20260331_ANTM_Laporan Informasi dan Fakta Material_32056500_lamp2.pdf

investment in strategic downstream ‑based projects. In addition, ANTAM’s total equity in FY25 also
increased to Rp36.60 trillion, growing by 14 % from the FY24 equity position of Rp32.20 trillion.

Based on the Company’s cash flows , ANTAM posted net cash generated from operating activities of
Rp5.62 trillion, an increase of 53   % compared to Rp3.68 trillion in FY24. This achievement
demonstrates the Company’s effectiveness in generating positive cash flows from its core
operations. The implementation of operational strategies and disciplined financial management
supported the growth of the Company’s cash and ca sh equivalents, which rose by 77% to Rp8.43
trillion in FY25, compared to Rp4.75 trillion in FY24.

Resilient Operations Performance, Driving Sustainable Growth

The Company continues to strengthen the implementation of operational excellence to ensure the
achievement of production and sales targets. ANTAM’s operational performance in FY25 delivered
optimal results, supported by strong production and sales performa nce across its main commodities
including the highest nickel ore production in more than a decade, all           ‑time high record
achievements in bauxite and alumina, and resilient gold sales performance in line with sustained
domestic demand.

“Optimal operational performance has been a            primary contributor in strengthening the
Company’s financial results, alongside prudent financial management in maintaining a solid
balance sheet structure and financial position. This is reflected in the Company’s strong
financial outcomes, supported by positive contributions from its main c      ommodity portfolio,”
added Untung.

ANTAM recorded the Company revenue growth (“Sales ”) of 22% to Rp84.64 trillion in FY25,
compared to Sales of Rp69.19 trillion in FY24. The domestic market remained the primary
foundation of ANTAM’s perfor mance in FY25, with the Sales contributing of Rp81.10 trillion or
around 96% of total net sales in FY25, reflecting the Company’s strong positioning in catch a growth
opportunities within the domestic market.

Despite global market dynamics influenced by economic and geopolitical uncertainty, financial
market volatility, and inflationary pressures, domestic demand for gold as a hedge instrument
remained strong. ANTAM proactively directed its sourcing strategy toward strengthening domestic
gold supply to enhance the Company’s competitiveness. This approach helped maintain solid gold
sales performance, delivering a significant contribution to the Company’s performance. In FY25, the
gold segm ent contributed approximately 79 % to ANTAM’s total Sale s. Gold sales in FY25 grew by
15% to Rp66.47 trillion, compared to FY24 gold sales of Rp57.56 trillion.




For further information please contact
Wisnu Danandi Haryanto
Corporate Secretary
E-mail: corsec@antam.com
www.antam.com

Through the strengthening of its domestic marketing strategy, supported by successful
adjustments and optimization of domestic supply, ANTAM recorded gold sales volume of 37,365 kg
(1,201,313 troy oz.) in FY25.

The nickel segment (ferronickel and nic kel ore products) contributed 18% or Rp14.85 trillion to total
Sales in FY25. This strong performance represe nts a significant increase of 56% from Rp9.50 trillion
in FY24, driven by high demand as well as ANTAM's nickel ore products are of excellent quality and
meet domestic market needs.

Throughout FY25, ANTAM’s nickel ore production reached 16.11 million wet metr ic tons (wmt), an
increase of 62 % compared to FY24 production of 9.94 million wmt. On the marketing side, nickel
ore sales in FY25 amounted to 14.58 million wmt, growing by 75 % compared to 8.35 million wmt in
FY24. Driven by domestic demand increase, FY25 marked ANTAM’s highest nickel ore production
and sales performance in more than a decade since the implementation of the mineral export ban.

Meanwhile, for ferronickel products, amid domestic regulatory dynamics throughout FY25, ANTAM
maintained operational stabi lity, recording production of 16,064 tons of nickel in ferronic kel (TNi)
and sales volume of 10 ,528 TNi.

The bauxite an d alumina segment , contributed 3 % to ANTAM’s total Sales i n FY25, with sales
reaching Rp2.92 trillion. This bauxite and alumina sales increase of 62% compared to FY24 sales of
Rp1.80 trillion.

Through with optimized mining capacity and productivity, as well as increasing domestic market
absorption, in FY25 ANTAM recorded the all-time high bauxite production and sales performance in
Company history. Bauxite production in FY25 reached 2.83 million w mt, a significant increase of
112% compared to 1.33 million wmt in FY24. Meanwhile, bauxite sales in FY25 reached 1.89 million
wmt, significant increase of 157% from FY24 of 736,188 wmt.

With ANTAM’s strategy to optimize the operations of the Company’s CGA Plant, alumina production
in the form of chemical grade alumina (CGA) reached 181,690 tons of alumina in FY25, an increase
of 23% compared to 147,826 tons of alumina in FY24. Meanwhile, CGA sales reached 179,828 tons
of alumina, growing by 1% compared to 177,178 tons of alumina in FY24. These FY25 achievements
marked the all-time high CGA production and sales levels in the Company’s history.

Creating Corporate Value through Sustainability Implementation

As part of ANTAM’s commitment to implementing Environmental, Social, and Governance (ESG)
principles, in FY25 the Company undertook an initiative to purchase Renewable Energy Certificates
(REC) for use in the operations of the Precious Metals Processing an d Refinery Business Unit and the
Gold Mining Business Unit.




For further information please contact
Wisnu Danandi Haryanto
Corporate Secretary
E-mail: corsec@antam.com
www.antam.com

Based on the Sustainalytics ESG Risk Rating Report, ANTAM recorded an improvement in its ESG
performance, reflected in a lower Sustainalytics risk score. In 2025, ANTAM’s Sustainalytics risk score
decreased to 33.36 (high risk) from 2024 of 42.06 (severe risk). This reduction indicates strengthened
risk management, enhanced information disclosure, and increasingly solid corporate governance
practices.

Consistent ESG implementation is expected to further strengthen business resilience amid industry
dynamics, build greater stakeholder trust, and create sustainable long ‑term value for the Company,
society, and the environment.

Sustainable Business Development through Mineral Downstreaming

In alignment with the Fifth Asta Cita , which is one of Indonesia’s eight national development
priorities, which focuses on the downstreaming and industrialization of natural resources to
enhance domestic value creation . ANTAM committed to strengthening integrated mineral
downstreaming to generate sustainable added value within the country. This commitment is
realized through the development of various mineral downstreaming projects as part of the
Company’s long ‑term growth strategy.

In the gold segment, ANTAM is currently undertaking the development of a precious metals
manufacturing facility located in the Java Integrated Industrial and Ports Estate (JIIPE), Gresik, East
Java, which is now entering the construction phase. This projec t is intended to enhance the value
created by the gold business segment through expanded manufacturing capacity for Logam Mulia
gold products.

In the nickel segment, ANTAM has achieved several important milestones in its joint‑venture project
for the development of Indonesia’s EV Battery ecosystem with CBL Partners (part of the CATL Group),
including completion of initial works, progress on permitting, and financing preparations to support
construction readiness aligned with the target schedule . The project has entered the construction
phase in East Halmahera, marked by the commencement of EPC construction activities in the fourth
quarter of 2025 as part of the development of the national EV Battery ecosystem.

In addition, ANTAM continues to strengthen its strategic        in supporting the acceleration of
Indonesia’s integrated battery ecosystem through the next phase of initiatives with PT Industri
Baterai Indonesia or Indonesia Battery Corporation (IBC), and strategic partner HYD (led by global
corporation Zhejiang Huayou Cobalt Co., Ltd). This collaboration includes the signing of a
Framework Agreement, which serves as the foundation for developing an integrated in        vestment
portfolio from upstream to downstream , from nickel resource management, processing and
refining, to battery production.




For further information please contact
Wisnu Danandi Haryanto
Corporate Secretary
E-mail: corsec@antam.com
www.antam.com

To strengthen the downstream development of the bauxite commodity, ANTAM is fully committed
to advancing the integration of the national aluminum industry through the Mempawah Smelter
Grade Alumina Refinery (SGAR) Phase 1 Project, which will have a     SGA production capacity of 1
million tons of alumina.

In line with the plan to commence SGAR Phase I operations in 2026, the groundbreaking ceremony
for SGAR Phase II was held in February 2026. The project aims to expand SGA’s capacity to 1 million
tons of alumina per year. This expansion will be developed in phases to support national mineral
security and ensure the availability of raw materials for the domestic manufacturing industry. This
expansion is part of the effort to strengthen the national industrial value chain.

Through these various development initiatives, ANTAM is expanding its long ‑term growth runway
to ensure stronger and more sustainable value creation, contributing positively to Indonesia ’s
economic growth in the future.


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For further information please contact
Wisnu Danandi Haryanto
Corporate Secretary
E-mail: corsec@antam.com
www.antam.com