20230926_ANTM_Laporan Informasi dan Fakta Material_31423287_lamp2.pdf

           ANTAM Recorded Corporate Credit Rating Improvement
                     to BB+/Outlook Stable in 2023

Jakarta, September 26, 2023 – PT Aneka Tambang Tbk (ANTAM; IDX: ANTM; ASX: ATM), member
of PT Mineral Industri Indonesia (Persero) (MIND ID) - the State-Owned Enterprise Holding of the
Mining Industry, announce that the Company gains the improvement of S&P Global corporate credit
rating in 2023 from “B+/outlook Positive” to "BB+/outlook Stable.” This rating Improvement reflects
the Company's business prospects advancement, especially through the nickel downstream
development initiative for Indonesia's Electric Vehicle Battery (EV Battery) industry chain and the
Company's gold commodity business.

The EV Battery industry chain development managed by ANTAM is one of the National Strategic
Projects that will strengthen Indonesia's global position in the EV Battery industry chain. In addition,
ANTAM's credit profile growth is in line with sufficient and solid of the Company's liquidity
management amidst the challenges of global commodity prices.

As reported, S&P believes that the Government will continue to provide full support to ANTAM
through MIND ID. This is in line with the Government's aspiration to manage and consolidate
strategic mining assets through MIND ID, which aims to manage interests in the domestic mining
industry, especially concerning natural resource strategy for the national/state.

ANTAM's Director of Finance and Risk Management, Elisabeth RT Siahaan, said:
“The rating improvement is in line with ANTAM's business sustainability strategy in
optimizing the Company's operations and financial aspects. The Company continuously
implements operational excellence and strives for cost management by implementing
appropriate efficiency programs. This effort certainly provides positive returns to
shareholders and stakeholders.”

This rating improvement is also supported by the proper implementation of the Company’s
operational strategy, which is reflected in the positive profitability in the first six-month period of
2023 (1H23). ANTAM's solid financial liquidity position is reflected in the cash flow position that
mirrored net cash provided from operating activities amounted to Rp1.69 trillion, increased by 96%
compared to the first six-month period of 2022 (1H22) of Rp861.32 billion. The strengthening of
ANTAM's financial structure is also reflected in cash and cash equivalents at the end period of 1H23,
which reached Rp6.58 trillion, a significant increase of 104% from the 1H22 position of Rp3.23
trillion.


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