Source file signed link, expires in 15 minutes
Extracted text 689
Page 1
PT Pertamina Geothermal Energy Tbk
Page 2
iv Laporan Tahunan 2025 | 2025 Annual Report Laporan Tahunan ini berisi pernyataan-pernyataan, data dan informasi yang dapat This Annual Report contains statements, data, and information that may be considered dianggap sebagai pandangan masa depan (forward looking statements) berupa proyeksi, forward-looking statements, including projections, assumptions, and expectations, which asumsi, dan ekspektasi, yang memiliki faktor risiko dan ketidakpastian yang membuat involve risk factors and uncertainties that may cause such statements not to be fully realized. pernyataan tersebut tidak dapat sepenuhnya terealisasi. Dalam Laporan Tahunan ini kata “PGE,” “Perusahaan,” “Perseroan,” diasosiasikan In this Annual Report, the terms “PGE,” the “Company,” and the “Corporation” refer kepada PT Pertamina Geothermal Energy Tbk. Penulisan “Pekerja PGE,” “Pekerja” to PT Pertamina Geothermal Energy Tbk. The terms “PGE Personnel,” “Personnel,” dan “Perwira” merujuk kepada karyawan PGE. Adakalanya kata “kami” digunakan atas and “Perwira” refer to PGE employees. The term “we” is occasionally used for convenience dasar kemudahan untuk menyebut PT Pertamina Geothermal Energy Tbk secara umum, to refer to PT Pertamina Geothermal Energy Tbk in general or as a pronoun for the Board atau sebagai kata ganti Dewan Komisaris dan Direksi dalam Laporan Manajemen. of Commissioners and the Board of Directors in the Management Report. Laporan Tahunan PGE 2025 saling melengkapi dengan Laporan Keberlanjutan PGE 2025 PGE’s 2025 Annual Report complements PGE’s 2025 Sustainability Report, yang tersedia dalam buku terpisah. which is available in a separate publication. Klik https://www.pge.pertamina.com/id/laporan untuk mengunduh Laporan Tahunan ini. Click https://www.pge.pertamina.com/id/laporan to download this Annual Report. PT Pertamina Geothermal Energy Tbk
Page 3
Laporan Tahunan 2025 | 2025 Annual Report 1
LEADING
THE WAY
Tahun 2025 menjadi momentum penting bagi PT Pertamina Geothermal Energy Tbk
dalam memperkuat kepemimpinannya di industri energi panas bumi. Perseroan
berhasil mencatatkan kinerja terbaik sepanjang sejarah operasional dengan
capaian produksi dan keuangan yang mencapai rekor tertinggi (all-time high).
Beroperasinya PLTP Lumut Balai Unit 2 berkapasitas 55 MW menjadi pendorong
utama peningkatan produksi listrik hingga mencapai 5.095,49 GWh, sekaligus
mendorong pencapaian pendapatan tertinggi Perseroan.
Komitmen untuk terus memimpin juga diwujudkan melalui inovasi produk
dan pengembangan teknologi. Perseroan meluncurkan Flow2Max®, teknologi
pengukuran aliran fluida panas bumi dua fase secara real-time yang diperkenalkan
ke pasar global sebagai solusi efisiensi bagi industri geothermal. Di saat yang
sama, Perseroan memperluas horizon bisnis beyond electricity, ditandai dengan
groundbreaking pilot plant green hydrogen di Area Ulubelu.
Seluruh pencapaian ini semakin memperkuat posisi Perseroan sebagai salah satu
pemimpin dalam industri panas bumi global serta mendukung peran Perseroan
sebagai Geothermal Center of Excellence dalam pengembangan dan pemanfaatan
energi panas bumi secara berkelanjutan.
The year 2025 marked a significant milestone for PT Pertamina Geothermal Energy Tbk in
consolidating its leadership within the geothermal energy sector. The Company achieved
its strongest operational performance to date, achieving production and financial results
at all-time-highs. The commissioning of the 55 MW Lumut Balai Unit 2 geothermal power
plant drove electricity output to 5,095.49 GWh and supported the Company’s highest-ever
revenue.
The Company sustains its leadership through product innovation and technological
advancement, exemplified by the launch of Flow2Max®, a real-time two-phase geothermal
fluid flow measurement technology offered globally as an efficiency solution for the
geothermal sector. At the same time, the Company is broadening its business scope beyond
electricity with the launch of a green hydrogen pilot plant in the Ulubelu Area.
All these achievements strengthen the Company’s position as one of the leaders in the
global geothermal industry and affirm its role as a center of excellence for the sustainable
development and utilization of geothermal energy.
PT Pertamina Geothermal Energy Tbk
Page 4
2 Laporan Tahunan 2025 | 2025 Annual Report
Kesinambungan Tema
Theme Continuity
2021 2022 2023
Memberikan energi untuk masa depan yang Sebagai perusahaan yang mengelola Pada tahun 2023, PGE mencatat berbagai
lebih hijau adalah perjuangan tanpa henti. panas bumi terbesar di Indonesia, PGE pencapaian yang membuat Perseroan naik kelas
Sebagai pengelola panas bumi terbesar di bertekad menjadi perusahaan energi bersih sebagai korporasi yang lebih berkualitas dan
Indonesia, PT Pertamina Geothermal Energy kelas dunia pada tahun 2030. PGE telah bertanggung jawab, dengan mencatat sejarah
Tbk (PGE) berkomitmen untuk terus mendukung menyiapkan berbagai strategi dan inovasi serta menjadi perusahaan terbuka, menerbitkan green
pemerintah dan pelaku usaha dalam perjalanan menghadirkan ketangguhan energi bersih masa bond, hingga menjadi penyedia kredit karbon
mengurangi emisi karbon yang dihasilkan dari depan untuk mewujudkan komitmen tersebut. pertama di Bursa Karbon Indonesia.
produksi energi.
As the largest geothermal company in Indonesia, Kami juga mendapatkan penilaian dan apresiasi
Kami akan melanjutkan upaya pemanfaatan PGE is committed to becoming a world-class eksternal yang membuktikan pengelolaan risiko
panas bumi di dalam negeri, yang telah dimulai clean energy company by 2030. PGE has ESG Perseroan yang baik, seperti peringkat
sejak tahun 1974. Hingga saat ini PGE telah prepared various strategies and innovations, Negligible Risk dari Sustainalytics, serta PROPER
berkontribusi kepada 82% kapasitas energi presenting a resilient clean energy future Emas 13 tahun berturut-turut untuk Area
panas bumi terpasang di Indonesia. to achieve this commitment. Kamojang. Seluruh pencapaian tersebut menjadi
bukti bahwa strategi Perseroan telah sejalan
Providing energy for a greener future is a dengan visi PGE untuk menjadi perusahaan
continuous struggle. As the largest geothermal energi hijau berkelas dunia.
operator in Indonesia, PGE is committed to
continuously supporting the government and In 2023, PGE recorded various achievements
businesses in their journey to reduce carbon that elevated the Company to a higher quality
emissions from energy production. and more responsible corporation. This includes
becoming a public company, issuing green bonds,
We will continue our efforts to utilize geothermal and becoming the first provider of carbon credits
energy domestically, which began in 1974. To on the Indonesian Carbon Exchange.
date, PGE has contributed to 82% of Indonesia’s
installed geothermal energy capacity. We have also received external assessments and
recognition that demonstrate the Company’s sound
ESG risk management, such as a Negligible Risk
rating from Sustainalytics and a Gold PROPER
rating for the Kamojang Area for 13 consecutive
years. All of these achievements demonstrate that
the Company’s strategy aligns with PGE’s vision
to become a world-class green energy company.
PT Pertamina Geothermal Energy Tbk
Page 5
Laporan Tahunan 2025 | 2025 Annual Report 3
PT Pertamina Geothermal Energy Tbk
2024 2025 Leading The Way
Sepanjang tahun 2024 PGE terus memperkuat Tahun 2025 menjadi momentum penting bagi PT Pertamina Geothermal Energy Tbk dalam
kinerja melalui percepatan pengembangan memperkuat kepemimpinannya di industri energi panas bumi. Perseroan berhasil mencatatkan
kapasitas terpasang secara organik, peningkatan kinerja terbaik sepanjang sejarah operasional dengan capaian produksi dan keuangan yang
komersialisasi berbasis kapasitas lokal dan mencapai rekor tertinggi (all-time high). Beroperasinya PLTP Lumut Balai Unit 2 berkapasitas
produksi dalam negeri, serta diverfisikasi 55 MW menjadi pendorong utama peningkatan produksi listrik, sekaligus mendorong pencapaian
pemanfaatan panas bumi di luar sektor pendapatan tertinggi Perseroan.
kelistrikan.
Komitmen untuk terus memimpin juga diwujudkan melalui inovasi produk dan pengembangan
Melalui pendekatan ini, PGE akan memperkuat teknologi. Perseroan meluncurkan Flow2Max®, teknologi pengukuran aliran fluida panas bumi
perannya dalam mendukung swasembada dan dua fase secara real-time yang diperkenalkan ke pasar global sebagai solusi efisiensi bagi
ketahanan energi nasional, mendorong transisisi industri geothermal. Di saat yang sama, Perseroan memperluas horizon bisnis beyond electricity,
menuju energi berkelanjutan, serta memperbesar ditandai dengan groundbreaking pilot plant green hydrogen di Area Ulubelu.
kontribusi terhadap pertumbuhan ekonomi
dan peningkatan Produk Domestik Bruto (PDB). Seluruh pencapaian ini semakin memperkuat posisi Perseroan sebagai salah satu pemimpin
dalam industri panas bumi global serta mendukung peran Perseroan sebagai Geothermal Center
Throughout 2024, PGE will continue to strengthen of Excellence dalam pengembangan dan pemanfaatan energi panas bumi secara berkelanjutan.
its performance by accelerating the organic
development of installed capacity, increasing The year 2025 marked a significant milestone for PT Pertamina Geothermal Energy Tbk
commercialization based on local capacity and in consolidating its leadership within the geothermal energy sector. The Company achieved
domestic production, and diversifying geothermal its strongest operational performance to date, achieving production and financial results
utilization beyond the electricity sector. at all-time-highs. The commissioning of the 55 MW Lumut Balai Unit 2 geothermal power plant
drove electricity output and supported the Company’s highest-ever revenue.
Through this approach, PGE will strengthen
support for national energy self-sufficiency and The Company sustains its leadership through product innovation and technological advancement,
security, encourage the transition to sustainable exemplified by the launch of Flow2Max®, a real-time two-phase geothermal fluid flow measurement
energy, and increase its contribution to economic technology offered globally as an efficiency solution for the geothermal sector. At the same time,
growth and Gross Domestic Product (GDP). the Company is broadening its business scope beyond electricity with the launch of a green hydrogen
pilot plant in the Ulubelu Area.
All these achievements strengthen the Company’s position as one of the leaders in the global
geothermal industry and affirm its role as a center of excellence for the sustainable development
and utilization of geothermal energy.
PT Pertamina Geothermal Energy Tbk
Page 6
4 Laporan Tahunan 2025 | 2025 Annual Report
Daftar Isi
Table of Contents
Ikhtisar Kinerja Profil
Keuangan Perusahaan
Financial Performance Highlights Company Profile
Kesinambungan Tema 2 Riwayat Singkat Perseroan 76 Demografi Pekerja 118
Theme Continuity Brief History of The Company Employee Demographics
Daftar Isi 4 Tentang PGE 79 Informasi Pemegang Saham 120
Table of Contents About PGE Shareholder Information
Strategi PGE 6 Jejak Langkah Perseroan 80 Pemegang Saham Utama dan Pengendali 121
PGE Strategy Company Milestones Ultimate And Controlling Shareholders
Keberlanjutan Sebagai Bagian dari Bisnis 7 Jejak Langkah Perseroan 82 Kronologis Pencatatan Saham 127
Sustainability as part of the Business Company Milestones Chronology of Share Listing
Ikhtisar Keuangan 16 Visi, Misi, dan Nilai-Nilai Perseroan 84 Struktur Grup Perseroan 129
Financial Highlights Corporate Vision, Mission, and Values Company Group Structure
Ikhtisar Operasional 19 Kredit Karbon 90 Entitas Anak, Entitas Asosiasi, dan
Operational Highlights Carbon Credits Perusahaan Ventura 130
Ikhtisar Saham 20 Wilayah Kerja Panas Bumi 92 Subsidiaries, Associates,
Stock Highlights Geothermal Working Areas and Joint Ventures
Ikhtisar Obligasi 23 Struktur Organisasi 96 Alamat Kantor Area, Entitas Anak,
Bond Highlights Organizational Structure dan Entitas Asosiasi 137
Penghargaan dan Sertifikasi 24 Susunan Dewan Komisaris dan Direksi 98 Address of Area Office, Subsidiaries,
Awards and Certification Composition of The Board of Commissioners and Associates
Sertifikasi 30 and Board of Directors Akuntan Publik dan Kantor Akuntan
Certifications Profil Dewan Komisaris 100 Publik (KAP) 138
Paten 31 Board of Commissioners Profile Public Accountant and Public
Patent Profil Direksi 106 Accounting Firm (KAP)
Peristiwa Penting 32 Board of Directors Profile Nama dan Alamat Lembaga dan/atau
Event Highlights Pelatihan dan Pengembangan Profesi Penunjang Pasar Modal 140
Kompetensi Dewan Komisaris dan Direksi 112 Name and Address of Capital Market
Training and Competency Development Supporting Institutions and/or Professions
of The Board of Commissioners and Informasi pada Situs WEB Perseroan 144
Laporan The Board of Directors Information on The Company’s Website
Manajemen
Management Report
Laporan Dewan Komisaris 46
Report of The Board of Commissioners
Dewan Komisaris 57
Board of Commissioners
Laporan Direksi 58
Board of Directors’ Report
Direksi 73
Board of Directors
Profil
Perusahaan
Company Profile
74
PT Pertamina Geothermal Energy Tbk
Page 7
Laporan Tahunan 2025 | 2025 Annual Report 5
Penunjang
Bisnis
Business Support
Sumber Daya Manusia 148
Human Resources
Digitalisasi dan Keamanan SIBER 161
Digitalization and Cyber Security
Analisis dan
Pembahasan
Manajemen Tata Kelola
Management Discussion Perusahaan
and Analysis Corporate
Governance
244
Tinjauan Ekonomi dan Industri 172
Economic and Industry Overview
Tinjauan Keuangan 194
Financial Review
Tata Kelola Auditor Eksternal
External Auditor
389 Akses Informasi dan
Data Perseroan
447
Perusahaan Sistem Pengendalian Internal 390 Access to the Company’s Information
Corporate Governance Internal Control System and Data
Sistem Manajemen Risiko 400 Evaluasi Penerapan GCG 449
Tata Kelola Perusahaan 246 Risk Management System Evaluation of GCG Implementation
Corporate Governance Perkara Hukum yang Berdampak Material
Rapat Umum 261 Terhadap Perseroan, Entitas Anak, Dewan
Pemegang Saham (RUPS) Komisaris, Dan Direksi Tahun 2025 427 Tanggung Jawab
General Meeting Of Shareholders (GMS) 261 Management of Conflict of Interests of The Sosial dan
Dewan Komisaris 276 Board of Commissioners and The Board of
Board of Commissioners Directors Lingkungan
Direksi 326 Kode Etik 429 Social and Environmental
The Board of Directors Code of Ethics Responsibility
Pengelolaan Benturan Kepentingan Whistleblowing System (WBS) 431
Dewan Komisaris dan Direksi 360 Whistleblowing System (WBS) Tanggung Jawab 516
Management of Conflict of Interests for Kebijakan Anti Penyuapan dan Korupsi 435 Sosial dan Lingkungan
The Board of Commissioners and Anti-Bribery and Corruption Policy Social And Environmental Responsibility
Board of Directors 360 Kebijakan Gratifikasi 437 Program TJSL Unggulan 521
Kebijakan Pengungkapan Gratuity Policy Flagship CJSL Program
Kepemilikan Saham 361 Laporan Harta Kekayaan Penyelenggara
Share Ownership Disclosure Policy Negara (LHKPN) 438 Surat Pernyataan Tanggung Jawab 526
Keberagaman Komposisi State Official Wealth Report (LHKPN) Liability Statement Letter
Dewan Komisaris dan Direksi 362 Perdagangan Orang Dalam 439
Diversity of the Board of Commissioners Insider Trading Laporan Keuangan 528
and Board of Directors Kebijakan Pemberian Kompensasi Financial Statments
Sekretaris Dewan Komisaris 363 Jangka Panjang 440
Secretary to The Board of Commissioners Policy for Providing Long-Term Referensi SEOJK
Sekretaris Perusahaan 366 Compensation Nomor 16/SEOJK.04/2021:
Corporate Secretary Perlindungan Hak Kreditur 443 Laporan Tahunan Emiten atau
Hubungan Investor 370 Creditor Rights Protection Perusahaan Publik 665
Investor Relations Pengadaan Barang dan Jasa 444 SEOJK No. 16/SEOJK.04/2021:
Audit Internal 373 Goods and Services Procurement Annual Report of Public Company
Internal Audit
PT Pertamina Geothermal Energy Tbk
Page 8
6 Laporan Tahunan 2025 | 2025 Annual Report
Strategi PGE
PGE Strategy
PGE telah menetapkan target atau sasaran yang akan dicapai melalui tiga strategi
utama yaitu: Power Development, Downstream Industrialization, dan Derivatives
and Beyond Electricity.
PGE has set targets to be achieved through three main strategies: Power Development, Downstream Industrialization,
and Derivatives and Beyond Electricity.
Strategi Power Development merupakan pilar utama pertumbuhan Perseroan yang difokuskan pada
peningkatan kapasitas terpasang secara berkelanjutan melalui pengembangan proyek baru dan
optimalisasi kinerja aset existing. Perseroan secara konsisten mengadopsi teknologi yang telah terbukti
secara komersial untuk memperkuat keandalan operasi, meningkatkan efisiensi, dan mengoptimalkan
performa pembangkitan. Sejalan dengan itu, Perseroan memperkuat kolaborasi strategis guna
mendorong pertumbuhan pendapatan, memperluas pangsa pasar, serta membangun ekosistem bisnis
panas bumi yang kokoh dan berdaya saing.
POWER
DEVELOPMENT The Power Development strategy is a key pillar of the Company’s growth, focused on sustainably
increasing installed capacity through the development of new projects and optimizing the performance
of existing assets. The Company consistently adopts commercially proven technologies to strengthen
operational reliability, improve efficiency, and optimize generation performance. Consistently,
the Company strengthens strategic collaborations to drive revenue growth, expand market share,
and build a robust and competitive geothermal business ecosystem.
Strategi Downstream Industrialization diarahkan untuk memperluas jangkauan bisnis Perseroan
melalui pengembangan center of excellence industri hilir panas bumi di dalam negeri serta penguatan
pengembangan komponen utama pembangkit secara domestik. Inisiatif ini dirancang untuk
meningkatkan tingkat komponen dalam negeri (TKDN), memperkuat tingkat komersial proyek, dan
mendorong peningkatan kapabilitas industri nasional. Melalui langkah tersebut, Perseroan berupaya
meningkatkan daya saing, menciptakan nilai tambah berkelanjutan, serta memperkokoh fondasi
keberlanjutan bisnis jangka panjang.
DOWNSTREAM
INDUSTRIALIZATION The Downstream Industrialization strategy is aimed at expanding the Company’s business reach through
the development of centers of excellence in the domestic downstream geothermal industry
and strengthening the development of key power plant components domestically. This initiative
is designed to increase the domestic content (TKDN), strengthen the commercialization of projects,
and encourage increased national industrial capability. Through these steps, the Company strives
to increase competitiveness, create sustainable added value, and strengthen the foundation for long-term
business sustainability.
Strategi Derivatives and Beyond Electricity difokuskan pada pengembangan produk turunan panas
bumi dan solusi energi mandiri untuk membuka sumber pertumbuhan baru. Perseroan menargetkan
perluasan pasar, peningkatan inklusi energi bersih, dan penguatan ketahanan energi nasional. Langkah
ini menegaskan posisi Perseroan sebagai perusahaan energi hijau yang inovatif dan adaptif terhadap
kebutuhan energi masa depan.
The Derivatives and Beyond Electricity strategy focuses on the development of geothermal derivative
DERIVATIVES AND products and independent (off-grid) energy solutions to unlock new sources of growth. The Company
BEYOND targets market expansion, increased clean energy inclusion, and strengthened national energy security.
This initiative affirms the Company’s position as an innovative green energy company that adapts
ELECTRICITY to future energy needs.
PT Pertamina Geothermal Energy Tbk
Page 9
Laporan Tahunan 2025 | 2025 Annual Report 7
Keberlanjutan Sebagai
Bagian dari Bisnis
Sustainability as part of the Business
Visi PGE
PGE’s Vision
To Become a World-Class Green
Energy Company.
To Become a World-Class Green Energy Company.
Ambisi Keberlanjutan PGE
PGE’s Sustainability Ambition
Menjadi Perusahaan Energi Global Terkemuka dan Bereputasi Baik
serta Diakui Sebagai Perusahaan yang:
To be a Leading and Reputable Global Energy Company:
Ramah Lingkungan
Environmentally Friendly
Menerapkan Tanggung Jawab Sosial
Implements Social Responsibility
Memiliki Tata Kelola yang Baik
Has Good Governance
Strategi Keberlanjutan PGE
PGE’s Sustainability Strategy
PGE menerapkan strategi keberlanjutan melalui berbagai inisiatif yang terintegrasi
dan selaras dengan proses bisnis Perseroan.
PGE implements its sustainability strategy through various initiatives that are integrated
and aligned with the Company’s business processes.
Nature People And Socioeconomic
Zero Emission Transformation Catalyst
PT Pertamina Geothermal Energy Tbk
Page 10
Ikhtisar
Pencapaian
Performance Highlights
2025
Total Aset Ekuitas Pendapatan Usaha
Total Assets Equity Operating Revenue
USD3.034.451 USD2.045.563 USD432.726
Ribu | Thousands Ribu | Thousands Ribu | Thousands
1,24% Meningkat
Increased 1,83% Meningkat
Increased 6,29% Meningkat
Increased
Produksi Operasi Sendiri Laba Bersih Rasio Pembayaran Dividen
Own Operational Production Net Profit Dividend Payout Ratio (DPO)
5.095,49 GWh USD137.667
Ribu | Thousands
85%
5,56% Meningkat
Increased 14,12% Menurun
Decreased 8,28% Meningkat
Increased
ROA ROE ROI
Return on Assets Return on Equity Return on Investment
Rasio Keuangan
4,54% 6,73% 24,04%
Financial Ratios
PT Pertamina Geothermal Energy Tbk
Page 11
9
MENCIPTAKAN DAMPAK POSITIF
YANG BERKELANJUTAN
CREATING A SUSTAINABLE POSITIVE IMPACT
Bauran Energi Terbarukan Penghindaran Emisi
Renewable Energy Mix Avoided Emissions
94,36%
Operasional Perseroan
4.291.102,02 TCO eq 2
menggunakan energi terbarukan
The Company’s operations utilize
Penghindaran Emisi VS emisi
renewable energy
Pembangkit Batu Bara
Emissions Avoidance VS
Emissions from Coal-Fired
Power Plants
Total Limbah Direduksi
Total Waste Reduced
70,51%
Limbah B3
Intensitas Emisi
Emission Intensity
41,12
Hazardous Waste
38,88%
Limbah Non-B3 Lebih rendah dibandingkan
gr CO2eq
Non-Hazardous Waste dengan Taksonomi Uni Eropa
100 gr CO2eq/kWh
Dilakukan Reduce, Reuse, Lower than the European
Union Taxonomy of 100 gr
Recycle, Recovery (4R) CO2eq/kWh
Waste Managed (4R)
Program Konservasi Penyedia Kredit Karbon
Conservation Program Carbon Credit Provider
200.764 TCO eq
19 Terjual sepanjang 2025
Sales throughout 2025
2
Program Konservasi Flora dan Fauna
Flora and Fauna Conservation Program
PT Pertamina Geothermal Energy Tbk
Page 12
Menerapkan
Tanggung Jawab Sosial
Implementing Corporate Social Responsibility
Ketenagakerjaan, Pemasok, dan Layanan Pelanggan
Implementing Social Responsibility Employment, Supplier, and Customer Service
Tingkat Kepuasan Pekerja Jam Kerja Aman Tingkat Perputaran Pekerja Pengembangan Pekerja Perempuan
Employee Satisfaction Level Safe Working Hours Employee Turnover Rate Development of Female Workers
4,35/5,00 6.316.295 0,2%
Organisasi Pengembangan dan
Pemberdayaan Pekerja Perempuan
Organization for the Development
and Empowerment of Female Workers
Jam | Hours
Jam Pelatihan Kerja Pemasok Lokal Tingkat Kepuasan Pelanggan
Training Hours Local Suppliers Customer Satisfaction Level
73 Jam 91,79 % 97,19/100
Rata-rata Pelatihan Persentase Jumlah Tingkat Produk dan
per Pekerja Pemasok Lokal Layanan dalam
Average Training Percentage of Local Memenuhi Harapan
per Worker Suppliers Konsumen
Level’s of Product
and Services in
Fullfiling Customer’s
Expectation
Pemberdayaan Masyarakat
Community Empowerment
31.233 Orang | Person Rp13,04 Miliar | Billion
Penerima Manfaat Pembangunan Realisasi Dana Kegiatan TJSL
Infrastruktur di Sekitar Wilayah Realization of CSR Activity Funds
Operasional PGE
Beneficiaries of Infrastructure
Development Around PGE’s
Operational Area
PT Pertamina Geothermal Energy Tbk
Page 13
Menerapkan Tata
Kelola yang Baik
Implementing Good Governance
Lorem Ipsum Adispacing Lorem Ipsum Adispacing
Tata Nilai Perusahaan Tingkat Kepatuhan LHKPN
Corporate Value Compliance Level LHKPN
100 %
Implementasi tata nilai AKHLAK melalui Living Core Values (LCV) sejak tahun
State Official Wealth Report
2022 dengan pencapaian maturity level “Commitment” pada Tahun 2025. (LHKPN) Compliance Rate
The implementation of AKHLAK core values through Living Core Values (LCV)
since 2022, achieving a ‘Commitment’ maturity level in 2025
Keamanan Siber Komitmen Ati Korupsi
Cybersecurity Anti-Corruption Commitment
Memiliki struktur tata kelola untuk Menerapkan Sistem
menjaga keamanan siber Manajemen Anti Penyuapan
Has a governance structure (SMAP) di seluruh area
to maintain cybersecurity Perseroan sejak tahun 2021
Implementing an Anti-Bribery
Management System (SMAP)
across all areas of the
Company since 2021
Skor Asesmen GCG Skor Penerapan GCG
GCG Assessment Score GCG Implementation Score
93,85 122,52
ACGS - Leadership in Corporate
Skor Asesmen GCG berdasarkan Governance
parameter BUMN
GCG Assessment Score based Skor Penerapan GCG Berdasarkan
on SOE parameters ASEAN Corporate Governance
Scorecard
GCG Assessment Score Based on
ASEAN Corporate Governance
Scorecard
Hasil Asesmen
Assessment Results
Hasil asesmen GCG berdasarkan Peraturan Otoritas Jasa Keuangan (POJK) 21/2015
dan berdasarkan ketentuan Pedoman Umum Governansi Korporasi Indonesia (PUGKI)
GCG assessment results based on Financial Services Authority Regulation (POJK) 21/2015
and the General Guidelines for Indonesian Corporate Governance (PUGKI)
PT Pertamina Geothermal Energy Tbk
Page 14
APRESIASI
EKSTERNAL
TERHADAP
PENCAPAIAN
ESG PGE
EXTERNAL APPRECIATION OF
SIGNIFICANT ACHIEVEMENTS
ESG RATING
ESG Rating 2025 ESG Top-Rated Company versi Sustainalytics
2025 ESG Top-Rated Company according to Sustainalytics
7,1
Negligible Risk
PGE tercatat dalam jajaran 50 perusahaan global dengan
peringkat ESG terbaik berdasarkan penilaian terhadap
15.000 perusahaan di 42 negara, dan menjadi satu-satunya
perusahaan Indonesia yang meraih pengakuan tersebut.
PGE is listed among the 50 global companies with the best
ESG ratings based on an assessment of 15,000 companies
in 42 countries and is the only Indonesian company
to receive this recognition.
PT Pertamina Geothermal Energy Tbk
Page 15
PROPER Emas
Program Penilaian Peringkat Kinerja Perusahaan (PROPER)
Public Disclosure Program for Environmental Compliance
14 Kali | Times
3
Kali | Times
Area Kamojang Area Ulubelu
PGE menerima penghargaan PROPER Emas
sebanyak 14 kali berturut-turut untuk Area
Kamojang dan 3 kali berturut-turut untuk Area
Ulubelu.
PGE has received the Gold PROPER award 14
consecutive times for the Kamojang Area and three
consecutive times for the Ulubelu Area.
PT Pertamina Geothermal Energy Tbk
Page 16
14 Laporan Tahunan 2025 | 2025 Annual Report PT Pertamina Geothermal Energy Tbk
Page 17
Laporan Tahunan 2025 | 2025 Annual Report 15
01
Ikhtisar
Kinerja
Keuangan
Financial Performance Highlights
PT Pertamina Geothermal Energy Tbk
Page 18
16 Laporan Tahunan 2025 | 2025 Annual Report
Ikhtisar Keuangan
Financial Highlights
Posisi Keuangan
Financial Position
(USD Ribu) (US$ Thousand)
Aset 2025 2024 2023 Assets
Aset Assets
Aset Lancar 880.973 828.555 863.278 Current Assets
Investasi pada Ventura Bersama 12.133 12.093 11.640 Investment in Joint Ventures
Aset Tidak Lancar 2.141.345 2.168.847 2.100.863 Non-Current Assets
Jumlah Aset 3.034.451 2.997.402 2.964.141 Total Assets
Liabilitas Liabilities
Liabilitas Jangka Pendek 214.299 227.296 244.104 Current Liabilities
Liabilitas Jangka Panjang 774.589 761.354 748.781 Non-Current Liabilities
Jumlah Liabilitas 988.888 988.650 992.885 Total Liabilities
Ekuitas Equity
Jumlah Ekuitas 2.045.563 2.008.752 1.971.256 Total Equity
Liabilitas dan Ekuitas 3.034.451 2.997.402 2.964.141 Liabilities and Equity
Laba (Rugi) dan Penghasilan Komprehensif Lainnya
Profit (Loss) and Other Comprehensive Income
(USD Ribu) (US$ Thousand)
Aset 2025 2024 2023 Assets
Pendapatan Usaha 432.726 407.120 406.288 Revenue
Beban pokok pendapatan dan beban
(199.662) (166.721) (158.352) Cost of revenue and other direct cost
langsung lainnya
Laba Bruto 233.064 240.399 247.936 Gross Profit
Beban umum dan administrasi (30.684) (29.671) (26.151) General and administrative expenses
Pendapatan keuangan 28.221 33.565 22.171 Finance income
Pendapatan/(Beban) lain-lain, bersih 3.191 (457) 4.270 Other Income/(Expenses), net
Laba usaha 205.571 210.271 226.055 Operating profit
Beban Keuangan (30.284) (32.114) (24.215) Finance costs
Laba sebelum Beban Pajak
195.914 228.159 240.961 Profit before Income Tax Expense
Penghasilan
Beban pajak penghasilan (58.247) (67.857) (77.391) Income tax expense
Laba Tahun Berjalan 137.667 160.302 163.570 Profit for the Year
Penghasilan komprehensif Comprehensive income
Pos-pos yang tidak akan Items that will not be
direklasifikasi ke laba rugi reclassified to profit or loss
Pengukuran kembali atas liabilitas Net remeasurement of defined benefits
(1.864) 1.664 (271)
imbalan pasti neto liability
PT Pertamina Geothermal Energy Tbk
Page 19
Laporan Tahunan 2025 | 2025 Annual Report 17
(USD Ribu) (US$ Thousand)
Aset 2025 2024 2023 Assets
(Kerugian)/keuntungan nilai wajar Net fair value gain/(loss) on equity
5.312 (4.812) 3.408
aset bersih atas investasi ekuitas investment
(Rugi)/penghasilan komprehensif lain, Other comprehensive (loss)/income,
3.448 (3.148) 3.137
neto setelah pajak net of tax
Jumlah penghasilan komprehensif Total comprehensive income for the
141.115 157.154 166.707
tahun berjalan year
Laba tahun berjalan yang dapat
Profit for the year attributable to:
diatribusikan kepada:
Pemilik Entitas Induk 137.697 160.494 163.594 Owners of the parent entity
Kepentingan non-pengendali (30) (192) (24) Non-controlling interest
Jumlah 137.667 160.302 163.570 Total
Penghasilan komprehensif tahun
Comprehensive income for the year
berjalan yang dapat diatribusikan
attributable to:
kepada:
Pemilik Entitas Induk 141.145 157.346 166.731 Owners of the parent entity
Kepentingan non-pengendali (30) (192) (24) Non-controlling interest
Jumlah 141.115 157.154 166.707 Total
Laba per saham dasar (nilai penuh) 0,0033 0,0039 0,0040 Basic earnings per share (full amount)
Arus Kas
Cash Flow
(USD Ribu) (US$ Thousand)
Aset 2025 2024 2023 Assets
Arus Kas dari Aktivitas Operasi 313.523 258.284 255.190 Cash Flows from Operating Activities
Arus Kas dari Aktivitas Investasi (82.407) (100.934) (78.480) Cash Flows from Investing Activities
Arus Kas dari Aktivitas Pendanaan (172.544) (191.139) 238.906 Cash Flows from Financing Activities
Kenaikan/(Penurunan) Neto Net Increase/(Decrease)
58.572 (33.789) 415.616
Kas dan Setara Kas in Cash and Cash Equivalents
Saldo Kas dan Setara Kas pada Cash and Cash Equivalents
655.191 677.717 262.302
Awal Tahun at Beginning of the Year
Efek Perubahan Nilai Kurs pada Effect of Exchange Rate Changes
4.736 11.263 (201)
Kas dan Setara Kas on Cash and Cash Equivalents
Saldo Kas dan Setara Kas pada Cash and Cash Equivalents at End
718.499 655.191 677.717
Akhir Tahun of the Year
PT Pertamina Geothermal Energy Tbk
Page 20
18 Laporan Tahunan 2025 | 2025 Annual Report
Rasio Keuangan Penting
Key Financial Ratios
(USD Ribu) (US$ Thousand)
Uraian Satuan 2025 2024 2023 Unit Assets
Rasio Profitabilitas Profitability Ratio
Imbal Balik
% 6,73 7,98 8,30 % Return on Equity
terhadap Ekuitas
Imbal Balik Return on
% 24,04 30,15 30,90 %
terhadap Investasi Investment
Imbal Balik
% 4,54 5,35 5,52 % Return on Assets
terhadap Aset
Margin Laba Operating Profit
% 47,51 51,65 65,27 %
Usaha Margin
Margin Laba
% 31,81 39,37 40,26 % Net Profit Margin
Bersih
Rasio Likuiditas Liquidity Ratio
Rasio Kas % 335,28 288,26 277,63 % Cash Ratio
Rasio Lancar % 411,10 364,53 353,65 % Current Ratio
Rasio Efisiensi Efficiency Ratio
Periode Collectability
Hari 53,01 58,25 61,91 Day
Kolektibilitas Period
Perputaran Total Total Assets
% 14,35 13,66 14,94 %
Aset Turnover
Rasio Solvabilitas Solvency Ratio
Rasio Modal Capital to Total
% 67,41 67,02 66,50 %
terhadap Aset Assets Ratio
Rasio Liabilitas Debt to Equity
% 48,34 49,22 50,37 %
terhadap Ekuitas Ratio
Rasio Liabilitas Debt to Assets
% 32,59 32,98 33,50 %
terhadap Aset Ratio
Time Interest Time Interest
x 6,68 6,55 9,86 x
Earned Ratio Earned Ratio
PT Pertamina Geothermal Energy Tbk
Page 21
Laporan Tahunan 2025 | 2025 Annual Report 19
Ikhtisar Operasional
Operational Highlights
Kinerja Produksi Uap dan Listrik
Steam and Electricity Production Performance
Aset 2025 2024 2023
Assets GWh GWh GWh
Kamojang
Unit I (Uap | Steam) 217,21 229,08 227,82
Unit II (Uap | Steam) 431,91 417,81 365,47
Unit III (Uap | Steam) 420,42 419,73 385,67
Unit IV (Listrik | Electricity) 480,95 446,28 452,81
Unit V (Listrik | Electricity) 255,91 271,54 261,88
Total Kamojang 1.806,41 1.784,44 1.693,65
Lahendong
Unit I (Uap | Steam) 107,88 132,09 119,99
Unit II (Uap | Steam) 127,88 146,03 134,21
Unit III (Uap | Steam) 125,41 116,79 125,54
Unit IV (Uap | Steam) 161,53 155,03 164,95
Unit V (Listrik | Electricity) 162,24 160,63 162,94
Unit VI (Listrik | Electricity) 163,90 161,77 161,23
Total Lahendong 848,83 872,34 868,86
Ulubelu
Unit I (Uap | Steam) 386,01 409,00 363,58
Unit II (Uap | Steam) 404,63 357,99 404,78
Unit III (Listrik | Electricity) 425,97 410,92 428,38
Unit IV (Listrik | Electricity) 399,92 415,78 409,34
Total Ulubelu 1.616,53 1.593,69 1.606,08
Karaha
Unit I (Listrik | Electricity) 109,63 94,67 96,68
Total Karaha 109,63 94,67 96,68
Lumut Balai
Unit I (Listrik | Electricity) 472,29 482,06 479,31
Unit ll (Listrik | Electricity) 241,81 0 0
Total Lumut Balai 714,10 482,06 479,31
Sibayak
Unit I (Uap | Steam) - - 0
Unit II (Uap | Steam) - - 0
Monoblok - - 0
Total Sibayak - - 0
Grand Total 5.095,49 4.827,22 4.734,57
PT Pertamina Geothermal Energy Tbk
Page 22
20 Laporan Tahunan 2025 | 2025 Annual Report
Ikhtisar Saham
Stock Highlights
Pada tahun 2025, saham PT Pertamina Geothermal Energy Tbk In 2025, stocks of PT Pertamina Geothermal Energy Tbk (ticker
(kode saham: PGEO) dibuka di level Rp940 pada awal code: PGEO) opened at Rp940 at the beginning of the fiscal
perdagangan tahun buku tersebut. Saham PGEO menyentuh year trading. PGEO shares reached the highest price of Rp1,830
harga tertinggi Rp1.830 pada 29 Juli 2025 dan harga terendah on 29 July 2025, and the lowest price of Rp730 on 18 March
Rp730 pada 18 Maret 2025. 2025.
Rata-rata volume perdagangan sepanjang tahun buku mencapai The average trading volume throughout the fiscal year reached
62.286.214 lembar. Pada akhir tahun buku 2025, saham 62,286,214 shares. At the end of the 2025 fiscal year,
PGEO ditutup di harga Rp1.125 dengan kapitalisasi pasar PGEO shares closed at Rp1,125 with a market capitalization
Rp47,04 triliun. of Rp47.04 trillion.
Kinerja Saham PGEO
Stock Performance of PGEO
Harga Saham (Rp) Jumlah
Stock Price (Rp) Saham
Kapitalisasi
Beredar Volume
Pasar (Miliar
(Juta Perdagangan
Tahun Rp)
Lembar) Rata-rata (Lot)
Year Pembukaan Tertinggi Terendah Penutupan Market
Outstanding Average Trading
Opening Highest Lowest Closing Capitalization
Stocks Volume (Lot)
(Rp Billion)
(Million
Stock)
2025
Triwulan 1
940 1.060 730 805 41.508 143.898 34.414
Quarter 1
Triwulan 2
765 1.610 765 1.415 41.508 1.038.240 58.734
Quarter 2
Triwulan 3
1.385 1.830 1.320 1.395 41.808 919.625 58.322
Quarter 3
Triwulan 4
1.375 1.460 1.085 1.125 41.816 426.081 47.043
Quarter 4
2024
Triwulan 1
1.265 1.320 1.175 1.175 41.488 362.419 48.748
Quarter 1
Triwulan 2
1.125 1.335 1.005 1.190 41.495 247.903 49.379
Quarter 2
Triwulan 3
1.220 1.315 1.115 1.135 41.495 161.016 47.097
Quarter 3
Triwulan 4
1.125 1.185 900 935 41.508 131.179 38.810
Quarter 4
Rasio Saham PGEO
PGEO Stock Ratio
2025 2024
Harga Penutupan (Rp)
1.125 935
Closing Price (Rp)
Laba Bersih per Saham (Rp)
54,23 62,5
Net Earnings per Share (Rp)
Nilai Buku per Saham (Rp)
817,9 781,9
Book Value per Share (Rp)
P/E (x) 20,74 15,0
P/BV (x) 1,4 1,2
PT Pertamina Geothermal Energy Tbk
Page 23
Laporan Tahunan 2025 | 2025 Annual Report 21
Grafik Pergerakan Harga Saham PGEO
Chart of PGEO Stock Price Movements
Rp1.830/
lembar|share
1800
1500
1400
1200
1125
Rp940/ 1000
lembar|share
800
Rp730/
lembar|share
Jan 15 Jan 31 Feb 14 Feb 28 Mar 14 Mar 27 Apr 15 Apr 30 May 15 May 28 Jun 16 Jun 30 Jun 15 Jun 31 Aug 15 Aug 29 Sep 15 Sep 30 Oct 15 Oct 31 Nov 14 Nov 28 Dec 15 Dec 31
Penilaian Konsensus Consensus Rating
Pada tahun 2025, saham PGEO dinilai memberikan harapan In 2025, PGEO stocks were considered to offer positive prospects
positif bagi para investor. Hal itu terlihat dari 15 atau 78,95% for investors. It is 15 or 78.95% of analysts recommend buying,
analis yang memberikan rekomendasi beli, namun tidak ada with no recommendations to sell. Meanwhile, 15.79% or 3
rekomendasi untuk jual. Sedangkan untuk yang menyarankan analysts suggest holding.
tahan ada 15,79% atau 3 analis.
Konsensus tersebut mencerminkan tingkat kepercayaan pasar The consensus reflects a high level of market confidence in the
yang tinggi terhadap kinerja dan prospek pertumbuhan Perseroan. Company’s performance and growth prospects. Supported
Dengan fundamental yang solid serta potensi pengembangan by solid fundamentals and sustainable business development
bisnis yang berkelanjutan, saham PGE dinilai sebagai salah satu potential, PGE’s shares are considered one of the attractive
emiten yang layak untuk dikoleksi oleh investor. investment options for investors.
Rekomendasi Analis atas Saham PGEO
Analyst Recommendation for PGEO Stock
Perusahan Sekuritas Nama Analis Rekomendasi Target Harga Tanggal Publikasi
No
Securities Firm Analyst Name Recommendations Price Target Publication Date
1 PT BRI Danareksa Sekuritas Timothy Wijaya Tahan | Hold 1.250 27 Mei 2025 | 27 May 2025
2 Phillip Sekuritas Helen Vincentia Beli | Buy 1.550 2 Juli 2025 | 2 July 2025
Tidak memberikan
3 Panin Sekuritas Sarkia Adelia rekomendasi - 18 Juli 2025 | 28 July 2025
No recommendation
4 UOB Kay Hian Sekuritas Wilinoy Sitorus Beli | Buy 1.400 28 Agustus 2025 | 28 August 2025
5 RHB Sekuritas Indonesia Team Coverage Beli | Buy 1.830 12 September 2025
6 Trimegah Sekuritas Sabrina Beli | Buy 1.750 14 September 2025
7 PT Sinarmas Sekuritas Inav Haria Chandra Beli | Buy 2.400 22 September 2025
8 PT Valbury Asia Sekuritas Laurencia Hiemas Beli | Buy 1.600 23 September 2025
9 Bahana Sekuritas Jeremy Mikael Beli | Buy 1.700 24 September 2025
10 PT Ina Sekuritas Indonesia Team Coverage Beli | Buy 1.900 26 September 2025
11 Maybank Sekuritas Indonesia Etta Rusdiana Putra Beli | Buy 1.750 27 Oktober 2025 | 27 October 2025
12 Mandiri Sekuritas Henry Tedja Tahan | Hold 1.600 27 Oktober 2025 | 27 October 2025
13 CLSA Sekuritas Indonesia Wirandi Ng Beli | Buy 1.880 27 Oktober 2025 | 27 October 2025
14 UBS Sekuritas Indonesia Timothy Handerson Beli | Buy 1.780 4 November 2025
15 MNC Sekuritas Christian Sitorus Beli | Buy 1.705 18 November 2025
16 OCBC Sekuritas Devi Harjoto Beli | Buy 1.500 4 Desember 2025 | 4 December 2025
17 Indo Premier Sekuritas Ryan Winipta Tahan | Hold 1.650 4 Desember 2025 | 4 December 2025
18 DBS Sekuritas William Simadiputra Beli | Buy 1.780 5 Desember 2025 | 5 December 2025
PT Pertamina Geothermal Energy Tbk
Page 24
22 Laporan Tahunan 2025 | 2025 Annual Report
Perusahan Sekuritas Nama Analis Rekomendasi Target Harga Tanggal Publikasi
No
Securities Firm Analyst Name Recommendations Price Target Publication Date
19 Yuanta Sekuritas Chandra Pasaribu Beli | Buy 1.800 10 Desember 2025 | 10 December 2025
Rata-Rata Target Harga | Average Target Price 1.622
Rangkuman Rekomendasi Saham PGEO
PGEO Stock Recommendation Summary
Rekomendasi Jumlah
Recommendation Total
Beli
15
Buy
Jual
0
Sell
Tahan
3
Hold
Tidak memberikan rekomendasi
1
No specific recommendation is provided
Total 19
Indeks Saham Stock Indices
Selain Indeks Harga Saham Gabungan (IHSG), hingga akhir tahun In addition to the Composite Stock Price Index (IHSG), until the
2025, saham PGEO termasuk ke dalam berbagai indeks saham end of 2025, PGEO shares were included in various stock indices
yang ada di Bursa Efek Indonesia sebagai berikut: on the Indonesia Stock Exchange as follows:
Indeks Saham Keterangan
Stock Indices Description
LQ45 Indeks yang mengukur kinerja harga dari 45 saham yang memiliki likuiditas tinggi dan kapitalisasi pasar besar yang didukung
oleh kinerja fundamental perusahaan yang baik.
An index that measures the price performance of 45 highly liquid stocks with large market capitalization, driven by strong
fundamental company performance.
ESG Sector Indeks yang berisikan saham-saham dengan hasil penilaian kinerja ESG di atas rata-rata sektornya, serta memiliki likuiditas yang
Leaders IDX Kehati baik. ESG Sector Leaders IDX Kehati diluncurkan dan dikelola bersama Yayasan Keanekaragaman Hayati Indonesia (Yayasan
KEHATI).
The index comprises stocks that have ESG performance ratings above their sector average, along with good liquidity. The ESG
Sector Leaders IDX Kehati was launched and is jointly managed by the Indonesian Biodiversity Foundation (KEHATI Foundation).
ESG Quality 45 Indeks yang berisikan 45 saham terbaik dari hasil penilaian kinerja ESG dan kualitas keuangan perusahaan yang didukung oleh
IDX Kehati likuiditas yang baik. ESG Quality 45 IDX Kehati diluncurkan dan dikelola bersama Yayasan KEHATI.
The index comprises 45 top-tier stocks selected based on an evaluation of their ESG performance and financial quality,
supported by solid liquidity. The ESG Quality 45 IDX Kehati is launched and co-managed by the KEHATI Foundation.
AKSI KORPORASI CORPORATE ACTION
Sepanjang tahun 2025, Perseroan tidak melakukan aksi Throughout 2025, the Company did not undertake any corporate
korporasi yang menyebabkan perubahan pada nilai saham. actions that caused changes in the stock value. Therefore, detailed
Dengan demikian, rincian informasi tidak dapat disampaikan. information cannot be provided.
Penghentian Sementara Perdagangan Suspension of Stock Trading and
Saham dan Penghapusan Pencatatan Delisting of Stocks
Saham
Hingga 31 Desember 2025 tidak terdapat penghentian Until 31 December 2025, there were no suspension and/or
sementara perdagangan saham (suspension) dan atau delisting of the Company’s stocks with the ticker code PGEO.
penghapusan pencatatan saham (delisting) saham Perseroan
dengan kode saham PGEO.
PT Pertamina Geothermal Energy Tbk
Page 25
Laporan Tahunan 2025 | 2025 Annual Report 23
Ikhtisar Obligasi
Bond Highlights
Pada tanggal 27 April 2023, Perusahaan menerbitkan 400 Juta On April 27, 2023, the Company issued USD400 million in debt
USD surat utang berupa green bond, yang akan jatuh tempo securities in the form of a green bond, maturing on April 27,
pada tanggal 27 April 2028. Adapun Wali Amanat atas obligasi 2028. The trustee for this bond is The Bank of New York Mellon.
ini adalah The Bank of New York Mellon. Obligasi ini dicatatkan The bond is listed on the Singapore Exchange Securities Trading
pada Singapore Exchange Securities Trading Limited (SGX-ST). Limited. Further details on the debt securities and the bond price
Uraian lebih lanjut mengenai efek utang dan pergerakan harga movements are presented in the following table and chart:
obligasi tersebut disampaikan pada tabel dan grafik berikut ini:
Peringkat Kredit
Tingkat Tanggal Jatuh Credit Rating
Uraian Nilai Tanggal Penerbitan
Bunga Tempo Lembaga
Description Value Issuance Date
Interest Rate Maturity Date Pemeringkat Rating Outlook
Rating Agency
Moody’s Baa3 Stable
Green Bond PGE USD400.000.000 5,15% 27 April 2023 27 April 2028
Fitch Ratings BBB- Stable
Grafik Pergerakan Harga Obligasi
Chart of Bond Price Movements
101.766
101.499
101.000
100.500
100.000
99,52 99,500
Feb 28 Mar 14 Mar 31 Apr 15 Apr 30 May 15 May 30 Jun 16 Jun 30 Jul 15 Jul 31 Aug 15 Aug 29 Sep 15 Sep 30 Oct 15 Oct 31 Nov 14 Nov 28 Dec 15 Dec 31
PT Pertamina Geothermal Energy Tbk
Page 26
24 Laporan Tahunan 2025 | 2025 Annual Report
Penghargaan dan Sertifikasi
Awards and Certification
Nama Penghargaan Institusi yang Memberikan Penghargaan Tanggal
No.
Name of Award Awarding Agency Date
1 The Guardian Indonesia Green Awards (IGA) 2025: La Tofi School of Social Responsibility 15 Januari 2025
Kategori Kemandirian Ekonomi untuk Komunitas
15 January 2025
Economic Independence for Communities Category
2 Bronze 17th Global CSR & ESG Summit Award: Pinnacle Group International 26 Februari 2025
Kategori Best Community Programme Award
26 February 2025
Best Community Programme Award Category
Platinum 17th Global CSR& ESG Summit Award 2025: Pinnacle Group International 26 Februari 2025
Kategori Best Country Excellence in Indonesia
26 February 2025
Best Country Excellence in Indonesia Category
3 Program Penilaian Peringkat Kinerja Perusahaan dalam Kementerian Lingkungan Hidup dan Kehutanan 26 Februari 2025
Pengelolaan Lingkungan Hidup (PROPER)
• Area Kamojang berhasil meraih penghargaan PROPER Ministry of Environmental and Forestry 26 February 2025
Emas untuk ke-14 kalinya
• Area Ulubelu berhasil meraih penghargaan PROPER Emas
untuk ke-3 kalinya.
Company Performance Rating Assessment Program in
Environmental Management (PROPER)
• The Kamojang Area successfully received the PROPER Gold
award for the 14th time
• The Ulubelu Area successfully received the PROPER Gold
award for the 3rd time.
4 Penghargaan Patra Adikriya Bhumi Madya 2025 PT Pertamina (Persero) 26 Februari 2025
Patra Adikriya Bhumi Madya 2025 Award 26 February 2025
5 Best CEO Awards 2024 Majalah SWA 4 Maret 2025
SWA Magazine 4 March 2025
6 The 17th Annual Global CSR & ESG Summit Awards 2025 The Pinnacle Group International 13 Maret 2025
• PLATINUM – Best Country Excellence Indonesia untuk Area
Lahendong 13 March 2025
• BRONZE – Best Community Programme Award untuk Area
Ulubelu
• PLATINUM – Best Country Excellence Indonesia for
Lahendong Area
• BRONZE – Best Community Programme Award for Ulubelu
Area
7 Tanggamus Award: Kategori Partisipasi Aktif Perusahaan Pemerintah Kabupaten Tanggamus 17 April 2025
dalam Melaksanakan Program CSR Bidang Pemberdayaan
Masyarakat Tahun 2025 Tanggamus Regency Government
Active Corporate Participation in CSR Programs for Community
Empowerment Category
8 Anugerah Tanggung Jawab Sosial dan Lingkungan Perusahaan Pemerintah Provinsi Lampung 7 Mei 2025
Tahun 2025
Kategori Platinum - Penghargaan CSR Award 2025 untuk Lampung Provincial Government 7 May 2025
Area Ulubelu
Corporate Social and Environmental Responsibility Award
2025
Platinum Category - CSR Award 2025 for Ulubelu Area
9 Diamond Award - Indonesia Regulatory Compliance Awards Hukumonline 9 Mei 2025
(IRCA) 2025
9 May 2025
10 Platinum Annual Pertamina Quality Awards (APQ) 2025 PT Pertamina (Persero) 22 Mei 2025
22 May 2025
PT Pertamina Geothermal Energy Tbk
Page 27
Laporan Tahunan 2025 | 2025 Annual Report 25
PT Pertamina Geothermal Energy Tbk
Page 28
26 Laporan Tahunan 2025 | 2025 Annual Report
Nama Penghargaan Institusi yang Memberikan Penghargaan Tanggal
No.
Name of Award Awarding Agency Date
11 Annual Pertamina Quality (APQ) Award 2025 PT Pertamina (Persero) 27 Mei 2025
Platinum Award:
• Project Collaboration (PC) Prove Geoflowtest 27 May 2025
• Function Team (FT) Prove COLAB
• Project Collaboration (PC) Prove Power Rangers
• Function Team (FT) Prove Lab Rocker
• Juara 1 kategori The Sustainability Excellence (PGE Area
Kamojang)
• Juara 3 kategori The Most Productive CIP’er
• Juara 3 kategori The Best KOMET Influencer
• Juara 3 kategori The Best System Assurance.
• 1st place in The Sustainability Excellence category (PGE
Area Kamojang)
• 3rd place in The Most Productive CIP’er category
• 3rd place in The Best KOMET Influencer category
• 3rd place in The Best System Assurance category.
12 2nd Place CSR Jabar Awards: Kategori Sustainability Pemerintah Provinsi Jawa Barat 3 Juni 2025
2nd Place CSR Jabar Awards: Sustainability Category West Java Provincial Government 3 June 2025
Local Champion Winner CSR Jabar Awards Pemerintah Provinsi Jawa Barat 3 Juni 2025
West Java Provincial Government 3 June 2025
13 Winner of the Asia Responsible Enterprise Awards (AREA) Enterprise Asia (A non-governmental 27 Juni 2025
2025: Kategori Social Empowerment organisation for entrepreneurship)
27 June 2025
14 Gold International CSR Excellence Award 2025: The Green Organisation 30 Juni 2025
• Kategori Fuel, Power and Energy: Waste Management/
Social Empowerment 30 June 2025
• Kategori Corporate Social Responsibility (CSR) Program
Initiative
• Fuel, Power and Energy Category: Waste Management/
Social Empowerment
• Corporate Social Responsibility (CSR) Program Initiative
Category
15 Platinum Indonesia Social Responsibilty Awards (ISRA) 2025: Prospectus Media by Arjuna Wijaya Karya 10 Juli 2025
Kategori Economic Empowerment
10 July 2025
Gold Indonesia Social Responsibilty Awards (ISRA) 2025: Prospectus Media by Arjuna Wijaya Karya 10 Juli 2025
Kategori Economic Empowerment
10 July 2025
Silver Indonesia Social Responsibilty Awards (ISRA) 2025: Prospectus Media by Arjuna Wijaya Karya 10 Juli 2025
Kategori Economic Empowerment
10 July 2025
16 Kategori Excellent - Indonesia Best Employee Engagement SWA Media Group & Business Digest 10 Juli 2025
2025
10 July 2025
Excellent Category - Indonesia Best Employee Engagement
2025
17 Gold Award - 2024 Vision Awards Annual Report Competition League of American Communication 29 Agustus 2025
Professionals (LACP)
29 August 2025
Rank 28 Worldwide - 2024 Vision Awards Annual Report League of American Communication 29 Agustus 2025
Competition Professionals (LACP)
29 August 2025
18 Silver Winner category Traditional Annual Report : Energy - MerComm, Inc 29 Agustus 2025
39th International ARC Awards
29 August 2025
Honors Award category Photography : Energy - 39 th
MerComm, Inc 29 Agustus 2025
International ARC Awards
29 August 2025
PT Pertamina Geothermal Energy Tbk
Page 29
Laporan Tahunan 2025 | 2025 Annual Report 27
PT PERTAMINA GEOTHERMAL ENERGY Tbk AREA KARAHA
GOLD 2025
St Paul’s Cathedral, London
Monday June 30th, 2025
30/06/2025
LEADERSHIP AWARD
This Certificate is awarded to
Julfi Hadi
Direktur Utama PT Pertamina Geothermal Energy Tbk
as
Best CEO
Category : Turnover > Rp 1 Trillion – Rp 10 Trillion
Based on The 4 Essential Roles of Leadership Survey
SWA and Dunamis Organization
Jakarta, February 14th, 2025
Kemal Effendi Gani Tommy Sudjarwadi
Chief Editor Swa Media Group Partner Dunamis Organization
Inovasi Lingkungan Pengelolaan Sampah
Kategori
PT PERTAMINA GEOTHERMAL ENERGY TBK
AREA LAHENDONG
Penghargaan kepada:
Pemenang Inovasi Khusus Ketahanan Pangan
PT PERTAMINA GEOTHERMAL ENERGY TBK Ketaha nan Pangan
“KATRILI”
AREA LAHENDONG
“GECO (Geothermal Eco-Furniture)” Yang diselenggarakan oleh PT SUCOFINDO (PERSERO)
di Birawa Assembly Hall - Bidakara Hotel, Jakarta
Jakarta, 16 September 2025
PT SUCOFINDO (PERSERO)
4229.305/SERCO-IX/ENSIA/2025 Jobi Triananda 4230.1/SERCO-IX/ENSIA/2025
Direktur Utama
PT Pertamina Geothermal Energy Tbk
Page 30
28 Laporan Tahunan 2025 | 2025 Annual Report
Nama Penghargaan Institusi yang Memberikan Penghargaan Tanggal
No.
Name of Award Awarding Agency Date
19 Environmental & Social Innovation Awards (ENSIA) 2025 PT Sucofindo 16 September 2025
Area Ulubelu
• Inovasi Sosial Eloc Bestari meraih penghargaan Platinum 16 September 2025
• Program Andan Jejama meraih Penghargaan Inovasi Khusus
kategori Ketahanan Pangan
• Local Hero Inspiratif Pemberdayaan Perempuan
Area Kamojang
• Inovasi Sosial Gemah Karsa meraih penghargaan Gold
• Program Geo Fert meraih penghargaan Inovasi Khusus
kategori Ketahanan Pangan
• Inovasi Lingkungan meraih penghargaan Silver
Area Lahendong
• Booster Katrili meraih Penghargaan Inovasi Khusus kategori
Ketahanan Pangan
• Inovasi Lingkungan GECO meraih penghargaan platinum
PGE Area Karaha
• Inovasi Sosial Pupuk Combine meraih penghargaan Silver
Environmental & Social Innovation Awards (ENSIA) 2025
Ulubelu Area
• Eloc Bestari Social Innovation won Platinum award
• Andan Jejama Program won Special Innovation Award in
the Food Security category
• Inspirational Local Hero for Women's Empowerment
Kamojang Area
• Gemah Karsa Social Innovation won Gold award
• Geo Fert Program won Special Innovation Award in the
Food Security category
• Environmental Innovation won Silver award
Lahendong Area
• Booster Katrili won Special Innovation Award in the Food
Security category
• GECO Environmental Innovation won Platinum award
PGE Karaha Area
• Pupuk Combine Social Innovation won Silver award
20 Platinum BISRA-Program Gemah Karsa 2025 Bisnis Indonesia 30 September 2025
Platinum BISRA-Program Eloc Bestari 2025 Bisnis Indonesia 30 September 2025
Platinum BISRA-Program Booter Katrili 2025 Bisnis Indonesia 30 September 2025
Platinum BISRA-Program Eco Edu Wisata Kampung Kopi 2025 Bisnis Indonesia 30 September 2025
21 The Winner of ASEAN Renewable Energy Project Awards Kementerian Peralihan Tenaga dan 16 Oktober 2025
dalam kategori Off Grid Thermal atas inovasi Geothermal Transformasi Air (PETRA) Malaysia
Organic Fertilizer (GeO-Fert) 16 October 2025
Ministry of Energy Transition and Water
The Winner of ASEAN Renewable Energy Project Awards Transformation (PETRA) Malaysia
in the Off Grid Thermal category for Geothermal Organic
Fertilizer (GeO-Fert) innovation
22 Subroto Award 2025: Kategori Bidang Pengembangan dan Kementerian Energi dan Sumber Daya Mineral 24 Oktober 2025
Pemberdayaan Masyarakat (PPM) Panas Bumi (ESDM)
Geothermal Community Development and Empowerment Ministry of Energy and Mineral Resources 24 October 2025
Category
PT Pertamina Geothermal Energy Tbk
Page 31
Laporan Tahunan 2025 | 2025 Annual Report 29
Nama Penghargaan Institusi yang Memberikan Penghargaan Tanggal
No.
Name of Award Awarding Agency Date
23 Subroto Awards 2025 Kementerian Energi dan Sumber Daya Mineral 25 Oktober 2025
• Area Lumut Balai (ESDM) Republik Indonesia
Juara 1 kategori Inovasi Bidang Keselamatan dan Kesehatan 25 October 2025
Kerja (K3) Panas Bumi Ministry of Energy and Mineral Resources
• Area Lahendong (EMR) of the Republic of Indonesia
Juara 1 kategori Program Pengembangan dan
Pemberdayaan Masyarakat (PPM) Panas Bumi
Subroto Awards 2025
• Lumut Balai Area
1st place in the Innovation Category for Occupational Safety
and Health (OSH) in Geothermal
• Lahendong Area
1st place in the Community Development and Empowerment
Program (PPM) in Geothermal
24 Gold Medal - International Trade Fair Ideas, Inventions and International Trade Fair Ideas, Inventions and 3 November 2025
New Products (IENA) 2025 New Products (IENA) 2025
Special Award dari Taiwan Creative Design Association International Trade Fair Ideas, Inventions and 3 November 2025
(TCDA) untuk kategori Prominent Invention. New Products (IENA) 2025
Special Award from Taiwan Creative Design Association
(TCDA) for the Prominent Invention category.
25 Silver Medal - International Trade Fair Ideas, Inventions and International Trade Fair Ideas, Inventions and 3 November 2025
New Products (IENA) 2025 New Products (IENA) 2025
26 Thailand Award for The Best International Invention & National Research Council of Thailand (NRCT) 3 November 2025
Innovation
27 ESG Appreciation 2025 kategori Environment & Sustainability B-Universe 20 November 2025
ESG Appreciation 2025 in the Environment & Sustainability
category
28 Platinum Temu Karya Mutu dan Produktivitas Nasional PT Wahana Kendali Mutu & Asosiasi 28 November 2025
(TKMPN) 2024 Manajemen Mutu & Produktivitas Indonesia
Platinum Temu Karya Mutu dan Produktivitas Nasional PT Wahana Kendali Mutu & Asosiasi 28 November 2025
(TKMPN) 2024 Manajemen Mutu & Produktivitas Indonesia
29 Special Prize - Seoul International Invention Fair (SIIF) Korea Invention Promotion Association (KIPA) 6 Desember 2025
6 December 2025
Gold Prize - Seoul International Invention Fair (SIIF) Korea Invention Promotion Association (KIPA) 6 Desember 2025
6 December 2025
30 The Iconomics Summit 2025 The Iconomics 17 Desember 2025
• Best Corporate Secretary Awards 2025
• Best PR Leader 2025 17 December 2025
PT Pertamina Geothermal Energy Tbk
Page 32
30 Laporan Tahunan 2025 | 2025 Annual Report
Sertifikasi
Certifications
Daftar Sertifikasi
List of Certification
No Lembaga yang
Nama Sertifikasi Deskripsi Lingkup Sertifikasi Tanggal Kadaluarsa
Menerbitkan
Name of Certification Description Scope of Certification Expiration Date
Issuing Agency
1 ISO 20000-1:2018 IT Service Management Kantor Pusat British Standards 23 September 2027
System Institution (BSI)
Head Office 23 September 2027
2 ISO 17025:2017 Akreditasi Area Kamojang Komite Akreditasi 26 Juni 2029
Sistem Manajemen Nasional (KAN)
Mutu Laboratorium
Accreditation of Kamojang Area National Accreditation 26 June 2029
Laboratory Quality Committee (KAN)
Management System
3 ISO 9001:2015 Quality Management Kantor Pusat & Seluruh British Standards 27 Mei 2027
System Area PGE Institution (BSI)
Head Office & All PGE 27 May 2027
Areas
4 ISO 45001:2018 Occupational Health Kantor Pusat & Seluruh British Standards 27 Mei 2027
& Safety Management Area PGE Institution (BSI)
System
Head Office & All PGE 27 May 2027
Areas
5 ISO 14001:2015 Environmental Kantor Pusat & Seluruh British Standards 29 Mei 2027
Management Area PGE Institution (BSI)
System
Head Office & All PGE 29 May 2027
Areas
6 ISO 37001:2016 Sistem Manajemen Kantor Pusat & Proyek British Standards 25 November 2026
Anti Penyuapan Hululais, serta seluruh Institution (BSI)
area PGE
Anti-Bribery Management Head Office & Hululais 25 November 2026
System Project, and All PGE
Areas
7 ISO 22301:2019 Sistem Manajemen Kantor Pusat TUV SUD PSB Pte Ltd 13 November 2026
Kelangsungan Bisnis
Business Continuity Head Office 13 November 2026
Management System
8 ISO 27001:2022 Sistem Manajemen Kantor Pusat British Standards 12 Desember 2026
Keamanan Institution (BSI)
Informasi
Information Security Head Office 12 December 2026
Management System
PT Pertamina Geothermal Energy Tbk
Page 33
Laporan Tahunan 2025 | 2025 Annual Report 31
Paten
Patent
Tanggal Diberi Klaim yang Diberi Paten
Negara Judul Paten
No. Paten (Granted)
Country Patent Title
Issuance Date Granted Claims
1 Indonesia 9 Oktober 2023 Klaim atas metode & alat Pengukuran real-time laju alir massa dan entalpi dua fasa dengan
menggunakan alat ukur perbedaan tekanan.
9 October 2023 Claims on methods & tools Real-time measurement of two-phase mass flow rate and enthalpy using
pressure differential devices.
2 Amerika Serikat 11 Juli 2023 Klaim atas metode Pengukuran real-time laju alir massa dan entalpi dua fasa dengan
menggunakan alat ukur perbedaan tekanan.
United States 11 July 2023 Claim on methods Real-time measurement of two-phase mass flow rate and enthalpy using
pressure differential devices.
3 Selandia Baru 29 Agustus 2023 Klaim atas metode & alat Pengukuran real-time laju alir massa dan entalpi dua fasa dengan
menggunakan alat ukur perbedaan tekanan.
New Zealand 29 August 2023 Claims on methods & tools Real-time measurement of two-phase mass flow rate and enthalpy using
pressure differential devices.
4 Islandia 15 Juli 2024 Klaim atas metode Pengukuran real-time laju alir massa dan entalpi dua fasa dengan
menggunakan alat ukur perbedaan tekanan.
Iceland 15 July 2024 Claim on methods Real-time measurement of two-phase mass flow rate and enthalpy using
pressure differential devices.
5 Filipina 5 Juli 2024 Klaim atas metode Pengukuran real-time laju alir massa dan entalpi dua fasa dengan
menggunakan alat ukur perbedaan tekanan.
Philippines 5 July 2024 Claim on methods Real-time measurement of two-phase mass flow rate and enthalpy using
pressure differential devices.
6 Turki 21 Desember 2022 Klaim atas metode & alat Pengukuran real-time laju alir massa dan entalpi dua fasa dengan
menggunakan alat ukur perbedaan tekanan.
Turkiye 21 December 2022 Claims on methods & tools Real-time measurement of two-phase mass flow rate and enthalpy using
pressure differential devices.
7 Indonesia 22 Juli 2024 Klaim atas metode Metode pembuatan pupuk organik padat berbahan baku brine
geothermal dan potongan rumput liar menjadi produk compost brine.
22 July 2024 Claim on methods Method of making solid organic fertilizer from geothermal brine and wild
grass cuttings into compost brine products
8 Indonesia 22 Juli 2024 Klaim atas alat Mempercepat proses pengeringan kopi arabika Canaya di PGE area
Kamojang dengan geothermal dryhouse.
22 July 2024 Claim on tools Accelerating the drying process of Canaya arabika coffee at PGE
Kamojang area with geothermal dryhouse
9 Indonesia 22 Juli 2024 Klaim atas metode Komposisi Pupuk Kompos dari brine geothermal dan rumput liar.
22 July 2024 Claim on methods Composition of Compost Fertilizer from geothermal brine and wild grass.
10 Indonesia 8 Mei 2025 Klaim atas metode & alat Perangkat Portabel dan Real Time Uji Produksi Sumur Geothermal.
8 May 2025 Claims on methods & tools Portable and Real-Time Device for Testing Geothermal Well Production.
11 Indonesia 14 Juli 2025 Klaim atas metode & alat Pengatur Suhu Rumah Kaca (Green house) otomatis dengan
memanfaatkan energi panas bumi pada area pegunungan.
14 July 2025 Claims on methods & tools Automatic Greenhouse Temperature Regulator utilizing geothermal in
mountainous areas.
12 Indonesia 10 September 2025 Klaim atas metode Metode pemanfaatan Air Kondensat HVAC (Heating, Ventilation, and Air
Conditioning) sebagai Make Up Water pada sistem air pendingin CCWS
(Closed Cooling Water System)
10 September 2025 Claim on methods Method of utilizing HVAC (Heating, Ventilation, and Air Conditioning)
Condensate Water as Make-up Water in the CCWS (Closed Cooling
Water System)
13 Indonesia 11 November 2025 Klaim atas metode & alat Alat Pengering Pupuk Organik menggunakan Panas Bumi.
11 November 2025 Claims on methods & tools Organic Fertilizer Dryer using Geothermal.
PT Pertamina Geothermal Energy Tbk
Page 34
32 Laporan Tahunan 2025 | 2025 Annual Report
Peristiwa Penting
Event Highlights
PGE Berpartisipasi di PT Pertamina Geothermal Energy Tbk menegaskan posisinya
“Abu Dhabi Sustainability sebagai perusahaan energi hijau kelas dunia melalui
Week (ADSW) 2025” partisipasinya dalam Abu Dhabi Sustainability Week (ADSW)
PGE Participated in “Abu Dhabi 2025 yang berlangsung pada 14-16 Januari 2025.
Sustainability Week (ADSW) 2025”
PT Pertamina Geothermal Energy Tbk reaffirmed its position as
a world-class green energy company through its participation
in Abu Dhabi Sustainability Week (ADSW) 2025 on 14-16
January 2025.
14-16
Januari | January 2025
PGE Masuk Daftar PGE menjadi satu-satunya perusahaan Indonesia yang masuk
“2025 ESG Top-Rated Company dalam daftar “2025 ESG Top-Rated Company” yang dirilis oleh
oleh Sustainalytics” Sustainalytics, lembaga pemeringkatan internasional yang fokus
PGE is in the list of “2025 ESG Top- pada penilaian risiko Environmental, Social, and Governance
Rated Company by Sustainalytics” (ESG).
PGE is the only Indonesian company included in the “2025
ESG Top-Rated Company” list released by Sustainalytics,
an international rating agency that focuses on assessing
Environmental, Social, and Governance (ESG) risks.
24
Januari | January 2025
PT Pertamina Geothermal Energy Tbk
Page 35
Laporan Tahunan 2025 | 2025 Annual Report 33
Kerja Sama PGE dan Pertagas: Dua anak usaha PT Pertamina (Persero), yakni
“Penggunaan Listrik dari Panas PT Pertamina Geothermal Energy Tbk dan PT Pertamina Gas
Bumi untuk Beyond Energy” (Pertagas) menandatangani Joint Study Agreement (JSA) untuk
PGE and Pertagas Collaboration: “Using mengkaji pengembangan hidrogen hijau sebagai bagian
Electricity from Geothermal for Beyond dari sinergi Pertamina Group dalam mendukung agenda
Energy” dekarbonisasi.
Two subsidiaries of PT Pertamina (Persero), namely
PT Pertamina Geothermal Energy Tbk and PT Pertamina Gas
(Pertagas), signed a Joint Study Agreement (JSA) to examine
green hydrogen development as part of the Pertamina Group’s
synergy in supporting the decarbonization agenda.
05
Februari | February 2025
PGE dan Sinopec Star Kerja PT Pertamina Geothermal Energy Tbk dan
Sama Pengembangan Energi Sinopec Star Co, Ltd. resmi menjalin kerja sama dalam
Panas Bumi pengembangan energi panas bumi. Kolaborasi ini mencakup
PGE and Sinopec Star Collaborate on eksplorasi pemanfaatan energi panas bumi, termasuk peluang
Geothermal Development pengembangan hidrogen hijau di Indonesia, Tiongkok,
dan pasar global lainnya.
PT Pertamina Geothermal Energy Tbk and
Sinopec Star Co, Ltd. officially established a partnership
in the development of geothermal energy. This collaboration
includes the exploration of geothermal energy utilization,
including opportunities for green hydrogen development
in Indonesia, China, and other global markets.
19
Februari | February 2025
PT Pertamina Geothermal Energy Tbk
Page 36
34 Laporan Tahunan 2025 | 2025 Annual Report
Peristiwa Penting
Event Highlights
PGE Pertahankan PROPER Emas PT Pertamina Geothermal Energy Tbk (PGE) melalui PGE Area
ke-14 Berturut-turut Kamojang, kembali menorehkan prestasi gemilang dengan
PGE Maintains 14th Consecutive Gold meraih penghargaan PROPER Emas untuk ke-14 kalinya secara
PROPER Award berturut-turut. Penghargaan ini diberikan oleh Kementerian
Lingkungan Hidup dan Kehutanan (KLHK) sebagai pengakuan
atas kinerja lingkungan yang melampaui kepatuhan
dan kontribusi terhadap kesejahteraan sosial secara
berkelanjutan.
PT Pertamina Geothermal Energy Tbk (PGE), through PGE
Kamojang Area, once again achieved remarkable success
by receiving the PROPER Gold award for the 14th consecutive
time. This award is given by the Ministry of Environment
and Forestry (KLHK) as recognition of environmental
performance that exceeds compliance and contributes
to sustainable social welfare.
25
Februari | February 2025
PGE Kerja Sama dengan PT Pertamina Geothermal Energy Tbk menandatangani Joint
Perusahaan Energi Turki Study Agreement (JSA) dengan perusahaan energi asal Turki,
PGE Collaborates with Turkish Energy Zorlu Enerji Elektrik Üretim A.S. Penandatanganan tersebut
Company dilakukan di Ankara, Turki, pada Kamis, 10 April 2024
ini disaksikan langsung oleh Menteri Koordinator Bidang
Perekonomian RI Airlangga Hartarto, dan Menteri Pertanian
dan Kehutanan Turki Ibrahim Yumakli. Kegiatan ini merupakan
bagian dari Turkiye-Indonesia CEO Roundtable Meeting
yang diselenggarakan oleh KADIN Indonesia dan The Foreign
Economic Relations Board of Turkey (DEIK).
PT Pertamina Geothermal Energy Tbk signed a Joint Study
Agreement (JSA) with the Turkish energy company, Zorlu Enerji
Elektrik Üretim A.S. The signing took place in Ankara, Turkey,
on Thursday, 10 April 2024. It was witnessed directly
by the Coordinating Minister for Economic Affairs
of the Republic of Indonesia, Airlangga Hartarto,
10 and the Minister of Agriculture and Forestry of Turkey, Ibrahim
Yumakli. This activity is part of the Turkiye-Indonesia CEO
April 2025
Roundtable Meeting organized by KADIN Indonesia
and the Foreign Economic Relations Board of Turkey (DEIK).
PT Pertamina Geothermal Energy Tbk
Page 37
Laporan Tahunan 2025 | 2025 Annual Report 35
Rekor Baru PGE di Annual PT Pertamina Geothermal Energy Tbk mencetak rekor baru
Pertamina Quality (APQ) Award dalam ajang Annual Pertamina Quality (APQ) Award 2025
New Record for PGE at the Annual dengan meraih empat penghargaan Platinum sekaligus.
Pertamina Quality (APQ) Award Capaian ini menegaskan komitmen PGE terhadap kualitas
operasional dan inovasi berkelanjutan di sektor energi hijau.
PT Pertamina Geothermal Energy Tbk set a new record
at the Annual Pertamina Quality (APQ) Award 2025 by winning
four Platinum awards simultaneously. This achievement reaffirms
PGE’s commitment to operational quality and sustainable
innovation in the green energy sector.
27
Mei | May 2025
PGE Laporankan Kinerja Positif PT Pertamina Geothermal Energy Tbk telah menyelenggarakan
di RUPS Tahun Buku 2024 Rapat Umum Pemegang Saham Tahunan (RUPST) Tahun Buku
PGE Reports Positive Performance at the 2024 pada Selasa 3 Juni di Jakarta yang dihadiri oleh Direksi,
AGMS for the 2024 financial year Dewan Komisaris, serta para pemegang saham. Dalam
RUPST ini, para pemegang saham PGEO menyetujui alokasi
laba bersih perusahaan, yang terdiri dari pembagian dividen
sebesar USD136,4 juta dan penyisihan laba ditahan sebesar
USD24 juta.
PT Pertamina Geothermal Energy Tbk held its Annual General
Meeting of Shareholders (AGMS) for the 2024 financial year
on Tuesday 3 June in Jakarta, attended by the Board
of Directors, Board of Commissioners, and shareholders.
In this AGMS, PGEO shareholders approved the allocation
of the Company’s net profit, which consists of a dividend
distribution of US$136.4 million and a retained earnings
allowance of US$24 million.
18
Juni | June 2025
PT Pertamina Geothermal Energy Tbk
Page 38
36 Laporan Tahunan 2025 | 2025 Annual Report
Peristiwa Penting
Event Highlights
Presiden Prabowo Resmikan Presiden Republik Indonesia Prabowo Subianto secara hibrida
Proyek Energi Terbarukan di meresmikan pembangunan dan pengoperasian proyek energi
15 Provinsi, Termasuk Milik PGE terbarukan yang tersebar di 15 provinsi di Indonesia, Kamis,
President Prabowo Inaugurates 16 Juni 2025. Salah satu proyek yang turut diresmikan adalah
Renewable Energy Projects in proyek eksplorasi (green field) Pembangkit Listrik Tenaga Panas
15 Provinces, Including Those Owned Bumi (PLTP) Gunung Tiga sebesar 55 megawatt (MW) milik
by PGE PT Pertamina Geothermal Energy Tbk.
The President of the Republic of Indonesia, Prabowo Subianto,
hybridly inaugurated the construction and operation
of renewable energy projects spread across 15 provinces
in Indonesia on Thursday, 16 June 2025). One of the projects
inaugurated was the exploration (green field) project
of the Gunung Tiga GPP with a capacity of 55 megawatts
(MW) owned by PT Pertamina Geothermal Energy Tbk.
26
Juni | June 2025
PLTP Lumut Balai Unit 2 PT Pertamina Geothermal Energy Tbk berhasil menyelesaikan
Beroperasi Penuh tahapan penting dalam operasionalisasi Pembangkit Listrik
Lumut Balai Unit 2 GPP is Fully Tenaga Panas Bumi (PLTP) Lumut Balai Unit 2 dengan kapasitas
Operating 55 megawatt (MW). Setelah melewati pengujian Unit Rated
Capacity (URC) selama 72 jam berturut-turut dan dinyatakan
layak operasi melalui penerbitan Surat Layak Operasi (SLO)
pada 29 Juni 2025, pembangkit ini kini beroperasi penuh
dan menyalurkan listrik ke jaringan nasional. Dengan tambahan
tersebut, PGE kini mengelola kapasitas terpasang sebesar
727 MW.
PT Pertamina Geothermal Energy Tbk completed an important
stage in the operationalization of the Lumut Balai Unit 2 GPP
with a capacity of 55 megawatts (MW). After passing the Unit
Rated Capacity (URC) test for 72 consecutive hours and being
declared operational through the issuance of the Certificate
of Feasibility for Operation (SLO) on 29 June 2025,
30 this power plant is now fully operational and supplying
electricity to the national grid. With this addition, PGE now
Juni | June 2025
manages an installed capacity of 727 MW.
PT Pertamina Geothermal Energy Tbk
Page 39
Laporan Tahunan 2025 | 2025 Annual Report 37
PGE Bawa Kopi Kamojang PT Pertamina Geothermal Energy Tbk bersama para petani kopi
Tembus Pasar Asia dan Eropa Kamojang mengadakan ‘Panen Bersama dan Ekspor Perdana
PGE Brings Kamojang Coffee to Asian Kopi Geotermal Kamojang’ di Desa Laksana, Kecamatan Ibun,
and European Markets Kabupaten Bandung, yang berada di sekitar Wilayah Kerja
Panas Bumi (WKP) Kamojang, pada Jumat, 18 Juli 2025.
Adapun biji kopi yang dipanen berasal dari dua varietas
arabika unggulan, yaitu Andungsari dan USDA.
PT Pertamina Geothermal Energy Tbk together with Kamojang
coffee farmers held the ‘Joint Harvest and First Export
of Kamojang Geothermal Coffee’ in Laksana Village, Ibun
District, Bandung Regency, which is located around
the Kamojang Geothermal Working Area (WKP), on Friday,
18 July 2025. The coffee beans harvested come from two
superior arabica varieties, Andungsari and USDA.
18
Juli | July 2025
PGE Gandeng PLN IP Dua Badan Usaha Milik Negara (BUMN) di sektor energi,
Kembangkan Proyek Panas PT Pertamina (Persero) dan PT PLN (Persero), menandatangani
Bumi 530 MW Nota Kesepahaman (MoU) dalam pengembangan energi panas
PGE Partners with PLN IP to Develop 530 bumi untuk pembangkit listrik sebagai bagian dari agenda
MW Geothermal Project ketahanan energi nasional dan percepatan transisi menuju
energi bersih.
Two energy State-Owned Enterprises (SOEs), PT Pertamina
(Persero) and PT PLN (Persero), signed a Memorandum
of Understanding (MoU) of the development of geothermal
energy for power plants as part of the national energy resilience
agenda and the acceleration of the transition to clean energy.
12
Agustus | August 2025
PT Pertamina Geothermal Energy Tbk
Page 40
38 Laporan Tahunan 2025 | 2025 Annual Report
Peristiwa Penting
Event Highlights
PGE Tunjuk Gigih Udi Atmo PT Pertamina Geothermal Energy Tbk mengumumkan
sebagai Komisaris Utama penunjukan Gigih Udi Atmo sebagai Komisaris Utama,
Perseroan menggantikan posisi Sarman Simanjorang. Penunjukan ini
PGE Appoints Gigih Udi Atmo as the diumumkan dalam Rapat Umum Pemegang Saham Luar Biasa
Company’s President Commissioner (RUPSLB) yang digelar di Grha Pertamina, Jakarta,
Rabu, 20 Agustus.
PT Pertamina Geothermal Energy Tbk announced
the appointment of Gigih Udi Atmo as the President
Commissioner, replacing Sarman Simanjorang. It was
announced during the Extraordinary General Meeting
of Shareholders (EGMS) held at Grha Pertamina, Jakarta,
on Wednesday, 20 August.
20
Agustus | August 2025
PGE Luncurkan Pilot Project PT Pertamina Geothermal Energy Tbk menegaskan langkah
Green Hydrogen Berbasis strategisnya menuju beyond electricity dengan meluncurkan Pilot
Panas Bumi Project Green Hydrogen (Hidrogen Hijau) Ulubelu. Proyek ini
PGE Launches Geothermal-Based Green menjadi bagian penting dari upaya PGE membangun ekosistem
Hydrogen Pilot Project green hydrogen secara end-to-end, mulai dari produksi,
distribusi, hingga pemanfaatannya untuk mendukung transisi
menuju industri rendah karbon.
PT Pertamina Geothermal Energy Tbk affirmed its strategic
move toward beyond electricity by launching the Ulubelu Green
Hydrogen Pilot Project. This project is a vital part of PGE’s
efforts to build an end-to-end green hydrogen ecosystem,
from production and distribution to its utilization in supporting
the transition to a low-carbon industry.
10
September 2025
PT Pertamina Geothermal Energy Tbk
Page 41
Laporan Tahunan 2025 | 2025 Annual Report 39
PGE Menggelar Public PT Pertamina Geothermal Energy Tbk menggelar Public Expose
Expose 2025 PGEO 2025 di Jakarta, pada Senin, 3 November 2025.
PGE Helds Public Expose 2025 Agenda ini menjadi sarana Perseroan untuk menyampaikan
kinerja keuangan dan operasional hingga akhir September
2025, sekaligus memaparkan strategi pencapaian target
kapasitas terpasang 1 gigawatt (GW) dalam 2–3 tahun
mendatang dan 1,8 GW pada 2033.
PT Pertamina Geothermal Energy Tbk held the PGEO 2025
Public Expose in Jakarta on Monday, 3 November 2025.
This agenda serves as a platform for the Company to present
its financial and operational performance up to the end of
September 2025, while also presenting the strategy to achieve
the target installed capacity of 1 gigawatt (GW) in the next 2–3
years and 1.8 GW by 2033.
03
November 2025
PGE Area Lahendong menjadi PT Pertamina Geothermal Energy Tbk Area Lahendong
Destinasi Studi Delegasi Kenya menerima kunjungan Delegasi Republik Kenya untuk melihat
PGE Lahendong Area Becomes Study langsung pengembangan panas bumi di Indonesia, pada Rabu,
Destination for Kenyan Delegation 12 November 2025. Kunjungan ini bagian dari rangkaian
kegiatan South-South and Triangular Cooperation (SSTC)
Indonesia–Jerman–Kenya melalui program Renewable Energy
Mini Grids for Triangular Cooperation in Indonesia (ENTRI),
sebuah inisiatif yang mendorong pertukaran pengetahuan,
penguatan kapasitas, serta kolaborasi pembangunan
berkelanjutan energi terbarukan antarnegara berkembang.
PT Pertamina Geothermal Energy Tbk Lahendong Area received
a visit from the Delegation of the Republic of Kenya to directly
observe geothermal development in Indonesia on Wednesday,
12 November 2025. This visit is part of the South-South and
Triangular Cooperation (SSTC) Indonesia–Germany–Kenya
12 activities through the Renewable Energy Mini Grids for
Triangular Cooperation in Indonesia (ENTRI) program, an
November 2025 initiative that promotes knowledge exchange, capacity building,
and sustainable renewable energy development collaboration
among developing countries.
PT Pertamina Geothermal Energy Tbk
Page 42
40 Laporan Tahunan 2025 | 2025 Annual Report
Peristiwa Penting
Event Highlights
Empat Proyek PGE Masuk Blue PGE memperkuat posisinya sebagai pemimpin dalam pengembangan
Book Bappenas 2025-2029 energi bersih nasional. Hal ini dibuktikan dengan ditetapkannya
Four PGE Projects Are in Bappenas Blue empat proyek strategis panas bumi PGE dalam Blue Book 2025–2029
Book 2025-2029 oleh Kementerian PPN/Bappenas. Penetapan ini merupakan hasil
pengajuan resmi PGE melalui PT Pertamina (Persero) yang menjadi
tonggak penting dalam mengembangkan potensi panas bumi sebagai
tulang punggung transisi energi nasional. Dengan masuk dalam Blue
Book, proyek PGE akan didukung pembiayaan konsesional dengan
nilai Indikatif USD613 Juta untuk dorong pengembangan panas bumi
3 GW.
PGE strengthens its position as a leader in the development
of national clean energy. It is supported by the inclusion of four
strategic geothermal projects by PGE in the Blue Book 2025–2029
by the Ministry of National Development Planning/National
Development Planning Agency (PPN/Bappenas). This inclusion
is the result of PGE’s official submission through PT Pertamina (Persero),
04 which marks a crucial milestone in developing geothermal potential
as the backbone of national energy transition. By being included
Desember | December 2025
in the Blue Book, PGE project will be supported by concessional
financing with an indicative value of US$613 million to drive
the development of 3 GW of geothermal energy.
PGE-Ecolab Luncurkan PT Pertamina Geothermal Energy Tbk menegaskan perannya
Flow2Max®, Teknologi sebagai inovator terdepan industri panas bumi Indonesia.
Pengukuran Dua Fasa Bersama Ecolab, PGE resmi meluncurkan Flow2Max®, teknologi
Pertama di Dunia pengukuran dua fasa pertama di dunia yang kini diintegrasikan
PGE-Ecolab Launches Flow2Max®, dengan 3D TRASAR™ Technology untuk memperkuat monitoring
the World’s First Two-Phase dan otomasi operasi panas bumi. Peluncuran yang digelar
Measurement Technology di Jakarta pada Selasa 2 Desember ini menandai dimulainya
komersialisasi Flow2Max® untuk pasar internasional,
menjadikannya inovasi karya anak bangsa yang siap bersaing
di industri energi global.
PT Pertamina Geothermal Energy Tbk reaffirms its role
as a leading innovator in Indonesia’s geothermal industry.
Together with Ecolab, PGE officially launched Flow2Max®,
the world’s first two-phase measurement technology now
integrated with 3D TRASAR™ Technology to enhance monitoring
and automation of geothermal operations. It was held
in Jakarta on Tuesday (2/12), marking the beginning
of the commercialization of Flow2Max® for the international
market, making it a locally developed innovation ready
06 to compete in the global energy industry.
Desember | December 2025
PT Pertamina Geothermal Energy Tbk
Page 43
Laporan Tahunan 2025 | 2025 Annual Report 41
PGE Salurkan Bantuan untuk PT Pertamina Geothermal Energy Tbk bersama Asosiasi
Korban Bencana Alam Sumatera Panasbumi Indonesia (INAGA/API) dan Indonesia Geothermal
PGE Distributes Aid to Victims of Natural Golf Community (IGGC) kembali menunjukkan kepedulian
Disasters in Sumatera dan solidaritas terhadap masyarakat yang terdampak
rangkaian bencana alam di wilayah Sumatera, khususnya
di Provinsi Aceh. Sejak akhir November, kawasan tersebut
dilanda cuaca ekstrem, banjir bandang, serta longsor yang
menyebabkan kerusakan di sejumlah titik permukiman dan
fasilitas umum.
PT Pertamina Geothermal Energy Tbk, together
with the Indonesian Geothermal Association (INAGA/API)
and the Indonesia Geothermal Golf Community (IGGC), once
again demonstrated their care and solidarity toward
the communities affected by a series of natural disasters
in the Sumatra region, particularly in Aceh Province. Since
the end of November, the area had been hit by extreme
11 weather, flash floods, and landslides that caused damage
Desember | December 2025 to several residential areas and public facilities.
Inisiasi Industrialisasi Panas PT Pertamina Geothermal Energy Tbk berkomitmen memperluas
Bumi, PGE Kaji Peluang pemanfaatan energi bersih dengan mengembangkan green
Kembangkan Green Data Center data center berbasis energi panas bumi. Langkah ini diperkuat
Berbasis Panas Bumi Pertama di melalui kolaborasi strategis dengan Indonesia Data Center
Indonesia Provider Organization (IDPRO) dan Fakultas Teknik Universitas
Initiating Geothermal Industrialization, Indonesia. Kesepakatan ini akan menjadi fondasi teknis
PGE Assesses Opportunities to Develop dan komersial bagi peta jalan pengembangan infrastruktur
Indonesia’s First Geothermal-Based green data center, yang selanjutnya jadi dasar untuk masuk
Green Data Center ke tahap implementasi.
PT Pertamina Geothermal Energy Tbk is committed
to expanding the use of clean energy by developing
a geothermal-based green data center. It is reinforced through
a strategic collaboration with the Indonesia Data Center
Provider Organization (IDPRO) and the Faculty of Engineering
at the University of Indonesia. This agreement will serve
as the technical and commercial foundation for the roadmap
of green data center infrastructure development, which will
subsequently form the basis for entering implementation phase.
12
Desember | December 2025
PT Pertamina Geothermal Energy Tbk
Page 44
42 Laporan Tahunan 2025 | 2025 Annual Report
Peristiwa Penting
Event Highlights
Raih Skor Risk Maturity Index PT Pertamina Geothermal Energy Tbk kembali menegaskan
3,7, PGE Tingkatkan Standar komitmennya dalam memperkuat tata kelola perusahaan
Pengelolaan Risiko di Industri dan pengelolaan risiko di seluruh lini bisnis. PGE berhasil
Panas Bumi meraih hasil membanggakan dalam Risk Maturity Assessment
Achieving a Risk Maturity Index Score (RMA) 2025 yang dilakukan oleh lembaga independen
of 3.7, PGE Improves Risk Management Indonesia Risk & Business Advisory (IRBA). Dalam penilaian
Standards in the Geothermal Industry tersebut, PGE ditempatkan pada Fase ‘Praktik yang Baik (+)’
dengan skor Risk Maturity Index (RMI) 3,7 dari 5,0, sebuah
capaian yang mencerminkan kematangan manajemen risiko
yang terus berkembang dari tahun ke tahun.
PT Pertamina Geothermal Energy Tbk reaffirms its commitment
to strengthening corporate governance and risk management
across all business lines. PGE achieved commendable results
in the Risk Maturity Assessment (RMA) 2025 conducted
by the independent institution Indonesia Risk & Business
Advisory (IRBA). In the assessment, PGE was in the ‘Good
Practice (+)’ Phase with a Risk Maturity Index (RMI) score
of 3.7 out of 5.0, an achievement that reflects the continuously
18 evolving maturity of risk management year after year.
Desember | December 2025
Konsorsium PGE-PLN IP Capai Sinergi dua Badan Usaha Milik Negara (BUMN) di sektor
Kesepakatan Tarif Listrik energi, PT Pertamina (Persero) dan PT PLN (Persero), dalam
PGE-PLN IP Consortium Reaches pengembangan energi panas bumi memasuki tahap baru.
Electricity Tariff Agreement Melalui afiliasinya, PT Pertamina Geothermal Energy Tbk (PGE)
(IDX: PGEO) yang berkonsorsium dengan PT PLN Indonesia
Power (PLN IP), resmi mencapai kesepakatan tarif Listrik
bersama PT PLN (Persero) untuk proyek Pembangkit Listrik
Tenaga Panas Bumi (PLTP) Ulubelu Bottoming Unit berkapasitas
30 megawatt (MW).
The synergy between two SOEs in the energy sector,
PT Pertamina (Persero) and PT PLN (Persero), in geothermal
development entered a new phase. Through its affiliate,
PT Pertamina Geothermal Energy Tbk (PGE) (IDX: PGEO), which
is in consortium with PT PLN Indonesia Power (PLN IP), officially
reached an electricity tariff agreement with PT PLN (Persero)
for the 30 megawatts (MW) Ulubelu Bottoming Unit GPP
24 project.
Desember | December 2025
PT Pertamina Geothermal Energy Tbk
Page 45
Laporan Tahunan 2025 | 2025 Annual Report 43
PGE Berbagi Kehangatan untuk PT Pertamina Geothermal Energy Tbk kembali menunjukkan
23 Yayasan di 9 Wilayah komitmennya untuk tumbuh bersama masyarakat, khususnya
PGE Extends a Helping Hand to 23 generasi muda. Melalui program PGE Berbagi, PGE
Foundations in 9 Regions menyalurkan donasi ke 23 yayasan atau desa di berbagai
wilayah Indonesia dengan total penerima manfaat lebih dari
400 anak. Program ini menjadi bagian dari semangat PGE
untuk menghadirkan kehangatan dan manfaat energi panas
bumi tidak hanya dalam bentuk listrik ramah lingkungan, tetapi
juga melalui kontribusi sosial yang berkelanjutan.
PT Pertamina Geothermal Energy Tbk once again demonstrates
its commitment to grow together with the community, especially
the younger generation. Through the PGE Berbagi program,
PGE distributed donations to 23 foundations or villages
in various regions of Indonesia and more than 400 child
beneficiaries. This program is part of PGE’s spirit to bring
warmth and geothermal benefits not only in the form of green
31 electricity but also through sustainable social contributions.
Desember | December 2025
PT Pertamina Geothermal Energy Tbk
Page 46
44 Laporan Tahunan 2025 | 2025 Annual Report PT Pertamina Geothermal Energy Tbk
Page 47
Laporan Tahunan 2025 | 2025 Annual Report 45
02
Laporan
Manajemen
Management Report
PT Pertamina Geothermal Energy Tbk
Page 48
46 Laporan Tahunan 2025 | 2025 Annual Report
Laporan Dewan Komisaris
Report of The Board of Commissioners
Gigih Udi Atmo
Komisaris Utama
President Commissioner
PT Pertamina Geothermal Energy Tbk
Page 49
Laporan Tahunan 2025 | 2025 Annual Report 47
Para Pemegang Saham dan Pemangku Kepentingan yang Dear Esteemed Shareholders and Stakeholders,
Terhormat
Laporan Dewan Komisaris ini disusun sebagai bagian This Report of the Board of Commissioners is presented
dari penyampaian pelaksanaan tugas dan fungsi Dewan as part of the Board’s accountability in carrying out its
Komisaris sesuai dengan ketentuan peraturan perundang- duties and functions in accordance with the prevailing
undangan yang berlaku. Penyusunan laporan ini juga laws and regulations. The preparation of this report also
merupakan wujud komitmen Perseroan terhadap prinsip reflects the Company’s commitment to upholding the
transparansi dan keterbukaan informasi kepada para principles of transparency and disclosure to shareholders
pemegang saham dan pemangku kepentingan. Laporan and stakeholders. This report forms an integral part of the
ini menjadi bagian yang tidak terpisahkan dari Laporan Annual Report of PT Pertamina Geothermal Energy Tbk
Tahunan PT Pertamina Geothermal Energy Tbk (“PGE” (“PGE” or the “Company”) for the financial year ended
atau “Perseroan”) untuk tahun buku yang berakhir pada 31 December 2025.
31 Desember 2025.
Tahun 2025 yang telah dilalui merupakan tahun yang The year 2025, which we have just gone through, remained
masih penuh dengan tantangan, terutama terkait a year full of challenges, particularly concerning global
dengan dinamika global. Kebijakan tarif resiprokal dynamics. The reciprocal tariff policy implemented by the
yang diberlakukan Amerika Serikat (AS) yang menjadi United States (US) placed a new burden on international
beban baru pada perdagangan internasional, ditambah trade, compounded by geopolitical conditions that have
lagi dengan kondisi geopolitik yang belum juga reda, yet to subside, putting the global economy under pressure.
membuat perekonomian global mengalami tekanan.
Dana Moneter Internasional (International Monetary In its October 2025 edition of the World Economic
Fund/IMF) dalam laporan World Economic Outlook edisi Outlook report, the International Monetary Fund (IMF)
Oktober 2025 menilai bahwa perekonomian global assessed that the global economy is still colored by
masih diwarnai oleh ketidakpastian yang berkepanjangan prolonged uncertainty and a rising trend of protectionism.
serta meningkatnya kecenderungan proteksionisme. Furthermore, fiscal vulnerabilities in various countries,
Selain itu, kerentanan fiskal di berbagai negara, potensi the potential for corrections in financial markets, and
koreksi di pasar keuangan, serta melemahnya kapasitas the weakening capacity of policy institutions are factors
institusi kebijakan berpotensi menjadi faktor yang dapat that could potentially disrupt the stability of the global
mengganggu stabilitas perekonomian global. economy.
PT Pertamina Geothermal Energy Tbk
Page 50
48 Laporan Tahunan 2025 | 2025 Annual Report
IMF memproyeksikan pertumbuhan ekonomi global pada The IMF projected global economic growth in 2025 to be around
tahun 2025 berada di kisaran 3,2%, sedikit lebih rendah 3.2%, slightly lower than the 3.3% growth in 2024. This growth
dibandingkan dengan pertumbuhan tahun 2024 yang mencapai is even expected to slow further the following year to around
3,3%. Pertumbuhan tersebut bahkan diperkirakan akan kembali 3.1%. This condition reflects the moderation of global economic
melambat pada tahun berikutnya menjadi sekitar 3,1%. Kondisi growth, which remains overshadowed by geopolitical uncertainty
ini mencerminkan moderasi pertumbuhan ekonomi global and increasing fragmentation of international trade. In the
yang tetap dibayangi oleh ketidakpastian geopolitik dan energy sector, these dynamics also influenced the direction of
meningkatnya fragmentasi perdagangan internasional. Dalam clean energy investment and the acceleration of energy transition
konteks sektor energi, dinamika tersebut turut mempengaruhi agendas in various countries.
arah investasi energi bersih serta percepatan agenda transisi
energi di berbagai negara.
Kendati demikian, perekonomian nasional menunjukkan Nevertheless, the national economy demonstrated strong
daya tahan yang kuat. Badan Pusat Statistik (BPS) mencatat resilience. Statistics Indonesia (BPS) recorded Indonesia’s
pertumbuhan ekonomi Indonesia mencapai 5,11% pada tahun economic growth at 5.11% in 2025, an increase compared to
2025, meningkat dibandingkan dengan pertumbuhan tahun 5.03% growth in 2024.
2024 yang sebesar 5,03%.
Dewan Komisaris berpandangan bahwa Direksi Perseroan The Board of Commissioners views that the Company’s Board of
telah mampu merespons dinamika kondisi eksternal secara Directors has been able to respond appropriately to the dynamics
tepat, sekaligus memanfaatkan momentum pertumbuhan positif of external conditions while effectively leveraging the positive
perekonomian nasional dengan baik. Hal ini tercermin dari momentum of national economic growth. This is reflected in the
semakin efisiennya kinerja operasional, peningkatan kapasitas increasingly efficient operational performance, the expansion
terpasang pembangkit listrik, kondisi keuangan yang solid, serta of installed power generation capacity, the Company’s solid
berbagai pencapaian strategis lainnya sepanjang tahun 2025. financial condition, as well as various other strategic achievements
throughout 2025.
Atas dasar itu, Dewan Komisaris menyampaikan apresiasi atas On this basis, the Board of Commissioners expresses its
berbagai pencapaian yang berhasil direalisasikan Perseroan appreciation for the various accomplishments successfully
pada tahun 2025. Dewan Komisaris menilai bahwa saat ini realized by the Company in 2025. The Board of Commissioners
PGE telah berkembang menjadi perusahaan dengan daya saing believes that PGE has now developed into a company with
yang kuat, baik di tingkat nasional maupun dalam menghadapi strong competitiveness, both at the national level and in facing
kompetisi dengan perusahaan multinasional. Pencapaian ini competition with multinational companies. These achievements
merupakan fondasi penting bagi Perseroan dalam mewujudkan provide a solid foundation for the Company in realizing its
berbagai target strategis di masa mendatang. strategic targets in the years ahead.
Penilaian terhadap Direksi Mengenai Assessment of the Board of Directors
Pengelolaan Perusahaan Regarding Company Management
Sepanjang tahun 2025, Dewan Komisaris memberikan perhatian Throughout 2025, the Board of Commissioners paid special
khusus terhadap pengelolaan kinerja Perseroan, terutama dalam attention to the management of the Company’s performance,
merealisasikan rencana investasi sebagaimana tercantum particularly in realizing the investment plans as outlined in the
dalam Rencana Kerja dan Anggaran Perusahaan (RKAP) 2025. 2025 Company Work Plan and Budget (RKAP). One of the main
Salah satu fokus utama adalah pencapaian target Commercial focuses was the achievement of the Commercial Operation Date
Operation Date (COD) PLTP Lumut Balai Unit 2. (COD) target for the Lumut Balai Unit 2 Geothermal Power Plant
(PLTP).
Dewan Komisaris mencatat bahwa Direksi telah berhasil The Board of Commissioners noted that the Board of Directors
merealisasikan pengoperasian penuh pembangkit tersebut. successfully realized the full operation of the plant. This achievement
Pencapaian ini merupakan tonggak penting yang menunjukkan is an important milestone that demonstrates the Company’s efforts
upaya dan kerja keras Perseroan dalam mengatasi berbagai and hard work in overcoming various challenges encountered
tantangan yang dihadapi selama proses pengembangan during the project development process. In its implementation,
proyek. Dalam pelaksanaannya, pengelolaan para pemangku stakeholder management was also assessed to be running well.
kepentingan (stakeholder management) juga dinilai berjalan
dengan baik.
PT Pertamina Geothermal Energy Tbk
Page 51
Laporan Tahunan 2025 | 2025 Annual Report 49
Bagi Dewan Komisaris, keberhasilan mencapai COD PLTP Lumut For us, the successful achievement of the COD for PLTP Lumut Balai
Balai Unit 2 merupakan milestone strategis bagi Perseroan pada Unit 2 was a strategic milestone for the Company in 2025. The
tahun 2025. Beroperasinya pembangkit ini menambah kapasitas operation of this plant, which increases the Company’s production
produksi Perseroan sebesar 55 MW, merupakan pencapaian capacity by 55 MW, represents a strategic achievement
strategis yang memperkuat portofolio pembangkit Perseroan, that strengthens the Company’s power plant portfolio, while
sekaligus mendukung agenda nasional dalam pengembangan also supporting the national agenda for geothermal energy
energi panas bumi di Indonesia. development in Indonesia.
Perhatian lain Dewan Komisaris sepanjang tahun 2025 Another concern of the Board of Commissioners throughout 2025
berkaitan dengan optimalisasi pemanfaatan aset Perseroan. related to optimizing the utilization of the Company’s assets. We
Dewan Komisaris mencermati bahwa sejumlah pembangkit observed that a number of power plants were operating optimally
telah beroperasi secara optimal dari sisi teknis, namun tingkat from a technical perspective; however, their offtake/absorption
penyerapannya masih dapat ditingkatkan seiring dengan rates could still be increased in line with rising electricity demand,
meningkatnya permintaan listrik, sebagaimana terlihat pada PLTP as seen at the Kamojang PLTP and Lahendong PLTP.
Kamojang maupun PLTP Lahendong.
Dewan Komisaris mencatat bahwa Perseroan berhasil The Board of Commissioners noted that the Company successfully
menuntaskan tantangan tersebut melalui program optimalisasi resolved this challenge through planned and constructive
pembangkitan yang terencana dan konstruktif. Hasilnya, PLTP generation optimization programs. As a result, the Kamojang
Kamojang mampu mencatatkan kinerja produksi yang sangat PLTP was able to achieve excellent production performance and
baik serta berkontribusi terhadap pencapaian tingkat produksi contributed to the Company’s highest-ever production levels in
tertinggi Perseroan sepanjang sejarah operasinya, baik dari sisi its operating history, both in terms of production volume and its
volume produksi maupun kontribusinya terhadap pendapatan contribution to the Company’s revenue.
Perseroan.
PLTP Kamojang memiliki peran yang sangat penting sebagai The Kamojang Geothermal Power Plant plays a crucial role as a
salah satu penggerak utama industri panas bumi nasional key driver of the national geothermal industry and significantly
sekaligus memberikan kontribusi signifikan dalam mendukung contributes to supporting Indonesia’s energy transition. The plant
proses transisi energi di Indonesia. Saat ini, pembangkit currently has an installed capacity of 235 MW and a power
tersebut memiliki kapasitas terpasang sebesar 235 MW dengan production capacity of approximately 1,806 gigawatt hours
kemampuan produksi listrik sekitar 1.806 gigawatt hour (GWh). (GWh).
Selain itu, Dewan Komisaris juga mencatat keberhasilan In addition, the Board of Commissioners also notes the Company’s
Perseroan dalam melakukan proses pemulihan secara bertahap progress in gradually restoring the performance of power plants
terhadap pembangkit yang mengalami penurunan produksi. that had previously experienced production declines. This
Inisiatif strategis ini menjadi sangat penting mengingat Perseroan strategic initiative remains important as the Company continues
tetap harus memenuhi komitmen kontraktual terhadap off-taker. to meet its contractual commitments to its off-taker.
Dewan Komisaris turut mendukung berbagai inisiatif inovatif We also support the management’s initiatives to promote product
yang dilakukan manajemen dalam mendorong diversifikasi diversification and pursue new business opportunities. In this
produk dan pengembangan peluang bisnis baru. Perseroan regard, the Company should continue broadening its sources of
dinilai perlu terus memperluas sumber nilai tambah dan tidak value creation and reduce dependence on electricity sales to a
hanya bergantung pada penjualan listrik kepada satu off-taker. single off-taker.
Dalam konteks tersebut, Dewan Komisaris mencatat inisiatif In this context, the Board of Commissioners notes the development
pengembangan proyek green hydrogen sebagai pilot project of a green hydrogen project as a pilot project in the Ulubelu Area.
di Area Ulubelu. Proyek ini menjadi bagian penting dari upaya This project represents an important step in the Company’s efforts
Perseroan dalam membangun ekosistem green hydrogen to build an integrated green hydrogen ecosystem, encompassing
secara terintegrasi, mulai dari produksi, distribusi, hingga production, distribution, and utilization to support the transition
pemanfaatannya untuk mendukung transisi menuju industri toward a low-carbon industry.
rendah karbon.
PT Pertamina Geothermal Energy Tbk
Page 52
50 Laporan Tahunan 2025 | 2025 Annual Report
Selain itu, Perseroan juga menginisiasi studi pengembangan Furthermore, the Company has initiated a study on the
green data center di Area Kamojang. Fasilitas ini dirancang development of a green data center in the Kamojang Area.
sebagai pusat penyimpanan dan pengolahan infrastruktur This facility is designed as a center for storing and processing
teknologi informasi yang mengedepankan efisiensi energi dan information technology infrastructure that prioritizes energy
bersumber dari energi baru terbarukan. efficiency and is powered by renewable energy sources.
Berbagai inisiatif yang dijalankan Perseroan tersebut diharapkan The various initiatives undertaken by the Company are expected
dapat memberikan dampak positif bagi pengembangan usaha di to deliver positive impacts on business development in the future,
masa mendatang, seiring dengan terbukanya potensi penciptaan in line with the potential creation of multiple revenue streams.
multiple revenue streams. Hal ini pada akhirnya akan memperkuat Ultimately, these initiatives will strengthen the sustainability of the
keberlanjutan kinerja Perseroan dalam jangka panjang. Company’s long-term performance.
Kendati demikian, Dewan Komisaris berpandangan bahwa Nevertheless, the Board of Commissioners is of the view that
manajemen tetap perlu menjaga komitmen yang kuat terhadap management still needs to maintain a strong commitment to
pemenuhan kontrak penjualan listrik kepada PT PLN (Persero) fulfilling the electricity sales contract to PT PLN (Persero) as a top
sebagai prioritas utama, mengingat pemanfaatan energi listrik priority, considering that the use of electrical energy is directly
tersebut berkaitan langsung dengan kepentingan publik. related to the public interest.
Dalam bidang digitalisasi, Dewan Komisaris mencatat bahwa In the area of digitalization, the Board of Commissioners notes that
manajemen telah mengembangkan transformasi digital G-BIONIC management has developed the G-BIONIC digital transformation,
yang memungkinkan integrasi berbagai proses operasional which enables the integration of various operational processes
Perseroan secara lebih terhubung. Melalui sistem ini, Perseroan across the Company in a more interconnected manner. Through
dapat meningkatkan kecepatan pengambilan keputusan strategis this system, the Company is able to enhance the speed of strategic
dan kecepatan respons terhadap berbagai dinamika yang decision-making and improve responsiveness to the various
terjadi di wilayah operasi, mengingat pemantauan maupun dynamics occurring within its operational areas, as operational
intervensi operasional dapat dilakukan secara lebih efektif dari monitoring and intervention can be conducted more effectively
kantor pusat. from the head office.
Dewan Komisaris berpandangan bahwa berbagai pencapaian The Board of Commissioners views that the successful
penting dalam implementasi strategi dan kebijakan strategis implementation of these strategies and strategic policies reflects
tersebut tidak terlepas dari terjalinnya kolaborasi yang optimal the strong collaboration across the Company’s organization,
di dalam organisasi Perseroan, serta kinerja individual yang baik supported by the solid individual performance delivered by each
dari seluruh unit kerja. work units.
Atas dasar itu, Dewan Komisaris menyampaikan apresiasi On this basis, we extend our appreciation for the Company’s
atas berbagai pencapaian yang berhasil direalisasikan oleh accomplishments realized during 2025.
Perseroan sepanjang tahun 2025.
Pengawasan Dewan Komisaris terhadap Oversight by the Board of
Strategi dan Kebijakan Strategis Commissioners on Strategy and Strategic
Policies
Dalam melaksanakan fungsi pengawasan terhadap kinerja In carrying out its supervisory function over the performance of
Direksi sebagaimana diamanatkan oleh peraturan perundang- the Board of Directors, as mandated by laws and regulations,
undangan, Dewan Komisaris secara rutin menyelenggarakan the Board of Commissioners regularly holds joint meetings with
rapat gabungan dengan Direksi yang dilaksanakan satu the Board of Directors once every month. Through this forum, the
kali setiap bulan. Melalui forum tersebut, Dewan Komisaris Board of Commissioners discusses the Company’s performance
melakukan pembahasan atas perkembangan kinerja Perseroan, developments, strategy implementation, and various other
implementasi strategi, serta berbagai isu strategis lainnya. Selain strategic issues. Additionally, the Board of Commissioners also
itu, Dewan Komisaris juga melakukan management walkthrough conducts management walkthroughs through direct visits to
melalui kunjungan langsung ke wilayah operasi guna meninjau operational areas to review operational activities and gain a more
kegiatan operasional serta memperoleh pemahaman yang lebih comprehensive understanding of the Company’s performance.
komprehensif mengenai kinerja Perseroan.
Selain itu, Dewan Komisaris melalui komite-komite di bawahnya Furthermore, the Board of Commissioners, through its committees,
secara rutin menyelenggarakan rapat setiap minggu untuk conducts weekly meetings to review key findings and address
membahas berbagai temuan dan isu strategis. Rapat reguler strategic matters. These meetings are also convened in response
PT Pertamina Geothermal Energy Tbk
Page 53
Laporan Tahunan 2025 | 2025 Annual Report 51
tersebut juga dilaksanakan sebagai respons atas permintaan to requests or requirements from management. In this forum, the
atau kebutuhan manajemen. Dalam rapat tersebut, komite juga committees examine critical issues in greater depth to support
melakukan pendalaman terhadap berbagai hal yang bersifat effective oversight.
kritikal guna memastikan pengawasan berjalan secara efektif.
Rapat koordinasi yang meliputi rapat internal Dewan Komisaris, Coordination meetings, including internal meetings of the Board
rapat gabungan bersama Direksi, serta rapat bersama of Commissioners, joint meetings with the Board of Directors,
komite-komite di bawah Dewan Komisaris, maupun hasil dari meetings with committees under the Board of Commissioners,
management walkthrough, merupakan bagian dari proses as well as the outcomes of management walkthroughs, are
pengawasan yang dilakukan oleh Dewan Komisaris. Hasil part of the supervisory process carried out by the Board of
dari berbagai forum tersebut menjadi masukan bagi Dewan Commissioners. The results of these various forums provide input
Komisaris dalam menyusun rekomendasi yang disampaikan for the Board of Commissioners in formulating recommendations
kepada Direksi, baik dalam bentuk pemberian nasihat maupun submitted to the Board of Directors, both in the form of providing
usulan inisiatif yang perlu dijalankan oleh manajemen. advice and proposing initiatives that need to be implemented by
management.
Sepanjang tahun 2025, berbagai rekomendasi yang disampaikan Throughout 2025, the various recommendations submitted by the
oleh Dewan Komisaris telah ditindaklanjuti secara baik oleh Board of Commissioners were followed up properly by the Board
Direksi beserta seluruh jajaran manajemen. Dewan Komisaris of Directors and all levels of management. We also view that the
juga memandang bahwa perumusan serta implementasi strategi formulation and implementation of strategies carried out by the
yang dijalankan oleh Direksi telah berada pada arah yang Board of Directors have been on the right track, thus being able
tepat, sehingga mampu menghasilkan kinerja yang optimal dan to produce optimal performance and provide added value for
memberikan nilai tambah bagi Perseroan. the Company.
Pada tahun 2025, Perseroan tetap menetapkan target pencapaian In 2025, the Company maintained its target of achieving an
kapasitas terpasang sebesar 1 GW dalam dua hingga tiga tahun installed capacity of 1 GW within the next two to three years,
mendatang, meningkat menjadi 1,8 GW pada tahun 2033. increasing to 1.8 GW by 2033. Furthermore, the Company is
Selain itu, Perseroan juga berupaya mengoptimalkan potensi also seeking to optimize the potential geothermal reserves of
cadangan panas bumi sebesar 3 gigawatt (GW) sebagai fondasi 3 gigawatts (GW) as a foundation for formulating its long-term
dalam perumusan strategi pertumbuhan jangka panjang. growth strategy.
Kebijakan strategis tersebut terlebih dahulu dikonsultasikan This strategic policy was first discussed with the holding of the
dengan induk Perseroan, PT Pertamina Power Indonesia, guna company, PT Pertamina Power Indonesia, to ensure alignment
memastikan keselarasan arah pengembangan bisnis dalam of business development within the group. Management then
kelompok usaha. Selanjutnya, manajemen menyusun rancangan developed a comprehensive strategic plan to drive the Company’s
strategi yang komprehensif untuk mendorong pertumbuhan growth, both through organic and inorganic development.
Perseroan, baik melalui pengembangan secara organik maupun
anorganik
Dewan Komisaris tidak hanya melakukan pengawasan terhadap The Board of Commissioners not only oversees the Company’s
kinerja usaha dan hasil yang dicapai Perseroan, tetapi juga business performance and results, but also oversees the strategy
terhadap proses perumusan hingga implementasi strategi yang formulation and implementation process undertaken by the
dijalankan oleh Direksi. Dewan Komisaris juga memastikan Board of Directors. The Board of Commissioners also ensures
penerapan tata kelola perusahaan yang baik melalui pemantauan the implementation of good corporate governance by monitoring
atas hasil audit beserta tindak lanjutnya, serta evaluasi terhadap audit results and their follow-up, as well as evaluating governance
kebijakan dan praktik tata kelola yang mendukung peningkatan policies and practices that support the Company’s operational
efisiensi operasional Perseroan. efficiency improvement.
Dewan Komisaris menilai bahwa Direksi telah melaksanakan The Board of Commissioners assesses that the Board of Directors
hal tersebut dengan baik. Hal ini tercermin tidak hanya dalam has implemented these duties effectively. This is reflected not only
pelaksanaan berbagai proyek strategis Perseroan, tetapi in the implementation of the Company’s various strategic projects
juga dalam pengelolaan operasional sehari-hari, termasuk but also in the management of day-to-day operations, including
pengendalian perjalanan dinas yang menjadi perhatian the management’s focus on business travel management as part
manajemen sebagai bagian dari upaya peningkatan efisiensi of efforts to increase efficiency in line with Pertamina (Persero)
sejalan dengan kebijakan Pertamina (Persero). policies.
PT Pertamina Geothermal Energy Tbk
Page 54
52 Laporan Tahunan 2025 | 2025 Annual Report
Pandangan atas Prospek Usaha yang Views on the Business Prospects
Disusun Direksi Prepared by the Board of Directors
Dewan Komisaris mempertimbangkan kondisi internal dan The Board of Commissioners considers both the Company’s
eksternal Perseroan dalam memberikan persetujuan terhadap internal and external conditions in granting approval for the
Rencana Kerja dan Anggaran Perusahaan (RKAP), yang Company’s Work Plan and Budget (RKAP), which outlines the
menggambarkan prospek usaha Perseroan pada tahun Company’s business prospects for the following year.
berikutnya.
Menurut Dewan Komisaris, dalam menyusun prospek usaha In the view of the Board of Commissioners, the Board of
tersebut, Direksi telah mempertimbangkan berbagai potensi Directors has incorporated potential risks and uncertainties
tantangan yang mungkin dihadapi serta telah menyiapkan into the preparation of the Company’s business outlook and
mitigasinya. Selain itu, Direksi juga menjadikan pencapaian has established appropriate mitigation measures. The Board of
tahun buku 2025 sebagai landasan untuk menentukan target- Directors has also used the Company’s performance in the 2025
target usaha di tahun 2026. financial year as the primary reference in setting the business
targets for 2026.
Dewan Komisaris telah memberikan berbagai pertimbangan The Board of Commissioners has provided various strategic
strategis guna mendukung pencapaian kinerja Perseroan pada considerations to support the Company’s performance
tahun 2026. Sebagai perusahaan publik, Perseroan diharapkan achievements in 2026. As a public company, the Company is
mampu terus memberikan sinyal positif terhadap kinerja usaha expected to continue delivering positive signals regarding its
kepada para pemangku kepentingan, khususnya investor, melalui business performance to stakeholders, particularly investors,
pengelolaan bisnis yang solid dan berkelanjutan. through solid and sustainable business management.
Untuk itu, manajemen diharapkan mampu membangun growth Accordingly, management is expected to build a strong growth
story yang kuat guna memperkuat keyakinan pasar terhadap story in order to strengthen market confidence in the Company’s
prospek usaha Perseroan. Sejalan dengan pandangan business prospects. In line with management’s view, the Board of
manajemen, Dewan Komisaris juga meyakini bahwa Commissioners also believes that the Company’s future business
prospek usaha Perseroan ke depan akan terus menunjukkan prospects will continue to show increasingly positive development.
perkembangan yang semakin positif.
Dari sisi strategi, upaya untuk memaksimalkan pemanfaatan From a strategic perspective, efforts to maximize the utilization
aset Perseroan, termasuk kapasitas terpasang sebesar 727 MW, of the Company’s assets, including its installed capacity of
perlu terus dilakukan secara berkesinambungan. Oleh karena 727 MW, need to be carried out consistently and sustainably.
itu, kinerja operasional yang telah menunjukkan performa yang Therefore, the operational performance that has demonstrated
baik sepanjang tahun 2025 perlu terus dijaga keandalannya solid results throughout 2025 must be maintained and further
serta ditingkatkan. Upaya ini tidak hanya akan memberikan enhanced. These efforts will not only contribute positively to
dampak positif terhadap peningkatan kinerja keuangan dari sisi improving financial performance in terms of revenue generation,
pendapatan, tetapi juga mendukung efisiensi dalam pengelolaan but will also support greater efficiency in the management of the
belanja modal Perseroan. Company’s capital expenditure.
Pada saat yang sama, Perseroan perlu terus mengupayakan solusi At the same time, the Company must continue pursuing solutions
terhadap aset-aset yang belum mencapai kesepakatan melalui for assets that have not yet reached agreements under the Power
Power Purchase Agreement (PPA). Upaya tersebut penting untuk Purchase Agreement (PPA) scheme. These efforts are essential to
memastikan optimalisasi pemanfaatan aset sekaligus membuka ensure optimal asset utilization while also creating opportunities
ruang bagi Perseroan untuk terus berkembang mengoptimalkan for the Company to expand and optimize its 3 GW reserve
cadangan 3 GW yang dimiliki Perseroan. potential.
Dari sisi keuangan, Dewan Komisaris juga memberikan From a financial perspective, the Board of Commissioners also
perhatian terhadap potensi penurunan nilai aset pada beberapa pays attention to the potential impairment of assets at several
pembangkit. Hal ini menjadi bagian dari langkah mitigasi risiko power plants. This forms part of the Company’s risk mitigation
dalam pengelolaan operasional dan investasi Perseroan. efforts in managing its operational activities and investment
portfolio.
PT Pertamina Geothermal Energy Tbk
Page 55
Laporan Tahunan 2025 | 2025 Annual Report 53
Selanjutnya, dalam upaya mendorong peningkatan efisiensi Furthermore, in an effort to drive continuous efficiency
secara berkelanjutan, Dewan Komisaris memandang pentingnya improvements, the Board of Commissioners recognizes the crucial
peran fungsi Internal Audit dalam mendukung proses tersebut. role of the Internal Audit function in supporting this process. The
Dewan Komisaris menilai masih terdapat ruang untuk Board of Commissioners believes there is still room for efficiency
meningkatkan efisiensi pada berbagai aspek kegiatan usaha, improvements in various aspects of business activities, including
baik di bidang operasional, keuangan, teknikal, maupun operations, finance, technical aspects, and procurement.
pengadaan.
Masukan yang disampaikan oleh Dewan Komisaris tersebut akan The input provided by the Board of Commissioners will serve as
menjadi fokus pengawasan pada tahun mendatang. Dewan a key focus of oversight in the year ahead. We are confident
Komisaris meyakini bahwa Direksi akan mampu mewujudkan that the Board of Directors will be able to implement these
berbagai upaya tersebut, sebagaimana perkembangan positif priorities, supported by the positive progress achieved in 2025.
yang telah dicapai pada tahun 2025. Oleh karena itu, Dewan Accordingly, the Board of Commissioners will provide full
Komisaris akan memberikan dukungan penuh terhadap berbagai support for the Board of Directors’ initiatives and performance in
inisiatif dan kinerja Direksi dalam mendorong pencapaian advancing the Company’s objectives in 2026.
Perseroan pada tahun 2026.
Penilaian Kinerja Komite di Bawah Performance Assessment of Committees
Dewan Komisaris Under the Board of Commissioners
Pada tahun 2025, Dewan Komisaris didukung oleh tiga komite In 2025, the Board of Commissioners was supported by three
di bawah Dewan Komisaris, yaitu Komite Audit, Komite Investasi committees: the Audit Committee, the Investment and Risk
dan Manajemen Risiko, serta Komite Nominasi dan Remunerasi. Management Committee, and the Nomination and Remuneration
Dewan Komisaris menilai bahwa seluruh komite tersebut telah Committee. We confirms that each committee effectively
menjalankan tugas dan fungsinya dengan baik dalam membantu carried out its duties and functions in supporting the Board of
Dewan Komisaris melaksanakan fungsi pengawasan serta Commissioners’ oversight role and providing recommendations
memberikan nasihat terkait jalannya kegiatan usaha Perseroan concerning the Company’s business operations.
Penilaian Dewan Komisaris terhadap komite di bawahnya The Board of Commissioners’ assessment of the committees
berlandaskan pada Peraturan Menteri BUMN RI under its oversight refers to the Regulation of the Minister
No. PER-2/MBU/03/2023 tentang Pedoman Tata Kelola dan of State-Owned Enterprises of the Republic of Indonesia
Kegiatan Korporasi Signifikan BUMN, khususnya pasal 21 No. PER-2/MBU/03/2023 on Guidelines for Governance and
mengenai tanggung jawab Dewan Komisaris dalam mengelola Significant Corporate Activities of SOEs, specifically Article 21
Komite di bawahnya, serta SEOJK No. 16/ SEOJK.04/2021 regarding the responsibilities of the Board of Commissioners
tentang Pedoman Tata Kelola Perusahaan Terbuka yang in managing its committees, as well as SEOJK No. 16/
mengatur peran dan fungsi Komite dalam mendukung kinerja SEOJK.04/2021 on Guidelines for Governance of Public
Dewan Komisaris. Companies, which regulates the roles and functions of Committees
in supporting the oversight duties of the Board of Commissioners.
Parameter penilaian kinerja Komite yang digunakan oleh Dewan The performance assessment parameters for the Committees
Komisaris adalah realisasi Key Performance Indicator (KPI), serta used by the Board of Commissioners are the realization of Key
penerapan prinsip-prinsip AKHLAK dalam pelaksanaan tugasnya. Performance Indicators (KPIs) and the application of the AKHLAK
Selain itu, Dewan Komisaris juga menilai aspek lain seperti tingkat principles in carrying out their duties. Furthermore, the Board of
kehadiran, kontribusi dalam proses pengawasan dan pemberian Commissioners also assesses other aspects such as attendance
nasihat, keaktifan dalam peningkatan kompetensi, keterlibatan levels, contribution to the supervision and advisory process,
dalam kunjungan kerja, kepatuhan terhadap tata nilai dan activeness in competency enhancement, involvement in working
Piagam Kerja Komite, pelaksanaan penyampaian laporan visits, compliance with the values and the Committee’s Charter,
kinerja, serta pemenuhan kebijakan tata kelola perusahaan yang the submission of performance reports, and compliance with
baik atau Good Corporate Governance (GCG). Good Corporate Governance (GCG) policies.
Sepanjang tahun buku 2025, Komite Audit telah menjalankan Throughout the 2025 financial year, the Audit Committee
perannya secara optimal dalam mendukung Dewan Komisaris has optimally carried out its role in supporting the Board of
dalam melakukan pengawasan terhadap sistem pengendalian Commissioners in supervising the internal control system, risk
PT Pertamina Geothermal Energy Tbk
Page 56
54 Laporan Tahunan 2025 | 2025 Annual Report
internal, manajemen risiko, serta pelaksanaan fungsi audit. management, and the implementation of the audit function. The
Kinerja Komite Audit juga tercermin dari pencapaian Key Audit Committee’s performance is also reflected in the achievement
Performance Indicator (KPI) sebesar 119%, yang menunjukkan of its Key Performance Indicator (KPI) at 119%, demonstrating
komitmen kuat dalam mendukung penerapan tata kelola a strong commitment to supporting the implementation of good
perusahaan yang baik di lingkungan Perseroan corporate governance within the Company.
Dalam rangka memastikan efektivitas fungsi pengawasan, In order to ensure the effectiveness of the supervisory function,
Dewan Komisaris dan Komite Audit telah melaksanakan 13 kali the Board of Commissioners and the Audit Committee held 13
pertemuan sepanjang tahun 2025, yang membahas berbagai meetings throughout 2025, discussing various strategic aspects
aspek strategis terkait keuangan, kepatuhan, dan mitigasi risiko related to the Company’s finances, compliance, and risk
Perseroan. mitigation.
Komite Investasi dan Manajemen Risiko (KIMR) telah membantu The Investment and Risk Management Committee (KIMR) has
Dewan Komisaris dalam menelaah informasi keuangan terkait assisted the Board of Commissioners in reviewing financial
biaya investasi, merger and acquisition (M&A), biaya operasi, information related to investment costs, mergers and acquisitions
dan maintenance, termasuk mengidentifikasi dan mengelola (M&A), operating costs, and maintenance, including identifying
risiko, melalui 35 pertemuan pada tahun 2025. Realisasi KPI and managing risks, through 35 meetings in 2025. The KIMR’s
KIMR mencapai 116%. KPI realization reached 116%.
Komite Nominasi dan Remunerasi juga telah menjalankan The Nomination and Remuneration Committee has also carried
perannya secara optimal. Dewan Komisaris dan Komite out its role optimally. The Board of Commissioners and the
Nominasi dan Remunerasi telah melaksanakan 13 kali pertemuan Nomination and Remuneration Committee held 13 meetings
sepanjang tahun 2025. Komite ini memiliki capaian KPI sebesar throughout 2025. This committee achieved a KPI of 113%.
113%.
Pandangan atas Penerapan Tata Kelola Views on the Implementation of Good
Perusahaan yang Baik Corporate Governance
Dewan Komisaris menilai bahwa penerapan prinsip-prinsip Tata The Board of Commissioners assesses that the implementation
Kelola Perusahaan yang Baik (Good Corporate Governance/ of Good Corporate Governance (GCG) principles within the
GCG) di lingkungan Perseroan telah berjalan dengan sangat Company has been very successful. Commitment to GCG
baik. Komitmen terhadap penerapan GCG tercermin secara implementation is consistently reflected across all levels of the
konsisten di seluruh jenjang organisasi, mulai dari manajemen organization, from top management and managerial levels to
puncak, tingkat manajerial, hingga para perwira dan pegawai officers and employees within the Company’s operational areas.
di wilayah operasi Perseroan.
Penerapan prinsip-prinsip Tata Kelola Perusahaan yang Baik The implementation of Good Corporate Governance (GCG)
(Good Corporate Governance/GCG) di lingkungan Perseroan principles within the Company is also supported by various
juga didukung oleh berbagai instrumen organisasi, termasuk organizational instruments, including the internal audit and risk
fungsi audit internal dan manajemen risiko. Kedua fungsi tersebut, management functions. These two functions, along with other
bersama dengan organ Perseroan lainnya, berperan aktif dalam Company organs, play an active role in ensuring the consistent
memastikan implementasi prinsip-prinsip GCG berjalan secara implementation of GCG principles across all Company activities.
konsisten di seluruh aktivitas Perseroan.
Selain itu, standar dan kriteria penerapan GCG di Perseroan Furthermore, the standards and criteria for GCG implementation
juga terus berkembang. Perseroan tidak hanya mengacu pada within the Company continue to evolve. The Company not only
ketentuan regulasi yang berlaku, seperti Peraturan Otoritas Jasa adheres to applicable regulatory provisions, such as Financial
Keuangan (POJK) No. 21/POJK.04/2015 serta Surat Edaran OJK Services Authority Regulation (POJK) No. 21/POJK.04/2015
No. 32/SEOJK.04/2015, maupun peraturan internal Perseroan, and OJK Circular Letter No. 32/SEOJK.04/2015, as well as
tetapi juga mengadopsi praktik terbaik (best practices) di industri, the Company’s internal regulations, but also adopts industry
seperti Pedoman Umum Governansi Korporat Indonesia (PUGKI) best practices, such as the General Guidelines for Indonesian
yang diterbitkan oleh Komite Nasional Kebijakan Governansi Corporate Governance (PUGKI) issued by the National
(KNKG) serta ASEAN Corporate Governance Scorecard (ACGS). Committee for Governance Policy (KNKG) and the ASEAN
Corporate Governance Scorecard (ACGS).
PT Pertamina Geothermal Energy Tbk
Page 57
Laporan Tahunan 2025 | 2025 Annual Report 55
Sebagai bagian dari upaya evaluasi dan peningkatan As part of its continuous evaluation and improvement efforts, the
berkelanjutan, Perseroan secara konsisten melakukan penilaian Company consistently conducts periodic assessments of its Good
atas penerapan Tata Kelola Perusahaan yang Baik (GCG) secara Corporate Governance implementation. Based on the assessment
berkala. Berdasarkan penilaian dengan parameter Keputusan parameters of the Decree of the Secretary of the Ministry of
Sekretaris Kementerian BUMN No. SK-16/S.MBU/2012 tentang State-Owned Enterprises No. SK-16/S.MBU/2012 concerning
Indikator/Parameter Penilaian dan Evaluasi atas Penerapan Indicators/Parameters for Assessment and Evaluation of the
Tata Kelola Perusahaan yang Baik pada BUMN, Perseroan Implementation of Good Corporate Governance in State-Owned
memperoleh skor sebesar 93,85 dengan predikat “Sangat Baik.” Enterprises, the Company achieved a score of 93.85, a rating of
“Very Good.”
Sementara itu, berdasarkan parameter ASEAN Corporate Meanwhile, based on the ASEAN Corporate Governance
Governance Scorecard (ACGS), Perseroan memperoleh skor Scorecard (ACGS), the Company achieved a score of 122.52
sebesar 122,52 dengan predikat Excellent. Pencapaian tersebut a rating of Excellent. This achievement places the Company
menempatkan Perseroan sebagai salah satu perusahaan publik among the Top 20 Indonesian public companies in the ASEAN
Indonesia yang masuk dalam daftar #Top 20 ASEAN Asset Class Asset Class Publicly Listed Companies (PLCs).
Publicly Listed Companies (PLCs)”.
Dewan Komisaris berharap agar manajemen terus konsisten The Board of Commissioners expects management to
dalam menerapkan prinsip-prinsip GCG, termasuk melakukan consistently implement GCG principles, including conducting
evaluasi secara berkelanjutan terhadap pelaksanaannya. ongoing evaluations of their implementation. Consistent GCG
Penerapan GCG yang konsisten diyakini akan menjadi landasan implementation is believed to be a crucial foundation for the
penting bagi pertumbuhan Perseroan yang berkelanjutan. Company’s sustainable growth.
Perubahan Komposisi Dewan Komisaris Changes in the Composition of the Board
of Commissioners
Pada tahun buku 2025 hingga laporan tahunan ini terbit, telah During the 2025 financial year up to the issuance date of this
terjadi perubahan komposisi Dewan Komisaris yang ditetapkan Annual Report, changes occurred in the composition of the Board
melalui Keputusan RUPSLB pada tanggal 20 Agustus 2025 yang of Commissioners pursuant to the resolution of the EGMS held on
dinyatakan dalam Akta Notaris No. 33 Tanggal 28 Agustus 20 August 2025, as documented in Notarial Deed No. 33 dated
2025 TMT 28 Agustus 2025. 28 August 2025.
Dengan demikian, komposisi Dewan Komisaris Perseroan hingga Therefore, the composition of the Company’s Board of
laporan tahunan terbit adalah seperti ditampilkan dalam tabel di Commissioners as of the publication of this annual report is as
bawah ini: shown in the table below:
Nama | Name Jabatan Position
Gigih Udi Atmo Komisaris Utama President Commissioner
John Anis Komisaris Commissioner
Abdulla Zayed Komisaris Commissioner
Abdul Musawir Yahya Komisaris Independen Independent Commissioner
Mohammad Firmansyah Komisaris Independen Independent Commissioner
Penutup Closing Remarks
Sebagai penutup, Dewan Komisaris menyampaikan terima In closing, the Board of Commissioners extends its appreciation
kasih kepada Pemegang Saham atas kepercayaan yang telah to the Shareholders for their continued confidence in PGE’s
diberikan kepada Dewan Komisaris untuk menjadi bagian dari business development and long-term growth trajectory. The Board
perjalanan dan pengembangan usaha PGE. Dewan Komisaris of Commissioners also conveys its gratitude for the ongoing
juga menyampaikan apresiasi atas arahan dan bimbingan guidance and oversight provided, which have enabled the Board
yang senantiasa diberikan, sehingga Dewan Komisaris dapat to perform its duties and responsibilities effectively.
menjalankan tugas dan fungsinya dengan baik.
PT Pertamina Geothermal Energy Tbk
Page 58
56 Laporan Tahunan 2025 | 2025 Annual Report
Atas pencapaian kinerja yang sangat baik sepanjang tahun For the strong performance achieved throughout 2025, the Board
2025, Dewan Komisaris menyampaikan penghargaan yang of Commissioners expresses its highest appreciation to the Board
setinggi-tingginya kepada Direksi beserta seluruh jajaran of Directors, management, and all employees for their dedication
manajemen dan pekerja atas dedikasi serta kerja keras yang and hard work. The Board of Commissioners also acknowledges
telah diberikan. Dewan Komisaris juga menyampaikan terima the continued support of the regulators through their direction,
kasih kepada para regulator atas arahan, bimbingan, dan guidance, and oversight, which have ensured that the Company’s
pengawasan yang senantiasa diberikan, sehingga kegiatan operations remain well-managed and compliant with prevailing
usaha Perseroan dapat berjalan dengan baik, selaras dengan regulations and sound business practices despite the challenges
ketentuan regulasi yang berlaku serta praktik bisnis terbaik, di encountered.
tengah berbagai tantangan yang dihadapi.
Kepada para pemangku kepentingan lainnya, Dewan Komisaris The Board of Commissioners further conveys its sincere
menyampaikan terima kasih atas dukungan dan kerja sama appreciation to all stakeholders for their continued support
yang telah terjalin dengan baik selama ini. Berkat dukungan dari and constructive collaboration. With the sustained trust and
seluruh pemangku kepentingan tersebut, manajemen mampu commitment of stakeholders, management successfully delivered
mencatatkan kinerja usaha yang baik sepanjang tahun buku solid business performance during the 2025 financial year.
2025.
Jakarta, 30 Maret 2026 | 30 March 2026
Atas Nama Dewan Komisaris
On Behalf of the Board of Commissioners
PT Pertamina Geothermal Energy Tbk
Gigih Udi Atmo
Komisaris Utama
President Commissioner
PT Pertamina Geothermal Energy Tbk
Page 59
Laporan Tahunan 2025 | 2025 Annual Report 57
Dewan Komisaris
Board of Commissioners
Abdul Musawir Yahya John Anis Abdulla Zayed
Komisaris Independen Komisaris Komisaris
Independent Commissioner Commissioner Commissioner
Gigih Udi Atmo Mohammad Firmansyah
Komisaris Utama Komisaris Independen
President Commissioner Independent Commissioner
PT Pertamina Geothermal Energy Tbk
Page 60
58 Laporan Tahunan 2025 | 2025 Annual Report
Laporan Direksi
Board of Directors’ Report
Ahmad Yani
Direktur Utama
President Director
PT Pertamina Geothermal Energy Tbk
Page 61
Laporan Tahunan 2025 | 2025 Annual Report 59
Para Pemegang Saham dan Pemangku Kepentingan yang Dear Valued Shareholders and Stakeholders,
Terhormat
Laporan Tahunan PT Pertamina Geothermal Energi Tbk The 2025 Annual Report of PT Pertamina Geothermal
(“PGE” atau “Perseroan”) tahun buku 2025 ini merupakan Energi Tbk (“PGE” or the “Company”) has been prepared
bagian dari penerapan tata kelola perusahaan yang baik as part of the implementation of Good Corporate
atau Good Corporate Governance (GCG), terutama Governance (GCG), particularly in upholding the principle
terkait dengan aspek transparansi. of transparency.
Pada tahun buku tersebut, Perseroan melakukan kajian During the financial year, the Company conducted a
strategis untuk mengoptimalkan potensi cadangan sumber strategic review to optimize the potential of its geothermal
daya panas bumi sebesar 3,2 GW yang berasal dari resource reserves, estimated at 3.2 GW, originating
Wilayah Kerja Perseroan saat ini. Kajian ini dilaksanakan from its existing working areas. The review assessed
untuk memetakan prioritas pengembangan, mengevaluasi development priorities, project readiness, and economic
tingkat keekonomian dan kesiapan proyek, serta viability, while identifying the most effective monetization
menetapkan arah monetisasi dan eksekusi yang paling and execution strategies across 15 Geothermal Working
optimal pada 15 Wilayah Kerja Panas Bumi (WKP) yang Areas (WKP) managed under various arrangements,
dikelola melalui skema owned operations, Joint Operating including owned operations, Joint Operating Contracts
Contract (JOC), maupun usaha patungan (joint venture), (JOC), and joint ventures, in line with the Company’s long-
sebagaimana tercantum dalam rencana pertumbuhan term growth plan.
jangka panjang Perseroan.
Perkembangan potensi tersebut turut menjadi landasan The development potential identified through this review
dalam perumusan berbagai inisiatif strategis Perseroan has provided a foundation for shaping the Company’s
ke depan. Salah satu fokus utama yang tengah dijajaki future strategic initiatives. One of the key areas under
adalah pengembangan beyond electricity yaitu peluang evaluation is the development of beyond-electricity
bisnis di luar skema penjualan listrik kepada PT PLN businesses—specifically opportunities outside the
(Persero) sebagai satu-satunya off-taker listrik di Indonesia, conventional electricity sales arrangement with PT PLN
guna meningkatkan nilai tambah pemanfaatan energi (Persero) as Indonesia’s sole electricity off-taker—in
panas bumi. order to increase value creation from geothermal energy
utilization.
PT Pertamina Geothermal Energy Tbk
Page 62
60 Laporan Tahunan 2025 | 2025 Annual Report Pengembangan bisnis baru tersebut merupakan bagian dari The development of these new business avenues forms part of the upaya Perseroan dalam mendukung program hilirisasi yang Company’s efforts to support the downstreaming agenda initiated dicanangkan pemerintah. Dalam konteks Perseroan, hilirisasi by the Government. In the Company’s context, geothermal energi panas bumi diarahkan tidak hanya pada pemanfaatan downstreaming is not limited to electricity generation but also untuk pembangkitan listrik, tetapi juga pada pengembangan encompasses the development of various geothermal-based berbagai produk dan jasa turunan berbasis panas bumi, seperti derivative products and services, such as green ammonia, green green ammonia, green hydrogen, dan green data center. hydrogen, and green data centers. Tinjauan Perekonomian dan Industri Economic and Industry Overview Pada tahun 2025, kondisi perekonomian global seperti In 2025, the global economy—as reported by the International disampaikan Dana Moneter Internasional atau International Monetary Fund (IMF)—remained in a phase of adjustment to the Monetary Fund (IMF), masih dalam tahap penyesuaian terhadap impacts of evolving economic policies, including tariff policies dampak dari perubahan kebijakan ekonomi. Di antaranya, implemented by several countries. berkenaan dengan kebijakan tarif yang diberlakukan oleh sejumlah negara. IMF memproyeksikan perekonomian global pada tahun 2025 In the face of these uncertainties, the IMF predicted that the world akan tumbuh sekitar 3,2%, lebih rendah dibandingkan tahun economy would expand by around 3.2% in 2025—slightly less 2024 yang mencapai 3,3%. Bahkan pada tahun depan than the 3.3% growth observed in 2024—and possibly moderate diperkirakan sekitar 3,1%. even more to about 3.1% in 2026. Di tengah perkembangan situasi global yang belum stabil Despite the ongoing global instability, Indonesia’s economy tersebut, perekonomian Indonesia pada tahun 2025 masih continued to demonstrate positive growth in 2025. According to tumbuh positif. Badan Pusat Statistik (BPS) mencatat, pertumbuhan data from the Central Statistics Agency (BPS), Indonesia’s Gross Produk Domestik Bruto (PDB) mencapai 5,11% secara tahunan Domestic Product (GDP) expanded by 5.11% year-on-year, atau year on year (yoy). Sementara tahun sebelumnya tumbuh compared with approximately 5.03% growth in the previous sekitar 5,03%. year. Dari sisi lapangan usaha, industri pengolahan masih menjadi From the perspective of economic sectors, the manufacturing kontributor terbesar terhadap PDB. Pada tahun 2025, industry remained the largest contributor to GDP. In 2025, it kontribusinya sebesar 19,07%, dengan pertumbuhan 5,30%. accounted for 19.07% of GDP, growing by 5.30%. Meanwhile, Sedangkan lapangan usaha pengadaan listrik dan gas, menurut the electricity and gas supply sector, according to BPS, recorded BPS, mengalami pertumbuhan 3,10%. Sektor ini berkontribusi growth of 3.10%, contributing 1.00% to GDP. 1,00% terhadap PDB. Kendati demikian, pemerintah telah berkomitmen untuk Nevertheless, the Government has reaffirmed its commitment mendukung swasembada dan ketahanan energi nasional, yang to strengthening national energy self-sufficiency and resilience, terutama dilakukan dengan peningkatan porsi Energi Baru primarily through increasing the share of New and Renewable Terbarukan (EBT), khususnya panas bumi sebagai andalan. Energy (NRE), with geothermal energy positioned as a key pillar. Kebijakan swasembada dan ketahanan energi ini menjadi This policy direction presents a positive momentum for PGE, as it momentum positif bagi PGE, karena membuka peluang opens opportunities to expand installed capacity and accelerate peningkatan kapasitas terpasang dan percepatan proyek panas geothermal project development. bumi. Untuk mewujudkan rencana tersebut, pemerintah telah To realize this plan, the government has issued the Electricity menerbitkan Rencana Usaha Penyediaan Tenaga Listrik (RUPTL) Supply Business Plan (RUPTL) for 2025–2034. The plan indicates 2025-2034. Dalam rancangan tersebut diungkapkan, pada that Indonesia is expected to add approximately 5.2 GW of tahun 2034, Indonesia diproyeksikan menambah pembangkit geothermal power generation capacity by 2034. listrik panas bumi sebesar 5,2 GW. PT Pertamina Geothermal Energy Tbk
Page 63
Laporan Tahunan 2025 | 2025 Annual Report 61
URAIAN KINERJA TAHUN 2025 PERFORMANCE DESCRIPTION FOR THE
YEAR 2025
Kendala/Tantangan yang Dihadapi dan Obstacles/Challenges Faced and
Langkah Mitigasinya Mitigation Measures
Pada tahun buku 2025, sejumlah kendala atau tantangan yang The company had to deal with a number of difficulties or hurdles
harus dihadapi oleh Perseroan, antara lain: during the 2025 fiscal year, including:
• Sistem kelistrikan nasional mengalami kelebihan pasokan, • The national electricity system experienced an oversupply,
sehingga berdampak pada pertumbuhan kapasitas which had an impact on the growth of new Geothermal
Pembangkit Listrik Tenaga Panas Bumi (PLTP) baru. Power Plant (PLTP) capacity.
• Proses negosiasi perjanjian jual beli listrik (PPA) memerlukan • The negotiation process for Power Purchase Agreements
waktu panjang dan berpotensi memengaruhi keekonomian (PPAs) required a long time and had the potential to affect
proyek. project economics.
• Kenaikan biaya material, jasa pengeboran, dan volatilitas • Increases in material costs, drilling services, and exchange
nilai tukar berpotensi mempengaruhi efisiensi investasi. rate volatility had the potential to impact investment efficiency.
• Proses perizinan serta koordinasi dengan regulator yang • Licensing processes and coordination with regulators required
memerlukan waktu dan sinkronisasi yang intensif. intensive time and synchronization.
• Akses lokasi proyek, logistik pengeboran, dan fasilitas • Access to project sites, drilling logistics, and supporting
pendukung di area terpencil yang pada umumnya berada di facilities in remote areas, which are generally located in
kawasan hutan konservasi dan hutan lindung masih menjadi conservation forests and protected forests, remained a
tantangan. challenge.
• Perubahan atau penyesuaian kebijakan energi nasional • Changes or adjustments to national energy policies could
dapat memengaruhi skema bisnis dan realisasi waktu affect business schemes and the realization of project
pengembangan proyek. development timelines.
• Terjadi penurunan produktivitas alami sumur (natural • There was a natural decline in well productivity and
declining) dan kompleksitas pengelolaan fluida pada complexity in fluid management in certain fields (Ulubelu and
lapangan tertentu (Area Ulubelu dan Karaha). Karaha Areas).
• Seiring waktu sumur produksi secara alami (natural well • Over time, production wells experience a natural decline
decline) mengalami penurunan laju alir serta perubahan in flow rate and changes in fluid characteristics, potentially
karakteristik fluida, sehingga berpotensi memengaruhi tingkat impacting steam production levels.
produksi uap.
• Single off-taker di bidang kelistrikan masih menjadi • A single off-taker in the electricity sector remained a challenge
tantangan yang harus dihadapi, mengingat pihak yang to be faced, considering that the party mandated as the off-
diamanatkan sebagai off-taker juga mendapatkan pasokan taker also receives supply from power plants using primary
dari pembangkit dengan energi primer di luar panas bumi. energy sources other than geothermal.
• Di bidang keuangan, Perseroan juga dihadapkan • In the financial sector, the Company was also faced with
penambahan biaya yang harus dikeluarkan untuk tahun additional costs to be incurred for the financial year, including
buku, antara lain terkait dengan kompensasi jangka panjang those related to long-term compensation in the form of stock
dalam bentuk opsi saham, maupun pengelolaan risiko dari options, as well as risk management for existing projects.
proyek existing.
Sebagai bagian dari upaya mitigasi dalam rangka menjaga As part of the mitigation efforts to maintain project reliability, the
keandalan proyek, Perseroan telah menerapkan sejumlah inisiatif Company has implemented several strategic initiatives, including:
strategis, antara lain mencakup: integrated well and reservoir integrated well and reservoir management, optimization of
management, optimalisasi strategi produksi dan reinjeksi, serta production and reinjection strategies, as well as the utilization
pemanfaatan data realtime dari pengembangan G-BIONIC dan of real-time data from the development of G-BIONIC and the
implementasi teknologi Flow2Max® untuk memonitor kinerja implementation of Flow2Max® technology to accurately monitor
sumur secara akurat, mengoptimalkan pengelolaan fluida, well performance, optimize fluid management, maintain well
menjaga well performance, serta memastikan keberlanjutan performance, and ensure long-term production sustainability.
produksi jangka panjang.
PT Pertamina Geothermal Energy Tbk
Page 64
62 Laporan Tahunan 2025 | 2025 Annual Report
Strategi dan Kebijakan Strategis Strategies and Strategic Policies
Pada tahun 2025, strategi dan kebijakan strategis yang With a primary focus on three important pillars of business
diterapkan Perseroan untuk mendukung pencapaian kinerja development, the company adopted a set of strategic strategies
usaha, terutama fokus pada 3 (tiga) pilar pengembangan bisnis: and policies in 2025 to support the attainment of its business
performance targets:
• Power Development • Power Development
Perseroan berfokus pada percepatan penambahan kapasitas The Company’s primary goal is to increase installed
terpasang panas bumi, baik melalui pengembangan geothermal capacity as quickly as possible through both
lapangan existing maupun greenfield projects. Strategi greenfield projects and the development of existing fields. The
ini juga didukung oleh penerapan teknologi binary use of binary (co-generation) technologies to optimise the use
(co-generation) untuk memaksimalkan pemanfaatan fluida of geothermal fluids further supports this approach.
panas bumi.
• Downstream Industrialization • Downstream Industrialization
Perseroan mendorong penguatan rantai pasok dan The Company promotes the strengthening of the geothermal
peningkatan penggunaan komponen domestik untuk industry supply chain and the increased utilization of domestic
mendukung pengembangan industri panas bumi di dalam components to support the development of the national
negeri. Inisiatif ini tidak hanya memberikan dampak positif geothermal industry. This initiative not only contributes
terhadap kinerja finansial Perseroan, tetapi juga memperkuat positively to the Company’s financial performance but
posisi PGE sebagai anchor industry dalam pengembangan also reinforces PGE’s position as an anchor industry in the
ekosistem industri panas bumi nasional. development of Indonesia’s geothermal industrial ecosystem.
• Derivatives & Beyond Electricity • Derivatives & Beyond Electricity
pengembangan produk turunan panas bumi dan This pillar focuses on the development of geothermal
pengembangan bisnis off-grid, yakni green hydrogen, green derivative products and off-grid businesses, including green
ammonia, komersialisasi karbon kredit, green data center hydrogen, green ammonia, carbon credit commercialization,
dan pengembangan kawasan industri hijau. green data centers, and the development of green industrial
estates.
Sebagai tindak lanjut dari pilar-pilar tersebut, Perseroan As a follow-up to these pillars, the Company has established
menetapkan dan mengimplementasikan beberapa kebijakan and implemented several new policies, while also
baru serta penguatan kebijakan operasional yang secara strengthening its operational policies to directly support
langsung ditujukan untuk mendukung peningkatan kinerja improvements in production performance, operational
produksi, keandalan operasi, dan keberlanjutan bisnis. reliability, and business sustainability. These policies include:
Kebijakan tersebut antara lain:
• Penguatan Kebijakan Reliability & Asset Integrity • Strengthening Reliability & Asset Integrity
Management Management Policies
Perseroan menerapkan pendekatan asset integrity dengan The Company adopts an asset integrity management
fokus pada peningkatan reliability fasilitas produksi dan approach focused on improving the reliability of production
pembangkitan. Kebijakan ini bertujuan untuk menurunkan and power generation facilities. This policy aims to reduce
unplanned outage, meningkatkan availability dan capacity unplanned outages, increase the availability and capacity
factor pembangkit, serta memperpanjang umur aset. factor of power plants, and extend the lifecycle of critical
assets.
• Optimalisasi Produksi, Reliability Berbasis Data • Production Optimization and Data-Driven
dan Teknologi Digital Reliability Through Digital Technology
Perseroan mengembangkan dan mengimplementasikan The Company has developed and implemented G-BIONIC,
G-BIONIC sebagai sebuah inisiatif transformasi digital a long-term digital transformation initiative based on data,
jangka panjang berbasis data, AI, dan IoT yang dirancang artificial intelligence (AI), and the Internet of Things (IoT),
untuk meningkatkan produktivitas, efisiensi, dan akurasi designed to enhance productivity, efficiency, and accuracy
pengembangan energi panas bumi. Melalui 52 inisiatif in geothermal energy development. Through 52 digital
digital, PGE berupaya mempercepat pengambilan keputusan initiatives, PGE aims to accelerate data-driven decision-
berbasis data, meningkatkan efisiensi operasional, dan making, improve operational efficiency, and strengthen the
memperkuat pengembangan energi bersih yang presisi dan precision and sustainability of clean energy development.
berkelanjutan.
PT Pertamina Geothermal Energy Tbk
Page 65
Laporan Tahunan 2025 | 2025 Annual Report 63
• Kebijakan Integrasi Operasi dan Pengelolaan • Integrated Operations and Reservoir Management
Reservoir Policy
Perseroan memperkuat integrasi lintas fungsi antara The Company has strengthened cross-functional integration
Operations, Subsurface, dan Engineering melalui among Operations, Subsurface, and Engineering through
pendekatan integrated field management dan cross-functional an integrated field management approach and enhanced
collaboration untuk memastikan produksi uap dan listrik yang cross-functional collaboration to ensure optimal, reliable,
optimal, reliable, dan sustainable. Kebijakan ini diterapkan and sustainable steam and electricity production. This policy
dengan mengedepankan prinsip long-term reservoir prioritizes long-term reservoir sustainability, ensuring that
sustainability, sehingga strategi produksi dan operasi tidak production and operational strategies are not only focused
hanya berfokus pada pencapaian target jangka pendek, on short-term targets but also on maintaining reservoir health
tetapi juga menjaga reservoir health dan resource longevity and resource longevity.
dalam jangka panjang.
• Penguatan Aspek HSSE dan Sustainability dalam • Strengthening HSSE and Sustainability in
Operasi Produksi Production Operations
Perseroan menekankan prinsip safe, reliable, and sustainable The Company emphasizes the principle of safe, reliable, and
operation, dengan menjadikan keselamatan kerja (PGE Zero sustainable operations, positioning workplace safety (PGE
Fatality), kepatuhan lingkungan, dan keberlanjutan sebagai Zero Fatality), environmental compliance, and sustainability
bagian integral dari upaya peningkatan produksi. Komitmen as integral components of production enhancement efforts.
tersebut tercermin dari pengakuan eksternal terhadap kinerja This commitment is reflected in external recognition of the
ESG Perseroan, PGE berhasil masuk dalam daftar “2025 Company’s ESG performance, with PGE being included
ESG Top-Rated Company” yang dirilis oleh Sustainalytics, in the “2025 ESG Top-Rated Company” list released by
lembaga pemeringkatan internasional yang berfokus pada Sustainalytics, an international ESG risk rating agency. The
penilaian risiko ESG. Daftar ini mencakup 50 perusahaan list comprises 50 global companies with the highest ESG
global dengan peringkat ESG terbaik dari sekitar 15.000 ratings among approximately 15,000 companies across 42
perusahaan di 42 negara yang dinilai oleh Sustainalytics. countries assessed by Sustainalytics.
• Diversifikasi Kegiatan Operasi Bernilai Tambah • Diversification of Value-Added Operational
Activities
Melalui komersialisasi PGELabs, peluncuran serta Through the commercialization of PGELabs, the launch and
komersialisasi teknologi Flow2Max®, pengembangan Pilot commercialization of Flow2Max® technology, the development
Plant Green Hydrogen, dan pengembangan green data of a Green Hydrogen Pilot Plant, and the development of
center Perseroan melakukan reposisi strategis terhadap green data centers, the Company has undertaken a strategic
fungsi operasionalnya, dari yang sebelumnya berfokus pada repositioning of its operational function—from a traditional
pembangkitan listrik semata menjadi sebuah integrated value electricity generation focus toward an integrated value
creation platform. Dalam kerangka ini, Direktorat Operasi creation platform. Within this framework, the Operations
berperan sebagai key enabler dalam pengembangan Directorate serves as a key enabler for geothermal
geothermal downstream services, penyediaan advanced downstream services, advanced geothermal measurement
geothermal measurement technology, penciptaan sumber technologies, the creation of new revenue streams, and the
pendapatan baru (new revenue streams), serta percepatan acceleration of the energy transition agenda. These initiatives
agenda transisi energi. Inisiatif tersebut diharapkan dapat are expected to strengthen the Company’s long-term business
memperkuat keberlanjutan bisnis Perseroan dalam jangka sustainability while increasing the contribution of geothermal
panjang sekaligus meningkatkan kontribusi energi panas energy within the Company’s green energy ecosystem.
bumi dalam ekosistem energi hijau Perseroan.
• Kebijakan Integrated Reservoir and Steam Supply • Integrated Reservoir and Steam Supply
Management Management Policy
Perseroan terus memperkuat keberlanjutan dan keandalan The Company continues to enhance the sustainability
produksi panas bumi melalui penerapan kebijakan integrated and reliability of geothermal production through the
reservoir and steam supply management. Kebijakan ini implementation of an integrated reservoir and steam supply
diwujudkan melalui percepatan serta penyelesaian proyek management policy. This policy is realized through the
Add More Steam dari sumur make-up di Area Ulubelu, acceleration and completion of Add More Steam projects
Karaha, Kamojang, dan Lahendong, disertai penguatan from make-up wells in the Ulubelu, Karaha, Kamojang, and
koordinasi yang lebih terintegrasi antara fungsi subsurface, Lahendong areas, accompanied by stronger coordination
PT Pertamina Geothermal Energy Tbk
Page 66
64 Laporan Tahunan 2025 | 2025 Annual Report
surface, dan operation. Implementasi kebijakan ini bertujuan among subsurface, surface, and operational functions. The
untuk menjaga kontinuitas suplai uap, memitigasi risiko implementation of this policy aims to ensure the continuity of
penurunan produksi, serta memastikan pencapaian target steam supply, mitigate production decline risks, and support
produksi listrik Perseroan secara berkelanjutan. the sustainable achievement of the Company’s electricity
production targets.
• Peningkatan efisiensi dan keandalan operasi • Improving Efficiency and Reliability of Power Plant
pembangkit Operations
Strategi ini dilakukan melalui pendekatan risk-based operation This strategy is implemented through a risk-based operation
and maintenance, reliability centerd maintenance, termasuk and maintenance approach, including reliability-centered
penguatan Asset Integrity Management (AIM). Kebijakan maintenance and the strengthening of Asset Integrity
AIM mencakup pengelolaan, inspeksi, pemeliharaan, dan Management (AIM). The AIM policy encompasses
penggantian aset kritikal secara sistematis untuk memastikan systematic asset management, inspection, maintenance, and
keselamatan, keandalan, dan umur aset optimal. Penerapan replacement of critical assets to ensure safety, reliability, and
AIM membantu menekan risiko unplanned outage, menjaga optimal asset lifecycle management. Its implementation helps
availability factor, serta mendukung operasional yang aman reduce the risk of unplanned outages, maintain availability
dan berkelanjutan. factors, and support safe and sustainable operations.
• Pengembangan Kapasitas • Capacity Development
Di sisi pengembangan kapasitas, Perseroan merealisasikan In terms of capacity expansion, the Company successfully
strategi peningkatan kapasitas terpasang melalui realized its installed capacity growth strategy through the
penyelesaian Proyek EPCC PLTP Lumut Balai Unit 2 yang completion of the EPCC Project of PLTP Lumut Balai Unit 2,
mencapai Commercial Operation Date (COD) pada 30 Juni which achieved its Commercial Operation Date (COD) on
2025. Beroperasinya unit ini menambah kapasitas terpasang 30 June 2025. The operation of this unit added 55 MW
sebesar 55 MW dan menjadi bagian dari kebijakan strategis to the Company’s installed capacity and forms part of the
Perseroan untuk memperkuat portofolio pembangkit panas Company’s strategic policy to strengthen its geothermal
bumi dan mendukung ketahanan energi nasional berbasis power generation portfolio while supporting national energy
energi baru dan terbarukan. resilience based on new and renewable energy.
• Menetapkan Target Success Rate • Establishing Exploration Success Rate Targets
Perseroan menargetkan tingkat keberhasilan eksplorasi The Company targets an exploration success rate of above
(exploration success rate) di atas 75% melalui penerapan 75% through the application of advanced geoscience
pendekatan berbasis advanced geoscience dan subsurface and subsurface modeling approaches. This approach is
modeling. Pendekatan ini didukung oleh integrasi data historis supported by the integration of historical data with advanced
dengan teknologi terkini serta pengambilan keputusan yang technologies and decision-making based on risk-weighted
didasarkan pada analisis risk-weighted economics. Melalui economic analysis. Through this methodology, the Company
pendekatan tersebut, Perseroan berupaya menurunkan risiko seeks to reduce exploration risks while improving capital
eksplorasi sekaligus meningkatkan efisiensi pemanfaatan efficiency.
modal (capital efficiency).
• Menjaga Keandalan Keuangan • Maintaining Financial Resilience
Perseroan memanfaatkan berbagai skema pendanaan The Company utilizes various sustainable financing schemes,
berkelanjutan, seperti concessional loans dan green loans, such as concessional loans and green loans, to fund project
dalam pembiayaan proyek. Pendekatan ini membuka peluang development. This approach enables the Company to obtain
bagi Perseroan untuk memperoleh struktur pendanaan yang more efficient financing structures and strengthen the long-
lebih efisien serta memperkuat kelayakan ekonomi proyek term economic feasibility of its projects.
dalam jangka panjang.
Perseroan terus berupaya menurunkan biaya pengembangan The Company continues to reduce the development costs of
kapasitas pembangkit panas bumi. Penerapan disiplin biaya geothermal power generation capacity. Strong cost discipline
yang kuat menjadi kunci untuk meningkatkan efisiensi proyek remains essential to improving project efficiency while
sekaligus menjaga daya saing pengembangan panas bumi maintaining the Company’s competitiveness in geothermal
Perseroan di tingkat global. development globally.
PT Pertamina Geothermal Energy Tbk
Page 67
Laporan Tahunan 2025 | 2025 Annual Report 65
Pengembangan bertahap (staging development) dengan The Company adopts a staged development strategy to
tujuan mengoptimalkan alokasi modal serta mengurangi optimize capital allocation while mitigating technical and
risiko teknis dan finansial. financial risks.
Penguatan struktur modal melalui efisiensi biaya, pengelolaan Strengthening the capital structure through cost efficiency,
pinjaman yang prudent, dan strategi lindung nilai (hedging) prudent loan management, and hedging strategies as needed.
sesuai kebutuhan. Perseroan menjaga struktur permodalan The Company maintains a healthy capital structure through
yang sehat melalui efisiensi biaya dan capital allocation cost efficiency and disciplined capital allocation, prudent loan
yang disiplin, pengelolaan pinjaman secara prudent dan management, and the implementation of hedging strategies
penerapan strategi lindung nilai (hedging) yang disesuaikan tailored to operational needs and risk exposure.
dengan kebutuhan operasional dan eksposur risiko.
Melakukan diversifikasi di bidang pendanaan untuk menjaga The Company also diversifies its financing sources to maintain
keandalan kas Perseroan. strong cash flow reliability.
• Penerapan Konsep Shared Valued • Implementation of the Shared Value Concept
Menjalankan berbagai inisiatif pemberdayaan masyarakat di Through various community empowerment initiatives in areas
sekitar wilayah operasi, Perseroan mengedepankan konsep surrounding its operational sites, the Company promotes
shared value yang difokuskan pada pengembangan ekonomi a shared value approach focused on local economic
lokal, peningkatan kapasitas serta kemandirian masyarakat, development, community capacity building and self-reliance,
serta integrasi program sosial dengan keberlanjutan operasi and the integration of social programs with the long-term
Perseroan dalam jangka panjang. sustainability of the Company’s operations.
Peran Direksi dalam Perumusan Strategi The Role of the Board of Directors in
dan Kebijakan Strategis Formulating Strategy and Strategic
Policies
Direksi Perseroan berperan penting dalam penyusunan Rencana The Company’s Board of Directors plays a crucial role in the
Kerja dan Anggaran Perusahaan (RKAP) maupun Rencana Jangka preparation of the Company Work Plan and Budget (RKAP) and
Panjang Perusahaan (RJPP). Dalam proses penyusunannya, the Company Long-Term Plan (RJPP). In their formulation process,
kedua dokumen tersebut telah mempertimbangkan tantangan, these documents have considered the challenges, opportunities,
peluang, profil risiko, dan dinamika kondisi makroekonomi yang risk profile, and dynamics of macroeconomic conditions that
dapat memengaruhi kinerja Perseroan. could affect the Company’s performance.
Sebagai landasan dalam penerapan strategi dan kebijakan As a foundation for implementing the Company’s strategy and
strategis Perseroan, Direksi juga melakukan pemetaan terhadap strategic policies, the Board of Directors also maps out the
berbagai risiko dan peluang yang dihadapi Perseroan guna various risks and opportunities faced by the Company to ensure
memastikan arah pengembangan usaha. the direction of business development.
Implementasi strategi dan kebijakan strategis tersebut diwujudkan The implementation of these strategies and strategic policies is
melalui arahan Direksi untuk meningkatkan efisiensi operasi dan realized through the Board of Directors’ directives to improve
pemeliharaan, memperkuat pemanfaatan teknologi digital, serta operational and maintenance efficiency, strengthen the utilization
mendorong inovasi di seluruh lini bisnis. Direksi juga menekankan of digital technology, and encourage innovation across all business
pentingnya pembangunan komunikasi yang efektif dengan para lines. The Board of Directors also emphasizes the importance of
pemangku kepentingan, termasuk pemerintah, regulator, investor, building effective communication with stakeholders, including the
dan mitra strategis lainnya. government, regulators, investors, and other strategic partners.
PT Pertamina Geothermal Energy Tbk
Page 68
66 Laporan Tahunan 2025 | 2025 Annual Report Peran Direksi untuk Memastikan The Role of the Board of Directors Implementasi Strategi dan Kebijakan in Ensuring the Implementation of Strategis Strategies and Strategic Policies Dalam memastikan implementasi strategi dan kebijakan strategis In ensuring that the implementation of strategies and strategic berjalan secara efektif, Direksi melaksanakan fungsi pengawasan policies runs effectively, the Board of Directors carries out its (oversight) melalui rapat koordinasi, pemantauan laporan oversight function through coordination meetings, periodic kinerja secara berkala, serta evaluasi terhadap pencapaian Key performance report monitoring, and evaluation of Key Performance Indicators (KPI). Direksi juga memastikan bahwa Performance Indicators (KPI) achievements. The Board of Directors pelaksanaan strategi dan kebijakan perusahaan senantiasa also ensures that the implementation of corporate strategy and sejalan dengan peraturan perundang-undangan yang berlaku, policies is always aligned with applicable laws and regulations, standar keselamatan, serta prinsip keberlanjutan (ESG). Direksi safety standards, and sustainability principles (ESG). The Board of juga menjalin koordinasi yang intensif dengan Dewan Komisaris Directors also maintains intensive coordination with the Board of melalui rapat gabungan yang dilaksanakan secara berkala Commissioners through regular monthly joint meetings to obtain setiap bulan guna memperoleh arahan, masukan, serta fungsi direction, input, and oversight. The results of the discussions pengawasan. Hasil pembahasan dalam rapat tersebut kemudian in these meetings are then followed up and communicated to ditindaklanjuti dan dikomunikasikan kepada pimpinan tertinggi the highest functional leadership through routine coordination fungsi melalui rapat koordinasi rutin. meetings. Selain itu, dalam rangka memastikan implementasi strategi Furthermore, in order to ensure the effective implementation of dan kebijakan strategis berjalan secara efektif, Direksi secara strategies and strategic policies, the Board of Directors periodically berkala melakukan management walkthrough ke lapangan untuk conducts management walkthroughs to the field to monitor the memantau pelaksanaan program kerja. Direksi juga melakukan execution of work programs. The Board of Directors also monitors pemantauan terhadap pencapaian KPI secara triwulanan serta KPI achievements on a quarterly basis and conducts performance melaksanakan performance dialogue dengan seluruh unit kerja dialogues with all work units to evaluate performance and ensure guna mengevaluasi kinerja dan memastikan keselarasan dengan alignment with company targets. target perusahaan. Direksi turut menelaah hasil audit yang dilakukan oleh fungsi The Board of Directors also reviews the results of audits conducted Internal Audit maupun auditor eksternal sebagai bagian dari by the Internal Audit function and external auditors as part of mekanisme pengendalian dan pengawasan. Langkah-langkah the control and oversight mechanism. These steps are taken to tersebut dilakukan untuk memastikan bahwa seluruh rencana dan ensure that all company plans and work programs are running in program kerja perusahaan berjalan sesuai dengan target yang accordance with the established targets. telah ditetapkan. KINERJA TAHUN 2025 2025 PERFORMANCE Penerapan strategi dan kebijakan strategis yang tepat telah The implementation of appropriate strategies and policies has menghasilkan kinerja Perseroan yang positif. Perseroan resulted in positive Company performance. The Company berhasil mencatatkan kinerja produksi dan operasional successfully recorded an all-time high in production and tertinggi sepanjang sejarah (all time high), yang didukung oleh operational performance, supported by the completion of strategic penyelesaian proyek strategis, penerapan inovasi teknologi, projects, the implementation of technological innovation, and the serta penguatan diversifikasi kegiatan operasional. strengthening of operational diversification. Hal tersebut tercermin dari pencapaian produksi listrik sebesar This is reflected in the achievement of electricity production of 5,095 GWh, tumbuh 5,6% dibandingkan tahun 2024, yang 5,095 GWh, a 5.6% increase compared to 2024. This directly secara langsung mendorong pencapaian revenue all time high drove the achievement of an all-time high in revenue of USD432.7 2025 sebesar USD432,7 juta, meningkat 6,29% dari tahun million in 2025, a 6.29% increase from the previous year. This sebelumnya. Capaian ini menunjukkan keberhasilan Perseroan achievement demonstrates the Company’s success in sustainably dalam menjaga keandalan dan efisiensi operasi pembangkitan maintaining the reliability and efficiency of its generation secara berkelanjutan. operations. PT Pertamina Geothermal Energy Tbk
Page 69
Laporan Tahunan 2025 | 2025 Annual Report 67
Pencapaian di Bidang Operasional dan Operational and Production
Produksi Achievements
Pencapaian lain di bidang produksi dan operasional, antara lain The Company also recorded several notable achievements in the
mencakup: areas of production and operations, including the following:
• Perseroan berhasil menyelesaikan proyek-proyek pemipaan • The Company successfully completed Add More Steam
Add More Steam dari sumur make-up di area Ulubelu, piping projects from make-up wells in the Ulubelu, Karaha,
Karaha, Kamojang dan Lahendong, yang berperan penting Kamojang, and Lahendong areas. These projects play a
dalam menjaga keberlanjutan suplai uap, meningkatkan critical role in maintaining the sustainability of steam supply,
keandalan operasi pembangkit, serta memitigasi risiko enhancing the reliability of power plant operations, and
penurunan produksi. mitigating the risk of production decline.
• Penyelesaian Proyek EPCC PLTP Lumut Balai Unit 2 dengan • The completion of the EPCC Project of PLTP Lumut Balai Unit
Commercial Operation Date (COD) pada 30 Juni 2025 2, which achieved its Commercial Operation Date (COD) on
menjadi milestone strategis bidang operasi. Beroperasinya 30 June 2025, marked a strategic milestone in operational
unit ini menambah kapasitas terpasang PGE sebesar 55 MW, development. The operation of this unit added 55 MW to
sehingga total kapasitas terpasang meningkat menjadi 727 PGE’s installed capacity, bringing the total installed capacity
MW, sekaligus memperkuat kontribusi Perseroan terhadap to 727 MW, while further strengthening the Company’s
ketahanan energi nasional berbasis energi baru terbarukan. contribution to national energy resilience based on renewable
energy.
• Dari sisi inovasi, Perseroan berhasil meluncurkan teknologi • In terms of innovation, the Company successfully launched
Flow2Max® sebagai sistem pengukuran aliran fluida panas Flow2Max®, a real-time two-phase geothermal fluid flow
bumi 2 (dua) fase secara realtime. Teknologi ini meningkatkan measurement system. This technology significantly enhances
akurasi data operasi, efisiensi pengelolaan fluida, serta the accuracy of operational data, improves fluid management
optimalisasi potensi reservoir secara signifikan. Flow2Max® efficiency, and optimizes reservoir potential. Flow2Max® has
juga telah memperoleh perlindungan paten di enam negara, also secured patent protection in six countries, reflecting
yang mencerminkan pengakuan atas keunggulan teknologi recognition of its technological excellence and strengthening
serta memperkuat posisi Perseroan dalam pengembangan the Company’s position in driving innovation within the
inovasi di industri panas bumi. geothermal industry.
• Bidang operasi juga berperan dalam komersialisasi jasa • The operations division also contributed to the
Laboratorium Panas Bumi “PGELabs,” yang menyediakan commercialization of geothermal laboratory services through
layanan geothermal sampling, laboratory analysis, dan “PGELabs,” which provides geothermal sampling, laboratory
tracer test. Inisiatif ini memperluas peran operasi dari sekadar analysis, and tracer test services. This initiative expands
fungsi pendukung produksi menjadi sumber nilai tambah dan the operational function from merely supporting production
pendapatan non-listrik. activities to becoming a source of added value and non-
electricity revenue.
• Sebagai bagian dari transformasi dan transisi energi, • As part of its energy transformation and transition initiatives,
Perseroan juga melaksanakan groundbreaking Pilot Plant the Company conducted the groundbreaking of the Green
Green Hydrogen di area Ulubelu, yang menandai langkah Hydrogen Pilot Plant in the Ulubelu area, marking the
awal pengembangan ekosistem hidrogen hijau berbasis initial step in the development of a geothermal-based green
panas bumi dan memperkuat posisi PGE sebagai pionir hydrogen ecosystem and reinforcing PGE’s position as a
pengembangan energi bersih terintegrasi. pioneer in integrated clean energy development.
• Penandatanganan Nota Kesepahaman dengan Indonesia • The Company signed a Memorandum of Understanding
Data Center Provider tentang Pemanfaatan Panas Bumi untuk (MoU) with Indonesia Data Center Provider regarding the
Pengembangan Data Center serta Framework Agreement utilization of geothermal energy for data center development,
dengan Universitas Indonesia tentang Penyusunan Feasibility as well as a Framework Agreement with Universitas Indonesia
Study untuk Pengembangan Data Center. for the preparation of a feasibility study on data center
development.
• PGE berhasil mempertahankan faktor kapasitas (capacity • PGE successfully maintained a capacity factor of 86.6% and
factor) sebesar 86,6% dan faktor ketersediaan (availability an availability factor of 98.9% across the five geothermal
factor) sebesar 98,9% pada lima pembangkit panas bumi power plants operated directly by the Company (own-
yang dioperasikan sendiri (own-operated). operated plants).
• Melakukan ekspansi pengembangan di Wilayah Kerja Panas • The Company initiated expansion activities in the Way Panas
Bumi (WKP) Way Panas, melalui inisiasi proyek Gunung Tiga Geothermal Working Area (WKP) through the development
berkapasitas 2×27,5 MW. of the Gunung Tiga project, with a planned capacity
of 2×27.5 MW.
PT Pertamina Geothermal Energy Tbk
Page 70
68 Laporan Tahunan 2025 | 2025 Annual Report
• Penandatanganan Head of Agreement (HoA) dan • The signing of a Head of Agreement (HoA) and Memorandum
Memorandum of Understanding (MoU) antara PLN, of Understanding (MoU) between PLN, Pertamina, PGE,
Pertamina, PGE, dan PLN Indonesia Power sebagai and PLN Indonesia Power marked an important step in the
bagian dari rencana kerja sama pengembangan kapasitas planned collaboration for the development of 530 MW
pembangkit panas bumi sebesar 530 MW. of geothermal power generation capacity.
• Kemajuan signifikan dalam pengembangan proyek • The Company also achieved significant progress in the
greenfield & brownfield, seperti Seulawah, Kotamobagu, development of greenfield and brownfield projects, including
Ulubelu extension (Gunung Tiga) dan Hululais. Seulawah, Kotamobagu, Ulubelu Extension (Gunung Tiga),
and Hululais.
• Masuknya proyek PGE ke dalam Dokumen Perencanaan • Several of the Company’s projects were included in national
Nasional, yakni 4 (empat) proyek pengembangan PLTP planning documents, namely four geothermal power plant
Lumut Balai Unit 3, Lumut Balai Unit 4, Gunung Tiga/Ulubelu development projects: PLTP Lumut Balai Unit 3, Lumut Balai
Extension I, serta Lahendong Unit 7–8 & Binary. Unit 4, Gunung Tiga / Ulubelu Extension I, and Lahendong
Units 7–8 & Binary.
• PGE berhasil meningkatkan kinerja ESG Rating dari lembaga • PGE also improved its ESG rating performance, achieving a
pemeringkat internasional, antara lain dengan meraih skor score of 7.1 (negligible risk) from Sustainalytics, a leading
7,1 (negligible risk) dari Sustainalytics. international ESG rating agency.
Perbandingan antara Target dan Hasil Comparison of Targets and Achieved
yang Dicapai Results
Perbandingan Target dan Realisasi Produksi
Comparison of Targets and Actual Production
(dalam GWh | In GWh)
2025
Produksi Operasi Sendiri
Own Operational Production RKAP1) Realisasi
WP&B Realization
Produksi Uap
2.331,90 2.382,87
Steam Production
Produksi Listrik
2.576,34 2.712,61
Electricity Production
Total 4.908,24 5.095,48
1)
Rencana Kerja dan Anggaran Perusahaan (RKAP) l Work Plan and Budget (WP&B)
Perbandingan Target dan Realisasi Kinerja Keuangan
Comparison of Targets and Actual Financial Performance
(dalam USD ribu | USD Thousands)
2025
Uraian
Description RKAP 1)
Realisasi
WP&B Realization
Pendapatan Usaha
418.786 432.726
Operating Revenues
Beban Usaha
(191.799) (227.155)
Operating Expenses
Laba Usaha
226.986 205.571
Operating Profit
EBITDA
327.307 330.353
EBITDA
Laba Bersih
153.510 137.667
Net Incomes
1)
Rencana Kerja dan Anggaran Perusahaan (RKAP) l Work Plan and Budget (WP&B)
PT Pertamina Geothermal Energy Tbk
Page 71
Laporan Tahunan 2025 | 2025 Annual Report 69
PROSPEK USAHA BUSINESS PROSPECTS
Kondisi perekonomian global pada tahun 2026 diperkirakan Global economic conditions in 2026 are expected to remain
masih penuh dengan tantangan. Selain dampak dari kebijakan challenging. In addition to the impact of US tariff policies, which
tarif Amerika Serikat yang masih memerlukan penyesuaian oleh still require adjustments by other countries, geopolitical dynamics
negara-negara lain, dinamika geopolitik juga belum reda. have also not subsided.
Mempertimbangkan kondisi tersebut, Dana Moneter International In this context, the International Monetary Fund (IMF) projects
atau International Monetary Fund (IMF) memproyeksikan global economic growth of 3.1%, representing a moderation
perekonomian global akan tumbuh 3,1%, lebih rendah compared with the expansion recorded in 2024 and 2025. A
dibandingkan tahun 2024 dan 2025. Kondisi yang dianggap key source of concern is the potential resurgence of protectionist
paling mengkhawatirkan adalah potensi meningkatnya measures, as governments adjust policy responses to shifting
proteksionisme, sebagai respons terhadap situasi yang economic conditions.
berkembang.
Kendati demikian, pemerintah tetap optimistis dengan Nevertheless, the government remains optimistic about the
perekonomian dalam negeri. Seperti tertuang dalam Anggaran domestic economy. As stated in the 2026 State Budget (APBN),
Pendapatan dan Belanja Negara (APBN) 2026, pemerintah the government targets economic growth to reach 5.4%.
menargetkan pertumbuhan ekonomi mencapai 5,4%.
Bersamaan dengan optimisme tersebut, Perseroan juga menilai Alongside this optimism, the Company expects its business
prospek usaha ke depan akan tetap positif dan PGE akan tetap prospects to remain favorable, supported by PGE’s resilience and
memiliki daya tahan yang baik. Hal ini, antara lain didorong the strategic role of geothermal as a renewable baseload power
oleh peran geothermal sebagai baseload EBT dan komitmen source, along with the government’s continued commitment to the
transisi energi nasional dari pemerintah. national energy transition.
Untuk mendukung kinerja Perseroan pada tahun 2026, To support the Company’s performance in 2026, management
manajemen telah menyiapkan sejumlah inisiatif strategis, yang has prepared several strategic initiatives, which include:
antara lain mencakup:
• Fokus mempercepat pertumbuhan organik melalui • The Company prioritizes accelerating organic growth through
pengembangan proyek, serta optimalisasi kinerja atas aset project development while optimizing the performance of
yang saat ini telah beroperasi. Akselerasi penambahan existing operating assets, with the objective of expediting the
kapasitas terpasang untuk mewujudkan 1 GW pada 2-3 increase in installed capacity to reach 1 GW within the next
tahun mendatang. 2-3 years.
• Selain pertumbuhan organik, Perseroan juga terbuka • In addition to organic growth, the Company is also open
terhadap peluang pertumbuhan anorganik melalui merger to inorganic growth opportunities through mergers and
dan akuisisi (mergers & acquisitions/M&A), sepanjang acquisitions (M&A), as long as these opportunities meet the
peluang tersebut memenuhi kriteria strategis dan finansial strategic and financial criteria established by the Company.
yang ditetapkan oleh Perseroan.
• Penguatan koordinasi dengan PT PLN (Persero) sebagai single • Strengthening coordination with PT PLN (Persero) as
buyer listrik di Indonesia tetap menjadi fokus Perseroan guna Indonesia’s sole electricity offtaker remains a key priority
memastikan kepastian penyerapan listrik serta kelancaran for the Company to ensure certainty in power offtake and
pencapaian Commercial Operation Date (COD) pada to support the timely achievement of Commercial Operation
proyek-proyek yang sedang dikembangkan. Dates (COD) for projects currently under development.
• Disiplin dalam pengelolaan belanja modal (capital • Discipline in managing capital expenditure and strengthening
expenditure) serta penguatan skema pendanaan sustainable financing schemes, including the utilization of
berkelanjutan, termasuk pemanfaatan green financing, green financing, as key principles in supporting business
sebagai prinsip utama dalam mendukung ekspansi usaha, expansion, both through organic and inorganic growth.
baik melalui pertumbuhan organik maupun anorganik.
• Memaksimalkan dua strategi pertumbuhan, yaitu optimalisasi • Maximizing two growth strategies: optimizing the
kinerja aset yang telah beroperasi (existing assets) serta performance of existing operating assets and developing
pengembangan potensi baru, termasuk proyek PLTP Lumut new potential, including the Lumut Balai Unit 3 and 4 PLTP
Balai Unit 3 dan 4. projects.
PT Pertamina Geothermal Energy Tbk
Page 72
70 Laporan Tahunan 2025 | 2025 Annual Report
• Penguatan aspek ESG, tata kelola, dan manajemen risiko • Strengthening ESG aspects, governance, and risk
menjadi landasan dalam setiap keputusan operasional dan management as the foundation for every operational and
investasi. investment decision.
• Perseroan juga menginisiasi kerja sama dengan pihak ketiga • The Company is also initiating collaboration with third parties
untuk memanfaatkan produk listrik yang dihasilkan atau to utilize the electricity produced or using the concept of self-
menggunakan konsep pemanfaatan sendiri. utilization.
• Di bidang keuangan, Perseroan berupaya memaksimalkan • In the financial sector, the Company seeks to maximize third-
pendanaan dari pihak ketiga untuk kegiatan pra-konstruksi party funding for pre-construction activities of power plants.
pembangkit.
PENERAPAN TATA KELOLA PERUSAHAAN IMPLEMENTATION OF CORPORATE
GOVERNANCE
Perseroan menunjukkan komitmen yang kuat dalam menerapkan The Company demonstrates a strong commitment to implementing
prinsip-prinsip Tata Kelola Perusahaan yang Baik (Good Good Corporate Governance (GCG) principles in all aspects of
Corporate Governance/GCG) di seluruh aspek kegiatan usaha. its business activities. This commitment is reflected in the results
Komitmen tersebut tercermin melalui hasil penilaian penerapan of the GCG implementation assessment, which refers to the
GCG yang mengacu pada parameter Keputusan Sekretaris parameters of the Decree of the Secretary of the Ministry of SOEs
Kementerian BUMN No. SK-16/S.MBU/2012 tentang Indikator/ No. SK-16/S.MBU/2012 concerning Indicators/Parameters
Parameter Penilaian dan Evaluasi atas Penerapan Tata Kelola for Assessment and Evaluation of the Implementation of Good
Perusahaan yang Baik pada BUMN. Berdasarkan penilaian Corporate Governance in SOEs. Based on this assessment, the
tersebut, Perseroan memperoleh skor 93,85 dengan predikat Company achieved a score of 93.85, with the predicate ‘Very
‘Sangat Baik’ Good’.
Selan itu, Perseroan juga telah mematuhi pelaksanaan GCG Furthermore, the Company has also complied with GCG
sesuai ketentuan regulator tentang penerapan tata kelola implementation in accordance with regulatory provisions
perusahaan. Di antaranya, yaitu Peraturan Otoritas Jasa concerning corporate governance implementation. These
Keuangan (POJK) No. 21/POJK.04/2015 serta Surat Edaran include Financial Services Authority Regulation (POJK)
OJK No. 32/2015. Seluruh kriteria dalam regulasi ini telah No. 21/POJK.04/2015 and OJK Circular Letter No. 32/2015.
berhasil dipenuhi. All criteria in these regulations have been successfully fulfilled.
Penerapan GCG di lingkungan Perseroan juga telah mengadopsi The implementation of GCG within the Company has also adopted
praktik terbaik (best practices) di industri, baik yang mengacu industry best practices, referring to both national and international
pada standar nasional maupun internasional. Salah satunya standards. One such practice is through the implementation
melalui penerapan Pedoman Umum Governansi Korporat of the Indonesian Corporate Governance General Guidelines
Indonesia (PUGKI) yang diterbitkan oleh Komite Nasional (PUGKI) issued by the National Committee on Governance Policy
Kebijakan Governansi (KNKG), di mana seluruh kriteria dalam (KNKG), where all criteria in these guidelines have been fulfilled
pedoman tersebut telah dipenuhi oleh Perseroan. by the Company.
Sejak tahun 2024, Perseroan juga mulai mengadopsi parameter Since 2024, the Company has also adopted the ASEAN
ASEAN Corporate Governance Scorecard (ACGS) dan hasil Corporate Governance Scorecard (ACGS) parameters, and the
penilaian tahun 2025 yang dilakukan oleh pihak independen 2025 assessment conducted by an independent party resulted
memperoleh skor sebesar 122,52 atau berpredikat Excellent. in a score of 122.52, classified as Excellent. This achievement
Pencapaian tersebut menempatkan Perseroan sebagai salah positions the Company among Indonesian public companies
satu perusahaan publik Indonesia yang masuk dalam daftar included in the Top 20 ASEAN Asset Class Publicly Listed
Top 20 ASEAN Asset Class Publicly Listed Companies (PLCs). Companies (PLCs). This recognition further strengthens the
Pengakuan ini semakin memperkuat kredibilitas Perseroan serta Company’s credibility and enhances investor confidence in the
meningkatkan kepercayaan investor terhadap kualitas tata kelola quality of its corporate governance at the ASEAN regional level.
Perseroan di tingkat kawasan ASEAN.
PT Pertamina Geothermal Energy Tbk
Page 73
Laporan Tahunan 2025 | 2025 Annual Report 71
Hasil penilaian GCG tersebut menunjukkan bahwa Perseroan The GCG assessment results indicate that the Company has
telah menerapkan praktik tata kelola perusahaan yang unggul implemented strong corporate governance practices in line
dan selaras dengan praktik terbaik. Ke depan, Perseroan akan with recognized best practices. Going forward, the Company
terus melakukan penguatan dan pengembangan implementasi will continue enhancing the implementation of GCG to support
GCG guna menjaga resiliensi kinerja bisnis serta keberlanjutan sustainable business performance and long-term corporate
perusahaan. Upaya tersebut dilakukan melalui pemenuhan hak- sustainability. These initiatives include ensuring the fulfillment of
hak pemegang saham, penguatan efektivitas fungsi pengawasan, shareholder rights, strengthening the effectiveness of oversight
serta peningkatan transparansi dan akuntabilitas dalam seluruh functions, and improving transparency and accountability across
proses bisnis Perseroan. all Company business processes.
PERUBAHAN KOMPOSISI DIREKSI DAN CHANGES IN THE COMPOSITION OF
ALASANNYA THE BOARD OF DIRECTORS AND THE
REASONS THEREOF
Pada tahun buku 2025 hingga tanggal penerbitan Laporan The composition of the Board of Directors of PT Pertamina
Tahunan ini, terdapat perubahan komposisi Direksi Geothermal Energy Tbk changed during the fiscal year 2025 up
PT Pertamina Geothermal Energy Tbk yang ditetapkan melalui to the date of publishing of this Annual Report, as resolved at the
Rapat Umum Pemegang Saham (RUPS) berdasarkan Akta General Meeting of Shareholders (GMS) on 28 February 2026,
No. 29 tanggal 28 Februari 2026. Melalui keputusan tersebut, as per Deed No. 29. With this resolution, the GMS approved
RUPS menyetujui pemberhentian dengan hormat Bapak Julfi Hadi Mr. Julfi Hadi’s honorable dismissal from his post as President
dari jabatannya sebagai Direktur Utama. Selanjutnya, Bapak Director. Mr. Ahmad Yani was then appointed President Director,
Ahmad Yani diangkat sebagai Direktur Utama menggantikan succeeding his prior role as Director of Operations, and Mr. Andi
posisi sebelumnya sebagai Direktur Operasi, dan Bapak Andi Joko Nugroho was appointed Director of Operations.
Joko Nugroho diangkat sebagai Direktur Operasi Perseroan.
Dengan demikian, komposisi Direksi Perseroan hingga laporan Accordingly, the composition of the Company’s Board of Directors
tahunan terbit adalah seperti ditampilkan dalam tabel di bawah up to the publication of this annual report is as shown in the table
ini: below:
Nama | Name Jabatan Position
Ahmad Yani Direktur Utama President Director
Edwil Suzandi Direktur Eksplorasi & Pengembangan Director of Exploration and Development
Yurizki Rio Direktur Keuangan Director of Finance
Andi Joko Nugroho Direktur Operasi Director of Operations
PT Pertamina Geothermal Energy Tbk
Page 74
72 Laporan Tahunan 2025 | 2025 Annual Report
PENUTUP CLOSING REMARKS
Sebagai penutup, Direksi menyampaikan apresiasi dan terima In closing, the Board of Directors expresses its sincere appreciation
kasih kepada seluruh pemangku kepentingan atas kontribusi to all stakeholders for their direct and indirect contributions to
yang telah diberikan, baik secara langsung maupun tidak the Company’s performance throughout the 2025 financial
langsung, dalam mendukung pencapaian kinerja PGE sepanjang year. The Board of Directors also extends its gratitude to the
tahun buku 2025. Ucapan terima kasih secara khusus juga Shareholders and the Board of Commissioners for their continued
disampaikan kepada Pemegang Saham dan Dewan Komisaris trust and guidance, which have enabled the Board of Directors to
atas kepercayaan serta arahan yang senantiasa diberikan kepada effectively carry out its responsibilities in managing the Company.
Direksi dalam menjalankan tugas pengelolaan perusahaan.
Direksi juga menyampaikan penghargaan setinggi-tingginya The Board of Directors also conveys its sincere appreciation to
kepada seluruh jajaran manajemen dan pekerja atas dedikasi, all members of management and employees for their dedication,
komitmen, serta kerja keras yang telah diberikan. Pencapaian commitment, and contributions. The achievements recorded by
PGE tersebut merupakan hasil dari sinergi, kolaborasi, dan PGE reflect the strong synergy, collaboration, and collective
semangat kebersamaan seluruh Perwira dalam mendorong efforts of all Perwira in advancing the Company’s growth and
pertumbuhan dan keberlanjutan perusahaan. long-term sustainability.
Direksi juga menyampaikan apresiasi atas peran strategis para The Board of Directors also recognizes the strategic role of the
mitra usaha melalui kemitraan yang telah terjalin dengan baik, Company’s business partners through established partnerships,
serta dukungan dari regulator yang senantiasa memberikan as well as the support of regulators who continue to provide
arahan dan pengawasan. Direksi berharap kolaborasi yang direction and supervision. The Board of Directors expects this
konstruktif ini dapat terus diperkuat sebagai fondasi penting constructive collaboration to further develop as a key foundation
dalam mendorong pertumbuhan berkelanjutan dan penciptaan for advancing sustainable growth and generating long-term value
nilai jangka panjang bagi PGE, sekaligus memberikan kontribusi for PGE, while also contributing to national development.
nyata bagi pembangunan nasional.
Jakarta, 30 Maret 2026 | 30 March 2026
Atas Nama Direksi
On Behalf of the Board of Directors
PT Pertamina Geothermal Energy Tbk
Ahmad Yani
Direktur Utama
President Director
PT Pertamina Geothermal Energy Tbk
Page 75
Laporan Tahunan 2025 | 2025 Annual Report 73
Direksi
Board of Directors
Andi Joko Nugroho Yurizki Rio
Direktur Operasi Direktur Keuangan
Director of Operation Director of Finance
Ahmad Yani Edwil Suzandi
Direktur Utama Direktur Eksplorasi & Pengembangan
President Director Director of Exploration & Development
PT Pertamina Geothermal Energy Tbk
Page 76
74 Laporan Tahunan 2025 | 2025 Annual Report PT Pertamina Geothermal Energy Tbk
Page 77
Laporan Tahunan 2025 | 2025 Annual Report 75
03
Profil
Perusahaan
Company Profile
PT Pertamina Geothermal Energy Tbk
Page 78
76 Laporan Tahunan 2025 | 2025 Annual Report
RIWAYAT SINGKAT
PERSEROAN
RIWAYAT SINGKAT
PERSEROAN
Brief History of The Company
Brief History of The Company
Uap, Listrik,
Kredit Karbon
Steam, Electricity, Carbon Credits
15 15
Wilayah Kerja
Produk dari Kegiatan Usaha Working Areas
Product from Business Activities
10,90% 19 Tahun
Years
Saham Publik Beroperasi di Indonesia
Public Shares Operation in Indonesia
PT Pertamina Geothermal Energy Tbk
Page 79
Laporan Tahunan 2025 | 2025 Annual Report 77
Kehadiran PT Pertamina Geothermal Energy Tbk PT Pertamina Geothermal Energy Tbk (the “Company,”,
(“Perseroan,”, “Perusahaan”, dan “PGE”)) dimulai tahun “Corporation”, and “PGE”)) began its operation in 1974
1974 ketika Pemerintah Indonesia menugaskan Pertamina when the Indonesian government commissioned Pertamina
(d/h PN Pertambangan Minyak dan Gas Bumi Negara) (formerly PN Pertambangan Minyak dan Gas Bumi Negara)
untuk mengeksplorasi dan mengelola panas bumi sebagai to explore and manage geothermal energy for electricity
penghasil listrik. Dari hasil identifikasi, terdapat 70 wilayah generation. The identification revealed 70 geothermal
panas bumi di Indonesia. Panas Bumi (PLTP) Kamojang di areas in Indonesia. The Kamojang Geothermal Power
Lapangan Kamojang, Jawa Barat, yang dibangun dan Plant (PLTP) in the Kamojang Field, West Java, which
mulai beroperasi di tahun 1983 menjadi PLTP pertama was built and began operating in 1983, became the first
di Indonesia. geothermal power plant in Indonesia.
Pada tahun 2000, pemerintah menerbitkan Keputusan Presiden In 2000, the government issued Presidential Decree
No. 76 tentang Pengusahaan Sumber Daya Panas Bumi untuk No. 76, which addressed the business of geothermal resources
Pembangkitan Tenaga Listrik. Regulasi itu membatasi dominasi for electricity generation. This regulation limited Pertamina’s
Pertamina sebagai satu-satunya badan usaha yang dapat dominance as the sole business entity capable of managing
mengelola panas bumi di Indonesia. Selanjutnya, Pertamina geothermal energy in Indonesia. Subsequently, Pertamina returned
mengembalikan 18 dari 33 Wilayah Kuasa Pengusahaan Panas 18 of the 33 Geothermal Concession Right Areas it managed
Bumi yang dikelola kepada Pemerintah. to the government.
PT Pertamina Geothermal Energy Tbk
Page 80
78 Laporan Tahunan 2025 | 2025 Annual Report PGE menerima pengalihan 14 Wilayah Kuasa Pengusahaan PGE received the transfer of 14 geothermal Concession Right (WKP) panas bumi dari Pertamina melalui Keputusan Menteri Areas (WKP) from Pertamina through the Decree of the Minister Energi dan Sumber Daya Mineral No.2067 K/30/MEM/2012 of Energy and Mineral Resources No. 2067 K/30/MEM/2012 tanggal 18 Juni 2012. Namun pada akhir tahun 2014, PGE dated 18 June 2012. However, at the end of 2014, PGE returned mengembalikan WKP Gunung Iyang Argopuro dan Kotamobagu the WKP of Gunung Iyang Argopuro and Kotamobagu because karena belum mencapai tahap eksploitasi, sesuai amanat dalam they had not yet reached the exploitation stage, as mandated by ketentuan peralihan Undang-undang No. 21 Tahun 2014 tentang the transitional provisions of Law No. 21 of 2014 concerning Panas Bumi. Geothermal Energy. Untuk memastikan pengelolaan WKP yang lebih optimal serta In order to ensure optimal management of WKP and support mendukung pengembangan usaha secara berkelanjutan, sustainable business development, PGE established two PGE mendirikan dua anak perusahaan, yaitu PT Pertamina subsidiaries, namely PT Pertamina Geothermal Energy Lawu (May Geothermal Energy Lawu (Mei 2016) yang mengelola wilayah 2016), which manages the Gunung Lawu working area, and kerja Gunung Lawu dan PT Geothermal Energi Seulawah PT Geothermal Energi Seulawah (July 2017), which manages the (Juli 2017) yang mengelola Wilayah kerja Seulawah Agam. Seulawah Agam working area. PT Pertamina Geothermal Energi Lawu berubah nama menjadi PT Pertamina Geothermal Energi Lawu changed its name to PT Pertamina Geothermal Energy Kotamobagu terhitung PT Pertamina Geothermal Energy Kotamobagu effective July sejak bulan Juli 2022, karena akan mengelola wilayah kerja 2022, as it will manage the Kotamobagu working area under Kotamobagu berdasarkan Izin Panas Bumi berupa penugasan a Geothermal Permit assigned to PT Pertamina (Persero) and/ kepada PT Pertamina (Persero) dan/atau afiliasi. or affiliates. Pada Agustus 2021, PT Pertamina (Persero) selaku holding PGE In August 2021, PT Pertamina (Persero), as PGE’s holding melakukan restrukturisasi dengan membentuk enam subholding company, conducted a restructuring by establishing six yang salah satunya adalah Subholding Power & New Renewable subholdings, one of which is the Power & New Renewable Energy Energy (PNRE), yang dikelola oleh Pertamina New & Renewable (PNRE) Subholding, managed by Pertamina New & Renewable Energy (PNRE), rebranding dari PT Pertamina Power Indonesia. Energy (PNRE), a rebranding of PT Pertamina Power Indonesia. Pembentukan Subholding PNRE diikuti oleh berbagai langkah The establishment of the PNRE Subholding was followed by transformasi strategis di PGE sebagai bagian dari Subholding various strategic transformation steps at PGE as part of the PNRE PNRE, salah satunya melalui pelaksanaan Penawaran Umum Subholding, one of which was through the implementation of an Saham Perdana (Initial Public Offering/IPO) pada tahun 2023. Initial Public Offering (IPO) in 2023. Penawaran umum ini mencerminkan komitmen PGE dalam This public offering reflects PGE’s commitment to improving meningkatkan transparansi, tata kelola perusahaan, serta transparency, corporate governance, and running a responsible menjalankan bisnis yang bertanggung jawab dan berkelanjutan. and sustainable business. Sesuai tujuan pembentukan Subholding PNRE, PGE juga akan Pursuant to the objectives of the establishment of the PNRE terus menjalankan perannya sebagai pengelola panas bumi Subholding, PGE will also continue its role as a geothermal yang akan mendukung terwujudnya ketahanan energi nasional, operator, supporting national energy security and serving as serta menjadi garda utama kesiapan Indonesia dalam melakukan the vanguard of Indonesia’s readiness for the energy transition transisi energi menuju target Net Zero Emission pada 2060. towards the Net Zero Emission target by 2060. Hingga akhir tahun 2025 PGE mengelola 15 Wilayah Kerja By the end of 2025, PGE managed 15 Working Areas, consisting yang terdiri atas 12 Wilayah Kerja Kuasa Pengusahaan, of 12 Concession Right Working Areas, 2 Geothermal Permit 2 Wilayah Kerja Penugasan Izin Panas Bumi (IPB) dan 1 Wilayah Assignment Working Areas (IPB), and 1 Joint Venture Working Kerja dengan Usaha Gabungan (Joint Venture). Total kapasitas Area. The total installed capacity within the Concession Right terpasang dalam WKP adalah 1.943 MW, yang terdiri dari Areas (WKP) is 1,943 MW, consisting of 727 MW under Own Pengelolaan Sendiri (Own Operations) sebesar 727 MW dan Operations and 1,216 MW under Joint Operation Contracts Kontrak Operasi Bersama (KOB) atau Joint Operation Contract (JOC). All Concession Right Areas (WKP) are spread across (JOC) sebesar 1.216 MW. Seluruh WKP tersebar di Sumatera, Sumatra, Java, Bali, and Sulawesi. Jawa, Bali, dan Sulawesi. Informasi Perubahan Nama Name Change Information Hingga akhir tahun buku 2025, Perseroan tidak pernah As of the end of financial year 2025, the Company has not mengalami perubahan nama. undergone any name changes. PT Pertamina Geothermal Energy Tbk
Page 81
Laporan Tahunan 2025 | 2025 Annual Report 79
Tentang PGE
About PGE
Nama Perseroan Dasar Hukum Pendirian dan Perubahannya
Company Name Legal Basis of Establishment and Amendment
PT Pertamina Geothermal Energy Tbk Akta Pendirian Perseroan Nomor 10 Tanggal 12 Desember 2006
dan telah mendapat pengesahan Menteri Hukum dan Hak Asasi
Domisili Manusia Republik Indonesia dengan Surat Keputusan No. W7-
Domicile 00089 HT.01.01-TH.2007 tanggal 3 Januari 2007, sebagaimana
terakhir diubah melalui Akta No. 07 tanggal 13 Januari 2026
Jakarta, Indonesia
dan telah mendapat penerimaan pemberitahuan Menteri Hukum
Tanggal Pendirian Republik Indonesia (RI) berdasarkan Keputusan No. AHU-
Date of Establishment AH.01.03-0011320 tanggal 14 Januari 2026.
Deed of Company Establishment No. 10 dated 12 December 2006
12 Desember 2006 | 12 December 2006 and has been approved by the Minister of Law and Human Rights
of the Republic of Indonesia by Decree No. W7-00089 HT.01.01-
Badan Usaha TH.2007 dated 3 January 2007, as last amended by Deed No.
Legal Entity 07 dated 13 January 2026, and has received notification from the
Minister of Law of the Republic of Indonesia (RI) based on Decree
Perseroan Terbatas No. AHU-AH.01.03-0011320 dated 14 January 2026.
Anak Perusahaan Pertamina Subholding Power &
New Renewable Energy (PNRE)
Limited Liability Company Pencatatan di Bursa
Subholding Subsidiary of Pertamina Subholding Power & Initial Public Offering
New Renewable Energy (PNRE)
Perseroan mencatatkan sahamnya di Bursa Efek Indonesia pada
Bidang Usaha 24 Februari 2023
Line of Business The Company listed its shares on the Indonesia Stock Exchange on
24 February 2023
Pengusahaan tenaga panas bumi dan pembangkitan
tenaga listrik Jumlah Pekerja
Business of geothermal energy and power generation Total Employees
Modal Dasar 561 pekerja pada tahun 2025
Authorized Capital 561 employees as of 2025
Rp62.092.284.000.000 Alamat Perseroan
Company Address
Modal Ditempatkan
Issued Capital Kantor Pusat
Grha Pertamina - Tower Pertamax Lt. 7,
Rp20.907.881.698.000 Jl. Medan Merdeka Timur No. 11-13 Gambir,
Jakarta Pusat 10110.
Kepemilikan Saham Head Office
Shareholding Grha Pertamina - Tower Pertamax Fl. 7,
Jl. Medan Merdeka Timur No. 11-13 Gambir,
Jakarta Pusat 10110.
• PT Pertamina Power Indonesia (68,32%)
• Masdar Indonesia Solar Holdings RSC Limited (14,85%)
• PT Pertamina Pedeve Indonesia (5,93%) Akses Informasi
• Masyarakat | Public (10,90%) Information Access
135 Pertamina Geothermal Energy
Kode Saham commpge@pertamina.com pge.pertamina
Ticker Code www.pge.pertamina.com PT Pertamina Geothermal
@pge.pertamina Energy Tbk
PGEO
PT Pertamina Geothermal Energy Tbk
Page 82
80 Laporan Tahunan 2025 | 2025 Annual Report
Jejak Langkah Perseroan
Company Milestones
Penugasan pemerintah kepada
Pertamina untuk melakukan survei
sumber panas bumi,
dan melakukan eksplorasi serta
eksploitasi untuk menghasilkan Pembangkit Listrik Tenaga Panas
energi listrik berdasarkan UU Bumi (PLTP) Kamojang Unit I
No. 8 Tahun 1971 jo. Keppres berkapasitas 30 MW resmi
64/1972 jo. Keppres 16/1974. beroperasi pada 28 Januari
The Government has assigned 1983, dengan memanfaatkan PLTP Kamojang Unit 2 dan 3 PLTP Sibanyak Monoblok berkapasitas
Pertamina to conduct surveys energi panas bumi dari Lapangan berkapasitas 2 x 55 MW mulai 2 MW yang terletak di WKP Gunung
of geothermal sources Kamojang, Jawa Barat. beroperasi secara komersial Sibayak-Gunung Sinabung, Sumatera
and carry out exploration and The Kamojang Unit I Geothermal pada 2 Oktober dan 15 Utara resmi beroperasi pada
exploitation to generate electrical Power Plant (PLTP) with a November 1987. 8 Agustus 1996.
energy according to capacity of 30 MW was officially Kamojang PLTP Units 2 and 3 Sibayak Monoblok PLTP with
Law No. 8 of 1971 jo. operational on 28 January 1983, with a capacity of 2 x 55 MW a capacity of 2 MW located in the
Presidential Decree No. 64 by utilizing geothermal energy began commercial Gunung Sibayak-Gunung Sinabung
of 1972 jo. Presidential Decree from the Kamojang Field, West operations on 2 October and WKP, North Sumatra officially
No. 16 of 1974. Java. 15 November 1987. operated on 8 August 1996.
1974 1983 1987 1996
2007 2008 2009 2011
PLTP Lahendong Unit 2 • PLTP Kamojang Unit 4 PLTP Lahendong Unit 3 PLTP Lahendong Unit 4
berkapasitas 20 MW resmi berkapasitas 60 MW yang berkapasitas 20 MW resmi berkapasitas 20 MW yang
beroperasi pada 19 Juni 2007. terletak di WKP Kamojang, beroperasi pada 7 April 2009. terletak di WKP Lahendong,
Lahendong PLTP Unit 2 with Jawa Barat resmi beroperasi Lahendong PLTP Unit 3 with Sulawesi Utara resmi beroperasi
a capacity of 20 MW officially pada 26 Januari 2008. a capacity of 20 MW officially pada 23 Desember 2011.
operated on 19 June 2007. • PLTP Sibayak Unit 1 dan 2 operated on 7 April 2009. Lahendong PLTP Unit 4 with
berkapasitas 2 x 5 MW yang a capacity of 20 MW located
terletak di WKP Gunung in Lahendong WKP, North
Sibayak-Gunung Sinabung, Sulawesi officially operated
Sumatera Utara resmi on 23 December 2011.
beroperasi pada 22
dan 30 September 2008.
• Kamojang PLTP Unit 4 with
a capacity of 60 MW located
in WKP Kamojang, West Java
officially operated on
26 January 2008.
• Sibayak PLTP Units 1 and
2 with a capacity of 2 x 5
MW located in WKP Gunung
Sibayak-Gunung Sinabung
WKP, North Sumatra officially
operated on 22 and
30 September 2008.
PT Pertamina Geothermal Energy Tbk
Page 83
Laporan Tahunan 2025 | 2025 Annual Report 81
PLTP Lahendong Unit 1 Untuk memenuhi Peraturan
berkapasitas 20 MW resmi Pemerintah No. 31 Tahun 2003,
beroperasi pada 21 Agustus Pertamina mendirikan
2001 dengan memanfaatkan Pertamina bertransformasi PT Pertamina Geothermal Energy
energi panas bumi dari Lapangan Berdasarkan Keputusan Presiden menjadi PT Pertamina (Persero) untuk mengelola kegiatan usaha
Lahendong, Sulawesi Utara. No. 76 Tahun 2000, Pertamina untuk memenuhi Undang-Undang di bidang pemanfaatan panas bumi.
Lahendong PLTP Unit 1 with mengembalikan 18 dari 33 WKP No. 22 Tahun 2001 tentang To comply with the Government
a capacity of 20 MW officially kepada Pemerintah. Minyak dan Gas Bumi. Regulation No. 31 of 2003,
operated on 21 August 2001, Based on Presidential Decree Pertamina transformed into Pertamina established
by utilizing geothermal energy No. 76 of 2000, Pertamina PT Pertamina (Persero) to comply PT Pertamina Geothermal Energy Tbk
from the Lahendong Field, North returned 18 out of 31 WKPs with Law No. 22 of 2001 to manage geothermal business
Sulawesi. to the Indonesia Government. on Oil and Gas. activities.
2001 2002 2003 2006
2012 2015 2016 2017
• Perseroan menerima • Pengembalian WKP • PLTP Ulubelu Unit 3 dengan • PLTP Ulubelu Unit 4 yang
pengalihan kuasa Gunung Iyang Argopuro kapasitas 55 MW beroperasi berkapasitas 55 MW resmi
pengusahaan sumber daya dan Kotamobagu kepada secara komersial pada beroperasi secara komersial
panas bumi atas 14 WKP Pemerintah sehingga area 26 Juli 2016. pada 25 Maret 2017.
dari Pertamina. kerja Perseroan menjadi • PLTP Lahendong Unit 5 • PT Geothermal Energi Seulawah
• PLTP Ulubelu Unit 1 dan 2 12 WKP. dan 6 berkapasitas 2 x didirikan pada 31 Juli 2017,
berkapasitas 55 MW yang • PLTP Kamojang Unit V 20 MW beroperasi secara berupa perusahaan patungan
terletak di WKP Ulubelu, berkapasitas 35 MW mulai komersial pada 15 September antara PGE dengan
Lampung resmi beroperasi beroperasi secara komersial dan 9 Desember 2016. PT Pembangunan Aceh (PEMA).
pada 16 September 2012. sejak 29 Juni 2015 dan • Ulubelu PLTP Unit 3 with • Ulubelu PLTP Unit 4 with a capacity
• The Company received diresmikan oleh Presiden Joko a capacity of 55 MW began of 55 MW officially began
the transfer of geothermal Widodo pada 7 Juli 2015. commercial operations on commercial operations on
authority from Pertamina • The return of Gunung Iyang 26 July 2016. 25 March 2017.
for 14 WKPs. Argopuro and Kotamobagu • Lahendong PLTP Units 5 and 6 • PT Geothermal Energi Seulawah
• Ulubelu PLTP Units 1 and 2 with WKP to the Government, with a capacity of 2 x 20 MW was established on 31 July 2017,
a capacity of 55 MW located reducing the Company’s WKPs began commercial operations a joint venture between PGE and
in Ulubelu WKP, Lampung to 12. on 15 September and PT Pembangunan Aceh (PEMA).
officially operated on • Kamojang PLTP Unit V with 9 December 2016
16 September 2012. a capacity of 35 MW began
commercial operations
on 29 June 2015, and was
inaugurated by President Joko
Widodo on 7 July 2015.
PT Pertamina Geothermal Energy Tbk
Page 84
82 Laporan Tahunan 2025 | 2025 Annual Report
Jejak Langkah Perseroan
Company Milestones
• PT Pertamina (Persero) menunjuk
PT Pertamina Geothermal Energy
Kotamobagu (PGE Kotamobagu)
sebagai entitas Anak PGE untuk
melaksanakan penugasan
pengusahaan panas bumi di
WKP Kotamobagu pada
19 September 2022.
• Perseroan mengubah status
menjadi perusahaan terbuka
melalui penawaran umum
perdana (IPO) saham PGE
kepada publik.
• Perseroan telah mengembangkan
pembangkit listrik biner kecil
di Area Lahendong, dengan
kapasitas terpasang sebesar
500 kW (net). Proyek ini
merupakan bagian dan
PLTP Lumut Balai Unit 1 implementasi Program Beyond
PLTP Karaha Unit 1 berkapasitas berkapasitas 55 MW Selesainya proses legal end Energy Perseroan dan telah
30 MW beroperasi secara beroperasi secara komersial state Subholding Power & diselesaikan pada Desember
komersial pada 6 April 2018. pada September 2019. Renewable Energy (PNRE). 2022.
2018 2019 2021 2022
Karaha PLTP Unit 1 with a Lumut Balai PLTP Unit 1 with The completion of the • PT Pertamina (Persero) appointed
capacity of 30 MW began a capacity of 55 MW began legal end state process for PT Pertamina Geothermal
commercial operations on commercial operations in Subholding of Power & Energy Kotamobagu (PGE
6 April 2018. September 2019. Renewable Energy (PNRE). Kotamobagu) as a Subsidiary of
PGE to conduct the assignment
of geothermal exploitation in
Kotamobagu WKP on
19 September 2022.
• Change in the status of the
Company to a public company
for the planned preparation of
initial public offering of shares
(Go Public).
• The Company has developed
a small binary power plant in
the Lahendong Area, with an
installed capacity of 500 kW
(net). This project is part of the
implementation of the Company’s
Beyond Energy program and was
completed in December 2022.
PT Pertamina Geothermal Energy Tbk
Page 85
Laporan Tahunan 2025 | 2025 Annual Report 83
• PLTP Lumut Balai Unit 2 berkapasitas
55 MW beroperasi secara komersial
• Perseroan telah melaksanakan
Penawaran Umum Saham Perdana atau pada 30 Juni 2025.
Initial Public Offering (IPO) kepada • PT Pertamina (Persero),
masyarakat sebanyak 10.350.000.000 PT PLN (Persero), PGE dan PLN IP
(sepuluh miliar tiga ratus lima puluh juta)
saham biasa dengan harga Rp875 per menandatangani Memorandum of
lembar saham pada 24 Februari 2023. Understanding (MoU) dan Head of
• Perseroan menerbitkan surat utang • PGE dan PT PLN Indonesia Power (PLN Agreement (HoA) pada 6 Agustus
berwawasan hijau (green bond) senilai IP) menandatangani Joint Development
USD400.000.000 (empat ratus juta Study Agreement (JDSA) untuk 2025 untuk pengembangan
Dolar Amerika Serikat) dengan bunga pengembangan pembangkit listrik 530 megawatt (MW) energi panas
tetap sebesar 5,15% (lima koma lima co-generation berkapasitas 230 MW. bumi yang tersebar di 19 lokasi
belas persen) per tahun dan jatuh tempo • Penandatanganan Joint Development
pada April 2028. Agreement (JDA) antara PGE dan PLN proyek.
• Perseroan bersama Chevron New IP pada tanggal 30 Mei 2024 dalam • PGE resmi meluncurkan Flow2Max®
Energies Holdings Indonesia Ltd. pengembangan pembangkit listrik yang diintegrasikan dengan 3D
membentuk PT Cahaya Anagata Energy dengan teknologi co-generation di area
untuk pengembangan WKP Way Ratai, Lahendong (15 MW) dan area Ulubelu TRASAR™ Technology pada 12
Lampung. (30 MW). Desember 2025.
2023 2024 2025
• The Company has conducted an Initial • PGE and PT PLN Indonesia Power (PLN • The 55 MW Lumut Balai PLTP Unit 2
Public Offering (IPO) to the public IP) signed a Joint Development Study
commenced commercial operations
for 10,350,000,000 (ten billion three Agreement (JDSA) for the development
hundred fifty million) common shares of a 230 MW co-generation power on June 30, 2025.
at a price of Rp875 per share. The plant. • PT Pertamina (Persero), PT PLN
Company’s shares are listed and • The Joint Development Agreement (JDA)
(Persero), PGE, and PLN IP signed
traded on the Indonesia Stock Exchange between PGE and PLN IP was signed
under the ticker code “PGEO” on on 30 May 2024, for the development a Memorandum of Understanding
24 February 2023. of power plants with co-generation (MoU) and Heads of Agreement
• The Company issued a green bond technology in the Lahendong area (15
(HoA) on 6 August 6 2025, for the
worth USD400,000,000 (four hundred MW) and the Ulubelu area (30 MW).
million United States Dollars) with a fixed development of 530 megawatts (MW)
interest rate of 5.15% (five point fifteen of geothermal energy across
percent) per annum and maturing
19 project locations.
in April 2028.
• The consortium between the Company • PGE officially launched Flow2Max®
and Chevron New Energies Holdings integrated with 3D TRASAR™
Indonesia Ltd. formed a Joint Venture
Technology on 12 December 2025.
Company, namely PT Cahaya Anagata
Energy, for the development of the
Geothermal Concession Right Area
(WKP) in Way Ratai, Lampung.
PT Pertamina Geothermal Energy Tbk
Page 86
84 Laporan Tahunan 2025 Annual Report
Visi, Misi, dan Nilai-Nilai Perseroan
Corporate Vision, Mission, and Values
Dewan Komisaris dan Direksi PGE telah menyetujui visi, misi The Board of Commissioners and Board of Directors of PGE
dan nilai-nilai Perseroan. Nilai-nilai Perseroan ditetapkan dalam have approved the Corporate vision, mission, and values.
Kebijakan Umum Perusahaan yang disetujui oleh seluruh Direksi The Corporate values
are outlined in the Company’s General
Perseroan pada tanggal 17 Juli 2023. Policy, which was approved by the entire Board of Directors
on 17 July 2023.
Visi
Vision “World Class Green Energy Company with
Largest Geothermal Capacity Globally”
“World-Class Green Energy Company with the Largest
Geothermal Capacity Globally”
• Menciptakan nilai dengan memaksimalkan
Misi pengelolaan end-to-end potensi panas
Mission bumi beserta produk turunannya.
• Mendukung dan berpartisipasi dalam
agenda dekarbonisasi nasional dan global.
• Create value by maximizing end-to-end management
of geothermal potential and its derivative products.
• Support and participate in the national and global
decarbonization agenda.
PT Pertamina Geothermal Energy Tbk
Page 87
Laporan Tahunan 2025 Annual Report 85
Nilai-nilai Perseroan
Corporate Values
AMANAH | TRUSTWORTHY
Memegang teguh kepercayaan yang telah diberikan.
Commitment to uphold the trust given.
KOMPETEN | COMPETENT
Terus belajar dan mengembangkan kapabilitas.
Constant commitment to continuous learning and capability development.
HARMONIS | HARMONY
Saling peduli dan menghargai perbedaan.
Commitment to mutual care and respect for differences.
LOYAL | LOYAL
Berdedikasi dan mengutamakan kepentingan bangsa dan negara.
Constant dedication and priority for the interests of the nation and state.
ADAPTIF | ADAPTIVE
Terus berinovasi dan antusias dalam menggerakkan atau pun menghadapi perubahan.
Commitment to continuous innovation and enthusiasm in driving or facing changes.
KOLABORATIF | COLLABORATIVE
Membangun kerja sama yang sinergis.
Constant spirit embodiment to fostering synergistic cooperation.
PT Pertamina Geothermal Energy Tbk
Page 88
86 Laporan Tahunan 2025 | 2025 Annual Report
Kegiatan Usaha
Business Activities
Kegiatan Usaha Perseroan Berdasarkan The Company’s Business Activities based
Anggaran Dasar on Articles of Association
PGE menjalankan usaha dan kegiatan di bidang panas bumi PGE runs business and activities in the geothermal sector
sesuai dengan anggaran dasar Perseroan. Berdasarkan Pasal as outlined in the Company’s Articles of Association. Pursuant
3 Anggaran Dasar, Perseroan didirikan dengan maksud untuk to Article 3 of the Articles of Association, the Company was
menyelenggarakan usaha di bidang panas bumi dari sisi hulu established with the aim of running business in the geothermal
dan/atau sisi hilir, baik di dalam maupun di luar negeri, serta sector from the upstream and/or downstream sides, both
kegiatan usaha lain yang terkait atau menunjang kegiatan usaha at home and abroad, as well as other business activities related
di bidang panas bumi tersebut dengan menerapkan prinsip- to or supporting business activities in the geothermal sector
prinsip Perseroan. by applying the Company’s principles.
Kegiatan Usaha Perseroan The Company’s Business Activities for the
pada Tahun Buku Financial Year
Kegiatan Usaha Utama Main Business Activities
Kegiatan usaha utama PGE berupa pengusahaan panas bumi The main business activity of PGE is geothermal exploitation
untuk pemanfaatan tidak langsung, meliputi: for indirect utilization, covering:
Pengusahaan Tenaga Panas Bumi
Geothermal Energy Exploitation
Kode/Code KBLI_06202
Menyelenggarakan usaha pencarian dan pengeboran tenaga panas bumi
termasuk lokasi di kawasan hutan, dan kegiatan lain yang berhubungan dengan
pengusahaan tenaga panas bumi sampai ke tempat pemanfaatannya.
Conducting geothermal exploration and drilling, including in forest areas,
and other activities related to geothermal energy exploitation up to its
place of utilization.
PT Pertamina Geothermal Energy Tbk
Page 89
Laporan Tahunan 2025 | 2025 Annual Report 87
Pengusahaan Tenaga Listrik
Electricity Exploitation
Kode/Code KBLI_35111
Menyelenggarakan usaha memproduksi tenaga listrik melalui pembangkitan
tenaga listrik yang menggunakan berbagai jenis sumber energi termasuk sumber
energi fosil (batu bara, gas, bahan bakar minyak, dan diesel), sumber energi
terbarukan (panas bumi, angin, bioenergi, sinar matahari, aliran dan terjunan
air, gerakan dan perbedaan suhu lapisan laut), sumber energi hybrid yang
menggabungkan sumber energi fosil dengan energi terbarukan, dan energi
yang berasal dari teknologi energy storage.
Operating a business producing electricity through power generation using
various energy sources, including fossil fuels (coal, gas, fuel oil, and diesel),
renewable energy sources (geothermal, wind, bioenergy, sunlight, water flows
and waterfalls, ocean floor movements and temperature differences), hybrid
energy sources that combine fossil fuels with renewable energy sources,
and energy derived from energy storage technology.
Kegiatan Usaha Pendukung/Penunjang Supporting Business Activities
Kegiatan usaha pendukung/penunjang merupakan pengusahaan Supporting business activities involves the exploitation
panas bumi untuk pemanfaatan langsung, antara lain: of geothermal energy for direct use, including:
Menyelenggarakan usaha yang Menyelenggarakan usaha Jasa pengujian laboratorium.
menyediakan tempat industri kimia.
dan fasilitas. Laboratory testing services.
Operating a chemical industry
Operating a business that business.
provides premises and facilities.
Industri alat uji Aktivitas keinsinyuran dan Agrobisnis.
dalam proses industri. konsultasi teknis.
Agribusiness.
Industrial in-process testing Engineering and technical
equipment industry. consulting activities.
PT Pertamina Geothermal Energy Tbk
Page 90
88 Laporan Tahunan 2025 | 2025 Annual Report
Produk dan Jasa yang Dihasilkan dari Products And Services Generated from
Kegiatan Usaha Business Activities
Perseroan menghasilkan produk dari kegiatan usaha yang The Company generates products from its business activities,
dijalankan, yaitu: namely:
1. Uap (Skema Upstream Project) 1. Steam (Upstream Project Scheme)
Dalam skema Upstream Project, Perseroan berperan sebagai In the Upstream Project scheme, the Company acts as a seller
penjual uap panas bumi yang disalurkan ke Pembangkit of geothermal steam, which is distributed to Geothermal
Listrik Tenaga Panas Bumi (PLTP) milik pembeli, PT Perusahaan Power Plants (PLTP) owned by buyers, namely PT Perusahaan
Listrik Negara (Persero) atau PLN, PT Indonesia Power, serta Listrik Negara (Persero) or PLN, PT Indonesia Power,
produsen listrik independen (Independent Power Producer and Independent Power Producers (IPPs) such as PT Dizamatra
atau IPP) seperti PT Dizamatra Powerindo. Hubungan antara Powerindo. The relationship between the Company and
Perseroan dan para pembeli tersebut diatur melalui Perjanjian these buyers is governed by a Steam Sales and Purchase
Jual Beli Uap (PJBU). Agreement (PJBU).
2. Listrik (Skema Total Project) 2. Electricity (Total Project Scheme)
Dalam skema Total Project, Perseroan berperan sebagai In the Total Project scheme, the Company acts as a seller
penjual tenaga listrik yang dihasilkan dari Pembangkit Listrik of electricity generated from the Company’s Geothermal
Tenaga Panas Bumi (PLTP) milik Perseroan, untuk disalurkan Power Plants (PLTP), to be distributed through the transmission
melalui jaringan transmisi atau distribusi milik PT PLN or distribution network owned by PT PLN (Persero), the buyer.
(Persero) sebagai pembeli. Hubungan antara Perseroan dan The relationship between the Company and PT PLN (Persero)
PT PLN (Persero) diatur melalui Perjanjian Jual Beli Tenaga is governed by a Power Sales and Purchase Agreement (PJBL).
Listrik (PJBL).
3. Kredit Karbon 3. Carbon Credits
PGE berperan sebagai penyedia kredit karbon di pasar PGE acts as a provider of carbon credits in both international
internasional maupun domestik melalui Bursa Karbon and domestic markets through the Indonesian Carbon
Indonesia (IDXCarbon). Exchange (IDXCarbon).
Produksi Uap dan Listrik dari Steam and Electricity Production from
Pengelolaan Sendiri (Own Operations) Own Operations
Wilayah Kerja Penjualan Produk Kapasitas Terpasang (MW) Realisasi Produksi (MWh) Tanggal Operasi Komersial
Unit
Working Area Product Sales Installed Capacity (MW) Product Realization (MWh) Date of Commercial Operation
Kamojang, Uap 28 Januari 1983
1 30 217.214
Jawa Barat Steam 28 January 1983
West Java
Uap 2 Oktober 1987
2 55 431.909
Steam 2 October 1987
Uap
3 55 420.423 15 November 1987
Steam
Listrik 2 Oktober 1987
4 60 480.954
Electricity 2 October 1987
Listrik 29 Juni 2015
5 35 255.906
Electricity 29 June 2015
Total 235 1.806.406
PT Pertamina Geothermal Energy Tbk
Page 91
Laporan Tahunan 2025 | 2025 Annual Report 89
Wilayah Kerja Penjualan Produk Kapasitas Terpasang (MW) Realisasi Produksi (MWh) Tanggal Operasi Komersial
Unit
Working Area Product Sales Installed Capacity (MW) Product Realization (MWh) Date of Commercial Operation
Lahendong, Uap 21 Agustus 2001
1 20 107.875
Sulawesi Utara Steam 21 August 2001
North Sulawesi
Uap 19 Juni 2007
2 20 127.875
Steam 19 June 2007
Uap
3 20 125.410 7 April 2009
Steam
Uap 23 Desember 2015
4 20 161.528
Steam 23 December 2015
Listrik
5 20 162.238 15 September 2016
Electricity
Listrik 9 Desember 2016
6 20 163.899
Electricity 9 December 2016
Total 120 848.825
Sibayak, Uap
1 5 0 22 September 2008
Sumatera Utara Steam
North Sumatera
Uap
2 5 0 22 September 2008
Steam
Listrik 8 Agustus 1996
Monoblok 2 0
Electricity 8 August 1996
Total 12 0
Ulubelu, Lampung Uap
1 55 386.014 16 September 2012
Steam
Uap 24 Oktober 2012
2 55 404.629
Steam 24 October 2012
Listrik 26 Juli 2016
3 55 425.971
Electricity 26 July 2016
Listrik 25 Maret 2017
4 55 399.915
Electricity 25 March 2017
Total 220 1.616.529
Karaha,
Listrik
Jawa Barat 1 30 109.627 6 April 2018
Electricity
West Java
Total 30 109.627
Lumut Balai
Listrik
Sumatera Selatan 1 55 472.289 1 September 2019
Electricity
South Sumatera
Lumut Balai
Listrik 30 Juni 2025
Sumatera Selatan 2 55 241.810
Electricity 30 June 2025
South Sumatera
Total 110 714.099
Grand Total 727 5.095.486
PT Pertamina Geothermal Energy Tbk
Page 92
90 Laporan Tahunan 2025 | 2025 Annual Report
Kredit Karbon
Carbon Credits
Kredit Karbon: Kontribusi Menurunkan Carbon Credits: Contribution to Reducing
Emisi Global Global Emissions
Pengelolaan proyek kredit karbon merupakan bagian dari Since 2011, carbon credit projects management has been part
komitmen PGE dalam memanfaatkan panas bumi sebagai of PGE’s commitment to utilizing geothermal energy as a low-
sumber energi rendah emisi sejak tahun 2011. Hingga 2025, emission energy source. As of 2025, PGE has managed six
PGE mengelola 6 (enam) proyek karbon kredit dengan total carbon credit projects with a total volume of ~1.5 million tCO2e
volume ~1.5 Juta tCO2e per tahun. per year.
Estimated Emission
No Carbon Credit Project Carbon Credit Buyer
Reduction (tCO2eq/year)
1 SRN Lahendong 5-6 181.030
2 Gold Standard Ulubelu 3-4 581.518
3 REC Kamojang 5 236.520*
4 Gold Standard Karaha 1 156.669
5 Gold Standard Lumut Balai 1-2 581.784
6 CDM Lumut Balai 3-4 581.784
*) dalam MWh | in MWh
Dengan jejak karbon hingga 10 kali lebih rendah dibandingkan PGE’s concrete contribution to reducing global emissions
pembangkit listrik sumber daya tak terbarukan, energi listrik is geothermal electricity, which has a carbon footprint up to ten
dari panas bumi menjadi wujud nyata kontribusi PGE terhadap times lower than non-renewable power plants.
pengurangan emisi global.
Perseroan mulai menyediakan kredit karbon di pasar After earning both Gold Standard (GS) and Certified Emission
internasional pada tahun 2022, khususnya di Eropa, setelah Reduction (CER) certifications, the Company started offering
memperoleh sertifikasi Certified Emission Reduction (CER) dan carbon credits on the international market in 2022, especially
Gold Standard (GS) CER. Hingga 31 Desember 2025, Sertifikasi in Europe. As of 31 December 2025, these certifications were
tersebut diberikan untuk proyek Clean Development Mechanism granted for the Clean Development Mechanism (CDM) projects in
(CDM) di Area Ulubelu Unit 3 dan 4 sebesar 1.860.063 ton the Ulubelu Unit 3 and 4 areas, totaling 1,860,063 tons CO2eq,
CO2eq, serta Area Karaha Unit 1 sebesar 192.809 ton CO2eq. and the Karaha Unit 1 area, totaling 192,809 tons CO2eq.
PT Pertamina Geothermal Energy Tbk
Page 93
Laporan Tahunan 2025 | 2025 Annual Report 91
Gold Standard CDM yang merupakan premium label dalam The Gold Standard CDM, a premium label used to assess
menilai kualitas dan manfaat proyek terhadap pembangunan a project’s quality and benefits for sustainable development,
berkelanjutan, menjadi pencapaian penting bagi Perseroan is a significant achievement for the Company, as it is the first Gold
karena merupakan sertifikasi Gold Standard CDM pertama Standard CDM certification in the geothermal sector in Indonesia.
dalam sektor geotermal di Indonesia.
Seiring dengan berdirinya Bursa Karbon Indonesia (IDX Carbon) Following the establishment of the Indonesian Carbon Exchange
pada 26 September 2023, Perseroan berperan menjadi (IDX Carbon) on 26 September 2023, the Company became
perusahaan pertama penyedia karbon. Perdagangan di IDX the first carbon provider. Trading on IDX Carbon involves
Carbon ini melibatkan proyek Lahendong (Unit 5 dan 6) yang the Lahendong projects (Units 5 and 6), a collaboration
merupakan hasil kerja sama PGE dengan Pertamina NRE sejak between PGE and Pertamina NRE since April 2023. A total of
April 2023. Total karbon yang diterbitkan 864.209 ton CO2eq 864,209 tons of Verified Carbon Units (VCUs) were issued, and
Verified Carbon Unit (VCU) dan hingga 31 Desember 2025, as of 31 December 2025, 863,295 tons of VCUs had been sold.
telah terjual sebanyak 863.295 ton CO2eq VCU.
Penjualan kredit karbon ini dilakukan oleh Pertamina NRE Pertamina NRE, as the Subholding Power & New Renewable
sebagai Subholding Power & New Renewable Energy, sementara Energy, sold these carbon credits, while PGE acted as the carbon
PGE berperan sebagai penyedia pasokan karbon. supply provider.
PT Pertamina Geothermal Energy Tbk
Page 94
92 Laporan Tahunan 2025 | 2025 Annual Report
Wilayah Kerja Panas Bumi
Geothermal Working Areas
PGE mengelola Wilayah Kuasa Pengusahaan (WKP) panas PGE manages geothermal Concession Right Areas (WKP) with
bumi dengan kapasitas terpasang sebesar 1.943 MW, yang an installed capacity of 1,943 MW, consisting of 727 MW
terdiri dari 727 MW untuk WKP yang Dikelola Sendiri (Own under Own Operations and 1,216 MW under Joint Operation
Operations) dan 1.216 MW melalui Kontrak Operasi Bersama Contracts (JOC).
(KOB) atau Joint Operation Contract (JOC).
55MW
Lumut Balai Unit 1
Sungai Penuh 55MW
Jambi Lumut Balai Unit 2
55MW 30MW
Lumut Balai Unit 3 Karaha Unit 1
55MW Jawa Barat
Lumut Balai Unit 4 West Java
Sumatera Selatan
South Sumatra
381MW
JOC Gn. Salak
Seulawah Jawa Barat
Aceh 12MW West Java
Sibayak
Sumatera Utara
North Sumatra
230,5MW
JOC Wayang Windu
330MW Jawa Barat
JOC Sarulla West Java 274,5MW
Sumatera Utara JOC Darajat
North Sumatra Jawa Barat
55MW West Java
Hululais Unit 1
55MW
Hululais Unit 2
Bengkulu Way Ratai 235MW
Lampung Kamojang Unit 1-5
60MW Jawa Barat
Bukit Daun 220MW West Java
Bengkulu Ulubelu Unit 1-4
Lampung
55MW
Gunung Tiga JOC Bedugul
Lampung Bali
Operasi Sendiri Eksplorasi
Own Operation Exporation
Pengembangan Operasi Bersama
Development Joint Operation Contract
PT Pertamina Geothermal Energy Tbk
Page 95
Laporan Tahunan 2025 | 2025 Annual Report 93
120MW
Lahendong Unit 1-6
45+5MW
727MW
KAPASITAS TERPASANG
Lahendong Unit 7-8 YANG DIKELOLA SENDIRI
Sulawesi Utara OWN OPERATION INSTALLED CAPACITY
North Sulawesi
50+14MW
Kotamobagu
72%
Kapasitas terpasang panas bumi di Indonesia
Sulawesi Utara
berada di Wilayah Kerja Panas Bumi PGE
North Sulawesi
of geothermal installed capacity in Indonesia
is within PGE Geothermal Working Areas
Hingga 31 Desember 2025, Perseroan mengelola 15 Wilayah As of 31 December 2025, the Company manages 15 (fifteen)
Kerja (WK) yang terdiri dari 12 WKP dan 2 (dua) Wilayah Kerja Working Areas (WK), consisting of 12 WKPs and 2 (two)
Izin Panas Bumi (IPB). Melalui usaha gabungan (Joint Venture), Geothermal Permit Working Areas (IPB). Through a joint venture,
Perseroan juga mengelola 1 (satu) Wilayah Kerja IPB. Seluruh the Company also manages 1 (one) IPB Working Area. All
wilayah kerja tersebar di Sumatera, Jawa, Bali, dan Sulawesi. working areas are located across Sumatra, Java, Bali, and
Sulawesi.
PT Pertamina Geothermal Energy Tbk
Page 96
94 Laporan Tahunan 2025 | 2025 Annual Report
Dasar Hukum
Status WKP
Legal Basis
WKP yang Dikelola Sendiri (Own 1. Kamojang-Darajat Kepmen ESDM No. 2067 K/30/MEM/2012 tanggal
Operations) 2. Cibeureum-Parabakti 18 Juni 2012.
3. Lahendong
Own Operations WKP 4. Pangalengan ESDM Ministerial Decree No. 2067 K/30/MEM/2012
5. Tabanan dated 18 June 2012.
6. Karaha Cakrabuana
7. Gunung Sibayak-Gunung Sinabung
8. Gunung Sibual-buali
9. Gunung Way Panas
10. Sungai Penuh
11. Lumut Balai & Margabayur
12. Hululais
Wilayah Kerja Berdasarkan Izin Panas Seulawah Agam Keputusan Kepala Badan Koordinasi Penanaman Modal No.
Bumi (IPB) 1/1/IPB/ PMDN/2018 tanggal 9 April 2018. WKP dikelola
oleh PT Geothermal Energi Seulawah selaku perusahaan
patungan antara PGE dengan PT Pembangunan Aceh
(PEMA).
Working Areas under Geothermal Permit Decree of the Head of the Investment Coordinating Board
(IPB) No. 1/1/IPB/ PMDN/2018 dated 9 April 2018. WKP
is managed by PT Geothermal Energi Seulawah as a joint
venture between PGE and PT Pembangunan Aceh (PEMA).
Wilayah Kerja Berdasarkan IPB dan Kotamobagu Keputusan Menteri ESDM No.143/K/36/ MEM/2020
Merupakan Penugasan PT Pertamina tanggal 3 Agustus 2020 juncto Keputusan Menteri ESDM
(Persero) No. 14.K/EK/01/MEM.E/2022 tanggal 20 Januari
2022. WKP dikelola oleh PT Pertamina Geothermal Energy
Kotamobagu selaku Anak Perusahaan PGE.
ESDM Ministerial Decree No. 143/K/36/ MEM/2020
Working Areas under Geothermal Permit dated 3 August 2020 juncto ESDM Ministerial Decree
(IPB) and is assigned by PT No. 14.K/EK/01/MEM.E/2022 dated 20 January 2022.
Pertamina (Persero) The WKP is managed by PT Pertamina Geothermal Energy
Kotamobagu as a subsidiary of PGE.
Wilayah Kerja Berdasarkan IPB dengan Way Ratai Keputusan Menteri Energi dan Sumber Daya Mineral Nomor
Usaha Gabungan 118.K/EK.01/ MEM/2023 tanggal 12 Juni 2023. WKP
dikelola oleh PT Cahaya Anagata Energy yang merupakan
perusahaan konsorsium antara Perseroan dan Chevron New
Energies Holdings Indonesia Ltd.
Working Areas under Geothermal Permit Decree of the Minister of Energy and Mineral Resources
(IPB) and Joint Venture scheme Number 118.K/EK.01/ MEM/2023 dated 12 June 2023.
The WKP is managed by PT Cahaya Anagata Energy, which
is a consortium company between the Company and Chevron
New Energies Holdings Indonesia Ltd.
WKP Dikelola Sendiri Own Operations WKP
WKP yang Dikelola Sendiri (Own Operations) oleh PGE PGE’s own operations WKP consists of 6 (six) commercially
mencakup 6 (enam) lapangan yang telah beroperasi secara operating fields with a total installed capacity of 727 MW. These
komersial dengan total kapasitas terpasang sebesar 727 MW. fields are Kamojang (235 MW), Ulubelu (220 MW), Lahendong
Lapangan-lapangan tersebut meliputi: Kamojang (235 MW), (120 MW), Sibayak (12 MW), Karaha (30 MW), and Lumut
Ulubelu (220 MW), Lahendong (120 MW), Sibayak (12 MW), Balai (110 MW). In addition, PGE operates a 0.5 MW binary
Karaha (30 MW) dan Lumut Balai (110 MW). Selain itu, PGE power plant in the Lahendong area, which is used for internal
juga mengoperasikan pembangkit listrik binary plant di Area operational needs (own use).
Lahendong berkapasitas 0,5 MW yang dimanfaatkan untuk
memenuhi kebutuhan operasional internal (own use).
Hingga akhir tahun 2025, PGE sedang mengerjakan beberapa By the end of 2025, PGE is still working on several development
proyek pengembangan, di antaranya proyek Hululais projects, including the Hululais Unit 1 and 2 (110 MW),
Unit 1 dan 2 (110 MW), Bukit Daun (60 MW), Lahendong Bukit Daun (60 MW), Lahendong Unit 7 & 8 and Binary
Unit 7 & 8 dan Binary Unit 2 (50 MW), serta Lumut Balai Unit 3 Unit 2 (50 MW), and Lumut Balai Unit 3 and 4 (110 MW)
dan 4 (110 MW). Sementara itu, terdapat lapangan-lapangan projects. Meanwhile, other fields are still in the exploration stage,
lain yang masih dalam tahap eksplorasi, yakni Gunung Tiga, namely Gunung Tiga, Tanjung Tiga, Seulawah, Sungai Penuh,
Tanjung Tiga, Seulawah, Sungai Penuh, Kotamobagu, dan Way Kotamobagu, and Way Ratai.
Ratai.
PT Pertamina Geothermal Energy Tbk
Page 97
Laporan Tahunan 2025 | 2025 Annual Report 95
Pada tanggal 5 Agustus 2025 PT Pertamina (Persero) dan PT PLN On 5 August 2025, PT Pertamina (Persero) and PT PLN (Persero)
(Persero) menandatangani Nota Kesepahaman (Memorandum signed a Memorandum of Understanding (MoU) as a strategic
of Understanding/MoU) sebagai bentuk kesepakatan strategis agreement to accelerate geothermal energy development in
untuk mempercepat pengembangan energi panas bumi support of the national energy transition. This agreement is
dalam mendukung transisi energi nasional. Kesepakatan ini implemented through their respective affiliates, PGE and PLN IP,
dilaksanakan melalui afiliasi masing-masing, yaitu PGE dan PLN and is further outlined in a Heads of Agreement (HoA).
IP, yang dituangkan lebih lanjut dalam Head of Agreement (HoA).
Penandatanganan ini merupakan tindak lanjut atas This signing comes after PGE and PLN IP signed the Joint
penandatanganan Joint Development Study Agreement (JDSA) Development Study Agreement (JDSA) and Joint Development
dan Joint Development Agreement (JDA) antara PGE dan PLN IP Agreement (JDA) in 2024.
pada tahun 2024.
Kerja sama tersebut difokuskan pada percepatan pengembangan The collaboration focuses on accelerating the development of
19 proyek panas bumi existing dengan total potensi kapasitas 19 (nineteen) existing geothermal projects with a total potential
terpasang mencapai 530 megawatt (MW). Proyek-proyek installed capacity of 530 megawatts (MW). These projects include
tersebut mencakup 7 (tujuh) proyek brownfield, 8 (delapan) 7 (seven) brownfield projects, 8 (eight) yellowfield projects, and
proyek yellowfield, dan 4 (empat) proyek greenfield yang 4 (four) greenfield projects spread across several WKPs, namely
tersebar di sejumlah WKP, yaitu Hululais, Ulubelu, Lumut Balai, Hululais, Ulubelu, Lumut Balai, Lahendong, Kamojang, Sungai
Lahendong, Kamojang, Sungai Penuh, dan Kotamobagu. Penuh, and Kotamobagu.
WKP Dikelola Melalui Kontrak Operasi WKP Managed Through Joint Operation
Bersama (KOB) Contracts (JOC)
Hingga akhir tahun 2025, PGE memiliki WKP yang dikelola As of the end of 2025, PGE has 5 (five) fields of Concession
melalui KOB atau Joint Operation Contract (JOC) sebanyak Right Areas (WKP) managed under Joint Operation Contract
5 (lima) lapangan. Dari jumlah itu, 4 (empat) lapangan sudah (JOC). Of that number, 4 (four) fields are already in commercial
beroperasi komersial yaitu Gunung Salak (381 MW), Darajat operation, namely Gunung Salak (381 MW), Darajat
(274,5 MW), Wayang-Windu (230,5 MW), Sarulla (330 MW), (274.5 MW), Wayang-Windu (230.5 MW), and Sarulla
dan satu lapangan dalam tahap eksplorasi yaitu di wilayah (330 MW), and one field is in the exploration stage, namely in
Bedugul, Bali. the Bedugul area, Bali.
PT Pertamina Geothermal Energy Tbk
Page 98
96 Laporan Tahunan 2025 | 2025 Annual Report
Struktur Organisasi
Organizational Structure
Berdasarkan Surat Keputusan Direktur Utama Nomor Kpts.P-094/
PGE000/2024-S8 tanggal 16 Desember 2024 dan Anggaran Rapat Umum Pemegang Saham (RUPS)
Dasar dengan Akta Nomor 34 tanggal 16 Juni 2025, Struktur General Meeting Of Shareholders (GMS)
Organisasi Perseroan hingga 31 Desember 2025 adalah:
Pursuant to the Decree of the President Director No. Kpts.P-094/
PGE000/2024-S8 dated 16 December 2024 and the Articles
Direktur Utama
of Association as set forth in Deed No. 34 dated 16 June 2025,
President Director
the Company’s organizational structure through 31 December Julfi Hadi
2025 is as follows:
Executive Secretary Corporate Secretary
Fahlia Rosalina Kitty Andhora
Vice President HSSE
Achmad Sri Fadli
Direktur Eksplorasi & Pengembangan
Direktur Operasi Direktur Keuangan
Director of Exploration
Director of Operations Director of Finance
and Development
Ahmad Yani Yurizki Rio Simbara Vice President HC
Edwil Suzandi
& Business Support
Rivani Pahlani
Chief Audit Executive
Vice President Vice President Operation General Manager Vice President Strategic
Arie Bimantoro
Business Development & Engineering Area Kamojang Planning & Sustainability
Fifi Andi Joko Nugroho I Made Budi K. A. P Lia Ayu Paramita
Manager Legal &
Vice President Commercial Vice President Project General Manager Vice President Compliance
& Partnership Development Area Lahendong Corporate Finance Adityo Haryoseto
Bagus Bramantio Fandi Indra B. Albertus Novi P. Vacant
Vice President Surface Facility Expert
General Manager
Vice President Exploration Manager Laboratory Controlling & Reporting Vacant
Area Ulubelu
Jayanti Anggraini Teza Permana Pramono
Edy Sudarmadi
Agungnugroho
General Manager Subsurface Expert
Vice President Exploitation Manager Investor Relation Djanarto
Area Lumut Balai
Pudyo Hastuti Ronald Andre P. H.
Catur Hendro U. S.
Vice President General Manager Drilling Expert
Geothermal Drilling Area Karaha Apriyansah Toni
Tesha Yanuaris Dwi C
Manager Enterprise
Manager Sibayak Risk Management
Indra Mantik O Sentot Yulianugroho
PT Pertamina Geothermal Energy Tbk
Page 99
Laporan Tahunan 2025 | 2025 Annual Report 97
Komisaris Utama
President Commissioner
Gigih Udi Atmo
Sekertaris Dewan Komisaris
Secretary to the Board of Commissioners
Anna Muslikhah Jamil
Komisaris Independen selaku Komisaris Utama selaku
Komisaris Independen Ketua Komite Nominasi dan Ketua Komite Investasi dan
selaku Ketua Komite Audit Remunerasi Manajemen Risiko Komisaris Komisaris
Independent Commissioner as Independent Commissioner as Commissioner as Chair Commissioner Commissioner
Chair of the Audit Committee Chair of the Nomination and of Investment and Risk Abdulla Zayed John Anis
Mohammad Firmansyah Remuneration Committee Management Committee
Abdul Musawir Yahya Gigih Udi Atmo
Komisaris, selaku anggota Anggota Komite Nominasi Komisaris selaku Anggota
Komite Audit dan Remunerasi Komite Investasi
Commissioner, as a Nomination and dan Manajemen Risiko
member of the Audit Remuneration Committee Commissioner as Member
Committee Member of the Investment and Risk
Abdulla Zayed David Marito Saragih Management Committee
Turnip John Anis
Anggota Komite Audit Anggota Komite Nominasi Anggota Komite Investasi
Audit Committee dan Remunerasi Member of the Investment
Member Nomination and Committee
Budi Herdiyanto Remuneration Andree Mulia
Committee Member Krisdiansyah Harahap
Purwitohadi
Anggota Komite Audit Anggota Komite Investasi
Audit Committee Member of the Investment
Member Committee
Agus Waluyo Yoga Marantika
PT Pertamina Geothermal Energy Tbk
Page 100
98 Laporan Tahunan 2025 | 2025 Annual Report
Susunan Dewan Komisaris
dan Direksi
Composition of The Board of Commissioners and Board of Directors
Perubahan Susunan Dewan Komisaris Changes to the Composition of the Board
Setelah Akhir Tahun Buku 2025 of Commissioners After the End of the
2025 Financial Year
Periode Masa Periode Masa
Sebelum Perubahan Setelah Perubahan Dasar Perubahan Alasan Perubahan
Jabatan Jabatan
Before the Change After the Change Basis for the Change Reason for the Change
Term of Office Term of Office
Sarman Simanjorang 23 Oktober 2020– Gigih Udi Atmo 20 Agustus 2025– Pembaruan melalui Keputusan Berakhirnya masa
(Komisaris Utama/ 25 Februari 2022 (Komisaris Utama) 30 Juli 2027 RUPSLB Tahun 2025 tanggal jabatan sesuai
Komisaris Independen) (Periode Pertama) 20 Agustus 2025 yang ketentuan (maksimal
dinyatakan dalam Akta 5 tahun).
25 Februari 2022– Notaris No. 33 Tanggal
24 Februari 2025 28 Agustus 2025.
(Periode Kedua)
(President 23 October 2020– Gigih Udi 20 August 2025– Renewal through the The end of the term of
Commissioner/ 25 February 2022 Atmo (President 30 July 2027 Resolution of the 2025 EGMS office according to the
Independent (First Term) Commissioner) dated 20 August 2025, as provisions (maximum
Commissioner) stated in Notarial Deed No. 5 years).
25 February 2022– 33 dated 28 August 2025.
24 February 2025
(Second Term)
Abdulla Zayed 28 Mei 2024– Abdulla Zayed 28 Mei 2024– Pembaruan melalui Keputusan Perubahan status
(Komisaris Independen) 27 Mei 2027 (Komisaris) 27 Mei 2027 RUPSLB Tahun 2025 tanggal untuk memastikan
20 Agustus 2025 yang tidak terdapat potensi
dinyatakan dalam Akta benturan kepentingan.
Notaris No. 33 Tanggal
28 Agustus 2025.
(Independent 28 May 2024– Abdulla Zayed 28 May 2024– Renewal through the Change of status to
Commissioner) 27 May 2027 (Commissioner) 27 May 2027 Resolution of the 2025 EGMS ensure there is no
dated 20 August 2025, as potential conflict of
stated in Notarial Deed No. interest.
33 dated 28 August 2025.
Abdul Musawir Yahya 31 Juli 2024– Abdul Musawir 31 Juli 2024– Keputusan RUPSLB Tahun -
(Komisaris Independen) 30 Juli 2027 Yahya 30 Juli 2027 2024 tanggal 31 Juli 2024
(Komisaris yang dinyatakan dalam Akta
Independen) Notaris No. 8 tanggal
8 Agustus 2024.
(Independent 31 July 2024– Abdul Musawir 31 July 2024– Resolution of the 2024 EGMS
Commissioner) 30 July 2027 Yahya (Independent 30 July 2027 dated 31 July 2024, as stated
Commissioner) in Notarial Deed No. 8 dated
8 August 2024.
PT Pertamina Geothermal Energy Tbk
Page 101
Laporan Tahunan 2025 | 2025 Annual Report 99
Periode Masa Periode Masa
Sebelum Perubahan Setelah Perubahan Dasar Perubahan Alasan Perubahan
Jabatan Jabatan
Before the Change After the Change Basis for the Change Reason for the Change
Term of Office Term of Office
John Anis 28 Mei 2024– John Anis 28 Mei 2024– Keputusan RUPS Tahunan -
(Komisaris) 27 Mei 2027 (Komisaris) 27 Mei 2027 Tahun Buku 2024 tanggal
28 Mei 2024 yang
dinyatakan dalam Akta
Notaris No. 19 tanggal 10
Juni 2024.
(Commissioner) 28 May 2024– John Anis 28 May 2024– Resolution of the AGMS for
27 May 2027 (Commissioner) 27 May 2027 the 2024 Financial Year
dated 28 May 2024, as
stated in Notarial Deed No.
19 dated 10 June 2024
Gigih Adi Atmo 31 Juli 2024– Mohammad 20 Agustus 2025– Keputusan RUPSLB Tahun -
(Komisaris) 30 Juli 2027 Firmansyah 19 Agustus 2028 2025 tanggal 20 Agustus
(Komisaris 2025 yang dinyatakan dalam
Independen) Akta Notaris No. 33 Tanggal
28 Agustus 2025.
(Commissioner) 31 July 2024– Mohammad 20 August 2025– Resolution of the 2025 EGMS
30 July 2027 Firmansyah 19 August 2028 dated 20 August 2025, as
(Independent stated in Notarial Deed No.
Commissioner) 33 dated 28 August 2025.
PT Pertamina Geothermal Energy Tbk
Page 102
100 Laporan Tahunan 2025 | 2025 Annual Report
Profil Dewan Komisaris
Board of Commissioners Profile
Usia | Age 47 tahun | 47 years old
Kewarganegaraan | Indonesia | Indonesian
Citizenship
Tempat & Tanggal Lahir| Surakarta, 4 Mei 1978
Place & Date of Birth
Surakarta, 4 May 1978
Domisili | Domicile DKI Jakarta
Dasar Hukum Pengangkatan • Pertama kali diangkat sebagai Komisaris Perseroan
Legal Basis of Appointment berdasarkan Keputusan RUPSLB Tahun 2024 tanggal
31 Juli 2024 yang dinyatakan dalam Akta Notaris
No. 8 Tanggal 6 Agustus 2024.
• Diangkat sebagai Komisaris Utama Perseroan berdasarkan
Keputusan RUPSLB tahun 2025 tanggal 20 Agustus 2025 yang
dinyatakan dalam Akta Notaris No. 33 Tanggal
28 Agustus 2025.
• Appointed as Commissioner of the Company for the first time
based on the EGMS 2024 Resolution dated 31 July 2024,
as stated in Notarial Deed No. 8 dated 6 August 2024.
• Appointed as President Commissioner of the Company based
on the Resolution of the 2025 EGMS dated 20 August 2025,
as stated in Notarial Deed No. 33 dated 28 August 2025.
Periode Menjabat | 31 Juli 2024 - 30 Juli 2027
Term of Office
31 July 2024 - 30 July 2027
Latar Belakang Pendidikan • Doctor of Philosophy, University of Melbourne (2016).
Educational Background • Master of Engineering Project Management, University of
Melbourne (2008).
• Sarjana Teknik Elektro, Universitas Gadjah Mada (2001).
• Doctor of Philosophy, University of Melbourne (2016).
• Master of Engineering Project Management, University of
Melbourne (2008).
• Bachelor of Electrical Engineering, Gadjah Mada University
(2001).
Riwayat Jabatan • Direktur Panas Bumi, Kementerian Energi dan Sumber Daya
Work Experience Mineral (2024-Saat ini).
• Direktur Konservasi Energi - Direktorat Jenderal Energi Baru
Terbarukan dan Konservasi Energi, Kementerian Energi dan
Gigih Udi Atmo Sumber Daya Mineral Indonesia (2022-2024).
• Inspektur Ketenagalistrikan Ahli Madya - Direktorat
Komisaris Utama Ketenagalistrikan, Kementerian Energi dan Sumber Daya
President Commissioner Mineral Indonesia (2020-2022).
• Visiting Researcher/Energy Economist, Asia Pacific Energy
Research Centre Jepang (2017-2020).
• Director of Geothermal Energy, Ministry of Energy and Mineral
Resources (2024-Present).
• Director of Energy Conservation - Directorate General of New,
Renewable Energy and Energy Conservation, Ministry of
Energy and Mineral Resources of Indonesia (2022-2024).
• Associate Expert Electricity Inspector - Directorate of Electricity,
Ministry of Energy and Mineral Resources of Indonesia (2020-
2022).
• Visiting Researcher/Energy Economist, Asia Pacific Energy
Research Centre, Japan (2017-2020).
PT Pertamina Geothermal Energy Tbk
Page 103
Laporan Tahunan 2025 | 2025 Annual Report 101
Pelatihan di 2025 Informasi pelatihan terdapat pada sub bab Pelatihan dan
Training in 2025 Pengembangan Kompetensi Dewan Komisaris dan Direksi.
Information on training can be found in the sub-chapter of
Training and Competency Development for the Board of
Commissioners and the Board of Directors.
Rangkap Jabatan • Ketua Komite Investasi dan Manajemen Risiko di PT Pertamina
Concurrent Positions Geothermal Energy Tbk (2024-sekarang).
• Direktur Panas Bumi di Direktorat Jenderal Energi Baru
Terbarukan dan Konservasi Energi (2024-sekarang).
• Chairman of the Investment and Risk Management Committee
at PT Pertamina Geothermal Energy Tbk (2024-present).
• Director of Geothermal Energy at the Directorate General
of New, Renewable Energy and Energy Conservation
(2024-present).
Hubungan Afiliasi Memiliki hubungan afiliasi dengan pemegang saham pengendali
Affiliated Relationship dan utama, sebagai pejabat struktural di Kementerian Energi dan
Sumber Daya Mineral (Pemerintah Indonesia).
Does have an affiliated relationship with controlling and ultimate
shareholders, as a structural official at the Ministry of Energy and
Mineral Resources (Indonesian Government).
Pernyataan Independensi Komisaris telah menandatangani dokumen pernyataan
Independence Statement Independensi Dewan Komisaris pada tanggal 2 September 2025.
The Commissioner has signed the Board of Commissioners’
Independence Statement document on 2 September 2025.
PT Pertamina Geothermal Energy Tbk
Page 104
102 Laporan Tahunan 2025 | 2025 Annual Report
Profil Dewan Komisaris
Board of Commissioners Profile
Usia | Age 59 tahun | 59 years old
Kewarganegaraan Indonesia | Indonesian
Citizenship
Tempat & Tanggal Lahir Jakarta, 9 November 1966
Place & Date of Birth
Domisili | Domicile Jakarta
Dasar Hukum Pengangkatan Keputusan RUPS Tahunan 2024 tanggal 28 Mei 2024 yang
Legal Basis of Appointment dinyatakan dalam Akta Notaris No. 19 tanggal 10 Juni 2024.
The decision of the AGM 2024 on 28 May 2024, as stated
in Notarial Deed No. 19 dated 10 June 2024.
Periode Menjabat 29 Mei 2024 - 27 Mei 2027
Term of Office
29 May 2024 - 27 May 2027
Latar Belakang Pendidikan Sarjana Teknik Elektro, Institut Teknologi Bandung (1991).
Educational Background
Bachelor of Electrical Engineering, Bandung Institute of Technology
(1991).
Riwayat Jabatan • Direktur Utama, PT Pertamina Hulu Indonesia (2023-2024).
Work Experience • Direktur Utama, PT Pertamina Internasional EP (2020-2023).
• President Director, PT Pertamina Hulu Indonesia (2023-2024).
• President Director, PT Pertamina Internasional EP (2020-2023).
Pelatihan di 2025 Informasi pelatihan terdapat pada sub bab Pelatihan dan
Training in 2025 Pengembangan Kompetensi Dewan Komisaris dan Direksi.
Information on training can be found in the sub-chapter of Training
and Competency Development for the Board of Commissioners
and the Board of Directors.
Rangkap Jabatan Direktur Utama di PT Pertamina Power Indonesia (2024-sekarang).
Concurrent Positions
President Director at PT Pertamina Power Indonesia
(2024-present).
Hubungan Afiliasi Memiliki hubungan afiliasi dengan pemegang saham pengendali
Affiliated Relationship dan utama, sebagai Direktur Utama PT Pertamina Power
Indonesia.
Does have an affiliated relationship with the controlling and
John Anis ultimate shareholders, as President Director of PT Pertamina Power
Komisaris Indonesia.
Commissioner
Pernyataan Independensi Komisaris telah menandatangani dokumen pernyataan
Independence Statement independensi Dewan Komisaris pada tanggal 4 Februari 2025.
The Commissioner has signed the Board of Commissioners’
Independence Statement document on 2 September 2025.
PT Pertamina Geothermal Energy Tbk
Page 105
Laporan Tahunan 2025 | 2025 Annual Report 103
Usia | Age 36 tahun | 36 years old
Kewarganegaraan Emirati | Emirati
Citizenship
Tempat & Tanggal Lahir Abu Dhabi, 22 Januari 1989
Place & Date of Birth
Abu Dhabi, 22 January 1989
Domisili | Domicile Abu Dhabi
Dasar Hukum Pengangkatan • Keputusan RUPS Tahunan 2024 tanggal 28 Mei 2024 yang
Legal Basis of Appointment dinyatakan dalam Akta Notaris No. 19 tanggal 10 Juni 2024.
• Keputusan RUPSLB tanggal 20 Agustus 2025 yang dinyatakan
dalam Akta Notaris No. 33 tanggal 28 Agustus 2025.
• The decision of the AGM 2024 on 28 May 2024, as stated
in Notarial Deed No. 19 dated 10 June 2024.
• Resolution of the EGMS dated 20 August 2025, as stated
in Notarial Deed No. 33 dated 28 August 2025.
Periode Menjabat 28 Mei 2024 - 27 Mei 2027
Term of Office
28 May 2024 - 27 May 2027
Latar Belakang Pendidikan • Bachelor of Engineering/Industrial Management, UAE Higher
Educational Background Colleges of Technology (2012).
• Diploma in Mechanical Engineering, UAE Higher Colleges of
Technology (2009).
Riwayat Jabatan • Government Budget Section Head, Abu Dhabi General
Work Experience Secretariat of the Executive Council (2012-2016).
• Renewable Energy Financial and Commercial Analyst, Masdar
(2009-2011).
Pelatihan di 2025 Informasi pelatihan terdapat pada sub bab Pelatihan dan
Training in 2025 Pengembangan Kompetensi Dewan Komisaris dan Direksi.
Information on training can be found in the sub-chapter of Training
and Competency Development for the Board of Commissioners
and the Board of Directors.
Rangkap Jabatan • Ketua Komite Audit, PT Pertamina Geothermal Energy Tbk
Concurrent Positions (2024-sekarang).
• Director, Development & Investment (Asia and Africa), Masdar
(2022-sekarang).
• Chief Executive Officer – MW Energy (2022-sekarang).
Abdulla Zayed • Chairman of the Audit Committee, PT Pertamina Geothermal
Komisaris
Energy Tbk (2024-present).
Commissioner
• Director, Development & Investment (Asia and Africa), Masdar
(2022-present).
• Chief Executive Officer – MW Energy (2022-present).
Hubungan Afiliasi Tidak memiliki hubungan afiliasi baik dengan anggota Direksi,
Affiliated Relationship anggota Dewan Komisaris lainnya, maupun dengan pemegang
saham pengendali dan utama.
Does not have any affiliated relationship with either members
of the Board of Directors, other members of the Board of
Commissioners, or with controlling and ultimate shareholders.
Pernyataan Independensi Komisaris telah menandatangani dokumen pernyataan
Independence Statement independensi pada tanggal 2 September 2025.
The Commissioner has signed the independence statement
document on 2 September 2025.
PT Pertamina Geothermal Energy Tbk
Page 106
104 Laporan Tahunan 2025 | 2025 Annual Report
Profil Dewan Komisaris
Board of Commissioners Profile
Usia | Age 33 tahun | 33 years old
Kewarganegaraan Indonesia | Indonesian
Citizenship
Tempat & Tanggal Lahir Ujung Pandang, 20 Maret 1992
Place & Date of Birth
Ujung Pandang, 20 March 1992
Domisili | Domicile Malang
Dasar Hukum Pengangkatan Keputusan RUPSLB tahun 2024 tanggal 31 Juli 2024 yang
Legal Basis of Appointment dinyatakan dalam Akta Notaris No. 8 Tanggal 6 Agustus 2024.
Resolution of the EGMS of 2024 dated 31 July 2024, as stated
in Notarial Deed No. 8 dated 6 August 2024.
Periode Menjabat 31 Juli 2024- 30 Juli 2027
Term of Office
31 July 2024- 30 July 2027
Latar Belakang Pendidikan • Magister Ilmu Agama Islam, Universitas Muhammadiyah
Educational Background Malang (2017).
• Sarjana Hukum Islam, Universitas Muhammadiyah Malang
(2015).
• Master of Islamic Studies, University of Muhammadiyah Malang
(2017).
• Bachelor of Islamic Law, University of Muhammadiyah Malang
(2015).
Riwayat Jabatan Direktur Mahakarya Indonesia Properti (2017-2019).
Work Experience
Director of Mahakarya Indonesia Properti (2017-2019).
Pelatihan di 2025 Informasi pelatihan terdapat pada sub bab Pelatihan dan
Training in 2025 Pengembangan Kompetensi Dewan Komisaris dan Direksi.
Information on training can be found in the sub-chapter of Training
and Competency Development for the Board of Commissioners
and the Board of Directors.
Rangkap Jabatan • Ketua Komite Nominasi dan Remunerasi - PT Pertamina
Concurrent Positions Geothermal Energy Tbk.
• Koordinator Departemen Keanggotaan - Pengurus Besar IKAMI
Sulawesi Selatan (2020-sekarang).
• Wakil Sekretaris Jenderal - Dewan Pimpinan Pusat Komite
Abdul Musawir Nasional Pimpinan Indonesia (2019-sekarang).
Yahya • Chairman of the Nomination and Remuneration Committee -
Komisaris Independen PT Pertamina Geothermal Energy Tbk.
Independent Commissioner • Coordinator of the Membership Department - IKAMI South
Sulawesi Executive Board (2020-present).
• Deputy Secretary General - Central Leadership Council of the
Indonesian Leadership National Committee (2019-present).
Hubungan Afiliasi Tidak memiliki hubungan afiliasi baik dengan anggota Direksi,
Affiliated Relationship anggota Dewan Komisaris lainnya, maupun dengan pemegang
saham pengendali dan utama.
Does not have any affiliated relationship with either members
of the Board of Directors, other members of the Board of
Commissioners, or with controlling and ultimate shareholders.
Pernyataan Independensi Komisaris Independen telah menandatangani dokumen
Independence Statement pernyataan independensi pada tanggal 22 Januari 2025.
The Independent Commissioner has signed the independence
statement document on 22 January 2025.
PT Pertamina Geothermal Energy Tbk
Page 107
Laporan Tahunan 2025 | 2025 Annual Report 105
Usia | Age 51 tahun | 51 years old
Kewarganegaraan Indonesia | Indonesian
Citizenship
Tempat & Tanggal Lahir Palembang, 9 Juli 1974
Place & Date of Birth
Palembang, 9 July 1974
Domisili | Domicile Kab. Bogor
Dasar Hukum Pengangkatan Keputusan RUPSLB tahun 2025 tanggal 20 Agustus 2025 yang
Legal Basis of Appointment dinyatakan dalam Akta Notaris No. 33 Tanggal 28 Agustus
2025.
Resolution of the 2025 EGMS dated 20 August 2025, as stated
in Notarial Deed No. 33 dated 28 August 2025.
Periode Menjabat 20 Agustus 2025-19 Agutus 2028
Term of Office
20 August 2025-19 August 2028
Latar Belakang Pendidikan Sarjana Teknik Sipil, Universitas Sriwijaya Palembang
Educational Background (1994-1999).
Bachelor of Civil Engineering, Sriwijaya University Palembang
(1994-1999).
Riwayat Jabatan System Analyst - PT Fujitsu Indonesia (2023-2025)
Work Experience
Pelatihan di 2025 Informasi pelatihan terdapat pada sub bab Pelatihan dan
Training in 2025 Pengembangan Kompetensi Dewan Komisaris dan Direksi.
Information on training can be found in the sub-chapter of Training
and Competency Development for the Board of Commissioners
and the Board of Directors.
Rangkap Jabatan Ketua Komite Audit - PT Pertamina Geothermal Energy Tbk.
Concurrent Positions
Chairman of the Audit Committee - PT Pertamina Geothermal
Energy Tbk.
Hubungan Afiliasi Tidak memiliki hubungan afiliasi baik dengan anggota Direksi,
Affiliated Relationship anggota Dewan Komisaris lainnya, maupun dengan pemegang
saham pengendali dan utama.
Does not have any affiliated relationship with either members
of the Board of Directors, other members of the Board of
Commissioners, or with controlling and ultimate shareholders.
Pernyataan Independensi Telah menandatangani dokumen pernyataan independensi Dewan
Independence Statement Komisaris pada tanggal 17 September 2025.
Mohammad The Independent Commissioner has signed the independence
statement document on 17 September 2025.
Firmansyah
Komisaris Independen
Independent Commissioner
Pernyataan Independensi Komisaris Statement of Independence of
Independen Independent Commissioner
Komisaris independen yang telah menjabat selama dua periode Independent commissioners who have served two terms may be
masa jabatan dapat diangkat kembali pada periode selanjutnya reappointed for a subsequent term as long as they declare their
sepanjang Komisaris Independen tersebut menyatakan dirinya independence to the General Meeting of Shareholders (GMS).
tetap independen kepada Rapat Umum Pemegang Saham
(RUPS).
Pada periode pelaporan, Abdul Musawir Yahya menandatangani During the reporting period, Abdul Musawir Yahya signed his
pernyataan independensi pada 22 Januari 2025. Sementara statement of independence on 22 January 2025. Meanwhile,
Mohammad Firmansyah menandatangani pernyataan Mohammad Firmansyah signed his statement of independence
independensi pada 17 September 2025. on 17 September 2025.
PT Pertamina Geothermal Energy Tbk
Page 108
106 Laporan Tahunan 2025 | 2025 Annual Report
Profil Direksi
Board of Directors Profile
Usia | Age 48 tahun | 48 years old
Kewarganegaraan Indonesia | Indonesian
Citizenship
Tempat & Tanggal Lahir Dumai, 30 September 1977
Place & Date of Birth
Domisili | Domicile Tangerang Selatan | South Tangerang
Dasar Hukum Pengangkatan Keputusan RUPSLB tahun 2026 tanggal 20 Januari 2026 yang
Legal Basis of Appointment dinyatakan dalam Akta Notaris No. 29 Tanggal 18 Februari
2026.
Resolution of the EGMS of 2026 dated 20 January 2026, as
stated in Notarial Deed No. 29 dated 18 February 2026.
Periode Menjabat 20 Januari 2026-19 Januari 2029.
Term of Office
20 January 2026-19 January 2029.
Latar Belakang Pendidikan • Master Ilmu Fisika (Geothermal Exploration), Universitas
Educational Background Indonesia (2020-2023).
• Sarjana Teknik Perminyakan, Universitas Islam Riau (1996-
2003).
• Master of Physics (Geothermal Exploration), University of
Indonesia (2020-2023).
• Bachelor of Petroleum Engineering, Islamic University of Riau
(1996-2003).
Riwayat Jabatan • Direktur Operasi, PT Pertamina Geothermal Energy Tbk
Work Experience (2023-2026).
• General Manager Area Lahendong, PT Pertamina Geothermal
Energy (2021-2023)
• Manager Drilling Planning & Support, PT Pertamina
Geothermal Energy (2019-2021)
• Manager Operation Area Lahendong, PT Pertamina
Geothermal Energy (2015-2019)
• Manager Reservoir & Enjineering, PT Pertamina Geothermal
Energy (2013-2015)
• Asisten manager Engineering Reservoir Area Kamojang,
PT Pertamina Geothermal Energy (2010-2013)
• Director of Operations, PT Pertamina Geothermal Energy Tbk
(2023-2026)
Ahmad Yani*) • General Manager of the Lahendong Area, PT Pertamina
Geothermal Energy (2021-2023)
Direktur Utama
• Manager of Drilling Planning & Support, PT Pertamina
President Director
Geothermal Energy (2019-2021)
• Manager of Operations of the Lahendong Area, PT Pertamina
Geothermal Energy (2015-2019)
• Manager of Reservoir & Engineering, PT Pertamina Geothermal
Energy (2013-2015)
• Assistant Manager of Engineering of the Kamojang Reservoir
Area, PT Pertamina Geothermal Energy (2010-2013)
PT Pertamina Geothermal Energy Tbk
Page 109
Laporan Tahunan 2025 | 2025 Annual Report 107
Pelatihan di 2025 Informasi pelatihan terdapat pada sub bab Pelatihan dan
Training in 2025 Pengembangan Kompetensi Dewan Komisaris dan Direksi.
Information on training can be found in the sub-chapter of
Training and Competency Development for the Board of
Commissioners and the Board of Directors.
Rangkap Jabatan Anggota Komite Manajemen Risiko, PT Pertamina Geothermal
Concurrent Positions Energy Tbk.
Member of the Risk Management Committee, PT Pertamina
Geothermal Energy Tbk.
Hubungan Afiliasi Tidak memiliki hubungan afiliasi baik dengan anggota Direksi,
Affiliated Relationship anggota Dewan Komisaris lainnya, maupun dengan pemegang
saham pengendali dan utama.
Does not have any affiliated relationship with either members
of the Board of Directors, other members of the Board of
Commissioners, or with controlling and ultimate shareholders.
*) Menjabat sejak 20 Januari 2026 | Serving since 20 January 2026
PT Pertamina Geothermal Energy Tbk
Page 110
108 Laporan Tahunan 2025 | 2025 Annual Report
Profil Direksi
Board of Directors Profile
Usia | Age 59 tahun | 59 years old
Kewarganegaraan Indonesia | Indonesian
Citizenship
Tempat & Tanggal Lahir Swedia, 21 Juli 1966
Place & Date of Birth
Sweden, 21 July 1966
Domisili | Domicile Jakarta
Dasar Hukum Pengangkatan Diangkat menjadi Direktur Utama Perseroan untuk pertama
Legal Basis of Appointment kalinya berdasarkan Keputusan RUPST tanggal 5 Juni 2023 yang
dinyatakan dalam Akta Notaris No. 11 tanggal 8 Juni 2023.
Appointed as President Director of the Company for the first time
based on the Resolution of the AGMS dated 5 June 2023, as
stated in Notarial Deed No. 11 dated 8 June 2023.
Periode Menjabat 5 Juni 2023-20 Januari 2026
Term of Office
5 June 2023-20 January 2026
Latar Belakang Pendidikan • Medco Senior Leadership Development Program, Harvard
Educational Background Business Corporate Learning (2021-2022).
• Diploma In Geothermal Technology, University of Auckland NS
(Master Level) (Best Earth Science Award) (1997-1998).
• Master of Science of Geology, University of Texas, El Paso USA
(1989-1991).
• Bachelor of Science in Geology, University of Texas, El Paso,
USA (1984-1988).
Riwayat Jabatan • Chairman, Indonesia Geothermal Association (2023-sekarang).
Work Experience • SVP Geothermal Assets, PT Medco Power Indonesia
(2019-2023).
• Direktur Utama, PT Medco Cahaya Geothermal (2019-2023).
• Direktur, PT Sarula Operation Ltd. (2019-2023).
• Direktur Pelaksana, PT Hitay Energy Holdings (2015-2023).
• Wakil Presiden Eksplorasi dan Bawah Permukaan, PT Supreme
Energy Corporation (2008-2015).
• Senior Manager Teknik Bawah Permukaan, Star Energy
(Magma Nusantara Ltd) (2006-2007).
• Chairman, Indonesia Geothermal Association (2023-present).
• Senior Vice President of Geothermal Assets, PT Medco Power
Indonesia (2019-2023).
• President Director, PT Medco Cahaya Geothermal
(2019-2023).
• Director, PT Sarula Operation Ltd. (2019-2023).
• Managing Director, PT Hitay Energy Holdings (2015-2023).
• Vice President of Exploration and Subsurface, PT Supreme
Julfi Hadi*) Energy Corporation (2008-2015).
Direktur Utama • Senior Manager of Subsurface Engineering, Star Energy
President Director (Magma Nusantara Ltd) (2006-2007).
Pelatihan di 2025 Informasi pelatihan terdapat pada sub bab Pelatihan dan
Training in 2025 Pengembangan Kompetensi Dewan Komisaris dan Direksi.
Information on training can be found in the sub-chapter of Training
and Competency Development for the Board of Commissioners
and the Board of Directors.
Rangkap Jabatan • Ketua Komite Manajemen Risiko, PT Pertamina Geothermal
Concurrent Positions Energy Tbk (2023-2026).
• Ketua Umum, Asosiasi Panas Bumi Indonesia (2023-2026).
• Chairman of the Risk Management Committee, PT Pertamina
Geothermal Energy Tbk (2023-2026).
• Chairman of the Indonesian Geothermal Association
(2023-2026).
Hubungan Afiliasi Tidak memiliki hubungan afiliasi baik dengan anggota Direksi,
Affiliated Relationship anggota Dewan Komisaris lainnya, maupun dengan pemegang
saham pengendali dan utama.
Does not have any affiliated relationship with either members
of the Board of Directors, other members of the Board of
Commissioners, or with controlling and ultimate shareholders.
*) Menjabat hingga tanggal 20 Januari 2026 | Serving until 20 January 2026
PT Pertamina Geothermal Energy Tbk
Page 111
Laporan Tahunan 2025 | 2025 Annual Report 109
Usia | Age 50 tahun | 50 years old
Kewarganegaraan Indonesia | Indonesian
Citizenship
Tempat & Tanggal Lahir Tanjung Medan, 9 Maret 1975
Place & Date of Birth
Tanjung Medan, 9 Mach 1975
Domisili | Domicile Bogor, Jawa Barat
Bogor, West Java
Dasar Hukum Pengangkatan Diangkat menjadi Direktur Eksplorasi & Pengembangan Perseroan
Legal Basis of Appointment untuk pertama kalinya berdasarkan Keputusan RUPST tanggal 28
Mei 2024 yang dinyatakan dalam Akta Notaris No. 19 tanggal
10 Juni 2024.
Appointed as Director of Exploration & Development of the
Company for the first time based on the Resolution of the AGMS
dated 28 May 2024, as stated in Notarial Deed No. 19 dated
10 June 2024.
Periode Menjabat 28 Mei 2024 - 27 Mei 2027
Term of Office
28 May 2024 - 27 May 2027
Latar Belakang Pendidikan • Magister Teknik Perminyakan, Institut Teknologi Bandung
Educational Background (1999-2001).
• Sarjana Teknik Perminyakan, Universitas Trisakti (1993-1998).
• Master of Petroleum Engineering, Bandung Institute of
Technology (1999-2001).
• Bachelor of Petroleum Engineering, Trisakti University (1993-
1998).
Riwayat Jabatan • EVP Upstream Business, PHR WK Rokan (2023-2024).
Work Experience • VP Production & Project, Pertamina Sub Holding Upstream
(2022-2023).
• Direktur Operasi, Pertamina Algeria EP (2021-2022).
• Country Manager Algeria, Pertamina International EP
(2019-2021).
• Country Manager Irak, Pertamina International EP
(2015-2018).
• EVP Upstream Business, PHR WK Rokan (2023-2024).
• VP Production & Project, Pertamina Sub Holding Upstream
(2022-2023).
Edwil Suzandi • Director of Operations, Pertamina Algeria EP (2021-2022).
Direktur Eksplorasi & Pengembangan • Country Manager Algeria, Pertamina International EP (2019-
Director of Exploration & Development 2021).
• Country Manager Iraq, Pertamina International EP (2015-
2018).
Pelatihan di 2025 Informasi pelatihan terdapat pada sub bab Pelatihan dan
Training in 2025 Pengembangan Kompetensi Dewan Komisaris dan Direksi.
Information on training can be found in the sub-chapter of Training
and Competency Development for the Board of Commissioners
and the Board of Directors.
Rangkap Jabatan Anggota Komite Manajemen Risiko, PT Pertamina Geothermal
Concurrent Positions Energy Tbk (2023-sekarang).
Member of the Risk Management Committee, PT Pertamina
Geothermal Energy Tbk (2023-present).
Hubungan Afiliasi Tidak memiliki hubungan afiliasi baik dengan anggota Direksi,
Affiliated Relationship anggota Dewan Komisaris lainnya, maupun dengan pemegang
saham pengendali dan utama.
Does not have any affiliated relationship with either members
of the Board of Directors, other members of the Board of
Commissioners, or with controlling and ultimate shareholders.
PT Pertamina Geothermal Energy Tbk
Page 112
110 Laporan Tahunan 2025 | 2025 Annual Report
Profil Direksi
Board of Directors Profile
Usia | Age 43 tahun | 43 years old
Kewarganegaraan Indonesia | Indonesian
Citizenship
Tempat & Tanggal Lahir Jakarta, 9 Maret 1982
Place & Date of Birth
Jakarta, 9 March 1982
Domisili | Domicile Tangerang Selatan
South Tangerang
Dasar Hukum Pengangkatan Diangkat menjadi Direktur Keuangan Perseroan untuk pertama
Legal Basis of Appointment kalinya berdasarkan Keputusan RUPSLB tanggal 19 Februari
2024 yang dinyatakan dalam Akta Notaris No. 12 tanggal
19 Februari 2024.
Appointed as the Director of finance of the Company’s for the first
time based on the Resolution of the EGMS dated 19 February
2024, as stated in Notarial Deed No. 12 dated 19 February
2024.
Periode Menjabat 12 Februari 2024 - 11 Februari 2027
Term of Office
12 February 2024 - 11 February 2027
Latar Belakang Pendidikan • Magister Ekonomi, Prasetya Mulya Business School
Educational Background (2009-2011).
• Sarjana Ekonomi, University of Texas, USA (2003-2007).
• Master of Economics, Prasetya Mulya Business School
(2009-2011).
• Bachelor of Economics, University of Texas, USA (2003-2007).
Riwayat Jabatan • Director, Head of Investment Banking Advisory/M&A, PT BNI
Work Experience Sekuritas (2021-2024).
• Vice President, Head of Corporate Finance and Investments,
Onstar Express Pte. Ltd.(2020-2021).
• Group Head of Corporate Planning, Investor Relations, and
Enterprise Risk Management, PT Mitrabahtera Segara Sejati Tbk
(MBSS) (2019).
• Assistant Vice President, Investment Deal Team Lead, IPC
Investment Company (2018-2019).
• Investment Banking Senior Associate, Advisory & Capital
Market, PT Mandiri Sekuritas (2017-2018).
Yurizki Rio Pelatihan di 2025 Informasi pelatihan terdapat pada sub bab Pelatihan dan
Direktur Keuangan Training in 2025 Pengembangan Kompetensi Dewan Komisaris dan Direksi.
Director of Finance
Information on training can be found in the sub-chapter of Training
and Competency Development for the Board of Commissioners
and the Board of Directors.
Rangkap Jabatan • Wakil Ketua Komite Manajemen Risiko, PT Pertamina
Concurrent Positions Geothermal Energy Tbk (2024-sekarang).
• Koordinator Penerapan dan Pemantauan GCG, PT Pertamina
Geothermal Energy Tbk (2024-sekarang).
• Deputy Chairman of the Risk Management Committee,
PT Pertamina Geothermal Energy Tbk (2024-present).
• Coordinator of GCG Implementation and Monitoring,
PT Pertamina Geothermal Energy Tbk (2024-present).
Hubungan Afiliasi Tidak memiliki hubungan afiliasi baik dengan anggota Direksi,
Affiliated Relationship anggota Dewan Komisaris lainnya, maupun dengan pemegang
saham pengendali dan utama.
Does not have any affiliated relationship with either members
of the Board of Directors, other members of the Board of
Commissioners, or with controlling and ultimate shareholders.
PT Pertamina Geothermal Energy Tbk
Page 113
Laporan Tahunan 2025 | 2025 Annual Report 111
Usia | Age 48 tahun | 48 years old
Kewarganegaraan Indonesia | Indonesian
Citizenship
Tempat & Tanggal Lahir Pacitan, 30 April 1977
Place & Date of Birth
Domisili | Domicile Jakarta
Dasar Hukum Pengangkatan Keputusan RUPSLB tahun 2026 tanggal 20 Januari 2026 yang
Legal Basis of Appointment dinyatakan dalam Akta Notaris No. 29 Tanggal 18 Februari
2026.
Resolution of the EGMS of 2026 dated 20 January 2026, as
stated in Notarial Deed No. 29 dated 18 February 2026.
Periode Menjabat 20 Januari 2026 - 19 Januari 2029.
Term of Office
20 January 2026 - 19 January 2029.
Latar Belakang Pendidikan • Master of Mechanical Engineering, University of Iceland
Educational Background (2011).
• Sarjana Teknik Mesin, Institut Teknologi Sepuluh Nopember
(2001).
• Master of Mechanical Engineering, University of Iceland
(2011).
• Bachelor of Mechanical Engineering, Sepuluh Nopember
Institute of Technology (2001).
Riwayat Jabatan • Vice President Operation & Engineering, PT Pertamina
Work Experience Geothermal Energy Tbk (2023-2026).
• General Manager Area Ulubelu, PT Pertamina Geothermal
Energy Tbk (2021-2023).
• Area Manager Area Karaha, PT Pertamina Geothermal Energy
(2020-2021).
• Maintenance Manager Area Kamojang, PT Pertamina
Geothermal Energy (2018-2020).
• Vice President of Operations & Engineering, PT Pertamina
Geothermal Energy Tbk (2023-2026).
• General Manager of the Ulubelu Area, PT Pertamina
Geothermal Energy Tbk (2021-2023).
• Area Manager of the Karaha Area, PT Pertamina Geothermal
Energy (2020-2021).
Andi Joko • Maintenance Manager of the Kamojang Area, PT Pertamina
Geothermal Energy (2018-2020).
Nugroho Pelatihan di 2025 Informasi pelatihan terdapat pada sub bab Pelatihan dan
Direktur Operasi Training in 2025 Pengembangan Kompetensi Dewan Komisaris dan Direksi.
Director of Operation
Information on training can be found in the sub-chapter of Training
and Competency Development for the Board of Commissioners
and the Board of Directors.
Rangkap Jabatan Anggota Komite Manajemen Risiko, PT Pertamina Geothermal
Concurrent Positions Energy Tbk (2026-sekarang).
Member of the Risk Management Committee, PT Pertamina
Geothermal Energy Tbk (2026-present)
Hubungan Afiliasi Tidak memiliki hubungan afiliasi baik dengan anggota Direksi,
Affiliated Relationship anggota Dewan Komisaris lainnya, maupun dengan pemegang
saham pengendali dan utama.
Does not have any affiliated relationship with either members
of the Board of Directors, other members of the Board of
Commissioners, or with controlling and ultimate shareholders.
PT Pertamina Geothermal Energy Tbk
Page 114
112 Laporan Tahunan 2025 | 2025 Annual Report
Pelatihan dan Pengembangan
Kompetensi Dewan Komisaris
dan Direksi
Training and Competency Development of The Board of Commissioners and
The Board of Directors
Pendidikan dan/atau Pelatihan Dewan Komisaris
Education and/or Training of the Board of Commissioners
Nama Acara/Tema Tanggal Lokasi Penyelenggara
Name Event/Theme Date Location Organizer
Gigih Udi Atmo Professional Training Program for Certified 7 Februari 2025 Online RWI Consulting-
(Komisaris Utama) Risk Professional (CRP) PT Jagad Prima Mandiri
7 February 2025
(President Commissioner) Indonesia International Geothermal 17 September 2025 Jakarta Kementerian ESDM, Asosiasi
Convention & Exhibition (IIGCE) 2025 Convention Panas Bumi Indonesia
Center
Ministry of EMR, Indonesian
Geothermal Association
Sinergi Pengawasan dan Evaluasi Laporan 24 November 2025 Online PT Transformasi Inovasi
Keuangan PGE, Benchmarking Industri Manajemen & Universitas
Geothermal dengan Perusahaan Sejenis di Pajadjaran
Indonesia dan Global (Filipina)
PT Transformasi Inovasi
Synergy of Supervision and Evaluation of Manajemen & Pajadjaran
PGE Financial Statements, Benchmarking the University
Geothermal Industry with Similar Companies
in Indonesia and Globally (Philippines)
Wawasan Kebangsaan dan Bela Negara 29 November 2025 Yogyakarta PT Pertamina (Persero)
National Consciousness and Patriotism
Dinamika Pergantian Pengurus dari Aspek 1 Desember 2025 Online PT Transformasi Inovasi
Hukum, Transparansi, dan Keberlangsungan Manajemen
Bisnis PT PGE Tbk
Dynamics of Management Changes from 1 December 2025
the Legal, Transparency, and Business
Sustainability Aspects of PT PGE Tbk
John Anis Abu Dhabi Sustainability Week (ADSW) 14-16 Januari 2025 Abu Dhabi Masdar
(Komisaris) 2025
14-16 January 2025
(Commissioner) Sinergi Pengawasan dan Evaluasi Laporan 24 November 2025 Online PT Transformasi
Keuangan PGE, Benchmarking Industri Inovasi Manajemen &
Geothermal dengan Perusahaan Sejenis di Universitas Pajadjaran
Indonesia dan Global (Filipina)
Synergy of Supervision and Evaluation of PT Transformasi
PGE Financial Statements, Benchmarking the Inovasi Manajemen &
Geothermal Industry with Similar Companies Pajadjaran University
in Indonesia and Globally (Philippines)
Indonesia International Geothermal 17 September 2025 Jakarta Kementerian ESDM, Asosiasi
Convention & Exhibition (IIGCE) 2025 Convention Panas Bumi Indonesia
Center
Ministry of EMR, Indonesian
Geothermal Association
Wawasan Kebangsaan dan Bela Negara 29 November 2025 Yogyakarta PT Pertamina (Persero)
National Consciousness and Patriotism
PT Pertamina Geothermal Energy Tbk
Page 115
Laporan Tahunan 2025 | 2025 Annual Report 113
Nama Acara/Tema Tanggal Lokasi Penyelenggara
Name Event/Theme Date Location Organizer
Dinamika Pergantian Pengurus dari Aspek 1 Desember 2025 Online PT Transformasi Inovasi
Hukum, Transparansi, dan Keberlangsungan Manajemen
Bisnis PT PGE Tbk 1 December 2025
Dynamics of Management Changes from
the Legal, Transparency, and Business
Sustainability Aspects of PT PGE Tbk
Abdulla Zayed Abu Dhabi Sustainability Week (ADSW) 14-16 Januari 2025 Abu Dhabi Masdar
(Komisaris) 2025
14-16 January 2025
(Commissioner) Comprehensive Professional Training Program 17 Oktober 2025 Online RWI Consulting-
for Certified Risk Professional (CRP®) PT Jagad Prima Mandiri
17 October 2025
Abdul Musawir Yahya Abu Dhabi Sustainability Week (ADSW) 14-16 Januari 2025 Abu Dhabi Masdar
(Komisaris Independen) 2025
14-16 January 2025
(Independent Commissioner)
Professional Training Program for Certified 31 Januari 2025 Online RWI Consulting-
Risk Professional (CRP) PT Jagad Prima Mandiri
31 January 2025
Indonesia International Geothermal 17 September 2025 Jakarta Kementerian ESDM, Asosiasi
Convention & Exhibition (IIGCE) 2025 Convention Panas Bumi Indonesia
Center
Ministry of EMR, Indonesian
Geothermal Association
Risk Management Forum 20 Oktober 2025 Grha Pertamina Pertamina NRE
20 October 2025
Sinergi Pengawasan dan Evaluasi Laporan 24 November 2025 Online PT Transformasi Inovasi
Keuangan PGE, Benchmarking Industri Manajemen & Universitas
Geothermal dengan Perusahaan Sejenis di Pajadjaran
Indonesia dan Global (Filipina)
PT Transformasi Inovasi
Synergy of Supervision and Evaluation of Manajemen & Pajadjaran
PGE Financial Statements, Benchmarking the University
Geothermal Industry with Similar Companies
in Indonesia and Globally (Philippines)
Wawasan Kebangsaan dan Bela Negara 29 November 2025 Yogyakarta PT Pertamina (Persero)
National Consciousness and Patriotism
Dinamika Pergantian Pengurus dari Aspek 1 Desember 2025 Online PT Transformasi Inovasi
Hukum, Transparansi, dan Keberlangsungan Manajemen
Bisnis PT PGE Tbk
Dynamics of Management Changes from 1 December 2025
the Legal, Transparency, and Business
Sustainability Aspects of PT PGE Tbk
Mohammad Firmansyah Indonesia International Geothermal 17 September 2025 Jakarta Kementerian ESDM, Asosiasi
(Komisaris Independen) Convention & Exhibition (IIGCE) 2025 Convention Panas Bumi Indonesia
Center
(Independent Commissioner) Professional Training Program for Certified 17 Oktober 2025 Online RWI Consulting-
Risk Professional (CRP) PT Jagad Prima Mandiri
17 October 2025
Risk Management Forum 20 Oktober 2025 Grha Pertamina Pertamina NRE
20 October 2025
Sinergi Pengawasan dan Evaluasi Laporan 24 November 2025 Online PT Transformasi Inovasi
Keuangan PGE, Benchmarking Industri Manajemen & Universitas
Geothermal dengan Perusahaan Sejenis di Pajadjaran
Indonesia dan Global (Filipina)
PT Transformasi Inovasi
Synergy of Supervision and Evaluation of Manajemen & Pajadjaran
PGE Financial Statements, Benchmarking the University
Geothermal Industry with Similar Companies
in Indonesia and Globally (Philippines)
Wawasan Kebangsaan dan Bela Negara 29 November 2025 Yogyakarta PT Pertamina (Persero)
National Consciousness and Patriotism
PT Pertamina Geothermal Energy Tbk
Page 116
114 Laporan Tahunan 2025 | 2025 Annual Report
Nama Acara/Tema Tanggal Lokasi Penyelenggara
Name Event/Theme Date Location Organizer
Dinamika Pergantian Pengurus dari Aspek 1 Desember 2025 Online PT Transformasi Inovasi
Hukum, Transparansi, dan Keberlangsungan Manajemen
Bisnis PT PGE Tbk 1 December 2025
Dynamics of Management Changes from
the Legal, Transparency, and Business
Sustainability Aspects of PT PGE Tbk
Pendidikan dan/atau Pelatihan Direksi
Education and/or Training of the Board of Directors
Nama Keterangan Tanggal Lokasi Penyelenggara
Name Description Date Location Organizer
Ahmad Yani Workshop Heat Exchanger 24 Januari 2025 Jakarta PGE, Elnusa, Multifab
(Direktur Operasi)*
24 January 2025
(Director of Operations)*
Training & Sertifikasi Risk 6 Februari 2025 Jakarta Lembaga Sertifikasi Profesi
Management (CRP) Pasar Modal (LSPPM)
Risk Management Training & 6 February 2025 Capital Market Professional
Certification (CRP) Certification Agency (LSPPM)
Building Inclusive Workplaces 17 Februari 2025 Jakarta PGE
17 February 2025
Certified Risk Professional (CRP) 18 Februari 2025 Jakarta PGE
18 February 2025
Pembekalan Assessment 28 Februari 2025 Jakarta PGE
Strategic Leader Competencies
(SLC)
Briefing on Strategic Leader 28 February 2025
Competencies (SLC) Assessment
Assessment Strategic Leader 11 April 2025 Jakarta PT Pertamina (Persero)-PPM
Competencies (SLC)
Professional Qualification level 2 Juni 2025 Jakarta PGE
SLC
2 June 2025
The 10th Indonesia International 17-19 September 2025 Jakarta Indonesian Geothermal
Geothermal Convention & Association (INAGA)
Exhibition (IIGCE)
Wawasan Kebangsaan 29 November 2025 Yogyakarta PT Pertamina (Persero)
dan Bela Negara
Nationalism and National
Defense
Business Judgement Role 30 November 2025 Jakarta PGE
Julfi Hadi Workshop Heat Exchanger 24 Januari 2025 Jakarta PGE, Elnusa, Multifab
(Direktur Utama)**
24 January 2025
(President Director)**
Pelatihan Sertifikasi Risk 30 Januari 2025 Jakarta PGE-RWI Consulting
Management Level BOD
BOD Level Risk Management 30 January 2025
Certification Training
Building Inclusive Workplace 17 Februari 2025 Jakarta PGE
17 February 2025
Certified Risk Professional (CRP) 2 Juli 2025 Jakarta PGE
2 July 2025
Indonesia International 17-19 September 2025 Jakarta Indonesian Geothermal
Geothermal Convention & Association (INAGA)
Exhibition (IIGCE) 2025
PT Pertamina Geothermal Energy Tbk
Page 117
Laporan Tahunan 2025 | 2025 Annual Report 115
Nama Keterangan Tanggal Lokasi Penyelenggara
Name Description Date Location Organizer
Edwil Suzandi Workshop Heat Exchanger 24 Januari 2025 Jakarta PGE, Elnusa, Multifab
(Direktur Eksplorasi & Pengembangan)
24 January 2025
(Director of Exploration &
Training & Sertifikasi Risk 6 Februari 2025 Jakarta Lembaga Sertifikasi Profesi
Development)
Management (CRP) Pasar Modal (LSPPM)
Risk Management (CRP) Training 6 February 2025 Capital Market Professional
& Certification Certification Agency (LSPPM)
Building Inclusive Workplace 17 Februari 2025 Jakarta PGE
17 February 2025
Certified Risk Professional (CRP) 18 Februari 2025 Jakarta PGE
18 February 2025
Pembekalan Assessment 2 Mei 2025 Jakarta PT Pertamina (Persero)-PPM
Strategic Leader Competencies
(SLC)
Strategic Leader Competencies 2 May 2025
(SLC) Assessment Training
Assessment Strategic Leader 6 Mei 2025 Jakarta PT Pertamina (Persero)-PPM
Competencies (SLC)
6 May 2025
Professional Qualification level 2 Juli 2025 Jakarta PGE
SLC
2 July 2025
The 10th Indonesia International 17-19 September 2025 Jakarta Indonesian Geothermal
Geothermal Convention & Association (INAGA)
Exhibition (IIGCE)
Wawasan Kebangsaan dan 29 November 2025 Yogyakarta PT Pertamina (Persero)
Bela Negara
Nationalism and National
Defense
Business Judgement Role 30 November 2025 Jakarta PGE
Andi Joko Nugroho* Qualified Risk Management 5 Mei – 5 Agustus Jakarta PGE
(Direktur Operasi) Professional (QRMP) 2025
Training – Indonesia 17-19 September 2025 Jakarta Indonesian Geothermal
(Director of Operations)*
International Geothermal Association (INAGA)
Convention & Exhibition (IIGCE)
2025
Incident Command System 23-24 September 2025 Jakarta PT Rhuekamp Indonesia
Baseg Emergency Response
Management
Mobile Learning – Corporate Life 30 November 2025 Jakarta PT Pertamina (Persero)
Saving Rules
Mobile Learning – HSSE Culture 30 November 2025 Jakarta PT Pertamina (Persero)
Training
PT Pertamina Geothermal Energy Tbk
Page 118
116 Laporan Tahunan 2025 | 2025 Annual Report
Nama Keterangan Tanggal Lokasi Penyelenggara
Name Description Date Location Organizer
Yurizki Rio Workshop Heat Exchanger 24 Januari 2025 Jakarta PGE, Elnusa, Multifab
(Direktur Keuangan)
24 January 2025
(Director of Finance)
Training & Sertifikasi Risk 6 Februari 2025 Jakarta Lembaga Sertifikasi Profesi
Management (CRP) Pasar Modal (LSPPM)
Risk Management (CRP) Training 6 February 2025 Capital Market Professional
& Certification Certification Agency (LSPPM)
Building Inclusive Workplace 17 Februari 2025 Jakarta PGE
17 February 2025
Certified Risk Professional (CRP) 18 Februari 2025 Jakarta PGE
18 February 2025
Pembekalan Assessment 24 Juni 2025 Jakarta PT Pertamina (Persero)-PPM
Strategic Leader Competencies
(SLC)
Strategic Leader Competencies 24 June 2025
(SLC) Assessment Training
Assessment Strategic Leader 25 Juni 2025 Jakarta PT Pertamina (Persero)-PPM
Competencies (SLC)
25 June 2025
The 10th Indonesia International 17-19 September 2025 Jakarta Indonesian Geothermal
Geothermal Convention & Association (INAGA)
Exhibition (IIGCE)
Pembekalan Assessment 4 November 2025 Jakarta PGE
Strategic Leader Competencies
(SLC)
Briefing on Strategic Leader
Competencies (SLC) Assessment
Wawasan Kebangsaan dan 29 November 2025 Yogyakarta PT Pertamina (Persero)
Bela Negara
Nationalism and National
Defense
Business Judgement Role 30 November 2025 Jakarta PGE
* Mulai menjabat sejak tanggal 20 Januari 2026 | Serving since 20 January 2026
** Menjabat hingga tanggal 20 Januari 2026 | Serving until 20 January 2026
Partisipasi Komisaris sebagai Pembicara
Participation of the Board of Commissioner as Speakers
Acara/Tema Pembicara Tanggal Lokasi
Event/Theme Speaker Date Location
Scaling Renewable Energy: Accelerating the Path to Net-Zero John Anis 15 Januari 2025 Abu Dhabi
Through Large-Scale Development (Komisaris|Commissioner)
15 January 2025
Energy Transition John Anis 29 Juli 2025 University of
(Komisaris|Commissioner) Auckland,
29 July 2025 Business
School
Partisipasi Direksi sebagai Pembicara
Participation of the Board of Directors as Speakers
Acara/Tema Pembicara Tanggal Lokasi
Event/Theme Speaker Date Location
Energy Corner-CNBC Indonesia Ahmad Yani 14 Januari 2025
Jakarta
(Direktur Operasi|Director of Operation) 14 January 2025
Seri Diskusi Kajian De-Risking Proyek Energi Bersih untuk Edwil Suzandi
Mendukung Transisi Energi di Indonesia (Direktur Eksplorasi & Pengembangan| 3 Februari 2025
Director of Exploration & Development) Online
Discussion Series on De-Risking Clean Energy Projects to 3 February 2025
Support Energy Transition in Indonesia
PT Pertamina Geothermal Energy Tbk
Page 119
Laporan Tahunan 2025 | 2025 Annual Report 117
Acara/Tema Pembicara Tanggal Lokasi
Event/Theme Speaker Date Location
Mandiri Investment Forum 2025 Yurizki Rio 13 Februari 2025
(Direktur Keuangan|Director of Finance) Jakarta
13 February 2025
Ngopi Ber-AKHLAK Yurizki Rio 11 Februari 2025
(Direktur Keuangan|Director of Finance) Jakarta
11 February 2025
Advancing Indonesia's Energy Security and Transition- Edwil Suzandi 18 Februari 2025
ExonMobil's Global Outlook 2050 (Direktur Eksplorasi & Pengembangan| Jakarta
Director of Exploration & Development) 18 February 2025
IDX: Prospek Cerah Bisnis Hijau PGEO Yurizki Rio 25 Februari 2025
(Direktur Keuangan|Director of Finance) Jakarta
25 February 2025
Knowledge Sharing Campaign 2025: “Unlocking Edwil Suzandi 11 Maret 2025
Indonesia’s Potential: PGE’s Geothermal to (Direktur Eksplorasi & Pengembangan| Online
Level Up The Energy Towards 3 GW” Director of Exploration & Development) 11 March 2025
Knowledge Sharing Campaign 2025: “Unlocking Ahmad Yani
19 Maret 2025
Indonesia’s Potential: PGE’s Geothermal to (Direktur Operasi| Director of Operation) Online
19 March 2025
Level Up The Energy Towards 3 GW”
Bahana Corporate Access: Sektor Prioritas Investasi Danantara Julfi Hadi
(Direktur Utama|President Director)
17 April 2025 Jakarta
Bahana Corporate Access: Danantara’s Priority Investment
Sectors
CNBC Indonesia Economic Update 2025: Striving for 8% Edwil Suzandi 18 Juni 2025
Growth Despite Global Uncertainty (Direktur Eksplorasi & Pengembangan| Jakarta
Director of Exploration & Development) 18 June 2025
Energy Corner-CNBC Indonesia Yurizki Rio 8 Juli 2025
(Direktur Keuangan|Director of Finance) Jakarta
8 July 2025
Pertamina Investor Day 2025 Yurizki Rio 16 Juli 2025
(Direktur Keuangan|Director of Finance) Jakarta
16 July 2025
Pertamina Investor Day 2025 Edwil Suzandi 16 Juli 2025
(Direktur Eksplorasi & Pengembangan| Jakarta
Director of Exploration & Development) 16 July 2025
Investor Market Today Edwil Suzandi 30 Juli 2025
(Direktur Eksplorasi & Pengembangan| Jakarta
Director of Exploration & Development) 30 July 2025
Corporate Insight-Geliat Panas Bumi Menyongsong Transisi Edwil Suzandi
Energi Bersih (Direktur Eksplorasi & Pengembangan| 25 Agustus 2025
Director of Exploration & Development) Jakarta
Corporate Insight: The Rise of Geothermal Energy in the 25 August 2025
Transition to Clean Energy
Invitation to the Opening Ceremony and to be One of Our Julfi Hadi
Speakers at the 11th Indonesia International Geothermal (Direktur Utama|President Director) 17 September 2025 Jakarta
Convention & Exhibition (IIGCE) 2025
Energy Corner – CNBC Indonesia Yurizki Rio
18 September 2025 Jakarta
(Direktur Keuangan|Director of Finance)
Indonesian Geothermal Association Ahmad Yani
18 September 2025 Jakarta
(Direktur Operasi| Director of Operation)
IDX Channel: Market Review Edwil Suzandi – Direktur Eksplorasi &
19 September 2025 Jakarta
Pengembangan
IDX Channel: Special Dialogue Ahmad Yani
19 September 2025 Jakarta
(Direktur Operasi| Director of Operation)
Ngopi Ber-AKHLAK Julfi Hadi 10 Oktober 2025
(Direktur Utama|President Director) Jakarta
10 October 2025
Investing on Climate by Editor's Choice Awards 2025: Yurizki Rio 5 Desember 2025
Race to Net Zero Emission and Energy Resillience (Direktur Keuangan|Director of Finance) Jakarta
5 December 2025
Akselerasi Transisi Energi dan Ketahanan Pangan Nasional Ahmad Yani 18 Desember 2025
(Direktur Operasi| Director of Operation) Bogor
Accelerating Energy Transition and National Food Security 18 December 2025
PT Pertamina Geothermal Energy Tbk
Page 120
118 Laporan Tahunan 2025 | 2025 Annual Report
Demografi Pekerja
Employee Demographics
PGE memandang bahwa pekerja adalah aset Perseroan yang PGE viewed its employees as a valuable asset. As a result, the
sangat penting. Oleh karena itu, Perseroan terus berfokus mencari company remains focused on finding the best Human Resources
Sumber Daya Manusia (SDM) terbaik yang sesuai dengan (HR) to meet its requirements. Furthermore, competency and
kebutuhan Perseroan. Selain itu, peningkatan kompetensi dan welfare improvements are continuously implemented to ensure
kesejahteraan juga terus dilakukan untuk menjaga para pekerja. employee well-being.
Hingga akhir tahun 2025, jumlah pekerja PGE mencapai By the end of 2025, the number of PGE employees will reach
561 orang yang mencakup PWTT pada organisasi struktural, 561, including PWTT in structural and project organizations, on
organisasi proyek, izin meninggalkan pekerjaan tanpa upah, unpaid leave, on study assignments, and in PWT. The turnover
tugas belajar, dan PWT. Tingkat perputaran (turnover) pekerja rate of PGE employees throughout 2025 will be 0.2%.
PGE di sepanjang tahun 2025 adalah 0,2%.
Jumlah Pekerja Berdasarkan Gender
Number of Employees Based on Gender
2025 2024 2023
Jenis Kelamin
Gender Jumlah Jumlah Jumlah
% % %
Total Total Total
Laki-laki
490 87,34 460 87,95 450 89,64
Male
Perempuan
71 12,66 63 12,05 52 10,36
Female
Jumlah
561 100 523 100 502 100
Total
Jumlah Pekerja Berdasarkan Jabatan dan Gender
Number of Employees Based on Position and Gender
2025 2024 2023
Jabatan
Position Laki-laki Perempuan Jumlah Laki-laki Perempuan Jumlah Laki-laki Perempuan Jumlah
Male Female Total Male Female Total Male Female Total
Manajemen
73 12 85 64 10 74 62 7 69
Management
Asisten Manager
Management 91 24 115 111 25 136 100 24 124
Assistant
Staf
326 35 361 285 28 313 288 21 309
Staff
Jumlah
490 71 561 460 63 523 450 52 502
Total
PT Pertamina Geothermal Energy Tbk
Page 121
Laporan Tahunan 2025 | 2025 Annual Report 119
Jumlah Pekerja Berdasarkan Usia dan Gender
Number of Employees Based on Age and Gender
2025 2024 2023
Jabatan
Position Laki-laki Perempuan Jumlah Laki-laki Perempuan Jumlah Laki-laki Perempuan Jumlah
Male Female Total Male Female Total Male Female Total
<30 tahun
78 17 95 78 11 74 114 5 119
<30 years old
30-50 tahun
373 50 423 373 49 408 300 47 347
30-50 years old
>50 tahun
39 4 43 39 3 41 36 0 36
>50 years old
Jumlah
490 71 561 490 63 523 450 52 502
Total
Jumlah Pekerja Berdasarkan Pendidikan dan Gender
Number of Employees Based on Education and Gender
2025 2024 2023
Pendidikan
Education Laki-laki Perempuan Jumlah Laki-laki Perempuan Jumlah Laki-laki Perempuan Jumlah
Male Female Total Male Female Total Male Female Total
SMA dan Setara
High School and 60 1 61 60 1 63 59 1 60
Equivalent
Diploma 97 4 101 97 4 89 100 4 104
Sarjana (S1)
246 51 297 246 46 287 221 36 257
Bachelor
Pascasarjana (S2)
83 14 97 83 11 80 68 11 79
Master
Doktoral (S3)
4 1 5 4 1 4 2 0 2
Doctorate
Jumlah
490 71 561 490 63 523 450 52 502
Total
Jumlah Pekerja Berdasarkan Status Ketenagakerjaan dan Gender
Number of Employees Based on Employment Status and Gender
Status 2025 2024 2023
Ketenagakerjaan Laki-laki Perempuan Jumlah Laki-laki Perempuan Jumlah Laki-laki Perempuan Jumlah
Employment Status Male Female Total Male Female Total Male Female Total
Pekerja Waktu Tidak
Tertentu (PWTT) 488 70 558 458 63 521 447 52 499
Permanent Employee
Pekerja Waktu
Tertentu (PWT)
2 1 3 2 0 2 3 0 3
Non-Permanent
Employee
Jumlah
490 71 561 460 63 523 450 52 502
Total
PT Pertamina Geothermal Energy Tbk
Page 122
120 Laporan Tahunan 2025 | 2025 Annual Report
Informasi Pemegang Saham
Shareholder Information
Pemegang Saham Utama dan Pengendali
Ultimate and Controlling Shareholders
Pemerintah Republik
Indonesia melalui
Kementerian BUMN RI
(100%)
100%
99,9%
68,32%
PT Pertamina Geothermal Energy Tbk
Page 123
Laporan Tahunan 2025 | 2025 Annual Report 121
Pemegang Saham Utama
dan Pengendali
Ultimate And Controlling Shareholders
PT Pertamina Power Indonesia yang juga disebut Pertamina PT Pertamina Power Indonesia, also known as Pertamina NRE, is
NRE merupakan entitas anak dari PT Pertamina (Persero), yang a subsidiary of PT Pertamina (Persero), established on 26 October
berdiri pada 26 Oktober 2016. Pertamina NRE sekaligus 2016. Pertamina NRE also serves as the Subholding Power &
menjadi Subholding Power & Renewable Energy (SH PNRE), Renewable Energy (SH PNRE), acting as Pertamina’s strategic
yakni strategic holding company Pertamina yang bertugas holding company responsible for carrying out, controlling, and
menjalankan, mengendalikan, dan mengelola kegiatan usaha managing Pertamina’s gas-based and new and renewable energy
bisnis energi berbasis gas dan energi baru & terbarukan (EBT) (NRE) business activities, both domestically and internationally.
milik Pertamina, baik di dalam negeri maupun di luar negeri.
Sebagai bagian dari PT Pertamina (Persero), Pertamina NRE As part of PT Pertamina (Persero), Pertamina NRE leverages
memanfaatkan sinergi yang kuat di lingkungan Pertamina Group. strong synergy within the Pertamina Group. Through this strategic
Melalui inisiatif strategis ini, Pertamina NRE diharapkan menjadi initiative, Pertamina NRE is expected to become a key player in
pemain utama di bisnis power berbasis gas dan EBT, termasuk gas-based power and NRE businesses, including captive power
captive power business dan bisnis EBT to power di Indonesia. businesses and NRE-to-power businesses in Indonesia.
Saat ini, Pertamina NRE telah mengelola satu entitas anak usaha, Currently, Pertamina NRE manages one subsidiary, PT Pertamina
yakni PT Pertamina Geothermal Energy Tbk dan 4 (empat) entitas Geothermal Energy Tbk, and 4 (four) affiliated entities: PT Jawa
afiliasi, yakni: PT Jawa Satu Power (JSP) yang berpartisipasi Satu Power (JSP), which participates in the Jawa-1 Independent
dalam proyek Independent Power Producer (IPP) Jawa-1, Power Producer (IPP) project; PT Jawa Satu Regas (JSR), which
PT Jawa Satu Regas (JSR) yang mengelola FSRU Proyek Jawa- manages the FSRU for the Jawa-1 Project; PT Industri Baterai
1, PT Industri Baterai Indonesia (IBC) dan Citicore Renewable Indonesia (IBC); and Citicore Renewable Energy Corporation
Energy Corporation (CREC). (CREC).
Hingga akhir tahun 2025, Pertamina NRE memiliki total kapasitas As of the end of 2025, Pertamina NRE had a total installed
terpasang sebesar 2.355,6 MW1 yang terdiri dari 1.772,9 capacity of 2,355.6 MW1, consisting of 1,772.9 MW of gas-
MW gas to power, 2,4 MW PLTBg dan 582,7 MW PLTS (tidak to-power, 2.4 MW of biomass power plants (PLTBg), and 582.7
termasuk PLTS dengan skema jual putus). Sesuai dengan pilar MW of solar power plants (PLTS), (excluding solar power plants
Rencana Jangka Panjang Perusahaan (RJPP), Pertamina NRE under a buyout scheme). In line with the pillars of the Corporate
membagi pengembangan menjadi 3 (tiga) kategori. Long-Term Plan (RJPP), Pertamina NRE divides its development
into 3 (three) categories.
Pertama, fokus pada bisnis utama (core business). Strategi yang First, focus on core business activities. The strategy undertaken
dilakukan adalah optimisasi peluang Captive Power Plant (CPP) includes optimizing Captive Power Plant (CPP) opportunities and
dan Independent Power Producer (IPP) gas to power, baik untuk gas-to-power Independent Power Producer (IPP) projects, both for
proyek tender PT PLN (Persero) maupun captive Pertamina Group. PT PLN (Persero) tenders and for the Pertamina Group captive
market.
Perseroan juga mengembangan energi baru dan terbarukan The Company also develops new and renewable energy (NRE) in
(EBT) secara terukur untuk EBT yang sudah mature. Dalam a measured manner for NRE businesses that are already mature.
skema tersebut adalah Pembangkit Listrik Tenaga Surya (PLTS), These include solar power plants (PLTS), wind power plants (PLTB),
Pembangkit Listrik Tenaga Bayu (PLTB), Pembangkit Listrik Tenaga biomass power plants (PLTBm), waste-to-energy power plants
Biomassa (PLTBm), Pembangkit Listrik Tenaga Sampah (PLTSa) (PLTSa), and hydropower plants (PLTA), developed through both
dan Pembangkit Listrik Tenaga Air (PLTA), baik secara organik organic and non-organic schemes.
maupun non-organik.
*Tidak terkonsolidasi dengan JSP & PGE *Not consolidated with JSP & PGE
PT Pertamina Geothermal Energy Tbk
Page 124
122 Laporan Tahunan 2025 | 2025 Annual Report
Pada saat bersamaan, fokus pengembangan bisnis inti At the same time, core business development also includes biofuel
juga mencakup pabrik biofuel (bioethanol dan FAME) untuk plants (bioethanol and FAME) to support the strategic programs
mendukung program strategis Pemerintah Indonesia. Sedangkan of the Government of Indonesia, as well as the development of
pengembangan pabrik Solar PV Manufacture untuk integrasi Solar PV manufacturing plants to integrate the PLTS value chain.
value chain PLTS.
Kedua, pengembangan bisnis dengan kategori high intangible Second, business development under the high intangible business
business. Hal ini dilakukan melalui bisnis kendaraan listrik atau category. This is carried out through electric vehicle and battery
electric vehicle dan baterai (EV & Battery) melalui Indonesia (EV & Battery) businesses via Indonesia Battery Corporation (IBC)
Battery Corporation (IBC) sebagai afiliasi SH PNRE. as an affiliate of SH PNRE.
Selain itu, yang dilakukan adalah mengembangkan carbon In addition, SH PNRE develops its carbon business from NEBS
business SH PNRE dari NEBS dan pembangkit EBT (tech based). and NRE power plants (technology-based).
Pengembangan yang dilakukan juga mencakup Operation The development also includes Operation & Maintenance (O&M)
& Maintenance (O&M) Service dan Energy Efficiency. Hal ini services and Energy Efficiency. This is undertaken to optimize
dilakukan untuk mengoptimalkan peluang di captive market opportunities in the Pertamina Group captive market, particularly
Pertamina Group, yakni di bidang O&M service dan inisiasi in O&M services and decarbonization initiatives.
dekarbonisasi.
Ketiga adalah pengembangan bisnis yang memiliki nilai masa Third, business development with high future value. Some of these
depan tinggi. Beberapa di antaranya terkait dengan hidrogen relate to hydrogen (H2) for transportation (HRS) and refinery
(H2) untuk transportasi (HRS) dan industri kilang. industries.
Selain itu, yang dilakukan terkait dengan pengembangan In addition, development is also directed toward new energy
pembangkit energi baru seperti Pembangkit Listrik Tenaga Arus power plants such as ocean current power plants (PLTAL) and
Laut (PLTAL) dan Pembangkit Listrik Tenaga Nuklir (PLTN). nuclear power plants (PLTN).
Komposisi Dewan Komisaris dan Direksi Pertamina NRE
Composition of the Board of Commissioners and the Board of Directors of Pertamina NRE
Dewan Komisaris
Board of Commissioners
Komisaris Utama|President Commissioner Rida Mulyana
Komisaris|Commissioner Abdi Mustakim
Komisaris|Commissioner Reni Mayerni
Komisaris|Commissioner Hafidh Nazif
Komisaris|Commissioner Ronny Ariuly Hutahayan
Direksi
Board of Directors
Direktur Utama
John Anis
President Director
Direktur Perencanaan Strategis & Pengembangan Bisnis
Harsono Budi Santoso
Director of Strategic Planning & Business Development
Direktur Proyek & Operasi
Norman Ginting
Director of Projects & Operations
Direktur Keuangan
Mirna Wijayanti
Director of Finance
Direktur Manajemen Risiko
Iin Febrian
Director of Risk Management
Direktur SDM & Penunjang Bisnis
A.A.A. Indira Pratyaksa
Director of HR & Business Support
PT Pertamina Geothermal Energy Tbk
Page 125
Laporan Tahunan 2025 | 2025 Annual Report 123
Komposisi pemegang saham Perseroan per 31 Desember 2025 adalah sebagai berikut:
The composition of the Company’s shareholders as of 31 December 2025 is as follows:
PT Pertamina Pedeve
10,90%
Masyarakat - Public
Indonesia
5,93%
Masdar Indonesia
Solar Holdings RSC
Limited
68,32%
PT Pertamina
14,85% Power Indonesia
Komposisi Pemegang Saham pada Awal dan Akhir Tahun Buku
Shareholder Composition at the Beginning and End of the Financial Year
1 Januari 2025 31 Desember 2025
1 January 2025 31 December 2025
Pemegang Saham Persentase Persentase
Shareholder Jumlah Saham
Kepemilikan Saham Jumlah Saham Kepemilikan Saham
Total Shares
Percentage of Share Total Shares Percentage of Share
Ownership Ownership
PT Pertamina Power Indonesia 28.568.460.000 68,83% 28.568.460.000 68,32%
PT Pertamina Pedeve Indonesia 2.477.682.000 5,97% 2.477.682.000 5,93%
Masdar Indonesia Solar 6.209.421.300 14,96% 6.209.421.300 14,85%
Masyarakat | Public 4.252.460.849 10,24% 4.560.200.096 10,90%
Jumlah
41.508.024.149 100,00% 41.815.763.396 100,00%
Total
Kepemilikan Saham yang Mencapai 5% atau Lebih pada Awal dan Akhir Tahun Buku
Share Ownership of 5% or More at the Beginning and End of the Financial Year
1 Januari 2025 31 Desember 2025
1 January 2025 31 December 2025
Pemegang Saham Persentase Persentase
Shareholder Jumlah Saham Jumlah Saham
Kepemilikan Saham Kepemilikan Saham
Total Shares Total Shares
Percentage of Share Percentage of Share
Ownership Ownership
PT Pertamina Power Indonesia 28.568.460.000 68,83% 28.568.460.000 68.32%
PT Pertamina Pedeve Indonesia 2.477.682.000 5,97% 2.477.682.000 5.93%
Masdar Indonesia Solar 6.209.421.300 14,96% 6.209.421.300 14.85%
Jumlah
37.255.563.300 89,76% 37.255.563.300 89,10%
Total
PT Pertamina Geothermal Energy Tbk
Page 126
124 Laporan Tahunan 2025 | 2025 Annual Report
Kelompok Pemegang Saham Masyarakat (Kurang dari 5%) pada Awal dan Akhir Tahun Buku
Public Shareholders Group (Less than 5%) at the Beginning and End of the Financial Year
1 Januari 2025 31 Desember 2025
1 January 2025 31 December 2025
Pemegang Saham Jumlah Persentase Jumlah Persentase
No. Pemegang Kepemilikan Pemegang Kepemilikan
Shareholder Jumlah Saham Jumlah Saham
Saham Saham Saham Saham
Total Shares Total Shares
Total Percentage of Total Percentage of
Shareholders Share Ownership Shareholders Share Ownership
Perorangan Indonesia
1 36.370 681.484.696 1,64% 58.104 1.260.123.292 3,01%
Indonesian Individuals
Koperasi
2 1 16.500 0,00% 2 265.500 0,00%
Cooperative
Yayasan
3 5 7.197.200 0,02% 13 6.638.100 0,02%
Foundation
Dana Pensiun
4 27 96.439.200 0,23% 35 94.716.700 0,22%
Pension Fund
Asuransi
5 72 380.151.600 0,92% 81 224.599.000 0,54%
Insurance
Reksadana
6 76 226.339.212 0,55% 116 216.236.017 0,52%
Mutual Fund
Perorangan Asing
7 189 5.836.100 0,01% 185 7.583.000 0,02%
Foreign Individuals
Jumlah
36.740 1.397.464.508 3,37% 58.536 1.810.161.609 4,33%
Total
Komposisi Pemegang Saham Berdasarkan Klasifikasi pada Awal dan Akhir Tahun Buku
Shareholder Composition Based on Classification at the Beginning and End of the Financial Year
31 Desember 2025
Pemegang Saham 31 December 2025
No.
Shareholder Jumlah Saham Persentase Kepemilikan Saham
Total Shares Percentage of Share Ownership
Badan Usaha Indonesia
1 33.827.276.918 80,90%
Indonesian Business Entity
Badan Usaha Asing
2 6.720.780.186 16,07%
Foreign Business Entity
Perorangan Indonesia
3 1.260.123.292 3,01%
Indonesian Individuals
Perorangan Asing
4 7.583.000 0,02%
Foreign Individuals
Jumlah
41.815.763.396 100%
Total
Komposisi 20 Pemegang Saham Terbesar pada Awal dan Akhir Tahun Buku
Composition of the 20 Largest Shareholders at the Beginning and End of the Financial Year
Persentase
Pemegang Saham Jumlah Saham Kepemilikan Saham
No. Status
Shareholder Total Shares Percentage of Share
Ownership
Perseroan Terbatas
1 PT Pertamina Power Indonesia 28.568.460.000 68,32%
Limited Liability Company
Badan Usaha Asing
2 Masdar Indonesia Solar Holdings RSC Limited 6.209.421.300 14,85%
Foreign Business Entity
Perseroan Terbatas
3 PT Pertamina Pedeve Indonesia 2.477.682.000 5,93%
Limited Liability Company
Perseroan Terbatas
4 PT Tanam Investasi Indonesia 2.069.807.000 4,95%
Limited Liability Company
Badan Usaha Asing
5 UOB Kay Hian Pte Ltd 110.089.400 0,26%
Foreign Business Entity
Asuransi Nasional
6 PT Prudential Life Assurance - RICEF 83.905.100 0,20%
National Insurance
PT Pertamina Geothermal Energy Tbk
Page 127
Laporan Tahunan 2025 | 2025 Annual Report 125
Persentase
Pemegang Saham Jumlah Saham Kepemilikan Saham
No. Status
Shareholder Total Shares Percentage of Share
Ownership
Dana Pensiun Nasional
7 Dana Pensiun Pertamina 59.909.200 0,14%
National Pension Fund
Bnymsanv Re Sanvdub Re Ishares II Public LTD Comp- Badan Usaha Asing
8 58.494.000 0,14%
2039846926 Foreign Business Entity
Perseroan Terbatas
9 PT Buana Bumi Energi 54.000.000 0,13%
Limited Liability Company
Reksa Dana
10 Reksa Dana SAM Dana Cerdas 53.500.000 0,13%
Mutual Fund
Badan Usaha Asing
11 DBS Bank LTD S/A Prime Hill Fund 46.595.500 0,11%
Foreign Business Entity
Asuransi Nasional
12 Allianz Life IND - Savings Plan Equity Fund 37.294.300 0,09%
National Insurance
Badan Usaha Asing
13 Citibank New York S/A Govermnet of Norway - 23 35.970.800 0,09%
Foreign Business Entity
Citibank New York S/A Ishares Global Clean Badan Usaha Asing
14 35.622.300 0,09%
Energy ETF Foreign Business Entity
Badan Usaha Asing
15 DBS Vickers Secs Singapore (PTE) LTD A/C Clients 35.410.000 0,08%
Foreign Business Entity
SSB 2CW4 HSBC BK PLC ATO STT ST AUT EMG Badan Usaha Asing
16 34.545.200 0,08%
MKT TIEF -2183965186 Foreign Business Entity
RD Premier ETF Indo State- Owned Reksa Dana
17 31.555.563 0,08%
Companies-889064000 Mutual Fund
Asuransi Nasional
18 PT Prudential Sharia Life Assurance - SICEF 30.077.100 0,07%
National Insurance
Perseroan Terbatas
19 PT Taspen 19.800.000 0,05%
Limited Liability Company
Dana Pensiun Nasional
20 Dana Pensiun Telkom 19.725.900 0,05%
National Pension Fund
Kepemilikan Saham Anggota Dewan Komisaris dan Direksi Secara Langsung pada Awal dan Akhir Tahun Buku
Direct Share Ownership of Members of the Board of Commissioners and the Board of Directors at the Beginning and End of the Financial Year
1 Januari 2025 31 Desember 2025
1 January 2025 31 December 2025
Nama Jabatan Persentase Persentase
Name Position Jumlah Saham Kepemilikan Saham Jumlah Saham Kepemilikan Saham
Total Shares Percentage of Share Total Shares Percentage of Share
Ownership Ownership
Komisaris Utama
Gigih Udi Atmo 0 0 0 0
President Commissioner
Komisaris
John Anis 0 0 0 0
Commissioner
Komisaris
Abdulla Zayed 0 0 0 0
Commissioner
Komisaris Independen
Abdul Musawir Yahya Independent 0 0 0 0
Commissioner
Komisaris Independen
Mohammad Firmansyah Independent 0 0 0 0
Commissioner
Direktur Utama
Julfi Hadi 0 0 0 0
President Director
Direktur Eksplorasi &
Pengembangan
Edwil Suzandi 0 0 0 0
Director of Exploration &
Development
Direktur Operasi
Ahmad Yani 0 0 0 0
Director of Operation
Direktur Keuangan
Yurizki Rio 0 0 0 0
Director of Finance
PT Pertamina Geothermal Energy Tbk
Page 128
126 Laporan Tahunan 2025 | 2025 Annual Report
Kepemilikan Saham oleh Anggota Dewan Komisaris dan Direksi Secara Tidak Langsung pada Awal dan Akhir Tahun Buku
Indirect Share Ownership by Members of the Board of Commissioners and Directors at the Beginning and End of the Financial Year
1 Januari 2025 31 Desember 2025
1 January 2025 31 December 2025
Nama Jabatan Persentase Persentase
Name Position Jumlah Saham Kepemilikan Saham Jumlah Saham Kepemilikan Saham
Total Shares Percentage of Share Total Shares Percentage of Share
Ownership Ownership
Komisaris Utama
Gigih Udi Atmo 0 0 0 0
President Commissioner
Komisaris
John Anis 0 0 0 0
Commissioner
Komisaris
Abdulla Zayed 0 0 0 0
Commissioner
Komisaris Independen
Abdul Musawir Yahya Independent 0 0 0 0
Commissioner
Komisaris Independen
Mohammad Firmansyah Independent 0 0 0 0
Commissioner
Direktur Utama
Julfi Hadi 0 0 0 0
President Director
Direktur Eksplorasi &
Pengembangan
Edwil Suzandi 0 0 0 0
Director of Exploration &
Development
Direktur Operasi
Ahmad Yani 0 0 0 0
Director of Operations
Direktur Keuangan
Yurizki Rio 0 0 0 0
Director of Finance
PT Pertamina Geothermal Energy Tbk
Page 129
Laporan Tahunan 2025 | 2025 Annual Report 127
Kronologis Pencatatan Saham
Chronology of Share Listing
Pada 16 Februari 2023 PGE memperoleh pernyataan On 16 February 2023, PGE received an effective notice from
efektif dari Otoritas Jasa Keuangan (OJK) untuk melakukan the Financial Services Authority (OJK) to conduct an Initial Public
Penawaran Umum Saham Perdana atau Initial Public Offering Offering (IPO) to the public. The number of shares offered was
(IPO) kepada masyarakat. Jumlah saham yang ditawarkan 10,350,000,000 (ten billion three hundred and fifty million)
sebanyak 10.350.000.000 (sepuluh miliar tiga ratus lima puluh registered common shares, representing 25% of the Company’s
juta) saham biasa atas nama, yang mewakili 25% dari modal issued and paid-up capital, with an offering price of Rp875 per
ditempatkan dan disetor Perseroan dengan harga penawaran share.
Rp875 per lembar saham.
Perseroan telah melaksanakan IPO pada 20-22 Februari 2023 The Company conducted the IPO from 20 to 22 February 2023
dan berhasil meraih dana sebesar Rp9.056.250.000.000 and successfully raised Rp9,056,250,000,000 (nine trillion
(sembilan triliun lima puluh enam miliar dua ratus lima puluh fifty-six billion two hundred and fifty million rupiah). PGE’s IPO
juta rupiah). IPO PGE mengalami kelebihan permintaan was oversubscribed 3.81 times, demonstrating high investor
(oversubscribed) hingga 3,81 kali. Hal itu menunjukkan tingkat confidence in PGE’s business prospects.
kepercayaan investor yang tinggi kepada prospek bisnis PGE.
Dana yang diperoleh dari IPO setelah dikurangi seluruh biaya- The Company allocated approximately 85% of the proceeds
biaya emisi saham, sekitar 85% dialokasikan Perseroan untuk from the IPO after deducting all share issuance costs for business
pengembangan usaha hingga tahun 2025. Kemudian, sekitar development until 2025. Furthermore, approximately 15%, or a
15% atau sebanyak-banyaknya USD100.000.000 digunakan maximum of USD 100,000,000, was used by the Company for
Perseroan untuk pembayaran sebagian Facilities Agreement partial payment of the Facilities Agreement dated 23 June 2021,
tertanggal 23 Juni 2021 antara Perseroan dengan Mandated between the Company and the Mandated Lead Arrangers, the
Lead Arrangers, Kreditur Sindikasi Awal dari PT Bank Mandiri Initial Syndicated Creditor of PT Bank Mandiri (Persero) Tbk as
(Persero) Tbk sebagai Facility Agent. the Facility Agent.
Selanjutnya, Perseroan mengalokasikan maksimal 1,50% dari Furthermore, the Company allocated a maximum of 1.50% of
modal ditempatkan dan disetor penuh setelah IPO atau sebanyak- its issued and fully paid-up capital after the IPO, or a maximum
banyaknya 630.398.000 (enam ratus tiga puluh juta tiga of 630,398,000 (six hundred thirty million three hundred ninety-
ratus sembilan puluh delapan ribu) saham untuk program Opsi eight thousand) shares, for the Management and Employee Stock
Pembelian Saham kepada Manajemen dan Pekerja Perseroan Option Program (MESOP).
atau Management and Employee Stock Option Program
(MESOP ).
Saham Perseroan tercatat dan mulai diperdagangkan di Bursa The Company’s shares were listed and began trading on the
Efek Indonesia (BEI) pada 24 Februari 2023 dengan kode Indonesia Stock Exchange (IDX) on 24 February 2023, under
transaksi perdagangan PGEO. Jumlah saham beredar (free float) the ticker code PGEO. The number of PGEO free float shares
PGEO mencapai 4.140.578.700 (empat miliar seratus empat reached 4,140,578,700 (four billion one hundred forty million
puluh juta lima ratus tujuh puluh delapan ribu tujuh ratus) saham, five hundred seventy-eight thousand seven hundred) shares, or
atau 10% dari seluruh modal disetor Perseroan. 10% of the Company’s total paid-up capital.
PT Pertamina Geothermal Energy Tbk
Page 130
128 Laporan Tahunan 2025 | 2025 Annual Report
Kronologis Pencatatan Saham
Share Listing Chronology
16 Februari 2023 20-22 Februari 2023 24 Februari 2023
16 February 2023 20-22 February 2023 24 February 2023
Memperoleh penyataan efektif Penawaran saham, Saham PGEO tercatat
dari Otoritas Jasa Keuangan oversubscribed 3,81 kali dan diperdagangan di
Obtaining an effectiove Initial Public Offering, Bursa Efek Indonesia
statements from Financial oversubscribed by 3,81 times PGE’s shares listed and
Services Authority traded on Indonesia
Stock Exchange
Kronologis Pencatatan Obligasi Bond Listing Chronology
Tanggal 27 April 2023 Perseroan menerbitkan surat utang On 27 April 2023, the Company issued an environmentally
berwawasan lingkungan (green bond) senilai USD400.000.000 friendly green bond worth USD 400,000,000 (four hundred
(empat ratus juta Dolar Amerika Serikat) dengan bunga tetap million United States Dollars) with a fixed interest rate of 5.15%
sebesar 5,15% (lima koma lima belas persen) per tahun dan (five-point fifteen percent) per annum, maturing on 27 April 2028.
jatuh tempo pada 27 April 2028.
Green bond PGE menjadi prominent green bond di secondary PGE’s green bond is a prominent green bond in the secondary
market yang tercatat di Singapore Exchange Securities Trading market, listed on the Singapore Exchange Securities Trading
Limited (SGX-ST) dan mendapatkan peringkat Baa3 (Stable) dari Limited (SGX-ST), and has received a Baa3 (Stable) rating from
Moody’s Investors Services dan BBB- (Stable) dari Fitch Rating. Moody’s Investors Services and a BBB- (Stable) rating from Fitch
Peringkat tersebut menunjukkan fundamental bisnis Perseroan Ratings. These ratings demonstrate the Company’s strong business
yang kuat sehingga memiliki proyeksi investasi menjanjikan di fundamentals, thus offering promising investment prospects for
masa depan. the future.
Kepercayaan investor yang tinggi kepada green bond PGE PGE’s green bond was oversubscribed 8.25 times, or USD
terlihat dari kelebihan permintaan (oversubscribed) hingga 3.3 billion, reflecting strong investor confidence. This indicates
8,25 kali atau senilai USD3,3 miliar. Hal ini menjadi indikator investor confidence in Indonesia’s geothermal and renewable
akan kepercayaan investor terhadap potensi investasi di sektor energy sectors.
geotermal dan energi terbarukan di Indonesia.
Dana dari penerbitan green bond akan digunakan Perseroan The Company will use the proceeds from the green bond issuance
untuk membiayai kembali (refinancing) proyek-proyek to refinance PGE’s geothermal resource development projects.
pengembangan sumber daya geotermal PGE. Penggunaan The use of refinancing funds meets the Eligibility Criteria set out in
dana untuk refinancing sudah sesuai dengan Eligibility Criteria PGE’s Green Financing Framework, which aligns with the 2021
yang telah ditetapkan dalam Green Financing Framework PGE Green Bond Principles, 2021 Green Loan Principles, and 2018
yang selaras dengan Green Bonds Principles 2021, Green Loan ASEAN Green Bond Standards.
Principles 2021 dan ASEAN Green Bonds Standards 2018.
Peringkat Green Bond PGE
PGE Green Bond Rating
Agensi Pemeringkat Peringkat
Outlook
Rating Agency Rating
Moody’s Baa3 Stable
Fitch Ratings BBB- Stable
PT Pertamina Geothermal Energy Tbk
Page 131
Laporan Tahunan 2025 | 2025 Annual Report 129
Struktur Grup Perseroan
Company Group Structure
ENTITAS ANAK ENTITAS ASOSIASI
SUBSIDIARIES ASSOCIATES
PT GEOTHERMAL 1. PT Pertamina Hulu energi Corridor
2. PT Pertamina Hulu Energi Gebang North
ENERGI SEULAWAH Sumatera
3. PT Pertamina Hulu Energi Jabung
4. PT Pertamina Hulu Energi Jambi Merang
5. PT Pertamina Hulu Energi Kakap
25% 75% 6. PT Pertamina Hulu Energi Makassar Strait
Perusahaan PT Pertamina 7. PT Pertamina Hulu Energi Ogan Komering
Daerah
Pembangunan
Geothermal
Energy Tbk
8. PT Pertamina Hulu Energi NSO
Aceh 9. PT Pertamina Hulu Energi Raja Tempirai
10. PT Pertamina Hulu Energi Coastal Plains
11. PT Pertamina Hulu Energi Salawati Basin
12. PT Pertamina Hulu Energi Salawati
13. PT Pertamina Hulu Energi Simenggaris
14. PT Pertamina Hulu Energi South Jambi B
PT CAHAYA ANAGATA ENERGY 15. PT Pertamina Hulu Energi Tengah K
16. PT Pertamina Hulu Energi Tomori Sulawesi
17. PT Pertamina Hulu Energi Tuban East Java
18. PT Pertamina Hulu Energi West Madura
Offshore
60% 40% 19. PT Pertamina Hulu Energi Sakakemang
Chevron New PT Pertamina
Energies Geothermal 20. PT Pertamina Hulu Energi Kampar
Holdings Energy Tbk 21. PT Pertamina Hulu Energi Ambalat Timur
International
Ltd
PT PGE KOTAMOBAGU
1% 99%
PT Pertamina Pertamina
Hulu Energi Geothermal
Energy Tbk
PT Pertamina Geothermal Energy Tbk
Page 132
130 Laporan Tahunan 2025 | 2025 Annual Report
Entitas Anak, Entitas Asosiasi, dan
Perusahaan Ventura
Subsidiaries, Associates, and Joint Ventures
Entitas Anak
Subsidiaries
PT PERTAMINA GEOTHERMAL ENERGY KOTAMOBAGU
Alamat Wilayah kerja Kotamobagu, Provinsi Sulawesi Utara
Address Kotamobagu working area, North Sulawesi Province
Kegiatan Usaha Pengusahaan Tenaga Panas Bumi
Line of Business Geothermal Energy Exploitation
Kepemilikan Saham
99%
Share Ownership
Tahun Pendirian
2016
Year of Establishment
Akta Pendirian No. 3 tanggal 9 Mei 2016 sebagaimana diubah dengan Akta No. 20
Dasar Hukum Pendirian tanggal 22 Juli 2022.
Legal Basis of Establishment Deed of Establishment No. 3 dated 9 May 2016, as amended by Deed No. 20 dated
22 July 2022.
Status Operasional Belum beroperasi/produksi
Operation Status Not yet in operation/production
Wilayah Kerja Kotamobagu, Provinsi Sulawesi Utara
Working Area Kotamobagu, North Sulawesi Province
Jumlah Aset 2025
USD11.893.057,76
Total Asset in 2025
PT PERTAMINA GEOTHERMAL ENERGY SEULAWAH
Alamat Wilayah kerja Seulawah Agam, Provinsi Aceh
Address Seulawah Agam working area, Aceh Province
Kegiatan Usaha Pengusahaan Tenaga Panas Bumi
Line of Business Geothermal Energy Exploitation
Kepemilikan Saham
75%
Share Ownership
Tahun Pendirian
2017
Year of Establishment
Dasar Hukum Pendirian Akta Pendirian No.6 tanggal 31 Juli 2017.
Legal Basis of Establishment Deed of Establishment No. 6 dated 31 July 2017.
Status Operasional Belum beroperasi/produksi
Operation Status Not yet in operation/production
Wilayah Kerja
Seulawah, Agam, Aceh.
Working Area
Jumlah Aset 2025
USD26.152,39
Total Asset in 2025
PT Pertamina Geothermal Energy Tbk
Page 133
Laporan Tahunan 2025 | 2025 Annual Report 131
PT CAHAYA ANAGATA ENERGY
Alamat Wilayah kerja Way Ratai, Provinsi Lampung
Address Way Ratai working area, Lampung Province
Kegiatan Usaha Pengusahaan Tenaga Panas Bumi
Line of Business Geothermal Energy Exploitation
Kepemilikan Saham
40%
Share Ownership
Tahun Pendirian
2023
Year of Establishment
Dasar Hukum Pendirian Akta Pendirian No. 36 tanggal 6 December 2023.
Legal Basis of Establishment Deed of Establishment No. 36 dated 6 December 2023.
Status Operasional Belum beroperasi
Operation Status Not yet in operation/production
Wilayah Kerja
Way Ratai, Lampung.
Working Area
Jumlah Aset 2025
USD30.429.112
Total Asset in 2025
Entitas Asosiasi
Associates
PT PERTAMINA HULU ENERGI CORRIDOR
Alamat PHE Tower Lantai 25 Jalan T.B. Simatupang Kav. 99 Jakarta Selatan
Address PHE Tower, 25th Floor, Jalan T.B. Simatupang Kav. 99, South Jakarta
Kegiatan Usaha Pengusahaan Tenaga Panas Bumi
Line of Business Geothermal Energy Exploitation
Kepemilikan Saham PT Pertamina Geothermal Energy Tbk : 1%
Share Ownership PT Pertamina Hulu Energi : 99%
Tahun Pendirian
2007
Year of Establishment
Dasar Hukum Pendirian Akta Pendirian No. 20 tanggal 18 Desember 2007.
Legal Basis of Establishment Deed of Establishment No. 20 dated 18 December 2007.
Status Operasional Sudah Beroperasi
Operation Status In Operation
PT PERTAMINA HULU ENERGI JABUNG
Alamat PHE Tower Lantai 25 Jalan T.B. Simatupang Kav. 99 Jakarta Selatan
Address PHE Tower, 25th Floor, Jalan T.B. Simatupang Kav. 99, South Jakarta
Kegiatan Usaha Usaha Hulu Migas
Line of Business Upstream Oil and Gas Business
Kepemilikan Saham PT Pertamina Geothermal Energy Tbk : 1%
Share Ownership PT Pertamina Hulu Energi : 99%
Tahun Pendirian
2007
Year of Establishment
Dasar Hukum Pendirian Akta Pendirian No. 21 tanggal 18 Desember 2007
Legal Basis of Establishment Deed of Establishment No. 21 dated 18 December 2007
Status Operasional Sudah Beroperasi/Produksi
Operation Status In Operation/Production
PT Pertamina Geothermal Energy Tbk
Page 134
132 Laporan Tahunan 2025 | 2025 Annual Report
PT PERTAMINA HULU ENERGI OGAN KOMERING
Alamat PHE Tower Lantai 25 Jalan T.B. Simatupang Kav. 99 Jakarta Selatan
Address PHE Tower, 25th Floor, Jalan T.B. Simatupang Kav. 99, South Jakarta
Kegiatan Usaha Usaha Hulu Migas
Line of Business Upstream Oil and Gas Business
Kepemilikan Saham PT Pertamina Geothermal Energy Tbk : 1%
Share Ownership PT Pertamina Hulu Energi : 99%
Tahun Pendirian
2007
Year of Establishment
Dasar Hukum Pendirian Akta Pendirian No. 14 tanggal 18 Desember 2007.
Legal Basis of Establishment Deed of Establishment No. 14 dated 18 December 2007.
Status Operasional Sudah Beroperasi/Produksi
Operation Status In Operaion/Production
PT PERTAMINA HULU ENERGI GEBANG NORTH SUMATERA
Alamat PHE Tower Lantai 25 Jalan T.B. Simatupang Kav. 99 Jakarta Selatan
Address PHE Tower, 25th Floor, Jalan T.B. Simatupang Kav. 99, South Jakarta
Kegiatan Usaha Usaha Hulu Migas
Line of Business Upstream Oil and Gas Business
Kepemilikan Saham PT Pertamina Geothermal Energy Tbk : 1%
Share Ownership PT Pertamina Hulu Energi : 99%
Tahun Pendirian
2007
Year of Establishment
Dasar Hukum Pendirian Akta Pendirian No. 13 tanggal 18 Desember 2007.
Legal Basis of Establishment Deed of Establishment No. 13 dated 18 December 2007.
Status Operasional Non – Aktif
Operation Status Non – Active
PT PERTAMINA HULU ENERGI KAKAP
Alamat PHE Tower Lantai 25 Jalan T.B. Simatupang Kav. 99 Jakarta Selatan
Address PHE Tower, 25th Floor, Jalan T.B. Simatupang Kav. 99, South Jakarta
Kegiatan Usaha Usaha Hulu Migas
Line of Business Upstream Oil and Gas Business
Kepemilikan Saham PT Pertamina Geothermal Energy Tbk : 1%
Share Ownership PT Pertamina Hulu Energi : 99%
Tahun Pendirian
2007
Year of Establishment
Dasar Hukum Pendirian Akta Pendirian No. 17 tanggal 18 Desember 2007.
Legal Basis of Establishment Deed of Establishment No. 17 dated 18 December 2007.
Status Operasional Sudah Beroperasi /Produksi
Operation Status In Operation/Production
PT PERTAMINA HULU ENERGI JAMBI MERANG
Alamat PHE Tower Lantai 25 Jalan T.B. Simatupang Kav. 99 Jakarta Selatan
Address PHE Tower, 25th Floor, Jalan T.B. Simatupang Kav. 99, South Jakarta
Kegiatan Usaha Usaha Hulu Migas
Line of Business Upstream Oil and Gas Business
Kepemilikan Saham PT Pertamina Geothermal Energy Tbk : 1%
Share Ownership PT Pertamina Hulu Energi : 99%
Tahun Pendirian
2007
Year of Establishment
Dasar Hukum Pendirian Akta Pendirian No. 9 tanggal 18 Desember 2007.
Legal Basis of Establishment Deed of Establishment No. 9 dated 18 December 2007.
Status Operasional Sudah Beroperasi/Produksi
Operation Status In Operation/Production
PT Pertamina Geothermal Energy Tbk
Page 135
Laporan Tahunan 2025 | 2025 Annual Report 133
PT PERTAMINA HULU ENERGI MAKASSAR STRAIT
Alamat PHE Tower Lantai 25 Jalan T.B. Simatupang Kav. 99 Jakarta Selatan
Address PHE Tower, 25th Floor, Jalan T.B. Simatupang Kav. 99, South Jakarta
Kegiatan Usaha Usaha Hulu Migas
Line of Business Upstream Oil and Gas Business
Kepemilikan Saham PT Pertamina Geothermal Energy Tbk : 1%
Share Ownership PT Pertamina Hulu Energi : 99%
Tahun Pendirian
2007
Year of Establishment
Dasar Hukum Pendirian Akta Pendirian No. 23 tanggal 18 Desember 2007.
Legal Basis of Establishment Deed of Establishment No. 23 dated 18 December 2007.
Status Operasional Sudah Beroperasi /Produksi
Operation Status In Operation/Production
PT PERTAMINA HULU ENERGI SALAWATI BASIN
Alamat PHE Tower Lantai 25 Jalan T.B. Simatupang Kav. 99 Jakarta Selatan
Address PHE Tower, 25th Floor, Jalan T.B. Simatupang Kav. 99, South Jakarta
Kegiatan Usaha Usaha Hulu Migas
Line of Business Upstream Oil and Gas Business
Kepemilikan Saham PT Pertamina Geothermal Energy Tbk : 1%
Share Ownership PT Pertamina Hulu Energi : 99%
Tahun Pendirian
2007
Year of Establishment
Dasar Hukum Pendirian Akta Pendirian No. 22 tanggal 18 Desember 2007.
Legal Basis of Establishment Deed of Establishment No. 22 dated 18 December 2007.
Status Operasional Sudah Beroperasi/Produksi
Operation Status In Operation/Production
PT PERTAMINA HULU ENERGI RAJA TEMPIRAI
Alamat PHE Tower Lantai 25 Jalan T.B. Simatupang Kav. 99 Jakarta Selatan
Address PHE Tower, 25th Floor, Jalan T.B. Simatupang Kav. 99, South Jakarta
Kegiatan Usaha Usaha Hulu Migas
Line of Business Upstream Oil and Gas Business
Kepemilikan Saham PT Pertamina Geothermal Energy Tbk : 1%
Share Ownership PT Pertamina Hulu Energi : 99%
Tahun Pendirian
2007
Year of Establishment
Dasar Hukum Pendirian Akta Pendirian No. 12 tanggal 18 Desember 2007.
Legal Basis of Establishment Deed of Establishment No. 12 dated 18 December 2007.
Status Operasional Sudah Beroperasi/Produksi
Operation Status In Operation/Production
PT PERTAMINA HULU ENERGI NSO
Alamat PHE Tower Lantai 25 Jalan T.B. Simatupang Kav. 99 Jakarta Selatan
Address PHE Tower, 25th Floor, Jalan T.B. Simatupang Kav. 99, South Jakarta
Kegiatan Usaha Usaha Hulu Migas
Line of Business Upstream Oil and Gas Business
Kepemilikan Saham PT Pertamina Geothermal Energy Tbk : 1%
Share Ownership PT Pertamina Hulu Energi : 99%
Tahun Pendirian
2008
Year of Establishment
Dasar Hukum Pendirian Akta Pendirian No. 12 tanggal 15 Januari 2008.
Legal Basis of Establishment Deed of Establishment No. 12 dated 15 January 2008.
Status Operasional Sudah Beroperasi/Produksi
Operation Status In Operation/Production
PT Pertamina Geothermal Energy Tbk
Page 136
134 Laporan Tahunan 2025 | 2025 Annual Report
PT PERTAMINA HULU ENERGI RAJA SIMENGGARIS
Alamat PHE Tower Lantai 25 Jalan T.B. Simatupang Kav. 99 Jakarta Selatan
Address PHE Tower, 25th Floor, Jalan T.B. Simatupang Kav. 99, South Jakarta
Kegiatan Usaha Usaha Hulu Migas
Line of Business Upstream Oil and Gas Business
Kepemilikan Saham PT Pertamina Geothermal Energy Tbk : 1%
Share Ownership PT Pertamina Hulu Energi : 99%
Tahun Pendirian
2007
Year of Establishment
Dasar Hukum Pendirian Akta Pendirian No. 10 tanggal 18 Desember 2007
Legal Basis of Establishment Deed of Establishment No. 10 dated 18 December 2007
Status Operasional Pengembangan
Operation Status Development
PT PERTAMINA HULU ENERGI SALAWATI
Alamat PHE Tower Lantai 25 Jalan T.B. Simatupang Kav. 99 Jakarta Selatan
Address PHE Tower, 25th Floor, Jalan T.B. Simatupang Kav. 99, South Jakarta
Kegiatan Usaha Usaha Hulu Migas
Line of Business Upstream Oil and Gas Business
Kepemilikan Saham PT Pertamina Geothermal Energy Tbk : 1%
Share Ownership PT Pertamina Hulu Energi : 99%
Tahun Pendirian
2007
Year of Establishment
Dasar Hukum Pendirian Akta Pendirian No. 11 tanggal 18 Desember 2007
Legal Basis of Establishment Deed of Establishment No. 11 dated 18 December 2007
Status Operasional Sudah Beroperasi/Produksi
Operation Status In Operation/Production
PT PERTAMINA HULU ENERGI TOMORI SULAWESI
Alamat PHE Tower Lantai 25 Jalan T.B. Simatupang Kav. 99 Jakarta Selatan
Address PHE Tower, 25th Floor, Jalan T.B. Simatupang Kav. 99, South Jakarta
Kegiatan Usaha Usaha Hulu Migas
Line of Business Upstream Oil and Gas Business
Kepemilikan Saham PT Pertamina Geothermal Energy Tbk : 1%
Share Ownership PT Pertamina Hulu Energi : 99%
Tahun Pendirian
2007
Year of Establishment
Dasar Hukum Pendirian Akta Pendirian No. 8 tanggal 18 Desember 2007
Legal Basis of Establishment Deed of Establishment No. 8 dated 18 December 2007
Status Operasional Sudah Beroperasi/Produksi
Operation Status In Operation/Production
PT PERTAMINA HULU ENERGI TENGAH K
Alamat PHE Tower Lantai 25 Jalan T.B. Simatupang Kav. 99 Jakarta Selatan
Address PHE Tower, 25th Floor, Jalan T.B. Simatupang Kav. 99, South Jakarta
Kegiatan Usaha Usaha Hulu Migas
Line of Business Upstream Oil and Gas Business
Kepemilikan Saham PT Pertamina Geothermal Energy Tbk : 1%
Share Ownership PT Pertamina Hulu Energi : 99%
Tahun Pendirian
2007
Year of Establishment
Dasar Hukum Pendirian Akta Pendirian No. 19 tanggal 18 Desember 2007
Legal Basis of Establishment Deed of Establishment No. 19 dated 18 December 2007
Status Operasional Non-Aktif
Operation Status Non-Active
PT Pertamina Geothermal Energy Tbk
Page 137
Laporan Tahunan 2025 | 2025 Annual Report 135
PT PERTAMINA HULU ENERGI ENERGI SAKAKEMANG
Alamat PHE Tower Lantai 25 Jalan T.B. Simatupang Kav. 99 Jakarta Selatan
Address PHE Tower, 25th Floor, Jalan T.B. Simatupang Kav. 99, South Jakarta
Kegiatan Usaha Usaha Hulu Migas
Line of Business Upstream Oil and Gas Business
Kepemilikan Saham PT Pertamina Geothermal Energy Tbk : 1%
Share Ownership PT Pertamina Hulu Energi : 99%
Tahun Pendirian
2007
Year of Establishment
Dasar Hukum Pendirian Akta Pendirian No. 22 tanggal 19 Mei 2015
Legal Basis of Establishment Deed of Establishment No. 22 dated 19 May 2015
Status Operasional Eksplorasi
Operation Status Exploration
PT PERTAMINA HULU ENERGI WEST MADURA OFFSHORE
Alamat PHE Tower Lantai 25 Jalan T.B. Simatupang Kav. 99 Jakarta Selatan
Address PHE Tower, 25th Floor, Jalan T.B. Simatupang Kav. 99, South Jakarta
Kegiatan Usaha Usaha Hulu Migas
Line of Business Upstream Oil and Gas Business
Kepemilikan Saham PT Pertamina Geothermal Energy Tbk : 1%
Share Ownership PT Pertamina Hulu Energi : 99%
Tahun Pendirian
2007
Year of Establishment
Dasar Hukum Pendirian Akta Pendirian No. 18 tanggal 18 Desember 2007
Legal Basis of Establishment Deed of Establishment No. 18 dated 18 December 2007
Status Operasional Sudah Beroperasi/Produksi
Operation Status In Operation/Production
PT PERTAMINA HULU ENERGI TUBAN EAST JAVA
Alamat PHE Tower Lantai 25 Jalan T.B. Simatupang Kav. 99 Jakarta Selatan
Address PHE Tower, 25th Floor, Jalan T.B. Simatupang Kav. 99, South Jakarta
Kegiatan Usaha Usaha Hulu Migas
Line of Business Upstream Oil and Gas Business
Kepemilikan Saham PT Pertamina Geothermal Energy Tbk : 1%
Share Ownership PT Pertamina Hulu Energi : 99%
Tahun Pendirian
2007
Year of Establishment
Dasar Hukum Pendirian Akta Pendirian No. 15 tanggal 18 Desember 2007
Legal Basis of Establishment Deed of Establishment No. 15 dated 18 December 2007
Status Operasional Sudah Beroperasi/Produksi
Operation Status In Operation/Production
PT PERTAMINA HULU ENERGI AMBALAT TIMUR
Alamat PHE Tower Lantai 25 Jalan T.B. Simatupang Kav. 99 Jakarta Selatan
Address PHE Tower, 25th Floor, Jalan T.B. Simatupang Kav. 99, South Jakarta
Kegiatan Usaha Usaha Hulu Migas
Line of Business Upstream Oil and Gas Business
Kepemilikan Saham PT Pertamina Geothermal Energy Tbk : 1%
Share Ownership PT Pertamina Hulu Energi : 99%
Tahun Pendirian
2016
Year of Establishment
Dasar Hukum Pendirian Akta Pendirian No. 3 tanggal 9 Mei 2016
Legal Basis of Establishment Deed of Establishment No. 3 dated 9 May 2016
Status Operasional Eksplorasi
Operation Status Exploration
PT Pertamina Geothermal Energy Tbk
Page 138
136 Laporan Tahunan 2025 | 2025 Annual Report
PT PERTAMINA HULU ENERGI ENERGI KAMPAR
Alamat PHE Tower Lantai 25 Jalan T.B. Simatupang Kav. 99 Jakarta Selatan
Address PHE Tower, 25th Floor, Jalan T.B. Simatupang Kav. 99, South Jakarta
Kegiatan Usaha Usaha Hulu Migas
Line of Business Upstream Oil and Gas Business
Kepemilikan Saham PT Pertamina Geothermal Energy Tbk : 1%
Share Ownership PT Pertamina Hulu Energi : 99%
Tahun Pendirian
2015
Year of Establishment
Dasar Hukum Pendirian Akta Pendirian No. 23 tanggal 19 Mei 2015
Legal Basis of Establishment Deed of Establishment No. 23 dated 19 May 2015
Status Operasional Sudah Beroperasi/Produksi
Operation Status In Operation/Production
PT PERTAMINA HULU ENERGI SOUTH JAMBI B
Alamat PHE Tower Lantai 25 Jalan T.B. Simatupang Kav. 99 Jakarta Selatan
Address PHE Tower, 25th Floor, Jalan T.B. Simatupang Kav. 99, South Jakarta
Kegiatan Usaha Usaha Hulu Migas
Line of Business Upstream Oil and Gas Business
Kepemilikan Saham PT Pertamina Geothermal Energy Tbk : 1%
Share Ownership PT Pertamina Hulu Energi : 99%
Tahun Pendirian
2007
Year of Establishment
Dasar Hukum Pendirian Akta Pendirian No. 16 tanggal 18 Desember 2007
Legal Basis of Establishment Deed of Establishment No. 16 dated 18 December 2007
Status Operasional Non-Aktif
Operation Status Non-Active
PT PERTAMINA HULU ENERGI COASTAL PLAINS PEKANBARU
Alamat PHE Tower Lantai 25 Jalan T.B. Simatupang Kav. 99 Jakarta Selatan
Address PHE Tower, 25th Floor, Jalan T.B. Simatupang Kav. 99, South Jakarta
Kegiatan Usaha Usaha Hulu Migas
Line of Business Upstream Oil and Gas Business
Kepemilikan Saham PT Pertamina Geothermal Energy Tbk : 1%
Share Ownership PT Pertamina Hulu Energi : 99%
Tahun Pendirian
2007
Year of Establishment
Dasar Hukum Pendirian Akta Pendirian No. 51 tanggal 30 Mei 2008
Legal Basis of Establishment Deed of Establishment No. 51 dated 30 May 2008
Status Operasional Sudah Beroperasi/Produksi
Operation Status In Operation/Production
Entitas Anak PGE pada Anak Usaha PT Pertamina Hulu Energi
(Terdiri dari 21 Anak Perusahaan)
Subsidiaries of PGE within the Subsidiaries of PT Pertamina Hulu Energi (Comprising 21 Subsidiary Companies)
1 PT Pertamina Hulu Energi NSO 12 PT Pertamina Hulu Energi South Jambi B
2 PT Pertamina Hulu Energi Kampar 13 PT Pertamina Hulu Energi Ambalat Timur
3 PT Pertamina Hulu Energi Coastal Plains Pekanbaru 14 PT Pertamina Hulu Energi Simenggaris
4 PT Pertamina Hulu Energi Jambi Merang 15 PT Pertamina Hulu Energi Tengah K
5 PT Pertamina Hulu Energi Ogan Komering 16 PT Pertamina Hulu Energi Salawati
6 PT Pertamina Hulu Energi Kakap 17 PT Pertamina Hulu Energi Tuban East Java
7 PT Pertamina Hulu Energi Raja Tempirai 18 PT Pertamina Hulu Energi West Madura Offshore
8 PT Pertamina Hulu Energi Jabung 19 PT Pertamina Hulu Energi Makassar Strait
9 PT Pertamina Hulu Energi Corridor 20 PT Pertamina Hulu Energi Salawati Basin
10 PT Pertamina Hulu Energi Gebang N Sumatra 21 PT Pertamina Hulu Energi Tomori Sulawesi
11 PT Pertamina Hulu Energi MNK Sakakemang
PT Pertamina Geothermal Energy Tbk
Page 139
Laporan Tahunan 2025 | 2025 Annual Report 137
Alamat Kantor Area, Entitas Anak,
dan Entitas Asosiasi
Address of Area Office, Subsidiaries, and Associates
Alamat Kantor Area
Address of Area Office
Area Kamojang Area Ulubelu Area Lahendong
Kamojang Area Ulubelu Area Lahendong Area
Jl. Raya Kamojang Kab. Bandung PO BOX 120 Jl. Raya Ulubelu Pekon Muara Dua, Ulubelu, Jl. Raya Tomohon No. 420 Tomohon,
Garut, Jawa Barat, 44151 Tanggamus, Lampung, 35373 Sulawesi Utara 95362
T: (022) 780 6882/780 6883 T: (0729) 228 81/228 82 T: (0431) 351 378
F: (022) 780 6379 F: (0729) 228 83 F: (0431) 351 175
Area Karaha Area Sibayak Area Lumut Balai
Karaha Area Sibayak Area Lumut Balai Area
Jl. Karaha Kp. Ciselang, Ds. Semangat Gunung Kec. Merdeka, Ds. Penindaian Kec. Semende Darat Laut,
Ds. Kadipaten Kec. Kadipaten, Kab. Karo, Sumatera Utara, 22158 Kab. Muara Enim Sumatera Selatan, 31356
Kab. Tasikmalaya Jawa Barat, 46157 T: (0628) 352 0873
T: (0265) 3983 3222 F: (0628) 352 2025
F: (0265) 3983 3230
Entitas Anak
Subsidiaries
PT Pertamina Geothermal Energy Kotamobagu PT Geothermal Energi Seulawah
Kantor Pusat | Head Office Kantor Pusat | Head Office
Grha Pertamina-Tower Pertamax Lt. 9, Grha Pertamina-Tower Pertamax Lt. 9,
Jl. Medan Merdeka Timur No. 11-13, Gambir, Jl. Medan Merdeka Timur No. 11-13, Gambir,
Jakarta Pusat-10110, Indonesia Jakarta Pusat – 10110, Indonesia
T: 021 39833222 T: 021 39833222
PT Cahaya Anagata Energy
Kantor Pusat | Head Office
Grha Pertamina-Tower Pertamax Lt. 9,
Jl. Medan Merdeka Timur No. 11-13, Gambir,
Jakarta Pusat-10110, Indonesia
T: 021 39833222
PT Pertamina Geothermal Energy Tbk
Page 140
138 Laporan Tahunan 2025 | 2025 Annual Report Akuntan Publik dan Kantor Akuntan Publik (KAP) Public Accountant and Public Accounting Firm (KAP) Berdasarkan keputusan Rapat Umum Pemegang Saham Tahunan Based on the resolution of the Company’s Annual General (RUPST) Perseroan Tahun Buku 2024 yang diselenggarakan pada Meeting of Shareholders (AGMS) for Fiscal Year 2024, held tanggal 3 Juni 2025, Pemegang Saham memberikan pelimpahan on 3 June 2025, the Shareholders granted authority to the kewenangan kepada Dewan Komisaris untuk menunjuk Kantor Board of Commissioners to appoint a Public Accounting Firm Akuntan Publik (KAP) dalam melakukan pemeriksaan atas (KAP) to audit the Company’s Consolidated Financial Statements Laporan Keuangan Konsolidasian Perseroan periode tahun for fiscal year 2025, including the determination of its service buku 2025 berikut besaran nilai jasanya, sesuai ketentuan dan fees, in accordance with the prevailing laws and regulations. peraturan yang berlaku. Dewan Komisaris Perseroan, melalui The Company’s Board of Commissioners, through Decree Surat Keputusan No. Kpts-008/DK/PGE/2025-S0 tanggal 27 No. Kpts-008/DK/PGE/2025-S0 dated 27 August 2025, Agustus 2025 tentang Penetapan Kantor Akuntan Publik (KAP) regarding the Appointment of a Public Accounting Firm (KAP) untuk Jasa Audit Laporan Keuangan Konsolidasian PT Pertamina for the Audit Services of the Consolidated Financial Statements Geothermal Energi Tbk Tahun Buku 2025, mendelegasikan of PT Pertamina Geothermal Energy Tbk for Fiscal Year 2025, kewenangan kepada Direksi untuk melaksanakan pengadaan delegated authority to the Board of Directors to carry out the dan penetapan KAP dalam melakukan pemeriksaan (audit) procurement and appointment of the KAP to conduct the audit atas Laporan Keuangan Perseroan untuk periode tahun buku of the Company’s Financial Statements for fiscal year 2025, 2025 berikut besaran nilai jasanya. Perseroan menunjuk dan including the determination of its service fees.The Company menetapkan KAP Purwanto Susanti dan Surja (KAP PSS/EY appointed and assigned KAP Purwanto Susanti dan Surja (KAP Indonesia) sebagai pelaksana audit laporan keuangan Perseroan PSS/EY Indonesia) as the auditor of the Company’s financial untuk periode tahun buku 2025 pada tanggal 2 Oktober 2025. statements for the 2025 fiscal year on 2 October 2025. Penunjukan KAP sebagai pelaksana audit Laporan Keuangan The appointment of the KAP as the auditor of the Company’s Perseroan Tahun Buku 2025 dilaksanakan untuk memenuhi Financial Statements for the 2025 Financial Year was carried out ketentuan Keputusan Menteri Keuangan Nomor 423/ to comply with the provisions of the Minister of Finance Decree KMK.06/2002 Tahun 2002 tentang Praktik Akuntan Publik, serta No. 423/KMK.06/2002 of 2002 concerning Public Accounting Peraturan Otoritas Jasa Keuangan (OJK) Nomor 9 Tahun 2023 Practices, as well as Financial Services Authority (OJK) Regulation tentang Penggunaan Jasa Akuntan Publik dan Kantor Akuntan No. 9 of 2023 concerning the Use of Public Accountant Services Publik dalam Kegiatan Jasa Keuangan. and Public Accounting Firms in Financial Services Activities. PT Pertamina Geothermal Energy Tbk
Page 141
Laporan Tahunan 2025 | 2025 Annual Report 139
Purwanto Susanti dan Surja (EY)
Alamat Indonesia Stock Exchange Building, Tower 2, 7th Floor,
Address Jl. Jend. Sudirman Kav. 52-53, Jakarta 12190, Indonesia
T: (021) 5289 5000
F: (021) 5289 4100
www.ey.com
Nama Akuntan
Irwan Haswir
Accountant Name
Izin Akuntan
AP. 1726, STTD.AP-30/PM.223/2021
Accountant License
Jasa yang diberikan Laporan Keuangan Konsolidasian PT Pertamina Geothermal Energy Tbk
Service Provided Consolidated Financial Statements of PT Pertamina Geothermal Energy Tbk
Audit Laporan Keuangan Tahun Buku 2025
Financial Statements for the 2025 Financial Year
Periode Penugasan
2025
Assignment Period
Biaya
Rp2.175.000.000
Fee
Opini Wajar dalam semua hal yang material
Opinion Unqualified Opinion
Non Audit (Jasa Lain)
-
Non-Audit (Other Services)
Biaya
-
Fee
Penggunaan Jasa Akuntan Publik Tahun 2023-2025
Use of Public Accounting Services 2023-2025
Kantor Akuntan
Tahun Buku Publik Alamat Akuntan Jasa yang Diberikan Opini Audit Biaya
Financial Year Public Accounting Address Accountant Service Provided Audit Opinion Fee
Firms
2025 Purwanto Susanti Indonesia Stock Irwan Haswir Izin Audit Laporan Wajar dalam Rp2.175.000.000
dan Surja (EY) Exchange Building, No. AP. 1726 Keuangan semua hal yang
Tower 2, 7th Floor, Irwan Haswir Tahunan material
Jl.Jend. Sudirman License No. AP. Perseroan untuk Unqualified
Kav. 52-53, Jakarta 1726 tahun buku yang Opinion
12190, Indonesia berakhir 31 Desember
T: (021) 5289 5000 2025
F: (021) 5289 4100 Audit of the Company's
www.ey.com Annual Financial
Statemets for the
financial year ending
31 December 2025
2024 Purwantono, Indonesia Stock Irwan Haswir Izin Audit Laporan Wajar dalam Rp2.020.000.000
Sungkoro & Surja Exchange Building, No. AP. 1726 Keuangan semua hal yang
(EY) Tower 2, 7th Floor, Irwan Haswir Tahunan material
Jl.Jend. Sudirman License No. AP. Perseroan untuk Unqualified
Kav. 52-53, Jakarta 1726 tahun buku yang Opinion
12190, Indonesia berakhir 31 Desember
T: (021) 5289 5000 2024
F: (021) 5289 4100 Audit of the Company's
www.ey.com Annual Financial
Statemets for the
financial year ending
31 December 2024
2023 Purwantono, Indonesia Stock Irwan Haswir Audit Laporan Wajar dalam Rp1.743.000.000
Sungkoro & Surja Exchange Building, Izin No. AP. 1726 Keuangan semua hal yang
(EY) Tower 2, 7th Floor, Irwan Haswir Tahunan material
Jl.Jend. Sudirman License No. AP. Perseroan untuk Unqualified
Kav. 52-53, Jakarta 1726 tahun buku yang Opinion
12190, Indonesia berakhir 31
T: (021) 5289 5000 Desember 2023
F: (021) 5289 4100 Audit of the Company's
www.ey.com Annual Financial
Statemets for the
financial year ending 31
December 2023
PT Pertamina Geothermal Energy Tbk
Page 142
140 Laporan Tahunan 2025 | 2025 Annual Report
Nama dan Alamat Lembaga
dan/atau Profesi Penunjang
Pasar Modal
Name and Address of Capital Market Supporting Institutions and/or Professions
Konsultan Hukum
Legal Consultant
Ginting & Reksodiputro in association with Allen Overy Shearman Sterling LLP.
Alamat The Energy Building, 15th Floor, Sudirman Central Business District,
Address Jl. Jenderal Sudirman Kav. 52-53, RT. 5/RW. 3, Senayan, Kebayoran Baru, Jakarta 12190
T: 021 2986 5151
Jasa yang diberikan • Konsultan Hukum Proyek Ekspansi Bisnis (“Proyek Seroja”).
Service Provided • Konsultan Hukum - Jasa Hukum Terkait Penyelesaian Permasalahan Berhentinya PLTP Unit 1 dan
Unit 2 Area Sibayak (“Jasa Hukum Sibayak”).
• Legal Consultant for Business Expansion Project (“Seroja Project”).
• Legal Consultant - Legal Services Related to the Resolution of Issues Regarding the Shutdown
of PLTP Units 1 and 2 in the Sibayak Area (“Sibayak Legal Services”).
Biaya Proyek Seroja / Seroja Project : 55,000 USD
Fee Jasa Hukum Sibayak / Sibayak Legal Services : Rp369.000.000
Periode Penugasan Proyek Seroja : 27 Maret 2025 - 27 Juni 2025
Assignment Period Jasa Hukum Sibayak : 16 Mei 2025 - Tanggal serah terima hasil Pekerjaan
Seroja Project: 27 March 2025 - 27 June 2025
Sibayak Legal Services: 16 May 2025 - Date of handover of work results
UMBRA LAW FIRM
Alamat Telkom Landmark Tower, Tower 2, Lantai 49
Address Jl. Gatot Subroto Kav.52.
Jakarta 12710, Indonesia
Telkom Landmark Tower, Tower 2, 49th Floor
Jl. Gatot Subroto Kav.52.
Jakarta 12710, Indonesia
Jasa yang diberikan Jasa Konsultan Hukum Eksternal untuk Penyusunan Kajian Hukum Terkait Skema Kerja Sama
Service Provided Pemanfaatan Energi Panas Bumi untuk Eksplorasi dan Off- Grid.
External Legal Consulting Services for the Preparation of Legal Studies Related to Cooperation
Schemes for the Utilization of Geothermal Energy for Exploration and Off-Grid Applications.
Biaya Kajian Hukum/ Legal Review: Rp275.000.000
Fee
Periode Penugasan 30 Juli 2025 - 30 Desember 2025
Assignment Period 30 July 2025 - 30 December 2025
SSEK LAW FIRM
Alamat Mayapada Tower, Lantai 14
Address Jl. Jend Sudirman Kav. 28
Jakarta 12020, Indonesia
Mayapada Tower, 14th Floor
Jl. Jend Sudirman Kav. 28
Jakarta 12020, Indonesia
PT Pertamina Geothermal Energy Tbk
Page 143
Laporan Tahunan 2025 | 2025 Annual Report 141
SSEK LAW FIRM
Jasa yang diberikan Pekerjaan Jasa Hukum Kajian Hukum Kotamobagu
Service Provided
Legal Services Legal Review Kotamobagu
Biaya Kajian Hukum/ Legal Review : Rp225.000.000,-
Fee
Periode Penugasan 10 Maret 2025 - 31 Mei 2025
Assignment Period 10 March 2025 - 31 May 2025
Assegaf Hamzah & Partners
Alamat Capital Place, Level 36 & 37
Address Jl. Jenderal Gatot Subroto Kav. 18, Jakarta Selatan, DKI Jakarta 12710
Capital Place, Level 36 & 37
Jl. Jenderal Gatot Subroto Kav. 18, South Jakarta, DKI Jakarta 12710
Jasa yang diberikan Jasa Konsultan Hukum terkait Proyek Seulawah
Service Provided Legal Consulting Services related to the Seulawah Project
Biaya Rp1.524.304.013,-
Fee
Periode Penugasan 24 Januari 2025-23 Mei 2026
Assignment Period 24 January 2025-23 May 2026
Biro Administrasi Efek
Securities Administration Bureau
PT Datindo Entrycom
Alamat Jl. Hayam Wuruk No.28, Lantai 2 Jakarta 10120
Address Jl. Hayam Wuruk No. 28, 2nd Floor, Jakarta 10120
Jasa yang diberikan Pengelolaan administrasi saham pada Pasar Perdana dan Pasar Sekunder
Service Provided Share administration management in the Primary Market and Secondary Market
Biaya Rp120.000.000
Fee
Periode Penugasan 1 Januari - 31 Desember 2025
Assignment Period 1 January - 31 December 2025
Bursa Efek Indonesia
Indonesia Stock Exchange
Bursa Efek Indonesia | Indonesia Stock Exchange
Alamat Gedung Bursa Efek Indonesia, Tower 1, Lantai 6
Address Jl. Jend. Sudirman Kav. 34-35 Jakarta Selatan 12190, Indonesia
Telp.: 0800-100-9000
Web: callcenter@idx.co.id
Indonesia Stock Exchange Building, Tower 1, 6th Floor
Jl. Jend. Sudirman Kav 34-35, Jakarta Selatan 12190, Indonesia
T: 0800-100-9000
Web: callcenter@idx.co.id
Jasa yang diberikan Menyelenggarakan dan menyediakan sistem dan atau sarana untuk mempertemukan penawaran
Service Provided jual permintaan beli efek pihak-pihak lain dengan tujuan memperdagangkan efek.
Organizing and providing a system and/or facilities to bring together offers to sell and requests to
buy securities from other parties with the aim of trading securities.
Biaya Rp277.500.000
Fee
PT Pertamina Geothermal Energy Tbk
Page 144
142 Laporan Tahunan 2025 | 2025 Annual Report
Kustodian Sentral Efek Indonesia
Indonesian Central Securities Depository
PT Kustodian Sentral Sentral Efek Indonesia (KSEI)
Alamat Gedung Bursa Efek Indonesia, Tower 1, Lantai 6
Address Jl. Jend. Sudirman Kav. 34-35 Jakarta Selatan 12190, Indonesia
T.: 0800-100-9000
W: callcenter@idx.co.id
Indonesia Stock Exchange Building, Tower 1, 6th Floor
Jl. Jend. Sudirman Kav 34-35, Jakarta Selatan 12190, Indonesia
T: 0800-100-9000
W: callcenter@idx.co.id
Jasa yang diberikan Lembaga Penyimpanan dan Penyelesaian (LPP) di pasar modal Indonesia.
Service Provided Depository and Settlement Institution (LPP) in the Indonesian capital market.
Biaya Rp50.172.000
Fee
Otoritas Jasa Keuangan (OJK)
Financial Services Authority (OJK)
Otoritas Jasa Keuangan
Financial Services Authority
Alamat Gedung Sumitro Djojohadikusumo Jalan Lapangan Banteng Timur 2-4 Jakarta 10710 Indonesia
Address T: (021) 2960 0000
Sumitro Djojohadikusumo Building, Jl. Lapangan Banteng Timur 2-4, Jakarta 10710, Indonesia
T: (021) 2960 0000
Jasa yang diberikan Lembaga Pengawas Pasar Modal
Service Provided Capital Market Supervisory Agency
Biaya Rp150.000.000
Fee
Lembaga Pemeringkat Efek
Securities Rating Agency
Moody’s Investors Services Singapore Pte. Ltd. Sdf
Alamat 50 Raffles Place #23-06 Singapore Land Tower Singapore 048623
Address Telp.: +65 6398 8300
50 Raffles Place #23-06 Singapore Land Tower Singapore 048623
Tel.: +65 6398 8300
Jasa yang diberikan Melakukan pemantauan credit rating Perusahaan.
Service Provided Monitoring the Company's credit rating.
Biaya 89,000USD
Fee
Periode Penugasan 2025
Assignment Period
Fitch Ratings Ltd
Alamat 30 North Colonnade, Canary Wharf, London E14 5GN
Address T : +44 20 3530 1000
F : +44 20 3530 1000
30 North Colonnade, Canary Wharf, London E14 5GN
T : +44 20 3530 1000
F : +44 20 3530 1000
Jasa yang diberikan Melakukan pemeringkatan perusahaan atas publik maupun yang diterbitkan.
Service Provided Conducting ratings for the Company on both public and private securities issued.
Biaya USD73,500
Fee
Periode Penugasan 2025
Assignment Period
PT Pertamina Geothermal Energy Tbk
Page 145
Laporan Tahunan 2025 | 2025 Annual Report 143
Keanggotaan Asosiasi
Association Membership
Asosiasi Posisi dalam Asosiasi Tahun Bergabung
Association Position in the Association Year of Joining
Asosiasi Panas Bumi Indonesia Presiden Direktur PGE (Julfi Hadi) menjabat sebagai 1995
Indonesia Geothermal Association Ketua Umum Asosiasi Panas Bumi Indonesia periode
2023-2026
President Director of PGE (Julfi Hadi) serves as
Chairman of the Indonesian Geothermal Association
for the 2023-2026 period.
Asosiasi Emiten Indonesia (AEI) Anggota 2024
Indonesia Issuers Association Member
Indonesia Corporate Secretary Association (ICSA) Anggota 2023
Member
PT Pertamina Geothermal Energy Tbk
Page 146
144 Laporan Tahunan 2025 | 2025 Annual Report
Informasi pada Situs
WEB Perseroan
Information on The Company’s Website
Sesuai ketentuan Otoritas Jasa Keuangan (OJK) Nomor In accordance with Financial Services Authority (OJK)
8/POJK.04/2015 tentang Situs Web Emiten atau Regulation No. 8/POJK.04/2015 concerning Websites of
Perusahaan Publik, PGE telah menyediakan situs web Issuers or Public Companies, PGE has provided the website
www.pge.pertamina.com yang dapat diakses oleh khalayak www.pge.pertamina.com, accessible to the general public,
umum sebagai bagian dari peningkatan praktik tata kelola as part of its efforts to improve good corporate governance
perusahaan yang baik, khususnya dalam hal transparansi practices, particularly regarding transparency with shareholders
kepada pemegang saham dan pemangku kepentingan. and stakeholders.
Perjalanan PGE Manajemen
PGE’s Journey Management
Visi Misi Struktur Group
Energy Hijau Kami Vision and Mission Perusahaan
Corporate Group
Our Green Energy Tata Nilai Structure
Core Values
Penghargaan &
Informasi Umum Sertifikasi
Public Information Awards & Certifications
Skema Pemanfaatan Eksplorasi
Panas Bumi Exploration
Geothermal Uilization
Scheme Struktur Group
Perusahaan
Bisnis Kami Operasi Sendiri Corporate Group Structure
In-House Operations
Our Business
Kontrak Operasi
Proyek Pengembangan Bersama
Development Projects Joint Operation Contracts
Informasi Investor Ikhtisar Keuangan Keterbukaan
Investor Information Financial Highlights Informasi
Information Disclosure
Kepemilikan Saham
Share Ownership RUPS
Investor General Meeting of
Prospektus Shareholders
Investor Prospectus
Green Document
Laporan Green Document
Reports
Informasi Saham
Share linformation
PT Pertamina Geothermal Energy Tbk
Page 147
Laporan Tahunan 2025 | 2025 Annual Report 145
Situs web ini menyajikan informasi terbaru tentang Perseroan This website provides up-to-date information about the Company,
mencakup informasi umum, informasi bagi pemodal atau including general information, information for investors,
investor, informasi tata kelola perusahaan, serta informasi terkait corporate governance information, and information related
tanggung jawab sosial perusahaan. Situs web PGE tersedia to corporate social responsibility. The PGE website is available
dalam Bahasa Indonesia dan Bahasa Inggris. Informasi di dalam in both Indonesian and English. The PGE website contains
situs web PGE mencakup: information on:
Informasi Tata Kelola
Perusahaan Keberlanjutan
Corporate Governance Sustainability
Information
Etika Perusahaan
Corporate Ethics
Tata Kelola
PGE’s Journey
Keamanan Digital
Digital Security
Informasi Tanggung
Jawab Sosial
Perusahaan Keberlanjutan
Corporate Social Sustainability
Responsibility
Information
Strategi Kebijakan ESG Perubahan Iklim Lingkungan Sosial Kesehatan dan
Strategy ESG Policy Climate Change Climate Change Social Keselamatan Kerja
Occupational
Health and Safety
Mengurangi Jejak Kehati Area Karaha Perekrutan, Penerapan Sistem
Lingkungan Conservation of the Karaha Pengembangan, dan Manajemen K3 secara
Addressing Climate Change Area Retensi Pekerja Menyeluruh
Recruitment, Development, Comprehensive
Mengatasi Perubahan Kehati Area Kamojang and Manpowers Retention Implementation of
Iklim Conservation of the Occupational Health and
Reducing Environmental Kamojang Area Pemberdayaan Safety Management System
Footprint Masyarakat
Kehati Area Ulubelu Community Empowerment Contractor Safety
Conservation of the Ulubelu Management System
Area Inovasi dan Penelitian Contractor Safety
Innovation and Research Management System
Kehati Area Lahedong
Conservation of the Pencegahan Insiden
Lahedong Area Skala Besar
Prevention of Large-Scale
Incidents
PT Pertamina Geothermal Energy Tbk
Page 148
146 Laporan Tahunan 2025 | 2025 Annual Report PT Pertamina Geothermal Energy Tbk
Page 149
Laporan Tahunan 2025 | 2025 Annual Report 147
04
Penunjang
Bisnis
Business Support
PT Pertamina Geothermal Energy Tbk
Page 150
148 Laporan Tahunan 2025 | 2025 Annual Report
Sumber Daya Manusia
Human Resources
KEBERAGAMAN, KESETARAAN, DAN INKLUSIVITAS
DIVERSITY, EQUITY, AND INCLUSION
PT Pertamina Geothermal Energi Tbk PT Pertamina Geothermal Energi Tbk
(“PGE”, “Perseroan”) memiliki kebijakan (“PGE” or the “Company”) has policies in place
untuk mendorong terciptanya keberagaman, to encourage the creation of diversity, equality,
kesetaraan, dan inklusivitas di lingkungan and inclusivity within the Company, regardless of
Perseroan, tanpa memandang suku, agama, ethnicity, religion, or race. These initiatives are
maupun ras. Inisiatif tersebut diwujudkan, implemented, among others, through:
antara lain melalui:
Hak Asasi Manusia 01
Human Rights
Kebijakan untuk Menjamin Hak Asasi Manusia
(HAM) dalam Bisnis.
Policy to Guarantee Human Rights in Business.
Kebijakan Tempat Kerja 02 Inklusivitas 03
yang Saling Menghormati Inclusivity
Respectful Workplace Policy
Kebijakan untuk Lingkungan Kerja yang Bebas Kebijakan Keberagaman dan Inklusivitas
Diskriminasi, Kekerasan, dan Pelecehan.
Diversity and Inclusion Policy.
Policy Aims to Create a Workplace
Free from Discrimination, Violence,
and Harassment.
PT Pertamina Geothermal Energy Tbk
Page 151
Laporan Tahunan 2025 | 2025 Annual Report 149
Hingga akhir tahun buku 2025, bisnis utama Perseroan As of the end of the 2025 financial year, the Company’s core
adalah pengelolaan panas bumi. Sesuai kebutuhan di bidang business was geothermal management. In line with operational
operasional dan usaha pada lapangan usaha tersebut, pekerja and business needs in this line of business, male employees
laki-laki masih mendominasi profil tenaga kerja, yaitu sebanyak still dominated the workforce profile, totaling 490 employees
490 orang atau 87,34% dari total pekerja yang berjumlah 561 or 87.34% of the total workforce of 561 employees. Nevertheless,
orang. Meski demikian, PGE berkomitmen menerapkan prinsip PGE is committed to applying the principle of non-discrimination
non-diskriminasi yaitu dengan memberikan kesempatan yang by providing equal opportunities to all employees, regardless
sama kepada semua pekerja, tanpa memandang jenis kelamin, of gender, ethnicity, religion, or race.
suku, agama, atau ras.
Perseroan juga menjamin kesetaraan remunerasi antara pekerja The Company also ensures equal remuneration between male and
laki-laki dan perempuan. Dengan demikian, penentuan upah female employees. Accordingly, salary determination is based
didasarkan pada jabatan, masa kerja, pendidikan, keahlian, on position, length of service, education, skills, and performance,
serta kinerja, dan bukan jenis kelamin maupun faktor lain yang and not on gender or other irrelevant factors.
tidak relevan.
Komitmen PGE terhadap keberagaman, kesetaraan dan PGE’s commitment to diversity, equality, and inclusivity
inklusivitas diwujudkan melalui berbagai kebijakan Perseroan, is reflected in various Company policies, including the Diversity
di antaranya Diversity Policy, Respectful Workplace Policy, serta Policy, Respectful Workplace Policy, and policies to ensure
Kebijakan untuk menjamin Hak Asasi Manusia (HAM) dalam the protection of Human Rights in business. The implementation
bisnis. Penerapan komitmen tersebut terus disampaikan melalui of this commitment continues to be communicated through various
berbagai program kampanye dan sosialisasi. campaigns and awareness programs.
Peningkatan keterwakilan perempuan di lingkungan kerja Increasing female representation in the workplace is one
merupakan salah satu fokus strategi keberlanjutan Perseroan of the Company’s long-term sustainability priorities. As of year-
dalam jangka panjang. Per akhir tahun 2025, sebesar 12,66% end 2025, women represented 12.66% of the Company’s total
dari total Pekerja di Perseroan merupakan perempuan, dengan workforce, with 17% of them holding managerial positions.
17% di antaranya telah menduduki posisi manajerial. Perseroan The Company is committed to increasing female workforce
berkomitmen meningkatkan proporsi keterwakilan pekerja representation through the application of gender equality
perempuan di Perusahaan melalui prinsip kesetaraan gender principles across all human capital management processes,
(gender equality) dalam seluruh proses pengelolaan SDM dengan including the integration of gender diversity considerations
integrasi aspek keberagaman gender dalam proses rekrutmen, in recruitment, competency development, career opportunities,
pengembangan kompetensi, kesempatan karir, suksesi dan succession, and performance evaluation.
penilaian kinerja.
Upaya ini terus diperkuat melalui berbagai inisiatif, seperti These efforts continue to be strengthened through various
program pelatihan kepemimpinan, coaching, dan keikutsertaan initiatives, such as leadership training programs, coaching,
dalam program akselerasi Catalyzer Grup Pertamina. PGE and participation in the Catalyzer acceleration program
bersama PT Pertamina Power Indonesia (Pertamina NRE) juga of the Pertamina Group. PGE, together with PT Pertamina Power
telah membentuk organisasi pemberdayaan pekerja perempuan Indonesia (Pertamina NRE), has also established a women
yang disebut PERTIWI. employee empowerment organization known as PERTIWI.
Perseroan juga berkomitmen untuk mendukung peran The Company is also committed to supporting the role of persons
penyandang disabilitas dalam lingkungan kerja, dengan target with disabilities in the workplace, with a target of approximately
sekitar 1% dari pekerja PGE di tahun 2030. Komitmen dimulai 1% of PGE employees by 2030. This commitment begins with
dari pemberian kesempatan yang setara pada proses rekrutmen, providing equal opportunities in the recruitment process and
hingga penyediaan berbagai program dan fasilitas untuk extends to the provision of various programs and facilities
membantu kinerja mereka. to support their performance.
PT Pertamina Geothermal Energy Tbk
Page 152
150 Laporan Tahunan 2025 | 2025 Annual Report
Pemberdayaan
Pekerja Perempuan
melalui PERTIWI
Empowerment of Female Employees
through PERTIWI
PGE bersama PT Pertamina Power Indonesia (Pertamina PGE, together with PT Pertamina Power Indonesia
NRE) sebagai Subholding Power and New Renewable (Pertamina NRE) as a Subholding of Power and New
Energy (PNRE) PT Pertamina (Persero) telah membentuk Renewable Energy (PNRE) PT Pertamina (Persero), has
komunitas pemberdayaan perempuan di lingkungan formed a women’s empowerment community within
Subholding PNRE bernama Perempuan Pertamina the PNRE Subholding called Perempuan Pertamina
Tangguh Inspiratif Wibawa Integritas (PERTIWI). Tangguh Inspiratif Wibawa Integritas (PERTIWI).
Komunitas ini memiliki visi sebagai penggerak This community has a vision to be a driving force for
pemberdayaan Pekerja perempuan, kesetaraan gender, empowering female workers, advancing gender equality,
dan inklusivitas di Perseroan. and fostering inclusivity within the Company.
Misi dari PERTIWI adalah mengembangkan kapabilitas, PERTIWI’s mission is to develop capabilities and
meningkatkan employee well-being di Subholding PNRE, improve employee well-being at PNRE Subholding,
mengintegrasikan perspektif keberagaman, kesetaraan as well as to integrate diversity, equality, and inclusion
dan inklusi dalam kebijakan, prosedur dan kegiatan perspectives into policies, procedures, and operational
operasional. PERTIWI juga turut memperbesar jaringan activities. PERTIWI also aims to expand partnership
kemitraan dengan organisasi dan lembaga terkait networks with relevant organizations and institutions
untuk memperluas advokasi kesetaraan gender dan to broaden advocacy for gender equality and women’s
pemberdayaan perempuan di lingkungan subholding. empowerment within the subholding environment.
PERTIWI memiliki struktur organisasi tersendiri yang PERTIWI has its own organizational structure, comprising
merupakan gabungan dari pekerja Pertamina NRE employees from Pertamina NRE and PGE. The President
dan pekerja PGE. Direktur Utama Pertamina NRE dan Director of Pertamina NRE and the President Director
Direktur Utama PGE berperan sebagai penasihat atau of PGE serve as advisors within the organizational
advisor struktur dalam organisasi. structure.
Program PERTIWI terangkum dalam 4 (empat) fokus PERTIWI programs are grouped into 4 (four) focus
bidang. Pertama adalah bidang sustainability yang areas. The first is the sustainability focus area, which
bertujuan melakukan kegiatan dan program yang aims to carry out activities and programs aligned
selaras dengan tujuan perusahaan guna meningkatkan with the Company’s objectives to enhance women’s
pemberdayaan dan kepemimpinan perempuan (women empowerment and leadership within the Pertamina
empowerment dan women leadership) di Pertamina Group. Programs prepared under this focus area include
Group. Beberapa program yang disiapkan, antara the 3R program (reduce, reuse, recycle), the Disability
lain program 3R (reduce, reuse, recycle), Disability Awareness Program, and Diversity, Equity, and Inclusion
Awareness Program, dan Diversity, Equity and Inclusion (DEI) assessments.
(DEI) assessment.
PT Pertamina Geothermal Energy Tbk
Page 153
Laporan Tahunan 2025 | 2025 Annual Report 151
Kedua, bidang development yang bertujuan The second focus area is development, which
mengembangkan kemampuan personal dan profesional aims to develop the personal and professional
pekerja perempuan agar dapat berkontribusi dan capabilities of female employees so they can
berkarya dalam rangka mendukung Pertamina menjadi contribute and perform in support of Pertamina’s
perusahaan energi berkelas dunia. Bidang ini mencakup aspiration to become a world-class energy company.
Women Leadership-Ksatria Prameswari, pelatihan etika This focus area includes the Women Leadership–Ksatria
(bisnis etik, table manner), serta PERTIWI coaching & Prameswari program, ethics training (business ethics
mentoring. and table manners), as well as PERTIWI coaching and
mentoring.
Ketiga, bidang wellbeing dengan tujuan meningkatkan The third focus area is wellbeing, which aims to improve
kesejahteraan dan kesehatan pekerja perempuan dan the welfare and health of female employees and their
keluarga, serta mendorong pekerja perempuan untuk families, as well as to encourage female employees
berperan di dalam kegiatan sosial kemasyarakatan. to participate in social and community activities.
Beberapa program yang termasuk Wellbeing antara Programs under the wellbeing focus area include talk
lain talkshow dan seminar, PERTIWI Charity, workout shows and seminars, PERTIWI Charity, workout days, and
day, dan roadshow financial planner. Setiap program financial planner roadshows. Each PERTIWI program has
PERTIWI memiliki tujuan/goals, penanggung jawab, its objectives, persons in charge, and timelines.
serta timeline masing-masing.
Kemudian bidang Partnership & Communication yang Then there is the Partnership & Communication
berperan dalam membangun kemitraan strategis guna division, which builds strategic partnerships to support
mendukung pengembangan Pekerja perempuan, the development of female employees and strengthens
serta memperkuat komunikasi dan publikasi mengenai communication and publications on the importance
pentingnya pemberdayaan perempuan kepada of women’s empowerment to Pertamina’s internal and
pemangku kepentingan internal dan eksternal Pertamina. external stakeholders.
PT Pertamina Geothermal Energy Tbk
Page 154
152 Laporan Tahunan 2025 | 2025 Annual Report
Mendukung Peran Penyandang Supporting the Roles of People with
Disabilitas Disabilities
Sebagai bagian dari komitmen PGE terhadap prinsip As part of PGE’s commitment to the principles of diversity
keberagaman dan inklusivitas, Perseroan memastikan pemberian and inclusiveness, the Company ensures equal employment
kesempatan kerja yang setara bagi penyandang disabilitas untuk opportunities for people with disabilities to work within
bekerja di lingkungan Perseroan melalui proses rekrutmen yang the Company through a recruitment process that is transparent,
transparan, objektif, dan bebas dari diskriminasi atas dasar jenis objective, and free from discrimination based on gender or other
kelamin maupun latar belakang keberagaman lainnya. diversity factors.
PGE juga telah menyediakan fasilitas kantor yang ramah PGE has also provided disability-friendly office facilities,
penyandang disabilitas, dari mulai fasilitas toilet, lift, hingga including toilets, elevators, and parking areas. This commitment
tempat parkir. Komitmen Perseroan ini didukung oleh is supported by the Pertamina Group, which has established
Pertamina Group yang telah memiliki program persiapan kerja a work readiness program for persons with disabilities
untuk penyandang disabilitas sebagai modal untuk bekerja as a foundation for employment within the Pertamina Group,
di Pertamina Group, termasuk di PGE, melalui kerja sama including PGE, through collaboration with various universities.
dengan berbagai universitas.
PGE menargetkan jumlah pekerja penyandang disabilitas PGE targets the number of employees with disabilities to reach up
hingga 1% dari total seluruh pekerja di tahun 2030. Per akhir to 1% of the total workforce by 2030. As of the end of 2025, PGE
tahun 2025, PGE telah mempekerjakan 4 (empat) pekerja had employed four 4 (four) persons with disabilities, consisting
penyandang disabilitas, yakni di 1 (satu) PWT di Fungsi of 1 (one) permanent worker in the Operation & Engineering
Operation & Engineering dan 3 (tiga) Tenaga Alih Daya Function and 3 (three) outsourced workers in the Human Capital,
di Fungsi Human Capital, Controlling & Reporting, dan Corporate Controlling & Reporting, and Corporate Secretary Functions.
Secretary.
PENGISIAN JABATAN DALAM STAFFING POSITIONS IN THE COMPANY
ORGANISASI PERUSAHAAN ORGANIZATION
Kebijakan Perseroan dalam pengisian jabatan dalam organisasi The Company’s staffing policy is carried out transparently
dilakukan secara transparan dan objektif, serta kesempatan yang and objectively, with equal opportunities provided regardless
setara tanpa memandang latar belakang suku, agama, ras, jenis of ethnicity, religion, race, gender, or other characteristics. Each
kelamin dan karakteristik lainnya. Setiap calon pekerja dinilai candidate is assessed based on competencies and experience
berdasarkan kompetensi dan pengalaman yang sesuai dengan that are aligned with the position and organizational needs.
posisi dan kebutuhan organisasi.
Proses pengisian jabatan dalam organisasi dapat dilakukan The process of staffing positions within the organization can
melalui mutasi pekerja dari internal Pertamina Group atau be carried out through the transfer of employees from within
rekrutmen Pekerja baru dari Pekerja berpengalaman atau lulusan the Pertamina Group or the recruitment of new employees
baru yang memenuhi kualifikasi dan kebutuhan Perseroan. from experienced workers or recent graduates who meet
the qualifications and needs of the Company.
Selama tahun 2025, Perseroan telah merekrut 46 (empat puluh During 2025, the Company recruited 46 (fourty six) new
enam) pekerja baru dengan penempatan yang tersebar di employees, with placements distributed across all PGE operational
seluruh wilayah kerja PGE. areas.
Rekrutmen Pekerja Baru Berdasarkan Gender
Recruitment of PGE’s New Employees Based on Gender
Jenis Kelamin
2025 2024 2023
Gender
Laki-laki
38 18 12
Male
Perempuan
8 7 2
Female
Jumlah
46 25 14
Total
PT Pertamina Geothermal Energy Tbk
Page 155
Laporan Tahunan 2025 | 2025 Annual Report 153
KOMPENSASI DAN BENEFIT PEKERJA EMPLOYEES’ COMPENSATIONS AND
BENEFITS
Perseroan menetapkan kebijakan remunerasi pekerja The Company stipulated employees’ remuneration policy based
berdasarkan jabatan, masa kerja, dan pencapaian kinerja on position, length of service, and performance achievement with
dengan prinsip non-diskriminasi. Kebijakan ini dirancang sesuai a non-discriminatory principle. This policy was designed pursuant
dengan peraturan ketenagakerjaan yang berlaku, termasuk to the applicable regulations on manpower, taking note of the
memperhatikan standar Upah Minimum Provinsi (UMP). Provincial Minimum Wage (UMP) standards.
Kompensasi dan manfaat yang diberikan kepada Pekerja Compensation and benefits provided to Permanent Employees
Waktu Tidak Tertentu (PWTT) PGE mencakup basic salary (upah (PWTT) at PGE include basic salary, allowances, incentives,
pokok), tunjangan, insentif, bonus, program kesehatan bagi bonuses, healthcare programs for active employees and retirees,
pekerja aktif dan pensiun serta program purnakarya. Ketentuan as well as post-employment programs. Employment provisions
ketenagakerjaan bagi PWTT diatur dalam Perjanjian Kerja for PWTT are governed by a Collective Labor Agreement (CLA)
Bersama (PKB) antara Perseroan dan Serikat Pekerja Pertamina between the Company and the Pertamina Geothermal Energy
Geothermal Energy (SPPGE), yang diperbarui secara berkala Labor Union (SPPGE), which is periodically updated to ensure
untuk memastikan relevansi dan kesesuaian dengan ketentuan relevance and alignment with prevailing laws and regulations,
peraturan perundang-undangan serta kebutuhan Perseroan dan as well as the needs of both the Company and its employees.
Pekerja.
Adapun ketentuan bagi Pekerja Waktu Tertentu (PWT) diatur Provisions for Fixed-Term Employees (PWT) are set out in
dalam Perjanjian Kerja Waktu Tertentu (PKWT) antara Perseroan Fixed-Term Employment Agreements (PKWT) between the
dan PWT yang bersangkutan, dengan tetap mengacu pada Company and the respective employees, while remaining aligned
ketentuan umum yang berlaku di Perseroan. with the general policies applicable within the Company.
Jenis Tunjangan Pekerja Waktu Tidak Tertentu (PWTT) Pekerja Waktu Tertentu (PWT)
Type of Allowance Permanent Employee Fixed-Term Employee (PWT)
Tunjangan Hari Raya
√ √
Religious Festivity Allowance
Uang Cuti
√ -
Leave Encashment
Program Pensiun
√ -
Pension Program
Program Kesehatan Pensiun
√ -
Pension Healthcare Program
Lainya
√ -
Others
Untuk mendukung keseimbangan antara kesehatan jasmani To help maintain balance between employees’ physical and
dan rohani pekerja, PGE juga menyediakan berbagai fasilitas mental health, PGE also provides various supporting facilities
pendukung guna meningkatkan kenyamanan pekerja, seperti aimed at improving employees’ comfort, such as prayer rooms
penyediaan ruang ibadah dan ruang laktasi bagi ibu menyusui. and lactation rooms for nursing mothers. The Company also
Perseroan memfasilitasi dukungan sarana dan anggaran bagi provides facilities and budgets for employees to perform
pekerja dalam melakukan kegiatan komunitas seperti olahraga, communal activities, such as sports events, religious activities,
kerohanian dan kesenian. and arts.
Sesuai peraturan ketenagakerjaan, PGE memberikan cuti Aligned with the manpower regulation, PGE grants maternity
melahirkan bagi pekerja perempuan selama 1,5 bulan kalender leave to female employees for 1.5 calendar months prior to the
menjelang waktu kelahiran sesuai surat keterangan medis dan pregnancy due date based on a medical certificate and 1.5
1,5 bulan kalender setelah melahirkan dengan tetap menerima calendar months following hildbirth with full pay. Moreover, male
upah penuh. Sementara itu, pekerja laki-laki yang istrinya employees whose wives give birth are also entitled to five days
melahirkan juga berhak mendapatkan cuti selama lima hari. of leave.
PT Pertamina Geothermal Energy Tbk
Page 156
154 Laporan Tahunan 2025 | 2025 Annual Report
PENGEMBANGAN KOMPETENSI PEKERJA EMPLOYEES’ COMPETENCY
DEVELOPMENT
Perseroan mengembangkan kompetensi pekerja secara konsisten The Company consistently develops employee competencies,
yang direalisasikan melalui berbagai program pelatihan, which are realized through various training, education, and
pendidikan, dan pengembangan karier. Upaya ini dilakukan career development programs. These efforts are undertaken to
agar setiap pekerja memiliki keahlian dan pengetahuan yang ensure that each employee has skills and knowledge relevant to
relevan dengan kebutuhan bisnis dan tantangan industri, agar business needs and industry challenges, enabling them to deliver
dapat memberikan nilai lebih bagi Perseroan. added value to the Company.
PGE memiliki beberapa program pendidikan dan pengembangan PGE has several education and competency development
kompetensi yang terbagi menjadi empat kategori yaitu: programs, which are divided into four categories, namely:
Kategori Penjelasan Jenis Pengembangan Kompetensi
No.
Category Description Type of Competency Development
1 Leadership/Managerial Program pelatihan dan pengembangan • G-Leaders(Geothermal Leadership Empowerment and Development
untuk memperluas kapasitas for Enhanced Resilience and Success)
individu untuk menampilkan peran • Program New Energy Development Scheme (NEDS) Academy
kepemimpinan dalam organisasi • Effective Working Attitude Program (EWA)
• Early Leader Development Program (ELDP)
Training and development programs to • Team Leader Development Program (TLDP)
expand individual capacity to perform • People Leader Development Program (PLDP)
leadership roles within the organization • Operational Leader Development Program (OLDP)
• Strategic Leader Development Program (SLDP)
• Visionary Leader Development Program (VLDP)
2 Technical/Functional Program pelatihan dan pengembangan • G-Elevate(Postgraduate Certification Geothermal Technology)
untuk menambah keterampilan dan • Pelatihan dan sertifikasi terkait HSSE, di antaranya: Safety Inspector,
keahlian sesuai dengan jenis pekerjaan HAZOPS (Hazard & Operability Studies), Auditor Energi, Manager
Energi, Life Cycle Assessment, Limbah B3, Limbah Non B3, Incident
Investigation dan lain-lain
• Sertifikasi Risk Management, di antaranya: Qualified Risk
Management Professional (QRMP), Certified Risk Professional (CRP),
dan training Project Risk Management
• Sertifikasi Pemenuhan Kompetensi Pengawas Operasional Panas
Bumi, di antaranya: Uji Kompetensi Pengawas Operasional Pertama
(POP), Pengawas Operasional Madya (POM) dan Pengawas
Operasional Utama (POU)
• Pemenuhan Sertifikasi ISO
• Sertifikasi Kompetensi Tenaga Teknik Ketenagalistrikan Bidang
Pembangkitan (HAKIT)
• Sertifikasi Project Management
• Sertifikasi Asset Integrity Management (AIM)
• Tenaga Ahli: Inspektur Pipa Penyalur Panas Bumi, Geothermal,
Reservoir, Pengeboran dll
Training and development programs • G-Elevate (Postgraduate Certification in Geothermal Technology)
to enhance skills and expertise in • Training and certifications related to HSSE, such as: Safety Inspector,
accordance with job functions HAZOPS (Hazard & Operability Studies), Energy Auditor, Energy
Manager, Life Cycle Assessment, Hazardous Waste (B3),
Non-Hazardous Waste (Non-B3), Incident Investigation, and others.
• Risk Management certifications, including: Qualified Risk
Management Professional (QRMP), Certified Risk Professional (CRP),
and Project Risk Management training
• Certification for the Fulfillment of Competencies of Geothermal
Operational Supervisors, including: First-Level Operational
Supervisor Competency Test (POP), Intermediate Operational
Supervisor (POM), and Main Operational Supervisor (POU)
• Fulfillment of ISO certifications
• Certification of Electricity Technical Personnel Competency in the
Generation Sector (HAKIT)
• Project Management certification
• Asset Integrity Management (AIM) certification
• Experts: Geothermal Distribution Pipeline Inspector, Geothermal
Specialist, Reservoir Specialist, Drilling Specialist, etc.
PT Pertamina Geothermal Energy Tbk
Page 157
Laporan Tahunan 2025 | 2025 Annual Report 155
Kategori Penjelasan Jenis Pengembangan Kompetensi
No.
Category Description Type of Competency Development
3 General Program pelatihan yang mendukung • G-Perform(Geothermal Productivity, Engagement, Resilience, and
pengembangan kompetensi Optimization for Maximum Output)
• Negotiation skill
• Business presentation
• Public speaking
• Upskilling menghadapi leadership assessment, dan lain-lain.
Training programs that support • G-Perform (Geothermal Productivity, Engagement, Resilience, and
competency development Optimization for Maximum Output)
• Negotiation skills
• Business presentation
• Public speaking
• Upskilling to prepare for leadership assessment, and others
4 Tugas Belajar Program pembiayaan pendidikan 9 Pekerja Tugas Belajar Luar Negeri Master Degree di Negara Australia,
Study Assignment lanjutan (S2) dalam bentuk beasiswa Swis, Selandia Baru, Amerika Serikat dan Belanda. Dengan jurusan:
bagi pekerja yang telah lolos seleksi • Master of Business Administration (MBA)
tugas belajar. • Master of Earth Science
• Master of Hydrogeology
• Master of Energy
• Master of Science in Mechanical Engineering
• Master Apllied Earth Sciences
• Master of Engineering
Dan 1 Pekerja Tugas Belajar dalam Negeri di Universitas Pertamina
dengan jurusan Magister Sains Sustainability.
Advanced education funding program 9 employees participated in overseas master’s degree study
(Master’s degree) in the form of assignments in Australia, Switzerland, New Zealand, the United States,
scholarships for employees who have and the Netherlands, with the following fields of study:
passed the study assignment selection. • Master of Business Administration (MBA)
• Master of Earth Science
• Master of Hydrogeology
• Master of Energy
• Master of Science in Mechanical Engineering
• Master of Applied Earth Sciences
• Master of Engineering
And 1 employee participated in a domestic study assignment at
Universitas Pertamina, majoring in Master of Science in Sustainability.
Pada tahun 2025, Perseroan membiayai beasiswa tugas belajar In 2025, the Company funded overseas study scholarships for 9
luar negeri kepada 9 (sembilan) pekerja PGE dan tugas belajar (nine) PGE employees and domestic study assignments for 1 PGE
dalam negeri kepada 1 pekerja PGE. Sedangkan jumlah pelatihan employee. Meanwhile, the total number of training programs
yang diselenggarakan mencapai 238 judul pembelajaran, baik conducted reached 238 learning titles, delivered both offline and
yang diselenggarakan secara offline maupun online, dengan online, with an average of 4 training programs per employee.
rata-rata pelatihan per pekerja mencapai 4 pelatihan/pekerja.
Penjelasan lebih lengkap terkait pengembangan kompetensi A more detailed explanation regarding employee competency
pekerja terdapat pada Laporan Keberlanjutan PGE 2025. development is presented in the PGE 2025 Sustainability Report.
Pelatihan Tahun 2025
Training Programs in 2025
Jumlah Pekerja Dilatih Jumlah Jam Pelatihan Pekerja Rata-rata Jam Pelatihan Pekerja
Berdasarkan Gender Berdasarkan Gender Berdasarkan Gender
Jabatan Number of Employees Number of Employees’ Employees’ Average
Position Trained Based on Gender Training Hours Based on Gender Training Hours Based on Gender
Laki-laki Perempuan Jumlah Laki-laki Perempuan Jumlah Laki-laki Perempuan Jumlah
Male Female Total Male Female Total Male Female Total
Manajemen
105 26 131 8.960 2.504 11.464 85 96 88
Management
Asisten Manager
73 12 85 8.376 752 9.128 115 63 107
Assistant Manager
Staf
318 33 351 18.594 2.488 21.072 58 75 60
Staff
Jumlah
496 71 567 35.920 5.744 41.664 72 81 73
Total
PT Pertamina Geothermal Energy Tbk
Page 158
156 Laporan Tahunan 2025 | 2025 Annual Report
Biaya Pengembangan Kompetensi Employees Competency Development
Pekerja Cost
Sepanjang tahun 2025, Perseroan mengalokasikan dan Throughout 2025, the Company allocated and realized
merealisasikan anggaran sebesar Rp26,72 miliar untuk a budget of Rp26.72 billion for employee training and education,
pelatihan dan pendidikan pekerja, lebih tinggi 103% dari representing an increase of 103% compared to the previous
tahun sebelumnya yang sebesar Rp13,58 miliar. Kenaikan year’s Rp13.58 billion. This increase was driven by the expansion
ini disebabkan adanya peningkatan dan intensifikasi fokus and intensification of the Company’s learning programs, aimed
program-program pembelajaran Perseroan, dengan tujuan at further accelerating employee competency development
untuk lebih mengakselerasi pengembangan kompetensi Pekerja to support the achievement of the Company’s optimistic targets
guna mendukung pencapaian target optimis Perusahaan sesuai as set out in the Corporate Long-Term Plan (RJPP).
Rencana Jangka Panjang Perusahaan (RJPP).
Mencetak Pemimpin Panas Bumi Masa Creating High-Quality Future Leaders
Depan yang Berkualitas
Perseroan telah memiliki program untuk melahirkan pemimpin The Company has established programs to develop future
masa depan dengan pekerja berkualitas, baik di lingkungan personal with high-quality talent, both within the NRE Subholding
Subholding NRE maupun Pertamina Group. Untuk tujuan and the Pertamina Group. For this purpose, the Company equips
tersebut, Perseroan membekali pekerja melalui pelatihan dan employees through training and competency development
pengembangan kompetensi terkait dengan 2 (dua) hal, yakni focused on 2 (two) areas, namely G-Elevate, which focuses
G-Elevate yang fokus pada keahlian teknis dan G-Leader terkait on technical expertise, and G-Leader, which focuses
bidang kepemimpinan. Kedua program ini telah direalisasikan on leadership. Both programs have been implemented since
sejak tahun 2024. 2024.
G-Elevate G-Elevate
Geothermal Energy Knowledge and Technology Based Geothermal Energy Knowledge and Technology Based
Advancement Certification (G-Elevate) merupakan program Advancement Certification (G-Elevate) is an intensive certified
pelatihan intensif bersertifikasi yang bertujuan untuk training program which aims to improve workers’ capabilities in
meningkatkan kapabilitas Pekerja terkait praktik terbaik industri line with best practices in the geothermal industry and to provide
panas bumi serta memberikan akses pembelajaran langsung direct access to learning from leading international geothermal
dari para pakar panas bumi terkemuka di tingkat internasional. experts. This program is organized through collaboration
Program ini diselenggarakan melalui kerja sama antara PGE, between PGE, Pertamina University (UPer), and the University
Universitas Pertamina (UPer), dan University of Auckland (UoA). of Auckland (UoA).
G-Elevate juga memberikan kurikulum berbasis sustainability, G-Elevate also provides a curriculum based on sustainability,
green energy dan nature based solution untuk pengembangan green energy, and nature-based solutions for clean energy
energi bersih. Kredit program pelatihan G-Elevate diakui untuk development. Credits earned from the G-Elevate training program
pendidikan lanjutan program master di UoA maupun Uper. are recognized for further education at the master’s degree
Pelatihan yang berjalan selama 5 (lima) bulan ini mensyaratkan level at UoA and Uper. This 5 (five)-month training program
pekerja PGE untuk memiliki gelar BSC Science atau Engineering, requires PGE employees to hold a Bachelor of Science degree
International English Language Testing System (IELTS) skor 6,5, or an Engineering degree, have an International English Language
dan visa pelajar di Selandia Baru. Testing System (IELTS) score of 6.5, and possess a student visa for
New Zealand.
Pada tahun 2025, terdapat 7 (tujuh) Pekerja yang mengikuti In 2025, 7 employees participated in G-Elevate training,
pelatihan G-Elevate di antaranya 3 (tiga) Pekerja berasal dari including 3 from the Exploration function, 2 from the Operation
Fungsi Exploration, 2 (dua) Pekerja dari Fungsi Operation & Engineering function, 1 from the Operation Area function,
& Engineering, 1 (satu) Pekerja dari Fungsi Operation Area, dan and 1 from the Strategic Planning and Sustainability function.
1 (satu) Pekerja dari Fungsi Strategic Planing dan Sustainability.
G-Leaders G-Leaders
Geothermal Leadership Empowerment and Development Geothermal Leadership Empowerment and Development
for Enhanced Resilience and Success (G-Leader) merupakan for Enhanced Resilience and Success (G-Leader) is a program
program yang dibuat untuk melengkapi program kepemimpinan designed to complement leadership programs and mandatory
mandatory yang ada di Perseroan. requirements in the Company.
PT Pertamina Geothermal Energy Tbk
Page 159
Laporan Tahunan 2025 | 2025 Annual Report 157
Dengan berfokus kepada 14 kompetensi Performance Leader By focusing on 14 Performance Leader Competencies (PLC) and
Competencies (PLC) dan kompetensi Primary Executive Leader Primary Executive Leader Competencies (ELC), the G-Leaders
(ELC), program G-Leaders mempersiapkan pekerja PGE untuk program prepares PGE employees to become the next leaders
menjadi pemimpin selanjutnya (the next leader) dan suksesor and successors at the manager level and above.
level manajer ke atas.
G-Leaders mengombinasikan metode classroom workshop, G-Leaders combines classroom workshops, competency coaching,
coaching competencies, project auction learning dengan durasi and project auction learning, with a program duration of 5 (five)
program selama 5 (lima) bulan. Pekerja yang dapat mengikuti months. Eligible participants are employees at PRL 16–18, with
program adalah pekerja PRL 16-18, berusia maksimal 45 tahun, a maximum age of 45 years, and are prioritized from the talent
dan diutamakan berasal dari talent pool serta sedang tidak pool, provided they are not currently participating in long-term
mengikuti program mandatory yang bersifat jangka panjang. mandatory programs.
Pada tahun 2025, terdapat 25 orang pekerja yang mengikuti In 2025, a total of 25 employees participated in this program.
program ini.
Dukungan Kesehatan Mental Mental Health Support
Perseroan telah mengimplementasikan program Geothermal The company has implemented the Geothermal Productivity,
Productivity, Engagement, Resilience, and Optimization for Engagement, Resilience, and Optimization for Maximum
Maximum Output (G-Perform) sebagai inisiatif penguatan Output (G-Perform) program as an initiative to strengthen
budaya kinerja yang selaras dengan dukungan terhadap mental a performance culture that is aligned with supporting mental
wellness dan peningkatan engagement Pekerja. Program ini wellness and increasing employee engagement. This program
bertujuan untuk mendorong peningkatan produktivitas secara aims to encourage sustainable productivity improvements through
berkelanjutan melalui berbagai kegiatan, mulai dari sharing various activities, ranging from sharing sessions to psychological
session hingga psychological conversing oleh Psikolog. counseling.
Dalam pelaksanaannya, Perseroan bekerja sama dengan In its implementation, the Company collaborates with the Research
Research of Community Mental Health Initiative (RoCMHI), yakni of Community Mental Health Initiative (RoCMHI), a Community
Kelompok Riset Kesehatan Mental Komunitas Fakultas Psikologi, Mental Health Research Group under the Faculty of Psychology,
Universitas Indonesia. Universitas Indonesia.
Rencana dan Anggaran Pengembangan Plan and Budget for Employees
Kompetensi Pekerja 2026 Competency Development 2026
Perseroan akan tetap berkomitmen untuk meningkatkan kualitas The Company remains committed to improving the quality
sumber daya manusia melalui berbagai program pengembangan of human resources through various planned and sustainable
kompetensi yang terencana dan berkesinambungan di tahun competency development programs in 2026. The plan includes
2026. Rencana tersebut mencakup pelaksanaan training the implementation of mandatory training (HSSE & leadership),
mandatory (HSSE & leadership), sertifikasi, pembekalan certification, assessment provision, and PGE’s specific employee
assessment, dan program pengembangan Pekerja khas PGE development programs (G-Leaders, G-Energyzer, G-Perform,
(G-Leaders, G-Energyzer, G-Perform, G-Project, dan Executive G-Project, and Executive Coaching).
Coaching).
Untuk mendukung pelaksanaan program tersebut, pada tahun To support the implementation of this program, in 2026
2026 Perseroan telah mengalokasikan anggaran pengembangan the Company allocated Rp32 billion for competency development
kompetensi sebesar Rp32 miliar sebagai bagian dari investasi as part of its long-term investment in enhancing employee
jangka panjang dalam peningkatan kapabilitas pekerja capabilities.
Penilaian Kinerja Performance Assessment
Perseroan melaksanakan proses penilain Kinerja Pekerja The Company conducts employee performance assessments
melalui sistem penilaian People Review secara berkala through a periodic People Review system as part of its strategic
sebagai bagian dari pengelolaan SDM yang strategis dan and sustainable human capital management. The process
berkelanjutan, dilakukan secara digital dan terintegrasi dengan is carried out digitally and in an integrated manner, emphasizing
PT Pertamina Geothermal Energy Tbk
Page 160
158 Laporan Tahunan 2025 | 2025 Annual Report mengedepankan pendekatan berbasis kinerja serta implementasi a performance-based approach and the implementation tata nilai Perusahaan. Proses penilaian dilaksanakan secara of the Company’s core values. Evaluations are conducted komprehensif melalui metode 360-degree feedback yang comprehensively using a 360-degree feedback method, mencakup evaluasi dari atasan, rekan kerja, dan bawahan incorporating input from supervisors, peers, and subordinates guna memastikan objektivitas dan akurasi. Selain itu, Perseroan to ensure objectivity and accuracy. In addition, the Company menerapkan prinsip forced distribution melalui kalibrasi kurva applies a forced distribution approach through normal curve (bell normal (bell curve) dalam penentuan nilai kinerja akhir tahun, curve) calibration in determining year-end performance ratings untuk membedakan tingkat kinerja secara adil, mencegah inflasi to differentiate performance levels fairly, prevent rating penilaian, serta memastikan distribusi hasil evaluasi yang objektif inflation, and ensure an objective and standardized distribution dan terstandarisasi. Hasil People Review dimanfaatkan sebagai of evaluation results. The outcomes of the People Review serve dasar dalam perencanaan pengembangan pekerja, termasuk as the basis for employee development planning, including the penyusunan program pelatihan dan penugasan (assignment), design of training programs and assignments, enabling the sehingga Perseroan dapat memastikan ketersediaan SDM Company to ensure the availability of competent and adaptive berkompeten yang adaptif dan siap mendukung pencapaian talent to support the achievement of its business strategy and strategi bisnis serta keberlanjutan Perusahaan long-term sustainability. Hasil penilaian selain salah satu menjadi penentu promosi In addition to determining promotions and career advancements, kenaikan jabatan, juga menjadi dasar bagi Perseroan dalam the assessment results also serve as the basis of the Company menentukan kebutuhan pengembangan dan pelatihan, optimasi in identifying development and training needs, optimizing penempatan pekerja, hingga pemberian penghargaan. Penilaian employee placements, and awarding recognition. kinerja tahun 2025 telah dilakukan terhadap seluruh pekerja The performance assessment for 2023 has been conducted PGE, dan mendorong peningkatan jumlah promosi jabatan 23% for all PGE employees, resulting in a 23% increase in the number pekerja. of job promotions. PROGRAM BUDAYA LIVING CORE VALUES LIVING CORE VALUES (LCV) AKHLAK (LCV) AKHLAK PROGRAM Living Core Values (LCV) AKHLAK adalah upaya leader Pertamina The Living Core Values (LCV) AKHLAK program reflects group sebagai role model untuk melakukan internalisasi tata the commitment of Pertamina Group leaders to act as role models nilai utama AKHLAK dan memastikan seluruh pekerja dan mitra in internalizing the AKHLAK core values and ensuring that all kerja di fungsinya memahami serta menjalankannya secara employees and business partners within their respective functions menyeluruh dalam pekerjaannya masing-masing. fully understand and consistently apply these values in their work. Untuk memastikan program berjalan dengan baik, digunakan To ensure effective implementation, Performance Leading Performance Leading Indicator sebagai parameter yang Indicators are used as parameters to measure the execution digunakan untuk mengukur implementasi program budaya LCV of the LCV AKHLAK culture program.. AKHLAK. KEBEBASAN BERSERIKAT FREEDOM OF ASSOCIATION Dalam rangka menjamin hak kebebasan berserikat sesuai In order to guarantee the right to freedom of association ketentuan peraturan perundang-undangan, Perseroan in accordance with the provisions of laws and regulations, memfasilitasi keberadaan Serikat Pekerja Pertamina Geothermal the Company facilitates the existence of the Pertamina Geothermal Energy (SPPGE) yang berdiri sejak 22 Februari 2010 sebagai Energy Workers Union (SPPGE), which was established mitra strategis dalam membangun hubungan industrial yang on 22 February 2010, as a strategic partner in building harmonis, dinamis, dan berkeadilan. harmonious, dynamic, and equitable industrial relations. Perseroan dan Serikat Pekerja Pertamina Geothermal Energy The Company and Pertamina Geothermal Energy Labor Union (SPPGE) telah menyepakati Perjanjian Kerja Bersama (PKB) (SPPGE) have agreed on a Collective Labor Agreement (PKB) yang mengatur hak dan kewajiban Perseroan serta Pekerja that regulates the rights and obligations of the Company dalam hubungan kerja. PKB tersebut telah mendapat and its employees in their working relationship. This CLA pengesahan dari Kementerian Tenaga Kerja Republik has been officially approved by the Ministry of Manpower Indonesia melalui Keputusan Direktur Jenderal Pembinaan of the Republic of Indonesia through Decision of the Director- Hubungan Industrial dan Jaminan Sosial Tenaga Kerja Nomor General of Industrial Relations and Labor Social Security Nomor KEP.4/HI.00.01/00.0000.26015008/B/I/2026. KEP.4/HI.00.01/00.0000.26015008/B/I/2026. PT Pertamina Geothermal Energy Tbk
Page 161
Laporan Tahunan 2025 | 2025 Annual Report 159
KEBIJAKAN KESEHATAN DAN OCCUPATIONAL HEALTH AND SAFETY
KESELAMATAN KERJA POLICY
PGE menempatkan Kesehatan dan Keselamatan Kerja (K3) PGE places Occupational Health and Safety (OHS) as a top
sebagai prioritas utama untuk melindungi pekerja serta priority to protect employees and to create a safe and healthy
menciptakan lingkungan kerja yang aman serta sehat. Untuk itu, working environment. To this end, PGE implements a Health,
PGE menerapkan Sistem Manajemen Health, Safety, Security, Safety, Security, and Environment (HSSE) Management System
and Environment (HSSE) di seluruh area operasional, dengan across all operational areas, with a commitment to the zero
komitmen terhadap prinsip zero accident untuk meminimalkan accident principle to minimize negative impacts arising from
dampak negatif dari kegiatan operasional. operational activities.
Sistem Manajemen HSSE (SMHSSE) berlaku tidak hanya untuk The HSSE Management System (SMHSSE) applies not only to PGE
pekerja PGE, tetapi juga bagi mitra kerja seperti kontraktor dan employees, but also to business partners such as contractors and
penyedia barang serta jasa. Program pengawasan pelaksanaan suppliers of goods and services. HSSE implementation oversight
kerja HSSE mencakup kegiatan seperti Management Walk programs include activities such as Management Walk Through
Through dan Safety Walk and Talk (SWAT), dan dialog HSSE and Safety Walk and Talk (SWAT), as well as HSSE dialogues with
bersama Direksi untuk menunjukkan komitmen manajemen the Board of Directors to demonstrate management’s commitment
terhadap pelaksanaan HSSE di seluruh aktivitas operasional. to HSSE implementation across all operational activities.
Penerapan SMHSSE mengacu pada Permen ESDM No. 33 Tahun The implementation of SMHSSE refers to Regulation of the Minister
2021 tentang K3, Perlindungan dan Pengelolaan Lingkungan of Energy and Mineral Resources (ESDM) No. 33 of 2021
Hidup, serta Kaidah Teknis Panas Bumi untuk Pemanfaatan on Occupational Health and Safety, Environmental Protection
Tidak Langsung. Sebagai bagian dari manajemen risiko, PGE and Management, and Geothermal Technical Principles
juga mengimplementasikan Geothermal Integrated Management for Indirect Utilization. As part of risk management, PGE also
System yang terintegrasi dengan SUPREME (Sustainability implements the Geothermal Integrated Management System,
Pertamina Expectations for HSSE Management Excellence). which is integrated with SUPREME (Sustainability Pertamina
Expectations for HSSE Management Excellence).
SUPREME adalah sistem manajemen yang mengintegrasikan SUPREME is a management system that integrates world-class
praktik-praktik HSSE terbaik berkelas dunia secara terstruktur dan HSSE best practices in a structured and systematic manner
sistematis pada tingkat Korporat, Direktorat, Unit Operasi, dan at the Corporate, Directorate, Operating Unit, and Pertamina
Anak Perusahaan Pertamina. Sistem ini bertujuan memastikan Subsidiary levels. This system aims to ensure that HSSE
bahwa implementasi HSSE mendukung keberlanjutan bisnis, implementation supports business sustainability, manages risks
mengelola risiko secara efektif, dan membantu pencapaian effectively, and contributes to the achievement of business, HSSE,
target bisnis, HSSE, dan target Pertamina lainnya (KPI, sasaran, and other Pertamina targets (KPIs, objectives, and/or other
dan/atau target lainnya). targets).
Penerapan SUPREME juga mengacu pada pemenuhan peraturan The implementation of SUPREME also refers to compliance with
perundang-undangan yang berlaku seperti Sistem Manajemen applicable laws and regulations, including the Occupational
Keselamatan dan Kesehatan Kerja (SMK3), Sistem Manajemen Health and Safety Management System (SMK3), the Security
Pengamanan (SMP) berdasarkan Peraturan Kapolri (Perkap) Management System (SMP) based on National Police Regulation
24/2027 dan PROPER (Program Penilaian Peringkat Kinerja (Perkap) No. 24/2017, and PROPER (Public Disclosure Program
Perusahaan dalam Pengelolaan Lingkungan) Kementerian for Environmental Compliance) of the Ministry of Environment and
Lingkungan Hidup dan Kehutanan (KLHK) serta standar sistem Forestry, as well as international management system standards
manajemen internasional seperti ISO 9001, ISO 14001, ISO such as ISO 9001, ISO 14001, ISO 26000, ISO 27001,
26000, ISO 27001, ISO 28000, ISO 31000, ISO 39001, ISO ISO 28000, ISO 31000, ISO 39001, ISO 45001, ISO 50001,
45001, ISO 50001, dan standar lainnya. and other relevant standards.
Perseroan juga mengelola risiko HSSE melalui Risk Register The Company also manages HSSE risks through a Risk Register
untuk risiko bisnis perusahaan dan Hazard Identification Risk for corporate business risks and through Hazard Identification,
Assessment and Determining Control (HIRADC) dan Health Risk Assessment, and Determining Control (HIRADC) as well
Risk Assessment untuk risiko operasional. Selain itu, Perseroan as Health Risk Assessment for operational risks. In addition,
menerapkan manajemen keselamatan proses & integritas aset the Company implements process safety and asset integrity
untuk mencegah potensi kejadian katastropik yang mungkin management to prevent potential catastrophic events that may
muncul dari kegagalan proses dan peralatan. arise from process and equipment failures.
PT Pertamina Geothermal Energy Tbk
Page 162
160 Laporan Tahunan 2025 | 2025 Annual Report Sebagai sistem pengelolaan aspek kesehatan, keselamatan kerja, As part of the management system for health, occupational safety, keamanan, dan lingkungan Perseroan menerapkan Contractor security, and environmental aspects, the Company implements Safety Management System (CSMS) untuk penyedia barang dan a Contractor Safety Management System (CSMS) for providers jasa. Penerapan CSMS ini bertujuan untuk memastikan pekerjaan of goods and services. The implementation of CSMS aims to kontrak yang dilaksanakan oleh Pelaksana Kontrak sesuai standar ensure that contract work carried out by contractors complies HSSE yang efektif, menyeluruh dan konsisten untuk memitigasi with effective, comprehensive, and consistent HSSE standards to setiap potensi bahaya dan risiko pada pekerjaan terkait. mitigate any potential hazards and risks associated with the work. Sepanjang tahun 2025, PGE dapat mencapai zero fatality Throughout 2025, PGE achieved zero fatality and zero illness dan zero illness fatality. Penjelasan lebih lengkap terkait fatality. A more detailed explanation regarding the development pengembangan Kebijakan Kesehatan dan Keselamatan Kerja of the Occupational Health and Safety Policy is presented in the terdapat pada Laporan Keberlanjutan PGE 2025. PGE 2025 Sustainability Report. TINGKAT KEPUASAN PEKERJA EMPLOYEE SATISFACTION Perseroan melakukan survei kepuasan kerja setiap tahun, yang The Company conducts an employee satisfaction survey annually, dilaksanakan sejak tahun 2015. Kebijakan direalisasikan which has been implemented since 2015. This policy is carried agar Perseroan lebih memahami kebutuhan pekerja, sehingga out to enable the Company to better understand employee needs, dapat merumuskan kebijakan yang selaras dengan kebutuhan so that it can formulate policies aligned with the needs of both perusahaan dan pekerja. Survei mencakup berbagai aspek the Company and employees. The survey covers various aspects, termasuk rekrutmen, pengupahan, pengembangan dan penilaian including recruitment, remuneration, employee development and Pekerja, hubungan industrial dan lain-lain. assessment, industrial relations, and others. Untuk menjaga objektivitas, responden memberikan jawaban To maintain objectivity, respondents provide their responses secara anonim dengan hanya mencantumkan lokasi kerja. Hasil anonymously, indicating only their work location. The 2025 survei tahun 2025 yang berasal dari 285 responden (dari total survey results, based on 285 respondents (out of a total of 558 558 pekerja PWTT pada 2025) menunjukkan skor Employee permanent employees (PWTT) in 2025), recorded an Employee Satisfaction Survey (ESS) tahun 2025 sebesar 4,35 atau Satisfaction Survey (ESS) score of 4.35, representing an 11% meningkat 11% dari 3,92 pada tahun 2024. Hasil ini menjadi increase from 3.92 in 2024. These results serve as the basis dasar evaluasi dan pengembangan strategi divisi Human Capital for evaluating and refining the Human Capital (HC) division’s (HC) pada tahun berikutnya. strategy for the following year. Penjelasan lebih lanjut terkait pengelolaan pekerja PGE dapat Further information regarding the management of PGE employees dilihat pada Laporan Keberlanjutan Perseroan 2025. can be found in the Company’s 2025 Sustainability Report. PT Pertamina Geothermal Energy Tbk
Page 163
Laporan Tahunan 2025 | 2025 Annual Report 161
Digitalisasi dan
Keamanan SIBER
Digitalization and Cyber Security
PT Pertamina Geothermal Energi Tbk (“Perseroan”, “PGE”) PT Pertamina Geothermal Energi Tbk (the “Company” or “PGE”)
memanfaatkan keunggulan teknologi informasi (TI) dan leverages the advantages of information technology (IT) and
digitalisasi dalam menjalankan proses bisnis di lingkungan digitalization in carrying out its business processes across
Perseroan. PGE menyadari bahwa keterlibatan teknologi dan the Company. PGE recognizes the role of technology and
digital untuk menjawab tuntutan proses bisnis yang semakin digitalization in addressing the demands of increasingly fast and
cepat dan efisien. efficient business processes.
Dalam rangka menjaga keandalan fungsi TI tersebut, Perseroan To ensure the reliability of its IT functions, the Company has
telah memiliki “Tata Kelola TI dan Keamanan Siber” yang menjadi established an IT Governance and Cyber Security, which serves
panduan dalam strategi dan implementasinya di PGE. Norma ini as a guideline for the formulation of of strategies and their
ditetapkan untuk memastikan bahwa pengelolaan inisiatif digital implementation at PGE. This norm is designed to ensure that
dalam tiap unit bisnis berjalan secara aman, serta sesuai dengan the management of digital initiatives across all business units is
strategi jangka panjang Perseroan. conducted securely and in alignment with the Company’s long-
term strategy.
TATA KELOLA TI DAN KEAMANAN SIBER IT GOVERNANCE AND CYBER SECURITY
Struktur pengelolaan TI di lingkungan Perseroan berada di bawah The IT management structure within the Company operates
Management Representative Tim Implementasi dan Sertifikasi under the Management Representative of the Implementation
Information Security Management System ISO 27001:2022, and Certification Team for the Information Security Management
yaitu Vice President HC & Business Support. Selanjutnya struktur System ISO 27001:2022, namely the Vice President of HC &
tata kelola TI ini akan melapor secara langsung kepada Direktur Business Support. This IT governance structure reports directly
Utama, sebagai bagian dari proses pengawasan top level. to the President Director as part of the top-level oversight process.
Direktur Utama
President Director
VP HC & Business Support
Manager Digital &
IT Solution
Jr-Sr Analyst I-II
Ast. Manager IT Planning Ast. Manager IT
Automation & Operation
& Business Solution Operation
Technology
Jr-Sr Analyst I-II Geo Jr-Sr Analyst I-II IT Planning Jr-Sr Analyst I-II Network &
Data Management & Governance Communication
Jr-Sr Analyst I-II Jr-Sr Analyst I-II Solution Jr-Sr Analyst I-II Core
Geomatika Development Infrastructure
Jr-Sr Analyst I-II Business
Jr-Sr Analyst I-II Data Jr-Sr Analyst I-II End User
Relation & Change
Warehouse, BI & Analyst Support Operation
Management
Jr-Sr Analyst I-II Cyber Jr-Sr Analyst I-II Solution
Security Maintenance
PT Pertamina Geothermal Energy Tbk
Page 164
162 Laporan Tahunan 2025 | 2025 Annual Report
Strategi Penerapan TI dan Keamanan IT and Cyber Security Implementation
Siber Strategy
Penerapan teknologi untuk mendukung digitalisasi dan menjaga The implementation of technology to support digitalization and
keamanan siber di lingkungan Perseroan mengacu kepada maintain cybersecurity within the Company refers to internationally
panduan berstandar internasional, yakni ISO 27001:2022 NIST recognized guidelines, namely ISO 27001:2022 and the NIST
Cyber Security Framework. Standar sertifikasi mutu ini merupakan Cybersecurity Framework. These certification standards represent
best practice yang banyak digunakan oleh organisasi-organisasi best practices that are widely adopted by organizations around
di seluruh dunia. the world.
Proses yang diterapkan dalam implementasi TI di lingkungan The processes applied in the implementation of IT within PGE
PGE mencakup: identifikasi-perlindungan-deteksi-tanggapan- cover the following stages: identification-protection-detection-
pemulihan. response-recovery.
Pemanfaatan teknologi oleh PGE, terutama bertujuan untuk The utilization of technology by PGE is primarily aimed
melindungi data Perseroan serta data para pihak yang at protecting the Company’s data as well as the data of parties
menggunakan sistem Perseroan seperti pekerja, vendor, dan using the Company’s systems, including employees, vendors, and
mitra kerja Perseroan. Perlindungan data para pihak yang business partners. The protection of data belonging to parties
menggunakan sistem Perseroan, sejalan dengan Undang-undang using the Company’s systems is carried out in line with Law
Perlindungan Data Pribadi Nomor 27 Tahun 2022. No. 27 of 2022 on Personal Data Protection.
Identifikasi
Identification
• Pedoman Keamanan Informasi
Information Security Code
• Sertifikasi ISO 27001:2022
ISO 27001:2022 Certification
• Penetration Testing
Pelindungan
Tanggapan
Protect
Respond
• Antivirus
• Penetration Testing
• Next Generation Firewall
• Table Top Drill
• Multi Factor Authentification
• Backup & Restore System
• Backup & Restore System
• SDWAN
NIST
Cyber Security
Pemulihan Deteksi
Recover Detect
• Backup & Restore System • Penetration Testing
• Penetration Testing • Tools Monitoring Asset
PT Pertamina Geothermal Energy Tbk
Page 165
Laporan Tahunan 2025 | 2025 Annual Report 163
Penerapan dan Peningkatan Kesadaran Implementation and Raised Cyber
Keamanan Siber Security Awareness
Sepanjang tahun 2025, Perseroan telah menerapkan berbagai Throughout 2025, the Company implemented various digital
langkah pengamanan digital. Bagi PGE, keamanan data menjadi security measures. For PGE, data security is a priority, which
prioritas yang dilakukan melalui penerapan strategi pertahanan is addressed through the implementation of a layered defense
berlapis, meliputi: strategy, comprising:
a. Perlindungan Data & Akses: Implementasi Data Loss a. Data Protection & Access: The implementation of Data
Prevention (DLP) untuk mencegah kebocoran informasi Loss Prevention (DLP) to prevent the leakage of sensitive
sensitif, serta Privileged Access Management (PAM) dan information, as well as Privileged Access Management
Access Control Lists (ACLs) untuk kendali akses ketat pada (PAM) and Access Control Lists (ACLs) to enforce strict access
area kritis. controls in critical areas.
b. Monitoring & Respons Canggih: Pemanfaatan b. Advanced Monitoring & Response: The utilization of
Extended Endpoint Detection and Response (EDR), SIEM Extended Endpoint Detection and Response (EDR), AI-based
berbasis AI untuk deteksi ancaman real-time, serta System SIEM for real-time threat detection, and Security Orchestration,
Orchestra Automation Respond (SOAR) untuk otomatisasi Automation, and Response (SOAR) to automate incident
respons insiden. response.
c. Kepatuhan SMKI: Pelaksanaan Surveillance ISO c. ISMS Compliance: The regular conduct of ISO 27001:2022
27001:2022 secara berkala untuk memastikan efektivitas surveillance audits to ensure that the effectiveness of the
Sistem Manajemen Keamanan Informasi tetap memenuhi Information Security Management System continues to comply
persyaratan standar. with applicable standard requirements.
Perseroan juga melakukan sosialisasi untuk mendukung keandalan The Company also carried out socialization to support the
penerapan TI. Untuk tahun 2025, realisasinya diuraikan melalui reliability of IT implementation. In 2025, the realization of these
tabel di bawah ini. initiatives is presented in the table below.
Sosialisasi TI pada 2025 Keterangan
No.
IT Dissemination in 2025 Description
Training Awareness Integrated Management System (IMS) ISO 9001,14001, 45001 Batch I 13-14 Januari 2025
1
Integrated Management System (IMS) ISO 9001, ISO 14001, ISO 45001 Awareness Training – Batch I 13-14 January 2025
Training Awareness Integrated Management System (IMS) ISO 9001,14001, 45001 Batch II 16-17 Januari 2025
2
Integrated Management System (IMS) ISO 9001, ISO 14001, ISO 45001 Awareness Training – Batch II 16-17 January 2025
Training Awareness Sistem Manajemen Laboratorium 17025:2017 23 Juni 2025
3
Laboratory Management System ISO/IEC 17025:2017 Awareness Training 23 June 2025
Training Awareness Sistem Manajemen Anti Penyuapan (SMAP) ISO 37001 21 Januari 2025
4
Anti-Bribery Management System (ABMS) ISO 37001 Awareness Training 21 January 2025
Training Awareness Business Continuity Management System ISO 22301:2019 12 Februari 2025
5
Business Continuity Management System ISO 22301:2019 Awareness Training 12 February 2025
Training Awareness Sistem Manajemen Keamanan Informasi (SMKI) ISO 27001 10 Juni 2025
6
Information Security Management System (ISMS) ISO 27001 Awareness Training 10 June 2025
Training Awareness Sistem Manajemen Layanan Teknologi Informasi (SMLTI) ISO 20000-1:2018 12 Juni 2025
7
Information Technology Service Management System (ITMS) ISO 20000-1:2018 Awareness Training 12 June 2025
Mekanisme Identifikasi terhadap Disruption Identification Mechanism
Disrupsi
Perseroan telah memiliki mekanisme identifikasi disrupsi yang The Company has established a structured and well-documented
terstruktur dan terdokumentasi melalui penerapan Disruptive disruption identification mechanism through the implementation
Risk Assessment (DRA) dan Business Impact Analysis (BIA) pada of Disruptive Risk Assessment (DRA) and Business Impact
seluruh proses bisnis Digital & IT Solution. Proses identifikasi Analysis (BIA) across all Digital & IT Solution business processes.
dilakukan terhadap berbagai potensi gangguan, baik yang The identification process covers various potential disruptions,
berasal dari bencana alam maupun non-alam, seperti kegagalan whether arising from natural disasters or non-natural events, such
teknologi dan sistem, serangan siber, kegagalan infrastruktur, as technology and system failures, cyberattacks, infrastructure
hingga gangguan data dan aplikasi kritikal. failures, as well as disruptions to critical data and applications.
Proses identifikasi disrupsi dimulai dengan pemetaan risk The disruption identification process begins with the mapping
event dan risk cause pada setiap proses bisnis,. Pemetaan ini of risk events and risk causes for each business process. This
dilengkapi dengan penilaian dampak kuantitatif dan kualitatif, mapping is complemented by quantitative and qualitative impact
PT Pertamina Geothermal Energy Tbk
Page 166
164 Laporan Tahunan 2025 | 2025 Annual Report
probabilitas kejadian, serta perhitungan Risk Priority Number assessments, the probability of occurrence, and the calculation
(RPN). Selanjutnya, fungsi Digital & IT Solution menetapkan of the Risk Priority Number (RPN). Subsequently, the Digital
kontrol yang telah ada (existing control) seperti penerapan & IT Solution function determines existing controls, including
Security Operation Center (SOC), sistem backup & restore, the implementation of a Security Operations Center (SOC),
penetration test berkala, early warning system, serta kebijakan backup and restore systems, periodic penetration testing, early
dan SOP keamanan informasi. warning systems, as well as information security policies and
SOPs.
Hasil identifikasi ini digunakan untuk menentukan proses bisnis The results of this identification process are used to determine
yang berdampak penting dan kritikal, termasuk penetapan business processes with significant and critical impacts, including
Maximum Tolerable Period of Disruption (MTPD), Recovery Time the establishment of the Maximum Tolerable Period of Disruption
Objective (RTO), dan Recovery Point Objective (RPO). Dengan (MTPD), Recovery Time Objective (RTO), and Recovery Point
demikian, Perseroan memiliki gambaran yang jelas mengenai Objective (RPO). Accordingly, the Company has a clear overview
tingkat risiko dan prioritas penanganan disrupsi. of its risk levels and priorities in managing disruptions.
Strategi/Proses Pemulihan Bencana Disaster Recovery Strategy and
Processes
Strategi dan proses pemulihan bencana pada fungsi Digital The disaster recovery strategy and processes within the Digital & IT
& IT Solution telah disusun secara sistematis melalui Business Solution function have been systematically developed through the
Continuity Plan (BCP) dan Disaster Recovery Plan (DRP) yang Business Continuity Plan (BCP) and Disaster Recovery Plan (DRP),
mengacu pada hasil BIA dan DRA. Proses pemulihan dirancang with reference to the results of the BIA and DRA. The recovery
untuk memastikan layanan TI dan proses bisnis kritikal dapat process is designed to ensure that IT services and critical business
dipulihkan dalam kerangka waktu RTO yang telah ditetapkan. processes can be restored within the established RTO timeframe.
Tahapan pemulihan bencana meliputi: The stages of disaster recovery include:
1. Identifikasi dan analisis insiden, termasuk penilaian dampak 1. Incident identification and analysis, including the assessment
terhadap layanan, data, dan infrastruktur. of impacts on services, data, and infrastructure.
2. Koordinasi internal dan eksternal, baik dengan tim internal 2. Internal and external coordination, both with PGE’s internal
PGE maupun fungsi ICT PT Pertamina (Persero) dan mitra teams and with the ICT function PT Pertamina (Persero) and
terkait. relevant partners.
3. Aktivasi strategi pemulihan, seperti penggunaan Disaster 3. Activation of recovery strategies, such as the use of a Disaster
Recovery Center (DRC), pemulihan data dari backup, aktivasi Recovery Center (DRC), data recovery from backups,
infrastruktur cadangan, serta penggunaan link jaringan activation of backup infrastructure, and the use of alternative
alternatif. network links.
4. Proses pemulihan dan monitoring, untuk memastikan 4. Recovery and monitoring processes, to ensure data integrity,
integritas data, keamanan sistem, dan stabilitas layanan. system security, and service stability.
5. Pemulihan layanan ke kondisi normal, disertai verifikasi 5. Restoration of services to normal conditions, accompanied
kepada pengguna. by verification with users.
Seluruh strategi dan prosedur pemulihan ini telah diselaraskan All recovery strategies and procedures have been aligned
dengan standar ISO 22301: Business Continuity Management with ISO 22301: Business Continuity Management System,
System, dan perusahaan telah tersertifikasi ISO 22301 oleh TUV and the Company has obtained ISO 22301 certification from TÜV
Rheinland Indonesia, sebagai bukti komitmen perusahaan dalam Rheinland Indonesia, as evidence of the Company’s commitment
memastikan kesiapan, ketahanan, dan keberlanjutan operasional to ensuring preparedness, resilience, and operational continuity
terhadap berbagai skenario bencana dan disrupsi. across various disaster and disruption scenarios.
Sistem/Mekanisme Pelaporan kepada Reporting System/Mechanism to the
Direksi Board of Directors
Perusahaan telah menetapkan mekanisme pelaporan yang jelas The Company has established a clear and tiered reporting
dan berjenjang dalam menangani disrupsi dan pelaksanaan mechanism for managing disruptions and the implementation
pemulihan bencana. Setiap kejadian disrupsi dicatat melalui form of disaster recovery. Each disruption incident is recorded through
pelaporan insiden, yang memuat informasi kronologi kejadian, an incident reporting form, which includes information on the
dampak, tindakan penanganan, serta progres pemulihan. chronology of the incident, its impacts, mitigation actions taken,
and recovery progress.
PT Pertamina Geothermal Energy Tbk
Page 167
Laporan Tahunan 2025 | 2025 Annual Report 165
Tim Business Continuity Plan (BCP) bersama fungsi Digital & IT The Business Continuity Plan (BCP) Team, together with the Digital
Solution secara berkala menyusun laporan status penanganan & IT Solution function, periodically prepares status reports on
dan pemulihan, yang disampaikan kepada manajemen terkait. handling and recovery efforts, which are submitted to the relevant
Untuk insiden dengan dampak signifikan atau yang berpotensi management. For incidents with significant impact or those that
mempengaruhi keberlangsungan bisnis perusahaan, laporan have the potential to affect the Company’s business continuity,
eskalasi disampaikan kepada Direksi melalui jalur manajemen escalation reports are submitted to the Board of Directors through
yang telah ditetapkan. the established management channels.
Pelaporan kepada Direksi mencakup: Reporting to the Board of Directors includes:
1. Ringkasan kejadian dan dampaknya terhadap operasional. 1. A summary of the incident and its impact on operations.
2. Status layanan dan capaian RTO/RPO. 2. Service status and the achievement of RTO/RPO.
3. Tindakan pemulihan yang telah dan sedang dilakukan. 3. Recovery actions that have been and are being undertaken.
4. Risiko residual dan rekomendasi perbaikan berkelanjutan. 4. Residual risks and recommendations for continuous
improvement.
Mekanisme pelaporan ini untuk memastikan Direksi memperoleh This reporting mechanism is intended to ensure that the Board
informasi yang akurat, tepat waktu, dan komprehensif sebagai of Directors receives accurate, timely, and comprehensive
dasar pengambilan keputusan strategis, sekaligus mendukung information as a basis for strategic decision-making, while also
prinsip tata kelola perusahaan yang baik (Good Corporate supporting the principles of Good Corporate Governance.
Governance).
INISIATIF STRATEGIS DI BIDANG STRATEGIC INITIATIVES IN INFORMATION
TEKNOLOGI INFORMASI TECHNOLOGY
Realisasi inisiatif strategis yang dilaksanakan PGE sepanjang The realization of strategic initiatives implemented by PGE
tahun 2025, antara lain mencakup: throughout 2025 included, among others, the following:
1. Tata Kelola, Standardisasi, dan Manajemen 1. Governance, Standardization, and Quality
Kualitas Management
PGE berkomitmen menjaga keunggulan layanan melalui PGE is committed to maintaining service excellence through
implementasi komprehensif Geothermal Integrated the implementation of the Geothermal Integrated Management
Management System yang mencakup berbagai standar System, which covers various international standards such
internasional seperti ISO 9001, 14001, 45001, 22301, as ISO 9001, ISO 14001, ISO 45001, ISO 22301, ISO
37001, serta ISO 17025 khusus untuk laboratorium. 37001, as well as ISO 17025 specifically for laboratory
Perusahaan memastikan keberlanjutan mutu melalui activities. The Company ensures quality sustainability through
Surveillance ISO 20000-1:2018 untuk manajemen layanan ISO 20000-1:2018 Surveillance for IT service management
TI dan survei kepuasan layanan online guna mengukur and online service satisfaction surveys to measure the
efektivitas fungsi IT. Selain itu, aspek kepatuhan diperkuat effectiveness of IT functions. In addition, compliance aspects
melalui pemenuhan peraturan, prosedur, hasil audit, serta are strengthened through the fulfillment of regulations,
penguatan budaya inovasi melalui Forum Presentasi CIP, procedures, audit results, as well as the strengthening of an
audit program CIP, koordinasi Sharing Knowledge, dan innovation culture through the CIP Presentation Forum, CIP
pengelolaan aset pengetahuan Perusahaan. program audits, Sharing Knowledge coordination, and the
management of the Company’s knowledge assets.
2. Infrastruktur Digital dan Jaringan Konektivitas 2. Digital Infrastructure and Network Connectivity
Transformasi infrastruktur difokuskan pada penguatan Infrastructure transformation is focused on strengthening the
fundamental melalui Peningkatan kapasitas server dan cloud fundamentals through increasing server and cloud capacity
untuk menjaga relevansi dan keamanan teknologi. Di sisi to maintain technological relevance and security. On the
konektivitas, PGE melakukan Implementasi dan monitoring connectivity side, PGE carried out the implementation and
standardisasi perangkat network di seluruh area operasi monitoring of standardized network devices across all
agar tercipta lingkungan jaringan yang efisien dan stabil. operational areas to create an efficient and stable network
Pengelolaan server juga dimodernisasi melalui Standardisasi environment. Server management was also modernized
Management Server dengan Microbot serta pembaruan through the standardization of server management using
sistem yang terpusat menggunakan Windows Server Update Microbot and centralized system updates using the Windows
System (WSUS) untuk menutup celah kerentanan secara Server Update System (WSUS) to automatically close
otomatis. vulnerability gaps.
PT Pertamina Geothermal Energy Tbk
Page 168
166 Laporan Tahunan 2025 | 2025 Annual Report
3. Inovasi Subsurface, Data Analytics, dan 3. Subsurface Innovation, Data Analytics, and
Kecerdasan Buatan Artificial Intelligence
PGE mengakselerasi pemanfaatan data teknis melalui PGE accelerated the utilization of technical data through
pengembangan solusi berbasis teknologi terkini, seperti: the development of solutions based on current technologies,
including:
a. Analitik Subsurface: Pengembangan machine learning a. Subsurface Analytics: The development of machine
untuk feedzone prediction, integrasi teracores (reservoir learning for feedzone prediction, integration of teracores
& wellbore simulation), serta solusi subsurface reservoir (reservoir and wellbore simulation), and subsurface
steam allocation. reservoir steam allocation solutions.
b. Platform Data Terintegrasi: Pembangunan integrated data b. Integrated Data Platform: The development of an
platform, akuisisi data melalui enhancement web salient, integrated data platform, data acquisition through web
dan pengumpulan data geothermal ke datalake melalui salient enhancements, and the collection of geothermal
platform geodatacollector. data into a data lake through the geodatacollector
platform.
c. Kecerdasan Buatan: Implementasi Geothermal Next- c. Artificial Intelligence: The implementation of the
Level Intelligence System (GENIUS AI) untuk mendukung Geothermal Next-Level Intelligence System (GENIUS AI)
pengambilan keputusan berbasis data di level yang lebih to support data-driven decision-making at a higher level.
tinggi.
4. Pengembangan Sistem Aplikasi dan Inovasi Model 4. Application System Development and Business
Bisnis Model Innovation
Untuk menunjang proses bisnis end-to-end, PGE melakukan To support end-to-end business processes, PGE carried out
pemeliharaan dan pengembangan berbagai aplikasi the maintenance and development of various strategic
strategis, baik secara mandiri maupun kolaboratif, melalui: applications, both independently and collaboratively,
through:
a. Aplikasi Operasional & HSSE: Peningkatan fitur pada a. Operational & HSSE Applications: Feature enhancements
HSSE Passport, I-tecs (tata kerja online), Patroli 86, dan to HSSE Passport, I-tecs (online work procedures), Patroli
Peka Online. 86, and Peka Online.
b. G-Bionic Program: Implementasi ekosistem aplikasi yang b. G-Bionic Program: The implementation of an application
mencakup Geo Hazard Monitoring Tools, Document ecosystem covering Geo Hazard Monitoring Tools,
Management System (DMS), Contract Management Document Management System (DMS), Contract
System (CMS), Learning Management System (LMS), Management System (CMS), Learning Management
serta Asset Performance Management (APM). System (LMS), and Asset Performance Management
(APM).
c. Monitoring Bisnis: Pembangunan Integrated KPI c. Business Monitoring: The development of an Integrated
Dashboard dan Drilling Readiness Dashboard untuk KPI Dashboard and a Drilling Readiness Dashboard for
visibilitas performa yang lebih baik. better performance visibility.
5. Geospasial dan Monitoring Lapangan 5. Geospatial and Field Monitoring
Optimasi aset fisik dilakukan melalui pemanfaatan The optimization of physical assets was carried out through
Geographic Information System (GIS) yang dikhususkan pada the utilization of a Geographic Information System (GIS)
dokumentasi spasial lahan (PGE Land). Inisiatif ini didukung dedicated to spatial land documentation (PGE Land). This
dengan pembaruan foto citra satelit untuk monitoring fungsi initiative was supported by updates to satellite imagery for
HSSE, pemetaan area manifestasi, pengukuran koordinat HSSE function monitoring, mapping of manifestation areas,
sumur pengeboran di berbagai lapangan (seperti Seulawah measurement of drilling well coordinates across various
dan Kotamobagu), serta pembuatan peta perizinan dan batas fields (such as Seulawah and Kotamobagu), as well as
lahan untuk kebutuhan pengadaan dan survei lapangan. the preparation of permitting and land boundary maps for
procurement and field survey purposes.
Penguatan Penerapan Digitalisasi dalam Proses Bisnis Strengthened Implementation of Digitalization in
Business Process
Penggunaan digitalisasi dan kecerdasan buatan atau artificial Leveraging digitalization and artificial intelligence (AI) in business
intelligence (AI) dalam proses bisnis sudah menjadi salah satu processes is a necessity today. AI, which was created to realize
keharusan di masa kini. AI yang diciptakan untuk mewujudkan efficiency, effectiveness and resolve issues, can optimize business
efisiensi, efektivitas dan solusi pemecahan masalah, dapat processes alongside human resources.
mengoptimalkan proses bisnis berdampingan dengan tenaga
manusia.
PT Pertamina Geothermal Energy Tbk
Page 169
Laporan Tahunan 2025 | 2025 Annual Report 167
PGE sudah menerapkan penggunaan AI dalam berbagai proses PGE has adopted the use of AI in various business processes,
bisnis, di antaranya untuk mengoptimalkan pencarian potensi including optimizing the search for geothermal potential. In
panas bumi. Pada tahun 2024, PGE juga telah merintis berbagai 2024, PGE also pioneered various digitalization programs to
program digitalisasi untuk mendorong proses efisiensi dan encourage efficiency processes and data accuracy in decision-
keakuratan data dalam pengambilan keputusan. making processes.
Aplikasi Terintegrasi Geothermal Data Collector Integrated Geothermal Data Collector App
Perseroan telah memiliki aplikasi Geothermal Data Collector yang The Company has implemented the Geothermal Data Collector
terintegrasi dengan Dashboard Power BI sejak kuartal I-2024. application integrated with the Power BI Dashboard since the first
Pengembangan ini merupakan bagian dari program digitalisasi quarter of 2024. This development is part of the digitalization
untuk meningkatkan efisiensi dan akurasi pengelolaan data program to improve the efficiency and accuracy of subsurface
subsurface, khususnya data Pressure & Temperature (P&T) sumur data management, particularly Pressure and Temperature (P&T)
geothermal. Aplikasi ini menggantikan proses manual berbasis geothermal well data. The application replaces the previous
Excel yang sebelumnya digunakan untuk mengelola data lebih Excel-based manual process used to manage data from more
dari 280 sumur geothermal. than 280 geothermal wells.
Nilai Tambah: Added Value:
• Efisiensi & Akurasi: • Efficiency & Accuracy:
Mengurangi beban kerja manual dan mempercepat Reduces manual workload and accelerates P&T graph
pembuatan grafik P&T. creation.
• Centralized Database: • Centralized Database:
Data tersimpan aman dengan sistem backup yang robust. Data is stored securely with a robust backup system.
• Analitik Lanjutan: • Advanced Analytics:
Membuka peluang pengembangan master data sumur yang Opens up opportunities for developing standard well master
standar. data.
• Visualisasi Data: • Data Visualization:
Meningkatkan transparansi dan interpretasi data melalui Increases data transparency and interpretation through Power
Power BI. BI.
Pengembangan Solusi Steam Allocation, Steam Allocation, Well Performance
Well Performance Monitoring, dan Monitoring, and Forecast Solution
Forecast Development
Perseroan mengembangkan solusi untuk meningkatkan The Company developed a solution to improve the capability
kapabilitas tim Reservoir Production Monitoring dalam melakukan of the Reservoir Production Monitoring team in calculating the
perhitungan perkiraan alokasi steam pada setiap sumur. Proses estimated steam allocation for each well, by calculating daily
kerjanya dengan melakukan kalkulasi data produksi harian pada production data for each well and wellhead pressure data,
tiap sumur dan data tekanan kepala sumur, separator, dan steam separators, and steam vessels.
vessel.
Dengan menerapkan persamaan dan formulasi perhitungan Through the application of equations and formulas for calculating
steam rate dan enthalpy, akan didapatkan model data untuk steam rate and enthalpy, a data model will be obtained to predict
memprediksi decline rate pada Pembangkit Listrik Tenaga Panas the decline rate at the Geothermal Power Plant (PLTP) which is
Bumi (PLTP) yang diturunkan hingga level per sumur. reduced to the level per well.
Aplikasi ini memudahkan integrasi dan implementasi persamaan This application facilitates the integration and implementation of
tersebut, yang dilengkapi dengan fitur konfigurasi untuk these equations, equipped with configuration features to apply
menerapkan diagram skematik PLTP sehingga prediksi (forecast) PLTP schematic diagrams, enabling it to conduct forecasts more
dapat dilakukan dengan lebih akurat untuk setiap area PLTP PGE. accurately for each PGE PLTP area.
Integrasi Data melalui G-Bionic Data Integration via G-Bionic
Pada tahun 2025 PGE merintis proyek G-Bionic atau Geothermal In 2025, PGE pioneered G-Bionic, Geothermal Business
Business Intelligence and Integrated Operation Center, salah Intelligence and Integrated Operation Center, one of the strategic
satu inisiatif strategis peningkatan corporate capability melalui initiatives to improve corporate capability through end-to-end
transformasi digital secara end-to-end terhadap lini bisnis digital transformation of the Company’s core business lines. This
inti Perseroan. Transformasi terintegrasi ini dirancang untuk integrated transformation is devised to simplify work processes
PT Pertamina Geothermal Energy Tbk
Page 170
168 Laporan Tahunan 2025 | 2025 Annual Report
mempermudah proses kerja melalui digitalisasi, memperkuat through digitalization, strengthen organizational capabilities
kemampuan organisasi melalui penerapan AI (Artificial through the application of AI and improve the accuracy
Intelligence) serta meningkatkan akurasi pengambilan keputusan of decision-making based on reliable data sources through
berdasarkan sumber data yang dapat dipercaya melalui the development of data infrastructure as a single source of truth.
pengembangan infrastruktur data sebagai single source of truth.
Transformasi tersebut menjadi salah satu fondasi penting yang This transformation became one of the important foundations
tertuang pada prospektus penawaran perdana saham Perseroan set out in the Company’s initial public offering (IPO) prospectus
kepada publik (IPO) guna menghadapi tantangan baru to address new challenges in the development and utilization
pengembangan dan pemanfaatan sumber daya panas bumi of geothermal resources with a capacity of 3 gigawatts. A total
dengan kapasitas 3 gigawatt. Terdapat 52 inovasi yang akan of 52 innovations will be implemented under the G-Bionic project,
dijalankan pada proyek G-Bionic, mencakup seluruh aspek pada covering all aspects of the value chain across 16 departments
value chain dari 16 departemen yang terlibat pada proses bisnis involved in the Company’s business processes. All of these
perusahaan. Seluruh inovasi ini bertujuan untuk meningkatkan innovations are aimed at improving efficiency, speed, and
efisiensi, kecepatan, dan produktivitas dari seluruh lini bisnis PGE. productivity across all PGE business lines.
POWERING GROWTH THROUGH SUSTAINABLE
AND DATA-DRIVEN DIGITAL INNOVATIONS
Indonesia as The Operation Excellence of Strategic New Asset New Revenue Stream –
Geothermal Center of Existing Asset Development for Growth Beyond Electricity
Excellence 727 MW Organic Growth: • Green Hydrogen Plant
Own Operation* • UBL & LHD Co-Generation • Komersialisasi Lab
1,205 MW • HLS Unit 1&2, LMB 3 • 2 Phase Flow Meter
Joint Operation Contract Inorganic Growth: M&A
*1 GW in Next 2-3 Years
01 02 03 04
01 Lumut Balai
(110 MW)
04 05
Kamojang
(235 MW) Lahendong
(120 MW)
Karaha
06 04
(30 MW) 02
03
Ulubelu
(220 MW)
01 07 02
Geoscience Study 03
• Feedzone Predicition
using Machine Learning 01
• Integrated Geoscience
Data Repository
• Subsurface Data 07
Visualization Business & Growth Enabler
• Integrated Geoscience • Integrated Data Platform
and Reservoir Modelling • Integrated KPI Dashboard
04
• Geohazard Simulation • Procurement
Engineering &
Management Application
Construction
• Integrated Contract
02 • Engineering Document
Management Platform
Management System
Feasibility Study • PGE audit System
• PEDAS Improvement
• Integrated Capital Improvement
Management Platform • Integrated Cashflow &
• PGE Land Optimization 06 Treasury Dashboard
05 Operation & Maintenance • Enterprise Document
Production & Generation • Asset Performance Management System
03 • Digital Twin – Production Management • Learning Management
Geothermal Well Drilling Optimization Platform • Plant Information System
• Drilling Optimization • Geohazard Monitoring Management System • Self-Service Tool
Platform Tools (PIMS) • Stakeholder Management
• Realtime Drilling • i-PGE Improvement • Seamless Asset Tool
• Operation Monitoring • ESG Dashboard Management System • Employee Profile
• Drilling Readiness • Well Surveillance • Safety Monitoring & Dashboard
Dashboard Dashboard Surveillance Tools • CSR Dashboard
PT Pertamina Geothermal Energy Tbk
Page 171
Laporan Tahunan 2025 | 2025 Annual Report 169
ada tahun 2025, Perseroan bersama Pertamina Digital Hub In 2025, the Company, together with Pertamina Digital Hub,
juga sedang melakukan inovasi berbasis machine learning yang also carried out machine learning–based innovations to predict
dapat memprediksi letak feedzone dari reservoir panas bumi the location of feed zones in geothermal reservoirs for upstream
untuk pengembangan dari sisi hulu. Dari sisi hilir, pengembangan development. From the downstream perspective, the development
digital twin telah dimulai guna melakukan optimasi proses dan of a digital twin has been initiated to optimize processes and
pendeteksian terhadap penurunan efisiensi lini produksi. detect declines in production line efficiency.
Selain itu, ada beberapa inisiatif yang sudah Go-Live pada In addition, several initiatives went Go-Live in 2025, including
tahun 2025 seperti integrasi data real-time dari seluruh area the integration of real-time data from all operational areas,
operasi, performance dashboard, integrated KPI dashboard dan performance dashboards, an integrated KPI dashboard,
beberapa inovasi lain yang dikembangkan sebagai solusi dari and several other innovations developed as solutions to business
business pain points yang telah dipetakan pada awal proyek ini pain points identified at the beginning of this project.
dimulai.
Untuk mengembangkan seluruh inisiatif tersebut, PGE tentu tidak In developing these initiatives, PGE did not start from a zero
memulainya dari kondisi nihil. Perseroan telah memiliki 42 tahun baseline. The Company has accumulated 42 years of geothermal
data pengoperasian panas bumi yang akan digunakan sebagai operational data, which will be utilized as a productive asset
aset produktif untuk membangun model, mengembangkan to build models, develop machine learning, and deliver greater
machine learning dan memberikan value yang lebih tinggi bagi value to the Company.
perusahaan.
Berbagai inovasi yang dikembangkan pada proyek ini The various innovations developed under this project serve as
adalah mesin dalam mengakselerasi growth story PGE melalui an engine to accelerate PGE’s growth story through integrated
transformasi digital secara terintegrasi tidak hanya dari digital transformation, not only in terms of technology adoption,
sisi adaptasi teknologi, akan tetapi juga dari sisi capability but also in capability development and process improvement.
development dan process improvement. Melalui inisiatif G-Bionic Through the G-Bionic initiative, PGE has entered a new era of
PGE masuk ke era baru digitalisasi bisnis panas bumi untuk geothermal business digitalization to position the Company and
dapat mengantarkan posisi perusahaan dan Pertamina Group the Pertamina Group as leaders in national energy resilience.
sebagai pemimpin ketahanan energi nasional.
PT Pertamina Geothermal Energy Tbk
Page 172
170 Laporan Tahunan 2025 | 2025 Annual Report PT Pertamina Geothermal Energy Tbk
Page 173
Laporan Tahunan 2025 | 2025 Annual Report 171
05
Analisis dan
Pembahasan
Manajemen
Management Discussion
and Analysis
PT Pertamina Geothermal Energy Tbk
Page 174
172 Laporan Tahunan 2025 | 2025 Annual Report Tinjauan Ekonomi dan Industri Economic and Industry Overview Tinjauan Ekonomi Economic Overview Pada tahun 2025, kondisi perekonomian global belum In 2025, the global economic conditions have not fully recovered. sepenuhnya pulih. Menurut Dana Moneter Internasional atau According to the International Monetary Fund (IMF) in its October International Monetary Fund (IMF) dalam laporannya yang 2025 report, “World Economic Outlook: Global Economy bertajuk “World Economic Outlook: Global Eonomy in Flux, in Flux, Prospects Remain Dim,” the economy is still adjusting Prospects Remain Dim” edisi Oktober 2025, perekonomian to the impact of changing economic policies. These include tariff masih dalam tahap penyesuaian terhadap dampak dari policies imposed by several countries and protectionism. perubahan kebijakan ekonomi. Di antaranya, berkenaan dengan kebijakan tarif yang diberlakukan oleh sejumlah negara serta proteksionisme. Dalam situasi yang dinamis itu, IMF memproyeksikan In this dynamic situation, the IMF projects that global economic perekonomian global pada tahun 2025 akan sekitar 3,2%, growth is expected to slow from 3.3% in 2024 to around 3.2% lebih rendah dibandingkan tahun 2024 yang mencapai 3,3%. in 2025 and 3.1% in 2026. Bahkan pada tahun depan diperkirakan sekitar 3,1%. Di tengah perkembangan situasi global yang belum stabil Amidst the unstable global situation, the Indonesian economy tersebut, perekonomian Indonesia pada tahun 2025 masih grew positively in 2025. The Central Statistics Agency (BPS) tumbuh positif. Badan Pusat Statistik (BPS) mencatat, pertumbuhan recorded Gross Domestic Product (GDP) growth reaching 5.11% Produk Domestik Bruto (PDB) mencapai 5,11% secara tahunan year-on-year (yoy). While the previous year grew by around atau year on year (yoy). Sementara tahun sebelumnya tumbuh 5.03%. sekitar 5,03%. Dari sisi pengeluaran, kinerja konsumsi rumah tangga masih In terms of expenditure, household consumption remains menjadi kontributor terbesar, yakni 53,88%. terhadap PDB. the largest contributor, contributing 53.88% to GDP. This Komponen ini mengalami pertumbuhan 4,98%. Sedangkan component experienced growth of 4.98%. Meanwhile, investasi atau Pembentukan Modal Tetap Bruto (PMTB) yang investment, or Gross Fixed Capital Formation (PMTB), which berkontribusi 28,77% terhadap PDB tumbuh 5,09%. contributes 28.77% to GDP, grew by 5.09%. Dari sisi lapangan usaha, industri pengolahan masih menjadi In terms of business sectors, the manufacturing industry remains kontributor terbesar terhadap PDB. Pada tahun 2025, the largest contributor to GDP. In 2025, its contribution reached kontribusinya sebesar 19,07%, dengan pertumbuhan 5,30%. 19.07%, with a growth rate of 5.30%. Meanwhile, the electricity Sedangkan lapangan usaha pengadaan listrik dan gas tumbuh and gas supply sector grew by 3.10%. This sector contributes 3,10%. Sektor ini berkontribusi terhadap PDB sekitar 1,00%. approximately 1.00% to GDP. Tinjauan Industri Industry Overview Pemerintah Indonesia memiliki komitmen untuk mengembangkan The Indonesian government is committed to developing Energi Baru Terbarukan (EBT). Hal itu, antara lain tampak pada New and Renewable Energy (NRE). This is stipulated in the dokumen Second Nationally Determined Contribution (SNDC) Second Nationally Determined Contribution (SNDC) document tahun 2025 yang telah disampaikan kepada Konvensi Kerangka for 2025, submitted to the United Nations Framework Convention Kerja PBB tentang Perubahan Iklim (UNFCCC). Dokumen on Climate Change (UNFCCC). This revised document, perbaikan terhadap NDC pertama yang diterbitkan pada tahun an improvement on the first NDC published in 2016, represents 2016 itu merupakan komitmen Indonesia dalam menurunkan Indonesia’s commitment to reducing carbon emissions. emisi karbon. PT Pertamina Geothermal Energy Tbk
Page 175
Laporan Tahunan 2025 | 2025 Annual Report 173
Selaras dengan komitmen tersebut, Rencana Usaha Penyediaan In line with this commitment, the 2025-2034 Electricity
Tenaga Listrik (RUPTL) 2025-2034 yang dikeluarkan oleh Supply Business Plan (RUPTL) issued by the Ministry of Energy
Kementerian Energi dan Sumber Daya Mineral (ESDM) telah and Mineral Resources (ESDM) has outlined a renewable energy
membuat skenario pengembangan EBT. Sepanjang periode development scenario. During this period, the government plans
tersebut, pemerintah berencana menambah pembangkit listrik to add 69.5 gigawatts (GW) of power generation capacity.
berkapasitas 69,5 gigawatt (GW).
Dari jumlah penambahan tersebut, sebesar 42,6 GW di Of this additional capacity, 42.6 GW is renewable energy. More
antaranya merupakan EBT. Lebih dari 10% atau sekitar 5,2 GW than 10%, or approximately 5.2 GW, will come from geothermal
akan berasal dari panas bumi. energy.
Menurut data Kementerian ESDM, dalam 10 tahun terakhir According to data from the Ministry of Energy and Mineral
(2015-2024), produksi listrik yang dihasilkan dari pembangkit Resources, electricity production from geothermal power plants
panas bumi telah tumbuh sekitar 66,83%, dari 10.048 GWh has grown by approximately 66.83% over the past 10 years
di tahun 2025 menjadi 16.763 GWh pada tahun 2024. (2015-2024), from 10,048 GWh in 2015 to 16,763 GWh
Volume produksi tersebut merupakan gabungan antara on-grid in 2024. This production volume is a combination of on-grid and
dan off-grid. off-grid generation.
Saat ini, kapasitas terpasang terpasang listrik dari sumber panas Currently, the installed capacity of electricity from geothermal
bumi sebesar 2,74 GW. Menurut catatan Kementerian ESDM, sources is 2.74 GW. According to the Ministry of Energy
potensi sumber daya panas bumi Indonesia mencapai 23,74 and Mineral Resources, Indonesia’s geothermal potential
GW. Dengan demikian, peluang pengembangan energi berbasis reaches 23.74 GW. Thus, the potential for geothermal energy
panas bumi masih sangat besar. development remains substantial.
Kontribusi Kapasitas Terpasang PGE PGE’s Installed Capacity Contribution in
dalam Industri Panas Bumi Indonesia the Indonesian Geothermal Industry
Hingga akhir tahun 2025, pemanfaatan energi panas bumi pada As of 2025, Indonesia’s geothermal energy utilization
sektor ketenagalistrikan di Indonesia mencapai 2,74 GW. PGE in the electricity sector reached 2.74 GW. PGE the largest
menjadi pengelola panas bumi terbesar di Tanah Air dengan geothermal operator in Indonesia, with an installed capacity
kontribusi kapasitas terpasang hingga 29,72%. Adapun jumlah contributing up to 29.72% of the national total. A comparison
kapasitas terpasang Perseroan bila dibandingkan dengan of the company’s installed capacity with IPP in Indonesia
Independent Power Producer di Indonesia adalah sebagai berikut: is presented as a follows:
Kapasitas Terpasang Porsi
No. Independent Power Producer
Installed Capacity Portion
1 PT Pertamina Geothermal Energi Tbk 727 MW 29,72%
2 Star Energi Geothermal Salak, Ltd*) 381 MW 15,58%
3 Sarulla Operations, Ltd*) 330 MW 13,49%
4 Star Energi Geothermal Darajat II, Ltd*) 274,5 MW 11,22%
5 Star Energi Geothermal (Wayang Windu), Ltd *)
230,5 MW 9,42%
6 PT Sorik Marapi Geothermal Power 195 MW 7,97%
7 PT Supreme Energi 168 MW 6,87%
8 PT Geo Dipa Energy 120 MW 4,91%
9 PT PLN (Persero) 10 MW 0,41%
10 PT Sokoria Geothermal Indonesia 10 MW 0,41%
*)
Menggunakan skema Kontrak Operasi Bersama pada WKP milik Perseroan
Sumber: situs web IPP | Source: IPP’s website
*)
Utilizing a Joint Operation Contract scheme in the Company’s working areas (WKP).
PT Pertamina Geothermal Energy Tbk
Page 176
174 Laporan Tahunan 2025 | 2025 Annual Report
Hingga akhir tahun 2025, Perseroan mengelola Wilayah Kuasa By the end of 2025, the Company operated 6 (six) geothermal
Pengusahaan (WKP) panas bumi yang dikelola sendiri (own Working Areas (WKP) under its own operation that had entered
operation) sebanyak 6 (enam) lapangan yang sudah beroperasi commercial operation, with a total installed capacity of 727 MW.
komersial dengan total kapasitas terpasang sebesar 727 MW. These fields include Kamojang (235 MW), Ulubelu (220 MW),
Lapangan tersebut meliputi Kamojang (235 MW), Ulubelu Lahendong (120 MW), a 0.5 MW binary plant for internal use,
(220 MW), Lahendong (120 MW) serta binary plant sebesar Sibayak (12 MW), Karaha (30 MW) and Lumut Balai (110 MW).
0,5 MW untuk kebutuhan sendiri (own use), Sibayak (12 MW),
Karaha (30 MW) dan Lumut Balai (110 MW).
PGE juga masih memiliki 4 (empat) proyek yang dalam tahap PGE also still has four geothermal projects in the development
pengembangan, yakni proyek Bukit Daun unit 1 & 2 (Bengkulu), phase, namely the Bukit Daun unit 1 & 2 project (Bengkulu),
Lumut Balai unit 3 & 4 (Sumatra Selatan), Lahendong unit Lumut Balai unit 3 & 4 (South Sumatra), Lahendong unit 7 & 8
7 & 8 (Sulawesi Utara), dan Hululais unit 1 & 2 (Bengkulu). (North Sulawesi), and Hululais unit 1 & 2 (Bengkulu). In addition,
Selain itu, terdapat lapangan-lapangan lain yang masih dalam several other fields remain in the exploration stage, including the
tahap eksplorasi, yakni proyek Seulawah (Aceh), Kotamobagu Seulawah (Aceh), Kotamobagu (North Sulawesi) and Gunung
(Sulawesi Utara) dan Gunung Tiga (Lampung) Tiga (Lampung) projects.
Selain itu, terdapat 5 (lima) lapangan yang dioperasikan melalui In addition, PGE collaborates with partners through Joint
kerja sama dalam bentuk Kontrak Operasi Bersama (KOB) atau Operation Contracts (JOC) for five geothermal fields. Four of
Joint Operation Contract (JOC). Dari jumlah tersebut, 4 (empat) these fields are already in commercial operation, namely Gunung
di antaranya sudah beroperasi komersial, yaitu Gunung Salak Salak (377 MW), Darajat (271 MW) and Wayang-Windu
(377 MW), Darajat (271 MW) dan Wayang- Windu (227 MW) (227 MW), operated by Star Energy Geothermal Ltd., as well
yang dioperasikan oleh Star Energy Geothermal Ltd., Sarulla as Sarulla (330 MW) operated by Sarulla Operation Ltd. One
(330 MW) yang dioperasikan oleh Sarulla Operation Ltd., dan additional field, located in Bedugul, Bali and operated by Bali
satu lapangan dalam tahap eksplorasi yaitu di Bedugul, Bali Energy Ltd., remains in the exploration stage.
yang dioperasikan oleh Bali Energy Ltd.
Berdasarkan studi yang dilakukan dan diverifikasi oleh William A study conducted and verified in 2024 by geothermal expert
(Bill) Cumming dan LAPI ITB pada tahun 2024, didapatkan hasil William (Bill) Cumming in collaboration with LAPI ITB concluded
analisis bahwa potensi panas bumi di seluruh WKP panas bumi that the total geothermal potential across all PGE’s Working Areas
PGE mencapai 3 GW. Artinya, PGE masih memiliki peluang (WKP) reached 3 GW. This highlights the significant untapped
pengembangan panas bumi yang sangat besar di dalam WKP development opportunities within PGE’s existing concessions.
existing. PGE telah menargetkan kapasitas terpasang hingga Aligned with this potential, PGE has set a strategic target to
>1 GW pada 2 hingga 3 tahun mendatang. increase its installed capacity to more than 1 GW in the next 2
to 3 years.
PT Pertamina Geothermal Energy Tbk
Page 177
Laporan Tahunan 2025 | 2025 Annual Report 175
STRATEGI PERSEROAN COMPANY STRATEGY
Pada tahun 2025, Perseroan telah menetapkan 3 (tiga) strategi In 2025, the Company has established three main strategies, the
utama, yang uraiannya disampaikan melalui tabel di bawah ini. description of which is presented bellow:
Power Development
1. Menjaga keandalan operasi produksi di lapangan 1. Maintain the reliability of production operations in
existing agar dapat menyalurkan uap dan listrik sesuai existing fields, enabling it to distribute steam and
kapasitas terpasang. electricity according to installed capacity.
2. Meningkatkan penguasaan teknologi dan berorientasi 2. Increase mastery of technology and orienting towards
pada proses digitalisasi untuk menunjang operasional, digitalization processes to support operations, cost
efisiensi biaya, serta meminimalkan potensi kerugian efficiency, and minimize potential losses, which can
yang pada akhirnya dapat meningkatkan daya tarik ultimately increase the attractiveness of the geothermal
bisnis panas bumi. business.
3. Menggunakan pendekatan bertahap (stepwise 3. Use a stepwise development approach in exploration
development) dalam eksplorasi dan pengembangan di and development in areas around existing work areas
area sekitar wilayah kerja existing untuk meminimalkan to minimize risk.
risiko.
4. Berpartisipasi dalam lelang WKP baru dan penugasan 4. Participate in new WKP auctions and propose PSP/
PSP/PSPE dari pemerintah. PSPE assignments from the Government.
5. Meningkatkan produksi dengan implementasi Binary 5. Increase production by implementing Binary Units
Unit pada lapangan existing dengan pemanfaatan in existing fields by utilizing brine and utilizing low-
brine serta pemanfaatan sumur-sumur bertekanan pressure wells.
rendah (low pressure).
6. Melakukan kerja sama strategis dengan mitra potensial 6. Conduct strategic cooperation with potential partners to
untuk memaksimalkan potensi dan mendorong maximize potential and encourage the development of
pengembangan lapangan existing. existing fields.
7. Menerapkan budaya kesehatan dan keamanan 7. Implement a culture of occupational health and safety
kerja (HSSE Cultures) dan berfokus pada penerapan (HSSE Cultures) and focus on implementing operational
operasional yang unggul (operational excellence). excellence.
8. Mengoptimalkan pengelolaan Sumber Daya Manusia 8. Optimize the management of Human Resources (HR)
(SDM) yang dimiliki melalui penerapan teknologi owned through the application of technology and
dan peningkatan kompetensi untuk dapat menunjang increase competence to support the Company’s growth
pertumbuhan Perseroan dalam mendukung visi in achieving the Company’s vision.
Perseroan.
9. Melakukan percepatan komersialisasi dan 9. Accelerate commercialization and minimize capital
meminimalisir belanja modal sebagai upaya untuk expenditures as an effort to increase returns on
meningkatkan pengembalian atas investasi. investment.
10. Mengoptimalkan keseluruhan rantai pasokan untuk 10. Optimize the entire supply chain for flexibility and cost
mendapatkan fleksibilitas dan penghematan biaya. savings.
Downstream Industrialization
1. Menginisiasi pengembangan alat dan komponen kunci 1. Initiate the development of tools and key components
industri panas bumi di dalam negeri. for the geothermal industry in the country.
2. Membangun kemitraan dengan mitra potensial dalam 2. Build partnerships with potential partners in the
pengembangan manufaktur heat exchanger dalam development of domestic heat exchanger manufacturing
negeri melalui kajian teknis dan pasar yang positif through commercially positive technical and market
secara komersial. studies.
3. Mendorong kolaborasi dengan BUMN, lembaga 3. Encourage collaboration with State-Owned Enterprises
riset, dan perguruan tinggi untuk penguatan R&D dan (SOEs), research institutions, and universities to
engineering capability, termasuk pengujian material, strengthen R&D and engineering capabilities, including
efisiensi termal, dan ketahanan operasional, serta material testing, thermal efficiency, and operational
membangun kemitraan strategis dengan manufaktur resilience, as well as building strategic partnerships
nasional dan global, serta with national and global manufacturers.
4. Melaksanakan proyek percontohan pemanfaatan 4. Implementing pilot projects for geothermal utilization
panas bumi untuk aplikasi industri tertentu sebagai for specific industrial applications as proof of concept
proof of concept sebelum direplikasi dan diskalakan di before being replicated and scaled in other geothermal
wilayah kerja panas bumi lainnya. work areas.
5. Membuka peluang jangkauan target pasar produk 5. Unlock opportunities for the target market reach of
yang dihasilkan, yang tidak terbatas pada industri the products produced, which is not limited to the
panas bumi. geothermal industry.
6. Mempersiapkan SDM melalui peningkatan kompetensi 6. Prepare human resources through improved competence
dan sertifikasi dalam mendukung implementasi strategi and certification in supporting the implementation of the
Perseroan. Company’s strategy
PT Pertamina Geothermal Energy Tbk
Page 178
176 Laporan Tahunan 2025 | 2025 Annual Report
Derivatives & Beyond Electricity
1. Mengembangkan pemanfaatan panas dan uap 1. Develop the direct use of non-electric geothermal heat
panas bumi non-listrik (direct use) untuk kebutuhan and steam for industrial needs such as heating, drying,
industri seperti pemanasan, pengeringan, dan proses and manufacturing processes, in order to increase the
manufaktur, guna meningkatkan nilai tambah sumber added value of geothermal resources beyond electricity
daya panas bumi di luar penjualan listrik. sales.
2. Menginisiasi pemenuhan kebutuhan listrik industri 2. Initiate the fulfillment of industrial electricity needs
secara langsung melalui pengembangan kawasan directly through the development of green industrial
industri hijau berbasis energi panas bumi. areas based on geothermal energy.
3. Menginisiasi penambahan portofolio bisnis baru 3. Initiate the addition of new business portfolios to
untuk menunjang keekonomian proyek baru maupun support the economics of new projects and increase the
meningkatkan profitabilitas Perseroan secara Company’s overall profitability, including through direct
keseluruhan, di antaranya melalui pemanfaatan energi use of geothermal energy and commercialization of
panas bumi secara langsung (direct use) maupun geothermal derivative products (by product).
komersialisasi produk turunan panas bumi (by product).
4. Mengembangkan strategi pemasaran berbasis 4. Develop marketing strategies based on industrial needs
kebutuhan industri untuk meningkatkan permintaan to boost demand for geothermal derivative products.
produk turunan panas bumi.
5. Berpartisipasi aktif dalam perdagangan karbon 5. Actively participate in national and international carbon
nasional dan internasional guna mendorong sumber trading to encourage additional sources of income for
pendapatan tambahan bagi Perseroan. the Company.
SKEMA PEMANFAATAN PANAS BUMI GEOTHERMAL UTILIZATION SCHEMES
Panas bumi memiliki fleksibilitas pemanfaatan yang tinggi karena Geothermal energy has high utilization flexibility since it does not
tidak bergantung pada kondisi iklim maupun cuaca. Secara depend on climate or weather conditions. In general, geothermal
umum pemanfaatan energi panas bumi dapat dibagi menjadi energy utilization is divided into two categories, namely indirect
dua, yakni pemanfaatan tidak langsung untuk Pembangkit Listrik utilization for Geothermal Power Plants (PLTP) and direct utilization
Tenaga Panas Bumi (PLTP), dan pemanfaatan langsung untuk for other activities.
kegiatan lain.
Skema Pemanfaatan Panas Bumi Secara Indirect Geothermal Utilization Scheme
Tidak Langsung
Pemanfaatan energi panas bumi secara tidak langsung untuk The indirect utilization of geothermal energy for PLTP involves
PLTP dijalankan dari hasil produksi fluida panas bumi dari using geothermal fluid produced from geothermal resources
sumber daya panas bumi (reservoir), yang kemudian uap (reservoirs), which then channels hot steam to the turbine to drive
panasnya dialirkan ke turbin untuk menggerakkan generator the generator through several stages:
melalui beberapa tahapan:
1. Pengeboran sumur dilakukan di kawasan dan/atau area 1. Well drilling is conducted in regions and/or areas that have
yang memiliki reservoir dengan kedalaman 700-3.000 reservoirs with a depth of 700-3,000 meters.
meter.
2. Pada lapangan panas bumi dominasi uap, fluida yang 2. In geothermal fields dominated by steam, the fluid flowing
mengalir dari sumur hanya berupa uap. from the well is only steam.
3. Pada lapangan panas bumi dominasi air, fluida yang 3. In geothermal fields dominated by water, the fluid flowing
mengalir dari sumur berupa uap dan air panas (brine). from the well is steam and hot water (brine).
4. Fluida panas bumi dialirkan menggunakan pipa menuju 4. Geothermal fluid is channeled using pipes to the separator
separator untuk memisahkan fasa menjadi uap dan brine. to separate its phase into steam and brine.
5. Brine yang telah dipisahkan diinjeksi kembali ke reservoir 5. The separated brine is re-injected into the reservoir through
melalui sumur injeksi. the injection well.
6. Uap tersebut dialirkan menuju turbin untuk memutar 6. The steam is channeled to the turbine to rotate the generator.
generator.
7. Listrik yang dihasilkan oleh generator dialirkan menuju 7. The electricity generated by the generator is channeled to the
transformer untuk disesuaikan tegangannya, kemudian transformer to adjust the voltage, then channeled to the PLN
dialirkan menuju jaringan listrik PT PLN (Persero). electricity network.
8. Melalui jaringan listrik tersebut, listrik didistribusikan 8. Through the electricity network, electricity is then distributed
ke konsumen di sekitar pembangkit listrik. to consumers around the power plant.
PT Pertamina Geothermal Energy Tbk
Page 179
Laporan Tahunan 2025 | 2025 Annual Report 177
11
10
8 1. LP Separator
6 9
2 7 2. Production Wheels
3 3. HP Separator
4 5
4. HP Turbine & Generator
5. Condencor
1 6. Non-Condensator Co³
7. Exhouseter
8. Hot Sirk
9. Cooling Tower
10. Transformer
11. Poer Transmission Lines
PT Pertamina Geothermal Energy Tbk (PGE)
Schematic Diagram of Direct Use of Geothermal Energy
Production Wells
Cold Water
Low Pressure
Separator
Penukar Panas
Cold Air Heat Exchanger
Hot Water 60¼C to Boiling
Blower Springs
Fishery Ponds
Steam to Tubine Heat Exchanger Cold Water to Creek
Cold Air
Cold Water
Warm - Hot Water Warm - Hot Water
Warm Water
Warm Water to Reinjection Wells
Green House Drying Plants
Farming
Fishery Ponds
Swimming/ Bathing Pools
PT Pertamina Geothermal Energy Tbk
Page 180
178 Laporan Tahunan 2025 | 2025 Annual Report
Skema Pengembangan Pembangkit Panas Bumi dengan Teknologi Binary
Geothermal Power Plant Development Scheme with Binary Technology
Turbines
Separator
Conventional
Production Well Unit
Scrubber
Turbines
Co Generation
Unit
Isopentane
Condensed
Isopentane
Vapour
Generating
Facility
Heat Exchanger
Fluida yang dihasilkan dari sumur panas bumi umumnya berupa Fluids produced from geothermal wells generally occur as a
aliran dua fasa (two-phase flow), yaitu campuran uap (steam) two-phase flow, consisting of a mixture of steam and hot water
dan air panas (brine). Pada sistem Pembangkit Listrik Tenaga (brine). In conventional Geothermal Power Plant (GPP) systems,
Panas Bumi (PLTP) konvensional, campuran tersebut dipisahkan the mixture is separated through a separator to produce steam,
melalui separator untuk menghasilkan uap yang kemudian which is then utilized to drive the main turbine connected to a
dimanfaatkan sebagai penggerak turbin utama yang terhubung generator.
dengan generator.
Meskipun uap telah dimanfaatkan, brine yang tersisa masih Although the steam has been utilized, the remaining brine still
memiliki temperatur tinggi dan potensi energi panas yang possesses a relatively high temperature and significant thermal
signifikan. Melalui penerapan teknologi binary cycle, panas energy potential. Through the application of binary cycle
residual dari brine dialirkan melalui heat exchanger untuk technology, the residual heat from the brine is transferred through
menguapkan fluida kerja sekunder bertitik didih rendah, seperti a heat exchanger to vaporize a secondary working fluid with a
isobutane atau isopentane. Uap yang dihasilkan kemudian lower boiling point, such as isobutane or isopentane. The resulting
menggerakkan turbin tambahan untuk menghasilkan listrik. vapor then drives an additional turbine to generate electricity.
Pemanfaatan teknologi binary cycle memungkinkan konversi The utilization of binary cycle technology enables the conversion
energi panas yang sebelumnya tidak termanfaatkan menjadi of thermal energy that was previously unused into additional
tambahan produksi listrik. Pendekatan ini meningkatkan efisiensi electricity generation. This approach enhances the efficiency of
pemanfaatan sumber daya panas bumi sekaligus mengoptimalkan geothermal resource utilization while optimizing the performance
kinerja aset eksisting tanpa memerlukan pengeboran sumur baru. of existing assets without requiring the drilling of new wells.
PT Pertamina Geothermal Energy Tbk
Page 181
Laporan Tahunan 2025 | 2025 Annual Report 179
Proses Bisnis Pemanfaatan Panas Bumi Indirect Geothermal Utilization Business
Secara Tidak Langsung Process
Pengelolaan panas bumi melalui pemanfaatan tidak langsung Geothermal management, through the indirect utilization
dengan mengoperasikan PLTP, dijalankan dalam proses bisnis of operating Geothermal Power Plants (PLTP), follows
berkesinambungan yang meliputi 3 (tiga) tahapan: eksplorasi, a continuous process that consists of three key stages: exploration,
eksploitasi, dan operasi. development, and operation.
Upstream Downstream
Notice of Resource Peletakan
Notice of Intend to
Confirmation batu pertama
Develop (NOID)
(NORC) Ground Breaking
Concession Bidding
Power Purchase Agreement Negotiation
Process
COD
Engineering
Survey 3G Eksplorasi
Front End Procurement,
3G Survey Exsploration Pengembangan
Engineering Construction & Produksi
Development
Design (FEED) Commissioning Production
(EPCC)
1-2 2-3 4-6 >30
tahun | years tahun | years tahun | years tahun | years
Skema Pemanfaatan Panas Bumi Secara Direct Geothermal Utilization Scheme
Langsung
Pemanfaatan langsung panas bumi secara langsung dilakukan Direct geothermal utilization refers to the use of geothermal
tanpa mengubah energi panas dan/atau fluida menjadi jenis energy for non-electrical purposes, without converting heat energy
energi lain untuk keperluan non listrik. Terdapat 2 (dua) cara and/or fluids into other forms of energy. This can be achieved in
untuk memanfaatkan panas bumi secara langsung dengan two ways by harnessing the energy that naturally occurs on the
menggunakan energi yang tampak di permukaan bumi Earth’s surface:
sebagaimana berikut:
1. Fluida panas bumi dialirkan melalui pipa ke separator 1. Geothermal fluid is directed to a low-pressure separator,
bertekanan rendah. Melalui tahap ini, uap panas dan brine where hot steam and brine are separated. The steam is then
akan terpisah. Uap panas dialirkan ke turbin, sedangkan air routed to the turbine, while the hot water from the separator
panas dari separator dialirkan menuju heat exchanger untuk is sent to a heat exchanger to warm the working fluid (water).
memanaskan fluida kerja (air) sehingga temperatur fluida This process raises the temperature of the working fluid, which
kerja berubah menjadi hangat. Air hangat tersebut kemudian can subsequently be used for direct applications such as in
dapat dialirkan dan langsung digunakan untuk perikanan, fisheries, ponds, or hot springs. The cooled water from this
kolam atau pemandian air panas. Air dingin yang dihasilkan process is safely returned to rivers or underground sources,
dalam proses ini akan mengalir kembali ke sungai atau maintaining environmental balance.
bawah tanah untuk menjaga keseimbangan.
2. Fluida panas bumi dari sumber mata air panas dialirkan 2. Geothermal fluid from hot spring sources is directed to a
ke heat exchanger untuk memanaskan fluida kerja (udara) heat exchanger, where it transfers heat to a working fluid
dan diatur suhunya hingga menjadi hangat. Udara hangat (air), which is then warmed to the desired temperature. The
tersebut dialirkan untuk menghangatkan rumah kaca dan resulting warm air is utilized for greenhouse heating and for
PT Pertamina Geothermal Energy Tbk
Page 182
180 Laporan Tahunan 2025 | 2025 Annual Report
mengeringkan hasil pertanian dan perkebunan. Brine dingin drying agricultural and plantation products. The cooled brine
yang dihasilkan dari proses ini akan dialirkan kembali ke generated from this process is returned to natural sources—
sungai atau ke tanah untuk menjaga keseimbangan. either into rivers or re-injected into the ground—to help
preserve environmental balance.
9
8
7
6
5
4 1. Production Wells Cold Water
2. LP Separator
3. Warm Water
4. Fishery Ponds
2 3 5. Heat Exchanger
1 6. Swimming/Bathing Pools
7. Heat Exchanger
8. Green House Farming
9. Daying Plant
PT Pertamina Geothermal Energy Tbk (PGE)
Schematic Diagram of Geothermal Energy Ultilization
Steam High Tension
Production Wells
line
HP Turbine
and Generator
Transformer
Flasher Low Pressure
(LP) Separator
Cooling Tower
Production Wells Steam
IP Turbine and
Generator
Condensate
Reinjection Wells
Brines
Gas
Condenser Exhauster
Hot Sink
Brines Injection Wells Condensate
PT Pertamina Geothermal Energy Tbk
Page 183
Laporan Tahunan 2025 | 2025 Annual Report 181
TINJAUAN OPERASIONAL PER SEGMEN OPERATIONAL OVERVIEW BY BUSINESS
USAHA SEGMENT
Segmen Usaha yang Dijalankan Business Segments Operated
PT Pertamina Geothermal Energy (“Perseroan,” “PGE”) PT Pertamina Geothermal Energy (“Perseroan,” “PGE”) stands as
merupakan pelopor dalam kegiatan pemanfaatan dan a pioneer in the development and utilization of geothermal energy
pengembangan energi panas bumi di Indonesia. Perseroan in Indonesia. The Company operates as an Independent Power
merupakan Independent Power Producer (IPP) yang melakukan Producer (IPP), engaging in the production and commercialization
kegiatan usaha memproduksi dan menjual produk berupa uap of geothermal steam and electricity. These products are sold under
panas bumi dan listrik. Penjualan produk dilakukan melalui structured agreements, namely the Geothermal Steam Sale and
mekanisme Perjanjian Jual Beli Uap Panas Bumi (PJBU), dan Purchase Agreement (PJBU) and the Electricity Sale and Purchase
Perjanjian Jual Beli Tenaga Listrik (PJBL). Agreement (PJBL).
Kegiatan usaha utama Perseroan adalah pengusahaan panas The Company’s core business activities focus on the indirect
bumi untuk pemanfaatan tidak langsung yang meliputi: utilization of geothermal resources, which primarily include:
1. Pengusahaan tenaga panas bumi 1. Geothermal power generation
2. Pengusahaan tenaga listrik 2. Electricity production and distribution
Produk dan jasa lain yang dihasilkan dari kegiatan usaha In addition to its core operations, the Company also generates
adalah: various products and services through its business activities,
including:
1. Uap (skema Upstream Project) 1. Geothermal steam (under the Upstream Project scheme)
2. Listrik (skema Total Project) 2. Electricity (under the Total Project scheme)
3. Karbon kredit 3. Carbon credits
4. Produk turunan panas bumi. 4. Geothermal derivative products.
Penjelasan lebih lanjut mengenai kegiatan usaha utama For more detailed information on the Company’s core business
Perseroan dan produk dan jasa yang dihasilkan dari kegiatan activities, as well as the products and services derived from these
usaha dapat dilihat pada bab Profil Perusahaan. operations, please refer to the Company Profile Chapter.
Sesuai Laporan Keuangan Perseroan tahun 2025, PGE membagi As outlined in the Company’s 2025 Financial Statement,
segmen usaha menjadi 2 (dua) yaitu: PGE classifies its business activities into two segments:
a. Operasi sendiri. a. Own Operations
b. Kontrak Operasi Bersama (KOB) dengan PLN. b. Joint Operation Contracts (JOC) with PLN.
Segmen penjualan KOB ke PLN memiliki aset yang dapat In the JOC sales segment to PLN, assets are represented
dialokasikan berupa piutang usaha. Sedangkan untuk liabilitas by accounts receivable, while corresponding liabilities are
yang dapat diatribusikan berupa utang usaha. Aset lainnya reflected as accounts payable. Other assets and liabilities, such
dan liabilitas lainnya seperti kas dan pinjaman dikelola secara as cash and loans, are managed centrally at the head office.
terpusat melalui kantor pusat.
Skema Perjanjian Penjualan Listrik Scheme of Power and Steam Purchase
dan Uap Agreement
Tarif penjualan uap dan listrik kepada offtaker ditetapkan Steam and electricity sales tariffs to offtakers are determined
berdasarkan formula yang telah disepakati dalam kontrak based on formulas agreed in the Power Purchase Agreements
Perjanjian Jual Beli Tenaga Listrik (PJBL) dan Perjanjian Jual Beli (PJBL) and Steam Sales Agreements (PJBU), including escalation
Uap (PJBU), termasuk mekanisme eskalasi dan penyesuaian mechanisms and tariff adjustments. Tariff adjustments are carried
tarif. Penyesuaian tarif dilakukan melalui indeksasi terhadap out through indexation to the United States Producer Price Index
Indeks Harga Produsen (Producer Price Index/PPI) dan Indeks (PPI) and Consumer Price Index (CPI). Accordingly, movements
Harga Konsumen (Consumer Price Index/CPI) Amerika Serikat. in these indices, whether increases or decreases, may affect the
Dengan demikian, pergerakan kenaikan ataupun penurunan tariff amounts payable by offtakers and, in turn, the Company’s
kedua indeks tersebut dapat mempengaruhi besaran tarif yang revenue. In addition, for steam sales, the Company applies
dibayarkan oleh offtaker, sehingga hal tersebutlah yang dapat a fixed annual tariff escalation of 2%*) to preserve the real value
memengaruhi pendapatan Perseroan. Selain itu, untuk penjualan of revenue over the long term.
uap, Perseroan menerapkan eskalasi tarif tetap sebesar 2%*)
per tahun guna menjaga nilai riil pendapatan dalam jangka
panjang.
PT Pertamina Geothermal Energy Tbk
Page 184
182 Laporan Tahunan 2025 | 2025 Annual Report
Kontrak penjualan Listrik dan uap oleh Perseroan kepada The Company’s electricity and steam sales contracts with offtakers
offtaker juga memuat skema take-or-pay. Berdasarkan ketentuan also incorporate a take-or-pay scheme. Under this arrangement,
tersebut, offtaker berkewajiban untuk membayar sejumlah offtakers are obligated to pay for a minimum agreed level of
kapasitas atau energi minimum sesuai dengan tingkat yang telah capacity or energy, thereby providing revenue certainty for the
disepakati, sehingga memberikan kepastian pendapatan bagi Company. For steam sales contracts, however, the Company’s
Perseroan. Sedangkan untuk kontrak penjualan uap, pendapat revenue is recognized based on the volume of steam utilized
Perseroan diakui didasarkan pada volume uap yang diserap and converted into electricity by the offtaker. Nevertheless,
dan dikonversikan menjadi listrik oleh offtaker. Namun demikian, under certain conditions, such as force majeure events and/or
dalam kondisi tertentu seperti terjadinya keadaan kahar (force planned routine maintenance of transmission facilities owned by
majeure) dan/atau pelaksanaan pemeliharaan rutin yang the offtaker or generation facilities owned by the Company, the
terencana pada fasilitas transmisi milik offtaker maupun fasilitas volume of electricity or steam sales may decline, which could
pembangkit milik Perseroan, volume penjualan listrik atau uap adversely affect the Company’s revenue.
dapat berkurang dan berdampak pada penurunan pendapatan
Perseroan.
*) Pengecualian berlaku untuk penjualan uap dari PLTP Lahendong Unit 1 yang *) An exception applies to steam sales from Lahendong Geothermal Power Plant Unit 1,
menggunakan tarif eskalasi sebesar 1% which uses a tariff escalation rate of 1%.
Struktur Take-or-Pay dan Mekanisme Eskalasi Tarif Produk
Take-or-Pay Structures and Product Price Escalation Mechanisms
Produk Pelanggan Tingkat Take-or-Pay Eskalasi Harga
Area Unit
Product Customer Take-or-Pay Level Price Escalation
Kamojang 1 Uap PT Indonesia Power 72,23% 2%
Steam
2 Uap PT Indonesia Power 72,23% 2%
Steam
3 Uap PT Indonesia Power 72,23% 2%
Steam
4 Listrik PLN 81% Keterkaitan dengan US CPI1)
Electricity Correlation with the U.S. CPI
5 Listrik PLN 90% Keterkaitan dengan US PPI2)
Electricity Correlation with the U.S. PPI
Ulubelu 1 Uap PT Indonesia Power 85% 2%
Steam
2 Uap PT Indonesia Power 85% 2%
Steam
3 Listrik PLN 90% Keterkaitan dengan US PPI
Electricity Correlation with the U.S. PPI
4 Listrik PLN 90% 1%
Electricity
Lahendong 1 Uap PT Indonesia Power - 2%
Steam
2 Uap PT Indonesia Power 69% 2%
Steam
3 Uap PT Indonesia Power 69% 2%
Steam
4 Uap PT Indonesia Power 90% 2%
Steam
5 Listrik PLN 90% Keterkaitan dengan US PPI
Electricity Correlation with the U.S. PPI
6 Listrik PLN 90% Keterkaitan dengan US PPI
Electricity Correlation with the U.S. PPI
Karaha 1 Listrik PLN 90% Keterkaitan dengan US PPI
Electricity Correlation with the U.S. PPI
Lumut Balai 1 Listrik PLN 90% Keterkaitan dengan US PPI
Electricity Correlation with the U.S. PPI
2 Listrik PLN 90% Keterkaitan dengan US PPI
Electricity Correlation with the U.S. PPI
Sibayak 1,2 Uap/Listrik PT Dizamarta Powerindo - -
Steam/Electricity
1)
Indeks Harga Konsumen Amerika Serikat | US CPI (Consumer Price Index)
2)
Indeks Harga Produsen Amerika Serikat | US PPI (Producer Price Index)
PT Pertamina Geothermal Energy Tbk
Page 185
Laporan Tahunan 2025 | 2025 Annual Report 183
Pencapaian Kinerja Tahun 2025 Performance Achievements in 2025
Tahap Operasi Komersial Penuh Full Commercial Operation of the Power
Pembangkit Plant
Pada Juni 2025, Perseroan berhasil mencapai Commercial In June 2025, the Company successfully achieved the Commercial
Operation Date (COD) untuk PLTP Lumut Balai Unit 2 di Sumatra Operation Date (COD) for the Lumut Balai Geothermal Power Plant
Selatan dengan kapasitas terpasang sebesar 55 MW. Hal Unit 2 in South Sumatra, with an installed capacity of 55 MW.
ini menandai dimulainya operasi komersial unit pembangkit This marked the start of commercial operations for the generating
tersebut. Pencapaian ini memperkuat komitmen Perseroan unit. This achievement strengthens the Company’s commitment
dalam mengeksekusi proyek strategis secara disiplin, sekaligus to executing strategic projects in a disciplined manner, while
meningkatkan total kapasitas terpasang PGE menjadi 727 MW. increasing PGE’s total installed capacity to 727 MW.
Pengembangan Pembangkit Binary Binary Power Plant Development
Pada 22 Desember 2025, konsorsium Perseroan bersama On 22 December 2025, the Company’s consortium with PT PLN
PT PLN Indonesia Power (PLN IP) mencapai kesepakatan tarif listrik Indonesia Power (PLN IP) reached an electricity tariff agreement
dengan PT PLN (Persero) untuk proyek PLTP Ulubelu Bottoming with PT PLN (Persero) for the 30 MW Ulubelu Bottoming Unit
Unit berkapasitas 30 MW. Kesepakatan ini menandai kemajuan Geothermal Power Plant project. This agreement marks significant
penting dalam komersialisasi proyek, menegaskan peran panas progress in the project’s commercialization, affirming the role
bumi sebagai sumber energi bersih yang andal. of geothermal energy as a reliable clean energy source.
Kesepakatan tersebut merupakan tindak lanjut dari Head The agreement is a follow-up to the previously agreed Heads
of Agreement (HoA) yang dan Memorandum of Understanding of Agreement (HoA) and Memorandum of Understanding
(MoU) yang telah disepakati sebelumnya. Proyek ini mengadopsi (MoU). This project adopts binary/bottoming cycle technology
teknologi binary/bottoming cycle untuk mengoptimalkan to optimize residual heat energy, increase efficiency, and
energi panas sisa, meningkatkan efisiensi, dan memperkuat strengthen the economy with a lower environmental footprint.
keekonomian dengan jejak lingkungan yang lebih rendah.
Kesepakatan tarif tersebut menjadi landasan percepatan The tariff agreement serves as the basis for accelerating the
tahap implementasi, termasuk pembentukan entitas usaha implementation phase, including the establishment of a joint
patungan, pengadaan Engineering, Procurement, Construction, venture entity, procurement of Engineering, Procurement,
and Commissioning (EPCC), dan finalisasi Power Purchasing Construction, and Commissioning (EPCC), and finalization
Agreement (PPA), dengan target COD pada tahun 2027. of the Power Purchasing Agreement (PPA), with a COD target
Inisiatif ini sekaligus mencerminkan konsistensi Perseroan of 2027. This initiative also reflects the Company’s consistency
dalam mengeksekusi kerja sama strategis Pertamina dan PLN in executing Pertamina and PLN’s strategic collaboration
dalam pengembangan panas bumi, serta fokus Perseroan pada in geothermal development, as well as the Company’s focus
pertumbuhan kapasitas melalui inovasi dan kolaborasi. on capacity growth through innovation and collaboration.
Produksi Uap Setara Listrik Electricity Equivalent Steam Production
Secara keseluruhan, produksi uap setara listrik Perseroan selama In general, the Company’s electricity-equivalent steam production
tahun 2025 mencapai 5.095,49 GWh, atau 103,8% dari in 2025 reached 5,095.49 GWh, achieving 103.8%
target yang ditetapkan dalam Rencana Kerja dan Anggaran of the 2025 Company Work Plan and Budget (RKAP) target of
Perusahaan (RKAP) 2025 yang sebesar 4.908,24 GWh. Produksi 4,908.24 GWh. This production represented an increase of
yang dihasilkan naik sebesar 187,25 GWh atau 105,6% 187.25 GWh, or 105.6%, compared to the previous year’s total
dibandingkan tahun sebelumnya yang sebesar 4.827,22 GWh. of 4,827.22 GWh.
PT Pertamina Geothermal Energy Tbk
Page 186
184 Laporan Tahunan 2025 | 2025 Annual Report
Tabel Perkembangan Produksi Uap Setara Listrik
Table of Development of Electricity Equivalent Steam Production
2025 2024 2023
Area
GWh GWh GWh
Kamojang
Unit I (Uap | Steam) 217,21 229,08 227,82
Unit II (Uap | Steam) 431,91 417,81 365,47
Unit III (Uap | Steam) 420,42 419,73 385,67
Unit IV (Listrik | Electricity) 480,95 446,28 452,81
Unit V (Listrik | Electricity) 255,91 271,54 261,88
Total Kamojang 1.806,41 1.784,44 1.693,65
Lahendong
Unit I (Uap | Steam) 107,88 132,09 119,99
Unit II (Uap | Steam) 127,88 146,03 134,21
Unit III (Uap | Steam) 125,41 116,79 125,54
Unit IV (Uap | Steam) 161,53 155,03 164,95
Unit V (Listrik | Electricity) 162,24 160,63 162,94
Unit VI (Listrik | Electricity) 163,90 161,77 161,23
Total Lahendong 848,83 872,34 868,86
Ulubelu
Unit I (Uap | Steam 386,01 409,00 363,58
Unit II (Uap | Steam 404,63 357,99 404,78
Unit III (Listrik | Electricity) 425,97 410,92 428,38
Unit IV (Listrik | Electricity) 399,92 415,78 409,34
Total Ulubelu 1.616,53 1.593,69 1.606,08
Karaha
Unit I (Listrik | Electricity) 109,63 94,67 96,68
Total Karaha 109,63 94,67 96,68
Lumut Balai
Unit I (Listrik | Electricity) 472,29 482,06 479,31
Unit ll (Listrik | Electricity) 241,81
Total Lumut Balai 714,10 482,06 479,31
Sibayak
Unit I (Uap | Steam) - - -
Monoblok - - -
Total Sibayak - - -
Grand Total 5.095,49 4.827,22 4.734,57
PT Pertamina Geothermal Energy Tbk
Page 187
Laporan Tahunan 2025 | 2025 Annual Report 185
Kinerja Produksi Berdasarkan Wilayah Kerja
Production Performance Based on Working Area
Wilayah Kerja Produksi Tahun 2025
Working Area Production in 2025
Area Kamojang Realisasi uap produksi setara listrik di Area Kamojang mencapai 1.806,41 GWh atau 104,8% dari target RKAP
Kamojang Area sebesar 1.723,78 GWh. Total produksi naik 21,96 GWh atau 101,2% dari tahun 2024 sebesar 1.784,45 GWh.
Pencapaian ini terjadi karena upaya peningkatan produksi pada Unit 1,2,3 melalui implementasi Program Optimasi
Pembangkitan, dan Re-URC Unit 4, sehingga pembangkitan naik dari 50,85 MW menjadi 61,27 MW.
The realization of steam production equivalent to electricity in the Kamojang Area reached 1,806.41 GWh, or
104.8% of the RKAP target of 1,723.78 GWh. Total production increased by 21.96 GWh, or 101.2%, from
1,784.45 GWh in 2024.
This achievement is due to efforts to increase production in Units 1,2,3 through the implementation of the Generation
Optimization Program and Re-URC Unit 4, so that generation increased from 50.85 MW to 61.27 MW.
Area Lahendong Realisasi uap produksi setara listrik di Area Lahendong mencapai 848,82 GWh atau 100,3% dari target RKAP
Lahendong Area sebesar 846,17 GWh. Total produksi turun 23,52 GWh atau 97,3% dari tahun 2024 sebesar 872,35 GWh.
Penurunan sebesar 2,64% (yoy) terutama karena penurunan permintaan suplai listrik dari PLN. Walau demikian
Perseroan tetap melakukan berbagai upaya untuk mempertahankan keandalan produksi, yang salah satunya adalah
dengan keberhasilan untuk mendapatkan penambahan suplai uap sebesar 6 MW dari unit LHD-11.
The realization of steam production equivalent to electricity in the Lahendong Area reached 848.82 GWh, or
100.3% of the RKAP target of 846.17 GWh. Total production decreased by 23.52 GWh, or 97.3%, from 872.35
GWh in 2024.
The decrease of 2.64% (yoy) was primarily due to lower demand for electricity supply from PLN. Nevertheless, the
Company continues to make various efforts to maintain production reliability, one of which is successfully securing an
additional 6 MW of steam supply from the LHD-11 unit.
Area Ulubelu Realisasi uap produksi setara listrik di Area Ulubelu mencapai 1.616,52 GWh, atau 98,4% dari target RKAP
Ulubelu Area sebesar 1.643,03 GWh. Total produksi naik 22,83 GWh, atau 101,4% dari tahun 2024 sebesar 1.593,70 GWh.
Meningkatnya produksi dapat terealisasi dari penambahan suplai uap dari Cluster M (mencapai kapasitas 35 MW)
semenjak 16 Mei 2025.
The realization of steam production equivalent to electricity in the Ulubelu area reached 1,616.52 GWh, or 98.4%
of the RKAP target of 1,643.03 GWh. Total production increased by 22.83 GWh, or 101.4%, from 1,593.70 GWh
in 2024.
The increase in production can be realized from the addition of steam supply from Cluster M (reaching a capacity of
35 MW) since May 16, 2025.
Area Karaha Realisasi uap produksi setara listrik di Area Karaha mencapai 109,62 GWh, atau 99,3% dari target RKAP sebesar
Karaha Area 110,34 GWh. Total produksi naik 14,67 GWh, atau 115,8 % dari tahun 2024 sebesar 94,67 GWh.
Meningkatnya produksi pada tahun 2025 didukung oleh penambahan suplai uap dari TLG 3.4 hingga mencapai
1,65 MW.
The realization of steam production equivalent to electricity in the Karaha Area amounted to 109.62 GWh, or 99.3%
of the RKAP target of 110.34 GWh. Total production increased by 14.67 GWh, or 115.8% from 94.67 GWh in
2024.
The increase in production in 2025 was supported by the addition of steam supply from TLG 3.4 to reach 1.65 MW.
Area Lumut Balai Realisasi uap produksi setara listrik di Area Lumut Balai mencapai 714,10 GWh, atau 122,1% dari target RKAP
Lumut Balai Area sebesar 584,91 GWh. Total produksi naik 232,04 GWh, atau 148,1 % dari tahun 2024 sebesar 482,06 GWh.
Faktor utama pendorong meningkatnya produksi pada area Lumut Balai adalah mulai beroperasinnya PLTP Lumut
Balai unit 2 di bulan Juni 2025 (URC 55,8 MW).
The realization of steam production equivalent to electricity in the Lumut Balai Area reached 714.10 GWh, or
122.1% of the RKAP target of 584.91 GWh. Total production increased by 232.04 GWh, or 148.1% from 482.06
GWh in 2024.
The main factor driving the increase in production in the Lumut Balai area was the start of operation of the Lumut Balai
Geothermal Power Plant Unit 2 in June 2025 (URC 55.8 MW).
PT Pertamina Geothermal Energy Tbk
Page 188
186 Laporan Tahunan 2025 | 2025 Annual Report
Kinerja Produksi Berdasarkan Wilayah Kerja
Production Performance Based on Working Area
Wilayah Kerja Produksi Tahun 2025
Working Area Production in 2025
Area Sibayak PLTP Unit I dan II milik PT Dizamatra Powerindo tidak beroperasi karena kondisi peralatan utama yang kurang
Sibayak Area mendukung dan tidak layak dioperasikan. Hal tersebut membuat perbaikan PLTP dihentikan melalui surat PT Dizamatra
Powerindo No.059/DP-SBY/III/2016. Berdasarkan kondisi tersebut, PT Pertamina (Persero) pada 30 Oktober 2017
telah mengirimkan Permohonan Pendapat Hukum kepada Kejaksaan Agung Republik Indonesia melalui Surat No.
690/ M00000/2017-S0, terkait Permasalahan Pelaksanaan Steam Sales Contract (SSC) atau Perjanjian Jual Beli
Uap dengan PT Dizamatra Powerindo. Permohonan ini disampaikan karena sampai saat ini Perseroan tidak dapat
memanfaatkan uap yang dihasilkan oleh Area Sibayak, karena sesuai SSC uap tersebut hanya bisa dijual kepada
PT Dizamatra Powerindo.
Sebagai tindak lanjut, Perseroan saat ini sedang melakukan kajian hukum dan teknis dalam melakukan opsi
reaktivasi Area Sibayak serta memastikan pemanfaatan potensi panas bumi dapat dilakukan secara optimal dan
sesuai dengan ketentuan yang berlaku.
Geothermal Power Plant Units I and II, owned by PT Dizamatra Powerindo, are not operating due to the condition of
the main equipment, which is not supportive and not suitable for operation. This caused the repair of the Geothermal
Power Plant to be stopped through a letter from PT Dizamatra Powerindo No.059/DP-SBY/III/2016. Based on
these conditions, on 30 October 2017, PT Pertamina (Persero) sent a Request for Legal Opinion to the office of the
Attorney General of the Republic of Indonesia through Letter No. 690/M00000/2017-S0, regarding the Problem
of Implementation of the Steam Sales Contract (SSC) or Steam Sales and Purchase Agreement with PT Dizamatra
Powerindo. This request was submitted because until now the Company has not been able to utilize the steam
produced by the Sibayak Area, because according to the SSC, the steam can only be sold to PT Dizamatra Powerindo.
As a follow-up, the Company is currently conducting legal and technical studies on implementing the Sibayak Area
reactivation option and ensuring that the utilization of geothermal potential can be carried out optimally and in
accordance with applicable regulations.
PENDAPATAN DAN PROFITABILITAS PER REVENUE AND PROFITABILITY BY
SEGMEN SEGMENT
Perseroan memperoleh pendapatan usaha melalui: The Company derives its operating revenue from:
1. Operasi sendiri, yang terdiri dari penjualan tenaga listrik 1. Own operations, which consist of sales of electricity and
dan uap yang dihasilkan di PLTP dan sumur uap kepada PLN steam generated at PLTP facilities and steam wells to PLN and
dan Independent Power Producer (IPP) lainnya berdasarkan other Independent Power Producers (IPPs), in accordance
berbagai ESC dan PJBU yang telah ditandatangani with various ESCs and PJBUs established by the Company.
Perseroan.
2. Production allowances yang diperoleh dari para Kontraktor 2. Production allowances received from JOC Contractors with
KOB yang memiliki kontrak dengan Perseroan untuk whom the Company has agreements to operate within its
beroperasi di dalam WKP Perseroan. Jumlah production WKP. Typically, the production allowance amounts to 4%
allowance biasanya sebesar 4% dari pendapatan of the JOC Contractor’s net operating revenue. However,
operasional bersih Kontraktor KOB. Namun khusus untuk specifically for operations conducted by Star Energy Darajat,
operasi yang dilakukan oleh Star Energy Darajat, nilainya the allowance is reduced to 2.66% of net operating revenue.
hanya sebesar 2,66% dari pendapatan operasional bersih.
Pendapatan Usaha dari segmen produksi uap dan listrik selama Operating Revenue from the steam and electricity production
tahun 2025 tercatat USD432.726 ribu, naik 6,29% dari tahun segment in 2025 was recorded at USD432,726 thousand, up
2024 yang sebesar USD407.120 ribu. Kenaikan Pendapatan 6.29% from USD407,120 thousand in 2024. The increase in
Usaha ditopang oleh kenaikan volume produksi uap dan listrik Operating Revenue was driven by the increase in the steam and
sebagai dampak dari akselerasi program pemeliharaan dan electricity production volumes, resulting from the acceleration of
keandalan pembangkit. the power plant maintenance and reliability program.
PT Pertamina Geothermal Energy Tbk
Page 189
Laporan Tahunan 2025 | 2025 Annual Report 187
Pendapatan Usaha PGE per Segmen
PGE Operating Revenue by Segment
Pertumbuhan/
Uraian 2025 2024 (Penurunan) % Description
Growth/ (Decrease)
Operasi Sendiri Own Operation
PT PLN Indonesia Power*
Kamojang 68.335 69.865 (1.530) -2,19 Kamojang
Lahendong 36.811 37.503 (692) -1,85 Lahendong
Ulubelu 44.292 42.647 1.645 3,86 Ulubelu
PLN
Kamojang 81.123 77.900 3.223 4,14 Kamojang
Lahendong 43.108 42.294 814 1,92 Lahendong
Ulubelu 71.978 71.561 462 0,65 Ulubelu
Karaha 10.132 8.684 1.448 16,67 Karaha
Lumut Balai 59.641 40.122 19.519 48,65 Lumut Balai
Jumlah Penjualan Operasi Total Sales of Own
415.420 390.531 24.889 6,37
Sendiri Operations
Production Allowance 17.306 16.589 717 4,32 Production Allowance
Jumlah Pendapatan Usaha 432.726 407.120 25.606 6,29 Total Operating Revenue
Keterangan/Note:
* Terhitung mulai 1 Januari 2024, terdapat pengalihan penerimaan tagihan dan pembayaran penjualan uap area Ulubelu dan Lahendong dari PT PLN (Persero) ke anak usahanya yaitu PT
PLN Indonesia Power.
* Effective from 1 January 2024, there is a transfer of receipt of invoices and payments for steam sales in the Ulubelu and Lahendong areas from PT PLN (Persero) to its subsidiary, namely
PT PLN Indonesia Power
Laba Bersih PGE per Segmen
PGE Net Profit per Segment
Uraian 2025 2024 2023 Description
Operasi Sendiri Own Operation
Ulubelu 35.233 41.479 48.702 Ulubelu
Lahendong 27.930 33.619 34.481 Lahendong
Kamojang 112.795 89.317 86.496 Kamojang
Lumut Balai 8.406 5.909 5.049 Lumut Balai
Karaha (11.868) (9.769) (8.719) Karaha
Segmen Lain (727) (253) (2.439) Other Segments
Jumlah Laba Bersih 137.667 160.302 163.570 Total Operating Revenue
Keterangan/Note:
* Terhitung mulai 1 Januari 2024, terdapat pengalihan penerimaan tagihan dan pembayaran penjualan uap area Ulubelu dan Lahendong dari PT PLN (Persero) ke anak usahanya yaitu
PT PLN Indonesia Power.
* Effective from 1 January 2024, there is a transfer of receipt of bills and payments for steam sales in the Ulubelu and Lahendong areas from PT PLN (Persero) to its subsidiary,
PT PLN Indonesia Power.
KEGIATAN EKSPLORASI DAN EXPLORATION AND DEVELOPMENT
PENGEMBANGAN ACTIVITY
Sesuai strategi bisnis dalam Rencana Kerja dan Anggaran Consistent with the business strategy set forth in its Work Plan
Perusahaan (RKAP) dan Rencana Jangka Panjang Perusahaan and Budget (RKAP) and Long-Term Plan (RJPP), the Company is
(RJPP), Perseroan terus melakukan kegiatan eksplorasi dan dedicated to progressing exploration and development activities
pengembangan di seluruh WKP. Komitmen ini dilakukan agar across all WKPs, ensuring a steady supply of geothermal steam
PGE dapat menjamin ketersediaan uap panas bumi untuk to meet sales and purchase agreements and support long-term
memenuhi kontrak jual beli dan usaha yang berkelanjutan. business sustainability.
PT Pertamina Geothermal Energy Tbk
Page 190
188 Laporan Tahunan 2025 | 2025 Annual Report
Eksplorasi Panas Bumi
Geothermal Exploration
Kapasitas
Lapangan Panas Bumi Lokasi Uraian Kegiatan
No. Capacity
Geothermal Field Location Activity Description
(MW)
Persiapan infrastruktur eksplorasi
1 Seulawah + Binary Unit 55 + 17 Seulawah Agam-Aceh
Preparation of exploration infrastructure
Kotomobagu-Sulawesi Persiapan infrastruktur eksplorasi
2 Kotamobagu + Binary Unit 50 + 14
Utara/North Sulawesi Preparation of exploration infrastructure
Pengeboran sumur eksplorasi
3 Gunung Tiga (Ulubelu Ext.) 2 x 27,5 Way Panas-Lampung
Exploration well drilling
Penyusunan feasibility study eksplorasi
4 Way Ratai 55 Way Panas-Lampung
Preparation of exploration feasibility study
Perseroan menargetkan pemboran eksplorasi sebanyak The Company is targeting exploration drilling of four wells in
empat sumur pada tahun 2025 yang terdiri dari dua sumur di 2025, consisting of two wells in the Seulawah Working Area
Wilayah Kerja Seulawah (Aceh) dan dua sumur di Wilayah (Aceh) and two well in the Kotamobagu Working Area (North
Kerja Kotamobagu (Sulawesi Utara), sebagai bagian dari Sulawesi), as part of its strategy to strengthen the development
strategi memperkuat pipeline pengembangan dan mempercepat pipeline and accelerate business commercialization.
komersialiasasi bisnis.
Aktivitas Realisasi Realisasi
Target 2025 Target 2024
Activity Realization 2025 Realization 2024
Pemboran Eksplorasi 2 Sumur 0 Sumur
4 0
Exploration Drilling 2 Wells 0 Well
Namun atas belum terealisasi pemboran eksplorasi di tahun 2025 However, Exploration drilling has not been realized in 2025
disebabkan oleh masih berlangsungnya tahapan persiapan teknis due to ongoing technical and operational preparation stages,
dan operasional termasuk pematangan studi geosains, perizinan including the completion of geoscience studies, permits, and
dan pembebasan lahan. Khusus di Wilayah Kerja Seulawah, land acquisition. Particularly in the Seulawah Working Area,
rencana kegiatan pemboran juga terdampak oleh bencana planned drilling activities were also impacted by the flash floods
banjir bandang Sumatera yang terjadi pada akhir Desember in Sumatra that occurred in late December 2025. The Company
2025. Perseroan terus melakukan langkah-langkah strategis continues to take strategic measures to ensure readiness for
untuk memastikan kesiapan pelaksanaan program eksplorasi exploration programs to support the sustainable growth of the
guna mendukung keberlanjutan pertumbuhan portofolio panas Company’s geothermal portfolio.
bumi Perseroan.
Kegiatan Pengembangan Development Activities
Perseroan melakukan berbagai kegiatan pengembangan untuk The Company is actively pursuing a range of development
mempercepat pembangunan PLTP di Indonesia guna mencapai initiatives to accelerate the construction of geothermal power
target kapasitas terpasang sebesar 1 GW pada dua hingga tiga plants (PLTP) across Indonesia, in line with its strategic goals of
tahun mendatang. reaching a total installed capacity target of 1 GW in the next two
to three years.
Proyek Pengembangan Panas Bumi untuk Pengelolaan Sendiri
Geothermal Development Project for Own Operations
Kapasitas
Wilayah Pengembangan Status Pengembangan Lokasi
Unit Capacity
Development Area Development Status Location
(MW)
Bukit Daun Pembuatan Feasibility Study
Unit 1 & 2 60 Hululais-Bengkulu
FS Development
Lumut Balai Pembangunan Infrastructure Lumut Balai dan Margabayur-
Unit 3 55
Infrastructure Development Sumatera Selatan
Perizinan Lumut Balai and Margabayur-South
Unit 4 55 Sumatera
Licensing
Lahendong Unit 7 & 8 + Feasibilty study Pengembangan Minahasa-Sulawesi Utara
40+10
Binary Unit 2 Feasibility study Development Minahasa-North Sulawesi
Hululais Unit 1 55 Konstruksi PLTP
Hululais-Bengkulu
Unit 2 55 Geothermal Power Plant Construction
PT Pertamina Geothermal Energy Tbk
Page 191
Laporan Tahunan 2025 | 2025 Annual Report 189
Sebagai bagian dari strategi pengembangan, Perseroan juga As part of its development strategy, the Company has identified
telah berhasil mengidentifikasi potensi penambahan kapasitas opportunities to enhance installed capacity by up to 230 MW
terpasang hingga 230 MW melalui pemanfaatan teknologi through the application of binary technology across its geothermal
binary/biner di wilayah kerjanya. working areas, optimizing the use of existing geothermal
resources for increased efficiency and output.
Area prioritas pengembangan akan dilakukan di area Ulubelu Priority development will focus on the Ulubelu area with a 30
melalui Binary Unit (BU) sebesar 30 MW dan area Lahendong MW Binary Unit (BU) and the Lahendong area with a 15 MW
dengan BU-1 sebesar 15 MW. Penandatanganan Memorandum BU 1. The signing of the Memorandum of Understanding (MoU)
of Understanding (MoU) antara PT Pertamina (Persero) dan PT between PT Pertamina (Persero) and PT PLN (Persero), as well
PLN (Persero) serta Head of Agreement (HoA) dan Consortium as the Head of Agreement (HoA) and Consortium Agreement
Agreement antara PGE dengan PT PLN Indonesia Power menjadi between PGE and PT PLN Indonesia Power, highlights PGE’s
bukti komitmen PGE sebagai upaya mempercepat komersialitas strong commitment to accelerating project commercialization and
bisnis. advancing geothermal development.
Untuk menjaga ketersediaan uap area operasi dan memastikan To maintain steam availability in the operating areas and ensure the
volume penyaluran uap dan listrik, Perseroan melakukan volume of steam and electricity delivery, the Company conducted
pemboran sumur make up drilling pada dua sumur, yaitu UBL-M4 make-up drilling activities on two wells, namely UBL-M4 in the
di area Ulubelu dan TLG-36 di area Karaha. Serta kegiatan Kerja Ulubelu area and TLG-36 in the Karaha area. In addition, the
Ulang Reparasi Sumur (KURS), yang termasuk workover, hole Company carried out Well Workover and Repair (KURS) activities,
cleaning dan acidizing, sebanyak satu sumur yang ditargetkan which include workover, hole cleaning, and acidizing, targeting
di sepanjang tahun 2025. Pelaksanaan kegiatan KURS pada one well throughout 2025. The implementation of KURS activities
sumur UBL-34 di area Ulubelu belum dapat diselesaikan pada on well UBL-34 in the Ulubelu area could not be completed in
tahun 2025 sehungan dengan adanya ketidakpastian pada 2025 due to uncertainties in the subsurface conditions of the well.
kondisi subsurface sumur. Kegiatan tersebut direncanakan untuk The activity is planned to continue in 2026.
dilanjutkan pada tahun 2026.
Aktivitas Realisasi Realisasi
Target 2025 Target 2024
Activity Realization 2025 Realization 2024
Pemboran Development & Make Up
2 2 6 Sumur/Wells 6 Sumur/Well
Development & Make Up Drilling
Kerja Ulang Reparasi Sumur (KURS)
1 0 6 Sumur/Wells 4 Sumur/Well
Well Repair Workover (KURS)
GEOTHERMAL INTEGRATED GEOTHERMAL INTEGRATED
MANAGEMENT SYSTEM (GIMS) MANAGEMENT SYSTEM (GIMS)
Dalam mengembangkan dan mengusahakan bisnis panas bumi, In its efforts to develop and operate its geothermal business
PGE menerapkan sistem manajemen Geothermal Integrated effectively, PGE implements the Geothermal Integrated
Management System (GIMS) No. G-001/PGE000/2023-S9 Management System (GIMS) No. G-001/PGE000/2023-S9
Revisi 3 Tanggal 16 September 2025 sebagai kerangka kerja Revision 3 dated 16 September 2025 as a framework for
pengelolaan Sistem Manajemen terpadu yang terdiri dari managing an integrated management system, incorporating
berbagai ISO sebagai berikut: multiple international standards (ISOs) as follows:
1. Sistem Manajemen Mutu ISO 9001:2015 1. Quality Management System ISO 9001:2015
2. Sistem Manajemen Keselamatan dan Kesehatan Kerja ISO 2. Occupational Health and Safety Management System ISO
45001:2018 45001:2018
3. Sistem Manajemen Lingkungan ISO 14001:2015 3. Environmental Management System ISO 14001:2015
4. Risk Management ISO 31000:2018 4. Risk Management ISO 31000:2018
5. Sistem Manajemen Anti Penyuapan ISO 37001:2016 5. Anti-Bribery Management System ISO 37001:2016
6. Sistem Manajemen Keamanan Informasi ISO/IEC 6. Information Security Management System ISO 27001:2022
27001:2022
7. Sistem Manajemen Layanan Teknologi Informasi ISO/IEC 7. Information Technology Service Management System ISO/
20000-1:2018 IEC 20000-1:2018
8. Sistem Manajemen Aset ISO 55001:2014 8. Asset Management System ISO 55001:2014
9. Sistem Manajemen Kelangsungan Bisnis ISO 22301:2019 9. Bussiness Continuity Management System ISO 22301:2019
PT Pertamina Geothermal Energy Tbk
Page 192
190 Laporan Tahunan 2025 | 2025 Annual Report
GIMS juga telah terhubung dengan sistem manajemen lain yaitu: GIMS has also been connected to other management systems,
namely:
1. Sistem Manajemen Laboratorium ISO/IEC 17025:2017 1. Laboratory Management System ISO/IEC 17025:2017
2. Sistem Manajemen Pengamanan (SMP) 2. Security Management System (SMP)
3. Sustainability Pertamina Expectation for Management 3. Sustainability Pertamina Expectation for Management
Excellence (SUPREME) Excellence (SUPREME)
Beberapa manfaat utama pengembangan GIMS adalah:
Some of the main benefits of developing GIMS is:
Jenis Manfaat Keterangan
No.
Type of Benefits Description
Efisiensi Operasional Mengurangi duplikasi proses dan meningkatkan efektivitas sistem manajemen.
1
Operational Efficiency Reducing process duplication and increasing the effectiveness of the management system.
Pengurangan Biaya Menghemat sumber daya dengan mengintegrasikan audit, dokumentasi, dan pelatihan.
2
Cost Reduction Saving resources by integrating audits, documentation, and training.
Kepatuhan yang Lebih Baik Memastikan organisasi mematuhi berbagai standar internasional dan pemenuhan aspek GCG.
3
Better Compliance Ensuring the organization complies with various international standards, and fulfillment of GCG aspects.
Peningkatan Kinerja Memudahkan pengukuran dan peningkatan berkelanjutan di berbagai aspek operasional.
4
Performance Improvement Facilitating measurement and continuous improvement in various operational aspects.
Fleksibilitas dan Skalabilitas Memungkinkan organisasi untuk menyesuaikan sistem manajemen dengan pertumbuhan dan perubahan bisnis.
5
Flexibility and Scalability Enabling organizations to adjust the management system to business growth and change.
Mengingat manfaatnya yang besar, Perseroan tidak menutup Recognizing the significant benefits of GIMS, the Company
kemungkinan pengembangan GIMS dengan mengintegrasikan remains open to further enhancements by integrating additional
sistem manajemen lain, seperti ISO 50001 Sistem Manajemen management systems, such as ISO 50001 for Energy
Energi, ISO 42001 Artificial Intelligence System, dan lain-lain. Management, ISO 42001 for Artificial Intelligence Management,
Untuk itu, Perseroan telah menerapkan peta jalan) pengembangan and others. To support this vision, the Company has established
GIMS pada tahun 2024- 2029 sebagai berikut: a GIMS development roadmap for the 2024–2029 period,
outlined as follows:
Tahun Implementasi Sertifikasi Akreditasi
Gap Assessment
Year Implementation Certification Accreditation
2024 • ISO 20000-1: 2018 • ISO 55001:2024 • ISO 9001: 2015 • ISO 17025:2017
(IT Service Management (Asset Management System ) (Quality Management System) (Sistem Manajemen Mutu
System) • ISO 20000-1: 2018 • ISO 14001 : 2015 Laboratorium)
(IT Service Management System) (Environmental Management System) (Laboratory Quality
• ISO 45001:2018 Management System)
(Occupational Health & Safety
Management System)
• ISO 37001: 2016
(Anti Bribery Management System)
• ISO 22301 : 2019
(Business Continuity Management
System )
• ISO 27001: 2022
(Information Security Management
System)
• ISO 20000-1:2018
(IT Service Management System)
PT Pertamina Geothermal Energy Tbk
Page 193
Laporan Tahunan 2025 | 2025 Annual Report 191
Tahun Implementasi Sertifikasi Akreditasi
Gap Assessment
Year Implementation Certification Accreditation
2025 ISO 55001:2024 (Asset ISO 55001:2024 (Asset • ISO 9001: 2015 (Quality ISO 17025:2017
Management System) Management System) Management System) (Sistem Manajemen Mutu
• ISO 14001 : 2015 (Environmental Laboratorium)
Management System) (Laboratory Quality
• ISO 45001:2018 (Occupational Management System)
Health & Safety Management
System)
• ISO 37001: 2016 (Anti Bribery
Management System)
• ISO 22301 : 2019 (Business
Continuity Management System)
• ISO 27001: 2022 (Information
Security Management System)
• ISO 20000-1:2018 (IT Service
Management System)
2026 ISO 50001: 2018 (Energy • ISO 55001:2024 • ISO 9001: 2015 (Quality ISO 17025:2017
Management System) (Asset Management System) Management System) (Sistem Manajemen Mutu
• ISO 50001: 2018 (Energy • ISO 14001: 2015 (Environmental Laboratorium)
Management System) Management System) (Laboratory Quality
• ISO 45001:2018 (Occupational Management System)
Health & Safety Management
System)
• ISO 37001: 2016 (Anti Bribery
Management System)
• ISO 22301 : 2019 (Business
Continuity Management System)
• ISO 27001: 2022 (Information
Security Management System)
• ISO 20000-1:2018 (IT Service
Management System)
2027 - • ISO 55001:2024 • ISO 9001: 2015 (Quality ISO 17025:2017
(Asset Management System) Management System) (Sistem Manajemen Mutu
• ISO 50001: 2018 (Energy • ISO 14001: 2015 (Environmental Laboratorium)
Management System) Management System) (Laboratory Quality
• ISO 45001:2018 (Occupational Management System)
Health & Safety Management
System)
• ISO 37001: 2016 (Anti Bribery
Management System)
• ISO 22301 : 2019 (Business
Continuity Management System)
• ISO 27001: 2022 (Information
Security Management System)
• ISO 20000-1:2018 (IT Service
Management System)
2028 ISO 42001:2023 (Artificial • ISO 55001:2024 • ISO 9001: 2015 (Quality ISO 17025:2017
Intelligence) (Asset Management System) Management System) (Sistem Manajemen Mutu
• ISO 50001: 2018 (Energy • ISO 14001: 2015 (Environmental Laboratorium)
Management System) Management System) (Laboratory Quality
• ISO 42001: 2023 (Artificial • ISO 45001:2018 (Occupational Management System)
Intelligence) Health & Safety Management
System)
• ISO 37001: 2016 (Anti Bribery
Management System )
• ISO 22301 : 2019 (Business
Continuity Management System)
• ISO 27001: 2022 (Information
Security Management System)
• ISO 20000-1:2018 (IT Service
Management System)
PT Pertamina Geothermal Energy Tbk
Page 194
192 Laporan Tahunan 2025 | 2025 Annual Report
Tahun Implementasi Sertifikasi Akreditasi
Gap Assessment
Year Implementation Certification Accreditation
2029 - • ISO 55001:2024 • ISO 9001: 2015 (Quality ISO 17025:2017
(Asset Management System) Management System) (Sistem Manajemen Mutu
• ISO 50001: 2018 (Energy • ISO 14001: 2015 (Environmental Laboratorium)
Management System) Management System) (Laboratory Quality
• ISO 42001: 2023 (Artificial • ISO 45001:2018 (Occupational Management System)
Intelligence) Health & Safety Management
System)
• ISO 37001: 2016 (Anti Bribery
Management System)
• ISO 22301 : 2019 (Business
Continuity Management System)
• ISO 27001: 2022 (Information
Security Management System)
• ISO 20000-1:2018 (IT Service
Management System)
1. Integrated Internal Audit, akan dilakukan Audit Sertifikasi jika diperlukan | Integrated Internal Audit, Certification Audit will be conducted if necessary.
2. Akreditasi/Implementasi ISO 17025:2017 untuk Laboratorium PGE | Accreditation/Implementation of ISO 17025:2017 for PGE Laboratory.
Sistem Manajemen Layanan Teknologi Reliable Information Technology Service
Informasi yang Andal Management System
PGE telah tersertifikasi ISO 20000-1 tentang Sistem Manajemen PGE achieved ISO 20000-1 certification for its Information
Layanan Teknologi Informasi (SMLTI) sejak tahun 2024. Pemenuhan Technology Service Management System (ITSMS) in 2024.
sertifikasi berstandar internasional tersebut merupakan bentuk Fulfillment of this international standard certification is a form
komitmen Perseroan dalam memberikan layanan manajemen of the Company’s commitment to providing quality, reliable
Teknologi Informasi (TI) yang berkualitas, dapat diandalkan, dan Information Technology (IT) management services in accordance
sesuai dengan standar internasional. with international standards.
Sertifikasi ini mencerminkan dedikasi Perseroan dalam This certification underscores the Company’s commitment to
meningkatkan efisiensi operasional, kepuasan pelanggan, serta enhancing operational efficiency, customer satisfaction, and
kepatuhan terhadap praktik terbaik dalam pengelolaan layanan adherence to industry best practices in information technology
teknologi informasi. Implementasi SMLTI di Perseroan meliputi: service management. The implementation of ITSMS within the
Company encompasses:
1. Layanan Service Desk 1. Service Desk Services
2. Layanan Pengelolaan Aplikasi, termasuk kegiatan 2. Application Management Services, including troubleshooting
troubleshooting terkait: and support for:
a. Aplikasi IPGE terkait operasional internal di PGE; dan a. The IPGE Application, supporting PGE’s internal
operations activities; and
b. PGE Audit Sistem (PAS) Pertamina terkait sistem b. Pertamina’s PGE Audit System (PAS), related to the
manajemen di PGE. Company‘s management system oversight.
Sistem Manajemen Kemananan Reliable Information Security
Informasi yang Andal Management System
PGE telah tersertifikasi Sistem Manajemen Kemananan Informasi PGE has been certified as an Information Security Management
sejak tahun 2023 Pemenuhan sertifikasi berstandar internasional System (ISMS) since 2023. Fulfilling this internationally
tersebut merupakan bentuk komitmen Perseroan untuk menjaga standardized certification demonstrates the Company’s
integritas, kerahasiaan, dan ketersediaan informasi dalam suatu commitment to maintaining the integrity, confidentiality, and
organisasi. Manfaat utama implementasi SMKI adalah: availability of information within an organization. The main
benefits of implementing an ISMS are:
1. Perlindungan Data dan Informasi 1. Data and Information Protection:
Mencegah kebocoran, kehilangan, atau penyalahgunaan Prevent data leakage, loss, or misuse through rigorous
data melalui kontrol keamanan yang ketat. security controls.
2. Kepatuhan terhadap Regulasi 2. Regulatory Compliance
Memastikan perusahaan mematuhi standar internasional dan Ensure the Company complies with international standards
peraturan hukum terkait perlindungan data. and legal regulations related to data protection.
PT Pertamina Geothermal Energy Tbk
Page 195
Laporan Tahunan 2025 | 2025 Annual Report 193
3. Kepercayaan Pelanggan 3. Increase Customer Trust
Menunjukkan komitmen perusahaan dalam menjaga Demonstrate the Company’s commitment to maintaining
keamanan informasi, meningkatkan reputasi bisnis. information security, improving reputation.
4. Mengurangi Risiko Keamanan 4. Reduce Security Risks
Mencegah serangan siber, malware, dan akses tidak sah Prevent cyber attacks, malware, and unauthorized access to
terhadap sistem perusahaan. company systems.
5. Efisiensi Operasional 5. Operational Efficiency
Mengoptimalkan pengelolaan keamanan informasi dengan Optimize information security management with clear and
prosedur yang jelas dan sistematis. systematic procedures.
6. Tanggap terhadap Insiden 6. Incident Response
Memiliki mekanisme yang siap untuk mendeteksi, merespons, Have a mechanism in place to detect, respond, and recover
dan memulihkan gangguan keamanan dengan cepat. security breaches quickly.
7. Keunggulan Kompetitif 7. Competitive Advantage
Memberikan nilai tambah bagi perusahaan dibandingkan Provide added value to the Company compared to competitors
pesaing yang belum menerapkan standar keamanan who have not implemented information security standards.
informasi.
Keberlangsungan Siklus Asset Sustainability of the Asset Management
Management System System Cycle
Perseroan memiliki komitmen untuk menjaga keberlangsungan PGE is committed to maintaining the sustainability of its
siklus sistem manajemen aset. Sebagai wujud dari komitmen asset management system cycle. As a manifestation of this
tersebut, Perseroan menerapkan standar mutu ISO 55001 Asset commitment, the Company has adopted the ISO 55001 Asset
Management System di seluruh unit operasi. Selain itu, Perseroan Management System quality standard across all operating units.
juga telah memiliki pedoman Perencanaan dan Pengelolaan Furthermore, the Company has also established Strategic Asset
Aset Strategis dengan No. A-001/PGE210/2023-S9 untuk Planning and Management guidelines under Decree No. A-001/
mengoptimalkan kerja sama antar departemen terkait manajemen PGE210/2023-S9 aimed at enhancing cross-departmental
aset. coordination and optimizing asset management practices.
Pembangunan fondasi dan penataan sistem tersebut telah The foundation development and system structure have
dilaksanakan sejak tahun 2023. Inisiatifnya dimulai dari been implemented since 2023. The initiative began with the
identifikasi gap strategis hingga implementasi awal framework, identification of strategic gaps and the initial implementation
proses, dan tools. Perseroan berhasil menempatkan struktur of the framework, processes, and tools. The Company has
manajemen aset yang lebih terarah, terstandardisasi. successfully implemented a more focused and standardized asset
management structure.
Tahun 2024 menjadi momentum penting, karena merupakan 2024 is a crucial year, marking the comprehensive implementation
fase implementasi menyeluruh dari sistem yang telah dibangun phase of the previously established system. By strengthening the
sebelumnya. Dengan penguatan pada aspek performance, performance aspect, reliability, asset lifecycle, maintenance, and
reliability, asset lifecycle, maintenance, dan RCS yang RCS integrated within the CMMS, the Company is increasingly
terintegrasi dalam CMMS, Perseroan semakin matang dalam mature in sustainable, reliable, and long-term performance-
pengelolaan aset dan operasional yang berkelanjutan, andal, oriented asset and operational management.
serta berorientasi pada kinerja jangka panjang.
Tahun 2025 merupakan fase konsolidasi dan evaluasi strategis. 2025 marks a phase of strategic consolidation and evaluation. The
Sistem telah masuk tahap transaksi penuh melalui SAP, sementara system has entered a fully transactional phase through SAP, while
evaluasi eksternal dan internal memberikan gambaran objektif external and internal evaluations provide an objective picture
mengenai posisi organisasi saat ini. Walaupun terdapat non of the organization’s current position. Even though there is non-
conformity, hal ini justru memperjelas area prioritas perbaikan, conformity, this actually clarifies priority areas for improvement,
khususnya pada Material Management dan integrasi spare part particularly in Material Management and reliability-based spare
berbasis reliability. part integration.
Dengan penyelesaian fase ini, Perseroan berada pada jalur yang With the completion of this phase, the Company is on a more
lebih terstruktur dan terukur menuju target sertifikasi tahun 2028. structured and measurable path towards its 2028 certification
target.
PT Pertamina Geothermal Energy Tbk
Page 196
194 Laporan Tahunan 2025 | 2025 Annual Report
Tinjauan Keuangan
Financial Review
Tinjauan keuangan PT Pertamina Geothermal Energy Tbk The financial review of PT Pertamina Geothermal Energy Tbk
(“Perseroan” atau “PGE”) disusun berdasarkan Laporan (the “Company” or “PGE”) is prepared based on the Company’s
Keuangan Perseroan yang berakhir pada tanggal 31 Desember Financial Statements for the year ended 31 December 2025,
2025, yang diaudit oleh Kantor Akuntan Publik Purwanto Susanti which were audited by the Public Accounting Firm Purwanto,
dan Surja (EY) dengan opini Wajar dalam semua hal yang Susanti and Surja (EY) with an unqualified opinion in all material
material. respects.
Uraian mengenai kinerja keuangan Perseroan dalam Laporan ini The discussion of the Company’s financial performance in this
disusun berdasarkan Laporan Keuangan, yang disajikan sesuai Report is prepared based on the Financial Statements, which are
Pernyataan Standar Akuntansi Keuangan (PSAK) yang berlaku presented in accordance with the Financial Accounting Standards
umum di Indonesia. Laporan Keuangan meliputi 2 (dua) tahun (PSAK) generally accepted in Indonesia. The Financial Statements
buku, yang berakhir pada 31 Desember 2025 dan 31 Desember cover two financial years, ending on 31 December 2025 and
2024 sebagai pembanding. Bahasan kinerja keuangan 31 December 2024 as the comparative period. The discussion
disampaikan dengan memperhatikan penjelasan pada catatan of financial performance is presented with reference to the
Laporan Keuangan, sebagai bagian tidak terpisahkan dari explanations provided in the Notes to the Financial Statements,
Laporan Tahunan ini. which form an integral part of this Annual Report.
Laporan Posisi Keuangan Konsolidasian Consolidated Statement of Financial
Position
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Aset
Assets
Aset Lancar
880.973 828.555 52.418 6,33
Current Assets
Aset Tidak Lancar
2.153.478 2.168.847 (15.369) (0,71)
Non-Current Assets
Jumlah Aset
3.034.451 2.997.402 37.049 1,24
Total Assets
Liabilities
Liabilitas
Liabilitas Jangka Pendek
214.299 227.296 (12.997) (5,72)
Current Liabilities
Liabilitas Jangka Panjang
774.589 761.354 13.235 1,74
Non-Current Liabilities
Jumlah Liabilitas
988.888 988.650 238 0,02
Total Liabilities
Ekuitas
Equity
Jumlah Ekuitas
2.045.563 2.008.752 36.811 1,83
Total Equity
Liabilitas dan Ekuitas
3.034.451 2.997.402 37.049 1,24
Liabilities and Equity
PT Pertamina Geothermal Energy Tbk
Page 197
Laporan Tahunan 2025 | 2025 Annual Report 195
Aset Assets
Pada tanggal 31 Desember 2025, Perseroan mencatat total aset As of 31 December 2025, the Company recorded total assets of
sebesar USD3.034.451 ribu, meningkat sebesar USD37.049 USD3,034,451 thousand, an increase of USD37,049 thousand
ribu atau 1,24% dibandingkan dengan posisi pada tahun or 1.24% compared to the 2024 position. This increase was
2024. Peningkatan ini terutama didorong oleh pertumbuhan aset primarily driven by the growth in current assets, in line with the
lancar, seiring dengan percepatan realisasi penerimaan atas accelerated collection of receivables from November billings,
tagihan bulan November yang telah diselesaikan pada bulan which were settled in December 2025. Furthermore, the rise in
Desember 2025. Selain itu, kenaikan aset juga dipengaruhi oleh assets was also attributable to additional revenues generated
tambahan penerimaan yang berasal dari penjualan listrik Area from electricity sales from the Lumut Balai Unit 2 Area.
Lumut Balai Unit 2.
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Aset Lancar
880.973 828.555 52.418 6,33
Current Assets
Aset Tidak Lancar
2.153.478 2.168.847 (15.369) (0,71)
Non-Current Assets
Jumlah Aset
3.034.451 2.997.402 37.049 1,24
Total Assets
Aset Lancar Current Assets
Per 31 Desember 2025, jumlah aset lancar Perseroan tercatat As of 31 December 2025, the Company’s current assets
sebesar USD880.973 ribu, meningkat 6,33% dibandingkan amounted to USD880,973 thousand, representing an increase of
dengan USD828.555 ribu pada tahun sebelumnya. Peningkatan 6.33% compared to USD828,555 thousand in the previous year.
ini mencerminkan penguatan likuiditas Perseroan yang didorong This increase reflects the strengthening of the Company’s liquidity,
oleh optimalisasi siklus kas, khususnya melalui percepatan driven by the optimization of its cash cycle, particularly through
realisasi penerimaan pada akhir tahun. the accelerated realization of receipts at year-end.
Di samping itu, peningkatan aset lancar turut ditopang oleh In addition, the growth in current assets was further supported
kinerja operasional yang semakin kuat, yang tercermin dari by improving operational performance, as reflected in the
capaian produksi pada level tertinggi sepanjang sejarah achievement of the highest production level in the Company’s
Perseroan. Hal ini didukung oleh tambahan kapasitas produksi history. This was driven by the additional production capacity
setelah beroperasinya Area Lumut Balai Unit 2 sejak Juni 2025. following the commencement of operations of the Lumut Balai Unit
2 Area in June 2025.
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Kas dan Setara Kas
718.499 655.191 63.308 9,66
Cash and Cash Equivalents
Kas yang dibatasi penggunaannya
489 237 252 106.33
Restricted Cash
Piutang Usaha
126.229 128.125 (1.896) (1,48)
Accounts Receivable
Piutang Lain-lain
5.188 4.139 1.049 25,34
Other Receivables
Persediaan
27.970 18.486 9.484 51,30
Inventories
Pajak Pertambahan Nilai (“PPN”) yang Dapat
Ditagihkan Kembali-Bagian Lancar
411 17.175 (16.213) (94,40)
Recoverable Value Added Tax (“VAT”)-Current
Portion
Pajak Dibayar Di Muka
551 - - 100,00
Prepaid Taxes
PT Pertamina Geothermal Energy Tbk
Page 198
196 Laporan Tahunan 2025 | 2025 Annual Report
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Biaya Dibayar Di Muka
1.362 122 1.240 1.016,39
Prepaid Expenses
Aset Lain-lain
274 5.080 (4.806) (94,61)
Other Assets
Jumlah Aset
880.973 828.555 52.418 6,33
Total Assets
Kas dan Setara Kas Cash and Cash Equivalents
Per 31 Desember 2025, kas dan setara kas Perseroan tercatat As of 31 December 2025, the Company’s cash and cash
sebesar USD718.499 ribu, meningkat 9,66% dibandingkan equivalents amounted to USD718,499 thousand, representing
dengan USD655.191 ribu pada tahun sebelumnya. Peningkatan an increase of 9.66% compared to USD655,191 thousand in
ini mencerminkan penguatan posisi kas Perseroan yang didorong the previous year. This increase reflects a stronger cash position,
oleh kinerja pendapatan yang lebih tinggi serta pengelolaan driven by higher revenue performance as well as improved cash
arus kas yang semakin optimal sepanjang tahun. flow management throughout the year.
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Kas pada Bank
193.499 155.191 38.308 24,68
Cash in Banks
Deposito Jangka Pendek
525.000 500.000 25.000 5,00
Short-Term Deposits
Jumlah Kas dan Setara Kas
718.499 655.191 63.308 9,66
Cash and Cash Equivalents
Piutang Usaha Accounts Receivable
Per 31 Desember 2025, piutang usaha Perseroan tercatat As of 31 December 2025, the Company’s accounts receivable
sebesar USD126.229 ribu, menurun 1,48% dibandingkan amounted to USD126,229 thousand, representing a decrease
dengan USD128.125 ribu pada tahun sebelumnya. Penurunan of 1.48% compared to USD128,125 thousand in the previous
ini sejalan dengan peningkatan efektivitas pengelolaan piutang year. This decline is in line with the improved effectiveness of
dan percepatan siklus penagihan, sebagaimana tercermin dalam receivables management and the acceleration of the collection
optimalisasi realisasi penerimaan pada akhir tahun. cycle, as reflected in the optimization of cash collections at year-
end.
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Pihak yang Berelasi
122.757 124.627 (1.870) (1,50)
Related Parties
Pihak Ketiga
3.472 3.498 (26) (0,74)
Third Parties
Jumlah Piutang Usaha
126.229 128.125 (1.896) (1,48)
Amount of Accounts Receivable
Piutang Lain-lain Other Receivables
Per 31 Desember 2025, piutang lain-lain Perseroan tercatat As of 31 December 2025, the Company’s other receivables
sebesar USD5.188 ribu, meningkat 25,34% dibandingkan amounted to USD5,188 thousand, representing an increase of
dengan USD4.139 ribu pada tahun sebelumnya. Peningkatan ini 25.34% compared to USD4,139 thousand in the previous year.
PT Pertamina Geothermal Energy Tbk
Page 199
Laporan Tahunan 2025 | 2025 Annual Report 197
terutama didorong oleh kenaikan pengakuan pendapatan bunga This increase was primarily driven by higher recognition of
dalam bentuk akrual atas penempatan deposito sepanjang tahun interest income in the form of accrued income from time deposits
2025. throughout 2025.
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Pihak yang Berelasi
5.051 4.041 1.010 24,99
Related Parties
Pihak Ketiga
137 98 39 39,80
Third Parties
Jumlah Piutang Lain-lain
5.188 4.139 1.049 25,34
Total Other Receivables
Persediaan Inventory
Per 31 Desember 2025, persediaan Perseroan tercatat sebesar As of 31 December 2025, the Company’s inventories amounted
USD27.970 ribu, meningkat 51,30% dibandingkan dengan to USD27,970 thousand, representing an increase of 51.30%
USD18.486 ribu pada tahun sebelumnya. Peningkatan ini sejalan compared to USD18,486 thousand in the previous year. This
dengan peningkatan pelaksanaan proyek pengembangan panas increase is in line with the intensified implementation of the
bumi yang tengah dijalankan Perseroan. Company’s ongoing geothermal development projects.
Kenaikan persediaan tersebut mencerminkan komitmen The rise in inventories reflects the Company’s commitment to
Perseroan dalam mendukung percepatan penyelesaian target supporting the acceleration of its future development targets.
pengembangan ke depan.
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Material Pemboran
18.295 9.242 9.053 97,95
Drilling Materials
Suku Cadang
7.558 7.309 249 3,41
Spare Parts
Pipa
3.986 3.937 49 1,24
Pipes
Pelumas dan Bahan Kimia
59 60 (1) (1,67)
Lubricants and Chemicals
Penyisihan Penurunan Nilai
(1.928) (2.062) 134 (6,50 )
Provision for Impairment
Jumlah Persediaan
27.970 18.486 9.484 51,30
Total Inventory
Biaya Dibayar di Muka Prepaid Expenses
Jumlah biaya dibayar di muka Perseroan per 31 Desember The Company’s prepaid expenses as of 31 December 2025,
2025 adalah sebesar USD1.362 ribu, meningkat 1.016,39% amounted to USD1,362 thousand, an increase of 1,016.39%
dibandingkan periode yang sama tahun sebelumnya, yakni compared to USD122 thousand in the same period last year.
sebesar USD122 ribu. Peningkatan biaya dibayar dimuka di The increase in prepaid expenses was mainly attributable to
sebabkan oleh penyelesaian pembayaran premi asuransi yang the settlement of insurance premium payments made in 2025.
dilakukan pada tahun 2025. Pada tahun 2024, tidak terdapat In 2024, no premium payments were made; therefore, the
pembayaran premi sehingga saldo yang tercatat nihil (USD0), recorded balance was nil (USD0),. In contrast, in 2025 the
sedangkan pada tahun 2025 tercatat sebesar USD1.277 ribu balance amounted to USD1,277 thousand, representing the net
yang merupakan nilai bersih setelah amortisasi, dengan kenaikan value after amortization, with an annual increase in premiums of
premi sebesar USD828 ribu secara tahunan. USD828 thousand.
PT Pertamina Geothermal Energy Tbk
Page 200
198 Laporan Tahunan 2025 | 2025 Annual Report
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Asuransi dibayar di muka
1.277 0* 1.277 100,00
Prepaid Insurance
Biaya Sewa dibayar di muka
76 112 (36) (32,14)
Prepaid Rental Fees
Biaya Perjalanan dibayar di muka
9 10 (1) (10.00)
Prepaid Travel Fees
Jumlah Piutang Lain-lain
1.362 122 1.240 1.016,39
Total Other Receivables
*Dibayarkan pada Januari 2025 sebesar USD2.237,62 ribu, dengan sisa manfaat premi per 31 Desember 2024 sebesar USD932 ribu.
*Paid in January 2025 in the amount of USD2,237.62 thousand, with the remaining premium benefit as of 31 December 2024 amounting to USD932 thousand.
Aset Lain-lain Other Assets
Jumlah aset lain-lain Perseroan per 31 Desember 2025 tercatat The Company’s other assets as of 31 December 2025, the
sebesar USD274 ribu, menurun 94,6% dibandingkan dengan balance amounted to USD274 thousand, representing a decrease
USD5.080 ribu pada periode yang sama tahun sebelumnya. of 94.6% compared to USD5,080 thousand in the same period
Penurunan ini terutama disebabkan oleh berkurangnya saldo of the previous year. This decline was primarily attributable to the
uang muka kepada pihak ketiga dan pihak berelasi, seiring reduction in advances to third parties and related parties, in line
dengan telah dengan telah beroperasinya PLTP Lumut Balai with the commencement of operations of the Lumut Balai Unit 2
unit 2. Geothermal Power Plant.
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Uang Muka Pihak Ketiga
- 3.463 (3.463) (100,00)
Third Party Advances
Uang Muka Pihak Relasi
86 1.429 (1.343) (93,98 )
Related Party Advances
Biaya yang Ditangguhkan
188 188 (0) 0
Deferred Charges
Jumlah Aset lain-lain
274 5.080 (4.806) (94,61)
Total Other Assets
Aset Tidak Lancar Non-Current Assets
Aset tidak lancar Perseroan per 31 Desember 2025 tercatat As of 31 December 2025, the Company’s non-current assets
sebesar USD2.153.478 ribu, menurun 0,71% dibandingkan amounted to USD2,153,478 thousand, representing a decrease
dengan USD2.168.847 ribu pada periode yang sama tahun of 0.71% compared to USD2,168,847 thousand in the same
sebelumnya. Penurunan yang terjadi pada aset tidak lancar period of the previous year. in the same period last year. The
pada tahun 2025 disebabkan oleh beban depresiasi terhadap decrease in non-current assets in 2025 was due to depreciation
aset-aset yang sudah beroperasi. expense on assets already in operation.
PT Pertamina Geothermal Energy Tbk
Page 201
Laporan Tahunan 2025 | 2025 Annual Report 199
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Kas yang dibatasi penggunaannya
- 185 (185) (100,00)
Restricted Cash
Piutang Lain-lain Pihak Berelasi
6.934 7.529 (595) (7,90)
Other Receivables from Related Parties
Aset Tetap, Bersih
2.000.149 2.024.607 (24.458) (1,21)
Fixed Assets, Net
Aset Hak Guna, Bersih
3.621 4.215 (594) (14,09)
Right-of-Use Assets, Net
Investasi pada ventura bersama
12.133 12.093 40 0,33
Investment in Joint Ventures
PPN yang Dapat Ditagihkan Kembali – Bagian Tidak Lancar
100.835 98.460 2.375 2,41
Recoverable VAT – Non-Current Portion
Aset Keuangan yang Dinilai Pada Nilai Wajar Melalui
Pendapatan Komprehensif Lain
29.764 21.716 8.048 37,06
Financial Assets at Fair Value Through Other Comprehensive
Income
Aset Lain-lain, Bersih
42 42 - 0
Other Assets, Net
Jumlah Aset Tidak Lancar
2.153.478 2.168.847 (15.369) (0,71)
Total Non-Current Assets
Piutang Lain-lain Pihak Berelasi Tidak Other Non-Current Receivables from
Lancar Related Parties
Jumlah piutang lain-lain pihak yang berelasi per 31 Desember Total other receivables from related parties as of 31 December
2025 adalah sebesar USD12.122 ribu, meningkat 3,89% 2025, was USD12.122 thousand, an increase of 3.89%
dibandingkan periode yang sama tahun sebelumnya yang compared to USD11.668 thousand in the same period last year.
sebesar USD11.668 ribu. Peningkatan ini terutama didorong This increase was primarily driven by the collection of accounts
oleh realisasi piutang yang berasal dari aktivitas terkait jaringan receivable from activities related to the transmission network.
transmisi.
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Bagian Lancar
5.188 4.139 1.049 25,34
Current Portion
Piutang lain-lain - pihak berelasi tidak lancar
6.934 7.529 (595) (7,90)
Other receivables - related parties - non-current
Jumlah Piutang Lain-lain Pihak Berelasi
12.122 11.668 454 3,89
Total Other Receivables - Related Parties
Aset Tetap Fixed Assets
Jumlah Aset Tetap Perseroan per 31 Desember 2025 adalah The Company’s total fixed assets as of 31 December 2025,
sebesar USD2.000.149 ribu, menurun 1,21% dibandingkan were USD2,000,149 thousand, a decrease of 1.21% compared
tahun sebelumnya yang sebesar USD2.024.607 ribu. Penurunan to USD2,024,607 thousand in the previous year. The decrease
nilai aset tetap terutama dipengaruhi oleh pengakuan beban in fixed assets was primarily attributable to the recognition of
depresiasi selama tahun berjalan, yakni sebesar USD126.240 depreciation expense during the year, amounting to USD126,240
ribu. thousand.
PT Pertamina Geothermal Energy Tbk
Page 202
200 Laporan Tahunan 2025 | 2025 Annual Report
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Biaya Perolehan
Acquisition Cost
Tanah dan hak atas tanah 22.321 19.220 3.101 16,13
Land and Land Rights
Sumur Panas Bumi 1.270.795 1.112.038 158.757 14,28
Geothermal Wells
Instalasi 959.850 779.678 180.172 23,11
Installations
Bangunan 272.841 192.048 80.793 42,07
Buildings
Harta Benda Bergerak 35.083 32.353 2.730 8,44
Movable Property
Sub Jumlah 2.560.890 2.135.337 425.553 19,93
Subtotal
Aset dalam Penyelesaian
Construction in Progress
Aset Eksplorasi 169.438 169.286 152 0,09
Exploration Assets
Aset Pengembangan 456.731 780.654 (323.923) (41,49)
Development Assets
Sub Jumlah 626.169 949.940 (323.771) (34,08)
Subtotal
Jumlah biaya perolehan
3.187.059 3.085.277 101.782 3,30
Total Acquisition Cost
Akumulasi Penyusutan
Accumulated Depreciation
Sumur Panas Bumi (486.015) (430.239) (55.776) (12,96)
Geothermal Wells
Instalasi (463.439) (410.100) (53.339) 13,01
Installations
Bangunan (96.576) (81.303) (15.273) 18,79
Buildings
Harta Benda Bergerak (28.293) (26.441) (1.852) 7,00
Movable Property
Jumlah Akumulasi Penyusutan
(1.074.323) (948.083) (126.240) 13,32
Total Accumulated Depreciation
Penyisihan Penurunan Nilai
(112.587) (112.587) - 0
Provision for Impairment
Nilai buku bersih
2.000.149 2.024.607 (24.458) (1,21)
Net Book Value
Aset Hak Guna Right-of-Use Assets
Jumlah Aset Hak Guna Perseroan per 31 Desember 2025 The Company’s total Right-of-Use Assets as of 31 December
mencapai USD3.621 ribu, menurun 14,09% dibandingkan 2025, reached USD3,621 thousand, representing a decrease
dengan USD4.215 ribu pada periode yang sama tahun of 14.09% compared to USD4,215 thousand in the same period
sebelumnya. Penurunan ini terutama disebabkan oleh pengakuan of the previous year, primarily attributable to the recognition of
beban depresiasi selama tahun berjalan sebesar USD813 ribu. depreciation expense during the year, amounting to USD813
thousand.
PT Pertamina Geothermal Energy Tbk
Page 203
Laporan Tahunan 2025 | 2025 Annual Report 201
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Biaya Perolehan
Acquisition Cost
Kendaraan 2.855 2.317 538 23,22
Vehicles
Gedung 2.885 3.204 (319) (9,96)
Buildings
Jumlah biaya perolehan 5.740 5.521 219 3,97
Total Acquisition Cost
Akumulasi Penyusutan
Accumulated Depreciation
Kendaraan (1.397) (1.226) (171) 13,95
Vehicles
Gedung (722) (80) (642) 802,50
Buildings
Jumlah Akumulasi Penyusutan (2.119) (1.306) (813) 62,25
Total Accumulated Depreciation
Jumlah Aset Hak Guna 3.621 4.215 (594) (14,09)
Total Right-of-Use Assets
PPN yang Dapat Ditagihkan Kembali- Recoverable VAT-Non-Current Portion
Bagian Tidak Lancar
Jumlah PPN yang Dapat Ditagihkan Kembali - Bagian Tidak Lancar The Company’s total Recoverable VAT – Non-Current Portion as of
Perseroan per 31 Desember 2025 adalah sebesar USD100.835 31 December 2025, was USD100,835 representing an increase
ribu, meningkat 2,41% dibandingkan dengan USD98.460 of 2.41% compared to USD98,460 thousand in the previous
ribu pada tahun sebelumnya. Peningkatan ini sejalan dengan year. This increase is in line with the Company’s efforts to submit
upaya Perseroan dalam mengajukan permohonan permohonan claims for the recovery of refundable VAT to the Government.
pembayaran kembali atas PPN yang dapat ditagihkan kembali
kepada Pemerintah.
Aset Keuangan yang Dinilai pada Financial Assets Valued at Fair Value
Nilai Wajar Melalui Pendapatan Through Other Comprehensive Income
Komprehensif Lain
Jumlah Aset Keuangan yang Dinilai pada Nilai Wajar Melalui The Company’s total Financial Assets Valued at Fair Value
Pendapatan Komprehensif Lain Perseroan per 31 Desember Through Other Comprehensive Income as of 31 December
2025 adalah sebesar USD29.764 ribu, meningkat 37,06% 2025, was USD29,764 thousand, an increase of 37.06%
dibandingkan tahun sebelumnya sebesar USD21.716 ribu. compared to USD21,716 thousand in the previous year. This
Peningkatan ini terutama dipengaruhi oleh penyesuaian atas increase was primarily influenced by adjustments arising from the
pengukuran kembali nilai wajar, setelah memperhitungkan biaya remeasurement of fair value, after taking into account the costs to
pelepasan pada investasi di perusahaan asosiasi. dispose of investments in an associate.
Aset Lain-lain - Bersih Other Assets - Net
Jumlah Aset Lain-lain Perseroan per 31 Desember 2025 adalah The Company’s Other Assets as of 31 December 2025, were
sebesar USD42 ribu, tidak mengalami perubahan dari tahun USD42 thousand, remaining unchanged from the previous year.
sebelumnya yang juga sebesar USD42 ribu.
PT Pertamina Geothermal Energy Tbk
Page 204
202 Laporan Tahunan 2025 | 2025 Annual Report
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Persediaan Usang dan Tidak Terpakai
299 299 - -
Obsolete and Unused Inventories
Aset Tetap Tidak Terpakai, Bersih
42 42 - -
Unused Fixed Assets, Net
Sub Jumlah
341 341 - -
Subtotal
Penyisihan Persediaan Usang dan Tidak Terpakai
(299) (299) - -
Provision for Obsolete and Unused Inventories
Jumlah Aset Lain-lain, Bagian tidak lancar
42 42 - -
Total Other Assets, Non-current Portion
LIABILITAS LIABILITIES
Jumlah Liabilitas Perseroan per 31 Desember 2025 adalah sebesar The Company’s total liabilities as of 31 December 2025, were
USD988.888 ribu, meningkat sebesar 0,02% dibandingkan USD988,888 thousand, an increase of 0.02% compared to
dengan USD988.650 ribu pada tahun sebelumnya. Peningkatan USD988,650 thousand in the previous year. This increase was
ini terutama dipengaruhi oleh kenaikan liabilitas jangka primarily driven by the rise in non-current liabilities, as a result of
panjang, sebagai akibat penambahan penarikan pinjaman dari additional loan drawdowns from Japan International Cooperation
Japan International Cooperation Agency (JICA) yang digunakan Agency (JICA), which were utilized to support the development
untuk mendukung pengembangan proyek PLTP Lumut Balai Unit of the Lumut Balai Unit 2 Geothermal Power Plant project during
2 selama tahun berjalan. the year.
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Liabilitas
Liabilities
Liabilitas Jangka Pendek
214.299 227.296 (12.997) (5,72)
Current Liabilities
Liabilitas Jangka Panjang
774.589 761.354 13.235 1,74
Long-Term Liabilities
Jumlah Liabilitas
988.888 988.650 238 0,02
Total Liabilities
Liabilitas Jangka Pendek Short-Term Liabilities
Jumlah Liabilitas Jangka Pendek Perseroan per 31 Desember The Company’s short-term liabilities as of 31 December 2025,
2025 mencapai USD214.299 ribu, menurun 5,72% reached USD214,299 thousand, decrease of 5.72% compared
dibandingkan dengan USD227.926 ribu pada periode yang to USD227,926 thousand in the same period of the previous
sama tahun sebelumnya. Penurunan ini terutama disebabkan year. This decline was primarily attributable to the settlement of
oleh penyelesaian utang usaha serta biaya yang masih harus accounts payable as well as accrued expenses during the year.
dibayar selama tahun berjalan.
PT Pertamina Geothermal Energy Tbk
Page 205
Laporan Tahunan 2025 | 2025 Annual Report 203
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Utang Usaha
88.530 96.795 (8.265) (8,54)
Accounts Payable
Utang Lain-lain Pihak yang Berelasi
7.275 10.137 (2.862) (28,23)
Other Payables to Related Parties
Utang Lain-lain Pihak Ketiga
2.056 - 2.056 100
Other Payables to Third Parties
Pinjaman Jangka Pendek yang Akan Jatuh Tempo dalam Satu Tahun
15.621 15.172 449 2,96
Current Maturities of Short-Term Loans
Liabilitas Sewa yang Akan Jatuh Tempo dalam Satu Tahun
1.712 1.402 310 22,11
Current Maturities of Lease Liabilities
Utang Pajak
16.969 5.755 11.214 194,86
Taxes Payable
Biaya yang Masih Harus Dibayar
66.153 88.053 (21.900) (24,87)
Accrued Expenses
Imbalan Kerja Jangka Pendek
15.717 9.694 6.023 62,13
Short-Term Employee Benefits
Pendapatan Tangguhan
266 288 (22) (7,64)
Deferred Revenue
Jumlah Liabilitas Jangka Pendek
214.299 227.296 (12.997) (5,72)
Total Current Liabilities
Utang Usaha Accounts Payable
Jumlah Utang Usaha Perseroan per 31 Desember 2025 adalah The Company’s total accounts payable as of 31 December 2025,
sebesar USD88.530 ribu, menurun 8,54% dibandingkan tahun was USD88,530 thousand, an 8.54% decrease compared
sebelumnya, yaitu sebesar USD96.795 ribu. Penurunan utang to USD96,795 thousand in the previous year. The decrease
usaha terutama disebabkan oleh penyelesaian kewajiban in accounts payable was primarily driven by the settlement of
kepada pihak ketiga atas pembelian barang dan jasa yang telah obligations to third parties for goods and services in accordance
jatuh tempo sesuai dengan tagihan dari pemasok. with supplier invoices.
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Pihak yang Berelasi
2.168 2.234 (66) (2,95)
Related Parties
Pihak Ketiga
86.362 94.561 (8.199) (8,67)
Third Parties
Jumlah Utang Usaha
88.530 96.795 (8.265) (8,54)
Total Accounts Payable
Jumlah Pinjaman Jangka Pendek yang Total Short-Term Loans Maturing Within
Akan Jatuh Tempo dalam Satu Tahun One Year
Jumlah pinjaman jangka panjang yang akan jatuh tempo dalam The total long-term loans maturing within one year as of 31
satu tahun per 31 Desember 2025 mencapai USD15.621 ribu, December 2025, reached USD15,621 thousand, a 2.96%
meningkat 2,96% dibandingkan tahun sebelumnya, yaitu sebesar increase compared to USD15,172 thousand in the previous
USD15.172 ribu. Peningkatan ini sejalan dengan kenaikan year. This increase is in line with the higher principal repayment
kewajiban pembayaran pokok pinjaman kepada International obligations to the International Bank for Reconstruction and
Bank for Reconstruction and Development (IBRD) sesuai dengan Development (IBRD), in accordance with the repayment schedule
jadwal pembayaran yang telah ditetapkan dalam perjanjian stipulated in the loan agreement.
pinjaman.
PT Pertamina Geothermal Energy Tbk
Page 206
204 Laporan Tahunan 2025 | 2025 Annual Report
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Dolar AS
9.932 9.570 362 3,78
USD
Yen 5.689 5.602 87 1,55
Jumlah Pinjaman Jangka Pendek yang Akan Jatuh Tempo
dalam Satu Tahun 15.621 15.172 449 2,96
Amount of Short-Term Loans Due in One Year
Utang Pajak Taxes Payable
Jumlah utang pajak Perseroan per 31 Desember 2025 adalah The Company’s total tax payable as of 31 December 2025,
sebesar USD16.969 ribu, meningkat 194,86% dibandingkan was USD16,969 thousand, a 194.86% increase compared
periode yang sama tahun sebelumnya, yaitu sebesar USD5.755 to USD5,755 thousand in the same period last year. This increase
ribu. Peningkatan ini terutama dipengaruhi oleh basis was primarily driven by a lower comparison base in 2024, due
perbandingan yang lebih rendah pada tahun 2024, sehubungan to the recognition of interest expenses related to the temporary
dengan adanya pembebanan bunga terkait penundaan deferral of project capitalization in accordance with PSAK 223,
sementara kapitalisasi proyek sesuai dengan ketentuan which resulted in lower tax expenses for that period.
PSAK 223, yang berdampak pada lebih rendahnya beban pajak
pada periode tersebut.
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Pajak Penghasilan
Income Tax
Pasal 4(2)
280 248 32 12,90
Article 4(2)
Pasal 21
292 774 (482) (62,27)
Article 21
Pasal 23
169 205 (36) (17,56)
Article 23
Pasal 29
15.473 1.548 13.925 899,55
Article 29
(Lebih)/Kurang Bayar Beban Pajak Penghasilan
(1.831) 331 (2.162) (653,17)
(Over)/Underpayment of Income Tax Expense
PPN
2.586 2.649 (63) (2,38)
VAT
Jumlah Utang Pajak
16.969 5.755 11.214 194,86
Amount of Tax Payable
Biaya yang Masih Harus Dibayar Accrued Expenses
Jumlah biaya yang masih harus dibayar Perseroan The Company’s accrued expenses as of 31 December 2025,
per 31 Desember 2025 adalah sebesar USD66.153 ribu, amounted to USD66,153 thousand, a 24.87% decrease from
menurun 24,87% dari tahun sebelumnya, yaitu sebesar USD88,053 thousand the previous year. This decrease was
USD88.053 ribu. Penurunan ini terutama disebabkan oleh primarily due to the settlement of accruals for services and
penyelesaian akrual atas jasa dan material yang telah diterima materials received by the Company.
oleh Perseroan.
PT Pertamina Geothermal Energy Tbk
Page 207
Laporan Tahunan 2025 | 2025 Annual Report 205
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Kontrak Barang dan Jasa
Goods and Services Contracts
Pihak yang Berelasi
2.898 5.157 (2.259) (43,80)
Related Parties
Pihak Ketiga
53.682 71.054 (17.372) (24,45)
Third Parties
Lain-lain
9.573 11.842 (2.269) (19,16)
Others
Jumlah Biaya yang Masih Harus Dibayar
66.153 88.053 (21.900) (24,87)
Amounts Accrued
Imbalan Kerja Jangka Pendek Short-Term Employee Benefits
Jumlah imbalan kerja jangka pendek Perseroan The Company’s short-term employee benefits as of 31 December
per 31 Desember 2025 mencapai USD15.717 ribu, meningkat 2025, reached USD15,717 thousand, an increase of 62.13%
62,13% dibandingkan tahun sebelumnya, yaitu sebesar compared to USD9,694 thousand the previous year. The increase
USD9.694 ribu. Peningkatan imbalan kerja jangka pendek in short-term employee benefits was primarily driven by higher
terutama disebabkan oleh bertambahnya akrual atas kompensasi accruals for employee and management compensation.
pekerja dan manajemen Perseroan.
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Insentif Pekerja - Pihak Ketiga
15.717 9.694 6.023 62,13
Employee Incentives - Third Party
Jumlah Imbalan Kerja Jangka Pendek
15.717 9.694 6.023 62,13
Short-Term Employee Benefits Amount
Pendapatan Tangguhan Deferred Revenue
Jumlah pendapatan tangguhan Perseroan per 31 Desember The Company’s deferred revenue as of 31 December 2025,
2025 mencapai USD266 ribu, atau menurun 7,64% dari tahun reached USD266 thousand, a 7.64% decrease from USD288
sebelumnya, yaitu sebesar USD288 ribu. Penurunan tersebut thousand in the previous year. The decrease was mainly due
terutama disebabkan oleh adanya penerimaan sementara yang to temporary revenue from production under the Joint Operating
berasal dari produksi dalam skema Kontrak Operasi Bersama. Contract scheme.
Liabilitas Jangka Panjang Long-Term Liabilities
Jumlah liabilitas jangka panjang Perseroan per 31 Desember The Company’s long-term liabilities as of 31 December 2025,
2025 adalah USD774.589 ribu, meningkat 1,74% were USD774,589 thousand, a 1.74% increase compared
dibandingkan tahun sebelumnya, yaitu sebesar USD761.354 to USD761,354 thousand in the previous year. This increase
ribu. Peningkatan liabilitas jangka panjang terutama disebabkan was primarily influenced by a lower base in 2024, in relation
oleh bertambahnya pinjaman jangka panjang yang digunakan to the recognition of interest expense associated with the
untuk mendanai aktivitas investasi Perseroan. temporary suspension of project capitalization in accordance with
PSAK 223, which resulted in a lower tax expense in that period.
PT Pertamina Geothermal Energy Tbk
Page 208
206 Laporan Tahunan 2025 | 2025 Annual Report
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Liabilitas Pajak Tangguhan, Bersih
25.748 21.890 3.858 17,62
Deferred Tax Liabilities, Net
Liabilitas Sewa Setelah Dikurangi Bagian yang Jatuh Tempo
dalam Satu Tahun 1.735 2.549 (814) (31,93)
Lease Liabilities Net of Current Maturities
Pinjaman Jangka Panjang Setelah Dikurangi Bagian yang Akan
Jatuh Tempo dalam Satu Tahun 334.760 328.047 6.713 2,05
Long-Term Borrowings Net of Current Maturities
Utang Obligasi
399.050 398.643 407 0,10
Bonds Payable
Imbalan Kerja Jangka Panjang
11.388 9.019 2.369 26,27
Long-Term Employee Benefits
Kewajiban Jangka Panjang Lainnya
1.908 1.206 702 58,21
Other Long-Term Liabilities
Jumlah Liabilitas Jangka Panjang
774.589 761.354 13.235 1,74
Total Long-Term Liabilities
Liabilitas Pajak Tangguhan Deferred Tax Liabilities
Jumlah liabilitas pajak tangguhan Perseroan per 31 Desember The Company’s deferred tax liabilities as of 31 December
2025 tercatat USD25.748 ribu, meningkat 17,62% dibandingkan 2025, were recorded at USD25,748 thousand, an increase
tahun sebelumnya, yaitu sebesar USD21.890 ribu. Peningkatan of 17.62% compared to USD21,890 thousand the previous
liabilitas pajak tangguhan terutama disebabkan oleh perbedaan year. The increase in deferred tax liabilities was primarily
metode depresiasi antara fiskal dan komersial, khususnya setelah attributable to differences in depreciation methods between fiscal
selesainya proyek PLTP Lumut Balai Unit 2. and commercial purposes, particularly following the completion
of the Lumut Balai Unit 2 Geothermal Power Plant Project.
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Provisi Imbalan Pekerja Perbantuan
(1.065) (1.396) 331 (23,71)
Provision for Seconded Employee Benefits
Provisi Imbalan Pekerja Perusahaan
(3.259) (2.080) (1.179) 56,68
Provision for Employee Benefits
Perubahan Nilai Wajar Aset Keuangan
10.120 7.383 2.737 37,07
Changes in Fair Value of Financial Assets
Kompensasi Berbasis Saham
(1.982) (736) (1.246) 169,29
Share-Based Compensation
Aset Hak Guna
58 89 (31) (34,83)
Right-of-Use Assets
Provisi atas Penyisihan Penurunan Nilai Material
(655) (726) 71 (9,78)
Provision for Material Impairment Losses
Provisi atas PPN yang Dapat Ditagihkan
(2.137) (2.177) 40 (1,84)
Provision for Collectible VAT
Provisi atas Piutang Usaha
(203) - (203) (100,00)
Provision for Accounts Receivable
Perbedaan Nilai Buku Aset Tetap Komersial dan Fiskal
24.871 21.533 3.338 15,50
Difference between Book Value of Commercial and Fiscal Fixed Assets
Jumlah Liabilitas Pajak Tangguhan
25.748 21.890 3.858 17,62
Total Deferred Tax Liabilities
PT Pertamina Geothermal Energy Tbk
Page 209
Laporan Tahunan 2025 | 2025 Annual Report 207
Liabilitas Sewa Setelah Dikurangi Bagian Lease Liabilities Net of Current Maturities
yang Jatuh Tempo Dalam Satu Tahun
Jumlah liabilitas sewa setelah dikurangi bagian yang jatuh The Company’s total lease liabilities net of current maturities as
tempo dalam satu tahun Perseroan per 31 Desember 2025 of 31 December 2025, were USD1,735 thousand, a 31.93%
adalah sebesar USD1.735 ribu, menurun 31,93% dibandingkan decrease compared to USD2,549 thousand in the same period
periode yang sama tahun sebelumnya, yaitu sebesar USD2.549 last year. The decrease in lease liabilities is in line with the
ribu. Penurunan liabilitas sewa sejalan dengan berjalannya Company’s ongoing lease contract period.
periode kontrak sewa Perseroan.
Pinjaman Jangka Panjang Setelah Long-Term Loans Net of Current
Dikurangi Bagian yang akan Jatuh Maturities
Tempo Dalam Satu Tahun
Jumlah pinjaman jangka panjang setelah dikurangi bagian The Company’s total long-term loans net of current maturities as of
yang akan jatuh tempo dalam satu tahun Perseroan per 31 December 2025, reached USD334,760 thousand, a 2.05%
31 Desember 2025 mencapai USD334.760 ribu, meningkat increase compared to USD328,047 thousand in the previous
2,05% dibandingkan tahun sebelumnya, yaitu sebesar year. The increase in long-term borrowings was mainly driven
USD328.047 ribu. Peningkatan pinjaman jangka panjang by the addition of the SLA-1242 loan facility from the Japan
terutama disebabkan oleh penambahan fasilitas pinjaman SLA- International Cooperation Agency (JICA), which was used to
1242 dari Japan International Cooperation Agency (JICA) yang support the Company’s organic investment activities.
digunakan untuk mendanai aktivitas investasi organik Perseroan.
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Dolar AS
197.264 217.197 (19.933) (9,18)
USD
Yen 137.496 110.850 26.646 24,04
Jumlah Pinjaman Jangka Panjang setelah Dikurangi Bagian yang akan
Jatuh Tempo dalam Satu Tahun 334.760 328.047 6.713 2,05
Long-Term Loan Amount after Deducting the Portion Due in One Year
Liabilitas Imbalan Kerja Pekerja Employee Benefits Liabilities
Jumlah liabilitas imbalan kerja pekerja Perseroan per The Company’s total employee benefits liabilities as of 31
31 Desember 2025 mencapai USD11.388 ribu, meningkat December 2025, reached USD11,388 thousand, a 26.27%
26,27% dibandingkan tahun sebelumnya, yaitu sebesar increase compared to USD9,019 thousand the previous year. The
USD9.019 ribu. Peningkatan tersebut disebabkan oleh increase was mainly driven by higher post-employment benefit
bertambahnya kewajiban imbalan pascakerja bagi pekerja direct obligations for direct hire employees, in line with the results of
hire, sejalan dengan hasil perhitungan aktuaria berdasarkan actuarial calculations based on prevailing assumptions.
asumsi yang berlaku.
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Imbalan Pasca Kerja
Post-Employment Benefits
Pekerja Direct Hire
6.552 4.343 2.209 50,86
Direct Hire Employees
Pekerja Secondee
3.711 4.109 (398) (9,69)
Secondee Employees
PT Pertamina Geothermal Energy Tbk
Page 210
208 Laporan Tahunan 2025 | 2025 Annual Report
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Imbalan Kerja Jangka Panjang Lainnya
Other Long-Term Employee Benefits
Pekerja Direct Hire
1.125 567 558 98,41
Direct Hire Employees
Jumlah Liabilitas Imbalan Kerja Pekerja
11.388 9.019 2.369 26.27
Total Employee Benefits Liabilities
Kewajiban Jangka Panjang Lainnya Other Long-Term Liabilities
Jumlah kewajiban jangka panjang lainnya Perseroan per The Company’s other long-term liabilities as of 31 December
31 Desember 2025 mencapai USD1.908 ribu, naik 58,21% 2025, reached USD1,908 thousand, a 58.21% increase
dibandingkan tahun sebelumnya, yaitu sebesar USD1.206 ribu. compared to USD1,206 thousand in the previous year.
Peningkatan ini terutama disebabkan oleh penambahan provisi The increase was mainly driven by higher provisions recognized
pencadangan atas kewajiban program kesehatan pensiun for obligations under the employees’ post-retirement healthcare
pekerja. program.
EKUITAS EQUITY
Jumlah ekuitas Perseroan per 31 Desember 2025 adalah sebesar The Company’s total equity as of 31 December 2025,
USD2.045.563 ribu, meningkat 1,83% dibandingkan tahun was USD2,045,563 thousand, a 1.83% increase compared
sebelumnya yang sebesar USD2.008.752 ribu. Peningkatan to USD2,008,752 thousand in the previous year. The increase
ekuitas disebabkan oleh kenaikan tambahan modal disetor yang in equity was due to additional paid-in capital resulting from
datang dari realisasi program Management and Employee Stock the implementation of the Management and Employee Stock
Option Program (MESOP) oleh pekerja. Option Program MESOP program by employees.
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Modal Saham
1.483.513 1.474.494 9.019 0,61
Share Capital
Tambahan Modal Disetor
211.370 188.293 23.077 12,26
Additional Paid-in Capital
Pendapatan Komprehensif Lainnya
19.640 14.328 5.312 37,07
Other Comprehensive Income
Saldo Laba
331.486 332.053 (567) (0,17)
Retained Earnings
Jumlah Ekuitas yang Didistribusikan kepada Pemilik
Entitas Induk 2.046.009 2.009.168 36.841 1,83
Amount of Equity Distributed to Owners of the Parent Entity
Kepentingan Non-Pengendali
(446) (416) (30) 7,21
Non-Controlling Interests
Jumlah Ekuitas
2.045.563 2.008.752 36.811 1,83
Amount of Equity
PT Pertamina Geothermal Energy Tbk
Page 211
Laporan Tahunan 2025 | 2025 Annual Report 209
PT Pertamina Geothermal Energy Tbk
Page 212
210 Laporan Tahunan 2025 | 2025 Annual Report
Pendapatan Komprehensif Lainnya Other Comprehensive Income
Jumlah pendapatan komprehensif lainnya Perseroan per The Company’s other comprehensive income as of 31 December
31 Desember 2025 mencapai USD19.640 ribu, meningkat 2025, reached USD19,640 thousand, a 37.07% increase
37,07% dibandingkan periode yang sama tahun sebelumnya compared to USD14,328 thousand in the same period last year.
yang sebesar USD14.328 ribu. Peningkatan ini terutama This increase was primarily attributable to net adjustments from
berasal dari penyesuaian bersih atas pengukuran kembali nilai the remeasurement of fair value, after deducting costs of disposal
wajar, setelah dikurangi biaya pelepasan atas investasi pada related to investments in associates.
perusahaan asosiasi.
Saldo Laba Retained Earnings
Jumlah Saldo Laba Perseroan per 31 Desember 2025 adalah The Company’s retained earnings as of 31 December 2025 were
USD333.350 ribu, meningkat 0,39% dibandingkan tahun USD 333,350 thousand, an increase of 0.39% from the previous
sebelumnya sebesar USD332.053 ribu. Penurunan saldo laba year’s figure of USD332,053 thousand. The decrease in retained
terjadi oleh karena terdapat reklasifikasi komponen ekuitas earnings was attributable to the reclassification of other equity
lainnya. components.
(dalam USD ribu, kecuali dinyatakan lain / in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Ditentukan Penggunaannya
191.533 167.438 24.095 14,39
Appropriated
Belum Ditentukan Penggunaannya
139.953 164.615 (24.662) (14,98)
Unappropriated
Jumlah Saldo Laba
331.486 332.053 (567) (0,17)
Amount of Retained Earnings
LAPORAN LABA RUGI KOMPREHENSIF COMPREHENSIVE INCOME STATEMENT
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Pendapatan Usaha
432.726 407.120 25.606 6,29
Operating Revenue
Beban Pokok Pendapatan dan Beban Langsung Lainnya
(199.662) (166.721) (32.941) 19,76
Cost of Revenue and Other Direct Expenses
Laba Bruto
233.064 240.399 (7.335) (3,05)
Gross Profit
Beban Umum dan Administrasi
(30.684) (29.671) (1.013) 3,41
General and Administrative Expenses
(Beban)/Pendapatan Lain-lain, Bersih
3.191 (457) 3.648 (798,25)
(Expenses)/Other Income, Net
Laba Usaha
205.571 210.271 (4.700) (2,24)
Operating Income
Pendapatan Keuangan
28.221 33.565 (5.344) (15,92)
Finance Income
Selisih kurs – bersih
(7.634) 15.984 (23.618) (147,76)
Foreign Exchange Difference - Net
Bagian atas laba bersih ventura bersama
40 453 (413) (91,17)
Share of Net Income of Joint Ventures
Beban keuangan
(30.284) (32.114) 1.830 (5,70)
Finance Expenses
PT Pertamina Geothermal Energy Tbk
Page 213
Laporan Tahunan 2025 | 2025 Annual Report 211
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Laba sebelum Beban Pajak Penghasilan
195.914 228.159 (32.245) (14,13)
Income Before Income Tax Expense
Beban Pajak Penghasilan
(58.247) (67.857) 9.610 (14,16)
Income Tax Expense
Laba Tahun Berjalan
137.667 160.302 (22.635) (14,12)
Profit for the Year
Penghasilan Komprehensif Lain, Neto Setelah Pajak
3.448 (3.148) 6.596 (209,53)
Other Comprehensive Income, Net After Tax
Jumlah Penghasilan Komprehensif Tahun Berjalan
141.115 157.154 (16.039) (10,21)
Total Comprehensive Income for the Year
Laba/(Rugi) Tahun Berjalan yang Dapat Diatribusikan Kepada:
Profit/(Loss) for the Year Attributable to:
Pemilik Entitas Induk
137.697 160.494 (22.797) (14,20)
Owners of the Parent Entity
Kepentingan Non Pengendali
(30) (192) 162 (84,38)
Non-Controlling Interests
Penghasilan/(Rugi) Komprehensif Tahun Berjalan yang Dapat Diatribusikan Kepada:
Comprehensive Income/(Loss) for the Year Attributable to:
Pemilik Entitas Induk
141.145 157.346 (16.201) (10,30)
Owners of the Parent Entity
Kepentingan Non Pengendali
(30) (192) 162 (84,38)
Non-Controlling Interests
Jumlah Lembar Saham (satuan)
41.815.763.396 41.508.024.149 307.739.247 0,74
Number of Shares (units)
Laba per saham dasar diatribusikan kepada pemilik entitas
induk (nilai penuh)
0,0033 0,0039 (0,0006) (14,84)
Basic Earnings per Share Attributable to Owners of the Parent
Entity (full amount)
Laba per Saham Dilusian Diatribusikan kepada Pemilik Entitas
Induk (Nilai Penuh) (0,0005)
0,0033 0,0038 (14,20)
Diluted Earnings per Share Attributable to Owners of the
Parent Entity (full amount)
Pendapatan Usaha Operating Revenue
Pendapatan usaha Perseroan per 31 Desember 2025 mencapai The Company’s operating revenue as of 31 December 2025,
USD432.726 ribu, meningkat 6,29% dibandingkan periode reached USD432,726 thousand, a 6.29% increase compared
yang sama tahun sebelumnya yang sebesar USD407.120 ribu. to USD407,120 thousand in the same period last year. The growth
Meningkatnya pendapatan usaha Perseroan terutama didorong in the Company’s operating revenue was mainly attributable
oleh kenaikan penjualan uap dan listrik, khususnya yang berasal to increased steam and electricity sales, particularly contributed
dari tambahan produksi listrik di Area Lumut Balai, seiring by additional power generation in the Lumut Balai Area, in line
dengan beroperasinya secara penuh PLTP Lumut Balai Unit 2. with the full operation of Lumut Balai Geothermal Power Plant
Unit 2.
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Penjualan Operasi Sendiri
Own Operation Sales
PT Indonesia Power
Kamojang 68.335 69.865 (1.530) (2,19)
Ulubelu 44.292 42.647 1.645 3,86
PT Pertamina Geothermal Energy Tbk
Page 214
212 Laporan Tahunan 2025 | 2025 Annual Report
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Lahendong 36.811 37.503 (692) (1,85)
PT PLN (Persero)
Kamojang 81.123 77.900 3.223 4,14
Ulubelu 71.978 71.516 462 0,65
Lahendong 43.108 42.294 814 1,92
Lumut Balai 59.641 40.122 19.519 48.65
Karaha 10.132 8.684 1.448 16.67
Sub Jumlah
415.420 390.531 24.889 6,37
Sub Total
Production Allowance 17.306 16.589 717 4,32
Jumlah Pendapatan Usaha
432.726 407.120 25.606 6,29
Total Operating Income
Beban Pokok Pendapatan dan Beban Cost of Revenue and Other Direct
Langsung Lainnya Expenses
Beban pokok pendapatan dan beban langsung lainnya The Company’s cost of revenue and other direct expenses
Perseroan periode 31 Desember 2025 tercatat USD199.662 for the period ended 31 December 2025 amounted
ribu, meningkat 19,76% dibandingkan periode yang sama to USD199,662 thousand, representing an increase of 19.76%
tahun sebelumnya yang sebesar USD166.721 ribu. Peningkatan compared with USD166,721 thousand in the corresponding
ini terutama disebabkan oleh kenaikan beban penyusutan period of the previous year. The increase was mainly driven
sebagai dampak selesainya pembangunan PLTP Lumut Balai Unit by higher depreciation expenses as a result of the completion
2, aktivitas pemeliharaan yang lebih tinggi, serta kenaikan upah of Lumut Balai Geothermal Power Plant Unit 2, increased
dan tunjangan pekerja seiring dengan realisasi program MESOP. maintenance activities, and higher employee wages and benefits
in line with the realization of the MESOP program.
(dalam USD ribu, kecuali dinyatakan lain / in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Beban penyusutan
126.926 112.263 14.663 13,06
Depreciation Expenses
Upah dan Tunjangan
45.605 27.986 17.619 62,96
Wages and Benefits
Jasa Teknik
5.324 5.938 (614) (10,34)
Engineering Services
Tenaga Kerja dan Jasa Profesional
9.604 8.668 936 10,80
Labor and Professional Services
Asuransi
2.734 2.084 650 31,19
Insurance
Perjalanan Dinas
1.782 2.456 (674) (27,44)
Business Travel
Material dan Peralatan
3.541 3.340 201 6,02
Materials and Equipment
Sewa
2.612 2.717 (105) (3,86)
Lease
Lain-lain
1.534 1.269 265 20,88
Other
Jumlah Beban Pokok Pendapatan dan Beban Langsung Lainnya
199.662 166.721 32.941 19,76
Total Cost of Revenue and Other Direct Expenses
PT Pertamina Geothermal Energy Tbk
Page 215
Laporan Tahunan 2025 | 2025 Annual Report 213
Laba Bruto Gross Profit
Laba bruto Perseroan per 31 Desember 2025 mencapai The Company’s gross profit as of 31 December 2025,
USD233.064 ribu, menurun 3,05% dibandingkan periode reached USD233,064 thousand, a 3.05% decrease compared
yang sama tahun sebelumnya yang sebesar USD240.399 ribu. to USD240,399 thousand in the same period last year.
Penurunan laba bruto disebabkan oleh kenaikan dari beban The decrease in gross profit was mainly driven by higher cost
pokok pendapatan dan beban langsung lainnya sebagai of revenue and other direct expenses, as a result of increased
dampak dari penguatan beban penyusutan atas investasi aset depreciation on newly invested assets, along with higher
baru serta beban upah dan tunjangan. employee wages and benefits.
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Pendapatan Usaha
432.726 407.120 25.606 6,29
Operating Revenue
Beban Pokok Pendapatan dan Beban Langsung Lainnya
(199.662) (166.721) (32.941) 19,76
Cost of Revenue and Other Direct Expenses
Laba Bruto
233.064 240.399 (7.335) (3,05)
Gross Profit
Laba Usaha Operating Profit
Per 31 Desember 2025, laba usaha Perseroan tercatat sebesar The Company’s operating profit as of 31 December 2025,
USD205.571 ribu, menurun 2,24% dibandingkan dengan reached USD205,571 thousand, a 2.24% decrease from
USD210.271 ribu pada periode yang sama tahun sebelumnya. USD210,271 thousand in the same period last year. The decrease
Penurunan ini terutama dipengaruhi oleh penurunan laba bruto in operating profit was in line with the decrease in gross profit
serta peningkatan beban umum dan administrasi, yang antara and an increase in general and administrative expenses resulting
lain terkait dengan realisasi program MESOP. from the implementation of the MESOP program.
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Laba Bruto
233.064 240.399 (7.335) (3,05)
Gross Profit
Beban Umum dan Administrasi
(30.684) (29.671) (1.013) 3,41
General and Administrative Expenses
(Beban)/Pendapatan Lain-lain, Bersih
3.191 (457) 3.648 (798,25)
Other (Expenses)/Income, Net
Laba Usaha
205.571 210.271 (4,700) (2,24)
Operating Profit
Laba Tahun Berjalan Profit for the Year
Laba tahun berjalan Perseroan per 31 Desember 2025 mencapai The Company’s profit for the year as of 31 December 2025,
USD137.667 ribu, turun 14,12% dibandingkan periode yang reached USD137,667 thousand, a 14.12% decrease compared
sama tahun sebelumnya yang sebesar USD160.302 ribu. to USD160,302 thousand in the same period the previous year.
Penurunan laba tahun berjalan terutama disebabkan oleh The decrease in profit for the year was primarily attributable to
penurunan laba bruto, yang dipengaruhi oleh peningkatan a decline in gross profit, driven by higher cost of revenue and
beban pokok pendapatan dan beban langsung lainnya. Kondisi other direct expenses. This condition occurred as operating and
ini terjadi seiring dengan kenaikan beban operasional dan finance costs increased at a higher rate than the growth in the
keuangan yang lebih tinggi dibandingkan dengan pertumbuhan Company’s operating and financial income.
pendapatan usaha dan pendapatan keuangan Perseroan.
PT Pertamina Geothermal Energy Tbk
Page 216
214 Laporan Tahunan 2025 | 2025 Annual Report
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Laba Usaha
205.571 210.271 (4.700) (2,24)
Operating Income
Pendapatan keuangan
28.221 33.565 (5.344) (15,92)
Finance Income
Selisih kurs – bersih
(7.634) 15.984 (23.618) (147,76)
Foreign Exchange Difference - Net
Bagian atas laba bersih ventura bersama
40 453 (413) (91,17)
Share of Joint Venture Net Income
Beban keuangan
(30.284) (32.114) 1.830 (5,70)
Finance Charges
Laba sebelum Beban Pajak Penghasilan
195.914 228.159 (32.245) (14,13)
Income Before Income Tax Expenses
Beban Pajak Penghasilan
(58.247) (67.857) 9.610 (14,16)
Income Tax Expense
Laba Tahun Berjalan
137.667 160.302 (22.635) (14,12)
Profit for the Year
LAPORAN ARUS KAS KONSOLIDASIAN CONSOLIDATED CASH FLOW STATEMENT
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Arus Kas dari Aktivitas Operasi
Cash Flows from Operating Activities
Penerimaan Kas dari Pelanggan
839.670 796.438 43.232 5,43
Cash Receipts from Customers
Penerimaan Kas dari Pendapatan Bunga
29.416 36.559 (7.143) (19,54)
Cash Receipts from Interest Income
Penerimaan/(Pembayaran) Kas antar Anak Perusahaan
(12.285) 4.437 (16.722) (376,88)
Cash Receipts/(Payments) between Subsidiaries
Pembayaran Kas kepada Pemasok
(497.964) (478.244) (19.720) 4,12
Cash Payments to Suppliers
Pembayaran Kas untuk Pajak Penghasilan
(44.356) (71.398) 27.042 (37,88)
Cash Payments for Income Taxes
Pembayaran Kas kepada Pekerja
(31.071) (32.363) 1.292 (3,99)
Cash Payments to Employees
Pembayaran Premi Asuransi dan Klaim Lainnya
(5.322) (900) (4.422) 491,33
Payments for Insurance Premiums and Other Claims
Penerimaan Kas yang dibatasi penggunaannya
(183) (308) 125 (40,58)
Restricted Cash Receipts
Penerimaan Kas dari Aktivitas Operasi Lainnya
35.618 4.063 36.157 889,91
Cash Receipts from Other Operating Activities
Arus Kas Bersih yang Diperoleh dari Aktivitas Operasi
313.523 258.284 55.239 21,39
Net Cash Flow Provided by Operating Activities
Arus Kas dari Aktivitas Investasi
Cash Flows from Investing Activities
Penerimaan Dividen dari Perusahaan Asosiasi
1.994 2.574 (580) (22,53)
Dividend Receipts from Associates
Penambahan Investasi di Ventura Bersama
- (100) 100 (100)
Additional Investment in Joint Ventures
Penambahan Aset Tetap
(84.401) (103.408) 19.007 (18,38)
Additions to Fixed Assets
PT Pertamina Geothermal Energy Tbk
Page 217
Laporan Tahunan 2025 | 2025 Annual Report 215
(dalam USD ribu, kecuali dinyatakan lain | in USD thousand, unless otherwise stated)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase (%)
Nominal Percentage (%)
Arus Kas Bersih yang Digunakan untuk Aktivitas Investasi
(82.407) (100.934) 18.527 (18,36)
Net Cash Flow Used in Investing Activities
Arus Kas Dari Aktivitas Pendanaan
Cash Flows from Financing Activities
Penerimaan Kas atas Penerbitan Saham
18.588 4.752 13.836 291,16
Cash Receipts from Share Issuance
Pengembalian Pinjaman ke Pertamina
(25.924) (14.973) (10.951) 73,14
Repayment of Loan to Pertamina
Pembayaran Kas atas Dividen
(136.400) (128.400) (8.000) 6,23
Cash Payments from Dividends
Pembayaran Kas atas Sewa Pembiayaan
(1.641) (1.922) 281 (14,62)
Cash Payments from Finance Leases
Pembayaran Kas atas Beban Keuangan
(27.167) (50.596) 23.429 (46,31)
Cash Payments from Expenses Finance
Arus Kas Bersih yang Digunakan/ Diperoleh
untuk Aktivitas Pendanaan (172.544) (191.139) 18.595 (9,73)
Net Cash Flow Used/Obtained in Financing Activities
(Penurunan)/Kenaikan Neto Kas dan Setara Kas
58.572 (33.789) 92.361 (273,35)
Net (Decrease)/Increase in Cash and Cash Equivalents
Efek Perubahan Nilai Kurs
4.736 11.263 (6.527) (57,95)
Effect of Exchange Rate Changes
Saldo Kas dan Setara Kas Pada Awal Tahun
655.191 677.717 (22.526) (3,32)
Cash and Cash Equivalents Balance at Beginning of Year
Saldo Kas dan Setara Kas Pada Akhir Tahun
718.499 655.191 63.308 9,66
Cash and Cash Equivalents Balance at End of Year
Arus Kas Dari Aktivitas Operasi Cash Flow from Operating Activities
Pada tahun 2025 Perseroan mencatatkan jumlah arus kas bersih In 2025, the Company recorded net cash flow from operating
yang diperoleh dari aktivitas operasi sebesar USD313.523 ribu. activities of USD313,523 thousand. This figure increased
Jumlah tersebut naik 21,39% dari tahun 2024 yang sebesar by 21.39% from USD258,284 thousand in 2024.
USD258.284 ribu.
Penguatan arus kas dari aktivitas operasi terutama didorong oleh The improvement in cash flows from operating activities was
peningkatan penerimaan kas dari pelanggan, yang meningkat mainly attributable to increased cash receipts from customers,
dari USD796.438 ribu pada tahun 2024 menjadi USD839.670 rising from USD796,438 thousand in 2024 to USD839,670
ribu pada tahun 2025. Kenaikan ini sejalan dengan pertumbuhan thousand in 2025. This growth was aligned with the increase
penjualan uap dan listrik Perseroan, yang meningkat dari 4.827 in the Company’s steam and electricity sales, from 4,827 GWh
GWh pada tahun 2024 menjadi 5.095 GWh pada tahun 2025. in 2024 to 5,095 GWh in 2025.
Arus Kas Dari Aktivitas Investasi Cash Flow from Investing Activities
Pada tahun 2025, arus kas bersih yang digunakan untuk In 2025, cash flow used in investing activities amounted
aktivitas investasi tercatat sebesar USD82.407 ribu, menurun to USD82,407 thousand, decreasing by USD18,527 thousand
sebesar USD18.527 ribu atau 18,36% dibandingkan dengan or 18.36% compared to USD100,934 thousand in 2024.
USD100.934 ribu pada tahun 2024.
Penurunan ini terutama dipengaruhi oleh berkurangnya This decrease was primarily driven by lower additions to fixed
penambahan aset tetap, dari USD103.408 ribu pada tahun assets, which declined from USD103,408 thousand in 2024
2024 menjadi USD84.401 ribu pada tahun 2025. Perubahan to USD84,401 thousand in 2025. The change was partly
tersebut antara lain disebabkan oleh perbedaan waktu antara attributable to timing differences between invoice receipts and
penerimaan invoice dan realisasi pembayaran yang melampaui payment realizations that extended beyond the current reporting
periode pencatatan pada tahun berjalan. period.
PT Pertamina Geothermal Energy Tbk
Page 218
216 Laporan Tahunan 2025 | 2025 Annual Report
Arus Kas Dari Aktivitas Pendanaan Cash Flow from Financing Activities
Jumlah Arus Kas Bersih yang Digunakan untuk Aktivitas Net cash flow used in financing activities in 2025 reached
Pendanaan pada tahun 2025 mencapai USD172.544 ribu, USD172,544 thousand, a decrease of USD18,595 thousand, or
turun USD18.595 ribu, atau 9,73% dari posisi pada tahun 2024 9.73%, from USD191,139 thousand in 2024.
yang sebesar USD191.139 ribu.
Penurunan arus kas dari aktivitas pendanaan terutama The decrease in cash flow from financing activities was mainly
dipengaruhi oleh penerimaan kas dari penerbitan saham melalui attributable to cash proceeds from share issuance under the
realisasi program MESOP oleh pekerja sebesar USD18.588 employees’ MESOP program amounting to USD18,588 thousand.
ribu. Selain itu, arus kas juga dipengaruhi oleh penurunan It was also impacted by lower finance cost payments, which
pembayaran beban keuangan, dari USD50.596 ribu pada declined from USD50,596 thousand in 2024 to USD27,167
tahun 2024 menjadi USD27.167 ribu pada tahun 2025. thousand in 2025.
RASIO KEUANGAN KONSOLIDASIAN CONSOLIDATED FINANCIAL RATIOS
Uraian Pertumbuhan/(Penurunan)
2025 2024
Description Growth/(Decrease)
Rasio Profitabilitas
Profitability Ratios
Imbalan Balik Atas Aset
4,54% 5,35% (15,17%)
Return on Assets
Imbal Balik Atas Modal
6,73% 7,98% (15,67%)
Return on Capital
Margin Laba Usaha
47,51% 51,65% (8,02%)
Operating Profit Margin
Margin Laba Bersih
31,81% 39,37% (19,20%)
Net Profit Margin
Rasio Likuiditas
Liquidity Rasio
Rasio Kas
335,28% 288,25% 16,31%
Cash Rasio
Rasio Lancar
411,10% 364,53% 12,78%
Current Rasio
Rasio Solvabilitas
Solvency Rasio
Rasio Modal Terhadap Total Aset
0,67% 0,67% 0,59%
Capital to Total Assets Rasio
Time Interest Earned Ratio (kali)
6,68 6,55 1,99
Time Interest Earned Ratio (times)
Rasio Perputaran (Hari)
Turnover Ratio (Days)
Collection Period 1
53,01 58,25 (8,99)
Collection Period 1
Perputaran Total Aset
0,14% 0,14% 5,05%
Total Asset Turnover
1) Collection period dihitung berdasarkan total pendapatan usaha dibandingkan total piutang usaha sendiri (tidak termasuk piutang usaha atas transaksi
passthrough kontraktor KOB)
1) Collection period is calculated based on total business income compared to total own accounts receivable (excluding accounts receivable for KOB contractor
passthrough transactions)
Rasio profitabilitas Perseroan pada tahun 2025 mengalami The Company’s profitability ratios experienced a weakening in
pelemahan sejalan dengan penurunan laba bersih dibandingkan 2025, in line with the decrease in net profit compared to the
dengan tahun sebelumnya. Meskipun demikian, Perseroan tetap previous year. However, the Company remained able to maintain
mampu menjaga tingkat margin dan rasio keuangan pada level its margins and financial ratios at a healthy level.
yang sehat.
PT Pertamina Geothermal Energy Tbk
Page 219
Laporan Tahunan 2025 | 2025 Annual Report 217
Rasio Likuiditas seperti Rasio Kas dan Rasio Lancar tercatat Liquidity ratios, such as the Cash Ratio and the Current Ratio,
mengalami peningkatan sebagai akibat dari meningkatnya improved due to the increase in the Company’s cash and cash
Kas dan setara Kas Perseroan. Peningkatan ini didorong oleh equivalents. The increase was mainly driven by higher sales and
pertumbuhan penjualan serta optimalisasi siklus penagihan yang improved collection cycle efficiency, resulting in accelerated cash
berdampak pada percepatan penerimaan kas. inflows.
Selanjutnya, rasio perputaran piutang (collection period) Furthermore, the collection period improved, as indicated by
mengalami perbaikan, tercermin dari penurunan dari 58,25 hari a reduction from 58.25 days to 53.01 days, reflecting the
menjadi 53,01 hari. Hal ini mencerminkan efektivitas Perseroan Company’s effectiveness in expediting collections and managing
dalam mempercepat proses penagihan dan pengelolaan piutang. receivables.
KEMAMPUAN MEMBAYAR UTANG DAN DEBT PAYMENT ABILITY AND RECEIVABLE
KOLEKTIBILITAS PIUTANG COLLECTIBILITY
Kemampuan Perseroan membayar utang baik jangka pendek The Company’s ability to pay both short-term and long-term
maupun jangka panjang, dapat dilihat melalui nilai Rasio debt can be seen through the Liquidity Ratio and Solvency Ratio
Likuiditas dan Rasio Solvabilitas. Nilai Rasio Likuiditas values. The Liquidity Ratio indicates the ability to meet short-term
menunjukkan kemampuan dalam memenuhi liabilitas jangka liabilities, as measured by the Cash Ratio and the Current Ratio.
pendek, yang diukur melalui Rasio Kas dan Rasio Lancar.
Rasio Kas dihitung dengan cara membandingkan kas yang The Cash Ratio is calculated by comparing cash on hand to total
dimiliki dengan jumlah liabilitas jangka pendek. Sementara short-term liabilities. Meanwhile, the Current Ratio is calculated
Rasio Lancar dihitung dengan cara membandingkan jumlah aset by comparing total current assets to total short-term liabilities.
lancar dengan jumlah liabilitas jangka pendek.
Kemampuan Membayar Utang Jangka Ability to Pay Short-Term Debt (Liquidity
Pendek (Rasio Likuiditas) Ratio)
Rasio Kas tahun 2025 mencapai 335,28%, naik dibandingkan The cash ratio increased to 335.28% in 2025 from 288.25%
tahun 2024 yang sebesar 288,25%, Sejalan dengan Rasio in 2024. Consistently, the current ratio improved to 411.10% in
Lancar tahun 2025 yang mencapai 411,10% naik dari tahun 2025 compared to 364.53% in 2024, indicating the Company’s
2024 yang sebesar 364,53%, Rasio tersebut menunjukkan strong capability to settle its short-term obligations.
Perseroan memiliki kemampuan untuk membayar utang jangka
pendeknya dengan sangat baik.
Kemampuan Membayar Utang Jangka Ability to Pay Short-Term Debt (Liquidity
Pendek (Rasio Likuiditas) Ratio)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description
%
Rasio Kas
335,28% 288,25% 16,31
Cash Ratio
Rasio Lancar
411,10% 364,53% 12,78
Current Ratio
Kemampuan Membayar Utang Jangka Long-Term Debt Repayment Ability
Panjang (Rasio Solvabilitas) (Solvency Ratio)
Rasio Solvabilitas menunjukkan kemampuan Perseroan dalam The Solvency Ratio indicates the Company’s ability to pay its
membayar kewajiban-kewajibannya, yang diukur melalui: obligations, as measured by:
• Rasio Liabilitas Terhadap Ekuitas yang dihitung dengan cara • The Liability-to-Equity Ratio, calculated by comparing total
membandingkan jumlah liabilitas dengan jumlah ekuitas. liabilities to total equity.
• Rasio Liabilitas terhadap Aset yang dihitung dengan cara • The Liability-to-Asset Ratio, calculated by comparing total
membandingkan jumlah liabilitas dengan jumlah aset. liabilities to total assets.
PT Pertamina Geothermal Energy Tbk
Page 220
218 Laporan Tahunan 2025 | 2025 Annual Report
Nilai Rasio Solvabilitas Perseroan tahun 2025 menunjukkan The Company’s solvency ratio in 2025 showed a decrease,
penurunan, yang dipengaruhi oleh meningkatnya nilai aset dan which was influenced by the increase in the value of assets and
ekuitas terhadap liabilitas. equity relative to liabilities.
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description
%
Rasio Liabilitas terhadap Ekuitas
48,34% 49,22% (1,79)
Liabilities to Equity Ratio
Rasio Liabilitas terhadap Aset
32,59% 32,98% (1,19)
Liabilities to Assets Ratio
Tingkat Kolektibilitas Piutang Receivables Collectibility Rate
Perseroan tidak memisahkan perhitungan tingkat kolektibilitas The Company does not separate the calculation of long-term
piutang jangka panjang dan jangka pendek. Tingkat kolektibilitas and short-term receivables collectibility rates. The Company’s
Piutang Perseroan tahun 2025 adalah 53,01 hari, lebih cepat Receivables Collectibility Rate in 2025 was 53.01 days, faster
dari tahun 2024 yang mencapai 58,25 hari. than the 58.25 days recorded in 2024.
Uraian
2025 2024
Description
Periode Pengumpulan
53,01 hari 58,25 hari
Collection Period
Perputaran Total Aset
13,66% 14,35%
Total Asset Turnover
STRUKTUR MODAL DAN KEBIJAKAN ATAS CAPITAL STRUCTURE AND POLICY ON
STRUKTUR MODAL CAPITAL STRUCTURE
(dalam USD ribu | in USD thousand)
Pertumbuhan/(Penurunan)
Uraian Growth/(Decrease)
2025 2024
Description Nominal Persentase
Nominal Percentage
Liabilitas
Liabilities
Liabilitas Jangka Pendek
214.299 227.296 (12.997) (5,72%)
Current Liabilities
Liabilitas Jangka Panjang
774.589 761.354 13.235 1,74%
Long-Term Liabilities
Jumlah Liabilitas
988.888 988.650 238 0,02%
Total Liabilities
Ekuitas
2.045.563 2.008.752 36.811 1,83%
Equity
Modal Kerja
666.674 601.259 65.415 10,88%
Working Capital
Kebijakan dan Analisa Pencapaian Capital Structure Policy and Analysis
Realisasi Struktur Modal
Perseroan merupakan bagian dari Subholding Power and New The Company is part of the Power and New Renewable Energy
Renewable Energy (PNRE) Pertamina. Dengan demikian rencana (PNRE) Subholding of Pertamina. Therefore, the capital plan
permodalan disusun berdasarkan persetujuan PT Pertamina is prepared based on the approval of PT Pertamina (Persero)
(Persero) sebagai Pemegang Saham, dengan merujuk pada as Shareholder, with reference to the Company’s Articles of
Anggaran Dasar Perseroan. Association.
PT Pertamina Geothermal Energy Tbk
Page 221
Laporan Tahunan 2025 | 2025 Annual Report 219
Perseroan menerapkan kebijakan struktur modal dengan The Company implements a capital structure policy by
memperkuat Ekuitas. Hingga 31 Desember 2025, perbandingan strengthening equity. As of 31 December 2025, the ratio of
antara Liabilitas dan Ekuitas dalam struktur modal adalah 33:67 Liabilities to Equity in the capital structure was 33:67. This ratio
Perbandingan tersebut tidak berubah dari tahun 2024, yakni remained unchanged from 2024, which was 33:67, indicating
33:67, yang menunjukkan bahwa Perseroan menjalankan usaha that the Company operates its business using capital sourced
menggunakan modal yang bersumber dari ekuitas. from equity.
IKATAN MATERIAL UNTUK INVESTASI MATERIAL COMMITMENTS FOR CAPITAL
BARANG MODAL GOODS INVESTMENTS
Peraturan Otoritas Jasa Keuangan (POJK) No. 17/POJK.04/2020 Financial Services Authority Regulation (POJK) No. 17/
tentang Transaksi Material dan Perubahan Kegiatan Usaha POJK.04/2020 concerning Material Transactions and Changes
menyebutkan, suatu transaksi dikategorikan sebagai transaksi in Business Activities stipulates that a transaction is classified as
material apabila nilai transaksi sama dengan 20% atau lebih a material transaction if its value is equal to or exceeds 20% of a
dari ekuitas perusahaan terbuka. public company’s equity.
Mengacu pada regulasi tersebut, hingga akhir tahun buku 2025 With reference to the aforementioned regulation, as of the end
maupun laporan tahunan ini diterbitkan, Perseroan tidak memiliki of fiscal year 2025 and up to the issuance date of this Annual
ikatan yang bersifat material untuk investasi barang modal. Report, the Company does not have any material commitments
related to capital expenditure investments.
REALISASI INVESTASI BARANG MODAL CAPITAL GOODS INVESTMENT
REALIZATION
Selama tahun 2025, Perseroan memiliki kegiatan investasi Throughout 2025, the Company engaged in capital
barang modal yang menjadi bagian dari komitmen eksplorasi. goods investments as part of its exploration commitments.
Realisasi investasi barang modal Perseroan tahun 2025 The Company’s capital goods investment realization in 2025
mencapai USD101,78 juta yang ditujukan untuk menunjang reached USD101.78 million, which was intended to support the
operasional Perseroan. Company’s operations.
(dalam USD juta | in USD million)
Tipe Investasi Nilai Investasi
Investment Type Investment Value
Pengembangan
39,76
Development
Pemeliharaan
62,02
Maintenance
Jumlah
101,78
Total
INFORMASI DAN FAKTA MATERIAL MATERIAL INFORMATION AND FACTS
SETELAH TANGGAL LAPORAN AKUNTAN SUBSEQUENT TO THE DATE OF THE
ACCOUNTANT’S REPORT
Tidak terdapat informasi dan fakta material yang terjadi setelah There is no material information or facts that occurred after the
terbitnya Laporan Keuangan yang telah diaudit. issuance of the audited Financial Statements.
PERNYATAAN KEPATUHAN MEMBAYAR TAX COMPLIANCE STATEMENT
PAJAK
Kebijakan Policy
Setiap tahun Perseroan melakukan pembayaran pajak yang Every year, the Company pays taxes, including Income Tax
meliputi Pajak Penghasilan (PPh) Potong/Pungut, Pajak (PPh) withholding, Value Added Tax (PPN), Land and Building
PT Pertamina Geothermal Energy Tbk
Page 222
220 Laporan Tahunan 2025 | 2025 Annual Report
Pertambahan Nilai (PPN), Pajak Bumi dan Bangunan (PBB), dan Tax (PBB), and other regional taxes, within the timeframes
pajak daerah lainnya, dalam jangka waktu sesuai ketentuan in accordance with applicable tax regulations.
perpajakan yang berlaku.
Dalam periode pelaporan, Perseroan telah menyampaikan During the reporting period, the Company submitted tax reporting
dokumen pelaporan pajak, seperti Surat Pajak Tahunan (SPT) documents, such as the Annual Tax Return (SPT) for Income Tax
Masa atas PPh dan PPN, SPT Tahunan PPh Badan, serta dokumen and VAT, the Annual Corporate Income Tax Return (SPT), and other
kewajiban perpajakan lainnya. Dokumen pelaporan tersebut tax obligations. These reporting documents were submitted to the
disampaikan kepada otoritas perpajakan yang berwenang authorized tax authorities within the timeframes in accordance
dalam jangka waktu sesuai ketentuan perpajakan yang berlaku. with applicable tax regulations.
Pada tahun 2025, total pembayaran pajak Perseroan sebesar In 2025, the Company’s total tax payments amounted to IDR
Rp1.024.495.965.471, yang rinciannya disampaikan dalam 1,024,495,965,471, the details of which are presented in the
tabel di bawah ini. table below.
Jenis Kontribusi Total Kontribusi (Rp)
Contribution Type Total Contribution (Rp)
A. Pajak
A. Tax
Pajak Penghasilan (PPh)
1 319.988.104.819
Income Tax (PPh)
Pajak Pertambahan Nilai (PPN) dan Pajak Penjualan atas Barang Mewah (PPnBM)
2 1.339.126.924
Value Added Tax (PPN) and Luxury Goods Sales Tax (PPnBM)
Bea Masuk/Keluar, Bea & Cukai, dan Bea Materai
3 -
Import/Export Duties, Customs & Excise, and Stamp Duty
Pajak Pemerintah Pusat Lainnya (SKP/STP)
4 61.275.926
Other Central Government Taxes (SKP/STP)
Total Kontribusi Pajak (Total A)
321.388.507.669
Total Tax Contribution (Total A)
B. Penerimaan Negara Bukan Pajak (PNBP)
B. Non-Tax State Revenue (PNBP)
Dividen
1 -
Dividends
PNBP Lainnya
2 703.107.457.802
Other PNBP
Total Kontribusi PNBP (Total B)
703.107.457.802
Total PNBP Contribution (Total B)
Total Kontribusi Kepada Negara (Total A dan B)
1.024.495.965.471
Total Contribution to the State (Total A and B)
PERBANDINGAN TARGET AWAL TAHUN COMPARISON OF INITIAL FISCAL YEAR
BUKU DENGAN HASIL YANG DICAPAI TARGETS WITH ACHIEVED RESULTS
(REALISASI) (REALIZED)
Perseroan telah menetapkan Rencana Kerja dan Anggaran The Company has established the Corporate Work Plan and
Perusahaan (RKAP) untuk tahun buku 2025 berdasarkan Budget (RKAP) for the 2025 fiscal year based on the Circular
Keputusan Pemegang Saham Secara Sirkuler tentang RKAP Tahun Shareholders’ Resolution on the 2025 RKAP, which also contains
2025, yang juga berisi target-target kinerja untuk tahun buku performance targets for the 2025 fiscal year. The IDR/USD
2025. Asumsi nilai tukar mata uang IDR/USD yang digunakan exchange rate assumption used in preparing the projections is
dalam menyusun proyeksi adalah Rp16.113, seperti yang telah IDR 16,113, as determined by PT Pertamina (Persero).
ditetapkan oleh PT Pertamina (Persero).
PT Pertamina Geothermal Energy Tbk
Page 223
Laporan Tahunan 2025 | 2025 Annual Report 221
Perbandingan Kinerja Keuangan Comparison of Financial Performance
Antara Target Awal Tahun Buku 2025 Between Initial Fiscal Year 2025 Targets
dan Hasil Dicapai (Realisasi), Serta and Achieved Results (Realized), and
Perbandingannya Dengan Realisasi Comparison with Fiscal Year 2024
Tahun Buku 2024 Realization
Pendapatan usaha Perseroan pada tahun 2025 terealisasi The Company’s operating revenue in 2025 amounted to
sebesar USD432.726 ribu atau mencapai 103,32% dari RKAP. USD432,726 thousand, or 103.32% of the RKAP target. This
Pencapaian ini didukung oleh tingginya realisasi pendapatan performance was supported by strong own-source operating
operasi sendiri, yang didorong oleh optimalisasi load factor revenue, driven by optimized plant load factors, accelerated
pembangkit, percepatan jumlah hari pemeliharaan PLTP, GPP maintenance schedules, and higher production allowance
serta peningkatan realisasi production allowance dari skema realization under the Joint Operation Contract scheme.
kerjasama Kontrak Operasi Bersdama.
Sejalan dengan hal tersebut, EBITDA Perseroan pada tahun Consistent with this performance, the Company’s EBITDA grew
2025 mencatatkan pertumbuhan secara year-on-year (YoY), on a year-on-year (YoY) basis in 2025, mainly attributable
yang terutama dipengaruhi oleh peningkatan pendapatan to increased operating revenue from additional production
usaha sebagai hasil dari tambahan kapasitas produksi pasca capacity following the full operation of Lumut Balai Geothermal
beroperasinya PLTP Area Lumut Balai Unit 2 pada 30 Juni 2025. Power Plant Unit 2 on 30 June 2025.
(dalam USD ribu | in USD thousand)
2025 2024
Uraian
Description RKAP 1
Realisasi RKAP 1
Realisasi
WP&B Realization WP&B Realization
Pendapatan Usaha | Operating Revenue 418.786 432.726 393.732 407.120
Beban Usaha | Operating Expenses (191.799) (227.155) (193.825) (196.849)
Laba Usaha | Operating Profit 226.986 205.571 199.907 210.271
EBITDA 327.307 330.353 307.211 324.061
1
Rencana Kerja dan Anggaran Perusahaan (RKAP) l Work Plan and Budget (WP&B)
Perbandingan Target dan Realisasi Comparison of Target and Actual Sales
Penjualan
Pencapaian penjualan pada tahun 2025 terealisasi USD415.420 Realized sales in 2025 reached USD415,420 thousand,
ribu atau 103,52% dari RKAP, dengan kontribusi terbesar berasal or 103.52% of the RKAP (Work Plan and Budget), with the largest
dari Area Kamojang sebesar USD149.458 ribu. contribution coming from the Kamojang Area at USD149,458
thousand.
(dalam USD ribu | in USD thousand)
RKAP1 2025 Realisasi 2025 Pencapaian terhadap RKAP
Area
2025 WP&B 2025 Realization Achievement against WP&B
Kamojang
145.113 149.458 4.345
Kamojang
Lahendong
79.306 79.919 613
Lahendong
Ulubelu
117.925 116.270 (1.655)
Ulubelu
Karaha
10.143 10.132 (11)
Karaha
Lumut Balai
48.789 59.641 10.852
Lumut Balai
Penjualan Total (Penjualan Operasi Sendiri)
401.277 415.420 14.143
Total Sales (Own Operations Sales)
1
Rencana Kerja dan Anggaran Perusahaan (RKAP) l Work Plan and Budget (WP&B)
PT Pertamina Geothermal Energy Tbk
Page 224
222 Laporan Tahunan 2025 | 2025 Annual Report
Perbandingan Target dan Realisasi Comparison of Target and Actual
Produksi Production
Produksi Perseroan sepanjang tahun 2025 terealisasi 5.095,48 The Company’s production throughout 2025 reached 5,095.48
GWh atau 103,81% dari RKAP 4.908,24 GWh. Pencapaian GWh, or 103.81% of the 4,908.24 GWh target set by the
tersebut didukung oleh optimalisasi load factor PLTP, percepatan Company’s Work Plan and Budget (RKAP). This achievement
hari maintenance PLTP serta penambahan suplai uap dari PLTP was supported by optimizing the geothermal power plant’s load
Ulubelu, Karaha dan Lahendong. factor, accelerating maintenance days, and increasing steam
supply from the Ulubelu, Karaha, and Lahendong geothermal
power plants.
(dalam GWh | in GWh)
Uraian RKAP1 2025 Realisasi 2025 Pencapaian terhadap RKAP
Description 2025 WP&B 2025 Realization Achievement against WP&B
Produksi Operasi Sendiri Produksi Uap | Steam Production 2.331,90 2.382,87 102,19%
Own Operation Production
Produksi Listrik | Electricity Production 2.576,34 2.712,61 105,29%
Total 4.908,24 5.095,48 103,81%
1
Rencana Kerja dan Anggaran Perusahaan (RKAP) l Work Plan and Budget
(dalam GWh | in GWh)
RKAP 2025 1
Realisasi 2025 Pencapaian terhadap RKAP
Area
2025 WP&B 2025 Realization Achievement against WP&B
Kamojang
1.723,77 1.806,40 104,79%
Kamojang
Lahendong
846,17 848,82 100,31%
Lahendong
Ulubelu
1.643,03 1.616,53 98,39%
Ulubelu
Karaha
110,35 109,63 99,35%
Karaha
Lumut Balai
584,92 714,10 122,09%
Lumut Balai
Penjualan Total
4.908,24 5.095,48 103,81%
Total Sales
1
Rencana Kerja dan Anggaran Perusahaan (RKAP) l Work Plan and Budget
Perbandingan Posisi Keuangan Antara Comparison of Financial Position
Target Awal Tahun Buku 2025 dan Between Initial Target for Fiscal Year
Realisasi, serta Perbandingannya 2025 and Actual, and Comparison with
Dengan Realisasi Tahun Buku 2024 Actual for Fiscal Year 2024
(dalam USD ribu | in USD thousand)
2025 2024
Uraian
Description RKAP1
Realisasi RKAP 1
Realisasi
WP&B Realization WP&B Realization
Aset
Assets
Aset Lancar
876.157 880.973 505.868 828.555
Current Assets
Aset Tidak Lancar
2.354.106 2.153.478 2.523.038 2.168.847
Non-Current Assets
Jumlah Aset
3.230.263 3.034.451 3.028.906 2.997.402
Total Assets
Liabilitas
Liabilities
Liabilitas Jangka Pendek
231.841 214.299 198.127 227.296
Current Liabilities
PT Pertamina Geothermal Energy Tbk
Page 225
Laporan Tahunan 2025 | 2025 Annual Report 223
(dalam USD ribu | in USD thousand)
2025 2024
Uraian
Description RKAP 1
Realisasi RKAP 1
Realisasi
WP&B Realization WP&B Realization
Liabilitas Jangka Panjang
882.694 774.589 809.751 761.354
Long-Term Liabilities
Jumlah Liabilitas
1.114.535 988.888 1.007.877 988.650
Total Liabilities
Ekuitas
Equity
Jumlah Ekuitas
2.115.728 2.045.563 2.021.029 2.008.752
Total Equity
Jumlah Liabilitas dan Ekuitas
3.230.263 3.034.451 3.028.906 2.997.402
Total Liabilities and Equity
1
Rencana Kerja dan Anggaran Perusahaan (RKAP) l Work Plan and Budget
PROYEKSI UNTUK SATU TAHUN PROJECTIONS FOR THE NEXT YEAR
MENDATANG
Perseroan telah menetapkan proyeksi untuk satu tahun The Company has established its projection for the upcoming year
mendatang melalui RKAP tahun 2026. Proyeksi yang disajikan through the 2026 RKAP. The projections presented in this report
dalam laporan ini mengandung berbagai ketidakpastian dan involve various uncertainties and risks. The Company’s actual
risiko. Realisasi hasil, kinerja, maupun pencapaian aktual results, performance, and achievements may differ from those
Perseroan dapat berbeda dari yang diproyeksikan, antara lain projected due to several factors, including changes in economic
dipengaruhi oleh perubahan kondisi ekonomi dan politik, baik di and political conditions at both national and regional levels;
tingkat nasional maupun regional; fluktuasi nilai tukar mata uang fluctuations in foreign exchange rates; dynamics in commodity
asing; dinamika harga, permintaan, dan penawaran di pasar prices, demand, and supply; shifts in the level of competition;
komoditas; perubahan tingkat persaingan; serta penyesuaian and adjustments to applicable regulations, policies, accounting
terhadap peraturan, kebijakan, standar akuntansi, dan pedoman standards, and guidelines. Such differences may also arise
yang berlaku. Selain itu, perbedaan tersebut juga dapat from changes in the assumptions underlying forward-looking
timbul akibat perubahan atas asumsi-asumsi yang mendasari statements.
pernyataan yang bersifat forward-looking.
Strategi Usaha Perseroan Company Business Strategy
PGEO to Maximizing the Geothermal Energy Potentials
Current Revenue Growing/Business Future Revenue
Generator Expansion Streams
Maintain 727 MW Future Assets Beyond Electricity
Existing Plants
• Greenfield & Brownfield Projects • Greenfield & Brownfield Projects
• Realibility & Operation Excellence • Optimizing (Co-generation) • Optimizing (Co-generation)
• Reservior & Drilling Management • New Business Scheme & • New Business Scheme &
• Business & Operation Sustainability Partnership Partnership
• Merger & Acquititions • Merger & Acquititions
• Global Expansion • Global Expansion
PGE to become the Geothermal Centre of Excellence
PT Pertamina Geothermal Energy Tbk
Page 226
224 Laporan Tahunan 2025 | 2025 Annual Report
Strategi Perseroan pada tahun 2026 dibangun melalui tiga pilar The Company’s strategy for 2026 is built upon 3 (three) main
utama yang saling terintegrasi, yaitu memperkuat aset eksisting integrated pillars: strengthening existing assets as the primary
sebagai sumber pendapatan utama, mempercepat ekspansi source of revenue, accelerating business expansion to drive
bisnis untuk mendorong pertumbuhan, serta mengembangkan growth, and developing new revenue streams beyond electricity.
sumber pendapatan baru di luar listrik (beyond electricity). These three pillars form the foundation for realizing the Company’s
Ketiga pilar ini menjadi pondasi dalam mewujudkan ambisi ambition to become a global leader in the geothermal sector and
Perseroan untuk menjadi pemimpin global di sektor panas bumi to establish PGE as a Geothermal Centre of Excellence.
dan mewujudkan PGE sebagai Geothermal Centre of Excellence.
1. Memperkuat aset exsisting sebagai sumber pendapatan 1. Strengthening Existing Assets as the Primary Source of
utama
PGE terus memastikan optimalisasi operasional dan PGE continues to ensure the optimization of operations
keandalan aset pembangkit panas bumi yang saat ini memiliki and the reliability of its geothermal power plant assets,
kapasitas terpasang sebesar 727 MW. Perseroan secara which currently have an installed capacity of 727 MW.
konsisten meningkatkan keunggulan operasional (operational The Company consistently enhances operational excellence
excellence) melalui penguatan pengelolaan reservoir, through strengthening reservoir management, optimizing
optimalisasi kegiatan pengeboran, serta peningkatan drilling activities, and improving the reliability of power
keandalan fasilitas pembangkit. Upaya ini dilakukan plant facilities. These efforts are carried out while prioritizing
dengan tetap mengedepankan prinsip keberlanjutan dalam sustainability principles in the management of geothermal
pengelolaan sumberdaya panas bumi. resources.
2. Mempercepat ekspansi bisnis untuk mendorong pertumbuhan 2. Accelerating Business Expansion to Drive Growth
Selain memperkuat fondasi bisnis, PGE juga menjalankan In addition to strengthening its business foundation, PGE is
strategi pertumbuhan melalui pengembangan portofolio also executing a growth strategy through the sustainable
aset panas bumi secara berkelanjutan, baik melalui development of its geothermal asset portfolio, both through
proyek greenfield maupun brownfield. Perseroan juga greenfield and brownfield projects. The Company is also
mengoptimalkan potensi peningkatan kapasitas melalui optimizing potential capacity increases through co-generation
teknologi co-generation, pengembangan skema bisnis baru technology, developing new business schemes, and forming
serta kemitraan strategis, termasuk peluang merger dan strategic partnerships, including merger and acquisition
akuisisi yang dapat memperkuat posisi Perseroan dalam opportunities that can strengthen the Company’s position
industri panas bumi. Di samping itu, PGE juga membuka in the geothermal industry. Furthermore, PGE is opening up
peluang ekspansi global untuk memperluas jejak operasional opportunities for global expansion to broaden its operational
sekaligus memanfaatkan kapabilitas teknis yang telah footprint while leveraging its existing technical capabilities.
dimiliki.
Melalui berbagai inisiatif strategis tersebut, Perseroan Through these various strategic initiatives, the Company
menargetkan peningkatan kapasitas terpasang sehingga targets an increase in installed capacity to achieve the
dapat mencapai posisi sebagai perusahaan panas bumi position of a geothermal company with a capacity of 1 GW
berkapasitas 1 GW dalam jangka pendek (2–3 tahun ke in the short term (within the next 2–3 years), and to continue
depan), serta melanjutkan pertumbuhan menuju perusahaan growing towards becoming a geothermal company with a
panas bumi dengan kapasitas hingga 3 GW dalam jangka capacity of up to 3 GW in the long term.
panjang.
3. Mengembangkan sumber pendapatan baru di luar listrik 3. Developing New Revenue Streams Beyond Electricity
(beyond electricity)
PGE melihat bahwa potensi energi panas bumi tidak hanya PGE recognizes that the potential of geothermal energy is
terbatas pada pembangkitan listrik, namun juga memiliki not limited to electricity generation, but also holds significant
peluang besar untuk menciptakan nilai ekonomi baru opportunities to create new economic value for the Company’s
bagi keberlanjutan bisnis Perseroan. Sebagai bagian dari business sustainability. As part of its long-term transformation
strategi transformasi jangka panjang, Perseroan tengah strategy, the Company is exploring various opportunities
mengeksplorasi berbagai peluang pengembangan bisnis for beyond electricity business development, including the
beyond electricity, termasuk ekstraksi mineral bernilai extraction of high-value minerals such as silica and lithium,
tinggi seperti silika dan lithium, pengembangan potensi developing the potential of green hydrogen and green
hidrogen hijau, ammonia hijau, pemanfaatan panas ammonia, utilizing geothermal energy for various industrial
bumi untuk berbagai aplikasi industri dan komersial, serta and commercial applications, and developing technologies
pengembangan teknologi pendukung industri panas bumi. to support the geothermal industry. These efforts are
Upaya ini diperkuat melalui peningkatan kapabilitas riset strengthened through enhancing research and development
dan pengembangan (R&D) serta kolaborasi dengan mitra (R&D) capabilities and collaboration with strategic partners
strategis dan pengembang teknologi. and technology developers.
PT Pertamina Geothermal Energy Tbk
Page 227
Laporan Tahunan 2025 | 2025 Annual Report 225
Proyeksi Operasional Operational Projection
Perseroan memproyeksikan kinerja operasional yang terus The Company projects continued improvement in operational
meningkat sejalan dengan optimalisasi kapasitas produksi performance in line with the optimization of production capacity
dan keandalan fasilitas yang telah beroperasi. Dengan and the reliability of its operating facilities. Taking into account
mempertimbangkan kondisi reservoir serta jadwal pemeliharaan reservoir conditions and scheduled maintenance activities, the
terjadwal. Perseroan menargetkan peningkatan volume minimal Company targets an increase in minimum steam and electricity
produksi uap dan listrik pada tahun mendatang sebagaimana production volumes in the coming year, as presented in the
disajikan pada tabel berikut. following table.
Proyeksi Produksi Uap dan Listrik
Steam and Electricity Production Projection
(dalam GWh | in GWh)
Uraian Realisasi 2025 Target 2026
Description 2025 Realization 2026 Target
Produksi Uap 2.382 2.356
Steam Production
Produksi Listrik 2.713 2.899
Electricity Production
Total 5.095 5.2551
1
Volume produksi minimal | Minimum production volume
Target produksi uap dan listrik Perseroan pada tahun 2026 The Company has set its 2026 steam and electricity production
ditetapkan sebesar 5.255 GWh, yang merupakan batas minimal target at 5,255 GWh, representing the minimum achievable
produksi yang dapat dicapai dengan mempertimbangkan output under baseline operating conditions. Actual production
kondisi operasi dasar. Realisasi produksi berpotensi melampaui may exceed this target as a result of operational performance
target tersebut seiring dengan program optimalisasi kinerja optimization programs, including the acceleration of production
operasional, termasuk percepatan durasi pemeliharaan asset asset maintenance timelines, improved plant reliability, and
produksi, peningkatan keandalan pembangkit, serta adanya potential incremental demand from customers. The projected
potensi tambahan permintaan dari pelanggan. Kontribusi production contribution is expected to be generated from several
produksi tersebut diproyeksikan berasal dari beberapa wilayah of the Company’s working areas, as presented in the table below.
kerja Perseroan sebagaimana ditunjukkan pada tabel di bawah
ini.
(dalam GWh | in GWh)
Realisasi 2025 Target 2026
Area
2025 Realization 2026 Target
Kamojang 1.806 1.836
Lahendong 849 792
Ulubelu 1.617 1.618
Karaha 109 92
Lumut Balai 714 917
Total 5.095 5.255
Proyeksi Aktivitas Pemboran Drilling Activity Projection
Perseroan berkomitmen untuk menjaga keberlanjutan produksi The Company is committed to sustaining production and
dan keandalan operasi melalui pelaksanaan program operational reliability through the execution of a structured
pemboran yang terencana. Kegiatan pemboran ini dilakukan drilling program. These activities are undertaken to ensure the
untuk memastikan ketersediaan uap panas bumi dalam availability of geothermal steam to meet contractual obligations
memenuhi kontrak jual beli kepada pelanggan, mengantisipasi with customers, mitigate the natural decline in well productivity,
penurunan alami produktivitas sumur, serta mendukung and support capacity expansion projects across geothermal fields.
proyek pengembangan kapasitas terpasang lapangan panas In 2026, the Company targets 19 drilling activities, comprising
bumi. Pada tahun 2026, Perseroan menargetkan 19 aktivitas exploration drilling, development and make-up, and Workover
pemboran yang mencakup pemboran eksplorasi, development and Well Intervention (KURS) activities to maintain reliable steam
& make-up, serta kegiatan Kerja Ulang Reparasi Sumur (KURS) supply and optimize operational performance. The planned
guna menjaga pasokan uap yang andal dan mengoptimalkan drilling activities are presented in the following table.
kinerja operasi. Rencana aktivitas pemboran tersebut disajikan
pada tabel berikut.
PT Pertamina Geothermal Energy Tbk
Page 228
226 Laporan Tahunan 2025 | 2025 Annual Report
Uraian Realisasi 2025 Target 2026
Description 2025 Realization 2026 Target
Pemboran Eksplorasi 0 sumur | well 5 sumur | well
Exploration Drilling
Pemboran Development & Make Up 2 sumur | well 14 sumur | well
Development & Make-Up Drilling
Kerja Ulang Reparasi Sumur (KURS) 0 sumur | well 2 sumur | well
Well Repair Workover (KURS)
Detail rencana aktivitas pemboran Perseroan per area proyek Detailed drilling activity plans by project area are presented in
disajikan pada tabel berikut. the following table.
Area/Proyek Pemboran Eksplorasi Pemboran Development & Make Up Kerja Ulang Reparasi Sumur (KURS)
Area/Project Exploration Drilling Development & Make-Up Drilling Workover and Well Intervention
Kamojang 0 sumur | well 2 sumur | well 1 sumur | well
Lahendong 0 sumur | well 3 sumur | well 0 sumur | well
Ulubelu 0 sumur | well 2 sumur | well 1 sumur | well
Lumut Balai 0 sumur | well 7 sumur | well 0 sumur | well
Gunung Tiga 2 sumur | well 0 sumur | well 0 sumur | well
Kotamobagu 2 sumur | well 0 sumur | well 0 sumur | well
Seulawah 1 sumur | well 0 sumur | well 0 sumur | well
Total 5 sumur | well 14 sumur | well 2 sumur | well
Proyeksi Pengembangan Proyek Project Development Projection
Perseroan terus mengekselerasi proses pengembangan melalui The Company continues to accelerate its development process
beberapa proyek penambahan kapasitas terpasang dan proyek through several capacity expansion initiatives and downstream
pengembangan produk turunan panas bumi sebagai berikut: geothermal product development projects, as outlined below:
Proyek Penambahan Kapasitas Installed Capacity Expansion Projects
Terpasang
Perseroan menargetkan percepatan pengembangan The Company targets the acceleration of 10 projects in 2026 to
10 proyek pada tahun 2026 guna memastikan pencapaian ensure the achievement of Commercial Operation Date (COD)
target Commercial Operation Date (COD) sesuai dengan milestones in line with the project development plan set out in
rencana pengembangan proyek dalam Rancangan Rencana the Long-Term Development Plan (RJPP). This acceleration is also
Pembangunan Jangka Panjang (RJPP) yang telah ditetapkan. intended to optimize the utilization of the Company’s geothermal
Langkah percepatan ini juga diarahkan untuk mengoptimalkan reserves, with a potential capacity of 3 GW, while supporting
pemanfaatan cadangan panas bumi Perseroan yang mencapai the achievement of an installed capacity target of 1 GW within
potensi sebesar 3 GW, sekaligus mendukung pencapaian target the next two years, which is expected to further increase to 1.8
kapasitas terpasang sebesar 1 GW dalam dua tahun ke depan GW by 2034.
yang selanjutnya diharapkan meningkat hingga 1,8 GW pada
tahun 2034.
Proyek Kapasitas (MW) Lokasi Target 2026
No.
Project Capacity (MW) Location Target 2026
1 Seulawah + Binary Unit 55 + 17 Seulawah Agam-Aceh Pembebasan lahan dan pemboran eksplorasi
Land acquisition and exploration drilling
2 Kotamobagu + Binary Unit 50 + 14 Kotamobagu-Sulawesi Utara Pembebasan lahan dan pemboran eksplorasi
Land acquisition and exploration drilling
3 Gunung Tiga + Binary Unit 2 X 27,5 Way Panas-Lampung Selesainya pemboran sumur eksplorasi
Completion of exploration well drilling
4 Bukit Daun Unit 1 & 2 2 x 20 + 10 Hululais-Bengkulu Negoisasi dan perolehan PPA
PPA Negotiation and Acquisition
5 Lahendong Unit 7 & 8 40 + 10 Minahasa-Sulawesi Utara | North Sulawesi Negoisasi dan perolehan PPA
Binary Unit PPA Negotiation and Acquisition
6 Lumut Balai Unit 3 55 Lumut Balai dan Margabayur-Sumatera Pemboran pengembangan
Selatan | South Sumatra Development Drilling
PT Pertamina Geothermal Energy Tbk
Page 229
Laporan Tahunan 2025 | 2025 Annual Report 227
Proyek Kapasitas (MW) Lokasi Target 2026
No.
Project Capacity (MW) Location Target 2026
7 Lumut Balai Unit 4 55 Lumut Balai dan Margabayur-Sumatera Persiapan infrastruktur eksplorasi
Selatan | South Sumatra Exploration Infrastructure Preparation
8 Hululais Unit 1 & 2 2 x 55 Lumut Balai dan Margabayur-Sumatera Procurement EPCC
Selatan | South Sumatra
9 Lahendong Binary Unit 15 Minahasa-Sulawesi Utara | North Sulawesi Perolehan PPA dan pembangunan pembangkit
Acquisition of PPA and construction of power plant
10 Ulubelu Binary Unit 30 Way Panas-Lampung Perolehan PPA dan pembangunan pembangkit
Acquisition of PPA and construction of power plant
Proyek Pengembangan Produk Turunan Geothermal Derivative Product
Panas Bumi Development Projects
Selain pengembangan kapasitas terpasang panas bumi, In addition to expanding installed geothermal capacity, the
Perseroan juga terus memperluas pemanfaatan energi panas Company continues to broaden the utilization of geothermal
bumi melalui berbagai inisiatif pengembangan produk turunan. energy through various derivative product development initiatives.
Pada tahun 2026, Perseroan menargetkan penyelesaian In 2026, the Company targets the completion of the pilot power
konstruksi pilot power plant untuk proyek Green Hydrogen di plant construction for the Green Hydrogen project in the Ulubelu
area Ulubelu sebagai langkah awal pengembangan ekosistem area as an initial step toward developing a green hydrogen
hidrogen hijau di Indonesia. Selain itu, Perseroan juga mendorong ecosystem in Indonesia. The Company is also advancing the
komersialisasi inovasi melalui pemasaran Flow2Max® Technology commercialization of its innovations through the marketing of
serta layanan Jasa Laboratorium Geothermal, yang diharapkan Flow2Max® Technology and Geothermal Laboratory Services,
dapat memperluas sumber pendapatan dan memperkuat posisi which are expected to diversify revenue streams and strengthen
Perseroan dalam ekosistem panas bumi. the Company’s position within the geothermal ecosystem.
Proyek Target 2026
No.
Project Target 2026
1 Green Hydrogen (Pilot Project) Penyelesaian konstruksi power plant
Power Plant Construction Completion
2 Flow2Max® Technology Pemasaran produk
Product Marketing
3 Jasa Laboratorium Geothermal Pemasaran produk
Geothermal Laboratory Services Product Marketing
Proyeksi Pendapatan dan Laba Revenue and Profit Projection
Pada tahun 2026, Perseroan memproyeksikan pertumbuhan In 2026, the Company projects growth in financial performance,
kinerja keuangan yang didukung oleh peningkatan kapasitas supported by increased production capacity and optimized
produksi dan optimalisasi kinerja operasional. Peningkatan operational performance. Revenue growth is expected to be
pendapatan usaha diharapkan berasal dari bertambahnya driven by higher steam and electricity production volumes, while
volume produksi uap dan listrik, sementara Perseroan tetap the Company remains focused on cost control and efficiency to
berfokus pada pengendalian biaya dan efisiensi untuk menjaga maintain EBITDA and net income performance. The projected
kinerja EBITDA dan laba bersih. Proyeksi kinerja keuangan financial performance is presented in the following table.
tersebut disajikan pada tabel berikut.
(dalam USD juta |in USD million)
Uraian Target 2025 Realisasi 2025 % Pencapaian Target 2026
Description 2025 Target 2025 Realization Achievement (%) 2026 Target
Pendapatan Usaha 418,79 432,73 103,33% 445-455
Operating Revenue
EBITDA 327,31 330,35 100,93% 340-350
Laba Bersih 153,510 141,12 91,93% 150-160
Net Income
Agar dapat mencapai target untuk satu tahun mendatang, maka To achieve this target for the coming year, the Company will
Perseroan akan menjalankan strategi sebagai berikut: implement the following strategies:
PT Pertamina Geothermal Energy Tbk
Page 230
228 Laporan Tahunan 2025 | 2025 Annual Report
1. Memastikan tata waktu pelaksanaan program sesuai dengan 1. Ensure the program implementation timeline is in accordance
tata waktu yang telah direncanakan. with the planned timeline.
2. Memastikan anggaran pelaksanaan program tidak melebihi 2. Ensure the program implementation budget does not exceed
rencana anggaran. the planned budget.
3. Memastikan pekerjaan dan material yang disediakan sesuai 3. Ensure the work and materials provided comply with the
dengan spesifikasi yang ditentukan dalam dokumen proyek. specifications specified in the project documents.
4. Memastikan deliverable/return program sesuai dengan 4. Ensure program deliverables/returns are in line with
tujuan. objectives.
5. Memastikan terpenuhinya pelaksanaan HSSE dalam setiap 5. Ensure the implementation of HSSE in every program and
program dan tahapan. stage.
Untuk tahun mendatang, Perseroan akan tetap melakukan In the coming year, the Company will continue to monitor and
pemantauan dan mengevaluasi peluang-peluang ekspansi evaluate inorganic expansion opportunities both domestically
anorganik di dalam maupun luar negeri khususnya di negara and internationally, particularly in countries with Government-
dengan relasi Government to Government (G2G) di bidang to-Government (G2G) relationships in the energy sector
energi dengan Indonesia, maupun negara-negara lain yang with Indonesia, such as Kenya and Turkey, as well as other
memiliki proven geothermal resources and development. countries with proven geothermal development.
Proyeksi Struktur Modal Capital Structure Projection
(dalam USD ribu| in USD thousand)
Uraian
2026 2025 USD %
Description
Liabilitas
Liabilities
Liabilitas Jangka Pendek
236.354 214.299 22.055 10,29%
Current Liabilities
Liabilitas Jangka Panjang
779.392 774.589 4.803 0,62%
Non-CurrentLiabilities
Jumlah Liabilitas
1.015.746 988.888 26.858 2,72%
Total Liabilities
Ekuitas
2.127.984 2.045.563 82.421 4,03%
Equity
Modal Kerja
568.912 666.674 (97.762) (14,66%)
Working Capital
PROSPEK USAHA BUSINESS PROSPECTS
Komitmen pemerintah untuk meningkatkan bauran energi baru The government’s commitment to increasing the mix of new and
dan terbarukan (EBT) khususnya panas bumi, serta proyeksi renewable energy (NRE), particularly geothermal, along with
pertumbuhan ekonomi yang positif, berpotensi mendukung positive economic growth projections, has the potential to support
kinerja Perseroan dalam setahun mendatang. the Company’s performance in the coming year.
Pemerintah melalui Kementerian Keuangan memasang target The government, through the Ministry of Finance, has set a
proyeksi pertumbuhan hingga 5,4% pada 2026, seperti yang projected growth target of up to 5.4% for 2026, as outlined in
ditetapkan dalam Rancangan Anggaran Pendapatan dan the 2026 Draft State Budget (RAPBN). In the same document, the
Belanja Negara (RAPBN) 2026. Dalam dokumen yang sama, government also stated that, for the oil and gas and geothermal
pemerintah juga mengungkapkan, untuk subsektor migas dan subsectors, policy focus will be directed through coordination
panas bumi, fokus kebijakan diarahkan melalui koordinasi with Production Sharing Contractors (PSCs).
dengan Kontraktor Kontrak Kerja Sama (KKKS).
Kebijakan tersebut diambil dengan harapan dapat mempercepat This policy was adopted with the hope of accelerating and
dan meningkatkan aktivitas eksplorasi dan produksi. Dengan increasing exploration and production activities. This will, in turn,
demikian, mampu mendorong kontribusi sektor tersebut terhadap boost the sector’s contribution to the national economy.
perekonomian nasional.
PT Pertamina Geothermal Energy Tbk
Page 231
Laporan Tahunan 2025 | 2025 Annual Report 229
Peluang energi panas bumi masih sangat terbuka luas. Menurut Geothermal energy opportunities remain vast. According to data
data dalam Rencana Usaha Penyediaan Tenaga Listrik (RUPTL) from PT PLN (Persero)’s Electricity Supply Business Plan (RUPTL),
PT PLN (Persero), pemanfaatan panas bumi di Indonesia saat ini geothermal utilization in Indonesia currently stands at only
hanya sebesar 4,9% melalui kapasitas terpasang 1.438,5 MW. 4.9%, with an installed capacity of 1,438.5 MW. However, the
Padahal, potensinya mencapai 29.544 MW. potential reaches 29,544 MW.
Rencana Kapasitas Terpasang PLTP pada RUPTL 2025-2034
Geothermal Power Plant Installed Capacity Plan in the 2025–2034 RUPTL
(dalam MW |in MW)
Wilayah Jumlah
2025 2026 2027 2028 2029 2030 2031 2032 2033 2034
Area Total
Sumatera
88 - 105 195 - 244 815 - 570 - 2.017
Sumatra
Jawa-Madura-
Bali
45 95 170 80 25 280 390 378 1.040 - 2.503
Java-Madura-
Bali
Sulawesi - - 30 40 10 - 20 65 140 - 305
Maluku-Papua-
- - - 31 36 40 40 130 55 - 332
Nusa Tenggara
Total Indonesia 133 95 305 346 71 564 1.265 573 1.805 - 5.157
ASPEK PEMASARAN DAN PANGSA MARKETING ASPECTS AND MARKET
PASAR SHARE
Energi panas bumi bersifat spesifik karena tidak dapat dipindah Geothermal energy is specific in nature because it cannot be
atau disimpan, namun harus melalui pemanfaatan lokal (in-situ). transported or stored, but rather must be utilized locally (in-situ).
Hal tersebut memengaruhi beberapa faktor, seperti kemampuan This influences several factors, such as market capacity, business
pasar, aspek bisnis, teknis, dan kebijakan yang ditetapkan. aspects, technical considerations, and established policies.
Strategi Pemasaran Marketing Strategy
Kekhususan produk yang dihasilkan menjadikan pelanggan The specific nature of the product produced means that the
Perseroan saat ini hanya PT Perusahaan Listrik Negara (Persero) Company’s current customer is only PT Perusahaan Listrik Negara
atau PLN. Dengan demikian, Perseroan tidak melaksanakan (Persero) or PLN. Accordingly, the Company does not carry out
program pemasaran atau promosi secara bebas dan terbuka, free and open marketing or promotion programs, but instead
namun tetap menjaga kesinambungan PJBU dan PJBL dalam focuses on maintaining the sustainability of the Power Purchase
jangka panjang. Agreements (PPA) and Steam Sales Contract (SSC) in the long
term.
Pangsa Pasar Market Share
Saat ini, Perseroan mengelola 15 WKP dengan kapasitas Currently, the Company manages 15 geothermal working areas
terpasang PLTP sebesar 1.943 MW atau sekitar 71,59% dari with an installed geothermal power plant capacity of 1,943 MW,
total kapasitas terpasang nasional 2,7 GW, menurut Kementerian or approximately 71.59% of the national total installed capacity
ESDM. Dengan demikian, PGE menjadi pengelola panas bumi of 2.7 GW, according to the Ministry of Energy and Mineral
terbesar di dalam negeri. Resources. As a result, PGE is the largest geothermal operator in
the country.
Hingga periode pelaporan, Perseroan mencatat sejumlah Up to the reporting period, the Company recorded several
kemajuan penting dalam pengembangan bisnis turunan significant advances in the development of geothermal derivative
geothermal melalui komersialisasi produk Flow2Max® dan PGE businesses through the commercialization of Flow2Max® and PGE
Labs. Perseroan telah memperoleh persetujuan pemegang saham Labs products. The Company obtained shareholder approval for
untuk komersialisasi kedua produk tersebut sebagai bagian dari the commercialization of these two products as part of developing
pengembangan sumber pendapatan baru berbasis kapabilitas new revenue streams based on internal capabilities.
internal.
PT Pertamina Geothermal Energy Tbk
Page 232
230 Laporan Tahunan 2025 | 2025 Annual Report
Khusus untuk Flow2Max®, Perseroan juga berhasil membangun Specifically, for Flow2Max®, the Company also succeeded in
kerja sama strategis 3 (tiga) pihak antara PGE, Ecolab, establishing a 3 (three)-party strategic cooperation between
dan PT Sigma Cipta Utama (SCU), yang menjadi landasan PGE, Ecolab, and PT Sigma Cipta Utama (SCU), which serves
pengembangan teknologi serta perluasan akses pasar. Di sisi lain, as a foundation for technology development and expanding
pengembangan ekosistem green hydrogen turut menunjukkan market access. On the other hand, the development of the green
progres melalui penandatanganan Joint Study Agreement (JSA) hydrogen ecosystem also showed progress through the signing of
antara PGE dengan Toyota Motor Manufacturing Indonesia a Joint Study Agreement (JSA) between PGE and Toyota Motor
(TMMIN) serta kerja sama dengan PT Pertamina Energy Terminal, Manufacturing Indonesia (TMMIN), as well as cooperation with
yang membuka peluang integrasi hidrogen dalam ekosistem PT Pertamina Energy Terminal, which opens up opportunities for
energi bersih di lingkungan Pertamina. hydrogen integration within the clean energy ecosystem in the
Pertamina environment.
Perseroan menargetkan realisasi tambahan pendapatan lain-lain The Company targets the realization of additional other income
dari program komersialisasi produk non-konvensional di tahun from the commercialization program of non-conventional
2026. Selain itu, dalam rangka meningkatkan pendapatan lain- products in 2026. Furthermore, in order to increase other
lain secara eksponensial di tahun-tahun mendatang, Perseroan income exponentially in the coming years, the Company will also
juga akan melakukan upaya penetrasi pasar melalui berbagai undertake market penetration efforts through various strategic
inisiatif strategis. Di antara inisiatif tersebut, peningkatan initiatives. Among these initiatives are increasing Flow2Max®
eksposur Flow2Max® melalui kegiatan global site visits kepada exposure through global site visits to potential customers,
calon pelanggan potensial, partisipasi dalam tender layanan participating in laboratory service tenders through PGE Labs,
laboratorium melalui PGE Labs serta pengembangan model and developing new business models through the addition of
bisnis baru melalui penambahan Klasifikasi Baku Lapangan new KBLI (Indonesian Business Field Standard Classification)
Usaha Indonesia (KBLI) dan penyusunan studi kelayakan codes and preparing a feasibility study for the commercialization
komersialisasi Hydrogen Fuel Cell Generator (HFCG) guna of a Hydrogen Fuel Cell Generator (HFCG) to support the
mendukung pengembangan ekosistem green hydrogen di development of the Green Hydrogen ecosystem within Pertamina
lingkungan Pertamina maupun mitra bisnis lainnya. Sejalan and with other business partners. In line with this, the Company
dengan hal tersebut, Perseroan juga terus memperkuat model also continues to strengthen its business model, develop strategic
bisnis, mengembangkan kemitraan strategis, serta menjajaki partnerships, and explore market opportunities both domestically
peluang pasar baik di tingkat domestik maupun internasional. and internationally.
Survei Kepuasan Pelanggan Customer Satisfaction Survey
PGE terus membangun komunikasi dan hubungan baik dengan PGE continues to build good communication and relationships
PLN, dengan menjamin pasokan listrik dan menjaga kualitas with PLN by ensuring electricity supply and maintaining the
layanan yang diberikan. Perseroan melaksanakan survei quality of service provided. The company conducts a customer
kepuasan pelanggan minimal satu kali setahun untuk mengetahui satisfaction survey at least once a year to determine levels of
tingkat kepuasan terkait produk, pelayanan, lingkungan dan hal satisfaction with products, services, the environment, and other
penting lainnya. important aspects.
Pada tahun 2025, survei kepuasan terhadap PLN melibatkan In 2025, the PLN satisfaction survey involved 158 respondents
158 responden yang memiliki tugas dan berhubungan dengan who worked in and were connected to the Company’s Operations
Direktorat Operation Perseroan, baik di level operator hingga Directorate, from the operational level to the managerial level.
level manajerial. Dari hasil survei diketahui Indeks Kepuasan The survey results show that the Customer Satisfaction Index
Pelanggan mencapai 97,19%, meningkat dibandingkan tahun reached 97.19%, an increase from 96.67% in 2024.
2024 yang sebesar 96,67%.
2025 2024 2023 2022 2021
Indeks Kepuasan Pelanggan
97,19% 96,67% 96,42% 96,13% 93,82%
Customer Satisfaction Index
PT Pertamina Geothermal Energy Tbk
Page 233
Laporan Tahunan 2025 | 2025 Annual Report 231
Penanganan Pengaduan Pelanggan Customer Complaints Handling
Perseroan menyediakan sarana pengaduan terkait produk dan The Company provides a complaint handling facility related to its
pelayanan yang diberikan melalui: products and services through:
Kantor Pusat PT Pertamina Geothermal Energy Tbk Head Office: PT Pertamina Geothermal Energy Tbk, Grha
Grha Pertamina - Tower Pertamax Lt. 7 Pertamina - Pertamax Tower, 7th Floor
Jl. Medan Merdeka Timur No. 11-13 Gambir, Jakarta Pusat Jl. Medan Merdeka Timur No. 11-13, Gambir, Central Jakarta
10110 10110
Telepon : (021) 3983 3222 Telephone : (021) 3983 3222
Surel : pcc@pertamina.com E-mail : pcc@pertamina.com
Pertamina Contact Center : 135 Pertamina Contact Center : 135
Laporan pengaduan akan diteruskan kepada Tim Backroom Complaint reports will be forwarded to the Backroom Team
untuk dilakukan analisa terhadap keluhan tersebut. Pengelolaan for analysis. Customer complaint management refers to the
keluhan pelanggan mengacu pada Tata Kerja Organisasi Organizational Procedures for Handling Customer Problems/
Penanganan Permasalahan/Keluhan pelanggan No. B-003/ Complaints No. B-003/PGE212/2018-S9. As of the end of
PGE212/2018-S9. Hingga akhir tahun 2025 Perseroan tidak 2025, the Company has not received any complaints from
menerima pengaduan apa pun dari pelanggan. customers.
Alur Proses Penanganan Pengaduan Customer Complaint Handling Process
Pelanggan Flow
Pemangku Kepentingan Keluhan Diterima Identifikasi dan Klarifikasi Masalah Eskalasi/Disposisi Klarifikasi Masalah
Shareholder Complaints Received Promblem Idenfication and Classification Escalation/Disposition Classification of Problems
Konfirmasi Solusi Masalah Solusi Masalah Analisis Masalah
Confirm Problem Solution Problem Solution Problem Analysis
Improvement dan Pencegahan Keluhan
Complaint Improvement and Prevention
REALISASI PENGGUNAAN DANA HASIL USE OF PROCEEDS FROM THE PUBLIC
PENAWARAN UMUM OFFERING
Perseroan melaksanakan Penawaran Umum Perdana Saham The Company conducted an Initial Public Offering (IPO) on 20-22
(IPO) pada 20–22 Februari 2023 dan berhasil menghimpun February 2023, raising Rp9,056,250,000,000. Approximately
dana sebesar Rp9.056.250.000.000. Dana hasil IPO 85% of the IPO proceeds, after deducting all share issuance costs,
tersebut, setelah dikurangi seluruh biaya emisi saham, sekitar were allocated to support the Company’s business development,
85% dialokasikan untuk mendukung pengembangan usaha in line with its expansion strategy and strengthening of its business
Perseroan, sejalan dengan strategi ekspansi dan penguatan portfolio. Meanwhile, approximately 15% of these funds, or a
portofolio bisnis Perseroan. Sementara itu, sekitar 15% dari dana maximum of USD100,000,000, were used to partially repay
tersebut, atau maksimal sebesar USD100.000.000, digunakan obligations under the Facilities Agreement dated 23 June 2021,
untuk pembayaran sebagian kewajiban berdasarkan Facilities between the Company and the Mandated Lead Arrangers and
Agreement tertanggal 23 Juni 2021 antara Perseroan dengan Initial Syndicated Creditors, with PT Bank Mandiri (Persero) Tbk
para Mandated Lead Arrangers dan Kreditur Sindikasi Awal, acting as Facility Agent.
dengan PT Bank Mandiri (Persero) Tbk bertindak sebagai Facility
Agent.
PT Pertamina Geothermal Energy Tbk
Page 234
232 Laporan Tahunan 2025 | 2025 Annual Report PT Pertamina Geothermal Energy Tbk
Page 235
Laporan Tahunan 2025 | 2025 Annual Report 233
(Dalam Rupiah | In Rupiah)
Jenis Penggunaan Dana Rencana 1
Realisasi Sisa Dana
No. %
Type of Fund Use Plan1 Actual Remaining Funds
1 Capital expenditure atau investasi
pengembangan kapasitas tambahan
dari WKP operasional Perseroan saat ini
yang dilakukan melalui pengembangan
konvensional dan utilisasi co-generation
technology untuk memenuhi permintaan
tambahan dari pelanggan existing
Perseroan (55% dari 85% Capex)
3.983.673.567.445 2.598.194.563.127 1.385.479.004.318 65,22%
Capital expenditure or investment in
developing additional capacity in
the Company's current operational
WKP, conducted through conventional
development and utilization of co-
generation technology to meet additional
demand from the Company's existing
customers (55% of 85% of Capex).
2 Capital expenditure atau investasi
pengembangan kapasitas tambahan
dari WKP operasional Perseroan saat ini
yang dilakukan melalui pengembangan
konvensional dan utilisasi co-generation
technology untuk mengantisipasi
kebutuhan pasar baru (33% dari 85%
Capex)
2.390.204.140.467 37.407.045.887 2.352.797.094.580 1,57%
Capital expenditure or investment in
developing additional capacity in
the Company's current operational
WKP, conducted through conventional
development and utilization of co-
generation technology to anticipate new
market needs (33% of 85% of Capex).
3 Capital expenditure atau investasi
pengembangan kemampuan digital,
analitik, dan manajemen reservoir untuk
mendukung production, operation &
maintenance excellence (12% dari 85%
Capex)
869.165.141.988 869.162.649.607 2.492.381 99,99%
Capital expenditure or investment in
developing digital, analytical, and
reservoir management capabilities to
support production, operation, and
maintenance excellence (12% of 85% of
Capex).
4 Pembayaran sebagian Facilities
Agreement tertanggal 23 Juni 2021
antara Perseroan dengan Mandated Lead
Arrangers, Kreditur Sindikasi Awal dan
1.530.100.000.000 1.530.100.000.000 0 100%
PT Bank Mandiri (Persero) Tbk sebagai
Facility Agent
t
TOTAL 8.773.142.849.900 5.034.864.258.621 3.738.278.591.279 57,39%
1
Nilai hasil penawaran umum bersih setelah dikurangi biaya penawaran umum yang telah terkomitmen dan tertuang dalam prospektus
Sebagaimana diungkapkan dalam Prospektus, dana As disclosed in the Prospectus, the proceeds from the Initial Public
hasil Penawaran Umum Perdana Saham (IPO) sebesar Offering (IPO) of Rp8,773,142,849,900 are planned to be fully
Rp8.773.142.849.900 direncanakan untuk digunakan dan utilized and absorbed by 31 December 2025. However, as of
terserap seluruhnya hingga 31 Desember 2025. Namun 31 December 2025, there are still remaining proceeds from
demikian, hingga tanggal 31 Desember 2025 masih terdapat sisa the IPO amounting to Rp3,738,278,291,279. This situation is
dana hasil penawaran umum sebesar Rp3.738.278.291.279. due, among other things, to adjustments in the implementation
Kondisi ini antara lain disebabkan oleh adanya penyesuaian timelines of several of the Company’s key projects.
waktu pelaksanaan pada beberapa proyek utama Perseroan.
PT Pertamina Geothermal Energy Tbk
Page 236
234 Laporan Tahunan 2025 | 2025 Annual Report
Penyesuaian tersebut meliputi belum tercapainya kesepakatan These adjustments include the failure to reach an agreement
harga jual tenaga listrik dengan pembeli pada proyek Bukit on the selling price of electricity with buyers for the Bukit Daun
Daun, Lahendong Unit 7 & 8, serta proyek co-generation; project, Lahendong Units 7 & 8, and the co-generation project;
penyesuaian jadwal pelaksanaan proyek Hululais sehubungan adjustments to the Hululais project implementation schedule related
dengan koordinasi pelaksanaan Engineering, Procurement, to coordination of the Engineering, Procurement, Construction,
Construction, and Commissioning (EPCC) Pembangkit Listrik and Commissioning (EPCC) for the Geothermal Power Plant
Tenaga Panas Bumi (PLTP) di sisi PLN, serta penyesuaian tata (PLTP) by PLN; and adjustments to the development timeline for
waktu pengembangan proyek eksplorasi dan pengembangan exploration projects and additional capacity development in
kapasitas tambahan di sejumlah Wilayah Kerja Panas Bumi. several Geothermal Working Areas (WKP).
Selain itu, Perseroan juga memiliki rencana pengembangan In addition, the Company also has plans for further project
proyek lanjutan dan potensi pengembangan melalui entitas development and potential development through its subsidiaries,
anak, termasuk di WKP Kotamobagu dan WKP Seulawah, including in the Kotamobagu and Seulawah Working Areas, as
serta pengembangan kegiatan usaha baru sejalan dengan well as the development of new business activities in line with
penyesuaian Klasifikasi Baku Lapangan Usaha Indonesia (KBLI) the Company’s adjustments to the Indonesian Standard Industrial
Perseroan. Inisiatif tersebut memerlukan penyesuaian terhadap Classification (KBLI). These initiatives require adjustments to the
horizon waktu investasi agar dapat dilaksanakan secara optimal. investment time horizon for optimal implementation.
Dengan mempertimbangkan hal-hal tersebut, Perseroan Taking these factors into consideration, the Company deems
memandang perlu untuk melakukan penyesuaian jangka waktu it necessary to adjust the IPO. The proposed changes will be
penggunaan dana IPO. Usulan perubahan tersebut akan submitted for approval at the Company’s Annual General
diajukan untuk memperoleh persetujuan dalam Rapat Umum Meeting of Shareholders (AGM) for the 2025 financial year.
Pemegang Saham Tahunan (RUPST) Perseroan tahun buku 2025.
Penyesuaian tersebut tidak berdampak terhadap struktur These adjustments will not impact the Company’s capital structure,
permodalan, kegiatan usaha utama, maupun kelangsungan core business activities, or business continuity. The Company
usaha Perseroan. Perseroan tetap mengedepankan prinsip continues to prioritize prudent principles and the implementation
kehati-hatian serta penerapan tata kelola perusahaan yang baik. of good corporate governance.
PEMBAYARAN DIVIDEN DIVIDEND PAYMENT
Kebijakan Policy
Sesuai Undang-undang Perseroan Terbatas (UUPT) dan Anggaran In accordance with the Limited Liability Company Law (UUPT)
Dasar Perseroan, keputusan mengenai pembagian dividen and the Company’s Articles of Association, decisions regarding
diambil melalui keputusan pemegang saham dalam Rapat Umum dividend distribution are made by shareholder resolution at the
Pemegang Saham (RUPS) tahunan, berdasarkan usulan Direksi. annual General Meeting of Shareholders (GMS), based on a
proposal from the Board of Directors.
Perseroan dapat membagikan dividen jika memiliki saldo laba The Company may distribute dividends if it has positive retained
yang positif. Sebelum tahun buku berakhir, Perseroan dapat earnings. Before the end of the financial year, the Company may
membagikan dividen interim sepanjang tidak mengakibatkan distribute interim dividends as long as they do not result in the
kekayaan bersih Perseroan menjadi kurang dari jumlah modal Company’s net assets becoming less than the amount of issued
ditempatkan dan disetor dan cadangan wajib. and paid-up capital and statutory reserves.
Pembagian dividen interim ditentukan oleh Direksi Perseroan The distribution of interim dividends is determined by the Board of
setelah terlebih dahulu disetujui oleh Dewan Komisaris Perseroan. Directors with prior approval from the Board of Commissioners.
Jika setelah akhir tahun buku yang bersangkutan Perseroan If the Company records a loss at the end of the relevant financial
mengalami kerugian, maka dividen interim yang dibagikan year, shareholders are required to return the interim dividends
harus dikembalikan oleh pemegang saham kepada Perseroan, previously distributed to the Company, and the Board of Directors
dan Direksi dan Dewan Komisaris Perseroan akan bertanggung together with the Board of Commissioners will bear joint and
jawab secara tanggung renteng jika dividen interim tidak several liability in the event such interim dividends are not
dikembalikan. returned.
Pemegang saham Perseroan pada tanggal pencatatan yang The Company’s shareholders as of the applicable record date will
berlaku akan berhak atas sejumlah penuh dividen yang be entitled to the full amount of the approved dividends, subject
disetujui, dan tunduk kepada pemotongan pajak Indonesia yang to applicable Indonesian withholding tax. Dividends received
PT Pertamina Geothermal Energy Tbk
Page 237
Laporan Tahunan 2025 | 2025 Annual Report 235
dikenakan. Dividen yang diterima oleh pemegang saham bukan by non-Indonesian shareholders will be subject to Indonesian
warga negara Indonesia akan dikenakan pemotongan pajak withholding tax of 20%, with reduced rates available depending
Indonesia sebesar 20%, dengan pengurangan tarif tersedia on the relevant tax treaty signed by Indonesia and its treaty
tergantung pada perjanjian pajak terkait yang ditandatangani partner.
oleh Indonesia dan mitra perjanjiannya.
Realisasi Pembayaran Dividen 2025 Dividend Payment Realization
Tahun 2025
Pada tahun 2025 Perseroan melakukan pembayaran dividen In 2025, the Company paid dividends for the 2024 financial
untuk tahun buku 2024 sebesar Rp2,22 triliun atau Rp53,09 year in the amount of Rp2.22 trillion or Rp53.09 per share, paid
per lembar saham, yang dibayarkan secara tunai kepada in cash to shareholders. This dividend payment amounted to 85%
pemegang saham. Pembayaran dividen tersebut mencapai 85% of the Company’s net profit.
dari perolehan laba bersih Perseroan.
Dividen Pembayaran Dividen Tahun 2025 (Dividen Tahun Buku 2024)
Dividend 2025 Dividend Payment (2024 Fiscal Year Dividend)
Laba Bersih
USD160,30 juta (Rp2.589.999.414.000)
Net Incomes
Dividen yang Dibagikan
USD136,40 juta (Rp2.203.814.800.000)
Dividends Distributed
Laba Bersih per Saham
USD0,004 (Rp63,01)
Net Earnings per Share
Dividen per Saham
USD0,003 (Rp53,09)
Dividends per Share
Rasio Pembayaran Dividen
85%
Dividend Pay Out Ratio (DPO)
Pembayaran Dividen pada Tahun 2025
Dividend Payment in 2025
Tanggal Pengumuman
Dividen Tahun Tanggal Tanggal
Tahun Pembayaran Dividend Dividen per Saham Jumlah Dividen
Buku Pencatatan Pembayaran
Payment Year Announcement Dividend per Share Dividend Amount
Fiscal Year Listing Date Payment Date
Date
3 Juni 2025 17 Juni 2025 4 Juli 2025
2025 2024 Rp53,09 Rp2.204.137.940.000
3 June 2025 17 June 2025 4July 2025
Kebijakan Proyeksi Pembayaran Dividen Dividend Payment Projection Policy
Penetapan jumlah pembayaran dividen Perseroan di masa The determination of the Company’s future dividend payments
mendatang akan bergantung pada berbagai faktor, termasuk, will depend on various factors, including, but not limited to:
namun tidak terbatas pada:
a. Laba ditahan, kinerja operasi, arus kas, prospek usaha dan a. Retained earnings, operating performance, cash flow,
kondisi keuangan Perseroan di masa depan. business prospects, and the Company’s future financial
condition.
b. Faktor-faktor lain yang dianggap relevan oleh pemegang b. Other factors deemed relevant by the Company’s
saham Perseroan. shareholders.
Pembayaran dividen dilakukan setelah menyisihkan cukup Dividend distributions are subject to the allocation of adequate
cadangan, dengan tidak mengurangi hak RUPS untuk statutory reserves and the determination of the GMS in
menentukan lain sesuai dengan Anggaran Dasar Perseroan, accordance with the Company’s Articles of Association, while
dan melihat kondisi keuangan Perseroan secara keseluruhan. also considering the Company’s overall financial position.
Meski demikian, secara historis pembayaran dividen PGE selalu Historically, however, PGE has demonstrated a consistent upward
mengalami kenaikan (lihat tabel di bawah). trend in dividend distributions (see table below).
Sepanjang Perseroan memutuskan untuk membagikan dividen, As long as the Company decides to distribute dividends, they
dividen akan dibayarkan dalam Rupiah. Setelah Penawaran will be paid in Rupiah. Following the Initial Public Offering, the
Umum Perdana Saham, Perseroan tidak akan dibatasi oleh Company will not be restricted by any existing loan agreements
PT Pertamina Geothermal Energy Tbk
Page 238
236 Laporan Tahunan 2025 | 2025 Annual Report
perjanjian pinjaman mana pun yang ada sehubungan dengan relating to dividend distribution. The dividend amount for the
pembagian dividen. Besaran dividen untuk tahun buku 2024 2024 financial year will be decided at the Company’s GMS
akan diputuskan pada RUPS Perseroan di tahun 2025. in 2025.
Riwayat Pembayaran Dividen PGE
PGE Dividend Payment History
Sesudah IPO Sebelum IPO
After IPO Before IPO
Uraian
Description 2025 2024 2023
(Dividen Tahun Buku 2024) (Dividen Tahun Buku 2023) (Dividen Tahun Buku 2022)
(Dividend for Fiscal Year 2024) (Dividend for Fiscal Year 2023) (Dividend for Fiscal Year 2022)
Laba Bersih (USD Juta)
160,30 163,57 127,32
Net Profit (USD Million)
Dividen (USD Juta)
136,40 128,40 100
Dividends (USD Million)
Rasio Pembayaran Dividen
85% 78,50% 78,54%
Dividend Pay Out Ratio (DPO)
INFORMASI MENGENAI INVESTASI, INFORMATION ON INVESTMENT,
EKSPANSI, DIVESTASI, AKUISISI, EXPANSION, DIVESTMENT, ACQUISITION,
RESTRUKTURISASI UTANG/MODAL DEBT/CAPITAL RESTRUCTURING
Sepanjang tahun 2025, Perseroan tidak mencatatkan transaksi Throughout 2025, the Company did not record any material
material yang mengandung investasi, ekspansi, divestasi, transactions involving investment, expansion, divestment,
akuisisi, restrukturisasi utang maupun modal. acquisition, debt, or capital restructuring.
INFORMASI TRANSAKSI MATERIAL INFORMATION ON MATERIAL
MENGANDUNG BENTURAN TRANSACTIONS CONTAINING CONFLICTS
KEPENTINGAN DAN/ATAU AFILIASI OF INTEREST AND/OR AFFILIATION
Kebijakan Mekanisme Review atas Policy on Review Mechanisms
Transaksi dan Pemenuhan Peraturan for Transactions and Compliance
serta Ketentuan Terkait with Applicable Regulations and
Requirements
Perseroan memastikan seluruh kegiatan transaksi yang dilakukan, The Company ensures that all transactions undertaken have
telah melalui prosedur yang memadai dan telah sesuai dengan undergone adequate procedures and comply with the arm’s
prinsip transaksi yang wajar (arm’s length principle). dan sesuai length principle and normal commercial terms. The Company has
dengan persyaratan komersial normal. Perseroan memiliki established policies governing material transactions involving
kebijakan terkait transaksi material yang mengandung benturan conflicts of interest and/or transactions with affiliated/related
kepentingan dan/atau transaksi dengan pihak afiliasi/pihak parties. Such transactions are conducted with due prudence in
berelasi. Transaksi material yang mengandung benturan accordance with generally accepted business practices and in
kepentingan dan/atau transaksi dengan pihak afiliasi/pihak compliance with OJK Regulation No. 42/POJK.04/2020 on
berelasi, yang dilakukan Perseroan, senantiasa memperhatikan Affiliated Transactions and Conflict of Interest Transactions, as
prinsip kehati-hatian sesuai dengan praktik bisnis yang well as PSAK No. 7 on Related Party Disclosures.
berlaku umum dan telah memenuhi Peraturan OJK No. 42/
POJK.04/2020 tentang Transaksi Afiliasi dan Transaksi Benturan
Kepentingan, serta PSAK No. 7 tentang Pengungkapan Pihak-
Pihak Berelasi.
Sepanjang tahun 2025, Perseroan tidak memiliki pelanggaran Throughout 2025, the Company reported no violations of
atas peraturan perundang-undangan terkait transaksi material prevailing laws and regulations in relation to material transactions
yang mengandung benturan kepentingan dan/atau transaksi involving conflicts of interest and/or transactions with affiliated
dengan pihak afiliasi. parties.
PT Pertamina Geothermal Energy Tbk
Page 239
Laporan Tahunan 2025 | 2025 Annual Report 237
Komitmen Perseroan atau Manajemen The Company’s and Management’s
atas Transaksi Material yang Commitment to Material Transactions
Mengandung Benturan Kepentingan Involving Conflicts of Interest and/or
dan/atau Transaksi dengan Pihak Transactions with Affiliated/Related
Afiliasi/Pihak Berelasi Parties
Proses melakukan transaksi material yang mengandung benturan In undertaking material transactions involving conflicts of
kepentingan dan/atau transaksi dengan pihak afiliasi, Direksi interest and/or transactions with affiliated parties, the Board
memastikan bahwa seluruh kegiatan transaksi tersebut telah of Directors ensures that all such transactions have undergone
melalui prosedur yang memadai dan sesuai dengan prinsip adequate procedures and comply with the arm’s length principle.
transaksi yang wajar (arm’s length principle). Dewan Komisaris The Board of Commissioners and the Audit Committee have
dan Komite Audit juga telah melakukan review terhadap also conducted reviews to ensure that these transactions are
Perseroan untuk memastikan bahwa transaksi material yang carried out in accordance with generally accepted business
mengandung benturan kepentingan dan/atau transaksi dengan practices, adhere to the arm’s length principle, and comply with
pihak afiliasi, dilaksanakan sesuai dengan praktik bisnis yang applicable regulations. Business activities conducted to generate
berlaku umum dan telah memenuhi prinsip transaksi yang wajar operating revenue and performed on a routine, recurring, and/
(arms-length principle),dan dilaksanakan dengan memenuhi or continuous basis constitute part of the affiliated transactions or
ketentuan yang berlaku. Kegiatan usaha yang dijalankan dalam material transactions undertaken by the Company.
rangka menghasilkan pendapatan usaha dan dijalankan secara
rutin, berulang, dan/atau berkelanjutan merupakan bagian
dari transaksi afiliasi atau transaksi material yang dilakukan
Perseroan.
Kebijakan tentang Pihak Afiliasi/Pihak Policy on Affiliated/Related Parties
Berelasi
Transaksi Perseroan yang tercatat pada tahun 2025 dilakukan Transactions recorded by the Company in 2025 were conducted
wajar (arm’s length) dan sesuai dengan persyaratan komersial on an arm’s length basis and in accordance with normal
normal. Transaksi Perseroan dilakukan atas dasar alasan commercial terms. All transactions were carried out based on
kebutuhan Perseroan dan bebas dari konflik kepentingan. the Company’s business needs and were free from conflicts of
Perseroan melakukan transaksi dengan pihak berelasi seperti interest. The Company engages in transactions with related
yang diatur dalam PSAK No. 7 tentang Pengungkapan Pihak- parties as governed by PSAK No. 7 on Related Party Disclosures
Pihak Berelasi dan Peraturan Bapepam dan LK No. KEP-347/ and Bapepam-LK Regulation No. KEP-347/BL/2012 dated
BL/2012 tanggal 25 Juni 2012 tentang “Penyajian dan June 25, 2012 concerning the “Presentation and Disclosure of
Pengungkapan Laporan Keuangan Emiten atau Perusahaan Financial Statements of Issuers or Public Companies,” which
Publik”, yang didefinisikan antara lain: define, among others:
Pihak-pihak berelasi adalah orang atau entitas yang terkait Related parties are individuals or entities that are related to the
dengan Grup (entitas pelapor): Group (the reporting entity):
1. Orang atau anggota keluarga terdekat mempunyai relasi 1. A person or a close member of that person’s family is related
dengan entitas pelapor jika orang tersebut: to the reporting entity if such person:
a. Memiliki pengendalian atau pengendalian bersama a. Has control or joint control over the reporting entity;
entitas pelapor;
b. Memiliki pengaruh signifikan atas entitas pelapor; atau b. Has significant influence over the reporting entity; or
c. Merupakan personel manajemen kunci entitas pelapor c. Is a member of the key management personnel of the
atau entitas induk dari entitas pelapor. reporting entity or of a parent of the reporting entity.
2. Suatu entitas berelasi dengan entitas pelapor jika memenuhi 2. An entity is related to the reporting entity if any of the following
salah satu hal berikut: conditions applies:
a. Entitas dan entitas pelapor adalah anggota dari a. The entity and the reporting entity are members of the
kelompok usaha yang sama (artinya entitas induk, entitas same group (meaning that each parent, subsidiary, and
anak, dan entitas anak berikutnya terkait dengan entitas fellow subsidiary is related to the others);
lain);
b. Satu entitas adalah entitas asosiasi atau ventura bersama b. One entity is an associate or joint venture of the other
dari entitas lain (atau entitas asosiasi atau ventura bersama entity (or an associate or joint venture of a member of a
yang merupakan anggota suatu kelompok usaha, yang group of which the other entity is a member);
mana entitas lain tersebut adalah anggotanya);
PT Pertamina Geothermal Energy Tbk
Page 240
238 Laporan Tahunan 2025 | 2025 Annual Report
c. Kedua entitas tersebut adalah ventura bersama dari c. Both entities are joint ventures of the same third party;
pihak ketiga yang sama;
d. Satu entitas adalah ventura bersama dari entitas ketiga d. One entity is a joint venture of a third entity, and the other
dan entitas yang lain adalah entitas asosiasi dari entitas entity is an associate of the same third entity;
ketiga;
e. Entitas tersebut adalah suatu program imbalan pascakerja e. The entity is a post-employment benefit plan for the benefit
untuk imbalan kerja dari salah satu entitas pelapor atau of employees of either the reporting entity or an entity
entitas yang terkait dengan entitas pelapor. Jika entitas related to the reporting entity. If the reporting entity is
pelapor adalah entitas yang menyelenggarakan program the entity that administers such a plan, the sponsoring
tersebut, maka entitas sponsor juga berelasi dengan employers are also related to the reporting entity;
entitas pelapor;
f. Entitas yang dikendalikan atau dikendalikan bersama f. The entity is controlled or jointly controlled by a person
oleh orang yang diidentifikasi dalam angka (1); identified in point (1);
g. Orang yang diidentifikasi dalam angka (1) (a) memiliki g. A person identified in point (1)(a) has significant influence
pengaruh signifikan atas entitas atau personil manajemen over the entity or is a member of the key management
kunci entitas (atau entitas induk dari entitas); dan personnel of the entity (or of a parent of the entity); and
h. Entitas, atau anggota dari kelompok yang mana entitas h. The entity, or any member of a group of which it is a
merupakan bagian dari kelompok tersebut, menyediakan part, provides key management personnel services to the
jasa personel manajemen kunci kepada entitas pelapor reporting entity or to the parent of the reporting entity.
atau kepada entitas induk dari entitas pelapor. Transaksi Significant transactions conducted with related parties,
signifikan yang dilakukan dengan pihak-pihak berelasi, whether carried out under the same terms and conditions
baik dilakukan dengan kondisi dan persyaratan yang as those with third parties or otherwise, are disclosed in
sama dengan pihak ketiga maupun tidak, diungkapkan the consolidated financial statements.
pada laporan keuangan konsolidasian.
Nama dan Sifat Hubungan Pihak Name and Nature of Relationships with
Afiliasi/Pihak Berelasi Affiliated/Related Parties
Selama periode pelaporan, Perseroan melakukan transaksi During the reporting period, the Company entered into
dengan pihak-pihak berelasi yakni PT Pertamina (Persero) dan transactions with related parties, namely PT Pertamina (Persero)
entitas anak maupun entitas pengendali dan entitas yang berelasi and its subsidiaries, as well as controlling entities, and entities
dengan pemerintahan. related to the government.
Transaksi meliputi pembiayaan, pembelian bahan bakar, Transactions include financing, fuel purchases, the payment of
pembebanan imbalan kerja pekerja perbantuan, pembebanan employee benefits for second-hand workers, the payment of
biaya bunga dan biaya asuransi, dividen, dan transaksi interest and insurance costs, dividends, and other goods and
penyerahan barang dan jasa lainnya. Selain itu, terdapat pula services. In addition, there were other transactions with associated
transaksi lain dengan pihak asosiasi maupun afiliasi. Transaksi and affiliated parties. Material transactions are conducted to
material dilakukan untuk memenuhi peraturan dan ketentuan comply with the rules and regulations regarding Related Party
terkait Pengungkapan Pihak-pihak Berelasi yang diatur pada Disclosures stipulated in PSAK 7.
PSAK 7.
Alasan dilakukannya transaksi dengan pihak afiliasi dan pihak- The reasons for conducting transactions with affiliated parties
pihak lain yang berelasi antara lain karena Perseroan merupakan and other related parties include the Company’s membership in
bagian dari perusahaan energi terintegrasi yang lebih besar a larger integrated energy industry under the Subholding PNRE
di bawah Subholding Power & New Renewable Energy, dan Pertamina and the Holding PT Pertamina (Persero). Transactions
Holding PT Pertamina (Persero). Transaksi dengan pihak berelasi with related parties occur because the nature of the transactions
terjadi karena sifat transaksi berkaitan dengan operasional relates to the company’s operations.
Perusahaan.
PT Pertamina Geothermal Energy Tbk
Page 241
Laporan Tahunan 2025 | 2025 Annual Report 239
Sifat Hubungan dengan Pihak Berelasi
Nature of Relationship with Related Parties
Hubungan Pihak Berelasi
Relationship Related Party
Pemegang Saham 1. PT Pertamina Power Indonesia
Shareholders 2. PT Pertamina Pedeve Indonesia
Entitas Sepengendali 1. PT Pertamina Hulu Energi dan entitas anak (“PHE”)
Entities under Common Control 2. PT Elnusa Tbk. dan entitas anaknya (“Elnusa”)
3. PT Pertamina Drilling Services Indonesia dan entitas anak (“PDSI”)
4. PT Patra Jasa dan entitas anak
5. PT Asuransi Tugu Pratama Indonesia (“ATPI”)
6. PT Pertamina Bina Medika (“Pertamedika”)
7. PT Pertamina Training & Consulting (“PTC”)
8. PT Pertamina Patra Niaga dan entitas anak
9. PT Pratama Mitra Sejati
10. PT Mitra Tour & Travel
11. PT Prima Armada Raya
Entitas berelasi dengan Pemerintah 1. PT PLN (Persero), dan entitas anak
Government-Related Entities 2. PT Indonesia Power
3. PT Wijaya Karya (Persero) (“Wika”)
4. PT Telekomunikasi Indonesia Tbk (“Telkom”)
5. Direktorat Jenderal Anggaran (“DJA”)
6. Direktorat Jenderal Pajak (“DJP”)
7. Bank BNI
8. Bank Mandiri
9. Bank BRI
10. Bank BTN
11. Bank BSI
Realisasi Transaksi Pihak Berelasi
Realization of Related Party Transactions
(Dalam Ribu USD | in USD Thousand)
Transaksi
Hubungan Pihak Berelasi Transaction
Relationship Related Party
2025 2024 2023
Piutang Usaha
Accounts Receivable
Entitas berelasi dengan Pemerintah
PT Perusahaan Listrik Negara 100.137 92.610 115.305
Government-Related Entities
Entitas berelasi dengan Pemerintah
PT PLN Indonesia Power 22.620 32.017 16.968
Government-Related Entities
Piutang Lain-lain, Jangka Pendek
Other Receivables, Short-Term
Entitas di bawah pengendalian yang sama
PT Pertamina Hulu Energi 1.830 1.994 2.574
Entities under Common Control
Ditjen Anggaran, Kementerian Keuangan
Entitas berelasi dengan Pemerintah
Directorate General of Budget, 2.413 1.016 2.120
Government-Related Entities
Ministry of Finance
Entitas berelasi dengan Pemerintah
PT Perusahaan Listrik Negara 333 345 357
Government-Related Entities
Pemegang Saham
PT Pertamina Power Indonesia 5 659 134
Shareholders
Entitas di bawah pengendalian yang sama
PT Pertamina (Persero) 5 5 5
Entities under Common Control
Lain-lain
465 22 23
Others
Piutang Lain-lain, Jangka Panjang
Other Receivables, Long-Term
PT PLN Indonesia Power Entitas berelasi dengan Pemerintah
6.934 7.529 8.256
Government-Related Entities
Utang Usaha
Accounts Payable
PT Pertamina Patra Niaga Entitas di bawah pengendalian yang sama
642 1.064 3.195
Entities under Common Control
PT Pertamina Geothermal Energy Tbk
Page 242
240 Laporan Tahunan 2025 | 2025 Annual Report
Realisasi Transaksi Pihak Berelasi
Realization of Related Party Transactions
(Dalam Ribu USD | in USD Thousand)
Transaksi
Hubungan Pihak Berelasi Transaction
Relationship Related Party
2025 2024 2023
PT Wijaya Karya Tbk Entitas berelasi dengan Pemerintah
692 659 779
Government-Related Entities
PT Pertamina Drilling Services Indonesia Entitas di bawah pengendalian yang sama
721 18 14
Entities under Common Control
Lain-lain
113 493 555
Others
Utang Lain-lain
Other Payables
PT Pertamina (Persero) Entitas di bawah pengendalian yang sama
6.518 7.296 25.561
Entities under Common Control
PT Pertamina Training & Consulting Entitas di bawah pengendalian yang sama
328 203 22
Entities under Common Control
PT Asuransi Tugu Pratama Indonesia Tbk Entitas di bawah pengendalian yang sama
154 2.385 108
Entities under Common Control
PT Pertamina Power Indonesia Pemegang Saham
- 15 21
Shareholders
PT Pertamina Pedeve Indonesia Pemegang Saham
- 0 0
Shareholders
Lain-lain
275 238 240
Others
Pendapatan Usaha
Operating Revenue
PT Perusahaan Listrik Entitas berelasi dengan Pemerintah
265.982 240.516 313.227
Government-Related Entities
PT PLN Indonesia Power Entitas berelasi dengan Pemerintah
149.438 150.015 73.266
Government-Related Entities
Informasi Mengenai Transaksi Pihak Information on Affiliated Party
Afiliasi Transactions
Pelaksanaan transaksi dengan pihak afiliasi yang dilakukan The implementation of transactions with affiliated parties by
Perseroan telah sesuai dengan ketentuan yang tertuang dalam the Company has complied with the provisions set out in OJK
POJK No. 42/POJK.04/2020. Kegiatan transaksi afiliasi Regulation No. 42/POJK.04/2020. The Company’s affiliated
Perseroan pada tahun 2025 adalah sebagai berikut: transactions in 2025 are as follows:
Transaksi Afiliasi dan Benturan Kepentingan berdasarkan POJK No. 42/POJK.04/2020
Affiliated Transactions and Conflicts of Interest Based on OJK Regulation No. 42/POJK.04/2020
Jenis Transaksi Afiliasi
Tanggal Pihak yang Bertransaksi Sifat Hubungan Afiliasi Nilai Transaksi
Type of Affiliated
Date TransactionParties Nature of Affiliation Transaction Value
Transaction
24 Juni 2025 Pengadaan Kontrak a. Perseroan Perseroan dan PDSI merupakan Rp 24.317.076.400
Pekerjaan Mud Logging Unit b. PT Pertamina Drilling anak perusahaan yang
antara Perseroan dengan Services Indonesia (PDSI) dikendalikan secara tidak
PT Pertamina Drilling langsung oleh PT Pertamina
Services Indonesia (Persero)
24 June 2025 Procurement of a Mud a. The Company Perseroan dan PDSI merupakan
Logging Unit Work Contract b. PT Pertamina Drilling The Company and PDSI are
between the Company Services Indonesia (PDSI) subsidiaries indirectly controlled
and PT Pertamina Drilling by PT Pertamina (Persero).
Services Indonesia
PT Pertamina Geothermal Energy Tbk
Page 243
Laporan Tahunan 2025 | 2025 Annual Report 241
Penjelasan Mengenai Kewajaran Explanation Regarding Fairness of
Transaksi Transactions
Secara berkala, Perseroan melakukan audit atas transaksi The Company periodically audits transactions that occurred during
yang berlangsung pada kurun waktu periode pelaporan. the reporting period. The Company ensures that the transactions
Perseroan memastikan transaksi yang terjadi bersifat wajar dan are fair and executed through transparent mechanisms and in
dilaksanakan melalui mekanisme yang transparan serta sesuai accordance with laws and regulations. As of the end of 2025,
dengan peraturan perundang-undangan. Hingga akhir tahun the Company has not received any sanctions related to alleged
2025, Perseroan tidak pernah mendapatkan sanksi terkait irregularities in transactions or allegations of conflicts of interest.
dugaan ketidakwajaran atas transaksi yang terjadi maupun
dugaan adanya benturan kepentingan.
Informasi Mengenai Transaksi Material Information on Material Transactions
Transaksi material yang dilakukan oleh Perseroan telah Material transactions undertaken by the Company have
sesuai dengan ketentuan yang tertuang dalam POJK No. 17/ complied with the provisions set out in OJK Regulation No. 17/
POJK.04/2020. Sepanjang tahun 2025, Perseroan tidak POJK.04/2020. Throughout 2025, the Company did not engage
memiliki transaksi yang bersifat material. in any material transactions.
Informasi Pemenuhan Peraturan Regulatory Compliance Information
Perseroan senantiasa memastikan bahwa seluruh transaksi The Company consistently ensures that all transactions with
dengan pihak berelasi/terafiliasi yang dilakukan telah memenuhi related/affiliated parties comply with applicable laws and
peraturan perundang-undangan yang berlaku. Dengan demikian, regulations. Therefore, there are no violations of laws and
tidak terdapat pelanggaran terhadap peraturan perundang- regulations in their implementation. Furthermore, there are no
undangan dalam pelaksanaannya. Selain itu, tidak terdapat transactions containing conflicts of interest.
transaksi yang mengandung benturan kepentingan.
Regulasi-regulasi tersebut, antara lain mencakup: These regulations include:
1. Undang-Undang Republik Indonesia No. 8 tahun 1995 1. Law of the Republic of Indonesia No. 8 of 1995 concerning
tentang Pasar Modal Capital Markets
2. Peraturan Otoritas Jasa Keuangan Republik Indonesia 2. Regulation of the Financial Services Authority of the Republic
No. 9/POJK.04/2018 tentang Pengambilalihan Perusahaan of Indonesia No. 9/POJK.04/2018 concerning Takeovers of
Terbuka Public Companies
3. POJK 42/2020 tentang Transaksi Afiliasi dan Transaksi 3. POJK 42/2020 concerning Affiliated Party Transactions and
Benturan Kepentingan Conflict of Interest Transactions
4. Anggaran Dasar Perseroan 4. Company Articles of Association
Pernyataan Direksi bahwa Transaksi Statement of the Board of Directors that
telah Memenuhi Prosedur Memadai the Transactions Have Met Adequate
dan Sesuai Praktik Bisnis yang Berlaku Procedures and Are in Accordance with
Umum Generally Accepted Business Practices
Direksi telah melakukan peninjauan terhadap seluruh transaksi The Board of Directors has reviewed all of the Company’s
Perseroan, termasuk yang berkaitan pihak berelasi/terafiliasi. transactions, including those involving related parties. The Board
Direksi memastikan bahwa transaksi yang dilakukan telah of Directors ensures that the transactions have met adequate
memenuhi prosedur memadai serta sesuai dengan praktik procedures and are in accordance with generally accepted
bisnis yang berlaku umum. Seluruh transaksi pada tahun 2025 business practices. All transactions in 2025 will be conducted in
dilakukan dengan memperhatikan praktik bisnis yang berlaku accordance with generally accepted business practices and the
umum dan prinsip arm’s length (prinsip transaksi yang wajar). arm’s length principle.
Transaksi tersebut antara lain sejalan dengan POJK 42/2020 These transactions, among other things, are in line with POJK
yang menyatakan bahwa perusahaan publik yang melakukan 42/2020, which states that public companies engaging in
transaksi afiliasi wajib memiliki prosedur yang memadai untuk affiliated party transactions are required to have adequate
memastikan transaksi afiliasi dilakukan sesuai dengan praktik procedures to ensure that affiliated party transactions are
bisnis yang berlaku umum. conducted in accordance with generally accepted business
practices.
PT Pertamina Geothermal Energy Tbk
Page 244
242 Laporan Tahunan 2025 | 2025 Annual Report Peran Dewan Komisaris dan Komite The Role of the Board of Commissioners Audit untuk Memastikan Transaksi and the Audit Committee in Ensuring Dilakukan sesuai Praktik Bisnis yang Transactions Are Conducted in Berlaku Umum, yang Antara Lain Accordance with Generally Accepted Dilakukan dengan Memenuhi Prinsip Business Practices, Which Among Other Transaksi yang Wajar (Arm’s-Length Things Are Conducted in Compliance Principle) with the Arm’s-Length Principle. Dewan Komisaris dan Komite Audit memastikan bahwa transaksi The Board of Commissioners and the Audit Committee ensure Perseroan dengan pihak berelasi/terafiliasi sepanjang tahun that the Company’s transactions with related/affiliated parties 2025 telah melalui prosedur yang memadai. Selain itu, transaksi throughout 2025 have followed adequate procedures. dilakukan sesuai dengan praktik bisnis yang berlaku umum, Furthermore, the transactions were conducted in accordance with khususnya memenuhi prinsip transaksi yang wajar (arm’s length generally accepted business practices, specifically in compliance principle). with the arm’s-length principle. Informasi mengenai transaksi afiliasi atau transaksi material yang Information regarding affiliated or material transactions conducted dilakukan Perseroan pada tahun buku juga diungkapkan dalam by the Company during the fiscal year is also disclosed in the laporan keuangan tahunan. annual financial statements. Halaman Rujukan dalam Laporan Reference Pages in the Financial Keuangan Statements Informasi terkait dengan transaksi dengan pihak berelasi/ More detailed information regarding transactions with related/ terafiliasi yang lebih rinci termuat dalam Laporan Keuangan affiliated parties is contained in the audited Financial Statements yang telah diaudit dan terdapat dalam Laporan Tahunan ini, and is included in this Annual Report, specifically in the appendix yaitu pada bagian lampiran 5/81 No. 26. 5/81 No. 26. PERUBAHAN PERATURAN PERUNDANG- CHANGES IN LEGISLATION UNDANGAN Sepanjang tahun 2025 tidak terdapat perubahan peraturan Throughout 2025, there were no changes in legislation that had perundang-undangan yang memiliki dampak signifikan terhadap a significant impact on the Company. Perseroan. PERUBAHAN KEBIJAKAN AKUNTANSI CHANGES IN ACCOUNTING POLICIES Pada tahun 2025 tidak terdapat perubahan kebijakan akuntansi In 2025, there were no new accounting policies applied to the baru yang diterapkan pada Laporan Keuangan Perseroan. Company’s Financial Statements. PT Pertamina Geothermal Energy Tbk
Page 245
Laporan Tahunan 2025 | 2025 Annual Report 243
PENINJAUAN KELANGSUNGAN USAHA REVIEW OF BUSINESS CONTINUITY AND
DAN STRATEGI KEBERLANGSUNGAN BUSINESS CONTINUITY STRATEGY
USAHA
Perseroan secara berkelanjutan melakukan evaluasi atas The Company continuously evaluates its business continuity
kelangsungan usaha melalui berbagai pendekatan strategis, through various strategic approaches, including Strengths,
antara lain analisis Strengths, Weaknesses, Opportunities, Weaknesses, Opportunities, and Threats (SWOT) analysis,
and Threats (SWOT), Strategic Position and Action Evaluation Strategic Position and Action Evaluation (SPACE), and the
(SPACE), serta penerapan Sistem Manajemen Kelangsungan implementation of a Business Continuity Management System
Bisnis (SMKB) dalam menghadapi potensi disrupsi terhadap (BCMS) to address potential disruptions to business processes.
proses bisnis.
Hingga tahun 2025, tidak terdapat indikasi ketidakpastian As of 2025, there are no indications of material uncertainties that
material yang dapat menimbulkan keraguan signifikan terhadap could cast significant doubt on the Company’s ability to maintain
kemampuan Perseroan dalam mempertahankan kelangsungan its business continuity.
usahanya.
Meskipun demikian, Perseroan tetap mencermati berbagai risiko Nevertheless, the Company continues to monitor various risks that
yang berpotensi memengaruhi pencapaian kinerja, antara lain could potentially affect its performance, including the following:
sebagai berikut:
1. Risiko penurunan nilai (impairment) atas proyek maupun 1. Risk of impairment of projects and/or working areas
area kerja
2. Risiko tidak tercapainya pasokan uap untuk mendukung 2. Risk of failure to meet steam supply to support ongoing
kelangsungan bisnis eksisting business operations
3. Risiko terjadinya unscheduled shutdown dan penurunan 3. Risk of unscheduled shutdowns and reduced generation
kapasitas pembangkitan (derating) pada PLTP capacity (derating) at geothermal power plants (PLTP)
4. Risiko bencana alam (climate risk) yang dapat memengaruhi 4. Risk of natural disasters (climate risk) that may affect the
operasional Perseroan Company’s operations
5. Risiko tidak tercapainya target HSSE Excellence 5. Risk of failure to achieve HSSE Excellence targets
6. Risiko tidak tercapainya target proyek pengembangan 6. Risk of failure to meet development project targets
7. Risiko kegagalan dalam kegiatan eksplorasi 7. Risk of failure in exploration activities
8. Risiko penurunan citra perusahaan (corporate image) 8. Risk of deterioration in corporate image
9. Risiko timbulnya tuntutan hukum 9. Risk of legal claims or litigation
10. Risiko kerugian akibat fluktuasi nilai tukar 10. Risk of losses due to foreign exchange fluctuations
11. Risiko serangan siber (cyber attack) terhadap jaringan dan 11. Risk of cyberattacks on the Company’s network and
sistem aplikasi Perseroan application systems
12. Risiko penurunan nilai Perseroan sebagai emiten di pasar 12 Risk of decline in the Company’s value as a listed entity in the
modal pasca Initial Public Offering (IPO) capital market following the Initial Public Offering (IPO)
PT Pertamina Geothermal Energy Tbk
Page 246
244 Laporan Tahunan 2025 | 2025 Annual Report PT Pertamina Geothermal Energy Tbk
Page 247
Laporan Tahunan 2025 | 2025 Annual Report 245
06
Tata Kelola
Perusahaan
Corporate Governance
PT Pertamina Geothermal Energy Tbk
Page 248
246 Laporan Tahunan 2025 | 2025 Annual Report
Tata Kelola Perusahaan
Corporate Governance
PENERAPAN TATA KELOLA PERUSAHAAN IMPLEMENTATION OF GOOD CORPORATE
YANG BAIK GOVERNANCE
Komitmen Pelaksanaan GCG pada lingkungan Perseroan selama The commitment to implementing GCG within the Company
tahun 2025 tercermin pada pencapaian sebagai berikut: during 2025 is reflected in the following achievements:
100%
Penyampaian Laporan GCG pada
Portal GCG Online oleh seluruh
105,8%
Pekerja, meliputi:
100%
• Pelaporan Code of Conduct
• Pelaporan Conflict of Interest Patuh
• Pelaporan Gratifikasi Comply
Submission of GCG Reports on the Penilaian Internal Implemetasi
Online GCG Portal by all Employees, Pelaporan Laporan Harta Kepatuhan GCG
including: Kekayaan Penyelenggara
• Code of Conduct reporting Negara (LHKPN) Internal Assessment of GCG
• Conflict of Interests reporting
• Gratuity reporting Compliance Implementation
LHKPN Reporting
Hasil Penilaian GCG Berdasarkan:
GCG Assessment Results based on:
Parameter BUMN Peraturan Otoritas ACGS - ASEAN Corporate Pedoman Umum Governansi
SOEs Parameters
Jasa Keuangan (OJK) Governance Scorecard Korporat Indonesia (PUGKI)
Financial Services Authority Indonesia Corporate Governance
Regulation Manual (PUGKI)
93,85 /100
TERPENUHI 122,52 /130 TERPENUHI
Leadership in Corporate
SANGAT BAIK |EXCELLENT COMPLIED Governance
COMPLIED
7,1
Negligible Risk
Peringkat ESG dari Sustainalytics
ESG Rating from Sustainalytics
Penerapan tata kelola perusahaan yang baik (Good Corporate The implementation of good corporate governance (GCG) serves
Governance/GCG) menjadi fondasi utama PT Pertamina as the cornerstone of PT Pertamina Geothermal Energy Tbk (PGE)
Geothermal Energy Tbk (PGE) dalam menjalankan kegiatan in conducting its operations sustainably. The Company believes
operasional secara berkelanjutan. Perseroan meyakini bahwa that the adoption of high-quality GCG practices will drive positive
PT Pertamina Geothermal Energy Tbk
Page 249
Laporan Tahunan 2025 | 2025 Annual Report 247
implementasi GCG yang berkualitas akan mendorong kinerja performance, strengthen shareholder confidence, and enhance
yang positif, memperkuat kepercayaan pemegang saham, serta value for all stakeholders.
meningkatkan nilai tambah bagi seluruh pemangku kepentingan.
Penerapan GCG di Perseroan dilaksanakan secara konsisten The Company implements GCG consistently through a structured
melalui proses pengambilan keputusan dan penetapan kebijakan decision-making and policy-setting process that is transparent,
yang terstruktur, transparan, akuntabel, berbasis risiko, serta accountable, risk-based, and fully compliant with applicable laws
sesuai dengan ketentuan peraturan perundang-undangan yang and regulations.
berlaku.
Sepanjang tahun 2025, Perseroan menunjukkan komitmen yang Throughout 2025, the Company demonstrated a strong
kuat terhadap penerapan prinsip-prinsip GCG, yang tercermin commitment to the principles of good corporate governance, as
antara lain melalui capaian sebagai berikut: evidenced by the following achievements:
• 100% penyampaian pernyataan komitmen kepatuhan • Achieved 100% submission of statements of commitment to
terhadap Kode Etik. comply with the Code of Ethics.
• 100% penyampaian pernyataan komitmen atas Kebijakan • Achieved 100% submission of statements of commitment to
Benturan Kepentingan. the Conflict of Interest Policy.
• 100% pelaporan gratifikasi. • Achieved 100% reporting of gratuities.
• 100% penyampaian Laporan Harta Kekayaan Penyelenggara • Achieved 100% submission of State Officials’ Asset Reports
Negara (LHKPN). (LHKPN).
• Pencapaian skor 93,85 (maksimal 100,00) pada parameter • Attained a score of 93.85 out of 100 on the SOE assessment
penilaian BUMN dengan predikat “Sangat Baik”. parameters, earning a “Very Good” rating.
• Kepatuhan penuh terhadap prinsip dan ketentuan yang • Fully complied with the principles and regulations established
ditetapkan oleh Otoritas Jasa Keuangan (OJK). by the Financial Services Authority (OJK).
• Pencapaian skor 122,52 (dari maksimal 130,00) pada • Attained a score of 122.52 out of 130 on the ASEAN
penilaian ASEAN Corporate Governance Scorecard (ACGS) Corporate Governance Scorecard (ACGS), earning the
dengan predikat Leadership in Corporate Governance. “Leadership in Corporate Governance” designation.
• Kepatuhan terhadap Pedoman Umum Governansi Korporat • Complied with the Indonesian General Corporate Governance
Indonesia (PUG-KI). Guidelines (PUG-KI).
PT Pertamina Geothermal Energy Tbk
Page 250
248 Laporan Tahunan 2025 | 2025 Annual Report
Prinsip-Prinsip Tata Kelola Perusahaan Principles of Good Corporate
yang Baik Governance
Prinsip penerapan tata kelola perusahaan yang baik atau Good The general principles of good corporate governance (GCG)
Corporate Governance (GCG) secara umum adalah transparansi, implementation are transparency, accountability, responsibility,
akuntabilitas, responsibilitas, independensi dan kewajaran. independence, and fairness.
PGE juga menerapkan prinsip-prinsip GCG sesuai dengan PGE also implements GCG principles in accordance with the
Peraturan Menteri Badan Usaha Milik Negara (BUMN) tentang Regulation of the Minister of State-Owned Enterprises (SOEs)
Pedoman Tata Kelola dan Kegiatan Korporasi Signifikan concerning Guidelines for Governance and Significant Corporate
BUMN (saat ini telah bertransformasi menjadi Badan Pengatur Activities of SOEs (now transformed into the SOE Regulatory
BUMN), Peraturan Otoritas Jasa Keuangan (OJK) yang mengatur Agency), the Financial Services Authority (OJK) Regulation
tata kelola perusahaan publik di Indonesia, Pedoman Umum governing public company governance in Indonesia, the 2021
Governansi Korporat Indonesia (PUGKI) 2021 yang diterbitkan General Guidelines for Indonesian Corporate Governance
oleh Komite Nasional Kebijakan Governansi (KNKG), dan (PUGKI) issued by the National Committee for Governance Policy
Instrumen penilaian berupa ASEAN Corporate Governance (KNKG), and the ASEAN Corporate Governance Scorecard
Scorecard (ACGS) yang ditetapkan oleh ASEAN Capital (ACGS) assessment instrument established by the ASEAN Capital
Market Forum (ACMF) untuk mengukur tingkat kepatuhan/GCG Market Forum (ACMF) to measure the level of compliance/GCG
perusahaan publik di kawasan ASEAN. of public companies in the ASEAN region.
Prinsip GCG GCG principles
Prinsip GCG Implementasi
GCG principles Implementation
Transparansi | Transparency
Keterbukaan dalam melaksanakan proses pengambilan keputusan dan Peseroan memastikan keterbukaan informasi telah dilakukan antara lain:
keterbukaan dalam mengungkapkan inform asimaterial dan relevan pengungkapan kinerja Perseroan melalui Laporan Tahunan, Sustainability
mengenai perusahaan. Report, dan pengungkapan Tanggung Jawab Sosial dan Lingkungan (TJSL)
Perusahaan melalui Laporan TJSL serta pengungkapan informasi lainnya
yang material bagi stakeholder.
Transparency in implementing the decision-making process and The Company ensures that information disclosure has been carried out,
transparency in disclosing immaterial and relevant information about the including disclosure of the Company's performance through the Annual
Company. Report and Sustainability Report and disclosure of the Company's Social
and Environmental Responsibility (TJSL) through the TJSL Report, as well as
disclosure of other information material to stakeholders.
Akuntabilitas | Accountability
Kejelasan fungsi, pelaksanaan dan pertanggungjawaban Organ Perseroan menetapkan tugas dan tangggungjawab masing-masing fungsi
Perusahaan sehingga pengelolaan perusahaan terlaksana secara efektif. sesuai dengan ukuran dan kompleksitas kegiatan operasional/bisnis
Perseroan.
Clarity of function, implementation, and accountability of company Organs, The Company determines the duties and responsibilities of each function
allowing the company management to be carried out effectively. according to the size and complexity of the Company's operational/
business activities.
Tanggung Jawab | Responsibility
Kesesuaian di dalam pengelolaan perusahaan terhadap ketentuan Perseroan melaksanakan kegiatan usaha dengan mengacu pada peraturan
peraturan perundang-undangan dan prinsip korporasi yang sehat dan undang-undang yang berlaku termasuk pedoman internal Perseroan.
Compliance in company management with statutory provisions and healthy The Company carries out business activities with reference to applicable
corporate principles regulations and laws, including the Company's internal guidelines.
Independensi | Independence
Keadaan di mana perusahaan dikelola secara profesional tanpa Benturan Perseroan mewajibkan seluruh insan/individu untuk menandatangani
Kepentingan dan pengaruh/tekanan dari pihak manapun yang tidak Code of Conduct dan mengungkapkan Benturan Kepentingan, serta
sesuai dengan ketentuan peraturan perundang undangan dan prinsip Gratifikasi secara berkala. Sosialisasi kebijakan terkait anti korupsi dan
korporasi yang sehat. anti gratifikasi diberikan kepada seluruh pekerja sehingga pekerja dapat
membuat keputusan yang tepat dan berintegritas di berbagai situasi
profesional. Direksi dan Dewan Komisaris Perseroan menandatangani
pernyataan independensi.
A situation where the company is managed professionally without conflict The Company requires all individuals to sign a Code of Conduct and
of interest and influence/pressure from any party that is not in accordance regularly disclose Conflicts of Interest and Gratifications. Socialization of
with the statutory provisions and healthy corporate principles. anti-corruption and anti-gratification policies is provided to all employees,
enabling them to make informed decisions with integrity in various
professional situations. The Company's Board of Directors and Board of
Commissioners sign a statement of independence.
PT Pertamina Geothermal Energy Tbk
Page 251
Laporan Tahunan 2025 | 2025 Annual Report 249
Prinsip GCG Implementasi
GCG principles Implementation
Kewajaran | Fairness
Keadilan dan kesetaraan di dalam memenuhi hak pemangku kepentingan Perseroan memberikan kesempatan kepada seluruh stakeholders untuk
yang timbul berdasarkan perjanjian dan ketentuan peraturan perundang- memberikan masukan dan menyampaikan pendapat bagi kepentingan
undangan. Perseroan sesuai dengan prinsip keterbukaan dan melalui mekanisme yang
berlaku.
Justice and equality in fulfilling stakeholder rights arising from agreements The Company provides an opportunity for all stakeholders to provide input
and statutory provisions. and express opinions for the interests of the Company in accordance with
the principle of transparency and through applicable mechanisms.
Pilar Governansi Korporat Corporate Governance Pillars
Pilar Implementasi
Pillars Implementation
Perilaku Beretika | Ethical Behavior
Dalam melaksanakan kegiatannya, korporasi senantiasa mengedepankan Perseroan memastikan standar etika dengan stakeholder yang
kejujuran, memperlakukan semua pihak dengan hormat (respect), mencerminkan core values AKHLAK dan prinsip GCG (Transparency,
memenuhi komitmen, membangun serta menjaga nilai-nilai moral dan Accountability, Responsibility, Independence, Fairness), yaitu etika dengan
kepercayaan secara konsisten. Korporasi memperhatikan kepentingan pemegang saham, Pekerja, Serikat Pekerja, Anak Perusahaan, TAD
pemegang saham dan pemangku kepentingan lainnya berdasarkan asas (Tenaga Alih Daya), Pelanggan, Pesaing, Penyedia Barang/Jasa, Mitra
kewajaran dan kesetaraan (fairness) dan dikelola secara independen Usaha Bersama, Kreditur, Regulator, Masyarakat, Media Massa, dan
sehingga masing-masing organ korporasi tidak saling mendominasi dan Organisasi Profesi.
tidak dapat diintervensi oleh pihak lain.
In carrying out its activities, the corporation always prioritizes honesty, The Company ensures ethical standards with stakeholders that reflect
treats all parties with respect, fulfills commitments, and consistently builds the core values of AKHLAK and the principles of GCG (Transparency,
and maintains moral values and trust. The corporation considers the Accountability, Responsibility, Independence, Fairness), namely ethics
interests of shareholders and other stakeholders based on the principles of with shareholders, workers, labor unions, subsidiaries, TAD (Outsourced
fairness and equality and is managed independently, ensuring that each Workers), customers, competitors, providers of goods/services, joint venture
corporate organ does not dominate the other and cannot be intervened by partners, creditors, regulators, the public, mass media, and professional
other parties. organizations.
Transparansi | Transparency
Untuk menjaga objektivitas dalam menjalankan bisnis, korporasi Perseroan menjamin akurasi material menyangkut kinerja, keadaan
menyediakan informasi yang material dan relevan dengan cara yang keuangan, serta kepemilikan saham Perseroan dan informasi lainnya
mudah diakses dan dipahami oleh pemangku kepentingan. Korporasi yang penting serta pengungkapannya kepada seluruh pihak yang
mengambil inisiatif untuk mengungkapkan tidak hanya masalah yang berkepentingan. Prinsip keterbukaan ini tidak mengurangi kewajiban untuk
disyaratkan oleh peraturan perundang-undangan, tetapi juga hal yang melindungi informasi rahasia mengenai Perseroan, Konsumen dan Mitra
penting untuk pengambilan keputusan oleh pemegang saham, kreditur dan Kerja sesuai dengan ketentuan perundang-undangan yang berlaku dan
pemangku kepentingan lainnya. praktik-praktik GCG
To maintain objectivity in conducting business, corporations provide The Company guarantees material accuracy regarding the Company’s
material and relevant information in a manner that is easily accessible and performance, financial condition, share ownership, and other important
understandable to stakeholders. Corporations take the initiative to disclose information, as well as its disclosure to all interested parties. This principle
not only matters required by law but also matters that are important for of transparency does not reduce the obligation to protect confidential
decision-making by shareholders, creditors, and other stakeholders. information regarding the Company, Consumers, and Business Partners in
accordance with applicable laws and GCG practices.
Akuntabilitas | Accountability
Korporasi dapat mempertanggungjawabkan kinerjanya secara transparan Perseroan memastikan akuntabilitas kinerja melalui perencanaan, eksekusi,
dan wajar. Untuk itu korporasi harus dikelola secara benar, terukur dan pengawasan, dan penyajian laporan yang transparan dan akuntabel sesuai
sesuai dengan kepentingan korporat dengan tetap memperhitungkan dengan target yang disepakati dan selaras dengan visi misi perusahaan.
kepentingan pemegang saham dan pemangku kepentingan. Akuntabilitas
merupakan prasyarat yang diperlukan untuk mencapai kinerja yang
berkelanjutan.
Corporations can be held accountable for their performance in a The Company ensures performance accountability through transparent and
transparent and fair manner. Therefore, corporations must be managed accountable planning, execution, supervision, and presentation of reports
properly, measurably, and in accordance with corporate interests, while still in accordance with agreed targets and in line with the Company’s vision
considering the interests of shareholders and stakeholders. Accountability is and mission.
a necessary prerequisite for achieving sustainable performance.
PT Pertamina Geothermal Energy Tbk
Page 252
250 Laporan Tahunan 2025 | 2025 Annual Report
Pilar Implementasi
Pillars Implementation
Keberlanjutan | Sustainability
Korporasi mematuhi peraturan perundang-undangan serta berkomitmen Perseroan menjamin adanya konsistensi, keselarasan dan harmonisasi
melaksanakan tanggung jawab terhadap masyarakat dan lingkungan antara peraturan perundang-undangan dengan kebutuhan operasional
agar berkontribusi pada pembangunan berkelanjutan melalui kerja dan proses bisnis perusahaan, sehingga penerapan regulasi dapat
sama dengan semua pemangku kepentingan terkait untuk meningkatkan berlangsung secara efektif implementasi penerapan peraturan perundang
kehidupan mereka dengan cara yang selaras dengan kepentingan bisnis undangan yang berkelanjutan dengan menerapkan Tata Kerja Organisasi
dan agenda pembangunan berkelanjutan. Pelaksanaan Identifikasi dan Evaluasi Penataan Peraturan Perundang-
Undangan.
The corporation complies with laws and regulations and is committed to The Company guarantees consistency, alignment, and harmonization
carrying out its responsibilities towards society and the environment and between laws and regulations and the Company’s operational needs and
contributing to sustainable development by collaborating with all relevant business processes, allowing for effective regulation implementation as
stakeholders to improve their lives in a manner that aligns with business well as the implementation of sustainable laws and regulations through the
interests and the sustainable development agenda. implementation of the Organizational Work Procedures for the Identification
and Evaluation of the Arrangement of Laws and Regulations.
Dasar Hukum Penerapan Legal Basis for Implementation
Penerapan tata kelola Perseroan mengacu pada Undang The implementation of corporate governance refers to the Law,
Undang, Peraturan Menteri BUMN (saat ini telah bertransformasi Regulations of the Minister of SOE (now transformed into the State-
menjadi Badan Pengaturan BUMN), Peraturan Otoritas Jasa Owned Enterprises Regulatory Agency), the Financial Services
Keuangan (OJK), Pedoman Umum Governansi Korporat Indonesia Authority (OJK) Regulation, General Guidelines for Indonesian
(PUG-KI), dan ASEAN Corporate Governance Scorecard Corporate Governance (PUGKI), and the ASEAN Corporate
(ACGS). Beberapa ketentuan yang menjadi acuan antara lain: Governance Scorecard (ACGS). Some of the provisions used as
references include:
Undang Undang Republik Indonesia dan Peraturan Menteri Laws of the Republic of Indonesia and Regulations of the Minister
BUMN of SOE
• Undang-Undang RI No. 16 Tahun 2025 tentang Perubahan • Law of the Republic of Indonesia No. 16 of 2025 concerning
Keempat Atas Undang-Undang No.19 Tahun 2003 tentang the Fourth Amendment to Law No. 19 of 2003 concerning
Badan Usaha Milik Negara State-Owned Enterprises
• Undang-Undang No. 40 Tahun 2007 tentang Perseroan • Law No. 40 of 2007 concerning Limited Liability Companies
Terbatas beserta perubahannya and its Amendments
• Peraturan Menteri BUMN No. PER-2/MBU/03/2023 tentang • Regulation of the Minister of SOE No. PER-2/MBU/03/2023
Pedoman Tata Kelola dan Kegiatan Korporasi Signifikan concerning Guidelines for Governance and Significant
Badan Usaha Milik Negara Corporate Activities of State-Owned Enterprises
• Peraturan Menteri BUMN No.PER-3/MBU/03/2023 tentang • Regulation of the Minister of SOE No. PER-3/MBU/03/2023
Organ Dan Sumber Daya Manusia Badan Usaha Milik concerning Organs and Human Resources of State-Owned
Negara Enterprises
Peraturan Otoritas Jasa Keuangan Financial Services Authority Regulations
• Peraturan Otoritas Jasa Keuangan No. 33/POJK.04/2014 • Financial Services Authority Regulation
tentang Direksi dan Dewan Komisaris Emiten atau Perusahaan No. 33/POJK.04/2014 concerning the Board of Directors
Publik and Board of Commissioners of Issuers or Public Companies
• Peraturan OJK No. 21/POJK.04/2015 tentang Penerapan • Financial Services Authority Regulation
Pedoman Tata Kelola Perusahaan Terbuka juncto Surat No. 21/POJK.04/2015 concerning the Implementation of
Edaran OJK No. 32/SEOJK.04/2015 tentang Pedoman Public Company Governance Guidelines in conjunction with
Tata Kelola Perusahaan Terbuka OJK Circular Letter No. 32/SEOJK.04/2015 concerning
Public Company Governance Guidelines
• Peraturan Otoritas Jasa Keuangan No. 31/POJK.04/2015 • Financial Services Authority Regulation
tentang Keterbukaan Atas Informasi Atau Fakta Material No. 31/POJK.04/2015 concerning Disclosure of Material
Oleh Emiten Atau Perusahaan Publik Information or Facts by Issuers or Public Companies
• Peraturan Otoritas Jasa Keuangan No. 29/POJK.04/2016 • Financial Services Authority Regulation
tentang Kewajiban Penyampaian Laporan Tahunan bagi No. 29/POJK.04/2016 concerning the Obligation to Submit
Emiten dan Perusahaan Publik Annual Reports for Issuers and Public Companies
• Peraturan Otoritas Jasa Keuangan No. 15/POJK.04/2020 • Financial Services Authority Regulation
tentang Rencana dan Penyelenggaraan Rapat Umum No. 15/POJK.04/2020 dated April 20, 2020, concerning
Pemegang Saham Perusahaan Terbuka the Planning and Implementation of General Meetings of
Shareholders of Public Companies
PT Pertamina Geothermal Energy Tbk
Page 253
Laporan Tahunan 2025 | 2025 Annual Report 251
• Peraturan Otoritas Jasa Keuangan No. 42/POJK.04/2020 • Financial Services Authority Regulation
tanggal 01 Juli 2020 tentang Transaksi Afiliasi dan Transaksi No. 42/POJK.04/2020 dated July 1, 2020, concerning
Benturan Kepentingan Affiliated Transactions and Conflict of Interest Transactions
• Peraturan OJK No. 17/POJK.04/2020 tentang Transaksi • Financial Services Authority Regulation
Material dan Perubahan Kegiatan Usaha No. 17/POJK.04/2020 concerning Material Transactions
and Changes in Business Activities
Kebijakan Internal Internal Policies
Pelaksanaan tata Kelola PGE juga didukung dengan kebijakan The implementation of PGE’s corporate governance is also
dan pedoman internal yang disusun berdasarkan peraturan supported by internal policies and guidelines developed based
perundangan dan standar terbaik tata kelola. Kebijakan dan on laws and regulations and best practice governance standards.
pedoman internal PGE yang mendukung pelaksanaan tata kelola PGE’s internal policies and guidelines that support governance
antara lain: implementation include:
• Pedoman Tata Kelola Perusahaan (Code of Corporate • Code of Corporate Governance
Governance)
• Pedoman Etika Usaha dan Tata Perilaku (Code of Conduct) • Code of Business Ethics and Code of Conduct
• Pedoman Hubungan Antar Organ Perseroan (Board Manual) • Board Manual
• Pedoman Pengelolaan Gratifikasi • Gratification Management Manual
• Pedoman Penanganan Konflik Kepentingan (Conflict of • Conflict of Interest Handling Manual
Interest)
• Pedoman Penyampaian Keterbukaan Informasi • Information Disclosure Manual
• Pedoman Transaksi Afiliasi dan Transaksi Benturan • Affiliated Transactions and Conflict of Interest Transactions
Kepentingan Manual
• Whistleblowing System (WBS-Pertamina Clean) • Whistleblowing System (WBS - Pertamina Clean)
ASEAN Corporate Governance Scorecard (ACGS) ASEAN Corporate Governance Scorecard (ACGS)
Penerapan GCG di PGE juga mengacu pada instrumen GCG The implementation of GCG at PGE also refers to the GCG
yang ditetapkan oleh ASEAN Capital Market Forum (ACMF) instrument established by the ASEAN Capital Market Forum
berupa ACGS untuk mengukur tingkat kepatuhan/GCG (ACMF), the ACGS, to measure the level of compliance/GCG
perusahaan publik di kawasan ASEAN. ACGS memiliki indikator- of public companies in the ASEAN region. The ACGS has
indikator yang selaras dengan international best practices dalam indicators aligned with international best practices in corporate
penerapan tata kelola perusahaan. PGE sebagai perusahaan governance implementation. PGE, as a public company and
publik dan bagian dari Badan Usaha Milik Negara (BUMN) part of a State-Owned Enterprise (SOE), continuously strives to
senantiasa berupaya untuk terus melakukan peningkatan kualitas improve the quality of GCG implementation. PGE believes that
penerapan GCG. PGE memiliki keyakinan dengan praktik tata strong governance practices can increase investor confidence
kelola yang kuat dapat meningkatkan kepercayaan investor dan and meet stakeholder expectations.
memenuhi harapan pemangku kepentingan.
Tujuan Penerapan Tata Kelola Objectives of Good Corporate
Perusahaan yang Baik Governance Implementation
Tujuan penerapan GCG sebagaimana yang dituangkan dalam The objectives of GCG implementation, as outlined in PGE’s
kebijakan atau pedoman tata kelola Perusahaan PGE adalah: corporate governance policies and guidelines, are:
1. Menciptakan kesinambungan usaha melalui pengelolaan 1. Creating business continuity through Company management
Perseroan yang didasarkan pada prinsip transparansi, based on the principles of transparency, accountability,
akuntabilitas, responsibilitas, independensi dan kewajaran. responsibility, independence, and fairness.
2. Meningkatkan pelaksanaan fungsi dan kemandirian masing- 2. Improving the implementation of the functions and
masing Organ Perseroan yaitu RUPS, Dewan Komisaris independence of each Company Organ, namely the GMS,
dan Direksi serta mendorong masing-masing Organ the Board of Commissioners, and the Board of Directors, and
Perseroan agar dalam membuat keputusan dan menjalankan encouraging each Company Organ to base its decisions and
tindakannya dilandasi oleh nilai moral yang tinggi dan actions on high moral values and compliance with laws and
kepatuhan terhadap peraturan perundang-undangan. regulations.
3. Menciptakan kesadaran dan tanggung jawab sosial 3. Creating awareness and corporate social responsibility
perusahaan terhadap masyarakat dan kelestarian lingkungan towards the community and environmental sustainability,
terutama di sekitar Perseroan. especially in the Company’s vicinity.
PT Pertamina Geothermal Energy Tbk
Page 254
252 Laporan Tahunan 2025 | 2025 Annual Report 4. Mengoptimalkan nilai perusahaan bagi Pemegang Saham 4. Optimizing corporate value for Shareholders while dengan tetap memperhatikan kepentingan Stakeholders. considering the interests of Stakeholders. 5. Perseroan memiliki daya saing yang kuat, baik secara 5. Maintaining strong competitiveness, both nationally and nasional maupun internasional. internationally. 6. Meningkatkan kontribusi Perseroan dalam perekonomian 6. Increasing the Company’s contribution to the national nasional. economy. 7. Menarik minat dan menjaga kepercayaan investor. 7. Attracting and maintaining investor confidence. KOMITMEN PENERAPAN TATA KELOLA COMMITMENT TO GOOD CORPORATE PERUSAHAAN YANG BAIK GOVERNANCE IMPLEMENTATION PT Pertamina Geothermal Energy Tbk (PGE) sebagai salah satu As a subsidiary of PT Pertamina (Persero), PT Pertamina anak usaha dari PT Pertamina (Persero) memiliki komitmen untuk Geothermal Energy Tbk (PGE) is committed to implementing good menerapkan tata kelola perusahaan yang baik secara konsisten corporate governance consistently and sustainably. The principles dan berkesinambungan. Prinsip-prinsip Good Corporate of Good Corporate Governance (GCG) have consistently served Governance (GCG) senantiasa menjadi pondasi PGE dalam as the foundation of PGE’s business, providing access to clean, menjalankan usahanya untuk menyediakan akses ke energi environmentally friendly energy through geothermal energy. bersih dan ramah lingkungan melalui pemanfaatan panas bumi. The implementation of GCG is expected to improve PGE’s Penerapan GCG diharapkan dapat meningkatkan kinerja PGE performance and build stakeholder trust. dan kepercayaan pemangku kepentingan. PGE telah melakukan berbagai tindakan strategis untuk PGE has taken various strategic actions to implement GCG menerapkan prinsip-prinsip GCG, antara lain: principles, including: • Melakukan pembaruan dan penyempurnaan informasi terkait • Updating and refining related information on the Company’s pada situs web Perseroan antara lain informasi. website, including information on. • Kewajiban penandatanganan pernyataan kode etik, • The obligation to sign a code of ethics statement and disclose pengungkapan benturan kepentingan dan gratifikasi bagi conflicts of interest and gratification for management and all manajemen dan seluruh individu di PGE yang dilakukan individuals at PGE, which is done online through an internal secara daring melalui portal internal. Selama tahun portal. Throughout 2025, the code of ethics statement, 2025, pernyataan kode etik dan pengungkapan benturan disclosure of conflicts of interest, and gratifications have been kepentingan serta gratifikasi telah dipenuhi 100%. 100% fulfilled. • Kewajiban menyampaikan Laporan Harta Kekayaan • The obligation to submit a State Officials’ Wealth Report Penyelenggara Negara (LHKPN) telah dilakukan sesuai (LHKPN) has been carried out in accordance with the ketentuan oleh 216 wajib lapor di PGE dengan pemenuhan provisions by 216 mandatory reporters at PGE, with a mencapai 100%. compliance rate of 100%. • Penilaian penerapan tata kelola telah dilakukan berdasarkan • Assessment of governance implementation has been Peraturan Otoritas Jasa Keuangan (OJK), Peraturan Menteri conducted based on Financial Services Authority Regulations, BUMN dan ASEAN Corporate Governance Scorecard Regulations of the Minister of SOE, and the ASEAN Corporate (ACGS) baik secara self-assessment maupun penilaian oleh Governance Scorecard (ACGS), both through self-assessment pihak ekternal. and external assessment. Roadmap Penerapan Tata Kelola Roadmap for Good Corporate Perusahaan Governance Implementation Sebagai perusahaan yang go public pada tahun 2023, PGE As a publicly listed company in 2023, PGE is strongly committed to memiliki komitmen kuat untuk memiliki pondasi yang kokoh dalam establishing a solid foundation for developing its geothermal and mengembangkan bisnis geothermal dan green energy sesuai green energy businesses in accordance with laws and regulations dengan peraturan perundang-undangan serta praktik-praktik and sound and ethical business practices. The Company is bisnis yang sehat dan beretika. Penerapan tata kelola yang committed to implementing good corporate governance, and baik menjadi komitmen Perseroan dan upaya-upaya untuk terus efforts to continuously improve its implementation are ongoing. meningkatkan pelaksanaannya dilakukan secara berkelanjutan. PT Pertamina Geothermal Energy Tbk
Page 255
Laporan Tahunan 2025 | 2025 Annual Report 253
• Pedoman GCG (Code of Corporate Governance) • The Code of Corporate Governance (GCG), which
yang mencakup prinsip-prinsip, pedoman bagi organ includes principles and guidelines for the Company’s
Perseroan dan pedoman bagi pemangku kepentingan. organs and guidelines for stakeholders.
2020 • Pedoman Etika Usaha dan Tata Perilaku (Code of • The Code of Business Ethics and Code of Conduct serve
Conduct) merupakan acuan bagi Insan Perseroan dalam as a reference for the Company’s personnel in carrying
melaksanakan kegiatan usahanya termasuk dalam out their business activities, including interacting with
berinteraksi dengan pemangku kepentingan. stakeholders.
2021 Penerapan ISO 37001 tentang Sistem Manajemen Anti
Penyuapan Kantor Pusat dan seluruh area Perseroan.
Implementation of ISO 37001 Anti-Bribery Management
System at Head Office and all areas of the Company.
• Pengkinian Pedoman Penanganan Konflik Kepentingan • Updated Conflict of Interest Handling Manual, which
(Conflict of Interest) yang bertujuan menjaga integritas aim to maintain integrity and avoid Conflicts of Interest.
untuk menghindari Konflik Kepentingan.
• Pengkinian Pedoman Pengendalian Gratifikasi sebagai • Updated Gratification Control Manual as a supporting
kebijakan pendukung program pengendalian gratifikasi. policy for the gratification control program.
2022 • Penerapan sistem pelaporan pelanggaran • Implementation of a whistleblowing system managed
(Whistleblowing System) yang dikelola secara centrally by the Internal Audit Function of PT Pertamina
tersentralisasi oleh Fungsi Internal Audit PT Pertamina (Persero).
(Persero).
• Pedoman Indentifikasi dan Evaluasi Penaatan Peraturan • Guidelines for Identification and Evaluation of
Perundangan. Compliance with Laws and Regulations.
• Pengkinian Pedoman GCG yaitu Code of Corporate • Updated GCG Guidelines, namely the Code of
Governance yang merupakan acuan dalam penerapan Corporate Governance, which serves as a reference for
prinsip-prinsip GCG. implementing GCG principles.
• Pengkinian Board Manual yang merupakan pedoman • Updated Board Manual, which serves as a guideline for
tata kerja Direksi dan Dewan Komisaris dan hubungan the work procedures of the Board of Directors and the
antar organ Perseroan. Board of Commissioners and the relationships between
2023 • Pengkinian Pedoman Etika Usaha dan Tata Perilaku •
the Company’s organs.
Updated Code of Business Ethics and Code of Conduct,
(Code of Conduct) yang merupakan acuan bagi Insan which serves as a reference for Company personnel
Perseroan dalam melaksanakan kegiatan usahanya in carrying out their business activities, including
termasuk dalam berinteraksi dengan pemangku interactions with stakeholders.
kepentingan.
• Pedoman Transaksi Afiliasi dan Transaksi Benturan • Affiliated Transactions and Conflict of Interest
Kepentingan. Transactions Manual.
• Penunjukan koordinator penerapan dan pemantauan • Appointment of a GCG implementation and monitoring
GCG yang diketuai oleh Direktur Keuangan yang coordinator chaired by the Finance Director and
beranggotakan pekerja lintas fungsi (cross function). consisting of cross-functional employees.
2024 • Pedoman Penyelengaraan Rapat Umum Pemegang • Manual for Holding General Meetings of Shareholders.
Saham.
• Pedoman Pelaksanaan Keterbukaan Informasi. • Manual for Information Disclosure Implementation.
• Pedoman Pengelolaan Program Compliance. • Compliance Program Management Manual.
• Pengkinian Pedoman Penanganan Konflik Kepentingan • Updated Conflict of Interest Handling Manual, which
(Conflict of Interest) yang bertujuan menjaga integritas aims to maintain integrity and avoid Conflicts of Interest.
2025 •
untuk menghindari Konflik Kepentingan.
Pengkinian Pedoman Pengelolaan Gratifikasi sebagai • Updated Gratification Management Manual as a
kebijakan pendukung program pengendalian gratifikasi. supporting policy for the gratification control program.
• Pengkinian Pedoman Identifikasi dan Evaluasi Penaatan • Updated Manual for Identification and Evaluation of
Peraturan Perundangan . Laws and Regulations Compliance.
PT Pertamina Geothermal Energy Tbk
Page 256
254 Laporan Tahunan 2025 | 2025 Annual Report
PENILAIAN ATAS PENERAPAN TATA ASSESSMENT OF GOOD CORPORATE
KELOLA PERUSAHAAN YANG BAIK GOVERNANCE IMPLEMENTATION
Penilaian penerapan GCG merupakan salah satu upaya untuk Assessment of GCG implementation is one way to measure
mengukur dan memastikan implementasi tata kelola perusahaan and ensure that good corporate governance is implemented in
yang baik dijalankan sesuai ketentuan dan pedoman yang accordance with applicable national and international regulations
berlaku baik secara nasional maupun internasional. Perseroan and guidelines. The Company conducts periodic assessments
melakukan penilaian secara berkala berdasarkan kriteria atau based on the following criteria or parameters:
parameter berikut ini:
1. Parameter Badan Usaha Milik Negara (BUMN). 1. State-Owned Enterprise (SOE) Parameters.
2. Pedoman Tata Kelola Perusahaan Terbuka POJK 2. Public Company Governance Guidelines POJK
No. 21/ POJK.04/2015. No. 21/POJK.04/2015.
3. ASEAN Corporate Governance Scorecard (ACGS) 3. ASEAN Corporate Governance Scorecard (ACGS) 2024.
tahun 2024.
4. Pedoman Umum Governansi Korporat Indonesia, tahun 2021 4. Provision of the Indonesian Corporate Governance Manual
(PUG-KI). (PUGKI), 2021.
Penilaian Berdasarkan Parameter Badan Assessment Based on State-Owned
Usaha Milik Negara (BUMN) Enterprise (SOE) Parameters
Perseroan sebagai bagian dari BUMN juga melakukan The Company, as part of a state-owned enterprise (SOE), also
penerapan tata kelola sesuai parameter BUMN yang ditetapkan implements good corporate governance in accordance with
melalui SK-16/S.MBU/2012 tentang Indikator atau Parameter SOE parameters established through SK-16/S. MBU/2012
Penilaian dan Evaluasi atas Penerapan Tata Kelola Perusahaan concerning Indicators or Parameters for the Assessment
yang Baik (Corporate Governance) Badan Usaha Milik Negara. and Evaluation of the Implementation of Good Corporate
Governance in State-Owned Enterprises.
Kriteria penilaian GCG Assessment berdasarkan parameter The GCG Assessment criteria based on SOE parameters include
BUMN meliputi 6 (enam) aspek pokok yaitu: six main aspects:
1. Komitmen Terhadap Penerapan Tata Kelola Perusahaan yang 1. Commitment to Sustainable Implementation of Good
Baik Secara Berkelanjutan Corporate Governance
2. Pemegang Saham dan RUPS 2. Shareholders and GMS
3. Dewan Komisaris 3. Board of Commissioners
4. Direksi 4. Board of Directors
5. Pengungkapan Informasi dan Transparansi 5. Information Disclosure and Transparency
6. Aspek Lain 6. Other Aspects
Penilaian dilakukan 2 (dua) tahun sekali dan terakhir dilakukan The assessment is conducted every 2 (years), with the most recent
pada tahun 2024 oleh pihak independen yaitu PT Pratama assessment being conducted in 2024 by an independent party,
Indomitra Konsultan dengan mendapatkan kriteria “Sangat PT Pratama Indomitra Konsultan, which received a “Very Good”
Baik”. Penilaian berikutnya akan dilakukan pada tahun 2026. rating. The next assessment will be conducted in 2026.
Penilaian Berdasarkan Paremeter BUMN Tahun 2024
Assessment Based on SOE Parameters in 2024
Persentase
Aspek Pengujian Bobot Skor Capaian Pencapaian Klasifikasi
No.
Testing Aspect Maximum Score Score Achievement Percentage Classification
Achievement
I Komitmen Terhadap Penerapan Tata Kelola Perusahaan
Secara Berkelanjutan Sangat Baik
7,00 7,00 100%
Commitment to the Sustainable Corporate Governance Very Good
Implementation
II Pemegang Saham dan Rapat Umum Pemegang Saham
(RUPS) Sangat Baik
9,00 8,87 98,56%
Shareholders and the General Meeting of Shareholders Very Good
(GMS)
III Dewan Komisaris Sangat Baik
35,00 32.38 92,50%
Board of Commissioners Very Good
PT Pertamina Geothermal Energy Tbk
Page 257
Laporan Tahunan 2025 | 2025 Annual Report 255
Persentase
Aspek Pengujian Bobot Skor Capaian Pencapaian Klasifikasi
No.
Testing Aspect Maximum Score Score Achievement Percentage Classification
Achievement
IV Direksi Sangat Baik
35,00 32.33 92,37%
Board of Directors Very Good
V Pengungkapan Informasi dan Transparansi Sangat Baik
9,00 8,27 91,93%
Information Disclosure and Transparency Very Good
VI Aspek Lainnya Sangat Baik
5,00 5,00 100%
Other Aspects Very Good
Sangat Baik
Total 93.85%
Very Good
Hasil penilaian penerapan GCG berdasarkan parameter BUMN The results of the assessment of GCG implementation based on
dapat dilihat pada hal 449 dalam laporan ini. SOE parameters can be found on page 449 in this report.
Praktik Bad Corporate Governance Bad Corporate Governance Practices
Perseroan berkomitmen untuk menerapkan tata kelola The Company is committed to implementing good corporate
perusahaan yang baik dalam menjalankan aktivitas Perseroan governance in carrying out its activities and fulfilling its obligations
dan kewajiban untuk memenuhi ketentuan peraturan perundang- to comply with statutory regulations. Throughout 2025, the
undangan. Selama tahun 2025 tidak terdapat praktik bad Company will not engage in any bad corporate governance
corporate governance yang dilakukan Perseroan. practices.
Praktik Bad Corporate Governance
Bad Corporate Governance Practices
Keterangan
No Praktik
Description
1 Adanya laporan sebagai perusahaan yang mencemari lingkungan Nihil
Reports stating that the Company polluted the environment Nil
2 Perkara penting yang sedang dihadapi oleh Perseroan, entitas anak, anggota Direksi, dan/ atau anggota Dewan Komisaris yang
sedang menjabat tidak diungkapkan dalam Laporan Tahunan Nihil
Important matters facing the Company, subsidiaries, current members of the Board of Directors and/or current members of the Nil
Board of Commissioners were not disclosed in the Annual Report
3 Ketidakpatuhan dalam pemenuhan kewajiban perpajakan Nihil
Non-compliance in fulfilling tax obligations Nil
4 Ketidaksesuaian penyajian Laporan Tahunan dan Laporan Keuangan dengan peraturan yang berlaku dan SAK Nihil
Mismatch of presentation of the Annual Report and Financial Report with applicable regulations and Indonesian GAAP Nil
5 Kasus terkait buruh dan pekerja Nihil
Cases related to workers and employees Nil
6 Tidak terdapat pengungkapan segmen operasi pada perusahaan listed Nihil
There was no disclosure of operating segments in listed companies Nil
7 Terdapat ketidaksesuaian antara Laporan Tahunan hardcopy dengan Laporan Tahunan softcopy Nihil
There was a discrepancy between the Annual Report’s hardcopy and softcopy Nil
Penilaian Berdasarkan Peraturan Assessment Based on Financial Services
Otoritas Jasa Keuangan (OJK) Authority (OJK) Regulations
Evaluasi penerapan GCG berdasarkan Peraturan Otoritas Evaluation of GCG implementation based on Financial
Jasa Keuangan (POJK) No. 21/POJK.04/2015 dan Edaran Services Authority Regulation (POJK) No. 21/POJK.04/2015
Otoritas Jasa Keuangan (SEOJK) No. 32/SEOJK.04/2015 and Financial Services Authority Circular (SEOJK) No. 32/
tentang Penerapan Pedoman Tata Kelola Perusahaan Terbuka SEOJK.04/2015 concerning the Implementation of Public
mencakup 5 (lima) aspek, 8 (delapan) prinsip, serta 25 (dua Company Governance Guidelines includes 5 (five) aspects, 8
puluh lima) rekomendasi penerapan aspek dan prinsip tata (eight) principles, and 25 (twenty-five) recommendations for the
kelola perusahaan yang baik berdasarkan pendekatan “telah implementation of aspects and principles of good corporate
sesuai/terpenuhi atau dengan penjelasan” (comply or explain). governance based on the “comply or explain” approach.
PT Pertamina Geothermal Energy Tbk
Page 258
256 Laporan Tahunan 2025 | 2025 Annual Report
Aspek Prinsip Rekomendasi Status
No.
Aspects Principle Recommendation Comply Explain
Hubungan Perusahaan dengan Pemegang Saham Dalam Menjamin
Hak-Hak Pemegang Saham Terpenuhi
A. 2 5 -
The Company's Relationship with Shareholders in Guaranteeing Complied
Shareholder Rights
Fungsi dan Peran Dewan Komisaris Terpenuhi
B. 2 6 -
Functions and Roles of the Board of Commissioners Complied
Fungsi dan Peran Direksi Terpenuhi
C. 2 6 -
Functions and Roles of the Board of Directors Complied
Partisipasi Pemangku Kepentingan Terpenuhi
D. 1 6 -
Stakeholder Participation Complied
Keterbukaan Informasi Terpenuhi
E. 1 2 -
Information Disclosure Complied
Total 8 25
Hasil penilaian GCG berdasarkan pedoman tata kelola OJK The result of GCG assesment based on OJK corporate governance
dapat dilihat pada halaman 451 dalam laporan ini. guidelines can be found on page 451 this report.
Penilaian Berdasarkan Parameter ASEAN Assessment Based on ASEAN Corporate
Corporate Governance Scorecard (ACGS) Governance Scorecard (ACGS)
Parameters
ASEAN Corporate Governance Scorecard (ACGS) merupakan The ASEAN Corporate Governance Scorecard (ACGS) is a GCG
standar penilaian GCG yang dikembangkan oleh Forum Pasar assessment standard developed by the ASEAN Capital Market
Modal ASEAN (ASEAN Capital Market Forum/ACMF) dalam Forum (ACMF) to integrate the capital markets of the Association
rangka integrasi pasar modal negara-negara anggota Asosiasi of Southeast Asian Nations (ASEAN) member countries.
Negara Asia Tenggara (ASEAN).
Indikator penilaian ACGS terdiri dari 2 (dua) tingkat/level The ACGS assessment indicators consist of two levels, as follows:
sebagai berikut:
1. Tingkat 1, terdiri dari 4 (empat) prinsip yaitu: 1. Level 1, consisting of four principles:
a. Prinsip A - Hak-hak dan Perlakuan Setara terhadap a. Principle A - Rights and Equitable Treatment of
Pemegang Saham. Shareholders.
b. Prinsip B - Keberlanjutan dan Ketangguhan. b. Principle B - Sustainability and Resilience.
c. Prinsip C - Pengungkapan dan Transparansi. c. Principle C - Disclosure and Transparency.
d. Prinsip D - Tanggung Jawab Dewan. d. Principle D - Responsibilities of the Board.
2. Tingkat 2, terdiri dari Bonus dan Penalti. 2. Level 2, consisting of Bonuses and Penalties.
Pihak yang Melakukan Penilaian Parties Conducting the Assessment
Pada tahun 2025, penilaian GCG berdasarkan standar ACGS In 2025, the GCG assessment based on the ASEAN Corporate
telah dilakukan oleh pihak independen yaitu PT Pratama Governance Scorecard (ACGS) standard was conducted by
Indomitra Konsultan. Penilaian dilakukan berdasarkan dokumen- an independent party, namely PT Pratama Indomitra Konsultan.
dokumen yang tersedia bagi publik berkaitan dengan praktik- The assessment was carried out based on publicly available
praktik Corporate Governance yang dilakukan oleh perusahaan documents related to the Company’s corporate governance
untuk Tahun buku 2024. Sumber-sumber informasi diantaranya practices for the 2024 financial year. The sources of information
meliputi Website Perusahaan, Laporan Tahunan, Pengumuman included the Company’s website, Annual Report, announcement
Panggilan Rapat Pemegang Saham (RUPS), Anggaran Dasar of the Notice of the General Meeting of Shareholders (GMS), the
Perusahaan, Pedoman Kerja Dewan Komisaris, Direksi dan Company’s Articles of Association, the charters of the Board of
Komite-Komite, serta informasi-informasi publik relevan lainnya. Commissioners, Board of Directors and Committees, as well as
other relevant public disclosures.
Hasil penilaian dengan menggunakan standar ACGS The assessment using the ACGS standards resulted in a score of
mendapatkan skor sebesar 122,52%, dengan rincian sebagai 122.52%, with the following details:
berikut:
PT Pertamina Geothermal Energy Tbk
Page 259
Laporan Tahunan 2025 | 2025 Annual Report 257
Jumlah
Parameter Jumlah Item
Jumlah
dikurangi Kepatuhan
Prinsip Parameter Bobot Total Skor Presentase
N/A N/A Total
Principle Number of Weight Total Score Precentage
Jumlah Compliance
Parameter
Parameter Items
dikurangi N/A
Level 1
Prinsip A Hak-hak dan Perlakuan
Principle A Setara terhadap Pemegang
Saham 30 20 % 1 29 26 17.93 90%
Rights and Equal Treatment
of Shareholders
Prinsip B Keberlanjutan dan
Principle B Ketahanan 22 15% 0 22 22 15.00 100%
Sustainability and Resilience
Prinsip C Transparansi dan
Principle C Pengungkapan 34 25% 0 34 33 24.26 97%
Transparency and Disclosure
Prinsip D Tanggung Jawab Dewan
63 40% 4 59 58 39.32 98%
Principle D Board Responsibilities
Total Level 1 149 100% 5 144 139 96.52
Level 2
Bonus
18 - - - - 26 -
Bonuses
Penalti
26 - - - - 0 -
Penalty
Total Level 2 42 26
Total 191 122.52
Hasil Penilaian Pihak Independen Independent Assesor Results
Penerapan tata kelola perusahaan di lingkungan PGE secara The implementation of corporate governance within PGE has
umum telah berjalan dengan baik dan terdapat beberapa generally been successful, and several recommendations need
rekomendasi yang perlu ditindaklanjuti untuk meningkatkan to be followed up on to improve GCG implementation within
penerapan GCG di Perseroan. Rekomendasi hasil penilaian the Company. The assessment recommendations are explained
dijelaskan sebagai berikut: as follows:
Rekomendasi Hasil Penilaian Recommendations Based on the Assessment Results
Perseroan melakukan upaya perbaikan terhadap implementasi The Company is undertaking initiatives to improve the
praktik GCG ke depan, terutama untuk beberapa indikator implementation of GCG practices going forward, especially
penilaian yang belum dapat dipenuhi sesuai standar ASEAN for several assessment indicators that have not yet fully met the
Corporate Governance Scorecard. standards set by the ASEAN Corporate Governance Scorecard.
Kriteria Rekomendasi
No
Criteria Recommendation
Level 1
Prinsip A: Hak dan Perlakuan yang Adil terhadap Pemegang Saham
Principle A: Shareholders’ Rights and Equitable Treatment
Apakah perusahaan memberikan hak kepada pemegang Memastikan pemegang saham non-pengendali diberikan hak untuk
saham non pengendali mencalonkan kandidat untuk mencalonkan calon direksi/komisaris.
dewan Direksi/Komisaris?
A.2.2
Does the company grant non-controlling shareholders the Ensure that non-controlling shareholders are granted the right to
right to nominate candidates for the Board of Directors/ nominate candidates for the Board or Directors/Commissioners.
Commissioners?
Apakah perusahaan memperbolehkan pemegang saham Memastikan pemegang saham Perseroan dapat memilih direktur/
memilih direktur/komisaris secara individu? komisaris secara individu.
A.2.3
Does the Company allow shareholders to elect Directors/ Ensure that shareholders are able to elect the Board of Directors/
Commissioners on an individual basis? Commissioners on an individual basis.
PT Pertamina Geothermal Energy Tbk
Page 260
258 Laporan Tahunan 2025 | 2025 Annual Report
Kriteria Rekomendasi
No
Criteria Recommendation
Apakah perusahaan mengumumkan secara publik paling Memastikan pengumuman hasil pemungutan suara pada RUPS/
lambat pada hari kerja berikutnya hasil pemungutan suara RUPSLB terkini dilakukan untuk semua Keputusan kepada publik pada
dalam RUPS/RUPSLB terakhir untuk seluruh mata acara hari kerja berikutnya.
A.2.12 rapat?
Does the Company publicly disclose the voting results for Ensure that the voting results for all agenda items from the most recent
all agenda items from the most recent GMS/EGMS no later GMS/EGMS are publicly disclosed no later than the next working
than the next working day? day.
Prinsip C: Transparansi dan Pengungkapan
Principle C: Transparency and Disclosure
Anggaran dasar perusahaan (anggaran rumah tangga Memastikan Anggaran Dasar Perseroan, (nota kesepahaman dan
perusahaan, nota kesepahaman dan anggaran dasar) anggaran dasar) diungkapkan dalam website resmi Perseroan.
C.9.6 The Company’s Articles of Association (including the Ensure that the Company's Articles of Association (Memorandum
Company by-laws, Memorandum of Understanding and of Understanding and Articles of Association) are disclosed on the
Articles of Association) Company's official website.
Prinsip D: Tanggung Jawab Dewan
Principle D: Board Responsibilities
Apakah perusahaan mengungkapkan proses bagaimana Memastikan telah dilakukan pengungkapan proses dewan direksi/
dewan direksi/komisaris merencanakan suksesi CEO/ komisaris dalam merencanakan suksesi CEO/Direktur Utama/
Direktur Utama/ Presiden dan manajemen kunci? Presiden dan manajemen kunci.
D.5.3
Does the Company disclose the process how the Board of Ensure that the disclosure regarding how the Board of Directors/
Directors/Commissioners plan the succession of the CEO/ Commissioners plan the succession process for the CEO/President
President Director/President and key management? Director/President and key management positions has been carried out.
Hasil penilaian GCG berdasarkan standar ACGS dapat dilihat The results of the GCG assessment based on the ACGS standard
pada halaman 459 dalam laporan ini. can be found on page 459 of this report.
Pedoman Umum Governansi Korporat General Guidelines for Indonesian
Indonesia (PUG-KI) Corporate Governance (PUG-KI)
Penilaian GCG berdasarkan parameter PUGKI terdiri dari empat GCG assessment based on PUGKI parameters consists of four
pilar governansi korporat yaitu perilaku beretika, akuntabilitas, pillars of corporate governance, namely ethical behavior,
transparansi, dan keberlanjutan melalui 8 (delapan) prinsip accountability, transparency, and sustainability through 8 (eight)
dan 81 rekomendasi berdasarkan pendekatan “telah sesuai/ principles and 81 recommendations based on a “comply or
terpenuhi atau dengan penjelasan” (comply or explain). explain” approach.
Pihak yang Melakukan Penilaian dan Hasil Party Conducting Assessment and
Penilaian Assessment Results
Penilaian penerapan GCG berdasarkan parameter PUGKI The assessment of GCG implementation based on PUGKI
dilakukan Perseroan secara self-assessment dan Perseroan telah parameters was conducted by the Company through self-
memenuhi seluruh parameter tersebut. Ringkasan hasil penilaian assessment, and the Company has fulfilled all of these parameters.
atas penerapan GCG sesuai rekomendasi PUGKI dapat dilihat A summary of the assessment results on GCG implementation in
pada tabel berikut: accordance with PUGKI recommendations can be seen in the
following table:
Status Area Improvement
Aspek
No. Saran
Aspect Comply Explain N/A
Suggestion
Peran dan Tanggung Jawab Direksi dan Dewan Komisaris
Terpenuhi
1 Roles and Responsibilities of the Board of Directors and Board of - - -
Complied
Commissioners
Komposisi dan Remunerasi Direksi dan Dewan Komisaris Terpenuhi
2 Composition and Remuneration of the Board of Directors and Complied - - -
Board of Commissioners
Hubungan Kerja antara Direksi dan Dewan Komisaris Terpenuhi
3 Working Relationship between the Board of Directors and the Complied - - -
Board of Commissioners
PT Pertamina Geothermal Energy Tbk
Page 261
Laporan Tahunan 2025 | 2025 Annual Report 259
Status Area Improvement
Aspek
No. Saran
Aspect Comply Explain N/A
Suggestion
Perilaku Etis dan Bertanggung Jawab Terpenuhi
4 - - -
Ethical and Responsible Behavior Complied
Manajemen Risiko, Pengendalian Internal dan Kepatuhan Terpenuhi
5 - - -
Risk Management, Internal Control and Compliance Complied
Pengungkapan dan Transparansi Terpenuhi
6 - - -
Disclosure and Transparency Complied
Hak-hak Pemegang Saham Terpenuhi
7 - - -
Rights of Shareholders Complied
Hak-hak Pemangku Kepentingan Terpenuhi
8 - - -
Rights of Stakeholders Complied
Hasil penilaian GCG berdasarkan parameter PUGKI dapat The results of the GCG assessment based on the PUGKI
dilihat pada halaman 490 dalam laporan ini. parameters can be found on page 490 of this report.
STRUKTUR DAN MEKANISME TATA CORPORATE GOVERNANCE STRUCTURE
KELOLA PERUSAHAAN AND MECHANISM
Struktur Organ Tata Kelola Perusahaan Corporate Governance Organ Structure
RAPAT UMUM PEMEGANG SAHAM (RUPS)
GENERAL MEETING OF SHAREHOLDERS (GMS)
DEWAN KOMISARIS DIREKSI
BOARD OF COMMISSIONERS BOARD OF DIRECTORS
• Sekretaris Dewan Komisaris • Sekretaris Perusahaan
• Komite Investasi dan Manajemen Risiko • Komite Manajemen Risiko
• Komite Audit • Fungsi Enterprise Risk Management
• Komite Nominasi dan Remunerasi • Fungsi Legal & Compliance
• Fungsi Internal Audit
• Secretary to the Board of Commissioners • Fungsi Human Capital & Business Support
• Investment and Risk Management Committee • Fungsi Pendukung lainnya
• Audit Committee
• Nomination and Remuneration Committee • Corporate Secretary
• Risk Management Committee
• Enterprise Risk Management Function
• Legal & Compliance Function
• Internal Audit Function
• Human Capital & Business Support Function
• Other Supporting Functions
Berdasarkan Undang-Undang No. 40 tahun 2007 tentang Based on Law No. 40 of 2007 concerning Limited Liability
Perseroan Terbatas, organ utama Perseroan terdiri dari Rapat Companies, the Company’s primary organs consist of the General
Umum Pemegang Saham (RUPS), Dewan Komisaris dan Meeting of Shareholders (GMS), the Board of Commissioners,
Direksi. RUPS merupakan organ Perusahaan yang mempunyai and the Board of Directors. The GMS is the Company’s organ
wewenang yang tidak diberikan kepada Direksi atau Dewan with authority not granted to the Board of Directors or the Board
Komisaris. Dewan Komisaris bertugas melakukan pengawasan of Commissioners. The Board of Commissioners is responsible for
atas kebijakan yang dilakukan Direksi dan memberi nasihat overseeing and advising the Board of Directors on the policies that
kepada Direksi. Sedangkan Direksi adalah organ Perseroan yang have been implemented. The Board of Directors is the Company
berwenang dan bertanggung jawab penuh atas pengurusan organ with full authority and responsibility for the management
Perseroan. of the Company.
Mekanisme Tata Kelola Perusahaan Corporate Governance Mechanism
Mekanisme tata kelola Perusahaan merupakan proses penerapan Corporate governance mechanisms are the process of good
tata kelola yang didukung oleh kecukupan struktur perusahaan governance implementation supported by an adequate corporate
yang memadai untuk mendapatkan hasil sesuai dengan tujuan structure to achieve outcomes in line with the Company’s objectives
perusahaan dan harapan pemangku kepentingan. Setiap organ and stakeholder expectations. Each of the Company’s primary
utama perusahaan memiliki peran dan fungsi dalam mendukung organs has a role and function in supporting the achievement of
pencapaian hasil tata kelola yang efektif. effective governance outcomes.
PT Pertamina Geothermal Energy Tbk
Page 262
260 Laporan Tahunan 2025 | 2025 Annual Report PT Pertamina Geothermal Energy Tbk
Page 263
Laporan Tahunan 2025 | 2025 Annual Report 261
Rapat Umum
Pemegang Saham (RUPS)
General Meeting Of Shareholders (GMS)
Sesuai dengan Undang Undang No.40 tahun 2007 tentang In accordance with Law No. 40 of 2007 concerning Limited
Perseroan Terbatas dan Anggaran Dasar Perseroan, RUPS Liability Companies and the Company's Articles of Association,
merupakan organ tertinggi dalam perusahaan dan memiliki the GMS is the highest organ in the Company and has authority
kewenangan yang tidak diberikan kepada Dewan Komisaris not granted to the Board of Commissioners and the Board of
dan Direksi. RUPS merupakan wadah bagi pemegang saham Directors. The GMS is a forum for shareholders to express opinions,
untuk menyampaikan pendapat dan mendapatkan informasi obtain information, and make decisions in accordance with the
serta memberikan keputusan sesuai kewenangan RUPS. RUPS GMS's authority. The GMS also serves as a communication forum
juga merupakan forum komunikasi antara Dewan Komisaris dan between the Board of Commissioners and the Board of Directors
Direksi dengan pemegang saham Perseroan. and the Company's shareholders.
RUPS terdiri dari RUPS Tahunan (RUPST) dan RUPS Luar Biasa The GMS consists of the Annual General Meeting of Shareholders
(RUPSLB). (AGMS) and the Extraordinary General Meeting of Shareholders
(EGMS).
• RUPS Tahunan adalah RUPS yang wajib diselenggarakan 1 • The Annual General Meeting of Shareholders (AGMS) is a
(kali) dalam setahun yang dilakukan paling lambat 6 (enam) GMS that must be held once a year, no later than 6 (six)
bulan setelah akhir tahun buku. months after the end of the financial year.
• RUPS Luar Biasa adalah RUPS yang diselenggarakan sewaktu- • The Extraordinary General Meeting of Shareholders (EGMS)
waktu sesuai kebutuhan Perseroan sebagaimana diatur is a GMS held at any time as needed by the Company, as
dalam Undang Undang dan Anggaran Dasar Perseroan. governed in the Law and the Articles of Association.
Pemegang Saham dapat mengeluarkan keputusan tanpa Shareholders may issue resolutions without holding a physical
menyelenggarakan RUPS secara fisik melalui keputusan yang GMS through circular resolutions.
bersifat sirkuler.
PEMEGANG SAHAM SHAREHOLDERS
Pemegang saham Perseroan adalah PT Pertamina Power The Company's shareholders are PT Pertamina Power Indonesia
Indonesia (68,32%), Masdar Indonesia Solar Holding RSC (68.32%), Masdar Indonesia Solar Holding RSC Limited
Limited (14,85%), masyarakat (10,90%), dan PT Pertamina (14.85%), the public (10.90%), and PT Pertamina Pedeve
Pedeve Indonesia sebesar (5,93%). Indonesia (5.93%).
Hak Pemegang Saham Shareholder Rights
1. Menghadiri RUPS dan memberikan suara sesuai dengan 1. Attend the GMS and vote in accordance with the classification
klasifikasi dan jumlah saham yang dimiliki. and number of shares owned.
2. Menerima pembagian dari keuntungan Perseroan dalam 2. Receive distributions of the Company's profits in the form of
bentuk dividen dan bentuk pembagian keuntungan lainnya dividends and other forms of profit sharing in proportion to
sebanding dengan jumlah saham yang dimilikinya. the number of shares owned.
3. Memperoleh informasi material mengenai Perseroan secara 3. Receive material information regarding the Company in a
tepat waktu dan teratur. timely and regular manner.
4. Memberikan kuasa dengan hak substitusi kepada perorangan 4. Grant power of attorney with the right of substitution to
atau badan hukum untuk mewakilinya dalam RUPS. individuals or legal entities to represent them at the GMS.
PT Pertamina Geothermal Energy Tbk
Page 264
262 Laporan Tahunan 2025 | 2025 Annual Report
5. Menerima secara proporsional sisa lebih perhitungan 5. Receive a proportionate share of the liquidation surplus if the
likuidasi apabila Perseroan dilikuidasi. Company is liquidated.
6. Mengajukan gugatan ke Pengadilan Negeri terhadap 6. File a lawsuit with the District Court against members of
anggota Direksi yang karena kesalahan atau kelalaiannya the Board of Directors whose mistakes or negligence have
menimbulkan kerugian pada Perseroan (Pemegang Saham caused losses to the Company (Shareholders representing at
yang mewakili paling sedikit 1/10 (satu per sepuluh) bagian least 1/10 (one-tenth) of the total shares with valid voting
dari jumlah seluruh saham dengan hak suara yang sah). rights).
7. Melihat Daftar Pemegang Saham dan Daftar Khusus pada 7. Review the Shareholder Register and Special Register during
waktu jam kerja kantor Perseroan. the Company's office hours.
8. Menyelenggarakan RUPS dalam hal Direksi lalai 8. Hold a GMS if the Board of Directors fails to hold an Annual
menyelenggarakan RUPS Tahunan dan RUPS Luar Biasa. GMS or an Extraordinary GMS.
Tanggung Jawab Pemegang Saham Shareholder Responsibilities
1. Tunduk pada Anggaran Dasar dan semua keputusan yang 1. Comply with the Articles of Association and all resolutions
diambil dengan sah dalam RUPS, serta peraturan perundang- lawfully taken at the GMS, as well as applicable laws and
undangan yang berlaku. regulations.
2. Pemegang saham mayoritas mempunyai tanggung jawab 2. Majority shareholders have similar responsibilities; namely,
serupa, yakni dilarang menyalahgunakan hak mereka they are prohibited from abusing their rights under applicable
menurut peraturan perundang-undangan yang berlaku. laws and regulations.
3. Pemegang saham tidak diperkenankan mencampuri kegiatan 3. Shareholders are not permitted to interfere in the Company's
operasional Perseroan yang menjadi tanggung jawab Direksi operational activities, which are the responsibility of the
sesuai dengan Anggaran Dasar Perseroan dan peraturan Board of Directors, in accordance with the Company's
perundang-undangan yang berlaku. Articles of Association and applicable laws and regulations.
4. Pemegang saham memiliki tanggung jawab untuk mendorong 4. Shareholders have a responsibility to encourage the
pelaksanaan prinsip GCG dalam proses pengelolaan implementation of GCG principles in the Company's
Perseroan. management process.
5. Tanggung jawab lainnya yang diatur dalam Anggaran Dasar 5. Other responsibilities regulated in the Articles of Association
dan peraturan perundang-undangan yang berlaku. and applicable laws and regulations.
Akses Informasi Pemegang Saham Shareholder Information Access
PGE berkomitmen menyediakan akses informasi yang jelas, PGE is committed to providing clear, precise, and accurate
tepat, dan akurat kepada seluruh pemangku kepentingan dan information to all stakeholders and the public through its website
Masyarakat melalui situs web www.pge.pertamina.com, media www.pge.pertamina.com, the Company's social media channels,
sosial Perseroan, Laporan Tahunan, serta partisipasi dalam the Annual Report, and participation in various exhibitions.
berbagai pameran.
Perlakuan yang Sama Terhadap Equal Treatment of Shareholders
Pemegang Saham
Seluruh pemegang saham memiliki hak untuk mendapatkan All shareholders have the right to receive equal treatment,
perlakuan yang setara, antara lain kesetaraan dalam hak suara, including equality in voting rights, dividend distribution, and
pembagian dividen dan akses informasi perusahaan. Perseroan access to company information. The Company is consistently
senantiasa berkomitmen untuk menerapkan hal ini antara lain committed to implementing this through, among other things:
melalui:
1. Pemberian kesempatan hak bertanya atau memberikan 1. Providing all shareholders with the right to ask questions or
pendapat kepada seluruh pemegang saham mewakili lembar provide opinions on behalf of their shares at the General
saham yang dimiliki dalam Rapat Umum Pemegang Saham Meeting of Shareholders (GMS).
(RUPS).
2. Penyediaan akses informasi perusahaan melalui website 2. Providing access to company information through the
Perusahaan. Company's website.
PT Pertamina Geothermal Energy Tbk
Page 265
Laporan Tahunan 2025 | 2025 Annual Report 263
Dasar Hukum Penyelenggaraan RUPS Legal Basis for Holding a GMS
Penyelenggaraan RUPS Perseroan dilakukan dengan mengacu The Company's GMS is held in accordance with the following
pada ketentuan berikut: provisions:
1. Undang-Undang No. 40 tahun 2007 tentang Perseroan 1. Law No. 40 of 2007 concerning Limited Liability Companies.
Terbatas.
2. Peraturan Otoritas Jasa Keuangan No. 15/POJK.04/2020 2. Financial Services Authority Regulation No. 15/
tentang Rencana dan Penyelenggaraan Rapat Umum POJK.04/2020 concerning the Planning and Implementation
Pemegang Saham Perusahaan Terbuka. of General Meetings of Shareholders of Public Companies.
3. Peraturan Otoritas Jasa Keuangan No. 14 tahun 2025 3. Financial Services Authority Regulation No. 14 of 2025
tentang Pelaksanaan Rapat Umum Pemegang Saham, Rapat concerning the Implementation of Electronic General
Umum Pemegang Obligasi, dan Rapat Umum Pemegang Meetings of Shareholders, General Meetings of Bondholders,
Sukuk Secara Elektronik. and General Meetings of Sukuk Holders.
4. Anggaran Dasar Perseroan. 4. The Company's Articles of Association.
Tata Cara Penyelanggaraan RUPS Procedures for Holding a GMS
Penyelenggaraan RUPS dilakukan dengan mengikuti tahapan The GMS is held following the stages below:
sebagai berikut:
Pengumuman Ringkasan
Pengumuman RUPS Pemanggilan RUPS Pelaksanaan RUPS Risalah RUPS Risalah RUPS
GMS Announcement GMS Summons GMS Implementation GMS Minutes Summary GMS Minutes
Announcement
Pengumuman RUPS Pemanggilan kepada Pelaksanaan RUPS dihadiri Ringkasan Risalah RUPS Risalah RUPS berisi
kepada pemegang saham pemegang saham oleh Pemegang Saham berisi keputusan yang telah keputusan yang telah
dilakukan paling lambat 14 dilakukan paling lambat atau wakil Pemegang disepakati disampaikan disepakati dan disahkan
(empat belas) hari sebelum 21 (dua puluh satu) Saham yang tercatat dalam kepada Pemegang Saham oleh notaris disampaikan
pemanggilan RUPS hari sebelum tanggal Daftar Pemegang Saham kepada Pemegang Saham
penyelenggaraan RUPS Summary of the Minutes
Announcement of the GMS The GMS is attended of the GMS containing The minutes of the GMS
to shareholders must be Summons to shareholders by Shareholders or the agreed resolutions contain resolutions that
made no later than 14 must be made no later than representatives of submitted to the have been agreed upon
(fourteen) days before the 21 (twenty-one) days before Shareholders registered in Shareholders and ratified by a notary
summons for the GMS. the date of the GMS. the Shareholder Register. and are submitted to the
Shareholders.
Ketentuan Kuorum dan Pengambilan Quorum and Decision-Making Provisions
Keputusan
Kuorum kehadiran dalam RUPS diatur dalam Anggaran Dasar The attendance quorum for a GMS is regulated in the Company’s
Perseroan. RUPS dinyatakan kuorum apabila jumlah kehadiran Articles of Association. A GMS is considered a quorum if the
sesuai dengan ketentuan yang disyaratkan dalam Undang- number of attendees meets the requirements of the Limited
Undang Perseroan Terbatas. Pengambilan keputusan dalam RUPS Liability Company Law. Decisions at the GMS are made
dilakukan melalui musyawarah untuk mufakat dan dianggap sah through deliberation to reach consensus and are considered
apabila disetujui oleh sebagian hak suara yang hadir, sesuai valid if approved by a majority of the voting rights present, in
dengan ketentuan peraturan yang berlaku dan Anggaran Dasar accordance with applicable regulations and the Company’s
Perseroan, dengan prosedur yang transparan dan adil. Articles of Association, using transparent and fair procedures.
Apabila musyawarah untuk mufakat tidak menghasilkan In the event that deliberation to reach consensus fails to produce
kesepakatan, keputusan diambil berdasarkan suara terbanyak an agreement, decisions are made by majority vote, with a
dengan mensyaratkan jumlah suara setuju yang lebih besar. requirement for a greater number of affirmative votes. The
Hasil RUPS dicatat oleh Sekretaris Perusahaan, dan Notaris Corporate Secretary records the GMS results, and a Notary
menyusun Risalah RUPS untuk setiap Pelaksanaan RUPS. Risalah creates the GMS Minutes for each GMS. These minutes must be
tersebut harus didokumentasikan dan disimpan oleh Sekretaris documented and retained by the Corporate Secretary.
Perusahaan.
PT Pertamina Geothermal Energy Tbk
Page 266
264 Laporan Tahunan 2025 | 2025 Annual Report
Mekanisme Penghitungan Suara Dalam Vote Counting Mechanism at the GMS
RUPS
Penghitungan suara dalam RUPS dilakukan melalui mekanisme Vote counting at the GMS is conducted through an electronic
e-voting dan divalidasi oleh Biro Administrasi Efek (BAE) voting mechanism and validated by the Company’s Securities
Perseroan yaitu PT Datindo Entrycom. Administration Bureau (BAE), PT Datindo Entrycom.
Pelaksanaan RUPS Tahun 2025 Implementation of the 2025 GMS
RUPS Tahunan Annual GMS
Perseroan telah menyelenggarakan RUPS Tahunan sesuai The Company has held an Annual GMS in accordance with the
Anggaran Dasar dan Undang-Undang Articles of Association and the Law.
Tanggal dan Waktu 03 Juni 2025, pukul 14.12 WIB
Date and Time 03 June 2025, at 2:12 PM WIB
Tempat Ballroom Aryanusa Menara Danareksa,
Place Jl. Medan Merdeka Selatan No. 14, Gambir, Jakarta Pusat
Kuorum Pemegang Saham yang hadir dan/atau diwakili dalam Rapat ini berjumlah 40.029.594.829
lembar saham atau mewakili 96,4382084% dari seluruh saham yang telah dikeluarkan dalam
Perseroan dengan hak suara yang sah sejumlah 41.508.024.148 lembar saham.
Quorum Shareholders present and/or represented at this Meeting amounted to 40,029,594,829
shares, representing 96.4382084% of all shares issued in the Company with valid voting rights
amounting to 41,508,024,148 shares.
Pimpinan RUPST RUPS dipimpin oleh Komisaris berdasarkan Surat Keputusan Dewan Komisaris
Nomor Kpts-005/DK/PGE/2025-S0 tanggal 29 April 2025.
Chairman of the GMS The GMS is chaired by the Commissioner based on the Decree of the Board of Commissioners
Number Kpts-005/DK/PGE/2025-S0 dated 29 April 2025.
Pihak Independen yang melakukan penghitungan Perseroan telah menunjuk pihak independen yaitu Biro Administrasi Efek PT Datindo Entrycom
kuorum dan pemungutan suara Keputusan RUPST dan Kantor Notaris Ir. Nanette Cahyanie Handari Adi Warsito, SH untuk melakukan
penghitungan suara dan/atau melakukan validasi dalam Rapat.
Independent Party that counts the quorum and The Company has appointed independent parties, namely the Securities Administration Bureau
votes on the AGMS Resolutions PT Datindo Entrycom and the Notary Office of Ir. Nanette Cahyanie Handari Adi Warsito, SH
to conduct vote counting and/or validate the Meeting.
Jumlah pemegang saham yang mengajukan Terdapat penanya dengan detail sebagai berikut:
pertanyaan dan/atau memberikan pendapat 1. Mata Acara Pertama: 1 penanya
dalam RUPST 2. Mata Acara Keenam: 1 penanya
3. Mata Acara Ketujuh: 1 penanya
Number of shareholders who raised questions There were questioners with the following details:
and/or gave opinions at the GMS 1. First Agenda: 1 questioner
2. Sixth Agenda: 1 questioner
3. Seventh Agenda: 1 questioner
Mekanisme Pengambilan Keputusan RUPST Pengambilan keputusan dalam RUPS dilakukan berdasarkan musyawarah untuk mufakat dan
dianggap sah apabila disetujui oleh sebagian hak suara yang hadir.
AGMS Decision-Making Mechanism Decision-making in the GMS is carried out based on deliberation to reach consensus and is
considered valid if approved by a majority of the voting rights present.
PT Pertamina Geothermal Energy Tbk
Page 267
Laporan Tahunan 2025 | 2025 Annual Report 265
Tahapan Pelaksanaan RUPS Tahunan
Stages of the Annual GMS Implementation
Kegiatan Tanggal Pelaksanaan
Media
Activity Implementation Date
1. Pengumuman RUPS kepada Pemegang Saham 24 April 2025 • Situs web PGE
• Sarana pelaporan elektronik OJK (IDX net)
• eASY.KSEI
Announcement of the GMS to Shareholders • PGE website
• OJK electronic reporting facility (IDX net)
• eASY.KSEI
2. Pemanggilan RUPS kepada Pemegang Saham 9 Mei 2025 • Situs web PGE
• Sarana pelaporan elektronik OJK (IDX net)
• eASY.KSEI
GMS Summons to Shareholders 9 May 2025 • PGE website
• OJK electronic reporting facility (IDX net)
• eASY.KSEI
3. Pelaksanaan RUPS 3 Juni 2025 -
GMS Implementation 3 June 2025
4. Pengumuman Ringkasan Risalah RUPS 5 Juni 2025 • Situs web PGE
• Sarana pelaporan elektronik OJK (IDX net)
• eASY.KSEI
Announcement of Summary of Minutes of the GMS 5 June 2025 • PGE website
• OJK electronic reporting facility (IDX net)
• eASY.KSEI
5. Risalah RUPS 26 Juni 2025 Sarana pelaporan elektronik OJK (IDX net)
Minutes of the GMS 26 June 2025 OJK electronic reporting facility (IDX net)
Kehadiran Pada RUPS Tahunan Attendance at the Annual GMS
RUPS Tahunan dihadiri oleh seluruh anggota Dewan Komisaris The Annual General Meeting of Shareholders was attended by
dan Direksi dengan rekapitulasi sebagai berikut: all members of the Board of Commissioners and the Board of
Directors, with the following recapitulation:
Dewan Komisaris
Board of Commissioners
Nama Jabatan Kehadiran
Name Position Attendance
Komisaris Independen
Abdulla Zayed √
Independent Commissioner
Komisaris Independen
Abdul Musawir Yahya √
Independent Commissioner
Komisaris
John Anis √
Commissioner
Komisaris
Gigih Udi Atmo √
Commissioner
Direksi
Board of Directors
Nama Jabatan Kehadiran
Name Position Attendance
Direktur Utama
Julfi Hadi √
President Director
Direktur Eksplorasi & Pengembangan
Edwil Suzandi √
Director of Exploration & Development
Direktur Operasi
Ahmad Yani √
Director of Operation
Direktur Keuangan
Yurizki Rio √
Director of Finance
PT Pertamina Geothermal Energy Tbk
Page 268
266 Laporan Tahunan 2025 | 2025 Annual Report
Keputusan dan Realisasi RUPS Tahunan Resolutions and Realization of the Annual
GMS
RUPST – Mata Acara 1
Persetujuan dan Pengesahan Laporan Tahunan termasuk Laporan Keuangan Konsolidasian Perseroan serta Laporan Tugas
Pengawasan Dewan Komisaris untuk tahun buku yang berakhir 31 Desember 2024, disertai Pemberian Pelunasan dan
Pembebasan Tanggung Jawab Sepenuhnya (volledig acquit et de charge) kepada Dewan Komisaris dan Direksi Perseroan.
AGMS – Agenda 1
Approval and Ratification of the Annual Report, including the Company's Consolidated Financial Statements and the Board of Commissioners' Supervisory
Report for the financial year ending December 31, 2024, along with the granting of a full release and discharge (volledig acquit et de charge) to the
Company's Board of Commissioners and Board of Directors.
Hasil Pemungutan Suara Setuju Abstain Tidak Setuju
Voting Results In favor Against
40.008.322.629 21.227.800 44.400
suara | votes suara | votes suara | votes
(99,9468588%) (0,0530303%) (0,0001109%)
Keputusan Rapat 1. Menyetujui Laporan Tahunan Perseroan Tahun Buku 2024 termasuk Laporan Tugas Pengawasan Dewan Komisaris
Meeting Resolutions Tahun Buku 2024.
2. Mengesahkan Laporan Keuangan Konsolidasian Perseroan untuk Tahun Buku 2024 oleh Kantor Akuntan
Publik Purwantono, Sungkoro & Surja (KAP PSS) sebagaimana termuat dalam Laporan No. 00321/2.1032/
AU.1/02/1726-4/1/III/2025 tanggal 24 Maret 2025 dengan opini bahwa “Laporan keuangan konsolidasian
menyajikan secara wajar dalam semua hal yang material, posisi keuangan konsolidasian Grup tanggal 31
Desember 2024, serta kinerja keuangan dan arus kas konsolidasiannya untuk tahun yang berakhir pada tanggal
tersebut, sesuai dengan Standar Akuntansi Keuangan di Indonesia”.
3. Memberikan pelunasan dan pembebasan tanggung jawab sepenuhnya (volledig acquit et de-charge) kepada
Dewan Komisaris dan Direksi Perseroan, sepanjang tindakan-tindakan tersebut tercermin dalam Laporan Tahunan
Tahun Buku 2024 dan Laporan Keuangan Konsolidasian Perseroan Tahun Buku 2024, dan bukan merupakan
tindak pidana atau melanggar ketentuan peraturan perundang-undangan yang berlaku.
1. Approved the Company's Annual Report for the 2024 Financial Year, including the Board of Commissioners'
Supervisory Report for the 2024 Financial Year.
2. Ratified the Company's Consolidated Financial Statements for the 2024 Financial Year by the Public Accounting
Firm Purwantono, Sungkoro & Surja (KAP PSS) as contained in Report No. 00321/2.1032/AU.1/02/1726-4/1/
III/2025 dated 24 March 2025, with the opinion that "The consolidated financial statements present fairly, in all
material respects, the Group's consolidated financial position as of December 31, 2024, and its consolidated
financial performance and cash flows for the year then ended, in accordance with Indonesian Financial Accounting
Standards."
3. Granting full release and discharge (volledig acquit et de-charge) to the Company's Board of Commissioners and
Directors, provided that these actions are reflected in the Company's Annual Report for the 2024 Financial Year
and the Company's Consolidated Financial Statements for the 2024 Financial Year and do not constitute a criminal
offense or violate any applicable laws and regulations.
Realisasi/Tindak Lanjut Terealisasi
Realization/Follow-up Realized
Pemegang saham menerima pertanggungjawaban laporan kinerja, Laporan Tahunan, Laporan Keuangan, dan
memberikan pelunasan dan pembebasan tanggung jawab sepenuhnya (volledig acquit et decharge) kepada Direksi
dan Dewan Komisaris untuk tahun buku 2024 yang disahkan dengan akta Berita Acara Rapat Umum Pemegang
Saham Tahunan PT Pertamina Geothermal Energy Tbk oleh Notaris Ir. Nanette Cahyanie Handari Adi Warsito, S.H
No. 17 tanggal 3 Juni 2025.
Shareholders accept the accountability of the performance report, Annual Report, Financial Statement, and provide
full release and discharge of responsibility (volledig acquit et decharge) to the Board of Directors and Board of
Commissioners for the 2024 financial year as ratified by the deed of Minutes of the Annual General Meeting of
Shareholders of PT Pertamina Geothermal Energy Tbk by Notary Ir. Nanette Cahyanie Handari Adi Warsito, S.H No.
17, dated 3 June 2025.
PT Pertamina Geothermal Energy Tbk
Page 269
Laporan Tahunan 2025 | 2025 Annual Report 267
RUPST – Mata Acara 2
Persetujuan Penetapan Penggunaan Laba Bersih Perseroan Tahun Buku 2024
AGMS – Agenda 2
Approval of the Determination of the Use of the Company’s Net Profit for the 2024 Financial Year
Hasil Pemungutan Suara Setuju Abstain Tidak Setuju
Voting Results In favor Against
40.007.997.873 21.469.800 127.156
suara | votes suara | votes suara | votes
(99,9460475%) (0,0536348%) (0,0003177%)
Keputusan Rapat Menetapkan Penggunaan laba bersih Perseroan Tahun Buku 2024 sebagai berikut:
Meeting Resolutions 1. Sebesar USD136.400.000 (seratus tiga puluh enam juta empat ratus ribu Dollar Amerika Serikat) atau 85% dari
laba bersih Perseroan yang dapat diatribusikan kepada pemilik entitas induk Tahun Buku 2024 dibagikan sebagai
dividen tunai kepada Pemegang Saham Perseroan dengan ketentuan sebagai berikut:
A. Diberikan kepada pemegang saham sesuai dengan porsi kepemilikannya pada tanggal pencatatan (recording
date), dan dibayarkan secara tunai dalam mata uang Rupiah dengan menggunakan nilai tukar kurs tengah
Bank Indonesia sesuai tanggal per 31 Desember 2024.
B. Memberikan kuasa dan wewenang kepada Direksi Perseroan dengan hak substitusi untuk menetapkan jadwal
dan tata cara pembagian dividen tahun buku 2024 sesuai ketentuan yang berlaku.
2. Sebesar USD24.094.552 (dua puluh empat juta sembilan puluh empat ribu lima ratus lima puluh dua Dollar
Amerika Serikat) atau 15% dari Laba Bersih Perseroan yang dapat diatribusikan kepada pemilik entitas induk
Tahun Buku 2024 dialokasikan dan dibukukan sebagai Cadangan Wajib.
3. Perseroan tidak mengalokasikan sisa laba bersih tahun buku 2024 untuk cadangan lainnya.
Determined the use of the Company’s net profit for the 2024 Financial Year as follows:
1. An amount of USD 136,400,000 (one hundred thirty-six million four hundred thousand United States Dollars), or
85% of the Company’s net profit attributable to owners of the parent entity for the 2024 Financial Year, will be
distributed as cash dividends to the Company’s Shareholders with the following provisions:
A. To be distributed to shareholders in accordance with their ownership portion on the recording date and to be
paid in cash in Rupiah using Bank Indonesia’s middle exchange rate as of 31 December 2024.
B. To grant the Company’s Board of Directors the power and authority, with the right of substitution, to determine
the schedule and procedures for the distribution of dividends for the 2024 Financial Year in accordance with
applicable regulations.
2. An amount of USD 24,094,552 (twenty-four million ninety-four thousand five hundred fifty-two United States
Dollars), or 15% of the Company’s Net Profit attributable to owners of the parent entity for the 2024 Financial Year,
is allocated and recorded as a Statutory Reserve.
3. The Company does not allocate the remaining net profit for the 2024 Financial Year for other reserves.
Realisasi/Tindak Lanjut Terealisasi
Realization/Follow-up Realized
Pembagian dividen telah terealisasi pada tanggal 4 Juli 2025.
Dividend distribution was realized on 4 July 2025.
RUPST – Mata Acara 3
Persetujuan Penunjukan Akuntan Publik untuk melakukan audit terhadap Perseroan Tahun Buku 2025
AGMS – Agenda 3
Approval of the Appointment of a Public Accountant to conduct an audit of the Company for the 2025 Financial Year
Hasil Pemungutan Suara Setuju Abstain Tidak Setuju
Voting Results In favor Against
39.740.283.773 21.267.800 268.043.256
suara | votes suara | votes suara | votes
(99,2772571 %) (0,0531302%) (0,6696127%)
Keputusan Rapat Memberikan pelimpahan wewenang kepada Dewan Komisaris Perseroan dengan sebelumnya mendapatkan
Meeting Resolutions persetujuan dari Pemegang Saham Pengendali Perseroan untuk:
1. Menunjuk Kantor Akuntan Publik (KAP) dalam melakukan pemeriksaan atas Laporan Keuangan Konsolidasi
Perseroan (PT Pertamina Geothermal Energy Tbk dan Anak Perusahaan) periode tahun buku 2025 berikut besaran
nilai jasanya, sesuai ketentuan dan peraturan yang berlaku.
2. Menunjuk KAP pengganti dalam hal KAP dimaksud karena sebab apapun tidak dapat menyelesaikan audit Laporan
Keuangan Konsolidasi Perseroan (PT Pertamina Geothermal Energy Tbk dan Anak Perusahaan) periode tahun buku
2025, termasuk menetapkan imbalan jasa audit dan persyaratan lainnya bagi KAP pengganti tersebut.
3. Dewan Komisaris agar melakukan evaluasi atas kinerja KAP periode tahun buku 2025.
4. Memastikan bahwa seluruh proses tersebut di atas dikonsultasikan dengan PT Pertamina (Persero) dan
PT Pertamina Power Indonesia.
PT Pertamina Geothermal Energy Tbk
Page 270
268 Laporan Tahunan 2025 | 2025 Annual Report
RUPST – Mata Acara 3
Persetujuan Penunjukan Akuntan Publik untuk melakukan audit terhadap Perseroan Tahun Buku 2025
AGMS – Agenda 3
Approval of the Appointment of a Public Accountant to conduct an audit of the Company for the 2025 Financial Year
Granting the delegation of authority to the Company’s Board of Commissioners, with prior approval from the Company’s
Controlling Shareholders, to:
1. Appoint a Public Accounting Firm (KAP) to audit the Company’s (PT Pertamina Geothermal Energy Tbk and
Subsidiaries) Consolidated Financial Statements for the 2025 financial year, including the amount of its services, in
accordance with applicable provisions and regulations.
2. Appoint a replacement KAP if, for any reason, the KAP is unable to complete the audit of the Company’s
(PT Pertamina Geothermal Energy Tbk and Subsidiaries) Consolidated Financial Statements for the 2025 financial
year, including determining the audit fee and other requirements for the replacement KAP.
3. The Board of Commissioners is to evaluate the KAP’s performance for the 2025 financial year.
4. Ensure that all of the above processes are consulted with PT Pertamina (Persero) and PT Pertamina Power Indonesia.
Realisasi/Tindak Lanjut Terealisasi
Realization/Follow-up Realized
Persetujuan penunjukan AP dan Kantor Akuntan Publik (KAP) Purwantono Susanti dan Surja (Ernst & Young) pada
tanggal 11 November 2025 dalam Rangka Audit atas Laporan Keuangan Konsolidasian PT Pertamina Geothermal
Energy Tbk Periode Tahun Buku 2025.
Approval of the appointment of AP and Public Accounting Firm (KAP) Purwantono Susanti and Surja (Ernst & Young)
on 11 November 2025 for the Audit of the Consolidated Financial Statements of PT Pertamina Geothermal Energy Tbk
for the 2025 Financial Year Period.
RUPST – Mata Acara 4
Persetujuan Penetapan Remunerasi, Tunjangan, dan Fasilitas Lainnya untuk Tahun Buku 2025, dan penghargaan atas
Kinerja (Tantiem) Tahun Buku 2024 untuk Dewan Komisaris dan Direksi Perseroan.
AGMS – Agenda 4
Approval of the Determination of Remuneration, Allowances, and Other Facilities for the 2025 Financial Year and Tantiem for the 2024 Financial Year for
the Company’s Board of Commissioners and Board of Directors.
Hasil Pemungutan Suara Setuju Abstain Tidak Setuju
Voting Results In favor Against
40.004.283.873 21.513.200 3.797.756
suara | votes suara | votes suara | votes
(99,9367694%) (0,0537432%) (0,0094874%)
Keputusan Rapat 1. Memberikan wewenang dan kuasa kepada Dewan Komisaris dengan terlebih dahulu mendapatkan persetujuan
Meeting Resolutions pemegang saham pengendali Perseroan yaitu PT Pertamina Power Indonesia untuk menetapkan honorarium,
tunjangan, dan fasilitas lainnya bagi anggota Dewan Komisaris dan Direksi Perseroan untuk tahun 2025.
2. Memberikan wewenang dan kuasa kepada Dewan Komisaris dengan terlebih dahulu mendapatkan persetujuan
pemegang saham pengendali Perseroan yaitu PT Pertamina Power Indonesia untuk menetapkan tantiem bagi
Dewan Komisaris dan Direksi Perseroan untuk kinerja tahun 2024.
1. Granting authority and power to the Board of Commissioners, with prior approval from the Company’s controlling
shareholder, PT Pertamina Power Indonesia, to determine the honorarium, allowances, and other facilities for
members of the Board of Commissioners and Board of Directors for 2025.
2. Granting authority and power to the Board of Commissioners, with prior approval from the Company’s controlling
shareholder, PT Pertamina Power Indonesia, to determine the tantiem for the Board of Commissioners and Board of
Directors for 2024 performance.
Realisasi/Tindak Lanjut Terealisasi
Realization/Follow-up Realized
Persetujuan penetapan remunerasi, tunjangan, dan fasilitas lainnya untuk tahun buku 2025, dan penghargaan atas
kinerja (tantiem) tahun buku 2024 untuk Dewan Komisaris dan Direksi Perseroan.
Approval of the determination of remuneration, allowances, and other facilities for the 2025 financial year and tantiem
for the 2024 financial year for the Company’s Board of Commissioners and Board of Directors.
PT Pertamina Geothermal Energy Tbk
Page 271
Laporan Tahunan 2025 | 2025 Annual Report 269
RUPST – Mata Acara 5
Laporan Realisasi Penggunaan Dana IPO Perseroan
AGMS – Agenda 5
Report on the Realization of the Use of the Company’s IPO Proceeds
Hasil Pemungutan Suara Tidak terdapat pemungutan suara
Voting Results There is no voting
Keputusan Rapat Sehubungan Mata Acara Rapat Kelima ini bersifat laporan yaitu Laporan Realisasi Penggunaan Dana Hasil IPO
Meeting Resolutions Perseroan untuk periode yang berakhir pada tanggal 31 Desember 2024, maka tidak diperlukan pengambilan
keputusan.
Considering the Fifth Meeting Agenda is a report in nature, namely, the Report on the Realization of the Use of Proceeds
from the Company’s IPO for the period ending on 31 December 2024, no decision is required.
Realisasi/Tindak Lanjut Terealisasi
Realization/Follow-up Realized
Keterbukaan Informasi perihal Laporan Penggunaan Dana Hasil Penawaran Umum dengan Nomor Surat
151/PGE300/2025-S0 tanggal 15 Juli 2025.
Disclosure of Information regarding the Report on the Use of Proceeds from the Public Offering with Letter Number
151/PGE300/2025-S0 dated 15 July 2025.
RUPST – Mata Acara 6
Laporan Pelaksanaan Program (MESOP) dan Persetujuan Pemberian Kuasa kepada Dewan Komisaris Perseroan untuk
Meningkatkan Modal Disetor dan Ditempatkan secara penuh dalam Rangka Pelaksanaan Program MESOP.
AGMS – Agenda 6
Report on the Implementation of the MESOP Program and Approval of the Granting of Power of Attorney to the Company’s Board of Commissioners to
Increase the Paid-Up and Issued Capital in Full for the Implementation of the MESOP Program.
Hasil Pemungutan Suara Setuju Abstain Tidak Setuju
Voting Results In favor Against
39.978.737.196 21.470.900 29.386.733
suara | votes suara | votes suara | votes
(99,8729499%) (0,0536376%) (0,0734125%)
Keputusan Rapat 1. Memberikan pelimpahan wewenang kepada Dewan Komisaris Perseroan untuk melakukan segala tindakan yang
Meeting Resolutions diperlukan dan/atau disyaratkan dalam rangka pelaksanaan, sahnya, serta peningkatan modal ditempatkan dan
disetor penuh sehubungan dengan pelaksanaan Management and Employee Stock Option Program (“MESOP”)
dalam jangka waktu 12 bulan sejak Rapat ini.
2. Memberikan pelimpahan wewenang kepada Dewan Komisaris Perseroan untuk memberikan pengarahan kepada
Direksi Perseroan dalam rangka mengatur kebijakan terkait Program MESOP, termasuk dan tidak terbatas pada
periode pelaksanaan program MESOP, total jumlah saham yang diterbitkan untuk MESOP, harga pelaksanaan,
dan ketentuan-ketentuan lainnya terkait program MESOP sebagaimana tercantum dalam prospektus dengan
memperhatikan ketentuan peraturan yang berlaku di bidang pasar modal.
3. Memberikan kuasa dengan hak substitusi kepada Direksi Perseroan untuk melakukan segala tindakan yang
berhubungan dengan keputusan Rapat ini, termasuk namun tidak terbatas untuk menuangkannya dalam akta
notaris, menghadap pihak berwenang, mengadakan pembicaraan, memberi dan/atau meminta keterangan,
mengajukan permohonan persetujuan dan/atau pelaporan dan/atau pemberitahuan atas perubahan Anggaran
Dasar Perseroan kepada Menteri Hukum dan Hak Asasi Manusia Republik Indonesia maupun instansi berwenang
terkait lainnya, membuat atau menandatangani akta pernyataan keputusan Rapat Perseroan, serta melaksanakan
hal-hal lain yang harus dan/atau dapat dijalankan sehubungan dengan pelaksanaan keputusan Rapat.
1. Delegating authority to the Company’s Board of Commissioners to take all necessary and/or required actions for
the implementation, validity, and increase of issued and fully paid-up capital in connection with the Management
and Employee Stock Option Program (“MESOP”) within 12 months since this Meeting.
2. Delegating authority to the Company’s Board of Commissioners to provide direction to the Company’s Board of
Directors in regulating policies related to the MESOP Program, including but not limited to the MESOP program
implementation period, the total number of shares issued for the MESOP, the exercise price, and other provisions
related to the MESOP program as stated in the prospectus, considering applicable capital market regulations.
3. Granting power of attorney with the right of substitution to the Company’s Board of Directors to carry out all actions
related to the resolutions of this Meeting, including but not limited to setting them out in a notarial deed, appearing
before the authorities, holding discussions, giving and/or requesting information, submitting requests for approval
and/or reporting and/or notification of changes to the Company’s Articles of Association to the Minister of Law
and Human Rights of the Republic of Indonesia or other relevant authorities, making or signing a deed of statement
of the resolutions of the Company’s Meeting, and carrying out other matters that must and/or can be carried out in
connection with the implementation of the resolutions of the Meeting.
Realisasi/Tindak Lanjut Terealisasi
Realization/Follow-up Realized
Akta Pernyataan Rapat Umum Pemegang Saham PT Pertamina Geothermal Energy Tbk oleh Notaris Ir. Nanette
Cahyanie Handari Adi Warsito, S.H No. 34 tanggal 16 Juni 2025.
Deed of Statement of General Meeting of Shareholders of PT Pertamina Geothermal Energy Tbk by Notary Ir. Nanette
Cahyanie Handari Adi Warsito, S.H No. 34 dated 16 June 2025.
PT Pertamina Geothermal Energy Tbk
Page 272
270 Laporan Tahunan 2025 | 2025 Annual Report
RUPST – Mata Acara 7
Persetujuan Perubahan Anggaran Dasar Perseroan
AGMS – Agenda 7
Approval of Amendments to the Company’s Articles of Association
Hasil Pemungutan Suara Setuju Abstain Tidak Setuju
Voting Results In favor Against
40.008.321.529 21.228.900 44.400
suara | votes suara | votes suara | votes
(99,9468561 %) (0,0530330%) (0,0001109%)
Keputusan Rapat 1. Menerima dan menyetujui studi kelayakan tentang Rencana Pelaksanaan Kegiatan Usaha Baru Perseroan,
Meeting Resolutions sebagaimana tercantum dalam Laporan Studi Kelayakan yang disusun oleh KJPP Ruky Safrudin dan Rekan (“RSR”):
a. KJPP No. RSR/R/B.150525.01 tanggal 15 Mei 2025 perihal Studi Kelayakan atas Rencana Menjalankan
Kegiatan Usaha Komersialisasi Alat Ukur Fluida Dua Fasa; dan
b. KJPP No. RSR/R/B.150525.02 tanggal 15 Mei 2025 perihal Studi Kelayakan Bisnis atas Rencana Menjalankan
Kegiatan Usaha Jasa Laboratorium.
2. Memberikan kewenangan dan kuasa kepada Direksi Perseroan untuk dapat menjalankan Kegiatan Usaha
Perseroan di bidang Jasa Pengujian Laboratorium dan Industri Alat Uji dalam Proses Industri (KBLI 71202 dan
26514).
3. Menyetujui Perubahan Pasal 15 ayat (6) huruf (j) Anggaran Dasar, sehubungan dengan penambahan kata sewa
pada klausul tersebut menjadi “penjualan, pengalihan, sewa/optimasi (yang tidak akan mencakup pelepasan atau
penghapusbukuan) atas aset atau aset Perseroan (termasuk setiap saham yang dimiliki secara langsung atau tidak
langsung di entitas mana pun) dalam tahun buku apa pun dengan nilai buku lebih dari US$10 juta (sepuluh juta
dollar Amerika Serikat) secara sendiri-sendiri atau secara keseluruhan, kecuali aset tersebut merupakan barang
bergerak dan sedang diganti (yang mungkin termasuk peningkatan terhadap aset bergerak) dan RKAP Tahunan
(sebagaimana diubah dari waktu ke waktu) atau RKAP Yang Disetujui yang berlaku untuk tahun buku tersebut
memuat biaya penggantian aset tersebut.”
4. Menyetujui untuk memberikan kuasa dan wewenang kepada Direksi Perseroan dengan hak substitusi untuk melakukan
segala tindakan yang diperlukan berkaitan dengan keputusan mata acara ketujuh Rapat, termasuk menyusun dan
menyatakan kembali seluruh Anggaran Dasar dalam suatu Akta Notaris dan menyampaikan kepada instansi yang
berwenang untuk mendapatkan persetujuan dan/atau penerimaan pemberitahuan perubahan Anggaran Dasar
Perseroan, melakukan segala sesuatu yang dipandang perlu dan berguna untuk keperluan tersebut dengan tidak
ada satu pun yang dikecualikan, termasuk untuk mengadakan penambahan dan/atau perubahan Anggaran Dasar
Perseroan tersebut jika hal tersebut dipersyaratkan oleh instansi yang berwenang.
1. Accept and approve the feasibility study on the Company’s New Business Activity Implementation Plan, as set out
in the Feasibility Study Report prepared by KJPP Ruky Safrudin and Partners (“RSR”):
a. KJPP No. RSR/R/B.150525.01 dated 15 May 2025, concerning the Feasibility Study on the Plan to Commercialize
Two-Phase Fluid Measuring Instruments; and
b. KJPP No. RSR/R/B.150525.02 dated 15 May 2025, concerning the Business Feasibility Study on the Plan to
Commercialize Laboratory Services.
2. Grant authority and power of attorney to the Company’s Board of Directors to carry out the Company’s Business Activities
in the field of Laboratory Testing Services and Industrial Testing Instruments in Industrial Processes (KBLI 71202 and
26514).
3. Approve the Amendment to Article 15, paragraph (6) letter (j) of the Articles of Association, in relation
to the addition of the word “lease” in the clause to become “sale, transfer, or lease/optimization
(which will not include the disposal or write-off) of the Company’s assets or assets (including any shares
owned directly or indirectly in any entity) in any financial year with a book value of more than USD10
million (ten million United States dollars) individually or in whole, unless the assets are movable goods
and are being replaced (which may include improvements to movable assets) and the Annual RKAP
(as amended from time to time) or the Approved RKAP applicable for the financial year includes the replacement
costs of the assets.”
4. Approval of the granting of power and authority to the Company’s Board of Directors with the right of
substitution to carry out all necessary actions related to the resolutions of the seventh agenda of the Meeting,
including compiling and restating the entire Articles of Association in a Notarial Deed and submitting it
to the authorized agency to obtain approval and/or receipt of notification of changes to the Company’s
Articles of Association, to do everything deemed necessary and useful for such purposes with nothing
being excluded, including making additions and/or changes to the Company’s Articles of Association
if this is required by the authorized agency.
Realisasi/Tindak Lanjut Terealisasi
Realization/Follow-up Realized
Akta Pernyataan Rapat Umum Pemegang Saham PT Pertamina Geothermal Energy Tbk oleh Notaris Ir. Nanette Cahyanie Handari
Adi Warsito, S.H No. 34 tanggal 16 Juni 2025.
Deed of Statement of General Meeting of Shareholders of PT Pertamina Geothermal Energy Tbk by Notary Ir. Nanette Cahyanie
Handari Adi Warsito, S.H No. 34 dated 16 June 2025.
PT Pertamina Geothermal Energy Tbk
Page 273
Laporan Tahunan 2025 | 2025 Annual Report 271
RUPST – Mata Acara 8
Persetujuan Perubahan Pengurus Perseroan
AGMS – Agenda 8
Approval of Changes to the Company’s Management
Hasil Pemungutan Suara Setuju Abstain Tidak Setuju
Voting Results In favor Against
39.476.935.096 21.470.900 531.188.833
suara | votes suara | votes suara | votes
(98,6193722 %) (0,0536376%) (1,3269903 %)
Keputusan Rapat 1. Mengukuhkan pemberhentian dengan hormat Bapak Sarman Simanjorang sebagai Komisaris Utama/Komisaris
Meeting Resolutions Independen Perseroan yang masa jabatannya telah berakhir di tanggal 24 Februari 2025, dengan ucapan terima
kasih atas segala sumbangsih tenaga dan pikiran yang diberikan oleh yang bersangkutan selama menjabat
Komisaris Utama/Komisaris Independen Perseroan.
Confirming the honorable dismissal of Mr. Sarman Simanjorang as the Company’s President Commissioner/
Independent Commissioner, whose term of office has ended on 24 February 2025, with gratitude for all contributions
of energy and thoughts given by the person concerned during his term as President Commissioner/Independent
Commissioner of the Company.
Susunan pengurus Perseroan menjadi sebagai berikut:
The composition of the Company’s management is to be as follows:
Dewan Komisaris
Board of Commissioners
Komisaris Gigih Udi Atmo
President Commissioner
Komisaris John Anis
President Commissioner
Komisaris Independen Abdul Musawir Yahya
Independent Commissioner
Komisaris Independen Abdulla Zayed
Independent Commissioner
Direksi
Board of Directors
Direktur Utama Jufli Hadi
President Director
Direktur Eksplorasi & Pengembangan Edwil Suzandi
Director of Exploration & Development
Direktur Operasi Ahmad Yani
Director of Operation
Direktur Keuangan Yurizki Rio
Director of Finance
2. Menyetujui memberi wewenang dan kuasa dengan hak substitusi kepada Direksi Perseroan untuk melakukan
segala tindakan sehubungan dengan pergantian pengurus Perseroan tersebut, termasuk tetapi tidak terbatas untuk
membuat dan/atau meminta untuk dibuatkan dan menandatangani segala akta, sehubungan dengan pergantian
pengurus Perseroan tersebut serta memberitahukan perubahan data Perseroan kepada Menteri Hukum dan Hak
Asasi Manusia Republik Indonesia.
Approval of the granting of authority and power with the right of substitution to the Company’s Board of Directors
to carry out all actions in connection with the change of the Company’s management, including but not limited to
making and/or requesting the making and signing of all deeds in connection with the change of the Company’s
management and notifying the Minister of Law and Human Rights of the Republic of Indonesia of changes in the
Company’s data.
Realisasi/Tindak Lanjut Terealisasi
Realization/Follow-up Realized
Penutupan RUPST 3 Juni 2025 disahkan dengan akta Notaris Ir. Nanette Cahyanie Handari Adi Warsito, S.H
No. 33 tanggal 16 Juni 2025.
The closing of the AGMS on 3 June 2025 was ratified by deed of Notary Ir. Nanette Cahyanie Handari Adi Warsito,
S.H. No. 33 dated 16 June 2025.
PT Pertamina Geothermal Energy Tbk
Page 274
272 Laporan Tahunan 2025 | 2025 Annual Report
RUPS Luar Biasa (RUPSLB) Extraordinary GMS (EGMS)
Selama tahun 2025, Perseroan telah menyelenggarakan RUPSLB In 2025, the Company held 1 (one) EGMS on 20 August 2025.
sebanyak 1 (satu) kali pada tanggal 20 Agustus 2025.
Tanggal dan Waktu 20 Agustus 2025 / Pukul 14.38 WIB
Date and Time 20 August 2025 / 2:38 PM WIB
Mekanisme Pelaksanaan RUPS Secara fisik dan elektronik.
GMS Implementation Mechanism Physically and electronically
Tempat Pertamax Tower lt.9, Grha Pertamina, Jl. Medan Merdeka Timur No.11-13, Jakarta Pusat.
Place
Kuorum Pemegang Saham yang hadir dan/atau diwakili dalam Rapat ini berjumlah 39.601.809.153
lembar saham atau mewakili 95,4075988% dari seluruh saham yang telah dikeluarkan dalam
Perseroan dengan hak suara yang sah sejumlah 41.508.024.149 lembar saham.
Quorum Shareholders present and/or represented at this Meeting amounted to 39,601,809,153 shares,
representing 95.4075988% of all shares issued in the Company with valid voting rights amounting
to 41,508,024,149 shares.
Pimpinan RUPS Komisaris berdasarkan Surat Keputusan Dewan Komisaris Nomor Kpts-007/DK/PGE/2025-S0
tanggal 05 Agustus 2025.
Chairman of the GMS Commissioner based on the Decree of the Board of Commissioners Number Kpts-007/DK/
PGE/2025-S0 dated 5 August 2025.
Pihak Independen yang melakukan penghitungan Perseroan telah menunjuk pihak independen yaitu Biro Administrasi Efek PT Datindo Entrycom dan
kuorum dan pemungutan suara Keputusan RUPST Kantor Notaris Ir. Nanette Cahyanie Handari Adi Warsito, SH untuk melakukan penghitungan
suara dan/atau melakukan validasi dalam Rapat.
Independent Party that counts the quorum and The Company has appointed independent parties, namely the Securities Administration Bureau
votes on the AGMS Resolutions PT Datindo Entrycom and the Notary Office of Ir. Nanette Cahyanie Handari Adi Warsito, SH,
to conduct vote counting and/or validate the Meeting.
Jumlah pemegang saham yang mengajukan Tidak ada pertanyaan dan/atau pendapat dari pemegang saham atas setiap mata acara RUPS.
pertanyaan dan/atau memberikan pendapat
dalam RUPST
Number of shareholders who raised questions There were no questions and/or opinions from shareholders on any agenda items of the GMS.
and/or gave opinions at the AGMS
Mekanisme Pengambilan Keputusan RUPST Pengambilan keputusan dalam RUPS dilakukan berdasarkan musyawarah untuk mufakat dan
dianggap sah apabila disetujui oleh sebagian hak suara yang hadir.
AGMS Decision-Making Mechanism Decision-making in the GMS is carried out based on deliberation to reach consensus and
is considered valid if approved by a majority of the voting rights present.
Keputusan dan Realisasi RUPSLB EGMS Resolution and Realizations
RUPSLB – Mata Acara
Perubahan Pengurus Perseroan
EGMS – Agenda
Changes to the Company’s Management
Hasil Pemungutan Suara Setuju Abstain Tidak Setuju
Voting Results In favor Against
39.363.737.746 49.462.525 188.608.882
suara | votes suara | votes suara | votes
(99,3988370%) (0,1248997%) (0,4762633%)
PT Pertamina Geothermal Energy Tbk
Page 275
Laporan Tahunan 2025 | 2025 Annual Report 273
RUPSLB – Mata Acara
Perubahan Pengurus Perseroan
EGMS – Agenda
Changes to the Company’s Management
Keputusan Rapat 1. Mengalihkan penugasan Bapak Gigih Udi Atmo semula Komisaris menjadi Komisaris Utama terhitung sejak
ditutupnya Rapat ini, untuk melanjutkan periode jabatan yang sebelumnya telah diangkat berdasarkan Keputusan
RUPSLB tanggal 31 Juli 2024, sesuai dengan ketentuan Anggaran Dasar Perseroan tanpa mengurangi hak RUPS
untuk memberhentikan sewaktu-waktu.
2. Mengangkat Bapak Mohammad Firmansyah sebagai Komisaris Independen Terhitung sejak ditutupnya Rapat ini,
untuk satu kali periode jabatan sesuai dengan ketentuan Anggaran Dasar Perseroan tanpa mengurangi Hak RUPS
untuk memberhentikan sewaktu-waktu.
3. Mengalihkan penugasan Bapak Abdulla Zayed semula Komisaris Independen menjadi Komisaris terhitung sejak
ditutupnya Rapat ini, untuk melanjutkan periode jabatan yang sebelumnya telah diangkat berdasarkan Keputusan
RUPST tanggal 28 Mei 2024, sesuai dengan ketentuan Anggaran Dasar Perseroan tanpa mengurangi hak RUPS
untuk memberhentikan sewaktu-waktu.
4. Sehubungan dengan adanya perubahan Pengurus Perseroan sebagaimana dimaksud pada angka 1, 2, dan 3,
maka susunan Pengurus Perseroan menjadi sebagai berikut:
Meeting Resolutions 1. Reassign Mr. Gigih Udi Atmo, initially a Commissioner, to the position of President Commissioner effective
as of the closing of this Meeting, to continue his term of office, previously appointed based on the Resolution
of the Extraordinary General Meeting of Shareholders dated 31 July 2024, in accordance with the provisions
of the Company’s Articles of Association, without prejudice to the right of the GMS to dismiss him at any time.
2. Appoint Mr. Mohammad Firmansyah as an Independent Commissioner effective as of the closing of this Meeting
for one term of office in accordance with the provisions of the Company’s Articles of Association, without prejudice
to the right of the GMS to dismiss him at any time.
3. Reassign Mr. Abdulla Zayed, initially an Independent Commissioner, to the position of Commissioner effective
as of the closing of this Meeting, to continue his term of office, previously appointed based on the Resolution
of the Extraordinary General Meeting of Shareholders dated 28 May 2024, in accordance with the provisions
of the Company’s Articles of Association, without prejudice to the right of the GMS to dismiss him at any time.
4. With regard to the changes in the Company’s Management as referred to in points 1, 2, and 3, the composition
of the Company’s Management is to be as follows:
Dewan Komisaris
Board of Commissioners
Komisaris Utama
Gigih Udi Atmo
President Commissioner
Komisaris
John Eusebius Iwan Anis
President Commissioner
Komisaris Independen
Mohammad Firmansyah
Independent Commissioner
Komisaris Independen
Abdul Musawir Yahya
Independent Commissioner
Komisaris
Abdulla Zayed
Commissioner
Direksi
Board of Directors
Direktur Utama
Julfi Hadi
President Director
Direktur Eksplorasi & Pengembangan
Edwil Suzandi
Director of Exploration & Development
Direktur Operasi
Ahmad Yani
Director of Operation
Direktur Keuangan
Yurizki Rio
Director of Finance
5. Menyetujui memberi wewenang dan kuasa dengan hak substitusi kepada Direksi Perseroan untuk melakukan
segala tindakan sehubungan dengan pergantian pengurus Perseroan tersebut, termasuk tetapi tidak terbatas untuk
membuat dan/atau meminta untuk dibuatkan dan menandatangani segala akta, sehubungan dengan pergantian
pengurus Perseroan tersebut serta memberitahukan perubahan data Perseroan kepada Menteri Hukum dan Hak
Asasi Manusia Republik Indonesia.
Approval of the granting of authority and power with the right of substitution to the Company’s Board of Directors
to carry out all actions in connection with the change of the Company’s management, including but not limited
to making and/or requesting the making and signing of all deeds with regard to the change of the Company’s
management and notifying the Minister of Law and Human Rights of the Republic of Indonesia of changes
in the Company’s data.
PT Pertamina Geothermal Energy Tbk
Page 276
274 Laporan Tahunan 2025 | 2025 Annual Report
RUPSLB – Mata Acara
Perubahan Pengurus Perseroan
EGMS – Agenda
Changes to the Company’s Management
Realisasi/Tindak Lanjut Terealisasi
Realization/Follow-up Realized
Penutupan RUPST 20 Agustus 2025 disahkan dengan akta Notaris Ir. Nanette Cahyanie Handari Adi Warsito, S.H
No. 33 tanggal 28 Agustus 2025.
The closing of the AGMS on 20 August 2025 was ratified by deed of Notary Ir. Nanette Cahyanie Handari Adi
Warsito, S.H No. 33 dated 28 August 2025.
KEPUTUSAN DAN REALISASI RUPS RESOLUTIONS AND REALIZATION OF THE
TAHUN SEBELUMNYA PREVIOUS YEAR’S GMS
RUPS Tahunan 2024 PGE telah diselenggarakan pada tanggal PGE’s 2024 Annual GMS was held on 28 May 2024 and all
28 Mei 2024 dan seluruh keputusan RUPS Tahunan 2024 telah decisions of the 2024 Annual GMS have been followed up on
ditindaklanjuti sebagai berikut: as follows:
Keputusan RUPS Tahunan 2024 Status Tindak Lanjut
2024 AGMS Resolutions Follow Up Status
1. Persetujuan dan Pengesahan Laporan Tahunan termasuk Laporan Terealisasi
Keuangan Konsolidasian Perseroan serta Laporan Tugas Pengawasan Pemegang saham menerima pertanggungjawaban laporan kinerja,
Dewan Komisaris untuk tahun buku yang berakhir 31 Desember 2023, Laporan Tahunan, Laporan Keuangan, dan memberikan pelunasan dan
disertai Pemberian Pelunasan dan Pembebasan Tanggung Jawab pembebasan tanggung jawab sepenuhnya (volledig acquit et decharge)
Sepenuhnya (volledig acquit et de-charge) kepada Direksi dan Dewan kepada Direksi dan Dewan Komisaris untuk tahun buku 2023 yang
Komisaris. disahkan dengan akta Berita Acara Rapat Umum Pemegang Saham
Tahunan PT Pertamina Geothermal Energy Tbk oleh Notaris Ir. Nanette
Cahyanie Handari Adi Warsito, S.H No. 71 tanggal 28 Mei 2024.
Realized
Approval and Ratification of the Annual Report, including the Company's Shareholders accept accountability for the performance report, Annual
Consolidated Financial Statements and the Board of Commissioners' Report, and Financial Statements, and grant full release and discharge
Supervisory Report for the financial year ending 31 December 2023, (volledig acquit et decharge) to the Board of Directors and Board
along with the Granting of Full Release and Discharge (volledig acquit et of Commissioners for the 2023 financial year, as ratified by the deed
de-charge) to the Board of Directors and the Board of Commissioners. of Minutes of the Annual General Meeting of Shareholders of PT
Pertamina Geothermal Energy Tbk by Notary Ir. Nanette Cahyanie
Handari Adi Warsito, S.H. No. 71 dated 28 May 2024.
2. Persetujuan Penetapan Penggunaan Laba Bersih Perseroan Tahun Buku Terealisasi
2023. Pembagian dividen telah terealisasi pada tanggal 28 Juni 2024.
Realized
Approval of the Determination of the Use of the Company's Net Profit The dividend distribution was realized on 28 June 2024.
for the 2023 Financial Year.
3. Persetujuan Penunjukan Akuntan Publik untuk melakukan audit terhadap Terealisasi
Perseroan Tahun Buku 2024, dengan Pemberian Wewenang kepada Penunjukan KAP Purwantono, Sungkoro & Surja (Ernst & Young) untuk
Direksi dan Dewan Komisaris Perseroan untuk menetapkan honorarium mengaudit Laporan Keuangan PGE tahun 2024 tanggal 20 Januari
dan persyaratan lain dari penunjukan tersebut. 2025.
Realized
Approval of the Appointment of a Public Accountant to conduct an audit of Appointment of Public Accounting Firm Purwantono, Sungkoro &
the Company for the 2024 Financial Year, with the Granting of Authority Surja (Ernst & Young) to audit PGE's 2024 Financial Statements dated
to the Company's Board of Directors and Board of Commissioners 20 January 2025.
to determine the honorarium and other requirements of the appointment.
PT Pertamina Geothermal Energy Tbk
Page 277
Laporan Tahunan 2025 | 2025 Annual Report 275
Keputusan RUPS Tahunan 2024 Status Tindak Lanjut
2024 AGMS Resolutions Follow Up Status
4. Persetujuan Penetapan Remunerasi Tunjangan dan Fasilitas Lainnya Tahun Terealisasi
Buku 2024 dan penghargaan atas Kinerja (Tantiem) Tahun Buku 2023 Akta Berita Acara Rapat Umum Pemegang Saham Tahunan
untuk Direksi dan Dewan Komisaris Perseroan. PT Pertamina Geothermal Energy Tbk oleh Notaris Ir. Nanette Cahyanie
Handari Adi Warsito, S.H No. 71 tanggal 28 Mei 2024.
Realized
Approval of the Determination of Remuneration, Allowances and Other Deed of Minutes of the Annual General Meeting of Shareholders
Facilities for the 2024 Financial Year and Tantiem for the 2023 Financial of PT Pertamina Geothermal Energy Tbk by Notary Public Ir. Nanette
Year for the Company's Board of Directors and Board of Commissioners. Cahyanie Handari Adi Warsito, S.H. No. 71 dated 28 May 2024.
5. Laporan Realisasi Penggunaan Dana IPO Perseroan Terealisasi
Telah dilakukan Keterbukaan Informasi perihal Laporan Penggunaan Dana
Hasil Penawaran Umum dengan Nomor Surat 329/PGE500/2024-S0
tanggal 15 Juli 2024.
Realized
Report on Realization of Use of Company's IPO Proceeds The Information Disclosure Report regarding the Use of Proceeds
from the Public Offering has been issued under Letter Number 329/
PGE500/2024-S0 dated 15 July 2024.
6. Laporan Pelaksanaan Program MESOP dan Persetujuan Pemberian Kuasa Terealisasi
Kepada Dewan Komisaris Perseroan untuk Meningkatkan Modal Disetor Telah dilakukan Keterbukaan Informasi perihal Hasil Pelaksanaan
Dan Ditempatkan Secara Penuh Dalam Rangka Pelaksanaan Program Program Manajemen Employee Stock Option Program (MESOP) Tahap
MESOP I dengan Nomor Surat 188/PGE500/2024-S9 tanggal 29 April 2024.
Realized
Report on the Implementation of the MESOP Program and Approval of the The Company has made an Information Disclosure regarding the Results
Granting of Power of Attorney to the Company's Board of Commissioners of the Implementation of Phase I of the Employee Stock Option Program
to Increase Paid-Up and Issued Capital in Full for the Implementation of the (MESOP) Management through Letter No. 188/PGE500/2024-S9
MESOP Program dated 29 April 2024.
7. Persetujuan Pergantian Pengurus Perseroan Terealisasi
Penutupan RUPST 28 Mei 2024 disahkan dengan akta Notaris
Ir. Nanette Cahyanie Handari Adi Warsito, S.H No. 19 tanggal 10 Juni
2024.
Dewan Komisaris
• Komisaris Utama/Komisaris Independen: Bapak Sarman Simanjorang
• Komisaris Independen: Bapak Abdulla Zayed
• Komisaris: Bapak John Anis
• Komisaris: Bapak Harris
Direksi
• Direktur Utama: Bapak Julfi Hadi
• Direktur Eksplorasi dan Pengembangan: Bapak Edwil Suzandi
• Direktur Operasi: Bapak Ahmad Yani
• Direktur Keuangan: Bapak Yurizki Rio
Realized
Approval of Change of Company Management The closing of the AGMS on 28 May 2024 was ratified by Notarial
Deed No. 19 of Ir. Nanette Cahyanie Handari Adi Warsito, S.H.,
dated 10 June 2024.
Board of Commissioners
• President Commissioner/Independent Commissioner: Mr. Sarman
Simanjorang
• Independent Commissioner: Mr. Abdulla Zayed
• Commissioner: Mr. John Anis
• Commissioner: Mr. Harris
Board of Directors
• President Director: Mr. Julfi Hadi
• Director of Exploration and Development: Mr. Edwil Suzandi
• Director of Operations: Mr. Ahmad Yani
• Director of Finance: Mr. Yurizki Rio
PT Pertamina Geothermal Energy Tbk
Page 278
276 Laporan Tahunan 2025 | 2025 Annual Report
Dewan Komisaris
Board of Commissioners
Dewan Komisaris merupakan salah satu organ utama perseroan The Board of Commissioners is one of the Company's primary
yang memiliki peran penting dalam perusahaan. Dewan organs and plays a crucial role within the Company. The Board
Komisaris bertanggung jawab mengawasi jalannya perusahaan of Commissioners is responsible for overseeing the Company's
termasuk memberikan masukan atau pendapat strategis kepada operations, including providing strategic input and opinions to
Direksi agar perusahaan dikelola sesuai peraturan perundang- the Board of Directors to ensure the Company is managed in
undangan yang berlaku dan dapat memenuhi harapan accordance with applicable laws and regulations and meets
pemangku kepentingan. stakeholder expectations.
KOMPOSISI DEWAN KOMISARIS COMPOSITION OF THE BOARD OF
COMMISSIONERS
Sesuai Anggaran Dasar Perseroan, komposisi Dewan Komisaris According to the Company's Articles of Association, the Board
paling kurang terdiri dari 3 (tiga) anggota dan salah satunya of Commissioners consists of at least 3 (three) members, one of
ditetapkan sebagai Komisaris Utama. whom is designated as President Commissioner.
Pada tahun 2025 terdapat perubahan susunan anggota Dewan In 2025, there were changes to the composition of the Board of
Komisaris sesuai dengan Keputusan RUPS, yaitu: Commissioners in accordance with the Resolution of the GMS,
as follows:
• Menyetujui pemberhentian Bapak Sarman Simanjorang • Approved the dismissal of Mr. Sarman Simanjorang as
sebagai Komisaris Utama/Komisaris Independen sesuai President Commissioner/Independent Commissioner in
Keputusan RUPS Tahunan Tahun Buku 2024 pada 3 Juni accordance with the Resolution of the Annual GMS for the
2025. 2024 Financial Year on 3 June 2025.
• Menyetujui pengalihan penugasan Bapak Gigih Udi Atmo • Approved the reassignment of Mr. Gigih Udi Atmo, initially
semula Komisaris menjadi Komisaris Utama dan Bapak a Commissioner, to President Commissioner, and Mr.
Abdulla Zayed semula Komisaris Independen menjadi Abdulla Zayed, initially an Independent Commissioner, to
Komisaris sesuai Keputusan RUPSLB Tahun 2025 tanggal 20 Commissioner, in accordance with the Resolution of the 2025
Agustus 2025. EGMS dated 20 August 2025.
• Menyetujui pengangkatan Bapak Mohammad Firmansyah • Approved the appointment of Mr. Mohammad Firmansyah
sebagai Komisaris Independen sesuai Keputusan RUPSLB as an Independent Commissioner in accordance with the
Tahun 2025 tanggal 20 Agustus 2025. Resolution of the 2025 EGMS dated 20 August 2025.
Komposisi Dewan Komisaris per 31 Desember 2025 sebagai The composition of the Board of Commissioners as of
berikut: 31 December 2025 is as follows:
Nama Jabatan Dasar Pengangkatan Masa Jabatan
Name Position Basis of Appointment Term of Office
Gigih Udi Atmo Komisaris Utama Sebagai Komisaris: Keputusan RUPSLB Komisaris:
President Commssioner Tahun 2024 tanggal 31 Juli 2024 yang 31 Juli 2024-20 Agustus 2025
dinyatakan dalam Akta Notaris No. 8 Komisaris Utama:
Tanggal 8 Agustus 2024. 20 Agustus 2025-31 juli 2027
As a Commissioner: Resolution of the Commissioner:
Extraordinary General Meeting of 31July 2024-20 August 2025
Shareholders (EGMS) in 2024 dated 31 President Commissioner:
July 2024, as stated in Notarial Deed No. 20 August 2025-31 July 2027
8 dated 8 August 2024.
PT Pertamina Geothermal Energy Tbk
Page 279
Laporan Tahunan 2025 | 2025 Annual Report 277
Nama Jabatan Dasar Pengangkatan Masa Jabatan
Name Position Basis of Appointment Term of Office
As Commissioner: Resolution of the
2024 Extraordinary General Meeting of
Shareholders dated 31 July 2024,
as stated in Notarial Deed No. 8 dated
8 August 2024.
As President Commissioner: Resolution
of the 2025 Extraordinary General
Meeting of Shareholders dated 20 August
2025, as stated in Notarial Deed No. 33
dated 28 August 2025.
John Anis Komisaris Keputusan RUPS Tahunan Tahun Buku 28 Mei 2024-27 Mei 2027
Commissioner 2024 tanggal 28 Mei 2024 yang
dinyatakan dalam Akta Notaris No. 19
tanggal 10 Juni 2024.
Resolution of the Annual General Meeting 28 May 2024-27 May 2027
of Shareholders for the 2024 Financial
Year dated 28 May 2024, as stated in
Notarial Deed No. 19 dated 10 June
2024.
Mohammad Firmansyah Komisaris Independen Keputusan RUPSLB Tahun 2025 tanggal 28 Agustus 2025-27 Agustus 2028
Independent Commissioner 20 Agustus 2025 yang dinyatakan dalam
Akta Notaris No. 33 Tanggal 28 Agustus
2025.
Resolution of the 2025 EGMS dated 28 August 2025-27 August 2028
20 August 2025, as stated in Notarial
Deed No. 33 dated 28 August 2025.
Abdul Musawir Yahya Komisaris Independen Keputusan RUPSLB Tahun 2024 tanggal 31 Juli 2024-30 Juli 2027
Independent Commissioner 31 Juli 2024 yang dinyatakan dalam
Akta Notaris No. 8 tanggal 8 Agustus
2024.
Resolution of the 2024 EGMS dated 31 July 2024-30 July 2027
31 July 2024, as stated in Notarial Deed
No. 8 dated 8 August 2024.
Abdulla Zayed Komisaris Sebagai Komisaris Independen: 28 Mei 2024-27 Mei 2027
Commissioner Keputusan RUPS Tahunan tanggal 28
Mei 2024 yang dinyatakan dalam Akta
Notaris
No. 19 Tanggal 10 Juni 2024.
Sebagai Komisaris: Keputusan RUPSLB
Tahun 2025 tanggal 20 Agustus 2025
yang dinyatakan dalam Akta Notaris
No. 33 Tanggal 28 Agustus 2025.
As Independent Commissioner: 28 May 2024-27 May 2027
Resolution of Annual General Meeting
of Shareholders (AGMS) dated 28 May
2024, as stated in Notarial Deed
No. 19 dated 10 June 2024.
As Commissioner: Resolution of the 2025
Extraordinary General Meeting
of Shareholders (EGMS) dated 20 August
2025, as stated in Notarial Deed No. 33
dated 28 August 2025.
PEDOMAN DAN TATA TERTIB KERJA BOARD MANUAL FOR THE BOARD OF
DEWAN KOMISARIS (BOARD MANUAL) COMMISSIONERS
Dewan Komisaris memiliki pedoman kerja (board manual) sebagai The Board of Commissioners has a board manual as a reference
acuan dalam melaksanakan tugas dan tanggung jawabnya. in carrying out its duties and responsibilities. The Board
Board Manual disusun dan dimutakhirkan secara berkala Manual is prepared and updated periodically in accordance
sesuai dengan peraturan dan kebijakan internal Perseroan. with the Company's internal regulations and policies.
Board manual telah diperbarui melalui Surat Keputusan The Board Manual was updated through Decrees
PT Pertamina Geothermal Energy Tbk
Page 280
278 Laporan Tahunan 2025 | 2025 Annual Report
No.022/DK/PGE/2023-S0 dan No.Kpts-058/ No. 022/DK/PGE/2023-S0 and No. Kpts-058/
PGE000/2023-S0 tanggal 30 Agustus 2023. Pada tahun 2025 PGE000/2023-S0 dated 30 August 2023. There were no
tidak terdapat pembaruan Board Mannual dengan pertimbangan updates to the Board Manual in 2025, as it remains relevant and
Board Mannual tersebut masih relevan dan sesuai dengan compliant with the Company's regulations and organizational
ketentuan serta kebutuhan organisasi Perseroan. needs.
Cakupan yang ditetapkan dalam Board Manual diantaranya The scope stipulated in the Board Manual includes:
adalah:
• Persyaratan, keanggotaan dan rangkap jabatan • Requirements, membership, and concurrent positions
• Masa jabatan • Term of office
• Pemberhentian dan pengunduran diri • Dismissal and resignation
• Pengisian jabatan kosong anggota Dewan Komisaris • Filling vacancy on members of the Board of Commissioners
• Program orientasi dan peningkatan kapabilitas • Orientation and competency development programs
• Waktu kerja dan rapat • Working hours and meetings
• Ketentuan Komisaris Independen • Provisions for Independent Commissioners
• Etika jabatan Dewan Komisaris • Board of Commissioners' job ethics
• Pengungkapan kepemilikan saham • Share ownership disclosure
• Tugas, kewajiban dan wewenang Dewan Komisaris • Duties, obligations, and authorities of the Board of
Commissioners
• Pertanggungjawaban Dewan Komisaris • Accountability of the Board of Commissioners
• Evaluasi kinerja Dewan Komisaris • Performance evaluation of the Board of Commissioners
• Organ Pendukung Dewan Komisaris • Supporting Organs of the Board of Commissioners
Masa Jabatan Dewan Komisaris Term of Office of the Board of
Commissioners
Sebagaimana yang ditetapkan dalam Anggaran Dasar Perseroan As stipulated in the Company's Articles of Association and the
dan Board Manual Dewan Komisaris, masa jabatan anggota Board Manual for the Board of Commissioners, the term of office
Dewan Komisaris adalah 3 (tiga) tahun dan dapat diangkat of members of the Board of Commissioners is 3 (three) years,
kembali untuk 1 (satu) kali periode jabatan oleh Rapat Umum and they may be reappointed for one additional term by the
Pemegang Saham (RUPS). Anggota Dewan Komisaris dapat General Meeting of Shareholders (GMS). Members of the Board
diberhentikan sewaktu-waktu oleh RUPS dengan menyertakan of Commissioners may be dismissed at any time by the GMS with
alasan yang jelas. apparent reasons.
TUGAS DAN TANGGUNG JAWAB DUTIES AND RESPONSIBILITIES OF THE
DEWAN KOMISARIS BOARD OF COMMISSIONERS
1. Dewan Komisaris bertugas melakukan pengawasan terhadap 1. The Board of Commissioners is responsible for overseeing
kebijakan dan jalannya pengurusan pada umumnya, the policies and general management of the Company,
baik mengenai Perseroan maupun usaha Perseroan yang both regarding the Company and the Company's business
dilakukan oleh Direksi, serta memberikan nasihat kepada activities conducted by the Board of Directors. It also provides
Direksi termasuk pengawasan terhadap pelaksanaan advice to the Board of Directors, including oversight of the
Rencana Jangka Panjang Perusahaan (RJPP), Rencana Kerja implementation of the Company's Long-Term Plan (RJPP), the
dan Anggaran Perusahaan (RKAP), ketentuan Anggaran Company's Work Plan and Budget (RKAP), the provisions
Dasar dan Keputusan RUPS, serta peraturan perundang- of the Articles of Association and GMS Resolutions, as well
undangan yang berlaku, untuk kepentingan Perseroan dan as applicable laws and regulations, for the benefit of the
sesuai dengan maksud dan tujuan Perseroan. Company and in accordance with the Company's purposes
and objectives.
2. Dalam melaksanakan tugasnya tersebut, setiap anggota 2. In carrying out their duties, each member of the Board of
Dewan Komisaris harus: Commissioners must:
• Mematuhi ketentuan Anggaran Dasar Perseroan, • Comply with the provisions of the Company's Articles of
keputusan RUPS dan peraturan perundang-undangan Association, GMS resolutions, and applicable laws and
yang berlaku serta prinsip-prinsip profesionalisme, regulations, as well as the principles of professionalism,
efisiensi, transparansi, kemandirian, akuntabilitas, efficiency, transparency, independence, accountability,
pertanggungjawaban serta kewajaran. responsibility, and fairness.
PT Pertamina Geothermal Energy Tbk
Page 281
Laporan Tahunan 2025 | 2025 Annual Report 279
• Melakukan itikad baik, penuh kehati-hatian dan • Act in good faith, with prudence, and be responsible
bertanggung jawab kepada Perseroan dalam hal to the Company, represented by the GMS, in carrying
ini diwakili oleh RUPS dalam menjalankan tugas out their supervisory duties and providing advice to the
pengawasan dan pemberian nasihat kepada Direksi Board of Directors for the benefit of the Company, and in
untuk kepentingan Perseroan, serta sesuai dengan accordance with the Company's purposes and objectives.
maksud dan tujuan Perseroan.
• Tidak melakukan transaksi yang mempunyai benturan • Refrain from engaging in transactions that have a conflict
kepentingan dan mengambil kepentingan Perseroan of interest and take advantage of the Company's interests
selain honorarium dan fasilitas yang ditentukan oleh other than the honorarium and facilities determined by the
RUPS. GMS.
3. Dalam melaksanakan tugasnya tersebut, Dewan Komisaris 3. In carrying out its duties, the Board of Commissioners is
berkewajiban untuk: obliged to:
• Meneliti, menelaah, dan menandatangani rancangan • Examine, review, and sign the draft RJPP, Annual RKAP,
dari RJPP, RKAP Tahunan, RKAP yang disetujui dan RKAP approved RKAP, and previous RKAP proposed by the
sebelumnya yang diusulkan Direksi, serta tunduk pada Board of Directors, and comply with the provisions
ketentuan yang diatur dalam Anggaran Dasar Perseroan. governed in the Company's Articles of Association.
• Mengikuti perkembangan kegiatan Perseroan, • Follow the development of the Company's activities and
memberikan pendapat dan saran kepada RUPS provide opinions and suggestions to the GMS on any
mengenai setiap masalah yang dianggap penting bagi issues deemed important to the Company's management.
kepengurusan Perseroan.
• Melaporkan dengan segera kepada RUPS apabila terjadi • Report immediately to the GMS any signs of declining
gejala menurunnya kinerja Perseroan. Company performance.
• Meneliti dan menelaah laporan berkala dan Laporan • Examine and review periodic reports and the Annual
Tahunan yang disiapkan Direksi serta menandatangani Report prepared by the Board of Directors and sign the
Laporan Tahunan. Annual Report.
• Membentuk Komite Audit. • Establish an Audit Committee.
• Melaksanakan kewajiban lainnya dalam rangka tugas • Carry out other obligations within the framework of its
pengawasan dan pemberian nasihat sepanjang tidak supervisory and advisory duties, provided they do not
bertentangan dengan perundang-undangan, Anggaran conflict with laws, the Articles of Association, and/or
Dasar, dan/ atau Keputusan RUPS. GMS Resolutions.
• Melakukan itikad baik, penuh kehati-hatian, dan • Act in good faith, with prudence, and be accountable
bertanggung jawab kepada RUPS dalam menjalankan to the GMS in carrying out its supervisory and advisory
tugas pengawasan dan pemberian nasihat kepada duties to the Board of Directors for the benefit of the
Direksi untuk kepentingan Perseroan dan sesuai dengan Company and in accordance with the Company's
maksud dan tujuan Perseroan. purposes and objectives.
Hak dan Wewenang Dewan Komisaris Rights and Authorities of the Board of
Commissioners
Dewan Komisaris memiliki hak dan wewenang sebagaimana The Board of Commissioners has the rights and authorities as
diatur dalam Board Manual Dewan Komisaris, antara lain: governed in the Board Manual, including:
1. Melihat buku, surat, serta dokumen Perseroan, memeriksa 1. Reviewing the Company's books, letters, and documents;
kas untuk keperluan verifikasi dan lain-lain surat berharga, examining cash for verification purposes and other securities;
dan memeriksa kekayaan Perseroan. and inspecting the Company's assets.
2. Memasuki pekarangan, gedung, dan kantor yang 2. Entering the grounds, buildings, and offices used by the
dipergunakan oleh Perseroan. Company.
3. Meminta penjelasan dari Direksi dan/atau pejabat lainnya 3. Requesting clarification from the Board of Directors and/
mengenai segala persoalan yang menyangkut pengelolaan or other officials regarding all matters concerning the
Perseroan. management of the Company.
4. Mengetahui segala kebijakan dan tindakan yang telah dan 4. Understanding all policies and actions that have been or will
akan dijalankan oleh Direksi. be implemented by the Board of Directors.
5. Meminta Direksi dan/atau pejabat lainnya di bawah Direksi 5. Requesting the Board of Directors and/or other officials under
dengan sepengetahuan Direksi untuk menghadiri Rapat the Board of Directors, with the Board's knowledge, to attend
Dewan Komisaris. Board of Commissioners meetings.
6. Mengangkat Sekretaris Dewan Komisaris, jika dianggap 6. Appointing the Secretary to the Board of Commissioners, if
perlu. deemed necessary.
PT Pertamina Geothermal Energy Tbk
Page 282
280 Laporan Tahunan 2025 | 2025 Annual Report
7. Memberhentikan sementara anggota Direksi Sesuai dengan 7. Temporarily suspending members of the Board of Directors
ketentuan Undang-Undang Perseroan Terbatas dengan in accordance with the provisions of the Limited Liability
memberitahukan secara tertulis kepada yang bersangkutan Company Law by providing written notification to the relevant
disertai alasan yang menyebabkan tindakan itu. person along with the reasons for such action.
8. Membentuk komite-komite lain selain Komite Audit, jika 8. Establishing committees other than the Audit Committee, if
dianggap perlu dengan memperhatikan kemampuan deemed necessary, considering the Company's capabilities.
Perseroan.
9. Menggunakan tenaga ahli untuk hal tertentu dan dalam 9. Using experts for specific matters and for a specific period at
jangka waktu tertentu atas beban Perseroan, jika dianggap the Company's expense, if deemed necessary.
perlu.
10. Melakukan tindakan pengurusan Perseroan dalam keadaan 10. Perform management actions for the Company under certain
tertentu untuk jangka waktu tertentu sesuai dengan ketentuan circumstances for a specified period in accordance with the
Anggaran Dasar. provisions of the Articles of Association.
11. Menghadiri rapat Direksi dan memberikan pandangan- 11. Attend Board of Directors meetings and provide views on
pandangan terhadap hal-hal yang dibicarakan. subjects discussed.
12. Melaksanakan kewenangan pengawasan lainnya sepanjang 12. Exercise other supervisory authority as long as it does not
tidak bertentangan dengan peraturan perundang-undangan, conflict with laws and regulations, the Articles of Association,
Anggaran Dasar, dan/atau keputusan RUPS. and/or GMS resolutions.
13. Menyetujui laporan tugas pengawasan Dewan Komisaris. 13. Approve the Board of Commissioners' supervisory report.
Tugas dan Tanggung Jawab Komisaris Duties and Responsibilities of the
Utama President Commissioner
Komisaris Utama memiliki tanggung jawab untuk The President Commissioner is responsible for coordinating
mengoordinasikan kegiatan Dewan Komisaris atas tugas the activities of the Board of Commissioners in overseeing the
pengawasan terhadap kebijakan pengurusan dan jalannya management policies and operations of the Company.
Perseroan.
Pembidangan Tugas Dewan Komisaris Division of Duties of the Board of
Commissioners
Dewan Komisaris juga melakukan pembagian pembidangan The Board of Commissioners also divides its duties as follows:
tugas sebagai berikut:
Nama Jabatan Pembidangan Tugas
Name Position Division of Duties
1. Mengkoordinasikan kegiatan Dewan Komisaris atas tugas pengawasan
terhadap kebijakan pengurusan dan jalannya perusahaan serta pemberian
nasihat atas kepatuhan terhadap Tata Kelola Perusahaan yang Baik (Good
Corporate Governance) dan perundang-undangan yang berlaku;
2. Menjabat sebagai Ketua Komite Investasi dan Manajemen Risiko
Komisaris Utama
Gigih Udi Atmo
President Commissioner
1. Coordinate the activities of the Board of Commissioners in overseeing the
management policies and operations of the Company, as well as providing
advice on compliance with Good Corporate Governance and applicable
laws;
2. Serve as Chairman of the Investment and Risk Management Committee.
1. Melaksanakan tugas pengawasan di bidang investasi dan manajemen risiko,
serta kegiatan eksplorasi dan pengembangan;
2. Menjabat sebagai anggota Komite Investasi dan Manajemen Risiko
Komisaris
John Anis
Commissioner
1. Carry out supervisory duties in the areas of investment and risk management,
as well as exploration and development activities;
2. Serve as a member of the Investment and Risk Management Committee.
1. Melakukan tugas pengawasan di bidang Operasional Perusahaan;
2. Menjabat sebagai Ketua Komite Audit
Komisaris Independen
Mohammad Firmansyah
Independent Commissioner
1. Carry out supervisory duties in the area of Company's operations;
2. Serve as Chairman of the Audit Committee
PT Pertamina Geothermal Energy Tbk
Page 283
Laporan Tahunan 2025 | 2025 Annual Report 281
Nama Jabatan Pembidangan Tugas
Name Position Division of Duties
1. Melaksanakan tugas pengawasan di bidang Operasional Perusahaan;
2. Menjabat sebagai Ketua Komite Nominasi dan Remunerasi.
Komisaris Independen
Abdul Musawir Yahya
Independent Commissioner
1. Carry out supervisory duties in the areas of Company's Operations;
2. Serve as Chairman of the Nomination and Remuneration Committee.
1. Melaksanakan pengawasan di bidang keuangan, pengendalian internal,
dan GCG
2. Menjabat sebagai anggota Komite Audit.
Komisaris
Abdulla Zayed
Commissioner
1. Carry out supervisory duties in the areas of finance, internal control, and
GCG.
2. Serve as a member of the Audit Committee.
Dalam menjalankan tugas dan tanggung jawabnya, Dewan In carrying out its duties and responsibilities, the Board of
Komisaris didukung oleh Sekretaris Dewan Komisaris dan 3 (tiga) Commissioners is supported by the Secretary to the Board of
komite yaitu Komite Audit, Komite Nominasi dan Remunerasi serta Commissioners and three (3) committees: the Audit Committee,
Komite Investasi dan Manajemen Risiko. Susunan keanggotaan the Nomination and Remuneration Committee, and the Investment
komite secara lengkap dijelaskan pada bagian Komite-Komite di and Risk Management Committee. The complete composition of
bawah Dewan Komisaris. these committees is explained in the Committees under the Board
of Commissioners section.
KEPUTUSAN YANG PERLU MENDAPAT DECISIONS REQUIRING APPROVAL THE
PERSETUJUAN DEWAN KOMISARIS BOARD OF COMMISSIONERS
Anggaran Dasar Perseroan menetapkan tindakan pengelolaan The Company’s Articles of Association stipulate that the
Perseroan oleh Direksi yang memerlukan persetujuan Dewan Company’s management actions by the Board of Directors that
Komisaris, antara lain: require the approval of the Board of Commissioners include the
following:
1. Menerima pinjaman jangka pendek, kecuali untuk 1. Receiving short-term loans, except for working capital
pembiayaan modal kerja. financing.
2. Menerbitkan surat-surat utang, obligasi atau surat aksep atau 2. Issuing debt securities, bonds, or letters of acceptance or
menerima pinjaman jangka menengah/panjang dengan receiving medium- or long-term loans with a value exceeding
nilai melebihi yang ditetapkan Dewan Komisaris. that determined by the Board of Commissioners.
3. Memberikan pinjaman jangka pendek, menengah/panjang 3. Providing short-, medium-, or long-term loans to subsidiaries
kepada anak Perusahaan atau afiliasi Perseroan, termasuk or affiliates of the Company, including converting loans
mengubah pinjaman anak Perusahaan atau afiliasi Perseroan from subsidiaries or affiliates into issued capital of the
menjadi modal ditempatkan oleh Perseroan dengan nilai Company with a certain value determined by the Board of
tertentu yang ditetapkan Dewan Komisaris. Commissioners.
4. Mengagunkan aktiva tetap diperlukan dalam melaksanakan 4. Placing fixed assets as collateral, which is required for short-
penarikan kredit jangka pendek. term credit withdrawals.
5. Melepaskan dan menghapuskan aktiva tetap bergerak 5. Disposing of and writing off movable fixed assets with a
dengan umur ekonomis yang lazim berlaku dalam industri generally applicable economic life of up to five years in the
pada umumnya sampai dengan lima tahun. industry.
6. Menghapuskan dari pembukuan terhadap piutang macet 6. Writing off bad debts and obsolete inventory from the books.
dan persediaan barang mati.
7. Mengadakan kerja sama lisensi, kontrak manajemen, 7. Enter into licensing agreements, management contracts,
menyewakan aset, kerja sama operasi dan perjanjian asset leases, operational agreements, and other cooperation
kerja sama lainnya yang dalam bidang usaha Perseroan agreements within the Company’s business areas as stipulated
sebagaimana ketentuan Pasal 3 Anggaran Dasar yang in Article 3 of the Articles of Association, exceeding a certain
melebihi nilai tertentu yang ditetapkan oleh Dewan Komisaris. value determined by the Board of Commissioners.
8. Mengadakan kerja sama lisensi, kontrak manajemen, 8. Enter into licensing agreements, management contracts,
menyewakan aset, kerja sama operasi dan kerjasama lainnya asset leases, operational agreements, and other cooperation
yang tidak dalam bidang usaha Perseroan sebagaimana agreements not within the Company’s business areas as
ketentuan Pasal 3 Anggaran Dasar, untuk jangka waktu tidak stipulated in Article 3 of the Articles of Association, for a
lebih dari satu tahun atau yang melebihi nilai tertentu yang period of no more than one year or exceeding a certain value
ditetapkan oleh Dewan Komisaris. determined by the Board of Commissioners.
PT Pertamina Geothermal Energy Tbk
Page 284
282 Laporan Tahunan 2025 | 2025 Annual Report
9. Menetapkan dan menyesuaikan struktur organisasi sampai 9. Establish and adjust the organizational structure down to one
dengan satu tingkat di bawah Direksi. level below the Board of Directors.
10. Mengikat Perseroan sebagai penjamin (borg atau avalist) 10. Bind the Company as guarantor (borg or avalist) for a certain
dengan nilai tertentu yang ditetapkan oleh Dewan Komisaris. value determined by the Board of Commissioners.
11. Melakukan penyertaan modal Perseroan dalam badan usaha 11. Conducting capital participation of the Company in other
lainnya. business entities
12. Melepaskan baik sebagian atau seluruhnya penyertaan 12. Divest, in whole or in part, the Company’s capital in other
modal Perseroan dalam badan usaha lainnya. business entities.
13. Mendirikan anak Perusahaan dan/atau Perusahaan 13. Establish subsidiaries and/or joint ventures.
patungan.
14. Melakukan penggabungan, peleburan, pengambilalihan 14. Conducting mergers, amalgamations, acquisitions, or
atau pemisahan masing-masing sebagaimana didefinisikan separations as defined in Law Number 40 of 2007 concerning
dalam Undang-Undang Nomor 40 Tahun 2007 mengenai Limited Liability Companies (as amended from time to time).
Perseroan Terbatas (sebagaimana diubah dari waktu ke
waktu).
15. Mengadakan transaksi derivatif yang merupakan turunan 15. Conducting derivative transactions which are derivatives of
dari transaksi jual beli valuta asing dan produk terstruktur foreign exchange buying and selling transactions and other
finansial lainnya. structured financial products.
KRITERIA ANGGOTA DEWAN KOMISARIS CRITERIA FOR MEMBERS OF THE BOARD
OF COMMISSIONERS
Anggota Dewan Komisaris wajib memenuhi persyaratan yang Members of the Board of Commissioners must meet the
ditetapkan peraturan, yaitu: requirements stipulated by the regulations, namely:
1. Syarat umum meliputi: 1. General requirements include:
a. Mempunyai akhlak, moral, dan integritas yang baik. a. Have good moral character, ethics, and integrity.
b. Cakap melakukan perbuatan hukum. b. Competent in performing legal acts.
c. Memiliki komitmen untuk mematuhi peraturan perundang- c. Have a commitment to comply with laws and regulations
undangan dan tata Kelola perusahaan yang baik. and good corporate governance.
d. Memiliki pengetahuan dan/atau keahlian di bidang d. Have knowledge and/or expertise in the fields required
yang dibutuhkan oleh Perseroan. by the Company.
e. Dalam lima tahun sebelum pengangkatan dan selama e. Within the five years prior to appointment and during the
menjabat: term of office:
1) Tidak pernah dinyatakan pailit. 1) Have never been declared bankrupt.
2) Tidak pernah menjadi anggota Direksi dan/atau 2) Have never been a member of the Board of Directors
anggota Dewan Komisaris yang dinyatakan bersalah and/or a member of the Board of Commissioners
menyebabkan suatu perusahaan dinyatakan pailit. found guilty of causing a company to declared
bankrupt.
• Tidak pernah dihukum karena melakukan tindak • Has never been convicted of a crime that harms
pidana yang merugikan keuangan negara dan/ state finances and/or is related to the financial
atau yang berkaitan dengan sektor keuangan. sector.
• Tidak pernah menjadi anggota Direksi dan/atau • Has never been a member of the Board of
Dewan Komisaris yang selama menjabat: Directors and/or the Board of Commissioners
who, during their term of office:
3) Pernah tidak menyelenggarakan RUPS. 3) Has never held a GMS.
• Pertanggungjawaban sebagai anggota Direksi • Accountability as a member of the Board of
dan/atau Dewan Komisaris pernah tidak diterima Directors and/or Board of Commissioners has
oleh RUPS atau tidak pernah memberikan never been accepted by the GMS, nor has it ever
pertanggungjawaban sebagai anggota Direksi provided accountability as a member of the Board
dan/atau Dewan Komisaris kepada RUPS. of Directors and/or Board of Commissioners to
the GMS.
• Pernah menyebabkan Perusahaan yang • Has ever caused a company that has obtained
memperoleh izin, Persetujuan, atau pendaftaran a permit, approval, or registration from the
dari Otoritas Jasa Keuangan (OJK) tidak Financial Services Authority (OJK) to fail to fulfill
memenuhi kewajiban menyampaikan laporan its obligation to submit an annual report and/or
Tahunan dan/atau laporan keuangan kepada financial statement to the OJK.
OJK.
PT Pertamina Geothermal Energy Tbk
Page 285
Laporan Tahunan 2025 | 2025 Annual Report 283
2. Syarat khusus meliputi: 2. Special requirements include:
a. Memiliki pengalaman menangani korporasi sebagai a. Have experience managing corporations as senior
senior management dan dapat memberikan rekomendasi management and can provide recommendations and
serta solusi yang dibutuhkan Perseroan. solutions needed by the Company.
b. Menyediakan waktu yang cukup untuk melaksanakan b. Have sufficient time to carry out their duties.
tugasnya.
c. Khusus untuk Komisaris Independen wajib memenuhi c. Specifically, Independent Commissioners must meet the
persyaratan sebagai berikut: following requirements:
1) Bukan merupakan orang yang bekerja atau 1) Not an individual who works or has the authority and
mempunyai wewenang dan tanggungjawab untuk responsibility to plan, lead, control, or supervise the
merencanakan, memimpin, mengendalikan, atau activities of the Issuer or Public Company in the last six
mengawasi kegiatan Emiten atau Perusahaan Publik months, except for reappointment as an Independent
tersebut dalam waktu enam bulan terakhir, kecuali Commissioner of the Issuer or Public Company in the
untuk pengangkatan kembali sebagai Komisaris following period.
Independen Emiten atau Perusahaan Publik pada
periode berikutnya.
2) Tidak mempunyai saham baik langsung maupun 2) Does not own shares, directly or indirectly, in the
tidak langsung pada Emiten atau Perusahaan Publik Issuer or Public Company.
tersebut.
3) Tidak mempunyai hubungan afiliasi dengan 3) Does not have any affiliated relationship with the
Perseroan, anggota Dewan Komisaris, anggota Company, members of the Board of Commissioners,
Direksi, atau pemegang saham utama Perseroan. members of the Board of Directors, or major
shareholders of the Company.
4) Tidak mempunyai hubungan usaha baik langsung 4) Have no direct or indirect business relationships
maupun tidak langsung yang berkaitan dengan related to the business activities of the Issuer or Public
kegiatan usaha Emiten atau Perusahaan Publik Company.
tersebut.
d. Persyaratan sebagaimana dimaksud angka 3 diatas d. The requirements referred to in point 3 above must be met
wajib dipenuhi oleh Komisaris Independen selama by Independent Commissioners during their term of office.
menjabat.
3. Syarat lain-lain meliputi: 3. Other requirements include:
a. Tidak memiliki hubungan keluarga sampai derajat ketiga, a. Have no familial relationships up to the third degree,
baik menurut garis lurus maupun garis ke samping, either vertically or horizontally, including relationships by
termasuk hubungan semenda (menantu atau ipar) marriage (son-in-law or brother-in-law) with members of
dengan anggota Dewan Komisaris dan/ atau anggota the Board of Commissioners and/or other members of the
Direksi lainnya. Board of Directors.
b. Bukan pengurus partai politik dan/atau anggota b. Not an administrator of a political party and/or a member
legislatif. of the legislature.
c. Tidak sedang menduduki jabatan sebagai anggota c. Not currently hold a position as a member of the Board
Direksi pada Badan Usaha Milik Daerah, Badan of Directors of a Regionally-Owned Enterprise, Privately-
Usaha Milik Swasta atau jabatan lainnya yang dapat Owned Enterprise, or any other position that could
menimbulkan benturan kepentingan secara langsung give rise to a direct or indirect conflict of interest with
atau tidak langsung dengan Perseroan sesuai dengan the Company in accordance with applicable laws and
ketentuan peraturan perundang-undangan yang berlaku. regulations.
d. Tidak sedang menduduki jabatan lainnya sesuai dengan d. Not currently hold any other position in accordance
ketentuan dalam peraturan perundang-undangan atau with the provisions of laws and regulations or any
jabatan lainnya yang dapat menimbulkan benturan other position that could give rise to a direct or indirect
kepentingan secara langsung atau tidak langsung conflict of interest with the Company in accordance with
dengan Perseroan sesuai dengan ketentuan peraturan applicable laws and regulations.
perundang-undangan yang berlaku.
PT Pertamina Geothermal Energy Tbk
Page 286
284 Laporan Tahunan 2025 | 2025 Annual Report
KOMISARIS INDEPENDEN INDEPENDENT COMMISSIONER
Kriteria Komisaris Independen Criteria for Independent Commissioners
Komisaris Independen adalah anggota Dewan Komisaris yang An Independent Commissioner is a member of the Board of
berasal dari luar Perseroan dan memenuhi persyaratan sebagai Commissioners who comes from outside the Company and meets
berikut: the following requirements:
• Bukan merupakan orang yang bekerja atau mempunyai • Not an individual who works or had the authority and
wewenang dan tanggung jawab untuk merencanakan, responsibility to plan, lead, control, or supervise the
memimpin, mengendalikan, atau mengawasi kegiatan Company’s activities within the last 6 (six) months, except
Perseroan dalam waktu 6 (enam) bulan terakhir, kecuali for reappointment as an Independent Commissioner of the
untuk pengangkatan kembali sebagai Komisaris Independen Company for the following period;
Perseroan pada periode berikutnya;
• Tidak mempunyai saham baik langsung maupun tidak • Does not own shares, either directly or indirectly, in the
langsung pada Perseroan tersebut; Company;
• Tidak mempunyai hubungan Afiliasi dengan Perseroan, • Has no affiliation with the Company, members of the Board of
anggota Dewan Komisaris, anggota Direksi, atau pemegang Commissioners, members of the Board of Directors, or major
saham utama. shareholders.
Komisaris Independen dalam komposisi Dewan Komisaris The Independent Commissioners within the Board of
diharapkan dapat menjamin mekanisme pengawasan berjalan Commissioners are expected to ensure the effective and objective
secara efektif dan obyektif sesuai dengan peraturan perundang- functioning of the supervisory mechanism in accordance with laws
undangan. Komisaris Independen Perseroan telah memenuhi and regulations. The Company’s Independent Commissioners
persyaratan sebagaimana yang ditetapkan. have met the requirements as stipulated.
Jumlah Komisaris Independen Perseroan terdiri dari 2 (dua) The Company’s Independent Commissioners comprise two (2)
anggota atau 40% dari jumlah seluruh anggota Dewan members, or 40% of the total Board of Commissioners. This meets
Komisaris, halini telah memenuhi persyaratan yang ditetapkan the requirements set forth in the following regulations:
peraturan berikut:
• Peraturan No.33/POJK.04/2014 tentang Direksi dan Dewan • OJK Regulation No. 33/POJK.04/2014 concerning the
Komisaris Emiten atau Perusahaan Publik mensyaratkan Board of Directors and Board of Commissioners of Issuers or
bahwa jumlah Komisaris Independen paling kurang 30% Public Companies requires that the number of Independent
dari jumlah Dewan Komisaris. Commissioners be at least 30% of the Board of Commissioners.
• Peraturan Menteri BUMN No.PER-2/MBU/03/2023 tentang • Regulation of the Minister of SOE No. PER-2/MBU/03/2023
Pedoman Tata Kelola dan Kegiatan Korporasi Signifikan concerning Guidelines for Governance and Significant
BUMN mensyaratkan komposisi Dewan Komisaris paling Corporate Activities of State-Owned Enterprises requires
sedikit 20% adalah Komisaris Independen. that the Board of Commissioners comprise at least 20%
Independent Commissioners.
Pernyataan Independensi Komisaris Independent Commissioner Independence
Independen Statement
Pernyataan independensi secara tertulis oleh Komisaris A written independence statement by the Company’s Independent
Independen Perseroan dilakukan secara berkala setiap tahunnya Commissioners is made annually and documented by the Legal
dan didokumentasikan oleh Divisi Legal dan Compliance untuk and Compliance Division for archiving and oversight purposes.
keperluan arsip dan pengawasan.
PT Pertamina Geothermal Energy Tbk
Page 287
Laporan Tahunan 2025 | 2025 Annual Report 285
Pernyataan Independensi Komisaris Independent Commissioner Independence
Independen Statement
Selama tahun 2025, tidak terdapat Komisaris Independen In 2025, there was no Independent Commissioner of the
Perseroan yang menjabat lebih dari 2 (dua) periode. Perseroan Company who served more than 2 (two) terms. The Company
senantiasa berupaya menjaga independensi dan kepatuhan consistently strives to maintain independence and adherence to
terhadap prinsip-prinsip Tata Kelola Perusahaan yang Baik. the principles of Good Corporate Governance.
PROGRAM ORIENTASI ANGGOTA DEWAN ORIENTATION PROGRAM FOR NEW
KOMISARIS BARU BOARD OF COMMISSIONERS
Anggota Dewan Komisaris baru akan mengikuti program New members of the Board of Commissioners will participate
pengenalan atau orientasi untuk mensosialisasikan peran dan in an orientation program to familiarize them with their roles
tanggung jawab sebagai Dewan Komisaris serta memberikan and responsibilities as Commissioners and to provide an
pemahaman mengenai kondisi umum Perseroan, visi, misi, understanding of the Company’s general conditions, vision,
strategi dan kegiatan bisnis Perseroan. mission, strategy, and business activities.
Materi orientasi juga mencakup penjelasan tentang penerapan Orientation materials also include an explanation of the
prinsip-prinsip GCG, tugas dan kewenangan yang didelegasikan, application of GCG principles, delegated duties and authorities,
serta tata laksana hubungan dengan organ Perseroan lainnya and the governance of relationships with other Company organs,
termasuk mengenai teknis dan waktu pelaksanaannya. Secara including technical details and timelines. Specifically, members
khusus anggota Dewan Komisaris juga akan mendapatkan of the Board of Commissioners will also receive additional
informasi tambahan terkait pengembangan panas bumi Indonesia information regarding the development of geothermal energy in
dan Perseroan, serta tantangan dan harapan Perseroan ke Indonesia and the Company, as well as the Company’s challenges
depan. and future expectations.
Program orientasi Dewan Komisaris disampaikan melalui The Board of Commissioners orientation program is delivered
presentasi, pertemuan atau kunjungan ke fasilitas Perseroan, through presentations, meetings, or visits to Company facilities,
perkenalan dengan jajaran Perseroan dan/atau jajaran introductions to the Company’s staff and/or management, as well
manajemen di Perseroan, serta program lainnya sesuai as other programs as needed, while prioritizing accountability
kebutuhan, dengan tetap mengedepankan akuntabilitas dan and cost efficiency.
efisiensi biaya.
PT Pertamina Geothermal Energy Tbk
Page 288
286 Laporan Tahunan 2025 | 2025 Annual Report
Pelaksanaan program orientasi dikoordinir oleh Fungsi The orientation program implementation is coordinated by
Corporate Secretary, Fungsi Human Capital dan Sekretariat the Corporate Secretary, Human Capital, and Board of
Dewan Komisaris yang akan dilakukan paling lambat 90 hari Commissioners Secretariat and will be conducted no later
kalender setelah pengangkatan anggota Dewan Komisaris than 90 calendar days after the appointment of the Board of
oleh RUPS. Commissioners members by the GMS.
Pada tahun 2025, program orientasi telah diberikan pada In 2025, an orientation program was provided on 29 September
tanggal 29 September 2025 kepada 1 (satu) anggota Dewan 2025 to one new member of the Board of Commissioners,
Komisaris baru yaitu Mohammad Firmansyah sebagai Komisaris Mohammad Firmansyah, as an Independent Commissioner. He
Independen yang diangkat melalui Keputusan RUPSLB Tahun was appointed through the Resolution of the 2025 EGM dated
2025 tanggal 20 Agustus 2025 yang dinyatakan dalam Akta 20 August 2025, as stated in Notarial Deed No. 33 dated 28
Notaris No. 33 Tanggal 28 Agustus 2025. August 2025.
RAPAT DEWAN KOMISARIS BOARD OF COMMISSIONERS MEETINGS
Kebijakan Rapat Meeting Policy
Ketentuan rapat Dewan Komisaris diatur dalam Board Manual The provisions for Board of Commissioners meetings are regulated
dengan cakupan antara lain: in the Board Manual, including, among other things:
1. Dewan Komisaris wajib mengadakan rapat paling kurang 1 1. The Board of Commissioners is required to hold meetings at
(satu) kali dalam sebulan. least once a month.
2. Dewan Komisaris dapat mengadakan rapat sewaktu-waktu 2. The Board of Commissioners may hold meetings at any
apabila dipandang perlu oleh Komisaris Utama atau usul time deemed necessary by the President Commissioner or
paling sedikit 1/3 (satu per tiga) dari jumlah anggota Dewan upon the proposal of at least 1/3 (one-third) of the Board of
Komisaris, permintaan Direksi atau atas permintaan tertulis Commissioners, at the request of the Board of Directors, or
dari Pemegang saham yang memiliki jumlah saham terbesar upon the written request of the shareholder with the largest
dengan mencantumkan agenda rapat. number of shares, including a meeting agenda.
3. Dewan Komisaris juga wajib mengadakan rapat gabungan 3. The Board of Commissioners is also required to hold joint
bersama Direksi secara berkala paling kurang 1 (satu) kali meetings with the Board of Directors periodically, at least
dalam 4 (empat) bulan. once every 4 (four) months.
4. Panggilan Rapat Dewan Komisaris disampaikan secara tertulis 4. Summons for Board of Commissioners Meetings shall
kepada setiap anggota Dewan Komisaris dalam jangka be submitted in writing to each member of the Board of
waktu paling lambat 5 (lima) hari sebelum pelaksanaan Commissioners no later than 5 (five) days prior to the meeting.
rapat.
5. Rapat Dewan Komisaris dianggap sah apabila diadakan di 5. Board of Commissioners meetings are considered valid if
tempat kedudukan Perseroan, atau tempat kegiatan usaha held at the Company’s domicile or at the principal place of
utama di dalam wilayah Republik Indonesia yang ditetapkan business within the Republic of Indonesia as determined by
oleh Dewan Komisaris. the Board of Commissioners.
6. Rapat Dewan Komisaris dapat dilakukan secara virtual 6. Board of Commissioners meetings may be held virtually using
dengan menggunakan sarana telekonferensi, video konferensi teleconferencing, video conferencing, or other electronic
atau melalui sarana media elektronik dan sistem komunikasi media and communication systems. This form of participation
lain. Bentuk partisipasi tersebut dianggap kehadiran secara is considered direct attendance at the meeting.
langsung dalam rapat.
7. Rapat Dewan Komisaris adalah sah dan berhak mengambil 7. Meeting of the Board of Commissioners is valid and has the
keputusan yang mengikat apabila dihadiri atau diwakili oleh right to make binding decisions if attended or represented
lebih dari setengah atau ½ (satu per dua) jumlah anggota by more than half, or ½ (one half), of the members of the
Dewan Komisaris. Dalam mata acara lain-lain, rapat Dewan Board of Commissioners. For other agenda items, a meeting
Komisaris tidak berhak mengambil keputusan kecuali semua of the Board of Commissioners has no right to make decisions
anggota Dewan Komisaris atau wakilnya yang sah hadir dan unless all members of the Board of Commissioners or their
menyetujui penambahan mata acara rapat. authorized representatives are present and agree to the
addition of the meeting agenda item.
8. Keputusan dalam rapat Dewan Komisaris diambil dengan 8. Decisions in the meeting of the Board of Commissioners
musyawarah untuk mufakat. Apabila melalui musyawarah are made by deliberation to reach consensus. In the event
tidak tercapai mufakat, maka keputusan rapat Dewan that consensus cannot be reached through deliberation,
Komisaris diambil dengan suara terbanyak. Apabila jumlah the decision in the meeting of the Board of Commissioners
suara yang setuju dan tidak setuju sama banyaknya, maka is made by majority vote. In the event that the number of
usul yang bersangkutan dianggap ditolak, kecuali mengenai votes for and against is equal, the proposal in question is
PT Pertamina Geothermal Energy Tbk
Page 289
Laporan Tahunan 2025 | 2025 Annual Report 287
diri orang akan ditentukan dengan undian secara tertutup. deemed rejected, except for matters concerning individuals,
Pemungutan suara mengenai diri orang dilakukan dengan which will be determined by a closed draw. Voting regarding
surat suara tertutup tanpa tanda tangan, sedangkan individuals is conducted by sealed, unsigned ballots, while
pemungutan suara mengenai hal-hal lain dilakukan secara voting on other matters is conducted verbally, unless the
lisan, kecuali Pimpinan rapat menentukan lain, tanpa ada Chairman of the meeting determines otherwise, without any
keberatan dari yang hadir. objection from those present.
Pelaksanaan Rapat Tahun 2025 Implementation of Meetings in 2025
Pelaksanaan Rapat Dewan Komisaris Implementation of Board of Commissioners
Meetings
Selama tahun 2025, Dewan Komisaris telah melakukan rapat In 2025, the Board of Commissioners held 20 internal meetings.
internal sebanyak 20 kali.
Agenda Rapat Internal Dewan Komisaris
Agenda for the Internal Meeting of the Board of Commissioners
Tanggal Nomor Risalah Rapat Agenda Rapat
No
Date Meeting Minutes Number Meeting Agenda
1 24 Januari 2025 RRK-001/DK/PGE/2025-S0 Isu Strategis Pembahasan pada Rapat Dewan Komisaris dan Direksi Kinerja
24 January 2025 Desember 2024
Strategic Issues Discussion at the December 2024 Board of Commissioners and
Board of Directors Performance Meeting
2 21 Februari 2024 RRK-002/DK/PGE/2025-S0 Penilaian kinerja Dewan Komisaris dan Komite Dewan Komisaris
21 February 2024 Performance assessment of the Board of Commissioners and the Board of
Commissioners Committees
3. 13 Maret 2025 RRK-003/DK/PGE/2025-S0 1. Penyampaian informasi Peraturan Menteri ESDM No.5 Tahun 2025 Perihal
13 March 2025 Pedoman Perjanjian Jual Beli Tenaga Listrik dari Pembangkit Tenaga Listrik yang
Memanfaatkan Sumber Energi Terbarukan
2. Perubahan ketua Komite Nominasi dan Remunerasi
3. Hasil penilaian kinerja Dewan Komisaris dan Komite Dewan Komisaris, serta
Usulan penilaian kinerja Direksi Tahun 2024
1. Submission of information regarding Minister of Energy and Mineral Resources
Regulation No. 5 of 2025 concerning Guidelines for Power Purchase
Agreements from Power Plants Utilizing Renewable Energy Sources
2. Changes to the Chairman of the Nomination and Remuneration Committee
3. Results of the performance assessment of the Board of Commissioners and the
Board of Commissioners Committees and proposal for the Board of Directors
performance assessments for 2024
4 26 Mei 2025 RRK-004/DK/PGE/2025-S0 Isu Strategis Pembahasan pada Rapat Dewan Komisaris dan Direksi Kinerja April
26 May 2025 2025
Strategic Issues Discussion at the April 2025 Board of Commissioners and Board of
Directors Performance Meeting
5 25 Juli 2025 RRK-005/DK/PGE/2025-S0 Isu Strategis Pembahasan pada Rapat Dewan Komisaris dan Direksi Kinerja Juni
25 July 2025 2025
Strategic Issues Discussion at the June 2025 Board of Commissioners and Board of
Directors Performance Meeting
6 21 Agustus 2025 RRK-007/DK/PGE/2025-S0 Perkenalan Komisaris Utama
21 August 2025 Introduction of the President Commissioner
7 22 Agustus 2025 RRK-008/DK/PGE/2025-S0 1. Perkenalan pengurus baru
22 August 2025 2. Perubahan ketua Komite Dewan Komisaris
3. Arahan komisaris utama, atas struktur baru Dewan Komisaris
1. Introduction of the new management
2. Changes to the Chairman of the Board of Commissioners Committee
3. Directions from the president commissioner regarding the new structure of the
Board of Commissioners
8 25 Agustus 2025 Isu Strategis Pembahasan pada Rapat Dewan Komisaris dan Direksi Kinerja Juli
25 August 2025 2025
RRK-009/DK/PGE/2025-S0
Strategic Issues Discussion at the July 2025 Board of Commissioners and Board of
Directors Performance Meeting
9 29 Agustus 2025 Pembahasan Tindak Lanjut Keputusan Rapat Dewan Komisaris dan Direksi Kinerja
29 August 2025 Juli 2025
RRK-011/DK/PGE/2025-S0
Discussion of Follow-up to Resolutions of the Board of Commissioners and Board of
Directors Meeting for July 2025
PT Pertamina Geothermal Energy Tbk
Page 290
288 Laporan Tahunan 2025 | 2025 Annual Report
Tanggal Nomor Risalah Rapat Agenda Rapat
No
Date Meeting Minutes Number Meeting Agenda
10 24 September 2025 Pembahasan Isu Strategis Utama Korporasi
RRK-013/DK/PGE/2025-S0
Discussion of Corporate Key Strategic Issues
11 3 Oktober 2025 Laporan Perkembangan Proyek Seulawah
RRK-014/DK/PGE/2025-S0
3 October 2025 Seulawah Project Progress Report
12 10 Oktober 2025 1. Finalisasi Telaah Persetujuan Final Investment Decision (FID) Proyek Lumut Balai
10 October 2025 Unit III
2. Finalisasi Telaah Persetujuan Shareholders Agreement (SHA) Proyek Seulawah
RRK-015/DK/PGE/2025-S0
1. Finalization of the Final Investment Decision (FID) Approval Review for the Lumut
Balai Unit III Project
2. Finalization of the Shareholders Agreement (SHA) Approval Review for the
Seulawah Project
13 17 Oktober 2025 Pembahasan Permohonan Persetujuan Shareholders Agreement (SHA)
17 October 2025 PT Geothermal Energi Seulawah (PT GES)
RRK-017/DK/PGE/2025-S0
Discussion of the Application for Approval of the Shareholders Agreement (SHA) of
PT Geothermal Energi Seulawah (PT GES)
14 20 Oktober 2025 Telaah dan Pembahasan Konsep Surat Persetujuan Shareholders Agreement (SHA)
20 October 2025 PT GES
RRK-018/DK/PGE/2025-S0
Review and Discussion of the Concept of the Shareholders Agreement (SHA)
Approval Letter for PT GES
15 23 Oktober 2025 Laporan Pembaruan Kegiatan Komite dan Kebijakan Material Non-Public
23 October 2025 Information (MNPI)
RRK-016/DK/PGE/2025-S0
Committee Activity Update Report and Material Non-Public Information (MNPI)
Policy
16 4 November 2025 1. Penyelesaian Dokumen Konfirmasi Lelang Wilayah Kerja Panas Bumi (WKP)
Telaga Ranu
2. Pembahasan Tindak Lanjut Shareholders Agreement (SHA) PT GES.
3. Persiapan Pelaksanaan Focus Group Discussion (FGD) BOC–BOD
4. Diskusi dan Arahan Komisaris Utama
RRK-019/DK/PGE/2025-S0
1. Completion of the Telaga Ranu Geothermal Working Area (WKP) Tender
Confirmation Documents
2. Discussion of Follow-up to the PT GES Shareholders Agreement (SHA).
3. Preparation for the BOC-BOD Focus Group Discussion (FGD).
4. Discussion and Direction from the President Commissioner
17 24 November 2025 1. Pembaruan Kegiatan Masing-Masing Komite
2. Pemaparan Hasil Management Walkthrough (MWT) Sibayak, Kamojang, dan
Karaha
RRK-020/DK/PGE/2025-S0
1. Update on Each Committee's Activities
2. Presentation of the Results of the Sibayak, Kamojang, and Karaha Management
Walkthroughs (MWT)
18 5 Desember 2025 Capaian Key Performance Indicator (KPI) Dewan Komisaris dan Komite
5 December 2025 RRK-021/SK/PGE/2025-S0 Key Performance Indicator (KPI) Achievements of the Board of Commissioners and
Committees
19 16 Desember 2025 Pemaparan Telaah Rencana Kerja dan Anggaran Perusahaan (RKAP)
RRK-022/SK/PGE/2025-S0
16 December 2025 Presentation of the Company's Work Plan and Budget Review (RKAP)
20 23 Desember 2025 Isu Strategis Pembahasan pada Rapat BOC – BOD Kinerja November 2025
RRK-023/SK/PGE/2025-S0
23 December 2025 Strategic Issues Discussion at the November 2025 BOC-BOD Performance Meeting
Pelaksanaan Rapat Gabungan Dewan Joint Meetings of the Board of Commissioners
Komisaris dan Direksi and the Board of Directors
Rapat Gabungan adalah salah satu bentuk komunikasi formal Joint Meetings are a form of formal communication held by the
yang dilakukan Dewan Komisaris bersama Direksi dalam rangka Board of Commissioners and the Board of Directors to carry
pelaksanaan fungsi dan tugas masing-masing Organ Perseroan. out the functions and duties of each Company organ. Joint
Pelaksanaan Rapat Gabungan merupakan forum penting dalam Meetings are an important forum for making decisions related to
mengambil keputusan-keputusan terkait aspek-aspek strategis strategic aspects of finance, operations, internal control systems,
keuangan, operasi, sistem pengendalian internal, kepatuhan, compliance, risk management, and governance.
manajemen risiko, dan tata kelola.
PT Pertamina Geothermal Energy Tbk
Page 291
Laporan Tahunan 2025 | 2025 Annual Report 289
Selama tahun 2025, Rapat Gabungan Dewan Komisaris dan In 2025, Joint Meetings of the Board of Commissioners and the
Direksi telah dilaksanakan sebanyak 12 (Dua Belas) kali. Board of Directors were held 12 (twelve) times.
Agenda Rapat Gabungan Dewan Komisaris dan Direksi
Agenda of the Joint Meeting of the Board of Commissioners and the Board of Directors
Tanggal Nomor Risalah Rapat Agenda Rapat
No
Date Meeting Minutes Number Meeting Agenda
1 24 Januari 2025 RRDK-001/DK/PGE/2025-S0 1. Tindak Lanjut Hasil Rapat Sebelumnya
24 January 2025 2. Executive Summary dan Kinerja Perusahaan Periode Desember 2024
1. Follow-up to the Results of the Previous Meeting
2. Executive Summary and Company Performance for the Period of
December 2024
2 24 Februari 2025 RRDK-002/DK/PGE/2025-S0 1. Tindak Lanjut Hasil Rapat Sebelumnya.
24 February 2025 2. Ringkasan Eksekutif dan Kinerja Perusahaan Per Januari 2025
3. Pembahasan peluang aksi korporasi perusahaan.
4. Pembaruan Terkait Pengembangan Proyek Green Hydrogen.
5. Pembaruan Progres Kerja Sama proyek co-generation dengan PT PLN
(Persero).
1. Follow-up to the Results of the Previous Meeting.
2. Executive Summary and Company Performance as of January 2025.
3. Discussion of corporate action opportunities.
4. Updates on the Development of the Green Hydrogen Project.
5. Updates on the Progress of the Co-generation Project Collaboration with
PT PLN (Persero).
3 21 Maret 2012 RRDK-003/DK/PGE/2025-S0 1. Pembaruan Status Wilayah Kerja Panas Bumi (WKP) Seulawah
21 March 2012 2. Pembaruan Progres Wilayah Kerja Panas Bumi (WKP) Lumut Balai Unit 2
3. Tindak Lanjut Hasil Rapat Sebelumnya
4. Ringkasan Eksekutif dan Kinerja Perusahaan Per Februari 2025
1. Status Update of the Seulawah Geothermal Working Area (WKP)
2. Progress Update of the Lumut Balai Unit 2 Geothermal Working Area
(WKP)
3. Follow-up to the Results of the Previous Meeting
4. Executive Summary and Company Performance as of February 2025
4 29 April 2025 RRDK-004/DK/PGE/2025-S0 1. Tindak Lanjut Hasil Rapat Sebelumnya
2. Kinerja Keuangan dan Operasional Periode Maret 2025
3. Pembaruan Potensi dan Rencana Kerja Sama
4. Optimalisasi Produksi Uap Menjadi Listrik di Area Kamojang dan
Lahendong, serta Steam Recovery di Area Karaha dan Ulubelu
5. Pembahasan Final Investment Decision (FID) Proyek Seulawah
1. Follow-up to the Results of the Previous Meeting
2. Financial and Operational Performance for March 2025 Period
3. Update on Potential and Collaboration Plans
4. Optimization of Steam Production to Electricity in the Kamojang and
Lahendong Areas, as well as Steam Recovery in the Karaha and Ulubelu
Areas
5. Discussion of the Final Investment Decision (FID) for the Seulawah Project
5 26 Mei 2025 RRDK-005/DK/PGE/2025-S0 1. Tindak Lanjut Hasil Rapat Sebelumnya
26 May 2025 2. Kinerja Keuangan dan Operasional Periode April 2025
3. Usulan Penetapan Penggunaan Laba Bersih Perseroan Tahun Buku 2024
4. Persiapan Penyelenggaraan Rapat Umum Pemegang Saham Tahunan
(RUPST)
1. Follow-up to the Results of the Previous Meeting
2. Financial and Operational Performance for April 2025 Period
3. Proposed Determination of the Use of the Company's Net Profit for the
2024 Fiscal Year
4. Preparation for the Annual General Meeting of Shareholders (AGM)
PT Pertamina Geothermal Energy Tbk
Page 292
290 Laporan Tahunan 2025 | 2025 Annual Report
Tanggal Nomor Risalah Rapat Agenda Rapat
No
Date Meeting Minutes Number Meeting Agenda
6 24 Juni 2025 RRDK-006/DK/PGE/2025-S0 1. Tindak Lanjut Hasil Rapat Sebelumnya
24 June 2025 2. Kinerja Keuangan dan Operasional Periode Mei 2025
3. Pembaruan Progres Proyek Kotamobagu, Gunung Tiga, Sibayak, Ulubelu,
Hululais, serta Lahendong Unit 7 dan 8
4. Pembahasan Aksi Mitigasi Menjaga Pencapaian Target Net Profit After
Tax (NPAT)
5. Identifikasi dan Pelaksanaan Program Quick Wins dalam Mendukung
Pencapaian Kinerja Tahun 2025
1. Follow-up to the Results of the Previous Meeting
2. Financial and Operational Performance for May 2025 Period
3. Progress Update on the Kotamobagu, Gunung Tiga, Sibayak, Ulubelu,
Hululais, and Lahendong Units 7 and 8 Projects
4. Discussion of Mitigation Actions to Maintain the Net Profit After Tax
(NPAT) Target Achievement
5. Identification and Implementation of Quick Win Programs to Support the
Achievement of 2025 Performance
7 25 Juli 2025 RRDK-007/DK/PGE/2025-S0 1. Tindak Lanjut Hasil Rapat Sebelumnya
25 July 2025 2. Kinerja Keuangan dan Operasional Periode Juni 2025
3. Pembaruan Progres Proyek Kotamobagu, Bukit Daun, Lahendong Unit
7 dan 8, serta Sibayak, termasuk Percepatan Steam Recovery di Area
Karaha dan Ulubelu
1. Follow-up on the Results of the Previous Meeting
2. Financial and Operational Performance for the Period of June 2025
3. Progress Update on the Kotamobagu, Bukit Daun, Lahendong Units 7 and
8, and Sibayak Projects, including Accelerated Steam Recovery in the
Karaha and Ulubelu Areas
8 25 Agustus 2025 RRDK-008/DK/PGE/2025-S0 1. Tindak Lanjut Hasil Rapat Sebelumnya
25 August 2025 2. Kinerja Keuangan dan Operasional Periode Juli 2025
3. Laporan Perkembangan Implementasi MESOP Tahap IV
4. Penguatan Fungsi Internal Audit dan Manajemen Risiko
5. Inisiatif Efisiensi Biaya Operasional Perseroan
1. Follow-up to the Results of the Previous Meeting
2. Financial and Operational Performance for the Period of July 2025
3. Progress Report on the Implementation of MESOP Phase IV
4. Strengthening the Internal Audit and Risk Management Functions
5. The Company's Operational Cost Efficiency Initiatives
9 29 September 2025 RRDK-009/DK/PGE/2025-S0 1. Tindak Lanjut Hasil Rapat Sebelumnya
2. Kinerja Keuangan dan Operasional Periode Agustus 2025
3. Pembaruan Program Steam Recovery di Area Ulubelu dan Karaha
4. Pembaruan Progres Proyek Lumut Balai Unit 3 dan 4, Seulawah,
Kotamobagu, Lahendong Unit 7 dan 8, Hululais Extension, serta Sungai
Penuh.
1. Follow-up on the Results of the Previous Meeting
2. Financial and Operational Performance for the Period of August 2025
3. Update on the Steam Recovery Program in the Ulubelu and Karaha Areas
4. Update on the Progress of the Lumut Balai Units 3 and 4, Seulawah,
Kotamobagu, Lahendong Units 7 and 8, Hululais Extension, and Sungai
Penuh Projects.
10 5 November 2025 RRDK-010/DK/PGE/2025-S0 1. Tindak Lanjut Hasil Rapat Sebelumnya
2. Kinerja Keuangan dan Operasional Periode September 2025
3. Pembaruan Progres Proyek Strategis, meliputi Seulawah Agam,
Kotamobagu, Program Steam Recovery di Area Ulubelu dan Karaha,
Sibayak, serta Percepatan Proyek Pasca Persetujuan Final Investment
Decision Lumut Balai Unit 3.
1. Follow-up to the Results of the Previous Meeting
2. Financial and Operational Performance for the Period of September
2025
3. Update on Strategic Project Progress, including Seulawah Agam,
Kotamobagu, the Steam Recovery Program in the Ulubelu and Karaha
Areas, and Sibayak, as well as Project Acceleration Following the Final
Investment Decision Approval for Lumut Balai Unit 3.
PT Pertamina Geothermal Energy Tbk
Page 293
Laporan Tahunan 2025 | 2025 Annual Report 291
Tanggal Nomor Risalah Rapat Agenda Rapat
No
Date Meeting Minutes Number Meeting Agenda
11 25 November 2025 RRDK-011/DK/PGE/2025-S0 1. Tindak Lanjut Hasil Rapat Sebelumnya
2. Ringkasan Eksekutif dan Kinerja Perusahaan Periode Oktober 2025,
meliputi Realisasi Key Performance Indicator (KPI), Produksi Uap dan
Listrik per Wilayah Kerja Panas Bumi (WKP), dan Upaya Efisiensi
Perseroan
3. Pembaruan Progres Proyek dan Pengembangan Bisnis, mencakup
Seulawah, Kotamobagu, Lumut Balai Unit 3, Penyelesaian Permasalahan
Sibayak, serta Kajian Model Bisnis Off-Grid
1. Follow-up on the Results of the Previous Meeting
2. Executive Summary and Company Performance for the Period of October
2025, including Key Performance Indicator (KPI) Realization, Steam and
Electricity Production per Geothermal Working Area (WKP), and the
Company's Efficiency Efforts
3. Project Progress and Business Development Update, covering Seulawah,
Kotamobagu, Lumut Balai Unit 3, Resolution of the Sibayak Issue, and
Off-Grid Business Model Review
12 23 Desember 2025 RRDK-012/DK/PGE/2025-S0 1. Tindak Lanjut Hasil Rapat Sebelumnya
23 December 2025 2. Ringkasan Eksekutif dan Kinerja Perusahaan Periode November 2025
3. Pembaruan Progres Proyek dan Pengembangan Bisnis, meliputi
Seulawah, Kotamobagu, Bukit Daun, Sungai Penuh, Sibayak, Lumut Balai
Unit 3, Inisiatif Off-Grid, serta Gas to Grid (GTG)
4. Kesiapan Suplai Uap dalam Mendukung Keandalan Operasi Selama
Periode Natal dan Tahun Baru (Nataru).
1. Follow-up on the Results of the Previous Meeting
2. Executive Summary and Company Performance for the Period of
November 2025
3. Project Progress and Business Development Updates, including Seulawah,
Kotamobagu, Bukit Daun, Sungai Penuh, Sibayak, Lumut Balai Unit 3,
Off-Grid Initiatives, and Gas to Grid (GTG).
4. Steam Supply Readiness to Support Operational Reliability During the
Christmas and New Year (Nataru) Period.
Frekuensi dan Kehadiran Rapat Internal Dewan Komisaris dan Rapat Gabungan
Frequency and Attendance of Internal Meetings of the Board of Commissioners and Joint Meetings
Rapat Internal Dewan Komisaris
Rapat Gabungan
Internal Meeting of the Board of
Joint Meeting
Commissioners
Nama Jabatan
Name Position Jumlah Jumlah
Rapat Kehadiran Rapat Kehadiran
% %
Number of Attendance Number of Attendance
Meetings Meetings
Komisaris Utama
Gigih Udi Atmo 20 19 95% 12 12 100%
President Commissioner
Komisaris
John Anis 20 10 50% 12 11 91,6%
Commissioner
Komisaris Independen
Mohammad Firmansyah*) Independent 14 14 100% 5 5 100%
Commissioner
Komisaris Independen
Abdul Musawir Yahya Independent 20 9 45% 12 12 100%
Commissioner
Komisaris
Abdulla Zayed 20 6 30% 12 7 58,3%
Commissioner
*) Mohammad Firmansyah diangkat sebagai Komisaris Independen efektif per tanggal 28 Agustus 2025
*) Mohammad Firmansyah was appointed as Independent Commissioner effective 28 August 2025
PT Pertamina Geothermal Energy Tbk
Page 294
292 Laporan Tahunan 2025 | 2025 Annual Report
Rencana Rapat Dewan Komisaris Tahun 2026 2026 Board of Commissioners Meeting Plan
Dewan Komisaris dibantu oleh Sekretaris Dewan Komisaris The Board of Commissioners, assisted by the Secretary of the
telah menyusun rencana rapat internal Dewan Komisaris yang Board of Commissioners, has prepared a plan for scheduled
terjadwal untuk tahun 2026. internal Board of Commissioners meetings for 2026.
Periode Agenda Rapat
Period Meeting Agenda
Januari Minggu Ketiga Review dan Evaluasi Kinerja periode Desember 2025
January Third Week Performance Review and Evaluation for the period December 2025
Minggu Pertama Penilaian Kinerja Tahun Buku 2025 BOC, BOD, dan Organ Dewan Komisaris
Februari First Week Performance Assessment for the 2025 Financial Year of the BOC, BOD, and Board of Commissioners Organs
February Minggu Ketiga Review dan Evaluasi Kinerja periode Januari 2026
Third Week Performance Review and Evaluation for January 2026
Minggu Kedua Evaluasi Laporan Keuangan Audited Tahun Buku 2025
Maret Second Week Evaluation of the Audited Financial Statements for Financial Year 2025
March Minggu Ketiga Review dan Evaluasi Kinerja periode Februari 2026
Third Week Performance Review and Evaluation for February 2026
Minggu Kedua Review dan Evaluasi Kinerja periode Maret 2026
April
Second Week Performance Review and Evaluation for March 2026
Minggu Pertama Monitoring dan evaluasi kinerja Kantor Akuntan Publik (KAP)
Mei First Week Public Accounting Firm (KAP) Performance Monitoring and Evaluation
May Minggu Ketiga Review dan Evaluasi Kinerja periode April 2026
Third Week Performance Review and Evaluation for April 2026
Juni Minggu Ketiga Review dan Evaluasi Kinerja periode Mei 2026
June Third Week Performance Review and Evaluation for May 2026
Minggu Pertama Rekomendasi Penunjukan Kantor Akuntan Publik (KAP)
Juli First Week Recommendation for Appointment of a Public Accounting Firm (KAP)
July Minggu Ketiga Review dan Evaluasi Kinerja periode Juni 2026
Third Week Performance Review and Evaluation for June 2026
Agustus Minggu Ketiga Review dan Evaluasi Kinerja periode Juli 2026
August Third Week Performance Review and Evaluation for July 2026
Minggu Pertama pembahasan Isu Strategis Utama Perseroan
First Week Discussion of the Company's Key Strategic Issues
September
Minggu Ketiga Review dan Evaluasi Kinerja periode Agustus 2026
Third Week Performance Review and Evaluation for August 2026
• Pembahasan Internal Control over Financial Reporting (ICOFR)
Oktober Minggu Kedua • Review dan Evaluasi Kinerja periode September 2026
October Second Week • Discussion of Internal Control over Financial Reporting (ICOFR)
• Performance Review and Evaluation for September 2026
Minggu Pertama Pembahasan Rencana Kerja dan Anggaran Perusahaan (RKAP) serta Rencana Kerja dan Anggaran (RKA)
First Week Tahun 2027
Discussion of the Company's Work Plan and Budget (RKAP) and the 2027 Work Plan and Budget (RKA)
November
Minggu Ketiga Pembahasan Prognosa dan Proyeksi Kinerja Akhir Tahun Review dan Evaluasi Kinerja periode Oktober 2026
Third Week Discussion of Year-End Performance Prognosis and Projections Performance Review and Evaluation for October
2026
Minggu Pertama Telaah dan Tanggapan atas Rencana Kerja dan Anggaran Perusahaan (RKAP) Tahun 2027
Desember First Week Review and Response to the 2027 Company's Work Plan and Budget (RKAP)
December Minggu Kedua Review dan Evaluasi Kinerja periode November 2026
Second Week Performance Review and Evaluation for November 2026
PT Pertamina Geothermal Energy Tbk
Page 295
Laporan Tahunan 2025 | 2025 Annual Report 293
PELAKSANAAN TUGAS DAN IMPLEMENTATION OF THE BOARD
TANGGUNGJAWAB DEWAN KOMISARIS OF COMMISSIONERS' DUTIES AND
RESPONSIBILITIES
Frekuensi dan Tata Cara Pemberian Frequency and Procedures for Providing
Nasihat Dewan Komisaris Advice to the Board of Commissioners
Dewan Komisaris dalam menjalankan fungsi pengawasannya In carrying out its supervisory function, the Board of Commissioners
dapat dilakukan setiap saat termasuk memberikan nasihat may provide advice or suggestions to the Board of Directors at
atau saran kepada Direksi. Mekanisme pelaksanaannya dapat any time. This can be done through, among other things:
dilakukan melalui, antara lain:
1. Permintaan keterangan secara tertulis kepada Direksi atas 1. Requesting written information from the Board of Directors
suatu permasalahan atau isu yang terjadi. regarding any problems or issues that arise.
2. Pemberian pendapat atau arahan dalam rapat Dewan 2. Providing opinions or guidance in meetings between the
Komisaris dengan Direksi atau rapat- rapat lain yang dihadiri Board of Commissioners and the Board of Directors or other
oleh anggota Dewan Komisaris. meetings attended by members of the Board of Commissioners.
3. Kunjungan ke Divisi/Departemen/Bagian/Lokasi Perseroan 3. Visiting the Company's Divisions/Departments/Sections/
dalam rangka memastikan pelaksanaan operasional Locations to ensure the Company's operational activities,
Perseroan seperti produksi, distribusi, pemasaran, sumber such as production, distribution, marketing, human resources,
daya manusia, keuangan dan aspek lainnya berjalan secara finance, and other aspects, are running effectively.
efektif.
4. Pemberian tanggapan atas laporan berkala yang diberikan 4. Providing responses to periodic reports submitted by the
oleh Direksi. Board of Directors.
Rapat merupakan mekanisme formal dan terjadwal dalam Meetings are a formal and scheduled mechanism for carrying
melaksanakan tugas dan tanggung jawab sebagai Dewan out the duties and responsibilities of the Board of Commissioners.
Komisaris. Rapat Dewan Komisaris terdiri dari: Board of Commissioners meetings consist of:
1. Rapat Internal Dewan Komisaris 1. Internal Board of Commissioners Meetings
2. Rapat Gabungan Dewan Komisaris dan Direksi 2. Joint Meetings of the Board of Commissioners and the Board
of Directors
3. Rapat Umum Pemegang Saham 3. General Meeting of Shareholders
4. Rapat Komite 4. Committee Meetings
Pemberian nasihat atau rekomendasi juga dapat dilakukan Advice or recommendations can also be provided through
melalui komunikasi di luar rapat formal antara Dewan Komisaris communication outside of formal meetings between the Board of
dan Direksi sehingga isu atau permasalahan yang ada termasuk Commissioners and the Board of Directors, ensuring that existing
proyek yang sedang berjalan dapat ditangani dengan cepat issues or problems, including ongoing projects, can be addressed
untuk ditindaklanjuti dengan pengambilan Keputusan. quickly and followed up with decisions.
Selama tahun 2025, Dewan Komisaris telah melaksanakan tugas In 2025, the Board of Commissioners carried out its duties and
dan tanggung jawabnya melalui pemberian rekomendasi dan responsibilities by providing recommendations and direction to
arahan kepada Direksi, persetujuan dan pengesahan sesuai the Board of Directors and obtaining approvals and ratifications
ketentuan perundang-undangan. Berikut rekapitulasi pelaksanaan in accordance with statutory provisions. The following is a
tugas dan tanggungjawab Dewan Komisaris selama tahun 2025. summary of the implementation of the Board of Commissioners'
duties and responsibilities during 2025.
Kegiatan Pelaksanaan Tahun 2025
Activity Implementation in 2025
Rapat Internal Dewan Komisaris 20 kali
Internal Meetings of the Board of Commissioners 20 times
Rapat Gabungan Dewan Komisaris dan Direksi 12 kali
Joint Meetings of the Board of Commissioners and the Board Directors 12 times
Rapat Umum Pemegang Saham 2 kali
General Meeting of Shareholders 2 times
Rapat Gabungan dengan Komite dan Fungsi 52 kali
Joint Meetings with Committees and Functions 52 times
PT Pertamina Geothermal Energy Tbk
Page 296
294 Laporan Tahunan 2025 | 2025 Annual Report
Kegiatan Pelaksanaan Tahun 2025
Activity Implementation in 2025
Pemberian Persetujuan, Rekomendasi/Tanggapan 31 kali
Approvals, Recommendations/Responses 31 times
Kunjungan Kerja 12 kali
Working Visits 12 times
Rekomendasi/Tanggapan dan Recommendations/Responses
Persetujuan Dewan Komisaris Tahun and Approvals of the Board of
2025 Commissioners in 2025
Selama tahun 2025, Dewan Komisaris telah memberikan 17 In 2025, the Board of Commissioners issued 17 (seventeen)
(tujuh belas) rekomendasi dan 12 (dua belas) persetujuan antara recommendations and 12 (twelve) approvals, including the
lain sebagai berikut: following:
Tanggal Jenis Rekomendasi/Persetujuan
No
Date Type Recommendation/Approval
1 21 Januari 2025 Persetujuan Persetujuan atas implementasi MESOP (Management and Employee Stock Ownership Program) Tahap
21 January 2025 Approval III
Approval of the implementation of MESOP (Management and Employee Stock Ownership Program)
Phase III
2 5 Maret 2025 Rekomendasi Tanggapan Dewan Komisaris atas Permohonan Persetujuan rencana aksi korporasi Perseroan
5 March 2025 Recommendation Response of the Board of Commissioners to the Request for Approval of the Company's Corporate
Action Plan
3 21 Maret 2025 Rekomendasi Hasil Penilaian Kinerja Dewan Komisaris dan Komite, serta Usulan Penilaian Kinerja Direksi Tahun
21 March 2025 Recommendation 2024
Results of the Performance Assessment of the Board of Commissioners and Committees, and the
Proposal for the Performance Assessment of the Board of Directors for 2024
4 21 Maret 2025 Persetujuan Persetujuan Dewan Komisaris Terhadap Usulan Rencana Kerja dan Anggaran Perusahaan (RKAP)
21 March 2025 Approval Tahun 2025
Board of Commissioners' Approval of the Proposal for 2025 Company Work Plan and Budget (RKAP)
5 25 April 2025 Persetujuan Persetujuan Final Investment Decision/FID Investasi Proyek Eksplorasi Seulawah
Approval Final Investment Decision/FID Approval for Seulawah Exploration Project Investment
6 28 April 2025 Rekomendasi Hasil Pengawasan Management Walkthrough (MWT) Wilayah Kerja Panas Bumi Kamojang dan
Recommendation Karaha
Results of Management Walkthrough (MWT) Monitoring of the Kamojang and Karaha Geothermal
Working Areas
7 29 April 2025 Rekomendasi Penunjukan Pimpinan Rapat Umum Pemegang Saham Tahunan Tahun Buku 2024
Recommendation Appointment of Chairman of the Annual General Meeting of Shareholders for the 2024 Financial Year
8 16 Mei 2025 Rekomendasi Telaah Laporan Keuangan Audited Tahun Buku 2024
16 May 2025 Recommendation Review of Audited Financial Statements for Financial Year 2024
9 16 Mei 2025 Rekomendasi Telaah Laporan Tahunan Perseroan
16 May 2025 Recommendation Review of the Company's Annual Report
10 16 Mei 2025 Persetujuan Persetujuan Usulan Penetapan Remunerasi Tahun 2025 dan Tantiem Tahun 2024 Bagi Direksi dan
16 May 2025 Approval Dewan Komisaris
Approval of the Proposal for Determination of Remuneration for 2025 and Bonuses for the Board of
Directors and Board of Commissioners for 2024
11 16 Mei 2025 Rekomendasi Evaluasi dan Rekomendasi Terhadap Pelaksanaan Pemberian Jasa Audit Atas Informasi Keuangan
16 May 2025 Recommendation Tahun Buku 2024
Evaluation and Recommendations Regarding the Implementation of Audit Services for Financial
Information for Financial Year 2024
12 27 Mei 2025 Rekomendasi Laporan Kegiatan Hasil Pengawasan Dewan Komisaris Tahun buku 2024
27 May 2025 Recommendation Report on the Results of the Board of Commissioners' Supervisory Activities for Financial Year 2024
13 28 Mei 2025 Rekomendasi Rekomendasi Usulan Penetapan Penggunaan Laba Bersih Perseroan Tahun Buku 2024 Yang Akan
28 May 2025 Recommendation Dimintakan Persetujuan Pemegang Saham Pada Rapat Umum Pemegang Saham Tahunan Perseroan
Tahun Buku 2024
Proposed Recommendation on the Allocation of the Company’s Net Profit for the 2024 Fiscal Year,
to Be Submitted for Shareholder Approval at the Company’s 2024 Annual General Meeting of
Shareholders
14 28 Mei 2025 Rekomendasi Tanggapan Dewan Komisaris atas Mata Acara Rapat Umum Pemegang Saham Tahunan (RUPST)
28 May 2025 Recommendation 2024
Board of Commissioners' Response to the Agenda of the 2024 Annual General Meeting of
Shareholders (AGMS)
PT Pertamina Geothermal Energy Tbk
Page 297
Laporan Tahunan 2025 | 2025 Annual Report 295
Tanggal Jenis Rekomendasi/Persetujuan
No
Date Type Recommendation/Approval
15 3 Juni 2025 Persetujuan Persetujuan Awal atas Rencana Implementasi MESOP Tahap IV
3 June 2025 Approval Initial Approval of the MESOP Phase IV Implementation Plan
16 20 Juni 2025 Persetujuan Persetujuan atas Pemberhentian dan Pengangkatan Chief Audit Executive (CAE)
20 June 2025 Approval Approval of the Dismissal and Appointment of the Chief Audit Executive (CAE)
17 9 Juli 2025 Persetujuan Persetujuan Dewan Komisaris terhadap Usulan Penyesuaian Pertamina Reference Level (PRL)
9 July 2025 Approval Organisasi Direktorat Operasi
Board of Commissioners' Approval of the Proposal for Adjustment to the Pertamina Reference Level
(PRL) Organization of the Operations Directorate
18 30 Juli 2025 Rekomendasi Arahan Dewan Komisaris atas Steam Recovery WKP Karaha Ulubelu
30 July 2025 Recommendation Board of Commissioners' Direction on Steam Recovery for the Karaha Ulubelu Working Area
19 5 Agustus 2025 Persetujuan Penunjukan Pimpinan Rapat Umum Pemegang Saham Luar Biasa
5 August 2025 Approval Appointment of the Chairman of the Extraordinary General Meeting of Shareholders
20 19 Agustus 2025 Persetujuan Persetujuan Final Investment Decision (FID) Proyek Kotamobagu
19 August 2025 Approval Approval of the Final Investment Decision (FID) for the Kotamobagu Project
21 26 Agustus 2025 Rekomendasi Rekomendasi Atas Pengaturan Hak Opsi MESOP Tahap I
26 August 2025 Recommendation Recommendation on the Arrangement of MESOP Phase I Option Rights
22 27 Agustus 2025 Rekomendasi Penetapan Kantor Akuntan Publik (KAP) untuk Jasa Audit Laporan Keuangan Konsolidasian
27 August 2025 Recommendation Appointment of a Public Accounting Firm (KAP) for the Audit of the Consolidated Financial Statements
23 26 September 2025 Rekomendasi Rekomendasi Persetujuan atas Usulan Pelaksanaan Transaksi Lindung Nilai
Recommendation Recommendation for Approval of the Proposal for Implementation of Hedging Transactions
24 20 Oktober 2025 Persetujuan Persetujuan Penandatanganan Amandemen Perjanjian Pemegang Saham PT Geothermal Energi
20 October 2025 Approval Seulawah
Approval of the Signing of Amendments to the Shareholder Agreement of PT Geothermal Energi
Seulawah
25 6 November 2025 Rekomendasi Penjelasan dan Tanggapan Dewan Komisaris atas Lelang Wilayah Kerja Panas Bumi (WKP)
Recommendation Explanation and Response from the Board of Commissioners regarding the Tender of the Geothermal
Working Area (WKP)
26 14 November 2025 Rekomendasi Tindak Lanjut Persetujuan Dewan Komisaris atas Penandatanganan Amandemen Perjanjian Pemegang
Recommendation Saham PT Geothermal Energi Seulawah
Follow-up on the Board of Commissioners' Approval of the Signing of Amendments to the Shareholder
Agreement of PT Geothermal Energi Seulawah
27 27 November 2025 Rekomendasi Tanggapan terkait Surat Pengunduran Diri Direktur Utama
Recommendation Response to the President Director's Resignation Letter
28 2 Desember 2025 Persetujuan Persetujuan Final Investment Decision (FID) Investasi Proyek Pengembangan Lumut Balai Unit III
2 December 2025 Approval Approval of the Final Investment Decision (FID) for the Lumut Balai Unit III Development Project
Investment
29 30 Desember 2025 Persetujuan Persetujuan Revisi Rencana Kerja dan Anggaran Perusahaan (RKAP) Tahun 2025
30 December 2025 Approval Approval of the Revised 2025 Company Work Plan and Budget (RKAP)
PENGEMBANGAN KOMPETENSI DEWAN COMPETENCY DEVELOPMENT FOR THE
KOMISARIS BOARD OF COMMISSIONERS
Untuk meningkatkan pengetahuan dan kompetensi anggota To enhance the knowledge and competency of members of the
Dewan Komisaris serta wawasan yang selaras dengan Board of Commissioners, as well as their insight into industry
perkembangan industri, Perseroan memberikan kesempatan developments, the Company provides opportunities for members
kepada anggota Dewan Komisaris untuk mengikuti pelatihan. of the Board of Commissioners to participate in training. The
Pelatihan yang telah diikuti anggota Dewan Komisaris selama training attended by members of the Board of Commissioners
tahun 2025 dapat dilihat pada bagian pelatihan Bab Profil in 2025 can be seen in the training section of the Board of
Dewan Komisaris dalam Laporan Tahunan ini. Commissioners Profile Chapter in this Annual Report.
PENILAIAN KINERJA DEWAN KOMISARIS BOARD OF COMMISSIONERS
PERFORMANCE ASSESSMENT
Dewan Komisaris melakukan penilaian secara berkala secara The Board of Commissioners conducts periodic, objective
objektif untuk menentukan efektivitas Dewan Komisaris dan assessments to determine the effectiveness of the Board of
setiap individu komisaris yang didasarkan pada tolok ukur atau Commissioners and each individual commissioner, based on
PT Pertamina Geothermal Energy Tbk
Page 298
296 Laporan Tahunan 2025 | 2025 Annual Report
kriteria penilaian yang spesifik, terukur, dapat dicapai, dan specific, measurable, achievable, and relevant benchmarks or
relevan. Evaluasi tahunan disampaikan oleh Dewan Komisaris assessment criteria. Annual evaluations are submitted by the
kepada RUPS. Board of Commissioners to the GMS.
Evaluasi kinerja Dewan Komisaris secara kolegial dan individu The Board of Commissioners’ performance evaluations, both
dilakukan oleh pemegang saham melalui RUPS. Secara umum, collegial and individual, are conducted by shareholders
kinerja Dewan Komisaris ditentukan berdasarkan tugas kewajiban through the GMS. In general, the performance of the Board of
yang tercantum dalam peraturan perundang-undangan yang Commissioners is determined based on the duties and obligations
berlaku dan Anggaran Dasar Perseroan maupun amanat stated in applicable laws and regulations, the Company’s Articles
pemegang saham. Hasil evaluasi kinerja tersebut merupakan of Association, and the shareholders’ mandate. The results of
sarana penilaian serta peningkatan efektivitas Dewan Komisaris. these performance evaluations serve as a means of assessing
and improving the effectiveness of the Board of Commissioners.
Penilaian kinerja Dewan Komisaris dilakukan oleh pemegang The Board of Commissioners’ performance assessment is
saham melalui RUPS berdasarkan hasil pencapaian kinerja yang conducted by shareholders through the GMS based on the
terdapat pada indikator kinerja utama atau Key Performance performance achievements outlined in the Key Performance
Indicator (KPI) serta Rencana Kerja Dewan Komisaris. Indicators (KPIs) and the Board of Commissioners’ Work Plan.
Prosedur Pelaksanaan Penilaian Kinerja Board of Commissioners Performance
Dewan Komisaris Assessment Implementation Procedure
1. Dewan Komisaris menetapkan KPI dan Rencana Kerja Dewan 1. The Board of Commissioners establishes the KPIs and Work
Komisaris sesuai tugas dan kewajiban yang tercantum pada Plan of the Board of Commissioners in accordance with
Board Manual, Anggaran Dasar Perseroan, peraturan the duties and obligations stated in the Board Manual, the
perundang-undangan maupun amanat pemegang saham Company’s Articles of Association, laws and regulations, and
melalui RUPS. the shareholder mandate through the GMS.
2. Dewan Komisaris melakukan penilaian mandiri (self- 2. The Board of Commissioners conducts a self-assessment of the
assessment) atas kinerja masing-masing anggota Dewan performance of each member of the Board of Commissioners
Komisaris dan Dewan Komisaris secara kolegial. and the Board of Commissioners collegially.
3. RUPS menilai kinerja Dewan Komisaris. 3. The GMS assesses the performance of the Board of
Commissioners.
Penilaian terhadap kinerja Dewan Komisaris dilakukan The assessment of the Board of Commissioners’ performance,
secara kolektif dan individual merupakan bagian tak conducted collectively and individually, is an integral part
terpisahkan dari skema kompensasi dan pemberian insentif. of the compensation and incentive scheme. The results of
Hasil evaluasi ini juga menjadi faktor utama pertimbangan this evaluation are also a primary factor for shareholders
pemegang saham dalam menentukan pemberhentian dan/ to consider when deciding on the dismissal and/or
atau pengangkatan Kembali anggota Dewan Komisaris. reappointment of members of the Board of Commissioners.
KRITERIA DAN HASIL PENILAIAN KINERJA BOARD OF COMMISSIONERS
DEWAN KOMISARIS PERFORMANCE ASSESSMENT CRITERIA
AND RESULTS
Kriteria Penilaian Dewan Komisaris Board of Commissioners Assessment
Criteria
Kriteria penilaian kinerja Dewan Komisaris ditetapkan oleh Rapat The performance assessment criteria for the Board of
Umum Pemegang Saham (RUPS) sebagai berikut: Commissioners are determined by the General Meeting of
Shareholders (GMS) as follows:
1. Tingkat kehadiran dalam rapat Dewan Komisaris dan rapat 1. Attendance at Board of Commissioners and Committee
Komite. meetings.
2. Kontribusi dalam proses pengawasan dan pemberian nasihat 2. Contribution to the supervisory process and providing advice
kepada manajemen Perseroan. to Company management.
3. Peningkatan kompetensi. 3. Competency improvement.
4. Kunjungan kerja. 4. Working visits.
5. Penilaian tata nilai Dewan Komisaris. 5. Assessment of the Board of Commissioners’ values.
PT Pertamina Geothermal Energy Tbk
Page 299
Laporan Tahunan 2025 | 2025 Annual Report 297
Kinerja Dewan Komisaris
Performance of the Board of Commissioners
Anggota Dewan Komisaris
Penilaian Member of the Board of Commissioners
No.
Assessment Mohammad Abdul Musawir
Gigi Udi Atmo John Anis*) Abdulla Zayed
Firmansyah Yahya
1 Pencapaian KPI 106% 98% 96% 67%
KPI Achievement
2 Tingkatan AKHLAK Behaviour 4,42 4,71 4,39 4,41
(1-5)
AKHLAK Behavior Level (1-5) -
3 Komposisi Nilai Kerja 97,20% 96,10% 93,60% 77,60%
Work Value Composition
4 Hasil Predikat Kinerja High High High Low
Performance Predicate Results
*)
Penilaian dilakukan oleh PT Pertamina (Persero) berdasarkan jabatan sebagai Direktur Utama Pertamina NRE.
*)
The evaluation was conducted by PT Pertamina (Persero) based on his position as President Director of Pertamina NRE.
Pihak yang melakukan Penilaian Parties Conducting Assessments
Penilaian kinerja Dewan Komisaris dilakukan secara The Board of Commissioners’ performance assessment is
self-assessment dan hasil penilaian disampaikan kepada conducted through a self-assessment, and the results are
pemegang saham melalui Rapat Umum Pemegang Saham. communicated to shareholders through the General Meeting of
Shareholders.
PENILAIAN KINERJA KOMITE DI BAWAH PERFORMANCE ASSESSMENT OF
DEWAN KOMISARIS COMMITTEE UNDER THE BOARD OF
COMMISSIONERS
Dewan Komisaris memiliki 3 (tiga) komite yang membantu The Board of Commissioners has three committees that assist in
pelaksanaan tugas dan tanggung jawabnya yaitu Komite Audit, carrying out its duties and responsibilities: the Audit Committee,
Komite Nominasi dan Remunerasi serta Komite Investasi dan the Nomination and Remuneration Committee, and the Investment
Manajemen Risiko. and Risk Management Committee.
Penilaian kinerja komite dilakukan setiap 1 (satu) kali dalam Committee performance assessments are conducted once a year.
setahun, seluruh komite telah menjalankan tugas pengawasan All committees have carried out their supervisory duties and
dan memberikan rekomendasi kepada Dewan Komisaris dengan provided recommendations to the Board of Commissioners while
menjunjung tinggi standar kompetensi dan kualitas yang tinggi. upholding high standards of competence and quality.
Metode dan Kriteria Penilaian Assessment Methods and Criteria
Penilaian terhadap Komite dilakukan melalui mekanisme Committee assessments are conducted through a self-assessment
penilaian mandiri (self-assessment) masing-masing komite mechanism for each committee based on established indicators
berdasarkan indikator atau kriteria yang telah ditetapkan. or criteria.
Kriteria penilaian komite mencakup: The committee’s assessment criteria
include:
1. Kepatuhan terhadap Regulasi dan Tata Kelola Perusahaan 1. Compliance with Regulations and Good Corporate
(GCG). Governance (GCG)
• Kepatuhan terhadap POJK, Permen BUMN, dan ketentuan • Compliance with the Financial Services Authority (OJK), the
internal perusahaan terkait tugas dan tanggung jawab Minister of State-Owned Enterprises Regulation, and internal
Komite. company regulations related to the Committee’s duties and
responsibilities.
•
Pelaksanaan tugas sesuai dengan Piagam Komite • Implementation of duties in accordance with the
(Committee Charter) dan peraturan Perusahaan. Committee Charter and Company regulations.
2. Efektivitas pelaksanaan tugas dan tanggung jawab. 2. Effectiveness of implementation of duties and responsibilities.
• Keterlibatan dalam mendukung tugas pengawasan • Involvement in supporting the Board of Commissioners’
Dewan Komisaris terhadap Direksi. supervisory duties towards the Board of Directors.
PT Pertamina Geothermal Energy Tbk
Page 300
298 Laporan Tahunan 2025 | 2025 Annual Report
• Pemberian rekomendasi yang berbasis analisis dan •Providing recommendations based on in-depth analysis
kajian yang mendalam. and studies.
• Kecepatan dan ketepatan dalam merespons isu-isu • Promptness and accuracy in responding to strategic
strategis yang menjadi fokus Perusahaan. issues that are the Company’s focus.
• Kontribusi terhadap Keputusan Strategis Perusahaan. • Contribution to the Company’s Strategic Decisions.
• Peran dalam memberikan masukan terhadap kebijakan • Role in providing input on strategic policies, including
strategis, termasuk aspek keuangan, audit, manajemen aspects of finance, audit, risk management, and
risiko, serta nominasi dan remunerasi. nomination and remuneration.
• Kualitas laporan dan rekomendasi yang disampaikan • Quality of reports and recommendations submitted to the
kepada Dewan Komisaris. Board of Commissioners.
3. Frekuensi dan Kualitas Rapat Komite serta site visit. 3. Frequency and Quality of Committee Meetings and Site
Visits.
• Intensitas dan efektivitas rapat yang diselenggarakan • Intensity and effectiveness of meetings held by the
oleh Komite. Committee.
• Partisipasi aktif anggota Komite dalam diskusi dan • Active participation of Committee members in discussions
pengambilan keputusan. and decision-making.
• Management walkthrough pendampingan Dewan • Management walkthroughs assisting the Board of
Komisaris dalam pengawasan. Commissioners in their oversight.
4. Kompetensi dan Profesionalisme 4. Competence and Professionalism
• Kapasitas anggota Komite dalam memahami industri, • Committee members’ capacity to understand the industry,
regulasi, dan risiko yang dihadapi Perusahaan. regulations, and risks faced by the Company.
• Keterlibatan dalam program pengembangan kompetensi • Involvement in competency development programs in
sesuai ketentuan yang berlaku. accordance with applicable regulations.
5. Tindak Lanjut terhadap Arahan Dewan Komisaris 5. Follow-up on Board of Commissioners Directives
• Implementasi dan monitoring rekomendasi yang • Implementation and monitoring of recommendations
diberikan oleh Dewan Komisaris. provided by the Board of Commissioners.
• Koordinasi dengan unit terkait dalam memastikan • Coordination with relevant units to ensure the successful
keberhasilan implementasi rekomendasi tersebut. implementation of these recommendations.
Dewan Komisaris melakukan penilaian kinerja Komite The Board of Commissioners assesses the Committee’s
berdasarkan laporan kerja, efektivitas pelaksanaan tugas, dan performance based on work reports, the effectiveness of duty
kontribusi terhadap pencapaian tujuan Perusahaan. Evaluasi implementation, and contributions to achieving the Company’s
kinerja Komite dilakukan secara berkala dan merupakan bagian objectives. Committee performance evaluations are conducted
dari Laporan Berkala Dewan Komisaris. periodically and are included in the Board of Commissioners’
Periodic Report.
Komite di Bawah Dewan Komisaris Pencapaian KPI Tahun 2025 Predikat Kinerja Tahun 2025
Committees Under the Board of Commissioners 2025 KPI Achievements 2025 Performance Predicate
Komite Audit
119% High
Audit Committee
Komite Nominasi dan Remunerasi
113% High
Nomination and Remuneration Committee
Komite Investasi dan Manajemen Risiko
116% High
Investment and Risk Management Committee
KOMITE DEWAN KOMISARIS BOARD OF COMMISSIONERS
COMMITTEES
KOMITE AUDIT AUDIT COMMITTEE
Komite Audit merupakan komite yang wajib dibentuk The Audit Committee is a committee established by law and
berdasarkan peraturan dan perundang undangan yang regulations to assist in carrying out the duties and responsibilities
membantu pelaksanaan tugas dan tanggung jawab Dewan of the Board of Commissioners, including financial information;
Komisaris antara lain terkait informasi keuangan, kepatuhan compliance with laws and regulations; internal and external
terhadap peraturan perundang-undangan, pemeriksaan internal audits, including the appointment of Public Accountants (external
dan eksternal termasuk penunjukan Akuntan Publik (auditor auditors); and internal control systems.
eksternal) dan sistem pengendalian internal.
PT Pertamina Geothermal Energy Tbk
Page 301
Laporan Tahunan 2025 | 2025 Annual Report 299
Dasar Hukum Legal Basis
Pembentukan Komite Audit dilakukan berdasarkan peraturan The establishment of the Audit Committee is based on the
dan perundang-undangan sebagai berikut: following laws and regulations:
• Undang-Undang Republik Indonesia No. 40 Tahun 2007 • Law of the Republic of Indonesia No. 40 of 2007 concerning
tentang Perseroan Terbatas. Limited Liability Companies.
• Undang-Undang No. 19 Tahun 2003 tentang BUMN. • Law No. 19 of 2003 concerning State-Owned Enterprises
• Peraturan Menteri Negara Badan Usaha Milik Negara • Regulation of the Minister of State-Owned Enterprise
Nomor PER-06/MBU/04/2021 tahun 2021 tentang Number PER-06/MBU/04/2021 of 2021 concerning
Perubahan Atas Peraturan Menteri Badan Usaha Milik Amendments to Regulation of the Minister of of State-
Negara Nomor PER-12/ MBU/2012 tanggal 24 Agustus Owned Enterprise Number PER-12/MBU/2012 dated 24
2012 tentang Organ Pendukung Dewan Komisaris/Dewan August 2012, concerning Supporting Organs of the Board
Pengawas Badan Usaha Milik Negara. of Commissioners/Supervisory Board of State-Owned
Enterprises.
• Peraturan Otoritas Jasa Keuangan Nomor • Financial Services Authority Regulation Number
33/POJK.04/2014 tentang Direksi dan Dewan Komisaris 33/POJK.04/2014 concerning the Board of Directors and
Emiten atau Perusahaan Publik. Board of Commissioners of Issuers or Public Companies.
• Peraturan Otoritas Jasa Keuangan Nomor 55/POJK.04/2015 • Financial Services Authority Regulation Number 55/
tentang Pembentukan dan Pedoman Pelaksanaan Kerja POJK.04/2015 concerning the Establishment and Guidelines
Komite Audit. for the Implementation of the Audit Committee.
Pedoman dan Tata Tertib Kerja (Piagam) Audit Committee Charter
Komite Audit
Komite Audit memiliki Piagam atau Pedoman dan Tata Tertib The Audit Committee has a Charter that serves as the basis for
Kerja yang menjadi landasan dalam melaksanakan tugas dan carrying out its duties and responsibilities. The Charter was
tanggung jawabnya. Piagam tersebut disahkan melalui Surat ratified through the Decree of the Board of Commissioners,
Keputusan Dewan Komisaris yaitu Surat Keputusan No. Kpts- namely Decree No. Kpts-016/DK/PGE/2025-S0 dated
016/DK/PGE/2025-S0 tanggal 2 Desember 2025 Tentang 2 December 2025, concerning the Determination and
Penetapan dan Pengangkatan Anggota Komite Audit Dewan Appointment of Members of the Audit Committee of the Board of
Komisaris PT Pertamina Geothermal Energy Tbk. Commissioners of PT Pertamina Geothermal Energy Tbk.
Piagam Komite Audit mengatur hal-hal sebagai berikut: The Audit Committee Charter regulates the following matters:
a. komposisi, struktur, masa tugas dan persyaratan keanggotaan a. composition, structure, term of office, and membership
requirements
b. tugas dan tanggung jawab serta wewenang b. duties, responsibilities, and authorities
c. masa tugas Komite Audit c. term of office of the Audit Committee
d. tata cara dan prosedur kerja d. work rules and procedures
e. kebijakan penyelenggaraan rapat e. meeting management policies
f. sistem pelaporan kegiatan f. activity reporting system
g. penanganan pengaduan atau pelaporan sehubungan g. handling complaints or reports regarding alleged violations
dugaan pelanggaran terkait pelaporan keuangan related to financial reporting
Tanggung Jawab Komite Audit Audit Committee Responsibilities
Tugas dan tanggung jawab Komite Audit diatur dalam Pedoman The duties and responsibilities of the Audit Committee are
dan Tata Tertib Kerja Komite Audit yang mencakup antara lain: regulated in the Audit Committee Charter, which includes, among
other things:
a. Menelaah informasi keuangan yang akan dikeluarkan a. Reviewing financial information to be released by the
Perseroan kepada publik dan/atau pihak otoritas, antara Company to the public and/or authorities, including financial
lain laporan keuangan, proyeksi dan laporan lainnya yang statements, projections, and other reports related to the
terkait dengan informasi keuangan Perseroan. Company’s financial information.
b. Menelaah ketaatan terhadap peraturan perundang-undangan b. Reviewing compliance with laws and regulations related to
yang berhubungan dengan kegiatan Perseroan. the Company’s activities.
c. Memberikan pendapat independen dalam hal terjadi c. Providing an independent opinion in the event of a dissent of
perbedaan pendapat antara manajemen dan akuntan terkait opinion between management and the accountant regarding
jasa yang diberikan. the services provided.
PT Pertamina Geothermal Energy Tbk
Page 302
300 Laporan Tahunan 2025 | 2025 Annual Report
d. Memberikan rekomendasi kepada Dewan Komisaris d. Providing recommendations to the Board of Commissioners
mengenai penunjukan Akuntan Publik yang didasarkan pada regarding the appointment of a Public Accountant based on
independensi, ruang lingkup penugasan, dan imbalan jasa. independence, scope of the assignment, and fees.
e. Mendiskusikan rencana audit yang meliputi sifat dan ruang e. Discussing the audit plan, including the nature and scope of
lingkup audit, menelaah kecukupan pemeriksaan dengan the audit; reviewing the adequacy of the audit; considering
mempertimbangkan semua risiko penting, dan memastikan all significant risks; and ensuring coordination if more than
koordinasi bila ditugaskan lebih dari satu Akuntan Publik. one Public Accountant is assigned.
f. Menelaah perencanaan, pelaksanaan dan mengawasi f. Review the planning and implementation and supervise the
pelaksanaan tindak lanjut oleh Direksi atas temuan auditor Board of Directors’ follow-up actions on internal and external
internal maupun eksternal. auditor findings.
g. Menelaah dan melaporkan kepada Dewan Komisaris atas g. Review and report to the Board of Commissioners any
pengaduan yang berkaitan dengan proses akuntansi dan complaints related to the Company’s accounting and
pelaporan keuangan Perseroan, termasuk apabila terdapat financial reporting processes, including any suspected errors
dugaan adanya kesalahan keputusan rapat Direksi atau in Board of Directors meeting resolutions or irregularities in
penyimpangan pelaksanaan hasil Keputusan rapat Direksi. the implementation of Board of Directors meeting resolutions.
h. Apabila diperlukan, Komite Audit dapat melakukan h. If necessary, the Audit Committee may conduct an audit either
pemeriksaan baik oleh Komite Audit sendiri maupun dengan by itself or by assigning a third party. The audit report must be
menugaskan pihak ketiga. Laporan hasil pemeriksaan harus submitted to the Board of Commissioners no later than 2 (two)
diserahkan kepada Dewan Komisaris selambat-lambatnya 2 business days after completion.
(dua) hari kerja setelah selesainya laporan.
i. Menelaah dan memberikan saran kepada Dewan Komisaris i. Review and provide advice to the Board of Commissioners
terkait dengan adanya potensi benturan kepentingan regarding potential conflicts of interest in the Company,
Perseroan, yaitu dalam hal terdapat perbedaan antara namely in cases where there is a dissent between the
kepentingan ekonomis Perseroan dengan kepentingan Company’s economic interests and the personal economic
ekonomis pribadi pemilik, anggota Dewan Komisaris, interests of owners, members of the Board of Commissioners,
anggota Direksi, Pejabat Eksekutif, dan/atau pihak terkait members of the Board of Directors, Executive Officers, and/
dengan Perseroan. or parties related to the Company.
j. Membantu Dewan Komisaris dalam melakukan pengawasan j. Assist the Board of Commissioners in actively supervising the
aktif terhadap fungsi kepatuhan. compliance function.
k. Mengevaluasi pelaksanaan Fungsi Kepatuhan Perseroan k. Evaluate the implementation of the Company’s Compliance
terhadap peraturan internal dan peraturan perundang- Function against internal regulations and laws related to the
undangan yang berhubungan dengan kegiatan Perseroan Company’s activities at least twice a year.
paling kurang dua kali dalam satu tahun.
l. Memberikan saran-saran dalam rangka meningkatkan l. Provide suggestions to improve the quality of the Company’s
kualitas fungsi kepatuhan Perseroan. compliance function.
m. Memberikan rekomendasi kepada Dewan Komisaris m. Provide recommendations to the Board of Commissioners
mengenai pengangkatan, pemberhentian serta penilaian regarding the appointment, dismissal, and performance
kinerja Kepala Unit Audit Internal. assessment of the Head of the Internal Audit Unit.
n. Menjaga kerahasiaan dokumen, data dan informasi n. Maintain the confidentiality of Company documents, data,
Perseroan. and information.
o. Melakukan penelaahan terhadap aktivitas pelaksanaan o. Review the risk management implementation activities carried
manajemen risiko yang dilakukan oleh Direksi. out by the Board of Directors.
Komite Audit memiliki wewenang untuk: The Audit Committee has the authority to:
a. Mengakses dokumen, data dan informasi Perseroan tentang a. Access Company documents, data, and information regarding
pekerja, dana, aset serta sumber daya Perseroan yang employees, funds, assets, and resources as needed.
diperlukan.
b. Berkomunikasi langsung dengan pekerja Perseroan termasuk b. Communicate directly with Company employees, including
Direksi dan/atau Senior Eksekutif/Officer dan pihak yang the Board of Directors and/or Senior Executives/Officers,
menjalankan fungsi audit internal, manajemen risiko, serta and parties performing internal audit, risk management, and
akuntan terkait tugas dan tanggung jawab Komite. accounting functions regarding the Committee’s duties and
responsibilities.
c. Dapat melibatkan pihak independen di luar Komite Audit c. May involve independent parties outside the Audit Committee
yang diperlukan untuk membantu pelaksanaan tugasnya (jika as needed to assist in the implementation of its duties (if
diperlukan). necessary).
d. Melakukan kewenangan lain yang diberikan oleh Dewan d. Exercise other authority granted by the Board of
Komisaris. Commissioners.
PT Pertamina Geothermal Energy Tbk
Page 303
Laporan Tahunan 2025 | 2025 Annual Report 301
Komposisi dan Masa Jabatan Composition and Term of Office
Komposisi anggota Komite Audit paling sedikit terdiri dari The Audit Committee shall consist of at least 3 (three) members,
3 (tiga) orang yang berasal dari Komisaris Independen dan consisting of Independent Commissioners and external parties
pihak eksternal (Pihak Independen) yang tidak terafiliasi (Independent Parties) not affiliated with the Company. The Audit
dengan Perseroan. Komite Audit wajib diketuai oleh Komisaris Committee shall be chaired by an Independent Commissioner.
Independen.
Sehubungan dengan perkembangan organisasi Perseroantelah Due to the Company’s organizational development, there were
terjadi telah perubahan komposisi anggota Komite Audit. Berikut changes to the composition of the Audit Committee. The following
perubahan susunan anggota Komite Audit yang terjadi selama are changes to the Audit Committee’s membership that occurred
tahun 2025. in 2025.
21 Maret 2025 18 September 2025 6 Oktober 2025 2 Desember 2025
March 21, 2025 September 18, 2025 October 6, 2025 December 2, 2025
Abdulla Zayed Mohammad Firmansyah Mohammad Firmansyah Mohammad Firmansyah
(Ketua/Komisaris Independen) (Ketua/Komisaris Independen) (Ketua/Komisaris Independen) (Ketua/Komisaris Independen)
(Chairman/Independent (Chairman/Independent (Chairman/Independent (Chairman/Independent
Commissioner) Commissioner) Commissioner) Commissioner)
Qatro Romandhi Abdulla Zayed Abdulla Zayed Abdulla Zayed
(Anggota/Pihak Independen) (Anggota/Komisaris) (Anggota/Komisaris) (Anggota/Komisaris)
(Member/Independent Party) (Member/Commissioner) (Member/Commissioner) (Member/Commissioner)
Rafi Rakhmadhan Qatro Romandhi Budi Herdiyanto Budi Herdiyanto
(Anggota/Pihak Independen) (Anggota/Pihak Independen) (Anggota/Pihak Independen) (Anggota/Pihak Independen)
(Member/Independent Party) (Member/Independent Party) (Member/Independent Party) (Member/Independent Party)
Rafi Rakhmadhan Rafi Rakhmadhan Agus Waluyo
(Anggota/Pihak Independen) (Anggota/Pihak Independen) (Anggota/Pihak Independen)
(Member/Independent Party) (Member/Independent Party) (Member/Independent Party)
Perubahan komposisi anggota Komite Audit telah diungkapkan Changes in the composition of the Audit Committee members
dalam website Perseroan, komposisi Komite Audit per 31 have been disclosed on the Company’s website, the composition
Desember 2025 adalah sebagai berikut: of the Audit Committee as of December 31, 2025 is as follows:
Nama Jabatan Dasar Penunjukan Masa Jabatan
No.
Name Position Basis of Appointment Term of Office
1 Mohammad Ketua/Komisaris Surat Keputusan Dewan Komisaris No. Kpts-009/DK/ 18 September 2025 -
Firmansyah Independen PGE/2025-S0 tentang Penetapan dan Pengangkatan 19 September 2028
Chairman/Independent Komite Audit Dewan Komisaris PT Pertamina Geothermal
Commissioner Energy Tbk tanggal 18 September 2025
Decree of the Board of Commissioners No. Kpts-009/
DK/PGE/2025-S0 concerning the Determination and
Appointment of the Audit Committee of the Board of
Commissioners of PT Pertamina Geothermal Energy Tbk
dated September 18, 2025
2 Abdulla Zayed Anggota/Komisaris Surat Keputusan Dewan Komisaris No. Kpts-009/DK/ 18 September 2025 -
Members/ PGE/2025-S0 tentang Penetapan dan Pengangkatan 19 September 2028
Commissioners Komite Audit Dewan Komisaris PT Pertamina Geothermal
Energy Tbk tanggal 18 September 2025
Decree of the Board of Commissioners No. Kpts-009/
DK/PGE/2025-S0 concerning the Determination and
Appointment of the Audit Committee of the Board of
Commissioners of PT Pertamina Geothermal Energy Tbk
dated September 18, 2025
3 Budi Herdiyanto Anggota/Pihak luar Surat Keputusan Dewan Komisaris No. Kpts-012/DK/ 6 Oktober 2025 -
Perseroan PGE/2025-S0 tentang Penetapan dan Pengangkatan 5 Oktober 2028
Member/External Party Komite Audit Dewan Komisaris PT Pertamina Geothermal October 6, 2025 -
of the Company Energy Tbk tanggal 7 Oktober 2025 October 5, 2028
Decree of the Board of Commissioners No. Kpts-012/
DK/PGE/2025-S0 concerning the Determination and
Appointment of the Audit Committee of the Board of
Commissioners of PT Pertamina Geothermal Energy Tbk
dated October 7, 2025
PT Pertamina Geothermal Energy Tbk
Page 304
302 Laporan Tahunan 2025 | 2025 Annual Report
Nama Jabatan Dasar Penunjukan Masa Jabatan
No.
Name Position Basis of Appointment Term of Office
4 Agus Waluyo Anggota/Pihak luar Surat Keputusan Dewan Komisaris No. Kpts-016/DK/ 2 Desember 2025 -
Perseroan PGE/2025-S0 tentang Penetapan dan Pengangkatan 1 Desember 2028
Member/External Party Komite Audit Dewan Komisaris PT Pertamina Geothermal December 2, 2025 -
of the Company Energy Tbk tanggal 2 Desember 2025 December 1, 2028
Decree of the Board of Commissioners No. Kpts-016/
DK/PGE/2025-S0 concerning the Determination and
Appointment of the Audit Committee of the Board of
Commissioners of PT Pertamina Geothermal Energy Tbk
dated December 2, 2025
Komposisi anggota Komite Audit Perseroan telah memenuhi The composition of the Company’s Audit Committee complies with
ketentuan dan standar yang berlaku yaitu terdiri dari mayoritas applicable regulations and standards, consisting of a majority of
Komisaris Independen dan Pihak Independen serta diketuai oleh Independent Commissioners and Independent Parties, and the
komite merupakan Komisaris Independen. committee is chaired by an Independent Commissioner.
Mengacu pada Peraturan Otoritas Jasa Keuangan Nomor In accordance with Financial Services Authority Regulation No.
55/POJK.04/2015 tentang Pembentukan dan Pedoman 55/POJK.04/2015 concerning the Establishment and Guidelines
Pelaksanaan Kerja Komite Audit, masa tugas anggota Komite for the Implementation of the Audit Committee, the term of office
Audit tidak boleh lebih lama dari masa jabatan Dewan Komisaris of Audit Committee members may not exceed the term of office
sebagaimana diatur dalam Anggaran Dasar dan dapat dipilih of the Board of Commissioners as governed in the Articles of
kembali hanya untuk 1 (satu) periode berikutnya. Masa jabatan Association and may be re-elected for only one subsequent
seluruh anggota Komite Audit Perseroan telah memenuhi term. The terms of office of all members of the Company’s Audit
ketentuan yang berlaku. Committee comply with applicable regulations.
Profil Anggota Komite Profile of Committee Member
Profil anggota Komite Audit yang merupakan Komisaris Perseroan The profiles of the Audit Committee members who are also
yaitu: Commissioners of the Company are:
• Bapak Mohammad Firmansyah sebagai Komisaris • Mr. Mohammad Firmansyah as Independent Commissioner
Independen
• Bapak Abdullah Zayed sebagai Komisaris • Mr. Abdullah Zayed as Commissioner
Dijelaskan pada bagian Profil Dewan Komisaris dalam Laporan This is described in the Board of Commissioners Profile section of
Tahunan ini. this Annual Report.
PT Pertamina Geothermal Energy Tbk
Page 305
Laporan Tahunan 2025 | 2025 Annual Report 303
Usia | Age 48 tahun | 48 years old
Kewarganegaraan Indonesia | Indonesian
Nationality
Domisili | Domicile Depok
Riwayat Pendidikan • Sarjana Manajemen Keuangan, Universitas Indonesia
Educational Background • Diploma Akuntansi, Politeknik Institusi Teknologi Bandung
• Bachelor of Financial Management, University of Indonesia
• Diploma in Accounting, Bandung Institute of Technology
Polytechnic
Rangkap Jabatan Koordinator Pelayanan dan Bimbingan Usaha Panas Bumi
Concurrent Position Direktorat Panas Bumi - Direktorat Jenderal Energi Baru,
Terbarukan dan Konservasi Energi, Kementrian ESDM
(2023-sekarang)
Coordinator of Geothermal Business Services and Guidance,
Directorate of Geothermal Energy - Directorate General of
Renewable Energy and Energy Conservation, Ministry of Energy
and Mineral Resources (2023-present)
Pengalaman Kerja • Koordinator Pelayanan dan Bimbingan Usaha Panas Bumi,
Work Experience Direktorat Panas Bumi - Direktorat Jenderal Energi Baru,
Terbarukan dan Konservasi Energi, Kementerian ESDM (2023)
• Koordinator Pengawasan Eksplorasi dan Eksploitasi Panas
Bumi, Direktorat Panas Bumi - Direktorat Jenderal Energi Baru,
Terbarukan dan Konservasi Energi, Kementerian ESDM (2020)
• Kasubdit Pengawasan Eksplorasi dan Eksploitasi Panas bumi,
Direktorat Panas Bumi - Direktorat Jenderal Energi Baru,
Terbarukan dan Konservasi Energi (2017)
• Kasubdit Pelayanan dan Bimbingan Usaha Panas Bumi,
Direktorat Jenderal Energi Baru, Terbarukan dan Konservasi
Energi (2015)
• Kasi Investasi Panas Bumi, Direktorat Panas Bumi - Direktorat
Jenderal Energi Baru, Terbarukan dan Konservasi Energi,
Kementerian ESDM (2014)
• Kepala Seksi Pengawasan Eksploitasi Panas Bumi - Direktorat
Jenderal Energi Baru, Terbarukan dan Konservasi Energi,
Kementerian ESDM (2011)
• Kepala Seksi Pengawasan Eksploitasi Panas Bumi, Direktorat
Pembinaan Pengusahaan Panas Bumi dan Pengelolaan Air
Tanah - Direktorat Jenderal Mineral Batubara dan Panas Bumi
Budi Kementerian ESDM (2009)
Herdiyanto • Coordinator of Geothermal Business Services and Guidance,
Pihak Independen Geothermal Directorate - Directorate General of New,
Independent Party Renewable, and Energy Conservation, Ministry of Energy and
Mineral Resources (2023)
• Coordinator of Geothermal Exploration and Exploitation
Supervision, Geothermal Directorate - Directorate General
of New, Renewable, and Energy Conservation, Ministry of
Energy and Mineral Resources (2020)
• Deputy Director for Geothermal Exploration and Exploitation
Supervision, Geothermal Directorate - Directorate General
of New, Renewable, and Energy Conservation, Ministry of
Energy and Mineral Resources (2017)
• Deputy Director for Geothermal Business Services and
Guidance, Directorate General of New, Renewable, and
Energy Conservation (2015)
• Head of the Geothermal Investment Section, Geothermal
Directorate - Directorate General of New, Renewable,
and Energy Conservation, Ministry of Energy and Mineral
Resources (2014)
• Head of the Geothermal Exploitation Supervision Section
- Directorate General of New, Renewable, and Energy
Conservation, Ministry of Energy and Mineral Resources
(2011)
• Head of the Geothermal Exploitation Supervision Section,
Directorate of Geothermal Business Development and
Groundwater Management - Directorate General of Minerals,
Coal, and Geothermal Energy, Ministry of Energy and Mineral
Resources (2009)
PT Pertamina Geothermal Energy Tbk
Page 306
304 Laporan Tahunan 2025 | 2025 Annual Report
Usia | Age 52 tahun | 52 years old
Kewarganegaraan Indonesia | Indonesian
Citizenship
Domisili | Domicile Bogor
Riwayat Pendidikan • Sarjana Akuntansi, STIE Widya Wiwaha
Educational Background • Diploma Akuntansi, Sekolah Tinggi Akuntansi Negara
• Bachelor of Accounting, Widya Wiwaha College of Economics
• Diploma in Accounting, State College of Accountancy
Rangkap Jabatan Auditor Ahli Madya – Badan Pengaturan BUMN (2022-sekarang)
Concurrent Position
Senior Auditor – State-Owned Enterprises Regulatory Agency
(2022-present)
Pengalaman Kerja • Auditor Ahli Madya - Kementerian BUMN (2022 – sekarang)
Work Experience • Komite Audit - Perum Jasa Tirta II Tahun (2021 - 2025)
• Auditor Ahli Muda - Kementerian BUMN (2020 – 2022)
• Komite SMRI - PT Semen Indonesia (Persero) Tbk (2019 -
2021)
• Komite Audit - PT Angkasa Pura I (Persero) (2015 - 2019)
• Auditor Muda - Kementerian BUMN (2015 – 2020)
• Auditor pada Badan Pengawasan Keuangan dan
Pembangunan (BPKP) (1994 - 2015)
• Senior Auditor - Ministry of State-Owned Enterprises (2022 –
present)
• Audit Committee - Perum Jasa Tirta II (2021 - 2025)
• Junior Auditor - Ministry of State-Owned Enterprises (2020 –
2022)
• SMRI Committee - PT Semen Indonesia (Persero) Tbk (2019–
2021)
• Audit Committee - PT Angkasa Pura I (Persero) (2015–2019)
• Junior Auditor - Ministry of State-Owned Enterprises (2015–
2020)
• Auditor at the Financial and Development Supervisory Agency
(BPKP) (1994–2015)
Agus Waluyo
Pihak Independen
Independent Party
Sertifikasi Profesi Professional Certification
Dalam rangka mendukung pelaksanaan tugas dan tanggung To support the implementation of the Audit Committee's duties
jawab Komite Audit, seluruh anggota Komite Audit mengikuti and responsibilities, all members of the Audit Committee have
pelatihan dan telah memiliki Comprehensive Professional Training participated in training and completed the Comprehensive
Program for Certified Risk Professional (CRP). Professional Training Program for Certified Risk Professionals
(CRP).
Independensi Komite Audit Audit Committee Independence
Seluruh anggota Komite Audit telah menyatakan independensinya, All members of the Audit Committee have declared their
yang menegaskan bahwa mereka tidak memiliki hubungan independence, confirming that they have no management
kepengurusan, kepemilikan saham, maupun hubungan keluarga relationships, share ownership, or second-degree familial
hingga derajat kedua dengan anggota Dewan Komisaris, relationships with any member of the Board of Commissioners,
Direksi, maupun Pemegang Saham Pengendali. Board of Directors, or Controlling Shareholders.
PT Pertamina Geothermal Energy Tbk
Page 307
Laporan Tahunan 2025 | 2025 Annual Report 305
Anggota Komite Audit Perseroan merupakan individu profesional Members of the Company's Audit Committee are professional
yang tidak memiliki hubungan dengan Perseroan sebagaimana individuals with no relationships with the Company, as required by
yang disyaratkan dalam Peraturan Otoritas Jasa Keuangan Financial Services Authority Regulation No. 55/POJK.04/2015
No. 55/POJK.04/2015 tanggal 23 Desember 2015 tentang dated December 23, 2015, concerning the Establishment
Pembentukan dan Pedoman Pelaksanaan Komite Audit, serta and Implementation Guidelines for Audit Committees, and
Peraturan Menteri Negara BUMN No. PER-3/MBU/03/2023 Regulation of the Minister of State-Owned Enterprises No. PER-3/
tentang Organ dan Sumber Daya Manusia Badan Usaha Milik MBU/03/2023 concerning the Organs and Human Resources
Negara. Seluruh anggota Komite Audit telah menyatakan of State-Owned Enterprises. All members of the Audit Committee
independesinya sebagaimana pada tabel berikut ini. have declared their independence, as shown in the following
table.
Pernyataan Independensi Muhammad
No. Abdulla Zayed Budi Herdiyanto Agus Waluyo
Statement of Independence Firmansyah
1 Tidak bekerja atau memiliki wewenang untuk
merencanakan, memimpin, mengendalikan, atau
mengawasi kegiatan Perseroan dalam 6 bulan
terakhir.
√ √ √ √
Does not work or have the authority to plan, lead,
control, or supervise the Company's activities within
the last 6 months.
2 Tidak secara langsung maupun tidak langsung
memiliki saham di Perseroan.
√ √ √ √
Does not directly or indirectly own shares in the
Company.
3 Tidak memiliki hubungan afiliasi dengan Perseroan
atau pemegang saham utama/ pengendali atau
salah satu anggota Dewan Komisaris atau Direksi.
√ √ √ √
Does not have any affiliated relationship with the
Company or the major/controlling shareholders
or any member of the Board of Commissioners or
Board of Directors.
4 Tidak memiliki hubungan kerja atau profesional
secara langsung maupun tidak langsung dengan
Perseroan.
√ √ √ √
Does not have any direct or indirect working or
professional relationship with the Company.
RAPAT KOMITE COMMITTEE MEETING
Kebijakan Rapat Meeting Policy
Komite Audit mengadakan rapat paling sedikit 1 (satu) kali The Audit Committee shall hold meetings at least once every
dalam 3 (tiga) bulan. Rapat Komite Audit dapat diselenggarakan three months. Audit Committee meetings may be held if attended
apabila dihadiri oleh paling sedikit 51% dari jumlah anggota by at least 51% of the committee members, including one
komite termasuk 1 (satu) orang Komisaris Independen. Rapat Independent Commissioner. Meetings may be held in person or
dapat diselenggarakan dengan kehadiran secara fisik maupun via teleconference, video conference, or other electronic media.
nonfisik melalui telekonferensi, video konferensi, atau sarana Meetings with physical attendance shall be held at least twice a
media elektronik lainnya. Rapat dengan kehadiran secara fisik year.
dilaksanakan paling sedikit 2 (dua) kali dalam 1 (satu) tahun.
Keputusan rapat komite diambil berdasarkan musyawarah untuk Committee meeting resolutions are made by deliberation to
mufakat atau suara terbanyak jika tidak tercapai mufakat. Hasil achieve consensus or by majority vote if consensus cannot be
rapat komite dituangkan dalam risalah rapat dan ditandatangani reached. The results of committee meetings are recorded in
oleh seluruh anggota Komite Audit yang hadir untuk disampaikan minutes of meetings and signed by all members of the Audit
kepada Dewan Komisaris dan didistribusikan kepada seluruh Committee present, submitted to the Board of Commissioners and
anggota Komite Audit. distributed to all members of the Audit Committee.
PT Pertamina Geothermal Energy Tbk
Page 308
306 Laporan Tahunan 2025 | 2025 Annual Report
Frekuensi dan Tingkat Kehadiran Rapat Audit Committee Meetings Frequency
Komite Audit and Attendance Level
Selama tahun 2025, Komite Audit telah melakukan rapat internal In 2025, the Audit Committee held 13 (thirteen) internal meetings,
sebanyak 13 (tiga belas) kali dengan tingkat kehadiran masing- with the attendance levels of each member as follows:
masing anggota sebagai berikut.
Tingkat Kehadiran Rapat Komite Audit
Audit Committee Meeting Attendance Level
Nama Jabatan Jumlah Rapat Tingkat Kehadiran Persentase (%)
No
Name Position Number of Meeting Attendance Level Percentage (%)
1 Mohammad Firmansyah1) Ketua 100%
6 6
Chairman
2 Abdulla Zayed Anggota 38,4%
13 5
Member
3 Budi Herdiyanto 2) Anggota 100%
4 4
Member
4 Agus Waluyo 3) Anggota 100%
3 3
Member
1) Menjabat sebagai anggota Komite Audit efektif per tanggal 18 September 2025.
2) Menjabat sebagai anggota Komite Audit efektif per tanggal 6 Oktober 2025 menggantikan Qatro Romandhi yang menjabat pada 01 September 2021 - 06 Oktober 2025.
3) Menjabat sebagai anggota Komite Audit efetktif per tanggal 24 November 2025 menggantikan Rafi Rakhmadhan yang menjabat pada 01 Februari 2024 - 02 Desember 2025.
1) Served as a member of the Audit Committee effective 18 September 2025.
2) Served as a member of the Audit Committee effective 6 October 2025, replacing Qatro Romandhi, who served from 1 September 2021 to 6 October 2025.
3) Served as a member of the Audit Committee effective 24 November 2025, replacing Rafi Rakhmadhan, who served from 1 February 2024 to 2 December 2025.
Pelaksanaan Kegiatan tahun 2025 Implementation of Activities in 2025
Komite Audit menyampaikan laporan kepada Dewan Komisaris The Audit Committee submitted a report to the Board of
atas setiap penugasan yang diberikan. Selama tahun 2025, Commissioners on each assignment assigned. In 2025, the Audit
Komite Audit telah melaksanakan kegiatan sebagai berikut: Committee carried out the following activities:
1. Mengkaji laporan keuangan tahun 2024, proyeksi dan 1. Reviewed the 2024 financial statements, projections, and
laporan lainnya yang terkait dengan informasi keuangan other reports related to the Company’s financial information.
Perseroan.
2. Mengkaji ruang lingkup pelaksanaan audit oleh auditor 2. Reviewed the scope of the audit conducted by the external
eksternal dan mengevaluasi efektivitas pelaksanaannya. auditor and evaluated its effectiveness.
3. Mengkaji rencana dan ruang lingkup audit internal dan 3. Reviewed the internal audit plan and scope and oversaw the
melakukan pengawasan atas tindak lanjut Direksi terhadap Board of Directors’ follow-up on internal audit findings.
temuan audit internal.
4. Mengkaji pemeriksaan audit internal tahun 2025 dan 4. Reviewed the 2025 internal audit and the effectiveness of its
efektivitas pelaksanaan pemeriksaan audit internal. implementation.
5. Mengevaluasi efektivitas pengendalian internal 5. Evaluated the effectiveness of internal controls.
6. Memberikan rekomendasi kepada Dewan Komisaris atas 6. Provided recommendations to the Board of Commissioners
pengangkatan Kepala Unit Audit internal. regarding the appointment of the Head of the Internal Audit
Unit.
7. Melakukan kunjungan kerja (site visit) ke wilayah yaitu 7. Conducted site visits to Lahendong, Ulubelu, Sibayak,
Lahendong, Ulubelu, Sibayak, Kamojang, dan Karaha. Kamojang, and Karaha.
Selain itu, Komite Audit juga melakukan kunjungan kerja/site In addition, the Audit Committee also conducted 9 (nine) site visits
visit ke WKP PGE sebanyak 9 (sembilan) kali dalam rangka to PGE’s WKP (Working Area) to review compliance with laws
melakukan penelaahan atas kepatuhan terhadap peraturan and regulations related to the Company’s business activities.
perundang-undangan terkait dengan kegiatan usaha Perseroan.
PT Pertamina Geothermal Energy Tbk
Page 309
Laporan Tahunan 2025 | 2025 Annual Report 307
Laporan Komite Audit Audit Committee Report
Komite Audit menyampaikan laporan kepada Dewan Komisaris The Audit Committee periodically reports to the Board of
secara berkala atas pelaksanaan kegiatan, temuan-temuan (jika Commissioners on its activities, findings (if any), and necessary
ada) dan rekomendasi yang diperlukan. Pada tahun 2025, recommendations. In 2025, the Audit Committee submitted the
Komite Audit telah menyampaikan Laporan kepada Dewan following quarterly reports to the Board of Commissioners:
Komisaris secara triwulanan sebagai berikut:
Periode Laporan Tanggal Penyampaian
Reporting Period Submission Date
Triwulan I 28 April 2025
Quarter I
Triwulan II 11 Juli 2025
Quarter II 11 July 2025
Triwulan III 16 Oktober 2025
Quarter II 16 Ocober 2025
Triwulan IV 23 Januari 2026
Quarter IV 23 January 2026
Pengembangan Kompetensi Anggota Competency Development for Audit
Komite Audit Committee Members
Pengembangan kompetensi anggota Komite Audit senantiasa Competency development for Audit Committee members is
dilakukan guna meningkatkan pengetahuan dan keahlian. continuously conducted to enhance their knowledge and skills.
Selama tahun 2025, anggota Komite Audit telah mengikuti Throughout 2025, Audit Committee members participated in
berbagai pelatihan, antara lain: various training programs, including:
Waktu dan Tempat
Jenis Pelatihan Nama Penyelenggara
Penyelenggaraan
Training Type Name Organizer
Time and Venue
Comprehensive Professional Training Program for Abdulla Zayed 24 Februari 2025 (Online) RWI Consulting -
Certified Risk Professional (CRP®) 24 February 2025 (Online) PT Jagad Prima Mandiri
Budi Herdiyanto 17 Oktober 2025 (Online)
17 October 2025 (Online)
Mohammad Firmansyah 17 Oktober 2025 (Online)
17 October 2025 (Online)
Agus Waluyo 13 Desember 2025 (Online)
13 December 2025 (Online)
Indonesia International Geothermal Convention & Mohammad Firmansyah 17 September 2025 (Jakarta) Kementerian ESDM, Asosiasi
Exhibition (IIGCE) 2025 Panas Bumi Indonesia (API),
Indonesia Geothermal
Association (INAGA)
Risk Management Forum Mohammad Firmansyah 20 Oktober 2025 (Jakarta) Pertamina NRE
20 October 2025 (Jakarta)
Sinergi Pengawasan dan Evaluasi Laporan Mohammad Firmansyah 24 November 2025 (Online) PT Transformasi Inovasi
Keuangan PGE, Benchmarking. Budi Herdiyanto Manajemen dan Universitas
Industri Geothermal dengan Perusahaan Sejenis Agus Waluyo Padjadjaran
di Indonesia dan Global (Filipina)
Synergy of Supervision and Evaluation of
PGE Financial Statements, Benchmarking the
Geothermal Industry with Similar Companies in
Indonesia and Globally (Philippines)
Dinamika Pergantian Pengurus dari Aspek Hukum, Mohammad Firmansyah 1 Desember 2025 (Online) PT Transformasi Inovasi
Transparansi, dan Keberlangsungan Bisnis Budi Herdiyanto 1 December 2025 (Online) Manajemen
PT PGE Tbk Agus Waluyo
Dynamics of Management Changes from the
Legal, Transparency, and Business Sustainability
Aspects of PT PGE Tbk
PT Pertamina Geothermal Energy Tbk
Page 310
308 Laporan Tahunan 2025 | 2025 Annual Report
Evaluasi Komite Audit Terhadap Hasil Audit Committee Evaluation of Public
Pemeriksaan Akuntan Publik Accountant Audit Results
Komite Audit telah melakukan evaluasi terhadap pelaksanaan The Audit Committee has evaluated the implementation of the
hasil pemeriksaan Akuntan Publik terhadap laporan keuangan Public Accountant’s audit results on the Company’s financial
Perseroan untuk tahun buku 2024 melalui surat Komite Audit statements for the 2024 financial year through Audit Committee
No. 006/KA/PGE/2025-S4 tanggal 9 Mei 2025 perihal Letter No. 006/KA/PGE/2025-S4 dated 9 May 2025,
Evaluasi dan Rekomendasi Terhadap Pelaksanaan Pemberian concerning Evaluation and Recommendations Regarding the
Jasa Audit Atas Informasi Keuangan Tahun Buku 2024. Implementation of Audit Services for Financial Information for the
2024 Financial Year.
Hasil evaluasi audit Kantor Akuntan Publik (KAP) Tahun Buku Results of the Public Accounting Firm (KAP) Audit Evaluation for
2024: the 2024 Financial Year:
1. Kesesuaian pelaksanaan audit KAP dengan standar audit 1. Compliance of the KAP’s Audit Implementation with Applicable
yang berlaku Audit Standards
Pelaksanaan audit yang dilakukan oleh KAP telah memenuhi The audit conducted by the KAP complied with applicable
standar audit yang berlaku sesuai dengan Standar Audit audit standards, in accordance with the Audit Standards
yang ditetapkan Dewan Standar Profesional Akuntan Publik established by the Public Accountant Professional Standards
(SPAP) Institut Akuntan Publik Indonesia (IAPI). Metodologi Board (SPAP) of the Indonesian Institute of Public Accountants
audit yang digunakan KAP dirasa cukup sesuai dengan (IAPI). The audit methodology used by the KAP is deemed
tujuan audit yang ingin dicapai Perseroan. adequate to meet the Company’s audit objectives.
2. Kecukupan waktu pekerjaan lapangan 2. Adequate Fieldwork Time
Pelaksanaan penugasan audit hendaknya dikelola The implementation of audit assignments should be managed
sedemikian rupa tanpa melebihi target waktu yang telah in such a way as not to exceed the time targets determined
ditentukan antara KAP dan manajemen Perseroan sehingga by the KAP and the Company’s management, ensuring
terdapat kesesuaian pemenuhan pelaksanaan audit secara timely completion of the audit. The audit team was able to
tepat waktu. Tim audit mampu memanfaatkan waktu utilize time and resources professionally and demonstrated
dan sumber daya secara profesional, serta menunjukan sound audit project management. Audit planning was also
manajemen proyek audit yang baik. Perencanaan audit juga conducted, including initial risk assessment, determination of
telah dilakukan mencakup penilaian awal risiko, penentuan materiality scope, and testing strategies for subsidiaries and
cakupan materialitas, dan strategi pengujian pada entitas high-risk areas.
anak dan area risiko tinggi.
3. Pengkajian cakupan jasa yang diberikan dan cakupan uji 3. Review of the scope of services provided and the scope of
petik random testing
Jasa yang diberikan sesuai dengan penugasan dan The services provided are in accordance with the assignment
kebutuhan Perusahaan. Sementara untuk kecukupan uji petik and the Company’s needs. The adequacy of the random
sesuai dengan standar audit yang ditetapkan oleh IAPI yakni testing is in accordance with the audit standards established
menggunakan SPAP. by IAPI, namely using SPAP.
4. Rekomendasi perbaikan yang diberikan oleh Akuntan Publik 4. Recommendations for improvement provided by the Public
KAP Accountant Firm
Pelaksanaan Audit Laporan Keuangan Konsolidasian Tahun The audit of the Consolidated Financial Statements for the 2024
Buku 2024 telah dilaksanakan serta rekomendasi perbaikan Financial Year has been carried out, and recommendations
telah disampaikan. Hasil temuan telah dikomunikasikan for improvement have been submitted. The findings have
dengan manajemen Perseroan untuk menjadi perhatian dan been communicated to the Company’s management for their
ditindaklanjuti oleh manajemen. attention and follow-up.
KOMITE NOMINASI DAN REMUNERASI NOMINATION AND REMUNERATION
COMMITTEE
Komite Nominasi dan Remunerasi merupakan komite di bawah The Nomination and Remuneration Committee is a committee
Dewan Komisaris yang dibentuk untuk membantu pengawasan under the Board of Commissioners established to assist the
Dewan Komisaris terkait nominasi dan remunerasi anggota Board of Commissioners in overseeing the nomination and
Direksi dan anggota Dewan Komisaris serta meningkatkan remuneration of members of the Board of Directors and Board of
kualitas dan kompetensi Direksi dan Dewan Komisaris. Commissioners and to improve the quality and competence of the
Board of Directors and Board of Commissioners.
PT Pertamina Geothermal Energy Tbk
Page 311
Laporan Tahunan 2025 | 2025 Annual Report 309
Komite Nominasi dan Remunerasi Perseroan ditetapkan The Company’s Nomination and Remuneration Committee was
berdasarkan kepada Surat Keputusan No. Kpts-020/DK/ established based on Decree No. Kpts-020/DK/PGE/2023-S0
PGE/2023-S0 tanggal 20 Juni 2023 tentang Penetapan dan dated 20 June 2023, concerning the Determination and
Pengangkatan Anggota Komite Nominasi dan Remunerasi Dewan Appointment of Members of the Nomination and Remuneration
Komisaris PT Pertamina Geothermal Energy Tbk, pembaharuan Committee of the Board of Commissioners of PT Pertamina
Surat Keputusan No. Kpts-015/DK/PGE/2025-S0 tanggal Geothermal Energy Tbk, a renewal of Decree No. Kpts-015/
2 Desember 2025 Penetapan dan Pengangkatan Anggota DK/PGE/2025-S0 dated 2 December 2025, concerning
Komite Nominasi dan Remunerasi Dewan Komisaris PT Pertamina Determination and Appointment of Members of the Nomination
Geothermal Energy Tbk. and Remuneration Committee of the Board of Commissioners of
PT Pertamina Geothermal Energy Tbk.
Dasar Hukum Legal Basis
Landasan atau dasar hukum pembentukan Komite Nominasi dan The legal basis for establishing the Nomination and Remuneration
Remunerasi adalah: Committee is the following:
• Undang-Undang Republik Indonesia No. 40 Tahun 2007 • Law of the Republic of Indonesia No. 40 of 2007 concerning
tentang Perseroan Terbatas. Limited Liability Companies.
• Undang-Undang No. 19 Tahun 2003 tentang Badan Usaha • Law No. 19 of 2003 concerning State-Owned Enterprises
Milik Negara (BUMN). (SOEs).
• Peraturan Menteri Negara Badan Usaha Milik Negara • Regulation of the Minister of State-Owned Enterprises No.
Nomor PER-06/MBU/04/2021 tahun 2021 tentang PER-06/MBU/04/2021 of 2021 concerning Amendments
Perubahan Atas Peraturan Menteri Badan Usaha Milik to Regulation of the Minister of State-Owned Enterprises No.
Negara Nomor PER-12/ MBU/2012 tanggal 24 Agustus PER-12/MBU/2012 dated 24 August 2012, concerning
2012 tentang Organ Pendukung Dewan Komisaris/Dewan Supporting Organs of the Board of Commissioners/
Pengawas Badan Usaha Milik Negara. Supervisory Board of State-Owned Enterprises.
• Peraturan Menteri Negara BUMN No. Per-2/ MBU/03/2023 • Regulation of the Minister of State-Owned Enterprises
tentang Pedoman Tata Kelola dan Kegiatan Korporasi No. Per-2/MBU/03/2023 concerning Guidelines for
Signifikan Badan Usaha Milik Negara. Governance and Significant Corporate Activities of State-
Owned Enterprises.
• Peraturan Otoritas Jasa Keuangan No. 34/POJK.04/2014 • Regulation of the Financial Services Authority No. 34/
tanggal 8 Desember 2014 tentang Komite Nominasi dan POJK.04/2014 dated 8 December 2014 concerning the
Remunerasi Emiten atau Perusahaan Publik. Nomination and Remuneration Committee of Issuers or Public
Companies.
Pedoman dan Tata Tertib Kerja (Piagam) Nomination and Remuneration
Komite Nominasi dan Remunerasi Committee Charter
Komite Nominasi dan Remunerasi memiliki Piagam atau The Nomination and Remuneration Committee has a Charter as
Pedoman Tata Tertib Kerja sebagai acuan dalam melaksanakan a reference in carrying out its duties and responsibilities. The
tugas dan tanggung jawabnya. Piagam komite mengatur antara committee charter regulates, among other things, the Duties and
lain Tugas dan Tanggung Jawab, Prosedur Pelaksanaan Fungsi Responsibilities, Procedures for Implementing the Nomination and
Nominasi dan Remunerasi, Kebijakan Penyelenggara Rapat, Remuneration Function, Meeting Organizing Policies, Activity
Sistem Pelaporan Kegiatan, Masa Jabatan anggota komite dan Reporting System, Term of Office for Committee Members, and
Pemberlakuan. Enforcement.
Tugas dan Tanggung Jawab Komite Duties and Responsibilities of the
Nominasi dan Remunerasi Nomination and Remuneration
Committee
Terkait Kebijakan Nominasi Regarding the Nomination Policy
1. Memberikan rekomendasi mengenai: 1. Provide recommendations regarding:
a. Komposisi jabatan anggota Direksi dan/atau anggota a. The composition of positions for members of the Board of
Dewan Komisaris. Directors and/or members of the Board of Commissioners.
b. Kebijakan dan kriteria yang dibutuhkan dalam proses b. Policies and criteria required in the nomination process.
nominasi.
PT Pertamina Geothermal Energy Tbk
Page 312
310 Laporan Tahunan 2025 | 2025 Annual Report
c. Kebijakan evaluasi kinerja bagi anggota Direksi dan/ c. Performance evaluation policies for members of the
atau anggota Dewan Komisaris. Board of Directors and/or members of the Board of
Commissioners.
d. Program pengembangan kemampuan anggota Direksi d. Competency development programs for members of the
dan Dewan Komisaris. Board of Directors and/or Board of Commissioners.
2. Melakukan penilaian kinerja anggota Direksi dan/atau 2. Conduct performance assessments for members of the Board
anggota Dewan Komisaris berdasarkan tolok ukur yang telah of Directors and/or members of the Board of Commissioners
disusun sebagai bahan evaluasi. based on established benchmarks for evaluation purposes.
3. Memberikan rekomendasi mengenai program pengembangan 3. Provide recommendations regarding competency
kemampuan anggota Direksi dan/atau anggota Dewan development programs for members of the Board of Directors
Komisaris. and/or members of the Board of Commissioners.
4. Memberikan usulan calon yang memenuhi syarat sebagai 4. Provide proposals for candidates who meet the requirements
anggota Direksi dan/atau anggota Dewan Komisaris kepada as members of the Board of Directors and/or members of the
Dewan Komisaris untuk disampaikan kepada RUPS. Board of Commissioners to the Board of Commissioners to be
submitted to the GMS.
Terkait Kebijakan Remunerasi Regarding the Remuneration Policy
1. Memberikan rekomendasi mengenai struktur remunerasi, 1. Provide recommendations regarding the remuneration
kebijakan remunerasi dan besaran remunerasi. structure, remuneration policy, and remuneration amount.
2. Melakukan penilaian kinerja dengan kesesuaian remunerasi 2. Conduct performance assessments based on the
yang diterima masing-masing anggota Direksi dan/atau appropriateness of the remuneration received by each member
anggota Dewan Komisaris. of the Board of Directors and/or Board of Commissioners.
Struktur Remunerasi dapat berupa Gaji, Honorarium, Insentif The remuneration structure can include salary, honorarium,
dan Tunjangan yang bersifat tetap dan/atau variable. Komite incentives, and allowances, both fixed and/or variable. The
Nominasi dan Remunerasi akan mempertimbangkan faktor-faktor Nomination and Remuneration Committee will consider the
berikut dalam menetapkan struktur, kebijakan, dan besaran following factors in determining the remuneration structure,
remunerasi: policy, and amount:
a. Remunerasi yang berlaku pada industri sesuai dengan a. Remuneration applicable in the industry, in accordance
kegiatan usaha perusahaan sejenis dan skala usaha with the business activities of similar companies and the
Perseroan dalam industrinya. Company’s business scale within its industry.
b. Tugas, tanggung jawab, dan wewenang anggota Direksi b. Duties, responsibilities, and authorities of members of the
dan/atau anggota Dewan Komisaris dikaitkan dengan Board of Directors and/or Board of Commissioners related
pencapaian tujuan dan kinerja Perseroan. to the achievement of the Company’s objectives and
performance.
c. Target kinerja atau kinerja masing-masing anggota Direksi c. Performance targets or performance of each member of the
dan/atau anggota Dewan Komisaris. Board of Directors and/or Board of Commissioners.
d. Keseimbangan tunjangan antara yang bersifat tetap dan d. Balance between fixed and variable allowances.
bersifat variabel.
Dewan Komisaris juga melakukan evaluasi terhadap struktur, The Board of Commissioners also evaluates the remuneration
kebijakan, dan besaran remunerasi paling kurang 1 (satu) kali structure, policy, and amount at least once a year.
dalam setahun.
Komposisi dan Masa Jabatan Composition and Term of Office
Sesuai Peraturan Menteri BUMN PER-2/MBU/03/2023 dan In accordance with Minister of State-Owned Enterprises
Peraturan Menteri BUMN Nomor PER-3/MBU/03/2023, Regulation PER-2/MBU/03/2023 and Minister of State-Owned
komposisi Komite Nominasi dan Remunerasi Perseroan terdiri Enterprises Regulation Number PER-3/MBU/03/2023, the
dari Ketua dan Anggota yang diangkat dan diberhentikan Company’s Nomination and Remuneration Committee consists of
melalui keputusan Dewan Komisaris dan dilaporkan kepada a Chairman and Members, who are appointed and dismissed
RUPS. Anggota komite terdiri dari anggota Dewan Komisaris dan through a decree of the Board of Commissioners and reported to
pihak luar Perseroan. the GMS. Committee members include members of the Board of
Commissioners and external parties.
PT Pertamina Geothermal Energy Tbk
Page 313
Laporan Tahunan 2025 | 2025 Annual Report 311
Komposisi anggota Komite Nominasi dan Remunerasi Perseroan The composition of the Company’s Nomination and Remuneration
terdiri dari Komisaris Independen sebagai ketua, 1 (satu) pejabat Committee consists of an Independent Commissioner as
di bawah Direksi yang membidangi Sumber Daya Manusia dan Chairman, one official under the Board of Directors in charge of
1 (satu) Pihak Independen yang berasal dari luar Perseroan yang Human Resources, and one independent party from outside the
telah memahami industri/bisnis Perseroan. Komposisi anggota Company who understands the Company’s industry/business.
Komite Nominasi dan Remunerasi telah memenuhi persyaratan The composition of the Nomination and Remuneration Committee
yang ditetapkan peraturan. has met the requirements stipulated by the regulations.
Pada tahun 2025, terdapat perubahan komposisi Komite In 2025, there was a change in the composition of the
Nominasi dan Remunerasi sehubungan dengan adanya Nomination and Remuneration Committee due to a change in
perubahan anggota Dewan Komisaris Perseroan, ketua Komite the membership of the Company’s Board of Commissioners.
Nominasi dan Remunerasi yang sebelumnya adalah Bapak The Chairman of the Nomination and Remuneration Committee,
Sarman Simanjorang digantikan dengan Bapak Abdul Musawir Mr. Sarman Simanjorang, was replaced by Mr. Abdul Musawir
Yahya efektif sejak tanggal 21 Maret 2025. Yahya, effective 21 March 2025.
Susunan anggota Komite Nominasi dan Remunerasi Perseroan The composition of the Company’s Nomination and Remuneration
per 31 Desember 2025 sebagai berikut: Committee as of 31 December 2025, is as follows:
Nama Jabatan Dasar Penunjukan Masa Jabatan
No
Name Position Basis of Appointment Term of Office
1 Abdul Musawir Yahya Ketua/Komisaris Surat Keputusan Dewan Komisaris No. Kpts- 21 Maret 2025 - 20 Maret 2028
Independen 003/DK/PGE/2025-S0 tentang Penetapan dan 21 March 2025 - 20 March 2028
Chairman/Independent Pengangkatan Komite Nominasi dan Remunerasi
Commissioner Dewan Komisaris PT Pertamina Geothermal
Energy Tbk tanggal 21 Maret 2025
Decree of the Board of Commissioners No.
Kpts-003/DK/PGE/2025-S0 concerning
the Determination and Appointment of the
Nomination and Remuneration Committee of
the Board of Commissioners of PT Pertamina
Geothermal Energy Tbk dated 21 March 2025
2 David Marito Saragih Anggota Surat Keputusan Dewan Komisaris No. Kpts- Periode ke 1:
Turnip Member 031/DK/PGE/2023-S0 tanggal 31 Oktober 1 November 2023-31 Oktober 2025
2023 tentang Penetapan dan Pengangkatan Periode ke 2:
Komite Nominasi dan Remunerasi PT Pertamina 1 November 2025-31 Oktober 2027
Geothermal Energy Tbk diperbaharui melalui
Surat Keputusan Dewan Komisaris No.Kpts-015/ Period 1:
DK/PGE/2025-S0 tanggal 1 November 2025 1 November 2023–31 October 2025
tentang Penetapan dan Pengangkatan Komite Period 2:
Nominasi dan Remunerasi Dewan Komisaris 1 November 2025–31 October 2027
PT Pertamina Geothermal Energy Tbk
Board of Commissioners’ Decision No. Kpts-031/
DK/PGE/2023-S0 dated 31 October 2023,
regarding the Establishment and Appointment of
the Nomination and Remuneration Committee
of PT Pertamina Geothermal Energy Tbk was
updated via Board of Commissioners’ Resolution
No. Kpts-015/DK/PGE/2025-S0 dated
1 November 2025 regarding the Establishment
and Appointment of the Nomination and
Remuneration Committee Board Of Commissioners
of PT Pertamina Geothermal Energy Tbk
3 Purwitohadi Anggota Surat Keputusan Dewan Komisaris No. Kpts-016/ 01 Mei 2023 - 30 April 2026
Member DK/PGE/2023-S0 tanggal 6 Juni 2023 tentang 21 March 2025 - 20 March 2028
Penetapan dan Pengangkatan Anggota Komite
Nominasi dan Remunerasi Dewan Komisaris
PT Pertamina Geothermal Energy.
Board of Commissioners’ Decision No. Kpts-016/
DK/PGE/2023-S0 dated 6 June 2023 regarding
the Designation and Appointment of Members
of the Nomination and Remuneration Committee
of the Board of Commissioners of PT Pertamina
Geothermal Energy.
PT Pertamina Geothermal Energy Tbk
Page 314
312 Laporan Tahunan 2025 | 2025 Annual Report
Masa jabatan anggota Komite Nominasi dan Remunerasi The term of office of the members of the Nomination and
mengikuti masa jabatan anggota Dewan Komisaris. Remuneration Committee follows the term of office of the members
of the Board of Commissioners.
Profil Anggota Komite Nominasi dan Profile of the Nomination and
Remunerasi Remuneration Committee Member
Profil anggota Komite Nominasi dan Remunerasi Bapak Abdul The profile of Mr. Abdul Musawir Yahya, an Independent
Musawir Yahya sebagai Komisaris Independen Perseroan dapat Commissioner of the Company, can be seen in the Profile of the
dilihat pada bagian Profil Dewan Komisaris dalam Laporan Board of Commissioners section of this Annual Report.
Tahunan ini.
Usia | Age 44 tahun | 44 years old
Kewarganegaraan Indonesia | Indonesian
Nationality
Domisili | Domicile Bekasi
Riwayat Pendidikan Sarjana Ekonomi, Universitas Indonesia (1999-2004)
Educational Background
Bachelor of Economics, University of Indonesia (1999-2004)
Rangkap Jabatan Manager Human Capital - PT Pertamina Geothermal Energy Tbk
Concurrent Position (Februari 2023 - sekarang)
Human Capital Manager - PT Pertamina Geothermal Energy Tbk
(February 2023-present)
Pengalaman Kerja • Senior Manager Human Resources - PT Pertamina Geothermal
Work Experience Energy Tbk (Juni 2022 - Januari 2023)
• Area Manager Human Resources - PT Pertamina Patra Niaga
(Mei 2021-Mei 2022)
• Senior Officer lll HCBP Business Operation - PT Pertamina
International Shipping (Maret-April 2021)
• HR & GA Manager - PT Pertamina Retail (Juli 2019-Februari
2021)
• Human Capital Unit Manager MOR VIII - PT Pertamina
(Persero) (April 2018-Juli 2019)
• HR Operations & Competency Assurance Coordinator -
Pertamina Algeria EP (September 2015-Maret 2018)
• Human Capital Analyst - PT Pertamina (Persero) (Januari
2009-Agustus 2015)
• Senior Manager Human Resources - PT Pertamina Geothermal
Energy Tbk (June 2022-January 2023)
• Area Manager Human Resources - PT Pertamina Patra Niaga
(May 2021-May 2022)
• Senior Officer III HCBP Business Operation - PT Pertamina
International Shipping (March-April 2021)
• HR & GA Manager - PT Pertamina Retail (July 2019-February
2021)
• Human Capital Unit Manager MOR VIII - PT Pertamina
(Persero) (April 2018-July 2019)
• HR Operations & Competency Assurance Coordinator -
Pertamina Algeria EP (September 2015-March 2018)
• Human Capital Analyst - PT Pertamina (Persero) (January
2009-August 2015)
David Marito Saragih Turnip
Pejabat Eksekutif
Executive Officer
PT Pertamina Geothermal Energy Tbk
Page 315
Laporan Tahunan 2025 | 2025 Annual Report 313
Usia | Age 51 tahun | 51 years old
Kewarganegaraan Indonesia | Indonesian
Nationality
Domisili | Domicile Bekasi
Riwayat Pendidikan • Magister Manajemen, Universitas Krisnadwipayana
Educational Background (2004-2008)
• Diploma 4 Akuntansi, Sekolah Tinggi akuntansi Negara (1998-
2001)
• Master of Management, Krisnadwipayana University (2004-
2008)
• Diploma 4 in Accounting, State College of Accountancy (1998-
2001)
Rangkap Jabatan Analis Kebijakan Ahli Madya, Unit Kerja Badan Kebijakan Fiskal
Concurrent Position - Kementerian Keuangan (2019-sekarang)
Senior Policy Analyst, Fiscal Policy Agency Work Unit - Ministry of
Finance (2019-present)
Pengalaman Kerja • Analis Kebijakan Ahli Madya, Unit Kerja Badan Kebijakan
Work Experience Fiskal - Kementerian Keuangan (2019-sekarang)
• Kepala Bidang Kebijakan Pajak dan PNBP, Badan Kebijakan
Fiskal - Kementerian Keuangan II (2015-2019)
• Kepala Subbidang PPN dan PPnBM , Badan Kebijakan Fiskal -
Kementerian Keuangan (2009-2015)
• Account Representative, Unit Kerja Direktorat Jenderal Pajak -
Kementerian Keuangan (2002-2009)
• Senior Policy Analyst, Fiscal Policy Agency Work Unit, Ministry
of Finance (2019-present)
• Head of Tax Policy and Non-Tax State Revenue Division, Fiscal
Policy Agency II, Ministry of Finance (2015-2019)
• Head of the VAT and Sales Tax on Luxury Goods Sub-Division,
Fiscal Policy Agency, Ministry of Finance (2009-2015)
• Account Representative, Directorate General of Taxes Work
Unit, Ministry of Finance (2002-2009)
Purwitohadi
Pihak Independen
Independent Party
Sertifikasi Profesi Professional Certification
Sertifikasi profesi yang dimiliki oleh anggota Komite Nominasi The professional certifications held by members of the Nomination
dan Remunerasi sebagai berikut and Remuneration Committee are as follows:
Waktu dan Tempat
Nama Jabatan Jenis Pelatihan Penyelenggara
Penyelenggaraan
Name Position Training Type Organizer
Time and Venue
Ketua Professional Training Program for 31 Januari 2025 (Online) RWI Consulting PT Jagad
Abdul Musawir Yahya
Chairman Certified Risk Professional (CRP) 31 January 2025 (Online) Prima Mandiri
Anggota Professional Training Program for 11 Juli 2025 (Online) RWI Consulting PT Jagad
David Marito Saragih Turnip
Member Certified Risk Professional (CRP) 11 July 2025 (Online) Prima Mandiri
Anggota Professional Training Program for 11 Juli 2025 (Online) RWI Consulting PT Jagad
Purwitohadi
Member Certified Risk Professional (CRP) 11 July 2025 (Online) Prima Mandiri
PT Pertamina Geothermal Energy Tbk
Page 316
314 Laporan Tahunan 2025 | 2025 Annual Report
Independensi Komite Nominasi dan Independence of the Nomination and
Remunerasi Remuneration Committee
Seluruh anggota Komite Nominasi dan Remunerasi telah All members of the Nomination and Remuneration Committee
menyatakan independensinya, yang menegaskan bahwa mereka have declared their independence, confirming that they have
tidak memiliki hubungan dengan kepengurusan, kepemilikan no management relationships, share ownership, or familial
saham, maupun hubungan keluarga hingga derajat kedua relationships up to the second degree with any member of the
dengan anggota Dewan Komisaris, Direksi, maupun Pemegang Board of Commissioners, Board of Directors, or Controlling
Saham Pengendali. Shareholder.
Pernyataan Independensi
No. Abdul Musawir Yahaya Purwitohadi
Statement of Independence
1 Tidak bekerja atau memiliki wewenang untuk merencanakan,
memimpin, mengendalikan, atau mengawasi kegiatan Perseroan
dalam 6 bulan terakhir.
√ √
Does not work or have the authority to plan, lead, control or
supervise the Company’s activities within the last 6 months.
2 Tidak secara langsung maupun tidak langsung memiliki saham di
Perseroan.
√ √
Does not directly or indirectly own shares in the Company.
3 Tidak memiliki hubungan afiliasi dengan Perseroan atau pemegang
saham utama/ pengendali atau salah satu anggota Dewan
Komisaris atau Direksi.
√ √
Does not have any affiliated relationship with the Company or the
major/controlling shareholders or any member of the Board of
Commissioners or Board of Directors.
4 Tidak memiliki hubungan kerja atau profesional secara langsung
maupun tidak langsung dengan Perseroan.
√ √
Does not have any direct or indirect working or professional
relationship with the Company.
Rapat Komite Nominasi dan Remunerasi Nomination and Remuneration
Committee Meetings
Kebijakan Rapat Meeting Policy
Komite Nominasi dan Remunerasi menyelenggarakan rapat The Nomination and Remuneration Committee shall hold meetings
paling kurang 1 (satu) kali dalam 4 (empat) bulan. Rapat dapat at least once every 4 (four) months. Meetings may be held if attended
diselenggarakan apabila dihadiri oleh mayoritas dari jumlah by a majority of the members of the Board of Commissioners, one
anggota Dewan Komisaris yang salah satunya merupakan of whom must be an Independent Commissioner. Meetings may
Komisaris Independen. Rapat dapat diselenggarakan dengan be held in person or via teleconference, video conference, or
kehadiran secara fisik maupun nonfisik melalui telekonferensi, other electronic media.
video konferensi, atau sarana media elektronik lainnya.
Keputusan rapat komite diambil berdasarkan musyawarah untuk Committee meeting resolutions are made by deliberation to
mufakat atau suara terbanyak jika tidak tercapai mufakat. Hasil achieve consensus or by majority vote if consensus cannot be
rapat komite dituangkan dalam risalah rapat dan ditandatangani reached. The results of committee meetings are recorded in
oleh seluruh anggota Komite yang hadir dan disampaikan secara minutes of the meeting, signed by all members of the Committee
tertulis kepada Dewan Komisaris. present, and submitted in writing to the Board of Commissioners.
Komite Nominasi dan Remunerasi dapat mengambil keputusan The Nomination and Remuneration Committee may make valid
yang sah tanpa mengadakan Rapat, dengan ketentuan semua resolutions without holding a meeting, provided that all members
anggota Fungsi telah diberitahu, secara tertulis dan semua of the Committee have been notified in writing and all members
anggota Fungsi memberikan persetujuan mengenal usulan yang have given their written approval to the proposals submitted by
diajukan secara tertulis dengan menandatangani persetujuan signing the circular agreement. Such resolutions have the same
sirkular. Keputusan tersebut mempunyai kekuatan yang sama force as resolutions legally adopted at a meeting.
dengan keputusan yang diambil dengan sah dalam Rapat.
PT Pertamina Geothermal Energy Tbk
Page 317
Laporan Tahunan 2025 | 2025 Annual Report 315
Frekuensi dan Tingkat Kehadiran Rapat Meeting Frequency and Attendance Level
Selama tahun 2025, Komite Nominasi dan Remunerasi telah In 2025, the Nomination and Remuneration Committee held 13
melaksanakan rapat internal sebanyak 13 (tiga belas) kali (thirteen) internal meetings, with the following attendance levels
dengan tingkat kehadiran masing-masing anggota sebagai for each member:
berikut:
Tingkat Kehadiran Rapat Komite Nominasi dan Remunerasi
Nomination and Remuneration Committee Meeting Attendance Level
Nama Jabatan Jumlah Rapat Tingkat Kehadiran Persentase (%)
No
Name Position Number of Meeting Attendance Level Percentage (%)
Ketua
1 Abdul Musawir Yahya 13 13 100%
Chairman
Anggota
2 David Marito Saragih Turnip 13 13 100%
Member
Anggota
3 Purwitohadi 13 13 100%
Member
Komite Nominasi dan Remunerasi selama tahun 2025 juga In 2025, the Nomination and Remuneration Committee
menghadiri rapat gabungan Dewan Komisaris dan Direksi also attended 13 (Thirteen) joint meetings of the Board of
sebanyak 13 (tiga belas) kali, serta rapat gabungan komite dan Commissioners and the Board of Directors, as well as 31 (thirty-
fungsi sebanyak 31 (tiga puluh satu) kali. one) joint meetings of committees and functions.
Pelaksanaan Kegiatan tahun 2025 Implementation of Activities in 2025
Selama tahun 2025, Komite Nominasi dan Remunerasi telah In 2025, the Nomination and Remuneration Committee carried
melaksanakan tugas dan tanggung jawabnya terkait fungsi out its duties and responsibilities related to the Nomination and
Nominasi dan Remunerasi sebagai berikut: Remuneration function as follows:
1. Pelaksanaan Fungsi Nominasi 1. Implementation of the Nomination Function
Komite Nominasi dan Remunerasi berkoordinasi dengan The Nomination and Remuneration Committee coordinated
komite talenta Kementerian BUMN dalam mendukung with the Talent Committee of the Ministry of State-Owned
proses nominasi calon Komisaris Utama untuk menggantikan Enterprises in supporting the nomination process for a
Komisaris Utama yang telah berakhir masa jabatannya President Commissioner candidate to replace the President
pada Februari 2025. Proses nominasi dan seleksi tersebut Commissioner whose term of office expired in February
dilakukan mengacu pada Peraturan Menteri Badan Usaha 2025. The nomination and selection process were conducted
Milik Negara nomor PER-3/MBU/03/2023 tentang Organ in accordance with Regulation of the Minister of State-Owned
dan Sumber Daya Manusia Badan Usaha Milik Negara. Enterprises No. PER-3/MBU/03/2023 concerning the
Organs and Human Resources of State-Owned Enterprises.
2. Pelaksanaan Fungsi Remunerasi 2. Implementation of the Remuneration Function
• Evaluasi dan penilaian kinerja Direksi baik secara • Evaluation and assessment of the Board of Directors’
kolegial maupun individu. performance, both collegially and individually.
• Penilaian kinerja Dewan Komisaris dan Komite. • Assessment of the Board of Commissioners’ and
Committee’s performance.
• Usulan remunerasi anggota Direksi dan anggota Komite. • Remuneration proposals for Board of Directors and
Committee members.
3. Melakukan Kunjungan Kerja (Site Visit) ke WKP PGE 3. Conducting site visits to the PGE WKPs (Working Area) in
Lahendong, Kamojang, Karaha, Lumut Balai, Ulubelu, Lahendong, Kamojang, Karaha, Lumut Balai, Ulubelu, and
Sibayak, Kamojang, Karaha. Sibayak.
4. Governance pada Kelembagaan Komite Nominasi dan 4. Governance within the Nomination and Remuneration
Remunerasi. Committee.
5. Program Peningkatan Kompetensi Komite Nominasi dan 5. Competency Development Program for the Nomination and
Remunerasi. Remuneration Committee.
PT Pertamina Geothermal Energy Tbk
Page 318
316 Laporan Tahunan 2025 | 2025 Annual Report
Pengembangan Kompetensi Anggota Competency Development for
Komite Nominasi dan Remunerasi Nomination and Remuneration
Committee Members
Guna meningkatkan pengetahuan dan keahlian, anggota To enhance their knowledge and expertise, members of the
Komite Nominasi dan Remunerasi telah mengikuti program Nomination and Remuneration Committee participated in the
pengembangan kompetensi dalam bentuk pelatihan/seminar following competency development programs in the form of
selama tahun 2025 sebagai berikut: training and seminars throughout 2025:
Waktu dan Tempat
Jenis Pelatihan Nama Penyelenggara
Penyelenggaraan
Training Type Name Organizer
Time and Venue
Abu Dhabi Sustainability Week (ADSW) 1. Abdul Musawir Yahya 14-16 Januari 2025 (Abu Dhabi) Masdar
2. David Maritho Saragih Turnip 14-16 January 2025 (Abu Dhabi)
Professional Training Program for Certified 1. Abdul Musawir Yahya 11 Juli 2025 Online RWI Consulting -
Risk Professional (CRP) 2. Purwitohadi 11 July 2025 (Online) PT Jagad Prima Mandiri
3. David Marito Saragih Turnip
Indonesia International Geothermal 1. Abdul Musawir Yahya 17 September 2025 (Jakarta) Kementerian ESDM, Asosiasi
Convention & Exhibition (IIGCE) 2025 2. David Maritho Saragih Turnip Panas Bumi Indonesia (API),
Indonesia Geothermal
Association (INAGA)
Risk Management Forum Abdul Musawir Yahya 20 Oktober 2025 (Jakarta) Pertamina NRE
20 October 2025 (Jakarta)
Sinergi Pengawasan dan Evaluasi 1. Abdul Musawir Yahya 24 November 2025 (Online) PT Transformasi Inovasi
Laporan Keuangan PGE, Benchmarking 2. Purwitohadi Manajemen dan Universitas
Industri Geothermal dengan Perusahaan 3. David Marito Saragih Turnip Padjadjaran
Sejenis di Indonesia dan Global (Filipina)
Synergy of Supervision and Evaluation of
PGE Financial Statements, Benchmarking
the Geothermal Industry with Similar
Companies in Indonesia and Globally
(Philippines)
Dinamika Pergantian Pengurus dari 1. Abdul Musawir Yahya 1 Desember 2025 (Online) PT Transformasi Inovasi
Aspek Hukum, Transparansi, dan 2. Purwitohadi 1 December 2025 (Online) Manajemen
Keberlangsungan Bisnis PT PGE Tbk 3. David Marito Saragih Turnip
Dynamics of Management Changes from
the Legal, Transparency, and Business
Sustainability Aspects of PT PGE Tbk
KOMITE INVESTASI DAN MANAJEMEN INVESTMENT AND RISK MANAGEMENT
RISIKO COMMITTEE
Komite Investasi dan Manajemen Risiko merupakan komite Dewan The Investment and Risk Management Committee is a committee of
Komisaris yang membantu pelaksanaan tugas dan tanggung the Board of Commissioners that assists in carrying out the duties
jawab Dewan Komisaris terkait pengawasan manajemen risiko and responsibilities of the Board of Commissioners regarding
dan investasi secara keseluruhan di Perseroan. the overall oversight of risk management and investments in the
Company.
Pedoman dan Tata Tertib Kerja (Piagam) Investment and Risk Management
Komite Investasi dan Manajemen Risiko Committee Charter
Komite Investasi dan Manajemen Risiko memiliki Piagam sebagai The Investment and Risk Management Committee has a Charter
acuan dalam melaksanakan tugas dan tanggung jawabnya as a reference in carrying out its duties and responsibilities to
agar pelaksanaan tugas komite efisien, efektif, transparan, ensure efficient, effective, transparent, competent, independent,
kompeten, independen, dan dapat dipertanggungjawabkan. and accountable implementation of the committee’s duties. The
Piagam komite disahkan melalui Surat Keputusan Piagam committee charter was ratified through Decree No. Kpts-010/
PT Pertamina Geothermal Energy Tbk
Page 319
Laporan Tahunan 2025 | 2025 Annual Report 317
komite disahkan melalui Surat Keputusan No. Kpts-010/DK/ DK/PGE/2025-S0 dated 18 September 2025, concerning the
PGE/2025-S0 tanggal 18 September 2025 tentang Penetapan Determination and Appointment of Members of the Investment
dan Pengangkatan Anggota Komite Investasi dan Manajemen and Risk Management Committee of the Board of Commissioners
Risiko Dewan Komisaris PT Pertamina Geothermal Energy Tbk. of PT Pertamina Geothermal Energy Tbk.
Tanggung Jawab dan Wewenang Responsibilities and Authorities
Tugas dan tanggung jawab Komite Investasi dan Manajemen The duties and responsibilities of the Investment and Risk
Risiko antara lain sebagai berikut: Management Committee include the following:
1. Membantu Dewan Komisaris mengevaluasi sistem manajemen 1. Assisting the Board of Commissioners in evaluating the
risiko Perseroan, termasuk sistem pengendalian internal dan Company’s risk management system, including its internal
menilai toleransi risiko Perseroan. control system, and assessing the Company’s risk tolerance.
2. Membantu Dewan Komisaris dalam memberikan pendapat 2. Assisting the Board of Commissioners in providing professional
profesional dan independen guna diterapkannya manajemen and independent opinions regarding the implementation
risiko Perseroan (Enterprise Risk Management) terhadap of Enterprise Risk Management in the Company’s risk
aktivitas pelaksanaan manajemen risiko dan investasi yang management and investment activities established and
telah ditetapkan dan dijalankan oleh Perseroan. implemented by the Company.
3. Melakukan penelaahan dan evaluasi sistem manajemen 3. Reviewing and evaluating the risk management system,
risiko, kebijakan investasi, pengendalian internal dan menilai investment policies, and internal controls, and assessing the
toleransi risiko investasi Perseroan. Company’s investment risk tolerance.
4. Membantu Dewan Komisaris dalam memberikan panduan 4. Assisting the Board of Commissioners in providing guidance
dan saran kepada Direksi tentang praktik umum pelaksanaan and advice to the Board of Directors regarding general
manajemen risiko dan investasi secara keseluruhan di practices for implementing risk management and investment
Perseroan. across the Company.
5. Membuat rencana kerja tahunan yang diselaraskan dengan 5. Developing an annual work plan aligned with the Board of
rencana kerja tahunan Dewan Komisaris. Commissioners’ annual work plan.
6. Membuat laporan kepada Dewan Komisaris atas setiap 6. Reporting to the Board of Commissioners on each
penugasan yang diberikan dan membuat Laporan Tahunan assignment assigned and preparing an Annual Report on
pelaksanaan kegiatan Komite Investasi dan Manajemen the implementation of the Investment and Risk Management
Risiko. Committee’s activities.
7. Melakukan pengkajian dan menelaah kelengkapan Piagam 7. Periodically reviewing and assessing the completeness of the
Komite secara berkala dan memberikan rekomendasi Committee Charter and recommending necessary adjustments
penyesuaian yang diperlukan kepada Dewan Komisaris. to the Board of Commissioners.
8. Melaksanakan tugas lain dari Dewan Komisaris terkait 8. Carry out other duties of the Board of Commissioners related
peran dan tanggung jawab Dewan Komisaris dalam hal to the role and responsibilities of the Board of Commissioners
pengawasan atas investasi Perseroan. in terms of supervising the Company’s investments.
Wewenang Komite Investasi dan Authority of the Investment and Risk
Manajemen Risiko Management Committee
1. Menerima otoritas dan penugasan dari Dewan Komisaris. 1. Receive authority and assignments from the Board of
Commissioners.
2. Mengakses informasi atau catatan tentang pekerja, 2. Access information or records regarding employees, finances,
keuangan, aset, kebijakan perusahaan serta sumber daya assets, company policies, and other Company resources
Perseroan lainnya yang berkaitan dengan pelaksanaan related to the implementation of its duties.
tugasnya.
3. Dalam melaksanakan wewenang sebagaimana di atas, 3. In exercising the aforementioned authority, the Investment and
Komite Investasi dan Manajemen Risiko bekerja sama Risk Management Committee collaborates with the Secretary
dengan Sekretaris Dewan Komisaris, Sekretaris Perusahaan of the Board of Commissioners, the Corporate Secretary, and
dan unit-unit lain yang berkaitan dengan tugasnya. other units related to its duties.
4. Apabila diperlukan, dengan persetujuan tertulis Dewan 4. If necessary, with the written approval of the Board of
Komisaris, Komite Investasi dan Manajemen Risiko dapat Commissioners, the Investment and Risk Management
mempekerjakan tenaga ahli dan/atau konsultan untuk Committee may employ experts and/or consultants to assist
membantu Komite Investasi dan Manajemen Risiko. the Investment and Risk Management Committee.
PT Pertamina Geothermal Energy Tbk
Page 320
318 Laporan Tahunan 2025 | 2025 Annual Report
5. Apabila diperlukan, dengan persetujuan tertulis Dewan 5. If necessary, with the written approval of the Board of
Komisaris, Komite Investasi dan Manajemen Risiko dapat Commissioners, the Investment and Risk Management
membentuk suatu tim yang bersifat ad-hoc, yang kriteria Committee may form an ad hoc team whose criteria and
dan periode penugasannya disesuaikan dengan jenis assignment period are tailored to the type of work.
pekerjaannya.
Komposisi dan Masa Jabatan Composition and Term of Office
Komite Investasi & Manajemen Risiko terdiri dari ketua yang The Investment & Risk Management Committee consists of a
berasal dari anggota Dewan Komisaris dan anggota lainnya Chairman who is a member of the Board of Commissioners, and
dapat berasal dari pihak dari luar (pihak eksternal) Perseroan. other members may be external parties to the Company.
Komite Investasi dan Manajemen Risiko Perseroan terdiri The Investment and Risk Management Committee consists of
dari 2 (dua) anggota Dewan Komisaris dan 2 (dua) anggota 2 (two) members of the Board of Commissioners and 2 (two)
yang berasal dari luar Perseroan. Ketua Komite Investasi dan members from outside the Company. The Chairman of the
Manajemen Risiko adalah Komisaris Utama. Komposisi anggota Investment and Risk Management Committee is the President
komite Perseroan telah memenuhi ketentuan. Commissioner. The composition of the Company’s committee
members has met the requirements.
Berikut komposisi anggota Komite Investasi & Manajemen Resiko: The following is the composition of the Investment & Risk
Management Committee members:
Nama Jabatan Dasar Penunjukan Masa Jabatan
No
Name Position Basis of Appointment Term of Office
1 Gigih Udi Atmo Ketua/Komisaris Utama Surat Keputusan Dewan Komisaris No. Kpts- 1 Agustus 2024 - 30 Juli 2027
Chairman/President 017/DK/PGE/2024-S0 tanggal 1 Agustus 1 August 2024 - 30 July 2027
Commissioner 2024 tentang Penetapan dan Pengangkatan
Komite Investasi dan Manajemen Risiko Dewan
Komisaris PT Pertamina Geothermal Energy Tbk,
Board of Commissioners’ Decision No. Kpts-
017/DK/PGE/2024-S0 dated 1 August 2024
regarding the Establishment and Appointment of
the Investment and Risk Management Committee
of the Board of Commissioners of PT Pertamina
Geothermal Energy Tbk,
2 John Anis Anggota/Komisaris Surat Keputusan Dewan Komisaris No. Kpts- 18 September 2025 - 17 September 2028
Member/Commissioner 010/DK/PGE/2025-S0 tentang Penetapan dan
Pengangkatan Komite Investasi dan Manajemen
Risiko Dewan Komisaris PT Pertamina
Geothermal Energy Tbk tanggal 18 September
2025
Decree of the Board of Commissioners No.
Kpts-010/DK/PGE/2025-S0 concerning the
Determination and Appointment of the Investment
and Risk Management Committee of the Board
of Commissioners of PT Pertamina Geothermal
Energy Tbk dated 18 September 2025
PT Pertamina Geothermal Energy Tbk
Page 321
Laporan Tahunan 2025 | 2025 Annual Report 319
Nama Jabatan Dasar Penunjukan Masa Jabatan
No
Name Position Basis of Appointment Term of Office
3 Andree Mulia Anggota Surat Keputusan Dewan Komisaris No. Kpts- 31 Oktober 2024 - 30 Oktober 2027
Krisdiansyah Harahap Member 023/DK/PGE/2024-S0 tentang Penetapan dan 31 October 2024 - 30 October 2027
Pengangkatan Komite Investasi dan Manajemen
Risiko Dewan Komisaris PT Pertamina
Geothermal Energy Tbk tanggal 3 Maret 2025
Decree of the Board of Commissioners No.
Kpts-023/DK/PGE/2024-S0 concerning the
Determination and Appointment of the Investment
and Risk Management Committee of the Board
of Commissioners of PT Pertamina Geothermal
Energy Tbk dated 3 March 2025
4 Yoga Marantika Anggota Surat Keputusan Dewan Komisaris No. Kpts- 3 Maret 2025 - 02 Maret 2028
Member 001/DK/PGE/2025-S0 tentang Penetapan dan 3 March 2025 - 2 March 2028
Pengangkatan Komite Investasi dan Manajemen
Risiko Dewan Komisaris PT Pertamina
Geothermal Energy Tbk tanggal 3 Maret 2025
Decree of the Board of Commissioners No.
Kpts-001/DK/PGE/2025-S0 concerning the
Determination and Appointment of the Investment
and Risk Management Committee of the Board
of Commissioners of PT Pertamina Geothermal
Energy Tbk dated 3 March 2025
Masa jabatan anggota Komite Investasi Term of Office of Members of the
dan Manajemen Risiko Investment and Risk Management
Committee
Masa jabatan anggota komite tidak boleh lebih lama dari masa The term of office of committee members may not exceed the
jabatan Dewan Komisaris sebagaimana diatur dalam Anggaran term of office of the Board of Commissioners as governed in the
Dasar Perseroan, dan dapat dipilih kembali. Company’s Articles of Association, and they may be re-elected.
Masa jabatan anggota komite yang berasal dari luar Perseroan The term of office of committee members from outside the Company
paling lama 3 (tiga) tahun dan dapat diangkat kembali paling is a maximum of 3 (three) years and may be reappointed for a
lama 2 (dua) tahun, dengan tidak mengurangi hak Dewan maximum of 2 (two) years, without prejudice to the right of the
Komisaris untuk memberhentikannya sewaktu-waktu. Board of Commissioners to dismiss them at any time.
PT Pertamina Geothermal Energy Tbk
Page 322
320 Laporan Tahunan 2025 | 2025 Annual Report
Profil Anggota Komite Investasi dan Profile of Members of the Investment
Manajemen Risiko and Risk Management Committee
Profil ketua dan anggota komite yang merupakan anggota The profiles of the Chairman and members of the committee who
Dewan Komisaris yaitu: are members of the Board of Commissioners are:
1. Bapak Gigih Udi Atmo sebagai Komisaris Utama 1. Mr. Gigih Udi Atmo as President Commissioner
2. Bapak John Anis sebagai Komisaris 2. Mr. John Anis as Commissioner
Dapat dilihat pada bagian Profil Dewan Komisaris dalam Can be seen in the Profile of the Board of Commissioners section
Laporan Tahunan ini. of this Annual Report.
Usia | Age 49 tahun | 49 years old
Kewarganegaraan Indonesia | Indonesian
Nationality
Domisili | Domicile Jakarta
Riwayat Pendidikan • MBA Class of December 2009, INSEAD (2009)
Educational Background • Sarjana Teknik Sipil, Institut Teknologi Bandung (1999)
• MBA Class of December 2009, INSEAD (2009)
• Bachelor of Civil Engineering, Bandung
Rangkap Jabatan • Vice President Business Development New Renewable Energy-
Concurrent Position PT Pertamina Power Indonesia (2024-sekarang)
• Direktur Utama-PT Jawa Satu Regas (2025-sekarang
• Vice President Business Development New Renewable Energy -
PT Pertamina Power Indonesia (2024-present)
• President Director–PT Jawa Satu Regas (2025-present)
Pengalaman Kerja • Client Partner, Country Manager Indonesia & Head of Energy
Work Experience & Renewables Asia Pacific–Pedersen & Partners (2024)
• Co-Founder–Threefold Partners (2023)
• Principal/Associate Partner, APMEA Energy & Cleantech
and Indonesia Industrial Practice Leader–Egon Zehnder
(2017- 2023)
• Head of Petroleum Analysis & Economics–TotalEnergies
(2016-2017)
• Petroleum Architect (Project Manager & Field Development
Engineer)–TotalEnergies (2013-2016)
• Business Development & Negotiator–TotalEnergies
(2010-2013)
• Country Sales Engineer–Schlumberger (2007-2008)
• Project Engineer, Service Quality Coach–Schlumberger
(2005-2007)
• General Field Engineer–Schlumberger (2003-2005)
• Field Engineer Development Program–Schlumberger
(2000-2003)
Andree Mulia
Krisdiansyah Harahap
Pihak Eksternal
External Party
PT Pertamina Geothermal Energy Tbk
Page 323
Laporan Tahunan 2025 | 2025 Annual Report 321
Usia | Age 38 tahun | 38 years old
Kewarganegaraan Indonesia | Indonesian
Nationality
Domisili | Domicile Bandung
Riwayat Pendidikan Sarjana Hukum, Universitas Padjadjaran (2010)
Educational Background
Bachelor of Law, Padjadjaran University (2010)
Rangkap Jabatan Koordinator Hukum - Direktorat Jenderal Energi Baru, Terbarukan,
Concurrent Position dan Konservasi Energi, Kementerian ESDM (2023-sekarang)
Legal Coordinator - Directorate General of New, Renewable
Energy, and Energy Conservation, Ministry of Energy and Mineral
Resources (2023-present)
Pengalaman Kerja • Koordinator Hukum - Direktorat Jenderal Energi Baru,
Work Experience Terbarukan, dan Konservasi Energi, Kementerian ESDM
(2023-sekarang)
• Sub Koordinator Penyusun Peraturan Perundang-undangan dan
Sub koordinator Pertimbangan Hukum - Kementerian ESDM
(2016-2023)
• Analis Hubungan Komersial Mineral dan Batubara - Direktorat
Jenderal Mineral dan Batubara, Kementerian ESDM (2011-
2012)
• Analis Pelayanan Usaha Mineral dan Batubara - Kementerian
ESDM (2012-2016)
• Legal Coordinator - Directorate General of New, Renewable
Energy, and Energy Conservation, Ministry of Energy and
Mineral Resources (2023-present)
• Sub-Coordinator of Legislation Drafting and Sub-Coordinator
of Legal Considerations - Ministry of Energy and Mineral
Resources (2016-2023)
• Mineral and Coal Commercial Relations Analyst - Directorate
General of Mineral and Coal, Ministry of Energy and Mineral
Resources (2011-2012)
• Mineral and Coal Business Services Analyst - Ministry of
Energy and Mineral Resources (2012-2016)
Yoga Marantika
Pihak Eksternal
External Party
Independensi Komite Investasi dan Independence of the Investment and Risk
Manajemen Risiko Management Committee
Seluruh anggota Komite Investasi dan Manajemen Risiko telah All members of the Investment and Risk Management Committee
menyatakan independensinya, yang menegaskan bahwa mereka have declared their independence, confirming that they have
tidak memiliki hubungan dengan kepengurusan, kepemilikan no management relationships, share ownership, or familial
saham, maupun hubungan keluarga hingga derajat kedua relationships up to the second degree with any member of the
dengan anggota Dewan Komisaris, Direksi, maupun Pemegang Board of Commissioners, Board of Directors, or Controlling
Saham Pengendali. Shareholder.
Pernyataan Independensi Gigih Udi Andree Mulia Yoga
No. John Anis
Statement of Independence Atmo Krisna Harahap Marantika
1 Tidak bekerja atau memiliki wewenang untuk
merencanakan, memimpin, mengendalikan, atau
mengawasi kegiatan Perseroan dalam 6 bulan terakhir.
√ √ √ √
Does not work or have the authority to plan, lead, control or
supervise the Company's activities within the last 6 months
2 Tidak secara langsung maupun tidak langsung memiliki
saham di Perseroan.
√ √ √ √
Does not directly or indirectly own shares in the Company.
PT Pertamina Geothermal Energy Tbk
Page 324
322 Laporan Tahunan 2025 | 2025 Annual Report
Pernyataan Independensi Gigih Udi Andree Mulia Yoga
No. John Anis
Statement of Independence Atmo Krisna Harahap Marantika
3 Tidak memiliki hubungan afiliasi dengan Perseroan atau
pemegang saham utama/ pengendali atau salah satu
anggota Dewan Komisaris atau Direksi.
√ √ √ √
Does not have any affiliated relationship with the Company
or the major/controlling shareholders or any member of the
Board of Commissioners or Board of Directors.
4 Tidak memiliki hubungan kerja atau profesional secara
langsung maupun tidak langsung dengan Perseroan.
√ √ √ √
Does not have any direct or indirect working or professional
relationship with the Company.
Rapat Komite Investasi dan Manajemen Investment and Risk Management
Risiko Committee Meetings
Kebijakan Rapat Meeting Policies
1. Rapat Komite Investasi dan Manajemen Risiko 1. Investment and Risk Management Committee meetings are
diselenggarakan secara berkala paling kurang 1 (satu) kali held periodically, at least once a month.
dalam satu bulan.
2. Rapat dapat diselenggarakan dengan kehadiran secara 2. Meetings may be held in person or via teleconference,
fisik maupun non-fisik melalui media telekonferensi, video videoconference, or other suitable electronic media.
konferensi, atau sarana media elektronik lainnya yang
memungkinkan.
3. Keputusan rapat komite diambil berdasarkan musyawarah 3. Resolutions at committee meetings are made by deliberation
untuk mufakat atau suara terbanyak jika tidak tercapai to achieve consensus or by majority vote if consensus cannot
mufakat. be reached.
4. Hasil rapat komite dituangkan dalam risalah rapat dan 4. The results of committee meetings are recorded in minutes
ditandatangani oleh seluruh anggota Komite yang hadir of meetings, signed by all committee members present, and
serta didokumentasikan. Risalah rapat disampaikan secara documented. The minutes are submitted in writing to the
tertulis kepada Dewan Komisaris. Board of Commissioners.
5. Komite Investasi dan Manajemen Risiko dapat mengambil 5. The Investment and Risk Management Committee may make
keputusan yang sah tanpa mengadakan Rapat, dengan valid resolutions without holding a meeting, provided that
ketentuan semua anggota komite telah diberitahu secara all committee members have been notified in writing and all
tertulis dan semua anggota komite memberikan persetujuan committee members have approved the proposals in writing
mengenal usul yang diajukan secara tertulis dengan by signing a circular agreement.
menandatangani suatu persetujuan sirkular.
Frekuensi dan Tingkat Kehadiran Rapat Investment and Risk Management
Investasi dan Manajemen Risiko Meetings Frequency and Attendance
Level
Pada tahun 2025, Komite Investasi dan Manajemen Risiko telah In 2025, the Investment and Risk Management Committee held
menyelenggarakan rapat sebanyak 35 (tiga puluh lima) kali. 35 (thirty-five) meetings. The Committee also attended 12 (twelve)
Komite juga menghadiri rapat gabungan Dewan Komisaris joint meetings of the Board of Commissioners and the Board of
dengan Direksi sebanyak 12 (dua belas) kali dan rapat gabungan Directors and 21 (twenty-one) joint meetings of functions.
fungsi sebanyak 21 (dua puluh satu) kali.
PT Pertamina Geothermal Energy Tbk
Page 325
Laporan Tahunan 2025 | 2025 Annual Report 323
Tingkat Kehadiran Rapat Komite Investasi dan Manajemen Risiko
Investment and Risk Management Committee Meetings Attendance Level
Nama Jabatan Jumlah Rapat Tingkat Kehadiran Persentase (%)
No
Name Position Number of Meeting Attendance Level Percentage (%)
Ketua/ Komisaris Utama
1 Gigih Udi Atmo Chairman/President 35 34 97,1%
Commissioner
Anggota/ Komisaris
2 John Anis*) 7 3 42,8%
Member/Commissioner
Andree Mulia Anggota
3 35 35 100%
Krisdiansyah Harahap Member
Anggota
4 Yoga Marantika 35 30 85,7%
Member
*) John Anis diangkat sebagai anggota Komite Investasi dan Manajemen Risiko efektif per tanggal 18 September 2025
*) John Anis was appointed as a member of the Investment and Risk Management Committee effective September 18, 2025
Pelaksanaan Kegiatan Investasi dan Implementation of Investment and Risk
Manajemen Risiko Tahun 2025 Management Activities in 2025
Selama tahun 2025, Komite Investasi dan Manajemen Risiko In 2025, the Investment and Risk Management Committee
telah melaksanakan tugas dan tanggung jawab terkait fungsi carried out the following duties and responsibilities related to the
Investasi dan Manajemen Risiko sebagai berikut: Investment and Risk Management function:
1. Mengevaluasi Perencanaan Perseroan 1. Evaluating the Company’s Planning
2. Memantau dan Menganalisis Pelaksanaan Rencana Kerja 2. Monitoring and Analyzing the Implementation of the
dan Investasi Perseroan Company’s Work Plan and Investment
3. Pengawasan dan Pengkajian terhadap Kebijaksanaan 3. Supervising and Reviewing the Company’s Investment Policy
Investasi Perseroan
4. Mengevaluasi Feasibility Study atas Usulan Investasi 4. Evaluating Feasibility Studies for Investment Proposals
5. Mengevaluasi Efektivitas Manajemen Risiko 5. Evaluating the Effectiveness of Risk Management
6. Kunjungan Kerja (Site Visit) ke WKP PGE sebanyak 7 (tujuh) 6. Conducting 7 (seven) site visits to PGE’s Working Areas
kali
7. Governance pada Kelembagaan Komite Investasi dan 7. Governance within the Investment and Risk Management
Manajemen Risiko Committee Institution
PT Pertamina Geothermal Energy Tbk
Page 326
324 Laporan Tahunan 2025 | 2025 Annual Report
Pengembangan Kompetensi Anggota Competency Development for Investment
Komite Investasi dan Manajemen Risiko and Risk Management Committee
Members
Pada tahun 2025, anggota komite mengikuti program In 2025, committee members participated in competency
pengembangan kompetensi melalui pelatihan-pelatihan sebagai development programs through the following training:
berikut:
Waktu dan Tempat
Jenis Pelatihan Nama Penyelenggara
Penyelenggaraan
Training Type Name Organizer
Time and Venue
Abu Dhabi Sustainability Week (ADSW) John Anis 14-16 Januari 2025 (Abu Dhabi) Masdar
14-16 January 2025 (Abu Dhabi)
Comprehensive Professional Training Program 1. Gigih Udi Atmo 31 Januari 2025 (Online) RWI Consulting -
for Certified Risk Professional (CRP®) 2. Andree Mulia 31 January 2025 (Online) PT Jagad Prima Mandiri
3. Yoga Marantika
Sinergi Pengawasan dan Evaluasi Laporan 1. Gigih Udi Atmo 24 November 2025 (Online) PT Transformasi Inovasi
Keuangan PGE, Benchmarking Industri 2. Andree Mulia Manajemen dan Universitas
Geothermal dengan Perusahaan Sejenis di 3. Yoga Marantika Padjadjaran
Indonesia dan Global (Filipina)
Synergy of Supervision and Evaluation of
PGE Financial Statements, Benchmarking the
Geothermal Industry with Similar Companies in
Indonesia and Globally (Philippines)
Dinamika Pergantian Pengurus dari Aspek Hukum, 1. Gigih Udi Atmo 1 Desember 2025 (Online) PT Transformasi Inovasi
Transparansi, dan Keberlangsungan Bisnis 2. John Anis Manajemen
PT PGE Tbk 3. Andree Mulia 1 December 2025 (Online)
4. Krisdiansyah Harahap
Dynamics of Management Changes from the
Legal, Transparency, and Business Sustainability
Aspects of PT PGE Tbk
Indonesia International Geothermal Convention & 1. Gigih Udi Atmo 17 September 2025 Kementerian ESDM, Asosiasi
Exhibition (IIGCE) 2025 2. John Anis Panas Bumi Indonesia (API),
Indonesia Geothermal
Association (INAGA)
PT Pertamina Geothermal Energy Tbk
Page 327
Laporan Tahunan 2025 | 2025 Annual Report 325
PT Pertamina Geothermal Energy Tbk
Page 328
326 Laporan Tahunan 2025 | 2025 Annual Report
Direksi
The Board of Directors
Direksi merupakan organ utama Perseroan yang berwenang The Board of Directors is the primary organ of the Company,
dan bertanggung jawab penuh atas pengelolaan Perseroan authorized and fully responsible for managing the Company for
untuk kepentingan dan tujuan Perseroan. Direksi dapat mewakili the interests and objectives of the Company. The Board of Directors
Perseroan baik di dalam maupun di luar pengadilan sesuai may represent the Company both inside and outside the courts
dengan ketentuan dan anggaran dasar Perseroan. Anggota in accordance with the provisions and the Company’s articles of
Direksi diangkat dan diberhentikan oleh Rapat Umum Pemegang association. Members of the Board of Directors are appointed
Saham (RUPS). and dismissed by the General Meeting of Shareholders (GMS).
DASAR HUKUM LEGAL BASIS
Ketentuan mengenai Direksi Perseroan mengacu pada peraturan Provisions regarding the Company’s Board of Directors refer to
dan perundang undang sebagai berikut: the following laws and regulations:
• Undang-Undang Nomor 40 Tahun 2007 tentang Perseroan • Law Number 40 of 2007 concerning Limited Liability
Terbatas. Companies.
• Peraturan Menteri Badan Usaha Milik Negara (BUMN) • Regulation of the Minister of State-Owned Enterprises (SOE)
No. Per-2/MBU/03/2023 tentang Pedoman Tata Kelola dan No. Per-2/MBU/03/2023 concerning Guidelines for
Kegiatan Korporasi Signifikan. Governance and Significant Corporate Activities.
• Peraturan Menteri Badan Usaha Milik Negara (BUMN) • Regulation of the Minister of State-Owned Enterprises (SOE)
No. Per-3/MBU/03/2023 tentang Organ dan Sumber Daya No. Per-3/MBU/03/2023 concerning Organs and Human
Manusia Badan Usaha Milik Negara. Resources of State-Owned Enterprises.
• Peraturan Otoritas Jasa Keuangan No.33/POJK.04/2014 • Regulation of the Financial Services Authority (OJK)
tentang Direksi dan Dewan Komisaris Emiten atau Perusahaan No. 33/POJK.04/2014 concerning the Board of Directors
Publik. and Board of Commissioners of Issuers or Public Companies.
Perseroan juga memiliki Board Manual sebagai pedoman Direksi The Company also has a Board Manual as a guideline for the
dalam melaksanakan tugas dan tanggung jawabnya. Board of Directors in carrying out their duties and responsibilities.
KOMPOSISI DIREKSI COMPOSITION OF THE BOARD OF
DIRECTORS
Sebagaimana termuat dalam Anggaran Dasar, Perseroan diurus As stated in the Articles of Association, the Company is managed
dan dipimpin oleh Direksi yang terdiri dari sedikitnya 2 (dua) and led by a Board of Directors consisting of at least two (2)
orang anggota Direksi, dengan seorang di antaranya diangkat members, one of whom is appointed as the President Director.
sebagai Direktur Utama.
Penetapan komposisi Direksi mempertimbangkan kebutuhan The composition of the Board of Directors considers the
Perseroan yang didasarkan pada keberagaman pengetahuan, Company’s needs, based on the diversity of knowledge,
keahlian, pengalaman profesional, latar belakang guna expertise, professional experience, and background, to support
menunjang efektivitas pelaksanaan tugasnya tanpa membedakan the effective implementation of its duties without discrimination
jenis kelamin, suku, ras, dan agama. based on gender, ethnicity, race, or religion.
Komposisi anggota Direksi Perseroan telah memenuhi ketentuan The composition of the Company’s Board of Directors complies
dan perundang-undangan. Jumlah anggota Direksi terdiri dari with applicable laws and regulations. The Board of Directors
4 (empat) anggota dan 1 (satu) diantaranya sebagai Direktur consists of 4 (four) members, one of whom serves as the President
Utama. Director.
PT Pertamina Geothermal Energy Tbk
Page 329
Laporan Tahunan 2025 | 2025 Annual Report 327
Komposisi Direksi Perseroan per 31 Desember 2025 sebagai The composition of the Company’s Board of Directors as of 31
berikut: December 2025, is as follows:
Nama Jabatan Dasar Pengangkatan Masa Jabatan
Name Position Basis of Appointment Term of Office
Julfi Hadi *)
Direktur Utama Keputusan RUPS Tahunan Tahun 5 Juni 2023 - 4 Juni 2026
President Director Buku 2023 tanggal 5 Juni 2023 5 June 2023 - 4 June 2026
yang dinyatakan dalam Akta
Notaris No. 10 tanggal 8 Juni
2023
Resolutions of the Annual GMS for
the 2023 Financial Year dated 5
June 2023 as stated in Notarial
Deed No.10 dated 8 June 2023
Edwil Suzandi Direktur Eksplorasi dan Keputusan RUPSLB Tahun 2024 28 Mei 2024 - 27 Mei 2027
Pengembangan tanggal 28 Mei 2024 yang 28 May 2024 - 27 May 2027
Director of Exploration and dinyatakan dalam Akta Pernyataan
Development Rapat Umum Pemegang Saham
No. 19 tanggal 10 Juni 2024
Resolutions of the 2024 EGMS
dated 28 May 2024 as stated
in the Deed of Statement of the
General Meeting of Shareholders
No. 19 dated 10 June 2024
Ahmad Yani Direktur Operasi Keputusan RUPS Tahunan Tahun 5 Juni 2023 - 4 Juni 2026
Director of Operation Buku 2023 tanggal 5 Juni 2023 5 June 2023 - 5 June 2026
yang dinyatakan dalam Akta
Pernyataan Rapat Umum Pemegang
Saham No. 11 tanggal 8 Juni 2023
Resolutions of the Annual GMS for
the 2023 Financial Year dated 5
June 2023 as stated in the Deed of
Statement of the General Meeting
of Shareholders No. 11 dated 8
June 2023
Yurizki Rio Direktur Keuangan Keputusan RUPSLB Tahun 2024 12 Februari 2024 - 11 Februari
Director of Finance tanggal 12 Februari 2024 yang 2027
dinyatakan dalam Akta Pernyataan 12 February 2024 - 11 February
Rapat Umum Pemegang Saham No. 2027
12 tanggal 19 Februari 2024
Resolutions of the 2024 EGMS
dated 12 February 2024 as stated
in the Deed of Statement of the
General Meeting of Shareholders
No. 12 dated 19 February 2024
*) Mengundurkan diri efektif per tanggal 20 Januari 2026 | Resigned effective January 20, 2026
Sehubungan dengan pengunduran diri Bapak Julfi Hadi selaku In connection with the resignation of Mr. Julfi Hadi as President
Direktur Utama pada tanggal 25 November 2025 yang telah Director on 25 November 2025, which has been followed up
ditindaklanjuti melalui penyelenggaraan Rapat Umum Pemegang through the holding of the Extraordinary General Meeting of
Saham Luar Biasa (RUPSLB) tahun 2026 pada tanggal 20 Januari Shareholders (EGMS) in 2026 on 20 January 2026, the GMS
2026. RUPS telah menyetujui pemberhentian Bapak Julfi Hadi has approved the dismissal of Mr. Julfi Hadi as President Director
sebagai Direktur Utama, dan mengangkat Bapak Ahmad Yani and appointed Mr. Ahmad Yani as President Director of the
sebagai Direktur Utama Perseroan yang sebelumnya menjabat Company, who previously served as Director of Operations.
sebagai Direksur Operasi. RUPS tersebut juga menyetujui The GMS also approved the appointment of Mr. Andi Joko
pengangkatan Bapak Andi Joko Nugroho sebagai Direktur Nugroho as Director of Operations, based on the Resolution of
Operasi. Berdasarkan Keputusan RUPSLB Tahun 2026 tanggal the EGMS in 2026 dated 20 January 2026. The composition of
20 Januari 2026. Susunan anggota Direksi setelah perubahan the Board of Directors after the change is as follows:
tersebut menjadi sebagai berikut:
PT Pertamina Geothermal Energy Tbk
Page 330
328 Laporan Tahunan 2025 | 2025 Annual Report
Nama Jabatan
No.
Name Position
1 Ahmad Yani Direktur Utama |President Director
2 Edwil Suzandi Direktur Eksplorasi dan Pengembangan | Director of Exploration and Development
3 Andi Joko Nugroho Direktur Operasi | Director of Operation
4 Yurizki Rio Direktur Keuangan | Director of Finance
MASA JABATAN DIREKSI TERM OF OFFICE OF THE BOARD OF
DIRECTORS
Sebagaimana diatur dalam Anggaran Dasar Perseroan, masa As governed in the Company’s Articles of Association, the term
jabatan anggota Direksi ditetapkan selama 3 (tiga) tahun dan of office of members of the Board of Directors is set at 3 (three)
dapat diperpanjang untuk satu periode. Anggota Direksi dapat years and may be extended for one additional term. Members of
diberhentikan sewaktu-waktu oleh RUPS, dengan menyertakan the Board of Directors may be dismissed at any time by the GMS,
alasan yang jelas. with clear reasons stated.
PIAGAM DIREKSI (BOARD MANUAL) BOARD MANUAL FOR THE BOARD OF
DIRECTORS
Perseroan memiliki Board Manual yang menjadi pedoman The Company has a Board Manual that serves as a guideline or
atau acuan Direksi dalam melaksanakan tugas dan tanggung reference for the Board of Directors in carrying out their duties
jawabnya. Hal-hal yang diatur dalam Board Manual meliputi and responsibilities. Matters regulated in the Board Manual
antara lain: persyaratan dan keanggotaan Direksi, larangan include, among other things: requirements and membership of the
rangkap jabatan, masa jabatan, pemberhentian dan pengunduran Board of Directors, prohibition on concurrent positions, term of
diri, pengungkapan kepemilikan saham, independensi Direksi, office, dismissal and resignation, disclosure of share ownership,
etika jabatan, tugas dan kewajiban, hak dan kewenangan, independence of the Board of Directors, job ethics, duties and
pembagian tugas Direksi, rapat Direksi, pendelegasian obligations, rights and authorities, division of duties of the Board
wewenang anggota Direksi serta pertanggungjawaban Direksi. of Directors, Board of Directors meetings, delegation of authority
of members of the Board of Directors, and accountability of the
Board of Directors.
Board Manual dievaluasi secara berkala atau sesuai kebutuhan The Board Manual is evaluated periodically or as needed to
mengikuti perkembangan peraturan dan dinamika bisnis, terakhir follow regulatory developments and business dynamics. It was
dikinikan pada tanggal 30 Agustus 2023. last updated on 20 August 2023.
KRITERIA DIREKSI BOARD OF DIRECTORS CRITERIA
Persyaratan atau kriteria Direksi mengacu pada Peraturan The requirements and criteria for the Board of Directors refer
OJK Nomor 33/ POJK.04/2014 tentang Direksi dan Dewan to OJK Regulation Number 33/POJK.04/2014 concerning the
Komisaris Emiten atau Perusahaan Publik. Direksi wajib memenuhi Board of Directors and Board of Commissioners of Issuers or
persyaratan paling kurang sebagai berikut: Public Companies. The Board of Directors must meet at least the
following requirements:
1. Syarat umum meliputi: 1. General requirements include:
a. Mempunyai akhlak, moral, dan integritas yang baik. a. Have good morals, ethics, and integrity.
b. Cakap melakukan perbuatan hukum. b. Competent in performing legal acts.
c. Memiliki komitmen untuk mematuhi peraturan perundang- c. Have a commitment to complying with laws and
undangan dan tata Kelola perusahaan yang baik. regulations and good corporate governance.
d. Memiliki pengetahuan dan/atau keahlian di bidang d. Have knowledge and/or expertise in the fields required
yang dibutuhkan oleh Perseroan. by the Company.
PT Pertamina Geothermal Energy Tbk
Page 331
Laporan Tahunan 2025 | 2025 Annual Report 329
e. Dalam lima tahun sebelum pengangkatan dan selama e. Within the five years prior to the appointment and during
menjabat: their term of office:
1) Tidak pernah dinyatakan pailit. 1) Have never been declared bankrupt.
2) Tidak pernah menjadi anggota Direksi dan/atau 2) Have never been a member of the Board of Directors
anggota Dewan Komisaris yang dinyatakan bersalah and/or Board of Commissioners found guilty of
menyebabkan suatu perusahaan dinyatakan pailit. causing a company to be declared bankrupt.
• Tidak pernah dihukum karena melakukan tindak • Have never been convicted of a crime that caused
pidana yang merugikan keuangan negara dan/ financial losses to the state and/or related to the
atau yang berkaitan dengan sektor keuangan. financial sector.
• Tidak pernah menjadi anggota Direksi dan/atau • Have never been a member of the Board of
Dewan Komisaris yang selama menjabat: Directors and/or Board of Commissioners who,
during their term of office:
3) Pernah tidak menyelenggarakan RUPS. 3) Have never held a GMS.
• Pertanggungjawaban sebagai anggota Direksi • Have never been accepted as a member of the
dan/atau Dewan Komisaris pernah tidak diterima Board of Directors and/or Board of Commissioners
oleh RUPS atau tidak pernah memberikan by the GMS or have never submitted an
pertanggungjawaban sebagai anggota Direksi accountability report as a member of the Board of
dan/atau Dewan Komisaris kepada RUPS. Directors and/or Board of Commissioners to the
GMS.
• Pernah menyebabkan Perusahaan yang • Have ever caused a Company that has obtained
memperoleh izin, Persetujuan, atau pendaftaran a permit, approval, or registration from the
dari Otoritas Jasa Keuangan (OJK) tidak Financial Services Authority (OJK) to fail to fulfill
memenuhi kewajiban menyampaikan laporan its obligation to submit an Annual Report and/or
Tahunan dan/atau laporan keuangan kepada financial report to the OJK.
OJK.
4) Memiliki komitmen untuk mematuhi peraturan 4) Have a commitment to comply with laws and
perundang-undangan dan memiliki pengetahuan regulations and possess knowledge and/or expertise
dan/atau keahlian di bidang yang dibutuhkan in the fields required by the Company.
Perseroan.
2. Syarat lainnya meliputi: 2. Other requirements include:
a. Tidak memiliki hubungan keluarga sampai derajat ketiga, a. Does not have a familial relationship up to the third
baik menurut garis lurus maupun garis ke samping, degree, either vertically or horizontally, including in-laws
termasuk hubungan semenda (menantu atau ipar) (son-in-law or brother-in-law) with any member of the
dengan anggota Dewan Komisaris dan/ atau anggota Board of Commissioners and/or other members of the
Direksi lainnya. Board of Directors.
b. Bukan pengurus partai politik dan/atau anggota b. Not a political party official and/or member of the
legislatif. legislature.
c. Tidak sedang menduduki jabatan sebagai anggota c. Does not currently hold a position as a member of the
Direksi pada Badan Usaha Milik Daerah, Badan Board of Directors of a Regionally-Owned Enterprise,
Usaha Milik Swasta atau jabatan lainnya yang dapat Privately-Owned Enterprise, or any other position that
menimbulkan benturan kepentingan secara langsung could give rise to a direct or indirect conflict of interest
atau tidak langsung dengan Perseroan sesuai dengan with the Company in accordance with applicable laws
ketentuan peraturan perundang undangan yang berlaku. and regulations.
d. Tidak sedang menduduki jabatan lainnya sesuai dengan d. Does not currently hold any other position in accordance
ketentuan dalam peraturan perundang-undangan atau with the provisions of laws and regulations or any
jabatan lainnya yang dapat menimbulkan benturan other position that could give rise to a direct or indirect
kepentingan secara langsung atau tidak langsung conflict of interest with the Company in accordance with
dengan Perseroan sesuai dengan ketentuan peraturan applicable laws and regulations.
perundang-undangan yang berlaku.
PT Pertamina Geothermal Energy Tbk
Page 332
330 Laporan Tahunan 2025 | 2025 Annual Report
INDEPENDENSI DIREKSI INDEPENDENCE OF THE BOARD OF
DIRECTORS
Sebagai organ utama perusahaan yang bertanggung jawab As the primary organ of the company responsible for managing
mengelola Perseroan, Direksi wajib memenuhi ketentuan the Company, the Board of Directors is required to comply with
independensi sebagai berikut: the following independence requirements:
1. Direksi wajib menjaga independensinya dalam menjalankan 1. The Board of Directors must maintain its independence
tugas pengurusan Perseroan sesuai dengan etika jabatan in carrying out its management duties in accordance with
dan prinsip tata kelola Perusahaan. professional ethics and corporate governance principles.
2. Direksi mengambil keputusan secara objektif, tanpa benturan 2. The Board of Directors must make decisions objectively,
kepentingan dan bebas dari segala tekanan dari pihak without conflict of interest, and free from any pressure from
manapun. any party.
3. Direksi dilarang melakukan aktivitas yang dapat mengganggu 3. The Board of Directors is prohibited from engaging in activities
independensinya dalam mengurus Perseroan. that could compromise its independence in managing the
Company.
PROGRAM ORIENTASI DIREKSI BARU NEW BOARD OF DIRECTOR ORIENTATION
PROGRAM
Anggota Direksi yang baru menjabat diwajibkan mengikuti Newly appointed members of the Board of Directors are required
program pengenalan atau orientasi untuk memberikan to participate in an induction or orientation program to provide
pemahaman mengenai kondisi umum Perseroan, visi, misi, an understanding of the Company’s general conditions, vision,
strategi dan proses bisnis Perseroan. Program Orientasi mission, strategy, and business processes. The orientation
diberikan dapat berupa presentasi, pertemuan atau kunjungan program may include presentations, meetings, visits to the
ke lingkungan Perseroan serta program-program lainnya sesuai Company’s premises, and other programs as needed.
kebutuhan anggota Direksi tersebut.
Materi orientasi mencakup penjelasan mengenai penerapan The orientation material includes an explanation of the application
prinsip-prinsip GCG, kondisi umum Perseroan, tugas dan of GCG principles, the general condition of the Company, the
tanggung jawab Direksi, kewenangan yang didelegasikan, duties and responsibilities of the Board of Directors, delegated
serta tata laksana hubungan dengan organ Perseroan lainnya authority, and the governance of relations with other Company
termasuk mengenai teknis dan waktu pelaksanaannya. Secara organs, including technical matters and implementation timelines.
khusus anggota Direksi juga akan mendapatkan informasi Specifically, members of the Board of Directors will also receive
tambahan terkait pengembangan panas bumi Indonesia dan additional information regarding the development of geothermal
Perseroan, serta tantangan dan harapan Perseroan ke depan. energy in Indonesia and the Company, as well as the Company’s
future challenges and expectations.
Program orientasi ini dilakukan paling lambat 90 (sembilan This orientation program will be conducted no later than 90
puluh) hari kalender setelah pengangkatan anggota Direksi oleh (ninety) calendar days after the appointment of members of the
RUPS. Board of Directors by the GMS.
Pada tahun 2025, tidak terdapat pengangkatan anggota Direksi In 2025, there was no appointment of members of the Board of
yang dilakukan melalui RUPS Tahunan/RUPSLB. Directors through the Annual GMS/EGMS.
TUGAS DAN TANGGUNG JAWAB DIREKSI DUTIES AND RESPONSIBILITIES OF THE
BOARD OF DIRECTORS
Tugas dan tanggung jawab Direksi dituangkan dalam Board The duties and responsibilities of the Board of Directors are
Manual antara lain sebagai berikut: outlined in the Board Manual, including the following:
1. Menjalankan segala tindakan yang berkaitan dengan 1. Carrying out all actions related to the management of the
pengurusan Perseroan untuk kepentingan Perseroan dan Company for the benefit of the Company and in accordance
sesuai dengan maksud dan tujuan Perseroan. with the Company’s purposes and objectives.
2. Mewakili Perseroan baik di dalam maupun di luar pengadilan 2. Representing the Company both inside and outside the court
tentang segala hal dan segala kejadian dengan pembatasan- on all matters and events, subject to limitations as stipulated
pembatasan sebagaimana diatur dalam peraturan perundang in laws and regulations, the Articles of Association, and/or
undangan, Anggaran Dasar dan/atau Keputusan RUPS. GMS Resolutions.
PT Pertamina Geothermal Energy Tbk
Page 333
Laporan Tahunan 2025 | 2025 Annual Report 331
3. Mencurahkan tenaga, pikiran, perhatian dan pengabdiannya 3. Devote their energy, thoughts, attention, and dedication
secara penuh pada tugas, kewajiban dan pencapaian tujuan fully to their duties, obligations, and the achievement of the
Perseroan. Company’s goals.
4. Menyiapkan Rencana Jangka Panjang Perusahaan (RJPP) 4. Prepare the Company’s Long-Term Plan (RJPP), a strategic
yang merupakan rencana strategis yang memuat sasaran plan containing the Company’s goals and objectives to
dan tujuan Perseroan yang hendak dicapai dalam jangka be achieved over a five-year period, which has received
waktu lima tahun, yang telah mendapatkan persetujuan unanimous approval from the Board of Commissioners.
dengan suara bulat dari Dewan Komisaris.
5. Menyiapkan rancangan Rencana Kerja dan Anggaran 5. Prepare a draft of the Company’s Work Plan and Budget
Perusahaan (RKAP) yang merupakan penjabaran tahunan (RKAP), which is an annual elaboration of the RJPP and has
dari RJPP dan telah mendapat persetujuan Dewan Komisaris. received approval from the Board of Commissioners.
6. Mengadakan dan memelihara pembukuan dan administrasi 6. Organize and maintain the Company’s bookkeeping and
Perseroan sesuai kelaziman yang berlaku bagi suatu administration in accordance with applicable corporate
Perseroan. practices.
7. Menyampaikan Laporan Tahunan yang telah ditandatangani 7. Submit the Annual Report, signed by the Board of Directors
oleh Direksi dan Dewan Komisaris kepada RUPS untuk and the Board of Commissioners, to the GMS for approval
mendapatkan persetujuan, dalam waktu lima bulan setelah within five months after the close of the Company’s financial
tahun buku Perseroan ditutup. year.
8. Menyusun sistem akuntansi sesuai dengan Standar 8. Establish an accounting system in accordance with Financial
Akuntansi Keuangan (SAK) dan berdasarkan prinsip- Accounting Standards (SAK) and based on the principles of
prinsip pengendalian internal, terutama fungsi pengurusan, internal control, particularly the functions of management,
pencatatan, penyimpanan, dan pengawasan. recording, storage, and supervision.
9. Memberikan pertanggung jawaban dan segala keterangan 9. Provide accountability and all information regarding the
tentang jalannya Perseroan berupa Laporan Kegiatan Company’s operations in the form of Company Activity
Perseroan, termasuk Laporan Keuangan, baik dalam bentuk Reports, including Financial Statements, both in the form of
laporan berkala menurut cara dan waktu yang ditentukan periodic reports in the manner and at the time specified in
dalam Anggaran Dasar serta setiap saat diminta oleh RUPS. the Articles of Association and at any time requested by the
GMS.
10. Menyiapkan dan menetapkan susunan organisasi Perseroan 10. Prepare and determine the Company’s organizational
lengkap dengan perincian dan tugasnya. structure, complete with details and duties.
11. Memberikan penjelasan tentang segala hal yang dinyatakan 11. Provide explanations on all matters stated or requested by the
atau diminta Dewan Komisaris. Board of Commissioners.
12. Menjalankan kewajiban-kewajiban lainnya sesuai dengan 12. Carry out other obligations in accordance with the provisions
ketentuan yang diatur dalam Anggaran Dasar dan ditetapkan stipulated in the Articles of Association and determined by the
oleh RUPS berdasarkan peraturan perundang-undangan GMS in accordance with applicable laws and regulations.
yang berlaku.
13. Selaras dengan kebijakan dan peraturan PT Pertamina Power 13. In line with the policies and regulations of PT Pertamina
Indonesia sebagai pemegang saham pengendali, selama PT Power Indonesia as the controlling shareholder, as long as PT
Pertamina Power Indonesia masih menjadi pemegang saham Pertamina Power Indonesia remains the majority shareholder
mayoritas Perseroan dan selama kebijakan dan peraturan of the Company and as long as the policies and regulations
tersebut tidak bertentangan dengan ketentuan Anggaran do not conflict with the provisions of the Company’s Articles
Dasar Perseroan. of Association.
Wewenang Direksi Authority of the Board of Directors
1. Menetapkan kebijakan dalam memimpin pengurusan 1. Establish policies for leading the management of the
Perseroan, termasuk untuk Anak Perusahaan. Company, including for its Subsidiaries.
2. Mengatur ketentuan-ketentuan tentang kepegawaian 2. Regulate provisions regarding the Company’s personnel,
Perseroan termasuk pembinaan pegawai, penetapan upah including employee development, determination of wages
dan penghasilan lain, pesangon dan/atau penghargaan and other income, severance pay and/or awards for service,
atas pengabdian serta manfaat pensiun bagi para pegawai and retirement benefits for the Company’s employees, based
Perseroan berdasarkan peraturan perundang-undangan on applicable laws and regulations and/or resolutions of the
yang berlaku dan/ atau keputusan RUPS. GMS.
3. Mengangkat dan memberhentikan pegawai Perseroan 3. Appoint and dismiss the Company’s employees based on
berdasarkan peraturan kepegawaian dan peraturan applicable personnel regulations and laws and regulations.
perundang-undangan yang berlaku.
PT Pertamina Geothermal Energy Tbk
Page 334
332 Laporan Tahunan 2025 | 2025 Annual Report
4. Mengatur penyerahan kekuasaan Direksi untuk mewakili 4. Arrange the transfer of the Board of Directors’ authority to
Perseroan di dalam dan di luar pengadilan kepada seorang represent the Company in and out of court to one or more
atau beberapa orang anggota Direksi yang khusus ditujukan members of the Board of Directors specifically designated for
untuk hal tersebut, atau kepada seorang atau beberapa such purposes, or to one or more employees of the Company,
orang pekerja Perseroan baik sendiri-sendiri maupun either individually or jointly with other parties.
bersama-sama dengan kepada pihak lain.
5. Mengangkat dan memberhentikan Sekretaris Perusahaan 5. Appoint and dismiss the Corporate Secretary based on
berdasarkan aturan dan ketentuan yang berlaku. applicable rules and provisions.
6. Menjalankan tindakan-tindakan lainnya baik mengenai 6. Carry out other actions regarding the management and
pengurusan maupun mengenai pemilikan kekayaan ownership of the Company’s assets, in accordance with
Perseroan, sesuai dengan ketentuan- ketentuan yang diatur the provisions stipulated in the Articles of Association and
dalam Anggaran Dasar dan yang ditetapkan oleh RUPS those determined by the GMS based on applicable statutory
berdasarkan peraturan perundang-undangan yang berlaku. regulations.
7. Menyusun sasaran kinerja dan evaluasi kinerja Perseroan 7. Develop performance targets and evaluate the Company’s
sesuai ketentuan yang berlaku. performance in accordance with applicable regulations.
8. Mengupayakan tercapainya sasaran kinerja Perseroan 8. Strive to achieve the Company’s performance targets, including
yang meliputi antara lain indikator aspek keuangan, aspek financial, operational, and administrative indicators, which
operasional dan aspek administrasi yang digunakan sebagai are used as the basis for assessing the Company’s soundness,
dasar penilaian tingkat kesehatan Perseroan sesuai dengan in accordance with the performance established in the GMS
kinerja yang telah ditetapkan dalam RUPS terkait Persetujuan regarding the Approval of the Company’s Work Plan and
Rencana Kerja dan Anggaran Perseroan. Budget.
9. Menetapkan pejabat Perseroan sampai jenjang tertentu yang 9. Appoint Company officials up to certain levels as regulated
diatur melalui ketetapan Direksi. by a Board of Directors decree.
10. Sepanjang tidak ditetapkan oleh RUPS, Direksi dapat 10. Unless stipulated by the GMS, the Board of Directors may
menetapkan pembagian tugas dan wewenang di antara determine the division of duties and authorities among the
Direksi dalam suatu Keputusan Direksi, tanpa membatasi Board of Directors in a Board of Directors Decree, without
tugas, wewenang, dan tanggung jawab sebagai anggota limiting the duties, authorities, and responsibilities of each
Direksi sesuai ketentuan yang tercantum dalam Anggaran member of the Board of Directors in accordance with the
Dasar, guna menjalankan tugas pokok sebagai anggota. provisions set forth in the Articles of Association, in order to
carry out their primary duties as members.
Pembidangan Tugas Direksi Division of Duties of the Board of
Directors
Pembidangan tugas masing-masing anggota Direksi sebagai The division of duties of each member of the Board of Directors
berikut: are as follows:
Jabatan Bidang Tugas dan Tanggung Jawab
Position Areas of Duties and Responsibilities
Direktur Utama 1. Memberikan arahan dan mengendalikan visi, misi dan strategi serta kebijakan Perseroan.
President Director 2. Memimpin para Anggota Direksi dalam melaksanakan keputusan Direksi.
3. Menyelenggarakan dan memimpin Rapat Direksi secara periodik sesuai ketetapan Direksi atau rapat-rapat lain
apabila dipandang perlu sesuai usulan Direksi.
4. Menentukan keputusan yang diambil dalam Rapat Direksi, apabila terdapat jumlah suara yang setuju dan tidak
setuju sama banyaknya.
5. Apabila berhalangan, menunjuk salah seorang Direktur untuk memimpin Rapat Direksi.
6. Atas nama Direksi, mengesahkan semua Surat Keputusan Direksi/Direktur Utama sesuai dengan jenis keputusan
yang diatur dalam Anggaran Dasar atau ketetapan lainnya.
7. Atas nama Direksi, mewakili Perseroan di dalam maupun di luar pengadilan dan/atau dapat menunjuk anggota
Direksi lain, pekerja atau pihak lain untuk mewakili Perseroan di dalam dan di luar pengadilan, termasuk mewakili
Perseroan sebagai pemegang saham pada anak perusahaan, perusahaan patungan dan/atau badan usaha
lainnya.
8. Memimpin dan mendorong terlaksananya pembentukan budaya Perseroan, peningkatan citra dan tata kelola
Perseroan (Good Corporate Governance).
9. Bertanggungjawab atas fungsi-fungsi yang berada di bawah supervise langsung Direktur Utama, antara lain
Corporate Secretary, Internal Audit, Human Capital & Business Support, Legal & Compliance dan HSSE.
10. Memberikan informasi kepada stakeholders terhadap keputusan Direksi yang memberi dampak besar kepada publik
baik yang berkaitan dengan keputusan bisnis, aspek legal, ataupun isu-isu tentang Perseroan yang berkembang di
masyarakat.
11. Dalam menjalankan tugas dan wewenangnya, Direktur Utama dapat melimpahkan sebagian tugas dan
wewenangnya kepada Direksi lainnya sesuai dengan tugas dan wewenang masing-masing Direksi tersebut.
12. Dalam menjalankan tugas dan wewenangnya, Direktur Utama berwenang melakukan korespondensi dengan pihak
eksternal yang terkait.
PT Pertamina Geothermal Energy Tbk
Page 335
Laporan Tahunan 2025 | 2025 Annual Report 333
Jabatan Bidang Tugas dan Tanggung Jawab
Position Areas of Duties and Responsibilities
1. Provide direction and control the Company’s vision, mission, strategy, and policies.
2. Lead the members of the Board of Directors in implementing the Board of Directors’ resolutions.
3. Hold and chair periodic Board of Directors’ meetings in accordance with the Board of Directors’ resolutions or other
meetings as deemed necessary based on the Board of Directors’ recommendations.
4. Determine resolutions taken at the Board of Directors’ meetings if there are an equal number of votes in favor and
against.
5. If unable to attend, appoint a Director to chair the Board of Directors’ meetings.
6. On behalf of the Board of Directors, ratify all Resolutions of the Board of Directors/President Director in accordance
with the types of resolutions governed in the Articles of Association or other provisions.
7. On behalf of the Board of Directors, represent the Company both inside and outside the court and/or may appoint
other Board of Directors members, employees, or other parties to represent the Company both inside and outside the
court, including representing the Company as a shareholder in subsidiaries, joint ventures, and/or other business
entities.
8. Lead and encourage the implementation of the Company’s culture, image, and good corporate governance.
9. Responsible for functions under the direct supervision of the President Director, including Corporate Secretary, Internal
Audit, Human Capital & Business Support, Legal & Compliance, and HSSE.
10. Provide information to stakeholders regarding Board of Directors resolutions that have a significant impact on the
public, whether related to business decisions, legal aspects, or issues concerning the Company that are developing in
the community.
11. In carrying out his duties and authorities, the President Director may delegate some of his duties and authorities to
other Directors in accordance with the respective duties and authorities of each Director.
12. In carrying out his duties and authorities, the President Director is authorized to conduct correspondence with relevant
external parties.
Direktur Eksplorasi dan 1. Mengkaji kelayakan bisnis baru sesuai rencana bisnis dan kebijakan pertumbuhan usaha Perseroan.
Pengembangan 2. Memimpin dan mengendalikan seluruh kegiatan proyek yang bersifat growth (Proyek Baru, Proyek Perluasan, dan
Director of Exploration Proyek Penyiapan Area Baru).
and Development 3. Melakukan evaluasi segenap kegiatan pengembangan bisnis berbasis risk management dan menjaga hubungan
baik dengan pihak pelanggan untuk memastikan lingkup dan persyaratan kontrak yang menguntungkan bagi
Perseroan.
4. Memimpin dan mengendalikan segenap kegiatan survei geokimia, geologi dan geofisika.
5. Mengkoordinir penyusunan RKA (Rencana Kerja dan Anggaran) dan RJP (Rencana Jangka Panjang) Perseroan serta
melakukan evaluasi perencanaan secara berkala.
6. Memimpin dan mengendalikan pengelolaan sumber daya yang berada dalam tanggung jawab Direktorat Eksplorasi
dan Pengembangan.
7. Perencanaan, pelaksanaan dan pengendalian proyek untuk memastikan bahwa tujuan project antara lain Safety, On
Time, On Budget, On Specification dan On Return dapat tercapai.
8. Melaporkan secara berkala segenap kemajuan kegiatan kepada Direktur Utama.
9. Bersama-sama dengan Direktorat lain melakukan sinergi, kerjasama yang kuat dan saling mendukung dalam
aktivitas bisnis dan operasional Perseroan sehari-hari.
10. Dalam menjalankan tugas dan wewenangnya, Direktur Eksplorasi dan Pengembangan berwenang mewakili
Perseroan di dalam maupun di luar pengadilan dan/atau dapat menunjuk anggota Direksi lain, pekerja atau pihak
lain untuk mewakili Perseroan di dalam dan di luar pengadilan.
11. Dalam menjalankan tugas dan wewenangnya, Direktur Eksplorasi dan Pengembangan berwenang melakukan
korespondensi dengan pihak eksternal yang terkait.
1. Assess the feasibility of new businesses in accordance with the Company's business plan and growth policies.
2. Lead and control all growth project activities (New Projects, Expansion Projects, and New Area Preparation Projects).
3. Evaluate all business development activities based on risk management and maintain good relationships with
customers to ensure favorable contract scopes and terms for the Company.
4. Lead and control all geochemical, geological, and geophysical survey activities.
5. Coordinate the preparation of the Company's Work Plan and Budget (RKA) and Long-Term Plan (RJP) and conduct
regular planning evaluations.
6. Lead and control the management of resources under the responsibility of the Exploration and Development
Directorate.
7. Plan, implement, and control projects to ensure that project objectives, including Safety, On-Time, On-Budget, On-
Specification, and On-Return, are achieved.
8. Report regularly on all activity progress to the President Director.
9. Together with other Directorates, establish synergy, strong cooperation, and mutual support in the Company's daily
business and operational activities.
10. In carrying out its duties and authorities, the Director of Exploration and Development has the authority to represent
the Company both inside and outside the court and/or may appoint other members of the Board of Directors,
employees, or other parties to represent the Company both inside and outside the court.
11. In carrying out its duties and authorities, the Director of Exploration and Development has the authority to correspond
with relevant external parties.
PT Pertamina Geothermal Energy Tbk
Page 336
334 Laporan Tahunan 2025 | 2025 Annual Report
Jabatan Bidang Tugas dan Tanggung Jawab
Position Areas of Duties and Responsibilities
Direktur Operasi 1. Mengarahkan dan mengevaluasi segenap kegiatan yang berkaitan dengan operasi produksi.
Director of Operations 2. Merencanakan dan mengevaluasi keandalan sarana serta fasilitas operasi dan fasilitas pendukung.
3. Mengembangkan standar engineering untuk segenap kegiatan operasi di area.
4. Merencanakan, mengarahkan dan mengevaluasi segenap kegiatan yang berkaitan dengan pengendalian kinerja
pemboran sumur make-up, utilisasi dan pengoperasian power plant.
5. Memimpin dan mengendalikan seluruh kegiatan utilisasi dan pembangkitan.
6. Mengarahkan dan mengevaluasi kegiatan kemitraan bisnis.
7. Mengendalikan segenap kinerja kegiatan kemitraan bisnis operasional dalam aspek finansial dan non-finansial.
8. Menetapkan mekanisme pengendalian segenap risiko operasional dan mengawasi status penanganan.
9. Melaporkan secara berkala segenap kemajuan kegiatan kepada Direktur Utama.
10. Bersama-sama dengan Direktorat lain melakukan sinergi, kerjasama yang kuat dan saling mendukung dalam
aktivitas bisnis dan operasional Perseroan sehari-hari.
11. Dalam menjalankan tugas dan wewenangnya, Direktur Operasi berwenang mewakili Perseroan di dalam maupun di
luar pengadilan dan/atau dapat menunjuk anggota Direksi lain, pekerja atau pihak lain untuk mewakili Perseroan di
dalam dan di luar pengadilan.
12. Dalam menjalankan tugas dan wewenangnya, Direktur Operasi berwenang melakukan korespondensi dengan pihak
eksternal yang terkait.
1. Direct and evaluate all activities related to production operations.
2. Plan and evaluate the reliability of operational facilities and supporting facilities.
3. Develop engineering standards for all operational activities in the area.
4. Plan, direct, and evaluate all activities related to monitoring the performance of make-up well drilling, utilization, and
power plant operation.
5. Lead and control all utilization and generation activities.
6. Direct and evaluate business partnership activities.
7. Control the performance of all operational business partnership activities, both financially and non-financially.
8. Establish control mechanisms for all operational risks and monitor their handling status.
9. Report regularly on the progress of all activities to the President Director.
10. Collaborate with other Directorates to establish synergy, strong collaboration, and mutual support in the Company's
daily business and operational activities.
11. In carrying out his duties and authorities, the Director of Operations is authorized to represent the Company both
inside and outside the court and/or may appoint other members of the Board of Directors, employees, or other
parties to represent the Company both inside and outside the court.
12. In carrying out his duties and authorities, the Director of Operations is authorized to correspond with relevant external
parties.
Direktur Keuangan 1. Merencanakan, mengelola dan mengontrol keuangan Perseroan agar berfungsi maksimal dalam mendukung
Director of Finance aktivitas bisnis dan operasional Perseroan yang berlandaskan pada prinsip pengelolaan keuangan yang berbasis
pada risk management.
2. Berkoordinasi dengan Direktorat Keuangan PT Pertamina (Persero) dalam hal penerimaan dan pengeluaran
keuangan serta investasi Perseroan.
3. Melaporkan secara berkala status pengendalian keuangan Perseroan kepada Direktur Utama.
4. Bersama-sama dengan Direktorat lain melakukan sinergi, kerjasama yang kuat dan saling mendukung dalam
aktivitas bisnis dan operasional Perseroan sehari-hari.
5. Dalam menjalankan tugas dan wewenangnya, Direktur Keuangan berwenang mewakili Perseroan di dalam maupun
di luar pengadilan dan/atau dapat menunjuk anggota Direksi lain, pekerja atau pihak lain untuk mewakili Perseroan
di dalam dan di luar pengadilan.
6. Dalam menjalankan tugas dan wewenangnya, Direktur Keuangan berwenang melakukan korespondensi dengan
pihak eksternal yang terkait.
1. Plan, manage, and control the Company's finances to ensure optimal performance in supporting the Company's
business and operational activities, based on financial management principles on a risk management basis.
2. Coordinate with the Finance Directorate of PT Pertamina (Persero) regarding the Company's financial receipts,
expenditures, and investments.
3. Report periodically to the President Director on the Company's financial control status.
4. Work with other Directorates to establish synergy, strong cooperation, and mutual support in the Company's daily
business and operational activities.
5. In carrying out his/her duties and authorities, the Finance Director has the authority to represent the Company both
inside and outside the court and/or may appoint other members of the Board of Directors, employees, or other
parties to represent the Company both inside and outside the court.
6. In carrying out his/her duties and authorities, the Finance Director has the authority to correspond with relevant
external parties.
PT Pertamina Geothermal Energy Tbk
Page 337
Laporan Tahunan 2025 | 2025 Annual Report 335
PELAKSANAAN TUGAS DIREKSI 2025 IMPLEMENTATION OF THE BOARD OF
DIRECTORS’ DUTIES IN 2025
Selama tahun 2025, Direksi telah melaksanakan tugas dan Throughout 2025, the Board of Directors carried out its duties and
tanggung jawab sesuai dengan Anggaran Dasar, Rencana Kerja responsibilities in accordance with the Articles of Association,
dan Board Manual. Work Plan, and Board Manual.
Kebijakan atau Keputusan Direksi yang bersifat strategis Strategic policies or resolutions of the Board of Directors were
dikeluarkan dalam bentuk Surat Keputusan Direksi atau Surat issued in the form Board of Directors Decrees or Board of
Perintah Direksi sebagai bagian dari pelaksanaan tugas Directors Orders as part of the implementation of its duties.
Direksi. Selama tahun 2025, keputusan dan instruksi yang telah Throughout 2025, the Board of Directors issued several decisions
dikeluarkan oleh Direksi antara lain sebagai berikut: and directives, including the following:
Keputusan Direksi The Board of Directors’ Decrees
1. Program retensi dan loyalitas pekerja 1. Employee Retention and Loyalty Program
2. Struktur Organisasi Proyek Keputusan dan perintah direksi, 2. Project Organizational Structure Decrees and Orders of the
Board of Directors
3. Pelimpahan Wewenang dan Tanggung Jawab Direktsi 3. Delegation of Authority and Responsibility
4. Pengangkatan Komite Managemen Resiko 4. Appointment of the Risk Management Committee
5. Purna Karya Pekerja 5. Employee Retirement
6. Tim Kejra Bersama Pengembangan Energi Panas Bumi 6. Joint Geothermal Energy Development Team
7. Tata Kelola dan Sistem Kerja Proyek 7. Project Governance and Work Systems
8. Pemetaan matriks Tanggung Jawab 8. Responsibility Matrix Mapping
9. Pengangkatan pekerja 9. Employee Appointment
Surat Perintah Direksi telah diberikan kepada: The Board of Directors’ Orders have been issued to:
1. Tim Satuan Tugas Masa Transisi Reorganisasi Perusahaan 1. Company Reorganization Transitional Task Force Team
2. Tim Auditor Internal Geothermal Integrated Management 2. Geothermal Integrated Management System Internal Audit
System Team
3. Pengurus Lembaga Kerja Sama (LKS) Bipartit 3. Bipartite Cooperation Institution (LKS) Management
4. Tim Ekspansi Pengembangan Bisnis Anorganik 4. Inorganic Business Development Expansion Team
5. Tim Task Force Cost Oprimization 5. Cost Optimization Task Force Team
6. Tim Penerapan management risiko Korporat dan Proyek 6. Corporate and Project Risk Management Implementation
Team
7. Tim Persiapan RUPS Tahunan 7. Annual GMS Preparation Team
8. Tim Implementasi Program Digitalisasi Perusahaan 8. Company Digitalization Program Implementation Team
9. Tim Kegiatan Steam Blow, Pre Commisioning & Commisioning 9. Lumut Balai Unit 2 EPCC Project Steam Blowing, Pre-
Proyek EPCC Lumut Balai Unit 2 Commissioning, and Commissioning Team
10. Tim Pelaksanaan Kegiatan Inovasi Perusahan 10. Company Innovation Activity Implementation Team
11. Tim Performance Management System 11. Performance Management System Team
12. Tim Pelaksana Proyek Seulawah Agam 12. Seulawah Agam Project Implementation Team
13. Tim pengelola Pedoman dan Sistem Tata Kerja (STK) 13. Company Guidelines and Work Procedures (STK)
Perusahaan Management Team
14. Tugas Belajar Pekerja 14. Employee Learning Tasks
15. Tim Pelaksana Proyek Kotamobagu 15. Kotamobagu Project Implementation Team
16. Tim Penyusunan Laporan Tahunan dan Laporan Keberlanjutan 16. Company Annual Report and Sustainability Report
Perusahaan Preparation Team
17. Tim Badan Pembina Olahraga Perusahaan 17. Company Sports Advisory Board Team
Perjalanan Dinas Business Trip
Pada tahun 2025, Direksi melakukan perjalanan dinas sebagai In 2025, the Board of Directors undertook Business Trip as part of
rangkaian pelaksanaan tugas Direksi dalam mendukung its duties to support the management of the Company.
pengelolaan Perseroan.
PT Pertamina Geothermal Energy Tbk
Page 338
336 Laporan Tahunan 2025 | 2025 Annual Report
Perjalanan Dinas Direksi tahun 2025
Board of Directors Official Travel in 2025
Periode Kota Perihal
Period City Subject
Januari Abu Dhabi Abu Dhabi Sustainability Week 2025
January
United States Project Management Integration
Maret Garut Safari Ramadhan Direksi Holding & SH PNRE ke AG Kamojang
March Safari Ramadhan of Board of Directors of Holding & SH PNRE to AG Kamojang
Lampung Safari Ramadhan Direksi SH PNRE ke AG Ulubelu
Safari Ramadhan of Board of Directors of SH PNRE to AG Ulubelu
Manado Safari Ramadhan Direksi SH PNRE ke AG Lahendong
Safari Ramadhan of Board of Directors of SH PNRE to AG Lahendong
April Turkiye Indonesia-Turkiye Business Roundtable
Juni Banyuwangi Peresmian PLTP Blawan Ijen
June Inauguration of the Blawan Ijen Geothermal Power Plant
Juli Palembang COD PLTP Lumut Balai Unit 2
July
Kunjungan Kerja Komisi XII DPR RI ke Manado
Manado
Working Visit of Commission XII of the Indonesian House of Representatives to Manado
Audiensi dengan Gubernur Bengkulu
Bengkulu
Audience with the Governor of Bengkulu
Site Visit PID ke AG Ulubelu
Lampung
PID Site Visit to AG Ulubelu
Agustus Kunjungan Kerja Komisi XII DPR RI
Labuan Bajo
August Working Visit of Commission XII of the Indonesian House of Representatives to Manado
Singapore Meeting Potential Partner bersama SH PNRE-Danantara
Potential Partner Meeting with SH PNRE-Danantara
Bandung BOD Retreat 2025 PGE
September Lampung Groundbreaking Green Hydrogen
Palembang Kunjungan Kerja Komisi XII DPR RI ke Provinsi Sumatera Selatan
Working Visit of Commission XII of the Indonesian House of Representatives to South Sumatra
Province
Singapore Asia New Vision Forum 2025
Garut - Tasikmalaya Kunjungan Kerja Spesifik Komisi XII DPR RI Ke PLTP Geothermal Kamojang dan MWT AG
Karaha
Specific Working Visit of Commission XII of the Indonesian House of Representatives to the
Kamojang Geothermal Power Plant and the Karaha AG MWT
Oktober China High Level Meeting & Closing Ceremony Training O&M
October
Banda Aceh Signing Amandemen dan RUPS PT GES
Signing of Amendments and GMS of PT GES
November Jepang | Japan Agenda Annual Meeting Kerja Sama Pertamina dan Toyota 2025
Agenda for the 2025 Pertamina and Toyota Collaboration Annual Meeting
Banda Aceh Audiensi Gubernur Aceh
Audience with the Governor of Aceh
Yogyakarta Serah Terima Proyek LMB 2, TRM Dit. Operasi dan Gowes LMB
Handover of the LMB 2 Project, TRM Operations Directorate, and Gowes LMB
Palembang Kunjungan Kerja Komisi XII DPR RI ke PLTP Lumut Balai
Working Visit of Commission XII of the Indonesian House of Representatives to the Lumut Balai
Geothermal Power Plant
Surabaya Annual Reservoir Meeting Tahun 2025 PGE
PGE Annual Reservoir Meeting 2025
Manado Undangan Narasumber Launching Ekspedisi Panas Bumi Nusantara – DEM
Invited Speaker for the Launch of the Nusantara Geothermal Expedition - DEM
Magelang BOC BOD Retret Pertamina Tahun 2025
Pertamina’s BOC BOD Retreat 2025
PT Pertamina Geothermal Energy Tbk
Page 339
Laporan Tahunan 2025 | 2025 Annual Report 337
Periode Kota Perihal
Period City Subject
Desember Labuan Bajo Rapat Koordinasi Direktorat Eksplorasi & Pengembangan
December Coordination Meeting of the Exploration & Development Directorate
Aceh Acara Donasi Korban Bencana Alam di Sumatera
Donation Event for Natural Disaster Victims in Sumatra
Garut Management Walkthrough ke AG Karaha
Management Walkthrough to AG Karaha
Manado Rapat Klarifikasi dan Negosiasi Dokumen Penawaran Pengadaan Pembelian Tenaga Listrik dari
PLTP Bumi Sumatera tersebar di Ulubelu Binary dan PLTP Sulbagut tersebar di Lahendong Binary
Meeting for Clarification and Negotiation of Bid Documents for the Procurement of Electricity
from the Bumi Sumatera Geothermal Power Plant spread across Ulubelu Binary and the
Sulbagut Geothermal Power Plant spread across Lahendong Binary
Kamojang Focus Group Discussion Transisi Proyek Karbon Kredit PGE
Focus Group Discussion on the Transition of the PGE Carbon Credit Project
PT Pertamina Geothermal Energy Tbk
Page 340
338 Laporan Tahunan 2025 | 2025 Annual Report
RAPAT DIREKSI BOARD OF DIRECTORS MEETINGS
Kebijakan Rapat Meeting Policy
Rapat Direksi wajib dilaksanakan secara berkala paling kurang Board of Directors meetings must be held periodically, at least
1 (satu) kali dalam sebulan, dan rapat bersama Dewan Komisaris once a month, and joint meetings with the Board of Commissioners
paling sedikit 1 (satu) kali dalam 4 (empat) bulan. at least once every 4 (four) months.
Rapat Direksi dapat diselenggarakan setiap waktu apabila Board of Directors meetings may be held at any time deemed
dianggap perlu oleh 1 (satu) atau lebih anggota Direksi, atas necessary by one or more members of the Board of Directors,
permintaan tertulis dari 1 (satu) atau lebih anggota Dewan upon written request from one or more members of the Board
Komisaris serta atas permintaan tertulis dari pemegang saham of Commissioners, or upon written request from the majority
mayoritas dengan menyebutkan hal-hal yang akan dibicarakan. shareholder, specifying the matters to be discussed. The agenda
Agenda rapat Direksi merupakan hal-hal strategis, operasional for Board of Directors meetings includes strategic, operational, or
atau yang bersifat wacana. discursive matters.
Pemanggilan rapat Direksi disampaikan secara tertulis kepada Summons for Board of Directors meetings shall be submitted in
setiap anggota Direksi dalam jangka waktu paling lambat 3 (tiga) writing to each member of the Board of Directors no later than
hari sebelum diselenggarakan rapat. Rapat Direksi diadakan di 3 (three) days prior to the meeting. Board of Directors meetings
tempat kedudukan Perseroan atau di tempat kegiatan usaha shall be held at the Company’s domicile or at the Company’s
Perseroan, atau di tempat lain di wilayah Republik Indonesia place of business, or at another location within the Republic of
yang ditetapkan oleh Direksi. Indonesia as determined by the Board of Directors.
Rapat Direksi dapat dilakukan secara non fisik (virtual) dengan Board of Directors meetings may be held virtually using conference
menggunakan sarana telepon konferensi atau sistem komunikasi calls or other communication systems. This form of participation is
lain. Bentuk partisipasi tersebut dianggap kehadiran secara considered in-person attendance at the meeting.
langsung dalam rapat.
Rapat Direksi sah dan berhak mengambil keputusan yang mengikat A Board of Directors meeting is valid and entitled to make binding
apabila dihadiri oleh lebih dari setengah atau ½ (satu per dua) decisions if attended by more than half, or ½ (one-half), of the total
jumlah anggota Direksi atau wakilnya yang sah. Dalam mata number of members of the Board of Directors or their authorized
acara lain-lain, rapat Direksi tidak berhak mengambil keputusan representatives. For other agenda items, a Board of Directors
kecuali semua anggota Direksi atau wakilnya yang sah hadir meeting is not entitled to make decisions unless all members of the
dan menyetujui penambahan mata acara rapat. Keputusan rapat Board of Directors or their authorized representatives are present
Direksi diambil secara musyawarah untuk mufakat, keputusan and agree to the addition of the meeting agenda item. Decisions
diambil berdasarkan suara terbanyak apabila pengambilan at Board of Directors meetings are made by deliberation to reach
keputusan secara mufakat tidak dapat dilaksanakan. consensus. Decisions are made by majority vote if consensus
cannot be reached.
Pelaksanaan Rapat Direksi Implementation of Board of Directors
Meetings
Selama tahun 2025, Direksi telah menyelenggarakan rapat In 2025, the Board of Directors held 55 meetings, with the
sebanyak 55 kali dengan rincian sebagai berikut: following details:
Frekuensi Tingkat Kehadiran Direksi
Frequency of Board of Directors Attendance Level
Rapat Gabungan
Rapat Direksi RUPS
BOD Meeting
Direksi – Komisaris GMS
Joint Meeting of BOD-BOC
Nama Jabatan
Name Position Jumlah Jumlah Jumlah
Rapat Kehadiran Rapat Kehadiran RUPS Kehadiran
% % %
Number of Attendance Number of Attendance Number of Attendance
Meeting Meeting GMS
Direktur
Utama
Julfi Hadi*) 55 51 93% 12 11 92% 2 2 100%
President
Director
PT Pertamina Geothermal Energy Tbk
Page 341
Laporan Tahunan 2025 | 2025 Annual Report 339
Rapat Gabungan
Rapat Direksi RUPS
BOD Meeting
Direksi – Komisaris GMS
Joint Meeting of BOD-BOC
Nama Jabatan
Name Position Jumlah Jumlah Jumlah
Rapat Kehadiran Rapat Kehadiran RUPS Kehadiran
% % %
Number of Attendance Number of Attendance Number of Attendance
Meeting Meeting GMS
Direktur
Edwil Suzandi 55 55 100% 12 12 100% 2 2 100%
Director
Direktur
Ahmad Yani 55 49 89% 12 12 100% 2 2 100%
Director
Direktur
Yurizki Rio 55 54 98% 12 12 100% 2 2 100%
Director
*) Efektif mengundurkan diri per tanggal 20 Januari 2026 | Resigned effective 20 January 2026
Agenda Rapat Direksi Board of Directors Meeting Agenda
Nomor Risalah Rapat Tanggal
No. Agenda
Meeting Minutes Number Date
1 RRD-001/PGE000/2025-S0 6 Januari 2025 Pembahasan status Usulan Investasi proyek Lumut Balai Unit 3 dari tahap Eksplorasi
6 January 2025 menjadi tahap Pengembangan
Discussion on the status of the Lumut Balai Unit 3 Project Investment Proposal from the
Exploration to Development stage
2 RRD-002/PGE000/2025-S0 6 Januari 2025 Laporan Pengembangan Proyek Seulawah Agam
6 January 2025
Seulawah Agam Project Development Report
3 RRD-003/PGE000/2025-S0 14 Januari 2025 Laporan Investigasi HSSE (Health, Safety, Security & Environment) pada kegiatan Turn
14 January 2025 Around PLTP Unit I Area Karaha
HSSE (Health, Safety, Security & Environment) Investigation Report on the Turnaround of
the Karaha Area Unit I Geothermal Power Plant
4 RRD-004/PGE000/2025-S0 20 Januari 2025 Persetujuan Direksi Sirkuler Implementasi Management and Employee Stock Option Plan
20 January 2025 (MESOP) PT PGE Tbk Tahun 2025
Board of Directors' Approval of the 2025 Management and Employee Stock Option Plan
(MESOP) Implementation Circular for
PT PGE Tbk
5 RRD-005/PGE000/2025-S0 21 Januari 2025 Amandemen Kontrak kontraktor Proyek Lumut Balai Unit 2
21 January 2025
Amendment to the Lumut Balai Unit 2 Project Contractor Contract
6 RRD-006/PGE000/2025-S0 21 Januari 2025 Review dan Penataan Ulang Susunan Direksi dan Dewan Komisaris Anak Perusahaan/
21 January 2025 Perusahaan Afiliasi Perseroan
Review and Restructuring of the Board of Directors and Board of Commissioners of the
Company's Subsidiaries/Affiliated Companies
7 RRD-008/PGE000/2025-S0 3 Februari 2025 Pembahasan Top Corporate Risks pada Rapat Komite Manajemen Risiko (RKMR)
3 February 2025
Discussion of Top Corporate Risks at the Risk Management Committee (RKMR) Meeting
8 RRD-009/PGE000/2025-S0 19 Februari 2025 Persetujuan Pelaksanaan rencana aksi korporasi Perseroan
19 February 2025
Approval of the Company's Corporate Action Plan Implementation
9 RRD-010/PGE000/2025-S0 03 Maret 2025 Penetapan Program retensi pekerja Perseroan
3 March 2025
Determination of the Company's Employee Retention Program
10 RRD-011/PGE000/2025-S0 04 Maret 2025 Penetapan Tarif Royalti, Jasa Pemasaran, Technical Advisory, serta Jasa Laboratorium
4 March 2025 untuk Komersialisasi Produk Non-Konvensional
Determination of Royalty Rates, Marketing Services, Technical Advisory, and Laboratory
Services for the Commercialization of Non-Conventional Products
11 RRD-012/PGE000/2025-S0 20 Maret 2025 Pembahasan Tanggal Operasi Komersial (TOK) pembangkit
20 March 2025
Discussion of the Power Plant's Commercial Operation Date (TOK)
PT Pertamina Geothermal Energy Tbk
Page 342
340 Laporan Tahunan 2025 | 2025 Annual Report
Nomor Risalah Rapat Tanggal
No. Agenda
Meeting Minutes Number Date
12 RRD-013/PGE000/2025-S0 20 Maret 2025 Pengusulan Key Performance Indicator (KPI) Direktur Utama Pasca Challenge Session
20 March 2025 dengan Pemegang Saham (Pertamina NRE)
Proposal of Key Performance Indicators (KPIs) for the President Director Post-Challenge
Session with Shareholders (Pertamina NRE)
13 RRD-014/PGE000/2025-S0 26 Maret 2025 Pembaruan Progres Proyek Ekspansi Bisnis
26 March 2025
Update on Business Expansion Project Progress
14 RRD-015/PGE000/2025-S0 22 April 2025 Pembaruan Rencana Pelaksanaan Pre-Bid Meeting serta Penyampaian Proposal ekspansi
bisnis.
Update on the Pre-Bid Meeting Implementation Plan and Submission of Business
Expansion Proposals.
15 RRD-016/PGE000/2025-S0 22 April 2025 Pembahasan Tindak Lanjut Market Sounding WKP
Discussion of Market Sounding Follow-Up for the WKP
16 RRD-16A/PGE000/2025-S0 28 April 2025 Pembahasan dan Tindak Lanjut Eksplorasi WKP Kotamobagu
Discussion and Follow-Up for the Kotamobagu WKP Exploration
17 RRD-017/PGE000/2025-S0 29 April 2025 RUPS Tahunan Tahun Buku 2024 - Penetapan Penggunaan Laba Bersih Perseroan
Annual GMS for Fiscal Year 2024 - Determination of the Use of the Company's Net Profit
18 RRD-018/PGE000/2025-S0 29 April 2025 Laporan Mata Acara RUPS Tahunan Tahun Buku 2024
Report on the Agenda of the Annual GMS for Fiscal Year 2024
19 RRD-019/PGE000/2025-S0 29 April 2025 Persetujuan Direksi Sirkuler atas RKMR dan Monitoring Risiko Korporasi Triwulan I 2025
Approval of the Circular Board of Directors' Resolution on the Company's Work Plan and
Corporate Risk Monitoring for the First Quarter of 2025
20 RRD-020/PGE000/2025-S0 14 Mei 2025 Persetujuan Nilai Wajar Saham PGEO
14 May 2025
Approval of the Fair Value of PGEO Shares
21 RRD-021/PGE000/2025-S0 20 Mei 2025 Persetujuan Direksi Sirkuler - Sistem Tata Kerja Proyek Gunung Tiga dan Hululais
20 May 2025
Approval of the Circular Resolution of the Board of Directors' - Gunung Tiga and Hululais
Project Work System
22 RRD-022/PGE000/2025-S0 23 Mei 2025 Penetapan Program retensi pekerja Perseroan
23 May 2025
Determination of the Company's Employee Retention Program
23 RRD-023/PGE000/2025-S0 28 Mei 2025 Pembahasan dan Penetapan Tarif Perjalanan Dinas Luar Negeri Berdasarkan Durasi
28 May 2025 Tertentu
Discussion and Determination of Overseas Offcial Travel Rates Based on a Specific
Duration
24 RRD-024/PGE000/2025-S0 28 Mei 2025 Persetujuan Penandatanganan Joint Study Agreement (JSA) Geothermal Energy Potential
28 May 2025 dan Production Enhancement
Approval of the Signing of the Joint Study Agreement (JSA) for Geothermal Energy
Potential and Production Enhancement
25 RRD-025/PGE000/2025-S0 17 Juni 2025 Telaah Peluang Efisiensi Biaya Penurunan Harga Satuan Kontrak Geothermal Drilling
17 June 2025
Review of Cost Efficiency Opportunities for Reducing Geothermal Drilling Contract Unit
Prices
26 RRD-026/PGE000/2025-S0 17 Juni 2025 WKP Lelang dan Peluang Penugasan Survei Pendahuluan dan Eksplorasi (PSPE)
17 June 2025
Work Area (WKP) Tender and Opportunities for Preliminary and Exploration Survey
(PSPE) Assignments
27 RRD-027/PGE000/2025-S0 19 Juni 2025 Persetujuan Direksi Sirkuler - Persetujuan Skema Pendanaan/Pembiayaan Exercise
19 June 2025 Program Management and Employee Stock Option Plan (MESOP)
Board of Directors Circular Approval - Approval of the Funding Scheme for the Program
Management and Employee Stock Option Plan (MESOP) Exercise
28 RRD-028/PGE000/2025-S0 30 Juni 2025 Usulan Anggaran Pengurusan Perubahan Status Kawasan Hutan Konservasi menjadi
30 June 2025 Taman Wisata Alam
Budget Proposal for the Management of the Change of Status from a Conservation Forest
Area to a Nature Tourism Park
PT Pertamina Geothermal Energy Tbk
Page 343
Laporan Tahunan 2025 | 2025 Annual Report 341
Nomor Risalah Rapat Tanggal
No. Agenda
Meeting Minutes Number Date
29 RRD-029/PGE000/2025-S0 7 Juli 2025 Program retensi pekerja Perseroan
7 July 2025
Company Employee Retention Program
30 RRD-030/PGE000/2025-S0 24 Juli 2025 Pembaruan Ketentuan Utama (Key Terms) dan Kajian Ekonomi Internal Proyek ekspansi
24 July 2025 bisnis
Update on Key Terms and Internal Economic Review for the Business Expansion Project
31 RRD-031/PGE000/2025-S0 28 Juli 2025 Pembahasan Persetujuan Pemberian Fasilitas Sewa Kendaraan Alokasi Jabatan
28 July 2025
Discussion on Approval of Vehicle Rental Facilities and Position Allocation
32 RRD-032/PGE000/2025-S0 1 Agustus 2025 Persetujuan Direksi secara Sirkuler atas Hasil Rapat Komite Manajemen Risiko Triwulan II
1 August 2025 Tahun 2025
Board of Directors Circular Approval of the Results of the Risk Management Committee
Meeting for the Second Quarter of 2025
33 RRD-033/PGE000/2025-S0 11 Agustus 2025 Persetujuan Direksi Sirkuler - Persetujuan Sisa Alokasi Program Management and
11 August 2025 Employee Stock Option Plan (MESOP) Tahap 1
Board of Directors Circular Approval - Approval of the Remaining Allocation for the
Program Management and Employee Stock Option Plan (MESOP) Phase 1
34 RRD-034/PGE000/2025-S0 19 Agustus 2025 Program retensi pekerja Perseroan
19 August 2025
Company Employee Retention Program
35 RRD-035/PGE000/2025-S0 22 Agustus 2025 Pembaruan Hasil Review Joint Study Agreement (JSA) Proyek ekspansi bisnis
22 August 2025
Update on the Joint Study Agreement (JSA) Review Results for the Business Expansion
Project
36 RRD-036/PGE000/2025-S0 26 Agustus 2025 Pengaturan Hak Opsi Management and Employee Stock Option Plan (MESOP) Tahap I
26 August 2025
Management and Employee Stock Option Plan (MESOP) Rights Arrangements Phase I
37 RRD-037/PGE000/2025-S0 15 September 2025 Tanggapan atas Memorandum of Understanding (MoU) dan Head of Agreement (HoA)
antara Pertamina dan PLN
Response to the Memorandum of Understanding (MoU) and Heads of Agreement (HoA)
between Pertamina and PLN
38 RRD-038/PGE000/2025-S0 15 September 2025 Request for Proposal (RFP) Proyek Ulubelu Binary Unit dan Lahendong Binary Unit
Request for Proposal (RFP) for the Ulubelu Binary Unit and Lahendong Binary Unit Projects
39 RRD-039/PGE000/2025-S0 24 September 2025 Hasil Review Usulan Investasi Proyek Pengembangan Lumut Balai Unit 3
Results of the Investment Proposal Review for the Lumut Balai Unit 3 Development Project
40 RRD-040/PGE000/2025-S0 7 Oktober 2025 Skema Optimasi Pencapaian Target Produksi dan Pendapatan PLTP Kamojang dan
7 October 2025 Lahendong Tahun 2026
Optimization Scheme for Achieving Production and Revenue Targets for the Kamojang
and Lahendong Geothermal Power Plants in 2026
41 RRD-041/PGE000/2025-S0 7 Oktober 2025 Evaluasi dan Penyesuaian Upah Tenaga Alih Daya (TAD)
7 October 2025
Evaluation and Adjustment of Outsourced Worker Wages (TAD)
42 RRD-042/PGE000/2025-S0 7 Oktober 2025 Evaluasi dan Penyesuaian Susunan Pengurus BOC–BOD Anak Perusahaan Perseroan
7 October 2025
Evaluation and Adjustment of the BOC-BOD of the Company's Subsidiaries
43 RRD-043/PGE000/2025-S0 13 Oktober 2025 Persetujuan Amandemen Perjanjian Pemegang Saham PT Geothermal Energi Seulawah
13 October 2025
Approval of Amendments to the Shareholder Agreement of PT Geothermal Energi
Seulawah
44 RRD-044/PGE000/2025-S0 16 Oktober 2025 Progress Update dan Tindak Lanjut Proyek Ekspansi Bisnis
16 October 2025
Progress Update and Follow-up on Business Expansion Projects
45 RRD-045/PGE000/2025-S0 16 Oktober 2025 Pembaruan Progres PSPE Cubadak Panti, Mekanisme PSPE Internal PGE, dan Lelang
16 October 2025 WKP Baru
Cubadak Panti Geothermal Project Progress Update, PGE's Internal Geothermal Project
Mechanism, and New Working Area Tender
PT Pertamina Geothermal Energy Tbk
Page 344
342 Laporan Tahunan 2025 | 2025 Annual Report
Nomor Risalah Rapat Tanggal
No. Agenda
Meeting Minutes Number Date
46 RRD-046/PGE000/2025-S0 16 Oktober 2025 Persetujuan Direksi Sirkuler - Partisipasi PGE dalam PSPE Panas Bumi Cubadak Panti
16 October 2025
Board of Directors Circular Approval - PGE's Participation in the Cubadak Panti
Geothermal Project
47 RRD-047/PGE000/2025-S0 24 Oktober 2025 Persetujuan Pemasukan Penawaran Penugasan Survei Pendahuluan dan Eksplorasi (PSPE)
24 October 2025 Panas Bumi Cubadak Panti
Approval of Submission of Bid for the Cubadak Panti Geothermal Preliminary Survey and
Exploration (PSPE)
48 RRD-048/PGE000/2025-S0 27 Oktober 2025 Program retensi pekerja Perseroan
27 October 2025 The Company's Employee Retention
Program
49 RRD-049/PGE000/2025-S0 6 November 2025 Rencana Penyampaian Dokumen Lelang WKP
Submission Plan of Geothermal Project Bid Documents
50 RRD-050/PGE000/2025-S0 24 November 2025 Program retensi pekerja Perseroan Tahun 2025
The Company's Employee Retention Program for 2025
51 RRD-051/PGE000/2025-S0 28 November 2025 Pembahasan Ketentuan dan Tarif Honorarium di Lingkungan PT PGE Tbk
Discussion of Honorarium Terms and Rates within PT PGE Tbk
52 RRD-052/PGE000/2025-S0 2 Desember 2025 Program retensi pekerja Perseroan Tahun 2025
2 December 2025
The Company's Employee Retention Program for 2025
53 RRD-053/PGE000/2025-S0 19 Desember 2025 Pembahasan dan Persetujuan atas Kepemilikan 1% Saham di PT PHE Jambi Merang
19 December 2025
Discussion and Approval of 1% Share Ownership in PT PHE Jambi Merang
54 RRD-054/PGE000/2025-S0 19 Desember 2025 Persetujuan Penandatanganan Berita Acara Kesepakatan Harga/Tarif Proyek PLTP
19 December 2025 Ulubelu Binary Unit 30 MW
Approval of Signing of the Minutes of the Price/Tariff Agreement for the 30 MW Ulubelu
Binary Unit Geothermal Power Plant Project
55 RRD-055/PGE000/2025-S0 19 Desember 2025 Sustainability Committee Meeting (ESG)
19 December 2025
Pelaksanaan Rapat Gabungan Dewan Joint Meetings of the Board of
Komisaris dan Direksi Commissioners and the Board of
Directors
Selama tahun 2025, Rapat Gabungan Dewan Komisaris dan In 2025, 12 times Meetings of the Board of Commissioners and
Direksi telah dilaksanakan sebanyak 12 kali. Agenda, frekuensi the Board of Directors were held. The agenda and frequency of
tingkat kehadiran anggota Direksi dalam Rapat Gabungan attendance level of members of the Board of Directors at Joint
dijelaskan pada bagian Dewan Komisaris. Meetings are explained in the Board of Commissioners section.
Rencana Rapat Tahun Berikutnya Meeting Plan for the Following Year
(Tahun 2026) (2026)
Direksi dibantu oleh Sekretaris Perusahaan menyusun jadwal The Board of Directors, assisted by the Corporate Secretary, will
rapat Direksi yang terjadwal untuk tahun 2026, yakni sebagai prepare the schedule of Board of Directors meetings for 2026,
berikut: as follows:
PT Pertamina Geothermal Energy Tbk
Page 345
Laporan Tahunan 2025 | 2025 Annual Report 343
Periode Agenda Rapat
Period Meeting Agenda
Januari • Evaluasi Kinerja Perseroan Bulan Desember 2025
January • Laporan Perkembangan Green Book Tahun 2026
• Usulan Revisi Rencana Jangka Panjang Perusahaan (RJPP)
• Pembahasan Hasil Review Usulan Investasi Business Development
• Company Performance Evaluation for December 2025
• 2026 Green Book Progress Report
• Proposal for Revision of the Company's Long-Term Plan (RJPP)
• Discussion of the Results of the Business Development Investment Proposal Review
Februari • Evaluasi Kinerja Perseroan Bulan Januari 2026
February • Pembahasan Peningkatan Free Float Saham PGEO menjadi 15%
• Pembahasan Top Corporate Risks pada Rapat Komite Manajemen Risiko (RKMR)
• Company Performance Evaluation for January 2026
• Discussion on Increasing PGEO's Free Float Shares to 15%
• Discussion on Top Corporate Risks at the Risk Management Committee (RKMR) Meeting
Maret • Evaluasi Kinerja Perseroan Bulan Februari 2026
March • Laporan Perkembangan Proyek Pengembangan Panas Bumi
• Evaluasi dan Penetapan Program retensi pekerja Perseroan
• Pengusulan Key Performance Indicator (KPI)
• Company Performance Evaluation for February 2026
• Geothermal Development Project Progress Report
• Evaluation and Determination of the Company's Employee Retention Program
• Proposal for Key Performance Indicators (KPIs)
April • Evaluasi Kinerja Perseroan Bulan Maret 2026
• Monitoring Risiko Korporasi Triwulan I 2026
• Pembahasan Hasil Review Usulan Investasi Business Development
• Company Performance Evaluation for March 2026
• Corporate Risk Monitoring for the First Quarter of 2026
• Discussion of the Results of the Business Development Investment Proposal Review
Mei • Evaluasi Kinerja Perseroan Bulan April 2026
May • Evaluasi dan Penetapan Program retensi pekerja Perseroan
• Penyampaian hasil evaluasi visi dan misi Perseroan
• Company Performance Evaluation for April 2026
• Evaluation and Determination of the Company's Employee Retention Program
• Submission of the results of the Company's vision and mission evaluation
Juni • Evaluasi Kinerja Perseroan Bulan Mei 2026
June • BOD Meeting Pembahasan Penggunaan Dana IPO
• Laporan Perkembangan Proyek Pengembangan Panas Bumi
• Pemaparan Usulan Rencana Kerja dan Anggaran Perusahaan (RKAP) Tahun 2027
• Company Performance Evaluation for May 2026
• Board of Directors Meeting to Discuss Use of IPO Proceeds
• Geothermal Development Project Progress Report
• Presentation of the Proposal for 2027 Company Work Plan and Budget (RKAP)
Juli • Evaluasi Kinerja Perseroan Bulan Juni 2026
July • Monitoring Risiko Korporasi Triwulan II 2026
• Pembahasan Hasil Review Usulan Investasi Business Development
• Company Performance Evaluation for June 2026
• Corporate Risk Monitoring for Q2 2026
• Discussion of the Results of the Business Development Investment Proposal Review
Agustus • Evaluasi Kinerja Perseroan Bulan Juli 2026
August • Laporan Perkembangan Proyek Pengembangan Panas Bumi
• Company Performance Evaluation for July 2026
• Geothermal Development Project Progress Report
September • Evaluasi Kinerja Perseroan Bulan Agustus 2026
• Laporan Perkembangan Proyek Pengembangan Panas Bumi
• Company Performance Evaluation for August 2026
• Geothermal Development Project Progress Report
PT Pertamina Geothermal Energy Tbk
Page 346
344 Laporan Tahunan 2025 | 2025 Annual Report
Periode Agenda Rapat
Period Meeting Agenda
Oktober • Evaluasi Kinerja Perseroan Bulan September 2026
October • Monitoring Risiko Korporasi Triwulan III 2026
• Laporan Perkembangan Proyek Pengembangan Panas Bumi
• Pembahasan Hasil Review Usulan Investasi Business Development
• Company Performance Evaluation for September 2026
• Corporate Risk Monitoring for Q3 2026
• Geothermal Development Project Progress Report
• Discussion of the Results of the Business Development Investment Proposal Review
November • Evaluasi Kinerja Perseroan Bulan Oktober 2026
• Laporan Perkembangan Proyek Pengembangan Panas Bumi
• Company Performance Evaluation for October 2026
• Geothermal Development Project Progress Report
Desember • Evaluasi Kinerja Perseroan Bulan November 2026
December • Evaluasi dan Penetapan Program retensi pekerja Perseroan
• Penyampaian Rencana Kerja dan Anggaran Perusahaan (RKAP) Tahun 2027
• Sustainability Committee Meeting
• Monitoring Risiko Korporasi Triwulan IV 2026
• Company Performance Evaluation for November 2026
• Evaluation and Determination of the Company's Employee Retention Program
• Submission of the 2027 Corporate Work Plan and Budget (RKAP)
• Sustainability Committee Meeting
• Corporate Risk Monitoring Quarter IV 2026
PENGEMBANGAN KOMPETENSI DIREKSI BOARD OF DIRECTORS’ COMPETENCY
DEVELOPMENT
Sebagaimana diatur dalam Board Manual, peningkatan As governed in the Board Manual, enhancing the capabilities and
kapabilitas atau kompetensi merupakan hal penting bagi competencies of members of the Board of Directors is essential to
anggota Direksi untuk dapat mengikuti perkembangan terkini stay abreast of the latest developments in the Company’s business
dari aktivitas bisnis Perseroan dan pengetahuan lainnya yang activities and other knowledge that supports the performance of
mendukung pelaksanaan tugas Direksi. the Board of Directors’ duties.
Selama tahun 2025, anggota Direksi telah mengikuti pelatihan/ In 2025, members of the Board of Directors participated in
seminar/workshop yang dapat dilihat pada bagian Profil Direksi training, seminars, and workshops, which can be seen in the
dalam Laporan Tahunan ini. Board of Directors’ Profile section of this Annual Report.
Pelaksanaan program pelatihan dan pengembangan kompetensi The implementation of the training and competency development
Direksi disiapkan oleh Fungsi Human Capital, Komite Nominasi program for the Board of Directors is prepared by the Human
dan Remunerasi dan didukung pelaksanaannya oleh Fungsi Capital Function and the Nomination and Remuneration
Sekretaris Perusahaan. Committee and supported by the Corporate Secretary Function.
PENILAIAN KINERJA DIREKSI BOARD OF DIRECTORS’ PERFORMANCE
ASSESSMENT
Penilaian kinerja Direksi dilakukan berdasarkan Indikator Kinerja The performance evaluation of the Board of Directors is carried
Utama oleh Dewan Komisaris untuk disampaikan kepada out by the Board of Commissioners based on Key Performance
Pemegang Saham dalam RUPS. Indikator Kinerja merupakan Indicators, which are subsequently presented to the Shareholders
penjabaran dari RKAP. at the GMS. These Key Performance Indicators are derived from
the RKAP.
Prosedur Penilaian Assessment Procedure
1. Direksi melakukan penilaian mandiri atas kinerja masing- 1. The Board of Directors conducts a self-assessment of the
masing anggota Direksi secara individu dan kolegial. performance of each member of the Board of Directors, both
individually and collegially.
PT Pertamina Geothermal Energy Tbk
Page 347
Laporan Tahunan 2025 | 2025 Annual Report 345
2. Dewan Komisaris mengevaluasi kinerja dan penilaian 2. The Board of Commissioners evaluates the performance and
mandiri masing-masing anggota Direksi secara individu dan self-assessment of each member of the Board of Directors,
kolegial. both individually and collegially.
3. Kinerja Direksi dilaporkan dalam Laporan Tugas Pengawasan 3. The performance of the Board of Directors is reported in the
oleh Dewan Komisaris kepada RUPS. Pemegang Saham Supervisory Report by the Board of Commissioners to the
melakukan penilaian kinerja Direksi secara kolegial yang GMS. Shareholders conduct a collegial assessment of the
dituangkan dalam persetujuan dan pengesahan Laporan performance of the Board of Directors, which is outlined in the
Tahunan Perseroan. approval and ratification of the Company’s Annual Report.
Kriteria Penilaian Kinerja Direksi Board of Directors Performance
Assessment Criteria
Kriteria penilaian kinerja Direksi Perseroan antara lain mencakup The criteria for assessing the performance of the Company’s
pemahaman dan pencapaian kinerja Financial, Internal Process, Board of Directors include, among other things, the understanding
Customer Focus dan Learning and Growth. and achievement of Financial Performance, Internal Processes,
Customer Focus, and Learning and Growth.
Pihak Yang Melakukan Penilaian Kinerja Parties Conducting the Board of Directors
Direksi Performance Assessment
Penilaian kinerja Direksi dilakukan Dewan Komisaris dan The performance evaluation of the Board of Directors is carried
pemegang saham yang disampaikan dalam RUPS. out by the Board of Commissioners and the Shareholders, and is
subsequently presented at the GMS.
Hasil Penilaian Kinerja Direksi Board of Directors Performance
Assessment Results
Hasil penilaian kinerja Direksi pada 2025 adalah sebagai The results of the Board of Directors’ performance assessment in
berikut: 2025 are as follows:
Nama Jabatan Realisasi KPI Skor ABS* Total Nilai
Name Position KPI Realization ABS Score Total Value
Direktur Utama
Julfi Hadi 107,81 4,40 97,91
President Director
Direktur Operasi
Ahmad Yani 107,79 3,92 93,06
Director of Operation
Edwil Suzandi Direktur Eksplorasi dan Pengembangan
107,23 3,83 91,95
Director of Exploration and Development
Yurizki Rio Direktur Keuangan
107,95 3,94 93,38
Director of Finance
* ABS: AKHLAK Behaviour Survey (1-5)
KOMITE DI BAWAH DIREKSI COMMITTEES UNDER THE BOARD OF
DIRECTORS
Komite Manajemen Risiko Risk Management Committee
Komite Manajemen Risiko merupakan komite yang dibentuk The Risk Management Committee is a committee established
oleh Direksi untuk membantu tugas Direksi terkait pelaksanaan by the Board of Directors to assist the Board of Directors in
manajemen risiko Perseroan. Komite Manajemen Risiko bertugas implementing the Company’s risk management. The Risk
memantau, mengevaluasi, dan memberikan arahan terkait Management Committee is tasked with monitoring, evaluating,
pelaksanaan kebijakan Enterprise Risk Management serta and providing direction regarding the implementation of
pengelolaan risiko Perseroan secara menyeluruh, termasuk Enterprise Risk Management policies and the Company’s overall
mengkaji ulang secara berkala berbagai risiko Perseroan dan risk management, including periodically reviewing various
upaya mitigasinya. Company risks and their mitigation efforts.
PT Pertamina Geothermal Energy Tbk
Page 348
346 Laporan Tahunan 2025 | 2025 Annual Report
Pedoman dan Tata Tertib Kerja (Piagam) Committee Charter
Komite
Komite Manajemen Risiko memiliki Piagam yang menjadi acuan The Risk Management Committee has a Charter that serves as a
dalam menjalankan tugasnya yang mengatur antara lain: reference in carrying out its duties, which regulates, among other
things:
1. Traktat dan Komitmen Manajemen Risiko, yang memuat 1. Risk Management Treaty and Commitment, which outlines the
komitmen penerapan Manajemen Risiko dalam setiap commitment to implementing Risk Management in all business
kegiatan proses bisnis, proyek, dan manajemen perubahan processes, projects, and change management activities to
untuk mencapai visi Perusahaan dan mencegah kerugian achieve the Company’s vision and prevent operational losses.
operasional Perusahaan, yang diperbarui dan disahkan This was updated and ratified in July 2024.
pada Juli 2024.
2. Pedoman Pengelolaan Risiko Perusahaan (Enterprise Risk 2. Enterprise Risk Management Guidelines No.
Management) No.A-001/PGE900/2025-S9 Revisi 00 A-001/PGE900/2025-S9, Revision 00, dated August 1,
tanggal 1 Agustus 2025. 2025.
3. Surat Keputusan No. Kpts-26/PGE000/2025-S0 tanggal 10 3. Decree No. Kpts-26/PGE000/2025-S0 dated March 10,
Maret 2025 tentang Komite Manajemen Risiko. 2025, concerning the Risk Management Committee.
Tugas dan Tanggung Jawab Komite Committee Duties and Responsibilities
Komite Manajemen Risiko memiliki tugas dan tanggung jawab The Risk Management Committee has the following duties and
sebagai berikut: responsibilities:
1. Menetapkan kebijakan dan strategi Enterprise Risk 1. Establishing a comprehensive written Enterprise Risk
Management yang komprehensif secara tertulis: Management policy and strategy:
a. Termasuk dalam kebijakan dan strategi Enterprise Risk a. The Enterprise Risk Management policy and strategy
Management adalah penetapan Risk Appetite, Risk include establishing Risk Appetite, Risk Attitude, and Risk
Attitude dan Risk Tolerance baik risiko secara keseluruhan Tolerance both for overall risk (composite), per risk type,
(composite), per jenis risiko, maupun per aktivitas and per functional activity.
fungsional.
b. Kebijakan dan strategi Enterprise Risk Management b. The Enterprise Risk Management policy and strategy are
ditetapkan sekurang-kurangnya 1 (satu) kali dalam established at least once a year or at a higher frequency
setahun atau frekuensi yang lebih tinggi dalam hal if there are changes in factors significantly impacting the
terdapat perubahan faktor-faktor yang mempengaruhi Company’s business activities.
aktivitas usaha Perseroan secara signifikan.
2. Bertanggung jawab atas pemantauan pelaksanaan kebijakan 2. Responsible for monitoring the implementation of the
Enterprise Risk Management dan pengelolaan risiko yang Enterprise Risk Management policy and the Company’s
diambil oleh Perseroan secara keseluruhan yang meliputi overall risk management, including the evaluation process
proses evaluasi dan pemberian arahan berdasarkan laporan and providing direction based on reports submitted by the
yang disampaikan oleh Fungsi Enterprise Risk Management Enterprise Risk Management Function and the Audit Executive
dan Fungsi Internal Audit. Function.
3. Mengevaluasi aktivitas yang memerlukan persetujuan Direksi 3. Evaluating activities requiring Board of Directors approval in
sesuai dengan kebijakan dan prosedur yang berlaku. accordance with applicable policies and procedures.
4. Mengevaluasi efektivitas penerapan Enterprise Risk 4. Periodically evaluating the effectiveness of the Company’s
Management Perseroan secara berkala, antara lain Enterprise Risk Management implementation, including
metodologi penilaian risiko, implementasi sistem informasi risk assessment methodology, management information
manajemen, ketepatan kebijakan, prosedur, dan penetapan system implementation, the appropriateness of policies and
risk appetite dan risk tolerance. procedures, and the determination of risk appetite and risk
tolerance.
5. Mengkaji ulang secara berkala yang dimaksudkan untuk 5. Conducting periodic reviews to anticipate changes in the
mengantisipasi apabila terjadi perubahan situasi, kondisi Company’s internal and external situations, conditions,
dan perkembangan internal dan eksternal Perseroan. and developments. Determining matters related to business
Penetapan hal-hal yang terkait dengan keputusan bisnis yang decisions that deviate from normal procedures (irregularities).
menyimpang dari prosedur normal (irregularities).
6. Memantau kegiatan dan independensi operasi fungsi 6. Monitor the activities and operational independence of the
Enterprise Risk Management Perseroan. Company’s Enterprise Risk Management function.
7. Mengembangkan budaya sadar risiko (risk consciousness) 7. Develop a culture of risk awareness at all levels of the
pada seluruh jenjang Perseroan. Company.
PT Pertamina Geothermal Energy Tbk
Page 349
Laporan Tahunan 2025 | 2025 Annual Report 347
8. Menyampaikan informasi update terkait pengelolaan risiko 8. Provide updated information regarding risk management
melalui rapat Direksi paling kurang 1 (satu) kali dalam through Board of Directors meetings at least once a year.
setahun.
9. Mengembangkan kompetensi sumber daya manusia yang 9. Develop human resource competencies related to Enterprise
terkait dengan Enterprise Risk Management. Risk Management.
Komposisi dan Masa Jabatan Komite Composition and Term of Office of
Committee
Anggota Komite Manajemen Risiko diangkat melalui Surat Members of the Risk Management Committee are appointed
Keputusan No. Kpts-26/PGE000/2025-S0 tanggal 10 Maret through Decree No. Kpts-26/PGE000/2025-S0 dated 10
2025 tentang Komite Manajemen Risiko yang terdiri dari March 2025, concerning the Risk Management Committee. The
anggota Direksi dan Pejabat di bawah Direksi serta diketuai oleh Committee consists of members of the Board of Directors and
anggota Direksi officers one down director and is chaired by a member of the
Board of Directors.
Nama Jabatan
No
Name Position
1 Julfi Hadi* Ketua/Direktur | Chairman/DIrector
2 Yurizki Rio Anggota/Direktur | Member/Director
3 Ahmad Yani Anggota/Direktur | Member/Director
4 Edwil Suzandi Anggota/Direktur | Member/Director
5 Elise** Anggota | Member
6 Arie Bimantoro*** Anggota | Member
Keterangan | Note :
* Mengundurkan diri efektif per tanggal 20 Januari 2026 | Resigned effective 20 January 2026
** Menjadi anggota komite efektif per Januari - Juli 2025 | Serve as a committee member effective as of January - July 2025
*** Menjadi anggota komite efektif per Juli - Desember 2025 | Serve as a committee member effective as of July - December 2025
Profil Anggota Komite Manajemen Risiko Profile of the Risk Management
Committee Member
Profil anggota Direksi yang menjadi anggota Komite Manajemen The profile of the Board of Directors member serving on the Risk
Risiko dapat dilihat pada Profil Direksi pada halaman 108-111, Management Committee can be found in the Board of Directors
sedangkan profil Arie Bimantoro dapat dilihat pada profil Chief Profile section on page 108-111, while the profile of Arie
Audit Executive pada halaman 373 dalam Laporan Tahunan ini. Bimantoro can be found in the Chief Audit Executive profile on
page 373 of this Annual Report.
Rapat Komite Committee Meetings
Komite Manajemen Risiko melaksanakan rapat paling kurang The Risk Management Committee meets at least 4 (four) times a
4 (empat) kali setahun. Keputusan yang diambil dalam rapat year. Decisions made at these meetings are based on deliberation
tersebut didasarkan pada musyawarah untuk mufakat. and consensus.
Frekuensi Rapat dan Tingkat Kehadiran Meeting Frequency and Attendance Level
Pada tahun 2025, Komite Manajemen Risiko telah melaksanakan In 2025, the Risk Management Committee held 4 (four) meetings,
4 (empat) kali rapat, dengan tingkat rata-rata kehadiran anggota with an average attendance level of 100% as the table follows:
Komite Manajemen Risiko sebesar 100% sebagaimana tabel
berikut:
PT Pertamina Geothermal Energy Tbk
Page 350
348 Laporan Tahunan 2025 | 2025 Annual Report
Jumlah Rapat Tingkat
Nama Jabatan Persentase Keterangan
Name Position
Number of Kehadiran Percentage Description
Meeting Attendance Level
Julfi Hadi Ketua -
4 4 100%
Chairman
Yurizki Rio Anggota -
4 4 100%
Member
Ahmad Yani Anggota -
4 4 100%
Member
Edwil Suzandi Anggota -
4 4 100%
Member
Elise Anggota Menjadi anggota komite efektif per
Member Januari - Juli 2025
3 3 100%
Serve as a committee member effective
as of January - July 2025
Arie Bimantoro Anggota Menjadi anggota komite efektif per Juli -
Member Desember 2025
1 1 100%
Serve as a committee member effective
as of July - December 2025
Pelaksanaan Kegiatan Komite 2025 Implementation of Committee Activities
in 2025
Sesuai dengan tugas dan tanggung jawab Komite Manajemen In accordance with the duties and responsibilities of the Risk
Risiko, berikut kegiatan yang telah dilakukan selama tahun 2025: Management Committee, the following activities were carried out
during 2025:
1. Mengevaluasi efektivitas penerapan Enterprise Risk 1. Evaluating the effectiveness of the Company’s Enterprise
Management Perseroan selama tahun 2025, antara lain Risk Management implementation in 2025, including
terhadap metodologi penilaian risiko, implementasi sistem risk assessment methodology, management information
informasi manajemen, ketepatan kebijakan, prosedur, system implementation, the appropriateness of policies and
penetapan strategi risiko termasuk risk appetite, risk procedures, and the establishment of risk strategies, including
tolerance, dan risk limit 2025. risk appetite, risk tolerance, and risk limits for 2025.
2. Mengkaji ulang secara berkala status risiko (Top Risk) 2. Regularly reviewing the Company’s risk status (Top Risks) to
perusahaan untuk mengantisipasi apabila terjadi perubahan anticipate changes in the Company’s internal and external
situasi, kondisi dan perkembangan internal dan eksternal situations, conditions, and developments.
Perseroan.
Pengembangan Kompetensi Anggota Committee Member Competency
Komite Development
Anggota Komite senantiasa diberikan kesempatan dan fasilitas Committee members are consistently provided with opportunities
untuk mengikuti pelatihan maupun seminar yang relevan dengan and facilities to participate in training and seminars relevant
tugasnya, terutama terkait investasi dan manajemen risiko. to their duties, particularly those related to investment and risk
Pelatihan/seminar yang telah diikuti anggota komite selama management. The training and seminars attended by committee
tahun 2025 sebagai berikut: members during 2025 are as follows:
PT Pertamina Geothermal Energy Tbk
Page 351
Laporan Tahunan 2025 | 2025 Annual Report 349
Waktu dan Tempat
Nama Jenis Pelatihan Penyelenggara
Name Training Type
Penyelenggaraan Organizer
Time and Venue
Julfi Hadi Sertifikasi Manajemen Risiko 7 Februari 2025 PT Pertamina Geothermal Energy Tbk
Risk Management Certification 7 February 2025
Executive Briefing Business Continuity 21 Juli 2025 PT Pertamina Geothermal Energy Tbk
Management System (BCMS) 21 July 2025
Risk Maturity Assessment (RMA) 2 September 2025 PT Pertamina Geothermal Energy Tbk
Risk Management Forum 20 Oktober 2025 Pertamina NRE
20 October 2025
Executive Briefing atas Hasil Risk 3 Desember 2025 PT Pertamina Geothermal Energy Tbk
Maturity Assessment (RMA) 3 December 2025
Executive Briefing on Risk Maturity
Assessment (RMA) Results
Yurizki Rio Sertifikasi Manajemen Risiko 18 Februari 2025 PT Pertamina Geothermal Energy Tbk
Risk Management Certification 18 February 2025
Executive Briefing Business Continuity 21 Juli 2025 PT Pertamina Geothermal Energy Tbk
Management System (BCMS) 21 July 2025
Risk Maturity Assessment (RMA) 2 September 2025 PT Pertamina Geothermal Energy Tbk
Risk Management Forum 20 Oktober 2025 Pertamina NRE
20 October 2025
Ahmad Yani Sertifikasi Manajemen Risiko 18 Februari 2025 PT Pertamina Geothermal Energy Tbk
Risk Management Certification 18 February 2025
Executive Briefing Business Continuity 21 Juli 2025 PT Pertamina Geothermal Energy Tbk
Management System (BCMS) 21 July 2025
Risk Maturity Assessment (RMA) 2 September 2025 PT Pertamina Geothermal Energy Tbk
Risk Management Forum 20 Oktober 2025 Pertamina NRE
20 October 2025
Executive Briefing atas Hasil Risk 3 Desember 2025 PT Pertamina Geothermal Energy Tbk
Maturity Assessment (RMA) 3 December 2025
Executive Briefing on Risk Maturity
Assessment (RMA) Results
Edwil Suzandi Sertifikasi Manajemen Risiko 18 Februari 2025 PT Pertamina Geothermal Energy Tbk
Risk Management Certification 18 February 2025
Executive Briefing Business Continuity 21 Juli 2025 PT Pertamina Geothermal Energy Tbk
Management System (BCMS) 21 July 2025
Risk Maturity Assessment (RMA) 2 September 2025 PT Pertamina Geothermal Energy Tbk
Risk Management Forum 20 Oktober 2025 Pertamina NRE
20 October 2025
Executive Briefing atas Hasil Risk 3 Desember 2025 PT Pertamina Geothermal Energy Tbk
Maturity Assessment (RMA) 3 December 2025
Executive Briefing on Risk Maturity
Assessment (RMA) Results
Elise Executive Briefing Business Continuity 21 Juli 2025 PT Pertamina Geothermal Energy Tbk
Management System (BCMS) 21 July 2025
Arie Bimantoro Risk Maturity Assessment (RMA) 2 September 2025 PT Pertamina Geothermal Energy Tbk
Risk Management Forum 20 Oktober 2025 Pertamina NRE
20 October 2025
Executive Briefing atas Hasil Risk 3 Desember 2025 PT Pertamina Geothermal Energy Tbk
Maturity Assessment (RMA) 3 December 2025
Executive Briefing on Risk Maturity
Assessment (RMA) Results
PT Pertamina Geothermal Energy Tbk
Page 352
350 Laporan Tahunan 2025 | 2025 Annual Report
Penilaian Kinerja Komite Committee Performance Assessment
Keanggotaan Komite Manajemen Risiko terdiri dari anggota The membership of the Risk Management Committee consists of
Direksi dan Pejabat di bawah Direksi dan penilaian kinerja members of the Board of Directors and officials reporting directly
komite melekat pada KPI Direksi dan anggota komite tersebut. to the Board of Directors, and the Committee’s performance
evaluation is incorporated into the KPIs of the Board of Directors
and the respective Committee members.
Selama tahun 2025, Komite Manajemen Risiko telah During 2025, the Risk Management Committee carried out its
melaksanakan tugas dan tanggungjawabnya dengan baik duties and responsibilities effectively, including assisting the Board
antara lain membantu Direksi dalam mengevaluasi efektivitas of Directors in evaluating the effectiveness of the implementation
penerapan Enterprise Risk Management Perseroan. of Enterprise Risk Management.
NOMINASI DAN PEMILIHAN ANGGOTA NOMINATION AND SELECTION
DEWAN KOMISARIS DAN DIREKSI OF MEMBERS OF THE BOARD OF
COMMISSIONERS AND BOARD OF
DIRECTORS
Sebagai bagian dari afiliasi Badan Usaha Milik Negara, As part of the State-Owned Enterprise (SOE) affiliation, the
prosedur nominasi dan pemilihan anggota Dewan Komisaris dan nomination and selection procedures for members of the
Direksi PGE mengacu pada ketentuan Peraturan Menteri BUMN Board of Commissioners and Board of Directors of PGE refer
Nomor PER-3/MBU/03/2023 tentang Organ dan Sumber Daya to the provisions of the Minister of SOE Regulation No. PER-3/
Manusia BUMN. Pengangkatan anggota Dewan Komisaris MBU/03/2023 concerning SOE Organs and Human Resources.
dan Direksi merupakan kewenangan pemegang saham melalui The appointment of members of the Board of Commissioners and
Keputusan RUPS. Board of Directors is the authority of shareholders through a GMS
Resolution.
Proses nominasi dan seleksi calon anggota Dewan Komisaris dan The nomination and selection process for candidates for the Board
Direksi senantiasa mempertimbangkan persyaratan, kompetensi, of Commissioners and Board of Directors consistently considers
integritas. Calon anggota Dewan Komisaris dan Direksi dapat requirements, competency, and integrity. Candidates for the
berasal dari internal maupun eksternal Perseroan dan wajib Board of Commissioners and Board of Directors can come from
memenuhi persyaratan sesuai dengan ketentuan peraturan within or outside the Company and must meet the requirements
perundang undangan yang berlaku. Calon yang memenuhi in accordance with applicable laws and regulations. Candidates
kriteria wajib mengikuti dan lulus uji kelayakan dan kepatutan who meet the criteria are required to undergo and pass a fit and
atau fit and proper test. proper test.
Kementerian BUMN menyampaikan surat hasil konsultasi/FIT The Ministry of State-Owned Enterprises submits a letter of
beserta usulan pengangkatan calon anggota Dewan Komisaris consultation results/FIT along with a proposal for the appointment
dan Direksi kepada Rapat Umum Pemegang Saham (RUPS) of prospective members of the Board of Commissioners and
untuk ditetapkan sebagai anggota Dewan Komisaris dan/atau Board of Directors to the General Meeting of Shareholders (GMS)
anggota Direksi melalui Keputusan RUPS. to be appointed as members of the Board of Commissioners and/
or members of the Board of Directors through a GMS Decision.
PT Pertamina Geothermal Energy Tbk
Page 353
Laporan Tahunan 2025 | 2025 Annual Report 351
Proses Nominasi dan Pemilihan Anggota Nomination and Selection Process for
Dewan Komisaris dan Direksi Members of the Board of Commissioners and
the Board of Directors
Kewenangan Badan Pengaturan BUMN Kewenangan RUPS
Authority of SOE Regulatory Agency Authority of GMS
Usulan RUPS
Penetapan dan
Nominasi Seleksi Uji Kelayakan Pengangkatan
Pengangkatan
Nomination Selection Fit and Proper Test Recomendation GMS Determination
for Promotion and Appointment
PEMBERHENTIAN/PENGUNDURAN DIRI DISMISSAL/RESIGNATION OF MEMBERS
ANGGOTA DEWAN KOMISARIS DAN OF THE BOARD OF COMMISSIONERS AND
DIREKSI BOARD OF DIRECTORS
Pemberhentian/pengunduran diri anggota Dewan Komisaris dan The dismissal/resignation of members of the Board of
Direksi diatur dalam Anggaran Dasar dan Board Manual. Commissioners and Board of Directors is regulated in the Articles
of Association and the Board Manual.
Pemberhentian anggota Dewan Dismissal of Members of the Board
Komisaris dan Direksi of Commissioners and the Board of
Directors
1. RUPS dapat memberhentikan anggota Dewan Komisaris dan 1. The GMS may dismiss members of the Board of Commissioners
Direksi sewaktu-waktu sebelum masa jabatannya berakhir and Board of Directors at any time before the end of their
dengan menyebutkan alasan sebagai berikut: term of office by stating the following reasons:
a. Tidak dapat memenuhi kewajibannya yang telah a. Unable to fulfill their obligations as agreed in the
disepakati dalam kontrak manajemen. management contract.
b. Tidak dapat menjalankan tugasnya dengan baik. b. Unable to perform their duties properly.
c. Melanggar ketentuan Anggaran Dasar dan/atau c. Violating the provisions of the Articles of Association
peraturan perundang-undangan yang berlaku. and/or applicable laws and regulations.
d. Dinyatakan bersalah dengan Keputusan pengadilan d. Being found guilty by a court decision that has permanent
yang telah berkekuatan hukum tetap. legal force.
e. Terlibat dalam tindakan yang merugikan Perseroan dan/ e. Involved in actions detrimental to the Company and/or
atau Negara. the State.
f. Terdapat keadaan antara para anggota Dewan Komisaris f. There is a familial relationship among members of the
dan antara anggota Dewan Komisaris dengan anggota Board of Commissioners and between the members of the
Direksi memiliki hubungan keluarga sampai dengan Board of Commissioners and the members of the Board
derajat ketiga, baik menurut garis lurus maupun garis of Directors up to the third degree, either vertically or
samping, termasuk hubungan semenda (menantu dan horizontally, including relationships by marriage (son-in-
ipar). law and sister-in-law).
g. Tidak lagi memenuhi persyaratan perundang undangan g. No longer meeting the requirements of applicable laws
yang berlaku. and regulations.
h. Alasan lainnya diberhentikan oleh RUPS. h. Other reasons for dismissal by the GMS.
2. Dewan Komisaris dan Direksi yang diberhentikan tersebut 2. The dismissed Board of Commissioners and Board of
tetap diminta pertanggung jawabannya terhitung dari awal Directors shall remain accountable from the beginning of the
tahun buku sampai dengan tanggal efektif pemberhentiannya, financial year until the effective date of their dismissal as long
sepanjang tindakan Dewan Komisaris dan Direksi tersebut as the actions of the Board of Commissioners and the Board
tercermin dalam Laporan Tahunan tahun buku yang of Directors are reflected in the Annual Report for the financial
bersangkutan. year in question.
PT Pertamina Geothermal Energy Tbk
Page 354
352 Laporan Tahunan 2025 | 2025 Annual Report
3. Bagi anggota Dewan Komisaris dan Direksi yang sudah tidak 3. Members of the Board of Commissioners and Board of
menjabat sebelum maupun pada saat masa jabatannya berakhir Directors who cease to hold office before or at the end of
kecuali karena meninggal dunia, maka yang bersangkutan their term of office, except due to death, remain responsible
tetap bertanggung jawab atas tindakan-tindakannya yang for their actions for which a GMS has not yet been accounted
belum diterima pertanggungjawabannya oleh RUPS. for.
4. Perseroan wajib melakukan keterbukaan informasi kepada 4. The Company is required to disclose information to the public
masyarakat dan menyampaikan kepada Otoritas Jasa and submit to the Financial Services Authority (OJK) no later
Keuangan (OJK) paling lambat dua hari kerja mengenai: than 2 (two) business days regarding:
a. Keputusan pemberhentian sementara. a. Decision on temporary dismissal.
b. Hasil penyelenggaraan RUPS sebagaimana dimaksud di atas. b. Results of the GMS implementation, as referred to above.
Pengunduran Diri Anggota Dewan Resignation of Members of the Board of
Komisaris dan Direksi Commissioners and Board of Directors
1. Anggota Dewan Komisaris dan Direksi berhak mengundurkan 1. Members of the Board of Commissioners and Board of
diri dari jabatannya dengan memberitahukan secara tertulis Directors have the right to resign from their positions
mengenai maksud tersebut kepada Perseroan sekurangnya by providing written notification of their intention to the
60 (enam puluh) Hari Kalender sebelum tanggal Company at least 60 (sixty) calendar days prior to the date
pengunduran dirinya. Pemberitahuan tertulis tersebut tidak of their resignation. Such written notification shall not be valid
berlaku jika anggota Dewan Komisaris dan Direksi yang if the member of the Board of Commissioners or Board of
bersangkutan ditugaskan oleh pejabat yang berwenang atau Directors is assigned by an authorized official or if there are
terdapat ketentuan peraturan perundangan yang mengatur other statutory provisions. The Company is required to hold a
lain. Perseroan wajib menyelenggarakan RUPS untuk GMS to decide on the resignation of the member of the Board
memutuskan permohonan pengunduran diri anggota Dewan of Commissioners within a period of no later than 60 (sixty)
Komisaris yang bersangkutan dalam jangka waktu paling calendar days upon receipt of such written notification.
lambat 60 (enam puluh) Hari Kalender setelah diterimanya
pemberitahuan secara tertulis tersebut.
2. Dalam hal Perseroan tidak menyelenggarakan RUPS dalam 2. In the event that the Company does not hold a GMS
jangka waktu tersebut, maka dengan lampaunya kurun waktu within the said period, then with the lapse of said period,
tersebut pengunduran diri anggota Dewan Komisaris dan the resignation of the relevant member of the Board of
Direksi yang bersangkutan menjadi sah tanpa memerlukan Commissioners and Board of Directors becomes valid without
persetujuan RUPS, dengan ketentuan apabila pengunduran requiring the approval of the GMS, with the provision that if
diri tersebut mengakibatkan jumlah anggota Dewan the resignation results in the number of members of the Board
Komisaris menjadi kurang dari 2 (dua) orang atau kurang of Commissioners becoming less than 2 (two) people or less
dari persyaratan yang ditetapkan, maka pengunduran diri than the stipulated requirements, then the resignation is valid
tersebut sah apabila telah ditetapkan oleh RUPS dan telah if it has been determined by the GMS and a new member of
diangkat anggota Dewan Komisaris yang baru. the Board of Commissioners has been appointed.
3. Terhadap anggota Dewan Komisaris dan Direksi yang 3. Members of the Board of Commissioners and Board of
mengundurkan diri sebagaimana tersebut di atas tetap dapat Directors who resign as mentioned above may still be held
dimintakan pertanggungjawabannya sebagai anggota accountable for their duties as members of the Board of
Dewan Komisaris dan Direksi sejak pengangkatan yang Commissioners and Board of Directors from the date of their
bersangkutan hingga tanggal pengunduran dirinya sebagai appointment until the date of their resignation.
anggota Dewan Komisaris dan Direksi.
a. Perseroan wajib melakukan keterbukaan informasi a. The Company is required to disclose information to the
kepada masyarakat dan menyampaikan kepada OJK public and submit it to the Financial Services Authority
paling lambat dua hari kerja setelah: (OJK) no later than 2 (two) business days after:
• Diterimanya permohonan pengunduran diri. • Receipt of the resignation request.
• Hasil penyelenggaraan RUPS sebagaimana dimaksud • The results of the GMS implementation, as referred to
di atas. above.
b. Dalam hal pengunduran diri anggota Dewan Komisaris b. In the event that the resignation of a member of the Board of
dan Direksi belum berlaku efektif, maka yang Commissioners and Board of Directors has not yet become
bersangkutan tetap bertanggung jawab atas pelaksanaan effective, the relevant member remains responsible for
tugas dan tanggung jawabnya sesuai Anggaran Dasar carrying out their duties and responsibilities in accordance
dan peraturan perundang undangan. with the Articles of Association and laws and regulations.
PT Pertamina Geothermal Energy Tbk
Page 355
Laporan Tahunan 2025 | 2025 Annual Report 353
REMUNERASI DEWAN KOMISARIS DAN REMUNERATION OF THE BOARD OF
DIREKSI COMMISSIONERS AND THE BOARD OF
DIRECTORS
Kebijakan Remunerasi Remuneration Policy
Penetapan remunerasi Direksi dan Dewan Komisaris dilakukan The remuneration of the Board of Directors and Board of
berdasarkan keputusan RUPS. RUPS memberikan wewenang Commissioners is determined based on a resolution of the
dan kuasa kepada Dewan Komisaris dengan terlebih dahulu GMS. The GMS grants authority and power to the Board
mendapatkan persetujuan Pemegang Saham Pengendali of Commissioners, with prior approval from the Company’s
Perseroan untuk menetapkan honorarium, tunjangan, dan fasilitas Controlling Shareholders, to determine the honorarium,
lainnya bagi anggota Dewan Komisaris dan Direksi tahun 2025. allowances, and other facilities for members of the Board of
Commissioners and Board of Directors for 2025.
Perseroan juga memperhatikan ketentuan dan peraturan The Company also considers applicable laws and regulations in
perundang-undangan yang berlaku dalam penetapan remunerasi determining the remuneration of the Board of Directors and Board
Direksi dan Dewan Komisaris. of Commissioners.
01
Direksi Perseroan dapat mengajukan usulan
remunerasi kepada Dewan Komisaris untuk
02
Dewan Komisaris melalui Komite Nominasi
dan Remunerasi melakukan kajian remunerasi
03
Persetujuan dan pengesahan oleh RUPS atas
besaran, bentuk, dan waktu berlaku remunerasi
mendapatkan rekomendasi. dan memberikan rekomendasi kepada Dewan Direksi dan Dewan Komisaris.
Komisaris untuk disampaikan kepada RUPS guna
The Company’s Board of Directors may mendapatkan persetujuan dan pengesahan. Approval and ratification by the GMS of the
submit remuneration proposals to the Board of amount, form and period of validity of the
Commissioners for recommendations. The Board of Commissioners, through the remuneration of the Board of Directors and Board
Nomination and Remuneration Committee, of Commissioners.
conducts a remuneration review and provides
recommendations to the Board of Commissioners
to be submitted to the GMS for approval and
ratification.
Indikator Penetapan Remunerasi Dewan Indicators for Determination of
Komisaris dan Direksi Remuneration for the Board of
Commissioners and Board of Directors
Indikator penetapan remunerasi Direksi yang bersifat tetap terdiri The indicators for determining fixed remuneration for the Board
dari: of Directors consist of:
1. Pendapatan. 1. Income.
2. Aktiva. 2. Assets.
3. Kondisi dan kemampuan keuangan Perseroan yang 3. The financial condition and capacity of the Company
bersangkutan. concerned.
4. Tingkat inflasi. 4. Inflation rate.
5. Faktor-faktor lain yang relevan. 5. Other relevant factors.
6. Kepatuhan (compliance) yang tidak boleh bertentangan 6. Compliance, which must not conflict with laws and regulations.
dengan peraturan perundang-undangan.
Indikator penetapan remunerasi yang berbentuk tantiem bersifat The indicators for determining remuneration in the form of a
variabel, berdasarkan beberapa faktor berikut: tantiem are variable, based on the following factors:
1. Kinerja Perseroan, termasuk EBITDA dan KPI. 1. Company performance, including EBITDA and KPIs.
2. Tingkat kesehatan perusahaan. 2. Company health.
3. Kondisi dan kemampuan keuangan Perseroan yang 3. The financial condition and capacity of the Company
bersangkutan. concerned.
4. Faktor-faktor lain yang relevan. 4. Other relevant factors.
PT Pertamina Geothermal Energy Tbk
Page 356
354 Laporan Tahunan 2025 | 2025 Annual Report
Penetapan remunerasi di Perseroan juga dipengaruhi oleh faktor The determination of remuneration in the Company is also
jabatan bagi Direksi dan Dewan Komisaris, yaitu: influenced by the position factors for the Board of Directors and
Board of Commissioners, namely:
1. Faktor jabatan Direktur Utama: 100%. 1. Position factor for the President Director: 100%.
2. Faktor jabatan anggota Direksi: 85% dari gaji Direktur 2. Position factor for members of the Board of Directors: 85% of
Utama. the President Director’s salary.
3. Faktor jabatan Komisaris Utama: 45% dari gaji Direktur 3. Position factor for the President Commissioner: 45% of the
Utama. President Director’s salary.
4. Faktor jabatan Komisaris: 90% dari honorarium Komisaris 4. Position factor for Commissioner: 90% of the President
Utama. Commissioner’s honorarium.
Struktur Remunerasi Dewan Komisaris dan Direksi
Remuneration Structure for the Board of Commissioners and Directors
Ketetapan
Komponen Determination
Component Komisaris Utama Komisaris
President Commissioner Commissioner
Honor 45% dari gaji Direktur Utama 90% dari honor Komisaris Utama
Honorarium 45% of the President Director’s salary 90% of the President Commissioner's honorarium
Tunjangan:
Allowance:
Transportasi 20% dari honor masing-masing anggota Dewan Komisaris
Transportation 20% of the honorarium of each member of the Board of Commissioners
THR 1 x honor
Religious Holiday Allowance 1 x honorarium
Asuransi Purna Jabatan Premi yang ditanggung oleh Perseroan paling banyak 25% dari honor dalam satu tahun
Post-Employment Insurance The premium borne by the Company is a maximum of 25% of the honorarium in one year.
Tunjangan:
Allowance:
Kesehatan Diberikan fasilitas kesehatan sesuai ketentuan yang berlaku di Perseroan
Health Provided with health facilities in accordance with the provisions applicable in the Company
Bantuan Hukum Diberikan bantuan hukum (termasuk Director’s & Officer’s Liability) sesuai ketentuan yang berlaku di
Legal Assistance Perseroan
Provided legal assistance (including Director's & Officer's Liability) in accordance with the provisions
applicable in the Company
Tantiem 45% dari Tantiem Direktur Utama 90% dari Tantiem Komisaris Utama
45% of the President Director's Tantiem 45% of the President Commissioner's Tantiem
Ketetapan
Komponen Determination
Component Direktur Utama Direktur
President Director Director
Gaji 100% 85% dari gaji Direktur Utama
Salary 85% of the President Director salary
Perumahan 40% dari gaji masing-masing anggota Direksi, dengan ketentuan paling banyak sebesar Rp27.500.000
Housing 40% of the salary of each member of the Board of Directors, with a maximum provision of Rp27,500,000
THR 1 x gaji
Religious Holiday Allowance 1 x salary
Asuransi Purna Jabatan Premi yang ditanggung oleh Perseroan paling banyak 25% dari gaji dalam satu tahun
Post-Employment Insurance The premium borne by the Company is a maximum of 25% of the salary in one year.
Kendaraan Diberikan satu unit Kendaraan Ringan Penumpang (KRP) sesuai ketentuan yang berlaku di Perseroan
Vehicle One unit of Light Passenger Vehicle (KRP) is provided in accordance with the provisions applicable to the
Company.
Kesehatan Diberikan fasilitas kesehatan sesuai ketentuan yang berlaku di Perseroan
Health Provided with health facilities in accordance with the provisions applicable in the Company
Bantuan Hukum Diberikan bantuan hukum (termasuk Director’s & Officer’s Liability) sesuai ketentuan yang berlaku di
Legal Assistance Perseroan
Provided legal assistance (including Director's & Officer's Liability) in accordance with the provisions
applicable in the Company
Cuti Tahunan 12 hari kerja dalam setahun apabila telah bekerja 12 bulan berturut-turut
Annual Leave 12 working days a year if the person has worked for 12 consecutive months
Tantiem 100% 85% dari Tantiem Direktur Utama
85% of the President Directors Tantiem
PT Pertamina Geothermal Energy Tbk
Page 357
Laporan Tahunan 2025 | 2025 Annual Report 355
Remunerasi Dewan Komisaris dan Remuneration of the Board of
Direksi Tahun 2025 Commissioners and the Board of
Directors in 2025
Realisasi Remunerasi Dewan Komisaris tahun 2025
Realization of Board of Commissioners Remuneration in 2025
Dalam Rupiah per tahun | In Rupiah per year
Dewan Komisaris
Jenis Remunerasi dan Fasilitas Mohammad Abdul Musawir
Lain Gigih Udi Atmo Firmansyah Yahya
John Anis Abdulla Zayed
Types of Remuneration and Other Komisaris Utama Komisaris Komisaris
Komisaris Komisaris
Facilities President Independen Independen
Commissioner Commissioner
Commissioner Independent Independent
Commissioner Commissioner
Remunerasi
Remuneration
Gaji
943.937.310 - 330.140.068 907.255.080 907.255.080
Salary
Tantiem* - - - - -
Fasilitas dan Manfaat Lain
Other Facilities and Benefits
Perumahan (Tidak dapat dimiliki)
- - - - -
Housing (Cannot be owned)
Transportasi (Tidak dapat dimiliki)
200.645.100 - 72.900.000 174.960.000 174.960.000
Transportation (Cannot be owned)
Asuransi Purna Jabatan **
235.984.328 - 82.535.017 226.813.770 226.813.770
Post-Employment Insurance**
Program MESOP tahap 1
(terealisasi)***
- - - - -
MESOP Program Phase 1
(Realized)***
Program MESOP tahap 2
(terealisasi)***
- - - - -
MESOP Program Phase 2
(Realized)***
Program MESOP tahap 3
(terealisasi)***
987.281.136 - - -
MESOP Program Phase 3
(Realized)***
Layanan Kesehatan
7.790.000 0 Rp19.036.096 Rp21.526.274 0
Healthcare
Layanan Kesehatan Keluarga
16.320.898 0 Rp14.530.690 Rp31.715.625 0
Family Healthcare
Total 1.404.677.636 987.281.136 519.141.871 1.362.270.749 1.309.028.850
Program MESOP (belum terealisasi)
MESOP Program (not yet realized)
Total Hak Opsi belum terealisasi
(Lembar)
1.705.136 1.534.623 - - 1.534.623
Total of Outstanding Option
Rights (Shares)
Lain-Lain
Others
THR
51.964.845 - - 51.964.845 65.594.968
Religious Holiday Allowance
Bantuan Hukum
- - - - -
Legal Assistance
Cuti Tahunan (hari)
12 12 12 12 12
Annual Leave (day)
Tantiem 0 0 0 0 0
Keterangan | Notes:
* Dalam Gross dan termasuk Tantiem Yang Ditangguhkan | Gross and includes Deferred Tantiem
** Termasuk Pencairan dan Pembayaran Premi | Includes Premium Disbursement and Payment
*** Gross | Gross
PT Pertamina Geothermal Energy Tbk
Page 358
356 Laporan Tahunan 2025 | 2025 Annual Report
Realisasi Remunerasi Direksi tahun 2025
Realization of the Board of Directors’ Remuneration in 2025
Dalam Rupiah per tahun | In Rupiah per year
Direksi
Board of Directors
Jenis Remunerasi dan Fasilitas Lain
Types of Remuneration and Other Facilities Julfi Hadi*) Ahmad Yani Edwil Suzandi Yurizki Rio
Direktur Utama Direktur Direktur Direktur
President Director Director Director Director
Remunerasi
Remuneration
Gaji
2.240.136.000 1.904.115.600 1.904.115.600 1.904.115.600
Salary
Tantiem1) - - - -
Fasilitas dan Manfaat Lain
Other Facilities and Benefits
Perumahan (Tidak dapat dimiliki)
330.000.000 330.000.000 330.000.000 330.000.000
Hosing (Cannot be owned)
Transportasi (Tidak dapat dimiliki)
760.000.000 760.000.000 760.000.000 760.000.000
Transportation (Cannot be owned)
Asuransi Purna Jabatan 2)
560.034.000 476.028.900 476.028.900 476.028.900
Post-Employment Insurance
Program MESOP tahap 1 (terealisasi)3)
4.354.951.404 3.701.708.844 - -
MESOP Program Phase 1 (Realized
Program MESOP tahap 2 (terealisasi)3)
3.029.782.408 2.575.314.859 - -
MESOP Program Phase 2 (Realized
Program MESOP tahap 3 (terealisasi)3)
2.437.731.762 2.072.072.082 2.072.072.082 2.072.072.082
MESOP Program Phase 3 (Realized
Layanan Kesehatan
25.126.548 83.710.021 58.355.391 28.239.102
Healthcare
Layanan Kesehatan Keluarga
0 103.615.766 23.095.843 25.725.416
Family Helathcare
Total 13.737.762.122 12.006.566.072 5.623.667.618 5.596.181.100
Program MESOP (belum terealisasi)
MESOP Program (not yet realized)
Total Hak Opsi belum terealisasi (Lembar)
3.789.192 3.220.813 3.220.813 3.220.813
Total of Outstanding Option Rights (Shares)
Lain-lain
Others
THR
186.678.000 158.676.300 158.676.300 158.676.300
Religious Holiday Allowance
Bantuan Hukum
- - - -
Legal Assistance
Cuti Tahunan (hari)
12 12 12 12
Annual Leave (day)
Tantiem - - - -
*)
Mengundurkan diri efektif per tanggal 20 Januari 2026 | Resigned effective 20 January 2026
1)
Dalam Gross dan termasuk Tantiem Yang Ditangguhkan | Gross and includes Deferred Tantiem
2)
Termasuk Pencairan dan Pembayaran Premi | Includes Premium Disbursement and Payment
3)
Gross | Gross
HUBUNGAN AFILIASI ANTARA ANGGOTA AFFILIATED RELATIONSHIPS BETWEEN
DIREKSI, DEWAN KOMISARIS, DAN MEMBERS OF THE BOARD OF DIRECTORS,
PEMEGANG SAHAM PENGENDALI BOARD OF COMMISSIONERS, AND
CONTROLLING SHAREHOLDERS
Seluruh anggota Dewan Komisaris tidak memiliki hubungan All members of the Board of Commissioners have no affiliated
afiliasi dengan anggota Direksi dan anggota Dewan Komisaris relationships with other members of the Board of Directors
lainnya baik hubungan keluarga sampai derajat kedua maupun or other members of the Board of Commissioners, whether
keuangan. Mayoritas anggota Dewan Komisaris tidak memiliki familial or financial. The majority of members of the Board of
PT Pertamina Geothermal Energy Tbk
Page 359
Laporan Tahunan 2025 | 2025 Annual Report 357
hubungan afiliasi dengan pemegang saham utama. 1 (satu) Commissioners have no affiliations with the major shareholders.
anggota Dewan Komisaris memiliki hubungan kepengurusan One member of the Board of Commissioners has a management
dengan pemegang saham utama, namun masih memenuhi relationship with the major shareholder but still complies with
ketentuan yang berlaku. applicable regulations.
Tabel Hubungan Afiliasi Dewan Table of Affiliated Relationships of the
Komisaris dan Direksi Board of Commissioners and the Board
of Directors
Hubungan Keluarga
Hubungan Keuangan dengan Hubungan Kepengurusan
Financial Relationship with
dengan Managemet Relationship
Familial relationship with
Nama Jabatan Dewan Direksi Pemegang Dewan Direksi Pemegang Saham
Name Position Komisaris BOD Saham Komisaris BOD Pengendali
BOC Pengendali BOC Controlling Shareholder
Controlling
Shareholder
Gigih Udi Atmo Komisaris
Utama
- - - - - -
President
Commissioner
John Anis Komisaris Sebagai CEO
Commissioner - - - - - Pertamina NRE
As CEO of Pertamina NRE
Mohammad Firmansyah Komisaris
Independen
- - - - - -
Independent
Commissioner
Abdul Musawir Yahya Komisaris
Independen
- - - - - -
Independent
Commissioner
Abdulla Zayed Komisaris
- - - - - -
Commissioner
Julfi Hadi*) Direktur
Utama
- - - - - -
President
Director
Edwil Suzandi Direktur
- - - - - -
Director
Ahmad Yani Direktur
- - - - - -
Director
Yurizko Rio Direktur
- - - - - -
Director
*) Mengundurkan diri efektif per tanggal 20 Januari 2026 | Resigned effective 20 January 2026
KEBIJAKAN RANGKAP JABATAN DEWAN POLICY ON CONCURRENT POSITIONS OF
KOMISARIS DAN DIREKSI THE BOARD OF COMMISSIONERS AND
THE BOARD OF DIRECTORS
Rangkap Jabatan Concurrent Positions
Rangkap jabatan Dewan Komisaris dan Direksi Perseroan diatur Concurrent positions of the Company’s Board of Commissioners
pada Board Manual yang mengacu pada Peraturan Menteri and Board of Directors are regulated in the Board Manual, which
BUMN No. PER-3/ MBU/03/2023 tentang Organ dan Sumber refers to the Regulation of the Minister of State-Owned Enterprises
Daya Manusia Badan Usaha Milik Negara dan Peraturan OJK No. PER-3/MBU/03/2023 concerning the Organs and Human
No.33/POJK.04/2014 tentang Direksi dan Dewan Komisaris. Resources of State-Owned Enterprises and the Financial Services
Dewan Komisaris BUMN dapat merangkap jabatan sebagai Authority (OJK) Regulation No. 33/POJK.04/2014 concerning
Dewan Komisaris pada badan usaha lainnya mengacu pada the Board of Directors and the Board of Commissioners. The
ketentuan peraturan Perundang-undangan sektoral. Board of Commissioners of a State-Owned Enterprise may
concurrently hold positions as Commissioners in other business
entities, in accordance with sectoral laws and regulations.
PT Pertamina Geothermal Energy Tbk
Page 360
358 Laporan Tahunan 2025 | 2025 Annual Report
Anggota Dewan Komisaris dan Direksi dilarang memiliki jabatan Members of the Board of Commissioners and the Board of
rangkap sebagai: Directors are prohibited from holding concurrent positions as:
1. Anggota Direksi pada Badan Usaha Milik Daerah, Badan 1. Members of the Board of Directors in Regionally-Owned
Usaha Milik Swasta; Enterprises or Privately-Owned Enterprises;
2. Pengurus partai politik dan/atau anggota legislatif; 2. Political party administrators and/or members of the
legislature;
3. Jabatan lainnya sesuai dengan ketentuan dalam peraturan 3. Other positions in accordance with statutory provisions; or
perundang-undangan; atau
4. Jabatan lainnya yang dapat menimbulkan benturan 4. Other positions that may create a direct or indirect conflict
kepentingan secara langsung atau tidak langsung dengan of interest with the Company in accordance with applicable
Perseroan sesuai dengan ketentuan peraturan perundang- laws and regulations.
undangan yang berlaku.
Seluruh anggota Dewan Komisaris dan Direksi Perseroan tidak All members of the Company’s Board of Commissioners and
memiliki rangkap jabatan yang tidak diperkenankan ketentuan Board of Directors do not hold concurrent positions prohibited by
dan peraturan. the provisions and regulations.
Tabel Rangkap Jabatan Dewan Komisaris
Table of Concurrent Positions of the Board of Commissioners
Nama Jabatan Jabatan pada Perusahaan/Institusi Lain Nama Perusahaan /Institusi Lain
Name Position Positions in Other Company/Institution Name of Other Company/Institution
Gigih Udi Atmo Komisaris Utama Direktur Panas Bumi Direktorat Jenderal Energi Baru, Terbarukan
President Commissioner Director of Geothermal dan Konservasi Energi (EBTKE), Kementerian
ESDM
Directorate General of New, Renewable
Energy and Energy Conservation (EBTKE),
Ministry of Energy and Mineral Resources
John Anis Komisaris Chief Executive Officer PT Pertamina Power Indonesia
Commissioner
Mohammad Firmansyah Komisaris Independen Tidak ada Tidak ada
Independent None None
Commissioner
Abdul Musawir Yahya Komisaris Independen Tidak ada Tidak ada
Independent None None
Commissioner
Abdulla Zayed Komisaris Director, Development & Investment Masdar
Commissioner (Asia & Africa)
Tabel Rangkap Jabatan Direksi
Table of Concurrent Positions of the Board of Directors
Nama Jabatan Jabatan pada Perusahaan/Institusi Lain Nama Perusahaan /Institusi Lain
Name Position Positions in Other Company/Institution Name of Other Company/Institution
Direktur Utama Tidak ada Tidak ada
Julfi Hadi*)
President Director None None
Direktur Tidak ada Tidak ada
Edwil Suzandi
Director None None
Direktur Tidak ada Tidak ada
Ahmad Yani
Director None None
Direktur Tidak ada Tidak ada
Yurizko Rio
Director None None
*) Mengundurkan diri efektif per tanggal 20 Januari 2026 | Resigned effective January 20, 2026
Informasi rangkap jabatan anggota Dewan Komisaris dan Information on concurrent positions held by members of the Board
Direksi juga diungkapkan pada bagian Profil Dewan Komisaris of Commissioners and Board of Directors is also disclosed in the
dan Profil Direksi dalam Bab Profil Perusahaan pada Laporan Profile of the Board of Commissioners and Board of Directors
Tahunan ini. sections in the Company Profile chapter of this Annual Report.
PT Pertamina Geothermal Energy Tbk
Page 361
Laporan Tahunan 2025 | 2025 Annual Report 359
PT Pertamina Geothermal Energy Tbk
Page 362
360 Laporan Tahunan 2025 | 2025 Annual Report
Pengelolaan Benturan
Kepentingan Dewan
Komisaris dan Direksi
Management of Conflict of Interests for The Board of Commissioners
and Board of Directors
Perseroan mengatur ketentuan larangan benturan kepentingan The Company regulates provisions prohibiting conflicts of interest
Dewan Komisaris dan Direksi pada Code of Conduct (CoC), Code for the Board of Commissioners and Board of Directors in the
of Corporate Governance (CoCG) dan Board Manual Perseroan. Code of Conduct (CoC), Code of Corporate Governance (CoCG),
Anggota Dewan Komisaris dan Direksi wajib mematuhi ketentuan and the Company's Board Manual. Members of the Board of
untuk mencegah terjadinya benturan kepentingan, antara lain Commissioners and Board of Directors are required to comply
sebagai berikut: with the provisions to prevent conflicts of interest, including the
following:
1. Dilarang melakukan transaksi yang mempunyai benturan 1. They are prohibited from engaging in transactions that have
kepentingan dan mengambil keuntungan pribadi dari a conflict of interest and from taking personal advantage
kegiatan Perseroan, selain honorarium dan tunjangan/ from Company activities, other than the honorarium and
fasilitas yang diterimanya sebagai Anggota Dewan Komisaris allowances/facilities received as members of the Board of
dan Direksi yang ditentukan oleh RUPS. Commissioners and Board of Directors as determined by the
GMS.
2. Menyampaikan pernyataan tidak berbenturan kepentingan 2. They must submit a statement stating that they have no conflict
dalam pelaksanaan tugas dan kewenangannya pada awal of interest in carrying out their duties and authorities at the
Pengangkatan yang diperbaharui setiap awal tahun. beginning of their appointment, which is renewed at the
beginning of each year.
3. Tidak memanfaatkan jabatan bagi kepentingan pribadi atau 3. They must not exploit their position for personal gain or for the
bagi kepentingan orang atau pihak lain yang terkait yang benefit of other related parties or individuals that conflict with
bertentangan dengan kepentingan Perseroan. the interests of the Company.
4. Menghindari setiap aktivitas yang dapat mempengaruhi 4. They must avoid any activity that could affect their
independensi dalam melaksanakan tugas. independence in carrying out their duties.
5. Melakukan pengungkapan dalam hal terjadi benturan 5. Disclosure of any conflict of interest, and the individual
kepentingan, dan yang bersangkutan tidak boleh melibatkan concerned shall refrain from any involvement in the
diri dalam proses pengambilan Keputusan Perseroan yang Company's decision-making process related to such matter.
berkaitan dengan hal tersebut.
Selama tahun 2025, tidak terdapat kondisi benturan kepentingan In 2025, there were no incidents of conflict of interest involving
yang melibatkan anggota Dewan Komisaris dan Direksi members of the Company's Board of Commissioners and Board
Perseroan. of Directors.
PT Pertamina Geothermal Energy Tbk
Page 363
Laporan Tahunan 2025 | 2025 Annual Report 361
Kebijakan Pengungkapan
Kepemilikan Saham
Share Ownership Disclosure Policy
Sebagai bagian dari penerapan aspek transparansi dalam As part of transparency implementation within the principles of
prinsip-prinsip tata Kelola perusahaan, seluruh anggota Dewan corporate governance, all members of the Board of Commissioners
Komisaris dan Direksi wajib mengungkapkan kepemilikan saham and the Board of Directors are required to disclose their share
dan/atau keluarganya di Perseroan maupun Perusahaan/institusi ownership and/or that of their family members in the Company
lain. Ketentuan pengungkapan kepemilikan saham Dewan and other companies/institutions. The provisions for disclosing
Komisaris diatur dalam Board Manual, antara lain: share ownership for the Board of Commissioners are regulated in
the Board Manual, including:
1. Anggota Dewan Komisaris dan Direksi wajib mengisi Daftar 1. Members of the Board of Commissioners and the Board
Khusus yang memuat informasi mengenai kepemilikan of Directors are required to complete a Special Register
sahamnya dan/atau keluarganya (pasangan dan anak containing information regarding their share ownership and/
cukup umur) di Perseroan maupun perusahaan lain, termasuk or that of their family members (spouse and legal children) in
setiap perubahan kepemilikan saham tersebut. the Company and other companies, including any changes in
share ownership.
2. Penyampaian informasi di atas wajib dilakukan setiap 2. Submission of the above information is mandatory upon any
adanya perubahan kepemilikan saham paling lambat 3 changes in share ownership no later than 3 (three) business
(tiga) hari kerja setelah terjadinya kepemilikan atau setiap days after any change in ownership of shares in the Company,
perubahan kepemilikan atas saham Perseroan sesuai dengan in accordance with applicable laws and regulations.
ketentuan peraturan perundangan yang berlaku.
3. Anggota Dewan Komisaris dan Direksi wajib melakukan 3. Members of the Board of Commissioners and the Board
pelaporan atas transaksi saham serta perubahan kepemilikan of Directors are required to report share transactions and
saham Perseroan kepada Sekretaris Perusahaan, dan Fungsi changes in share ownership to the Corporate Secretary, and
Legal & Compliance untuk kemudian dilaporkan kepada Legal & Compliance Function that will be submited to the
Bursa Efek Indonesia (BEI) dan OJK. Indonesia Stock Exchange (IDX) and the Financial Services
Authority (OJK).
Informasi mengenai kepemilikan saham Perseroan oleh Dewan Information regarding the Board of Commissioners' share
Komisaris disajikan pada bab Profil Perusahaan dalam Laporan ownership of the Company is presented in the Company Profile
Tahunan ini. section of this Annual Report.
PT Pertamina Geothermal Energy Tbk
Page 364
362 Laporan Tahunan 2025 | 2025 Annual Report
Keberagaman Komposisi Dewan
Komisaris dan Direksi
Diversity of the Board of Commissioners and Board of Directors
Keberagaman komposisi Dewan Komisaris dan Direksi mengacu The diversity of the composition of the Board of Commissioners
pada Surat Edaran Otoritas Jasa Keuangan Nomor 32/ and Board of Directors refers to Financial Services Authority
SEOJK.04/2015 tentang Pedoman Tata Kelola Perusahaan Circular Letter No. 32/SEOJK.04/2015 concerning Guidelines
Terbuka dan Asean Corporate Governance Scorecard yang for Public Company Governance and the ASEAN Corporate
ditetapkan oleh Asean Capital Market Forum (ACMF). Governance Scorecard established by the ASEAN Capital
Market Forum (ACMF).
Dalam proses pengangkatan Dewan Komisaris dan Direksi, In the process of appointing the Board of Commissioners and
Perseroan telah mempertimbangkan dan memenuhi faktor Board of Directors, the Company has considered and complied
keberagaman yang meliputi latar belakang pengalaman, with diversity factors, including background, experience,
pendidikan, keahlian dan usia. Anggota Dewan Komisaris dan education, expertise, and age. Members of the PGE Board of
Direksi PGE memiliki keahlian dan pengalaman di bidang bisnis Commissioners and Board of Directors possess expertise and
manajemen dan Energi Baru Terbarukan (EBT) yang menjadi experience in business management and New and Renewable
bisnis inti PGE. Energy (NRE), PGE's core business.
Keberagaman komposisi Dewan Komisaris dan Direksi dapat The diversity of the composition of the Board of Commissioners
dilihat pada tabel sebagai berikut: and Board of Directors can be seen in the following table:
Aspek
Dewan Komisaris Direksi
No. Keberagaman
Board of Commissioners Board of Directors
Diversity Aspect
1 Usia Usia 32–40 tahun: 2 orang Usia 35–40 tahun: 0 orang
Age Usia 41–60 tahun: 3 orang Usia 41–60 tahun: 4 orang
Usia 60–70 tahun: 0 orang Usia 60–70 tahun: 0 orang
Ages 32–40: 2 people Ages 32–40: 2 people
Ages 41–60: 3 people Ages 41–60: 4 people
Ages 60–70: 0 people Ages 60–70: 0 people
2 Pendidikan Jenjang pendidikan meliputi Sarjana, Magister, dan Doktor Jenjang pendidikan meliputi Magister, dengan berbagai
Education dengan berbagai bidang pendidikan, yaitu Ekonomi, Bisnis, bidang pendidikan, yaitu Ekonomi, Bisnis, Teknik, Sains,
Teknik, Hukum, Sains, dan Energi. dan Energi.
Educational levels include Bachelor, Master, and Doctorate Educational levels include Masters, with various fields
degrees in various fields of education, namely Economics, of education, namely Economics, Business, Engineering,
Business, Engineering, Law, Science, and Energy. Science, and Energy.
3 Pengalaman Kerja Anggota Dewan Komisaris memiliki pengalaman kerja sebagai Anggota Direksi memiliki pengalaman kerja
Work Experience Direksi atau menduduki posisi strategis pada perusahaan sebagai Direksi atau menduduki posisi strategis
BUMN/instansi pemerintah dan perusahaan swasta pada perusahaan BUMN/instansi pemerintah dan
Members of the Board of Commissioners have work experience perusahaan swasta
as Board of Directors or holding strategic positions in Members of the Board of Directors have work
state-owned companies/government agencies and private experience as Board of Directors or holding strategic
companies. positions in state-owned companies/government
agencies and private companies.
4 Keahlian Anggota Dewan Komisaris memiliki keahlian yang relevan Anggota Direksi memiliki keahlian yang relevan dan
Expertise dan beragam sesuai dengan kebutuhan Perseroan yaitu di beragam sesuai dengan kebutuhan Perseroan yaitu
bidang teknologi, energi, keuangan, tata kelola perusahaan, di bidang teknologi, energi, keuangan, tata kelola
manajemen risiko, dan hukum perusahaan, dan manajemen risiko
Members of the Board of Commissioners have relevant and Members of the Board of Directors have relevant and
diverse expertise according to the Company's needs, namely in diverse expertise according to the Company's needs,
the fields of technology, energy, finance, corporate governance, namely in the fields of technology, energy, finance,
risk management and law. corporate governance and risk management.
PT Pertamina Geothermal Energy Tbk
Page 365
Laporan Tahunan 2025 | 2025 Annual Report 363
Sekretaris Dewan Komisaris
Secretary to The Board of Commissioners
Sekretaris Dewan Komisaris merupakan organ yang mendukung The Secretary of the Board of Commissioners is the body that
pelaksanaan tugas Dewan Komisaris dan diangkat oleh supports the implementation of the Board of Commissioners' duties
Dewan Komisaris. Sekretaris Dewan Komisaris memimpin dan and is appointed by the Board of Commissioners. The Secretary of
melaksanakan fungsi sekretariat Dewan Komisaris. Sekretaris the Board of Commissioners leads and carries out the secretariat
Dewan Komisaris dijabat oleh Ibu Anna Muslikhah Jamil functions of the Board of Commissioners. The Secretary of the
berdasarkan Surat Keputusan Dewan Komisaris Nomor Kpts- Board of Commissioners is Mrs. Anna Muslikhah Jamil, based
024/DK/PGE/2023-S0 tanggal 20 September 2023. on the Decree of the Board of Commissioners Number Kpts-024/
DK/PGE/2023-S0 dated September 20, 2023.
Profil Sekretaris Dewan Komisaris Profile of the Secretary of the Board of
the Board of Commissioners
Usia | Age 48 tahun | 48 years old
Kewarganegaraan Indonesia | Indonesian
Nationality
Domisili | Domicile Tangerang Selatan| South Tangerang
Riwayat Pendidikan • Magister, Manajemen Strategis dari Sekolah Bisnis IPB (2019)
Educational Background • Sarjana, Teknologi Hasil Perikanan dari Universitas Brawijaya
(1999)
• Master’s Degree in Strategic Management from IPB Business
School (2019)
• Bachelor’s Degree in Fishery Product Technology from Brawijaya
University (1999)
Pengalaman Kerja • Analisis Pengelola Keuangan APBN Muda - Kementerian Badan
Work Experience Usaha Milik Negara (2020-sekarang)
• Sekretaris Dewan Komisaris - PT Pindad (2018-2023)
• Sekretaris Dewan Komisaris - PT Perusahaan Perdagangan
Indonesia (2016-2018)
• Kepala Subbagian Perbendaharaan- Kementerian Badan Usaha
Milik Negara (2015-2020)
• Kepala Subbagian Akuntansi - Kementerian Badan Usaha Milik
Negara (2014-2015)
• Sekretaris Dewan Komisaris - PT Berdikari ( 2013-2015)
• Kepala Subbagian Perbendaharaan - Kementerian Badan
Usaha Milik Negara (2011-2014)
• Junior State Budget Financial Management Analyst - Ministry of
State-Owned Enterprises (2020 – present)
• Secretary to the Board of Commissioners - PT Pindad
(2018-2023)
• Secretary to the Board of Commissioners - PT Perusahaan
Perdagangan Indonesia (2016-2018)
• Head of the Treasury Subdivision - Ministry of State-Owned
Enterprises (2015-2020)
• Head of the Accounting Subdivision - Ministry of State-Owned
Enterprises (2014-2015)
• Secretary to the Board of Commissioners - PT Berdikari (2013-
2015)
• Head of the Treasury Subdivision - Ministry of State-Owned
Enterprises (2011-2014)
Rangkap Jabatan Analisis Pengelola Keuangan Anggaran Pendapatan dan Belanja
Concurrent Positions Negara Muda - Kementerian Badan Usaha Milik Negara
(2020-sekarang)
Junior Analyst of the Financial Management of the State Revenue
Anna Muslikhah and Expenditure Budget - Ministry of State-Owned Enterprises
Jamil (2020-present)
Sekretaris Dewan Komisaris Hubungan Afiliasi Tidak memiliki hubungan afiliasi dengan anggota Dewan
Secretary of the Board of the Board of Affiliate Relations Komisaris, Direksi dan Pemegang Saham Pengendali
Commissioners Does not have affiliated relationships with members of the Board of
Commissioners, Board of Directors, and Controlling Shareholders
Sertifikasi Certified Risk Professional (CRP®) (2025)
Certification
PT Pertamina Geothermal Energy Tbk
Page 366
364 Laporan Tahunan 2025 | 2025 Annual Report
Tugas dan Tanggung Jawab Sekretaris Duties and Responsibilities of the
Dewan Komisaris Secretary to the Board of Commissioners
Sekretaris Dewan Komisaris secara umum bertanggung jawab The Secretary to the Board of Commissioners is generally
atas penyelenggaraan kegiatan di bidang kesekretariatan dalam responsible for organizing secretarial activities within the Board
lingkungan Dewan Komisaris untuk keperluan Dewan Komisaris of Commissioners for the purposes of the Board of Commissioners
dan komite-komitenya. Berikut tugas dan tanggung jawab and its committees. The following are the duties and responsibilities
Sekretaris Dewan Komisaris, antara lain: of the Secretary to the Board of Commissioners:
1. Menyediakan informasi untuk kebutuhan Dewan Komisaris 1. Providing information needed by the Board of Commissioners
dalam rangka pengambilan keputusan. for decision-making.
2. Menyiapkan bahan-bahan/materi rapat Dewan Komisaris, 2. Preparing materials for Board of Commissioners meetings,
hal-hal yang perlu mendapat keputusan Dewan Komisaris dan matters requiring a decision by the Board of Commissioners,
materi yang diperlukan sehubungan dengan pelaksanaan and other materials necessary for the implementation of the
tugas Dewan Komisaris. Board of Commissioners' duties.
3. Menyiapkan dan mengkoordinasikan agenda rapat dengan 3. Preparing and coordinating meeting agendas with the parties
pihak-pihak yang hadir dalam rapat serta menyampaikan attending the meeting and issuing meeting invitations.
undangan rapat.
4. Melakukan konfirmasi mengenai waktu, tempat, kehadiran, 4. Confirming the time, place, attendance, and other matters
serta hal-hal lain yang dipandang perlu demi kelancaran deemed necessary for the smooth running of the meeting.
rapat.
5. Menyelenggarakan pertemuan atau rapat Dewan Komisaris, 5. Organizing Board of Commissioners meetings, both internal
baik pertemuan atau rapat internal Dewan Komisaris maupun meetings with the Board of Commissioners and with the
dengan Direksi dan jajarannya serta pihak-pihak lainnya. Board of Directors and its staff, as well as meetings with other
parties.
6. Membuat Risalah Rapat Dewan Komisaris dan menyampaikan 6. Preparing minutes of Board of Commissioners meetings and
risalah rapat kepada pihak-pihak yang berkepentingan. disseminating these minutes to the relevant parties.
7. Menyiapkan pertimbangan-pertimbangan, pendapat, saran- 7. Prepare considerations, opinions, recommendations,
saran dan keputusan lainnya dari Dewan Komisaris untuk and other decisions of the Board of Commissioners for
para pemegang saham, Direksi dan pihak-pihak yang terkait shareholders, the Board of Directors, and parties related to
dengan pengelolaan Perseroan. the management of the Company.
8. Mencatat setiap keputusan Dewan Komisaris yang dihasilkan 8. Record every resolution of the Board of Commissioners
dalam forum-forum pengambilan keputusan dan penanggung made in decision-making forums and determine the person
jawab atas tindak lanjut keputusan tersebut serta memantau responsible for the follow-up of these resolutions as well as
progres pelaksanaannya. monitor the progress of their implementation.
9. Melaksanakan dan mengkoordinasikan kegiatan tata 9. Implement and coordinate correspondence and archiving
persuratan dan kearsipan. activities.
10. Melaksanakan dan mengkoordinasikan pengamanan 10. Implement and coordinate the security of data and documents
atas data dan dokumen dokumen yang berada dalam within the control/scope of the Board of Commissioners.
penguasaan/lingkup kerja Dewan Komisaris.
11. Memastikan bahwa Dewan Komisaris mematuhi peraturan 11. Ensure that the Board of Commissioners complies with laws
perundang-undangan serta menerapkan prinsip tata kelola and regulations and implements the principles of good
perusahaan yang baik. corporate governance.
12. Memberikan informasi yang dibutuhkan oleh Dewan 12. Provide information needed by the Board of Commissioners
Komisaris secara berkala dan/atau sewaktu-waktu apabila periodically and/or at any time upon request.
diminta.
13.Sebagai penghubung (liaison officer) Dewan Komisaris 13. Serve as a liaison officer between the Board of Commissioners
dengan pihak lain. and other parties.
PT Pertamina Geothermal Energy Tbk
Page 367
Laporan Tahunan 2025 | 2025 Annual Report 365
Pengembangan Kompetensi Sekretaris Competency Development for the
Dewan Komisaris Secretary of the Board of Commissioners
Topik Pelatihan/Sosialisasi/Seminar Penyelenggara Tanggal
Training/Socialization/Seminar Topics Organizer Date
Abu Dhabi Sustainability Week (ADSW) 2025 Masdar 14-16 Januari 2025
14-16 January 2025
Comprehensive Professional Training Program for Certified Risk RWI Consulting – PT Jagad Prima Mandiri 11 Juli 2025
Professional (CRP®) 11 July 2025
Sinergi Pengawasan dan Evaluasi Laporan Keuangan PGE, PT. Transformasi Inovasi Manajemen & 24 November 2025
Benchmarking Industri Geothermal dengan Perusahaan Sejenis di Universitas Padjadjaran
Indonesia dan Global (Filipina)
Synergy of Supervision and Evaluation of PGE Financial Statements,
Benchmarking the Geothermal Industry with Similar Companies in
Indonesia and Globally (Philippines)
Dinamika Pergantian Pengurus dari Aspek Hukum, Transparansi, PT. Transformasi Inovasi Manajemen 1 Desember 2025
dan Keberlangsungan Bisnis PT PGE Tbk 1 December 2025
Dynamics of Management Changes from the Legal, Transparency,
and Business Sustainability Aspects of PT PGE Tbk
Laporan Pelaksanaan Tugas Sekretaris Report on the Implementation of
Dewan Komisaris Duties of the Secretary of the Board of
Commissioners
Selama tahun 2025, Sekretaris Dewan Komisaris telah In 2025, the Secretary of the Board of Commissioners performed
melaksanakan tugasnya sebagai berikut: the following duties:
1. Mempersiapkan, mengkoordinasikan dan korespondensi 1. Prepared, coordinated, and maintained correspondence
pelaksanaan rapat sebagai berikut: regarding the implementation of the following meetings:
Rapat Jumlah Rapat
Meeting Number of Meeting
Rapat internal Dewan Komisaris
20
Internal meetings of the Board of Commissioners
Rapat gabungan Dewan Komisaris dan Direksi
12
Joint meetings of the Board of Commissioners and the Board of Directors
Rapat dengan fungsi terkait/Komite/Dewan Komisaris
52
Meetings with related functions/Committees/Board of Commissioners
2. Pendampingan, liaison officer dan kegiatan Dewan Komisaris 2. Assistancy, liaison officer, and other Board of Commissioners
lainnya: activities:
• Pendampingan Dewan Komisaris dan Komite dalam • Assisting the Board of Commissioners and Committees in
5 kali agenda site visit. 5 (five) site visits.
• Mengikuti program peningkatan kompetensi sebanyak • Participating in 9 (nine) competency improvement
9 kali. programs.
• Pendampingan dan dukungan dokumen Rapat Umum • Assisting and supporting documents for the General
Pemegang Saham (RUPS): RUPSLB Tahun 2025 tanggal Meeting of Shareholders (GMS): the 2025 EGMS dated
20 Agustus 2025 dan RUPST Tahun Buku 2024 tanggal 20 August 2025, and the 2024 Financial Year Annual
3 Juni 2025. GMS dated 3 June 2025.
PT Pertamina Geothermal Energy Tbk
Page 368
366 Laporan Tahunan 2025 | 2025 Annual Report
Sekretaris Perusahaan
Corporate Secretary
Sebagaimana diatur dalam Peraturan Otoritas Jasa Keuangan As stipulated in Financial Services Authority Regulation No. 35/
No.35/POJK.04/2014 tentang Sekretaris Perusahaan Emiten POJK.04/2014 concerning the Corporate Secretary of Issuers
atau Perusahaan Publik,Perusahaan Publik wajib memiliki or Public Companies, a public company is required to have a
fungsi sekretaris perusahaan yang diangkat dan diberhentikan corporate secretary function appointed and dismissed based on
berdasarkan keputusan Direksi. Sekretaris Perusahaan a resolution of the Board of Directors. The Corporate Secretary
bertanggung jawab langsung kepada Direktur Utama. reports directly to the President Director.
Corporate Secretary atau Sekretaris Perusahaan adalah bagian The Corporate Secretary is part of the Company’s governance
dari organ tata kelola perusahaan yang bertanggung jawab structure and is responsible for the work unit that performs the
atas unit kerja yang menjalankan fungsi sekretaris perusahaan. corporate secretary function. The corporate secretary function
Fungsi sekretaris perusahaan dibagi menjadi Fungsi Manager is divided into the Manager of Corporate Communication &
Corporate Communication & Fungsi Manager Corporate Corporate Communications Manager and the Manager of
Commincation & CSR dan Manager BOD & Corporate Support Corporate & BOD Support.
dan Manager Corporate & BOD Support.
Profil Sekretaris Perusahaan Corporate Secretary Profile
Usia | Age 45 tahun | 45 years old
Kewarganegaraan Indonesia | Indonesian
Citizenship
Domisili | Domicile Jakarta
Riwayat Pendidikan Sarjana Komunikasi, Universitas Padjadjaran (1997 - 2001)
Educational Background
Bachelor’s Degree in Communication, Padjadjaran University
(1997 - 2001)
Pengalaman Kerja • Corporate Secretary - PT Pertamina Geothermal Energy Tbk
Work Experience (2023 - sekarang)
• Manager Internal Communication - PT Pertamina (Persero)
(2020-2023)
• Senior Officer Board Strategy Support - PT Pertamina (Persero)
(2018-2020)
• Assistant Manager Board Strategy Support & Corporate Data -
PT Pertamina (Persero) (2018)
Rangkap Jabatan Tidak memiliki rangkap jabatan
Concurrent Positions
No Concurrent Positions
Hubungan Afiliasi Tidak memiliki hubungan afiliasi baik dengan anggota Direksi,
Affiliate Relations anggota Dewan Komisaris lainnya, maupun dengan pemegang
saham pengendali dan utama
Does not have any affiliations with members of the Board of
Directors, or fellow members of the Board of Commissioners, nor
with the controlling and ultimate shareholders.
Sertifikasi • Sertifikasi Kompetensi - Qualified Risk Management
Certification Professional (QRMP) – Jakarta (2025)
• Sertifikasi Kehumasan (2018)
• Competency Certification - Qualified Risk Management
Professional (QRMP) – Jakarta (2025)
• Public Relations Certification (2018)
Kitty Andhora
Sekretaris Perusahaan
Corporate Secretary
PT Pertamina Geothermal Energy Tbk
Page 369
Laporan Tahunan 2025 | 2025 Annual Report 367
Tugas, dan Tanggung Jawab Fungsi Duties and Responsibilities of the
Sekretaris Perusahaan Corporate Secretary Function
Secara umum, Fungsi Sekretaris Perusahaan adalah memberikan In general, the Corporate Secretary Function is responsible
masukan kepada Direksi dan Dewan Komisaris dalam rangka for providing input to the Board of Directors and the Board of
mematuhi ketentuan peraturan perundang undangan di bidang Commissioners in order to ensure compliance with prevailing
Pasar Modal dan membantu Direksi dan Dewan Komisaris dalam laws and regulations in the Capital Market sector, as well as
pelaksanaan tata kelola perusahaan. Sekretaris Perusahaan assisting the Board of Directors and the Board of Commissioners
juga berperan sebagai penghubung antara Perseroan dengan in the implementation of corporate governance practices. The
pemegang saham, Otoritas Jasa Keuangan, dan pemangku Corporate Secretary also serves as a liaison between the
kepentingan lainnya. Company and its shareholders, the Financial Services Authority,
and other stakeholders.
Berdasarkan peran dan tugas pokok di atas, berikut tugas dan Based on the roles and core duties described above, the
tanggung jawab Sekretaris Perusahaan di Perseroan PGE: following are the duties and responsibilities of the Corporate
Secretary within PGE:
1. Membangun, mengendalikan dan meningkatkan citra, 1. Developing, managing, and enhancing the Company’s
identitas serta branding perusahaan secara korporat sesuai corporate image, identity, and branding in accordance with
visi, misi dan nilai Perseroan. the Company’s vision, mission, and values.
2. Menetapkan kebijakan dan program kerja serta 2. Establishing policies and work programs, as well as
mengarahkan, mengkoordinasikan dan mengendalikan directing, coordinating, and controlling public relations and
kegiatan kehumasan dan CSR untuk mendapatkan dukungan Corporate Social Responsibility (CSR) activities to obtain
pemangku kepentingan terhadap kegiatan operasional stakeholder support for the Company’s operational activities
perusahaan agar dapat membangun citra positif Perseroan. and to build a positive corporate image.
3. Merumuskan kebijakan dan program kerja, serta 3. Formulating policies and work programs, and directing,
mengarahkan, mengkoordinasikan dan mengendalikan coordinating, and controlling the management and
kegiatan pengelolaan dan pembinaan hubungan serta development of relationships and communications with
komunikasi dengan pemangku kepentingan (internal dan stakeholders (both internal and external) and shareholders
eksternal) dan pemegang saham untuk memastikan terjadinya to ensure synergy in supporting the implementation of the
sinergi dalam rangka menunjang pelaksanaan kegiatan Company’s operational activities.
operasi Perseroan.
4. Mengarahkan, mengkoordinasikan dan mengendalikan 4. Directing, coordinating, and controlling the role of facilitator
peran sebagai fasilitator Direksi, di antaranya dalam hal for the Board of Directors, including in relation to orientation
program orientasi Direksi, pengelolaan rapat dan notulen programs for the Board of Directors, management of Board
rapat Direksi, pengelolaan keputusan Direksi, pembuatan of Directors meetings and meeting minutes, management
materi korporat untuk Direksi, pemberian saran dan masukan of Board of Directors’ resolutions, preparation of corporate
strategis kepada Direksi, serta menjadi juru bicara Direksi materials for the Board of Directors, provision of strategic
untuk memastikan komunikasi yang efektif antara Direksi, advice and input to the Board of Directors, and serving
Dewan Komisaris, pemegang saham dan seluruh fungsi di as the spokesperson for the Board of Directors to ensure
Perseroan. effective communication between the Board of Directors,
the Board of Commissioners, shareholders, and all functions
within the Company.
5. Mengkoordinasikan dan memastikan penyelenggaraan RUPS 5. Coordinating and ensuring the organization of the General
beserta pengesahan hasil atau keputusan RUPS. Meeting of Shareholders (GMS), including the ratification of
the results or resolutions of the GMS.
6. Mengkoordinasikan, mengusulkan dan mengendalikan 6. Coordinating, proposing, and controlling the authority
threshold kewenangan Dewan Komisaris. threshold of the Board of Commissioners.
7. Memastikan tersedia dan terlaksananya pedoman dan 7. Ensuring the availability and implementation of GCG
standar GCG termasuk tersedianya Board Manual, Code of guidelines and standards, including the availability of
Corporate Governance, dan Governance Report. the Board Manual, Code of Corporate Governance, and
Governance Report.
8. Mengkoordinasikan penyusunan/pembuatan dan 8. Coordinating the preparation and submission of the
penyampaian pelaporan Perseroan kepada pihak-pihak Company’s reports to relevant parties, including governance
terkait, antara lain governance & compliance report, laporan and compliance reports, as well as reports to capital market
kepada regulator pasar modal seperti OJK dan Bursa Efek regulators such as the Financial Services Authority (OJK)
Indonesia (BEI). and the Indonesia Stock Exchange (IDX).
PT Pertamina Geothermal Energy Tbk
Page 370
368 Laporan Tahunan 2025 | 2025 Annual Report
9. Menyusun, mengkoordinasikan dan memastikan 9. Preparing, coordinating, and ensuring the implementation
terlaksananya event/protocol management di lingkungan of event and protocol management within the Company.
Perseroan.
10. Bertindak sebagai narahubung (contact person) antara 10. Acting as a contact person between the Company and
Perseroan dengan regulator pasar modal, pemegang saham capital market regulators, shareholders, and the public.
dan masyarakat.
11. Mengelola dan memastikan tersedianya layanan data 11. Managing and ensuring the availability of data services and
dan manajemen keterbukaan dan akses publik terhadap the management of public disclosure and public access to
Perseroan. information concerning the Company.
12. Mengikuti perkembangan pasar modal khususnya peraturan 12. Monitoring developments in the capital market, particularly
perundang-undangan yang berlaku di bidang pasar modal prevailing laws and regulations in the capital market
dan memastikan kepatuhan Perseroan terhadap peraturan di sector, and ensuring the Company’s compliance with such
bidang pasar modal. regulations.
13. Memberikan masukan kepada Direksi dan Dewan Komisaris 13. Providing input to the Board of Directors and the Board of
PGE untuk mematuhi ketentuan peraturan perundang- Commissioners of PGE to ensure compliance with applicable
undangan di bidang pasar modal. capital market regulations.
14. Menangani masalah-masalah terkait perizinan untuk studi 14. Handling matters related to licensing for studies and the
dan pengembangan area baru. development of new areas.
15. Mengkoordinasikan penyusunan laporan manajemen seperti, 15. Coordinating the preparation of management reports,
Laporan Bulanan. including Monthly Report.
Pengembangan Kompetensi Sekretaris Perusahaan
Competency Development of Corporate Secretary Division
Pelatihan Penyelenggara Tanggal
Training Organizer Date
Awareness Integrated Management System (IMS) ISO 9001, 14001, PT Pertamina Geothermal Energy Tbk 13-14 Januari 2025
45001 13-14 January 2025
Pelatihan Awareness ISO 37001:2016 PT Pertamina Geothermal Energy Tbk 21-22 Januari 2025
Awareness Training on ISO 37001:2016 21-22 January 2025
Pelatihan Media Handling Kiroyan Partner 13 Februari 2025
Media Handling Training 13 February 2025
Webinar “Communication Evaluation: Measuring the Impact of Indonesia Corporate Secretary Association 24 April 2025
Communications to Stakeholders” (ICSA)
Certified Risk Professional (CRP) PT Pertamina Geothermal Energy Tbk 26 Mei-6 Juni 2025
26 May-6 June 2025
Upskilling Executive Leader Competencies (ELC) Pertamina Corporate University 21 Agustus 2025
21 August 2025
Performance Leader Competencies (PLC) Pertamina Corporate University 22 Juli 2025
22 July 2025
Merger & Acquisition pada Perusahaan Terbuka: Strategi, Regulasi, Indonesia Corporate Secretary Association 10 September 2025
dan Peran Corporate Secretary (ICSA)
Merger & Acquisition in Public Companies: Strategy, Regulation, and
the Role of the Corporate Secretary
Indonesia International Geothermal Convention & Exhibition (IIGCE) Asosiasi Panas Bumi Indonesia 17-19 September 2025
2025 - Jakarta
Pelatihan Tata Kelola Corporate Social Responsibility Social Development Studies Center 24 September 2025
Corporate Social Responsibility Governance Training (SODEC) Universitas Gadjah Mada
Webinar "Pendalaman Peraturan Otoritas Jasa Keuangan Nomor Indonesia Corporate Secretary Association 2 Desember 2025
42 Tahun 2020 tentang Transaksi Afiliasi dan Transaksi Benturan (ICSA) 2 December 2025
Kepentingan"
Webinar “In-Depth Review of Financial Services Authority Regulation
No. 42 of 2020 concerning Affiliated Transactions and Conflict of
Interest Transactions”
Webinar "Peraturan Bursa I-A Pencatatan Saham dan Efek Bersifat Indonesia Corporate Secretary Association 9 Desember 2025
Ekuitas Selain Saham yang Diterbitkan oleh Perusahaan Tercatat" (ICSA) 9 December 2025
Webinar “IDX Regulation I-A on the Listing of Shares and Equity
Securities Other than Shares Issued by Listed Companies”
PT Pertamina Geothermal Energy Tbk
Page 371
Laporan Tahunan 2025 | 2025 Annual Report 369
Pelaksanaan Kegiatan Sekretaris Implementation of Corporate Secretary
Perusahaan Tahun 2025 Activities in 2025
Pelaksanaan kegiatan Sekretaris Perusahaan sepanjang tahun The implementation of Corporate Secretary activities throughout
2025 antara lain: 2025 included the following:
• Menyelenggarakan RUPS Tahunan Tahun buku 2024 pada • Organizing the Annual General Meeting of Shareholders for
tanggal 3 Juni 2025 dan RUPS Luar B pada tanggal 20 the 2024 financial year on 3 June 2025 and the Extraordinary
Agustus 2025. General Meeting of Shareholders on 20 August 2025.
• Mempersiapkan dan mendokumentasikan 33 Rapat Internal • Preparing and documenting 33 internal meetings of the
Direksi. Board of Directors.
• Mempersiapkan, mendokumentasikan, dan • Preparing, documenting, and coordinating 12 joint meetings
mengkoordinasikan 12 Rapat Gabungan Direksi dan Dewan of the Board of Directors and the Board of Commissioners in
Komisaris dengan Sekretaris Dewan Komisaris. coordination with the Secretary of the Board of Commissioners.
• Menyampaikan 4 (empat) Laporan Triwulan kepada Direksi, • Submitting 4 (four) Quarterly Reports to the Board of Directors,
Dewan Komisaris dan pemegang saham mayoritas. the Board of Commissioners, and the majority shareholder.
• Menyampaikan keterbukaan informasi kepada masyarakat, • Providing information disclosure to the public, including
termasuk ketersediaan informasi melalui situs web Perseroan. ensuring the availability of information through the Company’s
website.
• Menyampaikan kewajiban pelaporan Perseroan kepada • Submitting the Company’s reporting obligations to the
OJK sesuai dengan ketentuan. Financial Services Authority (OJK) in accordance with the
applicable regulations.
• Melaksanakan program orientasi Perseroan bagi Direksi • Implementing the Company’s orientation program for newly
dan/atau Dewan Komisaris yang baru. appointed members of the Board of Directors and/or the
Board of Commissioners.
• Melakukan perencanaan monitoring dan evaluasi • Conducting planning, monitoring, and evaluation of the
pelaksanaan program CSR implementation of CSR programs.
• Melakukkan engagement activities dengan pemangku • Carrying out stakeholder engagement activities and media
kepentingan dan tata kelola media. governance.
Siaran Pers Tahun 2025 Press Releases in 2025
Sekretaris Perusahaan telah menerbitkan 133 siaran pers untuk The Corporate Secretary issued 133 press releases to convey
menyampaikan informasi terkini Perseroan kepada publik melalui the Company’s latest information to the public through
situs web Perseroan dan dapat diakses oleh seluruh stakeholder. the Company’s website, which can be accessed by all
Berikut link informasi tersebut https://www.pge.pertamina.com/ stakeholders. The information is available at the following link:
id/si-aran-pers. https://www.pge.pertamina.com/id/si-aran-pers.
Keterbukaan Informasi Information Disclosure
Keterbukaan informasi dilakukan dengan mengacu pada Information disclosure is carried out in reference to Financial
Peraturan OJK Nomor 31/POJK.04/2015 tentang Keterbukaan Services Authority Regulation No. 31/POJK.04/2015
atas Informasi atau Fakta Material oleh Emiten atau Perusahaan concerning the Disclosure of Material Information or Facts by
Publik. Issuers or Public Companies.
Selama tahun 2025, PGE telah melakukan keterbukaan informasi Throughout 2025, PGE disclosed information to the public
kepada publik melalui publikasi 102 informasi dan fakta material through the publication of 102 material information and facts via
melalui Sistem Pelaporan Elektronik (SPE) yang terhubung dengan the Electronic Reporting System (SPE), which is connected to the
situs web Bursa Efek Indonesia (BEI) dan Otoritas Jasa Keuangan. websites of the Indonesia Stock Exchange (IDX) and the Financial
Keterbukaan Informasi PGE dapat diakses melalui situs web Services Authority. PGE’s information disclosure can be accessed
Perseroan https://www.pge.pertamina.com/id/keterbukaan- through the Company’s website at https://www.pge.pertamina.
informasi. com/id/keterbukaan-informasi
PT Pertamina Geothermal Energy Tbk
Page 372
370 Laporan Tahunan 2025 | 2025 Annual Report
Hubungan Investor
Investor Relations
Fungsi Hubungan Investor berperan dalam membangun dan The Investor Relations function plays a key role in establishing and
menjaga komunikasi yang transparan, konsisten, dan tepat maintaining transparent, consistent, and timely communication
waktu dengan pemegang saham, obligasi, analis, serta pelaku with shareholders, bondholders, analysts, and other capital
pasar modal lainnya, termasuk lembaga pemeringkat. Melalui market participants, including credit rating agencies. By providing
penyampaian informasi yang akurat dan relevan, fungsi ini accurate and relevant information, this function supports a
mendukung terciptanya pemahaman yang komprehensif atas comprehensive understanding of the Company’s performance
kinerja dan prospek Perseroan, serta berkontribusi pada and prospects, and contributes to sound investment decisions and
pengambilan keputusan investasi yang tepat dan peningkatan the enhancement of the Company’s value in the capital market.
nilai Perseroan di pasar modal.
Profil Kepala Hubungan Investor Profile of Head of Investor Relations
Usia | Age 48 tahun | 48 years old
Kewarganegaraan Indonesia | Indonesian
Citizenship
Domisili | Domicile Jakarta
Riwayat Pendidikan • Master of International Business, University of New South Wales
Educational Background (2006-2008)
• Bachelor of International Business, George Washington
University (1996-2000)
Pengalaman Kerja • Manager Investor Relation - PT Pertamina Geothermal Energy
Work Experience Tbk (2023-Sekarang)
• Sr. Expert ll Investor Relations - PT Perusahaan Gas Negara
Tbk (2023)
• Advisor Investor Relations - PT Perusahaan Gas Negara Tbk
(2022-2023)
• Advisor Investor Relations - PT Perusahaan Gas Negara Tbk
(2021-2022)
Rangkap Jabatan Tidak memiliki rangkap jabatan
Concurrent Position
No Concurrent Positions
Hubungan Afiliasi Tidak memiliki hubungan afiliasi baik dengan anggota Direksi,
Affiliate Relations anggota Dewan Komisaris lainnya, maupun dengan pemegang
saham pengendali dan utama
Does not have any affiliations with members of the Board of
Directors, or fellow members of the Board of Commissioners, nor
with the controlling and ultimate shareholders.
Sertifikasi
International Certificate in Investor Relations (ICIR)
Certification
Ronald Hutagalung
Hubungan Investor
Investor Relations
PT Pertamina Geothermal Energy Tbk
Page 373
Laporan Tahunan 2025 | 2025 Annual Report 371
Fungsi, Tugas, dan Tanggung Jawab Functions, Duties, and Responsibilities of
Hubungan Investor Investor Relations
Fungsi Hubungan Investor bertugas memastikan keterbukaan The Investor Relations function is responsible for ensuring adequate
informasi yang memadai serta menyediakan akses komunikasi disclosure of information and providing effective communication
yang efektif terkait kinerja dan prospek Perseroan, dengan tugas channels regarding the Company’s performance and prospects,
dan tanggung jawab sebagai berikut: with the following duties and responsibilities:
1. Menyusun dan mengimplementasikan strategi komunikasi 1. Develop and implement communication strategies with
dengan pemegang saham, obligasi, analis, serta pelaku shareholders, bondholders, analysts, and other capital market
pasar modal lainnya guna memastikan penyampaian participants to ensure consistent and integrated information
informasi yang konsisten dan terintegrasi. dissemination.
2. Menjaga hubungan yang konstruktif melalui penyampaian 2. Maintain constructive relationships by providing transparent,
informasi yang transparan, akurat, dan tepat waktu, serta accurate, and timely information, while fostering trust in the
membangun kepercayaan terhadap Perseroan. Company.
3. Mengelola komunikasi eksternal terkait kinerja, strategi, dan 3. Oversee external communications regarding the Company’s
prospek Perseroan melalui berbagai kanal, termasuk earnings performance, strategy, and outlook through various
call, analyst meeting, investor conference, roadshow, serta channels, including earnings calls, analyst meetings,
platform digital Perseroan. investor conferences, roadshows, and the Company’s digital
platforms.
4. Memonitor dan menganalisis pergerakan harga saham 4. Monitor and analyze the Company’s share price movements,
Perseroan, aktivitas perdagangan, serta sentimen pasar dan trading activity, market sentiment, and peer performance to
kinerja perusahaan sejenis sebagai bahan masukan bagi generate insights for management.
manajemen.
5. Mengelola basis data investor dan analis, serta 5. Maintain the investor and analyst database, and coordinate
mengoordinasikan komunikasi yang efektif dengan effective communication with relevant stakeholders.
pemangku kepentingan terkait.
6. Mengelola hubungan dengan lembaga pemeringkat (rating 6. Maintain relationships with rating agencies and support the
agencies) serta mendukung proses pemeringkatan Perseroan. Company’s rating process.
7. Mengoordinasikan penyusunan dan penyampaian laporan 7. Coordinate the preparation and public disclosure of reports,
kepada publik, termasuk laporan tahunan dan keterbukaan including annual reports and other disclosure documents, in
informasi lainnya, sesuai dengan ketentuan yang berlaku. compliance with applicable regulations.
Pengembangan Kompetensi Investor Investor Relations Competency
Relations Development
Waktu dan Tempat
Pelatihan Penyelenggara
Penyelenggaraan
Training Organizer
Date and Place
Business Continuity Management System Awareness Training (ISO 22301:2019) 12-13 Februari 2025, Jakarta
PT Pertamina (Persero)
12-13 February 2025, Jakarta
SDG Innovation Accelerator for Young Professionals 2025 13 Februari - 31 Juli 2025, Jakarta
UN Global Compact
13 February - 31 July 2025, Jakarta
Building Inclusive Workplaces 17 Februari 2025, Jakarta
PT Pertamina (Persero)
17 January 2025, Jakarta
Pertiwi PNRE - Financial Literacy 20 Mei 2025, Jakarta
Pertamina NRE
20 May 2025, Jakarta
Pertamina Investment Excellence Program 20 - 21 November 2025, Jakarta PT Pertamina (Persero)
Corporate Rating Methodology 27 - 28 November 2025, Jakarta PT Pertamina (Persero)
Corporate Life Saving Rules 30 November 2025, Jakarta PT Pertamina (Persero)
HSSE Culture Training 30 November 2025, Jakarta PT Pertamina (Persero)
PT Pertamina Geothermal Energy Tbk
Page 374
372 Laporan Tahunan 2025 | 2025 Annual Report
Pelaksanaan Kegiatan Hubungan Investor Implementation of Investor Relations
Tahun 2025 Activities in 2025
Kegiatan Investor Relation Jumlah (kali)
Investor Relations Activity Frequency (times)
Investor & Analyst Meetings 121
Public Expose 1
Non-Deal Roadshow & Conference 17
Global Earnings Call 2
Penerbitan Corporate Disclosure and Publication 18
PT Pertamina Geothermal Energy Tbk
Page 375
Laporan Tahunan 2025 | 2025 Annual Report 373
Audit Internal
Internal Audit
Perseroan memiliki fungsi audit internal yang membantu The Company has an internal audit function, which assists
manajemen dalam pelaksanaan evaluasi manajemen risiko, management in conducting evaluations of risk management,
pengendalian internal, dan penerapan GCG. internal control, and the implementation of Good Corporate
Governance.
Profil Kepala Audit Executive Profile of the Chief Audit Executive
Usia | Age 45 tahun | 45 years old
Kewarganegaraan Indonesia | Indonesian
Citizenship
Domisili | Domicile Jakarta
Riwayat Pendidikan Magister - Business Administration (MBA) Sarjana - Teknik
Educational Background Informatika
Master’s Degree - Business Administration (MBA) Bachelor’s
Degree - Information Technology
Pengalaman Kerja • Chief Audit Executive IA - PT Pertamina Geothermal Energy Tbk
Work Experience (2025 - Sekarang)
• Manager Group IT IA (2020 - 2024)
• Manager Internal Audit Sulawesi (2018-2019)
• Manager Finance & Support Function Audit - PT Pertamina Gas
(2015-2018)
• Senior Audit Business Group M&T Kantor Pusat & MOR III
(2012-2014)
• Auditor Ahli Madya Pemasaran & Shipping Kantor Pusat
(2009-2012)
• Asisten Pullahta & Rensisdur (2007-2009)
• Auditor Ahli Muda SPI Daerah Makassar (2003-2007)
Rangkap Jabatan Anggota Komite Audit - PT Pertamina International Shipping
Concurrent Position
Member of the Audit Committee - PT Pertamina International
Shipping
Hubungan Afiliasi Tidak memiliki hubungan afiliasi baik dengan anggota Direksi,
Affiliate Relations anggota Dewan Komisaris lainnya, maupun dengan pemegang
saham pengendali dan utama
Does not have any affiliations with members of the Board of
Directors, or fellow members of the Board of Commissioners, nor
with the controlling and ultimate shareholders.
Sertifikasi • Qualified Internal Auditor (QIA)
Certification • Certification in Audit Committee Practices (CACP)
Arie
Bimantoro
Chief Audit Executive
PT Pertamina Geothermal Energy Tbk
Page 376
374 Laporan Tahunan 2025 | 2025 Annual Report
Pengangkatan dan Pemberhentian Appointment and Dismissal
Fungsi Internal Audit PGE dipimpin oleh Chief Audit Executive The Internal Audit function of PGE is led by the Chief Audit
yang diangkat dan diberhentikan oleh Direktur Utama Perseroan Executive, who is appointed and dismissed by the Company’s
sesuai rekomendasi dari Chief Audit Executive PT Pertamina President Director upon the recommendation of the Chief Audit
(Persero) dengan memperoleh persetujuan Dewan Komisaris Executive of PT Pertamina (Persero) and with the approval
Perseroan. Pengangkatan dan pemberhentian Chief Audit of the Board of Commissioners, in accordance with the
Executive dilakukan sesuai Corporate Chartered dan Peraturan Corporate Charter and Financial Services Authority Regulation
OJK No.56/POJK.04/2015 tentang Pembentukan dan Pedoman No. 56/POJK.04/2015 on the Establishment and Guidelines for
Penyusunan Piagam Audit Internal. the Preparation of the Internal Audit Charter.
Struktur Organisasi dan Kedudukan Organizational Structure and Position
Fungsi Internal Audit of the Internal Audit Function
Chief Audit Executive bertanggungjawab langsung kepada The Chief Audit Executive reports directly to the President
Direktur Utama Perseroan berdasarkan Surat Keputusan Direktur Director of the Company based on the Decree of the
Utama PT Pertamina Geothermal Energy Nomor Kpts.P-094/ President Director of PT Pertamina Geothermal Energy No.
PGE000/2024-S8 tanggal 16 Desember 2024 tentang Struktur Kpts.P-094/PGE000/2024-S8 dated 16 December 2024
Organisasi PT Pertamina Geothermal Energy Tbk. concerning the Organizational Structure of PT Pertamina
Geothermal Energy Tbk.
Direktur Utama
President Director
Chief Audit
Excecutive
Manager Internal Audit Manager Internal Audit
Operation & Infrastructure Finance & Business Support
Auditor Operation & Auditor Operation & Auditor Finance & Auditor Finance &
Infrasturcture Infrastructure Business Support Business Support
Piagam Internal Audit Internal Audit Charter
Piagam Internal Audit disusun dengan berpedoman pada The Internal Audit Charter is prepared in reference to Financial
Peraturan Otoritas Jasa Keuangan Nomor 56/POJK.04/2015 Services Authority Regulation No. 56/POJK.04/2015
tentang Pembentukan dan Pedoman Penyusunan Piagam Internal concerning the Establishment and Guidelines for the Preparation
Audit. Fungsi Internal Audit telah memperbaharui Piagam Internal of the Internal Audit Charter. The Internal Audit Function has
Audit yang ditandatangani oleh Direktur Utama dan Komisaris updated the Internal Audit Charter, which was signed by the
Utama beserta Chief Audit Executive pada tanggal 19 Januari President Director, the President Commissioner, and the Chief
2026. Audit Executive on 19 January 2026.
Piagam Internal Audit merupakan pedoman bagi Fungsi Internal The Internal Audit Charter serves as a guideline for the Internal
Audit dalam melaksanakan kegiatannya. Piagam Internal Audit Audit function in carrying out its activities. The Internal Audit
memuat visi, misi, tujuan, ruang lingkup, prinsip utama internal Charter outlines the vision, mission, objectives, scope, core
audit, persyaratan auditor internal, larangan perangkapan tugas principles of internal audit, requirements for internal auditors,
dan jabatan, struktur dan kedudukan, independensi, wewenang, restrictions on concurrent positions and duties, organizational
tugas dan tanggung jawab, standar pelaksanaan internal audit, structure and position, independence, authority, duties and
serta kode etik auditor. responsibilities, internal audit implementation standards, and the
code of ethics for auditors.
PT Pertamina Geothermal Energy Tbk
Page 377
Laporan Tahunan 2025 | 2025 Annual Report 375
Personil Audit Executive Audit Executive Personnel
Jumlah personel Audit Executive per 31 Desember 2025 terdiri As of 31 December 2025 the Audit Executive function consists of
dari 5 (lima) personil dengan komposisi sebagai berikut: 5 (five) personnel with the following composition:
Nama Jabatan Pendidikan Sertifikasi Profesi
Name Position Position Professional Certification
Arie Bimantoro Chief Audit Executive S2 QIA, CACP
Irda Dewi Puspita Manager Internal Audit Finance & Business Support S2 QIA, CFrA, CFE, CRP
Tumpal Wagner Sitorus Manager Internal Audit Operation & Infrastructure CFE, ASEAN CPA, CA, CPA,
S2
RNA, BKP
Aditya Yoga Satria Auditor I Internal Audit Operation & Infrastructure S2 Ir., CFrA, QIA
Denissa Pramesty Auditor II Internal Audit Finance & Business Support S1 CFrA, QIA, CFE
Mahdian Kurnia Natadiputra Auditor I Internal Audit Operation & Infrastructure S2 CFrA, QIA
Muhammad Fitra Arifianto Auditor I Internal Audit Finance & Business Support S1 CFrA, QIA
Kualifikasi dan Sertifikasi Auditor Auditor Qualifications and Certifications
Sertifikasi Profesi Jumlah Pekerja Pemilik Sertifikat
No.
Profession Certification Number of Employees with Certificates
1 Qualified Internal Auditor (QIA) 6
2 Certified Forensic Auditor (CFrA) 5
3 Certified Fraud Examiner (CFE) 3
4 Certification in Audit Committee Practices (CACP) 1
5 ASEAN Certified Public Accountant (ASEAN CPA) 1
6 Certified Public Accountant (CPA) 1
7 Register Negara Akuntan (RNA) 1
8 Bersertifikat Konsultan Pajak (BKP) 1
9 Certified Risk Professional (CRP) 1
Independensi Internal Audit Independence of Internal Audit
Aspek independensi Audit Internal meliputi: The independence aspects of Internal Audit include the following:
• Chief Audit Executive dan seluruh staf Internal Audit dilarang • The Chief Audit Executive and all Internal Audit staff are
terlibat dalam kegiatan operasional Perusahaan maupun prohibited from being involved in the Company’s operational
Afiliasi yang dapat mengganggu independensi pelaksanaan activities or those of its Affiliates that may compromise the
tugasnya. independence of their duties.
• Chief Audit Executive dan seluruh staf Internal Audit • The Chief Audit Executive and all Internal Audit staff are
wajib menjaga sikap tidak memihak, menghindari konflik required to maintain impartiality, avoid conflicts of interest,
kepentingan, objektif dalam menjalankan penugasan dan perform their assignments objectively, and disclose any
mengungkapkan jika terjadi potensi konflik kepentingan dan potential conflicts of interest and any circumstances that may
gangguan terhadap independensi. impair their independence.
• Staf Internal Audit yang direkrut dari Fungsi Bisnis di • Internal Audit staff recruited from Business Functions within
lingkungan PGE dapat melakukan audit di fungsi bisnis PGE may conduct audits of the relevant business functions
yang bersangkutan paling kurang 1 (satu) tahun sejak only after a minimum period of one year since their transfer
kepindahannya ke Fungsi Internal Audit dengan tetap to the Internal Audit Function, while upholding the principles
mengedepankan aspek independensi dan objektivitas. of independence and objectivity.
• Chief Audit Executive menyampaikan pelaksanaan audit, • The Chief Audit Executive reports the implementation of
laporan hasil audit termasuk intervensi (jika ada) dalam audits and the audit results, including any intervention (if any)
penentuan lingkup audit kepada Direktur Utama, Komisaris in determining the audit scope, to the President Director, the
Utama dan Komite Audit. President Commissioner, and the Audit Committee.
• Chief Audit Executive dapat berkomunikasi dan berinteraksi • The Chief Audit Executive may communicate and interact
langsung dengan Dewan Komisaris dan Komite Audit, tanpa directly with the Board of Commissioners and the Audit
kehadiran Manajemen. Committee without the presence of Management.
PT Pertamina Geothermal Energy Tbk
Page 378
376 Laporan Tahunan 2025 | 2025 Annual Report
Kode Etik Auditor Auditor’s Code of Ethics
Setiap Auditor Internal Perseroan wajib mematuhi Kode Etik Each Internal Auditor of the Company is required to comply with
Internal Audit sebagai berikut: the Internal Audit Code of Ethics as follows:
1. Integritas 1. Integrity
• Melaksanakan setiap penugasan dengan bersungguh- • Performing every assignment diligently, with full
sungguh, penuh rasa tanggung jawab, serta menjunjung responsibility, while upholding professionalism and the
tinggi profesionalitas dan nilai-nilai kejujuran. values of honesty.
• Mematuhi peraturan perundang-undangan di dalam • Complying with applicable laws and regulations in
pelaksanaan kegiatan penugasan, termasuk dalam carrying out assignments, including in the disclosure of
pengungkapan informasi audit. audit information.
• Menjauhkan diri dari segala bentuk kegiatan yang dapat • Refraining from any activities that may harm the reputation
mencederai reputasi profesi dan Perseroan. of the profession and the Company.
• Melakukan interupsi terhadap kejadian yang berpotensi • Taking action against incidents that have the potential
fraud di setiap lini kegiatan Perseroan. to constitute fraud across all lines of the Company’s
activities.
• Mematuhi kode etik Perseroan dan berkontribusi pada • Complying with the Company’s code of ethics and
pencapaian tujuan Perseroan. contributing to the achievement of the Company’s
objectives.
2. Objektivitas 2. Objectivity
• Menghindari diri dari segala bentuk aktivitas yang • Avoiding any activities that may compromise the quality
dapat merusak kualitas penugasan termasuk upaya of assignments, including attempts to obtain personal
pengambilan manfaat pribadi, konflik kepentingan, dan benefits, conflicts of interest, and subjective bias in the
keberpihakan subjektif dalam pelaksanaan kegiatan execution of assignments.
penugasan.
• Menahan diri untuk tidak menilai aktivitas tertentu yang • Refraining from assessing activities that were previously
sebelumnya menjadi tanggung jawab Auditor. the responsibility of the auditor.
• Mengungkapkan seluruh fakta penting yang relevan • Disclosing all significant facts relevant to the execution of
dengan pelaksanaan penugasan, yang jika tidak assignments which, if not disclosed, may affect the quality
diungkapkan akan mempengaruhi kualitas laporan hasil of the assignment report.
penugasan.
• Menolak segala bentuk pemberian dari pihak manapun • Rejecting any form of gratuities or benefits from any party
yang dapat mempengaruhi penilaian profesional. that may influence professional judgment.
• Menyatakan secara terbuka jika terjadi potensi konflik • Openly declaring any potential conflicts of interest
kepentingan atau gangguan yang dapat melemahkan or circumstances that may impair independence and
terhadap independensi dan objektivitas. objectivity.
3. Kompetensi 3. Competence
• Memiliki pengetahuan, keterampilan, dan kompetensi • Possessing adequate knowledge, skills, and competencies
yang memadai dalam setiap pelaksanaan kegiatan in carrying out assignments.
penugasan.
• Meningkatkan keahlian, efektivitas, kualitas penugasan, • Enhancing expertise, effectiveness, quality of assignments,
dan kompetensi melalui pendidikan profesional yang and competencies through continuous professional
berkelanjutan. education.
4. Profesionalisme 4. Professionalism
• Memastikan setiap pelaksanaan kegiatan sesuai dengan • Ensuring that all activities are conducted in accordance
Standar Internal Audit Internasional. with International Internal Audit Standards.
• Mempertimbangkan sifat, keadaan, dan persyaratan • Taking into consideration the nature, circumstances, and
penugasan yang akan dilakukan. requirements of the assignments to be carried out.
• Menerapkan sikap skeptisisme profesional dalam • Applying professional skepticism in planning and
merencanakan dan melaksanakan penugasan. executing assignments.
PT Pertamina Geothermal Energy Tbk
Page 379
Laporan Tahunan 2025 | 2025 Annual Report 377
5. Kerahasiaan 5. Confidentiality
• Mengelola informasi yang diperoleh selama pelaksanaan • Managing information obtained during the performance
tugas dengan hati-hati dan menjaga kerahasiaannya. of duties with due care and maintaining its confidentiality.
• Menggunakan informasi yang diperoleh dalam • Using information obtained during assignments solely for
pelaksanaan tugas hanya untuk kepentingan Perusahaan. the benefit of the Company.
Mandat Mandate
Dalam menjalankan tugasnya, Internal audit mendapatkan In carrying out its duties, the Internal Audit function receives
mandat dari Direktur Utama dan Dewan Komisaris. Mandat its mandate from the President Director and the Board of
tersebut menetapkan wewenang dan tanggung jawab Fungsi Commissioners. This mandate establishes the authority and
Internal audit. responsibilities of the Internal Audit Function.
1. Wewenang 1. Authority
a. Memiliki akses tidak terbatas atas semua data, dokumen, a. Having unrestricted access to all data, documents,
fungsi, kegiatan, dan sumber daya Perusahaan lainnya functions, activities, and other Company resources,
termasuk meminta keterangan atau penjelasan pada including the authority to request information or
semua pejabat/pekerja dalam rangka pelaksanaan explanations from all officers and employees in the course
tugasnya. of performing its duties.
b. Menentukan ruang lingkup, strategi, metode, teknik, b. Determining the scope, strategy, methods, techniques,
pendekatan audit, dan langkah pelaksanaan Quality audit approach, and procedures for conducting Quality
Assessment. Assessments.
c. Melaksanakan komunikasi secara langsung dengan c. Communicating directly with the Board of Directors, the
Direksi, Dewan Komisaris, dan/atau Komite Audit. Board of Commissioners, and/or the Audit Committee.
d. Melaksanakan koordinasi dengan auditor eksternal dan d. Coordinating with external auditors and other supervisory
institusi pengawasan lainnya. institutions.
e. Meminta atau mendapatkan bantuan dari pekerja internal e. Requesting or obtaining assistance from internal
Perusahaan maupun dari pihak eksternal Perusahaan employees of the Company as well as external parties in
dalam rangka pelaksanaan tugasnya. the execution of its duties.
f. Mengadakan rapat secara berkala dan pada saat f. Holding periodic meetings and meetings as required with
diperlukan dengan Direksi, Dewan Komisaris, dan/atau the Board of Directors, the Board of Commissioners, and/
Komite Audit. or the Audit Committee.
g. Berperan aktif dalam diskusi penunjukan dan/atau g. Actively participating in discussions regarding the
pengangkatan CAE di Anak Perusahaan PT Pertamina appointment and/or assignment of the Chief Audit
Geothermal Energy Tbk dengan memberikan rekomendasi Executive in Subsidiaries of PT Pertamina Geothermal
dan/atau persetujuannya. Energy Tbk by providing recommendations and/or
approval.
h. Berkoordinasi dengan Holding untuk menentukan arah h. Coordinating with the Holding to determine policy
kebijakan, struktur organisasi, pengelolaan pembinaan direction, organizational structure, career development
karir pekerja (mutasi dan/atau promosi), pengelolaan management of employees (mutations and/or promotions),
manpower, pelaksanaan penugasan, serta melakukan manpower management, the execution of assignments,
koordinasi dan pengawasan kegiatan Internal audit as well as coordinating and supervising Internal Audit
Perusahaan, Anak Perusahaan, dan Afiliasi. activities within the Company, its Subsidiaries, and
Affiliates.
i. Melaksanakan kegiatan assurance, advisory, dan i. Conducting assurance, advisory, and investigative audit
audit investigasi (bila ada pelimpahan wewenang) activities (where authority has been delegated) within
di lingkungan PT Pertamina Geothermal Energy Tbk, PT Pertamina Geothermal Energy Tbk, its Subsidiaries,
Anak Perusahaan, dan Afiliasi melalui mekanisme yang and Affiliates through mechanisms coordinated with the
dikoordinasikan dengan Holding. Holding.
j. Mengoordinasikan kegiatan Internal audit dengan Internal j. Coordinating Internal Audit activities with the Internal
audit Subholding PNRE dan Internal audit Holding sesuai Audit of Subholding PNRE and the Internal Audit of the
dengan pola koordinasi yang telah disetujui oleh Direktur Holding in accordance with the coordination framework
Utama. approved by the President Director.
PT Pertamina Geothermal Energy Tbk
Page 380
378 Laporan Tahunan 2025 | 2025 Annual Report
2. Tugas dan Tanggung Jawab 2. Duties and Responsibilities
a. Menyusun Kode Etik dan Piagam Internal Audit yang a. Preparing the Code of Ethics and the Internal Audit
dikaji secara berkala. Charter, which are reviewed periodically.
b. Menyusun Annual Audit Plan (AAP) yang mencakup b. Preparing the Annual Audit Plan (AAP), which includes,
antara lain strategi, objek penugasan, jadwal penugasan, among others, strategy, audit objects, assignment
dan resources yang dibutuhkan, serta mengusulkan untuk schedules, and required resources, and proposing it
mendapatkan persetujuan Direktur Utama dan Dewan for approval by the President Director and the Board
Komisaris atas rekomendasi Komite Audit. of Commissioners based on the recommendation of the
Audit Committee.
c. Melaksanakan pengawasan pelaksanaan AAP dan c. Supervising the implementation of the AAP and reviewing
review AAP berjalan, untuk memastikan kesesuaiannya the ongoing AAP to ensure alignment with the Company’s
dengan proses bisnis dan risiko Perusahaan, serta business processes and risks, as well as with the scope
lingkup dan tujuan penugasan. and objectives of assignments.
d. Melaksanakan pengawasan melalui kegiatan assurance, d. Conducting oversight through assurance, advisory,
advisory, insight, dan foresight di seluruh area kegiatan insight, and foresight activities across all operational and
operasional dan bisnis Perusahaan. business areas of the Company.
e. Melaksanakan audit investigasi terhadap masalah yang e. Conducting investigative audits of issues that may cause
dapat menimbulkan kerugian bagi Perusahaan di PT losses to the Company within PT Pertamina Geothermal
Pertamina Geothermal Energy Tbk, Anak Perusahaan, Energy Tbk, its Subsidiaries, and Affiliates, in accordance
dan Afiliasi, mengikuti ketentuan Fungsi Internal audit with the provisions of the Holding’s Internal Audit Function.
Holding.
f. Melaksanakan evaluasi dan peningkatan mutu (Quality f. Conducting evaluation and quality improvement of
Assessment) kegiatan Internal audit. Internal Audit activities (Quality Assessment).
g. Melaksanakan pemaparan mengenai peran, tanggung g. Delivering presentations regarding the roles,
jawab, dan lingkup kerja Fungsi Internal audit sebagai responsibilities, and scope of the Internal Audit Function
bagian dari proses induction bagi Direksi dan Dewan as part of the induction process for newly appointed
Komisaris yang baru menjabat. members of the Board of Directors and the Board of
Commissioners.
h. Melaksanakan penugasan lain yang diamanatkan oleh h. Carrying out other assignments mandated by the Board
Direksi, Dewan Komisaris, dan/atau Komite Audit. of Directors, the Board of Commissioners, and/or the
Audit Committee.
i. Melaksanakan pemeriksaan kepatuhan terhadap i. Conducting compliance reviews with applicable laws
peraturan perundangan terkait. and regulations.
j. Melaksanakan evaluasi efektivitas tata kelola, j. Evaluating the effectiveness of governance, risk
manajemen risiko, dan proses pengendalian, serta management, and control processes, and identifying
mengidentifikasi alternatif perbaikan untuk peningkatan alternative improvements to enhance the Company’s
efisiensi operasional Perusahaan. operational efficiency.
k. Melaksanakan monitoring pelaksanaan tindak lanjut k. Monitoring the implementation of follow-up actions on
hasil internal audit, eksternal, dan institusi pengawasan the results of internal audits, external audits, and other
lainnya, dan melaporkan secara periodik kepada supervisory institutions, and reporting periodically to the
Direktur Utama dan Komite Audit. President Director and the Audit Committee.
l. Melaksanakan koordinasi pengawasan dan kegiatan l. Coordinating oversight and activities of the Internal
Fungsi Internal audit (termasuk audit/pemeriksaan/ Audit Function (including audits/examinations/Quality
Quality Assessment) dengan Komite Audit dan/atau Assessments) with the Audit Committee and/or External
Auditor Eksternal. Auditors.
m. Melaksanakan koordinasi pengelolaan kegiatan Internal m. Coordinating the management of Internal Audit activities,
audit yang tidak terbatas pada kegiatan assurance, including but not limited to assurance, advisory, insight,
advisory, insight, dan foresight dengan Internal Audit and foresight activities, with the Internal Audit of the
Holding, Sub Holding Power & NRE, Anak Perusahaan Holding, Sub holding Power & NRE, Subsidiaries, and
dan Afiliasi. Affiliates.
n. Melaksanakan koordinasi dengan Fungsi Pengawas n. Coordinating with the Company’s supervisory functions by
Perusahaan dengan melakukan tindak lanjut atas following up on reports or disclosures submitted through
pengaduan/penyingkapan melalui Whistleblowing the Whistleblowing System (WBS) and complaints from
System (WBS) dan pengaduan masyarakat atau pihak the public or other parties in accordance with applicable
lainnya sesuai dengan ketentuan yang berlaku. provisions.
PT Pertamina Geothermal Energy Tbk
Page 381
Laporan Tahunan 2025 | 2025 Annual Report 379
o. Memberikan keyakinan yang memadai atas penerapan o. Providing reasonable assurance regarding the
aspek integritas, objektivitas, kompetensi, kehati-hatian, implementation of the principles of integrity, objectivity,
dan kerahasiaan. competence, due professional care, and confidentiality.
p. Melakukan perlindungan informasi, kerahasiaan, privasi, p. Protecting information, confidentiality, privacy, and
dan kepemilikan dokumen/informasi yang diperoleh saat ownership of documents or information obtained during
pelaksanaan tugas. the performance of duties.
q. Memberikan keyakinan yang memadai bahwa setiap q. Providing reasonable assurance that each assignment is
penugasan dilakukan dengan supervisi dan didukung conducted under appropriate supervision and supported
dengan kertas kerja, serta rekomendasi, advice, dan by working papers, and that the recommendations,
insight yang disampaikan dapat diimplementasikan oleh advice, and insights provided can be implemented by the
Auditee. auditee.
r. Mendukung Fungsi Internal audit secara kolektif r. Supporting the Internal Audit Function collectively
mendapatkan pengembangan profesional berkelanjutan, in obtaining continuous professional development,
pengetahuan, keterampilan, dan kompetensi yang knowledge, skills, and adequate competencies.
memadai.
s. Mendukung adanya transfer knowledge dari pihak s. Supporting knowledge transfer from external parties to
eksternal kepada anggota Internal audit apabila Internal Audit members when engaging external services,
menggunakan jasa pihak eksternal selama tidak provided that such engagement does not compromise
mempengaruhi independensi. independence.
t. Mengkomunikasikan keterbatasan sumber daya t. Communicating limitations in resources for the execution
pelaksanaan penugasan, perubahan AAP, dan of assignments, changes to the AAP, and changes in
perubahan arah kebijakan kepada Direktur Utama, dan policy direction to the President Director and the Board of
Dewan Komisaris melalui Komite Audit. Commissioners through the Audit Committee.
u. Melaporkan hasil pengawasan serta risiko yang signifikan u. Reporting the results of oversight, as well as significant
dan masalah pengendalian termasuk risiko fraud, dan risks and control issues including fraud risks and other
permasalahan lain kepada Direktur Utama, Direktur matters, to the President Director and other relevant
lainnya yang relevan, untuk selanjutnya disampaikan Directors, to be subsequently conveyed to the Board of
kepada Dewan Komisaris melalui Komite Audit. Commissioners through the Audit Committee.
v. Melaporkan hasil kegiatan Internal audit, Quality v. Reporting the results of Internal Audit activities, Quality
Assessment, dan temuan signifikan kepada Direktur Assessments, and significant findings to the President
Utama dan Direktur Iainnya yang relevan, untuk Director and other relevant Directors, to be subsequently
selanjutnya disampaikan kepada Dewan Komisaris conveyed to the Board of Commissioners through the
melalui Komite Audit. Audit Committee.
w. Memperkuat tata kelola Perusahaan termasuk namun tidak w. Strengthening the Company’s governance, including but
terbatas pada Internal Control over Financial Reporting not limited to Internal Control over Financial Reporting
(ICoFR) dan Sistem Manajemen Anti Penyuapan (SMAP). (ICoFR) and the Anti-Bribery Management System
(ABMS).
Rencana dan Pelaksanaan Kegiatan Internal Audit Activity Plan and
Internal Audit Tahun 2025 Implementation in 2025
Fungsi Internal Audit menyusun rencana pelaksanaan kegiatan The Internal Audit Function prepared the plan for implementing
Internal Audit Tahun 2025 dalam Annual Audit Plan (AAP) yang Internal Audit activities in 2025 as outlined in the Annual Audit
disetujui oleh Direktur Utama dan Komisaris Utama selaku Ketua Plan (AAP), which was approved by the President Director and
Komite Audit. the President Commissioner in his capacity as Chairman of the
Audit Committee.
Dalam penyusunan Annual Audit Plan (AAP), Fungsi Internal In preparing the Annual Audit Plan (AAP), the Internal Audit
Audit mempertimbangkan aspek-aspek berikut ini: Function considered the following aspects:
• Top Corporate Risk PGE Tahun 2025 • PGE’s Top Corporate Risks for 2025
• Stakeholder expectations, di antaranya masukan • Stakeholder expectations, including input from Management
Management dan arahan Dewan Komisaris/Komite Audit. and direction from the Board of Commissioners/Audit
Committee
• Strategic Planning (RKAP) Tahun 2025 • Strategic Planning (RKAP) for 2025
• Historical audit coverage work program • Historical audit coverage work programs
PT Pertamina Geothermal Energy Tbk
Page 382
380 Laporan Tahunan 2025 | 2025 Annual Report
• Fraud Risk Identification (FRI) dari Fungsi Audit Investigation • Fraud Risk Identification (FRI) from the Holding’s Audit
Holding Investigation Function
• Tema penyusunan AAP Tahun 2025 pada Fungsi Internal • The theme for the preparation of the 2025 AAP within the
Audit PT Pertamina Group Internal Audit Function of the PT Pertamina Group
• Hasil Rapat Kerja dan Koordinasi PT Pertamina (Persero), • Results of coordination and working meetings of PT Pertamina
Subholding, dan Anak Perusahaan (Persero), Subholding, and Subsidiaries
• Auditor Judgement & Management Insights Audit Executive. • Auditor judgment and management insights from the Audit
Executive Function.
Rencana Kerja Tahunan Internal Audit Internal Audit Annual Work Plan
Per 31 Desember 2025, Fungsi Internal Audit (Audit Executive) As of 31 December 2025, the Internal Audit Function (Audit
telah melaksanakan 7 (tujuh) penugasan audit, jumlah ini Executive) had carried out seven audit assignments. This number
melebihi rencana yang dituangkan dalam Annual Audit Plan exceeded the plan outlined in the 2025 Annual Audit Plan
(AAP) tahun 2025 yaitu 5 (lima) penugasan audit. Sebanyak 4 (AAP), which initially included 5 (five) audit assignments. 4 (Four)
(empat) penugasan AAP telah diselesaikan , yaitu: assignments under the AAP have been completed, namely:
1. Konsultasi Pengembangan Bisnis dan Manajemen Proyek di 1. Consultation on Business Development and Project
PT Pertamina Geothermal Energy Tbk. Management at PT Pertamina Geothermal Energy Tbk.
2. Audit Kehandalan Fasilitas Produksi di PT PGE Tbk. 2. Audit of Production Facility Reliability at PT PGE Tbk.
3. Audit atas Proses Bisnis dan Kinerja Fungsi Investor Relation 3. Audit of the Business Process and Performance of the Investor
di PT PGE Tbk. Relations Function at PT PGE Tbk.
4. Evaluasi Proses Pengadaan Wellhead di PT PGE Tbk. 4. Evaluation of the Wellhead Procurement Process at PT PGE
Tbk.
Fungsi Internal Audit juga telah melaksanakan 2 (dua) penugasan The Internal Audit Function also carried out two assignments
di luar Annual Audit Plan (non-AAP), yaitu: outside the Annual Audit Plan (non-AAP), namely:
1. Evaluasi atas Kontrak Pemasokan Berdasarkan Permintaan 1. Evaluation of Supply Contracts Based on Call of Order
(Call of Order) dan Pengelolaan Manajemen Kontrak di Requests and Contract Management at PT Pertamina
PT Pertamina Geothermal Energy Tbk. Geothermal Energy Tbk.
2. Evaluasi Penilaian Peringkat Komposit Risiko PT Pertamina 2. Evaluation of the Composite Risk Rating Assessment of PT
Geothermal Energy Tbk. Pertamina Geothermal Energy Tbk.
Selain itu, terdapat 1 (satu) penugasan yang akan dialihkan (carry In addition, there was 1 (one) assignment that will be carried over
over) ke penugasan tahun 2026, yaitu Audit atas Implementasi to the 2026 audit plan, namely the Audit of the Implementation of
Internal Control over Financial Reporting (ICoFR). Internal Control over Financial Reporting (ICoFR).
PT Pertamina Geothermal Energy Tbk
Page 383
Laporan Tahunan 2025 | 2025 Annual Report 381
Realisasi Kegiatan Audit Executive PGE Realization of PGE Audit Executive
Tahun 2025 Activities in 2025
Fungsi Internal Audit PGE telah menyelesaikan 7 (tujuh) The PGE Internal Audit Function completed 7 (seven) assurance
penugasan assurance, yaitu: assignments in 2025, as follows:
Penugasan Audit AP/AAP Terpadu/Non AAP Bulan
Integrated AP/AAP/Non-AAP Audit Assignments Month
No. dan Tanggal SPRIN dan
Judul Audit Kategori
No. Laporan Hasil Audit 1 2 3 4 5 6 7 8 9 10 11 12
Audit Title Category
Report No. and Date
1 Konsultasi SP No.Prin-001/PGE700/2025-SO,
Pengembangan Bisnis tanggal 24 Januari 2025
dan Manajemen Proyek Laporan Interim No. 02/
PGE700/2025-SO, tanggal 30 Juni
Business Development 2025
and Project Laporan Hasil Konsultasi No. 05/
Management PGE700/2025-SO, tanggal 30
Consultation Desember 2025
AAP
Assignment Letter No.Prin-001/
PGE700/2025-SO dated 24 January
2025
Interim Report No. 02/PGE700/2025-
SO dated 30 June 2025
Consultation Report No. 05/
PGE700/2025-SO dated 30 December
2025
2 Audit Keandalan SP No.Prin-004/PGE700/2025-SO,
Fasilitas Produksi tanggal 5 Agustus 2025
SP No.Prin-008/PGE700/2025-SO,
Production Facility tanggal 31 Oktober 2025
Reliability Audit Laporan Hasil Audit No. 04/
PGE700/2025-SO, tanggal 17
Desember 2025
AAP
Assignment Letter No.Prin-004/
PGE700/2025-SO dated 5 August
2025
Assignment Letter No.Prin-008/
PGE700/2025-SO dated 31 October
2025s
Audit Report No. 04/PGE700/2025-
SO dated 17 December 2025
3 Audit atas Implementasi SP No.Prin-007/PGE700/2025-SO,
ICOFR tanggal 12 November 2025
AAP
Audit of the Assignment Letter No.Prin-007/
Implementation of PGE700/2025-SO dated 12 November
ICOFR 2025
4 Audit atas Proses Bisnis SP No.Prin-009/PGE700/2025-SO,
dan Kinerja Fungsi tanggal 3 November 2025
Investor Relation Laporan Hasil Audit
No. 06/PGE700/2025-SO, tanggal
Audit of the Business 31 Desember 2025
AAP
Process and
Performance of the Assignment Letter No.Prin-009/
Investor Relations PGE700/2025-SO dated 3 November
Function 2025
Audit Report No. 06/PGE700/2025-
SO dated 31 December 2025
PT Pertamina Geothermal Energy Tbk
Page 384
382 Laporan Tahunan 2025 | 2025 Annual Report
Penugasan Audit AP/AAP Terpadu/Non AAP Bulan
Integrated AP/AAP/Non-AAP Audit Assignments Month
No. dan Tanggal SPRIN dan
Judul Audit Kategori
No. Laporan Hasil Audit 1 2 3 4 5 6 7 8 9 10 11 12
Audit Title Category
Report No. and Date
5 Evaluasi Proses SP No.Prin-002/PGE700/2025-SO,
Pengaduan Wellhead tanggal 28 April 2025
di PT Pertamina SP No.Prin-003/PGE700/2025-SO,
Geothermal Energy Tbk tanggal 16 Mei 2025
Laporan Hasil Audit Evaluasi
Evaluation of the SP No.Prin-01/PGE700/2025-SO,
Wellhead Procurement tanggal 30 Juni 2025
Process at PT Pertamina
AAP
Geothermal Energy Tbk Assignment Letter No.Prin-002/
PGE700/2025-SO dated 28 April
2025
Assignment Letter No.Prin-003/
PGE700/2025-SO dated 16 May
2025
Evaluation Audit Report No.Prin-01/
PGE700/2025-SO dated 30 June
2025
6 Evaluasi atas Kontrak SP No.Prin-004/PGE700/2025-SO,
Pemasokan Berdasarkan tanggal 16 Mei 2025
Permintaan (Call of Laporan Hasil Evaluasi
Order) dan Pengelolaan SP No.Prin-03/PGE700/2025-SO,
Manajemen Kontrak tanggal 30 Juni 2025
di PT Pertamina
Geothermal Energy Tbk Assignment Letter No.Prin-004/
Non AAP
PGE700/2025-SO dated 16 May
Evaluation of Supply 2025
Contracts Based on Call Evaluation Report No.Prin-03/
of Order and Contract PGE700/2025-SO dated 30 June
Management at 2025
PT Pertamina
Geothermal Energy Tbk
7 Evaluasi Penilaian SP No.Prin-005/PGE700/2025-SO,
Peringkat Komposit tanggal 17 Juni 2025
Risiko di PT Pertamina Management Letter
Geothermal Energy Tbk No. R-014/PGE700/2025-SO, tanggal
30 Juni 2025
Evaluation of the Non AAP
Composite Risk Rating Assignment Letter No.Prin-005/
Assessment at PGE700/2025-SO dated 17 June
PT Pertamina 2025
Geothermal Energy Tbk Management Letter No. R-014/
PGE700/2025-SO, dated 30 June
2025
Penugasan Non-Audit lainnya Other Non-Audit Assignments
Selain penugasan Audit AAP dan Non-AAP, Fungsi Internal Audit In addition to audit assignments under the AAP and Non-AAP
telah melakukan Penugasan Formal Non-Audit lainnya, antara categories, the Internal Audit Function also carried out other formal
lain turut berperan aktif dalam penugasan Tim Unit Pengendalian non-audit assignments. These included actively participating in the
Gratifikasi (UPG) berdasarkan Surat Perintah Direktur PGE assignment of the Gratification Control Unit (Unit Pengendalian
Nomor Prin-100/PGE000/2024-S0 tanggal 27 Desember 2024. Gratifikasi or UPG) Team based on the Assignment Letter of the
Pada kegiatan tersebut, Chief Audit Executive berperan sebagai Director of PGE No. Prin-100/PGE000/2024-S0 dated 27
Ketua Tim Unit Pengendali Gratifikasi dan Pekerja Internal Audit December 2024. In this assignment, the Chief Audit Executive
ikut berperan di dalam penugasan tersebut sebagai Sekretaris served as the Head of the Gratification Control Unit Team,
dan Anggota. while Internal Audit personnel participated as the Secretary and
Members of the team.
Internal Audit PGE juga terlibat dalam beberapa penugasan PGE’s Internal Audit Function was also involved in several other
lainnya antara lain: Tim Implementasi & Sertifikasi Business assignments, including participation in the Implementation and
Continuity Management System (BCMS) ISO 22301:2019 di Certification Team for the Business Continuity Management System
PT Pertamina Geothermal Energy Tbk
Page 385
Laporan Tahunan 2025 | 2025 Annual Report 383
Holding & Subholding (Pertamina Group), Tim Implementasi & (BCMS) ISO 22301:2019 within the Holding and Subholding
Sertifikasi Geothermal Integrated Management System (GIMS) (Pertamina Group), the Implementation and Certification Team
ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, ISO for the Geothermal Integrated Management System (GIMS) ISO
37001:2016, Tim Pengelolaan STK PGE, Tim Penyusunan 9001:2015, ISO 14001:2015, ISO 45001:2018, and ISO
Dokumen Kinerja Ekselen (DKE), Tim Penyusun Annual Report 37001:2016, the STK PGE Management Team, the preparation
& Sustainability Report Tahun 2024, Tim Persiapan RUPS Tahun of the Dokumen Kinerja Ekselen (DKE), the Annual Report and
Buku 2024, Tim Anti Fraud Agent Pertamina (Persero), Tim Sustainability Report 2024 preparation team, the preparation
Kegiatan Fraud Awareness SH PNRE, Tim Environmental, Social team for the Annual General Meeting of Shareholders for the 2024
& Governance (ESG) Management PGE dan Tim Task Force financial year, the Anti-Fraud Agent Team of Pertamina (Persero),
Program Kerja Fungsi Internal Audit Tahun 2025. the Fraud Awareness Activities Team of Subholding PNRE, the
Environmental, Social & Governance (ESG) Management Team
of PGE, and the Task Force Team for the 2025 Internal Audit
Function Work Program.
Pendampingan Review/Audit/ Assistance in Review/Audit/Assessment
Assessment oleh Pihak Eksternal by External Parties
1. Pendampingan Audit Pemeriksaan atas Kinerja Kegiatan 1. Assistance in the Audit of the Performance of Business
Bisnis dalam Mendukung Pembangunan Energi Berkelanjutan Activities in Supporting Sustainable Energy Development for
Tahun 2020 – Semester I 2024 oleh BPK RI. 2020 – Semester I 2024 by BPK RI
Pendampingan atas Audit Pemeriksaan telah dilakukan atas Assistance was provided in the audit of the performance of
Kinerja Kegiatan Bisnis PT Pertamina (Persero), PT Pertamina business activities of PT Pertamina (Persero), PT Pertamina
Power Indonesia, Anak Perusahaan dan Instansi Terkait Power Indonesia, its subsidiaries, and related institutions in
dalam mendukung Pembangunan Energi Berkelanjutan Tahun supporting sustainable energy development for the period
2020 sampai dengan Semester I Tahun 2024 . Hingga akhir 2020 until the first semester of 2024. As of 31December
31 Desember 2025, BPK telah mengeluarkan Laporan Hasil 2025, BPK has issued the Audit Report (LHP) No. 22/
Pemeriksaan (“LHP”) No. 22/LHP/XX/03/2025 tanggal LHP/XX/03/2025 dated March 7, 2025. The Internal
7 Maret 2025. Fungsi Internal Audit telah melakukan Audit Function has monitored the follow-up actions on the
monitoring tindak lanjut atas 14 rekomendasi LHP tersebut. 14 recommendations contained in the LHP. All evidence
Seluruh evidence atas 14 tindak lanjut termasuk 14 of the 14 follow-up actions, including the 14 recommendations,
rekomendasi telah disampaikan kepada IA Holding (PSPM) has been submitted to the Holding Internal Audit (PSPM)
melalui 3 (tiga) Surat Keluar, yaitu: through 3 (three) outgoing letters, namely:
a. No. R-017/PGE700/2025-S0 tanggal 21 Juli 2025; a. No. R-017/PGE700/2025-S0 dated 21 July 21 2025;
b. No. R-021/PGE700/2025-S0 tanggal 11 Desember b. No. R-021/PGE700/2025-S0 dated 11 December
2025; dan 2025; and
c. No. R-001/PGE700/2026-S0 tanggal 5 Januari 2026. c. No. R-001/PGE700/2026-S0 dated 5 January 2026.
Saat ini, Perseroan masih menunggu hasil evaluasi Tim BPK-RI Currently, the Company is awaiting the evaluation results
atas evidence tindak lanjut yang telah diberikan. from the BPK-RI team regarding the follow-up evidence that
has been submitted.
2. Pendampingan Audit Kepatuhan Pemenuhan Kewajiban 2. Assistance in the Compliance Audit of the Fulfillment of
Penyetoran Bagian Pemerintah Tahun Buku 2021 – 2022 oleh Government Revenue Sharing Obligations for Fiscal Years
Badan Pengawasan Keuangan dan Pembangunan (BPKP). 2021 – 2022 by the Financial and Development Supervisory
Agency (BPKP)
Fungsi Internal Audit berkoordinasi dengan fungsi terkait The Internal Audit Function coordinated with relevant
dalam pelaksanaan Audit Kepatuhan Pemenuhan Kewajiban functions in the implementation of the Compliance Audit of
Penyetoran Bagian Pemerintah Pada Tahun Buku 2021 – the Fulfillment of Government Revenue Sharing Obligations
2022 yang dilaksanakan berdasarkan Surat Tugas Direktur for Fiscal Years 2021 – 2022, which was conducted
BPKP Nomor PE.04.02/ST-694/D404/2/2024 tanggal 28 based on the Assignment Letter of the Director of BPKP
Oktober 2024. Perseroan telah menyampaikan tanggapan No. PE.04.02/ST-694/D404/2/2024 dated 28 October
atas Temuan Audit Sementara (TAF) kepada Tim BPKP pada 2024. The Company submitted its response to the Temporary
tanggal 29 Juli 2025 dan masih menunggu tanggapan dan Audit Findings (TAF) to the BPKP team on 29 July 2025 and is
Laporan hasil Audit dari BPKP. currently awaiting further response and the final audit report
from BPKP.
PT Pertamina Geothermal Energy Tbk
Page 386
384 Laporan Tahunan 2025 | 2025 Annual Report
3. Pendampingan atas Asesmen Tingkat Maturitas Penerapan 3. Assistance in the Risk Management Maturity Assessment at
Manajemen Risiko pada PGE oleh Indonesia Risk and PGE by Indonesia Risk and Business Advisory (IRBA)
Business Advisory (IRBA).
Fungsi Internal Audit berkolaborasi dengan Fungsi Enterprise The Internal Audit Function collaborated with the Enterprise
Risk Management (ERM) dan fungsi terkait lainnya melalui Risk Management (ERM) Function and other relevant functions
tim counterpart pelaksanaan risk maturity assessment Tahun through a counterpart team for the implementation of the
2025 yang pelaksanaannya dilakukan berdasarkan Surat 2025 risk maturity assessment, which was conducted based
Perintah Direktur Utama PGE No.Prin-080/PGE000/2025-S0 on the Assignment Letter of the President Director of PGE No.
tanggal 18 September 2025. IRBA telah mengeluarkan Prin-080/PGE000/2025-S0 dated 18 September 2025.
Laporan Hasil Pelaksanaan Tahap 1 Risk Maturity Assessment IRBA issued the Stage 1 Risk Maturity Assessment Report for
PT PGE Tbk dengan skor RMI PGE adalah 3,7 atau berada PT PGE Tbk, indicating that PGE’s Risk Maturity Index (RMI)
di Fase Praktik Yang Baik (+). Rekomendasi pada laporan score was 3.7, placing it in the Good Practice (+) Phase.
tersebut telah ditindaklanjuti Perseroan, sehingga skor untuk The Company has followed up on the recommendations
RMI pada tahun 2026 diharapkan akan lebih baik. contained in the report, and therefore the RMI score for 2026
is expected to improve further.
4. Pendampingan atas Rekomendasi Internal Control 4. Assistance in the Follow-up of Internal Control Memorandum
Memorandum (ICM) dari KAP Purwanto Susanti dan Surja (ICM) Recommendations from KAP Purwanto Susanti and
Surja
Fungsi Internal Audit melakukan pendampingan atas The Internal Audit Function provided assistance in following up
rekomendasi ICM dari KAP Purwanto Susanti dan Surja (KAP on the Internal Control Memorandum (ICM) recommendations
PSS/EY Indonesia) yang terdiri dari 8 (delapan) rekomendasi from KAP Purwanto Susanti and Surja (KAP PSS/EY
dan 6 (enam) di antaranya telah diselesaikan (closed). 2 Indonesia), which consisted of 8 (eight) recommendations,
(dua) rekomendasi terkait Audit Tahunan Laporan Keuangan 6 (six) of which have been completed (closed). 2 (two)
Konsolidasian PT Pertamina Geothermal Energy Tbk. Tahun recommendations related to the audit of the Consolidated
2024 tanggal 23 April 2025 sudah diajukan penyelesaian Financial Statements of PT Pertamina Geothermal Energy Tbk
tindak lanjut melalui Surat Keluar Chief Audit Executive for the year ended 2024, dated 23 April 2025, have been
No.184/PGE700/2025-S0 tanggal 4 Desember 2025. submitted for follow-up completion through the Outgoing Letter
Saat ini, Perseroan menunggu hasil evaluasi KAP PSS/EY of the Chief Audit Executive No. 184/PGE700/2025-S0
Indonesia atas evidence tindak lanjut disampaikan. dated 4 December 2025. The Company is currently awaiting
the evaluation results from KAP PSS/EY Indonesia regarding
the submitted follow-up evidence.
5. Pendampingan atas Audit Laporan Keuangan oleh KAP PSS/ 5. Assistance in the Financial Statement Audit by KAP PSS/EY
EY Indonesia Indonesia
Fungsi Internal Audit melakukan pendampingan KAP PSS/ The Internal Audit Function provided assistance to KAP PSS/
EY Indonesia dalam Audit Laporan Keuangan Konsolidasi PT EY Indonesia in the audit of the Consolidated Financial
Pertamina Geothermal Energy Tbk. Periode Tahun 2025. KAP Statements of PT Pertamina Geothermal Energy Tbk for the
PSS/EY Indonesia telah menerbitkan Laporan Hasil Interim 2025 period. KAP PSS/EY Indonesia has issued the Interim
atas Reporting Package/Informasi Keuangan untuk tanggal Report on the Reporting Package/Financial Information as of
30 September 2025 untuk periode 9 (Sembilan) bulan yang 30 September 2025 for the 9 (nine) month period ended on
berakhir pada tanggal tersebut telah disampaikan kepada that date, which was submitted to the Company through Letter
Perseroan melalui Surat No. 8418/PSS/2025 tanggal 28 No. 8418/PSS/2025 dated 28 November 2025. As of 31
November 2025. Sampai dengan 31 Desember 2025, December 2025, the audit process for the Consolidated
proses audit laporan keuangan Konsolidasi PGE Year End Financial Statements of PGE for the year ended 2025 is still
2025 sedang berjalan. ongoing.
Fungsi Konsultasi Consulting Function
Fungsi Internal Audit Perseroan juga melakukan fungsi konsultasi The Company’s Internal Audit Function also performs an audit
audit dalam bentuk pemberian pendapat/masukan atas suatu consulting function in the form of providing opinions and input
permasalahan yang memerlukan pandangan dari Fungsi Internal on issues that require the perspective of the Internal Audit
Audit dalam rapat-rapat pembahasan yang melibatkan Direksi/ Function in discussion meetings involving the Board of Directors/
Manajemen dan/atau seluruh fungsi. Pada tahun 2025, Fungsi Management and/or all functions. In 2025, the Internal Audit
Internal Audit telah memberikan jasa konsultatif terhadap 125 Function provided consultative services for 125 consultation
kegiatan konsultasi dengan 85 tema/judul konsultasi. activities covering 85 consultation themes or topics.
PT Pertamina Geothermal Energy Tbk
Page 387
Laporan Tahunan 2025 | 2025 Annual Report 385
Implementasi Manajemen Risiko Risk Management Implementation
Kegiatan yang dilaksanakan selama 2025 terkait pelaksanaan The activities carried out during 2025 in relation to the
Manajemen Risiko adalah: implementation of Risk Management include the following:
• Finalisasi penyusunan Risk Register Fungsi Internal Audit • Finalization of the preparation of the Internal Audit Function
periode Tahun 2025. Risk Register for the 2025 period.
• Penyusunan Usulan Risk Register Fungsi Internal Audit periode • Preparation of the proposed Risk Register of the Internal Audit
Tahun 2026. Function for the 2026 period.
• Pelaksanaan Monitoring Risk Management Tahun 2025 • Implementation of Risk Management monitoring for 2025
pada Fungsi Internal Audit pada setiap triwulan. within the Internal Audit Function on a quarterly basis.
• Keikutsertaan dalam Rapat Komite Manajemen Risiko setiap • Participation in the Risk Management Committee meetings
triwulan. held quarterly.
• Melaksanakan evaluasi untuk memastikan bahwa kegiatan • Conducting evaluations to ensure that the Company’s risk
manajemen risiko perusahaan telah berjalan dengan efektif management activities have been implemented effectively
dalam memberikan jaminan yang wajar terhadap pencapaian in providing reasonable assurance for the achievement
sasaran organisasi, yang dilaksanakan diantaranya melalui of organizational objectives, including through the
pelaksanaan penugasan audit berbasis risiko (risk based implementation of risk-based audit assignments.
audit).
Sharing Knowledge dan Continuous Knowledge Sharing and Continuous
Improvement Program (CIP) Improvement Program (CIP)
Fungsi Internal Audit berperan sebagai mitra strategis yang The Internal Audit Function acts as a strategic partner that supports
mendukung organisasi atau Perseroan dalam mencapai the organization or the Company in achieving its objectives.
tujuannya. Dengan pendekatan yang sistematis dan terstruktur, Through a systematic and structured approach, Internal Audit is
Internal Audit bertugas mengevaluasi serta meningkatkan responsible for evaluating and improving the effectiveness of risk
efektivitas dalam pengelolaan risiko, pengendalian, dan tata management, control, and governance processes.
kelola.
Untuk mewujudkan hal tersebut, Fungsi Internal Audit melakukan To support this objective, the Internal Audit Function conducted
kegiatan sharing knowledge, diantaranya adalah: several knowledge-sharing activities, including the following:
1. Kegiatan KOMET, pada tanggal 20 Maret 2025 dengan 1. KOMET activity held on 20 March 2025 with the theme
judul “Peran Fungsi Internal Audit dalam Mendukung Target “The Role of the Internal Audit Function in Supporting PGE’s
PGE’s 3 GW dengan Penerapan Risk Based Approach” 3 GW Target through the Implementation of a Risk-Based
Approach.”
2. Pembekalan Wawasan Fungsi Internal Audit berkolaborasi 2. Internal Audit Insight Enrichment program in collaboration
dengan Pertamina Corporate University (PCU) pada tanggal with Pertamina Corporate University (PCU) held on 17
17 Februari 2025. February 2025.
3. Kegiatan Pertamina Online Learning & Sharing (POLS) pada 3. Pertamina Online Learning & Sharing (POLS) activity held
tanggal 23 September 2025 dengan judul “Bedah Buku on 23 September 2025 with the theme “Book Review: ‘Nine
‘Sembilan Blok’ yang Wajib Dipahami untuk Bikin Audit Blocks’ that Must Be Understood to Make Auditing More
Lebih Hidup”. Engaging.”
4. Menjadi Pemateri dalam Sosialisasi Sistem Manajemen Anti 4. Serving as a speaker in the socialization of the Anti-Bribery
Penyuapan (SMAP), Fraud Risk Procurement Awareness Management System (SMAP), Fraud Risk Procurement
dan Pertamina Fraud Perception Survei (PERFECT) 2025 – Awareness, and the Pertamina Fraud Perception Survey
Vendor Day 2025 PGE Area Ulubelu dan PGE Lumut Balai di (PERFECT) 2025 – Vendor Day 2025 at PGE Area Ulubelu
Palembang pada tanggal 8 Desember 2025. and PGE Lumut Balai in Palembang on 8 December 2025.
Fungsi Internal Audit juga terlibat aktif dalam Forum CIP PGE The Internal Audit Function also actively participated in the
Geovation 2025 melalui FT Prove AKTUAL dengan judul PGE Geovation 2025 CIP Forum through the FT Prove AKTUAL
“Penilaian & Monitoring Atas Tindak Lanjut Hasil Temuan Audit initiative titled “Assessment and Monitoring of Follow-Up Actions
Secara Cepat & Tepat Sebagai Bentuk Continuous Improvement on Audit Findings in a Timely and Accurate Manner as a Form
Dalam Rangka Menjaga Sustainability Di PGE”. of Continuous Improvement to Maintain Sustainability at PGE.”
PT Pertamina Geothermal Energy Tbk
Page 388
386 Laporan Tahunan 2025 | 2025 Annual Report
Sinergi Kegiatan Dengan Internal Audit Synergy of Activities with the Internal
PT Pertamina (Persero) dan Pertamina Audit of PT Pertamina (Persero) and
NRE Pertamina NRE
Untuk mendorong terciptanya kapabilitas dan kapasitas To support the development of organizational capability
organisasi dalam melaksanakan tugas dan tanggung jawabnya, and capacity in carrying out its duties and responsibilities,
di tahun 2025 telah dilakukan beberapa sinergi kegiatan antara several synergistic activities were conducted in 2025 between
Internal Audit PGE dengan Internal Audit Holding (PT Pertamina the Internal Audit of PGE, the Internal Audit of the Holding
Persero) dan Internal Audit Pertamina NRE di antaranya: (PT Pertamina Persero), and the Internal Audit of Pertamina NRE,
including:
1. Pelaksanaan Periodic Quality Assurance Internal Audit 1. Implementation of the 2025 Periodic Quality Assurance of
Pertamina Group tahun 2025. Internal Audit within the Pertamina Group.
2. Penyusunan AAP dan Calendar of Event (COE) tahun 2026 2. Preparation of the 2026 Annual Audit Plan (AAP) and
di Subholding PNRE dan Internal Audit Pertamina Group. Calendar of Events (COE) within Subholding PNRE and the
Internal Audit of the Pertamina Group.
Fraud Prevention Campaign Fraud Prevention Campaign
Fungsi Internal Audit berkolaborasi dengan Fungsi Compliance The Internal Audit Function collaborated with the Compliance
dan Fungsi Kepatuhan Anti Penyuapan (FKAP) melaksanakan Function and the Anti-Bribery Compliance Function (FKAP) in
kegiatan Fraud Prevention Campaign, antara lain: conducting Fraud Prevention Campaign activities, including the
following:
1. Kegiatan sosialisasi fraud prevention & Whistleblowing 1. Conducting socialization activities on fraud prevention and
System (WBS) baik secara offline di beberapa area dan the Whistleblowing System (WBS), both offline at several
kantor pusat PGE dan secara online melalui kanal broadcast PGE operational areas and headquarters, as well as online
PGE setiap bulan. through PGE broadcast channels on a monthly basis.
2. Pelaksanaan assessment internal atas Sistem Manajemen 2. Conducting an internal assessment of the Anti-Bribery
Anti Penyuapan (SMAP). Management System (SMAP).
3. Pelaksanaan Pertamina Fraud Perception Survey (PERFECT) 3. Implementing the Pertamina Fraud Perception Survey
tahun 2025. (PERFECT) in 2025.
4. Bagian dari Tim Unit Pengendalian Gratifikasi, pelaksanaan 4. Participating as part of the Gratification Control Unit Team,
Assesment GCG, serta kegiatan-kegiatan lainnya. the implementation of the GCG Assessment, as well as other
related activities.
Pelatihan Internal Audit Internal Audit Training
Untuk meningkatkan kompetensi dan profesionalisme, personel To enhance competency and professionalism, Internal Audit
Internal Audit telah mengikuti pelatihan, seminar dan upskilling, personnel participated in various training programs, seminars,
di antaranya sebagai berikut: and upskilling activities, including the following:
Jumlah Peserta Waktu Pelaksanaan Jenis Pelatihan Penyelenggara
Number of Participants Implementation Date Training Type Organizer
1 orang 13-14 Januari 2025 Training Awareness Integrated Management System PT Pertamina Geothermal Energy Tbk
1 participant 13-14 January 2025 (IMS) ISO 9001, 14001, 45001
1 orang 21 Januari 2025 Training Awareness Sistem Manajemen Anti Penyuapan PT Pertamina Geothermal Energy Tbk
1 participant 21 January 2025 (SMAP) ISO 37001
Anti-Bribery Management System (SMAP) Awareness
Training ISO 37001
7 orang 11 Februari 2025 Workshop Corporate Action dan Pengelolaan Anak PT Pertamina Geothermal Energy Tbk
7 participants 11 February 2025 Perusahaan PT Pertamina Geothermal Energy Tbk
Workshop on Corporate Action and Subsidiary
Management of PT Pertamina Geothermal Energy Tbk
1 orang 12 Februari 2025 Training Awareness Business Continuity Management
1 participant 12 February 2025 System (BCMS) ISO 22301:2019
PT Pertamina Geothermal Energy Tbk
2 orang 22 April 2025 Awareness Business Continuity Management System
2 participants (BCMS) ISO 22301:2019 Training
PT Pertamina Geothermal Energy Tbk
Page 389
Laporan Tahunan 2025 | 2025 Annual Report 387
Jumlah Peserta Waktu Pelaksanaan Jenis Pelatihan Penyelenggara
Number of Participants Implementation Date Training Type Organizer
2 orang 16 Mei 2025 Sosialisasi Modul BCM (Business Continuity Management) PT Pertamina Geothermal Energy Tbk
2 participants 16 May 2025 di Enterprise Risk Management System (ERMS) dan
Refreshment Penyusunan Dokumen Business Continuity
Management System (BCMS)
Socialization of the BCM (Business Continuity
Management) Module in the Enterprise Risk Management
System (ERMS) and Refreshment Training on the
Preparation of BCMS Documents
12 orang 4 Juni 2025 Training Aspek Teknis Material dan Fabrikasi Wellhead PT Pertamina Geothermal Energy Tbk
12 participants 4 June 2025 untuk Sumur Geothermal
Training on Technical Aspects of Materials and Wellhead
Fabrication for Geothermal Wells
2 orang 19 Juni 2025 Auditor Academy Triwulan II 2025 Pertamina Corporate University (PCU)
2 participants 19 June 2025
Auditor Academy Q2 2025
1 orang 21-25 Juli 2025 Pendidikan dan Pelatihan Probity Audit Pengadaan Pusat Pendidikan dan Pelatihan
1 participant 21-25 July 2025 Barang dan Jasa dan Dispute di Lingkungan PT Pertamina Pengawasan BPKP
(Persero)
Education and Training on Probity Audit for Procurement
of Goods and Services and Dispute Handling within PT
Pertamina (Persero)
3 orang 27-28 Agustus 2025 The Institute of Internal Auditors (IIA) Indonesia National The Institute of Internal Auditors (IIA)
3 participants 27-28 August 2025 Conference 2025 Indonesia
3 orang 16 September 2025 Auditor Academy Triwulan III 2025 Pertamina Corporate University (PCU)
3 participants
Auditor Academy Q3 2025
8 orang 29-30 Oktober 2025 Internal Control over Financial Reporting (ICoFR) Training PricewaterhouseCoopers (PwC)
8 participants 29-30 October 2025 Indonesia
1 orang 1-5 Desember 2025 Program Pelatihan Certified Information Systems Auditor Pertamina Corporate University (PCU)
1 participant 1-5 December 2025 (CISA)
Certified Information Systems Auditor (CISA) Training
Program
Rapat Internal Audit Internal Audit Meetings
Fungsi Internal Audit melaksanakan rapat dengan Direksi, The Internal Audit Function holds meetings with the Board
Dewan Komisaris dan/atau Komite Audit setiap triwulan atau of Directors, the Board of Commissioners, and/or the Audit
sesuai kebutuhan. Sepanjang tahun 2025, Fungsi Internal Audit Committee on a quarterly basis or as required. Throughout 2025,
telah melaksanakan rapat dengan Direksi, Dewan Komisaris the Internal Audit Function conducted 13 (thirteen) meetings with
dan/atau Komite Audit sebanyak 13 (tiga belas) kali dengan the Board of Directors, the Board of Commissioners, and/or the
rincian sebagai berikut: Audit Committee, with the following details:
Triwulan Tanggal Perihal Peserta
Triwulan Date Agenda Participants
I 20 Januari 2025 Rapat Gabungan Komite Audit dengan Internal Audit CAE dan Komite Audit
20 January 2025 Meeting of the Audit Committee and Internal Audit CAE and Audit Committee
24 Februari 2025 Rapat Gabungan Komite Audit dengan Internal Audit CAE dan Komite Audit
24 February 2025 Meeting of the Audit Committee and Internal Audit CAE and Audit Committee
II 2 Juni 2025 Rapat Gabungan Komite Audit dengan Internal Audit CAE dan Komite Audit
2 June 2025 Meeting of the Audit Committee and Internal Audit CAE and Audit Committee
PT Pertamina Geothermal Energy Tbk
Page 390
388 Laporan Tahunan 2025 | 2025 Annual Report
Triwulan Tanggal Perihal Peserta
Triwulan Date Agenda Participants
III 14 Agustus 2025 Rapat Gabungan Komite Audit dengan Internal Audit CAE dan Komite Audit
14 August 2025 Meeting of the Audit Committee and Internal Audit CAE and Audit Committee
28 Agustus 2025 Rapat Gabungan Dewan Komisaris, Komite Audit, dan Internal CAE, Dewan Komisaris, dan Komite Audit
28 August 2025 Audit CAE, Board of Commissioners, and Audit
Joint Meeting of the Board of Commissioners, Audit Committee, Committee
and Internal Audit
8 September 2025 Rapat Gabungan Komite Audit dengan Internal Audit CAE dan Komite Audit
Meeting of the Audit Committee and Internal Audit CAE and Audit Committee
IV 28 Oktober 2025 Rapat Gabungan Komite Investasi dan Manajemen Risiko CAE, KIMR, dan Komite Audit
28 October 2025 (KIMR), Komite Audit, dan Internal Audit CAE, KIMR, and Audit Committee
Joint Meeting of the Investment and Risk Management Committee
(KIMR), Audit Committee, and Internal Audit
11 November 2025 Rapat Gabungan Board of Director dengan Internal Audit CAE dan Board of Director
Meeting of the Board of Directors and Internal Audit CAE and Board of Director
18 November 2025 Rapat Gabungan Komite Audit dengan Internal Audit CAE dan Komite Audit
Meeting of the Audit Committee and Internal Audit CAE and Audit Committee
29 November 2025 Rapat Koordinasi Internal Audit Subholding Power & New CAE PGE, Komite Audit PGE, CAE Pertamina
Renewable Energy PT Pertamina tahun 2025 NRE, dan Komite Audit Pertamina NRE
Coordination Meeting of Subholding Power & New Renewable CAE PGE, Audit Committee PGE, CAE
Energy PT Pertamina 2025 Pertamina NRE, and Audit Committee
Pertamina NRE
11 Desember 2025 Rapat Gabungan Komite Audit dengan Internal Audit CAE dan Komite Audit
11 December 2025 Meeting of the Audit Committee and Internal Audit CAE and Audit Committee
12 Desember 2025 Rapat Gabungan Komite Audit, Fungsi Controlling & Reporting, CAE, VP Controlling & Reporting dan Komite
12 December 2025 dan Internal Audit Audit
Joint Meeting of the Audit Committee, Controlling & Reporting CAE, VP Controlling & Reporting, and Audit
Function, and Internal Audit Committee
Temuan dan Tindak Lanjut Hasil Audit Audit Findings and Follow-up Actions
Fungsi Internal Audit telah melakukan pemantauan atas tindak The Internal Audit Function has conducted periodic monitoring of
lanjut temuan audit secara periodik untuk memastikan realisasi the follow-up actions on audit findings to ensure that the agreed
tindak lanjut temuan-temuan audit telah ditindaklanjuti sesuai corrective actions have been implemented in accordance with
komitmen. Jumlah temuan audit dan tindak lanjutnya sepanjang the commitments made. The number of audit findings and their
tahun 2025 adalah sebagai berikut: follow-up actions throughout 2025 are as follows:
YTD*) YTD*)
Keterangan Desember 2025
No. November 2025 Desember 2025
Description December 2025
November 2025 December 2025
1 Outstanding Rekomendasi per Januari 2025
40
Outstanding Recommendations as of January 2025
2 Tambahan Rekomendasi Tahun 2025
- 23 23
Additional Recommendations in 2025
3 Penyelesaian Rekomendasi Tahun 2025
40 0 40
Completed Recommendations in 2025
4 Saldo Akhir Rekomendasi Tahun 2025
23
Ending Balance of Recommendations in 2025
4.a. Melebihi end date
0
Exceeded the end date
4.b. Belum melebihi end date
23
Not yet exceeded the end date
*) YTD: Year to Date
Selama tahun 2025, jumlah rekomendasi audit yang telah Throughout 2025, a total of 66 (sixty-six) audit recommendations
diberikan sebanyak 66 (enam puluh enam) rekomendasi. were issued. Of these, 40 (forty) recommendations, or 63.5%,
Sebanyak 40 (empat puluh) rekomendasi atau 63,5% telah have been followed up, leaving 23 recommendations still in the
ditindaklanjuti, sehingga rekomendasi yang masih dalam proses process of follow-up as of 31 December 2025 (within the agreed
tindak lanjut per 31 Desember 2025 sebanyak 23 rekomendasi end date).
(belum melebihi batas waktu yang disepakati end date).
PT Pertamina Geothermal Energy Tbk
Page 391
Laporan Tahunan 2025 | 2025 Annual Report 389
Auditor Eksternal
External Auditor
Penunjukan Kantor Akuntan Publik Appointment of the Public Accounting
Firm
Berdasarkan Keputusan Rapat Umum Pemegang Saham Tahunan Based on the resolution of the Annual General Meeting of
(RUPST) tanggal 3 Juni 2025, Perseroan telah menetapkan Shareholders (AGMS) held on June 3, 2025, the Company
Kantor Akuntan Publik (KAP) Purwanto, Susanti dan Surja (Ernst appointed the Public Accounting Firm (KAP) Purwanto, Susanti
& Young) sebagai Akuntan Publik yang akan melakukan audit and Surja (Ernst & Young) as the Independent Auditor to conduct
Laporan Keuangan Konsolidasian Perseroan untuk tahun buku the audit of the Company’s Consolidated Financial Statements for
yang berakhir 31 Desember 2025. the financial year ending 31 December 2025.
Koordinasi Kantor Akuntan Publik Coordination of the Public Accounting
dengan Komite Audit dan Internal Audit Firm with the Audit Committee and
Internal Audit
Dalam proses pelaksanaan audit, Auditor Eksternal berkoordinasi In the course of the audit process, the External Auditor coordinates
dengan Fungsi Internal Audit dan fungsi Controlling & Reporting with the Internal Audit Function and communicates with the Audit
melakukan komunikasi dengan Komite Audit. Dalam hal Committee. When necessary, the External Auditor presents the
dibutuhkan, Auditor Eksternal menyampaikan hasil pelaksanaan results of the audit to the Board of Commissioners and the Board
audit kepada Dewan Komisaris dan Direksi melalui rapat of Directors through joint meetings of the Board of Commissioners
gabungan Dewan Komisaris dan Direksi. and the Board of Directors.
Kantor Akuntan Publik dan Akuntan Publik Periode 5 tahun terakhir
Public Accounting Firms and Public Accountants for the last 5 years
Tahun
Nama Kantor Akuntan Publik (KAP) Periode KAP Akuntan Publik (AP) Periode AP
Buku Fee
Name of Public Accounting Firm KAP Period Public Accountant AP Period
Year
2025 KAP Purwanto Susanti dan Surja Ke - 1 Irwan Haswir Ke - 5 Rp2.175.000.000
2024 KAP Purwantono, Sungkoro dan Surja Ke - 5 Irwan Haswir Ke - 4 Rp2.020.000.000
2023 KAP Purwantono, Sungkoro dan Surja Ke - 4 Irwan Haswir Ke - 3 Rp1.743.000.000
2022 KAP Purwantono, Sungkoro dan Surja Ke - 3 Irwan Haswir Ke - 2 Rp1.425.000.000
2021 KAP Purwantono, Sungkoro dan Surja Ke - 2 Irwan Haswir Ke - 1 Rp842.597.000
Penjelasan mengenai biaya (fee) akuntan dan jasa lain yang Information regarding the fees of the Public Accountant and other
diberikan dapat dilihat pada bab Profil Perusahaan dalam services provided can be found in the Company Profile chapter
Laporan Tahunan ini. of this Annual Report.
Jasa Lain Yang Diberikan Kantor Other Services Provided by Public
Akuntan Publik dan Akuntan Publik Accounting Firms and Public Accountants
KAP Purwanto Susanti dan Surja dan Akuntan Publik tidak KAP Purwanto Susanti and Surja and Public Accountants do not
memberikan jasa lain selain audit laporan keuangan. provide services other than auditing financial statements.
PT Pertamina Geothermal Energy Tbk
Page 392
390 Laporan Tahunan 2025 | 2025 Annual Report
Sistem Pengendalian Internal
Internal Control System
Penerapan sistem pengendalian internal bertujuan untuk The implementation of the internal control system aims to establish
menciptakan dasar yang kokoh dalam kegiatan operasional, a solid foundation for operational activities, particularly in the
khususnya dalam hal pengelolaan aset, identifikasi dan mitigasi management of assets, identification and mitigation of business
risiko usaha, serta kepatuhan terhadap peraturan yang berlaku. risks, and compliance with applicable regulations. Internal control
Pengendalian internal di PGE meliputi pengelolaan risiko at PGE covers the management of financial and operational risks,
finansial, operasional, dampak lingkungan, hingga penerapan environmental impacts, as well as regulatory compliance. The
peraturan. Fungsi pengendalian internal Perseroan dilakukan Company’s internal control function is carried out bythe Internal
oleh Fungsi Internal Audit. Audit Function.
Tujuan penerapan kerangka pengendalian internal adalah: The objectives of implementing the internal control framework are
as follows:
1. Menjamin semua kegiatan usaha telah dilaksanakan sesuai 1. To ensure that all business activities have been carried out in
dengan ketentuan dan peraturan perundang-undangan yang accordance with applicable laws and regulations, including
berlaku, baik ketentuan yang dikeluarkan oleh Pemerintah those issued by the Government and supervisory authorities,
maupun otoritas pengawas, serta kebijakan, ketentuan, dan as well as the internal policies, provisions, and procedures
prosedur internal yang ditetapkan oleh Perseroan. established by the Company.
2. Menyediakan laporan yang benar, lengkap, dan tepat waktu 2. To provide accurate, complete, and timely reports to support
dalam rangka pengambilan keputusan yang relevan dan relevant and accountable decision-making.
dapat dipertanggung jawabkan.
3. Meningkatkan efektivitas dan efisiensi dalam menggunakan 3. To enhance effectiveness and efficiency in the utilization of
aset dan sumber daya lainnya dalam rangka melindungi assets and other resources in order to protect the Company
Perseroan dari risiko kerugian. from the risk of losses.
4. Mengidentifikasi kelemahan dan menilai penyimpangan 4. To identify weaknesses and assess deviations at an early
secara dini dan menilai kembali kewajaran kebijakan stage, and to continuously evaluate the adequacy of the
dan prosedur yang ada di dalam Perseroan secara policies and procedures implemented within the Company.
berkesinambungan.
Kebijakan Sistem Pengendalian Internal Internal Control System Policy
Pelaksanaan sistem Pengendalian Internal di lingkungan The implementation of the Internal Control System within the
Perseroan mengacu pada Peraturan Menteri BUMN No. PER- Company refers to the Regulation of the Minister of SOEs No.
2/MBU/03/2023 tentang Pedoman Tata Kelola dan Kegiatan PER-2/MBU/03/2023 concerning Guidelines on Governance
Korporasi Signifikan Badan Usaha Milik Negara dan ketentuan and Significant Corporate Activities of State-Owned Enterprises,
internal berikut: as well as the following internal provisions:
1. Board Manual pada Bab Direksi tentang Sistem Pengendalian 1. Board Manual, Chapter on the Board of Directors regarding
Internal. the Internal Control System.
2. Pedoman Pengelolaan Audit Executive PT PGE Tbk 2. Guidelines for the Management of the Audit Executive
No. A-001/ PGE700/2025-S9 Tanggal 20 Mei 2025. Function of PT PGE Tbk No. A-001/PGE700/2025-S9 dated
20 May 2025.
3. Pedoman Pengelolaan Fungsi Internal Audit PT Pertamina 3. Guidelines for the Management of the Internal Audit Function
(Persero) No. A9.5-01/J00000/2025-S9 Revisi Ke-0 of PT Pertamina (Persero) No. A9.5-01/J00000/2025-S9
Tanggal 16 Juli 2025. Revision 0 dated 16 July 2025.
4. Pedoman Pengelolaan Pengaduan No. A9-001/ 4. Guidelines for Complaint Handling No. A9-001/
J00000/2022-S9 revisi 0 Pertamina Investigation Audit, J00000/2022-S9 Revision 0 on Pertamina Investigation
WBS & Fraud Prevention Tanggal 19 Januari 2022. Audit, Whistleblowing System (WBS) & Fraud Prevention
dated 19 January 2022.
5. Piagam Internal Audit tanggal 12 Desember 2024. 5. Internal Audit Charter dated 12 December 2024.
6. Kode Etik Internal Audit. 6. Internal Audit Code of Ethic
PT Pertamina Geothermal Energy Tbk
Page 393
Laporan Tahunan 2025 | 2025 Annual Report 391
Direksi bertanggung jawab untuk menetapkan suatu Sistem The Board of Directors is responsible for establishing an effective
Pengendalian Internal yang efektif. Sistem Pengendalian Internal Internal Control System. An effective Internal Control System
yang efektif dapat mengamankan investasi dan aset Perseroan, safeguards the Company’s investments and assets, ensures
menjamin tersedianya pelaporan keuangan dan manajerial yang the availability of reliable financial and managerial reporting,
dapat dipercaya, meningkatkan kepatuhan Perseroan terhadap enhances the Company’s compliance with applicable laws and
ketentuan dan peraturan perundang-undangan yang berlaku, regulations, and reduces the risk of losses, irregularities, and
serta mengurangi risiko terjadinya kerugian, penyimpangan dan violations of prudential principles.
pelanggaran aspek kehati-hatian.
Aspek Pengendalian Internal Internal Control Aspects
Beberapa hal yang termasuk dalam aspek atau ruang lingkup Several matters included in the aspects or scope of internal
pengendalian internal adalah: control are as follows:
• Melakukan kajian atau review sistem pengendalian internal • Conducting reviews of the Company’s internal control
perusahaan yang meliputi pemisahan fungsi, pemenuhan system, including the segregation of functions, fulfillment
kualifikasi pekerja yang menduduki fungsi-fungsi tersebut, of qualifications for personnel occupying those functions,
pendokumentasian melalui sistem atas seluruh pencatatan, documentation through systems covering all records,
transaksi dan hubungan antar fungsi, dan tingkat konsistensi transactions, and inter-functional relationships, as well as
atas penerapannya serta pengambilan langkah-langkah assessing the level of consistency in their implementation and
perbaikannya. taking necessary corrective actions.
• Mengevaluasi sistem pengendalian internal yang berlaku di • Evaluating the internal control system implemented within
Perseroan dengan praktik-praktik yang berlaku di Pertamina the Company against practices applied within the Pertamina
Group dan yang berlaku umum. Group and generally accepted practices.
• Mengevaluasi sistem pelaporan keuangan serta pelaporan • Evaluating the financial reporting system as well as operational
operasi dan proyek yang dilaksanakan dalam perusahaan and project reporting carried out within the Company by
dengan mengefektifkan sistem Teknologi Informasi (TI). optimizing the use of Information Technology (IT) systems.
PT Pertamina Geothermal Energy Tbk
Page 394
392 Laporan Tahunan 2025 | 2025 Annual Report
Kerangka Sistem Pengendalian Internal Internal Control System Framework
Lingkungan pengendalian internal
Internal control environment
a. Integritas, nilai etika, dan kompetensi pekerja a. Integrity, ethical values, and competency of
b. Filosofi dan gaya manajemen workers
c. Cara yang ditempuh manajemen dalam b. Management philosophy and style
melaksanakan kewenangan dan tanggung c. The manner in which the management exercises
jawabnya its authorities and responsibilities
d. Pengorganisasian dan pengembangan sumber d. Human capital organization and development
daya manusia
e. Perhatian dan arahan yang dilakukan oleh e. Attention and directives given by the Board of
Direksi. Directors
Pengkajian dan pengelolaan risiko usaha
Business risk assessment and management
Proses untuk mengidentifikasi, menganalisis, menilai Process for identifying, analyzing, assessing, and
dan mengelola risiko usaha yang relevan. managing relevant business risks.
Aktivitas pengendalian
Control activities
Tindakan-tindakan yang dilakukan dalam suatu Actions taken in a process of controlling the
proses pengendalian terhadap kegiatan Perseroan Company’s activities at every level and unit in the
pada setiap tingkat dan unit dalam struktur Company’s organizational structure on authority,
organisasi Perseroan mengenai, kewenangan, authorization, verification, reconciliation, assessment
otorisasi, verifikasi, rekonsiliasi, penilaian atas of work performance, division of tasks, and security
prestasi kerja, pembagian tugas dan keamanan of the Company’s assets.
terhadap aset Perseroan.
Sistem informasi dan komunikasi
Information and communication systems
Proses penyajian laporan mengenai kegiatan Process of presenting reports on operational
operasional, finansial, dan ketaatan atas ketentuan. activities, finances, and compliance with regulations.
Monitoring
Monitoring
Proses penilaian terhadap kualitas sistem Process of assessing the quality of the internal control
pengendalian internal termasuk, Fungsi Audit system, including the Audit Executive Function at
Executive pada setiap tingkat dan unit struktur every level and unit of the Company’s organizational
organisasi Perseroan, sehingga dapat dilaksanakan structure, so that it can be implemented optimally
secara optimal dengan ketentuan bahwa provided that any deviation is reported to the Board
penyimpangan yang terjadi dilaporkan kepada of Directors and a copy is submitted to the Board
Direksi dan tembusannya disampaikan kepada of Commissioners to be forwarded to the Audit
Dewan Komisaris untuk diteruskan kepada Komite Committee.
Audit.
PT Pertamina Geothermal Energy Tbk
Page 395
Laporan Tahunan 2025 | 2025 Annual Report 393
Pengendalian Internal atas Kegiatan Internal Control Over Operational
Operasional Activities
Pengendalian operasional Perseroan disusun dengan The Company’s operational control is prepared by adjusting to the
menyesuaikan RKAP dan kinerja tiap lini operasional untuk Company’s Work Plan and Budget (RKAP) and the performance of
memaksimalkan hasil kegiatan operasional di masing-masing each operational lines to maximize the result of each operational
bidang Perseroan sesuai dengan Uraian Tugas Pokok (UTP) dan activities in each area of the Company in accordance with the
Uraian Penilaian Jabatan (UPJ). Main Task Description (UTP) and the Position Assessment
Description (UPJ).
Dalam prosesnya Fungsi Enterprise Risk Management (ERM) akan In the process, the Enterprise Risk Management (ERM) Function
menyusun profil risiko operasional Perseroan, baik di setiap unit will develop the Company’s operational risk profile, both in
maupun secara perorangan. Kemudian seluruh laporan mengenai each unit and individual level. Then, all reports related to the
kegiatan operasional tersebut akan disampaikan kepada Direksi operational activities are submitted to the Board of Directors in
dalam bentuk laporan berkala dan dibahas di dalam agenda the form of a periodic report and are discussed in the agenda
rapat Direksi, sebagai bagian dari sistem pengendalian internal. of the Board of Directors meeting, as part of the internal control
systems.
Perseroan menerapkan metodologi Risk-Based Audit (RBA) yang The Company implements the Risk-Based Audit (RBA), which
mengatur prinsip-prinsip Internal Audit dalam menjalankan regulates the principles of the Audit Executive in performing
aktivitas pengendalian internal yang berfokus kepada identifikasi, internal control activities that focus on the identification,
penilaian, mitigasi, dan pemantauan risiko seluruh proses bisnis assessment, mitigation, and monitoring of risks throughout the
Perseroan. RBA memperhatikan seluruh aspek dari pendekatan Company’s business processes. The RBA considers all aspects of
Fungsi Internal Audit serta keselarasan dalam mengelola dan the Audit Executive Function’s approach as well as its alignment
menangani risiko yang teridentifikasi. in managing and addressing identified risks.
Ilustrasi penerapan metodologi Risk- Illustration of the application of the RBA
Based Audit (RBA) methodology
DEVELOP
Macro DEVELOP AUDIT DETERMINE
ANNUAL
Level UNIVERSE AUDITABLE
AUDIT PLAN
PLAN CONDUCT REPORT FOLLOW UP
Improvement Program
Quality Assuarance &
PRELIMINARY AUDIT MONITOR &
ENTRY MEETING
SURVEY DEVELOP AUDIT VALIDATE
Entry Meeting
Preliminary Survey Report ACTION PLAN
DETERMINE FIELDWORK COMMUNICATE
Micro Level AUDIT FOCUS (TESTING) AUDIT REPORT
DEVELOP
ISSUE
AUDIT
VALIDATION
PROGRAM
DEVELOP AUDIT
PLANNING EXIT
MEMORANDUM MEETING
ASSIGNMENT LETTER
AUDIT MANAGEMENT SYSTEM
POLICIES AND PROCEDURES
PT Pertamina Geothermal Energy Tbk
Page 396
394 Laporan Tahunan 2025 | 2025 Annual Report Pengendalian Internal atas Kegiatan Internal Control over Financial Activities Keuangan Pengendalian internal atas pelaporan keuangan atau Internal Internal Control over Financial Reporting (ICoFR) refers to Control over Financial Reporting (ICoFR) adalah sistem an internal control system designed to minimize the risk of pengendalian internal yang dirancang untuk meminimalkan misstatements in the Company’s Financial Statements. kesalahan penyajian Laporan Keuangan. Pengendalian internal atas pelaporan keuangan tersebut Internal controls over financial reporting are performed to obtain dilakukan untuk mendapatkan keyakinan yang memadai reasonable assurance that the financial reporting process is (reasonable assurance) bahwa proses penyusunan Laporan supported by effective controls that comply with systems and Keuangan telah didukung pengendalian yang efektif sesuai regulations. The implementation and reporting of ICoFR used by dengan sistem dan ketentuan. Penerapan dan pelaporan the Company has been set as a KPI for several functions of the ICoFR yang digunakan Perseroan telah ditetapkan sebagai KPI Company. beberapa fungsi Perseroan. Dalam menjalankan perannya sebagai third line (pendekatan In performing its role as the third line of defense (three lines model three lines model) dalam implementasi ICoFR di Perseroan, approach) in implementing the ICoFR within the Company, the Fungsi Internal Audit bertanggung jawab melakukan pengujian Audit Executive Function is responsible for conducting independent secara independen dan menyeluruh atas efektivitas rancangan and thorough testing on the effectiveness of the design and dan pelaksanaan pengendalian internal pada proses pelaporan implementation of internal controls on the financial reporting keuangan serta memberikan rekomendasi untuk perbaikan proses process as well as providing recommendations for improving the pengendalian internal atas keandalan laporan keuangan. Fungsi internal control process on the reliability of financial statement. Internal Audit melakukan pengujian independen atas rancangan The Audit Executive Function conducts independent testing on the dan pelaksanaan ICoFR dengan menggunakan metodologi RBA. design and implementation of ICoFR using the RBA methodology. Pelaksanaan pengujian ICoFR Audit meliputi evaluasi atas The implementation of the ICoFR audit testing includes an pengendalian pada level entitas atau Entity Level Control (ELC), evaluation of controls at the entity level or Entity Level Controls pengendalian pada level IT General Controls (ITGC), dan (ELC), Information Technology General Controls (ITGC), and pengendalian pada level transaksi atau Transactional Level transaction-level controls or Transactional Level Controls (TLC). Control (TLC) untuk siklus bisnis Expenditure, Revenue, Fixed Asset, These cover business cycles such as Expenditure, Revenue, Taxation, Treasury, Human Resources & Payroll, Inventory Hydro, Fixed Assets, Taxation, Treasury, Human Resources & Payroll, Inventory NonHydro, Financial Closing & Reporting, dan siklus Hydro Inventory, Non-Hydro Inventory, Financial Closing & signifikan lainnya, seiring dengan perkembangan perusahaan, Reporting, as well as other significant cycles in line with the yang secara langsung atau tidak langsung mempengaruhi Company’s development, which directly or indirectly affect pelaporan keuangan. Dengan demikian, fokus utama pengujian financial reporting. Accordingly, the primary focus of the ICoFR ICoFR adalah pengelolaan risiko yang berdampak pada testing is on managing risks that may impact the reliability of the keandalan Laporan Keuangan Perseroan. Company’s Financial Statements. PT Pertamina Geothermal Energy Tbk
Page 397
Laporan Tahunan 2025 | 2025 Annual Report 395
Skema Pengendalian Internal Pada Proses Pelaporan Keuangan
Scheme of Internal Controls on the Financial Reporting Process
PLAN Conduct Report
Assess ELC design
Entity Level Identify Identify
and operating
Control (ELC) Financial Risks Relevant ELC
effectiveness
Assess ITGC design
IT General Identify Identify
and operating
Control (ITGC) Financial Risks Relevant ITGC
effectiveness
ICoFR Audit Report
Determine Significan Evaluate Key Control
Subsidiaries Design Effectivenesse
Determine Significant Evaluate Key Control
Accounts and Disclosure Operating Effectivenesse
Transactional
Level Control
Determine Significant
Determine Control
Business Process and Its
Deficienciesl Risksl
Key Financial Risksl
Identify Existing Key Monitor Control
Control Remediation
Determine
Evaluate Effectiveness
Significant
of Remediated Controls
Location
PT Pertamina Geothermal Energy Tbk
Page 398
396 Laporan Tahunan 2025 | 2025 Annual Report
Kesesuaian Dengan Kerangka Compliance with the Committee of
Committee Of Sponsoring Organizations Sponsoring Organizations (COSO)
(COSO) Framework
Fungsi Internal Audit telah mempertimbangkan kualitas The Audit Internal Function has taken into account the quality
pengendalian internal atas entitas/kegiatan/ program yang of internal control over the entities/activities/ programs to
akan diperiksa menggunakan 5 (lima) komponen Sistem be examined using the 5 (five) components of the Internal
Pengendalian Internal (SPI) yang dikemukakan oleh COSO, Control Systems (SPI) proposed by the COSO, namely control
yaitu lingkungan pengendalian, penilaian risiko, aktivitas environment, risk assessment, control activities, communication
pengendalian, komunikasi dan informasi, serta monitoring dan and information, as well as monitoring and identification of
identifikasi potensi terjadinya kecurangan. potential frauds.
Kepatuhan Terhadap Peraturan Compliance with Laws and Regulations
Perundang-undangan
Untuk memastikan kepatuhan terhadap peraturan perundang- To ensure its compliance with laws and regulations, PGE employs
undangan, PGE menggunakan Regulatory Compliance System the Regulatory Compliance Systems (RCS), an integrated and
(RCS) yaitu sistem yang telah terintegrasi dan berbasis digital digital-based system to identify and evaluate the organization of
untuk melaksanakan identifikasi dan evaluasi penataan peraturan regulations within the Company.
perundangan di lingkungan Perseroan.
Agar sistem tersebut dapat berjalan dengan baik, PGE telah To ensure the system operates effectively, PGE has established
membentuk Tim Pengelola RCS yang bertugas melakukan an RCS Management Team responsible for identifying and
identifikasi dan evaluasi penataan peraturan perundangan, serta evaluating the organization of regulations, as well as monitoring
melakukan monitoring dalam pelaksanaan kepatuhan peraturan the implementation of regulatory compliance in operational
di dalam kegiatan operasional dan proses bisnis, sesuai tugas activities and business processes in accordance with their
pokok fungsi masing-masing. respective roles and duties.
Tim Pengelola RCS beranggotakan Pekerja PGE dari berbagai The RCS Management Team consists of PGE Employees from
lintas fungsi (cross function) dan Fungsi Legal & Compliance various cross function departments, with the Legal & Compliance
sebagai koordinator. function serving as the coordinator.
Evaluasi Terhadap Efektivitas Sistem Evaluation on the Effectiveness of
Pengendalian Internal Internal Control System
Evaluasi pelaksanaan sistem pengendalian internal diaplikasikan The evaluation of the implementation of the internal control system
pada beberapa hal, khususnya pengujian ICoFR di dalam is applied to several matters, especially in testing the ICoFR
Perseroan. Pengujian dilakukan oleh Internal Audit secara within the Company. Tests are conducted by the Audit Executive
independen dengan pendekatan three line model untuk menguji independently using a three lines model approach to assess the
efektivitas sistem pengendalian Perseroan. effectiveness of the Company’s internal control system.
Pengujian penerapan ICoFR tersebut memberikan keyakinan The ICoFR implementation test provides reasonable assurance that
yang memadai bahwa potensi control deficiency dan significant potential control control deficiencies and significant deficiencies
deficiency dapat diidentifikasi dan diperbaiki melalui peningkatan can be identified and corrected by improving the accuracy of the
akurasi Risk Control Matrix (RCM) dan Business Process Model Risk Control Matrix (RCM) and Business Process Model (BPM).
(BPM).
Selanjutnya, hasil dari penilaian tersebut akan dilaporkan kepada Furthermore, the results of the assessment will be reported to
Direksi untuk kemudian disampaikan kepada Dewan Komisaris, the Board of Directors and subsequently submitted to the Board
serta Komite Audit dan Manajemen Risiko guna ditinjau kembali. of Commissioners, as well as the Audit and Risk Management
Committee for review.
PT Pertamina Geothermal Energy Tbk
Page 399
Laporan Tahunan 2025 | 2025 Annual Report 397
DEWAN PENGAWAS | GOVERNING BODY
Akuntabilitas kepada para pemangku kepentingan untuk pengawasan organisasi
Accountability to stakeholders for organizational oversight
Peran badan pengawas: integritas, kepemimpinan, dan transparansi
Governing body roles: integrity, leadership, and transparency
PENYEDIA JASA ASURANS EKSTERNAL
EXTERNAL ASSURANCE PROVIDERS
MANAJEMEN | MANAGEMENT
AUDIT INTERNAL
Tindakan (termasuk mengelola risiko) untuk
INTERNAL AUDIT
mencapai tujuan organisasi
Asurans independen
Actions (including managing risk) to achieve organizational
Independent assurance
objectives
Peran lapis pertama: Peran lapis kedua: Peran lapis ketiga:
Penyediaan produk/ Keahlian, dukungan, Asurans dan saran yang
layanan kepada klien; pemantauan, dan independen dan obyektif atas
mengelola risiko. tantangan dalam semua hal yang terkait dengan
hal-hal yang berkaitan pencapaian tujuan.
First line roles: dengan risiko.
Provision of products/ Third line roles:
services to clients; Second line roles: Independent and objective
managing risk. Expertise, support, assurance and advice on all
monitoring and matters related to the achievement
challenge on risk- of objectives managing risk.
related matters.
KATA KUNCI: Akuntabilitas, pelaporan Pendelegasian, arahan, Penyelarasan, koordinasi
KEY: Accountability, reporting sumber daya, pengawasan komunikasi, kolaborasi
Delegation, direction, Alignment, communication
resources, oversight coordination, collaboration
Evaluasi pelaksanaan sistem pengendalian internal pada The evaluation of the internal control system in operational
kegiatan operasional dilaksanakan melalui pelaksanaan audit activities is conducted through the implementation of operational
operasional dan audit dengan tujuan tertentu. Hal-hal yang audits and audits with specific objectives. Matters of concern in
menjadi perhatian dalam aktivitas pelaksanaan audit: audit implementation activities are as follows:
1. Pelaksanaan test of control sesuai program audit meliputi: 1. Implementation of a control test in accordance with the audit
a. Penentuan sampel pengujian, di mana metode pemilihan program includes:
dan pengambilan sampel pengujian mengacu kepada a. Determining test samples, in which the method of selection
ketentuan dalam Pedoman Pengelolaan Internal Audit. and sampling of the test refers to the provisions in the
Audit Internal Management Manual.
b. Pengujian atas atribut pengendalian pada sampel yang b. Testing control attributes on a predetermined sample to
telah ditentukan, untuk menilai efektivitas rancangan assess the effectiveness of the control design.
pengendalian.
2. Pelaksanaan substantive test sesuai program audit dilakukan 2. Substantive test in accordance with the audit program is
untuk mendeteksi terjadinya risiko yang disebabkan oleh conducted to detect the occurrence of risk caused by control
kelemahan pengendalian. weaknesses.
3. Penambahan langkah pengujian saat pelaksanaan audit 3. Additional testing steps during fieldwork may be implemented
(fieldwork) dapat dilakukan dengan tujuan untuk mendukung to support conclusions regarding the effectiveness of controls.
kesimpulan atas efektivitas pengendalian.
PT Pertamina Geothermal Energy Tbk
Page 400
398 Laporan Tahunan 2025 | 2025 Annual Report
Peran Fungsi Internal Audit dalam memberikan nilai tambah dan The Audit Executive Function’s role in providing added value and
meningkatkan kinerja Perseroan memungkinkan manajemen improving the Company’s performance enables management
mengajukan sejumlah permintaan khusus berupa jasa konsultasi to submit a number of special requests in the form of informal
informal dan partisipasi dalam rapat manajemen. Fungsi Internal consulting services and participation in management meetings.
Audit juga dapat memberikan saran yang sifatnya insidental The Audit Executive may also provide incidental advice or
atau pertukaran informasi rutin lainnya. engage in other routine exchange of information.
Jasa konsultasi informal ini dapat dilakukan dengan This informal consulting service can be conducted by taking into
memperhatikan independensi dan objektivitas Auditor account the independence and the objectivity of the internal
internal, ketersediaan sumber daya, dan tidak mengganggu Auditor and the availability of resources, while also ensuring
pelaksanaan jasa audit. Pelaksanaan jasa konsultasi dengan no interference with the implementation of audit services. The
tujuan memberikan penilaian atas efektivitas pengendalian atau implementation of consulting services with the aim of providing
pengelolaan risiko dilakukan dengan mengacu pada standar an assessment of the effectiveness of control or risk management
pelaksanaan audit dengan metodologi RBA. is conducted with reference to the standard audit implementation
using the RBA methodology.
Hasil Tinjauan Atas Efektivitas Sistem Review Results on Effectiveness of the
Pengendalian Internal Tahun Buku 2025 Internal Control System for the 2025
Fiscal Year
Evaluasi Sistem Pengendalian Internal atas pelaporan The evaluation of the Company’s Internal Control System over
keuangan Perseroan pada tahun 2025 telah dilaksanakan financial reporting in 2025 was conducted through testing the
melalui pelaksanaan pengujian kecukupan rancangan aktivitas adequacy of the design of Internal Control over Financial Reporting
pengendalian Internal ICoFR, proses sertifikasi atau pelaksanaan (ICoFR) control activities, as well as the certification process
Control Self-Assessment (CSA) yang melibatkan Fungsi terkait/ or implementation of Control Self-Assessment (CSA) involving
Control Owner (sebagai first line role) dan Fungsi Financial related Functions/Control Owners (as the first line role) and the
Policy, Insurance & ICoFR (sebagai second line role). Sertifikasi Financial Policy, Insurance & ICoFR Function (as the second line
ICoFR Transaction Level Control (TLC) meliputi 11 Siklus yaitu role). ICoFR Transaction Level Control (TLC) certification covering
Fixed Asset, Financial Closing & Reporting, Human Resource 11 cycles, namely Fixed Asset, Financial Closing & Reporting,
& Payroll, Revenue, Inventory Non Hydro, IT General Control, Human Resource & Payroll, Revenue, Inventory Non-Hydro, IT
Taxation, Treasury, Invesment, Expenditure, Entity Level Control General Control, Taxation, Treasury, Investment, Expenditure,
(ELC) telah dilakukan melalui Aplikasi ICoFR Management System and Entity Level Control (ELC), was conducted through the ICoFR
(IMS) pada tanggal 1 September 2025 – 24 September 2025, Management System (IMS) application from 1 September 2025
dengan pelaksanaan sertifikasi mencapai 100%. to 24 September 2025, with the certification process reaching
100% completion.
PGE telah menerbitkan Pedoman Pengendalian Internal Atas PGE has issued Internal Control over Financial Reporting (ICoFR)
Laporan Keuangan (ICoFR) di Lingkungan Pertamina Geothermal Guidelines within Pertamina Geothermal Energy (PGE) and
Energy (PGE) dan pemutakhiran Business Process Model (BPM) updated the Business Process Model (BPM) and Risk Control
& Risk Control Matrix (RCM) yang didampingi oleh Konsultan Matrix (RCM), supported by the Internal Control over Financial
Internal Control over Financial Reporting (ICoFR) yaitu KAP Rintis, Reporting (ICoFR) consultant, KAP Rintis, Jumadi, Rianto & Rekan.
Jumadi, Rianto & Rekan.
Dalam menjalankan perannya sebagai third line role dalam In carrying out its role as the third line in the implementation of
implementasi ICoFR, Fungsi Internal Audit melakukan pengujian ICoFR, the Internal Audit Function performed independent and
secara independen dan menyeluruh atas efektivitas rancangan comprehensive testing of the effectiveness of the design and
dan pelaksanaan pengendalian intern pada proses pelaporan implementation of internal controls in the financial reporting
keuangan serta memberikan rekomendasi untuk perbaikan process, as well as provided recommendations to improve internal
proses pengendalian internal atas keandalan Laporan Keuangan control processes to enhance the reliability of the Financial
dengan menggunakan metodologi RBA. Statements using a Risk-Based Audit (RBA) methodology.
PT Pertamina Geothermal Energy Tbk
Page 401
Laporan Tahunan 2025 | 2025 Annual Report 399
Pernyataan Direksi dan/atau Dewan Statement of the Board of Directors
Komisaris Atas Kecukupan Sistem and/or the Board of Commissioners on
Pengendalian Internal Adequacy of Internal Control System
Direktur Utama dan Direktur Keuangan Perseroan mewakili The President Director and the Finance Director of the Company,
Direksi memberikan pernyataan bahwa Direksi bertanggung representing the Board of Directors, declare that the Board of
jawab atas sistem pengendalian internal Perseroan dan entitas Directors is responsible for the internal control system of the
anak yang dituangkan dalam Surat Pernyataan Direksi Tentang Company and its subsidiaries, as stated in the Board of Directors’
Tanggung Jawab atas Laporan Keuangan Konsolidasian setiap Statement Letter on Responsibility for the Consolidated Financial
tahunnya. Statements issued annually.
Untuk memberikan keyakinan kecukupan Sistem Pengendalian To provide assurance regarding the adequacy of the Internal
Internal atas kegiatan operasional dan pelaporan keuangan Control System over the Company’s operational activities
Perseroan, Fungsi Internal Audit telah melaksanakan masing- and financial reporting, the Internal Audit Function conducted
masing audit operasional dan pengujian kecukupan rancangan operational audits and testing of the adequacy of the design of
aktivitas pengendalian Internal ICoFR pada 2025. Internal Control over Financial Reporting (ICoFR) control activities
in 2025.
Dewan Komisaris dan Direksi menyatakan bahwa system The Board of Commissioners and the Board of Directors state
pengendalian internal Perseroan selama tahun 2025 telah that the Company’s internal control system during 2025 has been
memadai yang tercermin pada kegiatan operasional yang adequate, as reflected in operational activities that have been
berjalan secara efektif dan efisien, Laporan Keuangan yang carried out effectively and efficiently, Financial Statements that
akurat dan dapat diandalkan, serta kepatuhan terhadap are accurate and reliable, and compliance with applicable laws
undangundang dan peraturan yang berlaku. and regulations.
PT Pertamina Geothermal Energy Tbk
Page 402
400 Laporan Tahunan 2025 | 2025 Annual Report
Sistem Manajemen Risiko
Risk Management System
Manajemen risiko merupakan kesatuan proses manajemen yang Risk management constitutes an integral and continuous part of
tidak terpisahkan dan berkelanjutan terhadap seluruh proses bisnis the Company’s overall management process across all business
Perseroan dan menjadi hal yang fundamental dalam penguatan activities and serves as a fundamental element in strengthening
penerapan prinsip-prinsip Good Corporate Governance (GCG), the implementation of Good Corporate Governance (GCG)
sehingga diperlukan penerapan manajemen risiko untuk principles. Accordingly, the implementation of risk management
meningkatkan efisiensi dan efektivitas dalam menjalankan bisnis, is essential to enhance efficiency and effectiveness in conducting
menciptakan dan melindungi nilai bagi Perseroan dan seluruh business operations, as well as to create and protect value for the
pemangku kepentingan. Company and all stakeholders.
Landasan Manajemen Risiko Risk Management Framework
Pengembangan Enterprise Risk Management (ERM) di Perseroan The development of Enterprise Risk Management (ERM) at the
mengacu pada sejumlah regulasi dan peraturan perundang- company refers to a number of applicable laws and regulations,
undangan yang berlaku, serta kebijakan dan Sistem Tata Kelola as well as the Company’s policies and Governance System as
Perusahaan yaitu: follows:
1. Peraturan Menteri BUMN No. PER-2/MBU/03/2023 tentang 1. Regulation of the Minister of SOEsNo. PER-2/MBU/03/2023
Pedoman Tata Kelola dan Kegiatan Korporasi Signifikan concerning Guidelines on Governance and Significant
Badan Usaha Milik Negara. Corporate Activities of State-Owned Enterprises.
2. Traktat dan Komitmen Manajemen Risiko, yang memuat 2. Risk Management Treaty and Commitment, which outlines
komitmen penerapan Manajemen Risiko dalam setiap the commitment to implementing Risk Management in every
kegiatan proses bisnis, proyek, dan manajemen perubahan business process activity, project, and change management
untuk mencapai visi Perusahaan dan mencegah kerugian in order to achieve the Company’s vision and prevent
operasional Perusahaan, yang diperbaharui dan disahkan operational losses, updated and ratified in July 2024.
pada Juli 2024.
3. Komitmen Manajemen Kelangsungan Bisnis, yang memuat 3. Business Continuity Management Commitment, which
komitmen untuk menjaga kontinuitas pasokan uap dan listrik outlines the commitment to maintaining the continuity of steam
kepada pelanggan dalam menghadapi kejadian disruptif and electricity supply to customers in the event of disruptive
sesuai dengan kontrak dan peraturan yang berlaku, yang incidents in accordance with applicable contracts and
diperbarui dan disahkan pada Juli 2024. regulations, updated and ratified in July 2024.
4. Pedoman Pengelolaan Risiko Perusahaan (Enterprise Risk 4. Enterprise Risk Management Guidelines No. A-001/
Management) No. A-001/PGE900/2025-S9 tanggal 1 PGE900/2025-S9 dated 1 August 2025.
Agustus 2025.
5. Pengelolaan Manajemen Kelangsungan Bisnis tertuang 5. Business Continuity Management is governed under the
dalam Pedoman Geothermal Integrated Management System Geothermal Integrated Management System (GIMS)
(GIMS) No. G-001/PGE000/2023-S9 revisi 3 tanggal 16 Guidelines No. G-001/PGE000/2023-S9 Revision 3 dated
September 2025. 16 September 2025.
6. Tata Kelola Organisasi (TKO) manajemen risiko yang terdiri 6. Organizational Governance (TKO) for risk management
dari: consisting of:
a. TKO Pengelolaan Risiko No. B-002/PGE313/2024-S9 a. TKO on Risk Management No. B-002/PGE313/2024-S9
Rev 0 Rev 0
b. TKO Penyusunan dan Perbaikan Berkelanjutan Dokumen b. TKO on the Preparation and Contonuous Improvement
Sistem Manajemen Kelangsungan Bisnis (SMKB) No. of Business Continuity Management System (BCMS)
B-001/PGE313/2023-S9 Rev 0 Documents No. B-001/PGE313/2023-S9 Rev 0
7. Tata Kerja Individu (TKI) Manajemen Risiko yang terdiri dari: 7. Individual Work Procedures (TKI) for Risk Management
consisting of:
a. TKI Perhitungan Batas Toleransi Risiko dan Loss Event No. a. TKI on Risk Tolerance Limit and Loss Event Calculation No.
C-001/PGE313/2024-S9 Rev 0 C-001/PGE313/2024-S9 Rev 0
PT Pertamina Geothermal Energy Tbk
Page 403
Laporan Tahunan 2025 | 2025 Annual Report 401
b. TKI Penyusunan Laporan Profil Risiko No. C-002/ b. TKI on the Preparation of Risk Profile Reports No. C-002/
PGE313/2024-S9 Rev 0 PGE313/2024-S9 Rev 0
c. TKI Pemantauan dan Pelaporan Risiko No. C-003/ c. TKI on Risk Monitoring and Reporting No. C-003/
PGE313/2024-S9 Rev 0 PGE313/2024-S9 Rev 0
d. TKI Penilaian dan Penanganan Risiko (Risk Assessment) d. TKI on Risk Assessment and Mitigation No. C-004/
No. C-004/PGE313/2024-S9 Rev 0 PGE313/2024-S9 Rev 0
e. TKI Perhitungan Dampak Risiko Kuantitatif No C-005/ e. TKI on Quantitative Risk Impact Calculation No. C-005/
PGE313/2024-S9 Rev 0 PGE313/2024-S9 Rev 0
f. TKI Pengisian Kertas Kerja Dokumen Sistem f. TKI on the Completion of Business Continuity Management
Manajemen Kelangsungan Bisnis (SMKB) No. C-001/ System (BCMS) Document Worksheets No. C-001/
PGE313/2023-S9 Rev 0 PGE313/2023-S9 Rev 0
g. TKI Pengisian Kertas Kerja Dokumen Sistem g. TKI on the Completion of Business Continuity Management
Manajemen Kelangsungan Bisnis (SMKB) No. C-001/ System (BCMS) Document Worksheets No. C-001/
PGE900/2025-S9 Rev 0. PGE900/2025-S9 Rev 0
h. TKI Pengidentifikasian Risiko Dengan Metode Fault Tree h. TKI on Risk Identification Using the Fault Tree Analysis
Analysis No. C-002/PGE900/2025-S9 Rev 0 Method No. C-002/PGE900/2025-S9 Rev 0.
Kerangka Kerja Manajemen Risiko Risk Management Framework
Penerapan manajemen risiko Perseroan mengacu pada standard The implementation of the Company’s risk management refers to
ISO 31000:2018 yang terdiri dari 3 (tiga) pilar utama, yaitu the ISO 31000:2018 standard, which consists of 3 (three) main
prinsip (principle), kerangka kerja (framework), dan proses pillars, namely principles, framework, and process, integrated in
(process), yang diintegrasikan sesuai dengan kondisi lingkungan, accordance with the Company’s operating environment, business
proses bisnis, dan karakter bisnis Perseroan. processes, and business characteristics.
Continual Integrated
Improvement
Human and Structured and
Cultural Factors Comprehensive
Value
Creation and
Protection
Best Available
Information Customized
Dynamic Inclusive
Prinsip Manajemen Risiko
Closing
the Gap
Risk Management
at All Level
Risk Management Principles Ruang Lingkup, Konteks, Kriteria
Scope, Context, Criteria
Part of Integrated
Framework
Management
Adjustment
System
Communication & Consultations
Improvement Integration Penilaian Risiko
Pemantauan & Kaji Ulang
Komunikasi & Konsultasi
Risk Assessment
Monitoring & Review
Content
Responsive to
Alignment Identifikasi Risiko
Change
Risk Identification
Analisis Risiko
Leadership & Risk Analysis
Maturity Evaluation Commitment Design Commitment
Assessment Articulating Evaluasi Risiko
Risk Evaluation
Risk Treatment
Rolling Risk
Management Communication Perlakuan Risiko
Implementation
Pencatatan & Pelaporan
Risk Management Decision Support
System
Recording & Reporting
Process
Risk Management
Workplan
Kerangka Manajemen Risiko Proses Manajemen Risiko
Risk Management Framework Risk Management Process
PT Pertamina Geothermal Energy Tbk
Page 404
402 Laporan Tahunan 2025 | 2025 Annual Report
Prinsip Three Lines Model Three Lines Model Principles
Untuk membantu Perseroan dalam mengidentifikasi struktur dan To assist the Company in identifying the most effective structure
proses yang terbaik dalam mencapai tujuan dan memfasilitasi and processes to achieve its objectives and to facilitate strong
Tata Kelola dan Manajemen Risiko yang kuat, diterapkan sistem Governance and Risk Management, the Three Lines Model is
Model Tiga Lini (Three Lines Model) sebagai berikut: implemented as follows:
Dewan Komisaris | Board of Commissioner
Direksi | Board of Director
Management
1st Line 2nd Line 3rd Line
Governance
Risk Owner Risk Management Audit Executive
BCMS
Compliance
KATA KUNCI: Akuntabilitas, pelaporan Pendelegasian, arahan, Penyelarasan, koordinasi
KEY: Accountability, reporting sumber daya, pengawasan komunikasi, kolaborasi
Delegation, direction, Alignment, communication
resources, oversight coordination, collaboration
Dalam pendekatan Model Tiga Lini (Three Lines Model), semua In the Three Lines Model approach, all lines of defense work
lini bekerja sama secara kolektif dan selaras satu sama lain together collectively and in harmony with each other to contribute
untuk berkontribusi dalam melindungi dan menciptakan nilai. to creating and maintaining value. Alignment of activities is
Keselarasan aktivitas dicapai melalui komunikasi dan kolaborasi. achieved through communication and collaboration.
Hal ini meyakinkan keandalan, keterkaitan, dan transparansi This ensures information reliability, linkage, and transparency
informasi yang diperlukan untuk pengambilan keputusan berbasis required for risk-based decision-making. The functions and roles
Risiko. Fungsi dan peran masing-masing lini dalam Three Lines of each line in the Three Lines Model are as follows:
Model adalah sebagai berikut:
PT Pertamina Geothermal Energy Tbk
Page 405
Laporan Tahunan 2025 | 2025 Annual Report 403
1st Line 2nd Line 3rd Line
Meyakinkan adanya pengendalian Bertanggung jawab dalam Menjaga akuntabilitas terhadap
internal yang kuat terhadap mengembangkan kebijakan Direksi dan Dewan Komisaris serta
potensi risiko di masing-masing dan memantau penerapan independensinya dari pelaksanaan
fungsi/area/proyek. Menerapkan pengelolaan risiko Perusahaan. pekerjaan yang menjadi tanggung
kebijakan pengelolaan Meyakinkan aktivitas Risk Owner jawab lini pertama & lini kedua.
risiko yang telah ditetapkan. dilaksanakan berlandaskan pada Bertanggung jawab melakukan
Mempertimbangkan risiko dalam STK pengelolaan risiko yang evaluasi terhadap efektivitas
pengambilan keputusan dan telah ditetapkan. Memantau dan penerapan pengelolaan risiko
aktivitas yang dilakukan dalam melaporkan risiko-risiko secara secara keseluruhan. Meyakinkan
mencapai sasaran Perusahaan. menyeluruh kepada Direksi. bahwa pengelolaan risiko pada lini
pertama dan kedua berjalan efektif.
Ensuring the existence of robust Responsible for developing policies
internal controls to address and overseeing the implementation Maintaining accountability to the
potential risks across each function, of the Company’s risk management Board of Directors and the Board
area, and project. Implementing framework. Ensuring that Risk of Commissioners, while preserving
established risk management Owner activities are carried out in independence from the execution
policies. Taking risks into accordance with the established risk of duties assigned to the first and
consideration in decision-making management Standard Terms and second lines. Responsible for
and in all activities undertaken to Conditions (STK). Monitoring and evaluating the overall effectiveness
achieve the Company’s objectives. comprehensively reporting risks to of risk management implementation.
the Board of Directors. Ensuring that risk management
practices within the first and second
lines operate effectively.
Kebijakan Pengelolaan Risiko Risk Management Policy
Kebijakan pengelolaan risiko Perseroan disesuaikan dengan sifat The Company’s risk management policy is tailored to the nature
dan karakter bisnis Perseroan antara lain meliputi penetapan and characteristics of its business and includes, among others, the
strategi pengelolaan risiko, penetapan taksonomi risiko, determination of risk management strategies, the establishment
penetapan penggunaan metode pengukuran, sistem informasi of a risk taxonomy, the adoption of measurement methods, the
manajemen risiko serta implementasi Sistem Manajemen implementation of a risk management information system, as well
Kelangsungan Bisnis (“SMKB”). as the implementation of the Business Continuity Management
System (BCMS).
Strategi Pengelolaan Risiko Risk Management Strategy
Dalam rangka melindungi dan menciptakan nilai Perseroan In order to protect and create value for the Company, as well as
serta bagian dari komitmen Perseroan terhadap tata kelola dan as part of the Company’s commitment to integrated governance
manajemen risiko yang terintegrasi, Perseroan menetapkan Risk and risk management, the Company establishes a Risk Appetite
Appetite Statement dan Batas Toleransi Risiko untuk memastikan Statement and Risk Tolerance Limits to ensure that every strategic
setiap keputusan strategis dan operasional berada dalam batas and operational decision remains within acceptable risk limits.
risiko yang dapat diterima.
1. Risk Appetite Statement Perseroan 1. The Company’s Risk Appetite Statement
a. Perusahaan memiliki preferensi zero appetite terhadap a. The Company has a zero appetite for compliance
pelanggaran kepatuhan (fraud), serta berkomitmen untuk violations (fraud) and is committed to preventing such
mencegah perilaku tersebut. conduct.
b. Perusahaan mengambil risk appetite normal dalam b. The Company adopts a normal risk appetite in
menetapkan Risk Tolerance yang dapat diterima setelah determining acceptable Risk Tolerance after implementing
melakukan tindakan penanganan risiko (risk treatment) risk treatment measures, reflecting a medium appetite in
sebagai perwujudan medium appetite terhadap managing the Company’s risk capacity.
pengelolaan risk capacity Perusahaan.
PT Pertamina Geothermal Energy Tbk
Page 406
404 Laporan Tahunan 2025 | 2025 Annual Report
c. Perusahaan mengambil medium appetite terhadap c. The Company adopts a medium appetite for the
pencapaian serap laba Production Allowance. achievement of Production Allowance profit absorption.
d. Perusahaan mengambil high appetite terhadap d. The Company adopts a high appetite for achieving ABI
pencapaian performa realisasi ABI. realization performance.
e. Perusahaan memiliki preferensi high appetite terhadap e. The Company has a high appetite for EBITDA to Interest.
EBITDA to Interest.
f. Perusahaan memiliki preferensi low appetite terhadap f. The Company has a low appetite for impairment of the
impairment atas aset-aset Perusahaan. Company’s assets.
g. Perusahaan memiliki preferensi medium appetite g. The Company has a medium appetite for the management
terhadap pengelolaan Tax Reimbursement. of Tax Reimbursement.
h. Perusahaan memiliki preferensi low appetite terhadap h. The Company has a low appetite for achieving production
pencapaian produksi Perusahaan dengan menjaga targets while maintaining plant reliability, implementing
kehandalan pembangkit, implementasi Asset Integrity Asset Integrity Management, and strengthening synergy
Management dan sinergi dengan PLN. with PLN.
i. Perusahaan memiliki preferensi zero appetite terhadap i. The Company has a zero appetite for the number of
jumlah insiden yang terhitung sebagai Number of incidents categorized as Number of Accident (NoA).
Accident (NoA).
j. Perusahaan memiliki preferensi low appetite terhadap j. The Company has a low appetite for exposure to
paparan fluktuasi kurs. exchange rate fluctuations.
k. Perusahaan memiliki preferensi low appetite terhadap k. The Company has a low appetite for reputational risk,
pengelolaan reputasi dengan menjaga Customer while maintaining the Customer Satisfaction Index to
Satisfaction Index agar tercipta kepercayaan publik foster public trust in the Company.
terhadap Perusahaan.
i. Perusahaan memiliki preferensi low appetite terhadap l. The Company has a low appetite for ESG performance
pencapaian tingkat nilai ESG sehingga program levels to ensure that ESG programs provide benefits for
ESG dapat memberikan manfaat bagi perusahaan, the Company, society, and the environment.
masyarakat dan lingkungan.
Peseroan menetapkan Risk Appetite terhadap risiko The Company establishes its Risk Appetite for potential
kejadian risiko yang mungkin dihadapi sebagai berikut: risk events that may be encountered as follows:
No. Parameter Risk Appetite
1 Pelanggaran kepatuhan (fraud)
Zero
Compliance violations (fraud)
2 Pengelolaan risk capacity Perusahaan
Medium
Management of the Company’s risk capacity
3 Pencapaian serap laba Production Allowance
Medium
Achievement of Production Allowance profit absorption
4 Pencapaian performa realisasi ABI
High
Achievement of ABI realization performance
5 EBITDA to Interest High
6 Impairment atas aset-aset Perusahaan
Low
Impairment of the Company’s assets
7 Pengelolaan Tax Reimbursement
Medium
Management of Tax Reimbursement
8 Pencapaian produksi Perusahaan
Low
Achievement of the Company’s production targets
9 Jumlah insiden yang terhitung sebagai Number of Accident (NoA)
Zero
Number of incidents categorized as Number of Accident (NoA)
10 Paparan fluktuasi kurs
Low
Exposure to exchange rate fluctuations
11 Pengelolaan reputasi (Customer Satisfaction Index)
Low
Reputation management (Customer Satisfaction Index)
12 Pencapaian tingkat nilai ESG
Low
Achievement of ESG performance levels
PT Pertamina Geothermal Energy Tbk
Page 407
Laporan Tahunan 2025 | 2025 Annual Report 405
2. Batas Toleransi Risiko 2. Risk Tolerance Limit
Batas Toleransi Risiko atau Risk Materiality Threshold The Company’s Risk Tolerance Limit, or Risk Materiality
Perseroan ditetapkan sebesar 50% dari nilai Risk Limit. Threshold, is set at 50% of the Risk Limit value. This
Selanjutnya nilai tersebut diturunkan ke seluruh Fungsi dan threshold is subsequently cascaded to all Functions
Area Perseroan sebagai acuan dalam pengelolaan risiko. and Areas within the Company as a reference for risk
management.
Risk Capacity
Risk Tolerance
Risk Appetite
Risk Limit
Taksonomi Risiko Risk Taxonomy
Berdasarkan sifat dan karakteristik bisnis, secara garis besar Based on the nature and characteristics of its business, the
Perseroan terpapar risiko yang tergambar dalam Taksonomi Company is generally exposed to risks as reflected in the
Risiko Perusahaan yaitu Risk Intelligence Map (“RIM”) Pertamina, Company’s Risk Taxonomy, namely the Pertamina Risk Intelligence
yaitu: Map (RIM), which consists of the following:
1. Risiko Legal, Governance, dan Compliance 1. Legal, Governance, and Compliance Risk
Pengelolaan risiko untuk menangani adanya potensi dampak Risk management to address potential negative impacts
negatif akibat tuntutan hukum dan/atau kelemahan aspek arising from legal claims and/or weaknesses in legal aspects,
yuridis, tidak terpenuhinya tata kelola, peraturan perundang- as well as non-compliance with governance principles, laws
undangan dan ketentuan eksternal. and regulations, and other external requirements.
2. Risiko Business Strategy 2. Business Strategy Risk
Pengelolaan risiko untuk menangani adanya potensi dampak Risk management to address potential negative impacts
negatif akibat ketidaktepatan dalam pengambilan dan/atau arising from inaccuracies in making and/or implementing
pelaksanaan suatu keputusan bisnis strategis serta kegagalan strategic business decisions, as well as failures to anticipate
dalam mengantisipasi perubahan lingkungan bisnis. changes in the business environment.
3. Risiko Financial Management 3. Financial Management Risk
Pengelolaan risiko untuk menangani adanya potensi Risk management to address potential negative impacts
dampak negatif akibat ketidaktepatan dalam perencanaan, arising from inaccuracies in the planning, arrangement,
pengaturan, pemantauan, penyelenggaraan, dan/atau monitoring, implementation, and/or control of the Company’s
pengendalian keuangan Perusahaan. financial management.
4. Risiko Operasional 4. Operational Risk
Pengelolaan risiko untuk menangani adanya potensi Risk management to address potential negative impacts
dampak negatif akibat ketidakcukupan dan/atau tidak arising from inadequate and/or malfunctioning internal
berfungsinya proses internal, kesalahan manusia, kegagalan processes, human error, system failures, and/or external
sistem, dan/atau adanya kejadian-kejadian eksternal yang events affecting operational processes
mempengaruhi proses operasional
5. Risiko Business Environment 5. Business Environment Risk
Pengelolaan risiko untuk menangani adanya potensi dampak Risk management to address potential negative impacts
negatif akibat perubahan dari kondisi lingkungan eksternal arising from changes in the external business environment
bisnis Perusahaan conditions affecting the Company
PT Pertamina Geothermal Energy Tbk
Page 408
406 Laporan Tahunan 2025 | 2025 Annual Report
6. Risiko Corporate Image 6. Corporate Image Risk
Pengelolaan risiko untuk menangani adanya potensi dampak Risk management to address potential negative impacts
negatif akibat menurunnya tingkat kepercayaan pemangku arising from a decline in stakeholder confidence resulting
kepentingan (stakeholder) yang bersumber dari persepsi from negative perceptions of the Company.
negatif terhadap Perusahaan.
7. Risiko Proyek (Investasi, Divestasi) dan Aksi Korporasi 7. Project (Investment, Divestment) and Corporate Action Risk)
Pengelolaan risiko untuk menangani adanya potensi dampak Risk management to address potential negative impacts
negatif akibat tidak tercapainya sasaran dari kegiatan arising from the failure to achieve the objectives of investment
investasi, divestasi, dan aksi korporasi. activities, divestment activities, and corporate actions.
Metode Pengukuran Risiko Risk Measurement Method
Terdapat 2 (dua) jenis risiko, yaitu risiko kuantitatif dan kualitatif. There are 2 (two) types of risks, namely quantitative risks and
Risiko kuantitatif merupakan risiko yang dihitung berdasarkan qualitative risks. Quantitative risks are risks measured based on
sasaran yang dinyatakan secara kuantitatif (finansial). objectives expressed in quantitative (financial) terms. Meanwhile,
Sedangkan risiko kualitatif merupakan risiko yang dampaknya qualitative risks are risks whose impacts cannot be expressed in
tidak dapat dinyatakan secara finansial atau dapat dinyatakan financial terms or may be expressed financially but where the
secara finansial namun dampak non-finansialnya lebih dominan. non-financial impacts are more dominant.
Dalam melakukan analisis risiko, Perseroan telah memiliki kriteria In conducting risk analysis, the Company has established impact
dampak dan kriteria probabilitas yang masing-masing terdiri criteria and probability criteria, each consisting of 5 (five) levels.
atas 5 (lima) tingkatan. Kriteria dampak memiliki tingkatan dari The impact criteria range from insignificant, minor, moderate,
insignificant, minor, moderate, significant, hingga catastrophic. and significant, to catastrophic. Meanwhile, the probability
Sedangkan kriteria probabilitas memiliki tingkatan dari rare, criteria range from rare, unlikely, and moderate, to likely and
unlikely, moderate, likely, hingga almost certain. almost certain.
Implementasi Sistem Manajemen Implementation of the Business
Kelangsungan Bisnis (“SMKB”) Continuity Management System
(“BCMS”)
Perseroan menerapkan Sistem Manajemen Kelangsungan Bisnis The Company implements a Business Continuity Management
(SMKB) yang mengacu pada standar ISO 22301:2019 Business System (BCMS) that refers to the ISO 22301:2019 Business
Continuity Management System (BCMS) untuk mengidentifikasi Continuity Management System standard to identify potential
ancaman bencana beserta dampaknya bagi pencapaian tujuan disaster threats and their impacts on the achievement of business
bisnis, sehingga memberikan kerangka kerja untuk membangun objectives. This provides a framework for building business
ketahanan bisnis melalui kemampuan respon yang efektif terhadap resilience through the ability to respond effectively to such disaster
ancaman bencana tersebut. Penerapan SMKB mengacu pada threats. The implementation of the BCMS refers to the Geothermal
Pedoman Geothermal Integrated Management System (GIMS) Integrated Management System (GIMS) Guidelines No. G-001/
No. G-001/PGE000/2023-S9 revisi 3 tanggal 16 September PGE000/2023-S9 Revision 3 dated 16 September 2025. The
2025. Berikut kegiatan SMKB yang telah dilaksanakan: following BCMS activities have been carried out:
1. Kick Off Meeting Pengelolaan dan Penguatan Penerapan 1. Kick-Off Meeting on the Management and Strengthening of
Sistem Manajemen Kelangsungan Bisnis Berdasarkan the Implementation of the Business Continuity Management
ISO22301:2019 Business Continuity Management System di System based on ISO 22301:2019 Business Continuity
PT PGE Tbk. Management System at PT PGE Tbk.
2. Training Awareness Pengelolaan dan Penguatan Penerapan 2. Awareness Training on the Management and Strengthening
Sistem Manajemen Kelangsungan Bisnis (SMKB) Berdasarkan of the Implementation of the Business Continuity Management
ISO 22302:2019 BCMS di PT Pertamina (Persero). System (BCMS) based on ISO 22301:2019 BCMS at PT
Pertamina (Persero).
3. Refreshment BCMS dan sosialisasi modul BCM. 3. BCMS refreshment session and socialization of the BCM
module.
4. Sosialisasi pengisian kertas kerja BCMS PGE. 4. Socialization on completing the BCMS working papers of
PGE.
5. Challenge session & finalisasi Kertas Kerja SMKB. 5. Challenge session and finalization of the BCMS working
papers.
6. Executive briefing BOD dan business owner terkait SMKB. 6. Executive briefing for the Board of Directors and business
owners regarding BCMS.
PT Pertamina Geothermal Energy Tbk
Page 409
Laporan Tahunan 2025 | 2025 Annual Report 407
7. Audit internal SMKB. 7. Internal audit of the BCMS.
8. Penyusunan TKI Pengisian Kertas Kerja Dokumen Sistem 8. Preparation of the Individual Work Procedure (TKI) for
SMKB No. C-001/PGE900/2025-S9. Completing the BCMS Document Working Papers No.
C-001/PGE900/2025-S9.
9. Rapat Tinjauan Manajemen (RTM) ISO 22301:2019. 9. ISO 22301:2019 Management Review Meeting (RTM).
10. Audit Surveillance SMKB ISO 22301:2019, dimana hasil 10. BCMS ISO 22301:2019 Surveillance Audit, the results
audit menunjukkan bahwa tujuan audit telah tercapai, of which indicate that the audit objectives were achieved,
cakupan sesuai, dan direkomendasikan sertifikat ISO the scope was appropriate, and the ISO 22301:2019
22301:2019 dapat dilanjutkan. certification was recommended to be maintained.
Proses Manajemen Risiko Risk Management Process
Ruang Lingkup, Konteks, Kriteria
Scope, Context, Criteria
Communication & Consultations
Penilaian Risiko
Pemantauan & Kaji Ulang
Komunikasi & Konsultasi
Risk Assessment
Monitoring & Review
Identifikasi Risiko
Risk Identification
Analisis Risiko
Risk Analysis
Evaluasi Risiko
Risk Evaluation
Risk Treatment
Perlakuan Risiko
Pencatatan & Pelaporan
Recording & Reporting
Gambar xx. Proses Manajemen Risiko
Sistem ERM diterapkan sebagai bagian dari sistem manajemen The ERM system is implemented as part of the Company’s
Perusahaan yang dilaksanakan secara sistematis dan management system in a systematic manner and aims to foster a
mendorong terciptanya budaya sadar risiko di lingkungan kerja. risk-aware culture within the workplace. To ensure its effectiveness,
Untuk memastikan efektivitasnya, Perseroan secara berkala the Company periodically conducts reviews of the implementation
melaksanakan review terhadap pelaksanaan sistem manajemen of the risk management system.
risiko.
Perseroan mengungkapkan secara transparan risiko-risiko yang The Company transparently discloses risks that significantly affect
secara signifikan mempengaruhi kegiatan usaha sebagai bagian its business activities as part of its efforts to provide information
dari upaya untuk memberikan informasi yang dapat digunakan that can serve as a basis for decision-making by parties intending
sebagai dasar pertimbangan dalam pengambilan keputusan to establish business relationships and cooperation with the
oleh pihak-pihak yang akan melakukan hubungan bisnis dan Company.
kerja sama dengan Perseroan.
Proses manajemen risiko yang diterapkan Perseroan meliputi: The risk management process implemented by the Company
includes the following:
1. Ruang Lingkup, Konteks dan Kriteria 1. Scope, Context, and Criteria
Perseroan melakukan penentuan lingkup pengelolaan risiko The Company determines the scope of risk management by
dengan memperhatikan faktor internal dan eksternal. taking into consideration internal and external factors.
PT Pertamina Geothermal Energy Tbk
Page 410
408 Laporan Tahunan 2025 | 2025 Annual Report
2. Penilaian Risiko 2. Risk Assesment
Penilaian risiko merupakan keseluruhan proses atau aktivitas Risk assessment encompasses the entire process or activities
yang meliputi: that include:
a. Identifikasi Risiko a. Risk Identification
Perseroan Identifikasi risiko dilakukan untuk menemukan, Risk identification is conducted to discover, recognize,
mengenali dan mendeskripsikan risiko yang mungkin and describe risks that may hinder the Company in
dapat menghalangi Perseroan dalam mencapai sasaran achieving its objectives, as well as to assess potential risks
dan menilai potensi risiko melalui penilaian risiko reguler through regular risk assessments and scenario analysis.
dan analisis skenario.
b. Analisis Risiko b. Risk Evaluation
Analisis risiko dilakukan untuk menentukan besaran Risk evaluation is performed to compare the results of the
kemungkinan terjadinya risiko dan besaran dampak risk analysis with the established risk criteria in order to
risiko, dengan memperhatikan sumber dan penyebab determine the appropriate actions that need to be taken.
risiko serta pengendalian risiko yang sudah ada saat ini
serta efektivitasnya.
c. Evaluasi Risiko c. Risk Evaluation
Evaluasi risiko untuk membandingkan hasil analisis Risk evaluation is performed to compare the results of the
risiko dengan kriteria risiko yang sudah ditetapkan guna risk analysis with the established risk criteria in order to
menentukan tindakan yang tepat yang perlu dilakukan. determine the appropriate actions that need to be taken.
3. Penanganan Risiko 3. Risk Treatment
Penanganan risiko disesuaikan dengan strategi bisnis Risk treatment is aligned with the Company’s business
Perseroan dengan mempertimbangkan risk appetite, status strategy by considering risk appetite, risk status, the cost of
risiko, biaya penanganan risiko (cost of risk) dan manfaat risk treatment, and the most optimal benefits for the Company.
yang paling optimal bagi Perseroan.
4. Komunikasi dan Konsultasi 4. Communication and Consultation
Komunikasi dan konsultasi dilakukan dengan pemangku Communication and consultation are conducted with
kepentingan untuk mendiskusikan risiko yang terjadi atau stakeholders to discuss existing risks or potential risks and
potensi risiko dan penanganannya. their mitigation measures.
5. Pemantauan dan Kaji Ulang 5. Monitoring and Review
Pemantauan secara berkelanjutan dilakukan oleh para pemilik Continuous monitoring is carried out by risk owners
risiko (risk owner) dan fungsi terkait untuk mengetahui dan and related functions to assess and determine the actual
menentukan status kinerja aktual proses ERM dibandingkan performance status of the ERM process compared with the
dengan rencana atau harapan yang telah dibuat. plans or expectations that have been established.
6. Pencatatan dan Pelaporan 6. Recording and Reporting
Proses ERM dan hasilnya didokumentasikan dan dilaporkan The ERM process and its results are documented and reported
melalui mekanisme yang sesuai kepada pemangku through appropriate mechanisms to relevant stakeholders,
kepentingan terkait, seperti kepada Direksi dan pemegang including the Board of Directors and the Company’s
sahamnya. shareholders.
PT Pertamina Geothermal Energy Tbk
Page 411
Laporan Tahunan 2025 | 2025 Annual Report 409
Roadmap Pengembangan Manajemen Risk Management Development
Risiko Roadmap
Perseroan telah menetapkan rencana kerja manajemen risiko The Company has established short-term and long-term risk
jangka pendek dan jangka panjang yang dituangkan dalam management work plans outlined in a risk management
roadmap pengembangan manajemen risiko, yang digunakan development roadmap, which serves as a reference for the
sebagai acuan bagi Perseroan dalam pengembangan Company in developing risk management practices and fostering
pengelolaan dan budaya risiko untuk dapat mencapai Fase a risk culture in order to achieve the Better Practice Phase. The
Praktik yang Lebih Baik. Berikut roadmap pengembangan following is the Company’s risk management development
manajemen risiko Perseroan: roadmap:
To protect & create value
Towards
World Class Green Energy Company with Largest Geothermal Capacity Globally
1. Creating value by maximizing end-to-end management of geothermal potential along with its derivative products
2. Supporting & Participating in national and potential decarbonization agendas
Short Term: 2025-2026 Mid Term: 2027-2028 Long Term 2029-2030
Strengthening the Roll Out & Growth Innovation dan
Fundamental Improvement
• Implementing composite • Implementing composite • Implementing composite
risk measurement, risk measurement, risk risk measurement, risk
RMA, ICT, stress testing, maturity assessment, maturity assessment,
certification of risk internal control testing, internal control testing,
management organs, as stress testing certification stress testing certification
regulatory compliance of risk management of risk management
(Permen BUMN No. organs, as regulatory organs, as regulatory
2-2023) compliance (Permen compliance (Permen
• Restructuring BUMN No. 2-2023 BUMN No. 2-2023)
organization of ERM as • Strengthening • Peningkatan RMI
2nd line organization of ERM 2nd menjadi praktik yang
• Praktek yang baik (+) line lebih baik (+)
• Developing Risk • Peningkatan RMI • Updating Risk
Management Strategy menjadi praktik yang Management Strategy
• Conducting Risk Culture lebih baik • Conducting Risk Culture
Survey • Updating Risk Survey
• IRMS enhancement Management Strategy • Portofolio Risk
• Follow up RMA • Conducting Risk Culture implementation
recommendations Survey • Emerging Risk
• Developing tools for • IRMS enhancement implementation
Emerging Risk • Emerging Risk • Risk culture
• Updating ERM Policy & implementation implementation
Procedures • Developing tools • Risk radar & dashboard
• Surveillance audit BCMS for Gap Analysis & implementation
• BCMS recertification Evaluating Risk Culture • Surveillance audit BCMS
including scope Survey Results
expansion of operating • Surveillance audit BCMS
area
Resources People : Risk Culture; capability program; leadership & oversight; collaboration & stakeholder engagement
Process : Governance, policy and framework; compliance & regulation (Permen BUMN, ISO, Data Privacy Law)
Technology : IRMS, ERMS, i-PGE, PEDAS, SIIP, mySAP; RCS, cyber security & automation (AI/ML, RPA, dashboards)
PT Pertamina Geothermal Energy Tbk
Page 412
410 Laporan Tahunan 2025 | 2025 Annual Report
Profil Risiko dan Pengelolaannya Risk Profile and Management
Profil Risiko dan Pengelolaannya
Risk Profile and Management
Risiko Kategori Risiko Tindakan
No
Risk Risk Category Measures
1 Impairment pada proyek Financial Management a. Menyiapkan kebutuhan dokumen untuk memperoleh
maupun area komitmen komersial.
Impairment in projects or b. Melakukan penyusunan kajian keekonomian sesuai
operational areas dengan ketersediaan cadangan (NORC).
c. Mengoptimalisasi sub-surface untuk peningkatan produksi,
melalui pengeboran sumur make up dan optimalisasi
manajemen reservoir.
d. Memperbaiki dan optimalisasi surface facilities.
e. Menyusun kajian (Accounting Position Paper) terkait
impairment.
a. Preparing required documentation to obtain commercial
commitments.
b. Conducting economic feasibility studies based on reserve
availability (NORC).
c. Optimizing subsurface performance to increase production
through make-up well drilling and reservoir management
optimization.
d. Improving and optimizing surface facilities.
e. Preparing an Accounting Position Paper related to
impairment.
2 Tidak Tercapainya Suplai Uap Operational a. Melakukan evaluasi pada sumur dan fasilitas produksi
Bisnis Eksisting untuk optimalisasi kapasitas supply uap.
Unattainable b. Melakukan Recovery Program: Geohazard, Reliability, dan
Supply of Existing Subsurface.
Business Steam c. Melakukan studi Tracer Flow Test dan manajemen reinjeksi.
d. Melakukan pengeboran sumur make up dan workover
sumur.
e. Melakukan well integrity test.
f. Mengevaluasi dan melakukan re-uji performa individual
sumur dengan memonitor dinamika/perubahan TKS.
Hasil:
Realisasi produksi geothermal Perseroan tahun 2025 sebesar
103,37%
a. Evaluating wells and production facilities to optimize steam
supply capacity.
b. Implementing recovery programs covering geohazard,
reliability, and subsurface aspects.
c. Conducting tracer flow test studies and reinjection
management.
d. Performing make-up well drilling and well workovers.
e. Conducting well integrity testing.
f. Evaluating individual well performance by monitoring TKS
dynamics.
Result:
The Company’s geothermal production realization in 2025
reached 103.37%.
PT Pertamina Geothermal Energy Tbk
Page 413
Laporan Tahunan 2025 | 2025 Annual Report 411
Profil Risiko dan Pengelolaannya
Risk Profile and Management
Risiko Kategori Risiko Tindakan
No
Risk Risk Category Measures
3 Unscheduled shutdown dan Operational a. Melakukan implementasi program Reliability Centered
derating pembangkitan PLTP Maintenance (RCM) serta program Risk Based Inspection
Unscheduled shutdown and (RBI).
derating of geothermal power b. Mengevaluasi program RCM dan RBI untuk strategi
plants pemeliharaan dan inspeksi di semua area.
c. Melakukan Minor Inspection (MI) dan Turn Around
(TA) secara time-based sesuai dengan Operating &
Maintenance (O&M) Manual yang diberikan oleh Original
Equipment Manufacturer (OEM).
d. Menyusun Root Cause Failure Analysis (RCFA) sebagai
lesson learned pada setiap kejadian disturbance/
kerusakan.
e. Menyusun Asset Health Report (AHR) secara periodik.
f. Menyiapkan critical spare part untuk peralatan utama PLTP.
g. Melakukan Life Time Extension Program Analysis dan
Fitness for Service untuk Unit yang sudah beroperasi
melebihi life time sesuai dengan ISO 55001: Asset
Management.
h. Menyusun Long Term Contract (LTC) dengan Original
Equipment Manufacturer (OEM) atau pihak penyedia jasa
lain untuk mempercepat respon kebutuhan jasa service
untuk pelaksanaan MI/TA serta ketika kejadian gangguan.
Hasil:
Realisasi Equivalent Forced Outage Ratio (EFOR) sebesar
0,41% dari allowable 1,53%.
a. Implementing Reliability Centered Maintenance (RCM) and
Risk Based Inspection (RBI) programs.
b. Evaluating RCM and RBI programs for maintenance and
inspection strategies across all areas.
c. Conducting Minor Inspection (MI) and Turn Around (TA)
based on time-based schedules in accordance with the
OEM Operating & Maintenance manual.
d. Preparing Root Cause Failure Analysis (RCFA) for each
disturbance or failure event.
e. Preparing periodic Asset Health Reports (AHR).
f. Preparing critical spare parts for key geothermal power
plant equipment.
g. Conducting Lifetime Extension Program Analysis and
Fitness for Service assessment for units operating beyond
their design lifetime in accordance with ISO 55001 Asset
Management.
h. Establishing Long Term Contracts (LTC) with OEMs or
service providers to accelerate response for maintenance
and disturbance events.
Result:
The Equivalent Forced Outage Ratio (EFOR) realization
reached 0.41% compared with the allowable 1.53%.
PT Pertamina Geothermal Energy Tbk
Page 414
412 Laporan Tahunan 2025 | 2025 Annual Report
Profil Risiko dan Pengelolaannya
Risk Profile and Management
Risiko Kategori Risiko Tindakan
No
Risk Risk Category Measures
4 Bencana alam (climate risk) Operational a. Melakukan asesmen geohazard, salah satunya
Natural disasters (climate risk) menggunakan Geohazard Emergency Response Readiness
Assessment Tool (GERRAT).
b. Menindaklanjuti hasil studi geohazard melalui
penanggulangan longsor dengan perkuatan lereng pada
area rawan longsor.
c. Melakukan monitoring dan perbaikan Early Warning
System (EWS).
d. Melakukan monitoring implementasi kerjasama dengan
BMKG dalam pemantauan cuaca, curah hujan,
kegempaan, dan lainnya untuk mitigasi natural disaster.
Hasil:
Tidak ada kejadian bencana alam pada tahun 2025
a. Conducting geohazard assessments using the Geohazard
Emergency Response Readiness Assessment Tool (GERRAT).
b. Implementing mitigation actions such as slope
reinforcement in landslide-prone areas.
c. Monitoring and improving the Early Warning System
(EWS).
d. Monitoring cooperation with BMKG for weather, rainfall,
seismic activity, and other natural disaster mitigation
indicators.
Result:
No natural disaster incidents occurred in 2025
5 Tidak tercapainya HSSE Operational a. Health
excellence • Mengimplementasikan Fit to Work (FTW) salah satunya
Failure to achieve HSSE melalui Medical Check Up (MCU).
excellence • Health Risk Assessment (HRA).
• Mengimplementasikan pengukuran tingkat ergomi dan
parameter fisika lingkungan kerja.
• Melakukan asesmen menggunakan Medical Emergency
Response Readiness Assessment Tools (MERRAT).
b. Safety
• Melakukan monitoring HSSE performance (NoA, TRIR,
dan laporan PEKA), dengan realisasi NoA 0, TRIR PGE
0 (threshold < 0,17).
• Melakukan observation card (PEKA) terdapat 40.756
laporan unsafe act dan unsafe condition dengan closed
rate 87,57% serta report rate 3,92.
• Mengimplementasikan siklus CSMS, mulai dari Pra-
Qualifikasi hingga Final Evaluation vendor.
• Melaksanakan program pengawasan HSSE dengan
melibatkan manajemen secara berkala dalam bentuk
Management Walk Through (MWT), Safety Walk &
Talk (SWAT), serta sosialisasi sebagai peningkatan
awareness dalam aspek HSSE dan lesson learned
kepada pekerja, mitra maupun vendor.
c. Security
• Melakukan monitoring TRIS, dengan realisasi nihil
major security case.
• Melakukan patroli dan pengamanan lebih intensif.
• Menerapkan Sistem Manajemen Pengamanan (SMPg)
di seluruh Area.
• Melakukan Community Based Security Development
untuk koordinasi dengan stakeholder di Area.
d. Environment
• Melakukan monitoring dan evaluasi pelaksanaan
pemantauan lingkungan (pelaksanaan RKL/RPL).
• Mengikuti PROPER dan PERCA.
• ESG risk rating
e. Kebakaran
• Melakukan pengecekan dan monitoring kondisi
fasilitas pemadam kebakaran dalam kondisi layak
dan dapat digunakan serta ketersediaan peralatan
penanggulangan kebakaran.
• Melakukan asesmen menggunakan Fire Emergency
Response Readiness Assessment Tools (FERRAT)
f. Melaksanakan training, sharing knowledge, dan sosialisasi
terkait aspek HSSE
PT Pertamina Geothermal Energy Tbk
Page 415
Laporan Tahunan 2025 | 2025 Annual Report 413
Profil Risiko dan Pengelolaannya
Risk Profile and Management
Risiko Kategori Risiko Tindakan
No
Risk Risk Category Measures
a. Health
• Implementing the Fit to Work (FTW) program including
Medical Check-Ups(MCU).
• Health Risk Assessment (HRA).
• Implementing ergonomic and workplace physical
environment measurements.
• Conducting assessments using the Medical Emergency
Response Readiness Assessment Tools (MERRAT).
b. Safety
• Monitoring HSSE performance (NoA, TRIR, and PEKA
reports).
• Implementing observation cards (PEKA) to report unsafe
acts and unsafe conditions.
• Implementing the CSMS cycle from vendor pre-
qualification to final evaluation.
• Conducting HSSE supervision programs through
Management Walk Through (MWT) and Safety Walk &
Talk (SWAT).
c. Security
• Monitoring the TRIS indicator with zero major security
cases recorded.
• Intensifying patrol and security monitoring.
• Implementing the Security Management System (SMPg)
across all operational areas.
• Implementing Community-Based Security Development
programs with stakeholders.
d. Environment
• Monitoring and evaluating environmental management
and monitoring implementation (RKL/RPL).
• Participating in PROPER and PERCA assessments.
• ESG risk rating
e. Fire
• Monitoring and ensuring that fire protection facilities
are in proper condition and ready for use.
• Conducting assessments using the Fire Emergency
Response Readiness Assessment Tool (FERRAT)
f. Conducting training, knowledge sharing, and socialization
programs related to HSSE aspects.
6 Tidak tercapainya target proyek Business Strategy a. Proyek Lumut Balai Unit 2
pengembangan • Percepatan penyelesaian EPCC.
Failure to achieve development • Percepatan serah terima operasi.
project targets • Melakukan monitoring realisasi fisik dan biaya
b. Proyek Hululais
• Pengadaan lahan FCRS.
• Melakukan pendekatan formal dan informal kepada
key-person PLN dan Pemerintah terkait pembangunan
PLTP dan transmisi.
• Melakukan pemeliharaan sumur.
• Melakukan monitoring realisasi fisik dan biaya.
c. Melakukan penyusunan feasibility study proyek
pengembangan
a. Lumut Balai Unit 2 Project
• Accelerating the completion of EPCC activities.
• Accelerating operational handover.
• Monitoring the realization of physical progress and
project costs.
b. Hululais Project
• Conducting FCRS land acquisition.
• Conducting formal and informal engagement with
key personnel at PLN and the Government regarding
geothermal power plant and transmission development.
• Conducting well maintenance.
• Monitoring the realization of physical progress and
project costs.
c. Preparing feasibility studies for development projects.
PT Pertamina Geothermal Energy Tbk
Page 416
414 Laporan Tahunan 2025 | 2025 Annual Report
Profil Risiko dan Pengelolaannya
Risk Profile and Management
Risiko Kategori Risiko Tindakan
No
Risk Risk Category Measures
7 Kegagalan kegiatan eksplorasi Business Strategy a. Melakukan proses perizinan sesuai target.
Failure of exploration activities b. Melakukan komunikasi dan koordinasi dengan Pemerintah
(ESDM) terkait kelanjutan Izin Panas Bumi.
c. Melakukan pembebasan lahan.
d. Melakukan penyiapan infrastruktur pengeboran.
e. Melakukan pengeboran sumur.
a. Conducting licensing processes according to targeted
schedules.
b. Conducting communication and coordination with the
Government (Ministry of Energy and Mineral Resources –
ESDM) regarding the continuation of geothermal permits.
c. Conducting land acquisition.
d. Preparing drilling infrastructure.
e. Conducting exploration drilling activities.
8 Menurunnya corporate image Corporate Image a. Meningkatkan pemberitaan positif baik untuk aspek
perusahaan finansial, operasional, CSR, proyek strategis melalui press
Decline in the Company’s release rutin, media briefing, dan komunikasi dengan
corporate image analis maupun Key Opinion Leader.
b. Menjalankan program CSR dengan baik dan tepat
sasaran.
c. Penyampaian informasi Perseroan melalui broadcast dan
media sosial Perseroan.
d. Melakukan penyelesaian komplain/ keluhan pelanggan
dengan cepat.
e. Mengadakan investor meeting dan investor engagement
secara berkala sebagai ruang komunikasi dengan investor.
f. Meningkatkan operational excellence.
a. Increasing positive media coverage related to financial
performance, operational activities, CSR programs, and
strategic projects through regular press releases, media
briefings, and communication with analysts and key
opinion leaders.
b. Implementing CSR programs effectively and in a targeted
manner.
c. Delivering company information through corporate
broadcast channels and social media platforms.
d. Resolving customer complaints promptly and effectively.
e. Conducting investor meetings and investor engagement
activities regularly to maintain communication with
investors.
f. Improving operational excellence.
9 Adanya tuntutan hukum Legal, Governance, Compliance a. Melakukan koordinasi internal antar fungsi terkait di
Legal claims or litigation Perusahaan dan koordinasi eksternal dengan instansi
berwenang dan pihak terkait. Apabila diperlukan
melakukan perjanjian jasa hukum dengan konsultan
hukum/external lawyer untuk penanganan proses di
persidangan.
b. Menyusun daftar penaatan peraturan perundangan 1 kali/
tahun terkait proses bisnis Perusahaan, dengan meminta
informasi/updating regulasi kepada seluruh Fungsi
terkait sesuai dengan tupoksi masing-masing, termasuk
hasil evaluasi pemenuhan kepatuhan terhadap peraturan
perundangan yang berlaku. Jika diperlukan dapat
dilakukan pembahasan bersama terhadap suatu regulasi
baru/rancangan regulasi agar proses bisnis Perusahaan
comply terhadap seluruh regulasi yang ada.
a. Conducting internal coordination among relevant
functions within the Company and external coordination
with authorized institutions and related parties. Where
necessary, engaging legal consultants or external lawyers
to handle litigation processes.
b. Preparing an annual regulatory compliance list related to
the Company’s business processes by requesting regulatory
updates from all relevant functions according to their
respective roles and responsibilities, including evaluating
compliance with applicable regulations and conducting
discussions regarding new or draft regulations when
necessary.
PT Pertamina Geothermal Energy Tbk
Page 417
Laporan Tahunan 2025 | 2025 Annual Report 415
Profil Risiko dan Pengelolaannya
Risk Profile and Management
Risiko Kategori Risiko Tindakan
No
Risk Risk Category Measures
10 Kerugian akibat fluktuasi kurs Business Environment a. Melakukan monitoring dan evaluasi selisih kurs.
Losses due to exchange rate b. Melakukan kajian dan pemantauan secara periodik atas
fluctuations akun moneter yang memiliki risiko translasi kurs.
a. Monitoring and evaluating foreign exchange differences.
b. Conducting periodic reviews and monitoring of monetary
accounts exposed to exchange rate translation risk.
11 Adanya cyber attack terhadap Operational a. Melakukan monitoring dan maintenance terhadap
Jaringan & Aplikasi PGE availability server dan backup data storage (High
Cyber attacks on PGE networks availability, Rsync dan time backup).
and applications b. Mengimplementasikan Early Warning System (EWS)
Server berupa notifikasi melalui email.
c. Mengimplementasikan Multi Factor Authentication.
d. Melakukan penetration test secara berkala.
e. Mengimplementasikan Audit tools, event log dan event
viewer.
f. Melakukan automatic update operating system dan
software.
g. Mengimplementasikan SOC (Security Operation Center).
h. Sosialisasi larangan penggunaan software ilegal dan
cyber security serta clean & clear desk melalui broadcast.
a. Monitoring and maintaining server availability and backup
data storage systems (high availability, Rsync, and time
backup).
b. Implementing an Early Warning System (EWS) for servers
through email notifications.
c. Implementing Multi-Factor Authentication.
d. Conducting periodic penetration tests.
e. Implementing audit tools, event logs, and event viewers.
f. Conducting automatic updates of operating systems and
software.
g. Implementing a Security Operation Center (SOC).
h. Conducting awareness programs regarding the prohibition
of illegal software use and cybersecurity practices,
including clean desk and clear desk policies.
12 Menurunnya value PGE sebagai Business Environment a. Melakukan pemenuhan kewajiban pelaporan sebagai
emiten di pasar modal pasca perusahaan terbuka.
IPO b. Melakukan Investor meeting dan Investor engagement
Decline in PGE’s value as a sebagai ruang komunikasi PGE ke investor secara berkala.
listed company after IPO c. Melakukan monitoring dan analisis harga saham di pasar
modal.
d. Melakukan monitoring progres pengembangan proyek
untuk memastikan pencapaian tambahan kapasitas
terpasang berjalan sesuai yang dituangkan dalam
prospektus.
e. Melakukan komunikasi dengan analis maupun investor
dengan menerbitkan investor newsletter.
f. Melakukan monitoring dan analisis kondisi makro ekonomi
yang dapat berdampak pada bisnis perusahaan.
a. Ensuring compliance with reporting obligations as a public
company.
b. Conducting investor meetings and investor engagement
activities regularly as communication channels with
investors.
c. Monitoring and analyzing share price movements in the
capital market.
d. Monitoring development project progress to ensure the
achievement of additional installed capacity as stated in
the prospectus.
e. Communicating with analysts and investors through the
publication of investor newsletters.
f. Monitoring and analyzing macroeconomic conditions that
may impact the Company’s business.
PT Pertamina Geothermal Energy Tbk
Page 418
416 Laporan Tahunan 2025 | 2025 Annual Report
Penilaian dan Evaluasi Efektivitas Sistem Assessment and Evaluation of the
Manajemen Risiko Perusahaan Effectiveness of the Company’s Risk
Management System
Perseroan melalui fungsi Enterprise Risk Management bersama The Company, through the Enterprise Risk Management function
Komite Manajemen Risiko dan Tim Penerapan Manajemen Risiko together with the Risk Management Committee and the Project
Korporat dan Proyek, secara rutin melakukan evaluasi atas Corporate Risk Management Implementation Team, regularly
efektivitas pelaksanaan manajemen risiko melalui monitoring evaluates the effectiveness of risk management implementation
risiko bulanan maupun triwulan. through monthly and quarterly risk monitoring.
Proses evaluasi memastikan bahwa mitigasi risiko telah berhasil The evaluation process ensures that the risk mitigation plan has
dijalankan dan menghasilkan informasi yang penting sebagai been successfully implemented and results in crucial information
pertimbangan untuk rencana pengelolaan risiko Perseroan dan for consideration for the Company’s management plan and future
proyek-proyek ke depan. projects.
5
Hampir Pasti 12 2 6 1
Terjadi
4
Sangat Mungkin 10 10 4
Terjadi
PROBABILITAS
3
Bisa 7 11 3 5 7
Terjadi
2
Jarang 8 9
Terjadi
1
Sangat Jarang
1 2 4 5 6
3
Terjadi 8 9 11 12
1 1 1 1 1
Sangat Rendah Rendah Moderat Tinggi Sangat Tinggi
DAMPAK
Inherent Risk Low Moderate High
Residual Risk Low to Moderate Moderate to High
Secara keseluruhan, hasil monitoring risiko tahun 2025 berjalan Overall, the results of risk monitoring in 2025 were effective
efektif dan mampu menurunkan level risiko sesuai toleransi and managed to reduce the risk level according to management
manajemen, serta Residual Risk Exposure di bawah Batas tolerance, as well as Risk Residual Exposure below the Company’s
Toleransi Risiko Perusahaan. Risk Tolerance Limit.
Sistem Informasi Manajemen Risiko Risk Management Information System
Sistem Informasi Manajemen Risiko sebagai bagian dari sistem The Risk Management Information System, part of the Company’s
informasi Perseroan sebagai alat bantu dalam pengelolaan information system, serves as a tool for risk management. It contains
risiko, yang memuat beberapa informasi terkait aktivitas information related to risk management activities, including a risk
pengelolaan risiko, antara lain risk register, monitoring realisasi register, monitoring of risk mitigation implementation, risk level
mitigasi risiko, status level risiko, dan database loss event. status, and a loss event database.
PT Pertamina Geothermal Energy Tbk
Page 419
Laporan Tahunan 2025 | 2025 Annual Report 417
Perseroan telah menggunakan aplikasi berbasis teknologi The Company has utilized a technology-based application
yang digunakan dalam membantu pengelolaan risiko, yaitu to assist in risk management, namely the Integrated Risk
Integrated Risk Management System (IRMS) yang merupakan Management System (IRMS), a web-based application that assists
aplikasi berbasis web yang membantu dalam melakukan proses in the online risk management process (Scope, Context, Criteria;
manajemen risiko secara online (Scope, Context, Criteria; Risk Risk Identification, Risk Assessment, Risk Treatment, Monitoring &
Identification, Risk Assessment, Risk Treatment, Monitoring & Review, Recording & Reporting).
Review, Recording & Reporting).
Internalisasi Budaya Risiko Internalization of Risk Culture
Dalam mewujudkan budaya risiko, PGE menetapkan rencana To deliver a risk culture, PGE establishes short-term and long-
kerja manajemen risiko jangka pendek dan jangka panjang term risk management work plans outlined in the form of work
yang dituangkan dalam bentuk work plan dan/atau roadmap, plans and/or roadmaps, which contain strategies, work plans,
yang memuat strategi, rencana kerja, sumber daya, waktu dan resources, time and levels with the aim of effective implementation
tingkatan dengan tujuan mengimplementasikan manajemen risiko of risk management. Several work programs have been
secara efektif. Beberapa program kerja yang telah dilakukan undertaken to internalize the Risk Culture Program, namely:
untuk menginternalisasi Program Budaya Risiko:
1. Upskilling manajemen risiko 1. Risk management upskilling
• Training dan sertifikasi manajemen risiko dan SMKB • Risk management and BCMS training and certification
• Keikutsertaan dalam Risk Management Forum Holding • Participation in the Holding and Subholding Risk
and Subholding Management Forum
• Sharing session pengelolaan risiko • Risk management sharing sessions
• Executive briefing pengelolaan risiko • Risk management executive briefings
2. Workshop dan sosialisasi pengelolaan risiko 2. Workshop and dissemination of risk management
3. Broadcast series pengelolaan risiko dan SMKB 3. Risk management and BCMS broadcast series
4. Sosialisasi dan pulse check pengelolaan risiko di Area 4. Risk management outreach and pulse checks in the area
5. Coaching clinic yang merupakan forum konsultasi intensif 5. Coaching Clinic which is an intensive consultation forum
bersama risk owner untuk membahas isu-isu yang sedang with the Risk Owner to discuss issues that are happening in
terjadi di operasional operations.
6. Survei budaya risiko 6. Risk culture surveys
7. Geothermal Risk Management Award yang bertujuan 7. Geothermal Risk Management Awards, which aim to
untuk memberikan apresiasi kepada para leader dan recognize leaders and Risk Management PICs, increase
PIC Manajemen Risiko, meningkatkan engagement, dan engagement, and internalize risk culture among all employees
internalisasi budaya risiko kepada seluruh pekerja
8. Penetapan Key Performance Indicator (KPI) pengelolaan 8. Establishment of Key Performance Indicators (KPIs) for risk
risiko management
Evaluasi atas Efektivitas Sistem Evaluation of the Effectiveness of Risk
Manajemen Risiko Management System
Kegiatan evaluasi Manajemen Risiko meliputi: The risk management evaluation activities include:
1. Responsive to change 1. Responsive to Change
Peninjauan ulang keselarasan kerangka kerja pada Sistem A review of the alignment of the risk management framework
Tata Kerja (STK) manajemen risiko, dan rencana kerja with the Standard Operating Procedures (STK) and the risk
manajemen risiko. management work plan.
2. Maturity Assessment Risk Maturity Assessment merupakan 2. Maturity Assessment
kegiatan pengukuran yang diperlukan untuk mengetahui The Risk Maturity Assessment is a measurement activity
tingkat kematangan suatu perusahaan dalam pengelolaan designed to assess a company’s level of maturity in risk
risiko dan mendapatkan peluang perbaikan untuk secara management. This assessment identifies opportunities for
berkelanjutan membawa perusahaan tersebut mencapai continuous improvement, enabling the company to achieve
tingkat maturitas sesuai dengan tujuannya. the desired level of maturity aligned with its objectives.
PT Pertamina Geothermal Energy Tbk
Page 420
418 Laporan Tahunan 2025 | 2025 Annual Report
Hasil Risk Maturity Assessment tahun 2025 sebagai berikut: The results of the 2025 Risk Maturity Assessment are as
follows:
a. Aspek Dimensi a. Dimensional Aspect
Skor aspek dimensi dihasilkan dari perhitungan rata-rata The dimensional aspect score is calculated by averaging
skor seluruh parameter yang diukur, dimana hasil skor the scores of all measured parameters, with the resulting
aspek dimensi sebesar 3,66. dimensional aspect score being 3.66.
b. Aspek Kinerja b. Performance Aspect
Aspek kinerja terdiri dari Tingkat Kesehatan Peringkat The performance aspect consists of the Final Risk
Akhir (TKPA) dan Peringkat Komposit Risiko (PKR). Soundness Rating (TKPA) and the Composite Risk Rating
Berdasarkan skor Kualitas Penerapan Manajemen Risiko (PKR). Based on the Risk Management Implementation
(KPMR) dan skor pencapaian kinerja, Perseroan berada Quality (KPMR) score and the performance achievement
di PKR 1 dalam matriks PKR, yang artinya risiko terkendali score, the Company is ranked at PKR 1 in the PKR matrix,
sangat baik dan kemungkinan tidak tercapainya target indicating very well-controlled risks and a very low
kinerja tergolong sangat rendah. probability of not achieving performance targets.
Berdasarkan TKPA dan PKR, Risk Maturity Index Perseroan Based on the TKPA and PKR, the Company’s Risk Maturity Index
sebesar 3.7 dan berada di tingkat Fase Praktik yang Baik (+). is 3.7, placing it in the Good Practice Phase (+) level. Several
Beberapa langkah perbaikan untuk meningkatkan penerapan improvement measures to enhance the implementation of Risk
Manajemen Risiko yang telah teridentifikasi pada beberapa Management have been identified across several parameters,
parameter, antara lain: budaya dan kapabilitas risiko, including: risk culture and capabilities, risk organization and
organisasi dan tata kelola risiko, kerangka dan kepatuhan, governance, risk framework and compliance, risk processes
proses dan kontrol risiko, serta model, data dan teknologi and controls, and risk models, data, and technology.
risiko.
3. Rolling risk management work plan 3. Rolling Risk Management Work Plan
Penyesuaian rencana kerja manajemen risiko sebagai Adjustments to the risk management work plan serve as inputs
masukan perbaikan berkelanjutan. for continuous improvement.
Pernyataan Direksi dan/atau Dewan Statement from the Board of Directors
Komisaris Atas Kecukupan Sistem and/or Board of Commissioners on the
Manajemen Risiko Adequacy of Risk Management System
Berdasarkan implementasi dan pengawasan yang dilakukan Based on the implementation and oversight conducted in
dalam menjalankan proses bisnis Perusahaan, Dewan Komisaris executing the Company’s business processes, the Board of
dan Direksi berperan aktif dan menilai bahwa Perusahaan telah Commissioners and the Board of Directors actively participate in
memiliki dan menerapkan Sistem Manajemen Risiko yang baik assessing that the Company has established and implemented a
untuk mengelola risiko-risiko yang dihadapi Perusahaan sesuai robust Risk Management System. This system effectively manages
dengan risk appetite dan toleransi risiko yang telah ditentukan. the risks faced by the Company in alignment with its predefined
risk appetite and tolerance levels.
Penilaian ini antara lain didasarkan pada hasil monitoring risiko This assessment is primarily based on the results of the 2025
tahun 2025 yang berjalan efektif dan mampu menurunkan level risk monitoring, which has been effectively conducted and has
risiko sesuai toleransi manajemen, serta Risk Residual Exposure successfully reduced risk levels within the management’s tolerance
yang berada di bawah Batas Toleransi Risiko Perusahaan. limits. Additionally, the Company’s Risk Residual Exposure
remains below the established Risk Tolerance Threshold.
Struktur Organisasi Fungsi Manajemen Organizational Structure of Enterprise
Risiko Risk Management Function
Fungsi Enterprise Risk Management ditetapkan berdasarkan The Enterprise Risk Management function is determined based on
Surat Keputusan No. Kpts.P-094/PGE000/2024-S8 tanggal Decree No. Kpts.P-094/PGE000/2024-S8 dated 16 December
16 Desember 2024 tentang Struktur Organisasi PT Pertamina 2024 concerning the Organizational Structure of PT Pertamina
Geothermal Energy Tbk. Geothermal Energy Tbk.
PT Pertamina Geothermal Energy Tbk
Page 421
Laporan Tahunan 2025 | 2025 Annual Report 419
Direktur Utama
President Director
Manager Enterprise
Risk Management
SR Analyst
SR Analyst II SR Analyst II Jr Analyst Project Jr-Sr Analyst I-II Jr-Sr Analyst I-II
II Integrated
Risk Planning & Evaluation & Risk & Corporate Operational Risk Contractual Risk
Governance &
Infrastructure Reporting Action & BCM
Business Alignment
Profil Kepala Fungsi Manajemen Risiko Profile of Head of Enterprise Risk
Management Function
Usia | Age 48 tahun | 48 years old
Kewarganegaraan Indonesia | Indonesian
Citizenship
Domisili | Domicile Tangerang Selatan | South Tangerang
Riwayat Pendidikan • Sarjana Hukum - Universitas Sebelas Maret (1999)
Educational Background • Magister Manajemen - Universitas Gadjah Mada (2003)
• Bachelor of Law - Universitas Sebelas Maret (1999)
• Master of Management - Universitas Gadjah Mada (2003)
Pengalaman Kerja • Government & Public Relation Manager – PT Pertamina
Work Experience Geothermal Energy (2017–2023)
• Senior Legal Counsel Business Development – PT Pertamina
Geothermal Energy (2013–2017)
• Junior Counsel Business Development – PT Pertamina
Geothermal Energy (2012–2013)
• PGE Legal Expert – PT Pertamina Geothermal Energy (2008–
2012)
Rangkap Jabatan Tidak memiliki rangkap jabatan
Concurrent Position No concurrent position
Hubungan Afiliasi Tidak memiliki hubungan afiliasi dengan anggota Direksi, anggota
Affiliate Relations Dewan Komisaris dan Pemegang Saham Utama
Does not have any affiliations with members of the Board of
Directors, or fellow members of the Board of Commissioners, nor
with the controlling shareholders.
Sertifikasi Certified Risk Professional (CRP)
Certification
Sentot Yulianugroho
Manager Enterprise Risk Management
Tugas dan Tanggung Jawab Fungsi Risk Duties and Responsibilities of the
Management Enterprise Risk Management Function
Fungsi Enterprise Risk Management mempunyai tugas, tanggung The Enterprise Risk Management function has the following duties,
jawab dan kewenangan sebagai berikut: responsibilities, and authorities:
1. Mengembangkan kebijakan dan prosedur sebagai acuan 1. Develop policies and procedures as a reference for the
pengelolaan risiko Perusahaan dan ditetapkan oleh pejabat Company’s risk management, which are determined by
yang berwenang. authorized officials.
PT Pertamina Geothermal Energy Tbk
Page 422
420 Laporan Tahunan 2025 | 2025 Annual Report
2. Memberikan usulan strategi pengelolaan risiko yang terdiri 2. Submit risk management strategy proposals, consisting of a
dari Risk Appetite Statement, Risk Capacity, Risk Tolerance Risk Appetite Statement, Risk Capacity, Risk Tolerance, and
dan Risk Limit kepada Direksi untuk menjadi salah satu hal Risk Limit, to the Board of Directors to be considered in the
yang diperhatikan dalam pelaksanaan Risk Based Budgeting. implementation of Risk-Based Budgeting.
3. Memantau implementasi kebijakan dan strategi pengelolaan 3. Monitor the implementation of risk management policies and
risiko yang telah disetujui oleh pejabat yang berwenang. strategies approved by authorized officials.
4. Meyakinkan pengukuran risiko menggunakan metode yang 4. Ensure risk measurement uses appropriate/relevant methods
sesuai/relevan dengan kebijakan yang berlaku. in accordance with applicable policies.
5. Mengkaji secara berkala kecukupan dan kelayakan dari 5. Periodically review the adequacy and feasibility of risk
kebijakan, prosedur, dan strategi penerapan pengelolaan management policies, procedures, and implementation
risiko, serta menyampaikan rekomendasi perubahan kepada strategies, and submit recommendations for changes to the
Direksi. Board of Directors.
6. Mengkoordinasikan pelaksanaan Rapat Komite Manajemen 6. Coordinate Risk Management Committee meetings.
Risiko.
7. Melakukan internal control testing guna mengetahui dampak 7. Conduct internal control testing to determine the impact of the
dari implementasi kebijakan dan strategi pengelolaan risiko implementation of risk management policies and strategies on
terhadap kinerja unit operasi. operating unit performance.
8. Mengkoordinasikan pelaksanaan Stress Testing guna 8. Coordinate stress testing to evaluate financial resilience to
mengevaluasi ketahanan keuangan terhadap perubahan changing macroeconomic conditions.
kondisi makro ekonomi.
9. Mengembangkan program budaya risiko Perusahaan sesuai 9. Develop the Company’s risk culture program in accordance
roadmap pengembangan pengelolaan risiko. with the risk management development roadmap.
10. Mengembangkan kompetensi sumber daya manusia yang 10. Develop human resource competencies related to risk
terkait dengan pengelolaan risiko. management.
11. Melakukan pengukuran tingkat maturitas pengelolaan risiko 11. Conduct risk management maturity assessments, led by the
yang diketuai oleh Fungsi Internal Audit untuk meyakinkan Internal Audit Function, to ensure the achievement of a risk
pencapaian tingkatan budaya risiko. culture level.
12. Secara berkala melakukan koordinasi, sosialisasi, serta 12. Periodically coordinate, disseminate information, and provide
pembekalan kebijakan pengelolaan risiko untuk Risk Owner. training on risk management policies to Risk Owners.
13. Menyusun Profil Top Risk Korporasi secara berkala dan 13. Prepare a Corporate Top Risk Profile and submit it to the
menyampaikannya kepada Direksi. Board of Directors.
14. Memantau pengelolaan Top Risk Korporasi, termasuk 14. Monitor the management of Corporate Top Risk, including the
efektivitas Risk Treatment atas risiko korporasi tersebut. effectiveness of Risk Treatment for these corporate risks.
15. Memantau risiko portofolio bisnis Perusahaan. 15. Monitor the Company’s business portfolio risks.
16. Melakukan evaluasi serta memberikan rekomendasi aspek 16. Evaluate and provide recommendations on risk aspects of
risiko atas kegiatan Investasi, Divestasi, dan Aksi Korporasi Investment, Divestment, and Corporate Action activities at the
di tingkat Korporasi kepada pengambil keputusan dengan Corporate level to decision-makers with the following roles:
peran sebagai berikut:
a. Menjadi narasumber (advisor) pelaksanaan a. Serve as a resource person (advisor) for the implementation
RiskAssessment atas kegiatan Investasi, Divestasi, dan of Risk Assessments for Investment, Divestment, and
Aksi Korporasi oleh fungsi pengusul atau lini pertama. Corporate Action activities by the proposing or first-line
function.
b. Menjadi pelaksana review atas hasil Risk Assessment b. Serve as a reviewer of the results of Risk Assessments
yang telah dilakukan oleh fungsi pengusul atau lini conducted by the proposing or first-line function regarding
pertama terkait Investasi/Divestasi/Aksi Korporasi yang proposed Investments/Divestments/Corporate Actions.
diusulkan. Peninjauan Risk Assessment terutama dilakukan Risk Assessment reviews primarily assess the risk level of
terhadap tingkat risiko kegiatan Investasi, Divestasi, dan Investment, Divestment, and Corporate Action activities
Aksi Korporasi dan kemungkinan terjadinya hal-hal and the likelihood of events that could negatively impact
yang memiliki dampak negatif terhadap target Investasi, the targets of those Investments, Divestments, and
Divestasi, dan Aksi Korporasi tersebut. Corporate Actions.
c. Menjadi pelaksana monitoring dan review risiko secara c. Perform periodic risk monitoring and reviews of project
berkala atas pelaksanaan proyek bekerja sama dengan implementation in collaboration with relevant functions.
fungsi terkait.
17. Melakukan pengkajian terhadap risiko pada aktivitas tertentu 17. Conduct risk assessments for specific activities when requested
apabila diminta oleh Direksi. by the Board of Directors.
18. Memelihara data dan informasi mengenai Risk Register, Loss 18. Maintain data and information regarding the Risk Register,
Event yang terjadi, serta dokumen pendukung monitoring Loss Events, and supporting monitoring documents according
sesuai kondisi terkini dan meyakinkan Risk Owner telah to current conditions and ensure that the Risk Owner has
PT Pertamina Geothermal Energy Tbk
Page 423
Laporan Tahunan 2025 | 2025 Annual Report 421
memasukkannya ke dalam Sistem Informasi Manajemen incorporated them into the Risk Management Information
Risiko. System.
19. Mengkoordinasikan pengembangan Sistem Informasi 19. Coordinate the development of the Risk Management
Manajemen Risiko dan pengelolaan database risiko bersama Information System and the management of the risk database
fungsi pengelola teknologi informasi. in collaboration with the information technology management
function.
20. Mengkoordinasikan pemenuhan kebutuhan data dan 20. Coordinate the fulfillment of data and information needs
informasi terkait pengelolaan risiko yang diperlukan oleh related to risk management required by relevant internal
stakeholder internal terkait. stakeholders.
21. Mengusulkan dan merekomendasikan kepada Direksi agar 21. Propose and recommend to the Board of Directors that
keputusan bisnis dilakukan dengan mempertimbangkan business decisions be made taking risk management
prinsip manajemen risiko. principles into account.
22. Menyusun dan menyampaikan laporan pengelolaan risiko 22. Prepare and submit risk management reports with full
dengan prinsip full disclosure secara berkala kepada Direksi. disclosure principles periodically to the Board of Directors.
23. Sebagai sekretariat pengelolaan BCMS/SMKB. 23. Act as the secretariat for BCMS/SMKB management.
Pengembangan Kompetensi Fungsi Competency Development of Enterprise
Enterprise Risk Management Risk Management Function
Fungsi Enterprise Risk Management mengikuti kegiatan pelatihan The Enterprise Risk Management function participates in
dan pengembangan kompetensi di bidang manajemen training and competency development activities in the field of
risiko guna meningkatkan keahliannya. Berikut kegiatan risk management to improve their expertise. The following
pengembangan kompetensi yang diikuti Fungsi Enterprise Risk are competency development activities the Enterprise Risk
Management pada tahun 2025: Management Function attended in 2025:
Pendidikan/Pelatihan/Seminar Penyelenggara Waktu & Tempat
No
Education/Training/Seminars Organizer Date & Place
1. Training Awareness Integrated Management System (IMS) PT Pertamina Geothermal Energy Tbk 13 -14 dan 20 Januari 2025
ISO 9001,14001, 45001 13-14 and 20 January 2025
2. Training Sistem Manajemen Anti Penyuapan (SMAP) ISO 37001 PT Pertamina Geothermal Energy Tbk 21 Januari 2025
ISO 37001 Anti-Bribery Management System (ABMS) Awareness 23 Januari 2025
Training 21 January 2025
23 January 2025
3. Sosialisasi Mitigasi Risiko Translasi PT Pertamina (Persero) 22 Januari 2025
Translation risk mitigation socialization 22 January 2025
4. Pelatihan Lead Auditor CQI IRCA ISO 9001:2015 QMS PT Pertamina Geothermal Energy Tbk - 3-7 Februari 2025
CQI IRCA ISO 9001:2015 QMS Lead Auditor Training Robere & Associates 3-7 February 2025
5. Business Continuity Management System Insight "A Benchmarks PT Pertamina Power Indonesia 5 Februari 2025
from Risk Management of State-Owned Enterprise in The Energy 5 February 2025
Sector PLN Group
6. Training Awareness Business Continuity Management System PT Pertamina (Persero) 12 Februari 2025
ISO 22301:2019 13 Februari 2025
12 February 2025
13 February 2025
7. Risk Management Forum: Emerging Risk Management Overview PT Pertamina (Persero) 25 Februari 2025
25 February 2025
8. Training Awareness Pengelolaan dan Penguatan Penerapan PT Pertamina (Persero) 22 April 2025
Sistem Manajemen Kelangsungan Bisnis (SMKB) Berdasarkan ISO
22302:2019 BCMS
Awareness Training for Management and Strengthening the
Implementation of Business Continuity Management Systems
(BCMS) Based on ISO 22302:2019 BCMS
9. Risk Management Forum: Pengelolaan Risiko Operasional Pipa PT Pertamina (Persero) 24 April 2025
Transmisi Dengan Penggunaan Teknologi Inspeksi Inline
Risk Management Forum: Managing Transmission Pipeline
Operational Risks Using Inline Inspection Technology
10. Risk Management Forum: Memahami Risiko dalam Implementasi PT Pertamina (Persero) 28 April 2025
UU PDP
Risk Management Forum: Understanding the Risks in Implementing
the PDP Law
PT Pertamina Geothermal Energy Tbk
Page 424
422 Laporan Tahunan 2025 | 2025 Annual Report
Pendidikan/Pelatihan/Seminar Penyelenggara Waktu & Tempat
No
Education/Training/Seminars Organizer Date & Place
11. Sosialisasi Pedoman Manajemen Risiko Subholding Power & PT Pertamina Power Indonesia 2 Mei 2025
New Renewable Energy 2 May 2025
Socialization of Subholding Power & New Renewable Energy Risk
Management Guidelines
12. Sosialisasi Perhitungan Project Risk Rating Pertamina PT Pertamina (Persero) 2 Mei 2025
Socialization of Pertamina’s Project Risk Rating Calculation 2 May 2025
13. Training Corporate Sustainability Strategy Awareness PT PGE Tbk PT Pertamina Geothermal Energy Tbk 5-6 Mei 2025
PT PGE Tbk Corporate Sustainability Strategy Awareness Training May 5-6 2025
14. Refreshment Business Continuity Management System dan PT Pertamina Geothermal Energy Tbk 16 Mei 2025
Sosialisasi Modul Business Continuity Management 16 May 2025
Business Continuity Management System Refreshment and
Business Continuity Management socialization
15. Risk Management Forum: Subsidiary Risk Level Mapping"Risk PT Pertamina (Persero) 23 Mei 2025
Oversight Tool for more than 260 Pertamina Affiliate Companies" 23 May 2026
16. Training Proyek Risk Management PT Pertamina Geothermal Energy Tbk 2-3 Juni 2025
Risk Management Project Training 22-23 September 2025
2-3 June 2025
September 22-23, 2025
17. Risk Management Forum: The Next Black Swan, Are We Ready? PT Pertamina (Persero) 30 Juni 2025
30 June 2025
18. Certified Risk Professional (CRP) PT Pertamina Geothermal Energy Tbk 7-11 Juli 2025
11-13 Agustus 2025
7-11 July 2025
11-13 August 2025
19. Risk Management Forum: "Mengelola Risiko Counterparty dan PT Pertamina (Persero) 30 Juli 2025
Contractual secara terpadu" 30 July 2025
Risk Management Forum: “Managing Counterparty and
Contractual Risks in an Integrated Manner”
20. Risk Management Forum: "Pengelolaan Risiko Operasional : Studi PT Pertamina (Persero) 4 Agustus 2025
Kasus "Congealed Oil Mitigation" 4 August 2025
Risk Management Forum: “Operational Risk Management: A Case
Study of Congealed Oil Mitigation”
21. Sharing Session dan Diskusi pelaksanaan ICT di Subholding Power PT Pertamina Power Indonesia 4 Agustus 2025
& New Renewable Energy 4 August 2025
Sharing Session and Discussion on ICT Implementation at
Subholding Power & New Renewable Energy
22. Risk Management Forum: "Pengaruh Risiko Geopolitik Terhadap PT Pertamina (Persero) 5 Agustus 2025
Bisnis Kilang" 5 August 2025
Risk Management Forum: “The Impact of Geopolitical Risk on the
Refinery Business”
23. Webinar Series ke-5 dengan tema "Masa Depan Bersama : PT Pertamina Geothermal Energy Tbk 12 September 2025
Partisipasi masyarakat dalam pengembangan panas bumi yang
berkelanjutan di Indonesia"
The 5th Webinar Series with the theme “A Shared Future:
Community Participation in Sustainable Geothermal Development
in Indonesia”
24. Sosialisasi & Pulse Check Pengelolaan Risiko Area Lahendong dan PT Pertamina Geothermal Energy Tbk 7-10 Oktober 2025
Proyek Lahendong 7&8 7-10 October 2025
Socialization & Pulse Check of Risk Management in the Lahendong
Area and Lahendong 7&8 Projects
25. Narasumber dalam Focus Group Discussion (FGD) terkait kajian Direktorat Jenderal Energi Baru, 9-10 Oktober 2025
dan kebijakan subsektor Panas Bumi dan Minerba Terbarukan dan Konservasi Energi, 9-10 October 2025
Resource persons in the Focus Group Discussion (FGD) regarding Kementerian ESDM
studies and policies in the Geothermal and Mineral and Coal sub-
sectors
26. Risk Management Forum: "Turning Green into Gold" Unpacking the PT Pertamina (Persero) 20 Oktober 2025
Risks of Indonesia's Renewable Energy Industry 20 October 2025
27. Sosialisasi & Refreshment Pengelolaan Risiko, Sosialisasi STK PT Pertamina Geothermal Energy Tbk 21-23 Oktober 2025
Pengelolaan Risiko yang berlaku di PT PGE, Sosialisasi & 21-23 October 2025
Refreshment Evaluasi Keefektifan Pengelolaan Risiko (Pengukuran
Komposit Risiko – KPMR & Kinerja)
Socialization & Refreshment of Risk Management, Socialization
of STK Risk Management applicable at PT PGE, Socialization &
Refreshment of Evaluation of Risk Management Effectiveness (Risk
Composite Measurement – KPMR & Performance)
PT Pertamina Geothermal Energy Tbk
Page 425
Laporan Tahunan 2025 | 2025 Annual Report 423
Pendidikan/Pelatihan/Seminar Penyelenggara Waktu & Tempat
No
Education/Training/Seminars Organizer Date & Place
28. Risk Management Forum: "Business Continuity Through Smart Asset PT Pertamina (Persero) 25 November 2025
Integrity"
29. Executive Briefing Hasil Risk Maturity Assessment 2025 & PT Pertamina Geothermal Energy Tbk 3 Desember 2025
Geothermal Risk Management Award 2025 9 December 2025
Executive Briefing on the Results of the 2025 Risk Maturity
Assessment & 2025 Geothermal Risk Management Award
30. Risk Management Forum: "Regulator – Gas Business Entity Synergy PT Pertamina (Persero) 9 Desember 2025
for Stronger Risk Governance" 9 December 2025
Pelaksanaan Kegiatan Fungsi Implementation of Enterprise Risk
Risk Management Tahun 2025 Management Function Activities in 2025
Fungsi Enterprise Risk Management bertanggung jawab The Enterprise Risk Management function is responsible for
melaksanakan kebijakan Enterprise Risk Management Perseroan. implementing the Company’s Enterprise Risk Management policy.
Selain itu, fungsi ini memastikan penerapan proses ERM pada Furthermore, this function ensures the implementation of ERM
setiap proses aktivitas ongoing business maupun business processes in every ongoing business and business development
development di Perseroan, dengan berpedoman pada prinsip activity within the Company, guided by the principles of efficiency
efisiensi dan efektivitas biaya, pencegahan persepsi negatif and cost-effectiveness, preventing negative perceptions of the
terhadap citra Perseroan, meminimalkan risiko, dan optimalisasi Company’s image, minimizing risk, and optimizing profits.
keuntungan.
Kegiatan Periode Keterangan
No
Activity Period Description
1 Penetapan strategi pengelolaan Tahunan Sebagai acuan besaran jumlah risiko yang dapat diterima setelah melakukan tindakan
risiko Annually perlakuan risiko yang ditetapkan sesuai dengan situasi dan kondisi Perseroan,
Determination of risk yang terdiri dari Risk Appetite Statement, ambang batas risiko, dan matrik strategi
management strategy pengelolaan risiko.
As a reference for the amount of risk that can be accepted after carrying out risk
treatment actions determined in accordance with the Company’s situation and conditions,
which consist of the Risk Appetite Statement, risk threshold, and risk management
strategy matrix.
2 Penyediaan infrastruktur Tahunan Pemenuhan organisasi manajemen risiko, implementasi tiga lini, penyediaan sistem
pengelolaan risiko Annually informasi manajemen risiko, dan Sistem Tata Kerja (STK).
Provision of risk management
infrastructue Fulfillment of risk management organization, implementation of three lines, provision of
risk management information system, and Work Procedure System (STK).
3 Pengelolaan risiko ongoing business
Ongoing business risk management
a. Risk Assessment Tahunan Risk Assessment dilakukan terhadap Pengelolaan risiko korporasi (Top Risk) dan
Annually pengelolaan risiko Fungsi dan Area.
Risk Assessment is carried out on Corporate Risk Management (Top Risk) and Function
and Area Risk Management.
b. Monitoring Risiko Bulanan, Monitoring Risiko dilakukan terhadap Top Risk Perseroan, Fungsi, dan Area.
Triwulanan
Monthly, Risk Monitoring is carried out on the Company’s Top Risks, Functions and Areas.
Quarterly
4 Pengelolaan project risk dan aksi korporasi
Project risk management and corporate actions
a. Risk Assessment Tahunan Risk Assessment dilakukan terhadap pengelolaan risiko proyek eksplorasi maupun
Annually pengembangan.
Risk Assessment is carried out on risk management of exploration and development
projects.
b. Monitoring Risiko Bulanan, Monitoring Risiko dilakukan terhadap pengelolaan risiko proyek eksplorasi maupun
Triwulanan pengembangan.
Monthly,
Quarterly Risk monitoring is carried out on risk management of exploration and development
projects.
c. Gate Review proyek Disesuaikan Sebagai gate reviewer yang melakukan review atas usulan proyek eksplorasi,
dengan usulan pengembangan maupun aksi korporasi.
proyek
Adapted to the As a gate reviewer who reviews proposed exploration, development and corporate
project proposal action projects.
PT Pertamina Geothermal Energy Tbk
Page 426
424 Laporan Tahunan 2025 | 2025 Annual Report
Kegiatan Periode Keterangan
No
Activity Period Description
5 Pengelolaan portfolio risk Semester Dilakukan terhadap proyek pengembangan dengan memperhatikan update
Portfolio risk management keekonomian proyek, faktor risiko serta potensi terjadinya risiko secara sistemik.
This is done on development projects by paying attention to updates on the project’s
economics, risk factors and the potential for systemic risks.
6 Pengelolaan Contractual Risk Tahunan Dilakukan untuk meminimalkan risiko dispute/sengketa yang disebabkan oleh
Contractual Risk Management Annually perbedaan pemahaman dan perubahan kontrak dan/atau wanprestasi dan pelanggaran
terhadap kontrak.
This is done to minimize the risk of disputes caused by differences in understanding and
changes to the contract and/or default and violation of the contract.
7 Pengelolaan Emerging Risk Tahunan Dilakukan komunikasi dengan Sub Holding dan Holding terkait pemetaan Area yang
Emerging Risk Management Annually berpotensi terjadi longsor dan penyusunan Sistem Tata Kerja.
Communication was carried out with Sub Holding and Holding regarding mapping of
areas with the potential for landslides and the preparation of a Work Procedure System.
8 Pelaksanaan Stress Testing Tahunan Dilakukan untuk mengukur dampak eksternal terhadap kondisi selain asumsi yang
Implementation of Stress Testing Annually direncanakan dalam RKAP. Skenario yang digunakan adalah trump effect, moderate dan
worst.
Conducted to measure external impacts on conditions other than the assumptions planned
in the RKAP. The scenarios used are the trump effect, moderate, and worst-case scenarios.
9 Pelaksanaan Sistem Tahunan Pengujian yang dilakukan untuk menilai kecukupan desain pengendalian dan efektivitas
Pengendalian Internal (Internal Annually internal control yang dilakukan oleh lini kedua, dimana tingkat keluasan, kedalaman
Control) sampel, dan frekuensi internal control testing lebih sederhana bila dibandingkan
Implementation of Internal pengujian yang dilakukan lini ketiga.
Control System
Testing is carried out to assess the adequacy of control design and the effectiveness
of internal control carried out by the second line, where the level of breadth, depth of
sample, and frequency of internal control testing is simpler when compared to testing
carried out by the third line.
10 Penerapan Sistem Manajemen Triwulanan Dilakukan serangkaian kegiatan untuk mendukung audit surveillance SMKB ISO
Kelangsungan Bisnis (SMKB) Quarterly 22301:2019, di mana hasil audit menunjukkan bahwa tujuan audit telah tercapai,
Implementation of Business cakupan sesuai, dan direkomendasikan sertifikat ISO 22301:2019 dapat dilanjutkan.
Continuity Management System
(BCM) A series of activities were carried out to support the ISO 22301:2019 SMKB surveillance
audit, where the audit results showed that the audit objectives had been achieved, the
scope was appropriate, and it was recommended that the ISO 22301:2019 certificate
could be continued.
11 Pengembangan budaya risiko Bulanan Dilakukan program budaya risiko, di antaranya upskilling manajemen risiko, workshop
Developing a risk culture Monthly dan sosialisasi pengelolaan risiko, broadcast series pengelolaan risiko dan SMKB,
sosialisasi dan pulse check pengelolaan risiko di Area, coaching clinic yang merupakan
forum konsultasi intensive bersama risk owner untuk membahas isu-isu yang sedang
terjadi di operasional, survei budaya risiko, Geothermal Risk Management Award, serta
penetapan Key Performance Indicator (KPI) pengelolaan risiko.
Risk culture programs are carried out, including risk management upskilling, risk
management workshops and socialization, risk management and SMKB broadcast series,
socialization and risk management pulse checks in the Area, coaching clinics which
are intensive consultation forums with risk owners to discuss issues that are occurring
in operations, risk culture surveys, Geothermal Risk Management Awards, and the
determination of Key Performance Indicators (KPIs) for risk management.
12 Pengukuran Tingkat Maturitas Tahunan Dilakukan penilaian oleh asesor eksternal, di mana Risk Maturity Index Perseroan
Pengelolaan Risiko Annually sebesar 3,7 dan berada di tingkat Fase Praktik yang Baik (+).
Measuring Risk Management
Maturity Level An assessment was carried out by an external assessor, where the Company’s Risk
Maturity Index was 3.7 and was at the Good Practice Phase (+) level.
13 Pelaporan Manajemen Risiko Bulanan Penyampaian laporan monitoring Top Risk PGE dan Proyek Prioritas kepada Subholding
Risk Management Reporting Monthly PNRE.
Submission of PGE Top Risk and Priority Project monitoring reports to PNRE Subholding.
Triwulanan Penyampaian laporan monitoring risiko korporasi/ Top Risk Perseroan kepada Komite
Quarterly Manajemen Risiko, Dewan Komisaris Perseroan, dan Subholding PNRE.
Submission of corporate risk monitoring reports/Top Risk of the Company to the
Risk Management Committee, the Company’s Board of Commissioners, and PNRE
Subholding.
PT Pertamina Geothermal Energy Tbk
Page 427
Laporan Tahunan 2025 | 2025 Annual Report 425
Asuransi Aset Perseroan Corporate Asset Insurance
Sebagai bagian dari strategi pengelolaan risiko untuk mengurangi As part of its risk management strategy to minimize potential
potensi kerugian operasional dan finansial terkait aset, penurunan operational and financial losses related to assets, corporate
pendapatan perusahaan, serta tanggung jawab hukum revenue decline, and legal liabilities to third parties arising from
terhadap pihak ketiga yang timbul akibat peristiwa tak terduga, unforeseen events, the Company mitigates risks by transferring
Perusahaan melakukan mitigasi risiko dengan mentransfer risiko them through insurance. In 2025, the Company has secured
melalui asuransi kepada PT Asuransi Tugu Pratama Indonesia sebagai insurance policies with the following details:
penanggung. Pada tahun 2025, Perusahaan telah memiliki polis
asuransi dengan rincian sebagai berikut:
1. Jenis/Polis | Type/Policy
Property All Risk
(1 Desember 2023 - 31 Mei 2025), (1 Juni 2025 - 31 Mei 2026)
(1 December 2023 - 31 May 2025), (1 June 2025 - 31 May 2026)
Obyek Pertanggungan Batas Tanggung Jawab
Insured Objects Limit of Liability (USD)
Upstream Asset
Aset hulu (Upstream Asset) Perusahaan yang terletak di WKP Sibayak, Kamojang, Lahendong, Ulubelu, Lumut Balai,
dan Karaha.
100.000.000
The Company’s upstream assets are located in Sibayak, Kamojang, Lahendong, Ulubelu, Lumut Balai, and Karaha
Geothermal Work Areas.
Building Asset
Aset Perusahaan berupa gedung dan kantor yang terletak di WKP Sibayak, Kamojang, Lahendong, Ulubelu, Lumut
Balai, dan Karaha.
100.000.000
The Company’s assets are in the form of buildings and offices located in Sibayak, Kamojang, Lahendong, Ulubelu,
Lumut Balai, and Karaha Geothermal Work Areas.
Cost Of Well Control
Biaya pengendalian dan pengeboran ulang sumur di darat/biaya tambahan terkait di WKP Kamojang, Lahendong,
Ulubelu, Lumut Balai, Karaha, dan Hululais.
10.000.000
Costs for well control and onshore redrilling, along with related additional expenses, in Kamojang, Lahendong,
Ulubelu, Lumut Balai, Karaha, and Hululais Geothermal Work Areas.
Pipeline Asset
Aset pipa Perusahaan yang terletak di WKP Sibayak, Kamojang, Lahendong, Ulubelu, Lumut Balai, dan Karaha.
3.000.000
The Company’s pipeline assets located in Sibayak, Kamojang, Lahendong, Ulubelu, Lumut Balai, and Karaha
Geothermal Work Areas.
Heavy Equipment
Menjamin “Semua Risiko” atas setiap kerugian atau kerusakan fisik pada peralatan yang dideklarasikan selama
berada pada lokasi atau wilayah geografis yang disebutkan dalam Polis, yang terjadi secara tiba-tiba dan tidak
terduga atau kerusakan lainnya yang tidak dikecualikan oleh polis, yang terletak di WKP Sibayak.
92.632
Covering “All Risks” for any loss or physical damage to the declared equipment while located within the geographical
area specified in the Policy, arising suddenly and unexpectedly or any other damage not excluded by the policy,
located in Sibayak Geothermal Work Area.
Terrorism And Sabotage
Semua harta benda riil dan pribadi apapun sifat, jenis dan deskripsinya sebagai akibat dari terorisme dan risiko-
risiko yang dijamin berdasarkan LPO 437.
100.000.000
All real and personal property, regardless of nature, type, or description, resulting from terrorism and risks covered
under LPO 437.
Business Interruption
Gangguan usaha (Business Interruption) untuk hilangnya Pendapatan Kotor sebagai akibat dari penurunan omzet
dan/atau kenaikan Biaya Kerja sebagaimana didefinisikan dalam Naskah Gangguan Usaha standar Munich Re
yang diakibatkan oleh kehilangan atau kehancuran atau kerusakan karena sebab atau peristiwa apa pun yang
tercakup dalam bagian Kerusakan Materi aset hulu, aset bangunan, dan aset pipa.
8.500.000
Business Interruption for the loss of Gross Revenue due to a decline in turnover and/or an increase in Working
Costs, as defined in the standard Munich Re Business Interruption Wordings, caused by loss, destruction, or damage
resulting from any cause or event covered under the Material Damage section for upstream assets, building assets,
and pipeline assets.
PT Pertamina Geothermal Energy Tbk
Page 428
426 Laporan Tahunan 2025 | 2025 Annual Report
2. Directors and Officers Liability Insurance
(9 April 2024 - 9 April 2025), (9 April 2025 - 9 Juli 2025), (9 Juli 2025 - 9 Juli 2026)
(9 April 2024 - 9 April 2025), (9 April 2025 - 9 July 2025), (9 July 2025 - 9 July 2026)
Obyek Pertanggungan Batas Tanggung Jawab
Insured Objects Limit of Liability (USD)
Setiap klaim dan gabungan seluruh klaim.
Each Claim and Aggregate of All Claims.
Biaya Pembelaan untuk Pelanggaran Lingkungan.
Defense Costs for Environmental Violations.
Biaya Pembelaan untuk Cedera Badan dan/atau Kerusakan Harta Benda.
Defense Costs for Bodily Injury and/or Property Damage
Biaya Hubungan Publik
Public Relations Costs
Biaya Pembebasan Harta Benda
Asset Release Costs
Biaya Pemeriksaan
Investigation Costs
50.000.000
Biaya Pra-Pemeriksaan
Pre-Investigation Costs
Biaya Sekuritas Perusahaan
Corporate Security Costs
Pelanggaran Praktik Ketenagakerjaan Perusahaan
Violations of Employment Practices
Biaya-biaya Ekstradisi
Extradition Costs
Klaim atas setiap Direktur pemegang polis
Claims Against Any Policyholder Director
Biaya-biaya keadaan darurat
Emergency Costs
3. Public Liability Insurance
(1 Juli 2024 - 30 Juni 2025), (1 Juli 2025 - 30 Juni 2026)
(1 July 2024 - 30 June 2025), (1 July 2025 - 30 June 2026)
Obyek Pertanggungan Batas Tanggung Jawab
Insured Objects Limit of Liability (USD)
Menjamin tanggung jawab hukum Tertanggung kepada pihak ketiga sehubungan dengan cedera badan yang
bersifat kecelakaan dan/atau kerugian dan kerusakan harta benda yang timbul dari kegiatan-kegiatan usaha/
aktivitas Tertanggung.
20.000.000
Covering the Insured’s legal liability to third parties for accidental bodily injury and/or loss or damage to property
arising from the Insured’s business activities/operations.
PT Pertamina Geothermal Energy Tbk
Page 429
Laporan Tahunan 2025 | 2025 Annual Report 427
Perkara Hukum yang Berdampak
Material Terhadap Perseroan,
Entitas Anak, Dewan
Komisaris, Dan Direksi
Tahun 2025
Management of Conflict of Interests of The Board of Commissioners
and The Board of Directors
Sepanjang tahun 2025 tidak terdapat perkara hukum yang Throughout 2025, there were no lawsuits with material impact on
berdampak material terhadap Perseroan, entitas Anak, Dewan the Company, its Subsidiaries, the Board of Commissioners, or
Komisaris dan Direksi Perseroan. the Board of Directors.
Perkara Hukum yang sedang Dihadapi Legal Cases Currently Facing the Board
Dewan Komisaris dan Direksi of Commissioners and Directors
Pada tahun 2025 tidak terdapat permasalahan hukum yang In 2025, there were no ongoing lawsuits faced by the incumbent
sedang dihadapi Dewan Komisaris dan Direksi yang sedang Board of Commissioners and Board of Directors.
menjabat.
Perkara Hukum Anak Perusahaan Subsidiary Legal Issues
Selama tahun 2025 tidak terdapat permasalahan hukum yang During 2025, there were no legal issues facing the Subsidiary.
sedang dihadapi Anak Perusahaan.
Sanksi Administrasi/ Sanksi Lain Administrative Sanctions/Other
Sanctions
Tidak terdapat sanksi administratif maupun sanksi lain yang There were no administrative or other sanctions that had material
berdampak material terhadap kegiatan operasional dan impact on the Company’s operational activities and business
kelangsungan bisnis Perseroan di sepanjang tahun 2025. continuity throughout 2025.
PT Pertamina Geothermal Energy Tbk
Page 430
428 Laporan Tahunan 2025 | 2025 Annual Report PT Pertamina Geothermal Energy Tbk
Page 431
Laporan Tahunan 2025 | 2025 Annual Report 429
Kode Etik
Code of Ethics
Perseroan memiliki Pedoman Etika Usaha dan Tata Perilaku atau The Company has Business Ethics and Code of Conduct (CoC)
Code of Conduct (CoC) yang menjadi panduan standar perilaku that serve as standard guidelines for ethical behavior in business
dalam berbisnis dan berinteraksi dengan pihak eksternal atau operations and interactions with external parties or stakeholders.
pemangku kepentingan.
Agar dapat diketahui oleh semua pihak, Kode Etik Perseroan To ensure accessibility for all parties, the Company’s Code of
yang disahkan pada tanggal 31 Mei 2023 melalui Surat Ethics, which was ratified on 31 May 2023 through Decrees
Keputusan No. Kpts-035/DK/ PGE/2023-S0 dan No. Kpts- No. Kpts-035/DK/PGE/2023-S0 and No. Kpts-036/
036/PGE000/2023-S0, telah dimuat di dalam situs web PGE000/2023-S0, has been published on the Company’s
Perseroan https:// www.pge.pertamina.com/Media/Uploads/ website: https://www.pge. pertamina.com/Media/Uploads/
keberlanjutan/file/Code_of_Conduct_-_PGEO%20update.pdf. keberlanjutan/file/ Code_of_Conduct_-_PGEO%20update.pdf.
Pokok-Pokok Kode Etik Key Principles of the Code of Ethics
Muatan Penjelasan
Contents Description
Pendahuluan Memuat latar belakang, pengertian, visi, misi, dan tata nilai Perseroan, maksud, dan tujuan,
Introduction manfaat dan daftar istilah.
Includes the background, definitions, vision, mission, corporate values, objectives, benefits, and
glossary.
Prinsip Tata Kelola Perusahaan yang Baik Merupakan penjabaran dari prinsip tata kelola perusahaan yang baik.
Principles of Good Corporate Governance
An elaboration on the principles of good corporate governance.
Etika Usaha Perseroan Meliputi standar etika hubungan dengan para pemangku kepentingan, dan standar etika terkait
Corporate Business Ethics aspek khusus meliputi kebijakan akuntansi dan keuangan, pemberian donasi, dan transaksi afiliasi.
Covers ethical standards in stakeholder relationships and ethical standards related to specific
aspects such as accounting and financial policies, donations, and affiliate transactions.
Standar Tata Perilaku Meliputi standar perilaku terkait hubungan kerja antar pekerja, hubungan atasan dan bawahan,
Standards of Conduct lingkungan kerja yang bebas dari diskriminasi, pelecehan, perbuatan asusila, ancaman, dan
kekerasan serta standar perilaku terkait aspek khusus antara lain pengaturan benturan kepentingan,
gratifikasi, penyuapan, aktivitas sosial, dan aktivitas politik Encompasses behavioral standards in.
Encompasses behavioral standards in workplace relationships among employees, superior-
subordinate relationships, and a work environment free from discrimination, harassment, immoral
acts, threats, and violence. It also covers specific aspects such as management of conflict of interest,
gratuities, bribery, social activities, and political activities.
Pelaksanaan Etika Usaha dan Tata Perilaku Meliputi penerapan etika usaha dan tata perilaku, sosialisasi, dan internalisasi, pelaporan,
Implementation of Business Ethics and Conduct penanganan, dan penegakan pelanggaran, serta pembaruan atau revisi pedoman etika usaha,
dan tata perilaku.
Covers the application of business ethics and conduct, dissemination and internalization, reporting,
handling and enforcement of violations, as well as updates or revisions to the business ethics and
conduct guidelines.
PT Pertamina Geothermal Energy Tbk
Page 432
430 Laporan Tahunan 2025 | 2025 Annual Report
Penerapan dan Penyebarluasan Implementation and Dissemination
Kode Etik of the Code of Ethics
Kode Etik berlaku bagi semua insan Perseroan di seluruh level The Code of Ethics applies to all individuals within the Company
organisasi, tanpa terkecuali. Perseroan secara teratur melakukan at every organizational level, without exception. The Company
sosialisasi dan kampanye peningkatan kesadaran Kode Etik regularly conducts Code of Ethics awareness campaigns and
untuk meningkatkan pemahaman dan komitmen bersama atas dissemination programs to enhance understanding and foster
penerapan Kode Etik kepada Direksi, Dewan Komisaris, dan collective commitment to implementing the Code of Ethics among
seluruh pekerja. the Board of Directors, the Board of Commissioners, and all
employees.
Penyelenggaraan sosialisasi dijalankan oleh fungsi Legal & The dissemination is conducted by the Legal & Compliance
Compliance berkoordinasi dengan fungsi Sekretaris Perusahaan. function in coordination with the Corporate Secretary function.
Perseroan melakukan sosialisasi melalui berbagai sarana baik The Company conducts the activity by utilizing various online and
luring maupun daring seperti broadcast email, informasi di offline channels, including broadcast emails, information shared
portal perusahaan dan situs web, serta penerapan kewajiban on the corporate portal and website, as well as the obligation to
pengisian pernyataan komitmen dalam GCG Online System periodically submit a commitment statement
secara berkala.
Pada tahun 2025, seluruh (100%) Pekerja Perseroan telah In 2025, all (100%) Company Employees completed the
melakukan pengisian pernyataan komitmen Kode Etik di dalam commitment statement for the Code of Ethics in the GCG Online
GCG Online System. Menurut catatan Perseroan, selama tahun System. According to the Company’s records, no reports of Code
2025 tidak terdapat laporan terkait pelanggaran Kode Etik di of Ethics violations were submitted through the GCG Online
GCG Online System. System throughout 2025.
Perseroan juga aktif menggelar pelatihan, kampanye dan sosialisasi The Company has also been actively conducting training
Kode Etik yang mencakup anti korupsi, anti gratifikasi, penerapan sessions, campaigns, and dissemination programs related to
Whistleblowing System (WBS), insider trading, dan lain-lain. the Code of Ethics, covering topics such as anti-corruption, anti-
Informasi lengkap terkait kegiatan pelatihan dan sosialisasi terkait gratuity, the implementation of the Whistleblowing System (WBS),
Kode Etik terdapat pada sub bab Internalisasi dan Monitoring insider trading, and other relevant matters. Detailed information
Penerapan GCG serta sub bab Sosialisasi Whistleblowing System regarding training and dissemination activities on the Code of
(WBS) pada Bab Tata Kelola Perusahaan ini. Ethics can be found in the sub-chapter of the Internalization and
Monitoring of GCG Implementation as well as the sub-chapter
of the Whistleblowing System (WBS) Dissemination in this Good
Corporate Governance chapter.
Kebijakan Penegakan Kode Etik Code of Ethics Enforcement Policy
Pelanggaran Kode Etik merupakan hal serius yang dapat Violations of the Code of Ethics are considered a serious matter
mengakibatkan sanksi disipliner, mulai dari teguran lisan hingga and may result in disciplinary sanctions, ranging from verbal
pemutusan hubungan kerja. Perseroan mendorong pekerja warnings to employment termination. The Company encourages
untuk melaporkan setiap potensi pelanggaran Kode Etik melalui employees to report any potential breaches of the Code of
mekanisme pelaporan atau WBS, yang menjamin kerahasiaan Ethics through the designated reporting mechanism or WBS,
pelapor dan pelaporan itu sendiri. which ensures the confidentiality of both the whistleblower and
the report itself.
PT Pertamina Geothermal Energy Tbk
Page 433
Laporan Tahunan 2025 | 2025 Annual Report 431
Whistleblowing System (WBS)
Whistleblowing System (WBS)
Sistem Whistleblowing (WBS) merupakan suatu sistem pelaporan The Whistleblowing System (WBS) is a violation reporting system
pelanggaran yang disediakan perusahaan sebagai salah satu provided by the company as an effort to early detect fraud and
upaya dalam deteksi dini terjadinya fraud dan pengendalian improve internal controls. The company provides an opportunity
internal. Perseroan memberikan kesempatan kepada siapapun for anyone, both internally and externally, to report incidents or
baik di lingkungan internal maupun eksternal perusahaan untuk actions that potentially violate the law, the code of ethics, or good
melaporkan kejadian, tindakan yang berpotensi melanggar governance principles within the company.
hukum, kode etik, atau prinsip tata kelola yang baik di lingkungan
Perseroan.
Sebagai bagian anak usaha PT Pertamina (Persero), WBS di As a subsidiary of PT Pertamina (Persero), the WBS at PGE has
PGE dikelola secara terpusat oleh fungsi Investigation Audit yaitu been centrally managed by the Investigation Audit function,
WBS and Fraud Prevention (IWF) PT Pertamina (Persero) sejak namely WBS and Fraud Prevention (IWF) of PT Pertamina
19 Januari 2022. (Persero), since 19 January 2022.
MEKANISME PELAPORAN REPORTING MECHANISM
Perseroan menyediakan sarana atau saluran pelaporan yang The company provides a centralized reporting facility or channel
terpusat melalui Pertamina Clean yang dapat diakses oleh pihak through Pertamina Clean, which can be accessed by both internal
internal maupun eksternal Perseroan yaitu: and external parties, namely:
135 ext.8 pertaminaclean@tipoffs.
(021) 2350 7051 com.sg
Text & WhatsApp
Fax: (021) 381 5912
0811 1067 9111
Mekanisme
Pelaporan
http://pertaminaclean. Reporting Attn: Tip-offs Anonymous
tipoffs.info/ Mechanism Pertamina Clean
P.O.Box 2600
JKP 10026
PT Pertamina Geothermal Energy Tbk
Page 434
432 Laporan Tahunan 2025 | 2025 Annual Report
PELANGGARAN YANG DAPAT REPORTABLE VIOLATIONS
DILAPORKAN
Jenis tindakan atau kejadian yang dapat dilaporkan kepada The types of actions or events that can be reported to the Company
Perseroan melalui WBS adalah: via the WBS are:
1. Korupsi, konflik kepentingan, penyuapan, gratifikasi dan 1. Corruption, conflict of interest, bribery, gratuities and
pemerasan. extortion.
2. Pencurian, Penggelapan dan penyalahgunaan aset. 2. Theft, embezzlement, and misuse of assets.
3. Kecurangan dalam laporan keuangan. 3. Fraud in financial reporting.
4. Pelanggaran hukum dan peraturan perusahaan. 4. Violations of laws and company regulations.
5. Pelecehan (fisik, verbal, non verbal/gesture, visual dan 5. Harassment (physical, verbal, non-verbal/gestural, visual,
emosional). and emotional).
Pengaduan lain terkait pelayanan produk, penipuan undian, Other complaints related to product services, lottery fraud, and
dan rekrutmen dapat disampaikan melalui Pertamina Contact recruitment can be submitted through the Pertamina Contact
Center 135. Center 135.
PERLINDUNGAN PELAPOR WHISTLEBLOWER PROTECTION
Perseroan menjamin perlindungan bagi pelapor yang melaporkan The Company guarantees protection for whistleblowers who
pelanggaran, dengan mengedepankan prinsip tata kelola, report violations, prioritizing the principles of governance,
asas praduga tidak bersalah, serta profesionalisme. Kebijakan presumption of innocence, and professionalism. The protection
perlindungan tersebut mencakup aspek: policy covers the following aspects:
• Identitas pelapor yang dijamin kerahasiaannya. • Guaranteed confidentiality of whistleblower identity.
• Perlindungan dari segala bentuk ancaman, intimidasi, atau • Protection from all forms of threats, intimidation, or unpleasant
tindakan tidak menyenangkan dari pihak manapun yang actions from any party that may be perceived as retaliation
dapat dianggap sebagai tindakan balasan atas pelaporan for the report made by the whistleblower, so long as the
yang telah dibuat oleh pelapor, sepanjang pelapor menjaga whistleblower maintains the confidentiality of the case to any
kerahasiaan kasus yang diadukannya kepada pihak party.
manapun.
• Perlindungan terhadap pelapor dari segala bentuk hukuman • Protection of the whistleblower from all forms of punishment or
atau sanksi dari pihak manapun yang dapat dianggap sanction from any party that may be perceived as retaliation
sebagai tindakan balasan atas pelaporan yang telah dibuat for the report made by the whistleblower, so long as the
oleh pelapor, sepanjang pelapor tidak terbukti turut terlibat whistleblower is not proven to be involved in the reported
dalam perbuatan yang menyimpang/melanggar yang misconduct/ violation.
diadukan tersebut.
• Pertimbangan memberi keringanan hukuman atau sanksi • Consideration of granting leniency in punishments or
bagi pelapor yang turut terlibat dalam masalah yang sanctions for whistleblowers who are also involved in the
diadukan, namun bersikap kooperatif dan membantu secara matter being complained about but demonstrate cooperation
signifikan proses investigasi dengan memberikan data, and significantly assist the investigation process by providing
informasi, dokumen, dan bukti-bukti lainnya yang relevan data, information, documents, and other evidence relevant to
dengan masalah yang diadukan. the issue being reported.
Perlindungan berlaku juga bagi pekerja yang melaksanakan Protection of employees who conduct clarification or investigations
klarifikasi atau investigasi maupun pihak-pihak yang memberikan as well as parties providing information related to complaints or
informasi terkait dengan pengaduan atau penyingkapan. disclosures.
PENGELOLA LAPORAN REPORT MANAGER
Seluruh aktivitas penerimaan pengaduan, analisis awal, All activities of receiving complaints, initial analysis, referral of
pelimpahan pengaduan, penanganan pengaduan, dan complaints, handling of complaints, and compiling a summary
pembuatan resume hasil penanganan dilakukan secara terpusat of the results of handling are centrally coordinated by the IWF
oleh Fungsi IWF PT Pertamina (Persero) bekerja sama dengan Function of PT Pertamina (Persero) together with an independent
konsultan independen yang ditunjuk oleh PT Pertamina (Persero). consultant appointed by PT Pertamina (Persero).
PT Pertamina Geothermal Energy Tbk
Page 435
Laporan Tahunan 2025 | 2025 Annual Report 433
SOSIALISASI WHISTLEBLOWING SYSTEM WHISTLEBLOWING SYSTEM
SOCIALIZATION
Komunikasi terkait Whistleblowing System (WBS) Perseroan Communications regarding the Company’s Whistleblowing
disebarluaskan melalui berbagai saluran sosialisasi dan System (WBS) are disseminated through various outreach and
kampanye seperti media, banner, portal Perseroan, broadcast campaign channels, such as media, banners, the Company’s
e-mail setiap bulan, serta sosialisasi langsung melalui seminar portal, monthly email broadcasts, and direct outreach through
dan pelatihan. seminars and training.
Perseroan juga menyediakan informasi mengenai WBS dalam The Company also provides information about the WBS on the
situs web PGE. Mitra kerja Perseroan juga dapat mengakses PGE website. The Company’s business partners can also access
informasi terkait sistem pelaporan pelanggaran ini melalui information regarding this whistleblowing system through the
kegiatan Vendor Day yang diadakan oleh Perseroan atau melalui Company’s Vendor Day events or through the Company’s official
situs resmi Perseroan yang terhubung langsung dengan WBS. website, which is directly linked to the WBS.
Pada 2025, PGE telah melakukan kegiatan sosialisasi perihal In 2025, PGE conducted 14 outreach activities regarding fraud
fraud awareness dan WBS sebanyak 14 kegiatan baik secara awareness and the WBS, both offline and online. The details of
offline maupun online dengan rincian kegiatan sebagai berikut: these activities are as follows:
Kegiatan Periode Penyelenggara Peserta
Activity Period Organizer Participants
Sosialisasi Anti Fraud melalui kanal broadcast 31 Januari 2025 Fungsi Internal Audit PGE Seluruh Pekerja PGE
email Perseroan 31 January 2025 PGE Internal Audit Function All PGE Workers
Anti-Fraud Socialization via the Company’s
broadcast email channel
Sosialisasi Anti Fraud melalui kanal broadcast 28 Februari 2025 Fungsi Internal Audit PGE Seluruh Pekerja PGE
email Perseroan 28 February 2025 PGE Internal Audit Function All PGE Workers
Anti-Fraud Socialization via the Company’s
broadcast email channel
Sosialisasi Larangan Permintaan, Pemberian, dan 24 Maret 2025 Fungsi Internal Audit berkolaborasi Seluruh Pekerja PGE
Penerimaan Hadiah/Gratifikasi 24 March 2025 dengan Fungsi Compliance PGE All PGE Workers
Socialization of the Prohibition on Requesting, The Internal Audit function collaborates
Giving, and Accepting Gifts/Gratuities with the PGE Compliance Function
Fraud Prevention & WBS Socialization PGE Area 7 Mei 2025 Fungsi Internal Audit PGE Seluruh Pekerja PGE Area
Kamojang 7 May 2025 PGE Internal Audit Function Kamojang
Fraud Prevention & WBS Socialization PGE All PGE Workers in the
Kamojang Area Kamojang Area
Fraud Prevention & WBS Socialization PGE Area 9 Mei 2025 Fungsi Internal Audit PGE Seluruh Pekerja PGE Area
Karaha 9 May 2025 PGE Internal Audit Function Karaha
Fraud Prevention & WBS Socialization PGE All PGE Workers in the Karaha
Karaha Area Area
Fraud Prevention & WBS Socialization PGE Area 28 Mei 2025 Fungsi Internal Audit PGE Seluruh Perwira PGE Area
Lumut Balai 28 May 2025 PGE Internal Audit Function Lumut Balai
Fraud Prevention & WBS Socialization PGE Lumut All PGE Officers in the Lumut
Balai Area Balai Area
Sosialisasi Anti Fraud melalui kanal broadcast 11 Juni 2025 Fungsi Internal Audit PGE Seluruh Pekerja PGE
email PGE 11 June 2025 PGE Internal Audit Function All PGE Workers
Anti-Fraud Socialization via PGE’s email
broadcast channel
Sosialisasi Anti Fraud melalui kanal broadcast 7 Juli 2025 Fungsi Internal Audit PGE Seluruh Pekerja PGE
email PGE 7 July 2025 PGE Internal Audit Function All PGE Workers
Anti-Fraud Socialization via PGE’s email
broadcast channel
Sosialisasi Anti Fraud melalui kanal broadcast 6 Agustus 2025 Fungsi Internal Audit PGE Seluruh Pekerja PGE
email PGE 6 August 2025 PGE Internal Audit Function All PGE Workers
Anti-Fraud Socialization via PGE’s email
broadcast channel
Sosialisasi Anti Fraud melalui kanal broadcast 9 September 2025 Fungsi Internal Audit PGE Seluruh Pekerja PGE
email PGE PGE Internal Audit Function All PGE Workers
Anti-Fraud Socialization via PGE’s email
broadcast channel
Sosialisasi Anti Fraud melalui kanal broadcast 7 Oktober 2025 Fungsi Internal Audit PGE Seluruh Pekerja PGE
email PGE 7 October 2025 PGE Internal Audit Function All PGE Workers
Anti-Fraud Socialization via PGE’s email
broadcast channel
PT Pertamina Geothermal Energy Tbk
Page 436
434 Laporan Tahunan 2025 | 2025 Annual Report
Kegiatan Periode Penyelenggara Peserta
Activity Period Organizer Participants
Sosialisasi Anti Fraud melalui kanal broadcast 7 November 2025 Fungsi Internal Audit PGE Seluruh Pekerja PGE
email PGE PGE Internal Audit Function All PGE Workers
Anti-Fraud Socialization via PGE’s email
broadcast channel
Sosialisasi Sistem Manajemen Anti Penyuapan 8 Desember 2025 Fungsi Internal Audit berkolaborasi Seluruh Pekerja PGE Area
(SMAP) dalam acara Vendor Day 2025 Ulubelu 8 December 2025 dengan Fungsi Compliance dan Area Ulubelu dan Lumut Balai serta
X Lumut Balai Ulubelu serta Lumut Balai PGE Kontraktor
Socialization of the Anti-Bribery Management The Internal Audit Function collaborates All PGE Workers in the Ulubelu
System (SMAP) at the 2025 Ulubelu X Lumut Balai with the Compliance Function and the and Lumut Balai Areas and
Vendor Day event Ulubelu and Lumut Balai PGE Areas Contractors
Sosialisasi Anti Fraud melalui kanal broadcast 9 Desember 2025 Fungsi Internal Audit PGE Seluruh Pekerja PGE
email PGE 9 December 2025 PGE Internal Audit Function All PGE Workers
Anti-Fraud Socialization via PGE’s email
broadcast channel
JUMLAH PENGADUAN DAN TINDAK NUMBER OF COMPLAINTS AND FOLLOW-
LANJUT UP
Seluruh pengaduan dikelola secara terpusat oleh Fungsi IWF All complaints are centrally handled by IWF Function of PT
PT Pertamina (Persero) bekerja sama dengan konsultan Pertamina (Persero) in cooperation with an independent consultant
independen yang ditunjuk oleh PT Pertamina (Persero). Fungsi appointed by PT Pertamina (Persero). The IWF Function may also
IWF juga dapat melimpahkan proses investigasi kepada pihak delegate the investigation process to PGE when necessary.
PGE apabila diperlukan.
Total pengaduan WBS dengan kategori fraud dan irregularities The total number of WBS complaints categorized as fraud and
yang diterima oleh PGE dan dikelola oleh Fungsi Investigation IA irregularities received by PGE and managed by the Investigation
& WBS PT Pertamina (Persero) sampai dengan periode Desember IA & WBS Function of PT Pertamina (Persero) up to December
2025 adalah sebanyak 10 (sepuluh) pengaduan. 2025 amounted to 10 (ten) complaints.
Dari 10 (sepuluh) pengaduan tersebut, 4 (empat) pengaduan Of these 10 (ten) complaints, 4 (four) complaints have been
telah dinyatakan closed, sementara 6 (enam) pengaduan masih declared closed, while 6 (six) complaints remain open and are
berstatus open dan dalam analisis serta penanganan Fungsi IWF, currently under analysis and handling by the IWF Function, with
dengan rincian sebagai berikut: the details as follows:
Status Tindak Lanjut Pengaduan WBS
WBS Complaint Follow-up Status
Closed Open Total
Selesai Tindak Lanjut Analisis Awal Penanganan Resume Penanganan
TOTAL
Finished of Further Action Initial Analysis Handling Handling Resume
4 3 3 - 10
PT Pertamina Geothermal Energy Tbk
Page 437
Laporan Tahunan 2025 | 2025 Annual Report 435
Kebijakan Anti Penyuapan
dan Korupsi
Anti-Bribery and Corruption Policy
Perseroan sebagai bagian dari Badan Usaha Milik Negara As a State-Owned Enterprise, the Company is committed to
memiliki komitmen untuk menjalankan kegiatan usaha sesuai conducting its business activities in accordance with ethical
dengan praktik bisnis yang etis berdasarkan peraturan dan business practices, as stipulated in laws and regulations.
perundang-undangan.
Guna mendukung komitmen tersebut, Perseroan memiliki To support this commitment, the Company has policies and
kebijakan dan pedoman terkait Anti Korupsi dan Gratifikasi guidelines related to Anti-Corruption and Gratification, which are
yang diatur dalam dokumen Kode Etik, Traktat Kebijakan Anti stipulated in the Code of Ethics, the Anti-Corruption Policy Treaty,
Korupsi, dan Pedoman Pengendalian Gratifikasi. Perseroan juga and the Gratification Control Guidelines. The Company has also
telah menerapkan Sistem Manajemen Anti Penyuapan (SMAP) implemented an Anti-Bribery Management System (ABMS) based
berdasarkan ISO 37001:2016 yang terintegrasi dengan on ISO 37001:2016, integrated with the Geothermal Integrated
Geothermal Integrated Management System (GIMS) sejak tahun Management System (GIMS) since 2020.
2020.
Jumlah wilayah operasional PGE yang telah mendapatkan The number of PGE operational areas that have received ISO
sertifikasi ISO 37001:2016 sebagai berikut: 37001:2016 certification is as follows:
1. Kantor Pusat 1. Head Office
2. Area Lumut Balai 2. Lumut Balai Area
3. Area Kamojang 3. Kamojang Area
4. Area Lahendong 4. Lahendong Area
5. Area Karaha 5. Karaha Area
6. Area Ulubelu 6. Ulubelu Area
Program Anti Penyuapan dan Korupsi Anti-Bribery and Corruption Program
Prinsip 4 NO’s merupakan bagian dari program Anti Penyuapan The 4 NOs principles are part of the Anti-Bribery and Corruption
dan Korupsi untuk memastikan bahwa penerapan Sistem program to ensure that the implementation of the Anti-Bribery
Manajemen Anti Penyuapan (SMAP) tersebut terinternalisasi di Management System (ABMS) is internalized across all elements
seluruh elemen dan personel organisasi. and personnel of the organization.
PT Pertamina Geothermal Energy Tbk
Page 438
436 Laporan Tahunan 2025 | 2025 Annual Report
Prinsip 4 NO’s sebagai berikut: The 4 NOs principles are as follows:
Luxurious
Bribery Hospitality
Hindari/menolak segala Hindari/menolak
bentuk suap menyuap dan penyambutan dan
pemerasan jamuan yang berlebihan
Avoid/reject all forms of Avoid/refuse excessive
bribery and extortion. welcome and luxurious
hospitality
NO
Hindari/menolak meminta Hindari/menolak penerimaan/
komisi, tanda terima kasih baik pemberian hadiah atau gratifikasi
dalam bentuk uang dan dalam yang bertentangan dengan
bentuk lainnya peraturan dan ketentuan yang
berlaku
Avoid/refuse to ask for
commission, gratitude in the Avoid/reject the acceptance/
form of money and other forms giving of gifts or gratuities that
are contrary to applicable
rules and regulations
Kickback Gift
Pekerja PGE maupun mitra kerja atau pihak eksternal lainnya PGE Employees and work partners or other external parties can
dapat berperan aktif dalam mencegah tindak penyuapan maupun play an active role in preventing acts of bribery and corruption
korupsi dengan melaporkan dugaan yang terjadi di lingkungan by reporting allegations that occur within the Company and/or
Perseroan dan/atau dilakukan oleh personel Perseroan melalui to the Company personnel through the WBS reporting channel
saluran pelaporan WBS yang dikelola secara tersentralisasi oleh that is centrally managed by the Internal Audit Function of PT
fungsi Internal Audit PT Pertamina (Persero). Pertamina (Persero).
Perseroan mewajibkan seluruh pekerja untuk memberikan The Company requires all employees to submit a commitment
pernyataan komitmen dan pelaporan secara berkala melalui statement and regular reporting through the Company’s GCG
Portal GCG Perseroan yaitu: Portal, including:
• Pernyataan bahwa telah memahami dan mematuhi Kode Etik • A statement that they understand and comply with the Code
setiap 1 (satu) kali setahun. of Ethics once a year.
• Pernyataan tidak adanya benturan kepentingan setiap 1 • A statement that there is no conflict of interest once a year.
(satu) kali setahun.
• Pelaporan penerimaan atau penolakan gratifikasi setiap • Monthly reporting of the acceptance or rejection of gratuities.
bulan.
PT Pertamina Geothermal Energy Tbk
Page 439
Laporan Tahunan 2025 | 2025 Annual Report 437
Kebijakan Gratifikasi
Gratuity Policy
Perseroan menetapkan pedoman terkait pengendalian gratifikasi The Company has established guidelines related to gratification
untuk mendukung penerapan, penegakan, dan kepatuhan control to support the implementation, enforcement, and
terhadap pelaporan gratifikasi yaitu Pedoman Gratifikasi, compliance with gratification reporting, namely the Guidelines
Penolakan, Penerimaan, Pemberian Hadiah/Cinderamata dan/ for Gratification, Rejection, Acceptance, Giving Gifts/Souvenirs
atau Hiburan (Entertainment) No. A-015/PGE000/2018-S9. and/or Entertainment No. A-015/PGE000/2018-S9. These
Pedoman tersebut telah diperbarui menjadi Pedoman guidelines have been updated to the Gratification Control
Pengendalian Gratifikasi No. A-002/PGE000/2022-S9. Guidelines No. A-002/PGE000/2022-S9.
Pedoman gratifikasi tersebut telah dimuat di dalam situs web The gratuity guidelines have been posted on the Company’s
Perseroan dengan link sebagai berikut: https://www.pge. website at the following link: https://www.pge.pertamina.
pertamina.com/Media/Uploads/keberlanjutan/file/Anti%20 com/Media/Uploads/keberlanjutan/file/Anti%20bribery%20
bribery%20Campaign%20-%202023.pdf. Campaign%20-%202023.pdf.
Pengelolaan Gratifikasi Gratuity Management
Dalam mendukung penerapan Pedoman Pengendalian To support the implementation of the Gratification Control
Gratifikasi, Perseroan telah membentuk Tim Unit Pengendalian Guidelines, the Company has established a Gratification Control
Gratifikasi (UPG) melalui surat perintah Direktur Utama Unit (UPG) Team through the President Director’s Instruction
No. Prin-02/PGE000/2026-S0. Tim ini bertanggung jawab Letter No. Prin-02/PGE000/2026-S0. This team is responsible
terhadap pengelolaan gratifikasi di Perseroan. Adapun Tim Unit for managing gratification control within the Company. The
Pengendalian Gratifikasi Perseroan terdiri dari: composition of the Company’s Gratification Control Unit (UPG)
Team is as follows:
Ketua | Chairperson Chief Audit Executive
Sekretaris l | Secretary I Manager Legal & Compliance
Sekertaris ll | Secretary II Manager Internal Audit Finance & Business Support
1. Senior Officer I Compliance
Anggota | Members 2. Auditor II Finance & Business Support
3. Auditor I Finance & Business Support
Sosialisasi Kebijakan Gratifikasi Gratuity Policy Dissemination
Sosialisasi kebijakan gratifikasi kepada seluruh pekerja Socialization of the gratification policy to all Company
Perseroan dilakukan secara berkala baik offline maupun online employees is carried out periodically both offline and online,
yang merupakan bagian dari materi sosialisasi Kode Etik which is part of the socialization material for the Code of Ethics
dan Whistleblowing System yang dapat dilihat pada bagian and Whistleblowing System which can be seen in the section
Sosialisasi Whistleblowing System dalam laporan ini. Whistleblowing System Socialization in this report.
Laporan Gratifikasi Tahun 2025 2025 Gratuity Report
Seluruh pekerja PGE wajib melaporkan penerimaan atau All PGE employees are required to report the receipt or rejection
penolakan gratifikasi melalui portal GCG PGE. Selama tahun of gratuities through the PGE GCG portal. Throughout 2025,
2025, tidak terdapat laporan penerimaan dan/atau penolakan there were no reports of the receipt and/or rejection of gratuities
gratifikasi di lingkungan Perseroan. within the Company.
PT Pertamina Geothermal Energy Tbk
Page 440
438 Laporan Tahunan 2025 | 2025 Annual Report Laporan Harta Kekayaan Penyelenggara Negara (LHKPN) State Official Wealth Report (LHKPN) PT Pertamina (Persero) selaku perusahaan induk atau holding PT Pertamina (Persero), as the parent company or holding PGE mewajibkan seluruh entitas Pertamina Grup untuk memenuhi company of PGE, requires all Pertamina Group entities to comply kepatuhan Laporan Harta Kekayaan Penyelenggaraan Negara with the State Officials’ Wealth Report (LHKPN) as stipulated in (LHKPN) sebagaimana diatur pada Pedoman Kewajiban the LHKPN Submission Obligation Guidelines No. A-13-001/ Penyampaian LHKPN No. A-13- 001/N00200/2021-S9. N00200/2021-S9. This policy applies to all Pertamina Group Kebijakan ini berlaku bagi seluruh entitas Pertamina Grup. entities. PGE sebagai bagian dari entitas Pertamina Grup melalui Akta PGE, as part of the Pertamina Group, through Deed No. 50 dated No. 50 tanggal 25 Februari 2022, mewajibkan pelaporan 25 February 2022, requires LHKPN reporting for all assistant LHKPN kepada seluruh level asisten manajer/setara sampai managers/equivalents up to the Board of Directors and Board of dengan Direksi dan Dewan Komisaris. Pada tahun 2025, Commissioners. By 2025, there were 216 individuals required to terdapat 216 orang wajib lapor LHKPN dari seluruh unit kerja file LHKPN reports across all Company work units, with a 100% Perseroan dengan tingkat kepatuhan sebesar 100%. compliance rate. PT Pertamina Geothermal Energy Tbk
Page 441
Laporan Tahunan 2025 | 2025 Annual Report 439
Perdagangan Orang Dalam
Insider Trading
Insider Trading merupakan perdagangan saham yang dilakukan Insider trading is the trading of shares by company insiders who
oleh orang dalam perusahaan yang memiliki akses layanan have access to non-public information. This is illegal.
informasi non-publik, hal ini merupakan tindakan ilegal.
Perseroan memiliki kebijakan larangan insider trading yang The Company has a policy prohibiting insider trading that regulates
mengatur transaksi saham Perseroan yang dilakukan oleh pekerja transactions in the Company’s shares by Company employees
Perseroan dan setiap pihak tertentu yang memiliki informasi and any other parties possessing material and confidential
material dan informasi rahasia yang belum menjadi informasi information that has not yet become public knowledge (insider
publik (informasi orang dalam/ insider information). Kebijakan information). This insider trading policy applies throughout the
insider trading berlaku di seluruh lingkungan Perseroan, termasuk Company, including its affiliates.
afiliasi Perseroan.
Kebijakan insider trading PGE dipublikasikan dalam situs web PGE’s insider trading policy is published on the Company’s
Perseroan: https://www.pge.pertamina.com/Media/Uploads/ website: https://www.pge.pertamina.com/Media/Uploads/
keberlanjutan/file/Kebijakan%20Insider%20Trading%20PGEO- keberlanjutan/file/Kebijakan%20Insider%20Trading%20PGEO-
2.pdf. 2.pdf.
PT Pertamina Geothermal Energy Tbk
Page 442
440 Laporan Tahunan 2025 | 2025 Annual Report
Kebijakan Pemberian
Kompensasi Jangka
Panjang
Policy for Providing Long-Term Compensation
Program MESOP MESOP Program
Perseroan menerapkan kebijakan pemberian kompensasi jangka The Company adopts a policy of providing long-term
panjang melalui program Opsi Pembelian Saham kepada compensation through the Management and Employee Stock
Manajemen dan Pekerja atau Management and Employee Stock Option Plan (MESOP).
Option Plan (MESOP).
Jumlah Saham dan Hak Opsi Program Total of Shares and Option Rights of
MESOP MESOP Program
Sesuai dengan Keputusan Pemegang Saham secara Sirkuler Based on the Circular Resolution of Shareholders dated 27
tanggal 27 Januari 2022 sebagaimana tertuang dalam Akta January 2022 as outlined in Deed No. 12/2022, the Company
No. 12/2022, Perseroan mengalokasikan sebanyak-banyaknya shall allocate a maximum of 1.50% (one point five zero percent)
sebesar 1,50% (satu koma lima nol persen) dari modal of the Company’s issued and fully paid-up capital after the
ditempatkan dan disetor penuh Perseroan setelah Penawaran Initial Public Offering (IPO) or a maximum of 630,398,000 (six
Umum Saham Perdana atau Initial Public Offering (IPO) atau hundred thirty million three hundred ninety-eight thousand) shares
sebanyak-banyaknya 630.398.000 (enam ratus tiga puluh juta for the MESOP program.
tiga ratus sembilan puluh delapan ribu) saham untuk program
MESOP.
Hak opsi dalam program MESOP dapat digunakan oleh The option rights in the MESOP program may be exercised by the
manajemen dan pekerja Perseroan dan Entitas Anak untuk management and employees of the Company and its Subsidiaries
membeli saham baru Perseroan, dengan periode pelaksanaan to purchase new shares of the Company. The maximum open
yang dibuka maksimal 2 (dua) kali dalam satu tahun dengan exercise period is 2 (two) times in one year, with 30 (thirty)
jangka waktu 30 (tiga puluh) hari bursa setiap periode trading days for each exercise period. All MESOP options have
pelaksanaan. Seluruh hak opsi program MESOP memiliki masa a validity period of until 26 January 2027.
berlaku sampai dengan 26 Januari 2027.
Tahapan Pendistribusian Hak Opsi Option Right Distribution Stages
Pendistribusian hak opsi dilakukan dalam empat tahapan, yaitu: The distribution of option rights is conducted in four stages,
namely:
Tahap I : Maksimal 40% (empat puluh persen) dari jumlah hak Stage I: A maximum of 40% (forty percent) of the number of
opsi yang dapat diterbitkan dalam program MESOP diterbitkan option rights that may be issued under the MESOP program will
dan dialokasikan paling lambat empat bulan terhitung sejak be issued and allocated no later than four months as of the listing
tanggal pencatatan saham Perseroan di BEI. date of the Company’s shares on the IDX.
PT Pertamina Geothermal Energy Tbk
Page 443
Laporan Tahunan 2025 | 2025 Annual Report 441
Tahap II : Maksimal 40% (empat puluh persen) dari jumlah hak Stage II: A maximum of 40% (forty percent) of the number of
opsi yang dapat diterbitkan dalam program MESOP, dimana options rights that may be issued under the MESOP program,
jumlah tersebut ditentukan dengan mempertimbangkan kinerja in an amount to be determined by considering the performance
Perseroan dan mendapatkan persetujuan Dewan Komisaris, of the Company and obtaining the approval of the Board
diterbitkan dan dialokasikan pada Ulang Tahun Pertama Tanggal of Commissioners, shall be issued and allocated on the First
Pencatatan Saham Perseroan di BEI. Anniversary of the Company’s Listing Date on the IDX.
Tahap III : Sisa dari jumlah hak opsi yang dapat diterbitkan Stage III : The remaining number of option rights that may be
dalam program MESOP setelah dikurangi dengan alokasi Tahap issued under the MESOP program after deducting the Stage II
II, dengan jumlah yang akan ditentukan kemudian dengan allocation, in an amount to be determined later by considering
mempertimbangkan kinerja Perseroan dan mendapatkan the performance of the Company and obtaining the approval of
persetujuan Dewan Komisaris, akan diterbitkan dan dialokasikan the Board of Commissioners, shall be issued and allocated on the
pada Ulang Tahun Kedua Tanggal Pencatatan Saham Perseroan Second Anniversary of the Company’s Listing Date on the IDX.
di BEI.
Tahap IV : Sisa dari jumlah hak opsi yang dapat diterbitkan Stage IV: The remaining number of option rights that may be
dalam program MESOP setelah dikurangi dengan alokasi Tahap issued under the MESOP program after deducting the Stage III
III, dengan jumlah yang akan ditentukan kemudian dengan allocation, in an amount to be determined later by considering
mempertimbangkan kinerja Perseroan dan mendapatkan the performance of the Company and obtaining the approval of
persetujuan Dewan Komisaris, akan diterbitkan dan dialokasikan the Board of Commissioners, shall be issued and allocated on
pada Ulang Tahun Ketiga Tanggal Pencatatan Saham Perseroan the Third Anniversary of the Company’s Listing Date on the IDX.
di BEI.
Peserta Program MESOP Participants of MESOP Program
Peserta program MESOP adalah Direksi, Dewan Komisaris Participants of the MESOP program are the Board of Directors, the
(kecuali Komisaris Independen), dan Pekerja tetap dan tidak Board of Commissioners (excluding Independent Commissioners),
tetap Perseroan yang aktif bekerja dan memenuhi ketentuan and permanent and nonpermanent employees of the Company
pada saat Program MESOP ditawarkan. who are actively employed and meet the requirements when the
MESOP Program is offered.
Tidak ada ketentuan yang mengatur mengenai penghentian lebih There are no provisions on early termination or extension of the
awal atau perpanjangan Program MESOP kecuali ketentuan MESOP Program except for the above mentioned. Participants of
sebagaimana disebutkan di atas. Peserta Program MESOP akan the MESOP Program will be determined by the Company’s Board
ditetapkan oleh Direksi Perseroan paling lambat 14 (empat belas) of Directors no later than 14 (fourteen) calendar days before the
hari kalender sebelum diterbitkannya hak opsi untuk setiap tahap issuance of option rights for each Stage I, Stage II, Stage III, and
I, tahap II, tahap III, dan tahap IV. Stage IV.
Masa Tunggu dan Periode Pelaksanaan Vesting Period and Exercise Period
Peserta yang akan menggunakan hak opsi untuk membeli Participants who exercise their option rights to purchase shares
saham, wajib membayar secara penuh harga pelaksanaan dan shall fully pay the exercise price and taxes incurred upon exercising
pajak-pajak yang timbul dalam rangka pelaksanaan hak opsi the choice right. Costs associated with the implementation of the
tersebut. Biaya pelaksanaan dari Program MESOP selain yang MESOP program other than those stated above will be borne
disebutkan di atas akan ditanggung oleh Perseroan dengan kas by the Company using its own cash, and the Company will not
internal Perseroan dan Perseroan tidak akan membebankan charge such costs to the costs related to the implementation of the
biaya tersebut ke dalam biaya-biaya terkait dengan pelaksanaan Initial Public Offering.
Penawaran Umum Perdana Saham.
Hak opsi yang dibagikan akan terkena masa tunggu pelaksanaan The distributed option rights will be subject to a vesting period,
(vesting period) di mana peserta Program MESOP belum dapat during which MESOP Program participants cannot yet exercise
menggunakan hak opsinya untuk membeli saham baru Perseroan. their option rights to purchase new shares of the Company. The
Vesting period tahap pertama adalah sampai dengan penerbitan vesting period for the first stage is valid until the issuance of the
tahap kedua, sedangkan vesting period untuk tahap berikutnya second stage, while the vesting period for subsequent stages is
adalah enam bulan sejak diterbitkan atau tanggal pelaksanaan six months as of the date of issuance or the first exercise date
pertama sejak diterbitkan. following the issuance.
PT Pertamina Geothermal Energy Tbk
Page 444
442 Laporan Tahunan 2025 | 2025 Annual Report
Sehubungan dengan masa pelaksanaan hak opsi (exercise In regards to the exercise period of option rights, the Board of
period), Direksi Perseroan akan menentukan periode tertentu Directors will determine a specific period which will constitute the
yang akan merupakan jangka waktu pelaksanaan hak opsi exercise period (exercise window). The exercise window will be
(window exercise). Window exercise akan dibuka sebanyak- opened twice per year, maximum, with each exercise window
banyaknya dua kali dalam satu tahun dengan setiap window having a duration of 30 (thirty) Trading Days.
exercise memiliki jangka waktu 30 (tiga puluh) Hari Bursa.
Harga Pelaksanaan Program MESOP Exercise Price of MESOP Program
Harga pelaksanaan (exercise price) ditetapkan mengacu pada Exercise price will be determined based on the provisions stated
ketentuan yang tercantum dalam Peraturan Pencatatan. Prosedur in the Listing Regulations. The procedures and manual for the
dan tata cara Program MESOP ditetapkan oleh Direksi Perseroan MESOP program will be established by the Board of Directors,
dengan memperhatikan ketentuan dan peraturan perundang- by taking into account the applicable laws and regulations,
undangan yang berlaku, yakni sekurang-kurangnya 90% including provision on obtaining at least 90% (ninety percent) of
(sembilan puluh persen) dari rata-rata harga penutupan saham the average closing price of the Company’s shares over a period
Perseroan selama kurun waktu 25 (dua puluh lima) Hari Bursa of 25 (twenty-five) consecutive Trading Days on the Regular
berturut-turut di Pasar Reguler sebelum permohonan pencatatan Market before the listing application is submitted to the Indonesia
dilakukan ke BEI. Stock Exchange (IDX).
Tahapan Program MESOP Harga Pelaksanaan Referensi 25 Hari Bursa
MESOP Program Stages Exercise Price Reference to 25 Trading Days
Tahap l 24 Maret - 8 Mei 2023
Rp648
Stage I 24 March - 8 May 2023
Tahap ll 7 Desember 2023 - 15 Januari 2024
Rp1.087
Stage II 7 December 2023 - 15 January 2024
Tahap lll 11 Desember 2024 - 20 Januari 2025
Rp838
Stage III 11 December 2024 - 20 January 2025
PT Pertamina Geothermal Energy Tbk
Page 445
Laporan Tahunan 2025 | 2025 Annual Report 443
Perlindungan Hak Kreditur
Creditor Rights Protection
PGE berkomitmen untuk melindungi hak kreditur, antara lain hak PGE is committed to protecting creditor rights, including the right
untuk mendapatkan pembayaran pokok utang dan bunga secara to receive timely payment of principal and interest in amounts as
tepat waktu dengan jumlah sesuai yang ditentukan. Komitmen specified. The PGE Creditor Rights Protection commitment can on
Perlindungan Hak Kreditur PGE dapat dilihat dalam situs web the Company’s website:
Perseroan.
https://www.pge.pertamina.com/Media/Uploads/ https://www.pge.pertamina.com/Media/Uploads/
keberlanjutan/file/PERLINDUNGAN%20HAK%20 keberlanjutan/file/PERLINDUNGAN%20HAK%20
KREDITUR%20-%20PGE%20Bilingual.pdf KREDITUR%20%20PGE%20Bilingual.pdf.
PT Pertamina Geothermal Energy Tbk
Page 446
444 Laporan Tahunan 2025 | 2025 Annual Report
Pengadaan Barang dan Jasa
Goods and Services Procurement
Perseroan memiliki mekanisme pengadaan barang dan jasa yang The Company has a structured procurement mechanism
dijalankan secara terstruktur sesuai pedoman dan Tata Kelola for goods and services, implemented in accordance with
Organisasi (TKO) yang berlaku. Mekanisme pengadaan barang applicable guidelines and Organizational Governance (TKO).
dan jasa dimulai dari permintaan barang dan jasa dari fungsi The procurement process begins with a request for goods and
pengguna (user), yang dilengkapi dengan persyaratan dokumen- services from the user, accompanied by mandatory document
dokumen yang wajib dipenuhi serta dokumen pendukung seperti requirements and supporting documents such as the Terms of
Kerangka Acuan Kerja, Owner Estimate, kriteria- kriteria evaluasi Reference, Owner Estimate, evaluation criteria, and Purchase
serta Purchase Requisition melalui sistem Enterprise Resource Requisition, all through the Company’s Enterprise Resource
Planning (ERP) Perseroan. Planning (ERP) system.
Metode pengadaan di PGE dapat dilaksanakan melalui Procurement method in PGE is conducted through these following
beberapa cara, yaitu: ways:
1. Penunjukan Langsung 1. Direct Appointment
2. Pemilihan Langsung 2. Direct Selection
3. Pelelangan 3. Direct Purchase
4. Pembelian Langsung 4. Tender
Fungsi Pengadaan akan menyusun dokumen pengadaan seperti The Procurement Function will prepare procurement documents
Rencana Kerja dan Syarat (RKS), serta Memo Usul yang mengatur such as the Work Plan and Requirements (RKS) and the Proposal
mengenai persyaratan dokumen penawaran, metode evaluasi Memo, which outlines the bidding requirements, evaluation
serta pembuatan bidder list. Pemilihan penyedia barang dan methods, and the creation of a bidder list. The selection of goods
jasa dilaksanakan dengan mengacu kepada ketentuan Sistem and services providers is carried out in accordance with the Work
Tata Kerja (STK). Procedure System (STK) provisions.
Pemasok yang ditunjuk atau yang masuk ke dalam bidder The appointed suppliers or suppliers whose names are listed in
list harus memenuhi persyaratan yang ditentukan dan sudah the bidder list are required to meet the specified requirements and
terdaftar sebagai vendor PGE atau e-vendor Pertamina, kecuali are already registered as PGE vendors or Pertamina e-vendors,
untuk metode pengadaan tender terbuka. except for the open tender procurement method.
Proses dilanjutkan dengan penyampaian dokumen pengadaan The process continues with the vendor (third party) submitting
dan dokumen penawaran oleh vendor (pihak ketiga) kemudian procurement documents and bids, followed by evaluation
dilakukan evaluasi dan negosiasi sesuai prosedur pengadaan and negotiations in accordance with applicable procurement
yang berlaku. Berdasarkan hasil evaluasi dan negosiasi dibuat procedures. Based on the evaluation and negotiation results, a
laporan proses dan hasil pengadaan serta penunjukan pelaksana report on the procurement process and results, along with the
pekerjaan. Tahapan berikutnya dilanjutkan dengan pembuatan appointment of the project implementer, is prepared. The next
draft kontrak dan/atau pembuatan Purchase Order (PO). step is drafting a contract and/or creating a Purchase Order
(PO).
Dalam pelaksanaannya, proses pengadaan barang dan jasa In its implementation, the procurement process of goods and
dilaksanakan melalui koordinasi dengan fungsi- fungsi terkait services is conducted in coordination with related functions
seperti fungsi Legal, Finance, HSSE, Manajemen Risiko serta such as Legal, Finance, HSSE, Risk Management, and related
fungsi terkait yang diperlukan. functions as needed.
PT Pertamina Geothermal Energy Tbk
Page 447
Laporan Tahunan 2025 | 2025 Annual Report 445
Mengutamakan Pemasok Lokal Prioritizing Local Suppliers
PGE mengutamakan penggunaan produksi dalam negeri, PGE prioritizes the use of domestic production, national design
rancang bangun dan perekayasaan nasional, serta perluasan and engineering, and the expansion of opportunities for small
kesempatan bagi usaha kecil, terutama melalui sinergi Pertamina businesses, especially through Pertamina Incorporated synergy
Incorporated dan/atau sinergi BUMN, sepanjang kualitas, harga and/or SOE synergy, as long as the quality, price and purpose
dan tujuan dapat dipertanggungjawabkan. Pemasok dari luar can be accounted for. Overseas suppliers are used when domestic
negeri digunakan apabila pemasok dalam negeri tidak dapat suppliers cannot meet the Company’s needs.
memenuhi kebutuhan Perseroan.
Pada tahun 2025, jumlah pemasok barang dan jasa Perseroan In 2025, the number of suppliers of goods and services to the
tercatat sebanyak 280 pemasok dengan jumlah pemasok lokal Company was recorded at 280 suppliers with the number of
mencapai 257 pemasok atau 91,79% dari keseluruhan pemasok. local suppliers reaching 257 suppliers or 91.79% of all suppliers.
Pemasok Barang dan Jasa
2025 2024 2023
Goods and Services Suppliers
Pemasok Lokal
257 476 403
Local Suppliers
Pemasok Global
23 40 16
Global Suppliers
Total 280 513 443
Persentase Pemasok Lokal
91,79% 92,79% 90,97%
Percentage of Local Suppliers
Klasifikasi Pemasok PGE
2025 2024 2023
PGE Supplier Qualifications
Pemasok Barang
141 122 112
Goods Suppliers
Pemasok Jasa
139 391 331
Service Suppliers
Total 280 513 443
Green Procurement dan Social Green Procurement and Social
Procurement Procurement
Perseroan berkomitmen menjalankan proses pengadaan yang The Company is committed to running a more responsible
lebih bertanggung jawab dengan menerapkan kebijakan procurement process by implementing green procurement
pengadaan berwawasan lingkungan (green procurement), serta policies, as well as procurement policies that incorporate social
kebijakan pengadaan yang menerapkan aspek sosial dan tata and governance aspects (social procurement).
kelola (social procurement).
Setiap pemasok, kontraktor, dan mitra bisnis yang ingin bekerja Every supplier, contractor, and business partner wishing to
sama dengan harus memenuhi ketentuan green procurement dan collaborate with PGE must comply with green procurement
social procurement, seperti komitmen pelestarian lingkungan and social procurement requirements, such as commitments to
serta penerapan hak asasi manusia di seluruh rantai nilai (value environmental conservation and the implementation of human
chain) mereka. Perseroan juga akan menetapkan proses evaluasi rights throughout their value chain. The Company will also
penerapan green procurement dan social procurement melalui establish an evaluation process for the implementation of green
proses audit terhadap pemasok, kontraktor, dan mitra kerja, procurement and social procurement through audits of suppliers,
sebagai bagian dari monitoring kepatuhan terhadap kebijakan contractors, and partners, as part of monitoring compliance with
pengadaan tersebut. these procurement policies.
Penjelasan lebih lanjut terkait kebijakan green procurement Further details regarding PGE’s green procurement and social
dan social procurement PGE terdapat pada Bab Transformation procurement policies can be found in the Transformation Catalyst
Catalyst dalam Laporan Keberlanjutan PGE 2025. chapter of the PGE 2025 Sustainability Report.
PT Pertamina Geothermal Energy Tbk
Page 448
446 Laporan Tahunan 2025 | 2025 Annual Report Pembelian Kembali Saham dan Obligasi PGE Share and Bond Buybacks PGE Selama tahun 2025, PGE tidak melakukan pembelian kembali During 2025, PGE did not repurchase any shares shares and saham maupun obligasi yang diterbitkan PGE . bonds issued by PGE. Penyediaan Dana untuk Kegiatan Politik Funding for Political Activities Selama tahun 2025, Perseroan tidak melakukan pemberian During 2025, the Company did not provide funds to parties for dana kepada pihak-pihak untuk kegiatan politik. political activities. PT Pertamina Geothermal Energy Tbk
Page 449
Laporan Tahunan 2025 | 2025 Annual Report 447
Akses Informasi dan
Data Perseroan
Access to the Company’s Information and Data
PGE menyediakan akses informasi kepada seluruh pemangku PGE provides access to information to all stakeholders through
kepentingan melalui berbagai media komunikasi. various communication media.
Saluran Informasi Keterangan
Information Channel Description
Sekretaris Perusahaan Grha Pertamina - Tower Pertamax Lt. 7 Jl. Medan Merdeka Timur
Corporate Secretary No. 11-13 Gambir, Jakarta Pusat 10110
Telephone : (021) 3983 3222
Fax : (021) 3983 3230
Email commpge@Pertamina.com
Website www.pge.pertamina.com
Contact Center 135
Media Sosial Instagram: @pge.pertamina
Social Media Facebook Fan Page: pge.pertamina
Facebook: Pertamina Geothermal Energy
YouTube: pge.pertamina
Linkedin: PT Pertamina Geothermal Energy Tbk
Transparansi Penyampaian Laporan Transparency in Submission of Reports
Perseroan sebagai perusahaan terbuka telah melaksanakan The Company as a public company has implemented transparency
aspek transparansi antara lain pemenuhan kewajiban pelaporan aspects, including fulfilling reporting obligations submitted
baik yang disampaikan kepada regulator maupun instansi terkait to regulators and related agencies, including the Company’s
termasuk holding dan subholding Perseroan. holding and subholdings.
Jenis Laporan Ditujukan Kepada
No
Report Type Addressed to
1 Laporan Tahunan dan Laporan Keberlanjutan Otoritas Jasa Keuangan (OJK), Bursa Efek Indonesia (BEI), PT Pertamina
Annual Report and Sustainability Report (Persero)
Financial Services Authority (FSA), the Indonesia Stock Exchange (IDX),
PT Pertamina (Persero)
2 Laporan Keuangan OJK, BEI, PT Pertamina (Persero)
Financial Report
3 Laporan Bulanan OJK, BEI, PT Pertamina (Persero)
Monthly Report FSA, IDX, PT Pertamina (Persero)
4 RKAP dan Buku RKAP Revisi PT Pertamina (Persero)
RKAP and Revised RKAP Book PT Pertamina (Persero)
5 Laporan Top Risk dan Laporan Monitoring Risiko Proyek Prioritas Subholding Power & New and Renewable Energy (PNRE), PT Pertamina
Top Risk Report and Priority Project Risk Monitoring Report (Persero)
Subholding PNRE, PT Pertamina (Persero)
6 Laporan Monitoring Performance 4 Pilar Quality Management Subholding PNRE
Performance Monitoring Report for 4 Pillars of Quality
Management
7 Laporan Rencana Kerja dan Anggaran Biaya (RKAB) Direktorat Jenderal Energi Baru, Terbarukan dan Konversi Energi (EBTKE)
Work Plan and Cost Budget Report (RKAB) Kementerian Energi Sumber Daya Mineral (ESDM)
Directorate General of New and Renewable Energy and Energy
Conservation (EBTKE) Ministry of Energy and Mineral Resources
PT Pertamina Geothermal Energy Tbk
Page 450
448 Laporan Tahunan 2025 | 2025 Annual Report
Jenis Laporan Ditujukan Kepada
No
Report Type Addressed to
8 Laporan Kegiatan Penanaman Modal Badan Koordinasi Penanaman Modal (BKPM)
Investment Activity Report Indonesia Investment Coordinating Board
9 Laporan Pelaksanaan Rencana Pengelolaan Lingkungan (RKL) dan EBTKE Kementerian ESDM, Kementerian Lingkungan Hidup dan Kehutanan
Rencana Pemantauan Lingkungan (RPL) (KLHK), serta Dinas Lingkungan Hidup Terkait
Environmental Management Plan (RKL) and Environmental EBTKE Ministry of Energy and Mineral Resources, Ministry of the
Monitoring Plan (RPL) Implementation Report Environment and Forestry, Relevant Environmental Office
10 Laporan Neraca Limbah B3 EBTKE Kementerian ESDM, serta Kementerian Lingkungan Hidup dan
B3 Waste Balance Report Kehutanan
EBTKE Ministry of Energy and Mineral Resources, Ministry of the
Environment and Forestry
11 Pelaporan Beban Emisi EBTKE Kementerian ESDM, serta KLHK
Emission Load Reporting EBTKE Ministry of Energy and Mineral Resources, Ministry of the
Environment and Forestry
12 Laporan Berkala Pemegang Izin Pinjam Pakai Kawasan Hutan KLHK
Periodic Report on Borrow-to-Use Forest Area Permit Holders Ministry of the Environment and Forestry
PT Pertamina Geothermal Energy Tbk
Page 451
Laporan Tahunan 2025 | 2025 Annual Report 449
Evaluasi
Penerapan GCG
Evaluation of GCG Implementation
Area Of Improvement Area Of Improvement
Berdasarkan hasil GCG Assessment pada tahun 2024 terdapat Based on the results of the 2024 GCG Assessment, there are
rekomendasi perbaikan atau area of improvement di beberapa recommendations for improvements or areas of improvement in
aspek, antara lain: several aspects, including:
Rekomendasi hasil penilaian GCG tahun 2024 berdasarkan Rekomendasi hasil penilaian GCG tahun 2024 berdasarkan
parameter BUMN parameter BUMN
1. Aspek Pemegang Saham dan RUPS
Aspect of Shareholders and GMS
Rekomendasi
No.
Recommendation
1 RUPS agar dapat memberikan pengesahan/persetujuan atas rancangan Rencana Kerja dan Anggaran Perusahaan (RKAP) secara tepat
waktu, paling lambat pada saat dimulainya tahun buku yang bersangkutan, berdasarkan rancangan RKAP Tahunan Perseroan.
The GMS should provide ratification/approval of the draft Company Work Plan and Budget (RKAP) in a timely manner, no later than the
commencement of the relevant financial year, based on the Company’s draft Annual RKAP
2. Aspek Dewan Komisaris
Aspect of the Board of Commissioners
Rekomendasi
No.
Recommendation
1 Dewan Komisaris agar menyusun kebijakan mengenai pengawasan dan pemberian nasihat terhadap kebijakan pengelolaan anak
perusahaan/perusahaan patungan dan pelaksanaan kebijakan tersebut.
The Board of Commissioners formulates policies regarding supervision and provision of advice on subsidiary/joint venture management
policies and the implementation of such policies.
2 Dewan Komisaris agar melakukan telaah mengenai kebijakan pengelolaan anak perusahaan/perusahaan patungan dan
pelaksanaannya.
The Board of Commissioners reviews subsidiary/joint venture management policies and their implementation.
3 Dewan Komisaris agar melakukan evaluasi terhadap kebijakan pengelolaan anak perusahaan/ perusahaan patungan dan
pelaksanaannya.
The Board of Commissioners evaluates subsidiary/joint venture management policies and their implementation.
4 Dewan Komisaris agar melakukan penilaian terhadap proses pengangkatan Direksi dan Dewan Komisaris anak perusahaan/perusahaan
patungan, serta memberikan penetapan tertulis (setuju atau tidak setuju) terhadap proses pengangkatan Direksi dan Dewan Komisaris
anak perusahaan/perusahaan patungan.
The Board of Commissioners assesses the process of appointing the Board of Directors and Board of Commissioners of the subsidiary/
joint venture, and provides a written determination (consenting or dissenting) on the process of appointing the Board of Directors and
Board of Commissioners of the subsidiary/joint venture.
5 Dewan Komisaris agar menetapkan secara tertulis terhadap proses pengangkatan Direksi dan Dewan Komisaris anak perusahaan/
perusahaan patungan paling lambat 15 hari kalender terhitung sejak tanggal diterimanya calon Direksi dan Dewan Komisaris anak
perusahaan/perusahaan patungan.
The Board of Commissioners determines in writing the process of appointing the Board of Directors and Board of Commissioners of the
subsidiary/joint venture no later than 15 calendar days from the date of receipt of the candidate for the Board of Directors and Board of
Commissioners of the subsidiary/joint venture.
PT Pertamina Geothermal Energy Tbk
Page 452
450 Laporan Tahunan 2025 | 2025 Annual Report
Rekomendasi
No.
Recommendation
6 Dewan Komisaris agar menyusun kebijakan dan kriteria seleksi bagi calon Direksi dan pengusulan calon tersebut kepada Pemegang
Saham.
The Board of Commissioners formulates policies and selection criteria for candidates for the Board of Directors and proposes such
candidates to Shareholders.
7 Dewan Komisaris agar memberikan usulan calon-calon anggota Direksi yang baru kepada RUPS.
The Board of Commissioners provides proposals for new candidate members of the Board of Directors to the GMS.
8 Dewan Komisaris agar membuat Pakta Integritas yang dilampirkan dalam Usulan Tindakan Direksi yang harus mendapatkan rekomendasi
dari Dewan Komisaris dan persetujuan RUPS/Pemilik Modal.
The Board of Commissioners creates an Integrity Pact attached to the Proposed Board of Directors Action which must receive
recommendations from the Board of Commissioners and approval from the GMS/Capital Owners
3. Aspek Direksi
Aspect of the Board of Directors
Rekomendasi
No
Recommendation
1 Perusahaan agar membuat Rencana Kerja untuk kegiatan pelatihan bagi anggota Direksi.
The Company establishes a Work Plan for training activities for members of the Board of Directors.
2 Direksi agar menyampaikan rancangan RKAP kepada RUPS/Dewan Komisaris tepat waktu atau sesuai jadwal waktu ditentukan, yaitu
paling lambat 60 (enam puluh) hari sebelum mulainya tahun buku rancangan RKAP.
The Board of Directors submits the draft RKAP to the GMS/Board of Commissioners on time or according to the specified time schedule,
which is no later than 60 (sixty) days before the start of the draft RKAP financial year.
3 Standard Operating Procedure (SOP) dan Standar Pelayanan Minimal (SPM) agar diinformasikan secara terbuka.
The Standard Operating Procedure (SOP) and Minimum Service Standards (SPM) must be informed openly.
4 Perusahaan agar melakukan evaluasi pasca pendidikan, pelatihan, dan pengembangan pekerja perusahaan.
The Company conducts post-education, training, and employee development evaluations.
5 Direksi agar menetapkan kebijakan pengaturan untuk anak perusahaan (subsidiary governance) dan perusahaan patungan antara
lain mencakup: pengangkatan Dewan Komisaris dan Direksi, penetapan target kinerja dan penilaian kinerja serta insentif bagi Dewan
Komisaris dan Direksi.
The Board of Directors determines regulatory policies for subsidiaries (subsidiary governance) and joint ventures, including: appointment
of the Board of Commissioners and Board of Directors, determination of performance targets and performance assessments, and
incentives for the Board of Commissioners and Board of Directors.
6 Direksi agar menetapkan target kinerja dan realisasi kinerja anak perusahaan/perusahaan patungan.
The Board of Directors determines performance targets and performance realization for subsidiaries/joint ventures.
7 Direksi agar memperbarui kebijakan akuntansi dan penyusunan Laporan Keuangan yang secara best practice diperbaharui setiap tiga
tahun sekali.
The Board of Directors updates accounting policies and preparation of Financial Reports which are best practice updated every three
years.
8 Laporan Survey Kepuasan Customer agar dilengkapi dengan rekomendasi hasil survei yang harus ditindaklanjuti/ditangani.
The Customer Satisfaction Survey Report must be equipped with recommendations from the survey results that must be followed up/
handled.
9 Perusahaan agar menyusun surat ratifikasi atas Pedoman Pendanaan PT Pertamina (Persero) atau PT Pertamina Power Indonesia yang
dapat digunakan sebagai acuan manajemen dalam pengelolaan penggunaan pinjaman jangka panjang.
The Company prepares a letter of ratification of the Funding Guidelines of PT Pertamina (Persero) or PT Pertamina Power Indonesia which
can be used as a reference for management in managing the use of long-term loans.
10 Perusahaan agar memperbarui kebijakan mengenai metode penilaian untuk mengukur kepuasan pekerja dan melaksanakan survei
kepuasan pekerja yang secara best practice diperbaharui setiap tiga tahun sekali.
The Company updates the policy regarding the assessment method to measure employee satisfaction and conduct an employee
satisfaction survey which is best practice updated every three years.
PT Pertamina Geothermal Energy Tbk
Page 453
Laporan Tahunan 2025 | 2025 Annual Report 451
Rekomendasi
No
Recommendation
11 Direksi agar menandatangani Pakta Integritas yang dilampirkan dalam Usulan Tindakan Direksi yang harus mendapatkan persetujuan
dari Dewan Komisaris dan/atau rekomendasi dari Dewan Komisaris dan persetujuan RUPS/Pemilik Modal. Bila ternyata Direksi
mengalami (potensi) benturan kepentingan dan tidak menandatangani Pakta Integritas, maka anggota Direksi menyampaikan secara
tertulis kepada Dewan Komisaris disertai langkah-langkah yang diambil untuk menghindari transaksi yang mengandung benturan
kepentingan.
The Board of Directors signs the Integrity Pact attached to the Board of Directors' Action Proposal which must obtain approval from the
Board of Commissioners and/or recommendations from the Board of Commissioners and approval from the GMS/Capital Owners. If it
turns out that the Board of Directors experiences (potential) conflict of interests and does not sign the Integrity Pact, then members of the
Board of Directors submit in writing to the Board of Commissioners along with the steps taken to avoid transactions containing a conflict of
interest.
12 Direksi agar menyusun rencana Rapat Direksi dan agenda yang dibahas pada awal tahun buku.
The Board of Directors prepares a plan for the Board of Directors' Meeting and the agenda discussed at the beginning of the financial year.
13 Jumlah personil yang ditugaskan di Satuan Pengendali Internal (SPI) agar sesuai dengan kebutuhan untuk pelaksanaan tugas SPI.
The number of personnel assigned to the Internal Control Unit (SPI) to be in accordance with the needs for conducting SPI duties.
14 Kebijakan Pengelolaan Internal Audit agar diperbaharui, sesuai best practice setiap tiga tahun sekali.
The Internal Audit Management Policy is updated in accordance with best practice every three years.
15 Direksi agar memastikan persetujuan RKAP dilakukan tidak melampaui batas waktu persetujuan sesuai ketentuan Anggaran Dasar (AD)
Perusahaan, bahwa Dewan Komisaris harus mencapai keputusan terkait rancangan RKAP Tahunan Perseroan paling lambat pada saat
dimulainya tahun buku yang bersangkutan.
The Board of Directors ensures that the approval of the RKAP is granted without exceeding the approval deadline in accordance with the
provisions of the Company's Articles of Association, that the Board of Commissioners must reach a decision regarding the draft of the
Company's Annual RKAP no later than the start of the relevant financial year.
4. Aspek Pengungkapan dan Transparansi
Disclosure and Transparency Aspects
Rekomendasi
No.
Recommendation
1 Perseroan agar terus berupaya untuk dapat meraih juara dalam ajang award Laporan Tahunan dan Laporan Keberlanjutan
The Company must continue to strive to win the Annual Report and Sustainability Report awards.
Peraturan OJK tentang Penerapan OJK Regulation on the Implementation of
Pedoman Tata Kelola Perusahaan Public Company Governance Guidelines
Terbuka
Evaluasi penerapan GCG berdasarkan Peraturan Otoritas Evaluation of GCG implementation based on Financial
Jasa Keuangan (POJK) No. 21/POJK.04/2015 dan Edaran Services Authority Regulation (POJK) No. 21/POJK.04/2015
Otoritas Jasa Keuangan (SEOJK) No. 32/SEOJK.04/2015 and Financial Services Authority Circular (SEOJK) No. 32/
tentang Penerapan Pedoman Tata Kelola Perusahaan Terbuka SEOJK.04/2015 concerning the Implementation of Public
mencakup 5 (lima) aspek, 8 (delapan) prinsip, serta 25 (dua Company Governance Guidelines includes 5 (five) aspects, 8
puluh lima) rekomendasi penerapan aspek dan prinsip tata (eight) principles, and 25 (twenty-five) recommendations for the
kelola perusahaan yang baik berdasarkan pendekatan “telah implementation of aspects and principles of good corporate
sesuai/terpenuhi atau dengan penjelasan” (comply or explain). governance based on the “comply or explain” approach.
PT Pertamina Geothermal Energy Tbk
Page 454
452 Laporan Tahunan 2025 | 2025 Annual Report
Prinsip Rekomendasi Telah Sesuai atau Dengan Penjelasan
Principles Recommendation Complied with or With Explanation
Aspek 1: Hubungan Perusahaan Terbuka dengan Pemegang Saham Dalam Menjamin Hak-Hak Pemegang Saham
Aspect 1: The Relationship Between the Public Company and Its Shareholders in Protecting Shareholders’ Rights
1. Meningkatkan 1.1. Perusahaan Terbuka memiliki Terpenuhi / Complied
Nilai cara atau prosedur teknis
Penyelenggaraan pengumpulan suara (voting) PGE telah memiliki cara atau prosedur teknis pengumpulan suara (voting) pada RUPS
Rapat Umum baik secara terbuka maupun yang terdapat dalam Anggaran Dasar Pasal 11. Prosedur pengambilan suara juga
Pemegang Saham tertutup yang mengedepankan terdapat dalam Tata Tertib RUPS yang disampaikan bersamaan dengan pemanggilan
(RUPS). independensi, dan kepentingan RUPS dan pada saat Pembukaan RUPS yang harus dipatuhi oleh para Pemegang Saham
pemegang saham.
Enhancing the PGE has established a technical mechanism or procedures for voting at the GMS, as
Quality of the Public companies establish stipulated in Article 11 of the Articles of Association. The voting procedures are also
General Meeting technical mechanisms or outlined in the GMS Rules of Procedure, which are distributed together with the GMS
of Shareholders procedures for voting, invitation and reiterated during the opening of the GMS, and must be complied by all
(GMS). whether open or confidential, Shareholders.
that uphold shareholders’
independence and protect their
interests.
1.2. Seluruh anggota Direksi dan Terpenuhi / Complied
anggota Dewan Komisaris
Perusahaan Terbuka hadir Seluruh Anggota Dewan Komisaris dan Direksi Perusahaan hadir dalam RUPS Tahunan
dalam RUPS Tahunan Tahun Buku 2024 seperti dijelaskan dalam Akta Berita Acara RUPS Tahunan PGE No.
17 tanggal 3 Juni 2025.
All members of the Board of
Directors and the Board of All members of the Company’s Board of Commissioners and Board of Directors attended
Commissioners attended the the Annual GMS for the 2024 Financial Year, as stated in the Deed of Minutes of the
Annual GMS PGE Annual GMS No. 17 dated June 3, 2025.
1.3. Ringkasan risalah RUPS Terpenuhi / Complied
tersedia dalam website
Perusahaan Terbuka paling Perusahaan telah mengunggah Ringkasan Risalah RUPS Tahunan Tahun Buku 2024
sedikit selama 1 (satu) tahun. dalam Bahasa Indonesia dan Bahasa Inggris melalui situs web Perusahaan pada menu
“Investor” sub menu “RUPS/GMS”.
A summary of the GMS minutes
is published on the Public The Company has published the Summary of Minutes of GMS for the 2024 Financial
Company’s website for at least Year in both Indonesian and English on the Company’s website under the “Investor”
one year. menu and the “GMS” submenu.
PT Pertamina Geothermal Energy Tbk
Page 455
Laporan Tahunan 2025 | 2025 Annual Report 453
Prinsip Rekomendasi Telah Sesuai atau Dengan Penjelasan
Principles Recommendation Complied with or With Explanation
2. Meningkatkan 2.1. Perusahaan Terbuka memiliki Terpenuhi / Complied
Kualitas suatu kebijakan komunikasi
Komunikasi dengan pemegang saham atau Perusahaan telah memiliki kebijakan terkait komunikasi dengan Pemegang Saham atau
Perusahaan investor. Investor yang tercantum dalam Tata Kerja Organisasi Penyampaian Informasi Kepada
Terbuka dengan Investor, Komunitas Pasar Modal, dan Lembaga Pemeringkat Kredit Nomor: B-001/
Pemegang Saham The Public Company has PGE340/2024-S9 tanggal 30 September 2024.
atau Investor. established a communication
policy with shareholders and The Company has established a policy on communication with Shareholders or Investors,
Enhancing investors. as stipulated in the Organizational Work Procedures for Communicating Information to
the Quality of Investors, Capital Market Communities, and Credit Rating Agencies Number: B-001/
Communication PGE340/2024-S9 dated September 30, 2024.
Between
the Public 2.2. Perusahaan Terbuka Terpenuhi / Complied
Company and Its mengungkapkan kebijakan
Shareholders or komunikasi Perusahaan Perusahaan telah mempublikasikan kebijakan komunikasi Perusahaan dan informasi
Investors Terbuka dengan pemegang penting Perusahaan dalam situs web Perusahaan. Salah satunya adalah pengungkapan
saham atau investor dalam Prosedur Operasi Penyampaian Informasi Perusahaan Kepada Investor pada menu
website. “Investor” sub menu “Keterbukaan Informasi".
The Public Company discloses The Company has disclosed its communication policy and important corporate
its communication policy with information on its website. One of these disclosures is the Company’s Operational
shareholders or investors on its Procedures for Communicating Information to Investors, which can be accessed under
website. the “Investors” menu in the “Information Disclosure” submenu.
Hal ini merupakan bentuk
transparansi atas komitmen
Perusahaan Terbuka dalam
memberikan kesetaraan
kepada semua pemegang
saham atau investor atas
pelaksanaan komunikasi.
This serves as a form of
transparency reflecting the
Public Company’s commitment
to ensuring equal treatment for
all shareholders or investors in
the communication process.
Aspek 2: Fungsi dan Peran Dewan Komisaris
Aspect 2: The Function and Role of the Board of Commissioners
3. Memperkuat 3.1. Penentuan jumlah Terpenuhi / Complied
Keanggotaan dan anggota Dewan Komisaris
Komposisi Dewan mempertimbangkan kondisi Penentuan jumlah Dewan Komisaris telah mempertimbangkan kondisi Perusahaan,
Komisaris. Perusahaan Terbuka. yang mengacu pada Anggaran Dasar Perusahaan, yaitu Pasal 18 :
• Ayat (1) Dewan Komisaris, terdiri dari sedikitnya 2 orang anggota Dewan
Enhancing the The number of members of Komisaris. Dalam hal Dewan Komisaris terdiri lebih dari 2 orang, jumlah Komisaris
Membership and the Board of Commissioners Independen paling sedikit 30% dari jumlah seluruh anggota Dewan Komisaris,
Composition is determined based on dengan memperhatikan peraturan yang berlaku di bidang Pasal Modal, 1 di antara
of the Board of the conditions of the Public anggota Dewan Komisaris diangkat menjadi Komisaris Utama.
Commissioner Company. • Jumlah anggota Dewan Komisaris PGE per 31 Desember 2025 adalah sebanyak 5
orang, termasuk 2 orang di antaranya adalah Komisaris Independen
PT Pertamina Geothermal Energy Tbk
Page 456
454 Laporan Tahunan 2025 | 2025 Annual Report
Prinsip Rekomendasi Telah Sesuai atau Dengan Penjelasan
Principles Recommendation Complied with or With Explanation
The determination of the number of members of the Board of Commissioners has
considered the Company’s conditions and refers to the Company’s Articles of
Association, specifically Article 18, which stipulates the following:
• Paragraph (1): The Board of Commissioners shall consist of at least two members.
If the Board of Commissioners comprises more than 2 members, Independent
Commissioners must represent at least 30% of the total members of the Board
of Commissioners, in accordance with applicable Capital Market regulations,
one member of the Board of Commissioners shall be appointed as the President
Commissioner.
• As of December 31, 2025, the Company’s Board of Commissioners consists of 5
members, including two Independent Commissioners.
3.2. Penentuan komposisi Terpenuhi / Complied
anggota Dewan Komisaris
memperhatikan keberagaman Penentuan komposisi anggota Dewan Komisaris telah memperhatikan keberagaman
keahlian, pengetahuan, dan keahlian, pengetahuan, dan pengalaman yang dibutuhkan yang dapat dilihat dalam
pengalaman yang dibutuhkan. profil masing-masing anggota Dewan Komisaris.
The composition of the Board The determination of the composition of the Board of Commissioners has taken into
of Commissioners shall be account the diversity of required skills, knowledge, and experience, as reflected in the
determined by considering profile of each member of the Board of Commissioners.
the diversity of expertise,
knowledge, and experience
required.
4. Meningkatan 4.1. Dewan Komisaris mempunyai Terpenuhi / Complied
Kualitas kebijakan penilaian sendiri
Pelaksanaan (self-assessment) untuk menilai Dewan Komisaris telah memiliki kebijakan penilaian sendiri (self-assessment) untuk
Tugas dan kinerja Dewan Komisaris. menilai kinerja Dewan Komisaris yang tercantum dalam Board Manual Bab II Angka
Tanggung Jawab 2.17 tentang Evaluasi Kinerja Dewan Komisaris .
Dewan Komisaris. The Board of Commissioners
has established a self- The Board of Commissioners has established a self-assessment policy to evaluate its
Enhancing the assessment policy to evaluate performance, as stipulated in the Board Manual Chapter II Number 2.17 regarding the
Quality of the its performance Evaluation of the Performance of the Board of Commissioners.
Implementation
of the Board of
Commissioners’ 4.2. Kebijakan penilaian sendiri Terpenuhi / Complied
Duties and (self-assessment) untuk menilai
Responsibilities. kinerja Dewan Komisaris, Kebijakan penilaian sendiri (self-assessment) untuk menilai kinerja Dewan Komisaris
diungkapkan melalui Laporan yang berdasar pada Board Manual dengan menggunakan kriteria yang tertuang
Tahunan Perusahaan Terbuka. dalam Key Performance Indicator (KPI), telah diungkapkan dalam Laporan Tahunan
Perusahaan.
The self-assessment policy for
evaluating the performace of The self-assessment policy for evaluating the performance of the Board of Commissioners,
the Board of Commissioners as outlined in the Board Manual and based on the Key Performance Indicator (KPI)
is disclosed in the Public criteria, has been disclosed in the Company’s Annual Report.
Company’s Annual Report.
4.3. Dewan Komisaris mempunyai Terpenuhi / Complied
kebijakan terkait pengunduran
diri anggota Dewan Komisaris Dewan Komisaris telah memiliki kebijakan terkait pengunduran diri anggota Dewan
apabila terlibat dalam Komisaris apabila terlibat dalam kejahatan keuangan yang tercantum dalam Anggaran
kejahatan keuangan. Dasar Perusahaan Pasal 18 ayat (4) huruf c angka ix.
The Board of Commissioners The Board of Commissioners has a policy regarding the resignation of its members in
has a policy regarding the the event of involvement in financial crimes, as stipulated in the Company’s Articles of
resignation of its members in Association, Article 18 paragraph (4) letter c number ix.
the event of involvement in a
financial crime.
PT Pertamina Geothermal Energy Tbk
Page 457
Laporan Tahunan 2025 | 2025 Annual Report 455
Prinsip Rekomendasi Telah Sesuai atau Dengan Penjelasan
Principles Recommendation Complied with or With Explanation
4.4. Dewan Komisaris atau Komite Terpenuhi / Complied
yang menjalankan fungsi
Nominasi dan Remunerasi Dewan Komisaris telah mempunyai kebijakan suksesi dalam proses Nominasi Anggota
menyusun kebijakan suksesi Direksi yang tercantum di dalam Pedoman Pelaksanaan Fungsi Nominasi & Remunerasi
dalam proses Nominasi dan Board Manual Bab II Angka 2.19 huruf a, serta diselaraskan dengan ketentuan
anggota Direksi. yang diatur dalam Peraturan Menteri BUMN No. 3/2023 tentang Organ dan Sumber
Daya Manusia Badan Usaha Milik Negara.
The Board of Commissioners
or the Committee responsible The Board of Commissioners has established a succession policy in the nomination
for nomination and process for members of the Board of Directors, as stipulated in the Guidelines for the
remuneration functions Implementation of the Nomination and Remuneration Function and the Board Manual
establishes a succession policy Chapter II Number 2.19 letter a. This policy is also aligned with the provisions set out
in the nomination process in the Regulation of the Minister of SOE No. 3/2023 concerning Organs and Human
for members of the Board of Resources of State-Owned Enterprises.
Directors.
Aspek 3: Fungsi dan Peran Direksi
Aspect 3: The Function and Role of the Board of Directors
5. Memperkuat 5.1. Penentuan Jumlah anggota Terpenuhi / Complied
Keanggotaan dan Direksi mempertimbangkan
Komposisi Direksi kondisi Perusahaan Terbuka Penentuan jumlah anggota Direksi telah mempertimbangkan kondisi Perusahaan
serta efektifitas dalam Terbuka serta efektivitas dalam pengambilan keputusan. Berdasarkan Anggaran Dasar
Enhancing the pengambilan keputusan. Perusahaan Pasal 14 ayat (1), Direksi terdiri dari sedikitnya 2 (dua) orang, di mana
Membership and seorang di antaranya dapat diangkat sebagai Direktur Utama, dengan memperhatikan
Composition The determination of the peraturan perundangan yang berlaku.
of the Board of number of members of the
Directors Board of Directors takes into Jumlah anggota Direksi PGE per 31 Desember 2025 adalah sebanyak 4 (empat) orang
account the condition of the anggota.
Public Company and the
effectiveness of the decision- The determination of the number of members of the Board of Directors has considered
making process. the condition of the Public Company and the effectiveness of the decision-making
process. Referring to Article 14, paragraph (1) of the Company’s Articles of Association,
the Board of Directors shall consist of at least 2 (two) members, one of whom may be
appointed as the President Director in accordance with applicable laws and regulations.
As of December 31, 2025, the Board of Directors of PGE consists of 4 (four) members.
5.2. Penentuan komposisi anggota Terpenuhi / Complied
Direksi memperhatikan
keberagaman, keahlian, Penentuan komposisi anggota Direksi telah memperhatikan keberagaman keahlian,
pengetahuan, dan pengalaman pengetahuan, dan pengalaman yang dibutuhkan yang dapat dilihat dalam profil
yang dibutuhkan. masing-masing anggota Direksi.
The composition of the Board The composition of the Board of Directors has been determined by considering the
of Directors shall be determined diversity of required skills, knowledge, and experience, as reflected in the profile of each
by considering the diversity, member of the Board of Directors.
expertise, knowledge, and
experience required.
PT Pertamina Geothermal Energy Tbk
Page 458
456 Laporan Tahunan 2025 | 2025 Annual Report
Prinsip Rekomendasi Telah Sesuai atau Dengan Penjelasan
Principles Recommendation Complied with or With Explanation
5.3. Anggota Direksi yang Terpenuhi / Complied
membawahi bidang
akuntansi atau keuangan Anggota Direksi yang membawahi bidang akuntansi atau keuangan telah memiliki
memiliki keahlian dan/ keahlian dan/atau pengetahuan di bidang akuntansi atau keuangan. Keputusan
atau pengetahuan di RUPSLB tanggal 19 Februari 2024 yang telah disahkan melalui Akta Notaris No. 12
bidang akuntansi. Adanya tanggal 19 Februari 2024, menetapkan Yurizki Rio sebagai Direktur Keuangan. Yurizki
kualifikasi Direksi di bidang Rio memiliki pengalaman kerja selama lebih dari 15 tahun di bidang keuangan dan
akuntansi dapat memberikan akuntansi dengan berbagai keahlian di antaranya, Mergers & Acquisitions, Investment,
keyakinan atas penyusunan Strategic Financial Planning & Analysis, Financial Modeling, dan Project Management.
Laporan Keuangan agar
dapat diandalkan oleh para Members of the Board of Directors responsible for accounting or finance have expertise
stakeholders sebagai dasar and/or knowledge in accounting or finance. Based on the resolution of the EGMS held
pengambilan keputusan on February 19, 2024, as documented in Notarial Deed No. 12 dated February 19,
ekonomi Perusahaan Terbuka 2024, Yurizki Rio was appointed as Director of Finance. Yurizki Rio has more than 15
dimaksud. years of professional experience in finance and accounting, with expertise in areas
such as Mergers & Acquisitions, Investment, Strategic Financial Planning & Analysis,
A member of the Board of Financial Modeling, and Project Management.
Directors responsible for
accounting or finance must
possess expertise and/or
knowledge in accounting.
These qualifications help ensure
the reliability of financial
reporting, thereby providing
stakeholders with confidence
in using the financial statements
as a basis for making economic
decisions regarding the Public
Company.
6. Meningkatkan 6.1. Direksi mempunyai kebijakan Terpenuhi / Complied
Kualitas penilaian sendiri (self-
Pelaksanaan assessment) untuk menilai Direksi mempunyai kebijakan penilaian sendiri (self assessment) untuk menilai kinerja
Tugas dan kinerja Direksi. Direksi yang tercantum di dalam Board Manual Bab III Direksi Angka 3.20 tentang
Tanggung Jawaab Kinerja Direksi, dimana Penilaian Direktur Utama telah tercermin dalam penilaian
Direksi The Board of Directors has kinerja Direksi secara kolegial. Evaluasi Direksi dilakukan berdasarkan KPI dan
established a self-assessment disampaikan kepada Dewan Komisaris. Evaluasi akhir penilaian akan dilakukan oleh
Enhancing policy to evaluate its Komisaris Utama berdasarkan rekomendasi dari Komite Nominasi dan Remunerasi.
the Quality performance.
of the Board The Board of Directors has established a self-assessment policy to evaluate its
of Directors’ performance, as stipulated in the Board Manual Chapter III of the Board of Directors
Duties and Number 3.20 concerning the Performance of the Board of Directors. The assessment
Responsibilities. of the President Director is reflected in the collegial performance evaluation of the
Board of Directors. The evaluation of the Board of Directors is conducted based on
KPIs and submitted to the Board of Commissioners. The final evaluation is carried out
by the President Commissioner based on recommendations from the Nomination and
Remuneration Committee.
6.2. Kebijakan penilaian sendiri Terpenuhi / Complied
(self-assessment) untuk menilai
kinerja Direksi diungkapkan Kebijakan penilaian sendiri (self-assessment) untuk menilai kinerja Direksi tercantum
melalui laporan tahunan dalam Board Manual dan telah diungkapkan dalam Laporan Tahunan Perusahaan.
Perusahaan Terbuka. Mekanisme penilaian kinerja Direksi merupakan tanggung jawab Dewan Komisaris
dengan mengacu kepada pencapaian KPI Direksi dan Perseroan.
The self-assessment policy used
to evaluate the performance The self-assessment policy for evaluating the performance of the Board of Directors is
of the Board of Directors stipulated in the Board Manual and has been disclosed in the Company’s Annual Report.
is disclosed in the Public The performance evaluation mechanism of the Board of Directors is the responsibility of
Company’s Annual Report. the Board of Commissioners and is conducted with reference to the achievement of the
Board of Directors’ and the Company’s KPIs.
6.3. Direksi mempunyai kebijakan Terpenuhi / Complied
terkait pengunduran diri
anggota Direksi apabila terlibat Direksi sudah memiliki kebijakan terkait pengunduran diri anggota Direksi apabila
dalam kejahatan keuangan. terlibat dalam kejahatan keuangan yang tercantum di dalam Anggaran Dasar
Perusahaan Pasal 14 ayat 9.
The Board of Directors has a
policy regarding the resignation The Board of Directors has established a policy regarding the resignation of its members
of its members in the event of in the event of involvement in financial crimes, as stipulated in Article 14 paragraph (9)
involvement in a financial crime of the Company’s Articles of Association.
PT Pertamina Geothermal Energy Tbk
Page 459
Laporan Tahunan 2025 | 2025 Annual Report 457
Prinsip Rekomendasi Telah Sesuai atau Dengan Penjelasan
Principles Recommendation Complied with or With Explanation
Aspek 4: Partisipasi Pemangku Kepentingan
Aspect 4: Stakeholder Participation
7. Meningkatkan 7.1. Perusahaan Terbuka memiliki Terpenuhi / Complied
Aspek Tata Kelola kebijakan untuk mencegah
Perusahaan terjadinya insider trading. PGE telah memiliki kebijakan untuk mencegah terjadinya insider trading yang tercantum
melalui Partisipasi di dalam Kebijakan Insider Trading yang tersedia dalam situs web PGE pada bagian
Pemangku The Public Company has Etika Perusahaan.
Kepentingan. established a policy to prevent
insider trading. PGE has established a policy to prevent insider trading, as set out in the Insider Trading
Enhancing Policy available on the PGE website under the Corporate Ethics section.
Corporate
Governance
through
Stakeholder
Participation
7.2. Perusahaan Terbuka memiliki Terpenuhi / Complied
kebijakan anti korupsi dan anti
fraud. PGE telah memiliki kebijakan Anti Fraud dan Anti Korupsi, yang tercantum dalam:
(A) Tata Kerja Organisasi Pengelolaan Gratifikasi Nomor: B-003/PGE600/2025-S9
The Public Company has yang ditandatangani oleh Direktur Utama.
established anti-corruption and (B) Pedoman Etika Usaha dan Tata Perilaku (Code of Conduct) dengan Nomor
anti-fraud policies. Dokumen: 036/PGE000/2023-S0 Revisi Ke: 00 yang ditandatangani oleh Direktur
Utama pada tanggal 31 Mei 2023.
(C) Tata Kerja Individu Pelaporan, Pelaksanaan Monitoring, dan Penanganan Benturan
Kepentingan Nomor C-001/PGE600/2025-S9.
Selain itu, PGE juga telah menerapkan Sistem Manajemen Anti Penyuapan (SMAP)
berdasarkan ISO 370001:2016 yang terintegrasi dengan Geothermal Integrated
Management System (GIMS) sejak tahun 2020. Penerapan SMAP PGE berlaku hingga
25 November 2026.
PGE has established an Anti-Fraud and Anti-Corruption policy, as detailed in the
following documents:
(A) Organizational Work Procedures for Gratification Management, Number B-003/
PGE600/2025-S9, signed by the President Director.
(B) Business Ethics and Code of Conduct Guidelines, Document Number 036/
PGE000/2023-S0, Revision No. 00, signed by the President Director on May 31,
2023
(C) Individual Work Procedures for Reporting, Monitoring, and Handling Conflicts of
Interest, Number C-001/PGE600/2025-S9.
In addition, PGE has implemented an Anti-Bribery Management System (ABMS) based
on ISO 37001:2016, which has been integrated with the Geothermal Integrated
Management System (GIMS) since 2020. The ABMS certification is valid until November
25, 2026. The implementation of the ABMS PGE is valid until November 25, 2026.
7.3. Perusahaan Terbuka memiliki Terpenuhi / Complied
kebijakan tentang seleksi dan
peningkatan kemampuan Perusahaan telah memiliki kebijakan tentang seleksi dan peningkatan kemampuan
pemasok atau vendor. pemasok atau vendor melalui kebijakan Pedoman Pengadaan Barang dan Jasa
dengan Nomor Dokumen: A-008/PGE800/2024-S9 Revisi Ke: 00 Tanggal Berlaku 1
The Public Company has November 2024 dan Tata Kerja Organisasi Pelaksanaan Pemilihan Penyedia Barang/
policies for the selection of Jasa No. B-009/PGE820/2024-S9 Revisi Ke:00 Tanggal Berlaku 1 November 2024.
suppliers and vendors, as
well as for enhancing their The Company has established a policy for the selection of suppliers or vendors, as
capabilities. well as for improving their capabilities, through the Goods and Services Procurement
Guidelines, Document Number A-008/PGE800/2024-S9, Revision No. 00, effective
November 1, 2024, and the Organizational Work Procedures for the Implementation of
the Selection of Goods/Service Providers, Number B-009/PGE820/2024-S9, Revision
No. 00, effective November 1, 2024.
PT Pertamina Geothermal Energy Tbk
Page 460
458 Laporan Tahunan 2025 | 2025 Annual Report
Prinsip Rekomendasi Telah Sesuai atau Dengan Penjelasan
Principles Recommendation Complied with or With Explanation
7.4. Perusahaan Terbuka memiliki Terpenuhi / Complied
kebijakan tentang pemenuhan
hak-hak kreditur. Hak dan kewajiban Perusahaan kepada Kreditur tercantum di dalam kontrak dengan
The Public Company has a Kreditur di mana penyusunan kontrak mengacu pada kebijakan pihak Kreditur yang
policy regarding the fulfillment bekerja sama dengan Perusahaan
of creditors’ rights.
Pelaksanaan hubungan dengan Kreditur diatur dalam Pedoman Etika Usaha dan Etika
Perilaku pada Bab III Etika Usaha huruf A angka 10 tentang Etika Perseroan dengan
Kreditur, yang mengatur tentang kewajiban untuk menghormati hak-hak kreditur sesuai
perjanjian perikatan dan ketentuan perundang-undangan.
Perusahaan juga telah mencantumkan Perlindungan Hak Kreditur dalam situs web PGE.
The Company’s rights and obligations toward creditors are established in the creditor
contracts, which are drafted in accordance with the creditors’ policies in collaboration
with the Company.
The implementation of relationships with creditors is regulated in the Business Ethics
and Code of Conduct Guidelines, Chapter III, Letter A, Number 10, regarding the
Company’s Ethics with Creditors. These guidelines include, among other provisions, the
obligation to respect creditors’ rights in accordance with agreements and applicable
laws and regulations.
In addition, the Company has made information regarding the Protection of Creditor
Rights available on the PGE website.
7.5. Perusahaan Terbuka Terpenuhi / Complied
memiliki kebijakan sistem
whistleblowing. Perusahaan telah memiliki Surat Edaran No. E-066/PGE000/2022-S8 tentang Ratifikasi
Pedoman Pengelolaan Pengaduan PT Pertamina (Persero) di Lingkungan PT Pertamina
The Public Company is required Geothermal Energy Tbk yang ditandantangani oleh Direktur Utama tanggal 28 Juli
to have a whistleblowing 2022 yang bertujuan untuk memberikan arahan terkait pengelolaan whistleblowing
system policy system agar dapat berjalan efektif dan akuntabel.
The Company has issued Circular Letter No. E-066/PGE000/2022-S8 concerning the
Ratification of the Complaint Management Guidelines of PT Pertamina (Persero) within
PT Pertamina Geothermal Energy Tbk, signed by the President Director on July 28,
2022. This circular provides guidance for the management of the whistleblowing system
to ensure that it operates effectively and with accountability.
7.6. Perusahaan Terbuka memiliki Keterangan: telah sesuai
kebijakan pemberian insentif Note: Complied
jangka panjang kepada Direksi
dan pekerja. Kebijakan insentif jangka panjang untuk Direksi tercantum dalam Rapat Umum
Pemegang Saham Tahunan PT Pertamina Geothermal Energy Tbk tanggal
The Public Company has a 03 Juni 2025. Dimana Mata Acara Rapat Keempat yaitu mengenai “Persetujuan
long-term incentive policy for Penetapan Remunerasi, Tunjangan, dan Fasilitas Lainnya untuk Tahun Buku 2025, dan
its Board of Directors and penghargaan atas Kinerja (Tantiem) Tahun Buku 2024 untuk Dewan Komisaris dan
employees. Direksi Perseroan.”
Sementara kebijakan insentif jangka panjang untuk pekerja tercantum dalam Perjanjian
Kerja Bersama Periode 2024-2025 yaitu Pasal 20 tentang Imbalan atas Kinerja Pekerja.
Besaran dan tata cara pembayaran insentif pekerja diatur melalui Keputusan Direksi.
The long-term incentive policy for the Board of Directors was outlined in the Annual
General Meeting of Shareholders of PT Pertamina Geothermal Energy Tbk on June 3,
2025. The fourth agenda item, titled “Approval of the Determination of Remuneration,
Allowances, and Other Facilities for the 2025 Financial Year, and Performance Rewards
(Tantiem) for the 2024 Financial Year for the Company’s Board of Commissioners and
Directors.
For employees, the long-term incentive policy is outlined in Article 20 of the Collective
Labor Agreement for the 2024–2025 Period, which addresses rewards for employee
performance. The amounts and procedures for disbursing these employee incentives are
regulated through a Board of Directors Decree.
PT Pertamina Geothermal Energy Tbk
Page 461
Laporan Tahunan 2025 | 2025 Annual Report 459
Prinsip Rekomendasi Telah Sesuai atau Dengan Penjelasan
Principles Recommendation Complied with or With Explanation
Aspek 5: Keterbukaan Informasi
Aspect 5: Information Disclosure
8. Meningkatkan 8.1. Perusahaan Terbuka Terpenuhi / Complied
Pelaksanaan memanfaatkan penggunaan
Keterbukaan teknologi informasi secara lebih Perusahaan memanfaatkan penggunaan teknologi informasi secara lebih luas selain
Informasi luas selain website sebagai situs web sebagai media keterbukaan informasi, termasuk media sosial diantaranya,
media keterbukaan informasi. yaitu:
Enhancing Investor : pge.ir@pertamina.com
Information In addition to websites, public Pelanggan (Customer) : pcc135@pertamina.com
Disclosure companies use information Facebook (Pertamina Geothermal Energy)
technology more extensively Twitter (@pgepertamina)
as a means of disclosing Instagram (@pge.pertamina)
information.
In addition to websites, the Company utilizes a broader range of information technologies
as channels for information disclosure, including social media, such as:
Investor: pge.ir@pertamina.com
Customer: pcc135@pertamina.com
Facebook (Pertamina Geothermal Energy)
Twitter (@pgepertamina)
Instagram (@pge.pertamina)
8.2. Laporan Tahunan Perusahaan Terpenuhi / Complied
Terbuka mengungkapkan
pemilik manfaat akhir dalam Laporan Tahunan 2025 telah mengungkapkan komposisi Pemegang Saham Mayoritas
kepemilikan saham Perusahaan dan Pemegang Saham porsi besar pada Bab Profil Perusahaan
Terbuka paling sedikit
5%, selain pengungkapan The 2025 Annual Report discloses the composition of Majority Shareholders in the
pemilik manfaat akhir dalam Company Profile chapter
kepemilikan saham Perusahaan
Terbuka melalui pemegang
saham utama dan pengendali.
The Public Companie’s
Annual Report discloses the
Public Company’s beneficial
owners with at least 5%
share ownership, in addition
to disclosing the Public
Companies beneficial owners
through major and controlling
shareholders.
Hasil Penilaian GCG berdasarkan Results of the Assessment of the
standar ASEAN Corporate Governance Company’s GCG Implementation Based
Scorecard (ACGS) on ACGS Parameters
A. Hak dan Perlakuan yang Adil Terhadap Pemegang Saham
Rights and Equitable Treatment of Shareholders
A.1 Hak Dasar Pemegang Saham
Basic Shareholders Rights
Indikator “Ya” atau “Tidak” atau “N/A” Skor
No
Indicators “Yes” or “No” or “N/A” Answer Score
A.1.1 Apakah perusahaan membayar dividen (interim dan final/tahunan) secara adil
dan tepat waktu; artinya, semua pemegang saham diperlakukan sama dan
dibayar dalam waktu 30 hari setelah (i) diumumkan untuk dividen interim dan
(ii) disetujui oleh rapat umum pemegang saham untuk dividen final? Dalam hal
perusahaan telah menawarkan dividen Scrip, apakah perusahaan membayar
dividen tersebut dalam waktu 60 hari. Ya
1
Yes
Does the company pay (interim and final/annual) dividends in an equitable
and timely manner; that is, all shareholders are treated equally and paid within
30 days after being (i) declared for interim dividends and (ii) approved by
shareholders at general meetings for final dividends? In case the company has
offered Scrip dividend, did the company paid the dividend within 60 days.
Total Skor untuk Parameter A.1
1
Total Score for Parameter A.1
PT Pertamina Geothermal Energy Tbk
Page 462
460 Laporan Tahunan 2025 | 2025 Annual Report
A.2 Hak untuk Berpartisipasi Secara Efektif dan Memberikan Suara dalam Rapat Umum Pemegang Saham dan Harus
Mengetahui Peraturan, termasuk Prosedur Pemungutan Suara, yang mengatur Rapat Umum Pemegang Saham
Right to participate effectively in and vote in general shareholder meetings and should be informed of the rules, including voting
procedures, that govern general shareholder meetings.
Indikator “Ya” atau “Tidak” atau “N/A” Skor
No
Indicators “Yes” or “No” or “N/A” Answer Score
A.2.1 Apakah pemegang saham mempunyai kesempatan, yang dibuktikan dengan
mata acara, untuk menyetujui remunerasi (fee, tunjangan, benefit natura, dan
honorarium lainnya) atau kenaikan remunerasi bagi direktur/komisaris non-
eksekutif? Ya
1
Yes
Do shareholders have the opportunity, evidenced by an agenda item, to approve
remuneration (fees, allowances, benefit-in-kind and other emoluments) or any
increases in remuneration for the non-executive directors/commissioners?
A.2.2 Apakah perusahaan memberikan hak kepada pemegang saham non pengendali
untuk mencalonkan calon direksi/komisaris?
Tidak
0
No
Does the company provide non-controlling shareholders a right to nominate
candidates for board of directors/commissioners?
A.2.3 Apakah perusahaan memperbolehkan pemegang saham memilih direktur/
komisaris secara individu?
Tidak
0
No
Does the company allow shareholders to elect directors/commissioners
individually?
A.2.4 Apakah perusahaan mengungkapkan prosedur pemungutan suara yang
digunakan sebelum rapat dimulai?
Ya
1
Yes
Does the company disclose the voting procedures used before the start of
meeting?
A.2.5 Apakah risalah RUPS terakhir mencatat bahwa pemegang saham diberi
kesempatan untuk mengajukan pertanyaan dan pertanyaan yang diajukan
pemegang saham serta jawaban yang diberikan dicatat?
Ya
1
Yes
Do the minutes of the most recent AGM record that the shareholders were given
the opportunity to ask questions and the questions raised by shareholders and
answers given recorded?
A.2.6 Apakah perusahaan mengungkapkan hasil pemungutan suara termasuk suara
setuju, tidak setuju, dan abstain untuk seluruh keputusan/setiap mata acara RUPS
terkini?
Ya
1
Yes
Does the company disclose the voting results including approving, dissenting,
and abstaining votes for all resolutions/each agenda item for the most recent
AGM?
A.2.7 Apakah perusahaan mengungkapkan daftar anggota dewan yang menghadiri
RUPS terakhir? Ya
1
Does the company disclose the list of board members who attended the most Yes
recent AGM?
A.2.8 Apakah perusahaan mengungkapkan bahwa seluruh anggota dewan direksi
dan CEO (jika dia bukan anggota dewan direksi) menghadiri RUPS terakhir?
Ya
1
Yes
Does the company disclose that all board members and the CEO (if he is not a
board member) attended the most recent AGM?
A.2.9 Apakah perusahaan memperbolehkan pemungutan suara secara in-absentia?
Ya
1
Yes
Does the company allow voting in absentia?
A.2.10 Apakah perusahaan memberikan suara melalui jajak pendapat (dan bukan
dengan mengacungkan tangan) untuk semua resolusi pada RUPS terbaru?
Ya
1
Yes
Did the company vote by poll (as opposed to by show of hands) for all resolutions
at the most recent AGM?
A.2.11 Apakah perusahaan mengungkapkan telah menunjuk pihak independen
(pemeriksa/ pemeriksa) untuk menghitung dan/atau memvalidasi suara dalam
RUPST? Ya
1
Yes
Does the company disclose that it has appointed an independent party
(scrutineers/inspectors) to count and/or validate the votes at the AGM?
PT Pertamina Geothermal Energy Tbk
Page 463
Laporan Tahunan 2025 | 2025 Annual Report 461
A.2 Hak untuk Berpartisipasi Secara Efektif dan Memberikan Suara dalam Rapat Umum Pemegang Saham dan Harus
Mengetahui Peraturan, termasuk Prosedur Pemungutan Suara, yang mengatur Rapat Umum Pemegang Saham
Right to participate effectively in and vote in general shareholder meetings and should be informed of the rules, including voting
procedures, that govern general shareholder meetings.
Indikator “Ya” atau “Tidak” atau “N/A” Skor
No
Indicators “Yes” or “No” or “N/A” Answer Score
A.2.12 Apakah perusahaan mengumumkan kepada publik pada hari kerja berikutnya
hasil pemungutan suara pada RUPS/RUPSLB terkini untuk semua keputusan?
Tidak
0
No
Does the compaAny make publicly available by the next working day the result of
the votes taken during the most recent AGM/EGM for all resolutions?
A.2.13 Apakah perusahaan memberikan pemberitahuan setidaknya 21 hari sebelumnya
untuk semua RUPS dan RUPSLB? Ya
1
Yes
Does the company provide at least 21 days notice for all AGMs and EGMs?
A.2.14 Apakah perseroan memberikan alasan dan penjelasan atas setiap mata acara
yang memerlukan persetujuan pemegang saham dalam pemanggilan RUPS/
surat edaran dan/atau pernyataan yang menyertainya?
Ya
1
Yes
Does the company provide the rationale and explanation for each agenda item
which require shareholders’ approval in the notice of AGM/circulars and/or the
accompanying statement?
A.2.15 Apakah perusahaan memberikan kesempatan kepada pemegang saham untuk
memasukkan mata acara rapat umum dan/atau meminta diadakannya rapat
umum dengan persentase tertentu?
Ya
1
Yes
Does the company give the opportunity for shareholders to place item/s on the
agenda of general meetings and/or to request for general meetings subject to a
certain percentage?
Total Skor untuk Parameter A.2
12
Total Score for Parameter A.2
A.3 Pasar untuk Pengendalian Perusahaan Harus dibiarkan berfungsi secara Efisien dan Transparan
Markets for corporate control should be allowed to function in an efficient and transparent manner
Indikator “Ya” atau “Tidak” atau “N/A” Skor
No
Indicators “Yes” or “No” or “N/A” Answer Score
A.3.1 Dalam hal merger, akuisisi, dan/atau pengambilalihan memerlukan persetujuan
pemegang saham, apakah direksi/komisaris perseroan menunjuk pihak
independen untuk menilai kewajaran harga transaksi?
Ya
1
Yes
In cases of mergers, acquisitions and/or takeovers requiring shareholders’
approval, does the board of directors/commissioners of the company appoint an
independent party to evaluate the fairness of the transaction price?
Total Skor untuk Parameter A.3
1
Total Score for Parameter A.3
A.4 Pelaksanaan Hak Kepemilikan oleh Seluruh Pemegang Saham, Termasuk Investor
The Exercise of Ownership Rights by all Shereholders, Including Institutional Investors, Should be Facilitated
Indikator “Ya” atau “Tidak” atau “N/A” Skor
No
Indicators “Yes” or “No” or “N/A” Answer Score
A.4.1 Apakah perusahaan mengungkapkan praktiknya untuk mendorong pemegang
saham agar terlibat dengan perusahaan di luar rapat umum?
Ya
1
Yes
Does the company disclose its practices to encourage shareholders to engage
with the company beyond general meetings?
Total Skor untuk Parameter A.4
1
Total Score for Parameter A.4
PT Pertamina Geothermal Energy Tbk
Page 464
462 Laporan Tahunan 2025 | 2025 Annual Report
A.5 Saham dan Hak Suara
Shares and Voting Rights
Indikator “Ya” atau “Tidak” atau “N/A” Skor
No
Indicators “Yes” or “No” or “N/A” Answer Score
A.5.1 Apabila perusahaan mempunyai lebih dari satu kelas saham, apakah
perusahaan mempublikasikan hak suara yang melekat pada masing-masing
kelas saham tersebut (misalnya melalui website perusahaan/laporan/bursa/
website regulator)?
N/A 0
Where the company has more than one class of shares, does the company
publicise the voting rights attached to each class of shares (e.g. through the
company website / reports/ the stock exchange/ the regulator’s website)?
Total Skor untuk Parameter A.5
0
Total Score for Parameter A.5
A.6 Pemanggilan RUPS
Notice of AGMS
“Ya” atau “Tidak” atau
Indikator Skor
No “N/A”
Indicators Score
“Yes” or “No” or “N/A” Answer
A.6.1 Apakah setiap keputusan yang diambil pada rapat umum tahunan terakhir
hanya membahas satu hal saja, yaitu tidak ada penggabungan beberapa hal
menjadi satu keputusan yang sama?
Ya
1
Yes
Does each of the resolutions tabled at the most recent annual general meeting
deal with only one item, i.e., there is no bundling of several items into the same
resolution?
A.6.2 Apakah pemberitahuan RUPS/surat edaran terbaru perusahaan sepenuhnya
diterjemahkan ke dalam bahasa Inggris dan diterbitkan pada tanggal yang
sama dengan versi bahasa lokal? Ya
1
Yes
Are the company’s notice of the most recent AGM/circulars fully translated into
English and published on the same date as the local-language version?
Apakah pemanggilan RUPS/surat edaran memuat rincian sebagai berikut:
Does the notice of AGM/circulars have the following details:
A.6.3 Apakah profil direksi/komisaris (setidaknya usia, kualifikasi akademis, tanggal
penunjukan pertama, pengalaman, dan jabatan direktur di emiten lain) yang
ingin dipilih/dipilih kembali disertakan?
Ya
1
Yes
Are the profiles of directors/commissioners ( at least age, academic
qualification, date of first appointment, experience, and directorships in other
listed companies) in seeking election/re-election included?
A.6.4 Apakah auditor yang ingin diangkat/diangkat kembali diidentifikasi dengan
jelas? Ya
1
Yes
Are the auditors seeking appointment/re-appointment clearly identified?
A.6.5 Apakah dokumen proksi tersedia dengan mudah?
Ya
1
Yes
Were the proxy documents made easily available?
Total Skor untuk Parameter A.6
5
Total Score for Parameter A.6
A.7 Perdagangan Orang Dalam dan Transaksi Mandiri yang Bersifat Kekerasan Harus Dilarang
Insider Trading and Abusive Self-Dealing Should be Prohibited
Indikator “Ya” atau “Tidak” atau “N/A” Skor
No
Indicators “Yes” or “No” or “N/A” Answer Score
A.7.1 Apakah direksi/komisaris wajib melaporkan transaksi saham perseroan dalam
waktu 3 hari kerja?
Ya
1
Yes
Are the directors / commissioners required to report their dealings in company
shares within 3 business days?
Total Skor untuk Parameter A.7
1
Total Score for Parameter A.7
PT Pertamina Geothermal Energy Tbk
Page 465
Laporan Tahunan 2025 | 2025 Annual Report 463
A.8 Transaksi Pihak Berelasi oleh Direktur dan Eksekutif Kunci
Related Party Transactions by Directors and Key Executives
Indikator “Ya” atau “Tidak” atau “N/A” Skor
No
Indicators “Yes” or “No” or “N/A” Answer Score
A.8.1 Apakah perusahaan memiliki kebijakan yang mewajibkan komite yang terdiri
dari direktur/komisaris independen untuk meninjau materi RPT (transaksi dengan
pihak yang terafiliasi) untuk menentukan apakah RPT tersebut merupakan yang
terbaik bagi kepentingan perusahaan dan pemegang saham? Ya
1
Yes
Does the company have a policy requiring a committee of independent directors/
commissioners to review material RPTs to determine whether they are in the best
interests of the company and shareholders?
A.8.2 Apakah perusahaan memiliki kebijakan yang mewajibkan anggota dewan
(direktur/komisaris) untuk tidak ikut serta dalam diskusi dewan mengenai agenda
tertentu jika ada konflik?
Ya
1
Yes
Does the company have a policy requiring board members
(directors/commissioners) to abstain from participating in the board discussion
on a particular agenda when they are conflicted?
A.8.3 Apakah perusahaan mempunyai kebijakan mengenai pinjaman kepada direksi
dan komisaris yang melarang praktik ini atau memastikan bahwa hal tersebut
dilakukan secara twajar dan dengan harga pasar?
Ya
1
Yes
Does the company have policies on loans to directors and commissioners either
forbidding this practice or ensuring that they are being conducted at arm’s length
basis and at market rates?
Total Skor untuk Parameter A.8
1
Total Score for Parameter A.8
A.9 Melindungi Pemegang Saham Minoritas dari Tindakan Sewenang-Wenang
Protecting Minority Shareholders from Abusive Actions
“Ya” atau “Tidak” atau
Indikator Skor
No “N/A”
Indicators Score
“Yes” or “No” or “N/A” Answer
A.9.1 Apakah perusahaan mengungkapkan bahwa RPT dilakukan sedemikian rupa untuk
memastikan bahwa RPT tersebut adil dan wajar?
Ya
1
Yes
Does the company disclose that RPTs (Transaksi Related-party) are conducted in such
a way to ensure that they are fair and at arms’ length?
A.9.2 Dalam hal transaksi pihak berelasi memerlukan persetujuan pemegang saham,
apakah keputusan diambil oleh pemegang saham yang tidak berkepentingan?
Ya
1
Yes
In case of related party transactions requiring shareholders’ approval, is the decision
made by disinterested shareholders?
Total Skor untuk Parameter A.9
2
Total Score for Parameter A.9
Skor GCG untuk Prinsip Rights and Equitable Treatment of Shareholders
GCG Score for The Principle of Shareholders’ Rights and Equitable Treatment
Jumlah
Jumlah Parameter Skor per
Total Skor
Parameter Jumlah Setelah Komponen
Parameter Penentu Kepatuhan
No Keseluruhan N/A dikurangi N/A Score per
Key Parameter Total Compliance
Total Number of Total N/A Total Parameters Component
Score
Parameters After Deducting
N/A
1 Hak Dasar Pemegang Saham
100,00%
1 0 1 1
Basic Shareholder Rights
PT Pertamina Geothermal Energy Tbk
Page 466
464 Laporan Tahunan 2025 | 2025 Annual Report
Skor GCG untuk Prinsip Rights and Equitable Treatment of Shareholders
GCG Score for The Principle of Shareholders’ Rights and Equitable Treatment
Jumlah
Jumlah Parameter Skor per
Total Skor
Parameter Jumlah Setelah Komponen
Parameter Penentu Kepatuhan
No Keseluruhan N/A dikurangi N/A Score per
Key Parameter Total Compliance
Total Number of Total N/A Total Parameters Component
Score
Parameters After Deducting
N/A
2 Hak untuk berpartisipasi secara efektif
dan memberikan suara dalam rapat
umum pemegang saham dan harus
mengetahui peraturan, termasuk prosedur
pemungutan suara, yang mengatur rapat
umum pemegang saham
15 0 15 12 80,00%
The right to participate effectively and
vote in General Meetings of Shareholders
and must be aware of the rules, including
voting procedures, which govern the
General Meeting of Shareholders
3 Pasar untuk pengendalian perusahaan
harus dibiarkan berfungsi secara efisien
dan transparan
1 0 1 1 100,00%
Markets for corporate control should
operate in an efficient and transparent
manner
4 Pelaksanaan hak kepemilikan oleh
seluruh pemegang saham, termasuk
investor
1 0 1 1 100,00%
The exercise of ownership rights by all
shareholders, including investors
5 Saham dan hak suara
1 1 0 0 0,00%
Shares and voting rights
6 Pemanggilan RUPS
5 0 5 5 100,00%
Invitation to the GMS
7 Perdagangan orang dalam dan transaksi
mandiri yang bersifat kekerasan harus
dilarang
1 0 1 1 100,00%
Insider trading and violent independent
transactions should be prohibited
8 Transaksi pihak berelasi oleh direktur
dan eksekutif kunci.
3 0 3 3 100,00%
Related party transactions by Directors
and Key Executives
9 Melindungi pemegang saham minoritas
dari tindakan sewenang-wenang
2 0 2 2 100,00%
Protection of minority shareholders from
abusive actions
Total Pernyataan
yang Comply dengan Prinsip 30 1 29 26 89,66%
Total Statements Complying with The Principles
PT Pertamina Geothermal Energy Tbk
Page 467
Laporan Tahunan 2025 | 2025 Annual Report 465
B.1 Pengungkapan Terkait Keberlanjutan Harus Konsisten, Dapat Dibandingkan, dan Dapat Diandalkan, serta
Mencakup Informasi Material yang Bersifat Retrospektif dan Berwawasan ke Depan yang Dianggap Penting oleh
Investor Dalam Membuat Keputusan Investasi atau Pemungutan Suara
Sustainability-Related Disclosure Should Be Consistent, Comparable and Reliable, and Include Restrospective and Forward-Looking
Material Information that a Reasonable Investor Would Consider Important in Making an Investment or Voting Decision
Indikator “Ya” atau “Tidak” atau “N/A” Skor
No
Indicators “Yes” or “No” or “N/A” Answer Score
Informasi penting terkait Keberlanjutan harus disebutkan
Material Sustainability-related information should be specified
B.1.1 Apakah perusahaan mengidentifikasi/melaporkan topik-topik ESG
(Environmental, Social, and Governance) yang penting bagi strategi organisasi?
Ya
1
Yes
Does the company identify/report ESG topics that are material to the
organization’s strategy?
B.1.2 Apakah perusahaan mengidentifikasi perubahan iklim sebagai sebuah isu?
Ya
1
Yes
Does the company identify climate change as an issue?
B.1.3 Apakah perusahaan mengadopsi kerangka atau standar pelaporan
keberlanjutan yang diakui secara internasional (yaitu GRI, Pelaporan
Terintegrasi, SASB, Standar Pengungkapan Keberlanjutan IFRS)?
Ya
1
Yes
Does the company adopt an internationally recognized reporting framework
or standard for sustainability (i.e. GRI, Integrated Reporting, SASB, IFRS
Sustainability Disclosure Standards)?
Jika perusahaan secara publik menetapkan tujuan atau target terkait keberlanjutan, kerangka pengungkapan harus
menyediakan metrik yang andal dan diungkapkan secara berkala dalam bentuk yang mudah diakses.
If a company publicly sets a sustainability-related goal or target, the disclosure framework should provide that reliable metrics are regularly disclosed
in an easily accessible form.
B.1.4 Apakah perusahaan mengungkapkan target keberlanjutan kuantitatif?
Ya
1
Yes
Does the company disclose quantitative sustainability target?
B.1.5 Apakah perusahaan mengungkapkan kemajuan kinerja terkait keberlanjutan
sehubungan dengan target yang telah ditetapkan sebelumnya?
Ya
1
Yes
Does the company disclose sustainability-related performance progress in
relation to its previously set targets?
B.1.6 Apakah perusahaan memastikan bahwa Laporan Keberlanjutan/Pelaporannya
telah ditinjau dan/atau disetujui oleh Dewan atau Komite Dewan?
Ya
1
Yes
Does the company confirm that its Sustainability Report / Reporting is reviewed
and /or approved by the Board or Board Committee?
Total Skor untuk Parameter B.1
6
Total Score for Parameter B.1
B.2 Kerangka Tata Kelola Perusahaan Harus Memungkinkan Terjadinya Dialog Antara Perusahaan, Pemegang
Saham, dan Pemangku Kepentingan untuk Bertukar Pandangan Mengenai Masalah Keberlanjutan
Corporate Governance Frameworks Should Allow for Dialogue Between a Company, Its Shareholders to Exchange Views on
Sustainability Matter
Indikator “Ya” atau “Tidak” atau “N/A” Skor
No
Indicators “Yes” or “No” or “N/A” Answer Score
B.2.1 Apakah perusahaan melibatkan pemangku kepentingan internal untuk bertukar
pandangan dan mengumpulkan umpan balik mengenai permasalahan
keberlanjutan yang penting bagi bisnis perusahaan?
Ya
1
Yes
Does the company engage internal stakeholders to exchange views and gather
feedback on sustainability matters that are material to the business of the
company?
B.2.2 Apakah perusahaan melibatkan pemangku kepentingan eksternal untuk
bertukar pandangan dan mengumpulkan umpan balik mengenai permasalahan
keberlanjutan yang penting bagi bisnis perusahaan?
Ya
1
Yes
Does the company engage external stakeholders to exchange views and
gather feedback on sustainability matters that are material to the business of
the company?
Total Skor untuk Parameter B.2
2
Total Score for Parameter B.2
PT Pertamina Geothermal Energy Tbk
Page 468
466 Laporan Tahunan 2025 | 2025 Annual Report
B.3 Ketika Memenuhi Fungsi Utama Mereka Dalam Meninjau, Memantau, dan Memandu Praktik Tata Kelola,
Pengungkapan Informasi, Strategi, Manajemen Risiko, dan Sistem Pengendalian Internal, Termasuk Sehubungan
Dengan Risiko Fisik dan Transisi Risiko yang Berkaitan dengan Iklim
The Corporate Governance Framework Should Ensure that Boards Adequately Consider Materal Sustainability Risks and Opportunities
when Fulfilling Their Key Functions in Reviewing, Monitoring, and Guiding Governance Practices, Disclosure, Strategy, Risk Management
and Internal Control System, Including with Respect to Climate-Related Physical and Transition Risks
Indikator “Ya” atau “Tidak” atau “N/A” Skor
No
Indicators “Yes” or “No” or “N/A” Answer Score
B.3.1 Apakah perusahaan mengungkapkan bahwa dewan melakukan peninjauan
setiap tahun untuk memastikan struktur modal dan utang perusahaan sesuai
dengan tujuan strategis dan selera risiko yang terkait?
Ya
1
Yes
Does the company disclose that the board reviews on an annual basis that the
company’s capital and debt structure is compatible with its strategic goals and its
associated risk appetite?
Total Skor untuk Parameter B.3
1
Total Score for Parameter B.3
B.4 Kerangka Kerja Tata Kelola Perusahaan Harus Mengakui Hak-Hak Pemangku Kepentingan yang Ditetapkan oleh
Hukum atau Melalui Kesepakatan Bersama dan Mendorong Kerja Sama Aktif antara Perusahaan dan Pemangku
Kepentingan dalam Menciptakan Kekayaan, Lapangan Kerja, dan Keberlanjutan Perusahaan yang Sehat Secara
Finansial
The Corporate Governance Framework Should Recognize the Rights of Shareholders Established by Law Through Mutual Agreements and
Encourage Active Cooperation Between Corporations and Stakeholders in Creating Wealth, Jobs, and the Sustainability of Financially
Sound Enterprises
Indikator “Ya” atau “Tidak” atau “N/A” Skor
No
Indicators “Yes” or “No” or “N/A” Answer Score
Apakah perusahaan mengungkapkan kebijakan dan praktik yang membahas:
Does the company disclose a policy and practices that address:
B.4.1 Keberadaan dan ruang lingkup upaya perusahaan dalam mengatasi
kesejahteraan pelanggan? Ya
1
Yes
The existence and scope of the company’s efforts to address customers’ welfare?
B.4.2 Prosedur pemilihan pemasok/kontraktor?
Ya
1
Yes
Supplier/contractor selection procedures?
B.4.3 Upaya perusahaan untuk memastikan rantai nilainya ramah lingkungan atau
konsisten dengan mendorong pembangunan berkelanjutan?
Ya
1
Yes
The company’s efforts to ensure that its value chain is environmentally friendly or
is consistent with promoting sustainable development?
B.4.4 Upaya perusahaan untuk berinteraksi dengan masyarakat di mana mereka
beroperasi? Ya
1
Yes
The company’s efforts to interact with the communities in which they operate?
B.4.5 Program dan prosedur antikorupsi perusahaan?
Ya
1
Yes
The company’s anti-corruption programmes and procedures?
B.4.6 Bagaimana hak-hak kreditur dilindungi?
Ya
1
Yes
How creditors’ rights are safeguarded?
B.4.7 Apakah perusahaan mempunyai laporan/bagian terpisah yang membahas
upayanya dalam isu lingkungan/ekonomi dan sosial?
Ya
1
Yes
Does the company have a separate report/section that discusses its efforts on
environment/economy and social issues?
Total Skor untuk Parameter B.4
7
Total Score for Parameter B.4
PT Pertamina Geothermal Energy Tbk
Page 469
Laporan Tahunan 2025 | 2025 Annual Report 467
B.5 Apabila Kepentingan Pemangku Kepentingan Dilindungi oleh Undang-Undang, Maka Pemangku Kepentingan
Harus Mempunyai Kesempatan untuk Mendapatkan Ganti Rugi yang Efektif atas Pelanggaran Hak-Hak Mereka
Where Stakeholder Interest are Protected by Law, Stakeholders Should Have the Opportunity to Obtain Effective Redress for Violation of
Their Rights
Indikator “Ya” atau “Tidak” atau “N/A” Skor
No
Indicators “Yes” or “No” or “N/A” Answer Score
B.5.1 Apakah perusahaan memberikan rincian kontak melalui situs web perusahaan
atau Laporan Tahunan yang dapat digunakan oleh pemangku kepentingan
(misalnya pelanggan, pemasok, masyarakat umum, dll.) untuk menyuarakan
keprihatinan dan/atau keluhan mereka atas kemungkinan pelanggaran hak-hak
Ya
mereka? 1
Yes
Does the company provide contact details via the company’s website or Annual
Report which stakeholders (e.g. customers, suppliers, general public etc.) can use
to voice their concerns and/or complaints for possible violation of their rights?
Total Skor untuk Parameter B.5
1
Total Score for Parameter B.5
B.6 Apabila Kepentingan Pemangku Kepentingan Dilindungi oleh Undang-Undang, Maka Pemangku Kepentingan
Harus Mempunyai Kesempatan untuk Mendapatkan Ganti Rugi yang Efektif atas Pelanggaran Hak-Hak Mereka
Where Stakeholder Interest are Protected by Law, Stakeholders Should Have the Opportunity to Obtain Effective Redress for Violation of
Their Rights
Indikator “Ya” atau “Tidak” atau “N/A” Skor
No
Indicators “Yes” or “No” or “N/A” Answer Score
B.6.1 Apakah perusahaan secara eksplisit mengungkapkan kebijakan dan praktik
mengenai kesehatan, keselamatan, dan kesejahteraan karyawannya?
Ya
1
Yes
Does the company explicitly disclose the policies and practices on health, safety
and welfare for its employees?
B.6.2 Apakah perusahaan secara eksplisit mengungkapkan kebijakan dan praktik
program pelatihan dan pengembangan bagi karyawannya?
Ya
1
Yes
Does the company explicitly disclose the policies and practices on training and
development programmes for its employees?
B.6.3 Apakah perusahaan memiliki kebijakan penghargaan/kompensasi yang
memperhitungkan kinerja perusahaan di luar ukuran keuangan jangka pendek?
Ya
1
Yes
Does the company have a reward/compensation policy that accounts for the
performance of the company beyond short-term financial measures?
Total Skor untuk Parameter B.6
3
Total Score for Parameter B.6
B.7 Apabila Kepentingan Pemangku Kepentingan Dilindungi oleh Undang-Undang, Maka Pemangku Kepentingan
Harus Mempunyai Kesempatan untuk Mendapatkan Ganti Rugi yang Efektif atas Pelanggaran Hak-Hak Mereka
Where Stakeholder Interest are Protected by Law, Stakeholders Should Have the Opportunity to Obtain Effective Redress for Violation of
Their Rights
Indikator “Ya” atau “Tidak” atau “N/A” Skor
No
Indicators “Yes” or “No” or “N/A” Answer Score
B.7.1 Apakah perusahaan memiliki kebijakan whistleblowing yang mencakup tata
cara pengaduan pekerja dan pemangku kepentingan lainnya mengenai dugaan
perilaku ilegal dan tidak etis serta memberikan rincian kontak melalui situs web
perusahaan atau laporan tahunan
Ya
1
Yes
Does the company have a whistle blowing policy which includes procedures for
complaints by employees and other stakeholders concerning alleged illegal and
unethical behaviour and provide contact details via the company’s website or
annual report
B.7.2 Apakah perusahaan mempunyai kebijakan atau prosedur untuk melindungi
pekerja/orang yang mengungkap dugaan perilaku ilegal/tidak etis dari
tindakan pembalasan? Ya
1
Yes
Does the company have a policy or procedures to protect an employee/person
who reveals alleged illegal/unethical behaviour from retaliation?
Total Skor untuk Parameter B.7
2
Total Score for Parameter B.7
PT Pertamina Geothermal Energy Tbk
Page 470
468 Laporan Tahunan 2025 | 2025 Annual Report
Skor GCG Untuk Prinsip Sustainability And Resilience
GCG Score for the Principles of Sustainability and Resilience
Jumlah
Jumlah Parameter Skor per
Total Skor
Parameter Jumlah Setelah Komponen
Parameter Penentu Kepatuhan
No Keseluruhan N/A dikurangi N/A Score per
Key Parameter Total Compliance
Total Number of Total N/A Total Parameters Component
Score
Parameters After Deducting
N/A
1 Pengungkapan terkait keberlanjutan
harus konsisten, dapat dibandingkan,
dan dapat diandalkan, serta mencakup
informasi material yang bersifat
retrospektif dan berwawasan ke depan
yang dianggap penting oleh investor
dalam membuat keputusan investasi atau
pemungutan suara 6 0 6 6 100,00%
Sustainability disclosures should be
consistent, comparable, and reliable,
incorporating both historical and
forward-looking information that investors
deem essential for making investment or
voting decisions
2 Kerangka tata kelola perusahaan
harus memungkinkan terjadinya dialog
antara perusahaan, pemegang saham,
dan pemangku kepentingan untuk
bertukar pandangan mengenai masalah
keberlanjutan
2 0 2 2 100,00%
Corporate governance frameworks
should facilitate open dialogue between
the Company, its shareholders, and other
stakeholders to discuss and exchange
perspectives on sustainability-related
matters
3 Kerangka kerja tata kelola perusahaan
harus memastikan bahwa dewan direksi
secara memadai mempertimbangkan
risiko dan peluang keberlanjutan
yang material ketika memenuhi fungsi
utama mereka dalam meninjau,
memantau, dan memandu praktik
tata kelola, pengungkapan informasi,
strategi, manajemen risiko, dan sistem
pengendalian internal, termasuk
sehubungan dengan risiko fisik dan
transisi yang berkaitan dengan iklim
1 0 1 1 100,00%
The corporate governance framework
should ensure that the Boards of
Directors adequately consider material
sustainability risks and opportunities
when performing their core functions.
This includes overseeing, monitoring,
and guiding governance practices,
disclosure, strategy, risk management,
and internal control systems, including in
relation to climate-related physical and
transition risks
PT Pertamina Geothermal Energy Tbk
Page 471
Laporan Tahunan 2025 | 2025 Annual Report 469
Skor GCG Untuk Prinsip Sustainability And Resilience
GCG Score for the Principles of Sustainability and Resilience
Jumlah
Jumlah Parameter Skor per
Total Skor
Parameter Jumlah Setelah Komponen
Parameter Penentu Kepatuhan
No Keseluruhan N/A dikurangi N/A Score per
Key Parameter Total Compliance
Total Number of Total N/A Total Parameters Component
Score
Parameters After Deducting
N/A
4 Kerangka kerja tata kelola perusahaan
harus mengakui hak-hak pemangku
kepentingan yang ditetapkan oleh hukum
atau melalui kesepakatan bersama dan
mendorong kerja sama aktif antara
perusahaan dan pemangku kepentingan
dalam menciptakan kekayaan, lapangan
kerja, dan keberlanjutan perusahaan
yang sehat secara finansial
7 0 7 7 100,00%
The corporate governance framework
should recognize stakeholders’ rights as
established by law or mutual agreements,
as well as encourage active collaboration
between the Company and its
stakeholders in order to generate wealth,
create jobs, and ensure the sustainability
of a financially sound company.
5 Apabila kepentingan pemangku
kepentingan dilindungi oleh undang-
undang, maka pemangku kepentingan
harus mempunyai kesempatan untuk
mendapatkan ganti rugi yang efektif atas
pelanggaran hak-hak mereka.
1 0 1 1 100,00%
Where stakeholder interests are protected
by law, stakeholders should be provided
with the opportunity to obtain effective
compensation in cases where their rights
are violated.
6 Mekanisme partisipasi pekerja harus
dibiarkan berkembang
3 0 3 3 100,00%
Mechanisms for employee participation
should be supported to develop
7 Para pemangku kepentingan termasuk
pekerja perorangan dan badan
perwakilan mereka, harus dapat secara
bebas mengkomunikasikan keprihatinan
mereka tentang praktik-praktik ilegal atau
tidak etis kepada dewan direksi dan hak-
hak mereka tidak boleh dikompromikan
untuk melakukan hal ini.
2 0 2 2 100,00%
Stakeholders, including individual
employees and their representative
bodies, should have the right to freely
raise concerns about illegal or unethical
practices with the Board of Directors.
Their rights should not be compromised
for doing this.
Total Pertanyaan yang Comply dengan
Prinsip Sustainability and Resilience
22 0 22 22 100,00%
Total Questions Complying with the Principles
of Sustainability and Resilience
PT Pertamina Geothermal Energy Tbk
Page 472
470 Laporan Tahunan 2025 | 2025 Annual Report
C.1 Struktur Kepemilikan yang Transparan
Transparent Ownership Structure
“Ya” atau “Tidak” atau
Indikator Skor
No “N/A”
Indicators Score
“Yes” or “No” or “N/A” Answer
C.1.1 Apakah informasi kepemilikan saham mengungkapkan identitas pemilik
manfaat yang memiliki 5% kepemilikan saham atau lebih?
Ya
1
Yes
Does the information on shareholdings reveal the identity of beneficial owners,
holding 5% shareholding or more?
C.1.2 Apakah perusahaan mengungkapkan kepemilikan saham langsung dan tidak
langsung (yang dianggap) dari pemegang saham utama dan/atau substansial?
Ya
1
Yes
Does the company disclose the direct and indirect (deemed) shareholdings of
major and/or substantial shareholders?
C.1.3 Apakah perusahaan mengungkapkan kepemilikan saham langsung dan tidak
langsung (dianggap) oleh direktur (komisaris)?
Ya
1
Yes
Does the company disclose the direct and indirect (deemed) shareholdings of
directors (commissioners)?
C.1.4 Apakah perusahaan mengungkapkan kepemilikan saham manajemen senior
secara langsung dan tidak langsung (dianggap)?
Ya
1
Yes
Does the company disclose the direct and indirect (deemed) shareholdings of
senior management?
C.1.5 Apakah perusahaan mengungkapkan rincian perusahaan induk/induk,
anak perusahaan, perusahaan asosiasi, usaha patungan, dan perusahaan/
kendaraan bertujuan khusus (SPE)/ (SPV)?
Ya
1
Yes
Does the company disclose details of the parent/holding company, subsidiaries,
associates, joint ventures and special purpose enterprises/ vehicles (SPEs)/
(SPVs)?
Total Skor untuk Parameter C.1
5
Total Score for Parameter C.1
C.2 Kualitas Laporan Tahunan
Quality of Annual Report
“Ya” atau “Tidak” atau
Indikator Skor
No “N/A”
Indicators Score
“Yes” or “No” or “N/A” Answer
C.2.1 Tujuan perusahaan
Ya
1
Yes
Corporate objectives
C.2.2 Indikator kinerja keuangan
Ya
1
Yes
Financial performance indicators
C.2.3 Indikator kinerja non keuangan
Ya
1
Yes
Non-financial performance indicators
C.2.4 Kebijakan dividen
Ya
1
Yes
Dividend policy
C.2.5 Rincian biografi (setidaknya usia, kualifikasi akademis, tanggal penunjukan pertama,
pengalaman yang relevan, dan jabatan direktur lainnya di perusahaan tercatat) dari
seluruh direktur/komisaris
Ya
1
Yes
Biographical details (at least age, academic qualifications, date of first appointment,
relevant experience, and any other directorships of listed companies) of all directors/
commissioners
Pernyataan Konfirmasi Tata Kelola Perusahaan
Corporate Governance Confirmation Statement
PT Pertamina Geothermal Energy Tbk
Page 473
Laporan Tahunan 2025 | 2025 Annual Report 471
C.2 Kualitas Laporan Tahunan
Quality of Annual Report
“Ya” atau “Tidak” atau
Indikator Skor
No “N/A”
Indicators Score
“Yes” or “No” or “N/A” Answer
C.2.6 Apakah Laporan Tahunan berisi pernyataan yang menegaskan kepatuhan
penuh perusahaan terhadap kode etik tata kelola perusahaan dan jika terdapat
ketidakpatuhan, identifikasi dan jelaskan alasan setiap permasalahan tersebut?
Ya
1
Yes
Does the Annual Report contain a statement confirming the company’s full compliance
with the code of corporate governance and where there is non-compliance, identify
and explain reasons for each such issue?
Total Skor untuk Parameter C.2
6
Total Score for Parameter C.2
C.3 Remunerasi Anggota Dewan dan Eksekutif Kunci
Remuneration of Members of The Board and Key Executives
“Ya” atau “Tidak” atau
Indikator Skor
No “N/A”
Indicators Score
“Yes” or “No” or “N/A” Answer
C.3.1 Apakah ada pengungkapan struktur biaya untuk direktur/ komisaris non-eksekutif?
Ya
1
Yes
Is there disclosure of the fee structure for non-executive directors/commissioners?
C.3.2 Apakah perusahaan mengungkapkan secara publik [yaitu laporan tahunan atau
dokumen lain yang diungkapkan secara publik] rincian remunerasi setiap pekerja
non-eksekutif? direktur/komisaris? Ya
1
Yes
Does the company publicly disclose [i.e. annual report or other publicly disclosed
documents] details of remuneration of each non-executive director/commissioner?
C.3.3 Apakah perusahaan mengungkapkan kebijakan/praktik remunerasi (biaya,
tunjangan, tunjangan, dan imbalan lainnya) (yaitu penggunaan insentif dan ukuran
kinerja jangka pendek dan jangka panjang) untuk direktur eksekutif dan CEO?
Ya
1
Yes
Does the company disclose its remuneration (fees, allowances, benefit-in-kind and
other emoluments) policy/practices (i.e. the use of short term and long term incentives
and performance measures) for its executive directors and CEO?
C.3.4 Apakah perusahaan mengungkapkan secara publik [yaitu laporan tahunan atau
dokumen lain yang diungkapkan secara publik] rincian remunerasi masing-masing
direktur eksekutif dan CEO [jika dia bukan anggota Dewan]?
Ya
1
Yes
Does the company publicly disclose [i.e. annual report or other publicly disclosed
documents] the details of remuneration of each of the executive directors and CEO [if
he/she is not a member of the Board]?
Total Skor untuk Parameter C.3
4
Total Score for Parameter C.3
C.4 Pengungkapan Transaksi Pihak Berelasi (RPT)
Disclosure of Related Party Transactions (RPT)
“Ya” atau “Tidak” atau
Indikator Skor
No “N/A”
Indicators Score
“Yes” or “No” or “N/A” Answer
C.4.1 Apakah perusahaan mengungkapkan kebijakannya yang mencakup peninjauan dan
persetujuan RPT yang material?
Ya
1
Yes
Does the company disclose its policy covering the review and approval of material
RPTs?
C.4.2 Apakah perusahaan mengungkapkan nama, hubungan, sifat dan nilai setiap RPT
material?
Ya
1
Yes
Does the company disclose the name, relationship, nature and value for each material
RPTs?
Total Skor untuk Parameter C.4
2
Total Score for Parameter C.4
PT Pertamina Geothermal Energy Tbk
Page 474
472 Laporan Tahunan 2025 | 2025 Annual Report
C.5 Direksi dan Komisaris Berurusan Dengan Saham Perusahaan
Directors and Commissioners Dealing in Shares of The Company
“Ya” atau “Tidak” atau
Indikator Skor
No “N/A”
Indicators Score
“Yes” or “No” or “N/A” Answer
C.5.1 Apakah perusahaan mengungkapkan perdagangan saham perusahaan yang
dilakukan oleh orang dalam? Ya
1
Yes
Does the company disclose trading in the company’s shares by insiders?
Total Skor untuk Parameter C.5
1
Total Score for Parameter C.5
C.6 Auditor Eksternal dan Laporan Auditor
External Auditor and Auditor Report
Indikator “Ya” atau “Tidak” atau “N/A” Skor
No
Indicators “Yes” or “No” or “N/A” Answer Score
Dimana firma audit yang sama digunakan untuk jasa audit dan non-audit
Where the same audit firm is engaged for both audit and non-audit services
C.6.1 Apakah biaya audit dan non-audit diungkapkan?
Ya
1
Yes
Are the audit and non-audit fees disclosed?
C.6.2 Apakah biaya non-audit melebihi biaya audit?
Ya
1
Yes
Does the non-audit fee exceed the audit fees?
Total Skor untuk Parameter C.6
2
Total Score for Parameter C.6
C.7 Remunerasi Anggota Dewan dan Eksekutif Kunci
Remuneration of Members of The Board and Key Executives
Indikator “Ya” atau “Tidak” atau “N/A” Skor
No
Indicators “Yes” or “No” or “N/A” Answer Score
Apakah perusahaan menggunakan cara komunikasi berikut?
Does the company use the following modes of communication?
C.7.1 Pelaporan triwulanan
Ya
1
Yes
Quarterly reporting
C.7.2 Situs Perusahaan
Ya
1
Yes
Company website
C.7.3 Pengarahan analis
Ya
1
Yes
Analyst’s briefing
C.7.4 Pengarahan media/konferensi pers
Ya
1
Yes
Media briefings /press conferences
Total Skor untuk Parameter C.7
4
Total Score for Parameter C.7
PT Pertamina Geothermal Energy Tbk
Page 475
Laporan Tahunan 2025 | 2025 Annual Report 473
C.8 Penyampaian/Penerbitan Laporan Tahunan/Keuangan yang Tepat Waktu
Timely Filling/Release of Annual/Financial Reports
Indikator “Ya” atau “Tidak” atau “N/A” Skor
No
Indicators “Yes” or “No” or “N/A” Answer Score
C.8.1 Apakah laporan/pernyataan keuangan tahunan yang telah diaudit diterbitkan
dalam waktu 120 hari sejak akhir tahun buku?
Ya
1
Yes
Are the audited annual financial report / statement released within 120 days
from the financial year end?
C.8.2 Apakah laporan tahunan diterbitkan dalam waktu 120 hari sejak akhir tahun
keuangan? Ya
1
Yes
Is the annual report released within 120 days from the financial year end?
C.8.3 Apakah laporan/laporan keuangan tahunan telah ditegaskan secara benar dan
wajar/wajaran oleh direksi/komisaris dan/atau pejabat perusahaan terkait?
Ya
1
Is the true and fairness/fair representation of the annual financial statement/ Yes
reports affirmed by the board of directors/commissioners and/or the relevant
officers of the company?
Total Skor untuk Parameter C.8
3
Total Score for Parameter C.8
C.9 Situs Perusahaan
Company Website
Indikator “Ya” atau “Tidak” atau “N/A” Skor
No
Indicators “Yes” or “No” or “N/A” Answer Score
Apakah perusahaan memiliki situs web yang mengungkapkan informasi terkini mengenai hal-hal berikut:
Does the company have a website disclosing up-to-date information on the following:
C.9.1 Laporan/laporan keuangan (triwulanan terbaru)
Ya
1
Yes
Financial statements/reports (latest quarterly)
C.9.2 Materi diberikan dalam briefing kepada analis dan media
Ya
1
Yes
Materials provided in briefings to analysts and media
C.9.3 Laporan tahunan yang dapat diunduh
Ya
1
Yes
Downloadable annual report
C.9.4 Pemanggilan RUPS dan/atau RUPSLB
Ya
1
Yes
Notice of AGM and/or EGM
C.9.5 Risalah RUPS dan/atau RUPSLB
Ya
1
Yes
Minutes of AGM and/or EGM
C.9.6 Anggaran dasar perusahaan (anggaran rumah tangga perusahaan, nota
kesepahaman dan anggaran dasar)
Tidak
0
No
Company’s constitution (company’s by-laws, memorandum and articles of
association)
Total Skor untuk Parameter C.9
5
Total Score for Parameter C.9
C.10 Hubungan dengan Investor
Investor Relations
Indikator “Ya” atau “Tidak” atau “N/A” Skor
No
Indicators “Yes” or “No” or “N/A” Answer Score
C.10.1 Apakah perusahaan mengungkapkan rincian kontak (misalnya telepon, faks, dan
email) dari pejabat/ kantor yang bertanggung jawab atas hubungan investor?
Ya
1
Yes
Does the company disclose the contact details (e.g. telephone, fax, and email) of
the officer / office responsible for investor relations?
Total Skor untuk Parameter C.10
1
Total Score for Parameter C.10
PT Pertamina Geothermal Energy Tbk
Page 476
474 Laporan Tahunan 2025 | 2025 Annual Report
Skor GCG untuk Prinsip Disclosure and Transparency
GCG Score for the Principles of Disclosure and Transparency
Jumlah
Jumlah Parameter
Total Skor Skor per
Parameter Jumlah Setelah
Parameter Penentu Kepatuhan Komponen
No Keseluruhan N/A dikurangi N/A
Key Parameter Total Compliance Score per Component
Total Number of Total N/A Total Parameters
Score
Parameters After Deducting
N/A
1 Struktur Kepemilikan yang Transparan
5 0 5 5 100,00%
Transparent Ownership Structure
2 Kualitas Laporan Tahunan
6 0 6 6 100,00%
Quality of Annual Report
3 Remunerasi Anggota Dewan dan Eksekutif
Kunci
4 0 4 4 100,00%
Remuneration of Board Members and Key
Executives
4 Pengungkapan transaksi Pihak Berelasi
(RPT)
2 0 2 2 100,00%
Disclosure of Related Party Transactions
(RPT)
5 Direksi dan Komisaris Berurusan dengan
Saham Perusahaan
1 0 1 1 100,00%
Board of Directors and Board of
Commissioners dealing with Company
Shares
6 Auditor Eksternal dan Laporan Auditor
2 0 2 2 100,00%
External auditor and Auditor Report
7 Media Komunikasi
4 0 4 4 100,00%
Medium of communications
8 Penyampaian/penerbitan laporan
tahunan/keuangan yang tepat waktu
3 0 3 3 100,00%
Timely filing/release of annual/financial
reports
9 Situs web perusahaan
6 0 6 5 83,33%
Company website
10 Hubungan dengan Investor
1 0 1 1 100,00%
Investor relations
Total Pertanyaan yang Comply Dengan
Prinsip Disclosure and Transparency
34 0 34 33 97,06%
Total Questions Complying with the Principles of
Disclosure and Transparency
C.1 Tugas dan Tanggung Jawab Dewan
Board Duties and Responsibilities
Indikator “Ya” atau “Tidak” atau “N/A” Skor
No
Indicators “Yes” or “No” or “N/A” Answer Score
Tanggung jawab dewan dan kebijakan tata kelola perusahaan yang jelas
Clearly defined board responsibilities and corporate governance policy
D.1.1 Apakah perusahaan mengungkapkan kebijakan tata kelola perusahaan/piagam
dewan? Ya
1
Yes
Does the company disclose its corporate governance policy / board charter?
PT Pertamina Geothermal Energy Tbk
Page 477
Laporan Tahunan 2025 | 2025 Annual Report 475
C.1 Tugas dan Tanggung Jawab Dewan
Board Duties and Responsibilities
Indikator “Ya” atau “Tidak” atau “N/A” Skor
No
Indicators “Yes” or “No” or “N/A” Answer Score
D.1.2 Apakah jenis keputusan yang memerlukan persetujuan dewan direksi/komisaris
diungkapkan?
Ya
1
Yes
Are the types of decisions requiring board of directors/commissioners’ approval
disclosed ?
D.1.3 Apakah peran dan tanggung jawab direksi/komisaris disebutkan dengan jelas?
Ya
1
Are the roles and responsibilities of the board of directors/commissioners clearly Yes
stated ?
Visi/Misi Perusahaan
Corporate Vision/Mission
D.1.4 Apakah perusahaan memiliki pernyataan visi dan misi yang diperbarui?
Ya
1
Yes
Does the company have an updated vision and mission statement?
D.1.5 Apakah dewan direksi memainkan peran utama dalam proses pengembangan
dan peninjauan strategi perusahaan setidaknya setiap tahun?
Ya
1
Yes
Does the board of directors play a leading role in the process of developing and
reviewing the company’s strategy at least annually?
D.1.6 Apakah dewan direksi memiliki proses untuk meninjau, memantau dan
mengawasi penerapan strategi perusahaan?
Ya
1
Yes
Does the board of directors have a process to review, monitor and oversee the
implementation of the corporate strategy
Total Skor untuk Parameter D.1
6
Total Score for Parameter D.1
D.2 Struktur Dewan
Board Structure
Indikator “Ya” atau “Tidak” atau “N/A” Skor
No
Indicators “Yes” or “No” or “N/A” Answer Score
Kode Etik atau Perilaku
Code of Ethics or Conduct
D.2.1 Apakah rincian kode etik atau perilaku diungkapkan?
Ya
1
Yes
Are the details of the code of ethics or conduct disclosed?
D.2.2 Apakah seluruh direktur/komisaris, manajemen senior, dan pekerja diharuskan
mematuhi kode etik ini?
Ya
1
Yes
Are all directors/commissioners, senior management and employees required
to comply with the code/s?
D.2.3 Apakah perusahaan memiliki proses untuk menerapkan dan memantau
kepatuhan terhadap kode etik atau perilaku?
Ya
1
Yes
Does the company have a process to implement and monitor compliance with
the code/s of ethics or conduct?
Struktur & Komposisi Dewan
Board Structure & Composition
D.2.4 Apakah jumlah direktur/komisaris independen minimal 50% dari dewan
direksi/komisaris?
Ya
1
Yes
Do independent directors/commissioners make up at least 50% of the board of
directors/commissioners?
PT Pertamina Geothermal Energy Tbk
Page 478
476 Laporan Tahunan 2025 | 2025 Annual Report
D.2 Struktur Dewan
Board Structure
Indikator “Ya” atau “Tidak” atau “N/A” Skor
No
Indicators “Yes” or “No” or “N/A” Answer Score
D.2.5 Apakah perusahaan mempunyai batasan masa jabatan sembilan tahun atau
kurang atau 2 masa jabatan masing- masing lima tahun untuk direktur/komisaris
independen?
1 Jangka waktu lima tahun harus diwajibkan oleh undang-undang yang sudah
ada sebelum diperkenalkannya ASEAN Corporate Governance Scorecard
Ya
pada tahun 2011 1
Yes
Does the company have a term limit of nine years or less or 2 terms of five
years1 each for its independent directors/ commissioners?
1 The five years term must be required by legislation which pre-existed the
introduction of the ASEAN Corporate Governance Scorecard in 2011
D.2.6 Apakah perusahaan telah menetapkan batas lima kursi dewan direksi yang
dapat dipegang oleh seorang direktur/komisaris independen/non-eksekutif
secara bersamaan? Ya
1
Yes
Has the company set a limit of five board seats that an individual independent/
non-executive director/commissioner may hold simultaneously?
D.2.7 Apakah perusahaan mempunyai direktur eksekutif yang menjabat pada lebih
dari dua dewan perusahaan tercatat di luar grup?
Tidak
1
No
Does the company have any executive directors who serve on more than two
boards of listed companies outside of the group?
Komite Nominasi
Nominating Committee
D.2.8 Apakah perusahaan mempunyai Komite Nominasi?
Ya
1
Yes
Does the company have a Nominating Committee?
D.2.9 Apakah Komite Nominasi terdiri dari mayoritas direktur/ komisaris independen?
Ya
1
Is the Nominating Committee comprised of a majority of independent directors/ Yes
commissioners?
D.2.10 Apakah ketua Komite Nominasi merupakan direktur/ komisaris independen?
Ya
1
Is the chairman of the Nominating Committee an independent director/ Yes
commissioner?
D.2.11 Apakah perusahaan mengungkapkan kerangka acuan/struktur tata kelola/
piagam Komite Nominasi?
Ya
1
Yes
Does the company disclose the terms of reference/ governance structure/charter
of the Nominating Committee?
D.2.12 Apakah kehadiran rapat Komite Nominasi diungkapkan dan jika demikian,
apakah Komite Nominasi mengadakan pertemuan setidaknya dua kali dalam
setahun? Ya
1
Yes
Is the meeting attendance of the Nominating Committee disclosed and if so, did
the Nominating Committee meet at least twice during the year?
Komite Remunerasi/Komite Kompensasi
Remuneration Committee / Compensation Committee
D.2.13 Apakah perusahaan mempunyai Komite Remunerasi?
Ya
1
Yes
Does the company have a Remuneration Committee?
D.2.14 Apakah Komite Remunerasi seluruhnya terdiri dari direktur/ komisaris non-
eksekutif dengan mayoritas direktur/komisaris independen?
Ya
1
Yes
Is the Remuneration Committee comprised entirely of non-executive directors/
commissioners with a majority of independent directors/commissioners?
D.2.15 Apakah ketua Komite Remunerasi merupakan direktur/ komisaris independen?
Ya
1
Is the chairman of the Remuneration Committee an independent director/ Yes
commissioner?
PT Pertamina Geothermal Energy Tbk
Page 479
Laporan Tahunan 2025 | 2025 Annual Report 477
D.2 Struktur Dewan
Board Structure
Indikator “Ya” atau “Tidak” atau “N/A” Skor
No
Indicators “Yes” or “No” or “N/A” Answer Score
D.2.16 Apakah perusahaan mengungkapkan kerangka acuan/struktur tata kelola /
piagam Komite Remunerasi?
Ya
1
Yes
Does the company disclose the terms of reference/ governance structure/
charter of the Remuneration Committee?
D.2.17 Apakah kehadiran rapat Komite Remunerasi diungkapkan dan, jika demikian,
apakah Komite Remunerasi mengadakan pertemuan setidaknya dua kali dalam
setahun? Ya
1
Yes
Is the meeting attendance of the Remuneration Committee disclosed and, if so,
did the Remuneration Committee meet at least twice during the year?
Komite Audit
Audit Committee
D.2.18 Apakah perusahaan mempunyai Komite Audit?
Ya
1
Yes
Does the company have an Audit Committee?
D.2.19 Apakah Komite Audit seluruhnya terdiri dari direktur/ komisaris non-eksekutif
dengan mayoritas direktur/ komisaris independen?
Ya
1
Yes
Is the Audit Committee comprised entirely of non-executive directors/
commissioners with a majority of independent directors/commissioners?
D.2.20 Apakah ketua Komite Audit merupakan direktur/komisaris independen?
Ya
1
Yes
Is the chairman of the Audit Committee an independent director/commissioner?
D.2.21 Apakah perusahaan mengungkapkan kerangka acuan/struktur tata kelola/
piagam Komite Audit?
Ya
1
Yes
Does the company disclose the terms of reference/governance structure/charter
of the Audit Committee?
D.2.22 Apakah setidaknya salah satu direktur/komisaris independen komite mempunyai
keahlian akuntansi (kualifikasi atau pengalaman akuntansi)?
Ya
1
Yes
Does at least one of the independent directors/commissioners of the committee
have accounting expertise (accounting qualification or experience)?
D.2.23 Apakah kehadiran rapat Komite Audit diungkapkan dan, jika demikian, apakah
Komite Audit mengadakan pertemuan setidaknya empat kali dalam setahun?
Ya
1
Yes
Is the meeting attendance of the Audit Committee disclosed and, if so, did the
Audit Committee meet at least four times during the year?
D.2.24 Apakah Komite Audit mempunyai tanggung jawab utama untuk memberikan
rekomendasi mengenai penunjukan dan pemberhentian auditor eksternal? Ya
1
Does the Audit Committee have primary responsibility for recommendation on Yes
the appointment, and removal of the external auditor?
Total Skor untuk Parameter D.2
24
Total Score for Parameter D.2
D.3 Proses Dewan
Board Processes
Indikator “Ya” atau “Tidak” atau “N/A” Skor
No
Indicators “Yes” or “No” or “N/A” Answer Score
Rapat dan kehadiran dewan
Board meetings and attendance
D.3.1 Apakah rapat dewan direksi dijadwalkan sebelum awal tahun buku?
Ya
1
Yes
Are the board of directors meeting scheduled before the start of financial year?
D.3.2 Apakah dewan direksi/komisaris mengadakan pertemuan minimal enam kali
dalam setahun?
Ya
1
Yes
Does the board of directors/commissioners meet at least six times during the
year?
PT Pertamina Geothermal Energy Tbk
Page 480
478 Laporan Tahunan 2025 | 2025 Annual Report
D.3 Proses Dewan
Board Processes
Indikator “Ya” atau “Tidak” atau “N/A” Skor
No
Indicators “Yes” or “No” or “N/A” Answer Score
D.3.3 Apakah masing-masing direktur/komisaris menghadiri setidaknya 75% dari
seluruh rapat dewan yang diselenggarakan sepanjang tahun?
Ya
1
Yes
Has each of the directors/commissioners attended at least 75% of all the board
meetings held during the year?
D.3.4 Apakah perusahaan mensyaratkan kuorum minimum minimal 2/3 untuk
pengambilan keputusan dewan?
Ya
1
Yes
Does the company require a minimum quorum of at least 2/3 for board
decisions?
D.3.5 Apakah direktur/komisaris non-eksekutif perusahaan bertemu secara terpisah
setidaknya satu kali dalam setahun tanpa kehadiran eksekutif?
N/A 0
Did the non-executive directors/commissioners of the company meet separately
at least once during the year without any executives present?
Akses ke informasi
Access to information
D.3.6 Apakah kertas rapat dewan direksi/komisaris diberikan kepada dewan
setidaknya lima hari kerja sebelum rapat dewan?
Ya
1
Yes
Are board papers for board of directors/commissioners meetings provided to
the board at least five business days in advance of the board meeting?
D.3.7 Apakah sekretaris perusahaan memainkan peran penting dalam mendukung
dewan dalam melaksanakan tanggung jawabnya?
Ya
1
Yes
Does the company secretary play a significant role in supporting the board in
discharging its responsibilities?
D.3.8 Apakah sekretaris perusahaan terlatih dalam bidang hukum, akuntansi, atau
praktik kesekretariatan perusahaan dan selalu mengikuti perkembangan yang
relevan? Ya
1
Yes
Is the company secretary trained in legal, accountancy or company secretarial
practices and has kept abreast on relevant developments?
Pengangkatan Dewan dan Pemilihan Kembali
Board Appointments and Re-Election
D.3.9 Apakah perusahaan mengungkapkan kriteria yang digunakan dalam memilih
direktur/komisaris baru?
Ya
1
Yes
Does the company disclose the criteria used in selecting new directors/
commissioners?
D.3.10 Apakah perusahaan menjelaskan proses yang diikuti dalam menunjuk direktur/
komisaris baru?
Ya
1
Yes
Did the company describe the process followed in appointing new directors/
commissioners?
D.3.11 Apakah seluruh direktur/komisaris dapat dipilih kembali setiap 3 tahun; atau
5 tahun untuk perusahaan tercatat di negara yang peraturan perundang-
undangannya menetapkan jangka waktu masing-masing 5 tahun2?
2 Jangka waktu lima tahun harus diwajibkan oleh undang-undang yang sudah
ada sebelum diperkenalkannya ASEAN Corporate Governance Scorecard
pada tahun 2011 Ya
1
Yes
Are all directors/commissioners subject to re-election every 3 years; or 5 years
for listed companies in countries whose legislation prescribes a term of 5 years2
each?
2 The five years term must be required by legislation which pre-existed the
introduction of the ASEAN Corporate Governance Scorecard in 2011.
Masalah Remunerasi
Remuneration Matters
D.12 Apakah pemegang saham atau Dewan Direksi menyetujui remunerasi direktur
eksekutif dan/atau eksekutif senior?
Ya
1
Yes
Do the shareholders or the Board of Directors approve the remuneration of the
executive directors and/or the senior executives?
PT Pertamina Geothermal Energy Tbk
Page 481
Laporan Tahunan 2025 | 2025 Annual Report 479
D.3 Proses Dewan
Board Processes
Indikator “Ya” atau “Tidak” atau “N/A” Skor
No
Indicators “Yes” or “No” or “N/A” Answer Score
D.3.13 Apakah perusahaan mempunyai standar yang terukur untuk menyelaraskan
remunerasi berbasis kinerja bagi direktur eksekutif dan eksekutif senior dengan
kepentingan jangka panjang perusahaan, seperti penarikan kembali kembali
bonus yang sudah diberikan? Ya
1
Yes
Does the company have measurable standards to align the performance-based
remuneration of the executive directors and senior executives with long-term
interests of the company, such as claw back provision and deferred bonuses?
Audit internal
Internal Audit
D.3.14 Apakah perusahaan mempunyai fungsi audit internal tersendiri?
Ya
1
Yes
Does the company have a separate internal audit function?
D.3.15 Apakah kepala audit internal sudah diidentifikasi atau, jika dialihdayakan,
apakah nama perusahaan eksternal diungkapkan?
Ya
1
Yes
Is the head of internal audit identified or, if outsourced, is the name of the
external firm disclosed?
D.3.16 Apakah pengangkatan dan pemberhentian auditor internal memerlukan
persetujuan Komite Audit?
Ya
1
Yes
Does the appointment and removal of the internal auditor require the approval
of the Audit Committee?
Pengawasan Risiko
Risk Oversight
D.3.17 Apakah perusahaan menetapkan prosedur pengendalian internal/kerangka
manajemen risiko yang baik dan secara berkala meninjau efektivitas kerangka
tersebut? Ya
1
Yes
Does the company establish a sound internal control procedures/risk management
framework and periodically review the effectiveness of that framework?
D.3.18 Apakah Laporan Tahunan/Laporan CG Tahunan mengungkapkan bahwa
dewan direksi/ komisaris telah melakukan peninjauan terhadap pengendalian
material perusahaan (termasuk pengendalian operasional, keuangan dan
kepatuhan) dan sistem manajemen risiko?
Ya
1
Yes
Does the Annual Report/Annual CG Report disclose that the board of directors/
commissioners has conducted a review of the company's material controls
(including operational, financial and compliance controls) and risk management
systems?
D.3.19 Apakah perusahaan mengungkapkan risiko-risiko utama yang secara material
dihadapi oleh perusahaan (yaitu keuangan, operasional termasuk TI, lingkungan
hidup, sosial, ekonomi)?
Ya
1
Yes
Does the company disclose the key risks to which the company is materially
exposed to (i.e. financial, operational including IT, environmental, social,
economic)?
D.3.20 Apakah Laporan Tahunan/Laporan CG Tahunan memuat pernyataan direksi/
komisaris atau Komite Audit yang mengomentari kecukupan pengendalian
internal/sistem manajemen risiko perusahaan?
Ya
1
Yes
Does the Annual Report/Annual CG Report contain a statement from the board
of directors/commissioners or Audit Committee commenting on the adequacy of
the company's internal controls/risk management systems?
Total Skor untuk Parameter D.3
19
Total Score for Parameter D.3
PT Pertamina Geothermal Energy Tbk
Page 482
480 Laporan Tahunan 2025 | 2025 Annual Report
D.4 Orang-Orang di Dewan
People on The Board
Indikator “Ya” atau “Tidak” atau “N/A” Skor
No
Indicators “Yes” or “No” or “N/A” Answer Score
Ketua Dewan
Board Chairman
D.4.1 Apakah ada orang yang berbeda yang mengambil peran sebagai ketua dan
CEO?
N/A 0
Do different persons assume the roles of chairman and CEO?
D.4.2 Apakah ketuanya adalah direktur/komisaris independen?
N/A 0
Is the chairman an independent director/commissioner?
D.4.3 Apakah ada di antara direktur yang merupakan mantan CEO perusahaan
dalam 2 tahun terakhir? Tidak
1
No
Is any of the directors a former CEO of the company in the past 2 years
D.4.4 Apakah peran dan tanggung jawab ketua diungkapkan?
Ya
1
Yes
Are the roles and responsibilities of the chairman disclosed?
Direktur Independen Utama
Lead Independent Director
D.4.5 Jika Ketua tidak independen, apakah Dewan telah menunjuk Pemimpin/Direktur
Independen Senior dan apakah perannya telah ditetapkan?
N/A 0
If the Chairman is not independent, has the Board appointed a Lead/Senior
Independent Director and has his/her role been defined?
Keterampilan dan Kompetensi
Skills and Competencies
D.4.6 Apakah setidaknya satu direktur/komisaris non-eksekutif mempunyai
pengalaman kerja di sektor utama tempat perusahaan beroperasi?
Ya
1
Yes
Does at least one non-executive director/commissioner have prior working
experience in the major sector that the company is operating in?
Total Skor untuk Parameter D.4
3
Total Score for Parameter D.4
D.5 Kinerja Dewan
Board Performance
Indikator “Ya” atau “Tidak” atau “N/A” Skor
No
Indicators “Yes” or “No” or “N/A” Answer Score
Pengembangan Direksi
Directors Development
D.5.1 Apakah perusahaan mempunyai program orientasi bagi direksi/komisaris
baru?
Ya
1
Yes
Does the company have orientation programmes for new directors/
commissioners?
D.5.2 Apakah perusahaan mempunyai kebijakan dan praktik serta program aktual
yang mendorong direksi/komisaris untuk mengikuti program pendidikan profesi
berkelanjutan atau berkelanjutan?
Ya
1
Yes
Does the company have a policy and actual practice and programs that
encourages directors/commissioners to attend on-going or continuous
professional education programmes?
Penunjukan dan Kinerja CEO/Manajemen Eksekutif
CEO/Executive Management Appointments and Performance
D.5.3 Apakah perusahaan mengungkapkan proses bagaimana dewan direksi/
komisaris merencanakan suksesi CEO/Direktur Utama/ Presiden dan
manajemen kunci?
Tidak
0
No
Does the company disclose the process on how the board of directors/
commissioners plans for the succession of the CEO/Managing Director/
President and key management?
PT Pertamina Geothermal Energy Tbk
Page 483
Laporan Tahunan 2025 | 2025 Annual Report 481
D.5 Kinerja Dewan
Board Performance
Indikator “Ya” atau “Tidak” atau “N/A” Skor
No
Indicators “Yes” or “No” or “N/A” Answer Score
D.5.4 Apakah dewan direksi/komisaris melakukan penilaian kinerja tahunan
terhadap CEO/Direktur Utama/Presiden?
Ya
1
Yes
Does the board of directors/commissioners conduct an annual performance
assessment of the CEO/Managing Director/President?
Penilaian Dewan
Board Appraisal
D.5.5 Apakah perusahaan melakukan penilaian kinerja tahunan terhadap dewan
direksi/ komisaris dan mengungkapkan kriteria serta proses yang dilakukan
untuk penilaian tersebut?
Ya
1
Yes
Did the company conduct an annual performance assessment of the board of
directors/commissioners and disclose the criteria and process followed for the
assessment?
Penilaian Direktur
Director Appraisal
D.5.6 Apakah perusahaan melakukan penilaian kinerja tahunan terhadap masing-
masing direktur/komisaris dan mengungkapkan kriteria dan proses yang diikuti
untuk penilaian tersebut?
Ya
1
Yes
Did the company conduct an annual performance assessment of the individual
directors/commissioners and disclose the criteria and process followed for the
assessment?
Penilaian Komite
Committee Appraisal
D.5.7 Apakah perusahaan melakukan penilaian kinerja tahunan terhadap komite
dewan dan mengungkapkan kriteria serta proses yang diikuti untuk penilaian
tersebut? Ya
1
Yes
Did the company conduct an annual performance assessment of the board
committees and disclose the criteria and process followed for the assessment?
Total Skor untuk Parameter D.5
6
Total Score for Parameter D.5
Skor CG untuk Prinsip Responsibilities of the Board
CG Score for the Principles of Responsibilities of the Board
Jumlah
Jumlah Parameter
Total Skor Skor per
Parameter Jumlah Setelah
Parameter Penentu Kepatuhan Komponen
No Keseluruhan N/A dikurangi N/A
Key Parameter Total Compliance Score per Component
Total Number of Total N/A Total Parameters
Score
Parameters After Deducting
N/A
1 Tugas dan Tanggung Jawab Dewan
6 0 6 6 100,00%
Board Duties and Responsibilities
2 Struktur Dewan
24 0 24 24 100,00%
Board Structure
3 Proses Dewan
20 1 19 19 100,00%
Board Processes
4 Orang-Orang di Dewan
6 3 3 3 100,00%
People on the Board
5 Kinerja Dewan
7 0 7 6 85,71%
Board Performance
Total Pertanyaan yang Comply dengan
Prinsip Responsibilities of the Board
63 4 59 58 98,31%
Total Questions Complying With The Principles
Of Responsibilities Of The Board
PT Pertamina Geothermal Energy Tbk
Page 484
482 Laporan Tahunan 2025 | 2025 Annual Report
Hasil Penilaian (Skor) Level 1 Assessment Results (Scores) Level 1
(Prinsip A-D) (Principles A-D)
Jumlah Total item
Total item
Jumlah Item Parameter penilaian yang
penilaian yang Bobot (%)
Penilaian Jumlah Setelah telah dipenuhi
Prinsip belum dipenuhi Maximum Skor
Number of N/A Dikurangi N/A (complied)
Principle Total assessment Score (%) Score
Assessment Items Number N/A Number of Total assessment items
items not fulfilled
Parameters After that have been fulfilled
Reduction N/A (complied)
A 30 0 29 26 3 20 17,93
B 22 0 22 22 Kalua 0 15 15,00
C 34 0 34 32 2 25 24,26
D 63 4 59 58 1 40 39,32
Skor Level 1
149 4 144 139 6 100 96,52
Score Level 1
Bonus dan Penalti Bonus and Penalty
Ya” atau “Tidak” atau
Paramater Indikator Skor
No “N/A”
Parameters Indicators Score
“Yes” or “No” or “N/A” Answer
(B). A. Hak Dan Perlakuan Yang Adil Terhadap Pemegang Saham
Rights And Equitable Treatment Of Shareholders
(B) A.1 Hak untuk berpartisipasi secara (B) A.1.1 Apakah perusahaan menerapkan
efektif dan memberikan suara pemungutan suara elektronik yang
dalam rapat umum pemegang aman dan real-time secara in-abstia
saham dan harus mengetahui pada rapat umum pemegang saham?
peraturan, termasuk prosedur
pemungutan suara, yang Does the company practice real time
mengatur rapat umum pemegang secure electronic voting in absentia at
Ya
saham. general meetings of shareholders? 1
Yes
Right to participate effectively in
and vote in general shareholders
meeting and should be informed
of the rules, including voting
procedures, that govern general
shareholders meeting.
(B) A.2 Pemanggilan RUPS (B) A.2.1 Apakah perusahaan mengeluarkan
Notice of AGM pemanggilan RUPS (dengan rincian
agenda dan penjelasan surat
edaran), sebagaimana diumumkan
kepada Bursa, paling lambat 28 hari
sebelum tanggal rapat? Tidak
0
No
Does the company release its notice
of AGM (with detailed agendas and
explanatory circulars), as announced
to the Exchange, at least 28 days
before the date of the meeting?
(B). B. Keberlanjutan Dan Ketahanan
Sustainability And Resilience
(B) B.1 (B) B.1.1 Apakah perusahaan mengungkapkan
cara mereka mengelola risiko dan
peluang terkait perubahan iklim?
Ya
1
Yes
Does the company disclose how it
manages climate-related risks and
opportunities?
PT Pertamina Geothermal Energy Tbk
Page 485
Laporan Tahunan 2025 | 2025 Annual Report 483
Ya” atau “Tidak” atau
Paramater Indikator Skor
No “N/A”
Parameters Indicators Score
“Yes” or “No” or “N/A” Answer
(B) B.1.2 Apakah perusahaan mengungkapkan
bahwa Laporan Keberlanjutan/
Sustainability Reporting-nya
mendapat jaminan dari pihak
Ya
eksternal? 1
Yes
Does the company disclose that its
Sustainability Report / Sustainability
Reporting is externally assured?
(B) B.1.3 Apakah perusahaan mengungkapkan
saluran keterlibatan dengan kelompok
pemangku kepentingan dan
bagaimana perusahaan menanggapi
kekhawatiran pemangku kepentingan
ESG (Environmental, Social, and
Ya
Governance)? 1
Yes
Does the company disclose the
engagement channel with stakeholder
groups and how the company
responds to stakeholders’ ESG
concerns?
(B) B.1.4 Apakah perusahaan mempunyai
unit/divisi/ komite yang secara
khusus bertanggung jawab mengelola
urusan keberlanjutan?
Ya
1
Yes
Does the company have a unit
/ division / committee who is
specifically responsible to manage
the sustainability matters?
(B) B.1.5 Apakah perusahaan mengungkapkan
pengawasan dewan direksi/
komisaris terhadap risiko dan
peluang terkait keberlanjutan?
Ya
1
Yes
Does the company disclose board of
directors/commissioners' oversight
of sustainability-related risks and
opportunities?
(B) B.1.6 Apakah perusahaan mengungkapkan
hubungan antara remunerasi direktur
eksekutif dan manajemen senior serta
kinerja keberlanjutan pada tahun
sebelumnya?
Ya
1
Yes
Does the company disclose the
linkage between executive directors
and senior management remuneration
and sustainability performance for the
previous year?
(B) B.1.7 Apakah Whistleblowing System
perusahaan dikelola oleh pihak/
lembaga independen?
Ya
1
Yes
Is the company’s Whistle Blowing
System managed by independent
parties / institutions?
(B). C. Pengungkapan Dan Transparansi
Disclosure And Transparency
(B) C.1 Kualitas Laporan Tahunan (B) C.1.1 Apakah laporan/ pernyataan
Quality of Annual Report keuangan tahunan yang telah diaudit
diterbitkan dalam waktu 60 hari
sejak akhir tahun keuangan? Tidak
0
No
Are the audited annual financial
report /statement released within 60
days from the financial year end?
PT Pertamina Geothermal Energy Tbk
Page 486
484 Laporan Tahunan 2025 | 2025 Annual Report
Ya” atau “Tidak” atau
Paramater Indikator Skor
No “N/A”
Parameters Indicators Score
“Yes” or “No” or “N/A” Answer
(B). D. Tanggung Jawab Dewan
Responsibilities Of The Board
(B) D.1 Kompetensi dan Keberagaman (B) D.1.1 Apakah perusahaan memiliki minimal
Dewan satu direktur/komisaris independen
Board Competencies and perempuan?
Tidak
Diversity 0
No
Does the company have at least
one female independent director/
commissioner?
(B) D.1.2 Apakah perusahaan mempunyai
kebijakan dan mengungkapkan
tujuan terukur untuk menerapkan
keberagaman dewan dan
melaporkan kemajuan dalam
mencapai tujuannya? Ya
1
Yes
Does the company have a policy and
disclose measurable objectives for
implementing its board diversity and
report on progress in achieving its
objectives??
(B) D.2 Struktur Dewan (B) D.2.1 Apakah Komite Nominasi seluruhnya
Board Structure terdiri dari direktur/ komisaris
independen?
Ya
1
Yes
Is the Nominating Committee
comprise entirely of independent
directors/commissioners?
(B) D.2.2 Apakah Komite Nominasi melakukan
proses identifikasi kualitas direktur
yang selaras dengan arahan strategis
perusahaan?
Ya
1
Yes
Does the Nominating Committee
undertake the process of identifying
the quality of directors aligned with
the company's strategic directions?
(B) D.3 Pengangkatan Dewan dan (B) D.3.1 Apakah perusahaan menggunakan
Pemilihan Kembali perusahaan pencari profesional atau
Board Appointments and sumber kandidat eksternal lainnya
Re-Election (seperti database direktur yang dibuat
oleh direktur atau badan pemegang
saham) ketika mencari kandidat untuk
dewan direksi/komisaris?
Tidak
0
No
Does the company use professional
search firms or other external sources
of candidates (such as director
databases set up by director or
shareholder bodies) when searching
for candidates to the board of
directors/commissioners?
(B) D.4 Struktur & Komposisi Dewan (B) D.4.1 Apakah direktur/komisaris non-
Board Structure & Composition eksekutif independen mencakup lebih
dari 50% dewan direksi/komisaris
pada perusahaan yang ketuanya
independen?
Tidak
0
Do independent non-executive No
directors/commissioners make
up more than 50%of the board
of directors/commissioners for
a company with independent
chairman?
PT Pertamina Geothermal Energy Tbk
Page 487
Laporan Tahunan 2025 | 2025 Annual Report 485
Ya” atau “Tidak” atau
Paramater Indikator Skor
No “N/A”
Parameters Indicators Score
“Yes” or “No” or “N/A” Answer
(B) D.5 Pengawasan Risiko (B) D.5.1 Apakah perusahaan mengungkapkan
Risk Oversight bahwa Dewan telah mengidentifikasi
risiko-risiko utama yang terkait
dengan teknologi informasi termasuk
gangguan, keamanan siber,
dan pemulihan bencana, untuk
memastikan bahwa risiko-risiko
tersebut dikelola dan diintegrasikan
ke dalam kerangka manajemen risiko
Ya
secara keseluruhan? 1
Yes
Does the company disclose that its
Board identified key risk in relation
to information technology including
disruption, cyber security, and
disaster recovery, to ensure that such
risks are managed and integrated
into the overall risk management
framework?
(B) D.6 Kinerja Dewan (B) D.6.1 Apakah perusahaan memiliki Komite
Board Performance Risiko tingkat dewan yang terpisah?
Ya
1
Yes
Does the company have a separate
board level Risk Committee?
Ya” atau “Tidak” atau
Paramater Indikator Skor
No “N/A”
Parameters Indicators Score
“Yes” or “No” or “N/A” Answer
(P). A. Hak Dan Perlakuan yang Adil Kepada Pemegang Saham
Rights And Equitable Of Shareholders
(P) A.1 Hak dasar pemegang saham (P) A.1.1 Apakah perusahaan gagal atau lalai
Basic shareholder rights memberikan perlakuan yang sama
dalam pembelian kembali saham
kepada seluruh pemegang saham? Tidak
0
No
Did the company fail or neglect to offer
equal treatment for share repurchases
to all shareholders?
(P) A.2 Para pemegang saham, termasuk (P) A.2.1 Apakah terdapat bukti adanya
pemegang saham institusional, hambatan yang menghalangi
harus diperbolehkan untuk pemegang saham untuk berkomunikasi
berkonsultasi satu sama atau berkonsultasi dengan pemegang
lain mengenai isu-isu yang saham lainnya?
berkaitan dengan hak-hak dasar
pemegang saham sebagaimana Is there evidence of barriers that prevent
didefinisikan dalam Prinsip, shareholders from communicating or
dengan pengecualian untuk consulting with other shareholders? Tidak
0
mencegah penyalahgunaan. No
Shareholders, including
institutional shareholders, should
be allowed to consult with each
other on issues concerning their
basic shareholder rights as
defined in the Principles, subject
to exceptions to prevent abuse.
PT Pertamina Geothermal Energy Tbk
Page 488
486 Laporan Tahunan 2025 | 2025 Annual Report
Ya” atau “Tidak” atau
Paramater Indikator Skor
No “N/A”
Parameters Indicators Score
“Yes” or “No” or “N/A” Answer
(P) A.3 Hak untuk berpartisipasi secara (P) A.3.1 Apakah perusahaan mencantumkan
efektif dan memberikan suara agenda tambahan yang tidak
dalam rapat umum pemegang diumumkan sebelumnya dalam
saham dan harus mengetahui pemanggilan RUPST/RUPSLB? Tidak
0
peraturan, termasuk prosedur No
pemungutan suara, yang Did the company include any additional
mengatur rapat umum pemegang and unannounced agenda item into the
saham. notice of AGM/EGM?
(P) A.3.2 Apakah Ketua Dewan dan Ketua
Right to participate effectively in
seluruh Komite Dewan serta CEO tidak
and vote in general shareholders
hadir dalam Rapat Umum terakhir?
meeting and should be informed
Tidak
of the rules, including voting 0
Was the Chairman of the Board and the No
procedures, that govern general
Chairmen of all Board Committees and
shareholders meeting.
the CEO absent from the most recent
General Meeting?
(P) A.4 Struktur dan pengaturan Apakah perusahaan gagal mengungkapkan keberadaan:
permodalan yang Did the company fail to disclose the existence of:
memungkinkan pemegang
(P) A.4.1 Perjanjian pemegang saham? Tidak
saham tertentu memperoleh 0
Shareholders agreement? No
tingkat pengendalian yang
tidak proporsional dengan (P) A.4.2 Batasan pemungutan suara? Tidak
0
kepemilikan ekuitasnya harus Voting cap? No
diungkapkan.
(P) A.4.3 Hak pilih ganda?
Multiple voting rights?
Capital structures and
arrangements that enable certain
shareholders to obtain a degree
of control disproportionate to Tidak
their equity ownership should 0
No
be disclosed. enable certain
shareholders to obtain a degree
of control disproportionate to
their equity ownership should be
disclosed.
(P) A.5 Struktur dan pengaturan (P) A.5.1 Apakah struktur kepemilikan piramida
permodalan yang dan/atau struktur kepemilikan silang
memungkinkan pemegang terlihat jelas?
saham tertentu memperoleh
tingkat pengendalian yang Is a pyramid ownership structure and/
tidak proporsional dengan or cross holding structure apparent?
kepemilikan ekuitasnya harus
Ya
diungkapkan. 0
Yes
Capital structures and
arrangements that enable certain
shareholders to obtain a degree
of control disproportionate to
their equity ownership should be
disclosed.
(P) A.6 Perdagangan orang dalam dan (P) A.6.1 Apakah terdapat kasus insider trading
transaksi mandiri yang bersifat yang melibatkan direksi/komisaris,
kekerasan harus dilarang. manajemen dan pekerja dalam tiga
tahun terakhir?
Tidak
Insider trading and abusive self- 0
No
dealing should be prohibited. Has there been any conviction of
insider trading involving directors/
commissioners, management and
employees in the past three years?
PT Pertamina Geothermal Energy Tbk
Page 489
Laporan Tahunan 2025 | 2025 Annual Report 487
Ya” atau “Tidak” atau
Paramater Indikator Skor
No “N/A”
Parameters Indicators Score
“Yes” or “No” or “N/A” Answer
(P) A.7 Melindungi pemegang saham (P) A.7.1 Apakah ada kasus ketidakpatuhan
minoritas dari tindakan terhadap hukum, peraturan dan
sewenang-wenang perundang-undangan sehubungan
dengan transaksi pihak berelasi yang
Protecting minority shareholders material dalam tiga tahun terakhir?
Tidak
from abusive action 0
No
Has there been any cases of non-
compliance with the laws, rules and
regulations pertaining to material
related party transactions in the past
three years?
(P) A.7.2 Apakah ada RPT yang dapat
diklasifikasikan sebagai bantuan
keuangan (yaitu tidak dilakukan secara
wajar) kepada entitas selain anak
perusahaan yang dimiliki sepenuhnya?
Tidak
0
No
Were there any RPTs (Transaksi Related-
party) that can be classified as financial
assistance (i.e not conducted at arms
length) to entities other than wholly-
owned subsidiary companies?
(P). B. Peran Pemangku Kepentingan
Roles Of Stakeholders
(P) B.1 Hak-hak pemangku kepentingan (P) B.1.1 Apakah ada pelanggaran terhadap
yang ditetapkan berdasarkan undang-undang yang berkaitan
undang-undang atau melalui dengan masalah ketenagakerjaan/
kesepakatan bersama harus ketenagakerjaan/konsumen/
dihormati. kebangkrutan/komersial/kompetisi
Tidak
atau lingkungan hidup? 0
No
The rights of stakeholders that are
established by law or through Have there been any violations of any
mutual agreements are to be laws pertaining to labour/employment/
respected. consumer/insolvency/ commercial/
competition or environmental issues?
(P) B.2 Jika pemangku kepentingan (P) B.2.1 Apakah perusahaan pernah
berpartisipasi dalam proses menghadapi sanksi dari regulator
tata kelola perusahaan, mereka karena tidak membuat pengumuman
harus memiliki akses terhadap dalam jangka waktu yang ditentukan
informasi yang relevan, untuk peristiwa penting?
memadai, dan dapat diandalkan
secara tepat waktu dan teratur Has the company faced any sanctions Tidak
0
by regulators for failure to make No
Where stakeholders participate announcements within the requisite time
in the corporate governance period for material events?
process, they should have access
to relevant, sufficient and reliable
information on a timely and
regular basis.
(P) B.2.2 Apakah ada bukti bahwa perusahaan
terlibat dalam aktivitas greenwashing?
Tidak
0
No
Is there any evidence that the company
is engaging in greenwashing activities?
PT Pertamina Geothermal Energy Tbk
Page 490
488 Laporan Tahunan 2025 | 2025 Annual Report
Ya” atau “Tidak” atau
Paramater Indikator Skor
No “N/A”
Parameters Indicators Score
“Yes” or “No” or “N/A” Answer
(P). C. Pengungkapan Dan Transparansi
Disclosure And Transparency
(P) C.1 Sanksi dari regulator terhadap (P) C.1.1 Apakah perusahaan menerima
laporan keuangan “pendapat wajar dengan
pengecualian” dalam laporan audit
Tidak
Sanctions from regulator on eksternalnya? 0
No
financial reports
Did the company receive a "qualified
opinion" in its external audit report?
(P) C.1.2 Apakah perusahaan menerima
“opini buruk” dalam laporan audit
eksternalnya? Tidak
0
No
Did the company receive an "adverse
opinion" in its external audit report?
(P) C.1.3 Apakah perusahaan menerima
“disclaimer opinion” dalam laporan
audit eksternalnya? Tidak
0
No
Did the company receive a "disclaimer
opinion" in its external audit report?
(P) C.1.4 Apakah perusahaan dalam satu
tahun terakhir telah merevisi laporan
keuangannya karena alasan selain
perubahan kebijakan akuntansi? Tidak
0
No
Has the company in the past year revised
its financial statements for reasons other
than changes in accounting policies?
(P). D. Tanggung Jawab Dewan
Responsibilities Of The Board
(P) D.1 Kepatuhan terhadap aturan (P) D.1.1 Apakah ada bukti bahwa perusahaan
pencatatan, peraturan dan tidak mematuhi peraturan dan
hukum yang berlaku ketentuan pencatatan selain peraturan
pengungkapan selama setahun
Compliance with listing rules, terakhir? Tidak
0
regulations and applicable laws No
Is there any evidence that the company
has not complied with any listing rules
and regulations apart from disclosure
rules over the past year?
(P) D.1.2 Pernahkah ada kejadian di mana
direktur/komisaris non-eksekutif
mengundurkan diri dan mengangkat
permasalahan terkait tata kelola?
Tidak
0
No
Have there been any instances where
non-executive directors/commissioner
have resigned and raised any issues of
governance-related concerns?
(P) D.2 Struktur Dewan (P) D.2.1 Apakah Perseroan mempunyai
Board structure direktur/komisaris independen yang
telah menjabat lebih dari sembilan
tahun atau dua periode masing-masing
lima tahun (mana yang lebih tinggi)
dalam kapasitas yang sama? Tidak
0
No
1 Jangka waktu lima tahun harus
diwajibkan oleh undang-undang yang
sudah ada sebelum diperkenalkannya
ASEAN Corporate Governance
Scorecard pada tahun 2011
PT Pertamina Geothermal Energy Tbk
Page 491
Laporan Tahunan 2025 | 2025 Annual Report 489
Ya” atau “Tidak” atau
Paramater Indikator Skor
No “N/A”
Parameters Indicators Score
“Yes” or “No” or “N/A” Answer
Does the Company have any
independent directors/commissioners
who have served for more than nine
years or two terms of five years each
(which ever is higher) in the same
capacity?
1 The five years term must be required
by legislation which pre-existed
before the introduction of the ASEAN
Corporate Governance Scorecard in
2011
(P)D.2.2 Apakah perusahaan gagal
mengidentifikasi dengan tepat
gambaran seluruh direkturnya sebagai
independen, non-eksekutif, dan
eksekutif? Tidak
0
No
Did the company fail to correctly identify
the description of all their directors
as independent, non-executive, and
executive?
(P) D.2.3 Apakah perusahaan mempunyai
direktur/non eksekutif/komisaris
independen yang menjabat di lebih
dari lima dewan di perusahaan publik?
Tidak
0
Does the company have any No
independent directors/non-executive/
commissioners who serve on a total of
more than five boards of publicly-listed
companies?
(P) D.3 Audit Eksternal (P) D.3.1 Apakah ada di antara direktur atau
External Audit manajemen senior yang merupakan
mantan pekerja atau mitra auditor
eksternal saat ini (dalam 2 tahun
terakhir)? Tidak
0
No
Is any of the directors or senior
management a former employee or
partner of the current external auditor
(in the past 2 years)?
(P) D.4 Struktur dan Komposisi Dewan (P) D.4.1 Apakah ketuanya pernah menjadi CEO
Board structure and composition perusahaan dalam tiga tahun terakhir?
Tidak
0
No
Has the chairman been the company
CEO in the last three years?
(P) D.4.2 Apakah direktur/komisaris non-
eksekutif menerima opsi, bagi hasil
atau bonus?
Tidak
0
No
Do non-executive directors/
commissioners receive options,
performance shares or bonuses?
PT Pertamina Geothermal Energy Tbk
Page 492
490 Laporan Tahunan 2025 | 2025 Annual Report
Total item penilaian yang
Bonus dan Jumlah Item
mendapat Bonus & Penalti Skor
Penalti Penilaian
Total Assessment Items Receiving Score
Bonus And Penalty Number of Assessment Items
Bonus And Penalty Points
Bonus 18 13 26
Penalti | Penalty 26 0 0
Skor Level 2
26
Score Level 2
Penilaian GCG berdasarkan Pedoman
Umum Governansi Korporat Indonesia General Guidelines for Indonesian
(PUGKI) Corporate Governance (PUGKI)
Nomor Rekomendasi Penjelasan dan Pelaksanaan
No. Recommendation Explanation and Implementation
Prinsip 1 / Principle 1
Peran Dan Tanggung Jawab Direksi Dan Dewan Komisaris
Duties And Responsibilities Of The Board Of Directors And The Board Of Commissioners
1.1 Peran dan Tanggung Jawab Direksi/Duties and Responsibilities of the Board of Directors
1.1.1 Untuk mencapai penciptaan nilai yang berkelanjutan, Direksi Poin 1.1.1 - 1.1.9 / Points 1.1.1 - 1.1.9
menjalankan peran kepemimpinannya dan berupaya mencapai Terpenuhi / Complied
hasil governance sebagai berikut:
a. Berdaya saing dan berfokus ke kinerja jangka panjang; Peran dan tanggung jawab Direksi telah dijelaskan di dalam
b. Beretika dan bertanggung jawab dalam menjalankan bisnis; Pasal 14 dan Pasal 15 Anggaran Dasar PGE.
c. Berkontribusi positif terhadap masyarakat dan lingkungan; serta The duties and responsibilities of the Board of Directors are
d. Berkemampuan dalam bertahan dan bertumbuh (corporate outlined in Articles 14 and 15 of PGE's Articles of Association.
resilience).
Board Manual dapat diakses melalui situs web:
To achieve sustainable value creation, the Board of Directors The Board Manual is available online at:
carries out its leadership role and strives to achieve the following h t t p s : / / w w w. p g e . p e r t a m i n a . c o m / M e d i a / U p l o a d s /
governance results: keberlanjutan/file/Board%20Manual%202023_.pdf
a. Maintain competitiveness and focused on long-term performance;
b. Conduct business ethically and responsibly;
c. Make a positive contribution to society and the environment; and
d. Ensure the Corporate resilience, enabling it to survive and grow.
1.1.2 Direksi harus memastikan bahwa visi, misi, tujuan, sasaran, strategi,
dan rencana tahunan dan jangka menengah korporasi konsisten
dengan tujuan jangka panjang, dengan memanfaatkan inovasi dan
teknologi secara efektif.
The Board of Directors must ensure that the Corporation’s mission,
vision, goals, objectives, strategies, and annual and medium-term
plans align with its long-term objectives, leveraging innovation and
technology effectively.
1.1.3 Direksi memastikan bahwa korporasi menerapkan manajemen
risiko dan sistem pengendalian internal yang tepat dan efektif yang
selaras dengan visi, misi, tujuan, sasaran, dan strategi korporasi
serta mematuhi peraturan perundang-undangan dan standar yang
berlaku.
The Board of Directors ensures that the Corporation implements
appropriate and effective risk management and internal control
systems that align with the Corporate vision, mission, goals,
objectives, and strategies, while complying with applicable laws,
regulations, and standards.
1.1.4 Direksi memastikan integritas akuntansi dan sistem pelaporan
keuangan korporasi dan pengungkapan yang tepat waktu dan
akurat atas semua informasi material mengenai korporasi.
The Board of Directors ensures the integrity of the Corporation’s
accounting and financial reporting systems, as well as the timely
and accurate disclosure of all material information concerning the
Corporation.
PT Pertamina Geothermal Energy Tbk
Page 493
Laporan Tahunan 2025 | 2025 Annual Report 491
Nomor Rekomendasi Penjelasan dan Pelaksanaan
No. Recommendation Explanation and Implementation
1.1.5 Direksi memastikan pelaporan keberlanjutan telah disusun
sebagaimana mestinya.
The Board of Directors ensures that sustainability reports are
prepared appropriately.
1.1.6 Direksi membangun kerangka kerja untuk governansi teknologi
informasi (TI) korporasi yang selaras dengan kebutuhan dan
prioritas bisnis korporasi, mendorong peluang dan kinerja bisnis,
memperkuat manajemen risiko, serta mendukung tujuan dan strategi
korporasi.
The Board of Directors establishes a framework for Corporate
Information Technology (IT) governance that aligns with business
needs and priorities, encourages business opportunities and
performance, strengthens risk management, and supports the
achievement of Corporate goals and strategies.
1.1.7 Bagi korporasi yang menjalankan kegiatan usaha berdasarkan
prinsip Syariah, Direksi perlu memastikan kewenangan dan
ketersediaan perangkat pendukung yang memadai agar Dewan
Pengawas Syariah dapat menjalankan perannya dengan efektif.
For corporations operating under Sharia principles, the Board of
Directors needs to ensure that the Sharia Supervisory Board has
sufficient authority and availability to adequate supporting resources
to perform its duties effectively.
1.1.8 Piagam Direksi secara periodik ditinjau. Piagam mencakup antara
lain pembagian peran Direktur secara individual dapat diatur di
Piagam Direksi atau dengan surat keputusan Direksi.
The Board of Directors’ Charter is reviewed periodically. The Charter
includes, among other things, the allocation of roles of individual
Directors, which can be regulated in the Directors’ Charter or by a
Directors’ Decree.
1.1.9 Direksi mempunyai kebijakan terkait pengunduran diri anggota
Direksi apabila terlibat dalam kejahatan keuangan dan terbukti
melakukan kesalahan.
The Board of Directors has a policy regarding the resignation of
members of members who are involved in financial crimes and found
to be at fault.
PT Pertamina Geothermal Energy Tbk
Page 494
492 Laporan Tahunan 2025 | 2025 Annual Report
Nomor Rekomendasi Penjelasan dan Pelaksanaan
No. Recommendation Explanation and Implementation
1.2 Penilaian Kinerja - Direksi dan Anggotanya | Performance Assessment – the Board of Directors and Members
1.2.1 Dewan Komisaris melakukan evaluasi formal tahunan secara Poin 1.2.1 - 1.2.2 / Points 1.2.1 - 1.2.2
obyektif dan independen untuk menentukan efektivitas Direksi dan
setiap individu Direktur.
Terpenuhi / Complied
The Board of Commissioners conducts formal annual evaluations
objectively and independently to determine the effectiveness of the Dewan Komisaris telah melakukan evaluasi formal tahunan
Board of Directors and each individual Director. secara obyektif dan independen untuk menentukan efektivitas
Direksi dan setiap individu direktur sesuai Board Manual Bab
1.2.2 Dewan Komisaris dengan pertimbangan Komite Nominasi dan
III Nomor 3.20 yang mengatur bahwa Direksi dan Dewan
Remunerasi, bertanggung jawab menentukan kriteria evaluasi
Komisaris Perusahaan mengimplementasikan Key Performance
kinerja dan menilai kinerja Direktur Utama dan anggota Direksi
Index (KPI), dan melakukan penilaian kinerja Direksi sesuai
lainnya.
dengan pencapaian KPI Direksi yang dilaporkan dalam Rapat
Umum Pemegang Saham (RUPS). Penilaian kinerja Direksi
The Board of Commissioners, with consideration from the Nomination
dilaksanakan setiap tahun.
and Remuneration Committee, is responsible for determining
performance evaluation criteria and assessing the performance of
Uraian penilaian dapat dilihat pada halaman 344-345 tentang
the President Director and other members of the Board of Directors.
Penilaian Terhadap Kinerja Direksi dan Perseroan pada Laporan
Tahunan 2025 .
The Board of Commissioners carries out an independent and
objective annual formal evaluation to assess the effectiveness
of the Board of Directors and each individual director. This
process follows Chapter III, Section 3.20 of the Board Manual,
which requires both the Board of Directors and the Board of
Commissioners to implement Key Performance Indicators (KPIs)
and evaluate the Board of Directors based on their achievement.
The results of this evaluation are reported at the General Meeting
of Shareholders (GMS). Performance assessments of the Board
of Directors are conducted on an annual basis.
Details of the assessment are presented on page 344-345,
under the section “Assessment of the Performance of the Board
of Directors and the Company” in the 2025 Annual Report.
PT Pertamina Geothermal Energy Tbk
Page 495
Laporan Tahunan 2025 | 2025 Annual Report 493
Nomor Rekomendasi Penjelasan dan Pelaksanaan
No. Recommendation Explanation and Implementation
1.3 Peran dan Tanggung Jawab Dewan Komisaris | Duties and Responsibilities of the Board of Commissioners
1.3.1 Dewan Komisaris mereview strategi korporasi paling tidak Poin 1.3.1 - 1.3.13 / Points 1.3.1 - 1.3.13
setiap tahun dan menyetujui misi, visi dan strategi korporasi
yang dirumuskan oleh Direksi. Dewan Komisaris juga mereview,
memberikan saran dan menyetujui rencana bisnis dan rencana Terpenuhi / Complied
keuangan jangka panjang dan rencana keuangan jangka pendek
korporasi. Dewan Komisaris memberikan advis dan melakukan Dewan Komisaris telah menjalankan peran dan tanggung
pemantauan kepada Direksi atas pengelolaan implementasinya. jawabnya untuk melakukan review serta menyetujui visi, misi
Direksi dan Dewan Komisaris terlibat dalam keputusan yang sangat dan strategi Perusahaan yang dirumuskan oleh Direksi.
penting bagi korporasi, diatur dalam anggaran dasar korporasi. Selain itu, Dewan Komisaris juga melakukan review, memberi
saran, serta menyetujui rencana keuangan jangka pendek dan
The Board of Commissioners reviews the Company’s strategy at least jangka panjang Perusahaan.
annually and approves the mission, vision, and Corporate strategy
developed by the Board of Directors. The Board of Commissioners Sebagai bagian dari tugas pengawasan, secara berkala Dewan
also reviews, provides advice, and approves the Company’s Komisaris memberikan saran dan melakukan pemantauan
business plans, long-term financial plans, and short-term financial pengelolaan yang dilakukan oleh Direksi. Direksi dan Dewan
plans. The Board of Commissioners provides advice and monitors Komisaris juga terlibat dalam keputusan yang sangat penting
the Board of Directors implementing management activities. The bagi Perusahaan, yang diatur dalam Anggaran Dasar
Board of Directors and the Board of Commissioners are involved in Perusahaan. Peran dan tanggung jawab Dewan Komisaris telah
key decisions for the Corporation, as regulated in the Company’s dijelaskan di dalam Pasal 19 Anggaran Dasar PGE dan Board
Articles of Association. Manual Bab II Nomor 2.14 tentang Tugas dan Kewajiban
Dewan Komisaris.
The Board of Commissioners fulfills its role by reviewing and
approving the Company’s vision, mission, and strategies as
developed by the Board of Directors. Additionally, the Board of
Commissioners examines, advises on, and approves both short-
term and long-term Company’s financial plans.
In its supervisory role, the Board of Commissioners periodically
provides guidance and monitors the management activities
carried out by the Board of Directors. Both the Board of Directors
and the Board of Commissioners also participate in decisions
that are critical to the Company, as outlined in the Company’s
Articles of Association. The duties and responsibilities of the
Board of Commissioners are outlined in Article 19 of PGE’s
Articles of Association and in Chapter II, Section 2.14 of the
Board Manual, which addresses the Duties and Obligations of
the Board of Commissioners.
Board Manual dapat diakses melalui situs web:
The Board Manual can be accessed through the website:
h t t p s : / / w w w. p g e . p e r t a m i n a . c o m / M e d i a / U p l o a d s /
keberlanjutan/file/Board%20Manual%202023_.pdf
1.3.2 Jenis keputusan yang memerlukan persetujuan Dewan Komisaris
harus diungkapkan dalam laporan tahunan.
The types of decisions that require approval from the Board of
Commissioners must be disclosed in the Annual Report.
1.3.3 Dengan memperhatikan rekomendasi Komite Nominasi dan
Remunerasi, Dewan Komisaris mengusulkan kepada, dan untuk
diputuskan oleh, RUPS pengangkatan dan/atau pemberhentian
anggota Direksi dan anggota Dewan Komisaris. Dalam mengusulkan
hal di atas, Dewan Komisaris memperhatikan keberagaman, unsur
non diskriminatif dan memberikan kesempatan yang sama tanpa
membedakan suku, agama, ras, antar golongan dan gender.
Dewan Komisaris memastikan proses pencalonan dan pemilihan
anggota Direksi dan anggota Dewan Komisaris adalah formal dan
transparan.
Based on the recommendations of the Nomination and Remuneration
Committee, the Board of Commissioners proposes to, and is decided
by, the GMS the appointment and/or dismissal of members of the
Board of Directors and members of the Board of Commissioners. In
making these proposals, the Board of Commissioners pays considers
diversity, non-discriminatory factors, and provides equal opportunities
regardless of ethnicity, religion, race, group, and gender. The Board
of Commissioners ensures that the nomination and election process
for members of the Board of Directors and members of the Board of
Commissioners is conducted formally and transparently.
PT Pertamina Geothermal Energy Tbk
Page 496
494 Laporan Tahunan 2025 | 2025 Annual Report
Nomor Rekomendasi Penjelasan dan Pelaksanaan
No. Recommendation Explanation and Implementation
1.3.4 Dewan Komisaris atau Komite yang menjalankan fungsi nominasi
menyusun kebijakan suksesi dalam proses nominasi anggota Direksi.
Setiap tahun Dewan Komisaris meninjau laporan pelaksanaan
rencana pengembangan dan suksesi yang disampaikan Direktur
Utama.
The Board of Commissioners or the Committee that carries out the
nomination function prepares a succession policy in the nomination
process for members of the Board of Directors. Every year the Board
of Commissioners reviews the development and succession plan
implementation report submitted by the President Director.
1.3.5 Dewan Komisaris:
a. Mengajukan kepada RUPS, yang dapat didahului oleh usulan
dari Komite yang menjalankan fungsi remunerasi, besaran
remunerasi anggota Direksi dan anggota Dewan Komisaris yang
selaras dengan pengembangan korporasi yang berkelanjutan
dan kepentingan jangka panjang korporasi dan pemegang
saham;
b. Secara berkala mereview sistem remunerasi Direksi dan Dewan
Komisaris.
The Board of Commissioners
a. Propose to the GM, which may be preceded by a recommendation
from the Committee responsible for remuneration, the
remuneration for members of the Board of Directors and Board
of Commissioners, aligned with sustainable company growth and
the long-term interests of the Company and its shareholders.
b. Conduct periodic reviews of the remuneration system for the
Board of Directors and Board of Commissioners.
1.3.6 Dewan Komisaris mengawasi efektivitas kebijakan governansi
korporat dan implementasinya serta mengusulkan perubahan jika
diperlukan.
The Board of Commissioners oversees the effectiveness of Corporate
governance policies and their implementation and proposes changes
if necessary.
1.3.7 Dewan Komisaris memantau dan mengarahkan agar korporasi
menerapkan manajemen risiko dan sistem pengendalian internal
yang tepat dan efektif yang selaras dengan tujuan, sasaran, dan
strategi korporasi serta mematuhi peraturan perundang- undangan,
kode perilaku dan standar yang berlaku.
The Board of Commissioners oversees and guides the Corporation
in implementing appropriate and effective risk management and
internal control systems that align with Corporate goals, targets,
and strategies, while ensuring compliance with applicable laws,
regulations, codes of conduct, and standards.
1.3.8 Dewan Komisaris mengawasi dan mengarahkan agar tercapai
integrasi akuntansi dan sistem pelaporan keuangan korporat, serta
independensi fungsi audit internal dan eksternal.
The Board of Commissioners oversees and guides the integration of
accounting and Corporate financial reporting systems, while ensuring
the independence of both internal and external audit functions.
1.3.9 Dewan Komisaris memantau, mereview dan menyetujui laporan
tahunan dan laporan keberlanjutan Korporasi serta memastikan
integritasnya, serta mengawasi proses pengungkapan dan
pengkomunikasian korporasi.
The Board of Commissioners monitors, reviews, and approves the
Corporation’s Annual Report and Sustainability Report, ensuring their
integrity, and oversees the Corporate disclosure and communication
process.
1.3.10 Piagam Dewan Komisaris secara periodik ditinjau.
The Board of Commissioners’ Charter is reviewed periodically.
PT Pertamina Geothermal Energy Tbk
Page 497
Laporan Tahunan 2025 | 2025 Annual Report 495
Nomor Rekomendasi Penjelasan dan Pelaksanaan
No. Recommendation Explanation and Implementation
1.3.11 Dewan Komisaris mempunyai kebijakan terkait pengunduran
diri anggota Dewan Komisaris apabila terlibat dalam kejahatan
keuangan dan terbukti melakukan kesalahan.
The Board of Commissioners has established a policy regarding
the resignation of members of its members if they are involved in
financial crimes and found to be at fault.
1.3.12 Komisaris Independen sangat diharapkan untuk dapat berkontribusi
dalam diskusi yang jujur, obyektif, aktif dan konstruktif pada rapat
Dewan Komisaris.
Independent Commissioners are highly expected to contribute to
Board of Commissioners meetings through honest, objective, active,
and constructive discussions.
1.3.13 Komisaris Utama berperan sebagai koordinator Dewan Komisaris
dan memastikan efektivitasnya. Komisaris Utama mendorong
budaya keterbukaan dan dialog konstruktif yang memungkinkan
berbagai pandangan diungkapkan, termasuk mengkoordinasi
penetapan agenda rapat dewan yang tepat dan memastikan waktu
yang cukup tersedia untuk mendiskusikan semua agenda. Selain itu,
juga harus ada kesempatan bagi Dewan Komisaris untuk bertemu
dengan jajaran Direksi dan manajemen senior.
The President Commissioner serves as the coordinator of the Board
of Commissioners and ensures its effectiveness. The President
Commissioner encourages a culture of openness and constructive
dialogue, allowing diverse viewpoints, including coordinating
the setting of appropriate board meeting agendas, and ensuring
sufficient time to discuss all agenda items. Additionally, opportunities
must be provided for the Board of Commissioners to meet with the
Board of Directors and senior management.
1.4 Pembentukan Komite/Establishment of Committees
1.4.1 Korporasi memiliki komite-komite di bawah Dewan Komisaris Poin 1.4.1 - 1.4.3 / Point 1.4.1-1.4.3
sekurang-kurangnya terdiri dari: Komite Audit, Komite Nominasi dan Terpenuhi / Complied
Remunerasi dan Komite Pemantau Manajemen Risiko.
Dewan Komisaris Perusahaan dalam melakukan tugas
The Corporation has established committees under the Board of pengawasannya dibantu oleh 3 (tiga) Komite yaitu:
Commissioners, whcih include at a minimum: the Audit Committee, • Komite Audit
the Nomination and Remuneration Committee, and the Risk • Komite Nominasi dan Remunerasi
Management Monitoring Committee. • Komite Investasi & Manajemen Risiko
Dewan Komisaris memastikan bahwa seluruh anggota Komite
mayoritas berasal dari pihak independen, serta memiliki
kompetensi, komitmen, dan wewenang yang memadai untuk
menjalankan perannya secara efektif dan independen.
Uraian lebih detail dapat dilihat pada halaman 298-324
tentang Komite-Komite pada Laporan Tahunan 2025 .
In performing its supervisory functions, the Company’s Board of
Commissioners is supported by three committees:
• Audit Committee
• Nomination and Remuneration Committee
• Investment & Risk Management Committee
The Board of Commissioners ensures that the majority of
committee members are independent and have the competence,
commitment, and authority to perform their roles effectively and
independently.
Further details can be found on page 298-324, under the
section on Committees, in the 2025 Annual Report.
PT Pertamina Geothermal Energy Tbk
Page 498
496 Laporan Tahunan 2025 | 2025 Annual Report
Nomor Rekomendasi Penjelasan dan Pelaksanaan
No. Recommendation Explanation and Implementation
1.4.2 Dewan Komisaris memastikan bahwa anggota Komite Audit
seluruhnya independen dan komite lain yang dibentuk Dewan
Komisaris adalah mayoritas dari pihak independen, serta semua
anggota komite memiliki kompetensi, berkomitmen, serta memiliki
wewenang yang memadai untuk menjalankan perannya secara
efektif dan independen.
The Board of Commissioners ensures that all members of the Audit
Committee are independent, and that the majority of members in
other committees established by the Board of Commissioners are
independent, and that all committee members are competent,
committed, and have sufficient authority to perform their roles
effectively and independently.
1.4.3 Untuk memastikan pemantauan atas pelaksanaan tugas Komite
Audit berjalan objektif dan independen, Komisaris Utama tidak
boleh menjadi ketua Komite Audit, kecuali dalam keadaan luar
biasa yang harus dijelaskan dalam laporan tahunan.
To ensure objective and independent oversight of the Audit
Committee’s duties, the President Commissioner may not serve as
the chairperson of the Audit Committee, except in extraordinary
circumstances, which must be disclosed in the annual report.
Penilaian Kinerja - Dewan Komisaris dan Anggotanya
1.5
Performance Assessment – the Board of Commissioners and Members
1.5.1 Dewan Komisaris melakukan evaluasi formal tahunan secara Poin 1.5.1 / Point 1.5.1
obyektif untuk menentukan efektivitas Dewan, komitenya, dan setiap Terpenuhi / Complied
individu komisaris.
Penilaian kinerja Dewan Komisaris dilaksanakan setiap tahun.
The Board of Commissioners conducts an annual formal evaluation Selain itu, PGE telah mengatur penilaian atau evaluasi kinerja
in an objective manner to determine the effectiveness of the Board, Dewan Komisaris di dalam Board Manual Bab II Nomor 2.17
its committees and each individual commissioner. tentang Evaluasi Kinerja Dewan Komisaris.
Uraian penilaian kinerja tahun 2025 dapat dilihat pada
halaman 295-297 tentang Penilaian Terhadap KPI Dewan
Komisaris pada Laporan Tahunan 2025
The performance of the Board of Commissioners is evaluated
annually. PGE has outlined the procedures of the Board of
Commissioners’evaluation in Chapter II, Section 2.17 of the
Board Manual, which covers the Performance Evaluation of the
Board of Commissioners.
Details of the 2025 performance assessment are provided
on page 295-297, under “Evaluation of the Board of
Commissioners’ KPIs” in the 2025 Annual Report.
Board Manual dapat diakses melalui situs web:
The Board Manual can be accessed through the website:
h t t p s : / / w w w. p g e . p e r t a m i n a . c o m / M e d i a / U p l o a d s /
keberlanjutan/file/Board%20Manual%202023_.pdf
PT Pertamina Geothermal Energy Tbk
Page 499
Laporan Tahunan 2025 | 2025 Annual Report 497
Nomor Rekomendasi Penjelasan dan Pelaksanaan
No. Recommendation Explanation and Implementation
1.6 Benturan Kepentingan/Conflicts of Interest
1.6.1 Anggota Direksi yang mempunyai rangkap jabatan di luar Poin 1.6.1 - 1.6.2 / Point 1.6.1-1.6.2
korporasi, harus mendapatkan persetujuan dari Dewan Komisaris. Terpenuhi / Complied
Seorang Komisaris memberi tahu Dewan Komisaris dan ketua komite
yang menjalankan fungsi nominasi, sebelum menerima penunjukan PGE telah mengatur kebijakan terkait larangan rangkap
baru sebagai direktur atau komisaris dari korporasi terbuka, jabatan jabatan bagi Direksi PGE dalam melaksanakan tugas dan
direktur lainnya atau posisi lain dengan komitmen waktu yang kewenangannya, antara lain:
signifikan. 1. Pasal 14 Ayat 17 Anggaran Dasar PGE mengatur
larangan mengenai rangkap jabatan Anggota Direksi yang
Members of the Board of Directors who hold concurrent positions mempunyai rangkap jabatan di luar Perusahaan;
outside the Corporation must obtain approval from the Board of 2. Code of Conduct PGE Bab IV huruf B angka 5 mengatur
Commissioners. A Commissioner notifies the Board of Commissioners terkait benturan kepentingan dan larangan penyalahgunaan
and the chair of the committee responsible for the nomination function jabatan yang dapat diakses melalui situs web:
before accepting a new appointment as a director or commissioner https://www.pge.per tamina.com/Media/Uploads/
of a publicly listed company, or any other directorship or position keberlanjutan/file/Code_of_Conduct_-_PGEO%20update.
that requires a significant time commitment. pdf;
3. Board Manual Bab II Nomor 2.4 dan Bab III Nomor 3.4
yang mengatur larangan benturan kepentingan dalam hal
ini rangkap jabatan yang dapat diakses melalui situs web:
https://www.pge.per tamina.com/Media/Uploads/
keberlanjutan/file/Board%20Manual%202023_.pdf ; dan
4. Seluruh Dewan Komisaris dan Direksi telah menandatangani
Surat Pernyataan Komitmen Tidak Berbenturan Kepentingan
dalam menjalankan tugas dan kewenangannya.
Pedoman Pengelolaan Program Compliance Nomor A-002/
PGE600/2025-S9 jo. Tata Kelola Individu Nomor C-001/
PGE600/2025-S9 tentang Pelaporan, Pelaksanaan Monitoring,
dan Penanganan Benturan Kepentingan.
PGE has established policies regarding the prohibition of
concurrent positions for members of the Board of Directors
while performing their duties and exercising their authorities,
as follows:
1. Article 14, Paragraph 17 of PGE’s Article of Association,
which prohibits Board of Directors members from holding
concurrent positions outside the Company.
2. Chapter IV, Letter B, Number 5 of the Code of Conduct, which
addresses conflicts of interest and prohibition of abuse of
power. The Code of Conduct can be accessed here: https://
www.pge.pertamina.com/Media/Uploads/keberlanjutan/
file/Code_of_Conduct_-_PGEO%20update.pdf
3. Chapter II, Section 2.4, and Chapter III, Section 3.4, of
the Board Manual regulate the prohibition of conflicts of
interest, including concurrent positions. The Board Manual
is available at: https://www.pge.pertamina.com/Media/
Uploads/keberlanjutan/file/Board%20Manual%202023_.
pdf
4. All members of the Board of Commissioners and Board of
Directors have signed a Statement of Commitment to No
Conflict of Interest in carrying out their responsibilities.
These policies are further guided by the Compliance Program
Management Guidelines No. A-002/PGE600/2025-S9, in
conjunction with the Individual Governance Guidelines No.
C-001/PGE600/2025-S9 concerning the reporting, monitoring,
and handling of conflicts of interest.
PT Pertamina Geothermal Energy Tbk
Page 500
498 Laporan Tahunan 2025 | 2025 Annual Report
Nomor Rekomendasi Penjelasan dan Pelaksanaan
No. Recommendation Explanation and Implementation
1.6.2 Dewan Komisaris memantau dan mengelola potensi benturan
kepentingan manajemen, anggota Direksi, Dewan Komisaris dan
pemegang saham, termasuk penyalahgunaan aset korporasi dan
penyalahgunaan dalam transaksi pihak berelasi. Komisaris yang
memiliki benturan kepentingan tidak turut serta dalam pemantauan
dan pengambilan keputusan atas potensi benturan kepentingan yang
melibatkan Komisaris atau afiliasi Komisaris yang bersangkutan.
The Board of Commissioners monitors and manages potential conflicts
of interest of management, members of the Board of Directors, the
Board of Commissioners, and shareholders, including the misuse
of Corporate assets and related party transactions. Commissioners
who have a conflict of interest do not participate in monitoring and
making decisions related to potential conflicts of interest involving the
Commissioners or their affiliates.
1.7 Peningkatan Kompetensi Anggota Direksi dan Dewan Komisaris
Competence Improvement for Members of the Board of Directors and the Board of Commissioners
1.7.1 Dewan Komisaris memastikan bahwa anggota Direksi dan Poin 1.7.1 / Poin 1.7.1
Dewan Komisaris memahami peran dan tanggung jawab mereka, Terpenuhi / Complied
karakteristik dan operasi korporasi, peraturan perundang-undangan
dan standar yang relevan serta kewajiban lain yang berlaku. Direksi Dalam rangka mendukung pelaksanaan tugas dan fungsi Dewan
melalui sekretaris korporasi mendukung semua anggota Direksi Komisaris dan Direksi, PGE mendukung upaya meningkatkan
dan Dewan Komisaris dalam memperbarui dan menyegarkan kompetensi sebagaimana dijelaskan secara detail pada
keterampilan dan pengetahuan mereka yang diperlukan untuk halaman 112-116 tentang Program Pelatihan Dalam Rangka
menjalankan peran mereka di Dewan. Meningkatkan Kompetensi Dewan Komisaris dan Direksi pada
Laporan Tahunan 2025.
The Board of Commissioners ensures that members of the Board
of Directors and the Board of Commissioners understand their To strengthen the implementation of the Board of Commissioners
roles and responsibilities, the Corporation’s characteristics and and the Board of Directors’ duties and functions, PGE facilitates
operations, relevant laws and regulations, and standards, as well competency development for the Board of Commissioners and
as other applicable obligations. The Board of Directors, through the the Board of Directors. Further details can be found on page
Corporate secretary, supports all members of the Board of Directors 112-116, under “Training Program to Improve the Competence
and the Board of Commissioners in updating and refreshing their of the Board of Commissioners and Board of Directors” in the
skills and knowledge necessary to perform their duties. 2025 Annual Report.
Prinsip 2 / Principle 2
Komposisi Dan Remunerasi Direksi Dan Dewan Komisaris
Composition And Remuneration Of The Board Of Directors And The Board Of Commissioners
Komposisi Direksi dan Dewan Komisaris
2.1
Composition of the Board of Directors and the Board of Commissioners
2.1.1 Dalam menentukan calon anggota Direksi, Dewan Komisaris melalui Poin 2.1.1-2.1.8 / Point 2.1.1-2.1.8
Komite Nominasi dan Remunerasi tidak hanya mengandalkan Terpenuhi / Complied
rekomendasi dari Dewan Komisaris, manajemen atau pemegang
saham mayoritas. Dewan Komisaris melalui Komite Nominasi Dalam menentukan calon anggota Direksi, Dewan Komisaris
dan Remunerasi dapat menggunakan sumber independen untuk melalui Komite Nominasi dan Remunerasi dapat melakukan
menentukan kandidat yang memenuhi syarat. penjaringan talenta kandidat dan berkonsultasi dengan
pemangku kepentingan untuk selanjutnya diusulkan dalam
In selecting prospective Director candidates, the Board of RUPS.
Commissioners, through the Nomination and Remuneration
Committee, does not only rely on recommendations from the Board Dewan Komisaris memastikan bahwa kriteria dalam menyeleksi
of Commissioners, management, or majority shareholders. The anggota Direksi mencakup pengetahuan, kompetensi dan
Board of Commissioners, through the Nomination and Remuneration keahlian yang dibutuhkan untuk memenuhi secara tepat peran
Committee, may also use independent sources to identify candidates Direksi, serta memperhatikan terpenuhinya keberagaman
who meet the required qualifications. Direksi yang dapat dilihat pada halaman 362 Tentang
Komposisi Direksi pada Bab Tata Kelola Perusahaan di Laporan
Tahunan 2025.
In identifying prospective candidates for the Board of Directors,
the Board of Commissioners, through the Nomination and
Remuneration Committee, may carry out a talent sourcing
process and consult with relevant stakeholders before submitting
the proposed candidates to the GMS.
The Board of Commissioners also ensures that the selection
criteria for members of the Board of Directors include the
knowledge, competencies, and expertise necessary to effectively
perform the duties of the Board of Directors, while maintaining
diversity within the Board of Directors. Further details can be
found on page 362 regarding the Composition of the Board
of Directors in the Corporate Governance Chapter of the 2025
Annual Report.
PT Pertamina Geothermal Energy Tbk
Page 501
Laporan Tahunan 2025 | 2025 Annual Report 499
Nomor Rekomendasi Penjelasan dan Pelaksanaan
No. Recommendation Explanation and Implementation
2.1.2 Dewan Komisaris memastikan bahwa kriteria dalam menyeleksi
anggota Direksi mencakup paling tidak pengetahuan, kompetensi
dan keahlian yang dibutuhkan untuk memenuhi secara tepat peran
Direksi serta memperhatikan terpenuhinya keberagaman Direksi.
The Board of Commissioners ensures that the criteria for selecting
members of the Board of Directors include, at a minimum, the
knowledge, skills, and expertise required to effectively fulfill their
roles, while also considering the fulfillment of the diversity of the
Board of Directors.
2.1.3 Kebijakan korporasi tentang keberagaman pada, Direksi dan
Dewan Komisaris diungkapkan dalam Laporan Tahunan.
Corporate policies on diversity within the Board of Directors and the
Board of Commissioners are disclosed in the Annual Report.
2.1.4 Dewan Komisaris memastikan bahwa kebijakan dan prosedur
untuk seleksi dan nominasi Komisaris adalah jelas dan transparan
sehingga dapat menghasilkan komposisi Dewan yang diinginkan.
Dewan Komisaris menggunakan sumber independen untuk
menentukan kandidat yang memenuhi syarat.
The Board of Commissioners ensures that the policies and
procedures for selecting and nominating Commissioners are clear
and transparen to achieve a desired Board composition. The Board
of Commissioners uses independent sources to identify qualified
candidates.
2.1.5 Dewan Komisaris/Komite yang menjalankan fungsi nominasi
menetapkan prosedur dan kriteria nominasi yang konsisten dengan
matriks keahlian Dewan Komisaris yang telah disetujui Dewan
Komisaris dan memastikan bahwa profil kandidat memenuhi
persyaratan yang ditetapkan dalam matriks keahlian dan kriteria
nominasi.
The Board of Commissioners/Committee responsible for the
nomination function, determines nomination procedures and criteria
that align with the Board of Commissioners’ skills matrix, which has
been approved by the Board of Commissioners. This process ensures
that the prospective candidate profile meets the qualifications
outlined in the skills matrix and nomination criteria.
2.1.6 Komposisi Dewan Komisaris harus dibentuk sedemikian rupa
sehingga anggota-anggotanya secara kelompok mencerminkan
keberagaman dalam hal kemampuan, keahlian, pengetahuan,
pengalaman, usia, latar belakang budaya, dan jender yang
dibutuhkan untuk memenuhi secara tepat peran Dewan Komisaris.
The composition of the Board of Commissioners should be structured
so that, collectively, its members represent divers capabilities,
including a range of skills, knowledge, experience, age, cultural
backgrounds, and gender, enabling the Board of Commissioners to
effectively carry out its responsibilities.
2.1.7 Untuk memampukan Dewan Komisaris dalam memberikan advis dan
supervisi secara independen kepada Direksi dan untuk peran-peran
yang terdapat potensi benturan kepentingan, Dewan Komisaris
terdiri dari Komisaris Independen yang cukup jumlahnya, dengan
masa jabatan yang dibatasi dan terdapat pengungkapan Jangka
waktu keanggotaan Dewan Komisaris serta independensi mereka
dari sudut pandang korporasi.
To ensure that the Board of Commissioners can provide independent
advice and supervision to the Board of Directors, and for roles where
there is a potential conflict of interest, the Board of Commissioners
consists of a sufficient number of Independent Commissioners, with
limited terms of office and disclosure of the term of membership of the
Board of Commissioners and their independence from a Corporate
perspective.
PT Pertamina Geothermal Energy Tbk
Page 502
500 Laporan Tahunan 2025 | 2025 Annual Report
Nomor Rekomendasi Penjelasan dan Pelaksanaan
No. Recommendation Explanation and Implementation
2.1.8 Untuk memfasilitasi fungsi Direksi dan Dewan Komisaris yang efektif
dan guna meningkatkan kepercayaan investor dan pemangku
kepentingan, Komite Nominasi dan Remunerasi memastikan bahwa
terdapat proses yang formal, ketat dan transparan untuk penunjukan
dan pengangkatan anggota Direksi dan Dewan Komisaris.
To support the effective functioning of the Board of Directors and the
Board of Commissioners and to increase investor and stakeholder
trust, the Nomination and Remuneration Committee ensures the
implementation of a formal, strict, and transparent process for the
designation and appointment of members of the Board of Directors
and the Board of Commissioners.
2.2 Remunerasi Direksi dan Dewan Komisaris
Remuneration of the Board of Directors and the Board of Commissioners
2.2.1 Kebijakan remunerasi anggota Direksi terdiri atas struktur Poin 2.2.1 - 2.2.3 / Point 2.2.1-2.2.3
remunerasi yang berorientasi pada pengembangan korporasi yang Terpenuhi / Complied
berkelanjutan dan mendorong pencapaian tujuan jangka panjang.
Remunerasi Direksi harus diusulkan, dapat dengan melalui Komite Pedoman penetapan gaji/honorarium bagi Direksi dan Dewan
Nominasi dan Remunerasi, oleh Dewan Komisaris untuk diputuskan Komisaris mengacu pada:
oleh RUPS. Jumlah remunerasi yang diusulkan kepada RUPS tersebut 1. Pasal 14 Anggaran Dasar PGE;
ditetapkan dengan mempertimbangkan peran setiap anggota 2. Peraturan Menteri Badan Usaha Milik Negara Nomor:
Direksi dan situasi ekonomi serta kinerja korporasi. PER-3 /MBU/03/2023 tentang Organ dan Sumber Daya
Manusia Badan Usaha Milik Negara;
The remuneration policy for members of the Board of Directors 3. Surat Direktur Utama PT Pertamina Geothermal Energy Tbk
consists of a remuneration structure that is oriented towards No. R-006/PGE000/2024-SS tanggal 19 Maret 2024
sustainable Corporate development and encourages the achievement perihal Usulan Penetapan Remunerasi Tahun 2024 dan
of long-term goals. Proposals regarding Directors’ remuneration are Tantiem Tahun 2023 Bagi Direksi dan Dewan Komisaris PT
submitted by the Board of Commissioners, through the Nomination Pertamina Geothermal Energy Tbk; dan
and Remuneration Committee, for approval at the GMS. The 4. Surat Komite Nominasi dan Remunerasi No. R-014/
proposed remuneration amount takes into account the responsibilities KNR/DK/PGE/2024-S0 Tanggal 22 Maret 2024 perihal
of each member of the Board of Directors, as well as the economic Penetapan Remunerasi 2023 dan Tantiem 2022 Bagi Direksi
conditions and the Company’s performance. dan Dewan Komisaris PT PGE Tbk.
The determination of salaries or honorariums for the Board
of Directors and the Board of Commissioners is based on the
following guidelines:
1. Article 14 of PGE’s Articles of Association;
2. Regulation of the Minister of State-Owned Enterprises
Number PER-3/MBU/03/2023 regarding the Organs and
Human Resources of State-Owned Enterprises;
3. Letter from the President Director of PT Pertamina Geothermal
Energy Tbk No. R-006/PGE000/2024-SS dated March 19,
2024, regarding the Proposal for Determining the 2024
Remuneration and 2023 Tantiem for the Board of Directors
and Board of Commissioners of PT Pertamina Geothermal
Energy Tbk; and
4. Letter from the Nomination and Remuneration Committee
No. R-014/KNR/DK/PGE/2024-S0 dated March 22,
2024, regarding the Determination of 2023 Remuneration
and 2022 Tantiem for the Board of Directors and Board of
Commissioners of PT PGE Tbk.
PT Pertamina Geothermal Energy Tbk
Page 503
Laporan Tahunan 2025 | 2025 Annual Report 501
Nomor Rekomendasi Penjelasan dan Pelaksanaan
No. Recommendation Explanation and Implementation
2.2.2 Kebijakan remunerasi anggota Dewan Komisaris terdiri atas struktur
remunerasi yang berorientasi pada pengembangan korporasi
yang berkelanjutan dan mendorong pencapaian tujuan jangka
panjang. Jumlah remunerasi yang diusulkan Dewan Komisaris
kepada RUPS tersebut ditetapkan dengan mempertimbangkan peran
setiap anggota Dewan Komisaris dan situasi ekonomi serta kinerja
korporasi. Di samping itu juga harus dipertimbangkan posisinya
sebagai Komisaris Utama dan ketua serta keanggotaannya dalam
komite-komite.
The remuneration policy for members of the Board of Commissioners
consists of a remuneration structure that is oriented toward sustainable
Corporate development and encourages the achievement of long-
term goals. The amount of remuneration proposed by the Board of
Commissioners to the GMS is determined by taking into account the
responsibilities of each member of the Board of Commissioners, as
well as the economic conditions and the Company’s performance. In
addition, consideration must also be given to the position as President
Commissioner, chairperson, as well as membership in committees.
2.2.3 Untuk memastikan bahwa paket remunerasi ditentukan berdasarkan
prestasi, kualifikasi dan kompetensi Direktur dan Komisaris dengan
memperhatikan kinerja operasi korporasi, kinerja individu dan
kondisi pasar, Komite Nominasi dan Remunerasi memastikan bahwa
terdapat prosedur yang adil dan transparan untuk menetapkan
kebijakan remunerasi anggota Direksi dan Dewan Komisaris.
To ensure that remuneration packages are determined based
on the achievements, qualifications, and competencies of the
Directors and Commissioners, while considering the Company’s
operational performance, individual performance, and market
conditions, the Nomination and Remuneration Committee ensures
the implementation of fair and transparent procedures in determining
remuneration policies for members of the Board of Directors and the
Board of Commissioners.
Prinsip 3 / Principle 3
Hubungan Kerja Antara Direksi Dan Dewan Komisaris
Working Relationship Between The Board Of Directors And The Board Of Commissioners
3.1 Sifat Hubungan Kerja / Nature of the Working Relationship
3.1.1 Terdapat diskusi yang terbuka antara Direksi dengan Dewan Poin 3.1.1-3.1.3 / Point 3.1.1-3.1.3
Komisaris serta di antara para anggota Direksi dan para anggota Terpenuhi / Complied
Dewan Komisaris. Namun, tetap penting menjaga kerahasiaan
informasi agar tidak terjadi kebocoran informasi rahasia. Diskusi antara Direksi dengan Dewan Komisaris dilakukan
melalui Rapat Gabungan Dewan Komisaris dan Direksi dengan
There are open discussions between the Board of Directors and tetap menjaga kerahasiaan informasi. Rapat Gabungan dapat
the Board of Commissioners, including among individual members dilihat di Laporan Tahunan 2025 pada halaman 50-51 Bab
of both the Board of Directors and the Board of Commissioners. Laporan Manajemen dan halaman 287-291 Bab Tata Kelola
Nevertheless, the confidentiality of information must always be tentang Rapat Dewan Komisaris dan Rapat Gabungan Dewan
maintained to prevent the disclosure of sensitive or confidential Komisaris dan Direksi. Rapat Gabungan Dewan Komisaris
information. dengan Direksi (minimal 1 kali dalam 4 bulan ).
Hal tersebut telah sesuai dengan Pasal 31 ayat 3 Peraturan
Otoritas Jasa Keuangan Nomor: 33/POJK.04/2014 tentang
Direksi dan Dewan Komisaris Emiten atau Perusahaan Publik,
serta ketentuan Pasal 16 Ayat 3 Anggaran Dasar PGE.
Discussions between the Board of Directors and the Board of
Commissioners are conducted through Joint Meetings of the
Board of Commissioners and the Board of Directors while
ensuring the confidentiality of information. Details regarding
these Joint Meetings are presented in the 2025 Annual Report
on page 50-51 of the Management Report Chapter and page
287-291 of the Governance Chapter under the section on Board
of Commissioners Meetings and Joint Meetings of the Board of
Commissioners and the Board of Directors. The Joint Meetings of
the Board of Commissioners and the Board of Directors are held
at least once every four months.
This practice is in accordance with Article 31 paragraph
(3) of Financial Services Authority Regulation Number 33/
POJK.04/2014 concerning the Board of Directors and the
Board of Commissioners of Issuers or Public Companies, as well
as Article 16 paragraph (3) of PGE’s Articles of Association.
PT Pertamina Geothermal Energy Tbk
Page 504
502 Laporan Tahunan 2025 | 2025 Annual Report
Nomor Rekomendasi Penjelasan dan Pelaksanaan
No. Recommendation Explanation and Implementation
3.1.2 Sesuai dengan tugas dan perannya masing-masing, Direksi
bekerja sama dengan Dewan Komisaris dalam merumuskan
misi, visi dan strategi korporasi dan secara reguler membahas
pengimplementasiannya.
In line with their respective duties and responsibilities, the Board of
Directors collaborates with the Board of Commissioners in developing
the Company’s mission, vision, and strategy, and regularly discusses
their implementation.
3.1.3 Sekretaris Korporasi memiliki peran penting dalam mendukung
efektivitas hubungan kerja antara Direksi dengan Dewan komisaris,
mendorong implementasi praktik governansi korporat yang baik,
termasuk komunikasi yang efektif dengan pemegang saham dan
pemangku kepentingan lainnya.
The Corporate Secretary plays an important role in supporting
the effectiveness of the working relationship between the Board
of Directors and the Board of Commissioners, encouraging the
implementation of good Corporate governance practices, including
effective communication with shareholders and other stakeholders.
3.2 Akses Informasi Dewan Komisaris/Access to Information of the Board of Commissioners
3.2.1 Direksi bertanggung jawab untuk memastikan Dewan Komisaris Poin 3.2.1 / Point 3.2.1
mendapatkan akses informasi yang akurat, relevan dan tepat Terpenuhi / Complied
waktu. Dewan Komisaris sendiri memastikan bahwa ia memperoleh
informasi yang memadai. Direksi menyediakan informasi kepada Direksi memastikan Dewan Komisaris mendapatkan akses
Dewan Komisaris secara teratur, tanpa penundaan dan secara informasi yang akurat, relevan dan tepat waktu sesuai
komprehensif tentang semua masalah yang relevan dengan kewenangan yang tercantum di dalam Anggaran Dasar dan
korporasi. Dewan Komisaris sewaktu-waktu dapat meminta Direksi Board Manual Bab IV Nomor 4.1 huruf f.
untuk memberikan informasi tambahan.
Penyampaian informasi biasanya dilakukan melalui Rapat
The Board of Directors is responsible for ensuring that the Board Gabungan Dewan Komisaris dan Direksi.
of Commissioners has access to accurate, relevant, and timely Meskipun demikian, Dewan Komisaris sewaktu-waktu dapat
information. The Board of Commissioners itself ensures that it obtains meminta informasi tambahan dari Direksi.
sufficient information. The Board of Directors regularly provides the
Board of Commissioners with comprehensive information on all The Board of Directors ensures that the Board of Commissioners
matters relevant to the Company in a timely manner. The Board of has access to accurate, relevant, and timely information in
Commissioners may at any time request additional information from accordance with the authority, which is stipulated in Chapter IV,
the Board of Directors. Section 4.1, Letter f of the Article of Association and the Board
Manual.
Information is generally provided through Joint Meetings
between the Board of Commissioners and the Board of Directors.
However, the Board of Commissioners may request additional
information from the Board of Directors at any time.
Tanggung Jawab Direksi dan Dewan Komisaris atas Dampak Struktur Kepemilikan terhadap Korporasi
3.3
Responsibilities of the Board of Directors and The Board of Commissioners on the Impact of the Ownership Structure on the Corporation
PT Pertamina Geothermal Energy Tbk
Page 505
Laporan Tahunan 2025 | 2025 Annual Report 503
Nomor Rekomendasi Penjelasan dan Pelaksanaan
No. Recommendation Explanation and Implementation
3.3.1 Dampak struktur kepemilikan terhadap Korporasi. Direksi dan Poin 3.3.1 / Point 3.3.1
Dewan Komisaris mempertimbangkan tanggung jawabnya dalam Terpenuhi / Complied
konteks struktur kepemilikan saham dan hubungan antar pemegang
saham korporasi yang mungkin berdampak terhadap pengelolaan Seluruh anggota Dewan Komisaris dan Direksi beserta
dan operasi korporasi. keluarganya tidak memiliki saham PGE, sebagaimana
tercantum dalam Surat Pernyataan Kepemilikan Saham yang
The impact of ownership structure on the Corporation. The Board ditandatangani pada awal tahun 2025 oleh masing-masing
of Directors and the Board of Commissioners consider their anggota Dewan Komisaris dan Direksi. Laporan Kepemilikan
responsibilities in relation to the share ownership structure and the Saham anggota Direksi dan Dewan Komisaris secara bulanan
relationships among the Company’s shareholders that may have an juga disampaikan dalam situs web Perusahaan, menu “Investor”
impact on the management and operations of the Company. sub menu “Keterbukaan Informasi”
All members of the Board of Commissioners and the Board of
Directors, including their families, do not hold shares in PGE, as
stated in the Share Ownership Statement Letter signed by each
member of the Board of Commissioners and Board of Directors
at the beginning of 2025. In addition, the monthly Share
Ownership Report of the members of the Board of Directors
and the Board of Commissioners is disclosed on the Company’s
website under the “Investor” menu in the “Information Disclosure”
subsection.
Prinsip 4 / Principle 4
Perilaku Etis / Ethical Conduct
4.1 Pedoman Etika dan Perilaku | Code of Ethics and Code of Conduct
4.1.1 Pernyataan ini dituangkan dalam Pedoman Perilaku dan Etika Usaha Poin 4.1.1 - 4.1.2 / Point 4.1.1-4.1.2
yang harus secara jelas mengungkapkan harapan korporasi bahwa Terpenuhi / Complied
setiap anggota Direksi dan Dewan Komisaris serta Pekerja:
1. Bertindak untuk kepentingan terbaik korporasi; PGE telah memiliki Pedoman Etika Usaha dan Tata Perilaku
2. Bertindak dengan jujur dan dengan integritas berstandar tinggi; yang disahkan berdasarkan keputusan bersama antara Direksi
3. Bersikap independen dan bertindak berdasarkan informasi dan Dewan Komisaris No. Kpts-035/DK/PGE/2023-S0 dan
yang lengkap, dengan itikad baik, dengan uji tuntas dan kehati- No. Kpts-036/PGE000/2023-S0 pada tanggal 31 Mei 2023
hatian. dan telah diungkapkan di dalam Laporan Tahunan dan Laporan
4. Mematuhi peraturan perundang-undangan yang berlaku bagi Keberlanjutan PGE.
korporasi dan operasinya;
5. Menghindari tindakan yang melanggar peraturan perundang- PGE has established a Code of Business Ethics and Code of
undangan atau tindakan yang tidak etis berdasarkan pedoman Conduct, which was ratified through Joint Resolutions of the
etika korporasi; Board of Directors and the Board of Commissioners No. Kpts-
6. Tidak terlibat atau berpartisipasi dalam kegiatan apapun yang 035/DK/PGE/2023-S0 and No. Kpts-036/PGE000/2023-S0
akan menimbulkan benturan kepentingan dengan kepentingan dated May 31, 2023. The Code is also disclosed in PGE’s
terbaik korporasi atau yang akan berdampak negatif terhadap Annual Report and Sustainability Report.
reputasi korporasi;
7. Tidak mengambil manfaat atas properti atau informasi yang Pedoman juga dimuat di dalam situs web PGE:
dimiliki korporasi, kepemilikan aset lainnya atau pelanggannya The Code is also published on PGE’s website:
untuk kepentingan pribadi atau yang menyebabkan kerugian h t t p s : / / w w w. p g e . p e r t a m i n a . c o m / M e d i a / U p l o a d s /
bagi korporasi dan pelanggannya. keberlanjutan/file/Code_of_Conduct_-_PGEO%20update.pdf
8. Tidak memanfaatkan jabatannya atau peluang yang dihasilkan
oleh jabatannya untuk kepentingan pribadi.
9. Menghindari perbuatan meminta atau menerima dari pihak
ketiga pembayaran, gratifikasi atau keuntungan lain untuk
dirinya sendiri atau untuk orang lain yang menimbulkan benturan
kepentingan/ memberikan keuntungan kepada pihak ketiga
secara melanggar peraturan perundang- undangan.
10.Menghormati perbedaan pendapat dan hak-hak setiap anggota
Direksi, Dewan Komisaris, dan pekerja.
11.Memastikan pengungkapan yang lengkap, adil, akurat, tepat
waktu, dan dapat dipahami dalam laporan dan dokumen yang
disampaikan korporasi kepada regulator dan dalam komunikasi
publik lainnya.
PT Pertamina Geothermal Energy Tbk
Page 506
504 Laporan Tahunan 2025 | 2025 Annual Report
Nomor Rekomendasi Penjelasan dan Pelaksanaan
No. Recommendation Explanation and Implementation
This statement is outlined in the Code of Conduct and Business
Ethics, which clearly states the Company’s expectations that every
member of the Board of Directors, the Board of Commissioners, and
employees must:
1. Act in the best interests of the Company;
2. Act honestly and with high standards of integrity;
3. Maintain independence and act based on complete information,
in good faith, with due diligence and prudence;
4. Comply with all applicable laws and regulations governing the
Company and its operations;
5. Avoid actions that violate laws and regulations or unethical
actions based on the Company’s code of ethics;
6. Not be involved or participate in any activities that will create a
conflict of interest with the best interests of the Company or that
will have a negative impact on the Company’s reputation;
7. Not misuse Company property or information owned by the
Company, ownership of other assets, or its customers for personal
benefit or which causes losses to the Company and its customers.
8. Not taking advantage of their position or the opportunities
resulting from their position for personal benefit.
9. Avoid acts of requesting or receiving from third parties payments,
gratuities, or other benefits for themselves or for other people that
create a conflict of interest/provide benefits to third parties in
violation of laws and regulations.
10.Respect differences of opinion and the rights of every member
of the Board of Directors, the Board of Commissioners, and
employees.
11.Ensure complete, fair, accurate, timely, and understandable
disclosure in reports and documents submitted by the Company
to regulators and in other public communications.
4.1.2 Direksi menetapkan kebijakan dan praktik anti pencucian uang
dan pendanaan terorisme, anti suap, antikorupsi, antikecurangan
(antifraud), keterlibatan dalam politik dengan mengacu pada
standar nasional atau internasional mengenai anti pencucian uang,
anti suap, antikorupsi, antikecurangan atau standar terkait lainnya.
The Board of Directors determines policies and practices for anti-
money laundering and terrorism financing, anti-bribery, anti-
corruption, anti-fraud, and political involvement by referring to
national or international standards on anti-money laundering, anti-
bribery, anti-corruption, anti-fraud, or other relevant standards.
4.2 Nilai-nilai dan Budaya Organisasi | Organization Values and Culture
4.2.1 Korporasi mengartikulasikan, menumbuhkan dan mengungkapkan Poin 4.2.1 / Point 4.2.1
budaya dan nilai-nilai korporasi. Terpenuhi / Complied
Corporations articulate, cultivate and express Corporate culture and Sebagai bagian dari Subholding PNRE, PGE turut
values. mengimplementasikan core values BUMN AKHLAK sebagai
budaya Perusahaan. Program Budaya AKHLAK Subholding
PNRE secara konsisten dilakukan dan dievaluasi pelaksanaannya
setiap 1 (satu) bulan sekali melalui self-assessment .
As part of the PNRE Subholding, PGE also adopts the
BUMN AKHLAK core values as its corporate culture. The
PNRE Subholding AKHLAK Culture Program is implemented
consistently, with its implementation evaluated monthly through
a self-assessment process.
4.3 Komunikasi dan Penegakan Pedoman Etika, Nilai-nilai dan Budaya
Communication and Enforcement of the Code of Ethics, Values, and Culture
4.3.1 Pedoman perilaku dan kode etik korporasi dikomunikasikan secara Poin 4.3.1 / Point 4.3.1
efektif kepada Direksi, Dewan Komisaris, serta seluruh pekerja, Terpenuhi | Complied
diintegrasikan ke dalam strategi dan operasi korporasi termasuk
sistem manajemen risiko dan struktur remunerasi, serta ditegakkan. Pedoman etika, nilai-nilai, dan budaya Perusahaan
dikomunikasikan secara efektif kepada seluruh Perwira PGE
The Company’s Code of Conduct and Code of Ethics are effectively dan diintegrasikan ke dalam strategi dan operasi Perusahaan
communicated to the Board of Directors, the Board of Commissioners, melalui penerapan Pedoman Etika Usaha dan Tata Perilaku.
and all employees. They are integrated into the Company’s strategy Setiap pelanggaran yang terbukti akan dikenakan sanksi.
and operations, including the risk management system and
remuneration structure, and are effectively enforced. The Company’s ethical guidelines, values, and culture are
effectively communicated to all PGE employees and are
integrated into the Company’s strategy and operations through
the implementation of the Business Ethics and Code of Conduct.
Any violations that are proven will be subject to sanctions.
PT Pertamina Geothermal Energy Tbk
Page 507
Laporan Tahunan 2025 | 2025 Annual Report 505
Nomor Rekomendasi Penjelasan dan Pelaksanaan
No. Recommendation Explanation and Implementation
Prinsip 5 / Principle 5
Manajemen Risiko, Pengendalian Internal Dan Kepatuhan
Risk Management, Internal Control, And Compliance
5.1 Pengendalian Internal dan Kepatuhan | Internal Control and Compliance
5.1.1 Direksi melakukan review secara berkala atas ketepatan desain Poin 5.1.1 / Point 5.1.1
dan efektivitas operasional sistem governansi, pengelolaan risiko, Terpenuhi / Complied
pengendalian internal dan kepatuhan korporasi dan melaporkan
pelaksanaan dan hasil review kepada para pemegang saham Laporan Tahunan PGE telah memuat informasi mengenai
melalui laporan tahunan Korporasi. efektivitas operasional sistem governansi, pengelolaan risiko
dan pengendalian internal yang dapat dilihat pada halaman
The Board of Directors periodically evaluates the accuracy of the 390-399 tentang Sistem Pengendalian Internal dan Manajemen
design and operational effectiveness of the governance system, Risiko pada Laporan Tahunan 2025.
risk management, internal control, and Corporate compliance,
and reports the implementation and results of these evaluations to PGE’s Annual Report includes information on the operational
shareholders through the Company’s Annual Report. effectiveness of the governance system, risk management, and
internal control, as presented on page 390-399 under the
sections on the Internal Control System and Risk Management in
the 2025 Annual Report.
5.2 Manajemen Risiko | Risk Management
5.2.1 Strategi dan risiko merupakan satu kesatuan, diungkapkan secara Poin 5.2.1 - 5.2.2 / Point 5.2.1-5.2.2
transparan, masuk ke dalam pelaksanaan tugas dan tanggung Terpenuhi / Complied
jawab Direksi dan Dewan Komisaris, serta dalam diskusi di rapat
Dewan Komisaris dan Direksi. PGE telah memiliki Pedoman Pengelolaan Risiko Perusahaan
Nomor A-001/PGE900/2025-S9 Revisi 00 yang disahkan
Strategy and risk are an integrated unit, disclosed transparently, oleh Direktur Utama pada tanggal tanggal 1 Agustus 2025 dan
incorporated into the implementation of the duties and responsibilities telah diungkapkan pada halaman 400 Laporan Tahunan 2025.
of the Board of Directors and the Board of Commissioners, as well
as in discussions at meetings of the Board of Commissioners and the PGE has established Corporate Risk Management Guidelines
Board of Directors. No. A-001/PGE900/2025-S9 Revision 00, which were
approved by the President Director on August 1, 2025, and
disclosed on page 400 of the 2025 Annual Report.
5.2.2 Komite Investasi dan Manajemen Risiko membantu pelaksanaan
tugas Dewan Komisaris dengan menciptakan mekanisme yang
transparan, fokus, dan independen dalam pengawasan manajemen
risiko korporasi.
The Investment Committee and Risk Management supports the
Board of Commissioners in performing its duties by establishing a
transparent, focused, and independent mechanism for overseeing
the Company’s risk management.
Integrasi Governansi, Manajemen Risiko dan Kepatuhan
5.3
Integration of Governance, Risk Management, and Compliance
5.3.1 Direksi membangun sistem governansi, manajemen risiko, dan Poin 5.3.1 - 5.3.2 / Poin 5.3.1-5.3.2
kepatuhan (GRC) yang terintegrasi, dengan menangani berbagai Terpenuhi / Complied
ketidakpastian secara terpadu dan dengan integritas yang tinggi,
untuk meyakinkan bahwa korporasi dapat mencapai tujuannya. Direksi memastikan adanya koordinasi dan peningkatan
kapabilitas di antara sistem utama GRC melalui Fungsi Legal &
The Board of Directors has established an integrated governance, Compliance dan Fungsi Enterprise Risk Management di bawah
risk management, and compliance (GRC) system by handling various Direktur Utama
uncertainties in a coordinated manner and with high integrity to
ensure that the Company can achieve its objectives. The Board of Directors ensures coordination and the enhancement
of capabilities among the main GRC systems through the Legal
& Compliance Function and the Enterprise Risk Management
Function, both of which operate under the supervision of the
President Director.
PT Pertamina Geothermal Energy Tbk
Page 508
506 Laporan Tahunan 2025 | 2025 Annual Report
Nomor Rekomendasi Penjelasan dan Pelaksanaan
No. Recommendation Explanation and Implementation
5.3.2 Direksi memastikan bahwa bagian yang membawahi fungsi
kepatuhan tidak merangkap melaksanakan fungsi yang berpotensi
menimbulkan benturan kepentingan.
The Board of Directors ensures that the department responsible for
the compliance function does not concurrently carry out functions
that could potentially create a conflict of interest.
5.4 Audit Internal | Internal Audit
5.4.1 Dewan Komisaris melalui Komite Audit memantau dan memastikan Poin 5.4.1 / Point 5.4.1
bahwa fungsi audit internal membantu korporasi untuk mencapai Terpenuhi / Complied
tujuannya dengan membawa pendekatan yang objektif dan disiplin
untuk mengevaluasi dan meningkatkan efektivitas manajemen risiko, Dewan Komisaris melalui Komite Audit memastikan Fungsi
pengendalian internal, dan governansi korporat. Internal Audit memiliki wewenang, sumber daya dan akses
atas informasi yang memadai untuk melaksanakan perannya
The Board of Commissioners, through the Audit Committee, oversees secara efektif. Selain itu Komite Audit juga mengkaji efektivitas
and ensures that the internal audit function supports the Company pelaksanaan internal audit secara berkala.
in achieving its objectives by applying an objective and disciplined
approach to evaluating and improving the effectiveness of risk The Board of Commissioners, through the Audit Committee,
management, internal control, and Corporate governance. ensures that the Internal Audit Function has sufficient authority,
resources, and access to relevant information to perform its
duties effectively. In addition, the Audit Committee periodically
reviews the effectiveness of the implementation of internal audit
activities.
Prinsip 6 / Principle 6
Pengungkapan Dan Transparansi / Disclosure And Transparency
6.1 Kebijakan Pengungkapan | Disclosure Policy
6.1.1 Korporasi memiliki kebijakan dan prosedur pengungkapan dan Poin 6.1.1 - 6.1.2 / Point 6.1.1-6.1.2
transparansi yang memastikan pengungkapan informasi material Terpenuhi / Complied
dan menjaga informasi sensitif serta rahasia korporasi.
PGE telah memiliki kebijakan dan prosedur pengungkapan
The Company has established policies and procedures on disclosure dan transparansi yang memastikan pengungkapan informasi
and transparency to ensure the disclosure of material information material dan menjaga informasi sensitif serta rahasia
while protecting the Company’s sensitive and confidential Perusahaan, di antaranya tercantum dalam:
information. 1. Tata Kerja Organisasi Penyampaian Keterbukaan Informasi
Nomor: B-003/PGE520/2024-S9 tanggal 2 Agustus 2024;
dan
2. Code of Corporate Governance pada Bab V Angka 17
tentang Pengungkapan dan Kerahasiaan Informasi.
Selain itu PGE telah melaksanakan kewajiban keterbukaan
informasi material yang relevan tentang Perusahaan secara
teratur dan tepat waktu kepada pemegang saham, baik melalui
publikasi Laporan Keuangan, Laporan Tahunan dan Laporan
Keberlanjutan, pengumuman di media masa, serta informasi
di situs web Perusahaan dan online reporting Otoritas Jasa
Keuangan (OJK) serta Bursa Efek Indonesia (BEI).
PGE has established policies and procedures on disclosure and
transparency to ensure the disclosure of material information
while safeguarding the Company’s sensitive and confidential
information, as stipulated in:
1. Organizational Procedures for Disclosure of Information No.
B-003/PGE520/2024-S9 dated August 2, 2024; and
2. Code of Corporate Governance, Chapter V Section 17
regarding the Disclosure and Confidentiality of Information.
In addition, PGE has fulfilled its obligation to disclose relevant
material information about the Company to shareholders on a
regular and timely basis through the publication of Financial
Statements, Annual Reports, and Sustainability Reports,
announcements in the mass media, as well as disclosures on
the Company’s website and through online reporting to the
Financial Services Authority (OJK) and the Indonesia Stock
Exchange (IDX).
6.1.2 Hak Pemegang Saham untuk memperoleh secara teratur dan tepat
waktu informasi material yang relevan tentang korporasi harus
dipenuhi.
Shareholders must be provided with relevant and material information
about the Company on a regular and timely basis to ensure their
rights are properly fulfilled.
PT Pertamina Geothermal Energy Tbk
Page 509
Laporan Tahunan 2025 | 2025 Annual Report 507
Nomor Rekomendasi Penjelasan dan Pelaksanaan
No. Recommendation Explanation and Implementation
6.2 Laporan Keuangan dan Keberlanjutan | Financial Report and Sustainability Report
6.2.1 Korporasi mengungkapkan sistem dan prosedur untuk memastikan Poin 6.2.1 - 6.2.4 / Point 6.2.1-6.2.4
bahwa laporan keuangan interim yang tidak diaudit atau direviu Terpenuhi / Complied
oleh auditor eksternal secara material adalah akurat, lengkap, dan
memberikan investor informasi yang tepat untuk membuat keputusan PGE memastikan bahwa laporan keuangan interim yang tidak
investasi yang tepat. diaudit atau ditinjau oleh auditor eksternal secara material
adalah akurat, lengkap, dan disusun berdasarkan standar
The Company discloses the systems and procedures to ensure that akuntansi yang tepat oleh sumber daya manusia yang memiliki
interim financial reports that have not been audited or reviewed by kapasitas sesuai. Komite Audit memastikan kualitas audit yang
an external auditor are materially accurate, complete, and provide dilaksanakan auditor eksternal sesuai dengan yang dibutuhkan.
investors with adequate information to make the right investment Laporan berkelanjutan PGE telah disiapkan dengan mengacu
decisions. kepada:
1. POJK 51/POJK.03/2017 tentang Penerapan Keuangan
Berkelanjutan;
2. SE OJK Nomor 16/SEOJK.04/2021 tentang Bentuk dan Isi
Laporan Tahunan Emiten atau Perusahaan Publik; dan
3. Global Reporting Initiative (GRI) 2021.
PGE telah menerbitkan Laporan Tahunan secara terintegrasi
yang menempatkan kinerja historis ke dalam konteks dan
menggambarkan risiko, peluang dan prospek Perusahaan di
masa depan. Laporan Tahunan dan Laporan Keberlanjutan
disetujui dan ditandatangani oleh seluruh anggota Dewan
Komisaris dan Direksi.
PGE ensures that interim financial reports which have not been
audited or reviewed by external auditors are materially accurate,
complete, and prepared in accordance with applicable
accounting standards by appropriately qualified personnel. The
Audit Committee also ensures that the quality of audits conducted
by external auditors meets the required standards.
PGE’s Sustainability Report has been prepared in accordance
with:
1. POJK No. 51/POJK.03/2017 concerning the Implementation
of Sustainable Finance;
2. OJK Circular Letter No. 16/SEOJK.04/2021 concerning
the Form and Content of Annual Reports of Issuers or Public
Companies; and
3. Global Reporting Initiative (GRI) 2021.
PGE has also published an integrated Annual Report that places
historical performance in context and outlines the Company’s
risks, opportunities, and future prospects. The Annual Report and
Sustainability Report are approved and signed by all members
of the Board of Commissioners and the Board of Directors.
6.2.2 Komite Audit memastikan kualitas audit laporan keuangan yang
dilaksanakan oleh auditor eksternal. Kegiatan ini termasuk
merekomendasikan penunjukan, penunjukan kembali dan, jika
perlu, pemberhentian dan remunerasi auditor eksternal.
The Audit Committee ensures the quality of financial statement
audits carried out by external auditors. These activities include
recommending the appointment, re-appointment, and, if necessary,
the dismissal and remuneration for external auditors.
6.2.3 Laporan berkelanjutan harus disiapkan dan diungkapkan dengan
akurat dan disusun sesuai kerangka pelaporan keberlanjutan
nasional atau internasional.
The sustainability report must be prepared and disclosed accurately
and in accordance with applicable national or international
sustainability reporting frameworks.
PT Pertamina Geothermal Energy Tbk
Page 510
508 Laporan Tahunan 2025 | 2025 Annual Report
Nomor Rekomendasi Penjelasan dan Pelaksanaan
No. Recommendation Explanation and Implementation
6.2.4 Korporasi menerbitkan laporan tahunan secara terintegrasi
yang menempatkan kinerja historis ke dalam konteks dan
menggambarkan risiko, peluang, dan prospek korporasi di masa
depan, sehingga membantu pemegang saham dan pemangku
kepentingan memahami tujuan strategis korporasi dan kemajuannya
dalam menciptakan nilai yang berkelanjutan.
The Company publishes an integrated annual report that places
historical performance in context and describes the Company’s risks,
opportunities, and future prospects, thereby enabling shareholders
and stakeholders to better understand the Company’s strategic
objectives and its progress in creating sustainable value.
6.3 Diseminasi Informasi / Information Dissemination
6.3.1 Saluran penyebaran informasi harus menyediakan akses yang Poin 6.3.1-6.3.3 / Point 6.3.1-6.33
setara, tepat waktu, dan relatif murah untuk informasi yang relevan Terpenuhi / Complied
bagi pengguna.
PGE menyediakan akses yang setara, tepat waktu dan relatif
Information dissemination channels must ensure equal, timely, and murah untuk semua pihak yang membutuhkan informasi tentang
cost-effective access to information that is relevant to users. Perusahaan yaitu melalui situs web PGE dan media sosial:
Website: www.pge.pertamina.com
Instagram: pge.pertamina
Facebook: Pertamina Geothermal Energy
Twitter: @pgepertamina
YouTube: pge.pertamina
Uraian lebih detail dapat dilihat pada Laporan Tahunan 2025
pada halaman 447 tentang dan Data Perusahaan.
PGE provides equal, timely, and relatively affordable access
to information for all parties seeking information about the
Company through PGE website and social media platforms,
including:
Website: www.pge.pertamina.com
Instagram: pge.pertamina
Facebook: Pertamina Geothermal Energy
Twitter: @pgepertamina
YouTube: pge.pertamina
A more detailed explanation can be found in the 2025 Annual
Report on page 447 under the section on Access to Company
Information and Data.
6.3.2 Korporasi memastikan bahwa pernyataan tahunan terhadap
penerapan Pedoman Umum Governansi Korporat Indonesia,
termasuk penjelasan atas penerapan atas masing-masing
Rekomendasi dan Panduan tersedia di situs web selama jangka
waktu minimal lima tahun.
The Corporation ensures that an annual statement regarding the
implementation of the General Guidelines for Indonesian Corporate
Governance, including explanations of the implementation of each
Recommendation and Guideline, is made available on the website
for a minimum period of five years.
6.3.3 Untuk korporasi yang terdaftar di pasar modal di yurisdiksi selain
yurisdiksi asal, peraturan perundang-undangan atas governansi
korporat yang berlaku harus diungkapkan dengan jelas. Dalam
hal cross listing, kriteria dan prosedur cross listing, kriteria dan
prosedur untuk mengakui persyaratan listing untuk listing utama
harus transparan dan didokumentasikan.
For corporations listed on capital markets outside their home
jurisdiction, the applicable Corporate governance laws and
regulations must be clearly disclosed. In the case of cross-listing, the
criteria and procedures for cross-listing, as well as the criteria and
procedures for recognizing the listing requirements of the primary
listing, must be transparent and properly documented.
PT Pertamina Geothermal Energy Tbk
Page 511
Laporan Tahunan 2025 | 2025 Annual Report 509
Nomor Rekomendasi Penjelasan dan Pelaksanaan
No. Recommendation Explanation and Implementation
Prinsip 7 / Principle 7
Hak-Hak Pemegang Saham/Rights Of Shareholders
7.1 Hak Pemegang Saham / Rights of Shareholders
7.1.1 Korporasi memiliki suatu kebijakan komunikasi yang memfasilitasi Poin 7.1.1 - 7.1.3 / Point 7.1.1-7.1.3
dan mendorong partisipasi pemegang saham atau investor. Terpenuhi / Complied
The Corporation has a communications policy that facilitates and PGE telah memiliki kebijakan terkait komunikasi dengan
encourages shareholder or investor participation. Pemegang Saham atau Investor yang tercantum dalam Tata
Kerja Organisasi Penyampaian Keterbukaan Informasi Nomor:
B-003/PGE520/2024-S9 tanggal 2 Agustus 2024 tentang
Penyampaian Informasi Perusahaan Kepada Investor. PGE
melalui Fungsi Investor Relations melakukan proses komunikasi
dengan pemegang saham, investor, serta pejabat pendukung
pasar modal .
Uraian detail dapat dilihat pada halaman 370 tentang
Hubungan Investor pada bab Tata Kelola Perusahaan dan
halaman 262 tentang Informasi Pemegang Saham dan halaman
262 tentang Informasi pada Website Perusahaan serta halaman
261 tentang Rapat Umum Pemegang Saham dan halaman 447
Akses Informasi dan Data Perusahaan pada Laporan Tahunan
2025.
PGE has established a policy on communication with shareholders
and investors, as stipulated in the Organizational Procedures
for Disclosure of Information No. B-003/PGE520/2024-S9
dated August 2, 2024, regarding the Disclosure of Company
Information to Investors. Through its Investor Relations function,
PGE maintains communication with shareholders, investors, and
capital market supporting institutions.
Further details can be found in the 2025 Annual Report on page
370 under the sections on Investor Relations in the Corporate
Governance chapter, page 262 under the section Shareholder
Information, page 262 under the section Information on the
Company Website, page 261 under the section General
Meeting of Shareholders, and page 447 under the section
Access to Company Information and Data.
7.1.2 Korporasi yang merupakan entitas induk memastikan bahwa
kebijakan governansi korporatnya berlaku bagi entitas anak dan
entitas sepengendali yang di dalamnya investasi korporasi adalah
signifikan.
The Corporation, as the parent entity, ensures that its corporate
governance policies are also implemented in its subsidiaries and
other entities under common control in which the Corporation holds
a significant investment.
7.1.3 Korporasi memiliki aturan dan prosedur yang mengatur akuisisi,
pengambilalihan, dan transaksi luar biasa seperti merger dan
penjualan aset korporasi yang substansial untuk memastikan
transaksi terjadi secara transparan dan dalam kondisi yang wajar
dan melindungi hak-hak semua pemegang saham sesuai dengan
kelasnya.
The Corporation has rules and procedures governing acquisitions,
takeovers, and extraordinary transactions, such as mergers and the
sale of substantial Corporate assets, to ensure that such transactions
are conducted transparently and under fair conditions, while
protecting the rights of all shareholders in accordance with their
respective share classes.
PT Pertamina Geothermal Energy Tbk
Page 512
510 Laporan Tahunan 2025 | 2025 Annual Report
Nomor Rekomendasi Penjelasan dan Pelaksanaan
No. Recommendation Explanation and Implementation
7.2 Perlakuan Adil Terhadap Pemegang Saham / Fair Treatment of Shareholders
7.2.1 Korporasi memiliki aturan dan prosedur yang memastikan: Poin 7.2.1 - 7.2.3 / Point 7.2.1-7.2.3
a. Semua pemegang saham dari seri yang sama dalam satu kelas Terpenuhi / Complied
saham harus diperlakukan setara
b. Pengungkapan aturan dan prosedur tersebut serta pengungkapan PGE memastikan untuk memberikan informasi dan perlakuan
struktur modal dan pengaturan yang memungkinkan pemegang yang setara kepada seluruh pemegang saham dengan
saham tertentu memeroleh pengaruh atau kendali yang tidak memberikan informasi dengan muatan dan waktu yang sama
proporsional dengan kepemilikan sahamnya. melalui situs web:
PGE ensures equal access to information and fair treatment for
all shareholders by providing information with the same content
and at the same time through the Company’s website:
www.pge.pertamina.com
The Corporation implements rules and procedures to ensure: Terkait transaksi pihak berelasi, PGE telah memiliki aturan dan
a. Equal treatment for all shareholders within the same series of a prosedur yang memastikan benturan kepentingan telah dikelola
share class dengan tepat, serta melindungi kepentingan Perusahaan dan
b. Disclosure of these rules and procedures as well as disclosure pemegang saham.
of capital structures and arrangements that allow certain
shareholders to obtain influence or control that is disproportionate Untuk mencegah terjadinya pelanggaran dalam transaksi yang
to their share ownership. dilakukan oleh orang dalam, PGE telah memiliki Kebijakan
Insider Trading yang telah dipublikasikan dalam situs web PGE:
With regard to related party transactions, PGE has established
rules and procedures to ensure that conflicts of interest are
properly managed and to protect the interests of the Company
and its shareholders.
To prevent violations related to insider transactions, PGE has
also implemented an Insider Trading Policy, which is published
on the PGE website:
h t t p s : / / w w w. p g e . p e r t a m i n a . c o m / M e d i a / U p l o a d s /
keberlanjutan/file/Kebijakan%20Insider%20Trading%20
PGEO-2.pdf
7.2.2 Korporasi memiliki aturan dan prosedur yang memastikan transaksi
pihak berelasi disetujui dan dilaksanakan sedemikian rupa yang
dapat meyakinkan bahwa benturan kepentingan telah dikelola
dengan tepat, dan melindungi kepentingan korporasi dan pemegang
saham.
The Corporation has rules and procedures that ensure related party
transactions are approved and implemented in a manner that ensures
that conflicts of interest are managed appropriately, and protects the
interests of the Corporation and its shareholders.
7.2.3 Korporasi memiliki dan mengungkapkan kebijakan untuk mencegah
terjadinya insider trading. Korporasi memiliki aturan yang
jelas mengenai perdagangan apa pun dalam saham korporasi
yang dilakukan oleh direktur, komisaris dan orang dalam untuk
memastikan bahwa siapapun tidak boleh mendapatkan keuntungan
secara langsung atau tidak langsung dari informasi yang tidak/
belum tersedia di pasar.
The Corporation has and discloses policies to prevent insider
trading. The Corporation has clear rules regarding any transactions
in the Company’s shares carried out by Directors, Commissioners,
and insiders to ensure that no individual can gain direct or indirect
benefits from information that is not/not yet available in the market.
PT Pertamina Geothermal Energy Tbk
Page 513
Laporan Tahunan 2025 | 2025 Annual Report 511
Nomor Rekomendasi Penjelasan dan Pelaksanaan
No. Recommendation Explanation and Implementation
7.3 Rapat Umum Pemegang Saham / General Meeting of Shareholders
7.3.1 Korporasi melakukan panggilan RUPS dengan agenda dan materi Poin 7.3.1 - 7.3.5 / Point 7.3.1-7.3.5
RUPS selengkap dan sedini mungkin (paling lambat 28 hari sebelum Terpenuhi / Complied
RUPS) untuk memberikan waktu dan materi yang cukup bagi
pemegang saham untuk mempelajari dengan baik agenda rapat. PGE telah menyelenggarakan RUPS sesuai dengan ketentuan
Undangan rapat dan seluruh informasi RUPS diungkapkan melalui OJK dan ketentuan internal Perusahaan melalui TKO B-001/
sarana elektronik seperti melalui situs web korporasi. PGE510/2023-S9 tentang penyelenggaran RUPS. Pemanggilan
RUPS dilakukan 21 hari sebelum RUPS dan PGE telah memiliki
The Corporation issues an invitation to the GMS, including the tata kelola RUPS yang mengatur mengenai prosedur RUPS.
meeting agenda and supporting materials, as completely and
as early as possible (no later than 28 days prior to the GMS) to PGE juga telah mengungkapkan aturan dan prosedur yang
provide shareholders with sufficient time to review and understand memfasilitasi pemegang saham untuk berpartisipasi dan
the meeting agenda. The invitation and all information related to the memberikan suara, memastikan transparansi dan akuntabilitas
GMS are disclosed electronically, including through the Company’s auditor eksternal, serta menyampaikan hasil pemungutan suara
website. dan ringkasan risalah RUPS.
Uraian lebih detail dapat dilihat pada halaman 261 tentang
RUPS di Laporan Tahunan 2025.
PGE held the GMS in accordance with OJK regulations and
the Company’s internal regulations, as stipulated in TKO No.
B-001/PGE510/2023-S9 concerning the implementation of the
GMS. The invitation of the GMS was issued 21 days prior to
the GMS, and PGE has established a governance system for
conducting the GMS.
PGE has also disclosed rules and procedures that facilitate
shareholder participation and voting, ensure the transparency
and accountability of external auditors, and disclose the voting
results as well as a summary of the GMS minutes.
Further details can be found on page 261 in the GMS section of
the 2025 Annual Report.
7.3.2 Korporasi memiliki dan mengungkapkan aturan dan prosedur
yang memfasilitasi pemegang saham dalam berpartisipasi dan
memberikan suara secara efektif di RUPS.
The Corporation has and discloses rules and procedures that enables
shareholders to participate and exercise their voting rights effectively
at the GMS.
7.3.3 Pemegang saham berpartisipasi efektif dalam menetapkan
penunjukan anggota Direksi dan Dewan Komisaris.
Shareholders participate effectively in determining the appointment
of members of the Board of Directors and Board of Commissioners.
7.3.4 Korporasi memastikan transparansi dan akuntabilitas auditor
eksternal di RUPS.
The Corporation ensures the transparency and accountability of
external auditors during the GMS.
7.3.5 Penyampaian hasil pemungutan suara dan ringkasan risalah RUPS
secara lengkap diumumkan ke publik pada hari kerja berikutnya.
The voting results and a comprehensive summary of the minutes of
the GMS are publicly disclosed on the next working day.
PT Pertamina Geothermal Energy Tbk
Page 514
512 Laporan Tahunan 2025 | 2025 Annual Report
Nomor Rekomendasi Penjelasan dan Pelaksanaan
No. Recommendation Explanation and Implementation
Prinsip 8 / Principle 8
Hak-Hak Pemangku Kepentingan / Rights Of Stakeholders
8.1 Keterlibatan Pemangku Kepentingan Kunci / Stakeholder Engagement
8.1.1 Korporasi melalui Sekretaris Korporasi melaksanakan komunikasi Poin 8.1.1 / Point 8.1.1
yang reguler, transparan dan efektif dengan pemangku kepentingan Terpenuhi / Complied
kunci serta melibatkan mereka untuk memahami harapan dan
keluhan mereka serta dampak korporasi terhadap mereka. PGE melalui Sekretaris Perusahaan melaksanakan komunikasi
yang reguler, transparan dan efektif dengan pemangku
The Corporation, through the Corporate Secretary, conducts regular, kepentingan kunci. Saluran/media komunikasi yang
transparent, and effective communication with stakeholders and dapat digunakan oleh para pemangku kepentingan untuk
involves them to understand their expectations and concerns, as well menyampaikan pendapat dan masukan atau menyuarakan
as the impact of the Corporation’s activities on them. keluhan, di antaranya melalui Pertamina Call Center 135, situs
web Perusahaan (www.pge.pertamina.com) dan email sebagai
berikut:
• Investor/pemegang saham: pge.ir@pertamina.com
• Pelanggan: pcc135@pertamina.com
Selain itu PGE juga melakukan pertemuan langsung seperti
Temu Pelanggan serta pertemuan investor/investor summit.
PGE, through its Corporate Secretary, conducts regular,
transparent, and effective communication with key stakeholders.
Stakeholders are provided with communication channels to
convey opinions, provide feedback, or submit complaints,
including the Pertamina Call Center 135, the Company’s
website (www.pge.pertamina.com), and email through the
following addresses:
• Investors/Shareholders: pge.ir@pertamina.com
• Customers: pcc135@pertamina.com
In addition, PGE also conducts face-to-face meetings, such as
Customer Meetings and investor summits.
8.2 Integrasi Keberlanjutan dalam Model Bisnis / Integration of Sustainability into the Business Model
8.2.1 Dewan Komisaris bersama-sama dengan Direksi bertanggung Poin 8.2.1 / Point 8.2.1
jawab, akuntabel dan transparan atas governansi keberlanjutan, Terpenuhi / Complied
termasuk menetapkan strategi, prioritas, dan target keberlanjutan
korporasi. Direksi dan Dewan Komisaris memasukkan pertimbangan Dewan Komisaris bersama-sama dengan Direksi bertanggung
keberlanjutan ketika menjalankan perannya, termasuk antara lain jawab, akuntabel dan transparan atas governansi keberlanjutan,
dalam pengembangan dan implementasi strategi korporasi, rencana termasuk dalam hal menetapkan strategi, prioritas, dan target
bisnis, rencana aksi utama dan manajemen risiko. keberlanjutan Perusahaan.
The Board of Commissioners, together with the Board of Directors, The Board of Commissioners, together with the Board of
is responsible, accountable, and transparent for sustainability Directors, is responsible, accountable, and transparent for
governance, including determining the Company’s sustainability sustainability governance, including determining the Company’s
strategies, priorities, and targets. The Board of Directors and the sustainability strategies, priorities, and targets.
Board of Commissioners include sustainability considerations in
the execution of their roles, including in the development and
implementation of Corporate strategies, business plans, key action
plans, and risk management.
PT Pertamina Geothermal Energy Tbk
Page 515
Laporan Tahunan 2025 | 2025 Annual Report 513
Nomor Rekomendasi Penjelasan dan Pelaksanaan
No. Recommendation Explanation and Implementation
8.3 Perlindungan terhadap Pemangku Kepentingan / Protection of Stakeholders
8.3.1 Direksi memastikan dan mengungkapkan bahwa operasi korporasi Poin 8.3.1 - 8.3.2 / Point 8.3.1-8.3.2
mencerminkan penerapan standar etika, tanggung jawab sosial dan Terpenuhi / Complied
lingkungan yang tinggi di seluruh korporasi dan memastikan bahwa
kebijakan dan prosedur yang tepat diterapkan untuk menghormati Direksi memastikan bahwa operasi Perusahaan telah
serta mematuhi hak-hak pemangku kepentingan. mencerminkan penerapan standar etika, tanggung jawab
sosial dan lingkungan yang tinggi di seluruh Perusahaan untuk
The Board of Directors ensures and discloses that the Company’s menghormati hak-hak pemangku kepentingan. Perusahaan
operations reflect the implementation of high ethical standards and telah menjalankan dan memiliki kebijakan mengenai tanggung
social and environmental responsibility throughout the organization jawab Perusahaan kepada pelanggan, pemasok, dan juga
and ensures that appropriate policies and procedures are in place to pekerja Perusahaan. Selain itu Perusahaan juga telah memiliki
respect and comply with the rights of stakeholders. Pedoman Tanggung Jawab Sosial dan Lingkungan (TJSL) yang
diintegrasikan di seluruh lini bisnis Perusahaan dan telah
diungkapkan di dalam Laporan Keberlanjutan 2025 PGE.
PGE juga mengedepankan kebijakan persaingan sehat yang
tercantum di dalam Pedoman Etika Usaha dan Etika Kerja.
The Board of Directors ensures that the Company’s operations
reflect the implementation of high ethical standards and social
and environmental responsibility throughout the organization,
while respecting the rights of stakeholders. The Company has
implemented and maintains policies regarding its responsibilities
to customers, suppliers, and employees. In addition, the Company
has established Social and Environmental Responsibility (TJSL)
Guidelines that are integrated across all business lines and
disclosed in PGE’s 2025 Sustainability Report.
PGE also prioritizes fair competition policies, as outlined in the
Business Ethics and Code of Conduct Guidelines.
8.3.2 Direksi mendorong pekerja bekerja untuk kepentingan jangka
panjang korporasi dan mengedepankan keberlanjutan.
The Board of Directors encourages employees to work in the long-
term interests of the Corporation and to prioritize sustainability.
PT Pertamina Geothermal Energy Tbk
Page 516
514 Laporan Tahunan 2025 | 2025 Annual Report PT Pertamina Geothermal Energy Tbk
Page 517
Laporan Tahunan 2025 | 2025 Annual Report 515
07
Tanggung
Jawab
Sosial dan
Lingkungan
Social and Environmental Responsibility
PT Pertamina Geothermal Energy Tbk
Page 518
516 Laporan Tahunan 2025 | 2025 Annual Report
Tanggung Jawab
Sosial dan Lingkungan
Social And Environmental Responsibility
Sesuai dengan Surat Edaran Otoritas Jasa Keuangan (SEOJK) In accordance with Otoritas Jasa Keuangan (OJK) Circular Letter
No. 16/SEOJK.04/2021 tentang Bentuk dan Isi Laporan Tahunan No. 16/SEOJK.04/2021 concerning the Form and Content of
Emiten atau Perusahaan Publik, PT Pertamina Geothermal Energy Annual Reports of Issuers or Public Companies, PT Pertamina
Tbk (“Perseroan”, “PGE”) menyampaikan laporan Tanggung Geothermal Energy Tbk (the “Company” or “PGE”) presents its
Jawab Sosial dan Lingkungan (TJSL) dalam buku terpisah. Laporan Social and Environmental Responsibility (TJSL) Report in a separate
TJSL tersebut telah mengacu pada Peraturan OJK (POJK) No. 51/ publication. The TJSL Report has been prepared in reference to
POJK.03/2017 tentang Penerapan Keuangan Berkelanjutan bagi OJK Regulation (POJK) No. 51/POJK.03/2017 regarding the
Lembaga Jasa Keuangan, Emiten, dan Perusahaan Publik. Implementation of Sustainable Finance for Financial Services
Institutions, Issuers, and Public Companies.
Peringkat ESG
ESG Rating
2025 ESG Top-Rated Company
Terbaik dari 15.000 Perseroan di 42 negara versi Sustainalytics
Ranked among the top 15,000 companies in 42 countries according to Sustainaltycs
#1 #1 #75
Diantara perusahaan dari 679 perusahaan dari 16.049 perusahaan
tercatat di Indonesia dalam sektor utilitas lintas seluruh sektor
#1
global industri
among listed companies
in Indonesia out of 679 companies in out of 16,049 companies
the global utilities sector across all sectors
Dunia | Global
PT Pertamina Geothermal Energy Tbk
Page 519
Laporan Tahunan 2025 | 2025 Annual Report 517
Pada tahun 2025, PGE mendapatkan peringkat Environmental, In 2025, PT Pertamina Geothermal Energy Tbk (PGE) achieved
Social, and Governance (ESG) 7,1 (Negligible Risk) dari an Environmental, Social, and Governance (ESG) score of 7.1
Morningstar Sustainalytics, lebih baik dibandingkan tahun (Negligible Risk) from Morningstar Sustainalytics, an improvement
sebelumnya yang di posisi 8,4. Penilaian dari Sustainalytics from the 8.4 score recorded in the previous year. Based on this
tersebut menjadikan PGE sebagai perusahaan dengan risiko assessment, PGE ranked as the number one company with the
ESG terendah nomor satu di sektor utilitas (utilities) dan sub-sektor lowest ESG risk in the utilities sector and renewable energy sub-
energi terbarukan, naik dari posisi tahun sebelumnya di posisi sector, rising from third place in the previous year.
ketiga.
Penilaian Negligible Risk (sangat rendah dan bahkan dapat The exceptionally low score—classified as Negligible Risk—
diabaikan) tersebut, menjadikan PGE sebagai satu-satunya positioned PGE as the only Indonesian company included in
perusahaan Indonesia yang masuk dalam daftar “Top 50 ESG” the global “Top 50 ESG” list by Sustainalytics. In addition, the
global versi Sustainalytics, dan meraih predikat “Region Top Company received the “Region Top Rated” and “Industry Top Rated”
Rated” dan “Industry Top Rated” dalam daftar 2025 “ESG Top- distinctions in the 2025 “ESG Top-Rated Company” ranking, which
Rated Company”, atau daftar 50 perusahaan global dengan highlights the 50 companies with the best ESG ratings among
peringkat ESG terbaik dari 15 ribu perusahaan di 42 negara approximately 15,000 companies across 42 countries assessed by
yang tercakup dalam penilaian Sustainalytics. Sustainalytics.
Sustainalytics adalah lembaga penelitian, pemeringkatan dan Sustainalytics is one of the world’s leading independent ESG
penyedia data ESG independen terkemuka di dunia. Peringkat research, ratings, and data providers. Its ESG risk ratings measure
ESG dari Sustainalytics mengukur eksposur Perseroan terhadap a company’s exposure to material ESG risks and assess how
risiko ESG yang material dan seberapa baik Perseroan mengelola effectively those risks are managed. A Negligible Risk rating
risiko tersebut. Negligible Risk mengindikasikan risiko Perseroan indicates that the Company’s exposure to ESG risks is extremely low
terkait ESG yang sangat kecil, sehingga dapat diabaikan. and considered insignificant.
Dengan skor ini PGE menjadi perusahaan dengan tingkat risiko With this score, PGE ranks as the company with the lowest ESG
ESG terendah dari 679 perusahaan di industri Utilities, dan risk among 679 companies in the global utilities industry, and 75th
posisi 75 dari 16.049 perusahaan di dunia yang diperingkat out of 16,049 companies worldwide evaluated by Sustainalytics.
oleh Sustainalytics. Pencapaian tersebut meningkat dibandingkan This achievement represents a significant improvement compared to
dengan tahun 2023, dengan tingkat risiko ESG PGE terendah 2023, when PGE ranked third lowest in ESG risk among 709 utility
nomor tiga dari 709 perusahaan di industri utilitas, dan posisi companies and 129th out of 15,930 companies globally assessed
129 dari 15.930 perusahaan di dunia yang diperingkat oleh by Sustainalytics. Further information regarding PGE’s ESG rating
Sustainalytics. Penjelasan lebih lanjut terkait rating PGE oleh by Sustainalytics can be accessed through the Sustainalytics website.
Sustainalytics dapat dilihat pada situs web Sustainalytics.
Peringkat ESG
ESG Rating
2022 2023 2024 2025
5,2
Negligible Risk
8,4
Negligible Risk
7,1
Negligible Risk
7,1
Negligible Risk
(Public Rating) (Public Rating) (Public Rating) (Public Rating)
Tingkat Risiko ESG Terendah #1 Tingkat Risiko ESG Terendah #3 Tingkat Risiko ESG Terendah #1 Tingkat Risiko ESG Terendah #1
Lowest ESG Risk Level #1 Lowest ESG Risk Level #3 Lowest ESG Risk Level #1 Lowest ESG Risk Level #1
PT Pertamina Geothermal Energy Tbk
Page 520
518 Laporan Tahunan 2025 | 2025 Annual Report
Ikhtisar Kinerja
keberlanjutan
Sustainability Performance Highlights
2025
PGE mengintegrasikan keberlanjutan dalam proses bisnis PGE integrates sustainability into its business processes by
dengan memperhatikan aspek Environmental, Social, and incorporating Environmental, Social, and Governance (ESG)
Governance (ESG) sebagai bagian dari operational excellence, considerations as part of its operational excellence, while also
serta bagaimana Perseroan dapat berkontribusi terhadap contributing to the achievement of the Sustainable Development
pencapaian Tujuan Pembangunan Berkelanjutan atau Sustainable Goals (SDGs).
Development Goals (SDGs).
Perseroan menjalankan keberlanjutan melalui 4 (empat) pilar The Company implements its sustainability agenda through
strategi yaitu: Zero Emission dan Nature yang mencakup aspek four strategic pillars: Zero Emission and Nature, which address
lingkungan, People & Socioeconomics untuk aspek sosial, dan environmental aspects; People & Socioeconomics, which focus on
Transformation Catalyst yang mencakup penerapan tata kelola. social aspects; and Transformation Catalyst, which encompasses
Seluruh pilar strategi dilengkapi dengan target dan inisiatif yang governance practices. Each pillar is supported by defined targets
akan dijalankan hingga tahun 2030. and initiatives scheduled for implementation through 2030.
Informasi lebih lanjut mengenai strategi dan kinerja keberlanjutan Further information regarding PGE’s sustainability strategy and
PGE dapat dilihat pada Laporan Keberlanjutan PGE 2025 yang performance can be found in the PGE Sustainability Report 2025,
tersedia dalam buku terpisah. which is presented in a separate publication.
Jumlah Karbon Kredit Terjual
KINERJA EKONOMI Carbon Credits Sold
Economic Performance
200.764
TCO2eq
Pendapatan Produksi Uap Setara
Revenue Listrik (Operasi Sendiri) sepanjang 2025
Steam Equivalent throughout 2025
Electricity Production
(Own Operation)
USD
Distribusi Nilai Ekonomi
432.726 ribu | thousand
5.095,49 Distribution of Economic
Value
GWh USD
327.062 ribu | thousand
Laba Bersih
EBITDA Net Profit
Pelibatan Pemasok Lokal
Local Suppliers Engagement
USD
USD
330.353 137.667 ribu | thousand
91,79%
257 dari 280 Pemasok
ribu | thousand 257 from 280 Suppliers
PT Pertamina Geothermal Energy Tbk
Page 521
Laporan Tahunan 2025 | 2025 Annual Report 519
Persentase Limbah B3 yang
KINERJA LINGKUNGAN Dilakukan Reduce, Reuse,
Recycle, Recovery (4R)
Environmental Performance Percentage of Hazardous
Waste Reduced, Reused,
Recycled, and Recovered (4R)
70,51%
41,12
Intensitas Emisi
Emission Intensity
gr CO2eq/kWh Persentase Limbah Non B3
yang Dilakukan Reduce, Reuse,
Lebih Rendah Dibandingkan dengan Taksonomi 100gr CO2eq/kWh Recycle, Recovery (4R)
Lower Than the 100 gr CO2eq/kWh Taxonomy Percentage of Non Hazardous
Waste Reduced, Reused,
Recycled, and Recovered (4R)
Ton CO2eq Penghindaran Emisi, Lebih rendah
95,23% dari Emisi Pembangkit Berbahan
Bakar Fosil
Efisiensi Air di Seluruh Area PGE
of Water Efficiency Across PGE Areas 38,88%
63,58
Tons of CO2eq of Avoided Emissions, 95.23%
Lower than Fossil-Fueled Power Plant Emissions
4.291.102,02
gr CO2eq/kWh Megaliter | Megaliters 19
Program Konservasi Flora & Fauna
1.335 Spesies Flora dan Fauna
Conservation Areas Covering 1,335
Species of Flora and Fauna
Penggunaan Energi Terbarukan Intensitas Energi Total
Renewable Energy Use Energy Intensity Total
Jumlah Efluen yang Dialirkan ke
94,36% 0,04
Badan Air
Megaliters of Effluent Discharged into
Water Bodies
untuk Operasional Perseroan
for Company’s Operation
MWh 6,80
Megaliter | Megaliters
Rata-rata Jam Pelatihan Pekerja
KINERJA SOSIAL Average Hours of Worker Training
73
Social Performance
Jumlah Pekerja Representasi Pekerja Perempuan
Number of Workers Female Worker Representation
Kepuasan Pekerja
561
Employee Satisfaction
12,66%
4,35 / 5,00
Jam Kerja Aman Fatal Accident Rate Kepuasan Pelanggan
Safe Working Hours (FAR) Customer Satisfaction
6.316.295 0,00
Jam | Hours 9,722 / 100
Penerima Manfaat Program TJSL PGE Penerima Manfaat Pembangunan
Direct Beneficiaries of PGE’s CSR Infrastruktur Tingkat Perputaran (Turnover) Pekerja
Beneficiaries of Infrastructure Employee Turnover Rate
Development
31.233
orang | orang
70.781
orang | orang 0,2%
PT Pertamina Geothermal Energy Tbk
Page 522
520 Laporan Tahunan 2025 | 2025 Annual Report
Program Konservasi Yaki (Macaca nigra)
sebagai perlindungan primata endemik Sulawesi
The Yaki (Macaca nigra) Conservation Program
for the Protection of Sulawesi’s Endemic Primates
PT Pertamina Geothermal Energy Tbk
Page 523
Laporan Tahunan 2025 | 2025 Annual Report 521
Program TJSL Unggulan
Flagship CJSL Program
Area Lumut Balai: Circular Innovation
& Community Livelihood Optimization
(Ciclo Lab)
Program ini diimplementasikan dengan pendekatan Green This program is implemented using a Green Ecosystem
Ecosystem sebagai respons permasalahan pengelolaan approach in response to the challenges of organic waste
sampah organik dan keterbatasan peluang ekonomi management and limited economic opportunities for the
masyarakat di Desa Pulau Panggung, Kecamatan Semende community in Pulau Panggung Village, Semende Darat Laut
Darat Laut, Kabupaten Muara Enim. Untuk itu, PGE mengelola District, Muara Enim Regency. To achieve this, PGE processes
sampah organik rumah tangga yang dimanfaatkan sebagai household organic waste and uses it as maggot feed, which is
pakan maggot yang selanjutnya digunakan sebagai bahan then used as raw material for laying hen feed.
baku pakan ternak ayam petelur.
Area Lahendong: Maesa Manguni
PGE mengimplementasikan program ini sejak 2023 di Area PGE has implemented this program since 2023 in the
Lahendong sebagai respons atas degradasi lahan dan Lahendong Area in response to land degradation and low
rendahnya produktivitas pertanian. Melalui pendekatan agricultural productivity. Through the Geothermal Bioeconomy
Geothermal Bioeconomy for Sustainable Agriculture, PGE for Sustainable Agriculture approach, PGE integrates
mengintegrasikan pemanfaatan panas bumi tidak hanya geothermal energy utilization not only for electricity generation
untuk pembangkitan listrik, tetapi juga sebagai solusi inovatif but also as an innovative solution to support sustainable
dalam mendukung pertanian berkelanjutan dan ketahanan agriculture and local food security.
pangan lokal.
PT Pertamina Geothermal Energy Tbk
Page 524
522 Laporan Tahunan 2025 | 2025 Annual Report
Area Kamojang - Kanyaah
Kamojang Agri-Aquaculture, Energized by Geothermal for Kamojang Agri-Aquaculture, Energized by Geothermal
All’s Harmony (Kanyaah) merupakan model pembangunan for All’s Harmony (Kanyaah) is a local culture-based social
sosial berbasis budaya lokal yang adaptif terhadap development model that is adaptive to climate change. It
perubahan iklim, melalui inovasi pemanfaatan langsung utilizes the innovation of direct-use geothermal energy and a
energi panas bumi (direct-use geothermal) dan pendekatan circular economy approach to strengthen the socio-economic
ekonomi sirkular untuk memperkuat ketahanan sosial- resilience of the Kamojang highland community in Bandung.
ekonomi masyarakat dataran tinggi Kamojang, Bandung.
Program ini dikembangkan melalui 3 (tiga) pilar utama: This program is developed through three main pillars:
Geothermal Organic Fertilizer (GeO-Fert), Geothermal Geothermal Organic Fertilizer (GeO-Fert), Geothermal
Farming, Geothermal Snack. Farming, and Geothermal Snacks.
Area Ulubelu - Sai Bumi Jejama
Program ini merupakan inovasi sosial terintegrasi PGE di This program is an integrated social innovation by PGE in the
wilayah Ulubelu untuk menjawab tantangan pemenuhan Ulubelu area to address the challenges of nutritional security,
gizi, keterbatasan ekonomi dan lahan, fluktuasi iklim, economic and land constraints, climate fluctuations, and the
serta pemanfaatan sisa energi panas bumi dan sampah utilization of residual geothermal energy and operational
operasional. Melalui pendekatan geothermal solutions, waste. Through a geothermal solutions approach, the program
program ini membangun sistem pertanian berkelanjutan builds a sustainable agricultural system from upstream to
dari hulu ke hilir dan berfokus pada kelompok rentan downstream and focuses on vulnerable groups such as women,
seperti perempuan, anak di bawah garis merah (BGM), children below the red line (BGM), elderly people at risk of
lansia berisiko hipertensi, pemuda pengangguran, dan hypertension, unemployed youth, and people with disabilities.
penyandang disabilitas.
PT Pertamina Geothermal Energy Tbk
Page 525
Laporan Tahunan 2025 | 2025 Annual Report 523
Area Karaha: Eco Eduwisata
Kampung Kopi dan Inovasi
Pupuk Compost Brine (COMBINE)
Program ini dikelola Kelompok Arjuna Jaya Sena Farm This program is managed by the Arjuna Jaya Sena Farm
di Kampung Ciselang, Desa Kadipaten, Tasikmalaya, Group in Ciselang Hamlet, Kadipaten Village, Tasikmalaya,
sebagai respons atas keterbatasan akses pupuk subsidi in response to limited access to subsidized fertilizers, which
yang membuat petani bergantung pada pupuk nonsubsidi forces farmers to rely on high-cost non-subsidized fertilizers.
berbiaya tinggi. PGE mengembangkan inovasi pupuk PGE developed a locally sourced fertilizer innovation utilizing
berbasis potensi lokal dengan memanfaatkan mineral brine geothermal brine minerals and wild grasses from its operational
geothermal dan rumput liar dari area operasional (±110 ton area (approximately 110 tons per year), in collaboration with
per tahun), bekerja sama dengan Universitas Siliwangi. Uji Siliwangi University. Trials on chili peppers and coffee showed
coba pada cabai dan kopi menunjukkan hasil setara pupuk yields equivalent to chemical fertilizers and manure, while also
kimia dan kandang, sekaligus menjadi alternatif NPK yang providing a more affordable alternative to NPK fertilizers and
lebih terjangkau dan mengurangi ketergantungan pada reducing dependence on chemical fertilizers.
pupuk kimia.
PT Pertamina Geothermal Energy Tbk
Page 526
524 Laporan Tahunan 2025 | 2025 Annual Report
KINERJA TATA KELOLA PROPER* EMAS
GOLD PROPER
Governance Performance
Penilaian GCG Berdasarkan Asean Corporate
14Area Kamojang
Kali Berturut-turut
Consecutive Times
Parameter BUMN Governance Scorecard
3
GCG Assessment based on
SOE Parameters Kali Berturut-turut
Consecutive Times
93,85/100 122,52
Area Ulubelu
* Program Penilaian Peringkat Kinerja
Diverifikasi oleh lembaga independen Perusahaan
“LEADERSHIP IN CORPORATE
Verified by an Independent Institution * Public Disclosure Program for Environmental
GOVERNANCE” Compliance
Tingkat Kepatuhan Insiden Keamanan Siber
LHKPN* Cybersecurity Incidents
Compliance Level
NIHIL
LHKPN
100%
NIL
ISO370001:2006
Penerapan Sistem Manajemen
Anti Penyuapan
Implementation of the
Anti-Bribery Management System
* State Official Wealth Report
2025 ESG Top-Rated Company
7,1
Terbaik dari 15.000 Perseroan di 42 negara versi Sustainalytics
Ranked among the top 15,000 companies in 42 countries according to Sustainaltycs
Sustainalytics ESG Rating #1 #1 #75
Negligible risk
Diantara perusahaan dari 679 perusahaan dari 16.049 perusahaan
tercatat di Indonesia dalam sektor utilitas lintas seluruh sektor
global industri
among listed companies
in Indonesia out of 679 companies in out of 16,049 companies
the global utilities sector across all sectors
PT Pertamina Geothermal Energy Tbk
Page 527
Laporan Tahunan 2025 | 2025 Annual Report 525
PT Pertamina Geothermal Energy Tbk
Page 528
526 Laporan Tahunan 2025 | 2025 Annual Report
Surat Pernyataan
Tanggung Jawab
Liability Statement Letter
Surat Pernyataan Dewan Komisaris tentang Tanggung Jawab atas Laporan Tahunan
PT Pertamina Geothermal Energy Tbk Tahun Buku 2025
The Board of Commissioners’ Statement of Responsibility for the 2025 Annual Report
of PT Pertamina Geothermal Energy Tbk
Kami yang bertanda tangan di bawah ini menyatakan bahwa We, the undersigned, testify that all information contained in the
semua informasi dalam Laporan Tahunan PT Pertamina 2025 Annual Report of PT Pertamina Geothermal Energy Tbk has
Geothermal Energy Tbk tahun 2025 telah dimuat secara lengkap been presented completely. We assume full responsibility for the
dan bertanggung jawab penuh atas kebenaran isi Laporan content accuracy of the Company’s 2025 Annual Report
Tahunan tahun 2025 Perseroan.
Demikian pernyataan ini dibuat dengan sebenar-benarnya. This statement is hereby made in all truthfulness.
Jakarta, 30 Maret 2026 Jakarta, 30 March 2026
Dewan Komisaris
The Board of Commissioners
Gigih Udi Utomo
Komisaris Utama
President Commissioner
John Anis Abdulla Zayed
Komisaris Komisaris
Commissioner Commissioner
Abdul Musawir Yahya Mohammad Firmansyah
Komisaris Independen Komisaris Independen
Independent Commissioner Independent Commissioner
PT Pertamina Geothermal Energy Tbk
Page 529
Laporan Tahunan 2025 | 2025 Annual Report 527
Surat Pernyataan Direksi tentang Tanggung Jawab atas Laporan Tahunan
PT Pertamina Geothermal Energy Tbk Tahun Buku 2025
The Board of Directors’ Statement of Responsibility for the 2025 Annual Report of
PT Pertamina Geothermal Energy Tbk
Kami yang bertanda tangan di bawah ini menyatakan bahwa We, the undersigned, testify that all information contained in the
semua informasi dalam Laporan Tahunan PT Pertamina 2025 Annual Report of PT Pertamina Geothermal Energy Tbk has
Geothermal Energy Tbk tahun 2025 telah dimuat secara lengkap been presented completely. We assume full responsibility for the
dan bertanggung jawab penuh atas kebenaran isi Laporan content accuracy of the Company’s 2025 Annual Report
Tahunan tahun 2025 Perseroan.
Demikian pernyataan ini dibuat dengan sebenar-benarnya. This statement is hereby made in all truthfulness.
Jakarta, 30 Maret 2026 Jakarta, 30 March 2026
Direksi
The Board of Directors
Ahmad Yani
Direktur Utama
President Director
Edwil Suzandi Yurizki Rio Andi Joko Nugroho
Direktur Eksplorasi & Pengembangan Direktur Keuangan Direktur Operasi
Director of Exploration & Development Director of Finance Director of Operation
PT Pertamina Geothermal Energy Tbk
Page 530
Laporan Keuangan Financial Statements
Page 531
Page 532
The original consolidated financial statements included herein are in
the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
LAPORAN KEUANGAN KONSOLIDASIAN CONSOLIDATED FINANCIAL STATEMENTS
TANGGAL 31 DESEMBER 2025 DAN AS OF DECEMBER 31, 2025 AND
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR THEN ENDED
PADA TANGGAL TERSEBUT WITH INDEPENDENT AUDITOR’S REPORT
BESERTA LAPORAN AUDITOR INDEPENDEN
Daftar Isi Table of Contents
Lampiran/
Schedule
Surat Pernyataan Direksi Statement of the Board of Directors
Laporan Auditor Independen Independent Auditor’s Report
Laporan Posisi Keuangan Consolidated Statement of
Konsolidasian 1/1 - 3 Financial Position
Laporan Laba Rugi dan Penghasilan Consolidated Statement
Komprehensif Lain of Profit or Loss and
Konsolidasian 2/1 - 2 Other Comprehensive Income
Laporan Perubahan Ekuitas Consolidated Statement of
Konsolidasian 3 Changes in Equity
Laporan Arus Kas Consolidated
Konsolidasian 4 Statement of Cash Flows
Catatan atas Laporan Keuangan Notes to the Consolidated
Konsolidasian 5/1 - 116 Financial Statements
***************************
Page 533
Page 534
i
Page 535
A member firm of Ernst & Young Global Limited
ii
Page 536
A member firm of Ernst & Young Global Limited
iii
Page 537
A member firm of Ernst & Young Global Limited
iv
Page 538
A member firm of Ernst & Young Global Limited
v
Page 539
A member firm of Ernst & Young Global Limited
vi
Page 540
A member firm of Ernst & Young Global Limited
vii
Page 541
A member firm of Ernst & Young Global Limited
viii
Page 542
A member firm of Ernst & Young Global Limited
ix
Page 543
A member firm of Ernst & Young Global Limited
x
Page 544
The original consolidated financial statements included herein are in
the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 1/1 Schedule
LAPORAN POSISI KEUANGAN CONSOLIDATED STATEMENT OF
KONSOLIDASIAN FINANCIAL POSITION
TANGGAL 31 DESEMBER 2025 AS OF DECEMBER 31, 2025
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar,
kecuali dinyatakan lain) unless otherwise stated)
31 Desember/ 31 Desember/
Catatan/ December 31, December 31,
Notes 2025 2024
ASET ASSETS
ASET LANCAR CURRENT ASSETS
Kas dan setara kas 5,26e 718.499 655.191 Cash and cash equivalents
Kas yang dibatasi
penggunaannya 489 237 Restricted cash
Piutang usaha 6a Trade receivables
- Pihak yang berelasi 26f 122.757 124.627 Related parties -
- Pihak ketiga 3.472 3.498 Third parties -
Piutang lain-lain 6b Other receivables
- Pihak yang berelasi 26g 5.051 4.041 Related parties -
- Pihak ketiga 137 98 Third parties -
Persediaan, bersih 7 27.970 18.486 Inventories, net
Pajak pertambahan nilai (“PPN”) Reimbursable
yang dapat ditagihkan value added tax
kembali - bagian lancar 25a 411 17.175 (“VAT”) - current portion
Pajak dibayar di muka 25b 551 - Prepaid taxes
Biaya dibayar di muka 8 1.362 122 Prepayments
Aset lain-lain, bersih 274 5.080 Other assets, net
JUMLAH ASET LANCAR 880.973 828.555 TOTAL CURRENT ASSETS
ASET TIDAK LANCAR NON-CURRENT ASSET
Kas yang dibatasi
penggunaannya - 185 Restricted cash
Piutang lain-lain pihak Other receivables
yang berelasi 6b,26g 6.934 7.529 related parties
Aset tetap, bersih 9 2.000.149 2.024.607 Fixed assets, net
Aset hak guna, bersih 10 3.621 4.215 Right-of-use assets, net
Investasi pada ventura bersama 11 12.133 12.093 Investment in joint ventures
PPN yang dapat ditagihkan Reimbursable
kembali - bagian tidak lancar 25a 100.835 98.460 VAT - non-current portion
Aset keuangan yang dinilai pada Financial assets measures at
nilai wajar melalui pendapatan fair value through other
komprehensif lain 12,29,30 29.764 21.716 comprehensive income
Aset lain-lain, bersih 42 42 Other assets, net
JUMLAH ASET TIDAK TOTAL NON-CURRENT
LANCAR 2.153.478 2.168.847 ASSETS
JUMLAH ASET 3.034.451 2.997.402 TOTAL ASSETS
Catatan atas laporan keuangan konsolidasian terlampir The accompanying notes to the consolidated financial statements
merupakan bagian yang tidak terpisahkan dari form an integral part of these
laporan keuangan konsolidasian secara keseluruhan. consolidated financial statements.
Page 545
The original consolidated financial statements included herein are in
the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 1/2 Schedule
LAPORAN POSISI KEUANGAN CONSOLIDATED STATEMENT OF
KONSOLIDASIAN FINANCIAL POSITION
TANGGAL 31 DESEMBER 2025 (lanjutan) AS OF DECEMBER 31, 2025 (continued)
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar,
kecuali dinyatakan lain) unless otherwise stated)
31 Desember/ 31 Desember/
Catatan/ December 31, December 31,
Notes 2025 2024
LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY
LIABILITAS LIABILITIES
LIABILITAS JANGKA PENDEK CURRENT LIABILITIES
Utang usaha 13 Trade payables
- Pihak yang berelasi 26h 2.168 2.234 Related parties -
- Pihak ketiga 86.362 94.561 Third parties -
Utang lain-lain pihak berelasi 26i 7.275 10.137 Other payables related parties
Liabilitas kontrak forward 14 2.056 - Forward contract liability
Pinjaman jangka panjang yang
akan jatuh tempo dalam Current maturities
satu tahun 26j 15.621 15.172 of long-term loans
Liabilitas sewa yang akan jatuh Current maturities
tempo dalam satu tahun 10 1.712 1.402 of lease liabilities
Utang pajak 25c 16.969 5.755 Taxes payable
Biaya yang masih harus dibayar 15,26k 66.153 88.053 Accrued expenses
Imbalan kerja jangka pendek 17a 15.717 9.694 Short-term employee benefits
Pendapatan tangguhan 266 288 Deferred revenue
JUMLAH LIABILITAS TOTAL CURRENT
JANGKA PENDEK 214.299 227.296 LIABILITIES
LIABILITAS JANGKA NON-CURRENT
PANJANG LIABILITIES
Liabilitas pajak Deferred tax
tangguhan, bersih 25e 25.748 21.890 liabilities, net
Liabilitas sewa -
setelah dikurangi bagian
yang jatuh tempo Lease liabilities, net of
dalam satu tahun 10 1.735 2.549 current maturity
Utang obligasi 16 399.050 398.643 Bonds payable
Pinjaman jangka panjang
setelah dikurangi bagian
yang jatuh tempo Long-term loans, net of
dalam satu tahun 26j 334.760 328.047 current maturities
Imbalan kerja jangka panjang 17b 11.388 9.019 Long-term employee benefits
Kewajiban jangka panjang lainnya 17c 1.908 1.206 Other long-term liabilities
JUMLAH LIABILITAS TOTAL NON-CURRENT
JANGKA PANJANG 774.589 761.354 LIABILITIES
JUMLAH LIABILITAS 988.888 988.650 TOTAL LIABILITIES
Catatan atas laporan keuangan konsolidasian terlampir The accompanying notes to the consolidated financial statements
merupakan bagian yang tidak terpisahkan dari form an integral part of these
laporan keuangan konsolidasian secara keseluruhan. consolidated financial statements.
Page 546
The original consolidated financial statements included herein are in
the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 1/3 Schedule
LAPORAN POSISI KEUANGAN CONSOLIDATED STATEMENT OF
KONSOLIDASIAN FINANCIAL POSITION
TANGGAL 31 DESEMBER 2025 (lanjutan) AS OF DECEMBER 31, 2025 (continued)
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar,
kecuali dinyatakan lain) unless otherwise stated)
31 Desember/ 31 Desember/
Catatan/ December 31, December 31,
Notes 2025 2024
LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY
(lanjutan) (continued)
EKUITAS EQUITY
Ekuitas yang dapat Equity attributable
diatribusikan kepada to owners of
pemilik entitas induk the parent entity
Modal saham Share capital
Modal dasar – 124.184.568.000 Authorized – 124,184,568,000
saham dengan nilai nominal Rp500 shares with par value of Rp500
pada 31 Desember 2025 dan as of December 31, 2025 and
2024 (dalam nilai penuh) 2024 (in full amount)
Modal ditempatkan dan disetor Issued and paid-up capital
41.815.763.396 saham pada 41,815,763,396 shares
tanggal 31 Desember 2025 as of December 31, 2025
(2024: 41.508.024.149 saham) 18a 1.483.513 1.474.494 (2024: 41,508,024,149 shares)
Tambahan modal disetor 18b 211.370 188.293 Additional paid in capital
Pendapatan komprehensif Other comprehensive income:
lainnya: pengukuran kembali remeasurement of fair value
nilai wajar atas investasi ekuitas 19.640 14.328 on equity investment
Saldo laba 18c Retained earnings
- Ditentukan penggunaannya 191.533 167.438 Appropriated -
- Belum ditentukan penggunaannya 139.953 164.615 Unappropriated -
Jumlah ekuitas yang dapat Total equity attributable
diatribusikan kepada to owners of
pemilik entitas induk 2.046.009 2.009.168 the parent entity
Kepentingan non-pengendali 19 (446) (416) Non-controlling interest
JUMLAH EKUITAS 2.045.563 2.008.752 TOTAL EQUITY
JUMLAH LIABILITAS TOTAL LIABILITIES
DAN EKUITAS 3.034.451 2.997.402 AND EQUITY
Catatan atas laporan keuangan konsolidasian terlampir The accompanying notes to the consolidated financial statements
merupakan bagian yang tidak terpisahkan dari form an integral part of these
laporan keuangan konsolidasian secara keseluruhan. consolidated financial statements.
Page 547
The original consolidated financial statements included herein are in
the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 2/1 Schedule
LAPORAN LABA RUGI DAN PENGHASILAN CONSOLIDATED STATEMENTS OF PROFIT OR LOSS
KOMPREHENSIF LAIN KONSOLIDASIAN AND OTHER COMPREHENSIVE INCOME
UNTUK TAHUN YANG BERAKHIR PADA FOR THE YEAR ENDED
TANGGAL 31 DESEMBER 2025 DECEMBER 31, 2025
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar,
kecuali dinyatakan lain) unless otherwise stated)
31 Desember/ 31 Desember/
Catatan/ December 31, December 31,
Notes 2025 2024
PENDAPATAN 20,26b 432.726 407.120 REVENUE
BEBAN POKOK
PENDAPATAN DAN COST OF REVENUE
BEBAN LANGSUNG AND OTHER DIRECT
LAINNYA 21,26c,37 (199.662) (166.721) COST
LABA BRUTO 233.064 240.399 GROSS PROFIT
Beban umum dan General and administrative
administrasi 22,37 (30.684) (29.671) expenses
Pendapatan lain-lain, bersih 24a 3.191 (457) Other income, net
LABA USAHA 205.571 210.271 OPERATING PROFIT
Pendapatan keuangan 23a 28.221 33.565 Finance income
(Rugi)/laba selisih kurs 24b (7.634) 15.984 (Loss)/gain foreign exchange
Bagian laba dari ventura bersama 11 40 453 Share of profit in joint ventures
Beban keuangan 23b (30.284) (32.114) Finance costs
LABA SEBELUM BEBAN PROFIT BEFORE
PAJAK PENGHASILAN 195.914 228.159 INCOME TAX EXPENSE
BEBAN PAJAK
PENGHASILAN 25d (58.247) (67.857) INCOME TAX EXPENSE
LABA TAHUN BERJALAN 137.667 160.302 PROFIT FOR THE YEAR
Penghasilan komprehensif lain Other comprehensive income
Pos-pos yang tidak akan Items that will not be
direklasifikasi ke laba rugi reclassified to profit or loss
Pengukuran kembali atas Net remeasurement of
liabilitas imbalan pasti neto (1.864) 1.664 defined benefits liability
Keuntungan/(kerugian) nilai wajar aset Net fair value gain/(loss) on
bersih atas investasi ekuitas 5.312 (4.812) equity investment
PENGHASILAN
KOMPREHENSIF LAIN OTHER COMPREHENSIVE
NETO SETELAH PAJAK 3.448 (3.148) INCOME, NET OF TAX
JUMLAH PENGHASILAN
KOMPREHENSIF TOTAL COMPREHENSIVE
TAHUN BERJALAN 141.115 157.154 INCOME FOR THE YEAR
Catatan atas laporan keuangan konsolidasian terlampir The accompanying notes to the consolidated financial statements
merupakan bagian yang tidak terpisahkan dari form an integral part of these
laporan keuangan konsolidasian secara keseluruhan. consolidated financial statements.
Page 548
The original consolidated financial statements included herein are in
the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 2/2 Schedule
LAPORAN LABA RUGI DAN PENGHASILAN CONSOLIDATED STATEMENTS OF PROFIT OR LOSS
KOMPREHENSIF LAIN KONSOLIDASIAN AND OTHER COMPREHENSIVE INCOME
UNTUK TAHUN YANG BERAKHIR PADA FOR THE YEAR ENDED
TANGGAL 31 DESEMBER 2025 (lanjutan) DECEMBER 31, 2025 (continued)
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar,
kecuali dinyatakan lain) unless otherwise stated)
31 Desember/ 31 Desember/
Catatan/ December 31, December 31
Notes 2025 2024
LABA TAHUN BERJALAN
YANG DAPAT PROFIT FOR THE YEAR
DIATRIBUSIKAN KEPADA: ATTRIBUTABLE TO:
Pemilik entitas induk 137.697 160.494 Owners of the parent entity
Kepentingan non-pengendali (30) (192) Non-controlling interest
Jumlah 137.667 160.302 Total
TOTAL PENGHASILAN
KOMPREHENSIF TAHUN TOTAL COMPREHENSIVE
BERJALAN YANG DAPAT INCOME FOR THE YEAR
DIATRIBUSIKAN KEPADA: ATTRIBUTABLE TO:
Pemilik entitas induk 141.145 157.346 Owners of the parent entity
Kepentingan non-pengendali (30) (192) Non-controlling interest
Jumlah 141.115 157.154 Total
LABA PER SAHAM DASAR BASIC EARNINGS PER SHARE
DIATRIBUSIKAN KEPADA ATTRIBUTABLE TO
PEMILIK ENTITAS INDUK OWNERS OF THE PARENT
(NILAI PENUH) 28 0,0033 0,0039 ENTITY (FULL AMOUNT)
LABA PER SAHAM DILUSIAN DILUTIVE EARNINGS PER SHARE
DIATRIBUSIKAN KEPADA ATTRIBUTABLE TO
PEMILIK ENTITAS INDUK OWNERS OF THE PARENT
(NILAI PENUH) 28 0,0033 0,0038 ENTITY (FULL AMOUNT)
Catatan atas laporan keuangan konsolidasian terlampir The accompanying notes to the consolidated financial statements
merupakan bagian yang tidak terpisahkan dari form an integral part of these
laporan keuangan konsolidasian secara keseluruhan. consolidated financial statements.
Page 549
Page 550
The original consolidated financial statements included herein are in
the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 4 Schedule
LAPORAN ARUS KAS KONSOLIDASIAN CONSOLIDATED STATEMENTS OF CASH FLOWS
UNTUK TAHUN YANG BERAKHIR FOR THE YEAR ENDED
PADA TANGGAL 31 DESEMBER 2025 DECEMBER 31, 2025
(Disajikan dalam ribuan dolar Amerika Serikat, kecuali (Expressed in thousands of United States dollar,
dinyatakan lain) unless otherwise stated)
31 Desember/ 31 Desember/
Catatan/ December 31, December 31,
Notes 2025 2024
ARUS KAS DARI CASH FLOWS FROM
AKTIVITAS OPERASI OPERATING ACTIVITIES
Penerimaan kas dari pelanggan 839.670 796.438 Cash receipts from customers
Penerimaan kas dari pendapatan bunga 29.416 36.559 Cash receipts interest income
Pembayaran kas kepada pemasok (497.964) (478.244) Cash payments to suppliers
Pembayaran kas atas pajak penghasilan (44.356) (71.398) Cash payments of income tax
Pembayaran kas kepada karyawan (31.071) (32.363) Cash payments to employees
(Pembayaran)/penerimaan kas Cash (payments)/receipts
antar pihak berelasi (12.285) 4.437 between related parties
Pembayaran premi asuransi Cash payments of insurance
dan klaim lainnya (5.322) (900) premium and others claim
Pembayaran kas yang
Dibatasi penggunaannya (183) (308) Addition in restricted cash
Penerimaan kas Cash receipts from
dari aktivitas operasi lainnya 35.618 4.063 other operating activities
Arus kas bersih yang diperoleh Net cash flows provided by
dari aktivitas operasi 313.523 258.284 operating activities
ARUS KAS UNTUK AKTIVITAS CASH FLOWS FOR
INVESTASI INVESTING ACTIVITIES
Penerimaan dividen kas dari aktivitas Cash dividends receipts from
investasi lainnya 1.994 2.574 other investment activities
Penambahan investasi di anak perusahaan Additional investment in
dan perusahaan asosiasi - (100) subsidiaries and associates
Penambahan aset tetap (84.401) (103.408) Additions to fixed assets
Arus kas bersih yang digunakan Net cash flows used in
untuk aktivitas investasi (82.407) (100.934) investing activities
ARUS KAS DARI AKTIVITAS CASH FLOWS FROM
PENDANAAN FINANCING ACTIVITIES
Penerimaan atas penerbitan saham 18.588 4.752 Cash receipt from shares issuance
Pembayaran kas atas dividen (136.400) (128.400) Cash paid of dividend
Pembayaran pinjaman jangka panjang (25.924) (14.973) Cash payments of long term loan
Pembayaran beban keuangan (27.167) (50.596) Cash payments of financial expense
Pembayaran liabilitas sewa 10 (1.641) (1.922) Payments of lease liabilities
Arus kas bersih yang digunakan untuk Net cash flows used in
aktivitas pendanaan (172.544) (191.139) in financing activities
NET INCREASE/(DECREASE)
KENAIKAN/(PENURUNAN) NETO CASH AND CASH
KAS DAN SETARA KAS 58.572 (33.789) EQUIVALENTS
CASH AND CASH
SALDO KAS DAN SETARA EQUIVALENTS AT THE
KAS PADA AWAL TAHUN 655.191 677.717 BEGINNING OF THE YEAR
EFEK PERUBAHAN EFFECT OF EXCHANGE RATE
NILAI KURS PADA CHANGES ON CASH AND
KAS DAN SETARA KAS 4.736 11.263 CASH EQUIVALENTS
CASH AND CASH
SALDO KAS DAN SETARA EQUIVALENTS AT THE
KAS PADA AKHIR TAHUN 718.499 655.191 END OF THE YEAR
Catatan atas laporan keuangan konsolidasian terlampir The accompanying notes to the consolidated financial statements
merupakan bagian yang tidak terpisahkan dari form an integral part of these
laporan keuangan konsolidasian secara keseluruhan. consolidated financial statements.
Page 551
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/1 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
1. INFORMASI UMUM 1. GENERAL INFORMATION
a. Perusahaan a. The Company
(i) Pendirian Perusahaan (i) Establishment of the Company
PT Pertamina Geothermal Energy PT Pertamina Geothermal Energy (the
(“Perusahaan”) didirikan berdasarkan Akta “Company”) was established on
Notaris No. 10 tanggal 12 Desember 2006 December 12, 2006, by Notarial Deed No.
oleh Marianne Vincentia Hamdani, S.H. 10 of Marianne Vincentia Hamdani, S.H.
Akta pendirian Perusahaan telah mendapat The deed of establishment was approved by
pengesahan dari Menteri Hukum dan Hak the Ministry of Law and Human Rights in
Asasi Manusia dengan surat keputusan No. decision letter No. W7-00089.HT.01.01-
W7-00089.HT.01.01-TH.2007 tanggal 3 TH.2007 dated January 3, 2007, and was
Januari 2007 serta telah diumumkan dalam published in the State Gazette No. 29
Berita Negara No. 29 Tambahan No. 3467 Supplement No. 3467 dated
tanggal 10 April 2007. April 10, 2007.
Anggaran Dasar Perusahaan telah The Company's Articles of Association have
mengalami beberapa kali perubahan. undergone several changes. The latest
Perubahan Anggaran Dasar yang terakhir amendments are stated in Deed Number
dituangkan dalam Akta Nomor 33 tanggal 33, dated August 28, 2025 with notification
28 Agustus 2025 serta telah mendapat receipt from the Minister of Law and Human
penerimaan pemberitahuan dari Menteri Rights of the Republic of Indonesia via letter
Hukum dan Hak Asasi Manusia Republik No. AHU-AH.01.09-0331109, dated August
Indonesia melalui surat No. AHU-AH.01.09- 28, 2025.
0331109 tanggal 28 Agustus 2025.
Perusahaan bergerak di bidang panas bumi The Company was established to engage
dari sisi hulu dan atau sisi hilir baik di dalam in geothermal activities, including
maupun di luar negeri serta kegiatan usaha in the upstream and/or downstream sectors,
lain yang terkait atau menunjang kegiatan in Indonesia and abroad, and other related
usaha di bidang panas bumi tersebut. or supporting business activities in the field
Perusahaan mulai beroperasi secara of geothermal energy. The Company
komersial pada tanggal 3 Januari 2007. started its commercial operations on
January 3, 2007.
Pendirian Perusahaan merupakan tindak The Company’s establishment is related to
lanjut dari diterbitkannya Undang-undang Law No. 22 of 2001, dated November 23,
No. 22 Tahun 2001 tanggal 23 November 2001, regarding Oil and Gas, and
2001 tentang Minyak dan Gas Bumi dan Government Regulation No. 31 of 2003,
Peraturan Pemerintah No. 31 Tahun 2003 dated June 18, 2003, regarding the
tanggal 18 Juni 2003 tentang Pengalihan transformation of Perusahaan
Bentuk Perusahaan Pertambangan Minyak Pertambangan Minyak dan Gas Bumi
dan Gas Bumi Negara (PERTAMINA, Negara (PERTAMINA, the “former
selanjutnya disebut (”Pertamina Lama”) Pertamina Entity”) into PT Pertamina
menjadi PT Pertamina (Persero) (Persero) (”Pertamina”).
(”Pertamina”).
Page 552
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/2 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
1. INFORMASI UMUM (lanjutan) 1. GENERAL INFORMATION (continued)
a. Perusahaan (lanjutan) a. The Company (continued)
(i) Pendirian Perusahaan (lanjutan) (i) Establishment of the Company
(continued)
Berdasarkan ketentuan Pasal 7 Peraturan According to Article 7 of Government
Pemerintah No. 31 Tahun 2003 tentang Regulation No. 31 of 2003, regarding the
pengalihan bentuk Pertamina Lama transformation of the former Pertamina
menjadi Perusahaan Perseroan (Persero), Entity into a limited liability company,
dalam jangka waktu paling lama dua tahun Pertamina should transfer all its geothermal
sejak Pertamina didirikan, kegiatan usaha activities to a subsidiary within two years of
bidang panas bumi yang dilaksanakan oleh its establishment. To satisfy this
Pertamina beralih kepada anak perusahaan requirement, Pertamina has established the
yang dibentuknya. Untuk memenuhi Company to continue its geothermal
ketentuan ini, Pertamina mendirikan business activities.
Perusahaan untuk meneruskan kegiatan
usaha panas bumi.
Pertamina membentuk subholding Power, Pertamina formed a sub-holding of Power,
New and Renewable Energy (“PNRE”) New and Renewable Energy (“PNRE”) in
dalam rangka mengembangkan sektor order to develop the electricity and new &
pembangkitan listrik dan energi baru & renewable energy generation sector on
terbarukan pada 12 Juni 2020 dimana June 12, 2020, the Company was
Perusahaan ditetapkan menjadi anak determined to be a subsidiary of the
perusahaan subholding tersebut. Status subholding. The legal end-state of the
hukum atas pembentukan subholding PNRE subholding formation was August 1,
PNRE disahkan pada 1 Agustus 2021. 2021.
Entitas induk Perusahaan adalah The Company’s parent is PT Pertamina
PT Pertamina Power Indonesia dan entitas Power Indonesia and its ultimate parent is
induk terakhirnya adalah Pemerintah the Government of the Republic of
Republik Indonesia. Indonesia.
Dalam Laporan keuangan konsolidasian ini, In this consolidated financial statement, the
Perusahaan dan entitas anaknya bersama- Company and its subsidiaries are together
sama disebut “Grup”. referred to as the “Group”.
(ii) Penawaran Umum Efek Perusahaan (ii) The Company’s Public Offering
Pada tanggal 16 Februari 2023, On February 16, 2023, the Company
Perusahaan mendapatkan Surat obtained Notification Letter regarding the
Pemberitahuan Efektif Pernyataan Effective Statement of Registration No. S-
Pendaftaran No. S-43/D.04/2023 atas 43/D.04/2023 arising from Initial Public
Penawaran Umum Perdana Saham dari Offering of Share from Financial Services
Otoritas Jasa Keuangan (“OJK”). Authority (“OJK”).
Perusahaan efektif mencatatkan The Company registered its initial public
penawaran umum perdana saham pada offering in the Indonesia Stock Exchange
Bursa Efek Indonesia per tanggal 24 effective February 24, 2023, with
Februari 2023, dengan jumlah saham yang 10,350,000,000 shares released to the
dilepas ke publik sebanyak 10.350.000.000 public, with a nominal value of Rp500 per
lembar, dengan nilai nominal Rp500 setiap share and offering value of Rp875 per share
saham dan harga penawaran sebesar and a total proceeds value of
Rp875 per lembar saham serta total nilai Rp9,056,250,000,000 (full amount) before
proceeds sebesar Rp9.056.250.000.000 issuance and underwriting costs.
(nilai penuh) sebelum biaya penerbitan dan
penjaminan emisi.
Page 553
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/3 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
1. INFORMASI UMUM (lanjutan) 1. GENERAL INFORMATION (continued)
a. Perusahaan (lanjutan) a. Company (continued)
(iii) Surat Utang Global Berwawasan (iii) Global Green Bond
Lingkungan
Pada tanggal 27 April 2023, Perusahaan On April 27, 2023, the Company conducted
menerbitkan surat utang berwawasan a public offering global green bond of Senior
lingkungan Senior Unsecured Fixed Rate Unsecured Fixed Rate Notes with nominal
Notes dengan nilai nominal sebesar value of US$400,000,000 (total amount)
US$400.000.000 (nilai penuh) dengan with an interest rate of 5.15% and a due
tingkat Bunga 5,15% dan jatuh tempo date on April 27, 2028, which was issued on
27 April 2028 yang diterbitkan di Bursa Efek the Singapore Stock Exchange (SGX-ST).
Singapura (SGX-ST). Seluruh dana hasil All proceeds from the bond issuance were
penerbitan surat utang tersebut digunakan used to repay bank loans.
untuk membayar pinjaman bank.
Penerbitan surat utang oleh Perseroan di The issuance of bonds by the Company
luar Indonesia sesuai dengan ketentuan outside Indonesia is under the provisions of
Rule 144A dan Regulation S dari U.S. Rule 144A and Regulation S of the U.S.
Securities Act. Surat Utang tidak ditawarkan Securities Act. The bonds are not offered
melalui Penawaran Umum sebagaimana through a Public Offering as referred to in
dimaksud dalam undang-undang pasar the capital market law (UUPM) and are not
modal (UUPM) dan tidak dicatatkan pada listed on the Indonesia Stock Exchange.
Bursa Efek Indonesia. Surat utang The bonds are made without going through
dilakukan tanpa melalui penawaran umum a public offering outside the territory of
di luar wilayah Indonesia dan tidak Indonesia. They are not offered to
ditawarkan kepada investor Indonesia baik Indonesian investors, whether individuals,
individu, institusi maupun bentuk hukum institutions or other legal forms, so they are
lainnya, sehingga tidak wajib memenuhi not required to fulfil the provisions in
ketentuan dalam Peraturan Otoritas Jasa Financial Services Authority Regulations
Keuangan (“POJK”) No.30/2019 (“POJK”) No.30/2019 as confirmed in OJK
sebagaimana ditegaskan dalam Surat OJK Letter No.S-161/2020.
No.S-161/2020.
(iv) Manajemen Kunci dan Informasi Lainnya (iv) Key Management and Other Information
Susunan Dewan Komisaris dan Direksi The composition of the Company’s Board of
Perusahaan pada tanggal 31 Desember Commissioners and Directors as at
2025 dan 2024 adalah sebagai berikut: December 31, 2025 and 2024, were as
follows:
31 Desember 2025 Desember 31, 2025
Dewan Komisaris*: Board of Commissioners*:
Komisaris Utama/Independen Gigih Udi Atmo President/Independent Commissioner
Komisaris John Eusebius Iwan Anis Commissioner
Komisaris Abdulla Zayed Commissioner
Komisaris Independen Abdul Musawir Yahya Independent Commissioner
Komisaris Independen Mohammad Firmansyah Independent Commissioner
Page 554
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/4 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
1. INFORMASI UMUM (lanjutan) 1. GENERAL INFORMATION (continued)
a. Perusahaan (lanjutan) a. Company (continued)
(iv) Manajemen Kunci dan Informasi Lainnya (iv) Key Management and Other Information
(lanjutan) (continued)
31 Desember 2025 December 31, 2025
Direksi: Board of Directors:
Direktur Utama Yulfi Hadi President Director
Direktur Operasi Ahmad Yani Operations Director
Direktur Eksplorasi Exploration and
dan Pengembangan Edwil Suzandi Development Director
Direktur Keuangan Yurizki Rio Finance Director
*Dasar pengangkatan mengacu kepada Akta Pernyataan Rapat Umum Pemegang Saham PT PGE Tbk Nomor 33
tanggal 28 Agustus 2025, Notaris Nanette Cahyanie Handari Adi Warsito S.H./Appointment was based on GMS Deed
No. 33 dated August 28, 2025, notarized by Nanette Cahyanie Handari Adi Warsito, S.H.
31 Desember 2024 December 31, 2024
Dewan Komisaris: Board of Commissioners:
Komisaris Utama/Independen Sarman Simanjorang President/Independent Commissioner
Komisaris Gigih Udi Atmo Commissioner
Komisaris John Eusebius Iwan Anis Commissioner
Komisaris Independen Abdulla Zayed Independent Commissioner
Komisaris Independen Abdul Musawir Yahya Independent Commissioner
Direksi: Board of Directors:
Direktur Utama Yulfi Hadi President Director
Direktur Operasi Ahmad Yani Operations Director
Direktur Eksplorasi Exploration and
dan Pengembangan Edwil Suzandi Development Director
Direktur Keuangan Yurizki Rio Finance Director
Personil manajemen kunci Perusahaan The key management personnel of the
adalah Dewan Komisaris dan Direksi Company are the Board of Commissioners
sebagaimana disebutkan di atas and Directors, as mentioned above (Note
(Catatan 26l). 26l).
Susunan Komite Audit pada tanggal 31 The composition of the Company’s Audit
Desember 2025 dan 2024 adalah sebagai Committee as at December 31, 2025 and
berikut: 2024, were as follows:
31 Desember 2025 December 31, 2025
Ketua**) Mohammad Firmansyah (**Chairman
Anggota Abdulla Zayed Member
Anggota Budi Herdiyanto Member
Anggota Agus Waluyo Member
31 Desember 2024 December 31, 2024
Ketua Abdulla Zayed Chairman
Anggota Qatro Romandhi Member
Anggota Rafi Rakhmadhan Member
**) Dasar pengangkatan mengacu kepada Surat Keputusan Dewan Komisaris No. Kpts-012/DK/PGE/2025-S0
tanggal 7 Oktober 2025/Appointment was based on the Board of Commissioners’ Resolution No. Kpts-
012/DK/PGE/2025-S0 dated October 7, 2025.
Page 555
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/5 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
1. INFORMASI UMUM (lanjutan) 1. GENERAL INFORMATION (continued)
a. Perusahaan (lanjutan) a. The Company (continued)
Kantor pusat Perusahaan beralamat di The principal address of the Company’s
Grha Pertamina – Tower Pertamax Lt. 7, Jl. head office is Grha Pertamina – Pertamax
Medan Merdeka Timur No. 11-13, Gambir, Tower, 7th floor, Medan Merdeka Timur No.
Jakarta Pusat 10110. 11-13, Gambir, Central Jakarta 10110.
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, the
Perusahaan mempunyai karyawan masing- Company has 560 and 525 employees,
masing 560 dan 525 (tidak diaudit) dimana respectively (unaudited), whereas 109 and
masing-masing sebanyak 109 dan 123 123 employees, respectively (unaudited),
karyawan (tidak diaudit) adalah pekerja are the secondee employees Pertamina to
Pertamina dengan status karyawan the Group.
perbantuan kepada Grup.
b. Entitas anak b. Subsidiaries
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, the
Perusahaan memiliki pengendalian secara Company, has direct control over the following
langsung pada entitas anak sebagai berikut: subsidiaries:
Mulai
beroperasi
secara Pesentase kepemilikan/ Jumlah aset sebelum eliminasi/
Tempat komersial/ Kegiatan Percentage of ownership Total assets before elimination
Nama entitas kedudukan/ Start of usaha/ 31 Desember/ 31 Desember/ 31 Desember/ 31 Desember/
anak/Name of Place of commercial Nature of December 31, December 31, December 31, December 31,
subsidiaries domicile operations business 2025 2024 2025 2024
PT Pertamina Provinsi Belum Panas bumi/ 99% 99% 11.893**) 12
Geothermal DKI Jakarta/ beroperasi/ Geothermal
Energy Province of Not yet
Kotamobagu*) DKI Jakarta operating
PT Geothermal Provinsi Belum Panas bumi/ 75% 75% 26 29
Energi DKI Jakarta/ beroperasi/ Geothermal
Seulawah Province of Not yet
DKI Jakarta operating
*) PGEL berganti nama menjadi PGEK efektif pada tanggal 4 Agustus 2022/PGEL has changed its name to PGEK effectively on August 4, 2022.
**) Perusahaan melakukan penambahan penyertaan saham pada PGEK untuk memulai kegiatan eksplorasi sesuai dengan Keputusan Rapat Umum Pemegang
Saham Luar Biasa PGEK yang diaktakan pada Notaris Marianne Vincentia Hamdani S.H., Nomor 1 tanggal 3 Oktober 2025/The Company made an additional
equity investment in PGEK to commence exploration activities in accordance with the decision of the Extraordinary General Meeting of Shareholders of PGEK,
which was notarized by Notary Marianne Vincentia Hamdani S.H., Number 1 dated October 3, 2025.
Perusahaan mendirikan PT Pertamina The Company established PT Pertamina
Geothermal Energy Lawu (“PGEL”), yang saat Geothermal Energy Lawu (“PGEL”), which is
ini bernama PT Pertamina Geothermal Energy currently named PT Pertamina Geothermal
Kotamobagu (“PGEK”) dan PT Geothermal Energy Kotamobagu (“PGEK”) and
Energi Seulawah (“GES”) masing-masing pada PT Geothermal Energi Seulawah (“GES”) in
tahun 2016 dan 2017. 2016 and 2017, respectively.
Page 556
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/6 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
1. INFORMASI UMUM (lanjutan) 1. GENERAL INFORMATION (continued)
c. Ventura bersama c. Joint venture
Pada 31 Desember 2025 dan 2024, ventura As of December 31, 2025 and 2024, the direct
bersama dengan kepemilikan langsung sebagai joint ventures are as follows:
berikut:
Mulai
beroperasi
secara Pesentase kepemilikan/
Tempat komersial/ Kegiatan Percentage of ownership
Nama ventura kedudukan/ Start of usaha/ 31 Desember/ 31 Desember/
bersama/Name Place of commercial Nature of December 31, December 31,
of joint ventures domicile operations business 2025 2024
PT Cahaya Provinsi Belum Panas bumi/ 40% 40%
Anagata DKI Jakarta/ beroperasi/ Geothermal
Energy*) Province of Not yet
DKI Jakarta operating
*) PT Cahaya Anagata Energy merupakan suatu ventura bersama yang dibentuk bersama-sama dengan Chevron New Energies Holdings Indonesia Ltd./
PT Cahaya Anagata Energy is a joint venture formed together with Chevron New Energies Holdings Indonesia Ltd.
Pada tanggal 12 Juni 2023, sebagai bentuk On June 12, 2023, as a form of the Group’s
usaha Grup untuk menambah kapasitas business to increase installed capacity, based
terpasang, berdasarkan Keputusan Menteri on the Decree of the Minister of Energy and
Energi dan Sumber Daya Mineral Nomor Mineral Resources Number
118.K/EK.01/MEM.E/2023 menetapkan PT 118.K/EK.01/MEM.E/2023, PT Pertamina
Pertamina Geothermal Energy Tbk dan PT Jasa Geothermal Energy Tbk and PT Jasa Daya
Daya Chevron sebagai pemenang pelelangan Chevron were determined as the winners’
wilayah kerja panas bumi Way Ratai, Provinsi auction of the Way Ratai geothermal working
Lampung. area, Lampung Province.
Pada tanggal 3 Oktober 2023 melalui perjanjian On October 3, 2023, PT Jasa Daya Chevron
novasi, berdasarkan perjanjian rekening transferred its rights and obligations to Chevron
bersama dan perjanjian kerja sama, PT Jasa New Energies Holdings Indonesia Ltd through a
Daya Chevron mengalihkan hak dan kewajiban novation agreement based on a joint account
kepada Chevron New Energies Holdings and cooperation agreement.
Indonesia Ltd.
Pada tanggal 6 Desember 2023, sebagai bagian On December 6, 2023, as part of the
dari pendirian ventura bersama tersebut, establishment of the joint venture, the Group
Perusahaan mengambil bagian dan melakukan took part and invested in 11,640,000 shares with
penyertaan modal dengan jumlah saham a nominal value of US$1 (full amount), with 40%
11.640.000 lembar dengan nilai nominal US$1 ownership percentage and Chevron New
(nilai penuh), dengan presentase kepemilikan Energies Holdings Indonesia Ltd owns the
40% dan sisa nya sebesar 60% dimiliki oleh remaining 60%.
Chevron New Energies Holdings Indonesia Ltd.
Perusahaan ini didirikan berdasarkan Akta This company was established based on
Notaris No. 36 Tahun 2023 dan untuk Notarial Deed No. 36 of 2023, and its
pelaksanaan operasional nya didasari oleh operational implementation is based on the
Perjanjian Pemegang Saham tanggal 4 Januari Shareholder Agreement dated January 4, 2024,
2024 yang telah disepakati oleh para pihak. which the parties agreed upon.
Page 557
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/7 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
1. INFORMASI UMUM (lanjutan) 1. GENERAL INFORMATION (continued)
c. Ventura bersama (lanjutan) c. Joint venture (continued)
Pada tanggal 23 September 2024, PT Cahaya On September 23, 2024, PT Cahaya Anagata
Anagata Energy telah mendapatkan Izin Panas Energy obtained a Geothermal Permit valid for
Bumi yang berlaku selama 37 (tiga puluh tujuh) 37 (thirty-seven) years, with exploration
tahun, dengan tahapan kegiatan eksplorasi activities lasting a maximum of 5 (five) years and
paling lama 5 (lima) tahun dan dilanjutkan continued with exploitation and utilisation
dengan kegiatan eksplotasi dan pemanfaatan activities lasting a maximum of 30 (thirty) years.
paling lama 30 (tiga puluh) tahun.
Maksud dan tujuan perusahaan ini didirikan The aim and objective of this company's
adalah untuk bergerak di bidang pengusahaan establishment is to operate in the geothermal
tenaga panas bumi. Untuk mencapai maksud energy business. To achieve these objectives,
tujuan tersebut, perusahaan dapat companies can carry out geothermal energy
melaksanakan kegiatan eksplorasi energi panas exploration activities, including exploration
bumi, termasuk kegiatan eksplorasi di kawasan activities in forest areas and other activities
hutan dan kegiatan-kegiatan lain yang berkaitan related to exploiting geothermal energy in the
dengan pengusahaan energi panas bumi place where it is used.
sampai ke tempat pemanfaatannya.
Grup menjadi venturer dalam ventura bersama The Group became a joint venturer in the form
berupa pengendalian bersama entitas dengan of a jointly controlled entity by recognising its
mengakui bagian partisipasi dalam laporan participating interest in the financial statements
keuangan menggunakan metode ekuitas. using the equity method.
d. Penyelesaian laporan keuangan d. Completion of consolidated financial
konsolidasian statement
Manajemen Perusahaan bertanggung jawab The Company’s management is responsible for
atas penyusunan dan penyajian wajar laporan preparing and fairly presenting these
keuangan konsolidasian ini sesuai dengan consolidated financial statements under
Standar Akuntansi Keuangan di Indonesia, Indonesian Financial Accounting Standards,
yang diselesaikan dan diotorisasi untuk which were completed and authorised for
diterbitkan oleh Direksi Perusahaan pada issuance by the Company's Board of Directors
tanggal 6 Maret 2026. on March 6, 2026.
2. BISNIS OPERASI PANAS BUMI 2. GEOTHERMAL BUSINESS OPERATIONS
Sejak tahun 1974, Pertamina Lama memperoleh Since 1974, the former Pertamina Entity has been
wilayah-wilayah kerja panas bumi di Indonesia assigned geothermal working areas in Indonesia
berdasarkan surat-surat keputusan dari Menteri based on various decision letters issued by the
Pertambangan dan Energi. Sesuai dengan Minister of Mines and Energy. Following Government
Peraturan Pemerintah No. 31 Tahun 2003, Regulation No. 31 Year 2003, all rights and
segala hak dan kewajiban, yang timbul dari kontrak obligations arising from the contracts and
dan perikatan antara Pertamina Lama dengan agreements entered between former Pertamina
pihak ketiga, sepanjang tidak bertentangan Entity and third parties, so long as these are not
dengan Undang-Undang No. 22 Tahun 2001, contrary to Law No. 22 Year 2001, were transferred
beralih kepada Pertamina sejak tanggal to Pertamina effective September 17, 2003. Through
17 September 2003. Pertamina melalui Surat its letter No.282/C00000/2007-S0 dated March 12,
No.282/C00000/2007-S0 tertanggal 12 Maret 2007 2007, Pertamina assigned its geothermal Working
menyerahkan wilayah kerja panas bumi kepada areas to the Company effective from January 1,
Perusahaan sejak tanggal 1 Januari 2007. 2007.
Page 558
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/8 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
2. BISNIS OPERASI PANAS BUMI (lanjutan) 2. GEOTHERMAL BUSINESS OPERATIONS
(continued)
Pengalihan hak, kewajiban dan kepentingan yang The transfer of Pertamina’s rights, obligations and
berhubungan dengan kegiatan pengusahaan panas interests in geothermal business operations to the
bumi Pertamina ke Perusahaan telah mendapat Company was approved by the Minister of Energy
persetujuan dari Menteri Energi dan Sumber Daya and Mineral Resources in letters No.
Mineral melalui surat No. 2198/30/DJB/2009 tanggal 2198/30/DJB/2009 dated August 4, 2009, and No.
4 Agustus 2009 dan surat No. 2523/30/DJB/2009 2523/30/DJB/2009 dated September 1, 2009.
tanggal 1 September 2009. Efektif sejak tanggal Effective June 28, 2010, Pertamina’s geothermal
28 Juni 2010 aset panas bumi Pertamina telah assets were transferred to the Company, which
dialihkan kepada Perusahaan, sebagai tambahan formed part of Pertamina’s contribution to the
setoran modal Pertamina kepada Perusahaan. Company’s additional paid-up capital. This transfer of
Pengalihan aset panas bumi Pertamina tersebut Pertamina’s geothermal assets was documented in
dituangkan dalam Akta Notaris No. 23 tanggal Notarial Deed No. 23 dated June 28, 2010, of
28 Juni 2010 oleh Lenny Janis Ishak, S.H. Lenny Janis Ishak, S.H.
Pengusahaan wilayah-wilayah kerja tersebut The operations of the above geothermal working
dilakukan dengan cara sebagai berikut: areas are conducted through the following schemes:
Operasi sendiri Own operations
Kontrak Operasi Bersama (“KOB”) Joint Operating Contracts (“JOCs”)
Berdasarkan Keputusan Menteri Energi dan Sumber Based on the Minister of Energy and Mineral
Daya Mineral melalui surat keputusan Nomor Resources Decree through decision letter Number
11.K/HK.02/MEM.E/2022, tanggal 14 Januari 2022 11.K/HK.02/MEM.E/2022 dated January 14, 2022,
Menteri Energi dan Sumber Daya Mineral menyetujui the Minister of Energy and Mineral Resources has
pengembalian Izin Panas Bumi PT Pertamina approved the relinquishment of PT Pertamina
Geothermal Energy Lawu di Wilayah Kerja Gunung Geothermal Energy Lawu’s Geothermal Permit in
Lawu. Gunung Lawu working area.
Pada tanggal 31 Desember 2025 dan 2024, wilayah As of December 31, 2025 and 2024, the Group’s
kerja panas bumi Grup adalah sebagai berikut: geothermal working areas are as follows:
a. Operasi sendiri a. Own operations
Berikut informasi wilayah kerja yang dikelola The following working areas are operated by the
sendiri oleh Grup: Group:
Kapasitas (tidak diaudit)/
Capacity (unaudited)
Status lapangan/ Uap/Steam Listrik/Electricity
Wilayah kerja/Working areas Lokasi/Locations Field status (Megawatts/MW) (Megawatts/MW)
Dikelola oleh Perusahaan/ Managed by the Company
Gunung Sibayak – Gunung Sinabung Sibayak, Sumatera Utara/ Produksi/Production 10 2
North Sumatera
Kamojang – Drajat Kamojang, Jawa Barat/ Produksi/Production 140 95
West Java
Lahendong Lahendong, Sulawasi Produksi/Production 80 40
Utara/North Sulawesi
Gunung Way Panas Ulubelu, Lampung Produksi/Production 110 110
Karaha - Cakrabuana Karaha, Jawa Barat/ Produksi/Production - 30
West Java
Lumut Balai dan Marga Bayur Lumut Balai, Sumatera Produksi/Production - 110
Selatan/South Sumatera
Page 559
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/9 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
2. BISNIS OPERASI PANAS BUMI (lanjutan) 2. GEOTHERMAL BUSINESS OPERATIONS
(continued)
a. Operasi sendiri (lanjutan) a. Own operations (continued)
Kapasitas (tidak diaudit)/
Capacity (unaudited)
Status lapangan/ Uap/Steam Listrik/Electricity
Wilayah kerja/Working areas Lokasi/Locations Field status (Megawatts/MW) (Megawatts/MW)
Dikelola oleh Perusahaan/ Managed by the Company
Hululais Hululais, Bengkulu Pengembangan/ - -
Development
Sungai Penuh Sungai Penuh, Jambi Eksplorasi/Exploration - -
Dikelola oleh Entitas Anak/ Managed by Subsidiaries
Seulawah Agam Aceh Eksplorasi/Exploration - -
Kotamobagu Sulawesi Utara/ Eksplorasi/Exploration - -
North Sulawesi
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, the
wilayah kerja Perusahaan sudah berproduksi Company’s working areas have generated
dengan minimum keluaran ekuivalen dengan output that is at least equivalent to the
kontrak Perusahaan dengan pelanggan, yaitu Company’s contracts with customers, which
antara 72,23% sampai 90% dari total kapasitas. range from 72.23% to 90% of total capacity.
Page 560
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/10 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
2. BISNIS OPERASI PANAS BUMI (lanjutan) 2. GEOTHERMAL BUSINESS OPERATIONS
(continued)
a. Operasi sendiri (lanjutan) a. Own operations (continued)
Perjanjian Jual Beli Uap (“PJBU”) (Kamojang 1, The terms of the Steam Sales Contracts
2, 3, Lahendong 2, 3, 4 dan Ulubelu 1, 2) (”SSCs”) (Kamojang 1, 2, 3, Lahendong 2, 3, 4
menerapkan klausul Take or Pay (“TOP”) and Ulubelu 1, 2) apply to Take or Pay (“TOP”)
dan/atau Delivery or Pay (“DOP”). Perjanjian and/or Delivery or Pay (“DOP”) clauses. Energy
Jual Beli Energi Listrik (“PJBL”) (Kamojang 4, 5, Sales Contracts (”ESCs”) (Kamojang 4, 5,
Lahendong 5, 6, Ulubelu 3, 4, Karaha 1 dan Lahendong 4, 5, Ulubelu 3, 4, Karaha 1 and
Lumut Balai 1, 2) menerapkan klausul TOP. Lumut Balai 1, 2) apply TOP clauses. TOP is the
TOP adalah suatu kondisi dalam kontrak dimana contract provision whereby the buyer (PT PLN
pihak pembeli (PT PLN (Persero) ( PLN )) harus (Persero) (”PLN”)) is required to pay a minimum
membayar sejumlah kapasitas uap atau listrik capacity payment to the Company based on the
minimum tertentu kepada Perusahaan sesuai specified capacity according to the SSCs/ESCs
dengan jumlah yang disepakati dalam kontrak as long as the Company can supply steam or
PJBU/PJBL selama Perusahaan dapat generate electricity at the minimum specified
memenuhi kebutuhan minimum yang ditentukan level. DOP is the contract provision whereby the
tersebut. DOP adalah suatu kondisi dalam Company is required to pay the buyer (PLN) if
kontrak dimana Perusahaan harus membayar the Company is unable to supply steam or
kekurangan pasokan kepada pembeli (PLN) generate electricity at the minimum specified
apabila Perusahaan tidak dapat memenuhi level according to the SSCs/ESCs. TOP and
pasokan minimum yang ditentukan dalam DOP percentages are specific in each contract.
kontrak PJBU/PJBL. Persentase TOP dan DOP
adalah spesifik dalam setiap kontrak.
Kemampuan Perusahaan untuk memenuhi The Company’s ability to meet the DOP
kuantitas minimum DOP tergantung dari minimum quantities depends on its geothermal
pengelolaan sumber daya panas bumi. Sumber operations. Geothermal energy resources are
daya panas bumi memiliki risiko geologis seperti subject to geological risks, such as releases,
pelepasan (release), tekanan (pressure), dan pressure, and temperature declines. Any of
penurunan suhu. Kondisi tersebut dapat these conditions may increase capital
meningkatkan belanja modal dan biaya operasi, expenditures and operating costs or reduce the
atau mengurangi efisiensi dari fasilitas efficiency of electricity-generating facilities.
pembangkit listrik.
Grup tetap memiliki aset panas bumi dan At the end of the ESC/SSC terms, the Group will
fasilitas pembangkitan listrik pada saat continue to own the geothermal assets and
berakhirnya PJBU/PJBL, tidak ada ketentuan electricity-generating facilities, and there is no
untuk diserahterimakan kepada Pemerintah requirement to hand these assets over to the
atau PLN. Government or PLN.
Page 561
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/11 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
2. BISNIS OPERASI PANAS BUMI (lanjutan) 2. GEOTHERMAL BUSINESS OPERATIONS
(continued)
b. Kontrak Operasi Bersama (”KOB”) b. Joint Operating Contracts (”JOCs”)
Dalam KOB, kegiatan panas bumi di wilayah Under the JOC scheme, geothermal activities in
kerja Grup dioperasikan oleh kontraktor panas the Group’s working areas are conducted by
bumi. geothermal contractors.
Berikut informasi wilayah kerja yang The following are the details of the working areas
dikerjasamakan dengan kontraktor KOB: operated by the JOC contractors:
Kapasitas/
Capacity
Uap/Steam Listrik/Electricity
Wilayah kerja/ Status lapangan/ (Megawatts/ (Megawatts/
Working areas Lokasi/Locations Field status MW) MW) Kontraktor/Contractors
Cibereum – Parabakti Salak, Jawa Barat/ Produksi/Production 180 225 Star Energy Geothermal
West Java Salak Ltd. dan/and Star
Energy Geothermal Salak
Pratama Ltd.
Kamojang – Darajat Darajat, Jawa Barat/ Produksi/Production 55 219 Star Energy Geothermal
West Java Darajat II Ltd.
Pangelengan Wayang Windu, Jawa Produksi/Production - 230 Star Energy Geothermal
Barat/West Java Wayang Windu Ltd.
Gunung Sibual-buali Sarulla, Sumatera Produksi/Production - 330 Sarulla Operation Ltd.
Utara/North Sumatera
Tabanan Bedugul, Bali Eksplorasi/Exploration - - Bali Energy Ltd.
Pada tanggal 31 Desember 2025 dan 2024 As of December 31, 2025 and 2024, four of the
empat wilayah kerja kontraktor KOB sudah JOC contractors’ working areas had production
berproduksi dengan minimum keluaran output that was at least equivalent to the JOC’s
ekuivalen dengan Energy Sales Contracts Energy Sales Contract, which ranges from 80%
dalam KOB, yaitu antara 80% sampai dengan to 95% of total capacity.
95% dari total kapasitas.
Material dan peralatan yang dibeli oleh Materials and equipment purchased by the JOC
kontraktor KOB dan merupakan bagian dari contractors and incorporated into production
fasilitas produksi, dengan memperhatikan aspek facilities, subject to liens in favour of lenders
penjaminan kepada pemberi kredit dan except for equipment leased by the JOC
pengecualian untuk peralatan yang disewa oleh contractors, become the property of the Group
kontraktor KOB, menjadi milik Grup pada saat when landed at Indonesian ports (in the case of
material dan peralatan tersebut berada dalam imports) or upon incorporation into the
wilayah pabean Indonesia (jika diperoleh melalui production facilities. The Group grants the JOC
impor) atau setelah material dan peralatan contractors an exclusive and irrevocable right
tersebut terpasang. Grup memberikan hak during the term of the JOC contracts to use,
eksklusif yang tidak dapat dicabut kembali among other things, the field facilities for
kepada kontraktor KOB untuk menggunakan geothermal operations during the term of the
diantaranya fasilitas produksi untuk kepentingan JOC. The JOC contractors record the costs of
operasi panas bumi selama periode berlakunya these assets during the JOC period.
KOB. Biaya yang dikeluarkan untuk memperoleh
aset-aset tersebut dicatat oleh kontraktor KOB
selama periode KOB.
Page 562
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/12 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
2. BISNIS OPERASI PANAS BUMI (lanjutan) 2. GEOTHERMAL BUSINESS OPERATIONS
(continued)
b. Kontrak Operasi Bersama (”KOB”) (lanjutan) b. Joint Operating Contracts (“JOCs”)
(continued)
Pada saat berakhirnya KOB, fasilitas At the end of the JOC terms, the electricity-
pembangkitan listrik yang dioperasikan oleh generating facilities operated by the JOC
kontraktor KOB akan dialihkan kepada Grup contractors will be transferred to the Group (JOC
(KOB Darajat, Wayang Windu, dan Bedugul) Darajat, Wayang Windu, and Bedugul) and PLN
dan PLN (KOB Salak dan Sarulla). (JOC Salak and Sarulla).
Berdasarkan KOB, Grup berhak mendapatkan Under the JOCs, the Group is entitled to receive
production allowances dari kontraktor KOB yang production allowances from the JOC contractors
besarnya 2,66% untuk KOB Darajat dan 4% at the rate of 2.66% for the Darajat JOC and 4%
untuk KOB Salak, Wayang Windu, Sarulla, dan for the Salak, Wayang Windu, Sarulla, and
Bedugul, dari laba operasi bersih tahunan Bedugul JOCs of the JOC contractors’ annual
kontraktor KOB yang dihitung berdasarkan KOB. net operating income as calculated under the
JOCs.
3. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 3. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL POLICIES INFORMATION
a. Dasar Penyajian Laporan Keuangan a. Basis of Presentation of Consolidated
Konsolidasian Financial Statements
Laporan keuangan konsolidasian telah disusun The consolidated financial statements have
sesuai dengan Standar Akuntansi Keuangan di been prepared in accordance with Indonesian
Indonesia, yang mencakup Pernyataan dan Financial Accounting Standards, which
Interpretasi yang dikeluarkan oleh Dewan comprise the Statements and Interpretations
Standar Akuntansi Keuangan Ikatan Akuntan issued by the Financial Accounting Standards
Indonesia (“DSAK IAI”) dan Peraturan- Board of the Institute of Indonesia Chartered
Peraturan serta Pedoman Penyajian dan Accountants (Dewan Standar Akuntansi
Pengungkapan Laporan Keuangan yang Keuangan Ikatan Akuntan Indonesia or DSAK
diterbitkan oleh Otoritas Jasa Keuangan IAI) and the Regulations and Guidelines on
(“OJK”). Financial Statement Presentation and
Disclosures issued by Financial Services
Authority (Otoritas Jasa Keuangan” or “ OJK”).
Laporan keuangan konsolidasian disusun The consolidated financial statements have
berdasarkan konsep akrual, kecuali laporan been prepared on the accrual basis, except for
arus kas konsolidasian, dengan menggunakan the consolidated statement of cash flows, using
konsep biaya historis, kecuali seperti yang the historical cost concept of accounting, except
disebutkan dalam Catatan atas laporan as disclosed in the relevant Notes to the
keuangan konsolidasian yang relevan. consolidated financial statements herein.
Page 563
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/13 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
3. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 3. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
a. Dasar penyusunan laporan keuangan a. Basis of consolidated financial statements
konsolidasian (lanjutan) preparation (continued)
Laporan arus kas konsolidasian yang disajikan The consolidated statement of cash flows, which
dengan menggunakan metode langsung, have been prepared using the direct method,
menyajikan penerimaan dan pengeluaran kas present receipts and disbursements of cash and
dan setara kas yang diklasifikasikan ke dalam cash equivalents classified into operating,
aktivitas operasi, investasi dan pendanaan. investing and financing activities.
Kebijakan akuntansi yang diterapkan oleh Grup The accounting policies adopted by the Group
adalah selaras bagi tahun yang dicakup oleh are consistently applied for the years covered by
laporan keuangan konsolidasian, kecuali untuk the consolidated financial statements, except for
standar akuntansi baru dan revisi seperti new and revised accounting standards as
diungkapkan pada Catatan 3b dibawah ini. disclosed in the following Note 3b.
Grup telah menyusun laporan keuangan The Group has prepared the consolidated
konsolidasian dengan dasar bahwa Grup akan financial statements on the basis that it will
menjaga kelangsungan usaha. continue to operate as a going concern.
b. Perubahan kebijakan akuntansi b. Changes in accounting principles
Amandemen PSAK 221: Kekurangan Amendment of PSAK 221: Lack of
Ketertukaran Exchangeability
Amandemen tersebut mengharuskan The amendments require disclosure of
pengungkapan informasi yang memungkinkan information that enables users of financial
pengguna laporan keuangan memahami statements to understand the impact of a
dampak mata uang yang tidak dapat currency not being exchangeable into the other
dipertukarkan dengan mata uang lain yang currency affects, or is expected to affect, the
memengaruhi, atau diperkirakan akan entity’s financial performance, financial position
memengaruhi, kinerja keuangan, posisi and cash flows.
keuangan, dan arus kas entitas.
Amandemen ini tidak diharapkan akan The amendments are not expected to have an
memberikan dampak terhadap laporan impact on the Group’s consolidated financial
keuangan konsolidasian Grup. statements.
PSAK 117: Kontrak Asuransi PSAK 117: Insurance Contracts
Standar akuntansi baru yang komprehensif A comprehensive new accounting standard for
untuk kontrak asuransi yang mencakup insurance contracts covering recognition and
pengakuan dan pengukuran, penyajian dan measurement, presentation and disclosure, upon
pengungkapan, pada saat berlaku efektif PSAK its effective date, PSAK 117 will replace PSAK
117 akan menggantikan PSAK 62: Kontrak 104: Insurance Contracts. PSAK 117 applies to
Asuransi. PSAK 104: Kontrak asuransi berlaku all types of insurance contracts, life, non-life,
untuk semua jenis kontrak asuransi, jiwa, non- direct insurance and re-insurance, regardless of
jiwa, asuransi langsung dan reasuransi, terlepas the entities issuing them, as well as to certain
dari entitas yang menerbitkannya, serta untuk guarantees and financial instruments with
jaminan dan instrumen keuangan tertentu discretionary participation features, while a few
dengan fitur partisipasi tidak mengikat, serta scope exceptions will apply. The overall objective
beberapa pengecualian ruang lingkup akan of PSAK 117 is to provide an accounting model
berlaku. Tujuan keseluruhan dari PSAK 117 for insurance contracts that is more useful and
adalah untuk menyediakan model akuntansi consistent for insurers.
untuk kontrak asuransi yang lebih bermanfaat
dan konsisten untuk asuradur.
Page 564
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/14 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
3. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 3. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
b. Perubahan kebijakan Akuntansi (lanjutan) b. Changes in accounting principles (continued)
PSAK 117: Kontrak Asuransi (lanjutan) PSAK 117: Insurance Contracts (continued)
Standar ini tidak diharapkan memiliki dampak This standard is not expected to have any impact
pada pelaporan keuangan Grup pada saat to the financial reporting of the Group upon first-
diadopsi untuk pertama kali karena menerbitkan time adoption because the Group does not issue
kontrak asuransi seperti didefiniskan dalam insurance contracts as defined in PSAK 117.
PSAK 117.
c. Prinsip-prinsip konsolidasi c. Principles of consolidation
Laporan keuangan konsolidasian meliputi The consolidated financial statements comprise
laporan keuangan Perusahaan dan entitas- the Company's and its subsidiaries' financial
entitas anak. Kendali diperoleh bila Grup statements. Control is achieved when the Group
terekspos atau memiliki hak atas imbal hasil is exposed to or has rights to variable returns
variabel dari keterlibatannya dengan investee from its involvement with the investee and can
dan memiliki kemampuan untuk mempengaruhi affect those returns through its power over the
imbal hasil tersebut melalui kekuasaannya atas investee.
investee.
Dengan demikian, Grup mengendalikan Thus, the Group controls an investee if and only
investee jika dan hanya jika Grup memiliki if the Group has all the following:
seluruh hal berikut ini:
1. Kekuasaan atas investee, yaitu hak yang 1. Power over the investee, that is, existing
ada saat ini yang memberi Grup rights that give the Group current ability to
kemampuan kini untuk mengarahkan direct the relevant activities of the investee,
aktivitas relevan dari investee,
2. Eksposur atau hak atas imbal hasil variabel 2. Exposure, or rights, to variable returns from
dari keterlibatannya dengan investee, dan its involvement with the investee, and
3. Kemampuan untuk menggunakan 3. The ability to use its power over the investee
kekuasaannya atas investee untuk to affect its returns.
mempengaruhi jumlah imbal hasil.
Bila Grup tidak memiliki hak suara atau hak When the Group has less than a majority of the
serupa secara mayoritas atas suatu investee, voting or similar rights of an investee, the Group
Grup mempertimbangkan semua fakta dan considers all relevant facts and circumstances in
keadaan yang relevan dalam mengevaluasi assessing whether it has power over an
apakah mereka memiliki kekuasaan atas investee, including:
investee, termasuk:
1. Pengaturan kontraktual dengan pemilik hak 1. The contractual arrangement with the other
suara lainnya dari investee, vote holders of the investee,
2. Hak yang timbul atas pengaturan kontraktual 2. Rights arising from other contractual
lain, dan arrangements, and
3. Hak suara dan hak suara potensial yang 3. The Group's voting rights and potential
dimiliki Grup. voting rights.
Page 565
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/15 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
3. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 3. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
c. Prinsip-prinsip konsolidasi (lanjutan) c. Principles of consolidation (continued)
Grup menilai kembali apakah mereka The Group re-assesses whether it controls an
mengendalikan investee bila fakta dan keadaan investee if facts and circumstances indicate
mengindikasikan adanya perubahan terhadap changes to one or more of the three control
satu atau lebih dari ketiga elemen dari elements. Consolidation of subsidiaries begins
pengendalian. Konsolidasi atas entitas-entitas when the Group obtains control over the
anak dimulai sejak Grup memperoleh subsidiary and ceases when the Group loses
pengendalian atas entitas anak dan berakhir control of the subsidiary. Assets, liabilities,
pada saat Grup kehilangan pengendalian atas income and expenses of a subsidiary acquired
entitas anak. Aset, liabilitas, penghasilan dan during the year are included in the consolidated
beban dari entitas anak yang diakuisisi pada financial statements from the date the Group
tahun tertentu disertakan dalam laporan gains control until the date the Group ceases to
keuangan konsolidasian sejak tanggal Grup control the subsidiary.
memperoleh kendali sampai tanggal Grup tidak
lagi mengendalikan entitas anak tersebut.
Seluruh laba rugi dan setiap komponen Profit or loss and each component of other
penghasilan komprehensif lain (“PKL”) comprehensive income (“OCI”) is attributed to
diatribusikan pada pemilik entitas induk dan the equity holders of the parent of the Group and
pada kepentingan nonpengendali (“KNP”), the non-controlling interests (“NCI”), even if this
walaupun hal ini akan menyebabkan saldo KNP results in the NCI having a deficit balance. When
yang defisit. Bila dipandang perlu, penyesuaian necessary, adjustments are made to the
dilakukan terhadap laporan keuangan entitas financial statements of subsidiaries to align their
anak untuk diselaraskan dengan kebijakan accounting policies with the Group’s accounting
akuntansi Grup. policies.
Seluruh aset dan liabilitas, ekuitas, penghasilan On consolidation, all intra-group assets and
dan beban dan arus kas atas transaksi antar liabilities, equity, income, expenses, and cash
anggota Grup dieliminasi sepenuhnya pada saat flows related to transactions between members
konsolidasi. of the Group are eliminated in full.
Perubahan dalam bagian kepemilikan entitas A change in the parent’s ownership interest in a
induk pada entitas anak yang tidak subsidiary, without a loss of control, is accounted
mengakibatkan hilangnya pengendalian, dicatat for as an equity transaction. Suppose the Group
sebagai transaksi ekuitas. Bila kehilangan loses control over a subsidiary; in that case, it
pengendalian atas suatu entitas anak, maka derecognises the related assets (including
Grup menghentikan pengakuan atas aset goodwill), liabilities, NCI and another component
(termasuk goodwill), liabilitas dan komponen lain of equity, while the difference is recognised in
dari ekuitas terkait, dan selisihnya diakui pada the profit or loss. Any investment retained is
laba rugi. Bagian dari investasi yang tersisa recognised at fair value.
diakui pada nilai wajar.
Page 566
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/16 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
3. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 3. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
d. Klasifikasi lancar dan tak lancar d. Current and non-current classification
Grup menyajikan aset dan liabilitas dalam The Group presents assets and liabilities in the
laporan posisi keuangan konsolidasian statement of financial position based on
berdasarkan klasifikasi lancar/tak lancar. Suatu current/non-current classification. An asset is
aset disajikan lancar bila: current when it is:
1. Akan direalisasi, dijual atau dikonsumsi 1. Expected to be realised or intended to be
dalam siklus operasi normal, sold or consumed in the normal operating
cycle,
2. Untuk diperdagangkan, 2. Held primarily for the purpose of trading,
3. Akan direalisasi dalam 12 bulan setelah 3. expected to be realised within 12 months
tanggal pelaporan, atau after the reporting period, or
4. Kas atau setara kas kecuali yang dibatasi 4. Cash or cash equivalent unless restricted
penggunaannya atau akan digunakan untuk from being exchanged or used to settle a
melunasi suatu liabilitas dalam kurun waktu liability for at least 12 months after the
12 bulan setelah tanggal pelaporan. reporting period.
Seluruh aset lain diklasifikasikan sebagai tidak All other assets are classified as non-current.
lancar.
Suatu liabilitas disajikan lancar bila: A liabilities is current when it is:
1. Akan dilunasi dalam siklus operasi normal, 1. Expected to be settled in the normal
operating cycle,
2. Untuk diperdagangkan, 2. Held primarily for the purpose of trading,
3. Akan dilunasi dalam 12 bulan setelah 3. Due to be settled within 12 months after the
tanggal pelaporan, atau reporting period, or
4. Tidak ada hak untuk menangguhkan 4. There is no right at the end of reporting
pelunasannya dalam kurun waktu 12 bulan period to defer the settlement of the liability
setelah periode pelaporan. for at least 12 months after the reporting
period
Seluruh liabilitas lain diklasifikasikan sebagai All other liabilities are classified as non-current.
tidak lancar.
Aset dan kewajiban pajak tangguhan Deferred tax assets and liabilities are classified
diklasifikasikan sebagai aset dan kewajiban as non-current assets and liabilities.
jangka panjang.
e. Kas dan setara kas e. Cash and cash equivalents
Kas dan setara kas dalam laporan posisi Cash and cash equivalents in the statements of
keuangan konsolidasian terdiri dari kas dan consolidated financial position comprise cash on
bank serta deposito jangka pendek yang jatuh hand and in banks and short-term deposits with a
tempo dalam waktu 3 bulan atau kurang, yang maturity of three (3) months or less, that are
dapat segera dikonversikan menjadi kas dalam readily convertible to a known amount of cash and
jumlah yang dapat ditentukan dan memiliki risiko subject to an insignificant risk of changes in value.
perubahan nilai yang tidak signifikan.
Kas dan setara kas yang dibatasi Cash and cash equivalents which are restricted
penggunaannya yang akan digunakan untuk for repayment of currently maturing obligations
membayar liabilitas yang akan jatuh tempo are presented as restricted cash under the current
dalam waktu satu tahun disajikan sebagai kas assets section. Cash and cash equivalents which
yang dibatasi penggunaannya dan disajikan are restricted to repay obligations maturing after
sebagai bagian dari aset lancar. Kas dan setara one year from the date of consolidated statement
kas yang dibatasi penggunaannya untuk of financial position are presented as part of
membayar liabilitas yang akan jatuh tempo restricted cash under the non-current assets
dalam waktu lebih dari satu tahun dari tanggal section.
laporan posisi keuangan konsolidasian disajikan
dalam kas yang dibatasi penggunaannya dan
disajikan sebagai bagian dari aset tidak lancar.
Page 567
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/17 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
3. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 3. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
f. Transaksi dengan pihak berelasi f. Transactions with related parties
Perusahaan dan entitas anaknya melakukan The company and subsidiaries have
transaksi dengan pihak berelasi sesuai dengan transactions with related parties as defined in
definisi yang diuraikan pada PSAK 224: PSAK 224: Related Party Disclosures.
Pengungkapan Pihak-pihak Berelasi.
Transaksi ini dilakukan berdasarkan The transactions are made based on terms
persyaratan yang disetujui oleh kedua belah agreed by the parties, which may not be the
pihak, yang mungkin tidak sama dengan same as those made with unrelated parties.
transaksi lain yang dilakukan dengan pihak-
pihak yang tidak berelasi.
Saldo dan transaksi signifikan dengan pihak- All significant balances and transactions with
pihak berelasi diungkapkan dalam Catatan 26. related parties are disclosed in Note 26.
Kecuali diungkapkan khusus sebagai pihak Unless specifically identified as related parties,
berelasi, maka pihak-pihak lain yang disebutkan the parties disclosed in the Notes to the
dalam Catatan atas laporan keuangan consolidated financial statements are unrelated
konsolidasian merupakan pihak tidak berelasi. parties.
g. Persediaan g. Inventories
Persediaan material seperti suku cadang, bahan Inventory, such as spare parts, chemicals, and
kimia dan lain-lain, dicatat berdasarkan metode others, is stated at the weighted average cost.
rata-rata tertimbang. Persediaan usang, tidak Obsolete, unusable, and slow-moving inventory
terpakai, dan lambat pergerakannya dicatat is also stated at the weighted average cost and
berdasarkan metode rata-rata tertimbang dan recorded as part of the “Non-current assets-
disajikan dalam akun “Aset tidak lancar - Aset Other assets, net” account.
lain-lain, bersih”.
Penyisihan persediaan usang dibentuk untuk An allowance for inventory obsolescence is
mengurangi jumlah tercatat persediaan ke nilai provided to reduce the carrying amounts of
realisasi netonya yang ditentukan melalui inventories to their net realisable value based on
pengujian berkala atas estimasi penggunaan the periodic review of the estimated future usage
atau penjualan masing-masing jenis persediaan or sale of individual inventory items.
di masa yang akan datang.
h. Aset tetap h. Fixed assets
Biaya perolehan termasuk biaya penggantian Cost includes replacing parts of fixed assets and
sebagian aset tetap dan biaya pinjaman untuk borrowing costs for long-term construction
proyek konstruksi jangka panjang jika kriteria projects if the recognition criteria are satisfied.
pengakuan terpenuhi. Demikian pula, ketika Likewise, when a major inspection is performed,
major inspection dilakukan, biayanya diakui its cost is recognised at the carrying amounts of
sebagai nilai tercatat aset tetap sebagai biaya the fixed assets as a replacement if the
penggantian, jika kriteria pengakuan terpenuhi. recognition criteria are satisfied.
Page 568
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/18 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
3. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 3. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
h. Aset tetap (lanjutan) h. Fixed assets (continued)
Tanah tidak disusutkan. Penyusutan aset lain Land is not depreciated. Depreciation on other
dihitung dengan menggunakan metode garis assets is calculated using the straight-line
lurus untuk mengalokasikan harga perolehan method to allocate their cost to their residual
sampai dengan nilai sisanya selama masa values over their estimated useful lives.
manfaat yang diestimasi.
Penyusutan aset dimulai pada saat aset tersebut Depreciation of an asset is commenced when
siap untuk digunakan sesuai maksud the asset is available for use in the manner
penggunaannya oleh Grup dan dihitung dengan intended by the Group and is computed using
menggunakan metode garis lurus berdasarkan the straight-line method based on the estimated
estimasi masa manfaat ekonomis sebagai useful lives of the assets as follow:
berikut:
Tahun/Years
Sumur panas bumi 10 - 20 Geothermal wells
Instalasi 5 - 30 Installations
Bangunan 5 - 40 Buildings
Harta benda bergerak 5 - 20 Moveable assets
Biaya-biaya setelah pengakuan awal diakui Subsequent costs are included in the asset’s
sebagai bagian dari nilai tercatat aset atau carrying amount or recognised as a separate
sebagai aset yang terpisah, sebagaimana asset, as appropriate, only when it is probable
mestinya, hanya apabila kemungkinan besar that future economic benefits associated with the
Grup akan mendapatkan manfaat ekonomis di item will flow to the Group and the cost of the
masa depan berkenaan dengan aset tersebut item can be measured reliably. The carrying
dan biaya perolehan aset dapat diukur dengan amount of the replaced part is derecognised. All
andal. Nilai tercatat dari komponen yang diganti other repairs and maintenance are charged to
dihapuskan. Biaya perbaikan dan pemeliharaan the statements of profit or loss and other
dibebankan ke dalam laporan laba-rugi dan comprehensive income during the financial
penghasilan komprehensif lainnya dalam period they are incurred.
periode dimana biaya-biaya tersebut terjadi.
Nilai tercatat dari aset tetap ditelaah untuk The carrying amount of fixed assets is tested for
penurunan nilai ketika terdapat kejadian atau impairment whenever events or changes in
perubahan keadaan yang mengindikasikan circumstances indicate that the carrying amount
bahwa nilai tercatat tidak dapat terpulihkan. may not be recoverable.
Jumlah tercatat aset tetap dihentikan An item of fixed asset is derecognised upon
pengakuannya pada saat dilepaskan atau saat disposal or when no future economic benefits
tidak ada manfaat ekonomis di masa depan are expected from its use or disposal. Any gain
yang diharapkan dari penggunaan atau or loss arising from the derecognition of the
pelepasannya. Laba atau rugi yang timbul dari asset, calculated as the difference between the
penghentian pengakuan aset, yang merupakan net disposal proceeds and the carrying amount
perbedaan antara jumlah neto hasil pelepasan of the asset, is included in profit or loss. The
dengan jumlah tercatatnya, disajikan dalam laba residual value of assets, useful lives, and
rugi. Nilai sisa aset, masa manfaat, dan metode depreciation method are reviewed and adjusted,
penyusutan ditelaah dan jika perlu disesuaikan, if appropriate, at the end of each reporting
pada setiap akhir periode pelaporan. period.
Page 569
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/19 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
3. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 3. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
h. Aset tetap (lanjutan) h. Fixed assets (continued)
Aset tetap dalam pembangunan Asset under construction
Aset tetap dalam pembangunan merupakan Asset under construction represents costs for
biaya-biaya untuk eksplorasi dan evaluasi aset exploring and evaluating geothermal assets,
panas bumi, pengembangan aset panas bumi, developing geothermal assets, and building
dan pembangunan aset tetap lainnya. Biaya- other assets. When an asset is completed and
biaya tersebut akan dipindahkan ke aset tetap ready to use, such costs are transferred to the
yang bersangkutan pada saat aset tersebut relevant fixed asset account. Costs are
selesai dan siap digunakan. Biaya-biaya yang accumulated on a field-by-field basis. Assets
terjadi diakumulasikan berdasarkan lapangan under construction are not depreciated until they
per lapangan. Aset tetap dalam pembangunan fulfill criteria for recognition as fixed assets as
tidak disusutkan sampai memenuhi syarat disclosed above.
pengakuan sebagai aset tetap seperti
diungkapkan di atas.
Biaya geologi dan geofisika dibebankan pada Geological and geophysical costs are expensed
saat terjadi. as incurred.
Biaya-biaya pemboran sumur eksplorasi dan The costs of drilling exploratory wells and drilling
biaya-biaya pemboran sumur tes stratigrafi, exploratory-type stratigraphic test wells are
dikapitalisasi sebagai bagian dari Aset tetap capitalised as part of assets under construction -
dalam pembangunan - aset eksplorasi, hingga exploration assets, pending the determination of
ditentukan apakah sumur tersebut memenuhi whether the well has met the standards of
standar untuk produksi seperti tekanan dan production, such as pressure and temperature.
temperatur. Jika sumur tersebut memenuhi If the wells have met the production standards,
standar untuk produksi, kapitalisasi biaya the capitalised costs of drilling the wells are
pemboran sumur dievaluasi terhadap tested for impairment and transferred to assets
penurunan nilai dan ditransfer menjadi aset under construction - development assets (even
tetap dalam pembangunan - aset though the well may not yet be completed as a
pengembangan (walaupun sumur tersebut producing well). However, if the well has not met
nantinya tidak akan dijadikan sumur produksi). the production standards, the capitalised costs
Namun demikian, jika sumur tersebut tidak of drilling the well are then charged to expense.
memenuhi standar untuk produksi, biaya
pemboran sumur yang telah dikapitalisasi akan
dicatat sebagai beban.
Biaya-biaya pemboran sumur dalam The costs of drilling development wells, including
pengembangan termasuk biaya pemboran the costs of drilling unsuccessful development
sumur pengembangan yang tidak menghasilkan wells and development-type stratigraphic wells,
sumur pengembangan stratigrafi dikapitalisasi are capitalized as part of the assets under
sebagai bagian dari Aset tetap dalam construction of development wells until drilling is
pembangunan sumur pengembangan hingga completed. When the development well is
proses pemboran selesai. Pada saat completed on a specific field, it is transferred to
pengembangan sumur telah selesai pada fixed assets - production wells.
lapangan tertentu, maka sumur tersebut akan
ditransfer ke aset tetap - sumur produksi.
Page 570
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/20 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
3. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 3. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
i. Kapitalisasi biaya pinjaman i. Capitalized borrowing costs
Biaya bunga dan biaya pinjaman lainnya, seperti Interest and other borrowing costs, such as
biaya diskonto pinjaman baik yang secara discount fees on loans either directly or indirectly
langsung atau tidak langsung digunakan untuk used to finance the construction of a qualifying
pendanaan konstruksi aset kualifikasian asset, are capitalised up to the date when
(“qualifying asset”), dikapitalisasi hingga aset construction is complete. For borrowing costs
tersebut selesai dikonstruksi. Untuk biaya directly attributable to a qualifying asset, the
pinjaman yang dapat diatribusikan secara amount to be capitalised is determined as the
langsung pada aset kualifikasian, jumlah yang actual borrowing cost incurred during the period,
dikapitalisasi ditentukan dari biaya pinjaman less any income earned on the temporary
aktual yang terjadi selama periode berjalan, investment of this borrowing.
dikurangi penghasilan yang diperoleh dari
investasi sementara atas dana hasil pinjaman
tersebut.
Untuk pinjaman yang tidak dapat diatribusikan For borrowing not directly attributable to a
secara langsung pada suatu aset kualifikasian, qualifying asset, the capitalisation amount is
jumlah yang dikapitalisasi ditentukan dengan determined by applying a capitalisation rate to
mengalikan tingkat kapitalisasi terhadap jumlah the amount expended on the qualifying assets.
yang dikeluarkan untuk memperoleh aset The capitalisation rate is the weighted average
kualifikasian. Tingkat kapitalisasi dihitung of the total borrowing costs applicable to the total
berdasarkan rata-rata tertimbang biaya borrowings outstanding during the period, other
pinjaman yang dibagi dengan jumlah pinjaman than borrowings taken out specifically to obtain
yang tersedia selama periode, selain pinjaman a qualifying asset.
yang secara spesifik diambil untuk tujuan
memperoleh aset kualifikasian.
Biaya pinjaman dapat terjadi selama suatu Borrowing costs may be incurred during an
periode yang diperpanjang yang mana entitas extended period when an entity ceases activities
menghentikan aktivitas yang diperlukan untuk necessary to prepare an asset for its intended
mempersiapkan suatu aset agar dapat use or sale. Such borrowing costs are the costs
digunakan atau dijual sesuai intensinya. Biaya of owning a partially completed asset and do not
pinjaman tersebut merupakan biaya kepemilikan qualify for capitalisation. An entity suspends the
aset yang selesai sebagian dan tidak memenuhi capitalisation of borrowing costs during an
syarat untuk dikapitalisasi. Entitas extended period during which active
menghentikan sementara kapitalisasi biaya development of a qualifying asset ceases.
pinjaman selama periode yang diperpanjang
dimana pengembangan aktif atas aset
kualifikasian juga dihentikan.
Page 571
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/21 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
3. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 3. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
j. Pengakuan pendapatan dan beban j. Revenues and expenses recognition
Pendapatan dari penjualan uap dan listrik diakui Revenue from sales of steam and electricity is
pada saat terpenuhinya seluruh kondisi berikut: recognised when all the following conditions are
met:
1. Identifikasi kontrak dengan pelanggan. 1. Identify contracts with customers.
2. Identifikasi kewajiban pelaksanaan dalam 2. Identification of performance obligations in
kontrak. Kewajiban pelaksanaan the contract. Performance obligations are
merupakan janji-janji dalam kontrak untuk promises in a contract to deliver steams or
menyerahkan uap atau listrik ke pelanggan. electricity to customers.
3. Penetapan harga transaksi. Harga transaksi 3. Determining the transaction price. The
merupakan jumlah imbalan yang berhak transaction price is the consideration an
diperoleh suatu entitas sebagai kompensasi entity is entitled to receive as compensation
atas diserahkannya uap atau listrik yang for delivering the promised steam or
dijanjikan ke pelanggan. Jika imbalan yang electricity to the customer. If the benefits
dijanjikan di kontrak mengandung suatu promised in the contract contain a variable
jumlah yang bersifat variabel, maka Grup amount, the Group estimates the amount of
membuat estimasi jumlah imbalan tersebut the consideration at the amount expected to
sebesar jumlah yang diharapkan berhak be entitled to receive the promised steam or
diterima atas diserahkannya uap atau listrik electricity to the customer less the estimated
yang dijanjikan ke pelanggan dikurangi amount of steam and electricity guarantees
dengan estimasi jumlah jaminan uap dan to be paid during the contract period.
listrik yang akan dibayarkan selama periode
kontrak.
4. Alokasi harga transaksi ke setiap kewajiban 4. Allocation of the transaction price to each
pelaksanaan dengan menggunakan dasar performance obligation based on the
harga jual berdiri sendiri relatif dari setiap relative stand-alone selling price of each
uap atau listrik berbeda yang dijanjikan di different steam or electricity promised in the
kontrak. Ketika tidak dapat diamati secara contract. When this cannot be observed
langsung, harga jual berdiri sendiri relatif directly, the relative stand-alone selling
diperkirakan berdasarkan biaya yang price is estimated based on expected cost
diharapkan ditambah marjin. plus a margin.
5. Pengakuan pendapatan ketika kewajiban 5. Revenue is recognised when performance
pelaksanaan telah dipenuhi dengan obligations have been fulfilled by delivering
menyerahkan uap atau listrik yang the promised steam or electricity to the
dijanjikan ke pelanggan (ketika pelanggan customer (when the customer controls the
telah memiliki kendali atas barang atau jasa goods or services).
tersebut).
Transaksi penjualan uap dan listrik atas operasi For the sale transactions of steam and electricity
sendiri antara Perusahaan dengan PLN, Grup from the Company’s own operations to PLN, the
menyimpulkan bahwa mereka bertindak sebagai Group concluded that they act as the principal in
prinsipal dalam pengakuan pendapatannya. recognizing the revenue. Meanwhile, the cost
Sedangkan, biaya dan pendapatan sehubungan and revenue involving sales of steam and
dengan penjualan uap dan listrik antara electricity among the Company, geothermal
Perusahaan, kontraktor panas bumi dan PLN contractors and PLN are recorded as net based
dicatat secara bersih setelah on Energy Sales Contracts under a JOC. The
mempertimbangkan klausul di dalam PJBL contracts stipulate that the sale of steam and
dalam KOB. KOB tersebut mengharuskan electricity from the JOC contractors to PLN is to
penjualan uap dan listrik dari kontraktor KOB ke be made on the pass-through arrangement with
PLN dilakukan melalui Perusahaan, dimana the Company, in which the Company will charge
Perusahaan akan menjual kepada PLN pada PLN in the same amount of the purchase costs
nilai yang sama dengan biaya pembelian uap as the steam and electricity from the JOCs.
dan listrik dari kontraktor KOB.
Pendapatan dan beban lainnya diakui pada saat Other revenue and expenses are recognised as
terjadi berdasarkan konsep akrual. incurred on an accrual basis.
Page 572
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/22 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
3. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 3. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
k. Imbalan kerja k. Employee benefits
i. Program imbalan pasti i. Defined benefit plans
Liabilitas program pensiun imbalan pasti The liability recognised in the consolidated
yang diakui dalam laporan posisi keuangan statement of financial position in respect of
konsolidasian adalah nilai kini kewajiban defined benefit pension plans is the present
imbalan pasti pada tanggal pelaporan value of the defined benefit obligation at the
dikurangi nilai wajar aset program. reporting date less the fair value of plan
Perhitungan tersebut dilakukan oleh assets. An independent actuary performs
aktuaris independen dengan menggunakan the calculation using the projected unit
metode projected unit credit. Nilai kini credit method. The present value of the
kewajiban imbalan pasti ditentukan dengan defined benefit obligation is determined by
mendiskontokan estimasi arus kas keluar di discounting the estimated future cash
masa depan menggunakan tingkat bunga outflows using government bond interest
obligasi pemerintah dengan pertimbangan rates, considering that currently there is no
bahwa pada saat ini tidak terdapat pasar deep market for high-quality corporate
aktif untuk obligasi korporasi yang bonds with terms to maturity approximating
berkualitas tinggi yang memiliki periode the terms of the related liability.
jatuh temponya berdekatan dengan periode
liabilitas tersebut.
Beban yang diakui di laba rugi termasuk Expenses charged to profit or loss include
biaya jasa kini, beban/pendapatan bunga, current service costs, interest
biaya jasa lalu dan keuntungan/kerugian expense/income, past service costs, and
penyelesaian. gains and losses on settlements.
Pengukuran kembali program imbalan pasti Remeasurements of defined benefit plans
diakui dalam penghasilan komprehensif are recognised in other comprehensive
lain. Pengukuran kembali terdiri dari income. Remeasurements comprise
keuntungan dan kerugian aktuaria, imbal actuarial gains and losses, the return on
hasil aset program (diluar pendapatan plan assets (excluding amounts included in
bunga yang sudah diakumulasi dalam net interest on the net defined benefit
perhitungan bunga neto/aset) dan setiap liability/asset) and any change in the effect
perubahan atas dampak batas atas aset of the asset ceiling (excluding amounts
(diluar pendapatan bunga yang sudah included in net interest on the net defined
diakumulasi dalam perhitungan bunga benefit liability/asset).
neto/aset).
Page 573
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/23 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
3. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 3. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
k. Imbalan kerja (lanjutan) k. Employee benefits (continued)
i. Program imbalan pasti (lanjutan) i. Defined benefit plans (continued)
Biaya jasa lalu diakui segera dalam laba Past-service costs are recognised
rugi, kecuali perubahan pada program immediately in profit or loss unless the
pensiun tergantung pada kondisi karyawan changes to the pension plan are conditional
memberikan jasanya selama periode on the employees remaining in service for a
tertentu (periode vesting). Dalam hal ini, specified period of time (the vesting period).
biaya jasa lalu diamortisasi dengan In this case, the past-service costs are
menggunakan metode garis lurus amortised straight-line over the vesting
sepanjang periode vesting. period.
Keuntungan dan kerugian atas kurtailmen Gains and losses on curtailment are
diakui ketika terdapat komitmen untuk recognised when a commitment to reduce
mengurangi jumlah karyawan yang the number of employees covered by a plan
tercakup dalam suatu program secara or an amendment of defined benefit plan
signifikan atau ketika terdapat perubahan terms, such as a material element of future
ketentuan dalam program imbalan pasti services to be provided by current
yang menyebabkan bagian yang material employees no longer qualifying for benefits
dari jasa masa depan, karyawan tidak lagi or qualifying only for reduced benefits, is
memberikan imbalan atau memberikan made.
imbalan yang lebih rendah.
Bunga neto dihitung dengan menerapkan Net interest is calculated by applying the
tingkat diskonto yang digunakan terhadap discount rate to the net defined benefit
liabilitas imbalan kerja. Grup mengakui liability. The Group recognizes the following
perubahan berikut pada kewajiban obligasi changes in the net defined benefit obligation
neto pada akun “Beban Pokok Penjualan” under “Cost of Goods Sold” and “General
dan “Beban Umum dan Administrasi” pada and Administrative Expenses” as
laporan laba rugi dan penghasilan appropriate in the consolidated statement
komprehensif lain konsolidasian: of profit or loss and other comprehensive
i) Biaya jasa terdiri atas biaya jasa kini, income:
biaya jasa lalu, keuntungan atau i) Service costs comprising current service
kerugian atas penyelesaian costs, past-service costs, gains or losses
(curtailment) tidak rutin, dan on curtailments and non-routine
settlements, and
ii) Beban atau penghasilan bunga neto. ii) Net interest expense or income.
Program imbalan pasti yang The defined benefit plans provided by the
diselenggarakan oleh Grup meliputi pensiun Group cover defined benefit pension and
imbalan pasti dan kewajiban imbalan pasti defined benefit obligation under Job
berdasarkan Undang- Undang Cipta Kerja Creation Law No. 11/2020 (the “Job
No. 11/2020 (“Undang-Undang Cipta Creation Law”) (before January 1, 2021:
Kerja”) (sebelum 1 Januari 2021: Undang- Labour Law No. 13/2003 (the “Labour
Undang Ketenagakerjaan No. 13/2003 (“UU Law”)) or the Collective Labour Agreement
Ketenagakerjaan”)) atau Kontrak Kerja (the “CLA”), whichever is higher.
Bersama (“KKB”), mana yang lebih tinggi.
Page 574
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/24 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
3. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 3. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
k. Imbalan kerja (lanjutan) k. Employee benefits (continued)
ii. Imbalan kerja jangka panjang lainnya ii. Other long-term benefits
Kewajiban terkait dengan UTD dihitung oleh The obligation with respect to UTD is
aktuaris independen dengan menggunakan calculated by an independent actuary using
metode projected unit credit dan dibayarkan the projected unit credit method and paid
pada saat karyawan mencapai UTD tertentu when the employees reach certain
selama masa kerjanya. anniversary dates during employment.
Biaya jasa lalu dan keuntungan atau Past service cost and actuarial gains or
kerugian aktuarial yang timbul dari losses arising from experience adjustments
penyesuaian akibat perbedaan antara and changes in actuarial assumptions are
asumsi aktuarial dan kenyataan dan charged immediately to profit or loss.
perubahan asumsi-asumsi aktuarial
dibebankan secara langsung ke laba rugi.
l. Penjabaran mata uang asing l. Foreign currency translation
i. Mata uang fungsional dan penyajian i. Functional and presentation currency
Akun-akun yang tercakup dalam laporan Items included in the Group's consolidated
keuangan konsolidasian Grup diukur financial statements are measured using
menggunakan mata uang dari lingkungan the currency of the primary economic
ekonomi utama di mana entitas beroperasi environment in which the entity operates
(“mata uang fungsional”). Laporan (the “functional currency”). The
keuangan konsolidasian disajikan dalam consolidated financial statements are
ribuan dolar Amerika Serikat (US$), yang presented in thousands of US Dollars
merupakan mata uang fungsional dan (US$), which is the Group’s functional and
penyajian Grup. presentation currency.
ii. Transaksi dan saldo ii. Transactions and balances
Transaksi dalam mata uang selain dolar AS Transactions denominated in currencies
dikonversikan dengan menggunakan kurs other than the US dollar are converted using
yang berlaku pada tanggal transaksi. exchange rates prevailing at the dates of the
transactions.
Pada setiap tanggal pelaporan, aset dan At each reporting date, monetary assets
liabilitas moneter dalam mata uang asing and liabilities denominated in foreign
dijabarkan ke dalam mata uang dolar AS currencies are translated into US dollars
menggunakan kurs JISDOR yang berlaku using the JISDOR rate prevailing as of
pada tanggal 31 Desember 2025 dan 2024. December 31, 2025 and 2024. The
Kurs yang digunakan untuk mata uang exchange rates of the major foreign
asing utama adalah sebagai berikut (nilai currencies used are as follows (full amount):
penuh):
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
1.000 Rupiah/Dolar 1,000 Rupiah/
Amerika Serikat 0,06 0,06 US Dollar
1 Euro/Dolar 1 Euro/
Amerika Serikat 1,18 1,04 US Dollar
100 Yen Jepang/Dolar 100 Japanese
Amerika Serikat 0,64 0,63 Yen/US Dollar
Page 575
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/25 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
3. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 3. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
l. Penjabaran mata uang asing (lanjutan) l. Foreign currency translation (continued)
ii. Transaksi dan saldo (lanjutan) ii. Transactions and balances (continued)
Keuntungan dan kerugian selisih kurs yang Foreign exchange gains and losses
timbul dari penyelesaian transaksi dalam resulting from the settlement of such
mata uang asing dan dari penjabaran aset transactions and the translation at period-
dan liabilitas moneter dalam mata uang end exchange rates of monetary assets and
asing diakui di dalam laporan laba-rugi, liabilities denominated in foreign currencies
kecuali jika ditangguhkan di dalam ekuitas are recognised in profit or loss, except when
sebagai lindung nilai arus kas dan lindung deferred in equity as qualifying cash flow
nilai investasi bersih yang memenuhi hedges and qualifying net investment
syarat. hedges.
Keuntungan dan kerugian selisih kurs yang Foreign exchange gains and losses related
berhubungan dengan pinjaman, serta kas to borrowings and cash and cash
dan setara kas disajikan pada laporan laba- equivalents are presented in the profit or
rugi sebagai “(rugi)/laba selisih kurs”. loss within “(loss)/gain foreign exchange”.
m. Perpajakan m. Taxation
Pajak kini Current tax
Aset dan liabilitas pajak kini untuk periode Current income tax assets and liabilities for the
berjalan diukur sebesar jumlah yang diharapkan current period are measured at the amount
dapat direstitusi dari atau dibayarkan kepada expected to be recovered from or paid to the
otoritas perpajakan. Tarif pajak dan peraturan taxation authority. The tax rates and tax laws
pajak yang digunakan untuk menghitung jumlah used to compute the amount are those that have
tersebut adalah yang telah berlaku atau secara been enacted or substantively enacted as at the
substantif telah berlaku pada tanggal pelaporan reporting date in the countries where the Group
di negara tempat Grup beroperasi dan operates and generates taxable income.
menghasilkan pendapatan kena pajak.
Bunga dan denda disajikan sebagai bagian dari Interests and penalties are presented as part of
penghasilan atau beban operasi lain karena other operating income or expenses since they
tidak dianggap sebagai bagian dari beban pajak are not considered as part of the income tax
penghasilan. expense.
Pajak penghasilan kini terkait dengan pos-pos Current income tax relating to items recognised
yang diakui secara langsung di ekuitas diakui directly in equity is recognised in equity, not in
dalam ekuitas dan bukan dalam laporan laba the statement of profit or loss. Management
rugi. Manajemen secara berkala mengevaluasi periodically evaluates positions taken in the tax
posisi yang diambil dalam Surat Pemberitahuan returns concerning situations in which applicable
Tahunan (SPT) sehubungan dengan situasi di tax regulations are subject to interpretation and
mana peraturan perpajakan yang berlaku establishes provisions where appropriate.
tunduk pada interpretasi dan menetapkan
ketentuan yang sesuai.
Sesuai dengan Keputusan Presiden No. Following Presidential Decree No. 49/1991,
49/1991, Keputusan Menteri Keuangan No. Decision Letter of the Minister of Finance No.
766/KMK.04/1992, dan Peraturan Menteri 766/KMK.04/1992, and Ministry of Finance
Keuangan No. 90/PMK.02/2017, Grup sebagai Regulation No. 90/PMK.02/2017, the Group as a
pengusaha panas bumi berkewajiban menyetor geothermal producer is required to transfer the
bagian Pemerintah sebesar 34% dari laba usaha Government’s portion of the Group’s operating
bersih ke Kementerian Keuangan, yang income in the amount of 34% to the Ministry of
diperlakukan sebagai setoran pajak Finance, which amount is deemed to represent
penghasilan. corporate income tax.
Page 576
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/26 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
3. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 3. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
m. Perpajakan (lanjutan) m. Taxation (continued)
Pajak kini (lanjutan) Current tax (continued)
Sebagai tanggapan terhadap penerapan In response to the implementation of the
kerangka Pilar Dua Organisasi untuk Kerja Organisation for Economic Co-operation and
Sama dan Pembangunan Ekonomi Development (“OECD”) Pillar Two framework,
(Organisation for Economic Co-operation and on December 31, 2025, Indonesian Government
Development atau "OECD"), pada tanggal 31 implemented Pillar Two framework through
Desember 2025, Pemerintah Indonesia Ministry of Finance Regulation No. 136/2024
menerapkan kerangka Pilar Dua melalui (PMK 136/2024). The Pillar Two model rules as
Peraturan Menteri Keuangan No. 136/2024 implemented under PMK 136/2024 take effect
(PMK 136/2024) berlaku untuk tahun fiskal yang for fiscal years beginning on or after January 1,
dimulai pada atau setelah tanggal 1 Januari 2025. For the year ended December 31, 2025,
2025. Untuk tahun yang berakhir pada 31 the Group has applied amendments to PSAK
Desember 2025, Grup telah menerapkan 212: Income Taxes, which provide mandatory
amandemen PSAK 212: Pajak Penghasilan, temporary exception from recognizing or
yang memberikan pengecualian wajib disclosing deferred taxes related to Pillar Two.
sementara dari pengakuan atau pengungkapan
pajak tangguhan terkait Pilar Dua.
Pajak tangguhan Deferred tax
Pajak tangguhan diakui dengan menggunakan Deferred tax is provided using the liability method
metode liabilitas atas perbedaan temporer pada on temporary differences at the reporting date
tanggal pelaporan antara dasar pengenaan pajak between the tax bases of assets and liabilities and
dari aset dan liabilitas dan jumlah tercatatnya untuk their carrying amounts for financial reporting
tujuan pelaporan keuangan pada tanggal purposes at the reporting date.
pelaporan.
Aset pajak tangguhan diakui untuk seluruh Deferred tax assets are recognised for all
perbedaan temporer yang dapat dikurangkan dan deductible temporary differences and carry forward
akumulasi rugi pajak belum dikompensasi, bila of unused tax losses to the extent that it is probable
kemungkinan besar laba kena pajak akan tersedia that taxable profits will be available against which
sehingga perbedaan temporer dapat dikurangkan deductible temporary differences and the carry
tersebut, dan rugi pajak belum dikompensasi, forward of unused tax losses can be utilised,
dapat dimanfaatkan, kecuali: except:
i. jika aset pajak tangguhan timbul dari i. where the deferred tax asset relating to the
pengakuan awal aset atau liabilitas dalam deductible temporary difference arises from the
transaksi yang bukan transaksi kombinasi initial recognition of an asset or liability in a
bisnis dan tidak mempengaruhi laba akuntansi transaction that is not a business combination
maupun laba kena pajak/rugi pajak; atau and, at the time of the transaction, affects neither
the accounting profit nor taxable profit or loss; or
ii. dari perbedaan temporer yang dapat ii. in respect of deductible temporary differences
dikurangkan atas investasi pada entitas anak, associated with investments in subsidiaries,
aset pajak tangguhan hanya diakui bila besar deferred tax assets are recognised only to the
kemungkinannya bahwa beda temporer itu extent that the temporary differences will
tidak akan dibalik dalam waktu dekat dan laba probably reverse in the foreseeable future and
kena pajak dapat dikompensasi dengan beda taxable profit will be available against which the
temporer tersebut. temporary differences can be utilised.
Page 577
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/27 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
3. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 3. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
m. Perpajakan (lanjutan) m. Taxation (continued)
Pajak tangguhan (lanjutan) Deferred tax (continued)
Jumlah tercatat aset pajak tangguhan ditelaah The carrying amount of a deferred tax asset is
pada setiap tanggal pelaporan dan diturunkan reviewed at each reporting date and reduced to the
apabila laba kena pajak mungkin tidak memadai extent that it is no longer probable that sufficient
untuk mengkompensasi sebagian atau semua taxable profit will be available to allow all or part of
manfaat aset pajak tangguhan. Aset pajak the benefit of that deferred tax asset to be utilised.
tangguhan yang tidak diakui ditinjau ulang pada Unrecognised deferred tax assets are reassessed
setiap tanggal pelaporan dan akan diakui apabila at each reporting date. They are recognised to the
besar kemungkinan bahwa laba kena pajak pada extent that it has become probable that future
masa yang akan datang akan tersedia untuk taxable profit will allow the deferred tax assets to be
pemulihannya. recovered.
Pajak tangguhan terkait dengan pos-pos yang Deferred tax relating to items recognised outside
diakui di luar laba rugi diakui di luar laba rugi. Item profit or loss is recognised outside profit or loss.
pajak tangguhan diakui sesuai dengan transaksi Deferred tax items are recognized in correlation to
yang mendasarinya baik di PKL maupun secara the underlying transaction either in OCI or directly
langsung di ekuitas. in equity.
Manfaat pajak yang diperoleh sebagai bagian dari Tax benefits acquired as part of a business
kombinasi bisnis, tetapi tidak memenuhi kriteria combination but not satisfying the criteria for
untuk pengakuan terpisah pada tanggal tersebut, separate recognition at that date are recognised
diakui selanjutnya jika informasi baru tentang fakta subsequently if new information about facts and
dan keadaan berubah. Penyesuaian tersebut circumstances changes. The adjustment is either
diperlakukan sebagai pengurangan goodwill treated as a reduction in goodwill (as long as it does
(selama tidak melebihi goodwill) jika terjadi selama not exceed goodwill) if it was incurred during the
periode pengukuran atau diakui dalam laba rugi. measurement period or recognised in profit or loss.
Grup melakukan saling hapus aset pajak The Group offsets deferred tax assets and
tangguhan dan liabilitas pajak tangguhan jika deferred tax liabilities if and only if it has a legally
dan hanya jika memiliki hak yang berkekuatan enforceable right to set off current tax assets and
hukum untuk saling hapus aset pajak kini dan current tax liabilities and the deferred tax assets
liabilitas pajak kini dan aset pajak tangguhan and deferred tax liabilities relate to income taxes
dan liabilitas pajak tangguhan terkait dengan levied by the same taxation authority on either
pajak penghasilan yang dikenakan oleh otoritas the same taxable entity or different taxable
perpajakan yang sama atas baik entitas kena entities which intend either to settle current tax
pajak yang sama atau entitas kena pajak yang liabilities and assets on a net basis or to realise
berbeda yang bermaksud untuk menyelesaikan the assets and settle the liabilities
liabilitas dan aset pajak kini secara neto, atau simultaneously, in each future period in which
untuk merealisasikan aset dan menyelesaikan significant amounts of deferred tax liabilities or
liabilitas secara bersamaan, pada setiap periode assets are expected to be settled or recovered.
masa depan di mana jumlah liabilitas atau aset
pajak tangguhan yang signifikan diharapkan
untuk diselesaikan atau dipulihkan.
Pajak final Final tax
Sesuai peraturan perpajakan di Indonesia, In accordance with the tax regulation in
pajak final dikenakan atas nilai bruto transaksi, Indonesia, final tax is applied to the gross value
dan tetap dikenakan walaupun atas transaksi of transactions, even when the parties carrying
tersebut pelaku transaksi mengalami kerugian. the transaction recognizing losses.
Pajak final tidak termasuk dalam lingkup yang Final tax is scoped out from PSAK 212: Income
diatur oleh PSAK 212: Pajak Penghasilan. Tax.
Page 578
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/28 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
3. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 3. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
n. Penurunan nilai aset non-keuangan n. Impairment of non-financial assets
Pada setiap tanggal pelaporan, Grup menilai The Group assesses whether there is an
apakah terdapat indikasi suatu aset mengalami indication that an asset may be impaired at each
penurunan nilai. Jika terdapat indikasi tersebut reporting date. If such an indication exists or
atau pada saat pengujian penurunan nilai aset when annual impairment testing for an asset is
diperlukan, maka Grup membuat estimasi formal required, the Group estimates the asset’s
jumlah terpulihkan aset tersebut. recoverable amount.
Jumlah terpulihkan yang ditentukan untuk aset An asset’s recoverable amount is the higher of
individual adalah jumlah yang lebih tinggi antara an asset’s or Cash Generating Unit (“CGU’s”)
nilai wajar aset atau Unit Penghasil Kas (“UPK”) fair value less costs to sell and its value in use,
dikurangi biaya untuk menjual dengan nilai and is determined for an individual asset, unless
pakainya, kecuali aset tersebut tidak the asset does not generate cash inflows that are
menghasilkan arus kas masuk yang sebagian largely independent of those from other assets
besar independen dari aset atau kelompok aset or groups of assets. Where the carrying amount
lain. Jika nilai tercatat aset atau UPK lebih besar of an asset or CGU exceeds its recoverable
daripada jumlah terpulihkannya, maka aset amount, the asset is considered impaired and is
tersebut dipertimbangkan mengalami written down to its recoverable amount.
penurunan nilai dan nilai tercatat aset diturunkan
menjadi sebesar jumlah terpulihkannya
Grup mendasarkan perhitungan penurunan nilai The Group bases its impairment calculation on
pada rincian perhitungan anggaran atau detailed budgets and forecast calculations
prakiraan yang disusun secara terpisah untuk prepared separately for each of the Group’s
masing-masing UPK Grup atas aset individual CGUs to which the individual assets are
yang dialokasikan. Perhitungan anggaran dan allocated. These budgets and forecast
prakiraan ini secara umum mencakup periode calculations generally cover a period of each
kontrak terkait. Setelah periode yang contract. Beyond the forecasted period, the
dianggarkan proyeksi arus kas diestimasi estimated cash flows are determined by
dengan melakukan ekstrapolasi proyeksi yang extrapolating the forecasted cash flows using a
dianggarkan dengan menggunakan tingkat long-term growth rate.
pertumbuhan jangka panjang.
Dalam menghitung nilai pakai, estimasi arus kas In assessing the value in use, the estimated net
masa depan neto didiskontokan ke nilai kini future cash flows are discounted to their present
dengan menggunakan tingkat diskonto sebelum value using a pre-tax discount rate that reflects
pajak yang menggambarkan penilaian pasar kini current market assessments of the time value of
dari nilai waktu uang dan risiko spesifik atas money and the risks specific to the asset.
aset.
Page 579
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/29 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
3. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 3. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
n. Penurunan nilai aset non-keuangan (lanjutan) n. Impairment of non-financial assets
(continued)
Kerugian penurunan nilai dari operasi yang Impairment losses of continuing operations, if
berkelanjutan, jika ada, diakui pada laba rugi any, are recognized in the profit or loss in those
sesuai dengan kategori biaya yang konsisten expense categories consistent with the functions
dengan fungsi dari aset yang diturunkan of the impaired asset.
nilainya.
Penilaian dilakukan pada akhir setiap tanggal Assessment is made at each reporting date as
pelaporan apakah terdapat indikasi bahwa rugi to whether there is any indication that previously
penurunan nilai yang telah diakui dalam tahun recognized impairment losses may no longer
sebelumnya mungkin tidak ada lagi atau exist or may have decreased. If such indication
mungkin telah menurun. Jika indikasi dimaksud exists, the asset’s or CGU’s recoverable amount
ditemukan, maka entitas mengestimasi jumlah is estimated. A previously recognized
terpulihkan aset atau UPK tersebut. Kerugian impairment loss is reversed only if there has
penurunan nilai yang telah diakui dalam tahun been a change in the assumptions used to
sebelumnya dibalik hanya jika terdapat determine the asset’s recoverable amount since
perubahan asumsi-asumsi yang digunakan the last impairment loss was recognized. If that
untuk menentukan jumlah terpulihkan aset is the case, the carrying amount of the asset is
tersebut sejak rugi penurunan nilai terakhir increased to its recoverable amount. The
diakui. Dalam hal ini, jumlah tercatat aset reversal is limited so that the carrying amount of
dinaikkan ke jumlah terpulihkannya. Pembalikan the assets does not exceed its recoverable
tersebut dibatasi sehingga jumlah tercatat aset amount, nor exceed the carrying amount that
tidak melebihi jumlah terpulihkannya maupun would have been determined, net of
jumlah tercatat, neto setelah penyusutan, depreciation, had no impairment loss been
seandainya tidak ada rugi penurunan nilai yang recognized for the asset in prior periods/years.
telah diakui untuk aset tersebut pada Reversal of an impairment loss is recognized in
peride/tahun sebelumnya. Pembalikan rugi the profit or loss. After such a reversal, the
penurunan nilai diakui pada laba rugi. Setelah depreciation charge on the said asset is adjusted
pembalikan tersebut, penyusutan aset tersebut in future periods to allocate the asset’s revised
disesuaikan di periode mendatang untuk carrying amount, less any residual value, on a
mengalokasikan jumlah tercatat aset yang systematic basis over its remaining useful life.
direvisi, dikurangi nilai sisanya, dengan dasar
yang sistematis selama sisa umur manfaatnya.
Page 580
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/30 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
3. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 3. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
o. Instrumen keuangan o. Financial instruments
Instrumen keuangan adalah setiap kontrak yang A financial instrument is any contract that gives
menambah nilai aset keuangan bagi satu entitas rise to a financial asset of one entity and a
dan liabilitas keuangan atau ekuitas bagi entitas financial liability or equity instrument of another
lain. entity.
Aset keuangan Financial assets
Pengakuan awal dan pengukuran awal Initial recognition and measurement
Pada pengakuan awal, Grup mengukur aset At initial recognition, the Group measures a
keuangan pada nilai wajarnya ditambah biaya financial asset at its fair value plus transaction
transaksi, dalam hal aset keuangan tidak diukur costs, in the case of a financial asset not at fair
pada nilai wajar melalui laba rugi (“NWLR”). value through profit or loss (“FVTPL”).
Piutang usaha
Agar aset keuangan diklasifikasikan dan diukur In order for a financial asset to be classified and
pada biaya perolehan diamortisasi atau measured at amortized cost or FVOCI, it needs to
NWPKL, aset keuangan harus menghasilkan give rise to cash flows that are ‘solely payments
arus kas yang semata dari pembayaran pokok of principal and interest (“SPPI”)’ on the principal
dan bunga (“SPPB”) dari jumlah pokok terutang. amount outstanding. This assessment is referred
Penilaian ini disebut sebagai uji SPPB dan to as the SPPI test and is performed at an
dilakukan pada tingkat instrumen instrument level.
Model bisnis Grup untuk mengelola aset The Group’s business model for managing
keuangan mengacu pada bagaimana mereka financial assets refers to how it manages its
mengelola aset keuangannya untuk financial assets in order to generate cash flows.
menghasilkan arus kas. Model bisnis The business model determines whether cash
menentukan apakah arus kas akan dihasilkan flows will result from collecting contractual cash
dari penerimaan arus kas kontraktual, penjualan flows, selling the financial assets, or both.
aset keuangan, atau keduanya.
Pengukuran selanjutnya Subsequent measurement
Untuk tujuan pengukuran selanjutnya, aset For purposes of subsequent measurement,
keuangan diklasifikasikan dalam empat financial assets are classified in four categories:
kategori:
Aset keuangan pada biaya perolehan Financial assets at amortized cost (debt
diamortisasi (instrumen utang), instruments),
Aset keuangan pada NWPKL dengan Financial assets at FVOCI with recycling of
pendauran laba dan rugi kumulatif cumulative gains and losses (debt
(instrumen utang), instruments),
Aset keuangan pada NWPKL tanpa Financial assets designated at FVOCI with
pendauran laba dan rugi kumulatif setelah no recycling of cumulative gains and losses
penghentian pengakuan (instrumen upon derecognition (equity instruments),
ekuitas), dan and
Nilai wajar melalui laba rugi (NWLR). Fair value through profit or loss (FVTPL).
Page 581
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/31 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
3. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 3. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
o. Instrumen keuangan (lanjutan) o. Financial instruments (continued)
Aset keuangan (lanjutan) Financial assets (continued)
Pengukuran selanjutnya (lanjutan) Subsequent measurement (continued)
Pengukuran selanjutnya dari aset keuangan The subsequent measurement of financial assets
tergantung kepada klasifikasi masing-masing depends on their classification as described
aset keuangan seperti berikut ini: below:
Aset keuangan pada biaya perolehan Financial assets at amortized cost (debt
diamortisasi (instrumen utang) instruments)
Grup mengukur aset keuangan pada biaya The Group measures financial assets at
perolehan diamortisasi jika kedua kondisi berikut amortized cost if both of the following conditions
terpenuhi: are met:
Aset keuangan dimiliki dalam model bisnis The financial asset is held within a business
dengan tujuan untuk memiliki aset model with the objective to hold financial
keuangan dalam rangka mendapatkan assets in order to collect contractual cash
arus kas kontraktual, dan flows, and
Persyaratan kontraktual dari aset The contractual terms of the financial asset
keuangan menghasilkan arus kas pada give rise on specified dates to cash flows
tanggal tertentu yang merupakan SPPB that are SPPI on the principal amount
dari jumlah pokok terutang. outstanding.
Aset keuangan yang diukur pada biaya Financial assets at amortized cost are
perolehan diamortisasi selanjutnya diukur subsequently measured using the effective
dengan menggunakan metode suku bunga interest (“EIR”) method and are subject to
efektif (“SBE”) dan menjadi subjek penurunan impairment. Gains and losses are recognized in
nilai. Keuntungan dan kerugian diakui dalam profit or loss when the asset is derecognized,
laba rugi pada saat aset dihentikan modified or impaired.
pengakuannya, dimodifikasi atau diturunkan
nilainya.
Aset keuangan Grup yang diukur pada biaya The Group’s financial assets at amortized cost
perolehan diamortisasi termasuk kas dan setara includes cash and cash equivalents, restricted
kas, kas yang dibatasi penggunaannya, piutang cash, trade and other receivables.
usaha dan piutang lain-lain.
Aset keuangan pada NWPKL dengan Financial assets at FVOCI with recycling of
pendauran laba dan rugi kumulatif (instrumen cumulative gains and losses (debt instruments)
utang)
Untuk instrumen utang yang diukur pada For debt instruments at FVOCI, interest income,
NWPKL, pendapatan bunga, revaluasi mata foreign exchange revaluation and impairment
uang asing dan kerugian penurunan nilai atau losses or reversals are recognized in the
pembalikan diakui dalam laporan laba rugi dan statement of profit or loss and computed in the
dihitung dengan cara yang sama seperti untuk same manner as for financial assets measured
aset keuangan yang diukur pada biaya at amortized cost. The remaining fair value
perolehan diamortisasi. Perubahan nilai wajar changes are recognized in OCI. Upon
yang tersisa diakui di PKL. Pada saat derecognition, the cumulative fair value change
penghentian pengakuan, perubahan nilai wajar recognized in OCI is recycled to profit or loss.
kumulatif yang diakui di PKL direklasifikasi ke
laba rugi.
Page 582
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/32 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
3. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 3. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
o. Instrumen keuangan (lanjutan) o. Financial instruments (continued)
Aset keuangan (lanjutan) Financial assets (continued)
Pengukuran selanjutnya (lanjutan) Subsequent measurement (continued)
Aset keuangan pada NWPKL dengan Financial assets at FVOCI with recycling of
pendauran laba dan rugi kumulatif (instrumen cumulative gains and losses (debt instruments)
utang) (lanjutan) (continued)
Grup tidak memiliki instrumen utang yang diukur The Group does not have debt instruments at
pada NWPKL. FVOCI.
Aset keuangan pada NWPKL tanpa pendauran Financial assets designated at FVOCI with no
laba dan rugi kumulatif setelah penghentian recycling of cumulative gains and losses upon
pengakuan (instrumen ekuitas) derecognition (equity instruments)
Pada pengakuan awal, Grup dapat memilih Upon initial recognition, the Group can elect to
untuk menetapkan klasifikasi yang tidak dapat classify irrevocably its investments in equity
dikembalikan atas investasi pada instrumen instruments at FVOCI when they meet the
ekuitas sebagai NWPKL jika memenuhi definisi definition of equity under PSAK 232: Financial
ekuitas sesuai PSAK 232: Instrumen keuangan: instruments: Presentation and are not held for
Penyajian dan tidak dimiliki untuk trading. The classification is determined on an
diperdagangkan. Klasifikasi ditentukan atas instrument-by-instrument basis.
basis instrumen per instrumen.
Keuntungan dan kerugian atas aset keuangan Gains and losses on these financial assets are
ini tidak pernah didaur ke laba rugi, dan aset never recycled to profit or loss, and these
keuangan ini tidak menjadi subjek penurunan financial assets are not subject to impairment
nilai. Dividen diakui sebagai penghasilan lain- assessment. Dividends are recognized as other
lain dalam laba rugi pada saat hak atas income in the profit or loss when the right of
pembayaran telah ditetapkan. payment has been established.
Grup memilih untuk mengklasifikasi secara The Group elected to classify irrevocably its
takterbatalkan investasi ekuitas pada Grup equity investments in Pertamina Group under this
Pertamina masuk dalam kategori ini category.
Aset Keuangan pada nilai wajar melalui laba rugi Financial assets at fair value through profit or
(“NWLR”) loss (“FVTPL”)
Aset keuangan pada NWLR tercatat dalam Financial assets at FVTPL are carried in the
laporan posisi keuangan pada nilai wajar statement of financial position at fair value with
dengan perubahan neto nilai wajar yang diakui net changes in fair value recognized in the
dalam laporan laba rugi. statement of profit or loss.
Grup tidak memiliki aset keuangan yang diukur The Group does not have financial assets at
pada NWLR. FVTPL.
Page 583
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/33 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
3. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 3. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
o. Instrumen keuangan (lanjutan) o. Financial instruments (continued)
Aset keuangan (lanjutan) Financial assets (continued)
Penghentian pengakuan Derecognition
Aset keuangan (atau, sesuai dengan A financial asset (or, where applicable, a part of a
kondisinya, bagian dari aset keuangan atau financial asset or part of a group of similar
bagian dari kelompok aset keuangan serupa) financial assets) is primarily derecognized (i.e.,
terutama dihentikan pengakuannya (yaitu, removed from the Group’s consolidated
dihapuskan dari laporan posisi keuangan statement of financial position) when:
konsolidasian Grup) ketika:
Hak untuk menerima arus kas dari aset The rights to receive cash flows from the
telah berakhir; atau asset have expired; or
Grup telah mengalihkan haknya untuk The Group has transferred its rights to
menerima arus kas dari aset atau receive cash flows from the asset or has
menanggung kewajiban untuk membayar assumed an obligation to pay the received
arus kas yang diterima tersebut secara cash flows in full without material delay to a
penuh tanpa penundaan yang material third party under a ‘pass-through’
kepada pihak ketiga berdasarkan arrangement and either (a) the Group has
kesepakatan ‘pass-through’, dan salah transferred substantially all the risks and
satu dari (a) Grup telah mengalihkan rewards of the asset, or (b) the Group has
secara substansial seluruh risiko dan neither transferred nor retained
manfaat atas aset, atau (b) Grup tidak substantially all the risks and rewards of the
mengalihkan maupun tidak memiliki asset, but has transferred control of the
secara substansial atas seluruh risiko dan asset.
manfaat atas aset, tetapi telah
mengalihkan kendali atas aset.
Ketika Grup telah mengalihkan haknya untuk When the Group has transferred its rights to
menerima arus kas dari suatu aset atau telah receive cash flows from an asset or has entered
menandatangani kesepakatan ‘pass-through’, into a pass-through arrangement, it evaluates if,
Grup mengevaluasi jika, dan sejauh mana, and to what extent, it has retained the risks and
Grup masih mempertahankan risiko dan rewards of ownership. When it has neither
manfaat atas kepemilikan aset. Ketika Grup transferred nor retained substantially all of the
tidak mengalihkan maupun seluruh risiko dan risks and rewards of the asset, nor transferred
manfaat atas aset dipertahankan secara control of the asset, the Group continues to
substansial, maupun tidak mengalihkan kendali recognize the transferred asset to the extent of its
atas aset, Grup tetap mengakui aset yang continuing involvement. In that case, the Group
dialihkan sebesar keterlibatan also recognizes an associated liability. The
berkelanjutannya. Dalam kasus tersebut, Grup transferred asset and the associated liability are
juga mengakui liabilitas terkait. Aset yang measured on a basis that reflects the rights and
dialihkan dan liabilitas terkait diukur dengan obligations that the Group has retained.
basis yang mencerminkan hak dan kewajiban
yang masih dipertahankan oleh Grup.
Keterlibatan berkelanjutan dalam bentuk Continuing involvement that takes the form of a
jaminan atas aset yang ditransfer, diukur pada guarantee over the transferred asset is measured
nilai yang lebih rendah antara jumlah tercatat at the lower of the original carrying amount of the
awal aset dan jumlah maksimum imbalan yang asset and the maximum amount of consideration
dibutuhkan oleh Grup untuk membayar that the Group could be required to repay.
kembali.
Page 584
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/34 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
3. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 3. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
o. Instrumen keuangan (lanjutan) o. Financial instruments (continued)
Liabilitas keuangan Financial liabilities
Pengakuan dan pengukuran awal Initial recognition and measurement
Liabilitas keuangan diklasifikasikan, pada Financial liabilities are classified, at initial
pengakuan awal, sebagai liabilitas keuangan recognition, as financial liabilities at FVTPL, loans
yang diukur pada NWLR, utang dan pinjaman and borrowings, or as derivatives designated as
atau derivatif ditetapkan sebagai instrumen hedging instruments in an effective hedge, as
lindung nilai pada lindung nilai yang efektif, appropriate.
sesuai dengan kondisinya.
Semua liabilitas keuangan diakui pada nilai All financial liabilities are recognized initially at
wajar saat pengakuan awal dan, dalam hal fair value and, in the case of loans and
liabilitas keuangan dilklasifikasi sebagai utang borrowings and payables, net of directly
dan pinjaman, diakui pada nilai wajar setelah attributable transaction costs.
dikurangi biaya transaksi yang dapat
diatribusikan secara langsung.
Grup menetapkan liabilitas keuangannya The Group designates its financial liabilities as
sebagai utang dan pinjaman, seperti utang loans and borrowings, such as trade and other
usaha dan lain-lain, utang obligasi, pinjaman payables, bond payable, long term loan related
jangka panjang pihak berelasi, biaya masih party, accrued expense and lease liability.
harus dibayar dan liabilitas sewa.
Page 585
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/35 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
3. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 3. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
o. Instrumen keuangan (lanjutan) o. Financial instruments (continued)
Liabilitas keuangan (lanjutan) Financial liabilities (continued)
Pengukuran selanjutnya Subsequent measurement
Liabilitas keuangan pada NWLR Financial liabilities at FVTPL
Liabilitas keuangan yang diukur pada NWLR Financial liabilities at FVTPL include financial
mencakup liabilitas keuangan yang dimiliki liabilities held for trading and financial liabilities
untuk diperdagangkan dan liabilitas keuangan designated upon initial recognition as at FVTPL.
yang diukur pada NWLR yang ditetapkan saat
pengakuan awal.
Liabilitas keuangan diklasifikasikan sebagai Financial liabilities are classified as held for
dimiliki untuk diperdagangkan, jika liabilitas trading if they are incurred for the purpose of
keuangan tersebut diperoleh untuk tujuan dibeli repurchasing in the near term.
kembali dalam waktu dekat.
Liabilitas keuangan yang diukur pada NWLR Financial liabilities designated upon initial
yang ditetapkan saat pengakuan awal harus recognition at FVTPL are designated at the initial
memenuhi kriteria dalam PSAK 109 dan date of recognition, and only if the criteria in
ditetapkan pada tanggal pengakuan awal. Grup PSAK 109 are satisfied. The Group has not
tidak menetapkan liabilitas keuangan apapun designated any financial liability as at FVTPL.
sebagai liabilitas yang diukur pada NWLR.
Liabilitas keuangan pada biaya perolehan Financial liabilities at amortized cost (loan
diamortisasi (utang dan pinjaman) borrowings)
i) Utang dan pinjaman jangka panjang i) Long-term interest-bearing loans and
yang dikenakan bunga borrowings
Setelah pengakuan awal, utang dan Subsequent to initial recognition, long-
pinjaman jangka panjang yang berbunga term interest-bearing loans and
diukur pada biaya perolehan yang borrowings are measured at amortized
diamortisasi dengan menggunakan acquisition costs using EIR method. At
metode SBE. Pada tanggal pelaporan, the reporting dates, accrued interest is
biaya bunga yang masih harus dibayar recorded separately from the associated
dicatat secara terpisah, dari pokok borrowings within the current liabilities
pinjaman terkait, dalam bagian liabilitas section. Gains and losses are
jangka pendek. Keuntungan dan recognized in the profit or loss when the
kerugian diakui pada laba rugi ketika liabilities are derecognized as well as
liabilitas dihentikan pengakuannya through the EIR amortization process.
maupun melalui proses amortisasi
menggunakan metode SBE.
Biaya amortisasi dihitung dengan Amortized cost is calculated by taking
mempertimbangkan setiap diskonto atau into account any discount or premium on
premium atas akusisi dan komisi atau acquisition and fees or costs that are an
biaya yang merupakan bagian tidak integral part of the EIR. The EIR
terpisahkan dari SBE. Amortisasi SBE amortization is included in finance costs
dicatat sebagai beban keuangan pada in the profit or loss.
laba rugi.
Page 586
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/36 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
3. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 3. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
o. Instrumen keuangan (lanjutan) o. Financial instruments (continued)
Liabilitas keuangan (lanjutan) Financial liabilities (continued)
Pengukuran selanjutnya (lanjutan) Subsequent measurement (continued)
Liabilitas keuangan pada biaya perolehan Financial liabilities at amortized cost (loan
diamortisasi (utang dan pinjaman) (lanjutan) borrowings) (continued)
ii) Utang dan akrual ii) Payables and accruals
Liabilitas untuk utang usaha, utang lain-lain Liabilities for trade payables, other payables
dan biaya masih harus dibayar dinyatakan and accrued expenses are stated at carrying
sebesar jumlah tercatat (jumlah nosional), amounts (notional amounts), which
yang kurang lebih sebesar nilai wajarnya. approximate their fair values.
Penghentian pengakuan Derecognition
Suatu liabilitas keuangan dihentikan A financial liability is derecognized when the
pengakuannya pada saat kewajiban yang obligation under the contract is discharged or
ditetapkan dalam kontrak berakhir atau cancelled or expires.
dibatalkan atau kadaluwarsa.
Ketika sebuah liabilitas keuangan ditukar When an existing financial liability is replaced by
dengan liabilitas keuangan lain dari pemberi another from the same lender on substantially
pinjaman yang sama atas persyaratan yang different terms, or the terms of an existing liability
secara substansial berbeda, atau bila are substantially modified, such an exchange or
persyaratan dari liabilitas keuangan tersebut modification is treated as derecognition of the
secara substansial dimodifikasi, pertukaran atau original liability and recognition of a new liability,
modifikasi persyaratan tersebut dicatat sebagai and the difference in the respective carrying
penghentian pengakuan liabilitas keuangan amounts is recognized in the profit or loss.
orisinal dan pengakuan liabilitas keuangan baru,
dan selisih antara nilai tercatat masing-masing
liabilitas keuangan tersebut diakui pada laba
rugi.
Saling hapus instrumen keuangan Offsetting of financial instruments
Aset keuangan dan liabilitas keuangan disaling Financial assets and financial liabilities are offset,
hapuskan dan nilai netonya disajikan dalam and the net amount reported in the consolidated
laporan posisi keuangan konsolidasian jika, dan statement of financial position if, and only if, there
hanya jika, terdapat hak secara hukum untuk is a currently enforceable legal right to offset the
melakukan saling hapus atas jumlah tercatat recognized amounts and there is an intention to
dari aset keuangan dan liabilitas keuangan settle on a net basis, or to realize the assets and
tersebut dan terdapat intensi untuk settle the liabilities simultaneously.
menyelesaikan secara neto, atau untuk
merealisasikan aset dan menyelesaikan
liabilitas secara bersamaan.
Page 587
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/37 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
3. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 3. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
o. Instrumen keuangan (lanjutan) o. Financial instruments (continued)
Pengukuran nilai wajar Fair value measurement
Grup mengukur pada pengakuan awal The Group initially measures financial
instrumen keuangan pada nilai wajar, dan aset instruments at fair value, as well as the assets
dan liabilitas yang diakuisisi pada kombinasi and liabilities of the acquirees, based on
bisnis. Grup juga mengukur jumlah terpulihkan business combinations. It also measures
dari UPK tertentu berdasarkan nilai wajar specific recoverable amounts of the CGU using
dikurangi biaya pelepasan. fair value less cost of disposal (“FVLCD”).
Nilai wajar adalah harga yang akan diterima dari Fair value is the price that would be received to
menjual suatu aset atau harga yang akan sell an asset or paid to transfer a liability in an
dibayar untuk mengalihkan suatu liabilitas orderly transaction between market participants
dalam transaksi teratur antara pelaku pasar at the measurement date. The fair value
pada tanggal pengukuran. Pengukuran nilai measurement is based on the presumption that
wajar mengasumsikan bahwa transaksi untuk the transaction to sell the asset or transfer the
menjual aset atau mengalihkan liabilitas terjadi: liability takes place either:
i) Di pasar utama untuk aset atau liabilitas i) In the principal market for the asset or
tersebut, atau liability, or
ii) Jika tidak terdapat pasar utama, di pasar ii) In the absence of a principal market, in the
yang paling menguntungkan untuk aset atau most advantageous market for the asset or
liabilitas tersebut. liability.
Pasar utama atau pasar yang paling The principal or the most advantageous market
menguntungkan tersebut harus dapat diakses must be accessible to the Group.
oleh Grup.
Nilai wajar dari aset atau liabilitas diukur dengan The fair value of an asset or a liability is measured
menggunakan asumsi yang akan digunakan using the assumptions that market participants
pelaku pasar ketika menentukan harga aset would use when pricing the asset or liability,
atau liabilitas tersebut, dengan asumsi bahwa assuming that market participants act in their
pelaku pasar bertindak dalam kepentingan economic best interest.
ekonomi terbaiknya.
Pengukuran nilai wajar dari suatu aset A fair value measurement of a non-financial
nonkeuangan memperhitungkan kemampuan asset takes into account a market participant's
pelaku pasar untuk menghasilkan manfaat ability to generate economic benefits by using
ekonomik dengan menggunakan aset dalam the asset in its highest and best use or by selling
penggunaan tertinggi dan terbaiknya atau it to another market participant that would use
dengan menjualnya kepada pelaku pasar lain the asset in its highest and best use.
yang akan menggunakan aset tersebut pada
penggunaan tertinggi dan terbaiknya.
Grup menggunakan teknik penilaian yang The Group uses valuation techniques that are
sesuai dengan keadaan dan data yang appropriate in the circumstances and for which
memadai tersedia untuk mengukur nilai wajar, sufficient data are available to measure fair value,
dengan memaksimalkan masukan (input) yang maximizing the use of relevant observable inputs
dapat diamati (observable) yang relevan dan and minimizing the use of unobservable inputs.
meminimalkan masukan (input) yang tidak
dapat diamati (unobservable).
Page 588
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/38 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
3. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 3. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
o. Instrumen keuangan (lanjutan) o. Financial instruments (continued)
Pengukuran nilai wajar (lanjutan) Fair value measurement (continued)
Semua aset dan liabilitas yang nilai wajarnya All assets and liabilities for which fair value is
diukur atau diungkapkan dalam laporan measured or disclosed in the consolidated
keuangan konsolidasian dikategorikan dalam financial statements are categorized within the
hierarki nilai wajar berdasarkan level masukan fair value hierarchy, described as follows,
(input) paling rendah yang signifikan terhadap based on the lowest level input that is significant
pengukuran nilai wajar secara keseluruhan to the fair value measurement as a whole:
sebagai berikut:
i) Level 1 - Harga kuotasian (tanpa i) Level 1 - Quoted (unadjusted) market prices
penyesuaian) di pasar aktif untuk aset atau in active markets for identical assets or
liabilitas yang identik yang dapat diakses liabilities.
entitas pada tanggal pengukuran.
ii) Level 2 - Teknik penilaian yang ii) Level 2 - Valuation techniques for which the
menggunakan tingkat masukan (input) yang lowest level input that is significant to the fair
paling rendah yang signifikan terhadap value measurement is directly or indirectly
pengukuran nilai wajar yang dapat diamati observable.
(observable) baik secara langsung atau tidak
langsung.
iii) Level 3 - Teknik penilaian yang iii) Level 3 - Valuation techniques for which the
menggunakan tingkat masukan (input) yang lowest level input that is significant to the fair
paling rendah yang signifikan terhadap value measurement is unobservable.
pengukuran nilai wajar yang tidak dapat
diamati (unobservable).
Untuk aset dan liabilitas yang diakui pada For assets and liabilities that are recognized in
laporan keuangan konsolidasian secara the consolidated financial statements on a
berulang, Grup menentukan apakah terdapat recurring basis, the Group determines whether
perpindahan antara level dalam hierarki dengan transfers have occurred between levels in the
melakukan evaluasi ulang atas penetapan hierarchy by re-assessing categorization
kategori (berdasarkan level masukan (input) (based on the lowest level input that is
paling rendah yang signifikan terhadap significant to the fair value measurement as a
pengukuran nilai wajar secara keseluruhan) whole) at the end of each reporting period.
pada tiap akhir periode pelaporan.
Page 589
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/39 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
3. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 3. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
p. Penurunan nilai dari aset keuangan p. Impairment of financial assets
i. Aset yang dicatat berdasarkan biaya i. Assets carried at amortized cost
perolehan diamortisasi
Grup menilai dengan dasar perkiraan masa The Group assesses on a forward-looking
yang akan datang kerugian kredit basis the expected credit losses (“ECL”)
ekspektasian (“ECL”) terkait dengan associated with its debt instruments carried
instrumen utangnya yang dicatat pada at amortised cost, fair value through profit or
biaya perolehan diamortisasi, nilai wajar loss (“FVTPL”) and fair value through other
melalui laba rugi (“FVTPL”) dan nilai wajar comprehensive income (“FVOCI”). The
melalui penghasilan komprehensif lain impairment methodology applied depends
(“FVOCI”). Metodologi penurunan nilai yang on whether there has been a significant
diterapkan tergantung pada apakah telah increase in credit risk. Note 30.I.b details
terjadi peningkatan risiko kredit yang how the group determines whether there
signifikan. Catatan 30.I.b merinci has been a substantial increase in credit
bagaimana grup menentukan apakah telah risk.
terjadi peningkatan risiko kredit yang
signifikan.
Untuk piutang dagang, Grup menerapkan For trade receivables, the Group applies the
pendekatan yang disederhanakan yang simplified approach permitted by PSAK 109,
diizinkan oleh PSAK 109, yang which requires expected lifetime losses to
mensyaratkan kerugian seumur hidup yang be recognised from the receivables initial
diharapkan harus diakui dari pengakuan recognition.
awal piutang.
Jika terdapat bukti objektif bahwa kerugian Suppose there is objective evidence that an
penurunan niIai telah terjadi, maka jumlah impairment loss has occurred; the amount
kerugian tersebut diukur sebesar selisih of loss is measured as the difference
nilai tercatat aset dengan nilai kini estimasi between the asset’s carrying amount and
arus kas masa depan (tidak termasuk the present value of estimated future cash
kerugian kredit di masa depan yang belum flows (excluding future credit losses that
terjadi) yang didiskonto dengan have not been incurred) discounted at the
menggunakan suku bunga efektif awal dari financial asset’s original effective interest
aset tersebut. Nilai tercatat aset tersebut rate. The asset's carrying amount is directly
dikurangi, baik secara langsung maupun reduced or through a provision account. The
menggunakan pos provisi. Jumlah kerugian amount of the loss is recognised in the profit
yang terjadi diakui pada laporan laba rugi. or loss.
Jika, pada periode berikutnya, jumlah If, in a subsequent period, the amount of the
kerugian penurunan nilai berkurang dan impairment loss decreases and the
pengurangan tersebut dapat dikaitkan decrease can be related objectively to an
secara objektif dengan peristiwa yang event occurring after the impairment was
terjadi setelah penurunan nilai diakui recognised (such as an improvement in the
(seperti meningkatnya peringkat kredit debtor’s credit rating), the previously
debitur), maka kerugian penurunan nilai recognised impairment loss will be reversed
yang sebelumnya diakui akan dipulihkan, either directly or by adjusting the provision
baik secara langsung, atau dengan account. The reversal amount is recognised
menyesuaikan pos provisinya. Jumlah in the profit or loss and cannot exceed what
pemulihan tersebut diakui pada laporan the amortised cost would have been had the
laba-rugi dan jumlahnya tidak boleh impairment not been recognized when the
mengakibatkan nilai tercatat aset keuangan impairment was reversed.
melebihi biaya perolehan diamortisasi pada
tanggal pemulihan dilakukan seandainya
tidak ada penurunan nilai.
Page 590
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/40 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
3. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 3. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
q. Informasi segmen q. Segment information
Segmen adalah komponen Grup yang dapat A segment is a distinguishable component of the
dibedakan dalam kegiatan operasional Grup Group that is engaged either in the Group’s
(segmen usaha), atau dalam pembagian lokasi operational activities (operating segment) or in
geografis dimana Grup melakukan kegiatan the classification of geographical locations
operasional (segmen geografis), yang where the Group conducts operational activities
merupakan subyek yang mempunyai risiko dan (geographic segment), which is subject to risks
manfaat yang berbeda dari segmen lainnya. and rewards that are different from those of other
segments.
Segmen pendapatan, beban, hasil, aset dan Segment revenue, expenses, results, assets,
liabilitas termasuk hal-hal yang dapat and liabilities include items directly attributable to
diatribusikan secara langsung terhadap sebuah a segment and those that can be allocated
segmen dan juga yang dapat dialokasikan pada reasonably to that segment.
dasar yang wajar pada segmen tersebut.
Untuk tujuan manajemen, Grup dibagi menjadi For management purposes, the Group is
segmen operasi berdasarkan pembagian lokasi organized into operating segments based on the
geografis dari kegiatan operasional Grup yang classification of geographical locations where
dikelola secara independen oleh masing-masing the Group conducts operational activities. The
pengelola segmen yang bertanggung jawab atas respective segment managers are
kinerja dari masing-masing segmen. independently managed and responsible for the
performance of the respective segments under
their charge.
Para pengelola segmen melaporkan secara The segment managers report directly to
langsung kepada manajemen yang secara management, who regularly review the segment
teratur mengkaji laba segmen sebagai dasar results to allocate resources to the segments
untuk mengalokasikan sumber daya ke masing- and assess their performance. Note 32 provides
masing segmen dan untuk menilai kinerja additional disclosures on each segment,
segmen. Pengungkapan tambahan pada including the factors used to identify the
masing-masing segmen terdapat dalam Catatan reportable segments and the measurement
32, termasuk faktor yang digunakan untuk basis of segment information.
mengidentifikasi segmen yang dilaporkan dan
dasar pengukuran informasi segmen.
r. Dividen tunai r. Cash dividends
Perusahaan mengakui liabilitas untuk The Company recognises a liability to pay
membayar dividen ketika distribusi telah a dividend when the distribution is authorised,
disetujui, dan distribusi tidak lagi atas and the distribution is no longer at the
kebijaksanaan Perusahaan. Sesuai dengan discretion of the Company. As per the
hukum perusahaan di Indonesia, distribusi corporate laws of Indonesia, a distribution is
diperbolehkan jika disetujui oleh pemegang permitted when the shareholders approve it. A
saham. Jumlah yang sesuai diakui secara corresponding amount is recognised directly in
langsung dalam ekuitas. equity.
Page 591
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/41 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
3. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 3. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
s. Tambahan modal disetor s. Additional paid-in capital
Tambahan modal disetor diakui pada saat Grup Additional paid-in capital is recognised when the
menerima setoran berupa kas atau aset non-kas Group receives a transfer of cash or non-cash
dari pemegang saham. Selisih nilai transaksi assets from the shareholders. The difference in
restrukturisasi entitas sepengendali juga dicatat the value of restructuring transactions between
di akun ini. Tambahan modal disetor ini disajikan entities under common control is also recorded
sebagai kelompok ekuitas pada laporan posisi in this account. Additional paid-in capital is
keuangan. presented as equity in the statement of financial
position.
t. Bonus produksi t. Production bonus
Sesuai dengan Peraturan Pemerintah No. 28 In accordance with Government Regulation
Tahun 2016, Grup sebagai pengusaha panas No. 28 of 2016, the Group, as a geothermal
bumi berkewajiban membayar bonus produksi producer, is obliged to pay a production bonus to
kepada pemerintah daerah di mana wilayah the regional government where the geothermal
kerja panas bumi berada. Bonus produksi working area is located. The production bonus is
dikenakan sebesar 1% atas pendapatan kotor charged at 1% of gross revenue from the sale of
dari penjualan uap panas bumi dan 0,5% atas geothermal steam and 0.5% of gross revenue
pendapatan kotor dari penjualan listrik. from the sale of electricity. The production bonus
Perhitungan bonus produksi dari pemegang Izin calculation from the Geothermal Permit holders
Panas Bumi dilakukan secara tahunan, is made annually, while the production bonus
sedangkan perhitungan dari pemegang kuasa calculation from the holders of geothermal
pengusahaan sumber daya panas bumi, resource exploitation authority, the JOC
pemegang KOB, dan pemegang izin contractors, and the holders of the geothermal
pengusahaan sumber daya panas bumi resource exploitation license every quarter.
dilakukan secara triwulanan.
Bonus produksi yang telah dibayarkan tersebut The paid production bonus is reimbursable from
diberikan penggantian dari setoran bagian the Government’s portion of the operating
Pemerintah (Catatan 3m). Penggantian tersebut income (Note 3m). The reimbursement will be
akan dilakukan oleh Pemerintah setelah made by the Government after the geothermal
pengusaha panas bumi membayar setoran producer paid such Government’s portion.
bagian Pemerintah.
u. Laba per saham u. Earnings per share
Laba per saham dihitung berdasarkan rata-rata Earnings per share is calculated based on the
tertimbang jumlah saham yang yang beredar weighted average number of issued and fully
selama periode yang bersangkutan. paid shares during the period.
Apabila jumlah saham biasa yang beredar If the number of ordinary shares outstanding is
meningkat tanpa disertai peningkatan sumber increased without an increase in resources, the
daya, maka jumlah saham biasa yang beredar number of ordinary shares outstanding before
sebelum peristiwa tersebut disesuaikan dengan the event is adjusted the proportionate change in
perubahan proporsional atas jumlah saham the number of ordinary shares outstanding
beredar seolah-olah peristiwa tersebut terjadi before the event is adjusted for the proportionate
pada permulaan dari periode sajian paling awal. change in the number of ordinary shares
outstanding as if the event had occurred at the
beginning of the earliest period presented.
Page 592
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/42 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
3. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 3. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
v. Kompensasi berbasis saham v. Shared-based payments
Grup memberikan Management and Employee The Group granted directors and key employees
Stock Option Program ("MESOP") dengan harga a Management and Employee Stock Option
dan periode vesting yang telah ditetapkan Program ("MESOP") based on specific criteria at
kepada manajemen dan karyawan berdasarkan a predetermined price and vesting period.
kriteria tertentu.
Transaksi kompensasi berbasis saham yang Equity-settled share-based payment
diselesaikan dengan instrumen ekuitas transactions
Biaya transaksi yang diselesaikan dengan The cost of equity-settled transactions is
ekuitas ditentukan oleh nilai wajar pada tanggal determined by the fair value at the date when the
pemberian dibuat menggunakan model grant is made using an appropriate valuation
penilaian yang sesuai. model.
Biaya tersebut diakui sebagai beban imbalan That cost is recognised in employee benefits
kerja, bersama dengan peningkatan ekuitas expense and a corresponding increase in equity
(tambahan modal saham), selama periode (additional paid-in capital) over the period in
dimana layanan dan, jika ada, kondisi kinerja which the service and, where applicable, the
terpenuhi (periode vesting). Biaya kumulatif performance conditions are fulfilled (the vesting
yang diakui untuk transaksi yang diselesaikan period). The cumulative expense recognised for
secara ekuitas pada setiap tanggal pelaporan equity-settled transactions at each reporting
sampai tanggal vesting mencerminkan sejauh date until the vesting date reflects the extent to
mana periode vesting telah berakhir dan which the vesting period has expired and the
estimasi terbaik Grup tentang jumlah instrumen Group's best estimate of the number of equity
ekuitas yang pada akhirnya akan terutang. instruments that will ultimately vest. The
Beban atau kredit dalam laba rugi untuk suatu expense or credit in the statement of profit or loss
periode merupakan pergerakan dalam biaya for a period represents the movement in
kumulatif yang diakui pada awal dan akhir cumulative expense recognised at the beginning
periode tersebut. and end of that period.
Kondisi kinerja layanan dan bukan pasar tidak Service and non-market performance conditions
diperhitungkan ketika menentukan nilai wajar are not considered when determining the grant
saat pemberian penghargaan, tetapi date fair value of awards. Still, the likelihood of
kemungkinan kondisi yang dipenuhi dinilai the conditions being met is assessed as part of
sebagai bagian dari estimasi terbaik Grup the Group's best estimate of the number of
tentang jumlah instrumen ekuitas yang pada equity instruments that will ultimately vest.
akhirnya akan diberikan. Kondisi kinerja pasar Market performance conditions are reflected
tercermin dalam nilai wajar tanggal hibah. within the grant date fair value. Any other
Kondisi lain yang terkait dengan penghargaan, conditions attached to an award without an
tetapi tanpa persyaratan layanan terkait, associated service requirement are considered
dianggap sebagai kondisi non-vesting. Kondisi non-vesting. Non vesting conditions are
non-vesting tercermin dalam nilai wajar dari reflected in the fair value of an award and lead to
penghargaan dan mengarah pada pembebasan an immediate expensing of an award unless
langsung dari penghargaan kecuali ada juga there are also service and/or performance
kondisi layanan dan/atau kinerja. conditions.
Page 593
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/43 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
3. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 3. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
v. Kompensasi berbasis saham (lanjutan) v. Share-based payments (continued)
Transaksi kompensasi berbasis saham yang Equity-settled share-based payment
diselesaikan dengan instrumen ekuitas transactions (continued)
(lanjutan)
Tidak ada biaya yang diakui untuk penghargaan No expense is recognised for awards that do not
yang pada akhirnya tidak diberikan karena ultimately vest because non-market
kinerja bukan pasar dan/atau kondisi layanan performance and/or service conditions have not
belum dipenuhi. Jika penghargaan termasuk been met. Where awards include a market or
kondisi pasar atau non-vesting, transaksi non-vesting condition, the transactions are
diperlakukan sebagai vested terlepas dari treated as vested irrespective of whether the
apakah kondisi pasar atau non-vesting market or non-vesting condition is satisfied,
dipenuhi, asalkan semua kinerja dan/atau provided all other performance and/or service
kondisi layanan lainnya dipenuhi. conditions are satisfied.
Ketika ketentuan penghargaan ekuitas When the terms of an equity-settled award are
diselesaikan dimodifikasi, biaya minimum yang modified, the minimum expense recognised is
diakui adalah tanggal hibah nilai wajar dari the grant date fair value of the unmodified award,
penghargaan yang tidak dimodifikasi, asalkan provided the original terms of the award are met.
ketentuan asli dari penghargaan tersebut An additional cost, measured as at the date of
terpenuhi. Biaya tambahan, yang diukur pada modification, is recognised for any modification
tanggal modifikasi, diakui untuk setiap modifikasi that increases the total fair value of the share-
yang meningkatkan nilai wajar total transaksi based payment transaction or is otherwise
kompensasi berbasis saham, atau sebaliknya beneficial to the employee. Where the entity or
menguntungkan bagi karyawan. Jika suatu the counterparty cancels an award, any
putusan dibatalkan oleh entitas atau oleh pihak remaining element of the award's fair value is
lawan, elemen yang tersisa dari nilai wajar dari expensed immediately through profit or loss. In
penghargaan dibebankan langsung melalui laba the event that the employees and management
rugi. Dalam hal karyawan dan manajemen resign before the vesting period, then the option
melakukan pengunduran diri sebelum periode rights are void, and all equity that the Group has
vesting, maka hak opsi tersebut gugur dan recorded is cancelled.
seluruh ekuitas yang telah dicatat oleh Grup
dibatalkan.
Efek dilutif dari kompensasi berbasis saham The dilutive effect of share-based payments is
tercermin sebagai dilusi saham tambahan dalam reflected as additional share dilution in the
perhitungan laba per saham dilusian. computation of diluted earnings per share.
Page 594
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/44 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
3. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 3. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
w. Investasi pada ventura bersama w. Investment in joint venture
Ventura bersama merupakan pengaturan A joint venture is a joint arrangement in which the
bersama antara beberapa pihak yang parties that share joint control have rights to the
melakukan kesepakatan pengendalian bersama net assets of the arrangement. Joint ventures
yang memiliki hak atas aset neto pengaturan are accounted for using the equity method after
tersebut. Ventura bersama dicatat initially being recognised at cost in the statement
menggunakan metode ekuitas, setelah pada of financial position.
awalnya diakui sebagai biaya pada laporan
posisi keuangan.
Metode ekuitas Equity method
Sesuai metode ekuitas, investasi pada awalnya Under the equity method, the investment is
dicatat pada biaya perolehan dan selanjutnya initially recognised at cost and adjusted
disesuaikan untuk mengakui bagian investor thereafter to recognise the investor's share of the
atas laba rugi pasca akuisisi dari investee atas investee's post-acquisition profits or losses in
laba rugi, dan bagiannya dalam pergerakan profit or loss and its share of the investee's
pendapatan komprehensif lainnya dari investee movements in other comprehensive income in
atas pendapatan komprehensif lainnya. other comprehensive income.
Jika bagian Grup atas kerugian ventura bersama When the Group’s share of losses in a joint
sama dengan atau melebihi kepentingannya venture equals or exceeds its interest in the joint
pada ventura bersama, Grup menghentikan venture, the Group does not recognise further
pengakuan bagian kerugiannya, kecuali Grup losses unless it has incurred legal or
memiliki kewajiban atau melakukan pembayaran constructive obligations or made payments on
atas nama ventura bersama. behalf of the joint venture.
Keuntungan yang belum terealisasi atas Unrealised gains on transactions between the
transaksi antara Grup dengan ventura bersama group and its joint ventures are eliminated to the
dieliminasi sebesar kepentingan Grup dalam extent of the Group’s interest in these joint
ventura bersama tersebut. Kerugian yang belum ventures. Unrealised losses are also eliminated
terealisasi juga dieliminasi kecuali transaksi unless the transaction provides evidence of an
tersebut memberikan bukti adanya penurunan impairment of the asset transferred. Accounting
nilai aset yang dialihkan. Kebijakan akuntansi policies of the joint ventures have been changed
ventura bersama telah diubah jika diperlukan where necessary to ensure consistency with the
untuk memastikan konsistensi dari kebijakan policies adopted by the Group.
yang diterapkan oleh Grup.
Dividen yang diterima dan yang akan diterima Dividends received or receivable from joint
dari ventura bersama diakui sebagai pengurang ventures are recognised as a reduction in the
jumlah tercatat investasi. carrying amount of the investment.
Pada setiap tanggal pelaporan, Grup The Group determines at each reporting date
menentukan apakah terdapat bukti objektif whether there is any objective evidence that the
bahwa telah terjadi penurunan nilai pada investment in the joint venture is impaired. If this
investasi pada ventura bersama. Jika demikian, is the case, the Group calculates the impairment
maka Grup menghitung besarnya penurunan as the difference between the recoverable
nilai sebagai selisih antara jumlah yang amount of the joint venture and its carrying
terpulihkan dan nilai tercatat atas investasi pada value. It recognises the amount in profit or loss.
ventura bersama dan mengakui selisih tersebut
pada laba rugi.
Page 595
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/45 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
3. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 3. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
w. Investasi pada ventura bersama (lanjutan) w. Investment in joint venture (continued)
Pelepasan Disposal
Investasi pada ventura bersama dihentikan Investment in a joint venture is derecognised
pengakuannya apabila Grup tidak lagi memiliki when the Group loses significant influence, and
pengaruh signifikan. Grup mengukur investasi any retained equity interest in the entity is
yang tersisa sebesar nilai wajar. Selisih antara remeasured at its fair value. The difference
jumlah tercatat investasi yang tersisa pada between the carrying amount of the retained
tanggal hilangnya pengaruh signifikan dan nilai interest at the date when significant influence is
wajarnya diakui dalam laba rugi. lost, and its fair value is recognised in profit or
loss.
Keuntungan dan kerugian yang timbul dari Gains and losses arising from partial disposals
pelepasan sebagian atau dilusi yang timbul pada or dilutions of investment in a joint venture in
investasi pada ventura bersama dimana which significant influence is retained are
pengaruh signifikan masih dipertahankan diakui recognised in profit or loss, and only a
dalam laba rugi dan hanya suatu bagian proportionate share of the amount previously
proporsional atas jumlah yang telah diakui recognised in other comprehensive income is
sebelumnya pada pendapatan komprehensif reclassified to profit or loss where appropriate.
lainnya yang direklasifikasi ke laba rugi.
4. PERTIMBANGAN, ESTIMASI DAN ASUMSI YANG 4. SIGNIFICANT ACCOUNTING JUDGEMENTS,
SIGNIFIKAN ESTIMATES AND ASSUMPTIONS
Penyusunan laporan keuangan konsolidasian Grup The preparation of the Group’s consolidated financial
mengharuskan manajemen untuk membuat statements requires management to make
pertimbangan, estimasi dan asumsi yang judgments, estimates and assumptions that affect the
mempengaruhi jumlah yang dilaporkan dari reported amounts of revenues, expenses, assets and
pendapatan, beban, aset dan liabilitas, dan liabilities, and the disclosures of contingent liabilities,
pengungkapan atas liabilitas kontinjensi, pada akhir at the end of the reporting periods.
periode pelaporan.
Ketidakpastian mengenai asumsi dan estimasi Uncertainty about these assumptions and estimates
tersebut dapat mengakibatkan penyesuaian material could result in outcomes that may require material
terhadap nilai tercatat aset dan liabilitas yang adjustments to the carrying amounts of the assets
terpengaruh pada periode pelaporan berikutnya. and liabilities affected in future periods.
Page 596
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/46 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
4. PERTIMBANGAN, ESTIMASI DAN ASUMSI YANG 4. SIGNIFICANT ACCOUNTING JUDGEMENTS,
SIGNIFIKAN (lanjutan) ESTIMATES AND ASSUMPTIONS (continued)
Estimasi dan Asumsi Estimates and Assumptions
- Penurunan nilai aset non-keuangan - Non-financial asset impairment
Sesuai dengan kebijakan akuntansi Grup, setiap Following the Group’s accounting policies, each
aset atau unit penghasil kas dievaluasi pada asset or cash-generating unit is evaluated every
setiap periode pelaporan untuk menentukan ada reporting period to determine any impairment
tidaknya indikasi penurunan nilai aset. Jika indications. If any such indication exists, a formal
terdapat indikasi tersebut, akan dilakukan estimate of the recoverable amount is
perkiraan atas nilai aset yang dapat dipulihkan performed, and an impairment loss recognised
kembali dan kerugian akibat penurunan nilai to the extent that the carrying amount exceeds
akan diakui sebesar selisih antara nilai tercatat the recoverable amount. The recoverable
aset dengan nilai yang dapat dipulihkan kembali amount of an asset or cash-generating unit is
dari aset tersebut. Jumlah nilai yang dapat measured at the higher of fair value, fewer costs
dipulihkan kembali dari sebuah aset atau to sell, and lower value in use.
kelompok aset penghasil kas diukur
berdasarkan nilai yang lebih tinggi antara nilai
wajar dikurangi biaya untuk menjual dan
perhitungan nilai pakai.
Aset yang memiliki masa manfaat yang tak Assets with an indefinite useful life - for example,
terbatas, seperti goodwill atau aset tak berwujud goodwill or intangible assets not ready to use -
yang belum siap untuk digunakan, tidak are not subject to amortisation and are tested
diamortisasi dan diuji setiap tahun untuk annually for impairment.
penurunan nilai.
Penentuan nilai wajar dan nilai pakai Determining fair value and value in use requires
membutuhkan manajemen untuk membuat management to make estimates and
estimasi dan asumsi atas produksi uap atau assumptions about expected steam or electricity
listrik yang diharapkan, harga uap atau listrik, production, steam or electricity prices, operating
biaya operasi, serta belanja modal di masa costs, and future capital expenditures.
depan.
Manajemen menggunakan estimasi terbaik Management uses the best estimation based on
berdasarkan data yang tersedia pada tanggal available data at the financial reporting date in
pelaporan keuangan dalam penentuan sumber resource and reserve bookings and the
daya dan cadangan serta skenario development scenario on geothermal projects
pengembangan untuk proyek panas bumi yang with impairment indication.
terdapat indikasi penurunan nilai.
- Pengukuran instrumen ekuitas - Equity instrument measurement
Grup mengukur investasi di instrumen ekuitas The Group measures equity investment where
dimana Grup tidak memiliki pengaruh signifikan the Group has no significant influence or control
ataupun kontrol pada nilai wajarnya. Nilai wajar over its fair value. The fair value of an asset is
atas suatu aset ditentukan berdasarkan metode determined based on the discounted cash flow
arus kas diskonto, yang dihitung berdasarkan methods, calculated based on management’s
asumsi dan estimasi manajemen. Perubahan assumptions and estimates. Changing the key
asumsi penting, termasuk asumsi tingkat assumptions, including the discount rates or the
diskonto atau tingkat pertumbuhan dalam growth rate assumptions in the cash flow
proyeksi arus kas dan asumsi harga, dapat projections and price assumptions, could
memengaruhi perhitungan nilai yang dapat materially affect the calculations of recoverable
diperoleh kembali secara material. amounts.
Page 597
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/47 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
4. PERTIMBANGAN, ESTIMASI DAN ASUMSI YANG 4. SIGNIFICANT ACCOUNTING JUDGEMENTS,
SIGNIFIKAN (lanjutan) ESTIMATES AND ASSUMPTIONS (continued)
Estimasi dan Asumsi (lanjutan) Estimates and Assumptions (continued)
- Imbalan kerja - Employee benefits
Penentuan liabilitas imbalan kerja Grup Determining the Group’s employee benefits
bergantung pada pemilihan asumsi yang liability depends on the independent actuaries'
digunakan oleh aktuaris independen dalam selection of certain assumptions when
menghitung jumlah-jumlah tersebut. Asumsi calculating such amounts. Those assumptions
tersebut termasuk antara lain, tingkat diskonto, include discount rates, salary increase rate,
tingkat kenaikan gaji, tingkat kematian, usia mortality rate, retirement age and resignation
pensiun dan tingkat pengunduran diri. Hasil aktual rate. Actual results that differ from the Group’s
yang berbeda dari asumsi yang ditetapkan Grup assumptions are recognised in other
diakui dalam penghasilan komprehensif lain. comprehensive income. While the Group
Sementara Grup berkeyakinan bahwa asumsi believes that its assumptions are reasonable
tersebut adalah wajar dan sesuai, perbedaan and appropriate, significant differences in the
signifikan pada hasil aktual atau perubahan Group's actual results or substantial changes in
signifikan dalam asumsi yang ditetapkan Grup the Group’s assumptions may materially affect
dapat mempengaruhi secara material liabilitas its estimated liabilities for employee benefits and
imbalan kerja dan beban imbalan kerja neto yang net employee benefits expense recognised in
diakui dalam laba rugi dan penghasilan profit or loss and other comprehensive income.
komprehensif lain.
Pertimbangan dalam Penentuan Kebijakan Judgments in Applying the Accounting Policies
Akuntansi
Pertimbangan berikut ini dibuat oleh manajemen The following judgments are made by management
dalam rangka penerapan kebijakan akuntansi Grup in the process of applying the Group’s accounting
yang memiliki pengaruh paling signifikan atas jumlah policies that have the most significant effects on the
yang diakui dalam laporan keuangan konsolidasian: amounts recognised in the consolidated financial
statements:
- Klasifikasi Aset dan Liabilitas Keuangan - Classification of Financial Assets and Financial
Liabilities
Grup menetapkan klasifikasi atas aset dan The Group determines the classifications of
liabilitas tertentu sebagai aset keuangan dan certain assets and liabilities as financial assets
liabilitas keuangan dengan mempertimbangkan and financial liabilities by judging if they meet the
apakah definisi yang ditetapkan PSAK 109 definition outlined in PSAK 109. Accordingly, the
dipenuhi. Dengan demikian, aset keuangan dan financial assets and liabilities are accounted for
liabilitas keuangan diakui sesuai dengan following the Group’s accounting policies
kebijakan akuntansi Grup seperti diungkapkan disclosed in Note 3o.
pada Catatan 3o.
- Penentuan mata uang fungsional - Determination of functional currency
Mata uang fungsional dari masing-masing The functional currency of each Group entity is
entitas Grup adalah mata uang dari lingkungan the currency of the primary economic
ekonomi utama dimana entitas beroperasi. environment in which the entity operates. The
Penentuan mata uang fungsional mungkin determination of the functional currency may
membutuhkan pertimbangan karena beberapa require consideration due to some complexities,
kompleksitas, seperti Grup bertransaksi di lebih such as the Group transacting in more than one
dari satu mata uang dalam kegiatan bisnis currency during its day-to-day business. The
sehari-hari. Mata uang tersebut adalah mata currency is the currency of the primary economic
uang pada lingkungan ekonomi utama di mana environment in which the entity operates.
entitas beroperasi.
Page 598
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/48 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
5. KAS DAN SETARA KAS 5. CASH AND CASH EQUIVALENTS
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Kas pada bank 193.499 155.191 Cash in banks
Deposito jangka pendek 525.000 500.000 Short-term deposits
Jumlah 718.499 655.191 Total
Rincian kas dan setara kas berdasarkan mata uang dan The details of cash and cash equivalents based on currency and
masing-masing bank adalah sebagai berikut: by individual bank are as follows:
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Kas pada bank: Cash in banks:
Rekening rupiah: Rupiah accounts:
PT Bank Mandiri PT Bank Mandiri
(Persero) Tbk (“Bank Mandiri”) 23.241 9.669 (Persero) Tbk (“Bank Mandiri”)
PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia
(Persero) Tbk (“Bank BRI”) 2.148 115 (Persero) Tbk (“Bank BRI”)
PT Bank Negara Indonesia PT Bank Negara Indonesia
(Persero) Tbk (“Bank BNI”) 929 401 (Persero) Tbk (“Bank BNI”)
Subjumlah 26.318 10.185 Subtotal
Rekening dolar AS: US dollar accounts:
Bank Mandiri 144.279 70.939 Bank Mandiri
Bank BRI 22.116 73.276 Bank BRI
Bank BNI 785 54 Bank BNI
Subjumlah 167.180 144.269 Subtotal
Rekening euro: Euro accounts:
Bank BNI 1 737 Bank BNI
Subjumlah 1 737 Subtotal
Jumlah kas pada bank 193.499 155.191 Total cash in banks
Deposito jangka pendek: Short-term bank deposits:
Rekening dolar AS: US dollar accounts:
Bank BJB 275.000 150.000 Bank BJB
Bank Mandiri 250.000 150.000 Bank Mandiri
Bank BTN - 200.000 Bank BTN
Jumlah deposito Total short-term
jangka pendek 525.000 500.000 bank deposits
Total cash and
Jumlah kas dan setara kas 718.499 655.191 cash equivalents
Tingkat bunga per tahun deposito berjangka per Annual interest rates on time deposits per annum are
tahun adalah sebagai berikut: as follows:
31 Desember 31 Desember/
December 31, December 31,
2025 2024
Dolar Amerika Serikat 4,00 – 6,05% 5,71 – 7,15% US dollar
Bank-bank di atas adalah bank milik negara. Dengan The above banks are state-owned banks. As such,
demikian, bank-bank tersebut merupakan entitas they are Government-related entities.
berelasi dengan Pemerintah.
Page 599
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/49 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
6. PIUTANG USAHA DAN PIUTANG LAIN-LAIN 6. TRADE RECEIVABLES AND OTHER
RECEIVABLES
a. Piutang usaha a. Trade receivables
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Dolar Amerika Serikat United States Dollar
Pihak yang berelasi Related parties
(Catatan 26f) 123.354 124.627 (Note 26f)
Penyisihan atas penurunan nilai (597) - Allowance for impairment
Subjumlah 122.757 124.627 Subtotal
Pihak ketiga 3.472 3.498 Third parties
Jumlah 126.229 128.125 Total
Analisis umur piutang usaha adalah sebagai The aging analysis of accounts receivable -
berikut: trade is as follows:
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Belum jatuh tempo 3.472 3.498 Not due
Telah jatuh tempo namun tidak Past due but not
mengalami penurunan nilai: impaired:
Jatuh tempo kurang Less than three
dari tiga bulan 121.298 119.246 months overdue
Jatuh tempo lebih dari More than three
dari tiga bulan kurang months less than
dari dua belas bulan - 3.325 twelve months overdue
Jatuh tempo lebih dari More than
dua belas bulan 2.056 2.056 twelve months overdue
Subjumlah 126.826 128.125 Subtotal
Dikurangi: Less:
Penyisihan atas penurunan nilai (597) - Allowance for impairment
Jumlah 126.229 128.125 Total
Mutasi cadangan kerugian penurunan nilai Movements in the allowance for impairment
adalah sebagai berikut: losses are as follows:
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Saldo awal - - Beginning balance
Penyisihan tahun berjalan (597) - Provisions during the year
Saldo akhir (597) - Ending balance
Page 600
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/50 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
6. PIUTANG USAHA DAN PIUTANG LAIN-LAIN 6. TRADE RECEIVABLES AND OTHER
(lanjutan) RECEIVABLES (continued)
a. Piutang usaha (lanjutan) a. Trade receivables (continued)
Piutang usaha pihak berelasi dalam mata uang Trade receivables from related parties
dolar AS merupakan piutang dari operasi sendiri denominated in US dollars represent
dan transaksi pass-through antara Grup dan receivables from the Group’s own operations
kontraktor KOB. Pada tanggal 31 Desember and pass through transactions between the
2025 dan 2024, jumlah piutang operasi sendiri Group and KOB contractors. As of December
masing-masing sebesar US$61.796 dan 31, 2025 and 2024, the amounts of receivables
US$57.534 dan piutang dari transaksi pass- from the Group’s own operations were
through masing-masing sebesar US$61.559 dan US$61,796 and US$57,534, respectively, and
US$67.093 (Catatan 3j). receivables from pass through transactions
were US$61,559 and US$67,093, respectively
(Note 3j).
Manajemen berpendapat bahwa cadangan Management believes that the above
penurunan nilai tersebut diatas cukup untuk impairment allowance is sufficient to cover the
menutup kemungkinan atas tidak tertagihnya possibility of uncollectible trade receivables.
piutang usaha.
b. Piutang lain-lain b. Other receivables
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Pihak yang berelasi (Catatan 26g) 11.985 11.570 Related parties (Note 26g)
Pihak ketiga 137 98 Third parties
Jumlah 12.122 11.668 Total
Bagian lancar 5.188 4.139 Current portion
Bagian tidak lancar 6.934 7.529 Non-current portion
Pada tanggal 31 Desember 2025 dan 2024, On December 31, 2025 and 2024, the current
piutang lain-lain pihak - berelasi bagian lancar portion of other receivables - related parties
merupakan piutang atas penggantian bonus represents a receivable arising from production
produksi dari DJA, piutang dividen dari PHE dan bonus reimbursement from DJA, dividend
piutang penjualan kredit karbon dari PPI. receivables from PHE, and carbon credit sales
from PPI.
Piutang lain-lain pihak - berelasi tidak lancar The other receivable-related party non-current
merupakan piutang atas penyerahan unit portion represents receivables arising from
transmisi kepada PLN sesuai PJBL untuk the transfer of transmission units to PLN under
Lahendong Unit 5 dan 6 dan Karaha yang the Lahendong Unit 5 and 6 and Karaha ESCs,
penyelesaiannya menggunakan porsi tertentu which settlement will be received as part of
dari harga penjualan selama jangka waktu future revenue during the sales contract.
perjanjian.
Manajemen berkeyakinan bahwa seluruh Management believes other receivables are
piutang lain-lain dapat ditagihkan, sehingga fully collectable; hence, no impairment
tidak diperlukan penyisihan penurunan nilai. provision is required.
Page 601
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/51 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
7. PERSEDIAAN, BERSIH 7. INVENTORIES, NET
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Material pemboran 18.295 9.242 Drilling materials
Suku cadang 7.558 7.309 Spare parts
Pipa 3.986 3.937 Pipes
Pelumas dan bahan kimia 59 60 Lubricants and chemicals
Dikurangi: Less:
Penyisihan penurunan nilai (1.928) (2.062) Allowance for decline in value
Jumlah 27.970 18.486 Total
Mutasi penyisihan atas penurunan nilai selama Changes in the balance of allowance for decline in
periode pelaporan adalah sebagai berikut: value on the reporting period were as follows:
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Saldo awal (2.062) (409) Beginning balance
Cadangan kerugian penurunan Provision for inventory
nilai persediaan - (1.653) impairment losses
Pemulihan penurunan nilai 134 - Recovery for decline in value
Jumlah (1.928) (2.062) Total
Pemulihan penyisihan penurunan nilai tersebut The reversal of the impairment allowance mentioned
diatas diakui karena digunakannya persediaan suku above is recognized because the spare-part
cadang untuk pemboran. inventories were used for drilling.
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, inventories are
persediaan tidak diasuransikan atas risiko not insured against fire, theft, and other potential
kebakaran, pencurian, dan risiko lain yang mungkin risks, as management believes these risks do not
terjadi, karena manajemen beranggapan bahwa pose a significant threat to the business.
risiko tersebut tidak berdampak signifikan pada
bisnis.
Berdasarkan hasil pengkajian ulang keadaan fisik Based on an assessment of the status of physical
persediaan pada tanggal 31 Desember 2025 dan inventories as of December 31, 2025 and 2024,
2024, manajemen berkeyakinan bahwa jumlah management believes that the allowance for the
penyisihan penurunan nilai telah mencukupi untuk decline in value is adequate to cover the allowance
menutup penurunan nilai persediaan usang, tidak for obsolete, unusable, and slow-moving materials.
terpakai dan lambat pergerakannya.
8. BIAYA DIBAYAR DI MUKA 8. PREPAYMENTS
Biaya dibayar dimuka terutama terdiri biaya sewa Prepayments mainly consist of prepaid rent,
dibayar dimuka, asuransi dan uang muka perjalanan insurance, and travel advances.
dinas.
Page 602
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/52 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
9. ASET TETAP, BERSIH 9. FIXED ASSETS, NET
31 Desember/December 31, 2025
Saldo awal/ Saldo akhir/
Beginning Penambahan/ Pengurangan/ Reklasifikasi/ Ending
balance Additions Deduction Reclassification balance
Harga perolehan: Acquisition costs:
Tanah dan hak atas tanah 19.220 - - 3.101 22.321 Land and land rights
Sumur panas bumi 1.112.038 - - 158.757 1.270.795 Geothermal wells
Instalasi 779.678 - - 180.172 959.850 Installations
Bangunan 192.048 - - 80.793 272.841 Buildings
Harta benda bergerak 32.353 - - 2.730 35.083 Moveable assets
Subjumlah 2.135.337 - - 425.553 2.560.890 Subtotal
Aset dalam pembangunan: Assets under construction:
Aset eksplorasi 169.286 152 - - 169.438 Exploration assets
Aset pengembangan 780.654 101.630 - (425.553) 456.731 Development assets
Subjumlah 949.940 101.782 - (425.553) 626.169 Subtotal
Jumlah harga perolehan 3.085.277 101.782 - - 3.187.059 Total acquisition costs
Akumulasi penyusutan: Accumulated depreciation:
Sumur panas bumi (430.239) (55.776) - - (486.015) Geothermal wells
Instalasi (410.100) (53.339) - - (463.439) Installations
Bangunan (81.303) (15.273) - - (96.576) Buildings
Harta benda bergerak (26.441) (1.852) - - (28.293) Moveable assets
Jumlah akumulasi Total accumulated
penyusutan (948.083) (126.240) - - (1.074.323) depreciation
Penyisihan penurunan nilai (112.587) - - - (112.587) Provision for impairment
Nilai buku bersih 2.024.607 2.000.149 Net book value
31 Desember/December 31, 2024
Saldo awal/ Saldo akhir/
Beginning Penambahan/ Pengurangan/ Reklasifikasi/ Ending
balance Additions Deduction Reclassification balance
Harga perolehan: Acquisition costs:
Tanah dan hak atas tanah 18.226 - - 994 19.220 Land and land rights
Sumur panas bumi 1.038.098 - - 73.940 1.112.038 Geothermal wells
Instalasi 756.041 - - 23.637 779.678 Installations
Bangunan 182.321 - - 9.727 192.048 Buildings
Harta benda bergerak 29.444 - - 2.909 32.353 Moveable assets
Subjumlah 2.024.130 - - 111.207 2.135.337 Subtotal
Aset dalam pembangunan: Assets under construction:
Aset eksplorasi 168.729 557 - - 169.286 Exploration assets
Aset pengembangan 697.006 194.855 - (111.207) 780.654 Development assets
Subjumlah 865.735 195.412 - (111.207) 949.940 Subtotal
Jumlah harga perolehan 2.889.865 195.412 - - 3.085.277 Total acquisition costs
Akumulasi penyusutan: Accumulated depreciation:
Sumur panas bumi (379.732) (50.507) - - (430.239) Geothermal wells
Instalasi (363.897) (46.203) - - (410.100) Installations
Bangunan (68.756) (12.547) - - (81.303) Buildings
Harta benda bergerak (23.884) (2.557) - - (26.441) Moveable assets
Jumlah akumulasi Total accumulated
penyusutan (836.269) (111.814) - - (948.083) depreciation
Penyisihan penurunan nilai (112.587) - - - (112.587) Provision for impairment
Nilai buku bersih 1.941.009 2.024.607 Net book value
Page 603
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/53 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
9. ASET TETAP (lanjutan) 9. FIXED ASSETS (continued)
Pada tanggal 31 Desember 2025 dan 2024, seluruh As of December 31, 2025 and 2024, fixed assets are
aset tetap dikategorikan sebagai aset panas bumi categorised as geothermal assets used to support
yang digunakan untuk menunjang kegiatan the Group's operational activities.
operasional Grup.
Pada tanggal 31 Desember 2025 aset tetap dalam As of December 31, 2025 asset under construction,
pembangunan meliputi proyek eksplorasi panas consists of the Bukit Daun, Sungai Penuh,
bumi di wilayah kerja Bukit Daun, Sungai Penuh, Lahendong Unit 7&8 and Gunung Tiga exploration
Lahendong Unit 7&8, proyek eksplorasi Gunung Tiga projects and the following geothermal development
serta proyek-proyek pengembangan panas bumi projects:
sebagai berikut:
1. Lumut Balai Unit 3 dan 4; dan 1. Lumut Balai Units 3 and 4; and
2. Hululais Unit 1 dan 2. 2. Hululais Units 1 and 2.
Sampai dengan tanggal 31 Desember 2025, proyek As of December 31, 2025, the Lumut Balai 2 project
Lumut Balai 2 sudah dapat beroperasi secara penuh have been fully operated with the issuance of the
dengan telah diterbitkannya Sertifikat Laik Operasi Operational Eligibility Letter (SLO) on June 29, 2025,
(“SLO”) pada tanggal 29 Juni 2025 dengan kapasitas with a capacity of 55 MW.
55 MW.
Sampai dengan tanggal 31 Desember 2025, status As of December 31, 2025, the Hululais Unit 1&2
proyek Hululais Unit 1&2 sebesar 87,85% dengan development project is 87.85%. The estimated
estimasi tanggal operasi komersial proyek pada commercial operation dates is 2028. The asset under
tahun 2028. Aset tetap dalam pembangunan proyek construction of the Lumut Balai Units 3 and 4 projects
pengembangan Lumut Balai 3 dan 4 diintensikan is intended to support the Lumut Balai Unit 2
untuk digunakan dalam menunjang operasional operation.
Lumut Balai Unit 2.
Proyek Bukit Daun, Sungai Penuh dan Lahendong Bukit Daun, Sungai Penuh and Lahendong Unit 7&8
Unit 7&8 merupakan proyek dalam tahap eksplorasi. projects are exploration projects. Estimated
Estimasi penyelesaian akan dievaluasi kembali completion will be promptly reevaluated based on the
secara berkala sesuai dengan kondisi aktualnya. actual conditions. Asset under construction status as
Status aset tetap dalam pembangunan pada tanggal of December 31, 2025, for Bukit Daun and Sungai
31 Desember 2025 untuk proyek eksplorasi Bukit Penuh exploration projects are in the process of
Daun dan Sungai Penuh adalah dalam proses kajian development study, meanwhile Lahendong Unit 7&8
pengembangan, sementara proyek eksplorasi exploration project is on reservoir simulation
Lahendong Unit 7 dan 8 berada pada tahap completion phase, with estimation of the commercial
penyelesaian simulasi reservoar, dengan estimasi operation dates in the years 2030, 2029 and 2027,
tanggal operasi komersial proyek masing-masing respectively,
pada 2030, 2029 and 2027.
Bunga yang dikapitalisasi sebagai bagian dari aset Interest capitalised as part of fixed assets amounted
tetap masing-masing sebesar US$1.864 dan to US$1,864 and US$3,495 as of December 31,
US$3.495, pada 31 Desember 2025 dan 2024. Biaya 2025, and 2024, respectively. Borrowing costs were
pinjaman dikapitalisasi pada tingkat bunga rata-rata capitalised at the weighted average rate of its
tertimbang dari pinjaman masing-masing sebesar borrowings of 1.35% and 3.41% on December 31,
1,35% dan 3,41% pada 31 Desember 2025 dan 2025, and 2024, respectively.
2024.
Sampai dengan 31 Desember 2025, Grup As of December 31, 2025, Group has temporarily
menghentikan sementara kapitalisasi bunga suspended the capitalization of interest for the
pinjaman pada proyek Hululais Unit 1&2 sehubungan Hululais Units 1 and 2 project temporarily, due to the
dengan telah selesainya tahapan pengeboran sumur completion of the well drilling phase to ensure the
untuk memastikan ketersediaan uap sesuai kontrak. availability of steam following the contract. The
Grup akan kembali melakukan kapitalisasi bunga Group will resume the capitalisation of interest during
pinjaman pada saat kegiatan substantif tahap the next substantive phase, namely, the construction
selanjutnya, yaitu pembangunan sarana produksi of geothermal steam production facilities begins.
uap panas bumi dimulai.
Page 604
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/54 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
9. ASET TETAP (lanjutan) 9. FIXED ASSETS (continued)
Grup memiliki beberapa bidang tanah dengan status The Group owned several lands with Building Right
Sertifikat Hak Guna Bangunan (“HGB”) atas nama Titles (“HGB”) status, which are registered under the
Perusahaan. Manajemen Grup berpendapat bahwa Company’s name. The Group’s management
hak atas tanah dapat diperpanjang pada saat jatuh believes that the term of the land rights can be
tempo. Sampai dengan laporan keuangan ini extended upon expiration. Until this financial report
diterbitkan, manajemen masih dalam proses was published, management was still in the process
peningkatan status kepemilikan dari HGB menjadi of upgrading the ownership status from HGB to a
sertifikat. certificate.
Pada tanggal laporan keuangan ini, manajemen At the date of these consolidated financial
sedang dalam proses mengalihkan US$793 hak atas statements, management is in the process of
tanah Pertamina menjadi atas nama Grup sekaligus converting US$793 of Pertamina’s land rights into the
memperpanjang hak atas tanah menjadi 30 tahun Group’s name and simultaneously extending the
sesuai dengan Peraturan Pemerintah Nomor 18 term of the land rights to 30 years by Government
Tahun 2021. Regulation 18 of 2021.
Pada tanggal 31 Desember 2025 dan 2024 terdapat As of December 31, 2025 and 2024, there are fixed
aset tetap yang tidak dipakai sementara sebesar assets which were temporarily not in use amounted
US$42. to US$42.
Grup memiliki aset tetap yang telah disusutkan The Group has fully depreciated fixed assets that are
penuh dan masih digunakan masing-masing sebesar still used, amounting to US$104,951 and
US$104.951 dan US$102.507 pada 31 Desember US$102,507 as of December 31, 2025 and 2024,
2025 dan 2024. respectively.
Kebijakan asuransi atas aset tetap terpusat di Insurance for fixed assets is arranged under
Pertamina. Pada tanggal 31 Desember 2025, aset Pertamina’s insurance policies. As of December 31,
tetap telah diasuransikan terhadap risiko kebakaran, 2025, fixed assets are insured against fire, theft, and
pencurian, dan risiko lain yang mungkin terjadi other risks with PT Tugu Pratama Indonesia, with
kepada PT Tugu Pratama Indonesia dengan nilai coverage of US$841,899 and US$841,335 as of
pertanggungan masing-masing sebesar December 31, 2025 and 2024, respectively.
US$841.899 dan US$841.335 pada 31 Desember
2025 dan 2024.
Berdasarkan pengujian penurunan nilai, tidak Based on the impairment assessment, there was no
terdapat penurunan nilai pada tanggal 31 Desember impairment as of December 31, 2025 and 2024.
2025 dan 2024.
Pada tanggal 31 Desember 2025 dan 2024, tidak As of December 31, 2025 and 2024, no fixed assets
terdapat aset tetap yang digunakan sebagai jaminan. were used as collateral.
Page 605
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/55 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
10. SEWA 10. LEASE
Mutasi aset hak guna adalah sebagai berikut: The movements in right of use assets are as follows:
31 Desember/December 31, 2025
Saldo awal/ Saldo akhir/
Beginning Penambahan/ Pengurangan/ Ending
Balance Additions Deductions balance
Biaya perolehan Cost
Kendaraan 2.317 1.139 (601) 2.855 Vehicles
Gedung 3.204 - (319) 2.885 Building
Subjumlah 5.521 1.139 (920) 5.740 Subtotal
Akumulasi penyusutan Accumulated depreciation
Kendaraan (1.226) (772) 601 (1.397) Vehicles
Gedung (80) (961) 319 (722) Building
Subjumlah (1.306) (1.733) 920 (2.119) Subtotal
Nilai buku bersih 4.215 3.621 Net book value
31 Desember/December 31, 2024
Saldo awal/ Saldo akhir/
Beginning Penambahan/ Pengurangan/ Ending
Balance Additions Deductions balance
Biaya perolehan Cost
Kendaraan 1.577 789 (49) 2.317 Vehicles
Gedung 4.600 3.204 (4.600) 3.204 Building
Subjumlah 6.177 3.993 (4.649) 5.521 Subtotal
Akumulasi penyusutan Accumulated depreciation
Kendaraan (402) (873) 49 (1.226) Vehicles
Gedung (3.848) (832) 4.600 (80) Building
Subjumlah (4.250) (1.705) 4.649 (1.306) Subtotal
Nilai buku bersih 1.927 4.215 Net book value
Liabilitas sewa terdiri dari: Lease liabilities consist of:
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Bagian jatuh tempo 1.712 1.402 Current maturities
Bagian setelah dikurangi jatuh tempo 1.735 2.549 Net-off current maturities
Jumlah 3.447 3.951 Total
Jumlah yang diakui dalam laporan laba rugi dan Amounts recognized in the consolidated statement of
penghasilan komprehensif lain konsolidasian: profit or loss and other comprehensive income:
31 Desember/ 31 Desember/
December 31, Desember 31,
2025 2024
Beban terkait liabilitas sewa
dengan nilai rendah atau Expense related to low value
jangka pendek (Catatan 21 dan 22) 3.900 3.372 short-term leases (Notes 21 and 22)
Beban penyusutan aset hak guna 1.733 1.519 Depreciation on right of use asset
Bunga atas liabilitas sewa Interest on lease liabilities
(Catatan 23) 226 98 (Note 23)
Jumlah 5.859 4.989 Total
Page 606
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/56 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
10. SEWA (lanjutan) 10. LEASE (continued)
Laporan arus kas konsolidasian menyajikan nilai The consolidated statements of cash flows show the
pembayaran berikut berkaitan dengan sewa: following payments amounts related to leases:
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Saldo awal 3.951 2.023 Beginning balance
Penambahan 1.041 3.873 Additions
Beban bunga 226 98 Interest expense
Pembayaran (1.641) (1.922) Payments
Selisih kurs (130) (121) Foreign exchange
Saldo akhir 3.447 3.951 Ending balance
11. INVESTASI PADA VENTURA BERSAMA 11. INVESTMENT IN JOINT VENTURE
Pada tanggal 31 Desember 2025, Grup memiliki As of December 31, 2025, the Group has joint
ventura bersama sebagai berikut: ventures as follows:
Persentase Metode
Tempat kepemilikan/ pengukuran/
Nama entitas/ kedudukan/ Percentage Measurement
Name of entity domicile of ownership Sifat hubungan / Nature of relationship method
PT Cahaya Jakarta 40% Joint venture pengusahaan tenaga panas bumi/ Ekuitas/
Anagata Energy Joint venture in operates geothermal energy business Equity
Berikut ini merupakan ringkasan informasi keuangan Set out below is the summarised financial information
dari ventura bersama yang dicatat dengan of the joint ventures PT Cahaya Anagata Energy
menggunakan metode ekuitas. which are accounted for using the equity method.
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Ringkasan laporan Summarised statement
posisi keuangan of financial position
Kas dan setara kas 444 462 Cash and cash equivalents
Aset lancar lainnya 2.025 6 Other current assets
Aset tidak lancar lainnya 27.960 29.908 Other non-current assets
Liabilitas keuangan jangka pendek (96) (140) Short-term financial liabilities
Liabilitas jangka pendek lainnya (1) (4) Other short-term liabilities
Aset bersih 30.332 30.232 Net asset
Ringkasan laporan Summarised statement
penghasilan komprehensif of comprehensive income
Pendapatan - - Revenue
Beban pokok pendapatan (863) (115) Cost of revenue
Beban administrasi umum (1) General administrative expenses
Beban lain-lain (41) (61) Other expenses
Pendapatan keuangan 993 1.309 Finance income
Rugi selisih kurs 12 (1) Foreign exchange loss
Laba sebelum pajak penghasilan 100 1.132 Profit before income tax
Beban pajak penghasilan - - Income tax expense
Laba tahun berjalan 100 1.132 Profit for the year
Page 607
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/57 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
11. INVESTASI PADA VENTURA BERSAMA (lanjutan) 11. INVESTMENT IN JOINT VENTURE (continued)
Rekonsiliasi dari ringkasan informasi keuangan yang Reconciliation of the summarised financial
disajikan terhadap nilai buku dari kepentingan Grup information presented to the carrying amount of the
dalam ventura bersama adalah sebagai berikut: Group’s interest in the joint venture is as follows:
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Ringkasan informasi keuangan Summarised financial information
Pada awal tahun 30.232 29.100 At the beginning of the year
Penambahan - - Addition
Laba tahun berjalan 100 1.132 Profit for the period
Pada akhir tahun 30.332 30.232 At the end of the year
Kepemilikan ventura bersama @40% 12.133 12.093 Interest in joint venture @40%
Nilai buku 12.133 12.093 Carrying value
Investasi pada ventura Bersama Investment in joint venture
Pada awal tahun 12.093 11.640 At the beginning of the year
Penambahan - - Addition
Bagian laba diserap tahun berjalan 40 453 Share profit for the year
Nilai buku 12.133 12.093 Carrying value
12. ASET KEUANGAN LAINNYA 12. OTHER FINANCIAL ASSETS
Rincian aset keuangan lain yang dimiliki oleh Grup Details of other financial assets owned by the Group
adalah sebagai berikut: are as follows:
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Aset keuangan yang dinilai Financial asset at
pada nilai wajar melalui fair value through other
pendapatan komprehensif lain 29.764 21.716 comprehensive income
Jumlah 29.764 21.716 Total
Aset keuangan yang dinilai pada nilai wajar melalui Financial assets measured at fair value through other
pendapatan komprehensif lain merupakan investasi comprehensive income represent equity instrument
instrumen ekuitas pada Grup Pertamina yang tidak investments in the Pertamina Group that are not
diperdagangkan. Pada pengakuan awal, Grup traded. Upon initial recognition, the Group voluntarily
memilih secara sukarela untuk mengakui investasi elected to designate these investments at fair value
tersebut pada nilai wajar melalui pendapatan through other comprehensive income.
komprehensif lain.
Pada tahun 2025 dan 2024, Grup memperoleh In 2025 and 2024, the Group received dividends
dividen masing-masing sebesar US$1.829 dan amounting to US$1,829 and US$1,994, respectively.
US$1.994.
Page 608
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/58 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
12. ASET KEUANGAN LAINNYA (lanjutan) 12. OTHER FINANCIAL ASSETS (continued)
Berikut merupakan perubahan saldo nilai wajar Following is the change in fair value of investment
investasi pada tahun berjalan: during the year:
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Saldo awal 21.716 29.004 Beginning balance
Perubahan nilai wajar tahun Change in fair value for the
berjalan 8.048 (7.288) year
Jumlah 29.764 21.716 Total
13. UTANG USAHA 13. TRADE PAYABLES
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Rupiah Rupiah
Pihak yang berelasi (Catatan 26h) 1.447 2.216 Related parties (Note 26h)
Pihak ketiga 3.724 9.621 Third parties
Subjumlah 5.171 11.837 Subtotal
Dolar Amerika Serikat United States dollar
Pihak yang berelasi (Catatan 26h) 721 18 Related parties (Note 26h)
Pihak ketiga 82.567 78.756 Third parties
Subjumlah 83.288 78.774 Subtotal
Euro Eropa European euro
Pihak ketiga 59 201 Third parties
Subjumlah 59 201 Subtotal
Yen Jepang Japanese yen
Pihak ketiga 12 5.983 Third parties
Subjumlah 12 5.983 Subtotal
Jumlah 88.530 96.795 Total
Mayoritas utang usaha kepada pihak ketiga dalam The majority of trade payables to third parties in
mata uang dolar AS terdiri atas utang kepada Star currency US dollar involve payables to Star Energy
Energy Geothermal Darajat II Ltd., Star Energy Salak Geothermal Darajat II Ltd., Star Energy Geothermal
Pratama Ltd., dan Star Energy Geothermal Salak Salak Pratama Ltd., and Star Energy Geothermal
Ltd., yang timbul dari transaksi pass-through antara Salak Ltd., as a result of pass-through transactions
Grup dan Kontraktor KOB tersebut (Catatan 3j). between the Group and those JOC contractors
Pada tanggal 31 Desember 2025 dan 2024, jumlah (Note 3j). As of December 31, 2025 and 2024, the
yang belum dibayarkan atas utang transaksi pass- outstanding pass-through transaction payables were
through tersebut adalah masing-masing sebesar US$72.482 and US$67,093, respectively (Notes 6a).
US$72.482 dan US$67.093 (Catatan 6a).
14. LIABILITAS KONTRAK FORWARD 14. FORWARD CONTRACT LIABILITY
Liabilitas kontrak forward merupakan posisi utang Forward contract liability represent the liability
lindung nilai forward non-deliverable kontrak dengan position arising from non-deliverable forward
Bank Maybank dan SMBC yang akan jatuh tempo hedging contracts with Bank Maybank and SMBC,
pada tanggal 6 Januari 2026. which will mature on January 6, 2026.
Page 609
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/59 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
14. LIABILITAS KONTRAK FORWARD (lanjutan) 14. FORWARD CONTRACT LIABILITY (continued)
Perusahaan tidak menetapkan kontrak forward ini The Company did not designate these forward
sebagai instrumen lindung nilai dalam hubungan contracts as hedging instruments in a hedge
akuntansi lindung nilai. Oleh karena itu, seluruh accounting relationship. Accordingly, all changes in
perubahan nilai wajar instrumen derivatif diakui the fair value of the derivative instruments are
langsung dalam laba rugi periode berjalan recognized directly in profit or loss for the current
period
15. BIAYA YANG MASIH HARUS DIBAYAR 15. ACCRUED EXPENSES
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Kontrak barang dan jasa Material and service contracts
- Pihak yang berelasi (Catatan 26k) 2.898 5.157 Related parties (Note 26k) -
- Pihak ketiga 53.682 71.054 Third parties -
Lain-lain 9.573 11.842 Others
Jumlah 66.153 88.053 Total
16. UTANG OBLIGASI 16. BONDS PAYABLE
Pada tanggal 27 April 2023, Perusahaan On April 27, 2023, the Company issued green bonds
menerbitkan surat utang berwawasan lingkungan with a nominal value of US$400,000,000 (full
dengan nilai nominal sebesar US$400.000.000 (nilai amount) as follows:
penuh) sebagai berikut:
Nilai nominal penuh/ Tingkat bunga tetap per tahun/ Jatuh tempo/
Obligasi/Bonds Nominal full amount Interest rate per annum Due date
Senior Unsecured Fixed Rate Notes US$400.000.000 5,15% 27 April 2028
Pada tanggal 31 Desember 2025, Grup mencatat On December 31, 2025, the Group recorded the
nilai obligasi sebagai berikut: bond carrying amount as follows:
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Nilai nominal 400.000 400.000 Nominal value
Dikurangi: Less:
Diskonto dan beban transaksi Discounts and deferred
yang ditangguhkan dikurangi transaction costs - net of
akumulasi amortisasi (950) (1.357) accumulated amortization
Nilai tercatat obligasi 399.050 398.643 Bonds carrying value
Surat utang berwawasan lingkungan tersebut The green bonds were listed on the Singapore
terdaftar di Singapore Exchange Securities Trading Exchange Securities Trading and offered at 100% of
dan ditawarkan dengan nilai 100% dari jumlah pokok the principal amount. Bonds' interest is paid
obligasi. Bunga obligasi dibayarkan setiap semester, semi-annually, with the first interest payment made
dengan pembayaran bunga pertama dilakukan pada on October 27, 2023, and the last interest payment
tanggal 27 Oktober 2023, sedangkan pembayaran and maturity on April 27, 2028, which is also the
bunga terakhir sekaligus jatuh tempo obligasi adalah principal repayment date of the bonds. The interest
pada tanggal 27 April 2028 yang juga merupakan expense on this bonds is presented in the
tanggal pelunasan pokok dari obligasi. Beban bunga consolidated statement of profit or loss and other
surat utang ini disajikan di laporan laba rugi dan comprehensive income as part of “Finance Costs”.
penghasilan komprehensif lain konsolidasian The proceeds from the issuance of the bonds were
sebagai bagian dari “Beban Keuangan”. Hasil used to repay the Bridge Loan facility fully.
penerbitan surat utang tersebut digunakan untuk
melunasi sepenuhnya fasilitas Bridge Loan.
Page 610
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/60 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
17. PENYISIHAN IMBALAN KERJA KARYAWAN 17. PROVISION FOR EMPLOYEE BENEFITS
Alokasi Kewajiban dari Pertamina untuk Liability Allocation from Pertamina for Secondee
Karyawan Secondee Pertamina: Employees of Pertamina:
Sesuai dengan kebijakan Pertamina, setiap anak Based on Pertamina's policy, every subsidiary
perusahaan (termasuk Perusahaan) harus mengakui (including the Company) should recognise several
sejumlah alokasi kewajiban terkait imbalan-imbalan liability allocations concerning the benefits provided
yang diberikan oleh Pertamina kepada karyawan by Pertamina to the Secondee Pertamina employees
Secondee Pertamina yang diperbantukan di anak who are seconded at the subsidiary's companies.
perusahaan.
Hal ini merupakan pengaturan pembagian kewajiban This a liability sharing arrangement between
antara Pertamina dan anak perusahaan terkait Pertamina and the subsidiaries companies
periode (atau masa kerja) perbantuan karyawan di concerning the seconded period (or services) of the
anak perusahaan: employees at the subsidiaries:
- Dana Pensiun Pertamina (“DPP”). - Dana Pensiun Pertamina (“the DPP”).
- Penghargaan Atas Pengabdian (“PAP”). - Penghargaan Atas Pengabdian (“the PAP”).
- Kesehatan Pasca Pensiun (“Pensioner - Post-retirement Healthcare (“the Pensioner
Healthcare”). Healthcare).
- Biaya Pemulangan (“Repatriasi”). - Biaya Pemulangan (“the Repatriasi”).
- Masa Persiapan Purna Karya (“MPPK”). - Masa Persiapan Purna Karya (“the MPPK”).
- Ulang Tahun Dinas (“UTD”). - Ulang Tahun Dinas (“the UTD”).
Imbalan kerja karyawan yang dimiliki oleh Grup terdiri The Group’s employee benefits consist of short-term
dari imbalan kerja jangka pendek dan imbalan kerja and long-term employee benefits.
jangka panjang.
a. Imbalan kerja jangka pendek a. Short-term employee benefits
Imbalan kerja jangka pendek Grup terdiri dari Short-term employee benefits of the Group
gaji, iuran dana pensiun, jaminan sosial tenaga consist of salaries, contributions for pension
kerja dan imbalan kerja karyawan lainnya. funds, employee social security and other
Imbalan kerja berupa insentif karyawan disajikan employee benefits. Employee benefits in the
sebagai berikut: form of employee incentives are presented as
follows:
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Insentif karyawan 15.717 9.694 Employee incentives
Jumlah 15.717 9.694 Total
b. Imbalan kerja jangka panjang b. Long-term employee benefits
Imbalan kerja jangka panjang Grup diberikan The Group's long-term employee benefits are
kepada karyawan direct hire dan secondee provided to direct-hire employees and
Pertamina. Karyawan direct hire merupakan secondee of Pertamina. Direct-hire employees
seluruh karyawan permanen yang direkrut are all permanent employees who the Company
secara langsung oleh Perusahaan. Karyawan directly hires. Secondee employees of
secondee Pertamina terdiri dari karyawan Pertamina are permanent employees who are
permanen yang ditempatkan/diperbantukan di placed/seconded at the Company by
Perusahaan oleh Pertamina. Pertamina.
Page 611
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/61 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
17. PENYISIHAN IMBALAN KERJA KARYAWAN 17. PROVISION FOR EMPLOYEE BENEFITS
(lanjutan) (continued)
b. Imbalan kerja jangka panjang (lanjutan) b. Long-term employee benefits (continued)
Liabilitas imbalan kerja jangka panjang yang Long-term employee benefits liability
diakui dalam laporan posisi keuangan recognised in the consolidated statement of
konsolidasian adalah sebagai berikut: financial position is as follows:
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Penyisihan imbalan Provision for
kerja karyawan employee benefits
Imbalan pasca kerja Post employment benefits
- Karyawan direct hire 6.552 4.343 Direct hire employee -
- Karyawan secondee 3.711 4.109 Secondee employee -
Imbalan kerja jangka- Other long-term
panjang lainnya employee benefits
- Karyawan direct hire 1.125 567 Direct hire employee -
Saldo akhir 11.388 9.019 Ending balance
Imbalan pascakerja merupakan imbalan yang Post-employment benefits represent benefits
diberikan langsung oleh Grup kepada para provided directly by the Group to the employees,
karyawan, yang mencakup DPP, PAP, including the DPP, the PAP, the Pensioners
Pensioners Healthcare, Repatriasi, MPPK, dan Healthcare, the Repatriation, the MPPK, and the
UTD. UTD.
Perusahaan mencatat karyawan pada tanggal The Company recorded the liability for employee
31 Desember 2025 dan 2024 berdasarkan benefits as of December 31, 2025 and 2024,
perhitungan yang dilakukan oleh Steven & based on calculations performed by Steven &
Mouritz, aktuaris independen, dalam laporannya Mouritz, an independent actuary, in its reports,
No. 0894/MR-DA-PSAK219-PGE/II/2026, respectively, No. 0894/MR-DA-PSAK219-
tanggal 27 Februari 2026, dengan PGE/II/2026, dated February 27, 2026, using the
menggunakan metode projected unit credit. projected unit credit method.
Asumsi-asumsi penting yang digunakan oleh The significant assumptions used by the actuary
aktuaris dalam laporannya adalah sebagai in its reports are as follows:
berikut:
Tingkat diskonto : 6,45% pada tahun 2025/in 2025 : Discount rate
Tingkat kenaikan gaji : 8,00% pada tahun 2025/in 2025 : Salary increase rate
Tingkat inflasi emas : 8,00% pada tahun 2025/in 2025 : Gold inflation rate
Harga emas (Rp/gr) : 1.457.480 pada tahun 2025/in 2025 : Gold price (Rp/gr)
Tingkat kematian : Tabel Mortalita Indonesia IV (2019) : Mortality rate
pada tahun 2025/in 2025
Usia pensiun : 56 tahun/56 years old : Retirement age
Tingkat pengunduran diri : 1% untuk karyawan yang berusia di bawah : Resignation rate
25 tahun dan akan menurun sampai 0%
pada usia 56 tahun/ 1% for employees
younger than 20 years-old which will
decrease to 0% at the age of 56 years old
Tingkat kecacatan : 0,75% x TMI IV pada tahun 2025/in 2025 : Disability rate
Tingkat pensiun : 100% di usia 56/100% at age of 56 : Retirement rate
Page 612
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/62 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
17. PENYISIHAN IMBALAN KERJA KARYAWAN 17. PROVISION FOR EMPLOYEE BENEFITS
(lanjutan) (continued)
b. Imbalan kerja jangka panjang (lanjutan) b. Long-term employee benefits (continued)
Tidak ada perbedaan asumsi yang digunakan There is no difference in the assumptions used
antara imbalan kerja untuk karyawan direct hire for employee benefits for direct hire and
dan secondee Pertamina. secondee Pertamina employees.
1. Imbalan pasca kerja 1. Post-employment benefits
Jumlah yang diakui dalam laporan posisi Amounts recognised in the consolidated
keuangan konsolidasian adalah sebagai statements of financial position are as
berikut: follows:
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Nilai kini kewajiban 21.883 17.937 Present value of obligation
Nilai wajar aset program (11.620) (9.485) Fair value of plan assets
Jumlah 10.263 8.452 Total
Mutasi nilai kini kewajiban adalah sebagai The movements in present value of
berikut: obligation are as follows:
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Saldo awal 17.937 18.358 Beginning balance
Diakui pada laba rugi 2.190 2.866 Recognized in profit or loss
Diakui pada laba Recognized in other
komprehensif lain 2.689 (2.471) comprehensive income
Pembayaran imbalan
kerja (321) - Benefit payments
Dampak perubahan kurs
mata uang asing (612) (816) Foreign exchange differential
Saldo akhir 21.883 17.937 Ending balance
Mutasi nilai wajar aset program adalah The movements in fair value of plan assets
sebagai berikut: are as follows:
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Saldo awal 9.485 5.288 Beginning balance
Iuran perusahaan 1.944 4.023 Company contribution
Pendapatan bunga 716 409 Interest income
Imbal hasil (93) 1 Return on plan assets
Pembayaran imbalan Benefit payaments
dari aset program (112) - from asset program
Dampak perubahan kurs
mata uang asing (320) (236) Foreign exchange differential
Saldo akhir 11.620 9.485 Ending balance
Page 613
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/63 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
17. PENYISIHAN IMBALAN KERJA KARYAWAN 17. PROVISION FOR EMPLOYEE BENEFITS
(lanjutan) (continued)
b. Imbalan kerja jangka panjang (lanjutan) b. Long-term employee benefits (continued)
1. Imbalan pascakerja (lanjutan) 1. Post-employment benefits (continued)
Rincian aset program adalah sebagai The details of plan assets are as follows:
berikut:
31 Desember / 31 Desember/
December 31, 2025 December 31, 2024
Nilai wajar/ Nilai wajar/
Fair value % Fair value %
Kas dan setara kas 581 5 474 5 Cash and cash equivalent
Instrumen saham 3.486 30 2.846 30 Equity instruments
Instrumen utang 4.648 40 3.794 40 Debt instruments
Investment funds 2.905 25 2.371 25 Investment funds
Jumlah 11.620 100 9.485 100 Total
Jumlah yang diakui dalam beban pokok Amounts recognised in cost of revenues and
pendapatan dan beban umum dan general and administrative expenses are as
administrasi adalah sebagai berikut: follows:
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Biaya jasa kini 1.173 1.273 Current service cost
Biaya jasa lalu atas kurtailmen - (57) Past service cost on curtailment
Biaya bunga 943 911 Interest cost
Pendapatan bunga atas
aset program (716) (409) Interest income on plan assets
Penyesuaian liabilitas atas Liability released due to
karyawan transfer keluar (579) - employee transferred out
Penyesuaian liabilitas imbalan Adjustment to the liability
repatriasi untuk PHK for repatriation benefits due to
mengundurkan diri (5) - voluntary terminations.
Alokasi pegawai
perbantuan 650 739 Secondee employee allocation
Jumlah 1.466 2.457 Total
Jumlah yang diakui dalam penghasilan Amounts recognised in other comprehensive
komprehensif lain adalah sebagai berikut: income are as follows:
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Kerugian atas perubahan Loss from changes in
asumsi keuangan 2.346 2.263 financial assumptions
Kerugian/(keuntungan) atas (Gain) from
penyesuaian pengalaman 468 (318) experience adjustments
Imbal hasil atas aset
program 93 1 Return on plan assets
Jumlah 2.907 1.946 Total
Page 614
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/64 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
17. PENYISIHAN IMBALAN KERJA KARYAWAN 17. PROVISION FOR EMPLOYEE BENEFITS
(lanjutan) (continued)
b. Imbalan kerja jangka panjang (lanjutan) b. Long-term employee benefits (continued)
1. Imbalan pascakerja (lanjutan) 1. Post employment benefits (continued)
Mutasi liabilitas imbalan kerja adalah The movements in employee benefits liability
sebagai berikut: are as follows:
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Saldo awal 8.452 13.070 Beginning balance
Pembayaran imbalan kerja (2.278) (4.549) Benefits paid
Biaya yang diakui pada Expense recognized
laba rugi 1.466 2.457 in profit or loss
Biaya /(pendapatan) yang diakui Income recognized
pada pendapatan in other comprehensive
komprehensif lain 2.907 (1.946) income
Dampak perubahan kurs
mata uang asing (284) (580) Foreign exchange differential
Saldo akhir 10.263 8.452 Ending balance
Analisa sensitivitas terhadap asumsi utama Sensitivity analysis of the key assumptions
yang digunakan dalam menentukan used in determining pension benefits
kewajiban imbalan pensiun adalah sebagai obligations is as follows:
berikut:
31 Desember/ 31 Desember/
December 31, 2025 December 31, 2024
Kenaikan/ Penurunan/ Kenaikan/ Penurunan/
Increase Decrease Increase Decrease
of 1% of 1% of 1% of 1%
Tingkat diskonto (16.332) 20.493 (12.375) 15.745 Discount rate
Kenaikan gaji 20.530 (16.267) 15.793 (12.372) Salary increase
Analisis jatuh tempo yang diharapkan dari The expected maturity analysis of undiscounted
manfaat pensiun tidak didiskontokan adalah pension benefits is as follows:
sebagai berikut:
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Kurang dari 1 tahun 475 149 Less than 1 year
Antara 1 sampai 5 tahun 1.809 1.522 Between 2 and 5 years
Di atas 5 tahun 13.569 9.725 Beyond 5 years
Durasi rata-rata dari kewajiban imbalan kerja The average duration of the benefit obligation
pada tanggal 31 Desember 2025 dan 2024 on December 31, 2025 and 2024, is 16 to 17
adalah 16 sampai 17 tahun. years.
Page 615
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/65 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
17. PENYISIHAN IMBALAN KERJA KARYAWAN 17. PROVISION FOR EMPLOYEE BENEFITS
(lanjutan) (continued)
b. Imbalan kerja jangka panjang (lanjutan) b. Long-term employee benefits (continued)
2. Imbalan kerja jangka panjang lainnya 2. Other long-term employee benefits
Imbalan kerja jangka panjang lainnya Other long-term employee benefits
merupakan penghargaan masa kerja yang represent the length of service awards
diberikan kepada para karyawan, yang terdiri provided to the employees, which consist of
atas Masa Persiapan Purna Karya (“MPPK”) Masa Persiapan Purna Karya (“MPPK”) and
dan Ulang Tahun Dinas (“UTD”). Ulang Tahun Dinas (“UTD”).
Jumlah yang diakui dalam laporan posisi Amounts recognised in the consolidated
keuangan konsolidasian adalah sebagai statement of financial position are as
berikut: follows:
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Liabilitas imbalan
kerja jangka Other long-term
panjang lainnya 1.125 567 employee benefits
Mutasi nilai kini kewajiban adalah sebagai The movements in present value of
berikut: obligation are as follows:
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Saldo awal 567 355 Beginning balance
Diakui pada laporan
laba rugi 577 229 Recognized in profit or loss
Dampak perubahan
kurs mata uang
asing (19) (17) Foreign exchange differential
Saldo akhir 1.125 567 Ending balance
Jumlah yang diakui dalam beban pokok Amounts recognized in cost of revenues and
pendapatan dan beban umum dan general and administrative expenses are as
administrasi adalah sebagai berikut: follows:
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Biaya jasa kini 95 45 Current service cost
Biaya bunga 39 23 Interest cost
Jumlah 134 68 Total
Page 616
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/66 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
17. PENYISIHAN IMBALAN KERJA KARYAWAN 17. PROVISION FOR EMPLOYEE BENEFITS
(lanjutan) (continued)
b. Imbalan kerja jangka panjang (lanjutan) b. Long-term employee benefits (continued)
2. Imbalan kerja jangka panjang lainnya 2. Other long-term employee benefits
(lanjutan) (continued)
Jumlah yang diakui dalam penghasilan Amounts recognized in other
komprehensif lain adalah sebagai berikut: comprehensive income are as follows:
31 Desember/ 31 Desember/
December 31 December 31,
2025 2024
Kerugian atas perubahan asumsi Loss from changes in
keuangan - 21 financial assumptions
Kerugian/(keuntungan)
atas penyesuaian Loss/(gain) from experience
pengalaman 67 140 adjustments
Imbal hasil
atas aset program 376 - Return on plan asset
Jumlah 443 161 Total
Analisa sensitivitas terhadap asumsi utama Sensitivity analysis to the critical
uang digunakan dalam menentukan assumptions used in determining other
kewajiban imbalan kerja jangka Panjang long-term benefits obligations are as
lainnya adalah sebagai berikut: follows:
31 Desember/ 31 Desember/
December 31, 2025 December 31, 2024
Kenaikan/ Penurunan/ Kenaikan/ Penurunan/
Increase Decrease Increase Decrease
of 1% of 1% of 1% of 1%
Tingkat diskonto (1.054) 1.202 (529) 610 Discount rate
Kenaikan gaji 1.200 (1.055) 609 (529) Salary increase
Analisis jatuh tempo yang diharapkan dari Expected maturity analysis of undiscounted
manfaat pensiun tidak didiskontokan adalah pension benefits are as follows:
sebagai berikut:
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Kurang dari 1 tahun 31 - Less than 1 year
Antara 1 sampai 5 tahun 1.108 293 Between 1 and 5 years
Di atas 5 tahun 1.038 790 Beyond 5 years
Durasi rata-rata dari kewajiban imbalan kerja The average duration of the other long-term
jangka panjang lainnya pada tanggal employee benefit obligation on December
31 Desember 2025 dan 2024, masing- 31, 2025 and 2024, is 15 years and 11 years,
masing adalah 15 tahun dan 11 tahun. respectively.
c. Kewajiban jangka panjang lainnya c. Other long-term liabilities
Kewajiban jangka panjang lainnya merupakan Other long-term liabilities include a defined
program kesehatan pensiun dengan skema contribution pension health program that the
iuran pasti yang telah ditentukan oleh Company determined as of December 31, 2024,
Perusahaan sampai dengan 31 Desember 2024 with additional provision of US$1,206 after
dengan provisi tambahan senilai US$1.206, funding. As of December 31, 2025, the
setelah dilakukan pendanaan. Sampai dengan Company has added the provision value of
31 Desember 2025, Perusahaan telah US$1,908.
menambahkan nilai provisi menjadi US$1.908.
Page 617
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/67 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
17. PENYISIHAN IMBALAN KERJA KARYAWAN 17. PROVISION FOR EMPLOYEE BENEFITS
(lanjutan) (continued)
c. Kewajiban jangka panjang lainnya (lanjutan) c. Other long-term liabilities (continued)
Perusahaan melakukan perhitungan nilai The Company calculates the value of the
kewajiban dengan mempertimbangkan asumsi obligation by considering the assumption of a
tingkat kenaikan gaji sebesar 6,34% per tahun salary increase rate of 6.34% per year and an
dan hasil investasi (tingkat diskonto) sebesar investment return (discount rate) of 5% per year,
5% per tahun, sesuai dengan asumsi manfaat following the assumption of benefits of Pertamina
sebesar kapitasi Pertamina. capitation.
18. EKUITAS YANG DAPAT DIATRIBUSIKAN 18. EQUITY ATTRIBUTABLE TO OWNERS OF THE
KEPADA PEMILIK ENTITAS INDUK PARENT
a. Modal saham a. Share capital
Pada tanggal 31 Desember 2025, susunan As of December 31, 2025, the Company’s
pemegang saham Perusahaan adalah sebagai shareholders are as follows:
berikut:
Persentase
kepemilikan/
Percentage of Nilai Rp/
Lembar/Shares ownership IDR Value Nilai/Value
PT Pertamina Power Indonesia 28.568.460.000 68,32 14.284.230.000.000 1.014.248 PT Pertamina Power Indonesia
Masdar Indonesia Solar Holdings Masdar Indonesia Solar Holdings
RSC Limited 6.209.421.300 14,85 3.104.710.650.000 220.578 RSC Limited
PT Pertamina Pedeve Indonesia 2.477.682.000 5,93 1.238.841.000.000 88.608 PT Pertamina Pedeve Indonesia
Lain-lain - Publik (masing- masing
di bawah 5%) 4.560.200.096 10,90 2.280.100.048.000 160.079 Others - Public (each below 5%)
Jumlah 41.815.763.396 100,00 20.907.881.698.000 1.483.513 Total
Pada tanggal 31 Desember 2024, susunan As of December 31, 2024, the Company’s
pemegang saham Perusahaan adalah sebagai shareholders are as follows:
berikut:
Persentase
kepemilikan/
Percentage of Nilai Rp/
Lembar/Shares ownership IDR Value Nilai/Value
PT Pertamina Power Indonesia 28.568.460.000 68,83 14.284.230.000.000 1.014.248 PT Pertamina Power Indonesia
Masdar Indonesia Solar Holdings Masdar Indonesia Solar Holdings
RSC Limited 6.209.421.300 14,96 3.104.710.650.000 220.578 RSC Limited
PT Pertamina Pedeve Indonesia 2.477.682.000 5,97 1.238.841.000.000 88.608 PT Pertamina Pedeve Indonesia
Lain-lain - Publik (masing- masing
di bawah 5%) 4.252.460.849 10,24 2.126.230.424.500 151.060 Others - Public (each below 5%)
Jumlah 41.508.024.149 100,00 20.754.012.074.500 1.474.494 Total
Saham biasa memberikan hak kepada Ordinary shares entitle the holder to participate
pemegangnya untuk memperoleh dividen dan in dividends and the proceeds on winding up of
hasil dari pembubaran perusahaan sesuai the Company in proportion to the number of and
dengan proporsi jumlah dan jumlah yang amounts paid on the shares held.
dibayarkan atas saham yang dimiliki.
Page 618
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/68 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
18. EKUITAS YANG DAPAT DIATRIBUSIKAN 18. EQUITY ATTRIBUTABLE TO OWNERS OF THE
KEPADA PEMILIK ENTITAS INDUK (lanjutan) PARENT (continued)
a. Modal saham (lanjutan) a. Share capital (continued)
Pada tanggal 21 Februari 2024 dan 16 Agustus On February 21, 2024 and August 16, 2024, the
2024, Perusahaan telah menyampaikan laporan Company submitted information disclosure
keterbukaan informasi terkait pelaksanaan reports regarding the implementation of
MESOP Tahap I, yang diselenggarakan selama MESOP Phase I, which was conducted over 30
30 hari bursa sejak 24 Februari 2024 (periode trading days starting from February 24, 2024
pelaksanaan pertama), serta MESOP Tahap II, (the first implementation period), as well as
yang diselenggarakan selama 30 hari bursa MESOP Phase II, which was conducted over 30
sejak 24 Agustus 2024 (periode pelaksanaan trading days starting from August 24, 2024 (the
kedua). second implementation period).
Pada tahun 2025 dan 2024, pelaksanaan In 2025 and 2024, the implementation of
MESOP Tahap I masing masing mencakup MESOP Phase I covered 15,659,516 shares
15.659.516 lembar saham dengan nilai US$478 with a value of US$478 and 107,379,430 shares
dan 107.379.430 lembar saham dengan nilai with a value of US$3,420, respectively.
US$3.420.
Sementara itu, pada tahun 2025 dan 2024, Meanwhile, in 2025 and 2024, the
pelaksanaan MESOP Tahap II masing masing implementation of MESOP Phase II covered
mencakup 192.300.478 lembar saham dengan 192,300,478 shares with a value of US$5,897
nilai US$5.897 dan 4.502.719 lembar saham and 4,502,719 shares with a value of US$146,
dengan nilai US$146. respectively.
Pada tanggal 21 Februari 2025, Perusahaan On February 21, 2025, the Company submitted
telah menyampaikan laporan keterbukaan an information disclosure report regarding the
informasi terkait pelaksanaan Program MESOP implementation of the MESOP Phase III
Tahap III, yang berlangsung selama 30 hari Program, which was carried out over 30 trading
bursa sejak 24 Agustus 2025 (periode days starting from August 24, 2025 (the third
pelaksanaan ketiga). Pada tahun 2025, Program implementation period). In 2025, MESOP
MESOP Tahap III telah dilaksanakan atas Phase III was exercised for a total of 99,779,253
sebanyak 99.779.253 lembar saham dengan shares with a value of US$3,053.
nilai sebesar US$3.053.
b. Tambahan modal disetor b. Additional paid-in capital
Rincian tambahan modal disetor pada tanggal The details of additional paid-in capital as of
31 Desember 2025 dan 2024 adalah sebagai December 31, 2025 and 2024, are as follows:
berikut:
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Selisih nilai nominal dengan Difference in nominal value
penerimaan setoran modal 274.012 256.226 to proceeds of share capital
Difference in foreign exchange
Selisih kurs atas modal disetor (27.487) (27.487) rate on paid-in capital
Biaya penerbitan saham dalam Stock issuance costs related
rangka penawaran umum perdana (18.640) (18.640) to initial public offering
Kompensasi berbasis saham 11.289 5.998 Share-based compensation
Perbedaan antara nilai wajar Difference between fair value and
dan nilai buku aset tetap net book value of fixed assets
milik Pertamina yang dialihkan (27.804) (27.804) transferred from Pertamina
Jumlah 211.370 188.293 Total
Page 619
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/69 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
18. EKUITAS YANG DAPAT DIATRIBUSIKAN 18. EQUITY ATTRIBUTABLE TO OWNERS OF THE
KEPADA PEMILIK ENTITAS INDUK (lanjutan) PARENT (continued)
b. Tambahan modal disetor (lanjutan) b. Additional paid-in capital (continued)
Selisih nilai nominal dengan penerimaan setoran The difference between the nominal value and
modal merupakan selisih antara penerimaan the receipt of paid-in capital is the receipt in the
dalam rangka penawaran umum saham perdana context of the initial public offering of shares and
dengan nilai nominal saham baru yang tercatat. the par value of the newly registered shares.
Selisih kurs atas modal disetor merupakan The difference in foreign exchange rate on paid-
selisih antara kurs pada saat setoran modal in capital represents the difference between the
diterima dari pemegang saham dengan kurs exchange rates prevailing when the actual
yang digunakan untuk menentukan nilai nominal capital contributions were received from the
saham. stockholders and the exchange rate used to
determine the par value.
Biaya emisi saham merupakan biaya transaksi Share issuance costs are transaction costs
yang timbul dari aktivitas Penawaran Umum arising from the Initial Public Offering, including
Saham Perdana, antara lain mencakup biaya registration fees and other regulatory fees and
pendaftaran dan komisi lain yang ditetapkan, service fees paid to legal counsel, accountants,
jasa yang dibayarkan kepada penasehat hukum, and others.
akuntan, dan lain-lain.
Perbedaan nilai wajar dan nilai buku aset milik The difference between fair value and net book
Pertamina yang dialihkan merupakan value of fixed assets transferred from Pertamina
pengalihan aset panas bumi milik Pertamina represents the geothermal assets of Pertamina,
kepada Perusahaan (Catatan 2) yang diukur which were transferred to the Company (Note 2)
pada nilai wajar saat pengalihan. Pertamina and measured at fair value. Pertamina
menunjuk penilai independen KJPP Antonius appointed an independent appraiser KJPP
Setiady dan Rekan, untuk melakukan penilaian Antonius Setiady dan Rekan, to perform a fair
nilai wajar atas aset yang dialihkan sesuai value assessment for the assets were
dengan laporan No. KJPP-2010-011. transferred, following the report No. KJPP-
2010-011.
Kompensasi Berbasis Saham Share-based compensation
Perusahaan telah mengumumkan kepada Bursa The Company has announced to Bursa Efek
Efek Indonesia untuk menerbitkan MESOP Indonesia to issue MESOP with total of
dengan total 630.398.000 (angka penuh) opsi 630,398,000 (full number) stock options which
lembar saham yang akan dilakukan melalui will be exercised in several phases.
beberapa tahap.
Tujuan Program MESOP ini adalah untuk The MESOP Program aims to retain employees
mempertahankan karyawan demi pertumbuhan for the Group’s long-term growth and profitability
jangka panjang dan profitabilitas Grup dan untuk and provide rewards and incentives to
memberikan penghargaan dan insentif yang spur participants' performance. Participants of
dapat memacu kinerja peserta. Peserta program the MESOP program are the Board of Directors,
MESOP adalah Direksi, Dewan Komisaris Board of Commissioners (except Independent
(kecuali Komisaris Independen), dan karyawan Commissioners), and permanent and non-
tetap dan tidak tetap Perseroan yang aktif permanent employees of the Grup who are
bekerja dan memenuhi ketentuan pada saat actively working and meet the conditions when
Program MESOP ditawarkan. the MESOP Program is offered.
Page 620
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/70 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
18. EKUITAS YANG DAPAT DIATRIBUSIKAN 18. EQUITY ATTRIBUTABLE TO OWNERS OF THE
KEPADA PEMILIK ENTITAS INDUK (lanjutan) PARENT (continued)
b. Tambahan modal disetor (lanjutan) b. Additional paid-in capital (continued)
Kompensasi Berbasis Saham (lanjutan) Share-based compensation (continued)
Alokasi direkomendasikan oleh Dewan Direksi Allocation is recommended by the Board of
berdasarkan kinerja, masa kerja, peran dan Directors based on performance, service year,
dampak risiko terhadap perusahaan. Hak role and risk impact on the company. MESOP
MESOP dapat dicabut jika peserta keluar atau rights may be revoked if participants leave or
diberhentikan karena alasan disiplin, dengan are terminated for disciplinary reasons, with
alokasi ulang diperbolehkan. reallocation permitted.
31 Desember/December 31, 2025
Tahap I.1/ Tahap I.2/ Tahap II/ Tahap III/
Phase I.1 Phase I.2 Phase II Phase III
Jumlah opsi yang
diberikan (lembar Number of options
saham) 130.652.456 121.506.744 252.159.200 126.079.600 granted (shares)
Jumlah opsi yang telah
dieksekusi (lembar Number of options
saham): executed (shares):
- Jendela I Windows I -
(24 Februari 2024) (98.865.591) - - - (February 24, 2024)
- Jendela II Windows II -
(24 Agustus 2024) (8.513.839) - (4.502.719) - (August 24, 2024)
- Jendela III Windows III -
(24 Februari 2025) - - - - (February 24, 2025)
- Jendela IV Windows IV -
(24 Agustus 2025) (15.659.516) - (192.300.478) (99.779.253) (August 24, 2025)
Jumlah opsi sisa Remaining number of
(lembar saham) 7.613.510 121.506.744 55.356.003 26.300.347 options (shares)
31 Desember/December 31, 2024
Tahap I.1/ Tahap I.2/ Tahap II/ Tahap III/
Phase I.1 Phase I.2 Phase II Phase III
Jumlah opsi yang
diberikan (lembar Number of options
saham) 130.652.456 - 252.159.200 - granted (shares)
Jumlah opsi yang telah
dieksekusi (lembar Number of options
saham): executed (shares):
- Jendela I Windows I -
(24 Februari 2024) (98.865.591) - - - (February 24, 2024)
- Jendela II Windows II -
(24 Agustus 2024) (8.513.839) - (4.502.719) - (August 24, 2024)
Jumlah opsi sisa Remaining number of
(lembar saham) 23.273.026 - 247.656.481 - options (shares)
Kompensasi Berbasis Saham diselesaikan Share-based Compensation with Equity-settled
melalui lnstrumen Ekuitas. Nilai wajar dari setiap Payment. The fair value of each option right with
hak opsi yang diselesaikan dengan instrumen equity-settled payment, for the shares to be
ekuitas, untuk saham yang diterbitkan pada issued on exercise date, was estimated on the
tanggal pelaksanaan, diestimasi pada setiap grant date using market price whereby the
tanggal pemberian hak opsi dengan Company in substance will pay on behalf of the
menggunakan harga pasar untuk saham yang Group’s employees and the black-scholes
Perusahaan akan bayarkan atas nama merton (“BSM”) option pricing model whereby
Karyawan Grup dan model ”black-scholes the Group's employees will pay.
merton” (”BSM”) untuk saham yang Karyawan
Grup akan bayarkan sendiri.
Page 621
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/71 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
18. EKUITAS YANG DAPAT DIATRIBUSIKAN 18. EQUITY ATTRIBUTABLE TO OWNERS OF THE
KEPADA PEMILIK ENTITAS INDUK (lanjutan) PARENT (continued)
b. Tambahan modal disetor (lanjutan) b. Additional paid-in capital (continued)
Kompensasi Berbasis Saham (lanjutan) Share-based compensation (continued)
Model BSM MESOP tahap I menggunakan BSM MESOP phase I model uses the following
asumsi utama sebagai berikut: primary assumptions:
Harga saham saat tanggal pemberian opsi Share’s price at grant date
(angka penuh) Rp880 (full amount)
Harga pelaksanaan opsi (angka penuh) Rp648 Exercise price of option (full amount)
Volatilitas harga saham yang diharapkan 58% Exercise volatility of stock price
Suku bunga bebas risiko 5,57% - 6,04% Risk free interest rate
Model BSM MESOP tahap II menggunakan BSM MESOP phase II model uses the following
asumsi utama sebagai berikut: primary assumptions:
Harga saham saat tanggal pemberian opsi Share’s price at grant date
(angka penuh) Rp825 (full amount)
Harga pelaksanaan opsi (angka penuh) Rp1.087 Exercise price of option (full amount)
Volatilitas harga saham yang diharapkan 41,6% Exercise volatility of stock price
Suku bunga bebas risiko 6,08% - 6,48% Risk free interest rate
Model BSM MESOP tahap III menggunakan BSM MESOP phase III model uses the following
asumsi utama sebagai berikut: primary assumptions:
Harga saham saat tanggal pemberian opsi Share’s price at grant date
(angka penuh) Rp870 (full amount)
Harga pelaksanaan opsi (angka penuh) Rp838 Exercise price of option (full amount)
Volatilitas harga saham yang diharapkan 41,5% Exercise volatility of stock price
Suku bunga bebas risiko 6,17% - 6,74% Risk free interest rate
Model BSM MESOP tahap I.2 menggunakan BSM MESOP phase I.2 model uses the
asumsi utama sebagai berikut: following primary assumptions:
Harga saham saat tanggal pemberian opsi Share’s price at grant date
(angka penuh) Rp1.540 (full amount)
Harga pelaksanaan opsi (angka penuh) Rp648 Exercise price of option (full amount)
Volatilitas harga saham yang diharapkan 45,0% Exercise volatility of stock price
Suku bunga bebas risiko 4,99% - 5,88% Risk free interest rate
Grup membukukan pengukuran nilai wajar Group recorded the fair value measurement
atas hak opsi pada tanggal 31 Desember 2025 of option right on December 31, 2025 and 2024
dan 2024 sebagai provisi pada tahun berjalan, as provision on the reporting period amounted
masing-masing sebesar US$5.291 dan US$5.291 and US$1,590, respectively.
US$1.590.
c. Saldo laba c. Retained earnings
Berdasarkan Undang-undang Perseroan Under Indonesian Limited Company Law,
Terbatas, perusahaan diharuskan untuk companies must establish a statutory reserve
membuat penyisihan cadangan wajib hingga amounting to at least 20% of their issued and
sekurang-kurangnya 20% dari jumlah modal paid-up capital.
yang ditempatkan dan disetor penuh.
Page 622
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/72 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
18. EKUITAS YANG DAPAT DIATRIBUSIKAN 18. EQUITY ATTRIBUTABLE TO OWNERS OF THE
KEPADA PEMILIK ENTITAS INDUK (lanjutan) PARENT (continued)
c. Saldo laba (lanjutan) c. Retained earnings (continued)
Berdasarkan RUPST tanggal 28 Mei 2024 yang Based on the AGMS on May 28, 2024, the
hasilnya dituangkan dalam Akta Notaris No. 71 results of which were stated in Notarial Deed
tanggal 28 Mei 2024, oleh Notaris Ir. Nanette No. 71, dated 28 May 2024, by Notary Ir.
Cahyanie Handari Adi Warsito, S.H., para Nanette Cahyanie Handari Adi Warsito, S.H.,
pemegang saham telah menyetujui penggunaan shareholders have approved the use of the
laba bersih Perusahaan tahun buku 2023 untuk Company's net profit for the 2023 financial year
tambahan alokasi cadangan wajib sebesar for an additional mandatory reserve allocation
US$35.169. Perseroan tidak mengalokasikan of US$35,169. The Company does not allocate
untuk cadangan lainnya any other reserves.
Berdasarkan RUPST tanggal 3 Juni 2025 yang Based on the AGMS on June 3, 2025, the
hasilnya dituangkan dalam Akta Notaris No. 17 results of which were stated in Notarial Deed
tanggal 3 Juni 2025, oleh Notaris Ir. Nanette No. 17, dated June 3, 2025, by Notary Ir.
Cahyanie Handari Adi Warsito, S.H., para Nanette Cahyanie Handari Adi Warsito, S.H.,
pemegang saham telah menyetujui penggunaan shareholders have approved the use of the
laba bersih Perusahaan tahun buku 2025 untuk Company's net profit for the 2024 financial year
tambahan alokasi cadangan wajib sebesar for an additional mandatory reserve allocation
US$24.094. Perseroan tidak mengalokasikan of US$24,094. The Company does not allocate
untuk cadangan lainnya. any other reserves.
Saldo laba yang sudah ditentukan The balance of the appropriated retained
penggunaannya pada tanggal 31 Desember earnings as of December 31, 2025 and 2024,
2025 dan 2024 masing-masing sebesar amounting to US$191,533 and US$167,438,
US$191.533 dan US$167.438. respectively.
19. KEPENTINGAN NON-PENGENDALI 19. NON-CONTROLLING INTERESTS
Kepentingan nonpengendali merupakan bagian Non-controlling interests represent the non-
pemegang saham nonpengendali atas ekuitas controlling shareholders’ portion of equity of the
entitas anak sebagai berikut: following subsidiaries:
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
PT Pertamina Geothermal PT Pertamina Geothermal
Energy Kotamobagu (6) (6) Energy Kotamobagu
PT Geothermal Energi Seulawah (440) (410) PT Geothermal Energi Seulawah
Jumlah (446) (416) Total
Page 623
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/73 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
20. PENDAPATAN 20. REVENUES
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Penjualan Uap & Listrik - pihak berelasi Steam & Electricity Sales - related parties
PT PLN Indonesia Power (Catatan 26b) PT PLN Indonesia Power (Note 26b)
Kamojang 68.335 69.865 Kamojang
Ulubelu 44.292 42.647 Ulubelu
Lahendong 36.811 37.503 Lahendong
PLN (Catatan 26b) PLN (Note 26b)
Kamojang 81.123 77.900 Kamojang
Ulubelu 71.978 71.516 Ulubelu
Lumut Balai 59.641 40.122 Lumut Balai
Lahendong 43.108 42.294 Lahendong
Karaha 10.132 8.684 Karaha
Subjumlah Penjualan Uap & Listrik 415.420 390.531 Subtotal of Steam & Electricity Sales
Production allowances - Production allowances -
pihak ketiga (Catatan 2b) 17.306 16.589 third parties (Note 2b)
Jumlah 432.726 407.120 Total
Penjualan uap dan listrik kepada pelanggan Sales of steam and electricity to customers are based
didasarkan pada PJBU dan PJBL. Mulai 1 Januari on SSCs and ESCs. Starting January 1, 2024, PT
2024, PT PLN (Persero) memindahkan proses PLN (Persero) transferred the invoice admission and
penerimaan tagihan dan pembayaran untuk payment process for steam sales in Ulubelu and
penjualan uap di Ulubelu dan Lahendong kepada Lahendong to its subsidiary, PT PLN Indonesia
anak perusahaannya, PT PLN Indonesia Power. Power.
21. BEBAN POKOK PENDAPATAN DAN BIAYA 21. COST OF REVENUE AND OTHER DIRECT COST
LANGSUNG LAINNYA
31 Desember/ 31 Desember/
December 31, Desember 31,
2025 2024
Beban penyusutan 126.926 112.263 Depreciation expenses
Upah dan tunjangan 45.605 27.986 Salaries and allowances
Tenaga kerja dan Manpower and
jasa profesional 9.604 8.668 professional services
Jasa teknik 5.324 5.938 Technical/specialist service
Material dan peralatan 3.541 3.340 Materials and equipment
Asuransi 2.734 2.084 Insurance
Sewa (Catatan 10) 2.612 2.717 Rental (Note 10)
Perjalanan Dinas 1.782 2.456 Travel expense
Lain-lain 1.534 1.269 Others
Jumlah 199.662 166.721 Total
Page 624
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/74 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
22. BEBAN UMUM DAN ADMINISTRASI 22. GENERAL AND ADMINISTRATIVE EXPENSES
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Upah dan tunjangan 14.774 12.236 Salaries and allowances
Tenaga kerja dan jasa profesional 7.767 6.540 Manpower and professional services
Sewa (Catatan 10) 1.289 655 Rental (Note 10)
Promosi dan sponsorship 1.056 1.381 Promotion and sponsorship
Beban penyusutan 1.047 1.070 Depreciation expense
Material dan peralatan 897 878 Materials and equipment
Perjalanan dinas 747 1.074 Travel Expense
Perizinan dan lisensi 594 529 License and permit
Biaya jasa keuangan 579 4.250 Financial service fee
Telekomunikasi 509 154 Telecommunication
Lain-lain 1.425 904 Others
Jumlah 30.684 29.671 Total
23. PENDAPATAN DAN BEBAN KEUANGAN 23. FINANCE INCOME AND EXPENSES
a. Pendapatan keuangan a. Finance income
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Bunga jasa giro 8.032 9.239 Interest from current account
Bunga deposito 19.954 24.163 Interest from time deposits
Lain-lain 235 163 Others
Jumlah 28.221 33.565 Total
b. Beban keuangan b. Finance costs
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Bunga obligasi (Catatan 16) 23.089 23.805 Bonds interest (Note 16)
Bunga pinjaman Long-term loan
jangka panjang (Catatan 26j) 6.969 8.211 interest (Note 26j)
Bunga atas sewa (Catatan 10) 226 98 Interest on lease (Note 10)
Jumlah 30.284 32.114 Total
Page 625
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/75 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
24. PENDAPATAN LAIN-LAIN, BERSIH DAN (RUGI)/ 24. OTHER INCOME, NET AND (LOSS)/GAIN
LABA SELISIH KURS FOREIGN EXCHANGE
a. Pendapatan lain-lain, bersih a. Other income, net
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Pendapatan dari denda kontrak Income from penalties contracts
dan pembelian material 1.073 237 and materials purchases
(Penyisihan)/pemulihan penurunan nilai (Allowance)/recovery for decline in value
- piutang usaha (597) - of account receivable
- persediaan 134 (1.653) - of inventories
Dividen 1.830 1.994 Dividends
Penjualan kredit karbon 839 593 Carbon credit sales
Lain-lain, bersih (88) (1.628) Others, net
Jumlah 3.191 (457) Total
b. (Rugi)/laba selisih kurs b. (Loss)/gain foreign exchange
(Rugi)/laba selisih kurs terutama berasal dari (Loss)/gain on foreign exchange mainly resulted
translasi aset dan liabilitas moneter dalam mata from the translation of assets and liabilities in
uang asing dan perbedaan nilai tukar transaksi foreign currencies and differences in exchange
dari kegiatan usaha Grup dalam mata uang rates on the Group’s operational transactions
asing, terutama disebabkan oleh perubahan nilai denominated in foreign currencies, primarily due
tukar dolar AS terhadap Yen Jepang dan to changes in the exchange rate of the US dollar
Rupiah. against the Japanese Yen and Rupiah.
25. PERPAJAKAN 25. TAXATION
a. PPN yang dapat ditagihkan kembali a. Reimbursable VAT
Berdasarkan Keputusan Menteri Keuangan Following the Decision Letter of the Minister of
No. 766/KMK.04/1992 tanggal 13 Juli 1992 dan Finance No. 766/KMK.04/1992, dated July 13,
amandemennya No. 209/KMK.04/1998 tanggal 1992, and its amendment
9 April 1998, permintaan pengembalian PPN No. 209/KMK.04/1998, dated April 9, 1998,
kepada Direktorat Jenderal Anggaran (“DJA”) requests for reimbursements of VAT may be
Kementerian Keuangan dapat diajukan apabila made to the Directorate General of Budgeting
masing-masing wilayah kerja panas bumi yang (“DGB”) of the Ministry of Finance once the
terkait telah menghasilkan keuntungan. Jumlah related geothermal working areas have
PPN yang dapat dikembalikan tersebut generated income. The maximum reimbursable
maksimal sebesar bagian Pemerintah yang VAT amount is limited to the Government’s
telah disetorkan untuk masing-masing wilayah share of revenue from the respective working
kerja (Catatan 3m). areas, being the income tax paid by the
Company (Note 3m).
Page 626
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/76 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
25. PERPAJAKAN (lanjutan) 25. TAXATION (continued)
a. PPN yang dapat ditagihkan kembali (lanjutan) a. Reimbursable VAT (continued)
Berdasarkan Peraturan Menteri Keuangan Based on the Regulation of Minister of Finance
Republik Indonesia No. 142/PMK.02/2013 No. 142/PMK.02/2013 dated October 18, 2013,
tanggal 18 Oktober 2013, seluruh PPN yang all reimbursable VAT paid under the Company’s
dapat ditagihkan kembali yang telah disetor atas name and tax number will be reimbursed to the
nama dan nomor pokok wajib pajak Perusahaan Company based on the amount approved by the
akan dibayarkan kepada Perusahaan DGB.
berdasarkan jumlah pengembalian yang
disetujui oleh DJA.
Mutasi saldo PPN yang dapat ditagihkan Movements of reimbursable VAT during
kembali selama 31 Desember 2025 dan 2024 December 31, 2025 and 2024, are as follows:
adalah sebagai berikut:
31 December/ 31 Desember/
December 31, December 31,
2025 2024
Saldo awal 115.635 114.477 Beginning balance
Penambahan selama Additions
tahun berjalan 12.994 14.260 during the years
Dibebankan ke laba/rugi Charged to profit/loss
tahun berjalan - (220) during the years
Pengembalian selama Reimbursements
tahun berjalan (23.381) (7.790) during the years
Efek perubahan Effect of exchange
nilai kurs (4.001) (5.092) rate changes
Saldo akhir 101.247 115.635 Ending balance
Bagian lancar 411 17.175 Current portion
Bagian tidak lancar 100.836 98.460 Non-current portion
Jumlah 101.247 115.635 Total
PPN yang dapat ditagihkan kembali 107.532 122.907 Reimbursable-VAT
Penyisihan keterpulihan PPN (6.285) (7.272) Provision for uncollectible VAT
Jumlah, bersih 101.247 115.635 Total, net
Saldo bagian lancar PPN yang dapat ditagihkan The current portion of reimbursable VAT
kembali merupakan jumlah PPN yang represents VAT expected to be reimbursed by
diharapkan pengembaliannya dari DJA dalam the DGB within one year from the statements of
kurun waktu satu tahun sejak tanggal laporan financial position dates based on management’s
posisi keuangan yang ditentukan berdasarkan best estimate.
estimasi terbaik manajemen.
Page 627
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/77 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
25. PERPAJAKAN (lanjutan) 25. TAXATION (continued)
b. Pajak dibayar dimuka b. Prepaid Taxes
Pajak dibayar dimuka merupakan kelebihan Prepaid taxes represent the overpayment of the
bayar setoran bagian Pemerintah tahun 2024 Government's portion remittance for the year
untuk area Lumur Balai. Kelebihan bayar 2024 for the Lumur Balai area. The overpayment
tersebut akan dikompensasikan pada will be compensated in the calculation of the
perhitungan setoran bagian pemerintah tahun Government's portion remittance for the year
2026. 2026.
c. Utang Pajak c. Taxes Payable
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Pajak penghasilan Income taxes
- Pasal 23/26 169 205 Article 23/26 -
- Pasal 4(2) 280 248 Article 4 (2) -
- Pasal 21 292 774 Article 21 -
- Pasal 29 Article 29 -
2025: 13.358 - 2025:
2024: - 1.548 2024:
2021: 284 331 2021:
PPN 2.586 2.649 VAT
Jumlah 16.969 5.755 Total
d. Beban pajak penghasilan d. Income tax expense
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Kini 56.166 59.813 Current
Tangguhan 2.081 8.044 Deferred
Jumlah 58.247 67.857 Total
Page 628
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/78 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
25. PERPAJAKAN (lanjutan) 25. TAXATION (continued)
d. Beban pajak penghasilan (lanjutan) d. Income tax expense (continued)
Perhitungan beban pajak penghasilan kini The calculation of current corporate income tax
adalah sebagai berikut: expense is as follows:
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Laba konsolidasian sebelum Consolidated profit before
pajak penghasilan 195.914 228.160 income tax expense
Rugi sebelum pajak - Loss before income
Entitas Anak 199 809 tax - Subsidiaries
Laba sebelum beban Income before
pajak penghasilan 196.113 228.969 income tax expense
Beda temporer: Temporary differences:
Biaya provisi imbalan Provision for employee benefits
- karyawan Perusahaan 518 (6.705) - direct hire employee
Program kepemilikan saham Management and employee
manajemen dan karyawan 3.664 2.163 stock ownership program
Penyisihan penurunan nilai Allowance for decline in value
- persediaan (208) 2.136 - of inventories
Penyisihan penurunan nilai Allowance of decline in value
- piutang usaha 597 - - of account receivables
Aset hak guna 90 (360) Right of use assets
Utang pihak yang berelasi Related party payables
beban imbalan seconded employees
karyawan perbantuan (848) 568 benefits costs
Penyisihan penurunan
nilai pengembalian PPN (118) 220 VAT reimbursement provision
Penyusutan (9.816) (21.680) Depreciation expense
Subjumlah beda Subtotal temporary
temporer (6.121) (23.658) differences
Beda tetap: Permanent differences:
Donasi 1.522 1.731 Donations
Beban promosi dan Promotion and
representasi 662 1.312 representation expenses
Kompensasi karyawan 736 950 Employee compensation
Bagian laba dari Share profit of
ventura bersama (40) (453) joint venture
Lain-lain 504 547 Others
Pendapatan bunga yang
sudah terkena pajak Interest income
penghasilan final (28.183) (33.478) subject to final tax
Subjumlah beda tetap (24.799) (29.391) Subtotal permanent differences
Pendapatan kena pajak 165.193 175.921 Taxable income
Tarif pajak 34% 34% Tax rate
Beban pajak penghasilan Current income tax expense
kini - Perusahaan 56.166 59.813 the Company -
Beban pajak penghasilan Current income tax expense
kini - Entitas Anak - - Subsidiaries -
Beban pajak penghasilan Consolidated current income
kini konsolidasian 56.166 59.813 tax expense
Page 629
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/79 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
25. PERPAJAKAN (lanjutan) 25. TAXATION (continued)
d. Beban pajak penghasilan (lanjutan) d. Income tax expense (continued)
Rekonsiliasi antara laba sebelum beban pajak The reconciliation between income before
penghasilan dari kegiatan usaha panas bumi income tax expense from geothermal activities
dengan pendapatan kena pajak yang terkena and taxable income subject to tax under the
aturan pajak khusus panas bumi adalah sebagai geothermal tax regime is as follows:
berikut:
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Laba konsolidasian sebelum Consolidated profit before
pajak penghasilan 195.914 228.160 income tax expense
Tarif pajak 34% 34% Tax rate
Pajak penghasilan dengan Income tax
tarif pajak efektif 66.611 77.574 at the effective tax rate
Pengaruh pajak atas beda tetap: Tax effect of permanent differences:
Donasi 518 589 Donations
Beban promosi dan Promotion and
representasi 225 446 representation expense
Kompensasi karyawan 250 323 Employee compensation
Lain-lain 157 33 Others
Pendapatan bunga yang
sudah terkena pajak Interest income
penghasilan final (9.582) (11.383) subject to final tax
Pengaruh pajak atas Tax effects on loss in
rugi entitas anak 68 275 tax expense
Beban pajak penghasilan Consolidated income
konsolidasian 58.247 67.857 tax expense
Perhitungan utang pajak kini terutang adalah The analysis of the current income tax payable
sebagai berikut: is as follows:
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Beban pajak penghasilan kini dari Current income tax expense
kegiatan usaha panas bumi 56.166 59.813 involving geothermal activities
Dikurangi: Less:
Pajak penghasilan badan Payment of corporate
yang sudah dibayar (37.838) (55.438) income tax
Lebih setor tahun sebelumnya (2.370) - Previous year overpayment
Pajak penghasilan dibayar Payment of income tax
dimuka pasal 22 dan 23 (2.600) (2.827) article 22 and 23
Utang pajak penghasilan badan 13.358 1.548 Corporate income tax payable
Aturan Pajak Minimum Global (Global Anti-base The Global Anti-base Erosion Rule (“Pillar 2”
Erosion Rule atau model “Pilar 2”) telah diadopsi model) were adopted in Indonesia at the end of
di Indonesia pada akhir tahun 2024 dan berlaku 2024 and are applicable starting from January 1,
mulai 1 Januari 2025. Berdasarkan aturan 2025. According to these rules, the Group is
tersebut, Grup masuk dalam lingkup dan wajib within the scope and shall apply Pillar 2 rules.
menerapkan ketentuan Pilar 2. PMK (Peraturan PMK (Peraturan Menteri Keuangan or the
Menteri Keuangan) No. 136/2024 mengenai Ministry of Finance Rule) No. 136/2024 related
Pilar 2 telah disahkan dan secara substantif to Pillar 2 legislation has been enacted in
berlaku di Indonesia dan peraturan serupa juga Indonesia and similar laws also have been
sudah diberlakukan di beberapa yurisdiksi lain enacted in several other jurisdictions in which
tempat Grup beroperasi, dan telah berlaku the Group operates effective for the financial
efektif untuk tahun buku yang dimulai pada 1 year beginning January 1, 2025.
Januari 2025.
Page 630
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/80 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
25. PERPAJAKAN (lanjutan) 25. TAXATION (continued)
d. Beban pajak penghasilan (lanjutan) d. Income tax expense (continued)
Grup telah melakukan evaluasi atas potensi The Group has assessed of its potential
eksposur terhadap pajak penghasilan Pilar 2 exposure to Pillar Two income taxes based on
sesuai Laporan per negara (Country by Country the 2025 CbCR and financial information for the
Report or “CbCR”) dan informasi keuangan constituent entities within the Group and
tahun 2025 untuk entitas entitas konstituen determined the Group’s simplified effective tax
dalam Grup dan menetapkan bahwa tarif pajak rates is above 16% and therefore can apply Safe
efektif yang disederhanakan Grup adalah di atas Harbour does not have to pay top up Pillar 2
16% sehingga dapat menerapkan ketentuan income tax.
Safe Harbour dan tidak perlu membayar pajak
tambahan Pilar 2.
e. Pajak tangguhan e. Deferred tax
31 Desember /December 31, 2025
Dikreditkan/ Diakui di
(dibebankan) penghasilan
ke laporan komprehensif
laba-rugi/ lain/Charged
Saldo awal/ Credited/ to other Saldo akhir/
Beginning (charged) to comprehensive Ending
balance profit or loss income balance
Provisi imbalan pekerja Provision for secondee
perbantuan 1.396 (288) (43) 1.065 employee benefits obligations
Provisi imbalan karyawan Provision for direct hire
perusahaan 2.080 176 1.003 3.259 employee benefits obligations
Perubahan nilai wajar Changes in fair value
aset keuangan (7.383) - (2.737) (10.120) on financial assets
Program kepemilikan saham Management and employee
manajemen dan karyawan 736 1.246 - 1.982 stock ownership program
Aset hak guna (89) 31 - (58) Right of use assets
Penyisihan penurunan
nilai persediaan 726 (71) 655 Inventory provision
Penyisihan penurunan Allowance for decline in value
nilai piutang usaha - 203 - 203 of trade receivables
Provisi atas PPN yang Provision for
dapat ditagihkan kembali 2.177 (40) - 2.137 reimbursable VAT
Aset tetap (21.533) (3.338) - (24.871) Fixed assets
Jumlah (21.890) (2.081) (1.777) (25.748) Total
31 Desember/December 31, 2024
Dikreditkan/ Diakui di
(dibebankan) penghasilan
ke laporan komprehensif
laba-rugi/ lain/Charged
Saldo awal/ Credited/ to other Saldo akhir/
Beginning (charged) to comprehensive Ending
balance profit or loss income balance
Provisi imbalan pekerja Provision for secondee
perbantuan 1.386 192 (182) 1.396 employee benefits obligations
Provisi imbalan karyawan Provision for direct hire
perusahaan 5.035 (2.280) (675) 2.080 employee benefits obligations
Perubahan nilai wajar Changes in fair value
aset keuangan (9.860) - 2.477 (7.383) on financial assets
Program kepemilikan saham Management and employee
manajemen dan karyawan - 736 - 736 stock ownership program
Aset hak guna 33 (122) - (89) Right of use assets
Penyisihan penurunan
nilai persediaan - 726 726 Inventory provision
Provisi atas PPN yang Provision for
dapat ditagihkan kembali 2.102 75 - 2.177 reimbursable VAT
Aset tetap (14.162) (7.371) - (21.533) Fixed assets
Jumlah (15.466) (8.044) 1.620 (21.890) Total
Page 631
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/81 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
25. PERPAJAKAN (lanjutan) 25. TAXATION (continued)
f. Administrasi f. Administration
Undang-undang Perpajakan yang berlaku di The taxation laws of Indonesia require that each
Indonesia mengatur bahwa masing-masing company in the Group submit individual tax
entitas dalam Grup menghitung, menetapkan, returns based on self-assessment. Under the
dan membayar sendiri besarnya jumlah pajak prevailing regulations, the DJP may assess or
yang terutang secara individu. Berdasarkan amend taxes, currently within five years of the
peraturan perundang-undangan yang berlaku, time the tax becomes due.
DJP dapat menetapkan atau mengubah jumlah
pajak terutang, dalam batas waktu lima tahun
sejak saat terutangnya pajak.
26. SALDO DAN TRANSAKSI DENGAN PIHAK YANG 26. RELATED PARTY BALANCES AND
BERELASI TRANSACTIONS
a. Sifat dari transaksi dengan pihak yang a. Nature of related party transactions
berelasi
Transaksi pihak yang berelasi antara Grup Related party transactions between the Group
dengan Pertamina dan anak perusahaannya and Pertamina and its subsidiaries consist of
meliputi pembiayaan, pembebanan imbalan financing, the allocation of seconded employees
kerja karyawan perbantuan, pembebanan biaya past service cost, interest expense, insurance
bunga, biaya asuransi, dividen, dan transaksi expense, dividend, and other goods/services
penyerahan barang/jasa lainnya. transactions.
Sifat dan relasi dengan pihak-pihak yang The nature of the relationships with the related
mengadakan transaksi dengan Perusahaan: parties are as follows:
Hubungan/ Pihak-pihak yang berelasi/ Sifat transaksi/
Relations Related parties Nature of transaction
Pemegang saham tidak langsung/ PT Pertamina (Persero) ("Pertamina") Pembelian barang dan jasa dan
Indirect shareholders pinjaman pemegang saham/
purchases of goods and service
and loan from shareholder
Pemegang saham langsung/ PT Pertamina Power Indonesia (“PPI”) Pembayaran dividen, pembelian
Direct shareholders barang dan jasa, pendapatan/
Dividend payment purchases of
Goods and service, income
PT Pertamina Pedeve Indonesia Pembayaran dividen/
(”Pedeve”) Dividend payment
Entitas di bawah pengendalian yang PT Pertamina Hulu Energi (“PHE”) Pendapatan dividen/
sama/ Entity under common control Dividend income
PT Pertamina Patra Niaga (“Patra Niaga”) Pembelian barang dan jasa/
PT Patra Jasa (“Patra Jasa”) Purchase of goods and services
PT Asuransi Tugu Pratama Indonesia Tbk
(“ATPI”)
PT Pertamina Bina Medika IHC
(“Pertamedika”)
PT Pertamina Training & Consulting
(“PTC”)
PT Pratama Mitra Sejati (“PMS”)
PT Pertamina Drilling Services (“PDSI”)
PT Mitra Tour & Travel (“Mitratour”)
PT Prima Armada Raya (“PAR”)
Ventura bersama/Joint venture PT Cahaya Anagata Energy (”CAE”)
Page 632
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/82 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
26. SALDO DAN TRANSAKSI DENGAN PIHAK YANG 26. RELATED PARTY BALANCES AND
BERELASI (lanjutan) TRANSACTIONS (continued)
a. Sifat dari transaksi dengan pihak yang a. Nature of related party transactions
berelasi (lanjutan) (continued)
Sifat dan relasi dengan pihak-pihak yang The nature of the relationships with the related
mengadakan transaksi dengan Perusahaan: parties are as follows:
Hubungan/ Pihak-pihak yang berelasi/ Sifat transaksi/
Relations Related parties Nature of transaction
Entitas berelasi dengan Pemerintah/ PT PLN (Persero) (“PLN”) Penjualan uap dan listrik/
Government related entities PT PLN Indonesia Power Sales of steam and electricity
PT Bank Mandiri (Persero) Tbk Penempatan giro dan deposito/
(“Bank Mandiri”) current account and
PT Bank Negara Indonesia (Persero) Tbk time deposits
(“Bank BNI”)
PT Bank Rakyat Indonesia (Persero) Tbk
(“Bank BRI”)
PT Bank Tabungan Negara (Persero) Tbk
(“Bank BTN”)
PT Bank Syariah Indonesia (Persero) Tbk
(“Bank BSI”)
PT Wijaya Karya (Persero) Tbk (“Wika”) Pembelian barang dan jasa/
PT Telekomunikasi Indonesia Tbk Purchase of goods and services
(“Telkom”)
Direktorat Jenderal Anggaran (“DJA”) Perpajakan/taxation
b. Penjualan uap dan listrik b. Sales of steam and electricity
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
PLN 265.982 240.516 PLN
PT PLN Indonesia Power 149.438 150.015 PT PLN Indonesia Power
Jumlah 415.420 390.531 Total
Persentase terhadap total
pendapatan/
Percentage to total
revenues (%)
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
PLN 61,5 59,1 PLN
PT PLN Indonesia Power 34,5 36,8 PT PLN Indonesia Power
Jumlah 96,0 95,9 Total
Penjualan kepada PLN hanya atas penjualan Sales to PLN is only sales from the Group’s own
operasi sendiri Grup. operations.
Page 633
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/83 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
26. SALDO DAN TRANSAKSI DENGAN PIHAK YANG 26. RELATED PARTY BALANCES AND
BERELASI (lanjutan) TRANSACTIONS (continued)
c. Pembelian barang dan jasa c. Purchases of goods and services
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
PTC 3.517 3.844 PTC
ATPI 2.483 2.414 ATPI
PMS 2.130 2.008 PMS
Patra Jasa 1.850 2.091 Patra Jasa
Patra Niaga 1.797 7.100 Patra Niaga
Bina Medika 754 719 Bina Medika
PDSI 665 3.170 PDSI
Pertamina 494 449 Pertamina
PDC 464 107 PDC
PAR 458 577 PAR
SCU 312 80 SCU
Mitra Tour 199 503 Mitra Tour
Lain-lain (masing-masing
di bawah US$300) 262 77 Others (each below US$300)
Jumlah 15.385 23.139 Total
Persentase terhadap total
beban pokok pendapatan/
Percentage to total
cost of revenues (%)
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
PTC 1,8 2,0 PTC
ATPI 1,3 1,3 ATPI
PMS 1,1 1,1 PMS
Patra Jasa 0,9 1,1 Patra Jasa
Patra Niaga 0,9 3,8 Patra Niaga
Bina Medika 0,4 0,4 Bina Medika
PDSI 0,3 1,7 PDSI
Pertamina 0,3 0,2 Pertamina
PDC 0,2 0,1 PDC
PAR 0,2 0,3 PAR
SCU 0,2 0,0 SCU
Mitra Tour 0,1 0,3 Mitra Tour
Lain-lain 0,2 0,0 Others
Jumlah 7,9 12,3 Total
Barang dan jasa dibeli dari pihak-pihak yang Goods and services are bought from the
disebutkan di atas berdasarkan syarat-syarat abovementioned parties on standard
komersial. commercial terms and conditions.
d. Pendapatan bunga d. Interest income
Seluruh pendapatan bunga berasal dari bank All interest income was earned from state-owned
milik negara. banks.
e. Kas dan setara kas dan kas yang dibatasi e. Cash and cash equivalents and restricted
penggunaannya cash
Seluruh saldo kas dan setara kas dan kas yang All cash and cash equivalents, as well as
dibatasi penggunaannya ditempatkan pada restricted cash, are placed at state-owned
bank milik negara. banks.
Page 634
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/84 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
26. SALDO DAN TRANSAKSI DENGAN PIHAK YANG 26. RELATED PARTY BALANCES AND
BERELASI (lanjutan) TRANSACTIONS (continued)
f. Piutang usaha - pihak yang berelasi f. Trade receivables - related parties
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
PLN 100.734 92.610 PLN
PT PLN Indonesia Power 22.620 32.017 PT PLN Indonesia Power
Dikurangi: Less:
Penyisihan penurunan nilai (597) - Allowance for decline in value
Jumlah 122.757 124.627 Total
Persentase terhadap total aset/
Percentage to total assets (%)
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
PLN 3,3 3,1 PLN
PT PLN Indonesia Power 0,7 1,1 PT PLN Indonesia Power
Dikurangi: Less:
Penyisihan penurunan nilai (0,02) - Allowance for decline in value
Jumlah 3,98 4,2 Total
Piutang usaha dari PLN termasuk penjualan Trade receivables from PLN include pass-
pass-through dengan kontraktor KOB. Per through sales involving the JOC contractors. As
tanggal 31 Desember 2025 dan 2024, piutang of December 31, 2025 and 2024, trade
usaha dari transaksi pass-through masing- receivables arising from pass-through
masing sebesar US$61.559 dan US$67.093 transactions amounted to US$61,559 and
(Catatan 6a). US$67,093, respectively (Notes 6a).
g. Piutang lain-lain - pihak yang berelasi g. Other receivables - related parties
31 Desember 31 Desember/
December 31, December 31,
2025 2024
Bagian jangka pendek Current Portion:
DJA 2.413 1.016 DJA
PHE 1.830 1.994 PHE
PLN 333 345 PLN
PPI 5 659 PPI
Lain-lain (masing-masing
di bawah US$300) 470 27 Others (each below US$300)
Subjumlah 5.051 4.041 Subtotal
Bagian jangka panjang: Non-current portion:
PLN 6.934 7.529 PLN
Subjumlah 6.934 7.529 Subtotal
Jumlah 11.985 11.570 Total
Page 635
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/85 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
26. SALDO DAN TRANSAKSI DENGAN PIHAK YANG 26. RELATED PARTY BALANCES AND
BERELASI (lanjutan) TRANSACTIONS (continued)
g. Piutang lain-lain - pihak yang berelasi g. Other receivables - related parties (continued)
(lanjutan)
Persentase terhadap total aset/
Percentage to total assets (%)
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Bagian jangka pendek: Current portion:
DJA 0,1 0,0 DJA
PHE 0,1 0,1 PHE
PLN 0,0 0,0 PLN
PPI - 0,0 PPI
Lain-lain 0,0 0,0 Others
Subjumlah 0,2 0,1 Subtotal
Bagian jangka panjang: Current portion:
PLN 0,2 0,3 PLN
Subjumlah 0,2 0,3 Subtotal
Jumlah 0,4 0,4 Total
h. Utang usaha - pihak yang berelasi h. Trade payables - related parties
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
PDSI 721 18 PDSI
Wika 692 659 Wika
Patra Niaga 642 1.064 Patra Niaga
Lain-lain (masing-masing
di bawah US$300) 113 493 Others (each below US$300)
Jumlah 2.168 2.234 Total
Persentase terhadap total liabilitas/
Percentage to total liabilities (%)
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
PDSI 0,1 0,0 PDSI
Wika 0,1 0,1 Wika
Patra Niaga 0,1 0,1 Patra Niaga
Lain-lain 0,0 0,0 Others
Jumlah 0,3 0,2 Total
Page 636
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/86 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
26. SALDO DAN TRANSAKSI DENGAN PIHAK YANG 26. RELATED PARTY BALANCES AND
BERELASI (lanjutan) TRANSACTIONS (continued)
i. Utang lain-lain - pihak yang berelasi i. Other payables - related parties
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Pertamina 6.518 7.296 Pertamina
PTC 328 203 PTC
ATPI 154 2.385 ATPI
Lain-lain (masing-masing
di bawah US$300) 275 253 Others (each below US$300)
Jumlah 7.275 10.137 Total
Persentase terhadap total liabilitas/
Percentage to total liabilities (%)
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Pertamina 0,7 0,7 Pertamina
PTC 0,0 0,0 PTC
ATPI 0,0 0,2 ATPI
Lain-lain 0,0 0,1 Others
Jumlah 0,7 1,0 Total
j. Pinjaman jangka panjang - pihak yang j. Long-term loans - related party
berelasi
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Bagian jangka pendek: Current portion:
Dolar AS 9.932 9.570 US dollar
Yen 5.689 5.602 Yen
Subjumlah 15.621 15.172 Subtotal
Bagian jangka panjang: Non-current portion:
Dolar AS 197.264 217.197 US dollar
Yen 137.496 110.850 Yen
Subjumlah 334.760 328.047 Subtotal
Jumlah pinjaman 350.381 343.219 Total loan
Page 637
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/87 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
26. SALDO DAN TRANSAKSI DENGAN PIHAK YANG 26. RELATED PARTY BALANCES AND
BERELASI (lanjutan) TRANSACTIONS (continued)
j. Pinjaman jangka panjang - pihak yang j. Long-term loans - related party (continued)
berelasi (lanjutan)
Persentase terhadap total liabilitas/
Percentage to total liabilities (%)
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Bagian jangka pendek: Current portion:
Dolar AS 1,0 1,0 US dollar
Yen 0,6 0,6 Yen
Subjumlah 1,6 1,6 Subtotal
Bagian jangka panjang: Non-current portion:
Dolar AS 19,9 22,0 US dollar
Yen 13,9 11,2 Yen
Subjumlah 33,8 33,2 Subtotal
Jumlah pinjaman 35,4 34,8 Total loan
Pinjaman jangka panjang - pihak yang berelasi Long-term loans - related party represent loans
merupakan pinjaman dari Pertamina from Pertamina (Note 31b) to support the
(Catatan 31b) untuk membiayai belanja modal Group’s capital expenditures.
Grup.
Beban keuangan, termasuk beban keuangan Finance costs, including capitalised finance
yang dikapitalisasi, merupakan beban yang expenses, are related to loans obtained from
timbul dari perjanjian pinjaman dengan Pertamina.
Pertamina.
Page 638
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/88 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
26. SALDO DAN TRANSAKSI DENGAN PIHAK YANG 26. RELATED PARTY BALANCES AND
BERELASI (lanjutan) TRANSACTIONS (continued)
k. Biaya yang masih harus dibayar - pihak yang k. Accrued expenses - related parties
berelasi
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
PTC 949 1.846 PTC
PMS 544 470 PMS
PDSI 353 2.293 PDSI
Lain-lain (masing-masing
di bawah US$300) 1.052 518 Others (each below US$300)
Jumlah 2.898 5.157 Total
Persentase terhadap total liabilitas/
Percentage to total liabilities (%)
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
PTC 0,1 0,2 PTC
PMS 0,1 0,0 PMS
PDSI 0,0 0,2 PDSI
Lain-lain (masing-masing
di bawah US$300) 0,1 0,1 Others (each below US$300)
Jumlah 0,3 0,5 Total
l. Kompensasi manajemen kunci l. Key management compensation
Manajemen kunci termasuk direksi dan personil Key management includes the directors and
lain yang mempunyai peran kunci dalam Grup. other key personnel having key roles in the
Kompensasi yang dibayar atau terutang untuk Group. The compensation paid or payable to key
manajemen kunci atas dasar jasa pekerja management for employee services is shown
adalah sebagai berikut: below:
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Gaji dan imbalan pekerja Salaries and other short-term
jangka pendek 989 1.569 employee benefits
Imbalan pasca kerja 137 308 Post-employment benefits
Jumlah 1.126 1.877 Total
Page 639
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/89 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
27. DIVIDEN PER SAHAM 27. DIVIDENDS PER SHARE
Pada tanggal 28 Mei 2024 dalam Rapat Umum On May 28, 2024, at the Company's Annual General
Pemegang Saham Tahunan Perusahaan yang Meeting of Shareholders as outlined in Notarial Deed
dituangkan dalam Akta Notaris No. 71 tanggal 28 Mei No. 71 dated 28 May 2024, by Notary Ir. Nanette
2024, oleh Notaris Ir. Nanette Cahyanie Handari Adi Cahyanie Handari Adi Warsito, S.H., shareholders
Warsito, S.H., para pemegang saham telah have approved the distribution of cash dividends from
menyetujui pembagian dividen tunai yang berasal 2023 net profit of US$128,400 or US$0.003 (full
dari laba bersih tahun 2023 sebesar US$128.400 amount) per common share. Payment of the 2023
atau US$0,003 (nilai penuh) per saham biasa. cash dividend was paid on June 28, 2024.
Pembayaran atas dividen tunai tahun 2023 tersebut
telah dibayarkan pada tanggal 28 Juni 2024.
Pada tanggal 3 Juni 2025 dalam Rapat Umum On June 3, 2025, at the Company's Annual General
Pemegang Saham Tahunan Perusahaan yang Meeting of Shareholders as outlined in Notarial Deed
dituangkan dalam Akta Notaris No. 17 tanggal 3 Juni No. 17 dated June 3, 2025, by Notary Ir. Nanette
2025, oleh Notaris Ir. Nanette Cahyanie Handari Adi Cahyanie Handari Adi Warsito, S.H., shareholders
Warsito, S.H., para pemegang saham telah have approved the distribution of cash dividends from
menyetujui pembagian dividen tunai yang berasal 2024 net profit of US$136,400 or US$0.003 (full
dari laba bersih tahun 2024 sebesar US$136.400 amount) per common share.
atau US$0,003 (nilai penuh) per saham biasa.
28. LABA PER SAHAM 28. EARNINGS PER SHARE
Rekonsiliasi perhitungan laba per saham adalah The reconciliation of earnings per share calculation
sebagai berikut: is as follows:
a. Laba per saham dasar a. Basic earnings per share
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Laba periode berjalan Profit for
yang dapat diatribusikan the period attributable
kepada pemilik entitas induk 137.697 160.494 to owner of the parent
Jumlah rata-rata tertimbang Weighted average
saham 41.815.763.396 41.508.024.149 number of shares
Laba per saham dasar Earnings per share
diatribusikan kepada attributable to owners
pemilik entitas induk of the parent entity
(nilai penuh) 0,0033 0,0039 (full amount)
b. Laba per saham dilusian b. Diluted earnings per share
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Laba periode berjalan Profit for
yang dapat diatribusikan the period attributable
kepada pemilik entitas induk 137.697 160.494 to owner of the parent
Jumlah rata-rata tertimbang Weighted average
saham 42.026.540.000 41.778.953.656 number of shares
Laba per saham dilusian Diluted earnings per share
diatribusikan kepada attributable to owners
pemilik entitas induk of the parent entity
(nilai penuh) 0,0033 0,0038 (full amount)
Page 640
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/90 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
28. LABA PER SAHAM 28. EARNINGS PER SHARE
Rekonsiliasi perhitungan laba per saham adalah The reconciliation of earnings per share calculation
sebagai berikut: is as follows:
c. Jumlah rata-rata tertimbang saham yang c. Weighted average number of shares used as
digunakan sebagai penyebut the denominator
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Jumlah rata-rata tertimbang saham Weighted average number of
yang digunakan sebagai ordinary shares used as
penyebut dalam perhitungan the denominator in calculating
laba per saham dasar 41.815.763.396 41.508.024.149 basics earning per share
Penyesuaian untuk perhitungan Adjustment for calculation of
laba per saham dilusian: diluted earnings per share:
Kompensasi berbasis saham 210.776.604 270.929.507 Share-based compensation
Jumlah rata-rata tertimbang saham Weighted average number of
yang digunakan sebagai ordinary shares used as
penyebut dalam perhitungan the denominator in calculating
laba per saham dilusian 42.026.540.000 41.778.953.656 diluted earnings per share
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, share-based
kompensasi berbasis saham yang diberikan compensation granted to employees is dilutive
kepada karyawan bersifat dilutif dan disajikan and presented in the consolidated statements of
pada laporan laba rugi dan penghasilan profit or loss and other comprehensive income.
komprehensif lain konsolidasian.
Page 641
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/91 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
29. ASET DAN LIABILITAS KEUANGAN 29. FINANCIAL ASSETS AND LIABILITIES
Tabel berikut menyajikan aset dan liabilitas The following tables set out the Group’s financial
keuangan Grup pada tanggal 31 Desember 2025. assets and liabilities as at December 31, 2025.
Biaya perolehan
Jumlah/ diamortisasi/
Total Amortized cost FVOCI
31 Desember 2025 December 31, 2025
Aset keuangan Financial assets
Kas dan setara kas 718.499 718.499 - Cash and cash equivalents
Kas yang dibatasi penggunaannya 489 489 - Restricted cash
Piutang usaha Trade receivables
- Pihak yang berelasi 122.757 122.757 - Related parties -
- Pihak ketiga 3.472 3.472 - Third parties -
Piutang lain-lain Other receivables
- Pihak yang berelasi 11.985 11.985 - Related parties -
- Pihak ketiga 137 137 - Third parties -
Aset keuangan yang dinilai Financial assets at
pada nilai wajar melalui fair value through other
penghasilan komprehensif lain 29.764 - 29.764 comprehensive income
Jumlah aset keuangan 887.103 857.339 29.764 Total financial assets
Tabel berikut menyajikan aset dan liabilitas The following tables set out the Group’s financial
keuangan Grup pada tanggal 31 Desember 2024. assets and liabilities as at December 31, 2024.
Biaya perolehan
Jumlah/ diamortisasi/
Total Amortized cost FVOCI
31 Desember 2024 December 31, 2024
Aset keuangan Financial assets
Kas dan setara kas 655.191 655.191 - Cash and cash equivalents
Kas yang dibatasi penggunaannya 422 422 - Restricted cash
Piutang usaha Trade receivables
- Pihak yang berelasi 124.627 124.627 - Related parties -
- Pihak ketiga 3.498 3.498 - Third parties -
Piutang lain-lain Other receivables
- Pihak yang berelasi 11.570 11.570 - Related parties -
- Pihak ketiga 98 98 - Third parties -
Aset keuangan yang dinilai Financial assets at
pada nilai wajar melalui fair value through other
penghasilan komprehensif lain 21.716 - 21.716 comprehensive income
Jumlah aset keuangan 817.122 795.406 21.716 Total financial assets
Biaya perolehan diamortisasi/
Amortized cost
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Liabilitas keuangan Financial liabilities
Utang usaha Trade payables
- Pihak yang berelasi 2.168 2.234 Related parties -
- Pihak ketiga 86.362 94.561 Third parties -
Utang lain-lain Other payables
- Pihak yang berelasi 9.331 10.137 Related parties -
- Pihak ketiga 2.056 - Third parties -
Utang obligasi 399.050 398.643 Bonds payable
Pinjaman jangka panjang Long-term loans
- Pihak yang berelasi 350.381 343.219 Related party -
Biaya yang masih harus dibayar 66.153 88.053 Accrued expenses
Liabilitas sewa 3.447 3.951 Lease liabilities
Jumlah liabilitas keuangan 918.948 940.798 Total financial liabilities
Page 642
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/92 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
30. MANAJEMEN RISIKO KEUANGAN 30. FINANCIAL RISK MANAGEMENT
I. Faktor risiko keuangan I. Financial risk factors
Aktivitas yang dilakukan oleh Grup dihadapkan The Group’s activities expose it to a variety of
pada berbagai risiko keuangan: risiko pasar financial risks: market risk (including currency
(termasuk risiko nilai tukar mata uang asing, risk, interest rate risk, and price risk), credit risk,
risiko tingkat bunga, dan risiko harga), risiko and liquidity risk. The objectives of the Group’s
kredit dan risiko likuiditas. Tujuan dari risk management are to identify, measure,
manajemen risiko Grup adalah untuk monitor, and manage basic risks to safeguard
mengidentifikasi, mengukur, mengawasi, dan the Group’s long-term business continuity and
mengelola risiko dasar dalam upaya melindungi minimize potential adverse effects on the
kesinambungan bisnis Grup dalam jangka Group's financial performance.
panjang dan meminimalkan dampak yang tidak
diharapkan pada kinerja keuangan Grup.
Grup menggunakan berbagai metode untuk The Group uses various methods to measure its
mengukur risiko yang dihadapinya. Metode ini exposure to risk. These methods include
meliputi analisis sensitivitas untuk risiko tingkat sensitivity analysis for interest rates, foreign
suku bunga, nilai tukar, risiko harga lainnya, exchange rates, other price risks, credit risks,
risiko kredit, dan kajian lindung nilai. and hedging assessment.
a. Risiko pasar a. Market risk
i. Risiko nilai tukar mata uang asing i. Foreign exchange risk
Pendapatan dan pengeluaran dari Grup The Group’s revenue and expenditure
sebagian besar dalam mata uang dolar are dominated in US dollar, which
Amerika Serikat yang secara tidak indirectly represents a natural hedge on
langsung merupakan lindung nilai alami exposure to the fluctuation in foreign
(natural hedging) terhadap exposure exchange rates.
fluktuasi mata uang asing.
Analisis sensitivitas Sensitivity analysis
Penguatan (pelemahan) Rupiah, Euro, A strengthening (weakening) of the
dan Yen yang diindikasikan di bawah, Rupiah, Euro, and Yen respectively as
terhadap dolar AS akan meningkatkan indicated below, against the US dollar
(menurunkan) laba-rugi setelah pajak would have increased (decreased) after-
sebesar jumlah yang ditunjukkan di tax profit or loss by the amounts shown
bawah. Analisis ini didasarkan pada below. This analysis is based on foreign
varian nilai tukar mata uang asing yang currency exchange rate variances that
Grup pertimbangkan yang sangat the Group considered to be reasonably
mungkin terjadi pada tanggal pelaporan. possible at the reporting date. The
Analisis mengasumsikan bahwa seluruh analysis assumes that all other
variabel lain, pada khususnya tingkat variables, in particular interest rates,
suku bunga, tetap tidak berubah dan remain constant and excludes any
mengabaikan dampak atas perkiraan impact of forecasted sales and
penjualan dan pembelian. purchases.
Laba/(rugi)/Profit/(loss)
Penguatan/ Pelemahan/
Strengthening Weakening
31 Desember 2025 December 31, 2025
Rupiah (pergerakan 3%) 2.022 (1.904) Rupiah (3% movement)
Euro (pergerakan 3%) (5) 5 Euro (3% movement)
Yen (pergerakan 3%) (2.823) 2.823 Yen (3% movement)
Page 643
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/93 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
30. MANAJEMEN RISIKO KEUANGAN (lanjutan) 30. FINANCIAL RISK MANAGEMENT (continued)
I. Faktor risiko keuangan (lanjutan) I. Financial risk factors (continued)
a. Risiko pasar (lanjutan) a. Market risk (continued)
i. Risiko nilai tukar mata uang asing i. Foreign exchange risk (continued)
(lanjutan)
Laba/(rugi)/Profit/(loss)
Penguatan/ Pelemahan/
Strengthening Weakening
31 Desember 2024 December 31, 2024
Rupiah (pergerakan 3%) 580 (546) Rupiah (3% movement)
Euro (pergerakan 3%) 10 (10) Euro (3% movement)
Yen (pergerakan 3%) (2.540) 2.540 Yen (3% movement)
ii. Risiko harga ii. Price risk
Grup tidak terekspos secara signifikan The Group is not significantly exposed to
terhadap risiko harga karena harga price risk as prices are determined under
jualnya telah ditentukan berdasarkan its sales contracts.
kontrak penjualan.
iii. Risiko suku bunga iii. Interest rate risk
Risiko tingkat suku bunga Grup timbul The Group‘s interest rate risk arises from
dari kas dan setara kas, dan pinjaman cash and cash equivalents, and long-
jangka panjang pihak yang berelasi. term loans from related parties. The
Pendapatan dan arus kas yang Group’s income and operating cash flow
diperoleh Grup dari aktivitas operasi are substantially independent of
secara substansial independen changes in market interest rates.
terhadap perubahan suku bunga pasar.
Aset dan liabilitas keuangan yang Financial assets and liabilities issued at
diterbitkan dengan suku bunga floating rates expose the Group to cash
mengambang mengekspos Grup flow interest rate risks, while those
terhadap risiko suku bunga arus kas. issued at fixed rates expose the Group
Sedangkan aset dan liabilitas keuangan to fair value interest rate risk.
yang diterbitkan dengan tingkat suku
bunga tetap mengekspos Grup terhadap
risiko nilai wajar suku bunga.
Page 644
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/94 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
30. MANAJEMEN RISIKO KEUANGAN (lanjutan) 30. FINANCIAL RISK MANAGEMENT (continued)
I. Faktor risiko keuangan (lanjutan) I. Financial risk factors (continued)
a. Risiko pasar (lanjutan) a. Market risk (continued)
iii. Risiko suku bunga (lanjutan) iii. Interest rate risk (continued)
Tabel berikut ini merupakan rincian dari The following tables represents
aset dan liabilitas keuangan yang a breakdown of the Company’s financial
dipengaruhi oleh suku bunga: assets and liabilities impacted by
interest rates:
31 Desember/December 31, 2025
Suku bunga mengambang/ Suku bunga tetap/
Floating rate Fixed rate Tidak
Kurang dari Lebih dari Kurang dari Lebih dari berbunga/
satu tahun/ satu tahun/ satu tahun/ satu tahun/ Non-
Less than More than Less than More than interest Jumlah/
one year one year one year one year bearing Total
Aset keuangan/
Financial assets
Kas dan setara kas/
Cash and cash
equivalents 718.499 - - - - 718.499
Kas yang dibatasi
penggunaannya/
Restricted cash - - 489 - - 489
Piutang usaha/
Trade receivables - - - - 126.229 126.229
Piutang lain-lain/
Other receivables - - - - 12.122 12.122
Aset keuangan yang dinilai
pada nilai wajar
melalui pendapatan
komprehensif lain/
Financial assets at
fair value through other
comperehensive income - - - - 29.764 29.764
Jumlah aset keuangan/
Total financial assets 718.499 - 489 - 168.115 887.103
Liabilitas keuangan/
Financial liabilities
Utang usaha
Trade payables - - - - 88.530 88.530
Utang lain-lain/
Other payables - - - - 11.387 11.387
Utang Obligasi/
Bonds Payable - - - 399.050 - 399.050
Pinjaman jangka panjang/
Long-term loan 15.621 334.760 - - - 350.381
Biaya yang masih
harus dibayar/
Accrued expenses - - - - 66.153 66.153
Liabilitas sewa/
Lease liabilities 1.712 1.735 - - - 3.447
Jumlah liabilitas keuangan/
Total financial liabilities 17.333 336.495 - 399.050 166.070 918.948
Page 645
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/95 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
30. MANAJEMEN RISIKO KEUANGAN (lanjutan) 30. FINANCIAL RISK MANAGEMENT (continued)
I. Faktor risiko keuangan (lanjutan) I. Financial risk factors (continued)
a. Risiko pasar (lanjutan) a. Market risk (continued)
iii. Risiko suku bunga (lanjutan) iii. Interest rate risk (continued)
31 Desember/December 31, 2024
Suku bunga mengambang/ Suku bunga tetap/
Floating rate Fixed rate Tidak
Kurang dari Lebih dari Kurang dari Lebih dari berbunga/
satu tahun/ satu tahun/ satu tahun/ satu tahun/ Non-
Less than More than Less than More than interest Jumlah/
one year one year one year one year bearing Total
Aset keuangan/
Financial assets
Kas dan setara kas/
Cash and cash
equivalents 655.191 - - - - 655.191
Kas yang dibatasi
penggunaannya/
Restricted cash - - 237 185 - 422
Piutang usaha/
Trade receivables - - - - 128.125 128.125
Piutang lain-lain/
Other receivables - - - - 11.669 11.669
Aset keuangan yang dinilai
pada nilai wajar
melalui pendapatan
komprehensif lain/
Financial assets at
fair value through other
comperehensive income - - - - 21.716 21.716
Jumlah aset keuangan/
Total financial assets 655.191 - 237 185 161.510 817.123
Liabilitas keuangan/
Financial liabilities
Utang usaha
Trade payables - - - - 96.795 96.795
Utang lain-lain/
Other payables - - - - 10.137 10.137
Utang Obligasi/
Bonds Payable - - - 398.643 398.643
Pinjaman jangka panjang/
Long-term loan 15.172 328.047 - - - 343.219
Biaya yang masih
harus dibayar/
Accrued expenses - - - - 88.053 88.053
Liabilitas sewa/
Lease liabilities 1.402 2.549 - - - 3.951
Jumlah liabilitas keuangan/
Total financial liabilities 16.574 330.596 - 398.643 194.985 940.798
Perubahan 20 basis poin atas tingkat A change of 20 basis points in floating
suku bunga mengambang pada tanggal interest rates at the reporting date
pelaporan akan berpengaruh terhadap would have affected income for the year
laba tahun berjalan sebesar jumlah di by the amounts shown below. This
bawah. Analisis ini mengasumsikan analysis assumes that all other
bahwa seluruh variabel lain, terutama variables, particularly foreign currency
nilai tukar mata uang asing, tidak rates, remain constant.
berubah.
+20 bp -20bp
meningkat/increase menurun/decrease
Dampak terhadap: Effect on:
(Rugi) tahun berjalan (510) 510 (Loss) for the year
Sensitivitas arus kas (bersih) (1.501) 1.501 Cash flow sensitivity (net)
Page 646
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/96 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
30. MANAJEMEN RISIKO KEUANGAN (lanjutan) 30. FINANCIAL RISK MANAGEMENT (continued)
I. Faktor risiko keuangan (lanjutan) I. Financial risk factors (continued)
b. Risiko kredit b. Credit risk
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, the
jumlah maksimum eksposur dari risiko total maximum exposure to credit risk was
kredit adalah US$718.499 dan US$718,499 and US$655,191, which
US$655.191, yang berasal dari involves cash in banks. All the cash in banks
penempatan dana pada bank. Semua is placed at state-owned banks with AA+
penempatan dana ditempatkan pada bank and AAA ratings.
milik Pemerintah yang mendapatkan
peringkat AA+ dan AAA.
Grup tidak terekspos secara signifikan The Group is not significantly exposed to
terhadap risiko kredit dari piutang, karena credit risk as its primary customers for
pembeli utama adalah PLN dan PT PLN steam and electricity are PLN and PT PLN
Indonesia Power yang selama ini memiliki Indonesia Power, which have good
reputasi yang baik dan secara historis reputations and historically have always
selalu membayar utang mereka kepada paid their debts to the Group. PLN and PT
Grup. PLN dan PT PLN Indonesia Power PLN Indonesia Power are rated AAA by
memperoleh peringkat AAA dari external credit ratings PT Pemeringkat Efek
pemeringkat eksternal PT Pemeringkat Indonesia.
Efek Indonesia.
c. Risiko likuiditas c. Liquidity risk
Risiko likuiditas merupakan risiko yang Liquidity risk is defined as a risk that arises
muncul dalam situasi di mana posisi arus in situations where the Group’s cash flow
kas Grup mengindikasikan bahwa arus kas indicates that the cash inflow from short-
masuk dari pendapatan jangka pendek term revenue is not enough to cover the
tidak cukup untuk memenuhi arus kas cash outflow of short-term expenditures.
keluar untuk pengeluaran jangka pendek.
Pada tanggal 31 Desember 2025, Grup On December 31, 2025, the Group has
memiliki saldo modal kerja positif senilai positive working capital position amounting
US$666.674. to US$666,674.
Berdasarkan kondisi yang diungkapkan di Based on conditions as disclosed above,
atas, Manajemen berkeyakinan bahwa Management believes that the Group will be
Grup akan mampu melanjutkan sebagai able to continue as a going concern entity.
entitas yang memiliki keberlangsungan
usaha.
Page 647
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/97 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
30. MANAJEMEN RISIKO KEUANGAN (lanjutan) 30. FINANCIAL RISK MANAGEMENT (continued)
I. Faktor risiko keuangan (lanjutan) I. Financial risk factors (continued)
c. Risiko likuiditas (lanjutan) c. Liquidity risk (continued)
Tabel di bawah ini menggambarkan The table below analyses the Group’s
liabilitas keuangan Grup pada tanggal financial liabilities at December 31, 2025,
31 Desember 2025 dan 2024 berdasarkan and 2024, grouped according to maturity
jatuh temponya yang relevan berdasarkan based on the remaining period to the
periode sisa hingga tanggal jatuh tempo contractual maturity date. The amounts
kontraktual. Jumlah yang diungkapkan disclosed in the table are contractual
dalam tabel ini adalah nilai arus kas undiscounted cash flows:
kontraktual yang tidak terdiskonto:
31 Desember/December 31, 2025
Kurang dari Lebih dari
1 tahun/ 5 tahun/
Less than 1-5 tahun/ Later than
1 year 1-5 years 5 years Total
Liabilitas Liabilities
Utang usaha 88.530 - - 88.530 Trade payables
Utang lain-lain 11.387 - - 11.387 Other payables
Utang obligasi - 399.050 - 399.050 Bonds payable
Pinjaman jangka
panjang 15.621 67.279 267.481 350.381 Long-term loans
Biaya yang masih
harus dibayar 66.153 - - 66.153 Accrued expenses
Liabilitas sewa 1.712 1.735 - 3.447 Lease liabilities
Jumlah 183.403 468.064 267.481 918.948 Total
31 Desember/December 31, 2024
Kurang dari Lebih dari
1 tahun/ 5 tahun/
Less than 1-5 tahun/ Later than
1 year 1-5 years 5 years Total
Liabilitas Liabilities
Utang usaha 96.795 - - 96.795 Trade payables
Utang lain-lain 10.137 - - 10.137 Other payables
Utang obligasi - 398.643 - 398.643 Bonds payable
Pinjaman jangka
panjang 15.172 64.444 263.603 343.219 Long-term loans
Biaya yang masih
harus dibayar 88.053 - - 88.053 Accrued expenses
Liabilitas sewa 1.402 2.549 - 3.951 Lease liabilities
Jumlah 211.559 465.636 263.603 940.798 Total
Page 648
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/98 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
30. MANAJEMEN RISIKO KEUANGAN (lanjutan) 30. FINANCIAL RISK MANAGEMENT (continued)
II. Estimasi nilai wajar II. Fair value estimation
Tabel di bawah ini menganalisis instrumen The table below analyses financial instruments
keuangan yang dicatat pada nilai wajar carried at fair value, by level of valuation method.
berdasarkan tingkatan metode penilaian. The different levels of valuation methods have
Perbedaan pada setiap tingkatan metode been defined as follows:
penilaian dijelaskan sebagai berikut:
• Harga dikutip (tidak disesuaikan) dari pasar • Quoted prices (unadjusted) in active markets
yang aktif untuk aset atau liabilitas yang identik for identical assets or liabilities (Level 1);
(Tingkat 1);
• Input selain harga yang dikutip dari pasar yang • Inputs other than quoted prices included within
disertakan pada Tingkat 1 yang dapat Level 1 that are observable for the asset or
diobservasi untuk aset dan liabilitas, baik liability, either directly (that is, as prices) or
secara langsung (yaitu sebagai sebuah harga) indirectly (that is, derived from prices) (Level
atau secara tidak langsung (yaitu sebagai 2); and
turunan dari harga) (Tingkat 2); dan
• Input untuk aset atau liabilitas yang tidak • Inputs for the asset or liability that are not
didasarkan pada data pasar yang dapat based on observable market data (that is,
diobservasi (informasi yang tidak dapat unobservable inputs) (Level 3).
diobservasi) (Tingkat 3).
Tabel berikut menyajikan aset dan liabilitas The following table presents the Group’s
keuangan Grup yang diukur sebesar nilai wajar financial assets and liabilities that are measured
pada 31 Desember 2025: at fair value on December 31, 2025:
Tingkat 1/ Tingkat 2/ Tingkat 3/ Jumlah/
Level 1 Level 2 Level 3 Total
Aset keuangan yang
diukur pada nilai Financial assets
wajar melalui penghasilan at fair value through other
komprehensif lain comprehensive income
Instrumen ekuitas - 29.764 - - Equity instrument
Jumlah - 29.764 - - Total
Manajemen berpendapat bahwa nilai tercatat Management considers the carrying values of its
dari aset dan liabilitas keuangan berikut: financial assets and liabilities such as:
- kas dan setara kas - cash and cash equivalents
- kas yang dibatasi penggunaannya - restricted cash
- piutang usaha - trade receivables
- piutang lain-lain - other receivables
- utang usaha - trade payables
- utang lain-lain - other payables
- utang obligasi - bonds payable
- pinjaman jangka panjang - long term loan
- biaya yang masih harus dibayar - accrued expenses
mendekati nilai wajarnya pada 31 Desember approximate their fair values as at
2025. Nilai wajar instrumen ekuitas berdasarkan December 31, 2025. The fair values of equity
metode arus kas diskonto. instrument are calculated by applying the
discounted cash flow methods.
Page 649
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/99 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
30. MANAJEMEN RISIKO KEUANGAN (lanjutan) 30. FINANCIAL RISK MANAGEMENT (continued)
III. Manajemen risiko permodalan III. Capital risk management
Tujuan Grup dalam pengelolaan modal adalah The Group’s objectives when managing capital
untuk mempertahankan kelangsungan usaha are to safeguard the Group’s ability to continue
Grup guna memberikan imbal hasil kepada as a going concern in order to provide returns for
pemegang saham dan manfaat kepada shareholders and benefits to other stakeholders
pemangku kepentingan lainnya serta menjaga and to maintain an optimum capital structure
struktur modal yang optimal yang meliputi utang covering debt and equity to minimize the cost of
dan ekuitas untuk mengurangi biaya modal. capital.
Secara periodik, Grup melakukan penilaian Periodically, the Group conducts debt valuation
utang untuk menilai kemungkinan pembiayaan to assess possibilities of refinancing existing
kembali utang yang ada dengan utang baru debts with new ones which have more efficient
yang memiliki biaya yang lebih efisien sehingga cost that will lead to more optimized cost-of-debt.
mengoptimalkan biaya utang.
Grup dipersyaratkan oleh Undang-undang No. The Group is required by the Limited Liability
40 tahun 2007 tentang Perseroan Terbatas Company Law No. 40 of 2007 to allocate and
untuk mengalokasikan dana cadangan yang maintain a non-distributable reserve fund until
tidak boleh didistribusikan sampai dengan 20% such reserve reaches 20% of the issued and fully
dari modal saham ditempatkan dan disetor paid capital stock. This externally imposed
penuh. Persyaratan permodalan eksternal capital requirement is considered by the Group
tersebut dipertimbangkan oleh Grup dalam in the General Meeting of Shareholders.
Rapat Umum Pemegang Saham.
Permodalan Grup antara lain berasal dari The financing of Group comes from equity and
ekuitas dan pinjaman yang diberikan oleh loans provided by Pertamina, and bonds
Pertamina, serta utang obligasi. payable.
Page 650
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/100 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
31. PERJANJIAN, KOMITMEN, DAN KONTINJENSI 31. SIGNIFICANT AGREEMENTS, COMMITMENTS
SIGNIFIKAN AND CONTINGENCIES
a. Perjanjian-perjanjian a. Agreements
Berikut adalah kesepakatan kemitraan Grup As at December 31, 2025, the Group’s
pada tanggal 31 Desember 2025: partnership arrangements are as follows:
Tanggal Kontrak/ Berakhirnya Kontrak/ Jenis Kontrak/ Lokasi/
Para Pihak/Parties Contract Date End of Contract Type of Contract Location
PT Pertamina Geothermal 31 Januari/January 31 Desember/December PJBU Unit 1, 2 Kamojang,
Energy (dahulu/formerly 1992 (diubah 2040 dan 3/SSC Units Jawa Barat/
PERTAMINA) pada tanggal 1, 2 West Java
PT PLN Indonesia Power 11 Februari 2016/ and 3
(dahulu/formerly PT PLN amended on
(Persero)) February 11, 2016)
PT Pertamina Geothermal 26 Januari/January 360 bulan sejak tanggal PJBL Unit 4/ Kamojang,
Energy (dahulu/formerly 2004 (diubah pada operasi komersial (COD) ESC Unit 4 Jawa Barat/
PERTAMINA) tanggal 11 Februari (26 Januari 2008)/ West Java
PT PLN (Persero) 2016/amended on 360 months from
February 11, 2016) Commercial Operation Date
(COD) (January 26, 2008)
PT Pertamina Geothermal 12 Mei/May 1999 30 tahun sejak COD PJBU Unit 1/SSC Lahendong,
Energy (dahulu/formerly (diubah pada tanggal (21 Agustus 2001) / Unit 1 Sulawesi Utara/
PERTAMINA) 11 Februari 2016/ 30 years from COD North Sulawesi
PT PLN (Persero) *) amended on (August 21, 2001)
February 11, 2016)
PT Pertamina Geothermal 2 Agustus/August 2004 30 tahun sejak COD unit PJBU Unit 2 dan Lahendong,
Energy (dahulu/formerly (diubah pada tanggal terakhir (Unit 3) (7 April 3/ Sulawesi Utara/
PERTAMINA) 11 Februari 2009)/ SSC Units 2 and North Sulawesi
PT PLN (Persero) *) 2016/amended on 30 years from COD of the 3
February 11, 2016) last unit (Unit 3) (April 7,
2009)
PT Pertamina Geothermal 15 Januari/January 480 bulan sejak tanggal PJBU/SSC Sibayak,
Energy (dahulu/formerly 1996 (diubah Efektif yang dicantumkan Sumatera Utara/
PERTAMINA) pada tanggal dalam Amendmen SSC North Sumatera
PT Dizamatra Powerindo 8 Desember 2003/ tertanggal 8 Desember
amended on 2003/
December 8, 2003) 480 months from the
Effective date as stated in
the SSC Amendment dated
December 8, 2003
PT Pertamina Geothermal 16 November 1994 30 November 2040 KOB/JOC Salak,
Energy (dahulu/formerly (diubah pada tanggal Jawa Barat/
PERTAMINA) 22 Juli 2002/ West Java
Chevron Geothermal Salak, amended on
Ltd. (dahulu/formerly Unocal July 22, 2002)
Geothermal Indonesia Ltd.)
Dayabumi Salak Pratama
Ltd.
PT Pertamina Geothermal 16 November 1994 30 November 2040 PJBL/ESC Salak,
Energy (dahulu/formerly (diubah pada tanggal Jawa Barat/
PERTAMINA) 22 Juli 2002/ West Java
PT PLN (Persero) amended on
Chevron Geothermal Salak July 22, 2002)
Ltd. (dahulu/formerly Unocal
Geothermal Indonesia Lt d.)
Dayabumi Salak Pratama
Ltd.
Page 651
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/101 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
31. PERJANJIAN, KOMITMEN, DAN KONTINJENSI 31. SIGNIFICANT AGREEMENTS, COMMITMENTS
SIGNIFIKAN (lanjutan) AND CONTINGENCIES (continued)
a. Perjanjian-perjanjian (lanjutan) a. Agreements (continued)
Tanggal Kontrak/ Berakhirnya Kontrak/ Jenis Kontrak/ Lokasi/
Para Pihak/Parties Contract Date End of Contract Type of Contract Location
PT Pertamina Geothermal 15 Januari/January 684 bulan sejak tanggal KOB/JOC Darajat,
Energy (dahulu/formerly 1996 (diubah pada efektif berlakunya perjanjian Jawa Barat/
PERTAMINA) tanggal (16 November 1984) West Java
Chevron Geothermal 7 Februari 2003/ (SEGD telah notice ke PGE
Indonesia Ltd. amended on tanggal 22 September 2020
(dahulu/formerly Texaco February 7, 2003) mengenai perpanjangan
Darajat Ltd.) otomatis JOC) /
PT Darajat Geothermal 684 months commencing
Indonesia on the effective date
(November 16,1984) SEGD
has Noticed PGE dated
September 22, 2020 about
Automatic Extention JOC
Period))
PT Pertamina Geothermal 15 Januari/January 552 bulan sejak tanggal PJBL/ESC Darajat,
Energy (dahulu/formerly 1996 (diubah pada efektif berlakunya perjanjian Jawa Barat/
PERTAMINA) tanggal 1 Mei 2000/ (15 Januari 1996) (SEGD West Java
PT PLN (Persero) amended on telah notice ke PLN tanggal
Chevron Geothermal May 1, 2000) 22 September 2020
Indonesia Ltd. mengenai perpanjangan
(dahulu/formerly Texaco otomatis ESC /
Darajat Ltd.) 552 months after the
PT Darajat Geothermal effective date (January 15,
Indonesia 1996) SEGD has Noticed
PLN dated September 22,
2020 about Automatic
Extention ESC Period)
PT Pertamina Geothermal 27 Februari/ February 26 Agustus/August 2048 KOB/JOC Sarulla,
Energy (dahulu/formerly 1993 (amandemen Sumatera Utara/
PERTAMINA) kedua pada tanggal 4 North Sumatera
PT Medco Geopower April 2013/second
Sarulla amendment on April 4,
Orsarulla Inc. 2013)
Sarulla Power Asset Ltd.
Kyuden Sarulla Pte. Ltd.
Sarulla Operations Ltd.
PT Pertamina Geothermal 27 Februari/ February 26 Agustus/August 2048 PJBL/ESC Sarulla,
Energy (dahulu/formerly 1993 Sumatera Utara/
PERTAMINA) (amandemen kedua North Sumatera
PT PLN (Persero) dialihkan pada tanggal 4 April
dari/transferred from Unocal 2013/(second
North Sumatera Geothermal amendment on April 4,
Ltd. 2013)
PT Medco Geopower
Sarulla
Orsarulla Inc.
Sarulla Power Asset Ltd.
Kyuden Sarulla Pte. Ltd.
Sarulla Operations Ltd.
PT Pertamina Geothermal 17 November 1995 Berakhir pada 31 KOB/JOC Bedugul,
Energy (dahulu/formerly (diubah pada tanggal Desember 2040/ Bali
PERTAMINA) 10 Februari 2004/ Expired on December 31,
Bali Energy Ltd. amended on 2040
February 10, 2004)
Page 652
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/102 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
31. PERJANJIAN, KOMITMEN, DAN KONTINJENSI 31. SIGNIFICANT AGREEMENTS, COMMITMENTS
SIGNIFIKAN (lanjutan) AND CONTINGENCIES (continued)
a. Perjanjian-perjanjian (lanjutan) a. Agreements (continued)
Tanggal Kontrak/ Berakhirnya Kontrak/ Jenis Kontrak/ Lokasi/
Para Pihak/Parties Contract Date End of Contract Type of Contract Location
PT Pertamina Geothermal 17 November 1995 Berakhir pada 31 Desember PJBL/ESC Bedugul,
Energy (dahulu/formerly (diubah pada tanggal 2040/ Bali
PERTAMINA) 10 Februari Expires on December 31,
Bali Energy Ltd. PT PLN 2004/amended on 2040
(Persero) February 10, 2004)
PT Pertamina Geothermal 2 Desember/ 504 bulan sejak KOB/JOC Wayang Windu,
Energy (dahulu/formerly December 1994 2 Desember 1994/ Jawa Barat/
PERTAMINA) (amandemen kedua 504 months from West Java
Star Energy Geothermal pada tanggal 21 December 2, 1994
(Wayang Windu) Ltd. September
(dahulu/formerly Magma 2016/second
Nusantara Ltd.) amendment on
September 21, 2016)
PT Pertamina Geothermal 2 Desember/December 504 bulan sejak PJBL/ESC Wayang Windu,
Energy (dahulu/formerly 1994 (amandemen 2 Desember 1994/ Jawa Barat/
PERTAMINA) kedua pada tanggal 27 504 months from West Java
PT PLN (Persero) September December 2, 1994
Star Energy Geothermal 2016/second
(Wayang Windu) Ltd. amendment on
(dahulu/formerly Magma September 27, 2016)
Nusantara Ltd.)
PT Pertamina Geothermal 17 Februari/ 30 tahun sejak COD PJBU Unit 1 Ulubelu,
Energy February 2010 Unit 2 (23 Oktober 2012)/ dan 2/ Lampung
PT PLN (Persero) *) 30 years from COD SSC Units 1
Unit 2 (October 23, 2012) and 2
PT Pertamina Geothermal 26 April 2010 (diubah 30 tahun sejak COD PJBU Unit 4/ Lahendong,
Energy pada tanggal 11 (23 Desember 2011)/ SSC Unit 4 Sulawesi Utara/
PT PLN (Persero) *) Februari 30 years from COD North Sulawesi
2016/amended on (December 23, 2011)
February 11, 2016)
PT Pertamina Geothermal 26 April 2010 30 tahun sejak COD PJBU/SSC Hululais,
Energy (diubah pada tanggal Unit 2/ Bengkulu
PT PLN (Persero) 10 Agustus 30 years from COD
2016/amended on 10 Unit 2
August 2016)
PT Pertamina Geothermal 26 April 2010 30 tahun sejak COD PJBU/SSC Sungai Penuh,
Energy Unit 2/ Jambi
PT PLN (Persero) 30 years from COD
Unit 2
PT Pertamina Geothermal 11 Maret/ 360 bulan sejak COD PJBL Unit 5/ Kamojang,
Energy March 2011 (29 September 2015)/ ESC Unit 5 Jawa Barat/
PT PLN (Persero) (diubah pada tanggal 360 months from COD West Java
11 Februari 2016/ (September 29, 2015)
amended on
February 11, 2016)
PT Pertamina Geothermal 11 Maret/ 360 bulan sejak COD PJBL/ESC Karaha,
Energy March 2011 (6 April 2018)/ Jawa Barat/
PT PLN (Persero) 360 months from COD West Java
(April 6, 2018)
Page 653
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/103 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
31. PERJANJIAN, KOMITMEN, DAN KONTINJENSI 31. SIGNIFICANT AGREEMENTS, COMMITMENTS
SIGNIFIKAN (lanjutan) AND CONTINGENCIES (continued)
a. Perjanjian-perjanjian (lanjutan) a. Agreements (continued)
Tanggal Kontrak/ Berakhirnya Kontrak/ Jenis Kontrak/ Lokasi/
Para Pihak/Parties Contract Date End of Contract Type of Contract Location
PT Pertamina Geothermal 11 Maret/ 360 bulan sejak unit terakhir PJBL Unit 1,2,3 Lumut Balai,
Energy March 2011 beroperasi/ dan 4/ Sumatera
PT PLN (Persero) 360 months from the ESC Units 1,2,3 Selatan/
commencement of and 4 South Sumatera
operation of the last unit
PT Pertamina Geothermal 11 Maret/ 360 bulan sejak unit terakhir PJBL Unit 5 dan Lahendong,
Energy March 2011 beroperasi (Unit VI) (9 6/ ESC Units 5 Sulawesi Utara/
PT PLN (Persero) (diubah pada tanggal Desember 2016)/ and 6 North Sulawesi
10 Agustus 360 months from the
2016/amended on commencement of
August 10, 2016) operation of the last unit
(Unit VI) (December 9,
2016)
PT Pertamina Geothermal 11 Maret/ 360 bulan sejak unit terakhir PJBL Unit 3 dan Ulubelu,
Energy March 2011 beroperasi (Unit IV) (25 4/ Lampung
PT PLN (Persero) Maret 2017)/ ESC Units 3 and
360 months from the 4
commencement of
operation of the last unit
(Unit IV) (March 25, 2017)
PT Pertamina Geothermal 10 November/ 29 Desember/ EPCC Unit 2 Lumut Balai,
Energy November 2022 December 2025 Sumatera
Mitsubishi Corporation Selatan/
PT Wijaya Karya South Sumatera
SEPCOIII Electric Power
Construction Co., Ltd
PT Pertamina Geothermal 4 Januari/ Akan terus berlaku sampai Shareholders Way Ratai,
Energy January 2024 diakhiri karena salah satu Agreement Lampung
Chevron New Energies dari keadaan-keadaan yg
Holdings Indonesia Ltd. disepakati dalam Perjanjian/
PT Cahaya Anagata Energy Will continue in effect until
terminated due to one of the
conditions agreed in the
Agreement
*) Mengacu surat PLN Nomor 76572/EPI.02.02/F01030000/2023, terdapat pemisahan tidak murni (spin-off) yang dilakukan oleh PLN
menyebabkan Perjanjian Uap PGE beralih karena hukum (aktiva dan pasiva) kepada PLN Indonesia Power sebagai Sub-Holding
penerima peralihan sejak tanggal 2 November 2023/referring to PLN Letter Number 76572/EPI.02.02/F01030000/2023, there has been a
partial spin-off conducted by PLN, resulting in the transfer of the PGE Steam Agreement by operation of law (assets and liabilities) to PLN
Indonesia Power as the receiving sub-holding entity, effective from November 2, 2023.
Page 654
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/104 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
31. PERJANJIAN, KOMITMEN, DAN KONTINJENSI 31. SIGNIFICANT AGREEMENTS, COMMITMENTS
SIGNIFIKAN (lanjutan) AND CONTINGENCIES (continued)
b. Perjanjian pinjaman dengan Pertamina b. Loan arrangements with Pertamina
Pada tanggal 9 November 2012, Perusahaan On November 9, 2012, the Company entered
menandatangani perjanjian pinjaman dengan into a loan arrangement with Pertamina. The
Pertamina. Perjanjian ini berlaku efektif per loan arrangement is effective from
tanggal 1 Januari 2012. Pinjaman ini diberikan January 1, 2012. The loans are provided to
untuk membiayai proyek-proyek Perusahaan, finance the Company’s capital projects, both
baik aktivitas eksplorasi dan pengembangan exploration and development projects.
proyek panas bumi.
Perjanjian pinjaman khusus Specific loan agreements
Perjanjian pinjaman khusus ini merupakan These specific loan agreements represent
pendanaan dari pihak ketiga yang digunakan funding from third parties which is used to
untuk membiayai proyek-proyek panas bumi support specific geothermal projects, whereby
tertentu dimana peminjam diwajibkan untuk the borrower is required to fulfill the covenants
memenuhi ketentuan-ketentuan yang telah set out in the agreements in exchange for the
dicantumkan dalam perjanjian tersebut sebagai low interest rates. These loan agreements are
pengganti suku bunga yang rendah. Perjanjian entered into under a Government-to-
pinjaman ini menggunakan skema Government Government scheme (“G to G”). The Indonesian
to Government (“G to G”). Pemerintah Indonesia Government makes the funding available to
akan meneruskan pendanaan tersebut kepada Pertamina, and Pertamina in turn makes this
Pertamina, dan Pertamina meneruskan funding available to the Company, with
pendanaan ini ke Perusahaan dimana Pertamina acting as the Executing Agency and
Pertamina sebagai Executing Agency dan the Company acting as the Implementing
Perusahaan sebagai Implementing Agency. Agency. These specific loan agreements
Perjanjian pinjaman khusus ini terdiri dari: comprise of:
Pendanaan oleh Japan International Japan International Cooperation Agency
Cooperation Agency (“JICA”) (“JICA”) Funding
Pemerintah Indonesia dan JICA telah The Indonesian Government (the Government)
menandatangani Perjanjian Pinjaman IP-557 and JICA have signed Loan Agreement IP-557
untuk pembiayaan atas Lumut Balai Geothermal for financing the Lumut Balai Geothermal Power
Power Plant Project dengan jumlah pendanaan Plant Project with a maximum facility of ¥26,966
maksimum sebesar ¥26.966 juta atau setara million, equivalent to US$179.539, available for
dengan US$179.539 untuk jangka waktu drawdown for a period of up to eight years from
penarikan selama delapan tahun sejak tanggal the effective date. The Government agreed to
efektif. Pemerintah telah menyetujui untuk make the funding from JICA available to
meneruskan pendanaan JICA kepada Pertamina, and Pertamina in turn makes such
Pertamina, dan Pertamina meneruskan funding available to the Company under
pendanaan ini ke Perusahaan melalui perjanjian agreement No.148/PGE000/2013-S0.
No.148/PGE000/2013-S0.
Pada tanggal 30 Oktober 2023, melalui surat ref. On 30 October 2023, through letter ref. no:
no: S-677/PR.2/2023, Pemerintah menyetujui S-677/PR.2/2023, the Government agreed the
amandemen batas waktu penarikan pinjaman amendment of the loan drawdown deadline of
Loan Agreement JICA IP-557 Lumut Balai JICA Loan Agreement IP-557 Lumut Balai
Geothermal Power Plant Project menjadi Geothermal Power Plant Project to be before
sebelum tanggal 31 Desember 2026. Kemudian December 31, 2026. After that, on 6 September
pada tanggal 6 September 2024, melalui surat 2024, through letter ref no. S-220/PB.4/2024, the
ref no. S-220/PB.4/2024 Pemerintah menyetujui Government agreed to the amendment of
Page 655
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/105 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
amandemen realokasi senilai ¥252.000.000 ke reallocating amount of ¥252,000,000 to
plafon layanan konsultan. consulting service tranche.
31. PERJANJIAN, KOMITMEN, DAN KONTINJENSI 31. SIGNIFICANT AGREEMENTS, COMMITMENTS
SIGNIFIKAN (lanjutan) AND CONTINGENCIES (continued)
b. Perjanjian pinjaman dengan Pertamina b. Loan arrangements with Pertamina
(lanjutan) (continued)
Perjanjian pinjaman khusus (lanjutan) Specific loan agreements (continued)
Pendanaan oleh Japan International Japan International Cooperation Agency
Cooperation Agency (“JICA”) (lanjutan) (“JICA”) Funding (continued)
Pelunasan pokok pinjaman akan dilakukan The repayments of the loan principal shall be
setiap setengah tahunan setiap tanggal settled on a semester basis on
20 April dan 20 Oktober untuk periode sebelum April 20 and October 20, in respect to amounts
tanggal terakhir penarikan pinjaman, dan setiap drawn drown before the end of the loan
tanggal 20 Maret dan 20 September untuk drawdown period, and on
periode setelah tanggal terakhir penarikan March 20 and September 20, effective after the
pinjaman. Pembayarannya disepakati untuk end of the loan drawdown period. It has been
dimulai dari tahun 2021 hingga tahun 2051. agreed that loan repayments will be made
Perusahaan wajib untuk membayar bunga atas starting in 2021 and ending in 2051. The
pokok pinjaman sebesar: Company is required to pay interest on the loan
principal as follows:
Atas kategori pekerjaan sipil dan pengadaan For civil engineering and procurement of
peralatan batas pinjaman sampai dengan equipment for drawdown amounts of
¥25.327 juta atau setara dengan ¥25,327 million, or equal to US$175,824,
US$175.824 dikenakan bunga sebesar interest applies at the rate of 0.3% p.a. plus
0,3% ditambah 0,3% per tahun. 0.3% p.a.
Atas kategori jasa konsultan batas pinjaman For consultation services for drawdown
sampai dengan ¥1.639 juta atau setara amounts up to ¥1,639 million, or equal to
dengan US$11.378 dikenakan bunga US$11,378, interest applies at the rate of
sebesar 0,01% ditambah 0,01% per tahun. 0.01% p.a. plus 0.01% p.a.
Perusahaan mulai menggunakan pinjaman The Company utilized the loan starting in March
tersebut sejak Maret 2012. Jumlah penggunaan 2012. The total loan facility drawn down as of
dana pinjaman tersebut pada tanggal 31 December 31, 2025, was ¥26,689 million or
Desember 2025 adalah sebesar ¥26.689 juta equivalent to US$171,610. The outstanding
atau setara dengan US$171.610. Jumlah amount as of December 31, 2025, was ¥22,268
pinjaman yang masih belum dibayarkan pada 31 million or equivalent to US$143,185.
Desember 2025 adalah sebesar ¥22.268 juta
atau setara dengan US$143.185.
Page 656
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/106 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
31. PERJANJIAN, KOMITMEN, DAN KONTINJENSI 31. SIGNIFICANT AGREEMENTS, COMMITMENTS
SIGNIFIKAN (lanjutan) AND CONTINGENCIES (continued)
b. Perjanjian pinjaman dengan Pertamina b. Loan arrangements with Pertamina
(lanjutan) (continued)
Perjanjian pinjaman khusus (lanjutan) Specific loan agreements (continued)
Pendanaan Bank Internasional untuk International Bank for Reconstruction and
Rekonstruksi dan Pembangunan (“IBRD”) Development (“IBRD”) Funding
Pemerintah Indonesia dengan IBRD telah The Indonesian Government (the Government)
menandatangani Perjanjian Pinjaman IBRD No. and the IBRD have signed Loan Agreement
8082-ID dengan total pendanaan sebesar IBRD No. 8082-ID involving total funding of
US$175.000 dan Perjanjian Pinjaman Clean US$175,000 and a Clean Technology Fund
Technology Fund (“CTF”) No. TF 10407-ID (“CTF”) Loan Agreement No. TF 10407-ID
dengan total pendanaan sebesar US$125.000. involving total funding of US$125,000. The loan
Jangka waktu penarikan pinjaman tersebut drawdown terms expire on December 31, 2019.
berakhir pada 31 Desember 2019.
Pemerintah telah menyetujui untuk meneruskan The Government agreed to make the funding
pendanaan dari IBRD kepada Pertamina, dan obtained from the IBRD to Pertamina, and
Pertamina meneruskan pendanaan ini ke Pertamina has in turn made such funding
Perusahaan melalui perjanjian No. available to the Company under agreement No.
149/PGE000/2013-S0 beserta adendum dan 149/PGE000/2013-S0 and its addendum and
No. 150/PGE000/2013-S0 beserta adendum. No. 150/PGE000/2013-S0 and its addendum.
Pendanaan tersebut dipergunakan dalam The funding is to be used for the financing of
rangka pembiayaan Geothermal Clean Energy Geothermal Clean Energy Investment Projects
Investment Project development untuk Ulubelu involving the development of the Ulubelu Units 3
Unit 3 dan 4 dan Lahendong Unit 5 dan 6. and 4 and Lahendong Units 5 and 6.
Pelunasan pokok pinjaman akan dilakukan The loan principal repayments shall be settled
setiap setengah tahunan setiap tanggal on a semester basis every April 10 and October
10 April dan 10 Oktober, dimana: 10, as follows:
Pelunasan atas pendanaan IBRD sebesar Repayments of the IBRD US$175,000
US$175.000 dimulai tanggal 10 Oktober funding facility are due to commence on
2020 sampai dengan 10 Oktober 2035. October 10, 2020, and end on
Beban bunga yang dikenakan atas October 10, 2035. Interest charged under
perjanjian pinjaman ini adalah Secured this financing arrangement shall be at the
Overnight Financing Rate (“SOFR”) Secured Overnight Financing Rate
ditambah variable spread ditambah 0,45% (“SOFR”) plus variable spread plus 0.45%
per tahun. p.a.
Pelunasan atas fasilitas pendanaan CTF Repayments of the CTF funding facility are
dimulai tanggal 10 Oktober 2021 sampai 10 due to commence on October 10, 2021, and
April 2051. Beban bunga yang dikenakan end on April 10, 2051. Interest charged
atas perjanjian pinjaman CTF adalah 0,25% under the CTF financing arrangement shall
per tahun ditambah 0,25% per tahun. be at the rate of 0.25% p.a. plus 0.25% p.a.
Page 657
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/107 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
31. PERJANJIAN, KOMITMEN, DAN KONTINJENSI 31. SIGNIFICANT AGREEMENTS, COMMITMENTS
SIGNIFIKAN (lanjutan) AND CONTINGENCIES (continued)
b. Perjanjian pinjaman dengan Pertamina b. Loan arrangements with Pertamina
(lanjutan) (continued)
Perjanjian pinjaman khusus (lanjutan) Specific loan agreements (continued)
Pendanaan Bank Internasional untuk International Bank for Reconstruction and
Rekonstruksi dan Pembangunan (“IBRD”) Development (“IBRD”) Funding (continued)
(lanjutan)
Perusahaan mulai menggunakan fasilitas The Company started to utilize the IBRD facility
pinjaman IBRD dan CTF pada bulan Oktober and the CTF loan facility in October 2014. The
2014. Total penggunaan dana pinjaman untuk total loan facilities drawdown as of December
tahun yang berakhir pada tanggal 31 Desember 31, 2025, were US$129,044 under the IBRD
2025 adalah sebesar US$129.044 untuk facility and US$124,311 under the CTF facility.
fasilitas IBRD dan US$124.311 untuk fasilitas The total outstanding loan as of December 31,
CTF. Jumlah pinjaman yang masih belum 2025, were US$94,073 under the IBRD facility
dibayarkan pada 31 Desember 2025 adalah and US$113,123 under the CTF facility.
US$94.073 untuk fasilitas IBRD dan
US$113.123 untuk fasilitas CTF.
c. Kontinjensi c. Contingencies
Pemulihan Lokasi Pasca Operasi Site Recovery After Operation
Dalam industri hulu minyak dan gas bumi, In the oil and gas industry, the contractors of the
kontraktor kontrak kerja sama mempunyai cooperative contract have a legal obligation to
kewajiban hukum untuk mencadangkan dana make provision related to post-operation
terkait kegiatan pemulihan pasca operasi recovery (Abandonment Site Restoration
(Abandonment Site Restoration (“ASR”)) yang (“ASR”)) also known as restoration
disebut dengan kewajiban restorasi/pemulihan obligation/recovery of operating area, which
area operasi, yang diantaranya terdiri dari consists of demolition, displacement, as well as
kegiatan pembongkaran, pemindahan, serta site restoration at the end of the contract.
pemulihan lokasi saat berakhirnya kontrak
kerjasama.
Berdasarkan UU No. 21 Tahun 2014, UU No. 11 Based on Law no. 21 of 2014, Law No. 11 of
Tahun 2020, PP No. 22 Tahun 2021 serta PP 2020, Government regulation No. 22 of 2021 and
No. 25 Tahun 2021, Perusahaan mempunyai Government regulation No. 25 of 2021, the
kewajiban untuk melakukan pemulihan Company has an obligation to perform site
lingkungan (site restoration) pada saat Izin restoration when the Geothermal Permit expires
Panas Bumi berakhir atau dikembalikan. Selain or is returned. Furthermore, the Company is
itu, Perusahaan diwajibkan untuk required to reserve site restoration fund.
mencadangkan dana pemulihan lingkungan.
Page 658
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/108 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
31. PERJANJIAN, KOMITMEN, DAN KONTINJENSI 31. SIGNIFICANT AGREEMENTS, COMMITMENTS
SIGNIFIKAN (lanjutan) AND CONTINGENCIES (continued)
c. Kontinjensi (lanjutan) c. Contingencies (continued)
Pemulihan Lokasi Pasca Operasi (lanjutan) Site Recovery After Operation (continued)
Namun, dengan mempertimbangkan bahwa However, considering that up to date there is no
sampai saat ini belum terdapat peraturan law regulating the deposit mechanisms,
perundang-undangan yang mengatur calculation, as well as the amount stipulation of
mekanisme penyetoran, tata cara perhitungan the ASR for the Geothermal Permit holder,
serta penetapan besaran dana yang mengatur therefore, management believe that there is no
ASR tersebut pada pemegang izin panas bumi, provision for ASR.
maka manajemen meyakini bahwa tidak
terdapat provisi yang dicadangkan atas
kewajiban ASR tersebut.
Atas pengembalian wilayah kerja Gunung Lawu, Upon the return the Gunung Lawu working area,
kegiatan yang dilakukan di wilayah kerja the activities done in the working area are still in
tersebut sejauh ini masih berupa kajian arkelogi the form of archaeological and sociological
dan sosiologi, serta belum diperolehnya izin studies, and no permit has been obtained,
termasuk izin lingkungan. Dengan demikian, including environmental permit. Thus, in Gunung
pada wilayah kerja Gunung Lawu, belum Lawu working area, there is no exploration
terdapat kegiatan eksplorasi yang dapat activity yet, which have an impact on
menimbulkan dampak terhadap lingkungan. environment. Therefore, management believes
Oleh karena itu, manajemen meyakini bahwa that there is no environmental recovery
tidak terdapat potensi kewajiban pemulihan obligation in Gunung Lawu working are since the
lingkungan pada proyek wilayah kerja Gunung physical exploration activity has not been done.
Lawu karena kegiatan fisik eksplorasi sampai
saat ini belum dilaksanakan.
Penyerahan Jaringan Transmisi PLTP Karaha Karaha PLTP Unit 1 Transmission Network
Unit 1 Handover
Sesuai dengan Perjanjian Jual Beli Tenaga Following the Power Purchase Agreement for
Listrik untuk PLTP Karaha Antara Perusahaan the Karaha Geothermal Power Plant between
dan PLN No. 199c/PGE000/2011-S0/127 - the Company and PLN No. 199c/PGE000/2011-
PJ/040/DIR/2011, tanggal 11 Maret 2011, pada S0/127 - PJ/040/DIR/2011, dated March 11,
Pasal 4.2.1 disampaikan bahwa Perusahaan 2011, Article 4.2.1 stipulates that the Group as
sebagai Penjual wajib membiayai dan the Seller, is obligated to finance and construct
membangun jaringan transmisi. Selanjutnya the transmission network. Subsequently, the
Perusahaan akan menyerahkan jaringan Company will deliver that transmission network
transmisi tersebut beserta tanah untuk tapak and the land for tower placement to PLN no later
tower kepada PLN selambat-lambatnya 30 (tiga than 30 (thirty) days after the commercial
puluh) hari setelah tanggal operasi komersial. operation date.
Pada tanggal 25 Juli 2024, telah dilakukan Joint On July 25, 2024, a Joint Committee Meeting
Committee Meeting (“JCM”) untuk membahas (“JCM”) was held to discuss accelerating the
percepatan serah terima transmisi ke PLN. handover of transmission to PLN.
Pada tanggal 9 Desember 2024, dalam On December 9, 2024, during the Follow-Up
Pembahasan Tindak Lanjut Rencana Serah Discussion on the Handover Plan for Special
Terima Aset Special Facilities Independent Facilities Assets of Independent Power
Power Producer (“IPP”) PLTP Karaha 1x30 MW, Producer (“IPP”) PLTP Karaha 1x30 MW, it was
disampaikan bahwa progres pengurusan conveyed that the certification process for tower
sertifikasi lahan tower masuk tahap pengurusan land had entered the technical preparation stage
persiapan teknis untuk 49 lahan. for 49 plots.
Page 659
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/109 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
31. PERJANJIAN, KOMITMEN, DAN KONTINJENSI 31. SIGNIFICANT AGREEMENTS, COMMITMENTS
SIGNIFIKAN (lanjutan) AND CONTINGENCIES (continued)
c. Kontinjensi (lanjutan) c. Contingencies (continued)
Penyerahan Jaringan Transmisi PLTP Karaha Karaha PLTP Unit 1 Transmission Network
Unit 1 (lanjutan) Handover Site Recovery After Operation
(continued)
Pada tanggal 24-25 Juni 2025, telah dilakukan On June 24-25, 2025, a Joint Committee
Joint Committee Meeting (“JCM”) untuk Meeting (“JCM”) was held to discuss
membahas kembali percepatan serah terima accelerating the handover of transmission to
transmisi ke PLN. Progress serah terima PLN once again. The handover of transmission
transmisi saat ini sedang dilaksanakan proses progress is currently in process with tower land
sertifikasi lahan tower dan pengajuan penilaian certification and the submission of assessment
terkait IPPKH transmisi untuk 8 tapak. related to transmission IPPKH for 8 plots.
32. INFORMASI SEGMEN 32. SEGMENT INFORMATION
Grup mengklasifikasikan dan mengevaluasi The Group classifies and evaluates its financial
informasi keuangan mereka menjadi pelaporan information into reportable operating segments
segmen usaha yang dikelompokkan menjadi dua (2) which are grouped into two (2) operational activities
kegiatan operasional dan pelaporan segmen and into reportable geographic segment which are
geografis yang dikelompokkan menjadi enam (6) grouped into six (6) location:
lokasi:
a) Segmen Usaha a) Operating Segment
Grup bergerak di kegiatan operasional sebagai The Group is engaged in the following
berikut: operational activities:
i. Operasi sendiri i. Own operations
ii. Kontrak Operasi Bersama dengan PLN ii. Joint Operating Contracts with PLN
Segmen penjualan KOB ke PLN memiliki aset JOC sales to PLN segment have identifiable
yang dapat dialokasikan berupa piutang usaha. assets in the form of account receivables.
Sedangkan untuk liabilitas yang dapat Whereas the identifiable liabilities are in the form
diatribusikan berupa utang usaha. Aset lainnya of account payables. The other assets and other
dan liabilitas lainnya seperti kas dan pinjaman liabilities such as cash and loan are managed
dikelola secara terpusat melalui kantor pusat. centrally through head office.
b) Segmen Geografis b) Geographic Segment
Ringkasan berikut ini menggambarkan segmen The following summary describes the operating
operasi berdasarkan lokasi geografis dimana segments based on the geographical location
Grup melakukan kegiatan operasional: where the Group conducts operations:
i. Kamojang i. Kamojang
ii. Lahendong ii. Lahendong
iii. Ulubelu iii. Ulubelu
iv. Karaha iv. Karaha
v. Lumut Balai v. Lumut Balai
vi. Segmen lain vi. Other segments
Informasi mengenai segmen yang dilaporkan Information about reportable segments and
dan rekonsiliasi antara ukuran segmen dengan reconciliation between segment measures and
jumlah yang diakui dalam laporan keuangan the amounts recognized in the consolidated
konsolidasian adalah sebagai berikut: financial statements are as follows:
Page 660
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/110 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
32. INFORMASI SEGMEN (lanjutan) 32. SEGMENT INFORMATION (continued)
b) Segmen Geografis (lanjutan) b) Geographic Segment (continued)
31 Desember/December 31, 2025
Segmen Lain/
Lumut Other
Kamojang Lahendong Ulubelu Karaha Balai Segment Total
Pendapatan usaha 155.671 83.262 121.114 10.554 62.125 - 432.726 Revenue
Beban pokok pendapatan Cost of revenue
dan biaya langsung lainnya (37.148) (40.199) (58.936) (19.960) (42.692) (727) (199.662) and other direct cost
Laba bruto 118.523 43.063 62.178 (9.406) 19.433 (727) 233.064 Gross profit
General and administrative
Beban umum dan administrasi (10.582) (5.262) (7.724) (637) (6.479) - (30.684) expenses
Pendapatan Other
lain-lain, bersih 1.149 613 893 78 458 - 3.191 income, net
Laba usaha 109.090 38.414 55.347 (9.965) 13.412 (727) 205.571 Operating profit
Pendapatan keuangan 10.152 5.430 7.899 688 4.052 - 28.221 Finance income
Laba selisih kurs, bersih (2.747) (1.468) (2.137) (186) (1.096) - (7.634) Foreign exchange gain, net
Bagian laba dari ventura bersama 14 8 11 1 6 - 40 Share of profit in joint ventures
Beban keuangan (3.714) (3.687) (12.509) (2.406) (7.968) - (30.284) Finance cost
Laba/(rugi) sebelum Profit/(loss) before income
beban pajak penghasilan 112.795 38.697 48.611 (11.868) 8.406 (727) 195.914 tax expense
Beban pajak penghasilan (32.154) (10.767) (13.378) - (1.948) - (58.247) Income tax expense
Laba/(rugi) tahun berjalan 80.641 27.930 35.233 (11.868) 6.458 (727) 137.667 Profit/(loss) for the year
Informasi lain Other informations
Aset segmen 174.244 273.189 445.376 167.599 631.384 576.475 2.268.267 Segment’s assets
Aset yang tidak dapat dialokasikan - - - - - - 766.184 Unallocated assets
Total aset konsolidasian - - - - - - 3.034.451 Total consolidated assets
Liabilitas segmen 34.124 39.691 77.632 44.627 495.519 254.538 946.131 Segment’s liabilities
Liabilitas yang tidak dapat dialokasikan - - - - - - 42.757 Unallocated liabilities
Total liabilitas konsolidasian - - - - - - 988.888 Total consolidated liabilities
Beban penyusutan (15.548) (24.479) (41.122) (14.216) (31.561) - (126.926) Depreciation expense
Penambahan aset tetap 10.335 5.953 21.273 11.848 37.230 15.143 101.782 Fixed asset additions
31 Desember/December 31, 2024
Segmen Lain/
Lumut Other
Kamojang Lahendong Ulubelu Karaha Balai Segment Total
Pendapatan usaha 154.041 83.187 119.012 9.054 41.826 - 407.120 Revenue
Beban pokok pendapatan Cost of revenue
dan biaya langsung lainnya (31.374) (36.111) (52.283) (16.591) (29.679) (683) (166.721) and other direct cost
Laba bruto 122.667 47.076 66.729 (7.537) 12.147 (683) 240.399 Gross profit
General and administrative
Beban umum dan administrasi (11.250) (5.937) (8.646) (823) (2.992) (23) (29.671) expenses
Pendapatan Other
lain-lain, bersih (173) (93) (134) 10 (47) - (457) income, net
Laba usaha 111.244 41.046 57.949 (8.370) 9.108 (706) 210.271 Operating profit
Pendapatan keuangan 12.700 6.858 9.812 746 3.449 - 33.565 Finance income
Laba selisih kurs, bersih 6.048 3.266 4.673 355 1.642 - 15.984 Foreign exchange gain, net
Bagian laba dari ventura bersama - - - - - 453 453 Share of profit in joint ventures
Beban keuangan (4.508) (4.207) (14.665) (2.500) (6.234) - (32.114) Finance cost
Laba/(rugi) sebelum Profit/(loss) before income
beban pajak penghasilan 125.484 46.963 57.769 (9.769) 7.965 (253) 228.159 tax expense
Beban pajak penghasilan (36.167) (13.344) (16.290) - (2.056) - (67.857) Income tax expense
Laba/(rugi) tahun berjalan 89.317 33.619 41.479 (9.769) 5.909 (253) 160.302 Profit/(loss) for the year
Informasi lain Other informations
Aset segmen 177.393 298.147 463.555 171.398 615.581 572.447 2.298.521 Segment’s assets
Aset yang tidak dapat dialokasikan - - - - - - 698.881 Unallocated assets
Total aset konsolidasian - - - - - - 2.997.402 Total consolidated assets
Liabilitas segmen 26.255 115.979 226.766 41.511 295.776 246.009 952.296 Segment’s liabilities
Liabilitas yang tidak dapat dialokasikan - - - - - - 36.354 Unallocated liabilities
Total liabilitas konsolidasian - - - - - - 988.650 Total consolidated liabilities
Beban penyusutan (15.607) (24.769) (39.165) (12.590) (21.202) - (113.333) Depreciation expense
Penambahan aset tetap 22.203 27.585 23.317 13.041 106.504 2.762 195.412 Fixed asset additions
Page 661
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/111 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
32. INFORMASI SEGMEN (lanjutan) 32. SEGMENT INFORMATION (continued)
b) Segmen Geografis (lanjutan) b) Geographic Segment (continued)
Segmen Kamojang, Lahendong, Ulubelu, Kamojang, Lahendong, Ulubelu, Karaha, Lumut
Karaha, Lumut Balai dan Segmen lain memiliki Balai and Other segment have identifiable
aset yang dapat dialokasikan berupa: aset tetap, assets in the form of: fixed assets, inventories,
persediaan dan piutang usaha. Sedangkan and account receivables. Whereas, the
untuk liabilitas yang dapat diatribusikan berupa identifiable liabilities are in the form of account
utang usaha dan beban yang masih harus payables and accrued expenses. The other
dibayar. Aset lainnya dan liabilitas lainnya assets and other liabilities such as cash and loan
seperti kas dan pinjaman dikelola secara are managed centrally through head office.
terpusat melalui kantor pusat.
Untuk wilayah kerja panas bumi yang belum For geothermal working area that are not yet
beroperasi, yaitu Hululais, Bukit Daun, Sungai operated, namely Hululais, Bukit Daun, Sungai
Penuh, Kotamobagu, dan Seulawah, aset Penuh, Kotamobagu, and Seulawah, the
segmennya disajikan sebagai bagian dari segment’s assets are reported as parts of other
segmen lain. segment.
Tidak terdapat transaksi antar segmen pada There are no inter-segment transactions in the
segmen operasi Grup. Group's operating segments.
Untuk wilayah kerja panas bumi yang dihentikan For the discontinued geothermal working area
operasinya yaitu Sibayak disajikan sebagai namely Sibayak, it is reported as a part of other
bagian dari segmen lain. segments.
33. ASET DAN LIABILITAS KEUANGAN DALAM 33. FINANCIAL ASSETS AND LIABILITIES IN
MATA UANG ASING FOREIGN CURRENCIES
Grup memiliki aset dan liabilitas dalam mata uang The Group has assets and liabilities denominated in
asing dengan rincian sebagai berikut (dalam satuan foreign currencies as follows (in full amounts):
penuh):
31 Desember/December 31, 2025
Rupiah Yen Euro Pound USD
Aset keuangan Financial assets
Kas dan setara kas 440.036.074.173 - 849 - 692.180.384 Cash and cash equivalents
Kas yang
dibatasi penggunaannya 8.180.334.404 - - - - Restricted cash
Piutang usaha Trade receivables
- Pihak yang berelasi - - - - 122.757.223 Related parties -
- Pihak ketiga - - - - 3.471.767 Third parties -
Piutang lain-lain Other receivables
- Pihak yang berelasi 162.031.124.633 - - - 2.294.633 Related parties -
- Pihak ketiga 445.616.758 - - - 110.274 Third parties -
Aset keuangan yang dinilai
pada nilai wajar melalui Financial assets at
penghasilan komprehensif fair value through other
lain 48.000.000 - - - 29.759.832 comprehensive income
610.741.149.968 - 849 - 850.574.113
Liabilitas keuangan Financial liabilities
Utang usaha Trade payables
- Pihak yang berelasi (24.185.645.282) - - - (721.265) Related parties -
- Pihak ketiga (62.269.818.324) (1.904.500) (49.357) - (82.566.866) Third parties -
Utang lain-lain Other payables
- Pihak yang berelasi (120.597.092.991) - - - (62.372) Related parties –
- Pihak ketiga - - - - (2.055.806) Third parties -
Utang Obligasi - - - - (399.050.247) Bonds Payable
Pinjaman jangka panjang Long-term loans
- Pihak yang berelasi - (22.268.289.249) - - (207.196.510) Related party -
Biaya yang masih
harus dibayar (766.857.266.306) (192.775.822) (170.874) - (18.846.835) Accrued expenses
Liabilitas sewa (57.639.962.864) - - - - Lease Liabilities
(1.031.549.785.767) (22.462.969.571) (220.231) - (710.499.901)
Aset/(liabilitas) neto (420.808.635.799) (22.462.969.571) (219.382) - 140.074.212 Net asset/(liabilities)
Page 662
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/112 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
33. ASET DAN LIABILITAS KEUANGAN DALAM 33. FINANCIAL ASSETS AND LIABILITIES IN
MATA UANG ASING (lanjutan) FOREIGN CURRENCIES (continued)
31 Desember/December 31, 2024
Rupiah Yen Euro Pound USD
Aset keuangan Financial assets
Kas dan setara kas 164.557.518.892 - 706.884 - 644.269.252 Cash and cash equivalents
Kas yang
dibatasi penggunaannya 6.776.397.851 - - - - Restricted cash
Piutang usaha Trade receivables
- Pihak yang berelasi - - - - 124.626.524 Related parties -
- Pihak ketiga - - - - 3.498.414 Third parties -
Piutang lain-lain Other receivables
- Pihak yang berelasi 143.722.023.939 - - - 2.674.730 Related parties -
- Pihak ketiga 1.590.236.666 - - - - Third parties -
Aset keuangan yang dinilai
pada nilai wajar melalui Financial assets at
penghasilan komprehensif fair value through other
lain 48.000.000 - - - 21.711.291 comprehensive income
316.694.177.348 - 706.884 - 796.780.211
Liabilitas keuangan Financial liabilities
Utang usaha Trade payables
- Pihak yang berelasi (35.800.867.042) - - - (18.166) Related parties -
- Pihak ketiga (155.451.791.956) (944.307.010) (192.826) - (78.756.217) Third parties -
Utang lain-lain Other payables
- Pihak yang berelasi (126.923.211.711) - - - (2.281.247) Related parties -
Utang Obligasi - - - - (398.643.210) Bonds Payable
Pinjaman jangka panjang Long-term loans
- Pihak yang berelasi - (18.380.903.724) - - (226.767.274) Related party -
Biaya yang masih
harus dibayar (810.044.308.054) (1.628.761.739) (46.794) - (27.548.995) Accrued expenses
Liabilitas sewa (63.824.075.666) - - - - Lease Liabilities
(1.192.044.254.429) (20.953.972.473) (239.620) - (734.015.109)
Aset/(liabilitas) neto (875.350.077.081) (20.953.972.473) 467.264 - 62.765.102 Net asset/(liabilities)
34. PERUBAHAN LIABILITAS YANG TIMBUL DARI 34. CHANGES IN LIABILITIES ARISING FROM
AKTIVITAS PENDANAAN FINANCING ACTIVITIES
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Utang Obligasi Bonds Payable
Saldo awal 398.643 398.236 Beginning balance
Perubahan non-kas: Non-cash changes:
- Beban transaksi yang ditangguhkan Deferred transaction costs -
dikurangi akumulasi amortisasi 407 407 amortization net of accumulated
Saldo akhir (Catatan 16) 399.050 398.643 Ending balance (Note 16)
Page 663
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/113 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
34. PERUBAHAN LIABILITAS YANG TIMBUL DARI 34. CHANGES IN LIABILITIES ARISING FROM
AKTIVITAS PENDANAAN (lanjutan) FINANCING ACTIVITIES (continued)
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Pinjaman jangka Panjang Long-term loans
Saldo awal 343.219 330.583 Beginning balance
Arus kas: Cash flow:
- Pinjaman khusus (25.256) (14.824) Specific loan -
Perubahan non-kas: Non-cash changes:
- Pinjaman khusus 30.681 37.646 Specific loan -
- Selisih kurs 1.737 (10.186) Foreign exchange -
Saldo akhir (Catatan 26j) 350.381 343.219 Ending balance (Note 26j)
35. AKTIVITAS YANG TIDAK MEMPENGARUHI 35. ACTIVITIES NOT AFFECTING CASH FLOWS
ARUS KAS
31 Desember/ 31 Desember/
December 31, December 31,
2025 2024
Penambahan aset Geothermal property
panas bumi yang berasal dari additions resulting from
- Pinjaman khusus 30.681 37.646 Specific loan -
- Kapitalisasi biaya Capitalization of -
bunga pinjaman 1.864 3.495 borrowing costs
Transaksi non kas lainnya adalah perolehan aset The other non-cash transaction is acquisition of
berupa kendaraan dan gedung melalui mekanisme assets which are vehicles and building through lease
sewa sebagaimana yang telah dijabarkan dalam mechanism as discussed in Note 10.
Catatan 10.
Page 664
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/114 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
36. STANDAR AKUNTANSI YANG TELAH 36. ACCOUNTING STANDARDS ISSUED BUT NOT
DITERBITKAN NAMUN BELUM BERLAKU YET EFFECTIVE
EFEKTIF
Standar akuntansi yang telah diterbitkan sampai The accounting standards that have been issued up
tanggal penerbitan laporan keuangan konsolidasian to the date of issuance of the Group’s consolidated
Grup namun belum berlaku efektif, diungkapkan di financial statements, but not yet effective, are
bawah ini. Manajemen bermaksud untuk disclosed below. The management intends to adopt
menerapkan standar-standar tersebut yang these standards that are considered relevant to the
dipertimbangkan relevan terhadap Grup pada saat Group when they become effective, and the impact to
efektif, dan dampaknya terhadap posisi dan kinerja the consolidated financial position and performance
keuangan konsolidasian Grup masih dievaluasi pada of the Group is still being evaluated as of March 6,
tanggal 6 Maret 2026: 2026:
Mulai efektif pada atau setelah tanggal 1 Januari Effective beginning on or after January 1, 2026
2026
PSAK 109: Instrumen Keuangan dan PSAK 107 PSAK 109: Financial Instruments and PSAK 107
Instrumen Keuangan: Pengungkapan tentang Financial Instruments: Disclosures about the
Klasifikasi dan Pengukuran Instrumen Keuangan Classification and Measurement of Financial
Instruments
Amendemen ini menambahkan dan mengklarifikasi These amendments add and clarify provisions in
ketentuan dalam PSAK 109 terkait penghentian PSAK 109 related to the derecognition of financial
pengakuan liabilitas keuangan, serta mengklarifikasi liabilities and clarify the assessment of cash flow
penilaian karakteristik arus kas untuk aset keuangan characteristics for ESG-linked financial assets,
dengan fitur ESG-linked, aset keuangan dengan fitur financial assets with non-recourse features, and
non-recourse, dan instrumen yang terikat secara contractually bound instruments such as tranches.
kontraktual seperti tranche. Amendemen ini juga These amendments also change the provisions in
mengubah ketentuan dalam PSAK 107 terkait PSAK 107 related to disclosure requirements for
persyaratan pengungkapan investasi pada instrumen investments in equity instruments measured at fair
ekuitas yang diukur pada nilai wajar melalui value through other comprehensive income and add
penghasilan komprehensif lain dan menambah provisions related to financial instruments with
ketentuan terkait instrumen keuangan dengan contractual terms that change the timing or amount
persyaratan kontraktual yang mengubah waktu atau of contractual cash flows.
jumlah arus kas kontraktual.
Mulai efektif pada atau setelah tanggal 1 Januari Effective beginning on or after January 1, 2027
2027
PSAK 118: Penyajian dan Pengungkapan dalam PSAK 118: Presentation and Disclosure in Financial
Laporan Keuangan Statements
Amendemen ini mensyaratkan perubahan This amendment primarily requires changes to the
terutamanya pada penyajian subtotal laba (rugi) presentation of subtotals for operating profit (loss),
operasi, laba (rugi) sebelum pendanaan dan pajak profit (loss) before financing and income tax, and
penghasilan, serta laba (rugi). Amandemen ini juga profit (loss). The amendment also revises the
mengubah penghasilan dan beban untuk classification of income and expenses into operating,
diklasifikasikan ke dalam kategori operasi, investasi, investing, financing, as well as income taxes and
dan pendanaan, serta pajak penghasilan dan operasi discontinued operations categories. These changes
yang dihentikan. Perubahan ini mengakibatkan result in a more consistent income statement
struktur laporan laba rugi yang lebih konsisten dan structure and enhance comparability across
meningkatkan komparabilitas antar perusahaan. companies.
Page 665
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/115 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
37. REKLASIFIKASI AKUN 37. RECLASSIFICATION OF ACCOUNTS
Grup melakukan reklasifikasi akun pada laporan laba Group has reclassified accounts in the consolidated
rugi dan penghasilan komprehensif lain statement of profit or loss and other comprehensive
konsolidasian atas beban pokok pendapatan dan income related to cost of revenue, other direct
beban langsung lainnya dan beban umum dan expenses, and general and administrative expenses
administrasi (Catatan 21, 22, 32b) untuk periode (Notes 21, 22, 32b) for the period ended December 31,
yang berakhir 31 Desember 2024. Selain itu Grup 2024. In addition, Group has also reclassified
juga melakukan reklasifikasi pada laporan posisi accounts in the statement of financial position related
keuangan atas kas yang dibatasi penggunaannya to restricted cash and other assets, net for the year
dan aset lain-lain bersih untuk tahun yang berakhir ended December 31, 2024. These reclassifications
31 Desember 2024. Reklasifikasi ini dilakukan agar were made to conform with the presentation of the
sesuai dengan penyajian laporan keuangan consolidated financial statements for the period ended
konsolidasian untuk periode yang berakhir 31 December 31, 2025.
Desember 2025.
Sebelum Setelah
reklasifikasi/ reklasifikasi/
before Reklasifikasi/ after
reclassification reclassification reclassification
31 Desember 2024 December 31, 2024
Laporan Laba Rugi dan Consolidated Statements
Penghasilan Komprehensif of Profit or Loss and Other
Lain Konsolidasian Comprehensive Income
Pendapatan 407.120 - 407.120 Revenue
Beban pokok pendapatan Cost of revenue
dan beban langsung lainnya (164.885) (1.836) (166.721) and other direct cost
Laba Bruto 242.235 - 240.399 Gross Profit
General and
Beban umum dan administrasi (31.507) 1.836 (29.671) administrative expenses
Pendapatan/(beban) lain-lain, bersih (457) - (457) Other income/(expense), net
Laba Usaha 210.271 - 210.271 Operating Profit
Pendapatan keuangan 33.565 - 33.565 Finance income
Laba selisih kurs 15.984 - 15.984 Gain foreign exchange
Bagian laba dari ventura bersama 453 - 453 Share of profit in joint venture
Beban keuangan (32.114) - (32.114) Finance costs
Laba sebelum Beban Profit Before
Pajak Penghasilan 228.159 - 228.159 Income Tax Expense
31 Desember 2024 December 31, 2024
Laporan Posisi Keuangan Consolidated Statement
Konsolidasian of Financial Position
Aset Lancar Current Assets
Kas yang dibatasi
penggunaannya 123 114 237 Restricted cash
Aset lain-lain, bersih 5.194 (114) 5.080 Other assets, net
Page 666
The original consolidated financial statements included herein
are in the Indonesian language.
PT PERTAMINA GEOTHERMAL ENERGY TBK
DAN ENTITAS ANAKNYA / AND ITS SUBSIDIARIES
Lampiran 5/116 Schedule
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED
KONSOLIDASIAN TANGGAL 31 DESEMBER 2025 FINANCIAL STATEMENTS
DAN UNTUK TAHUN YANG BERAKHIR PADA AS OF DECEMBER 31, 2025 AND
TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
(Disajikan dalam ribuan dolar Amerika Serikat, (Expressed in thousands of United States dollar
kecuali dinyatakan lain) unless otherwise stated)
38. PERISTIWA SETELAH PERIODE PELAPORAN 38. EVENTS AFTER THE REPORTING PERIOD
Penetapan Perusahaan sebagai Pelaksana PSPE Appointment of the Company as a Candidate for
Panas Bumi the Geothermal PSPE Assignment
Pada tanggal 9 Januari 2026, Panitia Penugasan On January 9, 2026, the Committee for the
Survei Pendahuluan dan Eksplorasi (PSPE) Panas Preliminary Survey and Exploration Assignment
Bumi menyampaikan pengumuman melalui Surat (PSPE) for Geothermal issued an announcement
Direktorat Jenderal Energi Baru, Terbarukan, dan through a letter from the Directorate General of New,
Konservasi Energi Nomor 4.Pm/EK.04/DEP/2026 Renewable Energy and Energy Conservation No.
perihal Pengumuman Calon Pelaksana Penugasan 4.Pm/EK.04/DEP/2026 regarding the Announcement
Survei Pendahuluan dan Eksplorasi Panas Bumi di of Prospective Implementers for the Geothermal
Daerah Cubadak Panti, Kabupaten Pasaman dan Preliminary Survey and Exploration Assignment in
Kabupaten Pasaman Barat, Provinsi Sumatera the Cubadak Panti Area, Pasaman Regency and
Barat. Berdasarkan pengumuman tersebut, West Pasaman Regency, West Sumatra Province.
Perusahaan ditetapkan sebagai pelaksana PSPE Based on the announcement, the Company was
Panas Bumi untuk wilayah dimaksud. designated as a candidate for the implementation of
the PSPE Geothermal Project in the relevant area.
Perubahan Susunan Dewan Direksi Changes of Board of Directors
Berdasarkan pernyataan keputusan para pemegang Based on the resolution of the Company’s
saham Perusahaan pada tanggal 20 Januari 2026, shareholders dated January 20, 2026, the
para pemegang saham menyetujui perubahaan shareholders approved the changes in the
susunan Dewan Direksi sebagai berikut: composition of the Board of Directors as follows:
Dewan Direksi: Board of Directors:
Direktur Utama Ahmad Yani President Director
Direktur Operasi Andi Joko Nugroho Operations Director
Direktur Eksplorasi Exploration and
dan Pengembangan Edwil Suzandi Development Director
Direktur Keuangan Yurizki Rio Finance Director
Page 667
Referensi SEOJK
Nomor 16/SEOJK.04/2021: Laporan Tahunan Emiten atau Perusahaan Publik
SEOJK No. 16/SEOJK.04/2021: Annual Report of Public Company
Halaman
No Keterangan Description
Page
I. Ketentuan Umum I. General Provision
1. Dalam Surat Edaran Otoritas Jasa Keuangan ini yang 1. In this Financial Services Authority Circular Letter what
dimaksud dengan: is meant by:
a. Laporan Tahunan adalah laporan a. The Annual Report is a report on the Board
pertanggungjawaban Direksi dan Dewan of Directors and Board of Commissioners
Komisaris dalam melakukan pengurusan dan accountability in managing and supervising
pengawasan terhadap emiten atau perusahaan issuers or public companies within a period of
publik dalam kurun waktu 1 (satu) tahun buku √ 1 (one) fiscal year to the general meeting of
kepada rapat umum pemegang saham yang shareholders prepared based on the provisions
disusun berdasarkan ketentuan dalam Peraturan of the Financial Services Authority Regulation
Otoritas Jasa Keuangan mengenai Laporan concerning the Annual Report of issuers or
Tahunan emiten atau perusahaan publik. public companies
b. Emiten adalah pihak yang melakukan penawaran b. Issuers are parties who make public offerings
√
umum.
c. Perusahaan Publik adalah perseroan yang c. A Public Company is a company whose shares
sahamnya telah dimiliki paling sedikit oleh 300 are owned by at least 300 (three hundred)
(tiga ratus) pemegang saham dan memiliki modal shareholders and has a paid-up capital of at least
disetor paling sedikit Rp3.000.000.000,00 (tiga √ Rp3,000,000,000.00 (three billion rupiah) or a
miliar rupiah) atau suatu jumlah pemegang number of shareholders and paid-up capital as
saham dan modal disetor yang ditetapkan oleh determined by the Financial Services Authority
Otoritas Jasa Keuangan.
d. Perusahaan Terbuka adalah Emiten yang telah d. A Public Company is an Issuer that has made a
melakukan penawaran umum efek bersifat √ public offering of equity securities or a Publically-
ekuitas atau Perusahaan Publik. listed Company
e. Laporan Keberlanjutan (Sustainability Report) e. A Sustainability Report is a report published to
adalah laporan yang diumumkan kepada the public that contains the economic, financial,
masyarakat yang memuat kinerja ekonomi, social, and environmental performance of a
√
keuangan, sosial, dan lingkungan hidup suatu financial service institution, Issuer, and Public
lembaga jasa keuangan, Emiten, dan Perusahaan Company in running a sustainable business
Publik dalam menjalankan bisnis berkelanjutan.
f Direksi: f Board of Directors:
1) bagi Emiten atau Perusahaan Publik 1) For an Issuer or a Public Company in the
berbentuk badan hukum perseroan terbatas form of a limited liability company, it is
adalah Direksi sebagaimana dimaksud the Board of Directors as referred to in the
dalam Peraturan Otoritas Jasa Keuangan √ Financial Services Authority Regulation
mengenai Direksi dan Dewan Komisaris concerning the Board of Directors and
Emiten atau Perusahaan Publik; dan Board of Commissioners of an Issuer or
Public Company; and
2) bagi Emiten atau Perusahaan Publik 2) For an Issuer or a Public Company in the
berbentuk badan hukum selain perseroan form of a legal entity other than a limited
terbatas adalah organ yang melaksanakan liability company, it is the body that carries
pengurusan badan hukum tersebut √ out the management of the legal entity as
sebagaimana dimaksud dalam peraturan referred to in the laws and regulations
perundang- undangan mengenai badan concerning the legal entity.
hukum tersebut.
Page 668
Halaman
No Keterangan Description
Page
g. Dewan Komisaris: g. Board of Commissioners:
1) bagi Emiten atau Perusahaan Publik 1) For an Issuer or a Public Company in the
berbentuk badan hukum perseroan terbatas form of a limited liability company, the
adalah Dewan Komisaris sebagaimana Board of Commissioners as referred to in
dimaksud dalam Peraturan Otoritas Jasa √ the Financial Services Authority Regulation
Keuangan mengenai Direksi dan Dewan concerning the Board of Directors and
Komisaris Emiten atau Perusahaan Publik; Board of Commissioners of an Issuer or
dan Public Company; and
2) bagi Emiten atau Perusahaan Publik 2) For the Issuer or Public Company in the form
berbentuk badan hukum selain perseroan of a legal entity other than a limited liability
terbatas adalah organ yang melakukan company, it is the body that supervises the
pengawasan badan hukum tersebut √ legal entity as referred to in the laws and
sebagaimana dimaksud dalam peraturan regulations concerning the legal entity.
perundang- undangan mengenai badan
hukum tersebut.
h. Rapat Umum Pemegang Saham yang selanjutnya h. General Meeting of Shareholders hereinafter
disingkat RUPS: abbreviated as GMS:
1) bagi Emiten atau Perusahaan Publik 1) For an Issuer or a Public Company in the
berbentuk badan hukum perseroan terbatas form of a limited liability company, it is
adalah RUPS sebagaimana dimaksud dalam the GMS as referred to in the Financial
Peraturan Otoritas Jasa Keuangan mengenai √ Services Authority Regulation concerning
Rencana dan Penyelenggaraan Rapat Umum the Planning and Organizing of the
Pemegang Saham Perusahaan Terbuka; dan General Meeting of Shareholders of a
Public Company; and
2) bagi Emiten atau Perusahaan Publik 2) For an Issuer or Public Company in the form
berbentuk badan hukum selain perseroan of a legal entity other than a limited liability
terbatas adalah organ yang mempunyai company, it is the body that has authority
wewenang yang tidak diberikan kepada that is not given to any other body that
organ yang melaksanakan fungsi carries out management and supervisory
√
pengurusan dan fungsi pengawasan, dalam functions, within the limits specified in the
batas yang ditentukan dalam peraturan legislation and/or articles of association
perundang-undangan dan/atau anggaran governing the legal entity.
dasar yang mengatur badan hukum tersebut.
2. Laporan Tahuna Emiten atau Perusahaan Publik 2. The Annual Report of Issuers or Public Companies
merupakan sumber informasi penting bagi investor is an important source of information for investors
atau pemegang saham sebagai salah satu dasar or shareholders as one of the basic considerations
√
pertimbangan dalam pengambilan keputusan investasi in making investment decisions and a means of
dan sarana pengawasan terhadap Emiten atau supervision of Issuers or Public Companies.
Perusahaan Publik.
3. Seiring dengan perkembangan pasar modal dan 3. Along with the development of the capital market
meningkatnya kebutuhan investor atau pemegang and the increasing need for information disclosure by
saham atas keterbukaan informasi, Direksi dan Dewan investors or shareholders, the Board of Directors and
Komisaris dituntut untuk menyajikan informasi yang √ the Board of Commissioners are required to present
berkualitas, akurat, dan akuntabel melalui Laporan quality, accurate, and accountable information through
Tahunan Emiten atau Perusahaan Publik. the Annual Reports of Issuers or Public Companies.
4. Laporan Tahunan yang disusun secara teratur dan 4. Annual Reports that are prepared regularly and
informatif dapat memberikan kemudahan bagi investor informatively can provide convenience for investors
atau pemegang saham dan pemangku kepentingan √ or shareholders and stakeholders in obtaining the
dalam memperoleh informasi yang dibutuhkan. required information.
5 Surat Edaran Otoritas Jasa Keuangan ini merupakan 5 This Financial Services Authority Circular is a guideline
pedoman bagi Emiten atau Perusahaan Publik yang for Issuers or Public Companies that must be applied in
√
wajib diterapkan dalam menyusun Laporan Tahunan preparing Annual Reports and Sustainability Reports.
dan Laporan Keberlanjutan.
Page 669
Halaman
No Keterangan Description
Page
II. Bentuk Laporan Tahunan II. Format of Annual Report
1. Laporan Tahunan disajikan dalam bentuk dokumen 1. Annual Report should be presented in the printed format
√
cetak dan salinan dokumen elektronik. and in electronic document copy..
2. Laporan Tahunan yang disajikan dalam bentuk dokumen 2. The printed version of the Annual Report should be
cetak, dicetak pada kertas yang berwarna terang, printed on light-colored paper of fine quality, in A4
√
berkualitas baik, berukuran A4, dijilid, dan dapat size, bound and can be reproduced in good quality.
diperbanyak dengan kualitas yang baik.
3. Laporan Tahunan dapat menyajikan informasi berupa 3. The Annual Report may present information in the
gambar, grafik, tabel, dan/atau diagram dengan form of pictures, graphs, tables, and/or diagrams by
√
mencantumkan judul dan/atau keterangan yang jelas, including clear titles and/or descriptions, so that they
sehingga mudah dibaca dan dipahami. are easy to read and understand.
4. Laporan Tahunan yang disajikan dalam bentuk salinan 4. The Annual Report presented in electronic document
dokumen elektronik merupakan Laporan Tahunan yang √ format is the Annual Report converted into pdf format.
dikonversi dalam format pdf.
III. Isi Laporan Tahunan III. Content Of Annual Report
1. Laporan Tahunan paling sedikit memuat informasi 1. Annual Report should contain at least the following
mengenai: information:
a. Ikhtisar data keuangan penting; √ a. Summary of key financial information;
b. Informasi saham (jika ada); √ b. Stock information (if any);
c. Laporan Direksi; √ c. The Board of Directors report;
d. Laporan Dewan Komisaris; √ d. The Board of Commissioners report;
e. Profil Emiten atau Perusahaan Publik; √ e. Profile of Issuer or Public Company;
f. Analisis dan pembahasan manajemen; √ f. Management discussion and analysis;
g. Tata kelola Emiten atau Perusahaan Publik; g. Corporate governance applied by the Issuer or
√
Public Company;
h. Tanggung jawab sosial dan lingkungan Emiten h. Corporate social and environmental responsibility
√
atau Perusahaan Publik; of the Issuer or Public Company;
i. Laporan keuangan tahunan yang telah diaudit; i. Audited annual report; and
√
dan
j. Surat pernyataan anggota Direksi dan anggota j. Statement that the Board of Directors and the
Dewan Komisaris tentang tanggung jawab atas √ Board of Commissioners are fully responsible for
Laporan Tahunan; the Annual Report;
2. Uraian Isi Laporan Tahunan 2. Description of Content of Annual Report
a. Ikhtisar Data Keuangan Penting a. Summary of Key Financial Information
Ikhtisar Data Keuangan Penting memuat Summary of Key Financial Information contains
informasi keuangan yang disajikan dalam financial information presented in comparison
bentuk perbandingan selama 3 (tiga) tahun buku with previous 3 (three) fiscal years or since
atau sejak memulai usahanya jika Emiten atau 16 commencement of business if the Issuers or the
Perusahaan Publik tersebut menjalankan kegiatan Public Company commencing the business less
usahanya kurang dari 3 (tiga) tahun, paling sedikit than 3 (three) years, at least contain:
memuat:
1) pendapatan/penjualan; 16 1) income/sales;
2) laba bruto; 16 2) gross profit;
3) laba (rugi); 16 3) profit (loss);
4) jumlah laba (rugi) yang dapat diatribusikan 4) total profit (loss) attributable to equity
kepada pemilik entitas induk dan 17 holders of the parent entity and non-
kepentingan non pengendali; controlling interest;
5) total laba (rugi) komprehensif; 17 5) total comprehensive profit (loss);
6) jumlah laba (rugi) komprehensif yang dapat 6) total comprehensive profit (loss) attributable
diatribusikan kepada pemilik entitas induk 17 to equity holders of the parent entity and
dan kepentingan non pengendali; non controlling interest;
7) laba (rugi) per saham; 17 7) earning (loss) per share;
8) jumlah aset; 16 8) total assets;
9) jumlah liabilitas; 16 9) total liabilities;
10) jumlah ekuitas; 16 10) total equities;
Page 670
Halaman
No Keterangan Description
Page
11) rasio laba (rugi) terhadap jumlah aset; 11) profit (loss) to total assets ratio;
12) rasio laba (rugi) terhadap ekuitas; 12) profit (loss) to equities ratio;
13) rasio laba (rugi) terhadap pendapatan/ 13) profit (loss) to income ratio;
penjualan; 18
14) rasio lancar; 14) current ratio;
15) rasio liabilitas terhadap ekuitas; 15) liabilities to equities ratio;
16) rasio liabilitas terhadap jumlah aset; dan 16) liabilities to total assets ratio; and
17) informasi dan rasio keuangan lainnya yang 17) other information and financial ratios
relevan dengan Emiten atau Perusahaan 18; 216 relevant to the Issuer or Public Company
Publik dan jenis industrinya; and type of industry;
b. Informasi Saham b. Stock Information
Informasi Saham (jika ada) paling sedikit memuat: 20 Stock Information (if any) at least contains:
1) saham yang telah diterbitkan untuk setiap 1) shares issued for each three-month period
masa triwulan (jika ada) yang disajikan in the last 2 (two) fiscal years (if any), at
20
dalam bentuk perbandingan selama 2 (dua) least covering:
tahun buku terakhir, paling sedikit meliputi:
a) jumlah saham yang beredar; 20 a) number of outstanding shares;
b) kapitalisasi pasar berdasarkan harga b) market capitalization based on the
pada Bursa Efek tempat saham 20 price at the Stock Exchange where the
dicatatkan; shares listed on;
c) harga saham tertinggi, terendah, dan c) highest share price, lowest share
penutupan berdasarkan harga pada price, closing share price at the Stock
20
Bursa Efek tempat saham dicatatkan; Exchange where the shares listed on;
dan and
d) volume perdagangan pada Bursa Efek d) share volume at the Stock Exchange
20
tempat saham dicatatkan; where the shares listed on;
Informasi pada huruf a) diungkap oleh Emiten Information in point a) should be disclosed
yang merupakan Perusahaan Terbuka yang by the Issuer, the public company whose
20
sahamnya tercatat maupun tidak tercatat di shares is listed or not listed in the Stock
Bursa Efek; Exchange;
Informasi pada huruf b), c), dan huruf d) Information in point b), point c), and point
hanya diungkapkan jika Emiten merupakan d) only be disclosed if the Issuer is a public
20
Perusahaan Terbuka dan sahamnya tercatat company whose shares is listed in the Stock
di Bursa Efek; Exchange;
2) dalam hal terjadi aksi korporasi, 2) in the event of corporate actions, including
seperti pemecahan saham (stock split), stock split, reverse stock, dividend, bonus
penggabungan saham (reverse stock), share, and change in par value of shares,
dividen saham, saham bonus, dan then the share price referred to in point 1),
22
perubahan nilai nominal saham, informasi should be added with explanation on:
saham sebagaimana dimaksud pada angka
1) ditambahkan penjelasan paling sedikit
mengenai:
a) tanggal pelaksanaan aksi korporasi; - a) date of corporate action;
b) rasio pemecahan saham (stock split), b) stock split ratio, reverse stock,
penggabungan saham (reverse stock), - dividend, bonus shares, and change
dividen saham, saham in par value of shares;
c) jumlah saham beredar sebelum dan c) number of outstanding shares prior to
-
sesudah aksi korporasi; dan and after corporate action; and
d) jumlah efek konversi yang d) The number of convertible securities
-
dilaksanakan (jika ada); dan exercised (if any); and
e) harga saham sebelum dan sesudah e) share price prior to and after corporate
-
aksi korporasi; action;
Page 671
Halaman
No Keterangan Description
Page
3) dalam hal terjadi penghentian sementara 3) in the event that the company’s shares
perdagangan saham (suspension), dan/atau were suspended and/or delisted from
penghapusan pencatatan saham (delisting) trading during the year under review,
dalam tahun buku, Emiten atau Perusahaan then the Issuers or Public Company should
22
Publik menjelaskan alasan penghentian provide explanation on the reason for the
sementara perdagangan saham (suspension) suspension and/or delisting; and
dan/atau penghapusan pencatatan saham
(delisting) tersebut; dan
4) dalam hal penghentian sementara 22 4) in the event that the suspension and/or
perdagangan saham (suspension) dan/atau delisting as referred to in point 3) was still
penghapusan pencatatan saham (delisting) in effect until the date of the Annual Report,
sebagaimana dimaksud pada angka 3) then the Issuer or the Public Company
masih berlangsung hingga akhir periode should also explain the corporate actions
Laporan Tahunan, Emiten atau Perusahaan taken by the company in resolving the
Publik menjelaskan tindakan yang dilakukan suspension and/or delisting;
untuk menyelesaikan penghentian sementara
perdagangan saham (suspension) dan/atau
penghapusan pencatatan saham (delisting)
tersebut;
c. Laporan Direksi 58 c. The Board of Directors Report
Laporan Direksi paling sedikit memuat: The Board of Directors Report should at least
contain the following items:
1) uraian singkat mengenai kinerja Emiten atau 1) the performance of the Issuer or Public
Perusahaan Publik, paling sedikit meliputi: Company, at least covering:
a) strategi dan kebijakan strategis Emiten a) strategy and strategic policies of the
62-65
atau Perusahaan Publik; Issuer or Public Company;
b) peranan Direksi dalam perumusan b) Role of the Board of Directors in
strategi dan kebijakan strategis Emiten 65 formulating strategies and strategic
atau Perusahaan Publik; policies of Issuers or Public Companies;
c) proses yang dilakukan Direksi untuk c) Process carried out by the Board of
memastikan implementasi strategi Directors to ensure the implementation
66
Emiten atau Perusahaan Publik; of the Issuer’s or Public Company’s
strategy;
d) perbandingan antara hasil yang d) comparison between achievement of
dicapai dengan yang ditargetkan; 68 results and targets; and
dan
e) kendala yang dihadapi Emiten atau e) challenges faced by the Issuer or
61
Perusahaan Publik; Public Company;
2) gambaran tentang prospek usaha; 69-70 2) description on business prospects;
3) penerapan tata kelola Emiten atau 3) implementation of good corporate
Perusahaan Publik; dan 70-71 governance by Issuer or Public Company;
and
4) perubahan komposisi anggota Direksi dan 4) changes in the composition of the Board of
71;98-99
alasan perubahannya (jika ada); Directors and the reason behind (if any);
d. Laporan Dewan Komisaris d. The Board of Commissioners Report
Laporan Dewan Komisaris paling sedikit memuat: 46 The Board of Commissioners Report should at
least contain the following items:
1) Penilaian terhadap kinerja Direksi mengenai 1) Assessment on the performance of the
pengelolaan Emiten atau Perusahaan Publik; 48-50 Board of Directors in managing the Issuer
or the Public Company;
2) Pengawasan terhadap implementasi strategi 2) Supervision on the implementation of the
50-51
Emiten atau Perusahaan Publik; strategy of the Issuer or Public Company;
3) Pandangan atas prospek usaha Emiten atau 3) View on the business prospects of the Issuer
Perusahaan Publik yang disusun oleh Direksi; 52-53 or Public Company as established by the
Board of Directors;
4) Pandangan atas penerapan tata kelola 4) View on the implementation of the
Emiten atau Perusahaan Publik; 54-55 corporate governance by the Issuer or
Public Company;
5) Perubahan komposisi anggota Dewan 5) Changes in the composition of the Board of
Komisaris dan alasan perubahannya (jika 55;98-99 Commissioners and the reason behind (if
ada); dan any); and
Page 672
Halaman
No Keterangan Description
Page
e. Profil Emiten atau Perusahaan Publik e. Profile of the Issuer or Public Company
Profil Emiten atau Perusahaan Publik paling sedikit 77 Profile of the Issuer or Public Company should
memuat: cover at least:
1) Nama Emiten atau Perusahaan Publik 1) Name of Issuer or Public Company, including
termasuk apabila terdapat perubahan change of name, reason of change, and the
79; 78
nama, alasan perubahan, dan tanggal effective date of the change of name during
efektif perubahan nama pada tahun buku; the year under review;
2) Akses terhadap Emiten atau Perusahaan 2) access to Issuer or Public Company,
Publik termasuk kantor cabang atau kantor including branch office or representative
perwakilan yang memungkinkan masyarakat office, where public can have access of
dapat memperoleh informasi mengenai information of the Issuer or Public Company,
Emiten atau Perusahaan Publik, meliputi: which include:
a) Alamat; 79 a) Address;
b) Nomor telepon; b) Telephone number;
c) Nomor faksimile; c) Facsimile number;
d) Alamat surat elektronik; dan d) E-mail address; and
e) Alamat Situs Web; e) Website address;
3) Riwayat singkat Emiten atau Perusahaan 3) Brief history of the Issuer or Public Company;
77--78
Publik;
4) Visi dan misi Emiten atau Perusahaan Publik; 4) Vision and mission of the Issuer or Public
84-85
Company;
5) Kegiatan usaha menurut anggaran dasar 5) Line of business according to the latest
terakhir, kegiatan usaha yang dijalankan Articles of Association, and types of
86-91
pada tahun buku, serta jenis barang dan/ products and/or services produced;
atau jasa yang dihasilkan;
6) Wilayah operasional Emiten atau 6) Operational area of the Issuer or Public
92-95
Perusahaan Publik; Company
7) Struktur organisasi Emiten atau Perusahaan 7) Structure of organization of the Issuer or
Publik dalam bentuk bagan, paling sedikit Public Company in chart form, at least 1
sampai dengan struktur 1 (satu) tingkat di 96-98 (one) level below the Board of Directors,
bawah Direksi, disertai dengan nama dan with the names and titles;
jabatan;
8) daftar keanggotaan asosiasi industri baik 8) List of industry association memberships
dalam skala nasional maupun internasional both on a national and international scale
143
yang berkaitan dengan penerapan related to the implementation of sustainable
keuangan berkelanjutan finance;
9) Profil Direksi, paling sedikit memuat: 106 9) The Board of Directors profiles include:
a) Nama dan jabatan yang sesuai a) Name and short description of duties
dengan tugas dan tanggung jawab; and functions;
b) Foto terbaru; b) Latest photograph;
c) Usia; c) Age;
106-111
d) Kewarganegaraan; d) Citizenship;
e) Riwayat pendidikan; e) Education;
f) Riwayat jabatan, meliputi informasi: f) history position, covering information
on:
(1) Dasar hukum penunjukan (1) Legal basis for appointment as
sebagai anggota Direksi pada member of the Board of Directors
106-111
Emiten atau Perusahaan Publik to the said Issuer or Public
yang bersangkutan; Company;
(2) Rangkap jabatan, baik sebagai (2) Dual position, as member of
anggota Direksi, anggota Dewan the Board of Directors, member
Komisaris, dan/atau anggota 106-111 of the Board of Commissioners,
komite serta jabatan lainnya (jika and/or member of committee,
ada); dan and other position (if any); and
(3) Pengalaman kerja beserta (3) Working experience and period
periode waktunya baik di dalam in and outside the Issuer or Public
106-111
maupun di luar Emiten atau Company;
Perusahaan Publik;
Page 673
Halaman
No Keterangan Description
Page
g) hubungan afiliasi dengan anggota g) Affiliation with other members of the
Direksi lainnya, anggota Dewan Board of Directors, members of the
Komisaris, pemegang saham utama, Board of Commissioners, majority and
dan pengendali baik langsung controlling shareholders, either directly
maupun tidak langsung sampai or indirectly to individual owners,
106-111
kepada pemilik individu, meliputi including names of affiliated parties.
nama pihak yang terafiliasi; In the event that a member of the
Board of Directors has no affiliation,
the Issuer or Public Company shall
disclose this matter; and
h) perubahan komposisi anggota Direksi h) Changes in the composition of the
dan alasan perubahannya. Dalam hal members of the Board of Directors
tidak terdapat perubahan komposisi and the reasons for the changes. In
anggota Direksi, maka diungkapkan 98-99 the event that there is no change in
mengenai hal tersebut; the composition of the members of the
Board of Directors, this matter shall be
disclosed;
10) Profil Dewan Komisaris, paling sedikit 10) The Board of Commissioners profiles, at
memuat: least include:
a) Nama; a) Name;
b) Foto terbaru; b) Latest photograph;
c) Usia; c) Age;
d) Kewarganegaraan; d) Citizenship;
e) Riwayat pendidikan; e) Education;
f) Riwayat jabatan, meliputi informasi: f) History position, covering information
on:
(1) Dasar hukum penunjukan sebagai (1) Legal basis for the appointment
anggota Dewan Komisaris yang as member of the Board of
bukan merupakan Komisaris Commissioners who is not
Independen pada Emiten Independent Commissioner at the
atau Perusahaan Publik yang said Issuer or Public Company;
bersangkutan; 100-106
(2) Dasar hukum penunjukan (2) Legal bases for the first
pertama kali sebagai appointment as member of the
anggota Dewan Komisaris Board of Commissioners who
yang merupakan Komisaris also Independent Commissioner
Independen pada Emiten at the said Issuer or Public
atau Perusahaan Publik yang Company;
bersangkutan;
(3) Rangkap jabatan, baik sebagai (3) Dual position; as member of the
anggota Dewan Komisaris, Board of Commissioners, member
anggota Direksi, dan/atau of the Board of Directors, and/or
anggota komite serta jabatan member of committee and other
lainnya (jika ada); dan position (if any); and
(4) Pengalaman kerja beserta (4) Working experience and period
periode waktunya baik di dalam in and outside the Issuer or Public
maupun di luar Emiten atau Company;
Perusahaan Publik;
g) Hubungan afiliasi dengan anggota g) Affiliation with other members of
Dewan Komisaris lainnya, pemegang the Board of Commissioners, major
saham utama, dan pengendali baik shareholders, and controllers either
langsung maupun tidak langsung directly or indirectly to individual
sampai kepada pemilik individu, 100-106 owners, including names of affiliated
meliputi nama pihak yang terafilias parties; In the event that a member of
the Board of Commissioners has no
affiliation, the Issuer or Public Company
shall disclose this matter;
h) Pernyataan independensi Komisaris h) Statement of independence of
Independen dalam hal Komisaris Independent Commissioner in the event
Independen telah menjabat lebih dari 100-106 that the Independent Commissioner
2 (dua) periode (jika ada); has been appointed more than 2 (two)
periods (if any);
Page 674
Halaman
No Keterangan Description
Page
i) Perubahan komposisi anggota Dewan i) Changes in the composition of
Komisaris dan alasan perubahannya. the members of the Board of
Dalam hal tidak terdapat perubahan Commissioners and the reasons for
komposisi anggota Dewan Komisaris, the changes. In the event that there
98-99
maka diungkapkan mengenai hal is no change in the composition
tersebut; of the members of the Board of
Commissioners, this matter shall be
disclosed;
11) Dalam hal terdapat perubahan susunan 11) In the event that there were changes in the
anggota Direksi dan/atau anggota Dewan composition of the Board of Commissioners
Komisaris yang terjadi setelah tahun buku and/or the Board of Directors occurring
berakhir sampai dengan batas waktu between the period after year-end until the
penyampaian Laporan Tahunan, susunan 98-99 date the Annual Report submitted, then the
yang dicantumkan dalam Laporan Tahunan last and the previous composition of the
adalah susunan anggota Direksi dan/atau Board of Commissioners and/or the Board
anggota Dewan Komisaris yang terakhir of Directors shall be stated in the Annual
dan sebelumnya; Report;
12) Jumlah karyawan menurut jenis kelamin, 12) Number of employees by gender, position,
jabatan, usia, tingkat pendidikan, dan status age, education level, and employment
ketenagakerjaan (tetap/kontrak) dalam 118-119 status (permanent/contracted) in the fiscal
tahun buku; year; Disclosure of information can be
presented in tabular form.
13) Nama pemegang saham dan persentase 13) Names of shareholders and ownership
kepemilikan pada akhir tahun buku, yang 120-122 percentage at the end of the fiscal year,
terdiri dari: including:
a) Pemegang saham yang memiliki 5% a) Shareholders having 5% (five percent)
(lima persen) atau lebih saham Emiten or more shares of Issuer or Public
atau Perusahaan Publik; Company;
123
b) Anggota Direksi dan anggota Dewan b) Commissioners and Directors who
Komisaris yang memiliki saham Emiten own shares of the Issuers or Public
atau Perusahaan Publik; dan Company; and
c) Kelompok pemegang saham c) Groups of public shareholders, or
masyarakat, yaitu kelompok groups of shareholders, each with
pemegang saham yang masing- less than 5% (five percent) ownership
124
masing memiliki kurang dari 5% shares of the Issuers or Public
(lima persen) saham emiten atau Company;
perusahaan publik;
14) Persentase kepemilikan tidak langsung 14) The percentage of indirect ownership of
atas saham Emiten atau Perusahaan the shares of the Issuer or Public Company
Publik oleh anggota Direksi dan anggota by members of the Board of Directors and
Dewan Komisaris pada awal dan akhir members of the Board of Commissioners at
tahun buku, termasuk informasi mengenai the beginning and end of the fiscal year,
125-126
pemegang saham yang terdaftar dalam including information on shareholders
daftar pemegang saham untuk kepentingan registered in the shareholder register for the
kepemilikan tidak langsung anggota Direksi benefit of indirect ownership of members of
dan anggota Dewan Komisaris; the Board of Directors and members of the
Board of Commissioners;
15) Jumlah pemegang saham dan persentase 15) Number of shareholders and ownership
kepemilikan per akhir tahun buku percentage at the end of the fiscal year,
berdasarkan klasifikasi: based on:
a) Kepemilikan institusi lokal; a) Ownership of local institutions;
124
b) Kepemilikan institusi asing; b) Ownership of foreign institutions;
c) Kepemilikan individu lokal; dan c) Ownership of local individual; and
d) Kepemilikan individu asing; d) Ownership of foreign individual;
16) Informasi mengenai pemegang saham 16 Information on major shareholders and
utama dan pengendali Emiten atau controlling shareholders the Issuers of Public
Perusahaan Publik, baik langsung maupun Company, directly or indirectly, and also
120-122
tidak langsung, sampai kepada pemilik individual shareholder, presented in the
individu, yang disajikan dalam bentuk form of scheme or diagram;
skema atau bagan;
Page 675
Halaman
No Keterangan Description
Page
17) Nama entitas anak, perusahaan asosiasi, 17) Name of subsidiaries, associated
perusahaan ventura bersama dimana companies, joint venture controlled by
Emiten atau Perusahaan Publik memiliki Issuers or Public Company, with entity,
pengendalian bersama entitas, beserta percentage of stock ownership, line of
persentase kepemilikan saham, bidang 129-137 business, total assets and operating status
usaha, total aset, dan status operasi Emiten of the Issuers of Public Company (if any);
atau Perusahaan Publik tersebut (jika ada);
Untuk entitas anak, ditambahkan informasi For subsidiaries, include the addresses of
mengenai alamat entitas anak tersebut; the said subsidiaries;
18) Kronologi pencatatan saham, jumlah saham, 18) Chronology of share listing, number of
nilai nominal, dan harga penawaran dari shares, par value, and bid price from the
awal pencatatan hingga akhir tahun buku beginning of listing up to the end of the
127-128
serta nama Bursa Efek dimana saham financial year, and name of Stock Exchange
Emiten atau Perusahaan Publik dicatatkan where the Issuers of Public Company shares
(jika ada); are listed;
19) Informasi pencatatan efek lainnya selain 19) Other securities listing information other
efek sebagaimana dimaksud pada angka than the securities as referred to in number
18), yang belum jatuh tempo pada tahun 18), which have not yet matured in the
buku paling sedikit memuat nama efek, 128 fiscal year, at least contain the name of the
tahun penerbitan, tingkat suku bunga/imbal securities, year of issue, interest rate/yield,
hasil, tanggal jatuh tempo, nilai penawaran, maturity date, offering value, and securities
dan peringkat efek (jika ada); rating (if any);
20) Informasi penggunaan jasa akuntan publik 20) Information on the use of a Public
(AP) dan kantor akuntan publik (KAP) beserta Accountant (AP) and a Public Accounting
138
jaringan/asosiasi/aliansinya meliputi: firm (KAP) services and their networks/
associations/alliances include:
a) nama dan alamat; a) name and address;
b) periode penugasan; b) period of assignment;
c) informasi jasa audit dan/atau non c) informasi jasa audit dan/atau non
audit yang diberikan; audit yang diberikan;
d) biaya jasa (fee) audit dan/atau non d) Audit and/or non-audit fees for each
audit untuk masing-masing penugasan assignment given during the fiscal
139
yang diberikan selama tahun buku; year; and
dan
e) dalam hal AP dan KAP beserta e) In the event that AP and KAP and their
jaringan/asosiasi/aliansinya, yang network/association/alliance, which
ditunjuk tidak memberikan jasa non are appointed do not provide non-
audit, maka diungkapkan mengenai audit services, then the information is
informasi tersebut; dan disclosed; and
21) Nama dan alamat lembaga dan/atau 21) Name and address of capital market
profesi penunjang pasar modal selain AP 140-143 supporting institutions and/or professionals
dan KAP; other than AP and KAP
f. Analisis dan Pembahasan Manajemen f. Management Discussion and Analysis
Analisis dan pembahasan manajemen memuat Management Analysis and Discussion Annual
analisis dan pembahasan mengenai laporan should contain discussion and analysis on
keuangan dan informasi penting lainnya dengan 171 financial statements and other material information
penekanan pada perubahan material yang terjadi emphasizing material changes that occurred
dalam tahun buku, yaitu paling sedikit memuat: during the year under review, at least including:
1) Tinjauan operasi per segmen operasi 1) Operational review per business segment,
sesuai dengan jenis industri Emiten atau 181 according to the type of industry of the
Perusahaan Publik, paling sedikit mengenai: Issuer or Public Company including:
a) Produksi, yang meliputi proses, a) Production, including process,
181-186
kapasitas, dan perkembangannya; capacity, and growth;
b) Pendapatan/penjualan; dan 181-187 b) Income/sales; and
c) Profitabilitas; 187 c) Profitability;
2) Kinerja keuangan komprehensif yang 2) comprehensive financial performance
mencakup perbandingan kinerja keuangan analysis which includes a comparison
dalam 2 (dua) tahun buku terakhir, penjelasan between the financial performance of the
194
tentang penyebab adanya perubahan dan last 2 (two) fiscal years, and explanation
dampak perubahan tersebut, paling sedikit on the causes and effects of such changes,
mengenai: among others concerning:
Page 676
Halaman
No Keterangan Description
Page
a) Aset lancar, aset tidak lancar, dan a) Current assets, non-current assets, and
194-202
total aset; total assets;
b) Liabilitas jangka pendek, liabilitas b) Short term liabilities, long term
202-208
jangka panjang, dan total liabilitas; liabilities, total liabilities;
c) Ekuitas; 208-210 c) Equities;
d) Pendapatan/penjualan, beban, laba d) Sales/operating revenues, expenses
(rugi), penghasilan komprehensif lain, and profit (loss), other comprehensive
210-214
dan total laba (rugi) komprehensif; revenues, and total comprehensive
dan profit (loss); and
e) Arus kas 214-216 e) Cash flows
3) Kemampuan membayar utang dengan 3) The capacity to pay debts by including the
217-218
menyajikan perhitungan rasio yang relevan; computation of relevant ratios;
4) Tingkat kolektibilitas piutang emiten atau 4) Accounts receivable collectability of the
perusahaan publik dengan menyajikan 218 Issuer or Public Company, including the
perhitungan rasio yang relevan; computation of the relevant ratios;
5) Struktur modal (capital structure) dan 5) Capital structure and management policies
kebijakan manajemen atas struktur modal concerning capital structure, including the
218-219
(capital structure) tersebut disertai dasar basis for determining the said policy;
penentuan kebijakan dimaksud;
6) Bahasan mengenai ikatan yang material 6) discussion on material ties for the investment
untuk investasi barang modal dengan 219 of capital goods, including the explanation
penjelasan paling sedikit meliputi: on at least:
a) Tujuan dari ikatan tersebut; - a) The purpose of such ties;
b) Sumber dana yang diharapkan untuk b) Source of funds expected to fulfill the
-
memenuhi ikatan tersebut; said ties;
c) Mata uang yang menjadi denominasi; c) Currency of denomination; and
-
dan
d) Langkah yang direncanakan emiten d) Steps taken by the Issuer of Public
atau perusahaan publik untuk Company to protect the position of a
-
melindungi risiko dari posisi mata related foreign currency against risks;
uang asing yang terkait;
7) Bahasan mengenai investasi barang modal 7) Discussion on investment of capital goods
yang direalisasikan dalam tahun buku which was realized in the last fiscal year,
terakhir, paling sedikit meliputi: at least include:
a) Jenis investasi barang modal; a) Type of investment of capital goods;
219
b) Tujuan investasi barang modal; dan b) Objective of the investment of capital
goods; and
c) Nilai investasi barang modal yang c) Value of the investment of capital
dikeluarkan; goods;
8) Informasi dan fakta material yang terjadi 8) Material Information and facts that
setelah tanggal laporan akuntan (jika ada); 219 occurring after the date of the accountant’s
report (if any);
9) Prospek usaha dari emiten atau perusahaan 9) Information on the prospects of the Issuer
publik dikaitkan dengan kondisi industri, or the Company in connection with
ekonomi secara umum dan pasar industry,economy in general, accompanied
228-229
internasional disertai data pendukung with supporting quantitative data if there is
kuantitatif dari sumber data yang layak a reliable data source;
dipercaya;
10) Perbandingan antara target/proyeksi pada 10) Comparison between target/projection at
awal tahun buku dengan hasil yang dicapai 220-223 beginning of year and result (realization),
(realisasi), mengenai: concerning:
a) Pendapatan/penjualan; a) Income/sales;
b) Laba (rugi); 220-223 b) Profit (loss);
c) Struktur modal (capital structure); c) Capital structure; or
d) Kebijakan dividen; atau - d) Dividend policy; or
e) Hal lainnya yang dianggap penting e) Others that deemed necessary for the
221-223
bagi Emiten atau Perusahaan Publik; Issuer or Public Company;
Page 677
Halaman
No Keterangan Description
Page
11) Target/proyeksi yang ingin dicapai Emiten 11) Target/projection at most for the next one
atau Perusahaan Publik untuk 1 (satu) tahun 223 year of the Issuer or Public Company,
mendatang, mengenai: concerning:
a) Pendapatan/penjualan; 227 a) Income/sales;
b) Laba (rugi); 227 b) Profit (loss);
c) Struktur modal (capital structure); 227-228 c) Capital structure; or
d) Kebijakan dividen; atau 234; 235- d) Dividend policy;
236
e) Hal lainnya yang dianggap penting e) Or others that deemed necessary for
225-227
bagi Emiten atau Perusahaan Publik; the Issuer or Public Company;
12) Aspek pemasaran atas barang dan/atau 12) Marketing aspects of the company’s
jasa Emiten atau Perusahaan Publik, paling products and/or services the Issuer or
229-231
sedikit mengenai strategi pemasaran dan Public Company, among others marketing
pangsa pasar; strategy and market share;
13) Uraian mengenai dividen selama 2 (dua) 13) Description regarding the dividend policy
tahun buku terakhir (jika ada), paling sedikit: 234 during the last 2 (two) fiscal years, at least:
a) Kebijakan dividen; 234-235 a) Dividend policy;
b) Tanggal pembayaran dividen kas b) The date of the payment of cash
dan/atau tanggal distribusi dividen 235 dividend and/or date of distribution
non kas; of non-cash dividend;
c) Jumlah dividen per saham (kas dan/ c) Amount of cash per share (cash and/
235
atau non kas); dan or non cash); and
d) Jumlah dividen per tahun yang d) Amount of dividend per year paid;
235
dibayar;
Dalam hal Emiten atau Perusahaan Publik Disclosure of information can be presented
tidak membagikan dividen dalam 2 (dua) in tabular form. In the event that the Issuer
tahun terakhir, maka diungkapkan mengenai - or Public Company does not distribute
hal tersebut. dividends in the last 2 (two) years, this
matter shall be disclosed.
14) Realisasi penggunaan dana hasil Penawaran 14) Use of proceeds from Public Offerings,
231-234
Umum, dengan ketentuan: under the condition of:
a) Dalam hal selama tahun buku, Emiten a) during the year under review, on
memiliki kewajiban menyampaikan which the Issuer has the obligation
laporan realisasi penggunaan to report the realization of the use of
dana, maka diungkapkan realisasi 231-234 proceeds, then the realization of the
penggunaan dana hasil Penawaran cumulative use of proceeds until the
Umum secara kumulatif sampai year end should be disclosed; and
dengan akhir tahun buku; dan
b) Dalam hal terdapat perubahan b) In the event that there were changes
penggunaan dana sebagaimana in the use of proceeds as stipulated
diatur dalam Peraturan Otoritas Jasa in the Regulation of the Financial
Keuangan tentang Laporan Realisasi - Services Authority on the Report of
Penggunaan Dana Hasil Penawaran the Utilization of Proceeds from Public
Umum, maka Emiten menjelaskan Offering, then Issuer should explain
perubahan tersebut; the said changes;
Page 678
Halaman
No Keterangan Description
Page
15) Informasi material (jika ada), antara lain 15) Material information (if any), among
mengenai investasi, ekspansi, divestasi, others concerning investment, expansion,
penggabungan/peleburan usaha, akuisisi, divestment, acquisition, debt/capital
restrukturisasi utang/modal, transaksi 236 restructuring, transactions with related
Afiliasi, dan transaksi yang mengandung parties and transactions with conflict of
benturan kepentingan, yang terjadi pada interest that occurred during the year under
tahun buku, antara lain memuat: review, among others include:
a) Tanggal, nilai, dan objek transaksi; - a) Transaction date, value, and object;
b) Nama pihak yang melakukan b) Name of transacting parties;
238-240
transaksi;
c) Sifat hubungan Afiliasi (jika ada); 240 c) Nature of related parties (if any);
d) Penjelasan mengenai kewajaran d) Description of the fairness of the
241
transaksi; dan transaction; and
e) Pemenuhan ketentuan terkait; 236-237; e) Compliance with related rules and
241 regulations;
f) dalam hal terdapat hubungan afiliasi, f) In the event that there is an affiliation
selain mengungkapkan informasi relationship, apart from disclosing the
sebagaimana dimaksud dalam information as referred to in letter a) to
huruf a) sampai dengan huruf e), letter e), the Issuer or Public Company
Emiten atau Perusahaan Publik juga also discloses information:
mengungkapkan informasi:
1) Pernyataan Direksi bahwa 1) A statement from the Board
transaksi afiliasi telah melalui of Directors that the affiliate
prosedur yang memadai untuk transaction has gone through
memastikan bahwa transaksi adequate procedures to ensure
afiliasi dilaksanakan sesuai that the affiliate transaction is
241
dengan praktik bisnis yang carried out in accordance with
berlaku umum antara lain generally accepted business
dilakukan dengan memenuhi practices, by complying with the
prinsip transaksi yang wajar arms-length principle; and
(arms- length principle); dan
2) Peran Dewan Komisaris dan 2) The role of the Board of
komite audit dalam melakukan Commissioners and the audit
prosedur yang memadai untuk committee in carrying out
memastikan bahwa transaksi adequate procedures to ensure
afiliasi dilaksanakan sesuai that affiliated transactions are
242
dengan praktik bisnis yang carried out in accordance with
berlaku umum antara lain generally accepted business
dilakukan dengan memenuhi practices, by complying with the
prinsip transaksi yang wajar arms-length principle;
(arms- length principle);
g) Dalam hal transaksi afiliasi atau g) For affiliated transactions or material
transaksi material dimaksud telah transactions which are business activities
diungkapkan dalam laporan keuangan carried out to generate business
tahunan, ditambahkan informasi income and are carried out regularly,
mengenai rujukan pengungkapan repeatedly, and/or continuously, an
242
dalam laporan keuangan tahunan explanation is added that the affiliated
tersebut. transactions or material transactions are
business activities carried out to generate
operating income. and run regularly,
repeatedly, and/or continuously;
h) Untuk pengungkapan transaksi h) For disclosure of affiliated transactions
afiliasi dan/atau transaksi benturan and/or conflict of interest transactions
kepentingan yang merupakan hasil resulting from the implementation
pelaksanaan transaksi afiliasi dan/ of affiliated transactions and/or
atau transaksi benturan kepentingan conflict of interest transactions that
yang telah disetujui pemegang saham - have been approved by independent
independen, ditambahkan informasi shareholders, additional information
mengenai tanggal pelaksanaan RUPS regarding the date of the GMS which
yang menyetujui transaksi afiliasi dan/ approved the affiliated transactions
atau transaksi benturan kepentingan and/or conflict of interest transactions
tersebut; is added;
i) Dalam hal tidak terdapat transaksi i) In the event that there is no affiliated
afiliasi dan/atau transaksi benturan transaction and/or conflict of
-
kepentingan, maka diungkapkan interest transaction, then this shall be
mengenai hal tersebut; disclosed;
Page 679
Halaman
No Keterangan Description
Page
16) Perubahan ketentuan peraturan perundang- 16) Changes in regulation which have a
undangan yang berpengaruh signifikan significant effect on the Issuer or Public
terhadap Emiten atau Perusahaan Publik dan 242 Company and impacts on the company (if
dampaknya terhadap laporan keuangan any); and
(jika ada); dan
17) Perubahan kebijakan akuntansi, alasan dan 17) Changes in the accounting policy, rationale
dampaknya terhadap laporan keuangan 242 and impact on the financial statement (if
(jika ada); any);
g. Tata Kelola Emiten atau Perusahaan Publik g. Corporate Governance of the Issuer or Public
Company
Tata kelola Emiten atau Perusahaan Publik paling Corporate Governance of the Issuer or Public
sedikit memuat uraian singkat mengenai: Company contains at least:
1) RUPS, paling sedikit memuat: 1) GMS, at least contains:
a) Informasi mengenai keputusan RUPS a) Information regarding the resolutions
pada tahun buku dan 1 (satu) tahun of the GMS in the fiscal year and 1
sebelum tahun buku meliputi: (one) year prior to the fiscal year
include:
1) keputusan RUPS pada tahun 1) Resolutions of the GMS in the
buku dan 1 (satu) tahun sebelum fiscal year and 1 (one) year
266-274
tahun buku yang direalisasikan before the fiscal year realized in
pada tahun buku; dan the fiscal year; and
2) keputusan RUPS pada tahun 2) Resolutions of the GMS in the
buku dan 1 (satu) tahun fiscal year and 1 (one) year
sebelum tahun buku yang belum 274-275 before the fiscal year that have
direalisasikan beserta alasan not been realized and the
belum direalisasikan; reasons for not realizing them;
b) dalam hal Emiten atau Perusahaan b) In the event that the Issuer or Public
Publik menggunakan pihak Company uses an independent party
independen dalam pelaksanaan RUPS in the conduct of the GMS to calculate
264
untuk melakukan perhitungan suara, the votes, then this matter shall be
maka diungkapkan mengenai hal disclosed;
tersebut;
2) Direksi, mencakup antara lain: 2) The Board of Directors, covering:
a) Tugas dan tanggung jawab masing- 332-334 a) The tasks and responsibilities of each
masing anggota Direksi; member of the Board of Directors;
b) Pernyataan bahwa Direksi memiliki 328 b) Statement that the Board of Directors
pedoman atau piagam (charter) has already have board manual or
Direksi; charter;
c) Kebijakan dan pelaksanaan tentang c) Policies and implementation of
frekuensi rapat Direksi, termasuk the frequency of meetings of the
rapat bersama Dewan Komisaris, dan Board of Directors, meetings of the
tingkat kehadiran anggota Direksi Board of Directors with the Board
338-342
dalam rapat tersebut termasuk tingkat of Commissioners, and the level of
kehadiran dalam RUPS; attendance of members of the Board
of Directors in the meeting including
attendance at the GMS;
d) pelatihan dan/atau peningkatan d) Training and/or competency
kompetensi anggota Direksi: development of members of the Board
of Directors:
(1) kebijakan pelatihan dan/ (1) Policies for training and/
atau peningkatan kompetensi or improving the competence
anggota Direksi, termasuk of members of the Board
program orientasi bagi anggota 344 of Directors, including an
Direksi yang baru diangkat (jika orientation program for newly
ada); dan appointed members of the Board
of Directors (if any); and
(2) pelatihan dan/atau peningkatan (2) Training and/or competency
kompetensi yang diikuti anggota improvement attended by
114-116
Direksi dalam tahun buku (jika members of the Board of Directors
ada); in the fiscal year (if any);
Page 680
Halaman
No Keterangan Description
Page
e) penilaian Direksi terhadap kinerja e) The Board of Directors’ assessment
komite yang mendukung pelaksanaan of the performance of the committees
tugas Direksi pada tahun buku paling that support the implementation of the
sedikit memuat: Board of Directors’ duties for the fiscal
year shall at least contain:
(1) prosedur penilaian kinerja; dan (1) Performance appraisal
350
procedures; and
(2) kriteria yang digunakan seperti (2) The criteria used are performance
capaian kinerja selama tahun achievements during the fiscal
350
buku, kompetensi dan kehadiran year, are competence and
dalam rapat; dan attendance at meetings; and
f) dalam hal Emiten atau Perusahaan Perusahaan f) In the event that the Issuer or Public
Publik tidak memiliki komite yang memiliki Company does not have a committee
mendukung pelaksanaan tugas komite yang that supports the implementation of the
Direksi, maka diungkapkan mengenai mendukung duties of the Board of Directors, this
hal tersebut. pelaksanaan matter shall be disclosed.
tugas Direksi
The company
has a
committee
that supports
the Board of
Directors in
carrying out
its duties
3) Dewan Komisaris, mencakup antara lain: 3) The Board of Commissioners, among others
include:
a) Tugas dan tanggung jawab Dewan a) Duties and responsibilities of the
278-279
Komisaris; Board of Commissioners;
b) Pernyataan bahwa Dewan Komisaris b) Statement that the Board of
memiliki pedoman atau piagam 277-278 Commissioners has already have the
(charter) Dewan Komisaris; board manual or charter;
c) Kebijakan dan pelaksanaan tentang c) Policies and implementation of the
frekuensi rapat Dewan Komisaris, frequency of meetings of the Board of
termasuk rapat bersama Direksi, dan Commissioners, meetings of the Board
tingkat kehadiran anggota Dewan of Commissioners with the Board of
286-291
Komisaris dalam rapat tersebut Directors and the level of attendance of
termasuk tingkat kehadiran dalam members of the Board of Commissioners
RUPS;; in these meetings including attendance
at the GMS;
d) pelatihan dan/atau peningkatan d) Training and/or competency
kompetensi anggota Dewan improvement of members of the Board
Komisaris: of Commissioners:
(1) kebijakan pelatihan dan/ (1) Policy on competency training
atau peningkatan kompetensi and/or development of members
anggota Dewan Komisaris, of the Board of Commissioners,
termasuk program orientasi bagi 295 including orientation programs for
anggota Dewan Komisaris yang newly appointed members of the
baru diangkat (jika ada); dan Board of Commissioners (if any);
and
(2) pelatihan dan/atau peningkatan (2) Competency training and/or
kompetensi yang diikuti anggota development attended by members
112-114
Dewan Komisaris dalam tahun of the Board of Commissioners in
buku (jika ada); the fiscal year (if any);
e) penilaian terhadap kinerja anggota e) The assessment on the performance
Direksi dan anggota Dewan Komisaris of the Board of Directors and
dan pelaksanaannya, paling sedikit Board of Commissioners and the
memuat: implementation, at least covering:
(1) Prosedur pelaksanaan penilaian (1) procedure for the implementation of
295-296
kinerja; performance assessment;
Page 681
Halaman
No Keterangan Description
Page
(2) Kriteria yang digunakan seperti (2) Criteria used are performance
capaian kinerja selama tahun achievements during the
295-296
buku, kompetensi dan kehadiran fiscal year, competency and
dalam rapat; dan attendance at meetings; and
(3) Pihak yang melakukan penilaian; 297 (3) Assessor;
f) penilaian Dewan Komisaris terhadap f) Board of Commissioners’ assessment
kinerja Komite yang mendukung of the performance of the Committees
pelaksanaan tugas Dewan Komisaris that support the implementation of the
pada tahun buku meliputi: duties of the Board of Commissioners
in the fiscal year includes:
(1) prosedur penilaian kinerja; dan (1) Performance appraisal procedures;
297
and
(2) kriteria yang digunakan seperti (2) The criteria used are performance
capaian kinerja selama tahun achievements during the fiscal
297-298
buku, kompetensi dan kehadiran year, competency and attendance
dalam rapat; at meetings;
4) Nominasi dan remunerasi Direksi dan 4) The nomination and remuneration of
Dewan Komisaris, paling sedikit memuat: the Board of Directors and the Board of
Commissioners shall at least contain:
a) prosedur nominasi, meliputi uraian a) Nomination procedure, including a
singkat mengenai kebijakan dan brief description of the policies and
proses nominasi anggota Direksi dan/ 350-351 process for nomination of members of
atau anggota Dewan Komisaris; dan the Board of Directors and/or members
of the Board of Commissioners; and
b) prosedur dan pelaksanaan remunerasi b) Procedures and implementation of
Direksi dan Dewan Komisaris, antara remuneration for the Board of Directors
lain: and the Board of Commissioners,
among others:
(1) prosedur penetapan remunerasi (1) Procedures for determining
Direksi dan Dewan Komisaris; remuneration for the Board
353
of Directors and the Board of
Commissioners;
(2) struktur remunerasi Direksi dan (2) The remuneration structure of the
Dewan Komisaris seperti, gaji, Board of Directors and the Board
tunjangan, tantiem/bonus dan 354 of Commissioners such as salary,
lainnya; dan allowances, tantiem/bonus and
others; and
(3) besarnya remunerasi masing- (3) The amount of remuneration
masing anggota Direksi dan for each member of the Board
355
anggota Dewan Komisaris; of Directors and member of the
Board of Commissioners
5) Dewan Pengawas Syariah, bagi Emiten Perseroan 5) Sharia Supervisory Board, for Issuer or
atau Perusahaan Publik yang menjalankan tidak Public Company that conduct business
kegiatan usaha berdasarkan prinsip syariah menjalankan based on sharia law, as stipulated in the
sebagaimana tertuang dalam anggaran kegiatan articles of association, at least containing:
dasar, paling sedikit memuat: usaha
berdasarkan
a) nama; a) name;
prinsip
b) dasar hukum pengangkatan dewan syariah b) Legal basis for the appointment of the
pengawas syariah; sebagaimana sharia supervisory board;
tertuang
c) periode penugasan dewan pengawas dalam c) Period of assignment of the sharia
syariah; Anggaran supervisory board;
d) tugas dan tanggung jawab Dewan Dasar d) duty and responsibility of Sharia
Pengawas Syariah; dan Perseroan Supervisory Board; and
e) frekuensi dan cara pemberian The Company e) frequency and procedure in providing
nasihat dan saran serta pengawasan does not advice and suggestion, as well as the
pemenuhan Prinsip Syariah di conduct compliance of Sharia Principles by
Pasar Modal terhadap Emiten atau business the Issuer or Public Company in the
Perusahaan Publik; activities in Capital Market;
accordance
with Sharia
principles as
set forth in the
Company’s
Articles of
Association
Page 682
Halaman
No Keterangan Description
Page
6) Komite Audit, mencakup antara lain: 6) Audit Committee, among others covering:
a) Nama dan jabatannya dalam a) Name and position in the committee;
301
keanggotaan komite;
b) Usia; b) Age;
103, 105,
c) Kewarganegaraan; c) Citizenship;
303, 304
d) Riwayat pendidikan; d) Education background;
e) Riwayat jabatan, meliputi informasi: e) History of position; including:
(1) Dasar hukum untuk pengangkatan (1) Legal basis for appointment as
sebagai anggota komite; committee member;
(2) Rangkap jabatan, baik sebagai (2) Dual position, as member
anggota Dewan Komisaris, of Board of Commissioners,
anggota Direksi, dan/atau member of Board of Directors,
anggota komite serta jabatan 301-302 and/or member of committee,
lainnya (jika ada); dan and other position (if any); and
(3) Pengalaman kerja beserta (3) working experience and period
periode waktunya baik di dalam in and outside the Issuer or Public
maupun di luar Emiten atau Company;
Perusahaan Publik;
f) Periode dan masa jabatan anggota f) Period and terms of office of the
301-302
Komite Audit; member of Audit Committee;
g) Pernyataan independensi Komite g) statement of independence of the
304-305
Audit; Audit Committee;
h) Pendidikan dan/atau pelatihan yang h) Training and/or competency
telah diikuti dalam tahun buku (jika 307 improvement that have been followed
ada); dan in the fiscal year (if any);
i) Kebijakan dan pelaksanaan tentang i) Policies and implementation of the
frekuensi rapat Komite Audit dan frequency of audit committee meetings
tingkat kehadiran anggota Komite 305-306 and the level of attendance of audit
Audit dalam rapat tersebut; committee members in those meetings;
and
j) Pelaksanaan kegiatan Komite Audit j) the activities of the Audit Committee in
pada tahun buku sesuai dengan yang the year under review, in accordance
306-308
dicantumkan dalam pedoman atau with the Audit Committee Charter;
piagam (charter) Komite Audit;
7) Komite atau fungsi nominasi dan remunerasi 7) The nomination and remuneration
Emiten atau Perusahaan Publik, paling committee or function of the Issuer or Public
sedikit memuat: Company, at least containing:
a) Nama dan jabatannya dalam a) Name and position in committee
311
keanggotaan komite; membership;
b) Usia; b) Age;
104,
c) Kewarganegaraan; c) Nationality;
312,313
d) Riwayat pendidikan; d) Educational history;
e) Riwayat jabatan, meliputi informasi: e) Position history, including information
on:
(1) Dasar hukum penunjukan (1) Legal basis for appointment as
311
sebagai anggota komite; committee member;
(2) Rangkap jabatan, baik sebagai (2) Concurrent positions, either
anggota Dewan Komisaris, as a member of the Board of
anggota Direksi, dan/atau 104, Commissioners, member of
anggota komite serta jabatan 312,313 the Board of Directors, and/or
lainnya (jika ada); dan committee member and other
positions (if any); and
(3) Pengalaman kerja beserta (3) Work experience and period of
periode waktunya baik di dalam 104, time both inside and outside the
maupun di luar Emiten atau 312,313 Issuer or Public Company;
Perusahaan Publik;
f) Periode dan masa jabatan anggota f) Period and term of office of the
311
komite; committee members;
Page 683
Halaman
No Keterangan Description
Page
g) Pernyataan independensi komite; 314 g) Statement of committee independence;
h) Pendidikan dan/atau pelatihan yang h) Training and/or competency
telah diikuti dalam tahun buku (jika 316 improvement that have been followed
ada); dan in the fiscal year (if any);
i) Uraian tugas dan tanggung jawab; i) Description of duties and
309-310
responsibilities;
j) Pernyataan bahwa telah memiliki j) A statement that it has a guideline or
pedoman atau piagam (charter) 309 charter;
komite;
k) Kebijakan dan pelaksanaan tentang k) Policies and implementation of the
frekuensi rapat komite dan tingkat frequency of meetings and the level of
314-315
kehadiran anggota komite dalam attendance of members at the meeting;
rapat tersebut;
l) uraian singkat pelaksanaan kegiatan l) Brief description of the implementation
315
pada tahun buku; dan of activities in the fiscal year; and
m) dalam hal tidak dibentuk komite m) In the event that no nomination and
Perusahaan
nominasi dan remunerasi, Emiten remuneration committee is formed, the
memiliki
atau Perusahaan Publik cukup Issuer or Public Company is sufficient
Komite
mengungkapkan informasi to disclose the information as referred
Nominasi dan
sebagaimana dimaksud dalam to in letter i) to letter l) and disclose:
Remunerasi
huruf i) sampai dengan huruf l) dan
mengungkapkan:
The Company
(1) alasan tidak dibentuknya komite; has a (1) Reasons for not forming the
dan Nomination committee; and
and
(2) pihak yang melaksanakan fungsi (2) The party carrying out the
Compensation
nominasi dan remunerasi; nomination and remuneration
Committee
function;
8) Komite lain yang dimiliki Emiten atau 8) Other committees owned by Issuers or
Perusahaan Publik dalam rangka mendukung Public Companies in order to support the
fungsi dan tugas Direksi (jika ada) dan/atau functions and tasks of the Board of Directors
komite yang mendukung fungsi dan tugas (if any) and / or committees that support
Dewan Komisaris, paling sedikit memuat: the functions and duties of the Board of
Commissioners, the least contains:
a) Nama dan jabatannya dalam a) Name and position in the Committee;
347
keanggotaan komite;
b) Usia; b) Age;
c) Kewarganegaraan; 108-111,373 c) Citizenship;
d) Riwayat pendidikan; d) Education background;
e) Riwayat jabatan, meliputi informasi: e) History of position, including:
(1) Dasar hukum penunjukan (1) Legal basis for the appointment
347
sebagai anggota komite; as member of the committee;
(2) Rangkap jabatan, baik sebagai (2) Dual position, as member
anggota Dewan Komisaris, of Board of Commissioners,
anggota Direksi, dan/atau member of Board of Directors,
anggota komite serta jabatan and/or member of committee,
lainnya (jika ada); dan 108-111,373 and other position (if any); and
(3) Pengalaman kerja beserta (3) Working experience and period
periode waktunya baik di dalam in and outside the Issuer or Public
maupun di luar Emiten atau Company;
Perusahaan Publik;
f) Periode dan masa jabatan anggota f) Period and terms of office of the
347
komite; member of Audit Committee;
g) Pernyataan independensi komite; 108-111,373 g) Statement of committee independence;
h) Pendidikan dan/atau pelatihan yang h) Training and/or competency
telah diikuti dalam tahun buku (jika 348-349 improvement that have been followed
ada); dan in the fiscal year (if any); and
i) Uraian tugas dan tanggung jawab; i) Description of duties and
346
responsibilities;
Page 684
Halaman
No Keterangan Description
Page
j) Pernyataan bahwa telah memiliki 346 j) A statement that the committee has
pedoman atau piagam (charter) had guidelines or charters;
komite;
k) Kebijakan dan pelaksanaan tentang 347 k) Policies and implementation of the
frekuensi rapat komite dan tingkat frequency of committee meetings and
kehadiran anggota komite dalam the level of attendance of committee
rapat tersebut; members at the meeting; and
l) uraian singkat pelaksanaan kegiatan 348 l) A brief description of the committee’s
pada tahun buku; dan activities for the fiscal year;
9) Sekretaris Perusahaan, mencakup antara 9) Corporate Secretary, including:
lain:
a) nama; a) name;
b) domisili; b) domicile;
c) riwayat jabatan, meliputi informasi: c) history of position, including:
(1) dasar hukum penunjukan (1) legal basis for the appointment
366
sebagai Sekretaris Perusahaan; as Corporate Secretary; and
dan
(2) pengalaman kerja beserta (2) working experience and period
periode waktunya baik di dalam in and outside the Issuer or Public
maupun di luar Emiten atau Company;
Perusahaan Publik;
d) riwayat pendidikan; d) education background;
e) pendidikan dan/atau pelatihan yang e) education and/or training during the
366,368
diikuti dalam tahun buku; dan year under review; and
f) uraian singkat pelaksanaan tugas f) brief description on the implementation
Sekretaris Perusahaan pada tahun 369 of duties of the Corporate Secretary in
buku; the year under review;
10) Unit Audit Internal, mencakup antara lain: 10) Internal Audit Unit, among others including:
a) Nama kepala Unit Audit Internal; 373 a) Name of Head of Internal Audit Unit;
b) Riwayat jabatan, meliputi informasi: 373 b) History of position, including:
(1) Dasar hukum penunjukan (1) Legal basis for the appointment
sebagai Kepala Audit Internal; as Head of Internal Audit Unit;
374
dan and
(2) Pengalaman kerja beserta (2) Working experience and period
periode waktunya baik di dalam in and outside the Issuer or Public
373
maupun di luar Emiten atau Company;
Perusahaan Publik;
c) Kualifikasi atau sertifikasi sebagai c) Qualification or certification as
373,375
profesi audit internal (jika ada); internal auditor (if any);
d) Pendidikan dan/atau pelatihan yang d) Education and/or training during the
386-387
diikuti dalam tahun buku; year under review;
e) Struktur dan kedudukan Unit Audit e) Structure and position of Internal Audit
374
Internal; Unit;
f) Uraian tugas dan tanggung jawab; f) Description of duties and
378-379
responsibilities;
g) Pernyataan bahwa telah memiliki g) Statement that the Internal Audit Unit
pedoman atau piagam (charter) Unit 374 has already have Internal Audit Unit
Audit Internal; dan charter; and
h) Uraian singkat pelaksanaan tugas h) Brief description on the implementation of
379-386
Unit Audit Internal pada tahun buku; duty of Internal Audit Unit during the year
387-388
under review;
11) Uraian mengenai sistem pengendalian 11) Description on internal control system
internal (internal control) yang diterapkan adopted by the Issuer or Public Company,
oleh Emiten atau Perusahaan Publik, paling at least covering:
sedikit mengenai:
Page 685
Halaman
No Keterangan Description
Page
a) Pengendalian keuangan dan a) Financial and operational control, and
operasional, serta kepatuhan compliance to the other prevailing
393-396
terhadap peraturan perundang- rules; and
undangan lainnya; dan
b) Tinjauan atas efektivitas sistem b) Review on the effectiveness of internal
396-398
pengendalian internal; control systems;
c) Pernyataan Direksi dan/atau Dewan c) Statement of the Board of Directors and/or
Komisaris atas kecukupan sistem 399 Board of Commissioners on the adequacy
pengendalian internal; of the internal control system;
12) Sistem manajemen risiko yang diterapkan 12) Risk management system implemented by
oleh Emiten atau Perusahaan Publik, paling the company, at least includes:
sedikit mengenai:
a) Gambaran umum mengenai sistem a) General description about the
manajemen risiko Emiten atau 401-409 company’s risk management system
Perusahaan Publik; the Issuer or Public Company;
b) Jenis risiko dan cara pengelolaannya; b) Types of risk and the management;
410-415
dan and
c) Tinjauan atas efektivitas sistem c) Review the effectiveness of the risk
manajemen risiko Emiten atau 416-417 management system applied by the
Perusahaan Publik; Issuer or Public Company;
d) Pernyataan Direksi dan/atau Dewan d) Statement of the Board of Directors and/
Komisaris atau komite audit atas or the Board of Commissioners or the
418
kecukupan sistem manajemen risiko; audit committee on the adequacy of the
risk management system;
13) Perkara hukum yang berdampak material 13) Legal cases that have a material impact
yang dihadapi oleh Emiten atau Perusahaan faced by Issuers or Public Companies,
Publik, entitas anak, anggota Direksi dan subsidiaries, members of the Board of
anggota Dewan Komisaris (jika ada), antara Directors and members of the Board of
lain meliputi: Commissioners (if any), at least contain:
a) Pokok perkara/gugatan; a) Substance of the case/claim;
b) Status penyelesaian perkara/ b) Status of settlement of case/claim; and
gugatan; dan 427
c) Pengaruhnya terhadap kondisi Emiten c) Potential impacts on the condition of
atau Perusahaan Publik; the Issuer or Public Company;
14) Informasi tentang sanksi administratif yang 14) information about administrative sanctions
dikenakan kepada Emiten atau Perusahaan imposed to Issuer or Public Company,
Publik, anggota Dewan Komisaris dan members of the Board of Commissioners
427
Direksi, oleh otoritas Pasar Modal dan and the Board of Directors, by the Capital
otoritas lainnya pada tahun buku (jika ada); Market Authority and other authorities
during the last fiscal year (if any);
15) Informasi mengenai kode etik Emiten atau 15) information about codes of conduct of the
Perusahaan Publik meliputi: Issuer or Public Company, includes:
a) Pokok-pokok kode etik; 429 a) Key points of the code of conduct;
b) Bentuk sosialisasi kode etik dan upaya b) Socialization of the code of conduct
430
penegakannya; dan and enforcement; and
c) Pernyataan bahwa kode etik berlaku c) Statement that the code of conduct
bagi anggota Direksi, anggota Dewan is applicable for the Board of
Komisaris, dan karyawan Emiten atau 430 Commissioners, the Board of Directors,
Perusahaan Publik; and employees of the Issuer of Public
Company;
Page 686
Halaman
No Keterangan Description
Page
16) Uraian singkat mengenai kebijakan 16) A brief description of the policy of providing
pemberian kompensasi jangka panjang long-term performance-based compensation
berbasis kinerja kepada manajemen to management and/or employees owned
dan/atau karyawan yang dimiliki oleh by the Issuer or Public Company (if any),
Emiten atau Perusahaan Publik (jika ada), including the management stock ownership
antara lain berupa program kepemilikan program (MSOP) and/or program
saham oleh manajemen (management employee stock ownership (ESOP);
stock ownership program/MSOP) dan/
atau program kepemilikan saham oleh
karyawan (employee stock ownership
program/ESOP); Dalam hal pemberian
kompensasi berupa program kepemilikan
saham oleh manajemen (management stock
ownership program/MSOP) dan/atau
program kepemilikan saham oleh karyawan
(employee stock ownership program/ESOP),
informasi yang diungkapkan paling sedikit
memuat:
a) jumlah saham dan/atau opsi; 440 a) Number of shares and/or options;
b) jangka waktu pelaksanaan; 440-441 b) Implementation period;
c) persyaratan karyawan dan/atau c) Requirements for eligible employees
441
manajemen yang berhak; dan and/or management; and
d) harga pelaksanaan atau penentuan d) Exercise price or determination of
442
harga pelaksanaan; exercise price;
17) Uraian singkat mengenai kebijakan 17) A brief description of the information
pengungkapan informasi mengenai: disclosure policy regarding:
a) Kepemilikan saham anggota Direksi a) Share ownership of members of the
dan anggota Dewan Komisaris paling Board of Directors and members of
lambat 3 (tiga) hari kerja setelah the Board of Commissioners no later
361
terjadinya kepemilikan atau setiap than 3 (three) working days after
perubahan kepemilikan atas saham the occurrence of ownership or any
Perusahaan Terbuka; dan change in ownership of shares of a
Public Company; and
b) Pelaksanaan atas kebijakan dimaksud; b) Implementation of the policy;
18) Uraian mengenai sistem pelaporan 18) Description of whistleblowing system at the
pelanggaran (whistleblowing system) di Issuer or Public Company (if any), among
Emiten atau Perusahaan Publik (jika ada), others include:
antara lain meliputi:
a) Cara penyampaian laporan a) Mechanism for violation reporting;
431-432
pelanggaran;
b) Perlindungan bagi pelapor; 432 b) Protection for the whistleblower;
c) Penanganan pengaduan; 432 c) Handling of violation reports;
d) Pihak yang mengelola pengaduan; d) Unit responsible for handling of
432
dan violation report; and
e) Hasil dari penanganan pengaduan, e) Results from violation report handling,
paling sedikit meliputi: at least includes:
(1) Jumlah pengaduan yang masuk (1) Number of complaints received
dan diproses dalam tahun buku; 434 and processed during the fiscal
dan year; and
(2) Tindak lanjut pengaduan; 434 (2) Follow up of complaints;
19) Uraian mengenai kebijakan anti korupsi 19) A description of the anti-corruption policy
Emiten atau Perusahaan Publik, paling of the Issuer or Public Company, at least
sedikit memuat: containing:
a) program dan prosedur yang dilakukan a) Programs and procedures
dalam mengatasi praktik korupsi, implemented in overcoming corrupt
balas jasa (kickbacks), fraud, suap 435-436 practices, kickbacks, fraud, bribery
dan/atau gratifikasi dalam Emiten and/or gratification in Issuers or
atau Perusahaan Publik; dan Public Companies; and
b) pelatihan/sosialisasi anti korupsi b) Anti-corruption training/socialization
kepada karyawan Emiten atau 433 to employees of Issuers or Public
Perusahaan Publik; Companies;
Page 687
Halaman
No Keterangan Description
Page
20) Penerapan atas Pedoman Tata Kelola 20) Implementation of the Guidelines of
Perusahaan Terbuka bagi Emiten yang Corporate Governance for Public
menerbitkan Efek Bersifat Ekuitas atau Companies for Issuer issuing Equity-based
Perusahaan Publik, meliputi: Securities or Public Company, including:
a) pernyataan mengenai rekomendasi a) statement regarding recommendation
449-513
yang telah dilaksanakan; dan/atau that have been implemented; and/or
b) penjelasan atas rekomendasi yang b) description of recommendation that
belum dilaksanakan, disertai alasan have not been implemented, along
449-513
dan alternatif pelaksanaannya (jika with the reason and alternatives of
ada); implementation (if any);
h. Tanggung Jawab Sosial dan Lingkungan Emiten h. Social and Environmental Responsibility of the
atau Perusahaan Publik Issuer or Public Company
1) Informasi yang diungkapkan dalam bagian 1) The information disclosed in the social
tanggung jawab sosial dan lingkungan and environmental responsibility section
merupakan Laporan Keberlanjutan is a Sustainability Report as referred to in
Buku Terpisah
(Sustainability Report) sebagaimana the Financial Services Authority Regulation
Separate
dimaksud dalam Peraturan Otoritas Jasa Number 51/POJK.03/2017 concerning
Books
Keuangan Nomor 51/POJK.03/2017 the Implementation of Sustainable Finance
tentang Penerapan Keuangan Berkelanjutan for Financial Services Institutions, Issuers,
bagi Lembaga Jasa Keuangan, Emiten, dan and Public Companies, at at least includes:
Perusahaan Publik, paling sedikit memuat:
a) penjelasan strategi keberlanjutan; a) Explanation of the sustainability
-
strategy;
b) ikhtisar aspek keberlanjutan (ekonomi, b) Overview of sustainability aspects
-
sosial, dan lingkungan hidup); (economic, social, and environmental);
c) profil singkat Emiten atau Perusahaan c) Brief profile of the Issuer or Public
-
Publik; Company;
d) penjelasan Direksi; - d) Explanation of the Board of Directors;
e) tata kelola keberlanjutan; - e) Sustainability governance;
f) kinerja keberlanjutan; - f) Sustainability performance;
g) verifikasi tertulis dari pihak g) Written verification from an
-
independen, jika ada; independent party, if any;
h) lembar umpan balik (feedback) untuk h) Feedback sheet for readers, if any;
-
pembaca, jika ada; dan and
i) anggapan Emiten atau Perusahaan i) The response of the Issuer or Public
Publik terhadap umpan balik laporan - Company to the previous year’s report
tahun sebelumnya; feedback;
2) Laporan Keberlanjutan sebagaimana 2) The Sustainability Report as referred to in
dimaksud pada angka 1), harus disusun number 1) must be prepared in accordance
sesuai Pedoman Teknis Penyusunan Laporan with the Technical Guidelines for the
Keberlanjutan (Sustainability Report) Bagi Preparation of a Sustainability Report for
-
Emiten dan Perusahaan Publik sebagaimana Issuers and Public Companies as contained
tercantum dalam Lampiran II yang in Appendix II which is an integral part of
merupakan bagian tidak terpisahkan dari this Financial Services Authority Circular
Surat Edaran Otoritas Jasa Keuangan ini; Letter;
3) Informasi Laporan Keberlanjutan 3) Information on the Sustainability Report in
-
(Sustainability Report) pada angka 1) dapat: number 1) can:
a) diungkapkan pada bagian lain yang a) Disclosed in other relevant sections
relevan di luar bagian tanggung outside the Social and Environmental
jawab sosial dan lingkungan, seperti Responsibility section, such as the
penjelasan Direksi terkait Laporan - Directors’ explanation regarding the
Keberlanjutan diungkapkan dalam Sustainability Report disclosed in the
bagian terkait Laporan Direksi; dan/ section related to the Directors’ Report;
atau and/or
b) merujuk pada bagian lain di luar b) Refers to other sections outside
bagian tanggung jawab sosial dan the Social and Environmental
lingkungan dengan tetap mengacu Responsibility section by still referring
pada Pedoman Teknis Penyusunan to the Technical Guidelines for the
Laporan Keberlanjutan (Sustainability Preparation of Sustainability Reports
Report) Bagi Emiten dan Perusahaan - for Issuers and Public Companies
Publik sebagaimana tercantum dalam as listed in Appendix II which is an
Lampiran II yang merupakan bagian integral part of this Financial Services
tidak terpisahkan dari Surat Edaran Authority Circular Letter, such as the
Otoritas Jasa Keuangan ini, seperti profile of the Issuer or Public Company;
profil Emiten atau Perusahaan Publik;
Page 688
Halaman
No Keterangan Description
Page
4) Laporan Keberlanjutan (Sustainability 4) The Sustainability Report as referred to
Report) sebagaimana dimaksud pada in number 1) is an inseparable part of
angka 1) merupakan bagian yang tidak the Annual Report but can be presented
-
terpisahkan dari Laporan Tahunan namun separately from the Annual Report;
dapat disajikan secara terpisah dengan
Laporan Tahunan;
5) Dalam hal Laporan Keberlanjutan disajikan 5) In the event that the Sustainability Report
secara terpisah dengan Laporan Tahunan, is presented separately from the Annual
-
informasi yang diungkapkan dalam Laporan Report, the information disclosed in the
Keberlanjutan dimaksud harus: Sustainability Report must:
a) memuat seluruh informasi a) Contains all the information as referred
sebagaimana dimaksud pada angka - to in number 1); and
1); dan
b) disusun sesuai Pedoman Teknis b) Prepared in accordance with
Penyusunan Laporan Keberlanjutan the Technical Guidelines for the
(Sustainability Report) Bagi Emiten Preparation of a Sustainability Report
dan Perusahaan Publik sebagaimana for Issuers and Public Companies
-
tercantum dalam Lampiran II yang as listed in Appendix II which is an
merupakan bagian tidak terpisahkan integral part of this Financial Services
dari Surat Edaran Otoritas Jasa Authority Circular Letter;
Keuangan ini;
6) Dalam hal Laporan Keberlanjutan disajikan 6) In the event that the Sustainability Report
secara terpisah dengan Laporan Tahunan, is presented separately from the Annual
maka dalam bagian tanggung jawab sosial Report, then the Social and Environmental
dan lingkungan memuat informasi bahwa Responsibility section contains information
informasi mengenai tanggung jawab sosial - that information on Social and Environmental
dan lingkungan telah diungkapkan dalam Responsibility has been disclosed in the
Laporan Keberlanjutan yang disajikan Sustainability Report which is presented
secara terpisah dari Laporan Tahunan; dan separately from the Annual Report; and
7) Penyampaian Laporan Keberlanjutan 7) Submission of the Sustainability Report
(Sustainability Report) yang disajikan which is presented separately from the
secara terpisah dengan Laporan Tahunan - Annual Report must be submitted together
harus disampaikan bersamaan dengan with the Annual Report.
penyampaian Laporan Tahunan.
i Laporan Keuangan Tahunan yang Telah Diaudit i Audited Annual Financial Statement
Laporan keuangan tahunan yang dimuat dalam Financial Statements included in Annual Report
Laporan Tahunan disusun sesuai dengan Standar should be prepared in accordance with the
Akuntansi Keuangan di Indonesia dan telah diaudit Financial Accounting Standards in Indonesia and
oleh Akuntan. Laporan keuangan dimaksud memuat audited by an Accountant. The said financial
pernyataan mengenai pertanggungjawaban atas statement should be included with statement of
laporan keuangan sebagaimana diatur dalam 528-664 responsibility for financial report as stipulated
peraturan perundang-undangan di sektor Pasar in the legislations in the Capital Markets sector
Modal yang mengatur mengenai tanggung jawab governing the responsibility of the Board of
Direksi atas laporan keuangan atau peraturan Directors on the financial report or the legislations
perundang-undangan di sektor Pasar Modal yang in the Capital Markets sector governing the
mengatur mengenai laporan berkala Perusahaan periodic reports of securities company in the event
Efek dalam hal Emiten merupakan Perusahaan the Issuer is a Securities Company; and
Efek; dan
j Surat Pernyataan Anggota Direksi dan Anggota j Letter of Statement of the Board of Directors
Dewan Komisaris tentang Tanggung Jawab atas and the Board of Commissioners regarding the
Laporan Tahunan Responsibility for Annual Reporting
Surat pernyataan anggota Direksi dan anggota Letter of statement of the Board of Directors
Dewan Komisaris tentang tanggung jawab atas and the Board of Commissioners regarding
Laporan Tahunan disusun sesuai dengan format the responsibility for Annual Reporting should
Surat Pernyataan Anggota Direksi dan Anggota 526-527 be prepared according to the format of letter
Dewan Komisaris tentang Tanggung Jawab of statement of member of Board of Directors
atas Laporan Tahunan sebagaimana tercantum and the Board of Commissioners regarding the
dalam Lampiran yang merupakan bagian tidak responsibility for Annual Reporting as attached
terpisahkan dari Surat Edaran Otoritas Jasa in the Attachment, which is an integral part of
Keuangan ini. this Circulation Letter of the Financial Services
Authority.
Page 689
LEADING THE WAY PT PERTAMINA GEOTHERMAL ENERGY TBK Grha Pertamina – Tower Pertamax 7th Floor Jl. Medan Merdeka Timur No. 11 - 13 Central Jakarta 10110 Indonesia
Names mentioned 165 people and organisations named in the text · linked when the evidence is strong
unresolved
org
Financial Services Authority
p.13 ×3
unresolved
org
PT BRI Danareksa Sekuritas
p.23
unresolved
org
PT Sinarmas Sekuritas
p.23
unresolved
org
PT Valbury Asia Sekuritas
p.23
unresolved
org
PT Ina Sekuritas Indonesia
p.23
unresolved
org
Indonesia Stock Exchange
p.24 ×3
unresolved
org
Yayasan Keanekaragaman Hayati Indonesia
p.24
unresolved
org
Yayasan KEHATI
p.24 ×2
unresolved
org
Singapore Exchange Securities Trading Limited
p.25
unresolved
org
Kementerian Lingkungan Hidup dan Kehutanan
p.26 ×2
unresolved
org
Ministry of Environmental and Forestry
p.26
unresolved
org
Pemerintah Kabupaten Tanggamus
p.26
unresolved
org
Pemerintah Provinsi Lampung
p.26
unresolved
org
Pemerintah Provinsi Jawa Barat
p.28 ×2
unresolved
org
PT SUCOFINDO (PERSERO)
p.29 ×3
unresolved
org
Ministry of Energy Transition and Water The Winner of ASEAN Renewable Energy Project Awards
p.30
unresolved
org
Kementerian Energi dan Sumber Daya Mineral
p.30 ×2
unresolved
org
Ministry of Energy and Mineral Resources
p.30 ×3
unresolved
org
PT Wahana Kendali Mutu
p.31 ×2
unresolved
org
TUV SUD PSB Pte Ltd
p.32
unresolved
org
PT Pertamina Gas Bumi
p.35
unresolved
org
PT Pertamina Gas
p.35
unresolved
org
Ministry of Environment and Forestry
p.36
unresolved
org
Menteri Koordinator Bidang Perekonomian RI Airlangga Hartarto
p.36
unresolved
org
Minister of Agriculture and Forestry of Turkey
p.36
unresolved
org
Milik Negara
p.39 ×2
unresolved
org
PT PLN (Persero)
p.39 ×20
unresolved
org
Kementerian PPN
p.42
unresolved
org
Ministry of National Development Planning
p.42
unresolved
org
PT PLN Indonesia Power
p.44 ×4
unresolved
org
Pusat Statistik
p.50 ×2
unresolved
org
Menteri BUMN
p.55
unresolved
org
Ministry
p.57
unresolved
org
PT Pertamina Geothermal
p.61 ×5
unresolved
org
Energi Tbk
p.61
unresolved
org
Ministry of SOEs Kementerian BUMN No. SK-
p.72
unresolved
org
Geothermal Energy Tbk
p.73 ×5
unresolved
org
PT Pertamina Geothermal Energy Lawu
p.80
unresolved
org
PT Geothermal Energi Seulawah
p.80 ×6
unresolved
org
PT Pertamina Geothermal Energi Lawu
p.80 ×2
unresolved
org
PT Pertamina Geothermal Energy Kotamobagu
p.80 ×5
unresolved
org
PT Pertamina Power Indonesia. Pembentukan Subholding PNRE
p.80
unresolved
org
Menteri Hukum dan Hak Asasi Domisili
p.81
unresolved
org
Menteri Hukum Tanggal Pendirian
p.81
unresolved
org
Minister of Law and Human Rights
p.81
unresolved
org
Minister of Law
p.81
unresolved
org
Masdar Indonesia Solar Holdings RSC Limited
p.81
unresolved
org
Energy Tbk
p.81 ×5
unresolved
org
PT Pembangunan Aceh
p.83 ×4
unresolved
org
Energies Holdings Indonesia Ltd.
p.85
unresolved
org
PT Cahaya Anagata Energy
p.85 ×4
unresolved
org
PT Dizamatra
p.90
unresolved
org
PT Dizamatra Powerindo.
p.90
unresolved
org
Koordinasi Penanaman Modal No. Bumi
p.96
unresolved
org
Menteri ESDM
p.96 ×2
unresolved
org
Menteri Energi dan Sumber Daya Mineral Nomor Usaha Gabungan
p.96
unresolved
org
Chevron New Energies Holdings Indonesia Ltd.
p.96 ×2
unresolved
org
Minister of Energy and Mineral Resources
p.96
unresolved
person
H. Catur Hendro U. S. Vice
p.98
unresolved
person
Sekertaris
· Komisaris
p.99
unresolved
person
Nominasi
· Komisaris Independen
p.99 ×2
unresolved
person
Nomination
· Member
p.99
unresolved
person
Krisdiansyah Harahap
· Member
p.99
unresolved
person
Committee
· Member
p.99
unresolved
org
Kementerian Energi dan Sumber Daya Work Experience
p.102
unresolved
org
Direktorat Jenderal Energi Baru Terbarukan dan Konservasi Energi
p.102 ×2
unresolved
org
Kementerian Energi
p.102 ×2
unresolved
person
Ketenagalistrikan
· Komisaris Utama
p.102
unresolved
org
Kementerian Energi dan Sumber Daya
p.102
unresolved
org
Directorate General of New
p.102
unresolved
org
Ministry of Energy and Mineral Resources of Indonesia
p.102 ×2
unresolved
org
PT Pertamina Concurrent Positions
p.103 ×3
unresolved
org
Ministry of Energy
p.103
unresolved
person
Independensi
· Komisaris
p.103 ×6
unresolved
org
PT Pertamina Hulu Indonesia
p.104 ×2
unresolved
org
PT Pertamina Internasional EP
p.104 ×2
unresolved
person
Rangkap
· Direktur Utama
p.104
unresolved
org
PT Pertamina Power Indonesia. Does
p.104
unresolved
person
Riwayat
· Direktur
p.106
unresolved
org
Departemen Keanggotaan
p.106
unresolved
org
PT Fujitsu Indonesia
p.107
unresolved
person
Independence Statement
· Komisaris
p.107
unresolved
org
PT Pertamina President Director Geothermal Energy
p.108
unresolved
org
PT Pertamina Geothermal Concurrent Positions
p.109 ×4
unresolved
org
PT Medco Cahaya Geothermal
p.110 ×2
unresolved
org
PT Sarula Operation Ltd.
p.110 ×2
unresolved
org
PT Hitay Energy Holdings
p.110 ×2
unresolved
org
PT Supreme Energy Corporation
p.110
unresolved
org
Magma Nusantara Ltd
p.110 ×2
unresolved
org
PT Supreme Julfi Hadi
p.110
unresolved
org
Energy Corporation
p.110
unresolved
org
Onstar Express Pte. Ltd.
p.112
unresolved
person
Training
· Direktur Keuangan
p.112 ×2
unresolved
org
PT Pertamina Work Experience
p.113
unresolved
org
PT Jagad Prima Mandiri
p.114
unresolved
org
Kementerian ESDM
p.114 ×2
unresolved
org
Ministry of EMR
p.114 ×2
unresolved
org
PT Transformasi Inovasi Keuangan PGE
p.114
unresolved
org
PGE Tbk
p.114 ×8
unresolved
org
PT Transformasi Keuangan PGE
p.114
unresolved
org
PT Transformasi PGE Financial Statements
p.114
unresolved
person
Partisipasi
· Komisaris
p.118
unresolved
org
Kementerian BUMN RI
p.122
unresolved
org
Indonesia Battery Corporation
p.124
unresolved
org
Battery Corporation
p.124
unresolved
person
Rida Mulyana
· President Commissioner
p.124 ×2
unresolved
person
Abdi Mustakim
· Commissioner
p.124
unresolved
person
Reni Mayerni
· Commissioner
p.124
unresolved
person
Hafidh Nazif
· Commissioner
p.124
unresolved
person
Ronny Ariuly Hutahayan
· Commissioner
p.124
unresolved
org
Dana Pensiun Nasional
p.127 ×2
unresolved
org
Dana Pensiun Pertamina
p.127
unresolved
org
Bnymsanv Re Sanvdub Re Ishares II Public LTD
p.127
unresolved
org
PT Buana Bumi Energi
p.127
unresolved
org
Reksa Dana SAM Dana Cerdas
p.127
unresolved
org
PT Prudential Sharia Life Assurance
p.127
unresolved
org
Dana Pensiun Telkom
p.127
unresolved
org
Consolidated Financial Statements Geothermal Energi Tbk
p.140
unresolved
org
Purwanto Susanti
p.140 ×2
unresolved
org
PSS
p.140
unresolved
org
Menteri Keuangan
p.140
unresolved
org
Minister of Finance Decree KMK.
p.140
unresolved
org
Ministry of Environment
p.161
Extraction attempts how the parser did, and what it refused
Nothing structured was extracted from this document — the attempts below say why.
No extraction attempted yet.