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PRESS RELEASE
FOR IMMEDIATE RELEASE
March 26, 2026


           AMMAN FY 2025 EARNINGS RESULTS – Q4 RECORD
    ADVANCING INTO A FULLY INTEGRATED COPPER AND GOLD PRODUCER


FY 2025 Key Highlights
•   This year’s performance reflects transitional dynamics, as we advanced toward integrated
    copper and gold operations while entering Phase 8, characterized by typically lower ore
    grades in the early years.
•   Concentrate production totaled 446,563 dry metric tonnes (“dmt”), containing 209 million
    pounds (“Mlbs”) of copper and 102,758 ounces (“oz”) of gold.
•   Production surpassed full year guidance by 4% for concentrate and 14% for gold, while copper
    was 8% below target.
•   Copper cathode production reached 79,849 tonnes (equivalent to 176 Mlbs), with sales volume
    totaling 75,943 tonnes (equivalent to 167 Mlbs). Refined gold production reached 124,723 oz,
    with sales volume of 114,149 oz.
•   On October 31, 2025, AMMAN obtained a concentrate export permit with a quota of 480,000
    dmt, valid for six months. As a result, we sold 151,353 dmt of copper concentrate in Q4 2025,
    containing 69 Mlbs of copper and 55,402 oz of gold.
•   Net sales were US$1,847 million, with performance strengthening toward year-end —
    following a challenging 1H, sales improved in Q3 and accelerated to a record high in Q4,
    supported by improved smelting and refining operations and concentrate sales.
•   EBITDA reached US$1,057 million, representing a 57% margin, while net income reached
    US$258 million, with a 14% margin.


Jakarta, March 26, 2026 – PT Amman Mineral Internasional Tbk IDX: AMMN) (“AMMAN,” the
“Company,” or “We”) today announced its FY 2025 financial and operational results. Through our
subsidiaries, PT Amman Mineral Nusa Tenggara and PT Amman Mineral Industri, we are now a
fully integrated mining-to-refining company and constitutes the second largest producer of copper
and gold in Indonesia.


“FY 2025 was a pivotal transitional year for AMMAN. The move into Phase 8 mining, characterized
by lower ore grades, alongside the smelter ramp-up, created short-term operational pressures.
Nevertheless, we delivered key strategic milestones, completing our transformation into a fully
integrated copper and gold producer.




                                                                                                    1
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During the year, our smelter experienced temporary shutdowns in July and August 2025 due to
repairs on the Flash Converting Furnace and Sulfuric Acid Plant. These were highly complex
maintenance activities that we needed to ensure equipment availability and stable operations.
Following the completion of the repairs, smelter operations stabilized toward year-end. In parallel,
we secured a temporary concentrate export permit in late October 2025, providing more flexibility
during the smelter’s ramp-up phase.

Importantly, we achieved key downstream milestones, including first copper cathode production
in March 2025 and first refined gold production in July 2025. These milestones represent
structural progress toward capturing greater value across the supply chain.

On the mining side, operations remained disciplined and aligned with the mine plan. While total
material mined declined in line with sequencing, we increased fresh ore access as planned from
Phase 8. Despite lower grades during this transition period, we exceeded full-year guidance for
concentrate and gold production.

FY 2025 financial performance reflects the impact of the concentrate export ban earlier in the year
and the smelter ramp-up during the year. Nevertheless, we generated US$1,847 million in net
sales, with performance strengthening in the latter part of the year and Q4 contributing
approximately 70% of the full-year sales as copper smelter and Precious Metal Refinery (“PMR”)
operations stabilized. EBITDA reached US$1,057 million, representing a 57% margin. The net
income of US$258 million with a 14% margin, primarily reflects the impact of transitions this year,
including the start of Phase 8 mining and smelter ramp-up challenges, resulting in temporary
margin pressure.

Looking ahead, our priority in 2026 is to ensure stable and sustainable smelter performance.
At the same time, our major expansion projects—including the Combined Cycle Power Plant
(“CCPP”), LNG regasification facility, and processing plant expansion—remain on track and will
further strengthen our operational resilience and cost competitiveness. Despite short-term
operational headwinds, the long-term fundamentals for copper and gold remain compelling. We
remain focused on disciplined execution, cost optimization, and operational excellence to deliver
sustainable value for our shareholders and stakeholders.” said Arief Sidarto, President Director of
AMMAN.




                                                                                                       2
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Key Operational and Financial Highlights 1
                                                                   FY 2025            FY 2024          % Change
    Mining operations
     Materials mined (million tonnes)                                     293                322               (9%)
     Mill throughput (million tonnes)                                      32                 39              (18%)
    Concentrate
     Production (dry metric tons)                                   446,563             755,083               (41%)
     Sales (dry metric tons)                                         151,353            570,837               (73%)
    Copper (in concentrate)
     Production (million pounds)                                         209                 395             (47%)
     Sales (million pounds)                                                69                288             (76%)
     Selling price – net (US$/pound)2                                    5.10                4.15              23%
     Adjusted C1 Cost (US$/pound sold)3                                (0.54)              (3.37)              84%
    Gold (in concentrate)
     Production (ounces)                                             102,758           802,749                (87%)
     Sales (ounces)                                                   55,402            611,262                (91%)
     Selling price – net (US$/ounce)2                                  4,204              2,397                 75%
    Smelting and refining operations
    Copper cathodes
     Production (tonnes)                                              79,849                     -               nm
     Sales (tonnes)                                                   75,943                     -               nm
     Selling price – net (US$/tonne)                                  10,609                     -               nm
    Refined gold
     Production (ounces)                                            124,723                 -                    nm
     Sales (ounces)                                                  114,149                -                    nm
     Selling price – net (US$/ounce)                                   3,974                -                    nm
                                                                   FY 2025            FY 2024          % Change
    Financial metrics (US$ millions)
    Net sales                                                           1,847              2,664              (31%)
    EBITDA                                                              1,057              1,426             (26%)
    Net income/(loss)4                                                    258                642             (60%)
    Capex                                                               1,372              1,792             (23%)
                                                                    Dec-25             Dec-24          % Change
    Cash and cash equivalents                                           677                754             (10%)
    Total assets                                                     13,871              11,121              25%
    Debt                                                              6,432              4,285              50%
    Net debt                                                          5,756              3,531               63%
    Total equity                                                      5,431              5,248                3%




1
  Nm means not meaningful
2
  Net of treatment and refining charges and mark-to-market price adjustments from previous shipments
3
  Adjusted for net movement of deferred stripping costs and net movement in stockpiles and concentrate inventories
4
  Net income includes IUPK PNBP, a non-tax government revenue for a special mining business license




                                                                                                                       3
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Production


The materials mined in FY 2025 declined 9% year-over-year (“YoY”), in line with the mine plan
sequencing. The decline is a natural development, given that the volume of materials mined in
2024 marked a peak level that is expected to remain among the highest in Batu Hijau’s life of mine.


Mining activities during the year remained focused on waste removal and extraction of the outer
halo of the ore body of Phase 8, characterized by low to medium grade ore. Fresh ore mined
increased by 60% YoY; however, the ore grades were lower compared to prior year. As a result
of longer haul distances, higher fuel prices, and lower total materials mined, FY 2025 mining costs
per unit rose 10% YoY, from US$2.24/t to US$2.54/t.


Concentrate production reached 446,563 dry metric tons in 2025, down 41% YoY. Copper and
gold production totaled 209 million pounds and 102,758 ounces, respectively, representing YoY
declines of 47% and 87%. Lower metal output compared to last year was anticipated, as mill feed
during transition period primarily comprised stockpiles and low-grade Phase 8 fresh ore.


Importantly, operational delivery remained solid relative to guidance. Full year concentrate
production exceeded guidance by 4% and gold production surpassed guidance by 14%, while
copper production was 8% below target.


Downstream production marked key milestones during the year. Copper cathode production
commenced in late March 2025, with total FY 2025 smelter output reaching 79,849 tonnes,
equivalent to 176 million pounds. Refined gold production from PMR began in mid-July 2025,
delivering 124,723 ounces for the year.


Net Sales

Starting in 2025, the Company was permitted to sell only finished metal products, such as copper
cathodes and refined gold, rather than concentrate as in 2024. However, we obtained a temporary
concentrate export permit on 31 October 2025, valid for six months.


This transition resulted in lower net sales of US$1,847 million in FY 2025, compared to
approximately US$2,664 million in the same period last year around. This comprised US$806
million from copper cathodes, which commenced in Q2, US$454 million from refined gold, which
began in Q3, and US$587 million from concentrate sold in Q4. Sales performance was back-end
loaded, with Q4 contributed around 70% of FY 2025 net sales, driven by stabilized smelting and
refining operations and concentrate sales.




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EBITDA


2025 EBITDA was US$1,057 million with a 57% margin, compared to US$1,426 million with a
54% margin in 2024. While absolute EBITDA has decreased, the higher margin reflects our
successful pivot toward downstream operations, disciplined cost and efficiency measures, and
stronger realized metal prices.


This shift involves significant investments in smelter, PMR, and supporting facilities, including
CCPP and processing plant expansion. Notably, while increased depreciation from these assets
impacts our bottom line, our core operational profitability (EBITDA margin) remains robust.


Net Income/(Loss)


The Company reported net income of US$258 million with a 14% margin in 2025, compared to
US$642 million with a 24% margin in 2024. The decline is consistent with the factors outlined
above.

Capital Expenditure


Total capital expenditure in 2025 declined 23% YoY, from US$1,792 million in 2024 to US$1,372
million in 2025, reflecting the advancement and nearing completion of major expansion projects.


Adjusted C1 Cash Cost


C1 cash cost represents the costs of mining and processing our primary metal product, copper,
brought to a state ready for delivery to customers, net of by-products credits from gold, silver, and
sulfuric acid contained in concentrate and refined products sold.


Adjusted C1 cash cost increased from US$(3.37) per pound sold in 2024 to US$(0.54) per pound
sold in 2025, primarily due to lower by-product credits compared to last year. The higher unit cash
cost also reflects lower copper pounds sold, as all metal production declined during the transition
from Phase 7 to Phase 8 mining and the concurrent ramp-up of the smelter. Despite these
temporary impacts, we continue to expect that the Batu Hijau mine will remain among the lowest-
cost copper producers globally over the long term, based on C1 cash cost.




                                                                                                        5
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Debt


As of December 31, 2025, total debt was US$6,432 million, up 50% YoY. With consolidated cash
and cash equivalents of US$677 million, net debt totaled US$5,756 million. The debt maturity
profile is strategically structured to align with expansion plans, featuring a back-ended repayment
schedule that supports long term growth.


                                                       Outstanding balance
                                                           (US$ millions)
                     Working capital loan                                 387
                     Term loan                                         6,045
                       Short-term portion                                 165
                       Long-term portion                                5,881
                     Total debt                                        6,432
                     Cash and cash equivalents                            677
                     Total net debt                                    5,756
                     Total equity                                       5,431




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Elang Development Project Updates


Our JORC Code-compliant reserves and resource estimates have been updated as of December
31, 2024, and approved by an independent Competent Person at AMC Consultants Pty Ltd.


JORC-compliant reserves and resources estimate as of 31 December 2024
                                                                        Grades              Contained
                                                                                                    Au
                                                  Total (Mt)   Cu (%)   Au (g/t)   Cu (Blb)
                                                                                                (Moz)
    Stockpiles                                         254      0.32       0.11        1.78       0.92
    Phase 7                                              9      0.62      0.97         0.13       0.29
    Phase 8                                            442      0.38      0.36        3.70         5.11
    Batu Hijau total ore reserves                      705      0.36      0.28        5.61       6.32
    Batu Hijau total mineral resources 5             2,052      0.24      0.10      10.85        6.70
    Elang total ore reserves                         2,526      0.32      0.33       17.78      26.44
    Elang total mineral resources 5                  1,294      0.26      0.21        7.35       8.66

The 2025 Feasibility Study (“FS”) for Elang has been completed. The Elang mine will utilize existing
Batu Hijau infrastructure, including mineral processing plants, power facilities, the Benete port and
jetties, smelter, and the primary access road (“PAR”) connecting Benete to Batu Hijau pit.


Ore from the Elang coarse ore stockpile will be transported to Batu Hijau processing plants via
a 54 km overland conveyor (“OLC”) system. The PAR will be extended to Elang to serve as the
main logistics route for equipment, materials, and the workforce from the port, as well as to provide
construction and maintenance access for the OLC and high-voltage transmission line.


While the 2025 FS has been finalized, revisions and optimization study are ongoing, including the
relocation of the primary crushing station based on geotechnical assessment, redesign of
sediment control ponds and PAR to reduce construction costs, and waste dump optimization to
lower mining costs.




5
    Mineral resources exclusive of ore reserves




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Company Outlook


Our FY 2026 mining guidance remains unchanged. We expect to produce 900,000 dmt of
concentrate, containing 485 Mlbs (equivalent to 220,000 tonnes) of copper and 579,000 ounces
of gold. Of the total concentrate production, approximately 500,000 dmt of concentrate is
expected from the existing mill, with the remaining 400,000 dmt from the new mill, subject to the
commissioning progress. As with any new facility ramp-up, this carries inherent execution risk.


Smelter operations continued to improve toward the end of 2025 following the completion of the
repair. AMMAN secured a temporary concentrate export permit on October 31, 2025, with a quota
of 480,000 dmt valid for six months. This provides operational flexibility and serves as a
contingency buffer should smelter ramp-up faces challenges.


We expect some variability in our concentrate production profile as we balance concentrate output
with smelter ramp‑up. Ensuring stable smelter utilization remains the priority, which may influence
timing of concentrate inventory and sales.


At this stage, we are not providing FY 2026 production guidance for copper cathode and refined
gold, as our priority remains achieving stable and sustainable smelter performance.


 Production guidance                                                                     FY 2026
 Mining operations
 Copper production in concentrate (million pounds)                                             485
 Copper production in concentrate (tonnes)                                                220,000
 Gold production in concentrate (ounces)                                                  579,000
 Concentrate production (dry metric tons)                                                 900,000


Our guidance reflects our expectations as of the date of this press release and is subject to change.


                                                ###




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About AMMAN


PT Amman Mineral Internasional Tbk (IDX: AMMN) is the largest producer of copper and gold
listed on the Indonesian Stock Exchange. Through our subsidiary, PT Amman Mineral Nusa
Tenggara (“AMNT”), we hold the concession for and operate the Batu Hijau mine, Indonesia’s
second-largest copper-gold mine. AMNT also processes ore into concentrate and engages in
exploration activities at the Elang project. Our copper smelter and Precious Metal Refinery (“PMR”)
are managed by another subsidiary, PT Amman Mineral Industri (“AMIN”). With the smelter and
refinery facilities now in operation, AMMAN has become a fully integrated mining-to-refining
company, strategically located near key end markets in Asia. We are dedicated to leading with
sustainable practices and creating a legacy of excellence for Indonesia.


Disclaimer


This press release and its information have been prepared by PT Amman Mineral Internasional
Tbk. (“Company” or “AMMN”) solely for information purposes only and does not constitute a
recommendation regarding any securities of the Company. The information contained in this
document should be considered in the context of the circumstances prevailing at the time and is
subject to change without notice and will not be updated to reflect material developments that may
occur after the date hereof. Certain statements in these materials constitute forward-looking
statements and information with respect to the future financial condition, results of operations and
certain plans and objects of management of the Company and the Group (“Forward-Looking
Statements”). Such Forward-Looking Statements are made based on management’s current
expectations or beliefs as well as assumptions made by, and information currently available to,
management. Neither the Company nor any of its advisers assumes any responsibility to update
Forward-Looking Statements or to adapt them to future events or developments. This document
is not financial, legal, tax, or other product advice.


Contacts


Media:
Kartika Octaviana
communications@amman.co.id


Investor Relations:
Richard Fischer
investor.relations@amman.co.id


Corporate Secretary:
Vemmy Febrianti
corporate.secretary@amman.co.id




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Additional Information


Expansion Projects


Smelter


The annual input capacity of our copper smelter and PMR facilities is 900,000 dry metric tons of
concentrate, sourced from the Batu Hijau and future Elang mines. The copper smelter is designed
to produce up to 220,000 tonnes of copper cathode per year and 830,000 tonnes of sulfuric acid
per year. The PMR facility will process approximately 970 tonnes of anode slime per year from the
smelter, yielding an estimated 579 kilo ounces of refined gold, 1.8 million ounces of refined silver,
and 77 tonnes of selenium.


Power Expansion


At the same time, we are constructing a 450 MW CCPP along with supporting LNG facilities,
reaffirming our commitment to reducing environmental impact. The commissioning of these
facilities will occur in stages. We received the first LNG cargo from Pertamina in September 2025.
The regasification plant is now operational. As of December 2025, CCPP Block 2 is undergoing
hot commissioning and CCPP Block 1 continues to provide uninterrupted power to the smelter.


Processing Plant Expansion


We are also expanding our processing plant to increase its input capacity to 85 million tons per
year, more than doubling our current capacity. This expansion will enable us to process ore from
Batu Hijau’s Phase 8 and the future Elang mine, addressing the growing demand for our products.
The processing plant expansion is expected to be completed by Q3 2026. Commissioning to start
with first ore into mills in July 2026.




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Regulatory Updates

•   In April 2025, the government introduced an unexpected increase in royalties, with rates
    varying based on global commodity prices. Below are the new royalty rates applicable to
    AMMAN:
    -   Copper in the form of concentrate: 7% to 10%, compared to the previous rate of 4%.
    -   Copper cathodes: 4% to 7%, compared to the previous rate of 2%.
    -   Gold: 7% to 16%, compared to the previous rate, which ranged from 3.75% to 10%.
    -   Silver: 5%, compared to the previous rate of 3.25%.


•   On October 31, 2025, AMMAN obtained a concentrate export permit with a quota of 480,000
    dmt, valid for six months.


•   In December 2025, the government imposed an export duty for gold products ranging from
    10% to 15%, depending on product form and prevailing gold prices. At gold prices of USD
    3,200 per troy ounce and above, the applicable export duty rates are as follows:
    -   Dore (lumps, ingots, cast bars, and other forms): 15%
    -   Gold or gold alloys not forged, in granule form or other forms (excluding dore): 12.5%
    -   Gold or gold alloys not forged, in lumps, ingots, and cast bars (excluding dore): 10%
    -   Minted bars: 10%




                                                                                                 11
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Attachments


                                           PT AMMAN MINERAL INTERNASIONAL TBK
                                           DAN ENTITAS ANAK/AND ITS SUBSIDIARIES

Laporan Posisi Keuangan Konsolidasian                                           Consolidated Statements of Financial Position
31 Desember 2025 dan 2024                                                                        December 31, 2025 and 2024
(Disajikan dalam Ribuan Dolar Amerika Serikat,                                (Expressed in Thousands of United States Dollars,
Kecuali Dinyatakan Lain)                                                                            Unless Otherwise Stated)

                                             Catatan/
                                              Notes              2025            2024

ASET                                                                                                                            ASSETS

ASET LANCAR                                                                                                     CURRENT ASSETS
Kas dan setara kas                                4                676,829         754,280                 Cash and cash equivalents
Kas yang dibatasi penggunaannya
   - bagian lancar                               5                 269,444          70,384         Restricted cash - current portion
Piutang usaha                                    6                 610,721         271,490                        Trade receivables
Aset derivatif - bagian lancar                   18                  6,368          12,259        Derivative assets - current portion
Persediaan, bersih                               7                 510,794         472,313                           Inventories, net
Stockpiles - bagian lancar                       7                 535,176         299,048               Stockpiles - current portion
Pajak penghasilan dibayar dimuka                 8a                 60,516               -                      Prepaid income tax
Piutang pajak lainnya                            8a                422,556         376,751                     Other tax receivables
Biaya dibayar dimuka dan                                                                                          Prepayments and
   aset lancar lainnya                                                                                       other current assets
   - Pihak ketiga                                13                 59,999           75,892                        Third parties -

Jumlah Aset Lancar                                              3,152,403        2,332,417                       Total Current Assets

ASET TIDAK LANCAR                                                                                        NON-CURRENT ASSETS
Kas yang dibatasi penggunaannya                                                                                     Restricted cash
   - bagian tidak lancar                          5                167,563           68,737                 - non-current portion
Aset derivatif                                                                                                     Derivative assets
   - bagian tidak lancar                         18                 4,645            4,916                  - non-current portion
Stockpiles - bagian tidak lancar                 7                991,717          876,456          Stockpiles - non-current portion
Piutang pajak penghasilan                        8a                12,780           45,121                    Income tax receivable
Aset pajak tangguhan, bersih                     8d                   836                -                  Deferred tax assets, net
Aset tetap, bersih                               9              5,634,565        4,502,201       Property, plant and equipment, net
Properti pertambangan, bersih                    10               177,745          178,915                    Mining properties, net
Biaya pengupasan lapisan tanah
   yang ditangguhkan, bersih                     11             3,322,167        2,803,393               Deferred stripping costs, net
Investasi jangka panjang                         12               262,448          249,184                    Long term investments
Goodwill                                         14                47,712           47,712                                   Goodwill
Aset tidak lancar lainnya                                                                                  Other non-current assets
   - Pihak ketiga                               13                  90,019             6,388                        Third parties -
   - Pihak berelasi                            13,28                 6,048             6,048                     Related parties -

Jumlah Aset Tidak Lancar                                       10,718,245        8,789,071                Total Non-Current Assets

JUMLAH ASET                                                    13,870,648       11,121,488                             TOTAL ASSETS




    Catatan atas laporan keuangan konsolidasian terlampir merupakan      The accompanying notes to the consolidated financial statements form
    bagian yang tidak terpisahkan dari laporan keuangan konsolidasian         an integral part of these consolidated financial statements.
                            secara keseluruhan.




                                                                                                                                                12
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                                           PT AMMAN MINERAL INTERNASIONAL TBK
                                           DAN ENTITAS ANAK/AND ITS SUBSIDIARIES

Laporan Posisi Keuangan Konsolidasian                                           Consolidated Statements of Financial Position
31 Desember 2025 dan 2024                                                                        December 31, 2025 and 2024
(Disajikan dalam Ribuan Dolar Amerika Serikat,                                (Expressed in Thousands of United States Dollars,
Kecuali Dinyatakan Lain)                                                                            Unless Otherwise Stated)

                                             Catatan/
                                              Notes              2025            2024

LIABILITAS DAN EKUITAS                                                                                  LIABILITIES AND EQUITY

LIABILITAS                                                                                                                  LIABILITIES

LIABILITAS JANGKA PENDEK                                                                                  CURRENT LIABILITIES
Pinjaman bank jangka pendek                      16                386,866         406,942                  Short term bank loans
                                                                                                               Trade payables and
Utang usaha dan beban akrual                                                                                  accrued expenses
   - Pihak ketiga                               15                 584,913         608,112                          Third parties -
   - Pihak berelasi                            15,28                 1,688           1,732                         Related party -
Utang pajak penghasilan                         8b                     356          10,498                      Income tax payable
Utang pajak lainnya                             8b                  27,600          23,094                       Other tax payables
Liabilitas reklamasi dan penutupan                                                                Reclamation and closure liabilities
   tambang - bagian lancar                       19                 22,620           20,883                      - current portion
Liabilitas derivatif                                                                                             Derivative liabilities
   - bagian lancar                               18                 23,285             6,139                     - current portion
Pinjaman bank jangka panjang                                                                                 Long term bank loans
   - bagian lancar                               17                164,901           69,038                  - current maturities
Liabilitas jangka pendek lainnya                                                                            Other current liabilities
   - Pihak ketiga                                                  187,500                -                          Third party -
   - Pihak berelasi                            21,28                10,208           10,030                     Related parties -

Jumlah Liabilitas Jangka Pendek                                 1,409,937        1,156,468                   Total Current Liabilities

LIABILITAS JANGKA PANJANG                                                                            NON-CURRENT LIABILITIES
Pinjaman bank jangka panjang, bersih                                                                      Long term bank loans, net
   - setelah dikurangi bagian lancar  17                        5,880,598        3,809,496             - net of current maturities
Liabilitas reklamasi dan penutupan                                                                Reclamation and closure liabilities
   tambang - bagian tidak lancar      19                           416,791         391,396                  - non-current portion
Liabilitas imbalan kerja              20                             8,810           7,027               Employee benefit liabilities
Liabilitas pajak tangguhan, bersih    8d                           460,270         408,769                Deferred tax liabilities, net
Liabilitas derivatif                                                                                             Derivative liabilities
   - bagian tidak lancar              18                            58,658           56,992                 - non-current portion
Liabilitas jangka panjang lainnya                                                                        Other non-current liabilities
   - Pihak ketiga                                                  171,875                -                          Third party -
   - Pihak berelasi                  21,28                          32,597           42,940                      Related parties -

Jumlah Liabilitas Jangka Panjang                                7,029,599        4,716,620             Total Non-Current Liabilities

JUMLAH LIABILITAS                                               8,439,536        5,873,088                        TOTAL LIABILITIES




    Catatan atas laporan keuangan konsolidasian terlampir merupakan      The accompanying notes to the consolidated financial statements form
    bagian yang tidak terpisahkan dari laporan keuangan konsolidasian         an integral part of these consolidated financial statements.
                            secara keseluruhan.




                                                                                                                                                13
Page 14
                                         PT AMMAN MINERAL INTERNASIONAL TBK
                                         DAN ENTITAS ANAK/AND ITS SUBSIDIARIES

Laporan Posisi Keuangan Konsolidasian                                              Consolidated Statements of Financial Position
31 Desember 2025 dan 2024                                                                           December 31, 2025 and 2024
(Disajikan dalam Ribuan Dolar Amerika Serikat,                                   (Expressed in Thousands of United States Dollars,
Kecuali Dinyatakan Lain)                                                                               Unless Otherwise Stated)

                                              Catatan/
                                               Notes             2025               2024

EKUITAS                                                                                                                   EQUITY
Modal saham - nilai nominal                                                                              Capital stock - par value
  Rp 125 (nilai penuh) per saham                                                               IDR 125 (full amount) per share
  Modal dasar -                                                                                                    Authorized -
  113.360.000.000 saham                                                                               113,360,000,000 shares
  Modal ditempatkan dan disetor -                                                                         Issued and paid-up -
  72.518.217.656 saham                           22a               659,301            659,301          72,518,217,656 shares
Tambahan modal disetor                           22a             1,720,040          1,720,040           Additional paid-up capital
Saham treasuri                                   22b               (48,429)                 -                       Treasury stock
Cadangan lainnya                                                   (47,455)           (25,514)                      Other reserves
Dampak dari transaksi ekuitas                                                                      Effect of equity transactions of
  entitas anak                                                    (270,223)          (270,223)                     a subsidiary
                                                                                                                Foreign exchange
Selisih kurs karena penjabaran                                                                       adjustment on translation
  laporan keuangan                                                    (4,215)          (3,860)          of financial statements
Saldo laba                                                                                                      Retained earnings
  Dicadangkan                                    22c                   300                150                     Appropriated
  Belum dicadangkan                                              3,328,777          3,079,948                   Unappropriated

Jumlah Ekuitas yang Dapat
  Diatribusikan kepada Pemilik                                                                           Total Equity Attributable to
  Entitas Induk                                                  5,338,096          5,159,842          Owners of the Parent Entity

Kepentingan nonpengendali                         23                  93,016            88,558                   Non-controlling interests

JUMLAH EKUITAS                                                   5,431,112          5,248,400                              TOTAL EQUITY

JUMLAH LIABILITAS DAN EKUITAS                                  13,870,648          11,121,488 TOTAL LIABILITIES AND EQUITY




  Catatan atas laporan keuangan konsolidasian terlampir merupakan        The accompanying notes to the consolidated financial statements form
  bagian yang tidak terpisahkan dari laporan keuangan konsolidasian           an integral part of these consolidated financial statements.
                          secara keseluruhan.




                                                                                                                                                14
Page 15
                                          PT AMMAN MINERAL INTERNASIONAL TBK
                                          DAN ENTITAS ANAK/AND ITS SUBSIDIARIES

Laporan Laba Rugi dan                                                             Consolidated Statements of Profit or Loss
Penghasilan Komprehensif Lain Konsolidasian                                               and Other Comprehensive Income
Untuk Tahun-tahun yang Berakhir                                                                         For the Years Ended
31 Desember 2025 dan 2024                                                                      December 31, 2025 and 2024
(Disajikan dalam Ribuan Dolar Amerika Serikat,                               (Expressed in Thousands of United States Dollars,
Kecuali Dinyatakan Lain)                                                                            Unless Otherwise Stated)

                                            Catatan/
                                             Notes              2025            2024

PENJUALAN BERSIH                                24             1,846,521        2,663,630                                   NET SALES

BEBAN POKOK PENJUALAN                           25             (1,010,898)     (1,318,596) COSTS APPLICABLE TO SALES

LABA KOTOR                                                        835,623       1,345,034                             GROSS PROFIT

BEBAN OPERASIONAL                                                                                        OPERATING EXPENSES
  Beban akresi                                  19                (25,447)         (18,578)                  Accretion expenses
  Beban eksplorasi                                                (19,458)         (21,002)                Exploration expenses
  Beban pemasaran, umum                                                                                  Marketing, general and
    dan administrasi                            26               (117,116)       (120,638)            administrative expenses

Jumlah Beban Operasional                                         (162,021)       (160,218)               Total Operating Expenses

LABA OPERASIONAL                                                  673,602       1,184,816                       OPERATING PROFIT

PENDAPATAN/(BEBAN) LAIN                                                                             OTHER INCOME/(EXPENSES)
  Bagian laba dari entitas asosiasi                                                                  Share in profit of associate
    dan ventura bersama                        12                  26,413          14,083                 and joint ventures
  Beban keuangan                            16,17,21             (386,046)       (283,735)                        Finance costs
  Pendapatan lainnya, bersih                                       33,351           9,503                     Other income, net

Jumlah Beban Lain, Bersih                                        (326,282)       (260,149)              Total Other Expenses, Net

LABA SEBELUM PAJAK                                                347,320         924,667                     PROFIT BEFORE TAX

BEBAN PAJAK PENGHASILAN                         8c                (64,703)       (211,122)                  INCOME TAX EXPENSE

LABA TAHUN BERJALAN                                                                                     PROFIT FOR THE YEAR
  SEBELUM PENERIMAAN                                                                                      BEFORE NON-TAX
  NEGARA BUKAN PAJAK                                              282,617         713,545            GOVERNMENT REVENUE

Penerimaan negara bukan pajak                   15                (24,579)         (71,868)            Non-tax government revenue

LABA TAHUN BERJALAN                                               258,038         641,677                  PROFIT FOR THE YEAR




   Catatan atas laporan keuangan konsolidasian terlampir merupakan      The accompanying notes to the consolidated financial statements form
   bagian yang tidak terpisahkan dari laporan keuangan konsolidasian         an integral part of these consolidated financial statements.
                           secara keseluruhan.




                                                                                                                                               15
Page 16
                                           PT AMMAN MINERAL INTERNASIONAL TBK
                                           DAN ENTITAS ANAK/AND ITS SUBSIDIARIES

Laporan Laba Rugi dan                                                                  Consolidated Statements of Profit or Loss
Penghasilan Komprehensif Lain Konsolidasian                                                    and Other Comprehensive Income
Untuk Tahun-tahun yang Berakhir                                                                              For the Years Ended
31 Desember 2025 dan 2024                                                                           December 31, 2025 and 2024
(Disajikan dalam Ribuan Dolar Amerika Serikat,                                    (Expressed in Thousands of United States Dollars,
Kecuali Dinyatakan Lain)                                                                                 Unless Otherwise Stated)

                                             Catatan/
                                              Notes              2025                2024

(RUGI)/PENGHASILAN                                                                                           OTHER COMPREHENSIVE
  KOMPREHENSIF LAIN                                                                                                  (LOSS)/INCOME
Pos yang akan                                                                                               Items that will be reclassified
  direklasifikasi ke laba rugi                                                                           subsequently to profit or loss
  Transaksi derivatif                            18                (24,974)             (31,795)               Derivative transactions
  Pajak sehubungan dengan                                                                                      Related income tax on
     transaksi derivatif                         8d                     5,494              6,995            derivative transactions
  Bagian penyesuaian translasi                                                                                    Share in translation
     dari entitas asosiasi                       12                     (3,897)            1,168           adjustment of associate

                                                                   (23,377)             (23,632)

Pos yang tidak akan                                                                                     Items that will not be reclassified
  direklasifikasi ke laba rugi                                                                           subsequently to profit or loss
  Pengukuran kembali                                                                                       Remeasurement of defined
     liabilitas imbalan kerja                    20                      (527)               (92)       employee benefit liabilities
  Pajak sehubungan dengan                                                                                      Related income tax on
     pengukuran kembali                                                                                 remeasurement of defined
     liabilitas imbalan kerja                  8d,20                      116                 20        employee benefit liabilities

                                                                         (411)               (72)

Jumlah Rugi                                                                                                Total Other Comprehensive
  Komprehensif Lain, Setelah Pajak                                 (23,788)             (23,704)                   Loss, Net of Tax

JUMLAH PENGHASILAN
  KOMPREHENSIF                                                                                                TOTAL COMPREHENSIVE
  TAHUN BERJALAN                                                   234,250             617,973              INCOME FOR THE YEAR

JUMLAH LABA TAHUN
  BERJALAN YANG DAPAT                                                                                       TOTAL PROFIT FOR THE
  DIATRIBUSIKAN KEPADA:                                                                                  YEAR ATTRIBUTABLE TO:
  Pemilik entitas induk                                            248,979             636,895            Owners of the parent entity
  Kepentingan nonpengendali                                          9,059               4,782              Non-controlling interests

                                                                   258,038             641,677

JUMLAH PENGHASILAN
  KOMPREHENSIF TAHUN                                                                                        TOTAL COMPREHENSIVE
  BERJALAN YANG DAPAT                                                                                           INCOME FOR THE
  DIATRIBUSIKAN KEPADA:                                                                                  YEAR ATTRIBUTABLE TO:
  Pemilik entitas induk                                            226,554             612,782            Owners of the parent entity
  Kepentingan nonpengendali                      23                  7,696               5,191              Non-controlling interests

                                                                   234,250             617,973

LABA PER SAHAM YANG                                                                                         EARNINGS PER SHARE
  DAPAT DIATRIBUSIKAN                                                                                ATTRIBUTABLE TO OWNERS
  KEPADA PEMILIK ENTITAS                                                                                OF THE PARENT ENTITY
  INDUK (nilai penuh)                            27                0.00344             0.00878                     (full amount)


    Catatan atas laporan keuangan konsolidasian terlampir merupakan          The accompanying notes to the consolidated financial statements form
    bagian yang tidak terpisahkan dari laporan keuangan konsolidasian             an integral part of these consolidated financial statements.
                            secara keseluruhan.




                                                                                                                                                    16
Page 17
                                          PT AMMAN MINERAL INTERNASIONAL TBK
                                          DAN ENTITAS ANAK/AND ITS SUBSIDIARIES

Laporan Arus Kas Konsolidasian                                                      Consolidated Statements of Cash Flows
Untuk Tahun-tahun yang Berakhir                                                                         For the Years Ended
31 Desember 2025 dan 2024                                                                      December 31, 2025 and 2024
(Disajikan dalam Ribuan Dolar Amerika Serikat,                               (Expressed in Thousands of United States Dollars,
Kecuali Dinyatakan Lain)                                                                           Unless Otherwise Stated)
                                     Catatan/
                                       Notes                    2025            2024

ARUS KAS DARI                                                                                               CASH FLOWS FROM
  AKTIVITAS OPERASI                                                                                  OPERATING ACTIVITIES
Penerimaan dari pelanggan       6,21,24,25                     1,904,711        2,826,686                Receipts from customers
Pembayaran kepada pemasok                                     (1,473,355)      (1,552,944)                  Payments to suppliers
Pembayaran royalti, pajak dan                                                                      Payments of royalties, taxes and
  penerimaan negara bukan pajak                                  (512,227)       (821,841)         non-tax government revenue
Pembayaran beban keuangan        16,17,21                        (394,091)       (300,204)              Payments of finance costs

Kas bersih (digunakan untuk)/                                                                                              Net cash
  diperoleh dari                                                                                           (used in)/provided by
  aktivitas operasi                                              (474,962)        151,697                    operating activities

ARUS KAS DARI                                                                                               CASH FLOWS FROM
  AKTIVITAS INVESTASI                                                                                 INVESTING ACTIVITIES
                                                                                                                    Acquisitions of
Perolehan aset tetap                           9,31           (1,316,848)      (1,674,956)       property, plant and equipment
Pembelian surat berharga investasi              13               (90,487)               -        Purchase of investment securities
                                                                                                        Advance for acquisition of
Uang muka perolehan aset tetap                  13                (38,000)         (27,166)      property, plant and equipment
Pembayaran untuk penambahan                                                                               Payments for addition of
  properti pertambangan                         10                (17,578)         (89,678)                   mining properties

Kas digunakan untuk
  aktivitas investasi                                         (1,462,913)      (1,791,800) Cash used in investing activities

ARUS KAS DARI                                                                                                 CASH FLOWS FROM
  AKTIVITAS PENDANAAN                                                                                   FINANCING ACTIVITIES
Penerimaan dari pinjaman                                                                                             Proceeds from
  bank jangka pendek                            16                493,181         711,290                  short term bank loans
Pembayaran untuk pinjaman                                                                                            Repayments of
  bank jangka pendek                            16               (507,627)       (502,018)                 short term bank loans
Penerimaan dari pinjaman                                                                                             Proceeds from
  bank jangka panjang                           17             3,155,402        2,812,791                   long term bank loans
Pembayaran untuk pinjaman                                                                                            Repayments of
  bank jangka panjang                           17               (914,228)     (1,926,784)                  long term bank loans
Pembelian saham treasuri                       22b                (48,429)              -                 Purchase of treasury stock
Perubahan pada kas yang
  dibatasi penggunaannya                         5               (297,886)          69,138                Changes in restricted cash

Kas bersih diperoleh dari                                                                                      Net cash provided by
  aktivitas pendanaan                                          1,880,413        1,164,417                     financing activities

                                                                                                                 NET DECREASE
PENURUNAN BERSIH                                                                                                 IN CASH AND
  KAS DAN SETARA KAS                                              (57,462)       (475,686)                 CASH EQUIVALENTS

                                                                                                             CASH AND CASH
KAS DAN SETARA KAS                                                                                    EQUIVALENTS AT THE
  PADA AWAL TAHUN                                                 754,280       1,228,597           BEGINNING OF THE YEAR

Pengaruh perubahan kurs                                                                                            Effect of foreign
  mata uang asing                                                 (19,989)            1,369               exchange rate changes

KAS DAN SETARA KAS                                                                             CASH AND CASH EQUIVALENTS
  PADA AKHIR TAHUN                                                676,829         754,280        AT THE END OF THE YEAR

   Catatan atas laporan keuangan konsolidasian terlampir merupakan      The accompanying notes to the consolidated financial statements form
   bagian yang tidak terpisahkan dari laporan keuangan konsolidasian         an integral part of these consolidated financial statements.
                           secara keseluruhan.




                                                                                                                                               17

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