20250731_INCO_Laporan Informasi dan Fakta Material_31929062_lamp1.pdf

  New Catalyst for PT Vale’s Operations: First Ore Sales from Bahodopi Block
                        and Higher Nickel Matte Prices


Jakarta, 31 July 2025 – Sustainable nickel producer PT Vale Indonesia Tbk (“PT Vale” or
“the Company”; IDX: INCO) has reported solid performance in the second quarter of 2025
(“2Q25”), underscoring its operational resilience and strategic efforts to strengthen the
Company’s medium-term growth baseline. Increased production, improved cost efficiency,
and the approved revision of the Work Plan and Budget (“RKAB”) for mining activities in
Bahodopi served as key catalysts, reinforcing PT Vale’s position as a strategic player in
Indonesia’s nickel industry.

In 2Q25, PT Vale recorded nickel in matte production of 18,557 tonnes, marking a 9% increase
compared to 1Q25 and a 12% rise from the same period last year (2Q24). This growth was
driven by effective planned maintenance and enhanced operational efficiency, in line with PT
Vale’s commitment to maintaining stable, sustainable production. For the first half of 2025
(“1H25”), total production reached 35,584 tonnes, up 2% year-on-year.

Nickel deliveries also rose to 18,023 tonnes, up from 17,096 tonnes in the previous quarter,
with revenue climbing to US$220.2 million, reflecting both higher volumes and an improved
average realized price of US$12,091 per tonne. “We delivered strong operational performance
amidst market dynamics, maintaining a healthy EBITDA of US$40 million and recording a
positive net profit of US$3.5 million for the quarter,” said Abu Ashar, Vice President Director
and Chief Operation and Infrastructure Officer of PT Vale. “This stability lays a solid foundation
for a more assertive second half.”

A key strategic milestone was the approval of the revised RKAB for 2.2 million tonnes of
saprolite ore from the Bahodopi Block, alongside a significant pricing improvement in
new nickel matte sales agreements. “With the RKAB approval and enhanced commercial
terms, we anticipate a stronger financial and operational baseline in the second half,” said
Rizky Putra, Director and Chief Financial Officer of PT Vale. “This marks a pivotal step in
unlocking new revenue streams and supporting Bahodopi’s strategic realization as a future
growth engine.”

Bahodopi as a Growth Catalyst and 2025 Outlook

The Bahodopi Block has become a strategic focus for the Company in advancing nickel
downstreaming and strengthening its long-term growth portfolio. With the revised RKAB in
place, PT Vale is well-positioned to capitalize on the high-value potential of saprolite ore to
support the growing needs of the nickel industry.
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PT Vale Indonesia Tbk
Jakarta: Sequis Tower, 20th Floor, Unit 6 & 7, Jl. Jend. Sudirman Kav. 71, Jakarta 12190, Indonesia. T.(62) 21 524 9000
F.(62) 21 524 9020
Makassar: Jl. Somba Opu No. 281, Makassar 90113, Indonesia. T.(62) 411 366 9000 F.(62) 411 366 9020
Sorowako: Main Office Plant Site Sorowako, Luwu Timur 92984, Indonesia. T.(62) 475 332 9100 F.(62) 475 332 9575
www.vale.com/indonesia