth signaled the resilience and better
     perekonomian Indonesia yang lebih baik dibandingkan             performance of the Indonesian economy compared to many
     banyak negara lain di tengah tantangan moderasi harga           other countries amidst the challenges of commodity price
     komoditas dan krisis geopolitik yang terjadi.                   moderation and geopolitical crisis.

     Pertumbuhan ekonomi nasional yang tetap kuat didukung           The strong growth of the national economy was supported
     oleh permintaan domestik yang solid, antara lain konsumsi       by solid domestic demand, including household consumption
     rumah tangga seiring dengan kenaikan mobilitas dan daya         in line with the increase in mobility and stable purchasing
     beli masyarakat yang stabil serta pertumbuhan investasi         power and investment growth in line with the government's
     seiring berlanjutnya pembangunan infrastruktur pemerintah       continued infrastructure development in various parts of
     di berbagai wilayah Indonesia, termasuk di Ibu Kota Nusantara   Indonesia, including in the Ibu Kota Nusantara (IKN).
     (IKN).



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               KILAS            LAPORAN      PROFIL       ANALISIS DAN                 TATA KELOLA    LAPORAN                LAPORAN
               KINERJA          MANAJEMEN    PERUSAHAAN   PEMBAHASAN MANAJEMEN         PERUSAHAAN     KEBERLANJUTAN          KEUANGAN
               Performance      Management   Company      Management                   Corporate      Sustainability         Financial
               Overview         Report       Profile      Discussion And Analysis      Governance     Report                 Report




Tinjauan Operasi dan Keuangan
Operational and Financial Review


TINJAUAN OPERASIONAL                                               OPERATIONAL REVIEW
Perseroan memproduksi secara langsung maupun melalui               The Company produces, either directly or through its
anak perusahaan, produk-produk yang meliputi Amoniak,              subsidiaries, products which include Ammonia, LPG, and
Elpiji, dan Kondensat. Data produksi dan penjualan produk          Condensate. Production and sales data of the Company's
Perseroan selama Tahun 2022 – 2023 adalah sebagai                  products during 2022 - 2023 are as follows:
berikut:



 Produksi (dalam MT/bbl)
 Production (in MT/bbl)
                                                                                      Volume Produksi
                         Keterangan                                                  Production Volume
                         Description
                                                                      2022                                    2023

 Amoniak (MT)                                                                       760.815                                    739.220
 Ammonia (MT)
 Elpiji (MT)                                                                         63.717                                      72.941
 LPG (MT)
 Kondensat (bbl)                                                                    142.550                                     152.354
 Condensate (bbl)

 Pendapatan (dalam Dolar AS)
 Revenue (in US$)
                                                                                         Pendapatan
                         Keterangan                                                       Revenue
                         Description
                                                                       2022                                    2023

 Penjualan Amoniak                                                              681.368.314                                299.683.273
 Ammonia Sales
 Penjualan Elpiji                                                               46.541.305                                  41.483.038
 LPG Sales
 Jasa Pengolahan                                                                    3.581.115                                 3.795.314
 Processing Fees
 Jumlah                                                                        731.490.734                                344.961.625
 Total

Penjualan Amoniak seluruhnya dipasarkan ke Genesis                 All Ammonia sales are marketed to Genesis Corporation
Corporation dengan harga berdasarkan harga Fertecon                at prices based on Fertecon prices in US$ per MT. The
dalam US$ per MT. Berikut adalah tabel data volume penjualan       following is a table of Ammonia sales volume data:
Amoniak:
                                                                                                                       Dalam Metrik Ton
                                                                                                                           In Metric Ton

                  Keterangan
                                                              2022                                          2023
                  Description
 Amoniak                                                                      768.300                                          726.892
 Ammonia




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     Penjualan Elpiji Perseroan seluruhnya dipasarkan kepada        The Company's LPG sales are entirely marketed to Pertamina,
     Pertamina, dengan penentuan harga jual berpatokan pada         with the determination of the selling price based on the
     harga Elpiji internasional, yaitu CP Aramco (contract price    international LPG price, namely CP Aramco (Saudi Arabia's
     Arab Saudi) dalam satuan US$ per MT. Berikut adalah data       contract price) in units of US$ per MT. The following are
     volume penjualan Elpiji Perseroan:                             the LPG sales volume data of the Company:


                                                                                                               Dalam Metrik Ton
                                                                                                                   In Metric Ton

                    Keterangan
                                                                2022                                    2023
                    Description
      Elpiji                                                                   63.770                                   73.094
      LPG


     Produk kondensat Perseroan seluruhnya diserahkan kepada        All of the Company's condensate products were delivered
     PT Pertamina EP. Berikut adalah data penyerahan kondensat      to PT Pertamina EP. The following is the Company's
     Perseroan:                                                     condensate delivery data:


                                                                                                                     Dalam BBL
                                                                                                                         In BBL

                    Keterangan
                                                                2022                                    2023
                    Description
      Kondensat                                                               143.245                                    151.813
      Condensate


     Kinerja Kilang LPG                                             Performance of LPG Refinery

     Selama Tahun 2023, kilang LPG ESSA beroperasi dengan           During 2023, ESSA's LPG refinery operated steadily with
     stabil dengan zero plant trip selama 55 bulan berturut-turut   zero plant trips for 55 consecutive months and an excellent
     dan excellent safety record. Produksi Elpiji tercatat lebih    safety record. LPG production was recorded higher in 2023
     tinggi di Tahun 2023 yaitu 72.941 MT dibandingkan dengan       at 72,941 MT compared to the previous year at 63,717 MT
     tahun sebelumnya sebesar 63.717 MT dengan tingkat utilisasi    with LPG refinery utilization rate reaching 99.5% compared
     kilang LPG mencapai 99,5% dibandingkan standar industri        to typical industry standard of 90.4%. Lower LPG price
     pada umumnya sebesar 90,4%. Realisasi harga LPG yang           realization in 2023 caused LPG business revenue to decline
     lebih rendah di Tahun 2023 menyebabkan pendapatan              compared to the previous year. Notably, the LPG Refinery
     bisnis Elpiji menurun dibandingkan dengan tahun sebelumnya.    has received the PROPER Biru Award from Ministry of
     Kilang LPG telah menerima penghargaan Proper Biru dari         Environment and Forestry for compliance with environmental
     Kementerian Lingkungan Hidup dan Kehutanan untuk               regulations and Patra Nirbhaya Karya Pratama from Ministry
     kepatuhan terhadap peraturan lingkungan & Patra Nirbhaya       of Energy and Mineral Resources for achieving 5.8 million
     Karya Pratama dari Kementerian Energi dan Sumber Daya          man-hours without loss time injury, both for 8th consecutive
     Mineral atas pencapaian 5,8juta jam kerja tanpa kecelakaan,    year.
     keduanya selama 8 tahun berturut-turut.

     Kinerja Kilang Amoniak                                         Performance of Ammonia Refinery

     Produksi Amoniak di Tahun 2023 tercatat sebesar 739.220        Ammonia production in 2023 was recorded at 739,220 MT,
     MT, lebih rendah dibandingkan dengan Tahun 2022 yaitu          lower compared to 2022 at 760,815 MT due to the closure
     sebesar 760.815 MT akibat penutupan dan pemeliharaan           and scheduled maintenance of the Ammonia plant for a
     terjadwal pabrik Amoniak selama 3 (tiga) minggu. Harga         period of 3 (three) weeks.. Lower Ammonia price in 2023
     Amoniak yang lebih rendah di Tahun 2023 menyebabkan            caused the revenue of Ammonia business also decreased
     pendapatan bisnis Amoniak juga menurun dibandingkan            compared to the previous year. Major plant turnaround was


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                KILAS          LAPORAN      PROFIL       ANALISIS DAN                  TATA KELOLA   LAPORAN             LAPORAN
                KINERJA        MANAJEMEN    PERUSAHAAN   PEMBAHASAN MANAJEMEN          PERUSAHAAN    KEBERLANJUTAN       KEUANGAN
                Performance    Management   Company      Management                    Corporate     Sustainability      Financial
                Overview       Report       Profile      Discussion And Analysis       Governance    Report              Report




dengan tahun sebelumnya. Major plant turnaround telah              completed in March 2023. The Ammonia Plant received
selesai dilakukan pada bulan Maret 2023. Pabrik Amoniak            the Green Proper award from the Ministry of Environment
mendapatkan penghargaan Proper Hijau dari Kementerian              and Forestry as a form of strong commitment to the
Lingkungan Hidup dan Kehutanan sebagai bentuk komitmen             environment. In addition, the Ammonia Plant also received
yang kuat terhadap lingkungan. Selain itu, Pabrik Amoniak          zero accident award, SMK3 from the Ministry of Manpower
juga menerima penghargaan Zero Accident, SMK3 dari                 and ISO 14001-2015 Certificate for Integrated Management
Kementerian Ketenagakerjaan dan Sertifikat ISO 14001-2015          System.
untuk Sistem Manajemen Terpadu.

TINJAUAN KEUANGAN                                                  FINANCIAL REVIEW

 Tabel Ringkasan Laporan Laba Rugi dan Penghasilan Komprehensif Lain (dalam Dolar AS)
 Table of Statement of Profit or Loss and Other Comprehensive Income Highlights (in US$)
                                                                                                            Perubahan
                       Rincian                                                                               Change
                                                          2022                     2023
                      Description                                                                      Nilai
                                                                                                                             %
                                                                                                       Value
 Pendapatan                                               731.490.734              344.961.625        (386.529.109)        (53%)
 Revenue
 Beban Pokok Pendapatan                                  (390.327.992)             (241.784.688)        148.543.304        (38%)
 Cost of Revenue

 Laba Bruto                                                341.162.742              103.176.937       (237.985.805)        (70%)
 Gross Profit
 Beban                                                     (65.101.722)             (41.388.620)          23.713.102       (36%)
 Expenses
 Laba (Rugi) Sebelum Pajak Penghasilan                    276.061.020                 61.788.317       (214.272.703)       (78%)
 Profit (Loss) Before Income Tax
 Manfaat (Beban) Pajak                                    (55.270.694)             (15.064.880)          40.205.814        (73%)
 Tax Benefit
 Laba (Rugi) Komprehensif Tahun Berjalan                 220.790.326                 46.723.437        (174.066.889)       (79%)
 Comprehensive Income (Loss) for the Year
 Laba Per Saham (dalam 1.000 saham)                              8,865                    2,033                (6,832)     (77%)
 Earnings Per Share (in 1,000 shares)


Pendapatan                                                         Revenue

Pada Tahun 2023, Perseroan mencatatkan penurunan                   In 2023, the Company recorded a 53% decrease in revenue
pendapatan sebesar 53% menjadi US$345,0 juta dari                  to US$345.0 million from US$731.5 million in 2022 due to
US$731,5 juta di Tahun 2022 akibat harga komoditas yang            lower commodity prices and the temporary shutdown of
lebih rendah dan penghentian sementara Pabrik Amoniak              the Ammonia Plant for scheduled maintenance.
untuk pemeliharaan terjadwal.

Beban Pokok Pendapatan dan Laba Bruto                              Cost of Revenue and Gross Profit

Sejalan dengan penurunan tersebut, beban pokok pendapatan          In line with this decline, cost of revenue decreased to
menurun menjadi US$241,8 juta di Tahun 2023 dibandingkan           US$241.8 million in 2023 compared to US$390.3 million in
dengan US$390,3 juta pada Tahun 2023. Sehingga, perolehan          2023. As a result, the Company's gross profit decreased
laba bruto Perseroan tercatat menurun menjadi US$103,2             to US$103.2 million in 2023 from US$341.2 million in 2022.
juta pada Tahun 2023 dari US$341,2 juta pada Tahun 2022.



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     Beban dan Laba Tahun Berjalan                                  Expenses and Profit for the Year

     Pada Tahun 2023, Perseroan mencatat beban yang lebih           In 2023, the Company recorded lower expenses mainly
     rendah terutama berasal dari penurunan beban penjualan         derived from a decrease in selling expenses to US$536.9
     menjadi US$536,9 ribu dibandingkan Tahun 2022 sebesar          thousand compared to US$2.8 million in 2022 due to a
     US$2,8 juta karena penurunan penjualan. Perseroan              decrease in sales. The Company recorded profit for the
     mencatatkan laba tahun berjalan sebesar US$46,7 juta,          year of US$46.7 million, lower compared to US$220.8
     lebih rendah dibandingkan dengan Tahun 2022 sebesar            million in 2022.
     US$220,8 juta.


      Tabel Ringkasan Laporan Posisi Keuangan (dalam Dolar AS)
      Table of Statement of Financial Position Highlights (in US$)
                                                                                                      Perubahan
                           Rincian                    2022                                             Change
                                                                           2023
                          Description                                                              Nilai
                                                                                                                       %
                                                                                                   Value
      Aset Lancar                                  272.532.450                178.839.689             (93.692.761)    (34%)
      Current Asset
      Aset Tidak Lancar                             558.762.715              516.602.558               (42.160.157)   (8%)
      Non-Current Asset
      Total Aset                                      831.295.165            695.442.247             (135.852.918)    (16%)
      Total Assets
      Liabilitas Jangka Pendek                        121.797.408             124.601.828               2.804.420      2%
      Current Liabilities
      Liabilitas Jangka Panjang                       184.133.657              73.096.778             (111.036.879)   (60%)
      Non-Current Liabilities
      Total Liabilitas                             305.931.065                197.698.606            (108.232.459)    (35%)
      Total Liabilities
      Ekuitas                                      525.364.100                497.743.641             (27.620.459)    (5%)
      Equity
      Jumlah Liabilitas dan Ekuitas                   831.295.165            695.442.247             (135.852.918)    (16%)
      Total Liabiities and Equity



     Aset                                                           Assets

     Total aset pada Tahun 2023 tercatat menurun sebesar 16%        Total assets in 2023 were recorded to decrease by 16% to
     menjadi US$695,4 juta dibandingkan Tahun 2022 sebesar          US$695.4 million compared to US$831.3 million in 2022.
     US$831,3 juta. Penurunan aset lancar sebesar 34% menjadi       The decrease in current assets by 34% to US$178.8 million
     US$178,8 juta dibandingkan dengan posisi Tahun 2022            compared to the 2022 position of US$272.5 million mainly
     sebesar US$272,5 juta terutama berasal dari penurunan          came from the decline in earnings which resulted in a
     laba yang berdampak pada penurunan kas dan piutang             decrease in cash and trade receivables of the Company.
     usaha Perseroan. Aset tidak lancar mengalami penurunan         Non-current assets decreased by 8% to US$516.6 million
     sebesar 8% menjadi US$516,6 juta dibandingkan dengan           compared to US$558.8 million in 2022 as fixed assets
     Tahun 2022 sebesar US$558,8 juta karena karena penurunan       decreased due to depreciation and investment in bonds.
     aset tetap yang berasal dari penyusutan dan investasi pada
     obligasi.




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             KILAS            LAPORAN          PROFIL       ANALISIS DAN               TATA KELOLA     LAPORAN             LAPORAN
             KINERJA          MANAJEMEN        PERUSAHAAN   PEMBAHASAN MANAJEMEN       PERUSAHAAN      KEBERLANJUTAN       KEUANGAN
             Performance      Management       Company      Management                 Corporate       Sustainability      Financial
             Overview         Report           Profile      Discussion And Analysis    Governance      Report              Report




Liabilitas                                                           Liabilities

Total liabilitas Perseroan menurun sebesar 35% menjadi               The Company's total liabilities decreased by 35% to US197.7
US$197,7 juta pada Tahun 2023 dibandingkan dengan                    million in 2023 compared to US$305.9 million in 2022.
US$305,9 juta pada Tahun 2022. Nilai liabilitas jangka               Current liabilities increased by 2% to US$124.6 million
pendek meningkat sebesar 2% menjadi US$124,6 juta                    compared to US$121.8 million in 2022 which resulted from
dibandingkan dengan US$121,8 juta pada Tahun 2022 yang               an increase in current maturity of long term bank loan, while
berasal dari peningkatan utang bank jangka panjang yang              non-current liabilities decreased by 60% to US$73.1 million
jatuh tempo dalam satu tahun, sementara liabilitas jangka            compared to US$184.1 million in 2022 due to decrease in
panjang menurun 60% menjadi US$73,1 juta dibandingkan                long-term bank loan.
dengan US$184,1 juta di Tahun 2022 karena penurunan
utang bank jangka panjang

Ekuitas                                                              Equity

Di Tahun 2023, Perseroan mencatatkan penurunan 5%                    In 2023, the Company recorded a 5% decrease in equity
pada ekuitas menjadi sebesar US$497,7 juta dibandingkan              to US$497.7 million compared to US$525.4 million in 2022.
Tahun 2022 sebesar US$525,4 juta. Penurunan tersebut                 The decrease was due to a decrease in profits in 2023.
antara lain disebabkan oleh penurunan laba di Tahun 2023.

Arus Kas                                                             Cash Flow

Perseroan mencatat penurunan kas bersih dari kegiatan                The Company recorded a decrease in net cash from operating
operasi pada tahun 2023 sebesar US$151,3 juta karena                 activities in 2023 of US$151.3 million due to lower LPG and
penurunan pendapatan LPG dan Amoniak. Kas bersih yang                Ammonia revenues. Net cash used in investing activities
digunakan untuk aktivitas investasi sebesar US$2,7 juta              amounted to US$2.7 million in 2023 for the acquisition of
pada Tahun 2023 untuk perolehan aset tetap dan pembayaran            fixed assets and payment to non-controlling interest
kepada kepentingan nonpengendali.

Perseroan mencatat kas bersih digunakan untuk aktivitas              The Company recorded net cash used in financing activities
pendanaan pada Tahun 2023 sebesar US$197,9 juta yang                 in 2023 of US$197.9 million which was used to repay bank
digunakan untuk pembayaran utang bank sebesar US$                    loans of US$134.5million.
134,5 juta.


                                    Rincian
                                                                                          2022                          2023
                                   Description
 Kas bersih diperoleh dari aktivitas operasi                                                 318.750.357                  151.299.686
 Net cash provided by operating activities
 Kas bersih digunakan untuk aktivitas investasi                                               (11.307.704)                (2.684.396)
 Net cash used in investing activities
 Kas bersih digunakan untuk aktivitas pendanaan                                            (240.764.782)                 (197.930.544)
 Net cash used in financing activities
 Kas dan setara kas awal tahun                                                                 80.841.178                 147.519.049
 Cash and cash equivalents at beginning of year
 Kas dan setara kas akhir tahun                                                              147.519.049                  98.203.795
 Cash and cash equivalents at end of year




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     Kemampuan Membayar Utang                                             Solvability

     Perseroan menggunakan rasio solvabilitas untuk mengukur              The Company uses the solvency ratio to measure the ability
     kemampuan membayar utang. Rasio liabilitas terhadap total            to pay debt. The ratio of liabilities to total assets in 2023
     aset pada Tahun 2023 tercatat sebesar 0,28, sementara                was recorded at 0.28, while the ratio of liabilities to equity
     rasio liabilitas terhadap ekuitas tercatat sebesar 0,40. Perseroan   was recorded at 0.40. The Company views that this ratio
     memandang bahwa rasio ini berada pada tingkat yang aman,             is at a safe level, however, the Company seeks to improve
     namun Perseroan berupaya agar tingkat kemampuan                      the ability to pay debts in the future.
     membayar utang lebih baik di masa yang akan datang.

     Tingkat Kolektibilitas Piutang                                       Collectibility

     Perseroan mencatat jumlah hari piutang 39,23 hari di mana            The Company recorded 39.23 days of receivables where
     piutang Perseroan pada Tahun 2023 tercatat sebesar                   the Company's receivables in 2023 were recorded at
     US$37,6 juta dibandingkan US$61,8 juta pada Tahun 2022.              US$37.6 million compared to US$61.8 million in 2022.

     Struktur Modal                                                       Capital Structure

     Perseroan mencatatkan struktur permodalan yang stabil dengan         The Company recorded a stable capital structure with an
     posisi ekuitas sebesar US$497,7 juta di Tahun 2023 dan US$525,4      equity position of US$497.7 million in 2023 and US$525.4
     juta di Tahun 2022. Perseroan memiliki komitmen untuk terus          million in 2022. The Company is committed to continuing
     menjaga struktur permodalan pada tingkat terbaik yang pada           to maintain its capital structure at the best level which in
     akhirnya akan membuat Perseroan memiliki kemampuan yang              turn will lead to a better ability to maintain business continuity.
     lebih baik dalam menjaga kesinambungan usaha.

     Ikatan Material untuk Investasi Barang Modal                         Material Ties for Capital Goods Investment

     Selama tahun 2023, Perseroan tidak memiliki ikatan material          During 2023, the Company has no material commitments
     untuk investasi barang modal.                                        for investment in capital goods.

     Investasi Barang Modal Tahun 2023                                    Capital Goods Investment in 2023

     Informasi secara rinci terkait investasi barang modal di Tahun       Detailed information related to investment in capital goods
     2023 telah disajikan dalam catatan nomor 10 pada laporan             in 2023 has been presented in note number 10 to the
     keuangan konsolidasian Perseroan.                                    Company's consolidated financial statements.

     Informasi dan Fakta Material setelah Tanggal                         Subsequent Events
     Laporan Akuntan

     Tidak ada informasi dan fakta material yang terjadi setelah          There were no material information and facts that occur
     tanggal laporan akuntan publik untuk tahun yang berakhir             after the date of the public accountant's report (subsequent
     pada 31 Desember 2023.                                               events) for the year ended 31 December 2023.

     Perbandingan antara Proyeksi 2023 dan                                Comparison between 2023 Forecast and
     Pencapaiannya                                                        Achievement

     Pada Tahun 2023, Perseroan mencatat pencapaian                       In 2023, the Company recorded revenue of US$345.0
     pendapatan sebesar US$345,0 juta dan laba bersih sebesar             million and net profit of US$48.9 million, a decrease from
     US$48,9 juta, menurun dibanding tahun sebelumnya dan                 the previous year and below target due to external factors
     di bawah target karena faktor eksternal yang di luar kendali         that were beyond the Company's control.
     Perseroan.



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            KILAS            LAPORAN        PROFIL        ANALISIS DAN               TATA KELOLA    LAPORAN           LAPORAN
            KINERJA          MANAJEMEN      PERUSAHAAN    PEMBAHASAN MANAJEMEN       PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
            Performance      Management     Company       Management                 Corporate      Sustainability    Financial
            Overview         Report         Profile       Discussion And Analysis    Governance     Report            Report




Prospek Usaha dan Target Tahun Mendatang                           Business Prospects and Target in the
                                                                   Following Year

Dalam outlook per Oktober 2023, International Monetary             In its outlook as of October 2023, the International Monetary
Fund (IMF) telah memperkirakan pertumbuhan ekonomi                 Fund (IMF) has estimated that global economic growth in
global di Tahun 2024 hanya mampu mencapai 2,9%, turun              2024 will only be able to reach 2.9%, down from the projection
dari proyeksi untuk Tahun 2023 sebesar 3%. Sementara               for 2023 of 3%. Meanwhile, the World Bank estimates that
Bank Dunia memperkirakan perekonomibal global di Tahun             the global economy in 2024 will only grow by 2.4%, a slight
2024 hanya tumbuh sebesar 2,4% sedikit naik dari Tahun             increase from 2023, when growth was only 2.1%. There are
2023 yang pertumbuhannya hanya sebesar 2,1%. Terdapat              a number of factors that risk suppressing global economic
sejumlah faktor yang berisiko menekan pertumbuhan                  growth, including the real estate sector crisis in China and
ekonomi global, antara lain krisis sektor real estat di Tiongkok   the geopolitical crisis that shows no signs of ending, and
dan krisis geopolitik yang tidak menunjukkan tanda-tanda           there is even a possibility of widening, which will lead to
berakhir, bahkan ada kemungkinan melebar sehingga akan             protectionist pressures and weaken global trade. For this
menimbulkan tekanan proteksionisme dan melemahkan                  reason, all countries are preparing themselves considering
perdagangan global. Untuk itu, seluruh negara tengah               that the pressure in 2024 is not easier than in 2023.
mempersiapkan diri mengingat tekanan di Tahun 2024
tidak lebih mudah dengan Tahun 2023.

Risiko dan ketidakpastian global menciptakan tekanan juga          Global risks and uncertainties also create pressure for the
bagi perekonomian nasional. Bank Dunia memperkirakan               national economy. The World Bank estimates that Indonesia's
pertumbuhan ekonomi Indonesia akan melambat menjadi                economic growth will slow down to 4.9% in 2024. Some of
4,9% pada Tahun 2024. Beberapa faktor yang mempengaruhi            the factors influencing the forecast include weakening trade
perkiraan tersebut antara lain adalah melemahnya nilai tukar       exchange rates, weakening commodity prices, and a global
perdagangan, melemahnya harga komoditas, serta                     economic slowdown that could hamper exports. Geopolitical
perlambatan ekonomi global yang bisa menghambat ekspor.            uncertainty and climate change could disrupt global supply
Ketidakpastian geopolitik dan perubahan iklim dapat                chains, possibly reducing state revenues and tightening
menganggu rantai pasok global, sehingga mungkin                    Indonesia's fiscal position in 2024.
mengurangi penerimaan negara dan memperketat posisi
fiskal Indonesia di Tahun 2024.

Perseroan menargetkan produksi Amoniak dan LPG tetap               The Company expects Ammonia and LPG production to
stabil dengan produksi 15% di atas kapasitas terpasang,            remain stable with production 15% above installed capacity,
dan harga komoditas diproyeksikan akan membaik. Di                 and commodity prices are projected to be better. In the
sektor LPG, Perseroan telah menandatangani Amandemen               LPG sector, the company has signed an Amendment to the
Perjanjian Jual Beli Gas (PJBG) dengan PT Pertamina EP             Gas Sales and Purchase Agreement (GSPA) with PT Pertamina
yang mengamankan pasokan Gas Perseroan hingga Tahun                EP, securing the gas supply for the company until 2027.
2027 mendatang, dimana Perseroan berhak memperoleh                 Under this agreement, the company is entitled to obtain 70
Gas sebanyak 70 MMSCF per hari dengan Total Kontrak                MMSCF of gas per day, with a Total Contract Quantity of
Keseluruhan (Total Contract Quantity) sebesar 456,81 BSCF.         456.81 BSCF.

Pasokan Amoniak diperkirakan akan tetap terbatas hingga            Ammonia supply is expected to remain limited until the end
akhir Tahun 2023 dan diharapkan terdapat kenaikan                  of 2023 and an increase in demand is expected in 2024,
permintaan di Tahun 2024, namun situasi ini akan bergantung        but this situation will depend on the development of the
pada perkembangan situasi ekonomi di Tiongkok. Studi               economic situation in China. The Blue Ammonia project
kelayakan proyek Amoniak Biru akan terus berlanjut dimana          feasibility study will continue with phase 1 completed and
fase 1 telah selesai dan fase 2 sedang berlangsung. Merujuk        phase 2 underway. Referring to the Blue Ammonia project
timeline proyek Amoniak Biru, proyek ini diharapkan akan           timeline, the project is expected to be completed in early
selesai pada awal Tahun 2027.                                      2027.




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     Secara konsolidasi produk Amoniak dari anak perusahaan           On a consolidated basis, Ammonia products from subsidiaries
     akan menjadi kontributor pendapatan yang dapat mengangkat        will be a revenue contributor that can significantly lift the
     kinerja Perseroan secara signifikan. Perseroan akan              Company's performance. The Company will prioritize
     memprioritaskan pengurangan biaya yang terkendali dan            controlled cost reduction and operational excellence, as
     peningkatan keunggulan operasional, serta melakukan              well as explore opportunities in more downstream gas
     eksplorasi peluang di lebih banyak proyek hilir gas.             projects.

     Aspek Pemasaran                                                  Marketing Aspect

     ESSA adalah perusahaan yang bergerak di bidang Energi dan        ESSA is an Energy and Chemicals company with business
     Kimia dengan portofolio bisnis di bidang penyulingan LPG dan     portfolios in LPG refining and Ammonia production. The
     produksi Amoniak. Perseroan tetap berkomitmen untuk              Company remains committed to advancing a clean energy
     memajukan masa depan energi bersih, mengambil langkah            future, taking a significant step forward with the
     maju yang signifikan dengan dimulainya Proyek Amoniak Biru,      commencement of the Blue Ammonia Project, which is the
     yang menjadi transformasi fasilitas produksi Amoniak eksisting   transformation of the Company's existing Ammonia production
     Perseroan menjadi fasilitas produksi Amoniak Biru. Perseroan     facility into a Blue Ammonia production facility. The Company
     telah berhasil menyelesaikan tahap awal studi bawah permukaan    has successfully completed the initial phase of subsurface
     dan saat ini melanjutkan pemeriksaan komprehensif terhadap       studies and is currently continuing a comprehensive
     reservoir dan elemen struktur.                                   examination of the reservoir and structural elements.

     Untuk mencapai operasional yang konsisten, unggul dan            To achieve consistent, superior and safe operations, the
     aman, Perseroan menerapkan:                                      Company implemented:
        • Pengoperasian kilang yang stabil dengan zero plant             • Stable plant operations with zero plant trips and
           trip & excellent safety record                                   excellent safety record.
        • Mempertahankan keunggulan operasional pabrik                   • Maintaining the operational excellence of the
           Amoniak sebagai pabrik Amoniak greenfield pertama                Ammonia plant as the world's first greenfield Ammonia
           di dunia yang menggunakan reforming exchanger                    plant utilizing reforming exchanger system & purifier
           system & purifier technology                                     technology.

     Pada tahun 2023, Korea Selatan, Tiongkok, dan Taiwan             In 2023, South Korea, China, and Taiwan together accounted
     secara keseuruhan berkontribusi lebih dari 85% terhadap          for more than 85% of the Company's sales volume,
     volume penjualan Perseroan, yang menunjukkan sedikit             representing a slight change from 2022, when South Korea
     perubahan dari tahun 2022, dimana Korea Selatan dan              and Taiwan alone accounted for approximately 70%.
     Taiwan memberikan kontribusi sekitar 70%.

     Kebijakan dan Pembagian Dividen                                  Dividend Policy and Distribution

     Keputusan mengenai pembagian dividen diatur dalam                Decisions regarding dividend distribution are stipulated in the
     Peraturan perundang-undangan di Indonesia dan Anggaran           laws and regulations in Indonesia and the Company's Articles
     Dasar Perseroan, di mana keputusan mengenai pembagian            of Association, where the decision on dividend distribution is
     dividen ditetapkan melalui persetujuan pemegang saham            determined through shareholder approval at the Annual
     pada RUPS Tahunan berdasarkan rekomendasi dari Direksi           General Meeting of Shareholders based on a recommendation
     Perseroan. Perseroan dapat membagikan dividen pada               from the Company's Board of Directors. The Company may
     tahun di mana Perseroan mencatatkan laba bersih, dengan          distribute dividends in the year in which the Company records
     penentuan jumlah dan pembayaran dividen kas tersebut,            net income, by determining the amount and payment of cash
     akan bergantung pada rekomendasi dari Direksi Perseroan          dividends, it will depend on the recommendation of the
     dan beberapa faktor yang memperhatikan dan                       Company's Board of Directors and several factors that take
     mempertimbangkan tingkat kesehatan keuangan Perseroan,           into account and consider the level of the Company's financial
     tingkat kecukupan modal, kebutuhan dana Perseroan untuk          soundness, the level of capital adequacy, the need for Company
     ekspansi usaha lebih lanjut, tanpa mengurangi hak dari           funds for business expansion, without prejudice to the right
     RUPS untuk menentukan lain sesuai dengan Anggaran                of the GMS to determine otherwise in accordance with the
     Dasar Perseroan.                                                 Articles of Association of the Company.


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            KILAS          LAPORAN        PROFIL       ANALISIS DAN               TATA KELOLA      LAPORAN           LAPORAN
            KINERJA        MANAJEMEN      PERUSAHAAN   PEMBAHASAN MANAJEMEN       PERUSAHAAN       KEBERLANJUTAN     KEUANGAN
            Performance    Management     Company      Management                 Corporate        Sustainability    Financial
            Overview       Report         Profile      Discussion And Analysis    Governance       Report            Report




Dividen dapat dibayarkan secara tunai, penerbitan saham         Dividends can be paid in cash, issued dividend shares, or
dividen atau kombinasi dari keduanya. Direksi dapat             a combination of the two. The Board of Directors may
mengubah kebijakan dividen sewaktu-waktu sepanjang              change the dividend policy at any time as long as it has
mendapat persetujuan dari pemegang saham dalam RUPS.            the approval of the shareholders at the GMS. All issued
Seluruh saham Perseroan yang telah ditempatkan dan              and fully paid shares of the Company have the same and
disetor penuh mempunyai hak yang sama dan sederajat             equal rights, including the right to distribute dividends. There
termasuk hak atas pembagian dividen. Tidak ada batasan          are no restrictions that can prevent the Company from
yang dapat menghambat Perseroan untuk melakukan                 distributing dividends to Shareholders in connection with
pembagian dividen kepada Pemegang Saham sehubungan              third party restrictions.
dengan pembatasan pihak ketiga.

Berdasarkan keputusan RUPST Perseroan pada tanggal 15           Based on the resolution of the Company's AGMS on 15
Maret 2023, Perseroan membagikan dividen tertinggi yang         March 15 2023, the Company distributed the highest ever
pernah dilakukan Perseroan senilai Rp775.213.906.500            dividend of Rp775,213,906,500 or Rp45 per share,
atau sebesar Rp45 per saham, sekitar 23,3% dari Laba            approximately 23.3% of Net Income for the fiscal year 2022.
Bersih tahun buku 2022. Pembayaran dividen tunai tersebut       The cash dividend payment was completed on 5 April 5
telah selesai dilakukan pada 5 April 2023.                      2023.

Berikut adalah rincian pembagian dividen dalam 2 (dua)          Below is the detail of dividend distribution in the last 2 (two)
tahun terakhir:                                                 years:

                                                                                 Jumlah Dividen            Dividen per Saham
      Tahun Buku              Jenis Dividen         Tanggal Pembagian
                                                                                  Total Dividend           Dividend per Share
       Fiscal Year           Type of Dividend        Distribution Date
                                                                                       (Rp)                       (Rp)
         2022                     Tunai                28 Juni 2022                 78.304.435.000                               5
                                  Cash                 28 June 2022
         2023                     Tunai                 5 April 2023                775.213.906.500                              45
                                  Cash                  5 April 2023


Informasi Material terkait Investasi, Ekspansi,                 Material Information on Investment,
Divestasi, Penggabungan/Peleburan Usaha,                        Expansion, Divestment, Business Mergers,
Akuisisi, Restrukturisasi Utang/Modal                           Acquisition, Debt/Capital Restructuring

Pada Tahun 2023, telah menyelesaikan Penambahan Modal           In 2023, The company has successfully completed the
Tanpa Memberikan Hak Memesan Efek Terlebih Dahulu               Capital Increase without Preemptive Rights (PMTHMETD).
(PMTHMETD). Dimana Perseroan menerbitkan 1.566.088.700          In this process, the company issued 1,566,088,700 new
saham baru, dengan harga pelaksanaan Rp1.025 per saham.         shares at an exercise price of Rp1,025 per share.

Selain itu Perseroan juga telah menyelesaikan akuisisi          The Company also completed the acquisition of an additional
tambahan 10% saham PT Panca Amara Utama (PAU). Dengan           10% stake in PT Panca Amara Utama (PAU). With the
selesainya proses akuisisi tersebut, total kepemilikan saham    completion of the acquisition process, ESSA's total
ESSA di PAU yang sebelumnya 60% meningkat menjadi               shareholding in PAU which was previously 60% increased
70%. Selain akuisisi tambahan tersebut, tidak terdapat          to 70%. In addition to that additional acquisition, there were
informasi material lainnya di Tahun 2023.                       no other material information in 2023.




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     Realisasi Penggunaan Dana Hasil Penawaran                       Realization of Public Offering Fund Proceeds
     Umum

     Sepanjang Tahun 2023, Perseroan tidak memiliki kewajiban        Throughout 2023, the Company has no obligation to submit
     untuk menyampaikan realisasi penggunaan dana hasil              the realization of the use of proceeds from the public offering.
     penawaran umum. Perseroan telah melunasi kewajibannya           The Company has paid off its obligations for all public
     atas seluruh penawaran umum yang dilakukan dan sudah            offerings conducted and has been reported to the regulator.
     dilaporkan kepada regulator.

     Transaksi dengan Pihak Afiliasi                                 Transaction with Affiliated Parties

     Dalam kegiatan usaha yang normal, Perusahaan melakukan          In normal course of business, the Company entered into
     transaksi dengan pihak berelasi dengan menggunakan              transactions with related parties, and it has been conducted
     kebijakan harga dan syarat disetujui oleh kedua belah pihak,    based on terms agreed by the parties, which may not be
     yang mungkin tidak sama dengan transaksi lain yang dilakukan    the same as those of the transactions between unrelated
     dengan pihak-pihak yang tidak berelasi. Direksi berpendapat     parties. The Board of Directors believes that all affiliated
     seluruh transaksi afiliasi yang dilakukan Perseroan sepanjang   transactions carried out by the Company throughout 2023
     Tahun 2023 sudah dilakukan pada nilai yang wajar (arm’s         have been carried out at a fair value (arm’s length) and the
     length) dan berlaku sama apabila transaksi serupa dilakukan     same rules also apply if similar transactions are carried out
     dengan pihak yang tidak terafiliasi.                            with unaffiliated parties.

     Ringkasan pihak-pihak yang berelasi, sifat hubungan berelasi    The summary of related parties, relationship with the related
     dan jenis transaksinya yang signifikan pada Tahun 2023          parties and nature of the significant transactions in years
     dan 2022 telah disajikan dalam catatan nomor 28 pada            2023 and 2022 has been disclosed in the notes number
     laporan keuangan konsolidasian Perseroan. Semua transaksi       28 in the Company's consolidated financial statements. All
     yang dilakukan dengan pihak-pihak berelasi merupakan            transactions made with related parties are regular transactions
     transaksi yang bersifat rutin sebagai bagian dari kegiatan      as part of the Company’s business activities.
     usaha Perseroan.

     Transaksi yang Mengandung Benturan                              Transaction with Conflict of Interest
     Kepentingan

     Per 31 Desember 2023, Perseroan mencatat adanya transaksi       As of December 31, 2023, the Company recorded an affiliated
     afiliasi yaitu PMT HMETD, dimana keterbukaan informasinya       transaction, namely PMT HMETD, for which information
     telah diumumkan pada situs website Perseroan dan Bursa          disclosure has been announced on the Company's website
     Efek Indonesia pada link https://essa.id/wp-content/            and the Indonesian Stock Exchange at the link https://essa.
     uploads/2023/02/Tambahan-KI-Atas-PMTHMETD-2-1.pdf               id/wp-content/uploads/2023/02/Tambahan-KI-Atas-
                                                                     PMTHMETD-2-1.pdf

     Perubahan Peraturan                                             Change in Regulation

     Perseroan menegaskan tidak ada perubahan peraturan              The Company discloses that there were no regulatory
     yang berpengaruh signifikan pada aktivitas Perseroan yang       changes that affected the Company's activities significantly
     diterbitkan selama Tahun 2023.                                  during 2023.

     Perubahan Kebijakan Akuntansi                                   Change in Accounting Policy

     Pada Tahun 2023, Perseroan telah menerapkan sejumlah            In 2023, the Company has implemented a number of
     amandemen, penyesuaian tahunan dan interpretasi PSAK            amendments, annual adjustments and PSAK interpretations
     yang relevan dengan operasinya dan efektif untuk periode        that are relevant to its operations and are effective for
     akuntansi yang dimulai pada atau setelah 1 Januari 2023.        accounting periods beginning on or after January 1, 2023.



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KILAS         LAPORAN      PROFIL       ANALISIS DAN               TATA KELOLA    LAPORAN           LAPORAN
KINERJA       MANAJEMEN    PERUSAHAAN   PEMBAHASAN MANAJEMEN       PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
Performance   Management   Company      Management                 Corporate      Sustainability    Financial
Overview      Report       Profile      Discussion And Analysis    Governance     Report            Report




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       05
                                                     TATA KELOLA
                                                     PERUSAHAAN
                                                     CORPORATE
                                                     GOVERNANCE
                                     102   Landasan Tata Kelola Perusahaan              161   Kebijakan Benturan Kepentingan
                                           Corporate Governance Foundation                    Conflict of Interest Policy [GRI 2-15]
                                     107   Struktur GCG                                 162   Sistem Pelaporan Pelanggaran
                                           GCG Structure [GRI 2-9]                            Whistleblowing System [GRI 2-16, 2-26]
                                     108   Rapat Umum Pemegang Saham                    162   Transaksi Orang Dalam,
                                           General Meeting of Shareholders [GRI 2-11]         Anti Korupsi, Dan Anti Kecurangan
                                     119   Paparan Publik Tahunan                             Insider Transactions, Anti-Corruption,
                                           Annual Public Expose                               and Anti-Fraud [GRI 204-3]

                                     120   Dewan Komisaris                              163   Kebijakan Pemberian
                                           Board of Commissioners                             Dana Untuk Kegiatan Politik
                                                                                              Policy on Funding for Political Activities
                                     128   Direksi
                                           Board of Directors [GRI 2-11]                164   Kebijakan Pengadaan Barang dan Jasa
                                                                                              Policy of Procurement of Goods and Services
                                     136   Nominasi dan Remunerasi
                                           Dewan Komisaris dan Direksi                  163   Kebijakan Pemberian Kompensasi
                                           Nomination and Remuneration of The Baord           Jangka Panjang Berbasis Kinerja Kepada
                                           of Commissioners and Board of Directors            Manajemen Dan/Atau Karyawan
                                           [GRI 2-10, 2-19, 2-20, 2-21]                       Policy of Providing Long-Term
                                                                                              Performance-Based Compensation
                                     138   Komite di Bawah Dewan Komisaris                    to Management and/or Employees
                                           Committees Under The Board
                                           of Commissioners                             164   Kebijakan Pengungkapan Informasi
                                                                                              Kepemilikan Saham Anggota Dewan
                                     148   Sekretaris Perusahaan                              Komisaris Dan Direksi
                                           Corporate Secretary                                Information Disclosure Policy on Share
                                     153   Unit Audit Internal                                Ownership by Members of The Board of
                                           Internal Audit Unit                                Commissioners and Board of Directors
                                     157   Audit Eksternal                              165   Pelaksanaan Rekomendasi Peraturan OJK
                                           External Audit                                     Nomor 21POJK.04/2015 Tentang Penerapan
                                                                                              Pedoman Tata Kelola Perusahaan Terbuka dan
                                     158   Manajemen Risiko                                   Surat Edaran OJK Nomor 32/SEOJK.04/2015
                                           Risk Management                                    Tentang Pedoman Tata Kelola Perusahaan
                                     160   Perkara Hukum                                      Terbuka
                                           Legal Disputes [GRI 2-27]                          Implementation of Recommendations to OJK
                                     160   Sanksi Administratif                               Regulation Number 21 POJK.04/2015
                                           Administrative Sanctions [GRI 2-27]                Concerning Implementation of Guidelines
                                                                                              for Good Corporate Governance and OJK
                                     161   Kode Etik                                          Circular Letter Number 32/SEOJK.04/2015
                                           Code of Ethics                                     Concerning Guidelines for Good Corporate
                                                                                              Governance




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      Landasan Tata Kelola Perusahaan
      Corporate Governance Foundation




      Perseroan berkomitmen menempatkan GCG sebagai fondasi         The Company is committed to put GCG as the main foundation
      utama dalam menjalankan bisnis. Penerapan GCG mengacu         in running its business. The implementation of GCG refers
      pada pedoman dan standar tata kelola perusahaan yang          to the applicable corporate governance guidelines and
      berlaku, antara lain adanya kerja sama dan hubungan yang      standards, including cooperation and good relations between
      baik antara fungsi pengurusan dan fungsi pengawasan           the management function and the supervisory function in
      dalam organ GCG. Prinsip-prinsip dasar GCG sesuai dengan      the GCG organs. The basic principles of GCG according to
      pembaharuan Pedoman Umum Governansi Korporat                  General Guideline of Indonesian Corporate Governance
      Indonesia (PUGKI) tersebut meliputi:                          (PUGKI) include:

      1. Perilaku Beretika, dengan senantiasa mengedepankan         1.   Ethical Behaviour, by always prioritizes honesty, treats
         kejujuran, memperlakukan semua pihak dengan hormat,             all parties with respect, fulfills commitments, builds and
         memenuhi komitmen, membangun dan menjaga nilai-                 maintains moral values and trust consistently, as well
         nilai moral dan kepercayaan secara konsisten, serta             as pays attention to the interests of shareholders and
         memperhatikan kepentingan pemegang saham dan                    other stakeholders based on the principles of fairness
         pemangku kepentingan lainnya berdasarkan asas                   and equality (fairness) and is managed independently.
         kewajaran dan kesetaraan dan dikelola secara
         independen.
      2. Akuntabilitas, melalui kejelasan fungsi, pelaksanaan dan   2. Accountability, through clarity of functions, implementation,
         pertanggungjawaban organisasi perusahaan sehingga             and accountability of company organizations so that
         pengelolaan terlaksana secara efektif.                        management is carried out effectively.
      3. Keterbukaan, melalui keterbukaan dalam melaksanakan        3. Transparency, through openness in carrying out the
         proses pengambilan keputusan dan keterbukaan dalam            decision-making process and openness in presenting
         mengemukakan informasi yang relevan mengenai                  relevant information about the Company.
         Perseroan.
      4. Keberlanjutan, dengan mematuhi peraturan perundang-        4. Sustainability, by complies with laws and regulations
         undangan serta berkomitmen melaksanakan tanggung              and is committed to carrying out its responsibilities
         jawab terhadap masyarakat dan lingkungan agar                 towards society and the environment in order to contribute
         berkontribusi pada pembangunan berkelanjutan melalui          to sustainable development by working with all relevant
         kerjasama dengan semua pemangku kepentingan terkait           stakeholders to improve their lives in a way that is
         untuk meningkatkan kehidupan mereka dengan cara               aligned with business interests and the sustainable
         yang selaras dengan kepentingan bisnis dan agenda             development agenda.
         pembangunan berkelanjutan.


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             KILAS         LAPORAN        PROFIL        ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
             KINERJA       MANAJEMEN      PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
             Performance   Management     Company       Management                     Corporate      Sustainability    Financial
             Overview      Report         Profile       Discussion And Analysis        Governance     Report            Report




Dalam pandangan Perseroan, efektivitas penerapan Good             In the Company's view, the effectiveness of the implementation
Corporate Governance (“GCG”) dapat dilihat dari adanya            of Good Corporate Governance (“GCG”) can be seen from
keselarasan kecukupan struktur dan infrastruktur tata kelola,     the alignment of the adequacy of the governance structure
sehingga GCG dapat memberikan hasil yang sesuai dengan            and infrastructure, so that GCG can provide results in
harapan para pemangku kepentingan. Struktur yang kuat             accordance with the expectations of stakeholders. A strong
dapat dimulai dengan kepatuhan terhadap ketentuan hukum           structure can start with compliance with existing legal
yang ada dan mengikat Perseroan dalam melaksanakan                provisions and bind the Company in carrying out business
aktivitas bisnis, yang meliputi:                                  activities, which include:

1.   Undang-Undang No. 40 Tahun 2007 Tentang Perseroan            1. Law No. 40 of 2007 concerning Limited Liability
     Terbatas sebagaimana telah diubah dengan Undang-                Companies as amended by Law No. 11 of 2020 concerning
     Undang No. 11 Tahun 2020 tentang Cipta Kerja (“UU               Job Creation (“Limited Liability Companies Law”);
     PT”);
2.   Undang-Undang No. 22 Tahun 2001 tentang Minyak               2. Law No. 22 of 2001 concerning Oil and Gas as amended
     dan Gas Bumi sebagaimana telah diubah dengan Undang-            by Law No. 11 of 2020 concerning Job Creation (“Oil
     Undang No. 11 Tahun 2020 tentang Cipta Kerja (“UU               and Gas Law”);
     Migas”);
3.   Undang-Undang No. 8 Tahun 1995 tentang Pasar Modal           3. Law No. 8 of 1995 concerning the Capital Market as
     sebagaimana telah diubah beberapa kali terakhir dengan           amended several times, most recently by Law no. 9 of
     Undang-Undang No. 9 Tahun 2017 tentang Penetapan                 2017 concerning Stipulation of Government Regulation
     Peraturan Pemerintah Pengganti Undang-Undang No.                 in Lieu of Law No. 1 of 2017 concerning Access to
     1 Tahun 2017 tentang Akses Informasi Keuangan Untuk              Financial Information for Tax Purposes (“Capital Market
     Kepentingan Perpajakan (“UU Pasar Modal”);                       Law”);
4.   Undang-Undang Nomor 21 Tahun 2011 tentang Otoritas           4. Law No. 21 of 2011 concerning the Financial Services
     Jasa Keuangan sebagaimana telah diubah beberapa                  Authority as amended several times, most recently by
     kali terakhir dengan Undang-Undang No. 7 Tahun 2021              Law no. 7 of 2021 concerning Harmonization of Tax
     tentang Harmonisasi Peraturan Perpajakan (“UU OJK”);             Regulations (“OJK Law”);
5.   Pedoman Umum Good Corporate Governance Indonesia             5. General Guidelines for Indonesian Good Corporate
     Tahun 2006 yang dikeluarkan oleh Komite Nasional                 Governance 2006 issued by National Committee on
     Kebijakan Governance (KNKG) (“Pedoman GCG”);                     Governance Policy (KNKG) (“GCG Guidelines”);
6.   Keputusan Ketua BAPEPAM-LK No. KEP-346/BL/2011               6. Decree of the Chairman of BAPEPAM-LK No. KEP-346/
     Tentang Penyampaian Laporan Keuangan Berkala Emiten              BL/2011 regarding Submission of Periodic Financial
     atau Perusahaan Publik (“KEP BAPEPAM-LK 346/2011”);              Statements of Issuers or Public Companies (“KEP
                                                                      BAPEPAM-LK 346/2011”);
7. Peraturan Otoritas Jasa Keuangan No. 33/ POJK.04/2014          7. Financial Services Authority Regulation No. 33/
   Tentang Direksi dan Dewan Komisaris Emiten atau                    POJK.04/2014 regarding the Board of Directors and
   Perusahaan Publik (“POJK 33/2014”);                                Board of Commissioners of Issuers or Public Companies
                                                                      (“POJK 33/2014”);
8. Peraturan Otoritas Jasa Keuangan Nomor 35/                     8. Financial Services Authority Regulation No. 35/
    POJK.04/2014 Tentang Sekretaris Perusahaan Emiten                 POJK.04/2014 regarding the Corporate Secretary of
    atau Perusahaan Publik ("POJK 35/2014”);                          Issuers or Public Companies (“POJK 35/2014”);
9. Peraturan Otoritas Jasa Keuangan No. 8/POJK.04/2015            9. Financial Services Authority Regulation No. 8/
    Tentang Situs Web Emiten atau Perusahaan Publik                   POJK.04/2015 regarding Website of Issuers or Public
    (“POJK 8/2015”);                                                  Companies (“POJK 8/2015”);
10. Peraturan Otoritas Jasa Keuangan Nomor 31/POJK.04/2015        10. Financial Services Authority Regulation No. 31/
    Tentang Keterbukaan atas Informasi atau Fakta Material            POJK.04/2015 regarding Disclosure of Material
    oleh Emiten atau Perusahaan Publik (“POJK 31/2015”);              Information or Facts by Issuers of Public Companies
                                                                      (“POJK 31/2015”);
11. Peraturan Otoritas Jasa Keuangan No. 55/POJK.04/2015          11. Financial Services Authority Regulation No. 55/
    tanggal 23 Desember 2015 Tentang Pembentukan dan                  POJK.04/2015 dated 23 December 2015 regarding the
    Pedoman Pelaksanaan Kerja Komite Audit (“POJK                     Formation and Working Guidelines for the Audit
    55/2015”);                                                        Committee (“POJK 55/2015”);


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      12. Peraturan Otoritas Jasa Keuangan No. 56/POJK.04/2015     12. Financial Services Authority Regulation No. 56/
          tanggal 23 Desember 2015 Tentang Pembentukan dan             POJK.04/2015 dated 23 December 2015 regarding the
          Pedoman Penyusunan Piagam Unit Audit Internal (“POJK         Formation and Guidelines for the Preparation of Internal
          56/2015”);                                                   Audit Charter (“POJK 56/2015”);
      13. Peraturan Otoritas Jasa Keuangan Nomor 21/POJK.04/2015   13. Financial Services Authority Regulation No. 21/
          Tentang Penerapan Pedoman Tata Kelola Perusahaan             POJK.04/2015 concerning Implementation of Public
          Terbuka.                                                     Company Governance Guidelines;
      14. Surat Edaran Otoritas Jasa Keuangan Nomor 32/            14. Circular Letter of Financial Services Authority No. 32/
          SEOJK.04/2015 Tentang Pedoman Tata Kelola Perusahaan         SEOJK.04/2015 regarding Guidelines for Corporate
          (“SEOJK 32/2015”);                                           Governance (“SEOJK 32/2015”);
      15. Peraturan Otoritas Jasa Keuangan Nomor 29/               15. Financial Services Authority Regulation No. 29/
          POJK.04/2016 Tentang Laporan Tahunan Emiten atau             POJK.04/2016 regarding the Annual Report of Issuers
          Perusahaan Publik (“POJK 29/2016”);                          or Public Companies (“POJK 29/2016”);
      16. Peraturan Otoritas Jasa Keuangan Nomor 11/POJK.04/2017   16. Financial Services Authority Regulation No. 11/
          Tentang Laporan Kepemilikan Atau Setiap Perubahan            POJK.04/2017 regarding Ownership Reports or any
          Kepemilikan Saham Perusahaan Terbuka (“POJK 11/2017”);       Changes in Ownership of Public Company Shares (“POJK
                                                                       11/2017”);
      17. Peraturan Otoritas Jasa Keuangan No.15/POJK.04/2020      17. Financial Services Authority Regulation No. 15/
          Tentang Rencana Dan Penyelenggaraan Rapat Umum               POJK.04/2020 Regarding the Plan and Implementation
          Pemegang Saham Perusahaan Terbuka (“POJK 15/2020”);          of the General Meeting of Shareholders of Public
                                                                       Companies (“POJK 15/2020”);
      18. Peraturan Otoritas Jasa Keuangan No. 16/POJK.04/2020     18. Financial Services Authority Regulation No. 16/
          Tentang Pelaksanaan Rapat Umum Pemegang Saham                POJK.04/2020 Regarding the Implementation of the
          Perusahaan Terbuka Secara Elektronik (“POJK 16/2020”);       Electronic General Meeting of Shareholders of Public
                                                                       Companies (“POJK 16/2020”);
      19. Peraturan Otoritas Jasa Keuangan No. 17/ POJK.04/2020    19. Financial Services Authority Regulation No. 17/
          Tentang Transaksi Material dan Perubahan Kegiatan            POJK.04/2020 Regarding Material Transactions and
          Usaha Utama (“POJK 17/2020”); dan                            Changes in Main Business Activities (“POJK 17/2020”);
                                                                       and
      20. Peraturan Otoritas Jasa Keuangan No. 42/POJK.04/2020     20. Financial Services Authority Regulation No. 42/POJK.04/2020
          Tentang Transaksi Afiliasi dan Transaksi Benturan            Regarding Affiliated Transactions and Conflict of Interest
          Kepentingan (“POJK 42/2020”).                                Transactions (“POJK 42/2020”).

      PERUBAHAN DAN/ATAU PENAMBAHAN                                CHANGES AND/OR ADDINGS TO LAW
      PERATURAN PERUNDANG-UNDANGAN                                 REGULATIONS

      Perusahaan selalu mengikuti perkembangan peraturan           The Company always follows the development of laws and
      perundang-undangan serta melakukan segala tindakan           regulations and takes all necessary actions to adapt to the
      yang diperlukan guna menyesuaikan dengan perkembangan        development of legislation if necessary. Additions and/or
      perundang-undangan apabila diperlukan. Penambahan dan/       changes to the Laws and Regulations related to Public
      atau perubahan Peraturan Perundang-undangan yang terkait     Companies in 2023 include:
      Perusahaan Publik di Tahun 2023 antara lain:

      1.	​Undang-Undang Nomor 6 Tahun 2023 tentang Penetapan       1.   Law No. 6 of 2023 on the Stipulation of Government
          Peraturan Pemerintah Pengganti Undang-Undang Nomor            Regulation in Lieu of Law Number 2 of 2022 concerning
          2 Tahun 2022 tentang Cipta Kerja menjadi Undang-              Job Creation into Law.
          Undang.
      2. Surat Keputusan Direksi BEI Nomor Kep-00057/BEI/03-       2. IDX Board of Directors Decree Number Kep-00057 / IDX /
          2023 tentang Pencabutan Kebijakan Relaksasi Batas           03-2023 concerning the Revocation of the Relaxation Policy
          Waktu Penyampaian Laporan Keuangan dan Laporan              for the Deadline for Submission of Financial Statements
          Tahunan Perusahaan Tercatat dan Penerbit.                   and Annual Reports of Listed Companies and Issuers.


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           KILAS          LAPORAN       PROFIL       ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
           KINERJA        MANAJEMEN     PERUSAHAAN   PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
           Performance    Management    Company      Management                     Corporate      Sustainability    Financial
           Overview       Report        Profile      Discussion And Analysis        Governance     Report            Report




3. Surat Otoritas Jasa Keuangan Nomor S-68/D.04/2023           3. Financial Services Authority Letter Number S-68/D.04/2023
   tentang Keberlakuan Kebijakan Relaksasi Dalam Menjaga          concerning the Applicability of Relaxation Policy in
   Kinerja dan Stabilitas Pasar Modal Akibat Penyebaran           Maintaining Capital Market Performance and Stability
   Corona Virus Disease 2019.                                     Due to the Spread of Corona Virus Disease 2019.

4. Peraturan Otoritas Jasa Keuangan Republik Indonesia         4. Regulation of the Financial Services Authority of the
   Nomor 9 Tahun 2023 Tentang Penggunaan Jasa Akuntan             Republic of Indonesia Number 9 of 2023 concerning
   Publik dan Kantor Akuntan Publik dalam Kegiatan Jasa           the Use of Public Accountant Services and Public
   Keuangan.                                                      Accounting Firms in Financial Services Activities.

5. Surat Edaran Otoritas Jasa Keuangan​​Republik Indonesia     5. Circular Letter of the Financial Services Authority of the
   Nomor 12/SEOJK.04/2023 tentang Tata Cara                       Republic of Indonesia Number 12/SEOJK.04/2023
   Penyelenggaraan Perdagangan Karbon Melalui Bursa               concerning Procedures for Implementing Carbon Trading
   Karbon.                                                        Through Carbon Exchanges.

6. Peraturan Otoritas Jasa Keuangan Republik Indonesia         6. Regulation of the Financial Services Authority of the
   Nomor 14 Tahun 2023 tentang Perdagangan Karbon                 Republic of Indonesia Number 14 of 2023 concerning
   Melalui Bursa Karbon                                           Carbon Trading Through Carbon Exchanges.

7. Surat Edaran BEI No. SE-00010/BEI/07-2023 tentang           7. IDX Circular Letter SE-00010/BEI/07-2023 dated 31 July
   Penjelasan atas Ketentuan Terkait Pencatatan Saham             2023 about Explanation of Provisions Regarding the
   dan Efek Bersifat Ekuitas Selain Saham yang Diterbitkan        Listing of Shares and Equity-Type Securities Other than
   oleh Perusahaan Tercatat.                                      Shares Issued by Listed Companies.

8. Peraturan Otoritas Jasa Keuangan Republik Indonesia         8. Regulation of the Financial Services Authority of the
   Nomor 16 Tahun 2023 Tentang Penyidikan Tindak Pidana           Republic of Indonesia Number 16 of 2023 concerning
   di Sektor Jasa Keuangan.                                       Investigation of Criminal Acts in the Financial Services
                                                                  Sector.

9. Peraturan Menteri Keuangan Nomor 66 Tahun 2023              9. Regulation of the Minister of Finance No. 66 of 2023
   tentang Perlakuan Pajak Penghasilan atas Penggantian           concerning Income Tax Treatment of Reimbursement
   atau Kompensasi Sehubungan dengan Pekerjaan atau               or Compensation in Relation to Work or Services Received
   Jasa yang Diterima atau Diperoleh dalam Bentuk Barang          or Obtained in Kind and/or Enjoyment.
   dan/atau Kesenangan.

10. Peraturan Menteri Perindustrian Nomor 11 Tahun 2023        10. Regulation of the Minister of Industry No. 11 of 2023
    tentang Standar Industri Hijau Industri Amoniak dan            concerning Green Industry Standard for Ammonia
    Industri Pupuk Urea, Pupuk Sp-36, Dan Pupuk Amonium            Industry and Urea Fertilizer Industry, Sp-36 Fertilizer,
    Sulfat.                                                        And Ammonium Sulphate Fertilizer.

11. Keputusan Menteri Ketenagakerjaan No. 88 Tahun 2023        11. Decree of Minister of Manpower No. 88 of 2023 on the
    tentang Pedoman Pencegahan dan Penanganan                      Guidelines for the Prevention and Handling of Sexual
    Kekerasan Seksual di Tempat Kerja ("Permens 88/2023").         Violence in the Workplace (“Decree 88/2023”)

12. Peraturan Menteri Energi dan Sumber Daya Mineral No.       12. Regulation of the Ministry of Energy and Mineral Resources
    2 Tahun 2023 tentang Organisasi Penangkapan dan                No. 2 of 2023 on the Organization of Carbon Capture
    Penyimpanan Karbon (CCS) dan Penangkapan,                      and Storage (CCS) and Carbon Capture, Utilization and
    Pemanfaatan, dan Penyimpanan Karbon (CCUS) untuk               Storage (CCUS) for Upstream Oil-and-Gas Business
    Kegiatan Usaha Hulu Minyak dan Gas Bumi ("ESDM                 Activities (“MEMR 2/2023”)
    2/2023").




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      13. Keputusan Direktur Jenderal Perhubungan Laut No.        13. Decree of the Director General of Sea Transportation
          KP-DJPL 237 Tahun 2023 tentang petunjuk teknis              No. KP-DJPL 237 of 2023 on the Technical Instructions
          penentuan arus pelayaran di laut dan menuju terminal        for Determining the Flow of Shipping at Sea and Heading
          atau terminal khusus untuk kepentingan sendiri.             to Special Terminals or Terminals for Own-Interest.

      Beberapa perubahan-perubahan Undang-Undang, Peraturan       Several changes to the Law, Ministerial Regulations, OJK
      Kementerian, OJK dan Bursa ini memiliki dampak kepada       and Exchange have an impact on the running of the Company,
      jalannya Perseroan, dan dengan adanya perubahan Peraturan   and with the changes in these Regulations, the Company
      tersebut, Perseroan wajib melakukan penyesuaian atas        is obliged to make adjustments to these regulations.
      peraturan tersebut.

      Program Peningkatan Kualitas Tata Kelola Perusahaan         Corporate Governance Quality Improvement Program

      Pada Tahun 2023, upaya peningkatan penerapan prinsip        In 2023, efforts to increase the implementation of Good
      Tata Kelola Perusahaan yang Baik antara lain:               Corporate Governance principles include:
      1. Melakukan evaluasi dan revisi atas kebijakan dan         1. Evaluating and revising policies and guidelines/charters
         pedoman/charter yang berkaitan dengan penerapan              related to the application of the principles of Good
         prinsip- prinsip Tata Kelola Perusahaan yang Baik;           Corporate Governance;
      2. Melakukan update atas keterbukaan informasi dan          2. Updating the disclosure of information and the media
         media-media yang mewakilinya termasuk Website                that represent it, including the Company's Website;
         Perusahaan;
      3. Meng-upgrade tampilan website baik content maupun        3. Upgrading the appearance of the website both content
         design sebagai bentuk Keterbukaan Informasi yang            and design as a better and more informative form of
         lebih baik dan lebih informatif; dan                        Information Disclosure; and
      4. Melakukan laporan-laporan yang diwajibkan bagi           4. Preparing and submitting the required reports for a
         Perusahaan Terbuka.                                         Public Company.




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           KILAS          LAPORAN       PROFIL        ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
           KINERJA        MANAJEMEN     PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
           Performance    Management    Company       Management                     Corporate      Sustainability    Financial
           Overview       Report        Profile       Discussion And Analysis        Governance     Report            Report




Struktur GCG
GCG Structure [GRI 2-9]

Struktur GCG Perseroan mengacu pada Undang-Undang               The Company's GCG structure refers to Law No. 40 of 2007
No. 40 Tahun 2007 tentang Perseroan Terbatas dan Anggaran       on Limited Liability Companies and the Company's Articles
Dasar Perseroan, struktur GCG yang terdiri dari Rapat Umum      of Association, which consists of the General Meeting of
Pemegang Saham (RUPS), Dewan Komisaris, dan Direksi.            Shareholders (GMS), the Board of Commissioners, and the
Agar setiap organ utama dapat menjalankan tugas dan             Board of Directors. In order for each main organ to carry
tanggung jawabnya dengan efektif, terdapat organ-organ          out its duties and responsibilities effectively, there are
pendukung yang terdiri dari Komite Audit di bawah Dewan         supporting organs consisting of the Audit Committee under
Komisaris dan Unit Kerja pendukung di bawah Direksi yang        the Board of Commissioners and supporting Work Units
terdiri dari Sekretaris Perusahaan dan Unit Audit Internal.     under the Board of Directors consisting of the Corporate
                                                                Secretary and Internal Audit Unit.




                                                    Rapat Umum
                                               Pemegang Saham (RUPS)
                                                  General Meeting of
                                                 Shareholders (GMS)




                                Dewan Komisaris                              Direksi
                              Board of Commissioners                    Board of Directors




                                     Komite Audit                        Sekretaris Perusahaan
                                    Audit Committee                       Corporate Secretary



                                                                            Unit Audit Internal
                                                                            Internal Audit Unit




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      Rapat Umum Pemegang Saham
      General Meeting of Shareholders [GRI 2-11]

      Rapat Umum Pemegang Saham (“RUPS”) merupakan forum               The General Meeting of Shareholders (“GMS”) is the highest
      pengambilan keputusan yang tertinggi untuk Pemegang              decision-making forum for shareholders. The GMS is also
      Saham. RUPS juga merupakan platform Pemegang Saham               a platform for shareholders to exercise their rights to obtain
      untuk menggunakan hak mereka untuk mendapatkan                   information, express opinions, and submit questions, as
      informasi, mengemukakan pendapat, dan menyampaikan               long as these are relevant to the GMS agenda and comply
      pertanyaan, sepanjang hal tersebut relevan terhadap agenda       with the company's Articles of Association and applicable
      RUPS dan mematuhi Anggaran Dasar perusahaan maupun               laws and regulations.
      peraturan perundang-undangan yang berlaku.

      Penyelenggaraan RUPS mengacu kepada Anggaran Dasar               The GMS holding is regulated in the Company’s Articles of
      perusahaan dan peraturan baru OJK yakni Peraturan OJK            Association and Financial Services Authority Regulation
      No. 15/POJK.04/2020 (POJK 15) tentang Rencana dan                No. 15/POJK.04/2020 (POJK 15) concerning Plans and
      Penyelenggaraan Rapat Umum Pemegang Saham Perusahaan             Holding of Public Company’s General Meeting of Shareholders
      Terbuka dan Peraturan OJK No. 16/POJK.04/2020 tentang            and OJK Regulation No. 16/POJK.04/2020 concerning the
      Pelaksanaan Rapat Umum Pemegang Saham Perusahaan                 Electronic Implementation of the General Meeting of
      Terbuka Secara Elektronik. Kedua peraturan ini dikeluarkan       Shareholders of Public Companies. These two regulations
      OJK pada bulan April 2020. POJK 15 menggantikan POJK             were issued by OJK in April 2020. POJK 15 replaced POJK
      No. 32/POJK.04/2014, yang mengatur masalah yang sama             No. 32/POJK.04/2014, which regulates the same issues as
      sebagaimana yang diatur oleh POJK 15. Sehubungan dengan          regulated by POJK 15. In connection with the pandemic
      masa pandemik, OJK juga mengeluarkan surat edaran                period, OJK also issued a circular regarding certain conditions
      mengenai kondisi tertentu untuk Penyelenggaraan Rapat            for the holding of the General Meeting of Shareholders,
      Umum Pemegang Saham, yang memungkinkan perusahaan                which allows a public company to hold a GMS with a
      terbuka untuk menyelenggarakan RUPS dengan pembatasan            limitation on the number of shareholders who attend the
      jumlah Pemegang Saham yang menghadiri RUPS secara                GMS physically. Shareholders are encouraged to authorize
      fisik. Para Pemegang Saham diimbau untuk memberikan              the company's share register to attend the GMS through
      kuasa kepada register saham perusahaan untuk menghadiri          eASY.KSEI.
      RUPS melalui eASY.KSEI.




      Pelaksanaan RUPS suatu Perusahaan Terbuka saat ini tidak         The implementation of the GMS of a Public Company can
      lagi hanya bisa diikuti secara fisik. Seiring dengan pesatnya    no longer only be followed physically. Along with the rapid
      perkembangan teknologi, investor dapat menghadiri RUPS           development of technology, investors can attend the GMS
      secara online melalui platform eASY.KSEI. Platform milik PT      online through the eASY.KSEI platform. The platform owned
      Kustodian Sentral Efek Indonesia (KSEI) yang telah diluncurkan   by PT Kustodian Sentral Efek Indonesia (KSEI), which has
      sejak Tahun 2020 ini bertujuan untuk memfasilitasi kehadiran     been launched since 2020, aims to facilitate the presence
      Pemegang Saham dalam gelaran RUPS, terutama semenjak             of Shareholders in the GMS, especially since the outbreak
      merebaknya pandemi Covid-19. Platform ini merupakan              of the Covid-19 pandemic. This platform is KSEI's effort to
      upaya KSEI untuk meningkatkan efisiensi penyelenggaraan          improve the efficiency of holding GMS of issuers.
      RUPS emiten.




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           KILAS          LAPORAN       PROFIL       ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
           KINERJA        MANAJEMEN     PERUSAHAAN   PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
           Performance    Management    Company      Management                     Corporate      Sustainability    Financial
           Overview       Report        Profile      Discussion And Analysis        Governance     Report            Report




eASY.KSEI sudah dilengkapi oleh platform e-proxy, e-voting     eASY.KSEI is equipped with e-proxy, e-voting and live
dan live streaming. Dengan demikian, platform tersebut         streaming platforms. Thus, the platform allows Shareholders
memungkinkan Pemegang Saham untuk menghadiri dan               to attend and deliver their voice from various locations. In
menyampaikan suaranya dari berbagai lokasi. Selain itu,        addition, Shareholders who have confirmed attendance
Pemegang Saham yang sudah melakukan konfirmasi                 through eASY.KSEI, do not need to be present directly at
kehadiran melalui eASY.KSEI, tidak perlu hadir langsung        the GMS, because the presence of Shareholders has been
pada saat pelaksanaan RUPS, karena kehadiran Pemegang          recorded and voting rights have been legally counted in
Saham sudah tercatat dan hak suara sudah secara sah            the GMS. This makes eASY.KSEI has become a solution for
terhitung dalam RUPS. Hal ini membuat eASY.KSEI telah          Shareholders who are different domiciles from the location
menjadi solusi bagi Pemegang Saham yang berbeda domisili       of the GMS, and also for Shareholders who want to attend
dengan lokasi pelaksanaan RUPS, dan juga untuk Pemegang        several GMS at the same time, but in different locations.
Saham yang ingin mengikuti beberapa RUPS di waktu yang
berdekatan, namun di lokasi yang berbeda.

RAPAT UMUM PEMEGANG SAHAM DI TAHUN 2023
GENERAL MEETING OF SHAREHOLDERS IN 2023
Di sepanjang tahun 2023, Perseroan telah melaksanakan          Throughout 2023, the Company has conducted 1 (one)
1 (satu) kali RUPS Tahunan (RUPS-T) dan 2 (dua) kali RUPS      Annual GMS (AGMS) and 2 (two) Extraordinary GMS (EGMS)
Luar Biasa (RUPS-LB) dengan rincian sebagai berikut:           with the following details:
     • 8 Februari 2023: RUPS-LB                                    • 8 February 2023: EGMS
     • 15 Maret 2023: RUPS-T                                       • 15 March 2023: AGMS
     • 4 Oktober 2023: RUPS-LB                                     • 4 October 2023: EGMS

RAPAT UMUM PEMEGANG SAHAM LUAR BIASA (RUPS-LB)
EXTRA ORDINARY GENERAL MEETING SHAREHOLDERS

 Hari/Tanggal | Day/Date            : Rabu/8 Februari 2023 | Wednesday/8 February 2023
 Waktu | Time			                    : 15.09 WIB – 15.37 WIB | 3.09 pm – 3.37 pm
 Tempat | Venue		                   : DBS Bank Tower Lantai 19,
					                                 Meeting Room, Ciputra World 1 Jl, Prof. Dr. Satrio Kav 3 -5 Jakarta 12940



Agenda/Mata Acara Rapat                                        Meeting Agenda

1. Persetujuan atas rencana Perseroan untuk melakukan          1. Approval of the Company's plan to increase capital
   Penambahan Modal Tanpa Memberikan Hak Memesan                  without granting preemptive rights ("Non Pre-emptive
   Efek Terlebih Dahulu (“PMTHMETD”).                             Right Issue").
2. Menyetujui rencana perubahan pasal 4 (Modal) ayat (2)       2. Approve the plan to amend article 4 (Capital) paragraph
   anggaran dasar Perseroan Sehubungan dengan hasil               (2) of the Company's articles of association in connection
   pelaksanaan dari PMTHMETD untuk inbreng saham;                 with the results of the implementation of Non Pre-emptive
   dan                                                            Right for share investment; and
3. Pemberian kuasa dan wewenang kepada Dewan Komisaris         3. Granting power and authority to the Board of
   Perseroan untuk menyatakan realisasi perubahan modal           Commissioners of the Company to declare the realization
   ditempatkan dan disetor setelah penerbitan saham baru          of changes in issued and paid-up capital after the
   tersebut, termasuk untuk menetapkan harga pelaksanaan          issuance of new shares, including to determine the
   PMTHMETD.                                                      implementation price of Non Pre-emptive Right.




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      Sustaining Operational Excellence




      Kehadiran & persentase terhadap jumlah saham dengan hak suara yang sah yang telah dikeluarkan Perseroan:
      Attendance & percentage of the number of shares with valid voting rights that have been issued by the Company:
                 Mata Acara /                       Kuorum Kehadiran /                                     Persentase /
                   Agenda                           Attendance Quorum                                      Percentage
                      1                                               6.643.864.709                                                  73,43 %
                      2                                              13.257.245.076                                                 84,65 %
                      3                                              13.257.245.076                                                 84,65 %
      Kehadiran dihitung berdasarkan jumlah saham Independen dengan hak suara yang sah yang telah dikeluarkan oleh Perseroan.
      Dalam Rapat Tersebut Pemegang Saham / kuasanya diberikan kesempatan untuk mengajukan pertanyaan dan/atau memberikan
      pendapat terkait setiap mata acara Rapat.
      Attendance is calculated based on the number of Independent shares with valid voting rights that have been issued by the
      Company. During the Meeting, Shareholders/ Representatives were given opportunities to ask questions and/or express opinions
      related to each Meeting’s agenda.



      Hasil Pemungutan Suara untuk setiap Mata Acara Rapat
      Voting Results for each Meeting Agenda
             Mata Acara / Agenda                Setuju / Agree                Tidak Setuju / Disagree                     Abstain
                      1                                   5.910.001.692                      665.527.617                         68.335.400
                      2                                  12.523.379.359                      665.527.317                         68.338.400
                      3                                  12.523.379.359                      665.527.317                         68.338.400


                                        Hasil Keputusan RUPSLB 8 Februari 2023                                                Realisasi
                                           8th February 2023 EGMS’ Decision                                                  Realization
      Keputusan Rapat Umum Pemegang Saham Luar Biasa
      Resolution of the Annual General Meeting of Shareholders
      1.       Menyetujui penerbitan saham baru sehubungan dengan rencana Perseroan untuk melakukan                  Telah direalisasikan
               penambahan modal Perseroan sebanyak-banyaknya sebesar 1.566.088.700 (satu miliar lima ratus
               enam puluh enam juta delapan puluh delapan ribu tujuh ratus) saham dengan nilai nominal Rp.10,-
               (sepuluh Rupiah) atau sebesar 10% (sepuluh persen) dari jumlah seluruh saham yang telah
               ditempatkan dan disetor penuh dalam Perseroan melalui mekanisme PMTHMETD dengan
               memperhatikan ketentuan peraturan perundang-undangan yang berlaku di bidang pasar modal
               khususnya POJK 14/2019.

               Menyetujui rencana pengambilan bagian atas Saham Baru tersebut di atas dengan cara Penyetoran
               modal dalam bentuk lain (inbreng) saham dengan perincian sebagai berikut:
               Pengambil bagian atas Saham Baru oleh Garibaldi Tohir yang akan dibayar melalui inbreng sebesar
               116.510 (seratus enam belas ribu lima ratus sepuluh) miliknya dalam PT Panca Amara Utama; dan
               Pengambil bagian atas Saham Baru oleh Chander Vinod Laroya yang akan dibayar melalui inbreng
               sebesar 116.510 (seratus enam belas ribu lima ratus sepuluh) saham miliknya dalam PT Panca Amara
               Utama, yang selanjutnya disebut dengan “Inbreng Saham” sebagaimana dimaksud dalam Pasal 34
               Undang-Undang Perseroan Terbatas terkait penyetoran saham dalam bentuk lainnya.

               Menyetujui nilai bersih atas Inbreng Saham yang telah ditentukan dan dinilai oleh Nirboyo Adiputro,
               Dewi Apriyanti & Rekan sebagai Penilai Independen per tanggal 23 Januari 2023.




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          KILAS           LAPORAN        PROFIL         ANALISIS DAN                   TATA KELOLA    LAPORAN               LAPORAN
          KINERJA         MANAJEMEN      PERUSAHAAN     PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN         KEUANGAN
          Performance     Management     Company        Management                     Corporate      Sustainability        Financial
          Overview        Report         Profile        Discussion And Analysis        Governance     Report                Report




                              Hasil Keputusan RUPSLB 8 Februari 2023                                                    Realisasi
                                 8th February 2023 EGMS’ Decision                                                      Realization

     Approve the issuance of new shares in connection with the Company's plan to increase the                   Has been realized
     Company's capital as much as 1,566,088,700 (one billion five hundred sixty-six million eighty-eight
     thousand seven hundred) shares with a nominal value of Rp.10,- (ten Rupiah) or 10% (ten percent) of
     the total issued and fully paid-up shares in the Company through the Non Pre-emptive Right
     mechanism by taking into account the provisions of laws and regulations that applicable in the field
     of capital market, especially POJK 14/2019.

     Approve the plan to take part in the New Shares mentioned above by means of capital deposits in
     other forms (inbreng) shares with the following details:
     Acquisition of New Shares by Garibaldi Tohir which will be paid through inbreng amounting to
     116,510 (one hundred sixteen thousand five hundred ten) of his own in PT Panca Amara Utama; and
     Chander Vinod Laroya will pay 116,510 (one hundred sixteen thousand five hundred ten) shares in PT
     Panca Amara Utama, hereinafter referred to as "Inbreng Saham" as referred to in Article 34 of the
     Limited Liability Company Law regarding the deposit of shares in other forms.

     Approve the net value of Inbreng Shares that has been determined and assessed by Nirboyo
     Adiputro, Dewi Apriyanti &; Partners as Independent Appraiser as of 23 January 2023.
2    Menyetujui rencana perubahan pasal 4 (Modal) ayat (2) anggaran dasar Perseroan sehubungan                  Telah direalisasikan
     dengan hasil pelaksanaan dari PMTHMETD untuk Inbreng saham.

     Approve the plan to amend article 4 (Capital) paragraph (2) of the Company's articles of association       Has been realized
     in connection with the results of the implementation of Non- Preemptive Right for Inbreng shares.
3    Menyetujui memberikan kuasa dan wewenang kepada Dewan Komisaris Perseroan untuk                            Telah direalisasikan
     menyatakan realisasi perubahan Pasal 4 ayat (2) Anggaran Dasar Perseroan mengenai modal
     ditempatkan dan disetor setelah penerbitan saham baru tersebut, termasuk untuk menetapkan harga
     pelaksanaan PMTHMETD.

     Approve giving power and authority to the Board of Commissioners of the Company to declare the             Has been realized
     realization of changes to Article 4 paragraph (2) of the Company's Articles of Association regarding
     the issued and paid-up capital after the issuance of new shares, including to determine the exercise
     price of Non-Preemptive Right.




    RUPSLB 8 Februari 2023
    8th February 2023 EGMS’




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      Sustaining Operational Excellence




      Keputusan RUPSLB 8 Februari 2023 yang                            Resolutions of the EGMS 8 February 2023
      Belum Dapat Direalisasikan di Tahun Buku                         that cannot be realized in the 2023 Fiscal
      2023                                                             Year

      Tidak ada keputusan RUPSLB Tahun 2023 yang belum                 There are no resolutions of the 2023 EGMS that have not
      dapat direalisasikan.                                            been realized.

      RAPAT UMUM PEMEGANG SAHAM TAHUNAN (RUPS-T)
      ANNUAL GENERAL MEETING SHAREHOLDERS

       Hari/Tanggal | Day/Date               : Rabu / 15 Maret 2023 | Wednesday/ 15 March 2023
       Waktu | Time			                       : 15.05 WIB – 15.54 WIB | 3.05 pm – 3.54 pm
       Tempat | Venue		                      : DBS Bank Tower Lantai 19,
      					                                    Meeting Room, Ciputra World 1 Jl, Prof. Dr. Satrio Kav 3 -5 Jakarta 12940

      Agenda/Mata Acara Rapat                                          Meeting Agenda

      1. Persetujuan dan pengesahan atas Laporan Tahunan               1. Approval and ratification of the Company's Annual
         dan Laporan Keuangan Perseroan untuk tahun buku                  Report and Financial Statements for the 2022 financial
         2022; termasuk Laporan Direksi dan Laporan Pengawasan            year; including the Board of Directors Report and the
         Dewan Komisaris Perseroan untuk tahun buku yang                  Board of Commissioners' Supervisory Report for the
         berakhir pada tanggal 31 Desember 2022;                          financial year ended 31 December 2022;
      2. Penunjukan Akuntan Publik dan/atau Kantor Akuntan             2. Appointment of a Public Accountant and/or Independent
         Publik Independen yang akan melakukan audit atas                 Public Accountant Firm that will audit the Company's
         laporan keuangan Perseroan untuk tahun buku 2023                 financial statements for the 2023 financial year and
         dan pemberian wewenang kepada Dewan Komisaris                    authorization to the Company's Board of Commissioners
         Perseroan untuk menetapkan honorarium dan persyaratan            to determine the honorarium and appointment
         penunjukan atas Akuntan Publik Independen tersebut;              requirements for the Independent Public Accountant;
      3. Pemberian wewenang dan kuasa kepada Dewan Komisaris           3. Granting authority and power to the Board of
         untuk menetapkan gaji dan/atau honorarium dan/atau               Commissioners to determine salaries and/or honorariums
         tunjangan lainnya bagi anggota Dewan Komisaris dan               and/or other benefits for members of the Board of
         anggota Direksi Perseroan untuk tahun buku 2023; dan             Commissioners and members of the Board of Directors
                                                                          of the Company for the fiscal year 2023; and
      4. Persetujuan Penggunaan Saldo Laba Bersih Perseroan            4. Approval of the Use of the Company's Net Profit Balance
         untuk tahun buku yang berakhir pada tanggal 31 Desember          for the financial year ended 31 December 2022.
         2022.


       Kehadiran & persentase terhadap jumlah saham dengan hak suara yang sah yang telah dikeluarkan Perseroan:
       Attendance & percentage of the number of shares with valid voting rights that have been issued by the Company:
                 Mata Acara /                    Kuorum Kehadiran /                                  Persentase /
                   Agenda                        Attendance Quorum                                   Percentage
                      1                                           14.167.627.306                                            82,24 %
                      2                                           14.167.627.306                                            82,24 %

                      3                                           14.167.627.306                                            82,24 %

                      4                                           14.167.627.306                                            82,24 %
       Kehadiran dihitung berdasarkan jumlah saham Independen dengan hak suara yang sah yang telah dikeluarkan oleh Perseroan.
       Dalam Rapat Tersebut Pemegang Saham / kuasanya diberikan kesempatan untuk mengajukan pertanyaan dan/atau memberikan
       pendapat terkait setiap mata acara Rapat.
       Attendance is calculated based on the number of Independent shares with valid voting rights that have been issued by the
       Company. During the Meeting, Shareholders/ Representatives were given opportunities to ask questions and/or express opinions
       related to each Meeting’s agenda.

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           KILAS          LAPORAN        PROFIL        ANALISIS DAN                   TATA KELOLA    LAPORAN               LAPORAN
           KINERJA        MANAJEMEN      PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN         KEUANGAN
           Performance    Management     Company       Management                     Corporate      Sustainability        Financial
           Overview       Report         Profile       Discussion And Analysis        Governance     Report                Report




Hasil Pemungutan Suara untuk setiap Mata Acara Rapat
Voting Results for each Meeting Agenda
    Mata Acata / Agenda                Setuju/Agree                  Tidak Setuju/Disagree                      Abstain
             1                                 14.116.029.406                                   0                         51.597.900
             2                                 13.961.603.667                         175.074.339                         30.949.300
             3                                 14.135.082.307                           1.595.699                         30.949.300
             4                                 14.136.678.006                                   0                         30.949.300


                                Hasil Keputusan RUPST 15 Maret 2023                                                    Realisasi
                                    15 March 2023 AGMS’ Decision                                                      Realization
Keputusan Rapat Umum Pemegang Saham Tahunan
Resolution of the Annual General Meeting of Shareholders
1     a. Menyetujui dan mengesahkan atas Laporan Tahunan Perseroan termasuk Laporan Direksi dan                Telah direalisasikan
         Laporan Pengawasan Dewan Komisaris Perseroan untuk periode yang berakhir pada tanggal 31
         Desember 2022.
      b. Mengesahkan Laporan Keuangan Perseroan untuk tahun buku yang berakhir pada tanggal 31
         Desember 2022 yang telah diaudit oleh Kantor Akuntan Publik Gani Sigiro & Handayani.
      c. Memberikan pembebasan dan pelepasan kepada anggota Direksi dari tanggung jawab atas
         tindakan pengurusan Perseroan dan kepada anggota Dewan Komisaris atas tindakan
         pengawasan Perseroan, sepanjang seluruh tindakan tersebut terdapat pada Laporan Keuangan
         Perseroan untuk tahun buku yang berakhir pada tanggal 31 Desember 2022 (acquit et de charge)
         dan tidak bertentangan dengan peraturan perundang-undangan yang berlaku serta bukan
         merupakan tindakan pidana.

      a. Approve and ratify the Company's Annual Report including the Board of Directors' Report and
         the Board of Commissioners' Supervisory Report for the period ended December 31, 2022.                Has been realized
      b. Ratifying the Company's Financial Statements for the financial year ended December 31, 2022
         which have been audited by Gani Sigiro & Handayani Public Accounting Firm.
      c. Provide release and release to members of the Board of Directors from responsibility for the
         management actions of the Company and to members of the Board of Commissioners for the
         supervisory actions of the Company, as long as all such actions are contained in the Company's
         Financial Statements for the financial year ended 31 December 2022 (acquit et de charge) and
         do not contradict the prevailing laws and regulations and are not criminal acts.



    RUPST 15 Maret 2023
    15 March 2023 AGMS’




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      Sustaining Operational Excellence




                                         Hasil Keputusan RUPST 15 Maret 2023                                              Realisasi
                                             15 March 2023 AGMS’ Decision                                                Realization
       Keputusan Rapat Umum Pemegang Saham Tahunan
       Resolution of the Annual General Meeting of Shareholders
       2       a. Menyetujui penunjukan Akuntan Publik dan Kantor Akuntan Publik Gani Sigiro & Handayani – a         Telah direalisasikan
                  member firm of Grant Thornton International Limited untuk mengaudit Laporan Keuangan
                  Konsolidasi Perseroan untuk tahun buku yang berakhir pada tanggal 31 Desember 2023.
               b. Memberikan kuasa kepada Dewan Komisaris untuk menetapkan persyaratan penunjukannya
                  yang wajar serta penunjukan Kantor Akuntan Publik pengganti bilamana Kantor Akuntan Publik
                  yang ditunjuk berdasarkan ketentuan dan peraturan Pasar Modal tidak dapat melaksanakan
                  tugasnya.

               a. Approved the appointment of Public Accountant and Public Accounting Firm Gani Sigiro &;            Has been realized
                  Handayani – a member firm of Grant Thornton International Limited to audit the Company's
                  Consolidated Financial Statements for the financial year ended 31 December 2023.
               b. Authorize the Board of Commissioners to determine the requirements for its reasonable
                  appointment and the appointment of a replacement Public Accountant Firm in the event that the
                  Public Accounting Firm appointed based on the Capital Market rules and regulations is unable to
                  carry out its duties.
       3       Memberikan wewenang dan kuasa kepada Dewan Komisaris untuk menetapkan gaji dan/atau                   Telah direalisasikan
               honorarium dan/atau tunjangan lainnya bagi anggota Dewan Komisaris dan anggota Direksi
               Perseroan untuk tahun buku 2023.

               Grant authority and power to the Board of Commissioners to determine salaries and/or honorariums      Has been realized
               and/or other benefits for members of the Board of Commissioners and members of the Board of
               Directors of the Company for the fiscal year 2023.
       4       Menyetujui penggunaan saldo laba Perseroan yang berakhir pada tanggal 31 Desember 2022                Telah direalisasikan
               dengan rincian sebagai berikut:
               a. Perseroan membukukan Laba Bersih yang diatribusikan ke pemilik induk sebesar USD
                  138.841.074 untuk tahun buku 2022.
               b. Perseroan membagikan Dividen dari saldo laba Perseroan untuk tahun buku 2022 sebesar Rp.
                  45/saham yaitu sebanyak Rp. 775.213.906.500,- atau sekitar USD 51.468.193.
               c. Perseroan mengalokasikan sekitar USD 88.417.378 sebagai Laba Ditahan.

               Approve the use of the Company's retained earnings ended 31 December 2022 with the following          Has been realized
               details:
               a. The Company posted Net Profit attributable to the parent owner of USD 138,841,074 for the fiscal
                   year 2022.
               b. The Company distributes dividends from the Company's retained profit for the 2022 financial
                   year of Rp. 45/share, amounting to Rp. 775,213,906,500,- or around USD 51,468,193.
               c. The Company allocates approximately USD 88,417,378 as Retained Earnings.



      Keputusan RUPS-T 15 Maret 2023 yang                                 Resolutions of the AGMS 15 March 2023 that
      Belum Dapat Direalisasikan di Tahun Buku                            cannot be realized in the 2023 Fiscal Year
      2023

      Tidak ada keputusan RUPS-T Tahun 2023 yang belum dapat              There are no resolutions of the 2023 AGMS that have not
      direalisasikan.                                                     been realized.




           Laporan Tahunan & Laporan Keberlanjutan 2023
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            KILAS           LAPORAN        PROFIL        ANALISIS DAN                     TATA KELOLA   LAPORAN              LAPORAN
            KINERJA         MANAJEMEN      PERUSAHAAN    PEMBAHASAN MANAJEMEN             PERUSAHAAN    KEBERLANJUTAN        KEUANGAN
            Performance     Management     Company       Management                       Corporate     Sustainability       Financial
            Overview        Report         Profile       Discussion And Analysis          Governance    Report               Report




RAPAT UMUM PEMEGANG SAHAM LUAR BIASA (RUPS-LB)
EXTRA ORDINARY GENERAL MEETING SHAREHOLDERS

 Hari/Tanggal | Day/Date               : Rabu / 4 Oktober 2023 | Wednesday / 4 October 2023
 Waktu | Time			                       : 15.11 WIB – 15.33 WIB | 3.11 pm – 3.33 pm
 Tempat | Venue		                      : DBS Bank Tower Lantai 19,
					                                    Meeting Room, Ciputra World 1 Jl, Prof. Dr. Satrio Kav 3 -5 Jakarta 12940



Agenda/Mata Acara Rapat                                            Meeting Agenda

1.   Perubahan Nama Perseroan dan perubahan Pasal 1 ayat           1. Change of Company Name and amendment of Article
     (1) Anggaran Dasar Perseroan; dan                                1 paragraph (1) of the Company's Articles of Association;
                                                                      and
2. Perubahan Susunan Pengurus Perseroan                            2. Changes in the composition of the Company's
                                                                      management.


 Kehadiran & persentase terhadap jumlah saham dengan hak suara yang sah yang telah dikeluarkan Perseroan:
 Attendance & percentage of the number of shares with valid voting rights that have been issued by the Company:
         Mata Acara /                          Kuorum Kehadiran /                                       Persentase /
           Agenda                              Attendance Quorum                                        Percentage
               1                                                        14.063.310.312                                          81,63 %
              2                                                         14.063.310.312                                          81,63 %
 Kehadiran dihitung berdasarkan jumlah saham dengan hak suara yang sah yang telah dikeluarkan oleh Perseroan. Dalam Rapat
 Tersebut Pemegang Saham / kuasanya diberikan kesempatan untuk mengajukan pertanyaan dan/atau memberikan pendapat
 terkait setiap mata acara Rapat.

 Attendance is calculated based on the number of shares with valid voting rights that have been issued by the Company. During
 the Meeting, Shareholders/ Representatives were given opportunities to ask questions and/or express opinions related to each
 Meeting’s agenda.




 Hasil Pemungutan Suara untuk setiap Mata Acara Rapat
 Voting Results for each Meeting Agenda
      Mata Acara / Agenda                Setuju/ Agree                  Tidak Setuju/ Disagree                     Abstain
               1                                13.076.337.252                           983.848.760                          3.124.300
              2                                 13.074.549.952                           985.636.060                          3.124.300




                                                                                   Laporan Tahunan & Laporan Keberlanjutan 2023
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                                        Hasil Keputusan RUPSLB 4 Oktober 2023                                           Realisasi
                                            4th October 2023 EGMS’ Decision                                            Realization
      Keputusan Rapat Umum Pemegang Saham Luar Biasa
      Resolution of the Annual General Meeting of Shareholders
      1.       Menyetujui perubahan nama Perseroan dari PT Surya Esa Perkasa Tbk. menjadi PT ESSA Industries       Telah direalisasikan
               Indonesia Tbk. dan oleh karenanya mengubah Pasal 1 ayat (1) Anggaran Dasar Perseroan.

               Menyetujui untuk selanjutnya Pasal 1 Anggaran Dasar Perseroan menjadi tertulis dan berbunyi
               sebagai berikut:

                                               NAMA DAN TEMPAT KEDUDUKAN
                                                         Pasal 1

               Perseroan Terbatas ini bernama:

                                             PT ESSA INDUSTRIES INDONESIA TBK.

               (selanjutnya cukup disingkat dengan “Perseroan”), berkedudukan di Jakarta Selatan.

               Perseroan dapat membuka cabang atau kantor perwakilan, baik didalam maupun diluar wilayah
               Republik Indonesia sebagaimana ditetapkan oleh Direksi.


               Approved the change of the Company's name from PT Surya Esa Perkasa Tbk. to                         Has been realized
               PT ESSA Industries Indonesia Tbk. and therefore amended Article 1 paragraph (1) of the Company's
               Articles of Association.

               Approve henceforth Article 1 of the Company's Articles of Association to be written and reads as
               follows:

                                                 NAME AND PLACE OF POSITION
                                                          Article 1

               This Limited Liability Company is named:

                                             PT ESSA INDUSTRIES INDONESIA TBK.

               (hereinafter simply abbreviated as "the Company"), domiciled in South Jakarta.

               The Company may open branches or representative offices, both within and outside the territory of
               the Republic of Indonesia as determined by the Board of Directors.




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            KILAS           LAPORAN        PROFIL         ANALISIS DAN                   TATA KELOLA    LAPORAN               LAPORAN
            KINERJA         MANAJEMEN      PERUSAHAAN     PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN         KEUANGAN
            Performance     Management     Company        Management                     Corporate      Sustainability        Financial
            Overview        Report         Profile        Discussion And Analysis        Governance     Report                Report




                                Hasil Keputusan RUPSLB 4 Oktober 2023                                                     Realisasi
                                    4th October 2023 EGMS’ Decision                                                      Realization
Keputusan Rapat Umum Pemegang Saham Luar Biasa
Resolution of the Annual General Meeting of Shareholders
2     a. Memberhentikan dengan hormat Bapak Chander Vinod Laroya sebagai Presiden Direktur                        Telah direalisasikan
         Perseroan dan untuk selanjutnya menyetujui pengangkatan Bapak Chander Vinod Laroya
         sebagai Wakil Presiden Komisaris Perseroan.
      b. Memberhentikan dengan hormat Bapak Kanishk Laroya sebagai Wakil Presiden Direktur
         Perseroan dan untuk selanjutnya menyetujui pengangkatan Bapak Kanishk Laroya sebagai
         Presiden Direktur Perseroan.

           Pemberhentian dengan hormat tersebut berlaku efektif terhitung sejak di tutupnya Rapat ini serta
           memberikan pembebasan dan pelunasan tanggung jawab sepenuhnya (acquit et de charge)
           kepada mereka atas tindakan pengurusan yang telah di lakukan.

           Pengangkatan anggota Direksi dan Dewan Komisaris tersebut di atas berlaku efektif terhitung
           sejak ditutupnya Rapat ini sampai dengan penutupan Rapat Umum Pemegang Saham Tahunan
           untuk tahun buku 2027 yang akan diselenggarakan pada Tahun 2028.

      c. Menyetujui sehubungan dengan Keputusan tersebut di atas, untuk selanjutnya susunan anggota
         Direksi dan Dewan Komisaris Perseroan menjadi sebagai berikut:

      Dewan Komisaris:
         • Presiden Komisaris merangkap
            Komisaris Independen               : Hamid Awaluddin
         • Wakil Presiden Komisaris            : Chander Vinod Laroya
         • Komisaris 			                       : Rahul Puri
         • Komisaris			                        : Arif Rachmat
         • Komisaris Independen                : Prof. Dr. Ida Bagus Rahmadi Supancana

      Direksi:
          • Presiden Direktur 		               : Kanishk Laroya
          • Direktur 			                       : Mukesh Agrawal
          • Direktur			                        : Prakash Chand Bumb
          • Direktur 			                       : Isenta




    RUPSLB 4 Oktober 2023
    4th October 2023 EGMS’




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                                      Hasil Keputusan RUPSLB 4 Oktober 2023                                              Realisasi
                                          4th October 2023 EGMS’ Decision                                               Realization
       Keputusan Rapat Umum Pemegang Saham Luar Biasa
       Resolution of the Annual General Meeting of Shareholders
             a. Respectfully dismiss Mr. Chander Vinod Laroya as President Director of the Company and further      Has been realized
                approve the appointment of Mr. Chander Vinod Laroya as Vice President Commissioner of the
                Company.
             b. Respectfully dismiss Mr. Kanishk Laroya as Vice President Director of the Company and
                subsequently approve the appointment of Mr. Kanishk Laroya as President Director of the
                Company.

                 Such honorable dismissal shall be effective from the close of this Meeting and grant release and
                 full repayment of responsibility (acquit et de charge) to them for the management actions that
                 have been taken.

                 The appointment of members of the Board of Directors and Board of Commissioners mentioned
                 above is effective from the closing of this Meeting until the closing of the Annual General
                 Meeting of Shareholders for the fiscal year 2027 to be held in 2028.

             c. Approve in connection with the aforementioned Decision, henceforth the composition of
                members of the Board of Directors and Board of Commissioners of the Company shall be as
                follows:

             Board of Commissioners:
             • President Commissioner and
                Independent Commissioner             : Hamid Awaluddin
             • Vice President Commissioner           : Chander Vinod Laroya
             • Commissioner 			                      : Rahul Puri
             • Commissioner			                       : Arif Rachmat
             • Independent Commissioner              : Prof. Dr. Ida Bagus Rahmadi Supancana

             Management:
             • President Director 		                 : Kanishk Laroya
             • Director 			                          : Mukesh Agrawal
             • Director			                           : Prakash Chand Bumb
             • Director 			                          : Isenta


      Keputusan RUPSLB 4 Oktober 2023 yang                               Resolutions of the EGMS 4 October 2023
      Belum Dapat Direalisasikan di Tahun Buku                           that cannot be realized in the 2023 Fiscal
      2023                                                               Year

      Tidak ada keputusan RUPSLB Tahun 2023 yang belum                   There are no resolutions of the 2023 EGMS that have not
      dapat direalisasikan.                                              been realized.

      RAPAT UMUM PEMEGANG SAHAM DI                                       GENERAL MEETING OF SHAREHOLDERS
      TAHUN 2022 DAN REALISASINYA                                        IN 2022 AND REALIZATION
      Di sepanjang tahun 2022, Perseroan telah melaksanakan              Throughout 2022, the Company has conducted 1 (one)
      1 (satu) kali RUPS Tahunan (RUPS-T) dan 1 (satu) kali RUPS         Annual GMS (AGMS) and 1 (one) Extraordinary GMS (EGMS)
      Luar Biasa (RUPS-LB) dengan rincian sebagai berikut:               with the following details:
           • 16 Maret 2022: RUPS-LB                                          • 16 March 2022: EGMS
           • 7 Juni 2022: RUPS-T                                             • 7 June 2022: AGMS

      Seluruh hasil keputusan RUPS-T dan RUPS-LB di Tahun                All resolutions of the 2022 AGMS and EGMS have been
      2022 telah dilaksanakan seluruhnya di Tahun 2022. Dengan           fully implemented in 2022. Thus, there are no matters that
      demikian, tidak ada hal-hal yang harus disampaikan dan             must be submitted and resolved in 2023 regarding the
      diselesaikan di Tahun 2023 terkait realisasi hasil keputusan       realization of the AGMS and EGMS resolutions.
      RUPS-T dan RUPS-LB tersebut.


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           KILAS          LAPORAN       PROFIL       ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
           KINERJA        MANAJEMEN     PERUSAHAAN   PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
           Performance    Management    Company      Management                     Corporate      Sustainability    Financial
           Overview       Report        Profile      Discussion And Analysis        Governance     Report            Report




Paparan Publik Tahunan
Annual Public Expose




Sesuai dengan Keputusan Direksi PT Bursa Efek Jakarta          In accordance with the Decree of the Board of Directors of
Nomor: Kep-00066/BEI/09-2022 tentang Peraturan Nomor           the Jakarta Stock Exchange Number: Kep-00066/BEI/09-
I-E tentang Kewajiban Penyampaian Informasi, ESSA telah        2022 of Rule Number I-E concerning Obligations to Submit
menyelenggarakan Paparan Publik Tahunan untuk periode          Information, ESSA has held an Annual Public Expose for
Tahun 2023.                                                    fiscal year 2023.

Langkah-langkahnya dimulai dengan pengumuman Rencana           The steps begin with the announcement of the Annual
Penyelenggaraan Paparan Publik Tahunan yang disampaikan        Public Expose Plan submitted on 22 November 2023 in
pada tanggal 22 November 2023 di surat nomor 0424/LT/          letter number 0424/LT/EII-BEI/2023, followed by the
EII-BEI/2023, diikuti dengan pengumuman Materi Paparan         announcement of the Annual Public Expose Material on
Publik Tahunan di website Bursa Efek Indonesia dan website     the Indonesia Stock Exchange website and the ESSA website
ESSA pada tanggal 1 Desember 2023. Paparan Publik              on 1 December 2023. The Annual Public Expose was
Tahunan dilaksanakan secara 100% virtual menggunakan           virtually using an online platform. The 2023 Year Annual
platform online. Paparan Publik Tahunan Tahun 2023             Public Expose was held on:
diselenggarakan pada:

Hari/Tanggal      : Rabu, 6 Desember 2023                      Day/Date               : Wednesday, 6 December 2023
Waktu		           : 15.00 WIB – 15.57 WIB                      Time		                 : 3.00 pm – 3.57 pm
Acara		           : Paparan Publik Tahunan                     Event		                : Annual Public Expose
Link		            : https://tinyurl.com/2kvjsswa               Link		                 : https://tinyurl.com/2kvjsswa

Manajemen Perseroan yang hadir sebagai berikut:                The Company's management who attended were as follows:

1. Bapak Kanishk Laroya : Presiden Direktur & CEO              1. Mr. Kanishk Laroya             : President Director & CEO
2. Bapak Mukesh Agrawal: Direktur & COO                        2. Mr. Mukesh Agrawal             : Director & COO
3. Bapak Prakash Bumb : Direktur & CFO                         3. Mr. Prakash Bumb               : Director & CFO

Ringkasan Jumlah Kehadiran sebagai berikut:                    Summary of Attendance as follows:
1. Karyawan Perseroan                                          1. The Company employees
   selain BOC BOD		             : +/- 45 orang                      other than BOC BOD : +/- 45 persons
2. Media			                     : +/- 23 orang                 2. Media		               : +/- 23 persons
3. Investor/Pemegang Saham      : +/- 17 orang                 3. Investor/Shareholders : +/- 17 persons

Setelah presentasi dibacakan, para hadirin diberikan           After the presentation was read, the audience was given
kesempatan untuk bertanya mengenai operasi, keuangan,          the opportunity to ask questions about the operations,
rencana dan tantangan yang dihadapi ESSA. Hasil Paparan        finances, plans and challenges encountered by ESSA. The
Publik telah disampaikan pada tanggal 8 Desember 2023          results of the Public Expose have been submitted on 8
dalam surat nomor 0441/LT/EII-BEI/2023.                        December 2023 in letter number 0441/LT/EII-BEI/2023.



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      Dewan Komisaris
      Board of Commissioners

      Perseroan dalam melaksanakan kegiatan usaha perlu              The Company in carrying out business activities needs to
      memperoleh kontrol yang tepat, sehingga kebijakan dan          obtain proper control so that the policies and the course of
      jalannya pengelolaan perusahaan tidak keluar dari visi, misi   company management do not come out of the vision, mission,
      serta strategi yang telah ditetapkan. Sesuai ketentuan dalam   and strategies that have been set. Following the provisions
      UUPT maupun POJK 33/2014, fungsi pengawasan terhadap           in the UUPT and POJK 33/2014, the oversight function of the
      kebijakan pengurusan, jalannya pengurusan pada umumnya,        management policy, the management process in general,
      baik mengenai Perseroan maupun usaha Perseroan dilakukan       both regarding the Company and the Company's business
      oleh Dewan Komisaris. Fungsi lain yang melekat pada Dewan      is carried out by the Board of Commissioners. Another function
      Komisaris adalah memberikan nasihat kepada Direksi untuk       attached to the Board of Commissioners is to provide advice
      kepentingan Perseroan, serta memastikan pelaksanaan            to the Directors for the interests of the Company and ensure
      GCG berjalan dengan baik.                                      that the implementation of GCG runs well.

      Fungsi pengawasan Dewan termasuk dalam hal mengarahkan,        The Board's supervisory function includes directing, monitoring,
      memantau, dan mengevaluasi pelaksanaan kebijakan               and evaluating the implementation of the Company's strategic
      strategis Perseroan. Namun Dewan Komisaris dilarang            policies. However, the Board of Commissioners is prohibited
      terlibat dalam pengambilan keputusan terkait kegiatan          from being involved in making decisions related to the
      operasional Perseroan, kecuali terhadap hal-hal lain           Company's operational activities, except for other matters
      sebagaimana diatur dalam Anggaran Dasar Perseroan atau         as stipulated in the Company's Articles of Association or
      peraturan perundang-undangan yang berlaku. Karena itu,         applicable laws and regulations. Therefore, the Board of
      Dewan Komisaris memilki independensi yang disertai itikad      Commissioners has independence that is accompanied by
      baik, penuh kehati-hatian dan bertanggung jawab secara         good faith, prudent, and fully responsible.
      utuh.

      KOMPOSISI DEWAN KOMISARIS                                      BOARD OF COMMISSIONERS
                                                                     COMPOSITION
      Komposisi dan jumlah anggota Dewan Komisaris ditentukan        The composition and number of members of the Board of
      oleh RUPS dengan mempertimbangkan kondisi perusahaan           Commissioners is determined by the GMS taking into account
      dan keragaman keahlian, pengetahuan dan pengalaman             the condition of the company and the diversity of expertise,
      para anggota. Rekomendasi untuk komposisi anggota              knowledge, and experience of the members.
      Dewan Komisaris dibuat oleh Komite Nominasi dan                Recommendations for the composition of the members of
      Remunerasi perusahaan, yang perannya dilaksanakan oleh         the Board of Commissioners are made by the company's
      Dewan Komisaris.                                               Nomination and Remuneration Committee, whose role is
                                                                     carried out by the Board of Commissioners.

      Peraturan OJK No. 33, dan Piagam Dewan Komisaris, yang         OJK Regulation No. 33, and the Board of Commissioners
      mewajibkan bahwa setidaknya 30% dari anggota Dewan             Charter, which requires that at least 30% of the members of
      Komisaris merupakan komisaris independen. Sesuai Peraturan     the Board of Commissioners are independent commissioners.
      OJK No. 33/POJK.04/2014 dan Piagam Dewan Komisaris,            According to OJK Regulation No. 33/POJK.04/2014 and the
      komisaris independen harus memenuhi persyaratan berikut:       Board of Commissioners Charter, independent commissioners
                                                                     shall meet the following requirements:
      1. bukan merupakan orang yang bekerja atau mempunyai           1. not a person who works or has the authority and
         wewenang dan tanggung jawab untuk merencanakan,                 responsibility to plan, lead, control or supervise the
         memimpin, mengendalikan atau mengawasi kegiatan                 activities of the company within the last six months;
         perusahaan dalam kurun waktu enam bulan terakhir;
      2. tidak memiliki saham perusahaan, baik langsung maupun       2. do not own company shares, either directly or indirectly;
         tidak langsung;
      3. tidak mempunyai hubungan afiliasi dengan perusahaan,        3. has no affiliation with the company, other members of
         anggota Dewan Komisaris lainnya, anggota Direksi atau          the Board of Commissioners, members of the Board of
         Pemegang Saham utama perusahaan; dan                           Directors or major shareholders of the company; and
      4. tidak mempunyai hubungan usaha baik secara langsung         4. has no business relationship, either directly or indirectly
         maupun tidak langsung yang berkaitan dengan kegiatan           related to the company's business activities.
         usaha perusahaan.

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            KILAS          LAPORAN       PROFIL        ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
            KINERJA        MANAJEMEN     PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
            Performance    Management    Company       Management                     Corporate      Sustainability    Financial
            Overview       Report        Profile       Discussion And Analysis        Governance     Report            Report




SUSUNAN DEWAN KOMISARIS                                          BOARD OF COMMISSIONERS STRUCTURE

Susunan Dewan Komisaris ditetapkan dalam RUPS, di mana           The structure of the Board of Commissioners is determined
berdasarkan hasil RUPSLB tanggal 4 Oktober 2023 komposisi        in the GMS, where based on the results of the EGMS on 4
Dewan Komisaris Perseroan adalah sebagai berikut:                October 2023, the composition of the Board of Commissioners
                                                                 of the Company is as follows:

 •       Presiden Komisaris dan Komisaris Independen |
		       President Commissioner and Independent Commissioner    : Hamid Awaluddin
 •       Wakil Presiden Komisaris | Vice President Commissioner : Chander Vinod Laroya
 •       Komisaris | Commissioner					: Rahul Puri
 •       Komisaris | Commissioner					: Arif Rachmat
 •       Komisaris Independen | Independent Commissioner		      : Ida Bagus Rahmadi Supancana

TUGAS DAN TANGGUNG JAWAB                                         DUTIES AND RESPONSIBILITIES OF THE
DEWAN KOMISARIS [GRI 2-12, 2-13]                                 BOARD OF COMMISSIONERS [GRI 2-12, 2-13]
Tugas, tanggung jawab dan wewenang Dewan Komisaris               The duties, responsibilities, and authorities of the Board of
diatur dalam Anggaran Dasar Perseroan, antara lain meliputi:     Commissioners are stipulated in the Company's Articles of
                                                                 Association, which include:
1. Dewan Komisaris melakukan pengawasan atas                     1. The Board of Commissioners supervises management
   kebijaksanaan pengurusan, jalannya pengurusan pada               policies, the general management of the Company,
   umumnya, baik mengenai Perseroan maupun usaha                    both the Company and the Company's business, and
   Perseroan, serta memberikan nasihat kepada Direksi;              provides advice to the Directors;
2. Dewan Komisaris setiap waktu dalam jam kerja kantor           2. The Board of Commissioners at any time during office
   Perseroan berhak memasuki bangunan dan halaman                   hours of the Company has the right to enter buildings
   atau tempat lain yang dipergunakan atau yang dikuasai            and yards or other places used or controlled by the
   oleh Perseroan dan berhak memeriksa semua pembukuan,             Company and has the right to examine all books, letters
   surat dan alat bukti lainnya, memeriksa dan mencocokkan          and other evidence, examine and match the situation
   keadaan uang kas dan lain-lain serta berhak untuk                of cash and others and has the right to know all actions
   mengetahui segala tindakan yang telah dijalankan oleh            taken by the Directors;
   Direksi;
3. Dalam menjalankan tugas Dewan Komisaris berhak                3. In carrying out the duties of the Board of Commissioners,
   memperoleh penjelasan dari Direksi atau setiap anggota           it is entitled to obtain an explanation from the Board of
   Direksi tentang segala hal yang diperlukan oleh Dewan            Directors or each member of the Board of Directors
   Komisaris;                                                       regarding all matters required by the Board of
                                                                    Commissioners;
4. Rapat Dewan Komisaris setiap waktu berhak                     4. The Board of Commissioners' meeting has the right at
   memberhentikan untuk sementara seorang atau lebih                any time to temporarily dismiss one or more members
   anggota Direksi, apabila anggota Direksi tersebut                of the Board of Directors if the member of the Board of
   bertindak bertentangan dengan Anggaran Dasar dan/                Directors acts contrary to the Articles of Association
   atau peraturan perundang-undangan yang berlaku atau              and/or legislation in force or harms the Company's aims
   merugikan maksud dan tujuan Perseroan atau melalaikan            and objectives or neglects its obligations;
   kewajibannya;
5. Pemberhentian sementara itu harus diberitahukan kepada        5. Temporary dismissal shall be notified to the person
   yang bersangkutan disertai alasannya;                            concerned along with the reasons;
6. Dalam jangka waktu 90 (sembilan puluh) hari sesudah           6. Within 90 (ninety) days after the temporary dismissal,
   pemberhentian sementara itu, Dewan Komisaris                     the Board of Commissioners is required to hold an
   diwajibkan untuk menyelenggarakan Rapat Umum                     Extraordinary General Meeting of Shareholders which
   Pemegang Saham Luar Biasa yang akan memutuskan                   will decide whether the relevant member of the Board
   apakah anggota Direksi yang bersangkutan akan                    of Directors will be permanently terminated or returned
   diberhentikan seterusnya atau dikembalikan kepada                to his original position, while the member of the Board


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         kedudukannya semula, sedangkan anggota Direksi yang                   of Directors dismissed meanwhile allowed to be present
         diberhentikan sementara itu diberi kesempatan untuk                   to defend themselves;
         hadir guna membela diri;
      7. Rapat tersebut dalam ayat 4 pasal ini dipimpin oleh               7. The meeting in paragraph 4 of this article is chaired by
         Komisaris Utama dan apabila ia tidak hadir, hal tersebut             the President Commissioner and if he is not present,
         tidak perlu dibuktikan kepada pihak lain, maka Rapat                 this does not need to be proven to other parties, then
         Umum Pemegang Saham dipimpin oleh salah seorang                      the General Meeting of Shareholders is chaired by
         anggota Dewan Komisaris lainnya yang ditunjuk oleh                   another member of the Board of Commissioners
         Rapat Umum Pemegang Saham tersebut dan pemanggilan                   appointed by the General Meeting of Shareholders and
         harus dilakukan sesuai dengan ketentuan yang termaktub               summons must be made following the provisions
         dalam Pasal 10 Anggaran Dasar;                                       contained in Article 10 of the Articles of Association;
      8. Apabila Rapat Umum Pemegang Saham tersebut tidak                  8. If the General Meeting of Shareholders is not held within
         diadakan dalam jangka waktu 90 (sembilan puluh) hari                 90 (ninety) days after the temporary dismissal, the
         setelah pemberhentian sementara itu, maka                            temporary dismissal shall be null and void by law, and
         pemberhentian sementara itu menjadi batal demi hukum,                the person concerned has the right to re-assume his
         dan yang bersangkutan berhak menjabat kembali                        original position;
         jabatannya semula;
      9. Apabila seluruh anggota Direksi diberhentikan sementara           9. If all members of the Board of Directors are temporarily
         dan Perseroan tidak mempunyai seorangpun anggota                     dismissed and the Company does not have a single
         Direksi maka untuk sementara Dewan Komisaris                         member of the Board of Directors, the Board of
         diwajibkan untuk mengurus Perseroan, dalam hal demikian              Commissioners is temporarily required to take care of
         Rapat Dewan Komisaris berhak untuk memberikan                        the Company, in such a case the Board of Commissioners
         kekuasaan sementara kepada seorang atau lebih di                     Meeting has the right to give temporary authority to one
         antara mereka atas tanggungan mereka bersama, satu                   or more of them on their joint responsibility, one and
         dan lain dengan memperhatikan ketentuan Pasal 18 ayat                another by taking into account the provisions of Article
         6 Anggaran Dasar.                                                    18 paragraph 6 of the Articles of Association.



       Presiden Komisaris (Independen) – Hamid Awaluddin
       President Commissioner (Independent) – Hamid Awaluddin
                                                              Tugas dan Tanggung Jawab
        No.
                                                               Duties and Responsibilities
         1    Mengawasi dan memastikan tidak adanya transaksi yang mengandung benturan kepentingan pada perusahaan publik.
              Supervise and ensure that there are no transactions containing conflicts of interest in public companies.
         2    Memastikan bahwa Perseroan memiliki strategi bisnis yang efektif, termasuk di dalamnya memantau jadwal, anggaran, dan
              efektivitas strategi.
              Ensure that the Company has an effective business strategy, including monitoring the schedule, budget, and strategy
              effectiveness.
         3    Menjalankan fungsi nominasi dan remunerasi.
              Carry out nomination and remuneration functions.
         4    Memastikan bahwa Perseroan memiliki informasi, sistem pengendalian, dan sistem audit yang bekerja secara baik.
              Ensure that the Company has information, control systems, and audit systems that work well.
         5    Memastikan risiko dan potensi krisis selalu diidentifikasikan dan dikelola secara baik.
              Ensure that risks and potential crises are always identified and managed properly.
         6    Memastikan prinsip-prinsip dan praktik tata kelola perusahaan yang baik dipatuhi dan diterapkan secara baik.
              Ensuring that the principles and practices of good corporate governance are adhered to and implemented properly.
         7    Memimpin Rapat Dewan Komisaris.
              Leading the Board of Commissioners Meeting.




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          KILAS            LAPORAN         PROFIL         ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
          KINERJA          MANAJEMEN       PERUSAHAAN     PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
          Performance      Management      Company        Management                     Corporate      Sustainability    Financial
          Overview         Report          Profile        Discussion And Analysis        Governance     Report            Report




WAKIL PRESIDEN KOMISARIS – CHANDER VINOD LAROYA
Vice President Commissioner – Chander Vinod Laroya
                                                       Tugas dan Tanggung Jawab
No.
                                                        Duties and Responsibilities
 1     Mengawasi dan memastikan tidak adanya transaksi yang mengandung benturan kepentingan pada perusahaan publik.
       Supervise and ensure that there are no transactions containing conflicts of interest in public companies.
 2     Memastikan bahwa Perseroan memiliki strategi bisnis yang efektif, termasuk di dalamnya memantau jadwal, anggaran, dan
       efektivitas strategi.
       Ensure that the Company has an effective business strategy, including monitoring the schedule, budget, and strategy
       effectiveness.
 3     Menjalankan fungsi nominasi dan remunerasi.
       Carry out nomination and remuneration functions.
 4     Memastikan bahwa Perseroan memiliki informasi, sistem pengendalian, dan sistem audit yang bekerja secara baik.
       Ensure that the Company has information, control systems, and audit systems that work well.
 5     Memastikan risiko dan potensi krisis selalu diidentifikasikan dan dikelola secara baik.
       Ensure that risks and potential crises are always identified and managed properly.
 6     Memastikan prinsip-prinsip dan praktik tata kelola perusahaan yang baik dipatuhi dan diterapkan secara baik.
       Ensuring that the principles and practices of good corporate governance are adhered to and implemented properly.
 7     Memimpin Rapat Dewan Komisaris jika Presiden Komisaris berhalangan hadir.
       Leading the Board of Commissioners Meeting if President Commissioner is unnable to attend.

KOMISARIS – RAHUL PURI & ARIF RACHMAT
Commissioner – Rahul Puri & Arif Rachmat
                                                       Tugas dan Tanggung Jawab
 No.
                                                        Duties and Responsibilities
  1    Memberikan pengarahan dan nasihat kepada Direksi dalam menjalankan tugasnya.
       Provide direction and advice to the Board of Directors in carrying out their duties.
 2     Melakukan pengawasan atas kebijakan Direksi dalam menjalankan Perusahaan.
       Supervise the policies of the Board of Directors in running the Company.
 3     Mematuhi peraturan perundang-undangan yang berlaku, Anggaran Dasar Perusahaan, dan keputusan-keputusan Rapat
       Umum Pemegang Saham (RUPS).
       Comply with the prevailing laws and regulations, the Company's Articles of Association, and the decisions of the General
       Meeting of Shareholders (GMS).
 4     Mengevaluasi Rencana Kerja dan Anggaran Perusahaan serta mengikuti perkembangan Perusahaan dan apabila terdapat
       gejala yang menunjukkan perusahaan sedang dalam masalah.
       Evaluating the Company's Work Plan and Budget and following the development of the Company and if there are
       symptoms that indicate the company is in trouble.
 5     Memberikan saran dan pendapat kepada RUPS mengenai tujuan strategis Perusahaan, rencana pengembangan usaha,
       anggaran Tahunan, laporan keuangan Tahunan, akuntan publik sebagai auditor eksternal dan hal-hal penting lainnya.
       Provide advice and opinions to the GMS regarding the Company's strategic objectives, business development plans,
       annual budget, annual financial statements, public accountants as external auditors and other important matters.

KOMISARIS INDEPENDEN – IDA BAGUS RAHMADI SUPANCANA
Independent Commissioner – Ida Bagus Rahmadi Supancana
                                                       Tugas dan Tanggung Jawab
 No.
                                                        Duties and Responsibilities
  1    Menjabat sebagai Ketua Komite Audit Perusahaan berikut dengan tanggung jawabnya.
       Serves as the Chairman of the Company's Audit Committee along with the responsibilities.
 2     Memberikan pengarahan dan nasihat kepada Direksi dalam menjalankan tugasnya.
       Provide direction and advice to the Board of Directors in carrying out their duties.
 3     Melakukan pengawasan atas kebijakan Direksi dalam menjalankan Perusahaan.
       Supervise the policies of the Board of Directors in running the Company.




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       KOMISARIS INDEPENDEN – IDA BAGUS RAHMADI SUPANCANA
       Independent Commissioner – Ida Bagus Rahmadi Supancana
                                                             Tugas dan Tanggung Jawab
        No.
                                                              Duties and Responsibilities

         4     Mematuhi peraturan perundang-undangan yang berlaku, Anggaran Dasar Perusahaan dan keputusan-keputusan Rapat
               Umum Pemegang Saham (RUPS).
               Comply with the prevailing laws and regulations, the Company's Articles of Association, and the decisions of the General
               Meeting of Shareholders (GMS).
         5     Mengevaluasi Rencana Kerja dan Anggaran Perusahaan serta mengikuti perkembangan Perusahaan dan apabila terdapat
               gejala yang menunjukkan perusahaan sedang dalam masalah.
               Evaluating the Company's Work Plan and Budget and following the development of the Company and if there are
               symptoms that indicate the company is in trouble.
         6     Mengawasi dan memastikan tidak adanya transaksi yang mengandung benturan kepentingan pada perusahaan publik.
               Supervise and ensure that there are no transactions containing conflicts of interest in public companies.
         7     Memastikan bahwa Perseroan memiliki informasi, sistem pengendalian, dan sistem audit yang bekerja secara baik.
               Ensuring that the Company has information, control systems, and audit systems that work well.
         8     Memberikan saran dan pendapat kepada RUPS mengenai tujuan strategis Perusahaan, rencana pengembangan usaha,
               anggaran Tahunan, laporan keuangan Tahunan, akuntan publik sebagai auditor eksternal dan hal-hal penting lainnya.
               Provide advice and opinions to the GMS regarding the Company's strategic objectives, business development plans,
               annual budget, annual financial statements, public accountants as external auditors and other important matters.


      PERNYATAAN MENGENAI PEDOMAN DAN                                    STATEMENT REGARDING THE BOARD
      TATA TERTIB KERJA DEWAN KOMISARIS                                  OF COMMISSIONERS CHARTER
      Perseroan telah menerapkan Pedoman dan Tata Tertib                 The Company has implemented the Work Guidelines and
      Kerja bagi Dewan Komisaris. Isi Pedoman telah sesuai               Charter for the Board of Commissioners. The contents of
      dengan ketentuan serta perundangan-undangan yang                   the Guidelines are following the provisions and legislation
      berlaku, antara lain mengatur mengenai tanggung jawab              in force, including regulating responsibilities and authorities,
      dan wewenang, mekanisme rapat, penilaian dan kriteria              meeting mechanisms, performance evaluations and criteria,
      kinerja, benturan kepentingan serta fungsi nominasi dan            conflicts of interest, and the nomination and remuneration
      remunerasi dari Dewan Komisaris.                                   functions of the Board of Commissioners.

      KEBERAGAMAN DEWAN KOMISARIS                                        BOARD OF COMMISSIONERS’
                                                                         DIVERSITY
      Prinsip keberagaman anggota Dewan Komisaris Perusahaan             Diversity principle for the Board of Commissioners’ members
      yang diterapkan antara lain adalah:                                of the Company is implemented as follows:
          1. Dewan Komisaris terdiri dari 1 (satu) orang Presiden            1. The Board of Commissioners consists of 1 (one)
              Komisaris sekaligus sebagai Komisaris Independen,                  President Commissioner concurrent as Independent
              1 (satu) orang Wakil Presiden Komisaris, 2 (dua) orang             Commissioner, 1 (one) Vice President Commissioner,
              Komisaris, dan 1 (orang) orang Komisaris Independen                2 (two) Commissioners, and 1 (one) other Independent
              lainnya yang diangkat oleh Pemegang Saham melalui                  Commissioner who are appointed by Shareholders
              RUPS.                                                              through GMS.
          2. Dari aspek usia, anggota Dewan komisaris memiliki               2. From the age aspect, the Board of Commissioners’
              rentang usia antara 48-75 tahun.                                   members have an age range between 48-75 years
                                                                                 old.
         3. Latar belakang pendidikan anggota Dewan Komisaris                3. Education backgrounds of the Board of Commissioners’
            cukup beragam yakni bidang hubungan internasional,                   members are varied from international relations,
            hukum, hak asasi manusia, manajemen bisnis, riset,                   law, human rights, business management, research,
            dan teknik industri.                                                 and industrial engineering.
         4. Latar belakang pengalaman pekerjaan yang cukup                   4. Working experiences backgrounds are varied
            beragam antara lain seperti bidang hubungan                          including international relations, law, human rights,
            internasional, hukum, hak asasi manusia, dan teknik.                 and industrial engineering.


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            KILAS            LAPORAN         PROFIL         ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
            KINERJA          MANAJEMEN       PERUSAHAAN     PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
            Performance      Management      Company        Management                     Corporate      Sustainability    Financial
            Overview         Report          Profile        Discussion And Analysis        Governance     Report            Report




KOMISARIS INDEPENDEN                                                  INDEPENDENT COMMISSIONER
Perseroan memiliki dua Komisaris Independen yang                      The Company has two Independent Commissioners who
merupakan 40% dari total anggota Dewan Komisaris                      constitute 50% of the total members of the Company's
Perseroan dan telah memenuhi ketentuan POJK 33/2014                   Board of Commissioners and have complied with POJK
tanggal 8 Desember 2014 tentang Direksi dan Dewan                     33/2014 dated 8 December 2014, regarding Directors and
Komisaris Emiten Atau Perusahaan Publik. Komisaris                    Board of Commissioners of Issuers or Public Companies.
Independen yang telah menjabat selama 2 (dua) periode                 Independent Commissioners who have served for 2 (two)
masa jabatan dapat diangkat kembali pada periode                      terms of office may be reappointed in the next period as
selanjutnya sepanjang Komisaris Independen tersebut                   long as the Independent Commissioner declares himself
menyatakan dirinya tetap Independen kepada RUPS.                      to remain Independent to the GMS. This statement shall be
Pernyataan ini wajib diungkapkan dalam Laporan Tahunan.               disclosed in the Annual Report.

Sebelum diangkat menjadi Komisaris Independen, setiap                 Prior to being appointed as Independent Commissioner,
anggota Komisaris Independen wajib menandatangani                     each member of the Independent Commissioner is required
pernyataan independensi dengan mengacu pada Peraturan                 to sign a statement of independence with reference to
Otoritas Jasa Keuangan Nomor 33/POJK.04/2014 tentang                  Financial Services Authority Regulation Number 33/
Direksi dan Dewan Komisaris Emiten atau Perusahaan Publik.            POJK.04/2014 concerning the Board of Directors and Board
                                                                      of Commissioners of Issuers or Public Companies.


                       Kriteria Independensi OJK                                                         Prof. Ida Bagus Rahmadi
  No.                                                                    Hamid Awaluddin
                       OJK Independence Criteria                                                                 Supancana
   1    Bukan merupakan orang yang bekerja atau mempunyai                         v                                   v
        wewenang dan tanggung jawab untuk merencanakan,
        memimpin, mengendalikan, atau mengawasi kegiatan
        Emiten atau Perusahaan Publik tersebut dalam waktu 6
        (enam) bulan terakhir, kecuali untuk pengangkatan
        kembali sebagai Komisaris Independen Emiten atau
        Perusahaan Publik pada periode berikutnya.
        Not a person who works or has the authority and
        responsibility to plan, lead, control, or supervise the
        activities of the Issuer or Public Company within the last
        6 (six) months, except for reappointment as
        Independent Commissioner of the Issuer or Public
        Company in the following period.
   2    Tidak mempunyai saham baik langsung maupun tidak                          v                                   v
        langsung langsung maupun tidak langsung pada
        Perseroan.
        Does not own shares, either directly or indirectly,
        directly or indirectly in the Company.
   3    Tidak mempunyai hubungan afiliasi dengan Perseroan,                       v                                   v
        anggota Dewan Komisaris Perusahaan, anggota Direksi
        Perusahaan atau Pemegang Saham Utama Perusahaan.
        Has no affiliation with the Company, members of the
        Company's Board of Commissioners, members of the
        Company's Board of Directors or Major Shareholders of
        the Company.
   4    Tidak mempunyai hubungan usaha baik langsung                              v                                   v
        maupun tidak langsung yang berkaitan dengan
        kegiatan usaha Perseroan.
        Has no business relationship either directly or indirectly
        related to the Company's business activities.




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      RAPAT DEWAN KOMISARIS                                         BOARD OF COMMISSIONERS MEETING
      Secara rutin, Dewan Komisaris telah mengadakan Rapat          The Board of Commissioners regularly holds a Board of
      Dewan Komisaris setiap 2 (dua) bulan sekali. Di samping       Commissioners Meeting every 2 (two) months. In addition,
      itu, Dewan Komisaris juga telah mengundang Direksi dalam      the Board of Commissioners has also invited the Board of
      rapat gabungan yang diadakan setiap 3 (tiga) bulan sekali.    Directors in joint meetings which are held every 3 (three)
      Dalam rapatnya, Dewan Komisaris berhak mengundang             months. In its meeting, the Board of Commissioners has
      pihak terkait dengan agenda rapat seperti Audit Internal      the right to invite parties related to the meeting agenda,
      dan Komite Audit. Rapat selalu diadakan di ruang meeting      such as the Internal Audit and the Audit Committee. Meetings
      kantor Perseroan dan Panggilan dan materi Rapat sudah         are always held in the meeting room of the Company's
      disiapkan sesuai dengan ketentuan.                            office and the invitation and meeting materials have been
                                                                    prepared in accordance with the provisions.

      Rapat dipimpin oleh Komisaris Utama, Rapat Dewan Komisaris    Meetings are led by the President Commissioner, Board of
      maupun rapat gabungan dapat dilaksanakan dan berhak           Commissioners meetings or joint meetings can be held and
      mengambil keputusan apabila lebih dari ½ (satu perdua)        have the right to make decisions if more than (one half) of
      bagian dari jumlah anggota Dewan Komisaris hadir atau         the total members of the Board of Commissioners are
      diwakili dalam rapat. Setiap Keputusan Rapat diambil          present or represented at the meeting. Every Meeting
      berdasarkan musyawarah untuk mufakat.                         Resolution is taken based on deliberation for consensus.

      Selama Tahun 2023, Dewan Komisaris telah mengadakan           During 2023, the Board of Commissioners has held 6 (six)
      Rapat Komisaris sebanyak 6 (enam) kali, Rapat Direksi         meetings of the Board of Commissioners, 3 (three) Joint
      Bersama Komisaris sebanyak 3 (tiga) kali dengan rincian       Meetings of the Board of Directors and Board of
      kehadiran sebagai berikut:                                    Commissioners with details of attendance as follows:


                                                          Rapat Dewan Komisaris            Rapat Direksi dan Dewan Komisaris
                                                       Board of Commissioners Meeting          Joint Meeting BOD & BOC

                                                     Jumlah & Persentase (%) Kehadiran     Jumlah & Persentase (%) Kehadiran
           Nama                 Jabatan              Number & Percentage of Attendance     Number & Percentage of Attendance
           Name                 Position
                                                                       Jumlah                                Jumlah
                                                     Jumlah Rapat                         Jumlah Rapat
                                                                     Kehadiran                             Kehadiran
                                                      Number of                      %     Number of                       %
                                                                     Number of                             Number of
                                                       Meeting                              Meeting
                                                                     Attendance                            Attendance
       Hamid           Presiden Komisaris &               6               6         100         4               4         100
       Awaluddin       Komisaris Independen

                       President Commissioner &
                       Independent Commissioner
       Chander         Wakil Presiden Komisaris           6               1        16,6         4               1         25
       Vinod Laroya*   Vice President Commissioner
       Rahul Puri      Komisaris                          6               6         100         4               4         100
                       Commissioner
       Arif Rachmat    Komisaris                          6               6         100         4               4         100
                       Commissioner
       Ida Bagus       Komisaris Independen               6               6         100         4               4         100
       Rahmadi         Independent Commissioner
       Supancana
       * Bapak Chander Vinod Laroya baru menjabat sebagai Wakil Presiden Komisaris per tanggal 4 Oktober 2023
       * Mr. Chander Vinod Laroya has just been appointed as Vice President Commissioner as of 4 October 2023




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           KILAS          LAPORAN       PROFIL       ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
           KINERJA        MANAJEMEN     PERUSAHAAN   PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
           Performance    Management    Company      Management                     Corporate      Sustainability    Financial
           Overview       Report        Profile      Discussion And Analysis        Governance     Report            Report




PENILAIAN KINERJA DEWAN KOMISARIS                              PERFORMANCE EVALUATION OF THE
[GRI 2-18]                                                     BOARD OF COMMISSIONERS [GRI 2-18]

Dewan Komisaris bersama-sama dengan Direksi akan               The Board of Commissioners together with the Board of
mempertanggungjawabkan pelaksanaan tugas dan                   Directors will be responsible for the implementation of duties
pencapaian kinerja untuk periode Tahun 2023 dalam RUPS         and performance achievements for the 2023 period in the
Tahunan Perseroan yang akan diselenggarakan pada 2024.         Annual General Meeting of the Company which will be held
                                                               in 2024.

Dewan Komisaris belum mempunyai kebijakan penilaian            The Board of Commissioners does not yet have a self-
sendiri (Self-Assessment) namun telah melakukan penilaian      assessment policy but has conducted a self-assessment
sendiri untuk mengukur kinerja mereka pada Tahun 2023          to measure their performance in 2023 and to identify the
dan untuk mengidentifikasi kelebihan yang harus mereka         strengths that they shall maintain, and the weaknesses that
pertahankan, serta kekurangan yang harus mereka perbaiki.      they shall improve.

PENILAIAN KINERJA KOMITE YANG                                  PERFORMANCE EVALUATION OF
MENDUKUNG PELAKSANAAN TUGAS                                    COMMITTEES THAT SUPPORT THE
DEWAN KOMISARIS                                                DUTIES IMPLEMENTATION OF THE
                                                               BOARD OF COMMISSIONERS
Dalam menjalankan tugas dan tanggung jawabnya, Dewan           In carrying out its duties and responsibilities, the Board of
Komisaris dibantu oleh Komite Audit. Selama 2023, Dewan        Commissioners is assisted by the Audit Committee. During
Komisaris menilai bahwa Komite Audit telah menjalankan         2023, the Board of Commissioners considers that the Audit
tugas dengan baik. Implementasi program kerja serta fungsi     Committee has carried out its duties properly. The
Komite Audit telah berjalan dengan baik dalam mendukung        implementation of work programs and functions of the Audit
tugas dan tanggung jawab Dewan Komisaris.                      Committee has been carried out well in supporting the
                                                               duties and responsibilities of the Board of Commissioners.




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      Direksi
      Board of Directors [GRI 2-11]

      Pengurusan Perseroan dilaksanakan oleh Direksi, dengan           The management of the Company is carried out by the
      tanggung jawab secara kolegial, untuk mengambil keputusan,       Directors, with collegial responsibilities, to make decisions,
      termasuk dalam rapat Direksi, dan melaksanakan keputusan         including in meetings of the Directors, and implement those
      tersebut sesuai dengan pembagian tugas dan wewenangnya.          decisions following the division of tasks and authority.
      Tindakan yang dilakukan oleh anggota Direksi di luar yang        Actions taken by members of the Board of Directors outside
      diputuskan oleh Rapat Direksi menjadi tanggung jawab             those decided by the Board of Directors Meeting are the
      pribadi yang bersangkutan sampai dengan tindakan dimaksud        personal responsibility of those concerned until such actions
      disetujui oleh rapat Direksi. Atas tindakan pengurusan           are approved by the Board of Directors' meeting. For these
      tersebut, Direksi sesuai dengan UU no.40/2007 dan POJK           management actions, the Directors following Law No.
      33/2014, memiliki prinsip mengedepankan profesionalisme,         40/2007 and POJK 33/2014, have the principle of promoting
      efisiensi, transparansi, kemandirian, akuntabilitas,             professionalism, efficiency, transparency, independence,
      pertanggungjawaban, serta kewajaran.                             accountability, responsibility, and fairness.

      Tugas dan tanggung jawab yang mendasar dari Direksi              The basic duties and responsibilities of the Directors are
      adalah menghasilkan nilai tambah bagi para pemangku              to generate added value for stakeholders and ensure the
      kepentingan serta memastikan kesinambungan usaha                 sustainability of the Company's business. Each member of
      Perseroan. Masing-masing anggota Direksi memiliki                the Board of Directors has a division of responsibilities and
      pembagian tanggung jawab dan wewenang masing-masing              authority following the Articles of Association and the
      sesuai dengan Anggaran Dasar dan peraturan serta                 applicable laws and regulations. So that in carrying out its
      perundang-undangan yang berlaku. Sehingga dalam                  duties, the Board of Directors must devote its full energy,
      melaksanakan tugasnya, Direksi wajib mencurahkan tenaga,         thoughts, attention, and dedication to the duties, obligations,
      pikiran, perhatian dan pengabdiannya secara penuh pada           and achievement of the Company's goals.
      tugas, kewajiban dan pencapaian tujuan Perseroan.

      SUSUNAN DIREKSI                                                  BOARD OF DIRECTORS COMPOSITION
      Susunan Direksi ditetapkan dalam Pemegang Saham, di              The composition of the Directors is determined in the
      mana berdasarkan hasil RUPSLB tanggal 4 Oktober 2023             shareholders, based on the results of the EGMS on 4 October
      komposisi Direksi Perseroan adalah sebagai berikut:              2023, the composition of the Company's Directors is as follows:

            •   Presiden Direktur & CEO | President Director & CEO : Kanishk Laroya
            •   Direktur & COO | Director & COO 			                : Mukesh Agrawal
            •   Direktur & CFO | Director & CFO			                 : Prakash Chand Bumb
            •   Direktur | Director					: Isenta

      TUGAS DAN TANGGUNG JAWAB                                         DUTIES AND RESPONSIBILITIES OF
      DIREKSI [GRI 2-12, 2-13]                                         DIRECTORS [GRI 2-12, 2-13]

      Tugas, tanggung jawab dan wewenang Dewan Komisaris               The duties, responsibilities, and authority of the Board of
      diatur dalam Anggaran Dasar Perseroan, yang secara ringkas       Commissioners are stipulated in the Company's Articles of
      meliputi:                                                        Association, which briefly cover:

      1.    Direksi berhak mewakili Perseroan di dalam dan di luar     1.   The Board of Directors has the right to represent the
            Pengadilan tentang segala hal dan dalam segala kejadian,        Company in and outside the Court regarding all matters
            mengikat Perseroan dengan pihak lain dan pihak lain             and in all incidents, binding the Company with other
            dengan Perseroan, serta menjalankan segala tindakan,            parties and other parties with the Company, and taking
            baik yang mengenai kepengurusan maupun kepemilikan,             all actions, both regarding management and ownership,
            akan tetapi dengan pembatasan hal-hal di bawah ini              but with restrictions on matters the following items must
            yang harus dengan persetujuan terlebih dahulu dari              be approved by the Board of Commissioners in advance:
            Dewan Komisaris:
            a. Meminjam atau meminjamkan uang atas nama                     a. Borrowing or lending money in the name of the


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            KILAS          LAPORAN        PROFIL        ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
            KINERJA        MANAJEMEN      PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
            Performance    Management     Company       Management                     Corporate      Sustainability    Financial
            Overview       Report         Profile       Discussion And Analysis        Governance     Report            Report




       Perseroan (tidak termasuk pengambilan uang Perseroan                Company (not including withdrawing Company
       di bank-bank) yang jumlahnya melebihi US$50.000.000                 money in banks) whose amounts exceed
       (lima puluh juta Dollar Amerika Serikat);                           US$50,000,000 (fifty million United States Dollars);
   b. Mendirikan suatu usaha atau turut serta pada                   b. Establish a business or participate in other companies
       Perseroan lain baik di dalam maupun di luar negeri;                 both at home and abroad;
   c. Menandatangani perjanjian atau kontrak dengan                  c. Sign agreements or contracts with a value of more
       nilai lebih dari US$50.000.000 (lima puluh juta Dollar              than US$50,000,000 (fifty million United States
       Amerika Serikat).                                                   Dollars).
2. Melaksanakan perbuatan hukum untuk mengalihkan,                2. Carry out legal actions to transfer, relinquish rights or
   melepaskan hak atau menjadikan jaminan utang yang                 make debt guarantees which constitute more than 50%
   merupakan lebih dari 50% (lima puluh persen) jumlah               (fifty percent) of the Company's net assets in one financial
   kekayaan bersih Perseroan dalam satu Tahun buku,                  year, either in one transaction or several transactions
   baik dalam satu transaksi atau beberapa transaksi yang            that are independent or related to each other. must
   berdiri sendiri ataupun yang berkaitan satu sama lain             obtain the approval of the GMS attended by or represented
   harus mendapat persetujuan RUPS yang dihadiri atau                by shareholders who own at least 3/4 (three quarters)
   diwakili para Pemegang Saham yang memiliki paling                 of the total number of shares with valid voting rights
   sedikit 3/4 (tiga perempat) bagian dari jumlah seluruh            and are approved by more than 3/4 (three quarters) of
   saham dengan hak suara yang sah dan disetujui oleh                all shares with rights the votes present at the GMS
   lebih dari 3/4 (tiga perempat) bagian dari seluruh saham          keeping in mind the applicable laws and regulations in
   dengan hak suara yang hadir dalam RUPS dengan                     the capital market sector.
   mengingat peraturan perundang-undangan yang berlaku
   di bidang pasar modal.
3. a. Presiden Direktur berhak dan berwenang bertindak            3. a. The President Director has the right and authority
       untuk dan atas nama Direksi serta mewakili Perseroan.              to act for and on behalf of the Directors and
   b. Dalam hal Presiden Direktur tidak hadir atau                        represent the Company.
       berhalangan karena sebab apapun juga,yang tidak               b. If the President Director is absent or absent for any
       perlu dibuktikan kepada pihak ketiga, maka wakil                   reason, which does not need to be proven to a third
       Presiden Direktur berhak dan berwenang bertindak                   party, the Deputy President Director has the right
       untuk dan atas nama Direksi serta mewakili Perseroan.              and authority to act for and on behalf of the Board
   c. Dalam hal Presiden Direktur dan/atau wakil Presiden                 of Directors and represent the Company.
       Direktur tidak hadir atau berhalangan karena sebab            c. If the President Director and/or Deputy President
       apapun juga, yang tidak perlu dibuktikan kepada                    Director is absent or unable to attend due to any
       pihak ketiga, maka salah seorang anggota Direksi                   reason, which does not need to be proven to a third
       lainnya berhak dan berwenang bertindak untuk dan                   party, then another member of the Board of Directors
       atas nama Direksi serta mewakili Perseroan.                        has the right and authority to act for and on behalf
                                                                          of the Directors and represent the Company.
4. Pembagian tugas dan wewenang setiap anggota Direksi            4. The division of duties and authority of each member of
   ditetapkan oleh RUPS. Dalam hal RUPS tidak menetapkan,            the Board of Directors is determined by the GMS. In the
   pembagian tugas dan wewenang anggota Direksi                      event, the GMS does not stipulate, the division of duties
   ditetapkan berdasarkan keputusan Direksi.                         and authority of the members of the Board of Directors
                                                                     is determined based on the decision of the Board of
                                                                     Directors.
5. Tanpa mengurangi tanggung jawab Direksi, Direksi               5. Without reducing the responsibility of the Board of
   dapat memberi kuasa tertulis kepada seorang atau lebih            Directors, the Board of Directors can give written authority
   kuasa untuk dan atas nama Perseroan melakukan                     to one or more attorneys for and on behalf of the Company
   perbuatan hukum tertentu sebagaimana yang diuraikan               to carry out certain legal actions as described in the
   dalam surat kuasa.                                                power of attorney.
6. Dalam hal Perseroan mempunyai kepentingan yang                 6. If the Company has a conflict of interest with the personal
   bertentangan dengan kepentingan pribadi seorang anggota           interests of a member of the Board of Directors, the
   Direksi, maka Perseroan akan diwakili oleh anggota Direksi        Company will be represented by other members of the
   lainnya dan dalam hal Perseroan mempunyai kepentingan             Board of Directors and if the Company has a conflict of
   yang bertentangan dengankepentingan seluruh anggota               interest with all members of the Board of Directors, in


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         Direksi, maka dalam ha ini Perseroan diwakili oleh Dewan            this case, the Company is represented by the Board of
         Komisaris, satu danlain dengan tidak mengurangi ketentuan           Commissioners, one and the other does not reduce the
         dalam ayat 6 pasal ini.                                             provisions in paragraph 6 of this article.

      Secara khusus masing-masing anggota Direksi memiliki               Specifically, each member of the Board of Directors has
      tugas dan tanggung jawab sebagai berikut:                          the following duties and responsibilities:


       PRESIDEN DIREKTUR & CEO – KANISHK LAROYA
       President Director & CEO – Kanishk Laroya
                                                            Tugas dan Tanggung Jawab
        No.
                                                             Duties and Responsibilities
         1    Membuat keputusan-keputusan besar terkait perusahaan, mengelola seluruh operasional dan sumber daya perusahaan,
              serta berperan sebagai pemeran utama dalam mengelola komunikasi antara Direksi dan operasional perusahaan.
              Make major decisions related to the company, manage all operations and company resources, and play the main role in
              managing communication between the Board of Directors and company operations.
         2    Melakukan komunikasi, atas nama perusahaan, dengan Pemegang Saham, badan pemerintah, dan publik.
              Communicate, on behalf of the company, with shareholders, government agencies and the public.

         3    Memimpin pengembangan bisnis atau perusahaan sesuai dengan strategi jangka pendek dan jangka panjang.
              Lead the development of a business or company in accordance with short-term and long-term strategies.
         4    Menciptakan dan mengimplementasikan visi dan misi perusahaan atau organisasi.
              Create and implement the vision and mission of the company or organization
         5    Mengevaluasi pekerjaan para pemimpin eksekutif lainnya dalam perusahaan, termasuk direktur, wakil presiden, dan
              presiden.
              Evaluate the work of other executive leaders within the company, including directors, vice presidents, and presidents.
         6    Memastikan bahwa perusahaan mempertahankan tanggung jawab sosial yang tinggi pada saat melakukan bisnis.
              Ensure that the company maintains a high level of social responsibility when doing business.
         7    Memantau risiko yang dapat muncul dalam perusahaan dan memastikannya dan meminimalisirkan risiko tersebut.
              Monitor risks that may arise within the company and ensure them and minimize these risks.
         8    Menetapkan tujuan strategis dan memastikannya tetap terukur dan dapat dicapai.
              Set strategic goals and ensure they remain measurable and achievable.


       DIREKTUR & COO – MUKESH AGRAWAL
       Director & COO – Mukesh Agrawal
                                                            Tugas dan Tanggung Jawab
        No.
                                                             Duties and Responsibilities
         1    Mengawasi operasi harian perusahaan dan pekerjaan eksekutif (IT, Pemasaran, Penjualan, Keuangan dan lainnya).
              Oversee daily operations of the company and executive work (IT, Marketing, Sales, Finance and others).
         2    Berkomunikasi secara efektif dan mendorong pertumbuhan di antara tim eksekutif dan semua karyawan, serta memimpin
              karyawan untuk mendorong kinerja dan dedikasi yang maksimal.
              Communicate effectively and drive growth among the executive team and all employees, and lead employees to drive
              maximum performance and dedication.
         3    Merancang dan mengimplementasikan operasi bisnis, menetapkan kebijakan yang mempromosikan budaya dan visi
              perusahaan, dan mengawasi operasi perusahaan dan pekerjaan eksekutif.
              Design and implement business operations, establishes policies that promote corporate culture and vision, and oversees
              company operations and the work of executives.
         4    Menetapkan tujuan komprehensif untuk kinerja dan pertumbuhan.
              Set comprehensive goals for performance and growth.




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         KILAS           LAPORAN         PROFIL         ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
         KINERJA         MANAJEMEN       PERUSAHAAN     PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
         Performance     Management      Company        Management                     Corporate      Sustainability    Financial
         Overview        Report          Profile        Discussion And Analysis        Governance     Report            Report




DIREKTUR & COO – MUKESH AGRAWAL
Director & COO – Mukesh Agrawal
                                                     Tugas dan Tanggung Jawab
No.
                                                      Duties and Responsibilities

 5    Berkolaborasi dengan CEO dalam menetapkan dan mendorong visi organisasi, strategi operasional, dan kebutuhan
      perekrutan.
      Collaborate with the CEO in establishing and driving the organization's vision, operational strategy, and hiring needs.
 6    Memastikan perekrutan yang efektif, orientasi, pengembangan profesional, manajemen kinerja, dan retensi.
      Ensure effective recruitment, orientation, professional development, performance management and retention.
 7    Mengembangkan strategi dan rencana bisnis yang dapat ditindaklanjuti yang memastikan keselarasan dengan tujuan
      jangka pendek dan jangka panjang yang dikembangkan bersama dengan CEO.
      Develop actionable business strategies and plans that ensure alignment with short-term and long-term goals developed
      in conjunction with the CEO.
 8    Mengelola investasi modal dan pengeluaran secara agresif untuk memastikan perusahaan mencapai target investor relatif
      terhadap pertumbuhan dan profitabilitas.
      Manage capital investment and expenditure aggressively to ensure the company achieves investor targets relative to
      growth and profitability.
 9    Pantau kinerja dengan melacak dan menetapkan tindakan korektif sesuai kebutuhan, dan menyiapkan laporan terperinci,
      baik saat ini maupun perkiraan.
      Monitor performance by tracking and assigning corrective actions as needed, and preparing detailed reports, both
      current and forecast.


DIREKTUR & CFO – PRAKASH CHAND BUMB
Director & CFO – Prakash Chand Bumb
                                                     Tugas dan Tanggung Jawab
No.
                                                      Duties and Responsibilities
 1    Bertanggung jawab dalam Penilaian risiko jangka panjang dan peluang keuangan, peningkatan pendapatan perusahaan,
      peningkatan profitabilitas serta menerapkan strategi pendapatan baru
      Responsible for assessing long-term risks and financial opportunities, increasing company revenue, increasing profitability
      as well as implementing new revenue strategies
 2    Bertanggung jawab melakukan pengawasan terhadap keuangan Perusahaan baik dalam pelaksanaan dan juga
      pengelolaan keuangan
      Responsible for supervising the Company's finances both in the implementation and also in financial management
 3    Bertanggung jawab untuk melaporkan keuangan dalam bentuk yang detail, rinci, dan akurat kepada para stakeholders
      Responsible for reporting finances in a detailed, details, and accurate form to stakeholders
 4    Bertanggung jawab dalam menentukan kebijakan keuangan perusahaan yang sesuai dengan kondisi Perusahaan
      Responsible for determining the company's financial policy in accordance with the company's conditions
 5    Bertanggung jawab dalam menganalisis risiko keuangan Perusahaan
      Responsible for analyzing the Company's financial risks
 6    Menciptakan strategi ekonomi Perusahaan serta peluang bisnis
      Creating the Company's economic strategy as well as business opportunities
 7    Berperan sebagai katalis yang berarti mereka harus bisa memicu berbagai perkembangan supaya bisnis bisa berjalan
      sampai beberapa waktu ke depan
      Acting as a catalyst which means they must be able to trigger various developments so that the business can run for
      some time to the future




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       DIREKTUR – ISENTA
       Director – Isenta
                                                             Tugas dan Tanggung Jawab
        No.
                                                              Duties and Responsibilities
         1     Memimpin perusahaan dengan menerbitkan kebijakan-kebijakan perusahaan atau institusi.
               Lead the company by issuing company or institutional policies.
         2     Memilih, menetapkan, mengawasi tugas dari karyawan dan kepala bagian (manajer) atau wakil direktur.
               Selecting, assigning, supervising the duties of employees and section heads (managers) or deputy directors.
         3     Menyetujui anggaran Tahunan perusahaan atau institusi.
               Approve the annual budget of the company or institution.
         4     Menyampaikan laporan kepada Pemegang Saham atas kinerja perusahaan atau institusi.
               Submit reports to shareholders on the performance of the company or institution.
         5     Mengembangkan dan mengimplementasikan rencana dan tujuan departemen dengan cara yang efektif dan inovatif.
               Develop and implement departmental plans and objectives in an effective and innovative manner.
         6     Mengawasi dan mengkoordinasikan operasi sehari-hari.
               Supervise and coordinate day-to-day operations.
         7     Menjaga kepatuhan terhadap peraturan eksternal dan kebijakan internal.
               Maintain compliance with external regulations and internal policies.
         8     Menilai dan melaporkan kemajuan dalam memenuhi tujuan departemen.
               Assess and report progress in meeting departmental objectives.


      PERNYATAAN MENGENAI PEDOMAN                                         STATEMENT REGARDING THE
      DAN TATA TERTIB KERJA DIREKSI                                       GUIDELINES AND RULES OF DUTIES OF
                                                                          THE DIRECTORS
      Perseroan telah menerapkan Pedoman dan Tata Tertib                  The Company has implemented the Work Guidelines and
      Kerja bagi Direksi. Isi Pedoman telah sesuai dengan ketentuan       Charter for the Board of Directors. The contents of the
      serta perundangan-undangan yang berlaku, antara lain                Guidelines are following the provisions and legislation in
      mengatur mengenai tanggung jawab dan wewenang,                      force, including regulating responsibilities and authorities,
      mekanisme rapat, penilaian dan kriteria kinerja, serta benturan     meeting mechanisms, performance evaluations and criteria,
      kepentingan.                                                        conflicts of interest.

      KEBERAGAMAN DIREKSI                                                 BOARD OF DIRECTORS’ DIVERSITY
      Prinsip keberagaman anggota Direksi Perusahaan yang                 Diversity principle for the Board of Directors’ members of
      diterapkan antara lain adalah:                                      the Company is implemented as follows:
          1. Direksi terdiri dari 1 (satu) orang Presiden Direktir            1. The Board of Directors consists of 1 (one) President
             sekaligus sebagai CEO, 1 (satu) orang Direktur                       Director concurrent as CEO, 1 (one) Director concurrent
             sekaligus sebagai COO, 1 (satu) orang Direktur                       as COO, 1 (one) Director concurrent as CFO, and 1
             sekaligus sebagai CFO, dan 1 (orang) orang Direktur                  (one) other Director who are appointed by
             lainnya yang diangkat oleh Pemegang Saham melalui                    Shareholders through GMS.
             RUPS.
          2. Dari aspek usia, anggota Dewan komisaris memiliki               2. From the age aspect, the Board of Commissioners’
             rentang usia antara 36-60 tahun.                                   members have an age range between 36-60 years
                                                                                old.
         3. Latar belakang pendidikan anggota Dewan Komisaris                3. Education backgrounds of the Board of Commissioners’
            cukup beragam yakni bidang keuangan,                                members are varied from finance, entrepreneurship,
            kewirausahaan, teknologi, dan akuntansi.                            technology, and accounting.
         4. Latar belakang pengalaman pekerjaan yang cukup                   4. Working experiences backgrounds are varied
            beragam antara lain seperti bidang hubungan investor,               including investor relations, business development,
            pengembangan bisnis, teknik, keuangan, perbankan                    engineering, finance, banking and investment.
            dan investasi.


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            KILAS          LAPORAN       PROFIL        ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
            KINERJA        MANAJEMEN     PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
            Performance    Management    Company       Management                     Corporate      Sustainability    Financial
            Overview       Report        Profile       Discussion And Analysis        Governance     Report            Report




RAPAT DIREKSI                                                    BOARD OF DIRECTORS MEETING
Direksi Perseroan dalam melaksanakan tugasnya, seperti           The Board of Directors of the Company in carrying out its
diatur dalam POJK 33/2014 dan Anggaran Dasar Perseroan           duties, as stipulated in POJK 33/2014 and the Company’s
wajib menyelenggarakan rapat paling kurang 1 (satu) kali         Articles of Association must hold at least 1 (one) meeting
dalam setiap bulan. Penyelenggaraan rapat Dewan Direksi          every month. The Board of Directors meeting can be held
dapat dilakukan setiap waktu apabila:                            at any time if:

   1. Dipandang perlu oleh 1 (satu) atau beberapa anggota            1. It is deemed necessary by 1 (one) or several members
      Direksi; atau                                                     of the Board of Directors; or
   2. Atas permintaan secara tertulis dari seorang atau              2. At the written request of one or more members of
      lebih anggota Dewan Komisaris, dengan menyebutkan                 the Board of Commissioners, stating the matters to
      hal-hal yang akan dibicarakan.                                    be discussed.

Anggota Direksi yang memiliki kepentingan secara pribadi          Members of the Board of Directors who have personal
baik secara langsung maupun secara tidak langsung                interests, both directly and indirectly have an interest in a
mempunyai kepentingan dalam suatu transaksi, kontrak             proposed transaction, contract, or contract, in which the
atau kontrak yang diusulkan, dalam mana Perseroan menjadi        Company is one of the parties must state the nature of
salah satu pihaknya harus menyatakan sifat kepentingan           interest in a Board of Directors’ Meeting. As such, it also
dalam suatu Rapat Direksi. Karena itu pula tidak berhak          does not have the right to participate in voting on matters
untuk ikut dalam pengambilan suara mengenai hal-hal yang         relating to the transaction or contract, unless the Directors’
berhubungan dengan transaksi atau kontrak tersebut, kecuali      Meeting determines otherwise.
jika Rapat Direksi menentukan lain.

Hasil rapat Direksi harus terdokumentasi dalam bentuk            The results of the Board of Directors’ meeting shall be
risalah rapat yang berisi hal-hal yang dibicarakan (termasuk     documented in the form of minutes of the meeting which
pernyataan ketidaksetujuan/dissenting opinion anggota            contain the things discussed (including statements of
Direksi, jika ada) dan hal-hal yang diputuskan. Pelaksanaan      disapproval/dissenting opinions of the members of the
rapat Direksi dinyatakan sah dan berhak mengambil keputusan      Board of Directors, if any) and matters decided. The Board
yang mengikat apabila dihadiri oleh lebih dari 1/2 (satu per     of Directors meeting is declared valid and has the right to
dua) jumlah anggota Direksi atau wakilnya yang sah.              make binding decisions if attended by more than 1/2 (one
                                                                 half) of the number of members of the Directors or their
                                                                 authorized representatives.

Semua keputusan dalam Rapat Direksi diambil dengan               All decisions in the Board of Directors’ Meeting are taken
musyawarah untuk mufakat. Dalam hal keputusan tidak              by deliberation to reach consensus. If a decision cannot
dapat diambil dengan musyawarah mufakat, maka keputusan          be taken by consensus, the decision is made by agreeing
diambil dengan pemungutan suara setuju lebih dari 1/2 (satu      on more than 1/2 (one half) of the total number of valid votes
per dua) bagian dari jumlah suara yang sah yang dikeluarkan      cast at the meeting.
dalam rapat tersebut.

Keputusan Direksi yang sah dan mengikat dapat dibuat             Legitimate and binding Directors’ decisions can be made
tanpa mengadakan rapat Direksi, dengan ketentuan bahwa           without holding a Board of Directors meeting, provided that
semua anggota Direksi telah diberitahukan secara tertulis        all members of the Board of Directors have been notified
tentang usul-usul yang bersangkutan. Semua anggota               in writing of the proposals concerned. All members of the
Direksi juga harus memberikan persetujuan mengenai usul          Board of Directors must also give their approval regarding
yang diajukan secara tertulis serta menandatangani               the proposal submitted in writing and sign the agreement.
persetujuan tersebut. Keputusan yang diambil dengan cara         Decisions made in this way have the same strength as
demikian mempunyai kekuatan yang sama dengan keputusan           decisions taken legally at a Board of Directors meeting.
yang diambil dengan sah dalam rapat Direksi.




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      Sepanjang Tahun 2023, frekuensi dan kehadiran pada rapat         Throughout 2023, the frequency and attendance at Board
      Direksi adalah sebagai berikut:                                  of Directors meetings are as follows:


                                                       Rapat Direksi                       Rapat Direksi dan Dewan Komisaris
                                                 Board of Directors Meetings                 Joint Meeting of BOD and BOC

                                           Jumlah dan Persentase (%) Kehadiran            Jumlah dan Persentase (%) Kehadiran
           Nama           Jabatan          Number and Percentage of Attendance            Number and Percentage of Attendance
           Name           Position
                                                           Jumlah                                       Jumlah
                                      Jumlah Rapat                                    Jumlah Rapat
                                                         Kehadiran                                    Kehadiran
                                       Number of                               %       Number of                          %
                                                         Number of                                    Number of
                                        Meetings                                        Meetings
                                                         Attendance                                   Attendance
       Kanishk         Presiden             12                3                25            3             1            33,3
       Laroya*         Direktur

                       President
                       Director
       Mukesh          Direktur             12                12               100           3             3             100
       Agrawal         Director
       Prakash         Direktur             12                12               100           3             3             100
       Chand Bumb      Director
       Isenta          Direktur             12                12               100           3             3             100
                       Director
       * Bapak Kanishk Laroya baru menjabat sebagai Presiden Direktur per tanggal 4 Oktober 2023
       * Mr. Kanishk Laroya has just been appointed as President Director as of 4 October 2023




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            KILAS          LAPORAN       PROFIL        ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
            KINERJA        MANAJEMEN     PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
            Performance    Management    Company       Management                     Corporate      Sustainability    Financial
            Overview       Report        Profile       Discussion And Analysis        Governance     Report            Report




PENILAIAN KINERJA DIREKSI [GRI 2-18]                             BOARD OF DIRECTORS PERFORMANCE
                                                                 APPRAISAL [GRI 2-18]
Pemegang Saham akan memberikan penilaian atas                    Shareholders will provide an assessment of the achievement
pencapaian pelaksanaan tugas dan tanggung jawab Dewan            of the performance of the duties and responsibilities of the
Komisaris dan Direksi. Secara mandiri Direksi melaksanakan       Board of Commissioners and Directors. Independently the
penilaian kinerja, terhadap kriteria kinerja yang disepakati     Directors carry out performance evaluations, against the
secara kolektif oleh Direksi. Dewan Komisaris bersama-sama       performance criteria agreed collectively by the Directors.
dengan Direksi akan mempertanggungjawabkan pelaksanaan           The Board of Commissioners together with the Board of
tugas dan pencapaian kinerja untuk periode Tahun 2023            Directors will be responsible for carrying out the duties and
dalam RUPS Tahunan Perseroan yang akan diselenggarakan           performance achievements for the 2023 period in the
pada Tahun 2024.                                                 Annual General Meeting of the Company which will be held
                                                                 in year 2024.

Direksi belum mempunyai kebijakan penilaian sendiri (Self-       The Board of Directors does not yet have a self-assessment
Assessment) namun telah melakukan penilaian sendiri untuk        policy but has conducted a self-assessment to measure
mengukur kinerja mereka pada Tahun 2023 dan untuk                their performance in 2023 and to identify the strengths that
mengidentifikasi kelebihan yang harus mereka pertahankan,        they shall maintain, and the weaknesses that they shall
serta kekurangan yang harus mereka perbaiki.                     improve.



PENILAIAN KINERJA KOMITE YANG                                    PERFORMANCE APPRAISAL OF
MENDUKUNG PELAKSANAAN TUGAS                                      COMMITTEES THAT SUPPORT THE
DIREKSI                                                          IMPLEMENTATION OF BOARD OF
                                                                 DIRECTORS’ DUTIES
Selama Tahun 2023 Direksi dibantu oleh Komite Audit dan          During 2023 the Directors were assisted by the Audit
Satuan Internal Audit untuk menelaah laporan keuangan,           Committee and the Internal Audit Unit to review the financial
termasuk berkoordinasi dengan auditor eksternal dan kantor       statements, including coordinating with external auditors
akuntan publik independen, dalam lingkup dan hasil audit         and independent public accounting firms, in the scope and
Tahunan, memberikan masukan dan arahan pada Unit Audit           results of the annual audit, providing input and direction to
Internal untuk mempersiapkan rencana dan program kerja           the Internal Audit Unit to prepare the audit plan and work
audit Perseroan untuk Tahun berjalan dan memberikan              program. The Company for the current year and provides
rekomendasi pada Dewan Komisaris terkait penunjukan              recommendations to the Board of Commissioners regarding
auditor eksternal Perseroan.                                     the appointment of the Company's external auditor.




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      Nominasi dan Remunerasi
      Dewan Komisaris dan Direksi
      Nomination and Remuneration of The Baord of
      Commissioners and Board of Directors [GRI 2-10, 2-19, 2-20, 2-21]

      KEBIJAKAN NOMINASI DEWAN                                        NOMINATION POLICY FOR THE BOARD
      KOMISARIS DAN DIREKSI                                           OF COMMISSIONERS AND BOARD OF
                                                                      DIRECTORS

      Pengangkatan dan Pemberhentian Anggota                          Appointment and Dismissal of Members of
      Dewan Komisaris                                                 the Board of Commissioners

      Pengangkatan dan pemberhentian anggota Dewan Komisaris          The appointment and dismissal of members of the Board
      ditentukan oleh RUPS berdasarkan rekomendasi Dewan              of Commissioners is determined by the GMS based on the
      Komisaris dalam pelaksanaan mereka atas fungsi nominasi.        recommendation of the Board of Commissioners as part of
      Dikarenakan ESSA merupakan perusahaan terbuka, kandidat         their nomination function. Since ESSA is a publicly listed
      Dewan Komisaris ESSA yang dinominasikan harus memenuhi          company, the nominated candidate for the Board of
      persyaratan sebagaimana yang diatur dalam Piagam Dewan          Commissioners of ESSA shall meet the requirements as
      Komisaris, serta aturan dan regulasi pasar modal, yang pada     stipulated in the Board of Commissioners Charter, as well
      umumnya mengatur sebagai berikut:                               as capital market rules and regulations, which generally
                                                                      stipulate the following:
         •   Setiap komisaris harus memiliki integritas, kompetensi       • Each commissioner shall have integrity, competence
             dan reputasi yang baik, bertindak dengan itikad baik;            and good reputation, act in good faith;
         •   Hati-hati dan bertanggung jawab; dan memprioritaskan         • Be prudent and responsible; and prioritize the best
             kepentingan terbaik perusahaan.                                  interests of the company.
         •   Setiap komisaris harus memiliki pemahaman yang               • Each commissioner shall have a good understanding
             baik mengenai Anggaran Dasar perusahaan, aturan                  of the company's Articles of Association, rules and
             dan regulasi pasar modal, UU PT, dan peraturan                   capital market regulations, Law of Limited Liability
             perundang-undangan lainnya yang berlaku.                         Companies, and other applicable laws and regulations.
         •   Setiap komisaris harus memiliki pemahaman yang               • Each commissioner shall have a good understanding
             baik mengenai prinsip-prinsip GCG dan tanggung                   of GCG principles and environment responsibilities.
             jawab lingkungan.
         •   Setiap komisaris harus menjalankan tugas-tugasnya           •   Each commissioner shall carry out his/her duties
             tanpa benturan kepentingan.                                     without conflict of interest.

      Masa kerja anggota Dewan Komisaris akan berakhir dengan         The term of service of a member of the Board of Commissioners
      sendirinya dalam kondisi-kondisi anggota yang bersangkutan:     will end automatically under the following conditions:
         1. Mengundurkan diri;                                             1. Resignation;
         2. Tidak lagi memenuhi persyaratan UU dan peraturan               2. No longer fulfills the requirements of applicable laws
              yang berlaku;                                                   and regulations;
         3. Meninggal dunia;                                               3. Deceased;
         4. Masa jabatannya berakhir; dan/atau                             4. End of term of office; and/or
         5. Diberhentikan oleh RUPS.                                       5. Dismissed by the GMS.
      Selain itu, mekanisme pemberhentian anggota Dewan               In addition, the mechanism for dismissing members of the
      Komisaris yang terbukti terlibat dalam kejahatan keuangan       Board of Commissioners who are proven to be involved in
      akan dimasukkan ke dalam Piagam Dewan Komisaris.                financial crimes will be included in the Charter of the Board
                                                                      of Commissioners.

      PENGANGKATAN DAN                                                APPOINTMENT AND DISMISSAL
      PEMBERHENTIAN ANGGOTA DIREKSI                                   OF MEMBERS OF THE BOARD OF
                                                                      DIRECTORS
      Penunjukan anggota Direksi dilakukan melalui RUPS untuk         The appointment of members of the Board of Directors is
      jangka waktu tertentu yang tidak melebihi 5 (lima) Tahun.       carried out through the GMS for a certain period not exceeding


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            KILAS          LAPORAN      PROFIL       ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
            KINERJA        MANAJEMEN    PERUSAHAAN   PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
            Performance    Management   Company      Management                     Corporate      Sustainability    Financial
            Overview       Report       Profile      Discussion And Analysis        Governance     Report            Report




Mereka dapat diangkat kembali setelah berakhirnya masa         5 (five) years. They can be reappointed after the end of
jabatan.                                                       their term of office.

Masa kerja anggota Direksi akan berakhir dengan sendirinya     The term of office of a member of the Board of Directors
dalam kondisi-kondisi anggota yang bersangkutan:               will end automatically under the following conditions:
   1. Mengundurkan diri;                                            1. Resign;
   2. Tidak lagi memenuhi persyaratan UU dan peraturan              2. No longer fulfills the requirements of applicable laws
      yang berlaku;                                                    and regulations;
   3. Meninggal dunia;                                              3. Deceased;
   4. Masa jabatannya berakhir; dan/atau                            4. End of term of office; and/or
   5. Diberhentikan oleh RUPS.                                      5. Dismissed by the GMS.

Kriteria Anggota Direksi                                       Criteria for Members of the Board of Directors

Pemegang Saham Perseroan dalam mengangkat Anggota              The Company’s Shareholders in appointing members of
Direksi berpedoman pada POJK 33/2014, khususnya terkait        the Board of Directors are guided by POJK 33/2014,
kriteria yang harus dipenuhi oleh Anggota Direksi, yang        particularly concerning the criteria that must be met by
terdiri dari:                                                  members of the Board of Directors, consisting of:
1. Mempunyai akhlak, moral, dan integritas yang baik;          1. Having good character, morals, and integrity;
2. Cakap melakukan perbuatan hukum;                            2. Competent in carrying out legal actions;
3. Dalam 5 (lima) Tahun sebelum pengangkatan dan selama        3. Within 5 (five) years before the appointment and during
    menjabat:                                                     his tenure:
    a. Tidak pernah dinyatakan pailit;                            a. Never declared bankrupt;
    b. Tidak pernah menjadi anggota Direksi dan/atau              b. Never been a member of the Board of Directors and/
         anggota Dewan Komisaris yang dinyatakan bersalah             or a member of the Board of Commissioners who
         menyebabkan suatu perusahaan dinyatakan pailit;              was found guilty of causing a company to go bankrupt;
    c. Tidak pernah dihukum karena melakukan tindakpidana         c. Has never been convicted of a criminal offense that
         yang merugikan keuangan negara dan/atau yang                 is detrimental to the country’s finances and/or related
         berkaitan dengan sektor keuangan; dan                        to the financial sector; and
    d. Tidak pernah menjadi anggota Direksi dan/atau              d. Never been a member of the Board of Directors and/
         anggota Dewan Komisaris yang selama menjabat:                or members of the Board of Commissioners who
                                                                      during his tenure:
        -Pernah tidak menyelenggarakan RUPS Tahunan;                  - Never held an annual GMS;
        -Pertanggungjawabannya sebagai anggota Direksi                - Accountability as a member of the Board of
         dan/atau anggota Dewan Komisaris pernah tidak                    Directors and/or member of the Board of
         diterima oleh RUPS atau pernah tidak memberikan                  Commissioners has never been accepted by the
         pertanggungjawaban sebagai anggota Direksi                       GMS or has not provided accountability as a
         dan/atau anggota Dewan Komisaris kepada                          member of the Board of Directors and/or member
         RUPS; dan                                                        of the Board of Commissioners to the GMS; and
      - Pernah menyebabkan perusahaan yang                            - Has caused companies that obtained permits,
         memperoleh izin, persetujuan, atau pendaftaran                   approvals, or registrations from OJK to not fulfill
         dari OJK tidak memenuhi kewajiban menyampaikan                   the obligation to submit annual reports and/or
         laporan Tahunan dan/atau laporan keuangan                        financial reports to OJK.
         kepada OJK.
   e. Memiliki komitmen untuk mematuhi peraturan                   e. Committing to comply with laws and regulations;
      perundang-undangan; dan                                         and

   f.   Memiliki kemampuan, pengetahuan, pengalaman                f.   Have the ability, knowledge, experience, and/or
        dan/atau keahlian di bidang yang dibutuhkan                     expertise in the fields required by the Company.
        Perseroan.




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      KEBIJAKAN REMUNERASI DEWAN                                     REMUNERATION POLICY FOR THE BOARD
      KOMISARIS DAN DIREKSI                                          OF COMMISSIONERS AND BOARD OF
                                                                     DIRECTORS
      Kebijakan besaran remunerasi Dewan Komisaris dan Direksi       The policy for the amount of remuneration for the Board of
      ditetapkan dalam RUPS berdasarkan atas pencapaian kinerja      Commissioners and the Board of Directors is determined
      Dewan Komisaris dan Direksi. Kebijakan Remunerasi dilakukan    in the GMS based on the performance achievements of the
      sesuai dengan ketentuan yang berlaku, serta dikaji ulang       Board of Commissioners and the Board of Directors. The
      secara berkala. Adapun remunerasi dan fasilitas yang           Remuneration Policy is carried out in accordance with
      diterima Dewan Komisaris dan Direksi selama Tahun 2023         applicable regulations and is reviewed periodically. The
      adalah sebesar USD 410.226 lebih rendah bila dibandingkan      remuneration and facilities received by the Board of
      dengan Tahun 2022 sebesar USD 445.779.                         Commissioners and Directors during 2023 amounted to
                                                                     USD 410,226 lower than 2022 which amounted to USD
                                                                     445,779.

      Hubungan antara Kinerja Perseroan dan Remunerasi               Relationship between Company Performance and
                                                                     Remuneration

      Kinerja Perseroan yang baik, berkembang positif, tingkat       The Company's good performance, positive development,
      keuntungan/net profit setiap Tahunnya, serta implementasi      the level of profit/net profit each year, as well as the
      tata kelola (Corporate Governance) dapat mempengaruhi          implementation of corporate governance can affect the
      besaran remunerasi yang diterima setiap karyawan Perseroan.    amount of remuneration received by each of the Company's
      Perseroan juga selalu memperhatikan kesejahteraan karyawan     employees. The Company also always pays attention to
      serta selalu menaati Peraturan Batas UMP Regional.             the welfare of employees and always complies with Regional
                                                                     Minimum Wage Regulations.


      Komite di Bawah Dewan Komisaris
      Committees Under The Board of Commissioners


      KOMITE AUDIT                                                   AUDIT COMMITTEE
      Komite Audit Perseroan dibentuk dengan mengacu pada            The Company's Audit Committee was formed referring to
      POJK 55/2015, merupakan alat kelengkapan Dewan Komisaris       POJK 55/2015, which serves as a tool for the Board of
      yang berfungsi untuk melakukan pengawasan atas efektivitas     Commissioners whose function is to supervise the
      sistem pengendalian intern, internal audit, proses pelaporan   effectiveness of the internal control system, internal audit
      keuangan, sehingga Perseroan dapat dikelola berdasarkan        and financial reporting processes, so that the Company
      GCG secara tepat. Komite Audit dibentuk berdasarkan Surat      can be managed based on GCG appropriately. The Audit
      Keputusan Dewan Komisaris No. 0002/SK/BOC-CMAD/2023            Committee was formed based on the Decree of the Board
      tanggal 2 Mei 2023 dan No. 0004/SK/BOC-CMAD/2023               of Commissioners No. 0002/SK/BOC-CMAD/2023 dated 2
      tanggal 2 November 2023.                                       May 2023 and No. 0004/SK/BOC-CMAD/2023 dated 2
                                                                     November 2023.

      Komite Audit dibentuk dengan tujuan untuk melaksanakan         The Audit Committee was formed to carry out independent
      pengawasan independen atas proses laporan keuangan             oversight of the financial reporting and external audit
      dan audit eksternal. Tujuan lainnya adalah untuk memberikan    processes. Other objectives are to provide independent
      pengawasan independen atas proses manajemen risiko             oversight of the risk management and control process and
      dan kontrol, serta untuk melaksanakan pengawasan               to carry out independent oversight of the Company's
      independen atas proses tata kelola Perseroan.                  governance processes.




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            KILAS            LAPORAN         PROFIL          ANALISIS DAN                   TATA KELOLA    LAPORAN            LAPORAN
            KINERJA          MANAJEMEN       PERUSAHAAN      PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN      KEUANGAN
            Performance      Management      Company         Management                     Corporate      Sustainability     Financial
            Overview         Report          Profile         Discussion And Analysis        Governance     Report             Report




Adapun dasar Peraturan terkait rangkap jabatan Komite                  The basic regulations related to the dual positions of the
Audit adalah sebagai berikut:                                          Audit Committee are as follows:
1. Menurut POJK No. 33 /POJK.04/2014                                   1. According to POJK No. 33 /POJK.04/2014
   Dalam hal Komisaris Independen menjabat pada Komite                    In the event that the Independent Commissioner serves
   Audit, Komisaris Independen yang bersangkutan hanya                    on the Audit Committee, the relevant Independent
   dapat diangkat Kembali pada Komite Audit untuk 1 (satu)                Commissioner can only be reappointed to the Audit
   periode masa jabatan Komite Audit berikutnya.                          Committee for the next 1 (one) term of office of the Audit
                                                                          Committee.
2. Menurut POJK No. 55 /POJK.04/2015                                   2. According to POJK No. 55 /POJK.04/2015
   Masa tugas anggota Komite Audit tidak boleh lebih lama                 The term of office of members of the Audit Committee
   dari masa jabatan Dewan Komisaris sebagaimana diatur                   may not be longer than the term of office of the Board
   dalam Anggaran Dasar dan dapat dipilih kembali hanya                   of Commissioners as stipulated in the Articles of
   untuk 1 (satu) periode berikutnya.                                     Association and may be re-elected only for the next 1
                                                                          (one) period.

Persyaratan Keanggotaan                                                Membership Requirements

 1     Wajib memiliki integritas yang tinggi, kemampuan, pengetahuan, pengalaman sesuai dengan bidang pekerjaannya, serta
       mampu berkomunikasi dengan baik;
       Shall have high integrity, ability, knowledge, experience in accordance with the field of work, and be able to communicate
       well;
 2     Wajib memahami laporan keuangan, bisnis perusahaan khususnya yang terkait dengan layanan jasa atau kegiatan usaha
       Emiten atau Perusahaan Publik, proses audit, manajemen risiko, dan peraturan perundang-undangan di bidang Pasar Modal
       serta peraturan perundang-undangan terkait lainnya;
       Shall understand financial statements, company business especially those related to the services or business activities of
       Issuers or Public Companies, audit processes, risk management, and laws and regulations in the Capital Market sector as
       well as other relevant laws and regulations;
 3     Wajib mematuhi kode etik Komite Audit yang ditetapkan oleh Emiten atau Perusahaan Publik;
       Obliged to comply with the code of ethics of the Audit Committee set by the Issuer or Public Company;
 4     Bersedia meningkatkan kompetensi secara terus menerus melalui pendidikan dan pelatihan;
       Willing to improve competence continuously through education and training;
 5     Wajib memiliki paling sedikit 1 (satu) anggota yang berlatar belakang pendidikan dan keahlian di bidang akuntansi dan
       keuangan;
       Shall have at least 1 (one) member with educational background and expertise in accounting and finance;
 6     Bukan merupakan orang dalam Kantor Akuntan Publik, Kantor Konsultan Hukum, Kantor Jasa Penilai Publik atau pihak lain
       yang memberi jasa asuransi, jasa non-asuransi, jasa penilai dan/atau jasa konsultasi lain kepada Emiten atau Perusahaan
       Publik yang bersangkutan dalam waktu 6 (enam) bulan terakhir;
       Not a person in a Public Accounting Firm, Legal Consulting Firm, Public Appraisal Service Firm or other party providing
       assurance services, non-assurance services, appraisal services and/or other consulting services to the Issuer or Public
       Company concerned within 6 (six) last month;
 7     Tidak mempunyai saham langsung maupun tidak langsung pada Emiten atau Perusahaan Publik;
       Does not own shares directly or indirectly in Issuers or Public Companies;
 8     Dalam hal anggota Komite Audit memperoleh saham Emiten atau Perusahaan Publik baik langsung maupun tidak langsung
       akibat suatu peristiwa hukum, saham tersebut wajib dialihkan kepada pihak lain dalam jangka waktu paling lama 6 (enam)
       bulan setelah diperolehnya saham tersebut;
       In the event that a member of the Audit Committee acquires shares of an Issuer or Public Company, either directly or
       indirectly as a result of a legal event, the shares must be transferred to another party within a maximum period of 6 (six)
       months after the acquisition of the shares;
 9     Tidak mempunyai hubungan Afiliasi dengan anggota Dewan Komisaris, anggota Direksi, atau Pemegang Saham Utama
       Emiten atau Perusahaan Publik; dan
       Has no affiliation with members of the Board of Commissioners, members of the Board of Directors, or Major Shareholders
       of Issuers or Public Companies; and
 10    Tidak mempunyai hubungan usaha baik langsung maupun tidak langsung yang berkaitan dengan kegiatan usaha Emiten
       atau Perusahaan Publik.
       Does not have a business relationship, either directly or indirectly, related to the business activities of the Issuer or Public
       Company.


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      Sustaining Operational Excellence




      Penilaian Kinerja Komite Audit Yang                                 Assessment of the Performance of the
      Mendukung Pelaksanaan Tugas Dewan                                   Audit Committee that Supports the
      Komisaris                                                           Implementation of the Duties of the Board of
                                                                          Commissioners
                                                             Kriteria                                                  Implementasi
        No.
                                                             Criteria                                                 Implementation
         1    Rapat komite diselenggarakan sesuai dengan tata cara yang tercantum dalam piagam (charter)                     v
              komite. Rapat dimaksud dihadiri oleh mayoritas anggota komite.
              Committee meetings are held in accordance with the procedures stated in the committee charter.
              The meeting was attended by a majority of committee members.
         2    Pengambilan keputusan rapat komite dilakukan berdasarkan musyawarah mufakat, dalam hal tidak                   v
              tercapai musyawarah mufakat pengambilan keputusan dilakukan atau sesuai ketentuan yang
              berlaku berdasarkan suara terbanyak.
              Committee meeting decisions are made based on deliberation for consensus, in the event that
              consensus is not reached, decision making is carried out or in accordance with applicable
              regulations based on majority vote.
         3    Melakukan penelaahan atas informasi keuangan yang akan dikeluarkan Perseroan kepada publik                     v
              dan/atau pihak otoritas antara lain laporan keuangan, proyeksi, dan laporan lainnya terkait dengan
              informasi keuangan Perseroan.
              Reviewing the financial information to be issued by the Company to the public and/or authorities,
              including financial statements, projections, and other reports related to the Company's financial
              information.
         4    Melakukan penelaahan atas ketaatan Perseroan terhadap peraturan perundang-undangan yang                        v
              berhubungan dengan kegiatan usaha Perseroan.
              Reviewing the Company's compliance with laws and regulations related to the Company's
              business activities.
         5    Memberikan pendapat independen dalam hal terjadi perbedaan pendapat antara manajemen dan                       v
              Akuntan atas jasa yang diberikan.
              Providing an independent opinion in the event of a difference of opinion between the
              management and the accountant on the services provided.
         6    Melakukan penelaahan atas pelaksanaan pemeriksaan oleh auditor internal dan mengawasi                          v
              pelaksanaan tindak lanjut oleh Direksi atas temuan auditor internal.
              Reviewing the implementation of the audit by the internal auditors and supervising the
              implementation of follow-up actions by the Board of Directors on the findings of the internal
              auditors.
         7    Menelaah dan memberikan saran kepada Dewan Komisaris terkait dengan adanya potensi                             v
              benturan kepentingan Perseroan.
              Reviewing and providing advice to the Board of Commissioners regarding potential conflicts of
              interest in the Company.


      STRUKTUR KOMITE AUDIT                                               AUDIT COMMITTEE STRUCTURE

                  Jabatan                             Nama                                           Masa Jabatan
                  Position                            Name                                           Term of Office
       Ketua                          Hamid Awaluddin                         2023-2028, periode ke -1
       Chairman                                                               2023-2028, 1st period
       Anggota                        Herry Bertus Wiseno Widjanarko          2023-2028, periode ke -1, diangkat kembali setelah vakum
       Member                                                                 selama 6 bulan dari periode ke-2
                                                                              2023-2028, 1st period, reappointed after a 6 month hiatus
                                                                              from the 2nd period
       Anggota                        Arina Imamawati                         2023-2028, periode ke -1
       Member                                                                 2023-2028, 1st period

      *Susunan Komite per 2 November 2023
      *Committee Composition as of 2 November 2023




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            KILAS          LAPORAN       PROFIL        ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
            KINERJA        MANAJEMEN     PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
            Performance    Management    Company       Management                     Corporate      Sustainability    Financial
            Overview       Report        Profile       Discussion And Analysis        Governance     Report            Report




Profil Komite Audit                                              Profile of the Audit Committee

Hamid Awaluddin
Ketua Komite Audit | Chairman of the Audit Committee

Beliau mulai menjabat sebagai Ketua Komite Audit Perseroan       He has served as Chairman of the Company's Audit
sejak 2 Mei 2023, serta merangkap sebagai Presiden               Committee since 2 May 2023, and concurrently serves as
Komisaris dan Komisaris Independen Perseroan. Profil beliau      President Commissioner and Independent Commissioner
sebagai Ketua Komite Audit dapat dilihat pada Bab Profil         of the Company. His profile as Chairman of the Audit
Perusahaan, sub bab Profil Dewan Komisaris.                      Committee can be seen in the Company Profile Chapter,
                                                                 Board of Commissioners Profile sub-chapter.

Herry Bertus Wiseno Widjanarko
Anggota Komite Audit | Audit Committee Member

Warga Negara Indonesia, saat ini berusia 56 Tahun, menjabat      Indonesian citizen, currently 56 years old, has served again
kembali sebagai anggota Komite Audit sejak 2 November            as a member of the Audit Committee since 2 November
2023. Sebelumnya Beliau menjabat sebagai anggota Komite          2023. Previously, he served as a member of the Company's
Audit Perseroan pada dua periode yaitu Tahun 2013 sampai         Audit Committee for two periods, namely 2013 to April 2023.
dengan April 2023. Beliau menyelesaikan pendidikan dengan        He completed his education with an Engineering degree
gelar Insinyur Jurusan Teknik Nuklir dari Universitas Gadjah     majoring in Nuclear Engineering from Gadjah Mada University
Mada pada Tahun 1991, kemudian meraih gelar Master of            in 1991, then earned a Master of Science degree majoring
Science Jurusan Teknik Industri di Cleveland University,         in Industrial Engineering at Cleveland University, Ohio, USA
Ohio, USA Tahun 1995 dan gelar Master of Business                in 1995 and a Master of Business Administration degree in
Administration pada Tahun 1994.                                  1994.

Pengalaman Kerja:                                                Work Experience:
• November 2023 – sekarang: Anggota Komite Audit                 • November 2023 – present: Member of Audit Committee
   Perseroan                                                       of the Company
• Juli 2012-Juni 2023: Director PT Techindo Daya Energy          • July 2012-June 2023: Director of PT Techindo Daya Energy
• Maret 2017-Juni 2021: Komite Audit PT Telekomunikasi           • March 2017-June 2021: Audit Committee of PT
   Infrastruktur Tbk.                                              Telekomunikasi Infrastruktur Tbk.
• Oktober 2013-Desember 2016: TUV Auditor Expert Area            • Oct 2013-Dec 2016: TUV Auditor Expert Area 22 at PT
   22 di PT TUV Rheinland Indonesia                                TUV Rheinland Indonesia
• 2008-2011: Quality Management System Specialist                • 2008-2011: Quality Management System Specialist
   Mercedes Benz Indonesia                                         Mercedes Benz Indonesia
• 2005- 2011: Environment Management Representative              • 2005- 2011: Environment Management Representative
   di Daimler Chrysler Group Indonesia                             at Daimler Chrysler Group Indonesia
• 2004-2007: Quality Management System Department                • 2004-2007: Quality Management System Department
   Manager di Daimler Chrysler Group Indonesia                     Manager at Daimler Chrysler Group Indonesia
• 2002-2003: Quality System and Process Section Manager          • 2002-2003: Quality System and Process Section Manager
   di Daimler Chrysler Group Indonesia                             at Daimler Chrysler Group Indonesia
• 1999-2001: Quality Engineering Section Manager di              • 1999-2001: Quality Engineering Section Manager at
   Daimler Chrysler Group Indonesia                                Daimler Chrysler Group Indonesia
• 1996-1998: Wakil Presiden Logistik of PT Steady Safe Tbk       • 1996-1998: Vice President Logistics of PT Steady Safe Tbk




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      Arina Imamawati
      Anggota Komite Audit | Audit Committee Member

      Warga negara Indonesia, saat ini berusia 45 Tahun, menjabat      Indonesian citizen, currently 45 years old, has served as a
      sebagai anggota Komite Audit sejak 2 Mei 2023. Beliau            member of the Audit Committee since 2 May 2023. He
      menyelesaikan pendidikan dari Ekonomi Akuntansi,                 completed his education from Accounting Economics,
      Universitas Indonesia di Tahun 2000, dengan gelar Sarjana        University of Indonesia in 2000, with a Bachelor of Accounting
      Akuntansi.                                                       degree.

      Pengalaman Kerja:                                                Work Experience:
      • Mei 2023 – sekarang: Anggota Komite Audit Perseroan            • May 2023 – present: Member of the Company's Audit
                                                                         Committee
      •     Januari 2019 – Desember 2022: Finance Director PT          • January 2019 – December 2022: Finance Director of
            Conwood Indonesia                                            PT Conwood Indonesia
      •     Februari 2018-Januari 2019: Head of Finance and            • February 2018-January 2019: Head of Finance and
            Accounting Division PT MRT Jakarta                           Accounting Division PT MRT Jakarta
      •     Februari 2016-Februari 2018: Head of Treasury, Insurance   • February 2016-February 2018: Head of Treasury,
            and Pension PT Holcim Indonesia Tbk                          Insurance and Pension PT Holcim Indonesia Tbk
      •     September 2012-Februari 2016: Treasury and Financial       • September 2012-February 2016: Treasury and Financial
            Evaluation Manager PT Holcim Indonesia Tbk                   Evaluation Manager PT Holcim Indonesia Tbk
      •     Oktober 2009 - Agustus 2012: Business Planning and         • October 2009 - August 2012: Business Planning and
            Analysis Manager and Business Intelligence Coordinator       Analysis Manager and Business Intelligence Coordinator
            PT Holcim Indonesia Tbk                                      PT Holcim Indonesia Tbk
      •     September 2006 - Oktober 2009: Senior Business             • September 2006 - October 2009: Senior Business
            Analyst PT Holcim Indonesia Tbk                              Analyst PT Holcim Indonesia Tbk
      •     September 2000-September 2006: Assurance Services          • September 2000-September 2006: Assurance Services
            Assistant Manager KAP Haryanto Sahari & Rekan, member        Assistant Manager KAP Haryanto Sahari & Rekan,
            of PricewaterhouseCoopers                                    member of PricewaterhouseCoopers

      Tugas, Tanggung Jawab, dan Wewenang                              Duties, Responsibilities, and Authorities of
      Komite Audit                                                     the Audit Committee

      Tugas dan tanggung jawab Komite Audit telah tercantum            Duties and responsibilities of the Audit Committee have
      dalam Piagam Komite Audit yang meliputi:                         been listed in the Audit Committee Charter which includes:

      1.    Melakukan penelaahan atas informasi keuangan yang          1.   Reviewing the financial information to be issued by the
            akan dikeluarkan Emiten atau Perusahaan Publik kepada           Issuer or Public Company to the public and/or authorities,
            publik dan/atau pihak otoritas antara lain laporan              including financial statements, projections and other
            keuangan, proyeksi, dan laporan lainnya terkait dengan          reports related to the Company's financial information;
            informasi keuangan Perseroan;
      2.    Melakukan penelaahan atas ketaatan terhadap peraturan      2. Reviewing compliance with laws and regulations relating
            perundang­undangan yang berhubungan dengan kegiatan           to the Company's business activities;
            usaha Perseroan;
      3.    Memberikan pendapat independen dalam hal terjadi           3. Providing an independent opinion in the event of
            perbedaan pendapat antara manajemen dan Akuntan               disagreement between management and the Accountant
            atas jasa yang diberikannya;                                  for the services provided;
      4.    Memberikan rekomendasi kepada Dewan Komisaris              4. Provide recommendations to the Board of Commissioners
            mengenai penunjukan Akuntan yang didasarkan pada              regarding the appointment of an Accountant based on
            independensi, ruang lingkup penugasan, dan fee;               independence, the scope of the assignment, and fees;
      5.    Melakukan penelaahan atas pelaksanaan pemeriksaan          5. Reviewing the audit by the internal auditor and overseeing
            oleh auditor internal dan mengawasi pelaksanaan tindak        the implementation of the follow-up by the Board of
            lanjut oleh Direksi atas temuan auditor internal;             Directors on the findings of the internal auditor;


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            KILAS          LAPORAN       PROFIL        ANALISIS DAN                   TATA KELOLA    LAPORAN             LAPORAN
            KINERJA        MANAJEMEN     PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN       KEUANGAN
            Performance    Management    Company       Management                     Corporate      Sustainability      Financial
            Overview       Report        Profile       Discussion And Analysis        Governance     Report              Report




6. Melakukan penelaahan terhadap aktivitas pelaksanaan           6. Reviewing the implementation of risk management
   manajemen risiko yang dilakukan oleh Direksi, jika               activities carried out by the Board Directors if the Company
   Perseroan tidak memiliki fungsi pemantau risiko di bawah         does not have a risk monitoring function under the
   Dewan Komisaris;                                                 Board of Commissioners;
7. Menelaah pengaduan yang berkaitan dengan proses               7. Examining complaints relating to the Company's
   akuntansi dan pelaporan keuangan Perseroan;                      accounting and financial reporting processes;
8. Menelaah dan memberikan saran kepada Dewan Komisaris          8. Analyzing and advising the Board of Commissioners
   terkait dengan adanya potensi benturan kepentingan               related to the potential conflict of interests of the
   Perseroan; dan                                                   Company; and
9. Menjaga kerahasiaan dokumen, data dan informasi               9. Maintaining the confidentiality of the Company's
   Perseroan.                                                       documents, data, and information.

Atas tugas dan tanggung jawabnya, wewenang Komite                For its duties and responsibilities, the Audit Committee's
Audit meliputi:                                                  authority includes:
1. Mengakses dokumen, data, dan informasi Perseroan              1. Accessing documents, data, and information about the
   tentang karyawan, dana, aset, dan sumber daya                    Company's employees, funds, assets, and company
   perusahaan yang diperlukan;                                      resources needed;
2. Berkomunikasi langsung dengan karyawan, termasuk              2. Communicating directly with employees, including
   Direksi dan pihak yang menjalankan fungsi audit internal,        Directors and parties who carry out the functions of
   manajemen risiko, dan Akuntan terkait tugas dan tanggung         internal audit, risk management, and accountants related
   jawab Komite Audit;                                              to the duties and responsibilities of the Audit Committee;
3. Melibatkan pihak independen di luar anggota Komite            3. Involving independent parties outside the Audit Committee
   Audit yang diperlukan untuk membantu pelaksanaan                 members needed to assist in carrying out their duties
   tugasnya (jika diperlukan); dan                                  (if needed); and
4. Melakukan kewenangan lainnya yang diberikan oleh              4. Performing other authorities granted by the Board of
   Dewan Komisaris.                                                 Commissioners.

Dalam melaksanakan tugasnya melakukan pembagian                  In carrying out its duties carry out the division of responsibilities
tanggung jawab di antara masing-masing anggotanya,               among each of its members, as follows:
sebagai berikut:

1. Pengawasan penerapan GCG dan pemenuhan Perseroan              1. Supervision of the implementation of GCG and the
   atas ketentuan hukum yang berlaku koordinasi dipimpin            fulfillment of the Company with the applicable legal
   oleh Bapak Ida Bagus Rahmadi Supancana;                          provisions is led by Mr. Ida Bagus Rahmadi Supancana;
2. Analisis dan evaluasi terhadap laporan keuangan dan           2. Analysis and evaluation of the financial statements and
   sistem pengendalian internal koordinasi dipimpin oleh            the coordinated internal control system were led by Ms.
   Ibu Suhartati;                                                   Suhartati;
3. Analisis dan evaluasi penerapan manajemen risiko              3. Analysis and evaluation of the application of coordinated
   koordinasi dipimpin oleh Bapak Herry B. W. Widjanarko;           risk management was led by Herry B. W. Widjanarko;



Piagam Komite Audit                                              Audit Committee Charter

Piagam Komite Audit dan Kode Etik Komite Audit Perseroan         The Audit Committee Charter and the Company's Audit
telah disesuaikan dengan Peraturan Otoritas Jasa Keuangan        Committee Code of Ethics have been adjusted to the
Nomor 55/POJK.04/2015 tentang Pembentukan dan Pedoman            Financial Services Authority Regulation Number 55/
Pelaksanaan Kerja Komite Audit, dan akan ditinjau secara         POJK.04/2015 concerning the Establishment and Guidelines
berkala.                                                         for the Audit Committee's Work Implementation, and will
                                                                 be reviewed periodically.




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      Independensi Komite Audit                                           Independence of Audit Committee

      Untuk mengetahui independensi anggota Komite Audit                  To determine the independence of the members of the
      Perusahaan, dapat dilihat dari data hubungan keluarga,              Company's Audit Committee, it can be seen from the data
      keuangan, kepengurusan dan kepemilikan dari masing-                 on family relations, finances, management and ownership
      masing anggota Komite Audit. Hubungan keluarga dan                  of each member of the Audit Committee. The family and
      keuangan dari anggota Komite Audit dengan anggota Dewan             financial relationships of members of the Audit Committee
      Komisaris dan/atau anggota Direksi serta Pemegang Saham             with members of the Board of Commissioners and/or
      Perusahaan adalah sebagai berikut:                                  members of the Board of Directors and shareholders of the
                                                                          Company are as follows:


                                                        Hubungan Keluarga, Keuangan, Kepengurusan dengan Komisaris
                         Nama
                                                         Family, Financial, Management Relationship with Commissioners
           No.           Name
                                             Hamid            Chander Vinod         Rahul           Arif          Ida Bagus Rahmadi
                                            Awaluddin            Laroya              Puri         Rachmat             Supancana
       1         Hamid Awaluddin                                     -                    -          -                    -

       2         Herry Bertus Wiseno              -                  -                    -          -                    -
                 Widjanarko
       3         Arina Imamawati                  -                  -                    -          -                    -


                                                              Hubungan Keluarga, Keuangan, Kepengurusan dengan Direktur
                                Nama                             Family, Financial, Management Relationship with Directors
           No.
                                Name
                                                         Kanishk Laroya       Mukesh Agrawal             Prakash Chand Bumb     Isenta
       1         Hamid Awaluddin                               -                      -                          -                 -

       2         Herry Bertus Wiseno Widjanarko                -                      -                          -                 -

       3         Arina Imamawati                               -                      -                          -                 -


                                                                               Hubungan Keluarga, Keuangan,
                              Nama                                  Kepengurusan dengan Pemegang Saham Pengendali
           No.                                             Family, Financial, Management Relationship with Ultimate Shareholders
                              Name
                                                                                   Chander Vinod Laroya
       1         Hamid Awaluddin                                                              -

       2         Herry Bertus Wiseno Widjanarko                                               -

       3         Arina Imamawati                                                              -


      Laporan Komite Audit                                                Audit Committee Report

      Selama Tahun 2023, Komite Audit telah melaksanakan                  During 2023, the Audit Committee has carried out its duties
      tugas-tugasnya sesuai dengan Pedoman dan Tata Tertib                in accordance with the Audit Committee Guidelines, including
      Kerja Komite Audit antara lain sebagai berikut:                     the following:
      1. Menelaah laporan keuangan sebelum dipublikasikan                 1. Reviewed the financial statements prior to publication
         termasuk kebijakan akuntansi dan penilaian yang                      including significant accounting and valuation policies,
         signifikan, perkiraan yang mendasari laporan keuangan,               estimates underlying the financial statements, and
         serta pengungkapan, termasuk diantaranya Laporan                     disclosures, including the Annual Financial Statements
         Keuangan Tahunan untuk Tahun buku yang berakhir                      for the financial year ended 31 December 2022, Financial
         pada tanggal 31 Desember 2022, Laporan Keuangan                      Statements as of 31 March 2023, Financial Statements
         per 31 Maret 2023, Laporan Keuangan per 30 Juni 2023,                as of 30 June 2023, Financial Statements as of 30


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            KILAS          LAPORAN       PROFIL            ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
            KINERJA        MANAJEMEN     PERUSAHAAN        PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
            Performance    Management    Company           Management                     Corporate      Sustainability    Financial
            Overview       Report        Profile           Discussion And Analysis        Governance     Report            Report




     Laporan Keuangan 30 September 2023 dan Laporan                      September 2023 and Annual Financial Statements for
     Keuangan Tahunan untuk Tahun buku yang berakhir                     the financial year ended 31 December 2023.
     pada tanggal 31 Desember 2023.
2.   Menganalisis pendekatan Perseroan secara keseluruhan            2. Analyzed the Company's overall approach to risk
     mengenai manajemen risiko, pengawasan internal, serta              management, internal control, and its processes, results,
     proses, hasil dan pengungkapannya.                                 and disclosures.
3.   Memberikan masukan dan arahan pada Unit Audit                   3. Provided input and direction to the Internal Audit Unit
     Internal untuk mempersiapkan rencana dan program                   to prepare the Company's audit plan and work program
     kerja audit Perseroan untuk Tahun berjalan.                        for the current year.
4.   Berkoordinasi dengan auditor eksternal dan kantor               4. Coordinated with external auditors and independent
     akuntan publik independen, dalam lingkup dan hasil                 public accounting firms, within the scope and results of
     audit Tahunan, termasuk mengenai prosedur and rencana              the annual audit, including regarding audit procedures
     audit serta standar yang ditetapkan, tata kelola dan               and plans as well as established standards, governance,
     kontrol. Me-review dan membahas hasil audit yang                   and control. Review and discuss the results of audits
     dilakukan oleh auditor eksternal.                                  conducted by external auditors.
5.   Memberikan rekomendasi pada Dewan Komisaris terkait             5. Provided recommendations to the Board of Commissioners
     penunjukan auditor eksternal Perseroan untuk Tahun                 regarding the appointment of the Company's external
     buku 2023.                                                         auditor for fiscal year 2023.
6.   Menyusun laporan pelaksanaan tugas Komite Audit                 6. Prepared a report on the implementation of the duties
     kepada Dewan Komisaris yang diungkapkan didalam                    of the Audit Committee to the Board of Commissioners
     Laporan Tahunan ESSA Tahun Buku 2023.                              which is disclosed in the ESSA Annual Report for Fiscal
                                                                        Year 2023.

Pernyataan Independensi Komite Audit                                 Independence Statement of Audit
                                                                     Committee

Untuk menjaga independensi, setiap anggota Komite Audit              To maintain independence, each member of the Audit
telah menyatakan independensi mereka melalui Pernyataan              Committee has declared their independence through an
Independensi. Pernyataan independensi Komite Audit ESSA              Independence Statement. The statement of independence
dibuat menurut Peraturan OJK No.55/POJK.04/2015 tentang              of the ESSA Audit Committee is made according to OJK
Pembentukan dan Pedoman Pelaksanaan Komite Audit.                    Regulation No.55/POJK.04/2015 concerning the Establishment
                                                                     and Implementation Guidelines of the Audit Committee.

Rapat Komite Audit                                                   Audit Committee Meeting

                                                                                           Rapat Komite Audit
                                                                                        Audit Committee Meeting
                Nama                            Jabatan                           Jumlah & Persentase (%) Kehadiran
                Name                            Position                            Total & Percentage of Attendance
                                                                          Jumlah Rapat            Jumlah Kehadiran
                                                                                                                                 %
                                                                          Total Meetings           Total Attendance
 Hamid Awaluddin                      Ketua                                      4                            3                 75
                                      Chairman
 Herry Bertus Wiseno Widjanarko       Anggota                                    4                            1                 25
                                      Member
 Arina Imamawati                      Anggota                                    4                            3                 75
                                      Member
 Catatan | Note :
 - Bapak Hamid Awaluddin dan Ibu Arina Imamawati baru menjabat sejak 2 Mei 2023
 - Bapak Herry Bertus baru menjabat sejak 2 November 2023
 - Mr Hamid Awaluddin and Mrs Arina Imamawati have only been in office since 2 May 2023
 - Mr Herry Bertus has only been in office since 2 November 2023




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      Pada rapat-rapat tersebut dilakukan evaluasi terutama pada   At these meetings, evaluations were carried out, especially
      sistem penyusunan laporan keuangan, memberikan               on the financial statements preparation system, providing
      rekomendasi atas auditor, memonitor informasi keuangan       recommendations to auditors, monitoring financial information
      yang akan dikeluarkan, termasuk pemantauan penyerahan        to be issued, including monitoring the submission of financial
      laporan keuangan secara berkala, memonitor pengendalian      statements on a regular basis, monitoring internal control
      internal dan pelaksanaan Audit Internal, memonitor           and the implementation of Internal Audit, monitoring the
      perkembangan kegiatan operasional Perseroan dan              progress of the Company's operational activities and
      memastikan kepatuhan Perseroan terhadap peraturan dan        ensuring the Company’s compliance with the applicable
      perundang-undangan yang berlaku.                             laws and regulations.

      Komite Audit juga telah melakukan pertemuan dengan KAP       The Audit Committee has also held a meeting with KAP
      Gani Sigiro & Handayani– a member firm of Grant Thornton     Gani Sigiro & Handayani – a member firm of Grant Thornton
      International Limited guna membahas Laporan Keuangan         International Limited to discuss the Annual Financial
      Tahunan Periode 31 Desember 2023 yaitu pada tanggal 21       Statements for the Period of 31 December 2023, namely
      November 2023 dan Januari 2024                               on 21 November 2023 and January 2024.

      Komite Audit juga melakukan penelaahan atas independensi     The Audit Committee also reviewed the independence and
      dan objektivitas KAP Gani Sigiro & Handayani sebagai         objectivity of KAP Gani Sigiro & Handayani as a public
      akuntan publik PT ESSA Industries Indonesia Tbk. untuk       accountant for PT ESSA Industries Indonesia Tbk. for the
      Tahun buku yang berakhir pada 31 Desember 2022 serta         fiscal year ending on 31 December 2022 and the audit
      hasil laporan audit tersebut dilaporkan kepada OJK pada      report were submitted to OJK on 24 May 2023 with letter
      tanggal 24 Mei 2023 dengan nomor surat 0152/LT/SEP-          number 0152/LT/SEP-OJK/2023.
      OJK/2023.

      KOMITE NOMINASI DAN REMUNERASI                               NOMINATION AND REMUNERATION
                                                                   COMMITTEE
      Dewan Komisaris memutuskan bahwa fungsi nominasi dan         The Board of Commissioners decided that the nomination
      remunerasi bagi Dewan Komisaris dan Direksi akan dilakukan   and remuneration functions for the Board of Commissioners
      langsung oleh Dewan Komisaris, tanpa membentuk komite        and the Board of Directors will be carried out directly by
      nominasi dan remunerasi. Dalam hal pelaksanaannya, Dewan     the Board of Commissioners, without forming a nomination
      Komisaris bertindak secara independen dengan mengacu         and remuneration committee. In terms of implementation,
      pada Pedoman Fungsi Nominasi dan Remunerasi, yang            the Board of Commissioners acts independently by referring
      menetapkan tugas dan tanggung jawab Dewan Komisaris          to the Guidelines for the Nomination and Remuneration
      yang relevan.                                                Function, which stipulates the relevant duties and
                                                                   responsibilities of the Board of Commissioners.

      Terkait nominasi:                                            Regarding nomination:
      1. Menetapkan kebijakan mengenai: komposisi Dewan            1. Establish policies regarding: the composition of the
         Komisaris dan Direksi, kriteria yang dibutuhkan dalam        Board of Commissioners and the Board of Directors,
         proses nominasi, dan evaluasi kinerja para anggota           the criteria required in the nomination process, and
         Dewan Komisaris dan Direksi;                                 evaluation of the performance of the members of the
                                                                      Board of Commissioners and the Board of Directors;
      2. Menilai kinerja anggota Dewan Komisaris dan Direksi       2. Assessing the performance of members of the Board of
         berdasarkan kebijakan;                                       Commissioners and Board of Directors based on policies;
      3. Menetapkan kebijakan mengenai program pengembangan        3. Establish policies regarding the development program for
         Dewan Komisaris dan Direksi; dan                             the Board of Commissioners and the Board of Directors; and
      4. Menentukan calon anggota Dewan Komisaris dan Direksi      4. Determine candidates for members of the Board of
         untuk disampaikan kepada RUPS.                               Commissioners and Board of Directors to be submitted
                                                                      to the GMS.
      5. Mengidentifikasi dan mencalonkan calon Direksi sejalan    5. Identify and nominate candidates for the Board of
         dengan arah strategis Perseroan.                             Directors in line with the Company's strategic direction.


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           KILAS         LAPORAN      PROFIL       ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
           KINERJA       MANAJEMEN    PERUSAHAAN   PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
           Performance   Management   Company      Management                     Corporate      Sustainability    Financial
           Overview      Report       Profile      Discussion And Analysis        Governance     Report            Report




Terkait remunerasi:                                          Regarding remuneration:
1. Menetapkan kebijakan mengenai struktur proses             1. Establish policies regarding the structure of the remuneration
   remunerasi dan besaran remunerasi; dan                       process and the amount of remuneration; and
2. Menilai kinerja Dewan Komisaris dan Direksi dengan        2. Assess the performance of the Board of Commissioners and
   mengacu pada remunerasi yang diterima.                       Board of Directors by referring to the remuneration received.

Penyusunan struktur, kebijakan dan besaran remumerasi        The preparation of the structure, policy and amount of
bagi Dewan Komisaris dan Direksi harus memperhatikan         remuneration for the Board of Commissioners and the Board
hal-hal berikut:                                             of Directors shall take into account the following matters:
1. Remunerasi yang berlaku di perusahaan-perusahaan          1. Remuneration applicable to companies in the same
    dalam industri sejenis dan skala usaha yang sama;            industry and the same business scale;
2. Tugas, tanggung jawab dan wewenang anggota Dewan          2. Duties, responsibilities and authorities of the members
    Komisaris dan Direksi terkait pencapaian tujuan dan          of the Board of Commissioners and the Board of Directors
    kinerja perusahaan;                                          regarding the achievement of company goals and
                                                                 performance;
3. Target kinerja masing-masing anggota Dewan Komisaris      3. Performance targets for each member of the Board of
   dan Direksi; dan                                              Commissioners and Board of Directors; and
4. Keseimbangan antara tunjangan tetap dan variabel.         4. Balance between fixed and variable benefits.




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      Sustaining Operational Excellence



      Sekretaris Perusahaan
      Corporate Secretary

      Sekretaris Perusahaan (Corporate Secretary) memiliki             The Corporate Secretary has an important role in bridging
      peranan penting dalam menjembatani komunikasi baik               communications to both internal and external parties of the
      kepada pihak internal maupun eksternal Perseroan seperti         Company such as communication with employees, regulators,
      komunikasi dengan karyawan, regulator, para Pemegang             shareholders, investors, and other stakeholders. He also
      Saham, investor, dan pemangku kepentingan lainnya. Ia            has a role in ensuring that the Company complies with
      juga berperan dalam memastikan bahwa Perseroan telah             Capital Market regulations. The Corporate Secretary was
      patuh pada peraturan-undangan di bidang Pasar Modal.             appointed based on the Financial Services Authority
      Sekretaris Perusahaan ditunjuk berdasarkan pada Peraturan        Regulation No.35/POJK.04/2014 dated 8 December 2014
      Otoritas Jasa Keuangan Nomor 35/POJK.04/2014 tanggal             concerning Corporate Secretary.
      8 Desember 2014 tentang Sekretaris Perusahaan.

      PROFIL SEKRETARIS PERUSAHAAN                                     PROFILE OF CORPORATE SECRETARY




                                               Shinta Dumasari Utami Siringoringo
                                               Sekretaris Perusahaan
                                               Corporate Secretary




      Warga negara Indonesia, berusia 41 Tahun, berdomisili di         Indonesian citizen, 41 years old, domiciled in Jakarta. She
      Jakarta. Beliau meraih gelar Sarjana Hukum dari Universitas      earned his Bachelor of Laws degree from Padjadjaran
      Padjajaran (UNPAD) pada Tahun 2005. Ditunjuk sebagai             University (UNPAD) in 2005. Appointed as Corporate
      Sekretaris Perusahaan pada tanggal 18 Maret 2022. Saat           Secretary on 18 March 2022. Currently serves as Legal
      ini menjabat sebagai Legal Manager & Corporate Secretary         Manager & Corporate Secretary of the Company with work
      Perseroan dengan pengalaman kerja:                               experience:

      •    2022 – saat ini : Legal Manager & Sekretaris Perusahaan     •   2022 – present : Legal Manager & Corporate Secretary
           PT ESSA Industries Indonesia Tbk.                               of PT ESSA Industries Indonesia Tbk.
      •    2020 – 2022 : Legal Manager PT ESSA Industries              •   2020 – 2022 : Legal Manager of PT ESSA Industries
           Indonesia Tbk.                                                  Indonesia Tbk.
      •    2016 – 2020 : Legal & Contract Manager PT Panca             •   2016 – 2020 : Legal Manager of PT Panca Amara
           Amara Utama (anak Perusahaan)                                   Utama (subsidiary)
      •    2015 – 2016 : Contract Manager di IOT Infrastructure        •   2015 – 2016 : Contract Manager in IOT Infrastructure
           & Energy Services Ltd                                           & Energy Services Ltd
      •    2013 – 2014 : Contract Administration Manager untuk         •   2013 – 2014 : Contract Administration Manager for
           Bitung – Cimanggis Pipeline Project                             Bitung – Cimanggis Pipeline Project
      •    2011 – 2012 : Legal Counsel PMC Pertamina FSRU              •   2011 – 2012 : Legal Counsel for PMC Pertamina FSRU
           Jawa Tengah                                                     Central Java
      •    2008 – 2013 : Legal Counsel untuk Sumatera Selatan          •   2008 – 2013 : Legal Counsel for South Sumatera –
           – Jawa barat Pipeline Project                                   West Java Pipeline Project
      •    2007 – 2008 : Contract Specialist di Badan Rekonstruksi     •   2007 – 2008 : Contract Specialist in Badan
           & Rekonsiliasi (BRR) NAD -Nias                                  Reconstruction & Reconciliation (BRR) NAD -Nias
      •    2005 – 2007: Associate di Adhyaksa & Co. Lawyers            •   2005 – 2007 : Associate in Adhyaksa & Co. Lawyers


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            KILAS          LAPORAN        PROFIL        ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
            KINERJA        MANAJEMEN      PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
            Performance    Management     Company       Management                     Corporate      Sustainability    Financial
            Overview       Report         Profile       Discussion And Analysis        Governance     Report            Report




Beliau tidak memiliki hubungan afiliasi, baik dengan anggota      She has no affiliation, either with members of the Board of
Direksi, anggota Dewan Komisaris, serta Pemegang Saham            Directors, members of the Board of Commissioners, and
pengendali Perseroan.                                             the controlling shareholder of the Company.

TUGAS DAN TANGGUNG JAWAB                                          DUTIES AND RESPONSIBILITIES OF THE
SEKRETARIS PERUSAHAAN                                             CORPORATE SECRETARY
Sesuai dengan peraturan Otoritas Jasa Keuangan (OJK)              Following the applicable Financial Services Authority (OJK)
yang berlaku, tugas dan tanggung jawab Sekretaris                 regulations, the duties and responsibilities of the Corporate
Perusahaan adalah sebagai berikut:                                Secretary are as follows:

1. Mengikuti perkembangan pasar modal, khususnya                  1. Following the development of the capital market,
   peraturan yang berlaku di sektor pasar modal dan bursa            especially the regulations that apply in the capital market
   efek;                                                             and stock exchange sectors;
2. Untuk memberikan layanan kepada publik tentang                 2. To provide services to the public regarding the information
   informasi yang dibutuhkan oleh investor yang berkaitan            needed by investors relating to the condition of the
   dengan kondisi Perseroan;                                         Company;
3. Memberikan masukan kepada Direksi dan Dewan                    3. Provide input to the Board of Directors and Board of
   Komisaris untuk mematuhi peraturan perundang-                     Commissioners to comply with the laws and regulations
   undangan di sektor Pasar Modal;                                   in the Capital Market sector;
4. Untuk melayani sebagai penghubung antara Perseroan             4. To serve as a liaison between the Company and
   dan Pemegang Saham, OJK, BEI, dan pemangku                        shareholders, OJK, IDX, and other stakeholders;
   kepentingan lainnya;
5. Untuk mewakili Perseroan dalam korespondensi dengan            5. To represent the Company in correspondence with the
   otoritas pasar modal sesuai dengan otoritas yang diberikan        capital market authority following the authority granted
   oleh Perseroan; dan                                               by the Company; and
6. Untuk membantu Direksi dan Dewan Komisaris dalam               6. To assist the Board of Directors and Board of
   pelaksanaan tata kelola perusahaan termasuk:                      Commissioners in implementing corporate governance
                                                                     including:
   a. Pengungkapan informasi kepada publik, termasuk                 a. Disclosure of information to the public, including the
      ketersediaan informasi di situs web Emiten atau                    availability of information on the website of the Issuer
      Perusahaan Publik;                                                 or Public Company;
   b. Penyampaian laporan kepada Otoritas Jasa Keuangan              b. Submission of reports to the Financial Services
      tepat waktu;                                                       Authority on time;
   c. Penyelenggaraan dan dokumentasi Rapat Umum                     c. Implementation and documentation of the General
      Pemegang Saham;                                                    Meeting of Shareholders;
   d. Penyelenggaran dan dokumentasi rapat Direksi dan/              d. Arrangement and documentation of Board of Directors
      atau Dewan Komisaris; dan                                          and/or Board of Commissioners meetings; and
   e. Penerapan orientasi program kepada calon karyawan              e. Application of program orientation to prospective
      Perseroan untuk Direksi dan/atau Dewan Komisaris.                  Company employees for the Board of Directors and/
                                                                         or Board of Commissioners.

PELAKSANAAN KEGIATAN SEKRETARIS                                   IMPLEMENTATION OF THE CORPORATE
PERUSAHAAN DI TAHUN 2023                                          SECRETARY’S ACTIVITIES IN 2023

Pada Tahun 2023, tugas dan tanggung jawab yang telah              In 2023, the duties and responsibilities that have been
dilaksanakan oleh Sekretaris Perusahaan meliputi:                 carried out by the Corporate Secretary include:
1. Membantu dalam penyelenggaraan Rapat Umum                      1. Assisted in holding the Annual General Meeting of
    Pemegang Saham Tahunan & Luar Biasa, Public Expose,               Shareholders and Extra Ordinary, Public Expose, and
    dan memenuhi kewajiban terkait hal tersebut.                      fulfill obligations related to this;



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      2. Mengikuti perkembangan pasar modal dengan mengikuti         2. Keep up with the development of the capital market by
         seminar, pelatihan, Workshop yang diadakan oleh                attending seminars, training, workshops held by the
         Otoritas Jasa Keuangan, Bursa Efek Indonesia, ICSA             Financial Services Authority, the Indonesia Stock
         maupun pihak-pihak lainnya.                                    Exchange, ICSA and other parties.
      3. Menyampaikan keterbukaan informasi kepada publik            3. Delivered information disclosure to the public in
         sesuai dengan peraturan yang berlaku baik di website           accordance with applicable regulations both on the
         Emiten maupun website Bursa.                                   Issuer's website and on the Exchange website.
      4. Menyampaikan laporan berkala seperti Laporan Keuangan,      4. Submitted periodic reports such as Financial Statements,
         Laporan Pemegang Saham Bulanan, Laporan Hutang                 Monthly Shareholder Reports, Foreign Exchange Debt
         Valas serta laporan insidentil seperti Laporan Tahunan         Reports as well as incidental reports such as Annual
         kepada regulator terkait seperti Otoritas Jasa Keuangan,       Reports to relevant regulators such as the Financial
         Bursa Efek Indonesia, serta lembaga terkait lainnya            Services Authority, Indonesia Stock Exchange, and other
         secara tepat waktu.                                            relevant institutions in a timely manner.
      5. Membuat Keterbukaan Informasi terkait fakta material,       5. Prepared Information Disclosure related to material
         kepemilikan saham Direksi, Komisaris maupun Pemegang           facts, share ownership of Directors, Commissioners and
         Saham di atas 5%.                                              shareholders above 5%.
      6. Membantu menyelenggarakan serta menghadiri Rapat            6. Assisted in organizing and attending Board of Directors
         Direksi, Rapat Dewan Komisaris, Rapat Gabungan serta           Meetings, Board of Commissioners Meetings, Joint
         menyusun dan mengadministrasikan risalah rapat.                Meetings as well as compiling and administering minutes
                                                                        of meetings.
      7. Memastikan Perseroan mentaati POJK, peraturan regulator     7. Ensured that the Company complies with POJK, regulatory
         terkait Pasar Modal baik sebagai Perusahaan Publik.            regulations related to the Capital Market, both as a
                                                                        Public Company.

      Pendidikan dan Pelatihan Sekretaris                            Training of Corporate Secretary in 2023
      Perusahaan Tahun 2023

      1. IDX-IGCN SDG 16 Business Framework | Inspiring              1. IDX-IGCN SDG 16 Business Framework | Inspiring
         Transformational Governance : Coaching Clinic 1 - Way          Transformational Governance : Coaching Clinic 1 - Way
         forward for ESG: Streamlining and Impact Reporting, 21         forward for ESG: Streamlining and Impact Reporting, 21
         Maret 2023, PT Bursa Efek Indonesia (IDX), Indonesia           March 2023, PT Bursa Efek Indonesia (IDX), Indonesia
         Global Compact Network (IGCN), Kementerian PPN/                Global Compact Network (IGCN), PPN/ Bappenas Ministry
         Bappenas dan Global Reporting Initiative (GRI) Indonesia,      and Global Reporting Initiative (GRI) Indonesia, https://
         https://bit.ly/3oqHyWy                                         bit.ly/3oqHyWy
      2. IDX-IGCN SDG 16 Business Framework | Inspiring              2. IDX-IGCN SDG 16 Business Framework | Inspiring
         Transformationa : Coaching Clinic 2 - Creating a Safe,         Transformationa : Coaching Clinic 2 - Creating a Safe,
         Fair, and Decent Work Environment: Sustainability              Fair, and Decent Work Environment: Sustainability
         Reporting and Impact Assessment for Human Rights,              Reporting and Impact Assessment for Human Rights,
         28 Maret 2023, IDX bersama IGCN, Kementerian PPN/              28 Maret 2023, IDX with IGCN, PPN/ Bappenas Ministry
         Bappenas dan GRI Indonesia, https://bit.ly/3xUVyJU             and GRI Indonesia, https://bit.ly/3xUVyJU
      3. IDX-IGCN SDG 16 Business Framework | Inspiring              3. IDX-IGCN SDG 16 Business Framework | Inspiring
         Transformational Governance: Coaching Clinic 3 -               Transformational Governance: Coaching Clinic 3 -
         Integrating SDG 16 Business Framework into Business            Integrating SDG 16 Business Framework into Business
         Strategy, 4 April 2023, IDX bersama IGCN, Kementerian          Strategy, 4 April 2023, IDX with IGCN, PPN/ Bappenas
         PPN/ Bappenas dan GRI Indonesia, https://bit.ly/3OBCGsh        Ministry and GRI Indonesia, https://bit.ly/3OBCGsh
      4. Pendalaman Peraturan Bursa Efek Indonesia Nomor I-E:        4. Indonesia Stock Exchange Regulation Deepening
         tentang Kewajiban Penyampaian Informasi, 5 April 2023,         Number I-E: on Information Submission Obligations, 5
         IDX, https://bit.ly/3WrRoEl                                    April 2023, IDX, https://bit.ly/3WrRoEl
      5. Sosialisasi Penyelenggaraan Annual Report Award 2022,       5. Socialization of the Annual Report Award 2022, 12 April
         12 April 2023, KNKG, IAI, OJK, IDX, DJP, https://bit.          2023, KNKG, IAI, OJK, IDX, DJP, https://bit.ly/43oplrG
         ly/43oplrG



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            KILAS          LAPORAN        PROFIL        ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
            KINERJA        MANAJEMEN      PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
            Performance    Management     Company       Management                     Corporate      Sustainability    Financial
            Overview       Report         Profile       Discussion And Analysis        Governance     Report            Report




6. Sosialiasai EASY Batch 8, 19 Mei 2023, PT Kustodian            6. EASY Socialization Batch 8, 19 May 2023, PT Kustodian
    Sentral Efek Indonesia (KSEI), https://bit.ly/                    Sentral Efek Indonesia (KSEI), https://bit.ly/
    SosiallsasiEASYBatch8                                             SosiallsasiEASYBatch8
7. IDX UNDP Session 1 : Understanding the Landscape               7. IDX UNDP Session 1 : Understanding the Landscape
    and Significance of GSS Bonds (Green, Social and                  and Significance of GSS Bonds (Green, Social and
    Sustainability Bonds ), 24 Mei 2023, IDX, United Nations          Sustainability Bonds ), 24 May 2023, IDX, United Nations
    Development Programme (UNDP) melalui Accelerating                 Development Programme (UNDP) through Accelerating
    SDGs Investment in Indonesia (ASSIST) Joint Programme,            SDGs Investment in Indonesia (ASSIST) Joint Programme,
    https://bit.ly/3OBDb5D                                            https://bit.ly/3OBDb5D
8. IDX UNDP Session 2 : Understanding the Key Elements            8. IDX UNDP Session 2 : Understanding the Key Elements
    of GSS Bonds, 25 Mei 2023, IDX, UNDP melalui ASSIST               of GSS Bonds, 25 May 2023, IDX, UNDP through ASSIST
    Joint Programme, https://tinyurl.com/2bmywvzy                     Joint Programme, https://tinyurl.com/2bmywvzy
9. Effective Risk Management for Corporate Secretary, 30          9. Effective Risk Management for Corporate Secretary, 30
    Mei 2023, Indonesia Corporate Secretary Association               May 2023, Indonesia Corporate Secretary Association
    (ICSA),                                                           (ICSA),
10. Pendalaman POJK Nomor 14/POJK.04/2019 tentang                 10. Deepening POJK Number 14/POJK.04/2019 concerning
    Penambahan Modal Perusahaan Terbuka dengan                        Capital Increase of Public Companies by Providing
    Memberikan Hak Memesan Efek Terlebih Dahulu, 8 Juni               Preemptive Rights, 8 June 2023, OJK, ICSA, https://
    2023, OJK, ICSA, https://tinyurl.com/yckac255                     tinyurl.com/yckac255
11. Rangkaian Kegiatan Capacity Building dalam Rangka             11. Series of Capacity Building Activities in the Context of
    Acara Ring the Bell for Gender Equality 2023, "Governance         the Ring the Bell for Gender Equality Event 2023,
    Practices in Overseeing Gender Based Violence and                 "Governance Practices in Overseeing Gender Based
    Harassment Risks", 8 Juni 2023, IDX, UN Women                     Violence and Harassment Risks", 8 June 2023, IDX, UN
    Indonesia, IFC World Bank, Indonesia Global Compact               Women Indonesia, IFC World Bank, Indonesia Global
    Network (IGCN), dan Indonesia Business Coalition for              Compact Network (IGCN), and Indonesia Business
    Women Empowerment (IBCWE), https://tinyurl.                       Coalition for Women Empowerment (IBCWE), https://
    com/2ukxsubp                                                      tinyurl.com/2ukxsubp
12. Mengenal Lebih Jauh Pengaturan UU P2SK Dalam                  12. Getting to Know More about the P2SK Law Regulation
    Rangka Penguatan Sektor Pasar Modal, 20 Juli 2023,                in the Context of Strengthening the Capital Market
    OJK, APEI, Kementerian Keuangan, https://tinyurl.                 Sector, 20 July 2023, OJK, APEI, Ministry of Finance,
    com/547cn83v                                                      https://tinyurl.com/547cn83v
13. Pendalaman dan Implementasi Terkait Surat Edaran              13. Deepening and Implementation Related to the Financial
    Otoritas Jasa Keuangan Nomor 16/SEOJK.04/2021 dan                 Services Authority Circular Letter Number 16/
    POJK NOMOR 34/POJK.04/2014, 31 Juli 2023, OJK,                    SEOJK.04/2021 and POJK NUMBER 34/POJK.04/2014,
    Asosiasi Emiten Indonesia (AEI), https://emiten.link/             31 July 2023, OJK, Association of Indonesian Issuers
    workshopPOJK15NOV                                                 (AEI), https://emiten.link/workshopPOJK15NOV
14. Workshop AEI: "Pendalaman Atas Penelaahan POJK                14. AEI Workshop: "Deepening of the Review of POJK No.
    No. 43/POJK.04/2020, POJK No. 14/2019, POJK No.                   43/POJK.04/2020, POJK No. 14/2019, POJK No. 49/2020
    49/2020 & POJK No. 31/2017, 31 Juli 2023, OJK, AEI,               &; POJK No. 31/2017, 31 July 2023, OJK, AEI, https://
    https://emiten.link/linkZOOMPOJK31JULI23                          emiten.link/linkZOOMPOJK31JULI23
15. Webinar Sosialisasi POJK Nomor 9 Tahun 2023 tentang           15. POJK Socialization Webinar Number 9 of 2023 concerning
    Penggunaan Jasa Akuntan Publik dan Kantor Akuntan                 the Use of Public Accountant Services and Public
    Publik dalam Kegiatan Jasa Keuangan, 1 Agustus 2023,              Accounting Firms in Financial Services Activities, 1 August
    OJK, https://tinyurl.com/55bct3n7                                 2023, OJK, https://tinyurl.com/55bct3n7
16. Sosialisasi Perubahan Peraturan Nomor I-V tentang             16. Socialization of Changes to Regulation Number I-V
    Ketentuan Khusus Pencatatan Saham dan Efek Bersifat               concerning Special Provisions for the Listing of Shares
    Ekuitas Selain Saham yang Diterbitkan oleh Perusahaan             and Equity Securities Other Than Shares Issued by
    Tercatat di Papan Akselerasi, 3 Agustus 2023, IDX,                Listed Companies on the Acceleration Board, 3 August
    https://tinyurl.com/yred7d3r                                      2023, IDX, https://tinyurl.com/yred7d3r




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      17. Undangan Sosialisasi Peraturan Otoritas Jasa Keuangan    17. Invitation to socialize Financial Services Authority
          (POJK) Nomor 13/POJK.04/2023 Tentang Kebijakan               Regulation (POJK) Number 13/POJK.04/2023 concerning
          Dalam Menjaga Kinerja Dan Stabilitas Pasar Modal Pada        Policy in Maintaining Capital Market Performance and
          Kondisi Pasar Yang Berfluktuasi Signifikan, 23 Oktober       Stability in Significantly Fluctuating Market Conditions,
          2023, OJK, https://daim.pm/SosPOJKdanSEOJK                   23 October 2023, OJK, https://daim.pm/
                                                                       SosPOJKdanSEOJK
      18. ASEAN Corporate Governance Scorecard Revised             18. ASEAN Corporate Governance Scorecard Revised
          October 2023, 9 November 2023. ICSA, https://tinyurl.        October 2023, 9 November 2023. ICSA, https://tinyurl.
          com/58ec3k34                                                 com/58ec3k34
      19. Pendalaman Peraturan Otoritas Jasa Keuangan Nomor        19. Deepening of Financial Services Authority Regulation
          15/POJK.04/2020 tentang Rencana Penyelenggaraan              Number 15/POJK.04/2020 concerning the Plan of
          dan Rapat Umum Pemegang Saham Perusahaan Terbuka,            Implementation and General Meeting of Shareholders
          23 November 2023, OJK, https://tinyurl.com/msmky82s          of Public Companies, 23 November 2023, OJK, https://
                                                                       tinyurl.com/msmky82s
      20. Mengenal Lebih Jauh Pengaturan UU P2SK Dalam             20. Getting to Know More about the Regulation of the P2SK
          Rangka Penguatan Literasi, Inklusi, dan Pelindungan          Law in the Context of Strengthening Literacy, Inclusion,
          Konsumen, 23 November 2023, OJK, https://tinyurl.            and Consumer Protection, 23 November 2023, OJK,
          com/3wkfj3j2                                                 https://tinyurl.com/3wkfj3j2
      21. Webinar Sosialisasi POJK Nomor 9 Tahun 2023 tentang      21. POJK Socialization Webinar Number 9 of 2023 concerning
          Penggunaan Jasa Akuntan Publik dan Kantor Akuntan            the Use of Public Accountant Services and Public
          Publik dalam Kegiatan Jasa Keuangan, 27 November             Accounting Firms in Financial Services Activities, 27
          2023, OJK, https://zoom.us/j/96068068367                     November 2023, OJK, https://zoom.us/j/96068068367
      22. Workshop Tindak Pidana Korporasi Dalam Undang-           22. Workshop on Corporate Crime in Law Number 1 of 2023
          undang (UU) Nomor 1 Tahun 2023 tentang Kitab Undang-         concerning the Criminal Code, 28 November 2023,
          Undang Hukum Pidana, 28 November 2023, ICSA,                 ICSA, Artotel Suites Mangkuluhur Jakarta.
          Artotel Suites Mangkuluhur Jakarta.
      23. Webinar OJK Institute “Enhancing ESG Through Best        23. OJK Socialization Webinar “Enhancing ESG Through
          Practices in Accounting”, 7 Desember 2023, OJK dan           Best Practices in Accounting”, 7 December 2023, OJK
          CPA Australia, https://tinyurl.com/y28bj9te                  and CPA Australia, https://tinyurl.com/y28bj9te
      24. Webinar "Aligning ESG Initiatives with Valuation         24. Socialization Webinar "Aligning ESG Initiatives with
          Strategies", Asosiasi Analis Efek Indonesia (AAEI) &         Valuation Strategies", Indonesian Securities Analysts
          Asosiasi Emiten Indonesia (AEI), 8 Desember 2023,            Association & Indonesian Issuers Association, 8 December
          https://emiten.link/ZoomWebinar8Des2023                      2023, https://emiten.link/ZoomWebinar8Des2023
      25. Webinar Hukum dan Perdagangan Karbon: Perspektif         25. Carbon Law and Trading Webinar: Environmental and
          Regulasi Lingkungan dan Bisnis, AEI dan Hukum Online,        Business Regulatory Perspectives, AEI and Law Online,
          12 Desember 2023, http://tinyurl.com/2wm7pff8                12 December 2023, http://tinyurl.com/2wm7pff8
      26. Sosialisasi Kriteria dan Penilaian ASEAN Corporate       26. Socialization of ASEAN Corporate Governance Scorecard
          Governance Scorecard (ACGS) 2024, OJK bersama IDX            (ACGS) 2024 Criteria and Assessment, OJK with IDX
          dan AEI, 20 Desember 2023, http://tinyurl.com/2v6ukxnb       and AEI, 20 December 2023, http://tinyurl.com/2v6ukxnb




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            KILAS           LAPORAN       PROFIL        ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
            KINERJA         MANAJEMEN     PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
            Performance     Management    Company       Management                     Corporate      Sustainability    Financial
            Overview        Report        Profile       Discussion And Analysis        Governance     Report            Report




Unit Audit Internal
Internal Audit Unit

INTERNAL AUDIT DEPARTEMEN                                         INTERNAL AUDIT DEPARTMENT

Departemen Internal Audit merupakan bagian dari                   The Internal Audit Department is an independent function
pengendalian internal perseroan yang berada langsung di           directly reporting to the President Director and Audit
bawah Direktur Utama. Fungsi audit internal telah                 Committee. The Internal Audit Function has carried out its
melaksanakan tugas dan tanggung jawab sesuai Piagam               duties in accordance with the Internal Audit Charter to
Internal Audit dengan memberikan asurans dan jasa konsultasi      provide an objective and independent assurance and
yang independen dan objektif bagi EII dan anak usahanya           consultancy services for EII and its subsidiaries in the areas
atas tata kelola, manajemen risiko, dan pengendalian internal,    of governance, risk management and internal control, so
sehingga dapat memberikan nilai tambah bagi pemangku              that it can add value to stakeholders and improve the
kepentingan dan meningkatkan operasional perseroan.               Company’s operations.

PIAGAM INTERNAL AUDIT                                             INTERNAL AUDIT CHARTER
Dalam menjalankan fungsi, tugas dan tanggung jawab,               In carrying out its functions, duties and responsibilities, the
Departemen Internal Audit perseroan berpedoman pada               Company’s Internal Audit Department is guided by the
Piagam Internal Audit yang disusun sesuai Peraturan OJK           Internal Audit Charter which was prepared in accordance
No.56/POJK.04/2015 tanggal 29 Desember 2015 tentang               with OJK Regulation No.56/POJK.04/2015 dated 29
Pembentukan dan Pedoman Penyusunan Piagam Audit                   December 2015 on the Establishment and Guidelines Internal
Internal dan berdasarkan Surat Keputusan Direksi No. 002/         Audit Charter and Board of Directors Decree No. 002/SK/
SK/BOD-SEP/XI/2014.                                               BOD-SEP/XI/2014.

Piagam Internal Audit mencakup:                                   Internal Audit Charter includes:
1. Struktur dan Kedudukan Internal Audit Perseroan;               1. Structure and Position of Company’s Internal Audit Dept;
2. Tugas dan Tanggung Jawab Audit Internal Perseroan;             2. Duties and Responsibilities of Company’s Internal Audit;
3. Wewenang Audit Internal Perseroan;                             3. Authority of Company’s Internal Audit;
4. Kode Etik Auditor Internal Perseroan;                          4. Code of Conduct for Company’s Internal Auditor;
5. Kualifikasi dan Persyaratan Sebagai Auditor Internal           5. Qualifications and Requirements as a Company Internal
   Perseroan;                                                         Auditor;
6. Larangan Rangkap Jabatan.                                      6. Prohibition of Concurrent Positions.

STRUKTUR DAN KEDUDUKAN                                            STRUCTURE AND POSITION OF
INTERNAL AUDIT DEPARTEMEN                                         INTERNAL AUDIT DEPT.
Departemen Internal Audit Perseroan dikelola oleh staf            The Internal Audit Department is staffed by suitably qualified
Internal Audit yang memiliki kualifikasi yang sesuai dan          and experience Internal Audit staff including the Internal
berpengalaman termasuk Kepala Internal Audit, yang berada         Audit Head, who reports directly to the President Director
dan melapor langsung kepada Presiden Direktur serta               and Audit Committee functionally and has open communication
melakukan komunikasi, koordinasi dengan Komite Audit              with the Audit Committee and can report any risks or control
yang dapat melaporkan setiap risiko dan/atau pengendalian         issues directly to the Audit Committee Chairman.
internal secara langsung kepada Ketua Komite Audit.

Untuk menjaga objektivitasnya, auditor internal dilarang          To maintain objectivity, internal auditors are not allowed
memiliki rangkap tugas dan jabatan dengan pelaksana               to have duties and positions concurrent with the implementer
kegiatan operasional perusahaan dan anak usahanya.                of the operational activities of the company and its
                                                                  subsidiaries.

INDEPENDENSI INTERNAL AUDIT                                       INDEPENDENCY OF INTERNAL AUDIT
Sebagimana kedudukan Internal Audit dalam struktur                As the position of Internal Audit is in the organizational
organisasi yang tidak terdapat intervensi dari pihak lain         structure where there is no intervention from other parties
dalam menjalankan peran, fungsi dan tanggung jawabnya             in carrying out its roles, functions, and responsibilities to


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      untuk melakukan aktifitas asurans dan konsultasi, hal ini        carry out assurance and consultation activities, this reflects
      merefleksikan Audit Internal Perseroan berjalan secara           that the Company’s Internal Audit runs independently.
      independen.

      Dan juga seperti diatur dalam Piagam Audit Internal, Auditor     Also, as regulated in the Internal Audit Charter, an Auditor
      dilarang merangkap tugas dan jabatan, sebagai auditor dan        is prohibited from holding concurrent duties and positions,
      pelaksana dari segala bentuk pelaksanaan kegiatan                as auditors and executors of all forms of operational activities
      operasional Perseroan dan Anak Perseroan.                        of the Company and its Subsidiaries.

      PROFIL DAN SERTIFIKASI INTERNAL                                  PROFILE AND CERTIFICATION OF
      AUDIT                                                            INTERNAL AUDIT
      Fungsi Audit Internal dijalankan oleh R. Prastyo Legito Putera   The Internal Audit function is carried out by R. Prastyo Legito
      yang berdomisili di Bekasi, dan berpendidikan Sarjana            Putera who is domiciled in Bekasi, and has a Bachelor of
      Manajemen Keuangan dan Perbankan dari Universitas                Financial and Banking Management from the University of
      Indonesia. Beliau tidak memiliki hubungan afiliasi dengan        Indonesia. He has no affiliation with members of the Board
      anggota Direksi, anggota Dewan Komisaris, maupun                 of Directors, members of the Board of Commissioners, or
      pemegang saham Perseroan.                                        shareholders of the Company.




                                              R. Prastyo Legito Putera
                                              Internal Audit
                                              Internal Audit




      Riwayat Pekerjaan:                                               Employment History:
      • 2016 – saat ini : Auditor Internal di PT ESSA Industries       • 2016 – present : Internal Auditor at PT ESSA Industries
         Indonesia Tbk.                                                  Indonesia Tbk.
      • 2013 – 2016 : Senior Staff Satuan Pengawasan Internal          • 2013 – 2016 : Senior Staff of Internal Audit Unit – Internal
         – Auditor Internal di PT Panin Bank Tbk.                        Auditor at PT Panin Bank Tbk.
      • 2009 – 2013 : Senior Staff Divisi Keuangan dan GA              • 2009 – 2013 : Senior Staff of Finance and GA Division
         Universitas Indonesia                                           of University of Indonesia

      Beliau tidak memiliki hubungan afiliasi dengan anggota           He has no affiliation with members of the Board of Directors,
      Direksi, anggota Dewan Komisaris, maupun Pemegang                members of the Board of Commissioners, or The Controlling
      Saham Pengendali Perseroan.                                      Shareholders of the Company.




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             KILAS              LAPORAN      PROFIL        ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
             KINERJA            MANAJEMEN    PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
             Performance        Management   Company       Management                     Corporate      Sustainability    Financial
             Overview           Report       Profile       Discussion And Analysis        Governance     Report            Report




Beliau memiliki sertifikasi :                                        He is a certified :


                                                                Keterangan
 No.
                                                                Description

 1      Certified Professional Information Technology Auditor (CPITA)

 2      Certified Professional Risk Management (CPRM)

 3      Certified Internal Auditor Professional (CIAP)

 4      Certified Fraud Investigator Professional (CFIP)



Aktivitas Internal Audit Tahun 2023                                  Internal Audit Activities in 2023

Pada Tahun 2023, Internal Audit Perseroan memiliki rencana           In 2023, the Company's Internal Audit annual audit plan
kerja audit tahunan yang telah disetujui oleh Dewan Direksi          was approved by the Board of Directors and Audit Committee
dan Komite Audit, yang terdiri dari 8 objek audit mencakup           consisting of 8 audits covering areas of operational, financial,
area audit operasional, keuangan, kepatuhan dan efektifitas          compliance and internal control effectiveness audits. Internal
pengendalian internal. Intenal Audit Perseroan telah                 Audit was able to complete 100% of the annual audit work
melengkapi pencapaian 100% rencana kerja audit                       plan.
tahunan.

Laporan hasil audit, rekomendasi dan tindak lanjut hasil             Audit report, recommendations and follow-up audit results
audit dilaporkan secara periodik kepada Direksi, Komisaris           are reported periodically to the Board of Directors,
dan Komite Audit baik secara langsung pada pertemuan                 Commissioners, and the Audit Committee either directly at
rutin rapat Komite Audit maupun secara tertulis dalam bentuk         regular meetings of the Audit Committee meetings or in
Laporan Hasil Audit.                                                 writing in the form of Audit Result Reports.

Untuk memitigasi risiko setiap laporan yang disertai                 To mitigate risk, all report including recommendations and
rekomendasi dan rencana tindak lanjut untuk tindakan                 action plan for corrective actions that have been agreed
perbaikan yang telah disepakati bersama dengan Unit/                 upon together with the relevant Unit/Department (auditee)
Departemen terkait (auditee) selalu dimonitor oleh Internal          is always monitored by the Internal Auditor so that corrective
Auditor agar tindakan perbaikan dapat ter-implementasikan            actions can be implemented properly.
dengan baik.

Pendidikan dan Pelatihan Internal Audit                              Development & Training of Internal Audit

Pengembangan kompetensi personel Internal Audit Perseroan            Competency development for personnel of Company's
dilakukan secara berkelanjutan untuk menjaga standar                 Internal Audit is carried out continuously to maintain the
kualitas hasil audit internal yang terbaik, membekali tenaga         best quality standards of internal audit results, equipping
auditor dengan keahlian, pengetahuan dan pengalaman                  auditors with adequate expertise, knowledge, and experience
yang memadai untuk menghasilkan proses audit sesuai                  to produce an audit process according to the Company's
kebutuhan Perseroan. Pengembangan kompetensi mencakup                needs. Competency development includes training and
program pelatihan dan sertifikasi.                                   certification programs.

SISTEM PENGENDALIAN INTERNAL (SPI)                                   INTERNAL CONTROL SYSTEM
Perseroan memiliki Sistem Pengendalian Internal (SPI) yang           Company has an Internal Control System which is designed
dirancang dengan mempertimbangkan tingkat efektivitas,               by considering the level of effectiveness, efficiency, and
efisiensi dan strategi bisnis Perseroan. Pihak-pihak yang            company business strategy. The parties involved and
terlibat dan bertanggung jawab atas penerapan sistem                 responsible for the implementation of internal control system


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      Sustaining Operational Excellence




      pengendalian internal antara lain Dewan Komisaris, Direksi,      among others include BoC, BoD, and the entire Company’s
      dan seluruh manajemen Perseroan untuk memastikan bahwa           management to ensure that every business process is
      setiap proses bisnis dijalankan dengan mematuhi dan              performed by complying with and applying the internal
      menerapkan pengendalian internal secara konsisten.               controls consistently.

      Elemen kunci dari Sistem pengendalian internal adalah            The key elements of the internal control System are as
      sebagai berikut:                                                 follows:
      a) Perusahaan memiliki struktur organisasi yang sejalan          a) The Company has an organisational structure that is
         dengan kebutuhan bisnis dan operasional, dengan                   aligned with its business and operational requirements,
         batasan peran, tanggung jawab, dan wewenang yang                  with clearly defined roles, responsibilities, and authority
         jelas. Batasan kewenangan untuk perolehan dan                     limits. Authority limits for acquisition and disposal of
         pelepasan aset, pembuatan kontrak, dan persetujuan                assets, awarding of contracts and approving operating
         pengeluaran operasional telah ditetapkan.                         expenditures are established.
      b) Perusahaan telah mempunyai proses bisnis yang mapan           b) The Company has in place well-established and
         dan terdokumentasi yang selaras dengan tujuan bisnis              documented business processes which are aligned with
         strategis dan sasaran.                                            the strategic business objectives and goals.
      c) Perseroan telah menetapkan delegasi wewenang dan              c) The Company has established delegation of authority
         pemisahan tugas untuk proses bisnis utama. Kebijakan              and segregation of duties have been established for
         dan prosedur Perusahaan ditinjau dan direvisi secara              key business processes. The Company’s policies and
         berkala untuk memenuhi perubahan kebutuhan bisnis                 procedures are reviewed and revised periodically to
         dan operasional serta persyaratan peraturan.                      meet changing business and operational needs and
                                                                           regulatory requirements.
      d) Laporan manajemen dan keuangan dibuat setiap bulan            d) Management and financial reports are generated
         untuk memfasilitasi tinjauan keuangan dan operasional             monthly to facilitate financial and operating reviews.
         Perseroan.
      e) Strategi bisnis dan anggaran operasional dan belanja          e) Business strategies and operating and capital expenditure
         modal disiapkan setiap tahun dan disetujui oleh Dewan.           budgets are prepared annually and are approved by
         Kinerja aktual dan perbedaan signifikan terhadap                 the Board. Actual performance and significant variances
         anggaran dipantau secara berkelanjutan.                          against budget are monitored on an ongoing basis.
      f) Indikator kinerja ditetapkan dan diselaraskan dengan          f) Key result areas and key performance indicators are
         tujuan dan sasaran bisnis strategis. Hal ini dipantau            established and aligned with the strategic business
         secara berkelanjutan.                                            objectives and goals. These are monitored on an ongoing
                                                                          basis.
      g) Rapat dewan diadakan setidaknya setiap triwulan dengan        g) Board meetings are held at least quarterly with a formal
         agenda formal mengenai hal-hal yang perlu didiskusikan.          agenda on matters for discussion.

      EVALUASI TERHADAP EFEKTIVITAS                                    EVALUATION ON THE EFFECTIVENESS
      SISTEM PENGENDALIAN INTERNAL                                     OF INTERNAL CONTROL SYSTEM
      Kecukupan tingkat efektivitas SPI Perseroan untuk memitigasi     The adequacy of the Company’s Internal Control System
      risiko secara periodik dinilai, dimonitor dan disampaikan        effectiveness level to mitigate risks is periodically assessed,
      dalam setiap laporan audit internal. Berdasarkan hasil laporan   monitored, and submitted in each internal audit report.
      yang disampaikan dan sesuai dengan konsep 3 lines of             Based on the results of the report submitted and in accordance
      defence dalam manajemen risiko, dapat disimpulkan bahwa          with the 3 lines of defence concept in risk management, it
      sistem pengendalian internal Perseroan telah berjalan cukup      can be concluded that the Company’s internal control
      baik dan tidak ditemukan inefisiensi signifikan, dengan          system has been running quite well and no significant
      adanya beberapa peluang untuk perbaikan.                         inefficiencies have been found, with few opportunities for
                                                                       improvement.

      Adapun tindakan perbaikan telah dilakukan Perseroan              Company has taken corrective actions including updating
      meliputi pembaharuan sistem, penyesuaian kebijakan dan           systems, adjusting policies and procedures in the Company’s
      prosedur dalam aktivitas bisnis Perseroan. Perseroan             business activities. The Company is always open to


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            KILAS          LAPORAN       PROFIL        ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
            KINERJA        MANAJEMEN     PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
            Performance    Management    Company       Management                     Corporate      Sustainability    Financial
            Overview       Report        Profile       Discussion And Analysis        Governance     Report            Report




senantiasa terbuka atas rekomendasi dan bersedia melakukan       recommendations and is willing to make improvements to
perbaikan agar dapat memastikan fungsi SPI Perseroan             ensure that the Company’s Internal controls function runs
berjalan dengan efektif dan sesuai dengan tujuan untuk           effectively and in accordance with its objectives, to ensure
menjamin Perseroan agar terhindar dari kegagalan pencapaian      that the Company avoids failure to achieve its objectives,
tujuan, menghasilkan laporan keuangan yang dapat dipercaya,      produces reliable financial reports, and ensures that the
serta meyakinkan kegiatan Perseroan berjalan sesuai dengan       Company’s activities are carried out in accordance with
aturan dan hukum yang berlaku.                                   the rules and laws. applicable.

PERNYATAAN DEWAN KOMISARIS                                       STATEMENT OF THE BOARD OF
DAN/ATAU DIREKSI ATAS KECUKUPAN                                  COMMISSIONERS AND/OR BOARD OF
SISTEM PENGENDALIAN INTERNAL                                     DIRECTORS ON THE ADEQUACY OF
                                                                 INTERNAL CONTROL SYSTEM

Melihat hasil evaluasi terhadap efektivitas SPI Perseroan,       Considering the evaluation on the Company’s Internal
Dewan Komisaris bersama Direksi menilai bahwa SPI yang           Control System effectiveness, the Board of Commissioners
diterapkan oleh Perseroan telah cukup efektif.                   together with the Board of Directors considers that the
                                                                 Internal Control System implemented by the Company is
                                                                 effective enough.

Laporan Hasil Audit                                              Audit Report

Laporan hasil audit, rekomendasi dan tindak lanjut hasil         Reports on audit results, recommendations and follow-up
audit dilaporkan secara periodik kepada Direksi, Komisaris       on audit results are reported periodically to the Board of
dan Komite Audit baik secara langsung pada pertemuan             Directors, Commissioners and the Audit Committee, either
rutin rapat Komite Audit maupun secara tertulis dalam bentuk     directly at regular Audit Committee meetings or in writing
Laporan Hasil Audit.                                             in the form of an Audit Result Report.




Audit Eksternal
External Audit

Perseroan telah menunjuk Kantor Akuntan Publik Gani              The Company has appointed Gani Sigiro & Handayani
Sigiro & Handayani (anggota Grant Thronton International)        Public Accountant Firm (member of Grant Thronton
sebagai auditor eksternal untuk melakukan audit terhadap         International) as an external auditor to audit the Company's
laporan keuangan Perseroan periode Tahun Buku 2023.              financial statements for fiscal year 2023. The Company
Atas kegiatan audit tersebut Perseroan mengeluarkan              incurred Rp662,500,000 which includes audits of the
biaya sebesar Rp662.500.000, yang meliputi audit terhadap        Company's financial statements, as well as subsidiaries,
laporan keuangan Perseroan, serta entitas anak yaitu PT          namely PT Panca Amara Utama and PT ESSA Chemicals
Panca Amara Utama dan PT ESSA Chemicals Indonesia.               Indonesia.




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      Sustaining Operational Excellence



      Manajemen Risiko
      Risk Management

      GAMBARAN UMUM                                                    GENERAL OVERVIEW
      Perseroan menyadari pentingnya pengawasan dan                    The Company realizes the importance of monitoring and
      pengelolaan risiko mulai dari aspek strategis sampai dengan      managing risk from strategic aspects to operational aspects.
      aspek operasional. Salah satu fungsi dari manajemen risiko       One of the functions of risk management is to protect the
      adalah melindungi perusahaan dari risiko yang berdampak          company from risks that have a negative impact on the
      negatif terhadap pencapaian tujuan. Identifikasi risiko dan      achievement of objectives. Risk identification and
      rekomendasi atas analisis risiko diperlukan berdasarkan          recommendations for risk analysis are required based on
      informasi terbaik yang ada untuk menunjang pengambilan           the best available information to support strategic decision
      keputusan oleh manajemen Perseroan yang bersifat strategis.      making by the Company's management.

      Perseroan melakukan pengelolaan risiko yang teridentifikasi      The Company manages identified risks as an effort to
      sebagai upaya untuk mengurangi potensi hambatan dalam            reduce potential obstacles in the Company's activities so
      aktivitas Perseroan sehingga dapat memberi keyakinan             as to provide confidence to encourage the Company's
      untuk mendorong pertumbuhan usaha Perseroan. Pengelolaan         business growth. Risk management is carried out in line
      risiko dilaksanakan sejalan dengan implementasi GCG, dan         with the implementation of GCG, and to support this the
      untuk mendukung hal tersebut Perseroan telah memetakan           Company has mapped and managed the following risks:
      dan mengelola risiko-risiko sebagai berikut:
      • Pasokan bahan baku gas bumi                                    •   Supply of natural gas raw materials
           Perseroan sangat bergantung pada pasokan bahan                  The Company relies heavily on the supply of raw materials
           baku dari Pertamina EP dan Joint Operating Body                 from Pertamina EP and the Joint Operating Body
           Pertamina-Medco E&P Tomori Sulawesi (JOB PMTS).                 Pertamina-Medco E&P Tomori Sulawesi (JOB PMTS).
           Terganggunya pasokan bahan baku dari penjual gas                The disruption in the supply of raw materials from the
           tersebut akan mempengaruhi kinerja, kondisi keuangan,           gas seller will affect the performance, financial condition,
           dan kelangsungan usaha Perseroan.                               and business continuity of the Company.
      • Harga Komoditas dan Fluktuasinya                               •   Commodity Prices and Fluctuations
           Harga komoditas sangat tidak stabil dan berfluktuasi.           Commodity prices are highly volatile and fluctuate.
           Terdapat risiko dimana harga komoditas akan berfluktuasi        There is a risk that commodity prices will fluctuate
           secara signifikan yang dapat berdampak negatif bagi             significantly which could have a negative impact on the
           Perseroan. Perseroan berkeyakinan bahwa cara terbaik            Company. The Company believes that the best way to
           untuk mengatasi fluktuasi harga komoditas adalah                deal with fluctuations in commodity prices is to optimize
           dengan mengoptimalkan pengoperasian kilang dan                  refinery operations and implement cost efficiency.
           melakukan efisiensi biaya.
      • Bencana kesehatan (pandemi)                                    •   Health disaster (pandemic)
           Bencana kesehatan seperti pandemi Covid-19 seperti              Health disasters such as the Covid-19 pandemic, such
           yang terjadi pada Tahun 2020 yang sampai saat ini               as the one that occurred in 2020, which are still happening
           masih terjadi, dapat mempengaruhi kegiatan operasional          today, may affect the Company's operational activities.
           Perseroan. Selain itu pandemi juga dapat mempengaruhi           In addition, the pandemic can also affect the supply
           rantai pasokan perdagangan dunia dan dapat                      chain of world trade and can affect the demand and
           mempengaruhi permintaan dan harga produk Perseroan.             prices of the Company's products.
      • Kebakaran                                                      •   Fire
           Proses produksi pada kilang LPG dan Pabrik Amoniak              The production process at the LPG refinery and Ammonia
           angat rentan kebakaran. Itulah sebabnya, di lingkungan          Plant is very vulnerable to fire. Therefore, within the LPG
           kilang LPG dan Pabrik Ammonia disyaratkan larangan              refinery and Ammonia Plant, smoking and carrying
           merokok dan membawa korek api. Meskipun Perseroan               matches are prohibited. Even though the Company has
           telah mengasuransikan pabrik dengan nilai pertanggungan         insured the factory with the appropriate insurance
           asuransi yang sesuai untuk industri sejenis, bila terjadi       coverage for similar industries, in the event of a fire, the
           kebakaran, Perseroan belum tentu dapat memulai                  Company may not necessarily be able to restart its
           kembali usahanya dalam waktu yang singkat bila terjadi          business in a short time in the event of a fire, which
           kebakaran, yang bisa mempengaruhi laju pendapatan               could affect the Company's revenue.
           Perseroan.




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            KILAS          LAPORAN       PROFIL       ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
            KINERJA        MANAJEMEN     PERUSAHAAN   PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
            Performance    Management    Company      Management                     Corporate      Sustainability    Financial
            Overview       Report        Profile      Discussion And Analysis        Governance     Report            Report




•   Sumber daya manusia                                         •   Human resources
    Operasi kilang LPG dan Pabrik Amoniak dengan peralatan          The operation of the LPG refinery and Ammonia Plant
    yang terintegrasi membutuhkan sumber daya manusia               with integrated equipment requires qualified and
    yang berkualitas dan berpengalaman. Tidak tersedianya           experienced human resources. The unavailability of
    sumber daya manusia yang berkualitas dapat                      qualified human resources can affect the operation of
    mempengaruhi pengoperasian kilang LPG dan Pabrik                the LPG refinery and Ammonia Plant which can affect
    Ammonia yang bisa mempengaruhi kinerja Perseroan                the Company's overall performance.
    secara keseluruhan.
•   Bencana alam                                                •   Natural disasters
    Bencana alam seperti gempa bumi atau lumpur akibat              Natural disasters such as earthquakes or mudslides
    ledakan sumur gas yang bisa terjadi dapat terjadi di            due to gas well explosions that can occur in various
    berbagai wilayah Indonesia, termasuk di kawasan operasi         parts of Indonesia, including in the Company's operational
    Perseroan, bisa menjadi risiko yang mempengaruhi                areas, can be a risk that affects the Company's activities
    kegiatan Perseroan yang tentunya akan mempengaruhi              which will certainly affect the production process, sales
    proses produksi, penjualan, dan laba bersih Perseroan.          and net profit of the Company.

Terhadap risiko yang teridentifikasi tersebut, Perseroan        Accordingly, the Company has prepared a risk management
telah menyiapkan model penanganan sistem manajemen              system handling model with the following steps:
risiko dengan langkah-langkah sebagai berikut:
• Mengantisipasi secara terpadu strategi dan perencanaan        •   Anticipating in an integrated manner the strategy and
     usaha Perseroan, dan secara khusus melakukan                   business planning of the Company, and specifically
     manajemen risiko keuangan dan risiko modal.                    managing financial risk and capital risk.
• Mengelola exposure mata uang asing dengan                     •   Managing foreign currency exposure by matching, to
     mencocokkan, sedapat mungkin, penerimaan dan                   the extent possible, receipts and payments for each
     pembayaran pada setiap mata uang individu.                     individual currency.
• Menempatkan saldo bank dan deposito berjangka pada            •   Putting bank balances and time deposits in trusted
     institusi keuangan yang terpercaya. Melakukan piutang          financial institutions. Perform trade receivables with
     usaha dengan pihak yang terpercaya dan berelasi.               trusted and related parties.
• Menjaga kecukupan simpanan, fasilitas bank, dan arus          •   Maintaining adequate deposits, bank facilities, and
     kas aktual.                                                    actual cash flow.
• Menyimpan dana yang cukup untuk membiayai kebutuhan           •   Saving sufficient funds to finance working capital needs
     modal kerja secara berkesinambungan.                           on an ongoing basis.
• Mengelola risiko atas kompetensi sumber daya manusia          •   Managing the risk of human resource competence with
     dengan upaya selalu melakukan pengembangan                     efforts to always develop competence through training
     kompentensi melalui program-program pelatihan dan              and certification programs according to changes in
     sertifikasi sesuai perubahan perkembangan baik internal        developments both internally and externally that occur.
     maupun eksternal yang terjadi.
• Mengelola risiko atas mata uang asing, Perseroan              •   Managing foreign currency risk, the Company is exposed
     terekspos terhadap pengaruh fluktuasi nilai tukar mata         to the effects of fluctuations in foreign currency exchange
     uang asing terutama karena transaksi yang didenominasi         rates primarily due to transactions denominated in
     dalam mata uang asing seperti penjualan, pembelian             foreign currencies such as sales, purchases of inventories,
     dari persediaan, dan pinjaman. Perseroan berupaya              and loans. The Company seeks to anticipate this risk
     mengantisipasi risiko tersebut dengan mengelola                by managing foreign currency exposure by matching
     eksposur mata uang asing dengan sedapat mungkin                receipts and payments in each currency wherever
     mencocokan penerimaan dan pembayaran pada setiap               possible.
     mata uang.




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      TINJAUAN ATAS EFEKTIVITAS SISTEM                               REVIEW OF THE EFFECTIVENESS OF
      MANAJEMEN RISIKO                                               THE RISK MANAGEMENT SYSTEM
      Pada Tahun 2023 telah dilakukan evaluasi terhadap Sistem       In 2023, an evaluation of the Company's Risk Management
      Manajemen Risiko Perusahaan. Evaluasi dilakukan terhadap       System was carried out. Evaluation is carried out on the
      Kriteria Risiko Perusahaan untuk memastikan bahwa Kriteria     Company's Risk Criteria to ensure that the Risk Criteria are
      Risiko tersebut masih relevan dengan kondisi Perusahaan        still relevant to the condition of the Company by considering
      dengan mempertimbangkan masukan dari stakeholder               input from related stakeholders. Evaluation of the Risk
      terkait. Evaluasi Kriteria Risiko ditindaklanjuti dengan       Criteria is followed up with the preparation of a risk map
      penyusunan pemetaan risiko (Risk Map) Perseroan untuk          of the Company to ensure alignment.
      memastikan keselarasannya.

      Selain itu, pada Tahun 2023 juga telah dilakukan penyusunan    In addition, in 2023, a risk-based budgeting has also been
      anggaran berbasis risiko (risk-based budgeting) yang           prepared, which is expected to be in accordance with the
      diharapkan dapat sesuai dengan kondisi dan proyeksi kinerja    conditions and projections of the Company's future
      Perseroan di masa mendatang.                                   performance.

      PERNYATAAN DEWAN KOMISARIS                                     STATEMENT OF THE BOARD OF
      DAN/ATAU DIREKSI ATAS KECUKUPAN                                COMMISSIONERS AND/OR BOARD OF
      SISTEM MANAJEMEN RISIKO                                        DIRECTORS ON THE ADEQUACY OF
                                                                     RISK MANAGEMENT SYSTEM

      Melihat hasil evaluasi terhadap efektivitas Sistem Manajemen   Considering the evaluation on the Company’s Risk
      Risiko Perseroan, Dewan Komisaris bersama Direksi menilai      Management System effectiveness, the Board of
      bahwa Sistem Manajemen Risiko yang diterapkan oleh             Commissioners together with the Board of Directors considers
      Perseroan telah cukup efektif.                                 that the Company’s Risk Management System implemented
                                                                     by the Company is effective enough.


      Perkara Hukum
      Legal Disputes [GRI 2-27]

      Pada Tahun Buku 2023 Perseroan maupun masing-masing            In fiscal year 2023, the Company, and each member of the
      anggota Direksi dan Dewan Komisaris, tidak memiliki perkara    Board of Directors and Board of Commissioners, have no
      hukum baik perdata maupun pidana yang tercatat dalam           civil or criminal cases that are registered in the registers of
      register Pengadilan Republik Indonesia dan yang memiliki       the Court of the Republic of Indonesia and which have a
      pengaruh signifikan terhadap keberlangsungan Perseroan.        significant effect on the sustainability of the Company.




      Sanksi Administratif
      Administrative Sanctions [GRI 2-27]

      Selama Tahun Buku 2023 Perseroan pernah dikenakan              During the 2023 Financial Year, the Company has been
      sanksi administratif terkait keterlambatan dalam pelaporan     subject to administrative sanctions related to delays in
      perubahan anggota Komite Audit kepada OJK dan Perseroan        reporting changes to the Audit Committee member to the
      telah memenuhi kewajiban dalam sanksi tersebut.                OJK and the Company has fulfilled the obligations in these
                                                                     sanctions.




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            KILAS            LAPORAN        PROFIL        ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
            KINERJA          MANAJEMEN      PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
            Performance      Management     Company       Management                     Corporate      Sustainability    Financial
            Overview         Report         Profile       Discussion And Analysis        Governance     Report            Report




Kode Etik
Code of Ethics

Etika merupakan dasar-dasar bagi Perseroan, seluruh                 Ethics are the basic foundation for the Company, all
manajemen dan karyawan dalam melaksanakan tugas dan                 management, and employees in carrying out their duties
tanggung jawabnya, termasuk menjaga integritas dan                  and responsibilities, including maintaining integrity and
profesionalisme dalam bekerja. Pedoman Perilaku merupakan           professionalism at work. The Code of Conduct is a guide
panduan perilaku bagi insan Perseroan (Dewan Komisaris,             to behavior for Company people (the Board of Commissioners,
Direksi, Manajemen, dan seluruh karyawan Perseroan) dalam           Board of Directors, Management, and all Company
melaksanakan kegiatan bisnis sesuai dengan nilai-nilai              employees) in carrying out business activities following the
Perusahaan dalam melaksanakan misi dan mewujudkan                   Company's values in carrying out the mission and realizing
visi Perseroan.                                                     the Company's vision.

Etika Bisnis mengatur bagaimana perusahaan melakukan                Business Ethics regulates how the company conducts
aktivitas bisnis secara etis dengan tujuan untuk meningkatkan       business activities ethically intending to increase value for
nilai bagi para Pemegang Saham yang sesuai dengan                   shareholders following applicable laws and regulations,
peraturan perundangan yang berlaku, dan dengan                      and by taking into account the interests of other stakeholders.
memperhatikan kepentingan para pemangku kepentingan                 The Company uses the Code of Ethics as a reference
lainnya. Perseroan menggunakan Kode Etik sebagai acuan              concerning internal and external parties and the delivery
dalam hubungan dengan pihak internal maupun eksternal               of information to the public. Whereas the values that form
serta penyampaian informasi kepada publik. Sedangkan                the basis of implementing corporate culture are trusted
tata nilai yang menjadi dasar dalam penerapan budaya                performance-based values, integrity, creative and innovative,
perusahaan adalah nilai berbasis kinerja terpercaya, integritas,    and bring a family spirit within the company environment.
kreatif dan inovatif, serta menghadirkan semangat
kekeluargaan dalam lingkungan perusahaan.

POKOK-POKOK KODE ETIK                                               CODE OF ETHICS PRINCIPLES
Pokok-pokok Kode Etik Perseroan meliputi: Etika Perusahaan          The main principles of the Company's Code of Ethics include
kepada Karyawan, Pelanggan, Pemasok (Supplier), Kreditur,           Company Ethics to Employees, Customers, Suppliers,
Pemerintah, Masyarakat, Pemegang Saham, Media, dan                  Creditors, Government, Society, Shareholders, Media, and
Kompetitor.                                                         Competitors.

SOSIALISASI KODE ETIK                                               SOCIALIZATION OF CODE OF ETHICS
Perseroan senantiasa melakukan sosialisasi Kode Etik                The Company continues to disseminate the Code of Ethics
melalui beberapa cara. Hal ini dilakukan untuk dapat terus          in various ways. This is done to be able to continue to
meningkatkan implementasi Kode Etik pada setiap kegiatan            improve the implementation of the Code of Ethics in every
usaha Perseroan dan Kode Etik Perseroan berlaku secara              business activity of the Company and the Company's Code
mengikat atas seluruh pihak dalam Perseroan termasuk                of Ethics is binding on all parties in the Company including
jajaran Direksi, Dewan Komisaris, maupun entitas anak               the Board of Directors, the Board of Commissioners, and
Perseroan.                                                          the Company's subsidiaries.




Kebijakan Benturan Kepentingan
Conflict of Interest Policy [GRI 2-15]

Perseroan telah mengatur kebijakan benturan kepentingan             The Company has stipulated conflict of interest policy in in
dalam dalam piagam Good Corporate Governance Perseroan              the Good Corporate Governance charter of the Company
dan Peraturan Perusahaan.                                           and Company Regulations.




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      Sistem Pelaporan Pelanggaran
      Whistleblowing System [GRI 2-16, 2-26]

      Perseroan memahami pentingnya pencegahan atas setiap            The Company is aware of the importance of preventing
      pelanggaran. Untuk itu Perseroan telah memiliki mekanisme       every violation. As such, the Company has a mechanism
      agar setiap pelanggaran yang muncul diketahui oleh              so that any violations that arise are known to the management,
      manajemen, selain untuk diinvestigasi dan penindakan juga       in addition to being investigated and taking action also to
      untuk mencegah setiap potensi pelanggaran yang muncul.          prevent any potential violations that arise. The Whistleblowing
      Sistem Pelaporan Pelanggaran tidak bertentangan dengan          System does not conflict with the prevailing laws and
      peraturan perundang-undangan yang berlaku serta anggaran        regulations as well as the Company's articles of association.
      dasar Perseroan.

      Perseroan belum memiliki mekanisme pelaporan pelanggaran        The Company does not yet have a violation reporting
      namun saat ini Peraturan Perusahaan sudah difinalisasi dan      mechanism but currently the Company Regulations have
      seluruh karyawan diminta untuk secara proaktif melaporkan       been finalized and all employees are required to proactively
      kepada atasan langsung mereka jika menemukan kecurangan         report to their immediate superiors if they find fraud or
      atau pelanggaran terhadap etika bisnis, peraturan perusahaan,   violations of business ethics, company regulations, laws or
      undang-undang atau informasi yang bersifat rahasia.             confidential information.




      Transaksi Orang Dalam,
      Anti Korupsi, Dan Anti Kecurangan
      Insider Transactions, Anti-Corruption, and Anti-Fraud [GRI 204-3]
      Kebijakan Anti Korupsi, Anti Kecurangan dan                     Anti-Corruption, Anti-Fraud and Insider
      Transaksi Orang Dalam                                           Transaction Policy

      Sejalan dengan Nilai ESSA “Integrity”, seluruh personil dalam   In line with the ESSA Value of "Integrity", all personnel in
      Grup ESSA diwajibkan untuk mencegah terjadinya tindakan         the ESSA Group are required to prevent acts of corruption,
      korupsi, kecurangan dan transaksi orang dalam, yakni            fraud and insider dealing, i.e. actions that violate applicable
      tindakan yang melanggar peraturan perundang-undangan            laws and regulations for personal gain or others to the
      serta ketentuan yang berlaku untuk keuntungan pribadi           detriment of the company.
      atau orang lain sehingga merugikan perusahaan.

      Kewajiban ini telah dimasukkan ke dalam Peraturan               This obligation has been incorporated into the Company
      Perusahaan, Piagam GCG, dan kebijakan Anti Korupsi dan          Regulations, GCG Charter, and Anti-Corruption and Anti-
      Anti Kecurangan.                                                Fraud policies.

      Secara umum kebijakan tersebut mengatur tindakan yang           In general, the policy regulates actions that are prohibited
      dilarang dilakukan dan berlaku bagi seluruh karyawan,           and apply to all employees, including: Accepting gifts in
      antara lain: Menerima hadiah dalam bentuk apapun baik           any form of money or goods.
      berupa uang, barang.

      Berkaitan dengan kebijakan transaksi orang dalam, dinyatakan    Regarding the insider transaction policy, it is clearly stated
      dengan jelas bahwa Dewan Komisaris, Direksi, organ              that the Board of Commissioners, Board of Directors,
      pendukung, dan seluruh karyawan di semua level diwajibkan       supporting organs, and all employees at all levels are
      untuk menghindari dan dilarang untuk membeli dan/atau           required to avoid and are prohibited from buying and/or
      menjual saham perusahaan ketika mendapatkan informasi,          selling company shares when obtaining information, either
      baik secara langsung atau tidak langsung, dari orang dalam      directly or indirectly, from company insiders, engaging in
      perusahaan, terlibat dalam aktivitas apa pun yang dilakukan     any activity carried out to manipulate the company's share
      untuk memanipulasi harga saham perusahaan, menggunakan          price, using confidential company information to obtain
      informasi rahasia perusahaan untuk mendapatkan keuntungan       personal gain and/or benefit for other parties.
      pribadi dan/atau keuntungan bagi pihak lainnya.


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           KILAS         LAPORAN       PROFIL       ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
           KINERJA       MANAJEMEN     PERUSAHAAN   PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
           Performance   Management    Company      Management                     Corporate      Sustainability    Financial
           Overview      Report        Profile      Discussion And Analysis        Governance     Report            Report




Setiap karyawan wajib menandatangani Peraturan Perusahaan     Every employee is required to sign the Company Regulation
dan Piagam GCG sebagai bentuk komitmen untuk menerapkan       and GCG Charter as a form of commitment to implement
upaya mencegah korupsi, kecurangan dan transaksi orang        efforts to prevent corruption, fraud and insider transactions.
dalam.


Kebijakan Pemberian
Dana Untuk Kegiatan Politik
Policy on Funding for Political Activities
Perseroan melarang keterlibatan dalam kegiatan politik,       The Company prohibits involvement in political activities,
termasuk memberikan donasi untuk kepentingan politik.         including making donations for political interests.




Kebijakan Pengadaan Barang dan Jasa
Policy of Procurement of Goods and Services

Perseroan memiliki Procurement Policy dan Commercial          The Company has a Procurement Policy and Commercial
Bid Tabulation sehingga seleksi dan peningkatan kemampuan     Bid Tabulation so that vendor selection and capacity building
vendor terlaksana dengan baik. Kebijakan ini mengharuskan     is carried out properly. This policy requires the Company
Perseroan untuk mengukur perkembangan pengadaan,              to measure procurement progress, identify risks, and develop
mengidentifikasi risiko, dan mengembangkan prosedur           standard operating procedures for risk mitigation. Each
operasi standar untuk mitigasi risiko. Setiap pihak yang      party involved must sign a conflict of interest statement to
terlibat harus menandatangani pernyataan pertentangan         prevent activities that could cause a conflict in any part of
kepentingan untuk mencegah aktivitas yang dapat               the process. Furthermore, the procurement team must
menyebabkan konflik di bagian mana pun dari proses. Lebih     improve vendor capabilities by providing evaluations on
lanjut, tim pengadaan harus meningkatkan kemampuan            vendor performance and providing input and improvement
vendor dengan memberikan evaluasi mengenai kinerja            solutions to vendors.
vendor dan memberikan masukan serta solusi perbaikan
kepada vendor.


Kebijakan Pemberian Kompensasi Jangka
Panjang Berbasis Kinerja Kepada Manajemen
dan/atau Karyawan
Policy of Providing Long-Term Performance-Based
Compensation to Management and/or Employees
Hingga akhir tahun 2023, Perseroan tidak pernah               Until the end of 2023, the Company never implemented
melaksanakan Program Kepemilikan Saham oleh Manajemen         the Management Stock Option Program (MSOP) or the
atau Management Stock Option Program (MSOP) dan               Employees Stock Option Program (ESOP).
Program Kepemilikan Saham oleh Karyawan atau Employees
Stock Option Program (ESOP).




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      Kebijakan Pengungkapan Informasi
      Kepemilikan Saham Anggota
      Dewan Komisaris Dan Direksi
      Information Disclosure Policy on Share Ownership
      by Members of The Board of Commissioners and Board of Directors
      Sepanjang tahun 2023 tidak terdapat transaksi saham yang       Throughout 2023, no share transactions were conducted
      dilakukan oleh anggota Dewan Komisaris dan/atau Direksi        by members of the Company's Board of Commissioners
      Perseroan.                                                     and/or Board of Directors.

      Perseroan telah memiliki kebijakan pengungkapan informasi      The Company has a policy of disclosing information regarding
      mengenai kepemilikan saham dan setiap perubahan                share ownership and any changes in ownership of the
      kepemilikannya atas saham Perseroan sebagaimana                Company's shares as stipulated in OJK Regulation Number
      ditentukan dalam Peraturan OJK Nomor 11/POJK.04/2017           11/POJK.04/2017 regarding Report on Ownership or Any
      tentang Laporan Kepemilikan atau Setiap Perubahan              Changes in Share Ownership of Public Companies.
      Kepemilikan Saham Perusahaan Terbuka.

      Kebijakan pengungkapan informasi mengenai:                     Information disclosure policy regarding:
      a) Kepemilikan saham anggota Direksi dan anggota Dewan         a) Share ownership of members of the Board of Directors
         Komisaris, dan                                                  and members of the Board of Commissioners, and
      b) Pelaksanaan kebijakan dimaksud adalah selambat-             b) The implementation of the policy is no later than 3 (three)
         lambatya 3 (tiga) hari kerja setelah terjadinya transaksi       business days after the occurrence of ownership
         kepemilikan atau setiap perubahan kepemilikan atas              transactions or any shares’ ownership changes must
         saham tersebut, wajib disampaikan (diberitahukan)               be submitted (notified) to the Company.
         kepada Perseroan.




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             KILAS           LAPORAN         PROFIL        ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
             KINERJA         MANAJEMEN       PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
             Performance     Management      Company       Management                     Corporate      Sustainability    Financial
             Overview        Report          Profile       Discussion And Analysis        Governance     Report            Report




Pelaksanaan Rekomendasi Peraturan OJK
Nomor 21/POJK.04/2015 Tentang Penerapan
Pedoman Tata Kelola Perusahaan Terbuka dan
Surat Edaran OJK Nomor 32/SEOJK.04/2015
Tentang Pedoman Tata Kelola Perusahaan
Terbuka
Implementation of Recommendations to OJK Regulation Number
21/POJK.04/2015 Concerning Implementation of Guidelines for
Good Corporate Governance and OJK Circular Letter Number 32/
SEOJK.04/2015 Concerning Guidelines for Good Corporate Governance

Prinsip 1: Meningkatkan Nilai Penyelenggaraan Rapat Umum Pemegang Saham (RUPS)
Principle 1: Increasing the Value of the General Meeting of Shareholders (GMS)
                            Rekomendasi                               Implementasi                         Keterangan
    No.
                           Recommendation                            Implementation                          Remark

1         Perusahaan Terbuka memiliki cara atau prosedur         ESSA telah                  Pada RUPST dan RUPSLB 2023, Emiten
          teknis pengumpulan suara (voting) baik secara          mengimplementasikan         mengadakan RUPS secara fisik dan
          terbuka maupun tertutup yang mengedepankan             rekomendasi ini             elektronik sehingga Pemegang Saham
          independensi, dan kepentingan Pemegang Saham.                                      yang tidak dapat hadir secara fisik dalam
                                                                                             rapat ataupun tidak menyampaikan surat
                                                                                             fisik pemberian kuasa dapat mengakses
                                                                                             eASY.KSEI dan dapat dihitung kehadiran,
                                                                                             jumlah suaranya serta mengikuti jalannya
                                                                                             Rapat secara online / video streaming
                                                                                             melalui aplikasi zoom yang terhubung
                                                                                             langsung dengan EASY.KSEI.
          A Public Company has a technical method or             ESSA has                    In the 2023 AGMS and EGMS, The
          procedure for voting both openly and privately that    implemented this            Company held both physical and
          prioritizes independence and the interests of          recommendation              electronic GMS that allows shareholders
          shareholders.                                                                      who cannot physically attend the meeting
                                                                                             or did not submit a physical letter of
                                                                                             authorization to access eASY.KSEI. The
                                                                                             attendance and number of votes were
                                                                                             counted, and shareholders also could
                                                                                             follow the online meeting / video
                                                                                             streaming through the zoom application,
                                                                                             directly connected to EASY.KSEI.
2         Seluruh anggota Direksi dan anggota Dewan              ESSA belum                  Pada RUPST dan RUPSLB 2023, tingkat
          Komisaris Perusahaan Terbuka hadir dalam Rapat         mengimplementasikan         kehadiran Direksi dan Komisaris lebih
          Umum Pemegang Saham Tahunan.                           rekomendasi ini             tinggi, dikarenakan telah berakhirnya
                                                                                             masa Pandemik sehingga hampir seluruh
                                                                                             Dewan Komisaris dan Direksi menghadiri
                                                                                             RUPS. Adapun yang tidak dapat hadir
                                                                                             secara fisik telah hadir secara online
                                                                                             melalui Microsoft Team yang disediakan
                                                                                             oleh Perseroan.
          All members of the Board of Directors and members      ESSA has not                At the 2023 AGMS and EGMS, the
          of the Board of Commissioners of a Public Company      implemented this            attendance rate of the Board of Directors
          attend the Annual General Meeting of Shareholders      recommendation              and Commissioners is higher, due to the
                                                                                             end of the Pandemic period resulting in
                                                                                             nearly all of the Board of Commissioners
                                                                                             and Directors attend the GMS. Those
                                                                                             who could not be physically present join
                                                                                             the meeting online through the Microsoft
                                                                                             Team provided by the Company.




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      Prinsip 1: Meningkatkan Nilai Penyelenggaraan Rapat Umum Pemegang Saham (RUPS)
      Principle 1: Increasing the Value of the General Meeting of Shareholders (GMS)
                                 Rekomendasi                            Implementasi                    Keterangan
       No.
                                Recommendation                         Implementation                     Remark

      3        Ringkasan risalah RUPS tersedia dalam situs web      ESSA telah            Perseroan telah melaksanakan 3 (tiga)
               Perusahaan Terbuka paling sedikit selama 1 (satu)    mengimplementasikan   kali RUPS di Tahun 2023 dimana
               tahun.                                               rekomendasi ini       diantaranya adalah 2 (dua) RUPSLB dan 1
                                                                                          (satu) RUPST. RUPS pertama
                                                                                          diselenggarakan pada tanggal 8 Februari
                                                                                          2023 dan informasi terkait Hasil
                                                                                          Keputusan RUPSLB pertama tersebut
                                                                                          tersedia pada tanggal 9 Februari 2023
                                                                                          yaitu 1 (satu) hari setelah Hari RUPSLB
                                                                                          berakhir. Selanjutnya RUPST yang
                                                                                          diselenggarakan pada tanggal 15 Maret
                                                                                          2023 dan hasil Keputusan RUPST telah
                                                                                          diinformasikan pada tanggal 17 Maret
                                                                                          2023, 2 (dua) hari kerja setelah RUPST
                                                                                          berlangsung. Untuk RUPS ketiga pada
                                                                                          tanggal 4 Oktober 2023 pun, hasil
                                                                                          keputusan RUPSLB telah diinformasikan
                                                                                          pada tanggal 5 Oktober 2023 yaitu 1
                                                                                          (satu) hari setelah RUPSLB berlangsung.
                                                                                          Ketiga Hasil RUPS tersebut telah
                                                                                          dipublikasikan melalui website
                                                                                          Perusahaan, website Bursa Efek
                                                                                          Indonesia dan eASY.KSEI. Pengumuman
                                                                                          tersebut akan tersedia paling sedikit
                                                                                          selama 1 (satu) tahun kedepan.

               The summary of the minutes of the GMS is available   ESSA has              The Company has held 3 (three) GMS in
               on the Public Company website for at least 1 (one)   implemented this      2023, including 2 EGMS and 1 AGMS. The
               year.                                                recommendation        first GMS took place on 8 February 2023
                                                                                          and information related to the results of
                                                                                          the first EGMS becoming available on 9
                                                                                          February 2023, which is 1 (one) day after
                                                                                          the EGMS Day ends. Subsequently, the
                                                                                          AGMS occured on 15 March 2023, and
                                                                                          the results of the AGMS Resolution were
                                                                                          disclosed on 17 March 2023, within 2
                                                                                          (two) working days after the AGMS. For
                                                                                          the third GMS on 4 October 2023, the
                                                                                          results of the EGMS decision were
                                                                                          disclosed on 5 October 2023, which is 1
                                                                                          (one) day after the EGMS took place. The
                                                                                          results of all three of GMS have been
                                                                                          published on the Company's website,
                                                                                          Indonesia Stock Exchange website and
                                                                                          eASY.KSEI. The announcement will be
                                                                                          available for at least 1 (one) year ahead.




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             KILAS           LAPORAN       PROFIL         ANALISIS DAN                   TATA KELOLA    LAPORAN            LAPORAN
             KINERJA         MANAJEMEN     PERUSAHAAN     PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN      KEUANGAN
             Performance     Management    Company        Management                     Corporate      Sustainability     Financial
             Overview        Report        Profile        Discussion And Analysis        Governance     Report             Report




Prinsip 2: Meningkatkan Kualitas Komunikasi Perusahaan Terbuka dengan Pemegang Saham atau Investor
Principle 2: Improving the Quality of Public Company Communication with Shareholders or Investors;
                            Rekomendasi                              Implementasi                          Keterangan
    No.
                           Recommendation                           Implementation                           Remark

1         Perusahaan Terbuka memiliki suatu kebijakan           ESSA belum                  Departemen Legal & Corporate Secretary
          komunikasi dengan Pemegang Saham atau investor.       mengimplementasikan         dan Departemen Investor Relations
                                                                rekomendasi ini             belum mengesahkan Kebijakan
                                                                                            komunikasi dengan Pemegang Saham
                                                                                            atau investor. Namun Departemen Legal
                                                                                            & Corporate Secretary dan Departemen
                                                                                            Investor Relations memiliki pengetahuan,
                                                                                            joblist dan concern yang tinggi terkait
                                                                                            hal-hal yang harus dilakukan demi
                                                                                            memastikan pendekatan yang konsisten
                                                                                            dalam aktivitas sekretaris perusahaan dan
                                                                                            hubungan investor, termasuk komunikasi
                                                                                            dengan seluruh pemangku kepentingan,
                                                                                            keterbukaan informasi dan informasi
                                                                                            rahasia.
          The Public Company has a communication policy         ESSA has not                The Legal & Corporate Secretary
          with shareholders or investors.                       implemented this            Department and Investor Relation
                                                                recommendation              Department has not yet ratified the
                                                                                            communication policy with shareholders
                                                                                            or investors. Nevertheless, both the Legal
                                                                                            & Corporate Secretary Department and
                                                                                            Investor Relation Department possess
                                                                                            extensive knowledge, joblists and
                                                                                            concerns regarding the necessary steps
                                                                                            to ensure a consistent approach in the
                                                                                            activities of the corporate secretary and
                                                                                            investor relation, including
                                                                                            communication with all stakeholders,
                                                                                            disclosure of information and handling
                                                                                            confidential information.
2         Perusahaan Terbuka mengungkapkan kebijakan            ESSA belum                  Emiten akan mengungkapkan kebijakan
          komunikasi Perusahaan Terbuka dengan Pemegang         mengimplementasikan         komunikasi Perusahaan Terbuka dengan
          Saham atau investor dalam Situs Web.                  rekomendasi ini             Pemegang Saham atau investor dalam
                                                                                            Situs Web.
          The Public Company discloses the Public Company's     ESSA has not                The Company will disclose the Public
          communication policy with shareholders or investors   implemented this            Company's communication policy with
          on the Website.                                       recommendation              shareholders or investors on the Website.



Prinsip 3: Memperkuat Keanggotaan dan Komposisi Dewan Komisaris
Principle 3: Strengthening the Membership and Composition of the Board of Commissioners;
                            Rekomendasi                              Implementasi                          Keterangan
    No.
                           Recommendation                           Implementation                           Remark

1         Penentuan jumlah anggota Dewan Komisaris              ESSA telah                  Per 31 Desember 2023, Emiten memiliki 5
          mempertimbangkan kondisi Perusahaan Terbuka.          mengimplementasikan         (lima) anggota Dewan Komisaris yang
                                                                rekomendasi ini             dimana 2 (dua) diantaranya bersifat
                                                                                            Independen, menyesuaikan dengan
                                                                                            kebutuhan dan kondisi Emiten. Komposisi
                                                                                            ini mematuhi anggaran dasar perusahaan,
                                                                                            Peraturan OJK No. 33/POJK.04/2014, dan
                                                                                            Piagam Dewan Komisaris, yang
                                                                                            mewajibkan bahwa setidaknya 30% dari
                                                                                            anggota Dewan Komisaris merupakan
                                                                                            komisaris independen.




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      Prinsip 3: Memperkuat Keanggotaan dan Komposisi Dewan Komisaris
      Principle 3: Strengthening the Membership and Composition of the Board of Commissioners;
                                 Rekomendasi                            Implementasi                         Keterangan
          No.
                                Recommendation                         Implementation                          Remark

                The determination of the number of members of the   ESSA has                As of 31 December 2023, the Company
                Board of Commissioners takes into account the       implemented this        has 5 (five) members on the Board of
                conditions of the Public Company.                   recommendation          Commissioners , with 2 (two) being
                                                                                            independent, adapt to the needs and
                                                                                            conditions of the Company. This
                                                                                            composition complies with the company's
                                                                                            articles of association, OJK Regulation
                                                                                            No. 33/POJK.04/2014, and the Board of
                                                                                            Commissioners Charter, which requires
                                                                                            that at least 30% of the members of the
                                                                                            Board of Commissioners are independent
                                                                                            commissioners.

      2         Penentuan komposisi anggota Dewan Komisaris         ESSA telah              Komposisi anggota Dewan Komisaris
                memperhatikan keberagaman keahlian,                 mengimplementasikan     telah memperhatikan keberagaman
                pengetahuan, dan pengalaman yang dibutuhkan.        rekomendasi ini         keahlian, pengetahuan, dan pengalaman
                                                                                            yang dibutuhkan, seperti Komisaris
                                                                                            merangkap Komisaris Independen yang
                                                                                            juga menjabat sebagai Ketua Komite
                                                                                            Audit memiliki wawasan dan
                                                                                            pengetahuan terhadap audit, laporan
                                                                                            keuangan dan kompetensi lainnya.

                The determination of the composition of the         ESSA has                The composition of the members of the
                members of the Board of Commissioners takes into    implemented this        Board of Commissioners has taken into
                account the diversity of expertise, knowledge and   recommendation          account the diversity of expertise,
                experience required.                                                        knowledge, and experience required. For
                                                                                            Instance, the Commissioner and
                                                                                            Independent Commissioner who also
                                                                                            serves as the Chairman of the Audit
                                                                                            Committee having insight and knowledge
                                                                                            of auditing, financial reports and other
                                                                                            compentencies.


      Prinsip 4: Kualitas Pelaksanaan Tugas dan Tanggung Jawab Dewan Komisaris
      Principle 4: Quality of Implementation of Duties and Responsibilities of the Board of Commissioners;
                                 Rekomendasi                            Implementasi                         Keterangan
          No.
                                Recommendation                         Implementation                          Remark

      1         Dewan Komisaris mempunyai kebijakan penilaian       ESSA belum              Dewan Komisaris belum mempunyai
                sendiri (Self-Assessment) untuk menilai kinerja     mengimplementasikan     kebijakan penilaian sendiri (Self-
                Dewan Komisaris                                     rekomendasi ini         Assessment) namun telah melakukan
                                                                                            penilaian sendiri untuk mengukur kinerja
                                                                                            mereka pada Tahun 2023 dan untuk
                                                                                            mengidentifikasi kelebihan yang harus
                                                                                            mereka pertahankan, serta kekurangan
                                                                                            yang harus mereka perbaiki.
                The Board of Commissioners has a self-assessment    ESSA has not            The Board of Commissioners does not
                policy to assess the performance of the Board of    implemented this        yet have a self-assessment policy but
                Commissioners.                                      recommendation          conducted a self-assessment to measure
                                                                                            their performance in 2023. This
                                                                                            assessment aimed to identify the
                                                                                            strengths that they must maintain and the
                                                                                            weaknesses they must improve.




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             KILAS           LAPORAN         PROFIL        ANALISIS DAN                   TATA KELOLA     LAPORAN            LAPORAN
             KINERJA         MANAJEMEN       PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN      KEBERLANJUTAN      KEUANGAN
             Performance     Management      Company       Management                     Corporate       Sustainability     Financial
             Overview        Report          Profile       Discussion And Analysis        Governance      Report             Report




Prinsip 4: Kualitas Pelaksanaan Tugas dan Tanggung Jawab Dewan Komisaris
Principle 4: Quality of Implementation of Duties and Responsibilities of the Board of Commissioners;
                            Rekomendasi                               Implementasi                          Keterangan
    No.
                           Recommendation                            Implementation                           Remark

2         Kebijakan penilaian sendiri (Self Assessment) untuk    ESSA belum                  Dewan Komisaris sedang dalam proses
          menilai kinerja Dewan Komisaris, diungkapkan           mengimplementasikan         untuk merumuskan kebijakan resmi untuk
          melalui Laporan Tahunan Perusahaan Terbuka.            rekomendasi ini             penilaian sendiri.

          Self-assessment policy to assess the performance of    ESSA has not                The Board of Commissioners is in the
          the Board of Commissioners, is disclosed through       implemented this            process of formulating official policies for
          the Public Company Annual Report                       recommendation              self-assessment.
3         Dewan Komisaris mempunyai kebijakan terkait            ESSA telah                  Kebijakan untuk menangani pengunduran
          pengunduran diri anggota Dewan Komisaris apabila       mengimplementasikan         diri anggota Dewan Komisaris yang
          terlibat dalam kejahatan keuangan.                     rekomendasi ini             terlibat dalam kejahatan keuangan telah
                                                                                             dimasukkan ke dalam Piagam Dewan
                                                                                             Komisaris dan Piagam GCG.
          The Board of Commissioners has a policy regarding      ESSA has                    Policies to handle the resignation of
          the resignation of members of the Board of             implemented this            members of the Board of Commissioners
          Commissioners if they are involved in financial        recommendation              involved in financial crimes has been
          crimes.                                                                            included in Board of Commissioners
                                                                                             Charter and GCG Charter.

4         Dewan Komisaris atau Komite yang menjalankan           ESSA belum                  Dewan Komisaris yang menjalankan
          fungsi Remunerasi dan Nominasi menyusun                mengimplementasikan         fungsi Remunerasi dan Nominasi sedang
          kebijakan suksesi dalam proses Nominasi anggota        rekomendasi ini             menyusun kebijakan suksesi dalam
          Direksi.                                                                           proses Nominasi anggota Direksi.
          The Board of Commissioners or the Committee that       ESSA has not                The Board of Commissioners who carries
          carries out the Remuneration and Nomination            implemented this            out the Remuneration and Nomination
          function formulates a succession policy in the         recommendation              function is currently preparing a
          process of nominating members of the Board of                                      succession policy in the process of
          Directors.                                                                         nominating members of the Board of
                                                                                             Directors.



Prinsip 5: Memperkuat Keanggotaan dan Komposisi Direksi;
Principle 5: Strengthening the Membership and Composition of the Board of Directors;
                            Rekomendasi                               Implementasi                          Keterangan
    No.
                           Recommendation                            Implementation                           Remark

1         Penentuan jumlah anggota Direksi                       ESSA telah                  Jumlah anggota Direksi telah
          mempertimbangkan kondisi Perusahaan Terbuka            mengimplementasikan         mempertimbangkan kondisi Perusahaan
          serta efektifitas dalam pengambilan keputusan.         rekomendasi ini             Terbuka serta efektifitas dalam
                                                                                             pengambilan keputusan. Direksi ESSA
                                                                                             terdiri dari 4 (empat) anggota yang jumlah
                                                                                             anggota Direksi ditentukan dengan
                                                                                             mempertimbangkan kondisi perusahaan
                                                                                             dan efektivitas pengambilan keputusan
                                                                                             anggota Direksi.
          Determination of the number of members of the          ESSA has                    The number of members of the Board of
          Board of Directors takes into account the condition    implemented this            Directors has been determined based on
          of the Public Company and effectiveness in decision    recommendation              the condition of the Public Company and
          making.                                                                            its effectiveness in decision making. The
                                                                                             Board of Directors of ESSA consists of 4
                                                                                             (four) members, and the determination of
                                                                                             the board size takes into account the
                                                                                             condition of the company and the
                                                                                             effectiveness of decision making by its
                                                                                             members.




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      Sustaining Operational Excellence




      Prinsip 5: Memperkuat Keanggotaan dan Komposisi Direksi;
      Principle 5: Strengthening the Membership and Composition of the Board of Directors;
                                  Rekomendasi                              Implementasi                     Keterangan
          No.
                                 Recommendation                           Implementation                      Remark

      2         Penentuan komposisi anggota Direksi                    ESSA telah            Komposisi anggota Direksi telah
                memperhatikan, keberagaman keahlian,                   mengimplementasikan   memperhatikan, keberagaman keahlian,
                pengetahuan, dan pengalaman yang dibutuhkan.           rekomendasi ini       pengetahuan, dan pengalaman yang
                                                                                             dibutuhkan.



                Determination of the composition of the members of     ESSA has              The composition of the members of the
                the Board of Directors takes into account the          implemented this      Board of Directors has taken into account
                diversity of expertise, knowledge, and experience      recommendation        the diversity of expertise, knowledge, and
                required.                                                                    experience required.

      3         Anggota Direksi yang membawahi bidang akuntansi        ESSA telah            Bapak Prakash Chand Bumb, Direktur
                atau keuangan memiliki keahlian dan/atau               mengimplementasikan   dan juga adalah Chief Financial Officer
                pengetahuan di bidang akuntansi.                       rekomendasi ini       (CFO) ESSA, memiliki pengalaman
                                                                                             profesional lebih dari 37 tahun, yang
                                                                                             sebagian besar didapatkan dari posisi
                                                                                             senior beliau di bidang keuangan dan
                                                                                             akuntansi di sektor Energi, Petrokimia,
                                                                                             dan lainnya. Sebelum bergabung dengan
                                                                                             ESSA pada Tahun 2013, beliau bekerja
                                                                                             sebagai Senior Executive Vice President
                                                                                             di Reliance Communications Ltd., India.
                Members of the Board of Directors in charge of         ESSA has              ESSA's Chief Financial Officer (CFO), Mr.
                accounting or finance have expertise and/or            implemented this      Prakash Bumb, has over 37 years of
                knowledge in accounting.                               recommendation        professional experience, most of which
                                                                                             came from his senior positions in finance
                                                                                             and accounting in the Energy,
                                                                                             Petrochemical and other sectors. Prior to
                                                                                             joining ESSA in 2013, he worked as
                                                                                             Senior Executive Vice President at
                                                                                             Reliance Communications Ltd., India.


      Prinsip 6: Meningkatkan Kualitas Pelaksanaan Tugas dan Tanggung Jawab Direksi;
      Principle 6: Improving the Quality of Implementation of Duties and Responsibilities of the Board of Directors;
                                  Rekomendasi                              Implementasi                     Keterangan
          No.
                                 Recommendation                           Implementation                      Remark

      1         Direksi mempunyai kebijakan penilaian sendiri (Self    ESSA belum            Direksi belum mempunyai kebijakan
                Assessment) untuk menilai kinerja Direksi.             mengimplementasikan   penilaian sendiri (Self Assessment) namun
                                                                       rekomendasi ini       telah melakukan penilaian sendiri untuk
                                                                                             mengukur kinerja mereka pada Tahun
                                                                                             2023 dan untuk mengidentifikasi
                                                                                             kelebihan yang harus mereka
                                                                                             pertahankan, serta kekurangan yang
                                                                                             harus mereka perbaiki.

                The Board of Directors has a self-assessment policy    ESSA has not          The Board of Directors does not yet have
                to assess the performance of the Board of Directors.   implemented this      a self-assessment policy but has
                                                                       recommendation        conducted a self-assessment to measure
                                                                                             their performance in 2023 and to identify
                                                                                             the strengths that they must maintain,
                                                                                             and the weaknesses that they must
                                                                                             improve.
      2         Kebijakan penilaian sendiri (Self Assessment) untuk    ESSA belum            Direksi sedang dalam proses untuk
                menilai kinerja Direksi diungkapkan melalui laporan    mengimplementasikan   merumuskan kebijakan resmi untuk
                tahunan Perusahaan Terbuka.                            rekomendasi ini       penilaian sendiri.



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             KILAS            LAPORAN         PROFIL         ANALISIS DAN                   TATA KELOLA    LAPORAN            LAPORAN
             KINERJA          MANAJEMEN       PERUSAHAAN     PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN      KEUANGAN
             Performance      Management      Company        Management                     Corporate      Sustainability     Financial
             Overview         Report          Profile        Discussion And Analysis        Governance     Report             Report




Prinsip 6: Meningkatkan Kualitas Pelaksanaan Tugas dan Tanggung Jawab Direksi;
Principle 6: Improving the Quality of Implementation of Duties and Responsibilities of the Board of Directors;
                             Rekomendasi                                Implementasi                          Keterangan
    No.
                            Recommendation                             Implementation                           Remark

          The self-assessment policy to assess the                 ESSA has not                The Board of Directors is in the process
          performance of the Board of Directors is disclosed       implemented this            of formulating an official policies for
          through the Public Company's annual report.              recommendation              self-assessment.

3         Direksi mempunyai kebijakan terkait pengunduran          ESSA telah                  Kebijakan untuk menangani pengunduran
          diri anggota Direksi apabila terlibat dalam kejahatan    mengimplementasikan         diri anggota Direksi yang terlibat dalam
          keuangan.                                                rekomendasi ini             kejahatan keuangan telah dimasukkan ke
                                                                                               dalam Piagam Direksi dan Piagam GCG.

          The Board of Directors has a policy regarding the        ESSA has                    Policies to handle the resignation of the
          resignation of members of the Board of Directors if      implemented this            members of the Board of Directors
          they are involved in financial crimes.                   recommendation              involved in financial crimes has included
                                                                                               in the Board of Directors Charter and
                                                                                               GCG Charter.


Prinsip 7: Meningkatkan Aspek Tata Kelola Perusahaan melalui Partisipasi Pemangku Kepentingan
Principle 7: Improving Corporate Governance Aspects through Stakeholder Participation
                             Rekomendasi                                Implementasi                          Keterangan
    No.
                            Recommendation                             Implementation                           Remark

1         Perusahaan Terbuka memiliki kebijakan untuk              ESSA telah                  Kebijakan untuk mencegah Insider
          mencegah terjadinya insider trading.                     mengimplementasikan         Trading telah dicakup dalam Peraturan
                                                                   rekomendasi ini             Perusahaan ESSA serta Piagam GCG
                                                                                               ESSA. Peraturan Perusahaan terbaru
                                                                                               telah mendapatkan pengesahan dari
                                                                                               instansi yang berwenang berdasarkan
                                                                                               Surat Keputusan Nomor KEP. 4/
                                                                                               HI.00.00/00.0000.211026027/B/XII/2021.

          The Public Company has a policy to prevent insider       ESSA has                    Policies to prevent Insider Trading are
          trading.                                                 implemented this            covered in the ESSA Corporate Rules and
                                                                   recommendation              the ESSA GCG Charter. The latest
                                                                                               Company Regulation has been approved
                                                                                               by the competent authority based on the
                                                                                               Decree Number KEP. 4/
                                                                                               HI.00.00/00.0000.211026027/B/XII/2021.
2         Perusahaan Terbuka memiliki kebijakan anti-korupsi       ESSA telah                  ESSA telah menerapkan Business
          dan anti-fraud.                                          mengimplementasikan         Principles dalam setiap Purchase Order,
                                                                   rekomendasi ini             serta sistem pencatatan yang lengkap
                                                                                               dan menyeluruh dalam setiap transaksi
                                                                                               keuangan maupun penerimaan dan
                                                                                               pengiriman dokumen. ESSA juga memiliki
                                                                                               Peraturan Perusahaan untuk memberikan
                                                                                               batasan jelas atas fraud.

          The Public Company has an anti-corruption and            ESSA has                    ESSA have implemented Business
          anti-fraud policy.                                       implemented this            Principles in every Purchase Order, as
                                                                   recommendation              well as a complete and comprehensive
                                                                                               recording system in every financial
                                                                                               transaction as well as receipt and
                                                                                               delivery of documents. ESSA also have
                                                                                               Company Regulations to provide clear
                                                                                               boundaries for violations or fraud.




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      Prinsip 7: Meningkatkan Aspek Tata Kelola Perusahaan melalui Partisipasi Pemangku Kepentingan
      Principle 7: Improving Corporate Governance Aspects through Stakeholder Participation
                                 Rekomendasi                          Implementasi                     Keterangan
       No.
                                Recommendation                       Implementation                      Remark

      3        Perusahaan Terbuka memiliki kebijakan tentang      ESSA telah            ESSA memiliki Procurement Policy dan
               seleksi dan peningkatan kemampuan pemasok atau     mengimplementasikan   Commercial Bid Tabulation sehingga
               vendor.                                            rekomendasi ini       seleksi dan peningkatan kemampuan
                                                                                        vendor terlaksana dengan baik.



               The Public Company has a policy regarding the      ESSA has              ESSA has a Procurement Policy and
               selection and capacity building of suppliers or    implemented this      Commercial Bid Tabulation so that
               vendors.                                           recommendation        vendor selection and ability
                                                                                        enhancement is carried out properly.




      4        Perusahaan Terbuka memiliki kebijakan tentang      ESSA telah            Peraturan Perusahaan ESSA menyatakan
               pemenuhan hak-hak kreditur.                        mengimplementasikan   bahwa semua unit bisnis diwajibkan
                                                                  rekomendasi ini       menjaga komitmen untuk memenuhi
                                                                                        hak-hak kreditur menurut ketentuan yang
                                                                                        disepakati dalam kontrak terkait.

               The Public Company has a policy regarding the      ESSA has              The ESSA's Company Regulation states
               fulfillment of creditor rights.                    implemented this      that all business units are required to
                                                                  recommendation        maintain commitments to fulfill creditor
                                                                                        rights according to the terms agreed in
                                                                                        the relevant contract.

      5        Perusahaan Terbuka memiliki kebijakan sistem       ESSA belum            ESSA sedang memfinalisasi mekanisme
               whistleblowing.                                    mengimplementasikan   pelaporan pelanggaran. Namun, seluruh
                                                                  rekomendasi ini       karyawan diminta untuk secara proaktif
                                                                                        melaporkan kepada atasan langsung
                                                                                        mereka jika menemukan kecurangan atau
                                                                                        pelanggaran terhadap etika bisnis,
                                                                                        peraturan perusahaan, Anggaran Dasar,
                                                                                        undang-undang atau informasi yang
                                                                                        bersifat rahasia.

               Public Companies have a whistleblowing system      ESSA has not          ESSA is finalizing the violation reporting
               policy.                                            implemented this      mechanism. However, all employees are
                                                                  recommendation        required to proactively report to their
                                                                                        immediate supervisor if they find fraud or
                                                                                        violations of business ethics, company
                                                                                        regulations, Articles of Association, laws
                                                                                        or confidential information.


      6        Perusahaan Terbuka memiliki kebijakan pemberian    ESSA belum            ESSA masih dalam proses untuk
               insentif jangka panjang kepada Direksi dan         mengimplementasikan   menentukan bentuk insentif jangka
               Karyawan.                                          rekomendasi ini       panjang yang paling sesuai untuk
                                                                                        diberikan kepada Direksi dan karyawan.

               The Public Company has a policy of providing       ESSA has not          ESSA is still in the process of determining
               long-term incentives to Directors and Employees.   implemented this      the most appropriate form of long-term
                                                                  recommendation        incentives to be given to the Board of
                                                                                        Directors and employees.




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             KILAS            LAPORAN        PROFIL            ANALISIS DAN                   TATA KELOLA    LAPORAN            LAPORAN
             KINERJA          MANAJEMEN      PERUSAHAAN        PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN      KEUANGAN
             Performance      Management     Company           Management                     Corporate      Sustainability     Financial
             Overview         Report         Profile           Discussion And Analysis        Governance     Report             Report




Prinsip 8: Meningkatkan Pelaksanaan Keterbukaan Informasi.
Principle 8: Improving the Implementation of Information Disclosure.
                            Rekomendasi                                   Implementasi                          Keterangan
    No.
                           Recommendation                                Implementation                           Remark

1         Perusahaan Terbuka memanfaatkan penggunaan                 ESSA telah                  Emiten telah dengan tepat waktu
          teknologi informasi secara lebih luas selain Situs         mengimplementasikan         memberikan keterbukaan informasi
          Web sebagai media keterbukaan informasi.                   rekomendasi ini             mengenai hal-hal yang perlu diketahui
                                                                                                 Publik, baik menyangkut Hubungan
                                                                                                 Investor, Laporan Tahunan, Laporan
                                                                                                 Keuangan, Kepemilikan Saham,
                                                                                                 Corporate Action maupun fakta material
                                                                                                 yang dapat diakses melalui website
                                                                                                 Emiten pada www.essa.id dan website
                                                                                                 Bursa Efek Indonesia dengan kode
                                                                                                 saham; ESSA.
          Public Companies utilize the use of information            ESSA has                    The Company has timely provided
          technology more broadly in addition to the Website         implemented this            information disclosure regarding matters
          as a medium for information disclosure.                    recommendation              that the public needs to know, both
                                                                                                 concerning Investor Relation, Annual
                                                                                                 Report, Financial Reports, Share
                                                                                                 Ownership, Corporate Action and
                                                                                                 material facts that can be accessed
                                                                                                 through the Issuer's website at www.
                                                                                                 essa.id and the website Indonesia Stock
                                                                                                 Exchange with stock code; ESSA.
2         Laporan Tahunan Perusahaan Terbuka                         ESSA telah                  Emiten telah dengan tepat waktu
          mengungkapkan pemilik manfaat akhir dalam                  mengimplementasikan         memberikan keterbukaan informasi
          kepemilikan saham Perusahaan Terbuka paling                rekomendasi ini             mengenai Pemegang Saham Pengendali,
          sedikit 5% (lima persen), selain pengungkapan                                          Pemilik Manfaat Terakhir, Kepemilikan
          pemilik manfaat akhir dalam kepemilikan saham                                          saham Direksi dan Komisaris serta
          Perusahaan Terbuka melalui Pemegang Saham                                              kepemilikan saham diatas 5% pada
          utama dan pengendali.                                                                  pelaporan Laporan Registrasi Pemegang
                                                                                                 Efek pada setiap bulannya dan/atau
                                                                                                 maksimal 2 (dua) hari setelah transaksi
                                                                                                 saham yang dapat diakses pada Website
                                                                                                 Bursa Efek Indonesia. Emiten juga telah
                                                                                                 mengungkapkan pemilik manfaat akhir
                                                                                                 dalam laporan bulanan registrasi
                                                                                                 pemegang efek.
          The Public Company Annual Report discloses the             ESSA has                    The Company has timely provided
          ultimate beneficial owner in the Public Company's          implemented this            information disclosure regarding the
          share ownership of at least 5% (five percent), in          recommendation              Controlling Shareholder, Beneficial
          addition to the disclosure of the final beneficial                                     Ownership, Board of Directors and
          owner in the Public Company's share ownership                                          Commissioners share ownership and
          through the major and controlling shareholders.                                        share ownership above 5% in the
                                                                                                 reporting of the Securities Holder
                                                                                                 Registration Report on a monthly basis
                                                                                                 and/or a maximum of 2 (two) days after
                                                                                                 the share transaction carried out and it
                                                                                                 can be accessed on the Indonesia Stock
                                                                                                 Exchange Website. The Company has
                                                                                                 also disclosed the beneficial ownerhip in
                                                                                                 the monthly securities holder registration
                                                                                                 report.




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       06
                                                   LAPORAN
                                                   KEBERLANJUTAN
                                                   SUSTAINABILITY
                                                   REPORT
                                     176   Tentang Laporan Ini                      207   People: Aspek Ketenagakerjaan &
                                           About This Report                              Pengembangan Masyarakat
                                           [GRI 2-2, 2-3, 2-4, 2-5, 2-25, 3-1,            Employment & Community Development Aspect
                                           3-2, 3-3][OJK G.1, G.3]                  223   Product: Meningkatkan Keunggulan Produk
                                     178   Ikhtisar Kinerja Tahun 2023                    Increasing Product Excellence
                                           Summary of 2023 Highlights               227   Surat Pernyataan Anggota Direksi dan Anggota
                                     181   Pendekatan Keberlanjutan Kami                  Dewan Komisaris tentang Tanggung Jawab atas
                                           Our Sustainability Approach                    Laporan Tahunan 2023
                                     190   Fokus Memimpin Upaya Indonesia Untuk           PT ESSA Industries Indonesia Tbk.
                                           Mewujudkan Industrialisasi Kelas Dunia         Statement of Responsibility from Member of the
                                           Focus on Leading Indonesia’s Drive to          Board of Directors and the Board of Commissioners
                                           World Class Industrialization                  for 2023 Annual Report of
                                                                                          PT ESSA Industries Indonesia Tbk.
                                     194   Planet: Lingkungan & Keberlanjutan
                                           Environment & Sustainability [OJK F.4]




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Laporan Tahunan & Laporan Keberlanjutan 2023
     2023 Annual Report & Sustainability Report
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            PT ESSA Industries Indonesia Tbk.
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      Sustaining Operational Excellence



      Tentang Laporan Ini
      About This Report
      [GRI 2-2, 2-3, 2-4, 2-5, 2-25, 3-1, 3-2, 3-3][OJK G.1, G.3]

      Sebagai salah satu perusahaan yang bergerak di bidang             As an entity engaged in the natural gas refining and
      permurnian dan pengolahan gas bumi, PT ESSA Industries            processing, PT ESSA Industries Indonesia Tbk. (the
      Indonesia Tbk. (“Perseroan”) memahami tanggungjawab kami          “Company”) is responsible for carrying out its operating
      dalam mendukung keberlanjutan di seluruh kegiatan operational     and business activities in a sustainable manner. This report
      dan bisnis yang kami lakukan. Laporan ini merupakan laporan       is an integrated report between Annual Report and
      terintegrasi antara Laporan Tahunan dan Laporan Keberlanjutan     Sustainability Report that is issued annually by the Company.
      yang diterbitkan setiap tahun oleh Perseroan. Dengan demikian     Thus, the information presented is complementary and
      informasi yang disajikan bersifat saling melengkapi dan           related to each other so that there is no need for repeated
      berkaitan satu sama lain sehingga tidak diperlukan adanya         disclosure of data or information in both the Annual Report
      pengungkapan data atau informasi yang berulang baik pada          and Sustainability Report sections. This report consists of
      bagian Laporan Tahunan maupun Laporan Keberlanjutan.              the Company’s strategies, initiatives, and performance in
      Laporan ini mencakup strategi, inisiatif, dan kinerja Perseroan   accordance with the environmental, social and governance
      di bidang lingkungan, sosial dan tata kelola (“ESG”) serta        (“ESG”) criteria as well as people, planet, and profit (“3P”)
      aspek people, planet dan profit (“3P”) atau ekonomi, sosial       or economic, social and environmental aspects for 2023
      dan lingkungan untuk periode pelaporan Tahun 2023 dan             reporting period and a continuation of the previous year’s
      merupakan kesinambungan dari laporan tahun sebelumnya.            report. Furthermore, it is expected that this report serves
      Dengan penerapan tersebut, diharapkan laporan ini mampu           to present facts in regard to business and non-business
      menyajikan fakta-fakta seputas aktivitas dan kinerja bisnis       activities and performance in a transparent and structured
      serta non-bisnis secara transparan dan terstruktur.               manner.

      RUANG LINGKUP DAN BATASAN                                         REPORT SCOPE AND BOUNDARIES
      PELAPORAN
      Isi dari laporan ini mencakup kinerja bisnis dan non-bisnis       The contents of this report cover both business and non-
      yakni pencapaian kinerja ekonomi, sosial dan lingkungan           business performance, namely the achievement of economic,
      Perseroan dan entitas anak selama kurun waktu 1 Januari           social, and environmental performance of the Company
      2023 hingga 31 Desember 2023. Di dalam laporan ini,               and its subsidiaries from 1 January 2023 to 31 December
      Perseroan menyampaikan informasi keuangan berdasarkan             2023. In this report, the Company presents financial
      pada Laporan Keuangan Konsolidasi yang telah diaudit oleh         information based on the Consolidated Financial Statements
      Kantor Akuntan Publik. Jika memungkinkan, data dari tahun-        that have been audited by the Public Accounting Firm.
      tahun keuangan sebelumnya disertakan sebagai                      Where possible, data from previous financial years is
      perbandingan. Tidak ada perubahan signifikan atas cakupan         included for comparison. There are no significant changes
      laporan dan tidak ada pernyataan kembali.                         to the scope of the report and no restatement.

      KERANGKA DAN ACUAN PELAPORAN                                      REPORT FRAMEWORK AND
                                                                        BENCHMARK
      Laporan ini diterbitkan sesuai dengan kondisi Perusahaan          This report is published in accordance with the Company’s
      sepanjang tahun 2023 dengan mengacu pada ketentuan                conditions throughout 2023 in compliance with the following
      yang termaktub dalam:                                             regulations:
         • POJK No. 51/POJK.03/2017 tentang Penerapan                       • Financial Services Authority (FSA) Regulation No.
             Keuangan Berkelanjutan Perusahaan Publik;                          51/POJK.03/2017 concerning the Implementation of
                                                                                Sustainable Finance for Public Companies;
         •   SEOJK No. 16/SEOJK.04/2021 tentang Bentuk dan                  • FSA Circular Letter No. 16/SEOJK.04/2021 concerning
             Isi Laporan Tahunan Emiten atau Perusahaan Publik;                 the Form and Content of the Annual Report of Issuers
             dan                                                                or Public Companies; and
         •   Global Reporting Initiative (GRI) Standard 2021                • Global Reporting Initiative (GRI) Standard 2021 with
             dengan kesesuaian “with reference”, mengikuti                      conformity of “with reference”, following the reporting
             prinsip-prinsip pelaporan yaitu Akurasi, Keseimbangan,             principles of Accuracy, Balance, Clarity, Comparability,
             Kejelasan, Komparabilitas, Kelengkapan, Konteks                    Completeness, Sustainability Context, Timeliness
             Keberlanjutan, Ketepatan Waktu dan Dapat Diverifikasi.             and Verifiability.


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           KILAS          LAPORAN       PROFIL       ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
           KINERJA        MANAJEMEN     PERUSAHAAN   PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
           Performance    Management    Company      Management                     Corporate      Sustainability    Financial
           Overview       Report        Profile      Discussion And Analysis        Governance     Report            Report




TINGKAT PEMENUHAN INFORMASI DAN                                INFORMATION COMPLIANCE LEVEL
VERIFIKASI                                                     AND VERIFICATION

Perseroan belum melakukan proses assurance pada                The Company has not carried out the assurance process
laporan ini. Namun, Perseroan telah melakukan verifikasi       for this report. However, the Company already internally
dan validasi secara internal atas data-data yang disajikan     verified and validated the data presented in this report,
dalam laporan ini dan mendapatkan persetujuan                  and approved by the Board of Directors.
Direksi.

KONTAK PELAPORAN                                               REPORTING CONTACT
Kami menghargai umpan balik dan menanggap sebagai              We appreciate all feedback and respond them as an
peluang untuk mengidentifikasi beberapa area yang              opportunity to improve a number of areas in the future. No
dapat kami perbaiki ke depannya. Tidak terdapat                responses were received regarding the previously submitted
tanggapan yang diterima terkait laporan keberlanjutan          sustainability report from stakeholders. If you have any
yang disampaikan sebelumnya dari pemangku                      feedback upon this report, please kindly submit it to:
kepentingan. Apabila Anda memiliki tanggapan atas
laporan ini, silahkan mengirimkannya kepada:

       PT ESSA Industries Indonesia Tbk.
       DBS Bank Tower 18th Floor
       Ciputra World 1 Jakarta
       Jl. Prof. Dr. Satrio Kav. 3-5
       Jakarta 12940, Indonesia
       Telp.      : +62 21 2988 5600
       Fax.       : +62 21 2988 5601
       corpsec.eii@essa.id




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      Sustaining Operational Excellence



      Ikhtisar Kinerja Tahun 2023
      Summary of 2023 Highlights



                Tata Kelola                               •    Telah tersertifikasi ISO 14001: 2015 tentang Sistem
                Governance                                     Manajemen Lingkungan.
                                                               Has been certified with ISO 14001: 2015 on Environmental
                                                               Management System.
                                                          •    40% Persentase Komisaris Independen, lebih banyak
                                                               daripada yang dipersyaratkan, yakni minimal 30%.
                                                               40% Independent Commissioner percentage, more than the
                                                               required minimum of 30%.
                                                          •    Nihil kasus korupsi yang terkonfirmasi selama tahun 2023.
                                                               Zero confirmed corruption cases by 2023.


         •   Meraih penghargaan GREEN PROPER
                                                                                            Manajemen lingkungan
             pada tahun 2023, untuk tahun kedua berturut - turut.
                                                                                           Environmental Management
             Achieved GREEN PROPER award in 2023,
             for the second consecutive year.
         •   Pengurangan emisi GRK berupa CO2
             sebesar 135.272,97 ton CO2.
             Reduction of GHG emissions in the form of CO2
             by 135,272.97 tons of CO2.
         •   Pengurangan limbah B3 sebesar 77,67 ton.
             Reduction of hazardous waste by 77.67 tons.
         •   Pengurangan konsumsi air sebesar 103.405,35 m3.
             Reduced water consumption by 103,405.35 m3.


         Manajemen Sosial dan
       Pemberdayaan Masyarakat                        •       Terus memberdayakan masyarakat setempat melalui
         Social Management and                                pengembangan kapasitas, pengembangan ekonomi
        Community Empowerment                                 lokal, program dukungan pendidikan, dan program
                                                              pengembangan generasi muda.
                                                              Continued to empower local communities through our
                                                              capacity-building, local economic development,
                                                              educational support programmes and youth
                                                              development programmes.




                                                                                          Kesehatan dan keselamatan
                                                                                               Health and Safety
         •   Mencapai angka kematian nihil pada tahun 2023,
             untuk dua tahun berturut-turut.
             Achieved zero fatalities in 2023, for the second
             year in succession.




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             KILAS              LAPORAN      PROFIL         ANALISIS DAN                       TATA KELOLA   LAPORAN                 LAPORAN
             KINERJA            MANAJEMEN    PERUSAHAAN     PEMBAHASAN MANAJEMEN               PERUSAHAAN    KEBERLANJUTAN           KEUANGAN
             Performance        Management   Company        Management                         Corporate     Sustainability          Financial
             Overview           Report       Profile        Discussion And Analysis            Governance    Report                  Report




KINERJA EKONOMI                                                       ECONOMIC PERFORMANCE

            Keterangan
                                                   2021                                   2022                                2023
            Description
Pendapatan (Dolar AS)                          303.437.230                             731.490.734                     344.961.625
Revenue (US Dollar)
Laba Tahun Berjalan (Dolar AS)                  14.354.428                            220.790.326                       46.723.437
Income for the Year (US Dollar)
Total Aset (Dolar AS)                          809.293.023                             831.295.165                     695.442.247
Total Assets (US Dollar)
Total Liabilitas (Dolar AS)                     508.511.713                           305.931.065                      197.698.606
Total Liabilities (US Dollar)
Produk Ramah Lingkungan*                      Blue Ammonia                        Blue Ammonia                        Blue Ammonia
Environmentally Friendly Products
Pelibatan Pemasok Lokal (Jumlah                    671                                        721                             722
Pemasok)
Local Supplier Engagement
(Number of Supplier


KINERJA LINGKUNGAN HIDUP                                              ENVIRONMENTAL PERFORMANCE

             Keterangan
                                                  2021                                 2022                               2023
             Description

Penggunaan Energi
Energy Consumption
Bahan bakar Minyak (GJ)                         13.752,27                         13.181,08                             11.179,12
Gasoline (GJ)
Listrik (GJ)                                   358.004,68                        386.557,87                            378.838,3
Electricity (GJ)
Emisi Gas Rumah Kaca (GRK) yang Dihasilkan
Generated Green House Gas (GHG) Emissions
Emisi Langsung Cakupan 1 (Ton                  906.255,81                        1.226.818,31                         1.198.771,57
Co2EQ)
Direct Emission Scope 1 (Ton
Co2EQ)
Emisi Tidak Langsung Cakupan 2                      -                                     -                                   -
(Ton Co2EQ)
Indirect Emission Scope 2 (Ton
Co2EQ)
Limbah yang Dihasilkan
Generated Waste
Limbah B3 (Ton)                                 323,178                           209,934                               112,293
Hazardous Waste (Ton)
Limbah Non-B3 (Ton)                             252,430                               364,828                           591,346
Non-Hazardous Waste (Ton)
Peningkatan (Pengurangan) Limbah yang Dihasilkan
Generated Waste Increase (Reduction)
Limbah B3 (Ton)                                   N/A                                 (113,244)                         (97,641)
Hazardous Waste (Ton)
Limbah Non-B3 (Ton)                               N/A                             (112,398)                             226,518
Non-Hazardous Waste (Ton)




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      Sustaining Operational Excellence




                  Keterangan
                                                       2021                          2022                            2023
                  Description

      Pelestarian Keanekaragaman                 Rp 820.000.000                Rp 820.000.000                   Rp 820.000.000
      Hayati* (Jutaan Rupiah)                    Rp 820.000.000                Rp 820.000.000                   Rp 820.000.000
      Biodiversity Preservation (Million
      Rupiah)
      *Perseroan melakukan beragam upaya pelestarian keanekaragaman hayati seperti penanaman pohon, pemasangan panel surya,
      instalasi limbah air, dan bantuan lingkungan.
      *The Company carries out various biodiversity conservation efforts such as tree planting, solar panel installation, waste water
      installation, and environmental assistance.


      KINERJA SOSIAL                                                    SOCIAL PERFORMANCE


                    Keterangan
                                                        2021                          2022                            2023
                    Description
      Karyawan Wanita (%)                                 14                            14                              16
      Female Employees (%)
      Jumlah Jam Pelatihan (Jam)                        278,5                         3.481,5                       2.508,75
      Total Training Hours (Hours)
      Rata-Rata Jam Pelatihan per Karyawan               0,69                          8,25                            5,74
      per Tahun (Jam/Tahun)
      Average Training Hours per Employee
      per Year (Hours/Year)
      Biaya CSR (Rupiah)
                                                     77.853.700                     77.177.300                     106.792.408
      CSR Fund (Rupiah)




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                   KILAS                LAPORAN           PROFIL         ANALISIS DAN                     TATA KELOLA          LAPORAN           LAPORAN
                   KINERJA              MANAJEMEN         PERUSAHAAN     PEMBAHASAN MANAJEMEN             PERUSAHAAN           KEBERLANJUTAN     KEUANGAN
                   Performance          Management        Company        Management                       Corporate            Sustainability    Financial
                   Overview             Report            Profile        Discussion And Analysis          Governance           Report            Report




   Pendekatan Keberlanjutan Kami
   Our Sustainability Approach

   BISNIS KAMI                                                                      OUR BUSINESS [GRI 2-6][OJK C.4]




              Gas alam cair merupakan campuran dari berbagai hidrokarbon yang berasal dari gas alam yang didominasi
              oleh propana (C3) dan butana (C4). Di Indonesia, LPG banyak digunakan sebagai bahan bakar untuk peralatan
              pemanas di dapur, pusat perbelanjaan dan hotel, bahan bakar kendaraan dan industri konstruksi seperti
              peralatan las di bengkel baja.

              Liquified natural gas is a mixture of various hydrocarbons derived from natural gas dominated by propane
              (C3) and butane (C4). In Indonesia, LPG is mainly used as fuel for heating appliances in the kitchen, shopping
              centers and hotels, vehicle fuel and construction industry such as welding appliances in steel workshop.




                                                                        LPG
Merupakan senyawa alkana lima karbon atau lebih
yang merupakan produk sampingan cair dari gas                           LPG
alam yang dimurnikan. Di pasar domestik, kondensat                                                              Energi
terutama digunakan sebagai bahan dasar pengencer
cat, perekat dan ban kendaraan. Selain itu dapat
                                                                                                                Energy
digunakan sebagai light naphtha yang berfungsi                         Kondensat
sebagai cracker dalam proses produksi polyethylene.
                                                                       Condensate
It is five-carbon or more alkane compound which is                                                                        Perseroan memiliki dan mengoperasikan
a liquid by-product of refined natural gas. Within the                                                                    kilang LPG (Liquefied Petroleum Gas) domestik
domestic market, condensate is mainly used as                                                                             terbesar milik swasta di Indonesia. Bisnis
basic material for paint thinner, adhesive, and vehicle                                                                   utamanya adalah pemurnian dan pengolahan
tires. Apart from that, it can be used as light naphtha                                                                   gas bumi untuk menghasilkan LPG dan
serving as cracker in the process of polyethylene                                                                         Kondensat.
production.
                                                                                                                          The Company owns and operates the largest
                                                                                                                          privately-owned domestic liquefied petroleum
                                                                                                                          gas (LPG) refinery in Indonesia. Its main
                                                                                                                          business is the refining and processing of
                                                                                                                          natural gas to produce LPG and Condensate.

      Merupakan senyawa anorganik berbentuk gas tidak
      berwarna, terdiri dari Nitrogen dan Hidrogen dengan
      rumus NH3. Amoniak digunakan sebagai bahan baku
      utama pembuatan pupuk. Serta turunan lainnya
      termasuk bahan peledak pewarna, pembersih rumah
      tangga dan nilon.

      It is an inorganic compounds in a form colorless gas
                                                                                                             Peseroan memiliki pabrik Amoniak yang menjadi salah
      consisting of Nitrogen and Hydrogen with the formula
                                                                                                             satu proyek industri terbesar di Indonesia Timur. Pabrik
      NH3. Ammonia is used as the main raw material for
                                                                                                             Amoniak ini menggunakan Reforming Exchanger System
      the manufacturing of fertilizers. As well as other
                                                                                                             & Purifier Technology KBR, teknologi terdepan dalam
      derivaties including explosives, dyes, household
                                                                                                             produksi Amoniak. Ini merupakan aplikasi pertama di dunia,
      cleaners and nylon.
                                                                                                             yang menempatkan Indonesia sebagai yang terdepan
                                                                                                             dalam produksi Amoniak di seluruh dunia.

                                      Amoniak                        Bahan Kimia                             The Company owns Ammonia Plant as one of the biggest
                                                                                                             industrial projects in Eastern of Indonesia. This Ammonia
                                      Ammonia                          Chemicals                             plant runs on KBR’s Reforming Exchanger System & Purifier
                                                                                                             Technology, the leading technology in Ammonia production.
                                                                                                             This Ammonia Plant runs on KBR’s Reforming Exchanger
                                                                                                             System & Purifier Technology, the leading technology in
                                                                                                             Ammonia production. This represents its first application
                                                                                                             in the world, which puts Indonesia at the forefront of
                                                                                                             Ammonia production worldwide.




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      Sustaining Operational Excellence




      STRATEGI KEBERLANJUTAN KAMI                                            OUR SUSTAINABILITY STRATEGIES
      [GRI 2-22][OJK A.1]                                                    [GRI 2-22][OJK A.1]

      Perseroan menerapkan strategi keberlanjutan yang berfokus              The Company implements a sustainability strategy that
      pada aspek ESG melalui upaya atau kegiatan berkaitan                   focuses on ESG aspects through efforts or activities related
      dengan keselamatan, karyawan, produk, dan lingkungan.                  to safety, employees, products, and the environment. The
      Penerapan tersebut dilakukan sejalan dengan visi, misi, nilai          implementation is carried out in line with the Company's
      perusahaan, dan penerapan terbaik GCG.                                 vision, mission, corporate values, and GCG best practices.




                                                                      Misi Kami
                                                                     Our Mission
                                                                            rasi oleh
                                                                   Terinspire
                                                                      Inspi d by



                                                               n
                                                            wa
                                                        r ya ple
                                                      Ka eo                                Pro
                                                         P                               Pro duk
                                                                                            du
                                                                                               ct


                                                             Memimpin Upaya
                                                       Indonesia untuk Mewujudkan
                                                         Industrialisasi Kelas Dunia
                                                                                                                nce
                                       Kes afety




                                                            The Lead Indonesia’s
                                                                                                         ove aik
                                                                                                            rna




                                                            Drive to World Class
                                          elam




                                                                                                       eG gB
                                           S




                                                                                                 rpo n y la




                                                              Industrialization
                                                                                              Co haa elo
                                                                                                    rat an
                                               atan




                                                                                            od sa a K
                                                                                          Go Peru Tat




                                                               Lingkungan
                                                                  Plant




                                                            Nilai
                                                                  Perusahaan Kami
                                                                Our Core Value




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           KILAS            LAPORAN      PROFIL       ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
           KINERJA          MANAJEMEN    PERUSAHAAN   PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
           Performance      Management   Company      Management                     Corporate      Sustainability    Financial
           Overview         Report       Profile      Discussion And Analysis        Governance     Report            Report




BUDAYA KEBERLANJUTAN KAMI                                       OUR SUSTAINABILITY CULTURE
                                                                [GRI 2-24][OJK C.1, F.1]

Budaya keberlanjutan yang diterapkan oleh ESSA dibangun         ESSA’s sustainability culture is grounded with purpose and
berlandaskan tujuan dan nilai-nilai perusahaan dan              corporate values, and is continually implemented in
dilaksanakan sesuai dengan ketentuan dalam POJK No. 51/         accordance with OJK Regulation No. 51/POJK.03/2017
POJK.03/2017 tentang penerapan keuangan berkelanjutan.          concerning sustainable finance implementation.




 VISI / VISION
                                                                 MISI / MISSION
Memimpin upaya Indonesia untuk                                  Memberikan nilai tambah bagi sumber daya
mewujudkan industrialisasi kelas dunia.                         Indonesia, melalui investasi pada sektor riil,
To lead Indonesia’s drive to world class                        pengembangan sumber daya manusia, mengurangi
                                                                ketergantungan negara pada impor dan
industrialization.                                              menciptakan peluang untuk meningkatkan
                                                                pertumbuhan.
                                                                Add value to Indonesia’s resources by investing in the
                                                                real sector, developing human capital, reducing the
                                                                country’s dependence on imports, and creating
                                                                opportunities for further growth.


 NILAI PERUSAHAAN /
 CORPORATE VALUES




              Excellence, Perseverance, Integrity, Care


          EXCELLENCE                     PERSEVERANCE                     INTEGRITY                          CARE
          KEUNGGULAN                     KETEKUNAN                        INTEGRITAS                         PEDULI

    Kami berkomitmen               Kami memiliki                  Kami jujur, profesional,          Kami senantiasa peduli
    untuk menghasilkan             ketekunan dan                  dan berlandaskan                  terhadap masyarakat
    kinerja yang terbaik.          kegigihan yang kuat            moral dalam semua                 sekitar dan lingkungan.
    We are committed to            dalam mencapai tujuan.         kegiatan usaha kami.              We always care about
    provide the best               We have a strong               We are honest,                    the local community
    performance.                   perseverance and               professional, and                 and the environment.
                                   tenacity in achieving          moral-based in all our
                                   goals.                         business activities.




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      Sustaining Operational Excellence




      PROGRAM KAMI                                                 OUR CULTURE [OJK B.1, B.2, B.3]

        Lingkungan               Bagi Lingkungan
       Environmental             For Environment


                                 Perusahaan berusaha meminimalisir pemakaian energi dengan efisiensi pemakaian air,
                                 listrik dan pembatasan penggunaan material plastik pada operasional sehari-hari. Efisiensi
                                 intensitas energi mencapai 0,21% untuk Amoniak dan 4,24% untuk LPG dibandingkan
                                 tahun 2022.

                                 The Company tries to minimize energy use by using efficient water, electricity and limiting
                                 the use of plastic materials in daily operations. Energy intensity efficiency reached 0,21%
                                 for Ammonia and 4,24% for LPG compared to 2022.


                                                                 Sosial
                                                                 Social

                Bagi Karywan                             Bagi Masyarakat                           Bagi Mitra Kerja
                For Employees                            For Communities                         For Business Partners

       ZERO                                   Penyaluran bantuan kemanusiaan dan           Bekerjasama dengan Pertamina EP
       Kecelakaan Kerja pada PLP dan 5,74     kesehatan pada penduduk sekitar Pabrik       dalam penjualan Gas LPG serta
       jam pelatihan/karyawan.                dan Kilang, serta ikut membantu dalam        bekerjasama dengan Genesis
                                              penyediaan lapangan kerja di masyarakat      Corporation dalam penjualan
       ZERO Occupational Accidents on         sekitar.                                     Amoniak.
       PLP and 5.74 hours of training/
       employees.                             Distribution of humanitarian and health      Cooperate with Pertamina EP in
                                              assistance to residents around plant         sales of LPG and cooperate with
                                              and refineries, as well as assisting in      Genesis Corporation in the sales
                                              providing employment opportunities in        of Ammonia.
                                              the surrounding community.


         Kebijakan              Bagi Para Pemegang Saham                                Bagi Para Pemegang Saham
          Policies              For Shareholders                                        For Shareholders

                                Pada Tahun 2023, Perseroan membagikan dividen           Perseroan telah menyampaikan
                                tunai untuk Tahun Buku 2022 sebesar Rp 45               Keterbukaan Informasi sesuai dengan
                                per saham atau total sebesar Rp775.213.906.500          ketentuan POJK dan peraturan Bursa
                                (sekitar USD51,5 juta) atau sekitar 23,3% dari          Efek Indonesia, baik mengenai fakta
                                Laba Bersih Tahun Buku 2022 sesuai dengan               material maupun tindakan korporasi.
                                Keputusan Rapat Umum Pemegang Saham
                                Tahunan (“RUPST”) tanggal 15 Maret 2023.                The Company has submitted Disclosure
                                Pembayaran dividen tunai telah dilakukan pada           of Information in accordance with the
                                tanggal 5 April 2023.                                   provisions of the POJK and the
                                                                                        regulations of the Indonesia Stock
                                In 2023, the Company distributed cash dividends         Exchange, both regarding material
                                for the fiscal year 2022 of Rp45 per share or a         facts and corporate actions.
                                total of Rp775,213,906,500 (approximately
                                USD51.5 million) or approximately 23.3% of Net
                                Income for the fiscal year 2022 in accordance
                                with the Resolution of the Annual General Meeting
                                of Shareholders ("AGMS") dated 15 March 2023.
                                The cash dividend payment has been made on
                                5 April 2023.




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           KILAS          LAPORAN       PROFIL       ANALISIS DAN                   TATA KELOLA     LAPORAN          LAPORAN
           KINERJA        MANAJEMEN     PERUSAHAAN   PEMBAHASAN MANAJEMEN           PERUSAHAAN      KEBERLANJUTAN    KEUANGAN
           Performance    Management    Company      Management                     Corporate       Sustainability   Financial
           Overview       Report        Profile      Discussion And Analysis        Governance      Report           Report




TATA KELOLA                                                    GOVERNANCE

Penanggungjawab Penerapan Aspek                                Officer in Charge of Sustainability Aspects
Keberlanjutan [GRI 2-14] [OJK E.1]                             [GRI 2-14] [OJK E.1]

Pelaksanaan kegiatan K3 dan CSR Perseroan merupakan            The implementation of the Company’s Occupational Health
bagian dari penerapan Tata Kelola Keberlanjutan. Pada PLP,     and Safety (OHS) and CSR activities is part of the
kegiatan K3 dan CSR dikelola oleh unit kerja Health Safety     implementation of Sustainable Governance. At PLP, OHS
Environment (HSE) dan Security & Comdev yang berada di         and CSR activities are managed by the Health Safety
bawah supervisi Plant Manager. Sedangkan pada BAP,             Environment (HSE) and Security & Comdev work units under
kegiatan K3 dan CSR dikelola oleh unit kerja Health Safety     the supervision of the Plant Manager. At BAP, OHS and
Environment (HSE) serta Security and External Relations        CSR activities are managed by the Health Safety Environment
yang berada di bawah supervisi Operation Site Head BAP.        (HSE) as well as Security and External Relations work units
Perseroan memiliki unit kerja Sustainability yang dibentuk     under the supervision of the Operation Site Head of BAP.
di Tahun 2023. Baik Head Office, PLP dan BAP, seluruh          The Company has Sustainability work unit that was
kegiatan yang berkaitan dengan K3 and CSR berada dalam         established in 2023. All activities related to OHS and CSR
kewenangan Direktur Operasional (Chief Operating Officer).     at the Head Office, PLP, and BAP are under the authority
Sub-unit kerja tersebut bertanggung jawab dalam menyusun       of the Director of Operations (Chief Operating Officer).
rencana, melakukan koordinasi pelaksanaan, memantau            These sub-units are responsible for planning, coordinating,
dan mengevaluasi efektivitas kegiatan K3 dan CSR, termasuk     monitoring, and evaluating the effectiveness of OHS and
menyajikan data-data yang diperlukan dalam penyusunan          CSR activities, including providing required data in preparing
laporan keberlanjutan.                                         the sustainability report.

Berikut adalah struktur penanggung jawab aspek                 The structure of the stakeholders that are responsible for
keberlanjutan:                                                 ensuring the sustainability aspect is as follows:




                                               Direktur Operasional
                                              Chief Operating Officer




                     Plant Manager PLP                                           Operation Site Head BAP




           Health Safety            Security & Comdev               Health Safety                 Security and External
         Enviroment (HSE)                                         Enviroment (HSE)                      Relations




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      Sustaining Operational Excellence




      Penilaian Risiko Atas Penerapan Tata Kelola                         Risk Assessment of Sustainable Governance
      Keberlanjutan [OJK E.3]                                             Implementation [OJK E.3]

      Sebagai bagian dari penerapan tata kelola keberlanjutan,            As an effort to implement the sustainable governance, the
      Manajemen memandang penting adanya aktivitas manajemen              Management understands the importance of risk management
      risiko bagi kelangsungan usaha dan pertumbuhan yang                 activities for business continuity and sustainable growth.
      berkesinambungan.

      Sistem manajemen risiko dijalankan sesuai arahan Direksi            The risk management system is carried out in accordance
      dan di bawah pengawasan Dewan Komisaris untuk                       with the direction of the Board of Directors under the
      memastikan pelaksanaan yang efektif, memadai dan sesuai             supervision of the Board of Commissioners to ensure the
      dengan karakteristik, kompleksitas, dan profil risiko Perseroan.    effectiveness and adequateness, in accordance with the
      Fungsi manajemen risiko Perseroan dilaksanakan oleh                 Company’s characteristics, complexity, and risk profile. The
      setiap unit kerja atau departemen masing-masing mulai dari          Company’s risk management function is carried out by each
      pemetaan, mitigasi hingga pengelolaan risiko, dengan CEO            work unit or department, starting from mapping, mitigation
      sebagai penanggung jawabnya.                                        to risk management, accompanied by the CEO as the person
                                                                          in charge.

      Tinjauan Atas Efektivitas Sistem Manajemen                          Evaluation of Risk Management System
      Risiko                                                              Effectiveness

      Sistem manajemen risiko yang dilaksanakan oleh setiap               Afterwards, the risk management system implemented by
      unit kerja selanjutnya akan ditinjau secara berkala setiap          each work unit will be reviewed annually through Performance
      tahun melalui Performance Evaluation dimana analisis                Evaluation, in which the analysis of each risk is presented
      masing-masing risiko akan dipaparkan kepada manajemen.              to management. The evaluation is carried out to ensure
      Pelaksanaan evaluasi tersebut dilakukan untuk memastikan            that the risk management system implemented has been
      sistem manajemen risiko yang diterapkan telah berjalan              running optimally and effectively.
      optimal dan efektif.

      Tantangan Penerapan Tata Kelola                                     Challenges of Sustainable Governance
      Keberlanjutan [OJK E.5]                                             Implementation [OJK E.5]

      Dalam menerapkan tata kelola keberlanjutan yang mencakup            In implementing sustainable governance that includes
      aspek ekonomi, lingkungan, dan sosial, terdapat beberapa            economic, environmental, and social aspects, the Company
      tantangan yang dihadapi oleh Perseroan antara lain:                 deals with a number of challenges, including:


                                                                                                              Inisiatif yang dilakukan
                                                                              Pengaruh terhadap
              Isu Utama                        Tantangan                                                              Perseroan
                                                                                  Perseroan
              Main Issues                      Challenges                                                   Initiatives carried out by the
                                                                            Impact on the Economy
                                                                                                                       Company

       Lingkungan                 Perseroan harus memastikan untuk       Apabila terdapat kebocoran       Perseroan selalu berupaya untuk
       Environment                meminimalisir risiko kerja yang        limbah dan tidak dapat           memenuhi aspek compliance
                                  berdampak pada lingkungan seperti      memenuhi ketentuan yang          terhadap peraturan perundang-
                                  tidak adanya kebocoran limbah          berlaku, maka Perseroan          undangan serta ketentuan yang
                                  sesuai peraturan perundang-            dapat dikenakan denda atau       berlaku yang berkaitan dengan
                                  undangan yang berlaku.                 sanksi.                          lingkungan.

                                  The Company is required                In case of waste leakage         The Company strives to comply
                                  tominimize occupational risks that     and unable to comply with        with the applicable laws and
                                  may have a direct impact on the        the applicable regulations,      regulations related to the
                                  environment, such as the               the Company may becarbon         environment.
                                  prevention of waste leakage in         subject to fines or sanctions.
                                  accordance with the applicable
                                  laws and regulations.



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             KILAS         LAPORAN         PROFIL         ANALISIS DAN                   TATA KELOLA     LAPORAN             LAPORAN
             KINERJA       MANAJEMEN       PERUSAHAAN     PEMBAHASAN MANAJEMEN           PERUSAHAAN      KEBERLANJUTAN       KEUANGAN
             Performance   Management      Company        Management                     Corporate       Sustainability      Financial
             Overview      Report          Profile        Discussion And Analysis        Governance      Report              Report




                                                                                                          Inisiatif yang dilakukan
                                                                        Pengaruh terhadap
         Isu Utama                     Tantangan                                                                  Perseroan
                                                                            Perseroan
         Main Issues                   Challenges                                                       Initiatives carried out by the
                                                                      Impact on the Economy
                                                                                                                   Company

Sosial                     Pada aspek karyawan, Perseroan          Apabila terjadi penurunan          Perseroan melakukan Medical
Social                     harus memastikan seluruh                kualitas kesehatan karyawan,       Check up rutin setiap tahun
                           karyawan dapat terlindungi              maka tingkat produktivitas         secara menyeluruh pada
                           kesehatannya dan tetap dapat            mereka akan menurun yang           karyawan di Head Office
                           bekerja secara produktif.               dapat mengganggu kinerja           maupun di sites (Palembang dan
                                                                   Perseroan.                         Banggai). Perseroan juga
                                                                                                      menyediakan fasilitas medical
                                                                                                      inpatient dan outpatient bagi
                                                                                                      karyawan dan ditinjau berulang
                                                                                                      tiap tahunnya demi selaras
                                                                                                      dengan Kesehatan dan
                                                                                                      kesejahteraan karyawan dan
                                                                                                      keluarga karyawan.

                           In terms of employment, the             In case of poor quality of         The Company conducts routine
                           Company is required to ensure the       employees’ health, their           Medical Check-ups every year
                           employees’ health and safety in         productivity will decrease,        thoroughly for employees at the
                           order to work productively.             affecting the Company's            Head Office and at sites
                                                                   performance.                       (Palembang and Banggai). The
                                                                                                      Company also provides medical
                                                                                                      inpatient and outpatient facilities
                                                                                                      for employees and is reviewed
                                                                                                      annually to be in line with the
                                                                                                      health and welfare of employees
                                                                                                      and employees' families.

Tata Kelola                Perseroan harus memenuhi                Apabila Perseroan tidak            Perseroan memastikan untuk
Governance                 beragam peraturan perundang-            dapat memenuhi peraturan           selalu update dengan beragam
                           undangan yang bergerak dinamis,         yang berlaku, maka                 peraturan perundang-undangan
                           termasuk pembaharuan,                   Perseroan akan                     yang terbaru dan memenuhi
                           amandemen peraturan, maupun             mendapatkan sanksi, teguran        seluruh ketentuan yang berlaku
                           aturan baru yang berkaitan dengan       atau peringatan.                   dari regulator, baik yang
                           sektor bisnisnya dan juga UU PT,                                           berkaitan dengan sektor
                           UU ketenagakerjaan, Pasar Modal                                            bisnisnya maupun yang
                           dari Pemerintah dan regulator (OJK                                         berkaitan dengan Peraturan dan
                           dan IDX).                                                                  UU Pemerintah, serta Pasar
                                                                                                      Modal.

                           The Company must comply with            In case that the Company is        The Company ensures to always
                           various laws and regulations that       unable to comply with the          be updated with the latest laws
                           move dynamically, including             applicable regulations, the        and regulations and meet all
                           updates, amendments to                  Company will receive               applicable regulations from
                           regulations, as well as new rules       sanctions or warnings.             regulators, both related to its
                           related to its business sector as                                          business sector and related to
                           well as the Limited liability company                                      Government Regulations and
                           regulation, Manpower regulation,                                           Laws, as well as the Capital
                           Capital Market from the                                                    Market.
                           Government and regulators (OJK
                           and IDX).




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      Sustaining Operational Excellence




      Pengembangan Kompetensi Terkait Aspek                         Competency Development Of Sustainability
      Keberlanjutan [GRI 2-17][OJK E.2]                             Aspects [GRI 2-17][OJK E.2]

      Dalam rangka meningkatkan pemahaman dan pengembangan          In improving the comprehension and development of
      penerapan keuangan berkelanjutan, Perseroan telah             sustainable finance implementation, the Company facilitates
      memberikan program pelatihan yang berkaitan dengan            training programs in relation to sustainability topics, such
      topik-topik berkelanjutan sebagai berikut:                    as follows:


       Pengembangan Kompetensi terkait Aspek Keberlanjutan Tahun 2023
       Competency Development
                     Penyelenggara                          Keterangan                                  Pelaksanaan
                       Organizer                            Description                                Implementation
       Benefita Indonesia                    Perlindungan Keanekaragaman Hayati        30 Agustus – 1 September 2024
                                             untuk PROPER                              30 August – 1 September 2024
       Benefita Indonesia                    Sertifikasi BNSP Pengendalian             27 Juli 2023
                                             Pencemaran Air                            27 July 2023
       Benefita Indonesia                    Penanggung Jawab Pengendalian             24 – 26 Juli 2023
                                             Pencemaran Air (PPPA)                     24 – 26 July 2023
       Benefita Indonesia                    Efisiensi Air dan Penurunan Beban         2 – 4 Agustus 2023
                                             Pencemaran Air Limbah untuk PROPER        2 – 4 August 2023
       Benefita Indonesia                    Audit Air untuk PROPER                    31 Juli – 2 Agustus 2023
                                                                                       31 July – 2 August 2023
       Benefita Indonesia                    Penanggung Jawab Operasional              24 – 26 Juli 2023
                                             Pengolahan Air Limbah (POPAL)             24 – 26 July 2023
       Benefita Indonesia                    Penerapan CSR ISO 26000 untuk             28 – 29 Agustus 2023
                                             Perusahaan                                28 – 29 August 2023
       LSP Himpunan Ahli Konservasi Energi   Sertifikasi BNSP Manajemen Energi         14 April 2023
                                                                                       14 April 2023
       Benefita Indonesia                    Sertifikasi BNSP Auditor Energi           27 Juli 2023
                                                                                       27 July 2023
       Benefita Indonesia                    Penilaian Daur Hidup (Life Cycle          12 – 15 Juni 2023
                                             Assesment) untuk PROPER                   12 – 15 June 2023
       LSP Lalinsa                           Sertifikasi BNSP Penilaian Siklus Hidup   20 Juni 2023
                                             (Life Cycle Assesment[LCA])               20 June 2023
       Benefita Indonesia                    Sertifikasi BNSP Pengelolaan limbah B3    25 Mei 2023
                                                                                       25 May 2023
       Badan Penanggulangan Bencana Daerah   Pelatihan Dasar Kebencanaan               7 September 2023
       (BPBD)                                                                          7 September 2023




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              KILAS         LAPORAN          PROFIL        ANALISIS DAN                   TATA KELOLA      LAPORAN             LAPORAN
              KINERJA       MANAJEMEN        PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN       KEBERLANJUTAN       KEUANGAN
              Performance   Management       Company       Management                     Corporate        Sustainability      Financial
              Overview      Report           Profile       Discussion And Analysis        Governance       Report              Report




Pelibatan Para Pemangku Kepentingan                                  Stakeholder Engagement
[GRI 2-16, 2-29][OJK E.4]                                            [GRI 2-16, 2-29][OJK E.4]

Dalam laporan ini, Perseroan telah mengidentifikasi 6 (enam)         In this report, the Company has identified 6 (six) main
pemangku kepentingan utama yang terdiri dari pemegang                stakeholders, consists of shareholders, employees, regulators,
saham, karyawan, regulator, masyarakat, pelanggan, dan               public, customers, and business partners. The identification
mitra kerja. Identifikasi tersebut didapatkan dari analisis          was made by analyzing interaction pattern and nature of
pola interaksi dan sifat keterlibatan dengan kegiatan bisnis         engagement with the Company’s business, as well as
Perseroan serta memiliki pengaruh yang signifikan di                 significant impacts occurred throughout 2023. The Company
sepanjang Tahun 2023. Perseroan berkomitmen untuk terus              is committed to engage with each stakeholder through
melibatkan setiap pemangku kepentingan melalui kegiatan              routine communication activities and information transparency,
komunikasi rutin dan transparansi informasi serta kemudahan          as well as ease of access to the Company’s data.
akses atas data-data Perusahaan.

Pelibatan Pemangku Kepentingan                                       Stakeholders Engagement of The Company
Perusahaan

Berikut adalah pelibatan pemangku kepentingan Perseroan              The following details are the involvement of the Company’s
dalam operasional Perusahaan.                                        stakeholders in the Company’s operations.
       Pemangku Kepentingan                                 Metode Pelibatan                                       Frekuensi
           Stakeholders                                   Method of Engagement                                     Frequency
 Pemegang Saham                          -    Rapat Umum Pemegang Saham                                -   Tahunan
 Shareholders                                 General Meeting of Shareholders                              Annually
                                         -    Laporan Tahunan                                          -   Tahunan
                                              Annual Report                                                Annually
                                         -    Laporan Kinerja                                          -   Sebagaimana Diperlukan
                                              Performance Report                                           As Required
                                         -    Paparan Publik                                           -   Tahunan
                                              Public Expose                                                Annually
 Karyawan                                -    Pendidikan dan Pelatihan                                 -   Sebagaimana Diperlukan
 Employees                                    Education and Training                                       As Required
 Regulator                               -    Kepatuhan terhadap peraturan                             -   Sebagaimana
 Regulator                                    Compliance to prevailing regulations                         Dipersyaratkan
                                                                                                           As Required
                                         -    Laporan Tahunan                                          -   Tahunan
                                              Annual Report                                                Annually
 Masyarakat                              -    Kegiatan Tanggungjawab Sosial Perusahaan                 -   Tahunan
 Community                                    Corporate Social Responsibility Activities                   Annually
                                         -    Paparan Publik                                           -   Tahunan
                                              Public Expose                                                Annually
 Pelanggan                               -    Perjanjian Jual Beli                                     -   Sebagaimana Diperlukan
 Customers                                    Sales & Purchase Agreement                                   As Required
 Mitra Kerja                             -    Kontrak dan Perjanjian Kerja Sama                        -   Sebagaimana Diperlukan
 Business Partners                            Contracts and Cooperation Agreement                          As Required
                                         -    Evaluasi Berkala                                         -   Sebagaimana Diperlukan
                                              Periodic Evaluation                                          As Required




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      Sustaining Operational Excellence



      Fokus Memimpin Upaya Indonesia Untuk
      Mewujudkan Industrialisasi Kelas Dunia
      Focus on Leading Indonesia’s Drive to World Class Industrialization

      Perseroan berkomitmen untuk terus memberikan kontribusi       The Company is committed to continuously improving its
      maksimal bagi pertumbuhan kinerjanya utamanya dari aspek      performance in an optimal manner, in terms of the economic
      ekonomi sehingga dapat memberikan nilai lebih kepada          aspect to provide added value to all stakeholders, including
      seluruh pemangku kepentingan termasuk investor, konsumen,     investors, consumers, suppliers, government, employees,
      pemasok, pemerintah, karyawan maupun masyarakat. Upaya        and the community. These efforts are the groundwork of
      tersebut yang melatarbelakangi visi Perseroan agar mampu      the Company’s vision to lead Indonesia’s Drive to World
      memimpin upaya Indonesia untuk mewujudkan industrialisasi     Class Industrialization.
      kelas dunia.

      Topik Material                                                Material Topics
         • Pertumbuhan Kinerja                                         • Performance Growth
         • Nilai Ekonomi                                               • Economic Values
         • Perbandingan Target dan Realisasi Kinerja                   • Comparison of Performance Target and Realization
         • Investasi pada Proyek Ramah Lingkungan                      • Investment on Environmentally-Friendly Projects

      Kontribusi Kami                                               Our Contribution
         • Nilai Ekonomi Didistribusikan di Tahun 2023 Rp270,7         • Economic Value Distributed in 2023 Rp270.7 million
             juta
         • 88,23% Pelibatan Pemasok Lokal dibandingkan                   •   88.23% Involvement of Local Suppliers compared
             11,77% Pemasok Import                                           to 11.77% Imported Suppliers

      PERTUMBUHAN KINERJA                                           PERFORMANCE GROWTH
      Kinerja Keuangan                                              Performance Growth
      Pada Tahun 2023, Perseroan mencatatkan pendapatan             In 2023, the Company recorded a revenue of US$345.0
      sebesar US$345,0 juta atau turun 53% dibandingkan dengan      million or 53% decrease compared to US$731.5 million in
      US$ 731,5 juta pada Tahun 2022. Dari posisi keuangan,         2022. From the financial position, the Company's total
      jumlah aset Perseroan tercatat sebesar US$695,4 juta atau     assets were recorded US$695.4 million or 16% decrease
      turun 16% dibandingkan tahun 2022 sebesar US$831,3 juta.      compared to 2022 of US$831.3 million.

      Tabel Kinerja Keuangan
      Table of Financial Performance
                                                                                                        (dalam Dolar AS / in US$)

                  Keterangan
                                                   2021                           2022                         2023
                  Description
       Pendapatan                                         303.437.230                  731.490.734                 344.961.625
       Revenues
       Laba Bruto                                          110.289.275                   341.162.742                  103.176.937
       Gross Profit
       Laba (Rugi) Sebelum Pajak                           10.094.942                 276.061.020                      61.788.317
       Loss Before Tax
       Jumlah Aset                                        809.293.023                  831.295.165                 695.442.247
       Total Assets
       Jumlah Liabilitas                                   508.511.713                305.931.065                  197.698.606
       Total Liabilities




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            KILAS           LAPORAN      PROFIL        ANALISIS DAN                   TATA KELOLA    LAPORAN             LAPORAN
            KINERJA         MANAJEMEN    PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN       KEUANGAN
            Performance     Management   Company       Management                     Corporate      Sustainability      Financial
            Overview        Report       Profile       Discussion And Analysis        Governance     Report              Report




Perbandingan Target dan Realisasi Kinerja                        Comparison of Target and Performance
[OJK F.2]                                                        Realization [OJKF.2]

Perseroan berkomitmen untuk terus meningkatkan kinerjanya        The Company remains committed to improve its performance
dan mencapai target yang telah ditentukan. Pada Tahun            and achieve the set target. In 2023, overall the Company
2023, secara garis besar Perseroan mencatatkan pertumbuhan       recorded a performance growth compared to last year as
kinerja dibandingkan dengan tahun lalu sebagaimana yang          seen from growth of revenue and profit for the year.
dapat terlihat pada pertumbuhan pendapatan dan pencapaian
laba tahun berjalan.

Selain dari nilai ekonomi dan kinerja keuangan, bisnis yang      In addition to economic value and financial performance,
dijalankan oleh Perseroan juga memberikan nilai tambah           the Company’s business also provides added value to the
pada perekonomian. Perseroan turut berkontribusi secara          economy. The Company actively contributes to selfreliance
aktif dalam swasembada produk nilai tambah gas hilir             in national downstream value-added gas products through
nasional melalui bisnis di bidang energi. Keragaman negara       its business in the energy sector. A wide array of countries
tempatnya beroperasi memberikan banyak peluang untuk             in which the Company operates provides the opportunities
menjadi ujung tombak dan melaksanakan proyek dan                 to be the spearhead while implementing high-value Greenfield
investasi Greenfield bernilai tinggi yang akan memberikan        projects and investments to bring positive impacts on the
dampak positif pada ekonomi, infrastruktur, dan masyarakat       domestic economy, infrastructure, and people. The Company’s
bangsa. Bisnis Perseroan di bidang bahan kimia juga              business in the chemical sector also allows Indonesia to
menempatkan Indonesia sebagai yang terdepan dalam                be the world’s leading Company in the Ammonia production
produksi Amoniak di seluruh dunia dengan teknologi terdepan      equipped by the latest technology.
dalam produksi Amoniak .

Sehingga, kontribusi terbesar Perseroan tidak semata pada        In addition to contributing to the financial aspect, the
aspek finansial semata. Namun aspek kegiatan operasional         Company’s operating activities in various regions drive the
di berbagai daerah telah secara langsung memacu putaran          local economic development. The large number of workers
roda perekonomian. Banyaknya tenaga kerja yang terserap,         absorbed, either directly or indirectly, has reduced
baik langsung maupun tidak langsung telah membantu               unemployment and poverty in the regions.
daerah dalam mengurangi pengangguran dan kemiskinan.

Nilai Ekonomi [GRI 201-1]                                        Economic Value [GRI 201-1]

Pada Tahun 2023, Perseroan membukukan pendapatan                 In 2023, the Company posted revenues of US$345.0 million
sebesar US$345,0 juta sebagai nilai ekonomi yang dihasilkan.     as the resulting economic value. Meanwhile, the total
Sementara jumlah nilai ekonomi yang didistribusikan pada         economic value distributed in 2023 was US$270.7 million,
Tahun 2023 adalah sebesar US$270,7 juta sehingga nilai           so that the economic value held was recorded at US$77.2
ekonomi yang ditahan tercatat sebesar US$77,2 juta.              million.

Tabel Nilai Ekonomi yang Dihasilkan dan Didistribusikan
Table of Generated and Distributed Economic Value
                                                                                                           (dalam Dolar AS / in US$)

            Keterangan
                                                2021                              2022                           2023
            Description

 Nilai Ekonomi yang Dihasilkan
 Generated Economic Value
 Pendapatan                                         303.437.230                      731.490.734                        344.961.625
 Revenues
 Pendapatan bunga bank dan                               132.152                         1.094.066                        2.882.377
 deposito
 Interest Income from banks and
 deposits


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                                                                                                             (dalam Dolar AS / in US$)

                  Keterangan
                                                      2021                         2022                           2023
                  Description

       Jumlah Nilai Ekonomi yang                          303.569.382                  732.584.800                       347.844.002
       Dihasilkan (A)
       Total Generated Economic Value
       Nilai Ekonomi yang Didistribusikan
       Distributed Economic Value
       Beban Pokok Pendapatan                                184.274.061               380.814.530                       229.505.457
       Cost of Revenue
       Biaya Operasional                                     18.432.572                 32,562,634                        16.082.782
       Operating Expenses
       Gaji dan Tunjangan Karyawan                            14.316.364                16,357,828                        22.330.448
       Employee’s Salary and Allowance
       Pembayaran Pajak Penghasilan                           1.982.826                   4,418,606                        2.758.651
       Tax Income Payment
       Jumlah Nilai Ekonomi yang                          219.005.823                  434,153,598                       270.677.338
       Didistribusikan
       Total Distributed Economic Value
       Jumlah Nilai Ekonomi Ditahan                          84.563.559                298.431.202                        77.166.664
       Total Retained Economic Value



      INVESTASI PADA PROYEK ENERGI                                     INVESTMENTS IN RENEWABLE ENERGY
      TERBARUKAN                                                       PROJECTS [OJK F.3]
      Pengembangan Blue Ammonia terus menunjukan kemajuan              The development of Blue Ammonia continuously shows a
      dengan melakukan pengembangan pedoman Emisi Gas                  progress by developing guidelines for Greenhouse Gas
      Rumah Kaca (GRK) untuk perhitungan GRK dari energi               (GHG) Emissions for the calculation of GHG from Ammonia
      produksi Amoniak di Pabrik Amoniak milik Perseroan.              production energy at the Company's Ammonia Plant. This
      Pengembangan tersebut dilakukan dengan dengan                    development was carried out by collaborating with JGC
      menggandeng JGC dan JOGMEC yang dimulai pada                     and JOGMEC which began in November 2022.
      November 2022.



      PELIBATAN PEMASOK LOKAL                                          LOCAL SUPPLIER INVOLVEMENT
                                                                       [GRI 204-1]
      Perseroan berupaya untuk memberikan dampak yang                  The Company strives to provide a positive impact both
      positif baik secara ekonomi dan sosial bagi masyarakat           economically and socially for the surrounding community
      sekitar dengan menggunakan sumber daya lokal dalam               by using local resources, meaning from Indonesia, for
      artian dari Indonesia untuk kegiatan operasional di lokasi       operational activities at significant operational locations,
      operasional yang signifikan yakni di kilang PLP, Pabrik BAP,     namely the PLP refinery, BAP Factory and Head Office. The
      dan Kantor Pusat. Perseroan memastikan proses pengadaan          Company ensures that the procurement process for suppliers
      para pemasok telah sesuai dengan prosedur dan kebijakan          is in accordance with applicable procurement procedures
      pengadaan yang berlaku. Dengan demikian, Perseroan               and policies. In this way, the Company can implement good
      dapat menerapkan praktik pengadaan barang dan jasa yang          and transparent procurement practices for goods and
      baik dan transparan serta berdampak positif pada aspek           services and have a positive impact on economic and social
      ekonomi dan sosial baik bagi keberlanjutan bisnis Perseroan      aspects, both for the sustainability of the Company's business
      maupun bagi masyarakat.                                          and for society.




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            KILAS            LAPORAN      PROFIL           ANALISIS DAN                   TATA KELOLA        LAPORAN                 LAPORAN
            KINERJA          MANAJEMEN    PERUSAHAAN       PEMBAHASAN MANAJEMEN           PERUSAHAAN         KEBERLANJUTAN           KEUANGAN
            Performance      Management   Company          Management                     Corporate          Sustainability          Financial
            Overview         Report       Profile          Discussion And Analysis        Governance         Report                  Report




Pada Tahun 2023, Perseroan mencatatkan persentase                     In 2023, the Company recorded a percentage of procurement
pengadaan barang atau jasa dari pemasok lokal sebanyak                of goods or services from local suppliers of 88.23%, greater
88,23%, lebih besar dari pemasok impor sebesar 11,77%.                than imported suppliers of 11.77%.




  EII & PLP

                                                    2021                                2022                                  2023
      Keterangan              Satuan                                            Jumlah                            Jumlah
      Description              Unit          Jumlah
                                                                  %              Total            %                Total                 %
                                          Total (vendor)
                                                                               (vendor)                          (vendor)
 Supplier Lokal           Supplier                    159             98.1              203         98.5                  185                98.9
 Local Supplier
 Supplier Impor           Supplier                     3               1.9                 3           1.5                    2                  1.1
 Imported Supplier




  PAU & BAP

                                                    2021                                 2022                                 2023
      Keterangan              Satuan
      Description              Unit          Jumlah                            Jumlah                             Jumlah
                                                                  %                               %                                      %
                                              Total                             Total                              Total
 Supplier Lokal           Supplier                  429                84               438            85                452                     84
 Local Supplier
 Supplier Impor           Supplier                    80               16                 77            15                    83                 16
 Imported Supplier




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      Planet: Lingkungan & Keberlanjutan
      Environment & Sustainability [OJK F.4]

      Perseroan berkomitmen untuk selalu mengutamakan aspek              The Company is committed to continuously prioritizing
      lingkungan dan keberlanjutan dalam setiap kegiatan usahanya.       environmental and sustainability aspects in all business
      Perseroan selalu mengedepankan kepatuhan terhadap                  activities. The Company also complies with the applicable
      peraturan perundang-undangan yang berkaitan dengan                 laws and regulations related to environmental aspects.
      aspek lingkungan. Bahkan Perseroan telah mendapatkan               Furthermore, the Company received the “Proper Biru” award
      penghargaan “Proper Biru” dari Kementerian Lingkungan              from the Ministry of Environment and Forestry for the
      Hidup dan Kehutanan atas penerapan sistem pengelolaan              implementation of environmental management system. In
      lingkungan. Selain itu, Perseroan juga telah menerima sertifikat   addition, the Company also received the ISO14001:2015
      ISO 14001:2015 Environmental Management System dari                Environmental Management System certificate from
      TUV-NORD Indonesia guna lebih meningkatkan kesadaran               TUVNORD Indonesia to increase employee awareness of
      karyawan terhadap lingkungan di pabrik atau kilang.                the environment in plants and refineries.

      Selain memastikan penerapan sistem pengelolaan lingkungan          In addition to ensuring the implementation of the environmental
      sesuai dengan ketentuan yang berlaku, Perseroan juga               management system in compliance with the applicable
      secara aktif mendukung upaya pelestarian satwa langka              regulations, the Company also actively supports the
      melalui program Konservasi Burung Maleo.                           conservation of endangered species through the Maleo
                                                                         Bird Conservation program.

      Jumlah biaya terkait upaya pengelolaan lingkungan di Tahun         In 2023, the total cost related to environmental management
      2023 yang dilakukan Perseroan mencakup biaya yang                  efforts carried out by the Company included expenses of
      berkaitan dengan upaya efisiensi energi, pengelolaan limbah,       energy efficiency efforts, waste management, and environment
      dan upaya konservasi lingkungan yaitu sebesar                      conservation efforts, amounted to IDR 920,000,000.-
      Rp920.000.000,-

      Topik Material                                                     Material Topics:
         • Blue Ammonia: Energi Ramah Lingkungan                            • Blue Ammonia: Environmentally Friendly Energy
         • Pemakaian Energi                                                 • Energy Consumption
         • Pemanfaatan Air                                                  • Water Use
         • Emisi dan Gas Buang                                              • Emissions and Exhaust Gas
         • Pengelolaan Limbah                                               • Waste Management
         • Upaya Konservasi Lingkungan                                      • Environment Conservation Efforts
         • Pengaduan Lingkungan Hidup                                       • Complaints of Environmental Aspect

      Kontribusi Kami                                                    Our Contribution
         • Efisiensi Intensitas Energi 0,7% (Amoniak) dan 7,6%              • Efficiency of Energy Intensity 0.7% (Ammonia) and
             (LPG)                                                             7.6% (LPG
         • Pelepasan 325 ekor Burung Maleo dalam Program                    • Release of 325 Maleo Birds in Maleo Bird Conservation
             Konservasi Burung Maleo                                           Program

      BLUE AMMONIA: ENERGI RAMAH                                         BLUE AMMONIA: ENVIRONMENTALLY
      LINGKUNGAN                                                         FRIENDLY ENERGY [OJK F.5]
      Dalam beberapa tahun terakhir, peran Amoniak sebagai               Over the last few years, ammonia plays a significant role
      bahan bakar masa depan telah berkembang pesat karena               as the fuel of the future due to high hydrogen content, zero
      kandungan hidrogennya yang tinggi, nol emisi CO2 pada              CO2 emissions during combustion, and safe logistics delivery.
      saat pembakaran, serta pengiriman logistik yang aman.              The Company seizes this opportunity and realizes its
      Perseroan melihat peluang tersebut dan mewujudkan                  commitment to investing in energy development for a
      komitmennya untuk berinvestasi dalam pengembangan                  sustainable future through the collaboration in developing
      energi untuk masa depan yang berkelanjutan melalui                 blue ammonia production at the ammonia plant in Banggai,
      kerjasama dalam mengembangkan produksi Blue Ammonia                Central Sulawesi. The Banggai ammonia plant is the first
      di pabrik Banggai Sulawesi Tengah. Pabrik Amoniak Banggai          plant in the world to use the latest ammonia technology,
      menjadi pabrik pertama di dunia yang menggunakan teknologi         namely carbon capture utilization and storage (CSSU),


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               KILAS             LAPORAN         PROFIL            ANALISIS DAN                    TATA KELOLA    LAPORAN          LAPORAN
               KINERJA           MANAJEMEN       PERUSAHAAN        PEMBAHASAN MANAJEMEN            PERUSAHAAN     KEBERLANJUTAN    KEUANGAN
               Performance       Management      Company           Management                      Corporate      Sustainability   Financial
               Overview          Report          Profile           Discussion And Analysis         Governance     Report           Report




Amoniak terbaru, yaitu carbon capture utilization and storage                thereby making Indonesia a leading country in ammonia
(CSSU) yang menjadikan Indonesia terdepan dalam produksi                     production. Through blue ammonia, the Company expects
Amoniak. Melalui Blue Ammonia, Perseroan berharap dapat                      to pave the way for Indonesia to be at the forefront in
membuka jalan bagi Indonesia untuk menjadi yang terdepan                     providing the fuel of the future.
dalam menyediakan bahan bakar masa depan.

Sebagai bentuk kontribusi untuk kelancaran transisi energi,                  As part of contribution during energy transition, the Company
Perseroan telah menandatangani Nota Kesepahaman untuk                        has signed a Memorandum of Understanding to measure
melakukan pengukuran emisi Gas Rumah Kaca (GRK) di                           Greenhouse Gas (GHG) emissions at the Company’s Ammonia
pabrik Amoniak Perseroan di Luwuk, Banggai, Sulawesi                         plant in Luwuk, Banggai, Central Sulawesi, Indonesia. This
Tengah, Indonesia. Pengukuran ini akan menjadi penerapan                     measurement will be the first implementation and will be
pertama dan akan digunakan untuk meningkatkan akurasi                        used to improve the accuracy of the GHG Guidelines and
Pedoman GRK dan Intensitas Karbon dari energi transisi                       the Carbon Intensity of the transition energy, which is
yakni Produksi Amoniak.                                                      Ammonia Production.

PEMAKAIAN ENERGI                                                             ENERGY CONSUMPTION
Perseroan menggunakan beberapa jenis energi antara lain                      In carrying out its operating activities, the Company uses
listrik dan bahan bakar minyak (BBM) dalam menjalankan                       various types of energy, including electricity and fuel oil.
kegiatan operasionalnya. Namun Perseroan masih                               Nevertheless, the Company still relies on electricity supply
mengandalkan pasokan energi listrik dari Perusahaan Listrik                  from the State Electricity Company (PLN). The Company’s
Negara. Penggunaan energi Perseroan terdiri dari penggunaan                  energy consumption covers the BAP plant, PLP refinery,
energi pada pabrik BAP, kilang PLP, dan kantor pusat Jakarta                 head office in Jakarta, and PLP office.
dan PLP.

Berikut adalah rincian pemakaian energi kami dalam 3 (tiga)                  The details of energy consumption in the last 3 (three) years
tahun terakhir:                                                              were as follows:

Tabel Penggunaan Energi
Table of Energy Use [GRI 302-1, 302-4][OJK F.6]
                                          BBM                                          Listrik                     Total Penggunaan Energi
        Area                              Fuel                                       Electricity                   Total Energy Consumption
                             Kilo Liter            GJ                       Kwh                     GJ                        (GJ)

 Kilang PLP
 PLP Refinery
 2021                                27,78              1.116,69              4.471.425               16.097,13                     17.213,82
 2022                                28,94              1.163,31              3.414.025              12.290,49                      13.453,80
 2023                                25,98           1.044,33                4.574.768                16.469,16                     17.513,49
 Pabrik BAP
 BAP Plant
 2021                               313,52           11.913,76             94.880.000               341.568,00                     354.108,80
 2022                              298,62            11.347,56             103.840.710              373.826,56                     385.771,33
 2023                              260,60           9.902,80               100.467.290              361.682,24                     371.585,04
 Kantor Pusat (Jakarta)
 Head Office (Jakarta)
 2021                                2.358               94,78                   94.320                  339,55                        434,33
 2022                                 1.816              72,99                  122.450                  440,82                         513,81
 2023                                5.772              231,99               190.805.5                    686,9                        918,89




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                                             BBM                                   Listrik                   Total Penggunaan Energi
                Area                         Fuel                                Electricity                 Total Energy Consumption
                                Kilo Liter          GJ                    Kwh                   GJ                      (GJ)

       Grand Total
       (GJ)
       2021                             2.699        13.752,27             94.978.791          358.004,68                    371.756,95
       2022                             2.144        13.181,08            103.966.574          386.557,87                    399.738,94
       2023                         6.058,58          11.179,12       105.232.863,5             378.838,3                    390.017,42
       Catatan
       Notes
       1. Penggunaan BBM dari kiloliter dikonversi ke Giga joules dengan menggunakan The Greenhouse Gas Protocol
          Initiative, 2004.
          The use of fuel from kiloliters is converted to Giga joules using The Greenhouse Gas Protocol Initiative, 2004.
       2. Penggunaan listrik dari Kwh dikonversi ke Giga joules dengan menggunakan The Greenhouse Gas Protocol Initiative,
          2004.
          Electricity use from Kwh was converted to Giga joules using The Greenhouse Gas Protocol Initiative, 2004


      Total penggunaan energi BBM pada Tahun 2023 adalah                   The total fuel energy consumption in 2023 was recorded
      11.179,12 GJ, mengalami penurunan sebesar 15,19%                     at 11,179.12 GJ, decreased by 15.19% compared with 13,181.08
      dibandingkan dengan Tahun 2022 yakni 13.181,08 GJ.                   GJ in 2022.

      Total penggunaan energi listrik pada Tahun 2023 adalah               The total electrical energy consumption in 2023 was recorded
      378.838,3 GJ, mengalami penurunan sebesar 2,00%                      at 378,838.3 GJ, decreased by 2.00% compared with
      dibandingkan dengan Tahun 2022 yakni 386.557,87 GJ.                  386,557.87 GJ in 2022.

      Sehingga secara keseluruhan total penggunaan energi                  Therefore, the total energy consumption in 2023 was
      pada Tahun 2023 adalah 390.017,5 GJ, mengalami penurunan             recorded at 390,017.5 GJ, decreased by 2.43% compared
      sebesar 2,43% dibandingkan dengan Tahun 2022 yakni                   with 399,738.94 GJ in 2022.
      399.738,94 GJ.

      Intensitas energi Perseroan mengukur besaran energi yang             The Company’s energy intensity measures the amount of
      digunakan untuk menghasilkan Amoniak dan LPG. Pada                   energy used to produce ammonia and LPG. In 2023, the
      Tahun 2023, intensitas energi Amoniak dan LPG masing-                energy intensity of ammonia and LPG was recorded at
      masing sebesar 30,86 GJ/MT dan 51,19 GJ/MT, menurun                  30.86 GJ/MT and 51.19 GJ/MT respectively, decreased
      dibandingkan dengan tahun sebelumnya.                                compared to previous year.

      Tabel Intensitas Energi
      Table of Energy Intensity [GRI 302-3][OJK F.6]
                Intensitas Energi
                                                    2021                                2022                          2023
                 Energy Intensity
       Intensitas Energi Amoniak                                  33,05                              31,07                       30,86
       Ammonia Energy Intensity
       (GJ/MT)
       Intensitas Energi LPG                                      55,98                              55,43                        51,19
       LPG Energi Intensity
       (GJ/MT)




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            KILAS           LAPORAN       PROFIL       ANALISIS DAN                   TATA KELOLA        LAPORAN                 LAPORAN
            KINERJA         MANAJEMEN     PERUSAHAAN   PEMBAHASAN MANAJEMEN           PERUSAHAAN         KEBERLANJUTAN           KEUANGAN
            Performance     Management    Company      Management                     Corporate          Sustainability          Financial
            Overview        Report        Profile      Discussion And Analysis        Governance         Report                  Report




Upaya Efisiensi Energi                                           Energy Efficiency Efforts [OJK F.7]

Sebagai langkah efisiensi untuk mengurangi pemakaian             As an efficiency initiative to reduce the use of energy, both
energi, baik BBM maupun listrik, Perseroan telah melakukan       gas and electricity, the Company has carried out a number
upaya-upaya sebagai berikut dan akan terus dilakukan             of sustainable efforts for years to come:
secara berkelanjutan di tahun-tahun mendatang:
   1. Optimasi mode operasi engine dan STG                           1. Engine and STG operation mode optimization
   2. Penambahan pipa sea water menuju ke trash rake                 2. Addition of sea water pipe to the trash rake from
        dari drain point of sea water                                   the drain point of sea water
   3. Penggunaan lampu sensor cahaya di lingkungan                   3. Use of light sensor lamps in the office and site
        office dan site                                                 environment

PEMANFAATAN AIR                                                  WATER USE [OJK F.8]
Perseroan menggunakan air utamanya pada kantor pusat             The Company mainly uses water at the head office and
dan kantor-kantor pendukung operasional. Air yang digunakan      operational support offices. The water used is provided by
berasal dari air sumur yang penggunaannya disesuaikan            the groundwater whose use is adjusted to the usage limit
dengan ketetapan batas penggunaan yang berlaku.                  in compliance with the applicable regulations.

Pada Tahun 2023, total penggunaan air adalah sebesar             In 2023, the total water utilization was recorded at 6,442.84
6.442,84 m3.                                                     m3.

Tabel Penggunaan Air di Pabrik
Table of Water Use in Plant [GRI 303-5]


                                                                   Jumlah Penggunaan
          Wilayah                                                       Total Use
           Area
                                              2021                                    2022                                2023
 Air PDAM
 PDAM Water (m3)
 PLP                                          225                                      225                                 365
 BAP                                            -                                       -                                   -
 Air Sumur
 Well Water (m3)
 PLP                                         8.649                                    6.581                               5.752
 BAP                                         58.840                                  56.232                                 -
 Kantor Pusat Jakarta                        44,64                                     160                                325,84
 Jakarta Head Office
 Total                                     67.533,64                                 62.973                           6.442,84

                      Wilayah                                                     Jumlah Penggunaan
                   BAP Site Luwuk                                                      Total Use

                    Tahun / Year                           2021                             2022                           2023
 Air product SWRO (m3)                                            923,552                    1,114,668                          1,027,833
 SWRO Product Water (m3 )




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      Efisiensi Penggunaan Air                                       Water Consumption Efficiency

      Keseluruhan pemanfaatan air yang dilakukan oleh Perseroan,     The entire water utilization carried out by the Company,
      baik pengambilan maupun penggunaan, telah mengikuti            both extraction and use, is in compliance with the applicable
      segala ketentuan dan aturan yang berlaku. Pemanfaatan          laws and regulations. Furthermore, the water utilization is
      air dilakukan seefisien mungkin dengan tetap melakukan         carried out in an efficient manner supported by water-saving
      berbagai upaya penghematan. Upaya-upaya yang telah             effort. The efforts taken to save the water consumption
      dilakukan untuk menghemat penggunaan air antara lain           including:
      adalah:
          • Penggantian dari air tanah ke air dari plant (SWRO)             •   Substitution from groundwater to plant water (SWRO)
              untuk penggunaan office, camp, dan Masjid                         for office, camp, and mosque use
          • Menaikkan recovery BWRO dari 75-85 % menjadi                    •   Increase BWRO recovery from 75-85% to up to 87%
              sampai 87% untuk keperluan proses                                 for process purposes
          • Menurunkan venting steam PV-2115 dan                            •   Decrease PV-2115 steam venting and optimize boiler
              mengoptimalkan operasional boiler                                 operation
          • Repair/penggantian steam trap yang bocor untuk                  •   Repair/replacement of leaking steam traps to reduce
              mengurangi steam loss                                             steam loss

      EMISI DAN GAS BUANG                                            EMISSIONS AND EXHAUST GAS
      Pengukuran Emisi                                               Emission Measurement
                                                                     [GRI 305-1, 305-2, 305-4, 305-5] [OJK F.11, F.12]

      Perseroan telah melakukan pengukuran jejak karbon dengan       The Company has calculated its carbon footprint using a
      menggunakan kalkulator karbon untuk menghitung emisi           carbon calculator to calculate greenhouse gas (GHG)
      gas rumah kaca terkait pemakaian listrik dan bahan bakar       emissions related to the electricity and fuel used to support
      untuk kegiatan operasional Perseroan.                          the Company’s operating activities.

      Berikut adalah laporan emisi karbon Perseroan dalam 3          The following is the report on the Company’s carbon emissions
      (tiga) tahun terakhir:                                         for the last 3 (three) years:

      Tabel Emisi GRK yang Dihasilkan
      Table of GHG Emissions Generated

      Palembang LPG Plant (LPG)
      PLP (Gas)

        Emisi GRK yang Dihasilkan          Satuan
                                                                    2021                      2022                   2023
        GHG Emissions Generated             Unit
       Emisi Langsung Cakupan 1                                     23,81                     23,31                  20,57
       Direct Emission Scope 1
       Emisi Tidak Langsung              Ton Co2EQ                    -                         -                      -
       Cakupan 2
       Indirect Emission Scope 2

      Banggai Ammonia Plant (Amoniak)
      BAP (Ammonia)

        Emisi GRK yang Dihasilkan          Satuan
                                                                    2021                      2022                   2023
        GHG Emissions Generated             Unit
       Emisi Langsung Cakupan 1                                    906.232                  1.226.795              1.198.751
       Direct Emission Scope 1
       Emisi Tidak Langsung              Ton Co2EQ                    -                         -                      -
       Cakupan 2
       Indirect Emission Scope 2


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            KILAS             LAPORAN      PROFIL       ANALISIS DAN                   TATA KELOLA    LAPORAN                  LAPORAN
            KINERJA           MANAJEMEN    PERUSAHAAN   PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN            KEUANGAN
            Performance       Management   Company      Management                     Corporate      Sustainability           Financial
            Overview          Report       Profile      Discussion And Analysis        Governance     Report                   Report




Tabel Intensitas Emisi GRK
Table of GHG Emission Intensity
     Sumber Emisi GRK                 Satuan
                                                              2021                        2022                         2023
    GHG Emission Source                Unit
 Intensitas Emisi Amoniak       Ton Co2EQ/MT                   1,61                        1,62                         1,63
 Ammonia Emission Intensity
 Intensitas Emisi LPG           Ton Co2EQ/MT                  0,096                       0,093                        0,089
 LPG Emission Intensity
 Intensitas Emisi Kondensat     Ton Co2EQ/bbl                0,0427                      0,0419                        0,0398
 Condensate Emission
 Intensity

Jumlah emisi GRK per volume produksi adalah indikator             The amount of GHG emissions per production volume is
dalam mengukur intensitas emisi GRK sehingga Perseroan            an indicator to calculate the intensity of GHG emissions so
dapat mengetahui jumlah emisi yang dibuang ke udara.              that the Company know exactly the quantity of emissions
Pada Tahun 2023, intensitas emisi amoniak dan kondensat           released to the atmosphere. In 2023, ammonia and
menurun/meningkat dibandingkan dengan tahun sebelumnya.           condensate emission intensity decreased/increased
Sedangkan intensitas emisi LPG mengalami penurunan.               compared to the previous year. Meanwhile, the emission
                                                                  intensity of LPG decreased.

Upaya Pengelolaan Emisi                                           Emission Management Efforts [OJK F.12]

Perseroan terus berupaya untuk melakukan pengelolaan              The Company continues to carry out the efforts to manage
emisi GRK. Upaya-upaya dalam mengelola emisi antara lain          GHG emissions, namely through the regular sampling or
dilakukan melalui sampling atau pengetesan secara rutin           testing to be reported to the Ministry of Environment and
untuk selanjutnya dilaporkan kepada Kementerian Lingkungan        Forestry, aiming at finding out whether the emissions meet
Hidup (KLH) untuk mendeteksi emisi tersebut telah memenuhi        the standards.
standar atau belum.

Upaya-upaya lain yang akan dilakukan Perseroan dalam              Other efforts that will be made by the Company in reducing
melakukan pengurangan emisi gas konvensional adalah               conventional gas emissions are as follows:
sebagai berikut:
   1. Menerapkan prinsip hirarki pengurangan limbah                   1. Apply the principle of waste reduction hierarchy,
      yaitu memprioritaskan pencegahan pengurangan,                      namely prioritizing prevention of reduction, recycling,
      daur ulang, dan daur pakai.                                        and recycling of use.
   2. Mematuhi seluruh Perundang-undangan dan Peraturan               2. Comply with all Government Laws and Regulations
      Pemerintah yang berkaitan dengan emisi gas                         relating to conventional gas emissions.
      konvensional.
   3. Menyediakan Sumber Daya Manusia (SDM) yang                      3. Providing competent Human Resources (HR) in
      berkompeten dalam melakukan kegiatan penurunan                     carrying out conventional gas emission reduction
      emisi gas konvensional.                                            activities.
   4. Berupaya melakukan pengurangan emisi gas                        4. Strive to reduce conventional gas emissions by
      konvensional dengan cara mengutamakan                              prioritizing the use of environmentally friendly fuels
      penggunaan bahan bakar ramah lingkungan dan                        and the application of clean production.
      penerapan produksi bersih.
   5. Berkontribusi terhadap capaian Sustainable                      5. Contribute to the achievement of Sustainable
      Development Goal’s (SDG’s) nomor 14 terkait                        Development Goal's (SDG's) number 14 related to
      penanganan perubahan iklim.                                        handling climate change.
   6. Berkontribusi terhadap capaian Rencana                          6. Contribute to the achievement of the National Medium-
      Pembangunan Jangka Menengah Nasional (RPJMN)                       Term Development Plan (RPJMN) for 2020-2024.
      tahun 2020-2024.
   7. Melakukan Analisa Pengurangan Pencemaran Udara                  7. Conducting Conventional Air Pollution Reduction
      Konvensional yang berbasis Life Cycle Assessment                   Analysis based on Life Cycle Assessment (LCA),
      (LCA),

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      Dalam upayanya untuk menerapkan kegiatan tersebut,              In its efforts to implement these activities, the Company will
      maka Perseroan akan menuangkan rencana strategis, tujuan,       prepare an adequate strategic plan, goals, objectives,
      sasaran, penanggung jawab, anggaran dan jadwal kegiatan         person in charge, budget and activity schedule.
      yang memadai.

      PENGELOLAAN LIMBAH                                              WASTE MANAGEMENT
      Jumlah Limbah                                                   Total Waste
                                                                      [GRI 306-1, 306-2, 306-3][OJK F.13]

      Kegiatan operasional produksi yang dilakukan oleh Perseroan     The Company’s production activities use the raw materials
      melibatkan bahan baku yang menghasilkan limbah sehingga         that produce waste, thereby posing environmental risks
      memiliki dampak terhadap lingkungan dan memerlukan              and requiring a special management. The Company ensures
      pengelolaan secara khusus. Perseroan memastikan bahwa           that waste management carried out is in accordance with
      pengelolaan limbah telah seuai dengan ketentuan peraturan       applicable regulations.
      yang berlaku.

      LPG
      Kategori Limbah Berdasarkan Bentuk
      Waste Category Based on Form (Ton)

         Kategori Limbah            Jenis              Pengelolaan
                                                                                  2021               2022               2023
         Waste Category             Type               Management

       B3                   Oli Bekas             Disimpan di TPS LB3             20,8                 25                48,9
                            Used OIl              dan diserahkan ke
                                                  vendor berizin
                                                  Kept at LB3 lay stall
                                                  and handed over to
                                                  licensed vendor
                            Majun Bekas           Disimpan di TPS LB3             0,71                1,35               1,40
                            Used Cloth            dan diserahkan ke
                                                  vendor berizin
                                                  Kept at LB3 lay stall
                                                  and handed over to
                                                  licensed vendor
                            Filter Bekas          Disimpan di TPS LB3            0,677                0,79               0,84
                            Used Filter           dan diserahkan ke
                                                  vendor berizin
                                                  Kept at LB3 lay stall
                                                  and handed over to
                                                  licensed vendor
                            Kemasan Bekas B3      Disimpan di TPS LB3             2,93                0,35               2,88
                            Used Hazardous        dan diserahkan ke
                            Packaging             vendor berizin
                                                  Kept at LB3 lay stall
                                                  and handed over to
                                                  licensed vendor
                            Kemasan B3 Ethyl      Disimpan di TPS LB3              0                  0,22               0,11
                            Merkaptan             dan diserahkan ke
                            Packaging B3 Ethyl    vendor berizin
                            Mercaptan             Kept at LB3 lay stall
                                                  and handed over to
                                                  licensed vendor




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           KILAS             LAPORAN        PROFIL         ANALISIS DAN                      TATA KELOLA    LAPORAN             LAPORAN
           KINERJA           MANAJEMEN      PERUSAHAAN     PEMBAHASAN MANAJEMEN              PERUSAHAAN     KEBERLANJUTAN       KEUANGAN
           Performance       Management     Company        Management                        Corporate      Sustainability      Financial
           Overview          Report         Profile        Discussion And Analysis           Governance     Report              Report




  Kategori Limbah                Jenis                Pengelolaan
                                                                                     2021                  2022                 2023
  Waste Category                 Type                 Management

                         Lampu TL Bekas        Disimpan di TPS LB3                   0,007                 1 drum               0,018
                         Used TL Lamp          dan diserahkan ke
                                               vendor berizin
                                               Kept at LB3 lay stall
                                               and handed over to
                                               licensed vendor
                         Battery Bekas         Disimpan di TPS LB3                    0,4                   1 lot               0,29
                         Used Battery          dan diserahkan ke
                                               vendor berizin
                                               Kept at LB3 lay stall
                                               and handed over to
                                               licensed vendor



Rincian Pengelolaan Limbah LPG Tahun 2023
Details of LPG Waste Management in 2023
 Kategori Limbah                    Jenis                      Pengelolaan                                   Pengelolaan
 Waste Category                     Type                     Waste Management                              Waste Management

LB3                  Oli Bekas                        Disimpan di TPS LB3              0         Diserahkan ke vendor berizin       48.9
                     Used OIl                         Kept at LB3 lay stall                      Handed over to licensed
                                                                                                 vendor
                     Majun Bekas                      Disimpan di TPS LB3             0.08       Diserahkan ke vendor berizin       1.32
                     Used Cloth                       Kept at LB3 lay stall                      Handed over to licensed
                                                                                                 vendor
                     Filter Bekas                     Disimpan di TPS LB3              0.1       Diserahkan ke vendor berizin       0.83
                     Used Filter                      Kept at LB3 lay stall                      Handed over to licensed
                                                                                                 vendor
                     Kemasan Bekas B3                 Disimpan di TPS LB3              0         Diserahkan ke vendor berizin       2.88
                     Used Hazardous Packaging         Kept at LB3 lay stall                      Handed over to licensed
                                                                                                 vendor
                     Kemasan B3 Ethyl Mercaptan       Disimpan di TPS LB3             0.11       Diserahkan ke vendor berizin           0
                     Packaging B3 Ethyl               Kept at LB3 lay stall                      Handed over to licensed
                     Mercaptan                                                                   vendor

                     Lampu TL Bekas                   Disimpan di TPS LB3              0         Diserahkan ke vendor berizin      0.018
                     Used TL Lamp                     Kept at LB3 lay stall                      Handed over to licensed
                                                                                                 vendor
                     Battery Bekas                    Disimpan di TPS LB3              0         Diserahkan ke vendor berizin       0.29
                     Used Battery                     Kept at LB3 lay stall                      Handed over to licensed
                                                                                                 vendor
*Kategori Limbah Berdasarkan Bentuk (Ton)
 Waste Category Based on Form (Tons)




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      AMONIAK
      AMMONIA
      Kategori Limbah Berdasarkan Bentuk
      Waste Category Based on Form


        Kategori Limbah           Jenis              Pengelolaan
                                                                                2021                 2022                 2023
        Waste Category            Type               Management

      Cair                 Limbah Domestik        Fisik & Kimia:          Rata-rata|Average:   Rata-rata|Average:   Rata-rata|Average:
      Liquid               (black water & grey    Sewage Treatment        17 m3/hari (day)     87,89 m3/hari        28,09 m3/hari
                           water)                 Plant (STP)             BM: 20 m3/hari       (day)                (day)
                           Domestic Waste         Physical &              (day)                BM: 20 m3/ jam       BM: 20 m3/ jam
                           (black water & grey    Chemical: Sewage                             (480 m3/day)         (480 m3/day)
                           water)                 Treatment Plant
                                                  (STP)
                           Limbah Cooling         Fisik: Sea water        Rata-rata|Average:   Rata-rata|Average:   Rata-rata|Average:
                           Water, UF Reject &     Outfall (SWO)           450,809 m3/hari      511.847,5 m3/ hari   489.334 m3/hari
                           RO Reject              Physical: Sea water     (day)                (day)                (day)
                           Cooling Water, UF      Outfall (SWO)           BM: 528,766 m3/      BM: 528.766 m3/      BM: 528.766 m3/
                           Reject & RO Reject                             hari (day)           hari (day)           hari (day)
                           Waste

                           Limbah Industri        Fisik & Kimia: Oil      Rata-rata|Average:   Rata-rata|Average:   Rata-rata|Average:
                           Amoniak                separator,              0,4 m3/ton           0,3 m3/ton           0,21 m3/ton
                           Ammonia Industrial     Neutralization Pond,    BM:15 m3/hari        BM:15 m3/ton         BM:15 m3/ton
                           Waste                  Condensate              (day)                (day)                (day)
                                                  stripper, Aerator,
                                                  Final Check Basin
                                                  (FCB)
                                                  Physical &
                                                  Chemical: Oil
                                                  separator,
                                                  Neutralization Pond,
                                                  Condensate
                                                  stripper, Aerator,
                                                  Final Check Basin
                                                  (FCB)
      B3                   Kemasan Bekas B3       Insinerasi                  31,201 Ton          25,069 Ton           15,603 Ton
      Hazardous            (B104d)                (oleh pihak ketiga
                           Used B3 Packaging      berizin)
                           (B104d)                Incineration (by
                                                  licensed third party)
                           Endapan kapur          Insinerasi                    0 Ton             59,831 Ton            51,521 Ton
                           proses klorinasi       (oleh pihak ketiga
                           (A302-6)               berizin)
                           Lime precipitate       Incineration (by
                           chlorination process   licensed third party)
                           (A302-6)

                           Oli Bekas (B105d0)     Dimanfaatkan untuk         15,430 Ton           34,226 Ton           28,307 Ton
                           Used Oil (B105d0)      substitusi bahan
                                                  baku (oleh pihak
                                                  ketiga berizin)
                                                  Used for raw
                                                  material substitution
                                                  (by licensed third
                                                  party)




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          KILAS                 LAPORAN        PROFIL       ANALISIS DAN                   TATA KELOLA    LAPORAN             LAPORAN
          KINERJA               MANAJEMEN      PERUSAHAAN   PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN       KEUANGAN
          Performance           Management     Company      Management                     Corporate      Sustainability      Financial
          Overview              Report         Profile      Discussion And Analysis        Governance     Report              Report




  Kategori Limbah                 Jenis             Pengelolaan
                                                                                2021                    2022                 2023
  Waste Category                  Type              Management

                        Limbah elektronik        Solidifikasi/                    0                  1,66 Ton              2,152 Ton
                        termasuk cathode         stabilisasi
                        ray tube (CRT),          (oleh pihak ketiga
                        lampu TL (B107d)         berizin)
                        Electronic waste,        Solidification/
                        including cathode        stabilization (by
                        ray tube (CRT), TL       licensed third party)
                        lamp (B107d)
                        Sampah                   Insinerasi                 276,547 Ton             41,082 Ton             13,993 Ton
                        terkontaminasi B3        (oleh pihak ketiga
                        (A108d)                  berizin)
                        Hazardous-               Incineration (by
                        Contaminated Waste       licensed third party)
                        (A108d)
                        Baterai (A102d)          Insinerasi                     0 Ton               0,468 ton              0,004 Ton
                        Battery (A102d)          (oleh pihak ketiga
                                                 berizin)
                                                 Incineration (by
                                                 licensed third party)
                        Bahan Kimia              Insinerasi                     0 Ton               45,156 Ton             0,05 Ton
                        Kadaluarsa (A338-1)      (oleh pihak ketiga
                        Expired Chemical         berizin)
                        Material (A338-1)        Incineration (by
                                                 licensed third party)
                        Kain Majun Bekas         Insinerasi                     0 Ton               0,999 Ton              0,667 Ton
                        dan Sejenisnya           (oleh pihak ketiga
                        (B110d)                  berizin)
                        Used Cloth and           Incineration (by
                        Similar Type (B110d)     licensed third party)
                        Refractory Waste         Insinerasi                     0 Ton               1,443 Ton                0 Ton
                        (B417)                   (oleh pihak ketiga
                                                 berizin)
                                                 Incineration (by
                                                 licensed third party)
Non-B3                  Organik                  Segregasi ke TPA            31,542 Ton            49,386 Ton               299 Ton
Non-hazardous           Organic                  Segregation to
                                                 Landfill
                        Anorganik                Segregasi ke TPA           207,025 Ton            295,907 Ton             2,346 Ton
                        Inorganic                Segregation to
                                                 Landfill
                        Daur Ulang               Segregasi ke                8,636 Ton              0,091 Ton                0 Ton
                        Recycle                  Masyarakat
                                                 Segregation to
                                                 Public
                        Inert                    Segregasi ke TPA /          5,227 Ton              19,444 Ton              290 Ton
                                                 Masyarakat
                                                 Segregation to
                                                 Landfill / Public




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      Upaya Pengelolaan Limbah                                      Waste Management Efforts [OJKF.13]

      Mekanisme pengelolaan limbah cair, B3 dan Non-B3 yang         The mechanism for managing liquid waste, hazardous
      telah dilakukan oleh Perseroan adalah sebagai berikut:        waste, and non-hazardous waste carried out by the Company
                                                                    is as follows:

      Limbah B3                                                     Hazardous Waste
         1. Limbah B3 yang dihasilkan dari kegiatan operasional        1. The hazardous waste generated from operating
            plant dikumpulkan pada wadah yang telah disediakan            activities at the plants is collected in the special
                                                                          container.
         2. Limbah B3 kemudian disimpan di dalam Tempat                2. The hazardous waste is then accumulated in a
            Penyimpanan Sementara (TPS) Limbah B3 yang                    temporary shelter for hazardous waste with a permit
            memiliki izin dari instansi pemerintah terkait sesuai         from the relevant government agency in accordance
            dengan batas waktu penyimpanan yang diatur                    with the storage time limit regulated by the government
            Peraturan pemerintah                                          regulations.
         3. Limbah B3 yang telah memasuki batas waktu                  3. When the storage time limit is due, the accumulating
            penyimpanan diserahkan kepada vendor yang                     hazardous waste is submitted to a vendor who has
            memiliki izin dari Kementerian Lingkungan Hidup               a permit from the Ministry of the Environment and
            untuk selanjutnya diolah atau dikumpulkan atau                Forestry to be processed, accumulated or destroyed.
            dimusnahkan.

      Limbah Cair dan Limbah Non-B3                                 Liquid Waste and Non-hazardous Waste
      Pengelolaan limbah cair dan limbah non-B3 ditangani oleh      The liquid and non-hazardous waste management are
      vendor yang telah ditunjuk dan memiliki keahlian spesifik     handled by appointed vendor with specific skills to manage
      dalam mengelola limbah serta telah memiliki izin dan di       waste, and are legally authorized under the surveillance
      bawah pengawasan Kementerian Lingkungan Hidup dan             of Ministry of Environment and Forestry.
      Kehutanan.




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            KILAS            LAPORAN         PROFIL        ANALISIS DAN                   TATA KELOLA     LAPORAN          LAPORAN
            KINERJA          MANAJEMEN       PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN      KEBERLANJUTAN    KEUANGAN
            Performance      Management      Company       Management                     Corporate       Sustainability   Financial
            Overview         Report          Profile       Discussion And Analysis        Governance      Report           Report




TUMPAHAN                                                              SPILLS [OJK F.15]

Pada Tahun 2023, tidak terdapat tumpahan bahan kimia                  In 2023, there was no report of any spills of chemicals and
dan bahan berbahaya lainnya yang dapat berpotensi                     other hazardous materials that could potentially affect soil,
mempengaruhi tanah, air, udara, keanekaragaman hayati,                water, air, biodiversity, and people’s health.
dan kesehatan manusia.

UPAYA KONSERVASI LINGKUNGAN                                           ENVIRONMENT CONSERVATION
                                                                      EFFORTS
Dampak Operasional Terhadap Lingkungan                                Operational Impact To Environment [OJK F.9]

Perseroan telah memetakan dampak kegiatan operasionalnya              The Company mapped the operational impact on the
terhadap lingkungan. Pada Tahun 2023, dampak operasional              environment. In 2023, the Company’s operational impacts
Perseroan terhadap lingkungan yang teridentifikasi adalah             on the environment were as follows:
sebagai berikut:


                 Dampak                                   Sumber Dampak                                 Strategi Penanganan
                  Impact                                  Source of Impact                              Management Strategy
 Penurunan kualitas udara, berupa            Kegiatan operasional pabrik                     Mengukur emisi yang dihasilkan secara
 peningkatan kadar debu dan polusi pada      Plant operational activities                    berkala
 udara ambien                                                                                Measuring emission regularly
 Reduce of air quality through the
 increasing level of dust and pollution in
 ambient air
 Wilayah kegiatan operasional Perseroan      Kegiatan operasional                            Menginisiasi Program Konservasi Burung
 dekat dengan ekosistem Burung Maleo                                                         Maleo
 The Company’s operational activity area     Operational activities                          Initiating Maleo Bird Conservation
 close to the Maleo Bird ecosystem                                                           Program



Upaya Konservasi Keanekaragaman Hayati                                Biodiversity Conservation Efforts [GRI 304-3]
                                                                      [OJK F.10]

Sebagai bentuk kepedulian Perseroan terhadap                          As a form of the Company’s concern for the biodiversity in
keanekaragaman flora dan fauna di sekitar wilayah Perseroan,          the operational area of the Company, the Company initiated
maka Perseroan menginisiasi Program Konservasi Burung                 the Maleo Bird Conservation Program through PAU. Maleo
Maleo yang dilakukan melalui PAU. Burung Maleo                        bird (Macrocephalon Maleo) is one of the endemic birds in
(Macrocephalon Maleo) merupakan salah satu burung                     lowland tropical forests of Sulawesi Island, such as Gorontalo
endemik di hutan tropis dataran rendah pulau Sulawesi                 (Bone Bolango and Pohuwato) and Central Sulawesi (Sigi
seperti di Gorontalo (Bone Bolango dan Pohuwato) dan                  and Banggai). Apart from being endemic animals, Maleo
Sulawesi Tengah (Sigi dan Banggai). Selain sebagai satwa              birds are classified as rare and protected since 1990 according
endemik, Burung Maleo tergolong langka dan dilindungi                 to the Decree No. Kep.188.44/1067/RO/BKLH dated 24
sejak Tahun 1990 berdasarkan SK. No. Kep.188.44/1067/                 February 1990. Maleo birds are designated as the “Mascot
RO/BKLH tanggal 24 Februari 1990. Burung Maleo ditetapkan             Animal” of Central Sulawesi Province, and as a result of
sebagai “Satwa Maskot” Provinsi Sulawesi Tengah dan dari              conservation program conducted by PAU, a total of 325
hasil program konservasi yang dilakukan oleh PAU, total               birds were released (11% of the population to Bakiriang
burung telah berhasil dilepaskan hingga akhir Tahun 2023              Wildlife Reserve, Central Sulawesi) as of the end of 2023.
sebanyak 325 burung (11% dari populasi ke Suaka Margasatwa
Bakiriang, Sulawesi Tengah).




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      PENGADUAN LINGKUNGAN HIDUP                                 COMPLAINT ON ENVIRONMENT
                                                                 [GRI 2-16, 2-26][OJK F.16]

      Perseroan senantiasa menyambut dengan baik dan terbuka     The Company gladly receives any proposals, inputs,
      atas usulan, masukan termasuk pengaduan dari masyarakat    complaints from the public related to the environmental
      utamanya yang berkaitan dengan lingkungan hidup. Seluruh   issues. All proposals, suggestions, and complaints can be
      usulan, saran maupun pengaduan dapat dilakukan melalui     sent to the following address:
      alamat berikut:

             PT ESSA Industries Indonesia Tbk.
             DBS Bank Tower 18th Floor
             Ciputra World 1 Jakarta
             Jl. Prof. Dr. Satrio Kav. 3-5
             Jakarta 12940, Indonesia
             T. : +62 21 2988 5600
             F. : +62 21 2988 5601
             corpsec.eii@essa.id

      Sepanjang Tahun 2023, Perseroan tidak pernah menerima      Throughout 2023, the Company did not receive any reports
      laporan dan pengaduan dari masyarakat terkait lingkungan   and complaints from the communities concerning to the
      hidup.                                                     environment.




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            KILAS          LAPORAN       PROFIL        ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
            KINERJA        MANAJEMEN     PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
            Performance    Management    Company       Management                     Corporate      Sustainability    Financial
            Overview       Report        Profile       Discussion And Analysis        Governance     Report            Report




People: Aspek Ketenagakerjaan &
Pengembangan Masyarakat
Employment & Community Development Aspect
Perseroan selalu berkomitmen untuk menciptakan hubungan          The Company is fully committed to creating long-term
jangka panjang yang saling menguntungkan bagi seluruh            mutually beneficial relationships with all stakeholders,
pemangku kepentingan termasuk SDM dan masyarakat.                including human capital and the community. The Company
Perseroan memastikan pemenuhan hak seluruh karyawan              ensures the fulfillment of employees’ rights and the
dan juga penerapan program pengembangan kompetensi               implementation of competency development programs in
agar SDM yang dimiliki memiliki daya saing tinggi sehingga       order to nurture highly competitive human capital that can
dapat mengimbangi perkembangan bisnis yang dinamis.              keep pace with rapid changes in the business development.
Selain itu, Perseroan juga berupaya untuk memberikan             Moreover, the Company continue to provide benefits to the
manfaat atas kehadirannya bagi masyarakat yang berada            local community around its operational areas through a
di sekitar wilayah operasional melalui beragam kegiatan          number of social activities.
sosial.

Topik Material                                                   Material Topic
   • Aspek Ketenagakerjaan                                          • Employment Aspect
   • Pengembangan Masyarakat                                        • Community Development

Kontribusi Kami                                                  Our Contribution
   • 6,07 jam pelatihan/karyawan                                    • 6.07 training hours/employee
   • 96 program pengembangan kompetensi SDM                         • 96 HR competency development programs
   • 15 program kegiatan tanggung jawab sosial                      • 15 corporate social responsibility in 2023
       perusahaan di tahun 2023



ASPEK KETENAGAKERJAAN                                            EMPLOYMENT ASPECT
Kesetaraan Kesempatan Bekerja                                    Equity In Work Opportunities
                                                                 [GRI 406-1][OJK F.18]

ESSA berkomitmen untuk menghargai keberagaman dan                ESSA is committed in respecting diversity and equity,
kesetaraan serta menentang adanya diskriminasi suku,             regardless of ethnicity, religion, gender, social class, and
keturunan, agama, jenis kelamin, golongan dan bentuk fisik.      physical form. Therefore, the Company ensures the equal
Untuk itu, Perseroan memastikan untuk memberikan                 employment opportunities for all prospective employees,
kesetaraan dalam kesempatan bekerja kepada seluruh               starting from the recruitment process, career promotion to
karyawannya mulai dari proses rekrutmen, promosi karir           competency development program.
hingga program pengembangan kompetensi.

Perseroan terus berupaya membangun lingkungan kerja              The Company continues to strive to build a conducive work
yang kondusif dengan selalu mengedepankan penghormatan           environment by always prioritizing respect for Human Rights
terhadap Hak Asasi Manusia (HAM) dimana setiap orang             (HAM) where everyone has the right to equality and equal
berhak untuk mendapatkan kesetaraan dan kesempatan               opportunities in accordance with Law no. 13 of 2003
yang sama sesuai dengan Undang-Undang No. 13 Tahun               concerning Employment which is in line with Law no. 21 of
2003 tentang Ketenagakerjaan yang selaras dengan Undang-         1999 concerning Ratification of ILO Convention No. 111
Undang No. 21 Tahun 1999 tentang Pengesahan ILO                  concerning Discrimination in Respect of Employment and
Convention No. 111 concerning Discrimination in Respect of       Occupation (ILO Convention Concerning Discrimination in
Employment and Occupation (Konvensi ILO Mengenai                 Employment and Occupation) as well as Guidelines for
Diskriminasi dalam Pekerjaan dan Jabatan) serta Panduan          Equality and Non-Discrimination in the Workplace in Indonesia
Kesetaraan dan Non Diskriminasi di Tempat Kerja di Indonesia     (Ministry of Manpower and Transmigration of the Republic
(Kementerian Tenaga Kerja dan Transmigrasi RI). Oleh sebab       of Indonesia). Therefore, the Company strongly opposes
itu, Perseroan menentang keras praktik diskriminasi dalam        discriminatory practices in HR management.
pengelolaan SDM.



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      Hingga akhir Tahun 2023, tidak terdapat kasus diskriminasi         Until the end of 2023, there were no discrimination cases
      yang terjadi di Perseroan.                                         occurred in the Company.

      Dalam proses rekrutmen, Perseroan menjamin rekrutmen               In recruitment process, the Company guarantees that
      dilakukan secara adir dan terbuka berdasarkan kualifikasi          recruitment is carried out in fair and transparent manner,
      yang dibutuhkan tanpa adanya diskriminasi. Perseroan juga          based on requested qualifications without any form of
      senantiasa membuka kesempatan kepada tenaga kerja lokal            discrimination. The Company also opens any opportunities
      yang memenuhi kualifikasi dalam proses rekrutmen. Perseroan        to local labors who fulfills the qualifications in recruitment
      memiliki program pengembangan karir dan senantiasa                 process. The Company has a career development program
      mendorong seluruh karyawan untuk dapat meningkatkan                and continues to drive all employees in improving their
      produktivitas dan kinerjanya sehingga dapat memperoleh             productivity and performance in order to achieve promotion.
      promosi. Program tersebut terbuka bagi seluruh karyawan            The program is available to all employees without
      tanpa adanya diskriminasi. Salah satu upaya untuk meningkatkan     discrimination. One of the efforts to increase employee
      produktivitas karyawan adalah dengan memberikan program            productivity is by providing the required competency
      pengembangan kompetensi yang dibutuhkan. Untuk itu,                development program. Hence, the Company prepares a
      Perseroan juga memiliki beragam program pengembangan               variety of competency development programs for all
      kompetensi setiap tahunnya bagi seluruh karyawan.                  employees.

      Perseroan belum melakukan recruitment yang dirancang               The Company has not conducted recruitment specifically
      khusus untuk wanita, suku tertentu, ataupun difabel. Namun         designed for women, certain ethnicities, or people with
      Perseroan telah melakukan recruitment khusus untuk local           disabilities. However, the Company has conducted special
      talent di Luwuk, Banggai, Indonesia.                               recruitment for local talents in Luwuk, Banggai, Indonesia.


                    Jenis Rekrutmen                          Jenis Rekrutmen                             Jenis Rekrutmen
          No                                Total   No                                Total      No                             Total
                    Recruitment Type                         Recruitment Type                            Recruitment Type

           1       Usia Kelompok | Group Age         1     Usia Kelompok | Group Age              1    Usia Kelompok | Group Age

                   20 - 35 tahun / years     32            20 - 35 tahun / years       37              20 - 35 tahun / years     22

                   35 - 45 tahun / years     14            35 - 45 tahun / years       22              35 - 45 tahun / years     21

                   45 - 50 tahun / years     10            45 - 50 tahun / years       12              45 - 50 tahun / years     11

                   >50 tahun / years         0             >50 tahun / years           0               >50 tahun / years         0
           2       Jenis kelamin | Gender           2      Jenis kelamin | Gender                2     Jenis kelamin | Gender
                   Perempuan / Female                      Perempuan / Female           1              Perempuan / Female        4

                   Pria / Male               45            Pria / Male                 51              Pria / Male               35

                   Pria / Perempuan          11            Pria / Perempuan            19              Pria / Perempuan          15
                   Male / Female                           Male / Female                               Male / Female
           3       Penempatan | Placement           3      Penempatan | Placement                3     Penempatan | Placement
                   Head Office Jakarta       8             Head Office Jakarta         20              Head Office Jakarta       18


                   Site Plant Luwuk          48            Site Plant Luwuk            51              Site Plant Luwuk          36



      Selain melakukan rekrutmen, Perseroan juga mencatatkan             Apart from recruiting, the Company also records employees
      karyawan yang berhenti bekerja. Pada Tahun 2023, Perseroan         who have stopped working. In 2023, EII PLP recorded an
      mencatat tingkat turnover karyawan EII PLP sebesar 6,4%,           employee turnover rate of 6.4%, this value is than the
      nilai ini lebih rendah dari tahun sebelumnya. Sedangkan            previous year. Meanwhile PAU BAP recorded an employee
      Tingkat turnover karyawan PAU BAP sebesar 5,4%, nilai ini          turnover rate of 5.4%, this value is than the previous year.
      lebih rendah dari tahun sebelumnya. [GRI 401-1]                    [GRI 401-1]


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            KILAS          LAPORAN        PROFIL        ANALISIS DAN                     TATA KELOLA   LAPORAN            LAPORAN
            KINERJA        MANAJEMEN      PERUSAHAAN    PEMBAHASAN MANAJEMEN             PERUSAHAAN    KEBERLANJUTAN      KEUANGAN
            Performance    Management     Company       Management                       Corporate     Sustainability     Financial
            Overview       Report         Profile       Discussion And Analysis          Governance    Report             Report




Tabel Turnover Karyawan EII PLP
Table EII PLP Employee Turnover
            Tahun
                                            2021                                  2022                             2023
             Year
 Jumlah                                                     18                                    7                                   7
 Total
 (%)                                                    16.5%                                    7%                             6.4%


Tabel Turnover Karyawan PAU BAP
Table PAU BAP Employee Turnover
            Tahun
                                            2021                                  2022                             2023
             Year
 Jumlah                                                    25                                    28                                   18
 Total
 (%)                                                     8.2%                                  8.6%                             5.4%


Kebebasan Berserikat                                              Freedom Of Association

Perseroan memastikan setiap karyawan memiliki kebebasan           The company ensures that every employee has the freedom
untuk berserikat. Hal ini terlihat dari Piagam Good Corporate     to associate. This can be seen from The Company's Good
Governance Perseroan.                                             Corporate Governance Charter.

Informasi Tenaga Kerja                                            Employment Information
                                                                  [GRI 2-30, 409-1][OJK F.19]

Perseroan selalu mengutamakan aspek compliance terhadap           In carrying out its operations, the Company complies with
peraturan perundang-undangan yang berlaku termasuk                the applicable laws and regulations related to the employment.
yang berkaitan dengan tenaga kerja. Untuk itu, Perusahaan         Thus, the Company ensures to not employ any child and
memastikan bahwa tidak ada tenaga kerja anak dan tenaga           forced labors, as well as no operational activities has
kerja paksa yang berkerja di Perseroan serta tidak terdapat       significant risk to child and forced labors.
kegiatan operasional yang memiliki risiko signifikan terhadap
tenaga kerja anak dan tenaga kerja paksa.

Perseroan mempertegas dan memperjelas hak dan kewajiban           The Company emphasizes and clarifies the rights and
antara Perseroan dan karyawan serta menetapkan secara             obligations between the Company and employees and
bersama terkait syarat-syarat kerja yang belum diatur dalam       jointly determines work conditions that are not yet regulated
peraturan perundang-undangan ketenagakerjaan di dalam             in labor laws and regulations in the Collective Labor
Perjanjian Kerja Bersama (PKB) untuk mendorong terciptanya        Agreement (PKB) to encourage the creation of harmonious,
hubungan industrial yang harmonis, dinamis, dan adil.             dynamic and fair industrial relations.

Upah Minimum Regional                                             Regional Minimum Wage [OJK F.20]

Perseroan juga menjaga kepatuhan terhadap Peraturan               The Company continuously complies with the Manpower
Ketenagakerjaan dipenuhi Perseroan melalui Peraturan              Regulations through the Company Regulations that are
Perusahaan yang dibuat dan diberlakukan di lingkungan             applied in the Company to regulate the rights and obligations
Perseroan untuk mengatur hak dan kewajiban serta hubungan         as well as the working relationship between the Company
kerja antara Perseroan dan karyawannya. Salah satu wujud          and its employees. As an effort to maintain good industrial
menjaga hubungan industrial yang baik adalah dengan               relations, the Company ensures the fulfillment of Regional
pemenuhan Upah Minimum Regional (UMR) di wilayah kerja            Minimum Wage in the Company’s operational areas.
Perseroan.



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      Sustaining Operational Excellence




      Imbalan atas jasa karyawan tetap golongan terendah pada             The lowest remuneration for the services of permanent
      Tahun 2023 adalah UMR Provinsi yang ditetapkan oleh                 employees in 2023 is the Provincial Minimum Wage as set
      Pemerintah.                                                         by the government.

                                                                                       Imbal Jasa Karyawan
                                                                                         Tingkat Terendah
                          Wilayah Operasional                   UMR Provinsi                                          Persentase
         No.                                                                              Employee Work
                           Operational Area                  Provincial UMR (Rp)                                      Percentage
                                                                                       Compensation for the
                                                                                        Lowest Position (Rp)
          1.    DKI Jakarta                                           4.901.798,00              6.027.120,00                          123%
         2.     Sulawesi Tengah                                       3.565.409,00              4.790.500,00                          134%
          3.    Sumatera Selatan                                      2.599.546,00              4.772.920,00                          184%


      Perseroan juga menjaga kepatuhan terhadap Peraturan                 Furthermore, the Company complies with the Manpower
      Ketenagakerjaan dipenuhi Perseroan melalui Peraturan                Regulations through the Company Regulations that are
      Perusahaan yang dibuat dan diberlakukan di lingkungan               applied in the Company aiming at regulating the rights and
      Perseroan untuk mengatur hak dan kewajiban serta hubungan           obligations as well as the working relationship between
      kerja antara Perseroan dan karyawannya. Salah satu wujud            the Company and its employees. As an effort to maintain
      menjaga hubungan industrial yang baik adalah dengan                 good industrial relations, the Company ensures the fulfillment
      pemenuhan Upah Minimum Regional (UMR) di wilayah kerja              of Regional Minimum Wage in the Company’s operational
      Perseroan.                                                          areas.

      Perseroan juga menjaga daya saing karyawannya dengan                Furthermore, the Company also retains the employee
      menyediakan fasilitas kesejahteraan karyawan, antara lain           competitiveness by providing employee welfare facilities,
      sebagai berikut : [GRI 401-2]                                       namely as follows : [GRI 401-2]


                                                                                                                Lokasi
                                                Fasilitas                                                      Location
        No.
                                                Facilities                                      Kantor Pusat              Pabrik / Site
                                                                                                Head Office                Plant / Site
         1     Tunjangan Hari Raya                                                                    √                        √
               Holiday Allowances
         2     BPJS Kesehatan dan BPJS Ketenagakerjaan (meliputi: Jaminan Hari Tua,                   √                        √
               Jaminan Kecelakaan Kerja, Jaminan Kematian dan Jaminan Pensiun)
               BPJS Health and BPJS Employment (including post employment insurance,
               work accident insurance, death insurance, and pension insurance);
         3     Tunjangan kesehatan (meliputi: Rawat Jalan, Rawat Gigi, Kacamata dan                   √                        √
               Persalinan) dan medical check-up secara rutin
               Health benefits (including Outpatient, Dental, Glasses, and Childbirth) and
               regular medical check-ups
         4     Asuransi kesehatan berupa: Medical Scheme (Inpatient)                                  √                        √
               Health insurance in the form of Medical Scheme (Inpatient)
         5     Car Ownership Program                                                                  √                        √
               Car Ownership Program
         6     Fasilitas kebugaran                                                                    -                        √
               Fitness facilities
         7     Fasilitas makan siang dan malam bagi karyawan                                          -                        √
               Lunch and dinner for employees
         8     Birthday Celebration untuk karyawan yang diadakan setiap bulan                         √                        √
               Birthday Celebration for employees which is held every month




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            KILAS           LAPORAN        PROFIL         ANALISIS DAN                   TATA KELOLA      LAPORAN                LAPORAN
            KINERJA         MANAJEMEN      PERUSAHAAN     PEMBAHASAN MANAJEMEN           PERUSAHAAN       KEBERLANJUTAN          KEUANGAN
            Performance     Management     Company        Management                     Corporate        Sustainability         Financial
            Overview        Report         Profile        Discussion And Analysis        Governance       Report                 Report




                                                                                                              Lokasi
                                          Fasilitas                                                          Location
  No.
                                          Facilities                                          Kantor Pusat                 Pabrik / Site
                                                                                              Head Office                   Plant / Site
   9     Fasilitas transportasi berupa bus karyawan                                                   -                         √
         Transportation facilities in the form of employee buses
   10    Mess untuk karyawan plant/site                                                               -                         √
         Mess for plant/site employees
   11    Fasilitas komunikasi berupa pemberian telepon genggam dan pulsa untuk                     √                            √
         jabatan tertentu
         Communication facilities in the form of the provision of mobile phones and
         mobile vouchers for certain positions
   12    Rooster                                                                                      -                         √
         Rooster


Peraturan Perusahaan yang mengatur hak dan kewajiban                The Company Regulations regulate the rights and obligations
serta hubungan kerja antara Perseroan dan karyawannya,              as well as the working relationship between the Company
Peraturan Perusahaan terbaru telah mendapatkan pengesahan           and its employees. The latest Company Regulations was
dari instansi yang berwenang berdasarkan Surat Keputusan            approved by the relevant authorities according to the Decree
Nomor KEP. 4/HI.00.00/00.0000.211026027/B/XII/2021.                 Number KEP. 4/HI.00.00/00.0000.211026027/B/XII/2021.



Pelatihan dan Pengembangan SDM                                      HR Training and Development
                                                                    [GRI 404-1][OJK F.22]

Sepanjang Tahun 2023, Perseroan telah melakukan program             Throughout 2023, the Company carried out a total of 96
pelatihan dan pengembangan kompetensi Sumber Daya                   competency development training programs attended by
Manusia (SDM) melalui 96 program pelatihan yang diikuti             418 participants with a total of 2,650.75 hours of training,
oleh 418 peserta dengan total 2.650,75 jam pelatihan.               aiming at developing the human capital.

PENGEMBANGAN MASYARAKAT                                             COMMUNITY DEVELOPMENT
Dampak Operasi Terhadap Masyarakat                                  Impact of Operation to The Surrounding
Sekitar                                                             Communities [OJK F.23]

ESSA memandang bahwa pelaksanaan Corporate Social                   According to ESSA assessment, the implementation of
Responsibility (CSR) lebih dari sekedar kewajiban. Perseroan        Corporate Social Responsibility (CSR) is more than just an
memahami bahwa keseimbangan bisnis yang diwujudkan                  obligation. The Company understands that a balanced
melalui tiga aspek dasar yaitu people, planet dan profit,           business can be achieved through 3 (three) aspects, namely
dapat memberikan dampak yang signifikan bagi pertumbuhan            people, planet and profit, that have a significant impact on
Perseroan dan kesejahteraan masyarakat. Pelaksanaan                 the Company’s growth and the public welfare. The
kegiatan CSR di sekitar Perusahaan diharapkan tidak hanya           implementation of CSR activities around the Company’s
membawa manfaat bagi Perusahaan tetapi juga bagi                    operational areas is expected not only to bring benefits to
masyarakat sekitar. Perseroan telah melaksanakan sejumlah           the Company but also to the local communities. The Company
kegiatan CSR di bidang sosial, pendidikan dan keagamaan             actively participates in various CSR activities related to the
yang diwujudkan dari anggaran CSR yang telah ditetapkan.            social, educational, and religious aspects, that are carried
                                                                    out using determined CSR budget.




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      Sustaining Operational Excellence



      Kegiatan CSR                                                     CSR Activities
                                                                       [GRI 203-1, 413-1][OJK F.25]

      Perseroan telah melakukan serangkaian kegiatan tanggung          In 2023, the Company carried out various CSR activities in
      jawab sosial perusahaan (CSR) yang sejalan dengan Tujuan         line with the Sustainable Development Goals (SDGs) in
      Pembangunan Berkelanjutan (Sustainable Development               Indonesia, as a form of the Company’s concern and positive
      Goals/SDGs) di Indonesia di Tahun 2023. Hal tersebut             contribution to stakeholders, including the local communities
      dilakukan sebagai bentuk kepedulian dan kontribusi positif       around the Company’s operational areas and employees.
      Perusahaan kepada pemangku kepentingan termasuk
      masyarakat di sekitar wilayah operasional Perusahaan dan
      juga karyawan.

      Tabel Kegiatan CSR Tahun 2023
      Table of CSR Activities in 2023
                Kegiatan CSR                                             Penjelasan                                   Capaian
        No.                               SDGs
                CSR Activities                                           Explanation                                Achievement

                                                   Program Pertanian dan Peternakan
                                                   Agriculture and Livestock Program
         1     Program            SDGs No. 8 –           Dalam rangka peningkatan ekonomi                 Panen kelompok telah beberapa
               Pertanian dan      Pekerjaan layak dan    masyarakat, Perseroan melaksanakan               kali telah dilakukan dengan
               Peternakan         pertumbuhan            Program Pertanian dan Peternakan di 3            komoditi yang dihasilkan oleh para
                                  ekonomi (Decent        wilayah operasional PAU; di Kecamatan            petani berupa Jagung, Tomat dan
               Agriculture and    Work and Economy       Batui, Kecamatan Kintom, Kecamatan Nambo         Cabe. Kegiatan juga diarahkan
               Livestock          Growth).               dan di Wilayah Batui Selatan. Kegiatan ini       kepada pembuatan pupuk organik
               Program                                   bersinergi dengan Dinas Tanaman Pangan,          mengantisipasi harga pupuk yang
                                  SDGs No. 8 - Decent    Holtikultura dan Perkebunan Kabupaten            semakin mahal dan sulit didapatkan.
                                  work and economic      Banggai.
                                  growth. (Decent Work
                                  and Economy            In order to improve the community's              Group harvests have been carried
                                  Growth).               economy, the Company implements the              out several times with commodities
                                                         Agriculture and Livestock Program in 3           produced by farmers in the form
                                                         PAU operational areas; in Batui District,        of corn, tomatoes and chilies.
                                                         Kintom District, Nambo District and in South     Activities are also directed towards
                                                         Batui Region. This activity is in synergy with   making organic fertilizer to
                                                         the Food Crops, Horticulture and Plantation      anticipate the increasingly
                                                         Office of Banggai Regency.                       expensive and difficult to obtain
                                                                                                          fertilizer prices.

         2     Program            SDGs No. 11 – Kota     Meningkatnya hewan ternak di wilayah             Kandangnisasi di wilayah Kecamatan
               Kandangnisasi      dan Masyarakat         Kecamatan Kintom menciptakan                     Kintom dapat menurunkan angka
               Hewan Ternak       Berkelanjutan          ketidanyamanan bagi para pengguna jalan          kecelakaan lalu lintas dan
                                                         dan para petani yang sedang menanam              mengurangi kerugian para petani
               Livestock Caging   SDGs No. 11 -          komoditi sayuran. Hewan ternak Sapi yang         yang tanamannya tergangu oleh
               Program            Sustainable Cities     dilepas oleh para pemilikinya menciptakan        hewan ternak sapi tersebut.
                                  and Communities        tingginya kecelakaan lalu lintas di wilayah      Kegiatan ini mendapat dukungan
                                                         tersebut dan banyak merusak lahan                dari aparat desa, kecamatan dan
                                                         pertanian dengan memakan pohon dan               kepolisian.
                                                         hasil kebun para petani. Sehingga PAU
                                                         bersama Stakeholder di wilayah kecamatan        Caging in Kintom Sub-district can
                                                         Kintom, berusaha untuk memfasilitasi            reduce the number of traffic
                                                         individu atau kelompok peternak dengan          accidents and reduce the losses
                                                         membuat kandangnisasi di beberapa desa          of farmers whose crops are
                                                         di wilayah Kecamatan Kintom.                    disturbed by the cattle. This activity
                                                                                                         received support from village, sub-
                                                         The increase of livestock in Kintom sub- district and police officials.
                                                         district is creating insecurity for road users
                                                         and farmers who are planting vegetables.
                                                         Cattle released by their owners create a
                                                         high number of traffic accidents in the area
                                                         and damage agricultural land by eating
                                                         trees and farmers' crops. Therefore, PAU,
                                                         together with stakeholders in Kintom sub-
                                                         district, is trying to facilitate individual or
                                                         groups of farmers by building cattle pens
                                                         in several villages in Kintom sub-district.



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        KILAS           LAPORAN       PROFIL       ANALISIS DAN                   TATA KELOLA      LAPORAN             LAPORAN
        KINERJA         MANAJEMEN     PERUSAHAAN   PEMBAHASAN MANAJEMEN           PERUSAHAAN       KEBERLANJUTAN       KEUANGAN
        Performance     Management    Company      Management                     Corporate        Sustainability      Financial
        Overview        Report        Profile      Discussion And Analysis        Governance       Report              Report




       Kegiatan CSR                                           Penjelasan                                   Capaian
No.                            SDGs
       CSR Activities                                         Explanation                                Achievement

                                                 Program Kesehatan
                                                   Health Program
3     Program PAU       SDGs No. 1 -            Perseroan memberikan bantuan sosial di •           Perseroan mendukung setiap
      Peduli            Kesehatan yang Baik     wilayah operasional PAU kepada anggota             Kegiatan sosial
                        dan Kesejahteraan       masyarakat yang sakit atau membutuhkan             kemasyarakatan sebagai
      PAU Care                                                                                     bentuk kepedulian dan
      Program           SDGs No. 1 - Good       The Company provides social assistance             membangun kesetikawanan
                        Health and Wellbeing    in PAU operational areas to community              sosial.
                                                members who are sick or in need.
                                                                                               •   Bantuan diberikan dalam
                                                                                                   upaya meringankan dan
                                                                                                   kesulitan anggota keluarga
                                                                                                   yang sedang tertimpa
                                                                                                   musibah atau sakit.

                                                                                               •   The Company supports
                                                                                                   every social community
                                                                                                   activity as a form of concern
                                                                                                   and to build social solidarity.

                                                                                               •   Assistance is provided in an
                                                                                                   effort to alleviate the
                                                                                                   difficulties of family members
                                                                                                   who are afflicted with
                                                                                                   calamities or illnesses.




                                                   Kegiatan CSR
                                                   CSR Activities




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      Sustaining Operational Excellence




                  Kegiatan CSR                                          Penjelasan                               Capaian
          No.                             SDGs
                  CSR Activities                                        Explanation                            Achievement

      4         Program Fogging    SDGs No. 1 -           Untuk mencegah penyebaran nyamuk            Berikut beberapa sekolah yang
                (Pengasapan)       Kesehatan yang Baik    Aedes Aegypti di wilayah operasional        menjadi target pengasapan
                Fogging Program    dan Kesejahteraan      perseroan, PAU bekerjasama dengan Dinas     penyebaran nyamuk Aede
                                                          Kesehatan melakukan pengasapan di sarana    Aegypti:
                                   SDGs No. 1 - Good      sekolah dan tempat belajar                  Kecamatan Batui
                                   Health and Wellbeing                                               1. SMPN 6 Batui
                                                          To prevent the spread of Aedes Aegypti 2. SD Wadah Islamiyah
                                                          mosquitoes in the company's operational 3. TK Uso
                                                          areas, PAU in collaboration with the Health 4. TK Lamo
                                                          Office conducted fogging in schools and 5. SMAN 1 Batui
                                                          learning facilities.                        6. MTS Alkhairat Nonong
                                                                                                      7. SDN 1 Pembina Batui
                                                                                                      8. SDN 2 Batui
                                                                                                      9. TK Pertiwi Balantang

                                                                                                     Kecamatan Kintom
                                                                                                     1. SDN 1 Pembina Kintom
                                                                                                     2. SDN 2 Kintom
                                                                                                     3. SDN Inpres Uling

                                                                                                     Kecamatan Nambo
                                                                                                     1. SD Inpres Koyoan
                                                                                                     2. SD Inpres 3 Nambo
                                                                                                     3. SDN 1 Nambo
                                                                                                     4. SDN 1 Padungyo

                                                                                                     The following are some schools
                                                                                                     that are targeted for fogging to
                                                                                                     prevent the spread of Aede
                                                                                                     Aegypti mosquitoes:
                                                                                                     Batui sub-district
                                                                                                     1. SMPN 6 Batui
                                                                                                     2. SD Wadah Islamiyah
                                                                                                     3. TK Uso
                                                                                                     4. TK Lamo
                                                                                                     5. SMAN 1 Batui
                                                                                                     6. MTS Alkhairat Nonong
                                                                                                     7. SDN 1 Pembina Batui
                                                                                                     8. SDN 2 Batui
                                                                                                     9. TK Pertiwi Balantang

                                                                                                     Kintom sub-district
                                                                                                     1. SDN 1 Pembina Kintom
                                                                                                     2. SDN 2 Kintom
                                                                                                     3. SDN Inpres Uling

                                                                                                     Kecamatan Nambo
                                                                                                     1. SD Inpres Koyoan
                                                                                                     2. SD Inpres 3 Nambo
                                                                                                     3. SDN 1 Nambo
                                                                                                     4. SDN 1 Padungyo




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            KILAS            LAPORAN       PROFIL        ANALISIS DAN                   TATA KELOLA      LAPORAN             LAPORAN
            KINERJA          MANAJEMEN     PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN       KEBERLANJUTAN       KEUANGAN
            Performance      Management    Company       Management                     Corporate        Sustainability      Financial
            Overview         Report        Profile       Discussion And Analysis        Governance       Report              Report




           Kegiatan CSR                                              Penjelasan                                  Capaian
    No.                             SDGs
           CSR Activities                                            Explanation                               Achievement

5         Pelatihan Kader    SDGs No. 1 -            Bersinergi dengan DInas Kabupaten               Pelatihan yang dilaksanakan berupa
          Posyandu           Kesehatan yang Baik     Banggai, PAU menyelenggarakan pelatihan-        pemahamam kasus stunting, nilai
                             dan Kesejahteraan       pelatihan yang ditujukan kepada para kader-     makanan yang memiliki gizi tinggi
          Posyandu Cadre                             kader Posyandu di wilayah operasional           dan praktek-praktek pendukung
          Training           SDGs No. 1 - Good       perusahaan di Kecamatan Batui, Kecamatan        kesehatan.
                             Health and Wellbeing    Kintom dan Kecamatan Nambo. Pelatihan
                                                     ini dirasakan perlu untuk peningkatan           The training was conducted in the
                                                     kemampuan para kader untuk penanganan           form of understanding stunting
                                                     kasus stunting yang tinggi dan penanganan       cases, the value of foods that have
                                                     kesehatan masyarakat dalam keseharian.          high nutrition and health support
                                                                                                     practices.
                                                     In synergy with the Banggai District
                                                     Education Office, PAU organized trainings
                                                     aimed at Posyandu cadres in the company's
                                                     operational areas in Batui Sub-district,
                                                     Kintom Sub-district and Nambo Sub-district.
                                                     This training was deemed necessary to
                                                     improve the cadres' ability to handle high
                                                     stunting cases and handle public health
                                                     on a daily basis.
6         Pemberian          SDGs No. 1 -            Pemberian Makanan Tambahan (PMT)                Tujuan Pemberian Makanan
          Makanan            Kesehatan yang Baik     adalah kegiatan pemberian makanan kepada        tambahan (PMT) merupakan sebuah
          Tambahan (PMT)     dan Kesejahteraan       balita dalam bentuk kudapan yang aman           program yang bertujuan untuk
          untuk Balita dan                           dan bermutu beserta kegiatan pendukung          kesehatan bayi dan balita,
          Ibu Hamil          SDGs No. 1 - Good       lainnya dengan memperhatikan aspek mutu         memastikan tumbuh kembang anak
                             Health and Wellbeing    dan keamanan pangan, serta mengandung           sesuai dengan umurnya, dan
          Provision of                               nilai gizi yang sesuai dengan kebutuhan         mencegah stunting. Program ini
          Supplementary                              sasaran. Pemberian Makanan Tambahan             menjadi prioritas perseroan untuk
          Food (PMT) for                             (PMT) untuk balita dan ibu hamil gizi sebagai   membantu program pemerintah
          Toddlers and                               dukungan perseroan dalam penanganan             dalm penanganan stunting.
          Pregnant Women                             stunting di wilayah operasional perusahaan.
                                                                                                     The purpose of Providing Additional
                                                     Supplementary Feeding (PMT) is an activity      Food (PMT) is a program that aims
                                                     of providing food to toddlers in the form of    to improve the health of infants
                                                     safe and quality snacks along with other        and toddlers, ensure the growth
                                                     supporting activities by paying attention       and development of children
                                                     to aspects of food quality and safety, and      according to their age, and prevent
                                                     containing nutritional value in accordance      stunting. This program is a priority
                                                     with the needs of the target. Providing         for the company to help the
                                                     Supplementary Food (PMT) for toddlers           government program in handling
                                                     and pregnant women nutrition as the             stunting.
                                                     company's support in handling stunting in
                                                     the company's operational areas.




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                  Kegiatan CSR                                             Penjelasan                                 Capaian
          No.                                SDGs
                  CSR Activities                                           Explanation                              Achievement

                                                            Program Pendidikan
                                                            Education Program
      7         Bantuan              SDGs No. 4 –           Pada tanggal 25 Mei 2023 Perseroan          Penyerahan bantuan komputer
                Komputer dan         Pendidikan             menyerahkan bantuan 30 Unit komputer        dihadiri oleh Bupati Kabupaten
                Printer untuk        berkualitas (Quality   dan 3 Unit printer. Dimana setiap sekolah   Banggai Bapak Ir. H. Amirudin MM.,
                Sekolah              Education).            mendapatkan 10 unit Komputer dan 1 unit     AIFO dan Kepala Dinas Pendidikan
                                                            printer                                     Kabupaten Banggai, Syafrudin
                Computer and         SDGs No. 4 - Quality                                               Hinelo S.STP., M.Si kepada kepala
                Printer Assistance   Education.             On 25 May 2023 the Company handed sekolah SMP Negeri 1 Batui, SMP
                for Schools                                 over 30 computer units and 3 printer units. Negeri 1 Kintom dan SMP Negeri 4
                                                            Where each school gets 10 computer units Nambo/ Luwuk.
                                                            and 1 printer unit.
                                                                                                        The handover of computer
                                                                                                        assistance was attended by the
                                                                                                        Regent of Banggai Regency, Mr.
                                                                                                        Ir. H. Amirudin MM, AIFO and the
                                                                                                        Head of the Banggai Regency
                                                                                                        Education Office, Syafrudin Hinelo
                                                                                                        S.STP., M.Si to the principals of SMP
                                                                                                        Negeri 1 Batui, SMP Negeri 1 Kintom
                                                                                                        and SMP Negeri 4 Nambo / Luwuk.
      8         Program Sahabat      SDGs No. 4 –           Untuk meningkatkan kapasitas pengetahuan   Pengajaran yang diberikan yaitu
                Mengajar             Pendidikan             siswa-siswi Sekolah Menengah Pertama,      berupa pendidikan dasar komputer
                                     berkualitas (Quality   karyawan PAU memberikan pengajaran di      berupa pengetahuan mengenai
                Sahabat              Education).            beberapa sekolah di Kecamatan Batui,       software dan hardware. Program
                Mengajar                                    Kecamatan Kintom dan Nambo                 ini merupakan lanjutan Program
                Program              SDGs No. 4 - Quality                                              CSR seiring sejalan dengan bantuan
                                     Education.             To increase the knowledge capacity of yang telah diberikan yaitu komputer
                                                            junior high school students, PAU employees ke sekolah-sekolah.
                                                            provided teaching in several schools in
                                                            Batui, Kintom and Nambo sub-districts. The teaching provided is in the
                                                                                                       form of basic computer education
                                                                                                       in the form of knowledge about
                                                                                                       software and hardware. This
                                                                                                       program is a continuation of the
                                                                                                       CSR Program in line with the
                                                                                                       assistance that has been provided,
                                                                                                       namely computers to schools.
      9         Bantuan              SDGs No. 4 –           Bantuan transportasi untuk anak-anak         Bantuan transportasi untuk
                Transportasi Anak    Pendidikan             sekolah di wilayah Kecamatan Kintom.         anak-anak sekolah tingkat SD,
                Sekolah              berkualitas (Quality                                                SMP, dan SMA di wilayah Kintom.
                                     Education).            Transportation assistance for school
                School Children                             children in the Kintom District area.        Transportation assistance for
                Transportation       SDGs No. 4 - Quality                                                school children at elementary,
                Assistance           Education.                                                          junior high, and high school
                                                                                                         levels in the Kintom area.




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          KILAS             LAPORAN        PROFIL        ANALISIS DAN                   TATA KELOLA      LAPORAN              LAPORAN
          KINERJA           MANAJEMEN      PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN       KEBERLANJUTAN        KEUANGAN
          Performance       Management     Company       Management                     Corporate        Sustainability       Financial
          Overview          Report         Profile       Discussion And Analysis        Governance       Report               Report




         Kegiatan CSR                                               Penjelasan                                    Capaian
 No.                                SDGs
         CSR Activities                                             Explanation                                 Achievement

                                                          Infrastruktur
                                                         Infrastructure
10     Bantuan              SDGs No. 6 – Air         Kesulitan air bersih masih menjadi masalah      Bantuan sumur bor oleh perseroan
       Pembuatan            Bersih dan Sanitasi      di beberapa Kecamatan dan Desa di wilayah       di wilayah kecamatan Nambo dirasa
       Sumur Bor                                     operasional PAU. Daerah perbukitan dan          sangat membantu masyarakat dan
                            SDGs No. 6 - Clean       musim kemarau yang berkepanjangan               stakeholder untuk mendapatkan
       Borehole Well        Water and Sanitation     menyebabkan dibeberapa wilayah di               air bersih sebagai dasar kehidupan
       Construction                                  Kecamatan Nambo kesulitan untuk                 dan aktifitas sehari-hari.
       Assistance                                    mendapatkan air bersih

                                                     Clean water scarcity is still a problem in      The assistance of drilling wells by
                                                     several sub-districts and villages in the       the company in the Nambo sub-
                                                     PAU operational area. The hilly area and        district area is considered very
                                                     prolonged dry season make it difficult to       helpful for the community and
                                                     get clean water in several areas in Nambo       stakeholders to get clean water as
                                                     Sub-district.                                   a basis for life and daily activities.



                                                    Program Sosial & Budaya
                                                   Social & Cultural Programs
11     Bantuan Hewan        SDGs No. 2 –             Pada tanggal 24 Juni 2023 Perseroan             Bantuan 9 ekor Hewan Kurban di
       Kurban               Kelaparan (Zero          melaksanakan penyerahan bantuan 9 ekor          Kelurahan Balantang, Kelurahan
                            Hunger).                 Hewan Kurban kepada Masyarakat di wilayah       Tolando, Desa Uso, Dusun
       Sacrificial Animal                            operasional PAU.                                Kompanga, Desa Padang, Desa
       Assistance           SDGs No. 2 - Zero                                                        Samandoya, Kelurahan Mondonun,
                            Hunger.                  On 24 June 2023 the Company handed Desa Padungnyo, dan Kelurahan
                                                     over 9 sacrificial animals to the community Lontio dan diterima oleh masing-
                                                     i n t h e P A U o p e r a t i o n a l a r e a . masing pinpinan wilayahnya dalam
                                                                                                     rangka perayaan hari besar Idul
                                                                                                     Adha 1444 H / 2023 M.

                                                                                                     Assistance of 9 sacrificial animals
                                                                                                     in Balantang Village, Tolando
                                                                                                     Village, Uso Village, Kompanga
                                                                                                     Hamlet, Padang Village, Samandoya
                                                                                                     Village, Mondonun Village,
                                                                                                     Padungnyo Village, and Lontio
                                                                                                     Village and received by each
                                                                                                     regional leader in the context of
                                                                                                     celebrating Eid al-Adha 1444 H /
                                                                                                     2023 AD.
12     Bantuan Fasilitas    SDGs No. 16 –            Pada peringatan Isra Miraj 18 Februari 2023,    Fasilitas ibadah diserahkan
       Beribadah            Perdamaian, Keadilan     perseroan membantu fasilitas ibadah di          lengsung kepada pengurus-
                            dan Kelembagaan          beberapa masjid di wilayah operasional          pengurus masjid yang diketahui
       Worship Facilities   Yang Kuat                perusahaan. Kegiatan ini sebagai bagian         oleh pihak kecamatan dan desa.
       Assistance                                    dari kepedulian perseroan dalam
                            SDGs No. 16 - Peace,     membangun masyarakat yang religius serta     The worship facilities were handed
                            Justice and Strong       berkeadilan sosial.                          over directly to the mosque
                            Institutions                                                          administrators who were recognized
                                                     On the commemoration of Isra Miraj on by the sub-district and village
                                                     February 18, 2023, the company helped authorities.
                                                     worship facilities in several mosques in the
                                                     company's operational areas. This activity
                                                     is part of the company's concern in building
                                                     a religious and socially just society.




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               Kegiatan CSR                                             Penjelasan                                   Capaian
       No.                               SDGs
               CSR Activities                                           Explanation                                Achievement

      13     Bantuan             SDGs No. 16 –           Dalam rangka menyambut Hari Raya Natal Bantuan diberikan kepada 19 gereja
             Peringatan Natal    Perdamaian, Keadilan    2023, Perseroan berbagi kebahagiaan dan yang berada di wilayah Kecamatan
             2023                dan Kelembagaan         turut meningkatkan kesejahteraan Batui dan Kecamatan Kintom.
                                 Yang Kuat               masyarakat kurang mampu.
             Christmas
             Commemoration       SDGs No. 16 - Peace,    In order to welcome Christmas 2023, the Assistance was provided to 19
             Aid 2023            Justice and Strong      Company shared happiness and helped churches located in Batui District
                                 Institutions            improve the welfare of underprivileged and Kintom District.
                                                         communities.




      14     Pelestarian         SDGs No. 16 –           Sebagai bentuk perhatian terhadap kegiatan     Perseroan berkomitmen untuk
             Budaya Adat         Perdamaian, Keadilan    adat dan budaya, Perseroan membantu            menjaga kelestarian tradisi budaya
             Tumpek              dan Kelembagaan         kegiatan upacara adat masyarakat               ini, seiring sejalan dengan
             (Pengantaran        Yang Kuat               Kecamatan Batui yakni pengantaran telur        pelestarian maleo.
             Telur Maleo) dan                            Maleo atau disebut Tumpe dan kegiatan
             Tumbe               SDGs No. 16 - Peace,    upacara adat masyarakat Kabupaten              The Company is committed to
             (Penerimaan Telur   Justice and Strong      Banggai Laut, penerimaan Telur Maleo atau      preserving this cultural tradition, in
             Maleo)              Institutions            disebut Tumbe.                                 line with maleo conservation.

             Preservation of                             As a form of attention to customary and
             Customary                                   cultural activities, the Company assists the
             Culture of                                  traditional ceremony activities of the Batui
             Tumpek (Maleo                               District community, namely the delivery of
             Egg Delivery) and                           Maleo eggs or called Tumpe and the
             Tumbe (Maleo                                traditional ceremony activities of the
             Egg Reception)                              Banggai Laut District community, the
                                                         reception of Maleo eggs or called Tumbe.

      15     Konservasi          SDGs No. 15 –           Perseroan turut menjaga warisan dunia          Selain sebagai satwa endemik
             Burung Maleo,       Ekosistem darat (Life   dalam bentuk Program Konservasi Burung         Burung Maleo ini yang mulai langka
             Pusat Penelitian,   On Land).               Maleo yang dilakukan PAU. Burung Maleo         dan dilindungi ini sejak tahun 1990
             & Pariwisata                                (Macrocephalon Maleo) sebagai salah satu       berdasarkan SK. No. Kep.
                                 SDGs No. 15 - Life on   burung endemik di hutan tropis dataran         188.44/1067/RO/BKLH tanggal 24
             Maleo Bird          Land Ecosystem.         rendah pulau Sulawesi seperti di Gorontalo     Pebruari 1990, Burung Maleo
             Conservation,                               (Bone Bolango dan Pohuwato) dan Sulawesi       ditetapkan sebagai “Satwa Maskot”
             Research Center,                            Tengah (Sigi dan Banggai).                     Provinsi Sulawesi Tengah dan dari
             & Tourism                                                                                  hasil program konservasi yang
                                                         The Company helps preserve the world dilakukan oleh PAU, total burung
                                                         heritage in the form of Maleo Bird telah berhasil dilepaskan hingga
                                                         Conservation Program conducted by PAU. saat ini 325 Maleo telah
                                                         Maleo bird (Macrocephalon Maleo) is one dilepasliarkan di Taman Suaka
                                                         of the endemic birds in the lowland tropical Margasatwa Bakiriang.
                                                         forest of Sulawesi island such as in Gorontalo
                                                         (Bone Bolango and Pohuwato) and Central Aside from being an endemic
                                                         Sulawesi (Sigi and Banggai).                   species, the Maleo bird has become
                                                                                                        rare and protected since 1990
                                                                                                        based on Decree No. Kep.
                                                                                                        188.44/1067/RO/BKLH dated 24
                                                                                                        February 1990, the Maleo bird was
                                                                                                        designated as the "Mascot Animal"
                                                                                                        of Central Sulawesi Province and
                                                                                                        from the results of conservation
                                                                                                        programs conducted by PAU, a
                                                                                                        total of 325 Maleo birds have been
                                                                                                        released in Bakiriang Wildlife
                                                                                                        Reserve Park.




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KILAS         LAPORAN      PROFIL       ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
KINERJA       MANAJEMEN    PERUSAHAAN   PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
Performance   Management   Company      Management                     Corporate      Sustainability    Financial
Overview      Report       Profile      Discussion And Analysis        Governance     Report            Report




                                        Kegiatan CSR
                                        CSR Activities




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      Pengaduan Masyarakat                                         Community Complaints
                                                                   [GRI 2-16, 2-26][OJK F.24]

      Dengan komitmen Perseroan untuk memberikan manfaat           The Company’s commitment to providing benefits to the
      bagi masyarakat sekitar melalui beragam kegiatan CSR,        local communities through various CSR activities brings
      terdapat banyak respon positif dari masyarakat sekitar.      positive responses from the local communities. The Company
      Perseroan senantiasa membuka kesempatan bagi masyarakat      continuously provides opportunities for the public to submit
      untuk menyampaikan pengaduan, usulan maupun saran            complaints and constructive suggestions related to community
      yang membangun utamanya yang berkaitan dengan aspek          development around the Company’s operational areas. It
      pengembangan masyarakat di sekitar wilayah operasional       can be submitted through the Company’s contact information
      Perseroan yang dapat disampaikan melalui kontak Perseroan    stated in this report.
      yang telah tercantum dalam laporan ini.

      Sepanjang Tahun 2023, Perseroan tidak pernah menerima        Throughout 2023, no reports and complaints from the public
      laporan dan pengaduan dari masyarakat terkait aspek sosial   regarding social aspects of society were received by the
      kemasyarakatan.                                              Company.

      Program Safety                                               Safety Program

      ESSA berkomitmen untuk menjalankan seluruh kegiatannya       ESSA is committed to carrying out its operating activities
      dengan tetap mengedepankan aspek Kesehatan dan               while prioritizing the Occupational Health and Safety (OHS)
      Keselamatan Kerja (K3). “Safety First, No Compromise”        aspects. “Safety First, No Compromise” is a safety motto
      menjadi motto keselamatan yang ditekankan dalam seluruh      emphasized in the operating activities.
      kegiatan operasionalnya.

      Topik Material                                               Material Topic
         • Lingkungan Bekerja yang Layak dan Aman                     • Proper and Safe Work Environment
         • Kinerja K3                                                 • OHS Performance

      Kontribusi Kami                                              Our Contribution
         • ZERO Accident                                              • ZERO Accident
         • Penghargaan Kecelakaan Nihil dari kementerian              • Appreciation of Zero Accidents by Ministry of
             Ketenagarkerjaan Republik Indonesia                         Employment of the Republic of Indonesia

      Lingkungan Bekerja yang Layak dan Aman                       Proper and Safe Working Environment
                                                                   [GRI 403-1, 403-5][OJK F.21]

      Sebagai upaya dalam menciptakan lingkungan bekerja yang      As the efforts to create a proper and safe working environment,
      layak dan aman, ESSA menekankan aspek K3 melalui             ESSA focusing on OHS Performance through various OHS
      beragam kebijakan K3. Selain itu, Perseroan juga secara      policies. In addition, the Company also organizes regular
      berkala menyelenggarakan safety briefing, pelatihan, dan     safety briefings, training, and inspections to prioritize the
      inspeksi berkala untuk memprioritaskan target keselamatan    “ZERO ACCIDENT” safety target in all scopes of work.
      “ZERO ACCIDENT” di semua lingkup pekerjaan.

      Tujuan penerapan kebijakan K3 Perseroan di antaranya:        The objectives of implementing the Company’s OHS policies
                                                                   are as follows:
         1. Meningkatkan kesadaran karyawan akan budaya K3.           1. Increasing the employee awareness of OHS culture.
         2. Mempromosikan budaya yang kuat terhadap                   2. Fostering a strong OHS culture.
            kesadaran K3.
         3. Menaati peraturan perundang-undangan dan                  3. Complying with the applicable laws and regulations
            ketentuan-ketentuan lain yang relevan.                       as well as other relevant regulations.
         4. Menjaga komunikasi dan kerjasama yang efektif             4. Maintaining effective communication and collaboration


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           KILAS          LAPORAN       PROFIL        ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
           KINERJA        MANAJEMEN     PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
           Performance    Management    Company       Management                     Corporate      Sustainability    Financial
           Overview       Report        Profile       Discussion And Analysis        Governance     Report            Report




       dengan para pemangku kepentingan guna memastikan                with stakeholders to ensure the compliance with
       komitmen yang sama terkait kebijakan, standar,                  OHS policies and standards as well as the commitment
       program dan kinerja K3.                                         to conducting the programs and maintaining the
                                                                       performance.
   5. Meningkatkan kemampuan karyawan dalam upaya                   5. Improving the employee competencies in order to
      memastikan kondisi pekerjaan aman dan mencegah                   ensure safe working conditions and to prevent work
      kecelakaan kerja.                                                accidents.
   6. Menganalisa dan melakukan manajemen insiden                   6. Analyzing and implementing accident management
      sebagai alat untuk mencegah kecelakaan kerja.                    to prevent work accidents.

Sepanjang Tahun 2023, secara khusus Perseroan telah             Throughout 2023, the Company provided 12 (BAP) and 6
memberikan 12 kali (BAP) dan 6 kali (PLP) program pelatihan     (PLP) OHS training and certification programs internally and
dan sertifikasi K3 baik internal dan eksternal kepada 117       externally to 117 employees (BAP) and 33 employees (PLP).
orang karyawan (BAP) dan 33 orang karyawan (PLP).               The training and certification programs were expected to
Pemberian program pelatihan dan sertifikasi tersebut            support the Company’s OHS policy in achieving the Zero
diharapkan dapat mendukung kebijakan K3 Perseroan untuk         Accident target, namely:
mencapai target Zero Accident, yaitu:
    • Pelatihan penggunaan Fire Hose                                •    Fire hose training
    • Pelatihan tumpahan bahan kimia                                •    Chemical spill training
    • Sertifikasi penanggungjawab pengelolaan limbah                •    Certification of person in charge of hazardous waste
       B3                                                                management
    • Sertifikasi penanggungjawab operasional pengelolaan           •    Certification of the person in charge of hazardous
       limbah B3                                                         waste management operations
    • Sertifikasi penanggungjawab operasional                       •    Certification of the person in charge of wastewater
       pengendalian pencemaran air limbah                                pollution control operations

Sebagai pengakuan bahwa Perseroan telah menerapkan              The Company always implements the OHS procedures in
Kesehatan dan Keselamatan Kerja (K3) sesuai dengan              compliance with the applicable laws and regulations. As
peraturan perundang-undangan yang berlaku, Perseroan            an acknowledgement of its outstanding achievements, the
telah menerima berbagai penghargaan yaitu Penghargaan           Company received a number of awards, namely the Zero
Zero Accident, Patra Nirbhaya Karya Utama, dan “Sistem          Accident Award, Patra Nirbhaya Karya Utama, and the
Manajemen Keselamatan dan Kesehatan Kerja (SMK3).”              Occupational Health and Safety Management System.

Kinerja K3                                                      OHS Performance
                                                                [GRI 403-9, 403-10][OJK F.21]

Penerapan K3 di lingkungan Perseroan mengacu pada:              The Company implements OHS within its premies by referring to:
   1. Undang-undang No. 1 Tahun 1970 tentang Keselamatan           1. Law No. 1 Year 1970 concerning Occupational Safety;
      Kerja;
   2. Undang-undang No. 23 tahun 1992 tentang Kesehatan;            2. Law No. 23 Year 1992 concerning Health;
   3. Undang-undang No.13 Tahun 2003 tentang                        3. Law No. 13 Year 2003 concerning Employment.
      Ketenagakerjaan.

Di sepanjang Tahun 2023, Perseroan mencatat jumlah              Throughout 2023, the Company recorded a total of 0 (zero)
peristiwa kecelakaan kerja fatal mencapai 0 (nol) kasus,        fatality case in the work accident, similar to 2022. In general,
sama dengan Tahun 2022, sehingga secara keseluruhan             the Company managed to maintain its OHS performance
Perseroan berhasil mempertahankan kinerja K3 dalam              in achieving “zero accident”.
mencapai “zero accident”.




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      Tingkat dan Jumlah Kecelakaan Kerja                   Level and Number of Employee Accidents
      Karyawan

        Tingkat Kecelakaan Kerja                      PLP                        BAP
            Level of Accidents         2021       2022      2023     2021       2022         2023

      Berpotensi celaka                 0             0      0        0           1           1
      Near miss
      Kerusakan Properti & Fire Case    0             0      0        3           2           0
      Property Damage & Fire case
      Ringan                            0             0      0        3           1           1
      First Aid
      Cedera Ringan                     0             0      0        0           0           0
      Minor Injury
      Cedera Berat                      0             0      0        0           0           0
      Major Injury
      Kematian                          0             0      0        0           0           0
      Fatality
      Jumlah                            0             0      0        6           4           2
      Total




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            KILAS           LAPORAN        PROFIL        ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
            KINERJA         MANAJEMEN      PERUSAHAAN    PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
            Performance     Management     Company       Management                     Corporate      Sustainability    Financial
            Overview        Report         Profile       Discussion And Analysis        Governance     Report            Report




Product: Meningkatkan Keunggulan Produk
Increasing Product Excellence

Perusahaan senantiasa berupaya untuk meningkatkan                  The Company strives to improve the quality of the products
keunggulan produk yang dihasilkan dalam industri LPG dan           produced in the LPG and Ammonia industry by using the
Amoniak dengan menggunakan teknologi tercanggih dan                most advanced and most efficient technology in the world.
paling efisien di dunia. Selain itu, Perseroan juga berkomitmen    Furthermore, the Company is also committed to providing
untuk memberikan layanan atas produk yang dihasilkan               services for products produced equally to all consumers in
setara kepada seluruh konsumen dalam rangka memenuhi               order to meet various consumer needs. [OJK F.17]
berbagai kebutuhan konsumen. [OJK F.17]

Topik Material                                                     Material Topics
   • Inovasi Pengembangan Produk Berkelanjutan                        • Innovation of Sustainable Product Development
   • Evaluasi Keamanan Produk                                         • Evaluation of Product Safety
   • Dampak Produk                                                    • Product Impact
   • Jumlah Produk yang Ditarik Kembali                               • Number of Recalled Products
   • Survei Kepuasan Pelanggan                                        • Customer Satisfaction Survey

Kontribusi Kami                                                    Our Contribution
   • Pengembangan Amoniak Biru                                        • Development of Blue Ammonia

INOVASI PENGEMBANGAN PRODUK                                        INNOVATION OF SUSTAINABLE
BERKELANJUTAN                                                      PRODUCT DEVELOPMENT [OJK F.26]

Saat ini Perseroan sedang mengembangkan Amoniak Biru               Currently, the Company is developing Blue Ammonia as
sebagai bahan bakar ramah lingkungan dengan menggunakan            an environmentally friendly fuel using carbon capture
teknologi carbon capture utilization and storage (CSSU) di         utilization and storage (CCUS) technology at the plant in
pabrik Banggai, Sulawesi Tengah. Pengembangan ini                  Banggai, Central Sulawesi. This particular development is
merupakan yang pertama di dunia sehingga menjadi Indonesia         the first in the world. As a result, Indonesia is the leading
terdepan dalam produksi Amoniak. Perseroan berharap                country in Ammonia production. The Company expects that
dengan pengembangan inovasi bahan bakar yang ramah                 through the development and innovation of environmentally
lingkungan ini, Perseroan dapat berkontribusi untuk mencapai       friendly fuel, the Company is able to provide a better quality
kualitas hidup masyarakat yang lebih baik dan juga sekaligus       of life for the community while paving the way for Indonesia
membuka jalan bagi Indonesia untuk menjadi yang terdepan           to be at the forefront in providing the fuel of the future.
dalam menyediakan bahan bakar masa depan.

EVALUASI KEAMANAN PRODUK                                           PRODUCT SAFETY EVALUATION
                                                                   [OJK F.27]
Dalam memproduksi LPG, Kondensat dan Amoniak, Perseroan            In producing LPG, Condensate, and Ammonia, the Company
selalu mengedepankan aspek keamanan. Perseroan                     always prioritizes safety aspects. The Company ensures
memastikan proses produksi berjalan dengan aman dari               that the production process is carried out safely from the
awal hingga proses distribusi sampai ke tangan konsumen.           beginning, the distribution process to the end users. The
Evaluasi terhadap keamanan sepanjang proses tersebut               security evaluation throughout the process has been
telah terangkum dalam kebijakan K3 Perseroan.                      summarized in the Company’s OHS policy.

Perseroan melakukan kajian LCA (Life Cycle Assesment)              The Company conducted a Life Cycle Assessment (LCA)
Study untuk mengetahui dampak dari proses produksi                 Study to determine the impact of the production process
terhadap lingkungan.                                               on the environment.




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      Sustaining Operational Excellence




      DAMPAK PRODUK                                                  PRODUCT IMPACT [OJK F.28]
      Perseroan menghasilkan produk yakni LPG, Kondensat dan         In general, the Company produces a variety of products,
      Amoniak yang merupakan salah satu komoditas esensial           namely LPG, Condensate, and Ammonia, which are the
      sehingga memiliki dampak positif dalam memenuhi kebutuhan      essential commodities. The products create positive impact
      masyarakat.                                                    in meeting the people’s needs.

      LPG adalah gas alam cair yang merupakan campuran dari          Liquefied petroleum gas (LPG) is liquefied natural gas that
      berbagai hidrokarbon yang berasal dari gas alam yang           is a mixture of numerous hydrocarbons derived from natural
      didominasi oleh propana (C3) dan butana (C4). Di Indonesia,    gas, which is dominated by propane (C3) and butane (C4).
      LPG banyak digunakan sebagai bahan bakar untuk peralatan       In Indonesia, LPG is widely used as fuel for heating equipment
      pemanas di dapur, pusat perbelanjaan dan hotel, bahan          in the kitchen, shopping centers and hotels, as well as fuel
      bakar kendaraan dan industri konstruksi seperti peralatan      for vehicles and the construction industry, such as welding
      las di bengkel baja.                                           equipment in steel workshop.

      Kondensat adalah senyawa alkana lima karbon atau lebih         Condensate is a five-carbon (C5) or higher alkane compound,
      yang merupakan produk sampingan cair dari gas alam yang        which is a by-product of the distillation of natural gas in
      dimurnikan. Di pasar domestik, kondensat terutama digunakan    liquid form. In the domestic market, condensate is mainly
      sebagai bahan dasar pengencer cat, perekat, dan ban            used as raw material for thinner, glue, vehicle tires. Besides,
      kendaraan. Selain itu dapat digunakan sebagai light naphtha    it can be used as light naphtha which is a cracker material
      yang berfungsi sebagai cracker dalam proses produksi           for the manufacture of polyethylene.
      polyethylene.

      Amoniak adalah senyawa anorganik berbentuk gas tidak           Ammonia is an inorganic compound consisting of elements
      berwarna, terdiri dari Nitrogen dan Hidrogen dengan rumus      of Nitrogen and Hydrogen (NH3) derived from natural gas
      NH3. Amoniak digunakan sebagai bahan baku utama                processing. Ammonia is used as the main raw material for
      pembuatan pupuk. Serta turunan lainnya termasuk bahan          the manufacture of fertilizers. Besides, it is used as other
      peledak, pewarna, pembersih rumah tangga dan nilon.            derivatives, such as explosives, dyes, household cleaners,
                                                                     and nylon.

      JUMLAH PRODUK YANG DITARIK                                     NUMBER OF RECALLED PRODUCTS
      KEMBALI                                                        [OJK F.29]
      Pada Tahun 2023, tidak terdapat produk Perseroan yang          In 2023, no products of the Company were recalled.
      ditarik kembali.

      SURVEI KEPUASAN PELANGGAN                                      CUSTOMER SATISFACTION SURVEY
                                                                     [OJK F.30]
      Perseroan senantiasa memberikan pelayanan terbaik dan          The Company always provides the best and maximum
      maksimal terhadap permintaan kebutuhan pelanggan atas          service to customer requests for LPG, condensate and
      LPG, kondensat dan Amoniak. Sistem penjualan pada              Ammonia. The company's sales system only has 1 (one)
      Perusahaan dimana hanya memiliki 1 (satu) Pelanggan atas       LPG Customer and 1 (one) Distributor Customer for Ammonia
      LPG dan 1 (satu) Pelanggan Distributor atas Amoniak sehingga   so that Customer satisfaction is measured by achieving
      kepuasan Pelanggan diukur dari tercapainya target kinerja      performance targets in accordance with the Cooperation
      sesuai Perjanjian Kerjasama dan Kontrak.                       Agreement and Contract.




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        PT ESSA Industries Indonesia Tbk.
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KILAS         LAPORAN      PROFIL       ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
KINERJA       MANAJEMEN    PERUSAHAAN   PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
Performance   Management   Company      Management                     Corporate      Sustainability    Financial
Overview      Report       Profile      Discussion And Analysis        Governance     Report            Report




                                        Kegiatan CSR
                                        CSR Activities




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                                                                              PT ESSA Industries Indonesia Tbk.
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      Sustaining Operational Excellence


                                                      Kegiatan CSR
                                                      CSR Activities




       Laporan Tahunan & Laporan Keberlanjutan 2023
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       PT ESSA Industries Indonesia Tbk.
Page 227
           KILAS         LAPORAN        PROFIL       ANALISIS DAN                   TATA KELOLA    LAPORAN           LAPORAN
           KINERJA       MANAJEMEN      PERUSAHAAN   PEMBAHASAN MANAJEMEN           PERUSAHAAN     KEBERLANJUTAN     KEUANGAN
           Performance   Management     Company      Management                     Corporate      Sustainability    Financial
           Overview      Report         Profile      Discussion And Analysis        Governance     Report            Report




      Surat Pernyataan Anggota Direksi dan Anggota
     Dewan Komisaris tentang Tanggung Jawab atas
 Laporan Tahunan 2023 PT ESSA Industries Indonesia Tbk.
      Statement of Responsibility from Member of the Board of Directors
         and the Board of Commissioners for 2023 Annual Report of
                     PT ESSA Industries Indonesia Tbk.


Kami, yang bertanda tangan dibawah ini, menyatakan bahwa       We, the undersigned, hereby declare that all information
semua informasi dalam Laporan Tahunan PT ESSA Industries       contained in the Annual Report of PT ESSA Industries
Indonesia Tbk. (“Perseroan”) Tahun 2023 telah dimuat           Indonesia Tbk. (the “Company”) for the year 2023 has been
secara lengkap dan bertanggungjawab penuh atas kebenaran       fully disclosed and that we are fully responsible for the
isi Laporan Tahunan Perseroan.                                 accuracy of the contents of the Company’s Annual Report.

Demikian pernyataan ini dibuat dengan sebenarnya.              We hereby certify that this statement is true and correct.



                                             Jakarta, 23 Februari 2024
                                             Jakarta, 23 February 2024

                                      Dewan Komisaris / Board of Commissioners




         Hamid Awaluddin                                                                     Chander Vinod Laroya
       Presiden Komisaris dan                                                                Wakil Presiden Komisaris
       Komisaris Independen                                                                Vice President Commissioner
    President Commissioner and
    Independent Commissioner




          Rahul Puri                                 Arif Rachmat                       Ida Bagus Rahmadi Supancana
           Komisaris                                   Komisaris                              Komisaris Independen
         Commissioner                                Commissioner                          Independent Commissioner




                                             Direksi / Board of Directors




          Kanishk Laroya                                                                          Mukesh Agrawal
      Presiden Direktur & CEO                                                                     Direktur & COO
      President Director & CEO                                                                    Director & COO




      Prakash Chand Bumb                                                                               Isenta
           Direktur & CFO                                                                             Direktur
           Director & CFO                                                                             Director


                                                                               Laporan Tahunan & Laporan Keberlanjutan 2023
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                                                                                                                                 227
                                                                                           PT ESSA Industries Indonesia Tbk.
Page 228
        07
                                               LAPORAN
                                               KEUANGAN
                                               FINANCIAL
                                               REPORT




      Laporan Tahunan & Laporan Keberlanjutan 2023
228   2023 Annual Report & Sustainability Report
      PT ESSA Industries Indonesia Tbk.
Page 229
Laporan Tahunan & Laporan Keberlanjutan 2023
     2023 Annual Report & Sustainability Report   229
            PT ESSA Industries Indonesia Tbk.
Page 230
Halaman ini sengaja dikosongkan
This page is Intentionally left blank
Page 231
PT ESSA Industries Indonesia Tbk
(dahulu/formerly PT Surya Esa Perkasa
Tbk) dan Entitas Anak/
and Subsidiaries

Laporan Keuangan Konsolidasian
Tanggal 31 Desember 2023 dan 2022
serta untuk tahun-tahun yang berakhir
pada tanggal tersebut beserta
Laporan Auditor Independen/
Consolidated Financial Statements
As of December 31, 2023 and 2022
and for the years then ended with
Independent Auditor’s Report
Page 232
                                                           The original consolidated financial statements included herein are in
                                                                                                          Indonesian language.


PT ESSA INDUSTRIES INDONESIA TBK                          PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                         (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                          AND SUBSIDIARIES
LAPORAN KEUANGAN KONSOLIDASIAN                            CONSOLIDATED FINANCIAL STATEMENTS
TANGGAL 31 DESEMBER 2023 DAN 2022                         AS OF DECEMBER 31, 2023 AND 2022
SERTA UNTUK TAHUN-TAHUN YANG BERAKHIR                     AND FOR THE YEARS THEN ENDED
PADA TANGGAL TERSEBUT                                     WITH INDEPENDENT AUDITOR’S REPORT
BESERTA LAPORAN AUDITOR INDEPENDEN


Daftar Isi                                                 Table of Contents


                                                 Halaman/
                                                   Page

Surat Pernyataan Direksi                                    Directors’ Statement Letter

Laporan Auditor Independen                                  Independent Auditor’s Report

Laporan Keuangan Konsolidasian -                            Consolidated Financial Statements -
   Untuk tahun-tahun yang berakhir                             for the years ended
   31 Desember 2023 dan 2022                                   December 31, 2023 and 2022

Laporan Posisi Keuangan Konsolidasian             1-2       Consolidated Statements of Financial Position

Laporan Laba Rugi dan Penghasilan Komprehensif              Consolidated Statements of Profit or Loss and
  Lain Konsolidasian                               3           Other Comprehensive Income

Laporan Perubahan Ekuitas Konsolidasian            4        Consolidated Statements of Changes in Equity

Laporan Arus Kas Konsolidasian                     5        Consolidated Statements of Cash Flows

Catatan Atas Laporan Keuangan Konsolidasian      6 – 94     Notes to Consolidated Financial Statements

Informasi Tambahan:                                         Supplementary Information:

Laporan Posisi Keuangan Entitas Induk             95        Parent Entity’s Statements of Financial Position

Laporan Laba Rugi dan Penghasilan Komprehensif              Parent Entity’s Statements of Profit or Loss and
  Lain Entitas Induk                              96           Other Comprehensive Income

Laporan Perubahan Ekuitas Entitas Induk           97        Parent Entity’s Statements of Changes in Equity

Laporan Arus Kas Entitas Induk                    98        Parent Entity’s Statements of Cash Flows

Investasi Entitas Induk dalam Entitas Anak        99        Parent Entity’s Investment in Subsidiaries
Page 233
  SURAT PERNYATAAN DIREKSI TENTANG                                          DIRECTORS' STATEMENT LETTER RELATING
                                                                                                                                a
  TANGGUNG JAWAB ATAS                                                       TO THE RESPONSIBILITY ON THE
  LAPORAN KEUANGAN KONSOLIDASIAN                                            CONSOLIDATED FINANCIAL STATEMENTS
  UNTUK TAHUN-TAHUN YANG BERAKHIR                                           FOR THE YEARS ENDED
  31 DESEMBER 2023 DAN 2022                                                 DECEMBER 31, 2023 AND 2022

  PT ESSA INDUSTRIES INDONESIA Tbk.                                         PT ESSA INDUSTRIES INDONESIA Tbk. (Formerly known as
  (dahulu PT SURYA ESA PERKASA Tbk.) DAN ENTITAS                            PT SURYA ESA PERKASA Tbk.) AND SUBSIDIARIES
  ANAK

   Kami yang bertanda tangan di bawah ini                                   We, the undersigned:

  1.   Nama                     Kanishk Laroya                               1. Name                       Kanishk Laroya
       Alamat kantor            DBS Bank Tower, Lantai 18                       Office address             DBS Bank Tower, 18th Floor
                                JI. Prof. Dr. Satrio., Kav. 3-5                                            JI. Prof. Or. Satrio., Kav. 3-5
                                Jakarta 12940                                                              Jakarta 12940

       Jabatan                  Presiden Direktur                               Title                      President Director

 2.    Nama                     Prakash Chand Bumb                          2. Name                        Prakash Chand Bumb
       Alamat kantor            DBS Bank Tower, Lantai 18                      Office address              DBS Bank Tower, 18th Floor
                                JI. Prof. Dr. Satrio., Kav. 3-5                                            JI. Prof. Dr. Satrio., Kav. 3-5
                                Jakarta 12940                                                              Jakarta 12940

       Jabatan                  Direktur                                        Title                      Director
  Menyatakan bahwa                                                          State that:
  1.   Kami bertanggung jawab atas penyusunan dan penyajian                  1. We are responsible for the preparation and presentation of
       laporan keuangan konsolidasian PT ESSA Industries                        the consolidated financial statements of PT ESSA
       Indonesia Tbk. (dahulu PT Surya Esa Perkasa Tbk.) dan                    Industries Indonesia Tbk. (Formerly known as PT Surya
       entitas anak;                                                            Esa Perkasa Tbk.) and subsidiaries;

  2.   Laporan keuangan konsolidasian PT ESSA Industries                     2. The consolidated financial statements of PT ESSA
       Indonesia Tbk. (dahulu PT Surya Esa Perkasa Tbk.) dan                    Industries Indonesia Tbk. (Formerly known as PT Surya
       entitas anak telah disusun dan disajikan sesuai dengan                   Esa Perkasa Tbk.) and subsidiaries have been prepared
       Standar Akuntansi Keuangan di Indonesia;                                 and presented in accordance with Indonesian Financial
                                                                                Accounting Standards;
  3.   a.    Semua informasi dalam laporan keuangan                          3. a.      All information contained in consolidated financial
             konsolidasian PT ESSA Industries Indonesia Tbk.                            statements of PT ESSA Industries Indonesia Tbk.
             (dahulu PT Surya Esa Perkasa Tbk.) dan entitas anak                        (Formerly known as PT Surya Esa Perkasa Tbk.) and
             telah dimuat secara lengkap dan benar;                                     subsidiaries is complete and correct;

       b.    Laporan keuangan konsolidasian PT ESSA Industries                  b.      The consolidated financial statements of PT ESSA
             Indonesia Tbk. (dahulu PT Surya Esa Perkasa Tbk.)                          Industries Indonesia Tbk. (Formerly known as PT
             dan entitas anak tidak mengandung informasi atau                           Surya Esa Perkasa Tbk.) and its subsidiaries do not
             fakta material yang tidak benar dan tidak                                  contain misleading material information or facts and
             menghilangkan informasi atau fakta material.                               do not omit material information or facts.
  4.   Kami bertanggung jawab atas sistem pengendalian intern                4. We are responsible for PT ESSA Industries Indonesia Tbk.
       dalam PT ESSA Industries Indonesia Tbk. (dahulu PT                       (Formerly known as PT Surya Esa Perkasa Tbk.) and its
       Surya Esa Perkasa Tbk.) dan entitas anaknya.                             subsidiaries internal control system.

  Demikian pernyataan ini dibuat dengan sebenarnya.                          This statement letter is made truthfully.

                                                    Jakarta, 31 Januari / January 31, 2024




                            Kanishk Laroya                                              Prakash Chand Bumb
                 � Presiden Direktur / President Director                                  Direktur / Director

PT ESSA Industries Indonesia Tbk.
DBS Bank Tower 18th Floor                   T +62 21 2988 5600
JI. Prof. Dr. Satrio Kav. 3-5               F +62 21 2988 5601
Jakarta 12940, Indonesia                    www.essa.id
Page 234

          
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Page 236

          
Page 237

          
Page 238

          
Page 239

          
Page 240

          
Page 241

          
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Page 243
                                                                            The original consolidated financial statements included herein are in
                                                                                                                           Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                          PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                         (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                          AND SUBSIDIARIES
LAPORAN POSISI KEUANGAN                                                   CONSOLIDATED STATEMENTS OF
KONSOLIDASIAN                                                             FINANCIAL POSITION
31 Desember 2023 dan 2022                                                 December 31, 2023 and 2022
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)                       (Expressed in US Dollar, unless otherwise stated)



                                      Catatan/
                                       Notes           2023                      2022

ASET                                                                                                 ASSETS

ASET LANCAR                                                                                          CURRENT ASSETS
Kas dan setara kas                            5             98.203.795           147.519.049         Cash and cash equivalents
Investasi pada obligasi                       9              5.000.000             5.000.000         Investment in bonds
Piutang usaha                                                                                        Trade receivables
   Pihak berelasi                             6             29.670.720             57.988.096            Related parties
   Pihak ketiga                               6              7.919.549              3.824.062            Third parties
Piutang lain-lain                                                                                    Other receivables
   Pihak ketiga                                                336.347                 93.849            Third parties
Persediaan                                   7              24.855.389             29.218.400        Inventories
Pajak dibayar dimuka                       17a               2.681.071              3.729.339        Prepaid taxes
Biaya dibayar dimuka dan uang muka           8               5.216.346             13.120.568        Prepayments and advances
Derivatif keuangan                          12               4.730.373             11.457.083        Financial derivatives
Uang jaminan                                                    28.310                 29.223        Security deposits
Aset lainnya                                                   197.789                552.781        Other assets

Jumlah Aset Lancar                                     178.839.689               272.532.450         Total Current Assets

ASET TIDAK LANCAR                                                                                    NON-CURRENT ASSETS
Investasi pada obligasi                       9                       -             5.000.000        Investment in bonds
Aset tetap - setelah dikurangi                                                                       Property, plant and equipment –
   akumulasi penyusutan sebesar                                                                          net of accumulated depreciation
   US$ 228.252.360 pada                                                                                  of US$ 228,252,360 of
   31 Desember 2023 dan                                                                                  December 31, 2023 and
   US$ 193.929.353 pada                                                                                  US$ 193,929,353 as of
   31 Desember 2022                         10         492.617.624               527.727.895             December 31, 2022
Goodwill                                    11          23.687.119                23.687.119         Goodwill
Derivatif keuangan                          12             297.815                 2.347.701         Financial derivatives

Jumlah Aset Tidak Lancar                               516.602.558               558.762.715         Total Non-Current Assets

JUMLAH ASET                                            695.442.247               831.295.165         TOTAL ASSETS




   Catatan atas laporan keuangan merupakan bagian yang                          The accompanying notes are an integral part of
   tidak terpisahkan dari laporan keuangan konsolidasian.                          these consolidated financial statements.

                                                                  1
Page 244
                                                                             The original consolidated financial statements included herein are in
                                                                                                                            Indonesian language.


PT ESSA INDUSTRIES INDONESIA TBK                                          PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                         (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                          AND SUBSIDIARIES
LAPORAN POSISI KEUANGAN                                                   CONSOLIDATED STATEMENTS OF
KONSOLIDASIAN                                                             FINANCIAL POSITION
31 Desember 2023 dan 2022                                                 December 31, 2023 and 2022
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)                       (Expressed in US Dollar, unless otherwise stated)



                                        Catatan/
                                         Notes          2023                      2022

 LIABILITAS DAN EKUITAS                                                                             LIABILITIES AND EQUITY

 LIABILITAS JANGKA PENDEK                                                                           CURRENT LIABILITIES
 Utang usaha                                                                                        Trade payables
    Pihak ketiga                              13             11.941.758             23.365.481        Third parties
 Utang lain-lain                                                 24.400                      -      Other payables
 Utang pajak                                 17b              1.375.288              1.307.196      Taxes payables
 Utang bank                                   14                      -              1.000.000      Bank loan
 Biaya masih harus dibayar                                    5.118.552              4.562.503      Accrued expenses
 Liabilitas jangka panjang yang jatuh                                                               Current maturity
    tempo dalam satu tahun                                                                            of long-term liabilities
    Utang bank                                14        105.914.993                 91.480.068        Bank loans
    Liabilitas sewa                           16            226.837                     82.160        Lease liabilities

 Jumlah Liabilitas Jangka Pendek                        124.601.828               121.797.408       Total Current Liabilities

 LIABILITAS JANGKA PANJANG                                                                          NON-CURRENT LIABILITIES
 Liabilitas jangka panjang – setelah
    dikurangi bagian yang jatuh tempo                                                               Long-term liabilities - net of current
    dalam satu tahun                                                                                  maturity
    Utang bank                                14             54.938.610           177.254.079         Bank loans
    Liabilitas sewa                           16                 68.162               146.211         Lease liabilities
 Liabilitas pajak tangguhan                  17e             13.326.486             2.860.904       Deferred tax liability
 Liabilitas imbalan kerja                     18              3.566.068             2.583.373       Employee benefits liability
 Provisi                                      15              1.197.452             1.289.090       Provisions

 Jumlah Liabilitas Jangka Panjang                            73.096.778           184.133.657       Total Non-Current Liabilities

 JUMLAH LIABILITAS                                      197.698.606               305.931.065       TOTAL LIABILITIES

 EKUITAS                                                                                            EQUITY
 Modal saham - nilai nominal Rp 10                                                                  Capital stock - par value of Rp 10
   per lembar saham                                                                                 per share
   Modal dasar - 22.000.000.000                                                                        Authorized capital – 22,000,000,000
     lembar saham                                                                                         shares
   Modal ditempatkan dan disetor -                                                                     Subscribed and paid-up
     17.226.975.700 lembar saham                                                                          17,226,975,700 shares at
     pada 31 Desember 2023 dan                                                                            December 31, 2023 and
     15.660.887.000 lembar saham                                                                          15,660,886,000 shares at
     pada 31 Desember 2022                    19         16.441.246                 15.405.610            December 31, 2022
 Tambahan modal disetor                       20        129.308.195                 90.902.649      Additional paid-in capital
                                                                                                    Difference in value of
 Selisih transaksi ekuitas dengan                                                                      equity transaction with
   pihak nonpengendali                                          282.808                282.808         non-controlling interests
 Penghasilan komprehensif lain                               23.097.390             21.293.229      Other comprehensive income
 Saldo laba                                                                                         Retained earnings
   Dicadangkan                                            3.081.122                 3.081.122          Appropriated
   Belum dicadangkan                                    207.053.739               221.420.134          Unappropriated

 Ekuitas yang dapat diatribusikan                                                                   Equity attributable to the owners
   kepada pemilik Perusahaan                            379.264.500               352.385.552         of the Company
 KEPENTINGAN NONPENGENDALI                    22        118.479.141               172.978.548       NON-CONTROLLING INTERESTS

 Jumlah Ekuitas                                         497.743.641               525.364.100       Total Equity

 JUMLAH LIABILITAS DAN EKUITAS                          695.442.247               831.295.165       TOTAL LIABILITIES AND EQUITY




    Catatan atas laporan keuangan merupakan bagian yang                          The accompanying notes are an integral part of
    tidak terpisahkan dari laporan keuangan konsolidasian.                          these consolidated financial statements.

                                                                   2
Page 245
                                                                            The original consolidated financial statements included herein are in
                                                                                                                           Indonesian language.


PT ESSA INDUSTRIES INDONESIA TBK                                          PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                         (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                          AND SUBSIDIARIES
LAPORAN LABA RUGI DAN                                                     STATEMENT OF PROFIT OR LOSS AND
PENGHASILAN KOMPREHENSIF LAIN                                             OTHER COMPREHENSIVE INCOME
Untuk tahun-tahun yang berakhir pada tanggal                              For the years ended
31 Desember 2023 dan 2022                                                 December 31, 2023 and 2022
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)                       (Expressed in US Dollar, unless otherwise stated)


                                          Catatan/
                                           Notes       2023                      2022

PENDAPATAN                                      23     344.961.625               731.490.734         REVENUES

BEBAN POKOK PENDAPATAN                          24     (241.784.688)            (390.327.992)        COST OF REVENUES

LABA KOTOR                                             103.176.937               341.162.742         GROSS PROFIT
Beban penjualan                                            (536.903)               (2.768.951)       Selling expenses
Beban umum dan administrasi                     25      (25.597.096)             (36.638.049)        General and administrative expenses
Penghasilan keuangan                                      2.527.219                   986.875        Finance income
Beban keuangan                                  26      (17.626.090)              (31.780.238)       Finance costs
Keuntungan dan kerugian
  lain-lain – neto                                            (155.750)             5.098.641        Other gains and losses - net

LABA SEBELUM                                                                                         PROFIT BEFORE
PAJAK PENGHASILAN                                           61.788.317           276.061.020         INCOME TAX

BEBAN PAJAK                                    17c      (15.064.880)              (55.270.694)       INCOME TAX EXPENSE

LABA BERSIH TAHUN BERJALAN                                  46.723.437           220.790.326         NET PROFIT FOR THE YEAR

PENGHASILAN KOMPREHENSIF                                                                             OTHER COMPREHENSIVE
LAIN                                                                                                 INCOME
Pos-pos yang tidak direklasifikasi                                                                   Items that will not be reclassified
  ke laba rugi:                                                                                          to profit or loss:
                                                                                                         Revaluation surplus of
  Surplus revaluasi aset tetap                  10           9.261.782                         -             property, plant and equipment
  Pengukuran kembali kewajiban                                                                           Remeasurement of defined
     imbalan pasti                              18            (275.394)                 (56.023)             benefits obligation
  Manfaat pajak terkait pos-pos                                                                          Income tax benefit
     yang tidak direklasifikasi di masa                                                                      relating to items that will not
     datang                                                    60.587                   12.325               be reclassified subsequently
Pos yang akan direklasifikasi                                                                        Item that will be reclassified
  ke laba rugi:                                                                                          to profit or loss:
  Instrumen lindung nilai arus kas              12          (8.776.596)            11.820.368            Cash flow hedging instrument
  Manfaat pajak terkait pos-pos                                                                          Income tax benefit
     yang akan direklasifikasi di masa                                                                       relating to items that will be
     datang                                                  1.930.852             (2.600.481)               reclassified subsequently

Jumlah laba komprehensif lain                                                                        Total other comprehensive income
  tahun berjalan setelah pajak                               2.201.231              9.176.189           for the year, net of tax

JUMLAH LABA KOMPREHENSIF                                                                             TOTAL COMPREHENSIVE
TAHUN BERJALAN                                              48.924.668           229.966.515         INCOME FOR THE YEAR

LABA BERSIH TAHUN BERJALAN                                                                           NET PROFIT FOR THE YEAR
YANG DAPAT DIATRIBUSIKAN KEPADA:                                                                     ATTRIBUTABLE TO:
  Pemilik Entitas Induk                                     34.614.652           138.841.074            Owners of the Company
  Kepentingan Nonpengendali                                 12.108.785            81.949.252            Non-controlling Interest

Laba bersih tahun berjalan                                  46.723.437           220.790.326         Net profit for the year

JUMLAH LABA KOMPREHENSIF                                                                             TOTAL COMPREHENSIVE INCOME
TAHUN BERJALAN YANG DAPAT                                                                            FOR THE YEAR
DIATRIBUSIKAN KEPADA :                                                                               ATTRIBUTABLE TO :
  Pemilik Entitas Induk                                     38.905.959           144.305.901            Owners of the Company
  Kepentingan Nonpengendali                                 10.018.709            85.660.614            Non-controlling Interests

Jumlah laba komprehensif                                                                             Total comprehensive income
  tahun berjalan                                            48.924.668           229.966.515            for the year

LABA PER SAHAM DASAR                                                                                 BASIC/DILUTED EARNINGS
  /DILUSIAN (dalam 1.000 saham)                 27               2,033                   8,865         PER SHARE (in 1,000 shares)


   Catatan atas laporan keuangan merupakan bagian yang                          The accompanying notes are an integral part of
   tidak terpisahkan dari laporan keuangan konsolidasian.                          these consolidated financial statements.

                                                                  3
Page 246
                                                                                                                                                                                                                                                                      The original consolidated financial statements included herein are in Indonesian language.
PT ESSA INDUSTRIES INDONESIA TBK                                                                                                                                                                   PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                                                                                                                                                  (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                                                                                                                                                   AND SUBSIDIARIES
LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN                                                                                                                                                            CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
Untuk tahun-tahun yang berakhir 31 Desember 2023 dan 2022                                                                                                                                          For the years ended December 31, 2023 and 2022
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)                                                                                                                                                (Expressed in US Dollar, unless otherwise stated)
                                                                                                               Penghasilan komprehensif lain/Other comprehensive income
                                                                                              Selisih           Selisih kurs
                                                                                             Transaksi              karena                                     Pengukuran                                                                     Ekuitas yang
                                                                                          ekuitas dengan         penjabaran             Surplus                  kembali                                                                           dapat
                                                                                            pihak non-             laporan             revaluasi                kewajiban                                                                    diatribusikan
                                                                                            pengendali/          keuangan/            aset tetap/                imbalan         Instrumen                                                   kepada pemilik
                                                                                           Difference in          Exchange              Surplus                    pasti/      lindung nilai         Saldo laba/Retained earnings              Perusahaan/
                                                    Modal             Tambahan            value of equity         difference        revaluation of           Remeasurement        arus kas/                                                        Equity         Kepentingan
                                                   disetor/          modal disetor/      transaction with      from financial          property,                of defined       Cash flow                                  Belum             attributable to    nonpengendali/       Jumlah
                                      Catatan/     Paid-up             Additional         non-controlling        statements            plant and                 benefits         hedging           Dicadangkan/         Dicadangkan/         the owners of      Non-controlling      ekuitas/
                                       Notes     capital stock       paid-in capital         interests           translation          equipment                 obligation      instrument          Appropriated        Unappropriated        the Company           interests       Total equity
Saldo per 1 Januari 2022                            15.405.610          90.902.649              282.808            (1.512.357)          18.164.208                 734.991           928.706            2.166.100           86.390.661          213.463.376         87.317.934        300.781.310        Balance as of January 1, 2022
Laba bersih tahun berjalan                                       -                   -                     -                    -                        -                -                    -                -         138.841.074           138.841.074         81.949.252        220.790.326        Net profit for the year
Dividen                                    21                    -                   -                     -                    -                        -                -                    -                -           (5.383.725)           (5.383.725 )                -         (5.383.725)      Dividend
Cadangan umum                              21                                                                                                                                                  -         915.022              (915.022)                     -                 -                    -     General reserve
Penghasilan komprehensif lain -                                                                                                                                                                                                                                                                          Other comprehensive income -
  setelah pajak                                                  -                   -                     -                    -                        -         (67.105 )       5.531.932                    -                    -            5.464.827           3.711.362          9.176.189         net of tax
Reklasifikasi cadangan                                                                                                                                                                                                                                                                                   Reclassification of the revaluation
  revaluasi dari penghasilan                                                                                                                                                                                                                                                                               reserve from other
  komprehensif lain                                                                                                                                                                                                                                                                                        comprehensive income to
  ke saldo laba                                                  -                 -                   -                    -           (2.487.146 )                      -                    -                -            2.487.146                      -                 -                    -       retained earnings
Saldo per 31 Desember 2022                          15.405.610          90.902.649              282.808            (1.512.357)          15.677.062                 667.886         6.460.638            3.081.122         221.420.134           352.385.552        172.978.548        525.364.100        Balance as of December 31, 2022
Penambahan modal disetor tanpa                                                                                                                                                                                                                                                                           Shares issued with non pre-emptive
  hak memesan terlebih dulu              19,20       1.035.636         105.117.050                     -                    -                        -                    -                    -                -                    -          106.152.686                   -       106.152.686          rights
Biaya emisi saham                          20                               (49.451)                   -                    -                        -                    -                    -                -                    -               (49.451 )                -            (49.451)      Share issuance cost
Penyesuaian ekuitas yang dapat
  diatribusikan ke entitas induk                                                                                                                                                                                                                                                                         Equity adjustment attributable
  dan non-pengendali                       20                    -      (66.662.053)                   -                    -                        -                    -                    -                -                        -      (66.662.053 )              (284)       (66.662.337)        to parent and non-controlling
Perubahan porsi kepemilikan                                                                                                                                                                                                                                                                              Changes in portion of
  kepentingan non-pengendali               22                    -                 -                   -                    -                        -                    -                    -                -                    -                      -       (44.517.663)       (44.517.663)        non-controlling interest
Laba bersih tahun berjalan                                       -                 -                   -                    -                        -                    -                    -                -           34.614.652           34.614.652          12.108.785         46.723.437       Net profit for the year
Dividen                                    21                    -                 -                   -                    -                        -                    -                    -                -          (51.468.193)         (51.468.193 )       (20.000.169)       (71.468.362)      Dividend
Penghasilan komprehensif lain -                                                                                                                                                                                                                                                                          Other comprehensive income -
  setelah pajak                                                  -                 -                   -                    -            9.261.782                (178.622 )       (4.791.853 )                     -                -            4.291.307          (2.090.076)         2.201.231         net of tax
Reklasifikasi cadangan                                                                                                                                                                                                                                                                                   Reclassification of the revaluation
  revaluasi dari penghasilan                                                                                                                                                                                                                                                                               reserve from other
  komprehensif lain                                                                                                                                                                                                                                                                                        comprehensive income to
  ke saldo laba                                                  -                 -                   -                    -           (2.487.146)                       -                    -                -            2.487.146                      -                 -                    -       retained earnings
Saldo per 31 Desember 2023                          16.441.246         129.308.195              282.808            (1.512.357)          22.451.698                 489.264         1.668.785            3.081.122         207.053.739           379.264.500        118.479.141        497.743.641        Balance as of December 31, 2023
                                   Catatan atas laporan keuangan merupakan bagian yang tidak terpisahkan dari                                                                                                             The accompanying notes are an integral part of these consolidated financial statements.
                                                         laporan keuangan konsolidasian.
                                                                                                                                                                               4
Page 247
                                                                            The original consolidated financial statements included herein are in
                                                                                                                           Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                          PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                         (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                          AND SUBSIDIARIES
LAPORAN ARUS KAS KONSOLIDASIAN                                            CONSOLIDATED STATEMENT OF CASH FLOWS
Untuk tahun-tahun yang berakhir                                           For the years ended
31 Desember 2023 dan 2022                                                 December 31, 2023 and 2022
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)                       (Expressed in US Dollar, unless otherwise stated)



                                      Catatan/
                                       Notes           2023                      2022

ARUS KAS DARI AKTIVITAS                                                                              CASH FLOWS FROM OPERATING
OPERASI                                                                                              ACTIVITIES
Penerimaan dari pelanggan                              369.183.514               689.554.396         Received from customer
Pembayaran kas kepada pemasok                                                                        Payment to suppliers and
  dan karyawan                                         (222.444.132)             374.440.362            employees

Kas dihasilkan dari operasi                            146.739.382               315.114.034         Cash generated from operations
  Pembayaran pajak penghasilan                          (2.758.651)               (4.418.606)           Income tax paid
  Pengembalian pajak                        17f          4.791.736                 3.237.111            Tax refund
  Penerimaan bunga                                       2.527.219                   814.953            Interest received
  Klaim asuransi                                                 -                 4.002.865            Insurance claim

Kas bersih yang diperoleh dari                                                                       Net cash provided by operating
  aktivitas operasi                                    151.299.686               318.750.357            activities

ARUS KAS DARI AKTIVITAS                                                                              CASH FLOWS FROM INVESTING
INVESTASI                                                                                            ACTIVITIES
                                                                                                     Acquisition of property, plant
Perolehan aset tetap                        10              (2.658.748)            (1.432.257)          and equipment
                                                                                                     Proceeds from disposal of property,
Hasil penjualan aset tetap                                       1.666                124.553           plant and equipment
Pencairan (penambahan) investasi                                                                     Dishbursment (additional)
  pada obligasi                               9              5.000.000            (10.000.000)          of Investment in bonds
Pembayaran kepada kepentingan
  nonpengendali                                             (5.027.314)                        -     Payment to non-controlling interest

Kas bersih digunakan untuk                                                                           Net cash used in
  aktivitas investasi                                       (2.684.396)           (11.307.704)          investing activities

ARUS KAS DARI AKTIVITAS                                                                              CASH FLOWS FROM FINANCING
PENDANAAN                                                                                            ACTIVITIES
Penerimaan pinjaman dari utang bank         33              22.000.000             59.000.000        Proceeds from bank loans
Pembayaran utang bank                                                                                Payment to bank loans
  Jangka pendek                             33          (23.000.000)             (79.000.000)            Short term
  Jangka panjang                            33         (111.480.068)            (189.331.970)            Long term
Pembayaran bunga pinjaman                               (22.969.760)             (28.238.552)        Payment of interest
Pembayaran biaya keuangan lain                           (1.183.832)                (843.632)        Payment of other financial charges
Pembayaran dividen kepada                                                                            Dividend payment to
  kepentingan nonpengendali                             (20.000.169)                        -            non-controlling interest
Pembayaran liabilitas sewa                  33              (81.123)                 (242.998)       Payment of lease liabilities
Penerimaan swap interest                                 10.252.601                 3.276.095        Receipt of interest swap
Pembayaran dividen                          21          (51.468.193)               (5.383.725)       Dividend payment

Kas bersih digunakan untuk
  aktivitas pendanaan                                  (197.930.544)            (240.764.782)        Net cash used in financing activities

KENAIKAN (PENURUNAN) BERSIH                                                                          NET INCREASE (DECREASE) IN
KAS DAN SETARA KAS                                      (49.315.254)               66.677.871        CASH AND CASH EQUIVALENTS

KAS DAN SETARA KAS                                                                                   CASH AND CASH EQUIVALENTS
AWAL TAHUN                                             147.519.049                 80.841.178        AT BEGINNING OF YEAR

KAS DAN SETARA KAS                                                                                   CASH AND CASH EQUIVALENTS
AKHIR TAHUN                                                 98.203.795           147.519.049         AT END OF YEAR




   Catatan atas laporan keuangan merupakan bagian yang                          The accompanying notes are an integral part of
   tidak terpisahkan dari laporan keuangan konsolidasian.                          these consolidated financial statements.

                                                                  5
Page 248
                                                                     The original consolidated financial statements included herein are in
                                                                                                                    Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                               (formerly SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                   STATEMENTS
31 Desember 2023 dan 2022                                       December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                             and for the years then ended
pada tanggal tersebut                                           (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


1.   UMUM                                                       1.    GENERAL

     a.   Pendirian dan Informasi Umum                                a.    Establishment and General Information

          PT     ESSA    Industries    Indonesia    Tbk                     PT     ESSA      Industries  Indonesia    Tbk
          ("Perusahaan")    didirikan   dengan    nama                      (the “Company”) was established under the
          PT Surya Esa Perkasa Tbk berdasarkan akta                         name of PT Surya Esa Perkasa Tbk based on
          notaris No. 7 tanggal 24 Maret 2006 dari                          the notarial deed No. 7 dated March 24, 2006
          Hasbullah Abdul Rasyid, S.H., M.Kn., notaris di                   of Hasbullah Abdul Rasyid, S.H., M.Kn., notary
          Jakarta dalam kerangka Undang-Undang                              in Jakarta, within the framework of Domestic
          Penanaman Modal Dalam Negeri No. 6 tahun                          Capital Law No. 6 Year 1968. Law No. 12 Year
          1968. Undang-Undang No. 12 tahun 1970.                            1970. The deed of establishment was
          Akta pendirian ini disahkan oleh Menteri                          approved by Ministry of Justice of the
          Kehakiman Republik Indonesia dalam Surat                          Republic of Indonesia in its Decision Letter
          Keputusannya No. C-13339 HT.01.01.Th.2006                         No. C-13339 HT.01.01.Th.2006 dated May 9,
          tanggal 9 Mei 2006. Akta pendirian ini telah                      2006. The deed of establishment was
          diumumkan dalam Berita Negara Republik                            published in the State gazette of Republic of
          Indonesia No. 76, tanggal 23 September 2011,                      Indonesia No. 76, dated September 23, 2011,
          Tambahan No. 29332.                                               Supplement No. 29332.

          Berdasarkan akta notaris No. 42 tanggal                           Based on notarial deed No. 42 dated February
          8 Februari 2023 dari Jimmy Tanal, S.H., M.Kn.,                    8, 2023 from Jimmy Tanal, S.H., M.Kn., notary
          notaris    di   Jakarta,   Anggaran     Dasar                     in Jakarta, the Company’s Article of
          Perusahaan mengalami perubahan tentang                            Association     were    amended      regarding
          penambahan modal ditempatkan dan disetor                          increasing the subscribed and paid up capital
          dari    hasil  penerbitan   saham     dengan                      resulting from the addition of capital by
          Penambahan Modal Tanpa Hak Memesan                                granting capital increase with non pre-emptive
          Efek     Terlebih    Dahulu   (PMTHMETD).                         rights (PMTHMETD). This change was
          Perubahan ini telah mendapat persetujuan                          approved by the Ministry of Law and Human
          Kementerian Hukum dan Hak Asasi Manusia                           Rights of the Republic of Indonesia in his
          Republik Indonesia dalam Surat Keputusannya                       Decision Letter No. AHU-AH.01.03- 0036060
          No. AHU-AH. 01.03-0036060 tahun 2023                              year 2023 dated March 7, 2023.
          tanggal 7 Maret 2023.

          Anggaran dasar Perusahaan telah mengalami                         The Company’s Articles of Association has
          perubahan terakhir dengan akta notaris No. 36                     been amended most recently by notarial deed
          tanggal 4 Oktober 2023 dari Jimmy Tanal,                          No. 36 dated October 4, 2023 from Jimmy
          S.H., M.Kn., notaris di Jakarta tentang                           Tanal, S.H., M.Kn., notary in Jakarta regarding
          perubahan nama dari Perusahaan. Perubahan                         changes of the Company’s name. This change
          ini telah mendapat persetujuan Kementerian                        was approved by the Ministry of Law and
          Hukum dan Hak Asasi Manusia Republik                              Human Rights of the Republic of Indonesia in
          Indonesia    dalam    Surat    Keputusannya                       his     Decision      Letter     No.      AHU-
          No. AHU-AH.0061148.AH.01.02 tahun 2023                            AH.0061148.AH.01.02 year 2023 dated
          tanggal 9 Oktober 2023.                                           October 9, 2023.

          Perusahaan berdomisili di Jakarta dengan                          The Company is domiciled in Jakarta and its
          pabrik berlokasi di Simpang Y, Palembang,                         plant is located in Simpang Y, Palembang,
          Sumatera Selatan. Kantor pusat Perusahaan                         South Sumatera. The Company’s head office
          beralamat di DBS Bank Tower, Lantai 18,                           is located in DBS Bank Tower, 18th Floor,
          Jalan Prof. Dr. Satrio, Kav. 3-5, Jakarta,                        Jalan Prof. Dr. Satrio, Kav. 3-5, Jakarta,
          12940, Indonesia.                                                 12940, Indonesia.




                                                            6
Page 249
                                                                     The original consolidated financial statements included herein are in
                                                                                                                    Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                               (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                   STATEMENTS
31 Desember 2023 dan 2022                                       December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                             and for the years then ended
pada tanggal tersebut                                           (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


1.   UMUM (lanjutan)                                            1.    GENERAL (continued)

     a.   Pendirian dan Informasi Umum (lanjutan)                     a.    Establishment          and     General       Information
                                                                            (continued)

          Sesuai dengan pasal 3 Anggaran Dasar                              In accordance with Article 3 of the Articles of
          Perusahaan,       kegiatan    usaha    utama                      Association of the Company, the main
          Perusahaan meliputi industri bahan bakar dan                      business activities of Company comprise of
          produk dari pemurnian dan pengilangan                             fuel industry and products from refining and
          minyak bumi dan gas seperti LPG dan                               processing oil and gas such as LPG and
          kondensat, industri kimia dasar organik yang                      condensate, basic chemical industry sourced
          bersumber dari minyak bumi, gas alam dan                          from oil, natural gas and coal, procurement of
          batu bara, pengadaan gas alam dan buatan,                         natural and artificial gas, oil mining, large-scale
          pertambangan minyak bumi perdagangan                              trade of solid, liquid, and gas fuels and
          besar bahan bakar padat, cair, dan gas dan                        products related to that, the industrial products
          produk yang berhubungan dengan itu industri                       from oil refineries and the distribution of
          produk dari hasil kilang minyak bumi serta                        natural and artificial gas and the supporting
          distribusi gas alam dan buatan serta aktivitas                    activities of oil and other natural gas mining.
          penunjang pertambangan minyak bumi dan                            The Company started its commercial
          gas alam lainnya. Perusahaan mulai                                operations in September 2007. The Company
          berproduksi secara komersial pada bulan                           and subsidiaries (The “Group”) had an
          September       2007.     Jumlah    karyawan                      average total number of employees of 412 at
          Perusahaan dan entitas anak (Grup) rata-rata                      December        31,     2023     and      366    at
          412 karyawan pada 31 Desember 2023 dan                            December 31, 2022, respectively.
          366 karyawan pada 31 Desember 2022.

          Susunan manajemen Perusahaan pada                                 The        Company’s  management         at
          tanggal 31 Desember 2023 dan 2022 adalah                          December 31, 2023 and 2022 consists of the
          sebagai berikut:                                                  following:

                                              2023                            2022

          Presiden Komisaris dan                                                                     President and Independent
          Komisaris Independen       Hamid Awaluddin                   Hamid Awaluddin                            Commissioner
          Wakil Presiden Komisaris   Chander Vinod Layora                             -            Vice President Commissioner
          Komisaris                  Arif Rachmat                          Arif Rachmat                         Commissioners
                                     Rahul Puri                              Rahul Puri
          Komisaris Independen       Ida Bagus Rahmadi               Ida Bagus Rahmadi                Independent Commissioner
                                     Supancana                              Supancana

          Presiden Direktur          Kanishk Laroya             Chander Vinod Laroya                             President Director
          Wakil Presiden Direktur    -                                Kanishk Laroya                        Vice President Director
          Direktur                   Mukesh Agrawal                       Isenta Hioe                                    Directors
                                     Prakash Chand Bumb              Mukesh Agrawal
                                     Isenta                     Prakash Chand Bumb

          Ketua Komite Audit         Hamid Awaluddin              Ida Bagus Rahmadi                Chairman of Audit Committee
                                                                          Supancana
          Anggota                    Herry Bertus Wiseno         Herry Bertus Wiseno                                         Members
                                     Arina Imamawati                      Widjanarko
                                                                            Suhartati




                                                            7
Page 250
                                                                                                The original consolidated financial statements included herein are in
                                                                                                                                               Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                                           PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                                          (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                                           AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                                              STATEMENTS
31 Desember 2023 dan 2022                                                                  December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                                        and for the years then ended
pada tanggal tersebut                                                                      (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


1.   UMUM (lanjutan)                                                                       1.       GENERAL (continued)

     b.   Entitas Anak yang Dikonsolidasi                                                           b.   Consolidated Subsidiaries

          i.   Perusahaan memiliki baik      langsung                                                    i. The Company has ownership interest of
               maupun tidak langsung, lebih dari 50%                                                        more than 50%, directly or indirectly, in the
               saham entitas anak berikut:                                                                  following subsidiaries:
                                                                                    Persentase kepemilikan/             Tahun           Jumlah aset sebelum eliminasi/
                                                                                    Percentage of ownership            operasi          Total assets before elimination
                                                                                                                      komersial/
                                               Jenis usaha/                        31 Desember/      31 Desember/      Year of         31 Desember/     31 Desember/
               Entitas Anak/      Domisili/     Nature of           Kepemilikan/   December 31       December 31,    commercial        December 31,     December 31,
               Subsidiaries       Domicile      business             Ownership         2023              2022        operations            2023             2022

                                                                                                                                          US$                US$

               PT ESSA            Jakarta     Jasa konsultasi          Dimiliki        99,999%            99,999%        Dorman/       610.619.374           734.955.312
               Chemicals                      bisnis dan               secara                                            Dormant
               Indonesia (ECI)                manajemen/             langsung/
               (dahulu/formerly               Management               Owned
               PT SEPCHEM)                    and business             directly
                                              consulting services

               PT Panca Amara Jakarta         Pengoperasian    Dimiliki secara         70,000%            59,464%            2018      610.393.399           734.955.004
               Utama (PAU)                    pabrik ammonia/ tidak langsung
                                              Operates          melalui ECI/
                                              ammonia plant   Owned indirectly
                                                                through ECI
                                                               Dimiliki secara                  -          0,536%                  -              -                       -
                                                                 langsung/
                                                              Owned directly

               PT Ogspiras        Jakarta     Penjualan gas      Dimiliki secara       99,999%            99,999%            2007                26                    50
               Basya                          mentah melalui        langsung/
               Pratama (OBP)                  pipa/ Raw feed     Owned directly
                                              gas sales through
                                              pipelines
                                                                 Dimiliki secara          0,001%           0,001%                  -              -                       -
                                                                 tidak langsung
                                                                   melalui ECI/
                                                                Owned indirectly
                                                                   through ECI


               ECI (dahulu SEPCHEM)                                                                         ECI (formerly SEPCHEM)

               Berdasarkan akta notaris No. 4 tanggal                                                       Based on notarial deed No. 4 dated August
               3 Agustus 2011, oleh Ny. Etty Roswitha                                                       3, 2011, of Ms. Etty Roswitha Moelia, S.H.,
               Moelia, S.H., notaris di Jakarta dan telah                                                   notary in Jakarta that has been accepted
               diterima serta disahkan berdasarkan Surat                                                    and approved by Decree of the Ministry of
               Keputusan Kementerian Hukum dan Hak                                                          Justice and Human Rights of the Republic
               Asasi    Manusia     Republik    Indonesia                                                   of Indonesia No. AHU-AH.01.10-32772
               No.      AHU-AH.01.10-32772        tanggal                                                   dated October 21, 2011, the Company
               21      Oktober     2011,      Perusahaan                                                    acquired 99.95% ECI's shares.
               mengakuisisi 99,95% saham ECI.




                                                                                      8
Page 251
                                                                      The original consolidated financial statements included herein are in
                                                                                                                     Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                 PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                 AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                    STATEMENTS
31 Desember 2023 dan 2022                                        December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                              and for the years then ended
pada tanggal tersebut                                            (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


1.   UMUM (lanjutan)                                             1.    GENERAL (continued)

     b.   Entitas Anak yang Dikonsolidasi (lanjutan)                   b.    Consolidated Subsidiaries (continued)

          i.   Perusahaan memiliki, baik langsung                            i. The Company has ownership interest of
               maupun tidak langsung, lebih dari 50%                            more than 50%, directly or indirectly, in the
               saham entitas anak berikut: (lanjutan)                           following subsidiaries: (continued)

               ECI (dahulu SEPCHEM) (lanjutan)                                   ECI (formerly SEPCHEM) (continued)

               Berdasarkan akta notaris No. 42 tanggal                           Based on notarial deed No. 42 dated
               24 Februari 2023, yang dibuat oleh                                February 24, 2023, made by Emmyra
               Emmyra Fauzia Kariana, S.H., M.Kn.,                               Fauzia Kariana, S.H., M.Kn., notary in
               notaris di Jakarta dan telah diterima serta                       Jakarta that has been accepted and
               disahkan berdasarkan Surat Keputusan                              approved by Decree of the Ministry of
               Kementerian Hukum dan Hak Asasi                                   Justice and Human Rights No. AHU-
               Manusia     No.    AHU-0013514.AH.01.02                           0013514.AH.01.02 dated March 02, 2023,
               tanggal 02 Maret 2023, para pemegang                              the shareholders of ECI agreed to increase
               saham      ECI    menyetujui     melakukan                        the issuance of subscribed and paid up
               peningkatan modal ditempatkan dan                                 capital amounting to Rp 1.779,065,928,000
               disetor sebesar Rp 1.779.065.928.000                              (equivalent to US$ 117,144,000) so the
               (setara    dengan     US$     117.144.000)                        subscribed and paid up capital has
               sehingga modal ditempatkan dan disetor                            increased from Rp 1,830,000,000,000
               meningkat dari Rp 1.830.000.000.000                               (equivalent to US$ 142,294,706) to
               (setara dengan US$ 142.294.706) menjadi                           Rp 3,609,065,928,000 (equivalent to
               Rp 3.609.065.928.000 (setara dengan                               US$ 259,438,706). The subscribed and
               US$ 259.438.706). Peningkatan modal                               paid up capital increase was carried out
               ditempatkan dan disetor tersebut dilakukan                        entirely by the Company.
               sepenuhnya oleh Perusahaan.

               Anggaran Dasar ECI telah mengalami                                ECI’s Articles of Association have been
               perubahan terakhir dengan akta notaris                            amended most recently by notarial deed
               No. 120 tanggal 16 Oktober 2023 dari                              No. 120 dated October 16, 2023 from
               Jimmy Tanal, S.H., M.Kn., notaris di                              Jimmy Tanal, S.H., M.Kn., notary in Jakarta
               Jakarta tentang perubahan nama menjadi                            regarding change of name become ECI.
               ECI. Akta ini telah mendapat persetujuan                          The amendment of the deed was approved
               Kementerian Hukum dan Hak Asasi                                   by the Ministry of Law and Human Rights of
               Manusia Republik Indonesia dalam Surat                            the Republic of Indonesia in his Decision
               Keputusannya       No.   AHU-AH.01.03-                            Letter No. AHU-AH.01.03-0131092 year
               0131092 tahun 2023 tanggal 19 Oktober                             2023 dated October 19, 2023.
               2023.

               PAU                                                               PAU

               Berdasarkan akta jual beli dan pengalihan                         Pursuant to deed of sale and purchase and
               saham No. 2 tanggal 9 Juni 2011 yang                              transfer of shares No. 2 dated June 9, 2011
               dibuat oleh Ny. Etty Roswitha Moelia, S.H.,                       made by Ms. Etty Roswitha Moelia, S.H.,
               notaris     di    Jakarta,    Perusahaan                          notary in Jakarta, the Company acquired
               mengakuisisi 10% kepemilikan saham                                10% equity ownership equivalent to 12,500
               setara dengan 12.500 saham PAU.                                   shares of PAU.




                                                             9
Page 252
                                                                                            The original consolidated financial statements included herein are in
                                                                                                                                           Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                                       PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                                      (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                                       AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                                          STATEMENTS
31 Desember 2023 dan 2022                                                              December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                                    and for the years then ended
pada tanggal tersebut                                                                  (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


1.   UMUM (lanjutan)                                                                   1.      GENERAL (continued)

     b.   Entitas Anak yang Dikonsolidasi (lanjutan)                                           b.   Consolidated Subsidiaries (continued)

          i.   Perusahaan memiliki, baik langsung                                                   i. The Company has ownership interest of
               maupun tidak langsung, lebih dari 50%                                                   more than 50%, directly or indirectly, in the
               saham entitas anak berikut: (lanjutan)                                                  following subsidiaries: (continued)

               PAU (lanjutan)                                                                                PAU (continued)

               Anggaran Dasar PAU telah mengalami                                                            PAU’s Articles of Association have been
               beberapa kali perubahan, terakhir dengan                                                      amended several times, most recently by
               akta     notaris    No.     43      tanggal                                                   notarial deed No. 43 dated February 24,
               24 Februari 2023, yang dibuat oleh                                                            2023, made by Emmyra Fauzia Kariana,
               Emmyra Fauzia Kariana, S.H., M.Kn.,                                                           S.H., M.Kn., notary in Jakarta and
               notaris di Jakarta dan telah diterima serta                                                   approved by Decree of the Ministry of
               disahkan berdasarkan Surat Keputusan                                                          Justice and Human Rights No AHU-
               Kementerian Hukum dan Hak Asasi                                                               AH.01.09-0097521 dated March 1, 2023,
               Manusia     No.    AHU-AH.01.09-0097521                                                       the shareholders of PAU agreed to transfer
               tanggal 1 Maret 2023, para pemegang                                                           rights of shares belonging to the Company
               saham PAU menyetujui rencana untuk                                                            amounting 245,520 shares with nominal
               pengalihan hak atas saham milik                                                               value Rp 245,520,000,000 (equivalent to
               Perusahaan sebanyak 245.520 saham                                                             US$ 25,389,223) to ECI.
               dengan nilai nominal Rp 245.520.000.000
               (setara dengan US$ 25.389.223) kepada
               ECI.

               OBP                                                                                           OBP

               Berdasarkan akta notaris No. 28 tanggal                                                       Based on notarial deed No. 28 dated
               26 Mei 2017, oleh Titi Indrasari, S.H.,                                                       May 26, 2017, of Titi Indrasari, S.H., notary
               notaris di Jakarta dan telah diterima serta                                                   in Jakarta that has been accepted and
               disahkan berdasarkan Surat Keputusan                                                          approved by Decree of the Ministry of
               Kementerian Hukum dan Hak Asasi                                                               Justice and Human Rights of the Republic
               Manusia Republik Indonesia No. AHU-                                                           of Indonesia No. AHU-AH.01.03-01432343
               AH.01.03-0142343 tanggal 5 Juni 2017,                                                         dated June 5, 2017, the Company acquired
               Perusahaan mengakuisisi 99,999% saham                                                         99.999% OBP’s shares and SEPCHEM
               OBP dan SEPCHEM mengakuisisi 0,001%                                                           acquired 0.001% OBP’s shares.
               saham OBP.

          ii. Rincian entitas anak yang tidak dimiliki                                              ii. Details of non-wholly owned subsidiary that
              sepenuhnya yang memiliki kepentingan                                                      has material non-controlling interest to the
              non pengendali material terhadap Grup:                                                    Group:
                                                              Persentase kepemilikan                           Laba (rugi) dialokasikan kepada      Akumulasi kepentingan
                                                           oleh kepentingan nonpengendali/                     kepentingan nonpengendali/              nonpengendali/
                                                              Percentage of ownership             Tahun          Profit (loss) allocated to       Accumulated non-controlling
                                            Kegiatan       held by non-controlling interests     operasi         non-controlling interests                interests
                                             Usaha                                              komersial/
                  Entitss                    utama/        31 Desember/    31 Desember/          Year of       31 Desember/    31 Desember/      31 Desember /   31 Desember/
                   anak/      Domisili/     Nature of      December 31,     December 31,       commercial      December 31,    December 31,      December 31,    December 31,
                 Subsidiary   Domicile      business           2023             2022           operations          2023             2022             2023            2022

                                                                 %                %                                 US$             US$              US$             US$

               PAU              Jakarta   Pengoperasian          30               40                  2018        12.108.785      81.949.252       118.479.141       172.978.548
                                          pabrik amonia/
                                            Operates
                                          ammonia plant




                                                                               10
Page 253
                                                                     The original consolidated financial statements included herein are in
                                                                                                                    Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                               (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                   STATEMENTS
31 Desember 2023 dan 2022                                       December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                             and for the years then ended
pada tanggal tersebut                                           (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


1.   UMUM (lanjutan)                                            1.    GENERAL (continued)

     c.   Penawaran Umum Efek Perusahaan                              c.    Public Offering of Shares of the Company

          Berdasarkan      Surat   Keputusan    Edaran                      Based on the Resolutions of the Company’s
          Pemegang Saham Perusahaan sebagai                                 stockholders as the replacement of the
          pengganti Rapat Umum Pemegang Saham                               General Stockholders’ Meeting as stated in
          Perusahaan sebagaimana dinyatakan dalam                           notarial deed No. 103 dated October 19, 2011,
          akta notaris No. 103 tanggal 19 Oktober 2011,                     of Andalia Farida, S.H., M.H., notary in
          dari Andalia Farida, S.H., M.H., notaris di                       Jakarta, the Company’s stockholders agreed
          Jakarta, para pemegang saham Perusahaan                           to:
          menyetujui untuk:

             melakukan   kapitalisasi   saldo  laba                             capitalize  the    Company’s      retained
              Perusahaan sebesar US$ 5.093.167                                    earnings of US$ 5,093,167 (equivalent
              (setara dengan Rp 45.100.000.000)                                   with Rp 45,100,000,000) to the issued and
              menjadi modal ditempatkan dan disetor                               paid-up    capital  with     proportionate
              dengan pembagian yang proporsional                                  allocation with the ownership of the
              dengan kepemilikan dari para pemegang                               Company’s existing stockholders.
              saham Perusahaan.
             melakukan Penawaran Umum Perdana                                   perform the Initial Public Offering (IPO)
              saham Perusahaan melalui penambahan                                 through the issuance of the new
              saham baru sebanyak 250.000.000                                     250,000,000 shares.
              lembar saham.

          Pada tanggal 1 Februari 2012, Perusahaan                          On February 1, 2012, the Company converted
          melakukan konversi atas liabilitas Obligasi                       its  Mandatory    Convertible   Bond   into
          Wajib Konversi menjadi 200.000.000 lembar                         200,000,000 new shares of the Company.
          saham baru Perusahaan.

          Berdasarkan Rapat Umum Pemegang Saham                             Based on the General Meeting of the
          Perusahaan sebagaimana dinyatakan dalam                           Company’s stockholders as stated in notarial
          akta notaris No. 107 tanggal 27 September                         deed No. 107 dated September 27, 2013 of
          2013 dari Ny. Aryanti Artasari, S.H., M.Kn.,                      Mrs. Aryanti Artasari, S.H., M.Kn., notary in
          notaris di Jakarta, para pemegang saham                           Jakarta, the Company’s stockholders agreed
          Perusahaan menyetujui untuk menambah                              to increase the Company’s capital without
          modal Perusahaan tanpa hak memesan efek                           pre-emptive rights for 100,000,000 shares.
          terlebih dahulu sebanyak 100.000.000 lembar
          saham.

          Berdasarkan Rapat Umum Pemegang Saham                             Based on the Extraordinary General Meeting
          Luar     Biasa   Perusahaan    sebagaimana                        of the Company’s stockholders as stated in
          dinyatakan dalam akta notaris No. 3 tanggal                       notarial deed No. 3 dated October 9, 2017 of
          9 Oktober 2017 dari Ny. Grace Supena                              Mrs. Grace Supena Sundah, S.H., notary in
          Sundah, S.H., notaris di Jakarta, para                            Jakarta, the Company’s stockholders agreed
          pemegang saham Perusahaan menyetujui                              to have a stock split from 1 share into 10
          untuk melakukan pemecahan 1 lembar saham                          shares and all shares resulting from the stock
          menjadi 10 lembar saham dan semua lembar                          split have been distributed to all shareholders
          saham hasil dari pemecahan saham telah                            as of November 1, 2017.
          didistribusikan kepada semua pemegang
          saham pada tanggal 1 November 2017.

          Berdasarkan       pernyataan    efektif   yang                    Based on the effective statement issued by
          diterbitkan oleh Otoritas Jasa Keuangan pada                      Otoritas Jasa Keuangan on January 22, 2018,
          22 Januari, 2018, Perusahaan menerbitkan                          the Company issued 3,300,000,000 new
          3.300.000.000 lembar saham baru dengan                            shares with a nominal value of Rp 10 per
          nilai nominal Rp 10 per lembar saham pada                         share on February 9, 2018 and all shares
          9 Februari 2018 dan semua saham dari hasil                        resulting from the addition of capital by
          penerbitan saham dengan HMETD telah                               granting HMETD have been distributed as of
          didistribusikan pada tanggal 14 Februari 2018.                    February 14, 2018.

                                                           11
Page 254
                                                                               The original consolidated financial statements included herein are in
                                                                                                                              Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                          PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                         (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                          AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                             NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                             STATEMENTS
31 Desember 2023 dan 2022                                                 December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                       and for the years then ended
pada tanggal tersebut                                                     (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


1.   UMUM (lanjutan)                                                      1.      GENERAL (continued)

     c.   Penawaran             Umum   Efek      Perusahaan                       c.   Public Offering of Shares of the Company
          (lanjutan)                                                                   (continued)

          Berdasarkan     Keputusan    Rapat    Umum                                   Based on the Decision of Extraordinary
          Pemegang Saham Luar Biasa Perusahaan                                         General     Meeting     of    the    Company’s
          sebagaimana dinyatakan dalam akta notaris                                    stockholders as stated in notarial deed No.
          No. 129 tanggal 18 Desember 2020 dari                                        129 dated December 18, 2020 of Jimmy
          Jimmy Tanal, S.H., M.Kn, notaris di Jakarta,                                 Tanal, S.H., M.Kn, notary in Jakarta, the
          Perusahaan      menerbitkan    1.360.887.000                                 Company issued 1,360,887,000 new shares
          lembar saham baru dengan nilai nominal                                       with a nominal value of Rp 10 per share and
          Rp 10 per lembar saham dan semua saham                                       all shares resulting from the addition of capital
          dari   hasil   penerbitan   saham    dengan                                  by granting capital increase with non pre-
          Penambahan Modal Tanpa Hak Memesan                                           emptive rights (PMTHMETD).
          Efek Terlebih Dahulu (PMTHMETD).

          Berdasarkan     Keputusan   Rapat     Umum
          Pemegang Saham Luar Biasa Perusahaan                                         Based on the Decision of Extraordinary
          sebagaimana dinyatakan dalam akta notaris                                    General     Meeting     of   the   Company’s
          No. 9 tanggal 1 Maret 2023 dari Jimmy Tanal,                                 stockholders as stated in notarial deed No. 9
          S.H., M.Kn, notaris di Jakarta, Perusahaan                                   dated March 1, 2023 of Jimmy Tanal, S.H.,
          menerbitkan 1.566.088.700 lembar saham                                       M.Kn, notary in Jakarta, the Company issued
          baru dengan nilai nominal Rp 10 per lembar                                   1,566,088,700 new shares with a nominal
          saham dan semua saham hasil penerbitan                                       value of Rp 10 per share and all shares
          saham dengan Penambahan Modal Tanpa                                          resulting from the addition of capital by
          Memesan Efek Terlebih Dahulu (PMTHMETD)                                      granting capital increase with non pre-emptive
          (Catatan 19).                                                                rights (PMTHMETD) (Note 19).

          Pada tanggal 31 Desember 2023, seluruh                                       As of December 31, 2023, all of the
          saham Perusahaan sebanyak 17.226.975.700                                     Company’s       shares     amounted       to
          lembar saham, tercatat di Bursa Efek                                         17,226,975,700 shares, are listed on the
          Indonesia (BEI) (Catatan 19).                                                Indonesia Stock Exchange (IDX) (Note 19).

          Perubahan jumlah lembar saham beredar                                        The movement in the number of shares are as
          adalah sebagai berikut:                                                      follows:
                                                                                         Jumlah/
                                           Tanggal/         Jumlah saham/                 Total
                   Keterangan                Date          Number of shares                US$                             Description

          Pendirian                       29 Maret/                      99.000               1.086.718    Establishment
                                        March 29, 2006
          Realisasi :                                                                                      Realisation:
          Pemecahan saham                19 Oktober/               98.901.000                         -    Stock split
                                       October 19, 2011

          Kapitalisasi saldo laba        19 Oktober/              451.000.000                 5.093.167    Capitalization of retained earnings
                                       October 19, 2011

          Penawaran saham perdana        1 Februari/              250.000.000                 2.771.003    Initial public offering
                                       February 1, 2012

          Konversi Obligasi Wajib        1 Februari/              200.000.000                 2.216.803   Conversion of Mandatory
            Konversi                   February 1, 2012                                                    Convertible Bonds

          Penawaran saham tanpa hak      4 September/             100.000.000                  854.701     Shares issued without pre-emptive rights
            memesan terlebih dahulu    September 4, 2013

          Pemecahan saham                 9 Oktober/            9.900.000.000                         -    Stock split
                                        October 9, 2017

          Penawaran saham dengan hak     9 Februari/            3.300.000.000                 2.418.049    Shares issued with pre-emptive rights
            memesan terlebih dahulu    February 9, 2018




                                                                    12
Page 255
                                                                                  The original consolidated financial statements included herein are in
                                                                                                                                 Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                             PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                            (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                             AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                                NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                                STATEMENTS
31 Desember 2023 dan 2022                                                    December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                          and for the years then ended
pada tanggal tersebut                                                        (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


1.   UMUM (lanjutan)                                                         1.      GENERAL (continued)
     c.    Penawaran         Umum        Efek      Perusahaan                        c.   Public Offering of Shares of the Company
           (lanjutan)                                                                     (continued)
                                                                                              Jumlah/
                                             Tanggal/          Jumlah saham/                   Total
                   Keterangan                  Date           Number of shares                  US$                        Description

           Penambahan modal tanpa hak      8 Desember/               1.360.887.000                 965.169    Shares issued with non pre-emptive rights
             memesan terlebih dahulu     December 8, 2020

           Penambahan modal tanpa hak      16 Februari/              1.566.088.700               1.035.636    Shares issued with non pre-emptive rights
             memesan terlebih dahulu     February 16, 2023

           Saldo per 31 Desember 2023                               17.226.975.700              16.441.246    Balance as of December 31, 2023



     d. Tanggung      Jawab               Manajemen   dan                            d.   Management Responsibility and Approval
        Persetujuan    atas             Laporan  Keuangan                                 of Consolidated Financial Statements
        Konsolidasian

          Penyusunan dan Penyajian wajar Laporan                                          The preparation and fair presentation of the
          keuangan konsolidasian merupakan tanggung                                       consolidated financial statements were the
          jawab manajemen dan telah disetujui oleh                                        responsibilities of management and were
          Dewan Direksi dan telah di otorisasi untuk                                      approved by the Board of Directors and
          diterbitkan pada tanggal 31 Januari 2024.                                       authorized for issue on January 31, 2024.


2.   PENERAPAN     STANDAR      AKUNTANSI                                    2.      ADOPTION   OF   NEW   AND  REVISED
     KEUANGAN BARU (PSAK) DAN REVISI                                                 STATEMENTS OF FINANCIAL ACCOUNTING
                                                                                     STANDARDS (“PSAK”)

     a.    Amendemen/penyesuaian standar                     yang                    a.   Amendments/improvements to standards
           berlaku efektif pada tahun berjalan                                            effective in the current year

          Dalam tahun berjalan, Grup telah menerapkan,                                    In the current year, the Group has applied, a
          sejumlah amandemen dan penyesuaian                                              number     of   amendments      and    annual
          tahunan    PSAK     yang     relevan   dengan                                   improvements to PSAK that are relevant to its
          operasinya dan efektif untuk periode akuntansi                                  operations and effective for accounting period
          yang dimulai pada atau setelah 1 Januari 2023,                                  beginning on or after January 1, 2023, are as
          yaitu:                                                                          follows:

           -    PSAK 1 (amendemen), Penyajian Laporan                                     -     PSAK 1 (amendment), Presentation of
                Keuangan      tentang  Pengungkapan                                             Financial Statements regarding Disclosure
                Kebijakan Akuntansi                                                             of Accounting Policies

           -    PSAK 16 (amandemen), Aset Tetap                                           -     PSAK 16 (amendment), Property, Plant
                tentang Hasil Sebelum Penggunaan yang                                           and Equipment regarding Proceeds
                Diintensikan                                                                    Before Intended Use

           -    PSAK 25 (amendemen), Kebijakan                                            -     PSAK 25 (amendment), Accounting
                Akuntansi, Perubahan Estimasi, dan                                              Policies,   Changes    in    Accounting
                Kesalahan tentang Definisi estmasi                                              Estimates and Errors regarding definition
                Akuntansi                                                                       of accounting estimate

           -    PSAK       46     (amendemen),        Pajak                               -     PSAK 46 (amendment), Income Taxes
                Penghasilan tentang Pajak Tangguhan                                             regarding Deferred Tax related to Assets
                terkait Aset dan Liabilitas yang timbul dari                                    and Liabilities arising from a Single
                Transaksi Tunggal                                                               Transaction




                                                                        13
Page 256
                                                                      The original consolidated financial statements included herein are in
                                                                                                                     Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                 PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                 AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                    STATEMENTS
31 Desember 2023 dan 2022                                        December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                              and for the years then ended
pada tanggal tersebut                                            (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


2.   PENERAPAN   STANDAR                  AKUNTANSI              2.    ADOPTION   OF   NEW       AND  REVISED
     KEUANGAN BARU (PSAK)                DAN REVISI                    STATEMENTS OF FINANCIAL ACCOUNTING
     (lanjutan)                                                        STANDARDS (“PSAK”) (continued)

     b.   Standar, amendemen dan interpretasi                          b.    Standards, amendments and interpretation
          standar telah diterbitkan tapi belum                               to standards issued not yet adopted
          diterapkan

          Amendemen standar berikut efektif periode                          Amendment to standard are effective for
          yang dimulai pada atau setelah tanggal                             periods beginning on or after January 1, 2024,
          1 Januari 2024, dengan penerapan dini                              with early application permitted is:
          diperkenankan yaitu:

          -   PSAK 1 (amendemen), Penyajian Laporan                              -   PSAK 1 (amendment), Presentation of
              Keuangan tentang Liabilitas Jangka                                     Financial Statements - Long term
              Panjang dengan Kovenan                                                 liabilities with covenant

          -   PSAK 73 (amendemen), Sewa tentang                                  -   PSAK 73 (amendment), Leases – Lease
              Liabilitas Sewa dalam Jual dan Sewa Balik                              Liability in a Sale and Leaseback

          Standar baru dan amendemen standar berikut                         New standard and amendment to standard are
          efektif periode yang dimulai pada atau setelah                     effective for periods beginning on or after
          tanggal 1 Januari 2025.                                            January 1, 2025.

          -   PSAK 74, Kontrak Asuransi                                      -       PSAK 74, Insurance Contracts

          -   PSAK 74 (amendemen), Kontrak Asuransi                          -       PSAK 74, Insurance Contracts: Initial
              tentang Penerapan Awal PSAK 74 dan                                     Application of PSAK 74 and PSAK 71 –
              PSAK 71 – Informasi Komparatif                                         Comparative Information

          Sampai dengan tanggal penerbitan laporan                           As of the issuance date of the consolidated
          keuangan     konsolidasian, Grup    masih                          financial statements, the Group is still
          mempelajari dampak yang mungkin timbul atas                        evaluating the possible impact of the
          penerapan PSAK tersebut pada laporan                               implementation of these PSAKs to its
          keuangan konsolidasian.                                            consolidated financial statements.


3.   INFORMASI          KEBIJAKAN          AKUNTANSI             3.    MATERIAL                ACCOUNTING                    POLICIES
     MATERIAL                                                          INFORMATION

     a.   Pernyataan Kepatuhan                                         a.    Statement of Compliance

          Laporan   keuangan     konsolidasian Grup                          The consolidated financial statements of the
          disusun sesuai dengan Standar Akuntansi                            Group have been prepared in accordance with
          Keuangan di Indonesia.                                             Indonesian Financial Accounting Standards.

     b.   Dasar Penyusunan                                             b.    Basis of Preparation

          Dasar     penyusunan     laporan    keuangan                       The Group’s consolidated financial statements
          konsolidasian Grup adalah berdasarkan basis                        have been prepared on an accrual basis and
          akrual dan konsep biaya historis, kecuali                          the historical cost convention except for certain
          properti dan instrumen keuangan tertentu yang                      properties and financial instruments that are
          diukur pada jumlah revaluasian atau nilai wajar                    measured at revalued amounts or fair values
          pada setiap akhir periode pelaporan, yang                          at the end of each reporting period, as
          dijelaskan dalam kebijakan akuntansi di bawah                      explained in the accounting policies below.
          ini.




                                                            14
Page 257
                                                                      The original consolidated financial statements included herein are in
                                                                                                                     Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                 PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                 AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                    STATEMENTS
31 Desember 2023 dan 2022                                        December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                              and for the years then ended
pada tanggal tersebut                                            (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


3.   INFORMASI       KEBIJAKAN             AKUNTANSI             3.    MATERIAL      ACCOUNTING                              POLICIES
     MATERIAL (lanjutan)                                               INFORMATION (continued)

     b.   Dasar Penyusunan (lanjutan)                                  b.    Basis of Preparation (continued)

          Biaya historis umumnya didasarkan pada nilai                       Historical cost is generally based on the fair
          wajar dari imbalan yang diberikan dalam                            value of the consideration given in exchange
          pertukaran barang dan jasa.                                        for goods and services.

          Nilai wajar adalah harga yang akan diterima                        Fair value is the price that would be received
          untuk menjual suatu aset atau harga yang                           to sell an asset or paid to transfer a liability in
          akan dibayar untuk mengalihkan suatu                               an orderly transaction between market
          liabilitas dalam suatu transaksi teratur antara                    participants at the measurement date.
          pelaku pasar pada tanggal pengukuran.

          Laporan arus kas konsolidasian disusun                             The consolidated statement of cash flows are
          dengan menggunakan metode langsung                                 prepared using the direct method with
          dengan mengelompokkan arus kas dalam                               classifications of cash flows into operating,
          aktivitas operasi, investasi dan pendanaan.                        investing and financing activities.
          Seluruh angka dalam laporan keuangan                               Figures    in    the    consolidated    financial
          konsolidasian ini, disajikan dalam Dolar                           statements are stated in United States Dollar
          Amerika Serikat (Dolar AS), kecuali dinyatakan                     (US Dollar), unless otherwise specified. Refer
          lain. Lihat Catatan 3f untuk informasi mata                        to Note 3f for the information on the functional
          uang fungsional.                                                   currency.

          Penyusunan laporan keuangan konsolidasian                          The consolidated financial statements have
          telah disusun dan disajikan sesuai dengan                          been prepared and presented in accordance
          Standar Akuntansi Keuangan di Indonesia                            with     Indonesian    Financial   Accounting
          (“SAK”), yang mencakup Pernyataan Standar                          Standards (“SAK”), which comprise the
          Akuntansi Keuangan (“PSAK”) dan Interpretasi                       Statements of Financial Accounting Standards
          Standar Akuntansi Keuangan (“ISAK”) yang                           (“PSAK”) and Interpretations to Financial
          dikeluarkan oleh Dewan Standar Akuntansi                           Accounting Standards (“ISAK”) issued by the
          Keuangan Ikatan Akuntan Indonesia, serta                           Financial Accounting Board of the Indonesian
          Peraturan No. VIII.G.7 Lampiran Keputusan                          Institute of Accountants and Rule No. VIII.G.7
          Ketua OJK No. KEP-347/BL/2012 tanggal 25                           Attachment of Chairman of OJK’s decision
          Juni 2012 yang terdapat di dalam Peraturan                         No. KEP-347/BL/2012 dated June 25, 2012 on
          dan Pedoman Penyajian dan Pengungkapan                             the Regulations and Guidelines on Financial
          Laporan Keuangan yang diterbitkan oleh OJK.                        Statement Presentation and Disclosures
          Kebijakan ini telah diterapkan secara konsisten                    issued by OJK. These policies have been
          terhadap seluruh tahun yang disajikan, kecuali                     consistently applied to all years presented,
          jika dinyatakan lain. Hal tersebut juga                            unless otherwise stated. It also requires
          mengharuskan manajemen untuk membuat                               management to exercise its judgment in the
          pertimbangan dalam proses penerapan                                process of applying the Group’s accounting
          kebijakan akuntansi Grup. Area yang                                policies. The areas involving a higher degree
          kompleks       atau      memerlukan     tingkat                    of judgment or complexity, or areas where
          pertimbangan yang lebih tinggi atau area di                        assumptions and estimates are significant to
          mana asumsi dan estimasi dapat berdampak                           the consolidated financial statements are
          signifikan    terhadap     laporan   keuangan                      disclosed in Note 4.
          konsolidasian diungkapkan di Catatan 4.




                                                            15
Page 258
                                                                        The original consolidated financial statements included herein are in
                                                                                                                       Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                   PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                  (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                   AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                      STATEMENTS
31 Desember 2023 dan 2022                                          December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                and for the years then ended
pada tanggal tersebut                                              (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


3.   INFORMASI       KEBIJAKAN               AKUNTANSI             3.    MATERIAL      ACCOUNTING                              POLICIES
     MATERIAL (lanjutan)                                                 INFORMATION (continued)

     c.   Dasar Konsolidasian                                            c.    Basis of Consolidation

          Laporan         keuangan           konsolidasian                     The      consolidated     financial      statements
          menggabungkan            laporan       keuangan                      incorporate the financial statements of the
          Perusahaan dan entitas yang dikendalikan                             Company and entities controlled by the Group
          oleh Grup dan entitas anak. Pengendalian                             and its subsidiaries. Control is achieved where
          tercapai jika Grup memiliki kekuasaan atas                           the Group has the power over the investee; is
          investee; eksposur atau hak atas imbal hasil                         exposed, or has rights, to variable returns from
          variabel dari keterlibatannya dengan investee;                       its involvement with the investee; and has the
          dan    kemampuan          untuk   menggunakan                        ability to use its power to affect its returns.
          kekuasaannya         atas     investee     untuk
          mempengaruhi jumlah imbal hasil investor.

          Grup    menilai   kembali    apakah   Grup                           The Group reassesses whether or not it
          mengendalikan investee jika fakta dan                                controls an investee if facts and circumstances
          keadaan mengindikasikan adanya perubahan                             indicate that there are changes to one or more
          terhadap satu atau lebih dari tiga elemen                            of the three elements of control listed above.
          pengendalian yang disebutkan di atas.

          Ketika Grup memiliki hak suara kurang dari                           When the Group has less than a majority of
          mayoritas di-investee, ia memiliki kekuasaan                         the voting rights of an investee, it has power
          atas investee ketika hak suara investor cukup                        over the investee when the voting rights are
          untuk memberinya kemampuan praktis untuk                             sufficient to give it the practical ability to direct
          mengarahkan aktivitas relevan secara sepihak.                        the relevant activities of the investee
          Grup mempertimbangkan seluruh fakta dan                              unilaterally. The Group considers all relevant
          keadaan yang relevan dalam menilai apakah                            facts and circumstances in assessing whether
          hak suara Grup cukup untuk memberikan Grup                           or not the Group’s voting rights in an investee
          kekuasaan, termasuk (i) ukuran kepemilikan                           are sufficient to give it power, including (i) the
          hak suara Grup relatif terhadap ukuran dan                           size of the Group’s holding of voting rights
          penyebaran kepemilikan pemilik hak suara                             relative to the size and dispersion of holding of
          lain; (ii) hak suara potensial yang dimiliki oleh                    the other vote holders; (ii) potential voting
          Grup, pemegang suara lain atau pihak lain; (iii)                     rights held by the Group, other vote holders or
          hak yang timbul dari pengaturan kontraktual                          other parties; (iii) rights arising from other
          lain; dan (iv) setiap fakta dan keadaan                              contractual arrangements; and (iv) any
          tambahan apapun mengindikasikan bahwa                                additional facts and circumstances that
          Grup       memiliki,   atau    tidak   memiliki,                     indicate that the Group has, or does not have,
          kemampuan kini untuk mengarahkan aktivitas                           the current ability to direct the relevant
          yang relevan pada saat keputusan perlu                               activities at the time that decisions need to be
          dibuat, termasuk pola pemilikan suara dalam                          made, including voting patterns at previous
          rapat pemegang saham sebelumnya.                                     shareholders’ meetings.

          Konsolidasi entitas anak dimulai ketika Grup                         Consolidation of a subsidiary begins when the
          memperoleh pengendalian atas entitas anak                            Group obtains control over the subsidiary and
          dan akan dihentikan ketika Grup kehilangan                           ceases when the Group loses control of the
          pengendalian pada entitas anak. Secara                               subsidiary. Specifically, income and expense
          khusus, pendapatan dan beban entitas anak                            of a subsidiary acquired or disposed of during
          yang diakuisisi atau dijual selama tahun                             the year are included in the consolidated
          berjalan termasuk dalam laporan laba rugi dan                        statement of profit or loss and other
          penghasilan komprehensif lain konsolidasian                          comprehensive income from the date the
          dari tanggal diperolehnya pengendalian Grup                          Group gains control until the date when the
          sampai tanggal ketika Grup berhenti                                  Group ceases to control the subsidiary.
          mengendalikan entitas anak.




                                                              16
Page 259
                                                                        The original consolidated financial statements included herein are in
                                                                                                                       Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                   PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                  (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                   AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                      STATEMENTS
31 Desember 2023 dan 2022                                          December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                and for the years then ended
pada tanggal tersebut                                              (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


3.   INFORMASI       KEBIJAKAN               AKUNTANSI             3.    MATERIAL      ACCOUNTING                              POLICIES
     MATERIAL (lanjutan)                                                 INFORMATION (continued)

     c.   Dasar Konsolidasian (lanjutan)                                 c.    Basis of Consolidation (continued)

          Laba rugi dan setiap komponen penghasilan                            Profit or loss and each component of other
          komprehensif lain diatribusikan kepada pemilik                       comprehensive income are attributed to the
          entitas induk dan kepada kepentingan                                 owners of the Group and to the non-
          nonpengendali. Grup juga mengatribusikan                             controlling interest. Total comprehensive
          total penghasilan komprehensif entitas anak                          income of subsidiaries is attributed to the
          kepada pemilik entitas induk dan kepentingan                         owners of the Group and the non- controlling
          nonpengendali      meskipun     hal   tersebut                       interest even if this results in the non-
          mengakibatkan kepentingan nonpengendali                              controlling interest having a deficit balance.
          memiliki saldo defisit.

          Jika diperlukan, penyesuaian dapat dilakukan                         When necessary, adjustments are made to the
          terhadap laporan keuangan entitas anak agar                          financial statements of subsidiaries to bring
          kebijakan akuntansi sesuai dengan kebijakan                          their accounting policies in line with the
          akuntansi Grup.                                                      Group’s accounting policies.

          Seluruh aset dan liabilitas dalam Intra Grup,                        All intragroup assets and liabilities, equity,
          ekuitas, pendapatan, beban dan arus kas yang                         income, expenses and cash flows relating to
          berkaitan dengan transaksi dalam Grup                                transactions between members of the Group
          dieliminasi   secara    penuh    pada    saat                        are eliminated in full on consolidation.
          konsolidasi.

          Kepentingan nonpengendali pada entitas anak                          Non‑controlling interests in subsidiaries are
          diidentifikasi secara terpisah dari ekuitas Grup                     identified separately from the Group’s equity
          di dalamnya. Kepentingan para pemegang                               therein. Those interests of non‑controlling
          saham       nonpengendali      yang      memiliki                    shareholders that are present ownership
          kepentingan kepemilikan saat ini memberikan                          interests entitling their holders to a
          hak kepada pemegang sahamnya atas bagian                             proportionate share of net assets upon
          proporsional dari aset bersih pada saat                              liquidation may initially be measured at fair
          likuidasi yang awalnya dapat diukur pada nilai                       value or at the non‑controlling interests’
          wajar atau pada bagian proporsional                                  proportionate share of the fair value of the
          kepentingan nonpengendali dari nilai wajar                           acquiree’s identifiable net assets. The choice
          aset neto yang dapat diidentifikasi dari pihak                       of    measurement       is   made        on    an
          yang diakuisisi yang dapat diidentifikasi.                           acquisition‑by‑acquisition     basis.       Other
          Pilihan pengukuran dilakukan atas per masing-                        non‑controlling interests are initially measured
          masing akuisisi. Kepentingan nonpengendali                           at fair value. Subsequent to acquisition, the
          lainnya pada awalnya diukur pada nilai wajar.                        carrying amount of non‑controlling interests is
          Setelah akuisisi, jumlah tercatat kepentingan                        the amount of those interests at initial
          nonpengendali adalah jumlah kepentingan                              recognition plus the non‑controlling interests’
          tersebut pada pengakuan awal ditambah                                share of subsequent changes in equity.
          bagian kepentingan nonpengendali dari
          perubahan selanjutnya dalam ekuitas.

          Perubahan kepemilikan Grup pada entitas                              Changes in the Group’s ownership interest in
          anak yang tidak mengakibatkan kehilangan                             existing subsidiaries that do not result in the
          pengendalian Grup atas entitas anak dicatat                          Group losing control over the subsidiaries are
          sebagai transaksi ekuitas. Jumlah tercatat dari                      accounted for as equity transactions. The
          kepemilikan       Grup     dan     kepentingan                       carrying amounts of the Group’s interest and
          nonpengendali          disesuaikan       untuk                       the non-controlling interest are adjusted to
          mencerminkan        perubahan      kepentingan                       reflect the changes in their relative interest in
          relatifnya dalam entitas anak. Selisih antara                        the subsidiaries. Any difference between the
          jumlah tercatat kepentingan nonpengendali                            amount by which the non-controlling interest
          yang disesuaikan dan nilai wajar imbalan yang                        are adjusted and the fair value of the
          dibayar atau diterima diakui secara langsung                         consideration paid or received is recognized
          dalam ekuitas dan diatribusikan kepada                               directly in equity and attributed to owners of
          pemilik entitas induk.                                               the Group.
                                                              17
Page 260
                                                                        The original consolidated financial statements included herein are in
                                                                                                                       Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                   PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                  (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                   AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                      STATEMENTS
31 Desember 2023 dan 2022                                          December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                and for the years then ended
pada tanggal tersebut                                              (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


3.   INFORMASI       KEBIJAKAN               AKUNTANSI             3.    MATERIAL      ACCOUNTING                              POLICIES
     MATERIAL (lanjutan)                                                 INFORMATION (continued)

     c.   Dasar Konsolidasian (lanjutan)                                 c.    Basis of Consolidation (continued)

          Ketika Grup kehilangan pengendalian pada                             When the Group losses control of a subsidiary,
          entitas anak, keuntungan atau kerugian diakui                        a gain or loss is recognized in profit or loss
          dalam laba rugi dan dihitung sebagai                                 and is calculated as the difference between (i)
          perbedaan antara (i) agregat nilai wajar                             the aggregate of the fair value of the
          pembayaran yang diterima dan nilai wajar sisa                        consideration received and the fair value of
          kepemilikan (retained interest) dan (ii) jumlah                      any retained interest and (ii) the previous
          tercatat sebelumnya dari aset (termasuk                              carrying amount of the assets (including
          goodwill), dan liabilitas dari entitas anak dan                      goodwill), and liabilities of the subsidiary and
          setiap kepentingan nonpengendali. Seluruh                            any non-controlling interest. All amounts
          jumlah yang diakui sebelumnya dalam                                  previously recognized in other comprehensive
          penghasilan komprehensif lain yang terkait                           income in relation to that subsidiary are
          dengan entitas anak dicatat seolah-olah Grup                         accounted for as if the Group had directly
          telah melepaskan secara langsung aset atau                           disposed of the related assets or liabilities of
          liabilitas   terkait    entitas   anak     (yaitu                    the subsidiary (i.e. reclassified to profit or loss
          direklasifikasi ke laba rugi atau ditransfer ke                      or transferred to another category of equity as
          kategori lain dari ekuitas sebagaimana                               specified/permitted by applicable accounting
          ditentukan / diizinkan oleh standar akuntansi                        standards). The fair value of any investment
          yang berlaku). Nilai wajar setiap sisa investasi                     retained in the former subsidiary at the date
          pada entitas anak terdahulu pada tanggal                             when control is lost is regarded as the fair
          hilangnya pengendalian dianggap sebagai nilai                        value on initial recognition for subsequent
          wajar pada saat pengakuan awal untuk                                 accounting under PSAK 71, Financial
          perlakuan akuntansi berikutnya dalam PSAK                            Instruments, when applicable, the cost on
          71, Instrumen Keuangan, atau, ketika berlaku,                        initial recognition of an investment in an
          biaya perolehan pada saat pengakuan awal                             associate or a joint venture.
          dari investasi pada entitas asosiasi atau
          ventura bersama.

     d.   Kombinasi Bisnis                                               d.    Business Combinations

          Akuisisi bisnis dicatat dengan menggunakan                           Acquisitions of businesses are accounted for
          metode akuisisi. Imbalan yang dialihkan dalam                        using     the     acquisition    method.   The
          suatu kombinasi bisnis diukur pada nilai wajar,                      consideration transferred in a business
          yang dihitung sebagai hasil penjumlahan dari                         combination is measured at fair value, which is
          nilai wajar tanggal akuisisi atas seluruh aset                       calculated as the sum of the acquisition- date
          yang dialihkan oleh Grup, liabilitas yang diakui                     fair values of the assets transferred by the
          oleh Grup kepada pemilik sebelumnya dari                             Group, liabilities incurred by the Group to the
          pihak yang diakuisisi dan kepentingan ekuitas                        former owners of the acquiree, and the equity
          yang diterbitkan oleh Grup dalam pertukaran                          interests issued by the Group in exchange for
          pengendalian dari pihak yang diakuisisi. Biaya-                      control of the acquiree. Acquisition-related
          biaya terkait akuisisi diakui di dalam laba rugi                     costs are recognized in profit or loss as
          pada saat terjadinya.                                                incurred.

          Pada tanggal akuisisi, aset teridentifikasi yang                     At the acquisition date, the identifiable assets
          diperoleh dan liabilitas yang diambil alih diakui                    acquired and the liabilities assumed are
          pada nilai wajar kecuali untuk aset dan                              recognized at their fair value except for certain
          liabilitas tertentu yang diukur sesuai dengan                        assets and liabilities that are measured in
          standar yang relevan.                                                accordance with the relevant standards.




                                                              18
Page 261
                                                                         The original consolidated financial statements included herein are in
                                                                                                                        Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                    PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                   (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                    AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                       NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                       STATEMENTS
31 Desember 2023 dan 2022                                           December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                 and for the years then ended
pada tanggal tersebut                                               (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


3.   INFORMASI       KEBIJAKAN               AKUNTANSI              3.    MATERIAL      ACCOUNTING                              POLICIES
     MATERIAL (lanjutan)                                                  INFORMATION (continued)

     d.   Kombinasi Bisnis (lanjutan)                                     d.    Business Combinations (continued)

          Goodwill diukur sebagai selisih lebih dari nilai                      Goodwill is measured as the excess of the
          gabungan dari imbalan yang dialihkan, jumlah                          sum of the consideration transferred, the
          setiap kepentingan nonpengendali pada pihak                           amount of any non-controlling interests in the
          diakuisisi dan nilai wajar pada tanggal akuisisi                      acquiree, and the fair value of the acquirer’s
          kepentingan ekuitas yang sebelumnya dimiliki                          previously held equity interest in the acquire (if
          oleh pihak pengakuisisi pada pihak diakuisisi                         any) over the net of the acquisition-date
          (jika ada) atas jumlah neto dari aset                                 amounts of the identifiable assets acquired
          teridentifikasi yang diperoleh dan liabilitas                         and the liabilities assumed. If, after the
          yang diambil alih pada tanggal akuisisi. Jika,                        reassessment, the net of the acquisition-date
          setelah penilaian kembali, jumlah neto dari                           amounts of the identifiable assets acquired
          aset teridentifikasi yang diperoleh dan liabilitas                    and liabilities assumed exceeds the sum of the
          yang diambil alih pada tanggal akuisisi                               consideration transferred, the amount of any
          melebihi jumlah imbalan yang dialihkan,                               non-controlling interests in the acquiree and
          jumlah dari setiap kepentingan nonpengendali                          the fair value of the acquirer’s previously held
          pada pihak diakuisisi dan nilai wajar pada                            interest in the acquiree (if any), the excess is
          tanggal akuisisi kepentingan ekuitas yang                             recognized immediately in profit or loss as a
          sebelumnya dimiliki oleh pihak pengakuisisi                           bargain purchase gain.
          pada pihak diakuisisi (jika ada), selisih lebih
          diakui segera dalam laba rugi sebagai
          keuntungan pembelian dengan diskon.

     e.   Hal yang Berhubungan dengan Lingkungan                          e.    Environment Related Matters

          Perusahaan memiliki dan mengoperasikan                                The Company owns and operates the largest
          kilang LPG (Liquefied Petroleum Gas)                                  privately-owned domestic liquefied petroleum
          domestik terbesar milik swasta di Indonesia.                          gas (LPG) refinery in Indonesia. Its main
          Bisnis utamanya adalah pemurnian dan                                  business is the refining and processing of
          pengolahan gas bumi untuk menghasilkan                                natural gas to produce LPG and Condensate.
          LPG dan Kondensat.

          PAU memiliki pabrik Amoniak yang menjadi                              PAU owns Ammonia Plant as one of the
          salah satu proyek industri terbesar di                                biggest industrial projects in Eastern of
          Indonesia     Timur.  Pabrik Amoniak     ini                          Indonesia. This Ammonia plant runs on KBR’s
          menggunakan Reforming Exchanger System &                              Reforming Exchanger System & Purifier
          Purifier Technology KBR, teknologi terdepan                           Technology, the leading technology in
          dalam produksi Amoniak. Ini merupakan                                 Ammonia production. This Ammonia Plant
          aplikasi pertama di dunia, yang menempatkan                           runs on KBR’s Reforming Exchanger System
          Indonesia sebagai yang terdepan dalam                                 & Purifier Technology, the leading technology
          produksi Amoniak di seluruh dunia.                                    in Ammonia production. This represents its
                                                                                first application in the world, which puts
                                                                                Indonesia at the forefront of Ammonia
                                                                                production worldwide.

          Grup       berkomitmen      untuk     selalu                          The Group is committed to always prioritizing
          mengutamakan aspek keberlanjutan dalam                                the sustainability aspect in all business
          setiap kegiatan usahanya yang mengacu pada                            activities    in    accordance    with       the
          aspek Lingkungan, Sosial, dan Tata Kelola                             Environmental, Social and Governance (ESG)
          (Environmental, Social and Governance/ESG).                           aspects. The implementation of these aspects
          Penerapan aspek tersebut dilakukan melalui                            is carried out through a number of activities in
          berbagai      kegiatan    sehingga    dapat                           order to create value for the Company’s
          menciptakan nilai bagi para pemangku                                  stakeholders.
          kepentingan Perusahaan.



                                                               19
Page 262
                                                                        The original consolidated financial statements included herein are in
                                                                                                                       Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                   PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                  (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                   AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                      STATEMENTS
31 Desember 2023 dan 2022                                          December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                and for the years then ended
pada tanggal tersebut                                              (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


3.   INFORMASI       KEBIJAKAN               AKUNTANSI             3.    MATERIAL      ACCOUNTING                              POLICIES
     MATERIAL (lanjutan)                                                 INFORMATION (continued)

     e.   Hal yang Berhubungan dengan Lingkungan                         e.    Environment Related Matters (continued)
          (lanjutan)

          Grup      berkomitmen    untuk    menjaga                            The Group committed to sustaining the
          keberlanjutan lingkungan dengan mematuhi                             environment by complying the applicable
          seluruh peraturan perundang-undangan yang                            regulation and implementing ISO 14001:2015
          berlaku dan menerapkan ISO 14001:2015                                Environment System.
          Sistem Manajemen Lingkungan.

          Grup fokus dalam bisnis Blue Ammonia                                 The Group are focusing on Blue Ammonia
          sebagai bagian dari komitmen untuk mencapai                          bussiness as part of commitment to achieve
          target jejak karbon nihil.                                           zero carbon footprint target.

          Konsisten dengan tahun sebelumnya, pada                              Consistent with the prior year, as at 31
          31    Desember          2023,    Grup      belum                     December 2023, the Group has not identified
          mengidentifikasi     risiko   signifikan   akibat                    significant risks induced by climate changes
          perubahan iklim yang dapat berdampak negatif                         that could negatively and materially affect the
          dan material terhadap laporan keuangan Grup.                         Group’s financial statements. Management
          Manajemen        terus      mengkaji     dampak                      continuously     assesses   the    impact of
          permasalahan terkait perubahan lingkungan.                           environment-related matters.

          Asumsi dapat berubah di masa depan sebagai                           Assumptions could change in the future in
          respon terhadap peraturan lingkungan hidup                           response to forthcoming environmental
          yang akan datang, komitmen baru yang                                 regulations, new commitments taken and
          diambil,     dan      perubahan    permintaan                        changing consumer demand. These changes,
          konsumen. Perubahan - perubahan ini, jika                            if not anticipated, could have an impact on the
          tidak diantisipasi, dapat berdampak pada arus                        Group’s      future   cash    flows,   financial
          kas, kinerja keuangan dan posisi keuangan                            performance and financial position.
          Grup di masa depan.

     f.   Transaksi  dan   Penjabaran    Laporan                         f.    Foreign    Currency              Transactions           and
          Keuangan Dalam Mata Uang Asing                                       Translation

          Laporan keuangan individu masing-masing                              The individual financial statements of each
          entitas Grup diukur dan disajikan dalam mata                         The Group entity are measured and presented
          uang dari lingkungan ekonomi utama dimana                            in the currency of the primary economic
          entitas beroperasi (mata uang fungsional).                           environment in which the entity operates (its
          Laporan keuangan konsolidasian dari Grup                             functional   currency).     The    consolidated
          disajikan dalam mata uang Dollar Amerika                             financial statements of the Group are
          Serikat yang merupakan mata uang fungsional                          presented in US Dollar, which is the functional
          dan mata uang penyajian untuk laporan                                currency and the presentation currency for the
          keuangan konsolidasian.                                              consolidated financial statements.

          Dalam menyusun laporan keuangan masing -                             In preparing the financial statements of the
          masing perusahaan, transaksi dalam mata                              individual    companies,      transactions      in
          uang selain mata uang fungsional entitas                             currencies other than the entity’s functional
          (mata uang asing) diakui pada nilai tukar yang                       currency (foreign currencies) are recognized at
          berlaku pada tanggal transaksi. Pada setiap                          the rates of exchange prevailing on the dates
          tanggal pelaporan, aset dan liabilitas moneter                       of the transactions. At each reporting date,
          dalam mata uang asing dijabarkan ulang                               monetary assets and liabilities that are
          dengan menggunakan kurs pada tanggal                                 denominated in foreign currencies are
          tersebut.                                                            retranslated at the rates prevailing at that date.




                                                              20
Page 263
                                                                         The original consolidated financial statements included herein are in
                                                                                                                        Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                    PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                   (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                    AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                       NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                       STATEMENTS
31 Desember 2023 dan 2022                                           December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                 and for the years then ended
pada tanggal tersebut                                               (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


3.   INFORMASI       KEBIJAKAN                AKUNTANSI             3.    MATERIAL      ACCOUNTING                              POLICIES
     MATERIAL (lanjutan)                                                  INFORMATION (continued)

     f.   Transaksi       dan  Penjabaran Laporan                         f.    Foreign    Currency     Transactions                    and
          Keuangan        Dalam Mata Uang Asing                                 Translation (continued)
          (lanjutan)

          Pos nonmoneter yang dicatat pada nilai wajar                          Non‑monetary items carried at fair value that
          yang didenominasikan dalam mata uang asing                            are denominated in foreign currencies are
          dijabarkan dengan kurs yang berlaku pada                              translated at the rates prevailing at the date
          tanggal ketika nilai wajar ditentukan. Item-item                      when the fair value was determined.
          nonmoneter yang diukur berdasarkan biaya                              Non‑monetary items that are measured in
          historis dalam mata uang asing tidak                                  terms of historical cost in a foreign currency
          dijabarkan kembali.                                                   are not retranslated.

          Selisih kurs atas pos moneter diakui dalam                            Exchange differences on monetary items are
          laba rugi pada periode saat terjadinya.                               recognized in profit or loss in the period in
                                                                                which they arise.

     g.   Transaksi Pihak-Pihak Berelasi                                  g.    Transactions with Related Parties

          Pihak-pihak berelasi adalah orang atau entitas                        A related party is a person or entity that is
          yang terkait dengan Grup (entitas pelapor):                           related to the Group (the reporting entity):

          a.   Orang atau anggota keluarga dekatnya                             a.    A person or a close member of that
               mempunyai relasi dengan entitas pelapor                                person's family is related to the reporting
               jika orang tersebut:                                                   entity if that person:

               i.   Memiliki     pengendalian   atau                                  i. Has control or joint control over the
                    pengendalian bersama atas entitas                                    reporting entity;
                    pelapor;

               ii. Memiliki pengaruh       signifikan   atas                          ii. Has significant influence over the
                   entitas pelapor; atau                                                  reporting entity; or

               iii. Merupakan personil manajemen kunci                                iii. Is a member of the key management
                    entitas pelapor atau entitas induk dari                                personnel of the reporting entity or of a
                    entitas pelapor.                                                       parent of the reporting entity.

          b.   Suatu entitas berelasi dengan entitas                            b.    An entity is related to the reporting entity if
               pelapor jika memenuhi salah satu hal                                   any of the following conditions applies:
               berikut:

               i.   Entitas dan entitas pelapor adalah                                i. The entity, and the reporting entity are
                    anggota dari kelompok usaha yang                                     members of the same the Group
                    sama (artinya entitas induk, entitas                                 (which means that each parent,
                    anak, dan entitas anak berikutnya                                    subsidiary and fellow subsidiary is
                    saling berelasi dengan entitas lainnya).                             related to the others).

               ii. Satu entitas adalah entitas asosiasi                               ii. One entity is an associate or joint
                   atau ventura bersama dari entitas lain                                 venture of the other entity (or an
                   (atau entitas asosiasi atau ventura                                    associate or joint venture of a member
                   bersama yang merupakan anggota                                         of a the Group of which the other entity
                   suatu kelompok usaha, yang mana                                        is a member).
                   entitas    lain   tersebut     adalah
                   anggotanya).

               iii. Kedua entitas tersebut adalah ventura                             iii. Both entities are joint ventures of the
                    bersama dari pihak ketiga yang sama.                                   same third party.

                                                               21
Page 264
                                                                          The original consolidated financial statements included herein are in
                                                                                                                         Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                     PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                    (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                     AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                        NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                        STATEMENTS
31 Desember 2023 dan 2022                                            December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                  and for the years then ended
pada tanggal tersebut                                                (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


3.   INFORMASI       KEBIJAKAN                AKUNTANSI              3.    MATERIAL      ACCOUNTING                              POLICIES
     MATERIAL (lanjutan)                                                   INFORMATION (continued)

     g.   Transaksi Pihak-Pihak Berelasi (lanjutan)                        g.    Transactions            with       Related          Parties
                                                                                 (continued)

          b.   Suatu entitas berelasi dengan entitas                             b.    An entity is related to the reporting entity if
               pelapor jika memenuhi salah satu hal                                    any of the following conditions applies:
               berikut: (lanjutan)                                                     (continued)

               iv. Satu entitas adalah ventura bersama                                 iv. One entity is a joint venture of a third
                   dari entitas ketiga dan entitas yang lain                               entity and the other entity is an
                   adalah entitas asosiasi dari entitas                                    associate of the third entity.
                   ketiga.

               v. Entitas tersebut adalah suatu program                                v. The entity is a post-employment
                  imbalan pasca kerja untuk imbalan                                       benefit plan for the benefit of
                  kerja dari salah satu entitas pelapor                                   employees of either the reporting
                  atau entitas yang terkait dengan                                        entity, or an entity related to the
                  entitas pelapor. Jika entitas pelapor                                   reporting entity. If the reporting entity is
                  adalah           entitas         yang                                   itself such a plan, the sponsoring
                  menyelenggarakan program tersebut,                                      employers are also related to the
                  maka entitas sponsor juga berelasi                                      reporting entity.
                  dengan entitas pelapor.

               vi. Entitas     yang    dikendalikan atau                               vi. The entity is controlled or jointly
                   dikendalikan bersama oleh orang yang                                    controlled by a person identified in (a).
                   diidentifikasi dalam huruf (a).

               vii. Orang yang diidentifikasi dalam huruf                              vii. A person identified in (a) (i) has
                    (a) (i) memiliki pengaruh signifikan atas                               significant influence over the entity or is
                    entitas atau merupakan personil                                         a member of the key management
                    manajemen kunci entitas (atau entitas                                   personnel of the entity (or a parent of
                    induk dari entitas).                                                    the entity).

               viii. Entitas, atau anggota dari kelompok                               viii. The entity, or any member of the
                     yang mana entitas merupakan bagian                                      Group of which it is a part, provides
                     dari kelompok tersebut, menyediakan                                     key management personnel services to
                     jasa personil manajemen kunci kepada                                    the reporting entity or to the parent of
                     entitas pelapor atau kepada entitas                                     the reporting entity.
                     induk dari entitas pelapor.

          Transaksi signifikan yang dilakukan dengan                             Significant transactions with related parties,
          pihak-pihak berelasi, baik dilakukan dengan                            whether or not made at similar terms and
          kondisi dan persyaratan yang sama dengan                               conditions as those done with third parties, are
          pihak ketiga maupun tidak, diungkapkan pada                            disclosed in the consolidated financial
          laporan keuangan konsolidasian.                                        statements.




                                                                22
Page 265
                                                                        The original consolidated financial statements included herein are in
                                                                                                                       Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                   PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                  (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                   AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                      STATEMENTS
31 Desember 2023 dan 2022                                          December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                and for the years then ended
pada tanggal tersebut                                              (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


3.   INFORMASI       KEBIJAKAN               AKUNTANSI             3.    MATERIAL      ACCOUNTING                              POLICIES
     MATERIAL (lanjutan)                                                 INFORMATION (continued)

     h.   Instrumen Keuangan                                             h.    Financial Instruments

          Pengakuan dan pengukuran awal                                        Recognition and initial measurement

          Aset keuangan dan liabilitas keuangan diakui                         Financial assets and financial liabilities are
          ketika Grup menjadi bagian dari ketentuan                            recognized when the Group becomes a party
          kontrak dari instrumen. Aset keuangan dan                            to the contractual provisions of the instrument.
          liabilitas keuangan pada awalnya diukur pada                         Financial assets and financial liabilities are
          nilai wajar, kecuali piutang usaha yang tidak                        initially measured at fair value, except for trade
          memiliki komponen pendanaan signifikan yang                          receivables that do not have a significant
          diukur pada harga transaksi. Biaya transaksi                         financing component which are measured at
          yang secara langsung dapat diatribusikan                             transaction price. Transaction costs that are
          dengan perolehan atau penerbitan aset                                directly attributable to the acquisition or issue
          keuangan dan liabilitas keuangan (selain aset                        of financial assets and financial liabilities (other
          keuangan dan liabilitas keuangan yang diukur                         than financial assets and financial liabilities at
          pada nilai wajar melalui laporan laba rugi)                          fair value through profit or loss) are added to
          ditambahkan atau dikurangkan dari nilai wajar                        or deducted from the fair value of the financial
          aset keuangan atau liabilitas keuangan,                              assets or financial liabilities, as appropriate, on
          sebagaimana mestinya, pada pengakuan                                 initial recognition. Transaction costs directly
          awal. Biaya transaksi yang dapat diatribusikan                       attributable to the acquisition of financial
          secara langsung dengan perolehan aset                                assets or financial liabilities at fair value
          keuangan atau liabilitas keuangan yang diukur                        through profit or loss are recognized
          pada nilai wajar melalui laporan laba rugi                           immediately in consolidated statement of profit
          diakui segera dalam laporan laba rugi                                or loss.
          konsolidasian.

          Klasifikasi aset keuangan                                            Classification of financial assets

          Kecuali untuk piutang usaha yang tidak                               Except for those trade receivables that do not
          mengandung komponen pendanaan yang                                   contain a significant financing component and
          signifikan dan diukur pada harga transaksi                           are measured at the transaction price in
          sesuai dengan PSAK 72, semua aset                                    accordance with PSAK 72, all financial assets
          keuangan pada awalnya diukur pada nilai                              are initially measured at fair value adjusted for
          wajar yang disesuaikan dengan biaya                                  transaction costs (where applicable).
          transaksi (jika ada).

          Untuk tujuan pengukuran selanjutnya, aset                            For the purpose of subsequent measurement,
          keuangan, selain yang ditetapkan dan efektif                         financial assets, other than those designated
          sebagai        instrumen       lindung     nilai,                    and effective as hedging instruments, are
          diklasifikasikan ke dalam kategori berikut pada                      classified into the following categories upon
          saat pengakuan awal:                                                 initial recognition:
              biaya perolehan diamortisasi                                           amortized cost
              nilai wajar melalui laba rugi (FVTPL)                                  fair value through profit or loss (FVTPL)
              nilai wajar melalui penghasilan                                        fair value through other comprehensive
               komprehensif lain (FVOCI)                                               income (FVOCI)

          Klasifikasi ditentukan oleh dua dasar, yaitu:                        The classification is determined by basis of
                                                                               both:
              model bisnis entitas dalam mengelola                                 the entity’s business model for managing
               aset keuangan dan                                                     the financial asset and
              karakteristik arus kas kontraktual dari aset                         the contractual cash flow characteristics
               keuangan                                                              of the financial asset




                                                              23
Page 266
                                                                     The original consolidated financial statements included herein are in
                                                                                                                    Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                               (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                   STATEMENTS
31 Desember 2023 dan 2022                                       December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                             and for the years then ended
pada tanggal tersebut                                           (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


3.   INFORMASI       KEBIJAKAN             AKUNTANSI            3.    MATERIAL      ACCOUNTING                              POLICIES
     MATERIAL (lanjutan)                                              INFORMATION (continued)

     h.   Instrumen Keuangan (lanjutan)                               h.    Financial Instruments (continued)

          Klasifikasi aset keuangan (lanjutan)                              Classification           of       financial         assets
                                                                            (continued)

          Aset keuangan Grup sebagian besar diukur                          The Groups financial assets are mostly
          secara memadai pada biaya perolehan                               subsequently measured at amortized cost.
          diamortisasi.

          Semua aset keuangan kecuali untuk FVTPL                           All financial assets except for those at FVTPL
          ditinjau untuk penurunan nilai setidaknya pada                    are reviewed for impairment at least at each
          setiap       tanggal     pelaporan       untuk                    reporting date to identify whether there is any
          mengidentifikasi apakah ada bukti objektif                        objective evidence that a financial asset or a
          bahwa aset keuangan atau sekelompok aset                          group of financial assets is impaired and
          keuangan mengalami penurunan nilai dan                            recognize a loss allowance for expected credit
          mengakui penyisihan kerugian untuk kerugian                       losses on those financial assets.
          kredit ekspektasian pada aset keuangan
          tersebut.

          Semua pendapatan dan beban yang berkaitan                         All income and expenses relating to financial
          dengan aset keuangan yang diakui dalam laba                       assets that are recognized in profit or loss are
          rugi disajikan dalam beban keuangan,                              presented within finance cost, finance income,
          pendapatan keuangan, atau item keuangan                           or other financial items.
          lainnya.

          Pengukuran selanjutnya aset keuangan                              Subsequent          measurement            of     financial
                                                                            assets

          Aset keuangan       pada   biaya    perolehan                     Financial assets at amortized cost
          diamortisasi

          Aset keuangan diukur pada biaya perolehan                         Financial assets are measured at amortized
          diamortisasi jika aset tersebut memenuhi                          cost if the assets meet the following conditions
          kondisi berikut (dan tidak ditetapkan sebagai                     (and are not designated as FVTPL):
          FVTPL):

             aset tersebut dimiliki dalam model bisnis                           they are held within a business model
              yang bertujuan untuk memiliki aset                                   whose objective is to hold the financial
              keuangan dan mendapatkan arus kas                                    assets and collect its contractual cash
              kontraktualnya                                                       flows
             persyaratan    kontraktual    dari  aset                            the contractual terms of the financial
              keuangan menimbulkan arus kas yang                                   assets give rise to cash flows that are
              semata dari pembayaran pokok dan                                     solely payments of principal and interest
              bunga dari jumlah pokok terutang                                     on the principal amount outstanding

          Setelah pengakuan awal, aset keuangan                             After initial recognition, these are measured at
          tersebut diukur pada biaya perolehan                              amortized cost using the effective interest
          diamortisasi dengan menggunakan metode                            method. Discounting is omitted where the
          bunga efektif. Pemberian diskon harga                             effect of discounting is immaterial. The Group’s
          dihilangkan jika pengaruh diskon tidak                            cash and cash equivalents, trade and other
          material. Kas dan setara kas, piutang usaha                       receivables, investment in bonds and security
          dan piutang lain-lain, investasi pada obligasi                    deposits fall into this category of financial
          dan uang jaminan Grup termasuk dalam                              instruments.
          kategori instrumen keuangan ini.



                                                           24
Page 267
                                                                       The original consolidated financial statements included herein are in
                                                                                                                      Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                  PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                 (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                  AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                     STATEMENTS
31 Desember 2023 dan 2022                                         December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                               and for the years then ended
pada tanggal tersebut                                             (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


3.   INFORMASI       KEBIJAKAN              AKUNTANSI             3.    MATERIAL      ACCOUNTING                              POLICIES
     MATERIAL (lanjutan)                                                INFORMATION (continued)

     h.   Instrumen Keuangan (lanjutan)                                 h.    Financial Instruments (continued)

          Pengukuran selanjutnya aset keuangan                                Subsequent measurement                     of     financial
          (lanjutan)                                                          assets (continued)

          Aset keuangan pada           biaya   perolehan                      Financial assets at amortized cost (continued)
          diamortisasi (lanjutan)

          Metode yang digunakan dalam perhitungan                             The method that is used in the calculation of
          biaya perolehan diamortisasi dari aset                              the amortized cost of a financial asset and in
          keuangan dan dalam pengalokasian dan                                the allocation and recognition of the interest
          pengakuan pendapatan bunga pada laporan                             revenue in profit or loss over the relevant
          laba rugi selama periode yang relevan. Suku                         period. The rate that exactly discounts
          bunga yang secara tepat mendiskontokan                              estimated future cash payments or receipts
          estimasi pembayaran atau penerimaan kas                             through the expected life of the financial asset
          masa depan selama perkiraan umur dari aset                          to the gross carrying amount of a financial
          keuangan dengan jumlah tercatat bruto aset                          asset. When calculating the effective interest
          keuangan. Pada saat menghitung suku bunga                           rate, an entity shall estimate the expected cash
          efektif, entitas mengestimasi arus kas                              flows by considering all the contractual terms
          ekspektasian dengan mempertimbangkan                                of the financial instrument (for example,
          seluruh persyaratan kontraktual dari instrumen                      prepayment, extension, call and similar
          keuangan      tersebut    (sebagai      contoh,                     options) but shall not consider the expected
          percepatan pelunasan, perpanjangan, opsi beli                       credit losses. The calculation includes all fees
          dan     opsi-opsi   serupa),    tetapi     tidak                    and points paid or received between parties to
          mempertimbangkan          kerugian        kredit                    the contract that are an integral part of the
          ekspektasian. Perhitungan mencakup seluruh                          effective interest rate, transaction costs, and all
          fee (imbalan) dan komisi yang dibayarkan atau                       other premiums or discounts. There is a
          diterima oleh pihak-pihak yang terlibat dalam                       presumption that the cash flows and the
          kontrak yang merupakan bagian yang tidak                            expected life of a group of similar financial
          terpisahkan dari suku bunga efektif, biaya                          instruments can be estimated reliably.
          transaksi, dan seluruh premium atau diskonto                        However, in those rare cases when it is not
          lainnya. Terdapat praduga bahwa arus kas                            possible to reliably estimate the cash flows or
          dan perkiraan umur dari kelompok instrumen                          the expected life of a financial instrument (or
          keuangan yang serupa dapat diestimasi                               group of financial instruments), the entity shall
          dengan andal. Akan tetapi, dalam kasus yang                         use the contractual cash flows over the full
          jarang terjadi, apabila tidak          mungkin                      contractual term of the financial instrument (or
          mengestimasi arus kas atau perkiraan umur                           group of financial instruments).
          instrumen keuangan (atau kelompok instrumen
          keuangan) secara andal, entitas menggunakan
          arus kas kontraktual selama jangka waktu
          kontrak dari instrumen keuangan (atau
          kelompok instrumen keuangan) tersebut.

          Aset keuangan pada nilai wajar melalui laba                         Financial assets at fair value through profit or
          rugi (FVTPL)                                                        loss (FVTPL)

          Aset keuangan yang dimiliki dalam model                             Financial assets that are held within a different
          bisnis yang berbeda selain 'dimiliki untuk                          business model other than ‘hold to collect’ or
          mendapatkan'       atau      'dimiliki  untuk                       ‘hold to collect and sell’ are categorised at fair
          mendapatkan dan dijual' dikategorikan pada                          value through profit and loss. Further,
          nilai wajar melalui laba rugi. Selanjutnya,                         irrespective of business model financial assets
          terlepas dari model bisnis aset keuangan yang                       whose contractual cash flows are not solely
          arus kas kontraktualnya tidak semata dari                           payments of principal and interest are
          pembayaran pokok dan bunga, dicatat di                              accounted for at FVTPL.
          FVTPL.


                                                             25
Page 268
                                                                       The original consolidated financial statements included herein are in
                                                                                                                      Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                  PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                 (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                  AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                     STATEMENTS
31 Desember 2023 dan 2022                                         December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                               and for the years then ended
pada tanggal tersebut                                             (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


3.   INFORMASI       KEBIJAKAN              AKUNTANSI             3.    MATERIAL      ACCOUNTING                              POLICIES
     MATERIAL (lanjutan)                                                INFORMATION (continued)

     h.   Instrumen Keuangan (lanjutan)                                 h.    Financial Instruments (continued)

          Aset keuangan pada nilai wajar melalui laba                         Financial assets at fair value through profit or
          rugi (FVTPL) (lanjutan)                                             loss (FVTPL) (continued)

          Aset dalam kategori ini diukur pada nilai wajar                     Assets in this category are measured at fair
          dengan keuntungan atau kerugian diakui                              value with gains or losses recognised in profit
          dalam laporan laba rugi. Nilai wajar aset                           or loss. The fair values of financial assets in
          keuangan dalam kategori ini ditentukan                              this category are determined by reference to
          dengan mengacu pada transaksi pasar aktif                           active market transactions or using a valuation
          atau menggunakan teknik penilaian jika tidak                        technique where no active market exists.
          terdapat pasar aktif.

          Penurunan nilai aset keuangan                                       Impairment of financial assets

          Grup mempertimbangkan berbagai informasi                            The Group considers a broader range of
          yang lebih luas ketika menilai risiko kredit dan                    information when assessing credit risk and
          mengukur kerugian kredit ekspektasian,                              measuring expected credit losses, including
          termasuk peristiwa masa lalu, kondisi saat ini,                     past events, current conditions, reasonable
          prakiraan yang wajar dan dapat didukung yang                        and supportable forecasts that affect the
          mempengaruhi kolektibilitas yang diharapkan                         expected collectability of the future cash flows
          dari arus kas masa depan dari instrumen                             of the instrument.
          tersebut.

          Kerugian kredit adalah selisih antara seluruh                       Credit loss are the difference between all
          arus kas kontraktual yang jatuh tempo kepada                        contractual cash flows that are due to an entity
          entitas sesuai dengan kontrak dan seluruh                           in accordance with the contract and all the
          arus kas yang diperkirakan diterima entitas                         cash flows that the entity expects to receive (ie
          (yaitu seluruh kekurangan kas), didiskontokan                       all cash shortfalls), discounted at the original
          dengan suku bunga efektif awal (atau suku                           effective interest rate (or credit adjusted
          bunga efektif yang disesuaikan dengan kredit                        effective interest rate for purchased or
          untuk aset keuangan yang dibeli atau yang                           originated credit-impaired financial assets). An
          berasal dari aset keuangan memburuk).                               entity shall estimate cash flows by considering
          Entitas mengestimasi arus kas dengan                                all contractual terms of the financial instrument
          mempertimbangkan        seluruh    persyaratan                      (for example, prepayment, extension, call and
          kontraktual dari instrumen keuangan (sebagai                        similar options) through the expected life of
          contoh, percepatan pelunasan, perpanjangan,                         that financial instrument. The cash flows that
          opsi beli dan opsi-opsi serupa) selama                              are considered shall include cash flows from
          perkiraan umur dari instrumen keuangan                              the sale of collateral held or other credit
          tersebut. Arus kas yang dipertimbangkan                             enhancements that are integral to the
          termasuk arus kas dari penjualan agunan yang                        contractual terms.
          dimiliki atau peningkatan kredit lainnya yang
          merupakan bagian yang tidak terpisahkan dari
          persyaratan kontraktual.

          Terdapat praduga bahwa perkiraan umur dari                          There is a presumption that the expected life of
          instrumen keuangan dapat diestimasi dengan                          a financial instrument can be estimated
          andal. Akan tetapi, dalam kasus yang jarang                         reliably. However, in those rare cases when it
          terjadi, apabila    tidak   mungkin    untuk                        is not possible to reliably estimate the
          mengestimasi perkiraan umur instrumen                               expected life of a financial instrument, the
          keuangan dengan andal, entitas menggunakan                          entity shall use the remaining contractual term
          sisa persyaratan kontraktual dari instrumen                         of the financial instrument.
          keuangan.




                                                             26
Page 269
                                                                       The original consolidated financial statements included herein are in
                                                                                                                      Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                  PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                 (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                  AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                     STATEMENTS
31 Desember 2023 dan 2022                                         December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                               and for the years then ended
pada tanggal tersebut                                             (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


3.   INFORMASI       KEBIJAKAN              AKUNTANSI             3.    MATERIAL      ACCOUNTING                              POLICIES
     MATERIAL (lanjutan)                                                INFORMATION (continued)

     h.   Instrumen Keuangan (lanjutan)                                 h.    Financial Instruments (continued)

          Penurunan nilai aset keuangan (lanjutan)                            Impairment of financial assets (continued)

          Kerugian kredit ekspektasian adalah rata-rata                       Expected credit losses are the weighted
          tertimbang atas kerugian kredit dengan                              average of credit losses with the respective
          masing-masing terjadinya risiko gagal bayar                         risks of a default occurring as the weights.
          sebagai pembobotan.

          Kerugian kredit ekspektasian sepanjang                              Lifetime expected credit losses are the
          umurnya adalah Kerugian kredit ekspektasian                         expected credit losses that result from all
          yang dihasilkan dari seluruh kemungkinan                            possible default events over the expected life
          peristiwa gagal bayar selama perkiraan umur                         of a financial instrument.
          dari instrumen keuangan.

          Pengukuran kerugian kredit ekspektasian                             Measurement of the expected credit losses is
          ditentukan   oleh    estimasi   probabilitas                        determined by a probability-weighted estimate
          tertimbang kerugian kredit selama perkiraan                         of credit losses over the expected life of the
          umur instrumen keuangan.                                            financial instrument.

          Piutang usaha dan piutang lain-lain                                 Trade and other receivables

          Grup     menggunakan        pendekatan     yang                     The Group makes use of a simplified approach
          disederhanakan dalam akuntansi untuk                                in accounting to measure expected credit
          mengukur kerugian kredit ekspektasian yang                          losses which uses a lifetime expected loss
          menggunakan cadangan kerugian kredit                                allowance for all trade receivables, other
          ekspektasian seumur hidup untuk seluruh                             receivables and contract assets without
          saldo piutang usaha dan piutang lainnya dan                         significant financing components. These are
          aset kontrak tanpa komponen pendanaan                               the expected shortfalls in contractual cash
          yang     signifikan.   Ini   adalah   perkiraan                     flows, considering the potential for default at
          kekurangan arus kas kontraktual, dengan                             any point during the life of the financial
          mempertimbangkan potensi gagal bayar pada                           instrument. In calculating, the Group uses its
          titik manapun selama umur instrumen                                 historical experience, external indicators and
          keuangan.        Dalam     menghitung,     Grup                     forward-looking information to calculate the
          menggunakan          pengalaman     historisnya,                    expected credit losses using a provision
          indikator eksternal dan informasi forward-                          matrix.
          looking untuk menghitung kerugian kredit
          ekspektasian dengan menggunakan matriks
          provisi.

          Penghentian pengakuan aset keuangan                                 Derecognition of financial assets

          Aset keuangan dihentikan pengakuannya                               Financial assets derecognition when the right
          ketika hak untuk menerima arus kas dari                             to receive cash flow from the investment is due
          investasi tersebut telah jatuh tempo atau telah                     or has been transferred and the Group has
          ditransfer dan Grup telah mentransfer secara                        transferred substantially the entire risk and
          substansial seluruh risiko dan manfaat atas                         benefits on asset ownership.
          kepemilikan aset.

          Penghentian pengakuan aset keuangan                                On derecognition of financial asset in its
          secara keseluruhan, selisih antara jumlah                          entirety, the difference between the asset’s
          tercatat   aset   (diukur    pada       tanggal                    carrying amount (measured at the date of
          penghentian pengakuan) dan jumlah imbalan                          derecognition) and the consideration received
          yang diterima (termasuk setiap aset baru                           (including any new asset obtained less any
          yang diperoleh dikurangi setiap liabilitas baru                    new liability assumed) shall be recognized in
          yang ditanggung), diakui dalam laba rugi.                          profit or loss.
                                                             27
Page 270
                                                                      The original consolidated financial statements included herein are in
                                                                                                                     Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                 PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                 AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                    STATEMENTS
31 Desember 2023 dan 2022                                        December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                              and for the years then ended
pada tanggal tersebut                                            (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


3.   INFORMASI       KEBIJAKAN             AKUNTANSI             3.    MATERIAL      ACCOUNTING                              POLICIES
     MATERIAL (lanjutan)                                               INFORMATION (continued)

     h.   Instrumen Keuangan (lanjutan)                                h.    Financial Instruments (continued)

          Klasifikasi dan pengukuran selanjutnya                             Classification     and           subsequent
          liabilitas keuangan                                                measurement of financial liabilities

          Liabilitas keuangan Grup mencakup utang                            The Group’s financial liabilities include trade
          usaha dan utang lain-lain, utang bank, biaya                       and other payables, bank loan, accrued
          yang masih harus dibayar, serta liabilitas                         expenses and lease liabilities.
          sewa.

          Liabilitas keuangan pada awalnya diukur pada                       Financial liabilities are initially measured at fair
          nilai wajar, dan, jika relevan, disesuaikan                        value, and, where applicable, adjusted for
          dengan biaya transaksi kecuali Grup                                transaction costs unless the Group designated
          menetapkan liabilitas keuangan pada nilai                          a financial liability at fair value through profit or
          wajar melalui laporan laba rugi.                                   loss.

          Semua beban terkait bunga dan, jika berlaku,                       All interest-related charges and, if applicable,
          perubahan nilai wajar instrumen yang                               changes in an instrument’s fair value that are
          dilaporkan dalam laba rugi termasuk dalam                          reported in profit or loss are included within
          biaya keuangan atau pendapatan keuangan.                           finance costs or finance income.

          Metode suku bunga efektif                                          Effective interest method

          Metode suku bunga efektif adalah metode                            The effective interest method is a method of
          yang digunakan untuk menghitung biaya                              calculating the amortized cost of a financial
          perolehan diamortisasi dari liabilitas keuangan                    liability and of allocating interest expense over
          dan metode untuk mengalokasikan biaya                              the relevant period. The effective interest rate
          bunga selama periode yang relevan. Suku                            is the rate that exactly discounts estimated
          bunga efektif adalah suku bunga yang secara                        future cash payments (including all fees and
          tepat mendiskontokan estimasi pembayaran                           points paid or received that form an integral
          kas masa depan (mencakup seluruh komisi                            part of the effective interest rate, transaction
          dan bentuk lain yang dibayarkan dan diterima                       costs and other premiums or discounts)
          oleh para pihak dalam kontrak yang                                 through the expected life of the financial
          merupakan bagian yang tak terpisahkan dari                         liability, or (where appropriate) a shorter period
          suku bunga efektif, biaya transaksi dan                            to the net carrying amount of financial liabilities
          premium dan diskonto lainnya) selama                               on initial recognition.
          perkiraan umur liabilitas keuangan, atau (jika
          lebih tepat) digunakan periode yang lebih
          singkat untuk memperoleh nilai tercatat bersih
          dari liabilitas keuangan pada saat pengakuan
          awal.

          Penghentian pengakuan liabilitas keuangan                          Derecognition of financial liabilities

          Grup menghentikan pengakuan liabilitas                             The Group derecognizes financial liabilities
          keuangan jika, dan hanya jika, kewajiban Grup                      when, and only when, the Group’s obligations
          telah      selesai,  dibatalkan   atau    telah                    are discharged, cancelled or have expired. The
          kedaluwarsa. Selisih antara nilai tercatat                         difference between the carrying amount of the
          liabilitas     keuangan      yang    dihentikan                    financial liability derecognized and the
          pengakuannya dan imbalan yang dibayarkan                           consideration paid and payable recognized in
          dan yang harus dibayar diakui dalam laporan                        consolidated statement of profit or loss.
          laba rugi konsolidasian.




                                                            28
Page 271
                                                                          The original consolidated financial statements included herein are in
                                                                                                                         Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                     PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                    (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                     AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                        NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                        STATEMENTS
31 Desember 2023 dan 2022                                            December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                  and for the years then ended
pada tanggal tersebut                                                (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


3.   INFORMASI       KEBIJAKAN                AKUNTANSI              3.    MATERIAL      ACCOUNTING                              POLICIES
     MATERIAL (lanjutan)                                                   INFORMATION (continued)

     h.   Instrumen Keuangan (lanjutan)                                    h.    Financial Instruments (continued)

          Penghentian pengakuan liabilitas keuangan                              Derecognition            of     financial        liabilities
          (lanjutan)                                                             (continued)

          Ketika Grup menukar dengan pemberi                                     When the Group exchanges with the existing
          pinjaman yang ada, satu instrumen utang                                lender one debt instrument into another one
          menjadi instrumen utang lainnya dengan                                 with substantially different terms, such
          persyaratan yang secara substansial berbeda,                           exchange accounted for as an extinguishment
          pertukaran          tersebut    dicatat     sebagai                    of the original financial liability and the
          pengakhiran liabilitas keuangan awal dan                               recognition of a new financial liability. Similarly,
          pengakuan liabilitas keuangan baru. Demikian                           the Group accounts for substantial modification
          pula, Grup mencatat modifikasi substansial                             of terms of an existing liability or part of it as an
          atas persyaratan suatu liabilitas yang ada atau                        extinguishment of the original financial liability
          bagian darinya sebagai pengakhiran dari                                and the recognition of a new liability. It is
          liabilitas keuangan awal dan pengakuan                                 assumed that the terms are substantially
          liabilitas yang baru. Diasumsikan bahwa                                different if the discounted present value of the
          persyaratan          tersebut   berbeda      secara                    cash flows under the new terms, including any
          substansial jika didiskontokan nilai sekarang                          fees paid net of any fees received and
          dari arus kas dalam persyaratan baru,                                  discounted using the original effective rate is at
          termasuk biaya yang dibayarkan setelah                                 least 10% different from the discounted
          dikurangi biaya yang diterima dan didiskon                             present value of the remaining cash flows of
          menggunakan suku bunga efektif awal                                    the original financial liability. If the modification
          setidaknya 10% berbeda dari nilai sekarang                             is not substantial, the difference between: (1)
          yang didiskontokan dari arus kas yang tersisa                          the carrying amount of the liability before the
          dari      liabilitas     keuangan     awal.    Jika                    modification; and (2) the present value of the
          modifikasinya tidak substansial, perbedaan                             cash flows after modification is recognized in
          antara: (1) nilai tercatat liabilitas sebelum                          profit or loss as the modification gain or loss
          modifikasi; dan (2) nilai kini arus kas setelah                        within other gains and losses.
          modifikasi diakui dalam laba rugi sebagai
          keuntungan atau kerugian modifikasi dalam
          keuntungan dan kerugian lainnya.

     i.   Instrumen     keuangan          derivatif     dan                i.    Derivative financial instruments and hedge
          akuntansi lindung nilai                                                accounting

          Semua instrumen keuangan derivatif yang                                All derivative financial instruments used for
          digunakan untuk akuntansi lindung nilai diakui                         hedge accounting are recognized initially at fair
          awalnya pada nilai wajar dan selanjutnya                               value and reported subsequently at fair value
          dilaporkan pada nilai wajar dalam laporan                              in the consolidated statement of financial
          posisi keuangan konsolidasian. Sejauh lindung                          position. To the extent that the hedge is
          nilai tersebut efektif, perubahan nilai wajar                          effective, changes in the fair value of
          derivatif yang ditetapkan sebagai instrumen                            derivatives designated as hedging instruments
          lindung nilai dalam lindung nilai arus kas diakui                      in cash flow hedges are recognized in other
          dalam penghasilan komprehensif lain dan                                comprehensive income and included within the
          termasuk dalam cadangan lindung nilai arus                             cash flow hedge reserve in equity. Any
          kas dalam ekuitas. Ketidakefektifan dalam                              ineffectiveness in the hedge relationship is
          hubungan lindung nilai diakui segera dalam                             recognized immediately in profit or loss.
          laba rugi.




                                                                29
Page 272
                                                                         The original consolidated financial statements included herein are in
                                                                                                                        Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                    PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                   (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                    AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                       NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                       STATEMENTS
31 Desember 2023 dan 2022                                           December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                 and for the years then ended
pada tanggal tersebut                                               (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


3.   INFORMASI       KEBIJAKAN               AKUNTANSI              3.    MATERIAL      ACCOUNTING                              POLICIES
     MATERIAL (lanjutan)                                                  INFORMATION (continued)
     i.   Instrumen     keuangan       derivatif       dan                i.    Derivative financial instruments and hedge
          akuntansi lindung nilai (lanjutan)                                    accounting (continued)
          Pada saat item yang dilindung nilai                                   At the time the hedged item affects profit or
          mempengaruhi laba atau rugi, keuntungan                               loss, any gain or loss previously recognized in
          atau kerugian yang sebelumnya diakui dalam                            other comprehensive income is reclassified
          penghasilan komprehensif lain direklasifikasi                         from equity to profit or loss and presented as a
          dari ekuitas ke laba rugi dan disajikan sebagai                       reclassification   adjustment      within    other
          penyesuaian reklasifikasi dalam penghasilan                           comprehensive income. If a forecast
          komprehensif lain. Jika transaksi perkiraan                           transaction is no longer expected to occur, any
          tidak lagi diharapkan terjadi, keuntungan atau                        related gain or loss recognized in other
          kerugian terkait yang diakui dalam penghasilan                        comprehensive        income     is     transferred
          komprehensif lain segera ditransfer ke laba                           immediately to profit or loss. If the hedging
          rugi. Jika hubungan lindung nilai tidak lagi                          relationship ceases to meet the effectiveness
          memenuhi kondisi efektivitas, akuntansi                               conditions, hedge accounting is discontinued
          lindung nilai dihentikan dan keuntungan atau                          and the related gain or loss is held in the
          kerugian terkait disimpan dalam cadangan                              equity reserve until the forecast transaction
          ekuitas sampai prakiraan transaksi terjadi.                           occurs.
          Hubungan lindung nilai dinilai efektif jika ketiga                    The hedging relationship is considered
          elemen ini terpenuhi; a) terdapat hubungan                            effective if these three elements are met; a)
          ekonomik antara item lindung nilaian dengan                           there is an economic relationship between the
          instrumen lindung nilai, b) pengaruh risiko                           hedged item and the hedging instrument, b)
          kredit tidak mendominasi perubahan nilai yang                         the effect of credit risk does not dominate the
          dihasilkan hubungan ekonomik tersebut, c)                             change in value resulting from the economic
          rasio lindung nilai dari hubungan lindung nilai                       relationship, c) the hedge ratio of the hedging
          adalah rasio yang sama yang dihasilkan dari                           relationship is the same ratio resulting from the
          perbandingan kuantitas item lindung nilaian                           comparison of the quantity of the hedged item
          yang secara aktual dilindung nilai dan                                actually hedged and the quantity of the
          kuantitas instrumen lindung nilai yang secara                         hedging instrument actually used.
          aktual digunakan.
          Jika hubungan lindung nilai tidak lagi                                If a hedging relationship ceases to meet the
          memenuhi persyaratan efektivitas lindung nilai                        hedge effectiveness requirement relating to the
          terkait dengan rasio lindung nilai, namun                             hedge ratio, but the risk management objective
          tujuan manajemen risiko untuk hubungan                                for that designated hedging relationship
          lindung nilai tersebut ditetapkan sama, Grup                          remains the same, an entity shall adjust the
          menyesuaikan rasio lindung nilai atas                                 hedge ratio of the hedging relationship so that
          hubungan lindung nilai sehingga memenuhi                              it meets the qualifying criteria again
          kriteria kualifikasian lagi (”rebalancing”).                          (“rebalancing”).
          Entitas menghentikan akuntansi lindung nilai                          An entity shall discontinue hedge accounting
          secara prospektif hanya jika hubungan lindung                         prospectively only when the hedging
          nilai (atau bagian dari hubungan lindung nilai)                       relationship (or a part of a hedging
          tidak lagi memenuhi kriteria kualifikasian                            relationship) ceases to meet the qualifying
          (setelah mempertimbangkan rebalancing atas                            criteria (after taking into account any
          hubungan lindung nilai, jika dapat diterapkan).                       rebalancing of the hedging relationship, if
          Hal ini mencakup situasi ketika instrumen                             applicable). This includes instances when the
          lindung nilai kedaluwarsa atau dijual,                                hedging instrument expires or is sold,
          dihentikan atau dieksekusi. Untuk tujuan ini,                         terminated or exercised. For this purpose, the
          penggantian      atau    perpanjangan     suatu                       replacement or rollover of a hedging
          instrumen lindung nilai ke dalam instrumen                            instrument into another hedging instrument is
          lindung nilai lainnya bukan merupakan suatu                           not an expiration or termination if such a
          peristiwa kedaluwarsa atau penghentian jika                           replacement or rollover is part of, and
          penggantian atau perpanjangan tersebut                                consistent with, the entity’s documented risk
          merupakan bagian dari, dan konsisten dengan,                          management objective.
          tujuan manajemen risiko entitas yang
          terdokumentasi.

                                                               30
Page 273
                                                                          The original consolidated financial statements included herein are in
                                                                                                                         Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                     PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                    (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                     AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                        NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                        STATEMENTS
31 Desember 2023 dan 2022                                            December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                  and for the years then ended
pada tanggal tersebut                                                (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


3.   INFORMASI       KEBIJAKAN                AKUNTANSI              3.    MATERIAL      ACCOUNTING                              POLICIES
     MATERIAL (lanjutan)                                                   INFORMATION (continued)

     i.   Instrumen     keuangan       derivatif        dan                i.    Derivative financial instruments and hedge
          akuntansi lindung nilai (lanjutan)                                     accounting (continued)

          Lindung Nilai atas Arus Kas                                            Cash Flow Hedges

          Untuk lindung nilai atas arus kas yang                                 For a cash flow hedge meets the qualifying
          memenuhi kriteria kualifikasian, hubungan                              criteria, the hedging relationship be accounted
          lindung nilai dicatat sebagai berikut:                                 for as follows:

             komponen ekuitas terpisah yang terkait                                the separate component of equity
              dengan item lindung nilai (cadangan                                    associated with the hedged item (cash flow
              lindung nilai atas arus kas) disesuaikan                               hedge reserve) is adjusted to the lower of
              dengan jumlah yang lebih rendah (dalam                                 the following (in absolute amounts): (i) the
              jumlah absolut) antara: (i) keuntungan atau                            cumulative gain or loss on the hedging
              kerugian kumulatif atas instrumen lindung                              instrument from inception of the hedge; and
              nilai sejak dimulainya lindung nilai; dan (ii)                         (ii) the cumulative change in fair value
              perubahan kumulatif pada nilai wajar (nilai                            (present value) of the hedged item (i.e. the
              kini) dari item lindung nilai (yaitu nilai kini                        present value of the cumulative change in
              dari perubahan kumulatif dalam arus kas                                the hedged expected future cash flows)
              masa depan ekspektasian yang dilindung                                 from inception of the hedge.
              nilai) sejak dimulainya lindung nilai.

             bagian dari keuntungan atau kerugian atas                              the portion of the gain or loss on the
              instrumen lindung nilai yang ditentukan                                 hedging instrument that is determined to
              sebagai lindung nilai yang efektif (yaitu                               be an effective hedge (i.e. the portion that
              bagian yang saling hapus oleh perubahan                                 is offset by the change in the cash flow
              dalam cadangan lindung nilai atas arus kas                              hedge reserve calculated) shall be
              yang dihitung) diakui dalam penghasilan                                 recognized in other comprehensive
              komprehensif lain.                                                      income.

             setiap sisa keuntungan atau kerugian atas                              any remaining gain or loss on the hedging
              instrumen lindung nilai (atau keuntungan                                instrument (or any gain or loss required to
              atau kerugian yang disyaratkan untuk                                    balance the change in the cash flow hedge
              menyeimbangkan perubahan cadangan                                       reserve      calculated)      is      hedge
              lindung nilai atas arus kas yang dihitung)                              ineffectiveness that shall be recognized in
              merupakan ketidakefektifan lindung nilai                                consolidated statement of profit or loss.
              yang diakui dalam laporan laba rugi
              konsolidasian.

             jumlah yang telah diakumulasikan dalam                                  the amount that has been accumulated in
              cadangan lindung nilai atas arus kas                                     the cash flow hedge reserve shall be
              harus dicatat sebagai berikut:                                           accounted for as follows:




                                                                31
Page 274
                                                                               The original consolidated financial statements included herein are in
                                                                                                                              Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                          PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                         (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                          AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                             NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                             STATEMENTS
31 Desember 2023 dan 2022                                                 December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                       and for the years then ended
pada tanggal tersebut                                                     (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


3.   INFORMASI       KEBIJAKAN                    AKUNTANSI               3.    MATERIAL      ACCOUNTING                              POLICIES
     MATERIAL (lanjutan)                                                        INFORMATION (continued)

     i.   Instrumen     keuangan       derivatif             dan                i.    Derivative financial instruments and hedge
          akuntansi lindung nilai (lanjutan)                                          accounting (continued)

          Lindung Nilai atas Arus Kas (lanjutan)                                      Cash Flow Hedges (continued)

              i.     jika    prakiraan      transaksi      yang                             i.     if a hedged forecast transaction
                     dilindung          nilai          kemudian                                    subsequently        results      in   the
                     menghasilkan pengakuan aset non-                                              recognition of a non-financial asset or
                     keuangan       atau      liabilitas    non-                                   non-financial liability, or a hedged
                     keuangan, atau prakiraan transaksi                                            forecast transaction for a nonfinancial
                     yang dilindung nilai untuk aset non-                                          asset or a non-financial liability
                     keuangan       atau      liabilitas    non-                                   becomes a firm commitment for
                     keuangan menjadi komitmen pasti di                                            which fair value hedge accounting is
                     mana akuntansi lindung nilai atas nilai                                       applied, the entity shall remove that
                     wajar diterapkan, maka entitas                                                amount from the cash flow hedge
                     menghapus jumlah tersebut dari                                                reserve and include it directly in the
                     cadangan lindung nilai atas arus kas                                          initial cost or other carrying amount of
                     dan memasukkannya ke dalam biaya                                              the asset or the liability. This is not a
                     awal atau nilai tercatat lain dari aset                                       reclassification adjustment and hence
                     atau liabilitas. Hal ini bukan                                                it      does      not     affect    other
                     merupakan penyesuaian reklasifikasi                                           comprehensive income.
                     dan       dengan       demikian        tidak
                     berdampak         pada        penghasilan
                     komprehensif lain.
              ii.    untuk lindung nilai atas arus kas                                      ii.    for cash flow hedges other than those
                     selain yang dicakup oleh (i), jumlah                                          covered by (i), that amount shall be
                     tersebut harus direklasifikasi dari                                           reclassified from the cash flow hedge
                     cadangan lindung nilai atas arus kas                                          reserve to profit or loss as a
                     ke    dalam      laba      rugi     sebagai                                   reclassification adjustment in the
                     penyesuaian        reklasifikasi      pada                                    same period or periods during which
                     periode yang sama atau periode                                                the hedged expected future cash
                     selama arus kas masa depan                                                    flows affect profit or loss (for
                     ekspektasian yang dilindung nilai                                             example, in the periods that interest
                     akan mempengaruhi laba                   rugi                                 income or interest expense is
                     (contohnya, pada periode dimana                                               recognized or when a forecast sale
                     pendapatan bunga atau beban bunga                                             occurs).
                     diakui atau ketika prakiraan penjualan
                     terjadi).
              iii.   akan tetapi, jika jumlah tersebut                                      iii.   however, if that amount is a loss and
                     menunjukkan kerugian dan entitas                                              an entity expects that all or a portion
                     memperkirakan bahwa seluruh atau                                              of that loss will not be recovered in
                     sebagian kerugian tersebut tidak                                              one or more future periods, it shall
                     akan dapat dipulihkan dalam satu                                              immediately reclassify the amount
                     atau lebih periode di masa depan,                                             that is not expected to be recovered
                     entitas harus segera mereklasifikasi                                          into profit or loss as a reclassification
                     jumlah yang diperkirakan tidak akan                                           adjustment.
                     dapat dipulihkan ke dalam laba rugi
                     sebagai penyesuaian reklasifikasi.




                                                                     32
Page 275
                                                                      The original consolidated financial statements included herein are in
                                                                                                                     Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                 PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                 AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                    STATEMENTS
31 Desember 2023 dan 2022                                        December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                              and for the years then ended
pada tanggal tersebut                                            (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


3.   INFORMASI       KEBIJAKAN             AKUNTANSI             3.    MATERIAL      ACCOUNTING                              POLICIES
     MATERIAL (lanjutan)                                               INFORMATION (continued)

     j.   Saling Hapus antar Aset Keuangan dan                         j.    Netting of Financial Assets and Financial
          Liabilitas Keuangan                                                Liabilities

          Aset keuangan dan liabilitas keuangan                              Financial assets and financial liabilities are
          disalinghapuskan dan nilai netonya disajikan                       offset and the net amount presented in the
          dalam laporan posisi keuangan konsolidasian                        consolidated statement of financial position
          jika Grup saat ini memiliki hak yang dapat                         when the Group has currently a legally
          dipaksakan secara hukum untuk melakukan                            enforceable right to set off the recognized
          saling hapus atas jumlah yang telah diakui;                        amounts; and intends either to settle on a net
          dan berintensi untuk menyelesaikan secara                          basis, or to realize the asset and settle the
          neto atau untuk merealisasikan aset dan                            liability simultaneously. A right to set-off must
          menyelesaikan liabilitasnya secara simultan.                       be available today rather than being contingent
          Hak saling hapus dapat ada pada saat ini                           on a future event and must be exercisable by
          daripada bersifat kontinjen atas terjadinya                        any of the counterparties, both in the normal
          suatu peristiwa di masa depan dan harus                            course of business and in the event of default,
          dieksekusi oleh pihak lawan, baik dalam                            insolvency or bankruptcy.
          situasi bisnis normal dan dalam peristiwa gagal
          bayar, peristiwa kepailitan atau kebangkrutan.

     k.   Kas dan Setara Kas                                           k.    Cash and Cash Equivalents

          Kas dan setara kas terdiri dari kas, bank dan                      Cash and cash equivalents consist of cash on
          semua investasi yang jatuh tempo dalam                             hand and in banks and all unrestricted
          waktu tiga bulan atau kurang dari tanggal                          investments with maturities of three months or
          perolehannya dan yang tidak dijaminkan serta                       less from the date of placement.
          tidak dibatasi penggunaannya.

     l.   Persediaan                                                   l.    Inventories

          Persediaan dinyatakan berdasarkan biaya                            Inventories are stated at cost or net realizable
          perolehan atau nilai realisasi bersih, mana                        value, whichever is lower. Cost includes all
          yang lebih rendah. Biaya mencakup semua                            expenses      directly   attributable   to   the
          beban yang dapat diatribusikan secara                              manufacturing process as well as suitable
          langsung ke proses manufaktur serta porsi                          portions of related production overheads,
          yang sesuai dari overhead produksi terkait,                        based on normal operating capacity. Cost is
          berdasarkan kapasitas operasi normal. Biaya                        determined using the average method. Net
          perolehan ditentukan dengan metode rata-                           realizable value represents the estimated
          rata. Nilai realisasi bersih merupakan estimasi                    selling price for inventories less all estimated
          harga jual dari persediaan dikurangi seluruh                       costs of completion and costs necessary to the
          biaya penyelesaian dan estimasi biaya yang                         sale.
          diperlukan untuk penjualan.

     m. Biaya Dibayar Dimuka                                           m. Prepaid Expenses

          Biaya dibayar dimuka diamortisasi selama                           Prepaid expenses are amortized over their
          manfaat   masing-masing    biaya  dengan                           beneficial periods using the straight-line
          menggunakan metode garis lurus.                                    method.




                                                            33
Page 276
                                                                       The original consolidated financial statements included herein are in
                                                                                                                      Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                  PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                 (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                  AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                     STATEMENTS
31 Desember 2023 dan 2022                                         December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                               and for the years then ended
pada tanggal tersebut                                             (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


3.   INFORMASI       KEBIJAKAN              AKUNTANSI             3.    MATERIAL      ACCOUNTING                              POLICIES
     MATERIAL (lanjutan)                                                INFORMATION (continued)

     n.   Aset Tetap                                                    n.    Property, Plant and Equipment

          Grup menggunakan model revaluasi dalam                              The Group measures its LPG plant, machinery
          pengukuran pabrik elpiji, mesin dan peralatan                       and equipment and buildings at revaluation
          dan bangunan. Perubahan ini diterapkan                              model. LPG plant, machinery and equipment
          secara prospektif. Pabrik elpiji, mesin dan                         and buildings are stated at their revalued
          peralatan     dan      bangunan       dinyatakan                    amounts, being the fair value at the date of
          berdasarkan nilai revaluasi yang merupakan                          revaluation, less any subsequent accumulated
          nilai wajar pada tanggal revaluasi dikurangi                        depreciation and subsequent accumulated
          akumulasi penyusutan dan akumulasi rugi                             impairment losses. Revaluation is made with
          penurunan nilai yang terjadi setelah tanggal                        sufficient regularity to ensure that the carrying
          revaluasi.   Revaluasi     dilakukan      dengan                    amount does not differ materially from that
          keteraturan yang memadai untuk memastikan                           which would be determined the using fair value
          bahwa jumlah tercatat tidak berbeda secara                          at the reporting date. Asset with insignificant
          material dari jumlah yang ditentukan dengan                         changes in fair value, must be revalue at least
          menggunakan nilai wajar pada tanggal                                every 3 (three) years.
          laporan.    Aset    yang    tidak     mengalami
          perubahan nilai wajar secara signifikan wajib
          direvaluasi paling kurang setiap 3 (tiga) tahun.

          Jika aset tetap direvaluasi, maka pada tanggal                      If property, plant and equipment are revalued,
          revaluasi jumlah tercatat dari aset tetap                           then on the revaluation date the carrying
          disesuaikan pada jumlah revaluasiannya                              amount of property, plant and equipment is
          dengan mengeliminasi akumulasi penyusutan                           adjusted to the revaluation amount by
          terhadap jumlah tercatat bruto aset.                                eliminating accumulated depreciation from the
                                                                              gross carrying amount of the asset.

          Kenaikan yang berasal dari revaluasi pabrik                         Any revaluation increase arising on the
          elpiji, mesin dan peralatan dan bangunan                            revaluation of such LPG plant, machinery and
          diakui pada penghasilan komprehensif lain dan                       equipment and buildings is recognized in other
          terakumulasi dalam ekuitas pada bagian                              comprehensive income and accumulated in
          surplus    revaluasi    aset   tetap,   kecuali                     equity under the heading of surplus revaluation
          sebelumnya penurunan revaluasi atas aset                            of property, plant and equipment, except to the
          yang sama pernah diakui dalam laporan laba                          extent that it reverses a revaluation decrease,
          rugi, dalam hal ini kenaikan revaluasi hingga                       for the same asset which was previously
          sebesar penurunan nilai aset akibat revaluasi                       recognized in profit or loss, in which case the
          tersebut, dikreditkan dalam laporan laba rugi.                      increase is credited to profit or loss to the
                                                                              extent of the decrease previously charged.

          Penurunan jumlah tercatat yang berasal dari                         A decrease in carrying amount arising on the
          revaluasi pabrik elpiji, mesin dan peralatan dan                    revaluation of such LPG plant, machinery and
          bangunan dibebankan dalam laporan laba rugi                         equipment and buildings is charged to profit or
          apabila penurunan tersebut melebihi saldo                           loss to the extent that it exceeds the balance, if
          surplus revaluasi aset yang bersangkutan, jika                      any, held in the revaluation reserve relating to
          ada.                                                                a previous revaluation of such LPG plant,
                                                                              machinery and equipment and buildings.

          Penyusutan atas pabrik elpiji, mesin dan                            Depreciation on revalued LPG plant,
          peralatan dan bangunan yang direvaluasi                             machinery and equipment and buildings are
          diakui ke dalam laba rugi. Surplus revaluasi                        recognized in profit or loss. The gain on
          pabrik elpiji, mesin dan peralatan dan                              revaluation in respect of LPG plant, machinery
          bangunan yang telah disajikan dalam ekuitas                         and equipment and buildings is directly
          dipindahkan langsung ke saldo laba secara                           transferred to retained earnings systematically
          sistematis selama masa manfaat aset.                                basis over the life of the assets.




                                                             34
Page 277
                                                                    The original consolidated financial statements included herein are in
                                                                                                                   Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                               PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                              (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                               AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                  NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                  STATEMENTS
31 Desember 2023 dan 2022                                      December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                            and for the years then ended
pada tanggal tersebut                                          (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


3.   INFORMASI       KEBIJAKAN            AKUNTANSI            3.    MATERIAL      ACCOUNTING                              POLICIES
     MATERIAL (lanjutan)                                             INFORMATION (continued)

     n.   Aset Tetap (lanjutan)                                      n.    Property, Plant and Equipment (continued)

          Kenaikan revaluasi yang diakui di penghasilan                    Revaluation increment recognized in other
          komprehensif lainnya tidak digunakan untuk                       comprehensive income is not available for
          sebagai pembagian dividen.                                       dividend distribution.

          Untuk pabrik amonia, mesin dan peralatan,                        For ammonia plant, machinery and equipment,
          peralatan transportasi, serta perlengkapan,                      transportation equipment and office furniture,
          peralatan dan perabot kantor dicatat                             fixtures are stated at cost, less accumulated
          berdasarkan biaya perolehan setelah dikurangi                    depreciation and any accumulated impairment
          akumulasi penyusutan dan akumulasi kerugian                      losses.
          penurunan nilai.

          Penyusutan diakui dengan metode garis lurus                      Depreciation is recognized using the straight-
          berdasarkan taksiran masa manfaat ekonomis                       line method based on the estimated life of the
          aset tetap sebagai berikut:                                      property, plant and equipment as follows:

                                                          Tahun/
                                                           Years

          Bangunan                                        10 - 20              Building
          Pabrik elpiji, mesin dan peralatan              4 - 16               LPG plant, machinery and equipment
          Pabrik amonia, mesin dan peralatan                16                 Ammonia plant, machinery and equipment
          Perlengkapan, peralatan dan perabot kantor       4-5                 Office furniture, fixtures and equipment
          Peralatan transportasi                             5                 Transportation equipment

          Masa manfaat ekonomis, nilai residu dan                          The estimated useful lives, residual values and
          metode penyusutan ditelaah setiap akhir tahun                    depreciation method are reviewed at each
          dan pengaruh dari setiap perubahan estimasi                      year end, with the effect of any changes in
          tersebut berlaku prospektif.                                     estimate accounted for on a prospective basis.

          Hak atas tanah dinyatakan berdasarkan biaya                      Landright is stated at cost and is not
          perolehan dan tidak disusutkan. Biaya legal                      depreciated. The legal cost of land rights upon
          pengurusan hak atas tanah pada saat                              acquisition of the land is recognized as part of
          perolehan tanah tersebut diakui sebagai                          the cost of landright.
          bagian dari biaya perolehan hak atas tanah.

          Beban      pemeliharaan     dan    perbaikan                     The cost of maintenance and repairs is
          dibebankan pada laba rugi pada saat                              charged to profit or loss as incurred. Other
          terjadinya. Biaya-biaya lain yang terjadi                        costs incurred subsequently to add to, replace
          selanjutnya yang timbul untuk menambah,                          part of, or service an item of property, plant
          mengganti atau memperbaiki aset tetap dicatat                    and equipment, are recognized as asset if, and
          sebagai biaya perolehan aset jika dan hanya                      only if it is probable that future economic
          jika besar kemungkinan manfaat ekonomis di                       benefits associated with the item will flow to
          masa depan berkenaan dengan aset tersebut                        the entity and the cost of the item can be
          akan mengalir ke entitas dan biaya perolehan                     measured reliably.
          aset dapat diukur secara andal.




                                                          35
Page 278
                                                                        The original consolidated financial statements included herein are in
                                                                                                                       Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                   PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                  (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                   AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                      STATEMENTS
31 Desember 2023 dan 2022                                          December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                and for the years then ended
pada tanggal tersebut                                              (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


3.   INFORMASI       KEBIJAKAN               AKUNTANSI             3.    MATERIAL      ACCOUNTING                              POLICIES
     MATERIAL (lanjutan)                                                 INFORMATION (continued)

     n.   Aset Tetap (lanjutan)                                          n.    Property, Plant and Equipment (continued)

          Aset tetap dihentikan pengakuannya pada saat                         An item of property, plant and equipment is
          pelepasan atau ketika tidak ada manfaat                              derecognized upon disposal or when no future
          ekonomik masa depan yang diharapkan timbul                           economic benefits are expected to arise from
          dari penggunaan aset secara berkelanjutan.                           the continued use of the asset. Any gain or
          Keuntungan atau kerugian yang timbul dari                            loss arising on the disposal or retirement of an
          pelepasan atau penghentian pengakuan suatu                           item of property, plant and equipment is
          aset tetap ditentukan sebagai selisih antara                         determined as the difference between the
          hasil penjualan dan nilai tercatat aset dan                          sales proceeds and the carrying amount of the
          diakui dalam laba rugi.                                              asset and is recognized in profit or loss.

          Aset tetap dalam proses pembangunan                                  Construction in progress is stated at cost and
          dinyatakan sebesar biaya perolehan dan akan                          transferred to the respective property, plant
          dipindahkan ke masing-masing aset tetap                              and equipment account when completed and
          yang bersangkutan pada saat selesai dan siap                         ready for use.
          digunakan.

     o.   Goodwill                                                       o.    Goodwill

          Goodwill merupakan manfaat ekonomi masa                              Goodwill represents the future economic
          depan yang timbul atas akuisisi dari suatu                           benefits arising on an acquisition of a business
          bisnis yang dicatat pada biaya perolehan yang                        is carried at cost as established at the date of
          ditetapkan pada tanggal akuisisi dari bisnis                         acquisition of the business (see Note 3d
          tersebut (lihat Catatan 3d di atas) dikurangi                        above) less accumulated impairment losses, if
          akumulasi penurunan nilai, jika ada.                                 any.

     p.   Penurunan Nilai Aset Non-keuangan dan                          p.    Impairment of Non-Financial Asset and
          Goodwill                                                             Goodwill

          Untuk tujuan penilaian penurunan nilai, aset                         For impairment assessment purposes, assets
          dikelompokkan hingga unit terkecil yang                              are grouped at the lowest levels for which
          menghasilkan arus kas masuk independen                               there are largely independent cash inflows
          (unit penghasil kas). Akibatnya, beberapa aset                       (cash-generating units). As a result, some
          diuji secara individual untuk penurunan nilai                        assets are tested individually for impairment
          dan beberapa diuji pada tingkat unit penghasil                       and some are tested at cash-generating unit
          kas. Goodwill dialokasikan ke unit penghasil                         level. Goodwill is allocated to those cash
          kas yang diharapkan akan mendapat manfaat                            generating units that are expected to benefit
          dari sinergi dari kombinasi bisnis terkait dan                       from synergies of a related business
          mewakili level terendah dalam Grup di mana                           combination and represent the lowest level
          manajemen memantau goodwill.                                         within the Group at which management
                                                                               monitors goodwill.

          Kebijakan akuntansi untuk penurunan nilai                            Accounting policy for impairment of financial
          aset keuangan dijelaskan dalam Catatan 3h.                           assets is discussed in Note 3h.

          Unit penghasil kas untuk goodwill yang telah                         Cash-generating units to which goodwill has
          dialokasikan (ditentukan oleh manajemen                              been allocated (determined by the Group’s
          Grup setara dengan segmen operasinya) diuji                          management as equivalent to its operating
          penurunan nilainya paling tidak setiap tahun.                        segments) are tested for impairment at least
          Semua aset individual atau unit penghasil kas                        annually. All other individual assets or cash
          diuji untuk penurunan nilai setiap kali peristiwa                    generating units are tested for impairment
          atau       perubahan        keadaan         yang                     whenever events or changes in circumstances
          mengindikasikan bahwa nilai tercatatnya                              indicate that the carrying amount may not be
          mungkin tidak dapat dipulihkan.                                      recoverable.

                                                              36
Page 279
                                                                      The original consolidated financial statements included herein are in
                                                                                                                     Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                 PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                 AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                    STATEMENTS
31 Desember 2023 dan 2022                                        December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                              and for the years then ended
pada tanggal tersebut                                            (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


3.   INFORMASI       KEBIJAKAN             AKUNTANSI             3.    MATERIAL      ACCOUNTING                              POLICIES
     MATERIAL (lanjutan)                                               INFORMATION (continued)

     p.   Penurunan Nilai Aset Non-keuangan dan                        p.    Impairment of Non-Financial Asset and
          Goodwill (lanjutan)                                                Goodwill (continued)

          Kerugian penurunan nilai diakui untuk jumlah                       An impairment loss is recognized for the
          dimana nilai tercatat aset (atau unit penghasil                    amount by which the asset’s (or cash
          kas) melebihi jumlah yang dapat dipulihkan,                        generating unit’s) carrying amount exceeds its
          yang mana lebih tinggi dari nilai wajar                            recoverable amount, which is the higher of fair
          dikurangi biaya pelepasan dan nilai pakai.                         value less costs of disposal and value-in use.
          Untuk menentukan nilai pakai, manajemen                            To determine the value-in-use, management
          memperkirakan arus kas masa depan yang                             estimates expected future cash flows from
          diharapkan dari setiap unit penghasil kas dan                      each cash-generating unit and determines a
          menentukan tingkat diskonto yang sesuai                            suitable discount rate in order to calculate the
          untuk menghitung nilai kini dari arus kas                          present value of those cash flows. The data
          tersebut. Data yang digunakan untuk prosedur                       used for impairment testing procedures are
          pengujian penurunan nilai secara langsung                          directly linked to the Group’s latest approved
          terkait dengan anggaran terbaru Grup yang                          budget, adjusted as necessary to exclude the
          disetujui, disesuaikan seperlunya untuk                            effects of future reorganisations and asset
          mengecualikan efek reorganisasi di masa                            enhancements.        Discount     factors    are
          depan dan peningkatan aset. Faktor diskon                          determined individually for each cash-
          ditentukan secara terpisah untuk setiap unit                       generating unit and reflect current market
          penghasil kas dan mencerminkan penilaian                           assessments of the time value of money and
          pasar saat ini dari nilai waktu uang dan faktor                    asset-specific risk factors.
          risiko spesifik aset.

          Kerugian penurunan nilai untuk unit penghasil                      Impairment losses for cash-generating units
          kas mengurangi terlebih dahulu jumlah tercatat                     reduce first the carrying amount of any
          dari goodwill yang dialokasikan untuk unit                         goodwill allocated to that cash-generating unit.
          penghasil kas. Kerugian penurunan nilai yang                       Any remaining impairment loss is charged pro
          tersisa dibebankan secara pro rata ke aset lain                    rata to the other assets in the cash-generating
          di unit penghasil kas. Dengan pengecualian                         unit. With the exception of goodwill, all assets
          goodwill, semua aset kemudian dinilai kembali                      are subsequently reassessed for indications
          untuk indikasi bahwa kerugian penurunan nilai                      that an impairment loss previously recognized
          yang sebelumnya diakui mungkin tidak ada                           may no longer exist. An impairment loss is
          lagi. Kerugian penurunan nilai dibalik jika                        reversed if the asset’s or cash-generating
          jumlah terpulihkan aset atau unit penghasil kas                    unit’s recoverable amount exceeds its carrying
          melebihi jumlah tercatatnya.                                       amount.

          Pemulihan rugi penurunan nilai untuk aset                          Reversal of an impairment loss for assets
          selain goodwill, diakui jika dan hanya jika,                       other than goodwill would be recognised if and
          terdapat perubahan estimasi yang digunakan                         only if, there has been a change in the
          dalam menentukan jumlah terpulihkan aset                           estimates used to determine the asset’s
          sejak pengujian penurunan nilai terakhir kali.                     recoverable amount since the last impairment
          Jika terjadi pemulihan nilai, maka langsung                        test was carried out. Reversal is immediately
          diakui dalam laba rugi, tetapi tidak boleh                         recognised in profit or loss, but not in excess
          melebihi akumulasi rugi penurunan nilai yang                       of any accumulated impairment loss previously
          telah diakui sebelumnya.                                           recognised.




                                                            37
Page 280
                                                                       The original consolidated financial statements included herein are in
                                                                                                                      Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                  PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                 (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                  AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                     STATEMENTS
31 Desember 2023 dan 2022                                         December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                               and for the years then ended
pada tanggal tersebut                                             (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


3.   INFORMASI       KEBIJAKAN              AKUNTANSI             3.    MATERIAL      ACCOUNTING                              POLICIES
     MATERIAL (lanjutan)                                                INFORMATION (continued)

     q.   Sewa                                                          q.    Leases

          Sebagai Penyewa                                                     As Lessee

          Grup membuat perjanjian sewa terutama untuk                         The Group makes the use of leasing
          minibus dan tanah. Kontrak sewa untuk                               arrangements principally for the minibus and
          minibus untuk jangka waktu 5 tahun. Jangka                          land. The rental contracts for minibus are
          waktu sewa untuk tanah adalah 7 tahun dan                           typically negotiated for terms of 5 year. Lease
          ada perpanjangan jangka waktu. Grup tidak                           terms for land are 7 years with extension
          mengadakan perjanjian jual dan sewa balik.                          terms. The Group does not enter into sale and
          Semua sewa dinegosiasikan secara individual                         leaseback arrangements. All the leases are
          dan berisi berbagai macam syarat dan                                negotiated on an individual basis and contain a
          ketentuan yang berbeda.                                             wide variety of different terms and conditions.

          Grup mempertimbangkan apakah suatu                                  The Group considers whether a contract is, or
          kontrak adalah, atau mengandung sewa pada                           contains a lease at inception of the contract. A
          saat awal kontrak. Sewa didefinisikan sebagai                       lease is defined as “a contract, or part of a
          “kontrak, atau bagian dari kontrak, yang                            contract, that conveys the right to use an asset
          menyampaikan hak untuk menggunakan aset                             (the underlying asset) for a period of time in
          (aset pendasar) untuk suatu jangka waktu                            exchange for consideration”. To apply this
          tertentu untuk dipertukarkan dengan imbalan”.                       definition the Group assesses whether the
          Untuk menerapkan definisi ini, Grup menilai                         contract meets three key evaluations which are
          apakah kontrak memenuhi tiga evaluasi                               whether:
          utama, yaitu apakah:

          -   kontrak tersebut berisi aset identifikasian,                     -     the contract contains an identified asset,
              yang diidentifikasikan secara eksplisit                                which is either explicitly identified in the
              dalam kontrak atau secara implisit                                     contract or implicitly specified by being
              ditentukan dengan diidentifikasi pada                                  identified at the time the asset is made
              saat aset tersebut tersedia untuk Grup.                                available to the Group.

          -   Grup memiliki hak untuk memperoleh                               -     the Group has the right to obtain
              secara substansial seluruh manfaat                                     substantially all of the economic benefits
              ekonomik       dari penggunaan    asset                                from use of the identified asset
              identifikasian      selama      periode                                throughout the period of use, considering
              penggunaan, dengan mempertimbangkan                                    its rights within the defined scope of the
              haknya dalam ruang lingkup kontrak yang                                contract.
              ditentukan.

          -   Grup memiliki hak untuk mengarahkan                              -     the Group has the right to direct the use
              penggunaan aset identifikasian selama                                  of the identified asset throughout the
              periode penggunaan. Grup menilai                                       period of use. The Group assess whether
              apakah Grup memiliki hak untuk                                         it has the right to direct “how and for what
              mengarahkan “bagaimana dan untuk                                       purpose” the asset is used throughout the
              tujuan apa” aset digunakan selama                                      period of use.
              periode penggunaan.

          Beberapa     kontrak   sewa     mengandung                          Some lease contracts contain both lease and
          komponen sewa dan nonsewa. Komponen                                 non-lease components. These non-lease
          nonsewa ini biasanya terkait dengan layanan                         components are usually associated with rent of
          rental kendaraan bermotor.                                          vehicles.




                                                             38
Page 281
                                                                      The original consolidated financial statements included herein are in
                                                                                                                     Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                 PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                 AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                    STATEMENTS
31 Desember 2023 dan 2022                                        December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                              and for the years then ended
pada tanggal tersebut                                            (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


3.   INFORMASI       KEBIJAKAN             AKUNTANSI             3.    MATERIAL      ACCOUNTING                              POLICIES
     MATERIAL (lanjutan)                                               INFORMATION (continued)

     q.   Sewa (lanjutan)                                              q.    Leases (continued)

          Pada tanggal permulaan sewa, Grup                                  At lease commencement date, the Group
          mengakui aset hak-guna dan liabilitas sewa di                      recognizes a right-of-use asset and a lease
          laporan posisi keuangan konsolidasian. Aset                        liability on the consolidated statement of
          hak-guna diukur sebesar biaya perolehan,                           financial position. The right-of-use asset is
          yang terdiri dari pengukuran awal liabilitas                       measured at cost, which is made up of the
          sewa, setiap biaya langsung awal yang                              initial measurement of the lease liability, any
          dikeluarkan oleh Grup, dan pembayaran sewa                         initial direct costs incurred by the Group and
          yang dilakukan sebelum tanggal dimulainya                          any lease payments made in advance of the
          sewa.                                                              lease commencement date.

          Grup mendepresiasi aset hak-guna dengan                            The Group depreciates the right-of-use assets
          metode garis lurus dari tanggal mulai sewa                         on a straight-line basis from the lease
          sampai mana yang lebih awal dari akhir masa                        commencement date to the earlier of the end
          manfaat aset hak-guna atau akhir masa sewa.                        of the useful life of the right-of-use asset or the
          Grup juga menilai penurunan nilai aset hak-                        end of the lease term. The Group also
          guna jika indikator tersebut ada.                                  assesses the right-of-use asset for impairment
                                                                             when such indicators exist.

          Pada tanggal permulaan, Grup mengukur                              At the commencement date, the Group
          liabilitas sewa pada nilai kini dari pembayaran                    measures the lease liability at the present
          sewa yang belum dibayar pada tanggal                               value of the lease payments unpaid at that
          tersebut, didiskontokan menggunakan suku                           date, discounted using the interest rate implicit
          bunga implisit dalam sewa jika suku bunga                          in the lease if that rate is readily available or
          tersebut sudah tersedia atau suku bunga                            the Group’s incremental borrowing rate.
          inkremental pinjaman Grup.

          Pembayaran sewa yang termasuk dalam                                Lease payments included in the measurement
          pengukuran liabilitas sewa terdiri dari                            of the lease liability are made up of fixed
          pembayaran tetap (termasuk dalam substansi                         payments (including in substance fixed).
          tetap).

          Setelah pengukuran awal, liabilitas akan                           Subsequent to initial measurement, the liability
          berkurang untuk pembayaran yang dilakukan                          will be reduced for payments made and
          dan bertambah untuk bunga. Ini diukur kembali                      increased for interest. It is remeasured to
          untuk mencerminkan penilaian ulang atau                            reflect any reassessment or modification, or if
          modifikasi, atau jika ada perubahan dalam                          there are changes in in-substance fixed
          pembayaran tetap yang substansial.                                 payments.

          Liabilitas sewa dinilai kembali ketika ada                         The lease liability is reassessed when there is
          perubahan       dalam    pembayaran     sewa.                      a change in the lease payments. Changes in
          Perubahan pembayaran sewa yang timbul dari                         lease payments arising from a change in the
          perubahan masa sewa atau perubahan                                 lease term or a change in the assessment of
          penilaian opsi untuk membeli aset sewaan.                          an option to purchase a leased asset. The
          Pembayaran sewa yang direvisi didiskontokan                        revised lease payments are discounted using
          dengan menggunakan suku bunga pinjaman                             the Group’s incremental borrowing rate at the
          inkremental Grup pada tanggal penilaian                            date of reassessment when the rate implicit in
          kembali ketika suku bunga implisit dalam sewa                      the lease cannot be readily determined. The
          tidak mudah ditentukan. Jumlah pengukuran                          amount of the remeasurement of the lease
          kembali liabilitas sewa mencerminkan sebagai                       liability is reflected as an adjustment to the
          penyesuaian terhadap jumlah tercatat aset                          carrying amount of the right-of-use asset. The
          hak-guna. Pengecualian adalah ketika nilai                         exception being when the carrying amount of
          tercatat aset hak-guna telah dikurangi menjadi                     the right-of-use asset has been reduced to
          nol, maka setiap kelebihannya diakui dalam                         zero then any excess is recognized in profit or
          laba rugi.                                                         loss.
                                                            39
Page 282
                                                                       The original consolidated financial statements included herein are in
                                                                                                                      Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                  PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                 (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                  AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                     STATEMENTS
31 Desember 2023 dan 2022                                         December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                               and for the years then ended
pada tanggal tersebut                                             (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


3.   INFORMASI       KEBIJAKAN              AKUNTANSI             3.    MATERIAL      ACCOUNTING                              POLICIES
     MATERIAL (lanjutan)                                                INFORMATION (continued)

     q.   Sewa (lanjutan)                                               q.    Leases (continued)

          Pembayaran sewa juga dapat berubah bila                             Payments under leases can also change when
          ada perubahan dalam jumlah yang diharapkan                          there is either a change in the amounts
          akan dibayar berdasarkan jaminan nilai                              expected to be paid under residual value
          residual atau ketika pembayaran di masa                             guarantees or when future payments change
          depan berubah melalui indeks atau suku                              through an index or a rate used to determine
          bunga yang digunakan untuk menentukan                               those payments, including changes in market
          pembayaran tersebut, termasuk perubahan                             rental rates following a market rent review. The
          tarif sewa pasar setelah tinjauan sewa pasar.                       lease liability is remeasured only when the
          Liabilitas sewa diukur kembali hanya jika                           adjustment to lease payments takes effect and
          penyesuaian pembayaran sewa berlaku dan                             the revised contractual payments for the
          pembayaran kontraktual yang direvisi untuk                          remainder of the lease term are discounted
          sisa masa sewa didiskontokan dengan                                 using an unchanged discount rate. Except for
          menggunakan tingkat diskonto yang tidak                             where the change in lease payments results
          berubah. Kecuali jika perubahan pembayaran                          from a change in floating interest rates, in
          sewa diakibatkan oleh perubahan suku bunga                          which case the discount rate is amended to
          mengambang, dalam hal ini tingkat diskonto                          reflect the change in interest rates.
          diubah untuk mencerminkan perubahan suku
          bunga.

          Pengukuran      kembali    liabilitas sewa                          The remeasurement of the lease liability is
          diselesaikan dengan pengurangan jumlah                              dealt with by a reduction in the carrying
          tercatat aset hak-guna untuk mencerminkan                           amount of the right-of-use asset to reflect the
          penghentian sewa secara penuh atau                                  full or partial termination of the lease for lease
          sebagian untuk modifikasi sewa yang                                 modifications that reduce the scope of the
          mengurangi ruang lingkup sewa. Keuntungan                           lease. Any gain or loss relating to the partial or
          atau kerugian yang berkaitan dengan                                 full termination of the lease is recognized in
          penghentian sebagian atau seluruh sewa                              profit or loss. The right-of-use asset is adjusted
          diakui dalam laba rugi. Aset hak-guna                               for all other lease modifications.
          disesuaikan untuk semua modifikasi sewa
          lainnya.

          Grup telah memilih untuk memperhitungkan                            The Group has elected to account for short-
          sewa jangka pendek dan sewa guna aset                               term leases and leases of low-value assets
          bernilai rendah dengan menggunakan cara                             using the practical expedients. Instead of
          praktis. Dari pada mengakui aset hak-guna                           recognising a right-of-use asset and lease
          dan liabilitas sewa, pembayaran sehubungan                          liability, the payments in relation to these are
          dengan hal tersebut diakui sebagai beban                            recognized as an expense in profit or loss on a
          dalam laba rugi dengan metode garis lurus                           straight-line basis over the lease term.
          selama masa sewa.

          Pada laporan posisi keuangan konsolidasian,                         On the consolidated statement of financial
          aset hak-guna telah dicatat dalam aset tetap                        position, right-of-use assets have been
          dan liabilitas sewa disajikan dalam item                            included in property, plant and equipment and
          terpisah tersendiri.                                                lease liabilities have presented as a separate
                                                                              line item.

     r.   Provisi                                                       r.    Provisions

          Provisi diakui ketika Grup memiliki kewajiban                       Provisions are recognized when the Group has
          kini (baik bersifat hukum maupun bersifat                           a present obligation (legal or constructive) as a
          konstruktif) sebagai akibat peristiwa masa lalu,                    result of a past event, it is probable that the
          kemungkinan       besar     Grup     diharuskan                     Group will be required to settle the obligation,
          menyelesaikan kewajiban dan estimasi yang                           and a reliable estimate can be made of the
          andal mengenai jumlah kewajiban tersebut                            amount of the obligation.
          dapat dibuat.

                                                             40
Page 283
                                                                          The original consolidated financial statements included herein are in
                                                                                                                         Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                     PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                    (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                     AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                        NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                        STATEMENTS
31 Desember 2023 dan 2022                                            December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                  and for the years then ended
pada tanggal tersebut                                                (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


3.   INFORMASI       KEBIJAKAN                AKUNTANSI              3.    MATERIAL      ACCOUNTING                              POLICIES
     MATERIAL (lanjutan)                                                   INFORMATION (continued)

     r.   Provisi (lanjutan)                                               r.    Provisions (continued)

          Jumlah yang diakui sebagai provisi adalah                              The amount recognized as a provision is the
          hasil estimasi terbaik pengeluaran yang                                best estimate of the consideration required to
          diperlukan untuk menyelesaikan kewajiban kini                          settle the present obligation at the end of the
          pada akhir periode pelaporan, dengan                                   reporting period, taking into account the risks
          mempertimbangkan risiko dan ketidakpastian                             and uncertainties surrounding the obligation.
          yang meliputi kewajibannya. Apabila suatu                              Where a provision is using measured the cash
          provisi diukur menggunakan arus kas yang                               flows estimated to settle the present obligation,
          diperkirakan untuk menyelesaikan kewajiban                             its carrying amount is the present value of
          kini, maka nilai tercatatnya adalah nilai kini dari                    those cash flows.
          arus kas.

     s.   Pengakuan Pendapatan dan Beban                                   s.    Revenue and Expense Recognition

          Pendapatan                                                             Revenue

          Pendapatan diukur dengan nilai wajar imbalan                           Revenue is measured at the fair value of the
          yang diterima atau dapat diterima.                                     consideration received or receivable.

          Untuk menentukan apakah akan mengakui                                  To determine whether to recognize revenue,
          pendapatan, Grup mengikuti proses 5 langkah:                           the Group follows a 5-step process:
           Mengidentifikasi     kontrak        dengan                            Identifying the contract with a customer
             pelanggan
           Mengidentifikasi kewajiban pelaksanaan                                Identifying the performance obligations
           Menentukan harga transaksi                                            Determining the transaction price
           Mengalokasikan harga transaksi terhadap                               Allocating the transaction price to the
             kewajiban pelaksanaan                                                 performance obligations
           Mengakui pendapatan ketika (pada saat)                                Recognizing revenue when/as performance
             kewajiban pelaksanaan diselesaikan.                                   obligation(s) are satisfied.

          Pendapatan diakui baik pada suatu waktu                                Revenue is recognized at a point in time when
          tertentu pada saat pengendalian barang telah                           control of the goods have been transferred to
          dialihkan ke pelanggan.                                                customers.

          Pendapatan dari jasa pengolahan diakui pada                            Revenue from handling fee recognized at point
          suatu waktu tertentu ketika layanan dilakukan                          in time when services performed to customers
          kepada pelanggan atau ketika Grup memenuhi                             or when the Group satisfies performance
          kewajiban pelaksanaan dengan mengalihkan                               obligations by transferring the promised goods
          barang yang dijanjikan kepada pelanggannya.                            to its customers.

          Beban                                                                  Expenses

          Beban diakui pada saat terjadinya dengan                               Expenses are recognized as incurred on
          menggunakan dasar akrual.                                              accrual basis.




                                                                41
Page 284
                                                                      The original consolidated financial statements included herein are in
                                                                                                                     Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                 PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                 AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                    STATEMENTS
31 Desember 2023 dan 2022                                        December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                              and for the years then ended
pada tanggal tersebut                                            (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


3.   INFORMASI       KEBIJAKAN             AKUNTANSI             3.    MATERIAL      ACCOUNTING                              POLICIES
     MATERIAL (lanjutan)                                               INFORMATION (continued)

     t.   Imbalan Kerja                                                t.    Employee Benefits

          Grup memberikan imbalan pasca kerja                                The Group provides post-employment benefits
          imbalan pasti untuk karyawan sesuai dengan                         as required under the Group’s Regulation.
          Regulasi Grup.

          Sejalan dengan terbitnya Undang-Undang                             In line with the issuance of the Law Regulation
          No. 6 Tahun 2023 yang mengatur hal-hal yang                        No. 6 Year 2023 which regulates various
          berkaitan dengan ketenagakerjaan antara lain                       matters pertaining to employment, among
          mengenai imbalan pasca kerja, Grup telah                           others, concerning post employment benefits,
          menyesuaikan     imbalan    yang    dihitung                       the Group has adjusted the benefits calculated
          berdasarkan Peraturan tersebut (sebelumnya                         based on the said Regulation (previously
          berdasarkan       Peraturan      Pemerintah                        based on Government Regulation No.
          No. 35/2021).                                                      35/2021).

          Biaya penyediaan imbalan ditentukan dengan                         The cost of providing benefits is determined
          menggunakan metode projected unit credit                           using the projected unit credit method, with
          dengan penilaian aktuaria yang dilakukan                           actuarial valuations being carried out at the
          pada setiap akhir periode pelaporan tahunan.                       end of each annual reporting period.
          Pengukuran kembali, terdiri dari keuntungan                        Remeasurement, comprising actuarial gains
          dan kerugian aktuaria dan perubahan dampak                         and losses and the effect of the changes to the
          batas atas aset (jika ada), yang tercermin                         maximum asset (if applicable), is reflected
          langsung dalam laporan posisi keuangan                             immediately in the consolidated statement of
          konsolidasian     yang    dibebankan    atau                       financial position with a charge or credit
          dikreditkan dalam penghasilan komprehensif                         recognized in other comprehensive income in
          lain periode terjadinya. Pengukuran kembali                        the     period     in    which   they     occur.
          diakui dalam penghasilan komprehensif lain                         Remeasurement         recognized    in     other
          sebagai pos terpisah pada penghasilan                              comprehensive income as a separate item
          komprehensif lain di ekuitas dan tidak akan                        under other comprehensive income in equity
          direklas ke laba rugi. Biaya jasa lalu diakui                      and will not be reclassified to profit or loss.
          dalam laba rugi pada periode amendemen                             Past service cost is recognized in profit or loss
          program.                                                           in the period of a plan amendment.

          Bunga neto dihitung dengan mengalikan                              Net interest is calculated by applying the
          tingkat diskonto pada awal periode imbalan                         discount rate at the beginning of the period to
          pasti dengan liabilitas atau aset imbalan pasti                    the net defined benefit liability or asset.
          neto. Biaya imbalan pasti dikategorikan                            Defined benefit costs are categorized as
          sebagai berikut:                                                   follows:

             Biaya jasa (termasuk biaya jasa kini, biaya                         Service cost (including current service
              jasa lalu serta keuntungan dan kerugian                              cost, past service cost, as well as gains
              kurtailmen dan penyelesaian)                                         and     losses   on    curtailments  and
                                                                                   settlements).
             Beban atau pendapatan bunga neto                                    Net interest expense or income.
             Pengukuran kembali                                                  Remeasurement.

          Liabilitas imbalan pensiun yang diakui pada                        The retirement benefit obligation recognized in
          laporan     posisi  keuangan     konsolidasian                     the consolidated statement of financial position
          merupakan defisit atau surplus aktual dalam                        represents the actual deficit or surplus in the
          program imbalan pasti Grup. Surplus yang                           Group’s defined benefit plans. Any surplus
          dihasilkan dari perhitungan ini terbatas pada                      resulting from this calculation is limited to the
          nilai kini manfaat ekonomis yang tersedia                          present value of any economic benefits
          dalam bentuk pengembalian dana program                             available in the form of refunds from the plans
          dan pengurangan iuran masa depan ke                                or reductions in future contributions to the
          program.                                                           plans.



                                                            42
Page 285
                                                                         The original consolidated financial statements included herein are in
                                                                                                                        Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                    PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                   (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                    AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                       NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                       STATEMENTS
31 Desember 2023 dan 2022                                           December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                 and for the years then ended
pada tanggal tersebut                                               (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


3.   INFORMASI       KEBIJAKAN               AKUNTANSI              3.    MATERIAL      ACCOUNTING                              POLICIES
     MATERIAL (lanjutan)                                                  INFORMATION (continued)

     t.   Imbalan Kerja (lanjutan)                                        t.    Employee Benefits (continued)

          Liabilitas untuk pesangon diakui mana yang                            A liability for a termination benefit is recognized
          terjadi lebih dulu ketika entitas tidak dapat lagi                    at the earlier of when the entity can no longer
          menarik tawaran imbalan tersebut dan ketika                           withdraw the offer of the termination benefit
          entitas mengakui biaya restrukturisasi terkait.                       and when the entity recognizes any related
                                                                                restructuring costs.

     u.   Pajak Penghasilan                                               u.    Income Tax

          Beban pajak yang diakui dalam laporan laba                            Tax expense recognized in profit or loss
          rugi terdiri dari jumlah pajak tangguhan dan                          comprises the sum of deferred tax and current
          pajak kini yang tidak diakui dalam penghasilan                        tax not recognized in other comprehensive
          komprehensif lain atau langsung dalam                                 income or directly in equity.
          ekuitas.

          Perhitungan pajak kini didasarkan pada tarif                          Calculation of current tax is based on tax rates
          pajak dan undang-undang pajak yang berlaku                            and tax laws that have been enacted or
          atau yang secara substansial berlaku pada                             substantively enacted by the end of the
          akhir periode pelaporan. Pajak penghasilan                            reporting period. Deferred income taxes are
          tangguhan dihitung dengan menggunakan                                 calculated using the liability method, on
          metode liabilitas, untuk semua perbedaan                              temporary differences which arise from the
          temporer yang berasal dari selisih antara dasar                       difference between the tax bases of assets
          pengenaan pajak aset dan liabilitas dengan                            and liabilities and their carrying amounts in the
          nilai tercatatnya pada laporan keuangan                               consolidated financial statements. However,
          konsolidasian.    Namun,     liabilitas   pajak                       deferred tax liabilities are not recognized if
          penghasilan tangguhan tidak diakui jika                               they arise from the initial recognition of
          berasal dari pengakuan awal goodwill. Pajak                           goodwill. Deferred income tax is also not
          penghasilan      tangguhan       juga      tidak                      accounted for if it arises from initial recognition
          diperhitungkan     jika  pajak      penghasilan                       of an asset or liability in a transaction other
          tangguhan tersebut timbul dari pengakuan                              than a business combination that at the time of
          awal aset atau pengakuan awal liabilitas dalam                        the transaction affects neither accounting nor
          transaksi yang bukan kombinasi bisnis yang                            taxable profit or loss.
          pada saat transaksi tidak mempengaruhi laba
          akuntansi maupun laba kena pajak/rugi pajak.

          Aset pajak tangguhan diakui sepanjang besar                           Deferred tax assets are recognized to the
          kemungkinan      bahwa     rugi  fiskal atau                          extent that it is probable that the underlying tax
          perbedaan temporer yang dapat dikurangkan                             loss or deductible temporary difference will be
          akan diutilisasi terhadap penghasilan kena                            utilised against future taxable income. This is
          pajak di masa depan. Ini dinilai berdasarkan                          assessed based on the Group’s forecast of
          perkiraan Grup atas hasil operasi di masa                             future operating results, adjusted for significant
          depan, disesuaikan dengan pendapatan dan                              non-taxable income and expenses and specific
          pengeluaran tidak kena pajak yang signifikan                          limits on the use of any unused tax loss or
          dan batas spesifik pada penggunaan kerugian                           credit.
          atau kredit pajak yang belum digunakan.

          Aset dan liabilitas pajak tangguhan diukur                            Deferred tax assets and liabilities are
          dengan menggunakan tarif pajak yang                                   measured at the tax rates that are expected to
          diharapkan berlaku dalam periode ketika                               apply in the period in which the liability is
          liabilitas diselesaikan atau aset dipulihkan                          settled or the asset realized, based on the tax
          berdasarkan tarif pajak (dan peraturan pajak)                         rates (and tax laws) that have been enacted,
          yang telah berlaku atau secara substantif telah                       or substantively enacted, by the end of the
          berlaku pada akhir periode pelaporan.                                 reporting period.



                                                               43
Page 286
                                                                       The original consolidated financial statements included herein are in
                                                                                                                      Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                  PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                 (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                  AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                     STATEMENTS
31 Desember 2023 dan 2022                                         December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                               and for the years then ended
pada tanggal tersebut                                             (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


3.   INFORMASI       KEBIJAKAN              AKUNTANSI             3.    MATERIAL      ACCOUNTING                              POLICIES
     MATERIAL (lanjutan)                                                INFORMATION (continued)

     u.   Pajak Penghasilan (lanjutan)                                  u.    Income Tax (continued)

          Liabilitas pajak tangguhan secara umum diakui                       Deferred tax liabilities are generally recognized
          secara penuh, meskipun PSAK 46, Pajak                               in full, although PSAK 46, Income Taxes,
          Penghasilan, secara spesifik menentukan                             specifies limited exemptions.
          pengecualian terbatas.

          Aset dan liabilitas pajak tangguhan saling                          Deferred tax assets and liabilities are offset
          hapus ketika entitas memiliki hak yang dapat                        when there is legally enforceable right to set
          dipaksakan secara hukum untuk melakukan                             off current tax assets against current tax
          saling hapus aset pajak kini terhadap liabilitas                    liabilities and when they relate to income taxes
          pajak kini dan ketika aset pajak tangguhan dan                      levied by the same taxation authority on either
          liabilitas pajak tangguhan terkait dengan pajak                     the same taxable entity or different taxable
          penghasilan yang dikenakan oleh otoritas                            entities when there is an intention to settle its
          perpajakan yang sama atas entitas kena pajak                        current tax assets and current tax liabilities on
          yang sama atau entitas kena pajak yang                              a net basis, or to realize the assets and settle
          berbeda       yang    memiliki    intensi  untuk                    the liabilities simultaneously, in each future
          memulihkan aset dan liabilitas pajak kini                           period in which significant amounts of deferred
          dengan dasar neto, atau merealisasikan aset                         tax liabilities or assets are expected to be
          dan       menyelesaikan      liabilitas   secara                    settled or recovered.
          bersamaan, pada setiap periode masa depan
          dimana jumlah signifikan atas aset atau
          liabilitas pajak tangguhan diharapkan untuk
          diselesaikan atau dipulihkan.

     v.   Laba per Saham                                                v.    Earnings per Share

          Laba per saham dasar dihitung dengan                                Basic earnings per share is computed by
          membagi laba bersih yang diatribusikan                              dividing net income attributable to the owners
          kepada pemilik entitas induk dengan jumlah                          of the Group by the weighted average number
          rata-rata tertimbang saham yang beredar pada                        of shares outstanding during the year.
          tahun yang bersangkutan.

     w. Informasi Segmen                                                w.    Segment Information

          Segmen operasi diidentifikasi berdasarkan                           Operating segments are identified on the basis
          laporan internal mengenai komponen dari                             of internal reports about components of the
          Grup yang secara regular ditelaah oleh                              Group that are regularly reviewed by the chief
          pengambil keputusan operasional dalam                               operating decision maker in order to allocate
          rangka mengalokasikan sumber daya dan                               resources to the segments and to assess their
          menilai kinerja segmen operasi.                                     performances.

          Segmen operasi adalah suatu komponen dari                           An operating segment is a component of an
          entitas:                                                            entity:




                                                             44
Page 287
                                                                       The original consolidated financial statements included herein are in
                                                                                                                      Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                  PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                 (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                  AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                     STATEMENTS
31 Desember 2023 dan 2022                                         December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                               and for the years then ended
pada tanggal tersebut                                             (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


3.   INFORMASI       KEBIJAKAN               AKUNTANSI            3.    MATERIAL      ACCOUNTING                              POLICIES
     MATERIAL (lanjutan)                                                INFORMATION (continued)

     w. Informasi Segmen (lanjutan)                                     w.    Segment Information (continued)

         a. yang terlibat dalam aktivitas bisnis yang                         a. that engages in business activities from
            mana memperoleh pendapatan dan                                       which it may earn revenue and incur
            menimbulkan beban (termasuk pendapatan                               expenses (including revenue and expenses
            dan beban terkait dengan transaksi dengan                            relating to the transaction with other
            komponen lain dari entitas yang sama);                               components of the same entity);

         b. yang hasil operasinya dikaji ulang secara                         b. whose operating results are reviewed
            regular    oleh   pengambil     keputusan                            regularly by the entity’s chief operating
            operasional untuk membuat keputusan                                  decision maker to make decision about
            tentang sumber daya yang dialokasikan                                resources to be allocated to the segments
            pada segmen tersebut dan menilai                                     and assess its performance; and
            kinerjanya; dan

         c. dimana tersedia informasi keuangan yang                           c. for which discrete financial information is
            dapat dipisahkan.                                                    available.

         Informasi yang digunakan oleh pengambil                              Information reported to the chief operating
         keputusan operasional dalam rangka alokasi                           decision maker for the purpose of resource
         sumber daya dan penilaian kinerja mereka                             allocation and assessment of performance is
         terfokus pada kategori dari setiap produk.                           more specifically focused on the category of
                                                                              each product.


4.   PERTIMBANGAN KRITIS AKUNTANSI                    DAN         4.    CRITICAL ACCOUNTING JUDGMENTS AND
     SUMBER UTAMA KETIDAKPASTIAN                                        KEY SOURCES OF ESTIMATION UNCERTAINTY

     Dalam penerapan kebijakan akuntansi Grup, yang                    In the application of the Group accounting policies,
     dijelaskan dalam Catatan 3, Direksi diwajibkan                    which are described in Note 3, the Directors are
     untuk membuat pertimbangan, estimasi dan                          required to make judgments, estimates and
     asumsi tentang jumlah tercatat aset dan liabilitas                assumptions about the carrying amounts of assets
     yang tidak tersedia dari sumber lain. Estimasi dan                and liabilities that are not readily apparent from
     asumsi terkait didasarkan pada pengalaman                         other sources. The estimates and associated
     historis dan faktor-faktor lain yang dianggap                     assumptions are based on historical experience
     relevan. Hasil aktualnya mungkin berbeda dari                     and other factors that are considered to be
     estimasi tersebut.                                                relevant. Actual results may differ from these
                                                                       estimates.

     Estimasi dan asumsi yang mendasari ditelaah                        The estimates and underlying assumptions are
     secara berkelanjutan. Revisi estimasi akuntansi                    reviewed on an ongoing basis. Revisions to
     diakui dalam periode dimana estimasi tersebut                      accounting estimates are recognized in the period
     direvisi jika revisi hanya mempengaruhi periode                    which the estimate is revised if the revision affects
     tersebut, atau pada periode revisi dan periode                     only that period, or in the period of the revision and
     masa depan jika revisi mempengaruhi periode saat                   future periods if the revision affects both current
     ini dan masa depan.                                                and future periods.

     Pertimbangan    Kritis        dalam       Penerapan                Critical Judgments in Applying Accounting
     Kebijakan Akuntansi                                                Policies

     Berikut ini pertimbangan kritis, selain dari estimasi             The following critical judgments, apart from those
     yang telah diatur, dimana Direksi telah membuat                   involving estimations, that the Directors have made
     suatu proses penerapan kebijakan akuntansi Grup                   in the process of applying the Group accounting
     dan memiliki pengaruh paling signifikan terhadap                  policies and that have the most significant effect on
     jumlah yang diakui dalam laporan keuangan                         the amounts recognized in the consolidated
     konsolidasian.                                                    financial statements.

                                                             45
Page 288
                                                                     The original consolidated financial statements included herein are in
                                                                                                                    Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                               (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                   STATEMENTS
31 Desember 2023 dan 2022                                       December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                             and for the years then ended
pada tanggal tersebut                                           (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


4.   PERTIMBANGAN KRITIS AKUNTANSI DAN                          4.    CRITICAL ACCOUNTING JUDGEMENTS AND
     SUMBER UTAMA KETIDAKPASTIAN (lanjutan)                           KEY SOURCES OF ESTIMATION UNCERTAINTY
                                                                      (continued)

     Pengakuan Aset Pajak Tangguhan                                   Recognition of Deferred Tax Assets

     Sejauh mana aset pajak tangguhan dapat diakui                    The extent to which deferred tax assets can be
     didasarkan pada penilaian terhadap kemungkinan                   recognized is based on an assessment of the
     bahwa penghasilan kena pajak di masa depan                       probability that future taxable income will be
     akan tersedia di mana perbedaan temporer yang                    available against which the deductible temporary
     dapat dikurangkan dan akumulasi rugi pajak dapat                 differences and tax loss carry-forwards can be
     digunakan. Selain itu, diperlukan pertimbangan                   utilised. In addition, significant judgment is required
     yang signifikan dalam menilai dampak dari segala                 in assessing the impact of any legal or economic
     batasan hukum atau ekonomi atau ketidakpastian                   limits or uncertainties in various tax jurisdictions.
     di berbagai yurisdiksi pajak.

     Sumber Utama Ketidakpastian Estimasi                             Key Sources of Estimation Uncertainty

     Informasi tentang estimasi dan asumsi yang                       Information about estimates and assumptions that
     mungkin memiliki pengaruh paling signifikan                      may have the most significant effect on recognition
     terhadap pengakuan dan pengukuran aset,                          and measurement of assets, liabilities, income and
     liabilitas, pendapatan, dan beban disajikan di                   expenses is provided below. Actual results may be
     bawah ini. Hasil aktual mungkin sangat berbeda.                  substantially different.

     Taksiran Masa Manfaat Ekonomis dan Nilai Residu                  Estimated Useful Lives and Residual Value of
     Aset Tetap                                                       Property, Plant and Equipment

     Masa manfaat setiap aset tetap Grup ditentukan                   The useful life of each item of the Group’s property,
     berdasarkan periode kegunaan yang diharapkan                     plant and equipment are estimated based on the
     dari aset tersebut. Estimasi ini ditentukan                      period over which the asset is expected to be
     berdasarkan    evaluasi   teknis    internal dan                 available for use. Such estimation is based on
     pengalaman atas aset sejenis. Masa manfaat                       internal technical evaluation and experience with
     setiap aset ditelaah secara periodik dan                         similar assets. The estimated useful life of each
     disesuaikan apabila prakiraan berbeda dengan                     asset is reviewed periodically and updated if
     estimasi sebelumnya karena keausan, keusangan                    expectations differ from previous estimates due to
     teknis dan komersial, hukum atau keterbatasan                    physical wear and tear, technical or commercial
     lainnya atas pemakaian aset. Namun terdapat                      obsolescence and legal or other limits on the use of
     kemungkinan bahwa hasil operasi dimasa                           the asset. It is possible, however, that future results
     mendatang dapat dipengaruhi secara signifikan                    of operations could be materially affected by
     oleh perubahan atas jumlah serta periode                         changes in the amounts and timing of recorded
     pencatatan beban yang diakibatkan karena                         expenses brought about by changes in the factors
     perubahan faktor yang disebutan di atas.                         mentioned above.

     Perubahan masa manfaat aset tetap dapat                          A change in the estimated useful lives of any item
     mempengaruhi jumlah biaya penyusutan yang                        of property, plant and equipment would affect the
     diakui dan penurunan nilai tercatat aset tersebut.               recorded depreciation expense and decrease in the
                                                                      carrying amounts of these assets.

     Nilai tercatat   aset   tetap   diungkapkan   dalam              The carrying amounts of property, plant and
     Catatan 10.                                                      equipment are disclosed in Note 10.




                                                           46
Page 289
                                                                      The original consolidated financial statements included herein are in
                                                                                                                     Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                 PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                 AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                    STATEMENTS
31 Desember 2023 dan 2022                                        December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                              and for the years then ended
pada tanggal tersebut                                            (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


4.   PERTIMBANGAN KRITIS AKUNTANSI DAN                           4.    CRITICAL ACCOUNTING JUDGEMENTS AND
     SUMBER UTAMA KETIDAKPASTIAN (lanjutan)                            KEY SOURCES OF ESTIMATION UNCERTAINTY
                                                                       (continued)

     Sumber     Utama      Ketidakpastian      Estimasi                Key Sources              of     Estimation         Uncertainty
     (lanjutan)                                                        (continued)

     Penurunan Nilai Goodwill                                          Impairment of Goodwill

     Dalam menilai penurunan nilai, manajemen                          In assessing impairment, management estimates
     memperkirakan jumlah yang dapat diperoleh                         the recoverable amount of each asset or cash
     kembali dari setiap aset atau unit penghasil kas                  generating units based on expected future cash
     berdasarkan perkiraan arus kas masa depan dan                     flows and uses an interest rate to discount them.
     menggunakan         suku      bunga       untuk
     mendiskontokannya.

     Nilai tercatat goodwill diungkapkan di Catatan 11.                The carrying amount of goodwill is disclosed in
                                                                       Note 11.

     Kewajiban Manfaat Pasti                                           Defined Benefit Obligation

     Estimasi kewajiban manfaat pasti manajemen                        Management’s estimate of the defined benefit
     didasarkan pada sejumlah asumsi mendasar                          obligation is based on a number of critical
     seperti tingkat standar inflasi, mortalitas, tingkat              underlying assumptions such as standard rates of
     diskonto, dan antisipasi kenaikan gaji di masa                    inflation, mortality, discount rate and anticipation of
     depan. Variasi dalam asumsi-asumsi ini dapat                      future salary increases. Variation in these
     secara signifikan mempengaruhi jumlah kewajiban                   assumptions may significantly impact the defined
     manfaat pasti dan biaya manfaat pasti tahunan                     benefit obligation amount and the annual defined
     (sebagaimana dianalisis pada Catatan 18).                         benefit expenses (as analysed in Note 18).

     Pengukuran Nilai Wajar                                            Fair value measurement

     Manajemen menggunakan teknik penilaian untuk                      Management uses valuation techniques to
     menentukan nilai wajar instrumen keuangan                         determine the fair value of financial instruments
     (di mana kuotasi pasar aktif tidak tersedia) dan                  (where active market quotes are not available) and
     aset non-keuangan. Ini melibatkan pengembangan                    non-financial assets. This involves developing
     estimasi dan asumsi yang konsisten dengan                         estimates and assumptions consistent with how
     bagaimana para pelaku pasar akan menilai harga                    market participants would price the instrument.
     instrumen. Manajemen mendasarkan asumsinya                        Management bases its assumptions on observable
     pada data yang dapat diamati sejauh mungkin                       data as far as possible but this is not always
     tetapi ini tidak selalu tersedia. Dalam hal ini                   available. In that case management uses the best
     manajemen menggunakan informasi terbaik yang                      information available. Estimated fair values may
     tersedia. Taksiran nilai wajar dapat bervariasi dari              vary from the actual prices that would be achieved
     harga aktual yang akan dicapai dalam transaksi                    in an arm’s length transaction at the reporting date.
     wajar pada tanggal pelaporan.

     Direksi berpendapat bahwa teknik penilaian yang                   The Directors believe that the chosen valuation
     dipilih dan asumsi yang digunakan adalah tepat                    techniques and assumptions used are appropriate
     dalam menentukan nilai wajar dari instrumen                       in determining the fair value of financial
     keuangan.                                                         instruments.




                                                            47
Page 290
                                                                              The original consolidated financial statements included herein are in
                                                                                                                             Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                         PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                        (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                         AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                            NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                            STATEMENTS
31 Desember 2023 dan 2022                                                December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                      and for the years then ended
pada tanggal tersebut                                                    (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


5.   KAS DAN SETARA KAS                                                  5.    CASH AND CASH EQUIVALENTS

                                                      2023                     2022

     Kas                                                                                       Cash on hand
       Rupiah                                             51.048                     58.156      Rupiah
       Dolar AS                                          244.696                     49.296      US Dollar
       Dolar Singapura                                       425                        405      Singapore Dollar
     Bank                                                                                      Cash in banks
       Rupiah                                                                                    Rupiah
         PT Bank UOB Indonesia                         1.525.324                   3.217.122       PT Bank UOB Indonesia
         PT Bank CTBC Indonesia                          506.401                   1.379.659       PT Bank CTBC Indonesia
         PT Bank Negara Indonesia (Persero) Tbk          511.098                     986.129       PT Bank Negara Indonesia (Persero) Tbk
         PT Bank Mega Indonesia Tbk                        9.814                      19.116       PT Bank Mega Indonesia Tbk
         PT Bank Mandiri (Persero) Tbk                        70                         854       PT Bank Mandiri (Persero) Tbk,
         PT Bank DBS Indonesia                               610                         598       PT Bank DBS Indonesia
         PT Bank Central Asia Tbk                             36                          74       PT Bank Central Asia Tbk


          Dolar AS                                                                                US Dollar
            PT Bank Negara Indonesia (Persero) Tbk    28.163.409                50.147.266          PT Bank Negara Indonesia (Persero) Tbk
            PT Bank Mandiri (Persero) Tbk             35.027.927                63.851.605          PT Bank Mandiri (Persero) Tbk
            PT Bank CTBC Indonesia                     2.195.299                 5.775.449          PT Bank CTBC Indonesia
            PT Bank UOB Indonesia                        316.343                   770.350          PT Bank UOB Indonesia
            PT Bank DBS Indonesia                        151.045                   762.970          PT Bank DBS Indonesia
            PT Bank JTrust Indonesia Tbk                     250                         -          PT Bank JTrust Indonesia Tbk

     Deposito berjangka                                                                        Time deposits
       Dolar AS                                                                                  US Dollar
         PT Bank Negara Indonesia Tbk                 10.000.000                         -         PT Bank Negara Indonesia Tbk
         PT Bank Mandiri (Persero) Tbk                10.000.000                         -         PT Bank Mandiri (Persero) Tbk
         PT Bank CTBC Indonesia                        5.000.000                20.500.000         PT Bank CTBC Indonesia
         PT Bank UOB Indonesia                         2.500.000                         -         PT Bank UOB Indonesia
         PT Bank JTrust Indonesia Tbk                  2.000.000                         -         PT Bank JTrust Indonesia Tbk

     Jumlah                                           98.203.795              147.519.049 Total

     Tingkat bunga per tahun                                                                   Interest rate per annum
        Deposito berjangka                           3,75 – 5,50%             0,6% - 4,40%        Time deposits

     Jangka waktu deposito berjangka di atas berkisar                          The above time deposits have terms of 3 months.
     3 bulan.

     Tidak terdapat saldo kas dan setara kas pada                              There is no balance of cash and cash equivalents
     pihak berelasi.                                                           held by related parties.

     Tidak terdapat pembatasan atas penggunaan saldo                           There is no restriction on the use of cash and cash
     kas dan setara kas.                                                       equivalents.


6.   PIUTANG USAHA                                                       6.    TRADE RECEIVABLES

     a.     Berdasarkan pelanggan                                              a      By customers

                                                      2023                     2022

            Pihak berelasi                                                                     Related party
              Genesis Corporation (Catatan 28a)       29.670.720                57.988.096       Genesis Corporation (Note 28a)

            Pihak ketiga                                                                       Third parties
              PT Pertamina Patra Niaga                 7.308.364                   3.526.060     PT Pertamina Patra Niaga
              PT Pertamina EP                            611.185                     298.002     PT Pertamina EP

            Jumlah                                    37.590.269                61.812.158 Total


                                                                    48
Page 291
                                                                          The original consolidated financial statements included herein are in
                                                                                                                         Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                     PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                    (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                     AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                        NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                        STATEMENTS
31 Desember 2023 dan 2022                                            December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                  and for the years then ended
pada tanggal tersebut                                                (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


6.   PIUTANG USAHA (lanjutan)                                        6.    TRADE RECEIVABLES (continued)

     b.   Umur piutang usaha yang belum diturunkan                         b.     Aging of trade receivables that are not
          nilainya                                                                impaired
                                                  2023                     2022

          Belum jatuh tempo                       33.627.881                61.812.158       Not yet due
          Telah jatuh tempo :                                                                Overdue :
           1 - 30 hari                              3.962.388                           -      1 - 30 days

          Jumlah                                  37.590.269                61.812.158       Total


     Jangka waktu rata-rata kredit penjualan barang                        The average credit period on sale of goods is 60
     adalah 60 hari. Tidak ada bunga yang dibebankan                       days. No interest is charged on trade accounts
     pada piutang usaha.                                                   receivable.

     Karena jatuh temponya yang pendek, nilai wajar                        Due to the short-term nature, the fair value of trade
     piutang usaha kurang lebih sama dengan jumlah                         receivables approximates their carrying amount.
     tercatatnya.

     Seluruh transaksi piutang usaha dilakukan dalam                       All of trade receivable transactions are made in US
     mata uang dollar AS.                                                  Dollars.

     Piutang usaha dari Genesis Corporation, atas                          Trade receivable from Genesis Corporation are
     penjualan ammonia oleh PAU pada 31 Desember                           from sales of ammonia by PAU in 2023 and 2022
     2023 dan 2022 (Catatan 28a).                                          (Note 28a).

     Piutang usaha dari PT Pertamina Patra Niaga                           Trade receivable from PT Pertamina Patra Niaga
     merupakan penjualan elpiji oleh Perusahaan                            represents sale of LPG by the Company
     (Catatan 30b).                                                        (Notes 30b).

     Piutang usaha dari PT Pertamina EP merupakan                          Trade receivable from PT Pertamina EP represents
     jasa pengolahan kondensat oleh Perusahaan.                            handling fee of condensate by the Company.

     Semua piutang usaha milik PAU dijadikan sebagai                       PAU’s trade receivable is used as collateral to
     jaminan atas utang bank (Catatan 14).                                 secure the bank loans (Note 14).

     Tidak dibentuk cadangan kerugian penurunan nilai                      No allowance for impairment losses was provided
     karena manajemen berpendapat bahwa semua                              on trade receivable, as management believes that
     piutang usaha akan tertagih.                                          all those receivables are fully collectible.


7.   PERSEDIAAN                                                      7.    INVENTORIES

                                                  2023                     2022

     Persediaan barang jadi (Catatan 24)                                                     Finished good (Note 24)
       Amonia                                      9.553.431                12.987.368          Ammonia
       Elpiji                                         54.747                    98.725          LPG
       Propana                                         8.467                     7.907          Propane
       Kondensat                                      10.276                     4.213          Condensate
     Suku cadang dan perlengkapan pabrik          15.228.468                16.120.187       Factory spareparts and supplies

     Jumlah                                       24.855.389                29.218.400       Total


     Manajemen berpendapat bahwa penyisihan                                Management believes that the allowance for
     penurunan nilai persediaan tidak diperlukan karena                    decline in value of inventories is deemed not
     nilai realisasi bersihnya diatas biaya perolehannya.                  necessary because the net realizable value is
                                                                           above the acquisition cost.



                                                                49
Page 292
                                                                     The original consolidated financial statements included herein are in
                                                                                                                    Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                               (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                   STATEMENTS
31 Desember 2023 dan 2022                                       December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                             and for the years then ended
pada tanggal tersebut                                           (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


7.   PERSEDIAAN (lanjutan)                                      7.    INVENTORIES (continued)

     Semua persediaan milik PAU digunakan sebagai                     PAU’s inventory has been used as collateral to
     jaminan atas utang bank (Catatan 14)                             secure the bank loans (Note 14).

     Biaya persediaan yang diakui sebagai beban dan                   Inventory costs recognized as an expense and
     termasuk dalam beban pokok pendapatan selama                     included in the cost of revenue during 2023 and
     tahun   2023    dan   2022     adalah  sebesar                   2022 are amounting to US$ 144,827,035 and
     US$ 144.827.035 dan US$ 304.900.246 (Catatan                     US$ 304,900,246 (Note 24).
     24).

     Pada tanggal 31 Desember 2023 dan 2022, seluruh                  As of December 31, 2023 and 2022, all inventories
     persediaan telah diasuransikan terhadap segala                   were insured against all risks.
     risiko.

8.   BIAYA DIBAYAR DIMUKA DAN UANG MUKA                         8.    PREPAYMENTS AND ADVANCES

                                              2023                    2022

     Uang muka                                                                           Advances
       Pembelian suku cadang                   1.959.728                2.491.000         Purchase of spareparts
       Lain-lain                                 175.675                  916.949         Others
       Pembelian gas                                   -                5.382.659         Purchase of gas

                                               2.135.403                8.790.608

     Biaya dibayar dimuka                                                                Prepayments
       Asuransi                                3.074.216                4.327.372          Insurance
       Lain-lain                                   6.727                    2.588          Others

     Jumlah                                    5.216.346               13.120.568        Total


     Uang muka pembelian gas PAU sudah terpakai                       Advance purchase of gas have been used in March
     seluruhnya di Maret 2023. Tidak terdapat                         2023. There is no additional down payment in 2023
     penambahan uang muka di tahun 2023 yang                          which will be used to reduce payments.
     digunakan untuk pengurang pembayaran.

9.   INVESTASI PADA OBLIGASI                                    9.    INVESTMENT IN BONDS

     Pada tanggal 21 Maret 2022, Perusahaan                           On March 21, 2022, the Company purchased
     melakukan     pembelian   obligasi   Pemerintah                  bonds of Republic of Indonesia (ORI) through PT
     Indonesia (ORI) melalui PT Bank DBS Indonesia,                   Bank DBS Indonesia, with total value amounting to
     dengan     jumlah  nilai  penyertaan    sebesar                  US$ 10,000,000. This investment is recorded using
     US$ 10.000.000. Investasi ini dicatat dengan                     amortized cost method.
     menggunakan       metode    biaya     perolehan
     diamortisasi.

     Pada tanggal 18 April 2023, Perusahaan telah                     On April 18, 2023, the Company received bond
     menerima pencairan obligasi dari INDON23.                        disbursement from INDON23.

     Obligasi ini diterbitkan dalam beberapa kupon                    These obligations were issued in series as follows:
     sebagai berikut:
                 Seri Obligasi                                                            Tingkat bunga/               Jatuh tempo/
                 Bond Series                   2023                    2022                Interest rate                 Maturity

     INDON23                                               -              3.000.000                   3,375%         15 April/ April 2023
     INDON23                                               -              2.000.000                   3,375%         15 April/ April 2023
                                                                                                                             15 Januari/
     INDON24                                     5.000.000                5.000.000                   5,875%              January 2024

     Jumlah                                      5.000.000               10.000.000                                                  Total

                                                           50
Page 293
                                                                                       The original consolidated financial statements included herein are in
                                                                                                                                      Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                                  PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                                 (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                                  AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                                     NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                                     STATEMENTS
31 Desember 2023 dan 2022                                                         December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                               and for the years then ended
pada tanggal tersebut                                                             (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


9.   INVESTASI PADA OBLIGASI                                                      9.    INVESTMENT IN BONDS

     Pada tanggal 31 Desember 2023, manajemen                                           As of December 31, 2023, management believes
     berpendapat bahwa tidak terdapat situasi atau                                      that there is no event or condition that may indicate
     keadaan yang memberikan indikasi terjadinya                                        impairment of investments in bonds.
     penurunan nilai investasi pada obligasi.


10. ASET TETAP                                                                    10. PROPERTY, PLANT AND EQUIPMENT

                                                                 Kenaikan
                                  1 Januari/                     revaluasi/                                            31 Desember/
                                  January 1,    Penambahan/     Revaluation        Pengurangan/        Reklasifikasi/  December 31,
                                     2023         Additions       Increase          Deductions        Reclassification     2023

     Model revaluasi:                                                                                                                 At revaluation model:
     Pemilikan langsung                                                                                                               Direct acquisitions
       Bangunan                     9.696.646        461.440        170.268                      -          102.172      10.430.526      Building
       Pabrik elpiji, mesin dan                                                                                                          LPG plant, machinery and
            peralatan              28.363.482               -     (3.676.584)                    -           98.479      24.785.377          equipment

     Sub-jumlah                    38.060.128        461.440      (3.506.316)                    -          200.651      35.215.903   Sub-total

     Model biaya perolehan:                                                                                                           At cost model:
     Pemilikan langsung                                                                                                               Direct acquisitions
       Hak atas tanah              16.778.504        586.212                  -                  -         (663.963)     16.700.753      Land rights
       Pabrik amonia, mesin dan                                                                                                          Ammonia plant, machinery
            peralatan             658.680.527        331.932                  -                  -          668.523     659.680.982          and equipment
       Perlengkapan, peralatan                                                                                                           Office furniture, fixtures
            dan perabot kantor      5.599.594        333.343                  -            (51.655)          76.510       5.957.792          and equipment
       Peralatan transportasi       1.869.513        116.309                  -                  -           84.820       2.070.642      Transportation equipment
       Aset tetap dalam proses
            pembangunan               376.286        829.512                  -           (376.286)               -         829.512   Construction in progress

     Aset sewa:                                                                                                                       Lease assets:
       Aset hak-guna                  292.696        121.704                  -                  -                -         414.400      Right-of-use assets

     Sub-jumlah                   683.597.120       2.319.012                 -           (427.941)         165.890     685.654.081   Sub-total

     Jumlah                       721.657.248                                                                           720.869.984   Total

     Akumulasi penyusutan:                                                                                                            Accumulated depreciation:
     Model revaluasi:                                                                                                                 At revaluation model:
     Pemilikan langsung                                                                                                               Direct acquisitions
       Bangunan                     1.900.951        991.997      (2.072.612)                    -          304.026       1.124.362      Building
       Pabrik elpiji, mesin dan                                                                                                          LPG plant, machinery and
            peralatan               7.128.517       3.566.969    (10.695.486)                    -                -               -          equipment

     Sub-jumlah                     9.029.468       4.558.966    (12.768.098)                    -          304.026       1.124.362   Sub-total

     Model biaya perolehan:                                                                                                           At cost model:
     Pemilikan langsung                                                                                                               Direct acquisitions
       Pabrik amonia, mesin dan                                                                                                          Ammonia plant, machinery
            peralatan             179.031.632      41.368.225                                              (548.783)    220.399.684          and equipment
       Perlengkapan, peralatan                                                                                                           Office furniture, fixtures
            dan perabot kantor      4.516.978        530.931                               (51.655)          16.790       5.013.044          and equipment
       Peralatan transportasi       1.275.030        259.799                  -                  -           45.896       1.580.725      Transportation equipment

     Aset sewa:                                                                                                                       Lease assets:
        Aset hak-guna                  76.245         58.300                  -                  -                -         134.545      Right-of-use assets

     Sub-jumlah                   184.899.885      42.217.255                              (51.655)        (486.097)    227.127.998   Sub-total

     Jumlah                       193.929.353      46.776.221    (12.768.098)              (51.655)         366.539     228.252.360   Total

     Nilai Tercatat Bersih        527.727.895                      9.261.782                                            492.617.624   Net Carrying Amount




                                                                       51
Page 294
                                                                               The original consolidated financial statements included herein are in
                                                                                                                              Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                            PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                           (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                            AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                               NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                               STATEMENTS
31 Desember 2023 dan 2022                                                   December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                         and for the years then ended
pada tanggal tersebut                                                       (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


10. ASET TETAP (lanjutan)                                                   10. PROPERTY,                PLANT         AND          EQUIPMENT
                                                                                (continued)

                                 1 Januari/                                                            31 Desember/
                                 January 1,      Penambahan/       Pengurangan/        Reklasifikasi/ December 31,
                                    2022           Additions         Deductions       Reclassification     2022

    Model revaluasi:                                                                                                   At revaluation model:
    Pemilikan langsung                                                                                                 Direct acquisitions
      Bangunan                       9.199.612        420.322                     -           76.712       9.696.646    Building
      Pabrik elpiji, mesin dan                                                                                          LPG plant, machinery and
         peralatan                  28.340.365         23.117                     -                 -     28.363.482       equipment

    Sub-jumlah                      37.539.977        443.439                     -           76.712      38.060.128    Sub-total


    Model biaya perolehan:                                                                                             At cost model:
    Pemilikan langsung                                                                                                 Direct acquisitions
      Hak atas tanah                16.778.504                 -                  -                 -     16.778.504    Land rights
      Pabrik amonia, mesin dan                                                                                          Ammonia plant, machinery
         peralatan                 658.420.882        232.850                     -           26.795     658.680.527       and equipment
      Perlengkapan, peralatan                                                                                           Office furniture, fixtures
         dan perabot kantor          5.368.862        230.732                  -                    -      5.599.594       and equipment
      Peralatan transportasi         1.996.384        148.950           (275.821)                   -      1.869.513    Transportation equipment
      Aset tetap dalam proses
         pembangunan                  544.343         376.286                     -          (544.343)      376.286     Construction in progress

    Aset sewa:                                                                                                         Lease assets:
      Aset hak-guna                  1.098.190        241.157          (1.046.651)                  -       292.696     Right-of-use assets

    Sub-jumlah                     684.207.165       1.229.975         (1.322.472)           (517.548)   683.597.120   Sub-total

    Jumlah                         721.747.142                                                           721.657.248   Total

    Akumulasi penyusutan:                                                                                              Accumulated depreciation:
    Model revaluasi:                                                                                                   At revaluation model:
    Pemilikan langsung                                                                                                 Direct acquisitions
      Bangunan                        937.436         963.515                     -                 -      1.900.951    Building
      Pabrik elpiji, mesin dan                                                                                          LPG plant, machinery and
         peralatan                   3.562.304       3.566.213                    -                 -      7.128.517       equipment

    Sub-jumlah                       4.499.740       4.529.728                    -                 -      9.029.468   Sub-total

    Model biaya perolehan:                                                                                             At cost model:
    Pemilikan langsung                                                                                                 Direct acquisitions
      Pabrik amonia, mesin dan                                                                                          Ammonia plant, machinery
         peralatan                 137.654.060      41.377.572                    -                 -    179.031.632       and equipment
      Perlengkapan, peralatan                                                                                           Office furniture, fixtures
         dan perabot kantor          3.864.038        652.940                  -                    -      4.516.978       and equipment
      Peralatan transportasi         1.251.832        266.344           (243.146)                   -      1.275.030    Transportation equipment

    Aset sewa:                                                                                                         Lease assets:
      Aset hak-guna                   280.563          51.539           (255.857)                   -        76.245     Right-of-use assets

      Sub-jumlah                   143.050.493      42.348.395          (499.003)                   -    184.899.885    Sub-total

    Jumlah                         147.550.233      46.878.123          (499.003)                   -    193.929.353   Total

    Nilai Tercatat Bersih          574.196.909                                                           527.727.895   Net Carrying Amount



    Beban penyusutan dialokasikan sebagai berikut:                                Depreciation expenses are allocated as follow:

                                                       2023                           2022

    Biaya pabrikasi (Catatan 24)                        45.295.411                    45.265.870 Manufacturing expenses (Note 24)
    Beban umum dan administrasi                                                                  General and administrative expenses
      (Catatan 25)                                       1.480.810                     1.612.253   (Note 25)

    Jumlah                                              46.776.221                    46.878.123 Total




                                                                       52
Page 295
                                                                        The original consolidated financial statements included herein are in
                                                                                                                       Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                      PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                     (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                      AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                         NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                         STATEMENTS
31 Desember 2023 dan 2022                                             December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                   and for the years then ended
pada tanggal tersebut                                                 (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


10. ASET TETAP (lanjutan)                                             10. PROPERTY,             PLANT          AND         EQUIPMENT
                                                                          (continued)
    Pada akhir   tahun   2023    dan  2022, PAU                          At the end of 2023 and 2022, PAU decided that
    memutuskan atas aset dalam penyelesaian                              construction in progress would become expenses
    menjadi    beban    masing-masing   sebesar                          amounting       to     US$      376,286   and
    US$ 376.286 dan US$ 440.836.                                         US$ 440,836, respectively.
    Penerimaan dari penjualan aset tetap adalah                          Proceeds from disposal of property, plant and
    sebagai berikut:                                                     equipment are as follows:
                                                  2023                    2022

      Biaya perolehan                                  51.655                258.234        Acquisition cost
      Akumulasi depresiasi                            (51.655)              (228.725)       Accumulated depreciation

      Jumlah tercatat                                        -                 29.509       Net carrying value
      Harga jual                                         1.666               124.553        Selling price

                                                                                            Gain on sales of property, plant and
      Keuntungan atas penjualan aset tetap               1.666                 95.044         equipments

    Termasuk dalam nilai tercatat bersih aset hak-guna                   Included in the net carrying amount of right-of-use
    sebagai berikut:                                                     assets as follows:
                                                  2023                   2022

    Minibus                                          117.557                 156.744 Minibus
    Ruangan kantor                                   114.944                       - Office room
    Tanah                                             47.354                  59.707 Land

    Jumlah aset hak-guna                             279.855                 216.451 Total right-of-use assets

    Pada akhir tahun 2015, Perusahaan mulai                              At the end of 2015, the Company started using
    menggunakan model revaluasi untuk pabrik elpiji,                     revaluation model for the LPG plant, machinery and
    mesin dan peralatan dan bangunan. Peraturan                          equipment and building. The OJK’s regulation No.
    OJK     No.     KEP     347/BL/2012      mewajibkan                  KEP 347/BL/2012 requires a public company who
    Perusahaan Terbuka yang memilih menggunakan                          choose to use the revaluation model to revaluate its
    model revaluasi untuk menilai kembali asetnya                        assets periodically at least once every 3 years. The
    secara berkala minimal 3 tahun sekali. Penilaian                     last revaluation assessment was carried out for the
    revaluasi terakhir kali dilakukan untuk periode                      consolidated financial statement period of 31
    laporan            keuangan            konsolidasian                 December 2020. Thus, the Company has revalued
    31 Desember 2020. Oleh karena itu, Perusahaan                        LPG plant, machinery and equipment and building
    telah melakukan revaluasi atas pabrik elpiji, mesin                  as of December 31, 2023 based on assessment
    dan peralatan dan bangunan untuk periode laporan                     report No. 00154/2.0044-05/PI/04/0234/1/XII/2023
    keuangan             konsolidasian           tanggal                 dated December 29, 2023 from KJPP Amin,
    31 Desember 2023 berdasarkan laporan penilaian                       Nirwan, Alfiantori dan Rekan (independent
    aset No. 00154/2.0044-05/PI/04/0234/1/XII/2023                       appraisers registered with the OJK) for valuation
    tertanggal 29 Desember 2023 dari KJPP Amin,                          date as of September 30, 2023 using fair value
    Nirwan, Alfiantori dan Rekan (penilai independen                     approach. The valuation is determined in
    yang telah teregistrasi di OJK) untuk tanggal efektif                accordance with Indonesian Valuation Standards
    revaluasi (tanggal penilaian) per 30 September                       (SPI), which is based on the latest transaction in
    2023 dengan menggunakan pendekatan nilai                             reasonable terms. The assessment methods used
    wajar. Penilaian dilakukan sesuai dengan Standar                     are market data approach and cost method. The
    Penilaian Indonesia (SPI) yang ditentukan                            difference between the fair value and carrying
    berdasarkan transaksi terkini dalam ketentuan                        amount of the assets was recorded in consolidated
    yang wajar. Metode penilaian yang digunakan                          statement of profit or loss and other comprehensive
    adalah pendekatan data pasar dan biaya. Selisih                      income as “surplus revaluation of property, plant
    antara nilai wajar dengan jumlah tercatat atas aset                  and equipment” amounting US$ 9,261,782 in 2023.
    dibukukan di laporan laba rugi dan penghasilan
    komprehensif lainnya konsolidasian sebagai
    “surplus     revaluasi     aset   tetap”    sebesar
    US$ 9.261.782 pada tahun 2023.

                                                                 53
Page 296
                                                                            The original consolidated financial statements included herein are in
                                                                                                                           Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                          PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                         (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                          AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                             NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                             STATEMENTS
31 Desember 2023 dan 2022                                                 December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                       and for the years then ended
pada tanggal tersebut                                                     (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


10. ASET TETAP (lanjutan)                                                 10. PROPERTY,             PLANT          AND         EQUIPMENT
                                                                              (continued)

    Jika pabrik elpiji, mesin dan peralatan dan                              If the LPG plant, machinery and equipment and
    bangunan dicatat sebesar biaya perolehan, nilai                          building were measured using the cost model, the
    tercatatnya adalah sebagai berikut:                                      carrying amount would be as follow:
                                              2023                                       2022
                            Pabrik elpiji, mesin                      Pabrik elpiji, mesin
                              dan peralatan/                            dan peralatan/
                                LPG plant,                                LPG plant,
                                machinery            Bangunan/            machinery               Bangunan/
                              and equipment           Building          and equipment              Building
    Biaya perolehan                 49.761.115           8.043.248            49.761.115               8.043.248 Cost
    Akumulasi penyusutan            45.191.748           7.221.678            44.735.827               6.889.047 Accumulated depreciation
    Nilai tercatat bersih            4.569.367            821.570               5.025.288              1.154.201 Net carrying amount



    Grup memiliki beberapa bidang tanah yang terletak                        The Group owns several parcels of land located in
    di Palembang, Sumatera Selatan dengan status                             Palembang, South Sumatera with Building Use
    Hak Guna Bangunan (HGB) sampai dengan                                    Rights (Hak Guna Bangunan or HGB) up to
    30 tahun yang berakhir pada tahun 2024 sampai                            30 years expiring in 2024 to 2047 and several
    dengan 2047 dan beberapa bidang tanah di Desa                            parcels of land in Desa Uso, Batui Subdistrict,
    Uso, Kecamatan Batui, Kabupaten Banggai,                                 Banggai Regency, Central Sulawesi with HGB of
    Sulawesi Tengah dengan Hak Guna Bangunan                                 2,073,495 square meters for a period of 25 and 30
    seluas 2.073.495 meter persegi selama 25 dan 30                          years, until 2032, 2033, 2036 and 2043.
    tahun sampai tahun 2032, 2033, 2036 dan 2043.                            Management believes that there will be no difficulty
    Manajemen berpendapat bahwa tidak akan ada                               in the extension of the HGB, since the land rights
    kesulitan dalam perpanjangan HGB karena hak                              were acquired legally and supported by sufficient
    atas tanah diperoleh secara sah dan didukung                             evidence of ownership.
    dengan bukti kepemilikan yang memadai.

    Aset tetap pemilikan langsung tertentu dengan nilai                      Certain direct acquired items of property, plant and
    tercatat keseluruhan sebesar US$ 459.681.099                             equipment with total amount of US$ 459,681,099
    digunakan sebagai jaminan atas pinjaman bank                             are used as collateral for bank loan (Note 14).
    (Catatan 14).

    Pada tanggal 31 Desember 2023 dan 2022, aset                             As of December 31, 2023 and 2022, the Group’s
    tetap Grup kecuali hak atas tanah telah                                  property, plant and equipment except land rights
    diasuransikan kepada PT Asuransi Candi Utama,                            were insured with PT Asuransi Candi Utama,
    PT Asuransi Multi Artha Guna Tbk dan PT Asuransi                         PT Asuransi Multi Artha Guna Tbk and PT Asuransi
    Wahana Tata dan lainnya terhadap risiko gempa                            Wahana Tata and others against earthquake, fire,
    bumi, kebakaran, pencurian, kerusakan mesin dan                          theft, machinery breakdown and other risks for
    risiko lainnya dengan jumlah pertanggungan                               US$     706,410,000     and   US$    586,303,318
    masing-masing sebesar US$ 706.410.000 dan                                respectively. Further the Group has taken
    US$ 586.303.318. Selanjutnya Grup telah                                  insurance cover of Business Interruption for
    mengasuransikan terhadap gangguan bisnis                                 US$     390,387,551     and   US$    585,643,000
    masing-masing sebesar US$ 390.387.551 dan                                respectively and which covers an indemnity period
    US$ 585.643.000 dan yang mencakup jangka                                 of 12 months for LPG Business and 18 Months for
    waktu ganti rugi selama 12 bulan untuk bisnis LPG                        Ammonia Business. Management believes that the
    dan 18 bulan untuk bisnis amonia. Manajemen                              insurance coverage is adequate to cover possible
    berpendapat bahwa nilai pertanggungan tersebut                           losses on the assets insured.
    cukup untuk menutupi kemungkinan kerugian atas
    aset yang dipertanggungkan.




                                                                     54
Page 297
                                                                   The original consolidated financial statements included herein are in
                                                                                                                  Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                 PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                 AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                    STATEMENTS
31 Desember 2023 dan 2022                                        December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                              and for the years then ended
pada tanggal tersebut                                            (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


10. ASET TETAP (lanjutan)                                        10. PROPERTY,             PLANT          AND         EQUIPMENT
                                                                     (continued)

    Berdasarkan penelaahan terhadap masing-masing                   Based on evaluation on each asset at the end of
    akun aset pada akhir tahun, manajemen Grup                      year, the Group’s management believes that there
    berkeyakinan bahwa tidak terdapat indikasi                      is no indication of any impairment of these assets
    penurunan nilai atas aset pada tanggal                          as of December 31, 2023 and 2022.
    31 Desember 2023 dan 2022.

    Manajemen berkeyakinan nilai wajar aset yang                    Management believes that the fair value of the
    direvaluasi tidak berbeda secara material dengan                revalued assets is not materially different from the
    nilai tercatat aset tetap yang direvaluasi pada akhir           revalued carrying amount of the assets at the end
    periode pelaporan 31 Desember 2023 dan 2022.                    of the reporting period of December 31, 2023 and
                                                                    2022.


11. GOODWILL                                                     11. GOODWILL

    Goodwill atas akuisisi ECI dan PAU pada tanggal                 Goodwill on the acquisition of ECI and PAU as of
    31 Desember 2023 dan 2022 masing-masing                         December 31, 2023 and 2022 amounting
    sebesar US$ 23.687.119. Manajemen Grup                          US$ 23,687,119, respectively. The Group’s
    berpendapat bahwa tidak ada kejadian atau                       management was of the opinion that there were no
    perubahan     keadaan     yang   dimana   akan                  events or changes in circumstances which would
    mengindikasikan penurunan nilai pada saldo                      indicate impairment in the balance of goodwill.
    goodwill.


12. DERIVATIF KEUANGAN                                           12. FINANCIAL DERIVATIVES

    PAU menggunakan instrumen derivatif terkait suku                PAU      uses     interest-rate-related   derivative
    bunga untuk mengelola eksposur terkait perubahan                instruments to manage its exposure related to
    suku bunga di instrumen pinjaman suku bunga                     changes in interest rates on its variable-rate debt
    variabel. PAU tidak memiliki instrumen derivatif                instruments. PAU does not have derivative
    selain untuk tujuan lindung nilai arus kas. PAU                 instruments for any purpose other than cash flow
    tidak    melakukan       spekulasi menggunakan                  hedging. PAU does not speculate using these
    instrumen derivatif ini.                                        derivative instruments.

    Dengan menggunakan instrumen keuangan                           By using derivative financial instruments to hedge
    derivatif untuk melindungi nilai eksposur atas                  exposures to change in interest rates, PAU
    perubahan suku bunga, PAU mengekspos dirinya                    exposes itself to credit risk and market risk.
    terhadap risiko kredit dan risiko pasar.

    Risiko kredit adalah kegagalan atas pihak lawan                 Credit risk is the failure of the counterparty to
    untuk melaksanakan syarat atas kontrak derivatif.               perform under the terms of the derivative contract.
    Ketika nilai wajar atas kontrak derivatif adalah                When the fair value of a derivative contract is
    positif, pihak lawan berhutang kepada PAU,                      positive, the counterparty owes PAU, which creates
    dimana menyebabkan risiko kredit untuk PAU.                     credit risk for PAU. When the fair value of a
    Ketika nilai wajar atas kontrak derivatif adalah                derivative contract is negative, PAU owes the
    negatif, PAU berhutang kepada pihak lawan dan,                  counterparty and, therefore, it does not possess
    oleh karena itu, tidak terdapat risiko kredit. PAU              credit risk. PAU minimizes the credit risk in
    meminimalkan risiko kredit dalam instrumen                      derivative instruments by entering into transactions
    derivatif dengan mengikutsertakan transaksi                     with creditworthy counterparties whose credit
    dengan pihak lawan yang kualitas kreditnya                      quality is reviewed regularly. The derivative
    ditelaah secara teratur. Instrumen keuangan yang                instruments entered into by PAU do not contain
    diikutsertakan oleh PAU tidak memiliki sifat                    credit-risk-related contingent features.
    kontijensi terkait risiko kredit.




                                                            55
Page 298
                                                               The original consolidated financial statements included herein are in
                                                                                                              Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                             PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                            (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                             AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                STATEMENTS
31 Desember 2023 dan 2022                                    December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                          and for the years then ended
pada tanggal tersebut                                        (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


12. DERIVATIF KEUANGAN (lanjutan)                            12. FINANCIAL DERIVATIVES (continued)

    Risiko pasar adalah dampak yang berlawanan                  Market risk is the adverse effect on the value of a
    dalam nilai instrumen keuangan yang dihasilkan              financial instrument that results from a change in
    dari perubahan suku bunga. Risiko pasar dikaitkan           interest rates. The market risk associated with
    dengan kontrak suku bunga yang dikelola dengan              interest-rate contracts is managed by establishing
    menetapkan dan memantau parameter yang                      and monitoring parameters that limit the types and
    membatasi jenis dan tingkat risiko pasar yang               degree of market risk that may be undertaken.
    mungkin dilakukan.

    PAU menilai risiko suku bunga dengan                        PAU assesses interest rate risk by continually
    mengidentifikasi  dan    memantau     perubahan             identifying and monitoring changes in interest rate
    eksposur suku bunga secara berkelanjutan yang               exposures that may adversely impact expected
    berlawanan terhadap dampak arus kas masa                    future cash flows and by evaluating hedging
    depan yang diharapkan dan mengevaluasi                      opportunities. PAU maintains risk management
    kesempatan lindung nilai. PAU mempertahankan                control systems to monitor interest rate risk
    sistem pengendalian manajemen risiko untuk                  attributable to both the PAU's outstanding debt
    memantau risiko suku bunga yang timbul dari                 obligations as well as the PAU's offsetting hedge
    kewajiban utang PAU dan posisi lindung nilai yang           positions. The risk management control systems
    saling hapus. Sistem pengendalian manajemen                 involve the use of analytical techniques, including
    risiko melibatkan penggunaan teknik analisis,               cash flow sensitivity analysis, to estimate the
    termasuk analisis sensitivitas arus kas, untuk              expected impact of changes in interest rates on the
    memperkirakan dampak yang diharapkan atas                   PAU's future cash flows.
    perubahan suku bunga atas arus kas masa depan
    PAU.

    PAU menggunakan bunga variabel London                       PAU uses the variable-rate London Interbank
    Interbank Offered Rate ("LIBOR") untuk bagian               Offered Rate ("LIBOR") for a portion of its debt to
    pinjaman (Catatan 14), yang kemudian ditransisi             finance its operations (Note 14), in which then
    menggunakan Secured Overnight Funding Rate                  transitioned to Secured Overnight Funding Rate
    (“SOFR”) pada 2023. Kewajiban utang memberikan              (“SOFR”) in 2023. The debt obligations expose
    eksposur kepada PAU atas variabilitas dalam                 PAU to variability in interest payments due to
    pembayaran bunga karena perubahan suku bunga.               changes in interest rates.

    Manajemen yakin kehati-hatiannya membatasi                  Management believes that it is prudent to limit the
    variabilitas atas bagian pembayaran bunganya.               variability of a portion of its interest payments. To
    Untuk      mencapai    tujuan  ini,   manajemen             meet this objective, management enters into
    mengadakan perjanjian terkait LIBOR/SOFR                    LIBOR/SOFR based interest rate swap agreements
    berdasarkan interest swap untuk mengelola                   to manage fluctuations in cash flows resulting from
    perubahan atas hasil arus kas dari perubahan                changes in the benchmark interest rate of LIBOR.
    dalam tolak ukur suku bunga LIBOR. Swap ini                 These swaps change the variable-rate cash flow
    mengubah eksposur arus kas bunga variabel atas              exposure on the debt obligations to fixed cash
    kewajiban utang terhadap arus kas tetap.                    flows.

    PAU menandatangani perjanjian lindung nilai                 PAU entered into a hedging agreement with
    dengan PT Bank Negara Indonesia (Persero) Tbk               PT Bank Negara Indonesia (Persero) Tbk dated
    pada tanggal 7 Oktober 2021 dan dengan                      October 7, 2021 and with PT Bank Mandiri
    PT Bank Mandiri (Persero) Tbk pada tanggal                  (Persero) Tbk dated October 8, 2021. Under the
    8 Oktober 2021. Dalam perjanjian tersebut PAU               agreement, PAU will receive or pay interest on the
    akan menerima atau membayar bunga atas                      difference in the notional amount based on linear
    perbedaan     jumlah      nosional   berdasarkan            interpolation and with a fixed rate of 0.6515%. The
    perhitungan interpolasi linier dan dengan tingkat           agreed term is until June 25, 2025. Payments are
    suku bunga tetap sebesar 0,6515%. Jangka waktu              made every March 25, June 25, September 25 and
    yang disepakati adalah sampai dengan 25 Juni                December 25. The notional amount varies with the
    2025. Pembayaran dilakukan setiap tanggal                   calculation period.
    25 Maret, 25 Juni, 25 September dan 25
    Desember. Jumlah nosional bervariasi atas
    perhitungan periode.


                                                        56
Page 299
                                                                        The original consolidated financial statements included herein are in
                                                                                                                       Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                     PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                    (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                     AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                        NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                        STATEMENTS
31 Desember 2023 dan 2022                                            December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                  and for the years then ended
pada tanggal tersebut                                                (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


12. DERIVATIF KEUANGAN (lanjutan)                                    12. FINANCIAL DERIVATIVES (continued)

    Amandemen transisi dari LIBOR menjadi SOFR                            An amendment for transition from LIBOR to SOFR
    ditandatangani dengan PT Bank Negara Indonesia                        was signed with PT Bank Negara Indonesia
    (Persero) Tbk tanggal 21 Juni 2023 dan PT Bank                        (Persero) Tbk on June 21, 2023 and with PT Bank
    Mandiri (Persero) Tbk pada tanggal 5 Juni 2023                        Mandiri (Persero) Tbk on June 5, 2023 wherein
    dimana PAU akan menerima USD Fallback 3-bulan                         PAU will receive USD Fallback rate 3-month SOFR
    SOFR ditambah credit adjustment spread (CAS)                          in arrears plus credit adjustment spread (CAS) of
    sebesar 0,26161%.                                                     0.26161%.

    Perubahan nilai wajar atas swap suku bunga dibuat                     Changes in the fair value of interest rate swaps
    sebagai instrumen lindung nilai yang saling hapus                     designated as hedging instruments that effectively
    atas variabilitas arus kas yang terkait dengan                        offset the variability of cash flows associated with
    bunga variabel secara efektif, kewajiban utang                        variable-rate, long-term debt obligations are
    jangka panjang dilaporkan dalam akumulasi                             reported in accumulated other comprehensive
    penghasilan komprehensif lain. Jumlah ini                             income. These amounts subsequently reclassified
    selanjutnya diklasifikasikan sebagai biaya bunga                      into interest expense as a yield adjustment of the
    sebagai hasil penyesuaian atas pembayaran bunga                       hedged interest payments in the same period in
    lindung nilai dalam periode yang sama dimana                          which the related interest affects earnings.
    terkait dengan pendapatan dampak atas bunga.

    Tabel berikut menjelaskan derivatif pada tanggal                      The following table represents the derivatives in
    31 Desember 2023 dan 2022 dan dampak atas                             place as of December 31, 2023 and 2022 and the
    instrumen keuangan dalam laporan laba rugi dan                        effect of derivatives instruments on the
    penghasilan komprehensif lain konsolidasian tahun                     consolidated statement of profit or loss and other
    2023 dan 2022:                                                        comprehensive income for 2023 and 2022:

                                                        31 December/                   31 Desember/
                          Derivatif di PSAK 71        December 31, 2023              December 31, 2022
                           hubungan lindung
                             nilai arus kas/      Porsi yang     Porsi yang       Porsi yang      Porsi yang
                         Derivatives in PSAK 71     efektif/    tidak efektif/      efektif/     tidak efektif/
                           cash flow hedging       Effective     Ineffective       Effective      Ineffective
                              relationships         portion        portion          portion         portion

    PT Bank Mandiri   Swap tingkat suku bunga /     3.171.186                -      8.712.593                  -      PT Bank Mandiri
      (Persero) Tbk   Interest rate swap                                                                                (Persero) Tbk
    PT Bank Negara    Swap tingkat suku bunga /     1.857.002                -      5.092.191                     -   PT Bank Negara Indonesia
      Indonesia       Interest rate swap                                                                                (Persero) Tbk
      (Persero) Tbk

    Jumlah                                          5.028.188                -     13.804.784                     -   Total



    Bagian efektif dari perubahan nilai wajar derivatif                   The effective portion of changes in the fair value of
    tersebut diakui sebagai penghasilan komprehensif                      such     derivative   is   recognized      in   other
    lain, dan tidak terdapat bagian yang tidak efektif                    comprehensive income, and there is no ineffective
    yang diakui pada laba rugi untuk tahun yang                           portion that are recognized in profit or loss for the
    berakhir tanggal 31 Desember 2023 dan 2022.                           year ended December 31, 2023 and 2022.




                                                                57
Page 300
                                                                       The original consolidated financial statements included herein are in
                                                                                                                      Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                     PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                    (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                     AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                        NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                        STATEMENTS
31 Desember 2023 dan 2022                                            December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                  and for the years then ended
pada tanggal tersebut                                                (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


13. UTANG USAHA                                                      13. TRADE PAYABLES

    a. Berdasarkan Pemasok                                              a. Based on Supplier
                                                  2023                  2022

        Pihak ketiga                                                                    Third parties
          Pertamina JOB                           10.478.016             20.475.012       Pertamina JOB
          Emerson Asia Pacific                                                            Emerson Asia Pacific
            Private Limited                          129.251                      -          Private Limited
          PT IBM Indonesia                           115.723                      -       PT IBM Indonesia
          PT. Siemens Indonesia                       79.203                      -       PT. Siemens Indonesia
          PT. Baasithu Boga Services                  73.956                      -       PT. Baasithu Boga Services
          PT. Wisata Kawan Abadi                      60.987                      -       PT. Wisata Kawan Abadi
          PT Banggai Sentral Sulawesi                 59.077                      -       PT Banggai Sentral Sulawesi
          PT Pertamina EP                                  -              1.138.628       PT Pertamina EP
          Lain-lain (dibawah US$ 50.000)             945.545              1.751.841       Others (below US$ 50,000)

        Jumlah                                    11.941.758             23.365.481 Total


    b. Berdasarkan Mata Uang                                            b. Based on Currencies
                                                  2023                  2022

        Dolar AS                                  11.746.410             22.309.684     US Dollar
        Rupiah                                       195.310              1.024.739     Indonesian Rupiah
        Euro                                              38                 31.022     Euro
        Pound Britania Raya                                -                     36     British Pound Sterling

        Jumlah                                    11.941.758             23.365.481 Total


    Pembelian bahan baku tidak langsung dan jasa,                       Purchases of indirect materials and services, both
    baik dari pemasok dalam negeri maupun luar                          from local and foreign suppliers, have credit terms
    negeri, mempunyai jangka waktu kredit berkisar                      of 30 to 60 days.
    30 sampai dengan 60 hari.

    Karena sifatnya yang jangka pendek, nilai wajar                     Due to their short-term nature, their carrying
    utang usaha diperkirakan sama dengan nilai                          amount approximates their fair value.
    tercatatnya.


14. UTANG BANK                                                       14. BANK LOANS

                                                  2023                  2022

    Utang bank jangka panjang :                                                      Long term bank loan :
    Fasilitas kredit investasi                                                       Investment credit facility
       Fasilitas Term Loan                       165.769.239            276.849.239     Term Loan facility
       Biaya transaksi yang belum diamortisasi    (5.098.629)            (8.515.160)    Unamortized transaction costs
       Bunga masih harus dibayar                     182.993                400.068     Accrued interest

    Jumlah fasilitas kredit investasi             160.853.603           268.734.147 Total investment credit facility
    Jatuh tempo dalam satu tahun                 (105.914.993)          (91.480.068) Current maturity

    Utang bank setelah dikurangi bagian
       yang jatuh tempo dalam satu tahun          54.938.610            177.254.079      Bank loan net of current maturity

    Utang bank jangka pendek :                                                      Short-term bank loan :
    Fasilitas kredit modal kerja                            -             1.000.000 Working capital facility

    Jumlah utang bank jangka pendek                         -             1.000.000 Total short-term bank loan




                                                                58
Page 301
                                                                 The original consolidated financial statements included herein are in
                                                                                                                Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                               PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                              (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                               AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                  NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                  STATEMENTS
31 Desember 2023 dan 2022                                      December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                            and for the years then ended
pada tanggal tersebut                                          (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


14. UTANG BANK (lanjutan)                                      14. BANK LOANS (continued)

    a.   Fasilitas Kredit Investasi                               a.    Investment Credit Facility

         Pada tanggal 25 Maret 2021, PAU                                On March 25, 2021, PAU signed a Term Loan
         menandatangani Perjanjian Fasilitas Term                       Facility     Agreement          amounting      to
         Loan sebesar US$ 495.000.000 dengan                            US$ 495,000,000 with syndicate of banks
         sindikasi bank yang terdiri dari PT Bank                       comprising of PT Bank Mandiri (Persero) Tbk
         Mandiri (Persero) Tbk dan PT Bank Negara                       and PT Bank Negara Indonesia (Persero) Tbk
         Indonesia (Persero) Tbk untuk melunasi                         to repay all its existing debts. The maturity
         seluruh utang. Fasilitas pinjaman ini jatuh                    date of these loan facilities is on December 25,
         tempo pada tanggal 25 Desember 2027.                           2027. The rate of interest for the loan shall be
         Tingkat bunga pinjaman adalah agregat dari                     aggregate of fixed margin plus prevailing
         marjin tetap dan 3-bulan LIBOR yang berlaku.                   3-month LIBOR. On July 28, 2023, PAU
         Pada      tanggal    28    Juli 2023,    PAU                   signed an amendment to the facility agreement
         menandatangani        amandemen     perjanjian                 to 3-month SOFR plus credit adjustment
         fasilitas menjadi 3-bulan SOFR ditambah credit                 spread (CAS) of 0.075% plus margin of 4.50%
         adjustment spread (CAS) 0,075% ditambah                        which will effective from August 1, 2023.
         margin sebesar 4,50% yang berlaku sejak                        Principal repayment and interest payment for
         1 Agustus 2023. Pembayaran cicilan pokok                       the loan shall occur on every March 25, June
         dan bunga dilakukan setiap tanggal 25 Maret,                   25, September 25 and December 25 starting
         25 Juni, 25 September dan 25 Desember                          from June 2021.
         mulai dari Juni 2021.

         Biaya transaksi sehubungan dengan utang                        Transaction costs in relation to the bank loans
         bank diamortisasi selama masa pinjaman.                        amortized over the period of bank loan. As of
         PAU telah menggunakan seluruh fasilitas                        March 31, 2021, PAU has fully utilized the
         pinjaman pada 31 Maret 2021.                                   facility of the loan.

         Perjanjian atas pinjaman dari PT Bank Mandiri                  The loan agreement of PT Bank Mandiri
         (Persero) Tbk dan PT Bank Negara Indonesia                     (Persero) Tbk and PT Bank Negara Indonesia
         (Persero) Tbk mensyaratkan PAU untuk                           (Persero) Tbk requires PAU to maintain
         mempertahankan rasio keuangan sebagai                          financial ratios as follows:
         berikut:

         a.   Rasio lancar minimum 1,2.                                 a.    Current ratio of at least 1.2.
         b.   Gearing ratio maksimum 3 sebelum                          b.    Gearing ratio not more than 3 before
              31 Desember 2023 dan setelah tanggal                            December 31, 2023, and on December 31,
              31 Desember 2023 maksimum 1,75.                                 2023 and thereafter, not more than 1.75.
         c.   Rasio current debt service coverage                       c.    Current debt service coverage ratio at
              minimum 1,2.                                                    least 1.2.

         Pada tanggal 31 Desember 2023, PAU telah                       As of December 31, 2023, PAU has complied
         memenuhi seluruh persyaratan pinjaman.                         with the entire loan covenant.

         Fasilitas pinjaman ini dijamin dengan aset                     The Loan Facility are secured by the PAU’s
         PAU, antara lain:                                              assets, among others:

             beberapa sertifikat tanah (Catatan 10);                        certain land certificates (Note 10);
             bangunan, mesin dan peralatan milik                            fiduciary transfer of ownership of all the
              perusahaan dengan penyerahan secara                             Company's building, machinery and
              fidusia (Catatan 10);                                           equipment (Note 10);
             piutang usaha dan persediaan dengan                            fiduciary transfer of trade receivable and
              penyerahan secara fidusia (Catatan 6 dan                        inventory (Notes 6 and 7); and
              7); dan
             klaim asuransi dengan penyerahan secara                        fiduciary transfer of insurance claim.
              fidusia.


                                                          59
Page 302
                                                                  The original consolidated financial statements included herein are in
                                                                                                                 Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                               (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                   STATEMENTS
31 Desember 2023 dan 2022                                       December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                             and for the years then ended
pada tanggal tersebut                                           (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


14. UTANG BANK (lanjutan)                                       14. BANK LOANS (continued)

    a.   Fasilitas Kredit Investasi (lanjutan)                     a.    Investment Credit Facility (continued)
         Pada    27     April  2021,      Perusahaan                     On April 27, 2021, the Company signed a
         menandatangani Perjanjian Fasilitas Kredit                      Working Capital Credit Facility Agreement with
         Modal Kerja dengan PT Bank CTBC Indonesia                       PT Bank CTBC Indonesia to obtain facility up
         untuk    memperoleh     fasilitas     hingga                    to US$ 6,500,000 comprising of Account
         US$ 6.500.000 yang terdiri dari fasilitas                       Payable Financing (APF), Omnibus (SBLC)
         Account Payable Financing (APF), fasilitas                      facility and FX Line.
         Omnibus (SBLC) dan FX Line.

         Fasilitas ini telah ditingkatkan berdasarkan                    This facility increased based on agreement
         perjanjian tanggal 23 Juni 2022 menjadi                         dated June 23, 2022 to US$ 8,000,000 and is
         US$ 8.000.000 dan berlaku sampai dengan                         valid up to April 27, 2024 which will be
         27 April 2024 yang akan ditinjau setiap tahun.                  reviewed every year.

         Perjanjian atas pinjaman dari PT Bank CTBC                      The loan agreement of PT Bank CTBC
         Indonesia mensyaratkan Perusahaan untuk                         Indonesia requires the Company to maintain
         mempertahankan rasio keuangan sebagai                           financial ratios as follows:
         berikut:
         a. Rasio lancar minimum 1,1.                                    a.    Current ratio of at least 1.1.
         b. Rasio current debt service coverage                          b.    Current debt service coverage ratio at
              minimum 1.                                                       least 1.

         Pada tanggal 31 Desember 2023, Perusahaan                       As of December 31, 2023, the Company has
         telah memenuhi seluruh persyaratan pinjaman.                    complied with all the conditions of the loan.

    b.   Fasilitas Kredit Modal Kerja                              b.    Working Capital Credit Facility

         Pada tanggal 26 Maret 2021, PAU                                 On March 26, 2021, PAU signed a Working
         menandatangani perjanjian Fasilitas Kredit                      Capital Credit agreement with PT Bank
         Modal Kerja dengan PT Bank Negara                               Negara Indonesia (Persero) Tbk to obtain
         Indonesia (Persero) Tbk untuk memperoleh                        working capital loan of US$ 30,000,000. The
         pinjaman       modal        kerja      sebesar                  facility is valid for 1 year until March 25, 2022
         US$ 30.000.000. Fasilitas ini berlaku selama 1                  and reviewed every year. The interest rate
         tahun hingga 25 Maret 2022 dan ditinjau setiap                  under this facility is SOFR plus fixed margin of
         tahun. Suku bunga fasilitas ini adalah SOFR                     3.5% per annum. As of July 7, 2022, PAU has
         plus margin tetap 3,5% per tahun. Pada                          fully paid the loan.
         tanggal 7 Juli 2022, PAU telah melunasi
         seluruh pinjaman.
         Pada     tanggal   22   Juli   2022,    PAU                     On July 22, 2022, PAU signed a Working
         menandatangani perjanjian Fasilitas Kredit                      Capital Credit Agreement with PT Bank
         Modal kerja dengan PT Bank Mandiri (Persero)                    Mandiri (Persero) Tbk to obtain working capital
         Tbk untuk memperoleh pinjaman modal kerja                       loan of US$ 30,000,000. This facility is valid for
         sebesar US$ 30.000.000. Fasilitas ini berlaku                   1 year and will be reviewed every year, but the
         selama 1 tahun dan ditinjau setiap tahun,                       facility has not been used until December 31,
         namun fasilitas tersebut belum digunakan                        2022.
         hingga tanggal 31 Desember 2022.

         Pada tanggal 26 Maret 2023, PAU                                 On March 26 2023, PAU signed a Working
         menandatangani perjanjian Fasilitas Kredit                      Capital Credit Facility agreement with PT Bank
         Modal Kerja dengan PT Bank Negara                               Negara Indonesia (Persero) Tbk to obtain a
         Indonesia (Persero) Tbk untuk memperoleh                        working capital loan of US$ 30,000,000. This
         pinjaman      modal        kerja        sebesar                 facility is valid for 1 year until March 25, 2024
         US$ 30.000.000. Fasilitas ini telah digunakan                   and is reviewed annually. This facility was
         pada 30 Maret 2023 dan dilunasi pada                            used on March 30, 2023 and already paid off
         3 April 2023, sehingga tidak ada saldo                          on April 3, 2023, so there is no outstanding
         pinjaman yang terhutang atas fasilitas ini.                     balance for this facility.
                                                           60
Page 303
                                                                   The original consolidated financial statements included herein are in
                                                                                                                  Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                 PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                 AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                    STATEMENTS
31 Desember 2023 dan 2022                                        December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                              and for the years then ended
pada tanggal tersebut                                            (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


14. UTANG BANK (lanjutan)                                        14. BANK LOANS (continued)

    b.   Fasilitas Kredit Modal Kerja (lanjutan)                    b.    Working Capital Credit Facility (continued)

         Pada tanggal 1 Januari 2023, PAU                                 On January 1 2023, PAU signed a working
         menandatangani perjanjian Fasilitas Kredit                       capital credit facility agreement with PT Bank
         Modal kerja dengan PT Bank Mandiri (Persero)                     Mandiri (Persero) Tbk to obtain a working
         Tbk untuk memperoleh pinjaman modal kerja                        capital loan of US$ 30,000,000. This facility is
         sebesar US$ 30.000.000. . Fasilitas ini berlaku                  valid for 1 year until January 1, 2024 and is
         selama 1 tahun hingga 1 Januari 2024 dan                         reviewed annually. As of December 31, 2023,
         ditinjau setiap tahun. Sampai dengan tanggal                     this facility has not been used by PAU, so
         31 Desember 2023 fasilitas ini belum                             there is no outstanding balance for this facility.
         digunakan PAU sehingga tidak ada saldo
         pinjaman terhutang atas fasilitas ini.

         Fasilitas modal kerja di atas dari PT Bank                       The above working capital facilities from
         Negara Indonesia (Persero) Tbk and PT Bank                       PT Bank Negara Indonesia (Persero) Tbk and
         Mandiri (Persero) Tbk dijamin dengan aset                        PT Bank Mandiri (Persero) Tbk are secured by
         PAU secara pari-passu bersama Term Loan.                         PAU’s assets on pari-passu sharing with Term
                                                                          Loan.

         Suku bunga fasilitas ini adalah SOFR plus                        The interest rate under this facility is SOFR
         margin tetap 3,5% per tahun.                                     plus fixed margin of 3.5% per annum.

    c.   Standby Letter of Credit (SBLC)                            c.    Standby Letter of Credit (SBLC)

         Pada tanggal 26 Maret 2021, PAU                                  On March 26, 2021, PAU signed a Standby
         menandatangani Perjanjian Kredit Modal Kerja                     Letter   of     Credit  Agreement          with
         dengan PT Bank Negara Indonesia (Persero)                        PT Bank Negara Indonesia (Persero) Tbk to
         Tbk untuk memperoleh fasilitas SBLC dan                          obtain SBLC and Treasury facility with plafond
         Treasury     dengan        plafon        sebesar                 of US$ 30,000,000. This facility has been
         US$ 30.000.000. Fasilitas ini telah ditingkatkan                 increased vide agreement dated March 26,
         melalui perjanjian tanggal 26 Maret 2022                         2022 to US$ 33,200,000 and effective until
         menjadi US$ 33.200.000 dan berlaku sampai                        March 25, 2023.
         dengan 25 Maret 2023.

         Pada tanggal 30 Juni 2023, PAU telah                             As of June 30, 2023, PAU has issued SBLC of
         menerbitkan         SBLC         sebesar                         US$ 33,200,000 to the gas supplier in
         US$ 33.200.000 kepada pemasok gas sesuai                         accordance with Gas Sales Agreement with
         Perjanjian Jual Beli Gas dengan biaya                            issuance fee of 0.75% per annum. This facility
         penerbitan 0,75% per tahun. Fasilitas ini                        is secured by PAU’s assets on pari-passu
         dijamin dengan aset PAU secara pari-passu                        sharing with Term Loan (Note 14a).
         bersama Term Loan (Catatan 14a).

         Pada tanggal 22 Februari 2022, PAU                               On February 22, 2022, PAU signed a Standby
         menandatangani Perjanjian Fasilitas SBLC                         Letter of Credit Agreement with PT Bank
         dengan PT Bank Mandiri (Persero) Tbk untuk                       Mandiri (Persero) Tbk to obtain SBLC facility
         memperoleh fasilitas SBLC dengan maksimal                        with maximum plafond of US$ 11,600,000 and
         plafon US$ 11.600.000 dan berlaku sampai                         effective until February 21, 2023. This Facility
         dengan 21 Februari 2023. Fasilitas ini telah                     has been upgraded through agreement dated
         ditingkatkan   melalui   perjanjian tanggal                      January 26, 2023 to become US$ 46,800,000.
         26 Januari 2023 menjadi US$ 46.800.000.

         Pada tanggal 31 Desember 2023, PAU telah                         As of December 31, 2023, PAU has issued
         menerbitkan SBLC sebesar US$ 37.596.920                          SBLC of US$ 37,596,920 to the gas supplier in
         kepada pemasok gas sesuai dengan                                 accordance with Gas Sales Agreement with
         Perjanjian Penjualan Gas dengan dengan                           issuance fee of 0.75% per annum. This facility
         biaya penerbitan sebesar 0,75% per tahun.                        is secured by PAU’s assets on pari-passu
         Fasilitas ini dijamin dengan aset PAU secara                     sharing with Term Loan (Note 14a).
         pari-passu bersama Term Loan (Catatan 14a)

                                                            61
Page 304
                                                                     The original consolidated financial statements included herein are in
                                                                                                                    Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                   PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                  (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                   AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                      STATEMENTS
31 Desember 2023 dan 2022                                          December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                and for the years then ended
pada tanggal tersebut                                              (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


14. UTANG BANK (lanjutan)                                          14. BANK LOANS (continued)

    c.   Standby Letter of Credit (SBLC) (lanjutan)                   c.    Standby Letter of Credit (SBLC) (continued)

         Berdasarkan surat dari PT Bank Mandiri                               Based on letter from PT Bank Mandiri
         (Persero) Tbk tanggal 20 Januari 2023 perihal                        (Persero) Tbk dated January 20, 2023
         Persetujuan Perpanjangan Fasilitas Kredit,                           regarding approval of credit facility extension,
         PAU mendapatkan Fasilitas SBLC dengan                                PAU received an SBLC facility with a
         maksimal plafon US$ 46.800.000 dan berlaku                           maximum plafond of US$ 46,800,000 and valid
         dari tanggal 24 Februari 2023 sampai dengan                          from February 24, 2023 until February 28,
         28 Februari 2024. Fasilitas ini dijamin dengan                       2024. This facility is guaranteed by PAU
         aset PAU secara pari-passu bersama Term                              assets on a pari-passu basis sharing with the
         Loan (Catatan 14a). Tidak ada saldo pinjaman                         Term Loan (Note 14a). There is no
         terhutang atas fasilitas ini.                                        outstanding balance for this facility.

         Berdasarkan surat dari PT Bank Negara                                Based on letter from PT Bank Negara
         Indonesia (Persero) Tbk tanggal 17 Maret                             Indonesia (Persero) Tbk dated March 17, 2023
         2023 perihal Persetujuan Perpanjangan                                regarding approval of credit facility extension,
         Fasilitas Kredit, PAU mendapatkan Fasilitas                          PAU received an SBLC facility with a plafond
         SBLC           dengan     plafon     sebesar                         of US$ 33,200,000 and valid from March 26,
         US$ 33.200.000 dan berlaku dari tangal 26                            2023 until March 25, 2024. This facility is
         Maret 2023 sampai dengan 25 Maret 2024.                              guaranteed by PAU assets on a pari-passu
         Fasilitas ini dijamin dengan aset PAU secara                         basis sharing with the Term Loan (Note 14a).
         pari-passu bersama Term Loan (Catatan 14a).                          There is no outstanding balance for this
         Tidak ada saldo pinjaman terhutang atas                              facility.
         fasilitas ini.


15. PROVISI                                                        15. PROVISIONS
                                                 2023                  2022

     Biaya insidental hukum dan lainnya           1.197.452             1.289.090 Legal and other incidental expenses

     Jumlah                                       1.197.452             1.289.090 Total



16. LIABILITAS SEWA                                                16. LEASE LIABILITIES
                                                 2023                  2022

     Bagian jangka pendek                          226.837                  82.160 Current portion
     Bagian jangka panjang                          68.162                 146.211 Non-current portion

     Jumlah                                        294.999                 228.371 Total


    Grup memiliki sewa untuk tanah dan minibus.                        The Group has leases for land and minibus. With
    Dengan pengecualian sewa jangka pendek dan                         the exception of short-term leases and leases of
    sewa dari aset pendasar bernilai rendah, setiap                    low-value underlying assets, these leases are
    sewa dicatat pada aset tetap sebagai aset hak-                     reflected under property, plant and equipment as a
    guna dan liabilitas sewa. Grup mengklasifikasikan                  right-of-use asset and lease liability. The Group
    aset hak-guna secara konsisten ke aset tetapnya                    classifies its right-of-use assets in a consistent
    (lihat Catatan 10).                                                manner to its property, plant and equipment (see
                                                                       Note 10).




                                                              62
Page 305
                                                                               The original consolidated financial statements included herein are in
                                                                                                                              Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                           PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                          (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                           AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                              NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                              STATEMENTS
31 Desember 2023 dan 2022                                                  December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                        and for the years then ended
pada tanggal tersebut                                                      (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


16. LIABILITAS SEWA (lanjutan)                                             16. LEASE LIABILITIES (continued)

    Setiap sewa pada umumnya memberlakukan                                       Each lease generally imposes a restriction that,
    batasan bahwa, kecuali terdapat hak kontraktual                              unless there is a contractual right for the Group’s to
    bagi Grup untuk menyewakan aset kepada pihak                                 sublet the asset to another party, the right-of-use
    lain, aset hak-guna hanya dapat digunakan oleh                               asset can only be used by the Group. Leases are
    Grup. Sewa tidak dapat dibatalkan atau hanya                                 either non-cancellable or may only be cancelled by
    dapat dibatalkan dengan menimbulkan biaya                                    incurring a substantive termination fee. Some
    penghentian yang substansial. Beberapa sewa                                  leases contain an option to extend the lease for a
    berisi opsi untuk memperpanjang sewa untuk                                   further term. The Group is prohibited from selling or
    jangka waktu lebih lanjut. Grup dilarang menjual                             pledging the underlying leased assets as security.
    atau     menjaminkan     aset    sewaan     yang                             Further, the Group must insure items of property,
    mendasarinya sebagai jaminan. Lebih lanjut, Grup                             plant and equipment and incur maintenance fees
    harus     mengasuransikan     aset   tetap   dan                             on such items in accordance with the lease
    menanggung biaya pemeliharaan atas aset                                      contracts.
    tersebut sesuai dengan kontrak sewa.

    Tabel di bawah ini menjelaskan sifat aktivitas sewa                          The table below describes the nature of the
    Grup menurut jenis aset hak-guna yang diakui di                              Group’s leasing activities by type of right-of-use
    aset tetap:                                                                  asset recognized on property, plant and equipment:
                                                                         Rata-rata
                                   Jumlah                               sisa masa             Jumlah sewa         Jumlah
                                aset hak-guna     sisa jangka         sewa (tahun)/           dengan opsi      sewa dengan
                               yang disewakan/   waktu (tahun)/          average             perpanjangan/     opsi membeli/
                                   Total of         range of            remaining                Total of      Total of lease
                                 Right-of-use      remaining               lease               leases with      with options
                                    leased        term (year)          term (year)         extension options    to purchase

    Perusahaan                                                                                                                      Company
    Minibus                                  1                    3                   3                   1                     -   Mini bus
    Gedung kantor                            1                    3                   3                   1                     -   Office building

    Entitas Anak                                                                                                                    Subsidiary
    Tanah                                    1                    4                   4                   1                     -   Land


    Pembayaran sewa minimum dimasa depan pada                                    Future minimum payments at December 31, 2023
    31 Desember 2023 dan 2022 adalah sebagai                                     and 2022, were as follows:
    berikut:

                                                      2023                       2022

    Tidak lebih dari satu tahun                            257.503                         50.065 Not later than one year
    Lebih dari satu tahun dan kurang                                                              Later than one year and not later than
      dari lima tahun                                      121.813                        203.184   five years

    Dikurangi : biaya keuangan masa depan                  (84.317)                       (24.878) Less : future finance charges

    Nilai kini pembayaran minimum sewa                     294.999                        228.371 Present value of minimum lease payments
    Bagian yang jatuh tempo dalam
       waktu satu tahun                                   (226.837)                       (82.160) Current maturity

    Liabilitas sewa setelah dikurangi
       bagian yang jatuh tempo dalam
       waktu 1 tahun - neto                                  68.162                       146.211 Lease liabilities – Net of current maturity




                                                                      63
Page 306
                                                                    The original consolidated financial statements included herein are in
                                                                                                                   Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                  PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                 (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                  AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                     STATEMENTS
31 Desember 2023 dan 2022                                         December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                               and for the years then ended
pada tanggal tersebut                                             (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


17. PERPAJAKAN                                                    17. TAXATION

    a.   Pajak dibayar dimuka                                        a.    Prepaid taxes

                                                2023                 2022

         Pajak pertambahan nilai                 2.670.935             3.719.349       Value added tax
         Pajak penghasilan pasal 28a                10.136                 9.990       Income tax article 28a

         Jumlah                                  2.681.071             3.729.339       Total


    b.   Utang pajak                                                 b.    Taxes payable

                                                2023                 2022

         Pajak penghasilan badan                   710.406                726.450      Corporate income tax
         Pajak penghasilan                                                             Income Taxes
           Pasal 21                                488.752                343.722         Article 21
           Pasal 23                                121.656                 68.703         Article 23
           Pasal 26                                 19.269                  5.167         Article 26
           Pasal 4 (2)                               6.532                    764         Article 4(2)
           Pasal 25                                 28.673                162.390         Article 25

         Jumlah                                  1.375.288             1.307.196       Total


    c.   Beban (manfaat) pajak                                       c.    Income tax expenses (benefit)

         Beban (manfaat) Grup terdiri dari:                                 Income tax expenses (benefit) of the Group
                                                                            consists of the following:
                                                2023                 2022

         Pajak kini                                                                  Current tax
           Perusahaan                            2.608.890             3.573.900       The Company
           Penyesuaian untuk tahun pajak 2022       (1.031)                    -       Adjustment for fiscal year 2022

         Sub-jumlah                              2.607.859             3.573.900 Sub-total

         Pajak tangguhan                                                             Deferred tax
           Perusahaan                              904.413               (20.910)      The Company
           Entitas anak                         11.552.608            51.717.704       Subsidiaries

         Sub-jumlah                             12.457.021            51.696.794 Sub-total

         Jumlah – neto                          15.064.880            55.270.694 Total – net


         Rekonsiliasi antara beban (manfaat) pajak dan                      A reconciliation between the total tax expense
         hasil perkalian laba akuntansi sebelum pajak                       (benefit) and the amounts computed by
         dengan tarif pajak yang berlaku adalah                             applying the effective tax rates to profit (loss)
         sebagai berikut:                                                   before tax is as follows:

                                                2023                 2022

         Laba sebelum
            pajak penghasilan menurut                                             Profit before income tax per
            laporan laba rugi dan penghasilan                                       consolidated statements of profit or
            komprehensif lain konsolidasian     61.788.317           276.061.020    loss and other comprehensive income
         Dikurangi :                                                              Less :
         Laba sebelum pajak                                                        Profit before tax from
            Entitas Anak sebelum eliminasi      (51.903.027)        (256.585.311)     Subsidiary before elimination
         Eliminasi transaksi sehubungan                                            Eliminating transactions
            dengan Entitas Anak                 29.774.953               (42.716)     with subsidiaries

                                                             64
Page 307
                                                                    The original consolidated financial statements included herein are in
                                                                                                                   Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                  PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                 (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                  AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                     STATEMENTS
31 Desember 2023 dan 2022                                         December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                               and for the years then ended
pada tanggal tersebut                                             (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


17. PERPAJAKAN (lanjutan)                                         17. TAXATION (continued)

    c.   Beban (manfaat) pajak (lanjutan)                            c.     Income tax expenses (benefit) (continued)

                                                2023                 2022

         Laba sebelum pajak
           penghasilan Perusahaan               39.660.243            19.432.993 Profit before income tax of the Company

         Pajak penghasilan dengan tarif
           pajak efektif                          8.725.253            4.275.258 Income tax at effective tax rate
         Penghasilan tidak kena pajak            (5.260.243)             (71.181) Non taxable income
         Penyesuaian untuk tahun pajak 2022          (1.031)                   - Adjustment for fiscal tax year 2022
         Efek penurunan tarif pajak                (411.981)            (564.505) Tax reduction effect
         Koreksi atas pajak tangguhan               460.274              (86.582) Deferred tax correction

         Beban pajak penghasilan Perusahaan      3.512.272             3.552.990 Income tax expense of the Company
         Beban pajak penghasilan entitas anak   11.552.608            51.717.704 Income tax expense of subsidiaries

         Jumlah beban pajak penghasilan         15.064.880            55.270.694 Total income tax expense


    d.   Pajak Kini                                                   d.     Current Tax

         Rekonsiliasi antara laba (rugi) sebelum pajak                       The reconciliations between profit (loss) before
         menurut laporan laba rugi dan penghasilan                           tax per consolidated statement of profit or loss
         komprehensif lain konsolidasian dengan laba                         and other comprehensive income and taxable
         kena pajak adalah sebagai berikut:                                  income (loss) are as follows:

                                                2023                 2022

         Laba sebelum
            pajak penghasilan menurut                                                  Profit before income tax per
            laporan laba rugi dan penghasilan                                             consolidated statements of profit or
            komprehensif lain konsolidasian     61.788.317           276.061.020          loss and other comprehensive income
         Dikurangi :                                                                   Less :
         Laba sebelum pajak                                                            Profit before tax from
            Entitas Anak sebelum eliminasi      (51.903.027)        (256.585.311)         Subsidiary before elimination
         Eliminasi transaksi sehubungan                                                Eliminating transactions
            dengan Entitas Anak                 29.774.953                  (42.716)      with subsidiaries


         Laba sebelum pajak
           penghasilan Perusahaan               39.660.243            19.432.993          Profit before income tax of the Company


         Perbedaan temporer:                                                           Temporary differences:
           Beban imbalan pasca kerja               170.478                 (140.945)     Post-employment benefits
           Perbedaan penyusutan                                                          Difference between commercial
             komersial dan fiskal                (2.194.316)               (164.317)        and fiscal depreciation
           Aset hak-guna                              5.031                   6.753      Right-of use assets

         Jumlah                                  (2.018.807)               (298.509)      Total




                                                             65
Page 308
                                                                    The original consolidated financial statements included herein are in
                                                                                                                   Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                  PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                 (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                  AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                     STATEMENTS
31 Desember 2023 dan 2022                                         December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                               and for the years then ended
pada tanggal tersebut                                             (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


17. PERPAJAKAN (lanjutan)                                         17. TAXATION (continued)

    d.   Pajak Kini (lanjutan)                                        d.    Current Tax (continued)

                                                  2023                     2022
         Perbedaan permanen:                                                              Permanent differences:
            Beban yang tidak dapat
               diperhitungkan                        6.445.914                233.673        Non-deductible expenses
            Pendapatan yang merupakan
               objek pajak final                   (30.356.109)              (557.223)       Income subject to final tax

         Jumlah                                    (23.910.195)              (323.550) Total
         Laba kena pajak – Perusahaan              13.731.241              18.810.934     Taxable income - the Company


         Beban dan utang pajak kini dalam adalah                            Current tax expense and payable are as
         sebagai berikut:                                                   follows:

                                                  2023                     2022

         Beban pajak kini - Perusahaan               2.608.890               3.573.900 Current tax expense - the Company
         Dikurangi pajak dibayar dimuka                                                 Less prepaid taxes
            Pajak penghasilan                                                              Income taxes
            Pasal 22                                      (592)                 (7.400)    Article 22
            Pasal 23                                   (73.667)                (99.434)    Article 23
            Pasal 25                                (1.824.225)             (2.740.616)    Article 25

         Jumlah                                     (1.898.484)             (2.847.450) Total

         Kurang bayar pajak penghasilan                                                   Under payment of corporate
           badan - Perusahaan                         710.406                 726.450        income tax – the Company


         Dalam laporan keuangan konsolidasian ini,                          In these consolidated financial statements, the
         jumlah penghasilan kena pajak didasarkan                           amount of taxable income is based on
         atas   perhitungan   sementara,   karena                           preliminary calculations, as the Company has
         Perusahaan belum menyampaikan Surat                                not yet submitted its corporate income tax
         Pemberitahuan Tahunan pajak penghasilan                            returns.
         badan.

         Perusahaan terbuka yang memenuhi syarat-                          Public   companies        that  meet    certain
         syarat tertentu berhak memperoleh penurunan                       requirements are entitled to a reduction in the
         tarif pajak penghasilan sebesar 3% dari tarif                     income tax rate of 3% from the applicable
         pajak penghasilan yang berlaku sesuai                             income tax rate according to PP No. 30 Tahun
         PP No. 30 Tahun 2020. Untuk tahun fiskal                          2020. For fiscal year 2023 and 2022, the
         2023 dan 2022 Perusahaan memenuhi kriteria                        Company meets the above criteria, and
         diatas, sehingga dikenakan tarif pajak dengan                     therefore subject to the tax rates with the
         fasilitas tersebut diatas untuk tahun 2023 dan                    above facilities for 2023 and 2022.
         2022.




                                                           66
Page 309
                                                                                    The original consolidated financial statements included herein are in
                                                                                                                                   Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                               PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                              (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                               AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                                  NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                                  STATEMENTS
31 Desember 2023 dan 2022                                                      December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                            and for the years then ended
pada tanggal tersebut                                                          (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


17. PERPAJAKAN (lanjutan)                                                      17. TAXATION (continued)

    e.   Pajak tangguhan                                                              e.     Deferred income tax

         Rincian dari aset (liabilitias) pajak tangguhan                                     The details of the Group’s deferred tax assets
         Grup adalah sebagai berikut:                                                        (liabilities) is as follows:
                                                                           Dikreditkan
                                                                          (dibebankan)
                                                                         ke pendapatan
                                                       Dikreditkan        komprehensif
                                                      (dibebankan)             lain/
                                                        ke laporan       Credited (debit)
                                   1 Januari/           laba rugi/           to other                           31 Desember/
                                   January 1,       Credited (debited)   comprehensive          Koreksi/        December 31,
                                      2023           to profit or loss       income            Correction           2023

         Perusahaan                                                                                                               Company
         Imbalan pasca kerja             199.642               37.505              26.570                  -             263.717 Post employment benefits
         Aset tetap                     (162.656)            (482.750)                  -           (460.274)         (1.105.680) Property, plant and equipment
         Liabilitas sewa                   1.486                1.106                   -                  -               2.592 Lease liabilities

         Entitas Anak                                                                                                               Subsidiary
         Rugi fiskal                  48.488.715           (2.179.429)                                      -         46.309.286    Fiscal loss
         Imbalan pascakerja              368.699              118.100              34.017                   -            520.816    Post employment benefits
         Aset tetap                  (48.741.123)          (9.489.356)                                      -        (58.230.479)   Property, plant and equipment
         Liabilitas sewa                  21.386               (1.923)                                      -             19.463    Lease liabilities
         Lindung nilai arus kas       (3.037.053)                   -           1.930.852                   -         (1.106.201)   Cash flow hedge

         Aset (liabilitas) pajak                                                                                                    Deferred tax asset
           tangguhan - neto           (2.860.904)         (11.996.747)          1.991.439           (460.274)        (13.326.486)     (liabilities)– net



                                                                           Dikreditkan
                                                                          (dibebankan)
                                                                         ke pendapatan
                                                       Dikreditkan        komprehensif
                                                      (dibebankan)             lain/
                                                        ke laporan       Credited (debit)
                                   1 Januari/           laba rugi/           to other                           31 Desember/
                                   January 1,       Credited (debited)   comprehensive          Koreksi/        December 31,
                                      2022           to profit or loss       income            Correction           2022

         Perusahaan                                                                                                               Company
         Imbalan pasca kerja             201.820              (31.008)             28.830                  -             199.642 Post employment benefits
         Aset tetap                     (213.088)             (36.150)                  -             86.582            (162.656) Property, plant and equipment
         Liabilitas sewa                       -                1.486                   -                  -               1.486 Lease liabilities

         Entitas Anak                                                                                                               Subsidiary
         Rugi fiskal                  91.308.882          (42.880.853)                  -             60.686          48.488.715    Fiscal loss
         Imbalan pascakerja              321.434               63.770             (16.505)                               368.699    Post employment benefits
         Aset tetap                  (39.758.430)          (9.758.918)                  -            776.225         (48.741.123)   Property, plant and equipment
         Liabilitas sewa                       -                2.122                   -             19.264              21.386    Lease liabilities
         Lindung nilai arus kas         (436.572)                   -          (2.600.481)                 -          (3.037.053)   Cash flow hedge

         Aset (liabilitas) pajak                                                                                                    Deferred tax asset - net
           tangguhan -neto            51.424.046          (52.639.551)         (2.588.156)           942.757          (2.860.904)     (liabilities) - net



         Pada tanggal 31 Desember 2023 dan 2022,                                             As of December 31, 2023 and 2022, PAU had
         PAU mempunyai akumulasi kerugian fiskal                                             accumulated fiscal losses amounting to
         masing-masing sebesar US$ 210.496.754 dan                                           US$ 210,496,754 and US$ 220,403,249
         US$     220.403.249.      Sesuai      peraturan                                     respectively. According to tax regulation, these
         perpajakan, kerugian fiskal tersebut dapat                                          fiscal losses may be carried forward and
         dikompensasikan dengan pendapatan kena                                              applied against taxable income in any of the
         pajak yang terjadi selama masa lima tahun                                           five years following the year in which the fiscal
         sesudah kerugian fiskal tersebut terjadi.                                           loss was incurred.

         Pada tahun 2018, PAU memperoleh fasilitas                                           In 2018, PAU has received net income
         pengurangan penghasilan neto dari Direktorat                                        reduction facility from Directorate General of
         Jendral Pajak untuk jangka waktu 7 tahun                                            Taxes for 7 fiscal years amounting to 5% from
         pajak, sebesar masing-masing 5% dari jumlah                                         total investment plan, which began since fiscal
         rencana penanaman modal, yang dimulai                                               year 2017 until 2023.
         sejak tahun fiskal 2017 sampai dengan 2023.


                                                                          67
Page 310
                                                                   The original consolidated financial statements included herein are in
                                                                                                                  Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                 PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                 AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                    STATEMENTS
31 Desember 2023 dan 2022                                        December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                              and for the years then ended
pada tanggal tersebut                                            (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


17. PERPAJAKAN (lanjutan)                                        17. TAXATION (continued)

    e.   Pajak tangguhan (lanjutan)                                  e.   Deferred income tax (continued)

         Pada tanggal 2 Desember 2022, PAU                                On December 2, 2022, PAU received tax letter
         menerima surat pajak yang menyatakan dapat                       which states that it can take advantage of loss
         memanfaatkan kompensasi kerugian selama 7                        compensation for 7 years for losses for the
         tahun atas kerugian tahun pajak 2019.                            2019 tax year.

         Pada tanggal 18 Desember 2023, PAU                               On December 18, 2023, PAU received Tax
         menerima Surat Keputusan Pajak No. KEP-                          Decision Letter No. KEP-324/WPJ.04/2023
         324/WPJ.04/2023     mengenai     persetujuan                     regarding approval for determination of
         penetapan berlokasi usaha di daerah tertentu.                    business location in a certain area. The
         Ketetapan ini berlaku dalam jangka 5 tahun                       decision applied for 5 years effective from
         yang mulai efektif pada 18 Desember 2023                         December 18, 2023 until November 2028.
         sampai dengan November 2028.

   f.    Klaim pengembalian pajak                                   f.    Claim for tax refund

         Perusahaan                                         f.            The Company

         Selama 2023 dan 2022, penerimaan restitusi                       During 2023 and 2022, restitution receipt from
         dari kantor pajak sebesar US$ 175.833 dan                        tax office amounting to US$ 175,833 and
         US$ 142.985 atas lebih bayar PPN untuk                           US$ 142,985 regarding VAT overpayment for
         tahun pajak 2016 sampai dengan tahun 2022.                       fiscal year 2016 until 2022. The Company is
         Perusahaan masih menunggu banding pajak                          still waiting for tax appeal regarding VAT
         atas lebih bayar PPN untuk tahun fiskal 2017,                    overpayment for fiscal year 2017, 2019, and
         2019, dan 2020 sebesar US$ 313.585.                              2020 amounting to US$ 313,585.

         PAU                                                              PAU

         Selama tahun 2023 dan 2022, penerimaan                           During 2023 and 2022, restitution receipt from
         restitusi dari    kantor      pajak    sebesar                   tax office amounting to US$ 4,615,903 and
         US$ 4.615.903 dan US$ 3.094.126 atas lebih                       US$ 3,094,126 regarding VAT overpayment
         bayar PPN untuk tahun pajak 2020 sampai                          for fiscal year 2020 until 2023. The company
         dengan 2023. PAU masih menunggu                                  still wait an examination regarding the
         pemeriksaan terkait sisa restitusi PPN sebesar                   remaining balance of VAT refund amounted
         US$ 151.120.                                                     US$ 151,120.

   g.    Perubahan tarif pajak                                      g.    Tax rate changes

         Pada tanggal 29 Oktober 2021, Pemerintah                         On October 29, 2021, the Government of
         Indonesia mengeluarkan Undang-Undang                             Indonesia issued Law No. 7 Year 2021
         (UU) No. 7 Tahun 2021 tentang Harmonisasi                        regarding Harmonization of Tax Regulations.
         Peraturan Perpajakan. Antara lain Undang-                        This law among other things stipulates an
         Undang ini mengatur kenaikan tariff PPN                          increase in the VAT rate to 11% effective from
         menjadi 11% berlaku mulai 1 April 2022 dan                       April 1, 2022 and to 12% which apply at the
         menjadi 12% yang berlaku paling lambat                           latest on January 1, 2025. Further the
         tanggal 1 Januari 2025. Selanjutnya untuk tarif                  Corporate Income Tax rate will remains at
         pajak penghasilan badan akan tetap sebesar                       22%.
         22%.




                                                           68
Page 311
                                                                        The original consolidated financial statements included herein are in
                                                                                                                       Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                      PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                     (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                      AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                         NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                         STATEMENTS
31 Desember 2023 dan 2022                                             December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                   and for the years then ended
pada tanggal tersebut                                                 (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


18. LIABILITAS IMBALAN KERJA                                          18. EMPLOYEE BENEFITS LIABILITY

    Grup membukukan imbalan pasca kerja untuk                            The Group recorded post-employment benefits to
    karyawan sesuai dengan Peraturan Grup. Jumlah                        employees in accordance with the Group’s policy.
    karyawan yang berhak atas imbalan pasca kerja                        Number of employees entitled to post-employment
    adalah masing-masing 374 dan 366 karyawan                            benefits are 374 and 366 at December 31, 2023
    pada tanggal 31 Desember 2023 dan 2022.                              and 2022. The post-employment benefit is a
    Imbalan ini merupakan program imbalan pasti yang                     defined benefit program that is unfunded.
    tidak didanai.

    Risiko tingkat bunga                                                 Interest risk

    Penurunan     suku       bunga       obligasi    akan                A decrease in the bond interest rate will increase
    meningkatkan liabilitas program.                                     the plan liability.

    Risiko gaji                                                          Salary risk

    Nilai kini kewajiban imbalan pasti dihitung dengan                   The present value of the defined benefit plan
    mengacu pada gaji masa depan peserta program.                        liability is calculated by reference to the future
    Dengan demikian, kenaikan gaji peserta program                       salaries of plan participants. As such, an increase
    akan meningkatkan liabilitas program itu.                            in the salary of the plan participants will increase
                                                                         the plan’s liability.

    Beban imbalan pasca kerja yang diakui di laporan                     Amounts recognized in the consolidated statement
    laba rugi dan penghasilan komprehensif lain                          of profit or loss and other comprehensive income in
    konsolidasian adalah:                                                respect of the benefits are as follows:

                                                    2023                 2022

    Diakui pada laba rugi:                                                            Recognised in profit or loss:
    Biaya jasa kini                                    551.679               495.339 Current service costs
    Biaya bunga                                        179.706               149.724 Interest costs
    Penyesuaian atas perubahan                                                        Adjustment due to changes in
       metode atribusian                                     -              (225.107)   attribution method

    Komponen beban imbalan pasti                                                         Components of defined benefit
      yang diakui dalam laba rugi                      731.385               419.956       costs recognized in profit or loss


    Diakui pada penghasilan komprehensif lain:                                         Recognised in other comprehensive income:
    Pengukuran kembali liabilitas                                                      Remeasurement on the net defined
       imbalan pasti - neto:                                                             benefit liability:
    Keuntungan dan kerugian aktuarial                                                  Actuarial gain and loss from
       atas penyesuaian pengalaman                     133.190                (20.010)   experience adjustments
    Keuntungan dan kerugian aktuarial                                                  Actuarial gain and loss from change
       atas perubahan asumsi keuangan                  142.204                      -    in financial assumptions
    Penyesuaian atas perubahan                                                         Adjustment due to changes in
       metode atribusian                                     -                 76.033   attribution method

    Komponen beban imbalan pasti                                                      Components of defined benefit costs
      yang diakui dalam penghasilan                                                     recognized in other
      komprehensif lain                                275.394                 56.023   comprehensive income

    Jumlah                                           1.006.782               475.979 Total




                                                                 69
Page 312
                                                                                     The original consolidated financial statements included herein are in
                                                                                                                                    Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                                  PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                                 (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                                  AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                                     NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                                     STATEMENTS
31 Desember 2023 dan 2022                                                         December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                               and for the years then ended
pada tanggal tersebut                                                             (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


18. LIABILITAS IMBALAN KERJA (lanjutan)                                           18. EMPLOYEE BENEFITS LIABILITY (continued)

    Seluruh beban imbalan pasca kerja termasuk                                         All employee benefits liability were included in
    dalam beban umum dan administrasi.                                                 general and administrative expenses.

    Jumlah liabilitas yang disajikan di laporan posisi                                 The amounts included in the consolidated
    keuangan konsolidasian yang timbul dari liabilitas                                 statement of financial position arising from the
    Grup sehubungan imbalan pasca kerja adalah nilai                                   Group’s obligation in respect of these post-
    kini dari liabilitas imbalan pasca kerja adalah                                    employment benefits are as follows:
    sebagai berikut:

                                                             2023                      2022

    Saldo awal                                                  2.583.373                  2.378.428 Beginning balance
    Biaya jasa kini                                               551.679                    495.339 Current service cost
    Biaya bunga                                                   179.706                    149.724 Interest cost
    Keuntungan dan kerugian aktuarial                                                              - Actuarial gains and losses from
       dari penyesuaian pengalaman                                133.193                    (20.010)    experience adjustment
    Keuntungan dan kerugian aktuarial                                                                 Actuarial gains and losses from
       dari penyesuaian demografis                                142.204                          -     demographic adjustment
    Pembayaran imbalan                                            (84.239)                   (35.833) Benefits paid
    Keuntungan dan kerugian aktuarial                                                                 Actuarial gains and losses from change
       dari perubahan asumsi keuangan                                                               -
                                                                                                         in financial assumptions
    Keuntungan dan kerugian selisih kurs                            60.152                  (235.201) Loss and gain on foreign exchange
    Penyesuaian atas perubahan                                                                        Adjustment due to changes in
       metode atribusian                                                                                 attribution method
       penyesuaian pada laba rugi                                        -                  (225.107)    adjustment to profit or loss
       penyesuaian pada penghasilan                                                                      adjustment to other comprehensive
       komprehensif lain                                                 -                    76.033     income

    Saldo akhir                                                 3.566.068                  2.583.373 Ending balance


    Sensitivitas dari kewajiban imbalan pasti terhadap                                 The sensitivity of the defined benefit obligation to
    perubahan asumsi aktuarial utama adalah sebagai                                    changes in the weighted principal assumptions are
    berikut:                                                                           as follow:
                                                    Perubahan
                                                      nilai kini
                                                     kewajiban/
                                                     Change in
                                                  present value of
                                                       benefit               Kenaikan/              Penurunan/
                                                     obligation              Increase*)             Decrease*)

      2023                                                                                                               2023
      Tingkat diskonto                                           1%               1.644.969                1.938.960     Discount rate
      Tingkat kenaikan gaji                                      1%               1.942.061                1.639.521     Salary increment rate

      2022                                                                                                               2022
      Tingkat diskonto                                           1%               2.379.275                2.814.243     Discount rate
      Tingkat kenaikan gaji                                      1%               2.819.922                2.370.332     Salary increment rate

    *) angka liabilitas imbalan kerja setelah kenaikan atau penurunan                     *) employee benefits liability figure after increase or decrease

    Analisis sensitivitas yang disajikan di atas mungkin                               The sensitivity analysis presented above may not
    tidak mewakili perubahan yang sebenarnya dalam                                     be representative of the actual change in the
    kewajiban imbalan pasti mengingat bahwa                                            defined benefits obligation as it is unlikely that the
    perubahan asumsi terjadinya tidak terisolasi satu                                  change in assumptions would occur in isolation of
    sama lain karena beberapa asumsi tersebut                                          one another as some of the assumptions may be
    mungkin berkorelasi.                                                               correlated.




                                                                             70
Page 313
                                                                              The original consolidated financial statements included herein are in
                                                                                                                             Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                          PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                         (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                          AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                             NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                             STATEMENTS
31 Desember 2023 dan 2022                                                 December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                       and for the years then ended
pada tanggal tersebut                                                     (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


18. LIABILITAS IMBALAN KERJA (lanjutan)                                   18. EMPLOYEE BENEFITS LIABILITY (continued)

    Selanjutnya, dalam menyajikan analisis sensitivitas                           Furthermore, in presenting the above sensitivity
    di atas, nilai kini kewajiban imbalan pasti dihitung                          analysis, the present value of the defined benefits
    dengan menggunakan metode projected unit credit                               obligation has been calculated using the projected
    pada akhir periode pelaporan, yang sama dengan                                unit credit method at the end of the reporting
    yang diterapkan dalam menghitung liabilitas                                   period, which is the same as that applied in
    manfaat pasti yang diakui dalam laporan posisi                                calculating the defined benefits obligation
    keuangan konsolidasian.                                                       recognized in the consolidated statement of
                                                                                  financial position.

    Durasi rata-rata tertimbang kewajiban imbalan pasti                           The weighted average duration of the defined
    untuk akhir tahun pelaporan berkisar antara 11,34                             benefits plan obligation at the end of the reporting
    sampai dengan 13,22 tahun (2022: 11,88 sampai                                 year is approximately 11.34 to 13.22 years (2022:
    dengan 13,52 tahun).                                                          11.88 to 13.52 years).

    Perhitungan imbalan pasca kerja dihitung oleh                                 The cost of providing post-employment benefits
    aktuaris independen, Kantor Konsultan Aktuaria                                calculated by an independent actuary, Kantor
    Riana & Rekan. Asumsi utama yang digunakan                                    Konsultan Aktuaria Riana & Rekan. The actuarial
    dalam menentukan penilaian aktuarial adalah                                   valuation was carried out using the following key
    sebagai berikut:                                                              assumptions:

                                                           2023                   2022

    Tingkat diskonto per tahun                          6,75%                 7,25%                         Discount rate per annum
    Tingkat kenaikan gaji                                                                                   Future salary increment rate
       per tahun                                      7%-10%                  7%- 10%                         per annum
    Tingkat mortalitas                              100% TMI4               100% TMI4                       Mortality rate
    Tingkat cacat                                    5% TMI4                  5% TMI4                       Disability rate
    Tingkat pengunduran diri             15% pada usia 30 dan                15% pada usia 30 dan           Resignation rate
                                      menurun secara linier sampai       menurun secara linier sampai
                                     dengan 0% pada usia 55 dan 56       dengan 0% pada usia 55 dan 56
                                        tahun / 15% until age 30            tahun / 15% until age 30
                                       then decrease linearly and        then decrease linearly and
                                      become 0% at age55 and 56           become 0% at age 55 and 56
    Usia pensiun normal                            56 tahun/ year          56 tahun/ year             Normal retirement age


19. MODAL SAHAM                                                           19. CAPITAL STOCK

    Komposisi pemegang saham Perusahaan pada                                      The composition of the Company’s stockholders as
    tanggal 31 Desember 2023 dan 2022, berdasarkan                                of December 31, 2023 and 2022, based on the list
    daftar pemegang saham dari PT Datindo Entrycom,                               of stockholders provided by PT Datindo Entrycom,
    Biro Administrasi Efek Perusahaan, adalah sebagai                             the Company's Bureau of Securities Administration,
    berikut:                                                                      is as follows:

                                                                  2023

                                                               Persentase
                                                              kepemilikan/            Jumlah modal
                                        Jumlah saham/         Percentage of              disetor/
                                          Number of            ownership                   Total
    Nama Pemegang Saham                     shares                 (%)                paid-up capital    Name of Stockholders

    PT Trinugraha Akraya Sejahtera         3.402.325.000                  19,75              3.247.144   PT Trinugraha Akraya Sejahtera
    Chander Vinod Laroya                   2.821.983.677                  16,38              2.693.272   Chander Vinod Laroya
    Garilbaldi Thohir                        956.188.134                   5,55                912.576   Garilbaldi Thohir
    Arif Rachmat                               1.979.600                   0,01                  1.876   Arif Rachmat
    Masyarakat (masing-masing
       dibawah 5%)                        10.044.499.289                  58,31              9.586.378 Public (each below 5%)

    Jumlah                                17.226.975.700                 100,00            16.441.246 Total




                                                                     71
Page 314
                                                                                     The original consolidated financial statements included herein are in
                                                                                                                                    Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                                 PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                                (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                                 AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                                    NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                                    STATEMENTS
31 Desember 2023 dan 2022                                                        December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                              and for the years then ended
pada tanggal tersebut                                                            (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


19. MODAL SAHAM (lanjutan)                                                       19. CAPITAL STOCK (continued)
                                                                   2022

                                                                Persentase
                                                               kepemilikan/                  Jumlah modal
                                        Jumlah saham/          Percentage of                    disetor/
                                          Number of             ownership                         Total
    Nama Pemegang Saham                     shares                  (%)                      paid-up capital     Name of Stockholders

    PT Trinugraha Akraya Sejahtera          3.617.900.000                        23,10              3.940.870 PT Trinugraha Akraya Sejahtera
    Chander Vinod Laroya                    2.038.939.327                        13,02              2.214.696 Chander Vinod Laroya
    Arif Rachmat                                1.979.600                         0,01                  1.876 Arif Rachmat
    Masyarakat (masing-masing
       dibawah 5%)                         10.002.068.073                        63,87              9.248.168 Public (each below 5%)

    Jumlah                                 15.660.887.000                    100,00                15.405.610 Total



    Pada tanggal 16 Februari 2023, Perusahaan                                            On February 16, 2023, the Company issued
    menerbitkan 1.566.088.700 lembar saham dengan                                        1,566,088,700 shares with a nominal value of
    nilai nominal Rp 10 per lembar saham dari hasil                                      Rp 10 per share and all shares resulting from the
    penerbitan saham dengan Penambahan Modal                                             addition of capital by granting nonpre-emptive
    Tanpa Hak Memesan Efek Terlebih Dahulu                                               rights (PMTHMETD), so the subscribed and paid
    (PMTHMETD), sehingga modal ditempatkan dan                                           up capital has increased from 15,660,887,000
    disetor meningkat dari 15.660.887.000 lembar                                         shares (equivalent to US$ 15,405,610) to
    saham (setara dengan US$ 15.405.610) menjadi                                         17,226,975,700      shares     (equivalent      to
    17.226.975.700 lembar saham (setara dengan                                           US$ 16,441,246).
    US$ 16.441.246)


20. TAMBAHAN MODAL DISETOR                                                       20. ADDITIONAL PAID-IN CAPITAL

                                                                             Ekuitas diatribusikan
                                  Agio saham/           Biaya emisi                kepada
                                 Paid in capital          saham/               entitas induk/
                                   in excess           Share issuance        Equity attributable               Jumlah/
                                  of par value              cost              to parent entity                  Total

    Saldo pada tanggal                                                                                                         Balance as of
        31 Desember 2022              93.986.183             (3.083.534)                           -             90.902.649      December 31, 2022

    Pengeluaran 1.566.088.700
       saham tanpa hak                                                                                                         Issuance of 1,566,088,700
       memesan terlebih                                                                                                           shares with non
       dahulu                        105.117.050               (49.451)                            -            105.067.599       pre-emptive rights

    Penyesuaian atas                                                                                                           Adjustment on
       penambahan kepemilikan                                                                                                    additional ownership
       pada entitas anak                           -                    -                (66.662.053)           (66.662.053)     on subsidiaries

    Saldo pada tanggal                                                                                                         Balance as of
        31 Desember 2023             199.103.233             (3.132.985)                 (66.662.053)           129.308.195      December 31, 2023



    Berikut ini merupakan rincian perhitungan                                        The following are the detail of calculation of equity
    penyesuaian ekuitas yang dapat diatribusikan                                     adjustment attributable to the parent in relation to
    kepada entitas induk sehubungan dengan                                           additional ownership in subsidiaries where the
    penambahan kepemilikan pada entitas anak                                         parent entity do not loss of control, for
    dimana      entitas    induk   tidak   kehilangan                                measurement purposes, the net assets of ECI and
    pengendalian, untuk tujuan pengukuran, aset                                      PAU agreed upon between the parent entity and
    bersih ECI dan PAU yang disepakati antara entitas                                the subsidiary in calculating equity adjustments
    induk dan entitas anak dalam menghitung                                          attributable to the parent entity (EII) is using net
    penyesuaian ekuitas yang dapat diatribusikan                                     assets as of December 31, 2022 :
    kepada entitas induk (EII) adalah menggunakan
    aset bersih per posisi 31 Desember 2022:



                                                                            72
Page 315
                                                               The original consolidated financial statements included herein are in
                                                                                                              Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                             PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                            (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                             AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                STATEMENTS
31 Desember 2023 dan 2022                                    December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                          and for the years then ended
pada tanggal tersebut                                        (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


20. TAMBAHAN MODAL DISETOR (lanjutan)                        20. ADDITIONAL PAID-IN CAPITAL (continued)

                                                      2023
    Level EII konsolidasi                                             EII consolidation level

    Aset bersih ECI konsolidasian sebelum                             Net asset ECI consolidation before
      penambahan saham pada 99,9994%                  434.633.180       additional share at 99.9994%
    Aset bersih ECI konsolidasian sesudah                             Net asset ECI consolidation after
      penambahan saham pada 99,9997%                  551.777.180       additional share at 99.9997%
    Penambahan aset bersih EII pada ECI               117.144.000     Additional net asset of EII in ECI
    Jumlah tercatat investasi PAU yang dialihkan      112.472.625     Carrying value of investment in PAU transferred
    Sub jumlah                                          4.671.375     Sub total

    Level ECI konsolidasian                                           ECI consolidation level

    Aset bersih PAU                                   434.632.716     Net asset of PAU
    Jumlah yang dibayar                               117.144.000 Consideration paid
    Pihak nonpengendali – 10,54%                      (45.810.288) Non-controlling interests – 10.54%
    Penyesuaian ekuitas yang dapat
      diatribusikan kepada entitas induk              (71.333.712) Equity adjustment attributable to parent entity
    Pihak nonpengendali                                       284 Non-controlling interest
    Sub jumlah                                        (71.333.428) Sub total

    Jumlah                                            (66.662.053) Total




21. DIVIDEN DAN CADANGAN UMUM                                21. DIVIDENDS AND APPROPRIATED RETAINED
                                                                 EARNINGS

    Sesuai dengan Rapat Umum Pemegang Saham                     As stated in the Deed of PAU’s the Annual
    Tahunan PAU tanggal 25 Januari 2023, pemegang               Stockholders’ Meeting dated January 25, 2023, the
    saham menyetujui untuk membagikan dividen                   stockholders have approved to distribute dividend
    sebesar USD 50.000.000. Seluruh dividen telah               amounting to US$ 50,000,000. All dividend has
    dibayarkan 26 Januari 2023.                                 been paid on January 26, 2023.

    Sesuai dengan Rapat Umum Pemegang Saham                     As stated in the Deed of ECI’s the Annual
    Tahunan ECI tanggal 25 Januari 2023, pemegang               Stockholders’ Meeting dated January 25, 2023, the
    saham menyetujui untuk membagikan dividen                   stockholders have approved to distribute dividend
    sebesar USD 29.500.000. Seluruh dividen telah               amounting to US$ 29,500,000. All dividend has
    dibayarkan 26 Januari 2023.                                 been paid on January 26, 2023.

    Sesuai dengan Rapat Umum Pemegang Saham                     As stated in the Deed of the Annual Stockholders’
    Tahunan tanggal 15 Maret 2023, telah ditetapkan             Meeting dated on March 15, 2023, the stockholders
    sebagai berikut:                                            have approved the following:

    a. Jumlah total dividen yang dibagikan adalah               a.    Total amount of dividend distributed is
       sejumlah Rp 775.213.906.500 (setara dengan                     amounting to Rp 775,213,906,500 (equivalent
       US$ 51.468.193) atau Rp 45 per saham.                          to US$ 51,468,193) or Rp 45 per share.
    b. Sejumlah US$ 88.417.378 dialokasikan                     b.    Total of US$ 88,417,378 is used as
       sebagai laba ditahan                                           unappropriated retained earnings.
    c. Seluruh dividen dibayarkan pada bulan April              c.    The dividend was fully paid in April 2023.
       2023.




                                                      73
Page 316
                                                                      The original consolidated financial statements included herein are in
                                                                                                                     Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                    PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                   (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                    AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                       NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                       STATEMENTS
31 Desember 2023 dan 2022                                           December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                 and for the years then ended
pada tanggal tersebut                                               (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


21. DIVIDEN DAN CADANGAN UMUM (lanjutan)                            21. DIVIDENDS AND APPROPRIATED RETAINED
                                                                        EARNINGS (continued)

    Sesuai dengan Rapat Umum Pemegang Saham                             As stated in the Deed of the Annual Stockholders’
    Tahunan tanggal 7 Juni 2022, telah ditetapkan                       Meeting dated on June 7, 2022, the stockholders
    sebagai berikut:                                                    have approved the following:

    a.     Jumlah total dividen yang dibagikan adalah                   a.    Total amount of dividend distributed is
           sejumlah Rp 78.304.435.000 (setara dengan                          amounting to Rp 78,304,435,000 (equivalent
           US$ 5.383.725) atau Rp 5 per saham.                                to US$ 5,383,725) or Rp 5 per share.
    b.     Sejumlah US$ 8.481.461 untuk pembentukan                     b.    Total of US$ 8,481,461 for the establishment
           cadangan     umum      yang      terdiri atas                      of a general reserve consisting US$ 915,022 is
           US$ 915.022 dialokasikan sebagai laba                              allocated as reserve profit and US$ 7,566,439
           cadangan dan US$ 7.566.439 digunakan                               is used as unappropriated retained earnings.
           sebagai laba ditahan yang ditetapkan.
    c.     Seluruh dividen telah dibayarkan pada bulan                  c.    The dividend was fully paid in June 2022.
           Juni 2022.


22. KEPENTINGAN NONPENGENDALI                                       22. NON-CONTROLLING INTERESTS

    Akun ini merupakan kepentingan nonpengendali                       This account represents the non-controlling interest
    atas aset bersih dan rugi bersih ECI dan PAU. Di                   on the net assets and net losses of ECI and PAU.
    bawah ini adalah pergerakan kepentingan                            Below is the movement of non-controlling interests:
    nonpengendali:

                                                  2023                 2022

    Saldo awal                                   172.978.548            87.317.934 Beginning balance
    Perubahan porsi kepemilikan                                                    Changes in portion of
      kepentingan non pengendali                 (44.517.663)                    -   non-controlling interest
    Jumlah laba komprehensif                                                       Total comprehensive income
      tahun berjalan                              10.018.709            85.660.614   for the year
    Pembagian dividen                                                              Dividend distribution to
      kepada nonpengendali                       (20.000.169)                    -   non-controlling interest
    Penyesuaian ekuitas yang dapat                                                 Equity adjustment attributable
      diatribusikan ke entitas induk                       (284)                 -   to parent

    Saldo akhir                                  118.479.141           172.978.548 Ending balance


    Ringkasan informasi keuangan pada PAU, entitas                     Summarized financial information in respect of
    anak     Grup,   yang    memiliki    kepentingan                   PAU, the Group’s subsidiary that has material
    nonpengendali yang material ditetapkan dibawah                     non-controlling interest is set out below. The
    ini. Ringkasan informasi keuangan di bawah ini                     summarized financial information below represents
    merupakan jumlah sebelum eliminasi intra grup.                     amounts before intragroup eliminations.
                                                  2023                 2022

    Aset                                         610.393.399           734.955.004       Assets

    Liabilitas                                   192.368.095           300.322.288       Liabilities
    Ekuitas yang diatribusikan kepada                                                    Equity attributable to owners of
       pemilik saham                             292.617.712           260.779.629          the Company
    Kepentingan nonpengendali                    125.407.592           173.853.087       Non-controlling interest

    Jumlah Liabilitas dan Ekuitas                610.393.399           734.955.004       Total Liabilities and Equity

    Pendapatan                                   299.683.273           681.368.314       Revenues
    Beban                                       (259.324.335)         (476.498.098)      Expenses

    Laba bersih periode berjalan                  40.358.938           204.870.216       Net profit for the period




                                                               74
Page 317
                                                                   The original consolidated financial statements included herein are in
                                                                                                                  Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                 PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                 AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                    STATEMENTS
31 Desember 2023 dan 2022                                        December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                              and for the years then ended
pada tanggal tersebut                                            (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


22. KEPENTINGAN NONPENGENDALI (lanjutan)                         22. NON-CONTROLLING INTERESTS (continued)

                                               2023                 2022

    Laba bersih diatribusikan kepada:                                                 Net profit attributable to:
      Pemilik entitas induk                    28.250.153           122.920.964         Owners of the Company
      Kepentingan nonpengendali                12.108.785            81.949.252         Non-controlling interest

    Jumlah laba bersih tahun berjalan          40.358.938           204.870.216       Total net profit for the year

    Penghasilan (rugi) komprehensif                                                   Other comprehensive
      lain yang dapat diatribusikan kepada:                                             income (loss) attributable to:
      Pemilik entitas induk                    (4.876.274)            5.567.044         Owners of the Company
      Kepentingan nonpengendali                (2.090.076)            3.711.362         Non-controlling interests

    Jumlah penghasilan (rugi) komprehensif                                            Total other comprehensive income
      lain periode berjalan                    (6.966.350)            9.278.406         (loss) for the period

    Jumlah laba komprehensif                                                          Total comprehensive income
      yang dapat diatribusikan kepada:                                                  attributable to:
      Pemilik entitas induk                    23.373.879           128.488.008         Owners of the Company
      Kepentingan nonpengendali                10.018.709            85.660.614         Non-controlling interests

    Jumlah laba komprehensif                                                          Total comprehensive income
      tahun berjalan                           33.392.588           214.148.622         for the year



23. PENDAPATAN                                                   23. REVENUES

                                               2023                 2022

    Pihak berelasi                                                                  Related party
      Penjualan amonia                        299.683.273           681.368.314      Sales Ammonia

    Pihak ketiga                                                                    Third party
      Penjualan elpiji                         41.483.038            46.541.305      Sales LPG
      Jasa pengolahan                           3.795.314             3.581.115      Processing fees

    Jumlah                                    344.961.625           731.490.734 Total


    Pendapatan dari kontrak dengan pelanggan                        Revenue from contract with customers represents
    merupakan pendapatan yang diakui pada titik                     revenue recognised at point in time.
    waktu tertentu.

    Berikut adalah rincian penjualan yang melebihi                  Here are details of sales exceeding 10% of net
    10% dari penjualan bersih masing-masing pada                    sales in 2023 and 2022, respectively:
    tahun 2023 dan 2022:

                                               2023                 2022

    Genesis Corporation                       299.683.273           681.368.314 Genesis Corporation




                                                            75
Page 318
                                                                     The original consolidated financial statements included herein are in
                                                                                                                    Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                   PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                  (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                   AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                      STATEMENTS
31 Desember 2023 dan 2022                                          December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                and for the years then ended
pada tanggal tersebut                                              (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


24. BEBAN POKOK PENDAPATAN                                         24. COST OF REVENUES

                                                  2023                2022

    Bahan baku digunakan (Catatan 7)            144.827.035           304.900.246 Raw materials used (Note 7)
    Tenaga kerja langsung                         7.997.714             7.063.598 Direct labor
    Biaya pabrikasi                              85.488.647            70.786.696 Manufacturing expenses

    Beban Pokok Produksi                        238.313.396           382.750.540 Cost of Goods Manufactured
    Persediaan barang jadi (Catatan 7)                                             Finished goods (Note 7)
      Awal periode                               13.098.213            20.675.665     At beginning of period
      Akhir periode                              (9.626.921)          (13.098.213)    At end of period

    Beban Pokok Pendapatan                      241.784.688           390.327.992 Cost of Revenues


    Berikut adalah rincian pembelian bahan baku yang                  Here are details of purchases exceeding 10% of
    melebihi 10% dari pendapatan bersih masing-                       net revenue in 2023 and 2022, respectively:
    masing pada tahun 2023 dan 2022:

                                                  2023                2022
    Joint Operation Body Pertamina Medco                                              Joint Operation Body Pertamina Medco
       Tomoro Sulawei                           102.963.562           289.087.689       Tomoro Sulawei

    Rincian biaya pabrikasi adalah sebagai berikut:                   Details of manufacturing expenses are as follows:

                                                  2023                2022

    Penyusutan (Catatan 10)                      45.295.411            45.265.870     Depreciation (Note 10)
    Perbaikan dan pemeliharaan                   17.933.696             7.188.330     Repairs and maintenance
    Suku cadang dan perlengkapan pabrik           6.166.192             4.187.759     Factory spareparts and supplies
    Asuransi                                      6.152.635             5.610.913     Insurance
    Tenaga kerja tidak langsung                   4.281.517             2.449.864     Indirect labor
    Jasa penasehat                                1.695.774             1.873.924     Advisory fees
    Transportasi dan akomodasi                    1.550.719             1.871.033     Transportation and accomodation
    Beban kantor                                  1.222.351             1.116.295     Office expenses
    Lain-lain                                     1.190.352             1.222.708     Others

    Jumlah                                       85.488.647            70.786.696 Total




25. BEBAN UMUM DAN ADMINISTRASI                                    25. GENERAL AND ADMINISTRATIVE EXPENSES

                                                2023                  2022

    Gaji dan tunjangan                           10.051.217             6.844.366     Salaries and employee welfare
    Jasa manajemen (Catatan 28)                   9.276.411            23.877.937     Management fees (Note 28)
    Penyusutan (Catatan 10)                       1.480.810             1.612.253     Depreciation (Note 10)
    Biaya jasa profesional                        1.015.629             1.559.787     Professional services fees
    Transportasi dan akomodasi                      978.648               494.811     Transportation and accomodation
    Biaya kantor                                    739.203               602.306     Office expenses
    Beban imbalan pasca kerja                       731.385               419.956     Post employment benefit
    Biaya pajak                                     288.549               307.136     Tax expenses
    Biaya legal dan lisensi                         278.511               244.349     Legal fees and licenses
    Amortisasi                                      162.978               141.879     Amortization
    Donasi                                          160.752               158.456     Donation
    Lain-lain                                       433.003               374.813     Others

    Jumlah                                       25.597.096            36.638.049 Total




                                                              76
Page 319
                                                                       The original consolidated financial statements included herein are in
                                                                                                                      Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                     PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                    (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                     AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                        NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                        STATEMENTS
31 Desember 2023 dan 2022                                            December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                  and for the years then ended
pada tanggal tersebut                                                (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


26. BEBAN KEUANGAN                                                   26. FINANCE COSTS

                                                   2023                 2022

    Bunga atas pinjaman utang bank                12.717.159             24.851.743 Interest on bank loans
    Amortisasi biaya transaksi utang bank          3.647.747              6.025.637 Amortisation of bank loan transaction costs
    Biaya keuangan lainnya                         1.261.184                902.858 Other financial charges

    Jumlah                                        17.626.090             31.780.238 Total



27. LABA PER SAHAM                                                   27. EARNINGS PER SHARE

    Laba per saham dasar/dilusian                                       Basic/diluted earnings per share

    Laba dan rata-rata tertimbang saham yang                            The earnings and weighted average number of
    digunakan untuk menghitung laba per saham dasar                     ordinary shares used in the calculation of basic
    adalah sebagai berikut:                                             earnings per share are as follows:

                                                   2023                 2022

    Laba                                                                            Earnings
    Laba untuk perhitungan laba                                                     Earnings for computation of basic/diluted
      per saham dasar/dilusian                    34.614.652            138.841.074   earnings per share

    Jumlah saham                                                                    Number of shares
    Jumlah rata-rata tertimbang                                                     Weighted average number of
      saham biasa untuk perhitungan                                                   ordinary shares for computation
      laba per saham dasar/dilusian            17.025.314.963        15.660.887.000   of basic/diluted earnings per share

    Laba per saham (dalam 1.000 saham)                                                  Earnings per share (in 1,000 shares)
      Dasar/dilusian                                   2,033                   8,865      Basic/diluted

    Jumlah rata-rata tertimbang saham             yang                  The weighted average number of shares for the
    digunakan untuk menghitung laba per saham dasar                     computation of basic and diluted earnings per
    dan     dilusian    telah    disesuaikan     untuk                  share has been adjusted to reflect the effect of
    mencerminkan pengaruh dari penambahan saham                         additional new shares on February 16, 2023.
    baru yang terjadi pada tanggal 16 Februari 2023.


28. SIFAT  DAN           TRANSAKSI          PIHAK-PIHAK              28. NATURE    OF     RELATIONSHIP     AND
    BERELASI                                                             TRANSACTIONS WITH RELATED PARTIES

    Dalam kegiatan usaha yang normal, Perusahaan                        In normal course of business, the Company
    melakukan transaksi dengan pihak berelasi dengan                    entered into transactions with related parties, and it
    menggunakan kebijakan harga dan syarat disetujui                    has been conducted based on terms agreed by
    oleh kedua belah pihak, yang mungkin tidak sama                     the parties, which may not be the same as those of
    dengan transaksi lain yang dilakukan dengan                         the transactions between unrelated parties.
    pihak-pihak yang tidak berelasi.

    Ringkasan pihak-pihak yang berelasi, sifat                          The summary of related parties, relationship with
    hubungan berelasi dan jenis transaksinya yang                       the related parties and nature of the significant
    signifikan pada tahun 2023 dan 2022 adalah                          transactions in 2023 and 2022 are as follows:
    sebagai berikut:




                                                                77
Page 320
                                                                      The original consolidated financial statements included herein are in
                                                                                                                     Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                    PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                   (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                    AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                       NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                       STATEMENTS
31 Desember 2023 dan 2022                                           December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                 and for the years then ended
pada tanggal tersebut                                               (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


28. SIFAT  DAN       TRANSAKSI             PIHAK-PIHAK              28. NATURE      OF  RELATIONSHIP AND
    BERELASI (lanjutan)                                                 TRANSACTIONS WITH RELATED PARTIES
                                                                        (continued)

         Pihak-pihak yang berelasi/        Sifat hubungan dengan pihak berelasi/                            Transaksi/
              Related parties               Relationship with the related parties                          Transactions

    PT Akraya International (Akraya)          Pemegang saham/Stockholders               Jasa manajemen/management fee
    PT Trinugraha Akraya Sejahtera (TAS)      Pemegang saham/Stockholders               Dividen/Dividend
    Chander Vinod Laroya                      Pemegang saham/Stockholders               Dividen/Dividend
    Arif Rachmat                              Pemegang saham/Stockholders               Dividen/Dividend
    Genesis Corporation                       Dibawah kendali yang sama/                Penjualan ammonia/Sales of ammonia
                                              Under common control

    Transaksi-transaksi signifikan dengan pihak-pihak                  Significant transactions with related parties are as
    berelasi adalah sebagai berikut:                                   follows:

    a.   Pendapatan dari pihak berelasi selama tahun                    a.   Revenue from related parties during 2023 and
         2023 dan 2022 (Catatan 23) adalah sebagai                           2022 (Note 23) are as follows: (Revenue as
         berikut: (pendapatan sebagai persentase                             percentage of total revenue)
         terhadap jumlah pendapatan)

                                                    2023                         2022

         Genesis Corporation          299.683.273          86,87%   681.368.314            93,14 %     Genesis Corporation

         Dari transaksi di atas, piutang usaha dari pihak                     From transaction above, trade receivable from
         berelasi (Catatan 6) adalah sebagai berikut:                         related party (Note 6) are as follows: (Trade
         (piutang usaha sebagai persentase terhadap                           receivable as percentage of total trade
         total piutang usaha)                                                 receivable)

                                                    2023                         2022

         Genesis Corporation           29.670.720          78,93%    57.988.096             93,81%     Genesis Corporation

         Harga jual ditentukan berdasarkan perjanjian.                        Sales prices         are     determined       based      on
                                                                              agreement.

    b.   Biaya dari pihak berelasi berasal dari: (Biaya                 b.   Expenses from related parties are derived
         sebagai persentase terhadap total beban                             from: (Expense as percentage of total general
         umum dan administrasi)                                              and administrative Expense)
                                                    2023                         2022

         Jasa manajemen                                                                                Management fee
           PT Akraya International                                                                       PT Akraya International
             (Akraya)                   6.877.310          25,01%    16.685.805             45,54%         (Akraya)

    c.   Pembagian dividen ke pemegang saham                            c.   Dividend distribution to shareholders during
         selama tahun 2023 dan 2022 (Catatan 21)                             2023 and 2022 (Note 21) are as follows:
         adalah sebagai berikut: (dividen sebagai                            (Dividend as percentage of total dividend)
         persentase terhadap total dividen)

                                                    2023                         2022

         PT Trinugraha Akraya                                                                          PT Trinugraha Akraya
            Sejahtera (TAS)            10.560.813          21,00%     1.243.777             23,10%        Sejahtera (TAS)
         Chander Vinod Laroya           8.237.498          16,38%       700.955             13,01%     Chander Vinod Laroya
         Arif Rachmat                       5.779           0,00%           681              0,01%     Arif Rachmat

         Jumlah                        18.804.090                     1.945.413                        Total



                                                               78
Page 321
                                                                  The original consolidated financial statements included herein are in
                                                                                                                 Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                               (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                   STATEMENTS
31 Desember 2023 dan 2022                                       December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                             and for the years then ended
pada tanggal tersebut                                           (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


28. SIFAT  DAN       TRANSAKSI           PIHAK-PIHAK            28. NATURE      OF  RELATIONSHIP AND
    BERELASI (lanjutan)                                             TRANSACTIONS WITH RELATED PARTIES
                                                                    (continued)

    Transaksi dengan Pihak Berelasi                                Transactions with Related Parties

    Dalam kegiatan usahanya, Grup melakukan                        In the normal course of business, the Group
    transaksi tertentu dengan pihak berelasi, yang                 entered into certain transactions with related
    meliputi antara lain:                                          parties, including the following:

    a.   Pada tanggal 27 November 2007, Perusahaan                 a.    On November 27, 2007, the Company entered
         menandatangani Perjanjian Jasa Manajemen                        into an Agreement for Rendering Management
         dan Jasa Tambahan dengan Akraya, dimana                         Services and Additional Service with Akraya,
         Akraya harus memberikan jasa tertentu                           whereby Akraya shall provide certain services
         kepada Perusahaan sebagaimana tercantum                         to the Company as stated in such agreement.
         dalam      perjanjian    tersebut.    Sebagai                   As compensation, the Company shall pay
         kompensasi, Perusahaan akan membayar                            Akraya a certain management fee. Agreement
         biaya yang ditentukan kepada manajemen                          was last amended on January 11, 2011, in
         Akraya. Perjanjian ini terakhir diubah tanggal                  which the agreement will expire on:
         11 Januari 2011, dimana perjanjian ini akan
         berakhir pada:

            Tanggal dimana kontrak pasokan bahan                           The date when the raw material gas
             baku gas dengan Pertamina berakhir                              supply contract with Pertamina ended with
             dengan atau tanpa perpanjangan kontrak                          or without extension of the contract; or
             tersebut; atau
            Tanggal dimana terdapat keyakinan yang                         The date when there is reasonable
             memadai bahwa proses produksi elpiji,                           assurance that the process of production
             kondensat dan propana Perusahaan tidak                          of the Company’s LPG, condensate and
             layak lagi secara komersial atau terdapat                       propane is no longer commercially viable
             keadaan         ketidakmampuan      untuk                       or there is a state of inability to obtain raw
             mendapatkan gas alam mentah selama                              natural gas during periods of sufficient; or
             periode yang memadai; atau
            Tanggal dimana terdapat keyakinan yang                         The date when there is reasonable
             memadai        bahwa     eksistensi    dari                     assurance that the existence of the
             Perusahaan        dan     Akraya     tidak                      Company and Akraya is no longer
             berkelanjutan lagi.                                             sustainable.

         Perjanjian diatas akan tetap berlaku walaupun                   The agreement above will remain in force
         terjadi perubahan pemegang saham atau                           despite of a change in shareholders or transfer
         transfer usaha Perusahaan kepada entitas                        of business (business transfer) of the
         lain.                                                           Company to another entity.

    b.   TAS dan Perusahaan adalah sponsor dana                    b.    TAS and the Company are the sponsors of
         proyek PAU.                                                     PAU’s project fund.

    c.   Pada     tanggal   1    Mei     2012,    PAU              c.    On May 1, 2012, PAU signed an agreement
         menandatangani perjanjian penyerahan Jasa                       for Receiving Technical, Advisory and
         Teknis, Konsultasi dan Pemasaran terkait                        Marketing Services with respect to the
         proyek Amonia dengan Akraya. Perjanjian                         Ammonia project, with Akraya. The agreement
         telah di amandemen dan disajikan kembali                        had been amended and restated on October
         pada tanggal 30 Oktober 2015 dan berlaku                        30, 2015 and effective until December 3, 2027.
         sampai 3 Desember 2027. Biaya yang                              Fee payable to Akraya for such services will
         dibayarkan kepada Akraya untuk layanan                          be US$ 2,000,000 per annum during
         tersebut sejumlah US$ 2.000.000 per tahun                       construction period. After start of commercial
         selama periode konstruksi. Setelah dimulainya                   production, management service fee that will
         produksi komersial, biaya jasa manajemen                        be charged 4% of PAU’s EBITDA.
         yang akan dibebankan adalah 4% atas
         EBITDA PAU.
                                                           79
Page 322
                                                                                  The original consolidated financial statements included herein are in
                                                                                                                                 Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                              PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                             (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                              AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                                 NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                                 STATEMENTS
31 Desember 2023 dan 2022                                                     December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                           and for the years then ended
pada tanggal tersebut                                                         (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


28. SIFAT  DAN       TRANSAKSI                      PIHAK-PIHAK               28. NATURE      OF  RELATIONSHIP AND
    BERELASI (lanjutan)                                                           TRANSACTIONS WITH RELATED PARTIES
                                                                                  (continued)

    Transaksi dengan Pihak Berelasi (lanjutan)                                         Transactions with Related Parties (continued)

    d.    Jumlah gaji dan tunjangan yang diberikan                                     d.    Total salaries and benefits granted to Directors
          kepada Direksi dan Komisaris Perusahaan                                            and Commissioners of the Company for the
          untuk   tahun-tahun     yang      berakhir                                         years ended December 31, 2023 and 2022
          31 Desember 2023 dan 2022 masing-masing                                            amounting to US$ 410,226 and US$ 306,792,
          sebesar US$ 410.226 dan US$ 306.792.                                               respectively.


29. SEGMEN USAHA                                                              29. OPERATING SEGMENTS

    PSAK 5 (revisi 2009) mensyaratkan agar segmen                                      PSAK 5 (revised 2009) requires operating
    operasi ditentukan berdasarkan laporan internal                                    segments to be identified on the basis of internal
    tentang komponen Perusahaan dan entitas anak                                       reports on components of the Company and its
    yang ditelaah secara berkala oleh pengambil                                        subsidiaries that are regularly reviewed in order to
    keputusan utama dalam rangka mengalokasikan                                        allocate resources to the segments and to assess
    sumber daya terhadap segmen tersebut dan                                           their performance.
    menilai kinerja segmen tersebut.

    Untuk tujuan pelaporan manajemen, Perusahaan                                       For management reporting purposes, the Company
    dan entitas anak dikelompokkan berdasarkan elpiji,                                 and subsidiaries are grouped by LPG refinery,
    kilang minyak, amonia dan lainnya. Berikut ini                                     ammonia and others. The following are operational
    adalah operasional menurut setiap segmen yang                                      according to each segments that can be
    dapat dilaporkan:                                                                  channeled:

                                                            31 Desember/December 31, 2023

                                  Elpiji dan Jasa
                                   Pengolahan/
                                     LPG and           Amonia/         Lainnya/              Eliminasi/        Konsolidasi/
                                  Processing Fee       Ammonia          Others              Eliminations       Consolidated

    PENDAPATAN                                                                                                                    REVENUE
    Penjualan eksternal                45.278.352       299.683.273                -                       -      344.961.625     External sales
    Penjualan antar segmen                      -                 -                -                       -                -     Inter-segment sales

    Jumlah pendapatan                  45.278.352       299.683.273                -                       -      344.961.625     Total revenues


    Hasil segmen                       16.499.678        86.677.259                -                       -      103.176.937     Segment result

    Beban penjualan                       (115.542)        (421.361)               -                    -             (536.903)   Selling expense
    Beban umum dan administrasi         (7.245.837)     (18.452.916)          (9.076)             110.733          (25.597.096)   General and administrative expenses
    Beban keuangan                        (290.670)     (17.375.595)            (120)              40.295          (17.626.090)   Finance costs
    Penghasilan bunga                      930.618        1.951.109              650                                 2.882.377    Interest income
    Keuntungan dan kerugian
       lain-lain - neto                29.881.995         (466.950)      29.731.840           (59.657.793)            (510.908)   Other gains and losses - net

    Laba sebelum
       pajak pengasilan                39.660.242        51.911.546      29.723.294           (59.506.765)          61.788.317    Profit before income tax
    Beban pajak                        (3.512.272)      (11.552.608)              -                     -          (15.064.880)   Tax benefit expense

    Laba tahun berjalan                36.147.970        40.358.938      29.723.294           (59.506.765)          46.723.437    Profit for the year




                                                                         80
Page 323
                                                                                         The original consolidated financial statements included herein are in
                                                                                                                                        Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                                    PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                                   (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                                    AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                                       NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                                       STATEMENTS
31 Desember 2023 dan 2022                                                           December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                                 and for the years then ended
pada tanggal tersebut                                                               (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


29. SEGMEN USAHA (lanjutan)                                                         29. OPERATING SEGMENTS (continued)

                                                                   31 Desember/December 31, 2023

                                       Elpiji dan Jasa
                                        Pengolahan/
                                          LPG and            Amonia/         Lainnya/          Eliminasi/         Konsolidasi/
                                       Processing Fee        Ammonia          Others          Eliminations        Consolidated

    Didistribusikan kepada:                                                                                                          Attributable to:
    Pemilik entitas induk                                                                                              34.614.652    Owners of the Company
    Kepentingan nonpengendali                                                                                          12.108.785    Non-Controlling Interest

    Jumlah laba konsolidasian                                                                                          46.723.437    Total consolidated profit

    Aset Segmen                            340.583.630        610.393.398      260.692.070      (516.226.851)        695.442.247     Segment Assets

    Liabilitas segmen                        (5.754.748)      (91.156.880)          (2.189)         60.068.808        (36.845.009)   Segment liabilities
    Liabilitas yang tidak dapat
       dialokasikan                                      -   (101.211.212)                -        (59.642.385)      (160.853.597)   Unallocated Liabilities

    Jumlah liabilitas yang
      dikonsolidasikan                       (5.754.748)     (190.336.846)          (2.189)           426.423        (197.698.606)   Total consolidated liabilities

    Informasi lainnya                                                                                                                Other information
                                                                                                                                     Addition to property, plant and
    Penambahan pada aset tetap                                                                                          2.780.452       equipment

    Beban penyusutan                                                                                                  (46.776.221)   Depreciation expense

    Amortisasi biaya transaksi                                                                                         (3.416.531)   Amortization of transaction cost


                                                                   31 Desember/December 31, 2022

                                       Elpiji dan Jasa
                                        Pengolahan/
                                          LPG and            Amonia/         Lainnya/          Eliminasi/         Konsolidasi/
                                       Processing Fee        Ammonia          Others          Eliminations        Consolidated

    PENDAPATAN                                                                                                                       REVENUE
    Penjualan eksternal                     50.122.420        681.368.314                 -                  -       731.490.734     External sales
    Penjualan antar segmen                           -                  -                 -                  -                 -     Inter-segment sales

    Jumlah pendapatan                       50.122.430        681.368.314                 -                  -       731.490.734     Total revenues

    Hasil segmen                            24.964.518        316.198.224                 -                  -       341.162.742     Segment result


    Beban penjualan                             (32.224)       (2.736.727)               -                   -         (2.768.951)   Selling expense
    Beban umum dan administrasi              (6.605.623)      (30.139.984)          (2.607)            110.165        (36.638.049)   General and administrative expenses
    Beban keuangan                             (247.198)      (31.725.547)             (69)            192.576        (31.780.238)   Finance costs
    Penghasilan bunga                           701.496           535.997                3            (143.430)         1.094.066    Interest income
    Keuntungan dan kerugian
       lain-lain - neto                        652.024          4.455.957               10            (116.541)         4.991.450    Other gains and losses - net

    Laba (rugi) sebelum
       pajak pengasilan                     19.432.993        256.587.920           (2.663)            42.770        276.061.020     Profit (loss) before income tax
    Manfaat (beban) pajak                   (3.552.990)       (51.717.704)               -                  -        (55.270.694)    Income tax benefit (expense)

    Laba (rugi) tahun berjalan              15.880.003        204.870.216           (2.663)            42.770        220.790.326     Profit (loss) for the year



    Didistribusikan kepada:                                                                                                          Attributable to:
    Pemilik entitas induk                                                                                            138.841.074     Owners of the Company
    Kepentingan nonpengendali                                                                                         81.949.252     Non-Controlling Interest

    Jumlah laba (rugi) konsolidasian                                                                                 220.790.326     Total consolidated profit (loss)

    Aset Segmen                            241.788.401        734.955.004      143.322.586      (288.031.639)        831.295.165     Segment Assets

    Liabilitas segmen                        (6.334.416)     (218.094.618)                -        188.231.965        (36.197.069)   Segment liabilities
    Liabilitas yang tidak dapat
       dialokasikan                                      -    (82.816.060)                -     (186.917.936)        (269.733.996)   Unallocated Liabilities

    Jumlah liabilitas yang
      dikonsolidasikan                       (6.334.416)     (300.910.678)                -          1.314.029      (305.931.065)    Total consolidated liabilities

    Informasi lainnya                                                                                                                Other information
                                                                                                                                     Addition to property, plant and
    Penambahan pada aset tetap                                                                                          1.229.975       equipment

    Beban penyusutan                                                                                                  (46.878.123)   Depreciation expense

    Amortisasi biaya transaksi                                                                                         (5.812.920)   Amortization of transaction cost


                                                                               81
Page 324
                                                                    The original consolidated financial statements included herein are in
                                                                                                                   Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                  PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                 (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                  AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                     STATEMENTS
31 Desember 2023 dan 2022                                         December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                               and for the years then ended
pada tanggal tersebut                                             (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


30. KOMITMEN DAN PERJANJIAN SIGNIFIKAN                            30. COMMITMENTS                    AND              SIGNIFICANT
                                                                      AGREEMENTS
    Perusahaan                                                       The Company
    a.   Pada tanggal 11 Oktober 2006, Perusahaan                    a.    On October 11, 2006, the Company entered
         menandatangani        Perjanjian      Kerjasama                   into a Joint Operation Agreement (“JOA”) with
         Operasi ("JOA") dengan OBP, entitas anak.                         OBP, a subsidiary. OBP owns the necessary
         OBP memiliki izin yang diperlukan untuk                           licenses to operate a mini LPG refinery plant
         mengoperasikan kilang elpiji kecil untuk                          for production of LPG, condensate, and
         produksi elpiji, kondensat, dan propana, dan                      propane, and OBP is awarded a raw feed gas
         OBP memperoleh kontrak pasokan bahan                              supply contract by PT Pertamina EP (“PEP”)
         baku gas dari PT Pertamina EP (PEP) selama                        over the next 15 years or until the delivery of
         15 tahun berikutnya atau sampai pengiriman                        the total contract quantity is fulfilled. The
         kuantitas      jumlah      kontrak     terpenuhi.                 Company has all the required resources and
         Perusahaan memiliki semua sumber daya dan                         funding to construct, own and run the LPG
         pendanaan        yang       diperlukan     untuk                  refinery plant. The Company and OBP shall
         membangun, memiliki dan menjalankan pabrik                        jointly operate and run the LPG business. Both
         kilang elpiji. Perusahaan dan OBP bersama-                        parties agreed that the raw gas purchased
         sama mengoperasikan dan menjalankan bisnis                        from PEP by OBP shall be processed in the
         elpiji. Kedua pihak sepakat bahwa bahan baku                      LPG plant of the Company. The JOA has been
         gas yang dibeli dari PEP dengan OBP akan                          amended on September 20, 2007 and
         diproses di pabrik elpiji Perusahaan. JOA telah                   December 28, 2008.
         diubah pada tanggal 20 September 2007 dan
         28 Desember 2008.
         Pada tanggal 16 Oktober 2012, PEP dan OBP                         On October 16, 2012, PEP and OBP entered
         menandatangani kesepakatan bersama yang                           into a mutual agreement regarding a new gas
         menyetujui perubahan harga pembelian gas                          purchase price and handling fee of
         dan pemrosesan kondensat. PEP akan                                condensate. PEP will pay handling fee to the
         membayar     biaya   pemrosesan    kepada                         Company on delivery of condensate.
         Perusahaan atas penyerahan kondensat.
         JOA telah diubah beberapa kali; dan pada                          The JOA has been amended several times;
         tanggal 13 Desember 2012, Perusahaan dan                          and on December 13, 2012, the Company and
         OBP menandatangani Perjanjian Pengalihan                          OBP entered into Novation of Sales Purchase
         Hak dan Kewajiban atas Perjanjian Jual Beli                       Agreement; whereas, OBP will be novating all
         Gas; dimana, OBP akan mengalihkan semua                           the ownership right of the raw feed gas supply
         hak kepemilikan dan kepentingan atas                              contract to the Company. This novation
         Perjanjian Jual Beli Gas yang dimilikinya                         agreement of gas and purchase is approved
         kepada Perusahaan. Realokasi perjanjian jual                      by Minister of Energy and Mineral Resources
         beli gas tersebut di atas telah disetujui oleh                    of the Republic of Indonesia on August 31,
         Menteri Energi dan Sumber Daya Mineral                            2018.
         Republik Indonesia tanggal 31 Agustus 2018.
         Pada tanggal 14 Oktober 2019, PEP, OBP dan                        On October 14, 2019, PEP, OBP and the
         Perusahaan     menandatangani      perjanjian                     Company entered into a novation agreement
         novasi tentang Jual Beli Gas untuk keperluan                      regarding a gas purchase for Palembang’s
         kilang di Palembang. Berdasarkan perjanjian                       Plant. Based on this agreement all OBP’s right
         tersebut seluruh hak dan kewajiban OBP                            and obligation was transferred to the
         dialihkan ke Perusahaan, dan sejak saat itu                       Company, and since then the Company have
         pula    Perusahaan    memiliki    hak    dan                      full right and authority to the raw feed gas
         kewenangan penuh atas kontrak pasokan                             supply contract.
         bahan baku gas.
         Pada tanggal 10 November 2022, PEP dan                            On November 10, 2022, PEP and the
         Perusahaan menandatangani amandemen                               Company     entered    into    the   eleventh
         kesebelas kesepakatan bersama tentang                             amendment of the joint agreement regarding
         Pembahasan    Kesepakatan    Harga  Gas                           the Discussion of Processed Gas Price
         Terproses untuk kebutuhan kilang LPG di                           Agreement for the needs of the LPG refinery in
         Palembang, Sumatera Selatan tahun 2021-                           Palembang, South Sumatera in 2021-2027.
         2027.
                                                             82
Page 325
                                                                The original consolidated financial statements included herein are in
                                                                                                               Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                              PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                             (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                              AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                 NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                 STATEMENTS
31 Desember 2023 dan 2022                                     December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                           and for the years then ended
pada tanggal tersebut                                         (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


30. KOMITMEN      DAN    PERJANJIAN      SIGNIFIKAN           30. COMMITMENTS       AND                           SIGNIFICANT
    (lanjutan)                                                    AGREEMENTS (continued)
    Perusahaan (lanjutan)                                        The Company (continued)

         Pada tanggal 20 September 2023, PEP dan                       On September 20, 2023, PEP and the
         Perusahaan menandatangani amandemen                           Company entered into the second amendment
         kedua Perjanjian Jual Beli Gas (PJBG) tentang                 of the Gas Sale and Purchase Agreement
         kelanjutan operasional kilang LPG di                          (GSPA) operation of the LPG refinery in
         Palembang, Sumatera Selatan sampai dengan                     Palembang, South Sumatra until 31 December
         31 Desember 2027 dan Perusahaan berhak                        2027 and the Company has the right to obtain
         memperoleh gas sebanyak 70 MMSCF perhari                      70 MMSCF of gas per day with a total of
         dengan total keseluruhan sebesar 456,81                       456.81 BSCF.
         BSCF.

    b.   Pada tanggal 1 November 2018, Perusahaan                b.    On November 1, 2018, the Company entered
         menandatangani Perjanjian Penjualan Elpiji                    into LPG Sales Agreement with Pertamina,
         dengan Pertamina, dimana Pertamina akan                       wherein the former shall buy LPG to the latter
         membeli Elpiji pada harga yang disepakati.                    at certain agreed price. Based on this
         Berdasarkan perjanjian ini, Perusahaan akan                   agreement, the Company will supply an annual
         memasok LPG tahunan sebesar 68.000 MT.                        quantity of 68,000 MT of LPG.

         Pada tanggal 31 Agustus 2021, PT Pertamina                    On August 31, 2021, PT Pertamina (Persero),
         (Persero), PT Pertamina Patra Niaga (PPN)                     PT Pertamina Patra Niaga (PPN) and the
         dan Perusahaan menandatangani perjanjian                      Company entered into a novation agreement
         novasi atas Jual Beli LPG, dimana PPN akan                    regarding sale and purchase of LPG, whereby
         menggantikan posisi Pertamina (Persero)                       PPN will replace Pertamina (Persero) as a
         sebagai Pihak dalam perjanjian awal.                          Party to the initial agreement.

         Pada tanggal 1 Agustus 2022, Perusahaan                       On August 1, 2022, the Company entered into
         menandatangani Perjanjian Penjualan Elpiji                    LPG Sales Agreement with PT Pertamina
         dengan PT Pertamina Patra Niaga (PPN),                        Patra Niaga (PPN), wherein the former shall
         dimana PPN akan membeli Elpiji pada harga                     buy LPG to the latter at certain agreed price.
         yang disepakati. Berdasarkan perjanjian ini,                  Based on this agreement, the Company will
         Perusahaan akan memasok LPG tahunan                           supply an annual quantity of 62,000 MT of
         sebesar 62.000 MT. Perjanjian ini telah                       LPG. This agreement shall be valid until
         diperpanjang sampai dengan 31 Juli 2027.                      July 31, 2027.

    Enitas Anak                                                  Subsidiaries

    a.   Pada tanggal 13 Maret 2014, PAU                          a.   On March 13, 2014, PAU signed the Gas
         menandatangani Perjanjian Jual Beli Gas                       Sales and Purchase Agreement with Joint
         dengan Joint Operating Body Pertamina                         Operating Body Pertamina Medco Tomori
         Medco Tomori Sulawesi (JOBPMTS), dimana                       Sulawesi (JOBPMTS), whereas JOBPMTS
         JOBPMTS akan menyalurkan gas sebesar 55                       shall supply gas of 55 MMSCFD per day. The
         MMSCFD per hari. Perjanjian tersebut                          agreement amended on January 11, 2018
         diamandemen pada tanggal 11 Januari 2018                      thereby making Daily Contract Quantity
         sehingga membuat Daily Contract Quantity                      ("DCQ") to 62 MMSCFD from 55 MMSCFD
         ("DCQ") menjadi 62 MMSCFD dari 55                             effective start from February 14, 2019 and
         MMSCFD dan berlaku efektif mulai tanggal                      effective until 2027.
         14 Februari 2019 dan berakhir tahun 2027.




                                                         83
Page 326
                                                               The original consolidated financial statements included herein are in
                                                                                                              Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                             PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                            (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                             AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                STATEMENTS
31 Desember 2023 dan 2022                                    December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                          and for the years then ended
pada tanggal tersebut                                        (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


30. KOMITMEN      DAN    PERJANJIAN     SIGNIFIKAN           30. COMMITMENTS       AND                           SIGNIFICANT
    (lanjutan)                                                   AGREEMENTS (continued)

    Enitas Anak (lanjutan)                                      Subsidiaries (continued)

    b.   Pada     tanggal   24  Juni   2015,    PAU              b.   On June 24, 2015, PAU entered into ammonia
         menandatangani perjanjian penjualan amonia                   off take agreement with Genesis Corporation,
         dengan Genesis Corporation, Jepang dimana                    Japan wherein the entire production of
         seluruh amonia yang di produksi harus dibeli                 Ammonia shall be purchase by Genesis on
         oleh Genesis dengan dasar FOB. Perjanjian                    FOB basis. The agreement will effective until
         berlaku hingga 3 Desember 2027.                              December 3, 2027.

         Pada tanggal 26 Januari 2023, PAU dan                        On January 26, 2023, PAU and Genesis
         Genesis      Corporation      menandatangani                 Corporation entered into amendment of the
         amandemen kesepakatan bersama tentang                        joint agreement on aligning the ammonia
         penyelarasan formula harga amonia dengan                     pricing formula with relevant regional price
         indeks harga regional yang relevan.                          index.

    c.   Pada     tanggal    1   Mei    2012,   PAU              c.   On May 1, 2012, PAU signed an agreement
         menandatangani perjanjian jasa layanan yang                  for rendering services related to gas, company
         berkaitan dengan gas, tanggung jawab sosial                  social responsibility and government liaising,
         perusahaan dan hubungan pemerintah dengan                    with PT Mega Consultindo Perdana. The
         PT Mega Consultindo Perdana. Perjanjian                      agreement had been amended and restated
         telah di amandemen dan disajikan kembali                     on October 30, 2015 and effective until
         pada tanggal 30 Oktober 2015 dan berlaku                     December 3, 2027. Fee payable to
         sampai 3 Desember 2027. Biaya yang                            PT Mega Consultindo Perdana for such
         dibayarkan kepada PT Mega Consultindo                        services will be US$ 1,000,000 per annum
         Perdana untuk layanan tersebut sejumlah                      during construction period. After start of
         US$ 1.000.000 per tahun selama periode                       commercial production, management service
         konstruksi. Setelah dimulainya produksi                      fee that will be charged is 2% of PAU’s
         komersial, biaya jasa manajemen yang akan                    EBITDA.
         dibebankan adalah 2% atas EBITDA PAU.


31. RISIKO KONSENTRASI                                       31. CONCENTRATION RISK

    Seperti dijelaskan dalam Catatan 30a , Perusahaan           As described in Note 30a, the Company buys all of
    membeli semua bahan baku dari Pertamina EP,                 its raw materials (raw feed gas) solely from
    Badan Usaha Milik Negara. Dalam Catatan 30a                 Pertamina EP, a State-Owned Enterprise. Note 30a
    dijelaskan juga PAU, entitas anak, membeli bahan            also described that PAU, a subsidiary, buys all raw
    baku gas dari JOBPMTS, yang merupakan satu-                 feed gas from JOBPMTS, which is the sole supplier
    satunya pemasok yang tersedia pada saat ini.                available at the moment. Disruption of supply of
    Gangguan pasokan gas alam mentah dapat                      raw feed gas could cause a delay in manufacturing
    menyebabkan keterlambatan dalam pembuatan                   of LPG, condensate and ammonia, and a possible
    elpiji, kondensat dan amonia, dan kemungkinan               loss in sales, which would adversely affect
    kerugian penjualan, yang akan berdampak buruk               operating results. Further, termination of the
    pada hasil operasi. Selanjutnya, pemutusan                  aforementioned contract with Pertamina EP and/or
    kontrak tersebut dengan Pertamina EP dan/atau               JOBPMTS could result in cessation of the business
    JOBPMTS dapat mengakibatkan penghentian                     of the Company and/or subsidiary.
    bisnis Perusahaan dan/atau entitas anak.




                                                        84
Page 327
                                                                            The original consolidated financial statements included herein are in
                                                                                                                           Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                         PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                        (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                         AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                            NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                            STATEMENTS
31 Desember 2023 dan 2022                                                December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                      and for the years then ended
pada tanggal tersebut                                                    (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


32. ASET DAN LIABILITAS MONETER DALAM                                    32. MONETARY   ASSETS     AND   LIABILITIES
    MATA UANG ASING                                                          DENOMINATED IN FOREIGN CURRENCY

    Pada tanggal 31 Desember 2023 dan 2022, Grup                                 As of December 31, 2023 and 2022, the Group had
    mempunyai aset dan liabilitas moneter dalam mata                             monetary assets and liabilities in currencies other
    uang selain Dollar Amerika Serikat sebagai berikut:                          than U.S. Dollar as follows:
                                                          2023                                 2022

                                Mata uang                           Setara                            Setara
                                  asing/                           dengan/                           dengan/
                                 Foreign        Jumlah/          Equivalent in       Jumlah/       Equivalent in
                                Currencies      Amount               US$             Amount            US$

     Aset                                                                                                           Assets
     Kas dan setara kas            IDR       40.149.414.984         2.604.401 89.065.775.432           5.661.708    Cash and cash equivalents
                                   SGD                  561               425            546                 405
     Piutang lain-lain dari                                                                                         Other receivables
      pihak ketiga                 IDR        5.185.125.352           336.347      1.476.338.619          93.849      from third parties
     Uang jaminan                  IDR          436.426.960            28.310        459.707.013          29.223    Security deposits

     Jumlah aset                                                    2.969.483                          5.785.185    Total assets


                                                          2023                                 2022

                                Mata uang                           Setara                            Setara
                                  asing/                           dengan/                           dengan/
                                 Foreign        Jumlah/          Equivalent in       Jumlah/       Equivalent in
                                Currencies      Amount               US$             Amount            US$

     Liabilitas                                                                                                     Liabilities
     Utang usaha kepada                                                                                             Trade payable
      pihak ketiga                 IDR        3.010.898.960           195.310 16.120.173.456           1.024.739       to third parties
                                   EUR                     -                          29.200              31.022
                                   GBP                   30                38             30                  36
     Beban akrual                  IDR       20.698.924.456         1.342.691 10.035.744.707             637.960    Accrued expenses
                                   EUR                     -                          12.389              13.162
                                   SGD                     -                             333                 247
     Liabilitas sewa               IDR        4.547.704.584           294.999 3.247.996.205              206.471    Lease liabilities

     Jumlah liabilitas                                              1.833.038                          1.913.637    Total liabilities

     Aset (liabilitas) - neto                                       1.136.445                          3.871.548    Net Assets (liabilities)



    Kurs konversi yang digunakan Grup pada tanggal                               The conversion rates used by the Group as of
    31 Desember 2023 dan 2022 adalah sebagai                                     December 31, 2023 and 2022 are as follows:
    berikut:

                                                     2023                        2022

     Mata uang asing                                                                           Foreign currencies
      IDR                                            0,00006487                  0,00006357      IDR
      100 JPY                                        0,70908000                  0,74735649      JPY 100
      SGD                                            0,75783000                  0,74115314      SGD
      AUD                                            0,68120000                  0,67260060      AUD
      EUR                                            1,10380000                  1,06240099      EUR
      GBP                                            1,27300000                  1,20310088      GBP




                                                                    85
Page 328
                                                                                   The original consolidated financial statements included herein are in
                                                                                                                                  Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                             PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                            (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                             AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                                NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                                STATEMENTS
31 Desember 2023 dan 2022                                                    December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                          and for the years then ended
pada tanggal tersebut                                                        (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


33. REKONSILIASI LIABILITAS YANG TIMBUL DARI                                 33. RECONCILIATION OF LIABILITIES ARISING
    AKTIVITAS PENDANAAN                                                          FROM FINANCING ACTIVITIES

    Tabel di bawah ini menjelaskan perubahan dalam                                     The table below details changes in the Group’s
    liabilitas Grup yang timbul dari aktivitas pendanaan,                              liabilities arising from financing activities, including
    termasuk perubahan yang timbul dari arus kas dan                                   both cash and non-cash changes. Liabilities arising
    perubahan non-kas. Liabilitas yang timbul dari                                     from financing activities are those for which cash
    aktivitas pendanaan adalah liabilitas yang arus kas,                               flows were, or future cash flows will be, classified in
    atau arus kas masa depannya, diklasifikasikan                                      the Group’s consolidated statement of cash flows
    dalam laporan arus kas konsolidasian Grup                                          as cash flows from financing activities.
    sebagai arus kas dari aktivitas pendanaan.

                                            Utang bank/        Liabilitas sewa/             Jumlah/
                                            Bank loans         Lease liabilities            Total

    Januari 1, 2022                            472.853.129                671.472                473.524.601       January 1, 2022

    - Penerimaan pinjaman jangka pendek          59.000.000                     -                  59.000.000      - Proceed of short term loan
    - Pembayaran pokok pinjaman                (268.331.970)                    -                (268.331.970)     - Repayments of principal
    - Pembayaran sewa                                     -              (242.998)                   (242.998)     - Repayments of lease

    Nonkas:                                                                                                        Noncash:
    - Koreksi                                             -              (377.903)                     (377.903)   - Correction
    - Penambahan sewa                                     -               163.497                       163.497    - Additional leases
    - Amortisasi biaya transaksi                  5.812.920                     -                     5.812.920    - Amortization of transaction cost
    - Beban bunga akrual                            400.068                14.303                       414.371    - Accrued interest expenses

    31 Desember 2022                           269.734.147                228.371                269.962.518       December 31, 2022

    Arus kas:                                                                                                      Cash-flows:
    - Penerimaan pinjaman jangka pendek          22.000.000                     -                  22.000.000      - Proceed of short term loan
    - Pembayaran pokok pinjaman                (134.480.068)                    -                (134.480.068)     - Repayments of principal
    - Pembayaran sewa                                     -               (81.123)                    (81.123)     - Repayments of lease

    Nonkas:                                                                                                        Noncash:
    - Penambahan sewa                                     -               121.704                       121.704    - Additional leases
    - Amortisasi biaya transaksi                  3.416.531                     -                     3.416.531    - Amortization of transaction cost
    - Beban bunga akrual                            182.993                26.047                       209.040    - Accrued interest expenses

    31 Desember 2023                           160.853.603                294.999                161.148.602       December 31, 2023




34. INSTRUMEN KEUANGAN, MANAJEMEN RISIKO                                     34. FINANCIAL INSTRUMENTS, FINANCIAL RISK
    KEUANGAN DAN RISIKO MODAL                                                    AND CAPITAL RISK MANAGEMENT

    a    Kategori dan kelas instrumen keuangan                                         a.     Categories and             classes        of     financial
                                                                                              instruments

                                           Aset keuangan
                                                 pada              Liabilitas                Derivatif yang
                                           biaya perolehan        pada biaya                digunakan untuk
                                             diamortisasi/       diamortisasi/                lindung nilai/
                                          Financial assets       Liabilities at             Derivatives used
                                          at amortized cost     amortized cost                 for hedging

           31 Desember 2023                                                                                        December 31, 2023

           Aset Keuangan                                                                                           Financial Assets
           Kas dan setara kas                    98.203.795                        -                          -    Cash and cash equivalents
           Investasi pada obligasi                5.000.000                        -                          -    Investment in bonds
           Piutang usaha                         37.590.269                        -                          -    Trade receivables
           Piutang lain-lain                        336.347                        -                          -    Other receivables
           Derivatif yang ditetapkan                                                                               Derivatives designated and
              dan efektif sebagai                                                                                     effective at hedging
              instrumen lindung nilai                     -                        -                  5.028.188       instrument
           Uang jaminan                              28.310                        -                          -    Security deposits



                                                                        86
Page 329
                                                                                The original consolidated financial statements included herein are in
                                                                                                                               Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                          PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                         (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                          AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                             NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                             STATEMENTS
31 Desember 2023 dan 2022                                                 December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                       and for the years then ended
pada tanggal tersebut                                                     (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


34. INSTRUMEN KEUANGAN, MANAJEMEN RISIKO                                  34. FINANCIAL INSTRUMENTS, FINANCIAL RISK
    KEUANGAN DAN RISIKO MODAL (lanjutan)                                      AND CAPITAL RISK MANAGEMENT (continued)

    a    Kategori dan kelas instrumen keuangan                                      b.     Categories and classes                    of   financial
         (lanjutan)                                                                        instruments (continued)

                                        Aset keuangan
                                              pada               Liabilitas                Derivatif yang
                                        biaya perolehan         pada biaya                digunakan untuk
                                          diamortisasi/        diamortisasi/                lindung nilai/
                                       Financial assets        Liabilities at             Derivatives used
                                       at amortized cost      amortized cost                 for hedging

          31 Desember 2023                                                                                       December 31, 2023

          Liabilitas Keuangan                                                                                    Financial Liabilities
          Utang usaha                                  -            11.941.758                               -   Trade payable
          Biaya yang masih harus
            dibayar                                    -             5.118.552                               -   Accrued expenses
          Utang bank                                   -           160.853.603                               -   Bank loan
          Liabilitas sewa                              -               294.999                               -   Lease liabilities

          Jumlah                             141.158.721           178.208.912                    5.028.188      Total

                                         Aset keuangan           Liabilitas                Derivatif yang
                                       Pada biaya perolehan     pada biaya               digunakan untuk
                                          diamortisasi/        diamortisasi/                lindung nilai/
                                        Financial assets       Liabilities at            Derivatives used
                                       At amortized cost      amortized cost                 for hedging

          31 Desember 2022                                                                                       December 31, 2022

          Aset Keuangan                                                                                          Financial Assets
          Kas dan setara kas                 147.519.049                        -                            -   Cash and cash equivalents
          Investasi pada obligasi             10.000.000                        -                            -   Investment in bonds
          Piutang usaha                       61.812.158                        -                            -   Trade receivables
          Piutang lain-lain                       93.849                        -                            -   Other receivables
          Derivatif yang ditetapkan                                                                              Derivatives designated and
             dan efektif sebagai                                                                                    effective at hedging
             instrumen lindung nilai                   -                        -               13.804.784          instrument
          Uang jaminan                            29.223                        -                        -       Security deposits

          Liabilitas Keuangan                                                                                    Financial Liabilities
          Utang usaha                                  -            23.365.481                               -   Trade payable
          Biaya yang masih harus
             dibayar                                   -             4.562.503                               -   Accrued expenses
          Utang bank                                   -           269.734.147                               -   Bank loan
          Liabilitas sewa                              -               228.371                               -   Lease liabilities

          Jumlah                             219.454.279           297.890.502                  13.804.784       Total


    b.   Manajemen risiko modal                                                     b.     Capital risk management

         Grup mengelola modalnya untuk memastikan                                          The Group manages its capital to ensure that it
         mereka dapat mempertahankan kelangsungan                                          will be able to continue as a going concern
         usaha        disamping           memaksimalkan                                    while maximizing the return to stockholders
         pengembalian kepada pemegang saham                                                through the optimization of debt and equity
         melalui optimalisasi saldo liabilitas dan ekuitas.                                balance.

         Struktur modal Grup terdiri dari utang bank                                       The capital structure of the Group consists of
         (Catatan 14) yang saling hapus dengan kas                                         bank loans (Note 14) offset by cash and cash
         dan setara kas (Catatan 5) dan ekuitas                                            equivalents (Note 5) and equity shareholders,
         pemegang saham, terdiri dari modal saham                                          comprising capital stock (Note 19), additional
         (Catatan 19), tambahan modal disetor                                              paid-in capital (Note 20), other comprehensive
         (Catatan 20), penghasilan komprehensif lain,                                      income, retained earnings and non-controlling
         saldo laba dan kepentingan nonpengendali                                          interest (Note 22).
         (Catatan 22).

                                                                     87
Page 330
                                                                     The original consolidated financial statements included herein are in
                                                                                                                    Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                   PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                  (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                   AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                      STATEMENTS
31 Desember 2023 dan 2022                                          December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                and for the years then ended
pada tanggal tersebut                                              (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


34. INSTRUMEN KEUANGAN, MANAJEMEN RISIKO                           34. FINANCIAL INSTRUMENTS, FINANCIAL RISK
    KEUANGAN DAN RISIKO MODAL (lanjutan)                               AND CAPITAL RISK MANAGEMENT (continued)

    b.   Manajemen risiko modal (lanjutan)                            b.     Capital risk management (continued)

         Dewan Direksi Grup secara berkala melakukan                         The Board of Directors of the Group
         penelaahan     struktur  permodalan   Grup.                         periodically reviews the Group's capital
         Sebagai bagian dari penelaahan ini, Dewan                           structure. As part of this review, the board of
         Direksi mempertimbangkan biaya permodalan                           Directors considers the cost of capital and
         dan risiko yang berhubungan.                                        related risk.

         Gearing ratio pada tanggal 31 Desember 2023                         The gearing ratios as of December 31, 2023
         dan 2022 adalah sebagai berikut:                                    and 2022 are as follows:

                                                2023                  2022

          Pinjaman:                                                                Debt:
          Utang bank (Catatan 14)               160.853.603           269.734.147 Bank loans (Note 14)
          Kas dan setara kas (Catatan 5)        (98.203.795)         (147.519.049) Cash and cash equivalents (Note 5)

          Pinjaman – neto                        62.649.808           122.215.098 Debt - net
          Ekuitas                               497.743.641           525.364.100 Equity

          Rasio pinjaman bersih terhadap
            modal                                   12,59%                 23,26% Net debt to equity ratio


    c.   Tujuan dan kebijakan manajemen risiko                        c.     Financial risk management objectives and
         keuangan                                                            policies

         Tujuan dan kebijakan manajemen risiko                               The Group’s overall financial risk management
         keuangan Grup adalah untuk memastikan                               and policies seek to ensure that adequate
         bahwa sumber daya keuangan yang memadai                             financial resources are available for operation
         tersedia untuk operasi dan pengembangan                             and development of their business, while
         bisnis, serta untuk mengelola risiko harga,                         managing their exposure to price risk, foreign
         risiko mata uang asing, risiko tingkat bunga,                       exchange risk, interest rate risk, credit risk and
         risiko kredit dan risiko likuiditas. Grup                           liquidity risk. The Group operates within
         beroperasi dengan pedoman yang telah                                defined guidelines that are approved by the
         ditentukan oleh Dewan Direksi.                                      Board of Directors.

         Dewan Komisaris Grup telah membentuk tim                            The Board of Commissioners of the Group has
         Manajemen Risiko yang bertugas membantu                             appointed a Risk Management team to assist
         Dewan Komisaris Grup menetapkan kebijakan                           the Board of Commissioners in determining
         dan prosedur pengelolaan risiko Grup, serta                         the policy and procedures of the Group’s risk
         memastikan bahwa telah dilakukan penilaian                          management and to ensure that all
         yang mendalam terhadap semua transaksi dan                          transactions and acts taken by the Group with
         tindakan yang dilakukan oleh Grup yang                              risk, have been reviewed profoundly and also
         berpotensi   mengandung       risiko  serta                         to give recommendation on the action taken to
         memberikan rekomendasi mengenai tindakan                            reduce the risk.
         yang perlu diambil untuk mengurangi risiko
         tersebut.

         i. Manajemen risiko harga gas                                       i. Gas price risk management

            Harga gas sangat tidak stabil. Saat ini                             The gas prices are very unstable. Currently,
            terdapat risiko yang tinggi bahwa harga gas                         there is a risk that the gas price will
            akan mengalami fluktuasi yang signifikan.                           fluctuate significantly. The Group might be
            Grup dapat mengalami dampak negatif dari                            negatively impacted by the increase in the
            naiknya harga gas.                                                  gas price.



                                                              88
Page 331
                                                                  The original consolidated financial statements included herein are in
                                                                                                                 Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                               (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                   STATEMENTS
31 Desember 2023 dan 2022                                       December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                             and for the years then ended
pada tanggal tersebut                                           (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


34. INSTRUMEN KEUANGAN, MANAJEMEN RISIKO                        34. FINANCIAL INSTRUMENTS, FINANCIAL RISK
    KEUANGAN DAN RISIKO MODAL (lanjutan)                            AND CAPITAL RISK MANAGEMENT (continued)

    c.   Tujuan dan kebijakan manajemen risiko                     c.    Financial risk management objectives and
         keuangan (lanjutan)                                             policies (continued)

         i. Manajemen risiko harga gas (lanjutan)                        i. Gas price risk management (continued)

            Grup yakin bahwa cara mengelola risiko                           The Group believes that the best way to
            fluktuasi harga gas yang paling baik adalah                      manage the gas price fluctuation is by
            dengan mengelola biaya produksi dan                              managing the production cost and
            optimisasi operasi kilang.                                       optimizing the operation of the plant.

         ii. Manajemen risiko mata uang asing                            ii. Foreign exchange risk management

            Mata uang fungsional Grup adalah Dolar                           The Group’s functional currency is U.S.
            Amerika Serikat dan eksposur mata uang                           Dollar and its exchange rate exposure
            Grup sebagian besar timbul dari transaksi                        arises     mainly   from    transactions
            yang didenominasi dalam Rupiah terutama                          denominated in Rupiah, which are mainly
            untuk beban operasional. Walaupun                                the operating expenses. However, the
            demikian, beban operasi Grup yang                                Group’s operating expenses which are
            transaksinya dalam mata uang Rupiah                              transacted   in   Rupiah   currency    is
            adalah tidak material.                                           immaterial.

         iii. Manajemen risiko tingkat suku bunga                        iii. Interest rate risk management

            Eksposur risiko tingkat bunga berhubungan                        The interest rate risk exposure relates to
            dengan jumlah aset atau liabilitas dimana                        the amount of assets or liabilities which are
            pergerakan pada tingkat suku bunga dapat                         subject to a risk that a movement in interest
            mempengaruhi       laba    setelah   pajak.                      rates will adversely affect the profit after
            Sebagaimana dijelaskan di Catatan 12,                            tax. As disclosed in Note 12, in order to
            untuk mengatasi risiko suku bunga, Grup                          manage interest rate risk, the Group
            melakukan interest swap. Risiko pada                             entered into an interest rate swap. The risk
            pendapatan bunga bersifat terbatas di                            on interest rate is limited to the rest of the
            dalam Grup karena Grup hanya bermaksud                           group as the Group only intends to keep
            untuk menjaga saldo kas yang cukup untuk                         sufficient   cash      balances    to    meet
            memenuhi kebutuhan operasional. Grup                             operational needs. The Group has a policy
            memiliki kebijakan dalam memperoleh                              of obtaining financing that would provide
            pembiayaan yang akan memberikan tingkat                          reasonable interest rate. Approvals from
            suku    bunga      yang    menguntungkan.                        the Board of Directors and Commissioners
            Persetujuan dari Dewan Direksi dan                               must be obtained before committing the
            Komisaris harus diperoleh sebelum Grup                           Company and its subsidiaries to any of the
            menggunakan         instrumen     keuangan                       instruments to manage the interest rate risk
            tersebut untuk mengelola eksposur risiko                         exposure.
            suku bunga.

            Eksposur risiko tingkat bunga Grup pada                          The Group’s exposure to interest rates on
            aset keuangan dan liabilitas keuangan                            financial assets and financial liabilities are
            dijelaskan dalam tabel risiko likuiditas (v)                     detailed in the liquidity risk table in (v)
            dibawah.                                                         below.

         iv. Manajemen risiko kredit                                     iv. Credit risk management

            Risiko kredit merujuk pada risiko kegagalan                      Credit risk refers to the risk that a
            pihak kedua dalam memenuhi liabilitas                            counterparty will default on its contractual
            kontraktualnya     yang      mengakibatkan                       obligation resulting in a loss to the Group.
            kerugian bagi Grup.



                                                           89
Page 332
                                                                The original consolidated financial statements included herein are in
                                                                                                               Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                              PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                             (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                              AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                 NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                 STATEMENTS
31 Desember 2023 dan 2022                                     December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                           and for the years then ended
pada tanggal tersebut                                         (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


34. INSTRUMEN KEUANGAN, MANAJEMEN RISIKO                      34. FINANCIAL INSTRUMENTS, FINANCIAL RISK
    KEUANGAN DAN RISIKO MODAL (lanjutan)                          AND CAPITAL RISK MANAGEMENT (continued)

    c.   Tujuan dan kebijakan manajemen risiko                   c.    Financial risk management objectives and
         keuangan (lanjutan)                                           policies (continued)

         iv. Manajemen risiko kredit (lanjutan)                        iv. Credit risk management (continued)

            Risiko kredit Grup terutama melekat pada                       The Group’s credit risk is primarily
            kas dan setara kas dan piutang usaha dan                       attributable to its cash and cash
            piutang lain-lain. Grup menempatkan kas                        equivalents    and     trade  and    other
            dan setara kas pada institusi keuangan                         receivables. The Group places its cash and
            yang terpercaya, sedangkan piutang usaha                       cash equivalents with reputable financial
            dan piutang lain-lain diberikan kepada                         institutions, while trade and other
            pihak-pihak yang layak dan terpercaya.                         receivable are entered into with respected
                                                                           and credit worthy parties.

            Nilai tercatat aset keuangan pada laporan                      The carrying amount of financial assets
            keuangan konsolidasian dikurangi dengan                        recorded in the consolidated financial
            cadangan untuk kerugian mencerminkan                           statements, net of any allowance for losses,
            eksposur Grup terhadap risiko kredit.                          represents the Group’s exposure to credit
                                                                           risk.

            Pelanggan Grup terkonsentrasi pada                             The Group’s customer base is concentrated
            industri pertambangan, minyak dan gas                          in the mining, oil and gas and
            dan petrokimia. Pada 31 Desember 2023,                         petrochemical industries. As of December
            dua pelanggan Grup memiliki kontribusi                         31, 2023, two customers accounted for
            100% dari jumlah penjualan. Manajemen                          100% of the total sales. Management
            berkeyakinan bahwa risiko kredit terbatas                      believes that the credit risk is limited as the
            karena pelanggan Grup adalah badan                             Group’s customers are state-owned
            usaha milik negara dan grup internasional,                     enterprises and international group, and the
            dan Grup tidak pernah mengalami kesulitan                      Group did not experience any difficulties in
            dalam menagih piutangnya.                                      collecting its receivables.

         v. Manajemen risiko likuiditas                                v. Liquidity risk management

            Tanggung jawab utama untuk manajemen                           The ultimate responsibility for liquidity risk
            risiko likuiditas bertumpu pada Dewan                          management rests with the Board of
            Direksi yang telah membangun kerangka                          Directors, which has built an appropriate
            manajemen risiko likuiditas yang sesuai                        liquidity risk management framework for the
            untuk manajemen pendanaan jangka                               management of the Group’s short, medium
            pendek, menengah dan jangka panjang                            and long-term funding and liquidity
            dan manajemen kebutuhan likuiditas. Grup                       management requirements. The Group
            mengelola risiko likuiditas dengan menjaga                     manages liquidity risk by maintaining
            kecukupan simpanan, fasilitas bank dan                         adequate reserves, banking facilities and
            fasilitas pinjaman cadangan dengan terus                       reserve borrowing facilities by continuously
            menerus memonitor perkiraan dan arus kas                       monitoring forecast and actual cash flows
            aktual dan menyesuaikan profil jatuh tempo                     and matching the maturity profiles of
            aset dan liabilitas keuangan.                                  financial assets and liabilities.

            Grup menjaga kecukupan dana untuk                              The Group maintains sufficient funds to
            membiayai kebutuhan modal kerja, dimana                        finance its ongoing working capital
            dana tersebut ditempatkan dalam bentuk                         requirements, which are placed in cash and
            kas dan setara kas.                                            cash equivalents.




                                                         90
Page 333
                                                                                             The original consolidated financial statements included herein are in
                                                                                                                                            Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                                           PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                                          (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                                           AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                                              STATEMENTS
31 Desember 2023 dan 2022                                                                  December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                                        and for the years then ended
pada tanggal tersebut                                                                      (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


34. INSTRUMEN KEUANGAN, MANAJEMEN RISIKO                                                   34. FINANCIAL INSTRUMENTS, FINANCIAL RISK
    KEUANGAN DAN RISIKO MODAL (lanjutan)                                                       AND CAPITAL RISK MANAGEMENT (continued)

    c.   Tujuan dan kebijakan manajemen risiko                                                c.     Financial risk management objectives and
         keuangan (lanjutan)                                                                         policies (continued)

         v. Manajemen risiko likuiditas (lanjutan)                                                   v. Liquidity risk management (continued)

            Tabel risiko likuiditas dan suku bunga                                                            Liquidity and interest risk tables

            Tabel berikut merinci sisa jatuh tempo                                                            The following tables detail the Group's
            kontrak untuk liabilitas keuangan non                                                             remaining contractual maturity for its non
            derivatif dengan periode pembayaran yang                                                          derivative financial liabilities with agreed
            disepakati Grup. Tabel telah dibuat                                                               repayment periods. The tables have been
            berdasarkan     arus   kas   yang    tidak                                                        drawn up based on the undiscounted cash
            didiskontokan dari liabilitas keuangan                                                            flows of financial liabilities based on the
            berdasarkan tanggal terawal dimana Grup                                                           earliest date on which the Group can be
            dapat diminta untuk membayar. Tabel                                                               required to pay. The tables include both
            mencakup arus kas bunga dan pokok.                                                                interest and principal cash flows. To the
            Untuk arus bunga adalah mengambang,                                                               extent that interest flows are floating rate,
            jumlah tidak didiskontokan berasal dari                                                           the undiscounted amount is derived from
            kurva suku bunga pada akhir periode                                                               interest rate curves at the end of the
            pelaporan. Jatuh tempo kontrak didasarkan                                                         reporting period. The contractual maturity is
            pada tanggal terawal di mana Grup akan                                                            based on the earliest date on which the
            diminta untuk membayar.                                                                           Group may be required to pay.
                                     Kurang dari 1                        3 bulan sampai                         Lebih dari
                                        bulan/                               1 tahun/                             5 tahun/
                                      Less than          1-3 bulan/       3 months to 1      1-5 tahun/          More than        Jumlah/
                                       1 month          1-3 months             year          1-5 years            5 years          Total
            31 Desember 2023                                                                                                                    December 31, 2023
            Tanpa bunga                                                                                                                         Non-interest bearing
                Utang usaha kepada                                                                                                                 Trade payable to
                    pihak ketiga                    -    11.941.758                    -               -                      -    11.941.758          third parties
                Provisi                             -             -                    -       1.197.452                      -     1.197.452      Provision
                Biaya masih harus dibayar           -     5.118.555                    -               -                      -     5.118.558   Accrued expenses
            Instrumen suku bunga                                                                                                                Variable interest rate
                variabel                                                                                                                           instruments
                Utang bank*                         -    26.625.994          89.842.500       44.385.109                      -   160.853.603      Bank loans*
            Liabilitas sewa*                        -             -             226.837           68.162                      -       294.999   Lease liabilities*

            Jumlah                                  -    43.686.307          90.069.337       45.650.723                      -   179.406.367   Total



                                     Kurang dari 1                        3 bulan sampai                         Lebih dari
                                        bulan/                               1 tahun/                             5 tahun/
                                      Less than          1-3 bulan/       3 months to 1      1-5 tahun/          More than        Jumlah/
                                       1 month          1-3 months             year          1-5 years            5 years          Total
            31 Desember 2022                                                                                                                    December 31, 2022
            Tanpa bunga                                                                                                                         Non-interest bearing
                Utang usaha kepada                                                                                                                 Trade payable to
                    pihak ketiga          1.138.628      21.710.909            515.944                 -                      -    23.365.481          third parties
                    pihak berelasi                -               -                  -                 -                      -                        related parties
                Provisi                           -               -                  -         1.289.090                      -     1.289.090      Provision
                Biaya masih harus dibayar         -       4.562.503                  -                                        -     4.562.503      Accrued expenses
            Instrumen suku bunga                                                                                                                Variable interest rate
                variabel                                                                                                                           instruments
                Utang bank*                       -      23.170.068          94.743.000      150.821.079                      -   268.734.147      Bank loans*
            Liabilitas sewa*                      -               -              82.160          146.211                      -       228.371   Lease liabilities*
            Instrumen suku bunga                                                                                                                Fixed interest rate
                tetap                                                                                                                              instruments
                Utang bank*               1.000.000                   -                -                  -                   -     1.000.000      Bank loans*
            Jumlah                          2.138.628    49.443.480          95.341.104      152.256.380                      -   299.179.592   Total



            *) Grup menggunakan suku bunga tahunan pada                                                       *) The Group uses annual interest rates as of
               31 Desember 2023 dan 2022 sebesar 6,22% -                                                         December 31, 2023 and 2022 amounting to 6.22% -
               10,56%                                                                                            10.56%




                                                                                  91
Page 334
                                                                                            The original consolidated financial statements included herein are in
                                                                                                                                           Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                                        PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                                       (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                                        AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                                           STATEMENTS
31 Desember 2023 dan 2022                                                               December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                                     and for the years then ended
pada tanggal tersebut                                                                   (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


34. INSTRUMEN KEUANGAN, MANAJEMEN RISIKO                                                34. FINANCIAL INSTRUMENTS, FINANCIAL RISK
    KEUANGAN DAN RISIKO MODAL (lanjutan)                                                    AND CAPITAL RISK MANAGEMENT (continued)

    c.   Tujuan dan kebijakan manajemen risiko                                                c.       Financial risk management objectives and
         keuangan (lanjutan)                                                                           policies (continued)

         v. Manajemen risiko likuiditas (lanjutan)                                                     v. Liquidity risk management (continued)

             Tabel risiko likuiditas dan suku bunga                                                        Liquidity   and           interest      risk      tables
             (lanjutan)                                                                                    (continued)

             Tabel berikut merinci ekspektasi jatuh                                                        The following table details the Company's
             tempo untuk aset keuangan non-derivatif                                                       expected maturity for its non-derivative
             Perusahaan. Tabel tersebut telah disusun                                                      financial assets. The table has drawn up
             berdasarkan jatuh tempo kontrak tidak                                                         based on the undiscounted contractual
             terdiskonto dari aset keuangan termasuk                                                       maturities of the financial assets including
             bunga yang akan diperoleh dari aset                                                           interest that will be earn on those assets.
             tersebut. Dicantumkannya informasi aset                                                       The inclusion of information on non-
             keuangan non-derivatif diperlukan dalam                                                       derivative financial assets is necessary in
             rangka untuk memahami manajemen                                                               order to understand the Group's liquidity
             risiko likuiditas Grup dimana likuiditas                                                      risk management as the liquidity managed
             dikelola berdasarkan aset dan liabilitas                                                      on a net asset and liability basis.
             bersih.
                                           Kurang dari                                 3 bulan sampai
                                             1 bulan/                                     1 tahun/
                                            Less than             1-3 bulan/            3 months to       1-5 tahun/       Jumlah/
                                             1 month             1-3 months                1 year         1-5 years         Total

              31 Desember 2023                                                                                                           December 31, 2023
              Suku bunga mengambang                                                                                                      Floating rate
                 Kas dan setara kas          68.703.795            29.500.000                      -                   -    98.203.795      Cash and cash equivalents

              Suku bunga tetap                                                                                                           Fixed rate
                 Investasi pada obligasi      5.000.000                                            -                   -     5.000.000       Investment in bonds

              Tanpa bunga                                                                                                                Non-interest bearing
                 Piutang usaha                           -         37.590.269                      -                -       37.590.269     Trade receivables
                 Piutang lain-lain                       -            336.347                      -                -          336.347     Other receivables
                 Uang jaminan                            -                  -                      -           28.310           28.310     Security deposits

              Jumlah                         73.703.795            67.426.616                      -           28.310      141.158.721   Total



                                           Kurang dari                                 3 bulan sampai
                                             1 bulan/                                     1 tahun/
                                            Less than             1-3 bulan/            3 months to       1-5 tahun/       Jumlah/
                                             1 month             1-3 months                1 year         1-5 years         Total

              31 Desember 2022                                                                                                           December 31, 2022
              Suku bunga mengambang                                                                                                      Floating rate
                 Kas dan setara kas         147.519.049                        -                   -                   -   147.519.049      Cash and cash equivalents

              Suku bunga tetap                                                                                                           Fixed rate
                 Investasi pada obligasi                     -                     -       5.000.000        5.000.000       10.000.000       Investment in bonds

              Tanpa bunga                                                                                                                Non-interest bearing
                 Piutang usaha                           -         61.812.158                      -                -       61.812.158     Trade receivables
                 Piutang lain-lain                       -             93.849                      -                -           93.849     Other receivables
                 Uang jaminan                            -                  -                      -           29.223           29.223     Security deposits

              Jumlah                        147.519.049            61.906.007              5.000.000        5.029.223      219.454.279   Total




                                                                               92
Page 335
                                                                          The original consolidated financial statements included herein are in
                                                                                                                         Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                      PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                     (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                      AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                         NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                         STATEMENTS
31 Desember 2023 dan 2022                                             December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                   and for the years then ended
pada tanggal tersebut                                                 (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


34. INSTRUMEN KEUANGAN, MANAJEMEN RISIKO                              34. FINANCIAL INSTRUMENTS, FINANCIAL RISK
    KEUANGAN DAN RISIKO MODAL (lanjutan)                                  AND CAPITAL RISK MANAGEMENT (continued)

    d.   Pengukuran Nilai Wajar                                            d.    Fair value Measurements

         Nilai wajar instrumen keuangan yang dicatat                             Fair value of financial instruments carried at
         pada biaya perolehan diamortisasi                                       amortized cost

         Manajemen berpendapat bahwa nilai tercatat                              Management considers that the carrying
         aset dan liabilitas keuangan yang dicatat                               amounts of financial assets and financial
         dalam laporan keuangan konsolidasian                                    liabilities recognized in the consolidated
         mendekati nilai wajarnya baik karena                                    financial statements approximate their fair
         mempunyai jatuh tempo jangka pendek atau                                values either because of their short-term
         memiliki tingkat suku bunga pasar.                                      maturities or they carry market rates of
                                                                                 interest.

         Pengukuran nilai wajar diakui dalam laporan                             Fair value measurement hierarchy of the
         posisi keuangan konsolidasian                                           Group’s assets and liabilities

         Tabel berikut ini merangkum nilai tercatat dan                          The following tables summarize the carrying
         nilai wajar aset dan liabilitas, yang dianalisis                        amounts and fair values of the assets and
         antara keduanya serta nilai wajar didasarkan                            liabilities, analyzed among those whose fair
         pada:                                                                   value is based on:

            Pengukuran nilai wajar Level 1 adalah                                    Level 1 fair value measurements are those
             yang berasal dari harga kuotasian (tanpa                                  derived from quoted prices(unadjusted) in
             penyesuaian) di pasar aktif untuk aset                                    active markets for identical assets or
             atau liabilitas yang identik;                                             liabilities;

            Pengukuran nilai wajar Level 2 adalah                                    Level 2 fair value measurements are those
             yang berasal dari input selain harga                                      derived from inputs other than quoted
             kuotasian yang termasuk dalam Level 1                                     prices included within Level 1 that are
             yang dapat diobservasi untuk aset atau                                    observable for the asset or liability, either
             liabilitas, baik secara langsung (misalnya                                directly (i.e. as prices) or indirectly (i.e.
             harga) atau secara tidak langsung                                         derived from prices); and
             (misalnya deviasi dari harga); dan

            Pengukuran nilai wajar Level 3 adalah                                    Level 3 fair value measurements are those
             yang berasal dari teknik penilaian yang                                   derived from valuation techniques that
             mencakup input untuk aset atau liabilitas                                 include inputs for the asset or liability that
             yang bukan berdasarkan data pasar yang                                    are not based on observable market data
             dapat diobservasi (input yang tidak dapat                                 (unobservable inputs).
             diobservasi).
                                                                                                     Jumlah/
                                          Level 1           Level 2              Level 3              Total

             31 Desember 2023                                                                                       December 31, 2023

             Aset yang nilai wajarnya                                                                               Assets for which fair
               diukur                                                                                                  values are measured
             Bangunan                               -         9.306.164                     -          9.306.164    Building
             Pabrik elpiji, mesin dan                                                                               LPG plant, machinery and
               peralatan                            -        24.785.377                     -         24.785.377       equipment
             Aset derivatif                         -         5.028.188                     -          5.028.188    Derivatives assets

             Jumlah                                 -        39.119.729                     -         39.119.729    Total




                                                               93
Page 336
                                                                                   The original consolidated financial statements included herein are in
                                                                                                                                  Indonesian language.

PT ESSA INDUSTRIES INDONESIA TBK                                               PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                              (formerly PT SURYA ESA PERKASA TBK)
DAN ENTITAS ANAK                                                               AND SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN                                                  NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                                  STATEMENTS
31 Desember 2023 dan 2022                                                      December 31, 2023 and 2022
dan untuk tahun-tahun yang berakhir                                            and for the years then ended
pada tanggal tersebut                                                          (Expressed in US Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)


34. INSTRUMEN KEUANGAN, MANAJEMEN RISIKO                                       34. FINANCIAL INSTRUMENTS, FINANCIAL RISK
    KEUANGAN DAN RISIKO MODAL (lanjutan)                                           AND CAPITAL RISK MANAGEMENT (continued)

    d.   Pengukuran Nilai Wajar (lanjutan)                                          d.    Fair value Measurements (continued)

         Pengukuran nilai wajar diakui dalam laporan                                      Fair value measurement hierarchy of the
         posisi keuangan konsolidasian (lanjutan)                                         Group’s assets and liabilities (continued)

                                                                                                                Jumlah/
                                                 Level 1             Level 2              Level 3                Total

               31 Desember 2022                                                                                                December 31, 2022

               Aset yang nilai wajarnya                                                                                        Assets for which fair
                 diukur                                                                                                           values are measured
               Bangunan                                      -         7.795.695                      -           7.795.695    Building
               Pabrik elpiji, mesin dan                                                                                        LPG plant, machinery and
                 peralatan                                   -        21.234.965                      -          21.234.965       equipment
               Aset derivatif                                -        13.804.784                      -          13.804.784    Derivatives assets

               Jumlah                                        -        42.835.444                      -          42.835.444    Total




34. REKLASIFIKASI AKUN                                                         34. RECLASSIFICATION OF ACCOUNT

    Grup mereklasifikasi akun dalam laporan keuangan                                The Group have reclassified account for the
    untuk        tahun          yang         berakhir                               financial statements for the year ended December
     31 Desember 2022 agar sesuai dengan penyajian                                  31, 2022 to conform with the presentation of the
    laporan keuangan untuk tahun yang berakhir                                      financial statements for the year ended
    31 Desember 2023.                                                               December 31, 2023.

                                             Sebelum                                           Setelah
                                           reklasifikasi/                                   reklasifikasi/
                                              Before              Reklasifikasi/                After
                                          reclasification        Reclasification           reclasification

    Derivatif aset jangka pendek                        -             11.457.083                11.457.083        Derrivative asset short term
    Derivatif aset jangka panjang              13.804.784            (11.457.083 )               2.347.701        Derrivative asset long term
    Penghasilan keuangan                        1.094.066               (107.191 )                 986.875        Finance income
    Keuntungan dan kerugian
      lain-lain – neto                           4.991.450               107.191                    5.098.641     Other gains and losses - net


35. INFORMASI TAMBAHAN                                                         35. SUPPLEMENTARY INFORMATION

    Informasi keuangan tersendiri Entitas Induk hanya                               The financial information of the Parent Entity only
    menyajikan informasi laporan posisi keuangan,                                   comprises statement of financial position,
    laporan laba rugi dan penghasilan komprehensif                                  statement of profit or loss and other comprehensive
    lain, laporan perubahan ekuitas, laporan arus kas                               income, statement of changes in equity, statement
    dan catatan investasi dalam entitas anak.                                       of cash flows and note on investment in
                                                                                    subsidiaries.

    Informasi keuangan tersendiri Entitas Induk                                     Financial information of the Parent Entity only, was
    disajikan pada halaman 95 sampai dengan 99.                                     presented on pages 95 to 99. These Parent Entity
    Informasi keuangan tersendiri Entitas Induk                                     only financial information follow the accounting
    mengikuti kebijakan akuntansi yang digunakan                                    policies used in the preparation of the consolidated
    dalam      penyusunan       laporan      keuangan                               financial statements that are described in Note 3,
    konsolidasian seperti yang dijelaskan di Catatan 3,                             except for the investment in subsidiaries which are
    kecuali untuk investasi pada entitas anak yang                                  accounted for using the cost method.
    dicatat menggunakan metode biaya.




                                                                        94
Page 337
                                                                The original financial statements included herein are in Indonesian
                                                                                                                          language.

PT ESSA INDUSTRIES INDONESIA TBK                            PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                           (formerly PT SURYA ESA PERKASA TBK)
(ENTITAS INDUK SAJA)                                        (PARENT ENTITY ONLY)
INFORMASI TAMBAHAN                                          SUPPLEMENTARY INFORMATION
LAPORAN POSISI KEUANGAN                                     STATEMENTS OF FINANCIAL POSITION OF
ENTITAS INDUK                                               PARENT ENTITY
Tanggal 31 Desember 2023 dan 2022                           As of December 31, 2023 and 2022
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)         (Expressed in US Dollar, unless otherwise stated)


                                              2023             2022

 ASET                                                                          ASSETS
 ASET LANCAR                                                                   CURRENT ASSETS
 Kas dan setara kas                            12.430.199       29.170.152     Cash and cash equivalents
 Investasi pada obligasi                        5.000.000        5.000.000     Investment in bonds
 Piutang usaha                                  7.919.549        3.824.062     Trade receivables
 Piutang lain-lain                                185.268           33.013     Other receivables
 Persediaan                                     1.114.848        1.181.811     Inventories
 Pajak dibayar dimuka                           1.304.728          578.962     Prepaid taxes
 Biaya dibayar dimuka dan uang muka               434.325          224.125     Prepayments and advances
 Aset lainnya                                     198.965          500.934     Other asset

 Jumlah Aset Lancar                            28.587.882       40.513.059 Total Current Assets

 ASET TIDAK LANCAR                                                         NON-CURRENT ASSETS
 Investasi pada obligasi                                -        5.000.000 Investment in bonds
 Investasi pada entitas anak                  279.106.578      167.926.578 Investments in subsidiaries
 Aset tetap - setelah dikurangi akumulasi               -                  Property, plant and equipment - net of
  penyusutan sebesar US$ 1.064.329                                            accumulated depreciation of
  pada 31 Desember 2023 dan                                                   US$ 1,064,329 at December 31, 2023
  US$ 9.450.687 pada                                                          and US$ 9,450,687
  31 Desember 2022                             32.889.172       27.571.100    at December 31, 2022
 Aset pajak tangguhan                                   -           38.472 Deferred tax asset

 Jumlah Aset Tidak Lancar                     311.995.750      200.536.150 Total Non-current Assets
 JUMLAH ASET                                  340.583.632      241.049.209 TOTAL ASSETS

 LIABILITAS DAN EKUITAS                                                        LIABILITIES AND EQUITY
 LIABILITAS JANGKA PENDEK                                                      CURRENT LIABILITIES
 Utang usaha                                      188.389        1.281.095     Trade payables
 Utang pajak                                    1.015.629        1.027.597     Taxes payables
 Biaya masih harus dibayar                      2.268.353        1.791.265     Accrued expenses
 Utang bank                                             -        1.000.000     Bank loan
 Liabilitas jangka panjang yang                                                Current maturity
  jatuh tempo dalam satu tahun                                                   of long term liabilities
  Liabilitas sewa                                 80.360              50.792     Lease liabilities
 Jumlah Liabilitas Jangka Pendek                3.552.731        5.150.749 Total Current Liabilities

 LIABILITAS JANGKA PANJANG                                                     NON-CURRENT LIABILITIES
 Liabilitas jangka panjang - setelah
  dikurangi bagian yang jatuh                                               Long-term liabilities – net of
  tempo dalam satu tahun                                                      net of current maturity
  Liabilitas sewa                                 163.927           112.705   Lease liabilities
 Liabilitas imbalan kerja                       1.198.718           907.465 Employee benefits liability
 Liabilitas pajak tangguhan                       839.371                 - Deferred tax liability

 Jumlah Liabilitas Jangka Panjang               2.202.016        1.020.170 Total Non-current Liabilities


 EKUITAS                                                                       EQUITY
 Modal saham - nilai nominal Rp 10                                             Capital stock - par value of Rp 10
  per lembar saham                                                               per share
  Modal dasar - 22.000.000.000 lembar saham                                      Authorized - 22,000,000,000 shares
  Modal ditempatkan dan disetor –                                                Subscribed and paid-up
    17.226.975.700 lembar saham                                                     17,226,975,700 shares at
    pada 31 Desember 2023                                                           December 31, 2023 and
    dan 15.660.887.000 lembar saham                                                 15,660,887,000 shares at
    pada 31 Desember 2022                      16.441.246       15.405.610          December 31, 2022
 Tambahan modal disetor                       195.970.248       90.902.649     Additional paid-in capital
 Penghasilan komprehensif lain                 23.381.215       16.700.780     Other comprehensive income
 Saldo laba                                    99.036.175      111.869.251     Retained earnings

 Jumlah Ekuitas                               334.828.884      234.878.290 Total Equity

 JUMLAH LIABILITAS DAN EKUITAS                340.583.631      241.049.209 TOTAL LIABILITIES AND EQUITY


                                                       95
Page 338
                                                                   The original financial statements included herein are in Indonesian
                                                                                                                             language.


PT ESSA INDUSTRIES INDONESIA TBK                               PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                              (formerly PT SURYA ESA PERKASA TBK)
(ENTITAS INDUK SAJA)                                           (PARENT ENTITY ONLY)
INFORMASI TAMBAHAN                                             SUPPLEMENTARY INFORMATION
LAPORAN LABA RUGI DAN PENGHASILAN                              STATEMENTS OF PROFIT OR LOSS AND OTHER
KOMPREHENSIF LAIN ENTITAS INDUK                                COMPREHENSIVE INCOME OF PARENT ENTITY
Untuk tahun yang berakhir pada tanggal                         For the years ended
31 Desember 2023 dan 2022                                      December 31, 2023 and 2022
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)            (Expressed in US Dollar, unless otherwise stated)



                                                2023              2022

 PENDAPATAN                                     45.278.352         50.122.420 REVENUES

 BEBAN POKOK PENDAPATAN                         (28.778.674)      (25.157.902) COST OF REVENUES

 LABA KOTOR                                     16.499.678         24.964.518 GROSS PROFIT

 Beban penjualan                                  (115.542)            (32.224) Selling expenses
 Beban umum dan administrasi                    (7.245.836)         (6.605.623) General and administrative expenses
 Beban keuangan                                   (290.670)           (247.198) Finance costs
 Pendapatan dividen                             29.767.991                   - Dividend income
 Penghasilan keuangan                              930.618             701.496 Finance income
 Keuntungan (kerugian) lain-lain – neto            114.004             652.024 Other gains (loss) - net

 LABA SEBELUM PAJAK PENGHASILAN                 39.660.243         19.432.993 PROFIT BEFORE INCOME TAX

 BEBAN PAJAK – NETO                              (3.512.272)        (3.552.990) INCOME TAX EXPENSE - NET

 LABA BERSIH TAHUN BERJALAN                     36.147.971         15.880.003 NET PROFIT FOR THE YEAR

 PENGHASILAN KOMPREHENSIF LAIN                                                  OTHER COMPREHENSIVE INCOME
 TAHUN BERJALAN                                                                 FOR THE YEAR
                                                                                Item that will not be reclassified to
 Pos yang tidak direklasifikasi ke laba rugi:                                      profit or loss:
                                                                                   Revaluation surplus of
  Surplus revaluasi aset tetap                   9.261.782                   -         property, plant and equipment
  Pengukuran kembali kewajiban                                                     Remeasurement of defined benefits
    imbalan pasti                                  120.771            (131.047)       obligation
  Beban pajak terkait pos-pos                                                      Income tax expense relating to
    yang tidak direklasifikasi di masa                                                items that will not be reclassified
    datang                                          (26.570)            28.830        subsequently

 Jumlah penghasilan (rugi) komprehensif                                           Total other comprehensive income
  lain tahun berjalan setelah pajak              9.355.983            (102.217)     (loss) for the year, net of tax

 JUMLAH LABA KOMPREHENSIF                                                     TOTAL COMPREHENSIVE INCOME
 TAHUN BERJALAN                                 45.503.954         15.777.786 FOR THE YEAR




                                                         96
Page 339
                                                                                       The original financial statements included herein are in Indonesian
                                                                                                                                                 language.

PT ESSA INDUSTRIES INDONESIA TBK                                                PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                                               (formerly PT SURYA ESA PERKASA TBK)
(ENTITAS INDUK SAJA)                                                            (PARENT ENTITY ONLY)
INFORMASI TAMBAHAN                                                              SUPPLEMENTARY INFORMATION
LAPORAN PERUBAHAN EKUITAS ENTITAS INDUK                                         STATEMENTS OF CHANGES IN EQUITY OF
Untuk tahun yang berakhir pada tanggal                                          PARENT ENTITY
31 Desember 2023 dan 2022                                                       For the years ended December 31, 2023 and 2022
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)                             (Expressed in US Dollar, unless otherwise stated)



                                                                       Penghasilan
                                      Modal             Tambahan       komprehensif
                                     disetor/          modal disetor/   lain/ Other  Saldo laba/
                                     Paid-up            Additional     comprehensive Retained           Jumlah ekuitas/
                                   capital stock       paid-in capital    income      earnings           Total equity

                                                                                                                          Balance as of
 Saldo per 1 Januari 2022             15.405.610         90.902.649     19.290.143        98.885.827      224.484.229       January 1, 2022

 Jumlah penghasilan komprehensif                                                                                          Total comprehensive income
    tahun berjalan                                 -              -       (102.217)       15.880.003       15.777.786       for the year

 Dividen                                           -              -               -       (5.383.725)       (5.383.725) Dividend

                                                                                                                          Reclassification of the
 Reklasifikasi cadangan                                                                                                     revaluation
     revaluasi dari penghasilan                                                                                             reserve from other
     komprehensif lain ke                                                                                                   comprehensive income to
     saldo laba                                    -              -      (2.487.146)       2.487.146                  -     retained earnings

                                                                                                                          Balance as of
 Saldo per 31 Desember 2022           15.405.610         90.902.649     16.700.780      111.869.251       234.878.290       December 31, 2022

 Penerbitan saham baru                 1.035.636        105.117.050               -                 -     106.152.686     Issuance of new shares

 Biaya emisi saham                                          (49.451)              -                 -          (49.451) Share issuance cost

 Jumlah penghasilan komprehensif                                                                                          Total comprehensive income
    tahun berjalan                                 -              -        (94.201)       36.147.971       36.053.770       for the year

 Dividen                                           -              -               -      (51.468.193)     (51.468.193) Dividend

 Surplus revaluasi                                 -              -      9.261.782                  -       9.261.782     Revaluation surplus

                                                                                                                          Reclassification of the
 Reklasifikasi cadangan                                                                                                     revaluation
     revaluasi dari penghasilan                                                                                             reserve from other
     komprehensif lain ke                                                                                                   comprehensive income to
     saldo laba                                    -              -      (2.487.146)       2.487.146                  -     retained earnings

                                                                                                                          Balance as of
 Saldo per 31 Desember 2023           16.441.246        195.970.248     23.381.215        99.036.175      334.828.884       December 31, 2023




                                                                         97
Page 340
                                                                 The original financial statements included herein are in Indonesian
                                                                                                                           language.

PT ESSA INDUSTRIES INDONESIA TBK                              PT ESSA INDUSTRIES INDONESIA TBK
(dahulu PT SURYA ESA PERKASA TBK)                             (formerly PT SURYA ESA PERKASA TBK)
(ENTITAS INDUK SAJA)                                          (PARENT ENTITY ONLY)
INFORMASI TAMBAHAN                                            SUPPLEMENTARY INFORMATION
LAPORAN ARUS KAS ENTITAS INDUK                                STATEMENT OF CASH FLOWS OF PARENT ENTITY
Untuk tahun yang berakhir pada tanggal                        For the years ended
31 Desember 2023 dan 2022                                     December 31, 2023 and 2022
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)           (Expressed in US Dollar, unless otherwise stated)



                                               2023              2022

                                                                                   CASH FLOWS FROM OPERATING
 ARUS KAS DARI AKTIVITAS OPERASI                                                   ACTIVITIES
 Penerimaan kas dari pelanggan                 41.182.865         51.022.396       Cash receipts from customers
 Pembayaran kas kepada pemasok dan
  karyawan                                     (33.130.051)      (27.236.821)      Cash paid to suppliers and employees

 Kas dihasilkan dari operasi                     8.052.814        23.785.575       Cash generated from operations
 Pembayaran pajak penghasilan                   (2.758.651)       (4.418.605)      Income taxes paid
 Penerimaan restitusi pajak                        175.833           142.985       Proceed from tax restitution
 Penerimaan bunga                                  930.618           386.147       Interest received

 Kas bersih diperoleh dari aktivitas operasi    6.400.614         19.896.102       Net cash provided by operating activities

                                                                                   CASH FLOWS FROM INVESTING
 ARUS KAS DARI AKTIVITAS INVESTASI                                                 ACTIVITIES
                                                                                   Acquisition of property, plant and
 Perolehan aset tetap                            (351.081)          (110.452)         equipment
                                                                                   Proceeds from sale of property, plant and
 Penerimaan dari penjualan aset tetap                 634                  -          equipment
 Penerimaan dividen                            29.767.991                  -       Cash receipt dividend
 Penerimaan bunga dari kontribusi modal                 -            281.556       Interest received from capital contribution
 Pembayaran kepada kepentingan
    nonpengendali                               (5.027.314)                -       Payment to non-controlling interest
 Pengurang investasi pada entitas anak                   -         2.700.000       Deduction investment in subsidiaries
 Penerimaan (perolehan) investasi                                                  Dishbursment (additional)
    pada obligasi                               5.000.000        (10.000.000)        of investment in bonds

 Kas bersih diperoleh dari (digunakan untuk)                                       Net cash provided by (used in)
  aktivitas investasi                          29.390.230         (7.128.896)        investing activities

                                                                                   CASH FLOWS FROM FINANCING
 ARUS KAS DARI AKTIVITAS PENDANAAN                                                 ACTIVITIES
 Penerimaan utang bank                           2.000.000         2.000.000       Proceeds of bank loans
 Pembayaran utang bank                          (3.000.000)       (2.000.000)      Payment of bank loans
 Pembayaran beban bunga                             (9.472)             (682)      Payment of interest
 Pembayaran liabilitas sewa                        (53.132)          (34.883)      Payment of lease liabilities
 Pembayaran dividen                            (51.468.193)       (5.383.725)      Dividend payment

 Kas bersih digunakan untuk                                                        Net cash used in financing
  aktivitas pendanaan                          (52.530.797)       (5.419.290)        activities

 KENAIKAN (PENURUNAN)                                                              INCREASE (DECREASE)
 KAS DAN SETARA KAS                            (16.739.953)        7.347.916       IN CASH AND CASH EQUIVALENTS

                                                                                   CASH AND CASH EQUIVALENTS AT
 KAS DAN SETARA KAS AWAL TAHUN                 29.170.152         21.822.236       BEGINNING OF YEAR

                                                                                   CASH AND CASH EQUIVALENTS AT
 KAS DAN SETARA KAS AKHIR TAHUN                12.430.199         29.170.152       END OF YEAR




                                                        98
Page 341
                                                                                                The original financial statements included herein are in Indonesian
                                                                                                                                                          language.


PT SURYA ESA PERKASA TBK.                                                                PT SURYA ESA PERKASA TBK.
(ENTITAS INDUK SAJA)                                                                     (PARENT ENTITY ONLY)
INFORMASI TAMBAHAN                                                                       SUPPLEMENTARY INFORMATION
INVESTASI ENTITAS INDUK                                                                  PARENT ENTITY'S INVESTMENT IN SUBSIDIARIES
DALAM ENTITAS ANAK                                                                       For the period ended
Untuk periode yang berakhir pada tanggal                                                 December 31,2023 and December 31, 2022
31 Oktober 2023 dan 31 Desember 2022                                                     (Expressed in U.S. Dollar, unless otherwise stated)
(Disajikan dalam Dolar AS, kecuali dinyatakan lain)

                                                                                  Persentase kepemilikan/             Tahun           Jumlah aset sebelum eliminasi/
                                                                                  Percentage of ownership            operasi          Total assets before elimination
                                                                                                                    komersial/
                                          Jenis usaha/                           31 Desember/    31 Desember/        Year of         31 Desember/     31 Desember/
           Entitas Anak/     Domisili/     Nature of           Kepemilikan/      December 31     December 31,      commercial        December 31,     December 31,
           Subsidiaries      Domicile      business             Ownership            2023            2022          operations            2023             2022

                                                                                                                                        US$                US$

           PT ESSA         Jakarta       Jasa konsultasi           Dimiliki           99,999%          99,999%          Dorman/      610.619.374           734.955.312
           Chemical                      bisnis dan                secara                                               Dormant
           Indonesia (ECI)               manajemen/              langsung/
                                         Management                Owned
                                         and business              directly
                                         consulting services

           PT Panca Amara Jakarta        Pengoperasian         Dimiliki secara              -           0,536%             2018      610.393.399           734.955.004
           Utama (PAU)                   pabrik ammonia/         langsung/
                                         Operates              Owned directly
                                         ammonia plant
                                                            Dimiliki secara           69,999%          59,464%                   -              -                       -
                                                            tidak langsung
                                                              melalui ECI/
                                                           Owned indirectly
                                                              through ECI

           PT Ogspiras      Jakarta      Penjualan gas      Dimiliki secara           99,999%          99,999%             2007                22                    50
           Basya                         mentah melalui        langsung/
           Pratama (OBP)                 pipa/ Raw feed     Owned directly
                                         gas sales through
                                         pipelines
                                                            Dimiliki secara           0,001%            0,001%                   -              -                       -
                                                            tidak langsung
                                                         melalui SEPCHEM/
                                                           Owned indirectly
                                                         through SEPCHEM




                                                                                 99
Page 342

          

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Names mentioned 258 people and organisations named in the text · linked when the evidence is strong

linked org PT ESSA Industries Indonesia Tbk. p.2 ×353
linked person Hamid Awaluddin · Commissioner p.14 ×15
linked person Kanishk Laroya · Presiden Direktur p.22 ×26
linked person Chander Vinod Laroya · Presiden Komisaris p.34 ×38
linked person Arif Rachmat · Komisaris p.45 ×13
linked org Surya Perkasa Tbk. p.46 ×2
linked org Archi Indonesia Tbk p.48 ×4
linked org Delta Dunia Makmur Tbk p.48 ×2
linked org Adaro Energy Tbk. p.49 ×11
linked org PT Akraya International p.49 ×9
linked org Autopedia Sukses Lestari Tbk p.51 ×5
linked org Triputra Agro Persada Tbk. p.51 ×9
linked org Inti Anugerah p.51 ×3
linked org Kirana Megatara Tbk p.51 ×5
linked org Dharma Satya Nusantara Tbk p.51 ×5
linked org Triputra Persada p.51 ×2
linked — Garibaldi Thohir p.69 ×3
linked org BANK OF SINGAPORE LIMITED p.69
linked org PT ELANG MAHKOTA TEKNOLOGI p.70
linked org Dana Pensiun p.71
linked person Andre Mirza Hartawan · Komisaris p.75 ×3
linked org International Finance p.75
linked org Mitsubishi Corporation p.76 ×3
linked org Pemerintah Kabupaten p.83 ×2
linked org Pemda Kabupaten p.83
possible org Bursa Efek Indonesia p.11 ×7
possible org DBS Bank p.34 ×6
possible person Prof. Dr. Satrio p.34 ×7
possible org Negara Republik Indonesia p.38
possible org PT Pertamina (Persero) p.40 ×3
possible org PT ESSA Indonesia Industries Tbk. p.46 ×2
possible org PT. Triputra Investindo Arya p.51 ×3
possible org PT Nusantara p.58 ×14
possible person SUGITO WALUJO p.69
possible — T. PERMADI p.69
possible — JONATHAN CHANG p.69
possible org UOB KAY HIAN PTE LTD p.69
possible org PT TUNGGAL JAYA INVESTAMA p.69
possible — PIETER TANURI p.70
possible person Himawan Gunadi · Komisaris p.75 ×3
possible person Gatot Subroto p.79
possible person Agus Salim p.81 ×3
possible person Ir. H. Amiruddin. MM p.84 ×2
possible org Otoritas Jasa Keuangan p.103 ×15
possible person Garibaldi Tohir p.111
unresolved org Industries Indonesia Tbk. p.2 ×173
unresolved person Independensi · Komisaris Independen p.4 ×2
unresolved org PT ESSA p.11 ×7
unresolved org Indonesia Stock Exchange p.11 ×7
unresolved org PT Panca p.17 ×4
unresolved org PT Panca Amara Utama. p.17 ×58
unresolved org Kementerian Lingkungan Hidup dan Kehutanan p.19 ×3
unresolved org Ministry of Environment and Forestry p.19 ×4
unresolved org PT Panca Amara p.19 ×4
unresolved org Surya Esa Perkasa Tbk. · Company Name p.24 ×14
unresolved org Lingkungan p.27
unresolved org PT Panca Kementerian Lingkungan Hidup p.29
unresolved person ESSA’S New Identity · Komisaris Independen p.32
unresolved org Menteri Hukum dan HAM p.35
unresolved org Minister of Law and Human Rights p.35 ×2
unresolved org Direktorat Jenderal Kekayaan p.37
unresolved org Directorate General of Intellectual Intelektual p.37
unresolved org Kementerian Hukum dan Hak Asasi Manusia p.37
unresolved org Ministry of Law and Human Rights p.37
unresolved org Surya Esa Tbk. p.38 ×4
unresolved org Perkasa Tbk. p.38
unresolved person Hasbullah Abdul Rasyid p.38 ×2
unresolved org Menteri Kehakiman p.38
unresolved org Minister of Justice p.38 ×7
unresolved org PT Surya p.40
unresolved org PT ESSA Industries PAU p.41
unresolved org Indonesia Tbk. p.41 ×6
unresolved org Indonesia Industries Tbk. p.46 ×2
unresolved org Esa Perkasa Tbk. p.46
unresolved person Hamid · Komisaris Independen p.47 ×2
unresolved person Ida Bagus Rahmadi Supancana · Commissioner p.47 ×5
unresolved person Andalia Farida SH. · Notaris p.48 ×3
unresolved org Audit Committee Tbk p.48
unresolved org PT Kutai Energi p.48 ×2
unresolved org PT Adimitra Baratama Nusantara p.48 ×2
unresolved org PT ESSA Industries Tbk. p.48 ×5
unresolved org Industries Tbk. p.48 ×2
unresolved org Menteri Hukum dan Hak Asasi Manusia Republik Indonesia p.48
unresolved org PT Delta Dunia p.48
unresolved org Makmur Tbk p.48
unresolved org PT Trinugraha Akraya Sejahtera p.49 ×6
unresolved org PT Akraya Clean Energy p.49 ×4
unresolved org PT Makmur Sejahtera Wisesa p.49 ×4
unresolved org PT Akraya p.49
unresolved org Indorama Synthetics Tbk p.49 ×15
unresolved org PT ESSA Chemicals Indonesia p.50 ×17
unresolved org PT Sepchem p.50 ×10
unresolved org PT Puri Akraya Engineering p.50 ×2
unresolved org Crusher LLC p.50 ×2
unresolved org Manajer Umum ISIN Lanka Private Limited p.50
unresolved org ISIN Lanka Private Limited p.50
unresolved org Indorama Tbk. p.50 ×3
unresolved org Synthetics Tbk. p.50 ×2
unresolved org Trambak Rubber Industries Limited p.50 ×2
unresolved org PT. Gema Wahana Jaya p.51 ×2
unresolved org PT. Triple A Jaya p.51 ×2
unresolved org PT. Tri Persada Raya p.51 ×2
unresolved org PT. Dharma Inti Anugerah p.51 ×3
unresolved org PT. Food Energy Sources p.51
unresolved org PT. Adi Bumi Jaya p.51 ×2
unresolved org PT. Tridaya Hita Sentosa p.51 ×2
unresolved org PT. Triputra Permata Nusantara p.51 ×2
unresolved org PT. Trikirana Investindo Prima p.51 ×2
unresolved org PT. Triputra Persada Rachmat p.51 ×2
unresolved org PT. Triputra Permata Rachmat p.51 ×2
unresolved person University · Komisaris p.52
unresolved org PT Indo Citra Regulatama p.52 ×2
unresolved org PT Wahana Baratama Mining p.52 ×2
unresolved org PT Tanjung Alam Jaya p.52 ×2
unresolved org PT Ramatelindo Perdana Consultant p.52 ×2
unresolved org PT Duta Krishna Telebuana p.52 ×2
unresolved org PT Ogspiras Basya Pratama p.53 ×8
unresolved org PT Panca Utama p.53
unresolved org PT Indorama Technology p.54 ×2
unresolved org Reliance Communications Ltd. p.55
unresolved org Mercury Laboratories Ltd. p.55 ×2
unresolved org Asea Brown Boveri Ltd p.55 ×2
unresolved org National Engineering Industries Ltd. p.55 ×2
unresolved org PT Northstar Pacific Investments p.56 ×2
unresolved org PT Northstar Paci p.56
unresolved org PT Northstar Pacific Capital p.56
unresolved org PT Pricewaterhouse Coopers Indonesia p.56 ×2
unresolved org PT Waterland p.57 ×3
unresolved — Sertifikasi Port p.58
unresolved org PT Lingkar p.58 ×2
unresolved — Traisser p.58
unresolved — Terkait Dengan UU p.58
unresolved org PT Benefita p.58 ×14
unresolved — Refreshment p.58 ×3
unresolved org PT OSCT p.58 ×2
unresolved — Score Card p.58
unresolved — Course p.59
unresolved org PT LabMania p.59 ×4
unresolved — Teknik Bidang p.59 ×3
unresolved — Pembangkit Tenaga p.59 ×3
unresolved org PT SKF p.59
unresolved — Improvement p.59
unresolved — Penanggung Jawab p.59 ×3
unresolved — Sertifikasi p.60
unresolved — Sertifikasi Tenaga p.60
unresolved — Sertifikasi Analisis p.60
unresolved — BNSP p.60
unresolved org PT Segoro p.60
unresolved — ISO p.60
unresolved — & Workshop p.61
unresolved — Training API 580 - p.61
unresolved org PT Sidik Reka p.61
unresolved — Kepelabuhanan p.62
unresolved — Refreshment - API p.62
unresolved — Sertifikasi Petugas p.62 ×2
unresolved org PT Yokogawa p.62
unresolved — Civil 3D p.62
unresolved — Station for Survey p.62
unresolved org PT Wartsila p.62
unresolved org PT Golden p.63
unresolved — Berbasis ISO 15489 p.63
unresolved — Public Speaking for p.63
unresolved — Sertifikasi Hazard p.63
unresolved — Engine Control p.63
unresolved — Software p.64
unresolved org PT Powerindo p.64
unresolved — Training p.64
unresolved — SDM yang antara lain diwujudkan melalui perencanaan p.65
unresolved — menjadi pijakan yang kokoh untuk mempertahankan p.65
unresolved — terpisahkan dari seluruh karyawan di mana tingkat p.65
unresolved — perwujudan komitmen Perseroan untuk terus menciptakan p.65
unresolved — Ketenagakerjaan dipenuhi Perseroan melalui p.65
unresolved — dibuat dan diberlakukan di p.65
unresolved — serta hubungan kerja antara Perseroan dan karyawannya. p.65
unresolved — adalah dengan pemenuhan Upah Minimum Regional (UMR) p.65
unresolved — saing karyawannya dengan menyediakan fasilitas p.65
unresolved org Administrasi Efek p.69
unresolved org PT Trinugraha Akraya p.69
unresolved org BANK JULIUS BAER AND CO LTD p.69
unresolved org GOLDSTAR TRI INVESTMENT LIMITED p.69
unresolved org MONEYPENNY HOLDINGS LTD. p.69
unresolved org PT TERRA KONSUMA INVESTAMA p.70
unresolved org PT WICAKSANA TEKNOLOGI p.70
unresolved — Share Ownership by p.70
unresolved person Rahul Puri · Komisaris p.70 ×4
unresolved person Mukesh Agrawal · Direktur p.71 ×2
unresolved person Prakash Bumb · Direktur p.71 ×2
unresolved person Isenta · Direktur p.71 ×2
unresolved org PT Akraya Internasional p.71 ×2
unresolved org PT Trinugraha Akraya Sejahtera Through p.71
unresolved org PT Trinugraha Akraya Sejahtera Kepemilikan Saham p.71
unresolved org PT Panca Amara Utama Per p.72
unresolved org Menteri Kehakiman Republik Indonesia p.75 ×5
unresolved person Lodewijk F. Paulus · Komisaris p.75 ×2
unresolved org Metals National Corporation p.76 ×2
unresolved org JGC Corporation p.76 ×2
unresolved org PT Dinar Investindo p.77 ×2
unresolved org PT Dinar Utama p.77
unresolved org PT Dinar Investindo Utama p.77
unresolved org PT Luwuk Investindo Utama p.77
unresolved org PT Luwuk Investindo p.77
unresolved org PT Luwuk p.77
unresolved org PT Luwuk Investindo Utama Investindo Utama p.77
unresolved org PT Sepchem. Setelah p.77
unresolved org Ministry of Law and Human Rights Decree p.77
unresolved org PT ESSA Chemicals p.77
unresolved org Kantor Akuntan Publik Information p.78
unresolved — Gani Sigiro & Handayani · Kantor Akuntan Publik p.78
unresolved person Tagor Sidik Sigiro p.78
unresolved — Legal Consultant · Konsultan Hukum p.79
unresolved org Hamzah & Partners p.79
unresolved person Notary Notaris Jimmy Tanal S.H. · Notaris p.79 ×29
unresolved person Notary · Notaris p.79
unresolved org Securities Administration Bureau · Biro Administrasi Efek p.79
unresolved org PT Datindo Entrycom p.79
unresolved org Kementerian Ketenagakerjaan Republik Indonesia. Pencapaian p.79 ×2
unresolved org Kementerian Ketenagakerjaan Republik Indonesia. p.79
unresolved org Ministry of Manpower p.79 ×3
unresolved org Kementerian Energi dan Sumber Daya Mineral Direktorat Jenderal Minyak dan Gas Bumi. Pencapaian p.80
unresolved org Ministry of Energy and Mineral Resources p.80
unresolved org Directorate General of Oil and Gas. This p.80
unresolved org Kementerian Lingkungan Hidup p.80 ×2
unresolved org Ministry of Environment Kehutanan p.81
unresolved person Drs. Alue Dohong p.81 ×5
unresolved org Menteri Lingkungan Hidup dan Kehutanan p.81
unresolved org Minister of Environment and Forestry p.81
unresolved org Kementerian Ketenagakerjaan Republik Indonesia. PAU p.82
unresolved org Ministry of Manpower and Transmigration p.82
unresolved person Dr. Yopie Dr. Yopie M. p.83
unresolved person Patiro SH. p.83 ×2
unresolved org Pemerintah Kabupaten Banggai p.83
unresolved person Hj. Batia Sisilia Hadjar p.84 ×2
unresolved org Pemerintah Kabupaten Banggai Laut p.85
unresolved person Sofyan Kaepa p.85 ×2
unresolved org Kota Nusantara p.88 ×2
unresolved org Genesis Corporation Corporation p.89
unresolved org PT Pertamina EP. Berikut p.90
unresolved org PT Pertamina EP. p.90 ×2
unresolved org Ministry of Kilang LPG p.90
unresolved org Kementerian Energi dan Sumber Daya p.90
unresolved org Ministry of Environment p.91
unresolved org Kementerian Ketenagakerjaan dan Sertifikat ISO p.91
unresolved org BAPEPAM-LK p.103 ×8
unresolved org Financial Services Authority p.103 ×15
unresolved org Kantor Akuntan Publik Gani Sigiro p.113 ×2
unresolved org Grant Thornton International Limited p.114 ×2
unresolved person Vice · Presiden Komisaris p.121 ×2
unresolved person Memimpin · Komisaris p.122 ×2
unresolved person KEBERAGAMAN · KOMISARIS p.124
unresolved person Meetings · Komisaris p.126
unresolved person Awaluddin · Komisaris Independen p.126
unresolved — Rahmadi · Independent Commissioner p.126
unresolved — Laroya* · Direktur p.134
unresolved person Mukesh · Direktur p.134
unresolved — Agrawal · Director p.134
unresolved person Prakash · Direktur p.134
unresolved — Chand Bumb · Director p.134

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