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                                                                                                                                                    120,8
                                                                                       69,3%           71,2%                                                      62,4
                                                                                                                                                                                    52%
    -2.2%                   +0.5%                        -8.3%                                                        30,7%      28,8%
                                                                                                                                                                                   Utilization
      vs 2024                vs 2024                      vs 2024                                                                                   Annual       2025                 Rate
                                                                                       2024            2025           2024       2025              Capacity     Demand




                                        -3.9%
    29.1%                               Dom
                                                                              +73.9%                            IDR 17,731 bn            IDR 4,270 bn                    IDR 2,249 bn
                             20.179             19.390                        Export
                                                                    317                 551
    35.8% in Java                                                                                                      -4.4%             24.1%        +8.5%          12.7%          +12.0%
    22.0% out Java                                                                                                     vs 2024           of N.R.      vs 2024            of N.R.     vs 2024
                             2024               2025                2024                2025




       533                                                                                                                                            • Citeureup: 32.5 MWp (ground
                     512                                                                       42,0%                                                    mounted) + 8.2 MWp (rooftop)
                                      490                                  29,0%
                                                         21,4%                                                 NOx    275
                                                                                                                      264          800                • Tarjun: 19.7 MWp (ground mounted) +
                                                                                                                                                        5.1 MWp (rooftop)
                                                                                                               SO2    232
                                                                                                                      230          650                • Cirebon: 6.5 MWp (rooftop)
      2024           2025           2030E                2024              2025                2030E           Dust    14,6         60                • Grobogan: 6.2MWp (rooftop) Q3 2026


2
Page 3
    ➢ The biomass feeding facility at Semen Grobogan plant with capacity of 40tph was
      commissioned in August 2025.
    ➢ The lease for Maros Plant & Quarry operation with Semen Bosowa was extended for 2
      years from September 2025.
    ➢ Indocement acquired 2 cement terminals from Semen Bosowa: Siawung, South
      Sulawesi in August 2025 and Lombok in November 2025.
    ➢ Indocement’s subsidiary, PT Pionirbeton Industri, entered a partnership with
      PT Cipta Mortar Utama in December 2025 to establish a joint venture in the business of
      producing and marketing mortar products.




3
Page 4
    1.    Market Overview
                ̶   Cement Market Evolution
                ̶   Cement Volume Development
                ̶   Cement Market Portion & Growth
                ̶   Java-Outside Java & Bag-Bulk Markets



     2.   Financial Performance
            ̶       Financial Results
            ̶       Balance Sheet & Key Financial Indicators


     3.   Operational Performance & Strategy
            ̶       Strategic Initiatives & Investments
            ̶       Marketing Campaign
            ̶       Sustainability & Operational Efficiency
            ̶       Continuous Emission Reduction
            ̶       Outlook

     4. Human Capital, Indocement Good Works and
        Awards

4
     5. Question & Answer
Page 5
       Market Overview




    140,0                                                                                                                                                                                                                                                                            150%
               Cement Capacity (mn ton)                               Domestic Cement (mn ton)                                Utilization % (Domestic)

                                                                                                                                                                                                                                  119,8 120,8 120,8 120,8 120,8 120,8 120,8
    120,0                                                                                                                                                                                                    116,8 116,8 118,1
                                                                                                                                                                                                     113,8
            95%
                   98%
                          93%                                                                                                                                                         111,0 112,4
                                                                                                                                   89%    91%                                 108,0                                                                                                  100%
                                                                                                              85%                                 87%
                                                                                                                                                         84%    82%
                                      82%                                                                            79%    80%
                                                                                                       75%
    100,0                                                                                       71%
                                                                                         68%                                                                           95,2
                                                                                  64%                                                                                         61%     63%    62%
                                                                    57%    58%                                                                                                                                                                                        57%     59%
                                                                                                                                                                                                     55%     55%                                              55%
                                                      48%
                                                             55%
                                                                                                                             7 years stability                                                                      53%    54%    53%    52%    52%    54%
                                                                                                                                                                       65%
                                               40%                                                                                                                                                                                                                                   50%
    80,0                          42%                                                                                                                           75,5
                                                               10 years recovery                                                                         72,3
                                                                                                                                                  66,8
                                                                                                                                                                                      69,5   70,0                                                                             70,9
                                                                                                                                          60,1                                                                                                                        68,9
                                                                                                                                                                              66,3                                                                            66,9
    60,0                                                                                                                                                                                                     63,9          64,0   63,8                 64,9
                                                                                                                                   54,1                         62,0   62,0                          62,5           61,8                 62,4   63,0
                                                                                                                            50,9                         60,5                                                                                                                        0%
                                                                                                                     48,7                         58,0
                                               47,0   47,0   47,1   47,5   47,5   47,5   46,1                                             55,0
                                        45,1                                                    44,9   45,5   45,0
                                                                                                                                   48,0                                  10 years low utilization from
    40,0
                                 33,6                                                                                       40,8
                                                                                                                                                                        capacity increase, pandemic, &
                          27,3
                                                                                                       34,2
                                                                                                              38,1   38,4
                                                                                                                                                                                  geopolitical
                   24,1                                                                  31,5   31,9                                                                                                                                                                                 -50%
            22,6                                                                  30,2
                                 27,5                               27,1   27,5
    20,0                  25,5                               25,7                                                                                  CAGR          07A-10A         10A-13A            13A-16A         16A-19A        19A-22A       22A-25A             25-28F
                   23,6                               22,3
            21,5
                                        19,1   18,8                                                                                              Demand           +6.1%             +12.5%          +2.2%           +4.2%           -4.1%          +0.3%             +2.3%
                                                                                                                                                 Capacity         +3.8%              +9.5%          +12.5%          +5.7%           +1.3%          +1.1%              0%
      0,0                                                                                                                                                                                                                                                                            -100%
            94     95     96     97     98     99     00     01     02     03     04     05     06     07     08     09     10     11     12      13      14    15     16      17      18    19      20       21     22     23    24     25     26E 27E 28E 29E 30E



5                                                                                                                                                         Source: Ministry of Industry with Internal Indocement Projection | The capacity data could be revised based on industry update
Page 6
    Market Overview




        Q1
        Q2                    2023                                     2024                                   2025
        Q3
        Q4

                                       14.269                                    14.273                                 13.163
                                                     17.757                        22%        17.791                      21%
                                          22%
             18.715                                   28%                                      29%
              29%

                           TOTAL                                      TOTAL                                  Total
                          64,016 kt                                  63,791 kt                             62,399 kt
                               +3,6%                                    -0,4%                                   -2,2%

                                           13.151                                   13.745                                   13.997
                                                                                        22%                                      22%
                                               21%


                      17.881                                  18.016                                   17.449
                                                               28%                                      28%
                        27%



                      2023 H1                               2024 H1                                    2025 H1
                                       42.8%                                    43.9%                                   43.5%
                      27,420 kt                             28,018 kt                                  27,160 kt

                      2023 H2                               2024 H2                                    2025 H2
                                       57.2%                                    56.1%                                   56.5%
                      36,596 kt                             35,773 kt                                  35,240 kt

6                                                                                                                          Source: Ministry of Industry
Page 7
    Market Overview




                        Market Volume 2023            Market Volume 2024           Market Volume 2025           2024 Market YoY Growth           2025 Market YoY Growth           2025 INTP YoY Growth

                                                                   29,4%


                                                              18,7%

                                                                             11,5%

                            5,0%                                                                                   3,8%
                                                              1,5%                                                                  1,1%                                                                        5,8%
       3,1%                 0,5%             -0,9%                                              -0,2%                                                                0,2%              -0,8%
                                                                                                                                                    -1,9%
       -1,1%                                                                   -4,0%                               -3,8%                                                                                        -0,4%
                                                                                                -6,2%                                                                                       -2,1%
       -5,1%                                                                                                                             -3,8%           -2,4%            -3,8%
                           -2,3%                                                                                                                     -4,5%                             -4,0%
                                                                             -4,7%              -7,3%
                                                                                                                   -8,2%            -8,3%                           -7,7%                                       -11,6%
                                         -17,1%
                                                                                                                                                                          6.079             5.883
                                                                                                                         5.798           5.794           5.856                                               5.829
                                             -22,2%                                5.181
                4.801                                                                                4.896
                                4.604

                                                3.758              3.920


                                                                                                                   6.024            6.022            5.970           6.319             5.929
                                                                              5.436             5.280                                                                                                    5.509
           5.059                             4.830
                           4.384
                                                              3.029

        4.908           4.489           4.872              2.984           4.876             5.291              5.805            5.956           6.120            6.305             6.177            6.233

               Jan          Feb              Mar               Apr            May                Jun                   Jul          Aug              Sep             Oct               Nov               Dec
                                                                                                       (in kilo ton)


7                                                                                                                                                                                                   Source: Ministry of Industry
Page 8
        Market Overview



    • Mixed volume development across the regions with many parts still experienced declining demand
    • Shifted bulk demand from Kalimantan to Java as shown in bulk portion of each island                                                                                 YoY Area Growth:                    Area                2025 Volume

                                                                                                                                                                                 <=0%               Java                                -2.0%
                                                                                                                                                                               >0% <=5%             Sumatra                            +1.5%
                                                                                                                                                                               >5% <=10%            Kalimantan                         -16.1%
                                                                                                                                                                               >10% <=15%           Sulawesi                            -5.1%
         Aceh                                                                                                                                                                    >15%               Bali & NT                          +5.2%
                                                                                                                      North
                                                                                                                     Kalimantan                                  North                              East Indonesia                     +1.4%
                                                                                                                                                               Sulawesi
                    North                                         Riau
                   Sumatra                                      Islands
                                                                                                                                                  Gorontalo
                                                                                                                      East
                                   Riau                                                                           Kalimantan                                           North                   Southwest
                                                                                      W est                                                                           Maluku                     Papua
    0                                                                                                                                                                                                                                               0
                                                                                  Kalimantan
                        W est
                        Sumatra
                                                                  Bangka-                        Central                          W est
                                          Jambi
                                                                  Belitung                     Kalimantan                      Sulawesi           Central
                                                                                                                                                  Sulawesi                                                                          Papua
                                                                                                                South                                                                                       West
                                                   South                                                    Kalimantan
                                                  Sumatra                                                                                                                                                  Papua
                                                                                                                                                                                                                      Central
                             Bengkulu                                                                                              South                  Southeast                                                   Papua              Highland
                                                                                                    9.0%          10.5%        Sulawesi                   Sulawesi                                                                         Papua
                                                                                     8.1%
                             21.6%         17.4% Lampung         Jakarta
                                                                                                    7.7%          7.7%                                                                Maluku     3.4%          2.3%
                22.2%                                                                                                                                                                 2.7%                                                South
                             22.5%         16.3%                                                                                                        8.4%          7.1%                       3.3%          2.8%                       Papua
                                                                      West
                                                                      Java
                                                                                                                                           7.2%
                                                       Banten                Central Java                                                               8.2%          7.0%
                                                                                              East Java       Bali
                                                                              Yogyakarta S. R.
                         Cement Market                Bulk
         2025 GDP                                                                           51.2%         61.0%       W est Nusa            East Nusa
                           Portion:                  Portion:                56.9%                                    Tenggara              Tenggara
          Portion:
                                  2024                  2024                                51.3%         64.6%
                                                                                                                                           6.4%         1.8%
                                  2025                  2025                                                                      2.8%
                                                                                                                                           6.9%         1.5%

8                                                                                                                                                                                                                               Source: Ministry of Industry, BPS
Page 9
    Market Overview




                               75% Bag
      Outside Java     Java                  79% Bag (+2.2%)
                               25% Bulk                           Bulk    Bag            61% Java       65% Java
                                             21% Bulk (-16.7%)
                                                                                         39% Out-Java   35% Out-Java




                                                                 16.406         18.580       19.562         17.948
      29.570          31.587        31.122        30.373          27%            29%            31%            29%
       48%             49%           49%

                                                    49%




                                                                 45.389         45.436       44.229         44.452
                                                                  73%            71%           69%              71%
      32.224          32.428        32.669        32.027
       52%             51%            51%           51%




       2022            2023          2024          2025           2022           2023          2024           2025
                               63% Bag       64% Bag (-1.5%)                             47% Java         46% Java
                               37% Bulk      36% Bulk (-2.9%)                            53% Out-Java     54% Out-Java

9                                                                                                             Source: Ministry of Industry
Page 10
     1.    Market Overview
                 ̶   Cement Market Evolution
                 ̶   Cement Volume Development
                 ̶   Cement Market Portion & Growth
                 ̶   Java-Outside Java & Bag-Bulk Markets



      2.   Financial Performance
             ̶       Financial Result
             ̶       Balance Sheet & Key Financial Indicators


      3.   Operational Performance & Strategy
             ̶       Strategic Initiatives & Investments
             ̶       Marketing Campaign
             ̶       Sustainability & Operational Efficiency
             ̶       Continuous Emission Reduction
             ̶       Outlook

      4. Human Capital, Indocement Good Works and
         Awards

10
      5. Question & Answer
Page 11
     Financial Performance




                                                            YTD Dec 2025        YTD Dec 2024                 Variance
          SALES VOLUME
                                                              '000 tons           '000 tons         '000 tons            %
          Total Sales Volume                                          19,941              20,496           -554           -2.7%
                Domestic                                              19,390              20,179           -788           -3.9%
                Export                                                   551                 317            234          73.9%

                                                            YTD Dec 2025        YTD Dec 2024                Variance
          INCOME STATEMENT
                                                               Bio IDR             Bio IDR          Bio IDR              %
          Net Revenues                                               17,731.2            18,548.7       -817.5            -4.4%
          Cost of Revenues                                          -11,961.3           -12,487.8        526.5             4.2%
          Gross Profit                                                5,769.9             6,061.0       -291.1            -4.8%
          % of Net Revenues                                            32.5%               32.7%
          Operating Expenses                                         -3,683.0            -3,725.1         42.1             1.1%
          Gain on Divestment and Fair Value Remeasurement               670.0                 0.0        670.0             0.0%
          Other Operating Income (Expense) - Net                        -49.9                57.6       -107.5          -186.7%
          Operating Income                                            2,706.9             2,393.4        313.5            13.1%
          % of Net Revenues                                            15.3%               12.9%
          EBITDA                                                      4,269.8             3,936.4        333.4            8.5%
          % of Net Revenues                                            24.1%               21.2%
          Finance Income (Expense) - Net                                 -6.7               -74.9         68.2            91.1%
          Share of Net Profit of Associates - Net                        37.0               145.3       -108.4           -74.6%
          Final Tax                                                      -0.9                -0.8          0.0            -2.4%
          Profit before Income Tax Expense                            2,736.3             2,463.0        273.3            11.1%
          Income Tax Expense - Net                                     -487.6              -455.1        -32.5            -7.1%
          Profit for the Year                                         2,248.8             2,007.9        240.8            12.0%
11
Page 12
     Financial Performance




                                                                                                        670                        68

                                                                                        13                         (107)                        (108)          (33)
                                                    46
                                                                      189                                                                                                    2.249
         2.008         (101)
                                                                                              (80)
                                       (316)




        Net Profit Volume Effect Price Effect   Distribution      Cost of           Selling   G&A    Divestment    OOIC          Financial   Share Profit      Tax          Net Profit
          2024                                      Cost         Revenues          Expense              Gain                      Inc/Exp       Asct                          2025




                                                               2023         2024    2025                                                                2023     2024        2025

                                                                                                                                                                                  37%
                                                                                38% 36%
                                                 33% 34% 35%                35%
        30% 29% 28%            31%
                                     28% 30%                                                                                                                                27%
                                                                                                                                                  23% 23%             22%
                                                                                                                           19%                21%
                                                                                                     18% 17%
                                                                                                             16%                 16% 18%




              Q1                     Q2                  Q3                        Q4
                                                                                                              Q1                 Q2                     Q3                  Q4

12
Page 13
     Financial Performance



                                                            Dec 2025            Dec 2024




      11.215                     20.510                     6.104                                                                                                   23.203
                                                                                                                                             22.114      Equity
                +8.0%                      +2.4%                                             2.418     +113.9%
                                                                                                         z
                                                                       -14.9%                                    1.131                       30.420      Assets     31.725
                        10.389                     20.031                       7.175
                                                                                                                                          Dec 31, 2024            Dec 31, 2025




                                                                                                          Net Income              Dividend               Payout Ratio
                                                                                             177%                      148%
               34.2%                      -0.9x                        3.7%                              100%                      97%
                                                                                                                                                30%          16%          43%
                                                                                                                         2.669
                                                                                               2.025         1.841                   1.740


                                                                                                       1.835         1.806       1.788       1.842 549 1.950            2.008 868
                                                                                           1.146                                                                  309
               7.2 %                      9.9 %                     13.7 %
                                                                                             2018        2019          2020        2021         2022         2023         2024



13
Page 14
     1.    Market Overview
                 ̶   Cement Market Evolution
                 ̶   Cement Volume Development
                 ̶   Cement Market Portion & Growth
                 ̶   Java-Outside Java & Bag-Bulk Markets



      2.   Financial Performance
             ̶       Financial Result
             ̶       Balance Sheet & Key Financial Indicators


      3.   Operational Performance & Strategy
             ̶       Strategic Initiatives & Investments
             ̶       Marketing Campaign
             ̶       Sustainability & Operational Efficiency
             ̶       Continuous Emission Reduction
             ̶       Outlook


      4. Human Capital, Indocement Good Works and
         Awards

14    5. Question & Answer
Page 15
      Operational Performance & Strategy




                                                                                                                                 ➢ Recent expansions from Java-concentrated
                                                                                                                                   market to other regions: Sulawesi, East
                                                                                                                                   Indonesia, & Sumatra:
                                                                                                                                   • Improving product availability & market share.
                                                                                                                                   • Savings in logistics costs for anticipation of
             Sumatra                                                                                                                 Government’s regulation on Zero ODOL (Over
                                                                        Sulawesi                                                     Dimension Over Loading) for trucks.
                                          Kalimantan
                                                                                                                                 ➢ Joint venture establishment with Saint-Gobain
                                                                                              East Indonesia                       Indonesia (MORTAR UTAMA) to create strong
                                                                                                                                   synergies & open new growth opportunities in
                                                                                                                                   the mortar business.
                                   Java
                                                                  Bali-Nusra                                                     ➢ Sustainability-focused
                                                                                                                                   product: lower clinker
                                                                                                                                   ratio & more mixture of
                                                                                                                                   alternative material.

                                                                                                                                    OPC Replacement
                                        Portland Composite Cement (PCC)
                                                                                                   Portland Slag Cement                          Hydraulic Cement & Cement Portland Industry
     Clinker Ratio                                  56% – 58%                                           45% – 50%                                                    75% – 78%
     CO2 Reduction (compared to OPC)                30% – 35%                                           50% – 55%                                                    10% – 15%
                                       • Distributed in bag for retail customers.   • Low hydration heat, sulfate resistant, high             • Better strength with extraordinary durability than OPC.
                                       • New Government standard, clinker             durability, & longer compressive growth period.         • For infrastructure, high-rise building, & precast industry.
     Characteristic
                                         ratio reduction from 60% to 55%!           • Suitable for mass concrete projects, dams, & jetties.
                                                                                      Used in Patimban port construction.
15
Page 16
       Operational Performance & Strategy




                  Our effective campaign strategy keeps us on top as the No.1 TOP Brand for 17 years running!

                                                                          2025                                                                          2026
                                                                              Konstruksi                                Social Campaign
      Pelanggan Setia         Ramadhan Series          TimNas Moment                              50th Anniversary
                                                                             Untuk Awam           (Offline to Online)
                                                                                                                         (Bangun Rumah
         (Testimonial)          (Video & Quiz)          (Video & Media)
                                                                             (Podcast & Quiz)                                Tukang)




                                                                                                                                               • 50 Collaborators
                                                                                                                                               • 625 Recommendations
         Nov24 - Feb 25           Feb25 - Mar25           Mar25 - Jun25          Apr25 - Jul25       Aug25 – Sep25          Sep25 - 2026
                                                                                                                                               • 32 Winners All Indonesia
                                                                                                                                               • Construction Period :
     • KOL Collaboration      • Youtube Series Short   • Recall EL SEMEN     • Regular Content    • Offline to online   • CTA Campaign           Feb-Jul 2026
     • Kuis #PelangganSETIA   • Kurma Kuis Ramadhan    • STR Goes To GBK     • Youtube Content    • Manifesto Video     • KOL Collaborations
     • Social Media Ads       • Digital Ads            • Media Placement     • Social Media Ads   • KOL Collaboration
                                                                                                  • Social Media Ads




16
Page 17
     Operational Performance & Strategy




                                                     ➢ Maros plant: 0% in 2023 → 25% in YTD Dec25
                                                     ➢ Grobogan plant: 0% in 2023 → 26% in YTD Dec25
                                                     ➢ Aggressively sourcing biomass from surrounding areas since both
                                                       Maros & Grobogan are closed to rice fields & other plantation.
                                                       Currently there are more than 25 AF types.




                         Hot Disc Reactor Facility




                                                        Mountain of Municipal Waste in Bantar Gebang   RDF Rorotan Facility

                                                     ➢ RDF off-taker from Bantargebang location up to 550 ton/day.
                            UNTHA Shredder           ➢ Secured a contract with Rorotan location for 875 ton/day.
17
Page 18
      Operational Performance & Strategy




                                       Fuel Consumption Rate %                                                                                                       GHG Emissions Scope 1 Intensity – NET
         2,3    3,4       3,2                                                                                                                                                           (kg CO2/t cement equivalent)
                                5,8          7,4       9,3      12,2
                                                                         18,1      18,3      21,4
                                                                                                                                          725


                                                                                                       29,0
                                                                                                                              42          675

                                                                                                                                                 693                                                                                              29% reduction
                                                                                                                                          625
                                                                                                                                                                      650                                                                           from 2010

        97,7    96,6     96,8   94,2
                                                                                                                                          575

                                             92,6      90,7     87,8
                                                                         81,9      81,7                                                                                                   585
                                                                                             78,6                                                                                                   573
                                                                                                        71                                525
                                                                                                                                                                                                              558
                                                                                                                                                                                                                         546
                                                                                                                              58                                                                                                   533
                                                                                                                                          475                                                                                                512
                                                                                                                                                                                                                                                                490
         8%     12%      35%    45%          69%      80%       88%      92%       90%       94%        98%                   ~90%
                                                                                                                                          425



                                                                                                                                                 2010        …       2015        …        2020      2021      2022      2023      2024       2025       …       2030E
        2015    2016     2017   2018     2019         2020      2021     2022      2023      2024      2025        …          2030E
                                                                                                                                                Green House Gas (GHG) emission is calculated based on the international reporting standards defined by World Business
                                                                                                                                                Council Sustainable Development (WBCSD) Cement Sustainability Initiative
                          Fossil Fuels              Alternative Fuels            LCV Coal Content                                                  Scope 1: Emissions from operations that are owned or controlled by the reporting company




     NOx & SO2 Measurement
                       2025
                                                                                                                                                                                                                 Capacity           Output           Potential CO2
                                                                                                                                       Location                    Type                     Status
                                                                                                                                                                                                                    (MW)            (GWh/yr)         Savings (ton/yr)
       NOx                             800                                      2015 – 2025                                                                Ground mounted                Operational                   32.50            45.00                   39,150
     (mg/Nm3)      275                                                                                                                Citeureup
                                                                        P14, P9, P10, P4, P8, P5, P11                                                            Rooftop                 Operational                    8.21            10.45                     9,095

                                                              INTP Dust Emission 2015 = 40 mg/m3                                                           Ground mounted                Operational                   19.65            26.00                   33,280
       SO2                      650                                                                                                   Tarjun
                                                              INTP Dust Emission 2025 = 14.6 mg/m3
     (mg/Nm3)                                                                                                                                                    Rooftop                 Operational                    5.14             6.38                     8,165
                 232                                          Government Regulation = 60 mg/m3
                                                                                                                                      Cirebon                    Rooftop                 Operational                    6.50             8.07                     7,017
                                                         ▪ The dust emissions are stated in mg/Nm3
                                                         ▪ The measurement refers to local standard (PermenLHK No. 19/2017)           Grobogan                   Rooftop                  (Q3 2026)                     6.20             7.71                     6,705
        Government Standard           INTP
                                                         ▪ Dust Emission (mg/m3) – (25°C, 1013 hPa) related to 10% oxygen

18
Page 19
     Operational Performance & Strategy




                                                                                     • 2026 domestic volume is estimated to grow +1%
                       • Geopolitical tension                                        • New infrastructure projects (MRT extension, giant
                       • Tariff trade uncertainty                      Volume          seawall, toll roads, etc.)
        External       • High & volatile foreign exchange rate                       • Continuation of 3mio housings/annum
                       • Increase in energy price
                       • Cement export competition                                   • Higher Ministry of Public Works budget in 2026
                                                                                     • Prolonged VAT discount on home purchase up to 2027
                                                                       Policy        • Further cut of the interest rate
                                                                                     • Economic stimulus packages
                       • Weak purchasing power
        Economy        • Stagnant/slow economy growth
                       • Low FDI                                                     • Increase use of alternative fuels
                                                                                     • Clinker reduction – more GREEN cement type:
                                                                                          - Bag: new SNI standard
                       • Oversupply capacity                                              - Bulk: SPI (Semen Portland Industri), hydraulic
        Industry       • Variety of fighting brand on bag product   Sustainability                cement, slag cement
                                                                                          - Increase use of alternative materials
                                                                                     • Operation of solar panels in Indocement factories
                       • ODOL (Over Dimension Over Loading) for
                                                                                     • Continuous efforts on automation/digitalization
                         truck
       Regulation      • Electricity tariff
                       • Carbon tax                                                  • Improved connectivity from new toll roads & seaports
                                                                    Distribution     • Further footprint expansion of Indocement

19
Page 20
     1.    Market Overview
                 ̶   Cement Market Evolution
                 ̶   Cement Volume Development
                 ̶   Cement Market Portion & Growth
                 ̶   Java-Outside Java & Bag-Bulk Markets



      2.   Financial Performance
             ̶       Financial Result
             ̶       Balance Sheet & Key Financial Indicators


      3.   Operational Performance & Strategy
             ̶       Strategic Initiatives & Investments
             ̶       Marketing Campaign
             ̶       Sustainability & Operational Efficiency
             ̶       Continuous Emission Reduction
             ̶       Outlook


      4. Human Capital, Indocement Good Works and
         Awards

20
      5. Question & Answer
Page 21
                                                       z
                                       - 27% or 2.995 FTE
                                                                                       - 9,1% or
                                                                                       - 412 FTE
                                                                                                                Employee competency
                                                                                                         development is our top priority




  Sustaining Human Capital Competitiveness – HR efficiency continues to improve in line with a 38%
  increase in cement production capacity, from 20.5 million tons in 2014 to 28.3 million tons in 2024.
                                                                                                                 SWA Award
                                                                                                         “Best Employee Engagement”



Gradually we recruit the young generation for time to time to prepare next generation to prepare our successors. We focus on the
                  qualified talent and develop their competency according to the company’s need and values.
Page 22
 Zero Fatalities Over the Past Four Years!
 Workplace Safety Remains Our Top Priority → SAFETY FIRST!




 `    Implementation of Safety Training for employees, contractors,
      transporters, and other stakeholders

      “Safety Leadership”, leaders set a strong example
      in implementing workplace safety practices
                                                                                                          Award from SWA:
       Safety KPI” becomes one of the key factors                                                “Best Company” in SHE Implementation
       in performance achievement

Leave for work in the warm body and return home still in the warm body” — this is the message we consistently convey to all our
                                           employees to ensure workplace safety.
Page 23
CERDAS Program presents a clean energy transition solution based on multi-stakeholder
collaboration through the utilization of waste into RDF, while simultaneously driving the creation of
economic value and strengthening the local-level waste management ecosystem.
       Impact of Program:
          Clean Energy Transition: Waste is processed into RDF to replace part of fossil fuels
          Ending Poverty: Creating job opportunities and additional income for communities
          Addressing Inequality: Expanding business access and partnerships for local communities and village-owned
       enterprises (BUMDes)
          Women’s Empowerment: Women actively involved in waste banks and waste management

                                Program Description                                                                                Sustainability Compass
B2C                                                                                       B2G                                              NATURE
Business to Community                                                 Business to Government                  The program contributes to reducing GHG emissions by replacing part of
Distribution of RDF from SS45                                        Distribution of RDF from waste
                                                                                                              fossil fuel consumption in cement plants. In 2024 alone, it helped reduce
Cooperative & Gunung Putri                                        processing facilities owned by the
Village-Owned Enterprise                                                           local government
                                                                                                                  258,535.73 tons of CO₂ and achieved up to 43.8% savings in coal
(BUMDes)                                                                                                                     consumption within ITP’s production process.
                                                                                 6 district or city
  31 Partners                                                                        government
  23 Bank Sampah                                                                                                         WELLBEING                             ECONOMY
                                                                                                       CERDAS Program creates new
                                                                                                                                                               CERDAS Program increases
                                                                                                                 job opportunities for
                                                                                                                                                               the income of members of
                                                                                                                   community groups,
                                                                                                                                                               SS45 Cooperative &
                                                                                                         particularly in the sectors of
                                                                                                                                                               Gunung Putri BUMDes
                                                                                                        waste collection, sorting, and
                                                                                                                                                               (with turnover in 2025
                                                                                                          residual waste processing.                           reaching more than Rp670
B2E                                                                                        B2B                              (SROI: 5.68)
                                                                                                                                               SOCIAL          million).
Business to Employee                                                   Business to Business                      An integrated waste management ecosystem has been established
Sedekah sampah from                                                     RDF from business                         through strong local institutions (SS45 Cooperative and Gunung
employee via integrated apps                                                       partners                          Putri BUMDes), supported by a network of waste banks and
 603 customers of                                                            > 24,000 ton RDF                    community groups in Citeureup, Klapanunggal, and Gunung Putri,
 Bank Sampah                                                                           utilized                   along with the active participation of communities, government,
                                                                                                                                 employees, and business partners.
Page 24
                                                                      organic                   Compost



                                                                                                Collectors or
                                                                      Recycle                   Recycling Industry



                                                                         RDF

                                                                                                                Become alternative fuel
                                                                                                                at Indocement
                                                                      Residue   04              TPA




Waste sorting   RDF Pressing   RDF Ready to Deliver   RDF Transport                   LOWER
                                                                                     EMISSION




                                                                                                                     RDF as alternative   ZERO
                                                                                                                            fuel          WASTE
Page 25
> 300 tons
Ags 2022 – Mar 2026




 687
Page 26
 A women’s empowerment program through community based maternal, child, and family health services. Partnerships: Bogor District Health Office, Community
.Health Centers (Puskesmas), Village Governments, and Posyandu Cadres. Beneficiaries: more than 40,000 people.
                               REA COVERAGE
                               Villages / Sub-
                               Districts
                               1. Citeureup Village
                               2. Hambalang Village
                               3. Tajur Village
                               4. Pasir Mukti Village
                               5. Tarikolot Village
                               6. Gunungsari Village
                               7. Gunungputri Village
                               8. Nambo Village
                               9. Bantarjati Village
                               10. Lulut Village
                               11. Leuwikaret Village
                               12. Puspanegara Sub-
                                   District
                               Districts
                               1. Citeureup District
                               2. Gunung Putri District
     dr. Wahyu Nurlitasari     3. Klapanunggal District
                               Bogor Regency




                                                                   dr. Nurlitasari
Page 27
AWARDS
PROPER Award MoE 2024              CSR & PDB Awards 2025        Indonesia Sustainable Development   SWA Magazine
                                   Kemendes – Gold Category     Awards (ISDA) 2024-2025
Proper Emas: Cirebon Factory
Proper Hijau: Citeureup Factory                                 Platinum Category
Proper Hijau: Tarjun Factory




                                                              TOP CSR Awards 2025                    BISRA
TOP CSR Awards 2025                                           Highest Award: ”“Platinum”
Platinum Trophy, Star 5, and Top                              “Jangkrik BOS” Program
Leader on CSR Commitment for CEO
Christian Kartawijaya
Page 28
     1.    Market Overview
                 ̶   Cement Market Evolution
                 ̶   Cement Volume Development
                 ̶   Cement Market Portion & Growth
                 ̶   Java-Outside Java & Bag-Bulk Markets



      2.   Financial Performance
             ̶       Financial Result
             ̶       Balance Sheet & Key Financial Indicators


      3.   Operational Performance & Strategy
             ̶       Strategic Initiatives & Investments
             ̶       Marketing Campaign
             ̶       Sustainability & Operational Efficiency
             ̶       Continuous Emission Reduction
             ̶       Outlook


      4. Human Capital, Indocement Good Works and
         Awards

28
      5. Question & Answer
Page 29
Thank You

File

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Published7 Apr 2026
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Names mentioned 7 people and organisations named in the text · linked when the evidence is strong

linked person Christian Kartawijaya p.27
unresolved org PT Pionirbeton Industri p.3
unresolved org PT Cipta Mortar Utama p.3
unresolved org Ministry of Industry p.5 ×5
unresolved org Ministry of Public Works p.19
unresolved person dr. Wahyu Nurlitasari p.26
unresolved person dr. Nurlitasari p.26

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