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Public Expose 2026
PT BUKALAPAK.COM TBK
13 March 2026
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CONTENT
01 About the Company
02 2025 Financial Performance
03 2025 Non-Financial Performance
Public Expose 2026
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About the Company
We aim to make commerce accessible to everyone,
everywhere, by expanding opportunities, enabling
businesses to grow, and fostering shared prosperity,
1
while helping democratize the way people meet their
evolving needs.
In line with its strategic transformation, the Company
is currently developing a broader ecosystem through
various business pillars, leveraging technology and
strategic investments to create long-term value for its
stakeholders.
Public Expose 2026
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BUKA PT Bukalapak.com Tbk)
Established in 2010 and listed on the Indonesia Stock Exchange IDX) since 2021, BUKA is a
technology ecosystem dedicated to expanding economic opportunities across Indonesia.
The Company promotes sustainable growth through four strategic pillars.
Mitra Bukalapak: MSME Empowerment
Gaming: Digital Access and Entertainment
Investment: Financial Access
Retail: An Integrated Consumer Experience
Public Expose 2026
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The Ecosystem
The Company operates a diversified and growing ecosystem
through 4 business pillars.
Mitra Bukalapak Gaming Retail Investment
Public Expose 2026
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ABOUT
An O2O (online-to-offline) platform launched in 2017 to
modernize MSMEs. Operated by PT Buka Mitra Indonesia, it
Public Expose 2026
empowers warungs and local agents to increase their income
and remain competitive in the digital economy through
community-based business tools.
160 million+ transactions processed annually
200 cities served across Indonesia
42 virtual product types offered
Mitra Bukalapak
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ABOUT
Lapakgaming is a digital multi-payment company in
Public Expose 2026
the gaming industry which provides games voucher &
recharge services on various popular games.
3.2 million unique paying gamers
1000 connected B2B clients
30 millions processed transaction
BUKA Gaming
12 operating countries
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ABOUT
The leading and fastest-growing trading marketplace and
Public Expose 2026
service provider specialized in the digital games category,
with a mission to make digital game trading secure &
convenient for everyone in Indonesia.
1.5 million unique buyers
3000 individual and corporate sellers
10 millions transaction processed annually
BUKA Gaming
10 operating countries
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BUKA Retail
ABOUT
As an omni-channel retail brand, we are the official licensee for Indonesiaʼs distribution of emerging
international fashion labels, complemented by a diverse portfolio of local brands across multiple categories.
International Brands Local Brands Licensing
Public Expose 2026
Started in 2021, several vibrant From the mission to provide an BUKA has been granted the
international fashion brands open ecosystem, BUKA has right to develop, design, and
are under our belt. Our proven its competence in produce locally from multiple
international brand partners building brands that are well international brand licensors.
trust us to distribute their accepted by the market.
licensed products.
BUKA Retail
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ABOUT
BMoney is an investech boutique focused on
delivering a digital investment experience that is
simple, credible, and aligned with users’ financial
goals. As a subsidiary of BUKA supported by EMTEK,
BMoney has developed a financial technology
platform backed by strong investment research,
trusted products, and a user experience that is both
simple and premium.
Licensed & Supervised by: In Collaboration with:
Public Expose 2026
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All-in-One Platform
From Mutual Funds to Gold
Mutual Fund Stocks Bonds Digital Gold
Low-risk investment Invest in shares of your Buy bonds in primary and Secure your future,
in mutual funds favourite companies secondary markets invest in gold
Beginner-friendly investment Partnership with CGS BMoney Privilege offers Safe-haven asset with options
choice with 100+ conventional International Sekuritas specialized bond products, to transact digitally or convert
and Sharia products as well as Indonesia enables you to allowing you to invest in both into ANTAM-certified Gold Bars.
a diverse range of class assets invest in stocks of your IDR and USD denominations We collaborate with Treasury,
from 15+ reputable and trusted preference, marking the first while contributing to the the first BAPPEBTI-approved
investment managers. collaboration between a country's growth, with the best digital gold trader in Indonesia.
technology platform and a market rates guaranteed.
securities house in Indonesia.
Public Expose 2026
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ABOUT
BMoney Privilege is our premium service designed for high-net-worth individuals. Supported
by experienced Privilege Partners and credible collaborators, we are committed to delivering
an exceptional wealth management experience for our clients. We offer carefully curated
products, strong investment research, and first-class facilities — all delivered with creativity
and flexibility.
Licensed & Supervised by: In Collaboration with
Public Expose 2026
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The Company develops strong partnerships with public and private sectors to
support the development of the nation
Our primary role is to initiate and implement ESG-related initiatives, foster trust and maintain constructive relationships with
government authorities and other strategic stakeholders, while navigating complex protocols and regulatory frameworks that
may vary depending on the nature of the activities and the stakeholders involved.
Careful Planning and Thorough Research Building Strong Relationships Delegation and Collaboration
Undertaking comprehensive research on Proactively engaging with government Effectively delegating responsibilities while
relevant protocols, regulatory authorities and other stakeholders to working closely with experienced teams
requirements, and stakeholder foster trust and strengthen mutual and internal experts to navigate complex
expectations to anticipate potential understanding, particularly with those protocols and address logistical
challenges and ensure better preparation closely connected to the Company’s challenges, particularly in interactions with
for the implementation of activities. business activities. regulators.
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Governance Structure Public Expose 2026
General Meeting of Shareholders
Board of Commissioners Board of Directors
Audit Committee
Nomination and Remuneration
Committee
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Board of Commissioners Public Expose 2026 RD Adi Wardhana Dra Zannuba Arifah CH.R Jay Geoffrey Sariaatmadja (Yenny Wahid) Wacher President Commissioner Independent Commissioner Commissioner
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Board of Directors Public Expose 2026 Willix Halim Natalia Firmansyah Victor P. Lesmana President Director Director Director
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2025 Financial Performance
2025 marked an important milestone for
the Company as it continued its
2
transformation and expanded the scale of
its business. The Company recorded strong
growth acceleration across all business
lines, reinforcing its trajectory through
significant year-on-year (YoY) revenue
growth and improving profitability.
Public Expose 2026
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BUKA recorded a 46% YoY increase in revenue in FY25 Contribution Margin =
Revenue – Cost of Revenues – S&M
Overall Revenue Overall Contribution Margin(1)
IDR bn IDR bn
+46%
YoY
(21%)
YoY
+9%
QoQ
+8%
QoQ
Note:
(1) Contribution Margin is calculated as revenue minus cost of revenues and S&M
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BUKA’s adjusted EBITDA improved significantly in FY25
BUKA’s Adjusted EBITDA - Details BUKA’s FY25 Quarterly Adjusted EBITDA
IDR bn IDR bn
Currency: IDR bn 1Q25 2Q25 3Q25 4Q25 FY24 FY25 YoY Δ
EBITDA (66) 180 2,303 106 (2,428) 2,524 +4,952
Add/-Less Mainly
marked-to-market gain
on investment from
One-off costs and
(80) 174 (244) (64) 567 (214) Allo Bank investment
forex
Gain/Loss on
BUKA’s 4Q25 and FY25 Adjusted EBITDA Breakdown
126 (369) (2,077) (51) 1,520 (2,372)
Investments
IDR bn
Total EBITDA 4Q25 FY25
46 (195) (2,321) (115) 2,087 (2,586)
adjustments
Adjusted EBITDA – 4 Segments (15) (13)
BUKA Adjusted EBITDA (20) (14) (18) (9) (340) (62) +278 Adjusted EBITDA – Corporate 9 (41)
Adjusted EBITDA – Elimination (3) (8)
BUKA Adjusted EBITDA +
212 201 175 160 692 747 +55
Net Interest Income BUKA Adjusted EBITDA (9) (62)
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Gaming, Mitra and Retail were the top 3 contributors to contribution margin in 4Q25
Revenue by Segment in 4Q25(1) Contribution Margin by Segment in 4Q25(2)
IDR bn IDR bn
Note:
(1) Revenue figures are before corporate and elimination 21
(2) Contribution Margin is calculated as revenue minus cost of revenues and S&M
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Gaming segment delivered consistent growth across all key financial metrics in 4Q25
Gaming Revenue Gaming Contribution Margin Gaming Adjusted EBITDA
IDR bn IDR bn IDR bn
2.8% 2.3% 2.0% 2.3% 2.3% 1.3% 0.9% 0.4% 0.4% 0.7%
Adj EBITDA Adj EBITDA Adj EBITDA Adj EBITDA Adj EBITDA
CM Margin CM Margin CM Margin CM Margin CM Margin
Margin Margin Margin Margin Margin
+8%
QoQ
+26%
QoQ
+18%
QoQ
22
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Mitra Segment revenue grew and Adjusted EBITDA remained stable in 4Q25
Mitra Revenue Mitra Contribution Margin Mitra Adjusted EBITDA
IDR bn IDR bn IDR bn
+12% 9.2% 10.4% 16.4% 13.5% 12.0% (1.5%) (4.8%) (4.2%) (3.4%) (3.3%)
Adj EBITDA Adj EBITDA Adj EBITDA Adj EBITDA Adj EBITDA
QoQ CM Margin CM Margin CM Margin CM Margin CM Margin
Margin Margin Margin
Margin Margin
(8%)
QoQ
23
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Retail Segment revenue improved with temporary margin pressure from business
expansion
Retail Revenue Retail Contribution Margin Retail Adjusted EBITDA
IDR bn IDR bn IDR bn
26.6% 28.9% 26.3% 19.6% 25.4% 0.3% 2.1% (9.2%) (15.9%) (5.3%)
Adj EBITDA Adj EBITDA Adj EBITDA Adj EBITDA Adj EBITDA
CM Margin CM Margin CM Margin CM Margin CM Margin
Margin Margin Margin Margin Margin
+12%
QoQ
(16%)
QoQ
Note:
The Q1–Q3 figures have been restated to normalise inter-segment eliminations that were previously presented as a separate line item. This normalization affects the quarterly presentation only, and the full-year figures reconcile with the FY2025 audited 24
financial statements.
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Investment Segment revenue grew in 4Q25 driven by increased number of users and
transactions
Investment Revenue Investment Contribution Margin Investment Adjusted EBITDA
IDR bn IDR bn IDR bn
36.9% 33.3% 31.5% 21.9% 29.4% (17.9%) (15.7%) (7.1%) (12.2%) (12.6%)
Adj EBITDA Adj EBITDA Adj EBITDA Adj EBITDA Adj EBITDA
CM Margin CM Margin CM Margin CM Margin CM Margin
Margin Margin Margin Margin Margin
+39%
QoQ
(4%)
QoQ
25
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Summary key highlights
Cash & Cash Equivalent and
Key Financial Highlights
Liquid Investments
IDR bn IDR tn
QoQ Δ YoY Δ
Unit 4Q24 1Q25 2Q25 3Q25 4Q25 3Q25- FY24 FY25 FY24-
4Q25 FY25
Overall Revenue IDR bn 1,061 1,457 1,631 1,639 1,783 144 4,460 6,510 2,050
Overall Contribution Margin(1) IDR bn 41 80 73 74 80 6 388 307 (82)
17.8(3)
G&A IDR bn (583) (182) (124) (55) (95) (40) (1,451) (456) 994
G&A (excl. One-Off Legal &
IDR bn (156) (147) (125) (163) (113) 50 (917) (548) 369
Restructuring Cost)(2)
EBITDA IDR bn (1,162) (66) 180 2,303 106 (2,196) (2,428) 2,524 4,952
Adjusted EBITDA IDR bn (147) (20) (14) (18) (9) 9 (340) (62) 278
Adjusted EBITDA
IDR bn 105 212 201 175 160 (15) 692 747 55
+ Net Interest Income
Net Profit IDR bn (955) 112 355 2,446 235 (2,211) (1,548) 3,148 4,696
Notes:
(1) Overall Contribution Margin is calculated as Revenue minus Cost of Revenues and S&M, taking elimination into account.
(2) G&A excluding one-off items/over-accrual of legal and restructuring costs. 26
(3) Lower Dec-25 cash balance primarily due to BUKA’s share buyback executed between March 2025 and December 2025.
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2025 Non-Financial Performance
The Company contributes to social,
environmental, and sustainability initiatives,
recognizing that long-term corporate
3
success is closely linked to supporting
community well-being, preserving the
environment, and upholding sound
governance practices. Through its
sustainability policies and employee
empowerment initiatives, the Company is
committed to creating a positive and
lasting impact on society.
Public Expose 2026
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ESG Strategy
Bukalapak recognizes that MSMEs are Environment
the key pillar of Indonesia’s economy,
employing more than 90% of the nation’s Supporting small businesses to grow sustainably
workforce. through circular economy practices
Our ESG strategy focuses on
empowering MSMEs to grow more Social
rapidly and sustainably.
Empowering MSMEs and improving livelihoods
By providing MSMEs with access to
technology and enabling them to benefit
from the circular economy, we believe Governance
we are helping to build a stronger and Promoting diversity and inclusion for better
more resilient foundation for Indonesia’s business outcomes
economy.
Public Expose 2026
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BUKA
Supporting Retail
Corporate Social Responsibility Programs
PUJAAN vol. 4: Festival Perempuan Berdaya Akar Kebaikan vol. 3 Bin It, Win It: Internal Waste
Berkarya Management
In collaboration with the Ministry of Under the theme “Bersatu dalam Aksi, Encouraging the employees to adopt
Communication and Digital Affairs, the Berdaulat Menjaga Bumi,” Bukalapak more responsible waste-sorting and
Ministry of Trade, and the Financial Services carried out a mangrove seedling waste-management practices by
Authority (OJK), the Company provided planting initiative in the coastal area of transforming waste into value-added
motivation and training for Mitra through Muara Gembong, Bekasi, alongside the products, such as recycled batik
financial literacy sessions and programs distribution of “Sandang Merdeka” wallets.
aimed at helping them strengthen and grow assistance in the form of 400 clothing
their businesses. packages to surrounding communities.
The Company also encourages the role of youth and women in building an inclusive digital economy through various empowerment
initiatives. These include the commemoration of Kartini Day 2025, themed “Perempuan Juwara: Bahagia, Berkarya, dan Berdaya,” which
raised awareness of mental health issues among women entrepreneurs, as well as scholarship programs for women in technology
aimed at expanding access and strengthening female talent in the technology sector.
Public Expose 2026
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Achievement
“Very Goodˮ Rating in Corporate Secretary
Champion 2025 - SWA Media Group
HR Service Delivery Excellence 2025 -
Darwinbox
Gold Predicate in the Notable Enterprise in
Regulatory Compliance, Indonesia
Regulatory Compliance Awards 2025 -
Hukumonline
Public Expose 2026
Public
Public Expose
Expose 2026
2025
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For further inquiries, please contact:
Thank you corsec@bukalapak.com
PT BUKALAPAK.COM TBK
PUBLIC EXPOSE 2026
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