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December 31, December 31, December 31,
1. DEFINITION AND TERMS
ANNOUNCEMENT OF THE SUMMARY OF SPIN-OFF PLAN OF
No. Post
2024 2023 2022
6. Other liabilities 5,193,194 4,017,837 3,365,774
BAE : PT Datindo Entrycom, which serves as the Securities
Banking Synergy :
Administration Bureau of BTN.
The synergy cooperation between BTN and BSN
THE SHARIA BUSINESS UNIT OF 7.
8.
Profit Sharing Investment Funds
Operating Funds
-
4,468,824
-
7,471,713
-
6,940,992
9. Retained Earnings (Losses)
established for the purpose of efficiency and optimization
of resources in supporting the implementation of PT BANK TABUNGAN NEGARA (PERSERO) Tbk a. Other comprehensive income (losses)
b. Income previous years
(8,978)
4,794
65
4,794
9,636
4,794
business, service, and operational activities.
BEI
BTN
: PT Bursa Efek Indonesia.
: PT Bank Tabungan Negara (Persero) Tbk, domiciled in
BY TRANSFER OF RIGHTS AND OBLIGATIONS c. Income current year
TOTAL LIABILITIES
872,403
60,560,957
702,335
54,288,709
333,576
45,335,575
TO
Statement of Profit or Loss and Other Comprehensive Income of UUS of
Central Jakarta, acting as the party carrying out the Spin-
PT Bank Tabungan Negara (Persero) Tbk (in millions of Rupiah)
off of the UUS by transferring the rights and obligations
related to the UUS to BSN.
PT BANK SYARIAH NASIONAL
December 31, December 31, December 31,
No. Post
2024 2023 2022
BSN : PT Bank Syariah Nasional, domiciled in South Jakarta,
acting as the party receiving the Spin-off by accepting the OPERATING INCOME AND EXPENSES
transfer of rights and obligations related to the UUS from A. Interest Income and Expenses
BTN, namely as the BUS post Spin-off. 1. Income from Fund Distribution
a. Income from Receivables 2,945,778 2,582,739 1,937,143
BSN Operational : The date on which all business licenses and approvals
b. Income from Profit Sharing 358,062 351,216 348,736
Date from the OJK, Bank Indonesia, and other relevant
c. Lease Income 367 27 -
regulators concerning BSN’s operational activities have
d. Others 764,137 627,303 389,418
been obtained in connection with the Spin-off.
2. Profit Sharing for Investment Funds Owners
BUS : Bank Umum Syariah, Sharia Commercial Bank is a bank a. Non Profit Sharing (1,781,559) (1,372,916) (815,803)
that carries out its business activities based on Sharia b. Profit Sharing - - -
principles, providing services in payment transactions. 3. Income after profit Sharing Distribution 2,286,785 2,188,369 1,859,494
BUK : Bank Umum Konvensional, Conventional Commercial
Bank is a bank that carries out its business activities
PT BANK TABUNGAN NEGARA (PERSERO) Tbk B. Operating Income and Expenses other than
Fund Distribution
on a conventional basis, providing services in payment Head Office: 1. Gain/loss on foreign exchange transactions - - -
transactions. Menara BTN 2. Income as Mudharib in Mudharabah - - -
BVIS : PT Bank Victoria Syariah, being the former name of BSN. Jl .Gajah Mada No. 1, Kel. Petojo Utara, Kec. Gambir, Jakarta Pusat 3. Commission/provision/fee and administrative 104,487 91,807 77,730
Effective Date of : The date on which the Minister of Law and Human Rights Tel.: (021) 633-2666, 633-6789
4. Other Income - - -
Spin-off grants approval and/or acknowledges the receipt of 5. Wadiah bonus expense (153,446) (71,621) (57,558)
notification regarding the amendments to BSN’s Articles E-mail: csd@btn.co.id Website: www.btn.co.id 6. Allowance for Impairment losses on financial assets (127,694) (51,127) (602,661)
of Association as the BUS receiving the transferred rights THIS SUMMARY OF SPIN-OFF PLAN HAS BEEN JOINTLY PREPARED BY THE BOARD OF DIRECTORS OF PT BANK TABUNGAN NEGARA 7. Losses related to operational risk - - -
and obligations from BTN, and which also represents the (PERSERO) TBK, AS THE PARTY TRANSFERRING RIGHTS AND OBLIGATIONS, AND PT BANK SYARIAH NASIONAL, AS THE PARTY RECEIVING 8. Allowance for Impairment losses (recovery) on other
(13,549) (86,170) (52,034)
assets (non-financial)
estimated Operational Date of BSN THE TRANSFER OF RIGHTS AND OBLIGATIONS, IN CONNECTION WITH THE SPIN-OFF OF THE SHARIA BUSINESS UNIT, AND HAS OBTAINED
9. Salaries and employee benefit (391,814) (553,974) (342,330)
EGMS : Extraordinary General Meeting of Shareholders. THE APPROVAL OF THE RESPECTIVE BOARD OF COMMISSIONERS OF EACH COMPANY.
10. Other Expenses (832,487) (814,858) (549,025)
Government : Government Regulation of the Republic of Indonesia No. This Summary of Spin-off Plan has been prepared in compliance with Article 127 paragraph (2) of Law No. 40 of 2007 on Limited Liability Companies, as Others Operating Income (Expenses) (1,414,503) (1,485,943) (1,525,878)
Regulation No. 29 29 of 1999 dated May 7, 1999 concerning the Purchase most recently amended by Law No. 6 of 2023 on the Enactment of Government Regulation in Lieu of Law No. 2 of 2022 on Job Creation juncto Article 78 PROFIT (LOSS) FROM OPERATIONS 872,282 702,426 333,616
of 1999 of Shares of Commercial Banks. paragraph (2) of OJK Regulation No. 12 of 2023 on Sharia Business Units, and Article 48 of Law No. 27 of 2022 on Personal Data Protection NON-OPERATING INCOME AND EXPENSES
KBMI : Kelompok Bank berdasarkan Modal Inti, in accordance This Summary of Spin-off Plan has not yet been approved by the shareholders of PT Bank Tabungan Negara (Persero) Tbk (“BTN”) and PT Bank Syariah 1. Gains/loss on sale of fixed assets and equipment - - -
with OJK Regulation No. 16 of 2022. Nasional (“BSN”). It is important to note that each shareholder of BTN and BSN will be required to make a decision at the Extraordinary General Meeting 2. Other non-operating income/expenses 121 (91) (40)
KSEI : PT Kustodian Sentral Efek Indonesia. of Shareholders of BTN and BSN, which is scheduled to be held on November 18, 2025, in relation to the Spin-off. PROFIT (LOSS) FROM NON-OPERATING 121 (91) (40)
Labour Law : Law No. 13 of 2003 dated March 25, 2003 concerning CURRENT YEAR PROFIT (LOSS) BEFORE TAX 872,403 702,335 333,576
Manpower, as amended by Law No. 6 of 2023 concerning The Spin-off is carried out with due consideration of the interests of stakeholders, creditors, investors, financing providers, shareholders, and employees of Income Tax - -
the Ratification of Government Regulation in Lieu of Law both BTN and BSN, as well as the public interest and the need to maintain fair competition in the banking industry. NET PROFIT (LOSS) FOR THE YEAR 872,403 702,335 333,576
No. 2 of 2022 on Job Creation into Law. Objections to the Spin-off may be submitted in writing to BTN and BSN by creditors of each of BTN or BSN no later than 14 (fourteen) days after the OTHER COMPREHENSIVE INCOME
Limited Liability : Law No. 40 of 2007 dated August 16, 2007 concerning announcement date of this Summary of Spin-off Plan, or at the latest by October 9, 2025. In accordance with Article 127 paragraph (4) of the Limited 1. Item that will not be reclassified to profit or loss - - -
Company Law Limited Liability Companies as partially amended by Law Liability Company Law, if no objection is submitted by creditors of BTN or BSN within such period, the creditors shall be deemed to have approved the 2. Item that will be reclassified to profit or loss (9,043) (9,571) (49,913)
No. 6 of 2023 concerning the Stipulation of Government Spin-off OTHER COMPREHENSIVE INCOME CURRENT
(9,043) (9,571) (49,913)
Regulation in Lieu of Law No. 2 of 2022 concerning Job YEAR AFTER TAX
Creation into Law. This Summary of Spin-Off Plan is published on September 25, 2025 TOTAL COMPREHENSIVE INCOME (LOSS)
863,360 692,764 283,663
CURRENT YEAR
Menkum : Kementerian Hukum, Formerly the Minister of Law
and Human Rights of the Republic of Indonesia, or To achieve the aforementioned purposes and objectives, BTN may carry out No. December 31, December 31, December 31, 4. INFORMATION REGARDING THE SPIN-OFF PLAN
Menkumham. Post
the following main business activities: 2024 2023 2022
OJK : Otoritas Jasa Keuangan, Financial Service Authority is 5. Securities owned 57,339,639 41,199,802 53,688,141
4.1 Schedule Plan and Estimated Effective Date of Spin-off as well as
a. Collecting funds from the public in the form of deposits such as savings, Schedule Plan and Estimated Date of Revocation of UUS Business
an independent state institution vested with the functions, current accounts, time deposits, certificates of deposit, and/or other 6. Securities Sold Under Repurchase Agreement
duties, and authorities of regulation, supervision, (repo) 3,499,300 - - License
equivalent forms;
examination, and investigation as referred to in Law 7. Receivables from Securities Purchased under The Spin-off is scheduled to be completed according to the following
No. 21 of 2011 dated 22 November 2011 concerning b. Disbursing funds in the form of loans or financing based on Sharia Agreement to Resell (reverse repo) 175,625 - 1,434,190 estimated timeline:
the Financial Services Authority, as amended by the principles; 8. Acceptance receivable 941,898 544,567 420,562
No. Activities Estimated Completion
UUP2SK. c. Engaging in activities in the field of payment systems; 9. Loans 314,080,105 296,583,860 266,657,565
1. Approval from the Board of Commissioners of each BTN and BSN September 24, 2025
POJK No. 31/2015 : OJK Regulation No. 31/POJK.04/2015 dated December d. Placing funds in other banks, borrowing from other banks, or lending 10. Sharia Financing 43,892,827 37,114,281 31,624,139
2. Announcement of the summary of Spin-off Plan in one national September 25, 2025
22, 2015 concerning Disclosure of Material Information to other banks, whether through instruments, telecommunications, 11. Investment in Share - - - Indonesian-language daily newspaper, as well as written notification to
or Facts by Issuers or Public Companies, as amended promissory notes, checks, or other means; 12. Other Financial Assets 11,712,851 12,110,180 10,756,035 employees regarding the Spin-off Plan.
by OJK Regulation No. 45 of 2024 concerning the 13. Allowance for impairment losses on financial 3. Submission of Spin-off Plan to OJK September 25, 2025
e. Issuing and/or executing securities transactions for the benefit of BTN assets -/-
Development and Strengthening of Issuers and Public 4. Submission of evidence of the announcement of the summary of Spin-off September 25, 2025
and/or its customers; a. Securities Owned (787) (22,903) (2,399) Plan to the OJK and IDX based on Regulation No. 1-E, POJK No. 31/2015
Companies. f. Providing facilities for the safekeeping of goods and securities; b. Loans and sharia financing (13,057,187) (15,591,964) (15,674,923) and POJK No. 37/2019
POJK No. 37/2019 : OJK Regulation No. 37/POJK.03/2019 dated December c. Others (4,558) (25,680) (1,883) 5. Submission of EGMS BTN Agenda to OJK October 3, 2025
g. Engaging in business activities in foreign currencies;
20, 2019 concerning Transparency and Publication of 14. Intangible Assets 137,531 - - 6. Deadline for submission of objections by creditors October 9, 2025
Bank Reports, as amended by OJK Regulation No. 13 of h. Engaging in receivables transfer activities;
Accumulated amortization of intangible assets -/- (15,523) - - 7. Announcement of BTN EGMS October 10, 2025
2024 concerning Transparency and Publication of Base i. Engaging in safekeeping activities for goods and securities; 15. Fixed assets and Equipment 14,059,957 12,953,746 10,599,848 8. Invitation for BTN EGMS on at least the BTN website, KSEI, and IDX October 27, 2025
Lending Rates for Conventional Commercial Banks. j. Engaging in equity participation in financial service institutions and/or Accumulated amortization of fixed assets and 9. Invitation for BSN EGMS via newspaper announcement November 3, 2025
POJK No. 41/2019 : OJK Regulation No. 41/POJK.03/2019 dated December other companies that support the banking industry, in compliance with inventories -/- (4,883,826) (4,835,934) (4,246,045) BTN and BSN EGMS with an agenda to approve, among other things: November 18, 2025
23, 2019 concerning the Merger, Consolidation, the provisions set by the OJK; 16. Non-productive assets a. BTN EGMS:
Acquisition, Integration, and Conversion of Commercial a. Abandoned property 1,410 1,410 1,410 • Spin-off to be carried out by transferring the rights and obligations
k. Engaging in temporary equity participation outside financial service of UUS BTN to BSN, including approval of:
Banks. institutions to mitigate the effects of credit or financing failures based on b. Foreclosed collaterals 77,591 77,591 77,591 o Spin-off Plan
POJK No. 12/2020 : OJK Regulation No. 12/POJK.03/2020 dated March 16, Sharia principles, provided that such participation must be withdrawn; c. Suspense accounts - - - o Concept of Deed of Spin-off
2020 concerning Commercial Bank Consolidation. d. Interoffice assets - - - • Amendments to BTN’s Articles of Association in connection with the
l. Acting as the founder and administrator of pension funds in accordance Spin-off of UUS BTN, effective on the Effective Date of Spin-off
POJK No. 17/2020 : OJK Regulation No. 17/POJK.04/2020 dated April 21, 17. Other Assets 6,096,416 5,570,834 5,183,456
with the provisions of laws and regulations concerning pension funds; • Dissolution of the Sharia Supervisory Board of UUS BTN and
2020 concerning Material Transactions and Changes in TOTAL ASSETS 469,614,502 438,749,736 402,148,312
m. Engaging in financial services activities, investment banking, and other approval of resignation of members of the Sharia Supervisory
Business Activities. LIABILITIES AND EQUITY Board of UUS BTN on the Effective Date of Spin-off
commercial banking activities in accordance with the provisions of laws LIABILITIES b. BSN EGMS:
POJK No. 42/2020 : OJK Regulation No. 42/POJK.04/2020 dated July 2, and regulations; 1. Demand deposits 160,847,953 143,534,817 114,006,513 • Acceptance of the Spin-off of UUS BTN to BSN along with all rights
2020 concerning Affiliated Transactions and Conflict of
Interest Transactions. n. Conducting business activities based on Sharia principles, in accordance 2. Savings deposits 45,509,861 44,471,995 42,195,160 and obligations of UUS BTN, including:
with the provisions set by the OJK and applicable laws and regulations; 3. Time deposits 175,309,187 161,926,504 165,735,643 o Spin-off Plan
POJK No. 12/2021 : OJK Regulation No. 12/POJK.03/2021 dated July 30, 4. Electronic money - - -
o Concept of Deed of Spin-off
2021 concerning Commercial Banks o. Collaborating with other financial service institutions and with non- • Amendments to BSN’s Articles of Association, including, among
financial institutions in providing financial services to customers; and 5. Liabilities to Bank Indonesia - - - others, increase in BSN’s authorized capital, issued capital, and
POJK No. 16/2022 : OJK Regulation No. 16/POJK.03/2022 dated August 6. Liabilities to Other Banks 104,745 1,300,316 179,182 paid-up capital, effective on the Effective Date of Spin-off
30, 2022 concerning Sharia Commercial Banks, as p. Engaging in other activities with the approval of the OJK. • Draft Short-Term Business Plan and budget (RKAP) of BSN for
7. Spot and derivative/forward payable - - -
amended by OJK Regulation No. 2 of 2024. In addition to the main business activities referred to above, BTN may engage 8. Liabilities on Securities Sold under Repurchase 2026
POJK No. 12/2023 : OJK Regulation No. 12 of 2023 dated July 12, 2023 in supporting business activities to optimize the use of its resources in order Agreement (repo) 3,409,426 - - • Changes in the composition of the BSN Sharia Supervisory Board
to support its main business activities, provided that such activities do not on the Effective Date of Spin-off
concerning Sharia Business Units, as amended by 9. Acceptance liabilities 941,898 544,567 420,562 • Determination of remuneration (salary/honorarium, facilities,
OJK Regulation No. 2 of 2024 dated February 16, 2024 conflict with the provisions of applicable laws and regulations. 10. Securities issued 5,444,524 6,834,647 8,652,260 and allowances) for 2025 for members of the Board of Directors,
concerning the Implementation of Sharia Governance for As of August 31, 2025, BTN’s conventional and Sharia office network 11. Fund borrowings 39,813,189 42,874,926 33,979,224 members of the Board of Commissioners, and members of the
Sharia Commercial Banks and Sharia Business Units. comprises 1 Head Office, 1 UUS Head Office, 117 Branch Offices, 616 Sub- 12. Guarantee deposits 9,604 9,690 9,872 Sharia Supervisory Board of BSN.
POJK No. 29/2023 : OJK Regulation No. 29 of 2023 dated December 29, Branch Offices, 4 Functional Offices, and 87 Mobile Cash Units / BTN Move. 13. Interoffiice payables - - - Signing of the Deed of Spin-off November 19, 2025
2023 concerning the Repurchase of Shares Issued by Of these, BTN’s Sharia offices operating under the UUS include 1 UUS Head 14. Other liabilities 5,652,226 6,773,122 11,060,542 Submission of reports and information to Bank Indonesia regarding Spin- November 19, 2025
off based on PBI No.23/2021 and PBI No. 19/13/PBI/2017
Public Companies. Office, 35 Sharia Branch Offices, 76 Sharia Sub-Branch Offices, 589 Sharia 15. Minority interest - - -
TOTAL LIABILITIES 437,042,613 408,270,584 376,238,958 Submission of a request for approval of Spin-off to OJK by submitting November 19, 2025
PDP Law : Law No. 27/2022 on Personal Data Protection, amended Service Offices, and 7 Mobile Cash Units / BTN Move. Spin-off Plan document of UUS from BUK and the request for approval for
by Constitutional Court Decision No. 151/PUU-XXII/2024 3.3 Capital Structure and Shareholder EQUITY Spin-off of UUS from BUK as stipulated in POJK 12/2023
Public Accountant : Public Accounting Firm Purwanto, Susanti & Surja 16. Share Capital
BTN’s capital structure and the latest shareholders, as stated in the BTN Estimated date of receipt of Spin-off approval from OJK December 9, 2025
(Ernst & Young / EY) which previously known as Public a. Authorized capital 10,239,216 10,239,216 10,239,216
Shareholders List with securities ownership reaching 5% or more as of Estimated Effective Date of Spin-off / BSN Operation Date December 15, 2025
b. Unpaid-in capital -/- (3,221,994) (3,221,994) (4,944,216)
Accounting Firm Purwantono, Sungkoro & Surja (EY). August 31, 2025, issued by PT Datindo Entrycom as BAE BTN are as follows: Announcement of material information or facts to the public and December 16, 2025
c. Treasury stock -/- - - - submission of reports on the publication of material information or facts
Regulation No. 1-E : Regulation No. 1-E of 2022 concerning the Obligation to Par Value IDR 500,- per Share 17. Additional paid-in capital regarding the realization of Effective Date of Spin-off based on POJK No.
Submit Information, Annex to the Decree of the Board Description Number of 31/2015 and POJK No. 37/2019.
Number of Shares Total Nominal Value a. Agio 4,418,900 4,418,900 2,054,454
of Directors of PT Indonesia Stock Exchange No. Kep- Shares b. Disagio - - - Reporting of affiliated transactions and material transactions to OJK December 16, 2025
00066/BEI09-2022. Authorized Capital c. Funds for paid-up capital - - 2,756,575 Revocation of UUS license to OJK A maximum of 7 (seven)
Spin-off : a legal action of BTN to spin off the UUS, resulting in Series A Dwiwarna Shares 1 500 d. Others - - - business days after the rights
the transfer by operation of law of BTN’s rights and Series B Shares 20,478,431,999 10,239,215,999,500 18. Other comprehensive income
and obligations of UUS are
obligations (assets and liabilities) in relation to the UUS Total Authorized Capital 20,478,432,000 10,239,216,000,000 transferred to BUS post
a. Gain 3,565,773 3,565,773 3,508,565 Spin-off.
to BSN, which constitutes an in-kind spin-off (pemisahan Issued and Fully Paid Capital b. Loss -/- (1,576,079) (1,361,686) (1,652,210)
tidak murni) as referred to in Article 135 paragraph (3) of Series A Dwiwarna Shares 19. Reserves
4.2 Reasons and Explanations for Spin-off
the Indonesian Limited Liability Company Law. Republic of Indonesia 1 500 0.00 a. General reserves 4,621,242 4,621,242 4,621,242 External Aspects
Spin-off Deed : A deed of Spin-off executed before a notary in the Series B Shares b. Appropriated reserves 840,476 840,476 840,476 The Spin-off of BTN’ UUS was carried out in accordance with Article 68 of
Indonesian language, the draft of which must be - PT Danantara Asset Management (Persero) 8,420,666,647 4,210,333,323,500 60.00 20. Transactions with non-controlling interests UUPS, which is further regulated in Article 59 of POJK No. 12/2023. This
approved by resolutions of the EGMS of both BTN and - Public (<5%)*) 5,594,460,930 2,797,230,465,000 39.86 21. Profit/loss regulation requires banks to separate their UUS into BUS if the value of the
BSN. - Board of Commissioners & Directors BTN**) a. Previous years 11,377,225 8,485,252 5,440,179 UUS assets has reached at least 50% of the total assets of the parent bank
Spin-off Plan : This Spin-off Plan has been jointly prepared by the Board Nixon L,P, Napitupulu 5,399,000 2,699,500,000 0.04 b. Current year 3,007,328 3,500,988 3,045,073 and/or at least IDR 50,000,000,000,000 (fifty trillion rupiah). In addition, the
of Directors of each BTN as the party transferring rights Oni Febriarto Rahardjo 1,149,100 574,550,000 0.01 c. Dividend paid -/- (700,198) (609,015) -
Hirwandi Gafar 2,759,714 1,379,857,000 0.02
Spin-off of UUS is also driven by regulations that are increasingly conducive
and obligations, with BSN as the receiving party of the TOTAL EQUITY 32,571,889 30,479,152 25,909,354 in supporting the transformation of UUS into BUS, such as POJK No.
transferred rights and obligations in connection with the Nofry Rony Poetra 3,527,422 1,763,711,000 0.03 TOTAL LIABILITIES AND EQUITY 469,614,502 438,749,736 402,148,312
Tan Jacky Chen 724,135 362,067,500 0.01 16/2022, which encourages synergy between BUS and its parent company
Spin-off of the UUS, and has obtained the approval of Statement of Profit and Loss and Other Comprehensive Income of PT to improve product and service quality, thereby making post Spin-off business
the Board of Commissioners of each company, including Setiyo Wibowo 2,889,100 1,444,550,000 0.02
Eko Waluyo 2,868,364 1,434,182,000 0.02
Bank Tabungan Negara (Persero) Tbk (in millions of Rupiah) operations more effective and efficient.
its amendments.
Issued and Fully Paid Capital December 31, December 31, December 31, On the industrial growth side, the Sharia banking segment in Indonesia
SOE : State-Owned Enterprise. No. Post
Series A Dwiwarna Shares 1 500 0.00 2024 2023 2022 shows very significant growth numbers with a positive trend, with total assets
UUP2SK : Law No. 4 of 2023 dated January 12, 2023 concerning OPERATING INCOME AND EXPENSES
the Development and Strengthening of the Financial
Series B Shares 14,034,444,412 7,017,222,206,000 100.00 growing by 13.74% per year, financing growing by 13.78% and third-party
A. Interest Income and Expenses
Sector.
Total Issued and Fully Paid Capital 14,034,444,413 7,017,222,206,500 100.00 funds growing by 12.18% (Compounded Annual Growth Rate (“CAGR”)
Total Capital in the Portfolio 1. Interest Income 29,550,197 28,271,226 25,888,043
2020-2024). This exceeds the growth of conventional banking, which was
UU PDP : Law No. 27 of 2022 dated October 17, 2022 concerning Remaining Shares in the Portfolio 2. Interest Expenses 17,848,463 14,647,645 10,740,281
the Individual Data Protection. Net Interest Income 11,701,734 13,623,581 15,147,762 7.66%, 9.09%, and 7.04% each for total assets, financing, and third-party
Series A Dwiwarna Shares - - funds in the same period (source: Indonesian Banking Statistics December
UUPS : Law No. 21 of 2008 dated July 16, 2008 concerning B. Operating Income and Expenses Other than
Series B Shares 6,443,987,587 3,221,993,793,500 2024 from the OJK website).
Sharia Banking, as partially amended by UUP2SK. Interest
Total Remaining Shares in the Portfolio 6,443,987,587 3,221,993,793,500
UUS : Unit Usaha Syariah, a Sharia Business Unit is a working
1. Gain (loss) from increase (decrease) in the fair As of December 2024, the contribution of the Sharia banking market share
*) BTN repurchases no treasury shares or shares in the BTN capital structure mentioned value of financial assets (10,269) (3,978) (9,887) was recorded at 7.72% of the total national banking sector, indicating that
unit of BTN that conducts business activities based on above. 2. Gain (loss) form increase (decrease) in the fair
Sharia principles. value of financial liabilities - - -
there is still potential for future development. Based on the majority of the
**) BTN has submitted a report to the OJK regarding the current number of share ownership in Muslim population in Indonesia compared to the penetration of Sharia assets,
This Spin-off Plan is prepared with reference to the Law on Limited Liability BTN by each member of the Board of Directors and Board of Commissioners, as mentioned
3. Gain (loss) from sale of financial assets 981,949 548,061 (500,323)
Companies (UUPT) and OJK Regulation No. 12/2023. The Spin-off Plan is 4. Gain (loss) from spot and derivative/forward increasing consumer awareness, and the development of businesses based
above. transactions (realised) 4,256 89,824 21,621 on Sharia principles, the market potential in Indonesia is shown to be very
drafted and submitted to OJK, public, and employees of BTN and BSN to fulfill
the principle of information transparency. Accordingly, in accordance with the The information above is the composition of BTN shareholders as of August 5. Gain (loss) from equity method investment - - - broad. Therefore, BUS is expected to become one of the competitive Sharia
applicable provisions, a summary of Spin-off Plan is published through national 31, 2025, including information on share ownership by the Board of Directors 6. Gain (loss) from transalation of foreign exchange banks that can capture this potential so that it can contribute significantly to
newspapers and the BTN and BSN websites, including notification regarding the and Board of Commissioners of BTN. Of the shares issued by BTN and have transactions 26,348 (69,999) 119,610 the national economy and social development.
period provided to all parties, particularly the creditors of BTN and BSN, to raise been placed and fully paid, as much as 1% (one percent) of or 105,900,000 7. Dividend Income - - -
In addition, the Spin-off of UUS into BUS is in line with the implementation of
(one hundred five million nine hundred thousand) Series B shares in the 8. Commission/provision/fee and administrative 1,476,612 1,427,702 1,242,951
any objections (if any). 9. Others income 2,055,404 1,824,297 826,742
the 2023-2027 Roadmap for the Development and Strengthening of Sharia
name of PT Danantara Aset Management (Persero) are not listed on the IDX Banking (RP3SI), in which OJK continues to support the acceleration of
2. INTRODUCTION to fulfill the provisions of Article 4 paragraph (2) and (3) PP No. 29/1999 and 10. Impairment for financial assets 1,981,300 3,764,258 4,018,453
the national Sharia banking industry through five policy directions, namely
Article 39 POJK No. 41/2019. 11. Losses related to operational risk 367 - -
Pursuant to Article 68 paragraph 1 of UUPS juncto. Article 59 of POJK 12/2023, 12. Salaries and employee benefit 4,445,575 3,982,503 3,398,808 consolidating Sharia banks and strengthening UUS through a Spin-off
a BUK that already has an UUS with the UUS’s total assets reaching 50% of 3.4 The Composition of the Bank’s Board of Directors, Board of 13. Promotion expenses 551,571 537,253 469,580 process and synergy with parent banks, finalizing the formation of the
the parent BUK’s total assets and/or a minimum asset value of IDR 50 trillion Commissioners and Sharia Supervisory Board Sharia Finance Development Committee (KPKS), drafting guidelines for
14. Other expenses 5,406,160 4,685,744 5,027,222
is required to conduct the Spin-off of the UUS. The deadline for submitting the Board of Directors Operating Income (Expenses) Other Than sharia banking products, expanding access to sharia banking services, and
application for approval or consent is no later than 2 years after the deadline for Based on the Deed of Statement of Decision of the BTN Annual General Net Interest (7,850,673) (9,153,851) (11,213,349) increasing access to and assistance for sharia banking in the unbankable
submitting quarterly financial publication reports, in accordance with the OJK’s Meeting of Shareholders No. 7 dated August 5, 2025, made by Ashoya PROFIT (LOSS) FROM OPERATIONS 3,851,061 4,469,730 3,934,413 MSME sector through sharia social finance instruments.
provisions regarding transparency and publication of BUK and UUS reports. Ratam, S.H., M.Kn., Notary in South Jakarta, who has received a notification NON-OPERATING INCOME AND EXPENSES
Internal Aspects
According to the Q4 2023 quarterly financial report, BTN’s UUS has a total asset receipt report from the Minister of Law and Human Rights based on Letter No. 1. Gain (loss) on sale of fixed assets and equipment 3,989 - -
2. Other non-operational income (expenses) (82,209) (89,520) (58,723) UUS BTN has increased its performance with an upward trend, as reflected
value of IDR 54.3 trillion and, therefore, BTN’s UUS meets the obligation to be AHU-AH.01.09-0322441 dated August 8, 2025 (“PKR Deed No. 7/2025”),
PROFIT (LOSS) FROM NON-OPERATING (78,220) (89,520) (58,723) in various indicators for the period 2020 to 2024. The CAGR for the bank’s
spun off in accordance with the provisions described above. has been registered in the Company Register No. AHU-0182372.AH.01.11.
TAHUN 2025 dated August 8, 2025, the composition of the current members CURRENT YEAR PROFIT (LOSS) BEFORE TAX 3,772,841 4,380,210 3,875,690 published assets is 16.36%, financing is 15.04%, and third-party funds is
In addition to fulfilling the provisions of the UUPS and POJK 12/2023, the Spin- Income Tax 20.12%. The contribution of UUS to BTN has also continued to increase,
off of the UUS also considers the positive developments of the Sharia economy of the BTN Board of Directors is as follows:
a. Estimated current year tax -/- - (1,018,692) (1,019,298) including for assets from 9.14% in 2020 to 12.90% in 2024. Similarly,
in the future. Its implementation also takes into account the relevant laws and President Director Nixon Lambok Pahotan financing for UUS increased from 9.64% in 2020 to 12.26% in 2024, and thid-
b. Deferred tax Income (expenses) (765,513) 139,470 188,681
regulations while adhering to the principles of Good Corporate Governance. Napitupulu
NET PROFIT (LOSS) CURRENT YEAR 3,007,328 3,500,988 3,045,073 party funds increased from 8.54% in 2020 to 13% in 2024.
The Spin-off of the UUS through the transfer of rights and obligations from BTN’s Vice President Director Oni Febriarto Rahardjo PROFIT (LOSS) MINORITY INTEREST - - - The Spin-off of UUS is not only to fulfill the mandate of the UUPS, but also the
UUS to BSN represents a strategic step in strengthening BTN’s role within the Director of Operations I Nyoman Sugiri Yasa OTHER COMPREHENSIVE INCOME - - - expectation of the Controlling Shareholders. The Spin-off of UUS is carried
national banking ecosystem. This measure brings a number of significant positive Director of Treasury & International Banking Venda Yuniarti 1. Items That Will Not Be Reclassified to Profit or Loss out so that policies related to business development can be implemented
impacts for BTN, its customers, the Sharia banking industry, and the national Director of Consumer Banking Hirwandi Gafar a. Gain from revaluation of fixed assets - 57,208 200,574
with a more efficient and faster decision-making chain. The Spin-off of UUS is
economy as a whole. Director of Network & Retail Funding Rully Setiawan b. Gain (loss) from remeasurement of pension
benefit plans 168,301 (186,027) 59,872 also carried out so that the sharia business strategy becomes more focused
3. INFORMATION REGARDING THE COMMERCIAL Director of Corporate Banking Helmy Afrisa Nugroho* c. Others (31,977) 35,345 (11,376) while maintaining Banking Synergy with BTN. BTN is considered sufficiently
Director of Commercial Banking Hermita prepared to carry out the Spin-off of UUS. BTN’s extensive network of UUS
BANK CONDUCTING THE SPIN-OFF 2. Items to be Reclassified to Profit and Loss
offices spread across Java, Sumatra, Sulawesi, Kalimantan, and West Nusa
Director of Finance & Strategy Nofry Rony Poetra a. Gain (loss) from translation of financial
3.1 Name And Domicile Director of Information Technology Tan Jacky Chen statements in foreign currency - - - Tenggara, supported by Sharia Banking Services in 589 BTN office networks,
Name Director of Risk Management Setiyo Wibowo b. Gain (loss) from changes in the fair value of information technology infrastructure that is largely separate from BTN, an
financial assets of debt instrument measured at accommodating number of human resources, and the increasing financial
BTN was established under the name Postspaarbank as published in Director of Human Capital & Compliance Eko Waluyo fair value through other comprehensive income (421,538) 517,528 (1,576,967)
Staatsblad van Nederlandsch-Indie No. 653 of 1934, which was later performance of UUS from year to year, is considered feasible to operate
Board of Commissioners c. Others 70,821 (76,322) 266,580
renamed Bank Tabungan Pos pursuant to Emergency Law No. 9 of 1950 OTHER COMPREHENSIVE INCOME CURRENT
independently as a BUS.
concerning the Amendment of the Postspaarbank Law juncto. Law No. 36 Based on PKR Deed No. 7/2025, the composition of the current members of
the BTN Board of Commissioners is as follows:
YEAR AFTER TAX (214,393) 347,732 (1,061,317) 4.3 Material Transactions and Affiliates
of 1953 on Bank Tabungan Pos. Bank Tabungan Pos subsequently became TOTAL COMPREHENSIVE INCOME (LOSS) The Spin-off Plan as referred to in this Spin-off Plan is to be an affiliated
Bank Tabungan Negara pursuant to Law No. 2 of 1964 on Bank Tabungan President Commissioner Suryo Utomo CURRENT YEAR 2,792,935 3,848,720 1,983,756
transaction and a material transaction as regulated in POJK No. 42/2020 and
Negara in conjunction with Law No. 20 of 1968 on Bank Tabungan Negara. Vice President Commissioner Dwi Ary Purnomo -
Net Profit (Loss) current year attributable to:
POJK No. 17/2020 due to:
Pursuant to Government Regulation No. 24 of 1992 concerning the Independent Commissioner Ida Nuryanti*
- Owner 3,007,328 3,500,988 3,045,073 1. BTN is the controlling shareholder of BSN with a 99.9% shareholding
Adjustment of the Legal Form of Bank Tabungan Negara into a Limited Independent Commissioner Pietra Machreza Paloh
- Non-Controlling interest - - - and therefore BSN qualifies as an affiliated party, and the Spin-off plan
Liability Company (Persero), Bank Tabungan Negara’s legal form was Independent Commissioner Panangian Simanungkalit
NET PROFIT (LOSS) CURRENT YEAR 3,007,328 3,500,988 3,045,073 falls under the criteria for affiliated transactions as referred to in Article 1
adjusted into a Limited Liability Company (Persero) as referred to in Law No. Commissioner Fahri Hamzah*
9 of 1969 concerning the Ratification of Government Regulation in Lieu of Comprehensive Profit (Loss) Current Year paragraph 1 juncto. paragraph 3 of POJK No. 42/2020; and
*) Effective after obtaining approval for the fit and proper test from the OJK. attributable to:
2. Based on the BTN financial statements as of June 30, 2025, which have
Law No. 1 of 1969 on Forms of State Enterprises into Law, and Government - Owner 2,792,935 3,848,720 1,983,756
Regulation No. 12 of 1969 on Limited Liability Companies, as amended Sharia Supervisory Board been audited by a Public Accountant, the net profit of UUS as a segment
- Non-Controlling interest - - -
by Government Regulation No. 24 of 1972. With the adjustment of Bank BTN has had and formed a Sharia Supervisory Board in accordance with to be separated is 23.51% of the net profit of BTN. Therefore, the Spin-
TOTAL COMPREHENSIVE INCOME (LOSS)
Tabungan Negara’s legal form into a Limited Liability Company (Persero) as the provisions of Article 17 of BTN’s Articles of Association, which is based CURRENT YEAR 2,792,935 3,848,720 1,983,756 off plan qualifies as a material transaction as referred to in Article 3
described above, pursuant to Law No. 7 of 1992 on Banking, Bank Tabungan on Deed of Statement of Resolution of the Board of Commissioners of BTN TRANSFER OF PROFIT (LOSS) TO HEAD paragraph (2) letter c of POJK No. 17/2020.
Negara was declared dissolved upon the establishment of the Limited Liability No. 24 dated December 15, 2023, made by Ashoya Ratam, S.H., M.Kn., OFFICE - - - Referring to the terms of Article 24 of POJK No. 42/2020, in the event that
Company (Persero), with the provision that all rights and obligations, assets, Notary in South Jakarta, which has been acknowledged by the Minister of DIVIDEND - - - an affiliated transaction qualifies as a material transaction as referred to in
and employees of Bank Tabungan Negara at the time of its dissolution were Law and Human Rights based on Receipt of Notification Letter No. AHU- EARNINGS PER SHARE (in Rupiah) 214 249 288 POJK No. 17/2020, a public company is only required to comply with the
transferred to the respective Limited Liability Company (Persero). AH.01.09-0199881 dated December 22, 2023, the current membership Statement of Financial Position the UUS of PT Bank Tabungan Negara terms of POJK No. 17/2020. Therefore, based on Article 6 in conjunction
The establishment of BTN as a Limited Liability Company (Persero) was composition of the BTN Sharia Supervisory Board is as follows: (Persero) Tbk (in millions of Rupiah) with Article 11 of POJK No. 17/2020, BTN is required to disclose information
effected through the Deed of Establishment of the Limited Liability Company Chairman Prof. Dr. H. Muhammad Quraish Shihab, MA. December 31, December 31, December 31, regarding the Spin-off of UUS to the public and OJK at the latest by the end
(Persero) PT Bank Tabungan Negara “PT Bank Tabungan Negara No. Post
Member H. Mohammad Bagus Teguh Perwira, Lc, MA. 2024 2023 2022 of the second business day after the date of the affiliated transaction and
(Persero)” No. 136 dated July 31, 1992, executed before Muhani Salim, Member H. Muhammad Faiz, Lc, MA. ASSETS material transaction, however BTN is exempted from the duty to: (i) obtain
S.H., Notary in Jakarta, which received approval from the Minister of Justice 1. Cash 117,279 109,085 112,768 a fairness opinion; and (ii) obtaining approval from the GMS or independent
3.5 The Financial Publication Reports and Financial Performance
of the Republic of Indonesia by Decree No. C2-6587.HT.01.01.TH.92 dated 2. Placements With Bank Indonesia 4,530,152 6,440,216 5,459,362 GMS (as applicable).
Information of BUK and UUS During the Last 3 (Three) Financial Years
August 12, 1992, was registered in the registry at the South Jakarta District 3. Placement With Other Banks 201 200 1,198
The summary of key financial data below is prepared based on figures quoted The exemption is applicable because the plan of UUS BTN Spin-off qualifies
Court on August 18, 1992 under No. 603/A.P.T/Wapan/1992/PNJS, and 4. Securities owned 10,436,953 10,795,395 8,927,958
from the financial statements as of December 31, 2024, 2023, and 2022 for for the following criteria as regulated in Article 6 of POJK No. 17/2020.:
was published in the State Gazette of the Republic of Indonesia (BNRI) No. 5. Financing Receivables 37,852,489 32,488,789 26,776,404
73 dated September 11, 1992, Supplement No. 6A (“BTN Establishment the period ended on those dates. The financial statements as of and for the 6. Profit Sharing Financing 6,030,813 4,624,042 4,847,735 1. conducted with a controlled company of which at least 99% of the shares
Deed”). year ended December 31, 2024, have been audited by the Public Accounting 7. Lease Financing 9,525 1,450 - are owned by the public company;
Firm Purwanto, Susanti & Surja with an Unqualified Opinion, signed by 8. Others Productive Assets - - - 2. conducted between a publicly listed company that is a financial services
The Articles of Association of BTN contained in the BTN Establishment Deed
Christophorus Alvin Kossim with Public Accountant Registration No. AP.1681, 9. Allowance for impairment losses on productive institution and a controlled company that is a sharia financial services
have undergone several amendments, with the latest amendment being (1,329,256) (1,400,430) (1,572,011)
the financial statements as of and for the year ended December 31, 2023, assets-/- institution for the purpose of developing sharia financial services
based on the Deed of Statement of Annual General Meeting of Shareholders
have been audited by the Public Accounting Firm Purwanto, Susanti & Surja 10. Fixed assets and Equipment 40,574 23,259 19,482
Resolution No. 47 dated March 26, 2025, executed by Ashoya Ratam, institutions;
with an Unqualified Opinion, signed by Christophorus Alvin Kossim with Public 11. Non-productive Assets - - -
S.H., M.Kn., Notary in South Jakarta, which received approval pursuant 3. conducted in order to fulfill obligations in accordance with the term of
Accountant Registration No. AP.1681 and the financial statements as of and 12. Other Assets 2,872,227 1,206,703 762,679
to the Decree of the Minister of Law and Human Rights of the Republic of laws and regulations; and
for the year ended December 31, 2022, have been audited by the Public TOTAL ASSETS 60,560,957 54,288,709 45,335,575
Indonesia No. AHU-AH.01.03-0111636 dated April 24, 2025 (“Deed of AGM
Accounting Firm Purwanto, Susanti & Surja with an Unqualified Opinion, LIABILITIES AND EQUITY 4. conducted in the context of restructuring publicly listed companies that
Resolution No. 47/2025”).
signed by Muhammad Kurniawan with Public Accountant Registration No. LIABILITIES are directly or indirectly controlled by the government.
Domicile AP.0240. The summary of the financial data is described below: 1. Wadiah Deposits 4.4 Legal Consequences of Spin-off
BTN is domiciled in Central Jakarta, with its address at Menara BTN Jl. Gajah Statement of Financial Position BTN (in millions of Rupiah) a. Demand Deposits 18,882,766 13,439,465 8,623,601
Mada No. 1, Kelurahan Petojo Utara, Kecamatan Gambir, Jakarta Pusat, b. Savings Deposits 1,521,932 1,276,592 1,193,717
The Spin-off of UUS by BTN was conducted by separating UUS, which
Indonesia. No. December 31, December 31, December 31, 2. Non-Profit Sharing Investment Funds
resulted in all rights and obligations of BTN in relation to UUS being
Post transferred by law to BSN based on the Deed of Spin-off in accordance with
2024 2023 2022 a. Demand Deposits 941,925 726,061 480,787
3.2 Business Activities and Office Network the term of the laws and regulations.
ASSETS b. Savings Deposits 6,287,780 5,473,242 4,819,113
Pursuant to Deed of AGM Resolution No. 47/2025, BTN has the purpose and 1. Cash 2,105,620 2,127,489 1,661,533 c. Time Deposits 21,987,804 20,887,524 19,523,557 Therefore, on the Effective Date of Spin-off, all rights and obligations of UUS
objective of conducting business activities in the banking sector, as well as 2. Placement with Bank Indonesia 27,400,963 48,706,822 37,992,835 3. Liabilities to Bank Indonesia - - - BTN are transferred legally to BSN, the implementation of which continues
optimizing the use of BTN’s resources to provide high-quality and competitive 3. Placement with Other Banks 5,951,807 2,203,459 1,872,318
services in order to generate or pursue profits to enhance BTN’s value, in
4. Liabilities to other Banks 31,244 23,235 40,028 to comply with the terms of laws and regulations and the principles of good
4. Spot and Derivative Receivables/Forward 102,843 32,176 103,939 5. Securities issued 377,269 265,846 - corporate governance.
accordance with the principles of a Limited Liability Company.
Page 2
2
On the effective date of Spin-off, the following shall be applicable: The Articles of Association of BSN, as contained in the Deed of Establishment December 31, December 31, December 31, Historical Historical Transaction
No. Items
1. All operations, businesses, activities, and operations of UUS BTN are of BSN, have undergone several amendments, with the most recent 2024 2023 2022 Items after BSN after UUS BTN adjustment Proforma
amendment to the Articles of Association and Company Data of BSN based reclassification reclassification Debit/(credit)
transferred by law to and will be managed by BSN for the benefit, loss, Mudharabah financing
and liability of BSN as the receiving party of the Spin-off. on the Shareholders’ Decision Statement Deed BVIS No. 58 dated August 2. Items That Will Be Reclassified to Profit or Loss
27, 2025, made before Ashoya Ratam, S.H., M.Kn., Notary in Jakarta, which Third parties 125,306 16,790 - 142,096
a. Gain/Loss from Translation Adjustments of - - -
2. All permits, facilities, licenses, approvals, and utilizations that have Financial Statements in Foreign Currencies Related parties - - - -
been granted by the competent authorities to BTN/UUS in the context has: (i) been approved by the Minister of Law and Human Rights (Menkum)
b. Gain/Loss from Changes in Fair Value (MTM) (552) 742 1,569 125,306 16,790 - 142,096
under Decision No. AHU-0058198.AH.01.02.YEAR 2025 dated August 28,
of operations, businesses, and UUS BTN activities will be submitted for of Equity Instruments Measured at Fair Value Allowance for impairment losses (1,253) (7,287) - (8,540)
2025, and registered in the Company Register under No. AHU-0201042.
revocation in accordance with the procedures stipulated in the laws and Through Other Comprehensive Income 124,053 9,503 - 133,556
AH.01.11.YEAR 2025 dated August 28, 2025; and (ii) received notification
regulations. c. Others - - - Qard receivables
of receipt from the Minister of Law and Human Rights via Letter No. AHU- OTHER COMPREHENSIVE INCOME FOR THE (481) 429 1,569
3. All reasonable costs, whether direct or indirect, caused by the transfer Third parties - 20,793 - 20,793
AH.01.03-0231591 dated August 28, 2025, and registered in the Company YEAR, NET OF TAX
of operations, businesses, activities, and permits, approvals, licenses, Related parties - 111 - 111
Register under No. AHU-0201042.AH.01.11.YEAR 2025 dated August 28, TOTAL COMPREHENSIVE INCOME (LOSS) 19,727 10,204 6,681
facilities, and registrations from BTN/UUS to BSN shall be the FOR THE YEAR - 20,904 - 20,904
2025.
responsibility of BSN. Allowance for impairment losses - (345) - (345)
Domicile - 20,559 - 20,559
4. All office network of UUS BTN, including the head office of UUS BTN, Net Profit (Loss) for the Year Attributable to:
BUS is domiciled in south Jakarta, with its address at Gedung Graha BIP - Owners 20,209 9,775 4,100 Income received from profit sharing 28,201 222,415 - 250,616
sharia branch offices, sharia sub-branch offices, functional offices, cash
Lantai 5, Jl. Gatot Subroto Kav. 23, Kelurahan Karet Semanggi, Kecamatan - Non-Controlling Interests - - 1,013 Assets acquired for ijarah 109,562 9,525 - 119,087
offices, cash service units of UUS BTN, one of which is a mobile cash
Setiabudi, Jakarta Selatan, Indonesia. TOTAL NET PROFIT (LOSS) FOR THE YEAR 20,209 9,775 5,113 Investment in shares - net 29 - - 29
unit, as well as all Sharia Services of Bank UUS BTN, since the Effective Fixed assets
Date of Spin-off, have become part of the BSN office network. 5.2 Capital Structure and Shareholders
Acquisition cost 16,063 192,018 - 208,081
5. All matters arising before the Effective Date of Spin-off relating to all The latest capital structure and composition of shareholders of BSN Comprehensive Income (Loss) for the Year
Attributable to: Accumulated depreciation (12,737) (151,444) - (164,181)
rights and obligations of UUS BTN shall be continued by BSN, and all are established in accordance with the Extraordinary General Meeting
- Owners 19,725 10,202 5,358 3,326 40,574 - 43,900
costs, expenses, and obligations arising in the handling of matters after of Shareholders Deed BVIS No. 91 dated June 5, 2025, made before Intangible assets
- Non-Controlling Interests 2 2 1,324
the Effective Date of Spin-off shall be borne by BSN, unless otherwise Suwarni Sukiman, S.H., Notary in Jakarta, which has received notification Acquisition cost 8,721 - - 8,721
TOTAL COMPREHENSIVE INCOME (LOSS) 19,727 10,204 6,681
determined by BTN and BSN. of receipt from the Minister of Law and Human Rights via Letter No. AHU- FOR THE YEAR Accumulated amortization (7,735) - - (7,735)
AH.01.09-0295454 dated June 9, 2025, and registered in the Company 986 - - 986
6. All rights and obligations of UUS BTN are transferred to BSN, which Register under No. AHU-0125951.AH.01.11.YEAR 2025 dated June 9, 2025.
in its implementation continues to comply with the terms of laws and DIVIDENS - - - Prepaid expenses 639 473,905 - 474,544
The capital structure and composition of shareholders of BSN are as follows: EARNINGS PER SHARE (in Rupiah) - - - Other assets 26,434 2,268,685 27,468 2,322,587
regulations.
Nominal Value: IDR 1,000 per share Allowance for impairment losses (22,400) (94,883) - (117,283)
4.5 Plan for Continuation and/or Termination of the UUS Office Network Informations
Number of Shares Total Nominal Value Ownership 6. INFORMATION REGARDING BUS POST SPIN-OFF 4,034 2,173,802 27,468 2,205,304
All UUS office network, including the UUS BTN mobile cash office, since (%)
6.1 Name and Domicile Deferred tax assets - net 5,441 2,106 - 7,547
the Effective Date of Spin-off will become BSN office network and mobile Authorized Capital 1,438,000,000 1,438,000,000,000 TOTAL ASSETS 3,314,468 60,560,957 27,468 63,902,893
cash office. Issued and Fully Paid-up Capital Name
LIABILITIES, SYIRKAH FUNDS, &
4.6 Plan for Continuation and/or Termination of UUS Business Activities PT Bank Tabungan Negara (Persero) Tbk. 1,059,982,683 1,059,982,683,000 99.99837 BUS post Spin-off, namely BSN, has its name and domicile as described in EQUITY
Balai Harta Peninggalan Jakarta 17,317 17,317,000 0.00163 Section 5.1 of this Spin-off Plan. LIABILITIES
Considering the Business Plan, Including Adjustment Measures and
Time Target for Adjustment of Activities Total Issued and Fully Paid-up Capital 1,060,000,000 1,060,000,000,000 100.00000 Domicile Liabilities due immediately 281 745,759 - 746,040
Total Unissued Shares 378,000,000 378,000,000,000 Post Spin-Off, BSN, shall be domiciled in Central Jakarta with its registered Wadiah deposit
Since the Effective Date of Spin-off, all operations, businesses, activities, and Wadiah demand deposits
operations of UUS have been legally transferred to BSN as the receiving 5.3 Composition and Names of the Members of the Board of Directors, address at Menara BTN, 11th Floor, Jl. Gajah Mada No. 1, Kelurahan Petojo
party of the Spin-off. This includes all permits, facilities, licenses, approvals, Board of Commissioners, and Sharia Supervisory Board Utara, Kecamatan Gambir, Jakarta Pusat, Indonesia. Third parties 25,434 2,251,335 - 2,276,769
Related parties 34 16,627,618 - 16,627,652
and utilizations that have been granted by the competent authorities to BTN The most recent composition of the Board of Directors and Board of 6.2 Office Network
25,468 18,878,953 - 18,904,421
in the context of the operations, businesses, activities, and operations of Commissioners of BSN is in accordance with the Shareholders’ Decision Effective from the Spin-off Date, BSN will conduct its business activities Wadiah saving deposits
UUS, which will be conducted for registration and application by BSN to the Statement Deed BVIS No. 60 dated August 27, 2025, made before Ashoya through the entire network of BTN’s UUS offices, the Sharia services already Third parties - 1,519,814 - 1,519,814
competent authorities. All operations, activities, businesses, and products Ratam, S.H., M.Kn., Notary in Jakarta. The composition of the Board of operating at BTN, and 1 (one) BSN Sharia Branch Office (“KCS”), namely Related parties - 1,441 - 1,441
existing in UUS BTN, including all products and activities currently under Directors and Board of Commissioners of BSN is as follows: KCS Tomang, located at The Victoria Building, 1st Floor, Jl. Tomang Raya
- 1,521,255 - 1,521,255
development and/or licensing/reporting to OJK, will be transferred to BSN. Board of Directors Kav. 35-37, West Jakarta
Deposits from other bank 815,000 4,489 - 819,489
4.7 Settlement of Rights and Obligations of BUK to Third Parties Related to President Director Alex Sofjan Noor* As of August 31, 2025, the UUS office network consisted of 1 UUS Head Undistributed profit sharing 2,929 87,581 - 90,510
the Spin-Off Vice President Director Arga M. Nugraha* Office, 35 Sharia Branch Offices (KCS), 76 Sharia Sub-Branch Offices Lease liabilities 3,279 - - 3,279
(KCPS), 589 Sharia Service Offices (KLS), and 7 Mobile Cash Units / BTN Deferred income 3,034 - - 3,034
The announcement to the public is intended to ensure transparency and to Director of Finance, Strategy & Treasury Abdul Firman* Move, along with any additional UUS offices (if any) established prior to the
provide an opportunity for parties related to BTN, which owns UUS, rights Taxes payable 3,713 20,478 - 24,191
Director of Consumer Banking Mochamad Yut Penta* Spin-off Effective Date.
over the to-be implemented Spin-off Plan. One of the interests that needs Other liabilities 20,642 4,594,752 (3,802,762) 812,632
Director of Human Capital & Compliance Anton Rijanto* 6.3 Business Activities/Products/Operations Long term employee benefits liabilities 3,389 - 176,058 179,447
to be protected in the Spin-off is the interests of creditors. In the Spin-off Director of Risk Management Beki Kanuwa*
process, creditors have certain rights as regulated in the following rules and BSN will operate in the field of Sharia Commercial Banking. BSN will carry Securities issued - 377,269 - 377,269
Director of Network & Retail Funding Ari Kurniaman* out its main business activities as well as supporting business activities, Fund borrowings - 4,213,449 - 4,213,449
regulations:
Board of Commissioners including but not limited to: TOTAL LIABILITIES 877,735 30,443,985 (3,626,704) 27,695,016
(a) Creditors may file objections with BTN within a maximum period of 14 TEMPORARY SYIRKAH FUNDS
(fourteen) days after the announcement of the summary of Spin-off Plan President Commissioner concurrently 1) Collecting funds in the form of savings in the form of Demand Deposits,
Savings Deposits, or other forms that are similar to these, based on the Mudharabah demand deposits
to the public as regulated in Article 127 paragraph (4) of the UUPT. Independent Commissioner Bahrullah Akbar*
Wadi’ah Agreement or other agreements that do not conflict with Sharia Third parties - 939,154 - 939,154
(b) If within a maximum period of 14 (fourteen) days the creditor does not Independent Commissioner Ilham Nurhidayatuloh* Related parties - 11,985 - 11,985
principles.;
file an objection, the creditor is deemed to have approved the Spin-off as Independent Commissioner Lukman Khakim* - 951,139 - 951,139
2) Collecting funds in the form of investments based on Mudharabah
regulated in Article 127 paragraph (5) of the UUPT. Commissioner Machhendra Setyo Atmaja* Mudharabah saving deposits
contracts or other contracts that do not conflict with Sharia principles, the
(c) In the case of creditor objections up to the date of the EGMS that Commissioner Hilman Latief* risks of which are borne by the investor customer; Third parties 6,740 6,183,617 - 6,190,357
cannot be resolved by the BTN Board of Directors, the objections must *) Effective after obtaining approval for the fit and proper test from the OJK. Related parties - 125,893 - 125,893
3) Distributing profit-sharing financing based on Mudharabah Contract, 6,740 6,309,510 - 6,316,250
be submitted at the EGMS for resolution as regulated in Article 127 The latest composition of the Sharia Supervisory Board of BSN is pursuant Musyarakah Contract, or other contracts that do not conflict with Sharia
paragraph (6) of the UUPT. Mudharabah time deposit
to the Deed of Extraordinary General Meeting of Shareholders of BVIS No. principles; Third parties 1,308,199 15,130,696 - 16,438,895
(d) Settlement by the Board of Directors or the Extraordinary General 31 dated June 20, 2024, drawn up before Suwarni Sukiman, S.H., Notary 4) Distributing financing based on a Mudharabah Agreement, Salam Related parties 30,931 6,857,408 - 6,888,339
Meeting of Shareholders may take the form of a settlement of objections in Jakarta, which has received notification acknowledgment from the he Agreement, Istishna Agreement, or other contracts that do not conflict 1,339,130 21,988,104 - 23,327,234
or the esthablishment of a settlement scheme agreed with creditors, Ministry of Law through Letter No. AHU-AH.01.09-0219333 dated June 27, with Sharia principles; Total temporary syirkah fund 1,345,870 29,248,753 - 30,594,623
which shall be contained in a notary deed in Indonesian language. 2024, and registered in the Company Register No. AHU-0128291.AH.01.11. 5) Distributing financing based on the Qardh contract or other contracts that EQUITY
With regard to the rights of third parties in agreements, akad, contracts, TAHUN 2024 dated June 27, 2024. The composition is as follows: do not conflict with Sharia principles; Capital stock 1,060,000 - 4,522,391 5,582,391
and other binding instruments related to UUS activities between BTN and Sharia Supervisory Board 6) Distributing financing for the rental of movable or immovable assets to Unrealized Loss on Changes in Fair (1,487) (8,978) 8,978 (1,487)
third parties, including the recipient of financing, based on sharia principles Chairman Misbahul Ulum customers based on the Ijarah contract and/or lease purchase in the form Value of Investments in Securities
shall be transferred to BSN by operation of law and, if required under the Measured at Fair Value Through Other
Member Syarif Hidayatullah of Ijarah muntahiya bittamlik or other contracts that do not conflict with Comprehensive Income – Net
agreement, contract, and other binding instruments, which will be further Sharia principles; Retained earnings - - - -
emphasized through the signing of agreements for the transfer of rights and/ 5.4 Financial Publication Reports and Business Performance of BUS for 7) Taking over debt based on the Hawalah contract or other contracts that Appropriated 9,156 - - 9,156
or obligations based on sharia principles between BTN, third parties, and the Last 3 (Three) Fiscal Years
do not conflict with Sharia principles; Unappropriated 23,194 877,197 (877,197) 23,194
BSN, in accordance with laws and regulations. The summary of key financial data below has been prepared based on figures
8) Conducting debit card and/or financing card business based on Sharia TOTAL EQUITY 1,090,863 868,219 3,654,172 5,613,254
4.8 Procedures for Resolving the Rights of Shareholders Who Disagree extracted from the Financial Statements as of December 31, 2024, 2023, and
principles; TOTAL LIABILITIES, TEMPORARY 3,314,468 60,560,957 27,468 63,902,893
with the spin-off 2022 for the periods then ended. The Financial Statements as of and for the SYIRKAH FUNDS, AND EQUITY
year ended December 31, 2024, were audited by Public Accounting Firm 9) Providing banking services based on Sharia principles;
Any objections by minority shareholders to the UUS Spin-off will be resolved Notes:
Heliantono dan Rekan with an Unqualified Opinion, signed by Ade Ikhwan, 10) Purchasing, selling, and/or guaranteeing at one’s own risk third-party
in accordance with the laws and regulations to be applicable. Both BTN Public Accountant Registration No. AP.0916. The Financial Statements securities issued based on actual transactions, based on Sharia BSN’s historical financial information is extracted from the BSN financial
and BSN will endeavor to resolve the rights of minority shareholders if BTN as of and for the year ended December 31, 2023, were audited by Public principles; report published by BSN Management for the period ending December 31,
rejects the UUS Spin-off to BSN. Minority shareholders who disagree with Accounting Firm Heliantono dan Rekan with a Qualified Opinion, signed 2024 (audited).
11) Purchasing securities based on Sharia principles issued by the
the UUS Spin-off cannot cause the UUS Spin-off process to be terminated. by Ade Ikhwan, Public Accountant Registration No. AP.0916. The Financial Government and/or Bank Indonesia; The UUS’s historical financial information is extracted from BTN’s financial
4.9 Procedures for Resolving the Status, Rights, and Obligations of the Statements as of and for the year ended December 31, 2022, were audited report for the year ended December 31, 2024. The classification of the UUS
12) Receiving payments from bills on securities and conducting settlements financial statement items has been adjusted to the classification of BSN
Sharia Supervisory Board and UUS Employees Related to the Spin-off by Public Accounting Firm Mirawati Sensi Idris with a Disclaimer of Opinion, with third parties or between third parties based on Sharia principles;
signed by Yelly Warsono, Public Accountant Registration No. AP.0148. The financial statement items.
With the Spin-off of UUS, BTN is committed to making all employees working 13) Transferring money, both for one’s own benefit and for the benefit of
at UUS into employees at BSN who qualify and fit the criteria, as required summary of financial data is presented below: For purposes of recording adjustments, the Spin-Off transaction is assumed
customers, based on Sharia principles; to be executed as an inbreng transaction, with the net book value of the UUS
by applicable laws and regulations. Meanwhile, the settlement of the status, BSN Statement of Financial Position (in IDR million) 14) Transferring and/or placing funds with, borrowing funds from, or lending
rights, and obligations of the Sharia Supervisory Board at BTN will be serving as the basis.
No. Accounts
December, December, December, funds to other banks, whether using letters, telecommunications, drafts, 6.7 Projection of Health Level During 2 (two) Assessment Periods Since the
resolved in accordance with the term of laws and regulations. The Spin-off 31 2024 31 2023 31 2022 checks, or other means;
of UUS will be conducted while taking into account the rights and obligations Effective Date of Spin Off
ASSETS 15) Providing a place to store goods and securities based on Sharia
of employees based on the terms of applicable laws and regulations. The 1. Cash 838 336 714
The projection of the BUS health level in 2 (two) assessment periods,
principles; Semester II – position December 2025 and Semester I – position June
placement of employees at BSN will be carried out in accordance with 2. Placement with Bank Indonesia 79,811 64,506 147,022
applicable laws and regulations, especially the Labour Law, without reducing 16) Conducting the safekeeping/storage of assets for the benefit of other 2026, is assessed with a rating of 2 (two) or Healthy, reflecting the bank’s
3. Placement with Other Banks 1,222 1,827 1,435 parties based on Sharia principles;
the remuneration and benefits that have been receiving from BTN. In condition which is generally healthy so that it is assessed as being able to
4. Spot and Derivative Receivables/Forward - - -
addition, the length of service of employees will also continue from the time 17) Conducting activities in the payment system sector; face significant negative effect from changes in business conditions and
5. Securities owned 1,779,438 1,719,064 1,268,055
they started working at BTN. 18) Function as a trustee based on the Wakalah Agreement; other external factors..
6. Receivables from Securities Purchased under - - -
If there are UUS employees who do not agree to the transfer of employment Agreement to Resell (reverse repo) 19) Providing letter of credit and/or bank guarantee facilities based on Sharia 6.8 Explanation of the Benefits and Potential Risks Arising from the Spin-
to BSN as described above, then these employees will remain as BTN 7. Acceptance receivable - - - principles; off, Along with Risk Mitigation
employees and will be assigned by BTN. All matters relating to the status, 8. Loans 323,961 334,831 147,911 20) Conducting receivables transfer activities; The benefits of the spin-off of the UUS are as follows:
rights, and obligations of UUS employees will be governed by the provisions 9. Sharia financing 987,214 777,124 474,842 • Sharia business strategy becomes more focused;
10. Lease financing 109,562 110,250 200
21) Conducting equity participation activities in Sharia Commercial Banks
of the applicable laws and regulations. or financial services institutions conducting business activities based on • The ability to compete with other BUS, thereby enabling responsiveness
11. Investment in Share 29 29 29 to the increasingly dynamic and complex developments in the sharia
4.10 Personal Data Protection Sharia principles;
12. Other financial assets 28,201 19,637 12,378 banking industry;
Since the Effective Date of Spin-off, all assets and liabilities related to UUS 13. Allowance for impairment losses on financial (10,232) (14,236) (6,205) 22) Conducting equity participation activities in non-financial institutions
BTN have been legally transferred to BSN, including agreements or contracts assets -/- that support the Sharia banking industry, in accordance with Sharia • Supporting the expansion of the sharia banking market share in
with UUS BTN customers that have been signed by BTN. On the Effective 14. Salam - - - principles, and in accordance with the requirements set by the OJK; Indonesia;
Date of Spin-off, BSN will become the service provider and the contracting 15. Istisna’ assets in the settlement of Istisna’ - - - 23) Conducting temporary equity participation activities to address the • For BTN, the benefit lies in having a subsidiary dedicated to sharia
party with UUS BTN customers. installments -/- consequences of Sharia-based financing failures, provided that the banking; and
16. Inventory - - - participation must be withdrawn in accordance with statutory regulations; • Compliance with the requirements of the Sharia Banking Law (UUPS).
In order to comply with the regulation in Article 48 of the PDP Law, on the
17. Intangible assets 986 1,401 616
Effective Date of Spin-off, personal data previously controlled by UUS 24) Acting as the founder and manager of Sharia-based pension funds in The potential risks arising from the spin-off of the UUS and their mitigation
18. Fixed assets and Equipment 3,326 6,397 1,643
BTN will be transferred to BSN, and BSN will become the controller of the accordance with statutory regulations regarding pension funds; measures are as follows:
19. Non-performing assets - - -
customer’s personal data. a. Abandoned property - - - 25) Conducting activities in the capital market as long as they do not conflict No. Risk Mitigation
4.11 Financial Statement Projections of BUK post Spin-off b. Foreclosed collaterals 658 43,436 47,491 with Sharia principles and the provisions of laws and regulations in the 1. Inadequate risk management or misalignment with Establishment and strengthening of the risk
The following is a projection of the BTN financial statements after conducting c. Suspense account - - -
capital market sector; the business objectives of the BUS management unit in the BUS post Spin-off,
in alignment with BTN Group’s overall risk
Spin-off. d. Interoffice assets - - - 26) Organizing banking activities or products based on Sharia principles management framework, including risk strategy
20. Other assets 9,457 17,678 14,699 using electronic means; formulation and risk limits.
BTN Financial Statement (in millions of rupiah)
TOTAL ASSETS 3,314,469 3,082,279 2,110,830 27) Issuing, offering, and trading short-term securities based on Sharia 2. Potential service disruptions after the spin-off, a. Implementation of prudential principles in
BTN BTN UUS BTN BTN BUS including cybersecurity threats the spin-off of the UUS through a phased
Conventional Conventional
LIABILITIES AND EQUITY principles, either directly or indirectly, through the money market; implementation approach and risk-based
LIABILITIES 28) Issuing, offering, and trading long-term securities based on Sharia management, including regular monitoring
No. Items December December December December December December
31, 2024 31, 2024 31, 2024 31, 2025 31, 2025 31, 2025 1. Wadiah Deposits principles, either directly or indirectly, through the capital market; of cybersecurity.
a. Demand Deposits 25,468 23,569 22,111 b. Mapping potential service disruptions and
Actual Actual Actual Projection Projection Projection 29) Cooperating with other financial services institutions and cooperating formulating mitigation measures to ensure
ASSETS b. Savings Deposits - - - with other non-financial services institutions in providing financial service continuity for customers remains
1. Cash 2,105,620 1,988,341 117,279 3,117,864 3,015,326 102,538 2. Non-profit-sharing investment funds services to customers; optimal after the UUS spin-off.
2. Placement with Bank Indonesia 27,400,962 22,870,810 4,530,152 27,019,672 21,101,352 5,918,319 a. Demand Deposits - - - c. Conducting vulnerability assessments and
b. Savings Deposits 6,166 42,465 22,130
30) Providing products or conducting other financial services activities based penetration tests on affected applications,
3. Placement with other banks 5,951,808 5,951,607 201 2,230,002 2,229,336 666 on Sharia principles and applicable laws and regulations; as well as implementing comprehensive
4. Spot and derivative receivables 102,843 102,843 - 959 959 - c. Time Deposits 1,332,130 1,067,020 767,680 cybersecurity checks, followed by continuous
3. Electronic money - - - 31) Performing social functions in the form of a baitulmal institution, namely cybersecurity monitoring in collaboration with
5. Securities owned 57,339,640 46,902,687 10,436,953 57,378,350 43,328,103 14,050,247
4. Liabilities to Bank Indonesia - - - receiving funds from zakat, infaq, sadaqah, grants, or other social funds BTN.
6. Securities Sold Under Repurchase
Agreement (repo) 3,499,300 3,499,300 - 3,554,927 3,554,927 - 5. Liabilities to Other Banks 7,575 8,185 4,500 and distributing them to zakat management organizations; 3. Potential industrial relations issues arising from the a. BTN, assisted by an independent consultant,
32) Collecting social funds from cash waqf and acting as waqf/nazir transfer of employees to the BUS has prepared a human capital study related
7. Receivables from Securities 6. Spot and derivative/forward payable - - - to the Spin-off Plan of the UUS, including
Purchased under Agreement to Resell 7. Securities issued 815,000 820,000 225,000 managers and/or distributing them through waqf/nazir managers in the mechanism for transferring employees
(reverse repo) 175,625 175,625 - 1,121,001 1,121,001 - 8. Acceptance Liabilities - - - accordance with the wishes of the waqf/wakif donor; to the BUS.
8. Acceptance receivable 941,898 941,898 - 391,221 391,221 - 9. Loans/Financing Received - - - 33) Conducting Bullion business activities based on Sharia principles, b. Announcement of the Spin-off Plan to
9. Loans 314,080,105 314,080,105 - 342,649,779 342,649,779 - employees will be carried out in accordance
10. Guarantee deposits - - - including gold savings, gold financing, gold trading, gold safekeeping, with the timeline.
10. Sharia financing 43,892,827 - 43,892,827 51,640,696 - 51,640,696 11. Interoffice payables - - - and other business activities in accordance with statutory provisions; c. Preparation and implementation of a Change
11. Investment in Subsidiaries - - - - 6,946,931 - 12. Other liabilities 37,267 49,904 8,477 Management & Communication Strategy,
12. Allowance for impairment losses on
34) Conducting other activities in the field of Sharia banking and/or social including the stages and mechanisms of
13. Profit Sharing Investment Fund - - - sectors with the approval of the OJK, provided they do not conflict with
financial assets -/- (13,062,532) (11,733,276) (1,329,256) (15,000,944) (13,362,567) (1,638,377) socialization to UUS employees.
14. Minority Interest - - - Sharia principles and comply with statutory provisions.
13. Intangible assets 122,009 122,009 - 204,300 204,300 -
TOTAL LIABILITIES 2,223,606 2,011,143 1,049,898 4. Potential legal claims arising from the transfer a. Engaging legal consultants in the Spin-off
14. Goodwill - - - 525,582 - - All operations, activities, businesses, and products of BTN UUS prior to the
EQUITY of rights and obligations of the UUS to the BUS, process.
15. Fixed assets and Equipment 9,176,131 9,135,557 40,574 11,263,202 11,097,874 165,328 Effective Date of the Spin-off, including all products and activities of BTN UUS including third-party contracts or other legal b. Carrying out active communication/
15. Paid-in Capital
16. Abandoned property 1,410 1,410 - 1,410 1,410 - currently in the process of licensing/reporting to OJK and Bank Indonesia, obligations after the UUS spin-off. notifications to customers on a regular basis
a. Authorized Capital 1,438,000 1,438,000 1,438,000
17. Foreclosed collaterals 77,591 77,591 - 77,591 77,591 - shall be carried out by BSN as of the Effective Date of the Spin-off. Certain through various communication channels.
b. Unpaid Capital -/- (378,000) (378,000) (378,000) c. Providing notifications and/or obtaining
18. Suspense accounts - - - - - - operations, activities, businesses, and products of BSN prior to the Effective
c. Treasury stock -/- - - - consent from third parties (if required),
19. Interoffice assets - 4,468,823 - - - - Date of the Spin-off, including BSN products and activities currently in the in accordance with the substance of the
16. Additional Paid-in Capital
20. Allowance for impairment losses on process of licensing/reporting to OJK and Bank Indonesia, shall continue to agreements with the respective third parties.
a. Agio - - -
other assets -/- (286,843) (191,960) (94,883) (313,644) (191,960) (121,684) be carried out by BSN. 5. Potential failure to achieve the business plan a. Develop a business feasibilty study related
b. Disagio - - - (strategic risk) due to targets that are not aligned to the planned Spin-off of the UUS BTN,
21. Provision for Write-Off of Non- 6.4 List of Prospective Shareholders
Performing Assets -/- (1,410) (1,410) - (1,410) (1,410) - c. Donated Capital - - - with the Bank’s Corporate Plan (RKAP) or including a business plan to support the
22. Lease financing - - - - - - d. Funds for paid-up capital - - - BSN will increase its issued and paid-up capital as part of the implementation Business Plan (RBB). achievement of the BUS business objectives
23. Deferred tax assets 2,286,038 2,283,932 2,106 2,098,777 2,098,777 - e. Others - - - of the Spin-Off through the transfer of the assets and liabilities of UUS BTN with the assistenace of independent
to BSN. The total increase in issued and paid-up capital is estimated to be up consultant.
24. Other assets 15,811,482 15,503,064 2,965,005 18,099,770 16,308,991 1,790,778 17. Other Comprehensive Income b. Banking synergies to support the growth of
TOTAL ASSETS 469,614,502 416,178,955 60,560,957 506,059,105 440,571,941 71,908,513 a. Gain - - - to IDR 5,319 trillion, such that following the Spin-Off, the issued and paid-up BUS’s business.
b. Loss -/- (1,840) (1,359) (1,787) capital of BSN will amount to IDR 6,379 trillion, which will form part of its core c. Dedicated Work Unit responsible for
LIABILITIES AND EQUITY subsidiary business management conducts
18. Reserves capital, thereby categorizing BSN as a KBMI 2 Bank. Accordingly, as of the
LIABILITIES monitoring and performance evaluation of
a. General reserves 9,156 9,156 9,156 Effective Date of the Spin-Off, the following will reflect the capital structure BUS periodically to ensure that the business
1. Demand deposits 159,906,027 141,023,262 18,882,765 179,652,496 156,411,126 23,241,370
b. Appropriated reserves - - - and shareholding composition of BSN: performance of BUS is achieved.
2. Saving deposits 39,222,081 37,700,149 1,521,932 52,205,636 43,021,628 9,184,008
3. Time deposits 153,321,383 153,321,383 - 163,287,692 163,287,692 - 19. Profit/Loss Par Value of IDR 1,000 per Share 6. Potential sanctions/fines due to non-compliance a. Establishment of an independent compliance
a. Prior Years 3,338 (6,437) (11,550) Descriptions Ownership with external regulations, including applicable unit.
4. Revenue sharing investment fund 29,217,509 - 29,217,509 25,794,729 - 25,794,729 Number of Shares Total Par Value sharia principles. b. Appointment of a competent Sharia
b. Current Year 20,209 9,775 5,113 (%)
5. Liabilities to Bank Indonesia - - - (0) (0) - Supervisory Board (DPS).
c. Dividends Paid -/- - - - Authorized Capital 6,471,000,000 6,471,000,000,000 c. Regular monitoring of the BUS’s compliance.
6. Liabilities to other bank 104,746 73,502 31,244 92,031 60,114 31,917
TOTAL EQUITY ATTRIBUTABLE TO OWNERS Issued and Fully Paid Capital 7. Potential negative perception from the public or a. Minimizing potential service disruptions after
7. Spot and derivative/forward payable - - - 434 434 -
TOTAL EQUITY 1,090,863 1,071,136 1,060,932 PT Bank Tabungan Negara (Persero) Tbk 6,378,982,683 6,378,982,683,000 99.99973 customers. the spin-off.
8. Liabilities on Securities Sold under
TOTAL LIABILITIES & EQUITY 3,314,469 3,082,279 2,110,830 Balai Harta Peninggalan Jakarta 17,317 17,317,000 0.00027 b. Monitoring and following up on news or
Repurchase Agreement (repo) 3,409,426 3,409,426 - 1,305,068 1,305,068 - issues arising/spreading after the spin-off.
9. Acceptances liabilities 941,898 941,898 - 391,221 391,221 - Total Issued and Fully Paid Capital 6,379,000,000 6,379,000,000,000 100.00000
Statement of Profit or Loss and Other Comprehensive Income BSN (in c. Implementing an effective and proactive
10. Securities issued 5,444,524 5,067,255 377,269 5,235,060 4,784,355 450,705 Total Unissued Shares 92,000,000 92,000,000,000 communication strategy (including crisis
millions of Rupiah)
11. Fund borrowings 33,485,084 29,271,635 4,213,449 30,455,692 24,901,285 5,554,407 The capital structure and shareholding composition of BSN as shown in the communication strategy).
December 31, December 31, December 31, d. Providing communication channels for the
12. Guarantee deposits 9,604 9,565 39 9,712 9,669 43 No. Items
2024 2023 2022 table above will be readjusted to the fair value determined by an independent public/customers seeking further information
13. Interoffice payables - - 4,468,823 - - - appraiser, calculated in accordance with the applicable regulations. regarding the spin-off.
OPERATING INCOME AND EXPENSES
14. Deferred tax liabilities - - - - - - 6.5 Composition and Names of Candidate Members of the Board of e. Active management of social media and
A. Income and Interest Expenses official publications.
15. Provision for administrative write-off - - - - - -
1. Income from Distribution Fund Directors, Members of the Board of Commissioners, and Members of
16. Other liabilities 5,652,227 7,329,107 979,707 2,818,452 1,681,982 1,178,819 the Sharia Supervisory Board 6.9 Implementation of Banking Synergy
a. Income from Receivables 32,231 22,599 11,329
17. Profit sharing investment fund - - - - - -
b. Income from Profit Sharing 68,168 40,926 23,158 Post Effective Date of Spin Off, no changes are planned to the composition The objectives of the Spin-off of the UUS is for BSN, as a BUS post Spin-
18. Minority interest - - - - - -
c. Lease Income 10,402 4,696 35 of the Board of Directors and Board of Commissioners of BSN. Therefore, off, to be able to conduct its business independently. Nevertheless, it should
19. Subordinated Loan and Securities 6,328,105 6,328,105 - 11,500,000 11,500,000 -
d. Others 111,290 77,023 40,786 the composition of the members of the Board of Directors and Board of be recognized that in the initial years of operation post Spin-off, BSN will
TOTAL LIABILITIES 437,042,613 384,475,287 59,692,737 472,748,223 407,354,575 65,435,997
2. Profit Sharing for Investment Fund Owners Commissioners of BSN shall remain the same as described in Section 5.3 inevitably incur a considerable amount of operational expenses.
EQUITY of this Spin-off Plan. As stipulated in Article 133 of POJK No. 16/2022, BSN may utilize BTN’s
a. Non Profit Sharing 81,882 60,007 38,939
20. Paid-in capital 7,017,222 7,017,222 - 7,017,222 7,017,222 6,379,000 infrastructure and resources through Banking Synergy in order to optimize
b. Profit Sharing - - The composition of the members of the Sharia Supervisory Board following
21. Additional paid-in capital 2,842,821 2,851,799 (8,978) 2,490,386 2,490,386 - banking infrastructure and enhance operational efficiency. The provisions
3. Income After Profit Sharing Distribution 140,210 85,237 36,369 the Effective Date of the Spin-off is planned to consist of 3 (three) members.
22. Difference in Fixed assets revaluation 3,565,773 3,565,773 - 3,565,773 3,565,773 - on Banking Synergy are currently regulated under POJK No. 12/2021 and
B. Income and Operating Expenses Other Than As of the issuance of this Spin-off Plan, the names of the proposed members
23. Difference in Quasi Reorganization - - - - - - Fund Distribution POJK No. 16/2022, which define Banking Synergy as a cooperation between
of the prospective Sharia Supervisory Board members are still under internal
24. Difference in restructuring of entities 1. Gain/Loss from Changes in Fair Value of - - - a controlling shareholder in the form of a BUK (BTN) and a BUS (BSN) for
under common control - - - - - - review process and the appointment of such members shall be carried out
Financial Assets
with due regard to the requirements of the relevant authorities.. the purpose of achieving efficiency, optimizing resources, and creating added
25. Allowance 5,461,717 5,461,717 - 5,461,717 5,461,717 - 2. Gain/Loss from Changes in Fair Value of - - - value in the execution of business activities, services, and operations of the
26. Profit/loss 13,684,354 12,807,157 877,197 14,775,784 14,682,268 93,515 Financial Liabilities 6.6 Proforma Financial Data Reviewed by a Public Accountant Registered cooperating parties. Furthermore, Banking Synergy may also be implemented
TOTAL EQUITY 32,571,889 31,703,668 868,220 33,310,882 33,217,366 6,472,515 3. Gain/Loss from Sale of Financial Assets - - - in the OJK considering that BTN and BSN are parent and subsidiary companies within
TOTAL LIABILITIES & EQUITY 469,614,502 416,178,955 60,560,957 506,059,105 440,571,941 71,908,513 4. Gain/Loss from Spot and Forward Transactions 1,104 7,369 1,697 The following is a report on the proforma financial position of BUS as of the same Banking Group, as regulated under POJK No. 12/2020.
(Realized) December 31, 2024, which has been reviewed by the Public Accountant Firm Article 133 paragraph (1) of POJK No. 16/2022 stipulates that Banking
5. INFORMATIONS REGARDING BUS DESIGNATED 5. Gain/Loss from Investments Using the Equity
Method
- - - Purwanto, Susanti & Surja. This Proforma Financial Position Report was Synergy includes, among others: (i) utilization of infrastructure such as branch
FOR SPIN-OFF 6. Gain/Loss from Foreign Exchange Translation - - -
prepared based on the BSN Financial Report for the period ending December networks, electronic banking terminals, archiving, and others; (ii) utilization
31, 2024. Due to the Spin-off of assets and liabilities of the UUS owned by of technology such as data centers, disaster recovery centers, information
5.1 Name and Registered Office 7. Income of the Bank as Mudharib in Mudharabah - - -
Muqayyadah BTN to BSN, the pro forma Financial Position Report after the Spin-off as if it security, cyber resilience, applications, and others; (iii) banking services for
Name 8. Dividends 15 189 35 were carried out on December 31, 2024, is as follows: customers, including customer service centers; (iv) support related to human
The Name of the BUS is “PT Bank Syariah Nasional” (“BSN”). 9. Commission/Provision/Fees and Administration 2,247 6,175 1,139 Numbers are presented in millions of rupiah resources; or (v) other activities insofar as they comply to the provisions of
BSN was established under the name “PT Bank Swaguna”, as set forth 10. Other Income 23,967 2,959 24,341 Historical Historical Transaction applicable laws and regulations. Therefore, the scope and depth of synergy
in the Deed of Establishment of BSN (as defined below), which was 11. Wadiah Bonus Expense -/- 259 270 213 Items after BSN after UUS BTN adjustment Proforma may be tailored by each bank, provided that clear boundaries are established
12. Impairment on Financial Assets -/- 24,398 16,922 6,954 reclassification reclassification Debit/(credit) and sound risk management practices are implemented.
subsequently renamed “PT Bank Victoria Syariah” (“BVIS”) pursuant to the ASSETS
Shareholders’ Resolution Deed of PT Bank Swaguna No. 5 dated August 13. Losses Related to Operational Risk -/- - - - On the Effective Date of Spin-off, BSN and BTN will enter into a Banking
Cash 838 117,279 - 118,117
6, 2009, executed before Erni Rohaini, S.H., MBA, Notary in Jakarta, and 14. Impairment on Other (Non-Financial) Assets -/- 29,636 4,000 4,096 Synergy cooperation across all aspects, except for those prohibited under the
Demand Deposits with Bank Indonesia 79,531 2,720,152 - 2,799,683
approved by the Minister of Law and Human Rights (“Menkum”) under 15. Employee Expenses -/- 19,252 15,792 16,374 prevailing laws and regulations. The cooperation between BSN and BTN will
Demand Deposits with other banks 1,501 201 - 1,702
Decision No. AHU-12676.AH.01.02.Year 2010 dated March 11, 2010, 16. Promotion Expenses -/- 176 172 62 be formalized in a cooperation agreement.
17. Other Expenses -/- 71,237 48,376 31,039 Allowance for impairment losses - (2) - (2)
and registered in the Company Register under No. AHU-02731.AH.01.02.
Year 2010 dated January 19, 2010. The name was later changed to “PT Other Operating Income (Expenses) (117,624) (68,840) (31,528) 1,501 199 - 1,700 7. ADDITIONAL INFORMATION
Placement with Bank Indonesia and 195,000 1,810,000 - 2,005,000
Bank Syariah Nasional”, representing the latest name change of the BUS other banks If the shareholders and/or third parties require additional information regarding
OPERATING PROFIT (LOSS) 22,586 16,397 4,841 the spin-off, please contact:
pursuant to the Shareholders’ Resolution Deed of BVIS No. 58 dated August Investment in securities – net 1,583,988 10,436,953 - 12,020,941
NON-OPERATING INCOME (EXPENSES)
27, 2025, executed before Ashoya Ratam, S.H., M.Kn., Notary in Jakarta, Murabahah receivables
which has: (i) been approved by Menkum under Decision No. AHU-0058198.
1. Gain/Loss on Sale of Fixed Assets and Inventory 25 387 474
Third parties 323,961 32,564,824 - 32,888,785 PT Bank Tabungan Negara (Persero) Tbk
2. Other Non-Operating Income/Expenses 3,389 (1,077) 1,574 Menara BTN
AH.01.02.YEAR 2025 dated August 28, 2025, and registered in the Company Related parties - 3,741 - 3,741
NON-OPERATING PROFIT (LOSS) 3,414 (690) 2,048
Register under No. AHU-0201042.AH.01.11.YEAR 2025 dated August 28, 323,961 32,568,565 - 32,892,526 Jl. Gajah Mada No. 1, Kel. Petojo Utara, Kec. Gambir, Jakarta Pusat
2025; and (ii) obtained a stipulation based on the Decree of the Board of PROFIT (LOSS) FOR THE PERIOD BEFORE 26,000 15,708 6,889
Allowance for impairment losses (2,689) (770,436) - (773,125) Tel.: (021) 633-26666, 633-6789
Commissioners of OJK No. KEP-66/D.03/2025 dated September 24, 2025 321,272 31,798,129 - 32,119,401
TAX E-mail: csd@btn.co.id Website: www.btn.co.id
concerning the Stipulation of the Use of Business License in the Name of Income Tax Istishna receivables
PT Bank Victoria Syariah to become a Business License in the Name of a. Current Period Estimated Tax -/- 5,791 3,816 296 Third parties - 5,261,679 - 5,261,679
PT Bank Syariah Nasional. Related parties - 1,341 - 1,341 PT Bank Syariah Nasional
b. Deferred Tax Income/Expense - 2,117 1,480
The establishment of BSN was carried out through Deed No. 9 dated April 15, NET PROFIT (LOSS) FOR THE YEAR 20,209 9,775 5,113 - 5,263,020 - 5,263,020 Gedung Graha BIP 5th Floor
Allowance for impairment losses - (83,430) - (83,430) Jl. Gatot Subroto Kav. 23
1966, made before Bebasa Daeng Lalo, Deputy Notary in Jakarta, who had
- 5,179,590 - 5,179,590
obtained approval from the Minister of Justice of the Republic of Indonesia OTHER COMPREHENSIVE INCOME Kel. Karet Semanggi, Kec. Setiabudi, Jakarta Selatan
1. Items That Will Not Be Reclassified to Profit Musyarakah financing
based on the Justice Determination List No. J. A. 7/4/2 dated March 14, 1964, Third parties 838,772 5,807,734 - 6,646,506 Telp. (021) 5600467, (021) 5225285 (Hunting)
or Loss
No. J. A. 7/6/9, and No. J. A. 7/1/7 dated January 18, 1966, and had been Related parties 23,135 206,289 - 229,424 Fax. (021) 5664247
a. Gain from Revaluation of Fixed Assets - - -
published in the State Gazette of the Republic of Indonesia No. 62 dated May 861,907 6,014,023 - 6,875,930
b. Gain/Loss from Remeasurement of Defined 70 (313) -
24, 1968, Supplement to the State Gazette of the Republic of Indonesia No. Benefit Pension Plan Allowance for impairment losses (5,840) (467,757) - (473,597)
42 (“BSN Establishment Deed”). This Summary of Spin-off Plan, as stated in this document, is prepared in
c. Others - - - 856,067 5,546,266 - 6,402,333 compliance with the applicable laws and regulations.
Names mentioned 77 people and organisations named in the text · linked when the evidence is strong
unresolved
org
PT Datindo Entrycom
p.1 ×2
unresolved
org
Spin-PT Bank Tabungan Negara (Persero) Tbk
p.1
unresolved
org
Bank Indonesia
p.1 ×14
unresolved
org
Bank Umum Syariah
p.1
unresolved
org
PT Bank Victoria Syariah
p.1 ×3
unresolved
org
Minister of Law and Human Rights
p.1 ×7
unresolved
org
PT Bank Syariah
p.1
unresolved
org
PT Kustodian Sentral Efek Indonesia
p.1
unresolved
org
Kementerian
p.1
unresolved
org
Financial Services Authority
p.1
unresolved
org
Bank Consolidation.
p.1
unresolved
org
PT Indonesia Stock Exchange
p.1
unresolved
person
Ratam
p.1 ×2
unresolved
person
Nixon Lambok Pahotan
· President Director
p.1 ×2
unresolved
org
Bank Tabungan
p.1 ×3
unresolved
org
Bank Tabungan Pos. Bank Tabungan
p.1
unresolved
—
- Non-Controlling interest
p.1
unresolved
org
Law No. 1 of 1969 on Forms of State Enterprises into Law, and Government
p.1
unresolved
person
Ashoya Ratam
· Notaris
p.1 ×4
unresolved
person
H. Mohammad Bagus Teguh Perwira
· Member
p.1
unresolved
org
(Persero)” No. 136 dated July 31, 1992, executed before Muhani Salim,
p.1
unresolved
person
H. Muhammad Faiz
· Member
p.1
unresolved
org
Minister of Justice
p.1 ×2
unresolved
org
was published in the State Gazette of the Republic of Indonesia (BNRI)
p.1
unresolved
org
Accountant Registration No. AP.1681 and the financial statements as
p.1
unresolved
org
Bank UUS BTN
p.2
unresolved
person
Suwarni Sukiman
· Notaris
p.2 ×2
unresolved
person
Alex Sofjan Noor
· President Director
p.2 ×2
unresolved
person
Arga M. Nugraha
· President Director
p.2 ×2
unresolved
—
Spin-off Effective
p.2
unresolved
—
Beki Kanuwa*
p.2
unresolved
org
1) Collecting funds in the form of savings in the form of Demand Deposits,
p.2
unresolved
person
Bahrullah Akbar
· Commissioner
p.2
unresolved
person
Lukman Khakim
· Commissioner
p.2
unresolved
person
Hilman Latief
· Commissioner
p.2
unresolved
org
Ministry of Law
p.2
unresolved
person
Misbahul Ulum
· Chairman
p.2
unresolved
person
Syarif Hidayatullah
· Member
p.2
unresolved
org
SYIRKAH FUNDS, AND EQUITY
p.2
unresolved
org
Heliantono dan Rekan
p.2
unresolved
org
Accounting Firm Heliantono dan Rekan
p.2
unresolved
—
Implementing an effective and proactive
p.2
unresolved
—
official publications.
p.2
unresolved
org
security, cyber resilience, applications, and others; (iii) banking services for
p.2
unresolved
org
Name of the BUS is “PT Bank Syariah Nasional” (“BSN”).
p.2
unresolved
org
PT Bank Swaguna
p.2 ×2
unresolved
person
Erni Rohaini
· Notaris
p.2
unresolved
person
Bebasa Daeng Lalo
· Notaris
p.2
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